Track market-moving stories before they get noisy

Posted by Defense World Staff on Jul 23rd, 2026

Alpha Family Trust grew its stake in Walmart Inc. (NASDAQ:WMT – Free Report) by 191.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 27,615 shares of the retailer’s stock after acquiring an additional 18,135 shares during the period. Walmart comprises 1.7% of Alpha Family Trust’s investment portfolio, making the stock its 9th biggest holding. Alpha Family Trust’s holdings in Walmart were worth $3,432,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Lavaca Capital LLC grew its stake in Walmart by 10.9% during the 1st quarter. Lavaca Capital LLC now owns 19,936 shares of the retailer’s stock worth $2,478,000 after purchasing an additional 1,961 shares in the last quarter. AR Asset Management Inc. raised its holdings in Walmart by 2.4% in the first quarter. AR Asset Management Inc. now owns 82,265 shares of the retailer’s stock valued at $10,224,000 after acquiring an additional 1,965 shares in the last quarter. Signature Equity Partners LLC lifted its stake in Walmart by 21.0% in the first quarter. Signature Equity Partners LLC now owns 5,359 shares of the retailer’s stock worth $666,000 after acquiring an additional 931 shares during the last quarter. Godshalk Welsh Capital Management Inc. lifted its stake in Walmart by 1.8% in the first quarter. Godshalk Welsh Capital Management Inc. now owns 13,625 shares of the retailer’s stock worth $1,693,000 after acquiring an additional 245 shares during the last quarter. Finally, Arvest Bank Trust Division grew its holdings in Walmart by 30.3% during the 1st quarter. Arvest Bank Trust Division now owns 590,623 shares of the retailer’s stock worth $73,403,000 after acquiring an additional 137,361 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Walmart Stock Performance NASDAQ WMT opened at $109.33 on Thursday. The company has a fifty day moving average of $117.67 and a two-hundred day moving average of $122.09. The company has a market capitalization of $870.06 billion, a PE ratio of 38.36, a P/E/G ratio of 4.12 and a beta of 0.60. Walmart Inc. has a 1 year low of $95.29 and a 1 year high of $135.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.77 and a quick ratio of 0.23.

Walmart (NASDAQ:WMT – Get Free Report) last posted its earnings results on Thursday, May 21st. The retailer reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The business had revenue of $177.75 billion for the quarter, compared to analysts’ expectations of $174.84 billion. Walmart had a return on equity of 21.25% and a net margin of 3.13%.The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Walmart has set its FY 2027 guidance at 2.750-2.850 EPS and its Q2 2027 guidance at 0.720-0.740 EPS. As a group, analysts expect that Walmart Inc. will post 2.89 earnings per share for the current year.

Insider Buying and Selling In related news, Director C Douglas Mcmillon sold 19,416 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $118.63, for a total value of $2,303,320.08. Following the completion of the sale, the director owned 4,174,579 shares in the company, valued at $495,230,306.77. This represents a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher James Nicholas sold 2,900 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $118.19, for a total transaction of $342,751.00. Following the sale, the executive vice president owned 574,953 shares of the company’s stock, valued at approximately $67,953,695.07. This represents a 0.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 67,729 shares of company stock valued at $8,124,931 in the last 90 days. Company insiders own 0.09% of the company’s stock.

Trending Headlines about Walmart Here are the key news stories impacting Walmart this week:

Positive Sentiment: RBC reaffirmed an outperform rating on Walmart and set a $137 price target, signaling meaningful upside from current levels and helping support sentiment. Benzinga report on RBC rating reaffirmation Positive Sentiment: Walmart is being described as a solid growth stock, with articles citing above-average financial growth and positioning that could help it outperform the market. Zacks growth stock article Positive Sentiment: Walmart partnered with ReturnPro to refurbish and resell returned items, a move that could improve e-commerce margins, recover value from returns, and reduce waste. Yahoo Finance ReturnPro partnership article Analyst Upgrades and Downgrades A number of equities research analysts have recently weighed in on WMT shares. Wolfe Research restated an “outperform” rating and issued a $137.00 price objective (up from $135.00) on shares of Walmart in a report on Monday, May 11th. Piper Sandler reissued an “overweight” rating on shares of Walmart in a report on Monday, June 8th. Sanford C. Bernstein restated an “outperform” rating on shares of Walmart in a research note on Monday, June 8th. Tigress Financial reaffirmed a “buy” rating and set a $155.00 price target (up from $150.00) on shares of Walmart in a report on Friday, May 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Walmart in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Walmart presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.85.

Check Out Our Latest Analysis on Walmart

Walmart Profile (Free Report)

Walmart is a multinational retail corporation that operates a broad portfolio of store formats and digital services. Its core business includes large-format supercenters, discount department stores, neighborhood grocery stores and a membership warehouse chain, Sam’s Club. The company’s merchandising mix covers groceries, household goods, apparel, electronics and pharmacy services, supplemented by private-label products and category-specific offerings. Walmart pairs its physical store network with online platforms and mobile applications to provide omnichannel shopping, fulfillment and delivery options for consumers and businesses.

The company was founded by Sam Walton, who opened the first store in Rogers, Arkansas in 1962; it is headquartered in Bentonville, Arkansas.

Further Reading Five stocks we like better than Walmart 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 WMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Walmart Inc. (NASDAQ:WMT – Free Report).

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Freemont Management S.A. raised its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 350.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,500 shares of the financial services provider’s stock after acquiring an additional 10,500 shares during the period. Freemont Management S.A.’s holdings in JPMorgan Chase & Co. were worth $3,971,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Fidelis Capital Partners LLC increased its stake in JPMorgan Chase & Co. by 7.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider’s stock valued at $22,580,000 after acquiring an additional 5,101 shares during the last quarter. Howard Capital Management Inc. lifted its stake in JPMorgan Chase & Co. by 18.2% during the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock worth $8,308,000 after purchasing an additional 3,976 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 51.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock worth $2,862,000 after purchasing an additional 3,027 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Finally, KTF Investments LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $6,449,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance Shares of JPMorgan Chase & Co. stock opened at $348.72 on Thursday. The company’s fifty day simple moving average is $321.65 and its two-hundred day simple moving average is $310.67. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $351.24. The firm has a market cap of $934.39 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.52 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.59 by $0.55. The firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 23.59 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.71%.

Key Headlines Impacting JPMorgan Chase & Co. Here are the key news stories impacting JPMorgan Chase & Co. this week:

Positive Sentiment: JPMorgan posted record Q2 2026 results, with record revenue across all business lines and net income of $16.9 billion, underscoring strong underlying business momentum. JPMorgan Chase (JPM) Q2 2026 Earnings Call Transcript Positive Sentiment: Analysts and media outlets highlighted JPM as one of the top big-bank picks after strong earnings and an improving outlook, which supports the stock’s valuation narrative. Buy 3 Top-Ranked Big Investment Banks Amid Solid Q2 Earnings & Outlook Positive Sentiment: JPMorgan stock was noted as being on track for its longest weekly winning streak since early 2024 after the earnings beat, showing momentum traders are still piling in. QUICK SPARK: JPMorgan Stock Eyes Longest Weekly Winning Streak Since Early 2024 Positive Sentiment: Coverage around JPMorgan’s AI adoption suggested automation is already reducing costs in some units, which could help protect margins even if revenue growth moderates. Jamie Dimon Says AI Has Already Cut 30% to 40% of Jobs in Some JPMorgan Units Positive Sentiment: Reports that JPMorgan may help finance Japan’s $550 billion U.S. investment plan and other large global deals point to additional fee opportunities. JPMorgan, other US banks set to help finance Japan’s $550 billion US investment plan, sources say Neutral Sentiment: Jamie Dimon repeated warnings about macro risks, bond market stress, and geopolitical uncertainty. These comments do not directly change JPM’s fundamentals, but they can temper enthusiasm for bank stocks if investors become more cautious. ‘Worse than people expect’: Jamie Dimon sounds alarm about the next credit crisis Neutral Sentiment: Several articles focused on Dimon’s broader market commentary, including his view that stocks and long-term Treasurys look expensive; while notable, this is more about market caution than JPM’s own operating results. JPMorgan CEO Urges Investor Patience Wall Street Analysts Forecast Growth A number of brokerages recently weighed in on JPM. HSBC raised their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a report on Monday, May 4th. UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Autonomous Res reduced their target price on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $358.67.

View Our Latest Analysis on JPMorgan Chase & Co.

Insider Buying and Selling at JPMorgan Chase & Co. In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at approximately $10,036,641.58. This trade represents a 8.52% 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. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer owned 85,082 shares in the company, valued at approximately $26,326,072.44. This represents a 5.47% 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. Insiders sold 18,876 shares of company stock valued at $5,907,051 in the last 90 days. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Profile (Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

Featured Articles Five stocks we like better than JPMorgan Chase & Co. 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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Internal Revenue Service chief Frank Bisignano may have lied to Congress about staffing issues as the tax agency races to hire after making deep personnel cuts at the beginning of the Trump administration, a group of Senate Democrats led by Sen. Elizabeth Warren alleged in a letter sent late Wednesday and shared exclusively with CNBC.

Bisignano, who is also the Social Security Administration commissioner, testified before Congress in March that he "feel[s] good about the number of employees [he] has right now" at the IRS. He also denied that his agency was understaffed before the Senate Finance Committee in April.

Warren, D-Mass., and the other Democrats, however, said in the letter that Bisignano's testimony doesn't align with recent news reports that the IRS is aggressively surging hiring. They also point out that the agency's own inspector general cited staffing shortages as a major concern for the agency, while pointing to an internal memo reported by NOTUS that requested expedited hiring authority due to "ongoing staffing shortages [that] put the 2026 Filing Season at risk."

"New reporting suggests that the IRS understood the need for more agency staff, despite your public assertions to the contrary," the Democrats wrote in the letter sent. "This discrepancy requires an explanation. Under federal law, persons who 'knowingly and willfully … make any materially false, fictitious, or fraudulent statement or representation' to Congress may be subject to penalties.'"

More than a dozen Democrats signed onto the letter, including Senate Finance ranking member Ron Wyden, D-Ore. Sens. Sheldon Whitehouse, D-R.I., Peter Welch, D-Vt., and Raphael Warnock, D-Ga., were also among the letter's signatories.

Knowingly lying to or misleading Congress could be a crime.

The IRS did not immediately respond to a request for comment.

The letter is the latest headache for Bisignano, who was forced to play defense earlier this week after The Wall Street Journal reported he had spied on his former colleagues at JPMorgan Chase. The IRS chief has denied the report, which said he had used his security authority to snoop on his colleagues' communications and access sensitive information.

In his current role, Bisignano sits atop agencies with swaths of confidential information about nearly every American.

It also comes in the wake of last year's massive federal government layoffs led by Elon Musk's Department of Government Efficiency. The IRS alone hemorrhaged more than 31,000 employees as of January 2026, according to a report from the agency's inspector general, a gap that Bisignano has said is being filled by the adoption of new technologies.

The IRS IG said in the June report that staffing had contributed to delays in the agency's work.

"We also know that many departing employees were experienced workers with institutional knowledge and technical expertise that cannot easily be replaced," the IG said in the report. "In our 2026 Filing Season memorandum to the IRS Commissioner, we warned that the IRS faces elevated operational risks for the season due to staffing shortages, delayed hiring, and significant backlogs. For example, key inventories waiting to be processed (such as amended tax returns and taxpayer correspondence) have significantly increased."

Warren and her colleagues demanded that Bisignano clarify whether the reports that the IRS was seeking special hiring authority are accurate and whether he was aware of the internal memo asking for the authority and read it before his testimony to Congress.

They also asked him to clarify his basis for telling Congress that there "was 'no staffing shortage' at the IRS while at the same time seeking hiring authority due to a 'critical hiring need."

Posted by Defense World Staff on Jul 23rd, 2026

Arvest Bank Trust Division decreased its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 20.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 60,784 shares of the company’s stock after selling 15,867 shares during the quarter. Johnson & Johnson makes up 0.8% of Arvest Bank Trust Division’s investment portfolio, making the stock its 29th largest position. Arvest Bank Trust Division’s holdings in Johnson & Johnson were worth $14,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JNJ. Greenberg Financial Group bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $954,000. World Investment Advisors increased its holdings in Johnson & Johnson by 19.6% during the 4th quarter. World Investment Advisors now owns 161,343 shares of the company’s stock worth $33,390,000 after acquiring an additional 26,450 shares during the period. Benchmark Financial LLC bought a new stake in Johnson & Johnson during the fourth quarter valued at $554,000. Robinhood Asset Management LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $11,853,000. Finally, Principal Financial Group Inc. boosted its position in shares of Johnson & Johnson by 0.8% during the 4th quarter. Principal Financial Group Inc. now owns 3,410,177 shares of the company’s stock valued at $705,736,000 after acquiring an additional 28,370 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Insider Activity In related news, EVP Kathryn E. Wengel sold 10,000 shares of Johnson & Johnson stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $241.15, for a total transaction of $2,411,500.00. Following the completion of the transaction, the executive vice president directly owned 114,288 shares of the company’s stock, valued at $27,560,551.20. This trade represents a 8.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets JNJ has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $260.00 target price on shares of Johnson & Johnson in a research note on Wednesday, July 15th. Guggenheim restated a “buy” rating and set a $270.00 price target on shares of Johnson & Johnson in a research report on Friday, July 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $282.00 price target on shares of Johnson & Johnson in a research note on Thursday, July 16th. HSBC set a $290.00 price objective on Johnson & Johnson and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Barclays upped their price objective on shares of Johnson & Johnson from $234.00 to $255.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $265.30.

Check Out Our Latest Stock Report on Johnson & Johnson

Key Headlines Impacting Johnson & Johnson Here are the key news stories impacting Johnson & Johnson this week:

Positive Sentiment: The FDA approved J&J’s OTTAVA robotic surgery system, opening the door for Johnson & Johnson to compete in robotic soft-tissue surgery and potentially expand its medtech growth runway. Reuters article on OTTAVA approval Positive Sentiment: Investors are also encouraged by the prospect of a phased launch of OTTAVA with select customers, suggesting J&J is preparing a commercial rollout after securing clearance. Medical Device Network article on OTTAVA launch plans Positive Sentiment: J&J also continues to look like a defensive income stock, with a newly declared quarterly dividend reinforcing its appeal to dividend-focused investors. Yahoo Finance dividend article Neutral Sentiment: A federal judge cast doubt on roughly 69,000 talc-related cancer claims, but the court did not dismiss the litigation outright, so the legal overhang remains a mixed but potentially improving risk for J&J. Reuters talc litigation article Johnson & Johnson Price Performance JNJ stock opened at $255.71 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 0.77. Johnson & Johnson has a 1 year low of $164.23 and a 1 year high of $269.43. The firm has a 50-day moving average of $241.40 and a 200 day moving average of $235.76. The company has a market cap of $615.56 billion, a P/E ratio of 29.63, a PEG ratio of 2.38 and a beta of 0.24.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.06. The company had revenue of $25.31 billion for the quarter, compared to analysts’ expectations of $25.06 billion. Johnson & Johnson had a return on equity of 32.86% and a net margin of 21.48%.The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.77 earnings per share. Johnson & Johnson has set its FY 2026 guidance at 11.600-11.750 EPS. On average, sell-side analysts forecast that Johnson & Johnson will post 11.68 EPS for the current year.

Johnson & Johnson Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 25th will be given a $1.34 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 2.1%. Johnson & Johnson’s dividend payout ratio is currently 62.11%.

Johnson & Johnson Profile (Free Report)

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.

Further Reading Five stocks we like better than Johnson & Johnson 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 JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ – Free Report).

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Aureus Asset Management LLC decreased its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 48.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,841 shares of the company’s stock after selling 9,325 shares during the period. Aureus Asset Management LLC’s holdings in Johnson & Johnson were worth $2,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Johnson & Johnson by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 240,349,660 shares of the company’s stock valued at $49,740,362,000 after buying an additional 3,731,074 shares during the period. State Street Corp grew its holdings in shares of Johnson & Johnson by 1.3% in the fourth quarter. State Street Corp now owns 133,869,843 shares of the company’s stock worth $27,704,364,000 after acquiring an additional 1,663,782 shares during the period. Auto Owners Insurance Co grew its holdings in shares of Johnson & Johnson by 22,225.6% in the fourth quarter. Auto Owners Insurance Co now owns 69,419,308 shares of the company’s stock worth $1,436,633,000 after acquiring an additional 69,108,368 shares during the period. Geode Capital Management LLC increased its position in Johnson & Johnson by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 57,953,747 shares of the company’s stock valued at $11,967,947,000 after acquiring an additional 1,738,292 shares during the last quarter. Finally, Norges Bank bought a new position in Johnson & Johnson in the fourth quarter valued at about $6,924,523,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling In related news, EVP Kathryn E. Wengel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $241.15, for a total value of $2,411,500.00. Following the transaction, the executive vice president directly owned 114,288 shares of the company’s stock, valued at approximately $27,560,551.20. The trade was a 8.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

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

Positive Sentiment: The FDA approved J&J’s OTTAVA robotic surgery system, opening the door for Johnson & Johnson to compete in robotic soft-tissue surgery and potentially expand its medtech growth runway. Reuters article on OTTAVA approval Positive Sentiment: Investors are also encouraged by the prospect of a phased launch of OTTAVA with select customers, suggesting J&J is preparing a commercial rollout after securing clearance. Medical Device Network article on OTTAVA launch plans Positive Sentiment: J&J also continues to look like a defensive income stock, with a newly declared quarterly dividend reinforcing its appeal to dividend-focused investors. Yahoo Finance dividend article Neutral Sentiment: A federal judge cast doubt on roughly 69,000 talc-related cancer claims, but the court did not dismiss the litigation outright, so the legal overhang remains a mixed but potentially improving risk for J&J. Reuters talc litigation article Johnson & Johnson Trading Up 2.0% Shares of Johnson & Johnson stock opened at $255.71 on Thursday. Johnson & Johnson has a fifty-two week low of $164.23 and a fifty-two week high of $269.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.03. The company has a market capitalization of $615.56 billion, a P/E ratio of 29.63, a P/E/G ratio of 2.38 and a beta of 0.24. The company has a fifty day moving average of $241.40 and a 200 day moving average of $235.76.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.06. Johnson & Johnson had a return on equity of 32.86% and a net margin of 21.48%.The business had revenue of $25.31 billion for the quarter, compared to analysts’ expectations of $25.06 billion. During the same period last year, the firm earned $2.77 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. Johnson & Johnson has set its FY 2026 guidance at 11.600-11.750 EPS. On average, sell-side analysts anticipate that Johnson & Johnson will post 11.68 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 25th will be paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 25th. Johnson & Johnson’s dividend payout ratio (DPR) is 62.11%.

Analyst Ratings Changes A number of research firms have issued reports on JNJ. HSBC set a $290.00 price target on Johnson & Johnson and gave the company a “buy” rating in a research note on Monday, July 6th. Guggenheim reiterated a “buy” rating and issued a $270.00 price objective on shares of Johnson & Johnson in a research note on Friday, July 17th. Citigroup raised their price objective on shares of Johnson & Johnson from $285.00 to $298.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings lowered shares of Johnson & Johnson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 15th. Finally, Leerink Partners upgraded shares of Johnson & Johnson from a “market perform” rating to an “outperform” rating and set a $265.00 price target on the stock in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.30.

Get Our Latest Stock Analysis on Johnson & Johnson

About Johnson & Johnson (Free Report)

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.

See Also Five stocks we like better than Johnson & Johnson 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 JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ – Free Report).

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Geely Auto will build two electric SUVs at Ford's factory in Spain and the two firms will jointly develop a new model, they said on Thursday, as rising Chinese automakers race to use traditional carmakers' underutilized factories and get ahead of European local-content rules.

China automaker Geely will build electric vehicles at a Ford Motor plant in Spain under a new manufacturing joint venture in Europe, the companies announced Thursday.

Pending regulatory approvals, the companies said the joint venture will begin operations in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028. The Valencia, Spain, plant will continue to produce the Ford Kuga in the meantime, according to a news release.

The companies said Ford will own 66% of the joint venture, while Geely will have a 34% stake.

The announcement comes after months of reported talks between the two sides, as legacy automakers such as Ford attempt to compete with Chinese carmakers that have quickly been expanding into new markets outside of China for several years.

It also comes a day after a U.S. Senate committee approved legislation to toughen a ⁠ban on Chinese automakers entering the U.S.

Ford's partnership with Geely stretches back to 2010, when it sold Volvo Cars to Geely, the companies said.

Ford CEO Jim Farley, who has complemented Chinese automakers for their speed and products, has previously said the automaker would be looking to partnerships to assist its global operations.

Posted by Defense World Staff on Jul 23rd, 2026

Assetmark Inc. decreased its stake in shares of General Motors Company (NYSE:GM – Free Report) (TSE:GMM.U) by 66.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,268 shares of the auto manufacturer’s stock after selling 87,530 shares during the quarter. Assetmark Inc.’s holdings in General Motors were worth $3,223,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. PeakShares LLC grew its holdings in General Motors by 10.2% during the 1st quarter. PeakShares LLC now owns 3,376 shares of the auto manufacturer’s stock valued at $252,000 after buying an additional 312 shares in the last quarter. Angeles Wealth Management LLC grew its holdings in shares of General Motors by 17.3% in the first quarter. Angeles Wealth Management LLC now owns 4,431 shares of the auto manufacturer’s stock valued at $330,000 after purchasing an additional 654 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. grew its holdings in shares of General Motors by 54.2% in the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 24,386 shares of the auto manufacturer’s stock valued at $1,817,000 after purchasing an additional 8,570 shares in the last quarter. Bessemer Group Inc. increased its position in General Motors by 28.5% in the first quarter. Bessemer Group Inc. now owns 19,487 shares of the auto manufacturer’s stock worth $1,451,000 after purchasing an additional 4,319 shares during the last quarter. Finally, Independent Financial Group LLC purchased a new stake in General Motors during the first quarter valued at $219,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Motors In other news, CEO Mary T. Barra sold 215,391 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $80.01, for a total transaction of $17,233,433.91. Following the transaction, the chief executive officer owned 770,491 shares of the company’s stock, valued at approximately $61,646,984.91. This represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a 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, CAO Christopher Hatto sold 6,895 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $85.00, for a total value of $586,075.00. Following the completion of the sale, the chief accounting officer owned 25,794 shares in the company, valued at approximately $2,192,490. The trade was a 21.09% 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. Insiders sold 697,388 shares of company stock worth $57,752,596 over the last 90 days. Company insiders own 0.54% of the company’s stock.

General Motors News Summary Here are the key news stories impacting General Motors this week:

Positive Sentiment: GM posted Q2 EPS of $3.57 and revenue of $48.03 billion, both above Wall Street estimates, while adjusted EBIT jumped nearly 30% on strong truck and SUV demand. Positive Sentiment: The company raised its full-year 2026 outlook again, now guiding for adjusted EPS of $12 to $14 and higher EBIT, reinforcing confidence in earnings momentum. Positive Sentiment: Analysts turned more constructive after earnings, with JPMorgan lifting its price target on GM to $120 and keeping an overweight rating, adding fuel to the stock’s rally. Positive Sentiment: Coverage highlighted GM’s strong cash flow and ongoing share repurchases, with the company having spent more than $4 billion on buybacks over the past year, which can support per-share earnings. Neutral Sentiment: GM also announced new gas-powered Cadillac models and a push into defense-related opportunities, suggesting management is broadening growth avenues beyond EVs. Article: At GM, Trump’s Second Term Means Big Trucks—and a Push Into the Defense Industry Neutral Sentiment: The company is still absorbing EV-related restructuring costs and faces tariff, labor, and broader auto-industry risks, which could limit upside if demand softens or costs rise. Negative Sentiment: GM Korea labor unions are continuing partial strikes, adding a potential operational headwind. Article: GM Korea’s unionised workers continue partial strikes Analyst Upgrades and Downgrades Several equities analysts have commented on GM shares. Royal Bank Of Canada lifted their price objective on shares of General Motors from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $96.00 target price on the stock in a research report on Wednesday, March 25th. Benchmark reaffirmed a “buy” rating on shares of General Motors in a report on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $102.00 price target on shares of General Motors in a research report on Wednesday, April 29th. Finally, Morgan Stanley boosted their price objective on General Motors from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.59.

Get Our Latest Stock Analysis on General Motors

General Motors Trading Up 3.4% GM stock opened at $82.23 on Thursday. General Motors Company has a twelve month low of $49.87 and a twelve month high of $87.62. The stock has a market capitalization of $74.15 billion, a price-to-earnings ratio of 41.53, a price-to-earnings-growth ratio of 0.40 and a beta of 1.31. The company has a quick ratio of 0.99, a current ratio of 1.14 and a debt-to-equity ratio of 1.42. The firm’s fifty day simple moving average is $79.03 and its two-hundred day simple moving average is $78.83.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last released its earnings results on Tuesday, July 21st. The auto manufacturer reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.38. General Motors had a net margin of 1.05% and a return on equity of 18.18%. The firm had revenue of $48.03 billion during the quarter, compared to analyst estimates of $47.01 billion. During the same quarter last year, the business earned $2.53 EPS. The business’s revenue was up 1.9% on a year-over-year basis. General Motors has set its FY 2026 guidance at 12.000-14.000 EPS. As a group, analysts anticipate that General Motors Company will post 12.88 earnings per share for the current year.

General Motors Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Friday, September 4th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.72 annualized dividend and a yield of 0.9%. General Motors’s dividend payout ratio (DPR) is presently 29.03%.

About General Motors (Free Report)

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.

See Also Five stocks we like better than General Motors 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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Starbucks (SBUX -0.32%) is energizing investors' portfolios. Shares have climbed 24% so far in 2026, as of July 21. Should this positive trend hold up throughout the rest of the year, the business will put together its first gain since 2021. That's welcome news for investors who have gotten used to ongoing declines.

It's also noteworthy that this coffee stock is on track to beat the Nasdaq-100 index for the first time since 2022. Outperforming a well-known technology benchmark would certainly be a winning outcome.

Does Starbucks have more room to run?

Image source: The Motley Fool.

Traffic trends are encouraging It wasn't that long ago when Starbucks was really struggling. Customers grew displeased with a worsening store experience, complex menus, and ongoing price increases, which all contributed to weaker traffic. The intensely competitive nature of the retail coffee market didn't make things easier.

The company reported declining year-over-year same-store sales in both fiscal 2024 and fiscal 2025. Since this metric is critical for any retailer or restaurant, as it indicates the productivity of each location, it's no wonder the stock was under pressure.

The situation has improved. Traffic trends have been encouraging. In April, Starbucks reported its financial results for Q2 2026, ended March 29. And the management team revealed that global comparable transactions were up for a second straight quarter.

"Our US company-operated business grew transactions across all day parts," CEO Brian Niccol said on the Q2 2026 earnings call.

Starbucks is working to right the ship. The company's key priorities have been to re-establish cafes as a welcoming "Third Place," while boosting store operations with better staffing and equipment. Starbucks also innovated with new menu offerings to capture more sales during the afternoon.

The Starbucks rewards program has been updated, too. It now features membership tiers based on different spending levels, aiding in personalization and providing more benefits to the most loyal customers. This setup supports engagement and frequency. There are now a record 35.6 million members in the United States.

Starbucks set out to reduce its annual expenses by $2 billion, and there appears to be progress in this regard. The business raised its full-year profit guidance, now forecasting adjusted earnings per share of $2.25 to $2.45. At the midpoint, that implies a 10% year-over-year jump.

The turnaround isn't over, though. Getting back to healthy growth is the main goal. At Starbucks' investor day meeting in January this year, management laid out a target to achieve a 5% year-over-year revenue gain by fiscal 2028. The top line is expected to be flat in fiscal 2026, so there is still work to do.

Today's Change

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-0.32

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Current Price

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104.12

Should you buy the coffee chain's shares today? Starbucks is a high-quality business. It has a wide economic moat that's supported by an incredible brand and tremendous scale. These two traits, which have driven success in the past, give Starbucks a durable advantage in the crowded industry.

Another bullish argument focuses on the company's profit outlook. Starbucks' adjusted EPS will grow at a compound annual rate of 19.8% between fiscal 2025 and fiscal 2028, according to consensus analyst estimates. That's an encouraging outlook.

But investors should remember that this bottom-line forecast isn't on solid ground. Starbucks is still in the middle of a turnaround that can present new challenges. Plus, the macroeconomic environment could weaken, pressuring demand for the premium food and beverage that Starbucks offers.

In addition, the valuation is expensive. The consumer discretionary stock trades at a forward price-to-earnings ratio of 35.6. There is no margin of safety, adding greater downside risk to the equation. So this isn't a stock I'm thinking of buying.

Income investors, however, will have a different perspective. Starbucks' current dividend yield of 2.37% is more than double what the S&P 500 index offers. That payout has increased by 210% in the past decade. And Starbucks has paid a dividend for an impressive 66 straight quarters. T

B&D White Capital Company LLC bought a new position in Qualcomm Incorporated (NASDAQ:QCOM – Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,800 shares of the wireless technology company’s stock, valued at approximately $1,520,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Qualcomm by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company’s stock worth $19,524,350,000 after buying an additional 647,076 shares during the period. Geode Capital Management LLC boosted its stake in shares of Qualcomm by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company’s stock worth $4,931,968,000 after buying an additional 3,221,924 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Qualcomm by 34.5% during the 4th quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company’s stock valued at $2,861,301,000 after purchasing an additional 4,290,622 shares in the last quarter. Norges Bank purchased a new position in Qualcomm in the fourth quarter valued at $2,591,056,000. Finally, Amundi raised its holdings in Qualcomm by 9.9% in the 3rd quarter. Amundi now owns 12,671,635 shares of the wireless technology company’s stock worth $2,136,486,000 after purchasing an additional 1,138,541 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In Several analysts have recently issued reports on QCOM shares. Argus set a $220.00 target price on shares of Qualcomm in a research report on Friday, May 1st. Dbs Bank raised shares of Qualcomm to a “moderate buy” rating in a research note on Tuesday, July 7th. Roth Capital began coverage on Qualcomm in a report on Friday, May 8th. They issued a “buy” rating on the stock. Evercore set a $179.00 target price on Qualcomm in a report on Thursday, April 30th. Finally, Melius Research set a $220.00 target price on Qualcomm in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twenty-one have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Qualcomm has a consensus rating of “Hold” and an average price target of $219.76.

Read Our Latest Research Report on QCOM

Qualcomm Stock Up 1.2% Shares of QCOM opened at $175.63 on Thursday. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $204.79 and a two-hundred day simple moving average of $168.41. The company has a market capitalization of $185.11 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 5.16 and a beta of 1.63.

Qualcomm (NASDAQ:QCOM – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.09. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The firm had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.59 billion. During the same quarter in the previous year, the company posted $2.85 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, equities analysts forecast that Qualcomm Incorporated will post 7.97 EPS for the current year.

Qualcomm Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.1%. Qualcomm’s dividend payout ratio is 40.00%.

Insider Activity In related news, CEO Cristiano R. Amon sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $180.00, for a total value of $1,800,000.00. Following the transaction, the chief executive officer directly owned 197,568 shares in the company, valued at approximately $35,562,240. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $177.82, for a total value of $569,024.00. Following the completion of the transaction, the executive vice president owned 39,735 shares of the company’s stock, valued at $7,065,677.70. The trade was a 7.45% 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. Insiders have sold 21,721 shares of company stock worth $4,044,465 over the last quarter. 0.05% of the stock is currently owned by corporate insiders.

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

Positive Sentiment: Qualcomm announced a partnership with Samsung to help power the upcoming Galaxy smartphone lineup, a win for its mobile chip franchise and a potential support for future handset revenue. Qualcomm partners with Samsung to power upcoming Galaxy lineup Neutral Sentiment: Shares have been trying to rebound after a large year-to-date decline, and some coverage says the stock remains attractive on earnings-based valuation metrics even though cash-flow models show it is closer to fair value. QUALCOMM (QCOM) Stock Looks Below Fair Value On Earnings Yet Near Fair Value On Cash Flow Neutral Sentiment: Recent trading showed Qualcomm outperforming the broad market on a daily basis, though one report noted it lagged some semiconductor peers, suggesting the move may be more of a technical rebound than a broad sector breakout. Qualcomm Inc. stock underperforms Tuesday when compared to competitors despite daily gains Negative Sentiment: Analysts are heading into the July 29 earnings report expecting a decline in earnings, which keeps pressure on the stock and raises the risk of disappointment if results or guidance miss expectations. Analysts Estimate Qualcomm (QCOM) to Report a Decline in Earnings: What to Look Out for Negative Sentiment: One report highlighted that Qualcomm has fallen more than 30% since May, with investors waiting for earnings to determine whether the recent slide is a buying opportunity or a sign that the market remains worried about growth. Qualcomm Stock Slides 30%: Buying Opportunity Ahead of July 29 Earnings About Qualcomm (Free Report)

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.

Read More Five stocks we like better than Qualcomm 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 QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Incorporated (NASDAQ:QCOM – Free Report).

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Intel (INTC) and AMD (AMD) are reportedly locking in longer-term deals with Chinese data-center customers as server CPU shortages push prices sharply higher.Mos

Posted by Defense World Staff on Jul 23rd, 2026

ABN Amro Investment Solutions lifted its holdings in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 11.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 313,794 shares of the biopharmaceutical company’s stock after purchasing an additional 33,262 shares during the quarter. ABN Amro Investment Solutions’ holdings in Pfizer were worth $8,811,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Evolution Wealth Management Inc. grew its position in Pfizer by 132.2% during the first quarter. Evolution Wealth Management Inc. now owns 994 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 566 shares during the period. Horizon Financial Services LLC increased its position in Pfizer by 174.8% during the 4th quarter. Horizon Financial Services LLC now owns 1,014 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 645 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new position in Pfizer in the fourth quarter valued at approximately $26,000. YANKCOM Partnership purchased a new position in Pfizer in the fourth quarter valued at approximately $28,000. Finally, HFM Investment Advisors LLC grew its stake in Pfizer by 61.0% during the fourth quarter. HFM Investment Advisors LLC now owns 1,127 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 427 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer News Summary Here are the key news stories impacting Pfizer this week:

Positive Sentiment: Pfizer’s TALZENNA plus XTANDI combination received FDA Priority Review for men with HRR gene-altered metastatic castration-sensitive prostate cancer, which could expand the drug pair’s approved use and support oncology revenue growth if approved. Article Title Positive Sentiment: Some commentary highlights Pfizer as an undervalued healthcare name, suggesting investors may be overlooking its earnings power and pipeline optionality. Article Title Neutral Sentiment: Analysts are also watching Pfizer’s non-oncology portfolio this earnings season, with expected strength in Eliquis and Vyndaqel offset by continued weakness in COVID-related products. Article Title Negative Sentiment: Pfizer is facing expanded patent litigation tied to mRNA lipid nanoparticle technology, adding legal uncertainty around its COVID-19 vaccine business and creating a potential overhang on sentiment. Article Title Negative Sentiment: Broader U.S. drug-policy headlines, including proposed tariffs on generic medicines, may keep pressure on the pharmaceutical sector even though the direct impact on Pfizer is less clear than for generic-focused peers. Article Title Wall Street Analyst Weigh In A number of equities analysts have recently commented on PFE shares. Citigroup raised their target price on shares of Pfizer from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Morgan Stanley raised their price objective on Pfizer from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Bank of America decreased their target price on Pfizer from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. lowered their target price on Pfizer from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada upgraded Pfizer from an “underperform” rating to a “sector perform” rating and set a $25.00 price target for the company in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.50.

Check Out Our Latest Report on Pfizer

Pfizer Stock Performance NYSE:PFE opened at $24.84 on Thursday. The firm has a 50-day moving average of $25.14 and a two-hundred day moving average of $26.18. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.25 and a quick ratio of 0.94. The stock has a market cap of $141.60 billion, a P/E ratio of 18.97 and a beta of 0.35. Pfizer Inc. has a 1-year low of $23.11 and a 1-year high of $28.75.

Pfizer (NYSE:PFE – Get Free Report) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $14.45 billion for the quarter, compared to analyst estimates of $13.84 billion. Pfizer had a return on equity of 19.44% and a net margin of 11.83%.The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. On average, research analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 24th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, July 24th. Pfizer’s dividend payout ratio is 131.30%.

Pfizer Company Profile (Free Report)

Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.

Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.

Featured Stories Five stocks we like better than Pfizer 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 PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE – Free Report).

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HRL's expertise in silicon-spin qubits and quantum sensing will strengthen and extend IBM's world-leading quantum computing mission

, /PRNewswire/ -- IBM (NYSE: IBM) today announced it has signed a definitive agreement to acquire HRL Laboratories, LLC (HRL), a flagship research and development institution. HRL is a private company jointly owned by Boeing and General Motors. Both Boeing and GM will continue to partner with IBM on quantum applications and advanced technology development following the transaction.

HRL's advanced expertise in silicon-spin qubit engineering will complement and extend IBM's long-term mission to scale increasingly powerful quantum computers and accelerate its quantum vision.  Superconducting qubits and spin qubits both leverage state-of-the art silicon fabrication. This shared foundation is amongst the reasons why these two modalities offer credible paths to scaling quantum technologies.

"The HRL team will help IBM push even farther forward toward the frontiers of quantum innovation," said Jay Gambetta, IBM's Director of Research and IBM Fellow. "This talented group of researchers brings a broad portfolio of technologies that will strengthen IBM's long-term plans to deliver useful quantum computing to the world, bringing together advances across quantum computing, quantum sensing, and quantum networking to enable the applications of the future." 

"Joining IBM is the natural next chapter for what we have built at HRL, where our team has dedicated years to exploring paths to how future quantum computers could be built at scales that today seem impossible," said Rob Vasquez, President and Chief Executive Officer at HRL "We now look forward to leveraging IBM's industry leadership and working alongside their world-class talent on fundamental infrastructure to take this vision forward. Additionally, our cutting-edge physical and information science innovations will combine with their advanced research capabilities to deliver an unmatched suite of technology solutions for our commercial and government customers."

HRL will also enable IBM to innovate in and industrialize promising technologies such as quantum sensing and drive new research into quantum materials. This includes ultra precise quantum sensors capable of detecting subtle physical phenomena and capturing finely tuned measurements for life sciences, navigation, defense, and scientific applications. Combined with additional capabilities in cryogenics, control electronics, qubit interconnects, and packaging, IBM anticipates that HRL's technical breakthroughs will help fuel its quantum program for decades to come.

Additionally, HRL has developed innovations in novel quantum materials that have the potential to unlock better semiconductors and more sensitive sensors – all of which can optimize the performance and scalability of a wide range of quantum technologies.

Beyond its leadership in quantum computing, HRL brings deep expertise in advanced sensors, high-speed and high-power communications, electronics, advanced manufacturing, and materials science, developed through decades of research and development for both commercial and U.S. government customers. HRL's broad technology portfolio will complement IBM's innovation leadership and help accelerate the development of next-generation computing, communications, and mission-critical systems.

Advancing Quantum Computers for Generations to Come

IBM continues to define the direction for the industry with superconducting qubit-based architectures, including breakthroughs in error correction and new algorithms enabling quantum computers to run harder problems more efficiently. IBM's roadmap to deliver the world's first large-scale, fault-tolerant quantum computers is clear and on course. This includes delivering IBM Quantum Starling by 2029, which will be 20,000 times more powerful than today's quantum computers and capable of running 100 million quantum operations. In the mid-2030s, Starling will be followed by the even more powerful Blue Jay quantum computer, projected to be capable of 1 billion quantum operations.

As IBM looks to further extend quantum computing, HRL will bring robust knowledge of silicon‑based spin qubit platforms and surrounding infrastructure that could offer new insights into how to best scale quantum computers into the next decade.

In May 2026, IBM further expanded its global quantum leadership when the company announced it would establish Anderon, the world's first pure-play quantum wafer foundry. As a standalone IBM company, Anderon is being created with the support of the U.S. Department of Commerce to enable scalable, consistent, and agile manufacturing for a broad range of quantum computing modalities and companies. The acquisition of HRL offers an opportunity to partner even more closely with Anderon, including potential plans to develop spin qubit manufacturing to scale quantum manufacturing and enable faster learning cycles.

Financial details of the transaction were not disclosed, and IBM's acquisition of HRL is subject to customary closing conditions and regulatory approvals. The transaction is anticipated to close by the end of the third quarter of 2026.

Media Contact:
Erin Angelini
IBM
[email protected] 

SOURCE IBM

Posted by Defense World Staff on Jul 23rd, 2026

American Investment Services Inc. purchased a new stake in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,802 shares of the healthcare conglomerate’s stock, valued at approximately $1,029,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sarver Vrooman Wealth Advisors purchased a new stake in shares of UnitedHealth Group in the 4th quarter valued at approximately $25,000. Beacon Financial Strategies CORP acquired a new stake in shares of UnitedHealth Group in the fourth quarter worth $26,000. Anfield Capital Management LLC raised its position in UnitedHealth Group by 220.0% during the fourth quarter. Anfield Capital Management LLC now owns 80 shares of the healthcare conglomerate’s stock valued at $26,000 after buying an additional 55 shares during the period. Joseph Group Capital Management purchased a new stake in UnitedHealth Group in the 4th quarter worth about $27,000. Finally, Nalls Sherbakoff Group LLC purchased a new position in UnitedHealth Group during the 4th quarter valued at about $27,000. 87.86% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting UnitedHealth Group Here are the key news stories impacting UnitedHealth Group this week:

Positive Sentiment: Analysts and market-watchers highlighted improving earnings estimates for UnitedHealth, with Zacks upgrading UNH to a Strong Buy and noting that rising consensus forecasts could support more upside. Will UnitedHealth (UNH) Gain on Rising Earnings Estimates? Positive Sentiment: JPMorgan raised its price target on UNH to $516 and kept an overweight rating, signaling continued confidence in the company’s turnaround and earnings power. UnitedHealth Group had its price target raised by JPMorgan Chase & Co. Positive Sentiment: Recent commentary also pointed to strong quarterly results, raised guidance, and a $5 billion buyback authorization as catalysts that could support further gains in UNH. A $5 Billion Reason to Buy UnitedHealth Stock Here Positive Sentiment: UNH was also featured as a dividend and defensive healthcare name, reinforcing investor demand for stable cash flow and lower-volatility exposure. UnitedHealth Stock: Is It Headed for $500? Neutral Sentiment: CNBC’s “Final Trades” mention added visibility to UNH, but the item did not include a specific new thesis or company-specific development. Nvidia, Goldman Sachs, UnitedHealth and an Energy Stock on CNBC’s ‘Final Trades’ Negative Sentiment: Some analysts cautioned that UNH’s rebound may not be linear and could face near-term consolidation, suggesting investors may see pauses or pullbacks even within a broader recovery. UnitedHealth: Recovery Unlikely To Be Linear – Near-Term Consolidation Risks Negative Sentiment: Broader healthcare commentary also noted skepticism around the sector’s AI story, which may weigh on sentiment for some healthcare names if investors view the narrative as overstated. Fishbone Advisors Survey: Institutional Investors See Healthcare’s AI Story as Overblown UnitedHealth Group Stock Down 1.1% UnitedHealth Group stock opened at $431.68 on Thursday. The company has a market capitalization of $392.02 billion, a P/E ratio of 27.78, a P/E/G ratio of 1.52 and a beta of 0.62. UnitedHealth Group Incorporated has a 1-year low of $234.60 and a 1-year high of $461.62. The firm’s fifty day simple moving average is $406.97 and its 200-day simple moving average is $344.46. The company has a current ratio of 0.78, a quick ratio of 0.80 and a debt-to-equity ratio of 0.66.

UnitedHealth Group (NYSE:UNH – Get Free Report) last posted its earnings results on Thursday, July 16th. The healthcare conglomerate reported $6.38 EPS for the quarter, topping the consensus estimate of $4.94 by $1.44. The firm had revenue of $112.03 billion for the quarter, compared to the consensus estimate of $110.81 billion. UnitedHealth Group had a net margin of 3.14% and a return on equity of 16.53%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $4.08 earnings per share. UnitedHealth Group has set its FY 2026 guidance at 19.500-20.000 EPS. Sell-side analysts forecast that UnitedHealth Group Incorporated will post 19.65 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th were given a dividend of $2.32 per share. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from UnitedHealth Group’s previous quarterly dividend of $2.21. This represents a $9.28 dividend on an annualized basis and a yield of 2.1%. UnitedHealth Group’s dividend payout ratio (DPR) is currently 59.72%.

Analyst Upgrades and Downgrades UNH has been the subject of several research reports. Oppenheimer raised their price target on shares of UnitedHealth Group from $420.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Mizuho increased their target price on shares of UnitedHealth Group from $470.00 to $493.00 and gave the stock an “outperform” rating in a research report on Monday. HC Wainwright set a $492.00 price target on shares of UnitedHealth Group in a report on Wednesday, May 27th. Barclays increased their price objective on UnitedHealth Group from $429.00 to $441.00 and gave the stock an “overweight” rating in a report on Monday. Finally, DA Davidson set a $512.00 target price on UnitedHealth Group in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $455.92.

Get Our Latest Research Report on UNH

About UnitedHealth Group (Free Report)

UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.

UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.

See Also Five stocks we like better than UnitedHealth Group 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 UNH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UnitedHealth Group Incorporated (NYSE:UNH – Free Report).

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Electronic Arts and PIF (Public Investment Fund) logos are seen in this illustration taken September 30, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

CompaniesBRUSSELS, July 23 (Reuters) - A group of investors including Saudi Arabia's Public Investment Fund ​has secured EU antitrust approval for ‌its $55 billion acquisition of video game developer Electronic Arts (EA.O), opens new tab, the European Commission said on Thursday.

Saudi ​Arabia's $1 trillion wealth fund, Jared ​Kushner's Affinity Partners and private equity ⁠firm Silver Lake announced the deal, ​the largest leveraged buyout in history, in ​September last year.

Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.

The Commission, which acts as the EU competition enforcer and had examined the ​deal under its merger rules, said ​the acquisition would not raise competition concerns, confirming a Reuters ‌story.

The ⁠EU executive is also scrutinising the deal under its Foreign Subsidies Regulation (FSR) aimed at preventing unfair non-EU subsidies granted ​to companies ​looking ⁠to acquire rivals in the 27-country bloc and is seen ​as a bigger hurdle.

PIF is ​also expected ⁠to win EU clearance under EU subsidy rules, people familiar with the matter ⁠told ​Reuters last week. The ​Commission's decision is due by July 30.

Reporting by Foo ​Yun Chee; Editing by K irsten Donovan

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

Posted by Defense World Staff on Jul 23rd, 2026

AR Asset Management Inc. raised its position in Chevron Corporation (NYSE:CVX – Free Report) by 5.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 119,618 shares of the oil and gas company’s stock after purchasing an additional 6,254 shares during the period. Chevron accounts for approximately 4.8% of AR Asset Management Inc.’s portfolio, making the stock its 2nd biggest holding. AR Asset Management Inc.’s holdings in Chevron were worth $24,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cornerstone Advisory LLC boosted its stake in Chevron by 0.9% during the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after buying an additional 52 shares during the last quarter. Compton Financial Group LLC grew its holdings in Chevron by 1.9% in the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock valued at $609,000 after buying an additional 56 shares in the last quarter. Quantum Portfolio Management LLC increased its stake in shares of Chevron by 2.7% in the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock worth $435,000 after acquiring an additional 56 shares during the last quarter. D.B. Root & Company LLC increased its stake in shares of Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after acquiring an additional 57 shares during the last quarter. Finally, Chatterton & Associates Inc. raised its holdings in shares of Chevron by 1.7% during the 1st quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company’s stock worth $652,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 1.0% Shares of Chevron stock opened at $193.04 on Thursday. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The company has a 50 day moving average of $181.88 and a 200 day moving average of $183.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $384.45 billion, a P/E ratio of 33.46, a P/E/G ratio of 0.67 and a beta of 0.50.

Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 EPS. As a group, research analysts forecast that Chevron Corporation will post 14.78 EPS for the current fiscal year.

Chevron Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is 123.40%.

Insider Transactions at Chevron In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by company insiders.

Key Headlines Impacting Chevron Here are the key news stories impacting Chevron this week:

Positive Sentiment: TD Cowen lifted its price target on Chevron to $200 from $197, signaling continued analyst confidence despite keeping a hold rating. TD Cowen price target update Positive Sentiment: Chevron is being highlighted in dividend-focused articles as a steady income name, which may support demand from long-term investors. Dividend Aristocrats article Positive Sentiment: Rising oil prices amid geopolitical uncertainty are favorable for Chevron’s upstream business and could improve near-term earnings. Oil prices jump article Neutral Sentiment: Chevron shut production at a U.S. Gulf platform ahead of a tropical storm, a precautionary move that could limit output temporarily but is not necessarily a lasting operational issue. Production shutdown article Neutral Sentiment: Investors are awaiting Chevron’s second-quarter earnings, with expectations for a strong profit rebound; the report could become a major stock catalyst. Earnings preview article Analysts Set New Price Targets Several equities research analysts recently issued reports on CVX shares. Sanford C. Bernstein cut their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, July 2nd. Finally, Zacks Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Nineteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $206.62.

Get Our Latest Stock Report on Chevron

Chevron Company Profile (Free Report)

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

Further Reading Five stocks we like better than Chevron 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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Alamar Capital Management LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,000 shares of the industrial products company’s stock, valued at approximately $708,000.

A number of other institutional investors also recently added to or reduced their stakes in CAT. Diamant Asset Management Inc. grew its position in Caterpillar by 68,427.2% during the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock worth $2,224,992,000 after buying an additional 3,136,020 shares during the period. Capital International Investors purchased a new stake in shares of Caterpillar during the 4th quarter worth approximately $1,225,317,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Caterpillar by 573.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock worth $861,947,000 after acquiring an additional 1,281,087 shares during the period. Bank of America Corp DE increased its stake in Caterpillar by 16.0% in the 4th quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock valued at $3,860,457,000 after purchasing an additional 928,974 shares in the last quarter. Finally, Cynosure Group LLC increased its stake in Caterpillar by 8,359.6% in the 4th quarter. Cynosure Group LLC now owns 513,754 shares of the industrial products company’s stock valued at $294,314,000 after purchasing an additional 507,681 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the transaction, the chief financial officer directly owned 52,935 shares in the company, valued at approximately $48,631,913.85. The trade was a 22.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lange Bob De sold 24,222 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the transaction, the insider directly owned 86,029 shares of the company’s stock, valued at approximately $79,397,884.68. This represents a 21.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,773 shares of company stock worth $87,642,635 in the last three months. 0.33% of the stock is currently owned by company insiders.

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

Positive Sentiment: Analysts have been raising their outlook on Caterpillar, with one report saying the stock’s fair value estimate was lifted to $970.37 as investors continue to focus on strong demand in construction, energy, data centers, and infrastructure. Caterpillar Stock Fair Value Edges Higher After Analysts Lift Targets Positive Sentiment: Caterpillar was highlighted in several pieces as a stock with AI exposure and reliable dividend growth, which can attract investors looking for both growth and defensive characteristics. These Stocks Offer AI Exposure and Dividend Payouts Positive Sentiment: The company is also being discussed as a “solid defensive play” thanks to its long dividend-increase streak and stable yield, which may help support the stock during uncertain markets. A Boring Dividend Growth Strategy Becomes a Solid Defensive Play (CAT) Positive Sentiment: Caterpillar also announced it will release second-quarter 2026 results on August 4, keeping attention on upcoming earnings that could provide another catalyst for the shares. Caterpillar Inc. to Announce Second-Quarter 2026 Financial Results on August 4 Neutral Sentiment: A local article noted Caterpillar is renovating a recently purchased Texas property, which appears to be a routine real-estate and facilities update rather than a major stock-moving event. Caterpillar embarks on renovations after purchasing property in Texas Analyst Upgrades and Downgrades A number of analysts have commented on CAT shares. Barclays boosted their target price on Caterpillar from $700.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Oppenheimer lifted their price target on Caterpillar from $980.00 to $1,105.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Argus boosted their price objective on shares of Caterpillar from $820.00 to $990.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Evercore reissued an “outperform” rating and issued a $1,103.00 price objective on shares of Caterpillar in a research note on Monday, May 11th. Finally, Rothschild & Co Redburn lifted their target price on shares of Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Fifteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $980.57.

Read Our Latest Report on CAT

Caterpillar Stock Down 0.0% Shares of NYSE:CAT opened at $889.79 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $409.83 billion, a P/E ratio of 44.29, a P/E/G ratio of 1.74 and a beta of 1.57. Caterpillar Inc. has a 52-week low of $405.46 and a 52-week high of $1,073.46. The stock’s fifty day simple moving average is $929.39 and its 200-day simple moving average is $801.45.

Caterpillar (NYSE:CAT – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. The firm had revenue of $17.41 billion during the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.25 EPS. As a group, equities research analysts forecast that Caterpillar Inc. will post 24.87 earnings per share for the current fiscal year.

Caterpillar Increases Dividend The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.7%. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio (DPR) is 32.45%.

Caterpillar Profile (Free Report)

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

See Also Five stocks we like better than Caterpillar 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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TORONTO, July 23, 2026 /PRNewswire/ -- Mayfair Gold Corp. ("Mayfair", "Mayfair Gold", or the "Company") (TSXV: MFG) (NYSE American: MINE) is pleased to provide a progress update on activities completed during Q2 2026 and ongoing key work streams to advance and de-risk the Company's 100% controlled Fenn-Gib Gold Project ("Fenn-Gib" or the "Project") in Northern Ontario. Key Highlights: Engineering & Design: Advancing front-end engineering design with Ausenco leading plant engineering, and site layout work for the planned 4,800 tonne-per-day process plant Grade Control Drilling: Concluded the grade control drilling program, which confirmed Resource model confidence and identified upside in higher-grade material Environmental Work and Advancing Permitting: Progressing environmental baseline studies and preparing the Ontario-led One Project, One Process environmental approval submission Infrastructure: Advanced powerline planning and engagement with HONI and IESO, while progressing site access options; advanced condemnation drilling review and geotechnical investigations for key infrastructure and plant site locations Exploration: Advancing compilation, mapping and prospecting across the expanded regional land package Capital Markets: Initiated early engagement with potential project financing parties Planned Activities for Q3: Plans to complete process plant FEED and tender detailed engineering, advance the 1P1P submissions and project financing discussions, and further de-risk earthworks, tailings storage facility and water management designs Drew Anwyll, P.Eng.

, /PRNewswire/ -- ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057) ("ZTO" or the "Company"), a leading and fast-growing express delivery company in China, today announced that it will release its unaudited financial results for the second quarter ended June 30, 2026 and its unaudited interim financial results for the half year ended June 30, 2026, after the U.S. market closes on August 18, 2026.

ZTO's management team will host an earnings conference call at 8:30 P.M. U.S. Eastern Time on Tuesday, August 18, 2026, which is 8:30 A.M. Beijing Time on Wednesday, August 19, 2026.

Dial-in details for the earnings conference call are as follows:

United States/Canada:

1-888-317-6003

Hong Kong:

800-963976

Mainland China:

4001-206115

International:

1-412-317-6061

Passcode:

1904847

A replay of the conference call may be accessible through August 24, 2026 by dialing the following numbers:

United States/Canada:

1-855-669-9658

International:

1-412-317-0088

Passcode:

8514365

A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://zto.investorroom.com.

About ZTO Express (Cayman) Inc.

ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057) ("ZTO" or the "Company") is a leading and fast-growing express delivery company in China. ZTO provides express delivery service as well as other value-added logistics services through its extensive and reliable nationwide network coverage in China.

ZTO operates a highly scalable network partner model, which the Company believes is best suited to support the significant growth of e-commerce in China. The Company leverages its network partners to provide pickup and last-mile delivery services, while controlling the mission-critical line-haul transportation and sorting network within the express delivery service value chain.

For more information, please visit http://zto.investorroom.com.

For investor inquiries, please contact:

Investor Relations
Tel: (86) 21 5980 4508
Email: [email protected]

SOURCE ZTO Express (Cayman) Inc.

BELLEVUE, Wash.--(BUSINESS WIRE)--T-Mobile US, Inc. (NASDAQ: TMUS): Continued Strong Account Growth and Deepening Customer Relationships Fueled by Widening Differentiation Postpaid Average Revenue Per Account (“ARPA”) of $152.91 grew 2% year-over-year Postpaid net account additions of 277 thousand decreased 13% year-over-year Translating Strong Account Growth into Durable and Profitable Financial Growth Service revenues of $19.0 billion grew 9% year-over-year, industry-leading growth(1) Postpai.

HomeIndustriesTelecommunicationsEarnings ResultsEarnings ResultsThe wireless carrier has focused on amassing ‘higher quality accounts’ after introducing new plans last yearJuly 23, 2026, 6:39 a.m. ET

T-Mobile reported a profit beat for the second quarter. Photo: Joe Raedle/Getty ImagesT-Mobile just raised its cash-flow guidance for the year after what its CFO called a “rinse-and-repeat” quarter of positive performance.

Second-quarter profit surpassed the consensus view, with T-Mobile TMUS posting $3.2 billion on the bottom line, or $2.99 in earnings per share. That was up 5% from a year before and ahead of FactSet consensus expectations for $2.59 in EPS.

, /PRNewswire/ -- Dow (NYSE: DOW): 

FINANCIAL HIGHLIGHTS

Net sales were $12.1 billion, up 20% year-over-year, reflecting increases in all operating segments and regions. Local price increased 20% versus the year-ago period, led by gains in Packaging & Specialty Plastics, with higher polyethylene prices in all regions. Currency increased 1% year-over-year. Volume decreased 1% year-over-year. Gains in Performance Materials & Coatings across both businesses were more than offset by declines in Packaging & Specialty Plastics largely due to planned maintenance activity.   GAAP net income was $802 million. Op. EBIT1 was $1.6 billion, up $1.7 billion year-over-year, primarily driven by higher prices as well as the Company's self-help initiatives. GAAP earnings per share (EPS) was $0.99; operating EPS1 was $1.44, compared to a loss of $0.42 in the year-ago period. Op. EPS excludes significant items totaling $0.45 per share, driven by costs associated with Transform to Outperform, partially offset by an income tax adjustment associated with a payment from NOVA Chemicals.   Cash provided by operating activities – continuing operations was $1.3 billion, primarily driven by higher earnings across all businesses, more than offsetting an expected working capital build reflecting revenue growth.   Returns to shareholders totaled $253 million of dividends in the quarter. CEO QUOTE

"Team Dow delivered strong second quarter results through disciplined and timely execution, reliably serving our customers, and accelerating our self-help actions," said Karen S. Carter, Dow CEO. "Market conditions were supportive this quarter, and our self-help initiatives delivered ahead of plan, further reinforcing the improvement in our earnings as we continue to strengthen Dow's resilience and agility. We now expect to generate approximately $200 million more in benefits from Transform to Outperform this year, enabling us to increase the total in-year benefits from self-help to greater than $1.3 billion. Our actions to become a leaner, more competitive company position Dow well to continue winning with our customers while delivering enhanced long-term shareholder value."

SUMMARY FINANCIAL RESULTS

Three Months Ended Jun 30

In millions, except per share amounts

2Q26

2Q25

vs. SQLY

[B / (W)]

Net Sales

$12,092

$10,104

$1,988

GAAP Income (Loss) Net of Tax

$802

$(801)

$1,603

Operating EBIT¹

$1,648

$(21)

$1,669

Operating EBITDA¹

$2,312

$703

$1,609

GAAP Earnings (Loss) Per Share

$0.99

$(1.18)

$2.17

Operating Earnings Per Share¹

$1.44

$(0.42)

$1.86

Cash Provided by (Used for) Operating Activities
– Cont. Ops

$1,324

$(470)

$1,794

1. Op. Earnings Per Share, Op. EBIT, Op. EBIT Margin and Op. EBITDA, Free Cash Flow and Cash Flow Conversion are non-GAAP measures. See appendix for further discussion.
®TM Trademark of The Dow Chemical Company or an affiliated company of Dow 

SEGMENT HIGHLIGHTS

Packaging & Specialty Plastics

Three Months Ended Jun 30

In millions

2Q26

2Q25

vs. SQLY

[B / (W)]

Net Sales

$6,385

$5,025

$1,360

Operating EBIT

$1,278

$71

$1,207

Packaging & Specialty Plastics segment net sales in the quarter were $6.4 billion, up 27% versus the year-ago period. Local price increased 30% year-over-year, primarily driven by higher polyethylene prices in all regions. Currency increased net sales by 1%. Volume decreased 4% year-over-year, driven by lower volumes in both businesses, including higher planned maintenance activity in Hydrocarbons & Energy, resulting in lower merchant sales.  

Op. EBIT was $1.3 billion, an increase of $1.2 billion compared to the year-ago period, driven by higher integrated margins as a result of higher polyethylene prices contributing to margin expansion and tailwinds from the Company's self-help initiatives, which were partly offset by higher planned maintenance activity.

Packaging and Specialty Plastics business reported a net sales increase versus the year-ago period, reflecting higher polyethylene prices, most notably in flexible packaging applications and in all regions. This more than offset lower polyethylene volumes, driven by declines in Europe, the Middle East, Africa and India (EMEAI) and Asia Pacific impacted by the Middle East conflict.

Hydrocarbons & Energy business reported a net sales increase year-over-year, driven by higher olefins prices, which more than offset lower volumes due to planned maintenance activity in the U.S. Gulf Coast and the idling of a cracker in EMEAI in mid-2025, which successfully restarted in June.

Industrial Intermediates & Infrastructure

Three Months Ended Jun 30

In millions

2Q26

2Q25

vs. SQLY

[B / (W)]

Net Sales

$3,166

$2,786

$380

Operating EBIT

$246

$(185)

$431

Industrial Intermediates & Infrastructure segment net sales in the quarter were $3.2 billion, up 14% versus the year-ago period. Local price increased 15% year-over-year, reflecting gains in both businesses and in all regions. Currency increased net sales by 1%. Volume decreased 2% year-over-year, driven by lower volumes in Polyurethanes & Construction Chemicals, including impacts from the Middle East conflict, which were partially offset by increased volume in Industrial Solutions. 

Op. EBIT was $246 million, an increase of $431 million versus the year-ago period, driven by higher margins, tailwinds from the Company's self-help initiatives, lower planned maintenance activity and the suspension of the recognition of equity losses from Sadara.

Polyurethanes & Construction Chemicals business reported an increase in net sales compared to the year-ago period, primarily driven by local price gains, which were partly offset by lower volumes. Volume growth across industrial market applications was more than offset by impacts from the Middle East conflict.

Industrial Solutions business reported an increase in net sales, with local price gains in all regions compared to the year-ago period. Volume growth was driven by recent alkoxylation investments and increased demand for data center applications, partially offset by impacts from the Middle East conflict.

Performance Materials & Coatings

Three Months Ended Jun 30

In millions

2Q26

2Q25

vs. SQLY

[B / (W)]

Net Sales

$2,361

$2,129

$232

Operating EBIT

$133

$152

($19)

Performance Materials & Coatings segment net sales in the quarter were $2.4 billion, up 11% versus the year-ago period. Local price increased 4% year-over-year, driven by an increase in Coatings & Performance Monomers. Currency increased net sales by 1%. Volume increased 6% year-over-year, driven by higher volumes in both businesses, led by growth in downstream silicones.  

Op. EBIT was $133 million, a decrease of $19 million versus the year-ago period, as tailwinds from the Company's self-help initiatives were more than offset by higher fixed costs, including turnaround activity in the quarter and the costs associated with the in-period shutdown of our Barry, U.K. upstream siloxanes plant.

Consumer Solutions business reported an increase in net sales versus the year-ago period, driven by volume gains in downstream silicones, led by consumer, electronics and home care applications.

Coatings & Performance Monomers business reported an increase in net sales across all regions compared to the year-ago period, led by higher price and volume in both acrylic monomers and architectural coatings.

OUTLOOK

"As we look into the second half of 2026, we will continue to build a more agile and resilient company that sets a new competitive standard," said Carter. "We will do so by advancing three priorities: growth and innovation in attractive end markets, investing in and strengthening our portfolio, and ensuring balanced capital allocation. Aligned to this, Transform to Outperform is delivering improvements in both growth and productivity, and we expect the impact of these efforts to ramp significantly throughout the remainder of this year and into 2027. Taken together, our collective actions are focused on enhancing the long-term value Dow delivers across the cycle."

Conference Call
Dow will host a live webcast of its quarterly earnings conference call with investors to discuss its results, business outlook and other matters today at 8:00 a.m. ET. The webcast and slide presentation that accompany the conference call will be posted on the events and presentations page of investors.dow.com.

About Dow
Dow (NYSE: DOW) is one of the world's leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Our global breadth, asset integration and scale, customer-focused innovation and leading business positions enable us to achieve profitable growth and help deliver a sustainable future. We operate manufacturing sites in 29 countries and employed approximately 34,600 people as of year-end 2025. Dow delivered sales of approximately $40 billion in 2025. References to Dow or the Company mean Dow Inc. and its subsidiaries. Learn more about us at www.dow.com.

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Cautionary Statement about Forward-Looking Statements

Certain statements in this press release are "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "opportunity," "outlook," "plan," "project," "seek," "should," "strategy," "target," "will," "will be," "will continue," "will likely result," "would" and similar expressions, and variations or negatives of these words or phrases.

Forward-looking statements are based on current assumptions and expectations of future events that are subject to risks, uncertainties and other factors that are beyond Dow's control, which may cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements and speak only as of the date the statements were made. These factors include, but are not limited to: sales of Dow's products; Dow's expenses, future revenues and profitability; any supply chain, operational or other disruptions, sanctions, export restrictions, or increased economic uncertainty related to the ongoing conflicts between Russia and Ukraine and in the Middle East; capital requirements and need for and availability of financing; unexpected barriers in the development of technology, including with respect to Dow's contemplated capital and operating projects; Dow's ability to realize its commitment to carbon neutrality on the contemplated timeframe, including the completion and success of its integrated ethylene cracker and derivatives facility in Alberta, Canada; size of the markets for Dow's products and services and ability to compete in such markets; Dow's ability to develop and market new products and optimally manage product life cycles; the rate and degree of market acceptance of Dow's products; significant litigation and environmental matters and related contingencies and unexpected expenses; the success of competing technologies that are or may become available; the ability to protect Dow's intellectual property in the United States and abroad; Dow's ability to realize expected benefits from Transform to Outperform on the contemplated timeframe; developments related to contemplated restructuring activities and proposed divestitures or acquisitions such as workforce reduction, manufacturing facility and/or asset closure and related exit and disposal activities, and the benefits and costs associated with each of the foregoing; fluctuations in energy and raw material prices; management of process safety and product stewardship; changes in relationships with Dow's significant customers and suppliers; changes in public sentiment and political leadership; increased concerns about plastics in the environment and lack of a circular economy for plastics at scale; changes in consumer preferences and demand; changes in laws and regulations, political conditions, tariffs and trade policies, or industry development; global economic and capital markets conditions, such as inflation, market uncertainty, interest and currency exchange rates, and equity and commodity prices; business, logistics, and supply disruptions; security threats, such as acts of sabotage, terrorism or war, including the ongoing conflicts between Russia and Ukraine and in the Middle East; weather events and natural disasters; disruptions in Dow's information technology networks and systems, including the impact of cyberattacks; risks related to Dow's separation from DowDuPont Inc. such as Dow's obligation to indemnify DuPont de Nemours, Inc. and/or Corteva, Inc. for certain liabilities; and any global and regional economic impacts of a pandemic or other public health-related risks and events on Dow's business.

Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. A detailed discussion of principal risks and uncertainties which may cause actual results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and the Company's subsequent reports filed with the U.S. Securities and Exchange Commission. These are not the only risks and uncertainties that Dow faces. There may be other risks and uncertainties that Dow is unable to identify at this time or that Dow does not currently expect to have a material impact on its business. If any of those risks or uncertainties develops into an actual event, it could have a material adverse effect on Dow's business. Dow Inc. and The Dow Chemical Company and its consolidated subsidiaries assume no obligation to update or revise publicly any forward-looking statements whether because of new information, future events, or otherwise, except as required by securities and other applicable laws.

®TM Trademark of The Dow Chemical Company or an affiliated company of Dow                 

Non-GAAP Financial Measures
This earnings release includes information that does not conform to GAAP and are considered non-GAAP measures. Management uses these measures internally for planning, forecasting and evaluating the performance of the Company's segments, including allocating resources. Dow's management believes that these non-GAAP measures best reflect the ongoing performance of the Company during the periods presented and provide more relevant and meaningful information to investors as they provide insight with respect to ongoing operating results of the Company and a more useful comparison of year-over-year results. These non-GAAP measures supplement the Company's GAAP disclosures and should not be viewed as alternatives to GAAP measures of performance. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other companies. Non-GAAP measures included in this release are defined below. Reconciliations for these non-GAAP measures to GAAP are provided in the Selected Financial Information and Non-GAAP Measures section starting on page 10. Dow does not provide forward-looking GAAP financial measures or a reconciliation of forward-looking non-GAAP financial measures to the most comparable GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty the ultimate outcome of pending litigation, unusual gains and losses, foreign currency exchange gains or losses and potential future asset impairments, as well as discrete taxable events, without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on GAAP results for the guidance period.

Operating Earnings Per Share is defined as "Earnings (loss) per common share - diluted" excluding the after-tax impact of significant items.

Operating EBIT is defined as earnings (i.e., "Income (loss) before income taxes") before interest, excluding the impact of significant items.

Operating EBIT Margin is defined as Operating EBIT as a percentage of net sales.

Operating EBITDA is defined as earnings (i.e., "Income (loss) before income taxes") before interest, depreciation and amortization, excluding the impact of significant items.

Free Cash Flow is defined as "Cash provided by (used for) operating activities - continuing operations," less capital expenditures. Under this definition, Free Cash Flow represents the cash generated by the Company from operations after investing in its asset base. Free Cash Flow, combined with cash balances and other sources of liquidity, represent the cash available to fund obligations and provide returns to shareholders. Free Cash Flow is an integral financial measure used in the Company's financial planning process.

Cash Flow Conversion is defined as "Cash provided by (used for) operating activities - continuing operations," divided by Operating EBITDA. Management believes Cash Flow Conversion is an important financial metric as it helps the Company determine how efficiently it is converting its earnings into cash flow.

Operating Return on Capital (ROC) is defined as net operating profit after tax, excluding the impact of significant items, divided by total average capital, also referred to as ROIC.

Dow Inc. and Subsidiaries

Consolidated Statements of Income

In millions, except per share amounts (Unaudited)

Three Months Ended

Six Months Ended

Jun 30,
2026

Jun 30,
2025

Jun 30,
2026

Jun 30,
2025

Net sales

$   12,092

$   10,104

$   21,886

$   20,535

Cost of sales

9,925

9,521

19,079

19,281

Research and development expenses

207

188

388

388

Selling, general and administrative expenses

535

347

952

713

Amortization of intangibles

40

63

86

139

Restructuring and asset related charges - net

503

591

530

799

Equity in earnings (losses) of nonconsolidated affiliates

36

(30)

(267)

(50)

Sundry income (expense) - net

125

147

246

160

Interest income

38

39

80

67

Interest expense and amortization of debt discount

210

209

429

425

Income (loss) before income taxes

871

(659)

481

(1,033)

Provision for income taxes

69

142

124

58

Net income (loss)

802

(801)

357

(1,091)

Net income attributable to noncontrolling interests

81

34

169

51

Net income (loss) available for Dow Inc. common stockholders

$       721

$      (835)

$       188

$   (1,142)

Per common share data:

Earnings (loss) per common share - basic

$      0.99

$     (1.18)

$      0.25

$     (1.62)

Earnings (loss) per common share - diluted

$      0.99

$     (1.18)

$      0.25

$     (1.62)

Weighted-average common shares outstanding - basic

723.5

709.5

722.4

708.2

Weighted-average common shares outstanding - diluted

725.1

709.5

723.5

708.2

Dow Inc. and Subsidiaries

Consolidated Balance Sheets

In millions, except share amounts (Unaudited)

Jun 30,
2026

Dec 31,
2025

Assets

Current Assets

Cash and cash equivalents (variable interest entities restricted - 2026: $237; 2025: $31)

$         3,973

$         3,816

Accounts and notes receivable:

Trade (net of allowance for doubtful receivables - 2026: $70; 2025: $59)

6,430

4,762

Other

2,049

1,876

Inventories

7,233

6,595

Other current assets

1,186

1,013

Total current assets (variable interest entities restricted - 2026: $443; 2025: $228)

20,871

18,062

Investments

Investment in nonconsolidated affiliates

1,121

1,264

Other investments (investments carried at fair value - 2026: $2,379; 2025: $2,212)

3,289

3,017

Noncurrent receivables

563

309

Total investments

4,973

4,590

Property

Property

66,599

65,863

Less: Accumulated depreciation

44,391

43,613

Net property (variable interest entities restricted - 2026: $2,348; 2025: $2,385)

22,208

22,250

Other Assets

Goodwill

7,934

7,978

Other intangible assets (net of accumulated amortization - 2026: $5,821; 2025: $5,727)

1,371

1,486

Operating lease right-of-use assets

1,367

1,356

Deferred income tax assets

1,570

1,511

Deferred charges and other assets

1,291

1,305

Total other assets (variable interest entities restricted - 2026: $213; 2025: $226)

13,533

13,636

Total Assets

$       61,585

$       58,538

Liabilities and Equity

Current Liabilities

Notes payable

$             86

$             90

Long-term debt due within one year

758

222

Accounts payable:

Trade

5,385

4,151

Other

1,622

1,394

Operating lease liabilities - current

341

340

Income taxes payable

359

337

Accrued and other current liabilities

3,380

2,649

Total current liabilities (variable interest entities nonrecourse - 2026: $461; 2025: $438)

11,931

9,183

Long-Term Debt (variable interest entities nonrecourse - 2026: $179; 2025: $190)

17,151

17,849

Other Noncurrent Liabilities

Deferred income tax liabilities

353

364

Pension and other postretirement benefits - noncurrent

4,462

4,694

Asbestos-related liabilities - noncurrent

582

628

Operating lease liabilities - noncurrent

1,092

1,097

Other noncurrent obligations

8,647

7,201

Total other noncurrent liabilities (variable interest entities nonrecourse - 2026: $339; 2025: $364)

15,136

13,984

Stockholders' Equity

Common stock (authorized 5,000,000,000 shares of $0.01 par value each;

issued 2026: 791,918,759 shares; 2025: 790,287,565 shares)

8

8

Additional paid-in capital

11,073

11,112

Retained earnings

16,457

16,781

Accumulated other comprehensive loss

(7,662)

(7,660)

Treasury stock at cost (2026: 69,578,048 shares; 2025: 73,065,152 shares)

(4,016)

(4,233)

Dow Inc.'s stockholders' equity

15,860

16,008

Noncontrolling interests

1,507

1,514

Total equity

17,367

17,522

Total Liabilities and Equity

$       61,585

$       58,538

Dow Inc. and Subsidiaries

Consolidated Statements of Cash Flows

In millions (Unaudited)

Six Months Ended

Jun 30,
2026

Jun 30,
2025

Operating Activities

Net income (loss)

$          357

$     (1,091)

Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:

Depreciation and amortization

1,383

1,438

Credit for deferred income tax

(114)

(131)

Earnings of nonconsolidated affiliates less than dividends received

543

220

Net periodic pension benefit credit

(16)

(50)

Pension contributions

(78)

(76)

Net gain on sales of assets, businesses and investments

(49)

(102)

Restructuring and asset related charges - net

530

799

Other net loss

3

104

Changes in assets and liabilities, net of effects of acquired and divested companies:

Accounts and notes receivable

(1,761)

(935)

Inventories

(638)

(158)

Accounts payable

1,347

(12)

Other assets and liabilities, net

941

(372)

Cash provided by (used for) operating activities - continuing operations

2,448

(366)

Cash provided by (used for) operating activities - discontinued operations

7

(13)

Cash provided by (used for) operating activities

2,455

(379)

Investing Activities

Capital expenditures

(1,135)

(1,347)

Proceeds from incentives related to capital expenditures

49

—

Cash flow hedging related to capital expenditures

(6)

—

Investment in gas field developments

(48)

(68)

Proceeds from sales of property, businesses and consolidated companies, net of cash divested

58

131

Investments in and loans to nonconsolidated affiliates

(133)

(20)

Purchases of investments

(782)

(205)

Proceeds from sales and maturities of investments

524

552

Other investing activities, net

53

(5)

Cash used for investing activities

(1,420)

(962)

Financing Activities

Changes in short-term notes payable

17

48

Proceeds from issuance of short-term debt greater than three months

16

37

Payments on short-term debt greater than three months

(34)

(41)

Proceeds from issuance of long-term debt

81

1,107

Payments on long-term debt

(206)

(1,114)

Collections on securitization programs, net of remittances

—

18

Transaction financing, debt issuance and other costs

(3)

(85)

Employee taxes paid for share-based payment arrangements

(15)

(16)

Distributions to noncontrolling interests

(158)

(56)

Proceeds from sale of noncontrolling interests

—

2,433

Dividends paid to stockholders

(505)

(990)

Cash provided by (used for) financing activities

(807)

1,341

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(76)

253

Summary

Increase in cash, cash equivalents and restricted cash

152

253

Cash, cash equivalents and restricted cash at beginning of period

3,952

2,263

Cash, cash equivalents and restricted cash at end of period

$       4,104

$       2,516

Less: Restricted cash and cash equivalents, included in "Other current assets"

131

117

Cash and cash equivalents at end of period

$       3,973

$       2,399

Dow Inc. and Subsidiaries

Net Sales by Segment and Geographic Region

Net Sales by Segment

Three Months Ended

Six Months Ended

In millions (Unaudited)

Jun 30,
2026

Jun 30,
2025

Jun 30,
2026

Jun 30,
2025

Packaging & Specialty Plastics

$    6,385

$    5,025

$   11,304

$   10,335

Industrial Intermediates & Infrastructure

3,166

2,786

5,792

5,641

Performance Materials & Coatings

2,361

2,129

4,441

4,200

Corporate

180

164

349

359

Total

$   12,092

$   10,104

$   21,886

$   20,535

U.S. & Canada

$     4,782

$     3,988

$     8,578

$     8,215

EMEAI 1

3,930

3,272

7,114

6,546

Asia Pacific

1,817

1,737

3,555

3,595

Latin America

1,563

1,107

2,639

2,179

Total

$   12,092

$   10,104

$   21,886

$   20,535

Net Sales Variance by Segment and
Geographic Region

Three Months Ended Jun 30, 2026

Six Months Ended Jun 30, 2026

Local
Price &
Product
Mix

Currency

Volume

Total

Local
Price &
Product
Mix

Currency

Volume

Total

Percent change from prior year

Packaging & Specialty Plastics

30 %

1 %

(4) %

27 %

10 %

2 %

(3) %

9 %

Industrial Intermediates & Infrastructure

15

1

(2)

14

3

3

(3)

3

Performance Materials & Coatings

4

1

6

11

—

2

4

6

Total

20 %

1 %

(1) %

20 %

6 %

2 %

(1) %

7 %

Total, excluding the Hydrocarbons & Energy
  business

18 %

1 %

— %

19 %

6 %

2 %

— %

8 %

U.S. & Canada

17 %

— %

3 %

20 %

5 %

— %

(1) %

4 %

EMEAI 1

21

3

(4)

20

7

6

(4)

9

Asia Pacific

14

—

(9)

5

3

1

(5)

(1)

Latin America

32

—

9

41

12

—

9

21

Total

20 %

1 %

(1) %

20 %

6 %

2 %

(1) %

7 %

Europe, Middle East, Africa and India. Dow Inc. and Subsidiaries

Selected Financial Information and Non-GAAP Measures

Operating EBIT by Segment

Three Months Ended

Six Months Ended

In millions (Unaudited)

Jun 30,
2026

Jun 30,
2025

Jun 30,
2026

Jun 30,
2025

Packaging & Specialty Plastics

$    1,278

$         71

$    1,486

$       413

Industrial Intermediates & Infrastructure

246

(185)

128

(313)

Performance Materials & Coatings

133

152

250

201

Corporate

(9)

(59)

(62)

(92)

Total

$    1,648

$        (21)

$    1,802

$       209

Depreciation and Amortization by Segment

Three Months Ended

Six Months Ended

In millions (Unaudited)

Jun 30,
2026

Jun 30,
2025

Jun 30,
2026

Jun 30,
2025

Packaging & Specialty Plastics

$       361

$       369

$       743

$       729

Industrial Intermediates & Infrastructure

137

153

285

299

Performance Materials & Coatings

158

192

339

392

Corporate

8

10

16

18

Total

$       664

$       724

$    1,383

$    1,438

Operating EBITDA by Segment

Three Months Ended

Six Months Ended

In millions (Unaudited)

Jun 30,
2026

Jun 30,
2025

Jun 30,
2026

Jun 30,
2025

Packaging & Specialty Plastics

$    1,639

$       440

$    2,229

$    1,142

Industrial Intermediates & Infrastructure

383

(32)

413

(14)

Performance Materials & Coatings

291

344

589

593

Corporate

(1)

(49)

(46)

(74)

Total

$    2,312

$       703

$    3,185

$    1,647

Equity in Earnings (Losses) of Nonconsolidated
Affiliates by Segment

Three Months Ended

Six Months Ended

In millions (Unaudited)

Jun 30,
2026

Jun 30,
2025

Jun 30,
2026

Jun 30,
2025

Packaging & Specialty Plastics 1

$         19

$           7

$        (44)

$         46

Industrial Intermediates & Infrastructure 1

15

(39)

(227)

(97)

Performance Materials & Coatings

1

1

2

1

Corporate

1

1

2

—

Total

$         36

$        (30)

$      (267)

$        (50)

Reconciliation of "Net income (loss)" to "Operating EBIT"

Three Months Ended

Six Months Ended

In millions (Unaudited)

Jun 30,
2026

Jun 30,
2025

Jun 30,
2026

Jun 30,
2025

Net income (loss)

$       802

$      (801)

$       357

$   (1,091)

+ Provision for income taxes

69

142

124

58

Income (loss) before income taxes

$       871

$      (659)

$       481

$   (1,033)

-  Interest income

38

39

80

67

+ Interest expense and amortization of debt discount

210

209

429

425

-  Significant items

(605)

(468)

(972)

(884)

Operating EBIT (non-GAAP)

$    1,648

$        (21)

$    1,802

$       209

Packaging & Specialty Plastics and Industrial Intermediates & Infrastructure include losses of $81 million and $211 million, respectively, in the six months ended June 30, 2026, related to the Sadara guarantee liability adjustment, a significant item. Dow Inc. and Subsidiaries

Selected Financial Information and Non-GAAP Measures

Significant Items Impacting Results for the Three Months Ended Jun 30, 2026

In millions, except per share amounts (Unaudited)

Pretax 1

Net 
income
(loss) 2

EPS 3

Income Statement Classification

Reported results

$     871

$     721

$     0.99

Less: Significant items

Transform to Outperform 4

(526)

(418)

(0.58)

SG&A ($81 million); Restructuring and
  asset related charges - net
  ($445 million)

2025 Restructuring Program asset
  related charges and exit and disposal
  costs 5

(58)

(46)

(0.06)

Restructuring and asset related charges
  - net

2025 Restructuring implementation
  costs 6

(28)

(23)

(0.03)

Cost of sales ($27 million); 
  R&D ($1 million)

Indemnification and other transaction
  related credits 7

7

7

0.01

Sundry income (expense) - net

Income tax related items 8

—

150

0.21

Provision for income taxes

  Total significant items

$    (605)

$    (330)

$   (0.45)

Operating results (non-GAAP)

$   1,476

$   1,051

$     1.44

Significant Items Impacting Results for the Three Months Ended Jun 30, 2025

In millions, except per share amounts (Unaudited)

Pretax 1

Net 
income
(loss) 2

EPS 3

Income Statement Classification

Reported results

$    (659)

$    (835)

$   (1.18)

Less: Significant items

2025 Restructuring Program severance
  and related benefit costs and asset
  related charges 5

(591)

(474)

(0.67)

Restructuring and asset related charges
  - net

Implementation costs 6

(5)

(4)

(0.01)

Cost of sales ($1 million);

 SG&A ($4 million)

Net gain on divestitures and asset sale 9

103

77

0.11

Sundry income (expense) - net

Litigation related charges, awards and
  adjustments 10

42

33

0.05

Cost of sales

Indemnification and other transaction
  related costs 7

(17)

(17)

(0.02)

Sundry income (expense) - net

Income tax related items 8

—

(153)

(0.22)

Provision for income taxes

  Total significant items

$    (468)

$    (538)

$   (0.76)

Operating results (non-GAAP)

$    (191)

$    (297)

$   (0.42)

"Income (loss) before income taxes." "Net income (loss) available for Dow Inc. common stockholders." The income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. "Earnings (loss) per common share - diluted," which includes the impact of participating securities in accordance with the two-class method. Includes costs to achieve of $81 million and severance and related benefit costs of $445 million associated with Transform to Outperform. For 2026, includes impairment charges related to the write-down of certain manufacturing facilities and other miscellaneous assets and exit and disposal costs associated with the Company's 2025 Restructuring program. For 2025, includes severance and related benefit costs and impairment charges related to the write-down of certain manufacturing facilities, corporate assets, leased non-manufacturing facilities and other miscellaneous assets associated with the Company's 2025 Restructuring Program. For 2026, includes implementation costs associated with the Company's 2025 Restructuring Program. For 2025, also includes implementation costs associated with the sale of membership interests of the Company's formerly wholly owned subsidiary, Dow InfraCo, LLC. Relates to credits (charges) associated with agreements entered into with DuPont and Corteva as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. For 2026, amount relates to changes in the Company's ability to utilize foreign tax credits associated with cash proceeds received in March 2026 related to a legal matter with Nova Chemicals Corporation ("Nova"). For 2025, amounts relate to valuation allowances on deferred tax assets in certain foreign jurisdictions, partially offset by a tax basis adjustment related to the Company's consolidated infrastructure entity. Relates to a gain on the sale of the Company's soil fumigation product line. Includes a gain associated with the reassessment of liabilities for certain accrued legacy agricultural products groundwater contamination matters, partially offset by the settlement of a separate claim related to water storage district legacy groundwater contamination matters. Dow Inc. and Subsidiaries

Selected Financial Information and Non-GAAP Measures

Significant Items Impacting Results for the Six Months Ended Jun 30, 2026

In millions, except per share amounts (Unaudited)

Pretax 1

Net
Income 2

EPS 3

Income Statement Classification

Reported results

$     481

$     188

$     0.25

Less: Significant items

Transform to Outperform 4

(606)

(481)

(0.67)

SG&A ($134 million); Restructuring
  and asset related charges - net
  ($472 million)

2025 Restructuring Program asset
  related charges and exit and disposal
  costs 5

(58)

(46)

(0.06)

Restructuring and asset related charges
  - net

2025 Restructuring implementation
  costs 6

(49)

(40)

(0.05)

Cost of sales ($47 million);
  R&D ($1 million); SG&A ($1 million)

Sadara guarantee liability adjustment 7

(292)

(227)

(0.31)

Equity in losses of nonconsolidated
  affiliates

Litigation related charges, awards and
  adjustments 8

26

21

0.03

Sundry income (expense) - net

Indemnification and other transaction
  related credits 9

7

7

0.01

Sundry income (expense) - net

  Total significant items

$     (972)

$    (766)

$    (1.05)

Operating results (non-GAAP)

$   1,453

$     954

$     1.30

"Income (loss) before income taxes." "Net income (loss) available for Dow Inc. common stockholders." The income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. "Earnings (loss) per common share - diluted," which includes the impact of participating securities in accordance with the two-class method. Includes costs to achieve of $134 million and severance and related benefit costs of $472 million associated with Transform to Outperform. Includes impairment charges related to the write-down of certain manufacturing facilities and other miscellaneous assets and exit and disposal costs associated with the Company's 2025 Restructuring program. Includes implementation costs associated with the Company's 2025 Restructuring Program. Includes a charge due to a change in fair value of the estimated liability associated with the Company's guarantee of Sadara's project financing debt. Relates to a gain associated with a legal matter with Nova. Relates to credits associated with agreements entered into with DuPont and Corteva as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. Dow Inc. and Subsidiaries

Selected Financial Information and Non-GAAP Measures

Significant Items Impacting Results for the Six Months Ended Jun 30, 2025

In millions, except per share amounts (Unaudited)

Pretax 1

Net Income 2

EPS 3

Income Statement Classification

Reported results

$ (1,033)

$ (1,142)

$   (1.62)

Less: Significant items

Restructuring, implementation and
  efficiency costs, and asset related
  charges - net 4

(51)

(39)

(0.05)

Cost of sales ($44 million);

R&D ($1 million); SG&A ($4 million);
  Restructuring and asset related
  charges - net ($1 million); Sundry
  income (expense) - net ($1 million)

2025 Restructuring Program severance
  and related benefit costs and asset
  related charges 5

(798)

(635)

(0.90)

Restructuring and asset related charges
- net

Implementation costs 6

(5)

(4)

(0.01)

Cost of sales ($1 million);

 SG&A ($4 million)

Net gain on divestitures and asset sale 7

103

77

0.11

Sundry income (expense) - net

Litigation related charges, awards and
  adjustments 8

42

33

0.05

Cost of sales

Loss on early extinguishment of debt

(60)

(48)

(0.07)

Sundry income (expense) - net

Indemnification and other transaction
  related costs 9

(115)

(93)

(0.13)

Cost of sales ($98 million); Sundry
  income (expense) - net ($17 million)

Income tax related items 10

—

(153)

(0.22)

Provision for income taxes

  Total significant items

$    (884)

$    (862)

$   (1.22)

Operating results (non-GAAP)

$    (149)

$    (280)

$   (0.40)

"Income (loss) before income taxes." "Net income (loss) available for Dow Inc. common stockholders." The income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. "Earnings (loss) per common share - diluted," which includes the impact of participating securities in accordance with the two-class method. Includes restructuring charges and implementation and efficiency costs associated with the Company's 2023 Restructuring program. Includes severance and related benefit costs and impairment charges related to the write-down of certain manufacturing facilities, corporate assets, leased non-manufacturing facilities and other miscellaneous assets associated with the Company's 2025 Restructuring program. Includes implementation costs associated with the Company's 2025 Restructuring Program and the sale of membership interests of the Company's formerly wholly owned subsidiary, Dow InfraCo, LLC. Relates to a gain on the sale of the Company's soil fumigation product line. Includes a gain associated with the reassessment of liabilities for certain accrued legacy agricultural products groundwater contamination matters, partially offset by the settlement of a separate claim related to water storage district legacy groundwater contamination matters. Primarily includes a charge related to an arbitration settlement agreement for historical product claims from a divested business. Also includes charges associated with agreements entered into with DuPont and Corteva as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. Relates to valuation allowances on deferred tax assets in certain foreign jurisdictions, partially offset by a tax basis adjustment related to the Company's consolidated infrastructure entity. Dow Inc. and Subsidiaries

Selected Financial Information and Non-GAAP Measures

Reconciliation of Free Cash Flow

Three Months Ended

Six Months Ended

In millions (Unaudited)

Jun 30,
2026

Jun 30,
2025

Jun 30,
2026

Jun 30,
2025

Cash provided by (used for) operating activities - continuing
  operations (GAAP)

$     1,324

$       (470)

$    2,448

$      (366)

Capital expenditures

(632)

(662)

(1,135)

(1,347)

Free Cash Flow (non-GAAP)

$        692

$    (1,132)

$    1,313

$   (1,713)

Reconciliation of Cash Flow Conversion

Three Months Ended

In millions (Unaudited)

Sep 30,
2025

Dec 31,
2025

Mar 31,
2026

Jun 30,
2026

Cash provided by operating activities - continuing operations
  (GAAP)

$  1,130

$     298

$  1,124

$  1,324

Net income (loss) (GAAP)

$     124

$ (1,477)

$    (445)

$     802

Cash flow from operations to net income (GAAP) 1

911.3 %

N/A

N/A

165.1 %

Cash flow from operations to net income - trailing twelve months
(GAAP) 2

N/A

Operating EBITDA (non-GAAP)

$     868

$     741

$     873

$  2,312

Cash Flow Conversion (Cash flow from operations to Operating
  EBITDA) (non-GAAP)

130.2 %

40.2 %

128.8 %

57.3 %

Cash Flow Conversion - trailing twelve months (non-GAAP)

80.9 %

Cash flow from operations to net income is not applicable for the fourth quarter of 2025 and first quarter of 2026 due to a net loss for the period. Cash flow from operations to net income - trailing twelve months is not applicable due to a net loss for the trailing twelve months period. SOURCE The Dow Chemical Company

Posted by Defense World Staff on Jul 23rd, 2026

Aureus Asset Management LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,518 shares of the financial services provider’s stock, valued at approximately $1,713,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diversified Trust Co. grew its stake in Wells Fargo & Company by 59.7% in the 4th quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider’s stock valued at $3,289,000 after acquiring an additional 13,196 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wells Fargo & Company by 19.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider’s stock valued at $49,610,000 after purchasing an additional 84,902 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of Wells Fargo & Company by 4.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock valued at $32,673,000 after purchasing an additional 14,168 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Wells Fargo & Company by 4.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock valued at $38,446,000 after purchasing an additional 17,302 shares during the last quarter. Finally, Winning Points Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $3,384,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

More Wells Fargo & Company News Here are the key news stories impacting Wells Fargo & Company this week:

Positive Sentiment: Wells Fargo reported Q2 2026 earnings with EPS up 25%, supported by revenue growth and efficiency gains across all segments, reinforcing the company’s operating momentum. Wells Fargo Q2 2026 Earnings Call Transcript Positive Sentiment: The bank raised its dividend by 11% to $0.50 per share after passing the Federal Reserve stress test with a CET1 ratio comfortably above required levels, which signals balance-sheet strength and capital flexibility. This High-Yield Bank Stock Just Raised Its Dividend by 11% Positive Sentiment: Wall Street analysts remain broadly constructive on WFC, and recent coverage highlights that broker recommendations continue to lean bullish on the stock. Wall Street Bulls Look Optimistic About Wells Fargo (WFC): Should You Buy? Positive Sentiment: Wells Fargo also appointed Tom Nicholls to lead Sports Investment Banking, a move that suggests it is expanding higher-fee advisory capabilities in a niche growth area. Wells Fargo (WFC) Appoints Tom Nicholls To Lead Sports Investment Banking Neutral Sentiment: WFC is also showing up on “trending stocks” lists, reflecting elevated investor interest rather than a clear fundamental catalyst by itself. Wells Fargo & Company (WFC) Is a Trending Stock: Facts to Know Before Betting on It Neutral Sentiment: Broader market commentary favoring banks over volatile tech names is also providing a supportive backdrop for large financials like Wells Fargo. This High-Yield Bank Stock Just Raised Its Dividend by 11% Negative Sentiment: A MarketWatch piece about a customer receiving a lower-than-expected credit limit on a balance-transfer request could add to scrutiny around Wells Fargo’s consumer lending practices, though it appears anecdotal rather than company-wide. I wanted to transfer $17,000 in credit-card debt. Why did Wells Fargo offer me only a $4,000 credit limit? Wall Street Analysts Forecast Growth A number of equities research analysts recently issued reports on the company. Bank of America upped their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Truist Financial boosted their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Robert W. Baird upped their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Finally, HSBC raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.50.

Get Our Latest Analysis on WFC

Wells Fargo & Company Trading Down 1.3% Shares of Wells Fargo & Company stock opened at $86.61 on Thursday. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The firm has a market cap of $265.05 billion, a PE ratio of 12.59, a P/E/G ratio of 0.96 and a beta of 0.92. The business’s fifty day moving average is $82.21 and its two-hundred day moving average is $83.55. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 26.16%.

About Wells Fargo & Company (Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

Read More Five stocks we like better than Wells Fargo & Company 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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Posted by Defense World Staff on Jul 23rd, 2026

ABN Amro Investment Solutions lessened its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 32.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,205 shares of the financial services provider’s stock after selling 81,756 shares during the period. ABN Amro Investment Solutions’ holdings in U.S. Bancorp were worth $8,904,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Paulson Wealth Management Inc. raised its holdings in U.S. Bancorp by 2.0% in the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after buying an additional 173 shares during the last quarter. Flputnam Investment Management Co. grew its holdings in shares of U.S. Bancorp by 1.4% during the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock valued at $732,000 after buying an additional 186 shares during the last quarter. Formidable Asset Management LLC grew its holdings in shares of U.S. Bancorp by 0.8% during the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider’s stock valued at $1,247,000 after buying an additional 186 shares during the last quarter. Balboa Wealth Partners increased its position in shares of U.S. Bancorp by 4.0% during the first quarter. Balboa Wealth Partners now owns 4,920 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 188 shares in the last quarter. Finally, Richmond Investment Services LLC increased its position in shares of U.S. Bancorp by 1.9% during the fourth quarter. Richmond Investment Services LLC now owns 10,107 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 192 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 1.2% NYSE:USB opened at $64.48 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The company has a market cap of $100.02 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. The company has a 50 day simple moving average of $58.48 and a two-hundred day simple moving average of $56.30.

U.S. Bancorp (NYSE:USB – Get Free Report) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The business had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the previous year, the business earned $1.11 EPS. Research analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is 41.52%.

Insiders Place Their Bets In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades Several analysts have commented on USB shares. Raymond James Financial began coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 target price on the stock. Stephens boosted their price target on U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Wells Fargo & Company increased their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $65.00 to $67.50 in a report on Monday. Finally, Evercore raised U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.

View Our Latest Analysis on U.S. Bancorp

U.S. Bancorp Profile (Free Report)

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

Read More Five stocks we like better than U.S. Bancorp 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 USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB – Free Report).

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