Market Signal Briefing

Newron Pharmaceuticals S.p.A. (NWPHF) Q4 2025 Earnings Call March 24, 2026 9:30 AM EDT

Company Participants

Stefan Weber - CEO & Executive Director
Ravi Anand - Chief Medical Officer
Roberto Galli - Chief Financial Officer

Conference Call Participants

Raghuram Selvaraju - H.C. Wainwright & Co, LLC, Research Division
Joris Zimmermann - Octavian AG, Research Division
Arron Aatkar - Edison Investment Research Limited
Joseph Hedden - Rx Securities Limited, Research Division

Presentation

Operator

Ladies and gentlemen, welcome to the 2025 Results and 2026 Outlook Conference Call. I am Mathilde, the Chorus Call operator. [Operator Instructions] The conference is being recorded. [Operator Instructions] The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Stefan Weber, CEO. Please go ahead.

Stefan Weber
CEO & Executive Director

Thank you, Mathilde, and good afternoon, everybody in Europe. Good evening, everybody in Asia, and good morning and early 6:30, have a good starting to the day from Dana Point, California. As usual in the past years, we are spread over the world. The only person right now in our Milan offices is the CFO as he should be. He's sitting on the money that we need to spend in the upcoming period. Our Chief Medical Officer, Ravi Anand, is right now preparing for the SIRS, Schizophrenia International Research Society Conference that starts tomorrow. And I am attending the conference of ROTH Capital at Dana Point. So welcome to this call.

I hope you have had a chance to download the slide deck that we are going to guide you through, and I will start with Slide #4. So if we look back at the last 15 months and the period that we are reporting about, and I will then do the outlook for '26 and hand over to Ravi for the new science and

WINNIPEG, Manitoba--(BUSINESS WIRE)--Ag Growth International Inc. (TSX: AFN) (“AGI”, the “Company”, “we”, or “our”) today announced its financial results for the three-month period ending December 31, 2025. Fourth Quarter 2025 Highlights Revenue of $396 million increased by 4% year-over-year (“YOY”) Adjusted EBITDA1 of $48 million decreased by 38% YOY Adjusted EBITDA Margin %2 of 12.2% declined by 829 basis points YOY, primarily due to lower Farm volumes impacting overhead absorption, execution.

Braze, Inc. (BRZE) Q4 2026 Earnings Call March 24, 2026 4:30 PM EDT

Company Participants

Christopher Ferris - Head of Investor Relations
William Magnuson - Co-Founder, Chairman & CEO
Isabelle Winkles - Chief Financial Officer

Conference Call Participants

Ryan MacWilliams - Wells Fargo Securities, LLC, Research Division
Scott Berg - Needham & Company, LLC, Research Division
Raimo Lenschow - Barclays Bank PLC, Research Division
J. Lane - Stifel, Nicolaus & Company, Incorporated, Research Division
Brett Huff - Stephens Inc., Research Division
Arjun Bhatia - William Blair & Company L.L.C., Research Division
Taylor McGinnis - UBS Investment Bank, Research Division
Brian Peterson - Raymond James & Associates, Inc., Research Division
David Hynes - Canaccord Genuity Corp., Research Division
Nicholas Altmann - BTIG, LLC, Research Division
Matthew VanVliet - Cantor Fitzgerald & Co., Research Division
Brian Schwartz - Oppenheimer & Co. Inc., Research Division
Sitikantha Panigrahi - Mizuho Securities USA LLC, Research Division

Presentation

Operator

Welcome to the Braze Fiscal Fourth Quarter 2026 Earnings Conference Call. My name is Leila and I'll be your operator for today's call. [Operator Instructions]

I'll now turn the call over to Christopher Ferris, Vice President of Braze Investor Relations.

Christopher Ferris
Head of Investor Relations

Thank you, operator. Good afternoon, and thank you for joining us today to review Braze's results for the fiscal fourth quarter 2026. I'm joined by our Co-Founder and Chief Executive Officer, Bill Magnuson; and our Chief Financial Officer, Isabelle Winkles. We announced our results in a press release issued after the market closed today. Please refer to the Investor Relations section of our website at investors.braze.com for more information and a supplemental presentation related to today's earnings announcement.

During this call, we will make statements related to our business that are forward-looking under federal securities laws and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not

There's a lot in Meta Platforms' (META 1.91%) recent financial updates for the bulls to like. The social media giant is generating incredible top-line momentum. In addition, management guided for even faster growth in Q1.

But here's the issue: Meta's artificial intelligence (AI) growth initiatives are slowing its earnings growth. And it seems to be worrying investors. The stock is down about 10% year to date.

Could the stock go even lower this year? Given the staggering shift in the company's cost structure, possibly.

Here is a closer look at why the stock's recent pullback might just be the beginning.

Image source: Getty Images.

The top-line distraction To be fair to the bulls, Meta's revenue trajectory is undeniably strong. The company generated $59.9 billion in fourth-quarter revenue, representing a 24% year-over-year increase.

And management expects this momentum to accelerate.

For the first quarter of 2026, Meta guided for revenue between $53.5 billion and $56.5 billion. At the midpoint, that forecast implies a year-over-year growth rate approaching 30%. With 3.58 billion daily active users across its family of apps (Facebook, WhatsApp, Instagram, Threads, and Messenger), the tech company is successfully flexing its pricing power and driving higher ad impressions.

But great top-line growth doesn't automatically translate to a great investment.

A structural shift in costs The core issue dragging on the stock is the sheer magnitude of Meta's spending. The company is actively transitioning away from its historically asset-light software roots into a more capital-intensive business.

This pivot is already showing up in the numbers.

Meta's fourth-quarter total expenses surged 40% year over year to $35.1 billion. That dramatic increase in costs is weighing on its operating margin (fourth-quarter operating margin was 41%, down from 48% in the year-ago period), causing a significant slowdown in earnings-per-share growth. Meta's fourth-quarter earnings per share increased 11% year over year. This is a significant slowdown from the prior quarter, when adjusting for a one-time item that affected the period; adjusted earnings per share in Q3 rose 20% year over year.

And the pressure is only going to get worse. Management guided for full-year 2026 expenses to land between $162 billion and $169 billion -- up from about $118 billion in 2025.

"The majority of expense growth will be driven by infrastructure costs, including third-party cloud spend, higher depreciation, and higher infrastructure operating expenses," management explained during the company's fourth-quarter earnings call.

Even more staggering are the company's capital expenditures to support its planned infrastructure build-out. Management forecast 2026 capital expenditures to be between $115 billion and $135 billion. The midpoint of this guidance range would be about triple the company's 2024 capital expenditures and far above 2025 levels, too.

As these capital expenditures convert into significant depreciation charges on the income statement, profitability will face severe headwinds.

Meta is no longer just dealing with the uncertainty introduced by the AI era; it is also facing negative earnings tailwinds from its own spending plans.

Today's Change

(

-1.91

%) $

-11.55

Current Price

$

592.51

Valuation risk This brings us to the stock's valuation. As of this writing, Meta trades at a price-to-earnings ratio of about 25.

While that multiple might look reasonable for a company posting 24% revenue growth, it leaves very little cushion for a business undergoing massive margin compression and transitioning toward a capital-intensive operation. If earnings growth continues to stall under the weight of infrastructure costs and rising depreciation, the market will likely demand a lower premium.

It is entirely plausible that investors decide a heavily capital-intensive business model deserves a lower valuation multiple. If the market rerates the stock to a price-to-earnings ratio of 20 to account for increased uncertainty around big spending and the earnings pressure we're already seeing, shares could fall significantly from here.

Of course, there is no way to know exactly where the bottom is. Meta CEO Mark Zuckerberg has successfully navigated major platform transitions before, and over the long haul, my guess is that the stock works out decently well.

But the current cost pressures are a major concern.

Until the tech giant can prove that its staggering artificial intelligence investments will generate an attractive return on invested capital, I think investors should view this as a higher-risk play. For now, it makes sense to keep any position in the stock small.

In Brief

Posted:

5:53 PM PDT · March 24, 2026

Image Credits:Fauna Robotics Amazon has confirmed that it has acquired Fauna Robotics, a two-year-old startup founded by former Meta and Google engineers who are developing kid-size humanoid robots.

The acquisition was first reported by Bloomberg. Terms of the deal weren’t disclosed. What we do know is that Fauna’s employees, including its two founders, will join Amazon in New York City.

“We are excited about Fauna’s vision to build capable, safe, and fun robots for everyone,” an Amazon spokesperson wrote in an emailed statement. “Together with Amazon’s robotics expertise and decades of experience earning customer trust in the home through our retail and devices businesses, we’re looking forward to inventing new ways to make our customers’ lives better and easier.”

Fauna began shipping its first product, a 59-pound bipedal robot called Sprout, earlier this year to select research and development partners.

This is Amazon’s second robotics acquisition — at least, that we know about — this month. Amazon confirmed to TechCrunch earlier this month that it has also acquired Rivr, a Zurich-based autonomous robotics startup known for its stair-climbing delivery robot. Terms of that deal wasn’t disclosed either.

Topics

Subscribe for the industry’s biggest tech news

Latest in Robotics

NEW YORK--(BUSINESS WIRE)--Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of ImmunityBio, Inc. (NASDAQ: IBRX) resulting from allegations that ImmunityBio, Inc. may have issued materially misleading business information to the investing public. So What: If you purchased ImmunityBio, Inc. securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingenc.

Vancouver, Canada, March 24, 2026 – TheNewswire - Electrum Discovery Corp. ("Electrum" and/or the "Company") (TSX-V:ELY | FRA:R8N | OTC:ELDCF) is pleased to announce that the shareholders, optionholders, deferred share unit holders and warrantholders (collectively, the "Securityholders") of the Company have overwhelmingly approved the previously announced merger of equals with ASX listed MinRex Resources Ltd. ("MinRex")  at a special meeting of securityholders of the Company held earlier today (the "Meeting").

On January 5, 2026, Electrum entered into a definitive agreement with MinRex ("Arrangement Agreement" and/or "Merger"), pursuant to which MinRex will acquire all the issued and outstanding common shares in Electrum, among other things, by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (see News Release dated 6 January 2026).

Highlights:

Electrum’s Securityholders overwhelmingly approve the proposed merger of equals with MinRex. 

Under the terms of Arrangement, Electrum securityholders will obtain 49.3% of the shares of the combined company while the remaining 50.7% of the shares will be retained by current MinRex shareholders. 

Subject to final Court approval and other customary closing conditions, the Arrangement is expected to be completed on or shortly after April 9, 2026. 

  The special resolution approving the Arrangement (the "Arrangement Resolution") required approval from:

(i)        not less than 66⅔% of the votes cast on the Arrangement Resolution by Shareholders (other than dissenting shareholders) present in person or represented by proxy and entitled to vote at the Meeting;

(ii)        at least 66⅔% of the votes cast on the Arrangement resolution by the Securityholders voting together as a single class on the basis of one vote per share, warrant, deferred share unit or option by the Securityholders who vote in person or by proxy at the Meeting; and

(iii)        not less than a simple majority of the votes cast on the Arrangement Resolution by Shareholders present in person or represented by proxy and entitled to vote at the Meeting, excluding votes in respect of Electrum shares held or controlled by Electrum’s interested and related parties.

Approximately 99.99% of votes cast by Electrum Securityholders were in favour of the Arrangement Resolution, thereby satisfying all requisite Electrum approval thresholds.

Holders of Electrum Shares will receive 7.900363636 MinRex Shares in exchange for each Electrum Share held. An aggregate of 966,666,334 MinRex Shares will be issued to holders of Electrum Shares in exchange for their respective Electrum Shares.

All outstanding Electrum Convertible Securities will be cancelled, and holders thereof will receive such number of fully paid ordinary shares of MinRex ("MinRex Shares") representing the fair value of such securities, determined using a Black & Scholes valuation. An aggregate of 87,009,759 MinRex Shares will be issued to holders of Electrum Convertible Securities on a pro rata basis upon cancellation of their respective Electrum Convertible Securities. 

Under the terms of Arrangement, Electrum Securityholders will own approximately 49.3% of the ordinary shares of MinRex following the completion of the Arrangement (the "Resulting Issuer Shares") while holders of MinRex Shares will hold approximately 50.7% of the Resulting Issuer Shares.

Court Approval and Closing

The application for the final order of the Court (the "Final Order") approving the Arrangement is currently expected to take place on March 30, 2026. Subject to obtaining the Final Order, final approval from the TSX Venture Exchange ("TSXV") and satisfaction of other customary closing conditions, the Arrangement is expected to be completed on or shortly after April 9, 2026.

Delisting

Following completion of the Arrangement, Electrum will become a wholly-owned subsidiary of MinRex, and the Electrum shares will be delisted from the TSXV and OTCQB. Former Electrum Securityholders who receive consideration under the Arrangement will hold ordinary shares in the capital of MinRex, which are listed on the ASX.

Each registered shareholder holding Electrum Shares in certificated form or DRS form must complete the Letter of Transmittal relaiting to the Arrangement available under the Company’s profile on SEDAR+ in accordance with the instructions provided therein to receive the MinRex Shares such Shareholder is entitled to under the Arrangement. Beneficial Electrum shareholders should contact their intermediary or brokers through which they hold their Electrumn Shares for questions with respect to the MinRex Shares they are entitled to receive pursuant to the Arrangement.

For further information on the Arrangement, please refer to the Company’s management information circular prepared in respect of the Meeting and the Arrangement Agreement which are available under the Company’s profile on SEDAR+ (www.sedarplus.ca).

About Electrum Discovery Corp.

Electrum Discovery Corp. is a Canadian based, growth-oriented company, committed to increasing shareholder value through advancement of its two projects: gold-silver Novo Tlamino and copper-gold Timok East, located in two known mineralized districts within the prolific Western Tethyan Belt in the Republic of Serbia.

  Electrum Discovery is looking to maximize the value of our mineral projects for all stakeholders including our shareholders, the local community and government, while fostering sustainability, governance, and knowledge transfer in the region.

Additional information on Electrum can be found by reviewing the Company's page on SEDAR+ at www.sedarplus.ca.

For more information contact:

Dr Elena Clarici, Chief Executive Officer and Director

T: +1 604 801 5432 | E: [email protected] | W: electrumdiscovery.com

  Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

  Forward-Looking Statements

Certain statements contained in this news release constitute “forward-looking information” within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking information. Such statements include Company’s expected achievement of specified milestones, results of operations, and expected financial results of the Company. Often, but not always, this forward-looking information can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations. All statements that are not statements of historical fact are forward-looking statements, including, but not limited to, statements regarding the Arrangement and the ability to complete it and other transactions contemplated by the Arrangement; the timing and satisfaction of conditions to consummation of the Arrangement; the receipt of required regulatory and court approvals; the possibility of termination of the Arrangement; and the expected benefits to Electrum and its securityholders.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Electrum, to be materially different from any results, performance or achievements expressed or implied by forward-looking information. Such uncertainties and factors include, among others, uncertainties inherent in the PEA and exploration results and the estimation of mineral resources; risks related to the failure to obtain adequate financing on a timely basis and on acceptable terms; changes in general economic conditions and financial markets; risks associated with the results of exploration and development activities, and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in Electrum's quarterly and annual filings with securities regulators and available under Electrum's profile on SEDAR+ at www.sedarplus.ca. Rock chips and surface results are early stage and there is no assurance that future exploration will find mineralization of further interest. Although Electrum has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking information contained herein is based on the assumptions, beliefs, expectations and opinions of management. Forward-looking information has been made as of the date hereof and Electrum disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.

8.18K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

New York, New York--(Newsfile Corp. - March 24, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Soleno Therapeutics, Inc. (NASDAQ: SLNO) between March 26, 2025 through November 4, 2025, both dates inclusive (the "Class Period"), of the important May 5, 2026 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the Soleno class action, go to https://rosenlegal.com/submit-form/?case_id=43959 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 5, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Soleno Phase 3 clinical trial program for diazoxide choline extended-release tablets ("DCCR") had systematically downplayed, misrepresented, and/or concealed significant evidence of safety concerns potentially related to the administration of DCCR, including issues related to excess fluid retention in clinical trial participants; (2) as a result, the administration of DCCR to treat hyperphagia in individuals with Prader-Willi syndrome ("PWS") posed materially greater safety risks than disclosed by Soleno or its executives; and (3) as a result, DCCR had materially lower commercial viability and undisclosed risks related to the likelihood of significant and widespread adverse events after its commercial launch, including risks related to patient discontinuation rates, lower patient adoption, prescriber reluctance, adverse regulatory action, and potential reputational and legal fallout. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Soleno class action, go to https://rosenlegal.com/submit-form/?case_id=43959 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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

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

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

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289748

Source: The Rosen Law Firm PA

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us

Zach Spencer
Director of External Relations, Treasurer & Secretary

Good morning, and thank you for joining Comstock Inc.'s Full Year 2025 results and business outlook. I'm Zach Spencer, Director of External Relations. Today is Tuesday, March 24, 2026, we are streaming live and this session is being recorded. A recording will be posted shortly after we adjourn in the Investor Relations section of our website.

Today, we filed our Form 10-K for the year ended December 31, 2025, and issued a press release summarizing year-end results. Both documents are available on our website. As a reminder, Comstock is listed on NYSE American with the ticker LODE. Joining me today are Corrado De Gasperis, Comstock's Chief Executive Officer; and Judd Merrill, Comstock's Chief Financial Officer. After their prepared remarks, we will take questions.

We received more than 35 questions in advance of the call. If you have additional questions during the call, please use the Zoom Q&A window, and we will address as many as time allows. Today's discussion will include forward-looking statements. Actual results may differ materially due to risks and uncertainties detailed in our SEC filings. Full risk disclosures can be found in our filings on the Investor Relations page and on the SEC website.

With that, it is my pleasure to introduce our Chief Financial Officer, Judd Merrill. Judd you may begin.

Judd Merrill
President of Comstock Mining & CFO

Thanks Zach and thanks for everyone being on this call. I have a few remarks, and then we'll turn it over to Corrado, but I just want to look at

By PYMNTS  |  March 24, 2026

 | 

Apple is preparing to unveil a new version of its Siri voice assistant that will be more like an artificial intelligence agent and will interact in a conversational way through both text and voice, Bloomberg reported Tuesday (March 24), citing unnamed sources.

The updated Siri will be able to tap into messages, notes and emails to respond to requests; complete tasks within apps; access news content; and search the web, according to the report.

Apple plans to unveil the new Siri on June 8, the first day of its annual Worldwide Developers Conference (WWDC), the report said.

Further in the future, Apple’s plans for AI-related products include a standalone app for Siri as well as a new systemwide “Ask Siri” feature that will work across Apple’s apps, per the report, which again cited unnamed sources. The company is currently testing these potential offerings.

Apple did not immediately reply to PYMNTS’ request for comment.

We’d love to be your preferred source for news.

Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

The company said in a Monday (March 23) press release that it will share its advancements in artificial intelligence at WWDC, which the company will host online June 8-12.

Advertisement: Scroll to Continue

“WWDC26 will spotlight incredible updates for Apple platforms, including AI advancements and exciting new software and developer tools,” Apple said in the release.

It was reported March 10 that the company was working on developing an updated version of Siri and that this work had delayed a long-awaited launch of Apple’s smart home display device that had been scheduled to launch last year.

PYMNTS reported in January that Apple CEO Tim Cook said during an earnings call that the company’s AI, Apple Intelligence, will serve less as a standalone product and more as an operating-system-level capability that can raise the value of the company’s entire ecosystem and create room to monetize across hardware and services.

“We’re bringing Intelligence to more of what people love,” Cook said. “And we’re integrating it across the operating system in a personal and private way. And I think that by doing so it creates great value and that opens up a range of opportunities across our products and services.”

For all PYMNTS AI coverage, subscribe to the daily AI Newsletter.

The banks are at it again. Instead of competing on a level playing field with digital asset firms, they want to put their hand on the regulatory scale to ensure they maintain a moat that helps them, but not consumers.

Spewing FUD regarding deposit flight, the ability to originate loans, and the emerging stablecoin ecosystem, chatter currently indicates that the so-called “compromise” regarding the CLARITY Act will not allow stablecoin holders to generate yield only “rewards.”

The legacy banking industry has done an excellent job of using a stick and a carrot to influence elected officials. On the one hand, they have enormous financial clout and the donations to encourage policymakers to back their viewpoint. At the same time, fear, uncertainty, and doubt have been used to raise concerns about bank lending if consumers and businesses move money from deposits into stablecoins. Of course, they have no proof of this unknown outcome, and banks can, of course, compete with digital asset firms, but they would rather create a regulatory blockade to ensure profits.

Today on X there may be one digital asset firm that is well positioned to offer yeild. Figure (Nasdaq: FIGR), founded by perpetual entrepreneur Mike Cagney, has already established a path to generating returns for its holders – $YLDS.

$YLDS is a registered public debt security on Solana. $YLDS is described as being a security version of stablecoin, intended to maintain a fixed dollar price and offer a “continuous yield” that is said to be backed by U.S. Treasuries and Treasury repo agreements.

On X today, Cagney claimed that $YLDS will continue to pay interest. He also shared that they also need the “same freedom of transfer as USDC and he is lobbying for this now. Cagney shared that he is meeting with the Securities and Exchange Commission next week and is lobbying for language in the CLARITY Act to ensure it is included in the bill.

Of course, over time, other digital asset firms will seek to replicate or offer similar services. Technology will provide a path.

Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

Buying Bitcoin means you're in full control of your cryptocurrency, and you avoid the annual fees that Bitcoin ETFs charge. But you could lower your crypto tax bill by investing in Bitcoin ETFs through a Roth IRA.

Shares of Circle, the company behind the USDC stablecoin, plunged 20% on Tuesday after a draft version of proposed U.S. stablecoin legislation sparked concerns over potential limits on yield payments. The sharp decline snapped a remarkable rally that had seen the stock surge more than 100% over the prior weeks. Crypto exchange Coinbase, which shares revenue tied to USDC, also fell nearly 10% on the news.

The selling pressure was triggered by the latest draft of the Clarity Act, which analysts say could ban rewards offered simply for holding stablecoins. Mizuho analyst Dan Dolev warned the legislation may prohibit any yield structure that resembles a bank deposit, including the pass-through model Circle and Coinbase currently use. Under that arrangement, Circle earns interest on USDC's reserve assets and distributes a portion to Coinbase, which then funds user rewards. The new draft targets anything "economically equivalent to interest," potentially dismantling that entire incentive structure.

Critics argue this weakens a core part of the bull case for USDC as a store-of-value asset. Adding competitive pressure, rival stablecoin issuer Tether announced it hired a Big Four accounting firm to audit its USDT reserves, a move that could strengthen its credibility with institutional investors and chip away at USDC's market position.

Despite the steep single-day selloff, most analysts are urging calm. Several describe Tuesday's reaction as an overreaction driven by headline risk rather than fundamental deterioration. Circle still holds roughly 30% of the stablecoin market, which analysts project could grow tenfold over the next four years. The company's stock remains up more than 30% year-to-date even after the drop. Analysts also note that alternative incentive structures, such as loyalty programs, could effectively replace traditional yield offerings and keep USDC competitive in the evolving digital asset landscape.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Unlike fiat currency, digital assets’ controlled market circulation is a key factor that attracts investors.

Put simply, investors focus on one defining feature of these assets despite the risks: Their capped supply. This means that while inflation erodes the value of fiat each year, the total supply of these digital assets remains fixed, preserving long-term value.

Notably, Strategy [MSTR] is leaning into this with Bitcoin [BTC]. Over 20 million of the 21 million BTC have hit the market, leaving under 1 million coins to mine by 2140. In this context, their recent $42 billion move really highlights a bet on Bitcoin’s scarcity.

Source: X Michael Saylor shared the plan on X, outlining two major capital programs to fund future Bitcoin purchases: A $21 billion MSTR ATM equity program and a $21 billion STRC preferred income security program. Together, these form a $42 billion war chest for acquiring Bitcoin.

In the current market context, Strategy recently added another 1,031 BTC, bringing its total holdings to 762,099 BTC or about 3.81% of the total BTC supply. Combine that with STRC’s recent weekly trading of over 16k BTC, and it reinforces analysts’ take on Strategy’s $42 billion plan.

For example, one analyst projects that this could tighten the market by as much as 2 million BTC, highlighting just how much these moves are squeezing the available supply. Sure, at Bitcoin’s current spot price of $70k, this projection might seem far-fetched.

But when you look closer, could this level of market pressure actually happen?

Strategy’s move might turn macro FUD into long-term BTC momentum Strategy’s $42 billion BTC move comes at a crucial macro moment.

From a technical standpoint, Bitcoin has rallied 6.24% this month, while gold has dropped 16%, reinforcing BTC’s “store of value” narrative. Two takeaways stand out: This divergence is happening in the middle of an ongoing geopolitical conflict, and it’s the first major gap since the post-election rally in Q4 2024.

Consequently, analysts are now treating this divergence as an important metric for gauging market sentiment and technical trends. According to AMBCrypto, Strategy’s $42 billion plan to accumulate more BTC through structured programs fits perfectly into this growing narrative.

Source: Longtermtrends As the chart shows, the Bitcoin-to-gold ratio has climbed back to early February levels, rallying nearly 30% this month alone. At the same time, the ongoing geopolitical conflict pushed oil prices past $100 per barrel, signaling a clear shift in momentum from traditional safe-havens toward digital assets.

Against this backdrop, Strategy’s $42 billion BTC allocation looks highly calculated.

On-chain accumulation has already pushed Bitcoin’s exchange reserves to a multi-year low. Add ETFs driving institutional demand and ongoing macro FUD reinforcing Bitcoin’s “store of value” story, and Strategy’s moves could spark a major supply squeeze, showing why the $2 million per BTC projection can’t be completely ruled out.

Final Summary Strategy’s $42 billion BTC move leverages Bitcoin’s capped supply and shrinking exchange reserves, reinforcing its “store of value” narrative amid macro uncertainty. Institutional accumulation, ETF demand, and geopolitical shifts could trigger a significant supply squeeze, making projections like $2 million per BTC plausible.

TL;DR

Bitcoin dropped amid mixed U.S.-Iran diplomatic signals, testing investor confidence and impacting risk assets globally. The cryptocurrency briefly fell below $69,000 before recovering slightly, reflecting heightened volatility. Analysts remain optimistic, highlighting that the current pullback is a temporary confidence-driven phase rather than a structural issue, with institutional interest and liquidity positioning Bitcoin for a potential rebound later this year.
Bitcoin slipped to $70,219.36 on Tuesday, down 0.49% in the last 24 hours, as conflicting messages between U.S. and Iranian officials created uncertainty across markets. Early in the day, Bitcoin briefly fell below the $69,000 mark after peaking at $71,382 during intraday trading. While global equities also retreated, safe-haven gold remained stable near $4,440 per ounce, showing that investors are selectively reallocating risk amid the confusion.

Market participants reacted to a mix of statements from Washington and Tehran. While U.S. officials suggested progress in talks, Iran described such claims as attempts at “psychological pressure”. This divergence caused a rapid shift in risk sentiment, affecting both equities and cryptocurrencies.

Mixed Signals Pressure Bitcoin While Energy Costs Rise The geopolitical tension coincided with surging energy prices. Brent crude rose above $102 per barrel following a brief dip, pressuring operational costs for Bitcoin miners and adding an additional layer of volatility for the crypto market. Analysts note that while these short-term factors affect prices, they do not undermine Bitcoin’s long-term adoption trends, particularly in institutional and cross-border settlements.

Historically, Bitcoin has shown resilience during periods of macro uncertainty. Current pullbacks, analysts argue, tend to reflect liquidity rotations rather than structural weakness. With robust infrastructure for trading and custody, the cryptocurrency remains accessible for investors seeking diversification beyond traditional assets.

Analysts Highlight Long-Term Recovery Potential Despite recent volatility, several analysts maintain a bullish outlook for Bitcoin. A report from Bernstein suggests that the recent drawdown may represent a cyclical trough rather than a sustained bear market. They argue that confidence-driven fluctuations are temporary, and Bitcoin’s institutional adoption and market depth position it to capture rebound liquidity once geopolitical tensions ease.

The firm reiterated its $150,000 year-end 2026 target, noting that unlike past crises, no major systemic failures have occurred in the crypto ecosystem. Analysts also highlight that while gold has benefited from central bank accumulation, Bitcoin’s unique characteristics allow it to serve both as a risk asset and a hedge for investors monitoring global liquidity conditions.

Bitcoin has held a relatively firm structure despite escalating geopolitical tensions involving the United States, Israel, the Gulf states, and Iran. The market has absorbed repeated shocks, yet Bitcoin continues to trade without a decisive breakdown.

At the time of writing, Bitcoin [BTC] hovered around $71,000, showing resilience under pressure.

This suggests that current macro headwinds have not impacted price action as severely as anticipated, particularly when compared to the sharp dislocation seen during the liquidation event on the 10th of October, 2025.

However, beneath this stability, a developing pattern signals potential weakness ahead.

Energy markets and Bitcoin: A resurfacing correlation The ongoing conflict has significantly disrupted global energy markets. Concerns surrounding the Strait of Hormuz, alongside refinery outages, have driven gasoline prices higher and tightened supply conditions.

Amid this backdrop, a fractal pattern has emerged linking Bitcoin’s price action with gasoline market movements, echoing a structure last observed in 2021.

This relationship is reflected in the Bitcoin–RBOB Gasoline Futures Continuous Contract (NYMEX: RB1!), which tracks Bitcoin against the nearest expiring gasoline futures contract. Current chart behavior shows a notable alignment between both assets.

Source: Alphractal Bitcoin appears to have rejected a key resistance trendline, formed a lower high, and entered a downward trajectory, closely mirroring its 2021 setup.

During that cycle, the pattern unfolded gradually before reaching a definitive bottom. A similar path may now be forming.

With no confirmed price floor in place, current conditions suggest Bitcoin could extend its decline before establishing a base, potentially setting up the next long-term rally phase.

Liquidity contraction signals caution Global M2 supply remains a critical indicator for assessing market direction and identifying potential bottoms.

As a measure of total liquid money across major economies, M2 reflects the capital available for deployment into financial assets, including Bitcoin.

Recent data shows a sharp contraction of $470 billion in global M2 within a single week. This decline points to tightening liquidity conditions and reduced capacity for capital rotation into risk assets in the near term.

Source: CoinGlass At the same time, traditional safe-haven assets are failing to attract sustained inflows. Instead, capital appears to be moving into select fiat positions and highly liquid instruments, indicating a defensive market stance.

Gold underscores this shift. The asset has posted its first bearish monthly performance since December 2024, declining 19% in March and erasing gains recorded in January and February 2026.

This correction represents a $6.6 trillion loss in market value over three months, a scale that highlights the extent of capital withdrawal across global markets and amounts to roughly 4.6 times Bitcoin’s current market capitalization.

Stablecoins point to sidelined capital Stablecoin supply trends suggest that investors are not exiting the market entirely but repositioning.

Data from DeFiLlama shows that total stablecoin supply has reached a new all-time high of $316.9 billion. This rise signals a shift toward capital preservation rather than risk exposure.

Investors are increasingly holding stablecoins to shield against volatility while maintaining readiness to re-enter the market. This positioning reflects expectations of future opportunities rather than a loss of conviction.

However, as long as geopolitical tensions persist, capital is likely to remain concentrated in stable assets. This limits rotation into Bitcoin and may continue to weigh on price stability in the short term.

Final Summary A Bitcoin–gasoline fractal pattern points to a higher likelihood of further downside. Global M2 supply drops $470 billion, while gold sheds $6.6 trillion, reinforcing a cautious macro outlook.

The debate over whether XRP can reach $100 has dominated crypto forums and financial headlines for years. That framing is precisely the problem. Positioning $100 as a price target is a category error: $100 is the mathematical output of a specific institutional adoption scenario, not a speculative projection.

The correct analytical question is not whether the market “believes” in that level, but whether the velocity of banking integration will prove sufficient before competing infrastructure fills the same structural void.

The 2026 regulatory breakthrough eliminated XRP’s primary obstacle — but it created a window, not a guarantee. On March 17, 2026, the SEC and CFTC released a joint 68-page crypto taxonomy framework that officially classified XRP as a Digital Commodity alongside Bitcoin, Ethereum, and Solana.

That classification, combined with the August 2025 litigation resolution — where Ripple paid $50 million rather than the originally claimed $125 million — removed the federal uncertainty that had paralyzed institutional adoption. The market responded: spot XRP ETFs launched in November 2025 absorbed $1.3 billion within their first 50 days, posting 43 consecutive sessions of positive inflows. The issue is that no regulator can ensure global banking adopts XRP before regulated alternatives occupy the same space.

The mathematical case for $100 has a structural foundation, but it depends on volume capture assumptions that have not yet been verified by real operational data.

The Equation of Exchange applied to XRP’s role as a bridge asset establishes that if the token processed 10% of SWIFT’s annual volume — approximately $15 trillion — at a reuse velocity of three times per year, the price required to sustain that flow without significant price slippage would be approximately $83. 

Reaching $100 requires XRP to capture more than 10-15% of total global settlement volume, or for banks to hold it as a reserve asset rather than using it solely as a momentary bridge. Currently, the $27 trillion locked in Nostro/Vostro accounts represents the most direct use case: each percentage point of that capital that migrates to on-demand liquidity via ODL structurally pressures prices upward.

First-quarter 2026 data shows XRP balances on exchanges dropped to seven-year lows — 1.6 billion tokens — while the price consolidates around $1.40-$1.48. Goldman Sachs already appears as the largest holder of certain XRP ETFs with a reported $154 million position. That data point carries weight: when tier-1 investment banks build exposure through regulated vehicles, the nature of structural demand shifts. It is no longer speculative demand — it is portfolio allocation demand.

The historical context this narrative consistently ignores involves assets that fulfilled their technical function but failed to capture the expected market.

The most instructive parallel is not in crypto but in telecommunications: the WAP protocol was technically correct as a mobile internet solution in the late 1990s, but adoption velocity proved insufficient and it arrived too late against the HTML standard.

XRP faces a comparable dynamic: the XRP Ledger settles transactions in 3-5 seconds at 1,500 TPS, yet its DeFi TVL stands at just $54 million against Solana’s $6.85 billion. The infrastructure exists, banking partners exist — over 300 financial institutions including SBI Holdings, Standard Chartered, and Santander — but the critical mass of real operational volume has not yet translated into network metrics that match the surrounding narrative.

The counterargument carries legitimate analytical weight and should not be dismissed Critics identify three structural risk vectors. First, centralization: Ripple controls a significant portion of the initial supply and the Unique Node List within its consensus mechanism, which contradicts the decentralization principles many central banks treat as a prerequisite for neutral adoption. 

Second, CBDC competition: Ripple participates in pilots with Montenegro, Palau, Bhutan, and Hong Kong, but if central banks develop interoperable CBDCs directly — without requiring a private bridge asset — structural demand for XRP contracts. 

Third, network alternatives: Stellar, sharing a similar architecture, has expanded its corridors in emerging markets with lower regulatory friction and reduced integration costs.

The verifiable hypothesis that determines whether the thesis holds is specific and measurable If Ripple’s active ODL corridors surpass $10 billion in monthly processed volume before the end of 2026 — from current consolidation levels — and if at least two additional tier-1 banks integrate XRP into active treasury operations, the structural conditions for appreciation toward the $5-$10 range will be in place. The path to $100 further requires circulating market capitalization to reach approximately $6.1 trillion — a level comparable to Japan’s GDP — which only materializes if XRP captures a meaningful share of global interbank settlement flow, not merely if it continues as a portfolio asset.

If instead ETF inflows stabilize below $500 million per quarter and exchange balances recover toward 2024 levels, the structural buying pressure dissipates and the $100 scenario moves beyond any operationally relevant horizon.

XRP has the regulatory architecture, institutional base, and economic use case to justify a valuation radically above its current level. Conflating mathematical possibility with operational probability, however, remains the most common analytical error in this debate.

TL;DR

Over half of Pump.fun token traders lost more than 50% this month, while most wallets earned less than $500. A small number of traders gained over $1 million, highlighting the wide gap in outcomes. Token deployers captured $79 million from the market, showing that creators still benefit even when individual traders struggle.
Recent on-chain data from Dune analytics shows that Pump.fun token trading has been tough for most participants. Around 96% of wallets trading Pump.fun-launched tokens earned less than $500 in March, with over 50% posting a net loss. These figures demonstrate that while trading activity remains high, profits for everyday traders are limited. The data also reflects the high volatility typical of memecoin markets, where price swings often exceed 50% within a few weeks.

96% of the users lost money trading PumpFun tokens this month.

The remaining 4% must be insiders and team members. pic.twitter.com/EcV4G502ae

— Ted (@TedPillows) March 24, 2026

Top Wallets Capture Significant Gains The wallets deploying Pump.fun tokens have profited heavily. According to crypto analyst Dethective, the top 250 deployers extracted $79 million from the market. Only 10 of their tokens exceeded a market cap of $5 million, but over the past six months, these wallets launched 194,000 tokens. Dethective notes that these wallets do not necessarily correspond to 250 separate individuals, as a single trader can control multiple wallets. Many of these wallets remain active, continuing to explore AI and algorithmic trading strategies to maintain their earnings.

Pump.fun Token Experiences Sharp Decline The $PUMP token has dropped 80% from its all-time high of $0.008819 in September last year. Pump.fun has shifted toward AI-driven trading tools, offering automated buyback options for third-party AI agents. Traders remain unsettled, however, due to the delayed airdrop first promised 258 days ago. The broader crypto market, impacted by macroeconomic factors and geopolitical tensions, continues to weigh on token performance. Observers note that these challenges are not unique to Pump.fun, as many memecoins are showing similar patterns of steep declines and cautious recovery.

Despite widespread losses, two wallets achieved profits above $1 million, while two others lost between $500,000 and $1 million. Individual traders can operate multiple wallets, which affects aggregate statistics and makes precise performance tracking challenging.

In conclusion, Pump.fun illustrates the divide between small-scale traders and token deployers. While most participants face modest losses, token creators continue to capture significant gains. Analysts suggest that the adoption of AI trading tools may influence future token dynamics, although market-wide pressures remain a key factor in performance. 

Data shows the Ethereum Coinbase Premium Index has stayed inside the negative territory even as the price has climbed back above $2,100.

Ethereum Coinbase Premium Index Is Red Right Now As pointed out by Arab Chain in a CryptoQuant Quicktake post, the Coinbase Premium Index has been in the red zone for Ethereum recently. This indicator keeps track of the percentage difference between the ETH price listed on Coinbase (USD pair) and that on Binance (USDT pair).

Below is a chart that shows the trend in the Ethereum Coinbase Premium Index over the past month.

The value of the metric seems to have been negative in recent days | Source: CryptoQuant As is visible in the graph, the Ethereum Coinbase Premium Index has dropped into the negative region in the last few days, indicating BTC has been trading at a lower rate on Coinbase as compared to Binance. In other words, users of the former have been applying a higher selling pressure than that of the latter.

Initially, the decline in the indicator came as the asset observed a retrace from last week’s highs. The timing would suggest that Coinbase traders led the price drawdown. But interestingly, while the Coinbase Premium Index has remained at a value of -0.0149 during the past day, ETH’s price has actually seen a rebound back above the $2,100 level.

The trend could be a sign that Binance investors have helped provide the fuel for the surge. If the Coinbase Premium Index stays red in the coming days, however, it’s possible that the move could run out of momentum. This is because, in recent times, American institutional entities, which use Coinbase as their preferred platform, have tended to be the drivers in the cryptocurrency sector.

Whenever demand from these investors is lacking, Ethereum and other major tokens like Bitcoin tend to suffer. So far, the rebound hasn’t been able to ignite interest among the US-based whales, so it only remains to be seen whether things will change as the rally unfolds.

The Coinbase Premium Index only tells a short-term story of the market. From a more long-term view, Ethereum’s rebound from $1,800 over the past month occurred after a retest of a significant level in the Market Value to Realized Value (MVRV) Ratio, as analyst Ali Martinez has highlighted in an X post.

The MVRV Ratio basically tells us about the profit-loss situation of the ETH investors as a whole. As shown in the below chart, the Ethereum MVRV Ratio plunged below 1.0 during this year’s drawdown, implying that the overall network entered into a state of loss.

How the ETH MVRV Ratio has fluctuated over the last few years | Source: @alicharts on X The metric ended up going down to the 0.8 level, which has often acted as a low point for the cryptocurrency in the past. “Historically, this is a ‘Generational Buy’ zone,” noted the analyst. Since this retest, ETH has observed its rebound.

ETH Price At the time of writing, Ethereum is trading around $2,160, down 7% over the past week.

The trend in the price of the coin over the last five days | Source: ETHUSDT on TradingView Featured image from Dall-E, chart from TradingView.com

TL;DR:

The platform’s total revenue fell to $40.5 million, representing a 23% drop compared to the $52.4 million recorded in the 2024 period. The organization attributes these results to APR compression on the Ethereum network and a capital rotation toward exchanges and institutional staking services. The protocol plans to launch an LDO token buyback program during the second quarter of 2025 to strengthen liquidity in the strategic LDO/wstETH pair. This Tuesday, it was reported that the Ethereum staking protocol, Lido, saw its annual revenue fall by more than 20%. The decline is in response to a net outflow of funds by users and a generalized decrease in the network’s staking yields.

Gross revenue suffered an 18.2% cut due to the “structural compression” of Ethereum’s APR. Despite this challenging environment, the protocol seeks to stabilize its native token, LDO, through a buyback program scheduled for the second quarter of this year, using generated rewards to provide liquidity in the LDO/wstETH pair.

This shift in the landscape reflects a migration of capital from simple Liquid Staking Derivatives (LSDs) toward institutional and low-risk options. The organization noted that competition intensified from restaking providers offering aggressive subsidies.

Institutional Strategy and Token Buyback To soften the impact, Lido began a strategic transition that includes expanding into products designed specifically for institutional investors. A recent example is the collaboration with WisdomTree, a firm with $140 billion in assets, which launched an Ethereum ETP in Europe using Lido’s infrastructure.

On the other hand, long-term sustainability remains a priority following the 15% staff cut implemented in August 2025. This measure aims to optimize operational efficiency while the protocol, founded in 2020, attempts to regain its dominance in a market increasingly fragmented by centralized exchanges.

In summary, Lido faces a period of financial adjustment marked by narrowing margins and loss of market share. However, its focus on the institutional sector and token buybacks suggests an effort to recover value for its ecosystem and adapt to the new staking structure in 2025.

Boston Scientific (BSX - Free Report) closed the most recent trading day at $68.15, moving -2% from the previous trading session. This change lagged the S&P 500's 0.37% loss on the day. Elsewhere, the Dow saw a downswing of 0.18%, while the tech-heavy Nasdaq depreciated by 0.84%.

Heading into today, shares of the medical device manufacturer had lost 6.49% over the past month, outpacing the Medical sector's loss of 8.47% and lagging the S&P 500's loss of 3.7%.

Market participants will be closely following the financial results of Boston Scientific in its upcoming release. The company's earnings per share (EPS) are projected to be $0.8, reflecting a 6.67% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.19 billion, indicating a 11.22% increase compared to the same quarter of the previous year.

BSX's full-year Zacks Consensus Estimates are calling for earnings of $3.45 per share and revenue of $22.3 billion. These results would represent year-over-year changes of +12.75% and +11.06%, respectively.

Investors might also notice recent changes to analyst estimates for Boston Scientific. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.11% downward. As of now, Boston Scientific holds a Zacks Rank of #3 (Hold).

Digging into valuation, Boston Scientific currently has a Forward P/E ratio of 20.14. This expresses a premium compared to the average Forward P/E of 18.65 of its industry.

We can additionally observe that BSX currently boasts a PEG ratio of 1.07. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Products was holding an average PEG ratio of 1.57 at yesterday's closing price.

The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 165, finds itself in the bottom 33% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow BSX in the coming trading sessions, be sure to utilize Zacks.com.

AppFolio (APPF - Free Report) closed the most recent trading day at $161.04, moving -3.55% from the previous trading session. This change lagged the S&P 500's daily loss of 0.37%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq lost 0.84%.

Shares of the property management software maker have appreciated by 2.23% over the course of the past month, outperforming the Computer and Technology sector's loss of 2.83%, and the S&P 500's loss of 3.7%.

Investors will be eagerly watching for the performance of AppFolio in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.44, marking a 19.01% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $258.04 million, indicating a 18.53% growth compared to the corresponding quarter of the prior year.

APPF's full-year Zacks Consensus Estimates are calling for earnings of $6.43 per share and revenue of $1.11 billion. These results would represent year-over-year changes of +21.55% and +16.72%, respectively.

Any recent changes to analyst estimates for AppFolio should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.27% increase. AppFolio currently has a Zacks Rank of #3 (Hold).

In the context of valuation, AppFolio is at present trading with a Forward P/E ratio of 25.96. Its industry sports an average Forward P/E of 19.39, so one might conclude that AppFolio is trading at a premium comparatively.

The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 159, placing it within the bottom 36% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

M-tron Industries, Inc. (MPTI - Free Report) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $0.73 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +54.69%. A quarter ago, it was expected that this company would post earnings of $0.7 per share when it actually produced earnings of $0.63, delivering a surprise of -10%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

M-tron Industries, Inc., which belongs to the Zacks Engineering - R and D Services industry, posted revenues of $14.23 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.66%. This compares to year-ago revenues of $12.81 million. The company has topped consensus revenue estimates three 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.

M-tron Industries, Inc. shares have added about 11.6% since the beginning of the year versus the S&P 500's decline of 3.9%.

What's Next for M-tron Industries, Inc.?While M-tron Industries, Inc. 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 M-tron Industries, Inc. was unfavorable. 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 #4 (Sell) for the stock. So, the shares are expected to underperform 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 $0.56 on $14.2 million in revenues for the coming quarter and $2.45 on $59 million 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, Engineering - R and D Services is currently in the top 21% 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.

United Rentals (URI - Free Report) , another stock in the broader Zacks Construction sector, has yet to report results for the quarter ended March 2026.

This equipment rental company is expected to post quarterly earnings of $9.04 per share in its upcoming report, which represents a year-over-year change of +2%. The consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level.

United Rentals' revenues are expected to be $3.87 billion, up 4.2% from the year-ago quarter.

TELA Bio, Inc. (TELA) Q4 2025 Earnings Call March 24, 2026 4:30 PM EDT

Company Participants

Louisa Smith - Investor Relations Contact Officer
Antony Koblish - Co-founder, CEO & Director
Jeffrey Blizard - President of TELA Bio & Director
Roberto Cuca - CFO & COO
Jim Hagen - Senior VP of Strategic Commercial Operations & Marketing

Conference Call Participants

Caitlin Cronin - Canaccord Genuity Corp., Research Division
Frank Takkinen - Lake Street Capital Markets, LLC, Research Division
Michael Sarcone - Jefferies LLC, Research Division
Matthew O'Brien - Piper Sandler & Co., Research Division

Presentation

Operator

Good afternoon, ladies and gentlemen, and welcome to the TELA Bio Fourth Quarter and Full Year 2025 Earnings Conference Call.

[Operator Instructions]

As a reminder, this conference call is being recorded. I would now like to turn the conference call over to Louisa Smith from Investor Relations.

Louisa Smith
Investor Relations Contact Officer

Thank you, Jonathan, and good afternoon, everyone. Earlier today, TELA Bio released financial results for the fourth quarter and full year ended December 31, 2025. A copy of the press release is available on the company's website. Joining me on today's call are Tony Koblish, Chief Executive Officer; Jeff Blizard, President; Roberto Cuca, Chief Operating Officer and Chief Financial Officer; and Jim Hagen, Senior Vice President of Strategic Operations and Marketing.

Before we begin, I'd like to remind you that during this conference call, the company may make projections and forward-looking statements regarding future events. We encourage you to review the company's past and future filings with the SEC, including, without limitation, the company's annual report on Form 10-K and quarterly reports on Forms 10-Q, which identify the specific risk factors that may cause actual results or events to differ materially from those described in these forward-looking statements. These factors may include, without limitation, statements regarding product development, pipeline opportunities, sales and marketing strategies and the impact of various