New York, New York--(Newsfile Corp. - October 30, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against DICK's Sporting Goods, Inc. ("Dick's Sporting Goods" or the "Company") (NYSE: DKS) on behalf of investors that purchased or otherwise acquired Dick's Sporting Goods common stock between September 8, 2025 and August 24, 2026 (the "Class Period").
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If you are an investor in Dick's Sporting Goods and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than November 3, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On September 8, 2025, the first day of the Class Period, Dick's Sporting Goods announced the completion of its acquisition of Foot Locker, Inc. ("Foot Locker") for approximately $2.5 billion in cash and stock.
The complaint alleges that throughout the Class Period, Defendants misled investors regarding the Company's acquisition of Foot Locker, touting the acquisition as a strategic opportunity to drive growth and profitability while assuring investors that Foot Locker's longstanding inventory and promotional challenges had been resolved. In reality, according to the complaint, those problems persisted, as Foot Locker remained heavily dependent on legacy footwear products that were exposed to intensifying promotional pressures across the athletic footwear industry.
The truth was allegedly revealed to investors before markets opened on August 25, 2026, when Dick's Sporting Goods reported disappointing second-quarter 2026 results, which included revenue of $1.73 billion from Foot Locker that fell well short of analysts' estimates of $1.81 billion. Dick's Sporting Goods also reduced its net sales guidance for full-year 2026 and disclosed that it expected Foot Locker's proforma comparable sales to yield a range of negative 2.0% to 0.0% for the year-down from Dick's prior forecast of 1.5% to 3% growth.
On this news, the price of Dick's Sporting Goods stock fell $55.02 per share, or 30.68%, to close at $124.31 per share on August 25, 2026.
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3Q 2026 Diluted EPS of $1.603Q 2026 C&I adjusted diluted EPS of $1.51 3Q 2026 Managed receivables of $28.1 billion Declared quarterly dividend of $1.05 per share, /PRNewswire/ -- OneMain Holdings, Inc. (NYSE: OMF), the leader in offering nonprime consumers responsible access to credit, today reported pretax income of $233 million and net income of $185 million for the third quarter of 2026, compared to $263 million and $199 million, respectively, in the prior year quarter. Earnings per diluted share were $1.60 in the third quarter of 2026, compared to $1.67 in the prior year quarter.
On October 30, 2026, OneMain declared a quarterly dividend of $1.05 per share, payable on November 13, 2026, to record holders of the Company's common stock as of the close of business on November 9, 2026.
During the quarter, the Company repurchased approximately 538 thousand shares of common stock for $34 million.
"We delivered another strong quarter, building on the positive momentum across our business and demonstrating our ability to drive growth while maintaining rigorous credit discipline," said Doug Shulman, Chairman and CEO of OneMain. "We are confident in our ability to deliver attractive returns for shareholders well into the future."
The following segment results are reported on a non-GAAP basis. Refer to the required reconciliations of non-GAAP to comparable GAAP measures at the end of this press release.
Consumer and Insurance Segment ("C&I")
C&I adjusted pretax income was $232 million and adjusted net income was $174 million for the third quarter of 2026, compared to $303 million and $227 million, respectively, in the prior year quarter. Adjusted earnings per diluted share were $1.51 for the third quarter of 2026, compared to $1.90 in the prior year quarter.
Management runs the business based on capital generation, which it defines as C&I adjusted net income excluding the after-tax change in C&I allowance for finance receivable losses while still considering the current period C&I net charge-offs. Capital generation was $284 million for the third quarter of 2026, compared to $272 million the prior year quarter. The increase was driven by receivables growth, partially offset by higher net charge-offs in the current quarter compared to the prior year period.
Managed receivables, which includes loans serviced for our whole loan sale partners and auto finance loans originated by third parties, were $28.1 billion at September 30, 2026, up 9% from $25.9 billion at September 30, 2025.
Consumer loan originations totaled $4.5 billion in the third quarter of 2026, up 17% from $3.9 billion in the prior year quarter.
Total revenue, comprising interest income and total other revenue, was $1.7 billion in the third quarter of 2026, up 7% from $1.6 billion in the prior year quarter. Interest income in the third quarter of 2026 was $1.5 billion, up 7% from $1.4 billion in the prior year quarter. The increase was driven by receivables growth.
Interest expense was $345 million in the third quarter of 2026, up 8% from $320 million in the prior year quarter, due to an increase in average debt to support our receivables growth and a higher average cost of funds.
The provision for finance receivable losses was $615 million in the third quarter of 2026, up from $488 million compared to the prior year period. During the third quarter of 2026, the allowance for finance receivable losses increased $146 million driven by receivables growth.
C&I Select Delinquency and Loss Ratios
September 30, 2026
June 30, 2026
September 30, 2025
Consumer loans:
30+ delinquency ratio
5.34 %
5.17 %
5.55 %
90+ delinquency ratio
2.26 %
2.15 %
2.35 %
30-89 delinquency ratio
3.08 %
3.02 %
3.20 %
Net charge-offs
6.89 %
7.77 %
6.67 %
Operating expense for the third quarter of 2026 was $453 million, up 6% from $427 million in the prior year quarter reflecting receivable growth and strategic investments in the business.
Funding and Liquidity
As of September 30, 2026, the Company had principal debt balances outstanding of $24.4 billion, 52% of which was secured. The Company had $936 million of cash and cash equivalents, which included $268 million of cash and cash equivalents held at regulated insurance subsidiaries or for other operating activities that are unavailable for general corporate purposes.
Cash and cash equivalents, together with the Company's $1.0 billion of undrawn committed capacity from an unsecured corporate revolver, $6.5 billion of undrawn committed capacity under revolving conduit facilities and credit card variable funding note facilities, and $12.3 billion of unencumbered receivables, provides significant liquidity resources.
Conference Call & Webcast Information
OneMain management will host a conference call and webcast to discuss the Company's results, outlook, and related matters at 9:00 am Eastern Time on Friday, October 30, 2026. Both the call and webcast are open to the general public. The general public is invited to listen to the call by dialing 877-407-0792 (U.S. domestic) or 201-689-8263 (international), and using conference ID 13762672, or via a live audio webcast through OneMain's investor relations website at http://investor.onemainfinancial.com. For those unable to listen to the live broadcast, a replay will be available on the website after the event. An investor presentation will be available on OneMain's investor relations website prior to the start of the conference call.
About OneMain Holdings, Inc.
OneMain Financial (NYSE: OMF) is the leader in offering nonprime consumers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today's problems and reach a better financial future through personalized solutions across 48 states, available online and in more than 1,300 locations. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit www.OneMainFinancial.com.
Use of Non-GAAP Financial Measures
We report the operating results of Consumer and Insurance using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, to reflect the manner in which we assess our business results and (ii) excludes the impact of applying purchase accounting (eliminates premiums/discounts on our finance receivables and long-term debt at acquisition, as well as the amortization/accretion in future periods). Consumer and Insurance adjusted pretax income (loss), Consumer and Insurance adjusted net income (loss), and Consumer and Insurance adjusted earnings (loss) per diluted share are key performance measures used to evaluate the performance of our business. Consumer and Insurance adjusted pretax income (loss) represents income (loss) before income taxes on a Segment Accounting Basis and excludes net loss resulting from repurchases and repayments of debt, restructuring charges, and other items and strategic activities. We believe these non-GAAP financial measures are useful in assessing the profitability of our segment.
We also use pretax capital generation and capital generation, non-GAAP financial measures, as a key performance measure of our segment. Pretax capital generation represents Consumer and Insurance adjusted pretax income, as discussed above, and excludes the change in our Consumer and Insurance allowance for finance receivable losses in the period while still considering the Consumer and Insurance net charge-offs incurred during the period. Capital generation represents the after-tax effect of pretax capital generation. We believe that these non-GAAP measures are useful in assessing the capital created in the period impacting the overall capital adequacy of the Company. We believe that the Company's reserves, combined with its equity, represent the Company's loss absorption capacity.
We utilize these non-GAAP measures in evaluating our performance. Additionally, these non-GAAP measures are consistent with the performance goals established in OMH's executive compensation program. These non-GAAP financial measures should be considered supplemental to, but not as a substitute for or superior to, income (loss) before income taxes, net income, or other measures of financial performance prepared in accordance with GAAP.
This document contains summarized information concerning the Company and its business, operations, financial performance and trends. No representation is made that the information in this document is complete. For additional financial, statistical and business related information see the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the Company's other reports filed with the SEC from time to time, which are or will be available in the Investor Relations section of the OneMain Financial website (www.omf.com) and the SEC's website (www.sec.gov).
This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words "anticipates," "appears," "assumes," "believes," "can," "continues," "could," "estimates," "expects," "forecasts," "foresees," "goal," "intends," "likely," "objective," "plans," "projects," "target," "trend," "remains," and similar expressions or future or conditional verbs such as "could," "may," "might," "should," "will" or "would" are intended to identify forward-looking statements, but these words are not the exclusive means of identifying forward-looking statements.
Forward-looking statements are not statements of historical fact but instead represent only management's current beliefs regarding future events, objectives, goals, projections, strategies, performance, and future plans, and underlying assumptions and other statements related thereto. You should not place undue reliance on these forward-looking statements. By their nature, forward-looking statements are subject to risks, uncertainties, assumptions and other important factors that may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements. Important factors that could cause actual results, performance, or achievements to differ materially from those expressed in or implied by forward-looking statements include, without limitation, the following: adverse changes and volatility in general economic conditions, including the interest rate environment and the financial markets; the sufficiency of our allowance for finance receivable losses; increased levels of unemployment and personal bankruptcies; the current inflationary environment and related trends affecting our customers; natural or accidental events such as earthquakes, hurricanes, pandemics, floods or wildfires affecting our customers, collateral, or our facilities; a failure in or breach of our information, operational or security systems or infrastructure or those of third parties, including as a result of cyber incidents, war or other disruptions; the adequacy of our credit risk scoring models; geopolitical risks, including recent geopolitical actions; adverse changes in our ability to attract and retain employees or key executives; increased competition or adverse changes in customer responsiveness to our distribution channels or products; changes in federal, state, or local laws, regulations, or regulatory policies and practices or increased regulatory scrutiny of our business or industry; risks associated with our insurance operations; the costs and effects of any actual or alleged violations of any federal, state, or local laws, rules or regulations; the costs and effects of any fines, penalties, judgments, decrees, orders, inquiries, investigations, subpoenas, or enforcement or other proceedings of any governmental or quasi-governmental agency or authority; our substantial indebtedness and our continued ability to access the capital markets and maintain adequate current sources of funds to satisfy our cash flow requirements; our ability to comply with all of our covenants; the effects of any downgrade of our debt ratings by credit rating agencies; and other risks and uncertainties described in the "Risk Factors" and "Management's Discussion and Analysis" sections of the Company's most recent Form 10-K filed with the SEC and in the Company's other filings with the SEC from time to time.
If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. You should specifically consider the factors identified in this document that could cause actual results to differ before making an investment decision to purchase our securities. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us.
Forward looking statements included in this document speak only as of the date on which they were made. We undertake no obligation to update or revise any forward-looking statements, whether written or oral, to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events or the non-occurrence of anticipated events, whether as a result of new information, future developments or otherwise, except as required by law.
OneMain Holdings, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Quarter Ended
Fiscal Year
(unaudited, $ in millions, except per share amounts)
Sep 30,
2026
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
2025
2024
Interest income
$ 1,491
$ 1,417
$ 1,387
$ 1,416
$ 1,392
$ 5,455
$ 4,993
Interest expense
(345)
(326)
(322)
(323)
(320)
(1,272)
(1,185)
Net interest income
1,146
1,091
1,065
1,093
1,072
4,183
3,808
Provision for finance receivable losses
(615)
(610)
(465)
(542)
(488)
(1,997)
(2,040)
Net interest income after provision for finance receivable losses
531
481
600
551
584
2,186
1,768
Insurance
113
112
112
113
112
445
445
Investment
24
25
23
22
26
98
108
Gain on sales of finance receivables
16
16
16
14
17
64
23
Net loss on repurchases and repayments of debt
—
(1)
(3)
(1)
(39)
(67)
(34)
Other
59
55
49
45
47
180
153
Total other revenues
212
207
197
193
163
720
695
Operating expenses
(457)
(448)
(449)
(447)
(436)
(1,707)
(1,607)
Insurance policy benefits and claims
(53)
(44)
(52)
(48)
(48)
(198)
(189)
Total other expenses
(510)
(492)
(501)
(495)
(484)
(1,905)
(1,796)
Income before income taxes
233
196
296
249
263
1,001
667
Income taxes
(48)
(44)
(70)
(45)
(64)
(218)
(158)
Net income
$ 185
$ 152
$ 226
$ 204
$ 199
$ 783
$ 509
Weighted average number of diluted shares
115.5
115.8
117.3
118.3
119.4
119.3
120.1
Diluted EPS
$ 1.60
$ 1.32
$ 1.93
$ 1.72
$ 1.67
$ 6.56
$ 4.24
Book value per basic share
$ 29.59
$ 29.40
$ 29.21
$ 29.01
$ 28.53
$ 29.01
$ 26.74
Return on assets
2.6 %
2.3 %
3.4 %
3.0 %
3.0 %
2.9 %
2.0 %
Change in allowance for finance receivable losses
$ (146)
$ (104)
$ 46
$ (50)
$ (61)
$ (160)
$ (194)
Net charge-offs
(469)
(506)
(511)
(492)
(427)
(1,837)
(1,846)
Provision for finance receivable losses
$ (615)
$ (610)
$ (465)
$ (542)
$ (488)
$ (1,997)
$ (2,040)
Note:
Quarters may not sum to fiscal year due to rounding.
OneMain Holdings, Inc.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
As of
(unaudited, $ in millions)
Sep 30,
2026
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
Assets
Cash and cash equivalents
$ 936
$ 567
$ 834
$ 914
$ 658
Investment securities
1,550
1,649
1,614
1,590
1,657
Net finance receivables
26,273
25,145
24,447
24,833
24,465
Unearned insurance premium and claim reserves
(825)
(792)
(771)
(791)
(783)
Allowance for finance receivable losses
(3,069)
(2,923)
(2,819)
(2,865)
(2,815)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance
receivable losses
22,379
21,430
20,857
21,177
20,867
Restricted cash and restricted cash equivalents
751
738
728
699
748
Goodwill
1,474
1,474
1,474
1,474
1,474
Other intangible assets
278
279
281
282
284
Other assets
1,349
1,287
1,230
1,252
1,297
Total assets
$ 28,717
$ 27,424
$ 27,018
$ 27,388
$ 26,985
Liabilities and Shareholders' Equity
Long-term debt
$ 24,074
$ 22,769
$ 22,396
$ 22,694
$ 22,338
Insurance claims and policyholder liabilities
530
552
566
576
578
Deferred and accrued taxes
18
16
55
35
42
Other liabilities
704
704
624
682
649
Total liabilities
25,326
24,041
23,641
23,987
23,607
Common stock
1
1
1
1
1
Additional paid-in capital
1,768
1,758
1,750
1,757
1,750
Accumulated other comprehensive loss
(86)
(54)
(53)
(41)
(47)
Retained earnings
2,773
2,710
2,680
2,579
2,500
Treasury stock
(1,065)
(1,032)
(1,001)
(895)
(826)
Total shareholders' equity
3,391
3,383
3,377
3,401
3,378
Total liabilities and shareholders' equity
$ 28,717
$ 27,424
$ 27,018
$ 27,388
$ 26,985
OneMain Holdings, Inc.
CONSOLIDATED KEY FINANCIAL METRICS (UNAUDITED)
As of
(unaudited, $ in millions)
Sep 30,
2026
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
Liquidity
Cash and cash equivalents
$ 936
$ 567
$ 834
$ 914
$ 658
Cash and cash equivalents unavailable for general corporate purposes
Allowance for finance receivable losses, net of tax *
2,302
2,192
2,114
2,149
2,111
Adjusted capital
$ 4,200
$ 4,049
$ 3,962
$ 4,008
$ 3,950
Net leverage (net adjusted debt to adjusted capital)
5.5x
5.5x
5.4x
5.4x
5.5x
*
Income taxes assume a 25% tax rate.
OneMain Holdings, Inc.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)
Quarter Ended
Fiscal Year
(unaudited, $ in millions)
Sep 30,
2026
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
2025
2024
Consumer & Insurance
$ 231
$ 194
$ 293
$ 247
$ 261
$ 988
$ 707
Other
—
(1)
—
—
(2)
(4)
(1)
Segment to GAAP adjustment
2
3
3
2
4
17
(39)
Income before income taxes - GAAP basis
$ 233
$ 196
$ 296
$ 249
$ 263
$ 1,001
$ 667
Consumer & Insurance pretax income
$ 231
$ 194
$ 293
$ 247
$ 261
$ 988
$ 707
Net loss on repurchases and repayments of debt
—
1
3
—
39
65
33
Restructuring charges
—
5
7
1
2
4
29
Other (1)
1
1
2
2
1
3
13
Consumer & Insurance adjusted pretax income (non-GAAP)
$ 232
$ 201
$ 305
$ 250
$ 303
$ 1,060
$ 782
Reconciling items (2)
$ 1
$ (4)
$ (9)
$ (1)
$ (38)
$ (55)
$ (114)
Consumer & Insurance
$ 26,283
$ 25,157
$ 24,463
$ 24,853
$ 24,490
$ 24,853
$ 23,598
Segment to GAAP adjustment
(10)
(12)
(16)
(20)
(25)
(20)
(44)
Net finance receivables - GAAP basis
$ 26,273
$ 25,145
$ 24,447
$ 24,833
$ 24,465
$ 24,833
$ 23,554
Consumer & Insurance
$ 3,071
$ 2,925
$ 2,821
$ 2,868
$ 2,818
$ 2,868
$ 2,710
Segment to GAAP adjustment
(2)
(2)
(2)
(3)
(3)
(3)
(5)
Allowance for finance receivable losses - GAAP basis
$ 3,069
$ 2,923
$ 2,819
$ 2,865
$ 2,815
$ 2,865
$ 2,705
Note:
Quarters may not sum to fiscal year due to rounding.
(1)
Includes strategic activities and other items.
(2)
Reconciling items consist of Segment to GAAP adjustment and the adjustments to Pretax income – segment accounting basis for C&I and Other. The adjustments to Other adjusted pretax income (loss) are not disclosed in the table above due to immateriality.
Consumer & Insurance financial information is presented on a Segment Accounting Basis. Delinquency ratios are calculated as a percentage of C&I consumer loan net finance receivables. Amounts may not sum due to rounding.
Defined Terms
Adjusted capital: adjusted tangible common equity plus allowance for finance receivable losses (ALLL), net of taxAdjusted tangible common equity (TCE): total shareholders' equity less accumulated other comprehensive loss less goodwill less other intangible assets plus junior subordinated debtAuto finance: financing at the point of purchase through a network of auto dealershipsAvailable cash and cash equivalents: cash and cash equivalents less cash and cash equivalents held at our regulated insurance subsidiaries or is unavailable for general corporate purposesAverage total assets: average of monthly average total assets (total assets at the beginning and end of each month divided by two) in the periodC&I adjusted diluted EPS: C&I adjusted net income (non-GAAP) / weighted average diluted sharesCapital generation: C&I adjusted net income less change in C&I allowance for finance receivable losses, net of taxCapital generation return on receivables*: annualized capital generation / C&I average net receivablesConsumer loans: personal loans and auto financeFinance receivables serviced for others: unpaid principal balance plus accrued interest of loans sold as part of our whole loan sale program plus auto finance loans originated by third parties.Gross charge-off ratio*: annualized gross charge-offs / average net receivablesManaged receivables: C&I net finance receivables plus finance receivables serviced for our whole loan sale partners plus auto finance loans originated by third partiesNet adjusted debt: long-term debt less junior subordinated debt less available cash and cash equivalentsNet charge-off ratio*: annualized net charge-offs / average net receivablesNet leverage: net adjusted debt / adjusted capitalOpex ratio: annualized C&I operating expenses / average managed receivablesOrigination volume: loans originated during the period, including those originated and sold to our whole loan sale partners that we continue to serviceOther net revenue: other revenues less insurance policy benefits and claims expensePersonal loans: loans secured by automobiles, other collateral or are unsecured and offered through our branch network, central operations, or digital platformPretax capital generation: C&I pretax adjusted net income less change in C&I allowance for finance receivable lossesPurchase volume: credit card purchase transactions plus cash advances less returnsReturn on assets (ROA): annualized net income / average total assetsReturn on receivables (C&I ROR): annualized C&I adjusted net income / C&I average net receivablesTotal revenue: C&I interest income plus C&I total other revenueUnencumbered receivables: unencumbered unpaid principal balance of consumer loans and credit cards. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card receivables include those in the trust that exceed the minimum for securing advances under credit card variable funding note facilities, which the Company can remove from the trust under the terms of such facilities, and exclude interest, fees, and closed accounts with balances*
Fiscal year 2024 adjusted for policy alignment associated with the Foursight acquisition.
OneMain Holdings, Inc.
Investor Contact:
Peter R. Poillon, 212-359-2432
[email protected]
Media Contact:
Maggie Gage, 202-538-9660
[email protected]
NEW YORK--(BUSINESS WIRE)--WisdomTree, Inc. (NYSE: WT), a modern global asset manager, today reported financial results for the third quarter of 2026.
$49.2 million of net income ($49.5(1) million, as adjusted). See “Non-GAAP Financial Measurements” for a reconciliation to net income.
$171.0 billion of ending AUM, an increase of 5.0% from the prior quarter arising from net inflows and market appreciation.
$4.6 billion of net inflows, across the United States and Europe primarily driven by inflows into our fixed income, commodity and U.S. equity products.
0.36% average advisory fee, unchanged from the prior quarter.
0.42% revenue yield(2), a 1 basis point decrease from the prior quarter due to lower transaction fees from our European ETPs and lower performance fees.
$179.4 million of operating revenues, an increase of 1.3% from the prior quarter due to higher average AUM, partly offset by lower transaction fees from our European ETPs and lower performance fees.
83.0% gross margin(1), essentially unchanged from the prior quarter.
41.3% operating income margin for the quarter (43.1% as adjusted), a 0.8 point increase (0.5 point increase, as adjusted) from the prior quarter primarily due to higher revenues.
39.8% operating income margin year-to-date (41.8% as adjusted), a 6.8 point increase (7.5 point(3) increase, as adjusted) from the prior-year period. The increase primarily reflected favorable operating leverage from revenue growth, partially offset by higher intangible amortization associated with the Ceres Partners, LLC (“Ceres”) and Atlantic House Holdings Limited (“Atlantic House”) acquisitions. Adjusted operating income excludes intangible asset amortization and acquisition-related costs.
$18.1 million aggregate principal amount of convertible senior notes due 2029 (the “2029 Notes”) retired, for aggregate cash consideration of $32.3 million. The conversion price of the 2029 Notes was $11.82.
$10.6 million of common stock repurchased, representing approximately 0.5 million shares at an average repurchase price of $21.29 per share.
$0.03 quarterly dividend declared, payable on November 25, 2026 to stockholders of record as of the close of business on November 11, 2026.
Update from Jarrett Lilien, WisdomTree President and COO
Update from Jonathan Steinberg, WisdomTree CEO
OPERATING AND FINANCIAL HIGHLIGHTS
Three Months Ended
Sept. 30,
2026
June 30,
2026
Mar. 31,
2026
Dec. 31,
2025
Sept. 30,
2025
Consolidated Operating Highlights ($ in billions):
AUM—end of period
$
171.0
$
162.9
$
152.6
$
144.5
$
137.2
Net inflows/(outflows)
$
4.6
$
3.1
$
5.9
$
(0.3
)
$
2.2
Average AUM
$
170.5
$
164.2
$
154.7
$
140.7
$
130.8
Average advisory fee
0.36%
0.36%
0.36%
0.35%
0.35%
Revenue yield(2)
0.42%
0.43%
0.42%
0.42%
0.38%
Consolidated Financial Highlights ($ in millions, except per share amounts):
Operating revenues
$
179.4
$
177.2
$
159.5
$
147.4
$
125.6
Net income/(loss)
$
49.2
$
44.3
$
(23.1
)
$
40.0
$
19.7
Diluted earnings/(loss) per share
$
0.32
$
0.28
$
(0.17
)
$
0.28
$
0.13
Operating income margin
41.3%
40.5%
37.2%
40.5%
36.3%
As Adjusted (Non-GAAP(1)):
Operating revenues, as adjusted
$
179.4
$
177.2
$
159.5
$
147.4
$
125.6
Gross margin
83.0%
82.9%
84.4%
83.2%
82.2%
Net income, as adjusted
$
49.5
$
48.1
$
40.6
$
41.2
$
34.5
Diluted earnings per share, as adjusted
$
0.32
$
0.31
$
0.27
$
0.29
$
0.23
Operating income margin, as adjusted
43.1%
42.6%
39.3%
41.7%
38.3%
RECENT BUSINESS DEVELOPMENTS
WISDOMTREE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(Unaudited)
Three Months Ended
Nine Months Ended
Sept. 30,
2026
June 30,
2026
Mar. 31,
2026
Dec. 31,
2025
Sept. 30,
2025
Sept. 30,
2026
Sept. 30,
2025
Operating Revenues:
Advisory fees
$
151,631
$
146,300
$
134,880
$
122,712
$
114,485
$
432,811
$
317,275
Management fees
5,420
5,369
5,231
4,908
—
16,020
—
Performance fees
3,778
5,964
2,955
7,105
—
12,697
—
Other revenues
18,546
19,527
16,404
12,709
11,131
54,477
29,044
Total revenues
179,375
177,160
159,470
147,434
125,616
516,005
346,319
Operating Expenses:
Compensation and benefits
44,770
43,718
47,517
37,273
33,791
136,005
100,406
Fund management and administration
30,532
30,229
24,880
24,830
22,353
85,641
64,319
Marketing and advertising
5,426
6,041
5,392
5,613
4,788
16,859
14,931
Sales and business development
4,820
4,938
4,197
4,045
3,943
13,955
12,312
Professional fees
4,263
4,098
3,308
3,596
3,505
11,669
9,464
Occupancy, communications and equipment
2,620
2,229
1,935
1,892
1,601
6,784
4,642
Depreciation and amortization
4,028
3,415
2,096
2,043
615
9,539
1,735
Third-party distribution fees
5,334
5,401
5,795
4,772
3,977
16,530
11,172
Acquisition-related costs
—
1,118
1,933
317
2,409
3,051
4,376
Other
3,460
4,162
3,067
3,306
2,980
10,689
8,514
Total operating expenses
105,253
105,349
100,120
87,687
79,962
310,722
231,871
Operating income
74,122
71,811
59,350
59,747
45,654
205,283
114,448
Other Income/(Expenses):
Interest expense
(13,520
)
(14,852
)
(11,023
)
(11,023
)
(8,466
)
(39,395
)
(19,397
)
Interest income
1,841
3,203
2,592
2,965
4,015
7,636
8,002
Loss on repurchase of convertible notes
—
(6,623
)
(62,302
)
(833
)
(13,011
)
(68,925
)
(13,011
)
Remeasurement of contingent consideration
2,069
(1,360
)
(2,562
)
(710
)
—
(1,853
)
—
Other losses and gains, net
(35
)
6,368
(637
)
317
1,325
5,696
1,713
Income/(loss) before income taxes
64,477
58,547
(14,582
)
50,463
29,517
108,442
91,755
Income tax expense
15,261
14,263
8,549
10,437
9,816
38,073
22,648
Net income/(loss)
$
49,216
$
44,284
$
(23,131
)
$
40,026
$
19,701
$
70,369
$
69,107
Earnings/(loss) per share—basic
$
0.33
$
0.30
$
(0.17
)
$
0.29
$
0.14(4
)
$
0.49
$
0.48
Earnings/(loss) per share—diluted
$
0.32
$
0.28
$
(0.17
)
$
0.28
$
0.13(4
)
$
0.46
$
0.47
Weighted average common shares—basic
147,570
149,001
138,005
136,340
139,584
144,894
141,736
Weighted average common shares—diluted
156,179
156,276
138,005
143,314
150,675
153,767
146,360
As Adjusted (Non-GAAP(1))
Total revenues
$ 179,375
$ 177,160
$ 159,470
$ 147,434
$ 125,616
Total operating expenses
$ 102,032
$ 101,619
$ 96,752
$ 85,936
$ 77,553
Operating income
$ 77,343
$ 75,541
$ 62,718
$ 61,498
$ 48,063
Income before income taxes
$ 65,679
$ 63,354
$ 54,654
$ 53,840
$ 45,318
Income tax expense
$ 16,199
$ 15,274
$ 14,061
$ 12,605
$ 10,842
Net income
$ 49,480
$ 48,080
$ 40,593
$ 41,235
$ 34,476
Earnings per share—diluted
$ 0.32
$ 0.31
$ 0.27
$ 0.29
$ 0.23
Weighted average common shares—diluted
156,179
156,276
152,372
143,314
150,675
QUARTERLY HIGHLIGHTS
Operating Revenues
Operating revenues increased 1.3% from the second quarter of 2026 due to higher average AUM, partly offset by lower transaction fees from our European ETPs and lower performance fees. Operating revenues increased 42.8% from the third quarter of 2025 due to higher average AUM, a higher average advisory fee, revenues arising from the Ceres and Atlantic House acquisitions and increased other revenues from our European listed ETPs. Our average advisory fee was 0.36% for the second and third quarters of 2026 and 0.35% for the third quarter of 2025. Operating Expenses
Operating expenses were essentially unchanged from the second quarter of 2026. Operating expenses increased 31.6% from the third quarter of 2025 primarily due to higher incentive compensation and headcount, as well as increased fund management and administration expenses, intangible asset amortization related to the Ceres and Atlantic House acquisitions and third-party distribution fees, partly offset by lower acquisition-related costs. Other Income/(Expenses)
Interest expense decreased 9.0% from the second quarter of 2026, reflecting a lower level of debt outstanding. Interest expense increased 59.7% from the third quarter of 2025, reflecting a higher level of debt outstanding and higher interest rates. Interest income decreased 42.5% and 54.1% from the second quarter of 2026 and the third quarter of 2025, respectively, reflecting a lower level of interest earning assets following recent debt retirements and stock repurchases. Contingent consideration related to the Ceres acquisition decreased from $15.8 million on June 30, 2026 to $13.7 million at September 30, 2026, resulting in a $2.1 million gain on remeasurement recognized during the third quarter of 2026. Other losses and gains, net, was a loss of $0.04 million for the third quarter of 2026. Gains and losses generally arise on our financial instruments and investments owned, as well as from the sale of gold and cryptocurrency earned from advisory fees paid by our physically-backed gold and crypto ETPs, foreign exchange fluctuations and miscellaneous items. Income Taxes
Our effective income tax rate for the third quarter of 2026 was 23.7%, resulting in income tax expense of $15.3 million. The effective tax rate differs from the U.S. federal statutory rate of 21.0% primarily due to non-deductible executive compensation and state taxes, partly offset by a reduction in the capital loss valuation allowance. Our adjusted effective income tax rate for the third quarter of 2026 was 24.7%(1). NINE MONTH HIGHLIGHTS
Operating revenues increased 49.0% as compared to 2025 due to higher average AUM, a higher average advisory fee, revenues arising from the Ceres and Atlantic House acquisitions and increased other revenues from our European listed ETPs. Operating expenses increased 34.0% as compared to 2025 primarily due to higher incentive compensation and headcount, as well as increased fund management and administration expenses, third-party distribution fees and intangible asset amortization arising from the Ceres and Atlantic House acquisitions. Significant items reported in other income/(expense) in 2026 include: an increase in interest expense of 103.1% due to a higher level of debt outstanding and higher interest rates; a decrease in interest income of 4.6% reflecting a lower level of interest earning assets following recent debt retirements and stock repurchases; a remeasurement gain of $4.4 million on British pounds held to complete the Atlantic House acquisition, net gains on our financial instruments owned of $2.0 million, net losses on our investments of $0.4 million and $0.6 million of foreign currency remeasurement gains on U.S. dollars held by foreign subsidiaries. Gains and losses also generally arise from the sale of gold earned on advisory fees paid by our physically-backed gold ETPs, other foreign exchange fluctuations and miscellaneous items. Our effective income tax rate for 2026 was 35.1%, resulting in an income tax expense of $38.1 million. The effective tax rate differs from the federal statutory rate of 21.0% primarily due to non-deductible amounts associated with the repurchase of convertible notes. CONFERENCE CALL DIAL-IN AND WEBCAST DETAILS
WisdomTree will discuss its results and operational highlights during a live webcast on Friday, October 30, 2026 at 11:00 a.m. ET, which, together with all earnings materials, can be accessed via WisdomTree’s investor relations website at https://ir.wisdomtree.com. A replay of the webcast will be available shortly after the call.
Participants also can dial in using the following numbers: (877) 407-9210 or (201) 689-8049. Click here to access the participant international toll-free access numbers.
To avoid delays, we encourage participants to log in or dial into the conference call 10 minutes ahead of the scheduled start time.
About WisdomTree
WisdomTree is a modern global asset manager with capabilities across public markets, private markets, tokenization and onchain finance. We offer a diverse suite of exchange-traded products, models and solutions, private market investments and blockchain-enabled products and services, helping investors shape their financial future and financial professionals grow their businesses. Through WisdomTree Onchain™, we combine tokenized investment products, infrastructure and distribution capabilities into an integrated financial services platform serving retail and institutional investors.
WisdomTree currently has approximately $175.0 billion in assets under management globally, inclusive of assets managed by Ceres as of the last reportable period.
For more information about WisdomTree visit: https://www.wisdomtree.com.
For more information about WisdomTree Onchain, visit: https://www.wisdomtree.com/onchain.
Please visit us on X at @WisdomTreeNews.
WisdomTree® is the marketing name for WisdomTree, Inc. and its subsidiaries worldwide.
The WisdomTree Connect™ institutional platform and WisdomTree Prime® digital wallet and digital asset services are made available through WisdomTree Digital Movement, Inc., a federally registered money services business, state-licensed money transmitter and financial technology company (NMLS ID: 2372500) or WisdomTree Digital Trust Company, LLC, and may be limited where prohibited by law. WisdomTree Digital Trust Company, LLC is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business. Visit https://wisdomtreeconnect.com, https://www.wisdomtreeprime.com or the WisdomTree Prime mobile app for more information.
PRODUCTS AND SERVICES AVAILABLE VIA WISDOMTREE CONNECT AND WISDOMTREE PRIME:
NOT FDIC INSURED | NO BANK GUARANTEE | NOT A BANK DEPOSIT | MAY LOSE VALUE | NOT SIPC PROTECTED | NOT INSURED, ENDORSED, INDEMNIFIED OR GUARANTEED BY ANY GOVERNMENT AGENCY
References to third-party platforms, protocols, or use cases are provided for informational purposes only and do not constitute an endorsement, recommendation, or solicitation by WisdomTree or its affiliates. WisdomTree and its affiliates do not control or operate such third-party platforms or protocols and are not responsible for their operation or performance.
_______________________ (1)
See “Non-GAAP Financial Measurements.”
(2)
Revenue yield is computed by dividing our annualized adjusted operating revenues as reported in the GAAP to Non-GAAP Reconciliation herein by our average AUM during the period.
(3)
Adjusted operating margin is calculated as adjusted operating income divided by total revenues. Adjusted operating income excludes intangible asset amortization of $7.3 million for the nine months ended September 30, 2026 (none in the prior year period) and acquisition-related costs of $3.1 million and $4.4 million for the nine months ended September 30, 2026 and 2025, respectively.
(4)
Earnings per share (“EPS”) is calculated pursuant to the two-class method as it results in a lower EPS amount as compared to the treasury stock method. In addition, the three months ended September 30, 2025 includes $0.7 million of stock repurchase excise taxes, which is excluded from net income, but is required to be added to net income to arrive at income available to common stockholders in the calculation of EPS. This item is excluded from our EPS when computed on a non-GAAP basis.
WISDOMTREE, INC. AND SUBSIDIARIES
KEY OPERATING STATISTICS
(Unaudited)
Three Months Ended
Sept. 30,
2026
June 30,
2026
Mar. 31,
2026
Dec. 31,
2025
Sept. 30,
2025
GLOBAL PRODUCTS ($ in millions)
Beginning of period assets
$
162,910
$
152,556
$
144,525
$
137,175
$
126,070
Add: Assets acquired—Ceres acquisition
—
—
—
1,812
—
Add: Assets acquired—Atlantic House acquisition
—
4,137
—
—
—
Inflows/(outflows)
4,622
3,063
5,934
(283
)
2,241
Market appreciation
3,453
3,154
2,097
5,821
8,864
End of period assets
$
170,985
$
162,910
$
152,556
$
144,525
$
137,175
Average assets during the period
$
170,504
$
164,150
$
154,654
$
140,686
$
130,760
Average ETPs and tokenized products during the period
$
168,466
$
162,151
$
152,716
$
138,871
$
130,760
Average ETP advisory fee during the period
0.36%
0.36%
0.36%
0.35%
0.35%
Total revenue yield
0.42%
0.43%
0.42%
0.42%
0.38%
Revenue days
92
91
90
92
92
Number of products—end of the period
434
428
414
405
397
ETPs AND ONCHAIN PRODUCTS
U.S. LISTED ETFs ($ in millions)
Beginning of period assets
$
99,014
$
90,946
$
88,521
$
88,293
$
85,179
Inflows/(outflows)
2,382
1,079
2,643
(1,108
)
(445
)
Market appreciation/(depreciation)
240
6,989
(218
)
1,336
3,559
End of period assets
$
101,636
$
99,014
$
90,946
$
88,521
$
88,293
Average assets during the period
$
101,620
$
96,585
$
91,742
$
88,074
$
87,205
Number of ETFs—end of the period
93
92
90
85
84
EUROPEAN LISTED ETPs ($ in millions)
Beginning of period assets
$
61,106
$
58,758
$
53,345
$
48,290
$
40,541
Add: Assets acquired—Atlantic House acquisition
—
4,137
—
—
—
Inflows
1,731
2,090
3,118
609
2,448
Market appreciation/(depreciation)
3,184
(3,879
)
2,295
4,446
5,301
End of period assets
$
66,021
$
61,106
$
58,758
$
53,345
$
48,290
Average assets during the period
$
65,874
$
64,649
$
60,193
$
50,102
$
42,853
Number of ETPs—end of the period
320
315
304
300
295
ONCHAIN AUM ($ in millions)
Beginning of period assets
$
761
$
867
$
770
$
592
$
350
Inflows/(outflows)
509
(110
)
98
179
238
Market appreciation/(depreciation)
3
4
(1
)
(1
)
4
End of period assets
$
1,273
$
761
$
867
$
770
$
592
Average assets during the period
$
972
$
917
$
781
$
695
$
702
Number of products—end of the period
19
19
19
19
18
PRIVATE ASSETS ($ in millions)
Beginning of period assets
$
2,029
$
1,985
$
1,889
$
—
$
—
Add: Assets acquired—Ceres acquisition
—
—
—
1,812
—
Inflows
—
4
75
37
—
Market appreciation
26
40
21
40
—
End of period assets
$
2,055
$
2,029
$
1,985
$
1,889
$
—
Average assets during the period
$
2,038
$
1,999
$
1,938
$
1,815
$
—
Number of products—end of the period
2
2
1
1
—
ETPs AND ONCHAIN PRODUCT CATEGORIES ($ in millions)
U.S. Equity
Beginning of period assets
$
46,371
$
41,511
$
41,427
$
40,977
$
38,617
Inflows
769
458
354
191
32
Market appreciation/(depreciation)
57
4,402
(270
)
259
2,328
End of period assets
$
47,197
$
46,371
$
41,511
$
41,427
$
40,977
Average assets during the period
$
47,740
$
44,884
$
42,394
$
41,161
$
40,024
Commodity & Currency
Beginning of period assets
$
37,586
$
40,310
$
36,980
$
31,705
$
26,696
Inflows
1,009
1,890
35
177
1,096
Market appreciation/(depreciation)
2,497
(4,614
)
3,295
5,098
3,913
End of period assets
$
41,092
$
37,586
$
40,310
$
36,980
$
31,705
Average assets during the period
$
41,206
$
41,749
$
41,458
$
33,824
$
28,162
International Developed Market Equity
Beginning of period assets
$
32,219
$
29,186
$
25,616
$
23,893
$
21,725
(Outflows)/inflows
(135
)
749
3,495
1,147
478
Market appreciation
422
2,284
75
576
1,690
End of period assets
$
32,506
$
32,219
$
29,186
$
25,616
$
23,893
Average assets during the period
$
32,909
$
32,022
$
29,349
$
24,708
$
22,481
Fixed Income
Beginning of period assets
$
22,658
$
22,395
$
21,074
$
22,509
$
22,543
Inflows/(outflows)
2,719
320
1,272
(1,358
)
(58
)
Market (depreciation)/appreciation
(200
)
(57
)
49
(77
)
24
End of period assets
$
25,177
$
22,658
$
22,395
$
21,074
$
22,509
Average assets during the period
$
23,862
$
22,179
$
21,187
$
21,422
$
23,128
Emerging Market Equity
Beginning of period assets
$
11,279
$
10,143
$
10,643
$
10,855
$
10,957
Outflows
(106
)
(106
)
(206
)
(508
)
(250
)
Market (depreciation)/appreciation
(80
)
1,242
(294
)
296
148
End of period assets
$
11,093
$
11,279
$
10,143
$
10,643
$
10,855
Average assets during the period
$
11,248
$
11,188
$
10,902
$
10,839
$
10,874
Alternatives
Beginning of period assets
$
5,708
$
1,580
$
1,379
$
1,155
$
814
Add: Assets acquired—Atlantic House acquisition
—
4,137
—
—
—
Inflows
52
31
207
163
231
Market appreciation/(depreciation)
92
(40
)
(6
)
61
110
End of period assets
$
5,852
$
5,708
$
1,580
$
1,379
$
1,155
Average assets during the period
$
5,865
$
4,462
$
1,620
$
1,270
$
929
Leveraged & Inverse
Beginning of period assets
$
3,464
$
3,663
$
3,275
$
2,913
$
2,631
Inflows/(outflows)
272
(354
)
565
(15
)
(52
)
Market (depreciation)/appreciation
(102
)
155
(177
)
377
334
End of period assets
$
3,634
$
3,464
$
3,663
$
3,275
$
2,913
Average assets during the period
$
3,665
$
3,772
$
3,785
$
3,097
$
2,750
Cryptocurrency
Beginning of period assets
$
1,596
$
1,783
$
2,242
$
3,168
$
2,087
Inflows/(outflows)
42
71
137
(117
)
764
Market appreciation/(depreciation)
741
(258
)
(596
)
(809
)
317
End of period assets
$
2,379
$
1,596
$
1,783
$
2,242
$
3,168
Average assets during the period
$
1,971
$
1,895
$
2,021
$
2,550
$
2,412
Headcount
438
414
357
360
338
Note: Previously issued statistics may be restated due to fund closures and trade adjustments.
Source: WisdomTree
WISDOMTREE, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
Sept. 30,
2026
Dec. 31,
2025
(Unaudited)
ASSETS
Current assets:
Cash, cash equivalents and restricted cash
$
299,740
$
311,732
Financial instruments owned, at fair value
41,014
107,117
Accounts receivable
72,696
64,452
Prepaid expenses
11,326
7,338
Other current assets
2,304
1,723
Total current assets
427,080
492,362
Fixed assets, net
548
431
Deferred tax assets, net
—
9,803
Investments
31,747
29,075
Right of use assets—operating leases
2,324
2,764
Goodwill
360,495
228,624
Intangible assets, net
823,447
748,957
Other noncurrent assets
1,445
925
Total assets
$
1,647,086
$
1,512,941
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Current liabilities:
Compensation and benefits payable
$
48,286
$
52,435
Fund management and administration payable
31,766
29,448
Payable to Gold Bullion Holdings (Jersey) Limited (“GBH”)
14,667
13,940
Income taxes payable
3,889
2,295
Operating lease liabilities
1,752
1,614
Convertible notes—current
—
149,604
Accounts payable and other liabilities
20,212
32,720
Total current liabilities
120,572
282,056
Convertible notes—long term
1,058,716
804,203
Contingent consideration
13,697
11,844
Deferred tax liabilities
7,776
—
Operating lease liabilities—long term
582
1,166
Total liabilities
1,201,343
1,099,269
STOCKHOLDERS’ EQUITY
Common stock, par value $0.01; 400,000 shares authorized:
Issued and outstanding: 151,154 and 140,713 at September 30, 2026 and December 31, 2025, respectively
1,512
1,407
Additional paid-in capital
168,751
189,244
Accumulated other comprehensive (loss)/income
(2,527
)
2,227
Retained earnings
278,007
220,794
Total stockholders’ equity
445,743
413,672
Total liabilities and stockholders’ equity
$
1,647,086
$
1,512,941
WISDOMTREE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(Unaudited)
Nine Months Ended
September 30,
2026
2025
Cash flows from operating activities:
Net income
$
70,369
$
69,107
Adjustments to reconcile net income to net cash provided by operating activities:
Advisory and license fees paid in gold, other precious metals and cryptocurrency
(69,127
)
(51,354
)
Loss on repurchase of convertible notes
68,925
13,011
Stock-based compensation
23,701
16,645
Depreciation and amortization
9,539
1,735
Amortization of issuance costs—convertible notes
3,546
2,151
Gains on financial instruments owned, at fair value
(2,015
)
(1,914
)
Increase in fair value of contingent consideration
1,853
—
Deferred income taxes
(1,512
)
2,628
Amortization of right of use asset
1,491
1,003
Imputed interest on payable to GBH
727
1,405
Losses on investments
435
49
Changes in operating assets and liabilities:
Accounts receivable
(2,887
)
582
Income taxes payable
1,294
(40
)
Prepaid expenses
(2,917
)
(2,351
)
Gold and other precious metals
69,733
49,686
Other assets
(27
)
(482
)
Fund management and administration payable
2,614
(749
)
Compensation and benefits payable
(8,412
)
(6,328
)
Operating lease liabilities
(1,480
)
(987
)
Accounts payable and other liabilities
(12,705
)
(540
)
Net cash provided by operating activities
153,145
93,257
Cash flows from investing activities:
Purchase of financial instruments owned, at fair value
(20,512
)
(25,314
)
Purchase of investments
(3,107
)
(17,553
)
Cash paid—software development
(2,659
)
(2,015
)
Purchase of fixed assets
(252
)
(154
)
Proceeds from the sale of financial instruments owned, at fair value
87,219
8,860
Cash paid—Atlantic House acquisition, net of cash acquired
(197,488
)
—
Net cash used in investing activities
(136,799
)
(36,176
)
Cash flows from financing activities:
Repurchase of convertible notes
(542,545
)
(36,681
)
Common stock repurchased
(61,506
)
(102,732
)
Dividends paid
(13,451
)
(13,218
)
Issuance costs—convertible notes
(12,593
)
(11,064
)
Proceeds from the issuance of convertible notes
603,750
475,000
Net cash (used in)/provided by financing activities
(26,345
)
311,305
(Decrease)/increase in cash flow due to changes in foreign exchange rate
(1,993
)
6,274
Net (decrease)/increase in cash, cash equivalents and restricted cash
(11,992
)
374,660
Cash, cash equivalents and restricted cash—beginning of year
311,732
181,191
Cash, cash equivalents and restricted cash—end of period
$
299,740
$
555,851
Supplemental disclosure of cash flow information:
Cash paid for income taxes
$
35,060
$
19,999
Cash paid for interest
$
45,128
$
15,198
NON-GAAP FINANCIAL MEASUREMENTS
In an effort to provide additional information regarding our results as determined by GAAP, we also disclose certain non-GAAP information which we believe provides useful and meaningful information. Our management reviews these non-GAAP financial measurements when evaluating our financial performance and results of operations; therefore, we believe it is useful to provide information with respect to these non-GAAP measurements so as to share this perspective of management. Non-GAAP measurements do not have any standardized meaning, do not replace nor are they superior to GAAP financial measurements and are unlikely to be comparable to similar measures presented by other companies. These non-GAAP financial measurements should be considered in the context with our GAAP results. The non-GAAP financial measurements contained in this press release include the following:
Adjusted Operating Income, Operating Expenses, Income Before Income Taxes, Income Tax Expense, Net Income and Diluted Earnings per Share
We disclose adjusted operating income, operating expenses, income before income taxes, income tax expense, net income and diluted earnings per share as non-GAAP financial measurements in order to report our results exclusive of items that are non-recurring or not core to our operating business. We believe presenting these non-GAAP financial measurements provides investors with a consistent way to analyze our performance. These non-GAAP financial measurements exclude the following:
Gains or losses on financial instruments owned: We account for our financial instruments owned as trading securities, which requires these instruments to be measured at fair value with gains and losses reported in net income. We exclude these items when calculating our non-GAAP financial measurements as the gains and losses introduce earnings volatility and are not core to our operating business.
Foreign currency remeasurement gains and losses on U.S. dollars held by foreign subsidiaries: GAAP requires account balances to be remeasured into an entity’s functional currency, with resulting gains and losses reported in net income. Foreign subsidiaries holding U.S. dollars remeasure these balances into their functional currencies and recognize the gains and losses. Also excluded are remeasurement gains on British pounds held to complete the Atlantic House acquisition. We exclude remeasurement effects from our non-GAAP financial measures, as they introduce earnings volatility, are not core to our operations and arise from balances denominated in our reporting currency.
Tax windfalls and shortfalls upon vesting of stock-based compensation awards: GAAP requires the recognition of tax windfalls and shortfalls within income tax expense. These items arise upon the vesting of stock-based compensation awards and the magnitude is directly correlated to the number of awards vesting/exercised, as well as the difference between the price of our stock on the date the award was granted and the date the award vested or was exercised. We exclude these items when calculating our non-GAAP financial measurements as they introduce earnings volatility and are not core to our operating business.
Remeasurement of contingent consideration arising from the Ceres acquisition: On October 1, 2025, we completed the Ceres acquisition for aggregate consideration consisting of (i) $275 million in cash payable at closing, subject to customary post-closing adjustments and (ii) contingent consideration of up to $225 million, payable in 2030, contingent upon Ceres achieving a compound annual growth rate in revenues of 12% to 22% during the measurement period of January 1, 2025 through December 31, 2029. GAAP requires contingent consideration to be re-measured each reporting period with changes in fair value reported in net income. We exclude changes in fair value of contingent consideration when calculating our non-GAAP financial measurements as these items are not core to our operating business.
Other items: Amortization of intangible assets, changes in deferred tax asset valuation allowance, imputed interest on our payable to Gold Bullion Holdings (Jersey) Limited (“GBH”), gains and losses recognized on our investments, losses related to convertible notes transactions and acquisition-related costs are excluded when calculating our non-GAAP financial measurements.
Adjusted Effective Income Tax Rate
We disclose our adjusted effective income tax rate as a non-GAAP financial measurement in order to report our effective income tax rate exclusive of items that are non-recurring or not core to our operating business. We believe reporting our adjusted effective income tax rate provides investors with a consistent way to analyze our income taxes. Our adjusted effective income tax rate is calculated by dividing adjusted income tax expense by adjusted income before income taxes. See above for information regarding the items that are excluded.
Gross Margin and Gross Margin Percentage
We disclose our gross margin and gross margin percentage as non-GAAP financial measurements because we believe they provide investors with a consistent way to analyze the amount we retain after paying third-party service providers to operate our ETPs. These measures also assist us in analyzing the profitability of our products. We define gross margin as total adjusted operating revenues less fund management and administration expenses. Gross margin percentage is calculated as gross margin divided by total adjusted operating revenues.
GAAP to NON-GAAP RECONCILIATION (CONSOLIDATED)
(in thousands)
(Unaudited)
Three Months Ended
Adjusted Net Income and Diluted Earnings per Share:
Sept. 30,
2026
June 30,
2026
Mar. 31,
2026
Dec. 31,
2025
Sept. 30,
2025
Net income/(loss), as reported
$
49,216
$
44,284
$
(23,131
)
$
40,026
$
19,701
Add back: Amortization of intangible assets arising from the Ceres and Atlantic House acquisitions, net of income taxes
2,426
1,969
1,087
1,086
—
(Deduct)/add back: (Decrease)/increase in fair value of contingent consideration, net of income taxes
(1,566
)
1,030
1,940
538
—
(Deduct)/add back: (Decrease)/increase in deferred tax asset valuation allowance on capital losses
(636
)
(1,615
)
151
(1,237
)
(24
)
Add back: Imputed interest on payable to GBH, net of income taxes
189
183
179
285
364
(Deduct)/add back: Foreign currency remeasurement (gains)/losses on U.S. dollar balances, net of income taxes
(98
)
36
(435
)
(141
)
—
(Deduct)/add back: (Gains)/losses on financial instruments owned, net of income taxes
(49
)
(2,143
)
668
8
(810
)
(Deduct)/add back: (Gains)/losses recognized on investments, net of income taxes
(2
)
(11
)
342
(75
)
734
Add back: Losses related to convertible notes transactions, net of income taxes
—
6,572
62,280
505
12,763
Deduct: Foreign currency remeasurement gains on British pounds held to complete the Atlantic House acquisition, net of income taxes
—
(3,277
)
—
—
—
Add back: Acquisition-related costs, net of income taxes
—
1,118
1,933
240
1,824
Deduct: Tax windfalls upon vesting of stock-based compensation awards
—
(66
)
(4,421
)
—
(76
)
Adjusted net income
$
49,480
$
48,080
$
40,593
$
41,235
$
34,476
Weighted average common shares—diluted
156,179
156,276
152,372
143,314
150,675
Adjusted earnings per share—diluted
$
0.32
$
0.31
$
0.27
$
0.29
$
0.23
Three Months Ended
Gross Margin and Gross Margin Percentage:
Sept. 30,
2026
June 30,
2026
Mar. 31,
2026
Dec. 31,
2025
Sept. 30,
2025
Operating revenues
$
179,375
$
177,160
$
159,470
$
147,434
$
125,616
Deduct: Fund management and administration
(30,532
)
(30,229
)
(24,880
)
(24,830
)
(22,353
)
Gross margin
$
148,843
$
146,931
$
134,590
$
122,604
$
103,263
Gross margin percentage
83.0%
82.9%
84.4%
83.2%
82.2%
Three Months Ended
Adjusted Operating Income and Adjusted Operating Income Margin:
Sept. 30,
2026
June 30,
2026
Mar. 31,
2026
Dec. 31,
2025
Sept. 30,
2025
Operating revenues
$
179,375
$
177,160
$
159,470
$
147,434
$
125,616
Operating income
74,122
71,811
59,350
59,747
$
45,654
Add back: Amortization of intangible assets arising from the Ceres and Atlantic House acquisitions
3,221
2,612
1,435
1,434
—
Add back: Acquisition-related costs
—
1,118
1,933
317
2,409
Adjusted operating income
$
77,343
$
75,541
$
62,718
$
61,498
$
48,063
Adjusted operating income margin
43.1%
42.6%
39.3%
41.7%
38.3%
Three Months Ended
Adjusted Total Operating Expenses:
Sept. 30,
2026
June 30,
2026
Mar. 31,
2026
Dec. 31,
2025
Sept. 30,
2025
Total operating expenses
$
105,253
$
105,349
$
100,120
$
87,687
$
79,962
Deduct: Amortization of intangible assets arising from the Ceres and Atlantic House acquisitions
(3,221
)
(2,612
)
(1,435
)
(1,434
)
—
Deduct: Acquisition-related costs
—
(1,118
)
(1,933
)
(317
)
(2,409
)
Adjusted total operating expenses
$
102,032
$
101,619
$
96,752
$
85,936
$
77,553
Three Months Ended
Adjusted Income Before Income Taxes:
Sept. 30,
2026
June 30,
2026
Mar. 31,
2026
Dec. 31,
2025
Sept. 30,
2025
Income/(loss) before income taxes
$
64,477
$
58,547
$
(14,582
)
$
50,463
$
29,517
Add back: Amortization of intangible assets arising from the Ceres and Atlantic House acquisitions
3,221
2,612
1,435
1,434
—
(Deduct)/add back: (Decrease)/increase in fair value of contingent consideration
(2,069
)
1,360
2,562
710
—
Add back: Imputed interest on payable to GBH
249
242
236
377
481
(Deduct)/add back: Foreign currency remeasurement (gains)/losses on U.S. dollar balances, net of income taxes
(132
)
68
(566
)
(205
)
—
(Deduct)/add back: (Gains)/losses on financial instruments owned
(65
)
(2,831
)
882
10
(1,070
)
(Deduct)/add back: (Gains)/losses recognized on investments
(2
)
(15
)
452
(99
)
970
Add back: Losses related to convertible notes transactions
—
6,623
62,302
833
13,011
Deduct: Foreign currency remeasurement gains on British pounds held to complete the Atlantic House acquisition, net of income taxes
—
(4,370
)
—
—
—
Add back: Acquisition-related costs
—
1,118
1,933
317
2,409
Adjusted income before income taxes
$
65,679
$
63,354
$
54,654
$
53,840
$
45,318
Three Months Ended
Adjusted Income Tax Expense and Adjusted Effective Income Tax Rate:
Sept. 30,
2026
June 30,
2026
Mar. 31,
2026
Dec. 31,
2025
Sept. 30,
2025
Adjusted income before income taxes (above)
$
65,679
$
63,354
$
54,654
$
53,840
$
45,318
Income tax expense
$
15,261
$
14,263
$
8,549
$
10,437
$
9,816
Add back: Tax benefit of intangible asset amortization arising from the Ceres and Atlantic House acquisitions
795
643
348
348
—
Add back/(deduct): decrease/(increase) in deferred tax asset valuation allowance on capital losses
636
1,615
(151
)
1,237
24
(Deduct)/add back: Tax (expense)/benefit arising from (decrease)/increase in fair value of contingent consideration
(503
)
330
622
172
—
Add back: Tax benefit on imputed interest
60
59
57
92
117
(Deduct)/add back: Tax (expense)/benefit on foreign currency remeasurement losses/(gains) on U.S. dollar balances
(34
)
32
(131
)
(64
)
—
(Deduct)/add back: Tax (expense)/benefit arising from (gains)/losses on financial instruments owned
(16
)
(688
)
214
2
(260
)
Deduct: Tax expense on foreign currency remeasurement gains on British pounds held to complete the Atlantic House acquisition
—
(1,093
)
—
—
—
Add back: Tax windfalls upon vesting of stock-based compensation awards
—
66
4,421
—
76
Add back: Tax benefit arising from convertible notes transactions
—
51
22
328
248
(Deduct)/add back: Tax (expense)/benefit on (gains)/losses on investments
—
(4
)
110
(24
)
236
Add back: Tax benefit on acquisition-related costs
This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue” or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, the risks described below. If one or more of these or other risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. You should read this press release completely and with the understanding that our actual future results may be materially different from any future results expressed or implied by these forward-looking statements.
In particular, forward-looking statements in this press release may include statements about:
anticipated trends, conditions and investor sentiment in the global markets and ETPs; anticipated levels of inflows into and outflows out of our ETPs; our ability to deliver favorable rates of return to investors; competition in our business; whether we will experience future growth; our ability to develop new products and services and their potential for success; our ability to maintain current vendors or find new vendors to provide services to us at favorable costs; our ability to successfully implement our WisdomTree Onchain™ strategy relating to digital assets and blockchain-enabled financial services and achieve its objectives; our ability to successfully operate and expand our business in non-U.S. markets; the effect of laws and regulations that apply to our business; the potential benefits arising from the Ceres and Atlantic House acquisitions, including financial or strategic outcomes; and our ability to successfully implement our strategic goals relating to the acquisitions and integrate the acquired businesses. Our business is subject to many risks and uncertainties, including without limitation:
declining prices of securities, gold and other precious metals and other commodities and changes in interest rates and general market conditions can adversely affect our business by reducing the market value of the assets we manage or causing WisdomTree ETP investors to sell their fund shares and trigger redemptions; fluctuations in the amount and mix of our AUM, whether caused by disruptions in the financial markets or otherwise, including but not limited to events such as a pandemic or war, geopolitical conflicts, political events, acts of terrorism and other matters beyond our control, may negatively impact revenues and operating margins, and may impede our ability to refinance our debt upon maturity or increase the cost of borrowing upon a refinancing; competitive pressures could reduce revenues and profit margins; we derive a substantial portion of our revenues from a limited number of products, and, as a result, our operating results are particularly exposed to investor sentiment toward investing in the products’ strategies and our ability to maintain the AUM of these products, as well as the performance of these products and market-specific and political and economic risk; a significant portion of our AUM is held in products with exposure to U.S. and international developed markets, and we therefore have exposure to domestic and foreign market conditions and are subject to currency exchange rate risks; withdrawals or broad changes in investments in our ETPs by investors with significant positions may negatively impact revenues and operating margins; we face increased operational, regulatory, financial and other risks as a result of conducting our business internationally, and as we expand our digital assets product offerings and services beyond our existing ETP business; many of our ETPs have a limited track record, and poor investment performance could cause our revenues to decline; and we depend on third parties to provide many critical services to operate our business and our ETPs. The failure of key vendors to adequately provide such services could materially affect our operating business and harm WisdomTree ETP investors. Additional risks include those associated with the Ceres and Atlantic House acquisitions, including the risk that the integrations may be more difficult, time-consuming or costly than expected, or that expected benefits (including projected business growth, realization of synergies, or the ability to raise additional capital into the funds of the acquired businesses) may not be realized as anticipated. Other factors, such as general economic conditions, including currency exchange rate fluctuations, also may have an effect on the results of our operations. For a more complete description of the risks noted above and other risks that could cause our actual results to differ from our current expectations, see “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025.
The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. Therefore, these forward-looking statements do not represent our views as of any date other than the date of this press release.
GUANGZHOU, China, Oct. 30, 2026 (GLOBE NEWSWIRE) -- EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Advanced Air Mobility (“AAM”) technology platform company, today announced the establishment of an overseas regional hub in Thailand. The hub is intended to support international electric vertical take-off and landing (“eVTOL”) aircraft deployment, regional resource coordination and project implementation across Southeast Asia and other emerging markets.
By positioning aircraft and related resources closer to regional projects, the Thailand regional hub is expected to reduce transportation and coordination time, enable more flexible cross-market allocation, and help overseas projects move more efficiently from preparation to implementation.
In the near term, EHang plans to deploy an initial fleet of 25 units of EH216-S pilotless passenger-carrying eVTOL aircraft in Thailand. The regional fleet will support market-specific flight validation, operational preparation and project implementation across Southeast Asia and other emerging markets.
The hub is intended to support EHang’s broader product portfolio across passenger mobility, aerial logistics, emergency response and aerial media. The Company has already deployed approximately 1,200 units of GD4.0 formation drones in Thailand for its drone light show business, providing an established operational base for its aerial media activities in the market, with plans to expand the fleet to over 10,000 units.
Thailand serves not only as a local market for EHang’s AAM sandbox initiatives, but also as a strategic gateway for the Company’s overseas expansion across Southeast Asia and other emerging markets. EHang’s ongoing flight validation, regulatory engagement and established drone light show business in Thailand provide a practical foundation for the regional hub. Supported by Thailand’s regional connectivity, the hub is expected to strengthen EHang’s ability to serve projects in neighboring markets with greater speed, flexibility and coordination.
Building on this regional platform, EHang is advancing its Global Fast Track Program and AAM sandbox initiatives, establishing presence in Thailand, Sri Lanka, Vietnam and Malaysia while continuously exploring opportunities in other regional markets. The Thailand regional hub is intended to support these projects in a more responsive and coordinated manner by allocating aircraft and related resources according to local needs and project readiness.
Looking ahead, based on current plans, the Company expects the following near-term developments in key overseas projects:
In Sri Lanka, which joined EHang’s Global Fast Track Program in August 2026, sandbox launch and validation flights at Port City Colombo are expected to begin in November 2026, with commercial operations under the applicable local sandbox regulatory framework targeted to start by year-end.In Vietnam, which joined EHang’s Global Fast Track Program in September 2026, the Company is expected to conduct validation flights within the Hanoi sandbox area in November 2026.In Malaysia, EHang is preparing an initial EH216-S flight demonstration in Putrajaya in November 2026, following the sandbox cooperation on AAM announced with the Civil Aviation Authority of Malaysia (“CAAM”) in October.In Thailand, EHang plans to demonstrate EH216-S flights during the International Civil Aviation Organization (“ICAO”) AAM Symposium in Bangkok in December 2026. These anticipated developments, including aircraft deployment, flight validation, demonstrations and potential commercial operations, remain subject to applicable local laws and regulations, as well as completion of required operational preparations, safety assessments and relevant regulatory approvals.
About EHang
EHang (Nasdaq: EH) is a global-leading Advanced Air Mobility technology platform company dedicated to making safe, autonomous and eco-friendly air mobility accessible to everyone. EHang focuses on the research, development and manufacturing of a diversified portfolio of pilotless electric vertical take-off and landing (eVTOL) aerial vehicles, covering a wide range of application scenarios including aerial tourism, intra-city commuting, inter-city travel, logistics transportation and emergency firefighting. EHang’s flagship product, the EH216-S, has obtained the world’s first type certificate (TC), production certificate (PC) and standard airworthiness certificate (AC) for pilotless passenger-carrying eVTOL aircraft issued by the Civil Aviation Administration of China (CAAC), and has entered operation under China’s first batch of commercial operation qualifications for pilotless passenger-carrying eVTOL. In addition, the Company’s long-range VT35 model further extends inter-city mobility scenarios, laying the foundation for a multi-tiered low-altitude mobility network. Leveraging its advanced autonomous flight technology and scalable operational infrastructure, EHang is redefining the transportation of people and goods — transcending cities, regions and natural barriers to usher in a new era of air mobility. For more information, please visit www.ehang.com.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “may” and other similar expressions. Statements that are not historical facts, including statements regarding management’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Many factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to product certification, the Company’s expectations regarding demand for and market acceptance of its products, the commercialization of the Company’s unmanned aerial vehicle products and solutions and Advanced Air Mobility services, its relationships with strategic partners, its international deployment plans, regulatory sandbox initiatives, aircraft deployment, local operational approvals, the timing of flight validation and commercial operations in overseas markets, and the litigation currently involving the Company and potential litigation. The Company’s management has made such forward-looking statements based on current expectations, assumptions, estimates and projections. While the Company’s management believes that these expectations, assumptions, estimates and projections are reasonable, forward-looking statements are only predictions of future events and involve known and unknown risks and uncertainties that are difficult for the Company’s management to control. These risks and uncertainties may cause EHang’s actual results of operations, performance or achievements to differ materially from those expressed or implied by any forward-looking statements.
Look To REITs For Reliable Yield Even In Recessionary EnvironmentEPR Properties NYSE: EPR reported higher third-quarter revenue and funds from operations as the experiential real estate investment trust expanded into live entertainment venues and added fitness and wellness properties to its portfolio.
Revenue rose 12% year over year to $204.1 million, while FFO as adjusted increased 8.8% to $1.49 per share. AFFO increased 10.8% to $1.54 per share, though the company revised its AFFO definition during the quarter to exclude maintenance capital expenditures, aligning its presentation with many other triple-net REITs. Prior periods were recast to reflect the change.
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For the first nine months of 2026, FFO as adjusted totaled $4.16 per share, up 9.2% from the prior-year period, while AFFO rose 9.8% to $4.26 per share.
Investment Activity Expands Into Live Venues EPR invested $172.4 million during the quarter at an average initial cash yield of approximately 8.3%, bringing year-to-date investment volume to $664.5 million. The investments included the company’s first live-performance venue transaction, a build-to-suit development in Portland, Oregon, with Live Nation, as well as its first acquisition of a property leased to Life Time Fitness and Wellness in Irvine, California.
Ben Fox, EPR’s executive vice president and chief investment officer, said the company also invested in an Onelife Fitness location at Tysons Galleria in Virginia. He described both the Irvine Life Time property and the Tysons Galleria location as “exceptional A+ real estate.”
The company expects to invest another $21 million this year in experiential development and redevelopment projects already underway. EPR raised its full-year investment-spending guidance to between $675 million and $725 million, from a prior range of $600 million to $700 million.
Management said its pipeline spans acquisitions and development opportunities across fitness and wellness, eat-and-play concepts, attractions and live entertainment. Fox said the company remains disciplined on investment spreads and would not “sacrifice spread for volume.”
Regarding live entertainment, management pointed to demand for midsize venues, particularly those with roughly 4,000 seats. Fox said those venues can attract headline performers while addressing what he described as an underserved segment between large amphitheaters and smaller local facilities. The Portland Live Nation venue is expected to open next summer, according to management.
Portfolio Diversification and Theater Performance At the end of the third quarter, EPR’s portfolio had $7.6 billion of gross investment value across 350 properties and was 99% leased or operated. Core experiential categories accounted for 96% of annualized base rent and included 296 properties operated by 61 clients. The company’s education portfolio comprised the remaining 4% of annualized base rent and was 100% leased.
Theater exposure continued to decline as the company increased investment in other experiential categories. Theaters now represent roughly one-third of EPR’s portfolio, with management maintaining a long-term objective of approximately 20% exposure.
Unit-level rent coverage increased to 2.1 times during the quarter. Greg Silvers, EPR’s chairman and chief executive officer, said theater performance was a contributor to the improvement, as domestic box office revenue was up about 20% year to date through September and was on track for its best year since 2019.
Fox said EPR’s theater portfolio is positioned toward premium offerings, with 71% of its theaters featuring recliner seating, 84% offering enhanced food and beverage and 69% providing premium large-format screens. He said the company’s theaters generate roughly 8% of North American box office gross despite accounting for 3% of screenings.
Management also cited resilient performance in eat-and-play assets, attractions, and fitness and wellness properties. Topgolf’s performance remained healthy, while attractions benefited from geographic diversification that helped offset localized summer weather events. The education portfolio continued to face pressure from higher labor costs, grant funding issues and regulatory challenges, according to management.
Capital Recycling and Balance Sheet During the quarter, EPR sold the British School of Chicago to a public net-lease peer at a cap rate in the low-7% range. The company reported $74 million in disposition proceeds during the quarter, including $68.2 million in net proceeds from the private-school sale and a recognized gain of $30.5 million.
EPR revised its 2026 disposition guidance to approximately $86 million and said it does not anticipate further dispositions before year-end.
The company ended the quarter with $3.3 billion of consolidated debt, including $2.8 billion of fixed-rate debt with an average blended coupon of about 4.4%. It repaid $179.6 million of senior unsecured notes at maturity during the quarter.
EPR also highlighted its amended and restated $1.6 billion credit agreement, which includes a $1 billion revolving credit facility and a $600 million delayed-draw term loan that was fully drawn at quarter-end. The term loan matures in 2032 and carries interest at SOFR plus 115 basis points based on the company’s current credit ratings.
Through its at-the-market equity program, EPR entered into two forward sale agreements for initial gross proceeds of $66.6 million at an average price of $60.79 per share. At quarter-end, unsettled forward sale agreements represented estimated net proceeds of $134.6 million, or just under 2.3 million shares. The company had $52.4 million in cash and no borrowings under its $1 billion revolving credit facility.
Guidance Raised EPR increased its 2026 FFO as adjusted guidance to a range of $5.49 to $5.57 per share, compared with a previous range of $5.41 to $5.57. The midpoint represents 8% growth over 2025, according to the company.
The company also increased its projected percentage rent and participating interest income to $21.5 million to $24.5 million, from $18.5 million to $22.5 million. Mark Peterson, EPR’s executive vice president and chief financial officer, said the increase was primarily driven by stronger theater results, including Regal percentage rent, and improved attraction performance, particularly at Canadian properties.
Peterson said EPR expects box office to be higher in 2027 than in 2026 and, as a result, expects Regal percentage rents to increase next year.
About EPR Properties (NYSE:EPR)EPR Properties NYSE: EPR is a specialty real estate investment trust that owns and leases experiential real estate. The company focuses on properties designed for entertainment, recreation and leisure activities, including movie theaters, ski resorts, waterparks, attractions, fitness and wellness facilities, and other destination-based venues.
EPR generally leases its properties to operators under long-term, often triple-net lease agreements, under which tenants are typically responsible for property-level operating expenses, maintenance, taxes and insurance.
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3 transportation stocks gearing up for a new rallyGATX NYSE: GATX reported third-quarter 2026 diluted earnings per share of $2.92, up from $2.25 a year earlier, as favorable rail leasing conditions, strong secondary-market activity and engine leasing performance supported results.
For the first nine months of 2026, diluted EPS totaled $8.11, compared with $6.46 in the prior-year period. The company said its 2025 third-quarter and year-to-date figures included a net positive $0.15-per-share impact from tax adjustments and other items.
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Management now expects full-year 2026 earnings to modestly exceed the upper end of its previous guidance range of $9.90 to $10.30 per diluted share, excluding tax adjustments and other items. Chief Financial Officer Tom Ellman said the updated outlook reflects a stronger-than-expected secondary market for railcars and higher management fees from the Brookfield-owned long-term lease portfolio acquired as part of the Wells Fargo Rail transaction.
Rail North America Maintains Strong Leasing Fundamentals
Rail North America continued to benefit from favorable supply-demand conditions and strong interest in existing railcar assets. The segment posted an 86.1% lease renewal success rate, while fleet utilization rose to 98.4% at quarter-end.
GATX’s lease price index, which measures renewal rate changes on a trailing 12-month basis, increased 12.4% during the quarter. The average renewal term was 52 months. Paul Titterton, executive vice president and president of Rail North America, said the reported index was affected by the continuing integration of the former Wells Fargo fleet, known as GABX, fleet mix and the impact of sand cars. Despite those factors, he said sequential pricing across most of the fleet was flat to modestly higher.
Chief Executive Officer Bob Lyons said the near-term earnings effect of the difference between a 12% and 17% lease price index would be limited, estimating the annual revenue difference at less than $5 million against a revenue base of about $2.4 billion. He said lease-rate changes can accumulate over time but are not especially material in a single year.
The company has placed about 10,300 railcars under its 2022 Trinity supply agreement, with the earliest remaining scheduled delivery availability in the second quarter of 2027.
GATX also reported $50.3 million of net gains on asset dispositions in Rail North America during the quarter and $167.8 million year to date. Ellman said the company expects to slightly exceed its prior $200 million full-year target for asset dispositions, though the timing of closings remains difficult to predict.
Wells Fargo Rail Integration Adds Management Fees and Efficiency Opportunities
GATX said its integration of the Wells Fargo Rail assets has progressed well, with the company applying its scale, customer relationships and portfolio-management capabilities across the larger fleet.
Ellman said GATX earns management fees from two separate Brookfield-related portfolios: a wholly owned long-term lease portfolio and an operating lease joint venture in which GATX currently holds a 33.5% interest. Management fees from the long-term portfolio increased from roughly $2.8 million in each of the first two quarters to nearly $15 million in the third quarter, driven in part by fees tied to asset sales.
While Brookfield ultimately determines which assets to sell, GATX receives fees for making recommendations and executing those sales, Ellman said. The company indicated that the contribution from the Wells Fargo Rail investment and related activity should be about double the $0.20 to $0.30 per-share contribution initially expected for the year. The combined activity had contributed approximately $0.50 per share through the first nine months, according to management.
On maintenance, GATX said it has begun to realize benefits from its ability to manage and challenge third-party maintenance providers. However, it has not yet shifted joint-venture maintenance work into its own shops because those facilities remain occupied with GATX’s existing fleet. Lyons said the company expects to begin moving a modest amount of joint-venture work into its maintenance network in 2027, with a larger effort expected after that.
Gross maintenance expense was tracking near the company’s original full-year expectation of about $500 million, management said.
Secondary Market Demand Remains Broad
Lyons said buyer interest in the railcar secondary market remained broad and robust, with other lessors representing the primary buyer group and shippers occasionally purchasing cars. He said a limited number of new railcar orders has supported demand for existing equipment, as lessors seeking to expand fleets have increasingly looked to the secondary market.
Management said it does not see this demand abating in the near future absent a broader macroeconomic change.
On tariffs, Titterton said tank cars are currently the only new railcars technically subject to tariffs, while freight cars—which comprise most of the new-car market—are not currently subject to tariffs. He said the situation remains fluid because certain Section 232 tariffs have been imposed but not enforced, while antidumping tariffs on tank cars remain under discussion.
If tariffs increase new tank-car acquisition costs, Titterton said GATX’s large existing tank-car fleet could benefit because higher replacement costs may support the value and lease rates of installed assets.
International Rail, Engine Leasing and Capital Deployment
Rail International delivered solid performance. GATX Rail Europe’s utilization improved to 96.1% at quarter-end, and the company continued increasing renewal lease rates for multiple car types. In India, GATX expanded its fleet while maintaining full utilization.
Ellman said Rail International’s year-over-year comparison benefited from fleet growth, including the DB Cargo acquisition completed last year, as well as foreign-exchange effects. He said the European business continues to operate in a challenging economic environment, though the team has navigated conditions effectively.
Engine leasing generated what management described as excellent results, supported by healthy global air travel, high utilization and attractive lease rates. At the RRPF joint venture with Rolls-Royce, year-to-date investment volume approached $1 billion. Ellman said engine leasing earnings are expected to outperform the company’s beginning-of-year guidance, primarily due to the wholly owned GATX engine portfolio and a strong maintenance-reserve realization in the second quarter.
For RRPF, approximately two-thirds of both quarterly and year-to-date results came from operating income, with about one-third from remarketing income, management said. Asset sale gains can create period-to-period variability.
GATX repurchased about 442,000 shares for $78.5 million during the third quarter. Year to date, the company repurchased more than 732,000 shares for approximately $130 million.
Ellman said GATX’s capital allocation priorities remain investing in economically accretive opportunities, preserving leverage and investment-grade credit metrics, and returning excess capital to shareholders through dividends and, at times, share repurchases. He said investment activity is expected to total about $1 billion in 2026, below the level of the past several years but still representing a strong investment year outside of the Wells Fargo Rail acquisition.
Regarding interest rates, Ellman said less than 10% of GATX’s debt is floating-rate and that the company primarily finances itself with long-term, mostly fixed-rate debt. He said supply-demand conditions are the main short-term driver of railcar lease rates, while higher interest rates can support lease rates over the longer term.
About GATX (NYSE:GATX)GATX Corporation is a global asset-leasing company focused primarily on rail transportation. Through its rail businesses, the company owns, leases and manages a diverse fleet of freight railcars used to transport commodities and manufactured goods, including tank cars, covered and open hoppers, boxcars and specialized rail equipment. GATX also provides fleet management, maintenance and other services that support railcar customers.
GATX serves customers across North America and Europe through operations that include GATX Rail North America and GATX Rail Europe.
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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New York, New York--(Newsfile Corp. - October 30, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against The Ensign Group, Inc. ("Ensign" or the "Company") (NASDAQ: ENSG) on behalf of investors that purchased or otherwise acquired Ensign securities between February 10, 2022 and June 18, 2026 (the "Class Period").
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If you are an investor in Ensign and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than December 7, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
A complaint has been filed against Ensign and certain executives alleging that Ensign's business model depends on the systematic and widespread neglect of elderly people who live in its facilities, including those with needs for high levels of care, that Ensign uses self-reporting measures as a way to cover up its systematic neglect of patients, defrauds Medicaid and Medicare, and has engaged in an illegal scheme, including the falsification of records.
According to the complaint, the truth began to emerge on June 8, 2026, when Hunterbrook Media published a report entitled "Ensign: The Nursing Home Empire Built On Fatal Neglect." The report alleges that "Ensign's business model relies on delivering inadequate care to patients while gaming data on quality, according to Hunterbrook's five-month investigation." The report further alleges "[f]ormer employees in different states described systematic misrepresentations."
Following this news, the price of Ensign stock fell $13.88 per share, or 8.15%, to close at $156.42 per share on June 8, 2026.
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WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.
If you have any questions about this Notice, your rights, or your interests, please contact:
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
NEW YORK, Oct. 30, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against The Ensign Group, Inc. (NASDAQ:ENSG) and certain of the company’s senior executives for securities fraud after significant stock drops resulting from potential violations of the federal securities laws.
If you invested in Ensign, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/ensign-class-action-lawsuit.
Key Details of the Ensign ($ENSG) Class Action:
Lead Plaintiff Deadline: December 7, 2026Alleged Misconduct: Securities fraud alleging Ensign misrepresented that its business model relied on patient neglect, understaffing, manipulated quality and staffing data, improper billing, and an administrator-license rental scheme.Largest Alleged Stock Drop: June 8, 2026 – 8.15%Court: U.S. District Court for the Central District of CaliforniaAction: Contact BFA Law to discuss your rights Investors have until December 7, 2026 to ask the Court to be appointed to lead the case. The complaint asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Ensign securities. The class action is pending in the U.S. District Court for the Central District of California. It is captioned Perusek v. The Ensign Group, Inc., et al., No. 8:26-cv-02963.
Why is Ensign Being Sued for Securities Fraud?
Ensign is a healthcare services company that operates skilled nursing, senior living, and rehabilitative care facilities through affiliated providers. The company relies heavily on Medicare and Medicaid reimbursements, making patient care, staffing, billing, and regulatory compliance central to its business model.
According to the complaint, Ensign represented that quality patient care was central to its business, described its clinical outcomes and CMS ratings, and characterized regulatory and compliance risks as contingencies.
As alleged, Defendants concealed systematic understaffing and patient neglect, manipulated reported quality and staffing data, engaged in improper Medicare and Medicaid billing and upcoding, and used licensed administrators who did not actually manage certain facilities.
Why did Ensign’s Stock Drop?
On June 8, 2026, Hunterbrook Media published “Ensign: The Nursing Home Empire Built on Fatal Neglect,” based on a five-month investigation. The report alleged that Ensign acquired distressed nursing facilities, reduced registered-nurse and other skilled-care hours, used self-reported data to improve quality ratings, and generated profits by providing less care than residents required despite receiving public funds based on patient acuity.
On this news, the price of Ensign stock fell $13.88 per share, or 8.15%, from a closing price of $170.30 per share on June 5, 2026, to $156.42 per share on June 8, 2026.
On June 11, 2026, Muddy Waters Research published “Ensign: Deceiving the Government at Estimated ~20% of Facilities.” The report alleged that Ensign used licensed administrators who were seldom present and did not actually manage certain facilities, while unlicensed operators handled day-to-day operations. Muddy Waters estimated that the alleged practices existed at approximately 20% of Ensign’s skilled nursing facilities and could expose Ensign to significant sanctions, slower growth, and reduced margins.
On this news, the price of Ensign stock fell $4.52 per share, or 2.98%, from a closing price of $151.65 per share on June 10, 2026, to $147.13 per share on June 11, 2026.
On June 18, 2026, Hunterbrook published a follow-up report, “New: Patients Hungry in Ensign Facilities,” alleging additional firsthand evidence of resident hunger, inadequate food and supplies, payroll and staffing-data falsification, understaffing, and employees working above their license levels.
On this news, the price of Ensign stock fell $2.19 per share, or 1.4%, to close at $153.65 per share on June 18, 2026.
Click here for more information: https://www.bfalaw.com/cases/ensign-class-action-lawsuit.
What Can You Do?
If you invested in Ensign, you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360, and “SuperLawyers” by Thomson Reuters.
Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm, with clients noting: “[t]here is no better service provider in the practice area,” “[t]he interest of the client is always front and center,” and “[t]here isn’t a better firm in this space.” One testimonial described the firm as “nimble and entrepreneurial,” with a “relentless focus on adding value for clients.”
BFA’s notable successes include a recovery of over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
New York, New York--(Newsfile Corp. - October 30, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against AppLovin Corporation ("AppLovin" or the "Company") (NASDAQ: APP) on behalf of investors that purchased or otherwise acquired AppLovin securities between February 12, 2026 and August 5, 2026 (the "Class Period").
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If you are an investor in AppLovin and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than November 16, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that "(i) the generative AI video creative feature for the Company's AppLovin Ads platform was subject to significant development delays, making its release on the Company's timeline unlikely," and "(ii) Defendants overstated the constancy with which AppLovin was improving its AI models."
According to the complaint, the truth began to emerge on July 13, 2026, when a Bank of America Securities analyst published a note raising concerns over the rollout of AppLovin Ads to all advertisers. Following publication of the note, AppLovin's stock price fell $64.13 per share, or 12.65%, on July 13, 2026. Then, on August 5, 2026, according to the complaint, AppLovin reported revenue below consensus estimates and also revealed that its generative AI video tool was "still [a] work in progress." On this news, AppLovin's stock price fell $82.13 per share, or 19.66%, on August 6, 2026.
CLICK HERE TO LEARN MORE
WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.
If you have any questions about this Notice, your rights, or your interests, please contact:
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
3 Retail Stocks Getting Crushed and the Long-Dated Options Trade on Each OneEdison International NYSE: EIX reaffirmed its 2026 earnings outlook while warning that delayed California wildfire-liability reform could raise customer costs, constrain future grid investment and increase financing pressure.
During the company’s third-quarter 2026 financial teleconference, President and Chief Executive Officer Pedro Pizarro said Edison reported third-quarter core earnings per share of $1.92 and year-to-date core EPS of $4.89. The company maintained its 2026 core EPS guidance range of $5.90 to $6.20.
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Why Wall Street Is Betting on These 3 Comeback StocksExecutive Vice President and Chief Financial Officer Aaron Moss said the company’s quarterly core EPS was below $2.34 in the prior-year period, which included a 55-cent true-up associated with Southern California Edison’s general rate case final decision. Excluding that item, Moss said core operations remained stable. Edison also reaffirmed its 2027 and 2028 core EPS guidance ranges and its long-term EPS growth target of 5% to 7% through 2030.
Wildfire reform remains central focus
Pizarro said California’s legislative session ended without a durable, long-term wildfire-liability solution, an outcome he said disappointed Edison and capital providers. Edison and other California investor-owned utilities are engaging policymakers and stakeholders in support of a special legislative session.
NRG Fastest Mover in S&P As Activist Investor Pushes For ChangeThe company is seeking a framework that includes a durable liquidity source for claims resolution and a shareholder liability cap that is not tied to the state’s Wildfire Fund. Pizarro said any bill from a special session would need to be sent to the governor by the constitutional deadline of Nov. 15, ahead of the end of the current legislative term.
“Delay into 2027 will have significant and costly consequences,” Pizarro said, adding that Edison remains confident policymakers will ultimately act.
Moss estimated that elevated credit spreads could add approximately $300 million in costs to customers over the life of bonds Southern California Edison expects to issue in 2027 alone. He said those costs could remain embedded for years because the company finances long-lived infrastructure investments.
Pizarro said that if Edison’s credit rating were to fall below investment grade, financing costs would rise further. Southern California Edison is expected to file its 2029 general rate case in about six months, and higher financing costs could affect its requested investment levels. The utility would prioritize safety, reliability and compliance work, potentially leaving less capital for electrification, clean-energy transition projects, load growth and economic-development-related investments.
Capital plan and financing outlook
Southern California Edison’s five-year capital plan calls for approximately $38 billion to $41 billion in capital expenditures from 2026 through 2030. The plan is intended to support roughly 7% rate-base growth from 2025 through 2030, which management identified as the primary driver of long-term earnings growth.
Moss said the company has no long-term variable-rate debt and expects approximately $2 billion to $4 billion of long-term debt to mature annually from 2027 through 2030. Edison has no common equity issuance forecast through 2030 and continues to target a funds-from-operations-to-debt ratio of 15% to 17%.
The company also maintained its dividend policy targeting a payout ratio of 45% to 55% of Southern California Edison core earnings, subject to board approval. Moss said the policy has supported 22 consecutive years of dividend growth.
Grid hardening and wildfire mitigation
Pizarro said Southern California Edison has hardened approximately 90% of its distribution system in high-fire-risk areas and has installed more than 7,200 miles of covered conductor. The utility is using targeted infrastructure investment, inspections, remediation, vegetation management, weather data, high-definition cameras and advanced modeling to reduce wildfire risk.
The company said its approved 2025 general rate case investments, including covered conductor, targeted undergrounding and asset replacement, are intended to improve safety and resilience. Pizarro said current conditions for the balance of 2026 appear consistent with a normal year, with potential for El Niño to contribute to earlier rainfall, though the utility retains flexibility to increase inspections and remediation if conditions change.
The Office of Energy Infrastructure Safety, in approving Southern California Edison’s 2026-2028 Wildfire Mitigation Plan, described the utility’s transmission high-fire-risk-area inspection program as the most comprehensive among the large investor-owned utilities, according to Pizarro. The company conducts annual detailed ground and aerial inspections on about 77% of its transmission assets in high-fire-risk areas, with frequency tailored to location-specific risk.
Eaton Fire claims and legal process
Pizarro said the Los Angeles County Fire Department’s redacted investigative reports concluded that Southern California Edison equipment caused the Eaton Fire ignition. He said the determination of ignition differs from separate processes involving legal liability, utility prudence and potential reimbursement from the Wildfire Fund.
Southern California Edison continues to believe it can make a good-faith showing that its conduct was consistent with that of a reasonable utility, Pizarro said. He also said the company sees no basis for felony liability or for a finding of conscious or willful disregard of others’ rights and safety.
The company’s Wildfire Recovery Compensation Program has extended more than 3,200 offers totaling approximately $1.1 billion. Pizarro said October had already become the largest month for claims submissions during the year, with the program’s application deadline set for Nov. 30.
Management said it was too early to estimate a reserve related to Eaton Fire claims, citing the number of unresolved claims, potential personal-injury claims ahead of a January 2027 statute-of-limitations deadline, property-damage claims that may be filed through January 2028, and potential insurance subrogation and government claims.
About Edison International (NYSE:EIX)Edison International NYSE: EIX is an electric power holding company based in California. Its principal subsidiary, Southern California Edison (SCE), is one of the largest electric utilities in the United States and delivers electricity across central, coastal and Southern California. SCE serves millions of residential, commercial and industrial customers through an extensive transmission and distribution network.
Edison International's operations are focused on the generation, transmission and distribution of electricity, as well as supporting the transition to cleaner energy.
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Výsledky Amazonu ukázaly, že boom kolem umělé inteligence dál výrazně zrychluje růst cloudové divize AWS, zároveň ale odhalily rostoucí cenu této expanze.
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30.10.2026
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A Quiet Outperformer With a Catastrophe CaveatEverest Group NYSE: EG reported third-quarter operating earnings of $7.62 per share, supported by attritional underwriting income, record investment income and accelerated share repurchases, while the insurer also strengthened casualty reserves and retained much of the favorable development in short-tail lines.
President and CEO Jim Williamson said the company generated a year-to-date annualized total shareholder return of 14.2% and continued to prioritize underwriting margins and balance-sheet strength over premium growth. Gross written premium across Everest’s core businesses totaled $3.7 billion, down about 4% year over year on a comparable basis, reflecting reduced exposure in casualty lines.
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REITs Set for a 2026 Rebound? 7 Top Picks as Rate Cuts Approach“Prioritizing bottom-line results over top-line production is imperative,” Williamson said, citing what he described as increasing signs of irresponsible behavior in some insurance and reinsurance markets.
Reserve strengthening increases conservatism
Everest reported $268 million of net unfavorable reserve development in the quarter, driven largely by casualty reinsurance reserve strengthening. The company added approximately $600 million to gross casualty reserves in its reinsurance treaty business during the period, following $200 million of strengthening in U.S. casualty during the second quarter.
3 High-Momentum Gold Stocks Surging on the Metals RallyChief Financial Officer Elias Habayeb said the majority of the third-quarter casualty strengthening related to underwriting years 2022 and earlier, though Everest also carried its updated assumptions into more recent underwriting years. About two-thirds of the $600 million increase was tied to North American casualty, with a concentration in traditional casualty quota-share business and some casualty excess-of-loss business, he said.
Management said its reserve position was more than $850 million above actuarial central estimates as of Sept. 30. Habayeb said Everest increased both its actuarial central estimate and the margin above that estimate, with the central estimate rising by a few hundred million dollars during the quarter.
The company said it did not give explicit reserve credit for underwriting actions unless they were evident in the data. It also did not adjust for indications of faster case reserving in casualty business, despite enhanced claims analytics showing evidence of that trend. Favorable development in short-tail lines was largely retained rather than released.
“Our philosophy is to book our loss picks conservatively and allow the lines to mature,” Habayeb said. He added that the company expects this approach to position it to release reserves as business matures, though he did not project near-term favorable development.
Reinsurance premiums decline as Everest pulls back in casualty
Reinsurance treaty gross written premium was $2.7 billion, down approximately 6% year over year on a comparable basis. Casualty premiums fell 18%, while property premium declined slightly as growth in property proportional business was offset by lower catastrophe and non-catastrophe excess-of-loss writings.
The reinsurance treaty combined ratio included 11.3 points of adverse prior-year development and 12.8 points of catastrophe losses. Pre-tax catastrophe losses in the segment totaled $277 million, net of estimated recoveries and reinstatement premiums, primarily tied to the Colombia earthquake, Middle East events and smaller European and Canadian losses.
Despite those items, the reinsurance treaty attritional loss ratio improved to 56.3% in the quarter. Williamson said the company continues to find opportunities in global specialty and financial-risk portfolios, where it sees attractive risk-adjusted returns.
Looking toward the Jan. 1, 2027 renewals, Williamson said Everest expects continued competition, particularly in catastrophe reinsurance and peak zones. He said current catastrophe rate levels still support strong expected returns, but Everest may become more selective as pricing compresses.
On casualty reinsurance, Williamson described the company’s view as “fairly bearish,” citing social inflation, legal system abuse in the U.S., increasing competition and persistently high ceding commissions. He said Everest does not plan to pursue growth in that portfolio until conditions improve materially.
Wholesale and specialty business posts margin improvement
Everest’s Global Wholesale & Specialty segment recorded gross written premium growth of more than 3% from a year earlier. International premium grew at a double-digit rate, led by financial lines, marine and other specialty classes, partly offset by aviation.
The segment’s attritional loss ratio improved by 90 basis points to 60%, which management attributed to risk selection, underwriting actions and business mix. Its combined ratio was 97.3%, including $25 million of pre-tax catastrophe losses related primarily to the Colombia earthquake and mid-sized Middle East losses.
Williamson said the company is targeting growth in markets and product categories where it has specialized capabilities, including construction-related risks associated with data centers and manufacturing, renewable energy, engineering and parametric products. He said the company’s focus remains on margin rather than top-line expansion.
Everest expects Global Wholesale & Specialty to produce combined ratios in the mid- to high-90s in the near term, Habayeb said.
Record investment income and increased shareholder returns
Net investment income reached a quarterly record of $634 million, including $144 million of income from the private-equity portfolio. Everest’s book yield increased to 4.6%, below its approximate 5.1% new-money yield, while the investment portfolio’s average credit quality remained AA-.
Book value per share excluding unrealized gains and losses on available-for-sale fixed maturities rose to $414, increasing both sequentially and from the prior year.
Everest repurchased approximately 1.3 million shares for $474 million during the quarter at an average price of $374 per share. Including dividends, the company returned about $550 million to shareholders in the quarter and more than $1.4 billion year to date. Since the beginning of 2025, its share count has declined approximately 13%.
Habayeb said Everest views $300 million of quarterly share repurchases as a floor and expects to exceed that amount when warranted by balance-sheet strength and earnings generation. The company’s payout ratio over the past four quarters was approximately 92%.
Management also said the transition of its commercial and retail insurance business to AIG remains on track. The legacy segment created a modest underwriting earnings drag in the third quarter, while the overall portfolio continues to run off with an average duration of roughly three to four years. Habayeb noted that a $30 million quarterly transition-services payment from AIG expired at the end of the third quarter.
About Everest Group (NYSE:EG)Everest Group, Ltd. is a global insurance and reinsurance company that provides property and casualty coverage to businesses, institutions, and other insurers. Its operations focus on assuming and managing risks through reinsurance, as well as offering insurance products in selected specialty and commercial markets.
The company's reinsurance business supports insurers across lines such as property, casualty, specialty, and other risks. Through its insurance platform, Everest provides coverage for commercial customers and specialty exposures, including property, casualty, professional liability, and other products that may vary by market.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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TL;DR: Gold and Silver kept falling Friday even as US Treasury yields and the Dollar both declined—a break from the usual macro playbook. With tech stocks pressured by AI-spending concerns and crypto unsettled by the Binance breach, position-cutting across volatile assets is a plausible explanation, though not yet a confirmed one. Gold’s 3,942.71 and Silver’s $50 level are the next tests.
Why This Matters
Gold and Silver continued falling on Friday despite lower US Treasury yields and a weaker Dollar. Gold briefly broke below 3,975 before recovering toward 4,000, while Silver dropped more than 2% to around 50.90 and Platinum lost approximately 3%.
The weakness came as technology stocks remained under pressure from concerns over AI investment spending, while cryptocurrencies were unsettled by the major security incident at Binance. That overlap raises an important question: are investors reducing positions across volatile assets rather than responding primarily to conventional interest-rate signals?
The price action is consistent with that interpretation, but does not yet establish it. What makes the current sell-off unusual is that precious metals are declining even as two of their traditional macro headwinds—Treasury yields and Dollar—are moving lower.
Falling Yields and Dollar Fail to Support Precious Metals
The US 10-year Treasury yield retreated toward 4.93%, while the 2-year yield traded around 4.59%. Dollar Index also weakened toward 101.67.
Under more conventional circumstances, falling yields and a softer Dollar would offer some support to non-yielding precious metals. Lower yields reduce the opportunity cost of holding Gold, while Dollar weakness makes dollar-denominated metals less expensive for buyers using other currencies.
Yet neither development has been sufficient to halt the selling.
Persistent US inflation and expectations for further Fed tightening remain potential headwinds. September’s headline PCE inflation accelerated to 3.6%, and markets continued to price a high probability of another rate increase in December.
But the decline in yields and Dollar suggests that the usual monetary-policy explanation does not fully account for the latest metals weakness. Other forces appear to be influencing short-term price behaviour.
The divergence is particularly striking in Silver and Platinum, which have suffered substantially larger percentage losses than Gold. That shows selling pressure is uneven across precious metals, although the available evidence does not establish whether positioning, liquidity or other market-specific factors are responsible.
Technology and Crypto Selling Point to Broader Positioning Pressure
One possible explanation lies in the simultaneous weakness across technology equities and cryptocurrencies.
Alphabet’s 12.64% plunge on Thursday intensified concerns about whether the enormous capital expenditure associated with AI infrastructure can generate sufficient financial returns. Disappointing developments at Amazon and Intel added to the pressure, while Asian semiconductor stocks suffered substantial losses on Friday.
Separately, Binance disclosed a major security incident with an estimated financial impact of approximately $6.3B, introducing another source of uncertainty into cryptocurrency markets. Bitcoin traded near $78,000 after extending its recent decline.
These are independent developments. The AI-related equity sell-off reflects concerns about investment returns and valuations, while the Binance incident raises questions about exchange security and confidence.
But the two shocks occurred within the same period, alongside weakness in precious metals.
That pattern is consistent with investors reducing exposure across several volatile markets, potentially selling assets that might otherwise attract defensive demand.
The Treasury rally adds another dimension. Investors appear willing to seek protection in government bonds, yet Gold and Silver have not benefited from comparable safe-haven demand.
This does not necessarily mean Gold has lost its defensive characteristics. Rather, short-term portfolio adjustments may be outweighing the factors that would ordinarily support it.
There are important limits to that interpretation.
The simultaneous decline across several asset classes does not prove that investors are facing margin calls or engaging in forced liquidation. Direct evidence from open interest, trading volumes, ETF flows or positioning reports would be needed to establish whether speculative holdings are being reduced.
Friday’s scheduled CFTC report may provide useful background, although it covers positions only through October 27 and will not capture the latest selling directly.
For now, position-cutting is a plausible explanation for the unusual cross-asset behaviour, rather than a confirmed cause of the metals decline.
ActionForex’s Technical View: Gold, Can 3,942 Support Hold?
Gold’s decline from 4,697.07 resumed with an intraday break below 3,975.49 on Friday. Although the metal subsequently recovered above that level, the near-term outlook remains bearish as long as 4,083.41 resistance holds.
The more important question is whether the selling has sufficient momentum to push Gold through 3,942.71 support.
A firm break below that low would confirm resumption of the larger downtrend from 5,598.75. That would bring the 100% projection of 4,890.96 to 3,942.71 from 4,697.07 at 3,748.81 into focus.
But the downside scenario is not yet confirmed.
Gold’s 4-hour MACD has previously shown bullish divergence, indicating that downward momentum has not strengthened consistently throughout the decline. That leaves room for another recovery attempt, particularly if selling pressure begins to ease around the previous low.
Such a recovery would not, by itself, reverse the bearish outlook. As long as 4,083.41 holds, the immediate downside risk remains.
The distinction is between breaking 3,975.49 intraday and generating enough follow-through to decisively clear 3,942.71. The latter would carry considerably greater technical significance.
ActionForex’s Technical View: Silver, $50 Is the Next Battleground
Silver’s decline has been more persistent, bringing the metal toward an important support area around the psychological $50 level.
That level sits close to the 61.8% projection of 89.36 to 54.77 from 71.16 at 49.77, creating a potential support zone between 49.77 and 50.00.
Some recovery could develop from this area. Daily RSI has fallen toward 26.7, while the 4-hour reading is near 22.9, indicating deeply oversold conditions across both timeframes.
However, oversold readings alone are not sufficient to establish a bottom.
Silver’s near-term outlook remains bearish while 54.63 resistance holds. Even if support around 50.00 produces a rebound, the broader decline would remain intact unless that resistance is overcome.
On the downside, a firm break of the 49.77–50.00 support zone would signal continuation of the downtrend.
The next objective would be the 100% projection of 67.54 to 55.37 from 58.60 at 46.43.
Silver is therefore approaching an area where some stabilization is possible, but failure to defend support would expose it to another substantial downward leg.
ActionForex’s Technical View: Gold/Silver Ratio Signals More Silver Underperformance
The Gold/Silver ratio provides another indication that selling pressure within precious metals is becoming increasingly uneven.
The ratio surged to around 78.48 on Friday, breaking above the 61.8% projection at 76.95 and extending its advance from September’s low near 64.65.
That breakout reinforces the view that Silver is underperforming Gold, rather than both metals simply weakening at the same pace.
Further upside is expected as long as 74.90 support holds, with the next objective at the 100% projection near 84.53.
There is some risk of a temporary pullback. Daily RSI has risen to approximately 77.7, indicating overbought conditions that could lead to consolidation.
Nevertheless, the near-term bullish structure of the ratio remains intact while 74.90 holds.
This is not a direct signal that Gold must continue falling. The ratio could rise even if both metals rebound, provided Gold recovers more strongly than Silver.
Instead, the breakout suggests that Silver’s relative weakness may persist, adding another dimension to the broader precious-metals sell-off.
Gold and Silver Approach Their Next Decision Levels
The immediate question is whether the decline in precious metals can continue without support from the conventional Dollar and Treasury-yield channels.
The simultaneous weakness in technology stocks and cryptocurrencies makes position-cutting a plausible explanation. But the available market evidence does not yet establish that investors are being forced to sell, or that the same mechanism is driving all three markets.
That makes the next technical tests particularly important.
For Gold, a firm break of 3,942.71 would confirm renewed downside momentum and open the way toward 3,748.81. For Silver, a sustained move below 49.77–50.00 would increase the risk of a deeper decline toward 46.43.
Meanwhile, the Gold/Silver ratio’s break above 76.95 suggests that Silver could remain the weaker metal even if both eventually stabilize.
The upcoming US trading session and subsequent positioning evidence may help clarify whether the unusual cross-asset selling reflects a temporary adjustment or a more persistent reduction in exposure.
For now, Gold and Silver remain under pressure, but the next support breaks—not the position-cutting hypothesis alone—will determine whether the sell-off develops into a deeper technical decline.
Key Takeaways
Gold and Silver fell even as the 10-year yield eased to 4.93% and Dollar Index slipped to 101.67—a break from the usual macro relationship that points to position-cutting rather than rate-driven selling.
Silver and Platinum have lost substantially more than Gold percentage-wise, and the Gold/Silver ratio’s breakout to 78.48 (above 76.95 resistance) suggests Silver’s relative underperformance could persist even if both metals stabilize.
The selling coincides with Alphabet’s 12.64% earnings-driven plunge and a $6.3B Binance security breach—two unrelated shocks that, taken together, are consistent with broad de-risking across volatile assets.
Gold’s key level is 3,942.71: an intraday break below 3,975.49 hasn’t yet been confirmed by a decisive close below 3,942.71, which would open 3,748.81.
Silver’s key level is the 49.77–50.00 zone: deeply oversold RSI readings (26.7 daily, 22.9 four-hour) leave room for a bounce, but a firm break exposes 46.43 next.
The US Dollar (USD) heads lower for the third consecutive day against the Canadian Dollar (CAD) on Friday, as risk aversion pushes US Treasury yields lower, while high Oil prices boost the commodity-sensitive Canadian Dollar. The USD/CAD pair is testing six-week lows at 1.3968, on track for a more than 2% decline in a three-week selloff.
Renewed concerns about an AI bubble, following disappointing results from Google Alphabet, have triggered a rush from equity markets to the safety of US Government Bonds during the US and Asian sessions. US Treasury yields have extended their reversal –the US 10-year yield has lost more than 30 basis points in October, which has increased bearish pressure on the Greenback.
The Loonie, on the other hand, remains buoyed by the high prices of Oil, Canada’s main export. The Brent Oil barrel remains above 112.00, set to close the month with a nearly 20% appreciation as the US and Iran remain far from a peace deal and attacks on vessels attempting to cross the Strait of Hormuz continue.
Technical Analysis: Below 1.3968, the next target is the 1.3900 area
USD/CAD trades around 1.3961, holding a negative trend, with the 4-hour Relative Strength Index (14) at 32.5, near oversold territory, and the Moving Average Convergence Divergence (MACD) marginally below zero, which shows that bears are fully in control.
A confirmation below the support area around 1.3968 (October 23 low) would bring the mid-September lows, around 1.3900, and the 78.6% Fibonacci retracement level, near 1.3875, into focus.
Bulls, on the contrary, should breach Thursday's high, around the 1.4000 psychological area and the October 21 and 23 highs in the 1.4070-1.4080 area to ease downside pressure.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Canadian Dollar Price Today The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the strongest against the US Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.16%-0.39%-0.27%-0.21%-0.02%-0.17%-0.38%EUR0.16%-0.23%-0.11%-0.04%0.16%-0.02%-0.22%GBP0.39%0.23%0.13%0.19%0.38%0.22%0.00%JPY0.27%0.11%-0.13%0.07%0.25%0.09%-0.11%CAD0.21%0.04%-0.19%-0.07%0.18%0.03%-0.18%AUD0.02%-0.16%-0.38%-0.25%-0.18%-0.16%-0.36%NZD0.17%0.02%-0.22%-0.09%-0.03%0.16%-0.20%CHF0.38%0.22%-0.01%0.11%0.18%0.36%0.20% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).
Wednesday’s nothingburger of an Autumn Budget was taken in its stride by both the pound and gilts.
This was a budget clearly designed not to rock the boat, and on that score it succeeded.
The partial rebuilding of fiscal headroom to £15bn should satisfy the bond vigilantes for now. However, at roughly 0.5% of GDP, the buffer is modest by historical standards and won’t fully dispel fears of further tax rises down the road. Tax and spending measures were small and targeted, with a higher tax burden on banks used to fund modest energy support for households.
We see nothing in the budget that will materially move the needle on growth or inflation.
If anything, the outlook has darkened, with the OBR slashing its 2027 growth forecast to 1.0% from 1.6%, largely a reflection of the energy crisis.
The good news for markets is that the UK is taking steps towards fiscal consolidation, and the government remains on course to narrow the budget deficit in the coming years, which would be a real fillip for sterling and gilts if delivered. The problem is that this deficit reduction is set to be driven by fiscal drag rather than spending cuts.
There was nothing in the budget to tackle the ever-growing public spending bill beyond a vague promise to address it at a later date. We see this as kicking the can down an ever-shortening road.
With only a thin fiscal buffer, welfare reform deferred and no clear answer on how higher defence spending will be paid for, we think that GBP could be exposed if growth disappoints or energy prices stay higher for longer. The Bank of England will be meeting on Thursday, but more on that from us early next week."
Pendle issued a statement noting the protocol has no risk exposure to Binance. Both Pendle V2 and Boros are fully on-chain, non-custodial, with secure funds, their products are operating normally, and the project wishes all affected parties in the industry every success.
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CZ stated in a post that preliminary estimates put losses from Binance’s recent attack at over $6 billion, with roughly $3 billion in assets already frozen. The exchange’s SAFU Fund is valued at around $1 billion, leaving a remaining funding gap of approximately $2 billion. CZ added that Binance’s holdings of SPCX stock alone are worth over $1 billion; while the remaining gap represents a significant loss, it remains within controllable limits. Earlier, crypto analyst 0xngmi estimated the loss at roughly $1 billion, based on Binance’s total custodial assets and frozen assets, accounting for just 0.69% of the exchange’s total custodial assets. In response, CZ noted the actual loss may be slightly higher than that estimate, but Binance will cover all losses.
1 seconds ago
CZ slams Elon Musk for "inappropriate, untimely teasing", noting that Binance’s stake in SPCX is valued at over $1 billion.
Elon Musk reacted with an "awkward" emoji in discussions related to the Binance security incident. CZ responded to this, stating that while he has great respect for Musk, now is not the time for jokes and asked Musk to stop. Additionally, CZ noted that Binance invested $500 million when Musk acquired Twitter, and the SPCX shares held from this investment are now worth over $1 billion, expressing hope that Musk will provide some support.
1 seconds ago
Neuralink uses mind control to activate Grok for work, as brain-computer interfaces begin integrating with AI agents.
Beating AI Express News: Elon Musk’s brain-computer interface (BCI) firm Neuralink has unveiled a new feature—users only need to mentally utter “Hey Neuralink” and describe their desired task, and the Grok Agent will autonomously operate a computer without manual input. Neuralink engineers recently visited the home of an amyotrophic lateral sclerosis (ALS) patient, spending 72 consecutive hours developing and testing the new feature. Beyond the Grok Agent prototype, the team also rolled out automatic speech intent recognition, brain signal input, and iPhone calling capabilities. The patient can generate speech via the BCI to make calls with his wife, and even place orders at a coffee shop. Two days ago, Neuralink released early results from its speech restoration trial: an ALS patient achieved 75 English words per minute with a 5.8% word error rate in the first week of use. Musk predicts that BCI information output speed will far outpace human speech or typing rates in the coming years.
Cognizant's new OpenAI Frontier Capability Group brings more than 25,000 professionals together in a global OpenAI delivery organizationCognizant is scaling OpenAI across its own sales and customer success operations first, so clients can benefit from approaches tested at enterprise level, /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced the formation of its OpenAI Frontier Capability Group, bringing together more than 25,000 professionals aligned to delivering OpenAI products, including Codex and ChatGPT, for clients. The group is designed to help enterprises apply OpenAI models to how they write software, serve customers and run day-to-day operations.
Access to frontier models is no longer what holds many enterprises back; what they lack is skilled professionals who know how to build with those models inside the systems their business depends on. Cognizant has been building that capability across the company, where more than 21,000 associates have earned 40,000+ OpenAI badges, each awarded for completion of learning tracks on OpenAI technologies. The new group adds an organization focused on building and supporting the operation of OpenAI-powered systems for clients.
That work is expected to draw on Cognizant's Frontier workforce model, through which it is developing Frontier Certified Engineers and Frontier Business Operators credentialed directly by frontier-model companies.
Cognizant often tests new approaches in its own business before taking them to clients. Its sales and customer success teams already use a solution built on OpenAI models to find and pursue new opportunities. For clients, that means the group's work can start from methods tested at scale inside a global enterprise.
"Over the last 50 years, every shift in enterprise technology has changed who builds the systems and how," said Ravi Kumar S, CEO of Cognizant. "With Codex and ChatGPT, OpenAI is changing both at once. We are committing more than 25,000 of our people to bring that change inside our clients' businesses. We started with our own, and OpenAI is beginning to reshape how we sell."
"OpenAI is helping businesses fundamentally rethink how they operate, from the way they serve customers to how they get work done," said Dali Rajic, Chief Revenue Officer at OpenAI. "By bringing together more than 25,000 professionals in a dedicated OpenAI practice and putting our technology to work across its own operations, Cognizant is helping more enterprises turn AI into meaningful business impact."
Initial focus areas
The group will initially focus on three areas: AI-native software engineering with Codex, application modernization and agentic customer operations. Codex anchors the first and is designed to support engineers as they write, test and ship new code. In application modernization, the group will use Cognizant Application Modernizer, powered by OpenAI models, across the full lifecycle, from reverse engineering legacy mainframe code to generating cloud-native code. Engineers review every consequential decision, backed by Cognizant's experience modernizing mainframe systems for more than 500 clients. In customer operations, the group will apply OpenAI models to sales, service and support, drawing on Cognizant's experience using them in its own business.
Cognizant is already delivering for clients: at a global biopharmaceutical company, Cognizant co-engineered an OpenAI-powered enterprise assistant that brings search, content creation, translation and approvals into one place. It has handled more than 5 million conversations and cut content creation time by 60%.
Cognizant is one of a select group of Advanced partners in the OpenAI Partner Network. Its Codex hackathons in India and the Americas brought together more than 12,000 participants.
About Cognizant
Cognizant (Nasdaq: CTSH) is an AI Builder and technology services provider, bridging the gap between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization's unique context into technology systems that amplify human potential, drive tangible outcomes and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.ai or @cognizant.
Kioxia projects operating profit of 2 trillion yen for the third quarter, below market expectations.
Kioxia projected its third-quarter operating profit to hit 2 trillion yen, falling short of the market consensus estimate of 2.35 trillion yen. The company also forecast an operating profit of 5.26 trillion yen and net profit of 3.56 trillion yen for the first nine months of the fiscal year. Additionally, Kioxia plans to pay an interim dividend of 90 yen per share. Financial results showed that its second-quarter operating profit stood at 1.99 trillion yen, exceeding the market expectation of 1.95 trillion yen, while its net profit of 1.36 trillion yen was slightly below the market forecast of 1.37 trillion yen.
6 minutes ago
CZ: The loss gap from Binance’s attack is approximately $2 billion, and holding over $1 billion worth of SPCX stock can cover it.
CZ stated in a post that preliminary estimates put losses from Binance’s recent attack at over $6 billion, with roughly $3 billion in assets already frozen. The exchange’s SAFU Fund is valued at around $1 billion, leaving a remaining funding gap of approximately $2 billion. CZ added that Binance’s holdings of SPCX stock alone are worth over $1 billion; while the remaining gap represents a significant loss, it remains within controllable limits. Earlier, crypto analyst 0xngmi estimated the loss at roughly $1 billion, based on Binance’s total custodial assets and frozen assets, accounting for just 0.69% of the exchange’s total custodial assets. In response, CZ noted the actual loss may be slightly higher than that estimate, but Binance will cover all losses.
6 minutes ago
CZ slams Elon Musk for "inappropriate, untimely teasing", noting that Binance’s stake in SPCX is valued at over $1 billion.
Elon Musk reacted with an "awkward" emoji in discussions related to the Binance security incident. CZ responded to this, stating that while he has great respect for Musk, now is not the time for jokes and asked Musk to stop. Additionally, CZ noted that Binance invested $500 million when Musk acquired Twitter, and the SPCX shares held from this investment are now worth over $1 billion, expressing hope that Musk will provide some support.
6 minutes ago
Neuralink uses mind control to activate Grok for work, as brain-computer interfaces begin integrating with AI agents.
Beating AI Express News: Elon Musk’s brain-computer interface (BCI) firm Neuralink has unveiled a new feature—users only need to mentally utter “Hey Neuralink” and describe their desired task, and the Grok Agent will autonomously operate a computer without manual input. Neuralink engineers recently visited the home of an amyotrophic lateral sclerosis (ALS) patient, spending 72 consecutive hours developing and testing the new feature. Beyond the Grok Agent prototype, the team also rolled out automatic speech intent recognition, brain signal input, and iPhone calling capabilities. The patient can generate speech via the BCI to make calls with his wife, and even place orders at a coffee shop. Two days ago, Neuralink released early results from its speech restoration trial: an ALS patient achieved 75 English words per minute with a 5.8% word error rate in the first week of use. Musk predicts that BCI information output speed will far outpace human speech or typing rates in the coming years.
6 minutes ago
Synology NAS devices in South Korea have been struck by a ransomware attack, with hackers demanding approximately 0.037 BTC to ransom the data.
According to ChosunBiz, multiple ransomware attacks targeting Synology Network-Attached Storage (NAS) devices have recently emerged in South Korea. Attackers exploited vulnerabilities in Synology’s DiskStation Manager (DSM) system to infiltrate the devices, encrypting users’ stored photos, files and other data, with affected files appended with the “.L0CK3D” suffix. The attackers demand victims pay 0.036960 BTC (approximately $2,952, or 4 million South Korean won) within 5 days to purchase a decryption tool called “C3RB3R DECRYPTOR”; ransom will double to 0.073920 BTC (about $5,904, or 8 million South Korean won) if payment is not made by the deadline. Chinese cybersecurity firm 360 analyzed that the attackers likely exploited two DSM vulnerabilities disclosed by Synology in September this year—CVE-2026-13639 and CVE-2026-13684—to breach devices, using a ransomware variant named C3RB3R to encrypt files. Both vulnerabilities allow external attackers to read or modify files without logging in, each carrying a CVSS severity score of 9.8 out of 10. Synology stated the attacks targeted devices running outdated DSM systems, advising users to immediately upgrade to the latest version. For already infected devices, it recommended disconnecting from the network or powering off, and restoring data via prior backups or snapshots. Synology has not yet released a decryption tool, recovery cost support, or compensation plan. The Korea Internet & Security Agency (KISA) has been receiving victim reports since around October 28, and is preparing to provide technical support, but has not disclosed specific victim scale or incident response details. The report notes the actual scale of losses from the attacks remains unclear, and work files and backup data on enterprise NAS devices may also be impacted.
6 minutes ago
A large crypto whale closed long positions in BTC and ETH, reaping $17.78 million in profits, before opening short positions for 20,000 ETH.
According to monitoring by Tradingbeats, an address starting with 0x15a liquidated $100 million worth of BTC and ETH long positions on Hyperliquid, realizing a profit of $17.78 million. The address subsequently opened a short position of 20,000 ETH at $2,228, valued at $44.6 million. The address opened long positions of 1,000 BTC at $62,353 and 10,000 ETH at $1,762 in early July 2026, holding the positions for nearly four months.
Arbitrum has frozen approximately $30.5 million worth of ARB, while Paxos has frozen around $215,700 worth of USDP. According to on-chain analyst Specter, the total cumulative frozen amount stands at roughly $2.829 billion. The figures are based on on-chain monitoring data and have not yet been officially confirmed.
Arbitrum officials announced in a statement that its Security Council has taken emergency action to transfer approximately 74,559,805 ARB and 8,425 ETH from addresses on Arbitrum One linked to the Binance attack to secure wallets. Following technical evaluation, the transfer was completed without altering the rest of the chain’s state or affecting other users. As of October 30, the funds have been deposited into an intermediate frozen wallet, and the original addresses can no longer access the assets. Future disposal will be handled either by the Security Council or via a vote by the Arbitrum DAO, with coordination with relevant parties to follow.
At 8:08am HKT, 30th October 2026, the Security Council executed an emergency action to freeze 8,425 ETH and 74,559,805.2 ARB held on Arbitrum One by an address identified with today’s Binance exploit. The funds are now held at 0x0000000000000000000000000000000000000DA0. The funds can only be moved by an ArbitrumDAO Governance vote, which will be coordinated with relevant parties.
Key point: Funds associated with the Binance exploit are frozen on Arbitrum One. No other user’s funds or applications were affected.
Security Council Actions
The technical approach taken by the Security Council was to implement an atomic action to upgrade the inbox contract on Ethereum, freeze the funds, and return the contract back to its original implementation.
The Inbox Contract was upgraded to add a new function, sendUnsignedTransactionOverride, which imitates the structure of a standard cross-chain transaction with the ability to impersonate the transaction sender. Two cross-chain transactions were created to impersonate the address associated with the Binance exploit, and these transactions transferred the stolen funds to 0x0000000000000000000000000000000000000DA0. Finally, the inbox implementation was upgraded to return it back to the original implementation.
Arbitrum contributors prepared the transaction payload and it was verified by the Security Council before it was signed and executed. The current Security Council members are listed at Security Council Members | Arbitrum DAO - Governance docs.
Emergency Action Transaction
The Security Council signed the following transactions to perform the on-chain action:
Binance etiketli cüzdanlardan milyarlarca dolarlık şüpheli varlık çıkışına ilişkin gelişmeler sürerken, saldırganın kontrolünde olduğu belirtilen adreslerde yeni satış hareketleri tespit edildi. Zincir üstü verilere göre, UNI satışlarının ardından yaklaşık 68 milyar PEPE tokeni de Uniswap üzerinden takas edildi. İşlem sonucunda yaklaşık 307,7 bin dolar değerinde ETH elde edildiği görülüyor. Öte yandan Binance ile bağlantılı cüzdan hareketleri ve USDT transferlerine ilişkin yeni iddialar da gündeme geldi.
Binance Hacker’ı PEPE Satışının Ardından ETH Aldı Binance hack olayıyla bağlantılı olduğu öne sürülen cüzdanlarda dikkat çeken satış işlemleri gerçekleşti. Paylaşılan işlem kayıtlarına göre, saldırganın kontrolünde olduğu belirtilen adreslerden yaklaşık 68,01 milyar PEPE tokeni Uniswap üzerindeki bir likidite havuzuna aktarıldı. İşlemin devamında yaklaşık 135,34 WETH’nin ETH’ye çevrildiği ve elde edilen varlığın cüzdana gönderildiği görüldü. Zincir üstü işlem görüntüsünde alınan ETH’nin değeri yaklaşık 307,7 bin dolar olarak gösterildi. Bu hareket, Binance etiketli cüzdanlarla bağlantılı olduğu iddia edilen varlıkların yalnızca farklı adreslere aktarılmadığını, aynı zamanda merkeziyetsiz borsalar üzerinden satış ve takas işlemlerinde de kullanılabileceğini ortaya koyuyor.
PEPE işlemlerinden önce UNI tokeninde de benzer takas hareketleri tespit edilmişti. Paylaşılan kayıtlarda Uniswap V2, V3 ve V4 üzerinden farklı likidite havuzlarında işlemler gerçekleştirildiği görülüyor. Bunlar arasında UNI-USDT ve UNI-WBTC havuzları da yer alıyor. İlk varlık dökümünde, izlenen çıkışlar arasında yaklaşık 53,29 milyon dolar değerinde 7,01 milyon UNI ve 38,91 milyon dolar değerinde 7,77 trilyon PEPE bulunduğu belirtilmişti. Söz konusu işlemler, saldırganın elinde olduğu iddia edilen altcoinlerin likidite havuzları üzerinden farklı varlıklara dönüştürüldüğüne işaret ediyor. Ancak bu hareketlerin tamamının nihai satış miktarını veya saldırganın elde ettiği toplam kazancı gösterdiğini söylemek için daha kapsamlı zincir üstü veriler gerekiyor.
Binance Etiketli Cüzdanlardan 5,64 Milyar Dolarlık Çıkış İzlendi Binance etiketli cüzdanlarla bağlantılı olduğu belirtilen altı farklı blockchain üzerindeki toplam varlık çıkışı yaklaşık 5,64 milyar dolar olarak hesaplandı. Paylaşılan analizde ağlara göre dağılım şu şekilde gösterildi:
Ethereum: Yaklaşık 3,53 milyar dolar Bitcoin: Yaklaşık 1,45 milyar dolar Tron: Yaklaşık 627,83 milyon dolar Arbitrum, Optimism ve Base: Toplam yaklaşık 38,42 milyon dolar Toplam 70 varlığı kapsadığı belirtilen listede USDT, BTC, USDC ve ETH gibi büyük kripto paraların yanı sıra RLUSD, wBETH, UNI, XAUt, ENA, PEPE, LINK ve USD1 de bulunuyor. Bu rakamlar, izlenen cüzdanlarla bağlantılı varlık hareketlerini gösteriyor. Binance tarafından doğrulanmış kesin bir kayıp miktarı olarak değerlendirilmemeleri gerekiyor.
Binance 14 Cüzdanındaki USDT Transferleri Dikkat Çekti Olayla ilgili bir diğer önemli iddia ise “Binance 14” etiketi taşıyan cüzdan üzerinden gerçekleşen işlemler oldu. Ayrı bir zincir üstü analizde, söz konusu cüzdanın EIP-7702 aracılığıyla saldırgana ait olduğu öne sürülen bir akıllı sözleşmeye yetki verdiği ve bu yetkilendirmenin devam ettiği belirtildi. Aynı analizde, cüzdana 30 Ekim saat 00.44 UTC+3’te 200 milyon USDT yatırıldığı ifade edildi. Yalnızca altı blok sonra 200,4 milyon USDT, 369,8 ETH ve yaklaşık 12 farklı tokenın başka bir adrese aktarıldığı öne sürüldü. Alıcı adresin dondurulması nedeniyle USDT varlıklarının bloke edildiği, ancak ETH ve diğer tokenların bu dondurma işleminden etkilenmediği bildirildi. Bu gelişme, olayın yalnızca varlık çıkışlarıyla sınırlı olmadığını, cüzdan yetkilendirmeleri ve farklı tokenların kurtarılması açısından da yakından takip edildiğini gösteriyor.
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PEPE price has fallen toward $0.0000049 on October 30 after the attacker behind the Binance hack reportedly sold 7.77 trillion tokens worth nearly $31.66 million, adding pressure to an already volatile cryptocurrency market.
Summary
PEPE price traded near $0.0000049 on October 30 after a volatile session that took the token as low as $0.0000044. Lookonchain reported that the Binance attacker sold 7.77 trillion PEPE worth approximately $31.66 million. A trader known for an early PEPE investment reportedly bought another 45.08 billion tokens after the sale. PEPE futures volume climbed as open interest fell, showing traders reducing outstanding leveraged positions. Technical levels to watch include support at $0.0000045 and resistance between $0.0000050 and $0.0000052. According to blockchain tracker Lookonchain, the attacker exchanged the stolen PEPE at an average price near $0.0000041 as part of a larger sale involving several cryptocurrencies. The trades brought in ETH, while the meme coin later recovered from its intraday low near $0.0000044.
At the time of reporting, PEPE traded around $0.00000491, down 1.29% over 24 hours, as per crypto.news market data. Its trading range stretched to $0.0000057, showing how broadly prices had moved during the session.
Binance hacker sells 7.77 trillion PEPE as market weakens The reported sale followed the October 29 security breach at Binance, where attackers gained unauthorized access to exchange-controlled cryptocurrency wallets.
Lookonchain identified the sale of 7.77 trillion PEPE alongside transactions involving UNI, ENA, LINK, AAVE, ONDO and WLD. Together, the seven token sales generated approximately 70,480 ETH worth $158.25 million at the time.
PEPE accounted for $31.66 million of the total, making it one of the larger individual sales. The tracker reported that the attacker had completed the transactions, although movements from other wallets remained under scrutiny.
On-chain analyst Darkfost separately reported almost $38.55 million in PEPE moving during the incident. His earlier estimate covered a different stage of the activity and should not be added to the completed sale.
🚨Things are moving fast, and the Binance exploit is ongoing.
$38.55M worth of $PEPE has also just been moved, in addition to LINK, UNI, ENA, COMP, AAVE, QNT, SHIB, ONDO, PENDLE, IMX, MORPHO, and others.
The figures are changing rapidly, but for now, the reported value of… https://t.co/3mZkY3620t pic.twitter.com/RLUox5y87J
— Darkfost (@Darkfost_Coc) October 29, 2026 As reported earlier today, the attacker exploited Ethereum’s EIP-7702 authorization system to gain control of a Binance hot wallet. The exchange estimated that the security breach affected approximately $6.3 billion in cryptocurrency.
The large PEPE sale occurred while Bitcoin and several major altcoins were declining. However, the available trading data does not establish how much of PEPE’s entire daily price movement came directly from the attacker’s transactions.
PEPE whale buys 45 billion tokens following hacker sales While the attacker was selling, another closely watched PEPE wallet reportedly returned to the market.
In an October 30 update, Lookonchain identified a trader known as dimethyltryptamine.eth purchasing another 45.08 billion PEPE worth almost $206,500 after the reported hacker sales.
The wallet attracted attention because of an earlier investment in the meme coin. According to the tracker, the trader originally spent 0.125 ETH, worth $251 at the time, to acquire 5.9 trillion PEPE that later reached a peak valuation of $100 million.
The reported October purchase was much smaller than the attacker’s sale. At 45.08 billion tokens, it represented roughly 0.58% of the 7.77 trillion PEPE sold by the hacker.
Another prominent holder had been accumulating the token before the security incident. On October 27, crypto.news reported Justin Sun’s holdings after Arkham identified wallets linked to the Tron founder controlling 2.82% of PEPE’s total supply.
The wallet purchases show that some large holders were active during the volatility, although individual transactions do not establish a lasting recovery in market demand.
PEPE futures volume rises as open interest falls Derivatives trading intensified during the price swings, with CoinGlass figures showing PEPE futures volume rising 59.84% to nearly $1.52 billion.
Open interest fell 10.09% to $369.85 million in the supplied snapshot. The decline indicates that the total value of outstanding futures positions decreased even as trading activity picked up.
A separate liquidation reading around 03:00 showed approximately $1.53 million in affected positions, split between $773,530 in longs and $754,170 in shorts. OKX accounted for the largest portion of those recorded liquidations.
PEPE perpetual liquidations, source: CoinGlass
The nearly equal totals show traders on both sides getting caught during the price swings. They do not establish whether buying or selling will dominate the next session.
An earlier PEPE price report described renewed trading interest after whale purchases and exchange withdrawals. The latest futures figures instead show reduced outstanding leverage during a much more volatile session.
PEPE price analysis points to $0.0000050 resistance PEPE’s daily chart showed a rebound from $0.0000044 toward $0.0000050, although sellers had previously rejected prices near $0.0000056.
The Relative Strength Index stood at 60.55, above its moving average of 55.86. That reading suggests improving momentum without reaching the commonly watched overbought threshold of 70.
PEPE price chart, source: crypto.news Immediate resistance remains near $0.0000050, followed by the $0.0000055–$0.0000057 area. A loss of $0.0000045 could bring the Bollinger Band midpoint near $0.00000435 into focus.
Crypto analyst Trader Symba identified a possible cup-and-handle formation on the 12-hour chart, with resistance between $0.0000050 and $0.0000052.
$PEPE is showing a promising development on the 12H chart, with a potential cup-and-handle formation taking shape.
Price is now pushing into the $0.0000050–$0.0000052 neckline resistance. I'll be watching for a sustained breakout and successful retest of this region. If bulls… pic.twitter.com/VKHItoxiE8
— Trader Symba (@Nebulabsxyz) October 29, 2026 The analyst said a sustained breakout followed by a successful retest could open a move toward $0.0000065–$0.0000068, near the upper boundary of the chart pattern.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
A tax bill can arrive for gains you never chose to take, and the window to fight back closes December 31. Knowing which moves to make before year-end, and which ones quietly void your losses, separates investors who absorb the…
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You never sold a share. The mutual fund is still sitting in your taxable brokerage account, and you plan to keep it for years. Then a Form 1099-DIV shows up with a capital gain on it, and you owe tax on that gain anyway.
The gain came from the fund’s managers. They sold winners inside the portfolio and passed the profit along to you. One common defense is selling losing positions elsewhere in a taxable account before December 31, so those losses offset the distribution on the return. Fund estimates are already coming out. Morningstar (NASDAQ:MORN | MORN Price Prediction) published its look at which funds will pay the biggest 2026 capital gains distributions on October 27, 2026.
Why Your Fund Sends a Tax Bill When You Never Sold IRS Publication 550 (TY2025) says mutual funds pay capital gain distributions to you or credit them to your account. The amount shows up on Form 1099-DIV, box 2a. You report these distributions “as long-term capital gains, regardless of how long you owned your shares”. So even if you bought the fund in November, the distribution counts as long-term.
Reinvesting doesn’t get you out of it. Most funds let shareholders reinvest distributions automatically. But when those new shares are bought at fair market value, “you must still report the dividends as income”. The reinvested amount becomes the cost basis of the new shares, so keep records of it and you won’t pay tax on that money a second time when you sell.
The late-year timing is written into the tax code. Under 26 U.S.C. § 4982, a fund owes a 4% excise tax on any shortfall below a required distribution. That required amount includes 98.2% of the fund’s capital gain net income for the one-year period ending October 31. That’s why the payouts pile up in the last weeks of the calendar.
How Harvested Losses Wipe Out Fund Distributions Distributions go in Part II of Schedule D, alongside your other long-term gains and losses. Publication 544 (TY2025) puts it simply: “Capital losses are allowed in full against capital gains plus up to $3,000 of ordinary income.” Each dollar of harvested loss offsets a dollar of distribution before any tax is calculated.
If your losses are bigger than your gains, a annual limit applies to the extra: $3,000, or $1,500 if married filing separately. Whatever is left over carries forward until it is completely used up, and it remains long-term or short-term, whichever it was originally.
The IRS goes through its own example. Bob and Shelly sold securities in 2025 at a $7,000 capital loss. They had no other capital transactions and taxable income of $26,000. They deduct $3,000 on their joint 2025 return and carry the unused $4,000 forward. If they had also received fund distributions, the loss would have offset those first, dollar for dollar, before counting toward the deduction.
How much this saves depends on your bracket. For 2025, the 0% rate on net capital gain covered taxable income up to $96,700 for joint filers and $48,350 for single filers. Above those lines, most gains are taxed at 15%, with 20% at the top. If you remains inside the 0% zone, harvesting doesn’t buy you much. Above it, the savings add up.
Buying Before the Record Date Means Buying Someone Else’s Gain When a fund pays a distribution, its share price drops by about the same amount. If you buy shares just before the record date, part of what you just invested comes straight back to you as a taxable distribution.
That’s why many fund companies post estimated distributions before the payout. Before you put new money into a fund in a taxable account late in the year, look up the estimate and the record date. Often, waiting until after the distribution avoids the bill entirely.
Wash Sale Rule Can Quietly Erase Your Harvested Loss Publication 550 disallows your loss if you buy substantially identical securities within 30 days before or after the sale. That includes purchases in your IRA or Roth IRA. A purchase by your spouse counts too. The disallowed loss gets added to the cost of the new shares, which postpones the loss deduction until you sell those shares.
Funds set two traps here. First, switching into a near-twin fund, such as one that tracks the same index, invites a “substantially identical” challenge. Second, automatic reinvestment counts as a purchase. If the same fund reinvests a distribution within 30 days of your loss sale, you lose the deduction on a matching number of shares. Turn off reinvestment before you harvest.
ETFs and Index Funds Tend to Leave Smaller Tax Bills Index funds trade less, so they have fewer gains to pass along. ETFs usually handle redemptions by handing securities directly to large trading firms instead of selling them. That lets them get rid of low-basis shares without triggering gains. Still, neither type of fund guarantees a zero distribution.
Where you hold a fund matters too. Active funds that trade a lot do less damage inside an IRA or 401(k), where distributions aren’t taxed when they’re paid.
Pull the distribution estimates for every fund in your taxable account and compare them against the positions sitting on losses. Investors who harvest losses typically sell before December 31, turn off reinvestment, and stay out of the same holding for more than 30 days. Choosing which lots to sell is math worth running with a CPA before the year ends.
Contact [email protected] for any questions or corrections.
Binance suffered the biggest hack in crypto history on October 29, with more than $6.3 billion worth of crypto assets stolen. Among the stolen assets is Pepe Coin (PEPE), whose price dropped to $0.0000049 after reports that the hacker sold 7 trillion coins.
PEPE price was down by 1.77% at the time of writing. Meanwhile, CoinMarketCap data shows that the meme coin’s trading volumes had surged by 114% to $1.83 billion.
Source: CoinMarketCap Pepe Coin’s has also seen an increase in long liquidations to a multi-month high, adding to the sell-side pressure.
Hacker Drains 7 Trillion PEPE From Binance Data from Whale Alert shows that the attackers behind the Binance breach, who have since been identified as North Korean hackers, moved 7 trillion PEPE. The coins are worth $37.4 billion.
Arkham researcher Emmett Gallic, notes that the hacker has since sold all of the stolen PEPE tokens, in a move that caused a massive surge in volatility.
Pepe Coin price moved from $0.00000568 to a daily low of $0.00000440 before closing the daily candle at $0.00000456. The meme coin has since made a slight recovery but has yet to cover all the losses from the Binance hack selloff.
Source: TradingView However, LookonChain shows that after the attacker dumped all the 7 trillion PEPE, whales reentered the market and started to buy PEPE. One of these traders is dimethyltryptamine.eth who has purchased 45 billion PEPE coins.
Source: Arkham The address now holds 2.04 trillion Pepe Coins that are worth more than $10 million per data from Arkham. This purchase suggests that some traders expect Pepe Coin price to recover.
PEPE Liquidations Soar as Open Interest Drops 10% Data from CoinGlass shows that Pepe Coin recorded $3.45 million worth of long liquidations on October 29. This marks the highest long liquidations seen by the Ethereum-based meme coin since May.
Source: CoinGlass These liquidations have caused a 10% decline in open interest to $368 million at the time of writing. The OI had reached $400 million on October 28 following reports that Justin Sun purchased $51.25 million worth of PEPE.
However, the weighted funding rate has dropped to -0.012%, suggesting that short sellers are paying long buyers to keep their positions open. PEPE’s long/short ratio has also dropped to 0.98, as the number of short accounts topples that of long accounts.
The negative weighted funding rate and the falling long/short ratio suggest that the sentiment towards Pepe Coin price is bearish as futures traders anticipate another downward move.
Pepe Coin Price Prediction Targets $0.0000070 as Uptrend Holds Zooming out on the weekly chart for Pepe Coin price shows that the meme coin is in an uptrend. Despite the hacker selloff and a weakened sentiment thereafter, bulls are still testing the resistance at the upper trendline of the channel.
If PEPE breaks out, the next target will be the midline of the FVG gap at $0.0000070. Whether PEPE closes above that midline will determine whether the uptrend will continue.
Source: TradingView The RSI remains at 61, which also supports a bullish Pepe Coin long term price prediction. It shows that the momentum is leaning bullish. PEPE also remains above the 50-day EMA, which also suggests that the short term is favoring bulls.
On the downside, the support lies at the lower trendline of the ascending channel. Losing this support might push Pepe Coin price to $0.00000316.
Is a Crash Looming? The Binance hacker has already sold off all the 7 trillion PEPE drained from the Binance exchange, and the price is holding steady at $0.000049 after avoiding a major decline.
Since the selloff has already occured, Pepe Coin price might not crash further, and onchain data also shows that some traders have started to buy the dip.
A crash in Pepe Coin price will only occur if there is weakness in the broader crypto market and bitcoin extends its decline below $80,000.
USD/CHF has seen a fresh drop from the 0.8317 area, where the previously broken channel support line acted as nice resistance. We think there is now a risk of deeper declines, and looking at the overall structure, it seems that a third leg down could be in the cards.
We are talking about wave C, which could start targeting lower prices near 0.8100 next week, where wave C could potentially be equal to wave A. On the 4-hour chart, the pair is already back near the 0.8207 support line.
If we see any new recovery, the 0.8317 area would be important resistance to watch. For now, USD/CHF looks neutral or even bearish, especially if we get more evidence that a higher-degree leading diagonal has topped out. An important top would be confirmed if the market breaks well below 0.8110. Until then, we prefer to treat any bounce as a possible retest of resistance rather than the start of a new rally.
In the bigger picture, on a higher-degree chart, we see an ongoing triangle, with price now moving into the lower side of the range, where support sits near the 78.6% Fibonacci retracement around 0.7700.
Next week, the US jobs report on Friday, November 6, at 14:30 CET will be the key event for the dollar side of this pair, and it could easily speed up the move toward 0.8100 or cause a temporary pause along the way.
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New York, New York--(Newsfile Corp. - October 30, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Beta Bionics, Inc. ("Beta Bionics" or the "Company") (NASDAQ: BBNX) on behalf of investors that purchased or otherwise acquired Beta Bionics common stock between July 30, 2025 and February 24, 2026 (the "Class Period").
CLICK HERE TO JOIN THE CASE
If you are an investor in Beta Bionics and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than November 3, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
Beta Bionics is a commercial-stage medical device company, serving patients with diabetes through the iLet Bionic Pancreas insulin pump ("iLet"), an automated insulin delivery system. The complaint alleges that throughout the Class Period, Beta Bionics received thousands of complaints from iLet customers, including numerous reports of serious, life-threatening hypoglycemia caused by device malfunctions that required hospitalization to treat. The root cause of these malfunctions was allegedly iLet's extremely aggressive dosing algorithm.
The truth was allegedly revealed through a series of disclosures starting on January 8, 2026 when Beta Bionics surprised investors with a miss on the key metric of new iLet patient starts, which was followed by a 37% one-day stock price decline. Finally, on February 24, 2026, the full truth was allegedly revealed when the U.S. Food and Drug Administration (the "FDA") publicly released its warning letter detailing a litany of violations and Defendants' failure to correct them, and contradicting months of Defendants' public statements that all back-filed complaints were for entirely benign issues. According to the complaint, the warning letter made clear that Defendants' prior interpretation of FDA reporting requirements had not been reasonable, and had excluded numerous serious patient incidents that clearly should have been reported.
CLICK HERE TO LEARN MORE
WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.
If you have any questions about this Notice, your rights, or your interests, please contact:
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
New York, New York--(Newsfile Corp. - October 30, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Alphabet Inc. ("Alphabet" or the "Company") (NASDAQ: GOOGL) (NASDAQ: GOOG) on behalf of investors that purchased or otherwise acquired Alphabet securities between May 19, 2026 and July 16, 2026 (the "Class Period").
CLICK HERE TO JOIN THE CASE
If you are an investor in Alphabet and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than December 1, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On July 16, 2026, according to the complaint, Bloomberg reported that Google is "months behind schedule on delivering Gemini 3.5 Pro, its most powerful flagship AI model" due to the Company's ongoing coding efforts and that "[l]ate last month, Google updated the data being used to train Gemini in an attempt to improve [its] skills, but the results were disappointing."
On this news, the price of Alphabet's Class A and Class C common stock fell $16.46 per share and $16.39 per share, respectively, or 4.4%, on July 16, 2026.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose (1) that the Gemini 3.5 Pro was delivering disappointing training results, and (2) that, as a result, the launch of Gemini 3.5 Pro would be significantly delayed.
CLICK HERE TO LEARN MORE
WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.
If you have any questions about this Notice, your rights, or your interests, please contact:
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
New York, New York--(Newsfile Corp. - October 30, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Millrose Properties, Inc. ("Millrose" or the "Company") (NYSE: MRP) on behalf of investors that purchased or otherwise acquired Millrose securities between February 7, 2025 and October 2, 2026 (the "Class Period").
CLICK HERE TO JOIN THE CASE
If you are an investor in Millrose and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than December 8, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
The Class Period begins on February 7, 2025, the day the spin-off of Millrose from Lennar became effective. According to the complaint, the prospectus for the spin-off stated "[w]e do not, and will not, have any lease agreements with respect to the Transferred Assets and the Supplemental Transferred Assets, do not intend to enter into any lease agreements in the foreseeable future and do not, and will not, have any tenants or occupants on any of the properties in the Real Estate Portfolio."
According to the complaint, on October 2, 2025, Hunterbrook Media issued a report revealing that Millrose purchased $200 million worth of finished homes from Lennar, an entity that controls Millrose, with the intent of leasing those properties on the rental market. The Hunterbrook Media report allegedly further revealed that Millrose is making a loss on those rental properties. On this news, the price of Millrose shares fell 8.5%, or $2.10 per share, on October 5, 2026 according to the complaint.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that despite representations to the contrary (i) Millrose's objectives were not limited to engaging in land purchases, horizontal development, and homesite option purchase arrangements for Lennar and potentially other homebuilders and developers; and (ii) Millrose would in fact enter into lease agreements and would have tenants in its properties.
CLICK HERE TO LEARN MORE
WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.
If you have any questions about this Notice, your rights, or your interests, please contact:
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
Fluence Energy is rated Buy with a 12-month $9 price target, contingent on resolving Houston plant bottlenecks. Supply constraints, not demand, are the core issue; backlog stands at $6.4 billion with Q3 orders of $1.44 billion. Execution at the Houston facility is pivotal; ramping production to 10 units/day by 2027 underpins valuation assumptions.
30 October 2026 — British Virgin Islands — USDD has reported strong treasury performance in Q3 2026, alongside continued growth in key metrics, including circulating supply and total value locked (TVL). These latest milestones reflect the protocol’s expanding ecosystem, with growing multichain adoption, new DeFi integrations, and broader opportunities for users to earn, transfer, and deploy USDD.
As a decentralized, overcollateralized stablecoin, USDD is focused on combining stability with practical utility. Let’s take a closer look at the key developments behind USDD’s recent growth.
USDD’s Growing Market Presence: New Milestones According to a recent report jointly published by RWA Foundation and Token Terminal, USDD recorded the largest market capitalization increase among the top 10 stablecoin issuers during October 12–19, 2026. USDD’s market capitalization grew by $180.3 million, accounting for approximately 40% of the combined $449.1 million increase recorded by the top 10 issuers.
For comparison, Sky ranked second with an increase of $86 million, while United Stables recorded growth of $22.8 million. This performance highlights USDD’s strong momentum relative to other major stablecoin projects.
As of October 29, 2026, USDD’s circulating supply has also surpassed $1.48 billion, reinforcing its position as the largest decentralized stablecoin on TRON. Meanwhile, protocol TVL has reached $2.18 billion, reflecting the substantial value of assets supporting the ecosystem.
Beyond these figures, USDD’s expanding DeFi integrations and transfer solutions are creating more opportunities for users to put their stablecoins to work. This growing utility provides an important foundation for broader adoption.
Expanding Utility: More Ways to Earn and Transfer USDD Beyond financial performance, USDD continues to expand its practical applications through new DeFi partnerships and transfer integrations. These developments focus on two important user needs: earning competitive yields and moving stablecoins conveniently.
More Earning Opportunities Across DeFi USDD Earn allows users to deposit USDD and receive sUSDD, currently offering a base APY of 4% with flexible withdrawals and no fixed lockup period. Users can also explore additional earning opportunities through partner platforms.
USDD has partnered with Binance Wallet and Gate DEX to expand earning opportunities, while campaigns such as TRON DeFi Summer provide additional incentives for users, allowing them to maximize their earning opportunities. For experienced users, there are also advanced lending and looping strategies on Pendle and Morpho to further increase earning potential.
Together, these integrations give users more flexibility to choose strategies based on their investment preferences and risk tolerance. Yields are subject to change, and advanced DeFi strategies involve additional risks.
Making Transfers Easier with GasFree and TokenPocket USDD is also making transfers simpler and more affordable through integrations with GasFree and TokenPocket. Both solutions allow users to pay supported transaction fees directly in USDD on TRON without separately holding TRX.
On August 17, 2026, GasFree integrated USDD, marking a significant step toward making USDD transfers simpler, more efficient, and more cost-effective for everyday on-chain use. USDD currently supports GasFree transfers on TRON. The wallets currently supporting GasFree access are TronLink, Guarda, Klever Wallet, and eDir. Through GasFree, USDD transfers have cost approximately 0.5 USDD per transaction, compared with approximately 1.5 USDT for comparable USDT transfers.
TokenPocket provides another way to make USDD transfers simpler. With USDD supported as a network fee payment option on TokenPocket, users can keep their transfer activity centered around USDD. TokenPocket’s Gas Boost Season campaign has also offered a 50% gas fee subsidy for users paying gas with USDD, further reducing costs for eligible users.
These integrations help reduce friction for wallet-to-wallet transfers, payments, and everyday on-chain activities. By combining earning opportunities with convenient transfers, USDD is becoming more practical for users beyond simply holding or trading stablecoins.
Multichain Expansion: Growing Across TRON, Ethereum, and BNB Chain USDD’s growing presence across TRON, Ethereum, and BNB Chain is another important part of its ecosystem development, allowing it to reach more users and connect with a broader range of DeFi applications. Ethereum, in particular, accounts for a significant share of USDD’s multichain supply. As of October 29, 2026, $329.94 million of USDD’s $1.48 billion total circulating supply is on Ethereum, representing approximately 22.3%. Supporting multiple networks allows USDD to reach more users and connect with a wider range of DeFi applications.
TRON remains a core ecosystem, with integrations such as Binance Wallet, GasFree, and TokenPocket supporting both earning and transferring. These applications strengthen USDD’s utility within TRON’s established stablecoin infrastructure.
On Ethereum and BNB Chain, USDD and sUSDD provide access to additional DeFi opportunities. This broader network presence allows users to explore different earning products, lending markets, and liquidity opportunities across ecosystems.
For USDD, multichain expansion is not simply about being available on more blockchains. It is about giving users more ways to put their assets to work and expanding the stablecoin’s practical applications.
Record Treasury Performance in Q3 As USDD expands its earning opportunities, transfer utility, and multichain presence, its financial performance and key protocol metrics are also showing steady progress, reflecting growth across both its ecosystem and treasury.
USDD’s latest Treasury Report in Q3 2026 revealed another strong quarter, with revenue reaching $9.70 million, up 26.7% quarter over quarter. The treasury balance also surpassed $30 million for the first time, reaching $31.24 million.
A major contributor to this performance was Smart Allocator, USDD’s on-chain asset allocation system, which generated $9.11 million in Q3 income. By deploying funds from USDD’s protocol capital across selected DeFi strategies, Smart Allocator supports the protocol’s approach to generating sustainable yields over the long term.
Its investment activities and performance are also publicly visible on-chain, allowing users to monitor how assets are allocated. Together, these results demonstrate USDD’s growing income-generating capabilities and commitment to transparency.
Explore USDD’s treasury and Smart Allocator data:
https://usdd.io/treasury
https://usdd.io/smart-allocator
Beyond the Numbers: What’s Next for USDD? USDD’s recent milestones reflect progress across three key areas: growing market presence, stronger treasury performance, and expanding ecosystem utility.
With circulating supply surpassing $1.48 billion, protocol TVL reaching $2.18 billion, and Q3 treasury revenue totaling $9.70 million, USDD has demonstrated significant momentum. At the same time, integrations with treasured ecosystem partners such as Binance Wallet, Gate DEX, GasFree, and TokenPocket are expanding the ways users can earn and transfer USDD.
Looking ahead, continued development across TRON, Ethereum, and BNB Chain will create further opportunities to connect USDD with new applications and users. While future growth depends on market conditions and adoption, the latest milestones highlight USDD’s progress toward building a more accessible and useful decentralized stablecoin ecosystem.
Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $50.91 per troy ounce, down 2.42% from the $52.17 it cost on Thursday.
Silver prices have decreased by 28.38% since the beginning of the year.
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 78.54 on Friday, up from 77.08 on Thursday.
Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
3 Healthcare Stocks With Fresh Dividend Hikes and Different Income ProfilesEncompass Health NYSE: EHC raised its full-year 2026 outlook after reporting third-quarter revenue growth of 8.9%, adjusted EBITDA growth of 15.5% and adjusted earnings-per-share growth of 23.6%, driven by higher discharges, increased patient acuity and revenue per discharge.
President and Chief Executive Officer Mark Tarr said revenue increased 9.2% during the first nine months of 2026, while adjusted EBITDA rose 11.9% and adjusted EPS increased 17%. The company also highlighted patient-outcome measures that exceeded industry averages, including a 84.7% discharge-to-community rate, an 8.4% discharge-to-acute-care rate and a 6.2% discharge-to-skilled-nursing-facility rate in the third quarter.
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Healthcare Added 35,200 Jobs—3 Stocks Positioned to BenefitTarr said Encompass Health treated 37,620 stroke-recovery patients through the first three quarters of 2026, representing about 18% of its patient mix. He also cited updated American Heart Association and American Stroke Association guidelines that recommend inpatient rehabilitation facilities over skilled nursing facilities for eligible stroke patients when both settings are available.
Higher volumes and acuity support results Chief Financial Officer Doug Coltharp said third-quarter revenue growth reflected a 5.7% increase in discharges and a 4% rise in net revenue per discharge. Revenue per discharge continued to benefit from higher patient acuity, he said.
More Than Yield: 5 Stocks Beating the Market and Hiking DividendsAdjusted EBITDA reached $346.6 million in the quarter. The company absorbed an $11.5 million year-over-year decrease in net provider-tax contribution, as Medicaid supplemental payments declined compared with the prior-year period. Encompass Health now expects net provider-tax contribution to adjusted EBITDA of about $3 million for 2026, down from a previous expectation of approximately $10 million.
Bad debt expense was 2.7% of revenue in the third quarter, which Coltharp attributed primarily to a billing and collections disruption following a second-quarter system conversion. The company transitioned from its legacy PATCOM patient-billing platform to an Oracle module. Pending claims in the legacy system required manual processing, creating a backlog, particularly for managed-care and Medicare Advantage claims.
Coltharp said the company expects the backlog to be cleared by year-end and expects fourth-quarter bad debt expense to return to its recent historical range of 2% to 2.5% of revenue.
Labor costs also remained an area of focus. Salaries, wages and benefits per full-time equivalent employee increased 3.8%, partly reflecting greater participation in career-ladder programs. However, premium labor costs fell $3.9 million from a year earlier to $23.1 million. Contract labor represented 0.9% of total FTEs, down 30 basis points year over year and the company’s lowest level since the fourth quarter of 2020.
Chief Operating Officer Pat Tuer said turnover rose slightly to 20.7% during the quarter but remained below the company’s historical average. He added that Encompass Health has recorded more full-time net registered-nurse hires through the first nine months of 2026 than it had in any of the previous five full calendar years.
Capacity expansion remains central to growth plans Encompass Health continued to add inpatient rehabilitation capacity during the quarter, opening a 50-bed hospital in Norristown, Pennsylvania, and adding 31 beds at existing hospitals. Through the third quarter, the company had opened four hospitals with 189 beds and added 85 beds at existing facilities.
Earlier in October, the company opened two additional 50-bed hospitals in Bangor, Maine, and San Antonio, Texas, and added 60 beds to existing hospitals. It expects to open two more hospitals with a combined 100 beds and add as many as 45 additional beds at existing facilities during the remainder of 2026.
The company’s announced development pipeline beyond 2026 includes 15 hospitals with 654 beds. This includes its first two small-format hospitals in Conroe and Richmond, Texas, which will expand its Houston market presence. One small-format hospital is expected to open in late 2027, with the company expecting development to accelerate in 2028 and 2029 as permitting and licensing models are established.
Coltharp said the company has identified roughly 200 potential locations for small-format hospitals. Encompass Health estimates a cost of about $1 million per bed and targets an internal rate of return of approximately 20% for these facilities. By comparison, the company said its de novo hospitals have targeted mid-teens returns, while bed additions at existing hospitals have produced internal rates of return of 25% or more.
The company also plans to add 150 to 200 beds at existing hospitals in 2027. Tarr said North Carolina’s repeal of its Certificate of Need law, effective Oct. 1, creates an opportunity in an underserved market. Encompass Health currently operates one North Carolina hospital, has prioritized 15 markets for development and has six real-estate parcels under contract.
Managed-care strategy and regulatory considerations Management said higher-acuity patient categories continued to grow. Tuer cited same-store growth of 9.3% in neurological rehabilitation, 5.1% in stroke, 5.7% in brain injury and 10.3% in major trauma. Lower-extremity joint replacements, a lower-acuity category, declined 5.3% on a same-store basis in the third quarter.
The company also reported continued growth in Veterans Affairs Community Care Network volume, which rose 21% in the third quarter following 26.4% growth in the prior-year period. Tuer said this business has grown at least 20% for six consecutive quarters.
Encompass Health is expanding its Medicare Advantage admit-and-appeal initiative after reporting that 87% of 294 reviewed claims were overturned in its favor, with 81% overturned before reaching an administrative law judge. The pilot, initially operated in nine markets, is being expanded across the company’s hospitals for stroke cases and to 13 pilot hospitals. Management said brain injury and spine could be the next diagnostic categories considered for broader expansion.
Coltharp also discussed the expected expansion of the Medicare Recovery Audit Contractor’s Review Choice Demonstration into Jurisdiction JJ, covering 75 additional Encompass Health hospitals beginning Jan. 1, 2027. The company expects hospitals initially to undergo 100% prepayment claim review through June 30. Hospitals that exceed an 80% affirmation rate could move to a 5% spot-check process beginning July 1.
Raised 2026 outlook and capital deployment Encompass Health raised its 2026 guidance and now expects:
Net operating revenue of $6.45 billion to $6.5 billion; Adjusted EBITDA of $1.395 billion to $1.415 billion; and Adjusted earnings per share of $6.23 to $6.37. Adjusted free cash flow for the first nine months of 2026 increased 8.9% to $634.2 million. During the third quarter, the company repurchased approximately 495,000 shares for $57.9 million, bringing year-to-date repurchases to roughly 1.91 million shares for $203.7 million. It also paid a quarterly cash dividend of $0.21 per share.
The company issued an additional $100 million of 5.875% senior notes due in 2034 during the quarter, bringing that note series to $600 million. Net leverage stood at 1.8 times at quarter-end, while Encompass Health had approximately $870 million available under its $1 billion revolving credit facility.
About Encompass Health (NYSE:EHC)Encompass Health Corporation NYSE: EHC is a healthcare services company that operates inpatient rehabilitation hospitals in the United States and Puerto Rico. Its hospitals provide intensive rehabilitation to patients recovering from conditions such as stroke, brain and spinal cord injuries, neurological disorders, amputations, hip fractures and other serious illnesses or injuries.
The company's services typically include nursing care, physical therapy, occupational therapy, speech and language therapy, respiratory therapy and medical management.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Encompass Health Right Now?Before you consider Encompass Health, you'll want to hear this.
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New York, New York--(Newsfile Corp. - October 30, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Duolingo, Inc. ("Duolingo" or the "Company") (NASDAQ: DUOL) on behalf of investors that purchased or otherwise acquired Duolingo Class A common stock between May 2, 2025 and February 26, 2026 (the "Class Period").
CLICK HERE TO JOIN THE CASE
If you are an investor in Duolingo and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than December 7, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
The complaint alleges that Duolingo made false and misleading statements concealing the negative impact of increased ad volume, subscription upsells, and AI-generated content on daily active user (DAU) growth. Following disappointing financial results revealing the slowdown in DAU growth and the departure of the Company's Chief Financial Officer, Duolingo's stock price dropped significantly on November 6, 2025 (25% stock drop), January 12, 2026 (8.5% stock drop), and February 27, 2026 (14% stock drop).
CLICK HERE TO LEARN MORE
WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America-the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act-$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
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Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
CZ: The loss gap from Binance’s attack is approximately $2 billion, and holding over $1 billion worth of SPCX stock can cover it.
CZ stated in a post that preliminary estimates put losses from Binance’s recent attack at over $6 billion, with roughly $3 billion in assets already frozen. The exchange’s SAFU Fund is valued at around $1 billion, leaving a remaining funding gap of approximately $2 billion. CZ added that Binance’s holdings of SPCX stock alone are worth over $1 billion; while the remaining gap represents a significant loss, it remains within controllable limits. Earlier, crypto analyst 0xngmi estimated the loss at roughly $1 billion, based on Binance’s total custodial assets and frozen assets, accounting for just 0.69% of the exchange’s total custodial assets. In response, CZ noted the actual loss may be slightly higher than that estimate, but Binance will cover all losses.
1 minutes ago
CZ slams Elon Musk for "inappropriate, untimely teasing", noting that Binance’s stake in SPCX is valued at over $1 billion.
Elon Musk reacted with an "awkward" emoji in discussions related to the Binance security incident. CZ responded to this, stating that while he has great respect for Musk, now is not the time for jokes and asked Musk to stop. Additionally, CZ noted that Binance invested $500 million when Musk acquired Twitter, and the SPCX shares held from this investment are now worth over $1 billion, expressing hope that Musk will provide some support.
1 minutes ago
Neuralink uses mind control to activate Grok for work, as brain-computer interfaces begin integrating with AI agents.
Beating AI Express News: Elon Musk’s brain-computer interface (BCI) firm Neuralink has unveiled a new feature—users only need to mentally utter “Hey Neuralink” and describe their desired task, and the Grok Agent will autonomously operate a computer without manual input. Neuralink engineers recently visited the home of an amyotrophic lateral sclerosis (ALS) patient, spending 72 consecutive hours developing and testing the new feature. Beyond the Grok Agent prototype, the team also rolled out automatic speech intent recognition, brain signal input, and iPhone calling capabilities. The patient can generate speech via the BCI to make calls with his wife, and even place orders at a coffee shop. Two days ago, Neuralink released early results from its speech restoration trial: an ALS patient achieved 75 English words per minute with a 5.8% word error rate in the first week of use. Musk predicts that BCI information output speed will far outpace human speech or typing rates in the coming years.
1 minutes ago
Synology NAS devices in South Korea have been struck by a ransomware attack, with hackers demanding approximately 0.037 BTC to ransom the data.
According to ChosunBiz, multiple ransomware attacks targeting Synology Network-Attached Storage (NAS) devices have recently emerged in South Korea. Attackers exploited vulnerabilities in Synology’s DiskStation Manager (DSM) system to infiltrate the devices, encrypting users’ stored photos, files and other data, with affected files appended with the “.L0CK3D” suffix. The attackers demand victims pay 0.036960 BTC (approximately $2,952, or 4 million South Korean won) within 5 days to purchase a decryption tool called “C3RB3R DECRYPTOR”; ransom will double to 0.073920 BTC (about $5,904, or 8 million South Korean won) if payment is not made by the deadline. Chinese cybersecurity firm 360 analyzed that the attackers likely exploited two DSM vulnerabilities disclosed by Synology in September this year—CVE-2026-13639 and CVE-2026-13684—to breach devices, using a ransomware variant named C3RB3R to encrypt files. Both vulnerabilities allow external attackers to read or modify files without logging in, each carrying a CVSS severity score of 9.8 out of 10. Synology stated the attacks targeted devices running outdated DSM systems, advising users to immediately upgrade to the latest version. For already infected devices, it recommended disconnecting from the network or powering off, and restoring data via prior backups or snapshots. Synology has not yet released a decryption tool, recovery cost support, or compensation plan. The Korea Internet & Security Agency (KISA) has been receiving victim reports since around October 28, and is preparing to provide technical support, but has not disclosed specific victim scale or incident response details. The report notes the actual scale of losses from the attacks remains unclear, and work files and backup data on enterprise NAS devices may also be impacted.
1 minutes ago
A large crypto whale closed long positions in BTC and ETH, reaping $17.78 million in profits, before opening short positions for 20,000 ETH.
According to monitoring by Tradingbeats, an address starting with 0x15a liquidated $100 million worth of BTC and ETH long positions on Hyperliquid, realizing a profit of $17.78 million. The address subsequently opened a short position of 20,000 ETH at $2,228, valued at $44.6 million. The address opened long positions of 1,000 BTC at $62,353 and 10,000 ETH at $1,762 in early July 2026, holding the positions for nearly four months.
1 minutes ago
CryptoQuant CEO: Coinbase Premium Index drops to a four-year low, market sentiment nears the level seen after the 2022 FTX collapse.
CryptoQuant CEO Ki Young Ju posted that the Coinbase Premium Index has fallen to its lowest level in four years. The last time this metric hit such a low was in November 2022, following the FTX collapse, when Bitcoin also reached a local bottom. Ki Young Ju believes that current market bearish sentiment has reached a notable level, which could instead signal a bullish turn.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
CZ: The loss gap from Binance’s attack is approximately $2 billion, and holding over $1 billion worth of SPCX stock can cover it.
CZ stated in a post that preliminary estimates put losses from Binance’s recent attack at over $6 billion, with roughly $3 billion in assets already frozen. The exchange’s SAFU Fund is valued at around $1 billion, leaving a remaining funding gap of approximately $2 billion. CZ added that Binance’s holdings of SPCX stock alone are worth over $1 billion; while the remaining gap represents a significant loss, it remains within controllable limits. Earlier, crypto analyst 0xngmi estimated the loss at roughly $1 billion, based on Binance’s total custodial assets and frozen assets, accounting for just 0.69% of the exchange’s total custodial assets. In response, CZ noted the actual loss may be slightly higher than that estimate, but Binance will cover all losses.
1 minutes ago
CZ slams Elon Musk for "inappropriate, untimely teasing", noting that Binance’s stake in SPCX is valued at over $1 billion.
Elon Musk reacted with an "awkward" emoji in discussions related to the Binance security incident. CZ responded to this, stating that while he has great respect for Musk, now is not the time for jokes and asked Musk to stop. Additionally, CZ noted that Binance invested $500 million when Musk acquired Twitter, and the SPCX shares held from this investment are now worth over $1 billion, expressing hope that Musk will provide some support.
1 minutes ago
Neuralink uses mind control to activate Grok for work, as brain-computer interfaces begin integrating with AI agents.
Beating AI Express News: Elon Musk’s brain-computer interface (BCI) firm Neuralink has unveiled a new feature—users only need to mentally utter “Hey Neuralink” and describe their desired task, and the Grok Agent will autonomously operate a computer without manual input. Neuralink engineers recently visited the home of an amyotrophic lateral sclerosis (ALS) patient, spending 72 consecutive hours developing and testing the new feature. Beyond the Grok Agent prototype, the team also rolled out automatic speech intent recognition, brain signal input, and iPhone calling capabilities. The patient can generate speech via the BCI to make calls with his wife, and even place orders at a coffee shop. Two days ago, Neuralink released early results from its speech restoration trial: an ALS patient achieved 75 English words per minute with a 5.8% word error rate in the first week of use. Musk predicts that BCI information output speed will far outpace human speech or typing rates in the coming years.
1 minutes ago
Synology NAS devices in South Korea have been struck by a ransomware attack, with hackers demanding approximately 0.037 BTC to ransom the data.
According to ChosunBiz, multiple ransomware attacks targeting Synology Network-Attached Storage (NAS) devices have recently emerged in South Korea. Attackers exploited vulnerabilities in Synology’s DiskStation Manager (DSM) system to infiltrate the devices, encrypting users’ stored photos, files and other data, with affected files appended with the “.L0CK3D” suffix. The attackers demand victims pay 0.036960 BTC (approximately $2,952, or 4 million South Korean won) within 5 days to purchase a decryption tool called “C3RB3R DECRYPTOR”; ransom will double to 0.073920 BTC (about $5,904, or 8 million South Korean won) if payment is not made by the deadline. Chinese cybersecurity firm 360 analyzed that the attackers likely exploited two DSM vulnerabilities disclosed by Synology in September this year—CVE-2026-13639 and CVE-2026-13684—to breach devices, using a ransomware variant named C3RB3R to encrypt files. Both vulnerabilities allow external attackers to read or modify files without logging in, each carrying a CVSS severity score of 9.8 out of 10. Synology stated the attacks targeted devices running outdated DSM systems, advising users to immediately upgrade to the latest version. For already infected devices, it recommended disconnecting from the network or powering off, and restoring data via prior backups or snapshots. Synology has not yet released a decryption tool, recovery cost support, or compensation plan. The Korea Internet & Security Agency (KISA) has been receiving victim reports since around October 28, and is preparing to provide technical support, but has not disclosed specific victim scale or incident response details. The report notes the actual scale of losses from the attacks remains unclear, and work files and backup data on enterprise NAS devices may also be impacted.
1 minutes ago
A large crypto whale closed long positions in BTC and ETH, reaping $17.78 million in profits, before opening short positions for 20,000 ETH.
According to monitoring by Tradingbeats, an address starting with 0x15a liquidated $100 million worth of BTC and ETH long positions on Hyperliquid, realizing a profit of $17.78 million. The address subsequently opened a short position of 20,000 ETH at $2,228, valued at $44.6 million. The address opened long positions of 1,000 BTC at $62,353 and 10,000 ETH at $1,762 in early July 2026, holding the positions for nearly four months.
1 minutes ago
CryptoQuant CEO: Coinbase Premium Index drops to a four-year low, market sentiment nears the level seen after the 2022 FTX collapse.
CryptoQuant CEO Ki Young Ju posted that the Coinbase Premium Index has fallen to its lowest level in four years. The last time this metric hit such a low was in November 2022, following the FTX collapse, when Bitcoin also reached a local bottom. Ki Young Ju believes that current market bearish sentiment has reached a notable level, which could instead signal a bullish turn.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Twilio Inc. ( TWLO ) Q3 2026 Earnings Call October 29, 2026 5:00 PM EDT Company Participants Rodney Nelson - Vice President of Investor Relations Khozema Shipchandler - CEO & Director Aidan Viggiano - Chief Financial Officer Thomas Wyatt - Chief Operating Officer Conference Call Participants Elizabeth Elliott - Morgan Stanley, Research Division Aleksandr Zukin - Wolfe Research, LLC Taylor McGinnis - UBS Investment Bank, Research Division Samad Samana - Jefferies LLC, Research Division Samik Chatterjee - JPMorgan Chase & Co, Research Division Ittai Kidron - Oppenheimer & Co. Inc., Research Division Carolyn Valenti - Goldman Sachs Group, Inc., Research Division Sitikantha Panigrahi - Mizuho Securities USA LLC, Research Division Arjun Bhatia - William Blair & Company L.L.C., Research Division Nicholas Altmann - BTIG, LLC, Research Division Koji Ikeda - BofA Securities, Research Division Ryan MacWilliams - Wells Fargo Securities, LLC, Research Division James Wood - TD Cowen, Research Division J.
Flare’s inclusion comes as it expands its DeFi services for XRP holders.
The XRP Ledger Foundation has added Flare Networks to its recommended validator list, recognizing the project’s role in the network’s infrastructure.
In a recent post on X, the Foundation said Flare aligns with the XRP Ledger’s core values and actively participates in its governance. It also acknowledged the project’s contributions to the wider ecosystem.
What the Validator Changes Mean for the XRP Ledger The Foundation also removed Anodos Finance after the project requested its removal ahead of a planned validator shutdown by the end of October. It thanked the team for its contributions and cooperation with the XRP community.
Following these changes, the Foundation’s recommended list and Ripple’s corresponding list contain 35 matching validator keys. Both lists also include a validator manifest linked to a domain associated with Flare.
These recommended lists help server operators decide which validators to trust when configuring their Unique Node Lists (UNLs). A UNL identifies the validators a server relies on to reach agreement on new ledgers.
Beyond reaching consensus, validators also support network governance by voting on protocol amendments that change how the XRP Ledger operates. An amendment requires more than 80% support from trusted validators over two consecutive weeks to activate.
Flare’s Role in the XRP Ledger Flare thanked the XRP Ledger Foundation and those who reviewed its application in a public response. The addition comes as the project develops services that connect XRP holders with decentralized finance applications.
You may also like: XRP, HYPE, and ENA Levels to Watch Before the Fed Meets Today: Analyst 4 Important Ripple (XRP) Announcements From Swell 2026 Day 0 XRP Whales Now Control 68.5% of Supply, Highest Level Since 2022 These services include FXRP, which uses the FAssets system to bring XRP onto Flare, and Flare Smart Accounts. The latter allows users to access applications on Flare through XRPL wallets without transferring custody of their assets to a third party.
However, joining the recommended list does not automatically change every XRP Ledger server’s configuration. Server operators can still maintain custom Unique Node Lists (UNLs) rather than follow the Foundation’s or Ripple’s recommendations.
Validators also receive no XRP rewards directly from the protocol for participating in consensus. Instead, their role involves helping maintain network reliability and supporting decisions on protocol changes, without direct financial incentives from the ledger itself.
