Track market-moving stories before they get noisy

The EUR/JPY cross trades with mild losses near 177.70 during the early European trading hours on Tuesday. The Euro (EUR) weakens against the Japanese Yen (JPY) as street riots in France raise concerns over political stability. Zew Surveys from Germany and the Eurozone will be released later on Tuesday. Also, European Central Bank (ECB) policymaker José Luis Escrivá is set to speak.

French authorities have imposed overnight curfews in parts of central Paris and other cities after a weekend of riots and looting across the country, per the BBC. French Prime Minister Sébastien Lecornu said on Monday that he was “fully resolved to restore public order” and had called for “local and partial” curfews if needed. There was “no question” of imposing a full curfew on entire cities, he said.

On the Japanese front, hawkish comments from a Bank of Japan (BoJ) policymaker could underpin the JPY. BoJ policy board member Junko Koeda said that there is no need to be excessively cautious about rate hikes given that upside inflation risks remain substantial.

Meanwhile, BoJ Governor Kazuo Ueda said on Monday that underlying inflation is "quite close" to the central ‌bank's 2% target, with strong global AI demand adding to inflationary pressure from a tight job market, signalling scope for further rate increases.

Global bond selloff shifts focus to cross-currency rate tradesStrategists at Societe Generale note that the recent global bond rout has been broad-based, with the move in US Treasuries rippling across major markets. They highlight that “the bond selloff has put pressure on bonds everywhere, and a 1% rise in 10yr US yields this year has sent gilts up by 93bp, BTPs by 94bp and OATs by 123bp.”

Societe Generale argues that while this “brings its own narrative to the market,” the extent of the US move means “if the US rate story is getting stretched, that does reinforce the notion that selling EUR/JPY and GBP/AUD here, may be a better risk-reward strategy than selling EUR/USD and GBP/USD at these levels.” In their view, the current backdrop favours cross-currency relative-rate trades over outright Dollar or Pound positions.

Ueda keeps BoJ cautiously hawkish as inflation nears targetUeda’s 7/10 FXS Speechtracker score is slightly below the historic 7.4/10 baseline, but the emphasis on “underlying inflation near 2%” and a positive wages–prices loop marks a mildly hawkish tilt. The focus on demand-led inflation from robust global activity, tight labor markets and domestic capex, alongside warnings that miscalibrated policy could push long-term rates higher, reinforces a narrative that the BoJ is edging closer to further normalization while keeping financial conditions accommodative.

At the same time, Ueda’s insistence on no shift in the fundamental bond taper approach and refusal to preannounce emergency JGB measures signal a desire to avoid market overreaction while retaining flexibility. For FX, the combination of rising inflation, the prospect of steady increases in long-term yields if short-term rates are lifted, and a commitment to stabilizing the JGB market is modestly supportive for the Yen, especially if global risk sentiment remains fragile amid Middle East-driven energy price pressures.

Technical Analysis: Bearish tone of EUR/JPY prevails under the 100-day SMAIn the daily chart, EUR/JPY keeps a bearish tone as it holds below the 20-period Bollinger simple moving average and remains well under the 100-day simple moving average (SMA). Price is also capped beneath the upper Bollinger band, reinforcing a downside bias while the Relative Strength Index (14) at 42.80 suggests subdued momentum rather than oversold conditions.

On the downside, initial support level is located at the October 15 low of 176.52. The next contention level to watch is the lower limit of Bollinger band around 175.80, where sellers may consider booking profits on further weakness. 

On the topside, immediate resistance level appears in the 177.95-178.00 zone, representing the 20-period Bollinger SMA and psychological level. A stronger barrier is seen at the upper boundary of Bollinger band near 180.10, while the 100-day SMA at 182.75 marks a major resistance level that would need to be reclaimed to ease the broader bearish pressure.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Japanese Yen FAQs The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.

One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.

Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.

The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.

Please see below information about transactions made under the third tranche of the 2026 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).

Date on which the buy-back tranche was announced: 22 July 2026.

The duration of the buy-back tranche: 23 July to no later than 26 October 2026.

Further information on the tranche can be found in the stock market announcement on its commencement dated 22 July 2026, available here: https://newsweb.oslobors.no/message/678529

From 12 October to 16 October 2026, Equinor ASA has purchased a total of 540,275 own shares at an average price of NOK 425.4849 per share.

Overview of transactions:

DateTrading venueAggregated daily volume (number of shares)Daily weighted average share price (NOK)Total daily transaction value (NOK)     12 OctoberOSE137,775418.322457,634,368.66 CEUX    TQEX        13 OctoberOSE137,500420.993457,886,592.50 CEUX    TQEX        14 OctoberOSE132,000431.516956,960,230.80 CEUX    TQEX        15 OctoberOSE    CEUX    TQEX        16 OctoberOSE133,000431.561557,397,679.50 CEUX    TQEX        Total for the periodOSE540,275425.4849229,878,871.46 CEUX    TQEX        Previously disclosed buy-backs under the trancheOSE7,697,832396.52413,052,375,860.73CEUX   TQEX   Total7,697,832396.52413,052,375,860.73     Total buy-backs under the tranche (accumulated)OSE8,238,107398.42343,282,254,732.19CEUX   TQEX   Total8,238,107398.42343,282,254,732.19 Following completion of the above transactions, Equinor ASA owns a total of 23,077,317 own shares, corresponding to 0.97% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 11,773,082 own shares, corresponding to 0.49% of the share capital).

This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Appendix: An overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.

Contact details:

Investor relations
Bård Glad Pedersen, senior vice president Investor Relations,
+47 918 01 791

Media
Sissel Rinde, vice president Media Relations,
+47 412 60 584

Detailed overview of transactions

New TREMFYA® (guselkumab) 3-year as-observed data show clinical remission rates of up to 94% (172/183 patients) and endoscopic remission rates of up to 52% (89/172 patients) in adults with moderate to severe Crohn’s disease in the 100 mg q8w dose group1FUZION data show combined fistula remission was maintained through Week 48 across both maintenance dose regimens, including an increase from 28% at Week 24 to 35% at Week 48 in the 100 mg q8w dose group2Together, these findings expand the evidence for guselkumab across long-term disease management and one of the most difficult-to-treat manifestations of Crohn’s disease1,2 BEERSE, BELGIUM (19 October 2026) – Johnson & Johnson today announced new data that further expands the clinical evidence supporting TREMFYA® (guselkumab) in Crohn's disease (CD) at the 2026 United European Gastroenterology Week (UEG Week). Research from the Phase 3 GALAXI studies shows durable efficacy and a consistent safety profile for guselkumab through three years (Week 144) of maintenance treatment in adults with moderately to severely active CD, reinforcing its long-term benefit in this chronic, progressive disease.1 Additionally, late-breaking one-year results from the Phase 3 FUZION study showed that guselkumab maintained or improved fistula remission through Week 48 in adults with CD with perianal fistula.2

"The treatment goals in Crohn's disease continue to evolve beyond short-term symptom management towards achieving durable disease control that can be sustained over years," said Mark Graham, Therapeutic Area Head, Immunology, J&J Innovative Medicine EMEA. "These findings reinforce the potential of guselkumab across different stages and manifestations of Crohn's disease, from sustained remission over three years to encouraging outcomes in patients living with perianal fistula, one of the most challenging complications of the disease."

Crohn’s disease is one of the two main forms of inflammatory bowel disease (IBD), which affects an estimated two million people across Europe.3 Guselkumab is an IL-23p19 subunit inhibitor approved in IBD that blocks IL-23 and binds to CD64, a receptor on cells that produce IL-23.4,5,6,7 Findings for the unique mechanism of action are limited to in vitro studies, and the clinical significance of this finding is not known.8 IL-23 is a cytokine secreted by activated monocytes/macrophages and dendritic cells that is known to be a driver of immune-mediated diseases, including Crohn’s disease.9

Three-year GALAXI results support the known efficacy and safety profile of guselkumab

Patients in the GALAXI 2 and 3 studies received intravenous induction followed by one of two guselkumab maintenance dosing regimens: 100 mg administered subcutaneously every eight weeks (q8w; n=286) or 200 mg administered subcutaneously every four weeks (q4w; n=296).1 In total, 432/582 patients continued treatment through Week 144.1 These were as-observed analyses and do not represent outcomes in the full randomised population.1 Participants who discontinued, lacked Week 144 data or underwent dose adjustment were not included.1 Across both regimens, clinical and endoscopic remission were maintained through three years of treatment.1 At Week 144 in the long-term extension (LTE), the data show:a

94% (172/183) of patients receiving guselkumab 100 mg q8w and 91% (185/204) receiving guselkumab 200 mg q4w achieved clinical remission.b,189% (162/183) of patients receiving guselkumab 100 mg q8w and 88% (179/204) receiving guselkumab 200 mg q4w achieved 90-day corticosteroid-free clinical remission.152% (89/172) of patients receiving guselkumab 100 mg q8w and 61% (119/195) receiving guselkumab 200 mg q4w achieved endoscopic remission.c,174% (432/582) of guselkumab-treated patients remained on treatment through three years.1 Safety findings through Week 144 were consistent with the known safety profile of guselkumab in Crohn’s disease.1 Common adverse reactions associated with guselkumab include respiratory tract infections, diarrhoea, and injection site reactions.4

The three-year results demonstrate durable clinical, corticosteroid-free and endoscopic remission across both guselkumab maintenance regimens.1

"In a chronic condition such as Crohn's disease, maintaining remission is as important as achieving it," said Prof. Silvio Danese, Gastroenterologist and Professor of Gastroenterology at Vita-Salute San Raffaele University and IRCCS San Raffaele Hospital in Milan, Italy.d "The three-year GALAXI results provide valuable longer-term evidence, showing that high levels of clinical remission were accompanied by sustained endoscopic and corticosteroid-free outcomes across both guselkumab maintenance regimens."

New FUZION 48-week analysis extends evidence in Crohn’s disease with perianal fistula

The 48-week findings showed that combined fistula remission, which incorporates both clinical and radiological assessment, was maintained or improved in both guselkumab maintenance regimens.2 Among patients initially randomised to the guselkumab 100 mg q8w maintenance regime (n=113), combined fistula remissione further increased from 28% at Week 24 to 35% at Week 48.2,10 Results at Week 48 include patients who underwent blinded dose adjustment to guselkumab 200 mg every four weeks at Week 24 (n=55).2 Similar findings were observed for rates of clinically assessed fistula remission.f,2

Results among patients receiving guselkumab 200 mg every 4 weeks (q4w; n=115) remained consistent through Week 48 (27% at Week 24 to 26% at Week 48).2,10 Similar findings were observed for clinically assessed fistula remission.2 Overall, 90% of all randomised patients, which included both bio-naïve and bio-experienced patients, completed treatment through Week 48.2

“Perianal fistula remains one of the most debilitating complications of Crohn's disease, where achieving durable disease control beyond symptom improvement is a challenge,” said Ailsa Hart, Ph.D., Director of St Mark's Hospital Inflammatory Bowel Disease Research, Consultant Gastroenterologist, and study investigator.g “The latest findings from the FUZION study show that patients treated with guselkumab maintained or improved upon the clinical benefits observed at Week 24, providing encouraging evidence for its use in this patient population.”

Safety findings through Week 48 were consistent with the known safety profile of guselkumab in Crohn’s disease.2 Common adverse reactions associated with guselkumab include respiratory tract infections, diarrhoea, and injection site reactions.4

These results reinforce the previously shared Week 24 results from FUZION,2,10 making guselkumab the only IL-23 inhibitor to demonstrate efficacy in a dedicated, randomised, placebo-controlled trial in patients with Crohn’s disease with perianal fistula, one of the most difficult-to-treat manifestations of the disease.2

Together, the GALAXI and FUZION findings presented at UEG Week 2026 underscore the growing breadth of evidence supporting guselkumab across Crohn's disease, from sustained long-term remission in moderately to severely active disease to efficacy in patients living with complex fistulising complications.1,2,11

Editor’s notes:

The Week 144 clinical remission, 90-day corticosteroid-free clinical remission and endoscopic remission results above represent the as observed data for the three-year GALAXI analysis.1 The observed analysis set included participants who entered the LTE, received ≥1 partial or complete study drug dose during the LTE, remained on treatment, and had data available at Week 144; participants who had a dose adjustment were not included.1Clinical remission was defined as a CDAI score <150.1Endoscopic remission was defined as an SES-CD ≤4, with a ≥2-point reduction and no subscore >1 on any subcomponent.1Silvio Danese is a paid consultant for Johnson & Johnson. He has not been compensated for any media work.Combined fistula remission was defined as 100% closure of all external openings without development of new fistulas or abscesses and without any drainage by external openings, occurring spontaneously or after gentle finger compression and absence of collections >2cm of the perianal fistulas in at least two of three dimensions, confirmed by a blinded central review of the MRI results.2Clinically assessed fistula remission was defined as: 100% closure of all treated external openings without development of new fistulas or abscesses and without any drainage by external openings, occurring spontaneously or after gentle finger compression.2Ailsa Hart is a paid consultant for Johnson & Johnson. She has not been compensated for any media work. About the GALAXI programme (EudraCT 2017-002195-13)12

GALAXI is a double-blind, placebo-controlled, active-controlled (ustekinumab), parallel group, global, multicentre Phase 2/3 programme designed to evaluate the efficacy and safety of guselkumab in participants with moderately to severely active Crohn’s disease with inadequate response/intolerance to conventional therapies (immunomodulators, corticosteroids) and/or biologics (infliximab, adalimumab, certolizumab pegol, vedolizumab).12 GALAXI includes a Phase 2 dose-ranging study (GALAXI 1) and two independent, identically designed confirmatory Phase 3 studies (GALAXI 2 and 3, n=1021).12 Each GALAXI study employed a treat-through design in which participants remained on the treatment to which they were initially randomised and includes a long-term extension that will assess clinical, endoscopic, and safety outcomes with guselkumab through a total of five years.4,12,13 Clinical outcomes include clinical remission (Crohn's Disease Activity Index [CDAI] <150), while endoscopic outcomes include endoscopic response and endoscopic remission as assessed using the Simple Endoscopic Score for Crohn's Disease (SES-CD).12

About the FUZION study (EudraCT 2021-000491-10)14

FUZION is a randomised, placebo-controlled, double-blind, multicentre, Phase 3 study designed to evaluate the efficacy and safety of guselkumab in adults with Crohn’s disease with perianal fistula.14 Patients enrolled in the study had one or more active draining perianal fistulas confirmed by blinded central MRI review, Crohn’s Disease Activity Index [CDAI] <350, and inadequate response to oral corticosteroids, azathioprine, 6-mercaptopurine, methotrexate, or up to 2 advanced therapy classes.10,14 Patients were randomised 2:2:1 to receive guselkumab 200 mg intravenous (IV) induction at Weeks 0, 4, 8 followed by guselkumab 100 mg subcutaneous (SC) maintenance therapy every 8 weeks (q8w); or guselkumab 200 mg IV infusion at Weeks 0, 4, 8 followed by guselkumab 200 mg SC maintenance therapy every 4 weeks (q4w); or placebo.10

About Crohn’s disease

Crohn’s disease is one of the two main forms of inflammatory bowel disease, which affects an estimated two million people across Europe.3 Crohn’s disease is a chronic inflammatory condition of the gastrointestinal tract with no known cause, but the disease is associated with abnormalities of the immune system that could be triggered by a genetic predisposition, diet, or other environmental factors.15 Symptoms of Crohn’s disease can vary, but often include abdominal pain and tenderness, frequent diarrhoea, rectal bleeding, weight loss, and fever.16 There is currently no cure for Crohn’s disease.17

About guselkumab

Developed by Johnson & Johnson, guselkumab is the first approved fully-human, IL-23p19 subunit inhibitor that blocks IL-23 and binds to CD64, a receptor on cells that produce IL-23.4,5,6,7 Findings for the unique mechanism of action are limited to in vitro studies, and the clinical significance of this finding is not known.8

Guselkumab is approved in the EU for the treatment of moderate to severe plaque psoriasis (Pso) in adults who are candidates for systemic therapy and for the treatment of active psoriatic arthritis (PsA) in adult patients who have had an inadequate response or who have been intolerant to a prior disease-modifying anti-rheumatic drug therapy.4 It is also approved in the EU and U.S. for the treatment of adult patients with moderately to severely active ulcerative colitis who have had an inadequate response, lost response, or were intolerant to either conventional therapy, or a JAK inhibitor and for the treatment of adult patients with moderately to severely active Crohn’s disease who have had an inadequate response, lost response, or were intolerant to either conventional therapy or a biologic treatment.4,18

Johnson & Johnson maintains exclusive worldwide marketing rights to guselkumab.

Guselkumab important safety information

In controlled periods of clinical studies with guselkumab, adverse drug reactions (ADRs) that consisted of respiratory tract infections were very common (≥10 percent); increased transaminases, headache, diarrhoea, arthralgia, rash and injection site reactions were common (≥1 to <10 percent); and herpes simplex infections, tinea infections, gastroenteritis, decreased neutrophil count, hypersensitivity, anaphylaxis, and urticaria were rare ADRs (≥0.1 percent to <1 percent).4

Please refer to the Summary of Product Characteristics for full prescribing information for guselkumab: https://www.ema.europa.eu/en/documents/product-information/tremfya-epar-product-information_en.pdf

About Johnson & Johnson

At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow and profoundly impact health for humanity.

Learn more at https://www.jnj.com/innovativemedicine/emea/

Follow us at https://www.linkedin.com/company/jnj-innovative-medicine-emea.

Cautions Concerning Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 related to TREMFYA®. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: competition, including technological advances, new products and patents attained by competitors; uncertainty of commercial success for new products; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; changes in behaviour and spending patterns or financial distress of purchasers of health care products and services; and global health care reforms and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission.

Copies of these filings are available online at www.sec.gov, www.jnj.com, www.investor.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

Media contact:
Sophie Daneau
[email protected]

Investor contact:
Jessica Margevich
[email protected]

CP-606720
October 2026

References

Sands BE, et al. Efficacy and safety of guselkumab maintenance therapy in patients with moderately to severely active Crohn’s disease: results through week 144 from the phase 3 GALAXI 2 & 3 studies. Oral presentation (OP105) at the United European Gastroenterology Week Congress (UEGW). October 2026.Hart A, et al. Efficacy and safety of guselkumab in perianal fistulizing Crohn’s disease: Week 48 results from the Phase 3, randomized, double-blind, placebo-controlled FUZION trial. LB09 at the United European Gastroenterology Week Congress (UEGW). October 2026.Ng SC, et al. Worldwide incidence and prevalence of inflammatory bowel disease in the 21st century: a systematic review of population-based studies. The Lancet. 2017;390:2769-78.EU SmPC: European Medicines Agency. TREMFYA Summary of Product Characteristics. Available at: https://www.ema.europa.eu/en/documents/product-information/tremfya-epar-product-information_en.pdf . Accessed October 2026.EU SmPC: European Medicines Agency. Ilumetri Summary of Product Characteristics. Available at: https://www.ema.europa.eu/en/documents/product-information/ilumetri-epar-product-information_en.pdf. Accessed October 2026.EU SmPC: European Medicines Agency. Skyrizi Summary of Product Characteristics. Available at: https://www.ema.europa.eu/en/documents/product-information/skyrizi-epar-product-information_en.pdf. Accessed October 2026.EU SmPC: European Medicines Agency. Omvoh Summary of Product Characteristics. Available at: https://www.ema.europa.eu/en/documents/product-information/omvoh-epar-product-information_en.pdf. Accessed October 2026.Sachen KL, et al. Guselkumab binding to CD64+ IL-23–producing myeloid cells enhances potency for neutralizing IL-23 signaling. J Crohns Colitis. 2025; 12;16:1532852. Available at: https://doi.org/10.3389/fimmu.2025.1532852.Schinocca C, et al. Role of the IL-23/IL-17 pathway in rheumatic diseases: an overview. Frontiers in Immunology. 2021 Feb 22;12:321. Available at: https://doi.org/10.3389/fimmu.2021.637829.Sands BE, et al. Efficacy of guselkumab in perianal fistulizing Crohn’s disease: Week 24 results from the phase 3, randomized, double-blind, placebo-controlled, multicenter FUZION study. P5691 at ACG Annual Scientific Meeting 2026. October 2026.Schubert S, et al. Early symptomatic response to guselkumab in inflammatory bowel disease: first real-world data from the german GORGEOUS study. ePoster (PP1357) at the United European Gastroenterology Week (UEGW). October 2026.EU Clinical Trials Register. Clinicaltrialsregister.eu. A Phase 2/3, randomised, double-blind, placebo- and active-controlled, parallel-group, multicentre protocol to evaluate the efficacy and safety of guselkumab in participants with moderately to severely active Crohn’s disease (GALAXI). Identifier: 2017-002195-13. Available at: https://www.clinicaltrialsregister.eu/ctr-search/trial/2017-002195-13/ES. Accessed October 2026.ClinicalTrials.gov. A Study of the efficacy and safety of guselkumab in participants with moderately to severely active crohn's disease. Identifier: NCT03466411. Available at: https://clinicaltrials.gov/study/NCT03466411#study-plan. Accessed October 2026.ClinicalTrials.gov. A study of guselkumab in participants with fistulizing, perianal Crohn’s disease (FUZION CD). Identifier: NCT05347095. Available at: https://clinicaltrials.gov/study/NCT05347095. Accessed October 2026.Crohn’s & Colitis Foundation. Causes of Crohn’s disease. Available at: https://www.crohnscolitisfoundation.org/what-is-crohns-disease/causes. Accessed October 2026.Crohn’s & Colitis Foundation. Signs and symptoms of Crohn’s disease. Available at: https://www.crohnscolitisfoundation.org/what-is-crohns-disease/symptoms. Accessed October 2026.NHS. Crohn’s disease treatment. Available at: https://www.nhs.uk/conditions/crohns-disease/treatment/. Accessed October 2026.U.S. Food and Drug Administration. TREMFYA Prescribing Information. Available at: https://www.accessdata.fda.gov/drugsatfda_docs/label/2020/761061s009lbl.pdf. Accessed October 2026.

BlackRock has applied for another Bitcoin exchange-traded fund (ETF). The new product is designed to give investors some protection against losing money while still maintaining some of the possible gains. The filing is the latest indication of the asset manager’s increasingly active approach to investing in Bitcoin.

BlackRock Files for PBIT Bitcoin ETF BlackRock filed an application with the U.S. Securities and Exchange Commission (SEC) Monday to launch the iShares Bitcoin Managed Protection ETF. The fund will be listed on the exchanges under the symbol “PBIT”.

On X, Bloomberg Intelligence’s Senior Analyst James Seyffart posted a note on X explaining the filing. He termed the product a “buffer” Bitcoin ETF. Investors would get some protection against losses and forgo some reward for their investment.

The fund would be based on BlackRock’s iShares Bitcoin Trust ETF (IBIT), Seyffart said. These would define the fund’s investment outcomes, which would assist in the establishment of the fund’s defined investment outcomes.

He wrote, “Notably, this is the third Bitcoin ETF filing from them. Still only have Bitcoin and Ethereum products — no other cryptos.”

Notably, this is the third Bitcoin ETF filing from them. Still only have Bitcoin and Ethereum products — no other cryptos. Also, this product will hold $IBIT as the underlying asset and will write/buy options around it to generate the defined outcomes. It will be a 40 Act fund.

— James Seyffart (@JSeyff) October 19, 2026

The strategic structure of the fund is designed to be attractive to investors who are looking to get exposure to Bitcoin with defined risks. The level of protection and the upside limit, however, will be contingent on the ultimate conditions of the fund.

IBIT Remains BlackRock’s Flagship Bitcoin ETF BlackRock has introduced IBIT in January 2024. The fund has since more than doubled to $65.1 billion in assets under management, as tracked by The Block’s Bitcoin ETF tracker.

The asset manager continued to grow its products in June. It introduced its iShares Bitcoin Premium Income ETF, aiming to post monthly income via options and offer Bitcoin exposure.

PBIT would be another strategy to this list. While the primary exposure of the proposed fund will be Bitcoin, some option income could also be included with the goal of balancing potential gains with downside protection.

This structure does not offer investors complete protection from investment risk. The upside cap may also stifle returns if the price of Bitcoin rises sharply.

Asset Management Yet To Expand Beyond BTC & ETH Additionally, Seyffart emphasized that BlackRock has only a few crypto products. In the last few years, other issuers have launched ETFs that are correlated with XRP, Solana, and Dogecoin.

BlackRock, however, is still sticking to its Bitcoin and Ethereum products. The PBIT filing does not bring about exposure to another cryptocurrency, but it does expand its Bitcoin offerings.

Now, the market’s eyes are on the ETF’s protection threshold, upside cap and management fee as the process of registration continues.

BlackRock’s iShares Bitcoin Trust took in $665.2 million in net inflows on Monday, October 19, 2026. On a day when several rivals lost money, that one fund did most of the lifting for the entire category.

Spot ether ETFs had a rougher start to the week. They posted $103.3 million in net outflows, extending a streak of redemptions that had already been building.

One fund, one direction
The fund, which trades under the ticker IBIT, was the clear standout of the session. Its $665.2 million haul came while two of its best-known competitors moved the other way.

Fidelity’s FBTC recorded $83.6 million in outflows. Grayscale’s GBTC shed $54.9 million.

Put those together and US spot Bitcoin ETFs finished the day with a combined net inflow of $526.7 million.

Meanwhile, Bitcoin itself traded between $78,700 and $82,800 during this period.

Ether funds keep leaking
The picture for ether products was the mirror image. Spot ether ETFs lost $103.3 million in net flows on Monday.

That followed a week of steady withdrawals. For the week ending October 16, outflows from spot ether ETFs reached approximately $320 million.

For context on how these products work, a spot ETF holds the underlying asset directly. Buying a share of IBIT gives an investor exposure to Bitcoin’s price through an ordinary brokerage account, with no wallet or private keys to manage.

What the split could signal
The research behind these figures frames the IBIT inflow as a possible sign of strong institutional interest in Bitcoin. It also suggests that, given Bitcoin’s relatively steady trading range, the inflow may point to a strategic accumulation phase by larger investors.

The ether side tells a more cautious story. The same research suggests the contrasting performance of Bitcoin and ether ETFs points to a more guarded outlook on ether, with sentiment and market dynamics that might favor Bitcoin in the short term.

By mid-October 2026, cumulative net inflows into US spot Bitcoin ETFs had surpassed $56 billion, with BlackRock’s IBIT consistently capturing the largest market share. Spot Ether ETFs entered October 2026 with net outflows exceeding $950 million for the month to date.

For now, Monday’s data offers a clear snapshot: a $526.7 million net gain for spot Bitcoin ETFs, nearly all of it explained by a single BlackRock fund, alongside a $103.3 million drain from ether products.

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

J.P. Morgan Asset Management now expects Bitcoin to beat US stocks, gold, and REITs over the next ten years. That forecast comes from the bank’s “Long-Term Capital Market Assumptions 2027” report.

The numbers behind the forecast
The report was unveiled around October 19, 2026. It puts Bitcoin’s expected compound return at 10% a year, ahead of US large-cap equities at 7.5% and gold at 5.5%.

According to the research findings, Bitcoin is now the highest-returning asset class in the history of the report’s long-term projections. It also marks the first time Bitcoin has appeared in J.P. Morgan’s annual LTCMA at all.

The report pegs Bitcoin’s annualized volatility at 55%, compared with roughly 18% for large-cap stocks and 17.2% for gold.

J.P. Morgan estimates Bitcoin’s annualized arithmetic return at 20.9%, roughly double the 10% compound figure. Arithmetic return is the simple average of each year’s gain or loss. Compound return is what an investor actually ends up with after holding through the ups and downs. Big drawdowns eat into compounding: lose half your money and you need to double it just to get back to even.

A forecast, not a recommendation
Bitcoin is included in the return projections, but it is left out of the report’s sample portfolio allocations. J.P. Morgan is willing to say what it thinks Bitcoin might earn, but is not yet willing to tell clients how much of it to own.

Bitcoin is also the only digital asset in the document. No other tokens appear anywhere in the LTCMA assumptions.

Bitwise CIO Matt Hougan described the moment as a shift in how institutions view Bitcoin, noting the asset has moved from something big firms opposed to something they now build into formal forecasts.

How J.P. Morgan got here
The bank’s research teams have previously set shorter-term price targets around $170,000 and reiterated a long-term parity level of $266,000. That figure reflects a scenario in which Bitcoin matches gold on a volatility-adjusted basis.

Bitcoin currently trades near $82,000. The shorter-term target implies roughly a doubling from current levels, and the parity scenario implies considerably more.

What this means for investors and institutions
The gap between 20.9% arithmetic and 10% compound returns shows how much of Bitcoin’s theoretical upside gets consumed by its own turbulence. Bitcoin’s 55% volatility makes that gap unusually large compared to equities and gold.

The exclusion from sample portfolios marks the gap between acknowledging an asset and actually recommending it. If a future edition of the LTCMA moves Bitcoin from the forecast table into model allocations, that would mark a more consequential shift.

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

XRP faced renewed selling pressure despite Ripple Prime’s reported entry into the Depository Trust & Clearing Corporation’s (DTCC) tokenization initiative, with the token declining 0.24% to $1.3040 over the past 24 hours. The recent announcement has not spurred a price rally, leaving traders focused on critical technical levels and market reaction.

Ripple Prime’s DTCC Participation Under ScrutinyA post from analyst Amonyx called attention to Ripple Prime, a division of Ripple Labs specializing in institutional solutions, joining the DTCC’s new asset tokenization initiative. The DTCC, the leading US post-trade financial services company, reportedly manages $114 trillion in assets under custody.

However, the details released so far do not indicate that XRP itself will be used directly in the tokenization process. Market observers noted that while Ripple’s involvement in the project highlights its institutional growth, speculation over XRP’s role remains unresolved.

Ripple’s participation in the DTCC’s tokenization initiative has drawn attention to institutional adoption, but the announcement does not confirm direct integration of XRP in the project, leaving investors watching for further clarity.

Amonyx emphasized the scale of the DTCC initiative, underlining the significance for $XRP, but acknowledged that excitement remains contingent on whether the program creates tangible utility for the token.

Mini dictionary: DTCC – The Depository Trust & Clearing Corporation is the central infrastructure provider for clearing, settlement, and information services for US financial markets. It is widely regarded as a backbone of the traditional securities industry, handling trillions of dollars in daily transactions.

Technical Levels: Key Support and ResistanceFollowing a September rally, XRP has lost momentum, falling below the 50-day moving average at $1.4144 and trading near its 200-day moving average at $1.2800. Technical analysts pointed out that the 200-day line is now a crucial support level. A sustained hold above it could stabilize the price; however, a further decline would likely increase downside risk.

Resistance sits at $1.4144 and a stronger barrier at $1.4895. Any move above the 50-day average may shift momentum toward the bullish side, while remaining below this level leaves the token exposed to further consolidation.

Price LevelSignificance$1.2800200-day moving average, key support$1.414450-day moving average, immediate resistance$1.4895Major resistanceDerivatives Data and Market ActivityCoinGlass derivatives data showed a decline in open interest from late September highs, moving alongside XRP’s falling price. This trend suggests a reduction in outstanding futures positions, but does not definitively signal whether the futures market is leaning bullish or bearish.

Trading volumes have also eased from previous peaks, with occasional spikes persisting. This indicates that October’s price drop has occurred without a sharp increase in trading activity compared to earlier periods.

XRP’s lower open interest and subdued volume reflect reduced speculative interest following September’s activity, leaving traders awaiting fresh catalysts.

ETF Flows: Outflows Temper SentimentAccording to data provider SoSoValue, XRP spot ETFs recorded a net outflow of $2.47 million on October 16, 2026. By that date, total net assets of these funds reached $1.47 billion, with cumulative inflows standing at $1.80 billion.

The negative daily flow signals near-term selling pressure, even as the longer-term picture remains positive due to the sum of inflows. Analysts noted these figures pertain to transactions through October 16, and do not guarantee the trend continues in subsequent days.

DateDaily Net FlowTotal Net AssetsCumulative Net InflowOctober 16, 2026-$2.47 million$1.47 billion$1.80 billionShort-Term Outlook and Next StepsXRP’s immediate prospects depend on whether buyers can defend the $1.2800 support and recover the $1.4144 resistance. The moving average convergence divergence (MACD) indicator remains negative, with the MACD line at -0.0367 below the signal line at -0.0210 and the histogram at -0.0157, sustaining a bearish momentum profile.

A recovery above the 50-day moving average could trigger renewed upward momentum toward $1.4895, while a break below the 200-day moving average would reinforce the risk of further declines.

Ripple Prime’s institutional partnership narrative has influenced market sentiment, but traders are seeking clearer evidence of direct XRP utility or investment inflows before adopting a more bullish stance. Volatility remains high, with key levels and derivative data playing a central role in the near-term XRP market outlook.

Ethereum traders are buying insurance, and they are paying a premium for it.

On October 19, 2026, ETH options markets showed a clear downside skew. Short-dated puts traded at a meaningful premium to calls, which signals that traders are more worried about a drop than excited about a rally.

ETH has slipped roughly 8% over the past month while Bitcoin quietly held its ground, gaining 1.5% over the same stretch.

What the options market is saying Data from Block Scholes showed seven-day ETH puts trading at an implied volatility premium of up to 8 percentage points over calls.

The 1-week 25-delta skew for ETH stood at +7.4 vol points, sitting at the 11th percentile. The 25-delta skew compares the price of puts and calls that are similarly far from the current price. A positive reading means puts are richer, so traders are leaning defensive.

ETH’s 7-day implied volatility climbed nearly 10 points, a sign that tension is building in the near-term contracts.

Further out on the curve, the tone softens but does not flip. The 30-day 25-delta skew came in at +3.1 vol points. Puts are still favored on a monthly view, just with less urgency than in the one-week window.

A tale of two assets Bitcoin has held a range between $80,000 and $84,000. ETH, by contrast, has been referenced around $2,400 in spot trading.

Both assets have seen their put-call skews widen since early October. A decline in AI and tech equities has weighed on sentiment, and that caution has spilled into crypto. ETH has taken the bigger hit, while Bitcoin has mostly shrugged.

Calls still dominate open interest Despite the defensive skew, ETH options open interest remains heavily tilted toward calls. Calls make up approximately 63% of open interest, with puts at roughly 37%. Total open interest for ETH options was approximately $6.09 billion.

The call wall sits at $2,600, while the put wall rests at $2,300. With spot near $2,400, ETH is trading between those two markers, closer to the put side than the call side.

What this means for traders For anyone using options to hedge, the cost of that hedge has gone up. Buying short-dated puts now means paying a premium compared with a few weeks ago. Selling puts, on the other hand, pays more, though it comes with the obvious risk of being on the hook if prices fall.

The $2,300 put wall is the level many traders will likely have circled. A move toward that zone would test whether the defensive positioning was prescient or simply expensive peace of mind.

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

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NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX) today announced the final close of Blackstone Energy Transition Partners V (“BETP V”) at $8.7 billion – more than 50% larger than its predecessor vehicle. The significantly oversubscribed fund reached its hard cap and builds on the strong performance of the strategy’s prior vintages.

Blackstone Energy Transition Partners (“BETP”) seeks to build energy companies at scale that deliver cleaner, more reliable and more affordable energy to meet growing global needs. BETP’s energy transition investments have generated, as of June 30, a 34% net IRR since 1997, reflecting the strength of its differentiated strategy. In 2025, BETP was named IJ Investor’s “Fund Manager of the Year – Equity” for North America, recognizing its leadership in delivering investment performance at scale.

David Foley, Global Head of Blackstone Energy Transition Partners, said: “We believe there is a generational opportunity for experienced investors in the energy transition to provide solutions to the challenges posed by growing demand for electricity. By backing exceptional management teams with flexible, patient equity capital to increase manufacturing capacity, recruit and train skilled labor and construct new critical energy infrastructure assets, BETP is delivering those solutions and in the process building these companies to scale, creating jobs and generating lasting value for our investors. We are deeply grateful for the trust of our investors and look forward to deploying BETP V in investments that advance the transition to a more affordable, reliable and cleaner energy future.”

BETP V began its investment period in June and has already funded three distinct platform companies (Kindle, Fisterra and Viridon) backing proven management teams to develop and operate new power generation and electric transmission lines, and has also made three acquisitions focused on energy efficiency and resiliency, including:

Flow Control Holdings – a rapidly growing, leading U.S. provider of highly engineered flow control solutions and components for data center liquid cooling, a more energy efficient alternative to air cooling Dresser Utility Solutions – the leading North American provider of measurement (meters), control (regulators, pressure relief valves) and infrastructure repair products for gas and water utilities DarkVision – a provider of innovative, technology-enabled asset inspection services that enhance the safety, reliability and productivity of critical energy infrastructure Since January 2025, BETP has committed over $11 billion in new equity investments across the energy transition ecosystem. This includes transactions in critical energy equipment manufacturers (Maclean Power Systems, Delta Star, Power Grid Components, Arlington Industries, Advanced Cooling Technologies), essential services (Alliance Technical Group, Shermco), energy data analytics (Enverus) and highly-efficient natural gas-fired power infrastructure (Hill Top Energy Center, Wolf Summit Energy, and Potomac Energy Center).

In addition, BETP has successfully monetized several of its mature investments in predecessor funds over the same period, including:

Reaching an agreement to sell Aypa Power, a leading North American battery storage platform with a 6.0 GW portfolio of storage assets Selling a majority interest in Sabre Industries, a leading manufacturer of highly-engineered critical infrastructure for power utilities, telecom and data centers Completing the IPO of Legence (NASDAQ: LGN), a premier provider of specialty mechanical contracting and engineering services for mission critical data center, healthcare and high-specification C&I end markets About Blackstone Energy Transition Partners:

Blackstone Energy Transition Partners is Blackstone’s strategy for control-oriented equity investments in energy-related businesses, a leading energy investor with a successful long-term record, having committed over $34 billion of equity globally across a broad range of sectors within the energy industry. The strategy generally excludes investments in the ownership of hydrocarbon reserves and the extraction thereof. (The returns shown above similarly exclude such upstream investments despite the fact that earlier fund vintages were not managed to exclude such investments.) Blackstone Energy Transition Partners’ investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering more reliable, affordable and cleaner energy to meet the needs of the global community. In the process, Blackstone Energy Transition Partners builds stronger, larger scale enterprises, creates jobs and generates lasting value for its investors, employees and all stakeholders. Further information is available at https://www.blackstone.com/our-businesses/blackstone-energy-transition-partners/.

About Blackstone:

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

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, /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that it will launch Tungsten futures to meet rising demand for its metals complex, which registered record volume this year. Trading will start by early Q1 2027, pending all relevant regulatory reviews. 

With annual production between 85,000 and 95,000 metric tons, the global tungsten market is worth over $20 billion based on current spot prices. It has been identified as a critical mineral by the U.S., the E.U., Japan, India and others. Tungsten has an active spot market but lacks a futures market. 

The contract will be financially settled based on the Fastmarkets assessment for tungsten APT (Ammonium Paratungstate) duty unpaid basis CIF Rotterdam and Baltimore.

"Tungsten sits at the intersection of advanced manufacturing, semiconductor technologies and geopolitics, and our clients are increasingly seeking to hedge their exposure and improve price transparency," said Jin Hennig, Managing Director and Global Head of Metals at CME Group. "CME Group Tungsten futures will join our growing suite of critical minerals and energy transition metal products, providing clients more opportunities to manage risk as global supply chains restructure." 

"This contract is an important new tool to manage the commercial risks involved in the physical trading and logistics of tungsten," said Quentin Lamarche, CEO, TechMet SCM. "As critical mineral supply is at the forefront of every major economy, having transparent forward pricing will support reliable, long-term western supply chains."

"For our manufacturing clients, tungsten is essential to production but has been difficult to budget for without a forward market," said Maarten Gassmann, Managing Director, Grondmet. "This contract fills that gap, allowing them to plan their operations with greater cost certainty." 

"Growing volatility and concentrated supply are increasing the need for transparent, trusted price benchmarks in the tungsten market," said Raju Daswani, CEO of Fastmarkets. "The launch of this contract, based on Fastmarkets' tungsten APT assessment, is a significant step in the market's development, connecting physical-market price discovery with new opportunities to manage price risk." 

Trading in CME Group's metals business set a new record in the first nine months of 2026, with a total of 1.2 million contracts traded daily across precious and industrial metals activity, up 41% year-on-year. 

The new contract will be listed by and subject to the rules of COMEX. For more information, please visit here.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

About Fastmarkets

Fastmarkets is an industry-leading PRA and information provider for the agriculture, forest products, metals, carbon and energy transition markets. Its benchmark prices, analytics, forecasts, and insights are critical to customers seeking to trade, manage risk, and understand complex global markets. 

Fastmarkets was founded in 1913, with a heritage dating back to 1865 through several of its acquired brands. Fastmarkets employs more than 700 people worldwide, with offices across Europe, the Americas, and Asia. The company is privately held and backed by Astorg, a leading European private equity firm.

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SOURCE CME Group

BNB Chain wants your opinion on its next blockchain. The project has opened a dedicated community forum category for NewL1, a new Layer 1 network built for workloads that stretch beyond what BNB Smart Chain (BSC) can handle today.

The forum category first went live in July 2026. BNB Chain promoted it again on October 17 and 19, 2026, which means the conversation is heating up ahead of a planned testnet.

What NewL1 is supposed to do
NewL1 is a Layer 1, meaning it is a base blockchain with its own consensus and settlement. It is not a scaling add-on that sits on top of another chain.

It is also EVM-compatible. The Ethereum Virtual Machine is the software environment most smart contracts are written for. Compatibility means developers can bring existing code and tools over without starting from scratch.

The chain is aimed at three use cases: trading, payments and AI. The research specifically points to agentic AI trading, where software agents execute trades on their own rather than waiting for a human to click a button.

The performance targets are ambitious. BNB Chain is aiming for:

Sub-50 millisecond preconfirmations. A preconfirmation is an early signal that a transaction will be included, delivered before the block is fully settled.

More than 100,000 transactions per second. Throughput of that scale would let the network absorb heavy bursts of activity, the kind high-frequency trading and automated agents tend to generate.

Sub-second finality. Finality is the point at which a transaction can no longer be reversed.

No new token, and a feature aimed at front-runners
NewL1 does not plan to have a new token. The existing BNB token will serve as the sole gas token. Gas is the fee users pay to get transactions processed. So every transaction on NewL1 would be paid for in BNB.

The other headline feature is TxStream, a structure designed to reduce front-running risk. Front-running happens when someone sees your pending trade and jumps ahead of it to profit from the price move you were about to cause.

NewL1 is also slated to include privacy enhancements, which could further reduce how much information pending transactions leak to opportunistic actors.

A native bridge is planned to connect BSC and NewL1. That gives users and assets a built-in route between the two chains rather than relying on third-party bridging services.

The forum ground rules
The forum covers technical design questions, including tokenomics, consensus protocols and privacy features.

Tokenomics is an interesting item on the agenda for a chain that is not launching a token. The open question is how BNB itself will function in the new environment, which is a design problem even without a fresh asset.

BNB Chain has set ground rules to keep the discussion focused on technical development. Speculative price talk is off the table.

The timeline is relatively tight. A testnet is projected for late 2026, with mainnet expected in early 2027.

How BNB Chain got here
BNB Chain has grown into a multi-chain ecosystem anchored by BSC, known for low fees and a large amount of DeFi activity.

In 2023, the project launched opBNB, a Layer 2 scaling solution that sits on top of the main chain to handle extra transaction volume. NewL1 continues that expansion, but instead of scaling BSC, it builds a separate base layer tuned for specific tasks.

What this means
For BNB holders, the most concrete takeaway is the gas token decision. If NewL1 attracts trading, payments and AI activity, that usage would run on BNB rather than a competing asset.

The things to watch are the testnet launch in late 2026, early performance data against the sub-50 millisecond and sub-second finality goals, and how much of the forum feedback actually shows up in the final design.

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

Metric DEX has launched on BNB Chain, Ethereum and Robinhood Chain, using Chainlink Data Streams for oracle-based pricing instead of a traditional AMM model.

Metric, a decentralized exchange (DEX) built around oracle-based pricing, has gone live across @BNBChain, @Ethereum and @RobinhoodCrypto Chain. The platform uses @chainlink Data Streams for price data rather than relying only on the traditional automated market maker (AMM) model.

How Metric's pricing model worksMost AMMs set prices from the balance of assets inside their own liquidity pools. That design can leave liquidity providers exposed to arbitrage when pool prices lag the wider market. Metric takes a different route. According to Crypto Briefing, its DEX leans on external, verifiable price feeds instead of the internal state of liquidity pools to determine what an asset is worth.

Chainlink Data Streams uses a pull-based model. Crypto Briefing reports that price data is computed off-chain and delivered on demand with cryptographic proof. The same report says the setup also allows 24/7 trading of assets that normally move only during market hours, such as tokenized stocks and ETFs.

On BNB Chain, the focus is bStocks. Crypto Briefing reported that the BNB Chain launch landed on October 14, 2026, letting users trade and provide liquidity for bStocks, the BEP-20 tokens that represent US stocks and ETFs. The same contracts also run on Ethereum and Robinhood Chain.

Early traction and scaleMetric did not arrive from nowhere. Before its public DEX launch, the team reported more than $10 billion in cumulative trading volume, built while it operated in stealth across several chains, according to Crypto Briefing. Delphi Digital has also noted that aggregators route orders into Metric's pools, which helps explain how the platform handled large volume with a small capital base.

DefiLlama's Metric page lists total value locked (TVL) of about $3.98 million at the time of writing, alongside 30-day DEX volume of roughly $2.4 billion. TVL figures on the tracker move quickly and can differ from earlier snapshots, so readers should check the live dashboard for current numbers.

Metric remains small next to the largest DEXs by TVL, and the long-term test will be whether oracle-priced pools can keep attracting liquidity once launch interest fades. Still, the combination of external price feeds and 24/7 access to tokenized assets gives the project a clear angle in a growing part of DeFi. Traders interested in $LINK, $BNB and $ETH ecosystem activity may want to follow how it develops.

Sources:

Crypto Briefing: Metric launches new DEX with Chainlink Data Streams for pricingCrypto Briefing: BNB Chain users can now trade bStocks on Metric's new DEXDefiLlama: Metric TVL and volume

Visa has moved stablecoin prefunding on Visa Direct, its push-payments network, from pilot into commercial deployment. Payments processor Inyo Global is the first enabler, and its clients can now prefund cross-border payouts with USDC in near real time instead of relying only on traditional bank funding windows, according to Visa's October 15 release.

The stablecoin sits on the sender's side of the transaction. Inyo's platform pays out across more than 180 countries, and recipients still receive local currency. The release names USDC as the only stablecoin and does not identify the blockchains used, the corridors covered or any expected volumes. Availability "varies by eligibility and geography," the release says.

"The next chapter for stablecoins is adoption," said Vira Platonova, Global Head of Visa Direct. "We're now seeing those efforts translate into live implementations." Robson Dantas, Chief Product and Technology Officer and co-founder at Inyo Global, said: "Innovation in money movement is ultimately about creating a better experience for customers."

The production launch arrives a little over a year after Visa announced the prefunding pilot at Sibos in September 2025, when it said the pilot was expected to reach limited availability by April 2026.

Visa's own disclosures show its broader stablecoin numbers climbing quickly. At its Visa Payments Forum in June, the company put stablecoin settlement across VisaNet at an annualized run rate of approximately $7 billion and said more than 160 stablecoin-linked card programs were live or in development. By September 8, a Visa web page said settlement volume had "recently surpassed a $20 billion annualized run rate, up more than 15x year over year."

Those figures warrant some caution. Visa has not said what period the run rates are annualized from or how stablecoin settlement volume is counted.

The competitive picture has also shifted under Visa Direct. BVNK, which began powering stablecoin payments for Visa Direct in January, agreed in March to be acquired by Mastercard for up to $1.8 billion, including $300 million in contingent payments, in a deal expected to close by year-end.

Visa's fiscal year closed on September 30, and its fourth-quarter results will be the next opportunity for the company to put stablecoin settlement volume on a formal reporting footing and to name further Visa Direct partners going live.

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SAN FRANCISCO--(BUSINESS WIRE)--Williams-Sonoma, Inc. (NYSE: WSM), the world’s largest digital-first, design-led and sustainable home retailer, announced today that Lynn Martin has been appointed to the company’s Board of Directors. As current President of NYSE Group, a wholly owned subsidiary of Intercontinental Exchange, Inc. (NYSE: ICE), Martin leads the New York Stock Exchange, the world’s most iconic stock market and premier venue for capital raising. Martin also oversees NYSE’s equities and options exchanges and serves as Chair of ICE Fixed Income & Data Services. Throughout her career, Martin has held senior leadership roles across data, technology, and global financial markets, establishing extensive expertise in innovation, risk management, corporate governance, and highly regulated industries.

“Lynn is an exceptional leader who has built her career at the forefront of technology, data, and the capital markets,” said Laura Alber, President and Chief Executive Officer of Williams-Sonoma, Inc. “Her experience guiding complex, high-performing organizations will be invaluable as we continue to execute our growth strategies and create long-term value for our shareholders.”

Scott Dahnke, Williams-Sonoma, Inc.’s Board Chair, added “Lynn’s experience leading the New York Stock Exchange and understanding of public companies will bring an important perspective to our Board as we continue to support the company’s long-term growth. We look forward to the insight and experience she will bring to Williams-Sonoma, Inc.”

“Williams-Sonoma, Inc. has built one of the most admired portfolios of brands in retail and has set the standard in digital innovation, design, and customer engagement,” said Martin. “I’m proud to join the Board and look forward to working with Laura, the leadership team, and my fellow directors to drive its continued growth and long-term success.”

Prior to her current role, Martin served as President of Fixed Income & Data Services at ICE and President of ICE Data Services. She has also held leadership positions including Chief Operating Officer of ICE Clear U.S., Chief Executive Officer of NYSE Liffe U.S., and Chief Executive Officer of New York Portfolio Clearing. Martin began her career at IBM in its Global Services organization.

ABOUT WILLIAMS-SONOMA, INC.

Williams-Sonoma, Inc. (NYSE: WSM), a Fortune 500 and S&P 500 company, is the world’s largest digital-first, design-led and sustainable home retailer. The company’s brands — Williams Sonoma, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm, Williams Sonoma Home, Rejuvenation, Mark & Graham, GreenRow, and Dormify — represent distinct merchandise strategies that are marketed through e-commerce, direct-mail catalogs, retail stores, and business-to-business. These brands collectively support The Key Rewards, the company's loyalty and credit card program that offers members exclusive benefits. The company operates in the U.S., Puerto Rico, Canada, Australia, and the United Kingdom, and has unaffiliated franchisees that operate stores in Mexico, South Korea, India, and the Philippines.

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In recent years, investors have closely followed quantum computing. If successful, the technology could increase computing speeds exponentially.

The problem with this technology is the delicate nature of quantum bits (qubits) and high error rates. Such challenges mean that widespread commercial viability is likely several years away.

However, companies of all sizes are working to make the technology viable, and if successful, it could dramatically transform companies and the tech industry at large. Knowing this, if I could only invest $1,000, I would choose IonQ (IONQ -1.60%) as my quantum computing stock. Here's why.

Image source: Getty Images.

What about other quantum computing companies? To be clear, I regard this as one $1,000 investment within a diversified portfolio. IonQ is a risky choice, and I would consider this a speculative investment.

Long-time tech investors might remember that numerous internet information companies emerged before Google's parent company, Alphabet, became the dominant search engine. Likewise, the quantum computing industry is likely to undergo a similar shakeout.

This poses a significant risk to IonQ and to start-up peers such as Rigetti Computing and D-Wave Quantum. These companies, IonQ included, are all-in on the technology, and it is unclear how they will survive if they fail to become top players in the quantum computing industry.

For the more risk-averse investors, Alphabet and IBM are also quantum computing investment options. The fact that these are established tech businesses bodes well for the stocks. Still, they only earn a negligible amount of revenue from the technology, which makes it debatable whether one can call them "quantum computing stocks" in any meaningful sense.

IONQ IonQ$30.78-$0.50 (-1.60%)

NYSE · As of 4:00 PM ET 10/19/26

The state of IonQ IonQ's competitive advantages have also eased many of my concerns about the company. It has taken a different path than Google or IBM by utilizing trapped-ion technology. The trapped ions can hold their quantum states longer. That reduces error rates and differentiates the company from its more established competitors.

Moreover, it operates as a quantum-as-a-service (QaaS) model. Thus, it is the only provider natively integrated with Google Cloud, Microsoft's Azure Quantum, and Amazon's Braket.

Additionally, IonQ is a partner of the industry's top chip company, Nvidia. IonQ seems to be following Nvidia's playbook in quantum, which makes the agreement appropriate.

Under the terms of the deal, Nvidia will link its AI supercomputing rack with IonQ's Superion 256 system. They will also orchestrate joint workloads on Nvidia's CUDA-Q platform, allowing Nvidia's GPUs and IonQ's QPUs to work seamlessly with one another, giving it an edge over competitors.

Despite these attributes, IonQ remains financially risky. Even with a 412% yearly revenue increase in the first half of 2026, it experienced $273 million in negative free cash flow during the same period.

IonQ has more than $2.1 billion in liquidity for now. That would imply nearly four years' worth of liquidity at current burn rates. Still, with commercial viability years away, it may need to eventually issue more shares or debt.

Furthermore, its valuation bears little relation to its condition. Its price-to-sales (P/S) ratio is 44, and the 26 forward P/S ratio offers little comfort to those looking for a better value.

However, if IonQ successfully leverages its competitive advantages and partnerships, the stock could experience considerable gains over time. That alone could make it worthwhile to risk $1,000 on IonQ's future.

Moving forward with IonQ stock It could be worth it for risk-tolerant investors to invest $1,000 in IonQ stock.

As a start-up, IonQ is not in a strong financial position, and since it has no obvious Plan B if it fails to succeed in quantum computing, investors face a serious risk of losing their investments.

Nonetheless, many investors are comfortable taking a $1,000 chance on a speculative stock within a diversified portfolio. Despite its limited resources, it has shown promising results using its trapped-ion technology. Moreover, the fact that it persuaded Nvidia to partner with it dramatically increases its chance of success.

Ultimately, if one has the appetite for risk and the foresight to back a technology with limited commercial viability in the foreseeable future, it may be worth taking a chance on IonQ stock.

NEAR Intents handled about $10.4 billion in Q3 2026, and NEAR Protocol is retaining a larger share of swap fees to fund $NEAR buybacks.

NEAR Protocol is capturing a growing share of the fees generated by its cross-chain swap product. @near_intents handled about $10.4 billion in volume in the third quarter, bringing lifetime volume to more than $32 billion, according to @NEARProtocol's Q3 report.

Lifetime fees topped $52 million, and more than $8 million of that went toward buying back $NEAR.

Retained share of fees risesThe portion of Intents fees that NEAR keeps reached 16.4% over its lifetime as of October 6. That compares with 11.5% in the second-quarter report. Over the past 30 days, the retained rate stood at 28.4%.

The distinction matters because the fees charged on swaps are not all kept by the protocol. DefiLlama's methodology separates gross fees, which include the protocol fee plus the affiliate fee each front end collects, from the revenue NEAR itself captures. According to DefiLlama, NEAR's captured Intents revenue has been used to buy back $NEAR on the open market since February 23, 2026, and the tokens are not burned.

Buybacks in contextBuyback activity has picked up alongside volume. Altcoin Buzz, citing DefiLlama data, reported that September's $1.84 million was the biggest monthly buyback so far. Different trackers count the buyback total differently, depending on whether they measure tokens or dollars and which wallets they include.

Some market participants have urged caution on what buybacks can achieve. Sal Ternullo, CEO of Nasdaq-listed NEAR treasury company SVRN, said on the Bankless podcast that buybacks are real, but that the network was issuing more than six times as much new NEAR as was bought back over the prior 30 days, according to Yahoo Finance. He also floated a governance proposal to cut maximum annual issuance from 2.5% to 1.6%.

For now, the Q3 figures show both swap volume and the protocol's retained share moving higher. Whether that is enough to offset token issuance will depend on how long volume stays elevated.

SourcesDefiLlama: NEAR Intents TVL, fees, revenue and volume
Altcoin Buzz: NEAR Intents buyback hits $6.68M
Yahoo Finance: NEAR treasury firm CEO on buybacks and issuance

Solana has shipped version 3 of its JavaScript SDK, and it is the kind of upgrade developers notice in their codebases before anyone notices it on a chart.

The release, @solana/web3.js v3, was announced on October 6, 2026, via the @solana_devs account on X. Its pitch is simple: smaller app bundles, cleaner dependencies and one consistent way to build JavaScript apps on Solana.

That matters because the SDK sits underneath a huge share of Solana apps. Packages tied to it logged over 3 million downloads in a recent week, so any change here ripples outward fast.

What changed in web3.js v3
The SDK rebuilds nine legacy web3.js classes on top of Solana Kit, the newer toolkit Solana introduced in February 2025. The familiar class names stay the same, preserving backward compatibility with established naming. What changed is the plumbing underneath, which now runs on Kit’s more modern foundation.

The goal, per the release, is to cut bundle sizes and simplify the dependency structure. The update also aims for consistent interfaces across three core building blocks: signers, clients and codecs.

The breaking changes developers need to know
Version 3 introduces several breaking changes. Methods which previously ran synchronously now run asynchronously. Functions like Keypair.generate() are affected, meaning code that expected an instant answer will now have to wait for a promise to resolve.

Numeric values must now use bigint, JavaScript’s type for arbitrarily large integers. Account data, meanwhile, moves to Uint8Array, a standard format for raw binary data.

A new wallet adapter package also arrives alongside the SDK. On compatibility, v3 supports Node.js 20.18 and above, modern browsers and React Native. The release also brings improved validation and transaction handling.

Release timeline and the fate of v1
Version 3.0.0 was tagged on GitHub on October 1, followed by a maintenance release, v3.0.1, on October 5. The public announcement came a day after that.

The legacy version 1 now moves to maintenance-only status. Version 3.0.0 is expected to be tagged as “latest” around October 19, 2026. Once that switch happens, new projects will start on v3 automatically.

Why this matters for Solana’s ecosystem
This update grows out of the Solana Kit tools introduced in February 2025. By rebuilding the classic classes on Kit, it gives existing developers a migration path that keeps the vocabulary they know.

The async shift and the move to bigint and Uint8Array mean migration work, testing time and the occasional bug that only shows up in production. For new projects, starting on v3 after it becomes the default around October 19 should be the easier path, since they will not carry legacy code to unwind.

What to watch next: how quickly major Solana projects migrate, whether the October 19 default switch surfaces new issues, and how the new wallet adapter package gets picked up across apps. With download counts in the millions each week, even a modest migration rate would put v3 in front of a large slice of the ecosystem fairly quickly.

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

Suit alleges Fluence Energy, Inc. failed to disclose key facts to investors from November 24, 2025 through September 16, 2026; lead plaintiff deadline is November 30, 2026

, /PRNewswire/ -- The Law Offices of Howard G. Smith today reported that a securities class action lawsuit is pending against Fluence Energy, Inc. ("Fluence" or the "Company") (NASDAQ: FLNC) on behalf of investors who acquired its securities from November 24, 2025 through September 16, 2026. The Fluence Energy, Inc. case, Hatweek v. Fluence Energy, Inc., et al., was filed on September 28, 2026 in the U.S. District Court for the Southern District of New York (Case No. 1:26-cv-08475).

Investors with losses on Fluence Energy, Inc. securities can contact the Law Offices of Howard G. Smith about the Fluence Energy, Inc. lawsuit before the November 30, 2026 lead plaintiff deadline.

Key deadlines and dates for Fluence Energy, Inc. investors

Lead plaintiff deadline: November 30, 2026
Class period: November 24, 2025 through September 16, 2026
Complaint filed: September 28, 2026

What happened?

On February 4, 2026, after the market closed, Fluence reported first quarter 2026 financial results, including a GAAP gross profit margin of approximately 4.9%, a 6.5 percentage point decline year over year, due to "additional estimated costs on two projects." Further, net losses also increased to $62.6 million, compared to a net loss of approximately $57.0 million for the same quarter last year. Nonetheless, the Company continued to allege that its growth was being fueled by "accelerating data center growth, utility demand and rising industrial loads" and the Company has "been preparing for this inflection in growth with our expanded sales effort, global supply chain and domestic content strategy, which are driving our ability to deliver competitive products to customers around the world."

On this news Fluence Energy stock fell $10.04 per share or 34.63%, to close at $18.95 per share on February 5, 2026, thereby injuring investors.

Then, on August 5, 2026, after the market closed, Fluence Energy announced third quarter financial results, including that revenue of $6.49.8 million was "weaker than expected, primarily reflecting production delays at new contract manufacturing facilities." Further the Company reported "adjusted gross profit margin of approximately 5.9%, compared to approximately 15.4% in the same quarter last year, primarily reflecting the impact of delays to revenue." The Company concluded that it "now expects that $400.0 million in project deliveries will be delayed into fiscal 2027 due to production issues at a new international contract manufacturing facility and construction related delays that affected the completion and start-up of a new U.S. contract manufacturing facility." As a result, the Company slashed its guidance, cutting its fiscal year 2026 revenue guidance by $0.4 billion at the midpoint, and its adjusted EBITDA guidance by $60 million at the midpoint, a -120% change.

On this news Fluence Energy stock fell $1.02 per share or 7.17%, to close at $13.21 per share on August 6, 2026, thereby further injuring investors.

Finally, on September 16, 2026, after the market closed, Fluence Energy announced a mid-quarter guidance update, revealing that, among other things, the Company was cutting its full year revenue guide again, this time by approximately $0.6 billion, to $2.4 billion. The Company also dramatically cut its full year adjusted EBITDA guide from negative $10 million, to negative $200 million. The Company attributed the revision to ongoing "delays in the rampup of our contract manufacturing facility."

On this news Fluence Energy stock fell $1.39 per share or 15.36%, to close at $7.66 per share on September 17, 2026, further injuring investors.

What is the Fluence Energy, Inc. lawsuit about?

The Fluence Energy, Inc. securities lawsuit alleges that, between November 24, 2025 and September 16, 2026, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Fluence Energy, Inc.'s business, operations, and prospects. Specifically, the complaint alleges defendants failed to disclose that: (1) the Company's ability to deliver its backlog and recognize the revenue underlying its fiscal 2026 guidance depended on new contract manufacturing facilities, including facilities that were not completed, not operational, and/or not capable of producing at the volumes the guidance assumed; (2) the corrective measures the Company had implemented to address production problems at its contract manufacturers were not remediating those problems, which persisted and extended to the Company's new facilities; (3) as a result, a material portion of the backlog that Defendants represented as "securing" or "covering" the Company's fiscal 2026 revenue guidance were likely to be delivered and recognized in fiscal 2026; and (4) as a result, defendants' positive statements about Fluence Energy, Inc.'s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

"The lawsuit against Fluence Energy, Inc. alleges that, among other things, the Company failed to tell investors that the Company's ability to deliver its backlog and recognize the revenue underlying its fiscal 2026 guidance depended on new contract manufacturing facilities, including facilities that were not completed, not operational, and/or not capable of producing at the volumes the guidance assumed. Fluence Energy, Inc. investors who bought during the class period may be able to pursue their losses, and the November 30, 2026 deadline is where that process begins," said Howard G. Smith of The Law Offices of Howard G. Smith.

Next steps for Fluence Energy, Inc. investors

Fluence Energy, Inc. investors who suffered losses may contact The Law Offices of Howard G. Smith to learn about pursuing their claims.

Lead plaintiff motions in the Fluence Energy, Inc. class action are due to the Court by November 30, 2026. For more information, visit the firm's website, email [email protected], or call (215) 638-4847.

If you purchased Fluence Energy, Inc. securities during the class period, you may retain counsel of your choice, or you may take no action and remain an absent class member. No class has been certified in the Fluence Energy, Inc. case so far.

Common questions from Fluence Energy, Inc. investors

Who is eligible? Investors who acquired Fluence Energy, Inc. securities from November 24, 2025 through September 16, 2026 and suffered losses may qualify for the class in the Fluence Energy, Inc. shareholder lawsuit.

What is the deadline? Lead plaintiff motions in the Fluence Energy, Inc. case are due by November 30, 2026.

Can I recover without being lead plaintiff? Yes, Fluence Energy, Inc. investors may take no action and remain absent class members.

Does it cost anything? The Law Offices of Howard G. Smith works on contingency, so investors pay no attorneys' fees unless there is a recovery, and any fees require court approval.

About The Law Offices of Howard G. Smith

The Law Offices of Howard G. Smith has helped injured investors recover their money for more than 15 years. The firm prosecutes securities fraud, takeover, and derivative litigation against public companies and their officers, directors, and advisors in federal and state courts nationwide, and has helped clients recover hundreds of millions of dollars in losses. Clients speak directly with a lawyer, who will promptly answer any question.

Prior results do not guarantee a similar outcome.

Related links

Fluence Energy, Inc. case page, The Law Offices of Howard G. Smith
Complaint: Hatweek v. Fluence Energy, Inc., et al., U.S. District Court for the Southern District of New York
press release
Fluence Energy, Inc. SEC filings index, EDGAR
The Law Offices of Howard G. Smith

Contact
Howard G. Smith
The Law Offices of Howard G. Smith
3070 Bristol Pike, Suite 112
Bensalem, PA 19020
Email: [email protected]
Telephone: (215) 638-4847
www.howardsmithlaw.com

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

SOURCE Law Offices of Howard G. Smith

GUADALAJARA, Mexico, Oct. 19, 2026 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) reports its consolidated results for the third quarter ended September 30, 2026 (3Q26). The results presented in this report include the effects of the business combination effective May 1, 2026. The figures are unaudited and have been prepared following International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

Summary of Results 3Q26 vs. 3Q25

The sum of aeronautical and non-aeronautical services revenues increased by Ps. 1,041.6 million, or 13.2%. Total revenues increased by Ps. 2,091.2 million, or 21.8%. Excluding the impact of the incorporation of Cross Border Xpress (“CBX”) operations, aeronautical and non-aeronautical services revenues would have increased by Ps. 266.1 million, or 3.4%, while total revenues would have increased by Ps. 1,315.7 million, or 13.7%.Cost of services increased by Ps. 409.2 million, or 26.8%. Excluding the impact of the incorporation of CBX operations, the cost of services would have increased by Ps. 192.5 million, or 12.6%.Income from operations increased by Ps. 897.7 million, or 21.6%. Excluding the contribution from CBX operations, operating income would have increased by Ps. 382.4 million, or 9.2%.EBITDA increased by Ps. 979.0 million, or 19.2%, an increase from Ps. 5,085.6 million in 3Q25 to Ps. 6,064.6 million in 3Q26. EBITDA margin (excluding the effects of IFRIC-12) went from 64.3% in 3Q25 to 67.8% in 3Q26. Comprehensive income increased by Ps. 807.3 million, or 32.8%, from an income of Ps. 2,457.8 million in 3Q25 to an income of Ps. 3,265.1 million in 3Q26. Business Combination:

As of May 1, 2026, GAP’s consolidated results reflect the effects of the business combination, which included the integration of CBX operations and the internalization of technical assistance and technology transfer services. This transaction was approved by the Shareholders’ Meeting held on December 11, 2025, and formalized through the execution of the merger agreement signed on April 30, 2026.

The Company is currently in the process of determining the fair values of the assets acquired and liabilities assumed as a result of the business combination. Accordingly, the amounts related to this transaction presented in the consolidated financial statements included in this report are preliminary and subject to adjustment.

Passenger Traffic

During 3Q26, the 14 airports operated by GAP recorded a decrease of 222.0 thousand total passengers, representing a 1.4% decrease compared to 3Q25.

During this period, the following new routes were inaugurated:

Domestic     AirlineDepartureArrivalOpening dateFrequenciesVivaManzanilloSanta LucíaJuly 2, 20263 weeklyMexicanaHermosilloSanta LucíaJuly 20, 20266 weeklyMexicanaGuanajuatoSanta LucíaJuly 20, 20266 weekly       Note: Frequencies can vary without prior notice.

International     AirlineDepartureArrivalOpening dateFrequenciesLiat AirMontego BayGuadeloupeJuly 19, 20262 weekly       Note: Frequencies can vary without prior notice.

 Domestic Terminal Passengers – 14 airports (in thousands):  Airport3Q253Q26Change9M259M26ChangeGuadalajara3,183.13,361.45.6%9,295.29,583.03.1%Tijuana*2,237.32,145.6(4.1%)6,434.06,087.8(5.4%)Los Cabos762.1793.94.2%2,170.72,145.5(1.2%)Puerto Vallarta870.7843.6(3.1%)2,354.62,267.6(3.7%)Montego Bay0.00.0(100.0%)0.00.0(100.0%)Guanajuato575.9573.3(0.5%)1,668.31,617.9(3.0%)Hermosillo537.1516.8(3.8%)1,591.31,494.6(6.1%)Kingston0.80.4(48.2%)1.01.327.9%Morelia208.5191.6(8.1%)567.7556.3(2.0%)La Paz347.2372.77.4%955.91,044.19.2%Mexicali330.4284.1(14.0%)929.2808.4(13.0%)Aguascalientes164.0188.014.6%483.2487.70.9%Los Mochis178.5177.9(0.3%)522.9516.7(1.2%)Manzanillo31.537.318.5%97.698.61.0%Total9,427.19,486.70.6%27,071.626,709.5(1.3%) International Terminal Passengers – 14 airports (in thousands):      3Q253Q26Change9M259M26ChangeGuadalajara1,502.01,698.813.1%4,396.24,689.86.7%Tijuana*974.61,049.17.7%3,041.22,896.8(4.7%)Los Cabos893.2748.7(16.2%)3,500.53,205.7(8.4%)Puerto Vallarta498.3374.6(24.8%)2,819.92,272.6(19.4%)Montego Bay1,243.6957.7(23.0%)3,847.22,866.9(25.5%)Guanajuato266.4261.2(1.9%)782.1741.2(5.2%)Hermosillo19.121.110.1%59.364.48.6%Kingston528.2534.61.2%1,409.71,384.8(1.8%)Morelia195.7196.80.6%525.7604.214.9%La Paz7.98.79.8%25.534.033.5%Mexicali1.92.16.5%5.55.84.0%Aguascalientes89.585.9(4.1%)245.7248.11.0%Los Mochis2.22.827.2%6.16.711.5%Manzanillo10.29.1(11.0%)72.462.1(14.2%)Total6,232.75,951.1(4.5%)20,736.919,083.0(8.0%)         *CBX users are classified as international passengers.

Total Terminal Passengers – 14 airports (in thousands):Airport3Q253Q26Change9M259M26ChangeGuadalajara4,685.15,060.28.0%13,691.414,272.94.2%Tijuana*3,211.93,194.8(0.5%)9,475.28,984.6(5.2%)Los Cabos1,655.31,542.6(6.8%)5,671.15,351.2(5.6%)Puerto Vallarta1,369.01,218.3(11.0%)5,174.54,540.2(12.3%)Montego Bay1,243.6957.7(23.0%)3,847.22,866.9(25.5%)Guanajuato842.3834.5(0.9%)2,450.42,359.1(3.7%)Hermosillo556.2537.9(3.3%)1,650.51,559.0(5.5%)Kingston529.1535.01.1%1,410.71,386.0(1.8%)Morelia404.2388.4(3.9%)1,093.41,160.56.1%La Paz355.1381.47.4%981.41,078.29.9%Mexicali332.3286.1(13.9%)934.7814.1(12.9%)Aguascalientes253.6273.98.0%728.9735.81.0%Los Mochis180.7180.7(0.0%)529.0523.5(1.0%)Manzanillo41.646.311.3%170.0160.7(5.4%)Total15,659.815,437.8(1.4%)47,808.545,792.6(4.2%)         *CBX users are classified as international passengers.

CBX Users (in thousands):       Airport3Q253Q26Change9M259M26ChangeTijuana954.41,034.38.4%2,984.02,856.4(4.3%) Consolidated Results for the Third Quarter (in thousands of pesos):      3Q253Q26ChangeRevenues   Aeronautical services5,474,0435,616,0032.6%Non-aeronautical services2,431,4803,331,08737.0%Improvements to concession assets (IFRIC-12)1,671,0602,720,72862.8%Total revenues9,576,58311,667,81821.8%    Operating costs   Costs of services:1,525,5501,934,78926.8%Employee costs633,119714,24812.8%Maintenance307,625358,30416.5%Safety, security & insurance243,706280,58115.1%Utilities174,887171,364(2.0%)Professional services43,38352,05220.0%Business operated directly by us84,69787,6143.4%Other operating expenses38,133169,927345.6%CBX operating expenses-  100,699100.0%    Technical assistance fees226,32243,001(81.0%)Concession taxes1,075,399926,781(13.8%)Depreciation and amortization935,6831,016,9058.7%Cost of improvements to concession assets (IFRIC-12)1,671,0602,720,72862.8%Other (income)(7,397)(22,067)198.3%Total operating costs5,426,6176,620,13722.0%Income from operations4,149,9665,047,68121.6%Financial Result(661,828)(1,043,083)57.6%Income before income taxes 3,488,1384,004,59814.8%Income taxes(792,158)(1,090,497)37.7%Net income 2,695,9802,914,1018.1%Currency translation effect(231,955)352,888(252.1%)Cash flow hedges, net of income tax2,692-  (100.0%)Remeasurements of employee benefit – net income tax(8,929)(1,869)(79.1%)Comprehensive income 2,457,7883,265,12032.8%Non-controlling interest(96,975)(163,201)68.3%Comprehensive income attributable to controlling interest2,360,8133,101,91931.4%         3Q253Q26ChangeEBITDA5,085,6496,064,58619.2%Comprehensive income2,457,7883,265,12030.9%Comprehensive income per share (pesos)4.86425.487412.8%Comprehensive income per ADS (US dollars)2.69323.038312.8%    Operating income margin43.3%43.3%(0.2%)Operating income margin (excluding IFRIC-12)52.5%56.4%7.5%EBITDA margin53.1%52.0%(2.1%)EBITDA margin (excluding IFRIC-12)64.3%67.8%5.4%Costs of services and improvements / total revenues34.5%39.9%15.5%Cost of services / total revenues (excluding IFRIC-12)20.7%21.6%4.4%         - Net income and comprehensive income per share for 3Q26 and 3Q25 were calculated based on 595,018,195 shares outstanding as of September 30, 2026, and 505,277,464 as of September 30, 2025, respectively. Figures in U.S. dollar were converted from pesos using an exchange rate of Ps. 18.0609 per U.S. dollar, as published by the U.S. Federal Reserve Board (noon buying rate) on September 30, 2026.

- For consolidating the Jamaican airports and CBX, an average exchange rate of Ps. 17.2497 per U.S. dollar was used, corresponding to the three-month period ended September 30, 2026.

Revenues (3Q26 vs. 3Q25)

Aeronautical services revenues increased by Ps. 142.0 million, or 2.6%.Non-aeronautical services revenues increased by Ps. 899.6 million, or 37.0%.Revenues from improvements to concession assets increased by Ps. 1,049.6 million, or 62.8%.Total revenues increased by Ps. 2,091.2 million, or 21.8%. The change in aeronautical services revenues was primarily due to the following factors:

Revenues from the Mexican airports increased by Ps. 247.7 million, or 5.3%, compared to 3Q25, primarily driven by the gradual implementation of the maximum tariffs approved for the 2025–2029 regulatory period and an increase in passenger traffic of 0.4%. This growth was partially offset by the 7.5% appreciation of the Mexican peso against the U.S. dollar, which negatively impacted revenues from international tariffs denominated in U.S. dollars.Revenues from the Jamaican airports decreased by Ps. 105.7 million, or 12.7%, compared to 3Q25, mainly due to a 15.8% decrease in passenger traffic during the quarter. In addition, the appreciation of the Mexican peso against the U.S. dollar negatively affected the translation of revenues. The change in non-aeronautical services revenues was primarily driven by the following factors:

Revenues from the Mexican airports increased by Ps. 163.2 million, or 7.6%, compared to 3Q25. Revenues from businesses operated directly by us increased by Ps. 164.0 million, or 14.2%, while revenues from businesses operated by third parties decreased by Ps. 0.8 million, or 1.4%. Revenues from the Jamaican airports decreased by Ps. 39.1 million, or 13.2%, compared to 3Q25, primarily due to the decline in passenger traffic and the peso appreciation against the U.S. dollar during 3Q26. Revenues generated by CBX amounted to Ps. 775.5 million, equivalent to US$44.6 million. During this period, a total of 1,034,274 passengers used the facilities in both directions, representing an average revenue of US$43.1 per user. Non-aeronautical revenues for the Third Quarter (in thousands of pesos):     3Q253Q26ChangeBusinesses operated by third parties:   Food and beverage321,111318,723(0.7%)Car rental216,384206,567(4.5%)Retail182,824181,566(0.7%)Duty-free193,930170,145(12.3%)Leasing of space98,210109,90211.9%Timeshares64,40960,594(5.9%)Ground transportation43,38440,808(5.9%)Other commercial revenues37,08537,8402.0%Communications and financial services29,79125,391(14.8%)Total1,187,1281,151,536(3.0%)    Businesses operated directly by us:   CBX revenues-  775,507100.0%Cargo operation and bonded warehouse558,941674,77720.7%Car parking194,318202,3594.1%Convenience stores158,158176,50411.6%VIP Lounges152,028160,5615.6%Advertising71,44584,45318.2%Hotel operation48,89247,045(3.8%)Total1,183,7832,121,20679.2%Recovery of costs60,56958,346(3.7%)Total Non-aeronautical Revenues 2,431,4803,331,08737.0%     Figures expressed in thousands of Mexican pesos.

‐        Revenues from improvements to concession assets 1

Revenues from improvements to concession assets (IFRIC-12) increased by Ps. 1,049.6 million, or 62.8%, compared to 3Q25. The change was composed of:

Improvements to concession assets at the Company’s Mexican airports, increased by Ps.970.3 million, or 66.8%, in line with the investments committed under the Master Development Program for the 2025–2029 period.Improvements to concession assets at the Company’s Jamaican airports, which increased by Ps. 79.4 million, or 36.3%, primarily due to investments at Kingston Airport. 1 Revenues from improvements to concession assets are recognized in accordance with International Financial Reporting Interpretation Committee 12 “Service Concession Arrangements” (IFRIC 12). However, this recognition does not have a cash impact or impact on the Company’s operating results. Amounts included as a result of the recognition of IFRIC 12 are related to construction of infrastructure in each quarter to which the Company has committed. This is in accordance with the Company’s Master Development Programs in Mexico and Capital Development Programs in Jamaica. All margins and ratios calculated using “Total Revenues” include revenues from improvements to concession assets (IFRIC 12), and, consequently, such margins and ratios may not be comparable to other ratios and margins, such as EBITDA margin, operating margin or other similar ratios that are calculated based on those results of the Company that do have a cash impact.

Total operating costs increased by Ps. 1,193.5 million, or 22.0%, compared to 3Q25, mainly due to Ps. 1,049.6 million, or 62.8%, increase in the cost of improvements to concession assets (IFRIC 12); a Ps. 409.2 million, or 26.8%, increase in cost of services; and a Ps. 81.2 million, or 8.7%, increase in depreciation and amortization. These increases were partially offset by Ps. 183.3 million, or 81.0%, decrease in technical assistance fees, and Ps. 148.6 million decrease in concession fees, or 13.8%. Excluding the cost of improvements to concession assets (IFRIC 12), operating expenses increased by Ps. 143.9 million, or 3.8%, compared to 3Q25.

The changes in total operating costs were primarily due to the following factors:

Mexican airports: 

Operating costs increased by Ps. 993.0 million, or 22.7%, compared to 3Q25, primarily due to a Ps. 970.3 million increase in the cost of improvements to concession assets (IFRIC 12); a Ps. 223.8 million increase in cost of services; and a Ps. 42.1 million increase in depreciation and amortization. These increases were partially offset by Ps. 183.3 million decrease in technical assistance fees, and Ps. 46.0 million in concession fees.
The change in the cost of services at our Mexican airports during 3Q26 was mainly due to:

Employee costs increased by Ps. 84.7 million, or 14.8%, mainly due to an increase in operational personnel at the airports and bonded warehouse, as well as salary adjustments.Maintenance increased by Ps. 35.2 million, or 13.5%, mainly due to the opening of new operational areas, and airfield maintenance.Safety, security, and insurance increased by Ps. 24.0 million, or 13.1%, mainly due to an increase in security personnel headcount, minimum wage adjustments, and higher insurance costs related to goods safeguarded within the bonded warehouse. Jamaican Airports:

Operating expenses decreased by Ps. 58.5 million, or 4.2%, compared to 3Q25, mainly due to a decrease of Ps. 102.6 million, or 22.7%, in concession fees, resulting from lower revenues at Montego Bay airport; a Ps. 31.3 million, or 13.6%, decrease in cost of services; and a Ps. 3.8 million, or 2.7%, decrease in depreciation and amortization. These decreases were partially offset by Ps. 79.4 million, or 36.3%, increase in the cost of improvements to concession assets (IFRIC 12). Cross Border Xpress:

CBX’s operating expenses amounted to Ps. 260.2 million during 3Q26, primarily consisting of cost of services of Ps. 216.7 million and depreciation and amortization of Ps. 42.9 million. Operating income margin remained at 43.3% in both quarters. Excluding the effects of IFRIC-12, the operating income margin increased from 52.5% in 3Q25 to 56.4% in 3Q26. Income from operations increased by Ps. 897.7 million, or 21.6%, compared to 3Q25, with CBX contributing Ps. 515.3 million.

EBITDA margin decreased from 53.1% in 3Q25 to 52.0% in 3Q26. Excluding the effects of IFRIC-12, EBITDA margin increased from 64.3% in 3Q25 to 67.8% in 3Q26. EBITDA increased by Ps. 979.0 million, or 19.2%, compared to 3Q25. EBITDA margin growth, excluding the effects of IFRIC 12, was partially offset by the impact on the Jamaican airports from the appreciation of the Mexican peso and lower passenger traffic. CBX contributed Ps. 558.2 million, with an EBITDA margin of 72.0%.

Financial results increased expenses by Ps. 381.3 million, or 57.6%, going from a net expense of Ps. 661.8 million in 3Q25 to a net expense of Ps. 1,043.1 million in 3Q26. This change was mainly the result of:

Foreign exchange gains increased from Ps. 60.9 million in 3Q25 to Ps. 114.1 million in 3Q26, resulting in an additional foreign exchange gain of Ps. 53.2 million due to the appreciation of the Mexican peso. Additionally, the foreign currency translation effect resulted in a gain of Ps. 584.8 million.Interest expense increased by Ps. 473.9 million, or 41.8%, compared to 3Q25, primarily due to higher debt levels to finance airport CAPEX and the acquisition of a 25% equity interest in CBX.Interest income increased by Ps. 38.9 million, or 18.2%, compared to 3Q25, mainly due to the increase in cash and cash equivalents. In 3Q26, net and comprehensive income increased by Ps. 807.3 million, or 32.8%, compared to 3Q25, primarily driven by a Ps. 516.5 million, or 14.8%, increase in income before taxes, mainly attributable to the increase in EBITDA, as previously described.

Net income increased by Ps. 218.1 million, or 8.1%, compared to 3Q25. Income tax increased by Ps. 298.3 million, or 37.7%, reflecting a Ps. 129.1 million increase in current income tax and a Ps. 169.2 million decrease in the deferred tax benefit. This was mainly attributable to a lower inflationary effect, as inflation decreased from 0.7% in 3Q25 to 0.4% in 3Q26, and a Ps. 88.4 million decrease in the recognition of tax loss carryforwards compared to the same quarter of 2025.

Consolidated Results for the Nine Months (in thousands of pesos):     9M259M26ChangeRevenues   Aeronautical services17,236,36417,428,5721.1%Non-aeronautical services7,268,0148,897,27822.4%Improvements to concession assets (IFRIC-12)7,009,3858,001,30414.2%Total revenues31,513,76234,327,1558.9%    Operating costs   Costs of services:4,545,8885,403,13818.9%Employee costs1,885,2032,168,36715.0%Maintenance821,358935,62113.9%Safety, security & insurance691,429774,34912.0%Utilities448,850445,591(0.7%)Professional services149,446193,93829.8%Business operated directly by us258,665276,5706.9%Other operating expenses290,936437,51150.4%CBX operating expenses-  171,191100.0%    Technical assistance fees731,90177,858(89.4%)Concession taxes3,052,3802,789,402(8.6%)Depreciation and amortization2,793,2172,929,2814.9%Cost of improvements to concession assets (IFRIC-12)7,009,3858,001,30414.2%Other (income)(43,542)36,698(184.3%)Total operating costs18,089,22919,237,6826.3%Income from operations13,424,53315,089,47312.4%Financial Result(2,324,863)(2,712,625)16.7%Income before income taxes 11,099,67012,376,84911.5%Income taxes(2,890,438)(3,257,230)12.7%Net income 8,209,2349,119,61911.1%Currency translation effect(730,540)(55,268)(92.4%)Cash flow hedges, net of income tax4,584-  (100.0%)Remeasurements of employee benefit – net income tax23,83716,842(29.3%)Comprehensive income 7,507,1149,081,19321.0%Non-controlling interest(302,853)(404,575)33.6%Comprehensive income attributable to controlling interest7,204,2638,676,61820.4%         9M259M26ChangeEBITDA16,217,75018,018,75511.1%Comprehensive income7,507,1149,081,19321.0%Comprehensive income per share (pesos)14.857415.26202.7%Comprehensive income per ADS (US dollars)8.22638.45032.7%    Operating income margin42.6%44.0%3.2%Operating income margin (excluding IFRIC-12)54.8%57.3%4.6%EBITDA margin51.5%52.5%2.0%EBITDA margin (excluding IFRIC-12)66.2%68.4%3.4%Costs of services and improvements / total revenues37.0%39.0%5.6%Cost of services / total revenues (excluding IFRIC-12)19.0%20.5%8.3%         - Net income and comprehensive income per share for 9M26 and 9M25 were calculated based on 595,018,195 and 505,277,464 shares outstanding, respectively. U.S. dollar figures were converted from pesos using an exchange rate of Ps. 18.0609 per U.S. dollar, as published by the U.S. Federal Reserve Board (noon buying rate) on September 30, 2026.

- For the purpose of consolidating Jamaican airports and CBX, an average exchange rate of Ps. 17.4043 per U.S. dollar was used, corresponding to the nine months ended September 30, 2026.

Revenues (9M26 vs. 9M25)

Aeronautical services revenues increased by Ps. 192.2 million, or 1.1%.Non-aeronautical services revenues increased by Ps. 1,629.3 million, or 22.4%.Revenues from improvements to concession assets increased by Ps. 991.9 million, or 14.2%.Total revenues increased by Ps. 2,813.4 million, or 8.9%. The change in aeronautical services revenues comprised primarily of the following factors:

Revenues from the Mexican airports increased by Ps. 688.4 million, or 4.7%, compared to 9M25, primarily due to the gradual implementation of the maximum tariffs approved for the 2025–2029 regulatory period. This effect was partially offset by the 10.9% appreciation of the Mexican peso against the U.S. dollar and a 2.4% decline in passenger traffic.Revenues from the Jamaican airports decreased by Ps. 496.2 million, or 19.3%, compared to 9M25, mainly due to a 19.1% decline in passenger traffic, as well as the appreciation of the Mexican peso against the U.S. dollar. The change in non-aeronautical services revenues comprised primarily of the following factors:

Revenues from the Mexican airports increased by Ps. 550.6 million, or 8.6%, compared to 9M25, primarily driven by a Ps. 553.8 million, or 17.1%, increase in revenues from businesses operated directly by us.Revenues from the Jamaican airports decreased by Ps. 164.9 million, or 18.3%, compared to 9M25, mainly due to lower passenger traffic and the appreciation of the Mexican peso against the U.S. dollar.CBX generated total revenues of Ps. 1,243.6 million, equivalent to US$71.5 million, during the May to September 2026 period. During this period, a total of 1,660,698 passengers used the CBX facilities in both directions, resulting in average revenue of US$43.1 per user. Non-aeronautical revenues for the Nine Months (in thousands of pesos):     9M259M26ChangeBusinesses operated by third parties:   Food and beverage 1,006,370997,741(0.9%)Car rental632,809632,312(0.1%)Retail565,429549,433(2.8%)Duty-free 618,776523,271(15.4%)Leasing of space328,068321,027(2.1%)Timeshares203,132185,689(8.6%)Other commercial revenues168,120173,9163.4%Ground transportation151,152140,876(6.8%)Communications and financial services 90,03382,759(8.1%)Total3,763,8893,607,023(4.2%)    Businesses operated directly by us:   Cargo operation and bonded warehouse1,507,3231,849,36722.7%CBX revenues-  1,243,606100.0%Car parking 550,659588,3546.8%Convenience stores489,246547,02511.8%VIP Lounges488,364478,873(1.9%)Advertising 149,652192,69428.8%Hotel operation123,215141,10914.5%Other businesses operated directly by us-  56,263100.0%Total3,308,4595,097,29154.1%Recovery of costs195,666192,964(1.4%)Total Non-aeronautical Revenues 7,268,0148,897,27822.4%     Figures expressed in thousands of Mexican pesos.

‐        Revenues from improvements to concession assets 1

Revenues from improvements to concession assets (IFRIC-12) increased by Ps. 991.9 million, or 14.2%, compared to 9M25. The change was composed of:

Improvements to concession assets at the Company’s Mexican airports, which increased by Ps. 626.8 million, or 9.4%, following investments under the Master Development Program for the 2025-2029 period. Improvements to concession assets at the Company’s Jamaican airports, which increased Ps. 365.1 million, or 99.0%. 1 Revenues from improvements to concession assets are recognized in accordance with International Financial Reporting Interpretation Committee 12 “Service Concession Arrangements” (IFRIC 12). However, this recognition does not have a cash impact or impact on the Company’s operating results. Amounts included as a result of the recognition of IFRIC 12 are related to construction of infrastructure in each quarter to which the Company has committed. This is in accordance with the Company’s Master Development Programs in Mexico and Capital Development Programs in Jamaica. All margins and ratios calculated using “Total Revenues” include revenues from improvements to concession assets (IFRIC 12), and, consequently, such margins and ratios may not be comparable to other ratios and margins, such as EBITDA margin, operating margin or other similar ratios that are calculated based on those results of the Company that do have a cash impact.

Total operating cost increased by Ps. 1,148.5 million, or 6.3%, compared to 9M25, primarily due to an increase of Ps. 991.9 million, or 14.2%, in the cost of improvements to the concession assets (IFRIC-12); a Ps. 857.3 million, or 18.9%, increase in cost of services; a Ps. 136.1 million, or 4.9%, increase in depreciation and amortization; and a Ps. 80.2 million increase other expenses. These increases were partially offset by Ps. 262.9 million, or 8.6%, decrease in concession taxes, and Ps. 654.0 million, or 89.4%, decrease in technical assistance fees. Excluding costs related to improvements to concession assets (IFRIC 12), operating expenses increased by Ps. 156.5 million, or 1.4%.

Mexican airports: 

Operating costs increased by Ps. 782.9 million, or 5.1%, compared to 9M25, primarily due to a Ps. 626.8 million, or 9.4%, increase in cost of improvements to concession assets (IFRIC 12); a Ps. 553.9 million increase in cost of services; Ps. 79.8 million in other non-recurring expenses; a Ps. 82.9 million increase in concession taxes; and a Ps. 93.5 million increase in depreciation and amortization. These increases were partially offset by a Ps. 654.0 million, or 89.4%, decrease in technical assistance fees.
The change in the cost of services at our Mexican airports during 9M26 was mainly due to:

Employee costs increased by Ps. 287.8 million, or 17.0%, primarily due to salary adjustments and additional operating personnel.
Maintenance increased by Ps. 90.9 million, or 13.3%, primarily due to the opening of new operational and terminal areas, as well as airfield maintenance activities.Safety, security and insurance increased by Ps. 80.1 million, or 15.9%, primarily due to increased security staffing, significant minimum wage increases, and higher insurance costs associated with safeguarding goods at the bonded warehouse. Jamaican Airports:

Operating costs decreased by Ps. 70.3 million, or 2.5%, compared to 9M25, mainly due to a Ps. 345.9 million, or 25.9%, decrease in concession fees, a decrease of Ps. 65.6 million, or 9.1%, in cost of services, and a Ps. 25.1 million, or 5.7% decrease in depreciation and amortization. These effects were partially offset by an increase of Ps. 365.1 million, or 99.0%, in the cost of improvements to concession assets (IFRIC-12). Cross Border Xpress:

As of May 1, 2026, GAP’s consolidated results include CBX’s operating expenses of Ps. 437.2 million, consisting of Ps. 368.9 million in cost of services and Ps. 67.6 million in depreciation and amortization, corresponding to five months of operations. Operating income margin increased from 42.6% in 9M25 to 44.0% in 9M26. Excluding the effects of IFRIC-12, the operating income margin went from 54.8% in 9M25 to 57.3% in 9M26. Income from operations increased by Ps. 1,665.0 million, or 12.4%, compared to 9M25, with CBX contributing Ps. 806.4 million.

EBITDA margin went from 51.5% in 9M25 to 52.5% in 9M26. Excluding the effects of IFRIC-12, EBITDA margin went from 66.2% in 9M25 to 68.4% in 9M26. EBITDA increased by Ps. 1,801.0 million, or 11.1%, compared to 9M25. CBX contributed Ps. 874.0 million, with an EBITDA margin of 70.3%.

Financial results increased in expenses by Ps. 387.8 million, or 16.7%, from a net expense of Ps. 2,324.9 million in 9M25 to Ps. 2,712.6 million in 9M26.   This change was mainly the result of:

Foreign exchange fluctuations, which went from a loss of Ps. 103.3 million in 9M25 to a gain of Ps. 270.2 million in 9M26, resulting in a foreign exchange gain of Ps. 373.5 million due to the appreciation of the Mexican peso. Additionally, the foreign currency translation effect generated a gain of Ps. 675.3 million compared to 9M25.Interest expense increased by Ps.763.2 million, or 25.5%, compared to 9M25, mainly due to higher borrowings of bank loans.Interest income increased by Ps. 2.0 million, or 0.1%, compared to 9M25. In 9M26, net and comprehensive income increased by Ps. 1,574.1 million, or 21.0%, compared to 9M25. Income before taxes increased by Ps. 1,277.2 million, mainly due to the increase in EBITDA, as mentioned above.

During 9M26, net income increased by Ps. 910.4 million, or 11.1%, compared to 9M25, mainly due to the increase in EBITDA, partially offset by an increase in financial expenses. Income tax expense increased by Ps. 366.8 million, reflecting a Ps. 86.5 million increase in current income tax expense and a Ps. 280.1 million decrease in the deferred tax benefit.

Statement of Financial Position

As of September 30, 2026, total assets increased by Ps. 63,515.2 million compared to the same period in 2025, primarily due to: i) a Ps. 37,926.5 million increase in goodwill and intangible assets; ii) a Ps. 12,269.6 million increase in cash and cash equivalents; and iii) a net increase of Ps. 12,519.7 million in land, construction in progress, advances to suppliers, machinery, equipment, and improvements to leased buildings, partially offset by a decrease in improvements to concession assets.

Total liabilities increased by Ps. 28,464.7 million compared to the same period in 2025, primarily due to: i) a Ps. 14,615.7 million increase in short- and long-term bank loans and accrued interest; ii) a Ps. 12,512.9 million increase in dividends payable; and iii) a Ps. 2,767.2 million increase in accounts payable. These increases were partially offset by a Ps. 1,261.6 million decrease in other short- and long-term liabilities. 

Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concesiones Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019. In May 2026, GAP completed a business combination pursuant to which it acquired full ownership of the Cross Border Xpress (“CBX”), a cross-border terminal located in San Diego, California and connected to the Tijuana International Airport.

 This press release contains references to EBITDA, a financial performance measure not recognized under IFRS and which does not purport to be an alternative to IFRS measures of operating performance or liquidity. We caution investors not to place undue reliance on non-GAAP financial measures such as EBITDA, as these have limitations as analytical tools and should be considered as a supplement to, not a substitute for, the corresponding measures calculated in accordance with IFRS. This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.     In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at [email protected]. GAP’s Audit Committee will be notified of all complaints for immediate investigation. 

Exhibit A: Operating results by airport (in thousands of pesos):

Airport 3Q25  3Q26 Change 9M25  9M26 ChangeGuadalajara      Aeronautical services1,675,3931,818,8388.6%4,826,9095,282,8839.4%Non-aeronautical services366,762418,22814.0%1,076,0931,198,67111.4%Improvements to concession assets (IFRIC 12)32,3961,118,3133352.0%2,381,2483,354,94040.9%Total Revenues2,074,5513,355,38061.7%8,284,2509,836,49318.7%Operating income1,279,8421,362,3346.4%3,704,8073,999,1647.9%EBITDA1,500,4751,588,2665.9%4,344,9934,695,8578.1%       Tijuana      Aeronautical services854,459917,3257.4%2,442,3922,599,9596.5%Non-aeronautical services130,331132,6701.8%380,982390,8412.6%Improvements to concession assets (IFRIC 12)386,094453,86617.6%1,158,2821,361,59817.6%Total Revenues1,370,8841,503,8619.7%3,981,6564,352,3989.3%Operating income 539,959555,6302.9%1,512,3471,571,5063.9%EBITDA668,966678,9621.5%1,893,3641,952,8953.1%       Los Cabos      Aeronautical services682,610690,8921.2%2,533,1802,574,8991.6%Non-aeronautical services299,056266,655(10.8%)1,011,056945,436(6.5%)Improvements to concession assets (IFRIC 12)205,863212,8633.4%617,590638,5883.4%Total Revenues1,187,5291,170,410(1.4%)4,161,8254,158,923(0.1%)Operating income528,725477,586(9.7%)2,174,3382,069,184(4.8%)EBITDA633,293583,399(7.9%)2,480,2432,388,992(3.7%)       Puerto Vallarta      Aeronautical services489,808496,2821.3%2,198,7582,094,026(4.8%)Non-aeronautical services131,037117,574(10.3%)502,084449,621(10.4%)Improvements to concession assets (IFRIC 12)503,536410,908(18.4%)1,510,6091,232,724(18.4%)Total Revenues1,124,3821,024,765(8.9%)4,211,4523,776,371(10.3%)Operating income322,377295,737(8.3%)1,687,8091,505,950(10.8%)EBITDA384,674353,682(8.1%)1,878,8951,689,373(10.1%)       Cargo and bonded warehouse business      Non-aeronautical services557,664675,07821.1%1,506,0451,849,66822.8%Total Revenues557,664675,07821.1%1,506,0451,849,66822.8%Operating income276,034359,16330.1%872,7981,142,52830.9%EBITDA327,347413,58526.3%946,3301,218,81128.8%       Montego Bay      Aeronautical services489,463351,195(28.2%)1,593,2621,069,143(32.9%)Non-aeronautical services233,167192,103(17.6%)709,717559,841(21.1%)Improvements to concession assets (IFRIC 12)50,427106,115110.4%163,781205,16625.3%Total Revenues773,056649,413(16.0%)2,466,7601,834,150(25.6%)Operating income245,526300,33822.3%893,543708,857(20.7%)EBITDA328,900354,5567.8%1,152,712929,002(19.4%)        Exhibit A: Operating results by airport (in thousands of pesos):

Airport 3Q25  3Q26 Change 9M25  9M26 ChangeGuanajuato      Aeronautical services292,742297,5581.6%841,372854,7091.6%Non-aeronautical services49,26649,9961.5%146,806145,531(0.9%)Improvements to concession assets (IFRIC 12)130,22273,383(43.6%)390,665220,150(43.6%)Total Revenues472,230420,937(10.9%)1,378,8441,220,390(11.5%)Operating income219,684204,421(6.9%)627,259592,066(5.6%)EBITDA244,716234,089(4.3%)703,666684,172(2.8%)       Hermosillo      Aeronautical services160,028165,7053.5%465,274479,5463.1%Non-aeronautical services26,56328,0395.6%83,32482,617(0.8%)Improvements to concession assets (IFRIC 12)17,2245,657(67.2%)51,67216,972(67.2%)Total Revenues203,814199,401(2.2%)600,270579,135(3.5%)Operating income87,45667,035(23.4%)263,677243,011(7.8%)EBITDA113,05491,459(19.1%)341,316319,281(6.5%)       Cross Border Xpress (1)      Non-aeronautical services-  775,507100.0%-  1,243,606100.0%Total Revenues-  775,507100.0%-  1,243,606100.0%Operating income-  515,271100.0%-  806,366100.0%EBITDA-  558,210100.0%-  873,999100.0%       Others (2)      Aeronautical services829,540878,2075.9%2,335,2162,473,4085.9%Non-aeronautical services637,634675,2365.9%1,851,9072,031,4469.7%Improvements to concession assets (IFRIC 12)345,298339,622(1.6%)735,538971,16532.0%Total Revenues1,812,4731,893,0664.4%4,922,6615,476,01911.2%Operating income767,852910,16518.5%1,687,9562,450,84245.2%EBITDA1,078,3921,208,37812.1%2,476,2313,266,37331.9%       Total       Aeronautical services5,474,0435,616,0032.6%17,236,36417,428,5721.1%Non-aeronautical services2,431,4803,331,08737.0%7,268,0148,897,27822.4%Improvements to concession assets (IFRIC 12)1,671,0602,720,72862.8%7,009,3858,001,30414.2%Total Revenues9,576,58311,667,81821.8%31,513,76234,327,1558.9%Operating income4,149,9665,047,68121.6%13,424,53415,089,47312.4%EBITDA5,085,6496,064,58619.2%16,217,75018,018,75511.1% (1)Cross Border Xpress figures correspond to operations from May to September 2026.(2)Others include the operating results of the Aguascalientes, La Paz, Los Mochis, Manzanillo, Mexicali, Morelia, and Kingston airports, and other subsidiaries.    Exhibit B: Consolidated statement of financial position as of September 30 (in thousands of pesos):

 20252026Change %Assets    Current assets    Cash and cash equivalents11,669,49823,939,13912,269,641105.1%Trade accounts receivable - Net3,092,7643,166,29373,5292.4%Other current assets1,300,2251,908,994608,76946.8%Total current assets16,062,48729,014,42612,951,93980.6%     Advanced payments to suppliers2,260,8193,092,179831,36036.8%Machinery, equipment and improvements to leased buildings - Net4,483,7346,709,3012,225,56749.6%Improvements to concession assets - Net21,126,47923,522,4942,396,01511.3%Construction in-progress11,817,08317,755,9995,938,91650.3%Land5,956,5137,084,4041,127,89018.9%Airport concessions - Net8,931,6588,368,862(562,796)(6.3%)Rights to use airport facilities - Net954,626904,473(50,153)(5.3%)Other acquired rights1,868,2851,592,955(275,330)(14.7%)Goodwill/intangible assets-  37,926,45037,926,450100.0%Deferred income taxes - Net8,688,5849,090,910402,3264.6%Other non-current assets756,3101,359,296602,98679.7%Total assets82,906,577146,421,74963,515,17276.6%     Liabilities     Current liabilities    Bank loans and interest payable5,028,63619,434,44714,405,812286.5%Concession fees495,377354,163(141,214)(28.5%)Accounts payable979,1293,746,3722,767,243282.6%Unrealized revenue-  399,405399,405100.0%Other current liabilities1,471,865848,290(623,575)(42.4%)Dividends payable-  12,512,86412,512,864100.0%Total current liabilities7,975,00737,295,54229,320,535367.7%     Non-current Liabilities    Security deposits received1,160,4901,255,20194,7118.2%Bank loans5,309,0865,519,003209,9184.0%Other long-term liabilities1,835,5921,197,567(638,025)(34.8%)Long-term local bonds payable43,283,72242,761,266(522,456)(1.2%)Total liabilities59,563,89688,028,57928,464,68347.8%     Stockholders' Equity    Common stock1,194,3901,406,522212,13217.8%Legal reserve238,878238,878-  0.0%Retained earnings16,980,22816,043,600(936,628)(5.5%)Reserve for share repurchase 2,500,0002,500,000-  0.0%Foreign currency translation reserve95,577(231,014)(326,591)(341.7%)Remeasurements of employee benefit – Net32,12034,7252,6058.1%Premium on share subscription-  35,766,61135,766,611100.0%Total controlling interest21,041,19355,759,32234,718,129165.0%Non-controlling interest2,301,4882,633,848332,36014.4%Total stockholder's equity23,342,68158,393,17035,050,489150.2%     Total liabilities and stockholders' equity82,906,577146,421,74963,515,17276.6%      Non-controlling interest represents the minority shareholders’ ownership interests in certain of our subsidiaries. 

Exhibit C: Consolidated statement of cash flows (in thousands of pesos):

  3Q25  3Q26 Change 9M25  9M26 ChangeCash flows from operating activities:      Consolidated net income  2,695,9802,914,1018.1%8,209,2349,119,61911.1%       Postemployment benefit costs18,06220,27812.3%47,68361,55229.1%Allowance expected credit loss11,130410(96.3%)23,39861,620163.4%Depreciation and amortization935,6831,016,9058.7%2,793,2172,929,2814.9%Loss (gain) on sale of machinery, equipment and improvements to leased assets(435)8,426(2037.0%)9242,045121.2%Interest expense1,028,3801,155,07612.3%3,309,8893,524,7856.5%Provisions10,02619,51494.6%(11,641)55,613(577.7%)Income tax expense792,1581,090,49737.7%2,890,4383,257,23012.7%Unrealized exchange loss(87,406)319,541(465.6%)(30,602)190,223(721.6%) 5,403,5786,544,74821.1%17,232,53919,201,96811.4%Changes in working capital:      (Increase) decrease in      Trade accounts receivable43,028195,515354.4%(450,686)327,939(172.8%)Recoverable tax on assets and other assets(154,167)(133,089)(13.7%)(46,803)(154,320)229.7%Increase (decrease)      Concession taxes payable(39,589)260,658(758.4%)(254,695)130,478(151.2%)Accounts payable1,488,079(266,541)(117.9%)1,441,592(62,747)(104.4%)Cash generated  by operating activities6,740,9296,601,291(2.1%)17,921,94719,443,3198.5%Income taxes paid(2,477,296)(1,102,145)(55.5%)(4,802,085)(3,725,270)(22.4%)Net cash flows provided by operating activities4,263,6335,499,14629.0%13,119,86115,718,04719.8%       Cash flows from investing activities:      Machinery, equipment and improvements to concession assets(4,218,537)(3,679,727)(12.8%)(6,603,300)(8,622,782)30.6%Cash flows from sales of machinery and equipment836(19,113)(2386.2%)2,610(16,499)(732.2%)Other investment activities1,079,384144,894(86.6%)(653,186)47,518(107.3%)Acquisition of a 25% interest in CBX-  -  0.0%-  (8,445,060)100.0%Net cash used by investment activities(3,138,317)(3,553,946)13.2%(7,253,875)(17,036,823)134.9%       Dividends declared and paid(4,254,436)-  (100.0%)(8,508,872)(203,882)(97.6%)Dividends paid to non-controlling interests(411,347)(126,099)(69.3%)(564,228)(126,099)(77.7%)Cash and cash equivalentes from business combination-  -  0.0%-  5,428,000100.0%Bond certificates issued8,500,000-  (100.0%)14,500,00010,718,000(26.1%)Bond certificates paid-  (2,757,588)100.0%(7,000,000)(3,877,588)(44.6%)Bank loans paid(2,233,515)1,120,000(150.1%)(5,688,452)(3,378,971)(40.6%)Bank loans693,8176,000,000764.8%3,942,91510,498,971166.3%Interest paid on bank loans(1,131,482)(1,671,721)47.7%(3,437,967)(3,941,744)14.7%Interest paid on lease(493)(2,672)442.0%(1,775)(8,112)357.1%Payments of obligations for leasing(9,449)(13,176)39.4%(28,348)(34,207)20.7%Net cash flows used in financing activities1,153,0952,548,744121.0%(6,786,727)15,074,367(322.1%)       Effects of exchange rate changes on cash held(306,255)(361,358)18.0%(875,787)(269,651)(69.2%)Net  increase (decrease) in cash and cash equivalents1,972,1554,132,586109.5%(1,796,529)13,485,941(850.7%)Cash and cash equivalents at beginning of the period            9,697,34319,806,553104.2%    13,466,026        10,453,198(22.4%)Cash and cash equivalents at the end of the period11,669,49823,939,139105.1%11,669,49823,939,139105.1%               Exhibit D: Consolidated statements of profit or loss and other comprehensive income (in thousands of pesos):

  3Q25  3Q26 Change 9M25  9M26 ChangeRevenues      Aeronautical services5,474,0435,616,0032.6%17,236,36417,428,5721.1%Non-aeronautical services2,431,4803,331,08737.0%7,268,0148,897,27822.4%Improvements to concession assets (IFRIC-12)1,671,0602,720,72862.8%7,009,3858,001,30414.2%Total revenues9,576,58311,667,81821.8%31,513,76234,327,1558.9%       Operating costs      Costs of services:1,525,5501,934,78926.8%4,545,8885,403,13818.9%Employee costs633,119714,24812.8%1,885,2032,168,36715.0%Maintenance307,625358,30416.5%821,358935,62113.9%Safety, security & insurance243,706280,58115.1%691,429774,34912.0%Utilities174,887171,364(2.0%)448,850445,591(0.7%)Professional services43,38352,05220.0%149,446193,93829.8%Business operated directly by us84,69787,6143.4%258,665276,5706.9%Other operating expenses38,133169,927345.6%290,936437,51150.4%CBX operating expenses-  100,699100.0%-  171,191100.0%       Technical assistance fees226,32243,001(81.0%)731,90177,858(89.4%)Concession taxes1,075,399926,781(13.8%)3,052,3802,789,402(8.6%)Depreciation and amortization935,6831,016,9058.7%2,793,2172,929,2814.9%Cost of improvements to concession assets (IFRIC-12)1,671,0602,720,72862.8%7,009,3858,001,30414.2%Other (income)(7,397)(22,067)198.3%(43,542)36,698(184.3%)Total operating costs5,426,6176,620,13722.0%18,089,22919,237,6826.3%Income from operations4,149,9665,047,68121.6%13,424,53315,089,47312.4%Financial Result(661,828)(1,043,083)57.6%(2,324,863)(2,712,625)16.7%Income before income taxes 3,488,1384,004,59814.8%11,099,67012,376,84911.5%Income taxes (792,158)(1,090,497)37.7%(2,890,438)(3,257,230)12.7%Net income 2,695,9802,914,1018.1%8,209,2349,119,61911.1%Currency translation effect(231,955)352,888(252.1%)(730,540)(55,268)(92.4%)Cash flow hedges, net of income tax2,692-  (100.0%)4,584-  (100.0%)Remeasurements of employee benefit – net income tax(8,929)(1,869)(79.1%)23,83716,842(29.3%)Comprehensive income 2,457,7883,265,12032.8%7,507,1149,081,19321.0%Non-controlling interest(96,975)(163,201)68.3%(302,853)(404,575)33.6%Comprehensive income attributable to controlling interest2,360,8133,101,91931.4%7,204,2638,676,61820.4%        Non-controlling interest represents the minority shareholders’ ownership interests in certain of our subsidiaries.

Exhibit E: Consolidated stockholders’ equity (in thousands of pesos):

 Common StockLegal ReserveReserve for Share RepurchasePremium on
share
suscriptionRetained Earnings  Other comprehensive income  Total
controlling
interest  Non-controlling interest Total Stockholders' EquityBalance as of January 1, 20251,194,390920,1872,500,000  -  16,957,723773,49922,345,7992,275,94024,621,739Decrease in legal reserve-  (681,309)-   681,309-  -  -  -  Dividends declared-  -  -   (8,508,872)-  (8,508,872)(277,305)(8,786,177)Comprehensive income:         Net income-  -  -  -  7,850,068-  7,850,068359,171   8,209,239Foreign currency translation reserve-  -  -  -  -  (674,223)(674,223)(56,318)(730,541)Remeasurements of employee benefit – Net-  -  -  -  -  23,837  23,837-   23,837Reserve for cash flow hedges – Net of income tax -  -  -  -  -  4,5844,584-  4,584Balance as of September 30, 20251,194,390238,8782,500,000-  16,980,228127,69721,041,192    2,301,48823,342,681          Balance as of January 1, 20261,194,390238,8782,500,000       -  18,695,331(158,148)22,470,4512,365,48024,835,931Capital increase212,132     212,132 212,132Dividends declared-  -  -   (12,376,379)-  (12,376,379)(136,206)(12,512,585)Increase from share suscription-  -  -  35,766,611-  -  35,766,611-  35,766,611Comprehensive income:         Net income -  -  -  -  8,714,760-  8,714,760404,8589,119,618Retained earnings from business combination   -  1,009,888-  1,009,888-  1,009,888Foreign currency translation reserve-  -  -  -  -  (54,985)(54,985)(283)(55,268)Remeasurements of employee benefit – Net-  -  -  -  -  16,84216,842-  16,842Balance as of September 30, 20261,406,522238,8782,500,00035,766,61116,043,600(196,291)55,759,320   2,633,84958,393,170                     Non-controlling interest represents the minority shareholders’ ownership interests in certain of our subsidiaries.

Exhibit F: Other operating data:

 3Q253Q26Change9M259M26ChangeTotal passengers15,659.615,437.8(1.4%)47,808.445,792.6(4.2%)Total cargo volume (in WLUs)717.5771.47.5%2,054.82,218.88.0%Total WLUs16,377.116,209.3(1.0%)49,863.248,011.4(3.7%)       Aeronautical & non aeronautical services per passenger (pesos)504.8579.614.8%512.6574.912.2%Aeronautical services per WLU (pesos)334.2346.53.7%345.7363.05.0%Non aeronautical services per passenger (pesos)155.3215.839.0%152.0194.327.8%Cost of services per WLU (pesos)93.2119.428.1%91.2112.523.4%               WLU = Workload units represent passenger traffic plus cargo units (1 cargo unit = 100 kilograms of cargo).

Saúl Villarreal, Chief Financial OfficerGisela Murillo, Investor Relations

[email protected]@aeropuertosgap.com.mx
+52 33 3880 1100 ext. 20294

  

Nvidia is increasing its investments in Europe's artificial intelligence sector, unveiling plans to back four German startups as the country pushes to strengthen its position in industrial AI.

The investments are part of the U.S. chipmaker's nearly $10 billion commitment to invest in companies, universities and research institutions across Europe, as announced at the Invest in Germany Summit in Berlin on Monday.

The four startups are Agile Robots, Avelios Medical, Mirelo and Reflex Aerospace. However, Nvidia did not disclose the size of the planned investments.

Agile Robots develops AI-powered robots for manufacturing, logistics and healthcare, while Avelios Medical builds AI-powered hospital management software. Mirelo develops AI models that generate audio for videos, while Reflex Aerospace designs and builds satellites.

The announcement comes as Germany seeks to accelerate AI adoption across its industrial sector, with Chancellor Friedrich Merz saying the country aims to become a leader in integrating AI into key sectors.

Merz, who described the technology as a major opportunity for the country's economy, named manufacturing, machinery and the automotive industry for integrating AI. He also urged Germany's small- and medium-sized businesses to capitalize on the data they already hold.

"Please open your doors for AI to make use of your data," Merz said. "This is a real secret and a real advantage for Germany to make use of all the data which is already available in our companies."

Nvidia CEO Jensen Huang echoed Merz's remarks while highlighting Germany's expertise in manufacturing, mathematics and science, saying that AI would strengthen rather than replace the country's industrial capabilities.

"AI can only augment your capability, it will not replace your capability," Huang said, describing the technology as a new instrument for businesses.

Nvidia is also expanding its collaboration with the German federal government and its "Industry 4.0 Platform," bringing together representatives from government, industry, research and trade associations, to accelerate the adoption of industrial AI. On Monday, the government signed a joint declaration of intent with Nvidia to advance AI models for industrial applications.

Earlier in the day, Siemens had also announced new AI solutions developed with Nvidia at its factory in Erlangen, Germany. Siemens said the technologies could reduce engineering work involved in preparing production by up to 85%, while AI-powered production planning could cut costs by as much as 20%.

Huang had also visited France last week, where he announced investments in four French startups and met with French President Emmanuel Macron to discuss AI development. The Nvidia boss is scheduled to deliver a keynote address in Berlin on Wednesday.

Stargate Finance is pulling the plug on four blockchains. Support for Gravity, Camp, GOAT and Metis through Stargate v2 will end on October 23, 2026.

If you have liquidity parked in Stargate pools on any of those networks, the calendar is now your most important DeFi tool. Users are being urged to withdraw or bridge their assets before the cutoff to avoid losing access to their funds.

What is changing and when
The affected chains are Gravity Alpha Mainnet, Camp, GOAT Network and Metis Andromeda. All four are being cut because of low activity.

The move tracks a broader LayerZero Labs initiative. The company is winding down the off-chain infrastructure services it runs on chains that show minimal usage.

There are actually two deadlines here, and they hit different groups. The first, October 23, 2026, applies to Stargate v2 users and liquidity providers on the four chains.

The second lands a week later. LayerZero’s default DVN and Executor services for those same chains will stop on October 30, 2026.

A cross-chain message needs someone to confirm it is legitimate and someone to actually deliver it on the other side. DVNs and Executors are the off-chain services LayerZero has been running to handle those jobs by default. When LayerZero stops supplying its default versions, apps on these chains have to arrange their own.

Developers building on the impacted networks have until October 30 to move to new DVN and Executor configurations, where those are available.

Anyone holding canonical assets through the established, official bridges is unaffected. The official bridges between Ethereum and Metis remain operational, so users who came in that way can sit tight.

Part of a bigger cleanup
This is not the first round of cuts. Stargate and LayerZero have already deprecated support for other networks earlier in 2026, with Aurora, Gnosis and Taiko among the chains named in prior wind-downs.

And the biggest cut is still ahead. All Stargate v1 pools are scheduled to shut down across every chain on December 15, 2026.

What this means for users, LPs and builders
For liquidity providers, the practical message is simple: act early. Waiting until the final days before October 23 means competing with every other LP heading for the exit at the same time.

Metis users have a cushion that the others may not, since the official Ethereum-Metis bridges keep running. For Gravity, Camp and GOAT, the practical impact depends on what alternative routes remain available to their users once Stargate exits.

Developers face the trickiest homework. Any application on these chains that leans on LayerZero’s default DVN and Executor setup needs a new configuration by October 30. If no replacement exists for a given chain, cross-chain features built on that stack could simply stop working.

For anyone touching LayerZero-based protocols, the dates worth circling are clear. October 23 for Stargate v2 on Gravity, Camp, GOAT and Metis. October 30 for default DVN and Executor services on those chains. December 15 for the shutdown of every Stargate v1 pool.

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

Airbnb (ABNB +1.01%) has mostly been a disappointment for investors after initially surging out of the gate in its 2020 IPO, but in 2026, the stock is finally gaining momentum.

The #1 home-sharing platform has delivered better-than-expected growth, solid margins, and it's leveraging AI to improve user satisfaction. Meanwhile, it is expanding its platform with expanded experiences and guest services offerings.

Over the last two weeks, the stock is up 9.4%, even as the S&P 500 has fallen 1.6%, as the chart below shows.

ABNB data by YCharts

Airbnb's gains have come as the tech sector has tumbled on concerns about an AI bubble and rising interest rates. However, the company has demonstrated its resilience and is well-positioned to thrive in such an environment. Here are three reasons why Airbnb is poised to be a winner in today's stock market.

Image source: Getty Images.

1. It wins on high interest ratesStock investors generally dislike rising interest rates. After all, higher interest rates tend to make the bond market more attractive, leading investors to rotate out of stocks and into bonds. Additionally, higher interest rates put pressure on high-priced stocks like much of the tech sector, as it makes future earnings less valuable due to a higher discount rate in the discounted cash flow.

Normally, a company like Airbnb would be susceptible to that pressure, but the home-sharing leader actually earns significant profit from interest income thanks to the funds it holds in between customer bookings and disbursement. Through the first half of the year, it's earned $363 million in interest income, more than a third of its before-tax profit, and that number is likely to go up as interest rates go up. As of the end of the second quarter, the company held $12.2 billion in "funds receivable and amounts held on behalf of customers," on which it earns interest. That's a substantial advantage of its business model and gives it resilience when many of its tech stock peers are falling in the face of higher interest rates.

2. It won't be disrupted by agentic AIThe launch of Meta Platforms' Muse also exposed a hidden advantage of Airbnb. Unlike its online travel agency (OTA) rivals Expedia and Booking, Airbnb's inventory is mostly specific to its platform. Expedia and Booking, on the other hand, are essentially middlemen, connecting users to hotels and acting as a clearinghouse for hotels that want to get their listings in front of prospective customers.

Tools like Muse make it easy for users to book directly with a given hotel or with the platform that offers the lowest price. It eliminates the friction that might ordinarily lead users to book directly on Expedia and Booking. Airbnb doesn't have this problem, as homestays don't typically offer the option of booking directly. That's one of the benefits Airbnb provides to its hosts, and it should give it an advantage if users continue to adopt AI agents.

ABNB Airbnb$175.46+$1.76 (+1.01%)

NASDAQ · As of 4:00 PM ET 10/19/26

3. The travel sector continues to outperformWhile other discretionary sectors struggle, Airbnb and its travel stock peers have continued to deliver solid growth. Despite concerns about inflation, stock and home values remain at all-time highs, enabling wealthier people to spend on vacations and travel.

A number of other factors support that trend, including record wealth among the baby boomer generation and a preference for spending money on experiences over things among younger adults. Additionally, social media has helped stoke wanderlust, and the pandemic may have convinced people to travel while they have the opportunity.

Those tailwinds might not be permanent for Airbnb, but the current strength of the travel sector shows its advantages over other consumer-facing industries.

Taken together, those three factors make the stock a good bet to continue outperforming.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Fluence Energy To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in Fluence Energy between November 24, 2025 and September 16, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - October 19, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Fluence Energy, Inc. ("Fluence Energy" or the "Company") (NASDAQ: FLNC) and reminds investors of the November 30, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that the Company's ability to deliver its backlog and recognize the revenue underlying its fiscal 2026 guidance depended on new contract manufacturing facilities, including facilities that were not completed, not operational, and/or not capable of producing at the volumes the guidance assumed; (2) that the corrective measures the Company had implemented to address production problems at its contract manufacturers were not remediating those problems, which persisted and extended to the Company's new facilities; (3) as a result, a material portion of the backlog that Defendants represented as "securing" or "covering" the Company's fiscal 2026 revenue guidance were likely to be delivered and recognized in fiscal 2026; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On February 4, 2026, after the market closed, the Company reported first quarter 2026 financial results, including a GAAP gross profit margin of approximately 4.9%, a 6.5 percentage point decline year over year, due to "additional estimated costs on two projects." On this news Fluence Energy's stock price fell $10.04, or 34.63%, to close at $18.95 per share on February 5, 2026, on unusually heavy trading volume.

On August 5, 2026, after the market closed, Fluence Energy announced third quarter financial results, including that revenue was "weaker than expected, primarily reflecting production delays at new contract manufacturing facilities," and that it "now expects that $400.0 million in project deliveries will be delayed into fiscal 2027 due to production issues at a new international contract manufacturing facility and construction related delays that affected the completion and start-up of a new U.S. contract manufacturing facility." On this news Fluence Energy's stock price fell $1.02, or 7.17%, to close at $13.21 per share on August 6, 2026, on unusually heavy trading volume.

On September 16, 2026, after the market closed, Fluence Energy announced a mid-quarter guidance update, revealing that the Company was cutting its full year revenue guide by approximately $0.6 billion, to $2.4 billion, and dramatically cut its full year adjusted EBITDA guide from negative $10 million to negative $200 million, attributing the revision to ongoing "delays in the ramp-up of our contract manufacturing facility." On this news Fluence Energy's stock price fell $1.39, or 15.36%, to close at $7.66 per share on September 17, 2026, on unusually heavy trading volume.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Fluence Energy's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Fluence Energy class action, go to www.faruqilaw.com/FLNC or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Frequently Asked Questions (FAQ) for Investors Regarding the Fluence Energy Securities Class Action Lawsuit:

What is the Fluence Energy securities fraud lawsuit about?

The lawsuit alleges that Fluence Energy, Inc. (NASDAQ: FLNC) misled investors about its ability to meet fiscal 2026 revenue guidance. The complaint claims production and manufacturing delays undermined the company's projections, leading to revenue shortfalls, guidance cuts, and declines in Fluence Energy's stock price.

Who may be eligible to participate in the lawsuit?

Investors who purchased or acquired Fluence Energy (NASDAQ: FLNC) securities between November 24, 2025 and September 16, 2026 may be eligible. Investors who suffered losses during the Class Period may potentially share in any recovery, even if they do not seek appointment as lead plaintiff.

What is a lead plaintiff, and how can I seek appointment?

A lead plaintiff is a court-appointed investor who represents the class and helps oversee the litigation. Fluence Energy investors who purchased shares during the Class Period and suffered losses may seek appointment as lead plaintiff by November 30, 2026. Investors do not need to serve as lead plaintiff to participate in any potential recovery.

Why should investors contact Faruqi & Faruqi, LLP?

Faruqi & Faruqi, LLP has represented investors in securities litigation for decades and has recovered hundreds of millions of dollars for shareholders. Investors who purchased Fluence Energy securities during the Class Period may contact the firm to discuss their legal rights, potential claims, and the lead plaintiff process at no cost or obligation.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319749

Source: Faruqi & Faruqi LLP

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Referenced assets

Hawkish Central Bank Expectations: Persistent inflationary pressures (with U.S. CPI at 3.7% in September) keep central banks hawkish, with market pricing leaning toward further Fed rate hikes or a “higher for longer” policy through early 2027.Opposing Macro Forces on Gold: While high inflation provides safe-haven demand for gold, rising Treasury yields and a strong U.S. dollar from central bank tightening increase the opportunity cost of holding non-yielding bullion, creating downside pressure on gold.Technical Bullish Flag Formation: Despite the recent price retreat from peaks near 5,600 within a descending channel, the technical structure views the move as a potential bullish flag pattern within the long-term uptrend since 2023, supported by key support between 4,000–4,120.

Macroeconomic Drivers & Central Bank Policy

Major central banks and economic bureaus are set to publish crucial inflation metrics in late October and early November 2026, including the European Central Bank and Bank of Japan monetary policy meetings on October 29–30, followed by the U.S. Consumer Price Index (CPI) release for October on November 10. Recent indicators show persistent inflationary pressure driven by sticky energy and shelter costs, with headline U.S. CPI rising to 3.7% year-over-year in September. These upcoming releases will reveal whether price pressures are structural or temporary, determining whether global headline inflation continues to hover well above the target 2% threshold in major economies.

In response, central banks—most notably the Federal Open Market Committee (FOMC)—are maintaining a hawkish posture to rein in persistent inflation. Following a 25-basis-point rate hike to a target range of 3.75%–4.00% in September 2026, the FOMC enters its October 27–28 policy meeting under close market scrutiny as officials weigh additional tightening before year-end. If inflation data remain elevated, central banks will keep benchmark rates “higher for longer” or implement incremental rate hikes, thereby dampening economic expansion and cooling consumer demand.

These macroeconomic dynamics exert two opposing forces on gold prices. Higher inflation data initially boosts demand for gold as a traditional inflation hedge and safe-haven store of value. However, persistent inflation triggers hawkish rate responses from the FOMC, driving up real yields on U.S. Treasuries and strengthening the U.S. dollar, thereby increasing the opportunity cost of holding non-yielding bullion and pressuring prices downward. Ultimately, if upcoming CPI prints come in hotter than expected and prompt additional Fed rate hikes, gold is likely to experience short-term selling pressure; conversely, softer inflation data that signals an end to central bank tightening would provide strong tailwinds for a gold rally.

CME FedWatch Rate Expectations

Source: CME FedWatch tool. Past performance is not indicative of future results.

According to CME FedWatch Tool pricing as of October 19, 2026, market expectations are overwhelmingly centered on additional Federal Reserve tightening through early 2027. For the upcoming October 28, 2026 meeting, markets reflect an 82.8% probability that the target rate will settle in the 375–400 bps range (indicating a hold at current levels) and a 17.2% chance of a hike to 400–425 bps. Heading into the final meeting of the year on December 9, 2026, sentiment shifts strongly toward a rate increase, with a 76.5% probability priced for a target range of 400–425 bps and a 15.5% probability placed on a further hike to 425–450 bps.

Looking ahead to the first policy meeting of 2027 on January 27, the market expects rates to remain elevated, with probabilities favoring either maintaining the 400–425 bps target (46.6%) or adjusting upward to the 425–450 bps band (42.1%).

XAU/USD weekly chart technical analysis and COT report updates

Source: XAU/USD W1, OANDA, TradingView. Past performance is not indicative of future results.

The price has been moving down within a well-defined descending channel (red trendlines) following a major peak near 5,600. So far, until proven otherwise, the descending channel can be considered a bullish flag formation for the initial long-term uptrend that began in early 2023 and is marked by the blue line.Immediate support lies below price action, between the monthly S1 and the 2023 uptrend, in the 4000-4120 range. A second level of support falls at the annual pivot point of 3829.12.An immediate confluence of resistance lies above price action, at the intersection of the fast EMA9 and the monthly pivot point of 4259.64. A second level of resistance falls near the monthly R1 of 4408.42, intersecting with the upper border of the flag formation.Lagging momentum indicators, including the Relative Strength Index (RSI) and Stochastic Oscillator, remain constructively aligned with the underlying price action, tracking positively without exhibiting severe divergence.The latest COT report released by the CFTC on Friday, October 16th, 2026, which includes data up to the end of day, Tuesday, October 13th, 2026, reflects that the most recent decline in gold price, which began in August of 2026, was accompanied by relatively unchanged open interest and declining volume. This suggests that the COT data did not support the price drop and a potential change in sentiment.

Conclusion

In summary, the outlook for XAU/USD remains framed by a tug-of-war between persistent hawkish central bank expectations and a constructively bullish long-term technical structure. While sustained inflationary pressure and market expectations of “higher for longer” Federal Reserve interest rates present ongoing macroeconomic headwinds—dampening bullion demand via elevated real yields and a strong U.S. dollar—the technical picture suggests that the recent price consolidation forms a bullish flag within a broader secular uptrend. A decisive breakout above immediate technical resistance around the 4,260–4,408 confluence region would signal a resumption of the broader rally, whereas a breakdown below primary support at 4,000–4,120 could expose lower pivot levels near 3,829.

Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.
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About the Author

Moheb Hanna

Market Analyst

With over 15 years' experience in the forex markets, on both the research and client relations sides, Moheb specialises in technical, trade-focused market analysis. He has worked at a number of top financial institutions, publishing daily commentary and driving sales for retail and institutional clients. A CMT Charter member, Moheb holds a globally recognised CFTe designation.

With over 15 years' experience in the forex markets, on both the research and client relations sides, Moheb specialises in technical, trade-focused market analysis. He has worked at a number of top financial institutions, publishing daily commentary and driving sales for retail and institutional clients. A CMT Charter member, Moheb holds a globally recognised CFTe designation.

In the latest close session, Brinker International (EAT - Free Report) was down 3.06% at $197.89. This move lagged the S&P 500's daily gain of 0.41%. On the other hand, the Dow registered a loss of 0.07%, and the technology-centric Nasdaq increased by 1.11%.

Prior to today's trading, shares of the operator of restaurant chains Chili's Grill & Bar and Maggiano's Little Italy had gained 3.78% lagged the Retail-Wholesale sector's gain of 3.83% and outpaced the S&P 500's gain of 1.46%.

The upcoming earnings release of Brinker International will be of great interest to investors. The company's earnings report is expected on October 28, 2026. In that report, analysts expect Brinker International to post earnings of $2.49 per share. This would mark year-over-year growth of 29.02%. Our most recent consensus estimate is calling for quarterly revenue of $1.45 billion, up 7.19% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.18 per share and revenue of $6.28 billion, indicating changes of +22.72% and +8.05%, respectively, compared to the previous year.

Investors should also note any recent changes to analyst estimates for Brinker International. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.41% higher. As of now, Brinker International holds a Zacks Rank of #3 (Hold).

In terms of valuation, Brinker International is currently trading at a Forward P/E ratio of 15.49. Its industry sports an average Forward P/E of 20.65, so one might conclude that Brinker International is trading at a discount comparatively.

Investors should also note that EAT has a PEG ratio of 1.06 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Retail - Restaurants industry currently had an average PEG ratio of 1.8 as of yesterday's close.

The Retail - Restaurants industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 40% of over 250 industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.