Track market-moving stories before they get noisy

Key Takeaways FICO's Q3 revenues are expected to rise 26.64%, with earnings projected to grow 40.26% year over year.Higher mortgage pricing, healthy originations and Score 10T adoption may support FICO's Scores growth.FICO Platform ARR rose 49% to $349 million on customer wins, broader use cases and migrations. Fair Isaac Corporation (FICO - Free Report) is set to report its third-quarter 2026 results on July 29.

The Zacks Consensus Estimate for third-quarter 2026 revenues is pegged at $679.31 million, suggesting an increase of 26.64% from the reported figure in the year-ago quarter.

The consensus mark for third-quarter 2026 earnings is pegged at $12.02 per share, down by 0.25% over the past 30 days, while indicating 40.26% year-over-year growth.

The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 8.78%.

Let us see how things have shaped up prior to this announcement.

Factors Likely to Impact FICO’s Q3 PerformanceFICO's third-quarter 2026 performance is likely to have been driven by continued strength in its Scores business, supported by higher mortgage pricing and healthy origination activity. Mortgage origination revenues surged 127% year over year in the second quarter of 2026, reflecting the benefit of higher pricing and stronger volumes.

The rollout of FICO Score 10T is expected to have provided another growth tailwind in the to-be-reported quarter. During the second quarter of 2026, the company added 11 lenders to its Early Adopter Program, bringing the total to 55 lenders that represent more than $495 billion in annual serviceable mortgage originations. Three of the five largest mortgage resellers have signed up for the Direct Licensing Program, with the remaining two expected to join pending final regulatory approval. These developments are likely to have supported broader adoption of FICO Score 10T in the to-be-reported quarter.

Fair Isaac’s software business is also likely to have benefited from continued momentum in the FICO Platform. Total software ARR increased 10% year over year to $789 million in the second quarter of 2026, while Platform ARR jumped 49% to $349 million. Platform revenues grew 54%, supported by new customer wins, expanded use cases among existing customers and migrations to the platform. Management noted that software bookings are expected to be stronger in the second half of fiscal 2026 than in the first half, reflecting a healthy sales pipeline. This momentum is expected to have continued in the to-be-reported quarter as well.

FICO’s investments in explainable artificial intelligence (AI) and decisioning software are expected to remain a positive catalyst. The company highlighted that the FICO Platform is "agentic-by-design," with more than 150 customers using it across multiple use cases. Management noted that FICO has been issued 137 AI-related patents and continues to invest in explainable AI capabilities for highly regulated industries, strengthening its competitive positioning as enterprise AI adoption accelerates.

However, delays in regulatory approvals for the FICO Score 10T Direct Licensing Program and uncertainty regarding the timing of its commercial rollout could affect the pace of adoption in the to-be-reported quarter. Management continues to assume conservative mortgage volume trends, while macroeconomic conditions and housing market activity remain variables that could influence quarterly performance.

What Our Model Says About FICOPer the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the exact case here.

Fair Isaac currently has an Earnings ESP of -0.04% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Stocks to ConsiderHere are some companies worth considering, as our model shows that they have the right combination of elements to post an earnings beat in their upcoming releases.

Amphenol (APH - Free Report) has an Earnings ESP of +1.12% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Amphenol shares have gained 16.5% year to date. Amphenol is scheduled to report its second-quarter 2026 results on July 29.

ASE Technology (ASX - Free Report) has an Earnings ESP of +21.21% and a Zacks Rank #2 at present.

ASE Technology shares have surged 145.1% year to date. ASE Technology is set to report its second-quarter 2026 results on July 30.

Fortive (FTV - Free Report) has an Earnings ESP of +2.82% and a Zacks Rank #2 at present.

Fortive shares have gained 9.8% in the year-to-date period. Fortive is set to report its second-quarter 2026 results on July 29.

Key Takeaways Cadence reports Q2 results on July 27, with EPS and revenues expected to rise more than 20%.Recurring revenues, an $8 billion backlog and rising EDA spending support Cadence's outlook.Macroeconomic uncertainty, U.S.-China tensions and stiff competition remain concerns. Cadence Design Systems, Inc. (CDNS - Free Report) will release results for the second quarter of 2026 on July 27.

The Zacks Consensus Estimate for second-quarter earnings is $2.05 per share, unchanged in the past 60 days. The consensus mark implies a 24.2% increase from the year-ago actual. The Zacks Consensus Estimate for revenues is pinned at $1.58 billion, indicating a nearly 23.6% uptick from the year-ago actual.

Management expects revenues to be $1.555-$1.595 billion for the second quarter. The company reported sales of $1.275 billion in the year-ago quarter. Non-GAAP EPS is anticipated to be between $2.02 and $2.08. The company reported an EPS of $1.65 in the year-ago quarter. Non-GAAP operating margin is estimated to be between 44.5% and 45.5% in the second quarter.

Cadence has an impressive earnings surprise history. The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 5.48%.

Price Performance
Image Source: Zacks Investment Research

CDNS stock has gained 2.7% in the past six months against the Computer-Software industry’s decline of 22.7%. The S&P 500 composite and the Zacks Computer and Technology sector have risen 5.6% and 8.7%, respectively, in the same time frame.

Factors Shaping CDNS’ Q2 ResultsBroad-based momentum across electronic design automation (“EDA”), IP and System Design & Analysis (“SDA”), supported by robust bookings, improving pricing dynamics and sustained demand tied to AI-driven semiconductor complexity, remains a key catalyst.

AI has been driving a major transformation in semiconductor and system design and Cadence is deeply integrated into this shift. Design activity across several verticals, especially data centers, drones, robotics and automotive, has been robust, due to AI, hyperscale computing and 5G. The focus on Generative AI, Agentic AI and Physical AI has been leading to an exponential increase in computing demand and semiconductor innovation.

Rising customer R&D investments in AI-driven automation have been creating a favorable demand environment for Cadence. On the last earnings call, Management noted that EDA spending has now increased from approximately 7% to 11% of customer R&D budgets, and this is expected to rise further with AI-driven automation.

The launch of ChipStack AI Super Agent (February 2026), the industry’s first agentic AI workflow purpose-built for front-end silicon design and verification, bodes well. Cadence acquired Chipstack, which provides agentic AI solutions for chip verification, in November 2025. On the last earnings call, the company emphasized its agentic AI strategy, including the launch of AgentStack framework and new AI Super Agents (ViraStack and InnoStack) that are designed to automate more of the chip design workflow. Cadence expects agentic tools to drive higher EDA consumption and usage across its platform as customers run more simulations, verification and implementation cycles.

Cadence’s ratable software model and high mix of recurring revenues are other positives. At the end of the first quarter of 2026, Cadence had a backlog of $8 billion.

The company has been collaborating with several tech giants, including Qualcomm and NVIDIA, on their next-generation AI designs across both training and inference. Expanding partnerships with its foundry partners, like Samsung, Taiwan Semiconductor Manufacturing, Intel and Arm Holdings, bodes well.

Ongoing uncertainty prevailing over global macroeconomic conditions, especially U.S.-China tech tensions, along with stiff competition in the EDA space and inflation, remains a concern ahead of the first-quarter earnings. China contributed to about 13% of first-quarter 2026 revenues and management expects 2026 contribution to be about the same percentage.

Taking a Look at SegmentsCore electronic design automation (“EDA”) business (which constitutes Custom IC, Digital IC and Functional Verification businesses) is likely to have gained from demand for the new hardware systems, especially among AI, automotive and high-performance computing clients. Uptake of solutions such as Cerebrus AI Studio, Virtuoso Studio, Xcelium, Verisium SimAI and ChipStack is likely to have cushioned the segment’s performance.

The SDA division is likely to have gained from the increasing demand for BETA CAE solutions, along with 3D-IC, Sigrity and Clarity.  

The IP business has been gaining from an expanding silicon solutions portfolio and increasing demand for solutions in AI, HPC and automotive use cases. The company has been witnessing higher demand for its Star IP portfolio across interface, memory and foundation IP amid higher complexity of advanced node designs and chiplet-based architectures.

Earnings Whispers for CDNSOur proven model does not predict an earnings beat for Cadence this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here.

CDNS currently has a Zacks Rank #3 and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Stocks to ConsiderHere are a few stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season.

Celestica (CLS - Free Report) currently has an Earnings ESP of +1.86% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Celestica is scheduled to report quarterly earnings on July 27. The Zacks Consensus Estimate for CLS’ to-be-reported quarter’s earnings and revenues stands at $2.29 per share and $4.35 billion, respectively. Shares of Celestica have gained 96.7% in the past year.

Seagate Technology Holdings plc (STX - Free Report) has an Earnings ESP of +1.75% and a Zacks Rank #1 at present. STX is scheduled to report quarterly figures on July 28. The Zacks Consensus Estimate for Seagate Technology’s to-be-reported quarter’s earnings and revenues is pinned at $5.10 per share and $3.49 billion, respectively. Shares of Seagate Technology are up 505.3% in the past year.

Teradyne (TER - Free Report) has an Earnings ESP of +0.59% and a Zacks Rank #2 at present. The company is scheduled to report quarterly figures on July 28. The Zacks Consensus Estimate for Teradyne’s to-be-reported quarter’s earnings and revenues is pinned at $2.04 per share and $1.22 billion, respectively. Shares of Teradyne are up 314.6% in the past year. 

Key Takeaways GEHC is expected to post healthy Q2 revenue growth, backed by imaging, diagnostics, and services demand.GEHC faces margin pressure from inflation, freight, tariffs, and higher input costs despite pricing actions.GEHC expects stronger second-half performance as efficiencies, pricing, and new products gain traction. GE HealthCare Technologies Inc. (GEHC - Free Report) is scheduled to report second-quarter 2026 results on July 29, before market open.

In the last reported quarter, the company’s adjusted earnings per share (EPS) of 99 cents missed the Zacks Consensus Estimate by 7.48%. The company beat on earnings in three of the trailing four quarters and missed once, delivering an average surprise of 2.90%.

Let’s check out the factors that might have shaped GEHC’s performance prior to the announcement.

Factors Likely to Have Driven GEHC’s Q2 PerformanceGE HealthCare is expected to have delivered another quarter of healthy revenue growth, supported by resilient global demand for imaging equipment, continued strength in Pharmaceutical Diagnostics (PDx), and robust services performance. On its first-quarter earnings call, management had maintained its full-year organic revenue growth outlook of 3-4%, citing healthy order trends, a record $21.8 billion backlog, strong book-to-bill, and improving commercial execution despite a cautious view on China.

However, profitability is likely to have remained under pressure from elevated inflation in memory chips, freight, oil and commodity costs, with management already guiding for low-single-digit adjusted EPS decline in the second quarter before improvement in the second half.

Following the organizational restructuring, the newly created Advanced Imaging Solutions business is likely to have benefited from sustained demand for CT, X-ray, ultrasound and visualization products. Imaging demand should have been supported by Revolution Vibe cardiac CT systems, while Advanced Visualization Solutions likely continued to benefit from adoption of products, such as Vivid Pioneer and other AI-enabled platforms. Although Photonova Spectra photon-counting CT generated encouraging customer interest after regulatory approvals, revenue contribution is unlikely before 2027 due to typical installation timelines.

Pharmaceutical Diagnostics is likely to have remained the company's strongest-performing business. Continued growth in contrast media, radiopharmaceuticals and molecular imaging, along with accelerating Flyrcado adoption and increasing Vizamyl demand driven by Alzheimer's imaging, likely supported another solid quarter. However, planned investments in the radiopharmaceutical pipeline and integration of recent acquisitions may have weighed on margin expansion.

Patient Care Solutions likely remained the weakest segment, although management expects gradual improvement later in the year as large monitoring installations convert from backlog and the premium anesthesia platform approaches regulatory clearance. Lower first-half volume and ongoing tariff-related costs probably continued to weigh on segment profitability.

On the margin front, the second quarter is expected to represent the peak impact from inflationary input costs, including memory chips and freight, while pricing actions and cost mitigation initiatives are likely to have provided only limited near-term relief because much of the second-quarter revenues probably originated from existing backlog. Adjusted EBIT margin and EPS are expected to have remained pressured, with a stronger recovery anticipated during the second half as pricing actions, operating efficiencies and new product momentum begin to offset inflationary pressures.

GEHC’s Estimate PictureFor second-quarter 2026, the Zacks Consensus Estimate for revenues is pegged at $5.25 billion, implying an improvement of 5% from the prior-year quarter’s reported figure.

The consensus estimate for EPS is pegged at $1.04, indicating a decrease of 1.9% from the prior-year period’s reported number.

What Our Model Suggests for GE HealthCarePer our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.

Earnings ESP: GE HealthCare has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank stocks here.

GEHC’s Share Price PerformanceSo far this year, GE HealthCare’s shares have lost 24.4% compared with the industry’s 22.5% decline. The S&P 500 has gained 9.2% during the said period.

Image Source: Zacks Investment Research

Stocks Worth a LookHere are some stocks from broader medical sector worth considering, as these have the right combination of elements to post an earnings beat this reporting cycle.

Cardinal Health (CAH - Free Report) has an Earnings ESP of +1.24% and a Zacks Rank #2 at present. The company is set to release fourth-quarter fiscal 2026 results on Aug. 11. You can see the complete list of today’s Zacks #1 Rankstocks here.

CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 10.27%. The Zacks Consensus Estimate for CAH’s fourth-quarter EPS indicates an improvement of 16.4% from the year-ago reported figure.

Henry Schein (HSIC - Free Report) has an Earnings ESP of +0.41% and a Zacks Rank of 2 at present. The company is scheduled to release second-quarter 2026 results on Aug. 4.

HSIC’s earnings surpassed estimates in three of the trailing four quarters and missed once, with the average surprise being 3.74%. The Zacks Consensus Estimate for HSIC’s second-quarter EPS implies an improvement of 10.9% from the year-ago reported figure.

Agilent Technologies (A - Free Report) has an Earnings ESP of +1.02% and a Zacks Rank of 3 at present.

A’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 1.61%. The Zacks Consensus Estimate for A’s third-quarter fiscal 2026 EPS reflects an improvement of 8% from the year-ago reported figure.

Key Takeaways PulteGroup's wider community base lifted second-quarter net new orders 6.4% to 7,536 homes.Build-to-order homes rose to 45% of orders as PulteGroup cut spec homes in production 13%.PulteGroup's gross margin fell 200 basis points to 25.0% as incentives reached 10.4% of prices. PulteGroup (PHM - Free Report) is widening its community base to support orders across first-time, move-up and active-adult buyers. That broader reach is helping offset ofter affordability conditions.

The trade-off is clear. Closings, average selling prices and margins remain under pressure, making inventory discipline central to PHM’s near-term execution.

PulteGroup’s Community Growth Supports New OrdersSecond-quarter net new orders increased 6.4% year over year to 7,536 homes. The gain came as average community count rose 8% to 1,074.

Absorption slipped 1% to 2.3 homes per community per month. That suggests community expansion, rather than stronger demand at each location, remains the main volume driver.

PHM Shifts Back Toward Build-to-Order HomesPulteGroup is moving back toward its long-term mix of 60% build-to-order homes and 40% spec homes. Build-to-order properties represented 45% of second-quarter orders, up from 40% a year earlier.

The shift is helping reduce inventory risk. Spec homes in production declined 13% to 6,638, while finished spec inventory fell to about 1.3 homes per community.

PulteGroup Reaches Multiple Buyer SegmentsPulteGroup’s second-quarter orders were balanced across buyer groups: 39% first-time, 36% move-up and 25% active adult. That mix reduces reliance on one customer category.

Orders increased across all three groups. Active-adult orders rose 12%, while first-time and move-up orders advanced 5% and 4%, respectively.

PHM Uses Geographic Scale to Manage VolatilityOrders rose in every region except the West, led by 19% growth in Florida. Demand was also favorable in several Midwest markets, Greenville and the Coastal Carolinas.

This geographic breadth gives PulteGroup room to adjust incentives, inventory and capital by local market. Peers such as D.R. Horton (DHI - Free Report) and Lennar Corporation (LEN - Free Report) face similar affordability and pricing trade-offs, making local scale an important competitive lever across the homebuilding group.

PulteGroup Faces Persistent Margin PressureHome sale gross margin declined 200 basis points year over year to 25.0%. Incentives equaled 10.4% of gross selling prices, up from 8.7% a year earlier.

Lower closings and a softer average selling price weighed on revenues, while selling, general and administrative expenses rose as a percentage of home sale revenues. Higher lot costs also remain a risk, even if lower construction costs provide some offset.

PHM’s Ratings Reflect Balanced Near-Term SignalsThe bottom line is that PulteGroup is generating orders through broader market coverage and tighter inventory control, but affordability pressure is still limiting operating leverage. The setup is resilient, not risk-free.

PHM currently carries a Zacks Rank #2 (Buy), indicating a favorable short-term earnings-revision signal. The stock also has a Value Score of B, Momentum Score of B and VGM Score of B, which support a constructive near-term profile. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Growth Score of D keeps the outlook mixed. Projected declines in earnings and sales suggest investors should balance PHM’s order resilience against ongoing margin and demand pressure.

Circle is facing criminal charges in Wisconsin because, in relation to some investment fraud, "Circle Internet Financial LLC has declined to repatriate the corresponding fiat reserves" and "Circle has not complied with a Circuit Court Judge’s seizure warrant."

Law enforcement secured a seizure warrant which Circle will not enforce. Circle claims they cannot enforce it. The government is charging Circle for declining to enforce it. Whatever is going on: everyone agrees Circle is not currently enforcing it.

This column has a long history of pulling entertaining and contradictory bits out of company public statements and (usually much later) legal settlements where those companies got caught doing something they were not supposed to do. Much of the time the company in question made explicit statements that it would not do the conduct it eventually admitted doing. And much of the time those public statements were contemporaneous with the bad conduct. But we only found out they were lying years later.

Here we have the rare opportunity to work through seemingly-false statements made by a company during a public dispute with law enforcement in real time. So that is what we are going to do. Some of this was covered by the ICIJ but we think their narrative is too generous towards Circle.

Some BackgroundTether routinely seizes funds for law enforcement. Tether has the power to transfer USDT out of your address and burn them without your knowledge or consent. So to seize funds Tether just burns tokens from anywhere and then issues fresh replacement USDT to whatever address law enforcement wants. In theory Tether could also take the funds back from law enforcement — the same process can be used for any address — though that has not yet happened. Tether has had these powers for many years. Nothing is this paragraph is new or controversial.

Circle is a little bit different. Circle does not currently have a seize function in their tokens. Both Tether and Circle can freeze funds – immobilizing them in an address – but Circle's current smart contracts do not support seizure. Circle routinely freezes tokens but it does not seize them. This is presumably what Circle was referring to when it told the Walworth County Circuit Court:

Beyond the ability to blocklist wallets, however, Circle has no control of USDC held in third-party wallets and has no ability to invalidate and reissue such USDC or to transfer them.The key words here are "has no control" and "has no ability." Circle uses the conjunction "and" meaning Circle believes both of those claims to be independently true. If Circle has any way to wrangle invalidation then Circle made a false statement to the court. Given invalidation we know reissuance is possible because once you invalidate the "bad" tokens the reissuance is just issuance. Which happens all the time. So the threshold question here is whether Circle can "invalidate" USDC in an address specifed by law enforcement.

Circle's PowersCircle cannot currently invalidate USDC and seize funds. But Circle can upgrade USDC to have whatever functionality it desires. So it cannot follow this roadmap to comply with a seizure order:

Seize the fundsBut absolutely it can comply with this roadmap:

Upgrade USDC to allow seizureSeize the fundsIn a strange turn, Circle told the government the required process to seize the funds was as follows. And bear in mind we are quoting Circle's own court filing here so this is presumably a generous phrasing from Circle's perspective:

Circle also communicated to Detective Kuchta that (1) the address was not held at Circle; (2) Circle did not have the private keys for the address; (3) Circle could not, therefore, transfer USDC from the wallet; and (4) to recover the USDC for the victim law enforcement would need to locate the private keys for the address. By telling the police to go find the private keys Circle is being, well, let's call it intransigent. Actually, no, let us be a bit more direct (with apologies to Andy Samberg and Justin Timberlake). Circle looks to prefer these steps:

Get charged for no function to seizeMoan how it sucks to seizePut in a function to seizeThat’s the way they do it. Circle is being a...go watch the video in that last link.

It is hardly a secret Circle can upgrade the USDC contracts so it looks pretty likely this capability will eventually come up in court and the judge will sort Circle out. Circle's terms also provide the company with incredibly broad discretion to deny anyone access at any time and in any manner at all for pretty much any reason. This text is in the Acceptable Use Policy describing a list of things you are not allowed to do with USDC and which might lead Circle to cut you off:

For clarity, the following lists are not exhaustive and we may, at our sole discretion, modify them without notice.So Circle can decide anything it likes is out of bounds. And that document covers:

services provided by Circle Internet Financial, LLC, Circle Payments, LLC, Circle UK TradingLimited and/or Circle International Bermuda Limited (together, “Circle”), inclusive of, but not limited to, Circle Mint account,Application Programming Interface products, card processing, and the Circle Yield offering (together and separately, the “Services”), The "but not limited to" would seem to provide sufficient cover to enforce a court order by including whatever corners of Circle's operation are needed to effect the required upgrades. Remember: in this case a court is telling Circle to do something and Circle is not doing it. Maybe you think reading that clause in such a broad manner is squirrely. Sure, maybe. But that is a problem when a strained reading is used to evade a court or the clear intent of a contract or some other agreement. In the present case not reading these powers broadly led to criminal charges and is, in a real and on-going sense, blocking enforcement of a court order. Using this ambiguity to comply with the court is not going to anger the court. Certainly not any more than the current behaviour will.

Circle's Terms vs. ActionsIn Circle's documentation the company anticipates that court orders may come in to request asset freezes. There is an Access Denial Policy which sets out the freeze framework. And there is even a section entitled "Blocked Addresses & Forfeited Funds" in the USDC Terms. That later section includes this text:

Circle may also be required to freeze USDC and/or surrender associated USD held in Segregated Accounts in the event it receives a legal order from a valid government authority requiring it to do so.This anticipates the idea that a court order may mandate sending USD somewhere the court directs. The word "forfeited" appears in a section heading. And if we look at the government's description in Wisconsin we find something very much on point:

The Court’s Warrant ordered Circle to “facilitate the seizure” of Victim #1’s USDC and invalidate that USDC so that it had no value. The Warrant then ordered Circle to issue approximately $381,000 in new USDC to compensate Victim #1 and transfer that new USDC to a digital wallet owned by the Walworth County Sheriff’s Department. This procedure is known as “burn and reissue”."Facilitate the seizure" is a broad directive. The court is not telling Circle precisely how to satisfy the court's desires. The court is simply saying "find a way to do this." And Circle's on-the-record response is weird. Above we quoted Circle's broad claim of "no ability." The government's narrative gives a bit more colour there too:

In subsequent discussions, Circle’s representatives have explained that the company holds approximately $381,000 in US Currency in reserve to cover the value of Victim #1’s USDC, even though that USDC cannot be redeemed by anyone for US Currency because Circle froze it. Circle protested that if it issued $381,000 worth of new USDC, it would also have to hold an additional $381,000 in US Currency to cover the new USDC. Circle objected that it would be unfair for the company to have to set aside that much US Currency in reserve. Circle also stated that by the terms of its own contracts, it will not “burn and reissue” USDC.This is some twisted logic. Circle seems to believe it is required to maintain backing for all USDC, frozen or not, and that because it currently cannot burn and reissue USDC this would require holding double reserves for the recovered amount and that – the double reserving Circle just imposed on itself – is unfair.

We will immediately concede that double reserving here is unreasonable and dumb. But the double reserving is only "required" if we accept Circle's claim it cannot do the burn and reissue. This is a strained attempt for Circle to look like the victim. Possibly so that Circle can continue to collect interest on the US$381,000 in reserves it holds against the frozen tokens

Said another way: Circle's protest assumes Circle will not use its power to upgrade the USDC to allow seizures. We know this is Circle's thinking because, again quoting the Wisconsin government:

Circle also stated that by the terms of its own contracts, it will not “burn and reissue” USDC.This is weird. The word "reissue" does not appear on circle.com, as of this writing, per a number of searches. And the USDC Risk Factors also include a section entitled "Blocked Addresses & Forfeited Funds" so this is puzzling. If we read the reference to "its own contracts" in that last quote from Circle as pertaining to the USDC smart contracts it is again true in a literal-and-useless sense. By the terms of the currently deployed smart contracts there is no reissue power. But by the terms of those same contracts Circle can simply change the contracts.

Circle looks to be playing games so it can collect interest on frozen USDC forever. Holding frozen scam-related funds forever and keeping the interest is an interesting business model.

ContractsIf you have ever entered into any sort of commercial agreement you have probably seen clauses that allow someone to modify the terms under extreme circumstances and maybe also in a "commercially reasonable manner" if the need arises. Most contracts contemplate the idea that things can change and some amount of flexibility is required. For example, a company may change its office address. Or it may change where it banks. Or any number of other things. If you enter into a contract which includes bank details and the other party changes where it banks that does not mean you automatically can stop paying. If the company tells you where to send the money instead you cannot just decide to terminate the contract (unless it is a very strange contract indeed).

Similarly, you might enter into a contract based on some published reference price – think oil or gold or a commercial property index or some interest rate benchmark – and the name of that thing might change. Or where or how it is published might change. Someone is supposed to keep things up to date in a commercially reasonable manner. There is standard verbiage for this in many industries and if you end up in court the judge will make you do the sensible thing. Yes there are corner cases. But the Circle mess is really quite simple. Circle's term look to allow for enforcement here. And there is a simple sequence of steps Circle can follow to do the enforcement. None of this makes much sense.

Circle looks to be trying to interpret things in an incredibly narrow and self-serving way to manufacture an injury Circle would suffer if it complied. And then to moan that imagined injury is unfair. If we go back to Circle's own words to the court this is clearly exactly what they are doing:

The Complaint’s sole allegation regarding Circle’s intentional disobedience is that “Circle...refused to invalidate the stolen USDC or issue new USDC,” Compl. ¶ 9. But the Complaint clearly misrepresents the content of the relevant communication. Circle did not “refuse” to invalidate the stolen USDC; it stated that it “does not hold the private keys to the address.” Compare Compl. ¶ 9 with Ex. 6. That is an accurate statement that Circle lacked the tools required to “invalidate” the USDC held in the Blocklisted Wallet, not an intentional refusal to comply with the terms of the Second Warrant.Circle was directed to "facilitate the seizure" of the funds. And then Circle asserts it did not refuse to invalidate the USDC in question – its just that Circle has no button labelled "seize" to press. But Circle did refuse to upgrade the USDC contracts to add a seize button.

Circle also presented the total non-sequitur that it "does not hold the private keys to the address" of the fraud-linked funds. This is also arguable. It is true in the sense that Circle does not hold the fraudster's private keys. But the term "private keys" is not being used in a technically precise sense here because there are two sets of private keys that can move the funds. The term "private keys" as used here connotes control over funds. And so long as Circle has the private keys to upgrade USDC it has one set of private keys that can facilitate a seizure out of the addresses in question. Remember: USDC and USDT are not true bearer assets. The issuers retain a lot of control over "your" funds.

Maybe you think we are giving the authorities too much credit and we should interpret the claim in narrow technical terms? Under that reading, you may be thinking, it is not Circle's problem the government asked for the wrong thing. We have sympathy for this sentiment. But there is a bigger problem. If we interpret everything in these documents in narrow technical terms Circle is wrong that it has "no ability to invalidate and reissue such USDC or to transfer them." It has the ability to do this by upgrading the contract to give itself the ability. This falsity then gives rise to a litany of other false claims including:

Circle "would also have to hold an additional $381,000 in US Currency to cover the new USDC": false because once Circle has burn power there is no need to double reserve. And that is if we accept the need in the first place as Circle can simply declare the address outlaw and ignore it.Circle also stated that by the terms of its own contracts, it will not “burn and reissue” USDC: this is at most a policy Circle can revise in its sole discretion. And having a policy to defy court orders is pretty much exactly what Circle is charged with here.Circle has no control of USDC held in third-party wallets: false because in a technical sense Circle has more than "no" control via contract upgradability. It has, and we apologize for the technobabble here, "some" control.Circle...has no ability to invalidate: false via upgradability.Circle...has no ability to...reissue such USDC or to transfer them: false via upgradability.If we read the claims in the dispute broadly: Circle is not being candid. If we read the claims narrowly: Circle is not being honest. Unless Circle has somehow lost the ability to upgrade USDC – which would be a far larger problem if kept hidden for so long – we just cannot see a way they are telling the truth here. Maybe there is one but there is certainly no hint of such an explanation in the court filings to date.

Circle's Principled ResistanceWhat makes this even stranger: Circle's terms also contemplate circumstances in which the company will resist court orders. But that too does not fit what is happening here. Again from the Access Denial document:

Circle reserves all rights to object to an access denial order that presents a threat to Circle Stablecoin or that Circle determines is objectionable.USDC holders do not have any rights or derive any value from this. But it presumably empowers the company to do what it is doing in Wisconsin now without worrying about shareholders suing anyone for resisting court orders. The US legal system is adversarial and Circle is 100% entitled to resist government requests and to challenge orders. Within the US system. Telling law enforcement to go pound sand after the judge rules is not something Circle is entitled to.

It is certainly possibly Circle views anything that reduce's Circle's interest income as objectionable. There is a logical, if wacky, corporate theory here: "We prefer to hold frozen assets indefinitely to maximize shareholder value. We view this as part of our fiduciary responsibility to shareholders. Victims are not shareholders sorry." Probably no company wants to come out and say that. But it is true that public companies have a responsibility to shareholders and not victims. They also have a responsibility to judges and to shareholders to not egregiously defy judges. So it is all kind of mixed together there.

Now notice the seizure warrant requests Circle is fighting here date back to August 2025. Multiple seizure warrants have been issued. And Circle has been communicating false claims to Wisconsin officials for many months now. Criminal charges were filed in April 2026. Circle moved beyond objecting to an access denial order to simply refusing to follow one after multiple rounds of back and forth. This happened over many months.

We accept it is possible to read these most recent actions as part of resisting the order. And maybe law enforcement jumped the gun with criminal charges. But it is kind of hard to credit Circle here and think ongoing negotiations without criminal charges would go anywhere. Circle has stated clearly that it cannot comply for technical reasons. Circle claims it is impossible to do what the court wants. But those claims are plainly false (or Circle is covering up something worse). For negotiations to go anywhere Circle would need to concede it was wrong or the police would need to stop asking for seizure. That looks like a stalled negotiation to us.

If Wisconsin officials were demanding Circle seize USDT then we would certainly feel for Circle. Circle is not omnipotent. There are plenty of web3 things Circle cannot do. And, obviously, it is possible for law enforcement to order someone to do something that is technically impossible for them to do. This is true of anyone and any law enforcement unit anywhere in the world. Try this one: a court could issue an order for a witness to not die before a trial. That would not have the effect of conveying immortality on the witness. Law enforcement can be wrong. But here, today, Circle is wrong.

The court wants Circle to do something that Circle can do. So we are going to make two predictions. First, Circle will eventually comply. And second, Circle will blame confusion between the legal and engineering teams for the false statements. The court should not accept that explanation. We kind of hope Circle tries the shareholder value line too. If someone says "victims are not shareholders and our fiduciary responsibility is to shareholders" that will just be too amazing for words. As odd as that outcome seems remember a listed US company is currently engaged in a dispute with law enforcement in Wisconsin in which the listed US company is just straight-up lying. This is all incredibly odd.

We have long predicted the lawyers would need to throw the engineers under the bus at some point. Honk honk.

Licensed to Shill: Retail Barely Touches Stablecoins – Treasury & Remittance Are the Real Adoption (Jeannie Lim, Xweave)

At Xweave, Jeannie Lim says her team moved $1 million for an e-commerce client in under three minutes, cutting settlement costs 30% against a Tier 2 bank’s SWIFT rate.

BlockheadBlockhead

Samsung just made stablecoins a default feature of its mobile wallet. At Galaxy Unpacked 2026 on July 22, the company announced that Samsung Wallet will integrate native stablecoin support, with USDC among the expected options. The move effectively puts digital dollars alongside tap-to-pay, boarding passes, and loyalty cards in the pockets of hundreds of millions of Galaxy device owners.

What Samsung actually announced The stablecoin integration was revealed as part of a broader push to make Samsung Wallet a unified hub for payments, rewards, and digital assets. Samsung framed it as a “secured payments and rewards experience.”

The company hasn’t confirmed a specific launch date for the stablecoin feature. It also hasn’t officially locked in which stablecoins will be supported beyond the strong signals pointing toward USDC, Circle’s regulated dollar-pegged token.

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The announcement didn’t happen in isolation. Samsung simultaneously unveiled the Galaxy Card, a credit card issued by Barclays and running on the Visa network, targeting US users with tiered cash-back rewards.

In 2025, the company partnered with Coinbase to give millions of US Galaxy users access to cryptocurrency services directly through their devices. That collaboration laid the groundwork for what’s coming next, essentially graduating Samsung Wallet from a non-custodial blockchain wallet with basic crypto access into something closer to a full-featured digital asset platform.

What this means for investors For Circle, the company behind USDC, this partnership could strengthen its position ahead of any potential IPO or public market activity.

There are risks worth noting. Regulatory frameworks for stablecoins remain a work in progress in many jurisdictions. Samsung will need to navigate varying compliance requirements across its global markets, which could limit the feature’s availability to certain regions initially. The US market, where the Galaxy Card is launching alongside the Barclays partnership, is the likely first target.

The 2025 Coinbase partnership gave Samsung a foundation in crypto services, but stablecoin integration represents a fundamentally different proposition. Offering users the ability to buy Bitcoin through a partner app is one thing. Embedding dollar-equivalent digital currency into the core wallet experience is another.

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

Key Takeaways Regency Centers is expected to post higher Q2 revenues and FFO per share year over year.REG may benefit from strong leasing, resilient foot traffic and demand for grocery-anchored retail.Regency Centers maintained NOI growth guidance despite expecting softer Q2 same-property NOI growth. Regency Centers Corp. (REG - Free Report) is slated to report second-quarter 2026 results on July 29, after the closing bell. The company’s quarterly results are likely to display year-over-year growth in revenues and funds from operations (FFO) per share.

In the last reported quarter, this Jacksonville, FL-based retail real estate investment trust’s (REIT) NAREIT FFO per share of $1.20 missed the Zacks Consensus Estimate of $1.21. Results reflected a year-over-year improvement in same-property NOI driven by strong leasing.

Over the trailing four quarters, the company’s FFO per share exceeded the Zacks Consensus Estimate on two occasions and met on the other two, with the average beat being 0.69%. This is depicted in the graph below:

In this article, we will dive deep into the U.S. retail real estate market environment and the company's fundamentals and analyze the factors that may have contributed to its second-quarter 2026 performance.

US Retail Real Estate Market in Q2The second-quarter 2026 U.S. retail market showed signs of stabilization, as shopping-center demand returned to positive territory and vacancy remained near historically low levels. Limited new construction continued to support rent growth, while resilient consumer spending favored grocery, discount and other value-oriented retailers. However, uneven regional trends and rising pressure on lower- and middle-income households kept the operating backdrop mixed.

Per the Cushman & Wakefield report, net absorption reached 708,000 square feet, while national vacancy remained broadly stable at 6%, up only 3 basis points sequentially and still below the historical average of 7.4%. Limited construction continued to support market fundamentals, with just 2.3 million square feet delivered during the quarter and the development pipeline accounting for less than 0.3% of existing inventory.

Asking rents increased 2.2% year over year to $25.65 per square foot, supported by tight availability and muted new supply. The West led demand growth with 1.3 million square feet of positive absorption and was the only region to record a decline in vacancy. In contrast, the South posted a slight rise in vacancy as earlier population growth encouraged new development, creating temporary lease-up pressure in markets such as Atlanta, Houston, Washington and Dallas-Fort Worth. Even so, rents in the South advanced 3.3% year over year, the strongest growth among all regions.

Consumer spending remained resilient despite higher energy costs. Retail sales rose 6.9% year over year, or 5.4% excluding gasoline stations, while unemployment stayed low at 4.2%. However, inflation outpaced wage growth in April and May, increasing pressure on lower- and middle-income households. This widening spending divide is likely to favor grocery, discount, value and health-and-wellness retailers over discretionary categories.

Factors at Play for RegencyConsidering the above scenario, Regency Centers’ second-quarter 2026 performance is likely to have benefited from its grocery-anchored portfolio, resilient foot traffic and strong tenant demand. First-quarter foot traffic rose 2.3% and accelerated to 3% in April, while bad debt remained near record lows. Demand from grocers, restaurants, health and wellness concepts, and off-price retailers is likely to have supported occupancy, rents and leasing spreads.

Regency’s more than $600 million development and redevelopment pipeline, carrying blended returns above 9%, may have boosted total NOI growth. The company maintained full-year same-property NOI growth guidance of 3.25%-3.75% and total NOI growth above 6%, backed by project deliveries, prior acquisitions and a strong balance sheet. However, management expected second-quarter same-property NOI growth to fall below the full-year range because of a tougher expense comparison.

The Zacks Consensus Estimate for REG’s second-quarter revenues is pegged at $404.99 million, indicating a 6.3% increase from the year-ago quarter.

The company’s activities during the to-be-reported quarter were inadequate to garner analysts’ confidence. The consensus mark for quarterly FFO per share has remained unchanged at $1.20 over the past three months. The figure implies growth of 3.45% from the prior-year quarter’s reported number.

What Our Quantitative Model Predicts for RegencyOur proven model predicts a surprise in terms of FFO per share for Regency this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is the case here.

Regency currently carries a Zacks Rank of 3 and has an Earnings ESP of +0.68%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Other Stocks That Warrant a LookHere are two other stocks from the retail REIT sector — Kimco Realty (KIM - Free Report) and Simon Property Group (SPG - Free Report) — that you may want to consider, as our model shows that these also have the right combination of elements to report a surprise this quarter.

Kimco Realty, slated to release quarterly numbers on Aug. 4, has an Earnings ESP of +0.63% and carries a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Simon Property Group, scheduled to report quarterly numbers on Aug. 10, has an Earnings ESP of +1.21% and carries a Zacks Rank of 3 at present.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

Key Takeaways Cencora is positioned for growth on U.S. healthcare strength, specialty expansion and product launches.COR is integrating OneOncology and RCA to build a scalable specialty care ecosystem across key therapies.Cencora faces pricing headwinds, higher interest expense and regulatory risks despite logistics gains. Cencora (COR - Free Report) is well-poised for growth on the back of a robust U.S. Healthcare Solutions business and product launches. However, intense competition is a concern.

This Zacks Rank #2 (Buy) company’s shares have lost 9.7% in the year-to-date period compared with the industry’s 1.8% drop. However, the S&P 500 Index has gained 7.4% in the same time frame.

Cencora is one of the world’s largest pharmaceutical service companies. It is focused on providing drug distribution and related services to reduce healthcare costs and improve patient outcomes. The company has a market capitalization of $58.48 billion.

COR’s bottom line is anticipated to improve 10.1% over the next five years. Its earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 1.6%.

Image Source: Zacks Investment Research

Let’s delve deeper.

Positive Factors Driving COR’s ProspectsSpecialty Expansion and MSO Strategy Support Long-Term Growth: Cencora continues to strengthen its position in specialty pharmaceuticals, a market expected to account for more than half of U.S. drug spending in the coming years. During the second-quarter earnings call, management highlighted progress in integrating OneOncology, acquired in February 2026, with Retina Consultants of America (RCA). Management is leveraging both platforms by sharing capabilities in clinical research, trial support and back-office services, creating a scalable specialty care ecosystem. These investments complement Cencora's broader strategy of deepening manufacturer partnerships while expanding services to community providers, positioning the company to benefit from growing demand for oncology, retina and other specialty therapies.

Pharmaceutical Supply Chain Leadership and Expanding Market Opportunity: Cencora's pharmaceutical-centric strategy remains a competitive advantage. The company continues investing in automated fulfillment centers, digital infrastructure and AI-supported tools that improve inventory management, customer visibility and operational efficiency across the pharmaceutical supply chain. These capabilities reinforce Cencora's role as a critical partner for manufacturers and healthcare providers while supporting long-term customer relationships.

The long-term demand backdrop also remains favorable. Industry forecasts project U.S. pharmaceutical spending to grow at an 8.2% CAGR through 2028, supported by rising prescription volumes, specialty therapies and broader patient access. Cencora is well positioned to benefit from sustained GLP-1 utilization, which contributed nearly $1.9 billion of year-over-year sales growth during the quarter despite moderating growth expectations.

International Business and Specialty Logistics Continue to Improve: Cencora's International Healthcare Solutions segment remained another bright spot. International revenues increased 13% year over year, while operating income rose 13.7%, driven by strong European distribution performance and a second consecutive quarter of operating income growth in global specialty logistics. Management highlighted new contract wins in cell and gene therapies, laboratory logistics and continued momentum at World Courier, reflecting improving execution in complex pharmaceutical logistics.

Key Challenges for COR StockRevenue Mix and Pricing Headwinds Could Pressure Reported Growth: Although prescription demand remains healthy, several factors continue to weigh on reported revenue growth. During the second quarter, manufacturer list price reductions created a roughly $2 billion revenue headwind, while faster-than-expected brand conversions at a large mail-order customer and slower GLP-1 growth prompted management to lower full-year revenue guidance. While these factors have a limited effect on operating income because they primarily involve lower-margin products, they can create volatility in reported sales growth and investor sentiment.

Higher Debt and Ongoing Regulatory Risks Remain Watch Points: The OneOncology acquisition has strengthened Cencora's specialty platform but also increased leverage. Net interest expense rose following the acquisition, and management expects approximately $485 million of interest expense in fiscal 2026 despite continued debt repayment efforts.

Beyond leverage, Cencora operates in a highly regulated pharmaceutical distribution environment. Ongoing opioid-related litigation exposure, controlled-substance monitoring requirements and evolving healthcare reimbursement policies could increase compliance costs or create operational challenges, even as the company continues investing in supply-chain integrity and regulatory compliance.

Estimate TrendCOR has been witnessing a stable estimate revision trend for fiscal 2026. In the past 30 days, the Zacks Consensus Estimate for earnings has remained stable at $17.79 per share.

The consensus mark for third-quarter fiscal 2026 revenues is pegged at $84.89 billion, indicating a 5.2% improvement from the year-ago reported actuals. The bottom-line estimate is pinned at $4.37, implying year-over-year growth of 9.2%.

Other Stocks to ConsiderSome other top-ranked stocks from the broader medical space are West Pharmaceutical (WST - Free Report) , Cardinal Health (CAH - Free Report) and McKesson (MCK - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

West Pharmaceutical has an estimated long-term earnings growth rate of 14.4%. WST’s earnings surpassed estimates in the trailing four quarters, the average surprise being 19.4%.

West Pharmaceutical’s shares have gained 29.2% against the industry’s 1.6% decline in the year-to-date period.

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

Cardinal Health’s shares have risen 9.9% against the industry’s 1.6% decline in the year-to-date period.

McKesson has a long-term estimated growth rate of 13.7%. MCK’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 3.1%.

McKesson’s shares have edged up 0.5% against the industry’s 1.6% decline in the year-to-date period.

Key Takeaways Revvity is developing T-SPOT A201 for high-volume latent TB testing, targeting a late-2027 launch.The platform can process up to 384 samples in eight hours with 45 seconds of hands-on time per sample.RVTY shares rose 2.4% after the announcement and gained 16.9% year to date, beating key benchmarks. Revvity, Inc. (RVTY - Free Report) recently announced the development of the T-SPOT A201, a next-generation high-throughput automated platform designed to support large-volume clinical laboratories performing latent tuberculosis (TB) testing. Targeted for launch in the second half of 2027, the platform is engineered to deliver the performance advantages of the T-SPOT.TB assay while enabling greater workflow efficiency and scalability for high-throughput testing environments.

Per management, the T-SPOT A201 automation platform marks a significant advancement in expanding access to the benefits of T-SPOT.TB testing for high-volume laboratories. The company believes the solution will provide the performance, workflow efficiency and competitive economics needed by high-volume clinical labs, reinforcing its commitment to delivering scalable automation technologies for infectious disease diagnostics.

Likely Trend of RVTY Stock Following the NewsFollowing the announcement, RVTY shares gained 2.4% at yesterday’s close. Year to date, the stock rose 16.9%, outperforming the industry’s 1.8% decline and the S&P 500’s 7.4% gain.

The development of the T-SPOT A201 platform is expected to strengthen Revvity’s infectious disease diagnostics and laboratory automation portfolio. By addressing the growing need for high-throughput latent TB testing, the company can enhance its position among large clinical laboratories while expanding opportunities within public health and diagnostic markets. Upon successful commercialization, the platform could drive broader adoption of Revvity’s automation solutions, support long-term customer relationships and contribute to sustained revenue growth.

RVTY currently has a market capitalization of $12.33 billion.

Image Source: Zacks Investment Research

More on the NewsThe T-SPOT A201 expands Revvity’s portfolio of automation solutions that simplify the T-SPOT.TB workflow without compromising clinical performance. The company already offers the FDA-approved and CE-IVD-marked Auto-Pure 2400 liquid handler for laboratories with lower testing volumes. Designed to process up to 24 samples per run, the Auto-Pure 2400 completes first-day T-SPOT.TB workflows in less than 3.5 hours with minimal user interaction while delivering low indeterminate results, high sensitivity and specificity, extended sample stability and efficient sample handling. These capabilities enable laboratories of different sizes to improve workflow efficiency while maintaining confidence in latent TB test results.

Built on the success of the Auto-Pure 2400 liquid handling platform, the T-SPOT A201 is designed to process up to 384 samples per instrument during an eight-hour shift while requiring only 45 seconds of hands-on time per sample. The platform is expected to help laboratories manage rising testing volumes driven by immigration screening, pre-treatment evaluations for immunosuppressive therapies and broader public health initiatives, while supporting timely and accurate latent TB detection.

Industry Prospects Favoring the MarketGoing by the data provided by Precedence Research, the U.S. tuberculosis diagnostics market is predicted to be valued at $607.5 million in 2026 and is expected to witness a CAGR of 5.3% through 2035.

Factors like the increasing adoption of rapid molecular and nucleic acid amplification tests, growing focus on detection of latent and drug-resistant tuberculosis, rising emphasis on automation, digital reporting and laboratory workflow efficiency and continued reliance on government funding and public health laboratory networks for TB testing programs are boosting the market’s growth.

Other NewsRevvity recently announced the launch of Signals for Startups, a new program to help early-stage biotechnology companies establish scalable digital informatics capabilities from the earliest stages of research. It is scheduled to launch across the United States, Europe, the Middle East and the Africa region in late July 2026.

Revvity announced that its Signals Software business has been added to Anthropic’s directory for Model Context Protocol connectors, extending the capabilities of Signals AI beyond the Signals One platform. Through the integration, scientists can access Signals AI and connected R&D knowledge using Claude, including Claude Science, Anthropic’s AI workbench for scientific research.

RVTY’s Zacks Rank & Key PicksRevvity currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks from the broader medical space are West Pharmaceutical (WST - Free Report) , McKesson (MCK - Free Report) and Cardinal Health (CAH - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

West Pharmaceutical reported second-quarter 2026 adjusted earnings per share (EPS) of $2.37, which beat the Zacks Consensus Estimate by 13.9%. Revenues of $872.3 million surpassed the Zacks Consensus Estimate by 4.2%.

West Pharmaceutical has an estimated long-term earnings growth rate of 14.4%. WST’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.4%.

McKesson reported a fourth-quarter fiscal 2026 adjusted EPS of $11.69, which beat the Zacks Consensus Estimate by 1.1%. Revenues of $96.3 billion missed the Zacks Consensus Estimate by 5.5%.

McKesson has an estimated long-term earnings growth rate of 13.7%. MCK’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.1%.

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

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

MarketBeat’s Top-Rated Dividend Stocks for 2026Glacier Bancorp NYSE: GBCI reported second-quarter net income of $97.9 million, up 19% from the prior quarter and 85% from a year earlier, as net interest income and margin expansion supported earnings growth.

Diluted earnings per share totaled $0.75, increasing 19% sequentially and 67% year over year. President and CEO Randall Chesler said the company’s tax-equivalent net interest margin expanded to 3.90%, up 10 basis points from the first quarter and 69 basis points from the second quarter of 2025.

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Net interest income rose 3% from the first quarter and 33% from the prior-year period to $276 million. Pretax, pre-provision net revenue was $130.8 million, rising 23% sequentially and 53% year over year.

Funding Costs Decline, Deposit Base Remains Stable Glacier’s total cost of funding declined to 1.33%, down 7 basis points from the first quarter and 30 basis points from a year ago. Core deposit costs, including noninterest-bearing deposits, were 1.18%, down 2 basis points sequentially. Noninterest-bearing deposits represented 30% of total deposits, unchanged from both the preceding quarter and the year-earlier period.

Treasurer Byron Pollan said the June 30 deposit cost was also 1.18% and said deposit costs should remain stable if the Federal Reserve holds interest rates steady.

“I think competition is strong. It always is. It’s rational,” Pollan said in response to a question about deposit competition. Chesler added that Glacier’s footprint is about 75% rural and 25% urban, and said the company’s emphasis on core customer relationships contributes to its lower-cost funding profile.

Average deposits were $24.5 billion during the second quarter, up $112 million from the first quarter on a 2% annualized basis. Period-end deposits were $24.7 billion, down slightly from the prior quarter. Chesler said deposit levels remained stable and continued to support the company’s liquidity and funding strategy.

Loan Growth Broad-Based Across Operating Regions Loans ended the quarter at $21.4 billion, increasing $330 million from the first quarter, or 6% on an annualized basis. Chesler described growth as broad-based and attributed it to disciplined production in attractive markets.

The company operates across Southwest and Mountain West regions. Chesler said the Southwest continued to perform well and was rebuilding its pipeline after a strong first quarter, while the Mountain West posted a strong second quarter.

Chief Credit Administrator Tom Dolan said the second and third quarters have generally been the company’s stronger seasonal lending periods. He said loan pipelines remained healthy, with continued pull-through and back-build activity, as well as tailwinds from construction draws and the agricultural growth season.

Glacier continued to generate new loan production yields above 6.5% during the quarter, Dolan said. He characterized pricing as the primary competitive factor, particularly in larger metropolitan markets, while saying the company had not observed substantial competitive pressure on underwriting discipline or loan structure.

Margin Expected to Reach 4% in Fourth Quarter Pollan said Glacier expects its net interest margin to continue expanding and anticipates reaching a 4% margin level early in the fourth quarter of 2026. He said the company expects to exit 2026 with a margin above 4%.

He noted that certain second-quarter headwinds, including nonaccrual interest reversals and lower accretion, appeared elevated and were not expected to persist at the same level. Pollan said the level of discount accretion reported in the second quarter was likely a more normal assumption going forward.

Over the longer term, Pollan said he views Glacier’s margin as potentially ranging between 4% and 4.5%, its more historical norm. He said a steeper yield curve and continued meaningful loan growth could help move the margin toward the upper end of that range, and he expects margin expansion to continue through 2027.

The company also resumed some investment securities purchases during the quarter, buying approximately $250 million of bonds. Pollan said Glacier expects to continue putting cash to work and anticipates average earning assets will increase in the third and fourth quarters following the completion of Federal Home Loan Bank advance paydowns.

Credit Remains Stable; Expense Guidance Unchanged Chesler said credit quality remained excellent. Early-stage delinquencies declined from the first quarter, while nonperforming assets increased modestly but remained low relative to subsidiary assets. The allowance for credit losses stood at 1.22% of total loans.

Dolan said credit trends were stable overall, with no particular industry, geography or asset class showing outsized risk. He said the company continues to monitor its agricultural portfolio, though 2025 performed better than anticipated and 2026 has started well.

Acquisition-related expenses declined meaningfully during the quarter, helping improve Glacier’s operating efficiency ratio to 56.21% from 63.05% in the first quarter. Chief Financial Officer Ron Copher maintained quarterly expense guidance of $187 million to $192 million for the second half, noting that some discretionary spending could return.

For the first half of 2026, Glacier reported net income of $180 million, up 68% from the prior-year first half, while diluted earnings per share increased 48% to $1.38. The board declared a quarterly dividend of $0.33 per share, marking the company’s 165th consecutive quarterly dividend, according to Chesler.

On capital management, Pollan said the company’s capital position was strong and would continue to grow with earnings. He said management was evaluating its outlook for capital accumulation and retained flexibility regarding potential capital-return options.

About Glacier Bancorp (NYSE:GBCI)Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.

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

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Wall Street expects a year-over-year increase in earnings on higher revenues when Imperial Oil (IMO - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 31. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis oil and gas and petroleum products company is expected to post quarterly earnings of $2.99 per share in its upcoming report, which represents a year-over-year change of +123.1%.

Revenues are expected to be $11.86 billion, up 46.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 12.83% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Imperial Oil?For Imperial Oil, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Imperial Oil will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Imperial Oil would post earnings of $1.67 per share when it actually produced earnings of $1.41, delivering a surprise of -15.57%.

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

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Imperial Oil doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAmong the stocks in the Zacks Oil and Gas - Integrated - Canadian industry, Cenovus Energy (CVE - Free Report) , is soon expected to post earnings of $1.11 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +236.4%. This quarter's revenue is expected to be $9.57 billion, up 7.4% from the year-ago quarter.

The consensus EPS estimate for Cenovus has been revised 29.3% lower over the last 30 days to the current level. However, an equal Most Accurate Estimate has resulted in an Earnings ESP of 0.00%.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Cenovus will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Morgan Stanley has gained approval to list and trade its Ethereum and Solana ETFs on NYSE Arca as the issuer submitted 8-A and other filings with the US SEC. The Wall Street giant could soon launch its spot Ethereum and Solana ETFs.

Morgan Stanley Ethereum ETF Gains Approval According to the latest SEC filing, Morgan Stanley has gained approval to list shares of its spot Ethereum ETF from NYSE Arca. The ETF will list and trade on NYSE Arca under the ticker symbol MSSE.

Morgan Stanley has also filed 424B3, with no details on the fee waiver. The filing has become auto-effective pursuant to Section 12(b) of the Exchange Act, pending CERT filing for details on the trading date.

As CoinGape earlier reported, Morgan Stanley updated delegated sponsor, Coinbase Prime, Coinbase custodial and trade finance agreements. The latest amendment indicates the Morgan Stanley Ethereum ETF could become effective soon.

The spot Ethereum ETF will levy a sponsor fee of 0.14%. Also, it plans to stake 50-80% of holdings via providers such as Figment, Galaxy Blockchain, and Coinbase Canada. Notably, staking services providers and custodians are to receive only 5% of the staking rewards.

Morgan Stanley Investment Management, the delegated sponsor, said it will not receive or retain the remaining staking rewards, resulting in higher earnings for investors.

Moreover, The Bank of New York Mellon and Coinbase Custody will serve as custodians for the Morgan Stanley Ethereum ETF.

NYSE Arca Approves Wall Street Giant’s Solana ETF Listing Morgan Stanley also filed 8-A and 424B3 with the US SEC for its spot Solana ETF. NYSE Arca has also approved Morgan Stanley Solana ETF to list and trade under the ticker MSOL.

Notably, the approval comes as $10 trillion Morgan Stanley’s brokerage firm E*TRADE completed the rollout of spot Bitcoin, Ethereum, and Solana trading. Clients can buy, sell, and hold crypto in a linked Zerohash account.

Morgan Stanley Solana ETF will have a 0.14% management fee. Also, the issuer plans to stake up to 100% of SOL holdings through Figment, Galaxy Blockchain, and Coinbase Canada.

The staking rewards distribution mechanism for staking service providers, custodians, and investors is the same as in the Morgan Stanley Ethereum ETF. Cash custodians, crypto custodians, administrator, transfer agent, and marketing agent are similar to those of its Morgan Stanley Bitcoin ETF.

The MSBT holds over $391 million in total assets, with BTC holdings worth over $396 million. MSBT saw $5 million in inflows in the latest session, while spot Bitcoin ETFs recorded $255.18 million in outflows.

While Morgan Stanley plans to capture passive yields internally for its ETF, retail investors looking for direct control over their assets can explore the best crypto staking platforms to earn competitive APYs on their Ethereum and Solana holdings.

@Circle has minted another $250 million $USDC on the @Solana blockchain, marking its fourth major issuance event within a 48-hour window. The move pushed the total circulating supply of USDC to a record $72.01 billion, underscoring relentless institutional demand for on-chain dollar liquidity.

Rapid Minting Reflects Rising On-Chain Demand The speed of the minting cycle is notable. Four large issuances in under two days signals that Circle is responding in near real-time to demand from market makers, trading venues, and DeFi protocols operating on Solana. Traders use USDC as collateral, as a settlement asset, and as a quick way to move between volatile positions without leaving the chain. When more USDC is minted onto Solana, it usually points to demand for on-chain dollar liquidity, which can come from market makers, DeFi protocols, retail traders, or institutions routing activity through Solana-based venues.

Large stablecoin mints typically provide fresh liquidity that can be deployed across decentralized exchanges, lending protocols, automated market makers, and yield-generating applications. As newly minted USDC enters circulation, DeFi platforms can absorb the additional capital to facilitate larger trading volumes and improve market efficiency.

USDC Cements Its Role as a Core Settlement Layer The pace of issuance sits within a broader trend of USDC dominance in 2026. Adjusted stablecoin transaction volume hit a record $1.79 trillion in June 2026, with Circle's USDC capturing 67% of activity at $1.21 trillion. That momentum has been driven in part by regulatory clarity in the United States and growing institutional use of USDC for payments and settlement.

USDC supply surged 220% since late 2023 to approximately $78 billion, driven by institutional B2B settlement, payroll infrastructure, and programmatic payment rails built by Visa and Stripe. The repeated minting cycles on Solana reflect that growth and reinforce the stablecoin's position as a primary collateral layer for on-chain finance.

Blockchain analysts note that gross issuance does not represent the network's live circulating supply, since USDC can later be redeemed, burned, or bridged to other blockchains. Even so, the frequency and scale of Circle's recent mints point to sustained, real demand rather than a one-off capital event.

Sources:
Crypto Briefing: Circle's USDC drives record stablecoin transaction volume in June 2026
CoinTrust: Circle Mints $250M USDC on Solana as 2026 Supply Nears $65B
CoinMarketCap Academy: $315B Stablecoin Supply Hits Record as USDC Gains

Activity on Shibarium, Shiba Inu’s official Layer-2 blockchain, surged sharply over the past day, but SHIB’s price has yet to respond.

According to the latest data from Shibariumscan, Shibarium processed 1,180 daily transactions yesterday. This marks a notable recovery from 661 transactions recorded on July 21, the second-lowest daily transaction count for July.

As a result, daily transactions climbed 78.51% within just a few days, signaling renewed activity on the network after a period of sluggish usage.

Although the latest transaction count remains far below the millions of daily transactions Shibarium recorded during its peak periods, many market observers view the rebound as an encouraging sign.

The increase comes at a time when investors continue to search for a bullish catalyst capable of reversing SHIB’s prolonged price weakness. Even a modest improvement in network activity has sparked optimism that user engagement on Shibarium could gradually recover if the trend continues. 

Shibarium Transaction Activity SHIB Price Fails to Respond to Network Improvement Despite the jump in Shibarium transactions, Shiba Inu has not benefited from the renewed activity on the blockchain.

The broader cryptocurrency market experienced another sharp sell-off yesterday, dragging down several major assets, including SHIB. The token fell from an intraday high of $0.000004243 to a low of $0.000004102 before recovering slightly.

At press time, SHIB is trading at $0.000004189. Even with the rebound, the token remains down 1.28% over the past 24 hours, 8.21% over the past week, and 0.34% month-to-date.

Ecosystem Challenges Continue to Weigh on Sentiment Meanwhile, the Shiba Inu ecosystem continues to face several challenges that have dampened investor confidence.

The ongoing bearish market has produced few positive developments for the project. Community members have also expressed concerns over the disappearance of several key team members from X, multiple ecosystem initiatives that remain unfinished, and persistently low SHIB burn activity.

Against this backdrop, Shibarium’s recent transaction rebound has fueled speculation that long-awaited positive catalysts could finally be emerging. However, the increase in network activity alone has not been enough to translate into higher SHIB prices.

Over 113B Shiba Inu Tokens Leave Exchange Despite the weak price performance, investors continue to move SHIB off centralized exchanges.

Notably, more than 113 billion SHIB tokens have recently been withdrawn from exchanges, reducing the total exchange reserve to approximately 86.13 trillion SHIB.

Large exchange outflows are often interpreted as a sign that investors are transferring tokens into private wallets for longer-term holding rather than preparing to sell. While this trend has yet to trigger a price recovery, it suggests that some market participants remain confident in SHIB’s longer-term prospects even as the token continues to trade under bearish pressure.

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

Aggregate cash and cash equivalents and short-term investments were $690.7 million.

Company Raises Capital But Says More Funding Will Be NeededDuring the second quarter of 2026, the company raised $230.8 million in gross proceeds through its ATM facility. Subsequent to June 2026, the company raised an additional $68.4 million in gross proceeds through its ATM facility.

In its SEC quarterly filing, the cancer drug developer reported that it has an accumulated deficit of $2,699.3 million, and expects to continue to generate operating losses for the foreseeable future.

Cash and cash equivalents and short-term investments are not sufficient to fund the company’s planned operations for a period of at least one year.

Going Concern Warning Highlights Future Cash RequirementsSummit said it continues to evaluate options to finance operating cash needs for product candidates further.

The company said that if it is unable to obtain funding when required in the future, it could be required to delay or reduce research and development programs, product portfolio expansion, or future commercialization efforts.

These conditions raise substantial doubt about the ability to continue as a going concern.

Ridinilazole Sale Adds Potential PaymentsEarlier in July, Summit Therapeutics agreed to sell ridinilazole, an investigational Phase 3 precision antibiotic, to Toronto-based Biossil, Inc.

Summit will receive $500,000 upfront and up to $104.5 million in regulatory and commercial milestones, plus tiered royalties on net sales.

SMMT Price Action: Summit Therapeutics shares were down 6.78% at $13.96 at the time of publication on Friday, according to Benzinga Pro data.

Photo by Piotr Swat via Shutterstock

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Key Takeaways Seagate expects Q4 revenue of about $3.45B and non-GAAP EPS of about $5.00 per share.STX is benefiting from AI, cloud and data center demand, with HAMR and Mozaic driving growth.Seagate sees strong momentum from pricing, margins and free cash flow despite competitive and cyclical risks. Seagate Technology Holdings plc (STX - Free Report) is scheduled to report fourth-quarter fiscal 2026 earnings on July 28, after the closing bell.

The Zacks Consensus Estimate for earnings is pegged at $5.10 per share, indicating a 96.9% year-over-year increase. The Zacks Consensus Estimate for revenues is $3.5 billion, suggesting a 43% uptick from the year-ago actual.

For the fiscal fourth quarter, STX expects revenues of $3.45 billion (+/- $100 million). At the midpoint, this indicates a 41% year-over-year improvement. Non-GAAP earnings are expected to be $5.00 per share (+/- 20 cents). 

STX’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 10.7%.

Image Source: Zacks Investment Research

What the Zacks Model Predicts for STXOur proven model predicts an earnings beat for Seagate this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is exactly the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Seagate has an Earnings ESP of +1.75% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Key Factors Shaping STX Upcoming Q4 EarningsSeagate’s fiscal fourth-quarter performance is likely to have been cushioned by the explosive growth of AI, cloud computing and enterprise data centers, all of which continue to fuel demand for HDDs. Hyperscalers and cloud providers increasingly rely on Seagate's advanced HDD solutions because they offer the lowest cost per terabyte for massive-scale storage. STX is capitalizing on this opportunity through its HAMR roadmap and areal density strategy, improving cost and power efficiency while targeting mid-20% exabyte growth.

Its 44TB Mozaic 4+ platform is expected to lead HAMR shipments by the end of 2026, while the 50TB Mozaic 5 remains on track for late-2027 qualification. As production scales, Seagate plans to expand HAMR beyond hyperscale customers into enterprise and edge markets, enhancing long-term efficiency and growth. Nearline drives remain Seagate's most profitable business. Enterprise customers continue prioritizing larger-capacity drives that reduce operating costs while maximizing storage density. Demand has consistently exceeded supply over recent quarters, allowing Seagate to maintain healthy pricing.

An encouraging trend over recent quarters has been Seagate's improving profitability. Non-GAAP gross margin hit a record 47%, increasing about 1,080 basis points year over year, driven by favorable product mix and ongoing pricing initiatives in the fiscal third quarter. If revenue again surpasses expectations in the fiscal fourth quarter, margins could surprise positively, leading to stronger earnings growth than revenue alone might suggest. For the fiscal fourth quarter, non-GAAP operating expenses are expected to be around $295 million. At the midpoint of revenue guidance, non-GAAP operating margin is projected to rise into the low 40% range.

Image Source: Zacks Investment Research

STX's optimistic fiscal fourth-quarter outlook highlights increasing business momentum and future opportunities. Management emphasized that the company is entering a “new era of structural growth” fueled by strong AI-driven demand, increased adoption of Mozaic products and disciplined execution focused on expanding margins, cash flow and long-term value. It generates robust free cash flow, which it uses to fund dividends, share buybacks, technology investments and strengthen its balance sheet. Its above-average dividend yield, combined with earnings growth, makes the stock attractive for both income and long-term capital appreciation.

Amid geopolitical tensions, including the Middle East conflict, Seagate does not expect any material impact on its business, supported by proactive supply chain and logistics management. Per management, AI-driven demand for large-scale storage remains strong, with rising exabyte demand, continued Mozaic product qualification and disciplined pricing supporting its growth outlook. Despite the favorable outlook, Seagate is not without risks. It faces risks from a potential slowdown in enterprise IT spending, which could delay storage upgrades despite healthy hyperscale demand. The HDD industry also remains cyclical, with periods of oversupply capable of pressuring pricing and margins.

Additionally, intense competition from Western Digital Corporation (WDC - Free Report) and other storage technology providers could have challenged Seagate's quarterly performance.

STX Stock vs. IndustrySTX stock has gained traction, climbing 505.3% in the past year, exceeding the Zacks Computer-Integrated Systems industry’s, the Zacks Computer & Technology sector and the S&P 500’s growth of 216.4%, 25.6% and 18%, respectively.

Image Source: Zacks Investment Research

The company has also surpassed its industry peers like Agilysys, Inc. (AGYS - Free Report) , which has crashed 18.7% in the past year. Seagate’s shares have, however, trailed past storage rivals Micron Technology (MU - Free Report) and WDC, which soared 790% and 711.2%, respectively.

STX Trades at a PremiumIn terms of forward price/earnings, STX’s shares are trading at 30.56X, higher than the industry’s 13.03X. If earnings continue expanding over the next several quarters, today's valuation could still remain justified.

Image Source: Zacks Investment Research

WDC, MU and AGYS are trading at multiples of 28.42X, 6.64X and 47.92X, respectively.

Is STX Stock a Portfolio Must-Have?Seagate appears well-positioned to deliver another strong quarterly performance. Robust AI-driven storage demand, expanding HAMR adoption, improving margins and disciplined capital allocation all support the possibility of a fiscal fourth-quarter earnings beat. While cyclical risks and enterprise spending fluctuations should not be overlooked, the company's improving competitive position and favorable industry trends suggest that Seagate can continue creating shareholder value over the coming years.

If it delivers another earnings beat while maintaining a strong outlook for fiscal 2027, the stock may remain an attractive long-term investment. For investors seeking diversified exposure to the AI infrastructure trend along with reliable cash flow and dividend income, Seagate deserves serious consideration as a core technology stock.

Apple Inc. stock climbed 3% on Friday, outperforming much of the technology sector even as semiconductor stocks came under pressure.

The gains came after Baird raised its price target on the iPhone maker while maintaining an Outperform rating ahead of the company's upcoming quarterly earnings report.

The broader technology sector was weaker during the session. The Nasdaq Composite fell 0.19%, while shares of Intel, Micron and Advanced Micro Devices declined between 1% and 5%.

Apple's relative strength comes as investors prepare for the company's fiscal third-quarter earnings report, scheduled for July 30, and assess several product and software initiatives expected over the coming months.

William Power, Senior Research Analyst at Baird, raised the price target on Apple to $330 from $310 on Thursday while reiterating its Outperform rating.

The brokerage expects Apple to deliver solid fiscal third-quarter results, supported by continued iPhone demand and stable growth in its services business.

While memory pricing remains a headwind, Baird expects recent price increases to help offset some of that pressure.

The brokerage acknowledged that Apple's valuation appears elevated compared with historical levels but believes several factors continue to support the stock.

Port in the storm (of software and mega-cap tech capex). We expect solid FQ3 results, driven by strong iPhone growth and steady services trends. Memory pricing remains a daunting headwind, though price increases should ease the pressure. Valuation looks rich relative to past trends, suggesting much may be priced in, but we expect the strong free cash flow, upcoming product cycle and early positive comments on Siri AI to support the stock. We also think Street estimates over the NTM are set up well, with potential for further upside.

According to Baird, Apple generated approximately $129 billion in free cash flow over the last twelve months, while an upcoming product cycle and encouraging early commentary surrounding Siri AI could provide additional support for shares.

The firm also believes Wall Street earnings estimates for the next twelve months leave room for further upside.

Apple is scheduled to report earnings on July 30, with options markets implying a potential 3.5% move in the stock following the results.

Beyond earnings, investors are closely watching Apple's upcoming hardware refresh.

The company is preparing to introduce its next-generation M6 processor across its Mac lineup beginning this fall and extending into next year.

The refresh is expected to include updated 14-inch MacBook Pro models and new iMac computers, marking the first refresh for the desktop line in two years.

Apple is also preparing to launch Apple Upgrade, a new device leasing program backed by Klarna. The service is scheduled to become available in the United States on July 28.

Separately, Evercore ISI reiterated its Outperform rating and maintained a $365 price target following news of the Apple Upgrade program.

The investment firm also maintained its bullish stance after reports that Apple is engaged in settlement discussions with the US Department of Justice over an antitrust lawsuit filed in March 2024.

Apple is also expanding its presence in the automotive software market.

The company announced that Ford will become the first automaker to adopt its new MapKit for Automotive software development kit.

The technology will be integrated into dashboards across Ford's forthcoming electric vehicle platform and will also provide road data for the automaker's BlueCruise hands-free driving system.

The announcement marks a deeper expansion into vehicle software following Apple's decision two years ago to end its own electric vehicle project.

Unlike CarPlay, which primarily provides infotainment services, the new automotive software integrates Apple's mapping technology more directly into vehicle systems.

With earnings approaching, new hardware launches on the horizon and continued expansion into automotive software, investors will be closely watching whether Apple can sustain its recent outperformance amid broader volatility across the technology sector.

Key Takeaways Alphabet leads search with 91.27% share as AI Overviews and AI Mode deepen user engagement.Google Search & Other revenues rose 17% to $63.3B, helped by retail, finance and better query monetization.AI Mode connects Instacart, Canva and YouTube Music, letting users complete tasks without leaving Search. Alphabet’s (GOOGL - Free Report) Search-related endeavors have received a massive push through AI integrations. The company is leading the search domain with 91.27% market share, followed by Microsoft’s (MSFT - Free Report) Bing, with 4.68% share, Yahoo!’s 1.28%, Yandex’s 0.79%, DuckDuckGo’s 0.67% and Baidu’s (BIDU - Free Report) 0.46%, per the latest data from StatCounter.

Alphabet’s dominance is being reinforced by rapid AI innovation rather than disrupted by it. On the second-quarter 2026 earnings call, the company highlighted that AI Overviews and AI Mode have been integrated into a single seamless Search experience, helping drive higher user engagement and incremental search queries. AI Mode has already surpassed one billion monthly active users, while Google continues to send billions of clicks to websites every week through its AI-powered search features, addressing concerns that AI could reduce web traffic.

Search monetization also remains strong. Google Search & Other revenues climbed 17% year over year to $63.3 billion, driven primarily by retail and finance advertisers. Alphabet noted that Gemini-powered improvements in query understanding allow Google to better monetize longer, more complex searches by delivering more relevant advertisements. AI-powered advertising products such as AI Max are already being widely adopted, with advertisers using these tools seeing higher conversions at similar returns on ad spend.

Alphabet is also expanding Search beyond traditional web queries into an AI-powered productivity platform. The company recently introduced integrations that allow users to connect services such as Instacart, Canva and YouTube Music directly within AI Mode, enabling actions like creating shopping carts, generating design templates and building playlists without leaving Search. These capabilities deepen user engagement while making Google’s ecosystem more valuable and difficult for competitors to replicate.

GOOGL Faces Tough Competition in the Search DomainAlphabet faces competition from Microsoft and Baidu in the Search domain.

Microsoft is strengthening its search ecosystem through Bing and Edge by embedding advanced AI capabilities across its consumer products. Microsoft is also integrating proprietary AI models into Bing, improving image generation, speech recognition and search experiences while benefiting from broader investments in Copilot, Azure AI and its multi-model strategy. These enhancements are designed to increase user engagement, improve search relevance and capture a larger share of digital advertising, creating a stronger competitive challenge for Google in AI-powered search.

Baidu is also accelerating its AI-first search strategy, particularly in China. The company has highlighted continued improvements in AI Search through enhanced planning, content generation and content-quality evaluation, enabling more intelligent and higher-quality search results while reducing low-quality content. Baidu plans to further integrate AI Search with ERNIE Assistant to improve information discovery, content understanding and task completion. The company has also reiterated that AI Search remains one of its highest-priority applications and will continue to receive investments to strengthen search accuracy and user experience.

GOOGL’s Share Price Performance, Valuation & EstimatesAlphabet shares have returned 1.5% year to date (YTD), outperforming the broader Zacks Computer and Technology sector’s return of 10.8%.

GOOGL Stock’s Price Performance
Image Source: Zacks Investment Research

GOOGL stock is trading at a premium, with a forward 12-month price/sales of 8.07X compared with the broader sector’s 6.46X. Alphabet has a Value Score of D.

GOOGL Valuation
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for 2026 earnings is pegged at $14.34 per share, up 0.3% over the past 30 days, suggesting 32.65% growth from 2025’s reported figure.
 

Alphabet currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Nvidia, Microsoft, Meta, Palantir and more than 20 other companies released a letter on Friday urging policymakers to avoid "premature restrictions" on open-weight artificial intelligence models that would "stifle competition or drive innovation overseas."

Open-weight AI models are available for users to download, modify and run on their own infrastructure, and they have been the subject of fierce debate within the tech sector in recent weeks.

Chinese open-weight models are gaining steam against leading offerings from American companies like OpenAI and Anthropic, which primarily develop proprietary, closed models. Officials and executives have been weighing whether or not to restrict access to Chinese models in the U.S.

Moonshot AI, a Chinese startup, amplified concerns earlier this month after releasing a model called Kimi K3 that outperforms cutting-edge American offerings across some industry benchmarks. U.S. Treasury Secretary Scott Bessent told CNBC on Tuesday that the Trump administration would look into whether Chinese companies were stealing American intellectual property, and stated that the government has "the ability to sanction them because of this theft."

But in the letter on Friday, the group of U.S. tech companies cautioned against any rash actions. They wrote that open-weight models strengthen competition and ensure that the benefits of the technology are "broadly shared rather than concentrated in a few hands."

"Relying solely on closed models is not inherently safe: they can be breached, misused, or fail in ways that outsiders cannot detect," the letter said. "And concentrating advanced AI capabilities behind a small number of closed models compounds that risk."

Nvidia CEO Jensen Huang and Microsoft CEO Satya Nadella both shared the letter on their personal social media accounts.

Elon Musk, who runs an AI business under his rocket company SpaceX, also applified the letter on social media, writing that it has his "full support" in a post on X. SpaceX did not officially sign the letter.

Read more CNBC tech newsMoonshot AI accessed Nvidia's chips despite Chinese export ban, White House official saysAlphabet and Tesla test Wall Street's patience as AI spending overshadows growthAlphabet earnings takeaways: Q2 revenue beats, GOOGL stock sinks on 2026 capex hikeTesla misses on earnings, as free cash flow turns negative and margins slideOpenAI and Anthropic did not sign the letter. Both companies, which are each valued at nearly $1 trillion, are gearing up for potentially massive IPOs that could land as soon as this year. Anthropic confidentially filed its prospectus with the Securities and Exchange Commission in June, and OpenAI followed suit days later.

Greg Brockman, OpenAI's president, said Thursday that the company believes in broad access, and that he has not been involved in any conversations with the Trump administration about potentially banning Chinese open-weight models in the U.S.

"I think that, that fundamentally, AI and AI usage is something that is actually very important to democratize," Brockman told reporters during a briefing in New York City. "And so, for me, at a sort of deep level, I think that having more models, more usage, that is a good thing."

White House advisor Michael Kratsios on Wednesday said that Moonshot AI developed its Kimi K3 model by distilling Anthropic's technology. Distillation is a term for an AI training method where a smaller, less capable model is built using outputs from an existing, stronger model.

Kratsios wrote in a post on X that legitimate AI distillation plays a vital role in the open innovation ecosystem, but warned that "large-scale, covert industrial distillation aimed at stealing proprietary U.S. technology" is "unacceptable."

In the letter on Friday, the U.S. tech companies said that concerns about unlawful distillation should be addressed through "targeted legal and commercial frameworks" instead of with "sweeping restrictions on techniques that play an important role in AI innovation."

"Our AI leadership will be judged not by one frontier AI model, but by whether the United States builds a strong, open ecosystem that diffuses into every sector," the letter said. "This is essential for creating opportunities for innovation and prosperity across the country."

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Speaking at the earnings call after reporting second-quarter results, CEO Robert Isom commented about inflation-adjusted airfares.

“Real airfares are still lower than in 2019,” he said, even as demand continues to strengthen across domestic and international markets. That apparent contradiction helps explain one of the biggest shifts taking place across the airline industry: airlines are increasingly earning more from who is flying rather than simply how much everyone pays for a ticket.

Premium Travelers are Helping American FlyAmerican’s earnings highlighted just how much its business has shifted toward premium travelers.

“So it’s nearly half of our ticketed revenue on roughly 30% of our seats. And the thing we’re really excited about is nearly 60% of our revenue comes from households making $150,000 or more,” Nathaniel Pieper, Chief Commercial Officer chimed in.

The customer mix tells a similar story. According to the company, nearly 60% of ticket revenue now comes from households earning more than $150,000 annually, a customer base management believes is likely to remain resilient even during periods of economic uncertainty.

To capitalize on that trend, American is expanding premium seating faster than economy seating through new aircraft deliveries and cabin retrofit programs while investing in lounges, upgraded onboard products and, beginning in 2027, Starlink high-speed Wi-Fi.

Strategy at WorkThe strategy appears to be working. Premium unit revenue increased more than 13% year over year, outpacing growth in the main cabin, while managed corporate revenue climbed 26%. The airline also reported a five-percentage-point increase in customers upgrading from Basic Economy to Main Cabin after making changes to its fare offerings.

The result is a business model that’s becoming less dependent on raising economy ticket prices. Instead, airlines are increasingly generating incremental revenue from premium cabins, loyalty programs, co-branded credit cards, paid upgrades and higher-spending travelers.

It’s also helping mitigate the brunt of rising fuel costs. “In the second quarter, fuel expense increased by over $2.2 billion, or 83% year over year,” CFO Devon May noted. Isom confirmed how well American is dealing with it. “The second quarter helped offset nearly 50% of the $2.2 billion year-over-year increase in fuel expense.”

This, coupled with the company being able to hold “non-fuel year-over-year unit cost growth to under 3%” have been helping American fly through fuel inflation.

For investors, American’s latest quarter offers a reminder that the industry’s earnings story isn’t simply about higher fares. It’s increasingly about extracting more value from each traveler—even while inflation-adjusted airfares remain below where they were before the pandemic.

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It would be easy to not notice. The company isn't exactly disrupting the pharmaceutical business, after all. In fact, most investors would struggle to name a single drug the company makes.

Just dig deeper. Last quarter's results may be a glimpse of the growth that Johnson & Johnson (JNJ +1.56%) quietly has in store for patient investors.

Image source: Getty Images.

Cancer drugs to lead growth You probably know the company as the name behind Tylenol, Band-Aid, and talcum powder. Johnson & Johnson actually spun off these consumer-facing brands into a stand-alone business called Kenvue back in 2023, leaving behind a prescription drug and medical device operation that some investors never knew existed. As was noted, most investors might struggle to name even just one of its drugs.

Nevertheless, it's there, and it's growing. Last quarter's operational revenue growth of 5.7% extends Q1's and last year's pace, led by the company's oncology arm, and particularly its cancer-fighting Darzalex, which saw global sales growth of nearly 19% in Q2.

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And that's important. Although its oncology business has been an important profit center for some time, Johnson & Johnson aims to sell at least $50 billion in cancer drugs per year by 2030, making it the biggest name in the business.

For perspective on that figure and its growth, the company is on pace to drive record-breaking revenue of just over $100 billion this year, with roughly $30 billion of that being cancer-related.

The thing is, with its oncology business now persistently growing at a rate in the high teens, Johnson & Johnson can reach this goal, more than offsetting the rapid deterioration of Stelara's sales now that the anti-inflammation drug's patents have expired.

Still a dividend holding, but one being rebuilt to extend an impressive track record This performance still won't qualify J&J as the sort of growth name that most investors envision when looking for a new growth investment. It's still predominantly a dividend-paying value stock, although a very good one. Indeed, with a track record of 64 consecutive years' worth of per-share dividend increases (adjusted for the Kenvue spinoff), it easily qualifies as a Dividend King.

This oncology-driven revenue growth, however, sets the stage for continued dividend increases.

And the underlying opportunity is certainly solid. An outlook from Precedence Research suggests the worldwide cancer treatment market is poised to grow at an average annualized rate of 11.3% through 2035, from $280 billion this year to over $730 billion per year at the end of this time frame. Johnson & Johnson just needs to make sure it continues capturing its fair share of this growth.

For most of the AI boom, investors have sorted semiconductor companies into neat categories.

NVIDIA Corp. (NASDAQ:NVDA) dominated AI accelerators.

Qualcomm Inc. (NASDAQ:QCOM) stayed trapped in the “smartphone chipmaker” bucket.

Citrini Research argues that classification may soon become outdated. The business underneath Qualcomm is turning into something else.

• Qualcomm stock is showing weakness. Why is QCOM stock trading lower?

Qualcomm Is Trying To Attack AI’s “Memory Wall”In the latest edition of its Citrini Semis Substack, Citrini Research highlighted that Qualcomm’s transformation extends far beyond smartphones.

The firm said the company is making a credible push into AI infrastructure — a market many investors still aren’t pricing in.

Instead, it’s attempting to solve one of artificial intelligence’s biggest bottlenecks: the exploding cost of moving data between memory and processors.

The investment thesis doesn’t revolve around another AI accelerator.

It revolves around architecture.

Citrini argues that today’s AI infrastructure faces a growing “memory wall,” where processors have become dramatically faster while memory bandwidth struggles to keep up.

High-bandwidth memory has become the industry’s preferred solution, but soaring costs are creating incentives to pursue alternative architectures.

“HBM isn’t an immutable requirement, it’s just the industry’s current answer to the cost of moving enormous amounts of data back and forth between memory and the accelerator,” Citrini wrote.

The firm believes Qualcomm’s newly introduced High Bandwidth Compute (HBC) architecture could become one of those alternatives.

Instead of relying on traditional HBM packaging, Qualcomm places compute directly beneath LPDDR memory, reducing data movement while avoiding expensive advanced packaging technologies.

According to Qualcomm executive Tony Pialis, the architecture delivers significantly higher bandwidth efficiency while reducing power consumption.

If successful, Qualcomm wouldn’t simply be selling another AI chip.

It would be attacking one of AI infrastructure’s largest cost centers.

Why Investors Should Focus On 2029, Not Next QuarterSkeptics argue that Qualcomm’s data center business remains years away from contributing meaningful revenue.

Citrini acknowledges that point but says investors are focusing on the wrong timeline.

Citrini acknowledges that production timelines remain early, with AI200 systems arriving this year and larger hyperscaler deployments expected later this decade.

Semiconductor stocks are routinely valued years ahead of realized earnings, and the firm said 2028 and 2029 are “precisely the year we are putting multiples on this.”

Qualcomm does not need billions in AI revenue today. It needs investors to believe those revenues are becoming credible.

The pieces have been bought rather than built.

Qualcomm closed a $2.3 billion acquisition of Alphawave in December and agreed in June to buy AI software firm Modular for roughly $3.9 billion.

Where Does Wall Street Stand?According to Benzinga Analyst Ratings, the consensus on Qualcomm is Neutral, with an average price target of $207.93. That implies roughly 22% upside from the July 22 close of $171.11, with targets running from $100 to a Street-high $300.

Qualcomm reports fiscal third-quarter results on July 29.

Photo: Shutterstock

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American Express AXP stock is in focus this morning after the credit card company reported its fiscal Q2 earnings that told a familiar story of premium strength.

AMEX came in ahead of Street estimates with an 11% year-on-year increase in earnings per share (EPS) to $4.53, while the firm's overall revenue went up 10% in the recent quarter to $19.6 billion.

However, underneath the glittering headline figures lies an increasingly costly structural evolution, one that’s weighing rather significantly on American Express stock on Friday morning.

AMEX added 3 million new proprietary cards during Q2 – with over three-quarters signing up for high-margin, fee-based accounts.

A massive slice of those additions continues to be Gen Z and Millennial consumers.

Yet, as younger cardholders flock to the brand, their enthusiastic adoption of “premium benefits” is turning into a double-edged sword for the company's operational margins.

Note that American Express shares are currently down over 13% versus the start of this year (2026)

American Express’s aggressive push to court younger demographics through refreshed Platinum and Gold card offerings has yielded millions of tech-savvy, lifestyle-focused customers.

However, Gen Z and Millennial cardholders operate differently than legacy members; they actively maximize every credit, travel pass, and dining stipend attached to their accounts.

This drove total quarterly operating expenses up 12% year-over-year.

Customer engagement and variable reward costs surged as airport lounge visits, hotel credits, and lifestyle perks were claimed at record volumes.

The average card member spent $6,759 in the second quarter – up from $6,393 last year – showing high engagement.

However, fulfilling those lifestyle promises requires huge capital. AMEX has successfully hooked a new generation, but funding their premium lifestyle is proving significantly more expensive than anticipated.

Despite beating quarterly profit expectations, AMEX shares dropped more than 5% following the announcement as investors focused heavily on the 12% expense hike.

The read for investors was simple: in a market where financial firms are expected to tighten belts, American Express is actually “accelerating” expenditure to defend its turf against competitors like JPMorgan Chase and Capital One.

Sure, the net write-offs remained comfortably low in the second quarter at 2%, proving credit health remains pristine – but narrowing margins due to a 50% increase in “Card Member Services” costs is becoming harder to ignore.

Market participants are concerned that if younger consumers continue rinsing the perk allowances while broader macroeconomic spending cools, expense growth could persistently beat transaction volume gains.

The ultimate fallout from this costly acquisition strategy was felt in AMEX’s forward guidance.

Strong first-half momentum prompted management to raise its full-year revenue growth outlook to about 10%.

Yet, notably, executives refused to raise the profit target, leaving EPS outlook frozen at $17.30 to $17.90.

That said, Wall Street hasn’t thrown in the towel on AMEX stock, though. Heading into the earnings print, the consensus rating on American Express stood at Overweight with a bullish $378 average price target.

Key Takeaways Dow's Q2 EPS beat estimates, with revenues of $12.09B and self-help benefits above $300M.Dow's Packaging & Specialty Plastics sales rose 27% as higher polyethylene prices boosted results.Dow expects Q3 EBITDA of about $1.7B while self-help actions add roughly $130M in sequential benefits. Dow Inc. (DOW - Free Report) used its second-quarter earnings call to emphasize cost actions, portfolio changes and disciplined execution as management focuses on improving earnings durability. The company highlighted stronger pricing, margin recovery and cash generation while acknowledging continued market volatility.

Management also provided a cautious third-quarter outlook, pointing to polyethylene margin pressure and seasonal factors while expecting additional benefits from restructuring and productivity initiatives.

DOW Advances Cost and Portfolio ActionsCEO Karen Carter said that Dow is focused on three priorities: targeted growth, improving portfolio competitiveness and maintaining balanced capital allocation. Carter emphasized using the company’s global assets and customer relationships to strengthen long-term competitiveness.

DOW reported second-quarter operating EPS of $1.44, beating the Zacks Consensus Estimate of $1.25. Revenues of $12.09 billion slightly surpassed the Zacks Consensus Estimate of $12.04 billion.

The company said self-help efforts generated more than $300 million of benefits during the quarter. Management increased expected in-year benefits from these actions to more than $1.3 billion.

Dow Sees Strength in Key MarketsDow’s second-quarter sales increased 20% year over year, supported by higher prices across regions. Operating EBITDA was $2.3 billion, while operating EBIT improved significantly from the prior-year period.

The company’s Packaging & Specialty Plastics segment was a major contributor, with sales rising 27% year over year to $6.4 billion. Dow attributed this improvement to higher polyethylene prices and stronger integrated margins.

Dow noted that data center demand remains a growth area, particularly for thermal management solutions and Industrial Solutions products. Carter highlighted opportunities in electronics, mobility and specialty applications.

DOW Details Third-Quarter OutlookCFO Jeffrey Tate said that Dow expects third-quarter EBITDA of approximately $1.7 billion. The outlook indicates anticipated polyethylene margin compression following June price changes and typical seasonal patterns after strong second-quarter demand.

Management expects about $130 million of sequential benefits from self-help actions during the third quarter. These gains are expected to offset planned maintenance and the absence of certain second-quarter benefits.

Dow also highlighted risks from geopolitical tensions, logistics constraints and uneven regional demand. The company said market conditions remain volatile, particularly due to ongoing disruptions affecting energy and feedstock markets.

Dow Builds Specialty Growth PlatformsDow said it is reshaping the silicones business by reducing higher-cost upstream capacity and expanding downstream opportunities. The company expects the Barry, U.K. siloxanes shutdown to provide a $60 million EBITDA uplift in the second half of 2026.

Management said specialty silicones investments are focused on faster-growing markets, including electric vehicles, consumer electronics, healthcare and data centers. Carter noted that these downstream markets are expected to deliver stronger returns.

The company also discussed its Dow Coolant Care Network, which supports data center thermal management needs. Management views the offering as a way to expand both revenue opportunities and service capabilities.

DOW Addresses Analyst ConcernsA Morgan Stanley analyst asked about the Alberta project and whether Dow could bring in a partner. Carter said that the company remains focused on completing the project while staying disciplined on returns.

A JPMorgan analyst questioned the timing of cost savings and capital allocation priorities. Tate said that debt reduction remains the first priority, with share repurchases not expected during 2026.

Analysts also questioned polyethylene assumptions. Carter said that improving oil prices, declining inventories and stronger order activity could provide upside if current market conditions continue.

Dow Focuses on Financial FlexibilityDow confirmed that it is prioritizing balance sheet strength, maintaining approximately $14 billion in liquidity and directing excess cash toward deleveraging. Management noted that there are no substantive debt maturities until 2029.

The company expects working capital actions to release more than $500 million in the second half of 2026. Management also confirmed progress from restructuring efforts, including implemented role reductions and site transformation initiatives.

Carter said that Dow’s approach remains centered on improving productivity, strengthening its asset base and focusing investment on attractive markets. The company continues to position its actions around longer-term competitiveness.

Zacks Signals Point to a Mixed SetupDOW carries a Zacks Rank #3 (Hold), indicating that the stock’s earnings estimate revision trends are currently consistent with a neutral outlook. The Zacks Rank can change as analysts update earnings expectations following new company information. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The stock has a Value Score of B and VGM Score of B, while its Growth Score is C and Momentum Score is F. Zacks Style Scores are designed to complement the Zacks Rank by evaluating value, growth and momentum characteristics, with stronger scores indicating more favorable attributes.

Wall Street expects a year-over-year increase in earnings on higher revenues when LyondellBasell (LYB - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 31. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis oil refiner and chemical company is expected to post quarterly earnings of $3.56 per share in its upcoming report, which represents a year-over-year change of +474.2%.

Revenues are expected to be $8.9 billion, up 16.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 21.38% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for LyondellBasell?For LyondellBasell, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -5.07%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that LyondellBasell will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that LyondellBasell would post earnings of $0.31 per share when it actually produced earnings of $0.49, delivering a surprise of +58.06%.

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

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

LyondellBasell doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAmong the stocks in the Zacks Chemical - Diversified industry, Eastman Chemical (EMN - Free Report) , is soon expected to post earnings of $1.8 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +12.5%. This quarter's revenue is expected to be $2.37 billion, up 3.5% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Eastman Chemical has been revised 4.9% down to the current level. Nevertheless, the company now has an Earnings ESP of +0.93%, reflecting a higher Most Accurate Estimate.

When combined with a Zacks Rank of #4 (Sell), this Earnings ESP makes it difficult to conclusively predict that Eastman Chemical will beat the consensus EPS estimate. Over the last four quarters, the company surpassed EPS estimates just once.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.