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HBSS Alerts Roblox Corporation (RBLX) Investors to Expanded Class Period; Lead Plaintiff Deadline Remains August 7, 2026 PR New

Americký farmaceutický gigant Eli Lilly oddálil termín podání žádosti o schválení retatrutidu, nové generace léku na obezitu. Zatímco dříve firma počítala s možností předložit registraci už letos, tak nyní očekává podání dokumentace v prvním čtvrtletí příštího roku. Důvodem je potřeba dokončit shromažďování a ověřování výrobních a kvalitativních dat, která požadují regulační úřady.

Odklad přichází navzdory tomu, že retatrutid dosáhl pozitivních výsledků ve dvou dalších klinických studiích třetí fáze. Podle společnosti léčba vedla k výraznému úbytku hmotnosti i zlepšení kontroly hladiny krevního cukru u pacientů s obezitou a závažnými přidruženými onemocněními, včetně diabetu 2. typu a kardiovaskulárních chorob.

V jedné ze studií dosáhli pacienti, kteří trpí obezitou a diabetem 2. typu, po 80 týdnech léčby průměrného snížení tělesné hmotnosti až o 20,8 procenta, což odpovídá přibližně 23 kilogramům. Právě tato skupina pacientů přitom obvykle mívá s hubnutím největší problémy, upozorňuje server CNBC.

Druhá studie sledovala osoby s těžkou obezitou a potvrzeným kardiovaskulárním onemocněním, ať už s diabetem či bez něj. V této skupině vedla léčba k průměrnému úbytku hmotnosti až o 22,6 procenta neboli o více než 25 kilogramů během 80 týdnů. Eli Lilly zároveň uvedla, že přípravek příznivě ovlivnil vybrané rizikové faktory související s kardiovaskulárními onemocněními.

Bezpečnostní profil přípravku podávaného injekčně jednou týdně podle společnosti odpovídá předchozím studiím. Nejčastěji hlášenými nežádoucími účinky byly průjem, nevolnost a zácpa. Jde o vedlejší účinky běžně spojované s celou skupinou léků založených na působení hormonů GLP-1.

Trojitý agonista

Retatrutid funguje jako trojitý agonista receptorů GLP-1, GIP a glukagonu, což je rozdíl oproti současné generaci léků založených na látce tirzepatid (GLP-1 a GIP), kterou obsahují léky Mounjaro a Zepbound. Právě kombinace hned tří mechanismů by podle dosavadních dat mohla přinášet výraznější účinek na regulaci chuti k jídlu i pocit nasycení než momentálně dostupné terapie.

Pro Eli Lilly představuje retatrutid klíčový přípravek ve snaze udržet si většinu tržního podílu před dánským konkurentem Novo Nordiskem na rostoucím trhu s léky na hubnutí a diabetes.

Analytici společnosti TD Cowen letos odhadli, že roční tržby retatrutidu by mohly do roku 2030 dosáhnout přibližně 3,8 miliardy dolarů.

New York, New York--(Newsfile Corp. - July 23, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Zoetis Inc. (NYSE: ZTS) between January 14, 2025 and May 6, 2026, inclusive (the "Class Period"), of the important July 27, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Zoetis securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Zoetis class action, go to https://rosenlegal.com/cases/zoetis-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 27, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and touted growing market share, strong veterinarian adoption, and accelerating sales growth across Zoetis' flagship Companion Animal products and/or failed to disclose that: (1) veterinarian prescription growth and adoption of Zoetis' Librela, a canine pain treatment, were sharply weakening as clinicians became more cautious following FDA safety warnings concerning serious neurological complications in dogs; (2) Zoetis' Simparica Trio was losing significant market share to a lower priced competing canine parasiticide with broader indicated use in a slowing overall market; and (3) Zoetis' dermatology products, Apoquel and Cytopoint, were losing substantial market share to a newly launched competing canine treatment. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Zoetis class action, go to https://rosenlegal.com/cases/zoetis-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306332

Source: The Rosen Law Firm PA

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The 3 Biggest M&A Stock Opportunities for 2025United Rentals NYSE: URI reported record second-quarter revenue and earnings while raising its 2026 outlook, as management said large projects and specialty rental demand continued to run ahead of expectations.

President and CEO Matt Flannery said the company’s growth “accelerated in the quarter,” supported by customers that “remain optimistic, particularly around large projects,” along with continued cost discipline. He said the company’s equipment breadth, technology, service levels and safety focus continue to differentiate United Rentals in the market.

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3 large caps near 52-week lows with large dividendsTotal revenue rose 12% year over year to $4.4 billion, while rental revenue increased nearly 13% to $3.8 billion. Both were quarterly records, according to Flannery. Adjusted EBITDA was just over $2 billion, representing a margin of 46.6%, and adjusted earnings per share were $12.76, up 22% from a year earlier and also a quarterly record.

Large Projects and Specialty Rentals Drive Growth Flannery said United Rentals saw growth in both its General Rentals and specialty businesses. Specialty rental revenue increased 25% year over year, with growth across all lines of business and 11 cold starts during the quarter.

3 Compelling Cyclical Stocks to Buy NowBy vertical, Flannery said construction posted strong growth, led by nonresidential and infrastructure activity. On the industrial side, power continued to deliver double-digit growth, while metals and minerals also grew at a healthy pace. He said project activity started in a range of end markets, including hospitals, airports and LNG terminals, while data centers remained a source of growth.

During the question-and-answer portion of the call, Flannery said the major project pipeline was “stronger and deeper,” citing activity tied to power, semiconductor projects, infrastructure, airports, stadiums and pharmaceuticals. He also said semiconductor-related work and power projects accelerated in the second quarter.

Local markets, by contrast, were described as stable with modest growth. Flannery said local customer activity grew in the low single digits and suggested that lower interest rates, residential construction growth and renewed small-business investment could help spur broader local market improvement.

Fleet Productivity, CapEx and Used Equipment Sales Fleet productivity contributed 3.4% to original equipment rental, or OER, growth of 9% in the quarter, Flannery said. CFO Ted Grace said OER increased by $246 million, driven by 7.1% growth in average fleet size and fleet productivity of 3.4%, partially offset by assumed fleet inflation of 1.5%.

Ancillary and re-rent revenue grew nearly 28%, adding a combined $188 million, Grace said. He noted that the company has been able to pass through higher fuel and delivery costs, though those revenues brought limited incremental margin dollars.

United Rentals sold $624 million of original equipment cost, or OEC, in the used market during the quarter, generating $330 million in proceeds, an adjusted margin of 47.3% and a 52.9% recovery rate. Flannery said the company remains on track to sell approximately $2.8 billion of fleet this year, supported by strong used equipment demand.

The company spent nearly $2.1 billion on gross rental capital expenditures in the second quarter and $2.9 billion year to date, exceeding its initial expectations. Flannery said the demand environment is outpacing the company’s original expectations, and the company is operating at “historically high time utilizations.”

In response to analyst questions, Flannery said United Rentals would not add fleet simply to chase late-2026 revenue. He said the company has confidence in the large project pipeline carrying into next year, though management did not provide 2027 guidance.

Margins and Cost Controls Remain in Focus Grace said adjusted EBITDA, excluding a $49 million net benefit from the sale of the company’s scaffolding business, increased $197 million year over year to a second-quarter record of just over $2 billion. The increase was primarily driven by a $231 million increase in rental gross profit and a $3 million increase in used gross profit. Selling, general and administrative expense rose $39 million but was flat as a percentage of revenue.

On an as-reported basis, second-quarter adjusted EBITDA margin increased 70 basis points year over year. Excluding the scaffolding gain and the outsized growth in ancillary and re-rent revenue, Grace said margins increased 40 basis points year over year, which he said provided a better view of core cost performance.

Management fielded several analyst questions about delivery, repositioning, labor and repair costs. Grace said the company’s core cost categories of labor, delivery and repair and maintenance showed positive absorption year to date and in the second quarter. Flannery said the company has changed processes and increased coordination to better manage delivery and repositioning costs, despite higher fuel costs.

Grace said higher internal fuel costs represented an incremental 20 to 30 basis points of year-over-year headwind in the quarter. He also said the company realized approximately $12 million of second-quarter benefit from restructuring activities and remains on track for $45 million to $50 million of realized savings in 2026.

Guidance Raised for 2026 United Rentals raised its full-year 2026 guidance, with management saying demand continued to exceed expectations as the company progressed through its busy season.

Total revenue: Now expected between $17.5 billion and $17.8 billion, up $500 million from prior guidance. Adjusted EBITDA: Raised by $300 million to a range of $7.975 billion to $8.125 billion. Gross rental CapEx: Increased by $450 million to a range of $4.85 billion to $5.25 billion. Net CapEx: Expected between $3.4 billion and $3.8 billion. Free cash flow: Reaffirmed at $2.15 billion to $2.45 billion. Used equipment sales: Still expected around $1.45 billion. Grace said the updated outlook implies full-year growth excluding used sales of more than 10% at the midpoint, compared with original guidance closer to 6%. He said the company still expects to maintain flat margins year over year while bringing revenue growth to the bottom line.

Balance Sheet and Capital Returns United Rentals generated nearly $1.2 billion of free cash flow year to date after funding growth, according to Flannery. Grace said return on invested capital was 11.8%, remaining above the company’s weighted average cost of capital.

Net leverage was 1.8 times at the end of June, within the company’s target range of 1.5 times to 2.5 times, and total liquidity was nearly $3 billion. Grace said S&P recently raised the company’s credit outlook to positive from stable, with the potential for an upgrade from high yield to investment grade within the next 12 months.

Grace said a potential investment-grade rating would not change United Rentals’ capital allocation strategy, adding that management believes the company can pursue an upgrade without constraining its ability to execute on mergers and acquisitions.

The company returned nearly $500 million to shareholders during the quarter through share repurchases and dividends. Year to date, it has returned $998 million, including $750 million through repurchases and $248 million through dividends. Grace said United Rentals still intends to repurchase $1.5 billion of shares in 2026, and combined with the dividend, expects to return roughly $2 billion to shareholders this year.

Flannery said the M&A pipeline remains “robust,” with opportunities across deal sizes. He said specialty rental offerings and new product areas remain priorities, while the company also continues to evaluate deals that could fill geographic or product gaps.

About United Rentals (NYSE:URI)United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

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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The logo of Malaysian energy group National Petroleum Limited, commonly known as PETRONAS, is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia,... Purchase Licensing Rights, opens new tab Read more

CompaniesJAKARTA, July 24 (Reuters) - Searah, the joint venture energy company formed by Italy's Eni and Malaysia's Petronas, has started ​developing a floating gas facility to process ‌gas from its $11.8 billion North Hub project in Indonesia, the Indonesian government said.

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The company held a first steel cutting ceremony on ​Thursday to kickstart the construction of the Floating Production, Storage, ​and Offloading (FPSO) vessel, which will be a processing hub for ⁠16 wells from the Geng North and Gehem ​gas fields, the Energy and Mineral Resources Ministry ​said.

The two gas fields make up Searah's North Hub project in Indonesia's Kutai Basin, off Borneo island. The project is ​targeted to start production in 2028, the ministry said ​in a statement late on Thursday.

Production is expected to reach 1 billion ‌cubic ⁠feet of gas per day and 80,000 barrels of condensate per day by the fourth quarter of 2028.

Of the total $11.8 billion investment in the project, around $2.9 ​billion was ​allocated to ⁠develop the FPSO, Djoko Siswanto, head of the upstream oil and gas regulator ​SKK Migas, said in the same statement.

"Today's ​achievement ⁠demonstrates our continued confidence in Indonesia's energy sector, as well as our long-term commitment to continue investing, ⁠growing, ​and creating value in this ​country," Mirko Araldi, an executive of Eni North Ganal Ltd, was quoted ​as saying.

Reporting by Fransiska Nangoy; Editing by David Stanway

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

If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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New York, New York--(Newsfile Corp. - July 23, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

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

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.

On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.

Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.

On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.

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

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

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

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Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:

What is the PicS N.V. securities fraud lawsuit about?

The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 — a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 — well below the $19.00 IPO price — causing significant losses for investors.

Who may be eligible to participate in the PicS N.V. class action lawsuit?

Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.

What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?

A lead plaintiff in the PicS N.V. class action is a court-appointed investor — typically the one with the largest financial interest in the case — who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.

What should investors do if they purchased PicS N.V. stock in the IPO?

Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306126

Source: Faruqi & Faruqi LLP

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On July 23, 2026, Advance Auto Parts Inc (AAP) shares fell 3.7%, closing at $53.42. This price is situated within a 52-week range of $37.89 to $70.00. The recen

Harbour BioMed Announces Positive Profit Alert for 2026 Interim Results, Marking Seventh Consecutive Profitable Half-Year as Platform-Based Adv

Defense Earnings Show Readiness Now and Modernization AheadRyder System NYSE: R reported its seventh consecutive quarter of comparable earnings-per-share growth, with management pointing to contractual revenue, strategic initiatives and improving used vehicle sales as the main contributors to second-quarter 2026 results.

Chief Executive Officer John Diez said Ryder’s “transformed model” continued to outperform prior cycles, supported by a shift toward less capital-intensive businesses and long-term customer contracts. He said more than 90% of Ryder’s revenue is generated through long-term contracts, which management views as a key factor in the company’s resilience during the freight cycle.

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Prepare for the Next Wave of Factory Automation With These 3 Standout Names“The Ryder team delivered our seventh consecutive quarter of comparable EPS growth,” Diez said. “Solid results were primarily driven by consistent execution on our strategic initiatives. Improving market conditions and used vehicle sales also contributed to our higher results.”

For the quarter, Ryder posted total operating revenue of $2.7 billion, up 3% from the prior year. Comparable earnings per share from continuing operations were $3.73, up 12% year over year. Return on equity was 17%, in line with the prior year. Free cash flow rose to $684 million from $461 million, which Executive Vice President and Chief Financial Officer Cristy Gallo-Aquino attributed to lower capital expenditures.

Fleet Management Leads Earnings Growth CEOs Sell Millions Worth of These 3 Big Name Stocks—What It Means for InvestorsFleet Management Solutions was the primary driver of higher earnings in the quarter. The segment’s operating revenue increased, reflecting contractual revenue growth, partially offset by lower rental demand. Earnings before taxes rose 20% from the prior year to $150 million.

Gallo-Aquino said the improvement reflected benefits from strategic initiatives in the ChoiceLease business, along with strengthening used vehicle market conditions. Fleet Management EBT as a percentage of operating revenue was 11.5%, up from a year earlier but still below Ryder’s long-term target of the low teens over the cycle.

Rental utilization returned to Ryder’s targeted level of 75% on a 15% smaller average fleet. Gallo-Aquino said demand remained below the prior year and historical seasonal trends, but the quarter represented the strongest sequential increase in four years. Rental pricing increased 1% from the prior year.

Used vehicle sales showed improvement as well. Year-over-year used tractor pricing increased 3%, while truck pricing rose 6%. Sequentially, overall pricing was stable, but retail pricing improved 7% for trucks and 3% for tractors. Ryder sold 5,100 used vehicles in the quarter, up 500 units sequentially but down 1,100 units from a year earlier, largely reflecting elevated wholesaling activity in the prior year. Used vehicle inventory declined to 8,500 vehicles, within Ryder’s target range.

Supply Chain and Dedicated Results Mixed Supply Chain Solutions operating revenue increased 7%, driven by new business, partially offset by lost business in automotive. Segment earnings before taxes declined 7% year over year, which Ryder attributed to lower automotive results and, to a lesser extent, productivity issues tied to new business ramp-ups. Benefits from optimization of the company’s omni-channel retail network partially offset those pressures.

Supply Chain EBT as a percentage of operating revenue was 8.4%, which management said was at the segment’s long-term high-single-digit target. Gallo-Aquino noted that comparisons were challenging because the prior-year quarter included record results.

Dedicated Transportation Solutions operating revenue declined 3% due to a lower fleet count, partially offset by higher pricing. Earnings before taxes were lower than a year ago, reflecting reduced operating revenue and adverse development of prior-year insurance claims, partly offset by strategic initiative benefits. Dedicated EBT as a percentage of operating revenue was 7.9%, also at the segment’s long-term high-single-digit target.

Guidance Raised on Used Vehicle Outlook Ryder raised the low end of its full-year 2026 comparable EPS forecast to $14.40 from $14.05, while keeping the high end at $14.80. Diez said the increase largely reflected an improved outlook and reduced downside in used vehicle sales. Ryder now expects used vehicle sales gains of about $40 million for the full year, up $10 million from its prior forecast.

That benefit is expected to be partially offset by the timing of new business onboarding in Supply Chain. Ryder also revised its 2026 return on equity forecast to 18%, compared with its prior range of 17% to 18%. The company maintained its free cash flow forecast of $700 million to $800 million. For the third quarter, Ryder forecast comparable EPS of $4.00 to $4.20, above the prior-year result of $3.57.

Diez said Ryder remains on track to deliver $70 million in incremental benefits from strategic initiatives in 2026. Those initiatives are part of a $170 million multi-year program launched in 2024 and include lease pricing, maintenance cost savings, Dedicated margin improvement actions and Supply Chain network optimization.

Management also said Ryder could benefit meaningfully from a freight cycle upturn. By the next cycle peak, Ryder estimates a potential $250 million benefit, primarily from rental and used vehicle sales recovery in Fleet Management, with additional benefits from higher omni-channel retail volumes.

Capital Spending and Shareholder Returns Year-to-date lease capital spending was $605 million, below the prior year due to timing of replacement activity. Ryder expects full-year 2026 lease spending of $1.9 billion and rental spending of $200 million. Total capital expenditures are forecast at approximately $2.4 billion, with net capital expenditures expected to be about $1.9 billion after roughly $500 million in proceeds from used vehicle sales.

Gallo-Aquino said Ryder’s contractual base is generating higher earnings and cash flow, helping reduce leverage and create additional debt capacity. Over a three-year period, Ryder expects to generate about $10.5 billion from operating cash flow and used vehicle sales proceeds, creating approximately $14 billion available for capital deployment when incremental debt capacity is included.

The company estimates that about $9.5 billion will be used for lease and rental replacement vehicles and dividends, leaving around $4.5 billion for flexible deployment to support growth, acquisitions, investments and share repurchases. Ryder returned $406 million to shareholders through buybacks and dividends year to date. The board also authorized a new discretionary 2 million share repurchase program and approved an 11% increase to the quarterly dividend, marking the fourth consecutive year of a double-digit dividend increase.

Management Sees Strong Sales Pipelines During the question-and-answer session, management said sales activity remained strong across the business. Diez said Fleet Management had seen two consecutive quarters of positive net sales, with fleet growth expected to improve toward the end of 2026 and into 2027. Tom Havens, President of Fleet Management Solutions, said the lag between sales and fleet additions reflects the time required to order and place vehicles into service.

In Dedicated, Diez said record pipelines reflected customer interest in outsourced capacity as the trucking market tightens. He cited rising costs, tighter driver capacity and higher insurance costs as trends supporting the Dedicated business.

Analysts also asked about competition in Supply Chain, including Amazon’s logistics offerings. Diez said Ryder had not seen an impact on its sales pipeline. Steve Sensing, President of Supply Chain Solutions and Dedicated Transportation Solutions, said Ryder had not yet encountered Amazon in requests for quotes and emphasized that Ryder’s Supply Chain solutions are typically customized, dedicated operations for individual customers.

Diez said freight market conditions are improving, but remain below normalized levels, with geopolitical and macroeconomic factors still affecting the pace and durability of recovery.

About Ryder System (NYSE:R)Ryder System, Inc is a leading provider of transportation and supply chain management solutions, serving commercial customers across a range of industries. The company's Fleet Management Solutions segment offers full-service leasing and rental of medium- and heavy-duty trucks, tractors and trailers, along with maintenance and repair services at its network of service locations. Its Supply Chain Solutions segment provides integrated, technology-driven offerings that span managed transportation, dedicated contract carriage, warehousing and distribution, and e-commerce fulfillment.

Founded in 1933 and headquartered in Miami, Florida, Ryder has grown from a regional truck leasing operation into a diversified, global logistics provider.

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

If you purchased or acquired securities in Verra between February 24, 2026 and May 26, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - July 23, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Verra Mobility Corporation ("Verra" or the "Company") (NASDAQ: VRRM) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

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

According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Verra's relationship with Avis Budget Group ("Avis"), and in particular obtaining a contract extension with Avis. Further, the Company minimized concerns that major rent-a-cars could replace Verra with in-house solutions or outsourced alternatives.

On May 26, 2026, Verra issued a press release announcing a termination notice from Avis regarding its contract and accordingly lowered its 2026 full-year financial outlook. Almost one week later on June 1, 2026, the Company announced a sudden and surprising transition of its President and Chief Executive Officer David Roberts. Following this news, the price of Verra's common stock declined dramatically.

From a closing market price of $13.08 per share on May 26, 2026, Verra's stock price fell to $3.85 per share on May 27, 2026, a decline of about 71%.

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

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

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

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Frequently Asked Questions (FAQ) for Investors Regarding the Verra Mobility Securities Class Action Lawsuit:

What is the Verra Mobility securities fraud lawsuit about?

The lawsuit alleges Verra Mobility misled investors about the strength of its relationship with Avis Budget Group, the likelihood of a contract extension, and the risk that major rental car companies could replace Verra's services with alternative solutions.

Who may be eligible to participate in the lawsuit?

Investors who purchased or acquired Verra Mobility (NASDAQ: VRRM) securities between February 24, 2026 and May 26, 2026 may be eligible to participate if they suffered losses related to the alleged misconduct described in the complaint.

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

A lead plaintiff represents the interests of the proposed class and helps oversee the litigation. Investors seeking appointment must file a motion with the court by August 4, 2026. Investors can share in any recovery without serving as lead plaintiff.

What should investors do if they purchased Verra Mobility stock during the Class Period?

Investors should review their transaction records, preserve relevant documents, and evaluate their legal rights. Those who suffered losses may wish to consult counsel regarding participation in the lawsuit or seeking lead plaintiff status before the deadline.

Why should investors contact Faruqi & Faruqi, LLP?

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306120

Source: Faruqi & Faruqi LLP

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MaxLinear, Inc. (MXL) Q2 2026 Earnings Call Transcript

RingCentral’s Cash Flow Hit a Record—And It’s Fueling Bigger ReturnsRingCentral NYSE: RNG reported second-quarter 2026 results that exceeded the high end of its guidance across revenue, operating margin and free cash flow metrics, while management highlighted growing adoption of its artificial intelligence products and announced an increase to the company’s quarterly dividend.

Founder, Chairman and CEO Vlad Shmunis said the company’s performance reflected a multi-year effort to improve profitability and cash generation while repositioning RingCentral around “agentic voice AI.” He said the company is seeking to become an “intelligence layer” where AI agents and human agents work together to manage customer interactions.

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It's RingCentral NYSE: RNG You Want In Your 2021 Portfolio, Not Zoom NASDAQ: ZM“We delivered another strong quarter, exceeding the high end of guidance across all key metrics,” Shmunis said. He added that total revenue, subscription revenue, GAAP operating margin and non-GAAP operating margin all surpassed expectations.

Revenue and Profitability Top Guidance CFO Vaibhav Agarwal said total revenue in the quarter was approximately $657 million, up 5.9% year over year. Subscription revenue was approximately $634 million, up 5.8% from the prior year. Both measures came in above the high end of the company’s guidance.

Agarwal said customer trends remained healthy, citing steady new customer additions and monthly net retention above 99%. He said the company’s recurring revenue model continues to be supported by the “mission-critical role” RingCentral’s platform plays for customers.

RingCentral also expanded profitability in the quarter. Subscription gross margin remained above 80%, while non-GAAP operating margin reached 23.4%, up nearly 90 basis points year over year and above guidance. GAAP operating margin was 7.7%, improving by more than 170 basis points from the year-ago period.

Stock-based compensation as a percentage of revenue declined about 150 basis points year over year to 9% in the second quarter. Agarwal said RingCentral remains on track for stock-based compensation to be approximately 9% of revenue in 2026, down 180 basis points from 2025.

Free Cash Flow Outlook Raised, Dividend Increased RingCentral generated $180 million of free cash flow in the quarter, up 25% year over year. Agarwal attributed the increase to operating performance, efficiency gains and working capital improvements, including certain one-time benefits from customer and partner prepayments.

The company raised its full-year free cash flow outlook to a midpoint of $620 million, or more than 23% of revenue. For the full year, RingCentral now expects free cash flow per share of $7.07 to $7.23, up 23% year over year.

Management also announced that RingCentral’s board approved an increase in the quarterly dividend to $0.125 per share. Agarwal said the dividend increase reflects confidence in the company’s cash flow durability and is part of a balanced capital allocation strategy that also includes investment in innovation, debt reduction and share repurchases.

During the quarter, RingCentral reduced overall debt by approximately $85 million and lowered net leverage to 1.5 times. In the first half of 2026, the company reduced gross debt by about $130 million. Management said RingCentral remains on track to reduce gross debt to $1 billion by the end of 2026. Agarwal also noted that the company has no maturities until 2030 and maintains $355 million of undrawn credit capacity.

RingCentral repurchased approximately 2.2 million shares during the quarter for about $94 million. At quarter-end, approximately $326 million remained under the company’s repurchase authorization. Diluted share count declined 6% year over year to roughly 87 million shares.

AI Products Drive Customer Expansion Executives emphasized AI adoption as a key theme of the quarter. Shmunis said annual recurring revenue from customers using at least one of RingCentral’s native paid AI products now represents about 13% of ARR, doubling year over year. He said those customers have net retention “well above 100%” and meaningfully higher average revenue per user than the rest of the customer base.

RingCentral ended the second quarter with more than 16,000 paying AIR, or AI Receptionist, customers, up 400% year over year. ACE, the company’s AI Conversation Expert product, had more than 6,300 customers, growing more than 70% year over year. ARR from AI-led new products grew nearly 60% during the first half of the year, according to Shmunis.

President and COO Kira Makagon said customers accelerated adoption of RingCentral AI during the quarter. She cited VGM Group, a national post-acute healthcare organization, which deployed RingCentral’s AIR, AVA and ACE products on top of RingEX. Makagon said AIR recovered 45% of calls previously lost to abandonment for that customer, AVA eliminated manual note-taking and ACE provided call visibility and coaching.

Makagon said AIR has been enhanced with spam blocking filters and lead capture capabilities that sync with Salesforce, HubSpot and Zoho. Based on a recent customer survey, she said AIR customers reduced missed call rates from an average of 20% to close to zero.

RingCentral’s Customer Engagement Bundle, or CEB, also saw growth. Shmunis said CEB now serves more than 9,600 customers and grew more than 80% sequentially. The bundle adds lightweight contact center features to RingEX, including call queues, shared SMS inboxes and analytics.

Partnerships With NiCE and Avaya Updated RingCentral announced an expanded partnership with NiCE under which NiCE will begin marketing and selling RingEX in combination with CXone, while RingCentral continues to offer NiCE CXone to its customers. Shmunis described the arrangement as a “symmetrical, mutually reinforcing partnership” between the two companies.

In response to an analyst question, Shmunis said the expanded NiCE relationship could give RingCentral access to NiCE’s enterprise customer base, where NiCE has a strong position in contact center software. He said RingCentral Contact Center powered by NiCE has historically been more mid-market by logo count, while NiCE has large enterprise accounts.

RingCentral also said it restructured its relationship with Avaya. Shmunis said RingCentral will remain Avaya’s exclusive multi-tenant cloud UCaaS offering, while existing Avaya Cloud Office customers and partners will transition directly to the RingCentral platform and brand.

Full-Year Guidance Raised For fiscal 2026, RingCentral raised its subscription revenue outlook to $2.55 billion to $2.561 billion, representing growth of 5.1% to 5.5%. Total revenue is now expected to be $2.635 billion to $2.646 billion, representing growth of 4.8% to 5.2%.

The company expects full-year GAAP operating margin of 9% to 9.7%, non-GAAP operating margin of approximately 23.6% to 24%, and non-GAAP earnings per share of $4.96 to $5.10. RingCentral also said it now expects to reach its 20% GAAP operating margin target within two to three years, one year ahead of its prior schedule.

For the third quarter, RingCentral guided for subscription revenue of $643 million to $649 million and total revenue of $664 million to $670 million. The company expects third-quarter GAAP operating margin of 7.2% to 8.6%, non-GAAP operating margin of 23.5% to 24%, and non-GAAP earnings per share of $1.25 to $1.30.

Management said AI adoption, margin expansion and free cash flow generation remain central to RingCentral’s strategy. “We believe RingCentral is well-positioned to continue compounding shareholder value,” Agarwal said.

About RingCentral (NYSE:RNG)RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.

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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The average public school teacher with 20-plus years of experience often earns in the $75,000 to $95,000 range, and $85,000 is a common target for a 55-year-old educator planning the switch from paycheck to portfolio. Replacing that gross number through investment income depends on one variable: yield. The capital required swings by more than a million dollars depending on where on the risk spectrum the portfolio sits.

With the 10-year Treasury near 5% and the Fed funds upper bound near 4%, dividend equities have to work harder to justify their risk. Here is how the math actually plays out across three yield tiers.

The Conservative Tier: 3% to 4% Yield At 3.5%, replacing $85,000 requires $2,428,571. At 4%, it drops to $2,125,000. This is dividend growth territory: broad dividend ETFs, utility ETFs, dividend aristocrat funds, and blue-chip regulated utilities.

Alliant Energy (NASDAQ:LNT | LNT Price Prediction) is the archetype. The regulated utility raised its quarterly payout from $0.5075 to $0.535 this year, pushing the annualized forward dividend to $2.14. Shares trade near $74, so the current yield sits near 2.8%, with a 23 PE and steady rate-base growth from data center demand in Iowa and Wisconsin.

Casey’s General Stores (NASDAQ:CASY) shows the compounding side. The convenience store chain just raised its quarterly dividend from $0.57 to $0.65, and shares are up 64% over the past year. The yield is under 1%, but the payout has risen from $0.24 quarterly in 2016 to $0.65 today. That trajectory is the entire point of the low-yield tier.

The Moderate Tier: 5% to 7% Yield At 6%, the required nest egg is $1,416,667. At 7%, it drops to $1,214,286. This tier draws from covered call ETFs (DIVO, SPYI, JEPQ, GPIQ), preferred share funds, REIT ETFs, and higher-payout regional banks.

East West Bancorp (NASDAQ:EWBC) sits on the growth edge of this tier. The bank hiked its quarterly dividend from $0.60 to $0.80 this year, delivered $9.87 in trailing EPS at a 13 PE, and posted quarterly earnings growth of 17% year over year. Layering covered calls on positions like EWBC or CASY can push blended yield toward the 6% to 8% range, though the strategy caps upside when shares run.

The Aggressive Tier: 8% to 14% Yield At 10%, $850,000 covers the salary. At 12%, $708,333 does. Mortgage REITs, business development companies, high-yield bond funds, and leveraged covered call funds populate this range.

AGNC Investment (NASDAQ:AGNC) illustrates both the appeal and the trap. The monthly distribution is $0.12 per share, or $1.44 annualized, on a stock trading near $11. That is a headline yield above 13%. But AGNC has cut the payout three times since 2016, including a 25% reduction in 2020, and the historical progression from $1.40 quarterly in 2010 to $0.12 monthly today tells the story of principal erosion.

The Compounding Insight A portfolio yielding 3.5% that grows its dividend 8% annually roughly doubles income in nine years. Casey’s did exactly this: the quarterly payout roughly tripled from 2016 to 2026. A 12% mREIT yield with no growth stays flat at best and shrinks at worst. For a 55-year-old with a decade until Medicare, the tier choice is really a choice between growing income and static income.

Silicon Motion (NASDAQ:SIMO) demonstrates the opposite pole. The NAND controller maker pays $2.00 annually against a $278 share price: a sub-1% yield. Its 299% one-year gain is a growth story, not an income vehicle.

Three Moves for the Teacher Subtract the teacher pension and projected Social Security from $85,000. Many state pensions replace 40% to 60% of final salary, which can cut the gap the portfolio needs to fill by half or more. Model the tax bite tier by tier. Qualified dividends from LNT or EWBC are taxed at long-term capital gains rates, while covered call ETF distributions and mREIT payouts often flow through as ordinary income. Compare 10-year total return between a dividend growth fund and a high-yield covered call fund. With CPI at 332.6 in June 2026, only growing income keeps real purchasing power intact. Contact [email protected] for any questions or corrections.

Cleveland-Cliffs (CLF - Free Report) reported $5.23 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 5.9%. EPS of -$0.20 for the same period compares to -$0.50 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $5.13 billion, representing a surprise of +1.88%. The company delivered an EPS surprise of +4.76%, with the consensus EPS estimate being -$0.21.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Cleveland-Cliffs performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

External Sales Volumes - Total steel Products: 4,025.00 KTon versus 4,105.28 KTon estimated by three analysts on average.Average net selling price per net ton of steel products: $1,124.00 versus the three-analyst average estimate of $1,109.49.Steel shipments by product - Coated steel: 1,240.00 KTon compared to the 1,269.08 KTon average estimate based on two analysts.Steel shipments by product - Plate: 172.00 KTon versus the two-analyst average estimate of 203.05 KTon.Revenues- Other Businesses: $174 million versus $170.67 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.8% change.Revenues- Steelmaking: $5.05 billion compared to the $4.99 billion average estimate based on three analysts. The reported number represents a change of +5.9% year over year.Revenues- Steelmaking- Stainless and electrical steel: $525 million versus the two-analyst average estimate of $424.94 million. The reported number represents a year-over-year change of +21%.Revenues- Steelmaking- Plate steel: $253 million versus the two-analyst average estimate of $282.19 million. The reported number represents a year-over-year change of -8%.Revenues- Steelmaking- Other: $527 million versus the two-analyst average estimate of $418 million. The reported number represents a year-over-year change of +26.4%.Revenues- Steelmaking- Cold-rolled steel: $660 million versus the two-analyst average estimate of $708.3 million. The reported number represents a year-over-year change of +2.3%.Revenues- Steelmaking- Hot-rolled steel: $1.54 billion versus $1.53 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +15.5% change.Revenues- Steelmaking- Coated steel: $1.53 billion compared to the $1.55 billion average estimate based on two analysts. The reported number represents a change of +10.1% year over year.View all Key Company Metrics for Cleveland-Cliffs here>>>

Shares of Cleveland-Cliffs have returned -10.6% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

Is Consumer Discretionary a Dead End? These 3 Stocks Say NoSL Green Realty NYSE: SLG raised its 2026 funds from operations guidance sharply after what management described as a strong first half of the year, citing stronger leasing, improved economic occupancy, expense control and a recurring contribution tied to One Vanderbilt.

On the company’s Q2 2026 earnings call, Chairman and Chief Executive Officer Marc Holliday said leasing gains made over the past several years are now showing up in the company’s financial results. He said economic occupancy rose 300 basis points during the quarter as concessions burned off and vacancy declined.

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Are Dividend-Paying Office REITs Finally Staging A Comeback?“Much of what we predicted at our investor conference in December is now playing out in ways that directly drive earnings and improves cash flow,” Holliday said. He added that the company expects to exceed its leasing goals for the year, though management said it was too early to reforecast the exact magnitude.

FFO Guidance Raised by $1.20 Per Share Chief Financial Officer Matt DiLiberto said SL Green increased its 2026 FFO guidance by $1.20 per share, or more than 26%, with “the vast majority” of the increase recurring. He attributed $0.20 per share of incremental FFO to the real estate portfolio, including benefits from early renewals, leasing of pre-built space, faster delivery of space to tenants and expense containment. DiLiberto said $0.10 of that amount was recognized in the second quarter.

These 3 Top-Rated Small Caps May Be Undervalued BargainsAnother $0.20 per share is expected from additional fee and other income tied to execution of the company’s 2026 business plan over the remainder of the year.

The largest component of the guidance increase, however, came from One Vanderbilt. DiLiberto said the property’s strong cash flow had caused SL Green’s carrying value in the investment to go negative, reaching the maximum negative basis allowed under GAAP at the end of the first quarter. Beginning in Q2, the company’s FFO contribution from One Vanderbilt includes amortization of the negative carrying value and the difference between cash distributions received and SL Green’s share of GAAP net income.

DiLiberto said those two components add $0.80 per share to 2026 FFO, including $0.35 recorded in the second quarter. He said the contribution is expected to be “as much or more” next year based on current projections.

Leasing Momentum Broad-Based Across Portfolio SL Green executives described leasing strength as broad-based, with particular rent appreciation in Park Avenue and Sixth Avenue assets. Steve Durels, executive vice president and director of leasing and real property, said rents have risen “dramatically” at properties including 1185 Sixth Avenue and 245 Park Avenue.

Asked about leasing mark-to-market trends, Durels said the strength was not isolated to one building or submarket. “Across the portfolio, we’ve been consistently raising asking rents throughout the year,” he said, adding that the company expects similar trends in the next quarter.

Durels said the company’s leasing pipeline stood at 900,000 square feet, about evenly split between new leases and renewals. Of that amount, 400,000 square feet was in active negotiation, with the balance in term sheets expected to convert to leases.

Management also highlighted activity tied to technology and artificial intelligence tenants. Durels said there are 9.5 million square feet of active technology searches in Manhattan, including 2.5 million square feet from AI tenants. He said SL Green has limited AI exposure to roughly 1% to 2% of its portfolio and noted that many current AI prospects are better capitalized than dot-com-era tenants.

New York City Office Market Cited as Key Driver Holliday repeatedly pointed to New York City’s economic strength as a foundation for SL Green’s performance. He cited Wall Street profits, office-using job growth, venture capital funding and broad demand from financial services, technology and healthcare as factors supporting office leasing.

He said the city has seen about 50 million square feet of office space leased over the past four quarters, which he characterized as likely a record. Holliday said the recovery is being driven by four factors: a strong local economy, limited new office supply, tenants moving forward with long-term space plans after years of uncertainty, and office-to-residential conversions reducing available office inventory.

“As long as the economy stays robust as it is, we don’t see this abating anytime soon,” Holliday said.

On concessions, Durels said renewal deals continue to support higher net effective rents. For typical five-year renewals, he said free rent is generally around three to four months, with three months often being the average. For new 10-year transactions, he said free rent could eventually move toward 10 months.

Capital Markets, Dispositions and Development Updates President and Chief Investment Officer Harry Sitomer said investor demand for quality Midtown Manhattan assets remains strong despite higher benchmark rates. He said SL Green has completed or is under contract on four of the 11 transactions in its 2026 plan and expects to announce two more soon, with the remaining five expected to launch later in the year.

Sitomer cited several recent transactions, including SL Green’s partnership with Mori Building at 346 Madison Avenue and its contract to sell 10 East 53rd Street at an approximately 5.7% cap rate. He said the 10 East 53rd Street sale represents roughly a 3.5 times multiple on SL Green’s 2024 acquisition of its partner’s interest.

On debt markets, Sitomer said SL Green remains encouraged by credit availability, pointing to roughly $11 billion of year-to-date CMBS originations, compared with about $8.5 billion during the same period last year. He said the company’s next major refinancing is 245 Park Avenue, which is in advanced stages.

DiLiberto said SL Green continues to hedge interest rate exposure, maintaining a more cautious stance as benchmark rates remain volatile. He said the company’s debt mix is now closer to 90% fixed and 10% floating, compared with a prior 70/30 mix.

At 346 Madison, Holliday said SL Green chose to bring in Mori Building early to fully capitalize and de-risk the development. He said the company may syndicate additional equity later, potentially after leasing begins, upon completion or during recapitalization.

SUMMIT and Other Assets Holliday said SUMMIT One Vanderbilt continues to outperform competing observatory attractions in attendance and average ticket price, even as overall tourism in New York has been weaker this year. He said attendance was softer early in the year but improved beginning in late May and June, with recent daily ticket sales reaching levels typically seen during the year-end holiday period.

SL Green remains on track to open SUMMIT Paris in 2027 and SUMMIT Tokyo in 2030, Holliday said, adding that the company sees “enormous growth potential” for the business.

Regarding 1515 Broadway, Holliday said SL Green has reassessed plans after the casino outcome and now views the property positively. He said Paramount’s acquisition by Skydance and planned Warner Bros. transaction could put the building back in play for longer-term use by the combined company. He also said lower debt at the property after the Paramount lease expires would give SL Green flexibility to consider entertainment-focused conversion options.

DiLiberto said SL Green still expects funds available for distribution to improve through 2026 and 2027, with the company reaching dividend coverage breakeven in 2028.

About SL Green Realty (NYSE:SLG)SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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 SL Green Realty Right Now?Before you consider SL Green Realty, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SL Green Realty wasn't on the list.

While SL Green Realty currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

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Something odd has happened to Apple (AAPL -1.27%) on Wall Street. The 47 analysts covering the stock still rate it a buy, on average. But their average 12-month price target is now about $319 -- slightly below the roughly $320 the stock trades for as of this writing. In other words, the analysts who recommend buying Apple are, collectively, forecasting that it goes nowhere for a year.

That's an unusual setup for one of the world's most valuable tech companies, and the timing sharpens it. Apple reports fiscal third-quarter results on July 30, one week from today.

So is Wall Street quietly saying the stock is fully valued? Or have the targets simply not caught up with a stock that has moved faster than the models tracking it? A little of both, I'd argue.

Image source: Apple.

What a below-price average actually says The average hides a wide spread. Price targets on Apple run from a low of $215 to a high of $400, and the median target of about $329 sits modestly above the current share price.

The ratings lean the same direction as the average rating suggests. Of the 47 analysts, 29 rate the stock a buy or better, 14 call it a hold, and only four recommend selling.

That combination of bullish ratings and flat targets usually shows up after a stock has made a big move in a short time. Apple qualifies. Shares trade about 59% above their 52-week low of $201.50, and they set a record high of $334.99 within the past week.

Price targets tend to trail a run like that, getting revised upward in steps as analysts refresh their models. Indeed, the revisions are still coming. Morgan Stanley just lifted its target to $364.

But it would be too easy to dismiss the flat average as pure lag. The targets also reflect a valuation that has expanded dramatically. Apple trades at about 40 times earnings, a big premium to where it sat for most of the past few years.

The business is backing it up for now. Revenue rose 17% year over year in the fiscal second quarter, and earnings per share climbed 22%. But a year ago, investors could buy the same company for a much smaller premium. The below-price average is Wall Street's way of saying most of that improvement is now in the price.

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The setup into July 30 That leaves next week's report carrying more weight than usual. Apple has scheduled its fiscal third-quarter results for Thursday, July 30. A 40-times-earnings multiple on a company sitting 4% from its record high leaves little cushion if growth cools.

There are reasons to expect the growth to hold. The company's recent momentum has been broad. iPhone revenue hit $57 billion in the March quarter, a record for the period and up 22% year over year, and the high-margin services business set an all-time revenue record of its own.

And Apple keeps adding potential catalysts. A reported device-leasing program with Klarna is reportedly set to launch on July 28 -- a move that could nudge iPhone revenue toward steadier, subscription-like behavior.

With that said, investors shouldn't count on the report to deliver another leg higher. When the average analyst target sits below the price, good news mostly confirms what's already priced in, while any wobble invites the stock to close the gap with the models. Apple doesn't need to disappoint for the stock to stall. It just needs to be ordinary for a quarter.

As for what I'd do, I wouldn't treat a below-price average target as a sell signal. Analyst targets chase the stock in both directions, and Apple remains one of the highest-quality businesses in the world, with staying power that's difficult to find anywhere else. It's a stock I'd continue holding for the long haul, and I'd still call it a top stock to buy and hold -- in moderation -- even at today's premium.

But the flat consensus is useful as a temperature check. It says the easy stretch of this run is probably over, and that returns from here likely have to be earned by the business quarter after quarter, because the valuation multiple has already done its expanding. Going into July 30, that's worth keeping in mind before expecting fireworks.

David Wagner explains why Alphabet (GOOGL) is emerging as an AI leader through stronger cloud growth, despite recent stock weakness brought by investor fears of ramping CapEx. He also breaks down Tesla's (TSLA) earnings miss and its long-term AI strategy after the company posted negative cash flow.

Microsoft AI released two new in-house models into public preview on Wednesday — MAI-Image-2.5-Pro, its highest-fidelity image generator to date, and MAI-Voice-2-Flash, a speech model built for high-volume enterprise workloads — while publishing production data that amounts to the company's most aggressive argument yet that it can power its own products without leaning on OpenAI's frontier models. The announcement, made by Microsoft AI's Superintelligence team, lands roughly a year after the company committed to building purpose-built models internally, and it arrives with an unusual level of specificity about where those models now run: Bing, PowerPoint, OneDrive, Dynamics 365, Excel, GitHub Copilot, and Azure.

As artificial intelligence and global data monitoring redefine the modern economy, choosing between NVIDIA (NVDA -1.56%) and Planet Labs PBC (PL -1.06%) requires a clear look at their differing trajectories. Both companies represent high-growth ambitions within the broader technology landscape.

NVIDIA dominates the hardware foundation of the digital world, while Planet Labs provides a unique view of Earth from space. While one is a trillion-dollar leader and the other is a growing up-and-comer, both companies are leveraging advanced computing to capture value in an increasingly data-driven global market.

The case for NVIDIANVIDIA designs the hardware and software used for accelerated computing and graphics. The company recently expanded its predictive capabilities by acquiring Kumo AI for nearly $400 million in June 2026. Note that two direct customers account for roughly 22% and 14% of total revenue, and customer concentration like this adds a layer of risk to the business. The company also clarified it is not in talks to acquire any PC manufacturers despite market rumors.

In its 2026 fiscal year (FY), revenue reached $215.9 billion, representing growth of 65.5% compared to the prior year. Net income for the period was $120.1 billion, resulting in a net margin of 55.6%. This performance reflects a significant upward trend in demand for high-end computing components across various industries.

As of its January 2026 balance sheet, the debt-to-equity ratio is 0.1x, which compares total debt to shareholder equity to show how a company funds its operations. The current ratio, which measures the ability to pay short-term obligations with short-term assets, is 3.9x. Free cash flow, calculated by subtracting capital expenditures from operating cash flow, reached $96.7 billion.

The case for Planet Labs PBCPlanet Labs provides daily Earth-imaging data through a subscription platform, serving sectors like agriculture and mapping. The company is currently expanding its global presence, including a new office in London focused on AI-driven partnerships within the defense stocks and commercial sectors. Much of its revenue comes from multi-year licensing agreements with large commercial enterprises and government entities.

In FY 2026, the company reported revenue of $307.7 million, which marks growth of 25.9% year-over-year. However, it recorded a net loss of $246.9 million for the fiscal year. This resulted in a negative net margin of 80.2% as the company continues to invest in its orbital infrastructure and data analytics software.

Based on the January 2026 balance sheet, the debt-to-equity ratio is 2.5x, indicating that total liabilities exceed shareholder equity. The current ratio is 1.7x, suggesting the company maintains enough liquidity to cover immediate expenses. Note that stock-based compensation (SBC) represented 40.9% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

Risk profile comparisonNVIDIA faces significant geopolitical hurdles, as stringent U.S. export restrictions on China limit its total addressable market. The company also deals with active litigation regarding historical crypto-mining revenue and intense competitive pressure from Advanced Micro Devices, Intel, and large cloud providers such as Amazon, which are producing their own AI semiconductor chips. Additionally, a heavy reliance on a limited number of international foundries creates vulnerabilities to regional geopolitical instability and sudden demand-supply mismatches.

Planet Labs carries risks related to its history of operating losses and the ongoing need for substantial capital to maintain its satellite constellation. The business is also vulnerable to technical failures in orbit, launch delays, or ground station outages that could interrupt services for its thousands of users. Furthermore, the company must navigate strict regulatory oversight from agencies like the FCC while competing against government-subsidized imagery programs such as Landsat, which may exert downward pressure on pricing.

Valuation comparisonNVIDIA appears more attractive on a Forward P/E basis, although both companies carry high P/S ratio figures relative to their current sales and future earnings estimates.

MetricNVIDIAPlanet Labs PBCForward P/E23.0x202.2xP/S ratio23.3x25.0xValuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Both NVIDIA and Planet Labs operate in hot sectors. The former is the industry leader in AI semiconductor chips, while the latter is involved in the emerging space economy.

The potential of investing in Planet Labs was illustrated this year when the stock soared to an eye-popping 52-week high of $51.76 in May. The increase was due to investor excitement over the emerging space economy, exemplified by the historic initial public offering (IPO) of Space Exploration Technologies Corporation, better known as SpaceX, in June.

However, Planet Labs stock has returned to earth since the SpaceX IPO. While it delivered record revenue of $94 million, representing an impressive 42% year-over-year increase, in its fiscal first quarter ended April 30, the company also posted an operating loss of $34.9 million, a substantial increase from the prior year’s loss of $22.8 million.

NVIDIA stock is unlikely to see the kind of explosive share price increase Planet Labs experienced this year, because Wall Street now holds sky-high expectations of the AI chip leader. Even so, NVIDIA is a well-run business under visionary CEO Jensen Huang, who correctly predicted the company’s chips could galvanize the AI sector.

In NVIDIA’s first quarter ended April 26, 2026, the company reported revenue of $81.6 billion, up an outstanding 85% from a year ago, demonstrating its dominance in the AI chip market. Its industry leadership, strong financials, and superior share price valuation make NVIDIA the better stock to own over Planet Labs.

Key Takeaways Intel's release highlighted favorable demand trends for AI compute. YoY sales growth of 25% reflected the highest read in more than a decade. Intel is significantly increasing its investments in equipment to support future growth. The 2026 Q2 earnings season really picked up pace this week, with a few Magnificent Seven members, namely Alphabet and Tesla, headlining the docket.

While the reactions to those releases were less than desirable, the reaction to Intel’s (INTC - Free Report) results has been relatively more constructive. The stock’s action over July has been disappointing, but the favorable release could help turn sentiment around.

Intel Benefits From AI-Driven Compute DemandIntel reported revenues of $16.1 billion, growing by a rock-solid 25% YoY and reflecting the highest growth rate we’ve seen from the company in more than a decade. The growth rate alone reflects a huge highlight, with the stock’s comeback over the past year simply incredible, gaining more than 400% since last July.

Importantly, its Data Center and AI business unit saw revenue surge nearly 60% YoY to $6.3 billion, with Intel Foundry also seeing 31% YoY revenue growth to $5.8 billion. These results overall reflect that Intel is successfully capturing the AI boom both as a designer of AI processors and as a factory building them.

Image Source: Zacks Investment Research

Lip-Bu Tan, Intel CEO, said –

‘AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network.’

Intel (INTC - Free Report) is also significantly increasing its investments in equipment, clean room space, and substrates. Simply put, Intel is expecting strong, long-term AI demand. The stock currently sports the highly-coveted Zacks Rank #1 (Strong Buy), but keep an eye on the revisions in the coming days/weeks following the release. Further upward revisions would ignite near-term momentum.

Image Source: Zacks Investment Research

Gold and Silver Recovery—3 Precious Metals Stocks for H2 2026Newmont NYSE: NEM said it remains on track to meet its full-year 2026 guidance after reporting a stronger-than-expected second quarter, supported by stable operations, higher realized gold prices and disciplined cost control across its global mining portfolio.

President and CEO Natascha Viljoen said the company produced 1.3 million ounces of gold, 17,000 tons of copper and 7 million ounces of silver during the quarter. Newmont generated $2.9 billion in cash flow from operations after working capital and a second-quarter record $2.2 billion in free cash flow.

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Gold’s 2026 Rally Has Cracked—Is It Time to Buy the Pullback?“Newmont delivered a strong second quarter and remains on track to achieve full-year 2026 guidance, supported by disciplined execution across the portfolio and continued momentum as we head into the second half of the year,” Viljoen said.

Executive Vice President and CFO Brian Tabolt said Newmont generated $3.8 billion of adjusted EBITDA and adjusted net income of $2.10 per share. The company realized an average gold price of $4,414 per ounce during the quarter.

Production Pulls Forward From Second Half Golden Ceasefires: Forget Fear, It's About the Global Reset Viljoen said second-quarter operational performance was modestly ahead of expectations, largely because some ounces initially expected in the third quarter were produced earlier than planned. The key contributors were Yanacocha and Lihir, which together delivered roughly 50,000 ounces that had been expected in the second half.

Lihir benefited from ongoing asset reliability work, while Newmont also cited stable performance from its Nevada Gold Mines joint venture. The company now expects about 49% of full-year production to have been delivered in the first half and 51% in the second half.

Newmont expects third-quarter production across the portfolio to be broadly in line with the second quarter before increasing in the fourth quarter, which Viljoen said is still expected to be the company’s strongest quarter of the year. The fourth-quarter increase is expected as Lihir completes planned maintenance in the third quarter and Ahafo North reaches its full run rate.

During the Q&A session, Viljoen said Ahafo North’s long-term operating level is expected to be 350,000 ounces per year.

Costs Remain Within Guidance Despite Oil Pressure Newmont said cost pressures increased during the second quarter, largely as expected, due in part to higher oil prices. Tabolt said gold all-in sustaining costs were $1,621 per ounce on a byproduct basis, below the company’s full-year guidance of $1,680 per ounce.

Tabolt said unit costs rose sequentially from the first quarter because of lower gold and silver production and sales volumes, lower byproduct contribution, higher Ghana royalties and higher diesel prices. He said Newmont continues to monitor oil-related pressures and their potential effects on explosives, cyanide, grinding media, labor, contractor spending and freight.

“For every $10 per barrel change in the price of oil, you’ll see on a full-year basis about a $60 million impact,” Tabolt said.

Viljoen highlighted several productivity initiatives aimed at offsetting external cost pressures, including parking nearly 50 mining production units across the portfolio without affecting production. She also cited increased underground productive time at Cerro Negro, milling efficiency improvements at Ahafo North, better wet-weather preparedness at Merian and reduced contract utilization where possible.

In response to analyst questions, Viljoen said open-pit operations with large fleets, including Boddington, Peñasquito, Lihir and Merian, are among the assets most exposed to energy costs. She said productivity improvements at those sites have reduced consumption.

Capital Spending Weighted to Second Half Newmont expects sustaining capital spending to be about 58% weighted toward the second half of 2026, driven by the timing of work at Boddington and Cadia, ventilation work at Tanami and seasonal construction at Brucejack and Red Chris. Development capital is expected to be 63% weighted toward the second half, reflecting work at major projects and feasibility activity at Red Chris.

Tabolt said Newmont remains on track for full-year sustaining capital guidance of $1.95 billion and development capital guidance of $1.4 billion. He said sustaining capital is expected to increase by roughly $150 million from the second quarter to the third quarter, with a similar increase in development capital.

At Cadia, Viljoen said production from the operating caves resumed in mid-June following an April 14 seismic event. Development work has returned to normal levels at PC1-2, but cave establishment at PC1-2 and PC2-3 remains halted pending regulatory approvals and additional safety work.

Viljoen said the existing operating caves have returned to background seismicity, while cave establishment work naturally involves higher seismic activity and requires additional controls. Newmont continues to expect no impact on full-year production guidance from the Cadia event.

Red Chris Advances Toward Investment Decision Newmont said the Red Chris block caving project received key regulatory approvals from the province of British Columbia, including an amended environmental assessment certificate through a consent-based process with the Tahltan Nation.

Viljoen said the company is now focused on completing the feasibility study and advancing the project toward board approval and a final investment decision. During the Q&A session, she said the project is undergoing internal technical and financial review to ensure it meets Newmont’s standards and hurdle rates.

She said expected capital costs are higher than the original numbers under Newcrest, primarily because of inflationary pressures across the project development sector. However, she said Newmont has used the feasibility process to improve design, reduce risk and improve economics, including lessons learned from a fall-of-ground incident last September.

Viljoen said Newmont expects to complete the review toward the end of the year for board consideration, but added that the company would delay “a month or three” if needed to ensure it can meet any capital and timing commitments.

Asked about a $500 million investment from the Canadian government, Viljoen said Newmont is still working on a memorandum of understanding with Canada’s major projects office to determine the terms and conditions of the grant.

Shareholder Returns and Portfolio Outlook Newmont returned approximately $1.8 billion to shareholders during the quarter through dividends and share repurchases, and about $1.9 billion since its prior earnings call, including July repurchases. Tabolt said the company has returned more than 80% of free cash flow for two consecutive quarters.

The company declared a quarterly dividend of $0.26 per share. Tabolt said Newmont repurchased $1.7 billion of shares under the $6 billion authorization approved in April, including more than $600 million in July to date, leaving about $4.3 billion available. Since launching its repurchase program more than two years ago, Newmont has reduced its share count by more than 100 million shares, or approximately 9%.

Newmont ended the quarter with $3.4 billion of net cash, modestly above the upper end of its target range of $1 billion plus or minus $2 billion. Tabolt said the position may fluctuate as the company funds capital programs, pays dividends and returns excess cash through buybacks.

Viljoen also addressed Newmont’s discussions with Barrick over Nevada Gold Mines, saying the company has been engaged for several months to address legal, technical and commercial differences related to joint venture management, past performance, a proposed IPO and excluded property contribution processes. She said several key issues remain unresolved but that Newmont remains committed to protecting shareholder rights and enforcing its legal rights if required.

Looking ahead, Viljoen said Newmont’s 12 managed operations remain part of the portfolio as long as they compete for capital and fit the company’s definition of world-class assets. She pointed to brownfield opportunities at Lihir, Cerro Negro, Ahafo South, Ahafo North, Brucejack and Merian, while describing Wafi-Golpu as further out in the development pipeline.

Newmont said it plans to review how it provides guidance in February 2027, including the potential reestablishment of multi-year guidance.

About Newmont (NYSE:NEM)Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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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Newmont Corporation (NEM) Q2 2026 Earnings Call July 23, 2026 5:30 PM EDT

Company Participants

Neil Backhouse - Group Head of Treasury & Investor Relations
Natascha Viljoen - CEO, President & Director
Brian Tabolt - Executive VP & CFO

Conference Call Participants

Fahad Tariq - Jefferies LLC, Research Division
Hugo Nicolaci - Goldman Sachs Group, Inc., Research Division
Daniel Morgan - Barrenjoey Markets Pty Limited, Research Division
Richard Garchitorena - Barclays Bank PLC, Research Division
Anita Soni - CIBC Capital Markets, Research Division
Lawson Winder - BofA Securities, Research Division
Joshua Wolfson - RBC Capital Markets, Research Division
Daniel Major - UBS Investment Bank, Research Division
Tanya Jakusconek - Scotiabank Global Banking and Markets, Research Division

Presentation

Operator

Hello, and welcome to Newmont's Second Quarter 2026 Results Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Newmont's Group Head of Treasury and Investor Relations, Neil Backhouse. Neil, please go ahead.

Neil Backhouse
Group Head of Treasury & Investor Relations

Thank you, Holly. Hello, everyone, and thank you for joining Newmont's Second Quarter 2026 Results Conference Call. Joining me today are Natascha Viljoen, our President and Chief Executive Officer; Brian Tabolt, our newly appointed Executive Vice President and Chief Financial Officer; as well as other members of our management team who will be available to answer questions at the end of the call. Before we begin, please take a moment to review our cautionary statement shown here and refer to our SEC filings, which can be found on our website.

With that, I'll turn the call over to Natascha.

Natascha Viljoen
CEO, President & Director

Thank you, Neil, and hello, everyone. To begin today's call, I'd like to start by acknowledging the executive leadership appointments we announced last month, reflecting the depth and talent we have within Newmont and reinforcing our commitment to

Digital Realty Trust, Inc. (DLR) Q2 2026 Earnings Call July 23, 2026 5:00 PM EDT

Company Participants

Jordan Sadler - Senior VP of Public & Private Investor Relations
Andrew Power - President, CEO & Director
Matt Mercier - Chief Financial Officer
Colin McLean - Chief Revenue Officer
Gregory Wright - Chief Investment Officer
Chris Sharp - Chief Technology Officer

Conference Call Participants

Eric Luebchow - Wells Fargo Securities, LLC, Research Division
Nicholas Del Deo - MoffettNathanson LLC
Michael Rollins - Citigroup Inc., Research Division
Madison Rezaei - Bernstein Institutional Services LLC, Research Division
Jonathan Atkin - RBC Capital Markets, Research Division
Jonathan Petersen - Jefferies LLC, Research Division
Michael Ng - Goldman Sachs Group, Inc., Research Division
Richard Choe - JPMorgan Chase & Co, Research Division
Joseph Osha - Guggenheim Securities, LLC, Research Division

Presentation

Operator

Good afternoon, and welcome to the Digital Realty Second Quarter 2026 Earnings Call. Please note, this event is being recorded. [Operator Instructions]

I would now like to turn the call over to Jordan Sadler, Digital Realty's Senior Vice President of Public and Private Investor Relations. Jordan, please go ahead.

Jordan Sadler
Senior VP of Public & Private Investor Relations

Thank you, operator, and welcome, everyone, to Digital Realty's Second quarter 2026 Earnings Conference Call. Joining me on today's call are President and CEO, Andy Power; and CFO, Matt Mercier; Chief Investment Officer, Greg Wright; and Chief Technology Officer, Chris Sharp; and Chief Revenue Officer, Colin McLean, are also on the call and will be available for Q&A.

Management will be making forward-looking statements, including guidance and underlying assumptions on today's call. Forward-looking statements are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. For a further discussion of risks related to our business, see our 10-K and subsequent filings with the SEC. This call will contain certain non-GAAP financial information. Reconciliations to the most

Sunset clouds glow over pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau region, Kazakhstan, April 21, 2026. REUTERS/Pavel Mikheyev Purchase Licensing Rights, opens new tab

BEIJING, July 24 (Reuters) - Oil headed for weekly gains on Friday, as Houthi attacks on tankers in the Red Sea sparked worries about the closure of a second ​shipping chokepoint, while Kazakhstan temporarily cut output after its main export route ‌was forced to shut.

Brent futures eased 72 cents, or 0.72%, to $99.97 a barrel as of 0126 GMT, but remained on course for a 13.5% advance this week. West Texas Intermediate (WTI) futures fell 70 cents, ​or 0.76%, to $91.49 a barrel, on track for a 10.9% weekly rise.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

Brent had ​settled up 7% and WTI up 6.2% on Thursday, the first ⁠time since May that Brent settled above $100 after Iran-aligned Houthis said they had struck two ​Saudi oil tankers in the Red Sea.

Prices were driven up by fears that the attacks ​would lead to the closure of the Bab el-Mandeb shipping route, which controls access from the Red Sea to the Indian Ocean and is the second most important oil channel after the Strait of ​Hormuz.

U.S. President Donald Trump vowed to "hold Iran responsible" for any further attacks.

The Iran-aligned Houthis ​had declared on Monday that they were imposing a naval blockade on Saudi Arabia, which had been diverting ‌its ⁠oil via pipeline to get around Iran's closure of the Strait of Hormuz.

Iran had been pressing the Houthis to close the Bab el-Mandeb gateway to the Red Sea if the U.S. continued to attack Iranian power infrastructure, after an interim truce between the two ​countries collapsed two weeks ​ago.

"The noose around global ⁠energy supply routes is pulling tighter again," IG market analyst Tony Sycamore said in a note.

Also on Thursday, Kazakhstan's energy ministry said ​oil companies temporarily cut back production after suspected Ukrainian drone attacks forced ​the country's ⁠main Black Sea export terminal to close.

The Caspian Pipeline Consortium stopped receiving oil from Kazakhstan after suspending loadings because of attacks on tankers at the terminal, industry sources had said on ⁠Tuesday. The ​route handles about 2% of global daily crude ​supply.

Kazakhstan's energy ministry did not specify the scale of the production reductions, but one source said the country's biggest ​field had cut output by more than half.

Reporting by Colleen Howe; Editing by Kevin Buckland

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3 Waste Stocks Turning AI Investments Into GrowthReliance NYSE: RS reported what executives described as another strong quarter, with record tons sold, sharply higher year-over-year sales and stronger profitability supported by favorable pricing, improving demand across several end markets and initial contributions from a U.S. Department of Homeland Security border wall contract.

On the company’s second-quarter 2026 earnings call, President and Chief Executive Officer Karla Lewis said Reliance achieved its “second highest quarterly revenue” and “record quarterly tons sold,” while continuing to outperform broader industry shipment trends. Lewis attributed the performance to the company’s scale, product and end-market diversification, value-added service offerings and relationships with domestic mills.

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Trash to Treasure: 3 Waste Removal Stocks to Minimize Volatility“Market conditions remained favorable, supported by improving customer activity, extended mill lead times, and strong pricing across our broad product portfolio,” Lewis said.

Shipments and Pricing Exceed Expectations Executive Vice President and Chief Operating Officer Steve Koch said tons sold increased 7% from the first quarter and 10.8% from the second quarter of 2025, exceeding the company’s prior expectations for sequential growth of 1% to 3% and year-over-year growth of 4.5% to 6.5%.

Can RSG Stock Turn Guidance Into Gains in 2026?Koch said the sequential increase included a 5.1 percentage point contribution from the U.S. border wall contract. Carbon steel products led shipment growth, while aluminum and stainless-steel products also contributed at higher per-ton profitability levels.

Reliance’s average selling price rose 7.8% from the first quarter, also exceeding the company’s forecast for a 1.5% to 3.5% increase. Koch said pricing for carbon steel and aluminum products continued to move higher amid constrained supply, extended lead times and strengthening demand.

Chief Financial Officer Arthur Ajemyan said sales increased 27% year over year. Gross profit was $1.3 billion, up 11% from the first quarter and 20% from the prior-year period. Non-GAAP pre-tax income rose 40% year over year to $429 million, and non-GAAP earnings per diluted share increased 42% to $6.27.

Border Wall Contract Adds to Earnings The DHS border wall contract was a notable contributor to the quarter. Ajemyan said the project added $0.41 per share to second-quarter earnings. While the project created a roughly 40 basis point headwind to gross profit margin, he said lower-than-average operating costs per ton more than offset that impact and added about 30 basis points to pre-tax income margin.

Lewis said shipments under the contract began in April and ramped faster than expected. During the question-and-answer portion of the call, she said third-quarter shipments are expected to be higher and close to a full run rate, which she said could be sustained through following quarters, subject to metal supply and customer inventory pulls.

Lewis also said the first phase of the project is expected to generate about $1.4 billion in sales through mid-2027. A potential second phase of roughly $800 million to $900 million is subject to the customer opting in and is not guaranteed, though Lewis said Reliance believes the customer will “probably execute that extension.”

End-Market Demand Broadens Reliance said non-residential construction and general manufacturing each represented about one-third of second-quarter sales. Koch said non-residential construction demand remained strong, driven by data center and related energy infrastructure projects, heavy civil work and public infrastructure. The border wall project also increased the company’s presence in the market.

In general manufacturing, Koch cited strong year-over-year shipment growth tied to industrial machinery, including data center equipment, along with shipbuilding, military, consumer products and construction machinery.

Aerospace products accounted for about 9% of second-quarter sales. Koch said commercial aerospace showed early improvement as OEM build rates increased, though elevated inventories persisted. Defense and space-related aerospace activity remained strong. Automotive represented about 4% of sales, and Koch said demand improved as the company’s toll processing operations adapted to variable market conditions.

Lewis said customer optimism is building across infrastructure, semiconductor, general manufacturing and aerospace markets. She also pointed to momentum from data centers, power infrastructure, military spending and reshoring.

LIFO Expense Rises on Higher Metal Costs Higher carbon and aluminum product costs led Reliance to raise its full-year LIFO expense outlook to $300 million from $150 million. The company recorded second-quarter LIFO expense of $112.5 million, above its prior estimate of $37.5 million, and expects to record $75 million of LIFO expense in the third quarter.

Ajemyan said aluminum was a notable driver of the increase, with roughly $100 million of the updated $300 million annual LIFO estimate tied to aluminum. He said aluminum pricing has nearly doubled from pre-tariff levels and has created “some distortion” in percentage margins, though gross profit per unit and overall gross profit dollars have increased.

At the end of the quarter, Reliance’s LIFO reserve was approximately $700 million. Ajemyan said that reserve remains available to support future operating results and help mitigate the impact of future metal price declines.

Balance Sheet and Third-Quarter Outlook Reliance generated about $162 million in operating cash flow during the second quarter despite higher working capital needs from increased shipments and metal pricing. The company funded $93 million of capital expenditures and paid $64 million in dividends. It did not repurchase shares during the quarter and had approximately $529 million remaining under its current buyback authorization.

Total debt was $1.7 billion at quarter-end, and net debt to EBITDA was 0.9. Lewis said the company’s balance sheet and liquidity remain competitive advantages, supporting growth investments, stockholder returns and disciplined capital deployment. Reliance maintained its full-year 2026 capital expenditure outlook of about $300 million, with roughly half allocated to strategic growth investments.

For the third quarter of 2026, Reliance expects non-GAAP earnings per diluted share of $6.40 to $6.60, including an estimated $75 million of LIFO expense, or about $1.10 per share. Ajemyan said the company expects demand and pricing to remain healthy, while noting risks tied to trade policy, the U.S.-Iran conflict and normal seasonality.

About Reliance (NYSE:RS)Reliance Steel & Aluminum Co NYSE: RS is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.

Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.

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