Fireblocks integroval Circle Gateway, takže institucionální klienti získají jednotný zůstatek USDC napříč blockchainy. Po oznámení akcie Circle (CRCL) vzrostly o 17 %.
Fireblocks and Circle just made moving USDC across blockchains feel less like navigating a maze and more like sending a text. The two companies announced a strategic collaboration on September 9, integrating Circle Gateway directly into the Fireblocks platform to give institutional users a single, unified USDC balance that works across chains in under 500 milliseconds.
What the integration actually does Circle Gateway, now embedded in Fireblocks, provides customers with real-time, unified balances for USDC and EURC across supported blockchains. No separate chain-specific setups required.
For institutional players, this is more than a convenience upgrade. Pre-positioning capital across multiple chains ties up liquidity that could be deployed elsewhere. Eliminating that requirement frees up working capital and reduces the operational overhead that has kept some traditional finance firms from going deeper into digital assets.
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The integration builds on an earlier April 2025 connection between Fireblocks and Circle’s Payments Network, known as CPN, which established the interoperability backbone that makes this latest move possible.
Circle’s Arc and the institutional play The collaboration goes beyond Gateway. Fireblocks is a Day 1 launch partner for Circle’s Arc, an enterprise-grade Layer-1 blockchain designed specifically for stablecoin finance. Arc is built to handle the compliance and security requirements that banks and asset managers demand before they’ll touch crypto infrastructure.
By combining Fireblocks’ custody and transaction infrastructure, which has secured over $10 trillion in digital asset transactions across more than 120 blockchains, with Circle’s stablecoin ecosystem, the two companies are constructing what amounts to a turnkey institutional stablecoin stack.
Market reaction and what investors should watch The market’s verdict was swift and decisive. Circle’s stock, trading under the ticker CRCL, jumped 17% following the announcement.
In a market where Tether’s USDT has historically dominated by sheer volume, this kind of distribution advantage through institutional infrastructure could meaningfully shift the competitive landscape. USDC doesn’t need to overtake USDT in total supply if it becomes the default stablecoin embedded in every major institutional platform.
The risk side of the equation matters too. Concentration of institutional stablecoin activity within a single integration stack creates dependency. If Fireblocks or Circle experiences technical issues, compliance setbacks, or regulatory changes, institutions using this unified balance system could face disruptions that wouldn’t affect those with diversified stablecoin strategies.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Blackbaud představil nové AI nástroje pro nezávislé školy K–12 včetně připravovaného Admissions Agent, který má zjednodušit přijímací řízení a podpořit zápis.
At its 2026 K–12 User Conference, Blackbaud shared human-centered AI capabilities that will help schools increase enrollment, strengthen engagement, and reduce operational complexity
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced new AI-driven innovations for independent K–12 schools at its 2026 K–12 User Conference, including a preview of its new Admissions Agent designed to help schools guide prospective families, improve enrollment outcomes, and streamline admissions workflows.
Private schools today are navigating rising expectations for personalized experiences alongside growing administrative pressure, increasingly complex operations and high turnover rates. Many are exploring how to apply AI in meaningful ways that support their teams by reducing administrative burden and spending more time building the human connections that define education.
Blackbaud's latest innovations are built to meet this moment, bringing human-centered AI to education with intelligent tools embedded directly into its K-12 solutions to help schools turn insight into action. By unifying these capabilities within a shared data foundation, Blackbaud's Total School Solution helps schools reduce fragmentation, gain clearer insight, and take more coordinated action across their entire community.
"Education is, and always will be, a deeply human experience," said Mark Davis, vice president and general manager of education products, Blackbaud. "Our focus is on using responsible AI to reduce administrative burden and strengthen the relationships at the heart of schools, giving teams the tools to act earlier, operate more efficiently, and deliver more connected experiences for families."
Introducing the Admissions Agent
At the center of Blackbaud's latest announcements is the Admissions Agent, part of the company's broader Agents for Good™ agentic AI suite. Purpose-built for schools, the Admissions Agent will enable every independent school to offer the high-touch, personalized admissions experience that previously only the most well-resourced institutions could achieve. The Agent works semi-autonomously or fully autonomously based on each school's comfort level, always within guardrails and always human-centered.
The Agent will:
Reduce friction throughout the admissions funnel, guiding families through each stage of the process Give potential applicants rapid answers to critical questions Keep families engaged with timely, personalized follow-up Identify where prospective families may be dropping off from the admission process Increase qualified, complete applications with a concierge admissions experience Blackbaud will launch an early adopter program soon to partner with schools on shaping the solution to meet the specific needs of school administrators.
Driving a New Era of Connected Intelligence
Blackbaud is embedding AI across its K–12 solutions to help schools move from managing systems to driving outcomes. Innovation highlighted across Blackbaud's Total School Solution to reduce manual work and improve coordination across the campus includes:
Candidate Insights—predictive enrollment and engagement insights—that draw on both historical and real-time data, as well as Blackbaud's proprietary insights to recommend next best actions to engage candidates Blackbaud AI Chat that helps administrators quickly ask questions of their data, get insights in plain language and take action, directly within the solution A Common Records Engine that syncs data in real time between Blackbaud Student Information System™ and Blackbaud Raiser's Edge NXT®, breaking down silos between departments A new Enrollment Contracts capability that simplifies the enrollment process, enabling administrators to streamline contract adjustments and automatically pull in financial management teams once a contract is signed Student Success Insights that help schools proactively identify and support at-risk students A new Parent Initiated Attendance feature that allows parents to submit absences, tardies and early dismissals directly through the Student Information System portal, providing real-time information to both administrative staff and teachers Enhancements across Blackbaud's Learning Management System from a new, simpler grading hub to AI tools that help teachers create and manage assignments An AI-enabled Collections Assistant that helps finance teams get ahead of late payments and see the full picture of a family's situation Together, these advancements enable schools to operate more proactively and reduce administrative burden while improving how they engage students and families.
A Community Focused on the Future
Blackbaud's K–12 User Conference brings together hundreds of school leaders, educators, and administrators for three days of hands-on learning, product innovation sessions, and peer collaboration. Attendees explore new technologies, participate in breakout sessions and discussions, and connect with peers and partners to share best practices and ideas for the future of K–12 private education. Day three will feature the popular Unconference experience—an open, participant-driven forum where educators shape the agenda based on topics that matter most to them.
"Blackbaud has a long history of commitment to education and schools, and this conference is one of the special things they do," said John Yen, director of technology, Polytechnic School. "There are so few conferences and networking opportunities for the support staff and administrators in schools, and this is an important opportunity to engage, learn, and share best practices. With AI at the forefront of technology today, ensuring the underpinnings of our school operations is the essential foundation in weathering changing times and the ongoing evolution in education."
Supporting Stronger Outcomes for Schools
"Research shows that teachers and staff spend over 50% of their time on administrative work," Blackbaud's Mark Davis added. "At Blackbaud we're integrating AI into the tools they use every day to reduce that burden and provide more opportunity to focus on what's most important: empowering student success."
Learn more about Blackbaud's AI-powered solutions for K–12 schools here. And learn more about Blackbaud's approach to Responsible AI here.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
Forward-looking Statements
Except for historical information, all of the statements, expectations and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Duquesne Family Office Stanleyho Druckenmillera měla v prvním čtvrtletí 2026 největší pozici v Naterě za těsně pod 613 miliony USD, což představovalo 18,1 % portfolia. Natera zároveň v 1. čtvrtletí 2026 zvýšila tržby o 39 % na 697 milionů USD.
He's a retired hedge fund manager, but people still want to know what billionaire Stanley Druckenmiller is doing with his money. The answer? Investing in the medical diagnostic company Natera (NTRA 0.31%).
As of the first quarter of 2026, Natera was the top holding of the Duquesne Family Office, which manages Druckenmiller's private wealth. It accounted for 18.1% of the portfolio's holdings, and the stake was worth slightly under $613 million at the time.
The genetic testing company may not be as well known as Nvidia or get as much attention, but surprisingly, Natera has quietly returned three times more than the chipmaker over the past 12 months.
Stanley Druckenmiller. Image source: Getty Images.
Druckenmiller keeps betting big on Natera Duquesne provides quarterly filings showing what it bought and sold, but it isn't required to explain its investment decisions.
Still, as the medical testing market is rapidly growing, it makes sense as to why Druckenmiller and his family office have been aggressively building a position in Natera. According to Grand View Research, the global genetic testing market was valued at only $11.7 billion in 2024, but is expected to reach $39.3 billion by 2030. And the global cancer diagnostics market is even bigger, expected to climb from $119.8 billion in 2025 to $191.1 billion by 2033.
Natera has a lot of opportunities within those markets, as it specializes in cell-free DNA testing and has testing for oncology, organ health, and women's health. It also offers testing for rare diseases. One product growth source for the company, in particular, has been through oncology testing. Last year, Natera increased its processed oncology tests by 51.6% from over 528,000 in 2024 to more than 800,000 in 2025. In the first quarter of 2026, it also saw a 50%+ increase in processed oncology tests.
In addition, Natera offered its shareholders even more bullish news in June, as its Signatera test became the first approved molecular residual disease test approved for patients with colorectal cancer in Japan. Signatera is expected to launch in Japan by the end of 2026.
Strong results continue into 2026 In 2025, Natera generated $2.3 billion, which was a 35.9% increase from 2024. That's on the back of increased testing; Natera processed 3.5 million total tests in 2025, a 15% increase from the number of tests processed in 2024.
Thus far, Natera is continuing to ride that wave of momentum. In the first quarter of 2026, it exceeded one million processed tests in a quarter for the first time. It also reported revenue of $697 million, a 39% increase, and Natera also boosted the midpoint of its full-year sales guidance by $120 million.
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Should you follow Druckenmiller's lead into Natera? Natera continues to show that demand for its testing is increasing, and shareholders have been rewarded with a rising stock price. As of this writing, the Natera stock price is up over 19%, and while it may not make investing headlines like Nvidia, Natera is performing better than the chipmaker. Over the last 12 months, the Natera stock price has been up more than 72%, while the Nvidia stock price has climbed slightly above 24%.
It's also a company that analysts generally view favorably, with 19 out of 22 saying Natera is a buy.
That said, Natera is also an unprofitable company. In 2025, it reported a net loss of $208.2 million, up from a net loss of $190.4 million in 2024. It's also continuing to invest heavily in research and development (R&D), with its R&D costs climbing from $129.1 million in Q1 2025 to $210.7 million in Q1 2026.
Overall, Natera can reward shareholders who are comfortable with an investment with high-reward potential but also increased risk. It's a leader in the medical diagnostics space and continues to report impressive revenue growth.
But owning Natera also means accepting the company's unprofitability, which may continue for some time. Druckenmiller appears comfortable with the risk associated with his Natera investment, but that's not reason alone for retail investors to own the stock.
Hasbro vyhlíží výsledky za 2. čtvrtletí, které by měly těžit ze síly Wizards of the Coast. Tržby by měly vzrůst na 1,05 miliardy USD, zatímco zisk na akcii má činit 1,15 USD.
Key Takeaways Hasbro's second-quarter results are expected to benefit from strength in the Wizards of the Coast business.HAS is likely to see demand supported by gaming, collectibles and entertainment-driven product launches.HAS margins may remain under pressure from royalties, digital investments and higher input costs. Hasbro, Inc. (HAS - Free Report) is scheduled to report second-quarter 2026 results on July 21, before the opening bell. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 31.3%.
HAS’ earnings have topped the consensus mark in each of the trailing four quarters, the average surprise being 37.9%.
How Are Estimates Placed?The Zacks Consensus Estimate for earnings is pegged at $1.15 per share, indicating a 11.5% decrease from $1.30 reported a year ago.
For revenues, the consensus estimate is pinned at $1.05 billion, implying a 6.7% increase from the prior-year quarter’s reported figure.
Factors to Note Ahead of HAS’ Q2 ResultsRevenuesHasbro’s top line in second-quarter 2026 is likely to have been driven by continued strength in its Wizards of the Coast segment. The MAGIC franchise remains a key growth engine, supported by record demand across premier releases, expanding organized play and a growing player base. Strong backlist demand, broader distribution through the Wizards Play Network and momentum from the Secrets of Strixhaven release are likely to have supported sales volumes. The expanding MAGIC ecosystem across tabletop, digital platforms and live events might have further supported revenue growth.
Our model predicts that total Wizards of the Coast & Digital Gaming revenues are likely to increase 8% year over year to $564 million.
Additionally, the Consumer Products segment is expected to have benefited from healthy point-of-sale trends, lean retailer inventories and a stronger entertainment slate. Product launches tied to major entertainment franchises and continued focus on gaming, collectibles and multi-generational brands are likely to have supported demand. Stable contributions from digital gaming, including recurring revenue streams from mobile titles, are also likely to have supported overall revenues.
Our model predicts that total Consumer Products revenues are likely to increase 2.5% year over year to $453.7 million.
EarningsMargins and earnings in second-quarter 2026 are likely to have remained under pressure despite expected revenue growth. Higher royalty expenses associated with licensed products and entertainment partnerships are expected to have weighed on profitability. Ongoing investments in digital gaming initiatives, product development and marketing for future game launches might have further limited margin expansion. In addition, rising oil-related input costs, including freight, resin and packaging expenses, are likely to have increased operating costs despite the company's continued productivity initiatives and cost-saving efforts.
Our model predicts gross profit margin to contract 530 basis points year over year 71.7%.
What Our Model Says About HAS StockOur proven model predicts an earnings beat for Hasbro this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
HAS’ Earnings ESP: Hasbro has an Earnings ESP of +2.46%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
HAS’ Zacks Rank: The company has a Zacks Rank #3 at present.
Other Stocks Poised to Beat on EarningsHere are some other stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these, too, have the right combination of elements to post an earnings beat.
JAKKS Pacific, Inc. (JAKK - Free Report) currently has an Earnings ESP of +51.02% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
JAKK’s earnings for the to-be-reported quarter are expected to increase 733.3%. JAKKS Pacific reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average surprise being 53%.
Hooker Furnishings Corporation (HOFT - Free Report) has an Earnings ESP of +150.00% and a Zacks Rank of 3 at present.
Hooker Furnishings is expected to register a 93.6% increase in earnings for the to-be-reported quarter. HOFT reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average surprise being 126.1%.
Royal Caribbean Cruises Ltd. (RCL - Free Report) currently has an Earnings ESP of +0.77% and a Zacks Rank of 3.
RCL’s earnings for the to-be-reported quarter are expected to decrease 10.5%. Royal Caribbean reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average surprise being 5.1%.
Vishay v 1. čtvrtletí 2026 zvýšil tržby v automotive o 10,6 % meziročně na 284,3 mil. USD díky rozjezdu hybridních a EV programů. Firma zároveň rozšiřuje kapacity v Newportu a Německu.
Key Takeaways Vishay's automotive revenues rose 10.6% year over year in Q1 2026 as hybrid and EV programs expanded.VSH is the leading resistor supplier for multiple new EV platforms with production ramping through 2028.Vishay is expanding capacity in Newport and Germany to support rising automotive demand and qualifications. Vishay Intertechnology, Inc. (VSH - Free Report) is steadily expanding its footprint in the electric vehicle (EV) market, positioning its automotive business for stronger long-term growth. As automakers increase the electronic content in both hybrid and battery EVs, demand for Vishay's power semiconductors and passive components is expected to rise.
The company's automotive segment showed encouraging momentum in the first quarter of 2026. Automotive revenues increased 2.7% sequentially and 10.6% year over year to $284.3 million, driven by solid OEM demand in North America and Europe as hybrid and EV production programs continued to ramp up. Order intake also improved as customers sought reliable suppliers with competitive lead times and greater manufacturing capacity.
A major growth driver is Vishay's increasing share in next-generation EV platforms. During the last earnings call, management stated that the company is now the leading supplier of resistors for multiple automakers launching new electric vehicle platforms. These programs are expected to ramp up production steadily through 2028, providing Vishay with multi-year revenue visibility.
The company is also securing design wins in several high-value automotive applications, including battery management systems, advanced driver-assistance systems (ADAS), electronic power steering and powertrain electronics. These systems require a growing number of semiconductors and passive components, creating additional content opportunities per vehicle.
To support future demand, Vishay continues expanding production capacity through investments at its Newport facility and its new 12-inch fab in Germany. Several automotive customer audits have already been completed, with additional qualifications expected in 2026. As EV adoption accelerates worldwide, Vishay's stronger customer relationships, expanding manufacturing footprint and rising content per vehicle should help drive sustained automotive revenue growth over the coming years.
How Vishay Stacks Up Against EV-Focused Semiconductor RivalsAmong Vishay's closest competitors, ON Semiconductor Corporation (ON - Free Report) and Allegro MicroSystems, Inc. (ALGM - Free Report) are also benefiting from the growing adoption of EVs.
ON Semiconductor has built a strong presence in EV powertrains through its silicon carbide (SiC) MOSFETs, intelligent power modules and image sensors. In the first quarter of 2026, automotive revenues increased 4.6% year over year and accounted for about 53% of ON Semiconductor's total sales, highlighting its deep exposure to the EV market. The company continues expanding SiC production capacity to meet rising demand from global automakers.
Allegro MicroSystems is another important player in automotive semiconductors, supplying magnetic sensors and power integrated circuits used in EV traction inverters, battery management systems and ADAS. In the fourth quarter of fiscal 2026, Allegro MicroSystems’ automotive revenues surged 17.5% year over year to $163.9 million and represented 67% of total sales, underscoring its heavy dependence on vehicle electrification.
While both companies are highly focused on automotive electronics, Vishay offers a broader portfolio spanning discrete semiconductors and passive components.
VSH’s Price Performance, Valuation and EstimatesShares of Vishay Intertechnology have skyrocketed 179% so far this year compared with the Zacks Computer and Technology sector’s 15.8% growth.
From a valuation standpoint, VSH trades at a forward 12-month price-to-earnings ratio of 34.4, significantly higher than the sector average of 24.49. Vishay carries a Value Score of C.
Vishay Intertechnology Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Vishay Intertechnology’s 2026 earnings is pegged at 75 cents per share, implying a robust improvement from the loss of 5 cents in 2025. The consensus mark of $1.54 per share for 2027 earnings calls for a 105% year-over-year surge. Estimates for 2026 and 2027 have been revised upward over the past 60 days.
Image Source: Zacks Investment Research
Vishay Intertechnology currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Zcash (ZEC), a privacy-focused cryptocurrency, has delivered robust gains over the past three weeks. ZEC’s price climbed from late June lows of $368 to approximately $552 on Tuesday, representing a 56% rally. According to CoinGecko, ZEC jumped 11% in a single trading session and has now returned to levels last seen several months ago.
Technical breakout and resistance levelsTraders observed ZEC clearing two crucial resistance zones at $500 and $560. With these levels surpassed, attention has shifted to the $644 resistance, which now forms the central barrier confronting bullish momentum in the four-hour time frame. Market participants noted that a move above $644 would reinforce ZEC’s short-term bullish reversal, paving the way for further upside targets at $690 and $750.
In the latest session on Wednesday, July 15, ZEC advanced another 1.6%, consolidating near $566 at the upper Bollinger Band. The middle band currently sits at $464. The Chaikin Money Flow, a technical indicator tracking buying pressure, has held above +0.05 for the past three sessions, suggesting persistent accumulation by market participants.
On the daily chart, the Relative Strength Index reads around 62, above its moving average but below the overbought threshold at 70, indicating room for further upward momentum.
Key LevelStatus$368Late June low$500Broken resistance$560Broken resistance$644Current resistance$675-$680Next channel target$690Potential next target$750Potential next targetIronwood upgrade and security enhancementsMuch of the recent optimism stems from the imminent Ironwood shielded pool upgrade, scheduled to launch on the mainnet around July 28. This update aims to reinforce Zcash’s privacy and security infrastructure following the public disclosure in early June of a long-standing counterfeiting vulnerability within the Orchard shielded pool—an essential feature protecting user transactions from public view.
Project Tachyon, together with Zcash’s core development teams, continues to finalize mathematical proofs to ensure the Ironwood upgrade resolves these flaws without introducing new vulnerabilities. Community updates have highlighted successful progress, with all consensus rule changes implemented and extensive code audits underway.
Project developers reported that all Ironwood upgrade consensus rules have been implemented and are undergoing comprehensive audits, with technical specifications approaching finalization.
The legacy Zcashd full-node client will be deprecated on July 18, urging node operators to migrate to the updated Zebra implementation to ensure full network compatibility.
Mini dictionary: Zebra is Zcash’s new official consensus node software, built to provide secure and stable full-node functionality and replace the older Zcashd client. It is developed by the Zcash Foundation to improve network performance and security.
Rising open interest and macro driversBeyond technical elements, broader market conditions have also contributed to ZEC’s rally. The US Consumer Price Index in June came in at 3.5%, softer than the anticipated 3.8%, reducing expectations for further Federal Reserve rate hikes. This macro development boosted demand for risk assets, helping Bitcoin rise from $62,000 to above $64,000 and supporting a positive environment for alternative coins like Zcash.
Futures data shows open interest in ZEC contracts briefly topping $750 million, a surge of more than 12% in just 24 hours. Such increased activity reflects a notable shift in trader sentiment and risk appetite. Analyst Ali Charts spotlighted $675-$680 as the next major technical zone to watch, describing sustained buying pressure throughout July.
Analyst Ali Charts identified $675-$680 as the pivotal channel boundary for ZEC’s ongoing uptrend and noted that ZEC continues to climb on persistent momentum.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Na Calix byla podána hromadná žaloba kvůli údajnému podvodu s cennými papíry po oznámení výsledků za 1. čtvrtletí 2026 a výhledu marží. Akcie po zprávě 22. dubna 2026 klesly o 13,98 % na 42,65 USD.
, /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Calix, Inc. ("Calix" or the "Company") (NYSE: CALX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Calix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until July 27, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Calix securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On April 21, 2026, after the market closed, Calix reported results for the first quarter of 2026 earnings, including that "[n]on-GAAP gross margin was 57.2%, a decrease of 80 basis points sequentially." Further, the Company reported gross margin guidance for the second quarter of 2026 is "55.8% (at the midpoint) is down 140 basis points from the previous quarter. This decline is primarily due the increase in memory component costs." In an accompanying earnings call on the same day, Calix's Chief Financial Officer, Cory Sindelar, said that "advanced purchasing had allowed us to avoid higher memory component costs during the first quarter. However, that advanced supply has run its course, and we now face market prices." Sindelar further revealed that, "reflecting the effects of higher memory component costs," "[f]or the year, we expect our non-GAAP gross margin to decline between 50 and 150 basis points."
On this news, Calix's stock price fell $6.93 per share, or 13.98%, to close at $42.65 per share on April 22, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
Na společnost Badger Meter byla podána hromadná žaloba kvůli údajnému předčasnému uznávání tržeb a maskování slabší poptávky. Investoři se mohou přihlásit do 3. srpna 2026.
Philadelphia, Pennsylvania--(Newsfile Corp. - July 16, 2026) - National plaintiffs' law firm Berger Montague PC announces a class action lawsuit against Badger Meter, Inc. (NYSE: BMI) ("Badger Meter" or the "Company") on behalf of investors who purchased or acquired Badger Meter common stock during the period from April 18, 2024 through April 16, 2026 (the "Class Period").
Investor Deadline: Investors who purchased or acquired Badger Meter common stock during the Class Period may, no later than August 3, 2026, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.
Milwaukee, Wis.-based Badger Meter provides flow measurement, water quality monitoring, and control solutions to water utilities, municipalities, and industrial customers across the world.
The complaint alleges that Defendants failed to disclose that: (i) Badger Meter's reported financial results during the Class Period were at least partially the product of pulling forward customer orders to recognize revenue early, rather than the organic demand growth they described; and (ii) this revenue-acceleration practice was masking deteriorating near-term order trends and consuming revenue that would otherwise have supported future periods.
On July 22, 2025, Badger Meter's second-quarter 2025 results fell below consensus estimates, with decelerating revenue growth and narrowing margins. Management guided to a sequential sales decline in the third quarter of 2025 while dismissing the weakness as ordinary business variability. On this news, shares dropped 16.5%, falling $40.42 per share to close at $204.80 per share on July 22, 2025.
On January 28, 2026, Badger Meter's fourth-quarter 2025 results again disappointed, with revenues missing expectations and utility water sales posting a 6% sequential decline. Management attributed the shortfall to project pacing dynamics it claimed had been previously communicated. On this news, shares fell approximately 11%, dropping $18.09 per share to close at $146.32 per share.
On April 17, 2026, Badger Meter disclosed first-quarter 2026 results reflecting significant year-over-year deterioration across all key metrics. Management newly attributed part of the weakness to softer short-cycle municipal demand and revealed that such demand variability existed throughout 2023 to 2025 but had gone undetected in reported results due to elevated backlog and active project work. On this news, shares fell more than 24%, declining $36.75 per share to close at $115.54 per share.
If you are a Badger Meter investor and would like to learn more about this action, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Caitlin Adorni at [email protected] or (267) 764-4865.
About Berger Montague
Berger Montague is one of the nation's preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305372
Source: Berger Montague
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Americký Senát jednomyslně přijal rezoluci, podle níž zakladatel FTX Sam Bankman-Fried nesmí dostat prezidentskou milost ani zmírnění trestu. Bankman-Fried byl v roce 2023 odsouzen za sedm bodů souvisejících s kolapsem FTX a ztrátou více než 8 miliard USD klientských prostředků.
The Senate unanimously approved a resolution declaring that FTX founder Sam Bankman-Fried should under no circumstances receive a presidential pardon or commutation.The bipartisan measure, led by Senators Cynthia Lummis of Wyoming and Ruben Gallego of Arizona, underscores lawmakers’ view of Bankman-Fried’s role in what prosecutors called one of the largest financial frauds in U.S. history.Bankman-Fried, convicted in 2023 on seven counts related to FTX’s collapse and the loss of more than $8 billion in customer funds, is not eligible for release until around 2044, and former President Donald Trump has said he has no plans to pardon him.The Senate agreed Wednesday that Sam Bankman-Fried should never receive clemency, passing a resolution that states the FTX founder should "under no circumstances" get a pardon or commutation.
It passed by unanimous consent, a procedure that clears as a measure if not a single senator objects to it.
Senators Cynthia Lummis, a Wyoming Republican, and Ruben Gallego, an Arizona Democrat, serve as the Senate Banking Committee's digital assets subcommittee's top Republican and Democrat, respectively.
Lummis is the crypto industry's most committed advocate in Congress and has spent years writing the legislation the industry wants. She has led the effort to keep one of its most infamous figures behind bars.
"He had his day in court," Lummis said when the pair introduced the measure on June 17. Gallego's statement ended with four words: "Keep him locked up."
Bankman-Fried is not eligible for release until around 2044. A jury convicted him in November 2023 on seven counts tied to the collapse of FTX, which prosecutors called one of the largest financial frauds in U.S. history, with American customers losing more than $8 billion.
President Donald Trump said in January he had no plans to pardon Bankman-Fried. He has cleared Binance founder Changpeng Zhao and Silk Road creator Ross Ulbricht, along with other white-collar offenders.
Bankman-Fried ran two companies at once. FTX was a crypto exchange, which holds customer money the way a broker does and is not supposed to touch it. Alameda Research was a trading firm he also owned. He moved billions of dollars in FTX customer deposits to Alameda, which spent the money on trades, venture investments, political donations, and Bahamian real estate, while FTX's software exempted Alameda from the rules that would have forced it to cover its losses like any other trader.
The facade was blown open after CoinDesk obtained Alameda's balance sheet in November 2022 and found that most of what the firm counted as assets was FTT – a token FTX had created itself and could issue at will.
The collateral propping up Alameda was, in effect, something its sister company had invented. Further cracks emerged after the prominent exchange Binance said, days later, it would sell its FTT holdings, leading to a rapid collapse in FTT prices.
Customers rushed to pull their deposits, and FTX could not return the money because it was no longer there. The exchange filed for bankruptcy on Nov. 11, 2022, just over a week after the story ran.
Aave DAO navrhuje mobilní aplikaci, která spojí fiat vklady, self-custody a DeFi lending v jednom rozhraní. Po převodu na stablecoiny by prostředky automaticky mířily do Stable Vaults přes Aave.
Aave DAO has just crossed a historic milestone by offering a consumer app integrating fiat, self-custody and DeFi lending. A breakthrough that could shake up the crypto ecosystem, by providing a simple, secure and decentralized alternative to giants like Binance. Is the platform war declared?
In brief Aave App could soon see the light of day on Aave DAO’s proposal, merging fiat and DeFi for a simplified user experience. A direct challenge to Binance with superior yields and total decentralization. MiCA and regulators could limit its expansion in Europe and the United States. Aave DAO Provides Fiat, Self-Custody, and DeFi Lending in a Single Crypto App Aave DAO has officially presented its proposal for an all-in-one mobile application, designed to democratize DeFi by combining fiat on-ramp, self-custody and lending. A first in the crypto ecosystem, addressing a pressing need: making decentralized finance accessible to the general public. With Aave Push as a regulated partner, users will be able to deposit currencies directly from their bank accounts, without going through centralized exchanges.
Once the funds are converted into stablecoins (USDC, USDT, GHO), they are automatically allocated to Stable Vaults, generating returns via the Aave protocol. All without an external wallet. This is possible thanks to ERC-6900 smart accounts secured by multiple audits (Certora, ChainSecurity, etc.). But the real game-changer? Balance Protection, a DeFi insurance covering losses linked to security breaches or technical bugs. A direct response to crypto users’ fears after recent exploits (Kelp DAO, rsETH).
If Aave App Comes to Life, what About MiCA in Europe? The likely arrival of the Aave App raises a crucial question: how will it adapt to MiCA in Europe? Effective in 2024, it imposes strict obligations on crypto service providers, notably regarding KYC, transparency and stablecoin stability. With its fiat integration via Aave Push, the app will have to comply with AML (anti-money laundering) requirements and obtain specific licenses in each European country.
Moreover, additional tightening could limit its operation or force Aave to adapt its model. In the United States, for example, the SEC and FinCEN could also impose restrictions on fiat on-ramps, as they have done for Kraken or Coinbase. Will the Aave App then have to sacrifice its decentralization to survive?
The Aave App could launch and transform DeFi. But its success will depend on its adaptation to regulations like MiCA. Between innovation and compliance, the challenge is significant. And you, would you trust a 100% decentralized app against centralized crypto giants?
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Two names are dominating the DeFi leaderboard right now, and neither of them is Ethereum, Solana, or Arbitrum. Stable, a blockchain most people haven’t heard of, posted the highest 30-day TVL growth of any chain tracked by DefiLlama. Meanwhile, Monad’s total value locked surged to $621 million, fueled largely by Aave’s decision to set up shop on the high-throughput Layer 1.
Stable’s quiet breakout Stable’s 30-day TVL growth clocked in at approximately 19.70%, enough to lead every blockchain on DefiLlama’s rankings. In absolute terms, the numbers are still modest: a DeFi TVL of around $33 million and a bridged TVL exceeding $129 million.
The gap between Stable’s DeFi TVL and its bridged TVL is worth noting. A bridged TVL of $129 million against $33 million in active DeFi usage suggests a significant amount of capital is parked on the chain but not yet deployed into protocols.
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Monad’s Aave-fueled surge Monad’s story is louder and more capital-intensive. The EVM-compatible Layer 1, which has positioned itself around high throughput and parallel execution, saw its TVL reach $621 million according to the latest figures. The catalyst was clear: Aave V3 launched on Monad on July 2, 2026.
The lending giant’s arrival wasn’t subtle. The Aave market on Monad attracted $83.5 million in deposits on its first day. Within 48 hours, that figure crossed $100 million. The Monad Foundation helped grease the wheels with $15 million in incentives for early adopters.
Aave V3 on Monad supports 12 assets, including major stablecoins like USDT and USDC, along with WETH, cbBTC, and Aave’s native stablecoin GHO.
On-chain data showed that initial utilization in the Aave Monad market sat around 38%, meaning roughly half of the deposits weren’t being actively borrowed against. One asset, syrupUSDC, accounted for about 43% of the total TVL in the Aave Monad market.
The growth trajectory Monad’s TVL trajectory has been steep even before Aave entered the picture. The chain went from roughly $80 million in TVL back in November 2025 to over $400 million by April 2026. The Aave deployment then pushed it to its current level of $621 million.
What this means for investors For Monad specifically, the 38% utilization rate is the number to watch. Healthy lending markets typically see utilization between 40% and 80% depending on the asset. If borrowing demand picks up as more protocols deploy on Monad, the ecosystem starts to look sustainable. If utilization stays low and syrupUSDC continues to dominate the deposit base, the $621 million TVL figure might be more fragile than it appears.
Stable presents a different risk profile. A $33 million DeFi TVL means the chain is early, possibly very early. Early-stage chains offer outsized growth potential but come with thinner liquidity, fewer audited protocols, and higher smart contract risk. The 19.70% monthly growth rate is impressive on a percentage basis, but it doesn’t take much capital movement to shift the numbers at that scale.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
East West Bancorp má za čtvrtletí vykázat zisk 2,61 USD na akcii, tedy o 14,5 % více než před rokem. Výnosy mají dosáhnout 785,94 milionu USD, což je meziročně o 11,8 % více.
The upcoming report from East West Bancorp (EWBC - Free Report) is expected to reveal quarterly earnings of $2.61 per share, indicating an increase of 14.5% compared to the year-ago period. Analysts forecast revenues of $785.94 million, representing an increase of 11.8% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain East West Bancorp metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Net interest margin' of 3.5%. Compared to the present estimate, the company reported 3.4% in the same quarter last year.
Analysts predict that the 'Efficiency ratio' will reach 35.4%. The estimate is in contrast to the year-ago figure of 36.4%.
It is projected by analysts that the 'Average Balance - Total interest-earning assets' will reach $79.83 billion. The estimate is in contrast to the year-ago figure of $73.90 billion.
The combined assessment of analysts suggests that 'Total nonperforming assets' will likely reach $221.84 million. Compared to the current estimate, the company reported $171.68 million in the same quarter of the previous year.
The consensus among analysts is that 'Leverage ratio' will reach 11.0%. Compared to the current estimate, the company reported 10.6% in the same quarter of the previous year.
Analysts expect 'Tier 1 capital ratio' to come in at 15.2%. The estimate is in contrast to the year-ago figure of 14.5%.
Analysts' assessment points toward 'Total capital ratio' reaching 16.5%. Compared to the current estimate, the company reported 15.8% in the same quarter of the previous year.
Analysts forecast 'Total nonaccrual loans' to reach $186.16 million. Compared to the current estimate, the company reported $139.45 million in the same quarter of the previous year.
The consensus estimate for 'Total Noninterest Income' stands at $98.34 million. Compared to the present estimate, the company reported $86.18 million in the same quarter last year.
According to the collective judgment of analysts, 'Net Interest Income' should come in at $687.82 million. The estimate compares to the year-ago value of $617.07 million.
The average prediction of analysts places 'Commercial and consumer deposit-related fees' at $30.01 million. The estimate is in contrast to the year-ago figure of $26.87 million.
Based on the collective assessment of analysts, 'Lending fees' should arrive at $26.23 million. Compared to the current estimate, the company reported $25.59 million in the same quarter of the previous year.
View all Key Company Metrics for East West Bancorp here>>>
Over the past month, East West Bancorp shares have recorded returns of +4.1% versus the Zacks S&P 500 composite's +0.5% change. Based on its Zacks Rank #3 (Hold), EWBC will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Workers straighten the Truth Social booth at the Great American State Fair celebrating the 250th anniversary of U.S. independence in Washington, D.C., U.S., July 2, 2026. REUTERS/Jonathan Ernst Purchase Licensing Rights, opens new tab
July 16 (Reuters) - Trump Media & Technology Group (DJT.O), opens new tab on Thursday launched Truth API, a licensed data feed that will provide financial services companies with "the fastest" access to posts from the highest-ranking Truth Social accounts.
The paid-for API (application programming interface) is aimed at giving "immediate, verified access to information" on Truth Social to organizations that prioritize tracking influential posts on the platform, the company said in a statement.
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"Until now... firms that prioritize tracking influential Truth posts have relied on manual monitoring. Truth API closes the gap," it said, adding that the feed is designed for businesses "most impacted by the cost of a delay in information" such as algorithmic trading firms.
The API will be significantly faster than scraping Truth Social data, Trump Media interim CEO Kevin McGurn said in an interview with Axios earlier in the day.
The product, available to enterprise customers starting August, is expected to create a new revenue stream for the company.
It will provide round-the-clock coverage of influential posts on Truth Social and include an archive of posts dating back to 2022.
Reporting by Deborah Sophia in Bengaluru; Editing by Shilpi Majumdar
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ETRADE, a subsidiary of Morgan Stanley, has completed its rollout of spot services for Bitcoin, Ethereum, and Solana, enabling eligible clients to buy, sell, and hold these cryptocurrencies directly within their brokerage accounts. The service, which comes with a transaction fee of 50 basis points, marks a significant integration of traditional finance with the crypto market. This offering positions ETRADE competitively against other major platforms like Charles Schwab and Coinbase, which have higher fees. While the platform currently does not support transfers to external wallets, such functionality is expected to be added later this year.
Market participants appear to have responded positively to this development, particularly regarding the potential impact on Solana. The move may indicate increased demand and activity, contributing to market expectations of Solana’s price movement. Notably, this development coincides with a broader trend of traditional financial institutions embracing cryptocurrencies, potentially sparking a competitive environment around retail crypto fees.
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The introduction of spot access for these cryptocurrencies by a major financial institution like Morgan Stanley’s E*TRADE suggests increased mainstream acceptance and integration of digital assets. The market’s reaction appears consistent with scenarios where Solana could see heightened demand and volume.
Key Takeaways E*TRADE’s rollout of spot access for cryptocurrencies appears consistent with increased mainstream acceptance of digital assets. Market pricing suggests participants view this as supportive of increased Solana demand, potentially impacting its price. The competitive fee structure could lead to a broader retail crypto fee competition among traditional financial platforms. What to Watch Watch for potential announcements regarding the implementation of external wallet transfers, which could further influence market dynamics. Additionally, observe any strategic responses from competitors like Charles Schwab and Coinbase that may impact fee structures and market share. Solana’s price movements in the coming weeks will provide further insight into the market’s reaction to this integration, particularly if demand and volume increase as expected.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 11.5% — — View market → August 1 2026 0.4% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.4% — — View market → August 1 2026 1% — — View market → August 1 2026 0.9% — — View market → August 1 2026 3.8% — — View market → August 1 2026 0.5% — — View market → August 1 2026 8.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.2% — — View market → August 1 2026 0.1% — — View market → August 1 2026 40.5% — — View market →
Aduro a ECOCE dokončily mapování vstupních surovin v Mexiku a vybrané flexibilní plastové obaly nyní míří do testů HCT. Cílem je ověřit jejich přeměnu na kapalné uhlovodíky.
LONDON, Ontario, July 16, 2026 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (Nasdaq: ADUR) (TSX: ACT) (FSE: 9D5), a clean technology company using the power of chemistry to transform lower-value feedstocks, like waste plastics, heavy bitumen, and renewable oils, into resources for the 21st century, today announced that its collaboration with ECOCE, A.C. (“ECOCE”) has advanced to the next phase following completion of Phase 1 feedstock mapping and stream selection. Selected post-consumer flexible plastic packaging streams in Mexico are now moving into a Hydrochemolytic™ Technology (“HCT”) test campaign to evaluate their conversion into liquid hydrocarbon products for downstream circular plastics applications.
The collaboration, announced in December 2025, is structured as a phased, data-driven evaluation of flexible plastic packaging collected through recovery systems in Mexico. Phase 1 drew on ECOCE’s ongoing national feedstock mapping program, conducted for its member companies, from which the parties completed the selection of candidate material streams for the next stage of work. Led by ECOCE, the mapping identified multiple post-consumer flexible packaging streams and assessed them for estimated availability, collection routes, physical form, contamination profile, and preparation requirements. The work identified candidate streams with sufficient available volume to support an industrially relevant evaluation and with material characteristics that warrant advancement to HCT testing.
Flexible plastic packaging is one of the most difficult material categories to manage within existing recycling systems. These streams can include polyethylene, polypropylene, and multilayer packaging formats, along with inks, adhesives, mixed structures, small formats, and varying levels of contamination. In line with the waste hierarchy, reduction, reuse, and mechanical recycling remain preferred options where they are technically and economically viable. For flexible packaging streams that are not well suited to mechanical or physical recycling, the collaboration is evaluating whether HCT can provide a route to recover hydrocarbon value from these materials and help return them to the plastics value chain.
ECOCE has identified flexible plastic packaging as a major and growing material category in Mexico, with available data indicating that approximately 1.5 million tonnes of flexible plastic packaging are generated annually in the country. Phase 1 has built on that market context by mapping candidate flexible and multilayer plastic packaging waste streams, including material categories, collection routes, geographic sourcing, and indicative contamination levels. The materials mapped through Phase 1 include flexible polypropylene packaging, flexible polyethylene packaging, and multilayer flexible packaging, including common post-consumer formats such as snack and cookie wrappers, grocery and bread bags, seed and grain packaging, pet food packaging, cold-cut and dairy packaging, and resealable pouch formats.
ECOCE’s work with leading food and beverage companies, representing more than 400 brands, gives the collaboration practical relevance to packaging value-chain priorities and the need for credible circularity options for difficult-to-recycle flexible packaging. The objective is to build an evidence-based understanding of how selected flexible packaging streams can move through a circular value chain: from post-consumer collection and characterization, through feedstock preparation and HCT conversion, to liquid hydrocarbon products for evaluation by petrochemical and polymer value chains.
With Phase 1 complete and the next-phase testing program defined, the collaboration now moves into HCT testing of selected material streams. Aduro will begin with lab-scale evaluation to assess how selected Mexican flexible and multilayer plastic waste streams respond to HCT, including processability, product characteristics, yield, residues, contaminant behaviour, and mass balance. As part of this next phase, Adrián Velasco, Director of Flexible Plastic Packaging at ECOCE, will visit Aduro facilities to review the testing pathway, sample requirements, and pilot-scale development program. The visit will help align ECOCE’s knowledge of recovery systems in Mexico with the Company’s technical evaluation process as selected streams move from feedstock mapping into HCT testing. Successful lab-scale results will inform progression to Phase 3 testing on the Next Generation Process (“NGP”) Pilot Plant to support scale-up assessment, customer evaluation, and future commercial analysis.
“Phase 1 has moved this collaboration from a market opportunity into a defined technical feedstock program,” said Ofer Vicus, CEO of Aduro. “ECOCE brings practical insight into how flexible packaging moves through Mexican recovery systems, helping us select representative material streams for HCT testing. The next phase will generate the data that matters for scale-up and economics, including processability, product quality, yield, contaminant behaviour, and the potential value of HCT-derived liquids as circular hydrocarbon feedstocks. This is how Aduro advances commercialization: by connecting real materials, downstream requirements, economic validation, and a clear pathway from lab testing to the NGP Pilot Plant.”
“Flexible plastic packaging is one of the most important material-management challenges in Mexico,” said Adrián Velasco, Director of Flexible Plastic Packaging at ECOCE. “Through this collaboration, ECOCE is helping connect real recovery-system data with the technical work needed to evaluate circular solutions for these materials. My visit to Aduro facilities as the collaboration moves into HCT testing will allow us to review the testing pathway directly, align on sample requirements, and better understand how selected Mexican flexible packaging streams could be evaluated for return to the plastics value chain.”
Results from the next phase will give Aduro and ECOCE the technical and economic evidence to help assess material suitability, product quality, scale-up requirements, and future commercial options for returning difficult-to-recycle flexible packaging to the plastics value chain.
About ECOCE
ECOCE, A.C. is a non-profit civil association in Mexico created and supported by the food and beverage industry to promote the proper management, collection, and recycling of post-consumer packaging waste. ECOCE brings together leading beverage and food companies, representing more than 400 brands, along with strategic allies working to advance circular economy practices for packaging in Mexico.
ECOCE works with industry, government, educational institutions, civil society, and citizens to strengthen recycling culture, support proper separation and recovery of packaging materials, and help direct post-consumer packaging into recycling systems. As ECOCE expands its focus from PET and other established material streams to flexible plastic packaging, it brings practical knowledge of Mexico recovery systems, packaging formats, collection infrastructure, and member-company circularity priorities. For further information, visit www.ecoce.mx.
About Aduro Clean Technologies
Aduro Clean Technologies is a developer of patented water-based technologies to chemically recycle waste plastics; convert heavy crude and bitumen into lighter, more valuable oil; and transform renewable oils into higher-value fuels or renewable chemicals. The Company’s Hydrochemolytic™ technology relies on water as a critical agent in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into resources for the 21st century. For further information, visit www.adurocleantech.com.
For further information, please contact:
Abe Dyck, Head of Corporate Development / Investor Relations [email protected]
+1 226 784 8889
Carla Gamboa
Director of Marketing & Communications [email protected]
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws, including the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release include, but are not limited to: statements regarding the collaboration between Aduro and ECOCE; the characterization, selection, and evaluation of Mexican flexible plastic packaging streams; the potential application of Aduro Hydrochemolytic™ Technology to post-consumer flexible plastic packaging; the planned progression from lab-scale testing to potential Next Generation Process Pilot Plant trial runs; the potential generation of product-quality, mass-balance, scale-up, customer evaluation, technical, and commercial assessment data; market demand for circular feedstocks; the potential for HCT-derived hydrocarbon products to support petrochemical and polymer value chains; the potential development of business models or future HCT-based facilities in Mexico; and broader commercialization and market development plans.
Forward-looking statements are based on management current expectations and assumptions, including assumptions regarding: the availability, quality, composition, and suitability of feedstock streams; the ability of ECOCE to provide relevant feedstock information; the ability of Aduro to conduct staged technical testing; the performance of HCT across selected material streams; the scalability of results from lab-scale testing and NGP Pilot Plant operations; the availability of partners, customers, facilities, capital, and regulatory approvals; continued demand for circular feedstocks; and the stability of policy, market, and economic conditions supporting circular plastics. These statements are subject to a number of risks and uncertainties, including, but not limited to: the risk that selected materials may not be suitable for HCT processing; the risk that lab-scale or NGP Pilot Plant results may not support commercial application; the risk that product quality, yield, mass balance, or economics may not meet expectations; challenges in sourcing, preparing, shipping, or processing feedstock; delays in testing, analysis, contracting, permitting, financing, or partner engagement; changes in regulatory frameworks or market acceptance of circular feedstocks; competition from other recycling or waste-management pathways; risks related to the Company’s technology and intellectual property; risks related to market acceptance and commercialization; risks related to changes in laws, regulations, or policies; and other factors described in the Company’s public filings available at www.sedarplus.ca and on the SEC’s website at www.sec.gov. Actual results may differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, Aduro undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c6e45f47-4c07-4bdd-a9fa-758574558e87
EU nařídila Googlu otevřít 11 funkcí Androidu rivalům v oblasti AI a sdílet data z vyhledávání s OpenAI a dalšími AI chatboty s vyhledávacími funkcemi. Změny mají začít od ledna příštího roku, část pro uživatele od července 2027.
FILE PHOTO: A specially designed Google logo, during the opening of Google's new Artificial Intelligence (AI) centre in Berlin, Germany, March 5, 2026. REUTERS/Annegret Hilse/File Photo Purchase Licensing Rights, opens new tab
CompaniesBRUSSELS, July 16 (Reuters) - Alphabet's (GOOGL.O), opens new tab Google will have to help OpenAI and other AI rivals as well as online search engine competitors access its services to comply with EU rules curbing the power of Big Tech, EU regulators said as they set out the details of the requirements.
The move by the European Commission, which acts as the EU competition enforcer, came six months after the regulator opened so-called specification proceedings to assist the world's most popular internet search engine to comply with the Digital Markets Act.
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Google reiterated its criticism of the EU-mandated changes.
"Today's decisions risk undermining vital privacy and security guardrails for millions of Europeans," Google's lawyer Kent Walker said in an email.
"We have repeatedly offered solutions to safeguard users while satisfying the DMA's goals, but these rulings discount extensive evidence of user harm," he said.
The Commission said Google will open up 11 features on its Android operating system to AI rivals to access key functionalities and better compete with Google's Gemini AI service.
This would mean that users can activate a rival AI assistant via voice commands, similar to the 'hey Google' command, to book a taxi or search for information on places. Users will benefit from the changes from July 2027 in the next iteration of Android.
The Commission said the measures contain robust safeguards to protect users' privacy and device security, and that Google will only offer the 11 features to rivals who fulfil security and privacy criteria.
The EU decision also requires Google to share the data that it collects to optimise its own search services with OpenAI and other AI chatbots with search functionalities, subject to anonymisation.
Google can first assess whether rivals pose cybersecurity and data protection risks before it opens up to them. The EU measure, which will be implemented from January next year, includes a formula to calculate the price of the shared data.
"Thanks to these measures we hope to see emerging alternatives to Google Search and Google's AI services, such as Gemini, and that users in the EU can enjoy greater choice of services," EU tech chief Henna Virkkunen said in a statement.
Reporting by Foo Yun Chee; Editing by Kirsten Donovan
Our Standards: The Thomson Reuters Trust Principles., opens new tab
An agenda-setting and market-moving journalist, Foo Yun Chee is a 21-year veteran at Reuters. Her stories on high profile mergers have pushed up the European telecoms index, lifted companies' shares and helped investors decide on their next move. Her knowledge and experience of European antitrust laws and developments helped her break stories on Microsoft, Google, Amazon, Meta and Apple, numerous market-moving mergers and antitrust investigations. She has previously reported on Greek politics and companies, when Greece's entry into the eurozone meant it punched above its weight on the international stage, as well as on Dutch corporate giants and the quirks of Dutch society and culture that never fail to charm readers.
Alphabet zve na výsledky za druhé čtvrtletí 22. července po uzavření trhu; analytici čekají EPS 2,88 USD a tržby 113,63 miliardy USD. Akcie jsou nyní o 0,74 % výše na 372,94 USD.
Alphabet Inc. (NASDAQ:GOOG) shares are in the spotlight Thursday, with earnings on deck and a notable technical setup both converging.
Alphabet shares are trending higher. What’s pushing GOOG stock higher? Earnings Expectations & HistoryAlphabet is expected to report second-quarter earnings on July 22 after market close, with analysts forecasting earnings per share of $2.88 and revenue of $113.63 billion. In the most recent quarter, Alphabet reported earnings per share of $5.11, beating estimates of $2.63 by 0.94%. Revenue came in at $109.90 billion, exceeding the estimate of $104.07 billion by 0.06%.
Alphabet has beaten EPS estimates in 8 consecutive quarters. Over the last 4 quarters, Alphabet has averaged an EPS surprise of 0.34% and a revenue surprise of 0.08%.
What To WatchGoogle Cloud is in focus after growing 63% year-over-year in Q1, faster than Azure and AWS, especially with Meta’s new cloud compute ambitions signaling fresh competition. Also key: progress on Alphabet’s custom AI chips, as the company begins selling capacity to outside cloud providers, and capital expenditure guidance, set at $180 billion to $190 billion for 2026.
A Bullish Backdrop With Short-Term WrinklesFrom a trend perspective, Alphabet remains extended above its longer-term baselines: it’s trading 16.9% above the 200-day SMA ($319.91) and 9.5% above the 100-day SMA ($341.74), which keeps the bigger-picture uptrend intact. The stock is also 5.2% above the 20-day SMA ($355.64), suggesting the recent rebound has regained some traction.
The near-term moving-average structure is a bit mixed, though: the 20-day SMA is still below the 50-day SMA (a bearish short-term crossover), even as the 50-day SMA remains above the 200-day SMA (a golden-cross backdrop that typically supports longer-term dip-buying). That combination often produces "two-speed" trading—pullbacks can be sharp, but buyers tend to show up as long as the longer averages keep rising.
For momentum, MACD is the cleaner read right now: it’s above its signal line and the histogram is positive, which points to improving momentum versus the prior downswing. In plain terms, MACD being above the signal line suggests downside pressure is easing, and the rebound is gaining follow-through.
Key Resistance: $404.50 — sitting right at the 52-week high zone ($404.47), a level that often caps rallies on the first retest Key Support: $343.50 — near a prior pivot area and close to the 100-day SMA ($341.74), a zone that can attract buyers on pullbacks Benzinga Edge RankingsBelow is the Benzinga Edge scorecard for Alphabet, highlighting its strengths and weaknesses compared to the broader market:
Alphabet Shares Edge HigherGOOG Price Action: At the time of publication, Alphabet shares are trading 0.74% higher at $372.94, according to data from Benzinga Pro.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Boeing je v závěrečné fázi získání regulační certifikace opravy systému proti námraze motoru pro 737 MAX, což má otevřít cestu verzím MAX 7 a 10 k dodávkám. MAX 10 je už z 98 % hotov v certifikačních letových testech.
SummaryCompaniesMAX 7 and 10 versions cannot be certified until system fixedOperating MAX planes will need to be retrofitted with new systemMAX 10 is 98% through certification flight testing, executive saysSEATTLE, July 16 (Reuters) - Boeing (BA.N), opens new tab is in the final stages of getting regulatory certification for an engine anti-ice system fix for its 737 MAX jetliner, company executives said, paving the way for the long-delayed MAX 7 and 10 versions to enter service.
The redesign addresses an issue that could cause overheating and possible engine failure and has been the biggest obstacle to certification of the smallest and largest versions of Boeing's best-selling jet.
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Boeing has already built about 30 MAX 7s and nine MAX 10s awaiting delivery, according to aviation analytics firm Cirium. The larger MAX 10 accounts for at least 28% of outstanding MAX orders.
The U.S. Federal Aviation Administration said in May it expected to certify the smaller 737 MAX 7 this summer. Southwest Airlines (LUV.N), opens new tab is the biggest customer for that version.
The more profitable MAX 10 is 98% through certification flight testing, executives told reporters ahead of next week's Farnborough Airshow.
"We have two flight tests left, and we should be done real soon here," said Chris Payne, Boeing vice president and general manager for 737 MAX development programs.
YEARS BEHIND SCHEDULECertification of the MAX 7 and 10 is years behind schedule, which has allowed European planemaker Airbus (AIR.PA), opens new tab to expand its lead in the narrowbody market.
Boeing has had to work through a more stringent certification process following two fatal MAX 8 crashes in 2018 and 2019, as well as scrutiny of the company's production and quality systems after a January 2024 mid-air cabin panel blowout on a nearly new Alaska Airlines MAX 9.
After the anti-ice system issue was discovered in 2021, regulators allowed the MAX variants already in service - the MAX 8, 8-200 and 9 - to continue flying and for Boeing to keep making them but delayed certification of the other versions.
The fix to the system also reduces engine noise and mitigates fan flutter, based on testing at GE Aerospace's (GE.N), opens new tab facility in Ohio, said Mike Sinnett, Boeing's senior vice president of product strategy, product development and development programs.
"It was kind of win-win all around," he said.
The 737 MAX's LEAP-1B engine is produced by CFM International, a joint venture of GE Aerospace and France's Safran (SAF.PA), opens new tab.
For the existing MAX fleet, Boeing says most of the engine anti-ice retrofit can be done within a maintenance shift, but it also requires installing new wiring that is more invasive.
Executives said Boeing was working with regulators on a schedule that would allow airlines to make the repair when their planes are already in the hangar for heavy maintenance checks, reducing disruption and costs.
The MAX 10 will also introduce an updated flight crew alerting system, known as an enhanced angle-of-attack system, to meet safety requirements imposed by Congress following the two MAX crashes that killed 346 people and led to the model's 20-month grounding beginning in 2019.
The system simplifies flight-deck alerts resulting from a failed angle-of-attack sensor, which overwhelmed pilots with too much information before the planes crashed in Indonesia and Ethiopia.
The update is "an IOU from the return-to-service (requirements) after the very unfortunate accidents," said Bill Quashnock, Boeing's 737 deputy chief pilot.
All in-service 737 MAX jets will have the new system installed within two years after regulators certify it, he said.
Boeing is also more than 50% through certification flight testing for the 777-9 and is "on track" to start delivering the new widebody jet next year, said Terry Beezhold, Boeing vice president and general manager of the 777-9 program.
The company still has to complete several major certification requirements, including getting regulatory approval for long-distance flights with few airports in between.
Reporting by Dan Catchpole in Seattle; Editing by Jamie Freed
Our Standards: The Thomson Reuters Trust Principles., opens new tab
SummaryTSMC and ASML both raised guidance, confirming AI infrastructure remains supply constrained, while Rubin's N3 node is fully booked and CoWoS capacity expands nearly 50%.Nvidia's Kyber delay concerns appear limited to Rubin Ultra, leaving mainstream Rubin NVL72 deployments and near-term revenue expectations largely unchanged.Qualification of Samsung, SK hynix and Micron for HBM4 reduces supply-chain risk as the industry shifts toward higher-capacity 16-Hi HBM4 memory.Despite 82% projected FY2027 revenue growth, Nvidia's valuation compresses materially, while upstream capacity expansion suggests AI infrastructure investment remains in its early stages. Getty Images
I believe that the market is getting too focused on Nvidia's (NVDA) quarterly results execution and failing to acknowledge the most robust indication of its outlook. The most bullish signals are no longer coming from
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of NVDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
NVIDIA ve 1. čtvrtletí fiskálního roku 2027 zvýšila tržby o 85,2 % na 81,615 miliardy USD a čistý zisk o 210,63 %. Firma zároveň zvýšila dividendu z 0,01 na 0,25 USD na akcii a schválila dalších 80 miliard USD na zpětné odkupy.
I keep buying NVIDIA. Every paycheck, every pullback, every time the headlines swing bearish on AI capex, I click buy again on NVIDIA (NASDAQ:NVDA | NVDA Price Prediction). This is the single position I trust to compound retirement capital through the AI decade, and my conviction has almost nothing to do with the chips themselves.
What pulls me back to the buy button is the CUDA software ecosystem, embedded across two decades into every major AI framework, library, and developer workflow. Enterprise customers who try to leave face migration costs and operational risk they refuse to swallow. Jensen Huang described the platform on the last call as “the only platform that runs in every cloud, powers every frontier and open source model, and scales everywhere AI is produced.” That reads to me as a toll road on global AI development.
The Receipts Behind My Conviction The financials show what a software moat looks like when it meets a demand cycle. Q1 fiscal 2027 revenue landed at $81.615 billion, up 85.2% year over year, with non-GAAP EPS of $1.87 topping the $1.7738 consensus. Data Center revenue hit $75.246 billion, up 92%, with networking alone up 199%. Net income grew 210.63%, outrunning revenue growth. That is operating leverage I can measure.
Margins tell the pricing-power story. Non-GAAP gross margin expanded to 75.0% from 60.8% a year earlier. Return on equity sits at 101.5%, ROIC at 92.2%, and debt/equity at 0.073. Free cash flow in the quarter reached $48.554 billion. Management responded by raising the dividend from $0.01 to $0.25 per share and authorizing an additional $80.0 billion in buybacks with no expiration. In Q1 alone, roughly $20.0 billion was returned to shareholders.
Then there is visibility. Total supply-related commitments stand at $119.0 billion, backed by multi-year deals with Meta Platforms (NASDAQ:META) for millions of Blackwell and Rubin GPUs, OpenAI’s 10-gigawatt deployment commitment, and CoreWeave’s 5-plus gigawatt buildout through 2030. Guidance for Q2 calls for $91.0 billion in revenue at the same 75% gross margin, and that guide excludes China entirely.
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Why Not the Obvious Alternative The name a reader reaches for first is AMD (NASDAQ:AMD). I keep passing. Nothing available to me shows an AMD data-center business growing at NVIDIA’s 92% pace, a networking line expanding 199%, or gross margins near 75.0%. CUDA is the reason. Every framework optimization, every NIM microservice, every Dynamo release lands on NVIDIA silicon first. AMD ships capable chips into a software world that already speaks CUDA. That gap is what my capital is really paying for.
The Risk I Take Seriously The risk I take seriously is customer concentration meeting custom silicon. Hyperscalers are roughly 50% of Data Center revenue, and Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), and Meta are all funding in-house accelerators. China has already been erased from guidance, costing the $4.6 billion that the year-ago quarter carried. What keeps the thesis intact for me is that Blackwell remains, in Huang’s words, “off the charts,” with cloud GPUs sold out. The same customers funding rival silicon are simultaneously signing multi-gigawatt NVIDIA contracts.
Why the Buy Button Stays Active At a forward P/E of 24x against triple-digit net income growth, a fortress balance sheet, and $119 billion in booked supply, I consider that a reasonable price for the operating system of the AI economy (247’s 7 Stocks Powering the AI Boom report frames the broader stack well). As long as CUDA remains the language every serious model is trained and served in, my next buy is already scheduled.
Meet America's Newest $1b Unicorn (Sponsor) A US startup just passed a $1 billion private valuation, joining billion-dollar private companies like OpenAI and ByteDance. Unlike those other unicorns, you can invest in EnergyX right now; but only until July 16.
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FCC podle zprávy zvažuje, že „The View“ není skutečný zpravodajský pořad, což by ABC podřídilo pravidlům o vyváženém vysílacím čase. Zároveň má eskalovat i kontrola vysílacích licencí společnosti Disney.
The Federal Communications Commission is preparing to rule that ABC’s “The View” is not a bona fide news program, a decision that would upend more than two decades of precedent and subject the Disney-owned daytime talk show to federal equal-time rules for political candidates, according to a report.
Bloomberg reported Wednesday that the FCC is also expected to escalate a separate investigation into Disney’s broadcast television licenses, moving the matter toward an administrative hearing that could ultimately threaten ABC-owned stations in New York, Los Angeles and other major markets.
The anticipated rulings, which people familiar with the matter told Bloomberg could come before Labor Day, would represent the most aggressive regulatory action against a major US broadcaster in decades and mark a significant victory for FCC Chairman Brendan Carr’s effort to overhaul how the agency polices political programming.
The Federal Communications Commission is poised to rule that ABC’s “The View” is not a bona fide news program, according to a report. American Broadcasting Companies, Inc. via AP If the FCC strips “The View” of its longstanding news exemption, the program generally would have to offer rival candidates comparable airtime when it interviews someone running for office — a requirement ABC argues would fundamentally alter its editorial discretion.
Disney is expected to challenge any adverse rulings, according to Bloomberg.
The FCC Media Bureau’s ruling on “The View” could be appealed to the full FCC and then to federal court, while the separate license proceeding could eventually be heard by FCC Chairman Brendan Carr or the full commission before any judicial appeal.
The Post has sought comment from ABC and its parent company, Disney, as well as from the FCC.
The dispute began after “The View” interviewed Texas Democratic Senate candidate James Talarico in February, prompting questions from the FCC about whether rival candidates were entitled to equal airtime under federal broadcast law.
Carr subsequently opened an inquiry into whether “The View” qualifies for the equal-time exemption afforded to bona fide news interview programs.
FCC Chairman Brendan Carr has launched parallel reviews of ABC’s broadcast licenses and “The View’s” status as a bona fide news program. REUTERS
The FCC is reportedly preparing to escalate its review of Disney’s broadcast licenses for ABC-owned television stations. Getty Images In May, ABC and its Houston affiliate asked the FCC to reaffirm a 2002 agency ruling that designated “The View” a bona fide news interview program exempt from the equal-time requirement.
ABC escalated the fight earlier this month, arguing in reply comments that the FCC was attempting to insert itself into the network’s editorial decisions.
“The First Amendment does not permit the government to sit in an editor’s chair,” the ABC filing states.
Semafor reported earlier this month that “The View” has quietly scaled back bookings of candidates running in competitive races while the FCC’s review remains pending.
ABC parent company Disney has vowed to fight any adverse ruling from the FCC. AP The outlet also reported that producers declined a request from New York City Mayor Zohran Mamdani’s team to host the mayor alongside Democratic congressional nominees Darializa Avila Chevalier and Claire Valdez while proceeding cautiously amid the FCC inquiry.
Meanwhile, conservative organizations including the Media Research Center, America First Legal, the Center for American Rights and the Article III Project have urged the FCC to deny renewal of ABC’s broadcast licenses, accusing the network of political bias and failing to serve the public interest.
UnitedHealth navzdory poklesu počtu členů v Medicare Advantage zvýšil celoroční výhled zisku. Ve čtvrtletí vykázal provozní cash flow 11,1 miliardy USD a výhled cash flow zvýšil na zhruba 24 miliard USD.
Yet, instead of lowering expectations, the nation’s largest health insurer raised its full-year earnings guidance, suggesting Wall Street may be paying attention to something far more important than membership growth.
Quality Over QuantityFor years, Medicare Advantage enrollment has been one of the healthcare sector’s most closely watched growth metrics. More members typically translate into higher premium revenue and greater market share.
UnitedHealth’s latest results challenge that assumption.
CEO Stephen Hemsley framed the quarter as evidence that UnitedHealth’s strategy is centered on “simplify how we operate, improve both affordability and the health care experience for patients and care providers and apply modern technology to create real improvement for people.”
A Different Kind Of TurnaroundThe numbers suggest UnitedHealth is prioritizing profitability over membership growth.
While Medicare enrollment declined, improved pricing, disciplined medical cost management and operational efficiencies more than offset the impact. The company also generated $11.1 billion in operating cash flow during the quarter and increased its full-year cash flow outlook to roughly $24 billion, reinforcing management’s confidence in the business.
For investors, that marks a notable shift in the way UnitedHealth’s performance may be judged. Instead of asking how many members the company is adding, the market appears increasingly focused on how efficiently it can serve the members it already has.
The Next Number To WatchThe membership decline won’t disappear from the investment debate.
If Medicare Advantage enrollment continues to fall over multiple quarters, investors will eventually begin questioning whether pricing discipline can continue offsetting slower growth. But if UnitedHealth keeps improving margins while maintaining its earnings outlook, the company’s strategy could reshape what Wall Street considers the most important metric in managed care.
For now, UnitedHealth’s latest quarter delivered an unexpected message: in today’s healthcare market, fewer members don’t necessarily mean a weaker business.
Image via Shutterstock
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Salesforce klesl od prosincového vrcholu v roce 2024 o více než 50 % kvůli obavám ze zpomalení růstu a „SaaSpocalypse“. Tržní kapitalizace spadla z více než 347 miliard USD na zhruba 136 miliard USD.
Salesforce stock has plunged by more than 50% from its December 2024 peak as concerns about its growth outlook have intensified. Its market capitalization has fallen from more than $347 billion to about $136 billion, and the selloff could continue as investors remain concerned about the company's strategy and long-term growth prospects.
CRM stock has been in a steep decline over the past few years as concerns about its growth have escalated. Recently, the stock has dropped because of the rising SaaSpocalypse fears.
SaaSpocalypse is a relatively new term referring to fears that AI agents will replace traditional software and the “per seat” pricing model. A good example of this is what Starbucks is doing.
According to Bloomberg, the company is now building its own AI-assisted replacement for a Microsoft system that tracks inventory and an IBM solution that manages maintenance. It aims to save the $400 million it spends annually on software.
The fears in the software industry escalated this week after IBM published its financial results. IBM said that its business slowed as customers reprioritized their capital expenditure, redirecting it towards hardware purchases like servers and memory.
Salesforce’s organic growth has been slowing for a while. The most recent results showed that its revenue rose by 13% in the first quarter. While this growth is solid for a company that has been in business for years, it was not organic. Its $11.1 billion revenue included $444 million from Informatica, a company it acquired in a $8 billion deal.
The company has been one of the most acquisitive ones in the US. It has spent billions of dollars acquiring firms like Own Company, Fin, Bluebirds, Tableau, and Slack.
Analysts expect that Salesforce’s business will remain under pressure in the coming months. The average estimate is that its revenue jumped by 10% in the last quarter to $11.32 billion. Its annual revenue is expected to be $46.1 billion, followed by $50.4 billion next year.
At face value, there are signs that Salesforce stock has become a bargain. For one, its Non-GAAP forward price-to-earnings ratio has dropped to 11.8, well below the sector median of 24. Its five-year average stands at 24.
Similarly, the forward PEG ratio stands at 0.73, also lower than other companies in the tech industry. The challenge, however, is that these valuation metrics include the extra funds made from its Informatica buyout.
As a result, the company will need more growth catalysts over time. One of this catalysts will be its Agentforce and data segments, whose annual recurring revenue soared to $3.4 billion, a 200% jump. It has deployed over 3.8 billion Agentic Work Units (AWU) across Agentforce and Slack.
READ MORE: Salesforce stock falls after KeyBanc downgrade on AI growth concerns
Salesforce stock chart | Source: TradingView
The weekly chart shows that the CRM share price has slumped in the past few years, moving from a record high of $367 to a low of $146. It remains below the 50-week Exponential Moving Average (EMA).
The stock has also remained below the Supertrend indicator and the 78.6% Fibonacci Retracement level.
Therefore, the stock will likely remain under pressure in the near term. In this, it may drop and retest the year-to-date low of $146.
In the long-term, however, the stock will likely bounce back as investors buy the dip in software stocks.
Emerson představil software, který automatizuje plánování ropy a míchání produktů v rafineriích. Firma říká, že to má zvýšit marže a zrychlit reakci na volatilitu trhu.
New software solutions integrate planning and scheduling processes to accelerate decision-making
Crude Schedule Optimization and Multi-Blend Optimization available in a single, integrated platform Improves refinery margins by automating time-intensive manual workflows Enables refineries to respond more quickly to market volatility and optimize product blending , /PRNewswire/ -- Global automation leader Emerson (NYSE: EMR) has introduced software that automates two of refining's most time-intensive and margin-critical processes: crude scheduling and product blending. The new solutions enable refineries to increase operating margins, improve efficiency and respond faster to market changes.
Customers use Aspen Unified Scheduling™ (AUS) to eliminate the disconnected tools and manual data gathering that make scheduling harder during volatile markets. AUS now adds two new products – Crude Schedule Optimization and Multi-Blend Optimization – that bring planning, scheduling and blending into one platform. As a result, customers can turn optimal plans into realistic schedules fast enough to keep up with changing market conditions.
"Refinery schedulers are managing more complexity and greater crude market volatility, with the same hours in the day," said Claudio Fayad, chief technology officer at Emerson's Aspen Technology business. "By automating the most time-intensive workflows within a unified platform, our solutions free experienced teams to focus on higher-value decisions while enabling newer engineers to contribute faster. The result is stronger margins and better operational decisions across the organization."
Optimizing Crude Scheduling
Crude Schedule Optimization takes refinery data from Aspen Unified PIMS™ and automatically determines the optimal crude receipts, transfers, blends and production schedules to maximize margins. By minimizing manual work and enabling rapid "what if" scenario testing, refineries can improve scheduling precision, thereby reducing errors and enabling rapid response to crude market fluctuations and price opportunities.
Maximizing Blending Efficiency
Multi-Blend Optimization simultaneously optimizes the recipe of each individual batch of blended product within the scheduling window. It continuously optimizes product qualities and balances production against market conditions and operational constraints, while ensuring compliance with quality specifications. By making optimal use of available blend components, refineries reduce quality giveaway, lower blend component costs and improve profitability.
Both solutions are offered as separately licensed products available within Aspen Unified Scheduling. As part of the broader Aspen Unified™ solution, Aspen Unified Scheduling connects data, optimization and execution – reducing manual intervention, improving operational consistency and accelerating the speed of critical business decisions.
Additional Resources:
Learn more about Aspen Unified Scheduling Join the Emerson Exchange 365 Community Visit Emerson's Industrial Software Page on LinkedIn Connect with Aspen Technology on LinkedIn Connect with Emerson via X Facebook LinkedIn YouTube About Emerson
Emerson (NYSE: EMR) is a global automation leader delivering solutions for the most demanding technology challenges. Headquartered in St. Louis, Missouri, Emerson is engineering the autonomous future, enabling customers to optimize operations and accelerate innovation. For more information, visit Emerson.com.
Commerce Bancshares (CBSH - Free Report) came out with quarterly earnings of $1.1 per share, beating the Zacks Consensus Estimate of $1.04 per share. This compares to earnings of $1.14 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +5.77%. A quarter ago, it was expected that this bank holding company would post earnings of $0.94 per share when it actually produced earnings of $0.96, delivering a surprise of +2.13%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Commerce, which belongs to the Zacks Banks - Midwest industry, posted revenues of $498.91 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.24%. This compares to year-ago revenues of $445.76 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Commerce shares have added about 11.1% since the beginning of the year versus the S&P 500's gain of 10.6%.
What's Next for Commerce?While Commerce has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Commerce was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.06 on $492.59 million in revenues for the coming quarter and $4.15 on $1.96 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, First Western (MYFW - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 23.
This company is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of +115.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
First Western's revenues are expected to be $28.4 million, up 17.4% from the year-ago quarter.
Snowflake schválila pro CEO Sridhara Ramaswamyho odměnu až 448 milionů USD, navázanou na téměř zdvojnásobení tržní hodnoty firmy na 184 miliard USD během sedmi let. Balík obsahuje 1 milion akcií a má ho udržet ve funkci do 15. září 2030.
The company logo for Snowflake Inc. is displayed on a banner to celebrate the company's IPO at the New York Stock Exchange (NYSE) in New York, U.S., September 16, 2020. REUTERS/Brendan... Purchase Licensing Rights, opens new tab Read more
CompaniesJuly 16 (Reuters) - Snowflake (SNOW.N), opens new tab on Thursday unveiled a compensation package worth up to roughly $448 million for CEO Sridhar Ramaswamy, hinging on the cloud-based data analytics platform's market value almost doubling to $184 billion in seven years.
Ramaswamy's award, totaling 1 million shares, is structured into five tranches, each with escalating stock price milestones, and is designed to retain him as CEO until September 15, 2030.
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Snowflake has been benefiting from clients shifting their workloads to its cloud platform as they invest to develop AI tools.
The company's stock price would need to climb to $531 by July 15, 2033 from Wednesday's closing price of $271.87 for the final tranche, adding up to $100 billion to its market capitalization.
Snowflake offers a platform where clients store and integrate their data in one place to generate business insights, build AI tools and solve operational problems.
Ramaswamy must remain CEO through September 15, 2029 for the first two tranches and September 15, 2030 for the last three to meet the service-based requirement, the company said.
The compensation package also includes clawback clauses for misconduct or accounting restatements, according to a regulatory filing.
Snowflake shares have risen about 24% this year.
In May, the company raised its annual product revenue forecast and announced a five-year deal worth $6 billion with Amazon Web Services (AMZN.O), opens new tab to use AWS's Graviton processors and AI infrastructure.
Reporting by Jaspreet Singh in Bengaluru; Editing by Sahal Muhammed
Our Standards: The Thomson Reuters Trust Principles., opens new tab
M&T Bank vykázala za 2. čtvrtletí zisk 5,35 USD na akcii a výnosy 2,532 miliardy USD, obojí nad odhady. Po výsledcích analytici zvýšili cílové ceny akcií.
M&T Bank Corp (NYSE:MTB) reported upbeat earnings for the second quarter on Wednesday.
The company posted quarterly earnings of $5.35 per share which beat the analyst consensus estimate of $4.66 per share. The company reported quarterly sales of $2.532 billion which beat the analyst consensus estimate of $2.464 billion.
M&T Bank shares rose 2.8% to close at $248.53 on Wednesday.
These analysts made changes to their price targets on M&T Bank following earnings announcement.
Baird analyst David George maintained the stock with a Neutral and raised the price target from $240 to $250. Barclays analyst Jason Goldberg maintained the stock with an Equal-Weight rating and raised the price target from $236 to $267. Keefe, Bruyette & Woods analyst David Konrad maintained the stock with a Market Perform and boosted the price target from $242 to $250. Considering buying MTB stock? Here’s what analysts think:
Photo via Shutterstock
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Albemarle rozšiřuje kapacitu zpracování lithia, aby využila rostoucí poptávku po bateriích a ukládání energie. V prvním čtvrtletí jí v divizi Energy Storage stouply objemy prodeje meziročně o 14 %.
Key Takeaways Albemarle is expanding lithium conversion capacity to capture rising demand.ALB is seeing higher Energy Storage volumes, supported by integrated conversion facilities.ALB's 2026 EPS estimate has trended higher over the past 60 days, with sharp year-over-year expected growth. Albemarle Corporation (ALB - Free Report) is strategically executing its projects aimed at boosting its global lithium conversion capacity. The market for lithium batteries and energy storage remains strong, offering significant opportunities for the company to develop innovative products and expand capacity.
ALB remains focused on investing in high-return projects to drive productivity. Healthy customer demand, capacity expansion and plant productivity improvements are supporting its volumes. ALB saw higher sales volumes (up 14% year over year) in its Energy Storage unit in the first quarter on the strength of its integrated conversion facilities.
The Salar yield improvement project in Chile has achieved a 50% operating rate, and the ramp-up continues to deliver encouraging outcomes. ALB has started the environmental permitting process for a commercial direct lithium extraction project at Salar de Atacama. The ramp-up at the Meishan lithium conversion facility in China is also progressing ahead of schedule. The company’s volumes are expected to continue to be supported by these capacity expansion actions going forward.
Among its peers, Sociedad Quimica y Minera de Chile S.A. (SQM - Free Report) has a robust balance sheet and generates strong cash flows, which allow it to make investments in driving production capacity. SQM logged strong lithium sales volumes of 69,000 metric tons in the first quarter. The Nova Andino Litio business recorded roughly 19% higher volumes compared to the prior-year quarter, driven by capacity expansion actions. SQM is operating at full capacity at the Mt. Holland mine and concentrator in Australia and continues to ramp up the Kwinana refinery.
Rio Tinto Group (RIO - Free Report) is making progress with its high-value lithium projects. The fully owned Rincon Lithium Project in Argentina remains on track with commissioning of the starter plant already being completed and ramp-up currently in progress, with full capacity expected by the end of 2026. The Fénix expansion project and Sal de Vida in Argentina, with a capital cost of $0.7 billion each, are mechanically complete with first production expected in second-half 2026.
The Nemaska Lithium project, in which Rio Tinto now holds a 53.9% stake with the Government of Québec retaining the balance, is a fully integrated spodumene-to-lithium hydroxide development project comprising the lithium hydroxide plant in Bécancour and the Whabouchi spodumene mine with a production capacity of 32,000 tons. RIO initially acquired a 50% interest in Nemaska Lithium through the buyout of Arcadium in March 2025.
ALB’s Price Performance, Valuation & EstimatesAlbemarle has gained 64.7% in the past year compared with the Zacks Chemical - Diversified industry’s decline of 2.8%.
Image Source: Zacks Investment Research
ALB is currently trading at a forward price-to-sales ratio of 2.32, above the industry. It carries a Value Score of C.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for ALB’s 2026 earnings implies a year-over-year rise of 1,753.2%. The EPS estimates for 2026 have been trending higher over the past 60 days.
Micron uzavřel strategické dohody o zákaznické spolupráci (SCA) s klíčovými dodavateli Tier 1 a partnery automobilového ekosystému včetně Qualcomm, Visteon, HARMAN, JOYNEXT, DENSO, Astemo a Hyundai Mobis. Cílem je zajistit dlouhodobý přístup k paměťovým a úložným řešením pro budoucí vozidlové platformy.
BOISE, Idaho, July 16, 2026 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) has completed Strategic Customer Agreements (SCAs) with key Tier 1 suppliers and ecosystem partners supporting the global automotive industry and automotive manufacturers.
Automotive platforms require consistent, high-quality component supply over extended lifecycles, making continuity and reliability of memory and storage a crucial priority for vehicle production and delivery at scale. Together, the companies – Qualcomm, Visteon, HARMAN, JOYNEXT, DENSO, Astemo and Hyundai Mobis – represent critical suppliers of the technologies that support the automotive ecosystem.
With more than 30 years of leadership in the automotive industry, Micron appreciates the importance of these partnerships. Automotive OEMs rely on memory and storage solutions to support next-generation in-vehicle infotainment, advanced driver assistance and connectivity systems, as well as increasing levels of intelligence in the vehicle. Consumers recognize the value of intelligent in-cabin experiences and higher levels of autonomous safety features enabled by advanced driver assistance systems. These agreements are designed to support long-term access to advanced memory and storage solutions as the automotive industry shifts toward increasingly sophisticated AI-enabled vehicles.
The SCAs provide Micron, as well as these valued partners, with greater visibility for optimized production planning as well as increased collaboration on future memory and storage requirements. By establishing greater certainty around supply and pricing, the agreements support investments in the technology development, qualification and manufacturing capacity required for future vehicle platforms.
Increased visibility and strategic planning are critical for this segment, balancing traditionally longer product lifecycles and rigorous qualification standards with a faster adoption of advanced technology.
“The next phase of automotive innovation will depend on the strength of the ecosystem behind it,” said Sanjay Mehrotra, chairman, president and CEO of Micron Technology. “As vehicles become increasingly intelligent, memory and storage are critical enablers of technology experiences that consumers demand. These SCAs with leading automotive technology partners will help ensure that advanced vehicle platforms have the memory and storage capabilities required to deliver richer, safer and more intelligent experiences.”
“As vehicles become increasingly software-defined, automakers need technology platforms that bring together high-performance compute, connectivity, memory and storage,” said Cristiano Amon, President and CEO, Qualcomm Incorporated. “We work closely with automakers and Tier 1 suppliers to deliver advanced digital cockpit, driver assistance and connectivity solutions designed to support new capabilities over long vehicle lifecycles. Working with Micron helps us give customers the strong technology foundation they need as vehicles become more intelligent and connected.”
“Consumers increasingly expect their vehicles to deliver the intuitive, personalized and connected experiences that match the rest of their digital lives,” said Christian Sobottka, Chief Executive Officer and President, Automotive Division, HARMAN. “Delivering on those expectations at automotive scale requires close collaboration across the technology ecosystem. By working with key technology partners like Micron, we are helping strengthen the resilient memory and storage foundation needed to reliably deliver increasingly intelligent, software-defined vehicle platforms. This helps give automakers greater confidence as we bring differentiated, road-ready in-cabin experiences to market.”
“Automakers are accelerating the development of intelligent vehicle platforms that rely on advanced driver assistance capabilities to enhance safety and driver confidence,” said Lee Gyu-suk, President and CEO of Hyundai Mobis. “Supporting these platforms requires long-term technology planning and a resilient supply ecosystem. Through our relationship with Micron, we are helping build the foundation needed for future ADAS and software-defined vehicle architectures.”
“Advanced digital cockpit experiences depend on high-performance memory and storage,” said Sachin Lawande, President and Chief Executive Officer of Visteon. “Our collaboration with Micron helps support the next generation of connected in-vehicle experiences.”
“To realize a safer and more secure mobility society, the automotive industry must continue advancing the intelligence and capabilities of the systems that support drivers in navigating the road safely,” said Shinnosuke Hayashi, President and CEO of DENSO Corporation. “Partnerships across the automotive ecosystem play an important role in ensuring those technologies can scale to meet the industry's evolving needs.”
Underpinned by Micron's continued global investment in automotive memory and storage technology, manufacturing scale and customer engagement, Strategic Customer Agreements help strengthen relationships across the automotive ecosystem while providing greater visibility into future technology and supply requirements.
These agreements are among the SCAs discussed on Micron’s fiscal third-quarter 2026 financial conference call.
About Micron Technology, Inc.
Micron Technology, Inc. is an industry leader in innovative memory and storage solutions, accelerating intelligence to enrich life for all. With a relentless focus on our customers, technology leadership and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the anticipated benefits of the collaboration. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to the documents Micron files with the Securities and Exchange Commission, specifically its most recent Form 10-K and Form 10-Q. These documents contain and identify important factors that could cause actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at https://investors.micron.com/risk-factor. Although Micron believes that the expectations reflected in the forward-looking statements are reasonable, Micron cannot guarantee future results, levels of activity, or achievements. Micron is under no duty to update any of the forward-looking statements after the date of this press release to conform these statements to actual results.
Micron po růstu o 654,1 % za rok a 16,87 % za měsíc čelí varování před přepjatou valuací na 904,28 USD. Firma sice zvýšila tržby i zisk, ale sama očekává zpomalení marží.
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At $905, Micron Technology (NASDAQ:MU | MU Price Prediction) shows growing valuation risk. The memory maker has been the single most spectacular AI-adjacent trade of the past year, and that is exactly the problem at today’s quote.
Micron is the only U.S.-based maker of DRAM and NAND memory, and it now sells high-bandwidth memory (HBM) next to every leading-edge AI accelerator. Cloud Memory did $13.769 billion in Q3, Core Data Center added $11.524 billion, and Mobile and Client matched at $11.521 billion. Reported gross margin hit 84.6%, up from 37.7% a year earlier.
The stock has risen from roughly $119.92 a year ago to $904.28, and has pulled back 16.87% in the past month from above $1,087. The question now is whether that pullback is a pause or the start of something bigger.
Why the Bulls Still Own This Trade Q3 revenue landed at $41.456 billion, beating consensus by 17.60%, and non-GAAP EPS of $25.11 beat by 23.79%. Q4 guidance calls for $50 billion in revenue and $31 in EPS at the midpoint, with gross margin near 86%.
Management has signed 16 Strategic Customer Agreements carrying roughly $100 billion in floor-priced revenue over five years, backed by $22 billion in customer cash deposits and letters of credit. CEO Sanjay Mehrotra says HBM4 12-high is ramping twice as fast as HBM3E, and Wall Street’s consensus target of $1,486 implies substantial upside.
Why $905 Is the Wrong Price Three risks weigh on that story at $905.
HBM execution: HBM4 is generating over $1 billion in quarterly revenue with a single lead customer, and HBM4E volume production is not slated until calendar 2027. Any yield stumble, qualification delay, or lost socket resets the entire margin narrative.
Memory cyclicality: DRAM prices rose in the low-60% range and NAND in the mid-80% range sequentially in Q3. Double-ordering likely inflates those numbers, and SCA ceilings pinned at current-quarter market prices limit further spot upside while doing nothing to prevent normalization in the other 60% of revenue. Capex in a hawkish backdrop: Full-year FY2026 capex is guided to roughly $27 billion, with fiscal 2027 quarterly spending running above the Q4 pace. The 10-year Treasury sits at 4.58%, in the 98th percentile of the past year, as Micron writes checks for Idaho, New York, Taiwan, and Singapore fabs.
The Case for Waiting Micron will almost certainly print the guided Q4, order books stretch into 2027, and the SCAs make a 2016-style price crash unlikely. But management just admitted “we are at margin levels where incremental price yields less gross margin expansion” and flagged a $1 billion opex increase for FY2027. Existing holders face a different calculus than new buyers at $905, who would be underwriting a second leg the company itself is guiding to moderate.
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What the Stock Says Micron trades at $904.28, against a consensus analyst target of $1,486, implying meaningful upside if targets are met. Forward P/E is 6, trailing P/E 21, and a PEG of 0.14.
Coverage is lopsided: 9 Strong Buy, 31 Buy, 4 Hold, 0 Sell, and 1 Strong Sell. Shares are up 217.03% year to date and 654.1% over one year, versus roughly 10.6% for the S&P 500 YTD.
MU is off 4.69% on the week, 16.87% on the month, and fell 8.02% in the most recent session. The 50-day moving average of $907.42 is now essentially the price.
Why $905 Looks Stretched The path to further downside is short. Q4 will almost certainly beat, but the guided 86% gross margin is the ceiling by management’s own admission. As pricing moderates through calendar 2026, the market will re-rate a business that grew revenue 345.72% year over year off a depressed base. Forward P/E of 6 assumes those earnings hold.
Concentration risk is acute. HBM4 revenue depends on one lead customer. Any AI capex hiccup at a single hyperscaler reprices 33% of Micron’s mix overnight. Layer on $27 billion in fiscal 2026 capex, a $325 million debt prepayment loss last quarter, and a 10-year yield in the 98th percentile, and the financing backdrop for that spend is the worst it has been in a year.
What would invalidate the Sell? A clean HBM4E ramp with a second named lead customer, or SCA revenue crossing 50% of the mix with floor prices materially above prior peak margins. Neither is visible yet. A 654% one-year move already reflects the good news, and the setup asks new buyers to underwrite perfection at the exact moment management is guiding moderation.
History suggests chasing a memory stock the quarter after it prints an 84.9% gross margin has rarely worked out well.
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Abbott Laboratories oznámila, že tržby segmentu Medical Devices v 1. čtvrtletí 2025 vzrostly o 13,2 % na 5,54 miliardy USD a FreeStyle Libre přidal 13,8 % na 2,08 miliardy USD. Upravený EPS byl 1,15 USD a celoroční výhled je 5,38 až 5,58 USD.
The market still treats Abbott Laboratories (NYSE:ABT | ABT Price Prediction) like a bond proxy with a stethoscope: baby formula, branded generics, and a metronomic dividend. That framing looks increasingly stale, and the stock’s punishing drawdown has widened the gap between narrative and numbers.
Abbott is a card-carrying S&P 500 Dividend Aristocrat, riding a 54th consecutive year of dividend increases and a 410th consecutive quarterly payout of $0.63 per share. A beta of 0.607 reinforces the “sleep well at night” identity. That reputation is precisely why the transformation underneath it is being underpriced.
A New Growth Engine and a Pivot Hiding in Plain Sight Medical Devices is now the dominant engine, generating $5.54 billion in Q1 2026, up 13.2%. Inside that segment, the FreeStyle Libre continuous glucose monitor franchise cleared $2.08 billion in the quarter, growing 13.8%. CEO Robert Ford is explicit about the runway: “Our assessment of the number of people who should be on a CGM on a global basis is between 70 million and 80 million people. The market today is around 10 to 12 million people.”
Established Pharmaceuticals grew 13.2% and international sales rose 11.3%. Adjusted EPS came in at $1.15, the fourth consecutive beat, with full-year adjusted EPS guidance of $5.38 to $5.58. Abbott remains a compounder still compounding.
On March 23, 2026, Abbott closed its roughly $21 billion acquisition of Exact Sciences, launching a Cancer Diagnostics unit anchored by Cologuard and Cancerguard. Management expects approximately $3 billion of incremental sales in 2026. Ford framed the strategic logic: “About 50 million Americans are not up to date with CRC screening… Cologuard does really well here. Not only is it convenient at home, but its sensitivity at 95% is equivalent to colonoscopy.”
The Mispricing Shares closed most recently at $89.27, down 28.8% year to date and 32.1% over one year. The $116.54 analyst consensus target is below the 52-week high of $137.49, yet analysts overall still recommend buying shares. The forward P/E is 17.
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For investors weighing durable payers (our Dividend Kings research covers this cohort in depth), the disconnect between fundamentals and price action is notable.
Reframing the Legacy Drag Nutrition fell 6.0% to $2.02 billion, the piece of “old Abbott” the market fixates on. Ford has been clear that this is deliberate: “We did not reduce price uniformly; we kept it focused on products that… would demonstrate a positive volume response to reduced price.”
Nutrition volume recovery, FX, $0.20 per share of Exact Sciences dilution, China volume-based procurement, and continuous glucose monitoring competition from DexCom (NASDAQ:DXCM) are genuine. Polymarket traders currently place the probability of Q2 comparable sales growth falling within the 4% to 8% band at 44% to 45%. These are the concerns of a growth-plus-quality compounder.
This article is research commentary, not investment advice.
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Abbott (ABT - Free Report) came out with quarterly earnings of $1.31 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $1.26 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +2.34%. A quarter ago, it was expected that this maker of infant formula, medical devices and drugs would post earnings of $1.14 per share when it actually produced earnings of $1.15, delivering a surprise of +0.88%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Abbott, which belongs to the Zacks Medical - Products industry, posted revenues of $12.59 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.91%. This compares to year-ago revenues of $11.14 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Abbott shares have lost about 28.8% since the beginning of the year versus the S&P 500's gain of 10.6%.
What's Next for Abbott?While Abbott has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Abbott was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.42 on $13.15 billion in revenues for the coming quarter and $5.48 on $50.42 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Perrigo (PRGO - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.
This drug company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of -31.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Perrigo's revenues are expected to be $1 billion, down 5% from the year-ago quarter.
Medtronic dokončila akvizici SPR Therapeutics za 650 milionů USD a rozšířila portfolio léčby bolesti o technologii SPRINT PNS. Cílí na minimálně invazivní, neopioidní léčbu chronické i akutní bolesti.
Acquisition adds category-defining SPRINT® PNS technology to Medtronic's pain therapy portfolio—the broadest in the industry.¹
, /PRNewswire/ -- Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced it has completed its acquisition of SPR Therapeutics, Inc. (SPR), a privately held medical technology company and recognized leader in short-term, percutaneous peripheral nerve stimulation (PNS) therapies for chronic and acute pain management. The acquisition is valued at $650 million, consisting of an upfront cash payment.
Chronic pain affects nearly 50 million U.S. adults2, and for some, it can significantly impact their mobility, sleep quality, work performance, and overall quality of life. PNS is a form of neuromodulation that delivers mild electrical stimulation near targeted peripheral nerves to help reduce pain. As a non-opioid and non-surgical therapy, PNS can expand pain management treatment options, support earlier intervention in the care continuum, and help create additional opportunities for individualized patient care.
SPR's FDA-cleared SPRINT® PNS System is a short-term therapy designed to provide pain relief using a 60-day, minimally invasive treatment approach that does not require a permanent implant. SPRINT® is supported by a growing body of clinical research, including multiple prospective clinical studies, case series, and multi-center randomized controlled trials. Pooled results from 13 studies show that 60% of patients achieved meaningful pain relief (≥50% reduction in pain intensity) at the end of the 60-day treatment completion, with responders experiencing an average 76% reduction in pain intensity. Across all patients, there was a 56% reduction in pain intensity.3
"Medtronic is committed to expanding access to innovative therapies that can meaningfully improve patient lives," said Domenico De Paolis, Interim President of the Neuromodulation Operating Unit, part of the Medtronic Neuroscience Portfolio. "The addition of SPRINT® extends our ability to serve patients across the continuum of pain care and broadens patient access to a minimally invasive treatment option to address both chronic and acute pain."
"At SPR, our mission has always been to help people living with pain reclaim their lives," said Maria Bennett, President, Founder, and Chief Executive Officer of SPR. "We are proud of the impact our team has made in advancing innovative therapies that offer meaningful pain relief. Joining Medtronic enables us to build on that foundation, expand access to our technology, and serve more patients living with pain."
This acquisition reflects Medtronic's continued focus on strategic deals that strengthen its leadership across core businesses. It is expected to be minimally dilutive to Medtronic adjusted EPS in FY27 and neutral to accretive thereafter. The company remains committed to pursuing high-growth opportunities that complement its portfolio and enhance therapy options for physicians and hospital partners.
About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission – to alleviate pain, restore health, and extend life – unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic, visit medtronic.com and follow us on LinkedIn.
About SPR
SPR is a medical technology company focused on advancing minimally invasive therapies for the treatment of pain. Its SPRINT® PNS System is designed to deliver short-term peripheral nerve stimulation therapy for sustained pain relief of up to three months following treatment and is supported by a growing body of clinical evidence and expanding reimbursement coverage. For more information on SPR Therapeutics, visit sprpainrelief.com and follow SPR on LinkedIn.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the U.S. Securities and Exchange Commission. Actual results may differ materially from anticipated results.
Medtronic Contacts:
Justin Paquette
Ingrid Goldberg
Public Relations
Investor Relations
+1-612-271-7935
[email protected]
References
Medtronic SCS Value Summary FY25; Lo Bianco, G., et al. (2025). Barriers to neuromodulation. J Anesth Analg Crit Care, 5(1):3. Lucas JW, Sohi I. Chronic pain and high-impact chronic pain in U.S. adults, 2023. NCHS Data Brief, no 518. Hyattsville, MD: National Center for Health Statistics. 2024. DOI: https://dx.doi.org/10.15620/cdc/169630. SPR SPRINT® PNS System Indications for Use. SPR Pain Relief. Accessed July 2, 2026. https://www.sprpainrelief.com/indications SOURCE Medtronic plc
Lockheed Martin získal od USSOCOM 12letý kontrakt za 10,5 miliardy USD na logistickou a provozní podporu speciálních sil. Pokryje údržbu letadel a vozidel, IT i elektroniku.
, /PRNewswire/ -- As part of a historic investment to rebuild the Arsenal of Freedom, the Department of War named Lockheed Martin (NYSE: LMT) the prime contractor of U.S. Special Operations Command's (USSOCOM) next-generation logistics and sustainment support program.
SOF GLSS 2 provides a wide range of mission-critical services, including aircraft and vehicle maintenance, IT and electronics support to the U.S. Special Operations community. The $10.5 billion, 12-year contract funds the Special Operations Forces Global Logistics Support Services II (GLSS2), a competitive follow-on contract to previous ones managed by Lockheed Martin since 2010 to ensure U.S. Special Operations has the sustainment and life-cycle management to support rapid deployment and mission overmatch.
THE BIG PICTURE
Under the new contract, Lockheed Martin will continue to execute day-to-day activities and conduct sustainment and life-cycle management of:
Global supply chain of parts, warehouses and depots; Aircraft, vehicle and equipment repair, maintenance and modifications; and Critical infrastructure support and business process transformation. EXPERT PERSPECTIVE
"Lockheed Martin is deeply honored to stand beside the men and women of our Special Operations Forces," said Vic Torla, vice president, Lockheed Martin SOF GLSS. "For more than 16 years, our teams have relentlessly delivered the logistics and sustainment expertise required to accomplish our nation's most critical missions. We recognize the urgency of every operation, and our dedicated personnel, parts, and services are positioned to meet the SOF warfighter's needs. Building on the proven success with the SOF CLSS and SOF GLSS programs, we are poised to further transform SOF logistics worldwide, ensuring our exceptional operators always have what they need, when they need it." WHY IT MATTERS
SOF GLSS 2 is USSOCOM's largest service contract vehicle, providing a wide range of mission-critical services, including aircraft and vehicle maintenance, IT and electronics support to the U.S. Special Operations community.
ADDITIONAL CONTEXT
The Lockheed Martin-led Global Logistics Support Services team includes numerous subcontractor partners that provide capabilities to benefit special operations forces and ensure they receive the highest possible level of support. Lockheed Martin SOF GLSS is located at Bluegrass Station in Lexington, Kentucky, and employs over 3,300 employees worldwide. The company continues to expand its sustainment and logistics services to military and government agencies worldwide, and has a global network of people, facilities, suppliers and partners supporting around-the-clock operations. About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
Stryker spustil v USA komerční prodej Mako RPS pro totální náhrady kolene. Nový ruční robotický systém rozšiřuje platformu Mako mimo roboticky asistovanou operaci pro kolenní operace.
New handheld robotic technology expands the Mako platform and brings Mako robotic-assisted knee replacement to a new segment of the orthopaedic market
Stryker announced the U.S. commercial launch of Mako RPS (Robotic Power System) for total knee replacement procedures. The launch introduces Mako Handheld Robotics, expanding the Mako portfolio beyond robotic-arm assisted surgery. Mako RPS combines robotic execution, intraoperative planning and a familiar handheld power tool workflow. , /PRNewswire/ -- Stryker (NYSE: SYK), a global leader in medical technologies, announced today the U.S. commercial launch of Mako RPS® (Robotic Power System) for total knee replacement procedures, further expanding the Mako portfolio into a new category of orthopaedic robotics.
Mako RPS® (Robotic Power System)
Mako RPS® (Robotic Power System) The launch marks the introduction of the Mako Handheld Robotics platform, alongside the Mako SmartRobotics™ with Mako 4, Stryker's multi-specialty robotic-arm assisted platform. Designed to provide surgeons with an intuitive handheld robotic experience, Mako RPS combines Stryker's expertise in robotics and power tools to bring robotic technology to a new customer segment of the orthopaedic market.
"Customer response during the limited market release has been exceptionally strong," said Keith Evans, VP/GM of Stryker's Mako and Enabling Technologies business. "As we expand the Mako portfolio, we're proud to set a new standard for what customers can expect from a handheld robotics technology – bringing together robotics, power tool expertise and a deep understanding of surgical workflows."
As healthcare providers increasingly seek flexibility in how robotic technology is incorporated into orthopaedic procedures, Mako RPS offers a new option that blends robotic execution with a familiar surgical experience. The launch expands access to Mako, offering surgeons more robotic options and bringing Mako to a broader range of customers and care settings.
Compatible with Stryker's clinically proven1-2 Triathlon® Total Knee System, Mako RPS for Total Knee features intraoperative planning and a robotically enabled saw equipped with Stryker's patented active adjustment technology, which responds to a surgeon's hand movements and helps maintain alignment with the surgical plan in real time. The system provides a familiar cutting experience without the need for cutting blocks, offering an option for surgeons interested in adopting robotic technology while integrating easily into their existing surgical workflows.
"By combining robotic technology with the clinically proven Triathlon® Total Knee System, Mako RPS delivers an intuitive surgical experience that builds on the implant and workflow familiarity surgeons know and trust2-3," said Lisa Kloes, vice president and general manager of Stryker's Knee business.
Built to work with Stryker's multi-specialty Q Guidance System, Mako RPS expands Stryker's ecosystem of enabling technologies across the continuum of orthopaedic care and sites of service.
For more than two decades, Mako has defined orthopaedic robotics worldwide. With more than 2.5 million procedures performed in 47 countries, Mako continues to advance the adoption of robotics in orthopaedics and support surgeons in delivering personalized patient care.
About Stryker
Stryker is a global leader in medical technologies and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. More information is available at www.stryker.com.
American Joint Replacement Registry (AJRR): 2025 Annual Report. Rosemont, IL: American Academy of Orthopaedic Surgeons (AAOS), 2025. Australian Orthopaedic Association National Joint Replacement Registry (AOANJRR). Hip, Knee & Shoulder Arthroplasty Annual Report 2025. AOA;2025. https://aoanjrr.sahmri.com/. Accessed 11 Oct. 2025 Scott CEH, Snowden GT, Cawley W, et al. Fifteen-year prospective longitudinal cohort study of outcomes following single radius total knee arthroplasty. Bone Jt Open. 2023;4(10):808-816. Published 2023 Oct 24.doi:10.1302/2633-1462.410.BJO-2023-0086.R1 SOURCE Stryker
1. Taiwan Semi's Profit Jumps to Record High Taiwan Semiconductor (TSM 2.83%) nudged down around 4% in pre-market trading despite quarterly results delivering a 77.4% jump in net income, ahead of expectations and a new company record, as the Team Hidden Gems recommendation continues to benefit from the global AI buildout.
"The AI megatrend continues to drive the need for more and more computation": Chairman C.C. Wei was upbeat on the earnings call. Capex for the full year was increased from the $52 billion-$56 billion range to $60 billion-$64 billion, with revenue growth now projected slightly above 40%, up from more than 30% previously. An additional $100 billion allocated to expand U.S. chipmaking capacity: The extra money will be used to build four chip plants, taking the total investment plan in the U.S. to $265 billion. The plants would produce the most commercially advanced available logic chips. 2. Uber Plots Massive Global Food Bet Rule Breakers recommendation Uber (UBER +2.45%) has confirmed it will buy Delivery Hero for $14.9 billion (€13 billion), in a move expected to close in the second half of next year, acting to consolidate the global food delivery market.
"Together, we'll nearly double the number of markets where we offer both mobility and delivery services": Uber CEO Dara Khosrowshahi spoke of the synergies the deal will provide. As part of the transaction, Delivery Hero will sell some European business units to reduce the existing geographical overlap with Uber. "We're impressed by the ecosystem that Uber has created": In May, Fool contributing analyst Dan Caplinger said "we see more room for growth as autonomous driving technology comes ever closer to becoming reality." The stock is outperforming the S&P 500 by 138% since the July 2022 Rule Breakers rec.
3. Cyclospora Fears Drag Fast-Food Stocks
Fast-food companies Sweetgreen (SG 5.22%) and Chipotle (CMG +0.58%) closed 5.2% and 4.94% lower yesterday, respectively, as concern around the ongoing cyclospora outbreak weighs on the sector.
Health officials haven't publicly associated any restaurants with the outbreak: The parasite has been linked to ingredients like lettuce and raw vegetables, naturally impacting menu items for Sweetgreen and Chipotle. Taco Bell has stopped serving lettuce at some franchises in Michigan. Chipotle is "monitoring the situation closely": The Team Rule Breakers and Team Hidden Gems rec issued a statement saying it did not believe its ingredients were associated with the outbreak.
4. Next Up: NFLX Earnings Follow PLD and GE
Prologis (PLD +1.86%) is due to release earnings ahead of the market open, as the Hidden Gems and Dividend Investor rec aims to show further demand for warehousing as noted in Q1. GE Aerospace (GE +1.87%) reports before the opening bell, too. Last quarter delivered double-digit growth across revenue, profit, and orders. Services revenue is expected to drive performance this time around. Netflix (NASDAQ:NFLX) reports after the closing bell. Revenue is expected to grow 13.5% versus the same period last year for the Team Hidden Gems and Team Rule Breakers rec, with a focus on ad monetization and building on last quarter's strong subscriber growth. 5. Today's Take: For New Investors, Read This
Darrell Huff's 1954 classic, How to Lie with Statistics, isn't an investing book per se, but it's a must-read for all investors. The tricks and games that companies try to play will truly never stop. Once you've read this book, you'll spot nonsense in investor presentations, press releases, and earnings calls from a mile away.-- Tim Green Team Hidden Gems
6. Your Take Prologis is up 13% over the last 5 years. Across the same period, the S&P 500 is up 75%.
Will Prologis be a market-beater over the next 5 years?
Debate with friends and family, or become a member to hear what your fellow Fools are saying!
This image and article was created using Large Language Models (LLMs) based on The Motley Fool's insights and investing approach. It has been reviewed by our AI quality control systems. Since LLMs cannot (currently) own stocks, it has no positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Chipotle Mexican Grill, GE Aerospace, Prologis, Taiwan Semiconductor Manufacturing, and Uber Technologies. The Motley Fool recommends Sweetgreen and recommends the following options: short September 2026 $35 calls on Chipotle Mexican Grill. The Motley Fool has a disclosure policy.
Second quarter results show momentum building across the business
Raises 2026 guidance for the second time; leasing hits record
, /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) raised its 2026 guidance for the second time this year, supported by record leasing and improving operating fundamentals.
"We believe the business is entering its next phase of growth," said Daniel S. Letter, chief executive officer of Prologis. "Customer demand is broadening, and our opportunity set is expanding as logistics, digital infrastructure and energy needs increasingly intersect. Given our scale and deep customer relationships, we are well positioned for this next cycle."
Key highlights for the quarter ended June 30, 2026:
Financials Results:
Net earnings per diluted share was $1.13, compared with $0.61 for the same period in 2025. Core funds from operations (Core FFO)* per diluted share was $1.63, compared with $1.46 for the same period in 2025. Core FFO, excluding Net Promote Income (Expense)* per diluted share was $1.60, compared with $1.47 for the same period in 2025. Operational Results:
Signed over 67 million square feet of leases, a record level. Increased owned & managed period end occupancy to 95.5%, a 20-basis point increase compared to March 31, 2026. Delivered same-store NOI* (at Prologis share) year-over-year growth of 6.4% on a net effective basis and 8.5% on a cash basis. Capital Deployment (Owned & Managed):
Started $1.6 billion of development across logistics and data centers. Completed $1.8 billion of third-party acquisitions at attractive discounts to replacement cost. Executed $766 million of dispositions, recycling capital into higher-return opportunities. Contributed $518 million of logistics real estate to Strategic Capital vehicles. Expanded the data center power pipeline to 5.8 GW. "Our business is performing at a high level, with multiple drivers of growth across the platform," said Timothy D. Arndt, chief financial officer of Prologis. "Embedded rent growth provides clear earnings visibility, and the scale of the opportunity ahead of us, together with our strong balance sheet, positions Prologis to deliver durable earnings growth and compound long-term value."
OPERATING PERFORMANCE
Owned & Managed
2Q26
Average Occupancy
95.0 %
Period End Occupancy
95.5 %
Leases Commenced (Operating and Development Portfolio)
61.7 MSF
Retention
72.7 %
Prologis Share
2Q26
Average Occupancy
94.9 %
Cash Same Store NOI*
8.5 %
Net Effective Rent Change
36.9 %
Cash Rent Change
22.3 %
DEPLOYMENT ACTIVITY
Prologis Share
2Q26
Acquisitions
$1,119M
Weighted avg stabilized cap rate (excluding other real estate)
4.1 %
Development Stabilizations
$646M
Estimated weighted avg yield
6.3 %
Estimated weighted avg margin
13.8 %
Estimated value creation
$89M
% Build-to-suit
24.0 %
Development Starts
$1,342M
Estimated weighted avg yield
7.2 %
Estimated weighted avg margin
32.3 %
Estimated value creation
$434M
% Build-to-suit
74.7 %
Total Dispositions and Contributions
$1,009M
Weighted avg stabilized cap rate (excluding land, properties under development, and other real estate)
5.1 %
BALANCE SHEET STRENGTH & LIQUIDITY
During the quarter, the company:
Closed, together with its co-investment ventures, an aggregate of $3.4 billion of debt at a weighted average interest rate of 4.4% and a weighted average term of 6.2 years. As of quarter-end:
Total available liquidity was approximately $7.6 billion. Debt-to-Adjusted EBITDA* was 4.7x and debt as a percentage of total market capitalization was 23.9%. The weighted average interest rate on the company's share of total debt was 3.3%, with a weighted average term of 7.9 years. Forecasted earnings for 2026, 2027 and 2028 are 99%, 98% and 97%, respectively, in USD or hedged through derivative contracts and 96% of Prologis' equity was in USD. 2026 GUIDANCE
Prologis' guidance for net earnings is included in the table below as well as guidance for Core FFO*, which are reconciled in our supplemental information.
2026 GUIDANCE
Earnings (per diluted share)**
Previous
Current
Net earnings attributable to common stockholders
$3.80 to $4.05
$4.40 to $4.55
Core FFO attributable to common stockholders/unitholders*
$6.07 to $6.23
$6.22 to $6.30
Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income (Expense)*
$6.12 to $6.28
$6.22 to $6.30
** Note: Please refer to section titled "U.K. Takeover Code Required Disclosure in Connection With Possible Offer for SEGRO plc" below.
Operations - Prologis Share
Previous
Current
Average occupancy
95.00% to 95.75%
95.25% to 95.75%
Cash Same Store NOI*
6.25% to 7.00%
6.75% to 7.25%
Net Effective Same Store NOI*
4.75% to 5.50%
5.25% to 5.75%
Strategic Capital (in millions)
Previous
Current
Strategic Capital revenue, excluding promote revenue
$660 to $680
$660 to $680
Net Promote Income (Expense)1
$(50)
$0
G&A (in millions)
Previous
Current
General & administrative expenses
$510 to $525
$510 to $525
Capital Deployment - Prologis Share (in millions)2
Previous
Current
Development stabilizations
$2,250 to $2,750
$2,250 to $2,750
Development starts
$3,500 to $4,500
$4,500 to $5,500
Acquisitions
$1,000 to $1,500
$1,500 to $2,000
Contributions
$1,750 to $2,250
$2,000 to $2,500
Dispositions
$1,750 to $2,250
$2,250 to $2,750
Realized development gains
$500 to $700
$600 to $700
Net promote expense relates to amortization of stock compensation issued to employees related to promote income recognized in prior periods. Inclusive of data centers. *This is a non-GAAP financial measure. See the Notes and Definitions in our supplemental information for further explanation and a reconciliation to the most directly comparable GAAP measure.
The earnings guidance described above includes potential gains recognized from real estate transactions but excludes any future or potential foreign currency or derivative gains or losses as our guidance assumes constant foreign currency rates. In reconciling from net earnings to Core FFO*, Prologis makes certain adjustments, including but not limited to our share of real estate depreciation and amortization expense, gains (losses) recognized from real estate transactions and early extinguishment of debt, impairment charges, deferred taxes and unrealized gains or losses on foreign currency or derivative activity. The difference between the company's Core FFO* and net earnings guidance relates predominantly to these items. Please refer to our quarterly Supplemental Information, which is available on our Investor Relations website at https://ir.prologis.com and on the SEC's website at www.sec.gov for a definition of Core FFO* and other non-GAAP measures used by Prologis, along with reconciliations of these items to the closest GAAP measure for our results and guidance.
U.K. TAKEOVER CODE REQUIRED DISCLOSURE IN CONNECTION WITH POSSIBLE OFFER FOR SEGRO PLC
Prologis' Earnings (per diluted share) guidance set forth above (the "Profit Forecast") constitutes a profit forecast for the purposes of Rule 28 of the U.K. City Code on Takeovers and Mergers (the "Code"). The U.K. Takeover Panel has granted Prologis a dispensation from the Code requirement to include a report from a reporting accountant and Prologis' financial advisers in respect of the Profit Forecast. SEGRO plc has agreed to Prologis receiving this dispensation, on the basis that: (i) the Profit Forecast is presented on a basis consistent with Prologis' ordinary course quarterly guidance; and (ii) the Prologis board of directors is providing the confirmations in respect of the Profit Forecast stated below. The U.K. Takeover Panel has granted its dispensation on the same basis.
Prologis' board of directors has considered the Profit Forecast and confirms that the Profit Forecast is valid and has been properly compiled on the basis of the assumptions, and subject to the factors, set forth in the "Forward-Looking Statements" disclaimer below and that the basis of accounting used in preparing the Profit Forecast is consistent with the accounting policies of Prologis.
The Profit Forecast and certain other statements set forth in this announcement constitute "forward-looking statements" as described in the "Forward-Looking Statements" disclaimer below, and investors should consider the Profit Forecast and such other statements in the context of being so disclaimed.
JULY 16, 2026, CALL DETAILS
The call will take place on Thursday, July 16, 2026, at 9:00 a.m. PT/12:00 p.m. ET. To access a live broadcast of the call, please dial +1 (877) 897-2615 (toll-free from the United States and Canada) or +1 (201) 689-8514 (from all other countries). A live webcast can be accessed from the Investor Relations section of www.prologis.com.
A telephonic replay will be available July 16 - July 30 at +1 (877) 660-6853 (from the United States and Canada) or +1 (201) 612-7415 (from all other countries) using access code 13757425. The webcast replay will be posted in the Investor Relations section of www.prologis.com under "Events & Presentations."
ABOUT PROLOGIS
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.
FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.
dollars in millions, except per share/unit data
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Rental and other revenues
$ 2,183
$ 2,037
$ 4,321
$ 4,036
Strategic capital revenues
242
147
402
288
Total revenues
2,425
2,184
4,723
4,324
Net earnings attributable to common stockholders
1,061
570
2,041
1,161
Core FFO attributable to common stockholders/unitholders*
1,559
1,396
3,000
2,752
AFFO attributable to common stockholders/unitholders*
1,323
1,036
2,795
2,120
Adjusted EBITDA attributable to common stockholders/unitholders*
2,143
1,789
4,321
3,561
Estimated value creation from development stabilizations - Prologis Share
89
64
477
304
Common stock dividends and common limited partnership unit distributions
1,027
966
2,053
1,931
Per common share - diluted:
Net earnings attributable to common stockholders
$ 1.13
$ 0.61
$ 2.18
$ 1.25
Core FFO attributable to common stockholders/unitholders*
1.63
1.46
3.13
2.88
Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income (Expense)*
1.60
1.47
3.12
2.91
Business line reporting:
Real estate*
1.54
1.40
2.99
2.76
Strategic capital*
0.09
0.06
0.14
0.12
Core FFO attributable to common stockholders/unitholders*
1.63
1.46
3.13
2.88
Realized development gains, net of taxes*
0.09
0.01
0.39
0.04
Dividends and distributions per common share/unit
1.07
1.01
2.14
2.02
*This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation.
in thousands
June 30, 2026
March 31, 2026
December 31, 2025
Assets:
Investments in real estate properties:
Operating properties
$ 82,117,896
$ 80,875,731
$ 80,561,020
Development portfolio
2,741,535
2,492,161
3,019,009
Land
4,802,617
4,684,949
4,888,153
Other real estate investments
7,351,737
7,188,604
6,661,174
97,013,785
95,241,445
95,129,356
Less accumulated depreciation
15,783,188
15,298,353
14,729,149
Net investments in real estate properties
81,230,597
79,943,092
80,400,207
Investments in and advances to unconsolidated entities
11,467,403
11,241,723
11,093,936
Assets held for sale or contribution
498,975
499,799
203,344
Net investments in real estate
93,196,975
91,684,614
91,697,487
Cash and cash equivalents
1,765,043
861,144
1,145,647
Other assets
6,049,854
5,587,693
5,881,122
Total assets
$ 101,011,872
$ 98,133,451
$ 98,724,256
Liabilities and Equity:
Liabilities:
Debt
$ 36,442,085
$ 34,669,592
$ 35,037,073
Accounts payable, accrued expenses and other liabilities
Operating income before gains on real estate transactions, net
$ 959,691
$ 855,191
$ 1,786,723
$ 1,669,354
Gains on dispositions of development properties and land, net
79,196
10,477
372,179
37,928
Gains on other dispositions of investments in real estate, net
212,449
47,044
303,489
83,843
Operating income
$ 1,251,336
$ 912,712
$ 2,462,391
$ 1,791,125
Other income (expense):
Earnings from unconsolidated entities, net
147,470
107,692
240,766
175,591
Interest expense
(276,311)
(251,866)
(530,597)
(483,617)
Foreign currency, derivative and other gains (losses) and other income (expense), net
109,663
(122,829)
154,274
(154,487)
Gains (losses) on early extinguishment of debt, net
(31)
—
(1,921)
—
Total other income (expense)
(19,209)
(267,003)
(137,478)
(462,513)
Earnings before income taxes
1,232,127
645,709
2,324,913
1,328,612
Current income tax benefit (expense)
(89,319)
(27,723)
(137,100)
(64,424)
Deferred income tax benefit (expense)
(18,854)
4,318
(19,044)
(2,364)
Consolidated net earnings
1,123,954
622,304
2,168,769
1,261,824
Net earnings attributable to noncontrolling interests
(39,062)
(37,139)
(79,040)
(68,715)
Net earnings attributable to noncontrolling interests - limited partnership units
(22,701)
(13,936)
(45,562)
(28,927)
Net earnings attributable to controlling interests
1,062,191
571,229
2,044,167
1,164,182
Preferred stock dividends
(1,347)
(1,505)
(2,847)
(2,957)
Net earnings attributable to common stockholders
$ 1,060,844
$ 569,724
$ 2,041,320
$ 1,161,225
Weighted average common shares outstanding - Diluted
957,884
955,882
957,654
955,601
Net earnings per share attributable to common stockholders - Diluted
$ 1.13
$ 0.61
$ 2.18
$ 1.25
Three Months Ended
Six Months Ended
June 30,
June 30,
in thousands
2026
2025
2026
2025
Net earnings attributable to common stockholders
$ 1,060,844
$ 569,724
$ 2,041,320
$ 1,161,225
Add (deduct) NAREIT defined adjustments:
Real estate related depreciation and amortization
663,658
638,199
1,369,208
1,270,885
Gains on other dispositions of investments in real estate, net of taxes (excluding development properties and land)
(210,975)
(46,964)
(302,015)
(82,771)
Adjustments related to noncontrolling interests
(13,356)
(17,339)
(24,093)
(35,746)
Our proportionate share of adjustments related to unconsolidated entities
132,185
133,734
283,340
284,358
NAREIT defined FFO attributable to common stockholders/unitholders*
$ 1,632,356
$ 1,277,354
$ 3,367,760
$ 2,597,951
Add (deduct) our modified adjustments:
Unrealized foreign currency, derivative and other losses (gains), net
(5,370)
137,817
(19,639)
192,715
Deferred income tax expense (benefit)
18,854
(4,318)
19,044
2,364
Adjustments related to noncontrolling interests
(215)
—
497
—
Our proportionate share of adjustments related to unconsolidated entities
(5,437)
(3,136)
(6,162)
(1,765)
FFO, as modified by Prologis attributable to common stockholders/unitholders*
$ 1,640,188
$ 1,407,717
$ 3,361,500
$ 2,791,265
Add (deduct) Core FFO defined adjustments:
Gains on dispositions of development properties and land, net
(79,196)
(10,477)
(372,179)
(37,928)
Current income tax expense (benefit) on dispositions
6,758
659
8,060
803
Losses (gains) on early extinguishment of debt, net
31
—
1,921
—
Venture formation costs
6,049
—
6,049
—
Adjustments related to noncontrolling interests
—
2,748
271
2,821
Our proportionate share of adjustments related to unconsolidated entities
(14,703)
(4,665)
(6,002)
(4,948)
Core FFO attributable to common stockholders/unitholders*
$ 1,559,127
$ 1,395,982
$ 2,999,620
$ 2,752,013
Add (deduct) AFFO defined adjustments:
Gains on dispositions of development properties and land, net
79,196
10,477
372,179
37,928
Current income tax benefit (expense) on dispositions
(6,758)
(659)
(8,060)
(803)
Straight-lined rents and amortization of lease intangibles
(161,152)
(187,801)
(326,901)
(368,162)
Property improvements
(71,218)
(68,772)
(97,283)
(103,139)
Turnover costs
(133,959)
(152,242)
(257,775)
(275,365)
Amortization of debt discount, financing costs and management contracts, net
21,986
22,209
43,386
43,321
Stock compensation amortization expense
55,148
43,984
115,780
97,145
Adjustments related to noncontrolling interests
20,001
18,594
39,629
32,576
Our proportionate share of adjustments related to unconsolidated entities
(39,404)
(45,863)
(85,715)
(95,682)
AFFO attributable to common stockholders/unitholders*
$ 1,322,967
$ 1,035,909
$ 2,794,860
$ 2,119,832
*This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation.
Three Months Ended
Six Months Ended
June 30,
June 30,
in thousands
2026
2025
2026
2025
Net earnings attributable to common stockholders
$ 1,060,844
$ 569,724
$ 2,041,320
$ 1,161,225
Gains on other dispositions of investments in real estate, net (excluding development properties and land)
(212,449)
(47,044)
(303,489)
(83,843)
Depreciation and amortization expense
689,518
657,221
1,421,024
1,309,279
Interest charges
255,798
235,858
493,706
451,508
Current and deferred income tax expense, net
108,173
23,405
156,144
66,788
Net earnings attributable to noncontrolling interests - limited partnership units
22,701
13,936
45,562
28,927
NOI adjustments for real estate transactions
4,926
2,481
14,190
10,310
Preferred stock dividends
1,347
1,505
2,847
2,957
Unrealized foreign currency, derivative and other losses (gains), net
(5,370)
137,817
(19,639)
192,715
Stock compensation amortization expense
55,148
43,984
115,780
97,145
Losses (gains) on early extinguishment of debt, net
31
—
1,921
—
Venture formation costs
6,049
—
6,049
—
Adjustments related to noncontrolling interests
(36,884)
(31,819)
(70,428)
(65,669)
Our proportionate share of adjustments related to unconsolidated entities
192,790
182,264
415,669
389,426
Adjusted EBITDA attributable to common stockholders/unitholders*
$ 2,142,622
$ 1,789,332
$ 4,320,656
$ 3,560,768
*This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation.
Adjusted EBITDA. We use Adjusted EBITDA attributable to common stockholders/unitholders ("Adjusted EBITDA"), a non-GAAP financial measure, as a measure of our operating performance. The most directly comparable GAAP measure is net earnings.
We believe Adjusted EBITDA provides relevant and useful information by offering insight into our operating performance before the effects of financing decisions, income taxes, and certain non-cash or non-recurring charges.
We calculate Adjusted EBITDA by beginning with consolidated net earnings attributable to common stockholders and removing the effect of:
gains or losses from the disposition of investments in real estate (excluding development properties and land); depreciation and amortization expense; impairment charges; interest charges; current and deferred income taxes; preferred stock dividends; unrealized gains or losses on foreign currency and derivatives; stock compensation amortization expense; gains from the revaluation of equity investments upon acquisition of a controlling interest; gains or losses on early extinguishment of debt and derivative contracts (including cash charges); and third-party costs associated with the successful formation of new ventures. We also include an adjustment to reflect a full period of NOI on the operating properties we acquire or stabilize during the quarter and to remove NOI on properties we dispose of during the quarter, assuming all transactions occurred at the beginning of the quarter. For properties we contribute, we make an adjustment to reflect NOI at the new ownership percentage for the full quarter.
We calculate Adjusted EBITDA based on our proportionate ownership share of both our unconsolidated entities and consolidated ventures. We reflect our share of Adjusted EBITDA measures for unconsolidated entities by applying our average ownership percentage for the period to the applicable adjusting items on an entity-by-entity basis. We reflect our share for consolidated ventures in which we do not own 100% of the equity by removing the noncontrolling interests share of the applicable adjustments based on our average ownership percentage for the applicable periods.
While we believe Adjusted EBITDA is an important supplemental measure, it should not be used alone as it excludes significant components of net earnings computed under GAAP and is therefore limited as an analytical tool. We do not use Adjusted EBITDA as an alternative measure to net earnings computed under GAAP or as an alternative to cash from operating activities computed under GAAP or as an indicator of our ability to fund our cash needs. Our computation of Adjusted EBITDA may not be comparable to EBITDA reported by other companies in both the real estate industry and other industries. We compensate for the limitations of Adjusted EBITDA by providing investors with financial statements prepared according to GAAP, along with this detailed discussion of Adjusted EBITDA and a reconciliation to Adjusted EBITDA from consolidated net earnings attributable to common stockholders.
Business Line Reporting is a non-GAAP financial measure. Core FFO and development gains are generated by our three lines of business: (i) real estate operations; (ii) strategic capital; and (iii) development. The real estate operations line of business represents total Prologis Core FFO, less the amount allocated to the strategic capital line of business. The amount of Core FFO allocated to the strategic capital line of business represents the third-party share of asset management fees and transactional fees that we earn from our consolidated and unconsolidated co-investment ventures less costs directly associated with our strategic capital group and Net Promote Income (Expense). Realized development gains include our share of gains on dispositions of development properties and land, net of taxes. To calculate the per share amount, the amount generated by each line of business is divided by the weighted average diluted common shares outstanding used in our Core FFO per share calculation. Management believes evaluating our results by line of business is a useful supplemental measure of our operating performance because it helps the investing public compare the operating performance of Prologis' respective businesses to other companies' comparable businesses. Prologis' computation of FFO by line of business may not be comparable to that reported by other real estate companies as they may use different methodologies in computing such measures.
Calculation of Per Share Amounts
Three Months Ended
Six Months Ended
Jun. 30,
Jun. 30,
in thousands, except per share amount
2026
2025
2026
2025
Net earnings
Net earnings attributable to common stockholders
$ 1,060,844
$ 569,724
$ 2,041,320
$ 1,161,225
Noncontrolling interest attributable to exchangeable limited partnership units
22,831
13,936
45,858
28,927
Adjusted net earnings attributable to common stockholders - Diluted
$ 1,083,675
$ 583,660
$ 2,087,178
$ 1,190,152
Weighted average common shares outstanding - Basic
933,092
928,476
932,175
927,909
Incremental weighted average effect on exchange of limited partnership units
20,160
22,731
21,061
23,115
Incremental weighted average effect of equity awards
4,632
4,675
4,418
4,577
Weighted average common shares outstanding - Diluted
957,884
955,882
957,654
955,601
Net earnings per share - Basic
$ 1.14
$ 0.61
$ 2.19
$ 1.25
Net earnings per share - Diluted
$ 1.13
$ 0.61
$ 2.18
$ 1.25
Three Months Ended
Six Months Ended
Jun. 30,
Jun. 30,
in thousands, except per share amount
2026
2025
2026
2025
Core FFO
Core FFO attributable to common stockholders/unitholders
$ 1,559,127
$ 1,395,982
$ 2,999,620
$ 2,752,013
Noncontrolling interest attributable to exchangeable limited partnership units
221
258
453
552
Core FFO attributable to common stockholders/ unitholders - Diluted
$ 1,559,348
$ 1,396,240
$ 3,000,073
$ 2,752,565
Less: Net Promote Income (Expense)
26,229
(13,437)
13,847
(24,330)
Core FFO attributable to common stockholders/ unitholders, excluding Net
Promote Income (Expense) - Diluted
$ 1,533,119
$ 1,409,677
$ 2,986,226
$ 2,776,895
Weighted average common shares outstanding - Basic
933,092
928,476
932,175
927,909
Incremental weighted average effect on exchange of limited partnership units
20,160
22,990
21,061
23,383
Incremental weighted average effect of equity awards
4,632
4,675
4,418
4,577
Weighted average common shares outstanding - Diluted
957,884
956,141
957,654
955,869
Core FFO per share - Diluted
$ 1.63
$ 1.46
$ 3.13
$ 2.88
Core FFO per share, excluding Net Promote Income (Expense) - Diluted
$ 1.60
$ 1.47
$ 3.12
$ 2.91
Development Portfolio includes industrial and non-industrial properties, data centers, yards and parking lots that are under development and properties that are developed but have not met Stabilization. At June 30, 2026, total TEI for yards, parking lots, data centers and non-industrial assets was $2.9 billion on an Owned and Managed and $2.8 billion on a Prologis Share basis. We do not disclose square footage for yards and parking lots.
Estimated Value Creation represents the value that we expect to create through our development and leasing activities. We calculate Estimated Value Creation by estimating the Stabilized NOI that the property will generate and applying a stabilized capitalization rate applicable to that property. Estimated Value Creation is calculated as the amount by which the value exceeds our TEI, including closing costs and taxes, if any, and does not include any fees or promotes we may earn.
Estimated Weighted Average Margin is calculated on development properties as Estimated Value Creation, less estimated closing costs and taxes, if any, on properties expected to be sold or contributed, divided by TEI.
Estimated Weighted Average Stabilized Yield is calculated on the properties in the Development Portfolio as Stabilized NOI divided by TEI. The yields on a Prologis Share basis were as follows:
Pre-Stabilized
Developments
2026 Expected Completion
2027 and Thereafter Expected
Completion
Total Development Portfolio
U.S.
5.7 %
6.6 %
8.2 %
7.6 %
Other Americas
— %
7.6 %
7.5 %
7.6 %
Europe
5.3 %
5.3 %
5.9 %
5.4 %
Asia
5.7 %
6.2 %
4.9 %
5.2 %
Total
5.6 %
6.1 %
7.7 %
7.0 %
FFO, as modified by Prologis attributable to common stockholders/unitholders ("FFO, as modified by Prologis"); Core FFO attributable to common stockholders/unitholders ("Core FFO"); AFFO attributable to common stockholders/unitholders ("AFFO"); (collectively referred to as "FFO"). FFO is a non-GAAP financial measure that is commonly used in the real estate industry, with net earnings as the most directly comparable GAAP measure.
The National Association of Real Estate Investment Trusts ("NAREIT") defines FFO as earnings computed under GAAP to exclude depreciation and gains and losses from sales net of any related tax, along with impairment charges, of previously depreciated properties. We exclude the gains on revaluation of equity investments upon acquisition of a controlling interest and the gain recognized from a partial sale of our investment, as these are similar to gains from the sales of previously depreciated properties. This measure excludes similar adjustments from our unconsolidated entities and the third parties' share of our consolidated ventures.
Our FFO Measures
Our FFO measures begin with NARElT's definition, with certain adjustments to calculate FFO, as modified by Prologis, and Core FFO, both as defined below, to reflect our business and execution of our management strategy. While these adjustments are subject to significant fluctuations from period to period, with both positive and negative short-term impacts, the removal of the effects of these items enhances our understanding of the core operating performance of our properties over the long term.
We use FFO, as modified by Prologis, so that management, analysts and investors are able to evaluate our performance against other REITs that do not have similar operations or operations in jurisdictions outside the U.S. We use both Core FFO and AFFO to (i) assess our operating performance as compared to other real estate companies; (ii) evaluate our performance and the performance of our properties in comparison with expected results and results of previous periods; (iii) evaluate the performance of our management; (iv) budget and forecast future results to assist in the allocation of resources; (v) provide guidance to the financial markets to understand our expected operating performance; and (vi) evaluate how a specific potential investment will impact our future results.
We calculate our FFO measures based on our proportionate ownership share of both our unconsolidated entities and consolidated ventures. We reflect our share of our FFO measures for unconsolidated entities by applying our average ownership percentage for the period to the applicable adjustments on an entity-by-entity basis. We reflect our share for consolidated ventures in which we do not own 100% of the equity by removing the noncontrolling interests share of the applicable adjustments based on our average ownership percentage for the applicable periods.
FFO, as modified by Prologis
To arrive at FFO, as modified by Prologis, we adjust the NAREIT defined FFO measure to exclude:
deferred income tax benefits and deferred income tax expenses recognized by our subsidiaries; current income tax expense related to acquired tax liabilities that were recorded as deferred tax liabilities in an acquisition, to the extent the expense is offset with a deferred income tax benefit in earnings that is excluded from our defined FFO measure; and foreign currency exchange gains and losses resulting from (a) debt transactions between us and our foreign entities; (b) third-party debt that is used to hedge our investment in foreign entities; (c) derivative financial instruments related to any such debt transactions; and (d) mark-to-market adjustments associated with derivative and other financial instruments. Core FFO
To arrive at Core FFO, we adjust FFO, as modified by Prologis, to exclude the following:
gains or losses from the disposition of land and development properties that were developed with the intent to contribute or sell; income tax expense related to the sale of investments in real estate; impairment charges recognized related to our investments in real estate generally as a result of our change in intent to contribute or sell these properties; gains or losses from the early extinguishment of debt and redemption and repurchase of preferred stock; and third-party costs associated with the successful formation of new ventures. AFFO
To arrive at AFFO, we adjust Core FFO to include realized gains from the disposition of land and development properties, net of current tax expense, turnover costs and property improvements and exclude the following items that we recognize directly in Core FFO:
straight-line rents; amortization of above- and below-market lease intangibles; amortization of management contracts; amortization of debt premiums and discounts and financing costs, net of amounts capitalized; and stock compensation amortization expense. Limitations on the use of our FFO measures
While we believe our modified FFO measures are important supplemental measures, neither NAREIT's measures or our measures of FFO should be used alone because they exclude significant components of net earnings computed under GAAP and are, therefore, limited as an analytical tool. Some of these limitations arise from excluding income tax expense that may be payable or depreciation and amortization expenses that reflect costs necessary to maintain operating performance. In addition, our FFO measure does not reflect changes in asset values resulting from fluctuations in market conditions or foreign currency exchange rates nor costs or benefits from settlement of deferred income taxes or the extinguishment of debt. We do not use NAREIT's measures or our measures of FFO as alternatives to net earnings computed under GAAP or as alternatives to cash from operating activities computed under GAAP or as indicators of our ability to fund our cash needs.
We compensate for the limitations by using our FFO measures only in conjunction with net earnings computed under GAAP when making our decisions. This information should be read with our complete Consolidated Financial Statements prepared under GAAP. To assist investors in compensating for these limitations, we reconcile our modified FFO measures from consolidated net earnings attributable to common stockholders.
Guidance. The following is a reconciliation of our annual guided Net Earnings per share to our guided Core FFO per share:
Low
High
Net earnings attributable to common stockholders (a)
$ 4.40
$ 4.55
Our share of:
Depreciation and amortization
3.26
3.29
Net gains on real estate transactions, net of taxes
(1.45)
(1.55)
Unrealized foreign currency losses (gains), losses (gains) on early
extinguishment of debt and other, net
0.01
0.01
Core FFO attributable to common stockholders/unitholders
$ 6.22
$ 6.30
Less: Net Promote Income (Expense)
—
—
Core FFO attributable to common stockholders/unitholders, excluding Net Promote
Income (Expense)
$ 6.22
$ 6.30
(a)
Earnings guidance includes potential future gains recognized from real estate transactions, but excludes future foreign currency or derivative gains or
losses as these items are difficult to predict.
Market Capitalization equals Market Equity, less liquidation preference of the preferred shares/units, plus our share of total debt.
Net Promote Income (Expense) is promote revenue earned from third-party investors during the period, net of related cash and stock compensation expenses, and taxes and foreign currency derivative gains and losses, if applicable.
Operating Portfolio represents industrial properties in our Owned and Managed portfolio that have reached Stabilization. Assets held for sale, Non-Strategic Assets and non-industrial assets are excluded from the portfolio. NOI of our Operating Portfolio excludes net termination fees and adjustments. Prologis Share of NOI includes NOI for the properties contributed to or acquired from co-investment ventures at our actual share prior to and subsequent to change in ownership. The U.S. markets not presented consist of Austin, Charlotte, Columbus, Denver, Louisville, Portland, Raleigh-Durham, Reno, San Antonio, Savannah and Tampa. The European countries not presented consist of Belgium, Czech Republic, Hungary, Italy, Poland, Slovakia, Spain and Sweden.
Owned and Managed represents the consolidated properties as well as properties owned by our unconsolidated co-investment ventures, which we manage.
Prologis Share represents our proportionate economic ownership of each entity, or property included in our total Owned and Managed portfolio, whether consolidated or unconsolidated.
Rent Change (Cash) represents the percentage change in starting rental rates per the lease agreement, on new and renewed leases, commenced during the period compared with the previous ending rental rates in that same space. This measure excludes any short-term leases of less than one-year, holdover payments, free rent periods and introductory (teaser rates) defined as 50% or less of the stabilized rate.
Rent Change (Net Effective) represents the percentage change in net effective rental rates (average rate over the lease term), on new and renewed leases, commenced during the period compared with the previous net effective rental rates for the same respective spaces. This measure excludes any short-term leases of less than one year and holdover payments.
Retention is the square footage of all leases commenced during the period that are rented by existing tenants divided by the square footage of all expiring leases during the reporting period. The square footage of tenants that default or buy-out prior to expiration of their lease and short-term leases of less than one year, are not included in the calculation.
Same Store. Our same store metrics are non-GAAP financial measures, which are commonly used in the real estate industry and expected from the financial community, on both a net effective and cash basis. We evaluate the performance of the operating properties we own and manage using a "same store" analysis because the population of properties in this analysis is consistent from period to period, which allows us and investors to analyze our ongoing business operations. We determine our same store metrics on property NOI, which is calculated as rental revenue less rental expense for the applicable properties in the same store population for both consolidated and unconsolidated properties based on our ownership interest, as further defined below.
We define our same store population for the three months ended June 30, 2026 as the properties in our Owned and Managed Operating Portfolio, including the property NOI for both consolidated properties and properties owned by the unconsolidated co-investment ventures at January 1, 2025 and owned throughout the same three-month period in both 2025 and 2026.
We believe the drivers of property NOI for the consolidated portfolio are generally the same for the properties owned by the ventures in which we invest and therefore we evaluate the same store metrics of the Owned and Managed portfolio based on Prologis' ownership in the properties ("Prologis Share").
The same store population excludes properties held for sale to third parties, along with development properties that were not stabilized at the beginning of the period (January 1, 2025) and properties acquired or disposed of to third parties during the periods. To derive an appropriate measure of period- to-period operating performance, we remove the effects of foreign currency exchange rate movements by using the reported period-end exchange rate to translate from local currency into the U.S dollar, for both periods.
As non-GAAP financial measures, the same store metrics have certain limitations as an analytical tool and may vary among real estate companies. As a result, we provide a reconciliation of Rental Revenues less Rental Expenses ("Property NOI") (from our Consolidated Financial Statements prepared in accordance with U.S GAAP) to our Same Store Property NOI measures, as follows:
Three Months Ended
Jun. 30,
dollars in thousands
2026
2025
Change (%)
Reconciliation of Consolidated Property NOI to Same Store Property NOI measures:
Rental revenues
$ 2,177,074
$ 2,025,332
Rental expenses
(530,861)
(487,963)
Consolidated Property NOI
$ 1,646,213
$ 1,537,369
Adjustments to derive same store results:
Property NOI from consolidated properties not included in same
store portfolio and other adjustments (a)
(179,260)
(158,079)
Property NOI from unconsolidated co-investment ventures
included in same store portfolio (a)(b)
1,000,076
939,990
Third parties' share of Property NOI from properties included in
same store portfolio (a)(b)
(777,776)
(731,166)
Prologis Share of Same Store Property NOI - Net Effective (b)
$ 1,689,253
$ 1,588,114
6.4 %
Consolidated properties straight-line rent and fair value lease
amortization included in the same store portfolio (c)
(128,107)
(144,879)
Unconsolidated co-investment ventures straight-line rent and fair
value lease amortization included in the same store portfolio (c)
(34,940)
(37,338)
Third parties' share of straight-line rent and fair value lease
amortization included in the same store portfolio (b)(c)
29,086
28,117
Prologis Share of Same Store Property NOI - Cash (b)(c)
$ 1,555,292
$ 1,434,014
8.5 %
(a)
We exclude properties held for sale to third parties, along with development properties that were not stabilized at the beginning of the periods and properties acquired or disposed of to third parties during the periods. We also exclude one-time items due to early lease terminations, including termination fees received from customers and the write-off of related lease assets and liabilities, that are not indicative of the property's recurring operating performance in order to evaluate the growth or decline in each property's rental revenues. Same Store Property NOI is adjusted to include an allocation of property management expenses for our consolidated properties based on the property management services provided to each property (generally, based on a percentage of revenues). On consolidation, these amounts are eliminated and the actual costs of providing property management and leasing services are recognized as part of our consolidated rental expense.
(b)
We include the Property NOI for the same store portfolio for both consolidated properties and properties owned by the co-investment ventures based on our investment in the underlying properties. In order to calculate our share of Same Store Property NOI from the co-investment ventures in which we own less than 100%, we use the co-investment ventures' underlying Property NOI for the same store portfolio and apply our ownership percentage at June 30, 2026 to the Property NOI for both periods, including the properties contributed during the periods. We adjust the total Property NOI from the same store portfolio of the co-investment ventures by subtracting the third parties' share of both consolidated and unconsolidated co-investment ventures. During the periods presented, certain wholly owned properties were contributed to a co-investment venture and are included in the same store portfolio. Neither our consolidated results nor those of the co-investment ventures, when viewed individually, would be comparable on a same store basis because of the changes in composition of the respective portfolios from period to period (e.g. the results of a contributed property are included in our consolidated results through the contribution date and in the results of the venture subsequent to the contribution date based on our ownership interest at the end of the period). As a result, only line items labeled "Prologis Share of Same Store Property NOI" are comparable period over period.
(c)
We further remove certain noncash items (straight-line rent and fair value lease amortization) included in the financial statements prepared in accordance with U.S. GAAP to reflect a Same Store Property NOI - Cash measure.
We manage our business and compensate our executives based on the same store results of our Owned and Managed portfolio at 100% as we manage our portfolio on an ownership blind basis. We calculate those results by including 100% of the properties included in our same store portfolio.
Stabilization is defined as the earlier of when a property that was developed has been completed for one year, is contributed to a co-investment venture following completion or is 90% occupied. Upon Stabilization, a property is moved into our Operating Portfolio.
Total Expected Investment ("TEI") represents total estimated cost of development or expansion, including land, development and leasing costs. TEI is based on current projections and is subject to change.
Weighted Average Interest Rate is based on the effective rate, which includes the amortization of related premiums and discounts and finance costs.
Weighted Average Stabilized Capitalization ("Cap") Rate is calculated as Stabilized NOI divided by the Acquisition Price.
Coinbase se připojila k více než 140členné alianci podporující nový stablecoin OUSD, čímž snižuje závislost na USDC. V roce 2025 jí výnosy ze stablecoinů vzrostly o 48 % na 1,35 miliardy USD.
On June 30, Coinbase (COIN +3.56%) joined a coalition of more than 140 financial, tech, and retail companies to back a new stablecoin called Open USD (OUSD). That move was surprising, since Coinbase was a founding partner for Circle's (CRCL +3.91%) USDC (USDC +0.00%) stablecoin, and it still retains all the interest income from USDC on its own exchange.
But with that crucial revenue-sharing partnership with Circle set to expire on Aug. 18, Coinbase appears interested in supporting other stablecoins, such as OUSD, to reduce its exposure to USDC. That shift already crushed Circle's stock, but what does it mean for Coinbase's stock?
Image source: Getty Images.
Why is Coinbase joining that big coalition? Circle is the only company that mints and manages USDC. Circle also generates most of its revenue by earning interest on the cash and U.S. Treasuries it holds to back the stablecoin. Coinbase and a few other companies get a cut of that interest, known as reserve income.
With OUSD, the entire coalition of companies -- including Coinbase, Visa, Mastercard, Stripe, BlackRock, Alphabet's Google, and Shopify -- will jointly manage the cryptocurrency and split its reserve income. That democratization and decentralization represent a major threat to Circle, but it's bullish for Coinbase.
Today's Change
(
3.56
%) $
5.75
Current Price
$
167.25
Coinbase can renew its revenue-sharing agreement with Circle and continue to support OUSD's planned launch later this year. As one of the world's largest cryptocurrency exchanges, it will profit from the rising adoption of stablecoins, regardless of which token rises to the top.
In 2025, Coinbase's revenue from stablecoins rose 48% year over year to $1.35 billion, accounting for nearly 19% of its top line. If the CLARITY Act is finally signed into law with a favorable outcome for stablecoin yields, that business could grow even faster and reduce Coinbase's dependence on more volatile cryptocurrencies.
What does this alliance mean for Coinbase's stock? In the past, Coinbase's revenue was pinned to the crypto market's boom-and-bust cycles. But if stablecoins are more widely adopted as a faster, cheaper, and more privacy-oriented alternative to U.S. dollars, Coinbase's exposure to those choppy market cycles will decrease.
From 2025 to 2028, analysts expect Coinbase's revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to both grow at CAGRs of 4%. Those growth rates might seem weak for a stock that trades at 21 times this year's adjusted EBITDA.
However, those forecasts could rise once interest rates decline, more investors rotate back to cryptocurrencies, and a new crypto summer begins. The approval of stablecoins will amplify those gains. If you expect those tailwinds to kick in and help Coinbase crush analysts' estimates, it could still be a great time to accumulate its out-of-favor stock.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, BlackRock, Mastercard, Shopify, and Visa. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.
The State Street logo in this illustration taken April 24, 2026. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
July 16 (Reuters) - Custodian bank State Street (STT.N), opens new tab reported a rise in profit on Thursday, driven by a jump in fees earned from managing client assets.
Shares of the bank, which have gained nearly 45% in 2026 and outperformed the broader markets, were up 1.8% in trading before the bell.
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Here are more details from the earnings report:
The bank's assets under custody and administration jumped 18% to $57.86 trillion in the three months ended June 30 from a year earlier, driven by higher market levels, flows and net new business.
State Street reported investment management assets under management of $6.28 trillion, a growth of 23% over the year-ago period.
Its total fee revenue rose 17% to $3.19 billion in the quarter.
The bank's foreign exchange trading services revenue jumped nearly 26% to $494 million in the quarter, boosted by higher client volumes mostly in Asia-Pacific.
Its quarterly profit rose to $1.08 billion, or $3.65 per share, from $693 million, or $2.17 per share, a year earlier.
Reporting by Pritam Biswas in Bengaluru; Editing by Shreya Biswas
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Allstate oznámila odhad katastrofických ztrát za červen ve výši 563 milionů USD, po zdanění 445 milionů USD. Za 2. čtvrtletí činily 1,72 miliardy USD, po zdanění 1,36 miliardy USD.
, /PRNewswire/ -- The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of June of $563 million or $445 million, after-tax. Total catastrophe losses for the second quarter were $1.72 billion or $1.36 billion, after-tax.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.
Forward-Looking Statements
This news release contains "forward-looking statements" that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like "plans," "seeks," "expects," "will," "should," "anticipates," "estimates," "intends," "believes," "likely," "targets" and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.
About Allstate
The Allstate Corporation (NYSE: ALL) protects people from life's uncertainties with affordable, simple and connected protection for autos, homes, electronic devices, and identities. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online, and at the workplace. Allstate has 212 million policies in force and is widely known for the slogan "You're in Good Hands with Allstate." For more information, visit www.allstate.com.
BEIJING, China, July 16, 2026 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, today officially launched the new Li L6, a versatile all-wheel drive SUV. The vehicle is priced at RMB249,800 for its standard configuration. Deliveries of the new Li L6 will commence within a week. For more details on the new Li L6, please visit Li Auto’s official website.
About Li Auto Inc.
Li Auto Inc. is a leader in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Its mission is: Be Proactive, Change the World. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and comfortable products and services. Li Auto is a pioneer in successfully commercializing extended-range electric vehicles in China. While firmly advancing along this technological route, it builds platforms for battery electric vehicles in parallel. The Company leverages technology to create value for users. It concentrates its in-house development efforts on proprietary range extension systems, innovative electric vehicle technologies, and smart vehicle solutions. The Company started volume production in November 2019. It offers high-tech flagship family MPVs, Li L series extended-range electric SUVs, and Li i series battery electric SUVs. The Company will continue to expand its product lineup to target a broader user base.
For more information, please visit: https://ir.lixiang.com.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “targets,” “likely to,” “challenges,” and similar statements. Li Auto may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “HKEX”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about Li Auto’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Li Auto’s strategies, future business development, and financial condition and results of operations; Li Auto’s limited operating history; risks associated with extended-range electric vehicles and high-power charging battery electric vehicles; Li Auto’s ability to develop, manufacture, and deliver vehicles of high quality and appeal to customers; Li Auto’s ability to generate positive cash flow and profits; product defects or any other failure of vehicles to perform as expected; Li Auto’s ability to compete successfully; Li Auto’s ability to build its brand and withstand negative publicity; cancellation of orders for Li Auto’s vehicles; Li Auto’s ability to develop new vehicles; and changes in consumer demand and government incentives, subsidies, or other favorable government policies. Further information regarding these and other risks is included in Li Auto’s filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and Li Auto does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Halliburton očekává za 2. čtvrtletí zisk 54 centů na akcii při tržbách 5,5 miliardy USD. Rizikem jsou narušení na Blízkém východě, která mohou snížit EPS o 7–9 centů.
Key Takeaways Halliburton is expected to report Q2 EPS of 54 cents on revenues of $5.5 billion.North American completion demand and tighter premium equipment could support segment income.Middle East disruptions may reduce quarterly EPS by 7-9 cents and weigh on profitability. Halliburton Company (HAL - Free Report) is set to release second-quarter results on July 21. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a profit of 54 cents per share on revenues of $5.5 billion.
Let’s delve into the factors that might have influenced the oilfield service firm’s performance in the June quarter. But it’s worth taking a look at HAL’s previous-quarter performance first.
Highlights of Q1 Earnings & Surprise HistoryIn the last reported quarter, this Houston, TX-based provider of technical products and services to drillers of oil and gas wells beat the consensus mark, reflecting successful cost reduction initiatives. Halliburton reported net income per share of 55 cents, outperforming the Zacks Consensus Estimate of 49 cents. Revenues of $5.4 billion beat the Zacks Consensus Estimate by 2.4%.
HAL beat the Zacks Consensus Estimate thrice in the last four quarters and matched it in the other. This is depicted in the graph below:
Trend in Estimate RevisionThe Zacks Consensus Estimate for the second-quarter bottom line has remained unchanged in the past seven days. The estimated figure indicates a 1.8% decline year over year. The Zacks Consensus Estimate for revenues, meanwhile, suggests a 0.5% decrease from the year-ago period.
Factors to ConsiderNorth American completion activity could have supported Halliburton in the second quarter. Management had pointed out that gaps in the fracturing schedule have largely disappeared, more customers are requesting short-notice work, and premium equipment is becoming tighter. These signs suggest stronger demand for the Completion & Production segment, which provides hydraulic fracturing and related well-completion services. Consequently, the Zacks Consensus Estimate for the company’s second-quarter operating income from the segment is pegged at $479 million, up from $439 million in the first quarter of 2026.
International drilling momentum could have provided another earnings tailwind. Halliburton expects growth outside the Middle East to be led by Latin America, while offshore work in Guyana, Suriname, Brazil and Norway remains active. This is expected to have supported the Drilling & Evaluation segment, which helps customers locate reservoirs, drill wells and assess underground formations. Recent contract wins, automated drilling technology and stronger project-management work could have improved activity levels, partly offset by declining seasonal software sales.
On a bearish note, Middle East disruptions are the main risk to second-quarter earnings and could affect both major segments. Reduced offshore and land activity may have lowered demand for drilling, evaluation, completion tools and pressure-pumping services, while alternative transport routes, fuel inflation and higher material costs could squeeze profitability. Halliburton estimates a 7-9-cent-per-share quarterly impact, assuming some offshore work restarts midway through the period. A slower restart could create additional headwinds, making the timing and pace of regional recovery particularly important.
What Does Our Model Say?The proven Zacks model does not conclusively show that Halliburton is likely to beat estimates in the second quarter of 2026. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: HAL has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 54 cents per share each.
Zacks Rank: Halliburton currently carries a Zacks Rank #2, which increases the predictive power of ESP. However, the company’s 0.00% ESP makes surprise prediction difficult this earnings season.
Stocks to ConsiderWhile an earnings beat looks uncertain for Halliburton, here are some energy firms that you may want to consider on the basis of our model:
Liberty Energy (LBRT - Free Report) : It has an Earnings ESP of +61.54% and a Zacks Rank #2. Liberty Energy is scheduled to release earnings on July 22.
You can see the complete list of today’s Zacks #1 Rank stocks here.
For 2026, LBRT has a projected earnings growth rate of 80%. Valued at around $4.1 billion, it has gained 116.7% in a year.
HF Sinclair (DINO - Free Report) : It has an Earnings ESP of +11.69% and a Zacks Rank #2. HF Sinclair is scheduled to release earnings on July 28.
For 2026, HF Sinclair has a projected earnings growth rate of 103%. Valued at around $15 billion, DINO has gained 92% in a year.
Patterson-UTI Energy (PTEN - Free Report) : It has an Earnings ESP of +12.50% and a Zacks Rank #2. Patterson-UTI Energy is scheduled to release earnings on July 29.
Patterson-UTI Energy beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other, with the average being 28%. Valued at around $3.7 billion, PTEN has gone up 63.2% in a year.
Continued supply shortages, dramatic price increases, surging AI demand, and persistent competition across international markets have all contributed to volatility in the computer memory industry. With the impending IPO of China's ChangXin Memory Technologies, the landscape is likely to only become more competitive and uncertain in the near-term. Still, many tech firms are scrambling to secure supply despite an intensifying marketplace and new competition.
The result is an environment that could be beneficial to many participants in the memory storage space, although for different reasons. Makers of hard disk drives (HDDs) face different challenges and opportunities than companies behind NAND flash tools or enterprise solid-state drives (SSDs), for instance. This means that companies including Seagate Technology NASDAQ: STX, Western Digital Corp. NASDAQ: WDC, and Sandisk Corp. NASDAQ: SNDK can all find a niche and, potentially, room for further share price appreciation.
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Seagate's HDD Business Soars, But What Upside Remains?Overall MarketRank™94th Percentile
Analyst RatingModerate Buy
Upside/Downside8.5% Upside
Short Interest LevelHealthy
Dividend StrengthWeak
News Sentiment0.93 Insider TradingSelling Shares
Proj. Earnings Growth91.80%
See Full Analysis
Seagate is a major manufacturer of HDDs, which are increasingly popular among hyperscalers because they remain cheaper alternatives to some other types of memory products. The company is also an emerging leader in heat-assisted magnetic recording (HAMR), an advanced technology that may be poised for a demand surge in the coming years.
This positioning has benefited Seagate's financial performance considerably: in the latest quarter, the company grew revenue by 44% year over year (YOY) to $3.1 billion while achieving a non-GAAP gross margin of 47%. Both top- and bottom-line performance came in well ahead of analyst expectations, as the firm beat predictions for earnings per share (EPS) by a solid 59 cents. HAMR momentum in particular helped to drive some of these gains.
Strong guidance for the foreseeable future and a long-term revenue growth target of at least 20% per year suggest that Seagate may be able to continue to ride this momentum, which has already contributed to shares coming close to tripling year to date (YTD). Even still, analysts expect additional upside, with a consensus price target close to $899, and 22 of 27 ratings for STX are Buys.
What investors might watch out for with this stock are its potential for future growth, given its dramatic rally in recent months, as well as its heavy reliance on HDDs and related technologies.
Western Digital's Cleaner Post-Spin-Off Business Finds Its LegsOverall MarketRank™88th Percentile
Analyst RatingModerate Buy
Upside/Downside1.3% Upside
Short Interest LevelHealthy
Dividend StrengthWeak
News Sentiment0.76 Insider TradingSelling Shares
Proj. Earnings Growth87.71%
See Full Analysis
Western Digital has had almost a year and a half since officially spinning off Sandisk as a separate company focused on flash memory and SSD. The result is a company that is streamlined to focus on enterprise HDDs, with strong pricing and improving profitability metrics. While the firm is likely behind Seagate on its capacity to commercialize HAMR products and has a smaller share of the enterprise HDD space, its long-term agreements give it strong support for years to come.
In the most recent quarter, Western Digital boosted revenue by 45% YOY to $3.3 billion while almost doubling EPS over the same period. Its gross margin of 50.5% is also notable, as the firm was able to cut more than $3 billion in debt and generated close to $1 billion in free cash flow. At the same time, Western Digital has been aggressive about shareholder value returns, repurchasing $752 million in stock last quarter and boosting its dividend in the process.
Like STX, WDC shares have almost tripled YTD, and analysts suspect that this momentum may have stalled somewhat. Still, 20 out of 24 call WDC a Buy heading into the second half of the year.
Sandisk Stock Remains in Focus After Its Spin-OffOverall MarketRank™89th Percentile
Analyst RatingModerate Buy
Upside/Downside11.7% Upside
Short Interest LevelHealthy
Dividend StrengthWeak
News Sentiment0.63 Insider TradingSelling Shares
Proj. Earnings Growth186.42%
See Full Analysis
Investors considering Western Digital will also want to look at how Sandisk has fared after the spin-off. SNDK shares are up some 458% YTD, a massive rally to be sure, but have fallen by more than 27% in the last month. This volatility makes SNDK stand out somewhat in the memory space but could also present opportunities for investors willing to accept the risk.
On the business side, Sandisk has performed exceptionally well: the latest quarter brought several multi-year new business agreements worth tens of billions of dollars, 251% YOY revenue improvement to nearly $6 billion, adjusted free cash flow of almost $3 billion, and gross margin of 78.4%. Management sees a strong quarter to come as well, including revenue between $7.75 billion and $8.25 billion and gross margin as high as 81%. The company is also engaging in a massive share buyback program.
It goes to show just how well Sandisk has done that even after the massive rally, Wall Street still sees 17% in possible upside. In terms of ratings, 21 Buys and five Holds suggest a very bullish perspective among analysts, making SNDK a standout even within a strong industry.
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GE Aerospace ve 2. čtvrtletí překonala odhady: očištěné tržby vzrostly o 24 % na 12,63 mld. USD a očištěný EPS o 22 % na 2,02 USD. Společnost zároveň zvýšila celoroční výhled.
Americký výrobce leteckých motorů General Electric Aerospace oznámil výsledky hospodaření za druhý kvartál roku 2026. Tyto výsledky překonaly očekávání, když společnost díky robustnímu růstu komerčních služeb a rekordním dodávkám motorů navýšila očištěné tržby o 24 % a očištěný zisk na akcii o 22 %. Na základě výkonnosti v první polovině roku společnost plošně zvýšila svůj celoroční výhled, a to již posedmé od začátku roku 2024. Podle analytika TD Cowen však navýšení výhledu vzhledem k vysokým očekáváním trhu nemusí být dostatečně dobré.
Výsledky společnosti General Electric Aerospace (GE) za 2Q 2026 2Q 2026 Konsensus 2Q 2026 2Q 2025 Očištěné tržby (mld. USD) 12,63 11,86 10,15 Čistý zisk (mld. USD) 2,80 -- 2,39 Očištěný zisk na akcii (EPS, USD/akcie) 2,02 1,86 1,66 Výsledky za 2Q Očištěné tržby meziročně vzrostly o 24 % na 12,63 mld. USD a překonaly tak tržní konsensus ve výši 11,86 mld. USD.
Tržby z komerčních motorů a služeb dosáhly 9,73 mld. USD (meziroční růst o 27 %) a předčily tak očekávání trhu ve výši 9,16 mld. USD. Tržby ze služeb rostly o 26 %, když tržby z interních servisních návštěv vzrostly o 25 % a tržby z náhradních dílů o více než 25 %. Tržby z prodeje zařízení se zvýšily o 30 % díky 26% růstu objemu dodaných jednotek, včetně 24% nárůstu u motorů LEAP. Objednávky v tomto segmentu zaznamenaly meziroční růst o 18 % na 12,93 mld. USD.
Vývoj tržeb z komerčních motorů a služeb, zdroj: GE Aerospace
Tržby z obranných a pohonných technologií společnost reportovala ve výši 3,44 mld. USD (+16 % meziročně) a překonaly tak analytický konsensus 3,20 mld. USD. Objednávky v tomto segmentu meziročně vzrostly o 12 % na 4,14 mld. USD.
Vývoj tržeb z obranných a pohonných technologií, zdroj: GE Aerospace
Očištěný provozní zisk meziročně vzrostl o 18 % na 2,75 mld. USD při očištěné provozní marži 21,7 %, která meziročně poklesla o 1,3 p. b. vlivem vyššího podílu dodávek nových instalovaných motorů (včetně GE9X), investic a inflace.
Očištěný volný hotovostní tok (FCF) dosáhl 3,03 mld. USD (+43 % meziročně) při projekcích 1,98 mld. USD.
Hodnota nově přijatých objednávek za dané období činí 16,5 mld. USD (+17 % meziročně), přičemž celkový objem nezpracovaných zakázek (backlog) přesahuje 210 mld. USD.
Celkové dodávky motorů se v první polovině roku zvýšily o 31 %, včetně 41% růstu dodávek motorů LEAP. Společnost zároveň upozornila, že očekává pokračující omezení v dodavatelském řetězci a inflační tlaky, jejichž dopady se nadále snaží zmírňovat.
Meziroční vývoj očištěného zisku na akcii, zdroj: GE Aerospace
Celoroční výhled Společnost na základě výsledků za první pololetí a výhledu na zbytek roku plošně navýšila celoroční výhled:
Růst očištěných tržeb ve vyšších desítkách procent (high-teens), oproti dřívějšímu očekávání růstu v nízkých dvouciferných procentech. Očištěný provozní zisk v rozmezí 10,55 až 10,75 mld. USD (dříve 9,85 až 10,25 mld. USD). Očištěný zisk na akcii ve výši 7,65 až 7,85 USD (dříve 7,10 až 7,40 USD) při analytickém konsensu 7,56 USD. Očištěný volný hotovostní tok (FCF) v rozmezí 8,9 až 9,2 mld. USD (dříve 8,0 až 8,4 mld. USD) při odhadech 8,37 mld. USD. Segment komerčních motorů a služeb nyní pro rok 2026 očekává růst tržeb o cca 20 % (dříve v polovině desítek procent) a provozní zisk v rozmezí 10,25 až 10,35 mld. USD (dříve 9,6 až 9,9 mld. USD). Segment obranných a pohonných technologií počítá s růstem tržeb v nízkých dvouciferných procentech a provozním ziskem 1,6 až 1,7 mld. USD (dříve 1,55 až 1,65 mld. USD).
Komentář CEO „GE Aerospace odvedla silný druhý kvartál, ve kterém tržby i zisk na akcii vzrostly o více než 20 % díky robustnímu růstu komerčních služeb. Náš systém FLIGHT DECK nadále pohání významná provozní zlepšení napříč službami i výrobou zařízení – v kvartálu jsme dosáhli rekordního objemu interních servisních návštěv a dodávky motorů v prvním pololetí vzrostly celkem o 31 %,“ uvedl předseda představenstva a generální ředitel H. Lawrence Culp, Jr.
Culp pokračoval: „Vzhledem k naší výjimečné dosavadní výkonnosti a viditelnosti pro zbytek roku plošně navyšujeme celoroční výhled. Do budoucna se soustředíme na to, co je pro naše zákazníky nejdůležitější: plnění zakázek v objemu přes 210 mld. USD a zároveň investice do současných i příští generací technologií, které prodlouží dobu motoru na křídle a sníží náklady na vlastnictví.“
Vývoj akcie Akcie General Electric Aerospace (GE) v přeburzovní fázi obchodování oslabují o 2,99 % na 349,56 USD.
Akcie GE Aerospace (GE) před výsledky na 360,35 USD Ukazatel Ukazatel Kapitalizace (mld. USD) 373,9 P/E 49,9 Vývoj za letošní rok (%) +17,0 Očekávané P/E 47,7 52týdenní minimum (USD) 254,7 Prům. cílová cena (USD) 373,9 52týdenní maximum (USD) 383,0 Dividendový výnos (%) 0,5 Zdroj: GE Aerospace, Bloomberg
Main Street odhaduje za 2. čtvrtletí 2026 čistý investiční výnos 0,95 až 0,99 USD na akcii a NAV 33,88 až 33,96 USD na akcii. Zároveň čeká anualizovanou návratnost vlastního kapitálu přes 18 %.
Announces Second Quarter 2026 Earnings Release and Conference Call Schedule
, /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street" or the "Company") is pleased to announce its preliminary operating results for the second quarter of 2026 and its second quarter 2026 earnings release and conference call schedule.
In commenting on the Company's preliminary operating results for the second quarter of 2026, Dwayne L. Hyzak, Main Street's Chief Executive Officer, stated, "We are very pleased with our performance in the second quarter, which resulted in another strong quarter of operating results, including favorable distributable net investment income before taxes and an increase to our net asset value per share for the sixteenth consecutive quarter. The increase in net asset value per share was primarily driven by significant net fair value appreciation on our lower middle market and private loan investment portfolios, including the benefit of another material realized gain in our lower middle market portfolio. Our strong second quarter results are highlighted by a favorable estimated return on equity of over 18% for the quarter. We look forward to sharing the full details of our second quarter 2026 results in a few weeks."
Preliminary Estimates of Second Quarter 2026 Results
Main Street's preliminary estimate of second quarter 2026 net investment income ("NII") is $0.95 to $0.99 per share, distributable net investment income ("DNII")(1) is $1.02 to $1.06 per share and DNII before taxes(2) is $1.06 to $1.10 per share.
Main Street's preliminary estimate of net asset value ("NAV") per share as of June 30, 2026 is $33.88 to $33.96, representing an increase of $0.42 to $0.50 per share, or 1.2% to 1.5%, from the NAV per share of $33.46 as of March 31, 2026, with this increase after the impact of the supplemental dividend paid in June 2026 of $0.30 per share. The estimated NAV per share increase is primarily due to the net fair value appreciation on the investment portfolio and the accretive impact of equity issuances, partially offset by a decrease due to the issuance of restricted stock, the total dividends per share paid in the second quarter in excess of NII per share and the net tax provision. The net fair value appreciation on the investment portfolio is primarily the result of net fair value appreciation on the lower middle market ("LMM") investment portfolio, private loan investment portfolio and other portfolio investments, partially offset by fair value depreciation of the wholly-owned external investment manager.
As a result of Main Street's preliminary estimates of NII, net fair value appreciation and the net tax provision as noted above, Main Street estimates that it generated an annualized return on equity of over 18% for the second quarter.(3)
Main Street preliminarily estimates that investments on non-accrual status comprised 1.1% of the total investment portfolio at fair value and 4.0% at cost as of June 30, 2026.
Investment Portfolio Activity
The Company's second quarter 2026 operating activities include the following investment activity in the LMM and private loan investment strategies:
$95.7 million in total LMM portfolio investments, which after aggregate repayments and return of invested equity capital resulted in a net decrease of $30.6 million in the total cost basis of the LMM investment portfolio; and $238.9 million in total private loan portfolio investments, which after aggregate repayments, return of invested equity capital and a decrease in cost basis due to a realized loss resulted in a net increase of $60.2 million in the total cost basis of the private loan investment portfolio. Second Quarter 2026 Earnings Release and Conference Call Schedule
Main Street will release its second quarter 2026 results on Thursday, August 6, 2026, after the financial markets close. In conjunction with the release, Main Street has scheduled a conference call, which will be broadcast live via phone and over the Internet, on Friday, August 7, 2026, at 10:00 a.m. Eastern time. Investors may participate either by phone or audio webcast.(4)
By Phone:
Dial 412-902-0030 at least 10 minutes before the call. A replay will be available through August 14, 2026 by dialing 201-612-7415 and using the access code 13761583#.
By Webcast:
Connect to the webcast via the Investor Relations section of Main Street's website at www.mainstcapital.com. Please log in at least 10 minutes in advance to register and download any necessary software. A replay of the conference call will be available on Main Street's website shortly after the call and will be accessible until the date of Main Street's earnings release for the next quarter.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides customized "one-stop" debt and equity financing solutions within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have annual revenues between $10 million and $150 million. Main Street's private loan portfolio companies generally have annual revenues between $25 million and $500 million.
Main Street, through its wholly-owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.
FORWARD-LOOKING STATEMENTS AND OTHER MATTERS
Main Street cautions that statements in this press release which are forward-looking and provide other than historical information, including but not limited to the preliminary estimates of second quarter 2026 financial information and results, are based on current conditions and information available to Main Street as of the date hereof. Although its management believes that the expectations reflected in those forward-looking statements are reasonable, Main Street can give no assurance that those expectations will prove to be correct. Those forward-looking statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including, without limitation, such factors described under the captions "Cautionary Statement Concerning Forward-Looking Statements" and "Risk Factors" included in Main Street's filings with the U.S. Securities and Exchange Commission (the "SEC") (www.sec.gov). Main Street undertakes no obligation to update the information contained herein to reflect subsequently occurring events or circumstances, except as required by applicable securities laws and regulations.
The preliminary estimates of second quarter 2026 financial information and results furnished above are based on Main Street management's preliminary determinations and current expectations, and such information is inherently uncertain. The preliminary estimates provided herein have been prepared by, and are the responsibility of, management and are subject to completion of Main Street's customary quarter-end closing and review procedures and third-party review, including the determination of the fair value of Main Street's portfolio investments. As a result, actual results could differ materially from the current preliminary estimates based on adjustments made during Main Street's quarter-end closing and review procedures and third-party review, and Main Street's reported information in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 may differ from this information, and any such differences may be material. In addition, the information furnished above does not include all of the information regarding Main Street's financial condition and results of operations for the quarter ended June 30, 2026 that may be important to readers. As a result, readers are cautioned not to place undue reliance on the information furnished in this press release and should view this information in the context of Main Street's full second quarter 2026 results when such results are disclosed by Main Street in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. The information furnished in this press release is based on Main Street management's current expectations that involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, such information.
Main Street has an existing effective Registration Statement on Form N-2 on file with the SEC relating to the offer and sale from time to time of its securities. Investors are advised to carefully consider the investment objective, risks and charges and expenses of Main Street before investing in any of Main Street's securities. The prospectus included in the Registration Statement on Form N-2, together with any related prospectus supplement, contain this and other information about Main Street and should be read carefully before investing. A copy of the prospectus and any related prospectus supplement may be obtained by contacting Main Street.
Endnotes
(1) DNII is NII as determined in accordance with U.S. Generally Accepted Accounting Principles, or U.S. GAAP, excluding the impact of non-cash compensation expenses, which includes both share-based compensation expenses and deferred compensation expense or benefit. Main Street believes presenting DNII per share is useful and appropriate supplemental disclosure for analyzing its financial performance since (i) share-based compensation does not require settlement in cash and (ii) deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement. However, DNII is a non-U.S. GAAP measure and should not be considered as a replacement for NII or other earnings measures presented in accordance with U.S. GAAP. Instead, DNII should be reviewed only in connection with such U.S. GAAP measures in analyzing Main Street's financial performance. In order to reconcile estimated DNII per share to estimated NII per share in accordance with U.S. GAAP for the second quarter of 2026, an estimated $0.07 to $0.08 per share of non-cash compensation expenses are added back to estimated NII per share to calculate estimated DNII per share.
(2) DNII before taxes is NII as determined in accordance with U.S. GAAP, excluding the impact of non-cash compensation expenses, which includes both share-based compensation expenses and deferred compensation expense or benefit, and any tax expenses included in NII. Main Street believes presenting DNII before taxes per share is useful and appropriate supplemental disclosure for analyzing its financial performance since (i) share-based compensation does not require settlement in cash, (ii) deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement and (iii) tax expenses included in NII may include (a) excise tax expense, which is not solely attributable to NII, and (b) deferred taxes, which are not payable in the current period. However, DNII before taxes is a non-U.S. GAAP measure and should not be considered as a replacement for NII, NII before taxes or other earnings measures presented in accordance with U.S. GAAP. Instead, DNII before taxes should be reviewed only in connection with such U.S. GAAP measures in analyzing Main Street's financial performance. In order to reconcile estimated DNII before taxes per share to estimated NII per share in accordance with U.S. GAAP for the second quarter of 2026, an estimated $0.07 to $0.08 per share of non-cash compensation expenses and an estimated $0.04 per share of NII related tax expenses are added back to estimated NII per share to calculate estimated DNII before taxes per share.
(3) Return on equity equals the net increase in net assets resulting from operations divided by the average quarterly total net assets.
(4) No information contained on the Company's website or disclosed on the August 7, 2026 conference call, including the webcast and the archived versions, is incorporated by reference in this press release or any of the Company's filings with the SEC, and you should not consider that information to be part of this press release or any other such filing.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, [email protected]
Ryan R. Nelson, CFO, [email protected]
713-350-6000
BOK Financial Corporation (NASDAQ:BOKF) will release its second quarter earnings report after the closing bell on Monday, July 20.
Analysts expect the Tulsa, Oklahoma-based company to report quarterly earnings of $2.47 per share, up from $2.19 per share in the year-ago period. The consensus estimate for BOK Financial’s quarterly revenue is $567.39 million. It reported $537.84 million last year, according to Benzinga Pro.
On April 20, BOK Financial posted better-than-expected first-quarter earnings.
Shares of BOK Financial rose 0.6% to close at $139.33 on Wednesday.
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IDF a Oaktree oznámily projektovou investici ve výši 1,7 miliardy USD do palivových článků Bloom Energy pro výstavbu AI cloudové infrastruktury Nebius. Projekt má zajistit vyhrazené napájení přímo u zdroje.
, /PRNewswire/ -- Industrial Development Funding ("IDF") and Oaktree today announced $1.7 billion in project investment as part of a broader commitment to support the deployment of Bloom Energy's (NYSE: BE) fuel cell technology for the build-out of AI cloud infrastructure. Once complete, the project will provide dedicated behind-the-meter power, helping Nebius meet demand for the compute capacity underpinning its AI cloud platform. Nebius selected Bloom for its speed to power, clean technology, and ability to support the performance and availability demands of AI workloads.
IDF is the lead developer of the Nebius project, with minority equity participation from Oaktree. Morgan Stanley served as sole tax equity investor and placement agent for the tax equity financing, and MUFG Bank provided the senior debt financing.
"By bringing together institutional capital and critical power infrastructure, IDF and Bloom are unlocking the next generation of energy solutions and are proud to help Nebius meet the energy demands of the AI economy," said Nik Nunes, Chief Executive Officer of IDF.
Austin Pearson, Oaktree Managing Director, said, "Oaktree is focused on investing in infrastructure assets delivering critical power to the digital space. This transaction reflects our confidence in Bloom's fuel cell technology and those relying on it."
"AI infrastructure customers need more than innovative technology," said Aman Joshi, Chief Commercial Officer of Bloom Energy. "They also need a path to finance and deploy power rapidly. Our collaboration with IDF demonstrates how institutional capital can help accelerate the build-out of AI infrastructure."
"Morgan Stanley is proud to partner with IDF, Bloom Energy and Nebius on this landmark behind-the-meter transaction delivering rapid power solutions to critical AI infrastructure," said Jorge Iragorri, Co-Head of Infrastructure Capital Markets at Morgan Stanley.
"MUFG is pleased to support Nebius, IDF, and Bloom on this landmark transaction, which provides an innovative and efficient solution for data center power demand while meeting the needs of the local community," said Fred Zelaya, Managing Director – Project Finance.
Today's announcement reflects IDF's broader strategy to invest in clean energy, digital infrastructure, transportation, and industrial sectors through bespoke capital solutions. It expands collaboration between IDF and Bloom Energy that has enabled multiple transactions and a diversified portfolio of over $2.6 billion in Bloom Energy projects.
About Industrial Development Funding
Industrial Development Funding, LLC ("IDF") is an investment advisor registered with SEC that manages capital for Qualified Institutional Buyers. IDF's proprietary funding solutions enable large industrial companies to sell existing products or introduce new products to the marketplace. IDF provides bespoke capital solutions to companies across the digital infrastructure, power and transportation sectors. Website: www.indevfunding.com.
About Oaktree Capital Management
Oaktree is a leader among global investment managers specializing in alternative investments, with $224 billion in assets under management as of March 31, 2026. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,500 employees and offices in 26 cities worldwide. For additional information, please visit Oaktree's website at http://www.oaktreecapital.com/.
Media contacts
Industrial Development Funding
Doug Rivenburgh ([email protected])
Oaktree Capital Management
Rachel Wood ([email protected])
TransUnion rozšířil hypoteční úvěrový report o TruVision™ Alternative Credit Attributes (ACA 2.0) z FactorTrust® Alternative Lending Database, které dávají věřitelům dřívější pohled na stabilitu a záměr žadatelů. Nová data jsou dostupná bez dodatečných nákladů.
CHICAGO, July 16, 2026 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) today announced an enhancement to its mortgage credit report, with the addition of TruVision™ Alternative Credit Attributes (ACA 2.0) from its FactorTrust® Alternative Lending Database to expand lenders’ visibility beyond traditional credit data.
The new alternative credit attributes give lenders earlier insight into borrower stability and intent, enabling them to prioritize high-potential applicants earlier in the funnel, streamline workflows and focus resources on loans more likely to convert. Applied as early as the prequalification stage, the data helps reduce risk sooner in the decisioning process. It also supports more consistent underwriting and enables competitive pricing for qualified borrowers.
By layering alternative financial signals alongside traditional credit data, the new ACA 2.0 attributes deepen mortgage risk assessments and provide greater visibility into the consumer’s full wallet. Moreover, these enhanced insights are delivered at no additional cost, enabling lenders to improve decision quality without increasing underwriting expense.
“This enhancement reflects our continued focus on giving mortgage lenders a more complete and actionable view of borrower behavior,” said Satyan Merchant, senior vice president and mortgage and automotive business leader at TransUnion. “By bringing richer credit insight earlier into the process, lenders can make more confident decisions, reduce unnecessary risk and concentrate their efforts on applicants most likely to convert—ultimately enabling more efficient access to credit for qualified consumers.”
Continuing a History of Mortgage Lending Innovation
This latest enhancement to the mortgage credit report builds on TransUnion’s legacy of innovation that helps lenders better assess consumer creditworthiness. These include:
Trended Credit Data: In 2013, TransUnion introduced first-to-market trended credit data, shifting underwriting away from a single point-in-time snapshot toward a more dynamic view of borrower behavior. This helps reshape risk assessment, segmentation and approaches to fairer pricing.TruVision Early Access Soft Check: This solution delivers comprehensive credit insights without a hard inquiry, enabling smarter prequalification decisions. It brings rich TransUnion data earlier into the mortgage process, improving operational efficiency and transparency for both lenders and borrowers. “TransUnion continues to expand credit insight through our risk solutions,” said Mohamed Abdelsadek, Chief Global Solutions Officer, TransUnion. “Combined with TruVision™ Alternative Credit Attributes, these innovations give lenders greater confidence and a more complete, dynamic view of consumer financial behavior.”
To learn more about TransUnion Mortgage Industry Solutions that help lenders make smarter, more confident marketing, customer acquisition and lending decisions, click here.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.
Taylor Morrison Communities spustila souhlasové výzvy k úpravě podmínek dluhopisů v souvislosti s dříve oznámenou akvizicí TMHC společností Berkshire Hathaway. Oprávněným držitelům nabídne 1 USD za každých 1 000 USD jmenovité hodnoty.
, /PRNewswire/ -- Taylor Morrison Home Corporation (NYSE: TMHC) ("TMHC") today announced that its indirect wholly owned subsidiary, Taylor Morrison Communities, Inc. (the "Issuer"), has commenced consent solicitations to amend the indentures (the "Indentures" and, each an "Indenture") governing (i) its 5.75% Senior Notes due 2028 (CUSIP Nos. 87724RAB8 (Rule 144A) / U8760NAB5 (Reg S)) (the "2028 Notes"), (ii) its 5.125% Senior Notes due 2030 (CUSIP Nos. 87724RAJ1 (Rule 144A) / U8760NAF6 (Reg S)) (the "2030 Notes") and (iii) its 5.750% Senior Notes due 2032 (CUSIP Nos. 87724RAK8 (Rule 144A) / U8760NAG4 (Reg S)) (the "2032 Notes" and, together with the 2028 Notes and the 2030 Notes, the "Notes"), upon the terms and subject to the conditions set forth in the Consent Solicitation Statement dated July 16, 2026 (the "Consent Solicitation Statement"). The Issuer is soliciting consents from holders of record as of 5:00 p.m., New York City time, on July 15, 2026, to amend (the "Amendments") certain provisions of the Indentures in connection with the previously announced acquisition of TMHC by Berkshire Hathaway Inc. ("Berkshire Hathaway") (the "Merger"). Berkshire Hathaway has advised TMHC and the Issuer that following consummation of the proposed Merger, Berkshire Hathaway intends to unconditionally guarantee each series of the Notes; however, Berkshire Hathaway has no obligation to guarantee the Notes and there can be no assurance that Berkshire Hathaway will provide such guarantee.
Subject to the terms and conditions set forth in the Consent Solicitation Statement, the Issuer will pay eligible holders whose consents were delivered (and not validly revoked) on or prior to 5:00 p.m., New York City time, on July 22, 2026 (the "Expiration Date"), a cash payment of $1.00 for each $1,000 principal amount of Notes in respect of which such consent relates (as applicable, the "Consent Fee"). The Consent Fee with respect to each consent solicitation will only be payable if all conditions to the applicable consent solicitation, including the receipt of the Requisite Consents (as defined below) with respect to the applicable series of Notes, have been satisfied or, if applicable, waived.
Each consent solicitation is subject to customary conditions, including, among other things, the delivery by holders of consents (which consents have not been validly revoked) in respect of a majority in aggregate principal amount of the outstanding Notes of each series (the "Requisite Consents") on or prior to the Expiration Date. Delivered consents may be validly revoked until the time at which the applicable supplemental indenture effecting the Amendments has been executed and delivered. The Issuer anticipates that, promptly after receipt of the Requisite Consents with respect to a series of Notes and the other conditions applicable to each consent solicitation are satisfied or waived, the Issuer will give notice to the applicable trustee, and the Issuer and the applicable trustee will execute and deliver a supplemental indenture with respect to each Indenture to effect the Amendments. Pursuant to the terms of such supplemental indenture, the Amendments will not become operative until (i) the Consent Fee, with respect to the applicable consent solicitation, is paid in full and (ii) the consummation of the Merger.
Each consent solicitation is being made solely on the terms and subject to the conditions set forth in the Consent Solicitation Statement. The Issuer may, in its sole discretion, subject to applicable law, extend, amend or terminate any or all of the consent solicitations.
The Issuer has retained J.P. Morgan Securities LLC ("J.P. Morgan") to act as sole solicitation agent in connection with the consent solicitations. Questions may be directed to J.P. Morgan at (866) 834-4666 (toll-free) or (212) 834-3424 (collect). The Issuer has retained D.F. King & Co., Inc. to act as the information and tabulation agent in connection with the consent solicitations. Questions and requests for additional documents may be directed to D.F. King & Co, Inc. at (212) 269-5550 (banks and brokers), (888) 887-1266 (all others) or [email protected].
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security. This press release does not constitute a solicitation of consents with respect to the Amendments or any securities. The solicitation of consents is not being made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such solicitation under applicable state or foreign securities or "blue sky" laws.
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation's leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands—including Taylor Morrison, Esplanade and Yardly. From 2016-2025, Taylor Morrison has been recognized as America's Most Trusted® Builder by Lifestory Research.
Forward-Looking Statements
This press release includes "forward-looking statements" including, but not limited to, statements regarding TMHC's expectations, plans, intentions, strategies or prospects with respect to the proposed Merger. These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "may," "will," "can," "could," "might," "should" and similar expressions identify forward-looking statements, including statements related to expected financial, operating and performance results, planned transactions, planned objectives of management, future developments or conditions in the industries in which we participate and other trends, developments and uncertainties that may affect TMHC's business in the future. A detailed discussion of such risks and uncertainties is included in TMHC's Form 10-K, on file with the Securities and Exchange Commission, in the section titled "Risk Factors," as updated in our subsequent reports filed with the Securities and Exchange Commission. Any forward-looking statement made in this press release is based only on currently available information and speaks only as of the date on which it is made. TMHC undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
Baker Hughes dokončila akvizici Chart Industries, která se stane třetím reportovacím segmentem. Společnost očekává do tří let roční nákladové synergie ve výši 325 milionů USD.
Represents a major milestone in Baker Hughes’ ongoing portfolio management strategy to become a higher-value, leading industrialized energy solutions companyExpect $325 million in annualized cost synergies by year three after close; commercial synergy opportunities represent additional upsideChart Industries will be a third operating segment, reflecting the scale and strategic importance of its differentiated capabilities
HOUSTON and LONDON, July 16, 2026 (GLOBE NEWSWIRE) -- Baker Hughes Company (NASDAQ: BKR) (“Baker Hughes” or “the Company”) today announced the successful completion of its acquisition of Chart Industries, Inc. (NYSE: GTLS) (“Chart”). This strategic transaction is a major milestone in Baker Hughes’ transformation into a higher-value, leading industrialized energy solutions company. The acquisition is expected to enhance Baker Hughes’ ability to deliver durable earnings and cash flow, driven by an expanded industrial portfolio and enhanced recurring aftermarket services.
“Chart’s thermal management solutions bring complementary capabilities and aftermarket service offerings that accelerate our portfolio strategy,” said Baker Hughes Chairman and Chief Executive Officer Lorenzo Simonelli. “Together, we will expand the solutions we deliver across a broader range of energy and industrial markets and create greater value for customers and shareholders. We welcome our new colleagues to Baker Hughes and look forward to working with them to deliver disciplined execution and maximize synergies as we move forward.”
Baker Hughes Chief Infrastructure & Performance Officer Jim Apostolides has been appointed senior vice president to lead the Chart segment. Since July 2025, Apostolides has led a seamless and effective integration program to support strategic growth and operational synergy readiness. Apostolides has more than 25 years of operational and multi-industry leadership, previously serving as senior vice president of Enterprise Operational Excellence for Baker Hughes since 2020.
“Congratulations to Jim on his well-deserved appointment as segment leader,” Simonelli added. “Jim’s business rigor, demonstrated through decades of global supply chain experience and operational leadership of large complex facilities around the world, makes him well-suited to lead implementation of the Baker Hughes Business System within Chart. We look forward to his leadership and continued success, quickly delivering value for our customers and shareholders as one company.”
Chart will operate as a new reporting segment within Baker Hughes, reflecting the scale and strategic importance of its differentiated capabilities in air and gas handling, thermal management, and lifecycle services. The segment structure is intended to preserve Chart’s commercial and operational focus while enabling full integration and synergy capture across Baker Hughes. Chart reported $4.3 billion in revenue for fiscal year 2025 and currently serves customers in more than 50 countries, spanning sectors including gas infrastructure, nuclear, data centers, carbon capture and storage, space, geothermal and other high-growth industrial markets.
Baker Hughes has launched a comprehensive integration program, leveraging its Business System to support operational alignment. The focus is on harmonizing product and technology platforms, engineering and commercial practices, and lifecycle and digital services. Early synergy capture in supply chain, functional support, and manufacturing is a priority, with a target of $325 million in annualized cost synergies within three years.
The acquisition of Chart marks a significant step in Baker Hughes’ portfolio optimization and growth strategy. By streamlining non-core businesses and expanding into industrial and lifecycle-driven markets, Baker Hughes is committed to sustainable, long-term growth, improved capital efficiency, and enhanced value for shareholders.
The Baker Hughes Board will continue its comprehensive evaluation, guided by progress in integration and operational execution. Baker Hughes remains committed to disciplined capital allocation, targeting a net leverage range of 1.0-1.5x within 24 months.
This news release (and oral statements made regarding the subjects of this release) may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (each a “forward-looking statement”). All statements, other than historical facts, including statements regarding the presentation of Baker Hughes’ operations in future reports and any assumptions underlying any of the foregoing, are forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “would,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue,” “target,” “goal,” or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Factors that could cause actual results to differ include, but are not limited to: Baker Hughes’ indebtedness, including the indebtedness Baker Hughes has incurred in connection with the transaction with Chart and the need to generate sufficient cash flows to service and repay such debt; Baker Hughes’ ability to meet expectations regarding the accounting and tax treatments of the transaction with Chart; the possibility that Baker Hughes may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate Chart’s operations with those of Baker Hughes; that such integration may be more difficult, time-consuming, or costly than expected; that operating costs, customer loss, and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, or suppliers) may be greater than expected following the transaction; the retention of certain key employees of Chart may be difficult; that Baker Hughes and Chart are subject to intense competition and increased competition is expected in the future; and general economic conditions that are less favorable than expected. Other important factors that could cause actual results to differ materially from such plans, estimates, or expectations include, among others, the risk factors identified in the “Risk Factors” section of Part I of Item 1A of Baker Hughes’ Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 5, 2026, and those set forth from time-to-time in other filings by Baker Hughes with the SEC. These documents are available through Baker Hughes’ website or through the SEC’s Electronic Data Gathering and Analysis Retrieval (EDGAR) system at http://www.sec.gov.
Any forward-looking statements speak only as of the date of this news release. Baker Hughes does not undertake any obligation to update any forward-looking statements, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
