Provides Opportunity to Participate in Upside of a Combined Company with a Strong Balance Sheet, Greater Scale and Broader Strategic Capabilities
Stockholders Encouraged to Vote "FOR" the Transaction Today
Visit VoteLivePerson.com for Information on How to Vote
, /PRNewswire/ -- LivePerson (NASDAQ: LPSN) ("LivePerson" or "the Company"), a leading provider of predictable conversational AI, today announced that it has mailed a letter to stockholders encouraging them to vote "FOR" the Company's previously announced transaction with SoundHound AI, Inc. (NASDAQ: SOUN). A Special Meeting of Stockholders related to the pending transaction will be held on August 20, 2026, and stockholders of record as of close of business on July 6, 2026 are entitled to vote.
The letter, the full text of which is below, has been filed with the U.S. Securities and Exchange Commission and is available at www.VoteLivePerson.com with voting instructions and other information about the transaction.
Fellow Stockholder,
We are writing to remind you about the proposed acquisition of LivePerson by SoundHound AI and the upcoming special meeting to be held on August 20, 2026.
By voting FOR the transaction, LivePerson stockholders have the opportunity to participate in the upside of a combined company with a strong balance sheet and no debt, greater scale and broader strategic capabilities.
Your vote and participation, however many shares you own, are very important. A share that is not voted counts the same as a vote against the transaction. Your prompt response will help us secure stockholder approval before the meeting, reducing the risk of postponement.
The Pending Transaction is the Best Strategic Alternative for LivePerson Stockholders
The LivePerson Board of Directors undertook a comprehensive review of alternatives in which 66 potential counterparties were contacted. The Board determined that the transaction with SoundHound represents the best alternative for maximizing stockholder value, including when compared to continuing as a standalone company given the business, financial, competitive, industry and market risks facing LivePerson.
A vote FOR the transaction is a vote in favor of the following benefits to LivePerson stockholders:
Represents Premium Value for LivePerson Stockholders: Based on the assumptions described in the proxy statement/prospectus, most LivePerson stockholders will receive SoundHound stock, which as of the announcement of the transaction on April 21, 2026, represented approximately $3.33 in value per LivePerson share, a premium of approximately 22% over LivePerson's 30-day volume-weighted average trading price before such announcement. Stockholders holding shares listed on the Tel Aviv Stock Exchange are expected to receive the equivalent value in cash instead of SoundHound shares. Presents Opportunity to Participate in Future Upside: LivePerson stockholders receiving consideration in the form of SoundHound stock would become stockholders of a combined company with a strong balance sheet with no debt and accelerated path to profitability. SoundHound has stated that, assuming the transaction closes in the second half of 2026, it expects an achievable combined revenue range of at minimum $350 to $400 million in 2027, and that the combined business is expected to reach $500 million based on the existing customer base alone. Creates a More Complete Platform with Greater Scale: The transaction would unite complementary capabilities across voice, digital engagement, agentic AI and AI assurance. The combined customer base includes 25 of the Fortune 100, creating one of the conversational AI sector's most comprehensive enterprise customer footprints and significant opportunities to introduce additional capabilities across the companies' existing customer bases. A negotiated resolution to LivePerson's debt. LivePerson's outstanding debt currently exceeds the total value of the transaction. As part of the transaction, our secured noteholders have agreed to exchange their notes at a value reflecting a substantial discount to the notes' approximately $350 million par value. Given LivePerson's valuation and substantial debt, no strategic transaction that allows LivePerson stockholders to receive any value for their shares may have been possible without such material noteholder concessions. Voting Takes About Two Minutes
It is imperative that you take just two minutes to vote FOR the transaction today using one of the following methods. For more information and additional materials visit www.VoteLivePerson.com.
Online: www.proxyvote.com, or scan the QR code on your proxy card. Phone: Call 1-800-690-6903 with your proxy card, or 1-800-322-2885 to speak with a proxy specialist if you do not have your card. Mail: Mark, sign, and date your proxy card and return it in the postage-paid envelope. Votes must be received by 11:59 p.m. Eastern Time on August 19, 2026, or you may attend the meeting via the Internet and vote during the meeting at www.virtualshareholdermeeting.com/LPSN2026SM. If you hold your shares through a bank or broker, please follow the voting instructions they provide. If you hold shares through the Tel Aviv Stock Exchange, please follow the separate instructions in the proxy statement.
If you have any questions, please contact our proxy solicitor, MacKenzie Partners, Inc., toll-free at 1-800-322-2885 or by email at [email protected].
Thank you for your continued support of LivePerson, Inc.
Sincerely,
John Sabino
Chief Executive Officer, LivePerson, Inc.
VOTE TODAY
Your vote is very important. The Special Meeting is scheduled for August 20, 2026.
Approval of the merger proposal requires the affirmative vote of a majority of all outstanding shares of LivePerson common stock. Not voting has the same effect as voting against the transaction.
Vote today by proxy card, online or by phone. For more information and additional materials visit LINK: VoteLivePerson.com, or contact LivePerson's proxy solicitor, MacKenzie Partners, Inc., toll-free at (800) 322-2885 or by e-mail at [email protected].
LivePerson stockholders who hold shares listed on the Tel Aviv Stock Exchange (TASE) and intend to vote their shares must deliver to LivePerson's Israeli counsel, Arnon, Tadmor-Levy, c/o Moshe Pasker, Azrieli Center (Square Tower), Tel Aviv, Israel, 6702101 (email: [email protected]), an ownership certificate confirming their ownership on July 6, 2026. The form of proxy card for stockholders who hold shares listed on the TASE is available on the websites: https://www.magna.isa.gov.il and https://maya.tase.co.il.
About LivePerson
LivePerson (NASDAQ: LPSN) is an enterprise leader in predictable conversational AI. The world's leading brands use our award-winning Conversational Cloud and Syntrix platforms to connect with millions of customers. We power nearly a billion messages every month, providing uniquely rich data analytics, agent training, and AI evaluation tools to unlock the power of conversational AI for better business outcomes. Learn more at liveperson.com.
Media Contact:
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Investor Relations Contact:
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Forward-Looking Statements
This document contains "forward-looking statements" within the meaning of the U.S. federal securities laws about the expectations, beliefs, plans, intentions, prospects, financial results and strategies relating to SoundHound AI's proposed acquisition of LivePerson. Such forward-looking statements include, among others, statements regarding the timing of filing the definitive proxy/prospectus and timing of LivePerson's special meeting, obtaining regulatory approvals, the timing of closing of the proposed acquisition, and the parties' expectations, intentions, strategies, assumptions or beliefs about future events, results of operations or performance or that do not solely relate to historical or current facts. Forward-looking statements are predictions, projections and other statements about future events or conditions that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including: (1) the occurrence of any event, change, or other circumstance that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between LivePerson and SoundHound; (2) the possibility that the transaction does not close when expected or at all due to the failure to satisfy all of the conditions to closing on a timely basis or at all, including the failure to obtain the required shareholder approvals or to consummate the notes restructuring transactions contemplated by the Notes Restructuring Agreement; (3) the risk that the benefits from the transaction may not be fully realized or may take longer to realize than expected, including as a result of changes in, or problems arising from, general economic and market conditions, interest and exchange rates, monetary policy, trade policy (including tariff levels), laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which LivePerson and SoundHound operate; (4) any failure to promptly and effectively integrate the businesses of LivePerson and SoundHound; (5) the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (6) reputational risk and potential adverse reactions of LivePerson's or SoundHound's customers, employees or other business partners, including those resulting from the announcement, pendency or completion of the transaction; (7) the diversion of management's attention and time to the transaction from ongoing business operations and opportunities; and (8) the outcome of any legal proceedings that may be instituted against LivePerson or SoundHound or in connection with the transaction. Further information on factors that could affect the forward-looking statements and expectations above are contained in the filings that LivePerson and/or SoundHound AI have filed, or that will be filed, with the U.S. Securities and Exchange Commission (the "SEC"), including as set forth in the Form S-4 and the proxy statement/prospectus contained therein, as well as the documents incorporated by reference therein.
All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made, and LivePerson does not undertake or assume any obligation to update publicly any of these statements to reflect actual results, new information or future events, changes in assumptions, or changes in other factors affecting forward-looking statements, except to the extent required by applicable law.
No Offer or Solicitation
This communication is not intended to be, and shall not constitute, an offer to sell, buy or exchange or the solicitation of an offer to sell, buy or exchange any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Additional Information and Where to Find It
In connection with the proposed transaction, SoundHound AI has filed with the U.S. Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 (the "Form S-4") that includes a definitive proxy statement of LivePerson and that constitutes a prospectus of SoundHound AI with respect to the shares of the SoundHound AI common stock to be issued in the proposed transaction, dated July 9, 2026 (the "proxy statement/prospectus"). The proxy statement/prospectus was filed with the SEC on July 9, 2026 by LivePerson, and the mailing of the proxy statement/prospectus began to LivePerson's stockholders on or about the same date. Each of SoundHound AI and LivePerson may also file other relevant documents with the SEC regarding the proposed transaction.
This communication is not a substitute for the Form S-4, the proxy statement/prospectus or any other document that SoundHound AI or LivePerson has filed, or may file, with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF SOUNDHOUND AI AND LIVEPERSON ARE URGED TO READ THE FORM S-4, THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain copies of these documents (if and when available), as well as other filings containing information about SoundHound AI and LivePerson, free of charge on the SEC's website at www.sec.gov. Copies of the documents filed with, or furnished to, the SEC by the Company will be available free of charge on SoundHound AI's website at https://investors.soundhound.com/financial-information/sec-filings. Copies of the documents filed with, or furnished to, the SEC by LivePerson will be available free of charge on LivePerson's website at https://ir.liveperson.com/financial-information/sec-filings. The information included on, or accessible through, SoundHound AI's or LivePerson's website is not incorporated by reference into this communication.
Participants in the Solicitation
SoundHound, LivePerson and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies with respect to the proposed transaction under the rules of the SEC. Information about the directors and executive officers of SoundHound, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in SoundHound's definitive proxy statement for its 2026 annual meeting of stockholders under the heading "Proposal 1 – Election of Directors", which was filed with the SEC on April 9, 2026 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/0001840856/000121390026041978/ea0285618-01.htm. Information about the directors and executive officers of LivePerson and their ownership of LivePerson equity interests can be found in the section entitled "Interests of LivePerson Directors and Executive Officers in the Mergers" and "Owners and Management of LivePerson" included in the proxy/prospectus, which was filed with the SEC on July 9, 2026 and is available at https://www.sec.gov/Archives/edgar/data/1102993/000121390026076759/ea0297465-01.htm. Further information about the directors and executive officers of LivePerson may be found in its amendment to its Annual Report on Form 10-K for the year ended December 31, 2025 under the headings "Directors, Executive Officers and Corporate Governance," "Executive Compensation," "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters" and is available at: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001102993/000110299326000020/lpsn-20251231.htm; in the Form 3 and Form 4 statements of beneficial ownership and statements of changes in beneficial ownership filed with the SEC by LivePerson's directors and executive officers; and is in other documents filed by LivePerson with the SEC. Additional information regarding the interests of the participants in the solicitation of proxies will be included in other relevant materials to be filed with the SEC if and when they become available. You should read the Form S-4 and the proxy statement/prospectus carefully before making any voting or investment decisions. You may obtain free copies of these documents using the sources indicated above.
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PHILADELPHIA--(BUSINESS WIRE)--Investor litigation firm Kaskela Law announces that it is investigating Semtech Corporation (NASDAQ: SMTC) (“Semtech”) on behalf of the company's long-term investors. Click here for additional information: https://kaskelalaw.com/case/semtech-corporation/ Recently a securities fraud complaint was filed against Semtech on behalf of investors who purchased shares of the company's stock between October 10, 2024 and February 7, 2025 (the “Wrongdoing Period”). According.
ROCK HILL, S.C., July 23, 2026 (GLOBE NEWSWIRE) -- 3D Systems (NYSE: DDD) announced today it will release its financial results for the second quarter 2026 after the U.S. stock market closes on Monday, August 3, 2026. The company will hold a conference call and simultaneous webcast to discuss these financial results on Tuesday, August 4, 2026, at 8:30 a.m. Eastern Time.
IT společnost IBM zveřejnila hospodářské výsledky za druhé čtvrtletí roku 2026 a snížila celoroční výhled růstu tržeb v konstantních měnách na 4 až 5 % z dříve očekávaného růstu nad 5 %. Report byl podle analytiků lepší, než se obávalo, poté co předběžné výsledky minulý týden vyvolaly historický propad akcií.
Výsledky společnosti IBM (IBM) za 2Q 2026 2Q 2026 Konsensus 2Q 2026 2Q 2025 Výnosy (mld. USD) 17,16 17,53 16,98 Čistý zisk (mld. USD) 2,17 -- 2,19 Očištěný provozní zisk na akcii (EPS, USD/akcie) 2,93 2,97 2,80 Výsledky za 2Q IBM představila předběžné výsledky za 2Q již 14. července.
Výnosy dosáhly 17,16 mld. USD, meziročně +1 %.
Výnosy ze softwarového segmentu činily 7,76 mld. USD, meziročně +5,1 %, pod odhadem 7,99 mld. USD. Výnosy z konzultačního segmentu dosáhly 5,33 mld. USD, meziročně +0,2 %, pod odhadem 5,39 mld. USD. Výnosy z infrastrukturního segmentu klesly o 7,4 % na 3,84 mld. USD, pod odhadem 3,96 mld. USD. Výnosy z financování vzrostly o 12 % na 186 mil. USD, nad odhadem 178,6 mil. USD.
Očištěná hrubá marže dosáhla 59,4 % oproti loňským 60,1 %.
Volný hotovostní tok klesl meziročně o 11 % na 2,54 mld. USD, pod odhadem 2,95 mld. USD.
Výhled na FY 2026 Firma snížila výhled pro celý rok 2026 a nyní predikuje:
Růst tržeb v konstantních měnách 4 % až 5 % (dříve: nad 5 %). Společnost zároveň nadále očekává meziroční nárůst celoročního volného hotovostního toku o přibližně 1 mld. USD a nově počítá se zlepšenou expanzí marže zisku před zdaněním pro celý rok.
Komentář vedení Arvind Krishna, předseda představenstva, prezident a generální ředitel IBM, uvedl: „Věříme ve strategii a portfolio IBM i v naši schopnost využít budoucí růstové příležitosti. Jsme přesvědčeni, že se nacházíme v raných fázích strukturální proměny byznysu a že naše portfolio napříč softwarem, infrastrukturou a konzultacemi je dobře pozicováno k tomu, aby pomohlo klientům využít hodnotu a zvládnout výzvy budoucnosti tažené AI. Zároveň podnikáme kroky ke zrychlení růstu tržeb a ziskovosti a významně investujeme do komerčního využití inovací.“
James Kavanaugh, finanční ředitel IBM, dodal: „Přestože jsme na konci druhého čtvrtletí čelili protivětru u tržeb, nadále jsme se soustředili na fundamenty našeho byznysu, včetně růstu produktivity, posilování portfolia a generování volného hotovostního toku.“
Společnost dále uvedla, že v příštích pěti letech investuje přes 10 mld. USD do kvantových počítačů a zůstává na dobré cestě dodat první rozsáhlý odolný kvantový počítač do roku 2029. IBM rovněž zrychluje změny svého obchodního modelu rozšířením prodejního pokrytí o tisíce dalších klientů s významným růstovým potenciálem.
Návrat kapitálu akcionářům Společnost za čtvrtletí vrátila akcionářům 1,6 mld. USD formou dividend.
Komentáře analytiků Analytici z Evercore ISI (doporučení outperform, cílová cena 250 USD) uvedli, že výsledky odpovídají negativnímu předběžnému oznámení IBM, avšak výhled je výrazně lepší, než se obávalo.
Analytici z RBC Capital Markets (doporučení outperform, cílová cena 270 USD) uvedli, že po zklamáních z předběžných výsledků vedení vyjádřilo důvěru ve svou strategii a portfolio, což se odrazilo v zachovaném výhledu volného hotovostního toku pro fiskální rok 2026. Report označili za lepší, než se obávalo.
Akcie IBM Akcie IBM (IBM) v předburzovní fázi obchodování klesají o 1,56 % na 202,55 USD.
International Business Machines Corp (IBM) -2,2 % na 205,77 USD Ukazatel Ukazatel Kapitalizace (mld. USD) 193,9 P/E 19,1 Vývoj za letošní rok (%) -30,5 Očekávané P/E 16,7 52týdenní minimum (USD) 204,4 Prům. cílová cena (USD) 252,0 52týdenní maximum (USD) 332,5 Dividendový výnos (%) 3,3 Zdroj: IBM, Bloomberg
California Public Employees Retirement System raised its position in shares of Nebius Group N.V. (NASDAQ:NBIS – Free Report) by 380.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,388 shares of the company’s stock after purchasing an additional 190,388 shares during the quarter. California Public Employees Retirement System owned 0.10% of Nebius Group worth $24,943,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Parkside Financial Bank & Trust acquired a new position in Nebius Group during the fourth quarter valued at $25,000. Root Financial Partners LLC acquired a new position in shares of Nebius Group in the 4th quarter valued at about $26,000. SHP Wealth Management acquired a new position in shares of Nebius Group in the 4th quarter valued at about $26,000. Sound Income Strategies LLC lifted its position in shares of Nebius Group by 62.5% in the first quarter. Sound Income Strategies LLC now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Nebius Group by 73.8% during the fourth quarter. Blue Trust Inc. now owns 332 shares of the company’s stock worth $28,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 21.90% of the company’s stock.
Nebius Group Stock Up 0.6% NBIS stock opened at $218.16 on Thursday. The firm has a market cap of $55.20 billion, a PE ratio of 70.37 and a beta of 4.10. Nebius Group N.V. has a 1 year low of $50.00 and a 1 year high of $299.86. The company has a fifty day simple moving average of $228.94 and a 200 day simple moving average of $155.95. The company has a current ratio of 8.33, a quick ratio of 8.33 and a debt-to-equity ratio of 1.16.
Nebius Group (NASDAQ:NBIS – Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.58. Nebius Group had a net margin of 95.27% and a negative return on equity of 9.11%. The firm had revenue of $399.00 million for the quarter, compared to the consensus estimate of $375.13 million. Nebius Group’s revenue was up 684.0% compared to the same quarter last year. Sell-side analysts anticipate that Nebius Group N.V. will post -1.91 EPS for the current fiscal year.
Key Nebius Group News Here are the key news stories impacting Nebius Group this week:
Positive Sentiment: Robert W. Baird initiated coverage with an “outperform” rating and a $250 price target, adding another bullish analyst call to the stock’s recent momentum. Benzinga article Positive Sentiment: Northland Securities raised its price target to $410, reinforcing the view that Nebius may still have significant upside if AI infrastructure demand keeps accelerating. Northland Securities Boosts Nebius Group (NASDAQ:NBIS) Price Target to $410.00 Positive Sentiment: Freedom Capital Markets upgraded Nebius from hold to strong-buy, which further boosted sentiment around the stock. Zacks.com article Positive Sentiment: Multiple reports highlighted Nvidia’s 9.3% stake in Nebius as a strong vote of confidence in the company’s AI cloud strategy, helping extend the stock’s rally. CNBC article Positive Sentiment: Nebius also benefited from attention on its $775 million debt facility, which supports expansion without relying as heavily on equity dilution. Zacks article Neutral Sentiment: One article noted the chairman sold a small block of shares, but the transaction was limited and does not appear to change the broader bullish thesis. Motley Fool article Wall Street Analyst Weigh In Several research analysts have weighed in on the stock. Robert W. Baird assumed coverage on shares of Nebius Group in a research note on Wednesday. They issued an “outperform” rating and a $250.00 price objective on the stock. Wolfe Research assumed coverage on shares of Nebius Group in a research note on Thursday, April 16th. They set a “peer perform” rating for the company. Bank of America upped their price target on shares of Nebius Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Freedom Capital upgraded Nebius Group from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Wall Street Zen raised Nebius Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.15.
View Our Latest Report on NBIS
Insider Buying and Selling at Nebius Group In related news, CEO Arkadiy Volozh sold 46,627 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $235.45, for a total value of $10,978,327.15. Following the transaction, the chief executive officer directly owned 821,662 shares of the company’s stock, valued at approximately $193,460,317.90. This trade represents a 5.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Marc Boroditsky sold 10,776 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $276.20, for a total value of $2,976,331.20. Following the completion of the transaction, the executive directly owned 26,886 shares in the company, valued at $7,425,913.20. The trade was a 28.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 668,405 shares of company stock worth $140,422,170 in the last 90 days.
Nebius Group Company Profile (Free Report)
Nebius Group N.V., a technology company, builds intelligent products and services powered by machine learning and other technologies to help consumers and businesses navigate the online and offline world. The company’s services include Nebius AI, an AI-centric cloud platform that offers infrastructure and computing capability for AI deployment and machine-learning oriented solutions; and Toloka AI that offers generative AI (GenAI) solutions at every stage of the GenAI lifecycle, such as data annotation and generation, model training and fine-tuning, and quality assessment of large language model for accuracy and reliability.
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Space Exploration Technologies brought excitement to the space sector ahead of its initial public offering (IPO). But when the hype wore off, some space stocks fell back down to Earth.
Since SpaceX began trading to the public on June 12, the stock price of space and defense tech company Redwire (RDW -4.83%) plummeted 43% from July 12 to July 20. It's still up more than 20% in 2026, but over the last year, shares have dropped over 42%.
There's a bullish case that any significant pullbacks, like the one we've seen since June, could be a buying opportunity. Still, there are a few issues to factor in before making an investment decision.
Image source: Getty Images.
The upside of Redwire Redwire helps make space missions possible through its antennas, power generation, trackers, and camera systems. That helps give its products an essential nature in the space industry. But its most unique operations are in providing space-based research and manufacturing capabilities for endeavors ranging from regenerative medicine to crop production.
Its revenue in its space division is flat, but it's making up for that by capturing increasing sales through its defense segment.
Q1 2025 Revenue
Q1 2026 Revenue
Defense: $9.3 million
Defense: $44.3 million
Space: $52.1 million
Space: $52.7 million
Data source: Redwire Q1 2026 Investor Presentation
In the first quarter of 2026, Redwire also reported a record backlog of nearly $500 million, indicating increasing demand for its products and services. That appears to be reflected in Redwire's 2026 full-year revenue forecast; it reported around $335 million in revenue in 2025 and expects 2026's total to fall in a range of $450 million to $500 million.
Today's Change
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Current Price
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8.97
What keeps weighing on the stock Redwire experienced a sell-off after SpaceX went public, but issues had been brewing before then. One was shareholders worried about dilution when Redwire announced in June that it was selling up to $500 million in common stock.
Another concern is growing losses. For 2025, Redwire reported net losses increased by $112.2 million to $226.6 million, and it already reported a net loss of $76.5 million in the first quarter of 2026.
In addition, while its backlog is a proof point of growing demand, Redwire still needs to convert that backlog into actual revenue. If it can't start chipping away at the backlog, it would likely have to keep issuing new stock if it finds itself in a tight financial position. At the end of the first quarter of 2026, Redwire reported total liquidity of $175.2 million.
Redwire shows some long-term promise, but I'd still be comfortable sitting on the sidelines until it cuts down on its losses and starts turning more of that backlog into revenue.
PALO ALTO, Calif.--(BUSINESS WIRE)--D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave” or the “Company”), the only dual-platform quantum computing company providing both annealing and gate-model systems, software and services, today announced it will release its financial results for the second quarter of 2026 ended June 30, 2026 on Thursday, August 6, 2026 before market open. The press release will be available on the D-Wave Investor Relations website: ir.dwavequantum.com.In conjunction with this annou.
California Public Employees Retirement System purchased a new stake in CoreWeave Inc. (NASDAQ:CRWV – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 265,841 shares of the company’s stock, valued at approximately $20,595,000. California Public Employees Retirement System owned approximately 0.06% of CoreWeave at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Azzad Asset Management Inc. ADV increased its holdings in shares of CoreWeave by 2.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company’s stock valued at $389,000 after acquiring an additional 104 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in CoreWeave by 34.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company’s stock worth $33,000 after purchasing an additional 119 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in CoreWeave by 45.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 121 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in CoreWeave by 26.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 600 shares of the company’s stock valued at $43,000 after purchasing an additional 125 shares in the last quarter. Finally, WPG Advisers LLC increased its stake in CoreWeave by 14.1% in the first quarter. WPG Advisers LLC now owns 1,159 shares of the company’s stock valued at $90,000 after purchasing an additional 143 shares during the last quarter.
CoreWeave Price Performance Shares of NASDAQ:CRWV opened at $82.64 on Thursday. CoreWeave Inc. has a one year low of $63.80 and a one year high of $153.20. The stock has a market capitalization of $36.99 billion, a price-to-earnings ratio of -26.57 and a beta of 7.17. The company has a 50-day simple moving average of $98.41 and a 200-day simple moving average of $95.46. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31.
CoreWeave (NASDAQ:CRWV – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The company had revenue of $2.08 billion during the quarter. During the same quarter in the previous year, the business earned ($0.60) EPS. The firm’s revenue for the quarter was up 111.6% compared to the same quarter last year. On average, analysts predict that CoreWeave Inc. will post -4.57 EPS for the current year.
Analysts Set New Price Targets A number of analysts have weighed in on CRWV shares. Wells Fargo & Company raised their price objective on shares of CoreWeave from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Mizuho dropped their target price on shares of CoreWeave from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Sanford C. Bernstein initiated coverage on shares of CoreWeave in a research report on Wednesday. They issued an “outperform” rating on the stock. BTIG Research initiated coverage on shares of CoreWeave in a research note on Wednesday. They set a “buy” rating on the stock. Finally, Oppenheimer boosted their price target on shares of CoreWeave from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CoreWeave presently has an average rating of “Moderate Buy” and an average price target of $136.25.
View Our Latest Report on CRWV
Insider Transactions at CoreWeave In other CoreWeave news, insider Brannin Mcbee sold 53,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $86.13, for a total value of $4,564,890.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 61,797 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $86.94, for a total transaction of $5,372,631.18. Following the transaction, the chief executive officer owned 2,876,815 shares of the company’s stock, valued at approximately $250,110,296.10. The trade was a 2.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,072,869 shares of company stock worth $1,983,274,420 over the last 90 days. 24.20% of the stock is currently owned by insiders.
CoreWeave News Summary Here are the key news stories impacting CoreWeave this week:
Positive Sentiment: Truist upgraded CoreWeave to Buy, helping lift the stock as Wall Street continues to favor the company’s AI infrastructure growth story. CoreWeave upgraded to buy at Truist Positive Sentiment: Baird initiated coverage on CoreWeave with an Outperform rating, adding another vote of confidence in the company’s ability to benefit from AI demand and cloud expansion. CoreWeave, Nebius initiated with outperform ratings at Baird Positive Sentiment: Several pieces highlight the company’s strong revenue growth outlook and recent rebound, including commentary that CoreWeave is chasing 108% Q2 revenue growth with major power capacity expansion. CoreWeave (CRWV) Is Chasing 108% Q2 Revenue Growth With A Big Power Ramp Neutral Sentiment: The CFO sold about $5.5 million of company shares, which may raise some investor caution but is not necessarily a fundamental red flag on its own. CoreWeave’s CFO Sold Company Shares for $5.5 Million. What Does That Mean for Investors? Neutral Sentiment: Analyst target updates show mixed but still constructive sentiment: one report noted a $139.69 consensus price target, while Barclays cut its target to $90 and kept an equal-weight view. CoreWeave Inc. (NASDAQ:CRWV) Receives $139.69 Consensus PT from Brokerages Negative Sentiment: Broader concerns remain around CoreWeave’s heavy debt load, large capital spending needs, and pressure to quickly add power capacity, which could limit upside if execution slows. CoreWeave’s AI-Native Cloud Faces the Storm About CoreWeave (Free Report)
CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.
CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.
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WALTHAM, Mass., July 23, 2026 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (the “Company”) (Nasdaq: OPRX), a leading provider of healthcare technology solutions helping life sciences companies reach and engage healthcare professionals (HCPs) and patients at key decision moments, today announced the appointment of Sarah Bast as Chief Marketing Officer.
I rate IREN Limited a Strong Buy with a $49 price target, implying 20% upside from current levels. My three modeled growth drivers are the 2026 AI Cloud revenue ramp, the additional 730MW planned for 2027, and lower financing costs from customer prepayments. Together, I estimate these drivers can produce approximately $2.03 in FWD non-GAAP adjusted EPS.
Formalizes the Strategic Investment and Commercial Framework Between the Companies Announced in April 2026
Strengthens USA Rare Earth's Midstream Rare Earth Platform in Europe and the Integrated Industrial Ecosystem Forming in Lacq, France
Carester’s Caremag Facility to Commence Operations in Q4 2026
Provides LCM Europe and USA Rare Earth Access to Carester’s Rare Earth Oxides; Gives Carester Access to USA Rare Earth Feedstock from Serra Verde and Round Top
STILLWATER, Okla., July 23, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (the “Company”) today announced that it has entered into definitive agreements to acquire strategic minority stakes representing approximately 13.6 percent each in Carester SAS (“Carester”), a French leader in rare earth processing and separation. InfraVia, acting through its Critical Metals Fund, seeded by the French State as an anchor investor alongside private institutional capital, is acquiring a similar stake in Carester alongside USA Rare Earth.
The agreements finalize the strategic investment and commercial framework the parties announced in April 2026. In addition to targeting healthy returns, USA Rare Earth and its subsidiary Less Common Metals (“LCM”) Europe will have the ability to purchase a portion of Carester’s oxide output from its Caremag facility. USA Rare Earth will have access to Carester’s engineering capabilities and related intellectual property for separation, processing, and recycling. In turn, Carester will have access to USA Rare Earth feedstock sources, including Serra Verde and the Round Top deposit in Texas.
"Integrating Carester’s capabilities into our global platform brings additional advanced processing optionality into our integrated value chain, further supporting our mining, metal making and magnet manufacturing businesses," said Barbara Humpton, Chief Executive Officer of USA Rare Earth. "This is also a highly strategic financial investment, as Carester’s position as one of the few facilities outside of China capable of separating heavy rare earths beginning in 2027 can provide a distinct competitive advantage. We anticipate that this scarcity, coupled with accelerating demand for secure critical materials, can drive sustainable, long-term value for our shareholders."
Founded in 2019, Carester is a French specialist in rare earth processing and separation technologies, with decades of technical expertise across the value chain from raw material sourcing through high-purity rare earth oxides. Carester is currently building its Caremag magnet recycling and heavy rare earth separation facility in Lacq, France, scheduled for commissioning in late 2026 with an anticipated annual production when fully ramped of 800 tonnes per annum (tpa) of neodymium-praseodymium (NdPr) oxide, 500 tpa of dysprosium (Dy) oxide and 100 tpa of terbium (Tb) oxide. The facility’s Dy and Tb oxide production is expected to represent approximately 15% of current world production of these magnetic heavy rare earth oxides.
Proceeds will primarily fund Carester’s next phase of growth, including expansion of its rare earth processing and separation platform (Caremag), research and development, and working capital. As a condition to completion of the strategic investment, a portion of the joint investment will fund the acquisition of minority shareholders’ interest, resulting in their full exit. Funding is expected in the third quarter of 2026, subject to remaining customary conditions.
The investment is part of a broader partnership between USA Rare Earth, LCM Europe, and Carester to build an integrated rare earth industrial platform in Lacq, France, spanning processing, separation, metal and alloy production, and potentially magnet manufacturing. In parallel, USA Rare Earth, through LCM Europe, is developing a 3,750 mtpa metal and alloy production facility at the same location. Together, these projects are intended to form one of Europe’s most complete rare earth industrial ecosystems and to advance a secure, Western-aligned value chain across the United States, the United Kingdom, and Europe.
The Lacq platform builds on the French government’s previously announced support for the LCM Europe metallization and alloy project, including direct credits under the C3IV program of up to 45 percent of eligible equipment and real estate, up to €130 million, and Bpifrance Assurance Export’s readiness to consider a state guarantee (Garantie des Projets Stratégiques) covering 50 percent of commercial debt financing for project capital expenditures.
Transaction Advisors
Moelis & Company LLC acted as financial advisor and Latham & Watkins LLP acted as legal advisor to USA Rare Earth.
About USA Rare Earth
USA Rare Earth, Inc. (Nasdaq: USAR) is building a fully integrated rare earth and permanent magnet value chain across the United States, the United Kingdom, and Europe. Through its ownership of Less Common Metals Ltd. (LCM) and development of magnet manufacturing capacity in Stillwater, Oklahoma, USA Rare Earth operates across the entire value chain, from heavy rare earth processing to metal-making, alloy production, and neodymium magnet manufacturing. By combining domestic feedstock from the Round Top deposit with advanced processing technologies, recycling capabilities, and an expanding European industrial footprint, USA Rare Earth is establishing a secure, Western-aligned supply of materials essential to defense, electrification, robotics, energy, and advanced manufacturing.
About Carester
Founded in 2019 by Frédéric Carencotte and a team of international experts, Carester is a French company specializing in the refining of rare earth elements, critical materials for advanced technologies. The company is a leader in the separation and production of highly valuable heavy rare earth oxides including praseodymium (Pr), neodymium (Nd), terbium (Tb), and dysprosium (Dy), all critical components of permanent magnets. Carester processes both mined and recycled material, and its proprietary software intellectual property enables customers to optimize oxide formulations for specific use cases.
About InfraVia Capital Partners
Founded in 2008, InfraVia is a leading independent private capital firm specialized in real assets (infrastructure, critical metals, real estate) and technology investments. InfraVia is a conviction-driven investor focusing on resilient assets and long-term value creation through active, hands-on asset management. Headquartered in Paris, InfraVia is 100 percent partner-owned. InfraVia manages more than EUR 20 billion of capital and has invested in more than 60 companies across Europe.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the Company’s investment in Carester and the timing and completion of that investment, the development of Carester’s Caremag facility and LCM Europe’s planned metal and alloy production facility in Lacq, France, the Company’s role in establishing a midstream and downstream rare earth and magnet value chain in Europe, and USAR’s expectations for future development, operations, strategies, transactions and financial performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. Words such as “anticipate,” “can,” “continue,” “could,” “growth,” “may,” “might,” “plan,” “potential,” “project,” “propose,” “should,” “target,” “vision,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
Forward-looking statements are subject to risks and uncertainties and potentially inaccurate assumptions that could cause actual results to differ materially from our expectations, including without limitation: the investment in Carester is subject to remaining customary conditions and may not be completed on the terms contemplated or at all; Carester’s Caremag facility in Lacq, France is under construction and has not commenced commercial operation, and its commissioning may be delayed; the proposed transactions with Serra Verde Group and Texas Mineral Resources Corp. may not be consummated on their anticipated timelines or at all; we may not realize the anticipated benefits of our proposed and prior acquisitions, including expected synergies, financial performance, estimated earnings before interest, taxes, depreciation and amortization and, in the case of Serra Verde, integration of operations, on the anticipated timeline or at all; the ability of our magnet manufacturing facility in Stillwater, Oklahoma (the “Stillwater facility”) or other future magnet manufacturing facilities to commence commercial operations on the timing and with the production capacity anticipated or at all; our limited operating history; our ability to commercially extract minerals from the Round Top deposit in Texas on our anticipated timeline or at all; risks that we may experience delays, unforeseen expenses, increased capital costs, and other complications in operating our business; our ability to raise necessary capital on acceptable terms or at all; potential dilution to existing stockholders and adverse effect on our stock price if we issue additional common stock or equity-linked securities; the volatility of our stock price; our ability to satisfy project milestones and other conditions to disbursement under our financing arrangement with the DOC on the anticipated timeline or at all; our dependence on continued governmental support for the DOC financing transactions, which remains subject to changes in laws, regulations, administrations and appropriations; extensive affirmative and negative covenants, domestic content and national security guardrail provisions and ongoing reporting obligations in the DOC financing agreements that restrict our operational and financial flexibility; the risk that defaults under the DOC funding agreements could trigger cross-defaults across our financing arrangements; the impact of the DOC’s equity interest in us on our ability to pursue strategic transactions and on our relationships with customers, suppliers, partners and other counterparties; the availability of rare earth oxide, metal feedstock and other materials, utilities (including power and water) and equipment in quantities and prices that allow us to develop and commercially operate our Stillwater facility and other facilities; our ability to meet individual customer specifications and manufacture a consistently high quality product; fluctuations in demand for and prices of our products, including without limitation as a result of dumping, predatory pricing and other tactics by our competitors or state actors or the overall competitive environment; our ability to achieve positive cash flow or profitability or the ability to access cash flow within our corporate structure due to restrictions contained in our financing agreements; our ability to convert current commercial discussions and/or memorandums of understanding with customers for the sale of our neo magnets and other products into definitive orders; geopolitical developments or disruptions, such as changes in the political environment, export/import or environmental policy of the People’s Republic of China, the United States or other countries in which we operate or sell products or otherwise; limitations imposed on our business by the Chinese government; war, terrorism, natural disasters or public health emergencies; our ability to retain or recruit key personnel; environmental, health and safety regulations; and our ability to comply with requirements for federal, state and local government incentives and financing.
Additional risks and detailed information regarding factors that may cause actual results to differ materially has been and will be included in our filings with the SEC. Any forward-looking statements speak only as of the date of this report (or such other date as is specified in such statements), and USAR undertakes no obligation to update any forward-looking statements as a result of new information or future events or developments, except to the extent required by law.
Bessemer Group Inc. grew its position in shares of Sandisk Corporation (NASDAQ:SNDK – Free Report) by 45.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,577 shares of the data storage provider’s stock after purchasing an additional 1,121 shares during the period. Bessemer Group Inc.’s holdings in Sandisk were worth $2,272,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. State Street Corp purchased a new position in Sandisk during the 3rd quarter valued at approximately $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sandisk during the 3rd quarter worth approximately $297,293,000. Norges Bank purchased a new stake in shares of Sandisk during the 4th quarter worth approximately $518,889,000. Bank of America Corp DE bought a new position in shares of Sandisk during the 3rd quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC bought a new position in shares of Sandisk during the 3rd quarter valued at approximately $163,057,000.
Sandisk News Summary Here are the key news stories impacting Sandisk this week:
Positive Sentiment: Reports say memory prices are still surging, which supports expectations for stronger revenue and margins at Sandisk. Memory Prices Are Still Skyrocketing. Is the Next Rally for Micron, Sandisk, and SK Hynix Just Beginning? Positive Sentiment: Analysts and market commentators continue to highlight Sandisk as a beneficiary of AI-related NAND demand, enterprise SSD growth, and favorable pricing dynamics. Sandisk Trades at 8.3X Discounted P/E: Time to Buy the Stock? Positive Sentiment: UBS and other strategists said the recent selloff in AI and semiconductor names may be nearing exhaustion, which could help sentiment rebound further in Sandisk. UBS sees Broadcom, Sandisk, Oracle stocks rebounding: here’s why Positive Sentiment: Tuesday’s memory-stock rally and Morgan Stanley’s forecast for another big jump in memory prices reinforced the bullish setup for SNDK. Micron, Western Digital, and Sandisk Just Jumped 12% to 14%. Here’s the Forecast That Did It. Neutral Sentiment: Some coverage noted that the stock also saw profit-taking and broader market weakness at times, which can create short-term volatility even within the stronger trend. Why Is Sandisk Stock Falling on Wednesday? Analyst Upgrades and Downgrades A number of research analysts recently weighed in on SNDK shares. Sanford C. Bernstein raised their target price on shares of Sandisk from $1,700.00 to $3,000.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Wells Fargo & Company upped their price target on shares of Sandisk from $1,250.00 to $1,620.00 and gave the company an “equal weight” rating in a research note on Wednesday. The Goldman Sachs Group reiterated a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Arete Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Finally, UBS Group set a $1,700.00 target price on shares of Sandisk in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,820.90.
View Our Latest Research Report on SNDK
Insider Activity at Sandisk In related news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total value of $1,252,800.00. Following the transaction, the insider owned 31,515 shares of the company’s stock, valued at $65,803,320. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 6,225 shares of company stock valued at $10,166,297. Company insiders own 0.21% of the company’s stock.
Sandisk Stock Performance Shares of NASDAQ SNDK opened at $1,599.27 on Thursday. Sandisk Corporation has a fifty-two week low of $40.10 and a fifty-two week high of $2,354.39. The company has a market cap of $236.84 billion, a price-to-earnings ratio of 55.59 and a beta of 4.74. The business’s 50 day moving average price is $1,748.90 and its 200-day moving average price is $1,075.37.
Sandisk (NASDAQ:SNDK – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The company had revenue of $5.95 billion during the quarter. During the same quarter in the previous year, the firm earned ($0.30) EPS. Sandisk’s revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Sell-side analysts predict that Sandisk Corporation will post 64.52 earnings per share for the current year.
About Sandisk (Free Report)
SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.
See Also Five stocks we like better than Sandisk Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play Want to see what other hedge funds are holding SNDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandisk Corporation (NASDAQ:SNDK – Free Report).
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Sandisk dropped almost 30% in the last month, but AI-driven NAND demand keeps the bullish thesis alive. NAND prices are rising faster than DRAM due to investment competition. I analyzed the bearish and bullish arguments I read most over the past few weeks.
Net Interest Margin Expansion Drives Record Quarterly Revenue of $126 million;
Strong Year-Over-Year Core Deposit and Business Loan Growth
Announces Plans to Resume Share Buybacks
HAUPPAUGE, N.Y., July 23, 2026 (GLOBE NEWSWIRE) -- Dime Commercial Bancshares, Inc. (NYSE: DCOM) (the “Company” or “Dime”), the parent company of Dime Commercial Bank (the “Bank”), today reported net income available to common stockholders of $33.0 million for the quarter ended June 30, 2026, or $0.75 per diluted common share, compared to net income available to common stockholders of $32.8 million, or $0.75 per diluted common share, for the quarter ended March 31, 2026 and net income available to common stockholders of $27.9 million for the quarter ended June 30, 2025, or $0.64 per diluted common share.
Adjusted net income available to common stockholders (non-GAAP) was $34.7 million and adjusted diluted EPS (non-GAAP) was $0.79 per share for the quarter ended June 30, 2026, compared to $0.74 per share for the quarter ended March 31, 2026 and $0.64 for the quarter ended June 30, 2025 (see "Non-GAAP Reconciliation" tables at the end of this news release).
Stuart H. Lubow, President and Chief Executive Officer (“CEO”) of the Company, stated, “Dime continues to execute on our growth plan and delivered record quarterly revenue. Second quarter results were marked by strong growth in business loans as our commercial banking teams are converting their robust pipelines. Recognizing the progress we have made in creating a high-quality balance sheet, Kroll Bond Rating Agency recently issued a “Positive” ratings outlook for Dime. Finally, and in recognition of our evolution into a commercial and private banking powerhouse, we recently completed our re-brand to “Dime Commercial Bank”.”
Capital Return: Mr. Lubow, stated, “In light of our strong capital position, lower CRE concentration levels, stress testing results, and improving profitability, we are pleased to announce that we expect to begin repurchasing our shares in the third quarter.”
Highlights for the Second Quarter of 2026 included:
Adjusted diluted EPS of $0.79 per share for the second quarter of 2026, compared to $0.64 per share for the second quarter of 2025;Total deposits increased $937.0 million on a year-over-year basis;Core deposits (excluding brokered and time deposits) increased $948.3 million on a year-over-year basis;Average non-interest-bearing deposits to average total deposits for the second quarter increased to 31.0%;Business loans grew $280.8 million on a linked quarter basis and $743.0 million on a year-over-year basis;The net interest margin increased to 3.28% for the second quarter of 2026 compared to 3.21% for the prior quarter;The efficiency ratio decreased to 51.2% for the second quarter of 2026 compared to 55.0% for second quarter of 2025;The adjusted efficiency ratio decreased to 49.9% for the second quarter of 2026 compared to 54.7% for the second quarter of 2025;The Company’s Tier 1 Common Equity Ratio increased to 11.99% at the end of the second quarter;The Company’s Consolidated CRE Concentration ratio was proactively managed lower to 352%; andNon-performing assets declined by 28% on a linked quarter basis and represented 0.46% of Total Assets.
Management’s Discussion of Quarterly Operating Results
Net Interest Income
Net interest income for the second quarter of 2026 was $115.2 million compared to $112.3 million for the first quarter of 2026 and $98.1 million for the second quarter of 2025. The Net Interest Margin for the second quarter of 2026 was 3.28% compared to 3.21% for the first quarter of 2026 and 2.98% for the second quarter of 2025.
Mr. Lubow commented, “We continue to have a significant loan repricing opportunity that we anticipate will continue through 2027. Additionally, growth in core deposits and business loans will benefit us over time as we continue to grow our customer base. Our substantial liquidity position, which includes $1.9 billion of cash, provides us with the flexibility to take advantage of lending opportunities as they arise. Dime’s asset liability management profile, which is underpinned by our cash position and a growing floating rate loan portfolio, positions us well for a variety of interest rate scenarios.”
Loan Portfolio
The ending weighted average rate (“WAR”) on the total loan portfolio was 5.36% at June 30, 2026, an 8-basis point increase compared to the ending WAR of 5.28% on the total loan portfolio at March 31, 2026.
Outlined below are loan balances and WARs for the quarter ended as indicated.
June 30, 2026 March 31, 2026 June 30, 2025 (Dollars in thousands) Balance WAR(1) Balance WAR(1) Balance WAR(1) Loans held for investment balances at period end: Business loans(2) $3,645,194 6.32%$3,364,435 6.28%$2,902,170 6.65%One-to-four family residential and coop/condo apartment 1,075,904 5.04 1,047,920 4.97 998,677 4.85 Multifamily residential and residential mixed-use(3)(4) 3,113,647 4.48 3,249,582 4.47 3,693,481 4.48 Non-owner-occupied commercial real estate 2,770,751 5.14 2,840,817 5.05 3,128,453 5.12 Acquisition, development, and construction 90,476 7.10 100,574 7.41 141,755 8.28 Other loans 8,401 11.81 9,597 11.53 6,336 11.08 Loans held for investment $10,704,373 5.36%$10,612,925 5.28%$10,870,872 5.33% (1)WAR is calculated by aggregating interest based on the current loan rate from each loan in the category, adjusted for non-accrual loans, divided by the total balance of loans in the category.(2)Business loans include commercial and industrial loans, and owner-occupied commercial real estate loans. At June 30, 2025, business loans included balances related to Paycheck Protection Program (“PPP”) loans; no PPP loans were outstanding at June 30, 2026 or March 31, 2026.(3)Includes loans underlying multifamily cooperatives.(4)While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are reported separately from commercial real estate loans in order to emphasize the residential nature of the collateral underlying this significant component of the total loan portfolio. Outlined below are the loan originations for the quarter ended as indicated.
(Dollars in millions) Q2 2026 Q1 2026 Q2 2025Originations Excluding New Lines of Credit $255.3 $220.4 $227.3Originations Including New Lines of Credit 533.4 500.1 450.5 Deposits and Borrowed Funds
Period end total deposits (including mortgage escrow deposits) at June 30, 2026 were $12.68 billion, compared to $12.60 billion at March 31, 2026 and $11.74 billion at June 30, 2025.
Brokered deposits were $200.0 million at June 30, 2026, compared to $215.0 million at March 31, 2026 and $200.0 million at June 30, 2025. Total Federal Home Loan Bank advances were $385.0 million at June 30, 2026, compared to $435.0 million at March 31, 2026 and $508.0 million at June 30, 2025.
Non-Interest Income
Non-interest income was $11.3 million during the second quarter of 2026, $11.3 million during the first quarter of 2026, and $11.6 million during the second quarter of 2025. Excluding the fair value change in equity securities and loans held for sale, and loss (gain) on sale of securities, loans and other assets, non-interest income was $13.2 million during the second quarter of 2026, $11.7 million during the first quarter of 2026 and $11.4 million during the second quarter of 2025.
Non-Interest Expense
Total non-interest expense was $64.7 million during the second quarter of 2026, $62.8 million during the first quarter of 2026, and $60.3 million during the second quarter of 2025. Excluding the impact of the net loss (gain) on extinguishment of debt, amortization of other intangible assets and severance expense, adjusted non-interest expense was $64.1 million during the second quarter of 2026, $63.4 million during the first quarter of 2026, and $59.9 million during the second quarter of 2025 (see “Non-GAAP Reconciliation” tables at the end of this news release).
The ratio of non-interest expense to average assets was 1.74% during the second quarter of 2026, compared to 1.68% during the linked quarter and 1.72% during the second quarter of 2025. Excluding the impact of the net loss (gain) on extinguishment of debt, amortization of other intangible assets and severance expense, the ratio of adjusted non-interest expense to average assets was 1.72% during the second quarter of 2026, 1.69% during the first quarter of 2026, and 1.71% during the second quarter of 2025 (see “Non-GAAP Reconciliation” tables at the end of this news release).
The efficiency ratio was 51.2% during the second quarter of 2026, compared to 50.8% during the linked quarter and 55.0% during the second quarter of 2025. Excluding the impact of loss (gain) on sale of securities, loans and other assets, fair value change in equity securities and loans held for sale, severance expense, net loss (gain) on extinguishment of debt, and amortization of other intangible assets, the adjusted efficiency ratio was 49.9% during the second quarter of 2026, compared to 51.2% during the linked quarter and 54.7% during the second quarter of 2025 (see “Non-GAAP Reconciliation” tables at the end of this news release).
Mr. Lubow commented, “Our organic growth strategy is paying dividends as evidenced by a decline in the core efficiency ratio to below 50% for the second quarter. Growth in revenues is anticipated to continue to drive the efficiency ratio lower in the years ahead.”
Income Tax Expense
Income tax expense was $13.1 million during the second quarter of 2026, $13.9 million during the first quarter of 2026, and $10.5 million during the second quarter of 2025. The effective tax rate for the second quarter of 2026 was 27.3%, compared to 28.7% for the first quarter of 2026 and 26.1% for the second quarter of 2025.
Credit Quality
Non-performing assets were $69.0 million at June 30, 2026, compared to $95.6 million at March 31, 2026 and $53.2 million at June 30, 2025.
A credit loss provision of $13.9 million was recorded during the second quarter of 2026, compared to $12.3 million during the first quarter of 2026, and $9.2 million during the second quarter of 2025.
Capital Management
Stockholders’ equity increased $23.5 million to $1.52 billion at June 30, 2026, compared to $1.50 billion at March 31, 2026.
The Company’s and the Bank’s regulatory capital ratios continued to be in excess of all applicable regulatory requirements as of June 30, 2026. All risk-based regulatory capital ratios increased during the second quarter of 2026.
Dividends per common share were $0.25 during the second quarter of 2026 and the first quarter of 2026, respectively.
Book value per common share was $31.79 at June 30, 2026 compared to $31.33 at March 31, 2026.
Tangible common book value per share (which represents common equity less goodwill and other intangible assets, divided by the number of shares outstanding) was $28.21 at June 30, 2026 compared to $27.73 at March 31, 2026 (see “Non-GAAP Reconciliation” tables at the end of this news release).
Earnings Call Information
The Company will conduct a conference call at 8:30 a.m. (ET) on Thursday, July 23, 2026, during which CEO Lubow will discuss the Company’s second quarter 2026 financial performance, with a question-and-answer session to follow.
Participants may access the conference call via webcast using this link: https://edge.media-server.com/mmc/p/kjwp3pui. To participate via telephone, please register in advance using this link: https://register-conf.media-server.com/register/BI0e414999c97e4bf0bc9fe67d53be989f. Upon registration, all telephone participants will receive a one-time confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call. All participants are encouraged to dial-in 10 minutes prior to the start time.
A replay of the conference call and webcast will be available on-demand for 12 months at https://edge.media-server.com/mmc/p/kjwp3pui.
ABOUT DIME COMMERCIAL BANCSHARES, INC.
Dime Commercial Bancshares, Inc. is the holding company for Dime Commercial Bank, a New York State-chartered trust company with approximately $15 billion in assets and the number one deposit market share on Greater Long Island (1).
(1)Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for commercial banks with less than $20 billion in assets. This news release contains a number of 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 (the "Exchange Act"). These statements may be identified by use of words such as “annualized," “anticipate," "believe," “continue,” "could," "estimate," "expect," "intend," “likely,” "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar terms and phrases, including references to assumptions. Any forward-looking statements presented herein are made only as of the date of this release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as may be required by law.
Forward-looking statements are based upon various assumptions and analyses made by the Company in light of management's experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond the Company's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. Factors that could affect our results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Company’s control; there may be increases in competitive pressure among financial institutions or from non-financial institutions; changes in the interest rate environment may affect demand for our products and reduce interest margins and the value of our investments; changes in government monetary or fiscal policies and actions may adversely affect our customers, cost of credit and overall result of operations; changes in deposit flows, the cost of funds, loan demand or real estate values may adversely affect the business of the Company; changes in the quality and composition of the Company’s loan or investment portfolios or unanticipated or significant increases in loan losses may negatively affect the Company’s financial condition or results of operations; changes in accounting principles, policies or guidelines may cause the Company’s financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Company's financial condition or results of operations; general socio-economic conditions, public health emergencies, international conflict, inflation, tariffs, and recessionary pressures, either nationally or locally in some or all areas in which the Company conducts business, or conditions in the securities markets or the banking industry may be less favorable than the Company currently anticipates and may adversely affect our customers, our financial results and our operations; legislation or regulatory changes may adversely affect the Company’s business; technological changes may be more difficult or expensive than the Company anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Company anticipates; there may be difficulties or unanticipated expense incurred in the consummation of new business initiatives or the integration of any acquired entities; and litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Company anticipates. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to the sections entitled “Forward-Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and updates set forth in the Company’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Contact: Avinash Reddy Senior Executive Vice President – Chief Operating Officer and Chief Financial Officer 718-782-6200 extension 5909 DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(In thousands) June 30, March 31, December 31, 2026 2026 2025 Assets: Cash and due from banks $1,934,594 $2,059,618 $2,353,966 Securities available-for-sale, at fair value 895,251 838,219 797,935 Securities held-to-maturity 706,606 647,842 618,901 Loans held for sale 1,862 38,225 1,989 Loans held for investment, net: Business loans(1) 3,645,194 3,364,435 3,240,600 One-to-four family residential and coop/condo apartment 1,075,904 1,047,920 1,035,983 Multifamily residential and residential mixed-use(2)(3) 3,113,647 3,249,582 3,424,565 Non-owner-occupied commercial real estate 2,770,751 2,840,817 2,933,287 Acquisition, development and construction 90,476 100,574 117,215 Other loans 8,401 9,597 6,558 Allowance for credit losses (104,963) (100,673) (97,372)Total loans held for investment, net 10,599,410 10,512,252 10,660,836 Premises and fixed assets, net 30,570 30,580 31,255 Restricted stock 61,167 63,659 67,197 BOLI 417,459 404,657 401,163 Goodwill 155,797 155,797 155,797 Other intangible assets 2,534 2,729 2,938 Operating lease assets 36,830 39,551 42,876 Derivative assets 70,545 70,811 76,315 Accrued interest receivable 56,282 57,690 55,572 Other assets 74,046 77,873 74,891 Total assets $15,042,953 $14,999,503 $15,341,631 Liabilities: Non-interest-bearing checking (excluding mortgage escrow deposits) $3,946,965 $3,777,787 $3,915,081 Interest-bearing checking 1,140,667 1,066,620 1,178,281 Savings (excluding mortgage escrow deposits) 1,621,056 1,701,899 1,777,143 Money market 4,853,645 4,874,544 4,806,572 Certificates of deposit 1,068,824 1,089,893 1,117,118 Deposits (excluding mortgage escrow deposits) 12,631,157 12,510,743 12,794,195 Non-interest-bearing mortgage escrow deposits 45,980 88,267 47,051 Interest-bearing mortgage escrow deposits — — — Total mortgage escrow deposits 45,980 88,267 47,051 Total deposits (including mortgage escrow deposits) 12,677,137 12,599,010 12,841,246 FHLBNY advances 385,000 435,000 508,000 Subordinated debt, net 231,186 231,058 272,503 Derivative cash collateral 61,790 57,630 52,400 Operating lease liabilities 39,626 42,431 45,729 Derivative liabilities 69,631 69,305 73,573 Other liabilities 58,127 68,099 72,411 Total liabilities 13,522,497 13,502,533 13,865,862 Stockholders' equity: Preferred stock, Series A 116,569 116,569 116,569 Common stock 462 462 462 Additional paid-in capital 622,636 622,415 623,041 Retained earnings 898,089 876,133 854,167 Accumulated other comprehensive loss ("AOCI"), net of deferred taxes (31,573) (33,019) (31,468)Unearned equity awards (17,590) (15,803) (8,661)Treasury stock, at cost (68,137) (69,787) (78,341)Total stockholders' equity 1,520,456 1,496,970 1,475,769 Total liabilities and stockholders' equity $15,042,953 $14,999,503 $15,341,631 (1)Business loans include commercial and industrial loans, and owner-occupied commercial real estate loans.(2)Includes loans underlying multifamily cooperatives.(3)While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are here reported separately from commercial real estate loans in order to emphasize the residential nature of the collateral underlying this significant component of the total loan portfolio. DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands except share and per share amounts) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025Interest income: Loans $143,892 $142,090 $145,448 $285,982 $288,153Securities 14,518 12,788 11,353 27,306 22,676Other short-term investments 16,840 18,522 10,749 35,362 18,586Total interest income 175,250 173,400 167,550 348,650 329,415Interest expense: Deposits and escrow 52,171 52,364 60,181 104,535 118,255Borrowed funds 7,351 8,300 8,354 15,651 16,735Derivative cash collateral 542 485 918 1,027 2,115Total interest expense 60,064 61,149 69,453 121,213 137,105Net interest income 115,186 112,251 98,097 227,437 192,310Provision for credit losses 13,875 12,313 9,221 26,188 18,847Net interest income after provision 101,311 99,938 88,876 201,249 173,463Non-interest income: Service charges and other fees 6,483 5,730 4,642 12,213 9,285Title fees 187 142 118 329 216Loan level derivative income 535 472 942 1,007 1,003BOLI income 5,038 4,558 4,186 9,596 8,179Gain on sale of Small Business Administration ("SBA") loans 196 — 387 196 469Gain on sale of residential loans 49 72 50 121 82Fair value change in equity securities and loans held for sale 38 (38) 83 — 101Gain on securities — — 149 — 149Loss on sale of loans and other assets (2,000) (320) — (2,320) —Other 740 730 1,038 1,470 1,744Total non-interest income 11,266 11,346 11,595 22,612 21,228Non-interest expense: Salaries and employee benefits 39,781 39,593 36,218 79,374 71,869Severance 454 102 136 556 212Occupancy and equipment 7,899 8,209 7,729 16,108 15,731Data processing costs 5,151 5,423 4,903 10,574 9,697Marketing 1,951 2,025 1,756 3,976 3,422Professional services 2,325 1,909 2,097 4,234 4,213Federal deposit insurance premiums 1,712 1,266 1,692 2,978 3,739Net loss (gain) on extinguishment of debt 2 (974) — (972) —Loss due to pension settlement — — — — 7,231Amortization of other intangible assets 195 209 235 404 487Other 5,231 4,994 5,533 10,225 9,209Total non-interest expense 64,701 62,756 60,299 127,457 125,810Income before taxes 47,876 48,528 40,172 96,404 68,881Income tax expense 13,062 13,946 10,475 27,008 17,726Net income 34,814 34,582 29,697 69,396 51,155Preferred stock dividends 1,821 1,822 1,821 3,643 3,643Net income available to common stockholders $32,993 $32,760 $27,876 $65,753 $47,512 DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES
UNAUDITED COMMON SHARE DATA
(Dollars in thousands except per share amounts) Three Months Ended Six Months EndedGAAP June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025Net income available to common stockholders $32,993 $32,760 $27,876 $65,753 $47,512 Less: Dividends paid and earnings allocated to participating securities (687) (593) (516) (1,280) (830)Income attributable to common stock - Basic and Diluted $32,306 $32,167 $27,360 64,473 46,682 Weighted-average common shares outstanding 43,218,619 43,109,118 43,030,023 43,164,171 42,989,581 Basic and diluted earnings per share ("EPS")(1) $0.75 $0.75 $0.64 $1.49 $1.09 Non-GAAP Adjusted net income available to common stockholders(2) $34,663 $32,405 $27,863 $67,068 $52,551 Less: Dividends paid and earnings allocated to participating securities (722) (586) (516) (1,308) (910)Adjusted income attributable to common stock - Basic and Diluted $33,941 $31,819 $27,347 $65,760 $51,641 Weighted-average common shares outstanding 43,218,619 43,109,118 43,030,023 43,164,171 42,989,581 Adjusted basic and diluted EPS(3) $0.79 $0.74 $0.64 $1.52 $1.20 (1)The earnings per share is calculated by dividing income attributable to common stock by weighted-average common shares outstanding.(2)See "Non-GAAP Reconciliation" tables for reconciliation of reported and adjusted (non-GAAP) net income available to common stockholders.(3)The adjusted earnings per share is calculated by dividing adjusted income attributable to common stock by weighted-average common shares outstanding. DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES
UNAUDITED SELECTED FINANCIAL HIGHLIGHTS
(Dollars in thousands except per share amounts) At or For the Three Months Ended At or For the Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Per Share Data: Reported EPS (Diluted) $0.75 $0.75 $0.64 $1.49 $1.09 Cash dividends paid per common share 0.25 0.25 0.25 0.50 0.50 Book value per common share 31.79 31.33 29.95 31.79 29.95 Tangible common book value per share(1) 28.21 27.73 26.32 28.21 26.32 Common shares outstanding 44,158 44,057 43,889 44,158 43,889 Dividend payout ratio 33.33% 33.33% 39.06% 33.56% 45.87% Performance Ratios (Based upon Reported Net Income): Return on average assets 0.94% 0.92% 0.85% 0.93% 0.74%Return on average equity 9.15 9.20 8.28 9.17 7.16 Return on average tangible common equity(1) 10.62 10.72 9.68 10.67 8.30 Net interest margin 3.28 3.21 2.98 3.24 2.96 Non-interest expense to average assets 1.74 1.68 1.72 1.71 1.81 Efficiency ratio 51.2 50.8 55.0 51.0 58.9 Effective tax rate 27.28 28.74 26.08 28.02 25.73 Balance Sheet Data: Average assets $14,862,346 $14,981,498 $14,013,592 $14,921,593 $13,896,281 Average interest-earning assets 14,086,464 14,202,286 13,195,116 14,144,055 13,079,859 Average tangible common equity(1) 1,247,394 1,228,003 1,158,738 1,237,751 1,152,361 Loan-to-deposit ratio at end of period(2) 84.4% 84.2% 92.6% 84.4% 92.6% Capital Ratios and Reserves - Consolidated: Tangible common equity to tangible assets(1) (3) 8.37% 8.23% 8.22% Tangible equity to tangible assets(1) (3) 9.15 9.02 9.05 Tier 1 common equity ratio(3) 11.99 11.87 11.25 Tier 1 risk-based capital ratio(3) 13.09 12.97 12.34 Total risk-based capital ratio(3) 16.30 16.17 15.84 Tier 1 leverage ratio(3) 9.46 9.24 9.43 Consolidated CRE concentration ratio(3)(4) 352 371 425 Allowance for credit losses/ Total loans 0.98 0.95 0.86 Allowance for credit losses/ Non-performing loans held for investment 157.09 176.20 175.12 (1)See "Non-GAAP Reconciliation" tables for reconciliation of tangible equity, tangible common equity, and tangible assets.(2)Total deposits include mortgage escrow deposits, which fluctuate seasonally.(3)June 30, 2026 ratios are preliminary pending completion and filing of the Company’s regulatory reports.(4)The Consolidated CRE concentration ratio is calculated using the sum of commercial real estate, excluding owner-occupied commercial real estate, multifamily, and acquisition, development, and construction, divided by consolidated capital. The June 30, 2026 ratio is preliminary pending completion and filing of the Company’s regulatory reports. DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES
UNAUDITED AVERAGE BALANCES AND NET INTEREST INCOME
(Dollars in thousands) Three Months Ended June 30, 2026 March 31, 2026 June 30, 2025 Average Average Average Average Yield/ Average Yield/ Average Yield/ Balance Interest Cost Balance Interest Cost Balance Interest Cost Assets: Interest-earning assets: Business loans $3,489,614 $56,520 6.50%$3,274,659 $52,406 6.49%$2,798,899 $46,593 6.68%One-to-four family residential and coop/condo apartment 1,064,043 12,588 4.75 1,041,802 12,383 4.82 981,138 11,532 4.71 Multifamily residential and residential mixed-use 3,195,372 35,930 4.51 3,363,792 37,698 4.55 3,740,939 42,462 4.55 Non-owner-occupied commercial real estate 2,815,624 37,117 5.29 2,910,973 37,497 5.22 3,175,062 41,822 5.28 Acquisition, development, and construction 90,738 1,711 7.56 106,808 2,079 7.89 136,154 3,009 8.86 Other loans 8,580 26 1.22 8,329 27 1.31 7,135 30 1.69 Total loans 10,663,971 143,892 5.41 10,706,363 142,090 5.38 10,839,327 145,448 5.38 Securities 1,582,300 14,518 3.68 1,451,425 12,788 3.57 1,361,383 11,353 3.34 Other short-term investments 1,840,193 16,840 3.67 2,044,498 18,522 3.67 994,406 10,749 4.34 Total interest-earning assets 14,086,464 175,250 4.99% 14,202,286 173,400 4.95% 13,195,116 167,550 5.09%Non-interest-earning assets 775,882 779,212 818,476 Total assets $14,862,346 $14,981,498 $14,013,592 Liabilities and Stockholders' Equity: Interest-bearing liabilities: Interest-bearing checking(1) $1,040,981 $4,058 1.56%$1,133,722 $4,793 1.71%$943,716 $4,141 1.76%Money market 4,796,008 30,049 2.51 4,761,610 28,801 2.45 4,174,694 32,818 3.15 Savings(1) 1,684,130 9,826 2.34 1,742,334 10,042 2.34 1,925,224 14,048 2.93 Certificates of deposit 1,075,789 8,238 3.07 1,105,241 8,728 3.20 1,075,729 9,174 3.42 Total interest-bearing deposits 8,596,908 52,171 2.43 8,742,907 52,364 2.43 8,119,363 60,181 2.97 FHLBNY advances 418,517 3,541 3.39 479,534 3,850 3.26 508,000 4,053 3.20 Subordinated debt, net 231,102 3,810 6.61 271,596 4,449 6.64 272,385 4,301 6.33 Other short-term borrowings — — — 122 1 3.32 — — — Total borrowings 649,619 7,351 4.54 751,252 8,300 4.48 780,385 8,354 4.29 Derivative cash collateral 62,134 542 3.50 52,708 485 3.73 79,188 918 4.65 Total interest-bearing liabilities 9,308,661 60,064 2.59% 9,546,867 61,149 2.60% 8,978,936 69,453 3.10%Non-interest-bearing checking(1) 3,864,575 3,747,722 3,412,215 Other non-interest-bearing liabilities 166,688 183,678 187,774 Total liabilities 13,339,924 13,478,267 12,578,925 Stockholders' equity 1,522,422 1,503,231 1,434,667 Total liabilities and stockholders' equity $14,862,346 $14,981,498 $14,013,592 Net interest income $115,186 $112,251 $98,097 Net interest rate spread 2.40% 2.35% 1.99%Net interest margin 3.28% 3.21% 2.98%Deposits (including non-interest-bearing checking accounts)(1) $12,461,483 $52,171 1.68%$12,490,629 $52,364 1.70%$11,531,578 $60,181 2.09% (1)Includes mortgage escrow deposits. DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES
UNAUDITED SCHEDULE OF NON-PERFORMING ASSETS
(Dollars in thousands) At or For the Three Months Ended June 30, March 31, June 30,Asset Quality Detail 2026 2026 2025 Non-performing loans held for investment ("NPLs") Business loans $23,898 $24,257 $18,007 One-to-four family residential and coop/condo apartment 4,465 4,088 1,642 Multifamily residential and residential mixed-use 26,893 — — Non-owner-occupied commercial real estate 11,151 28,368 32,908 Acquisition, development, and construction 412 412 657 Other loans — 11 — Non-accrual loans held for investment $66,819 $57,136 $53,214 Non-accrual loans held for investment / Total loans held for investment 0.62% 0.54% 0.49% Non-accrual loans held for sale $1,750 $38,000 $— Total non-accrual loans $68,569 $95,136 $53,214 Total non-accrual loans/ Total loans 0.64% 0.89% 0.49% Total non-performing assets ("NPAs")(1) $69,019 $95,586 $53,214 Total loans 90 days delinquent and accruing ("90+ Delinquent") $— $— $— NPAs and 90+ Delinquent $69,019 $95,586 $53,214 NPAs and 90+ Delinquent / Total assets 0.46% 0.64% 0.37% Net loan charge-offs ("NCOs") $9,662 $8,574 $5,405 NCOs / Average loans(2) 0.36% 0.32% 0.20% (1)June 30, 2026 and March 31, 2026 balances include one non-performing available-for-sale security in the amount of $450 thousand.(2)Calculated based on annualized NCOs to average loans. DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES
NON-GAAP RECONCILIATION
(Dollars in thousands except per share amounts)
The following tables below provide a reconciliation of certain financial measures calculated under generally accepted accounting principles ("GAAP") (as reported) and non-GAAP measures. A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with GAAP in the United States. The Company’s management believes the presentation of non-GAAP financial measures provides investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with GAAP. While management uses these non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with GAAP or considered to be more important than financial results determined in accordance with GAAP.
The following non-GAAP financial measures exclude pre-tax income and expenses associated with the fair value change in equity securities and loans held for sale, loss (gain) on sale of securities, loans and other assets, severance, net loss (gain) on extinguishment of debt and loss due to pension settlement.
Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Reconciliation of Reported and Adjusted (non-GAAP) Net Income Available to Common Stockholders Reported net income available to common stockholders $32,993 $32,760 $27,876 $65,753 $47,512 Adjustments to net income(1): Fair value change in equity securities and loans held for sale (38) 38 (83) — (101) Loss (gain) on sale of securities, loans and other assets 2,000 320 (72) 2,320 (72) Severance 454 102 136 556 212 Net loss (gain) on extinguishment of debt 2 (974) — (972) — Loss due to pension settlement — — — — 7,231 Income tax effect of adjustments noted above(1) (748) 159 6 (589) (2,231) Adjusted net income available to common stockholders (non-GAAP) $34,663 $32,405 $27,863 $67,068 $52,551 Adjusted Ratios (Based upon Adjusted (non-GAAP) Net Income as calculated above) Adjusted EPS (Diluted) $0.79 $0.74 $0.64 $1.52 $1.20 Adjusted return on average assets 0.98 % 0.91 % 0.85 % 0.95 % 0.81 %Adjusted return on average equity 9.59 9.11 8.28 9.35 7.87 Adjusted return on average tangible common equity 11.16 10.60 9.67 10.88 9.18 Adjusted non-interest expense to average assets 1.72 1.69 1.71 1.71 1.70 Adjusted efficiency ratio 49.9 51.2 54.7 50.5 55.2 (1)Adjustments to net income are taxed at the Company's approximate statutory tax rate. The following table presents a reconciliation of operating expense as a percentage of average assets (as reported) and adjusted operating expense as a percentage of average assets (non-GAAP):
Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Operating expense as a % of average assets - as reported 1.74 % 1.68 % 1.72 % 1.71 % 1.81 %Severance (0.01) — — (0.01) — Net loss (gain) on extinguishment of debt — 0.02 — 0.01 — Loss due to pension settlement — — — — (0.10) Amortization of other intangible assets (0.01) (0.01) (0.01) — (0.01) Adjusted operating expense as a % of average assets (non-GAAP) 1.72 % 1.69 % 1.71 % 1.71 % 1.70 % The following table presents a reconciliation of efficiency ratio (non-GAAP) and adjusted efficiency ratio (non-GAAP):
Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Efficiency ratio - as reported (non-GAAP)(1) 51.2 % 50.8 % 55.0 % 51.0 % 58.9 %Non-interest expense - as reported $64,701 $62,756 $60,299 $127,457 $125,810 Severance (454) (102) (136) (556) (212) Net (loss) gain on extinguishment of debt (2) 974 — 972 — Loss due to pension settlement — — — — (7,231) Amortization of other intangible assets (195) (209) (235) (404) (487) Adjusted non-interest expense (non-GAAP) $64,050 $63,419 $59,928 $127,469 $117,880 Net interest income - as reported $115,186 $112,251 $98,097 $227,437 $192,310 Non-interest income - as reported $11,266 $11,346 $11,595 $22,612 $21,228 Fair value change in equity securities and loans held for sale (38) 38 (83) — (101) Loss (gain) on sale of securities, loans and other assets 2,000 320 (72) 2,320 (72) Adjusted non-interest income (non-GAAP) $13,228 $11,704 $11,440 $24,932 $21,055 Adjusted total revenues for adjusted efficiency ratio (non-GAAP) $128,414 $123,955 $109,537 $252,369 $213,365 Adjusted efficiency ratio (non-GAAP)(2) 49.9 % 51.2 % 54.7 % 50.5 % 55.2 % (1)The reported efficiency ratio is a non-GAAP measure calculated by dividing GAAP non-interest expense by the sum of GAAP net interest income and GAAP non-interest income.(2)The adjusted efficiency ratio is a non-GAAP measure calculated by dividing adjusted non-interest expense by the sum of GAAP net interest income and adjusted non-interest income. The following table presents a reconciliation of pre-tax pre provision net revenue (non-GAAP) and adjusted pre-tax pre-provision net revenue (non-GAAP):
Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025Financial Data: Net interest income $115,186 $112,251 $98,097 $227,437 $192,310Non-interest income 11,266 11,346 11,595 22,612 21,228Total revenue 126,452 123,597 109,692 250,049 213,538Non-interest expense 64,701 62,756 60,299 127,457 125,810Pre-tax pre-provision net revenue (non-GAAP)(1) $61,751 $60,841 $49,393 $122,592 $87,728Adjusted pre-tax pre-provision net revenue (non-GAAP)(2) $64,364 $60,536 $49,609 $124,900 $95,485 (1)The reported pre-tax pre-provision net revenue is a non-GAAP measure calculated by adding GAAP net interest income and GAAP non-interest income less GAAP non-interest expense.(2)The adjusted pre-tax pre-provision net revenue is a non-GAAP measure calculated by adding GAAP net interest income and the adjusted non-interest income less the adjusted non-interest expense as shown in the reconciliation of efficiency ratio table above. The following table presents the tangible common equity to tangible assets, tangible equity to tangible assets, and tangible common book value per share calculations (non-GAAP):
June 30, March 31, June 30, 2026 2026 2025 Reconciliation of Tangible Assets: Total assets $15,042,953 $14,999,503 $14,207,935 Goodwill (155,797) (155,797) (155,797) Other intangible assets (2,534) (2,729) (3,409) Tangible assets (non-GAAP) $14,884,622 $14,840,977 $14,048,729 Reconciliation of Tangible Common Equity - Consolidated: Total stockholders' equity $1,520,456 $1,496,970 $1,431,006 Goodwill (155,797) (155,797) (155,797) Other intangible assets (2,534) (2,729) (3,409) Tangible equity (non-GAAP) 1,362,125 1,338,444 1,271,800 Preferred stock, net (116,569) (116,569) (116,569) Tangible common equity (non-GAAP) $1,245,556 $1,221,875 $1,155,231 Common shares outstanding 44,158 44,057 43,889 Tangible common equity to tangible assets (non-GAAP) 8.37 % 8.23 % 8.22 %Tangible equity to tangible assets (non-GAAP) 9.15 9.02 9.05 Book value per common share $31.79 $31.33 $29.95 Tangible common book value per share (non-GAAP) 28.21 27.73 26.32
California Public Employees Retirement System boosted its holdings in shares of Modine Manufacturing Company (NYSE:MOD – Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,788 shares of the auto parts company’s stock after purchasing an additional 2,642 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Modine Manufacturing worth $20,108,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Modine Manufacturing during the 1st quarter valued at $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $25,000. Spire Wealth Management acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $27,000. Sunbelt Securities Inc. bought a new position in shares of Modine Manufacturing during the third quarter worth about $39,000. Finally, Danske Bank A S bought a new position in shares of Modine Manufacturing during the third quarter worth about $43,000. 95.23% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes Several analysts have issued reports on the company. Glj Research restated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Oppenheimer lifted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. UBS Group boosted their price target on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. KeyCorp upped their price target on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Finally, DA Davidson restated a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $327.14.
Check Out Our Latest Research Report on MOD
Modine Manufacturing Stock Performance Shares of MOD opened at $249.51 on Thursday. The firm has a fifty day moving average of $263.53 and a 200-day moving average of $226.75. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. Modine Manufacturing Company has a 1 year low of $94.55 and a 1 year high of $323.25.
Modine Manufacturing (NYSE:MOD – Get Free Report) last issued its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The firm had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. During the same period last year, the firm posted $1.12 EPS. Modine Manufacturing’s quarterly revenue was up 47.5% compared to the same quarter last year. As a group, equities analysts anticipate that Modine Manufacturing Company will post 7.72 earnings per share for the current year.
Insider Activity In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider owned 28,364 shares in the company, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the transaction, the director directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. The trade was a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 54,302 shares of company stock valued at $15,928,759. Insiders own 1.92% of the company’s stock.
Modine Manufacturing Profile (Free Report)
Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.
Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.
See Also Five stocks we like better than Modine Manufacturing Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play
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Česká národní banka by mohla podle Jana Kubíčka v nadcházejících měsících ještě jednou zvýšit úrokové sazby. Člen bankovní rady uvedl, že o této možnosti budou centrální bankéři pravděpodobně diskutovat už v srpnu. Důvod ke spěchu však zatím nevidí a tržní sázky na rychlý růst sazeb považuje za přehnané.
ČNB v červnu zvýšila svou hlavní repo sazbu o 25 bazických bodů. Šlo o první zpřísnění měnové politiky za poslední čtyři roky.
Kubíček uvedl, že při hodnocení potřeby dalšího růstu sazeb sleduje především vývoj úvěrů, jádrové inflace, růstu mezd, cen nemovitostí a také to, do jaké míry se vyšší dlouhodobé tržní sazby promítají do úroků z úvěrů.
Trh aktuálně prostřednictvím FRA kontraktů zaceňuje tři zvýšení sazeb o 25 bazických bodů do prvního čtvrtletí příštího roku. FRA kontrakty slouží k zajištění budoucích úrokových sazeb a běžně se využívají jako indikátor očekávání trhu ohledně dalšího vývoje měnové politiky.
Takový výhled označil Kubíček za přehnaný. Zároveň však dodal, že by ho uklidnilo zpomalení růstu mezd a jádrové inflace. „Uklidnilo by mě také, kdybychom viděli zpomalování jádrové inflace. Čekáme na to už delší dobu a stále v to věříme. Velmi by mi pomohlo i to, kdybychom alespoň viděli konec zrychlování všech typů úvěrů,“ řekl Kubíček.
Podle něj zároveň existují známky toho, že růst cen nemovitostí začíná kulminovat. Také růst mezd by měl zpomalit po překvapivě silném meziročním nárůstu o 8,1 % v prvním čtvrtletí.
Banky byly podle něj dosud pod konkurenčním tlakem, který jim bránil plně promítat vyšší dlouhodobé sazby do hypotečních úvěrů. To se však nyní může začínat měnit.
Dalším faktorem, který ČNB sleduje, je vývoj firemních marží. Banka zkoumá, zda podniky nevyužívají vyšších nákladů k navyšování ziskovosti. Data za první čtvrtletí však podle Kubíčka nic takového nenaznačují.
Celková meziroční inflace v Česku v červnu překvapivě klesla na 1,5 %, především díky vývoji cen potravin. Ceny služeb, které ČNB pečlivě sleduje, však nadále rostly svižným tempem 4,5 %. Jádrová inflace činila 2,8 %.
Kubíček zároveň uvedl, že neočekává, že by nová prognóza ČNB, která bude zveřejněna příští měsíc, přinesla výrazně odlišný pohled na ekonomiku oproti květnové prognóze. Podle něj by byla centrální banka spokojena, pokud inflace na začátku příštího roku nepřekročí horní hranici tolerančního pásma, tedy 3 % kolem dvouprocentního inflačního cíle.
Silná náladovost trhu
Vývoj tržních očekávání zároveň ukazuje, jak obtížné je dnes odhadovat další kroky centrálních bank. To platí nejen pro ČNB, ale také pro americký Fed, jehož budoucí rozhodování investoři v posledních týdnech výrazně přehodnocují.
Podle dat společnosti CME Group aktuálně trh přisuzuje přibližně 34% pravděpodobnost zvýšení sazeb na červencovém zasedání Fedu. Před týdnem přitom tato pravděpodobnost činila pouze 12 %, zatímco na konci června dosahovala 36 %. Jen 14. července se očekávání trhu změnila o 14 procentních bodů během jediného dne.
— Hedgeye (@Hedgeye) July 22, 2026 Významnou roli v těchto změnách hraje nejistota spojená s vývojem cen ropy a dopady konfliktu na Blízkém východě. Dražší energie tlačí vzhůru inflační očekávání, výnosy dluhopisů i náklady domácností, což následně ovlivňuje očekávanou trajektorii úrokových sazeb.
Pro investory je tak aktuálně mimořádně obtížné odhadovat další kroky centrálních bank. Geopolitické události i obtížně předvídatelné kroky americké administrativy mohou tržní očekávání měnit doslova ze dne na den. Současné prostředí proto ukazuje, že investoři by se měli více soustředit na příchozí ekonomická data než na krátkodobé výkyvy tržních sázek.
Bank of New York Mellon Corp decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 35.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,144,892 shares of the biotechnology company’s stock after selling 631,362 shares during the period. Bank of New York Mellon Corp owned 0.59% of BioMarin Pharmaceutical worth $64,675,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $26,000. CIBC Private Wealth Group LLC increased its position in BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after buying an additional 179 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in BioMarin Pharmaceutical in the 3rd quarter worth approximately $40,000. Parallel Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after buying an additional 295 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $45,000. 98.71% of the stock is currently owned by institutional investors.
BioMarin Pharmaceutical Stock Performance NASDAQ BMRN opened at $58.40 on Thursday. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 42.63, a PEG ratio of 0.45 and a beta of 0.24. The company has a 50 day moving average of $56.27 and a 200-day moving average of $56.82. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $66.28.
Insiders Place Their Bets In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the transaction, the executive vice president owned 51,818 shares in the company, valued at approximately $2,790,399.30. The trade was a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by corporate insiders.
Analysts Set New Price Targets Several brokerages have recently issued reports on BMRN. The Goldman Sachs Group began coverage on shares of BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a “neutral” rating and a $69.00 price objective on the stock. Bank of America cut their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. HC Wainwright reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Citigroup raised their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.26.
Read Our Latest Stock Analysis on BMRN
BioMarin Pharmaceutical Profile (Free Report)
BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.
The company’s commercial portfolio includes several approved therapies targeting inherited disorders.
Further Reading Five stocks we like better than BioMarin Pharmaceutical Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play
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SummaryCompaniesUnderlying growth reached 7% in the six months to end-JuneOperating profit rose 9% as margin up 70 basis pointsLegal unit grew 10%LONDON, July 23 (Reuters) - Information and analytics group RELX (REL.L), opens new tab reported accelerating growth in its scientific and legal divisions on Thursday, providing some relief to investors worried about the impact of AI companies like Anthropic on its business.
The British company reported underlying growth of 7% in the six months to end-June, while adjusted operating profit rose 9% as it improved its margin by 70 basis points.
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The performance of its scientific, technical and medical division and its legal unit was notable, with the former up by a record 6% and the latter up by 10%.
RELX reiterated its forecast for another year of "strong underlying growth" in revenue and adjusted operating profit.
Chief Executive Officer Erik Engstrom said an improving growth trajectory was driven by the shift towards higher-growth analytics and decision tools, underpinned by AI.
Shares in RELX and its rivals like Wolters Kluwer (WLSNc.AS), opens new tab and Thomson Reuters have been hit by concerns about the long-term impact of AI companies, such as Anthropic's push into the legal sector, on their business.
RELX's shares rose 2.6% after its results, which analysts at Citi said should be taken positively. But they are still trading 35% lower than they were a year ago.
Chief Financial Officer Nick Luff said RELX was applying generative AI capabilities to its trusted and curated data to help its customers in the legal, scientific, and financial services sectors.
He said hundreds of thousands of professionals were using the tools such as Lexis+ with Protege daily.
"We serve professional markets where trust really matters, where people care about getting the right answer that they can absolutely rely on," he said in an interview on Thursday.
"If you think of doctors, researchers, lawyers and banks, they are making high-value decisions where being roughly right is not good enough."
RELX reported revenue of £4.87 billion ($6.51 billion) and adjusted operating profit of £1.73 billion for the period.
($1 = 0.7484 pounds)
Reporting by Paul Sandle; Editing by Muvija M and Tomasz Janowski
Our Standards: The Thomson Reuters Trust Principles., opens new tab
RELX PLC (LSE:REL) shares rose 1.5% to 2,491p on Thursday after the FTSE 100 group delivered higher first-half revenue and profit as growing demand for its analytics and decision-making tools helped lift margins.
The information and analytics group reported underlying revenue growth of 7%, with adjusted operating profit increasing 9% to £1.7 billion as margins improved to 35.5% from 34.8%.
The company said continued process improvements allowed it to keep cost growth below revenue growth.
Growth was led by continued strength in Risk and Exhibitions, alongside accelerating momentum in the Scientific, Technical & Medical and Legal divisions.
Chief executive Erik Engstrom said growth was supported by strong performances across Risk and Exhibitions, alongside accelerating growth in its scientific, technical, medical and legal operations. Publishing and data-led divisions drove growth, while the exhibitions business also remained strong.
With worries about how AI might affect the business having hit the shares this year, Engstrom added: "The ongoing evolution of artificial intelligence is enabling us to add more value to our customers, to develop and launch higher value-add products at a faster pace, and continue to manage cost growth below revenue growth.
"This evolution has been a key driver of our business for well over a decade, and will remain a key driver of customer value and growth in our business for many years to come."
The board raised the interim dividend by 7% to 20.9p per share, with £1.75 billion of its planned £2.25 billion share buyback completed during the half.
For the full year, RELX continues to expect strong underlying growth in revenue and adjusted operating profit, alongside strong constant-currency growth in adjusted earnings per share.
Bessemer Group Inc. reduced its holdings in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) by 42.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,439 shares of the business services provider’s stock after selling 6,923 shares during the quarter. Bessemer Group Inc.’s holdings in Waste Connections were worth $1,534,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in WCN. Ritholtz Wealth Management increased its holdings in Waste Connections by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock valued at $533,000 after purchasing an additional 64 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of Waste Connections by 2.6% during the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock worth $449,000 after purchasing an additional 64 shares in the last quarter. WPG Advisers LLC lifted its stake in shares of Waste Connections by 7.7% during the fourth quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock worth $161,000 after purchasing an additional 66 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Waste Connections by 12.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock worth $106,000 after buying an additional 67 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of Waste Connections by 2.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,991 shares of the business services provider’s stock valued at $525,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.
Waste Connections Stock Down 0.3% Shares of NYSE:WCN opened at $167.91 on Thursday. The firm has a market cap of $42.37 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.49. The company has a fifty day simple moving average of $160.84 and a 200 day simple moving average of $163.28. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $191.91.
Waste Connections (NYSE:WCN – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.51 billion. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. On average, equities research analysts anticipate that Waste Connections, Inc. will post 5.49 EPS for the current fiscal year.
Insider Activity In other news, COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.59, for a total value of $234,885.00. Following the completion of the transaction, the chief operating officer owned 32,861 shares in the company, valued at approximately $5,145,703.99. This trade represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the acquisition, the chief executive officer directly owned 301,017 shares in the company, valued at approximately $45,826,828.08. The trade was a 19.92% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 17,605 shares of company stock valued at $2,822,923 over the last three months. Company insiders own 0.27% of the company’s stock.
Trending Headlines about Waste Connections Here are the key news stories impacting Waste Connections this week:
Positive Sentiment: Waste Connections beat Q2 expectations, reporting EPS of $1.50 versus the $1.35 consensus and revenue of $2.56 billion versus $2.51 billion expected, which points to steady demand and better-than-expected execution. Waste Connections Reports Second Quarter 2026 Results and Raises Full Year Outlook Positive Sentiment: The company raised its full-year outlook after the quarter, suggesting management sees continued momentum in revenue growth and margin expansion for the rest of 2026. Waste Connections Reports Second Quarter 2026 Results and Raises Full Year Outlook Positive Sentiment: The board declared a regular quarterly cash dividend of $0.35 per share, reinforcing the company’s shareholder-return profile and financial stability. Waste Connections Announces Regular Quarterly Cash Dividend Positive Sentiment: Q2 revenue grew 6.4% year over year and cash from operations rose 14.9%, both signs of healthy underlying business performance. Waste Connections (WCN) Releases Q2 2026 Earnings: Revenue Up 6.4%, EPS Grows 4.5% Neutral Sentiment: Some individual earnings coverage also highlighted margin expansion and an upgraded outlook, but the stock’s longer-term reaction may depend on whether investors focus more on guidance strength than on mixed profit-line details. Waste Connections tops Q2 estimates, raises outlook as margins expand Wall Street Analyst Weigh In WCN has been the topic of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Citigroup upped their target price on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Barclays set a $180.00 price target on shares of Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their price target on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Finally, Weiss Ratings lowered shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and an average price target of $202.00.
Read Our Latest Research Report on WCN
Waste Connections Profile (Free Report)
Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.
The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.
Featured Stories Five stocks we like better than Waste Connections Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCN – Free Report).
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Veteran economist Peter Schiff has warned that the sharp decline in SpaceX (NASDAQ: SPCX) stock could be a warning sign for other high-cap assets that have benefited from investor enthusiasm.
In a July 22 post on X, Schiff highlighted that SpaceX last closed just above $115 per share, nearly 20% below its $135 IPO price and almost 50% below its post-listing peak of $225.
The stock’s reversal, he argued, could represent a broader shift in sentiment toward “overhyped” assets. Interestingly, the economist mentioned not only equities but cryptocurrencies too, which have really struggled this year.
“SPCX closed just above $115, nearly 20% below its IPO price and almost 50% below its high. This could be a harbinger of things to come for other overhyped stocks and cryptos. Look out below!” Schiff wrote.
$SPCX closed just above $115, nearly 20% below its IPO price and almost 50% below its high. This could be a harbinger of things to come for other overhyped stocks and cryptos. Look out below!
— Peter Schiff (@PeterSchiff) July 22, 2026 SpaceX stock price could serve as a market benchmark Trading at $115, the space exploration company is down 6.7% on the daily chart as of press time, July 23.
SpaceX stock daily price. Source: Google Finance
The decline has come amid concerns over lofty valuations, broader weakness in technology stocks, and potential future selling pressure as additional shares become available following lockup restrictions.
Known for his skepticism regarding speculative investments of all sorts, the analyst has repeatedly argued that markets may be pricing in overly optimistic expectations around artificial intelligence (AI), digital assets, and high-growth companies.
Notably, Schiff had issued a similar warning just a couple of days prior, claiming that the AI stock rally may be nearing a major reversal, pointing to the recent decline in SpaceX shares as a possible warning signal.
However, it must be noted that Schiff does not believe artificial intelligence itself is a bubble. Rather, he argues that investor enthusiasm surrounding AI-related stocks has likely become excessive.
“AI isn’t a bubble, but AI stocks are. The bubble has likely already popped,” Schiff wrote.
Similarly, he also pointed to increasing competition in the sector, particularly from lower-cost Chinese AI models such as Moonshot AI’s Kimi K3 and DeepSeek Chat. More precisely, he argued that U.S. AI companies could face pressure as investors reassess valuations and the long-term competitive landscape.
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Apple Entry Set To Intensify CompetitionCounterpoint forecasts global foldable smartphone shipments will grow 21% year over year in 2026, driven by demand for premium book-style devices, broader vendor competition and Apple’s expected foldable iPhone launch.
The research firm expects Samsung Electronics to retain the top position with a 32% market share, down from 40% in 2025. Apple is projected to capture a 25% share in its first year, while Huawei is expected to hold 24%. Motorola, and HONOR are forecast to account for 8% and 3%, respectively.
Samsung Still Holds The EdgeCounterpoint Associate Director Liz Lee said 2026 will mark a turning point for the foldable smartphone market as Apple’s arrival expands consumer awareness and raises competition in the premium segment.
“2026 will mark a new phase for the foldable smartphone market. Apple’s entry is expected to lift overall consumer awareness and raise the benchmark for premium foldables, but Samsung still has a clear advantage in product maturity, channel reach and foldable user experience,” Lee said.
Lee added that Samsung’s upcoming wider foldable design could improve multitasking and AI-assisted workflows by offering more usable screen space, helping the company maintain an edge despite Apple’s entry.
AI Could Drive Foldable AdoptionCounterpoint said larger displays are becoming more important as artificial intelligence assistants evolve beyond chatbots into tools that summarize documents, edit content, manage schedules and perform tasks across multiple applications. Wider foldable devices could therefore become increasingly attractive for productivity-focused users.
The firm expects Samsung’s upcoming Galaxy Unpacked event to be an important catalyst for the category, with Samsung anticipated to unveil the Galaxy Z8 Flip, Galaxy Z8 Fold and a wider book-style foldable device ahead of Apple’s expected market entry.
AAPL Price Action: Apple shares were down 0.53% at $324.16 during premarket trading on Thursday. The stock is approaching its 52-week high of $334.99, according to Benzinga Pro data.
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Audent Global Asset Management LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 20.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,302 shares of the social networking company’s stock after selling 1,124 shares during the period. Meta Platforms comprises 2.6% of Audent Global Asset Management LLC’s holdings, making the stock its 16th largest position. Audent Global Asset Management LLC’s holdings in Meta Platforms were worth $2,461,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. RHL Group LLC acquired a new position in Meta Platforms during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC bought a new position in Meta Platforms in the fourth quarter valued at approximately $29,000. Niles Investment Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $29,000. Bayban increased its position in shares of Meta Platforms by 100.0% during the 1st quarter. Bayban now owns 70 shares of the social networking company’s stock worth $40,000 after purchasing an additional 35 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth approximately $42,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Price Performance Shares of META opened at $627.17 on Thursday. The firm has a market capitalization of $1.59 trillion, a PE ratio of 22.80, a PEG ratio of 1.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The company’s 50-day moving average is $605.14 and its 200-day moving average is $626.29. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. The business had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. Meta Platforms’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.43 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 30.04 EPS for the current year.
Meta Platforms Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, June 15th. Meta Platforms’s payout ratio is currently 7.63%.
Key Headlines Impacting Meta Platforms Here are the key news stories impacting Meta Platforms this week:
Positive Sentiment: A Florida teen dropped his lawsuit against Meta over alleged social-media addiction harms ahead of trial, reducing legal overhang and removing a potential headline risk for the company. Positive Sentiment: Jefferies said Meta’s AI glasses could become a long-term hardware growth driver, noting strong early product reception and Meta’s first-mover advantage in shipping AI glasses at scale. Positive Sentiment: Multiple reports highlighted strong demand for AI infrastructure led by Meta, including record hyperscaler leasing and speculation around a large compute deal with Anthropic, reinforcing confidence in Meta’s AI spending strategy. Positive Sentiment: Wells Fargo and Rothschild & Co Redburn both raised price targets on Meta, signaling that some Wall Street analysts remain constructive on the stock’s longer-term upside. Neutral Sentiment: Meta continues to face mixed sentiment around its AI push, including scrutiny over heavy capital spending and broader concerns about big-tech debt and future infrastructure commitments. Neutral Sentiment: Commentary comparing Meta with other Magnificent 7 names suggests investors are watching upcoming earnings closely for signs that the company can re-accelerate enthusiasm around the stock. Negative Sentiment: Analysts cited by Zacks warned Meta may report weaker earnings growth in its upcoming results, which could weigh on sentiment if the company disappoints expectations. Negative Sentiment: Several articles continued to focus on regulatory and legal risks tied to social-media harms, including criticism of Meta’s platforms and broader scrutiny of addictive features. Insider Transactions at Meta Platforms In related news, COO Javier Olivan sold 3,348 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $600.97, for a total value of $2,012,047.56. Following the completion of the sale, the chief operating officer directly owned 9,498 shares in the company, valued at $5,708,013.06. The trade was a 26.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,195 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.84, for a total value of $5,589,088.80. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $8,014,978.24. This represents a 41.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 37,948 shares of company stock worth $23,184,319 over the last three months. Company insiders own 13.53% of the company’s stock.
Analysts Set New Price Targets Several equities research analysts have recently commented on the company. Piper Sandler started coverage on Meta Platforms in a report on Tuesday, June 2nd. They issued an “overweight” rating for the company. Roth Capital restated a “buy” rating on shares of Meta Platforms in a report on Thursday, April 30th. Stifel Nicolaus dropped their price target on shares of Meta Platforms from $805.00 to $780.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. UBS Group cut their price target on shares of Meta Platforms from $865.00 to $766.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Finally, Sanford C. Bernstein decreased their price objective on shares of Meta Platforms from $900.00 to $850.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $835.64.
Check Out Our Latest Analysis on META
Meta Platforms Profile (Free Report)
Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
Further Reading Five stocks we like better than Meta Platforms Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play
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Atlas Wealth LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4,320.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 117,412 shares of the social networking company’s stock after acquiring an additional 114,756 shares during the quarter. Meta Platforms accounts for about 8.2% of Atlas Wealth LLC’s portfolio, making the stock its 2nd biggest holding. Atlas Wealth LLC’s holdings in Meta Platforms were worth $67,175,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RHL Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $29,000. Niles Investment Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $29,000. Bayban lifted its stake in Meta Platforms by 100.0% in the 1st quarter. Bayban now owns 70 shares of the social networking company’s stock valued at $40,000 after buying an additional 35 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms News Summary Here are the key news stories impacting Meta Platforms this week:
Positive Sentiment: A Florida teen dropped his lawsuit against Meta over alleged social-media addiction harms ahead of trial, reducing legal overhang and removing a potential headline risk for the company. Positive Sentiment: Jefferies said Meta’s AI glasses could become a long-term hardware growth driver, noting strong early product reception and Meta’s first-mover advantage in shipping AI glasses at scale. Positive Sentiment: Multiple reports highlighted strong demand for AI infrastructure led by Meta, including record hyperscaler leasing and speculation around a large compute deal with Anthropic, reinforcing confidence in Meta’s AI spending strategy. Positive Sentiment: Wells Fargo and Rothschild & Co Redburn both raised price targets on Meta, signaling that some Wall Street analysts remain constructive on the stock’s longer-term upside. Neutral Sentiment: Meta continues to face mixed sentiment around its AI push, including scrutiny over heavy capital spending and broader concerns about big-tech debt and future infrastructure commitments. Neutral Sentiment: Commentary comparing Meta with other Magnificent 7 names suggests investors are watching upcoming earnings closely for signs that the company can re-accelerate enthusiasm around the stock. Negative Sentiment: Analysts cited by Zacks warned Meta may report weaker earnings growth in its upcoming results, which could weigh on sentiment if the company disappoints expectations. Negative Sentiment: Several articles continued to focus on regulatory and legal risks tied to social-media harms, including criticism of Meta’s platforms and broader scrutiny of addictive features. Insider Buying and Selling at Meta Platforms In other news, insider Curtis J. Mahoney sold 2,079 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the transaction, the insider owned 1,118 shares of the company’s stock, valued at approximately $681,890.56. The trade was a 65.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 500 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $607.75, for a total transaction of $303,875.00. Following the completion of the sale, the director directly owned 3,443 shares of the company’s stock, valued at $2,092,483.25. This represents a 12.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,948 shares of company stock worth $23,184,319 in the last three months. 13.53% of the stock is owned by corporate insiders.
Meta Platforms Trading Down 2.6% Shares of Meta Platforms stock opened at $627.17 on Thursday. The stock has a market cap of $1.59 trillion, a P/E ratio of 22.80, a P/E/G ratio of 1.07 and a beta of 1.25. The stock’s 50 day simple moving average is $605.14 and its 200-day simple moving average is $626.29. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same period in the prior year, the business earned $6.43 earnings per share. The business’s revenue was up 33.1% compared to the same quarter last year. Analysts predict that Meta Platforms, Inc. will post 30.04 EPS for the current fiscal year.
Meta Platforms Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 15th. Meta Platforms’s dividend payout ratio is presently 7.63%.
Wall Street Analyst Weigh In Several equities research analysts have commented on the company. Weiss Ratings lowered Meta Platforms from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. The Goldman Sachs Group downgraded Meta Platforms from a “buy” rating to a “sell” rating in a research report on Tuesday, June 2nd. Wolfe Research lowered their price target on Meta Platforms from $850.00 to $800.00 and set an “outperform” rating on the stock in a research note on Friday, April 10th. Stifel Nicolaus dropped their price target on Meta Platforms from $805.00 to $780.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Piper Sandler assumed coverage on Meta Platforms in a research note on Tuesday, June 2nd. They issued an “overweight” rating for the company. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $835.64.
Get Our Latest Report on META
Meta Platforms Profile (Free Report)
Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
Further Reading Five stocks we like better than Meta Platforms Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Free Report).
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Assetmark Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 948,122 shares of the social networking company’s stock after acquiring an additional 41,513 shares during the period. Meta Platforms accounts for approximately 1.1% of Assetmark Inc.’s investment portfolio, making the stock its 17th biggest holding. Assetmark Inc.’s holdings in Meta Platforms were worth $542,449,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. RHL Group LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $28,000. Strategic Wealth Advisors LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $29,000. Niles Investment Management LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $29,000. Bayban boosted its holdings in shares of Meta Platforms by 100.0% during the 1st quarter. Bayban now owns 70 shares of the social networking company’s stock worth $40,000 after buying an additional 35 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $42,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling In related news, CTO Andrew Bosworth sold 7,847 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the completion of the sale, the chief technology officer directly owned 414 shares of the company’s stock, valued at approximately $251,641.62. This represents a 94.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Susan J. Li sold 9,195 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.84, for a total value of $5,589,088.80. Following the transaction, the chief financial officer owned 13,186 shares in the company, valued at approximately $8,014,978.24. This trade represents a 41.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 37,948 shares of company stock worth $23,184,319 over the last three months. Company insiders own 13.53% of the company’s stock.
Meta Platforms Trading Down 2.6% NASDAQ:META opened at $627.17 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a 50-day moving average of $605.14 and a 200-day moving average of $626.29. The company has a market cap of $1.59 trillion, a PE ratio of 22.80, a PEG ratio of 1.07 and a beta of 1.25. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $796.25.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion for the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter last year, the firm earned $6.43 EPS. As a group, equities research analysts expect that Meta Platforms, Inc. will post 30.04 EPS for the current fiscal year.
Meta Platforms Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is 7.63%.
Meta Platforms News Roundup Here are the key news stories impacting Meta Platforms this week:
Positive Sentiment: A Florida teen dropped his lawsuit against Meta over alleged social-media addiction harms ahead of trial, reducing legal overhang and removing a potential headline risk for the company. Positive Sentiment: Jefferies said Meta’s AI glasses could become a long-term hardware growth driver, noting strong early product reception and Meta’s first-mover advantage in shipping AI glasses at scale. Positive Sentiment: Multiple reports highlighted strong demand for AI infrastructure led by Meta, including record hyperscaler leasing and speculation around a large compute deal with Anthropic, reinforcing confidence in Meta’s AI spending strategy. Positive Sentiment: Wells Fargo and Rothschild & Co Redburn both raised price targets on Meta, signaling that some Wall Street analysts remain constructive on the stock’s longer-term upside. Neutral Sentiment: Meta continues to face mixed sentiment around its AI push, including scrutiny over heavy capital spending and broader concerns about big-tech debt and future infrastructure commitments. Neutral Sentiment: Commentary comparing Meta with other Magnificent 7 names suggests investors are watching upcoming earnings closely for signs that the company can re-accelerate enthusiasm around the stock. Negative Sentiment: Analysts cited by Zacks warned Meta may report weaker earnings growth in its upcoming results, which could weigh on sentiment if the company disappoints expectations. Negative Sentiment: Several articles continued to focus on regulatory and legal risks tied to social-media harms, including criticism of Meta’s platforms and broader scrutiny of addictive features. Analysts Set New Price Targets Several analysts have recently commented on the stock. Mizuho reduced their price objective on shares of Meta Platforms from $850.00 to $835.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Erste Group Bank raised shares of Meta Platforms from a “hold” rating to a “buy” rating in a research note on Tuesday, July 7th. TD Cowen reduced their price target on shares of Meta Platforms from $820.00 to $800.00 and set a “buy” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $725.00 price target (down from $825.00) on shares of Meta Platforms in a research note on Thursday, April 30th. Finally, Bank of America dropped their price objective on shares of Meta Platforms from $885.00 to $820.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $835.64.
View Our Latest Research Report on META
About Meta Platforms (Free Report)
Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
See Also Five stocks we like better than Meta Platforms Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Free Report).
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SummaryCompaniesExecutives cited city-specific rules and operational snags for the measured rolloutAnalyst questioned why fleet size remains in the dozens, not hundredsTesla has contrasted its approach with Waymo's deliberate rolloutLOS ANGELES, July 23 (Reuters) - A year ago, Tesla (TSLA.O), opens new tab CEO Elon Musk said the company's robotaxi network would expand at a "hyper-exponential rate" and be available to half the population of the U.S. by the end of 2025.
On Wednesday's earnings call, Musk and his executive team struck a more guarded tone as they fielded analysts' questions about a slower-than-expected rollout.
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Since launching a small robotaxi pilot in Austin in June 2025, Tesla has expanded to only a handful of other cities, in Texas and Florida, with service often limited to outlying areas.
Tesla said paying customers have traveled 2.5 million miles in its robotaxi service, including 380,000 miles in rides without an in-vehicle safety monitor.
Tesla's unsupervised robotaxi miles remain well below the more than 220 million autonomous miles driven by Waymo through the end of March, underscoring the lead Alphabet's self-driving unit holds in commercial deployment, Forrester analyst Paul Miller said.
Barclays analysts wrote earlier this month that Tesla's perceived advantage in robotaxis is its "ability to scale more rapidly," but instead it "has been seen by many investors as somewhat 'slow.'"
Investors have valued Tesla on the promise that robotaxis and its Optimus humanoid robots will one day become its primary revenue drivers.
The stock trades at more than 166 times forward earnings estimates, far above the multiples of traditional automakers and Big Tech companies. The stock, which has fallen nearly 17% this year as of last close, was down about 4% in premarket trading.
WHY THE ROLLOUT IS SLOWERBefore the Austin launch last year, Musk talked about how Tesla's technology is "a general solution that works anywhere," in contrast to the more deliberate, city-by-city approach of Alphabet's (GOOGL.O), opens new tab Waymo, the U.S. leader in driverless taxis.
On Wednesday, Musk and other executives delved into the specific details of scaling up robotaxi service in individual cities.
"Regulatory situations are different city by city," said Lars Moravy, Tesla's vice president of vehicle engineering. "The reason we're expanding city by city is to make sure that we're meeting all of those one at a time."
CFO Vaibhav Taneja added "there are different kinks ... not just on the software front, but on the operations front, that we're trying to tackle."
He said the company wants to "sort these things out in a smaller fleet in a controlled manner" before going "really high in terms of deployment."
Wells Fargo analyst Colin Langan asked why the number of vehicles is still "in the dozens as opposed to hundreds." What is the "roadblock to start adding more vehicles on the ground?" he asked.
Tesla Vice President of AI Ashok Elluswamy said that even with a few vehicles, "you can get a lot of miles out of them."
He said the growth in robotaxi miles driven is "literally exponential. Just it's in the early part of the exponential. That's why it's hard for others to comprehend."
Musk on Wednesday's call reiterated that Tesla is balancing the pace of the expansion with safety. "We want to grow as fast as possible with robotaxi, without harm to anyone."
In an investor presentation in January, Tesla said that its robotaxis would expand to seven metro areas by the end of June: Dallas, Houston, Phoenix, Miami, Orlando, Tampa and Las Vegas.
Up until Tuesday, Tesla had only launched in three of those cities: Dallas, Houston and Miami, with service limited to outlying sections of Houston and Miami.
The company announced on Tuesday that it was "now in Tampa & Orlando," following several analyst reports ahead of earnings that mentioned the slow expansion.
But the service areas in those cities, like Miami and Houston, were limited to less-trafficked neighborhoods outside the city centers.
Reuters tested out the robotaxi service in the weeks after the Dallas and Houston launches and found long wait times, with sometimes no availability at all.
Reporting by Chris Kirkham in Los Angeles and Akash Sriram in Bengaluru; Editing by Mike Colias and Saumyadeb Chakrabarty
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Chris Kirkham is a business reporter in Los Angeles who writes about Tesla, electric vehicles and the wider automotive industry. He previously worked at The Wall Street Journal and the Los Angeles Times, and has covered topics including tobacco, worker safety, gambling, and the economy over a two-decade career. Contact him at [email protected] or on Signal at chris_kirkham.51
Akash reports on technology companies in the United States, electric vehicle companies, and the space industry. His reporting usually appears in the Autos & Transportation and Technology sections. He has a postgraduate degree in Conflict, Development, and Security from the University of Leeds. Akash's interests include music, football (soccer), and Formula 1.
On Wednesday’s earnings call, Elon Musk stopped short of confirming a Tesla-SpaceX merger and did something arguably worse for shareholders of Tesla (NASDAQ:TSLA | TSLA Price Prediction): he refused to shut the door.
Asked about synergies between his automaker and SpaceX, Musk told analysts, “Well, as you can tell from all the many collaborations on so many fronts with SpaceX, there’s more and more overlap, especially with Terafab, that’s really going to be a gigantic project.” He then pulled back, adding, “But obviously, we can’t talk about combining companies and that kind of thing on an earnings call, it has got to be done with the appropriate process.” Nothing was confirmed. Nothing was denied.
The overlap Musk referenced is already visible. Starlink connectivity is built into Cybertruck and planned across Tesla’s fleet, including Cybercab. The Grok chatbot is embedded in Tesla vehicles, Tesla is supplying batteries and manufacturing know-how to SpaceX, and Terafab is a jointly relevant AI chip facility. Q1 disclosures flagged a semiconductor fab under construction in Austin, and Tesla previously took a $2 billion equity stake in SpaceX. The integration is already operational.
The Dilution Problem Here is the part that should worry Tesla holders. BNP Paribas notes SpaceX’s cash flow is sharply negative. SpaceX is expected to burn roughly $30 billion this year and as much as $194 billion cumulatively through 2030. Folding that into Tesla would almost certainly require fresh equity raises, diluting existing shareholders. BNP Paribas has separately argued a merger “won’t save investors.”
That warning lands on top of a quarter that already rattled the base. Tesla posted Q2 2026 revenue of $28.24 billion, up 25.52% year over year and ahead of consensus, but non-GAAP EPS of $0.33 missed the $0.5367 estimate by 38.51%. Operating margin compressed to 1.4%. Gross margin slipped to 16.8% from 17.2% a year earlier. Free cash flow swung to a negative $1.092 billion as capex jumped 141.81% year over year to $5.789 billion. Shares fell nearly 3% in after-hours trading, and TSLA is now down 16.83% year to date.
Markets are pricing this ambiguity in real time. Deepwater Asset Management’s Gene Munster raised his odds of a Tesla-SpaceX merger from 80% to 90% after the call. Kalshi shows 52% odds of a merger by roughly May 2027. On Polymarket, the year-end 2026 announcement contract sits at 22.5%, with the September deadline at 9.5%.
No terms, structure, or timeline have been confirmed. That is the point. With operating income already down 56.88% year over year and a $25 billion capital budget in flight, Tesla investors now carry a second, unquantified risk: an equity-funded absorption of the most capital-hungry company in Musk’s orbit. Until Musk says otherwise, that risk is priced in and rising.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Tesla didn't make the cut. Grab the names FREE today.
Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) has filed an independent technical report supporting the mineral resource estimate for the Leven Star Reef at its 100%-owned Belltopper Gold Project in Victoria, while recent drilling at Wyloo in Western Australia has confirmed a significant silver-antimony-zinc mineralised system.
The Leven Star report formalises the mineral resource announced in June 2026, with Novo confirming there are no material differences between the previously released estimate and the figures contained in the final technical documentation.
Leven Star resource report filed The report, titled Mineral Resource Estimate: Leven Star Reef, Belltopper Gold Project, Malmsbury, Victoria, Australia, has an effective date of June 9, 2026, and an issue date of July 22, 2026.
It was prepared by Snowden Optiro principal consultant Janice Graham and independent technical adviser Dr Simon Dominy, both qualified persons under Canada’s NI 43-101 reporting standards.
Novo filed the report to meet Canadian securities law requirements and released it simultaneously to the ASX and TSX in accordance with its ASX Listing Rule 15.7 waiver.
The full report is available through Novo’s regulatory filings and on the SEDAR+ platform.
Wyloo drilling confirms mineralised system At the Wyloo Polymetallic Project in Western Australia’s Pilbara, maiden reverse circulation drilling has confirmed a significant hydrothermal alteration system carrying high-grade silver and antimony mineralisation from surface.
The 16-hole, 2,615-metre program at the Wyloo SE prospect returned a standout intercept of 9 metres at 92 g/t silver and 1,280 ppm antimony from surface, including 1 metre at 460 g/t silver and 1,425 ppm antimony from 2 metres.
Drilling also intersected broad zinc mineralisation, including 3 metres at 3.6% zinc, with a peak one-metre assay of 6.5% zinc within a wider 27-metre mineralised halo.
Exploration model strengthened The program tested mapped quartz-sulphide veining and the northeast-southwest-trending Tasha Fault Zone across seven drill sections.
Novo identified strong sericite and chlorite alteration zones of up to 20 metres thick, accompanied by sulphide mineralisation and highly anomalous arsenic.
Silver, antimony and zinc mineralisation has now been recorded across a 230-metre strike length, supporting Novo’s interpretation that Wyloo SE forms part of a broader mineralised system rather than an isolated occurrence.
Horizon Gold Ltd (ASX:HRN, OTC:HZGLF, FRA:HO0) has invited shareholders to attend an investor briefing webinar on MarketOpen Direct Connect.
Managing director and CEO Scott Williamson will provide an update on the recently released definitive feasibility study for the company’s 100%-owned Gum Creek Gold Project in Western Australia.
The briefing will be followed by an interactive question-and-answer session.
Webinar: https://bit.ly/4wh5dqc
Date: Wednesday, July 29, 2026
Time: 9.00am AWST / 11.00am AEST
Gum Creek DFS outlines robust development pathway The Gum Creek definitive feasibility study outlines a financially robust development pathway targeting first gold production in the second half of 2028.
The open-pit development is forecast to produce an average of 98,000 ounces of gold annually during its first five years, with total recovered production of 880,000 ounces over an initial 10-year mine life.
Based on a gold price of A$5,500 per ounce, Gum Creek is expected to generate A$1.85 billion in pre-tax free cash flow, a pre-tax net present value of A$1.31 billion and an internal rate of return of 53.1%.
Pre-production capital is estimated at A$350 million, including mine development, a new processing plant, supporting infrastructure and contingency.
The project has an estimated all-in sustaining cost of A$2,995 per ounce and a 23-month payback period from first production.
Elon Musk said aiming for a "high-efficiency capital spend" would just "slow things down." WEF/Getty images Elon Musk says Tesla should spend even more on AI — even if some money ends up being wasted.
The EV giant's capital expenditure soared 142% year-over-year to $5.8 billion in the second quarter as Musk's AI spending spree ramped up.
Speaking on an analyst call after Tesla's earnings on Thursday, Musk said that he had asked executives to keep accelerating the company's spending.
"We should be spending on capex as fast as we can spend — as fast as we can without it being too wasteful. So we're not trying to aim for some extremely high-efficiency capital spend because that would slow things down," Musk said.
Tesla is investing aggressively in new production lines and factories for its Cybercab robotaxi and Optimus humanoid robot.
The automaker recorded a negative free cash flow of $1.1 billion in the second quarter, its first shortfall since 2024, and Tesla's shares fell in premarket trading as the company's profits missed earnings expectations.
Executives told investors that AI spending will continue to grow, with Tesla's total capex spending expected to surpass $25 billion this year.
CFO Vaibhav Taneja said on the earnings call that Tesla was aiming to secure debt facilities to give it the capacity to borrow up to $30 billion.
He predicted spending would ramp up in the next 2-3 years as the company builds a new solar panel factory, installs more AI compute, and breaks ground on a massive 'Terafab' semiconductor fab that Tesla is building with SpaceX.
It comes as other tech giants burn through cash to keep up in the escalating AI race. Google recorded a negative free cash flow of nearly $6 billion in its second-quarter earnings on Wednesday and raised its capex predictions for the full year to as much as $205 billion.
Musk's comments on Tesla's spending efficiency come a year after he launched an assault on wasteful government spending with DOGE, and the world's richest man has continued to criticize government spending as prone to abuse and waste.
Musk told investors on Wednesday that Tesla's capex efficiency was "off-scale good" because the EV giant was investing in lots of productive assets like factories and infrastructure at the same time.
"I think probably this is the fastest industrial scale-up since World War II in America," Musk said.
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Wall Street is set for a moderately lower open on Thursday after mixed results from Alphabet and Tesla, while a fresh surge in oil prices revived concerns about inflation and interest rates.
Futures for the Dow Jones, S&P 500 and Nasdaq were all down around 0.3%.
This would see losses extended from the day before, when the Nasdaq dropped 0.6% to 25,691, the S&P fell 0.1% to 7,499, and the Dow finished essentially flat, down six points at 52,219.
After the closing bell, Alphabet Inc (NASDAQ:GOOG) beat revenue and earnings forecasts, with cloud revenue surging 82%, but its shares fell in after-hours trading after the Google owner raised its planned capital expenditure to as much as $205 billion this year. Shares were down 4.1% in pre-market trading.
Tesla Inc (NASDAQ:TSLA) shares declined 6.2% after reporting its first quarter of negative free cash flow in more than two years as operating costs surged.
European markets were also lower, led by a 1.7% decline in Milan as semiconductor manufacturer STMicroelectronics (NYSE:STM) fell sharply after weaker second-quarter earnings and soft third-quarter guidance disappointed investors following a three-month rally.
In commodities, WTI crude has jumped 4.1% on Thursday morning to above $90.65 a barrel, its highest level in six weeks, as US Central Command confirmed another round of strikes against Iran.
"Strikes between the US and Iran show no sign of easing, and the Houthis said they targeted two oil tankers in the Red Sea yesterday, raising fears that the conflict is widening," said Henry Allen at Deutsche Bank.
This has raised fresh supply fears as Saudi Arabia has redirected oil exports to the Red Sea port of Yanbu, prompting "fresh concerns about a more prolonged stagflationary shock", with investors pricing in higher inflation and a more hawkish path for central banks.
Fed futures now indicate a 36% chance of an interest-rate increase next week. The European Central Bank is expected to leave rates unchanged when it announces its latest decision later today.
Before the bell, earnings are due from defence groups RTX and Lockheed Martin, telecoms names T-Mobile and Nokia, and other heavyweights including Thermo Fisher, TotalEnergies, Blackstone, Freeport-McMoRan, Comcast and Honeywell.
After the close, attention turns to Intel and SAP, along with gold miner Newmont.
AR Asset Management Inc. raised its holdings in shares of CocaCola Company (The) (NYSE:KO – Free Report) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 176,595 shares of the company’s stock after purchasing an additional 6,364 shares during the period. CocaCola accounts for approximately 2.6% of AR Asset Management Inc.’s holdings, making the stock its 9th biggest holding. AR Asset Management Inc.’s holdings in CocaCola were worth $13,430,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Signature Equity Partners LLC increased its position in shares of CocaCola by 17.2% in the 1st quarter. Signature Equity Partners LLC now owns 4,129 shares of the company’s stock valued at $314,000 after buying an additional 605 shares in the last quarter. NewEdge Wealth LLC lifted its holdings in CocaCola by 6.1% during the first quarter. NewEdge Wealth LLC now owns 476,885 shares of the company’s stock worth $36,267,000 after acquiring an additional 27,266 shares in the last quarter. Arvest Bank Trust Division lifted its holdings in CocaCola by 9.5% during the first quarter. Arvest Bank Trust Division now owns 6,745 shares of the company’s stock worth $513,000 after acquiring an additional 587 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of CocaCola by 0.8% in the first quarter. First Citizens Bank & Trust Co. now owns 247,379 shares of the company’s stock worth $18,813,000 after acquiring an additional 1,906 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of CocaCola by 0.9% during the first quarter. First Trust Advisors LP now owns 4,056,824 shares of the company’s stock worth $308,521,000 after purchasing an additional 34,259 shares during the period. 70.26% of the stock is owned by institutional investors.
Insider Buying and Selling at CocaCola In related news, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $80.93, for a total value of $2,559,411.25. Following the completion of the sale, the executive vice president directly owned 223,330 shares in the company, valued at approximately $18,074,096.90. This trade represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman James Quincey sold 436,296 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $80.13, for a total value of $34,960,398.48. Following the completion of the sale, the chairman directly owned 122,833 shares of the company’s stock, valued at approximately $9,842,608.29. The trade was a 78.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 899,905 shares of company stock worth $71,832,315 over the last quarter. 0.90% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In A number of research firms recently issued reports on KO. Truist Financial set a $88.00 target price on CocaCola in a research note on Friday, June 26th. Sanford C. Bernstein set a $83.00 price target on shares of CocaCola in a research note on Thursday, July 9th. Bank of America upped their price target on shares of CocaCola from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, July 10th. JPMorgan Chase & Co. boosted their price target on CocaCola from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Finally, Morgan Stanley set a $89.00 price target on CocaCola in a report on Wednesday, June 10th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, CocaCola has an average rating of “Moderate Buy” and an average price target of $89.33.
View Our Latest Report on CocaCola
Key Stories Impacting CocaCola Here are the key news stories impacting CocaCola this week:
Positive Sentiment: Coca-Cola is getting attention for an AI-powered brand overhaul that aims to strengthen global recognition, support premium pricing, and improve marketing efficiency across more than 200 markets. Investors may view this as a sign the company is using technology to defend and expand its brand moat. Coca-Cola (KO) AI Brand Overhaul Puts Valuation Back In Focus Positive Sentiment: Separate coverage highlighted that Coca-Cola has used AI to improve its own branding and marketing, which may help drive better execution and sales efficiency. Another article pointed to a 15% vending-related surge tied to new AI marketing efforts, reinforcing the idea that digital tools could be boosting demand. Coca-Cola Used AI to Make Itself More Coca-Cola Neutral Sentiment: Market commentary noted that KO has already had a strong run this year, with shares up sharply over the past six months and valuation now a bigger focus. That can support confidence in the stock, but it also suggests less room for error at current levels. 2 Reasons to Watch KO and 1 to Stay Cautious Negative Sentiment: A hacking group claimed responsibility for a cyberattack on Coca-Cola’s Fairlife unit, with reports saying the gang threatened to publish stolen data unless it received a ransom. Production at Fairlife was reportedly disrupted, raising concerns about near-term sales and operational continuity for one of Coca-Cola’s fastest-growing businesses. Gang claims responsibility for hack at Coca-Cola’s fairlife unit Negative Sentiment: Additional coverage said Fairlife production was halted after the ransomware attack, which could temporarily affect store shelves and investor sentiment even if Coca-Cola’s core beverage business remains intact. A Ransomware Attack Just Halted Coca-Cola’s Fairlife Production and Knocked the Stock Down 4%. Should Dividend Investors Care? CocaCola Trading Up 0.4% Shares of NYSE:KO opened at $82.32 on Thursday. CocaCola Company has a one year low of $65.35 and a one year high of $85.68. The stock has a market capitalization of $354.19 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 3.32 and a beta of 0.34. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.36 and a quick ratio of 1.15. The company’s 50-day moving average price is $81.39 and its two-hundred day moving average price is $77.94.
CocaCola (NYSE:KO – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $12.47 billion during the quarter, compared to analysts’ expectations of $12.24 billion. CocaCola had a return on equity of 40.55% and a net margin of 27.80%.The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. CocaCola has set its FY 2026 guidance at 3.240-3.270 EPS. On average, equities analysts forecast that CocaCola Company will post 3.26 EPS for the current fiscal year.
CocaCola Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. CocaCola’s dividend payout ratio is 66.67%.
CocaCola Company Profile (Free Report)
The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.
Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.
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Alphabet delivered another blockbuster quarter for its cloud business, but investors focused instead on the rising cost of the artificial intelligence race.
The Google parent reported record growth in its cloud division and topped Wall Street's revenue expectations, yet shares fell more than 3.5% in premarket trading on Thursday after the company lifted its capital expenditure guidance for 2026 and reported negative free cash flow for the first time in its history.
Alphabet's biggest highlight came from Google Cloud, which posted its strongest quarterly performance on record.
Cloud revenue jumped 82% year over year to $24.8 billion in the quarter ended June, significantly exceeding analysts' expectations for roughly 64% growth, according to LSEG data.
The strong performance reflected robust enterprise demand for AI infrastructure and cloud computing services as companies continue deploying generative AI applications at scale.
Management also said cloud margins expanded during the quarter, while adoption of its Gemini AI models accelerated across enterprise customers.
Overall revenue exceeded Wall Street expectations, although adjusted earnings per share of $2.85 came in just below analysts' consensus estimate of $2.89.
Despite the earnings miss, analysts generally viewed the operating performance as strong, with cloud continuing to emerge as Alphabet's primary growth engine.
However, the positive cloud results were overshadowed by another sharp increase in Alphabet's investment plans.
Chief Financial Officer Anat Ashkenazi told analysts that the company now expects to spend between $195 billion and $205 billion in capital expenditures during 2026, above the previous guidance of $180 billion to $190 billion.
The revised outlook also exceeded analysts' expectations of approximately $188 billion, according to Visible Alpha.
"The increase in the range is primarily due to an acceleration in the delivery of capacity to meet growing demand," Ashkenazi said during the earnings call.
She added that Alphabet remains committed to investing aggressively in infrastructure as long as returns remain attractive.
"We're still in a supply-constrained environment," she said. "I think we've said this now for multiple quarters in a row, and we are seeing very strong demand both from external cloud customers as well as across the business."
The company attributed the higher spending to expanding data center capacity needed to support growing AI workloads and cloud demand.
The scale of Alphabet's investments was also reflected in its cash generation.
The company reported negative free cash flow of $5.9 billion during the quarter, a sharp reversal from nearly $25 billion in free cash flow generated during the same period last year.
Ashkenazi acknowledged that cash generation is likely to remain under pressure.
"We expect the free cash flow will remain under pressure, driven by our investments in technical infrastructure, which enables us to capitalize on the AI opportunity and continue to drive attractive returns," she said.
Bloomberg Intelligence analyst Mandeep Singh said the financial results were difficult to fault operationally but warned that the trajectory of capital spending could leave Alphabet generating negative free cash flow for an extended period.
"Right now they are probably $10-$15 billion free cash flow for this year, next year if this goes to $300 billion there is no way they're going to be positive free cash flow," Singh said on a Bloomberg Podcasts episode.
He added that from this perspective, despite a 24% topline growth, for a company at their scale with negative free cash flow, investors would like to see stronger contributions from Search, YouTube and other businesses rather than relying primarily on cloud growth.
Thomas Monteiro, senior analyst at Investing.com, expressed similar concerns.
"After a negative cash flow quarter, the new raise in capex does not sit well for Alphabet," he said.
"The market's most reliable cash generators are now spending more than they bring in. As long as revenue keeps accelerating, investors will tolerate it. But capital has a real cost again, and the room for error is shrinking every quarter."
AI competition remains intenseWhile GOOG Cloud continues benefiting from the AI boom, Alphabet's own AI products remain under close scrutiny.
The company delayed the launch of Gemini 3.5 Pro earlier this year, allowing rivals such as OpenAI and Anthropic to strengthen their positions in enterprise AI and coding assistants.
Chinese open-source AI models have also intensified competitive pressure.
During the earnings call, analysts repeatedly questioned Chief Executive Sundar Pichai about Google's ability to maintain leadership in frontier AI development.
"There are many attributes on which we are still at the frontier. There are areas where we've acknowledged we need to improve; coding and agentic coding is an example of that," Pichai said.
He added that Alphabet has already begun training Gemini 4 and is directing significant computing resources toward the next-generation model.
Analysts remain optimisticDespite investor concerns over spending, several brokerages maintained bullish views on the stock.
Mizuho said the higher capital expenditure guidance had been largely anticipated and argued the market reaction was surprising given the strength of the cloud business.
"As such, we are surprised the stock is trading off after hours and would expect it to recover in trading tomorrow," the firm wrote, reiterating its Buy rating.
Wolfe Research also reaffirmed its Outperform rating with a $460 price target after increasing its own capital expenditure estimates.
The brokerage expects Alphabet's AI infrastructure investments to continue expanding through 2027, forecasting capital expenditure could rise to around $330 billion as the company builds additional capacity for its Tensor Processing Units (TPUs).
Wolfe estimates Alphabet has already accumulated more than $100 billion in TPU-related sales within its backlog, with most of that revenue expected to begin materialising from 2027 onward as capacity comes online.
Google has been fined a total of €890m (£760m) by the EU for breaches of online competition laws by its search and app store services.
The European Commission, the EU’s executive arm, said Google had broken the Digital Markets Act by giving priority to its own services, such as shopping and hotel deals, in search results over those of its rivals.
It also infringed the DMA by preventing app developers from steering consumers towards cheaper offers, including for subscriptions, on websites or alternative app stores.
Google has been fined €460m for the search-related breach and €430m for the app store violation. The commission has ordered the company to treat third-party services that appear in its search results in a “fair and non-discriminatory manner” and allow app developers to make offers outside Google’s app store.
It noted that Google had already started testing changes to how it displays search results featuring its own services. It said those changes represent “substantial progress towards compliance”.
Consumers will be direct beneficiaries of the decision by the EU, a senior official said. “Research results will be in different in Europe. They will have to adapt their search engine going forward,” they said.
Max von Thun, director of the Open Markets Institute Europe thinktank, said the fines were the “bare minimum” for a company that made revenues of just over $400bn last year.
“Having finally established Google’s non-compliance, the commission must now move quickly to force Google to end its anti-competitive practices once and for all. Europe’s startups and innovators cannot wait much longer,” he said.
The decision to impose the fine risks the ire of Donald Trump, only hours before a series of temporary global tariffs against about 60 countries expires.
A senior official for the EU said they had no knowledge of how Trump was likely to react, insisting that the bloc had the “sovereign right” to regulate US tech companies in its own jurisdiction and that the timing of the fine was not connected to tariffs.
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Last year Apple and Mark Zuckerberg’s Meta were fined under the DMA. Apple was told to pay €500m for anti-competitive practices at its app store and Meta was told to pay €200m in a ruling on its ad-free “consent or pay” proposal for facebook and Instagram.
Google can appeal against the decision and ask for interim measures, including a request to suspend the measure. The search company’s president of global affairs, Kent Walker, described the fine as “product degradation driven by a small group of self-serving complainants” that will have a negative impact on European businesses and consumers.
He argued that the DMA forces Google “to strip away real-time search features Europeans love – like instant pricing and direct availability for hotels, flights, and restaurants – and dismantle safety protections on Google Play”.
Alphabet (NASDAQ: GOOGL) has reported a larger-than-expected increase in capital spending for the past quarter, but Google stock price targets suggest analysts are still confident in the technology conglomerate.
Notably, Barclays raised its price target on Alphabet on July 23 from $405 to $425 while reiterating its “Overweight” rating on solid leadership across the artificial intelligence (AI) ecosystem despite near-term cost pressures.
The brokerage further added that the second-quarter results only reinforced Alphabet’s position at every major layer of AI, from consumer applications such as Search and Gemini to AI models, which the management believes could accelerate in the coming quarters as AI adoption expands.
However, the firm warned that Alphabet faces mounting expenses as it competes with rivals including Anthropic, OpenAI, and Amazon Web Services (AWS). At the same time, Barclays lowered its free cash flow forecast due to increased capital expenditures and trimmed its earnings-per-share (EPS) estimates for the fourth quarter and the first quarter of 2027.
Evercore reiterates its Google price target Following the report, Evercore ISI reiterated its “Outperform” rating on Alphabet, maintaining a $420 price target and expressing optimism despite investor concerns over rising AI expenditures.
Analyst Mark Mahaney stated that while the bar was high, the company managed to mostly clear it, with the Cloud being the standout business, with 82% revenue growth and 36% operating margins.
“Our Take: The bar was high, and in our opinion, GOOGL mostly cleared it. Most impressive are the Cloud results – both the 82% revenue growth and the record-high 36% operating margin. Looks like a positive read-through for the AI Trade,” Mahaney wrote.
In addition, Evercore raised its revenue and operating income estimates but increased its 2027 free cash flow loss projection from $20 billion to $50 billion due to the higher capital expenditure guidance.
Despite the Google stock price target increase, the shares plummeted 3.3% in after-hours trading, effectively wiping $138 billion from Alphabet’s market capitalization.
Google stock price 24-hour chart. Source: Google The downward move appears largely driven by earnings per share, which came in at $2.85, lower than the expected $2.89.
Featured image via Shutterstock
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SummaryCompaniesGoogle fined €460 million for favouring own servicesAnother €430 million fine for anti-steering restrictionsEU laws must be fully respected, EU antitrust chief saysEU says constructive talks with Google, more fines unlikelyBRUSSELS, July 23 (Reuters) - Alphabet's (GOOGL.O), opens new tab Google was fined a total of €890 million ($1 billion) on Thursday for flouting European Union rules aimed at reining in the power of Big Tech, the European Commission said.
However, the U.S. tech giant is likely to avoid fresh fines as EU regulators lauded good progress in its ongoing efforts to comply with the landmark legislation.
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The fines underscored Europe's determination to prevent Big Tech companies from thwarting rivals, defying U.S. criticism and retaliatory tariff threats.
One fine of €460 million was handed out to Google by the European Commission under the Digital Markets Act for favouring its own services in shopping, hotels, transport and sports results in search results.
A second fine of €430 million targeted Google's restrictions on its app store Google Play preventing app developers from steering users free of charge to cheaper offers on rival app stores or websites.
Reuters was the first to report on both fines, which are the first for the U.S. tech giant under the DMA but the fifth and sixth overall for anti-competitive practices, making for total penalties of €10.38 billion over nearly two decades.
"Our duty and obligation is to comply with the laws, that our laws are fully respected," EU antitrust chief Teresa Ribera told reporters when asked about U.S. pushback.
"The DMA is to make sure we have a fair and level playing field. With these decisions we want to make sure there is competition," EU tech chief Henna Virkkunen told reporters.
Google, which has 60 days to comply with the Commission's orders to treat rivals in a fair and non-discriminatory manner and to allow app developers to steer users away from its app store, criticised the EU findings and said it might take the Commission to court.
"To comply, we are having to strip away real-time Search features Europeans love - like instant pricing and direct availability for hotels, flights, and restaurants - and dismantle safety protections on Google Play," Google President of Global Affairs Kent Walker said in a statement.
"This isn't fair competition; it's product degradation driven by a small group of self-serving complainants, with European businesses and consumers taking the hit. Regulation should improve products, not make them worse," he said.
MORE FINES UNLIKELY GIVEN 'CONSTRUCTIVE DIALOGUE'The Commission, which acts as the EU competition enforcer, pointed to a "constructive dialogue" with Google and significant progress made to comply with the DMA, indicating that daily penalties for non-compliance are likely off the table.
"Google has proposed and started testing changes to how it presents its own services on Google Search for free services such as shopping, hotels and flights," the Commission said, calling it substantial progress.
"The Commission also notes that Google has proposed and started testing changes to how it presents shopping ads and content related services, such as sports," it said, adding it would assess the changes and continue talks with Google.
The EU watchdog also said Google may apply the principles of Thursday's decision to its AI-generated summaries known as AI Overviews and AI Mode and that talks would continue to this end.
Google's changes to its steering terms on Google Play received a tentative thumbs up from the Commission.
"These constitute good progress towards compliance and will also be assessed in light of the cease and desist order of today's decision," it said.
Europe's crackdown on Big Tech has angered U.S. President Donald Trump's administration, which has threatened to retaliate with tariffs for what he said are moves targeting U.S. companies while U.S. lawmakers have also piled on the pressure.
The fines are the third under the DMA after penalties handed out to Apple and Meta Platforms in April last year.
($1 = 0.8763 euros)
Reporting by Foo Yun Chee Editing by Tomasz Janowski
Our Standards: The Thomson Reuters Trust Principles., opens new tab
An agenda-setting and market-moving journalist, Foo Yun Chee is a 21-year veteran at Reuters. Her stories on high profile mergers have pushed up the European telecoms index, lifted companies' shares and helped investors decide on their next move. Her knowledge and experience of European antitrust laws and developments helped her break stories on Microsoft, Google, Amazon, Meta and Apple, numerous market-moving mergers and antitrust investigations. She has previously reported on Greek politics and companies, when Greece's entry into the eurozone meant it punched above its weight on the international stage, as well as on Dutch corporate giants and the quirks of Dutch society and culture that never fail to charm readers.
European regulators have fined Google 890 million euros ($1 billion), alleging the company gives preferential treatment to its own services.
The fine is Google's first under the European Union's sweeping Digital Markets Act (DMA) which aims to scrutinize Big Tech's operating practices in Europe.
Shares of Google-parent Alphabet were around 4% lower in premarket trading, but that primarily reflected investor unease over rising AI spending outlined in the company's earnings report on Wednesday.
The European Commission, the EU's executive arm, said it found that Google gives preferential treatment to its own services, such as shopping and hotels, over those of third parties in search.
Google displays its own services "more prominently in search results," while similar third parties "do not have the same prominence," the Commission said.
The U.S. tech giant is also in breach of so-called anti-steering measures. Under the regulation, app developers who distribute their product via Google Play should be able to inform customers of alternative, sometimes cheaper offers. Those developers should be able to direct customers to those offers even if they are on external websites outside of the Google Play Store.
The Commission said Google failed to comply with that obligation.
"In particular, Google prevents app developers from freely communicating and promoting offers and concluding contracts with users in distribution channels of their choice, including third-party app stores," the Commission said.
Kent Walker, president of global affairs at Google and Alphabet, said the DMA will ruin the product experience for users.
"This implementation of the DMA continues to break everyday products. To comply, we are having to strip away real-time Search features Europeans love — like instant pricing and direct availability for hotels, flights, and restaurants — and dismantle safety protections on Google Play," Walker said in a statement.
"This isn't fair competition; it's product degradation driven by a small group of self-serving complainants, with European businesses and consumers taking the hit. Regulation should improve products, not make them worse."
Google said it is reviewing the decision and evaluating whether to appeal.
EU orders Google changesThe regulator said it ordered Google to treat third-party services on search results in a "fair and non-discriminatory manner." It also said that Google needs to allow app developers who distribute their apps via the Google Play Store to "promote offers and conclude contracts with users not only within but also outside the Google Play app store."
The Commission said Google proposed and began testing changes to how it presents its own services on search. The regulator said it would monitor the implementation of this move, which constitutes "substantial progress towards compliance."
Google has also rolled out changes related to its steering terms in its app store.
The tech giant has 60 days to comply with the Commission's decision, or it could be fined up to 5% of its worldwide turnover.
The EU introduced the Digital Markets Act in 2024. Under the law, large tech platforms such as Alphabet, Apple and Meta have been designated "gatekeepers," which means they are subject to additional provisions in the law.
Google argues these changes to search could degrade the experience for European users and potentially impact travel businesses that gain users and bookings via its search platform.
In relation to the app store, Google argues that sending users to third-party sites also brings security risks.
Alphabet shares pare back overnight as investors scrutinise its ever-increasing capex plans. Tesla is also down after missing on earnings while free cash flow turns negative.
The European Union on Thursday hit Google with a fine of 890 million euros ($1 billion) after it said the technology behemoth broke digital antitrust regulations by setting up Google Play and its ubiquitous search engine to corral consumers towards its own services and apps to the detriment of competitors.
It was the latest major crackdown on Big Tech by Brussels, which has led the world in reining in some of the world’s largest companies from Silicon Valley to Beijing.
Google had recently lost its appeal of a $4.5 billion antitrust fine imposed for throttling competition and reducing consumer choice through the dominance of its mobile Android operating system.
The European Union on Thursday hit Google with a fine of 890 million euros ($1 billion). AFP via Getty Images The European Commission, the bloc’s executive branch, said it was acting in the interest of consumers.
“The best products should succeed because they’re better, not because they’re owned by the company running the search engine. And European consumers have a right to be told by app developers where to sign up to the best offers, even when the app store owner does not get a cut,” said Teresa Ribera, the commission’s Executive Vice President for Clean, Just and Competitive Transition.
The EU said the tech giant set up Google Play and its ubiquitous search engine to corral consumers towards its own services and apps to the detriment of competitors. AP Photo/Virginia Mayo Google’s President of Global Affairs Kent Walker blasted the fine as “product degradation driven by a small group of self-serving complainants” that will negatively impact European businesses and consumers.
He said that the EU’s Digital Markets Act forces Google “to strip away real-time search features Europeans love — like instant pricing and direct availability for hotels, flights, and restaurants — and dismantle safety protections on Google Play.”
“In the EU, businesses have the right to compete fairly. Gatekeepers have the obligation to ensure a level playing field and consumers the right to choose for cheaper alternative offers,” European Commission spokesperson Thomas Regnier said.
Alphabet's Google has been fined a combined €890 million ($1 billion) by European Union regulators for violating landmark digital competition rules, even as Brussels acknowledged the company has made significant progress toward complying with the bloc's new antitrust framework.
The penalties, announced on Thursday under the Digital Markets Act, target GOOG treatment of rivals in its search engine and app marketplace, reinforcing the EU's determination to curb the market power of large technology companies despite growing political pressure from the United States.
However, the European Commission indicated that Google's recent efforts to modify its products have been constructive, suggesting the company is unlikely to face additional daily fines if it continues on its current compliance path.
The larger of the two penalties, worth €460 million, relates to Google's search engine.
The European Commission said Google unfairly favoured its own services in search results covering shopping, hotels, transport and sports, giving them preferential placement over competing offerings.
A second fine of €430 million concerns Google's Play Store policies, where regulators found the company prevented app developers from directing users, free of charge, to cheaper offers available on rival app stores or external websites.
The Commission said such practices breached the Digital Markets Act, legislation introduced to prevent dominant digital platforms from using their scale to disadvantage competitors.
"Our duty and obligation is to comply with the laws, so that our laws are fully respected," EU antitrust chief Teresa Ribera told reporters.
"The DMA is to make sure we have a fair and level playing field. With these decisions we want to make sure there is competition," EU tech chief Henna Virkkunen added.
Under the DMA, companies can face fines of up to 10% of their annual global turnover for violations.
According to an EU official cited by AFP, Thursday's penalties amount to roughly 0.22% of Google's global revenue.
Google criticised the Commission's findings, arguing that the required changes would ultimately harm consumers and businesses across Europe.
"To comply, we are having to strip away real-time Search features Europeans love - like instant pricing and direct availability for hotels, flights, and restaurants and dismantle safety protections on Google Play," Kent Walker, Google's President of Global Affairs, said in a statement.
"This isn't fair competition; it's product degradation driven by a small group of self-serving complainants, with European businesses and consumers taking the hit. Regulation should improve products, not make them worse."
The company has 60 days to comply with the Commission's cease-and-desist orders and said it is considering challenging the decision in court.
Despite the fines, the Commission struck a noticeably more conciliatory tone regarding Google's ongoing compliance efforts.
Officials pointed to what they described as a "constructive dialogue" with the company and highlighted meaningful progress in adapting several of its services to satisfy the DMA.
Google has already begun testing changes to how it displays its own shopping, hotel and flight services within Search, while also experimenting with modifications to shopping advertisements and sports-related content.
"The Commission also notes that Google has proposed and started testing changes to how it presents shopping ads and content-related services, such as sports," the regulator said.
It added that these changes will continue to be assessed through ongoing discussions with the company.
The Commission also indicated that the principles established in Thursday's decision could eventually apply to Google's AI-generated search products, including AI Overviews and AI Mode.
Separately, regulators said Google's revised steering rules for Play Store developers appear to represent "good progress towards compliance" and will also be evaluated further.
The comments suggest Brussels is unlikely to pursue additional financial penalties if Google continues implementing the required changes.
EU maintains pressure despite US criticismThe latest action highlights Europe's continued willingness to enforce its digital competition rules despite criticism from Washington.
The fines arrive just days before the first anniversary of a tariff agreement between the United States and the European Union that helped ease broader trade tensions.
US President Donald Trump's administration has repeatedly accused Brussels of unfairly targeting American technology companies and has threatened retaliatory tariffs over European digital regulation.
European officials, however, dismissed suggestions that geopolitical pressure would influence enforcement.
Ribera said the Commission's responsibility is "to ensure that the regulation that is being adopted by our sovereign institutions is fully enforced and respected."
She also noted that similar antitrust cases are being pursued in the United States, arguing that American regulators are addressing comparable competitive concerns.
The latest penalties mark the third major enforcement action under the Digital Markets Act after fines imposed on Apple and Meta Platforms last year.
Google has also faced a series of earlier EU antitrust cases.
Between 2017 and 2019, the company was fined a combined €8.2 billion under previous competition rules.
Last year, Brussels imposed another €2.95 billion penalty in a separate antitrust case, prompting renewed criticism from the Trump administration.
SummaryAlphabet reported strong Q2 results, with 24% YoY revenue growth and a 300% YoY net income surge.Despite a post-earnings sell-off driven by rising AI CapEx and negative free cash flow, I view this as a buying opportunity.GOOGL's aggressive AI and cloud investments are strategic loss leaders, deepening user entrenchment and expanding its moat.I maintain a bullish buy rating, seeing the CapEx-driven dip as temporary and supportive of long-term value creation. Heather Diehl/Getty Images News
Alphabet (GOOG/GOOGL) reported its Q2 earnings on July 22, and the market sold it off, largely on the headline that its AI capex spending (which commentators and investors have been bemoaning about the ROI
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