Personalis holders receive Tempus shares worth $16.25 each under the pending merger Summary
Piper cited the Personalis MRD platform, a positive INTerpath-001 readout, and FDA approval of the tumor-only xT CDx test.
Tempus AI TEM rose 2.46% premarket after Piper Sandler upgraded the stock to Overweight from Neutral and raised its price target to $76 from $56. The firm had held a Neutral rating on the view that the valuation was tracking AI sentiment rather than the diagnostics and data businesses underneath it.
Piper pointed to three drivers: the tumor-informed minimal residual disease platform Tempus picks up through the pending Personalis acquisition, a positive readout from the INTerpath-001 study, and FDA approval of the tumor-only xT CDx test, which the firm said clears a hurdle toward unified ADLT pricing. Piper said the xF product could follow in the second half of 2027.
The S-4 filed August 31 lays out the terms. The deal values each Personalis share at $16.25, paid in Tempus Class A stock at a ratio set against the Tempus share price, with Tempus able to elect cash for up to half the shares. Canaccord Genuity reiterated Buy at $80 after the filing.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Solana AMM Aquifer přišel při exploitu zhruba o 2,5 milionu USD a nabízí útočníkovi 20% bounty za vrácení většiny prostředků. Podle projektu šlo o kompromitované peněženky na Solaně i Ethereu.
Solana-based automated market maker Aquifer has lost roughly $2.5 million in an exploit involving wallets on Solana and Ethereum, with the protocol offering the attacker a 20% bounty for returning most of the funds.
Summary
Solana based AMM Aquifer lost roughly $2.5 million in an exploit involving attacker addresses on Solana and Ethereum. Aquifer offered the attacker a 20% whitehat bounty if at least 80% of the assets are returned by Sept. 3. The exact point of compromise remains unclear, with no technical post mortem yet establishing how access to the affected wallets was obtained. Available information has not established that Aquifer’s smart contracts were exploited, leaving compromised wallet access as the main focus of the incident so far. Blockchain security monitoring service Defimon reported the attack on Aug. 31, identifying separate Solana and Ethereum addresses controlled by the suspected exploiter. Aquifer later sent an on-chain whitehat offer seeking the return of at least 80% of the assets linked to the incident.
The offer gives the attacker until Sept. 3 at 14:00 UTC to transfer the assets, or their equivalent value, to recovery addresses provided by Aquifer. The person controlling the wallets may retain up to 20% of the funds as a whitehat bounty if the conditions are met.
Aquifer said it would not pursue civil claims arising from the exploit if the attacker complies with the terms, subject to applicable law. The agreement would not bind law enforcement agencies, regulators, sanctions authorities or other government bodies.
Aquifer exploit involves wallets on two chains Aquifer operates as a proprietary automated market maker on Solana, where its liquidity is used to facilitate token swaps. DefiLlama describes the protocol as a prop AMM and currently lists its total value locked at around $2.8 million.
The addresses identified after the exploit show activity spanning Solana and Ethereum. Defimon linked the Solana address 7fTe9pvrwXJRBHq9MaSyVPR4PgEuhqLiA93Dxf4gRk7J and Ethereum address 0x2Dfe9e969796e2797278b02761dd9Ad6aE922746 to the attacker.
Aquifer’s whitehat message was authorized through the protocol’s Solana upgrade authority and published on-chain. The project supplied separate recovery addresses for Solana and Ethereum, allowing assets associated with the attack to be returned on either network.
Public information has not yet established exactly how the wallets were compromised. No technical post-mortem has been released explaining whether private keys, administrator credentials or another part of Aquifer’s operational infrastructure was exposed.
Available information similarly does not establish that Aquifer’s smart contract code was exploited. The use of addresses across Ethereum and Solana provides a trail for investigators tracking the assets, but does not by itself identify how access to the affected funds was obtained.
The incident follows several Solana-related attacks this year where the point of compromise was outside the underlying blockchain.
Solana protocols have faced different attack methods In June, crypto.news previously reported that five legacy liquidity pools belonging to Raydium lost roughly $1.3 million after an attacker targeted retired AMM infrastructure.
On-chain investigator Specter said the Raydium attacker used a fake mint address to bypass validation checks in an older AMM program. The stolen assets included roughly 150,177 RAY, 5,603 SOL and 893,700 USDC.
Raydium said its active pools and current users were unaffected because the vulnerable infrastructure had already been phased out. The protocol committed to reimbursing the affected assets from its treasury.
A separate July incident involving Across Protocol produced losses of less than $4 million after an attacker fabricated Solana deposit events. The attacker created 1,627 fake deposits with a combined stated value of $41.7 million and requested payouts across 18 destination chains.
Risk Labs’ relayer processed 581 of the fraudulent requests before Solana operations were suspended, advancing approximately $4.5 million of its own capital. Around $500,000 belonging to the attacker remained trapped, bringing the net loss below $4 million.
Across later said the Solana attack stemmed from a flaw in Risk Labs’ off-chain event-reading software and not a vulnerability in its smart contracts or the Solana network. Legitimate user transfers were completed or refunded.
Operational security failures have produced losses elsewhere without attackers needing to exploit smart contract logic.
Wallet access has become a major attack route Stablecoin payments company Triple-A confirmed in July that unauthorized access to its treasury wallets resulted in the theft of company-owned digital assets. On-chain researchers initially tracked suspicious withdrawals across Ethereum, Solana, TRON and TON, with some reports identifying activity on Polygon and Arbitrum.
Triple-A later said client funds remained unaffected because customer assets were segregated from the compromised treasury infrastructure. Researchers had estimated the loss at roughly $11.8 million before the company confirmed the breach.
The company did not disclose whether the attacker obtained private keys, credentials or another form of access. Triple-A said cybersecurity specialists and Singapore police were working on the investigation and asset tracing.
Private key and wallet compromises have accounted for a substantial portion of crypto thefts in 2026. CertiK reported in July that digital asset losses reached $1.32 billion during the first half of the year, down 46.8% from the same period in 2025.
Despite the lower total, the security firm said wallet compromises became the largest attack method during the second quarter, replacing phishing as the main source of losses.
Another Solana project, Step Finance, ultimately shut down its operations after an attack earlier this year targeted devices used by members of its executive team. Attackers gained access to treasury and fee wallets and moved approximately 261,854 SOL, while later estimates placed total losses across affected assets near $40 million.
Investigators determined that Step Finance’s smart contracts were not the point of entry. Compromised endpoints allowed the attackers to access wallets used by the project, and the financial damage later contributed to the decision to wind down the platform.
A similar distinction will depend on Aquifer publishing more details about its own breach. The protocol has not released a post-mortem identifying the initial point of access, the specific credentials involved or whether one compromised account provided control over multiple wallets.
For now, Aquifer’s recovery process centers on its whitehat proposal. The attacker has been offered the right to retain up to 20% of the assets associated with the exploit if at least 80% is returned to the designated recovery addresses by Sept. 3 at 14:00 UTC.
GMTrade spustil na Solaně 24/7 perpetual futures na komodity včetně zlata (XUG), stříbra (XAG) a ropy WTI. Ceny pohání Chainlink Data Streams v reálném čase.
Traditional commodity markets close. Gold doesn’t care. Neither does oil. Yet for decades, traders have been locked out of positions during evenings, weekends, and holidays while prices kept moving without them.
GMTrade, the Solana-native perpetuals exchange that has quietly become one of the chain’s largest trading venues, just removed that constraint entirely. The platform launched 24/7 perpetual futures trading for commodities including gold (XUG), silver (XAG), and WTI crude oil, powered by Chainlink Data Streams for real-time pricing.
From GMX fork to Solana heavyweight GMTrade’s backstory matters for understanding why this launch is significant. The platform started life as a GMX DAO-authorized deployment on Solana back in March 2025, rebranding to GMTrade in November 2025 while maintaining the underlying GMX V2 mechanics tailored for Solana’s efficient parallel execution.
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Since then, the growth trajectory has been steep. GMTrade has facilitated over $142B in total trading volume. At its peak in May 2026, the platform recorded $51.73B in 30-day trading volume, representing approximately 74% of all perpetual DEX volume on Solana during the same period.
The platform currently supports more than 60 markets with leverage options stretching up to 500x.
Why Chainlink Data Streams matter here Running perpetual futures for crypto assets is one thing. The prices originate on-chain, the reference data is abundant, and latency tolerance is relatively forgiving. Commodities are a different beast.
Gold, silver, and oil prices are determined across dozens of global exchanges, OTC desks, and physical markets that operate on different schedules and in different time zones. To offer 24/7 trading on these assets, you need a pricing oracle that can deliver high-integrity, low-latency data even when the underlying spot markets are closed or thinly traded.
That’s where Chainlink Data Streams come in. Rather than relying on periodic price updates pushed on-chain, Data Streams provide pull-based oracle infrastructure. The exchange requests fresh price data exactly when it’s needed, at the moment a trade executes. This reduces the window for stale pricing and front-running, two problems that have historically plagued on-chain derivatives platforms.
The bigger picture: real-world assets meet DeFi leverage These aren’t tokenized commodities in the traditional sense. These are synthetic perpetual contracts, financial instruments that track the price of an underlying asset without requiring ownership of it.
GMTrade operates without a dedicated governance or utility token. Instead, the platform uses a GT points system to reward active traders.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Solana just had its busiest month ever. The network processed 5.2 billion non-vote transactions in August, a figure that would have seemed wildly optimistic at the start of the year and now just looks like Tuesday.
Non-vote transactions are the ones that actually matter for measuring real usage. Validator votes, which keep the network in consensus, get stripped out of this count. What remains is a direct read on how many users, apps, and protocols are actively doing things on the chain.
What drove the numbers The catalyst was the SIMD-0286 upgrade, activated on July 29. It raised the maximum compute limit per block from 60 million to 100 million compute units, a 66% increase, without adding any time to block production.
The practical effect showed up immediately. Daily non-vote transactions peaked at 171.9 million on August 10, pushing throughput close to 2,000 transactions per second. The week of August 17-23 alone accounted for 1.318 billion non-vote transactions, the fourth consecutive week above the 1 billion mark.
For context, July finished with 4.2 billion non-vote transactions, itself up 91% from December 2025.
The network also activated 300-millisecond slot times in epoch 1024 on August 28, compressing the time between blocks and opening the door to even higher throughput ceilings.
DeFi activity contributed meaningfully, with daily volume frequently running between $4 billion and $8 billion. Memecoins and tokenized real-world assets added further transaction density.
Institutions are paying attention US spot Solana ETFs pulled in $1.34 billion in August alone.
SOL’s price climbed 46% during the month, its first positive monthly return in ten months.
Fee revenue also moved. The seven-day average reached approximately 9,200 SOL by late August, an 80% increase over three months.
On the governance side, the SGP-0002 proposal passed on August 28 with over 67% support. The measure reduces the SOL supply by 18.9 million tokens over six years by redirecting a portion of inflation.
What this means for Solana’s competitive position Solana has spent the better part of two years working to outlive the narrative that it is unreliable. Outages in 2021 and 2022 gave critics a durable talking point, and the FTX collapse in late 2022 added association risk that had nothing to do with the protocol itself.
The SIMD-0286 upgrade and the slot time compression suggest the network is now competing on architectural sophistication, not just speed and price. Higher compute limits per block allow more complex transactions, which is the territory where serious DeFi protocols and institutional applications live.
The risks are real and worth naming. Transaction volume driven partly by speculative assets is not the same as transaction volume driven by settled, productive economic activity. If memecoin trading volumes contract, the raw numbers will follow. And any network outage, however brief, would hand critics exactly the narrative they have been waiting to revive.
Fee revenue growth and sustained ETF inflows will be the metrics to watch in September. If non-vote transactions hold above 4 billion for a third consecutive month and fees continue trending upward, the August record starts to look less like a spike and more like a new baseline.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Securitizeův tokenizovaný high-yield fond HINC je nyní na Loopscale na Solaně použitelný jako zástava pro půjčky v USDG. Jde o první takový kreditní fond na tomto onchain lending trhu.
Eligible investors can now borrow USDG against a fund holding high-yield corporate bonds and CLO tranches, collateral whose value moves daily with credit spreads.
Securitize's tokenized high-yield credit fund is live as collateral on Loopscale, letting eligible investors borrow the USDG stablecoin against their shares without redeeming the position.
That puts sub-investment-grade corporate credit into an onchain lending market whose collateral has been almost entirely Treasuries, government money-market funds and investment-grade paper. The fund's net asset value moves with credit spreads and rating migrations, which means Loopscale is underwriting a mark that can fall — on an asset only allowlisted wallets are permitted to hold.
The Neuberger Securitize High Income Tokenized Fund, ticker HINC, launched Aug. 18 on Avalanche, Ethereum, Solana and Sui. It holds mostly high-yield corporate bonds, with the balance in CLO tranches, bank loans and other high-yielding fixed income; the CLO sleeve can run anywhere from zero to 30% of the portfolio. Neuberger Berman Investment Advisers is sub-adviser, and the firm managed $613 billion as of June 30. Minimum subscription is $100,000, the total expense ratio is 0.60% a year, and shares go only to accredited investors and qualified purchasers who clear Securitize's onboarding.
"Treasuries were a natural starting point for bringing traditional assets into DeFi, but they shouldn't be the endpoint," said Carlos Domingo, co-founder and CEO of Securitize. "HINC expands the opportunity into institutional credit."
Third Asset on LoopscaleHINC is the third Securitize product to reach the protocol. Apollo's tokenized credit fund ACRED has been usable as collateral there since late 2025, with USDG subscriptions added in January, and Securitize's own NYSE-listed stock SECZ went live as collateral on Aug. 20.
Loopscale holds $91.3 million in total value locked and $55.9 million in active loans, up 7.1% over 30 days and ranked 27th among lending protocols by DefiLlama. On Solana it sits an order of magnitude behind Kamino Lend at $1.25 billion and Jupiter Lend at $1.07 billion. It was exploited for $5.8 million in April 2025, two weeks after its own launch, and got the funds back after agreeing a bounty with the attacker.
Its markets are fixed-rate and fixed-term, with the borrower setting collateral, rate, loan-to-value and duration. Liquidations are partial: the protocol sells enough of a position to bring the loan back to health and leaves the rest.
"HINC adds a fundamentally different type of collateral to Solana credit markets," said Mary Gooneratne, co-founder of Loopscale. "Supporting an actively managed high-yield strategy demonstrates how onchain lending can extend beyond crypto-native assets and short-duration instruments."
Daily NAV, One SourceRedStone prices HINC on Solana, Ethereum and Avalanche using its Trusted Single Source Oracle standard, which takes the administrator's daily NAV and publishes it onchain in signed, timestamped, chained form so a protocol can verify the figure came from the administrator unaltered. Loopscale uses that feed to value the collateral and trigger clearing events.
"Bringing more complex financial assets into onchain lending markets requires dependable valuation infrastructure," said Marcin Kaźmierczak, co-founder and COO of RedStone.
The design question a NAV-priced credit fund poses is the opposite of the one crypto collateral poses. There is no intraday gap risk, because NAV is struck once each business day. What the market needs instead is a guarantee that a position can be unwound within a bounded number of business days at or near the published mark.
USDG's Solana FloatThe borrowable side is USDG, issued by Paxos Digital Singapore under Monetary Authority of Singapore regulation and distributed through the Global Dollar Network. Supply stands at $3.26 billion, of which $610.7 million sits on Solana, down 6.1% over the past month. Securitize, a member of the network, has enabled on- and off-ramping between HINC and USDG.
"Stablecoins provide an important liquidity layer for tokenized real world assets," said Peter Jonas, chief revenue officer at Paxos.
Treasuries Sit IdleSecuritize's argument that tokenized assets are barely used as DeFi collateral holds up, with a wrinkle. Tokenized real-world assets excluding stablecoins carry about $34.1 billion in onchain market value across 217 issuers, and $3.8 billion of that is active in DeFi, according to DefiLlama, or roughly 11%.
The idle share sits overwhelmingly in the Treasury products. BlackRock's BUIDL, the largest tokenized money-market fund at $2.79 billion, has $17.7 million deployed in DeFi, a utilization rate of 0.63%. Franklin Templeton's BENJI and iBENJI show zero. Credit is where the collateral demand already is: Centrifuge's Janus Henderson Anemoy AAA CLO Fund, the tokenized CLO strategy Resolv looped on Aave Horizon in February, runs at 97.8% utilization, Maple's syrupUSDT at 88.3% and Hastra's PRIME at 62.7%.
The March 2020 NumberSecuritize published HINC's risk figures itself, in a governance filing submitted to Aave on Aug. 18. Using an illustrative index blend of 70% ICE BofA US High Yield Constrained and 30% J.P. Morgan CLOIE Post-BB run from July 2016 to July 2026, the strategy returned 7.21% annualized, lost 18.25% in its worst month of March 2020, and fell 8.97% in calendar 2022 with a 13.20% drawdown inside that year. An instantaneous 200 basis-point widening in spreads takes roughly 7% to 9% off NAV; 400 basis points takes 14% to 18%.
The strategy is short interest-rate duration but carries three-and-a-half to four-and-a-half years of spread duration. "This is not a low-volatility asset," Securitize wrote, and the March 2020 figure "should be treated as the governing stress case."
The fund has no operating history. Investors face a 24-hour lock-up and daily redemption requests against a portfolio that can take days to sell, and Securitize said plainly that "the 24-hour lock-up does not reflect practical liquidity." The CLO sleeve carries structural leverage of roughly six to eight times at the BB level.
Still Pending at AaveThat filing asked Aave Horizon to accept HINC on Ethereum as supply-only collateral, with USDC, GHO and RLUSD borrowable against it. Two weeks on, it had not reached a Snapshot vote or drawn a published risk assessment. It still needs a technical assessment, a LlamaRisk review, evidence that liquidators have been onboarded, a vote and a final Aave Improvement Proposal.
A forum comment posted Aug. 30 questioned whether the proposed liquidation backstop of 3% to 5% of borrowed TVL covers a four-business-day stress window, flagged inconsistent naming of the oracle provider, and pressed on who compensates stablecoin suppliers when a legally frozen position cannot be liquidated but keeps accruing debt.
On the oracle point, Securitize's Aave filing names a Chainlink NAV feed wrapped in LlamaGuard dynamic bounds as the primary source for Ethereum, while listing RedStone among external dependencies. Loopscale's markets are configured per collateral without a token-holder vote, which is why the Solana venue is live first.
The $270 Billion CaseSecuritize's announcement leans on a Standard Chartered projection that assets deployed in DeFi reach $2.7 trillion by 2030, and reasons that tokenized assets at 10% of that market would put roughly $270 billion to work onchain. The arithmetic is the company's own, and Securitize disclosed in the Aave filing that it is the tokenization platform, transfer agent and investment adviser for HINC with "a direct commercial interest" in the listing.
What the Loopscale launch tests first is smaller and more concrete: whether a lending market can hold collateral that only allowlisted wallets can touch, liquidate it inside a T+1 redemption window, and price a mark that moves on credit spreads no borrower can see coming.
NuScale Power a MillenniTEK úspěšně vyrobily první bor-oxidové pelety pro pasivní systém nouzového chlazení jádra. Jde o krok k přípravě komercializace technologie SMR schválené NRC.
CORVALLIS, Ore. & KNOXVILLE, Tenn.--(BUSINESS WIRE)--NuScale Power Corporation (NYSE: SMR), the industry leading provider of proprietary and innovative advanced small modular reactor (SMR) technology, and MillenniTEK, an advanced nuclear materials manufacturer, today announced that they have successfully fabricated first-of-a-kind boron-oxide pellets for NuScale’s passive emergency core cooling system (ECCS).
The achievement marks an important step in NuScale’s continued progress toward commercialization readiness by furthering the development of specialized components and manufacturing processes that support the deployment of its U.S. Nuclear Regulatory Commission (NRC) approved SMR technology.
It also demonstrates NuScale’s commitment to safety, technical rigor, and the continued maturation of its supply chain and manufacturing capabilities. Upon ECCS actuation in a plant with NuScale technology, the pellets are designed to dissolve into the reactor coolant to help control and maintain core reactivity at safe levels without operator intervention.
“NuScale’s technology is built on a commitment to safety, simplicity, and deployability, and this milestone reflects the continued progress we are making to prepare our technology and supply chain for commercial deployment in the near-term,” said John Hopkins, NuScale President and Chief Executive Officer. “By working with experienced advanced nuclear manufacturers like MillenniTEK, we are progressing the production-ready processes needed to support our first customer deployments and bring NuScale’s technology – the only SMR with NRC approval – to market.”
“This first-of-a-kind fabrication milestone demonstrates MillenniTEK’s ability to support the advanced manufacturing needs of next-generation nuclear technologies,” said Steve Getley, MillenniTEK President. “We are proud to work with NuScale to help mature a critical manufacturing process that supports the safe and reliable deployment of its small modular reactor technology.”
NuScale remains focused on advancing the commercialization of its technology through disciplined engineering, manufacturing readiness, supply chain development, and customer deployment planning. As the only SMR technology with NRC-approved designs, NuScale continues to build the technical and industrial foundation needed to deliver reliable, carbon-free energy for customers around the world.
About NuScale Power
Founded in 2007, NuScale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. The NuScale Power Module™, the Company’s groundbreaking SMR technology, is a small, safe, pressurized water reactor that can each generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe (12 modules) of output.
As the first and only SMR to have its designs certified by the U.S. Nuclear Regulatory Commission, NuScale is well-positioned to serve diverse customers across the world by supplying nuclear energy for electrical generation, data centers, district heating, desalination, commercial-scale hydrogen production, and other process heat applications.
To learn more, visit NuScale Power’s website or follow us on LinkedIn, Facebook, Instagram, X, and YouTube.
About MillenniTEK
MillenniTEK was formed in 2010 by a management buy-out of Millennium Materials, a company that was owned by the UK company, Dyson Group PLC. In 2024, Houston based Pelican Energy Partners acquired the company.
MillenniTEK focuses on innovation and quality, our NQA-1 focused team has doubled production capacity, achieved yields greater than 95%, and introduced new ceramic product lines. Whether it’s technical ceramic manufacturing or rapid prototyping, MillenniTEK is dedicated to changing the world through cutting-edge materials.
The company is split into two divisions, the first being technical ceramic manufacturing where we convert materials that are in powder form into solid high tolerance components, in a high production output environment. The second division develops prototype parts in an array of high temperature materials to support the emerging SMR, Microreactor and Space Reactor sectors. To learn more, visit MillenniTEK’s website.
Forward Looking Statements
This release contains forward-looking statements (including without limitation statements containing words such as "will," "believes," "expects," “anticipates,” "plans" or other similar expressions). These forward-looking statements may include statements relating to our strategic and operational plans, expectations (including regarding our market positioning, our progress toward deploying our technology, the market for nuclear energy and providing energy technology for communities around the world), future growth, and the outlook of our business.
Our actual results may differ materially from what may be included in forward-looking statements as a result of a number of factors, including, among other things, the following: our ability to enter into binding contracts with customers to deliver NPMs; competition from other nuclear reactor technologies; delays in the development and manufacturing of NPMs and related technology; the possibility that we may continue to incur losses in the future and may not be able to achieve or maintain profitability; the cost of electricity generated from nuclear sources or our NPMs may not be cost competitive; the market for SMRs is not yet established and may not achieve growth as expected; our dependence on our relationships with ENTRA1 and other strategic partners; risks related to the Partnership Milestones Agreement that we entered into with ENTRA1; our ability to manage our growth effectively; our need for additional funding in the future; our partners’ and potential customers’ ability to secure funding; manufacturing and construction issues, including that our supply base in constrained; the politically sensitive environment we operating in and the public perception of nuclear energy; our dependence on senior management and other highly skilled personnel; our ability to obtain design approvals internationally; our customers’ ability to obtain required regulatory approvals on a timely basis or at all; compliance with environmental laws and evolving government laws and regulations; the impact of changing trade policies and new or increased tariffs; risks related to cybersecurity; changes in tax laws; our ability to protect our intellectual property; our limited number of authorized shares available for issuance; the price of our Class A common stock may be volatile; additional sales of our common stock or exercise of our options could result in dilution to our stockholders; we have and may in the future be subject to short selling strategies; NuScale Power, LLC being treated as a corporation for U.S. federal income tax or state tax purposes; and requirements under the Tax Receivable Agreement. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, our results may differ materially from its expectations and projections.
Additional information concerning these and other factors can be found in the Company's public periodic filings with the Securities and Exchange Commission, including the general economic conditions and other risks, uncertainties and factors set forth in the sections entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025 and in subsequent filings we make with the SEC. The referenced SEC filings are available either publicly or upon request from NuScale's Investor Relations Department at [email protected]. The Company disclaims any intent or obligation other than as required by law to update or revise any forward-looking statements.
Navitas oznámila, že první dodávky 5. generace GaNFast vyrobené v USA ve spolupráci s GlobalFoundries začnou v září. Cílí na AI infrastrukturu a kritickou infrastrukturu.
Combining Navitas’ proprietary Gen 5 GaNFast™ technology and expertise with GlobalFoundries’ advanced U.S. 200mm manufacturing and process baseline strengthens U.S. leadership in GaN and secures the domestic supply chain for next-generation AI and critical infrastructure
TORRANCE, Calif., Sept. 01, 2026 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, today announced that the first shipments of U.S.-manufactured 5th Generation GaNFast™ technology, in partnership with GlobalFoundries (GF), will begin in September, marking a major milestone in strengthening the domestic GaN ecosystem for AI infrastructure and critical national security applications.
In November 2025, Navitas and GF announced a long-term strategic partnership to accelerate U.S. GaN innovation and domestic manufacturing. Navitas developed its Gen 5 GaNFast FETs and power integrated circuits (ICs) for production at GF’s US based 200mm GaN-on-Si manufacturing facility in Burlington, Vermont.
The first shipment of the Gen 5 GaNFast family marks a major milestone in the Navitas-GF collaboration, bringing Navitas’ next-generation GaNFast technology into a U.S. production foundry for AI infrastructure, performance computing, industrial electrification, and critical national security applications.
Since 2014, Navitas has pioneered GaN power semiconductor innovation, establishing industry leadership in GaNFast FETs and power ICs that integrate power, drive, control, sensing and protection. With more than 300 issued and pending patents across GaN and SiC, Navitas has built deep proprietary expertise in GaN process design kits (PDKs), device architectures and integrated power technologies.
Working closely with GF, Navitas applied this expertise to optimize its proprietary Gen 5 GaNFast technology and device architectures for manufacturing on GF’s advanced 200 mm GaN-on-silicon platform. Combined with GF’s decades of semiconductor manufacturing expertise and high-volume production capabilities, the partnership delivers a trusted U.S.-based supply of advanced GaN power semiconductors for AI infrastructure and other critical applications.
“This milestone demonstrates the strength of American innovation and manufacturing,” said Chris Allexandre, President and CEO of Navitas. “Together with GlobalFoundries, we have established a trusted US-domestic manufacturing source for our GaNFast Gen 5 and future generations, which will play a critical role in powering AI infrastructure and high-performance computing while strengthening the resilience of the U.S. semiconductor ecosystem.”
“The first shipment from our U.S. manufacturing line demonstrates how GF and Navitas are turning advanced GaN innovation into a secure, scalable domestic supply,” said Kannan Soundarapandian, senior vice president of GF’s power business. “By combining Navitas’ power semiconductor leadership with GF’s manufacturing expertise, we are enabling the high-efficiency power solutions needed for AI infrastructure and other critical applications while strengthening the resilience of the U.S. semiconductor ecosystem.”
The initial product family is expected to include 650 V GaN FETs with RDS(ON) values of 11mΩ, 18mΩ, 50mΩ, 120mΩ, and 150mΩ, with first wafers scheduled to ship in September, internal samples in October, and strategic customer samples before the end of the year.
To learn more about Navitas’s capabilities in GaN technology, please contact a Navitas Representative or email: [email protected].
About Navitas
Navitas Semiconductor (Nasdaq: NVTS) is a next-generation power semiconductor leader in gallium nitride (GaN) and IC integrated devices, and high-voltage silicon carbide (SiC) technology, driving innovation across AI data centers, performance computing, energy and grid infrastructure, and industrial electrification. With more than 30 years of combined expertise in wide-bandgap technologies, GaNFast™ power ICs integrate GaN power, drive, control, sensing, and protection, delivering faster power delivery, higher system density, and greater efficiency. GeneSiC™ high-voltage SiC devices leverage patented ‘trench-assisted planar technology’ to provide industry-leading voltage capability, efficiency, and reliability for medium-voltage grid and infrastructure applications. Navitas has over 300 patents issued or pending and is the world’s first semiconductor company to be CarbonNeutral®-certified.
About GlobalFoundries
GlobalFoundries (GF) is a leading manufacturer of essential semiconductors, enabling AI at scale from the cloud to the physical world. Through deep partnerships with customers, GF delivers differentiated, power-efficient and high-performance solutions for automotive, aerospace and defense, data center, smart mobile devices, internet of things and other high-growth markets. With global manufacturing operations across the U.S., Europe and Asia, GF is a trusted and holistic technology partner for customers around the world. GF’s talented, global team remains focused every day on security, longevity and sustainability. For more information, https://gf.com/.
Navitas Semiconductor, GaNFast, GaNSense, GeneSiC, and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited and affiliates. All other brands, product names, and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Contact Information
Navitas Semiconductor
Vipin Bothra [email protected]
Navitas Investor Contacts
Leanne Sievers | Brett Perry
Shelton Group [email protected]
Cautionary Statement Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are attempts to predict or indicate future events or trends or similar statements that are not a reflection of historical fact. Forward-looking statements may be identified by the use of words such as “we expect” or “are expected to be,” “estimate,” “plan,” “project,” “forecast,” “intend,” “anticipate,” “believe,” “seek,” or other similar expressions. Forward-looking statements are made based on estimates and forecasts of financial and performance metrics, projections of market opportunity and market share and current indications of customer interest, all of which are based on various assumptions, whether or not identified in this press release. All such statements are based on current expectations of the management of Navitas and are not predictions of actual future performance. Forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions and expectations. Many actual events and circumstances that affect performance are beyond the control of Navitas and, forward-looking statements are subject to a number of uncertainties. Our businesses are subject to certain risks that could materially and adversely affect our respective business, financial condition, results of operations, or the value of our securities. For Navitas, these and other risk factors are discussed in the Risk Factors section of our most recent annual report on Form 10-K, as updated in the Risk Factors section of our most recent quarterly report on Form 10-Q, and in other documents we file with the SEC. If any of these risks, as discussed in more detail in our SEC reports, materialize or if our assumptions underlying forward-looking statements prove to be incorrect, actual results could differ materially from the results implied by these forward-looking statements.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13ece1b8-bb44-4193-967f-12611bb3a173
USA Rare Earth uzavřela 2. čtvrtletí s hotovostí asi 1,53 miliardy USD, ale jen 5,8 milionu USD tržeb. Firma zároveň plánuje akvizici Serra Verde za zhruba 2,8 miliardy USD.
USA Rare Earth's (USAR -0.95%) goal is to become a leader in critical minerals and a leading production partner for rare-earth elements, oxides, metals, and magnets. The company went public through a merger with a special purpose acquisition company (SPAC) in 2025, and it's been raising capital by selling its stock. Notably, the mining specialist has sold a significant equity stake to the U.S. government -- with the initial deal working out to a 10% ownership position and options to exercise warrants that could bring the government's ownership position as high as 16%.
Thanks to the company's fundraising moves, USA Rare Earth closed out the second quarter with a cash position of roughly $1.53 billion. Meanwhile, the company generated just $5.8 million in revenue in the quarter. With its current market capitalization at roughly $4.4 billion, even though the business is generating very little in sales, how should investors value the company?
Image source: Getty Images.
USA Rare Earth is a speculative bet with real catalysts Rare-earth elements and the broader category of critical minerals are essential for a wide range of defense and commercial technologies, and the U.S.'s ability to source these crucial building blocks represents a potentially foundational supply chain fault line with huge economic and national security implications.
China currently dominates the global market for the extraction and processing of rare-earth elements and critical minerals, and the U.S. and its allies are heavily reliant on its exports. Meanwhile, relations between the U.S. and China have generally become more adversarial, and China has moved to restrict access to minerals as a key point of leverage against its geopolitical rivals.
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In response to sourcing dynamics surrounding critical minerals, the U.S. is taking steps and moving quickly to increase its ability to reduce its reliance on China for important metals and elements. So while USA Rare Earth is currently generating little revenue relative to its valuation, there are good reasons to think that the business will scale rapidly.
USA Rare Earth is on track for a transformative acquisition In April, USA Rare Earth announced that it had entered into an agreement to acquire Brazilian rare-earth specialist Serra Verde for roughly $2.8 billion. The deal will see USA Rare Earth pay $300 million in cash and issue roughly 126.5 million new shares of common stock to Serra Verde -- a deal that will be hugely dilutive for shareholders but one that also looks poised to have a beneficial, transformative impact.
To facilitate the deal, the U.S. Department of Defense created a $1.55 billion special-purpose vehicle that includes $750 million in direct investment, $300 million in rare-earth element purchases, and $500 million in credit. With the acquisition's completion, USA Rare Earth projects that Serra Verde alone is on track to reach an annualized run rate for earnings before interest, taxes, depreciation, and amortization (EBITDA) between $550 million and $650 million by the end of 2027. Meanwhile, it expects that the combined company will generate roughly $1.8 billion in EBITDA in 2030. If USA Rare Earth hits that target, shares could be significantly undervalued at current prices.
Comstock uzavřel předběžnou dohodu se SOCAR o strategickém partnerství v hodnotě 1,65 miliardy USD, které má snížit čistý dluh z 3,1 miliardy USD na 1,5 miliardy USD. Současně oznámil těžební joint venture s Jerry Jonesem za zhruba 450 milionů USD.
FRISCO, TX, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE and NYSE Texas: CRK) ("Comstock" or the "Company") announced today that it has entered into a letter of intent with the State Oil Company of the Azerbaijan Republic ("SOCAR") under which SOCAR or a wholly owned subsidiary of SOCAR would acquire, subject to the terms of the letter of intent and a definitive purchase and sale agreement, (i) a non-operated working interest representing 20% of Comstock's interest in its Legacy Haynesville upstream assets, (ii) a non-operated working interest equal to 15% of Comstock's interest in its Western Haynesville upstream assets, reducing to 7.5% after five years and once SOCAR has achieved a 15% return on investment in those assets, and (iii) 15% of Comstock’s 73% ownership interest in Pinnacle Gas Services LLC, which provides midstream services to the Western Haynesville, for an aggregate purchase price of $1.65 billion in cash, subject to customary purchase price adjustments. The letter of intent binds the parties to negotiate in good faith a definitive purchase and sale agreement, with the parties targeting execution by October 31, 2026, and a closing by year end, in each case subject to the progress of negotiations. Closing will be subject to customary conditions, including any required government and third-party approvals. The transaction will have an effective date of July 1, 2026.
Under the strategic partnership, SOCAR will have the opportunity to participate in future opportunities generated by Comstock in the Legacy and Western Haynesville at the same percentages SOCAR is acquiring in the transaction and SOCAR will provide opportunities for Comstock to market its natural gas to international customers.
Key Transaction Benefits to Comstock
Validation of the Value of Comstock’s Asset Base – The $1.65 billion purchase price provides strong validation of the value upside represented by Comstock's upstream and midstream platforms. Introduces a Reputable International Strategic Partner – SOCAR brings its large investment-grade balance sheet to help accelerate value creation for Comstock’s investors as well as the benefits of its Global LNG marketing operations. Strengthens Balance Sheet – Comstock intends to use the proceeds from the transaction to reduce total indebtedness which will substantially reduce financial leverage and enhance financial liquidity. Pro forma for the transaction, Comstock's net debt reduces from $3.1 billion to $1.5 billion as of June 30, 2026. Accelerated Development of the Western Haynesville – The resulting stronger balance sheet will support continued delineation and development of Comstock's 545,000 net acres in the Western Haynesville, one of the largest undeveloped natural gas resources in the United States, positioned to serve growing LNG, power generation and data center demand along the Gulf Coast, including the Texas Power Generation Hub in Anderson County, Texas. Comstock Retains Operational Control – Comstock will remain operator of all upstream assets and will continue to manage, operate and control Pinnacle Gas Services. Future development and SOCAR's rights to pro rata participation in future leasing and acquisitions within an area of mutual interest will be governed by a development and ownership agreement as a part of the transaction. Balanced Long-Term Value Sharing - The transaction structure provides SOCAR with the opportunity to achieve a 15% return on its investment while retaining a 7.5% long-term interest in the Western Haynesville upstream assets thereafter. At the same time, the agreed reversion mechanism provides Comstock with increased participation in the future upside of the assets, creating a balanced structure that aligns both parties around their long-term performance. $450 million Haynesville Drilling Venture
Comstock also announced that it has entered into a Haynesville shale drilling venture with Jerry Jones, the Company's majority stockholder. Beginning September 1, 2026, a partnership owned by the Jones family will fund the drilling and completion costs of 85% of 18 Western Haynesville wells and 80% of nine Legacy Haynesville wells being drilled and completed by Comstock over the next twelve months, which is expected to cost approximately $450 million. After a 15% return on investment is achieved, 50% of the interest in the wells will revert to Comstock. The drilling venture will support the continued development and delineation of Comstock's 545,000 net acres in the Western Haynesville and provide volumes to Pinnacle Gas Services as well as strengthen Comstock's balance sheet.
M. Jay Allison, Chairman and Chief Executive Officer of Comstock, commented: "We are excited to announce a strategic alliance with SOCAR. This partnership introduces a reputable international strategic partner to help accelerate value creation for our investors, while allowing us to materially reduce debt and fully fund the planned development of our Western Haynesville acreage — all while Comstock retains operatorship and control of the upstream and midstream assets while maintaining substantial upside through the reversionary structure. We are also excited about the investment Jerry Jones is making in our Haynesville drilling program which will strengthen our balance sheet and allow us to continue to create value in our vast Western Haynesville assets."
Rovshan Najaf, President of SOCAR, commented: "This partnership brings together SOCAR's and Comstock's extensive experience and capabilities, creating a strong foundation for the further expansion of our strategic cooperation. We are pleased to invest alongside a team with a demonstrated track record in developing the Haynesville and Western Haynesville, and we look forward to a long-term partnership."
Advisors
Wells Fargo is acting as financial advisor to Comstock and O'Melveny & Myers LLP is serving as its legal counsel. J.P. Morgan Securities LLC is acting as financial advisor to SOCAR and Baker Botts LLP is serving as its legal counsel.
About Comstock Resources
Comstock Resources, Inc. is a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas. The Company's stock is traded on the NYSE and the NYSE Texas under the symbol CRK.
About Pinnacle Gas Services
Pinnacle Gas Services LLC is a Delaware limited liability company and a subsidiary of Comstock. Pinnacle owns and operates the Pinnacle gathering and treating system, which supports Comstock’s Western Haynesville natural gas operations in East Texas.
About SOCAR
SOCAR, a global energy company headquartered in Azerbaijan, specializes in the extraction, processing, and distribution of energy resources. As the largest integrated energy enterprise in the South Caucasus, SOCAR has a significant international presence, reflecting its important role across global energy markets.
Forward-Looking Statements
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the expected execution of a definitive agreement, the expected timing and completion of the proposed transaction, the receipt of required regulatory approvals, the anticipated use of proceeds, expected leverage and interest savings and future development plans. Such statements are based on management’s current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein, including the risk that a definitive agreement is not executed, that required approvals are not obtained or are delayed, or that the transaction is not completed on the terms described or at all. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct. Information concerning the assumptions, uncertainties and risks that may affect the actual results can be found in the Company's filings with the Securities and Exchange Commission ("SEC") available on the Company's website or the SEC's website at sec.gov.
Ron Mills
Vice President of Finance and Investor Relations
Comstock Resources
972-668-8834 [email protected]
NOVONIX uvedla, že její projekt Riverside byl vybrán do jihokorejsko-americké vládou vedené infrastrukturní iniciativy. Program má propojit americké projekty s korejskými firmami, investory a strategickými finančními partnery.
CHATTANOOGA, Tenn., Sept. 01, 2026 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) ("NOVONIX" or the "Company"), a leading battery materials company, welcomes the announcement by the Republic of Korea’s Ministry of Land, Infrastructure and Transport (“MOLIT”) and the Korea Overseas Infrastructure & Urban Development Corporation (“KIND”) that the Company’s Riverside synthetic graphite AAM manufacturing project has been selected for inclusion in a South Korea-U.S. government-led infrastructure initiative designed to connect major U.S. projects with Korean companies, investors and strategic financing partners.
As part of the initiative, MOLIT and KIND introduced a select group of U.S. projects to Korean construction companies, trading firms and infrastructure investors through a dedicated seminar in Seoul on August 27th. NOVONIX's Riverside project was included among approximately ten projects identified through high-level discussions between the U.S. and Korean governments.
The program is intended to convert government-to-government cooperation into commercial opportunities by connecting project developers with Korean industry participants, financial institutions and public agencies. The Korean government has also indicated it will support interested participants through coordinated "Team Korea" partnerships and KIND's strategic financial support capabilities.
"We are honored that the Riverside project has been selected for review as part of this significant Korea-U.S. infrastructure initiative," said Mike O'Kronley, Chief Executive Officer of NOVONIX. "The inclusion of Riverside in this program provides an opportunity to introduce our project to leading Korean companies and institutions as we continue advancing one of North America's most important battery materials manufacturing platforms. We are particularly encouraged by the collaborative approach being taken by MOLIT and KIND, including the potential to connect projects with strategic partners and financing resources that can help accelerate development."
The Riverside project was presented alongside a limited number of other U.S. infrastructure and industrial development opportunities identified through ongoing cooperation between the United States and Korean governments. Through the initiative, Korean companies will evaluate potential participation opportunities while KIND and other public agencies work to facilitate project development, strategic partnerships and financing support.
Original Korean announcement: https://n.news.naver.com/article/016/0002688574?sid=101
About NOVONIX
NOVONIX is building a resilient North American battery materials supply chain to reduce risk and support U.S. energy independence. Headquartered in Chattanooga, Tennessee, the company produces high-performance synthetic graphite anode materials for lithium-ion batteries, serving energy storage, electric vehicles, and industrial markets. Through proprietary technologies and expanding manufacturing capacity, NOVONIX is scaling critical battery materials to meet growing global demand.
Cautionary Note Regarding Forward-Looking Statements
This communication contains forward-looking statements about the Company and the industry in which it operates. Forward-looking statements can generally be identified by use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or other similar expressions. Examples of forward-looking statements in this communication include, among others, statements made regarding anticipated qualification and production and the timelines therefor, the deployment and scaling of furnace technology and the timeline therefor, the creation and development of new technology, and efforts to develop a North American battery materials supply chain.
The Company has based such statements on current expectations and projections about future events and trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Such forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the timely deployment and scaling of its furnace technology, ability to meet the technical specifications and demand of existing and future customers, the accuracy of estimates regarding market size, expenses, future revenue, capital requirements, needs and access for additional financing, the availability and impact and compliance with the applicable terms of government funding and other support, ability to obtain patent rights effective to protect its technologies and processes and successfully defend any challenges to such rights and prevent others from commercializing such technologies and processes, and regulatory and economic developments in the United States, Australia, and other jurisdictions. These and other factors that could affect its business and results are included in its filings with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s most recent annual report on Form 20-F. Copies of these filings may be obtained by visiting the Company’s Investor Relations website at www.novonixgroup.com or the SEC’s website at www.sec.gov.
Forward-looking statements are not guarantees of future performance or outcomes, and actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Accordingly, you should not place undue reliance on forward-looking statements. Any forward-looking statement in this communication is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to 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, except as required by law.
Silver Bow Mining oznámila na Rainbow Blocku v Butte dosud nejvyšší záchyt: 994,2 g/t AgEq na 4,0 m, včetně 1 586,1 g/t AgEq na 2,3 m. Výsledky potvrzují vysokou mineralizaci mimo současný odhad zdrojů.
BUTTE, Mont.--(BUSINESS WIRE)--Silver Bow Mining Corp. (NYSE American: SBMT) (“Silver Bow Mining” or the “Company”) is pleased to announce assay results from drill holes SBM26-03 and SBM26-04 from its ongoing 25,000-foot diamond drilling program at the Rainbow Block Project in Butte, Montana.
Silver Bow Mining reports 994.2 g/t AgEq over 4.0 m at the Rainbow Block in Butte, Montana, including 1,586.1 g/t AgEq over 2.3 m.
Share Highlights
SBM26-03 – Badger Vein: 4.0 m grading 994.2 g/t silver equivalent (“AgEq”) (309.0 g/t Ag, 1.85 g/t Au, 9.98% Zn, 5.75% Pb). including 2.3 m grading 1,586.1 g/t AgEq (455.0 g/t Ag, 2.76 g/t Au, 17.13% Zn, 9.71% Pb). SBM26-04 – Jessie Vein: 2.0 m grading 693.1 g/t AgEq (61.6 g/t Ag, 0.17 g/t Au, 13.77% Zn, 4.83% Pb). SBM26-04 – State Vein: 1.6 m grading 502.0 g/t AgEq (103.8 g/t Ag, 0.31 g/t Au, 8.19% Zn, 2.96% Pb). Three surface drill rigs are operating at the Rainbow Block with approximately 13,500 feet of the previously announced 25,000-foot Phase I diamond drill program now complete. The results from SBM26-03 and SBM26-04 follow the Company's June 22, 2026 drill results and provide additional evidence of high-grade polymetallic mineralization within the Badger Vein. The Badger Vein intercept from SBM26-03 is located approximately 125 meters (400 feet) beyond the boundary of the current Inferred Mineral Resource estimate (“MRE”) and approximately 125 meters from the Badger Vein intercept in SBM26-01, which returned 3.7 meters (“m”) grading 651.0 g/t AgEq (102.9 g/t Ag, 0.24 g/t Au, 11.23% Zn and 4.84% Pb).
The locations of the four Badger Vein drill-hole intercepts relative to the current MRE, historical mine workings and the interpreted Badger-State vein system are shown in Figure 1. Tables 1 and 2 provide assay highlights from SBM26-03 and SBM26-04.
Current Rainbow Block Mineral Resource and Exploration Program
Silver Bow Mining’s Rainbow Block hosts an Inferred Mineral Resource of 10.4 million tonnes grading 507.4 g/t AgEq (146.7 g/t Ag, 1.7 g/t Au, 4.59% Zn, and 1.25% Pb) containing 49.16 million ounces silver, 0.55 million ounces gold, 0.47 million tonnes zinc, and 0.13 million tonnes lead.
The Company's current diamond drilling program is designed to test the extent of mineralization outside the current MRE and support potential expansion of the Rainbow Block mineral resource. None of the reported mineralized intercepts from the current drill program are located within the boundaries of the current MRE.
Silver Bow Mining plans to complete an updated MRE for the Rainbow Block in the first half of 2027. The planned update is expected to incorporate results from the Company's current drilling program together with historical assay information from drilling and underground sampling conducted by previous operators, subject to completion of the necessary compilation, validation and verification of such historical information.
“The 4-meter intercept in SBM26-03 grading 994.2 g/t AgEq, including a 2.3-meter core at 1,586.1 g/t AgEq, is the strongest interval we have drilled to date at the Rainbow Block,” said Phillip Nickerson, PhD, CPG, Vice President of Exploration. “Beyond the grades themselves, what stands out is that this intercept sits approximately 125 meters, or 400 feet, west of the high-grade intersection in our first hole of the season, SBM26-01, which returned 651.0 g/t AgEq over 3.7 meters. These results provide further evidence of potential high-grade mineralization not only along the Badger Vein, but also across several sub-parallel vein systems, and support our continued work to expand the current resource estimate. We believe we are still in the early stages of characterizing the scale and extent of the mineralized system at the Rainbow Block.”
“These results continue what we believe is a strong start to the 2026 drilling program at the Rainbow Block,” said Travis Naugle, Chairman and CEO. “With three surface drill rigs operating, we are focused on building the body of technical data needed to evaluate the broader potential of the numerous Rainbow Block vein systems and support an updated Mineral Resource estimate in the first half of 2027. The combination of high-grade silver with significant zinc and lead mineralization is a key attribute of the Rainbow Block and is particularly important given the growing strategic importance of these Critical Minerals to the United States. As our Phase I drilling continues and we prepare to advance our exploration program from underground locations, our focus is on systematically testing the broader mineralized system on the Rainbow Block and building the technical foundation to further define its scale and growth potential.”
Additional Drill Intersections
In addition to the high-grade Badger Vein intercept, SBM26-03 intersected mineralization interpreted as the Unnamed Vein, North Edith May Vein and North Badger Vein, all outside the current MRE.
SBM26-04 intersected multiple mineralized veins outside the current MRE, including the Badger Vein, State Vein, North State Vein, Poser Fault Vein, Jessie Vein and Rainbow Vein. The strongest interval in hole SBM26-04 was from the Jessie Vein, which returned 2.0 meters grading 693.1 g/t AgEq (61.6 g/t Ag, 0.17 g/t Au, 13.77% Zn and 4.83% Pb).
In SBM26-04, poor drilling conditions were encountered from 602.6 to 603.8 meters and no core was recovered from the 1.2-meter interval. This interval of no core recovery was closely followed by a 1.4-meter mineralized intercept from the Rainbow Vein which graded 253.2 g/t AgEq (78.0 g/t Ag, 0.06 g/t Au, 3.60% Zn and 1.60% Pb). Given the poor recovery, the full extent of the Rainbow Vein intersected in SBM26-04 is uncertain.
The Company's surface drilling campaign is expected to continue through 2026 and is regulated by the Montana Department of Environmental Quality pursuant to Exploration License No. 00857.
Badger Vein
The Badger Vein lies adjacent to the historic Badger Shaft and was historically mined between the 1,200- and 2,200-foot levels, below the current water table. A review of the extensive historical geological information available to the Company indicated that west of the shaft, the Badger Vein was offset by a fault and continued west, merging with the State Vein as illustrated in Figure 1. Silver Bow Mining’s Phase I drilling has now confirmed the westerly extension of the Badger Vein.
The Company continues to use historical geological and mining information to target extensions of known vein systems across the Rainbow Block.
Technical Disclosure
Mineral Resource Estimate: The Company's current Inferred Mineral Resource for the Rainbow Block is disclosed in the Technical Report Summary prepared in accordance with the requirements of Subpart 1300 of Regulation S-K titled, Technical Report Summary: Rainbow Block, Butte Mining District, Silver Bow County, Montana, USA, and the National Instrument 43-101 – Standards of Disclosure for Mineral Projects technical report titled, Technical Report on the Rainbow Block Property, Butte Mining District, Silver Bow County, Montana, USA, each with an effective date of December 31, 2024 and updated February 3, 2026, prepared by Jacob Anderson, CPG, MAusIMM of Dahrouge Geological Consulting.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. Inferred Mineral Resources have a high degree of geological uncertainty and may not be considered when assessing the economic viability of a mining project or converted to mineral reserves. There is no assurance that any Inferred Mineral Resource will be upgraded to a higher category through continued exploration or that any mineral resource will ultimately be converted to a mineral reserve.
Sample Preparation and Analytical Methods: Diamond drill core was logged, photographed and sampled by Silver Bow personnel at the Company’s Butte core logging facility. Sample intervals were selected based on geologic criteria and ranged from approximately 1 to 5 feet. Core selected for analysis was sawn longitudinally, with one-half submitted for analysis and the remaining one-half retained for reference in Silver Bow Mining secure core storage facilities.
Samples were individually bagged and transported under chain-of-custody procedures by courier to ALS Global (“ALS”) in Elko, Nevada. ALS is independent of Silver Bow Mining. The ALS laboratories used for the analyses reported herein are accredited to ISO/IEC 17025.
Samples were prepared using ALS method PREP-31BY, which includes crushing to 70% passing 2 millimeters, rotary splitting of a 1-kilogram sample, and pulverization to 85% passing 75 microns. Silver and gold were analyzed using ALS method ME-GRA22, consisting of a 50-gram fire assay with a gravimetric finish. Zinc, lead and indium were analyzed using ALS method ME-MS61, consisting of four-acid digestion followed by inductively coupled plasma mass spectrometry (ICP-MS) and inductively coupled plasma atomic emission spectrometry (ICP-AES). Samples returning values above the upper analytical limits of the primary methods were re-analyzed using appropriate over-limit methods. High-grade silver samples were analyzed using Ag-OG62, and high-grade zinc and lead samples were analyzed using Zn-OG62 and Pb-OG62.
Quality Assurance and Quality Control: Silver Bow Mining maintains a quality assurance and quality control (“QA/QC”) program for its diamond drilling that includes the systematic insertion of blanks and certified reference materials into the sample stream at a combined rate of approximately 10% or one QA/QC sample per 10 samples. ALS Global also performs its own internal laboratory QA/QC procedures.
QA/QC results for SBM26-03 and SBM26-04 were reviewed by the Company's Qualified Person. Some certified reference materials performed outside the Company's established acceptance criteria for Au in SBM26-03. Re-assays were performed on the CRM pulps of concern and surrounding samples (±5) to verify result consistency. Re-assays of surrounding samples showed excellent agreement with original results, with no systematic bias. One assay discrepancy was identified (22.7 ppm Au original vs. 1.76 ppm Au re-assay); a review of fire assay and gravimetric records by ALS indicated an isolated carryover event during gravimetric processing as the likely cause, rather than a broader analytical issue. Based on this review, the Qualified Person considers the analytical results reported in this release to be reliable.
Silver Equivalent Calculation: AgEq grades reported in this news release use metal prices and estimated recovery assumptions consistent with the Company's current MRE. The following metal prices were used: silver – $25.00/oz; gold – $2,500/oz; zinc – $1.31/lb; and lead – $0.90/lb. Estimated metallurgical recoveries of 90% were applied to each metal included in the calculation.
AgEq is calculated by determining the per-ton in-situ value of silver, gold, zinc and lead, applying the respective estimated metallurgical recovery to each metal, summing the resulting values and dividing the total by the silver price adjusted by the estimated silver recovery. Indium is reported separately and is not included in the AgEq calculation.
The metallurgical recovery assumptions used in the AgEq calculation are consistent with those used in the current Rainbow Block resource estimate. Actual metallurgical recoveries have not been established for the specific mineralized intervals reported in this release and may differ from the assumptions used.
Qualified Person and Data Verification: The scientific and technical information contained in this news release has been reviewed and approved by Phillip Nickerson, PhD, CPG, Vice President of Exploration of Silver Bow Mining Corp., who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and a “Qualified Person” as defined by Subpart 1300 of Regulation S-K of the U.S. Securities and Exchange Commission.
Dr. Nickerson specifically reviewed the analytical and QA/QC data supporting the drill results reported in this news release and considers the results reliable for the purposes of this disclosure. No limitations on or failures to verify the data were identified that could materially affect the results reported herein.
About Silver Bow Mining Corp.
Silver Bow Mining Corp. is a minerals exploration company advancing the Butte Mining District of Montana, targeting a broad suite of U.S.-designated Critical Minerals, including silver, copper, zinc, lead, manganese, germanium, gallium, antimony, bismuth and indium, alongside gold. The Company holds approximately 4,210 acres of patented mineral claims and approximately 1,427 acres of surface lands across multiple claim blocks in this historically prolific district, including the flagship Rainbow Block.
On Behalf of Silver Bow Mining Corp.,
Travis Naugle, Chairman and Chief Executive Officer
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, included in this news release that address activities, events or developments that we expect or anticipate will or may occur in the future are forward-looking statements and forward-looking information. When used in this news release or elsewhere, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “project,” “target,” “will,” “could,” “should,” and similar expressions, or statements that certain actions, events or results “may,” “could,” “would,” “should,” “might” or “will” occur or be achieved, often, but not always, identify forward-looking statements and forward-looking information.
These forward-looking statements and forward-looking information include, but are not limited to, statements regarding the Company’s ongoing 25,000-foot diamond drilling program at the Rainbow Block; the continuation and timing of the Company’s 2026 drilling program; the continued operation of three surface diamond drill rigs; continued exploration and drilling of the Badger-State vein system and other vein systems at the Rainbow Block; the objectives and anticipated results of the Company’s exploration and drilling programs; the potential scale, continuity, extent and quality of mineralization; the potential to extend known mineralized vein systems; the potential expansion of the Rainbow Block Mineral Resource; the Company’s plans and timing for completion of an updated Mineral Resource estimate in the first half of 2027; the potential incorporation into a future Mineral Resource estimate of results from the Company’s current drilling program and historical drilling and underground sampling information; the compilation, validation and verification of such historical information; the potential significance of the Rainbow Block and its mineralization in the context of U.S. critical and strategic minerals policy; and other similar statements regarding the Company’s exploration and development plans for the Rainbow Block.
Forward-looking statements and forward-looking information are based on the Company’s current expectations and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including the risk that additional drilling and assay results may not confirm the continuity, grade, extent or quality of mineralization; the risk that drilling may not extend known mineralized vein systems or support an expansion of the current Mineral Resource estimate; uncertainty associated with Mineral Resource estimates, including the high degree of geological uncertainty associated with Inferred Mineral Resources; the risk that Inferred Mineral Resources may not be upgraded to a higher category through continued exploration or ultimately converted to Mineral Reserves; the ability to compile, validate and verify historical drilling, assay and underground sampling information to the standard required for its use in a future Mineral Resource estimate; the timing and completion of the Company’s exploration and drilling programs and an updated Mineral Resource estimate; changes in U.S. laws, regulations, executive orders, policies or government priorities relating to critical and strategic minerals; the Company’s future capital costs, operating costs, non-operating costs, and ability to raise capital on terms acceptable to the Company or at all; risks relating to the Company’s exploration activities in Montana; risks related to the Company’s mineral claims, including the validity, title and maintenance of mineral claims and property rights; risks in obtaining, maintaining or amending permits, licenses and future permitting and regulatory approvals; commodity-price fluctuations; litigation; and the inherently hazardous nature of mining-related activities and other operational and environmental risks inherent in mineral exploration and mining-related activities. Additional risk factors are discussed under the headings “Forward-Looking Statements” and “Risk Factors” in the Company’s Registration Statement on Form S-1, as amended, filed with the U.S. Securities and Exchange Commission on April 24, 2026, the Company’s Canadian prospectus dated April 29, 2026, filed on SEDAR+, and in other documents filed by the Company with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking statements and forward-looking information, which speak only as of the date of this news release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.
ARK Invest říká, že druhá Starbase SpaceX v Louisianě za 100 miliard USD je „masivně předimenzovaná“, ale má podpořit AI a Starlink. Winton tvrdí, že současná kapacita nestačí na plánované tempo startů.
Cathie Wood-led ARK Invest‘s Chief Futurist Brett Winton has weighed in on why Elon Musk and Space Exploration Technologies Corp. (NASDAQ:SPCX) are heavily investing in building a second Starbase spaceport in Louisiana.
Starbase Will Feature Multiple Starship TowersAccording to an investor note released by ARK on Monday, Winton said that the Starbase in Louisiana was a $100 billion commitment spanning roughly 125,000 acres at Pecan Island in Vermilion Parish and will feature five complexes, each equipped with two Starship towers.
It will start with ten launch pads and eventually expand to over a dozen towers supporting around 30 flights per day, Winton said, touting on-site propellant production, power generation, deep-water shipping, vehicle processing, employee housing, and likely an airport.
He also pointed to SpaceX President Gwynne Shotwell, who said that SpaceX’s current capacity cannot accommodate Starship’s intended launch cadence.
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ARK Invest anticipates this capacity will serve payloads worth trillions of dollars annually, starting with billions for Starlink and trillions for the Starmind AI constellation. Per ARK’s estimates, a single reusable Starlink-loaded Starship flight could generate about $4 billion in lifetime net cash flow against $1 billion in launch, satellite manufacturing, ground station, and acquisition costs, he wrote in the investor note.
An Opportunity Larger Than ARK Can ModelTaking to X on Monday, Winton expanded upon the note as he quoted an earlier post he made that detailed Starbase’s cost coming in just behind Gov. Gavin Newsom‘s (D-CA) California High Speed Rail Project, but it was for a reason. “We think this [Starlink] opportunity scales into the hundreds of billions of dollars before returns begin to decay,” Winton said in the post.
He added that the commercial space flight company was “going after a larger connectivity opportunity than we currently mode,” outlining SpaceX’s claimed $1.6 trillion opportunity compared to ARK’s $600 billion figure.
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“Starbase Louisiana is massively overbuilt for just serving connectivity,” he said. “The reason to build so big: the AI opportunity can compound at much larger scale,” Winton added.
“We think cost per GW on earth moves north of $60b per GW in 2029 and crosses $76b in 2032,” he said, talking about terrestrial data center costs per Gigawatt and how SpaceX’s AI satellites could weigh 2,000 kg each, while citing Starlink’s per-satellite cost of $1000/kg.
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“We also know that cost of launch will fall to something south of $100 per kg all-in if they can make Starship reuseable,” he said. He added that this could translate to SpaceX launching satellites for $38 billion per GW.
In the same thread, he outlined that “after the 100th launch of its AI satellites,” SpaceX will have brought the costs down to $32 billion per GW. “SpaceX should enjoy an undeniable cost advantage over every other player,” he said, but warned monetization could become a challenge.
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Price Action: SPCX shares fell 0.91% to $143.29 during pre-market trading on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
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Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Apple by měl v roce 2026 těžit ze slabšího Androidu, protože iOS má podle IDC klesnout jen o 1,3 % proti 24,3% propadu Androidu. V Číně ale může růst Huawei omezit jeho zisky na trhu.
Apple Inc (NASDAQ:AAPL) may be heading into one of the smartphone industry‘s toughest years in a stronger position than many investors realize.
While IDC (International Data Corp.) has sharply cut its 2026 global smartphone shipment forecast, JPMorgan argues the downturn is increasingly concentrated in segments of the market Apple barely serves—setting the stage for market share gains almost everywhere except China, where Huawei‘s resurgence could pose an obstacle.
Apple Smartphone Market ShareIDC now expects global smartphone shipments to fall 16.7% year over year in 2026, a steeper decline than its previous forecast of 13.9%, bringing annual shipments closer to 1 billion units. At first glance, the numbers paint a bleak picture for handset makers.
JPMorgan analyst Samik Chatterjee, however, argues that the headline masks a more favorable competitive backdrop for Apple. According to IDC, iOS shipments are projected to decline just 1.3% next year, compared with a 24.3% drop for Android devices, lifting Apple’s operating system to a record 23.6% share of global smartphone shipments.
JPMorgan is even more optimistic, forecasting iPhone shipments to grow 1.3% to 243.8 million units in calendar 2026. Chatterjee attributes that resilience to Apple’s limited exposure to entry-level smartphones, where IDC expects the sharpest demand destruction, including a nearly 60% plunge in shipments of devices priced below $100.
The broader implication is that the industry’s contraction is becoming less about premium smartphones and more about the low-cost segment—a shift that naturally favors Apple.
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Apple’s Supply AdvantageThe brokerage also sees Apple’s supply chain as a key differentiator in an increasingly constrained market.
IDC expects memory prices to remain elevated through 2028, as NAND and DRAM costs have surged more than 300% year over year. Smaller Android manufacturers, with less purchasing power, are likely to face higher component costs and steeper price increases.
By contrast, JPMorgan believes Apple’s long-term supplier agreements, component pre-buys, vertical integration and purchasing scale should allow it to absorb some of those cost pressures. As a result, Chatterjee expects Apple to increase iPhone prices by less than the broader industry while continuing to compete in the premium segment.
In other words, Apple’s competitive edge may come less from introducing a breakthrough product and more from being better equipped to navigate a difficult supply environment.
Huawei Challenges Apple in ChinaWhile weakening Android demand should create opportunities for Apple across most markets, JPMorgan identifies Huawei as the key exception. IDC expects HarmonyOS shipments to roughly triple to 51 million units in 2026 as Huawei absorbs production capacity from smaller Chinese smartphone makers that are pulling back.
That distinction matters because it shifts the competitive equation in China. Rather than benefiting from broad Android weakness, Apple is more likely to compete directly against a strengthening Huawei ecosystem, making the Chinese market the biggest variable in Apple’s global market share story.
The key question is not whether the smartphone market shrinks in 2026, but whether Apple’s premium positioning and supply chain advantages allow it to gain market share despite the downturn. The one major caveat is China, where Huawei’s recovery could determine how much of that global opportunity Apple ultimately captures.
Alibaba uzavřela pod 115 USD, asi 60 % pod historickým maximem z října 2020. V červnovém čtvrtletí tržby vzrostly o 8,6 %, ale čistý zisk klesl o 75,6 %.
Alibaba (BABA -4.10%) closed below $115 on Aug. 31, putting it about 60% below its all-time closing high of $298.65 set in October 2020. The math on that drawdown may look like a gift. I do not think it is one, and here are three reasons why.
Reason No. 1: The earnings base is collapsing while revenue grows This is the part that breaks the "cheap stock" framing. In the June quarter, Alibaba grew revenue 8.6% to RMB 268.95 billion. But net income excluding extra items fell 75.6% to RMB 10.54 billion from RMB 43.12 billion a year earlier. Basic earnings per share (EPS) dropped from RMB 18.57 to RMB 4.51.
Profit margins compressed from 14.8% to 7%. When you buy a stock 60% off its high, you are implicitly assuming that the earnings that justified the old price still exist. Here, they have been cut by three-quarters. Adjust the multiple for that, and the discount shrinks fast.
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Reason No. 2: The AI build-out consumes cash rather than generating it Capital expenditure hit RMB 67.7 billion in the quarter, up 75% year over year. Free cash flow swung to an outflow of RMB 44.67 billion. Alibaba has spent RMB 190 billion of an RMB 380 billion three-year plan, so it is halfway through, and the spending is not linear.
Management was candid about the trade-off. The CFO said that at current margins, keeping cloud growth below 33% would generate positive cash flow, but the company is choosing to make aggressive investments instead. Break-even on AI capex takes three years at current gross margins, potentially 2.5 years if margins improve.
Image source: Getty Images.
The cloud business is genuinely good. External revenue grew 45%, a 22-quarter high, with EBITDA margin at 12% and AI product revenue at an RMB 49.5 billion annual run rate. But it is not yet large enough to offset the group drag. The stock fell about 9% the day these results landed, despite that acceleration.
Reason No. 3: The instant commerce war has no clean exit In 2025, HSBC (HSBC -0.38%) estimated that Alibaba lost as much as RMB 87 billion in instant retail over 12 months. The company incurs roughly RMB 2 to 5 per order. It treats this as customer acquisition cost rather than operational failure, and maybe that framing is right. However, it means a second uncapped spending program running alongside the AI build-out, funded by the same balance sheet.
There is a bigger point here that bulls tend to skip. Alibaba is fighting an expensive, grinding war for a domestic market it already knows well, against a competitor that will not fold. Meituan cut its quarterly operating loss from RMB 16.1 billion to RMB 6.5 billion and still holds roughly 70% of orders with an average value above RMB 30, where the margin actually lives.
Meanwhile, the market that people imagine Alibaba eventually cracking is close. Amazon (AMZN -2.50%) holds roughly 37.6% to 40.5% of the United States e-commerce market, with Walmart (WMT +1.73%) a distant second near 6.4%. Add Shopify's (SHOP -3.62%) 14%, and those two platforms account for about half of all United States online spending. Alibaba does not register in that table. It never has, and the combination of logistics density, Prime lock-in, and political sensitivity around Chinese platforms means it never will, in my opinion.
What the setup actually is Alibaba has lots of cash reserves and can absorb this. Cloud growth is accelerating, AI products carry higher gross margins than the rest of the portfolio, and management targets RMB 100 billion in external cloud revenue by 2030 at 20% gross margins.
That is a credible long-term story. It is not a once-in-a-decade setup. A once-in-a-decade setup is a healthy business priced for disaster. This is a business voluntarily suppressing its earnings on two fronts simultaneously, with no committed end date for either, while free cash flow is negative.
Nvidia ve 2. čtvrtletí více než zdvojnásobila tržby na 96,2 miliardy USD a upravený zisk na akcii vzrostl o 120 % na 2,22 USD. Akcie ale do konce pátku po zveřejnění výsledků klesly o 5,5 %.
"This time is different," explained Nvidia (NVDA +1.49%) CEO Jensen Huang in a recent interview, in response to concerns about a pending artificial intelligence (AI) downturn.
And after Huang announced blowout quarterly numbers on Wednesday, it looked for a hot second as if things really were different. On Thursday, it seemed as if investors were finally rewarding the tech giant for its incredible outperformance, rather than sending shares lower, which is what happened after each of Nvidia's last four consecutive blowout earnings reports.
Unfortunately, it didn't last. By the end of the day on Friday, Nvidia's shares had fallen 5.5%. That leaves them barely above their pre-earnings close.
Why can't Nvidia seem to catch a break from the market? And is Huang right that things are about to change in a big way for Nvidia, and for AI in general? Here's what investors need to know.
Image source: Nvidia Corporation.
Nvidia's incredible quarter Nvidia really couldn't have done much better in its second quarter. Revenue more than doubled from the prior year to $96.2 billion, beating expectations. Adjusted earnings per share jumped 120% year over year to $2.22, also well above the anticipated $2.09.
Adjusted net income came in at $54 billion. That's a year-over-year increase of $29.2 billion, which -- as my colleague Jeremy Bowman pointed out on Wednesday -- is roughly equal to Apple's entire Q2 net income. In other words, Nvidia added an Apple's worth of profitability to its results in one year.
But the biggest news, which seemed to have pushed the stock higher after the report was released, was the company's projection of 70% revenue growth in 2027, smashing analysts' forecast of 44%. Nvidia's shares opened 6% higher on Thursday, and surged to an intraday high of $230.39 -- a 9.9% gain.
The fact that Nvidia's stock has already given up almost all of its post-earnings gains shows how skeptical investors are of continued AI investment. So, why does Jensen Huang think this time is different for Nvidia?
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Is it really all that "different"? One of the most dangerous phrases in investing is "this time is different." Research shows that investors often overestimate the impact of a potentially disruptive technology on an industry and underestimate how long it will take for new technologies to deliver significant returns on investment.
But Huang thinks we are now hitting an inflection point in AI technology that will change how computing functions, causing a major upheaval in the demand cycle.
"This time is different because this is not demand-driven. This time is different because it's not seasonal," he explained. "This is industrially driven, meaning the fundamental technology of computers is changing."
Image source: Getty Images.
Huang believes that while computer infrastructure upgrades have previously been cyclical -- largely consisting of swapping out aging hardware for newer models of the same type -- AI represents a fundamental shift in how computers function. It will require systemwide upgrades and exponentially more infrastructure to handle the massive computer workloads AI requires.
If he's correct -- and Nvidia's results have borne out his thesis so far -- Nvidia looks incredibly undervalued at its current price, and investors may kick themselves for selling the stock after the last five earnings reports instead of buying more.
OneRail spouští platformu OmniStar s technologií Nvidia, která má retailerům výrazně zrychlit rozhodování o doručení a zkrátit výběr trasy z 20 minut na 2,5 minuty.
Logistics company OneRail is launching a platform using Nvidia's artificial intelligence software to help retailers make faster decisions on the most efficient delivery options at scale, CNBC has learned.
The new platform, called OmniStar, allows retailers to use AI to evaluate all of their delivery options and identify the best one for each individual order, using OneRail's proprietary data.
The last-mile delivery company told CNBC the new platform will allow smaller companies to deliver at scale and improve margins to compete with the retail giants of the world, including Amazon and Walmart.
As e-commerce grows, retailers have had to keep up with surging demand and invest in nimble supply chains to optimize their efficiency. But those manual processes are often fragmented across the retailer and the logistics businesses.
"If you don't have the ability to make lightning-fast decisions, you're giving up margin," OneRail CEO Bill Catania told CNBC. "Last-mile fulfillment is expensive."
Where choosing the best routing for a package may have previously taken 20 minutes, OneRail said its platform can do it in two and a half minutes leveraging AI. That time saved means retailers can operate larger, faster and more precise supply chains, Catania said.
"That's where the artificial intelligence comes in. It's making those kinds of decisions extremely rapidly, and so to do that, that's where the Nvidia hardware and the software comes in and really makes this thing work at scale," said David Daeschler, the head of AI at OneRail.
Daeschler said the company began partnering with Nvidia three years ago to explore ways to incorporate AI into the logistics process.
"The result is a real-time decision layer that can route an order to the right carrier and delivery mode at the right cost, rather than relying on static rules or manual planning," said Azita Martin, Nvidia's vice president and general manager of retail and consumer packaged goods.
Catania said OneRail's proprietary data, which includes a network of more than 12 million drivers and over 1,000 logistics partners, is being used to train the AI on the most efficient routes and delivery options.
"It's for the benefit of them and us: We operate more efficiently. They save money and provide a better customer experience," Daeschler said.
The company told CNBC its platform has already been deployed with some customers, including a large tire distributor that saw OmniStar save the company a run rate of $40 million over three years because it's able to use its resources more efficiently.
It's also estimating the platform will surpass $6 billion in gross merchandise volume in the fourth quarter.
Nvidia's Martin said the platform will allow retailers to make much faster decisions.
"For retailers, the bigger value is the ability to evaluate more scenarios, respond more quickly as conditions change and improve delivery economics without sacrificing service," Martin said.
OneRail said the platform could help smaller retailers compete more effectively on delivery speed and efficiency.
OneRail announced a partnership earlier this year with FedEx to bring same-day delivery services to all of its customers, joining a race of retailers trying to offer their customers the best and fastest delivery options. That partnership will now allow OneRail to better work with smaller businesses as well, Catania added.
"We're kind of doing for delivery what ChatGPT and Anthropic have done for words – it all works the same way," Daeschler said. "They give people more access to knowledge. We're giving people access to being able to do delivery in a way that's affordable. … That's all done based on original models, training on data that we have, just like words on the internet."
Eureka Metals zahajuje první osmidílný vrtací program na cíli Hook na projektu KM98 v Québecu. Cílem je ověřit, zda povrchová titanová mineralizace pokračuje do hloubky.
Vancouver, British Columbia--(Newsfile Corp. - September 1, 2026) - Eureka Metals Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S580) ("Eureka" or the "Company") is pleased to announce plans for an initial eight-hole drill program at the Hook Target on its KM98 Project ("KM98" or the "Project"), located approximately 60 km north of Havre-Saint-Pierre, Québec.
The program will drill from four approved drill sites, with individual holes planned to a maximum depth of approximately 200 m, to determine whether the large geophysical targets identified beneath and between known surface occurrences represent extensions or additional bodies of the titanium-bearing oxide mineralization identified at surface.
Highlights:
High-grade titanium mineralization at surface: Sampling at the North area returned up to 28.50% TiO₂, 66.31% Fe₂O₃ and 2,085 ppm vanadium from massive oxide mineralization.Drilling to test an approximately 5 km prospective trend: The Hook Target combines titanium-bearing massive and semi-massive oxide mineralization at surface with large geophysical targets beneath and between the known occurrences.Large, untested Center target: 3D magnetic inversion modelling indicates a sizeable magnetic body between the mineralized North and South areas, extending from near surface to depth and not previously tested by drilling.Eight-hole initial drill program: Eight holes from four approved drill sites are planned to test known surface mineralization and the larger targets identified by geophysics.First subsurface test of Hook: Drilling will begin testing the potential scale and geometry of oxide mineralization beneath the Hook Target and provide information to refine future drilling."Hook gives us an opportunity to test whether the high-grade titanium mineralization we have identified at surface is part of a much larger mineralized system at depth," said Danny Matthews, Chief Executive Officer of Eureka Metals. "We have titanium-bearing massive oxide mineralization at multiple locations along an approximately 5 km prospective trend and a large, untested geophysical target between the known surface occurrences. With our first drill program at Hook, we are now moving from surface discoveries and geophysical targets to directly testing the potential scale of the system below surface."
Figure 1: Hook Target showing the approximately 5 km prospective trend defined by magnetic and electromagnetic geophysics, known surface mineralization and proposed drill locations.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9639/312362_b6167414b40a68cb_001full.jpg
Hook Target
Prospecting at Hook in 2024 identified titanium-bearing massive and semi-massive oxide mineralization at the North and South areas. At North, a grab sample of massive oxide containing greater than 65% visually estimated mineralization returned 28.50% TiO₂, 66.31% Fe₂O₃ and 2,085 ppm vanadium.
Airborne geophysical data and subsequent 3D magnetic inversion modelling indicate substantially larger targets beneath and between the known surface occurrences. In particular, the Center area contains a sizeable magnetic target extending from near surface to depth. Center has no surface assay results or bedrock observations and has never been drill tested.
The initial drilling will test beneath known surface mineralization as well as the Center target to begin determining how the mineralization observed at surface relates to the larger geophysical footprint at depth.
Figure 2: Proposed diamond drill holes at the North and South areas plotted on a 3D magnetic vector inversion (MVI) model from the 2023 AirTEM survey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9639/312362_b6167414b40a68cb_002full.jpg
Initial Drill Program
The current drill plan consists of eight proposed holes from four approved drill sites across the South, Center and North areas. Individual holes are planned to maximum depths of approximately 200 m.
Drilling is expected to begin in areas where titanium-bearing massive and semi-massive oxide mineralization has already been identified at surface before progressing to the Center target. The program is designed to test whether the large geophysical targets correspond to massive oxide bodies beneath surface and, where mineralization is encountered, begin establishing its thickness, orientation and composition.
Drill targeting is being refined using the Project's magnetic and electromagnetic geophysical datasets. Magnetic susceptibility and conductivity measurements are also planned on drill core to correlate the geology encountered in drilling with the airborne geophysical responses and assist in refining future drill targets.
Final hole depths, orientations, sequencing and total metres completed may be adjusted based on geological observations, drilling performance and the available operating window.
KM98 Exploration Program
The Hook drill program follows the Company's recently announced stripping and channel sampling program at the Roadside Target. Roadside and Hook are separate exploration targets, with Hook representing the Company's priority drill target at KM98.
Site preparation is underway, with drill mobilization anticipated in early September. The Company will provide a further update once drilling has commenced.
About the KM98 Project
The KM98 Project is located approximately 60 km north of Havre-Saint-Pierre, Québec, within the Havre-Saint-Pierre Anorthosite Complex. The Project hosts multiple titanium-iron-vanadium exploration targets associated with oxide mineralization identified through historical exploration, airborne geophysics and surface sampling.
Eureka holds an option to acquire an interest in the KM98 Project pursuant to the terms previously disclosed by the Company.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Ryan Versloot, P.Geo., a technical advisor to the Company and a Qualified Person as defined under National Instrument 43-101. The Company has not independently verified all historical exploration data generated by previous operators and referenced in this news release.
About Eureka Metals Corp.
Eureka Metals Corp. is a Canadian mineral exploration company focused on the acquisition and advancement of exploration projects in Canada. The Company holds a 100% interest in the Tyee Titanium Project in Québec, prospective for titanium-vanadium-scandium mineralization; an option to acquire up to an 80% interest in the KM98 Titanium Project in Québec; and an option to acquire a 100% interest in the Cabin Lake Polymetallic Project in British Columbia, prospective for silver-lead-zinc-gold mineralization.
Forward-Looking Statements
Certain statements contained in this news release, including statements relating to the proposed drill program at the KM98 Project, anticipated drill mobilization, proposed drill locations, orientations, depths and sequencing, the amount of drilling that may be completed, the objectives of the drill program, interpretations of geophysical data, the potential relationship between geophysical targets and surface mineralization, and the Company's future exploration plans, constitute forward-looking information within the meaning of applicable securities laws.
Such forward-looking statements reflect management's current expectations and are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company undertakes no obligation to update forward-looking statements except as required by applicable securities laws.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312362
Source: Eureka Metals Corp.
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XLC carries the word "communication" in its name, but the fund's actual portfolio has almost nothing to do with phone bills, fiber lines, or fat dividend checks. Before you assume you own telecom income, check what you actually hold.
Investors reaching for telecom-style income through the Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) often discover a mismatch between the name and the portfolio. XLC sits inside the S&P 500’s communication services sector, and the label suggests dividend-paying phone companies. The portfolio tells a different story. XLC is dominated by mega-cap tech and media, with Meta at 19.9% and two Alphabet share classes together accounting for another roughly 23% of net assets. If you bought XLC for reliable telecom yield, you own something closer to a growth-and-advertising fund. There is a cleaner way to get the exposure you actually wanted.
Why XLC Disappoints Income Seekers XLC holds legacy telecom names in modest sleeves: AT&T at 4.09%, Verizon at 4.14%, Comcast at 4.70%, and T-Mobile at 4.15%. The rest is Meta, Alphabet, Netflix, Electronic Arts, Take-Two, Disney, Warner Bros. Discovery, and media names. Those companies pay little or no dividend, which is why the fund’s distributable income is thin. It also explains XLC’s price action: shares are down 3.46% year to date as the ad-driven mega-caps have wobbled, while the telecom sleeve inside the fund has quietly done the heavy lifting.
For an investor who wants current yield, direct exposure to fiber and wireless convergence, and specific capital returns, the swap is straightforward: holding the three telecom-adjacent components directly isolates the yield without the tech ballast.
AT&T: Cash Flow Now Funding a Buyback Surge AT&T (NYSE:T | T Price Prediction) trades at $26.01 with a 4.36% dividend yield, roughly five times what XLC’s underlying portfolio kicks off. The payout looks well covered. Q2 2026 free cash flow reached $4.7 billion, and management reiterated $18 billion-plus in full-year free cash flow.
The capital return pace stands out. CFO Pascal Desroches said “Together, our planned share repurchases and expected dividend payments will total approximately $18 billion this year, which is essentially 100% of our outlook for free cash flow.” The buyback was pulled forward to approximately $10 billion in 2026, up from a prior $8 billion target. At a trailing P/E of 8, every dollar of repurchase removes shares cheaply. That is the mechanism XLC cannot deliver: AT&T shareholders capture 100% of the buyback impact, while XLC holders see it diluted by a 4% weight.
Verizon: The Yield Anchor With Fiber Growth Attached Verizon Communications (NYSE:VZ) offers the highest headline yield of the three at 5.65%, backed by 20 consecutive years of dividend increases. Shares are up 29.19% year to date, and the story behind that move matters. The Frontier deal closed January 20, 2026, and Verizon expects more than 32 million fiber passings by year-end. Management raised full-year adjusted EPS growth guidance to 5% to 6% and lifted the buyback authorization.
CFO Tony Skiadas said plainly, “The dividend is still ironclad for us, and we raised the dividend.” With $21.5 billion or more in full-year free cash flow guidance and a forward P/E of 10, Verizon skews toward yield first and modest growth second.
Comcast: A Cheaper Setup With an Optionality Kicker Comcast (NASDAQ:CMCSA) trades at $26.67 and a forward P/E of 8, with a 5% dividend yield. Wireless net additions of 448,000 were the best quarter on record, and Peacock reached profitability with $189 million of EBITDA. Q2 free cash flow was $4.6 billion.
Comcast paused its buyback as of July 1 pending the NBCUniversal and Sky spin-off, and adjusted EBITDA fell 13.4% year over year. The dividend continues, and holders receive shares of the standalone media company when the separation closes in roughly a year. That is optionality XLC cannot replicate.
How to Think About the Swap The three stocks together deliver a blended yield in the mid-5% range, versus the sub-1% distribution profile of XLC’s underlying holdings. You give up direct exposure to Meta, Alphabet, and Netflix, and you accept single-name risk on three balance sheets carrying meaningful debt: AT&T’s net leverage of 2.68 times is above its 2.5 times target, and Verizon sits at roughly 2.6 times. That blended yield is also close to what a mid six-figure balance needs to throw off a real monthly check (we sketched the full math for turning $250K into $1,500 a month in a free report: here). If you hold XLC in a taxable account, selling triggers capital gains. Redirecting new contributions into the three telecom names, rather than selling existing XLC shares, avoids triggering those gains.
Reading the Fit Before You Act Investors who own XLC for mega-cap tech and media exposure with a modest income tilt are getting what the fund is built to deliver. If you bought it thinking it was a telecom income vehicle, this direct trio delivers materially more yield, cleaner exposure to fiber and wireless convergence, and specific capital-return programs you can track quarter by quarter. That is a different job, and it deserves a different tool.
Contact [email protected] for any questions or corrections.
PepsiCo je po poklesu 29 % z maxima poblíž 52týdenního minima, zatímco Coca-Cola je letos o 28 % výše. PepsiCo ale dál roste: ve 2. čtvrtletí vzrostly globální objemy potravin o 3 % a nápojů o 2 %.
Judging by their stock performance, PepsiCo (PEP -0.52%) and Coca-Cola (KO -1.10%) seem like their businesses are moving in opposite directions. Shares of PepsiCo have fallen 29% from their high and are trading near a 52-week low, while Coca-Cola is up 28% year to date and sitting near new all-time highs.
Coca-Cola is clearly executing better right now, but PepsiCo is still growing volumes, revenue, and earnings. That's why the sell-off looks less like a red flag and more like a potential opportunity, especially for dividend investors.
Image source: Getty Images.
Why Coca-Cola is up, and PepsiCo down Many consumer goods companies are reporting softer demand as higher gas prices pressure household budgets. Coca-Cola has largely shrugged that off, delivering 6% year-over-year organic revenue growth last quarter, with unit case volume up a solid 5%. Better still, adjusted earnings per share climbed 11% year over year.
PepsiCo also grew organic revenue 2.4% over the year-ago quarter, slower than Coca-Cola's pace. Moreover, adjusted earnings rose just 1% and came in below Wall Street estimates, which helps explain why investors have been harder on the stock.
The difference in business models matters, too. Coca-Cola is a simpler, beverage-focused company, while PepsiCo splits its portfolio between beverages and snack foods. That structure can be a strength at times, but it also tends to produce lower margins.
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In the second quarter, Coca-Cola posted a 35% operating margin, while PepsiCo delivered 16.5%. In a choppy macroeconomic environment, investors are rewarding Coke because of its stronger sales and margins.
Why PepsiCo still looks like the better buy Coca-Cola trades at a forward price-to-earnings (P/E) multiple of 27, which appears to be a fair assessment of its brand value and financial performance. PepsiCo, however, trades at a modest 16 times forward earnings estimates -- a valuation that may be pricing in too much pessimism.
Importantly, PepsiCo is still growing. Global food volume rose 3% in the second quarter, and beverage volumes increased 2%. That's below Coca-Cola's 5% volume growth, but it's meaningful growth for PepsiCo when it's trading at a much lower forward P/E.
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Management also expects PepsiCo's North American business to improve from here -- just at a slower pace than it previously thought. PepsiCo still has a wide competitive moat based on strong brands, such as Gatorade, Quaker Oats, and Doritos, among others, and a global distribution system. Over time, investors can expect a business with these assets to compound in value.
Meanwhile, shareholders are getting paid to wait. PepsiCo has a long history of dividend growth and just raised its quarterly payout by 4% to $1.48 per share, putting the forward yield at 4.2% -- nearly twice Coca-Cola's 2.35% forward yield.
That dividend is backed by cash generation. PepsiCo produced $9.3 billion in free cash flow over the past 12 months and paid $7.8 billion in dividends.
Coca-Cola has earned its rerating. But at today's prices, PepsiCo looks like the better value.
UnitedHealth's (UNH.N) insurance unit said on Tuesday that a broad range of conditions will no longer need prior approval, effective October 1, as it aims to eliminate prior authorization for 30% of healthcare services by the end of this year.
Here are the details:
The reduction spans a broad mix of services across multiple clinical specialties, including cardiology, genetic and laboratory testing, chiropractic care, physical, occupational and speech therapy, orthopedic and musculoskeletal procedures, among others.
The prior authorization requirements are being eliminated across its commercial plans, Medicare Advantage for older adults and individual insurance under the Affordable Care Act, also known as Obamacare, and some other types of plans.
Health insurers have been taking measures to simplify their requirements for prior authorization on medicines and medical services after complaints from patients and doctors over excessive paperwork that can delay or even deny needed care.
The actions are designed to reduce unnecessary paperwork, make information easier to understand and allow patients and care providers more time to focus on care, UnitedHealthcare said.
The company is also reducing administrative requirements for eligible rural hospitals and affiliated providers through a rural prior authorization waiver program scheduled to begin on November 1.
UnitedHealthcare is speeding payments by up to 50% for about 1,400 rural hospitals and Critical Access Hospitals in the third quarter.
Novartis oznámil, že experimentální tableta remibrutinib uspěla v pozdních fázích klinického vývoje u roztroušené sklerózy a snížila relapsy i mozkové léze ve srovnání s teriflunomidem. Akcie v Curychu po zprávě vzrostly až o 5,6 %.
Farmaceutický gigant Novartis oznámil slibné výsledky pozdních klinických studií svého experimentálního léku remibrutinib určeného k léčbě roztroušené sklerózy (RS). Podle společnosti pacienti užívající tento přípravek vykazovali nižší počet relapsů onemocnění i menší rozsah mozkových lézí než nemocní léčení zavedeným přípravkem teriflunomid. Akcie kótované v Curychu reagovaly na zprávu růstem až o 5,6 procenta.
Podle Novartisu byl lék také efektivní v tom, že během studií nebyly zaznamenány známky jaterní toxicity, která bývá u některých podobných terapií sledovaným rizikem.
Úspěch remibrutinibu (ve formě pilulky) by mohl švýcarskému výrobci otevřít cestu k novému perorálnímu léku na roztroušenou sklerózu a současně rozšířit jeho portfolio navazující na úspěšnou značku Kesimpta.
Výsledky jsou zároveň důležitým signálem pro celou skupinu takzvaných BTK inhibitorů, tedy léků zaměřených na omezení nežádoucí aktivity imunitního systému. Některé konkurenční projekty vyvíjené společnostmi Sanofi a Merck KGaA totiž v pokročilých studiích nedokázaly prokázat lepší výsledky než již zavedený teriflunomid.
„Výsledky jsou dobrou zprávou pro pacienty i Novartis,“ řekl Bloombergu Stefan Schneider, analytik společnosti Vontobel a poukázal právě na trnitou historii inhibitorů BTK u roztroušené sklerózy. Na základě nových dat zároveň snížil rizikovou přirážku (z 50 % na 20 %) ve svém odhadu maximálních ročních tržeb léku, které nadále odhaduje přibližně na jednu miliardu dolarů.
Roztroušená skleróza je chronické autoimunitní onemocnění postihující mozek a míchu. Nemoc může vést k široké škále fyzických, psychických i kognitivních obtíží a její průběh bývá velmi individuální. Podle odhadů americké organizace National Multiple Sclerosis Association s ní po celém světě žije 2,9 milionu lidí.
Novartis nyní plánuje zahájit registrační procesy na hlavních světových trzích. Podrobnější výsledky klinických studií mají být zveřejněny na odborném lékařském kongresu v Torontu ještě během letošního roku. Remibrutinib už je v současnosti schválen ve Spojených státech i Evropě pro léčbu chronické spontánní kopřivky.
Úmrtí pacientů v jiném programu
Vedle pozitivních zpráv však firma současně informovala o komplikacích v jiném vývojovém programu. Novartis dočasně zastavil nábor a léčbu pacientů ve studiích experimentální buněčné terapie rapcabtagene autoleucel (rap-cel neboli YTB323) určené pro autoimunitní onemocnění. Důvodem jsou tři úmrtí pacientů, která firma nyní vyhodnocuje z hlediska bezpečnosti.
U postižených pacientů se objevily závažné reakce spojené se syndromem IEC-HS, známou komplikací některých CAR-T buněčných terapií. Tento stav může vést k život ohrožujícím zánětlivým reakcím organismu.
Micron a SanDisk v předobchodní fázi oslabily, protože nové známky pokroku čínských výrobců pamětí znovu vyvolaly obavy z konkurence. Micron byl dolů asi 1,9 % a SanDisk zhruba 3 %.
Micron Technology and SanDisk stocks slipped in premarket trading on Tuesday as fresh evidence of China’s progress in memory chips revived concerns about competition.
Micron was down about 1.9% before the bell, while SanDisk fell roughly 3%. Both stocks entered September after 2026 gains driven by AI spending, tight supply and memory prices.
The immediate concern is ChangXin Memory Technologies, or CXMT, which has begun producing small quantities of HBM3E.
CXMT’s progress matters because high-bandwidth memory has become critical to AI computing.
The Chinese company is producing HBM3E in small quantities and plans to expand output in 2027.
Alibaba’s T-Head and Cambricon are testing the memory alongside their processors, with potential adoption next year if testing succeeds.
Micron, Samsung Electronics and SK Hynix are already moving into HBM4, leaving CXMT behind the leaders. Production scale and yields also remain hurdles, as Micron has been shipping HBM4 in volume since the first quarter.
That is why Bank of America analyst Vivek Arya remains bullish on Micron. TipRanks reported that Arya sees “limited competition” from CXMT in advanced AI memory because the Chinese supplier remains more exposed to consumer and commodity DRAM.
BofA retained a Buy rating and a $1,550 price target on Micron.
The risk is not that CXMT suddenly displaces Micron, but China is moving from lower-value memory into products generating the industry’s strongest margins.
For SanDisk, the more direct competitive issue is NAND flash.
Yangtze Memory Technologies, or YMTC, captured about 14% of global NAND bit shipments in the second quarter, according to Counterpoint Research, placing it third by shipment volume.
YMTC is targeting the top spot globally by the end of 2027 and is seeking 33 billion yuan, or about $5 billion, in an IPO to fund production upgrades and research.
That matters because additional NAND supply can influence global pricing even if Chinese producers remain restricted in the US.
Citi analyst Atif Malik has called Chinese capacity additions the biggest long-term risk to the memory thesis.
The analyst expects “both DRAM and NAND prices decelerating Q/Q in the next four quarters,” with prices potentially peaking around the second quarter of 2027.
This is a key issue for SanDisk investors. YMTC does not need to dominate enterprise storage to affect the broader NAND market.
Current fundamentals remain more supportive than the China angle suggests.
Mizuho said in an August research note that memory remains the “key bottleneck” in the semiconductor supply chain as aggregate DRAM demand rises.
The firm maintained Outperform ratings on Micron and SanDisk, with targets of $1,300 and $1,875.
There is also a reminder from last month’s selloff. When Micron and SanDisk dropped on reports that Apple could eventually source Chinese memory, Lynx Equity Research analyst KC Rajkumar called the reaction “an overreaction,” according to Investing.com.
Rajkumar pointed to supply constraints and customer qualification hurdles limiting the immediate threat from Chinese suppliers.
That distinction remains important. CXMT’s HBM3E output is still small, while Micron and its global peers are advancing into HBM4. YMTC has gained meaningful NAND volume, but remains more exposed to lower-value products than established rivals.
Britský regulátor pozastavil společnosti Amgen prodej Tavneosu novým pacientům kvůli nespolehlivým datům z klíčové studie. Schválení v Británii chce zrušit 1. března 2027.
Britain's medicines regulator on Tuesday suspended the use and sale of Amgen's (AMGN.O) rare-disease drug, Tavneos, to new patients, saying the main study supporting its approval was unreliable.
The drug, sold as Avacopan Vifor in Britain by CSL Vifor, is used with other medicines to treat severe autoimmune diseases that cause inflammation in small blood vessels and can damage the kidneys and lungs.
The regulator said unreliable data from the main trial meant the study could no longer prove the drug worked or that its benefits outweighed the risks. It plans to revoke the UK approval on March 1, 2027.
Patients already receiving the drug can continue for six months, while doctors consider alternatives, the regulator said, adding that it has advised patients not to stop treatment without consulting a specialist.
Tavneos was developed by ChemoCentryx, which Amgen acquired for $3.7 billion in 2022. Amgen holds the U.S. rights, while CSL Vifor holds commercial rights in selected markets outside the U.S., including Britain.
The European Commission revoked Tavneos' approval in August after regulators found the key trial data unreliable. The U.S. FDA has also proposed withdrawing the drug, citing unproven effectiveness and false statements in the original application.
Amgen is challenging the proposed U.S. withdrawal and has submitted more than 70 studies involving over 2,200 patients.
An independent review found Tavneos matched steroid-based treatment at 26 and 52 weeks, but did not confirm that it was better at 52 weeks. The U.S. FDA has also linked Tavneos to 76 cases of serious liver injury, including eight deaths.
Medtronic oznámil strategickou investici do Pi-Cardia až za 80 milionů USD a získá opci na převzetí firmy za odhadovaných až 210 milionů USD. Zároveň má být od roku 2027 výhradním globálním distributorem zařízení ShortCut pro komplexní TAVR.
, /PRNewswire/ -- Medtronic plc (NYSE: MDT), a global leader in healthcare technology, and Pi-Cardia Ltd., a pioneer in leaflet modification technologies for structural heart disease, today announced a strategic investment by Medtronic in Pi-Cardia Ltd. With a focus on addressing the evolving needs of increasingly complex transcatheter aortic valve replacement (TAVR) patients and procedures, Medtronic secures an option for strengthening its structural heart portfolio through this strategic investment, supporting the next generation of innovation.
Pi-Cardia ShortCut™ Device Pi-Cardia's ShortCut™ device is the first FDA-cleared leaflet modification technology designed to enable valve-in-valve TAVR procedures in patients at risk of coronary obstruction. The device provides physicians with a safe, easy-to-learn, reproducible approach to leaflet modification that can help preserve coronary access and enable future transcatheter valve procedures. In FDA-reviewed clinical studies, ShortCut™ demonstrated successful leaflet splitting in all pivotal trial patients and a favorable safety profile.
"As structural heart care evolves, we're investing in technologies that help physicians address today's challenges while preparing for tomorrow's opportunities," said Jorie Soskin, vice president and general manager of the Structural Heart business within Medtronic's Cardiovascular portfolio. "Our investment in Pi-Cardia reflects our commitment to building a portfolio of technologies that will shape the future of TAVR, particularly for patients with complex anatomy. We believe leaflet modification technologies like ShortCut have the potential to become an important component of structural heart care and the future of TAVR as transcatheter therapies continue to advance."
Under the agreement, Medtronic will make strategic investments of up to $80 million into Pi-Cardia and is expected to become the exclusive global commercial distributor of the ShortCut device in 2027. Medtronic will leverage its worldwide Structural Heart organization to expand physician access across the United States, Europe, Japan and other international markets. The agreement also includes an option for Medtronic to acquire Pi-Cardia upon achievement of predefined milestones for an estimated upfront acquisition price of up to $210 million, subject to customary adjustments, plus additional potential earn-out payments post-acquisition that could meaningfully increase the total consideration. The transactions are subject to regulatory approval and customary closing conditions.
"Our mission has been to make leaflet modification a standard part of complex TAVR," said Erez Golan, Chief Executive Officer of Pi-Cardia. "Medtronic is the right partner to help us achieve this vision given their global reach and commitment to bringing innovative tools to physicians and patients worldwide. We are confident this collaboration will accelerate adoption of ShortCut while continuing to advance the future of leaflet modification."
The strategic investment secures an option for Medtronic to strengthen its structural heart portfolio by adding a first-of-its-kind technology that addresses a significant challenge in valve-in-valve TAVR while complementing the company's leadership in transcatheter valve therapies. It also reflects Medtronic's commitment to partnering and investing early in innovations that can improve patient outcomes, expand future treatment options, and support long-term growth.
Pi-Cardia was founded by Erez Golan and Eyal Kolka, and is backed by experienced medtech investors including Sofinnova Partners, Sprig Equity, and Jacques Séguin, whose commitment has helped advance the company's vision of developing transformative leaflet modification technologies.
About Pi-Cardia
Pi-Cardia Ltd. is a privately held medical device company dedicated to developing innovative structural heart technologies that address unmet clinical needs. Its proprietary leaflet modification platform is designed to improve procedural outcomes and expand treatment options for patients undergoing transcatheter valve interventions.
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 employees dedicated to transforming healthcare and improving lives around the world.
Contacts:
Kimberly Powell
Public Relations
+1-202-498-2601
Ingrid Goldberg
Investor Relations
+1-763-505-2696
Broadcom stock has dropped to a crucial support level, and the upcoming earnings report will help to determine whether the recent retreat will continue or whether the shares will rebound. AVGO trades at $370, down by 25% from its highest point this year.
Broadcom has become one of the biggest technology companies globally, with its market capitalization soaring to over $1.7 trillion. It owns top companies like VMware, CA Technologies, Symantec, and Broadcom Communications.
The company has emerged as a major player in the artificial intelligence industry, driven by a growing network of strategic partnerships. Most recently, it unveiled Jalapeño, a custom chip developed for OpenAI, which reportedly outperformed Nvidia’s chips in certain performance benchmarks.
Broadcom counts the biggest companies in the world, including large names like Apple, Alphabet, Anthropic, and Microsoft. These partnerships, together with its acquisitions, have helped its revenue continue rising. Its annual revenue has jumped from $27.5 billion in 2021 to $75.4 billion in the trailing twelve months.
The most recent results showed that Broadcom’s revenue jumped by 48% in the second quarter of the year to over $22.18 billion. This growth was driven by a 143% YoY gain from its AI semiconductor business.
All signs are that the company’s business continued growing in the third quarter as the artificial intelligence spending accelerated. All of its top customers published strong numbers and guidance.
For example, Apple announced strong financial results, and this growth may continue as it launches a new foldable phone. Also, companies like Google and Amazon all committed to keep spending.
Yahoo Finance data shows that analysts expect the upcoming results to show that its revenue soared by 84% last quarter to $29 billion. Its earnings-per-share (EPS) is also expected to move from $1.69 in Q3’25 to $3.24. Broadcom has a long record of doing better than expected.
Analysts are highly optimistic about Broadcom, with most who track it having a bullish outlook. Royal Bank of Canada has a target of $400, while BMO has a target of $455. The most optimistic analyst is from Evercore who sees the shares jumping to $582, up sharply from where it is today. In a statement this week, BakerAvenue’s King Lip called Broadcom a top pick ahead of its earnings.
The main issue, however, is that Broadcom’s valuation has become quite expensive, meaning that it will need to announce a big beat and raise, and possibly, a bigger buyback.
The company trades with a forward price-to-earnings ratio of 31.7, higher than the sector median of 22.6. Its multiple is also higher than the five-year average. It is also higher than that of other technology companies like Nvidia and Micron.
Broadcom stock | Source: TradingView
The daily chart shows that the AVGO stock peaked at $494 in June and formed an abandoned baby pattern. This pattern is usually one of the most common bearish reversal signs in technical analysis.
The stock has now plunged and found a strong support level of $356, its lowest level on July 2nd and August 26. This could be a sign that it has formed a double-bottom pattern, a common bullish reversal sign. This support is also along the 61.8% Fibonacci Retracement level and the 200-day moving average.
Therefore, the stock will likely bounce back in the coming days, potentially to the psychological level of $400.
SpaceX a AST SpaceMobile tlačí satelitní mobilní sítě, ale článek tvrdí, že neohrozí husté městské pokrytí ani cash flow věžových REITů. Crown Castle a American Tower mají zůstat oporou díky fyzickým limitům orbitálních sítí.
The direct-to-device space economy entered a new competitive phase in August 2026.
SpaceX Today
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SpaceX NASDAQ: SPCX formally outlined ambitions to challenge telecom giants with Starlink Mobile, while competitors race to get their own satellite arrays ready for consumer availability.
This escalation naturally raises questions about the future of traditional ground infrastructure. If cellular coverage blankets the globe from low-Earth orbit, investors rightly wonder whether the steel towers anchoring modern telecommunications will face sudden obsolescence.
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The market has occasionally punished earthbound telecom stocks on the premise of satellite disruption. Beneath the headlines, however, lies a harsh physical and financial reality. The physics of bandwidth and the capital required to replicate urban network density suggest a very different outcome.
Ground-level macro towers are not being replaced; they are being complemented. By examining the limitations of space-based networks, a clear picture emerges of why terrestrial incumbents maintain a moat over satellite challengers.
Orbital Telecom Vs. Terrestrial YieldsThe telecommunications sector is experiencing a structural shift as orbital assets come online. Translating that shift into portfolio strategy requires looking past the launch hype and focusing heavily on capital allocation and network physics.
Firing the First Shot in the Satellite Telecom WarThe timeline for space-based cellular is accelerating as we approach the end of summer. During a highly anticipated August 2026 earnings call, SpaceX management detailed plans for a competitive terrestrial network.
The primary goal is to leverage Starlink's expanding orbital footprint to beam connectivity directly to unmodified consumer smartphones worldwide. This builds on the approximately $19.6 billion mid-band spectrum acquisition SpaceX made from EchoStar, transitioning the aerospace firm from shared spectrum agreements to owning exclusive bandwidth.
SpaceX is not alone in this orbital land grab. AST SpaceMobile NASDAQ: ASTS recently deployed its latest BlueBird satellites, securing a targeted fourth-quarter commercial launch alongside US Mobile. These technological milestones successfully address the rural coverage divide, a persistent headache for legacy carriers.
Beaming a signal from space easily connects a hiker in Wyoming or a rural farming operation. The disruption narrative currently weighing on the market suggests these deployments will eventually bleed into high-density suburban and urban markets, eating into the core market share of ground-based operators.
The $130 Billion Reality CheckProviding text messages to remote areas is a solved problem. Streaming high-definition video in a packed metropolitan stadium via satellite is an entirely different physics equation. Low-Earth orbit satellites face severe spectrum constraints and signal degradation when attempting to penetrate urban foliage, thick concrete buildings, and severe weather systems.
Bank of America NYSE: BAC recently issued a decisive defense of legacy infrastructure, noting that SpaceX's proposed network topology would be difficult to scale for high-density capacity. The company has proposed consumer-mounted femtocells to bypass standard towers. The financial barrier to scaling this technology, however, would be steep. Bernstein analysts estimate that building a standalone mobile network to rival existing carriers would require roughly $50 billion to $130 billion in capital expenditures.
To replicate the dense capacity of existing outdoor networks without traditional cell towers, operators would theoretically need hundreds of millions of micro-receivers scattered across the country. Satellite telecom is poised to act as a crucial, highly profitable complementary layer designed to close global dead zones. However, it currently lacks the physical capacity to carry the terabytes of data generated by urban centers without macro-tower power, heavy fiber backhaul, and established municipal permitting.
Crown Castle's 5.6% Yield Is Hiding in Plain SightThis physical limitation creates a highly favorable environment for restructured terrestrial operators. Crown Castle NYSE: CCI recently executed a fundamental pivot, selling its fiber and small-cell segments to EQT Holdings and Zayo for approximately $8.5 billion. By shedding these capital-intensive divisions, Crown Castle transformed back into a pure-play United States macro tower real estate investment trust (REIT).
Crown Castle Today
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Management used this strategic divestiture to reset Crown Castle's capital allocation framework. The annualized dividend was adjusted to roughly $4.25 per share, establishing a highly sustainable adjusted funds from operations payout ratio of around 75% to 80%. Currently trading near $76, the stock offers an estimated 5.6% yield.
Recent intrinsic value models suggest Crown Castle trades at a severe discount, approaching 33% below discounted cash flow estimates. The market has temporarily mispriced the REIT due to the combination of its dividend reset and misplaced fears regarding satellite disruption. For value-oriented investors, Crown Castle represents a streamlined infrastructure asset operating securely within a well-established moat.
American Tower's Defensive EdgeWhile Crown Castle focuses entirely on the domestic market, American Tower NYSE: AMT leverages its global footprint and strategic balance sheet management to defend its position. Recognizing shifting macroeconomic headwinds in emerging markets in early 2024, American Tower management decided to temporarily pause its long-running streak of aggressive dividend growth.
American Tower Today
AMT
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That period of financial conservatism proved strictly temporary. American Tower resumed its dividend growth trajectory in March 2025, bumping the quarterly payout to $1.70 per share. As of March 2026, the cash distribution was raised further to $1.79 per share. With shares currently trading around $176, this renewed dividend expansion signals management’s confidence in the underlying business model, shrugging off the perceived threat of orbital telecom disruption.
By deleveraging during that 2024 pause, American Tower created the financial flexibility required to absorb incoming capital expenditure demands.
The enterprise is actively investing in edge computing data centers situated at the base of its existing cell towers.
This edge strategy acts as a direct hedge against localized telecom disruption. As artificial intelligence applications demand lower latency and higher processing power at the local level, American Tower is transforming its real estate into decentralized computing hubs. This evolution helps ensure that American Tower remains indispensable to modern data transmission, regardless of whether a signal originates from a nearby cell phone or a low Earth orbit satellite.
Positioning Portfolios for the Telecom Infrastructure ShiftThe commercialization of space-based mobile networks is an undeniable technological triumph. Companies launching these satellites will likely generate substantial revenue by connecting the most remote regions of the world and partnering with existing telecom giants to fill coverage gaps.
However, the terrestrial cell tower remains the undisputed backbone of global, high-density telecommunications. The physical necessity of ground-level power, fiber connections, and raw localized bandwidth protects the cash flows of incumbent tower operators.
Investors may want to monitor pure-play tower REITs such as Crown Castle and diversified operators such as American Tower, as their current valuations appear disconnected from the enduring reality of their infrastructure moats. Evaluating these equities during periods of satellite-driven market noise could provide a strategic entry point before the market fully prices in the limitations of orbital bandwidth.
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Stoke Therapeutics a Biogen oznámily, že čtyřletá data podporují potenciál zorevunersenu u Dravetova syndromu: přetrvaly zlepšení kognice a chování spolu s trvalým snížením četnosti záchvatů.
–4-year data from the Phase 1/2a open-label extension (OLE) studies support the potential disease-modifying effects of zorevunersen–
–Improvements in cognition and behavior sustained through 4 years, in addition to durable seizure reductions and a generally well-tolerated safety profile–
–New data from sub-analyses of patients treated with zorevunersen in the Phase 1/2a OLEs include effects on severe seizures and quality of life–
BEDFORD, Mass. and CAMBRIDGE, Mass., Sept. 01, 2026 (GLOBE NEWSWIRE) -- Stoke Therapeutics, Inc. (Nasdaq: STOK), a biotechnology company dedicated to restoring protein expression by harnessing the body’s potential with RNA medicine, and Biogen Inc. (Nasdaq: BIIB) today announced presentations of data at the 16th European Epilepsy Congress (EEC), taking place September 5–9 in Athens, Greece. These data support the potential of zorevunersen as a first-in-class disease-modifying treatment for Dravet syndrome. The global, pivotal Phase 3 EMPEROR study is underway to evaluate the safety and efficacy of zorevunersen, and results are anticipated in the third quarter of 2027.
Data to be shared at EEC include the first medical meeting presentation of 4-year results from the ongoing Phase 1/2a open-label extension (OLE) studies of zorevunersen in patients with Dravet syndrome. Improvements in cognition and behavior were sustained through 4 years, in addition to durable seizure reductions and a generally well-tolerated safety profile. New exploratory sub-analyses show effects on the most severe seizure types, which are the leading risk factor for sudden unexpected death in epilepsy (SUDEP)1, as well as improvements in quality of life for patients treated with zorevunersen.
"Together with the Phase 1/2a results, the ongoing OLE studies provide more than 5 years of clinical data that continue to deepen our understanding of zorevunersen’s long-term safety and benefits,” said Barry Ticho, M.D., Ph.D., Chief Medical Officer of Stoke Therapeutics. “These data have consistently shown substantial and durable seizure reductions with continued treatment. For the first time at EEC, we will share an additional analysis showing zorevunersen’s effects on the most severe seizure types. Alongside continuing improvements in cognition and behavior over time, these new findings support the potential of zorevunersen to change the course of Dravet syndrome by targeting the underlying genetic cause of the disease.”
“Dravet syndrome is a devastating neurodevelopmental disease that impacts nearly every aspect of daily life for patients and those who care for them,” said Stephanie Fradette, Pharm.D., Head of the Rare Neurology Development Unit at Biogen. “The data shared at EEC provide continued support for the potential of zorevunersen to give people living with Dravet syndrome the possibility of more neurotypical development. We look forward to discussing these data with the epilepsy community at EEC.”
Details of the EEC presentations are as follows:
Title: Zorevunersen Demonstrates Disease-Modifying Potential in Patients with Dravet Syndrome with Improvements in Seizure Burden, Quality of Life, and Overall Clinical Status
Oral Presentation Date & Time: Sunday, September 6, 12:53-1:02 PM EEST/ UTC+3 (5:53-6:02 AM ET)Oral Presenter: J. Helen Cross, MB ChB, Ph.D., Professor, The Prince of Wales’s Chair of Childhood Epilepsy and Head of the Developmental Neuroscience Programme at University College London Great Ormond Street Institute of Child Health, Honorary Consultant in Paediatric Neurology and Past President of the International League Against Epilepsy Title: Zorevunersen Demonstrates Potential as a Disease-Modifying Therapy in Patients with Dravet Syndrome: A Matching-Adjusted Indirect Comparison Between Natural History and Patients Receiving Zorevunersen
Poster Presentation Date & Time: Monday, September 7, 2:00-3:00 PM EEST/ UTC+3 (7:00-8:00 AM ET)Poster Presenter: Andreas Brunklaus, MD, Consultant Paediatric Neurologist at the Royal Hospital for Children in Glasgow, Honorary Professor at the University of Glasgow
Poster Number: P0803 Title: Zorevunersen Demonstrates Potential as a Disease-Modifying Therapy in Patients with Dravet Syndrome Through Durable Seizure Reduction and Improvements in Cognition, Behavior, and Quality of Life Through 48 Months of Treatment in Open-Label Extension Studies
Poster Presentation Date & Time: Tuesday, September 8, 2:00-3:00 PM EEST/ UTC+3 (7:00-8:00 AM ET)Poster Presenter: Elaine Wirrell, MD, Director of Pediatric Epilepsy at Mayo Clinic, Director of the Child and Adolescent Neurology Residency Training Program at Mayo Clinic
Poster Number: P0797 Summary of Zorevunersen Safety Data
Following treatment in the Phase 1/2a studies, 93% (75/81) patients continued treatment in one of two OLE studies. As of the 4-year data cutoff, 77% (58/75) patients remained in these studies.Zorevunersen continues to be generally well tolerated, with some patients treated for more than 5 years in the Phase 1/2a and ongoing OLE studies. As of July 31, 2026, more than 930 doses have been administered.Elevated CSF protein lab values occurred in approximately 94% of patients of which 59% have been classified as a treatment-emergent adverse event. Importantly, no serious or severe clinical manifestations have been associated with CSF protein elevations. There have been no reports of hydrocephalus. About Dravet Syndrome
Dravet syndrome is a severe developmental and epileptic encephalopathy (DEE) characterized by recurrent seizures as well as significant cognitive and behavioral impairments. Most cases of Dravet are caused by mutations in one copy of the SCN1A gene, leading to insufficient levels of NaV1.1 protein in neuronal cells in the brain. Even when treated with the best available anti-seizure medicines (ASMs), up to 57 percent of patients with Dravet syndrome do not achieve ≥50 percent reduction in seizure frequency. Complications of the disease often contribute to a poor quality of life for patients and their caregivers. Developmental and cognitive impairments often include intellectual disability, developmental delays, movement and balance issues, language and speech disturbances, growth defects, sleep abnormalities, disruptions of the autonomic nervous system and mood disorders. Compared with the general epilepsy population, people living with Dravet syndrome have a higher risk of sudden unexpected death in epilepsy, or SUDEP; up to 20 percent of children and adolescents with Dravet syndrome die before adulthood due to SUDEP, prolonged seizures, seizure-related accidents or infections 2. Dravet syndrome occurs globally and is not concentrated in a particular geographic area or ethnic group. Currently, it is estimated that up to 38,000 people are living with Dravet syndrome in the U.S. (~16,000), UK, EU-4 and Japan 3. There are no approved disease-modifying therapies for people living with Dravet syndrome.
About Zorevunersen
Zorevunersen is an investigational antisense oligonucleotide that is designed to treat the underlying cause of Dravet syndrome by increasing functional NaV1.1 protein production in brain cells from the unaffected (wild-type) copy of the SCN1A gene. This highly differentiated mechanism of action aims to reduce seizure frequency beyond what has been achieved with anti-seizure medicines and to improve neurodevelopment, cognition and behavior. Zorevunersen has demonstrated the potential for disease modification and has been granted orphan drug designation by the FDA and the EMA. The FDA has also granted zorevunersen rare pediatric disease designation and Breakthrough Therapy Designation for the treatment of Dravet syndrome with a confirmed mutation not associated with gain-of-function in the SCN1A gene, and China’s Center for Drug Evaluation has granted zorevunersen Breakthrough Therapy Designation. Stoke has a strategic collaboration with Biogen (Nasdaq: BIIB) to develop and commercialize zorevunersen for Dravet syndrome. Under the collaboration, Stoke retains exclusive rights for zorevunersen in the United States, Canada, and Mexico; Biogen receives exclusive rest of world commercialization rights. Zorevunersen is currently in clinical development, and its safety and efficacy have not been evaluated by any regulatory authority.
About the Phase 1/2a and Open-Label Extension Studies
Two Phase 1/2a open-label, multicenter studies evaluated the effects of zorevunersen in patients with highly refractory Dravet syndrome ages 2 to 18 years (N=81). Primary endpoints were the safety profile, plasma pharmacokinetics (PK) and exposure in cerebrospinal fluid (CSF) of single and multiple doses of zorevunersen. Secondary endpoints included percentage change from baseline in major motor seizure frequency, overall clinical status (a measure of patients’ overall functioning) and quality of life. The ADMIRAL Phase 1/2a study included an exploratory endpoint to evaluate changes in neurodevelopmental status (cognition & behavior) as measured by Vineland Adaptive Behavior Scales, Third Edition (Vineland-3). The Phase 1/2a studies were completed in November 2023. Following treatment in the Phase 1/2a studies, eligible patients continued treatment with zorevunersen every four months in one of two OLEs. There was at least a 6-month gap between the last dose administered in the Phase 1/2a studies and the first dose administered in the OLEs. The primary endpoints are the safety profile of multiple doses of zorevunersen. Secondary endpoints include PK parameters, percentage change from baseline in major motor seizure frequency, change in overall clinical status, and change from baseline in quality of life. Exploratory endpoints include changes in neurodevelopment status as measured by Vineland-3. Results from the Phase 1/2a and OLE studies were published in The New England Journal of Medicine (NEJM) in March 2026. The OLE studies are ongoing.
About Stoke Therapeutics
Stoke Therapeutics (Nasdaq: STOK), is a biotechnology company dedicated to restoring protein expression by harnessing the body’s potential with RNA medicine. Using Stoke’s proprietary TANGO (Targeted Augmentation of Nuclear Gene Output) approach, Stoke is developing antisense oligonucleotides (ASOs) to selectively restore naturally-occurring protein levels. Stoke’s first medicine in development, zorevunersen, has demonstrated the potential for disease modification in patients with Dravet syndrome and is currently being evaluated in a Phase 3 study. Stoke’s initial focus are diseases of the central nervous system and the eye that are caused by a loss of ~50% of normal protein levels (haploinsufficiency). Proof of concept has been demonstrated in other organs, tissues, and systems, supporting broad potential for Stoke’s proprietary approach. Stoke is headquartered in Bedford, Massachusetts. For more information, visit https://www.stoketherapeutics.com/ or follow us on LinkedIn.
About Biogen
Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patients’ lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth. We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media - Facebook, Instagram, LinkedIn, X, YouTube.
Stoke Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: the ability of zorevunersen to treat the underlying causes of Dravet syndrome and reduce seizures or show improvements in behavior and cognition at the indicated dosing levels or at all; the potential benefits, safety and efficacy of zorevunersen; the design, timing and expected progress of clinical trials, data readouts, regulatory meetings, regulatory decisions and other presentations; and the participation of scientists associated with Stoke making presentations at EEC and the presentation of data at EEC. Statements including words such as “plan,” “potential,” “will,” “continue,” “expect,” or similar words and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they prove incorrect or do not fully materialize, could cause Stoke’s results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, risks and uncertainties related to: Stoke’s ability to advance, obtain regulatory approval and ultimately commercialize its product candidates; that if Biogen were to breach or terminate the collaboration, Stoke would not obtain the anticipated financial or other benefits; the possibility that Stoke and Biogen may not be successful in their development of zorevunersen and that, even if successful, they may be unable to successfully commercialize zorevunersen; positive results in a clinical trial may not be replicated in subsequent trials or successes in early stage clinical trials may not be predictive of results in later stage trials; Stoke’s ability to protect its intellectual property; Stoke’s ability to fund development activities and achieve development goals into 2028; and the other risks and uncertainties described under the heading “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2025, its quarterly reports on Form 10-Q, and the other documents it files with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and Stoke undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.
Biogen Safe Harbor
This news release contains forward-looking statements, including, among others, relating to: the potential clinical effects of zorevunersen; the potential for zorevunersen to change the course of Dravet syndrome and improve outcomes for patients; the expected timing of Phase 3 study results; the potential benefits, safety and efficacy of zorevunersen; potential regulatory discussions, submissions and approvals and the timing thereof; the treatment of the underlying causes of Dravet syndrome; the anticipated benefits, risks and potential of Biogen's collaboration arrangements with Stoke Therapeutics; the potential of Biogen's commercial business and pipeline programs, including zorevunersen; and risks and uncertainties associated with drug development and commercialization. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “hope,” “intend,” “may,” “objective,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “prospect,” “should,” “target,” “will,” “would” or the negative of these words or other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements. Given their forward-looking nature, these statements involve substantial risks and uncertainties that may be based on inaccurate assumptions and could cause actual results to differ materially from those reflected in such statements.
These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. Given their nature, we cannot assure that any outcome expressed in these forward-looking statements will be realized in whole or in part. We caution that these statements are subject to risks and uncertainties, many of which are outside of our control and could cause future events or results to differ materially from those stated or implied in this document, including, among others, uncertainty of our long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; expectations, plans, prospects and timing of actions relating to product approvals, approvals of additional indications for our existing products, sales, pricing, growth, reimbursement and launch of our marketed and pipeline products; the potential impact of increased product competition in the biopharmaceutical and healthcare industry, as well as any other markets in which we compete, including increased competition from new originator therapies, generics, prodrugs and biosimilars of existing products and products approved under abbreviated regulatory pathways; our ability to effectively implement our corporate strategy; difficulties in obtaining and maintaining adequate coverage, pricing, and reimbursement for our products; the drivers for growing our business, including our dependence on collaborators and other third parties for the development, regulatory approval, and commercialization of products and other aspects of our business, which are outside of our full control; risks related to commercialization of biosimilars, which is subject to such risks related to our reliance on third-parties, intellectual property, competitive and market challenges and regulatory compliance; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; and the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov.
These statements speak only as of the date of this press release and are based on information and estimates available to us at this time. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. Investors are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and in our subsequent reports on Form 10-Q. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements whether as a result of any new information, future events, changed circumstances or otherwise.
Biogen Digital Media Disclosure
From time to time, we have used, or expect in the future to use, our investor relations website (investors.biogen.com), the Biogen LinkedIn account (linkedin.com/company/biogen-) and the Biogen X account (https://x.com/biogen) as a means of disclosing information to the public in a broad, non-exclusionary manner, including for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). Accordingly, investors should monitor our investor relations website and these social media channels in addition to our press releases, SEC filings, public conference calls and websites, as the information posted on them could be material to investors.
References:
Beniczky, S. et al. Updated classification of epileptic seizures: Position paper of the International League Against Epilepsy. Epilepsia. 2025; 1804–1823.Symonds, J. et al. Early childhood epilepsies: epidemiology, classification, aetiology, and socio-economic determinants. Brain. 2021;144(9):2879-2891.Based on Stoke Therapeutics’ preliminary estimates, which scaled annual incidence to prevalence using country-specific live birth rates over the past 85 years and adjusted for Dravet-specific mortality. The estimate is based on incidence rates published by Wu et al., Pediatrics, 2015.
The single global Phase 3 trial, ArMaDa3 (NCT07770828), is the first pivotal gene therapy trial in geographic atrophy (GA)U.S. Food and Drug Administration (FDA) granted OCU410 Regenerative Medicine Advanced Therapy (RMAT) designation, providing enhanced agency engagement throughout development and eligibility for accelerated approval and priority reviewPhase 3 design fully aligned with FDA; Biologics License Application (BLA) filing anticipated in 2028OCU410 is designed as a one-time subretinal gene therapy that addresses multiple disease pathways, offering a differentiated approach from approved complement inhibitors in the U.S. which address individual disease pathways and require ongoing intravitreal injections MALVERN, Pa., Sept. 01, 2026 (GLOBE NEWSWIRE) -- Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN), a pioneering biotechnology leader in gene therapies for blindness diseases, today announced that the first patient was dosed in the global Phase 3 registrational trial of OCU410 (AAV5-hRORA), its first-in-class modifier gene therapy candidate for GA secondary to dry age-related macular degeneration (dAMD). The Company also highlighted the recent FDA RMAT designation for OCU410, which supports a potential accelerated development and review pathway for the program.
“Dosing the first patient in our global Phase 3 trial, just weeks after receiving RMAT designation, marks a defining moment for the OCU410 program – and for the millions of people living with geographic atrophy. Outside the U.S., there are currently no approved treatments for GA, while in the U.S., available treatment options address only one of the four disease pathways and require ongoing, repeated eye injections,” said Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-Founder of Ocugen. “This is our third modifier gene therapy program to advance into late-stage development, demonstrating the strength of our platform and our vision for potentially delivering a one-time treatment for life.”
The initiation of dosing follows the successful completion of a Type B End-of-Phase 2 (EOP2) meeting with FDA’s Center for Biologics Evaluation and Research (CBER) in July 2026, resulting in alignment on all critical Phase 3 design elements, including primary and secondary endpoints, dose, adaptive design, and a single pivotal trial pathway to support a BLA.
“We are entering a global single Phase 3 with a well-defined program: a dose validated in a randomized, controlled Phase 2 study; an FDA-endorsed primary endpoint measuring the rate of lesion growth; and a secondary endpoint assessing functional vision,” said Mohamed Genead, MD, Chief Medical Officer of Ocugen. “The Phase 3 program builds on compelling 12-month Phase 2 data, which demonstrated a statistically significant 31% reduction in lesion growth with the optimal dose compared with control following a single subretinal injection, along with concordant preservation of the ellipsoid zone and no drug-related serious adverse events (SAEs) or adverse events of special interest (AESIs).”
OCU410 delivers the human retinoid-related orphan receptor alpha (RORA) modifier gene via a single subretinal injection of an AAV5 vector. Unlike therapies targeting a single pathway, OCU410 is designed to simultaneously address multiple pathophysiological drivers of GA-complement overactivation, chronic inflammation, oxidative stress, and lipid dysregulation. GA affects approximately 2–3 million people in the U.S. and Europe and is a leading cause of irreversible central vision loss in older adults, with prevalence expected to rise as the population ages.
According to study investigator Victor Gonzalez, MD, “Patients with geographic atrophy continue to face irreversible structural and functional loss of the retina, along with limited treatment options. The OCU410 Phase 3 study provides an important opportunity to evaluate a novel, potential one-time gene therapy approach that could lessen the burden of current treatments in the U.S., which require patients to undergo multiple injections every year.”
Global Phase 3 Registrational Trial Design
The Phase 3 trial is a global, multicenter, randomized, controlled study enrolling 237 subjects with GA secondary to dAMD, randomized 2:1 to a single 200 µL subretinal injection of OCU410 (5×1010 vg/mL) or an untreated control arm, with sites in the United States, Canada, Europe, and Latin America.
Primary endpoint: Rate of change of square root-transformed GA lesion area (√mm²/year) by fundus autofluorescence (FAF) at baseline, Month 4, Month 8, and Month 12, analyzed by MMRM.Secondary endpoints: Proportion of subjects with Low-Luminance Visual Acuity (LLVA) loss ≥15 ETDRS letters at two consecutive visits through Month 12, providing a functional vision anchor to the primary anatomic endpoint; and rate of change of ellipsoid zone (EZ) area loss by SD-OCT.Regulatory path: A single, adequate and well-controlled Phase 3 trial, aligned with FDA feedback, is intended to support a BLA filing anticipated in 2028. Discussions are ongoing with the European Medicines Agency (EMA) regarding alignment to potentially support a marketing authorization application (MAA) in Europe with this single Phase 3 trial.
RMAT Designation: Regulatory and Strategic Significance
On July 29, 2026, FDA granted RMAT designation to OCU410 based on Phase 2 clinical data demonstrating clinically meaningful efficacy and a favorable safety profile, with no serious adverse events related to OCU410 reported. RMAT designation is granted to regenerative medicine therapies intended to treat serious or life-threatening conditions where preliminary clinical evidence indicates the potential to address an unmet medical need.
For the OCU410 program, RMAT designation provides:
Eligibility for accelerated approval and priority review, which may compress the time from BLA submission to potential market entry.All benefits of Breakthrough Therapy designation, including intensive FDA guidance on efficient development and organizational commitment involving senior FDA leadership.Early and frequent FDA interactions on the use of surrogate and intermediate clinical endpoints reasonably likely to predict long-term clinical benefit-directly relevant to OCU410’s FAF-based anatomic primary endpoint.Potential flexibility in satisfying post-approval requirements, including through expanded patient registries or real-world evidence. Taken together with FDA alignment on the Phase 3 design and the initiation of dosing, RMAT designation further de-risks the regulatory pathway for OCU410 and reinforces the differentiation of a one-time, multi-pathway gene therapy in a GA market currently served only by chronically administered intravitreal complement inhibitors.
Supporting Phase 2 ArMaDa Data
The Phase 3 trial and the RMAT designation are supported by 12-month data from the Phase 2 ArMaDa trial (NCT06018558), a multicenter, randomized, controlled study of 51 subjects with GA secondary to dAMD.
Lesion growth (FAF): 31% reduction in GA lesion area growth rate in the medium dose group versus control at 12 months (p < 0.05) in the pivotal phase 3 population (lesion size of ≥2.5 mm2 and ≤17.5 mm2), a potential 2× treatment benefit relative to the 15% and 22% reductions reported for currently approved therapies in the U.S. at 12 and 24 months, respectively.EZ preservation (SD-OCT): 27% reduction in ellipsoid zone area loss in the medium dose group versus control, a structural correlate of visual function.Responder analysis: In the medium dose group, approximately 20% of treated subjects showed no disease progression; 75% demonstrated >30% reduction in lesion growth at 12 months.Safety: No OCU410-related serious adverse events (SAEs) or adverse events of special interest (AESIs) reported to date. About OCU410
OCU410 (AAV5-hRORA) is Ocugen’s investigational first-in-class modifier gene therapy, delivering the RORA gene via a single unilateral subretinal injection to regulate complement activation, neuroinflammation, oxidative stress, and lipid metabolism – multiple pathways implicated in the pathogenesis of GA. OCU410 has received RMAT designation from the FDA and Advanced Therapy Medicinal Product classification from the European Medicines Agency's Committee for Advanced Therapies.
About Ocugen, Inc.
Ocugen, Inc. is a pioneering biotechnology company developing gene therapies for blindness diseases. The Company’s breakthrough modifier gene therapy platform has the potential to address significant unmet medical needs across large patient populations through a gene-agnostic approach. Unlike traditional gene therapies and gene-editing technologies that target a single gene mutation, Ocugen’s modifier gene therapies are designed to address the underlying disease biology by restoring balance across multiple gene networks. The Company is currently advancing programs for inherited retinal diseases and other causes of blindness that affect millions worldwide, including retinitis pigmentosa, Stargardt disease, and geographic atrophy, an advanced form of dry age-related macular degeneration. Discover more at www.ocugen.com and follow us on LinkedIn and X.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding strategy, business plans and objectives for Ocugen’s clinical programs, plans and timelines for the preclinical and clinical development of Ocugen’s product candidates, including the therapeutic potential, clinical benefits and safety thereof, expectations regarding timing, success and data announcements of current ongoing preclinical and clinical trials, including the timing of enrollment and data readouts, the ability to initiate new clinical programs, statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, statements regarding potential market size and commercial possibilities of Ocugen’s product candidates, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations, including, but not limited to, the risks that receipt of RMAT designation may not lead to faster development or accelerated regulatory review or approval; that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing may not be predictive of the results or success of later clinical trials; and that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. These and other risks and uncertainties are more fully described in our annual and quarterly filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.
FuelCell Energy zveřejní výsledky za 3. čtvrtletí před otevřením trhu; analytici čekají ztrátu 39 centů na akcii a tržby 38,82 milionu USD. Akcie v pondělí klesly o 3 % na 17,23 USD.
FuelCell Energy, Inc. (NASDAQ:FCEL) will release its third quarter earnings report before the opening bell on Wednesday, Sept. 2.
Analysts expect the Danbury, Connecticut-based company to report a quarterly loss of 39 cents per share, versus a loss of $1.02 per share in the year-ago period. The consensus estimate for FuelCell Energy’s quarterly revenue is $38.82 million. It reported $46.74 million last year, according to Benzinga Pro.
On July 9, FuelCell Energy announced a collaboration with Siemens to accelerate the growth of fuel cell-based power generation.
Shares of FuelCell Energy fell 3% to close at $17.23 on Monday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
UBS analyst Manav Gupta upgraded the stock from Neutral to Buy and raised the price target from $22 to $27 on July 14, 2026. This analyst has an accuracy rate of 74%. B. Riley Securities analyst Ryan Pfingst upgraded the stock from Neutral to Buy and increased the price target from $13 to $32 on June 29, 2026. This analyst has an accuracy rate of 62%. Wells Fargo analyst Praneeth Satish maintained an Underweight rating and raised the price target from $6 to $8 on June 16, 2026. This analyst has an accuracy rate of 57%. Jefferies analyst Laurance Alexander maintained a Hold rating and boosted the price target from $7.2 to $16 on June 10, 2026. This analyst has an accuracy rate of 74%. Canaccord Genuity analyst George Gianarikas upgraded the stock from Hold to Buy and increased the price target from $12 to $30 on June 9, 2026. This analyst has an accuracy rate of 59%. Trending
Considering buying FCEL stock? Here’s what analysts think:
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Zlato (XAU/USD) dál klesá a spadlo na dvoutýdenní minimum 4 375 USD, téměř 7 % pod vrcholem z minulého týdne. Dolar posílil po jestřábích komentářích Fedu.
Gold (XAU/USD) resumed its decline on Tuesday, following a flat performance on Monday, reaching fresh two-week lows at $4,375 so far, posting a nearly 7% decline from last week’s peak, near $4,700. Precious metals are struggling this week as hawkish comments by Federal Reserve (Fed) Chairman Kevin Warsh at the Jackson Hole summit on Friday provided a fresh boost to the USD.
Strategists at Brown Brothers Harriman note that the US Dollar has “recovered most of yesterday’s pullback” as policy expectations remain firmly skewed toward further tightening. They also highlight that “Fed funds futures price in 67% odds of a 25bps hike on September 16 and imply 60bps of tightening over the next twelve months,” with market “pricing [set to] remain elevated into the September meeting.”
In their view, however, “August CPI on September 11” will be the “decisive test” to see whether those rate expectations – and the Dollar’s recovery – can be sustained.
Technical Analysis: Next downside target is at $4,315
XAU/USD trades at $4,378, with momentum indicators in the daily chart entering bearish territory. The Relative Strength Index (RSI) is testing levels below the key 50 line, and the Moving Average Convergence Divergence (MACD) has slipped below zero, pointing to increasing downside pressure.
Immediate support is seen at the mid-August lows between $ 4,310 and $4,330. Further down, the August 6 low, near $4,225, would come into view. On the topside, previous support at the $4,450 area has now turned resistance and is likely to test rallies, ahead of the 200-day simple moving average (SMA) at $4,530 and last week's highs, near $4,700.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Helix a Hornbeck dokončily fúzi výměnou akcií a vytvořily integrovanou offshore servisní společnost. Nový Hornbeck Offshore Services začne na NYSE obchodovat 2. září 2026 pod tickerem HOS.
Hornbeck Offshore Services, Inc. To Begin trading on NYSE Under "HOS" on September 2, 2026
, /PRNewswire/ -- Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) and Hornbeck Offshore Services, Inc. ("Hornbeck") today announced they have completed the previously announced combination in an all-stock transaction, establishing a premier integrated offshore services company.
The combined company has assumed the Hornbeck Offshore Services, Inc. name and will begin trading on the New York Stock Exchange on September 2, 2026, under the ticker symbol "HOS." Helix's common stock will cease trading on the New York Stock Exchange under the ticker symbol "HLX" at the close of trading on September 1, 2026.
As previously announced, Todd M. Hornbeck has assumed the role of President, Chief Executive Officer and Director of the combined company, and William L. Transier has assumed the role of Chairman of the combined company's Board of Directors. In addition, the combined company has appointed the following individuals to the executive leadership team:
R. Potter Adams, Executive Vice President and Chief Financial Officer; Scott "Scotty" A. Sparks, Executive Vice President and Chief Operating Officer – Subsea Services and Well Intervention Ben D. Todd, Executive Vice President and Chief Operating Officer – Marine Transportation and Specialty Samuel A. Giberga, Executive Vice President, General Counsel and Secretary; Brian M. Cook, Executive Vice President and Chief Accounting Officer; Priscilla B. Heistad, Executive Vice President and Chief Human Resources Officer; Daniel M. Stuart, Executive Vice President and Chief Commercial Officer; Carl G. Annessa, Executive Vice President – Defense / Emerging Technologies; and Michael J. Nicaud, Senior Vice President, Associate General Counsel and Chief Compliance Officer "Today marks the beginning of an exciting new chapter for our company, our employees, our customers and our shareholders," said Todd M. Hornbeck, President and CEO of Hornbeck Offshore Services, Inc. "By bringing together Hornbeck's industry-leading marine expertise with Helix's differentiated robotics, well intervention and subsea capabilities, we have created a global offshore services leader, providing innovative and integrated solutions to our customers across the deepwater oilfield, defense and renewables industries. I want to thank the employees of both organizations for their professionalism and commitment throughout this process. Together, we are building a stronger, more diversified company with the scale, capabilities and financial strength to capitalize on opportunities across our offshore markets while delivering long-term value for our shareholders."
"The closing of this transaction represents the successful culmination of a shared vision to create a market-leading offshore services company with unique capabilities and strategic flexibility," said William L. Transier, Chairman of the Board of Hornbeck Offshore Services, Inc. "The merger brings together two highly complementary organizations with strong cultures, exceptional people and deep customer relationships. On behalf of the Board, I am grateful to our shareholders for their support and confidence. We believe this merger positions the company to generate sustainable growth and to create significant value for all stakeholders."
Advisors
Goldman Sachs & Co. LLC served as financial advisor to Helix, and Veriten LLC served as an independent strategic advisor. Baker Botts L.L.P. served as legal counsel to Helix, and Joele Frank, Wilkinson Brimmer Katcher served as its strategic communications advisor.
Barclays, Piper Sandler & Co. and J.P. Morgan acted as financial advisors to Hornbeck. Kirkland & Ellis LLP and Jones Walker LLP served as its legal counsel.
About Hornbeck Offshore Services
Hornbeck Offshore Services, Inc. is a global offshore services leader, providing innovative and integrated marine and subsea solutions to customers across the deepwater oilfield, defense and renewables industries.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of present or historical fact included in this press release are forward-looking statements. Words such as "anticipate," "believe," "expect," "intend," "may," "plan," "project," "should," "will" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words, and the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements include, but are not limited to, statements regarding: the combined company's expectations, hopes, beliefs, intentions or strategies regarding the combined company's growth and stakeholder value; the timeline and ability to realize anticipated benefits and expected synergies of the merger; and equity award grants.
Forward-looking statements are based on current expectations and assumptions and involve known and unknown risks, uncertainties and other important factors, many of which are beyond the combined company's control, including, but not limited to, risks related to potential litigation relating to the merger, including the effects of any outcomes related thereto; the ability of the combined company to retain and hire key personnel, to retain customers or maintain relationships with Helix's or Hornbeck's respective suppliers and customers; the diversion of management's time and attention from ordinary course of business operations to the integration of Helix's and Hornbeck's businesses and the ability to achieve the anticipated synergies and value-creation contemplated by the merger; potential adverse reactions or changes to business relationships resulting from the completion of the merger; legislative, regulatory and economic developments; potential business uncertainty, including changes to existing business relationships, following the completion of the merger that could affect the combined company's financial performance as well as unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, losses, synergies, economic performance, indebtedness, financial condition, future prospects, business and management strategies, expansion and growth of the combined company's businesses; actions by governments, regulatory authorities, customers, suppliers and partners; market conditions; demand for services; the performance of contracts by suppliers, customers and partners; operating hazards and delays, which includes delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; complexities of global political and economic developments; the impact of general economic conditions, including inflation, on economic activity and on the combined company's operations; the general volatility of oil and natural gas prices and cyclicality of the oil and gas industry' and other risks described from time to time in Helix's and the combined company's filings with the SEC.
Forward-looking statements speak only as of the date they are made. The forward-looking statements in this press release are based upon information available to the combined company as of the date of this press release and, while the combined company believes such information forms a reasonable basis for such statements, these statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements. Actual outcomes may vary materially from those described in these statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the combined company's periodic filings with the SEC, including Helix's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Q and in Helix's Definitive Proxy Statement/Prospectus filed with the SEC on July 31, 2026. The combined company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements, other than as may be required by applicable law or regulation.
Contacts:
[email protected]
Potter Adams
Executive Vice President and CFO
985-727-6815
Brent Arriaga
Vice President of Finance and Investor Relations
281-618-0460
On-chain researcher Rarma’s analysis reveals that Injective halted block production for approximately 3 hours and 42 minutes on August 31. The block height recovered from 181,027,006 to 181,027,007, with no rollback occurring during the outage. QuickNode’s status records also confirm that Injective’s mainnet experienced a full-network block stagnation that day, prompting the deployment of an emergency patch. Attackers are suspected of repeatedly exploiting Injective’s insurance fund and permissionless binary options market creation mechanism, executing a total of 299 related operations, and ultimately funneling roughly 1,979.8 ETH (valued at around $4.88 million) in proceeds to a single address.
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Gold and silver fall to two-week lows as surging global bond yields weigh on precious metals.
According to Bitget market data, gold and silver prices extended their recent downtrend, as safe-haven demand for precious metals was temporarily suppressed by high interest rate pressure amid sell-offs in major global bond markets and a rapid rise in long-term yields. Spot gold fell nearly 1.8% intraday to around $4,370 per ounce, hitting its lowest level since August 19; spot silver dropped nearly 3% to around $64.5 per ounce. On the same day, the U.S. 10-year Treasury yield broke above 4.75%, Germany’s 10-year Bund yield climbed to a 15-year high, and Japan’s 10-year JGB yield surpassed 3% for the first time since 1996. Markets are concerned that escalating tensions in the Middle East could push up oil prices and inflation, potentially forcing major central banks to maintain tight monetary policies or even raise interest rates further, thereby continuing to lift the opportunity cost of holding gold, a non-yielding asset. Going forward, markets will focus on the ADP employment data scheduled for September 2 and the U.S. Non-Farm Payrolls report on September 4 to gauge the Federal Reserve’s interest rate hike expectations and the future trajectory of bond yields.
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LNG Energy Group prodloužila závaznou exkluzivitu a LOI s Fifth Ocean do 30. listopadu 2026, zatímco dokončují due diligence na společný JV v USA pro investice do ropy a plynu ve Venezuele. Fifth Ocean má financovat až 200 milionů USD.
Not for distribution to United States newswire services or for dissemination in the United States
TORONTO, ON / ACCESS Newswire / September 1, 2026 / LNG Energy Group Corp. (TSXV:LNGE)(TSXV:LNGE.WT)(OTC PINK:LNGNF)(FWB:E26) (the "Company" or "LNG Energy Group") announces that, further to its news release dated May 26, 2026, it has reached an agreement with Fifth Ocean Management LP, in partnership with Westlawn Group (together, "Fifth Ocean"), to extend the term of the binding exclusivity agreement and Letter of Intent ("LOI") to November 30, 2026 while the parties finalize due diligence, seek to satisfy all conditions precedent and negotiate in good faith definitive transaction documentation.
Under the terms of the previously announced proposed joint venture, the parties will establish a new joint venture company (the "JV Company") organized in the United States to invest in oil and gas exploration and development projects in Venezuela. The JV Company will be owned 50/50 between the Company and Fifth Ocean, the Company will contribute existing oil and gas assets in Venezuela, and Fifth Ocean will fund an investment program of up to US$200 million to increase production and potential acquisition of additional assets in Venezuela (the "Transaction").
The Transaction is subject to the completion of due diligence and certain conditions precedent including the negotiation and entry into the mutually acceptable definitive documentation within the binding exclusivity period. Closing of the Transaction is subject to customary conditions precedent, required regulatory approvals (including applicable Office of Foreign Assets Control ("OFAC"), Ontario Securities Commission and TSX Venture Exchange) and customary contractual approvals.
The JV Company will also partner with Salamander Solutions Inc. ("Salamander") on a pilot program to deploy Salamander's advanced heating technology in Venezuela. The technology partnership between the JV Company and Salamander will be leveraged to evaluate and unlock prospective heavy oil resources in the assets of the JV Company.
About LNG Energy Group
The Company focuses on the acquisition and development of hydrocarbons production and exploration assets in Latin America. For more information, please visit www.lngenergygroup.com.
For more information please contact:
Angel Roa, Chief Financial Officer LNG Energy Group Corp.
Website: www.lngenergygroup.com
Email: [email protected]
Phone: (305) 464-6362
Find us on social media:
LinkedIn: https://www.linkedin.com/company/lng-energy-group-inc/
Instagram: @lngenergygroup
X: @LNGEnergyCorp
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements, and are based on expectations, estimates and projections as at the date of this news release that reflect the current views and/or expectations of management of LNG Energy Group with respect to performance, business and future events. Forward-looking statements in this press release include, but are not limited to, statements relating to: the execution and completion of the proposed Transaction; the finalization of definitive agreements; the total committed investment program of up to US$200 million; the development of the Venezuela assets; and the Company's anticipated growth and operational objectives. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including: the inability of the parties to negotiate and execute definitive agreements; failure to obtain required regulatory approvals (including those of OFAC, TSX Venture Exchange, and applicable Canadian securities commissions); adverse changes in the Venezuelan political, legal or regulatory environment; failure to complete due diligence to Fifth Ocean's satisfaction; and other factors described in the Company's public filings on SEDAR+. LNG Energy Group does not undertake any obligation to release publicly any revisions to forward-looking statements, except as required by applicable securities law.
SANCTIONS COMPLIANCE NOTE:
The proposed Transaction involves assets located in Venezuela. The parties have acknowledged that all activities in connection with the Transaction will be conducted in full compliance with applicable U.S. sanctions laws and regulations, including those administered by OFAC. The Company will only proceed with the activities in connection with the Venezuela assets in accordance with OFAC authorizations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Berkshire Hathaway ve 2. čtvrtletí odkoupila vlastní akcie za 4,5 miliardy USD, nejrychlejším tempem za několik let. Článek tvrdí, že její provozní byznys se obchoduje asi za 10,2násobek zisku za posledních 12 měsíců.
Berkshire Hathaway (BRKA -0.18%)(BRKB -0.19%) bought back $4.5 billion of its own stock in the second quarter, its most aggressive pace of buybacks in several years. Unlike many other companies that buy back stock, Berkshire can do so only when CEO Greg Abel and Chairman Warren Buffett agree that the stock is trading below its intrinsic value.
Are they right? Is Berkshire truly a cheap stock right now?
Of course, it's tough to do a full piece-by-piece analysis in a short article, but we can use the three main parts of Berkshire Hathaway's business to help determine if the stock is cheap or expensive.
Image source: Getty Images.
Berkshire: A sum of three parts As of this writing, Berkshire's market cap is about $1.09 trillion. If the sum of the parts is worth more than that, it's trading for less than its intrinsic value.
Thankfully, two of the three parts of the business are easy to value. At the end of the second quarter, Berkshire had $365.5 billion in cash and Treasuries on its balance sheet. And as I'm writing this, Berkshire's stock portfolio is worth about $360.5 billion. Subtracting these two numbers shows that Berkshire's operating businesses are being valued at about $364 billion.
Over the past four quarters, Berkshire has produced just over $48 billion in operating earnings. After subtracting investment income from the insurance business (which is mostly the interest earned on its cash), Berkshire's operating income was $35.8 billion.
This means that Berkshire's operating businesses are trading for about 10.2 times trailing earnings. That's a very low multiple. For context, the average stock in the S&P 500 trades for about 28 times earnings. The average energy company (a big part of Berkshire's business) trades for a mid-teen multiple, and the average railroad stock (Berkshire owns BNSF) trades for about 22 times earnings, just to name a few components.
Of course, there are many moving parts to consider, and not every sign points to a high valuation. For example, insurance companies are generally trading for a low double-digit earnings multiple right now, and Berkshire's GEICO has been underperforming its peers in recent years.
Having said that, there's a solid case to be made that Berkshire's intrinsic value is significantly higher than its current market value. Exactly how much higher is a tougher question to answer. If you were to ask 10 experienced stock analysts to calculate the intrinsic value of Berkshire's stock, you'd probably get 10 different answers. However, it's easy to see why Abel might have decided to step on the gas when it comes to buybacks, given the low value the market is assigning to its operating businesses.
Medtronic v 1Q fiskálního roku 2027 překonal odhady tržbami 9,76 mld. USD i očištěným EPS 1,45 USD a zvýšil celoroční výhled organického růstu tržeb i zisku na akcii. Akcie v předburzovní fázi přidávají 5,01 %.
Výrobce zdravotnických zařízení Medtronic zveřejnil výsledky za první kvartál fiskálního roku 2027, který skončil 31. července 2026. Tržby i očištěný zisk na akcii překonaly odhady trhu a společnost zároveň zvýšila celoroční výhled organického růstu tržeb i zisku na akcii.
Výsledky společnosti Medtronic (MDT) za 1Q FY 2027 1Q FY 2027 Konsensus 1Q FY2027 1Q FY 2026 Tržby (mld. USD) 9,76 9,54 8,54 Čistý zisk (mld. USD) 1,86 -- 1,63 Očištěný zisk na akcii (EPS, USD/akcie) 1,45 1,39 1,26 Výsledky za 1Q Tržby v prvním kvartále vzrostly meziročně o 13,7 % na 9,76 mld. USD, na organické bázi rovněž o 13,7 %. Do čísel se promítl navíc jeden fiskální týden, jehož přínos k organickému růstu firma odhaduje přibližně na 570 mil. USD.
Očištěná hrubá marže zaznamenala meziroční růst o 10 bazických bodů na 65,2 %. Trh projektoval 64,8 %.
Tržby Medtronicu v 1Q FY 2027 dle segmentů
(v mld. USD) Segment Tržby Konsenzus Meziroční změna Kardiovaskulární 3,93 3,78 +19,5 % Neurověda
2,68 2,66 +10,3 % Lékařsko-chirurgický
2,28 2,25 +10,0 % Diabetologie 0,84 0,82 +16,9 % Tahounem zůstal kardiovaskulární segment, v němž divize Cardiac Ablation Solutions vzrostla o 88 %, v USA dokonce o 139 %, a meziročně získala 9procentních bodů amerického tržního podílu. Cardiac Rhythm Management přidal 15 % a divize Cranial & Spinal Technologies 13 %. Z hlediska regionů rostly tržby v USA organicky o 15,8 % na 4,91 mld. USD, mimo USA o 11,6 % na 4,85 mld. USD.
Očištěná provozní marže dosáhla 23,7 % oproti 23,6 % před rokem, přičemž odhad trhu činil 23,8 %.
V průběhu kvartálu Medtronic dokončil akvizice společností Scientia Vascular a SPR Therapeutics. Zároveň oznámil strategickou investici a distribuční dohodu se společností Cornerstone Robotics týkající se systému Sentire na vybraných trzích mimo USA.
Výhled Společnost zvýšila celoroční výhled a pro fiskální rok 2027 nyní očekává:
Organický růst tržeb o 7,25 až 7,75 %, tedy o 50 bazických bodů více než dosavadních 6,75 až 7,25 %. Očištěný zisk na akcii v rozmezí 5,94 až 6,00 USD oproti předchozím 5,90 až 6,00 USD. Odhad Wall Street byl na úrovni 5,96 USD. Výhled zahrnuje vliv měnových kurzů na zisk na akcii v rozmezí neutrálního dopadu až 1% přínosu, u tržeb naopak negativní dopad 50 až 150 mil. USD.
Výhled také nadále zahrnuje diabetologický segment po celý fiskální rok 2027. Oddělení tohoto byznysu chce společnost dokončit ještě před koncem fiskálního roku a po jeho realizaci výhled aktualizuje.
Komentář vedení „Fiskální rok 2027 jsme zahájili silně. Důvěru nám nedodává pouze samotná síla tohoto kvartálu, ale především šíře výkonnosti napříč našimi obchodními jednotkami a rostoucí příspěvek novějších růstových platforem,“ uvedl generální ředitel Geoff Martha. „Naše realizační schopnost spolu s inovačním motorem nám umožňuje pomáhat většímu počtu pacientů a dosahovat udržitelného růstu. Síla našeho portfolia a připravovaných inovací nám dodává jistotu ohledně příležitostí, které máme před sebou.“
„Nadále cíleně investujeme do inovací, rozvoje portfolia a obchodní realizace, což podpoří udržitelnou dlouhodobou tvorbu hodnoty,“ uvedl finanční ředitel Thierry Piéton. „Kombinace silné provozní výkonnosti a disciplinovaného finančního řízení dostala tržby i očištěný zisk na akcii nad očekávání, což nám umožnilo zvýšit výhled pro fiskální rok 2027.“
Akcie Medtronic Akcie Medtronic (MDT) v předburzovní fázi obchodování posilují o 5,01 % na 95,19 USD.
Bio-Techne získala validaci SBTi pro své cíle snižování emisí Scope 1, 2 a 3. Emise Scope 1 a 2 meziročně klesly o 49 % a obnovitelné zdroje nyní tvoří 51 % spotřeby elektřiny.
Science Based Targets initiative validates Bio-Techne's Scope 1, 2 and 3 greenhouse gas reduction targets Market-based Scope 1 and 2 emissions reduced 49% year-over-year More than half of the company's electricity consumption now comes from renewable sources First comprehensive Scope 3 emissions inventory completed , /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH), a global provider of life science tools, reagents and diagnostic products, today announced significant progress toward its climate and sustainability objectives, including validation of its greenhouse gas reduction targets by the Science Based Targets initiative (SBTi) and substantial reductions in operational emissions during fiscal year 2026.
The SBTi validated Bio-Techne's targets to reduce absolute Scope 1 and 2 greenhouse gas emissions by 70% by fiscal year 2031 from a fiscal year 2025 baseline and to commit that 81% of suppliers by spend covering purchased goods and services, capital goods, upstream transportation and distribution and business travel will have science-based targets by fiscal year 2030.
Validation of the greenhouse gas reduction targets provides customers, suppliers and other stakeholders with independent confirmation that the Company's climate goals are aligned with recognized global standards and climate science.
"Our Science Based Targets validation and progress against those targets demonstrate Bio-Techne's commitment to growing responsibly," said Kim Kelderman, President and Chief Executive Officer of Bio-Techne. "As we support scientific and diagnostic innovation around the world, we are also taking meaningful steps to reduce our environmental impact and strengthen sustainability across our operations and value chain."
Bio-Techne also expanded its use of renewable electricity during the year. The company transitioned its Minneapolis headquarters to 100% renewable electricity and began procuring renewable electricity for its St. Paul GMP facility. As a result, renewable sources now account for 51% of Bio-Techne's total electricity consumption.
ABOUT BIO-TECHNE
Bio-Techne Corporation (NASDAQ: TECH) is a global life sciences company headquartered in Minnesota, celebrating 50 years of empowering scientific and diagnostic communities to reach better answers. The company provides high-quality reagents, analytical instruments, and precision diagnostics. Its portfolio is organized into three customer-focused brands: R&D Systems™, Bio-Techne Spatial™, and Bio-Techne Diagnostics™, reflecting the scientific journey from discovery to translational research to clinical decision-making. Bio-Techne operates in 34 locations worldwide and employs more than 3,000 people. In fiscal year 2026, the company generated over $1.2 billion in net sales. Its more than 500,000 products are used globally by academic researchers, biopharmaceutical and biotechnology companies, and clinical diagnostic laboratories.
CONTACT:
Corporate Communications
[email protected]
David Clair, Vice President
Investor Relations
[email protected]
Beam Therapeutics jmenovala Erica Fostera ředitelem pro komerční záležitosti. Povede komerční strategii firmy při přípravě možného uvedení risto-cel v roce 2027.
CAMBRIDGE, Mass., Sept. 01, 2026 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced the appointment of Eric Foster as chief commercial officer. Mr. Foster will lead Beam’s commercial organization and strategy as the company advances multiple product candidates across its hematology and genetic disease franchises toward potential launches.
“Eric is an exceptional biopharmaceutical leader with a proven track record of building high-performing commercial organizations in specialty and rare disease markets,” said John Evans, chief executive officer of Beam Therapeutics. “His decades of commercial leadership are impressive, including spearheading the commercial success of multiple blockbuster rare disease franchises at Horizon Therapeutics during a period of significant growth prior to its acquisition by Amgen. As we prepare for the potential launch of risto-cel in 2027, Eric's experience building strong teams and culture, defining and executing clear commercial strategies, and leading through growth will be invaluable as we lay the foundation for Beam's next chapter and work to bring multiple precision genetic medicines to patients in the years ahead.”
Mr. Foster brings more than 25 years of commercial leadership experience across biotechnology and specialty pharmaceuticals and most recently served as chief commercial officer at Ardelyx. Prior to Ardelyx, Mr. Foster served as senior vice president and U.S. general manager at Amgen following the acquisition of Horizon Therapeutics in October 2023. At Horizon, he was senior vice president and general manager of the gout and ophthalmology business units, where he led operations for franchises that represented $2.75 billion in net sales revenue. Prior to his time at Horizon, from 2010 to 2021, Mr. Foster held roles of increasing responsibility in sales and marketing at GlaxoSmithKline across a variety of immunology and rare disease products, including serving as vice president of immunology marketing, senior global marketing director and field sales vice president. Mr. Foster began his career in sales and market access at Johnson & Johnson. Mr. Foster holds a Bachelor of Arts in Economics from the University of Georgia and a Master of Business Administration from Auburn University.
“I'm excited to join Beam at such an important moment in the company's evolution,” said Foster. “Beam has built one of the most innovative platforms and deepest pipelines in biotechnology, with the potential to redefine how serious genetic diseases are treated. I look forward to partnering with the talented team at Beam to build a leading commercial organization, establish the capabilities needed to support multiple potential launches and, ultimately, bring these transformative medicines to patients.”
About Beam Therapeutics
Beam Therapeutics (Nasdaq: BEAM) is a biotechnology company committed to establishing the leading, fully integrated platform for precision genetic medicines. To achieve this vision, Beam has assembled a platform with integrated gene editing, delivery and internal manufacturing capabilities. Beam’s suite of gene editing technologies is anchored by base editing, a proprietary technology that is designed to enable precise, predictable and efficient single base changes, at targeted genomic sequences, without making double-stranded breaks in the DNA. This has the potential to enable a wide range of potential therapeutic editing strategies that Beam is using to advance a diversified portfolio of base editing programs. Beam is a values-driven organization committed to its people, cutting-edge science, and a vision of providing lifelong cures to patients suffering from serious diseases.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned not to place undue reliance on these forward-looking statements, including, but not limited to, statements related to: the timing and effective date of the appointment of Mr. Foster; the contributions Mr. Foster may make in his role with the company; the therapeutic applications and potential of our technology; the anticipated timing of potential product launches, including any potential launch of risto-cel; our plans to advance our programs; the sufficiency of our capital resources to fund operating expenses and capital expenditure requirements; and our ability to develop life-long, curative, precision genetic medicines for patients through base editing. Each forward-looking statement is subject to important risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement, including, without limitation, risks and uncertainties related to: our ability to develop, obtain regulatory approval for, and commercialize our product candidates, which may take longer or cost more than planned; our ability to raise additional funding, which may not be available; our ability to obtain, maintain and enforce patent and other intellectual property protection for our product candidates; the uncertainty that our product candidates will receive regulatory approval necessary to initiate human clinical trials; that preclinical testing of our product candidates and preliminary or interim data from preclinical studies and clinical trials may not be predictive of the results or success of ongoing or later clinical trials; that initiation and enrollment of, and anticipated timing to advance, our clinical trials may take longer than expected; that our product candidates or the delivery modalities we rely on to administer them may cause serious adverse events; that our product candidates may experience manufacturing or supply interruptions or failures; risks related to competitive products; our ability to build and scale commercial infrastructure, including a sales and marketing organization, to support potential product launches; and the other risks and uncertainties identified under the headings “Risk Factors Summary” and “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and in any subsequent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.
Midstream společnosti v Permské pánvi budují novou plynovou a NGL infrastrukturu, protože do roku 2030 má přibýt 15,2 Bcf/d nové přepravní kapacity. Současné backlogy šesti firem už přesahují 160 miliard USD.
As noted last week, midstream MLPs and corporations broadly raised full-year financial guidance following a strong second quarter. Looking ahead, the sector’s growth runway is accelerating. Additional Permian natural gas takeaway capacity is prompting a wave of new gas processing and natural gas liquids (NGL) infrastructure as production grows. Meanwhile, surging liquefied natural gas (LNG) exports and power generation demand are driving record backlogs across the space.
Key Takeaways The arrival of critical natural gas pipeline capacity is alleviating longstanding constraints in the Permian. Over 15 billion cubic feet per day (Bcf/d) of new takeaway capacity is expected by 2030. To accommodate rising producer volumes and a gassier Permian production mix, midstream operators are sanctioning new gas processing plants and gathering systems. Surging electricity needs for data centers and advancing U.S. LNG export facilities continue to expand project backlogs. These now collectively exceed $160 billion for six names with significant natural gas infrastructure. Easing Permian Bottlenecks Unlock Further Capacity The Permian Basin is the nation’s largest oil-producing area and its second-largest natural gas-producing region. While long known for its oil output, the basin’s production mix is continuing to get gassier. Today, each barrel of Permian crude comes with 1.3 barrels equivalent of natural gas and NGLs (up from 1.0 in 2022). This is forcing midstream operators to aggressively expand processing and takeaway capacity to keep pace with rising volumes. The surge in associated natural gas production (i.e., natural gas produced from an oil well) has resulted in pipeline bottlenecks in the basin at times, with the latest constraint now alleviating.
New Pipelines Easing Permian Constraints Critical infrastructure relief began to arrive in the middle of this year. The June start-up of Kinder Morgan’s (KMI) 570 million cubic feet per day (MMcf/d) Gulf Coast Express Expansion served as the basin’s first incremental relief valve. This also coincides with the West Texas (Waha) natural gas price benchmark switching into positive territory after months of negative trading. For context, the Permian basin produced 28.7 billion cubic feet per day (Bcf/d) of natural gas in 2025.
Additional takeaway capacity is imminent. Recent updates include Energy Transfer’s (ET) 1.5 Bcf/d Hugh Brinson natural gas pipeline entering commercial service earlier than expected and 2.5 Bcf/d joint venture Blackcomb pipeline commissioning in July. The added natural gas capacity from these two projects creates a positive runway for continued production growth from the basin into 2027 and beyond. Meanwhile, more projects are already under construction to enter service over the next few years.
Most recently, a consortium led by WhiteWater Midstream sanctioned the Solitude Pipeline System, which will route from the Permian to Katy, Texas. The system will consist of two 2.25-Bcf/d pipelines, with the first slated for late 2029 and the second coming on in 2030. The natural gas pipelines shown above will add approximately 15.2 Bcf/d of collective takeaway capacity out of the Permian by 2030. This infrastructure wave provides critical egress, enabling continued basin production growth even as associated natural gas volumes rise.
Permian Processing Accelerates to Meet Volume Growth With natural gas takeaway constraints in the Permian easing, midstream operators are sanctioning new processing plants, fractionators (processing facilities for NGLs), and gathering expansions to accommodate rising producer volumes. As a result, capital spending guidance was raised or tightened by several operators, including EPD, ET, MPLX (MPLX), Plains All American (PAA), and Kinetik (KNTK).
Mixed NGLs are produced alongside crude oil and raw natural gas. Before these liquids can reach end markets, they must be separated from natural gas, transported via pipeline, and fractionated into individual products like ethane, propane, and butane. These products have applications in heating, fuel blending and as feedstocks for plastics. NGLs require dedicated midstream infrastructure across the entire value chain and often command premium fees due to their complexity.
NGL Growth Projects To capture the expected volume growth in Permian NGLs, midstream operators sanctioned a number of major organic growth projects:
Targa Resources (TRGP) announced new 20-year fee-based agreements with ExxonMobil (XOM) and sanctioned three new natural gas processing plants in the Delaware Basin with an aggregate capacity of ~825 MMcf/d, expected in service in 1H28. EPD announced a new 300-MMcf/d gas processing plant in the Delaware Basin, a 300-MMcf/d plant in the Midland Basin, and a new 150 thousand barrel per day (MBpd) NGL fractionator at Mont Belvieu. ONEOK (OKE) upsized the planned Bighorn processing plant in the Delaware Basin to 400 MMcf/d, citing strong producer activity, and reached the 80% contracting target for its 200-MBpd share of the planned joint venture liquefied petroleum gas (LPG, a subset of NGLs) export terminal. KNTK announced the gas processing plant Kings Landing II, expanding system processing capacity by 300 MMcf/d, and authorized procurement of long-lead equipment for the next processing expansion. PAA announced the build-out of Permian gathering systems to service an additional 120,000 dedicated acres, bringing its total dedicated Permian acreage to ~5.1 million acres. In Canada, midstream operators are also expanding infrastructure to support NGL logistics and regional petrochemical demand. Keyera (KEY CN) recently sanctioned the Alberta Corridor Export (ACE) rail terminal project, a facility designed to load unit trains and significantly boost exports of Canadian LPG.
Similarly, Pembina Pipeline (PPL CN) recently sanctioned the $570 million Heartland Extraction Plant (HEP), a new NGL extraction facility. The announcement was accompanied by an amended long-term agreement to supply Dow (DOW)‘s expanding petrochemical operations, increasing Pembina’s total contracted ethane volumes to Dow by 15% to just over 57 MBpd.
Natural Gas Tailwinds Continue to Support Robust Backlogs Long-term natural gas demand drivers, anchored by new LNG export infrastructure and rising power needs, continue to expand midstream project backlogs across North America. Collectively, disclosed project backlogs for six midstream companies with significant natural gas infrastructure now exceed $160 billion. This provides multi-year visibility for fee-based EBITDA growth.
Most notably on the LNG side, Enbridge (ENB CN) and MPLX sanctioned the joint venture 2.6 Bcf/d Bay Runner Twin Pipeline, which will supply natural gas to NEXT’s Rio Grande LNG facility under long-term take-or-pay agreements.
Power Generation Projects Natural gas demand for power generation facilities is supporting a number of new projects announced alongside second-quarter earnings updates:
TC Energy (TRP CN) sanctioned the $300 million Central Virginia Capacity project (Columbia Gas) and $100 million Clark project (Columbia Gulf) to serve natural gas-fired power generation and data center demand. DT Midstream (DTM) sanctioned three new organic growth projects, including a 200-MMcf/d Haynesville system expansion (LEAP Phase 5) and commercialized a new 380 MMcf/d interconnect on NEXUS to supply natural gas power generation for an Ohio data center. Williams (WMB) announced two new expansion projects tied to the recently acquired Momentum Midstream footprint, upsized Transco’s Power Express to 800 MMcf/d, and announced a 7-mile extension of its Woodside LNG-anchored Line 200 pipeline to serve Louisiana power demand. OKE secured a natural gas supply agreement for 1 gigawatt (GW) of power plant demand and noted late-stage commercial discussions to supply AI data centers. Antero Midstream (AM) is evaluating a backlog of 15 additional projects in West Virginia, primarily related to power generation and data centers, representing “several billion dollars” of potential opportunities. The multi-billion-dollar backlogs for natural gas infrastructure names, spanning both projects under construction and future projects, support a multi-year runway for highly visible, fee-based EBITDA growth. As a result, many midstream names focused on these opportunity sets have been able to raise their long-term guidance.
Bottom Line Natural gas and NGL infrastructure momentum shows no signs of slowing as operators execute on massive, multi-billion-dollar backlogs tied to rising Permian volumes, expanding LNG exports, and increased power demand. Backed by a strong outlook and durable fee-based cash flow growth, midstream operators are well-equipped to fund these stepped-up expansion programs while maintaining solid financial flexibility.
For the latest insights on how energy infrastructure can provide reliable yield and defensiveness amid market uncertainty, watch the replay of our recent 30-minute webcast, “Navigating Macro Volatility with Energy Infrastructure.”
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Related Research: Strong Midstream 2Q26 Earnings Boost Full-Year Outlook
Midstream: Robust Gas Backlogs Drive Growth Visibility
Surging U.S. Power Needs Drive Gas Infrastructure Opportunity
U.S. LNG Exports Surge Despite 4Q25 Headwinds
Permian Powers Midstream Growth From Well to Water
Midstream Prepares for More Permian Natural Gas
For more news, information, and analysis, visit the Energy Infrastructure Content Hub.
Apple varuje, že dražší paměťové čipy stlačí marže i prodeje iPhonů i po tomto čtvrtletí. CFO uvedl, že marže za zářijové čtvrtletí klesnou na 46,5 % z 48,1 % v červnovém čtvrtletí (po vyloučení celních benefitů).
On his last earnings call as Apple (AAPL -0.89%) CEO, Tim Cook said his company is facing a unique challenge due to a shortage of memory chips for its devices.
Data centers are gobbling up available memory, leaving Apple and its peers paying more for memory than in the past, and causing shortages. Cook said he anticipates "market pricing for memory continuing to increase, which could drive an increasing impact on our business."
Importantly, management said rising memory costs could affect iPhone sales and reduce the company's margins beyond the current quarter.
Cook's warning came as new Apple CEO John Ternus just took the helm at the company. Here's what Apple shareholders need to know about the memory shortage's impact on Apple's margins.
Incoming Apple CEO John Ternus. Image source: Apple.
Cook said on the third-quarter earnings call that Apple has consistently anticipated paying more for memory in each subsequent quarter. And that's exactly what's happened. Cook noted:
"As I alluded to last quarter, we expected to pay significantly more in the June quarter than the March quarter, and that is what happened.... For September, we expect to pay even higher memory costs..."
While Apple has the benefit of pre-purchasing memory at a lower cost, Cook said this benefit is declining over time and will continue to do so beyond the September quarter because prices keep rising.
Apple raised prices on its Macs in June and is widely expected to increase the prices of some of its new iPhones when they debut on Sept. 9. Price hikes help offset some of the rising memory costs, but they're not enough to erase the damage.
And Apple's management was clear that its device margins would fall.
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Apple's margins will drop (at least temporarily) under Ternus Apple CFO Kevan Parekh said on the call that the company's margins will be 46.5% for the September quarter, down from 48.1% in the June quarter (excluding tariff benefits). And he specifically cited memory as the reason for the decline, noting that the decrease is "really driven by memory."
This decline comes just as John Ternus is taking over for Cook. So what might Ternus do about the falling margins?
Apple has reportedly already tested DRAM memory chips from the Chinese company CXMT. The idea behind the move is that Apple could use memory from this supplier for Apple devices sold in China. The Financial Times has also reported that Apple is lobbying the U.S. government to allow broader use of CXMT's memory processors outside of China.
But that likely won't be the fix Apple needs. CXMT has already reached its annual memory production capacity, according to the Wall Street Journal.
For now, it looks as if Apple's margins will decline slightly under Ternus, and the company doesn't have a permanent fix -- even with raising device prices.
Samsung, SK Hynix, and Micron Technology are the world's three largest memory companies -- accounting for about 94% of the DRAM memory market -- and all are all Apple suppliers. And management at SK Hynix and Micron have said the current memory crunch could last through 2027 or even 2030.
All of which means that Apple will likely be battling to regain its margins early in Ternus' tenure -- at least until the company can find the right mix of price increases and memory supply.
Tesla v pondělí posílila o 5,5 % před čtvrtečním představením Cybercabu, které má ukázat konkrétní pokrok v autonomii. Investoři sledují, zda obhájí valuaci 1,45 bilionu USD.
Buy NASDAQ:TSLA. The stock is already pricing a positive autonomy step; the catalyst is Thursday’s Cybercab launch. The thesis is that Tesla can convert “demo” into measurable progress—clearer deployment plan, early fleet utilization targets, and credible cost-per-mile narrative—supporting a re-rating despite low current robotaxi revenue.
Key Risk: Cybercab is another showcase with vague timelines (low deployment volumes and no clear path to unsupervised operations), so the market decides the autonomy premium is unjustified.
TSLA sell if robotaxi economics disappoint
Sell NASDAQ:TSLA if Thursday fails to provide concrete autonomy milestones. The valuation depends on robotaxi scaling; if Tesla can’t outline near-term geographic rollout, autonomous-ride economics, and progress toward removing safety monitors, the market will compress the autonomy multiple quickly.
Key Risk: Tesla gives no credible numbers on fleet scale, autonomous miles, or ride economics—execution risk overwhelms the technology story.
Tesla stock NASDAQ:TSLA surged 5.5% on Monday as investors positioned for a key autonomy event, putting its $1.45 trillion valuation back under scrutiny.
The stock closed at $367.95 on August 31, extending its August gain to about 18% as the broader market slipped. Tesla remains down roughly 18% in 2026.
Attention now turns to Thursday’s Cybercab launch event in Austin. The purpose-built autonomous vehicle has no steering wheel or pedals and is designed to become central to Tesla’s robotaxi network.
The gap between Tesla’s current robotaxi revenue and the value investors assign to the business is striking.
Morningstar senior equity analyst Seth Goldstein estimated on August 18 that robotaxis generated well under 0.5% of Tesla’s total revenue in 2025, yet account for more than 30% of Morningstar’s $450-per-share fair value estimate.
Goldstein called putting Cybercab into Tesla’s fleet “a positive step forward” for its autonomous-driving software.
Morningstar expects the vehicles to have relatively low operating costs and believes the service could eventually generate strong margins.
But that also raises the bar for Thursday, as investors already assign significant value to profits that barely exist today.
A credible launch therefore needs more than another futuristic demonstration.
Deployment timing, autonomous miles, fleet utilisation, operating costs and the pace at which safety monitors can be removed are likely to matter more to the valuation debate.
The bullish case rests on Tesla turning those technological advantages into a large commercial network.
New Street Research analyst Peter Vogel reiterated a Buy rating and $600 price target. He argues Tesla has three major robotaxi advantages: low vehicle costs, a flexible supply model and a huge existing fleet.
Vogel also sees Tesla’s vertically integrated, camera-based approach producing structurally lower costs per mile than rival systems.
New Street estimates robotaxis could eventually generate more than $40 billion in revenue and about $15 billion in EBIT by 2030.
Wedbush analyst Dan Ives is more aggressive.
TipRanks reported that Ives sees Tesla exceeding a $2 trillion market value over the coming year, with a bull case approaching $3 trillion by the end of 2026 if autonomy and robotics scale successfully.
His argument makes execution the bridge between Tesla’s current valuation and another major re-rating.
Cybercab must become a scalable commercial service, not simply another vehicle Tesla can manufacture.
The risk is that Tesla’s autonomy rollout has repeatedly taken longer than some of Elon Musk’s earlier forecasts.
Barclays analyst Dan Levy remains cautious. The analyst pointed to slower-than-expected progress in Tesla’s robotaxi ambitions and the danger that enthusiasm around Cybercab could run ahead of execution.
That matters because Tesla’s conventional automotive business alone does not explain the valuation investors see across investment platforms.
Investors are paying a substantial premium for autonomy, artificial intelligence and robotics, making delays more consequential.
Thursday does not need to prove Cybercab can immediately become profitable. But investors will want clearer answers on deployment volumes, geographic expansion, unsupervised operations and autonomous-ride economics.
NVIDIA rozšiřuje NVLink na trhu zakázkových AI čipů a podle analytika tím přímo zvyšuje tlak na Broadcom. Prvním zveřejněným zákazníkem je Amazon.com Inc.’s Annapurna Labs.
NVIDIA Corp. (NASDAQ:NVDA) stock fell more than 1% in Tuesday’s premarket trading as investors pulled back from large-cap technology stocks. Nasdaq futures dropped 1.02%, while S&P 500 futures fell 0.59%.
The broader market weakness came as analysts assessed NVIDIA’s growing push into the custom artificial intelligence chip market. That strategy could open a new growth channel for NVIDIA while increasing competitive pressure on Broadcom.
NVIDIA’s NVHBM Push Threatens Broadcom’s AI Chip Position, Analyst SaysNVIDIA is expanding deeper into the custom artificial intelligence chip market with NVHBM, according to Counterpoint Research analyst Neil Shah.
The technology could challenge Broadcom Inc. (NASDAQ:AVGO) while strengthening NVIDIA’s influence over AI infrastructure.
NVHBM moves the memory controller from the accelerator chip into the base die of a high-bandwidth memory stack. It also replaces the standard JEDEC memory bus with NVIDIA’s proprietary die-to-die connection.
Shah said the approach gives NVIDIA control over the memory controller, interface and link protocol. Memory suppliers would manufacture the base die based on NVIDIA’s design.
NVIDIA Expands Beyond GPUsThe strategy could allow NVIDIA to sell its networking fabric, rack architecture, software and memory subsystem to companies developing custom accelerators. NVIDIA would not need to design the accelerator itself.
Amazon.com Inc.’s (NASDAQ:AMZN) Annapurna Labs is the first disclosed customer. It plans to use NVHBM with its Trainium4 AI chip.
MediaTek also adopted NVIDIA’s NVLink Fusion platform. Shah said this gives NVIDIA another channel for reaching custom chip customers.
However, the analyst questioned some of NVIDIA’s performance claims. The company compared NVHBM with HBM4E, which is not yet shipping, and did not disclose its full testing baseline. Shah said only the claimed 67% reduction in physical interface area can be checked using available pin-count data.
Broadcom Faces New CompetitionShah said NVHBM places NVIDIA directly in a market served by Broadcom and Marvell Technology Inc. (NASDAQ:MRVL).
Broadcom could benefit from wider adoption of custom AI chips. Still, it lacks a comparable base-die offering, according to the analyst.
Marvell outlined a similar architecture in December 2024 and has joined NVLink Fusion. That leaves Broadcom as the only major custom chip design company without a direct NVIDIA partnership, Shah said.
NVIDIA Technical Analysis And Analyst OutlookNVIDIA remains in a longer-term uptrend despite the early decline. The stock trades 4.5% above its 50-day simple moving average of $208.62. It is also 11.3% above its 200-day SMA of $195.96.
However, NVIDIA trades about 0.3% below its 20-day SMA of $218.75. That level could influence the stock’s near-term direction.
The relative strength index stands at 54.25. This neutral reading suggests the stock is consolidating. It is neither overbought nor oversold.
The moving-average structure remains bullish. The 20-day SMA sits above the 50-day average. Meanwhile, the 50-day SMA remains above the 200-day average.
Key resistance stands near $228. A stronger rally could put the 52-week high of $236.54 back in focus. Support sits near the 200-day SMA, followed by the $190 level.
The stock trades at 27.9 times earnings. That valuation reflects high expectations for continued growth. NVIDIA carries a consensus Buy rating and an average price forecast of $349.15.
Citigroup and Mizuho raised their price forecasts to $315 on Aug. 27. JPMorgan increased its forecast to $320. Citigroup maintained a Buy rating, Mizuho kept an Outperform rating and JPMorgan maintained an Overweight rating.
NVDA Price ActionNVIDIA shares fell 1.35% to $217.80 in Tuesday’s premarket session, according to Benzinga Pro.
Target zvýšil celoroční výhled a čeká růst čistých tržeb kolem 5 %, tedy o celý procentní bod více než dříve. Akcie tak podle firmy zůstávají podhodnocené.
Investors have written off Target (TGT -1.41%) over the last few years as sales stumbled and reputational damage has taken its toll. But the retail giant's comeback is well underway, and there is one reason in particular that Target is worth a second look this month.
What's got investors talking is that Target raised its full-year outlook, and the comeback is in full swing as we head into the holiday shopping season. The guidance raise is significant for a few reasons.
First, it shows that the company is confident its turnaround is not only taking hold, but picking up steam. Second, Target anticipates net sales growth of around 5%, which is an entire percentage point higher than the previous guidance. Lastly, Target is trading at a very reasonable price right now, especially compared to its longer-term history.
Image source: The Motley Fool.
What Target can't afford at the moment is more missteps. A highly controversial Halloween costume was recently pulled from shelves, leading to more calls to boycott. The easily avoidable mistakes need to stop if Target wants to bring back customers for good.
Ultimately, Target's turnaround is for real, and you can see it in its latest numbers. The stock hasn't quite caught up yet, which is why Target is worth a closer look this month.
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Target's stock has risen about 65% thus far in 2026, but is still down more than 34% over the past five years. As we approach the holiday shopping season, Target has a real opportunity to climb back to its previous peak. It just can't afford any more face-palm trip-ups.
Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy.
Odbory Micronu na Tchaj-wanu hrozí stávkou, pokud firma nezmění bonusový systém a nepropojí odměny více se ziskem. Více než 80 % členů v srpnovém průzkumu stávku podpořilo.
Micron Technology's (MU.O) labour unions in Taiwan said on Tuesday they were moving towards possible strike action unless the U.S. memory-chip maker overhauls its bonus system and shares more of its profits with employees.
The unions, representing Micron workers in Taoyuan and Taichung, said in a written response to Reuters that they had nearly 10,000 members among Micron's roughly 15,000 employees in the two cities.
More than 80% of members who took part in an internal online survey in August backed strike action, they said.
Micron's Taiwan office said in response to a request for comment that this year's performance-bonus payout would be the highest in the company's history.
It said it would continue to engage with employees through existing channels while respecting applicable legal processes.
The strike threat comes as booming demand for memory chips used in artificial intelligence hardware has tightened global supply and lifted profits across the sector.
Micron, the world's third-largest memory-chip maker, reported record revenue of $41.46 billion and net income of $28.24 billion for its fiscal third quarter ended May 28, as demand for its products surged. The company's market value was about $1.10 trillion on Tuesday.
A strike at Micron would be highly disruptive because Taiwan is the company's largest manufacturing base, according to authorities in Taipei. They say Micron has invested NT$1.4 trillion ($43.9 billion) in the island and produces DRAM and high-bandwidth memory chips there.
The government-run Central Taiwan Science Park administration said last month it was closely monitoring the dispute and had assigned staff to help facilitate contacts between Micron and the unions.
It said a strike could affect workers' livelihoods, Micron's operations and potentially Taiwan's semiconductor supply chain and wider economy, adding that it could launch labour-management negotiations or mediation if needed.
The dispute echoes a showdown at Samsung Electronics (005930.KS) in South Korea, where a planned 18-day strike involving as many as 48,000 union members was called off in May after last-minute negotiations.
That deal created a special bonus pool worth 10.5% of the chip division's operating profit, subject to profitability targets.
Micron's Taiwanese unions said profit-sharing arrangements at Samsung and SK Hynix (000660.KS) had widened the gap between Micron workers and their South Korean counterparts.
UNIONS SEEK PROFIT-LINKED BONUSES
For fiscal 2026, the unions are seeking an additional one-off bonus payment, arguing that Micron's existing Incentive Pay Plan (IPP) does not adequately reflect the company's profitability.
The unions said their proposal would amount to about 83 months' salary for each Taiwan-based employee.
From fiscal 2027, they want the IPP replaced with a system that allocates 15% of operating profit to bonuses and distributes payments quarterly rather than annually.
Micron's IPP determines annual bonuses using company and individual performance measures. The unions said the company had not fully explained how its company-performance metric was calculated and argued that it appeared to track revenue growth more closely than profit.
The unions said Micron had indicated it would keep the existing IPP for this year's bonus payments while delaying negotiations.
Micron said its compensation structure differs from the profit-sharing model sought by the unions. According to the company, employee pay packages include base salary, annual performance incentives, operational bonuses and equity programmes, including stock-purchase and restricted-stock plans.
The dispute comes as Taiwan seeks to reinforce its reputation as a reliable hub for global chip production.
President Lai Ching-te said on Tuesday that the island's semiconductor sector had been built through specialisation and long-term cooperation, and that Taiwan had consistently supplied the global market and honoured its commitments.
Micron uvedl, že AI strukturálně změnila odvětví pamětí a že nabídka se s poptávkou nemusí dorovnat ještě několik let. Firma navíc uzavřela 16 Strategic Customer Agreements s lepší viditelností budoucích výnosů.
Micron Technology (MU +2.77%) has been delivering remarkable numbers so far in 2026. Revenue reacheda record $41.5 billion in the quarter ended May 28, up from $9.3 billion a year earlier. Net income soared to $28.2 billion, while gross margin climbed to 84.6%.
Those numbers (and others in its report) were impressive. But investors are generally focused on the future of the companies they invest in and are already looking for clues to what Micron will report next. Those clues will likely come in Micron's upcoming late-September earnings release.
Three sentences from management's last earnings presentation offer a possible glimpse into the company's (and the stock's) future. Taken together, they suggest that AI may have permanently changed the memory industry, supply could remain tight for years, and Micron is building a more predictable business model.
Image source: Getty Images.
Sentence No. 1: AI has structurally changed the industry Micron's management made a striking statement in its fiscal 2026 Q3 report: "The proliferation of AI has structurally transformed the memory industry."
The most important word here is structurally. Micron isn't saying AI has simply created a temporary spike in memory demand. It's saying AI has changed the underlying industry.
That distinction matters. For decades, investors have treated Micron as a highly cyclical memory company. Demand rises, memory prices increase, profits surge, manufacturers add capacity, supply catches up, and the downturn portion of the cycle begins.
But AI could change the economics. Modern AI systems require enormous amounts of memory bandwidth and capacity. And the opportunity may extend beyond today's AI training systems. AI-enabled features are likely to spread into smartphones, PCs, vehicles, industrial applications, and robotics.
If that happens, Micron won't simply sell more memory during an AI boom. It could participate in a much larger and more durable market over time. That's a potentially enormous difference.
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Sentence No. 2: Supply may not catch up for years The second statement may matter even more for Micron's earnings:
"Even as we expect industry supply to improve gradually in 2028, we currently do not have line of sight as to when memory supply will be able to catch up with increasing demand."
That's a remarkable statement from a memory manufacturer. Micron expects supply to improve. But it still cannot see when supply will catch up with demand.
That matters because supply and demand determine the industry's pricing. When customers want more memory than manufacturers can provide, suppliers gain pricing power.
That dynamic helps explain Micron's extraordinary profitability today. Its gross margin surged from 38% a year ago to 85% in fiscal 2026 Q3. If demand continues to outpace supply for several more years, Micron could maintain strong pricing and profits for longer than investors expect.
But there is an important caveat. This is management's outlook, not a guarantee. Micron itself is investing heavily to increase production, and its competitors are doing the same. The company has also raised its planned U.S. investment to more than $250 billion through 2035.
Eventually, more supply will arrive. The question is whether demand will grow even faster over time.
Sentence No. 3: Micron is changing the way it sells memory The third sentence may prove the most important over the long term.
Micron announced that it had completed 16 Strategic Customer Agreements, or SCAs, and said they could fundamentally transform its business model.
Why does that matter? Because Micron is trying to make its future demand more visible.
The agreements provide customers with committed access to memory, while giving Micron greater visibility into future volumes and pricing. Micron says the agreements generally use take-or-pay commitments, with fixed pricing or pricing bands for many products.
That is a meaningful change for a cyclical industry. Historically, investors had to make educated guesses about how much memory customers would need, what prices would look like, and how much capacity Micron should build.
These agreements can give Micron much more information before it commits billions of dollars to new capacity. They could also reduce some of the volatility that has historically defined the memory business.
While that doesn't eliminate the memory cycle, it could make the cycle less painful.
Put the three sentences together. The first statement says AI has changed the industry's demand structure. The second says supply may remain behind demand for years. The third says Micron is securing more of its future business through long-term customer commitments.
Put them together, and you get a potentially powerful combination: More demand. Limited supply. Greater revenue visibility.
That's very different from the traditional memory industry. And it could have an important implication for Micron's valuation, since investors generally pay more for earnings they believe will continue.
What does it mean for investors? The most important part of Micron's last earnings presentation wasn't its record revenue. It was what management said about the future, particularly the three statements above. None of these developments guarantees that Micron stock will continue rising. But together, they point toward something potentially much bigger:
Micron may be becoming a better business over time.
For decades, investors knew Micron primarily as a cyclical memory producer. The next few years could determine whether AI turns it into something more valuable: a critical infrastructure supplier with stronger demand visibility, greater pricing power, and a more durable earnings base.
If that transformation succeeds, Micron stock could sustain its rally into the future.
The EUR/USD remains vulnerable below 1.1621 as USD strength still remains despite Monday's pullback move to the upside. Current Setup Current sentiment: cautiously bearish EUR/USD.
The pair is up 0.33% on the day and trading around 1.1616. The modest intraday recovery comes as traders who were long USD take profits. However, sentiment still favors USD strength, and that is why this bias for EUR/USD is cautiously bearish. The Euro is getting some support from expectations of a potential rate hike by the European Central Bank in September, especially as renewed tensions between the US and Iran have driven oil prices higher and raised concerns about imported inflation in the Eurozone.
Macro Drivers for the EUR/USD 1) Fed Hawkish Expectations
After the Fed Chair’s hawkish comments at the Jackson Hole symposium on Friday, 28 August, markets are now pricing in a much higher probability of a September Fed hike. US bond yields rose sharply, which continues to support the dollar while limiting the EUR/USD’s upside. This upside retracement was capped at 1.1621 on 31 August.
2) The ECB Policy Meeting
The ECB is also expected to raise rates in September in direct response to the hike in oil prices following the renewed tensions in the Middle East. Eurozone yields have also risen sharply, which should be ok to ward off a major euro sell-off unless the ECB disappoints and the Fed’s monetary policy expectations are repriced more hawkishly.
3) Geopolitics
Renewed US-Iran military tensions are keeping Brent crude above $90/barrel. This supports defensive positioning into the dollar, even as the risk of imported inflation makes an ECB rate hike more likely. Geopolitics is clouding the EUR/USD outlook, and the next two weeks should provide additional clarity on the situation.
Price Catalysts This Week 1. Non-Farm Payrolls: The major price catalyst this week is the Non-Farm Payrolls report. A weak payrolls report undermines any September Fed-hike expectations. This could strongly support EUR/USD amid ECB rate-hike expectations. However, a better-than-expected US jobs report favors additional dollar strength.
2. Other Macroeconomic Data: Other price catalysts include the US ISM Manufacturing PMI data and the Eurozone Core CPI Flash Estimates YoY (2.5% consensus vs 2.5% prior).
3. Brent crude prices: This is important to establish the level of defensive positioning into the US Dollars, and also the extent to which any ECB rate hike bets are repriced.
EUR/USD Weekly Forecast Scenarios Base case: EUR/USD remains under pressure below 1.1640.
Bull case: Euro gets support from hawkish ECB expectations. Additionally, weak US jobs data → fall in Fed hike expectations → weaker USD → allows EUR/USD to rebound toward 1.17.
Bear case: strong US jobs data + higher oil prices + hawkish Fed → reinforces USD strength. EUR/USD breaks 1.1570 and targets 1.1550.
EUR/USD Technical Outlook Technically, 1.1621 (31 August intraday high) is the next important resistance. Below it, EUR/USD remains vulnerable to 1.1577, followed by the 8 June and 4 August lows at 1.1506. A breakdown of 1.1577 support unlocks the downward path to a retest of the uncapped neckline of the completed double bottom at 1.1506.
On the flip side, a break of 1.1621 clears the pathway to 1.1682. A further move north brings in 1.1743, a potential pitstop before 1.1813 comes into the picture.
eDreams ODIGEO oznámila výsledky nad odhady trhu a zvýšila počet předplatitelů Prime na 8,1 milionu. Upravený EBITDA dosáhl 28,9 milionu EUR a Net Income 0,2 milionu EUR.
BARCELONA, Spain--(BUSINESS WIRE)--eDreams ODIGEO (the "Company" or "eDO") (BME: EDR) (OTC: EDDRF), the world's leading travel subscription platform, today reported results for the first quarter of fiscal year 2027, the three months ended 30 June 2026. Performance was ahead of market estimates just as eDO entered the peak investment year of its multi-year roadmap. Set out in November 2025, this strategy is turning the business into a truly multi-product, global and diversified travel subscription platform servicing 13 million subscribers by March 2030.
Prime, eDO's subscription business, remained the main engine of growth. It added 173,000 net members in the quarter to reach 8.1 million, an 8% increase year-on-year, and now generates nine out of every ten euros of the Company's Cash Marginal Profit and 77% of its revenues3. Prime revenues grew 1% to €128.4 million, with total revenues at €165.5 million4.
The quarter delivered against plan. The key growth drivers in the roadmap, geographic and product expansion, are showing encouraging progress already contributing in the period. Revenues from markets outside eDO's core European base grew 5%, lifting their share of the total to 27% from 24% a year earlier.
Rail, the most recent vertical eDO has entered, is seeing pleasing adoption in line with plan. In Spain, the Company's most advanced rollout and one of Europe's most liberalised rail markets, rail already accounts for a double-digit share of new Prime members in this market. Adoption will vary as rollout maturity and deregulation differ across Europe, and eDO's long-term guidance, reaffirmed today, already assumes this.
Adjusted EBITDA of €28.9 million and Cash EBITDA of €23.0 million were both ahead of market estimates and consistent with the investment phase financials guided in November 2025. The difference between the two measures reflects the move from single upfront subscription payment to monthly installments. This is a temporary effect on when cash is collected, not on what is earned: the subscription remains a twelve-month commitment at the same price and unlocks greater customer lifetime value, lowering the barrier to joining Prime, and fitting the lower-ticket products eDO is expanding into. At €5.8 million in the quarter against €10.2 million a year earlier, the impact of the change is reducing rapidly. Even with these planned expansion investments, eDO remained profitable, reporting Net Income of €0.2 million and Adjusted Net Income of €4.7 million.
eDO is funding its growth phase from its own resources. Cash and cash equivalents closed at €73.0 million against €51.3 million a year earlier, net financial debt was €14.6 million lower year-on-year, and total liquidity stood at €237.1 million.
That same cash generation allows eDO to continue returning capital to shareholders while investing in growth. €5.3 million was deployed in the quarter, taking repurchases to €38 million since October 2025, with €62 million still committed through September 2027, a further 11% of market capitalisation5. Nearly 15 million shares, 12.6% of share capital, have been cancelled, with up to 9 million more authorised through July 2027: a growing profit pool across a contracting share base.
A year of guided investment for accelerated long-term growth and enhanced shareholder returns
Prime began as a flight-led proposition in a handful of European markets. It is now an AI-led, market leading subscription proposition being extended across the whole of travel, entering new adjacent verticals and a widening set of geographies.
In a subscription business, the cost of acquiring a member is incurred upfront while the revenue is earned across the membership and beyond. Fiscal year 2027 is carrying the bulk of the spending behind the March 2030 targets. As guided in late 2025, eDO is deliberately accepting higher acquisition costs and a short-term trade-off in profitability this year, to unlock significantly greater long-term value from April 2027 onwards.
The roadmap sets a clear trajectory from here. In the current year eDO expects 8.5 million Prime members and 600,000 net additions, with €167.0 million of Adjusted EBITDA before investments and €115.0 million of Cash EBITDA after, and expects to deliver year-on-year Cash EBITDA growth from the fourth quarter this year. Between April 2027 and March 2030 it expects record net additions of 1.5 to 2 million members a year, reaching 13 million Prime members and more than €270 million in Cash EBITDA, a compound annual growth rate of 33% from the current year.
Dana Dunne, Chief Executive Officer at eDreams ODIGEO said: "In November 2025, we said we would invest this year to unlock substantial long-term growth, and we are delivering exactly, coming in ahead of expectations. The underlying business is growing: more subscribers, in more geographies, adopting an expanded travel subscription offering, which de-risks and diversifies the business. This is what we promised we would do, and this is exactly what we are delivering.
“Our results reflect a deliberate, announced and time-bound investment phase, and we are on track to deliver year-on-year growth in profitability within two quarters. Conviction in our roadmap, 13 million Prime members and more than €270 million in Cash EBITDA by March 2030, is strengthened by this early delivery, and we continue to return capital to shareholders while we build the foundations for the growth ahead”.
-ENDS-
About eDreams ODIGEO
eDreams ODIGEO is the world’s leading travel subscription platform and one of the largest e-commerce businesses in Europe. Under its four renowned online travel agency brands – eDreams, GO Voyages, Opodo, Travellink, and the metasearch engine Liligo – it serves millions of customers every year across 44 markets. Listed on the Spanish Stock Market, eDreams ODIGEO works with nearly 700 airlines. The business launched Prime, the first subscription product in the travel sector which has topped over 8.1 million members since launching in 2017. The brand offers the best quality products in regular flights, low-cost airlines, hotels, dynamic packages, car rental and travel insurance to make travel easier, more accessible, and better value for consumers across the globe.
1 Based on Cash EBITDA.
2 Based on Revenue Margin.
3 Based on Cash Revenue Margin.
4 Based on Revenue Margin.
5 As of June 30th
Verisk odhaduje průměrné roční pojištěné katastrofické ztráty na 171 miliard USD, tedy o 19 miliard více než před rokem. I bez hurikánů v USA zůstaly ztráty už šestý rok nad hranicí 100 miliard USD.
Average annual insured catastrophe losses increased by approximately $19 billion in a year, the highest estimate Verisk has reported to dateDespite a season with no U.S. hurricane landfalls, estimated losses exceeded $100 billion for a sixth consecutive yearExposure growth, rising reconstruction costs and continued development in catastrophe-prone areas are pushing potential losses higher, regardless of weather patterns in any single year Jersey City, N.J., Sept. 01, 2026 (GLOBE NEWSWIRE) -- The catastrophe modeling business unit of Verisk (Nasdaq: VRSK), a leading data analytics and technology provider to the global insurance industry, today released Verisk's 2026 Global Modeled Catastrophe Losses Report. The annual report calculates that the insurance industry should be prepared to withstand $171 billion in insured catastrophe losses on average in a given year, up $19 billion from a year ago, and the highest estimate Verisk has reported to date. The industry’s loss benchmark increased even after a year with no U.S. hurricane landfalls for the first time in a decade, and it reflects continued growth in property values and insured values worldwide.
“A quiet hurricane season can lead markets to respond as if risk has eased: rates soften, insurers keep more risk on their own books, and more capital competes to write new business,” said Rob Newbold, president of Verisk Catastrophe and Risk Solutions. “But 2025 reminds us that the underlying risk landscape has changed and years without significant losses from U.S. hurricane activity no longer signal a quieter catastrophe environment.”
For the sixth straight year, global insured catastrophe losses exceeded $100 billion — a result driven not by severity perils like earthquakes and hurricanes, but by record-setting wildfires and significant severe thunderstorm activity, which produces widespread hail, wind and tornado damage across many communities rather than a single catastrophic event.
“A more dynamic risk environment underscores how catastrophe models help insurers maintain underwriting discipline and make informed pricing, capital allocation and risk transfer decisions based on the full range of risk, not just the outcome of a single season,” Newbold added.
Understanding Verisk's $171 Billion Loss Benchmark
The report’s headline figure is Verisk’s global insured average annual loss, or AAL: a modeled, long-term estimate of catastrophe risk derived from simulations across the company’s global suite of models. It is not a prediction of losses in 2026 or in any other individual year; rather, it serves as a benchmark insurers can use to evaluate potential losses across a wide range of events, perils and regions.
Several additional insights help put the number into context:
The United States accounts for the majority of modeled insured catastrophe risk. Of the $171 billion global insured AAL, $117 billion (68 percent) is attributed to the U.S. Severe thunderstorm accounts for 40 percent of modeled insured catastrophe risk, more than any other peril. It remains the largest contributor to Verisk's global insured AAL, ahead of tropical cyclone (27 percent), earthquake (10 percent), winter storm (9 percent), flood (7 percent) and wildfire (6 percent). The pattern held in 2025, when frequency perils, rather than a single hurricane, drove industry losses. A severe catastrophe year could generate losses nearly three times higher than the global insured AAL. The report also examines increasingly severe but plausible loss scenarios: At the 100-year return period – commonly used in the industry to describe a scenario with a 1 percent annual likelihood – modeled aggregate insured losses reach $477 billion. At the 250-year return period, losses reach $606 billion. Since Verisk first published this report in 2012, the estimated global insured AAL has nearly tripled, rising from $59 billion to $171 billion. The original 2012 figure was expressed in 2012 dollars. The change also reflects Verisk’s investment in expanding model coverage to more than 20 additional countries and regions, advances in science, data and modeling methods, updates to Verisk’s view of risk, and growth in insured exposure.
What's Driving Higher Losses Beyond the Hazard
Catastrophe losses are shaped by more than the number or severity of storms, wildfires or earthquakes in a given year. Several long-term trends continue to increase the value of property at risk and the potential cost of future catastrophes:
There is more property to insure. Property exposure in the countries Verisk models has grown roughly 7 percent annually since 2021, driven by both new construction and rising asset values. The cost of rebuilding keeps increasing. In the United States, residential reconstruction costs have risen about 5 percent annually since 2021, outpacing consumer inflation and increasing the potential cost of catastrophe losses even when hazard activity remains unchanged. More people and property are concentrated in hazard-prone areas. Population growth continues to be concentrated in catastrophe-exposed regions, while development expands in flood plains, wildfire zones and other high-risk locations. In England, for example, 7.1 percent of single-family homes already sit in the 100-year flood plain, and one in nine new homes built between 2022 and 2024 was built in a flood-risk area — a share Verisk’s models project could rise to one in seven new homes by 2050. Together, these trends increase insured catastrophe losses independently of weather patterns and help explain why the industry's risk benchmark continues to rise.
What would that mean in practice? Verisk's models show that adding a significant U.S. landfalling hurricane to a year like 2025 could push annual insured catastrophe losses to roughly $200 billion. Industry reports indicate that total insured losses for 2025 ranged from $107-$129 billion. The figure reflects an aggregate total across all perils in a single year, not a single mega-event. Verisk's report treats that figure as a foreseeable scenario the industry should be prepared to withstand, not a tail risk to revisit only after it happens. For consumers, a year with increased significant natural catastrophe events could mean increased premiums, changes to underwriting terms, and in the hardest-hit areas, less available coverage in subsequent years.
Why a quiet hurricane season is not a quiet year
Verisk's report underscores that a year without a U.S. landfalling hurricane can lull the market toward thinner pricing and looser underwriting terms, precisely when discipline matters most. Down years, the report notes, are when catastrophe models help insurers separate resilience from volatility when the market eventually turns.
“The $171 billion figure is not determined by the outcome of one hurricane season or one year of catastrophe losses,” said Dr. Jay Guin, executive vice president and chief research officer of Verisk Catastrophe and Risk Solutions. “It reflects a wide distribution of potential events across perils and regions, using current exposure data and a view of hazard grounded in the near-present climate. That broader perspective helps the industry prepare for loss scenarios that historical experience alone may not reveal.”
A persistent global protection gap
The report also quantifies a persistent and uneven protection gap. Globally, only about 38 percent of economic losses from natural catastrophes are insured, corresponding to a modeled economic AAL of more than $450 billion. In Europe, the gap is wider than the global average: of the region's $110 billion in expected annual economic catastrophe losses, only about $24 billion (22 percent) is currently insured. In July 2025, flash floods in Central Texas, the deadliest flood event in nearly five decades, occurred in a region where the national flood insurance take-up rate is about 3 percent, and take-up in the hardest-hit county was about 2.5 percent. When an earthquake struck Myanmar in March 2025, insurers covered less than $100 million of roughly $12 billion in economic losses.
“Narrowing the protection gap requires broader access to insurance and a clear understanding of the risk,” Newbold said. “By expanding model coverage and making both Verisk and third-party models available through our platforms, we are helping insurers evaluate risk in more markets and identify opportunities to extend coverage to communities that remain underinsured.”
About the report
The 2026 Global Modeled Catastrophe Losses Report is produced using the same suite of catastrophe models and software that Verisk's insurance and reinsurance clients rely on every day, covering more than 120 countries and regions, so its figures can be reproduced and tested in clients' own environments. The full report is available here.
Verisk’s catastrophe models are developed by AIR Worldwide Corporation, a wholly owned subsidiary of Verisk Analytics, Inc.
###
About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work. For more, visit Verisk.com and the Verisk Newsroom.
Contribution to global insured AAL by peril for all regions
Contribution to global insured AAL by peril for all regions The AAL represents expected losses over extended periods, not what would be expected in any given ye...
Bank of Canada má ve středu ponechat úrokovou sazbu na 2,25 %, ale trh už započítává dřívější zvýšení než konsenzus Reuters. Pro USD/CAD bude klíčový tón prohlášení a tiskové konference Macklema.
TL;DR: The Bank of Canada’s Wednesday hold at 2.25% is fully priced, but economist consensus (first hike in Q4 2027) and market pricing (roughly 1.76 hikes by March 2027) disagree sharply on what comes next — making the statement’s tone, not the decision itself, the real driver for USD/CAD.
Everyone Expects a Hold. Almost Nobody Agrees on What Happens Next The Bank of Canada is expected to leave its rate at 2.25% on Wednesday. All 35 economists surveyed by Reuters forecast a hold, and market pricing agrees. If that’s all traders cared about, this would be a low-drama meeting. But the agreement ends almost immediately after Wednesday.
The Reuters consensus sees the first BoC hike only in Q4 2027. Among economists who provided a forecast, fewer than half expect even one increase by the end of Q2 2027. CIBC’s Avery Shenfeld describes the Bank as being in a “watchful-waiting stance,” with inflation concerns roughly balanced by growth risks from the Canada-US trade conflict.
Markets aren’t waiting nearly that long. OIS pricing as of Sept. 1 embeds roughly 1.76 quarter-point hikes by March 3, 2027, with that meeting carrying around 76.8% marginal probability of an increase. In other words, the market’s center of gravity for tighter policy sits several quarters ahead of economist consensus.
That’s the real story heading into Wednesday: the hold is priced; the timing of the next hike is not.
Survey Says Late 2027. Some Banks Say October. There’s an important reason not to treat the survey-market gap as a simple contest over who has the better forecast. Each economist in a Reuters poll submits a single path they consider most likely. Markets have to price every plausible path at once. A smaller probability of something much more hawkish can therefore drag OIS pricing forward even if most forecasters still expect a long pause.
National Bank and Scotiabank show exactly what that hawkish scenario looks like. Both expect the BoC to hike to 2.50% in October and again to 2.75% in December — more than a year ahead of the Reuters consensus.
OIS doesn’t say those banks are right. October remains a minority outcome. But it says the possibility is real enough to matter. So there are really three positions rather than two: most economists expect the BoC to wait until late 2027, National Bank and Scotia see tightening beginning this autumn, and markets sit somewhere in between — pricing an earlier move than consensus without fully embracing the aggressive 2026 path.
Two New Forces May Be Pulling Pricing Forward The difference between probability-weighted market pricing and single-path forecasts is the most defensible explanation for the gap. But the timing also raises two interesting questions.
The Reuters poll closed on Aug. 28, before renewed US-Iran fighting pushed Brent back above $90. Canada is an oil exporter, so higher crude can support CAD directly, while persistent energy inflation could also make the BoC less comfortable leaving rates unchanged for an extended period. It’s plausible this week’s oil shock has pushed Canadian rate expectations higher — we can’t prove that without a comparable OIS snapshot from before the escalation, so it should remain a hypothesis rather than a conclusion.
US rates are another possibility. Treasury yields have surged after Warsh’s Jackson Hole speech, and the US 10-year is now challenging 4.8%. Canadian OIS could be participating in a broader North American rates repricing rather than reflecting a purely domestic rethink. That distinction will become clearer if Canadian pricing starts moving independently after Wednesday.
With No New Forecasts, Watch Every Change in Tone There’s no new Monetary Policy Report this week — the next MPR comes Oct. 28. That strips away one of the usual numerical signals and leaves statement language and Governor Macklem’s press conference with more work to do.
A more hawkish Bank would give OIS pricing greater credibility. Markets will listen for less concern about trade-related downside risk, greater emphasis on inflation near the top of the 1–3% target band, or any suggestion that recent economic resilience has reduced the need for caution.
A more dovish tone would strengthen economist consensus. If the BoC continues emphasizing weak demand, trade uncertainty, and temporary or externally driven price pressure, the argument for waiting well into 2027 would become easier to defend.
Governor Macklem and Senior Deputy Governor Rogers speak at 10:30 ET, and with the rate itself almost predetermined, changes in emphasis — or conspicuous omissions from July’s message — could drive the Canadian Dollar reaction.
Friday Tests Both Sides of USD/CAD Wednesday may not even be the most important day for the pair this week. Canada and the US both release employment reports Friday, Sept. 4.
Canada enters the report with a surprisingly constructive recent trend. Employment has risen for three consecutive months, with roughly 181,000 jobs added since April, while unemployment fell to 6.4% in July, the lowest in two years. If that continues, the market’s earlier BoC-hike pricing gains another argument. If the labor market rolls over, the watchful-waiting camp gets stronger evidence that the Bank should stay patient.
Then there’s US NFP. Strong US jobs could reinforce Warsh-driven Fed repricing and support the Dollar even if Canadian data are solid. Weak NFP could undercut the USD side of the pair. Wednesday tests BoC expectations. Friday tests both sides of USD/CAD.
Oil Could Reinforce CAD, or Complicate the Whole Trade Brent around $92 adds another variable. Oil is pressing toward the upper side of a multi-week triangle, with descending resistance around $94.83 and rising support near $84.56. Renewed US-Iran confrontation means either boundary could become vulnerable to a headline-driven break.
A sustained rise in crude would normally favor CAD through Canada’s terms of trade. In the current cycle, though, it could also feed inflation concerns and strengthen the case for earlier BoC tightening, giving the Canadian Dollar a second channel of support. But geopolitical oil shocks also feed US inflation and Treasury yields, so oil isn’t a one-directional USD/CAD signal — it’s another reason to avoid treating the current OIS-survey gap as settled before this week’s events play out.
ActionForex’s Technical View on USD/CAD: Bounced, But Not Reversed The charts tell a similarly unresolved story. USD/CAD has recovered from 1.3730, but the bounce still looks corrective against the decline from 1.4247. Last week’s broad Dollar strength wasn’t enough to push the pair through 1.3927, the 38.2% retracement of that fall, and price remains below descending near-term resistance.
Momentum is neutral. The 4H RSI is around 50 and the MACD is hovering close to zero — neither supports the claim that a new bullish trend has begun.
As long as 1.3927 caps upside, another move lower remains favored. A break of 1.3823 would be the first sign the rebound is ending and put 1.3730 back in focus. A break of 1.3730 would resume bearish pressure and reopen the larger downside.
The alternative is clear too. A firm move above 1.3927 would invalidate the immediate bearish setup and target 1.4002, where former support has turned into resistance.
1.4002 Separates Correction From a Bigger Reassessment The daily chart puts that near-term battle into broader context. The recovery from 1.3480 is still treated as corrective within the medium-term downtrend. It may already have completed as a three-wave rise to 1.4247, or that move may represent the first leg of a larger correction. Either interpretation still allows another test of 1.3480 while 1.4002 holds.
This creates a clean fundamental-technical bridge for Wednesday. If the BoC sounds comfortable waiting well into 2027, USD/CAD could finally push through 1.3927 and test whether 1.4002 can hold. If Macklem sounds closer to the market’s earlier tightening timeline, the rebound from 1.3730 could fail before those levels and the broader bearish structure would stay intact.
Either way, Wednesday’s answer is unlikely to come from the 2.25% printed at the top of the decision. It will come from how the Bank talks about what happens next — and whether that sounds more like economist consensus, market pricing, or the increasingly hawkish minority already calling for an October hike.
Key Takeaways Wednesday’s BoC hold at 2.25% is fully priced by both economists and markets, but the two diverge sharply on timing: Q4 2027 (Reuters consensus) versus roughly 1.76 hikes priced by March 2027 (OIS). National Bank and Scotiabank represent the hawkish tail, expecting hikes to 2.50% in October and 2.75% in December, more than a year ahead of consensus. With no new Monetary Policy Report this week, statement language and Macklem’s press conference tone carry more weight than usual for gauging which camp is right. Friday’s dual Canada-US employment reports may matter more than Wednesday’s decision, testing both the BoC repricing story and the Warsh-driven Fed repricing simultaneously. USD/CAD stays capped below 1.3927 resistance for now; a hawkish BoC tone could push through toward 1.4002, while a dovish tone risks a break of 1.3823 and a retest of 1.3730.
ActionForex
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for two decades. We started providing only a daily and a mid-day report, now known as Action Insights. Gradually, we added a lot more in-house contents to the site. Technical Outlook section was expanded to cover more pairs. In addition to that, Top Movers, Heat Map, Pivot Point Charts and Pivot Meters, Action Bias and Volatility Charts, are tools used by traders from all over the world.
Spotové Solana ETF v USA zaznamenaly sedmý týden čistých přílivů v řadě, přičemž za posledních sedm dní přiteklo přes 1,2 milionu SOL v hodnotě asi 120 milionů USD. Zároveň počet peněženek s alespoň 10 000 SOL vzrostl za týden o 52.
Key Highlights SOL experienced an 8.31% decline from $110.50 to approximately $100.40 starting August 26 52 additional whale wallets emerged in the last week, each holding 10,000+ SOL Spot Solana ETFs in the United States recorded seven consecutive weeks of capital inflows, adding 1.2 million SOL (~$120M) in the most recent week SOL balances on centralized exchanges decreased by 4.91%, indicating a shift toward long-term holding strategies The Double Disinflation governance proposal succeeded, increasing the yearly disinflation rate from 15% to 30% Solana has experienced a significant pullback in recent trading sessions, yet beneath the price action lies a compelling narrative of network strength and institutional confidence. Multiple on-chain metrics reveal increasing adoption, sustained institutional investment, and a blockchain operating at unprecedented capacity.
Solana (SOL) Price Beginning August 26, SOL declined 8.31%, sliding from $110.50 down to approximately $100.40, as reported by crypto analyst Ali Charts.
Even as prices retreated, Solana’s blockchain has generated an average of approximately 9.5 million new wallet addresses daily throughout the previous week. This expansion rate indicates that new participants continue joining the ecosystem rather than exiting during the downturn.
2/7 While $SOL has pulled back 8.31% from $110.50 to $100.40 since August 26, network growth remains strong.
Over the past week, Solana has averaged 9.5 million new addresses per day. Sustained network expansion is a key measure of adoption and has historically preceded major… pic.twitter.com/XemL1eS5OK
— Ali Charts (@alicharts) August 31, 2026
Large holder activity has intensified noticeably. Wallets containing 10,000 SOL or more increased by 1.58%, representing the addition of 52 new whale-tier addresses in just seven days. When substantial holders accumulate positions, it typically reduces the circulating supply available for active trading.
Institutional Investment Maintains Momentum Institutional participation has demonstrated remarkable consistency. Spot Solana exchange-traded funds in the United States have experienced positive inflows for seven straight weeks. During the latest seven-day period, more than 1.2 million SOL entered these investment vehicles, representing approximately $120 million in value.
🐋 WHALE WATCH :$88.1M in $SOL ETF exposure.
Goldman Sachs is officially the largest known institutional holder of spot Solana ETF according to new 13F filings.
Smart money isn't ignoring the fastest chain in crypto anymore. The TradFi bid is real and its expanding beyond… pic.twitter.com/48NW2P7xwv
— Whale Factor (@WhaleFactor) August 28, 2026
Concurrently, the volume of SOL held on cryptocurrency exchanges contracted by 4.91%. Approximately 2.6 million SOL tokens exited exchange platforms throughout the past week, suggesting investors are transferring assets to self-custody solutions or preparing for extended holding periods.
Cryptocurrency analyst CryptosBatman shared on X that SOL has successfully broken free from a significant accumulation pattern, identifying the $83–$85 range as a critical support zone for retesting. According to his analysis, maintaining support in this region could propel SOL toward $150 and potentially higher.
From a technical perspective, $103 represents the crucial support threshold. Approximately 39 million SOL was acquired near this price point, establishing it as a robust zone where buying pressure is expected to materialize.
Should SOL defend the $103 level and gain upward momentum, resistance zones exist around $123 and $132, where roughly 20 million SOL changed hands previously. A decisive breakthrough above both levels could clear the pathway toward $150.
Network Fee Revenue Reaches New Peaks On the blockchain infrastructure front, Solana’s fee generation climbed to a seven-day average of nearly 9,200 SOL on August 27, representing an increase exceeding 80% compared to three months prior.
Non-vote transactions achieved a record 191 million on a seven-day measurement, up from merely 88 million during the same period last year. Jito validator tips averaged 2,073 SOL daily last week, marking a 26% week-over-week increase.
A significant governance decision was finalized on Friday. The Double Disinflation proposal, designated SGP-0002, passed with 67.001% community approval. This measure doubles the annual disinflation rate from 15% to 30%, eliminating approximately 18.9 million SOL from projected supply calculations over a six-year timeline.
Staking rewards are projected to decline from approximately 5.25% to 2.25% by the third year. Smaller validators dependent on inflation-based revenue may face profitability challenges, though typical users should experience no perceptible impact on network performance or transaction costs.
Non-vote transaction volume on Solana currently stands at an all-time peak of 191 million measured on a seven-day rolling average.
Furuno uvede SOLION-100 pro Iridium GMDSS, který v jednom terminálu spojuje GMDSS, SSAS a LRIT pro nové i retrofitované lodě. Komerčně má být pro retrofit dostupný koncem roku 2026, u novostaveb má dostupnost následovat v roce 2027.
Furuno Unveils New SOLION-100 Terminal for Iridium GMDSS PR Newswire
HAMBURG, Germany, Sept. 1, 2026
The SOLION-100 combines GMDSS, Ship Security Alert System and Long-Range Identification and Tracking capabilities in a single Iridium Certus 100 terminal for newbuild and retrofit vessels.
, /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice, data, aircraft surveillance, and positioning, navigation, and timing (PNT) satellite services, and Furuno Electric Co., Ltd. today announced Furuno will offer its new SOLION-100 terminal for Iridium GMDSS. This new Furuno maritime safety terminal is built on Iridium® Certus 100 technology and integrates GMDSS, Ship Security Alert System (SSAS) and Long-Range Identification and Tracking (LRIT) capabilities in a single platform.
Iridium GMDSS entered service in 2020 following recognition by the International Maritime Organization (IMO), becoming the first new provider of satellite GMDSS services since the system was established. It delivers regulated maritime distress and safety communications through Iridium's low-Earth orbit (LEO) satellite network, with global coverage, including the polar regions.
Furuno's addition of Iridium GMDSS to its portfolio gives shipowners and shipyards greater choice in selecting maritime safety equipment for newbuild and retrofit vessels.
"Furuno has been committed to supporting safer navigation at sea for decades, and maritime safety remains at the heart of what we do," said Kiyoshi Furuno, Head of Marine Electronic Products Division and Sales Management Department General Manager, Furuno. "The new SOLION-100 terminal for Iridium GMDSS allows us to strengthen our safety communications portfolio and provide customers with LEO satellite GMDSS technology alongside the Furuno navigation and communications systems they already rely on."
"Furuno has a long history of supporting maritime safety, and its addition of Iridium GMDSS brings together that expertise with the global coverage of the Iridium network," said Wouter Deknopper, vice president and general manager, maritime, Iridium. "Together, we are giving shipowners and shipyards another way to equip vessels with reliable maritime safety communications, including in the polar regions."
Iridium GMDSS is designed to support crews throughout a maritime safety event, from receiving navigational and meteorological warnings through Iridium SafetyCast® to initiating a distress alert and establishing Safety Voice communications with a Rescue Coordination Center. A single-button distress alert transmits the vessel's identification, status and position, while Safety Voice enables crews to communicate directly with rescue authorities to provide additional information about the situation.
The SOLION-100 is expected to be commercially available for retrofit applications in late 2026, with availability for newbuild projects expected to follow in 2027.
Iridium is exhibiting this week at SMM Hamburg. Visit booth Hall B6 Stand 313 to learn more about Iridium PNT, Iridium GMDSS, and other critical maritime safety services.
For more information about Iridium GMDSS, visit https://www.iridium.com/gmdss.
About Iridium Communications Inc.
Iridium Communications Inc. (Nasdaq: IRDM) operates the world's only truly global mobile satellite network. It serves as a platform for innovation, enabling voice, data, and messaging, positioning, navigation, and timing (PNT), and aircraft surveillance services anywhere on Earth. Through its satellite constellation and integrated capabilities like Aireon, the world's only space-based air traffic surveillance system, Iridium delivers services that support safety-focused operations across aviation, maritime, government, industrial, and consumer markets. The company is a leader in satellite Internet of Things (IoT) connectivity and is advancing direct-to-device (D2D) communications based on open standards to expand access to satellite services.
Headquartered in McLean, Virginia, Iridium innovates through an ecosystem of more than 500 technology and distribution partners, serving millions of customers worldwide. For more information visit www.iridium.com.
Press Contact:
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Iridium Communications Inc.
Iridium Communications Inc.
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