Track market-moving stories before they get noisy

NXP Semiconductor NV (NASDAQ:NXPI) was downgraded by UBS as the investment bank warned that a potential automotive inventory correction in China and limited exposure to artificial intelligence data centres could constrain growth.

Its rating was cut to 'neutral' from 'buy', with the price target reduced to $270 from $305, implying upside of about 9% from the latest closing price of $246.59.

The Swiss bank said the recovery in demand for analogue chips was gaining traction across the industrial and automotive markets. However, Chinese passenger vehicle wholesale and retail sales had fallen 23% and 20% respectively so far this year.

That contrasted with a 25% increase in NXP's Chinese revenue during the second quarter, raising the risk that customers had accumulated excessive chip inventories ahead of a correction in 2027.

NXP generated 17% of its revenue from China and 55% from the automotive market, leaving it particularly exposed, UBS said.

The chipmaker's relatively limited position in AI infrastructure was another concern. NXP expected AI infrastructure revenue to exceed $500 million in 2026, equivalent to about 3% of group sales. Rivals including Infineon, Texas Instruments, Analog Devices and STMicroelectronics (NYSE:STM) were each expected to generate more than $1 billion.

UBS forecast NXP's earnings per share would grow at an annual rate of 18% between 2026 and 2029, against a peer average of 34%.

However, the shares traded at 13 times forecast 2027 earnings and at a 24% discount to close competitors, providing "meaningful downside protection".

UBS cut its earnings forecasts for 2026-2030 by between 5% and 9% to reflect the risk of a Chinese inventory correction.

ToplineCryptocurrency billionaire Michael Saylor’s Strategy raised $104.7 million by selling 1,638 bitcoin last week, according to disclosures in a Securities and Exchange Commission filing on Monday, boosting the firm’s cash reserves as the price for its primary cryptocurrency asset remains low.

The bitcoin treasury firm still holds over 800,000 bitcoin, which it purchased at an average price higher than what the cryptocurrency is currently worth.

Getty Images

Key FactsStrategy sold the bitcoin at an average price of $63,957, according to the SEC filing on Monday—days after the company said it was discussing plans to sell around $5 billion worth of the cryptocurrency to build cash reserves and fund stock repurchases.

The company also disclosed $290.6 million in proceeds from selling about 3 million shares of its common stock.

The bitcoin treasury company still holds 842,138 bitcoin, which it says it purchased at an average price of $75,419—while the digital asset is priced just under $63,000 as of Monday morning.

Strategy now says it holds $4 billion in reserves, up from $3.2 billion last month, Saylor previously announced.

The company’s stock was up very slightly on Monday morning, trading at $93.94 per share—although the company’s share price remains down over 40% in 2026 so far as the price for its primary asset declines.

Forbes ValuationWe estimate Michael Saylor’s net worth at $3.2 billion, a fortune primarily derived from MicoStrategy, the software company he founded in the 1990s. Saylor lost his status as a billionaire after the dot-com bubble burst, but rebuilt his wealth through investments in bitcoin over the last decade. He also reoriented his company into becoming a bitcoin treasury, officially renaming it “Strategy” and launching a rebrand that features the digital currency in 2025.

CONTRAStrategy in June disclosed a $101.3 million bitcoin purchase, at an average price of $65,332.

Big Number$126,080. That’s the all-time high price for bitcoin, which the digital asset reached last October. The cryptocurrency’s price has plummeted in the months since.

Further ReadingForbesBitcoin Hits 3-Week Low As Strategy Plans $5 Billion SaleBy Ty Roush

ForbesBillionaire Saylor ‘Focused On Bitcoin’ As Strategy Shares Plunge And Analysts Caution Against BuyingBy Ty RoushForbesHow Larry Ellison, Masayoshi Son, Michael Saylor And Other Billionaires Are Rewriting Their LegaciesBy Martina Di Licosa

Key Takeaways Franklin Resources expects its fiscal fourth-quarter adjusted operating margin to approach 30%.BEN raised fiscal 2026 private markets fundraising expectations to about $40 billion.Franklin Resources' AI hub lifted client contacts 25% and sales more than 11% in deployed territories. Franklin Resources, Inc. (BEN - Free Report) used its third-quarter fiscal 2026 earnings call to emphasize faster margin expansion and private markets fundraising. Management said it is ahead of its five-year plan after positive flows across every asset class and geography.

Adjusted earnings of $0.72 per share topped the Zacks Consensus Estimate of $0.66, while revenues of $2.36 billion exceeded the consensus mark of $2.27 billion. The call emphasized higher fundraising expectations and a faster path to a 30% adjusted operating margin.

BEN Raises the Private Markets Fundraising BarResponding to a TD Cowen analyst, CEO Jennifer Johnson said that fiscal 2026 private markets fundraising should reach about $40 billion, above the original $25-$30 billion target. Fiscal year-to-date fundraising was $33 billion.

Johnson said Lexington generated about 40% of the quarter’s $10.3 billion private markets raise. More than 30 strategies contributed, and real estate regained traction.

A Jefferies analyst pressed on economics. Johnson said about 80% of the private markets platform is fee-generating. Co-president, CFO and COO Matthew Nicholls put the blended fee near 65 basis points, plus performance fees.

Franklin Templeton Recasts Credit as One PlatformA Goldman Sachs analyst asked how public and private fixed income would work together. Johnson said that Franklin Templeton wants clients to view the business as one $620 billion platform, including more than $100 billion in private credit.

Johnson added that Brandywine and Putnam are integrated, while Western Asset is moving closer. Investment teams will retain independence while sharing resources and origination capabilities.

Co-president and chief commercial officer Daniel Gamba cited a new multi-asset credit mandate from a public pension. New offerings include a target-date strategy with 2-8% private market exposure.

BEN Pulls Forward the Margin TimelineAn Autonomous Research analyst sought fourth-quarter cost details. Nicholls guided to $850 million of compensation, $165 million for technology, $70 million of occupancy expense and $200 million of general and administrative expense.

Nicholls expects the fiscal fourth-quarter adjusted operating margin to approach 30%, with the full-year margin at least in the mid-27% range. The outlook assumes flat markets.

For fiscal 2027, Nicholls projected a 29-30% margin and at least 30% later in the year. Johnson called 30% a waypoint, while Nicholls put the industry range at 30-35%.

Franklin Shows AI in Commercial UseA Morgan Stanley analyst asked where AI was producing measurable returns. Johnson said that the Microsoft-linked Intelligence Hub increased client visits or contacts by 25% in deployed territories and lifted sales by more than 11%.

Johnson said that investment teams use more than 1,000 agents and are testing three strategies focused on research, portfolio construction and AI-driven investing. She stressed balancing adoption with operating costs.

Nicholls said that management tracks AI spending against productivity targets across front-office, risk and finance functions. Johnson added that operations teams apply AI to coding, RFP processing and due diligence.

BEN Keeps Capital Allocation OpportunisticA Goldman Sachs analyst asked about increased repurchases. Nicholls said that the company returned $521.5 million to shareholders, including $348.1 million in buybacks, while preserving capital for organic growth.

Nicholls stated that BEN has $3 billion of balance-sheet capital invested in funds, including $1.75 billion in private markets, and expects that amount to grow in fiscal 2027. Dividend growth and opportunistic repurchases remain priorities.

An Autonomous Research analyst raised platform fee pressure. Johnson called revenue-sharing negotiations normal industry practice and said the economics of newer wrappers such as ETFs and SMAs limit how high those fees can move.

Franklin’s Priorities Stay ConsistentJohnson closed with an emphasis on diversified organic growth. Long-term net inflows were $18.4 billion, assets under management reached $1.8 trillion, and the won-but-unfunded institutional pipeline rose to $28.6 billion.

Management is focused on scaling private markets, integrated credit, personalized portfolios and technology while maintaining expense discipline. The Aug. 17 corporate name change to Franklin Templeton, Inc. reinforces that unified model, with the BEN ticker unchanged.

Zacks Signals for BENBEN sports a Zacks Rank #1 (Strong Buy) at present, indicating favorable earnings estimate revisions and stronger near-term performance potential under the Zacks methodology. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Value Score of C, Growth Score of F, Momentum Score of D and VGM Score of D offer less support across the main trading styles, where A and B are preferred. The Zacks Rank can change as analyst estimates are revised after the results.

, /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced it has completed the sale of its NORESCO business to OPTERRA Energy Services, a subsidiary of LS Power.

Jefferies LLC served as financial advisor to Carrier. Akerman LLP served as external legal counsel.

About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit carrier.com or follow Carrier on social media at @Carrier.

Carrier. For the World We Share.

Cautionary Statement
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for Carrier's future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident," "scenario" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to the sale of Carrier's NORESCO business, expected uses of the net proceeds therefrom, strategies or transactions of Carrier, Carrier's plans with respect to its indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see Carrier's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Carrier assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

CARR-IR

Contact:

Media Inquiries 

Kristina Pantelides 

561-236-4241 

[email protected] 

Investor Relations

Michael Rednor

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SOURCE Carrier Global Corporation

Key Takeaways Vale raised 2026 iron ore cost guidance while accelerating copper projects and shareholder returns.Bacaba commissioning moved to Q3 2027, with copper output still targeted at about 700,000 tons by 2035.Vale cut 2026 freight spot exposure below 10% and raised 2027 fuel hedging to roughly 70% at about $77. Vale S.A. (VALE - Free Report) used its second-quarter 2026 earnings call to emphasize faster copper development, execution and shareholder returns, while acknowledging a higher iron ore cost base tied to currency, oil and freight assumptions.

Earnings of 36 cents per share missed the Zacks Consensus Estimate of 41 cents by 12.20%. Revenues of $10.49 billion topped the consensus estimate of $10.40 billion by 0.90%, but management focused the call on forward priorities.

VALE Raises Iron Ore Cost AssumptionsMarcelo Bacci, executive vice president of finance and investor relations, raised 2026 iron ore C1 cash cost guidance to $22.50-$23.50 per ton from $20-$21.50. He cited a stronger Brazilian real, higher diesel prices and inventory effects.

Bacci also lifted all-in cost guidance to $58-$62 per ton from $52-$56. The range assumes Brent crude at $86 per barrel and an exchange rate of 5.13 Brazilian reais per dollar.

The offset came from base metals. Bacci lowered copper all-in cost guidance to $0-$500 per ton and nickel guidance to $10,000-$11,500 per ton, citing operating improvements and stronger by-product economics.

Vale Accelerates the Copper PipelineGustavo Pimenta, chief executive officer, said Bacaba is scheduled to start commissioning in the third quarter of 2027, ahead of the prior first-half 2028 timetable. The 50,000-ton project was 39% complete at quarter-end.

Shaun Usmar, chief executive officer of Vale Base Metals, told a JPMorgan analyst that organizational changes, simpler capital allocation and tighter execution reduced Bacaba’s capital needs and improved returns.

Usmar told an Itaú BBA analyst that the discipline can be applied across the six-project pipeline, while stopping short of advancing Alemão’s timing. Management continues to target roughly 700,000 tons of annual copper production by 2035.

VALE Defends Its Freight StrategyRogério Nogueira, executive vice president of commercial and development, told a JPMorgan analyst that about 75% of Vale’s freight portfolio is secured under long-term time-charter contracts.

Nogueira said mini contracts of affreightment and freight derivatives reduced 2026 spot exposure to less than 10%. He confirmed to a Morgan Stanley analyst that second-half exposure also remains below 10%.

In response to Goldman Sachs, Nogueira said Vale increased 2027 fuel hedging to roughly 70%. Bacci, executive vice president of finance and investor relations, put the average Brent-equivalent hedge price at about $77 on a Brent-equivalent basis.

Vale Ties Payouts to Debt ProgressBacci, executive vice president of finance and investor relations, said second-half cash generation will determine the next capital-allocation decisions. He expects expanded net debt to approach the $15 billion reference level by year-end.

The board approved $1.7 billion in dividends and interest on capital for September and authorized a new buyback program covering up to 100 million shares over 18 months.

Bacci told an Itaú BBA analyst that the choice between additional buybacks and dividends will depend on cash flow, share price and tax considerations. He expects a decision later in the third quarter or early in the fourth.

VALE Sees Resilient Iron Ore DemandNogueira, executive vice president of commercial and development, told a Bank of America analyst that global pig iron production remained broadly stable, with improving demand outside China offsetting weaker Chinese indicators.

He said Chinese steel exports reached 55 million tons in the first half. At an iron ore price of $95 per ton and elevated freight and oil assumptions, Vale’s analysis placed about 120 million tons of supply near its cost limit.

Pimenta, chief executive officer, maintained confidence in full-year production guidance. He highlighted the July start of Serra Sul +20 and fourth-quarter commissioning of Compact Crushing, designed together to add 20 million tons of capacity and improve reliability.

Vale Keeps Execution at the CenterPimenta, chief executive officer, closed with an emphasis on production reliability, cost competitiveness, disciplined capital allocation and high-return growth. He also said Vale intends to remain substantially invested in copper.

Management was confident on controllable factors but direct about external cost pressure. The near-term agenda combines project delivery, efficiency, freight protection and balance-sheet discipline.

VALE’s Zacks Signals Stay CautiousVALE currently carries a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Its Momentum Score of A, Value Score of B and VGM Score of B are favorable, while the Growth Score of D is weaker.

The Style Scores complement rather than override the Zacks Rank, which reflects earnings-estimate revisions over a one-to-three-month horizon. The rank can change as analysts revise estimates after the newly reported results.

Qualys Enterprise TruRisk Management's (ETM) "scanless scanning," powered by Agent Insta, continuously correlates new advisories with asset, exposure and threat telemetry from Qualys and third-party sources detecting vulnerabilities at AI speed

, /PRNewswire/ -- Qualys, Inc. (NASDAQ: QLYS), a leading provider of disruptive cloud-based IT,security and compliance solutions, today announced InstaScan, powered by Agent Insta, a new capability within Qualys Enterprise TruRisk Management (ETM) that closes the gap between vulnerability disclosure and detection by transforming the asset telemetry organizations already collect into continuous exposure visibility.

InstaScan, powered by Agent Insta is a new capability within Qualys Enterprise TruRisk Management (ETM) The industry's detection clock broke in 2025. In the first seven months of 2026, 46,048 CVEs were published nearly matching the total for all of 2025. For the first time, Verizon's 2026 DBIR named vulnerability exploitation the leading breach entry point, accounting for 31% of breaches, and found that AI is compressing attacker timelines from months to hours. Qualys research shows the defender side: among KEV-linked vulnerability instances ultimately remediated, median detection-to-closure held at nine days, even as KEV-linked workload grew 78% year over year. Defenders' nine days now meet attackers' hours, while the queue grows faster than conventional, human-led programs can drain it. Waiting for the next scan window is no longer a delay. It is lost response time.

"Qualys InstaScan moves threat intelligence from telling you what already happened to detect exposure the moment it emerges; that's true proactive detection," said Theresa Lanowitz, principal cybersecurity analyst, Omdia. "As threat intelligence becomes a core variable in how organizations quantify risk, InstaScan gives Qualys a direct way to feed that signal into the platform."

InstaScan introduces scanless scanning, an innovative, autonomous vulnerability management capability within Qualys ETM. Powered by Agent Insta, a cyber risk agent leveraging AI to continuously monitor newly published vendor security advisories and threat intelligence from Qualys and trusted third-party sources, Agent Insta correlates emerging vulnerabilities with an organization's live inventory, telemetry and threat intelligence. It automatically identifies impacted assets and surfaces trusted detections within minutes.

Across its initial set of supported technologies, InstaScan covers 90 percent of detections within minutes. InstaScan powered by Agent Insta helps to:

Detect at the speed of disclosure — New vulnerabilities become visible within minutes of advisory publication which closes the exposure window before attackers can exploit them. Outpace the AI-accelerated threat landscape — Detection is triggered by new advisories and asset changes rather than fixed scan schedules, keeping exposure data continuously current and enabling remediation to begin while legacy scan windows are still waiting to open. Power autonomous defense — AI-normalized, confidence-scored detections provide trusted signals that downstream prioritization, validation and remediation workflows can immediately act on, accelerating the path from vulnerability disclosure to risk reduction. "The speed of vulnerability exploitation has fundamentally changed," said Sumedh Thakar, president and CEO of Qualys. "A slow vulnerability management program is now the biggest vulnerability an organization has. We're entering a new era of vulnerability, one where detection is continuous - driven by live intelligence instead of scan cycles. Built on the Qualys platform, InstaScan helps organizations identify and reduce risk the moment new vulnerabilities are disclosed."

InstaScan is the intelligence layer that powers continuous vulnerability detection across the Qualys platform. It correlates newly published advisories with the platform's existing inventory, exposure data and threat telemetry to deliver confidence-scored detections within minutes of disclosure. As the first step in a broader agent-driven detection-to-remediation workflow, InstaScan provides TruRisk with intelligence for more accurate prioritization, while giving validation and remediation workflows a trusted signal to act immediately. The result is a faster path from vulnerability disclosure to risk reduction.

Availability            
InstaScan is now available within Qualys ETM. Visit Qualys at Black Hat USA booth 2333 to experience InstaScan in action. Register for our webinar at brighttalk.com/webcast/11673/673558.

Read our blog post, Agent Insta: Closing the Detection Gap in Exposure Management at Machine Speed    Watch the InstaScan video  Register for the InstaScan scanless scanning webinar Book a meeting with Qualys at Black Hat Learn more about Qualys' ETM at qualys.com/etm Follow Qualys on LinkedIn, Instagram and X About Qualys 

Qualys, Inc. (NASDAQ: QLYS) is a leading provider of disruptive cloud-based security, compliance and IT solutions with more than 10,000 subscription customers worldwide, including a majority of the Forbes Global 100 and Fortune 100. Qualys helps organizations streamline and automate their security and compliance solutions onto a single platform for greater agility, better business outcomes, and substantial cost savings.

The Qualys Enterprise TruRisk Platform leverages a single agent to continuously deliver critical security intelligence while enabling enterprises to automate the full spectrum of vulnerability detection, compliance, and protection for IT systems, workloads and web applications across on premises, endpoints, servers, public and private clouds, containers, and mobile devices. Founded in 1999 as one of the first SaaS security companies, Qualys has strategic partnerships and seamlessly integrates its vulnerability management capabilities into security offerings from cloud service providers, including Oracle Cloud Infrastructure, Amazon Web Services, the Google Cloud Platform and Microsoft Azure, along with a number of leading managed service providers and global consulting organizations. For more information, please visit http://www.qualys.com.

Qualys, Qualys VMDR®, Qualys TruRisk and the Qualys logo are proprietary trademarks of Qualys, Inc. All other products or names may be trademarks of their respective companies. 

Media Contact:   
Rachel Yap Winship 
Qualys
[email protected]

SOURCE Qualys, Inc.

Wuthering Waves, the role-playing game, and Pizza Hut held a joint activity in Shanghai last year. (Photo credit should read CFOTO/Future Publishing via Getty Images)

CFOTO/Future Publishing via Getty Images

Yum China Holdings, one of the largest restaurant companies in mainland China and the operator of big KFC and Pizza Hut chains in the country, climbed 3.2% to close a near three- and-a-half-month high at the Hong Kong Stock Exchange today after it posted an increase in second quarter earnings and expressed optimism about the rest of the year.

Yum China’s stock has gained 5.2% in the past two sessions in Hong Kong since it posted a second-quarter earnings report on Thursday evening. Yum China’s New York-traded shares climbed by 3.7% to $48.18 on Friday, a near three-month high.

Total revenue in the second quarter increased by 13% from a year earlier to $3.1 billion, helped by the opening of a net 560 new stores. Net income increased 14% to $244 million -- the same percentage as the reported increase in operating profit. Spun off from Yum! Brands in 2016, Yum China had more than 19,000 stores as of June 30, including 18% run by franchisees.

Business in the second quarter notably improved at Pizza Hut, which is in focus ahead of the Yum China’s expected purchase of the brand in mainland China in August. “We are about to reach a major breakthrough by becoming the owner of the Pizza Hut brand in mainland China, after operating the brand in the market for 36 years,” CEO Joey Wat said in a statement.

“In the near term, we expect the savings in license fees to support margin expansion, with Pizza Hut's restaurant margin approaching KFC's. More potential new stores are expected to meet our payback requirements of two to three years. Over the longer term, brand ownership will give us greater strategic flexibility to capture new opportunities and innovate more nimbly across our menu, store formats, new business modules and operations. We expect this to accelerate Pizza Hut’s growth trajectory and generate sustainable long-term value for our shareholders,” said Wat, who ranked No. 68 on the 2025 Forbes Power Women list.

MORE FOR YOU

An 26% increase in delivery sales in the second quarter suggests Pizza Hut is competing better with rival Domino’s, said Shaun Rein, the founder and managing director of Shanghai-headquartered China Market Research Group and author of books including “The Split: Finding Opportunities in China’s Economy in the New World Older.”

“Pizza Hut has long been strong in dining but historically has been weaker compared to Domino’s at delivery. But new moves to reduce delivery times have made it strong in delivery and take back share from Domino’s,” Rein said. “Yum is also doing well with expanding its coffee line. Even though that means the average ticket price has dropped, volume has gone up as consumers look for cheaper coffee than Starbucks,” Rein said.

For the full year, Yum China is targeting a total of more than 20,000 stores, an increase of more than 1,900 from a year earlier, the company said in its earnings report.

Shares have also benefitted from stock buybacks and cash distributions. The company plans to return $1.5 billion to shareholders in 2026, about 10% of its current market capitalization.

Yum China has also attracted customers to KFCs over the years with a strong localized menu that includes tea eggs, salted egg yolk rice rolls, sweet pumpkin congee with lotus seeds, and red bean drink with sweet fermented rice.

ForbesTaiwan’s Formosa International Eyes Luxury Hotel Acquisition In U.S.By Russell FlanneryForbesChina Outlook ‘26: “I'm Getting Very Bullish”By Russell FlanneryForbes‘We’re Going To Get Lots Of Booms And Busts’ In AI StocksBy Russell Flannery

Did you analyze how Universal Display Corp. (OLED - Free Report) fared in its international operations for the quarter ending June 2026? Given the widespread global presence of this organic light-emitting diode technology company, scrutinizing the trends in international revenues becomes imperative to assess its financial strength and future growth possibilities.

The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and growth path. It has become essential for investors to comprehend how much a company relies on these foreign markets, as this understanding reveals the firm's potential for consistent earnings, its capacity to harness different economic cycles, and its overall growth prospects.

International market involvement serves as insurance against economic downturns at home and enables engagement with economies that are growing more quickly. Still, this move toward diversification is not without its challenges, as it involves navigating through the fluctuations of currencies, geopolitical threats, and the distinctive nature of various markets.

Upon examining OLED's recent quarterly performance, we noticed several interesting patterns in the revenue generated from its international segments, which are commonly analyzed and observed by Wall Street experts.

The company's total revenue for the quarter amounted to $152.16 million, marking a decrease of 11.4% from the year-ago quarter. We will next turn our attention to dissecting OLED's international revenue to get a clearer picture of how significant its operations are outside its main base.

A Closer Look at OLED's Revenue Streams AbroadOf the total revenue, $0.36 million came from Other Countries during the last fiscal quarter, accounting for 0.2%. This represented a surprise of +9.39% as analysts had expected the region to contribute $0.33 million to the total revenue. In comparison, the region contributed $0.29 million, or 0.2%, and $0.53 million, or 0.3%, to total revenue in the previous and year-ago quarters, respectively.

During the quarter, South Korea contributed $87.41 million in revenue, making up 57.5% of the total revenue. When compared to the consensus estimate of $105.76 million, this meant a surprise of -17.35%. Looking back, South Korea contributed $93.17 million, or 65.5%, in the previous quarter, and $86.52 million, or 50.4%, in the same quarter of the previous year.

China accounted for 38.8% of the company's total revenue during the quarter, translating to $59.09 million. Revenues from this region represented a surprise of +27.65%, with Wall Street analysts collectively expecting $46.29 million. When compared to the preceding quarter and the same quarter in the previous year, China contributed $43.64 million (30.7%) and $75.92 million (44.2%) to the total revenue, respectively.

Japan generated $0.21 million in revenues for the company in the last quarter, constituting 0.1% of the total. This represented a surprise of -44.47% compared to the $0.38 million projected by Wall Street analysts. Comparatively, in the previous quarter, Japan accounted for $0.37 million (0.3%), and in the year-ago quarter, it contributed $1.7 million (1%) to the total revenue.

Revenue Projections for Overseas MarketsIt is projected by analysts on Wall Street that Universal Display will post revenues of $162.84 million for the ongoing fiscal quarter, an increase of 16.6% from the year-ago quarter. The expected contributions from Other Countries, South Korea, China and Japan to this revenue are 0.2%, 64.7%, 31.4%, and 0.2%, translating into $0.36 million, $105.35 million, $51.1 million, and $0.37 million, respectively.

For the full year, the company is projected to achieve a total revenue of $649.5 million, which signifies a fall of 0.2% from the last year. The share of this revenue from various regions is expected to be: Other Countries at 0.2% ($1.37 million), South Korea at 65% ($422.09 million), China at 30.1% ($195.64 million), and Japan at 0.2% ($1.56 million).

Wrapping UpUniversal Display's leaning on foreign markets for its revenue stream presents a mix of chances and challenges. Therefore, a vigilant watch on its international revenue movements can greatly aid in projecting the company's future direction.

In a world where international interdependencies and geopolitical conflicts are ever-increasing, Wall Street analysts closely monitor these trends for companies having international presence to adjust their earnings forecasts. Of course, there are several other factors, including a company's standing within its home borders, that influence analysts' earnings forecasts.

At Zacks, a company's changing earnings outlook is given considerable attention due to its proven, strong influence on a stock's price performance in the near term. The connection here is straightforward and positive: when earnings estimates are revised upward, the stock price generally follows suit, increasing as well.

The Zacks Rank, our proprietary stock rating tool, comes with an externally validated impressive track record. It effectively utilizes shifts in earnings projections to act as a dependable barometer for forecasting short-term stock price trends.

Universal Display currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Examining the Latest Trends in Universal Display Corp.'s Stock ValueOver the preceding four weeks, the stock's value has appreciated by 1.9%, against an upturn of 0.2% in the Zacks S&P 500 composite. In parallel, the Zacks Computer and Technology sector, which counts Universal Display among its entities, has depreciated by 5.8%. Over the past three months, the company's shares have seen a decline of 12.6% versus the S&P 500's 4.2% increase. The sector overall has witnessed an increase of 1.6% over the same period.

Bloom Energy stock is taking a breather. Where is BE stock headed? What Is Bloom Energy’s Latest Quarterly Update?The latest quarterly update featured second-quarter revenue of $1.07 billion and adjusted EPS of 78 cents, both ahead of consensus expectations of $822.77 million and 40 cents. Management also lifted full-year 2026 revenue guidance to $3.90 billion to $4.20 billion and raised its adjusted EPS outlook to $2.55 to $2.85.

Bloom Energy’s tape is also being shaped by a debate over durability and performance claims after Hunterbrook pointed to 15 years of U.S. and South Korea generation data and alleged systems degrade faster than advertised.

In New York, the report calculated 37 metered systems fell below an efficiency benchmark at a median of 20 months, and said Bloom’s 95% output benchmark was missed almost universally across evaluated regions.

BE Stock: Key Technical Levels To WatchFrom a trend perspective, BE is still in a "pullback within a bigger uptrend" posture: it’s trading 10% below the 20-day SMA ($221.70), 23.5% below the 50-day SMA ($260.71), and 14.2% below the 100-day SMA ($232.50), but 11.6% above the 200-day SMA ($178.72). That mix often keeps shorter-term rallies choppy until price can reclaim at least the 20-day/100-day area.

RSI is the cleaner momentum read right now at 45.01, which points to neutral-to-soft momentum rather than an oversold "snapback" condition. In plain terms, RSI helps gauge whether recent buying or selling has become stretched; here it suggests sellers have cooled, but buyers haven’t fully taken control yet.

June marked the recent swing high (and the 52-week high at $351.28), while July set the recent swing low, so traders are watching whether the post-earnings narrative can rebuild a higher-low structure. With the stock up 470.11% over the past 12 months, the 200-day line remains the key longer-term "trend test" if volatility returns.

Key Resistance: $221.70 — the 20-day SMA is the nearest overhead trend line the stock would need to reclaim to improve the short-term tape Key Support: $178.72 — the 200-day SMA area is the main longer-term trend reference after the recent pullback Bloom Energy Benzinga Edge Rankings ExplainedBelow is the Benzinga Edge scorecard for Bloom Energy, highlighting its strengths and weaknesses compared to the broader market:

The Verdict: Bloom Energy’s Benzinga Edge signal reveals a classic High-Flyer setup—very strong Growth and Momentum paired with a weak Value score. For longer-term holders, the key question is whether fundamentals keep compounding fast enough to justify the premium while the chart works through its post-run consolidation.

Bloom Energy Stock Price Activity TodayBE Stock Price Activity: Bloom Energy shares were trading lower by 3.45% to $198.71 Monday morning, according to Benzinga Pro data.

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Integer (ITGR - Free Report) came out with quarterly earnings of $1.6 per share, beating the Zacks Consensus Estimate of $1.38 per share. This compares to earnings of $1.55 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +15.94%. A quarter ago, it was expected that this medical device outsource manufacturer would post earnings of $1.21 per share when it actually produced earnings of $1.2, delivering a surprise of -0.83%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Integer, which belongs to the Zacks Medical - Instruments industry, posted revenues of $464.11 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.58%. This compares to year-ago revenues of $476.49 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Integer shares have added about 54.5% since the beginning of the year versus the S&P 500's gain of 9.4%.

What's Next for Integer?While Integer has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Integer was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.66 on $458.79 million in revenues for the coming quarter and $6.04 on $1.82 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Instruments is currently in the bottom 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Sight Sciences, Inc. (SGHT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of +34.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Sight Sciences, Inc.'s revenues are expected to be $21.75 million, up 11.2% from the year-ago quarter.

For the quarter ended June 2026, Virtu Financial (VIRT - Free Report) reported revenue of $717.87 million, up 26.5% over the same period last year. EPS came in at $1.82, compared to $1.53 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $662.03 million, representing a surprise of +8.44%. The company delivered an EPS surprise of +8.33%, with the consensus EPS estimate being $1.68.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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

Average Daily - Adjusted Net Trading Income - Execution Services: $2.23 million versus the three-analyst average estimate of $2.37 million.Average Daily - Adjusted Net Trading Income: $11.58 million compared to the $10.75 million average estimate based on three analysts.Average Daily - Adjusted Net Trading Income - Market Making: $9.35 million versus $7.94 million estimated by two analysts on average.Adjusted Net Trading Income- Execution Services: $138 million compared to the $145.01 million average estimate based on four analysts.Adjusted Net Trading Income- Market Making: $579.87 million versus $517.02 million estimated by four analysts on average.View all Key Company Metrics for Virtu Financial here>>>

Shares of Virtu Financial have returned -4.9% over the past month versus the Zacks S&P 500 composite's +0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

The upcoming report from Toast (TOST - Free Report) is expected to reveal quarterly earnings of $0.32 per share, indicating an increase of 33.3% compared to the year-ago period. Analysts forecast revenues of $1.87 billion, representing an increase of 20.8% year over year.

Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

Given this perspective, it's time to examine the average forecasts of specific Toast metrics that are routinely monitored and predicted by Wall Street analysts.

The combined assessment of analysts suggests that 'Revenue- Financial technology solutions' will likely reach $1.55 billion. The estimate suggests a change of +21.2% year over year.

Analysts predict that the 'Revenue- Subscription services' will reach $283.46 million. The estimate indicates a change of +24.9% from the prior-year quarter.

The consensus estimate for 'Revenue- Hardware and professional services' stands at $44.25 million. The estimate points to a change of -5.9% from the year-ago quarter.

According to the collective judgment of analysts, 'Gross Payment Volume (GPV)' should come in at $60.31 billion. Compared to the current estimate, the company reported $49.90 billion in the same quarter of the previous year.

Based on the collective assessment of analysts, 'Locations' should arrive at 179,376 . The estimate compares to the year-ago value of 148,000 .

Analysts' assessment points toward 'Subscription Annualized Recurring Run-Rate' reaching $1.19 billion. The estimate compares to the year-ago value of $950.00 million.

Analysts expect 'Payments Annualized Recurring Run-Rate' to come in at $1.20 billion. The estimate compares to the year-ago value of $978.00 million.

It is projected by analysts that the 'Total Annualized Recurring Run-Rate (ARR)' will reach $2.39 billion. Compared to the present estimate, the company reported $1.93 billion in the same quarter last year.

View all Key Company Metrics for Toast here>>>

Shares of Toast have demonstrated returns of +12% over the past month compared to the Zacks S&P 500 composite's +0.2% change. With a Zacks Rank #3 (Hold), TOST is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Key Takeaways EPD's Q2 earnings rose 27.3% as equivalent pipeline volumes reached a record 14.7 MMBbl/d.EPD's NGL, crude oil, natural gas and petrochemical segments posted higher gross margins.Enterprise Products generated a record $2.83B in adjusted EBITDA and raised its quarterly distribution 2.8%. Enterprise Products Partners L.P. (EPD - Free Report) reported second-quarter 2026 earnings of 84 cents per unit, up 27.3% from 66 cents per unit a year earlier. The bottom line topped the Zacks Consensus Estimate of 75 cents per unit by 12%.

Revenues surged 60.8% to $18.3 billion from $11.4 billion in the prior-year quarter. The top line surpassed the consensus estimate of $13.6 billion by 34.56%.

The strong quarterly results were driven by increased international demand, higher marketing margins and record system activity.

Equivalent pipeline volumes rose 8% to a record 14.7 million barrels per day (bpd), up from 13.6 million bpd in the year-ago quarter.

EPD Benefits From Broad-Based Margin GrowthTotal gross operating margin increased $514 million to a record $3 billion. The improvement included a $77 million increase in unrealized mark-to-market gains on financial instruments used for hedging activities.

Management attributed the strong quarter partly to acute global demand for U.S. energy during April and May. The partnership generated about $200 million from incremental volumes and margins tied to this demand, with the contribution distributed across NGL, crude oil, petrochemicals and other operations. Those market differentials largely normalized afterward.

Enterprise Products’ NGL Operations StrengthenThe NGL Pipelines & Services segment generated gross operating margin of $1.6 billion, up from $1.3 billion a year earlier. Gross operating margin from natural gas processing and related NGL marketing increased to $512 million from $341 million.

Permian Basin processing volumes rose 14% to 4.3 billion cubic feet per day (Bcf/d). Higher processing margins and volumes lifted results in both the Midland and Delaware basins. NGL marketing also benefited from improved sales margins, higher sales volumes and favorable mark-to-market activity.

NGL pipeline volumes increased 8% to a record 4.9 million barrels per day (MMBbl/d). Fractionation volumes reached 1.9 MMBbl/d, aided by Frac 14, which entered service in the fourth quarter of 2025.

EPD Posts Record Crude & Gas ResultsCrude Oil Pipelines and Services gross operating margin increased to $485 million from $403 million. Texas crude oil pipelines, terminals and marketing benefited from higher sales volumes and margins, while the Seaway Pipeline gained from increased pipeline and marine terminal activity.

Crude oil pipeline volumes reached a record 3 MMBbl/d, while crude marine terminal volumes rose to 1.1 MMBbl/d. Seaway volumes benefited from exports of crude originating from the U.S. Strategic Petroleum Reserve.

Natural Gas Pipelines and Services delivered a record gross operating margin of $556 million, up from $417 million a year earlier. Higher natural gas marketing margins, improved transportation fees on the Texas Intrastate System and increased Permian gathering volumes supported the gain.

Enterprise Products Expands Petrochemical MarginsPetrochemical and Refined Products Services gross operating margin rose to $418 million from $354 million. Segment pipeline volumes increased to a record 1.2 MMBbl/d, while marine terminal volumes advanced to 422,000 barrels per day (Bbl/d).

The ethylene business benefited from higher export, sales and pipeline volumes. Propylene production increased 14% to a record 134,000 Bbl/d, driving higher sales volumes and margins. Improved octane enhancement sales margins also contributed to the segment’s performance.

EPD Generates Record Cash FlowAdjusted EBITDA increased 17% to a record $2.83 billion. Operational distributable cash flow rose 21% to $2.31 billion and provided 1.9 times the coverage of the second-quarter distribution. Enterprise Products retained $1.1 billion of distributable cash flow.

Adjusted cash flow from operations advanced 19% to $2.52 billion.

Enterprise Products’ Balance sheet & DividendTotal debt principal was $33.53 billion at quarter-end. Enterprise Products reported a 3.0X leverage ratio and $4 billion of liquidity, later supplemented by an incremental $1 billion short-term credit facility.

The partnership declared a quarterly distribution of 56 cents per unit, up 2.8% and repurchased $159 million of common units during the quarter.

EPD Advances Growth ProjectsEnterprise Products invested $1.2 billion during the quarter, including $1 billion in growth projects and $140 million in sustaining capital. It expects 2026 growth capital spending in the range of $2.9-$3.4 billion after applying about $600 million of asset-sale proceeds. Sustaining capital expenditures are projected at approximately $600 million.

The partnership has $6.5 billion of major projects under construction. Planned additions include two 300 million-cubic-feet-per-day Permian processing plants and the 150,000 Bbl/d Frac 15 facility. The Houston Ship Channel LPG export terminal expansion is expected to begin operations by year-end 2026.

Management expects growth capital expenditures to be around $3 billion in 2027, with more than 80% already committed to sanctioned projects. Despite higher planned investment, discretionary free cash flow for 2026 could still approach $1 billion.

EPD’s Zacks Rank & Key PicksEnterprise Products currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the energy sector are PBF Energy Inc. (PBF - Free Report) , HF Sinclair Corporation (DINO - Free Report) and Cactus, Inc. (WHD - Free Report) . PBF sports a Zacks Rank #1 (Strong Buy), while DINO and WHD carry a Zacks Rank #2 (Buy) each, at present. You can see the complete list of today’s Zacks Rank #1 stocks here.

PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05 per share.

As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million.

HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39 per share.

As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion.

Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents per share.

As of June 30, 2026, WHD had cash and cash equivalents of $365 million.

Posted by Defense World Staff on Aug 3rd, 2026

Farmers National Bank boosted its stake in shares of Eaton Corporation, PLC (NYSE:ETN – Free Report) by 78.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,360 shares of the industrial products company’s stock after acquiring an additional 5,433 shares during the quarter. Eaton comprises 1.0% of Farmers National Bank’s investment portfolio, making the stock its 27th biggest holding. Farmers National Bank’s holdings in Eaton were worth $4,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. PFA Pension Forsikringsaktieselskab purchased a new position in Eaton during the 4th quarter worth $97,989,000. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Eaton by 112.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 336,060 shares of the industrial products company’s stock valued at $120,199,000 after purchasing an additional 178,000 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich grew its holdings in Eaton by 24,986.3% during the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 154,281 shares of the industrial products company’s stock valued at $55,182,000 after buying an additional 153,666 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in Eaton by 23.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 310,859 shares of the industrial products company’s stock worth $99,012,000 after purchasing an additional 58,281 shares in the last quarter. Finally, Boston Trust Walden Corp grew its holdings in shares of Eaton by 1,560.4% during the first quarter. Boston Trust Walden Corp now owns 58,793 shares of the industrial products company’s stock worth $21,028,000 after buying an additional 55,252 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In A number of equities research analysts have recently commented on the company. Citigroup lifted their price objective on Eaton from $464.00 to $471.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Evercore set a $453.00 target price on shares of Eaton in a research note on Monday, May 11th. Weiss Ratings downgraded Eaton from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Wells Fargo & Company boosted their price objective on shares of Eaton from $350.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Barclays upped their target price on Eaton from $340.00 to $392.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $423.00.

Get Our Latest Research Report on Eaton

Eaton Trading Up 0.0% Eaton stock opened at $415.24 on Monday. Eaton Corporation, PLC has a 52-week low of $311.92 and a 52-week high of $436.74. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $161.24 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.65 and a beta of 1.18. The firm has a 50-day moving average price of $404.88 and a two-hundred day moving average price of $385.53.

Eaton (NYSE:ETN – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.15 EPS for the quarter, beating the consensus estimate of $3.08 by $0.07. Eaton had a net margin of 12.75% and a return on equity of 24.58%. The company had revenue of $8.53 billion for the quarter, compared to analyst estimates of $8.16 billion. During the same quarter last year, the business earned $2.95 earnings per share. Eaton’s revenue was up 21.4% compared to the same quarter last year. Eaton has set its Q3 2026 guidance at 3.460-3.560 EPS and its FY 2026 guidance at 13.400-13.600 EPS. Sell-side analysts expect that Eaton Corporation, PLC will post 13.44 earnings per share for the current year.

Eaton Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 7th. Eaton’s dividend payout ratio (DPR) is presently 43.01%.

Insider Activity In related news, Director Gerald Johnson bought 746 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were bought at an average cost of $402.29 per share, with a total value of $300,108.34. Following the completion of the transaction, the director directly owned 1,414 shares of the company’s stock, valued at approximately $568,838.06. This trade represents a 111.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dorothy C. Thompson sold 167 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $385.00, for a total value of $64,295.00. Following the sale, the director owned 1,096 shares in the company, valued at approximately $421,960. The trade was a 13.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,028 shares of company stock valued at $8,614,793 over the last quarter. Insiders own 0.10% of the company’s stock.

Key Headlines Impacting Eaton Here are the key news stories impacting Eaton this week:

Positive Sentiment: Quarterly results exceeded expectations. Eaton reported adjusted EPS of $3.15, up from $2.95 a year earlier and above the $3.08 consensus. Sales rose 21.4% year over year to approximately $8.5 billion, exceeding estimates near $8.16 billion. GAAP EPS was $2.11 after amortization, acquisition-related and restructuring charges. Eaton Q2 Earnings and Revenues Top Estimates Positive Sentiment: Electrical demand and data-center growth remain powerful catalysts. Management cited strong Electrical Americas performance, accelerating orders and backlog, data-center demand, acquisitions and solid Aerospace results. The company also raised its organic-growth outlook, signaling continued momentum in its core businesses. Eaton’s Q2 Earnings Beat on Strong Electrical Sales, Outlook Raised Positive Sentiment: Full-year guidance was raised above consensus. Eaton forecast FY 2026 adjusted EPS of $13.40-$13.60, compared with consensus of $13.34. Analysts at Zacks Research subsequently increased several 2027 and 2028 EPS estimates, reflecting confidence in longer-term earnings growth. Eaton Reports Record Second Quarter 2026 Results Neutral Sentiment: Near-term expectations are largely priced in. Third-quarter EPS guidance of $3.46-$3.56 centers on $3.51, approximately in line with consensus. Eaton’s valuation is also elevated, with a reported price-to-earnings ratio above 40, while unusually high put-option activity highlights some investor caution. Eaton Q2 2026 Earnings Call Transcript About Eaton (Free Report)

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

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MIAMI, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), the data and AI security leader, today announced Agent Intent-Based Access Control (IBAC), a new capability in Varonis Atlas that lets businesses connect AI agents to their enterprise data with safeguards that stop dangerous or out-of-policy behavior.

Agents are making headlines for going rogue, exposing sensitive company data and, in one case, deleting an entire production database.

Agents need broad access to data and tools to be useful, which is precisely what makes them risky, and role-based access control was never built to judge what a non-human identity does with the access it has.

"The question is no longer ‘Can a user access this data?’ but ‘In this context, should this agent be allowed to take action on this data?’" said Ron Bennatan, VP of AI and Data Security Strategy at Varonis. "We built Agent IBAC to give organizations assurance that their agents are acting as intended and not putting their business at risk."

How Agent IBAC Works

Agent IBAC checks whether an agent’s reasoning, tool use, and data access are consistent with its assigned instructions, and alerts on or blocks actions that do not align.

When an agent crosses the line, Atlas can quarantine the identity behind it and block everything that follows for a defined window.

Key Capabilities:

Intent drift detection: Compares the instruction an agent received to its reasoning, tool calls, and data access with lenient, balanced, and strict sensitivity settings.Full session evaluation: Reviews every prompt, response, and tool call in a session to catch risk that builds gradually, such as multi-turn jailbreak attempts. Customers can also define their own session policies in plain language.Quarantine: Blocks an identity or session after a violation for a window the customer sets, with admin controls to lift, extend, or make it permanent.Human in the loop: Routes a flagged action to a person for approval rather than blocking it outright.Complete audit trail: Records every prompt, response, and tool execution alongside the action Atlas took, for security, governance, and compliance teams. Agent IBAC works with the agents and AI tools organizations already run, including Claude Code, Cursor, GitHub Copilot, and Microsoft Copilot Studio. It is available today to Varonis Atlas customers and is part of the platform's broader approach to securing agents from code to runtime.

Additional Resources: 

Learn more about Agent IBAC.Request your Varonis Atlas demo. Visit our blog, and join the conversation on LinkedIn and YouTube.  About Varonis 
Varonis (Nasdaq: VRNS) secures AI and the data that powers it. The Varonis platform gives organizations automated visibility and control over their critical data wherever it lives and helps ensure safe and trustworthy AI from code to runtime. Backed by 24x7x365 managed detection and response, Varonis gives thousands of organizations worldwide the confidence to adopt AI, reduce data exposure, and stop AI-powered threats. 

Investor Relations Contact: 
Tim Perz 
Varonis Systems, Inc. 
646-640-2112 
[email protected]

News Media Contact: 
Rachel Hunt 
Varonis Systems, Inc. 
877-292-8767 (ext. 1598) 
[email protected]

Qusar includes Guidewire-built claims and underwriting agents, plus Developer Assistants that help developers ship features more than 40% faster than with generic coding assistants

, /PRNewswire/ -- Guidewire (NYSE: GWRE) today launched the Agentic Framework in its new Qusar release, enabling insurers to build, deploy, and manage AI agents on Guidewire Cloud Platform. The framework delivers value grounded in Guidewire's deep insurance context across the functions that matter most to the business throughout the insurance lifecycle. Paired with new capabilities across Guidewire's application portfolio, the Agentic Framework empowers carriers to protect indemnity margins, and elevate underwriting decisions, giving them the operational speed and precision to compete with confidence.

Qusar introduces the Agentic Framework, along with Guidewire-built Claims and Underwriting Agents and Developer Assistants purpose-built for Guidewire developers. The Agentic Framework enables insurance carriers to choose the right AI model for each task and provides AI agents with secure, real-time access to policy, claims, and billing data and workflows. This allows complex, multi-step processes to run automatically, so decisions that once took days can happen in minutes.

"Insurers are increasingly recognizing that AI value comes from deep integration with core business processes, not from isolated experimentation," said Karlyn Carnahan, Executive Partner, Celent. "Agentic Framework addresses this directly by letting insurers deploy AI within their existing systems and workflows while maintaining operational control and compliance."

Qusar also introduces Guidewire-developed agents designed for specific insurance workflows.

Claim Summarization for ProNavigator**: Provides adjusters claim summaries, allowing them to focus on complex resolutions instead of manual note review Policy Change for ProNavigator*: Serves as an embedded assistant that helps underwriters and customer service representatives complete policy changes faster, leading to quicker turnaround and improved quote-to-bind ratios Agentic First Notice of Loss (FNOL)**: Guides claimants through the first notice of loss using conversational AI voice, capturing key claim details to improve the customer experience "Guidewire AI innovations are helping us transform how we support our teams and serve our members," said Garrett Anderson, Chief Information Officer, Automobile Club of Southern California. "By using AI to summarize claims and streamline key insurance workflows, we're improving efficiency, helping our adjusters focus on higher-value work, and creating a stronger foundation for future innovation."

Qusar also introduces Guidewire Developer and Builder Assistants that understand the Guidewire code base, programming languages, design patterns, and configurations. For application development, Developer Assistants streamline work across Gosu (Java-compatible Guidewire programming language), Integrations, Jutro (Guidewire digital platform), and Functions (serverless extensions)*. For data and product work, Data Curation Assistant for Data Studio* converts plain language into precise SQL, while Product Design Assistant for Advanced Product Designer (APD)* helps automate insurance product configuration.

"By building the Agentic Framework directly into Guidewire Cloud Platform, we are giving developers and AI builders the tools to engineer and safely deploy insurance-aware AI agents into their daily operations," said Diego Devalle, Chief Product Development Officer, Guidewire. "Additionally, Developer Assistants help teams deliver solutions more than 40% faster than generic coding assistants*** by combining AI capabilities with the deep contextual knowledge embodied in our platform. Our customers and partners are already seeing the tangible benefits, using these tools to quickly build and deploy AI agents that support both developers and business users."

For more detailed information, please visit the Qusar webpage and the Qusar release blog.

Certain release features may not be available in all regions.

*

Indicates product feature is available for Early Access customers only.

**

Indicates product feature is available for Restricted Availability customers only.

***

Based on Guidewire internal productivity benchmarks comparing Guidewire Developer Assistants to generic coding assistants across standard configuration tasks.

About Guidewire

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. More than 570 insurers in 43 countries, from new ventures to the largest and most complex in the world, rely on Guidewire products. With core systems leveraging data and analytics, digital, and artificial intelligence, Guidewire defines cloud platform excellence for P&C insurers.

We are proud of our unparalleled implementation record, with 1,700+ successful projects supported by the industry's largest R&D team and SI partner ecosystem. Our marketplace represents the largest partner community in P&C, where customers can access hundreds of applications to accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on X and LinkedIn.

MEDIA CONTACT: Melissa Cobb, Director, Public Relations Guidewire Software, Inc. +1.650.464.1177, [email protected]

NOTE: For information about Guidewire trademarks, visit www.guidewire.com/legal-notices.

Cautionary Language Concerning 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, statements regarding the general availability of features, programs, services, and tools related to Qusar mentioned in this press release (including, without limitation, Agentic Framework, Developer Assistants, and Agentic FNOL). These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as expect, anticipate, should, believe, hope, target, project, goals, estimate, potential, predict, may, will, might, could, intend, variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Guidewire's control. Guidewire's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Guidewire's most recent Forms 10-K and 10-Q filed with the Securities and Exchange Commission as well as other documents that may be filed by Guidewire from time to time with the Securities and Exchange Commission. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: quarterly and annual operating results may fluctuate more than expected; seasonal and other variations related to our customer agreements and related revenue recognition may cause significant fluctuations in our results of operations, Annual Recurring Revenue (ARR), and cash flows; our reliance on sales to and renewals from a relatively small number of large customers for a substantial portion of our revenue and ARR; our making long-term pricing commitments in our customer contracts based on available information and estimates about our future costs that may change; our ability to successfully manage our business model, including achieving market acceptance of our cloud-based services and products and the costs related to cloud operations, cybersecurity, product development, and services; the timing, success, and number of professional services engagements and the billing rates and utilization of our professional services employees and contractors; the impact of global events (including, without limitation, ongoing global conflicts, inflation, high interest rates, economic volatility, bank failures and associated financial instability, and supply chain issues) on our employees, our business, and the businesses of our customers, system integrator (SI) partners, and vendors; data security breaches of our cloud-based services and products or unauthorized access to our employees' or our customers' data; our competitive environment and changes thereto; issues in the development and use of artificial intelligence and machine learning combined with an uncertain regulatory environment; use of AI by our workforce may present risks to our business; errors or failures in our products or services, as well as service interruptions or failure of the third-party service providers we rely on; our services revenue produces lower gross margins than our license, subscription and support revenue; our product development and sales cycles are lengthy and may be affected by factors outside of our control; the impact of new regulations and laws (including, without limitation, security, privacy, artificial intelligence and machine learning, tax regulations and laws, and accounting standards); assertions by third parties that we violate their intellectual property rights; weakened global economic conditions may adversely affect the P&C insurance industry, including the rate of information technology spending; our ability to sell our services and products is highly dependent on the quality of our professional services and SI partners; the risk of losing key employees; the challenges of international operations, including changes in foreign exchange rates; and other risks and uncertainties. Past performance is not indicative of future results. The forward-looking statements included in this press release represent Guidewire's views as of the date of this press release. Guidewire anticipates that subsequent events and developments will cause its views to change. Guidewire undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Guidewire's views as of any date subsequent to the date of this press release.

SOURCE Guidewire Software

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- The Board of Directors of MSA Safety Incorporated (NYSE: MSA) today declared a third quarter dividend of $0.54 per share on common stock, payable September 10, 2026, to shareholders of record on August 14, 2026.

The Board also declared a dividend of $0.5625 per share on preferred stock, payable September 1, 2026, to shareholders of record on August 14, 2026.

About MSA Safety

MSA Safety Incorporated (NYSE: MSA) is the global leader in advanced industrial safety technology products and solutions. Driven by its singular mission of safety, the company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2025 revenues of $1.9 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania, and employs a team of approximately 5,300 associates across its more than 40 international locations. For more information, please visit www.MSASafety.com.

SOURCE MSA Safety

Also from this source

Cetera Investment Advisers boosted its position in Domino’s Pizza Inc (NASDAQ:DPZ – Free Report) by 23.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,963 shares of the restaurant operator’s stock after acquiring an additional 2,991 shares during the period. Cetera Investment Advisers’ holdings in Domino’s Pizza were worth $5,728,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Berkshire Hathaway Inc raised its stake in shares of Domino’s Pizza by 12.3% during the fourth quarter. Berkshire Hathaway Inc now owns 3,350,000 shares of the restaurant operator’s stock valued at $1,396,347,000 after acquiring an additional 368,055 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Domino’s Pizza by 0.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,008,278 shares of the restaurant operator’s stock worth $837,091,000 after purchasing an additional 7,497 shares during the last quarter. State Street Corp grew its stake in shares of Domino’s Pizza by 3.8% in the fourth quarter. State Street Corp now owns 1,368,924 shares of the restaurant operator’s stock worth $570,595,000 after purchasing an additional 49,613 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Domino’s Pizza by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,026,391 shares of the restaurant operator’s stock worth $432,033,000 after purchasing an additional 19,019 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Domino’s Pizza by 4.5% during the 4th quarter. Invesco Ltd. now owns 961,000 shares of the restaurant operator’s stock valued at $400,564,000 after purchasing an additional 41,170 shares during the period. Hedge funds and other institutional investors own 94.63% of the company’s stock.

Domino’s Pizza News Summary Here are the key news stories impacting Domino’s Pizza this week:

Positive Sentiment: Zacks raised its Q3 2026 EPS estimate to $4.25 from $4.22, increased its Q4 2026 forecast to $6.00 from $5.98, and lifted its Q2 2027 estimate to $4.55 from $4.42. These revisions point to slightly stronger expectations for portions of the near-term earnings outlook. Domino’s Pizza analyst estimate report Neutral Sentiment: The current-year consensus EPS estimate remains approximately $18.90, while Zacks projects FY2026 EPS of $18.44. The small differences indicate that the revisions are unlikely to materially change the immediate earnings narrative on their own. Negative Sentiment: Zacks lowered its Q3 2027 EPS estimate to $4.64 from $4.79, cut Q4 2027 to $6.81 from $6.84, and reduced Q1 2028 to $4.58 from $4.60. It also lowered FY2026 EPS to $18.44 from $18.59, leaving the forecast below the current consensus. Negative Sentiment: The largest revision was to FY2028 EPS, which fell to $21.58 from $22.34. That reduction implies weaker longer-term earnings growth than previously expected and may be contributing to investor caution, particularly with the stock trading near its 200-day moving average. Analysts Set New Price Targets DPZ has been the subject of a number of recent analyst reports. Oppenheimer lowered their price target on Domino’s Pizza from $465.00 to $415.00 and set an “outperform” rating for the company in a research report on Tuesday, July 21st. Jefferies Financial Group reduced their target price on Domino’s Pizza from $400.00 to $350.00 and set a “hold” rating on the stock in a research note on Tuesday, April 28th. BTIG Research restated a “buy” rating and set a $425.00 target price on shares of Domino’s Pizza in a report on Tuesday, July 21st. The Goldman Sachs Group decreased their target price on Domino’s Pizza from $480.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Finally, Northcoast Research dropped their price target on Domino’s Pizza from $525.00 to $445.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Eighteen analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $402.16.

Check Out Our Latest Stock Report on Domino’s Pizza

Domino’s Pizza Price Performance DPZ stock opened at $347.44 on Monday. Domino’s Pizza Inc has a 1 year low of $282.00 and a 1 year high of $477.00. The firm has a 50-day moving average of $314.47 and a 200 day moving average of $353.06. The company has a market cap of $11.49 billion, a P/E ratio of 19.71, a PEG ratio of 1.67 and a beta of 0.94.

Domino’s Pizza (NASDAQ:DPZ – Get Free Report) last posted its quarterly earnings data on Monday, July 20th. The restaurant operator reported $4.07 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.10). The firm had revenue of $1.19 billion for the quarter. Domino’s Pizza had a net margin of 11.86% and a negative return on equity of 15.15%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.81 earnings per share. On average, equities research analysts expect that Domino’s Pizza Inc will post 18.88 earnings per share for the current fiscal year.

Domino’s Pizza Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $1.99 dividend. This represents a $7.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 15th. Domino’s Pizza’s dividend payout ratio (DPR) is presently 45.15%.

Insider Buying and Selling In related news, EVP Kelly E. Garcia sold 12,430 shares of the company’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $322.04, for a total value of $4,002,957.20. Following the sale, the executive vice president directly owned 9,352 shares of the company’s stock, valued at $3,011,718.08. This represents a 57.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Russell J. Weiner sold 10,850 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of $330.83, for a total value of $3,589,505.50. Following the completion of the transaction, the chief executive officer owned 43,829 shares of the company’s stock, valued at approximately $14,499,948.07. This trade represents a 19.84% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 24,742 shares of company stock valued at $8,041,746. 0.89% of the stock is currently owned by company insiders.

Domino’s Pizza Company Profile (Free Report)

Domino’s Pizza, Inc (NASDAQ: DPZ) is a global pizza delivery and carryout chain founded in 1960 and headquartered in Ann Arbor, Michigan. The company specializes in a broad range of hand‐crafted pizzas, including hand-tossed, thin crust and specialty offerings, alongside side items such as chicken wings, sandwiches, pasta, desserts and beverages. Domino’s has built its brand on convenience and speed, leveraging proprietary ordering platforms and its Domino’s Tracker system to provide real-time status updates from order placement through delivery.

Operating predominantly under a franchise model, Domino’s has more than 17,000 stores worldwide, with approximately 95% of outlets owned and operated by independent franchisees.

Recommended Stories Five stocks we like better than Domino’s Pizza 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story AbbVie Quietly Solved Its Biggest Problem—Now What? Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade Strategy’s Structural Strength: Hidden in a $8 Billion Illusion Want to see what other hedge funds are holding DPZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Domino’s Pizza Inc (NASDAQ:DPZ – Free Report).

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August 03, 2026 08:00 ET  | Source: Altimmune, Inc

Global registrational study designed to evaluate pemvidutide on fibrosis improvement, MASH resolution, and clinical outcomes 

Initiation marks advancement of Altimmune's lead program into late-stage development following positive IMPACT Phase 2b data

GAITHERSBURG, Md., Aug. 03, 2026 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a late clinical-stage biopharmaceutical company focused on serious liver diseases, today announced that the company has begun enrolling patients in the PERFORMA Phase 3 trial evaluating the efficacy and safety of pemvidutide in patients with metabolic dysfunction-associated steatohepatitis (MASH). Pemvidutide is an investigational balanced glucagon/GLP-1 dual receptor agonist also in development for the treatment of alcohol use disorder (AUD) and alcohol-associated liver disease (ALD).

The PERFORMA trial is a global, Phase 3, randomized, double-blind, placebo-controlled study evaluating the efficacy, safety, and clinical outcomes of pemvidutide in MASH patients with moderate to advanced fibrosis. PERFORMA is Altimmune's registrational study for pemvidutide in MASH and will assess the effects of treatment on fibrosis improvement and MASH resolution as well as clinical outcomes. The trial follows positive findings from the IMPACT Phase 2b study and incorporates feedback from the U.S. Food and Drug Administration (FDA) and European regulatory agencies. The 52-week data readout from the trial is anticipated in 2029.

"The body of evidence, including favorable safety and tolerability, generated from the IMPACT Phase 2 trial supports the potential of pemvidutide as we advance into the PERFORMA Phase 3 trial," said Christophe Arbet-Engels, M.D., Ph.D., Chief Medical Officer of Altimmune. "With the balanced one-to-one glucagon/GLP-1 receptor agonism providing direct effects on the liver, as well as metabolic benefits, pemvidutide may offer an important new treatment option for patients with MASH and serious liver diseases. We look forward to evaluating pemvidutide in a registrational setting."

“Initiating the PERFORMA Phase 3 trial is a key milestone for Altimmune and for the advancement of MASH treatment. We’re building momentum across our pemvidutide program in multiple indications, including the recently announced positive RECLAIM Phase 2 data in AUD. We remain focused on pemvidutide’s potential differentiation as we advance our franchise,” said Jerry Durso, Chief Executive Officer and Chairman of the Board of Altimmune. “In just three months, we moved from securing funding for PERFORMA to initiating the trial, reinforcing Altimmune’s commitment to execute with speed and efficiency.”

In the IMPACT Phase 2b study, pemvidutide demonstrated statistically significant MASH resolution rates, improvements in non-invasive measures of fibrosis and liver health, meaningful weight loss, and a generally favorable tolerability profile. The FDA granted Fast Track Designation and Breakthrough Therapy Designation to pemvidutide for the treatment of MASH.

MASH affects millions of individuals worldwide and is a leading cause of liver fibrosis, cirrhosis, liver transplantation, and liver-related mortality. More than 80% of patients with MASH are overweight or obese, highlighting the importance of therapies that address both liver disease and underlying metabolic dysfunction.

“MASH is a complex disease, and as clinicians, we need therapies that can effectively address both liver disease and the broader metabolic dysfunction that contributes to long-term health risks,” said Naim Alkhouri, MD, Chief Medical Officer, Summit Clinical Research and a principal investigator of the PERFORMA trial. “The initiation of PERFORMA is exciting because it will allow us to evaluate whether the broad improvements observed with pemvidutide in earlier studies can translate into meaningful outcomes for a larger population of patients with MASH.”

About the PERFORMA Phase 3 Study

The PERFORMA trial is a global, randomized, double-blind, placebo-controlled, parallel-group Phase 3 study evaluating the efficacy and safety of pemvidutide in adults with metabolic dysfunction-associated steatohepatitis (MASH) and confirmed moderate to advanced liver fibrosis (F2–F3). The study is an event-driven study with an interim analysis to support the accelerated approval. The study includes two parallel cohorts; Cohort 1 will enroll approximately 990 patients and is designed to support the accelerated approval pathway based on a biopsy-assessed primary efficacy endpoint of MASH resolution and/or fibrosis improvement at 52 weeks. A second cohort will enroll approximately 800 patients with fibrosis as evidenced through non-invasive tests (NITs) to add to the safety dataset. The study incorporates a simple, 1- or 2- step monthly dose titration from 1.2mg to the 1.8mg or 2.4mg trial doses, respectively, to further improve tolerability. The PERFORMA trial will integrate the FDA-qualified AIM-MASH AI Assist tool to help standardize histological assessment of liver biopsy samples. Both cohorts will support the final regulatory approval which will be based on liver-related events at ~60 months.

About Pemvidutide

Pemvidutide is a novel, investigational peptide with balanced 1:1 glucagon/GLP-1 dual receptor agonist activity that has an effect on reducing liver fat, inflammation, and fibrosis, in development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder (AUD), and alcohol-associated liver disease (ALD). The activation of glucagon receptors results in direct effects on the liver, while GLP-1 receptors mediate metabolic effects such as appetite suppression and weight loss and are involved in pathways related to craving and reward.

The FDA granted Fast Track designations to pemvidutide for the treatment of MASH and AUD, as well as Breakthrough Therapy Designation for MASH. In December 2025, the Company announced topline 48-week data from the IMPACT Phase 2b trial in MASH. In July 2026, the Company announced topline results from the RECLAIM Phase 2 trial in AUD. The RESTORE trial in ALD was initiated in July 2025, and enrollment completion is expected in the third quarter 2026. The PERFORMA Phase 3 trial, a global, randomized, double-blind, placebo-controlled, parallel-group study of pemvidutide in patients with MASH was initiated in August 2026.

About Altimmune

Altimmune is a late clinical-stage biopharmaceutical company developing therapies for patients with serious liver diseases. The Company’s lead candidate, pemvidutide, is a unique dual-action investigational therapy targeting both glucagon and GLP-1 receptors in a balanced 1:1 ratio in development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder (AUD), and alcohol-associated liver disease (ALD). For more information, please visit www.altimmune.com.

Forward-Looking Statements

This press release has been prepared by Altimmune, Inc. ("we," "us," "our," "Altimmune" or the "Company") and includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the timing of key milestones for our clinical assets, the performance of our drug candidates in ongoing and future clinical trials including the RECLAIM trial, the ongoing RESTORE trial and PERFORMA trial, evaluating pemvidutide in patients with MASH, AUD and ALD, the potential benefits of Fast Track and Breakthrough Therapy Designations and the prospects for regulatory approval, commercializing, market size, market potential, competitive landscape, or selling any product or drug candidates. In addition, when or if used in this presentation, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict,” “potential”, “suggest” and similar expressions and their variants, as they relate to the Company may identify forward-looking statements. The Company cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including risks such as delays in regulatory review, manufacturing and supply chain interruptions, access to clinical sites, enrollment, adverse effects on healthcare systems and disruption of the global economy; patient baseline characteristics which may vary and impact the success of future trials; the reliability of the results of studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates; the Company’s ability to manufacture clinical trial materials on the timelines anticipated; whether the FDA will agree with the Company's proposed development and regulatory strategy for pemvidutide in AUD, including following any End-of-Phase 2 meeting; the risk that results from the RECLAIM trial may not be predictive of results in the RESTORE trial, the PERFORMA trial, or any other future or larger clinical trial; the Company's need for substantial additional capital to complete development of pemvidutide, which may not be available on acceptable terms or at all; competition from other companies developing treatments for MASH, AUD and ALD; and the success of future product advancements, including the success of current and future clinical trials. Further information on the factors and risks that could affect the Company's business, financial conditions and results of operations are contained in the Company’s filings with the U.S. Securities and Exchange Commission, including under the heading “Risk Factors” in the Company’s latest annual report on Form 10-K, quarterly report on Form 10-Q and our other filings with the SEC, which are available at www.sec.gov.

Investor Contact:
Luis Sanay, CFA
Vice President, Investor Relations
[email protected]

Media Contact:
Real Chemistry
[email protected]

Shares of Circle Internet Group fell sharply in premarket trading on Monday after Morgan Stanley downgraded the stablecoin issuer, while TD Cowen initiated coverage with a bullish rating, highlighting a growing divide on Wall Street over the company's long-term prospects.

Circle stock declined 6% to $58.81 in premarket trading following the contrasting analyst calls. 

Meanwhile, Bitcoin traded 0.64% lower over the past 24 hours at $62,625.

Morgan Stanley cut its rating on Circle to Underweight from Equal Weight and slashed its price target to $38 from $106, while TD Cowen began coverage with a Buy rating and an $82 price target, implying significant upside from current levels.

Morgan Stanley's downgrade was driven by expectations that the circulation of USDC, Circle's dollar-pegged stablecoin, will grow more slowly than previously anticipated.

The brokerage reduced its forecasts for USDC circulation in 2027 and 2028 by 33% and 44%, respectively, challenging Circle's target of achieving average annual growth of 40% across market cycles.

"USDC has effectively not grown" since the third quarter of last year, analysts noted. 

The brokerage added that broader adoption has yet to materialize as "utility beyond remittances and stablecoin-linked card spending has yet to gain meaningful traction."

Morgan Stanley argued that while payment companies including Mastercard and Stripe have increasingly embraced stablecoin technology, practical adoption remains limited.

Citing McKinsey data, the brokerage said stablecoin transaction volume reached about $35 trillion in 2025, but only around $390 billion represented identifiable real-world payments. 

Analysts added that payment activity remains concentrated in cross-border business transactions, remittances and stablecoin-linked card spending.

"Stablecoin activity remains overwhelmingly skewed toward crypto trading and transfer activity rather than payments. McKinsey estimates roughly $35 trillion of adjusted volume, of which only $390 billion represents identifiable payments (which will still think may be optimistic), or roughly 0.5% of unadjusted activity and about 1% of adjusted activity," Morgan Stanley analyst James Faucette wrote.

He added, "While there are real and growing use cases in cross-border B2B and consumer remittances (including stablecoin-linked card spending) that are driving transaction velocity, they have not yet demonstrated the ability to create the durable balances or recurring transaction economics needed to offset pressure on Circle's reserve-income model."

TD Cowen took a more optimistic view, launching coverage with a Buy rating and an $82 price target.

The brokerage said, "We see a compelling combination of attractive growth + diversification via USDC circulation, rapidly growing high-margin fee-based revenues & Arc optionality and think the Street underestimates the evolution into a platform player."

Analyst Bryan Bergin believes Circle's business is expanding beyond stablecoin issuance into a broader financial infrastructure platform that covers payments, treasury services, tokenized real-world assets, interoperability, and developer services.

Bergin also described Circle as "an attractive vehicle for investors seeking exposure to the institutionalization of stablecoins and the modernization of global financial infrastructure."

Analysts remain divided on CircleCircle shares have struggled throughout 2026, falling 21% year to date compared with a 9.4% gain for the broader market. Bitcoin has declined 28% over the same period.

The stock has also faced pressure from uncertainty surrounding the proposed Clarity Act, legislation intended to establish a regulatory framework for the cryptocurrency industry.

Analyst opinion remains closely split. 

According to LSEG data, 16 of the 30 analysts covering Circle rate the stock Hold or Sell, while the remaining 14 recommend Buy or Strong Buy.

The contrasting views underscore differing expectations for the pace of stablecoin adoption, the future growth of USDC and Circle's ability to evolve into a broader financial infrastructure platform as the regulatory landscape continues to develop.

Storage and memory stocks had experienced pullbacks amid broad macroeconomic jitters and valuation concerns surrounding artificial intelligence (AI) hardware trades. Then came Seagate Technology (STX +0.52%) with a strong fourth-quarter, beat-and-raise performance, lifting the stock by more than $100 between its close on July 28, when it announced earnings, and its close on July 30.

Because Seagate and Western Digital (WDC +2.21%) operate as a tight duopoly in the high-capacity, hard disk drive (HDD) market, Seagate's performance offers clear visibility into the underlying health of the data storage industry and Western Digital's own performance.

That's good news for investors in Western Digital, which reports its Q4 results on Aug. 5. Its shares rose 15% between the stock's close on July 28 and its close on July 30. Here are three reasons why Western Digital's stock could jump higher after it reports earnings, and one reason it won't:

Image source: Getty Images.

Seagate blew past analysts' consensus estimates Seagate reported a 48% year-over-year Q4 revenue surge, driven primarily by cloud data centers and hyperscalers purchasing high-capacity nearline drives for AI workloads. Management noted that customers are securing capacity commitments well into future years. This directly dispels recent market concerns about a potential slowdown in AI infrastructure spending, confirming that hyperscaler demand for mass-capacity storage remains exceptionally robust, a trend that directly benefits Western Digital's enterprise HDD division.

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Western is forecasting Q4 revenue of $3.65 billion, representing a year-over-year gain of 36.5%. It also said it expects non-GAAP gross margin of 51.5%, up 1,020 basis points from the same quarter a year ago, and non-GAAP earnings per share (EPS) of $3.25, up 95.8%, year over year. If it can reach or exceed those numbers, investors will buy rather than sell on the news.

The stock is still off its 52-week highs While Western Digital is trading at slightly more than 31 times trailing earnings, it's actually not that high considering that Seagate's valuation is nearly double that level. Western, despite its recent share run-up, is still trading at a discount to its 52-week high of $799.87, showing there's still plenty of room for the stock to climb.

Seagate's fiscal 2027 Q1 earnings guidance of $4.1 billion, give or take $100 million, and non-GAAP EPS of $7.10 to $7.50, help to reset investor confidence across the entire data storage sector. This rally elevates baseline expectations and provides a favorable tailwind for Western Digital. It's important to note that concerns about high AI spending haven't prevented hyperscalers from buying data storage HDDs from Western Digital and Seagate.

Accelerating free cash flow and capital returns Western Digital's operational execution is generating substantial cash, as evidenced by nearly $1 billion in free cash flow in the fiscal third quarter. This strong cash profile reinforces financial strength, supports ongoing capital returns such as cash dividends, and gives management the flexibility to continue paying down debt. Strong cash-flow growth frequently acts as a primary trigger for institutional investors to rerate a stock post-earnings.

One reason to worry: A high bar has been set The primary risk facing Western Digital heading into the earnings announcement is that much of the optimism may already be priced into the stock. Shares have experienced a substantial rally leading into late July, setting an exceptionally high bar for performance.

If Q4 results merely meet expectations rather than significantly exceeding them, or if management provides conservative forward guidance due to broader macroeconomic uncertainties or cyclical risks in the consumer storage market, investors could seize the opportunity to take profits, leading to a pullback despite solid core numbers.

Apple (AAPL -7.35%) just reported its best third quarter in five years.

Net sales grew 16.4% year over year, largely thanks to a 21.7% increase in iPhone sales and an 18.1% overall increase in product sales. It marked the first Q3 since fiscal 2021 when products outpaced services growth.

But despite the strong results, Apple fell 7.4% on July 31 -- losing $426 billion in market cap in just two days. Here's what Wall Street didn't like about Apple's results, and if the tech stock is a good buy now.

Image source: The Motley Fool.

Products take the spotlight Demand for Apple's products surged during the pandemic as consumers shifted spending toward discretionary goods rather than services or experiences. But as you can see in the table, Apple's Q3 product sales went practically nowhere for years -- that is, until the jump we just saw in Q3 fiscal 2026.

Net Sales ($Billions)

Q3 Fiscal 2019

Q3 Fiscal 2020

Q3 Fiscal 2021

Q3 Fiscal 2022

Q3 Fiscal 2023

Q3 Fiscal 2024

Q3 Fiscal 2025

Q3 Fiscal 2026

Products

$42.35

$46.53

$63.95

$63.36

$60.58

$61.56

$66.61

$78.68

Services

$11.46

$13.16

$17.49

$19.6

$21.21

$24.21

$27.42

$30.74

Data source: Apple.

By comparison, services have been consistently growing in the double digits. Services include cloud storage via iCloud, Apple Card, Apple Pay, and digital subscriptions such as Apple Music, Apple TV, Apple One, and more.

Services have been an excellent, high-margin category for Apple and a way to increase the stickiness of its integrated ecosystem. But at the end of the day, Apple still relies on product sales. And seeing product sales jump is a clear signal that Apple is entering a new upgrade cycle.

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Apple's "100-year flood" In June, Apple raised prices on Mac, iPad, Apple TV, HomePod, and Vision Pro due to surging memory chip costs. Tim Cook addressed the reason for these price increases on the July 30 earnings call:

On the pricing front, we reluctantly raised prices, I would say. We did it because we're in what I would characterize as a 100-year flood on the memory pricing, with exponential increases in memory prices.

Some investors may be fearing that price increases are pulling forward demand for existing Apple product inventory ahead of the annual September new iPhone 18 Pro release. And the other risk is that consumers, who are already dealing with inflationary pressures from higher living costs -- such as food, gas, and shelter -- may resist higher product prices.

Wells Fargo analyst Aaron Rakers asked Apple management on the July 30 earnings call whether it was seeing a pull-forward in demand from the consumer, enterprise, or education markets, and if that's factoring into Apple's outlook. To which Tim Cook responded:

You're talking about on iPhone, I assume, in general. We've been running at this 22% growth rate for the last while. For this cycle has been a 22% increase year to date. It's not obvious, I would say. It's not obvious in the data that what you're asking is true. Obviously, we've now had to increase prices on iPad and Mac, the price elasticity there, it's just too early to come to a definitive conclusion of what happens there.

The 22% Cook is referring to is Apple's iPhone revenue for the nine months ended June 27, 2026 -- which is up 22.4% -- roughly matching the three months ended June 27, 2026 year-over-year growth rate of 21.7%. So while Cook isn't dismissing the notion that demand is being pulled forward, it's also clear that the latest quarter more so matches trends Apple was already seeing this fiscal year in the quarters before it announced price increases in June.

That being said, Apple's weak guidance of just 9% to 11% year-over-year net sales growth for fourth quarter fiscal 2026 seems to indicate that some demand could have been pulled forward. Or, at the very least, Apple is cautious about consumer demand heading into the iPhone 18 Pro launch in September, followed by its hottest quarter of the year, which tends to be the first quarter of Apple's fiscal year (the quarter ending in late December).

Alleviating cost pressures Apple's rising costs is argubaly an even bigger concern than its weak revenue guidance. On the July 30 earnings call, Apple noted that the primary bottleneck is getting the microchips needed to handle the processing, graphics, and artificial intelligence (AI) functions on its devices. But because demand was better than expected, Apple's supply chain is arguably even more constrained now than it was before, which could lead to margin pressure.

Cook said the following on the July 30 earnings call:

The supply chain just has less flexibility in it than normal. We've been pulling supply ahead. At some point, there's a limit to that.

Arguably, the biggest near-term risk for Apple is that it would have to absorb much of these higher costs because it has already raised prices and consumers are spread thin. But one way to counteract some of that pressure is to make new product purchases more affordable.

Apple's new leasing program, facilitated by Klarna, will cost as little as $17.99 per month. Buy now, pay later options, paired with multi-year service contracts that carriers already offer, can help reduce price increases and drum up demand for upcoming products, such as a foldable iPhone, smart glasses, and an AI-powered pendant.

Granted, these programs are a form of leverage on consumer balance sheets. And too much reliance on buy now, pay later is a red flag for the broader economy. But it's a smart move by Apple to navigate a difficult period in its supply chain while protecting its margins.

Apple's investment thesis remains intact Even after its sell-off, Apple is far from a cheap stock at 35.3 times earnings. However, the growth stock remains a good buy for investors who believe Apple can overcome its supply chain challenges and capitalize on AI without drastically increasing capital expenditures (capex).

AI tools will operate on Apple's devices. So Apple doesn't need to spend boatloads of capex developing its own AI models. Rather, it can cater to user preferences by offering a suite of options and collecting fees in the process. So AI will fuel a product upgrade cycle and new product development. And when paired with double-digit services growth and stock buybacks, Apple's earnings will accelerate, justifying its premium valuation.

There are plenty of other AI stocks with greater growth potential than Apple. But Apple benefits from AI while still generating gobs of free cash flow, making it arguably one of the most well-rounded AI stocks to buy now.

First Graphene Ltd (ASX:FGR, OTCQB:FGPHF) expanded its international commercial footprint during the June 2026 quarter, securing immediate revenue from newly acquired US assets and opening a potentially substantial route into China’s cement and concrete market.

The advanced materials company completed three strategic asset acquisitions during the period, received its first orders from customers previously supplied by MITO Materials Inc and signed an agreement targeting PureGRAPH® CEM sales of up to 500 tonnes in China.

First Graphene also reported combined quarterly income of about A$135,000, comprising around A$103,000 in graphene sales and A$32,000 from development and grant-funded programs.

For the full financial year, the company expects revenue to increase by 13%, while annual operating cash burn declined by 12% to approximately A$2.39 million.

US acquisition delivers immediate revenue A central feature of the quarter was First Graphene’s acquisition of assets from US-based MITO Materials, which provided access to established customers, manufacturing opportunities and four product lines serving the luxury sporting equipment market.

The company has already received its first purchase orders from Parlor Skis and Le Croix fishing rods, indicating that customers intend to continue commercial relationships previously established under the MITO brand.

Former MITO chief executive Haley Marie Keith has joined First Graphene as vice president of business development and will lead efforts to increase product awareness and pursue commercial opportunities across the United States.

The acquisition forms part of First Graphene’s broader strategy to target high-value markets where acquired technologies and customer relationships can accelerate the commercial adoption of graphene-enhanced materials.

It also strengthens the company’s position in the US defence and aerospace sectors, where lightweight, durable and high-performance composite materials represent a potential market for PureGRAPH® products.

First Graphene has submitted an application to the US Defense Advanced Research Projects Agency to supply graphene products for defence-related aerospace composite projects.

The company's new US presence, combined with Keith’s local industry experience, provided an improved platform from which to pursue opportunities in the country’s large defence market.

Following the opening of its own commercial channels in the US through the MITO acquisition, First Graphene has ceased its previous distribution arrangements with NeoGraf.

Geotextile assets open new industrial markets First Graphene also completed the acquisition of assets from Australian materials businesses Ionic Industries Inc and Imagine Intelligent Materials during the quarter.

The transaction provides a direct pathway into the geotextiles market, with potential applications across mining, agriculture, waste management and construction.

Geotextiles are used in applications including separation, filtration, reinforcement, protection and drainage, creating opportunities for graphene-enhanced coatings and materials designed to improve durability or performance.

During the first 90 days following completion, First Graphene intends to focus on relocating and establishing Ionic’s coating line and assessing associated manufacturing opportunities.

The acquired assets are aligned with the company’s existing coatings strategy and could support the development of new commercial products for infrastructure and industrial customers.

Together, the MITO, Ionic and Imagine Intelligent Materials transactions represent a deliberate expansion beyond First Graphene’s established graphene manufacturing operations into downstream products, customer relationships and application-specific technologies.

China agreement targets world’s largest cement market First Graphene reached what it described as a significant commercial milestone by signing a memorandum of understanding with Sixth Element Material Technology to distribute PureGRAPH® CEM in China.

The agreement gives the company a route into the world’s largest cement and concrete market, which produces more than 2.3 billion tonnes annually.

Under the proposed pathway, sales of PureGRAPH® CEM would be increased to 500 tonnes. Reaching that level could trigger the establishment of a local manufacturing plant through either a joint venture or licensing agreement.

First Graphene described the Sixth Element agreement as the largest commercial opportunity in the company’s history, providing potential access to a cement and concrete market valued at more than US$50 billion.

The company’s proposition is based on the ability of PureGRAPH® CEM to reduce the volume of cement required in concrete products while maintaining strength and performance.

This could be particularly relevant in China, where cement production accounts for a substantial share of national carbon emissions and the construction industry is under pressure to reduce its environmental impact.

The agreement follows commercial-scale work completed in the United Kingdom with FP McCann, the country’s largest precast concrete manufacturer and supplier.

More than 10,000 graphene-enhanced roof tiles were produced during a five-month project using 40 tonnes of PureGRAPH®-enhanced cement supplied by First Graphene partner Breedon Group.

The project achieved a cradle-to-gate carbon emissions reduction of up to 14%, while reducing the amount of cement needed by as much as 8% without compromising product strength or performance.

First Graphene believes these results demonstrate that graphene-enhanced cement can provide a commercially practical lower-emission option for the construction industry.

The successful UK program has also generated interest from other international markets examining the potential use of the company’s PureGRAPH® product range.

Distribution agreement expands regional reach First Graphene strengthened its Australian and New Zealand sales network during the quarter by updating its long-standing distribution agreement with Bisley.

The revised agreement gives Bisley broader exclusive access to PureGRAPH® products for the cement and concrete markets across both countries.

Bisley’s market development activities have already helped introduce First Graphene’s products into construction materials, coatings, lubricants, oil and gas drilling and cementing, composites, rubber and plastics.

The partnership is also examining emerging applications in paper manufacturing.

Bisley has worked with government research organisations and universities on graphene-enabled defence technologies and next-generation advanced materials, providing another potential channel into higher-value applications.

As part of the expanded agreement, the companies will collaborate on the technical development, market introduction and commercial rollout of a new range of graphene liquid additives.

These products are undergoing market evaluation and customer trials, with a commercial launch planned for the second half of calendar 2026.

Bisley will also distribute additional graphene and graphene oxide technologies acquired through the MITO and Ionic transactions.

Financial position supports commercial rollout First Graphene recorded customer receipts of A$109,000 during the June quarter and used A$734,000 in operating activities.

Investing cash outflow totalled A$363,000, primarily reflecting A$351,000 allocated to other non-current assets, while financing activities used A$46,000.

The company ended the period with A$2.87 million in cash and cash equivalents, compared with A$4.01 million at the beginning of the quarter.

Based on its June-quarter operating expenditure, First Graphene estimated it had funding available for 3.9 quarters of operations.

The company had no loan facilities, credit standby arrangements or other financing facilities drawn at the end of the period.

Next steps First Graphene’s immediate priorities include integrating its newly acquired US and Australian assets, relocating and commissioning Ionic’s coating line and converting inherited customer relationships into recurring revenue.

The company will also work with Sixth Element to build PureGRAPH® CEM sales in China toward the 500-tonne threshold that could support local manufacturing through a joint venture or licensing structure.

In Australia and New Zealand, First Graphene and Bisley are preparing for the planned second-half 2026 commercial release of the company’s new graphene liquid additive portfolio.

Further opportunities may emerge from the DARPA application and the company’s broader push into defence and aerospace composites, supported by its expanded US presence and acquired product capabilities.

About First Graphene First Graphene is an advanced materials company focused on the development and commercial supply of graphitic materials and product formulations.

Its principal target markets include cement and concrete, composites and plastics, coatings, adhesives, sealants and elastomers, and energy storage.

The company’s PureGRAPH® graphene products are designed to enhance material performance and potentially reduce emissions through lower material usage, reduced manufacturing energy requirements or longer product life.

First Graphene operates its primary manufacturing facility at Henderson, Western Australia, and maintains a UK presence through First Graphene UK Ltd in Manchester’s innovation district.

The headline number in BYD's July sales, announced over the weekend, is not the one that should worry Tesla.

BYD, the Chinese carmaker that overtook Tesla Inc (NASDAQ:TSLA) as the world's largest seller of battery-electric vehicles last year, lifted global sales 21.8% to 419,211 vehicles, a third straight month of growth.

The figure that matters to Elon Musk's company sits underneath it. Overseas shipments of passenger vehicles and pickups jumped 124.3% to 179,841 units, meaning exports, not the Chinese home market, are now driving BYD's expansion.

That distinction is the whole story, because exports are precisely where BYD and Tesla collide.

A fight on Tesla's turf

BYD sells almost nothing in the United States, where Chinese cars are effectively barred, so its export drive is aimed at Europe and other international markets.

Those are the same markets where Tesla has been bleeding share, with its sales in Europe and China eroded by the rise of Chinese rivals over the past two years.

Tesla's global appeal has long rested on its geographic spread, the argument that it is less exposed than BYD to any single country's policies.

BYD is now systematically dismantling that advantage by building factories in Hungary, Turkey and Thailand and raising its overseas sales target for the year.

Every European buyer BYD wins is a buyer Tesla is increasingly unlikely to reach, and the July numbers show the pipeline filling fast.

Why BYD is pushing so hard abroad

The export blitz is not simply ambition; it is compensation. BYD's domestic sales have softened after China scrapped the tax exemption that once made new electric cars cheaper, cooling the market it dominates.

Rather than accept flat volumes, BYD has redirected capacity outward, using technology showcases such as its high-power flash charging demonstrations to build credibility in new markets before scaling up.

The result is a company that has turned a home-market wobble into an international offensive, and the offensive is landing.

For Tesla, a rival forced abroad by domestic pressure is more dangerous than a complacent one, because it arrives hungry and heavily supplied.

Tesla's shrinking core

The timing is awkward for a company whose car business is already under strain.

Tesla's annual deliveries fell around 9% in 2025, a second consecutive yearly decline, and it lost the global electric-vehicle crown to BYD in the process.

The two now trade the quarterly lead, with Tesla reclaiming it early in 2026 only because BYD stumbled at home, before BYD surged back ahead in the second quarter by more than 70,000 vehicles.

BYD's export recovery threatens to make that lead permanent rather than seasonal.

The deeper problem is that Tesla's response to a maturing car market has been to look away from it.

Musk has pivoted the company's story towards artificial intelligence, robotaxis and humanoid robots, pitching Tesla as a technology firm rather than a carmaker.

That narrative has propped up the share price, but it does nothing to defend the European and international volumes that BYD is now hunting.

The squeeze

What BYD's July figures really expose is a divergence in direction. BYD is doubling down on the business of building and selling cars faster and cheaper across more countries, while Tesla is quietly retreating from that contest towards an autonomous future it has yet to deliver.

If robotaxis arrive on schedule and at scale, Tesla's inattention to raw volume may look visionary.

If they do not, the company will have surrendered the export markets that fund everything else to a competitor that never stopped fighting for them.

For now, the message from BYD's numbers is blunt: the global car war is being fought hardest in exactly the places Tesla has chosen to defend least.

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SummaryAmazon (AMZN) earns a Buy rating, with fair value estimated at $320, reflecting AWS-driven operating income growth and improving retail margins. AWS revenue surged 37% to $42.2B, operating margin expanded to 39.4%, and backlog reached $496B, supporting multi-year growth visibility. Capital intensity remains a risk; free cash flow is negative and debt has doubled, but management projects strong operating income growth through 2026. Failure points include AWS growth below 25%, margin compression, or retail/advertising underperformance, which could materially weaken the investment thesis. Yuriy T/iStock Editorial via Getty Images

The Quarter That Changed The Capital-Spending Debate Amazon's (AMZN) most powerful bull thesis isn't just about AI ultimately validating the massive amount being spent now. Rather, Amazon is generating sufficient incremental

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