Track market-moving stories before they get noisy

Key Takeaways Verisk's Q2 adjusted EPS rose 5.3% y/y to $1.98 as revenues increased 4.3% to $806.3M.Claims revenues grew 6.3%, led by anti-fraud analytics and property and restoration solutions.Verisk reaffirmed its 2026 revenue guidance of $3.19-$3.24B and adjusted EPS of $7.45-$7.75. Verisk (VRSK - Free Report) has reported second-quarter 2026 diluted adjusted earnings of $1.98 per share, beating the Zacks Consensus Estimate of $1.94 by 2.1%. The figure increased 5.3% from the year-ago quarter.

Revenues of $806.3 million topped the consensus mark of $802.4 million by 0.5% and rose 4.3% year over year. Organic constant-currency growth was 5.8%, supported by an 8% increase in underlying subscription revenues and growth across both Underwriting and Claims.

VRSK Posts Higher Insurance RevenuesUnderwriting revenues increased 3.5% year over year to $569 million. On an organic constant-currency basis, revenues advanced 5.6%.

Growth reflected annual price increases tied to continued enhancements in the models and content supporting Verisk’s forms, rules and loss cost services. The company also benefited from sales of expanded catastrophe and risk solutions to new and existing customers.

Verisk Gains From ClaimsClaims revenues rose 6.3% year over year to $237 million. Organic constant-currency growth was 6.1%, outpacing the reported growth rate of the Underwriting business.

The improvement was primarily driven by anti-fraud analytics, and property and restoration solutions. These offerings supported broader Insurance revenue growth as carriers continued using Verisk’s data and technology across underwriting and claims decisions.

VRSK Maintains Strong EBITDA MarginAdjusted EBITDA increased 4.2% year over year to $463.6 million. On an organic constant-currency basis, adjusted EBITDA grew 7.4%, reflecting revenue growth and continued cost discipline.

The adjusted EBITDA margin was 57.5% compared with 57.6% in the prior-year quarter. Adjusted EBITDA expenses increased to $342.7 million from $327.8 million, while operating income rose to $363.7 million from $354.3 million.

Verisk Faces Pressure on GAAP EarningsNet income declined 9.8% year over year to $228.6 million. The net income margin contracted to 28.4% from 32.8%, while diluted GAAP earnings fell 3.3% to $1.75 per share.

The decline reflected a higher effective tax rate, increased net interest expenses and legal fees connected with ongoing litigation. Net interest expenses increased to $52.8 million from $35.5 million, while the effective tax rate rose to 24.6% from 22.7%.

VRSK Delivers Strong Cash Flow GrowthNet cash provided by operating activities jumped 49.7% year over year to $366 million. The free cash flow increased 57.9% to $297.9 million despite capital expenditure rising 22% to $68.1 million.

The cash flow improvement was primarily driven by higher operating profit and the timing of certain vendor and tax payments. Verisk ended June with $551.4 million in cash and cash equivalents compared with $2.18 billion at the end of 2025.

Verisk Accelerates Capital ReturnsThe company entered a $200-million accelerated share repurchase program during the quarter. It received an initial delivery of 949,190 shares at an initial price of $179.10, representing roughly 85% of the aggregate purchase price.

In the first six months of 2026, Verisk funded aggregate share repurchases of $1.9 billion and received an initial delivery of 8.5 million shares at an average price of $186.32. The company had $800 million remaining under its repurchase authorization at the quarter-end.

Verisk Advances Data & AI StrategyManagement said that Verisk continues to invest in proprietary datasets and deploy advanced artificial intelligence technologies across those assets. The strategy is aimed at generating differentiated insights and strengthening value for insurance clients.

The company expects growth to return to levels consistent with its Investor Day targets during the second half of 2026. Verisk also approved another quarterly cash dividend of 50 cents per share, payable Sept. 30, to shareholders of record as of Sept. 15.

VRSK Reaffirms 2026 OutlookVerisk maintained its 2026 revenue guidance of $3.19-$3.24 billion. Management expects adjusted EBITDA of $1.79-$1.83 billion and an adjusted EBITDA margin of 56-56.5%.

Diluted adjusted earnings are projected between $7.45 and $7.75 per share. The company expects a tax rate of 23-26%, capital expenditure of $260-$280 million and interest expenses of $190-$200 million.

VRSK carries a Zacks Rank #4 (Sell) at present.

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

Earnings SnapshotIQVIA Holdings Inc. (IQV - Free Report) reported second-quarter 2026 adjusted earnings of $3.15 per share, rising 12.1% year over year and beating the Zacks Consensus Estimate of $3.02 by 4.3%.

Revenues of $4.36 billion increased 8.7% and topped the consensus mark of $4.29 billion by 1.6%.

Waste Connections, Inc. (WCN - Free Report) reported impressive second-quarter 2026 results.

WCN reported second-quarter 2026 adjusted earnings of $1.50 per share, beating the Zacks Consensus Estimate of $1.35 by 11.1%. Earnings increased 16.3% from $1.29 in the year-ago quarter.

Revenues of $2.56 billion surpassed the consensus estimate of $2.53 billion by 1.1% and rose 6.4% year over year.

Lennox International (LII - Free Report) came out with quarterly earnings of $7.72 per share, beating the Zacks Consensus Estimate of $7.63 per share. This compares to earnings of $7.82 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +1.18%. A quarter ago, it was expected that this manufacturer of furnaces, air conditioners and other products would post earnings of $3.16 per share when it actually produced earnings of $3.35, delivering a surprise of +6.01%.

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

Lennox, which belongs to the Zacks Building Products - Air Conditioner and Heating industry, posted revenues of $1.55 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.12%. This compares to year-ago revenues of $1.5 billion. The company has topped consensus revenue estimates just once 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.

Lennox shares have added about 12.1% since the beginning of the year versus the S&P 500's gain of 8.5%.

What's Next for Lennox?While Lennox 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 Lennox was favorable. 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 #2 (Buy) for the stock. So, the shares are expected to outperform 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 $7.96 on $1.59 billion in revenues for the coming quarter and $24.45 on $5.63 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, Building Products - Air Conditioner and Heating is currently in the top 14% 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.

One other stock from the same industry, Tecogen Inc. (TGEN - Free Report) , is yet to report results for the quarter ended June 2026.

This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of -50%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Tecogen Inc.'s revenues are expected to be $5.92 million, down 18.9% from the year-ago quarter.

Key Takeaways Rollins faced weaker consumer-led residential demand, while relationship-based channels outperformed.Commercial revenues rose 8.6%, termite gained 10.5% and residential pest control increased 6.6%.Technology improved miles driven per vehicle by 8%, helping offset a 30% rise in fuel costs. Rollins, Inc. (ROL - Free Report) is working through a more uneven demand backdrop as its pest-control model continues to evolve.

The key issue is not whether demand disappeared, but where it shifted. Consumer-led residential activity softened, while commercial, termite, technology and acquisitions remain central to the long-term growth story.

Rollins Sees Demand Shift Across Sales ChannelsRollins reported that second-quarter results fell short of expectations because certain residential brands, including Orkin, were more exposed to consumer-initiated demand through search, digital media and inbound calls. Lead volume weakened during the quarter, pressuring residential customer acquisition.

The softness was not uniform. Relationship-based channels, including home builders and door-to-door selling, delivered organic growth above the company’s targeted 7-8% range. HomeTeam produced double-digit residential growth, while Fox grew organically in the high teens, underscoring the value of Rollins’ multi-brand model.

ROL’s Commercial and Termite Units Gain GroundThe mix shift was visible in second-quarter service-line results. Commercial pest control revenues increased 8.6%, and termite and ancillary revenues rose 10.5%, compared with 6.6% growth in residential pest control.

That matters because commercial and termite activity can help cushion periods when consumer-driven residential leads are less dependable. Rentokil Initial plc (RTO - Free Report) , which operates the Rentokil Terminix business in North America, also keeps investor attention on pest-control scale and route density. Ecolab Inc. (ECL - Free Report) , through its pest elimination operations, adds another reference point for commercial service demand.

Rollins Technology Targets Labor EfficiencyRollins still operates a labor-intensive service model, so efficiency depends on how well technicians are routed, scheduled and supported in the field. In the second quarter, management said miles driven per vehicle per month improved 8%, helping offset a 30% rise in fuel costs.

Technology tools such as VRM and Orkin 2.0 can reduce unnecessary travel and improve service density. BOSS and BizSuite can also support payments, customer support and commercial selling, which should matter as Rollins works to align labor capacity with variable demand.

ROL Keeps Using Acquisitions to ScaleAcquisitions remain part of Rollins’ growth formula. The company completed six acquisitions in the second quarter, including Romex in early April, and spent $117 million on acquisitions during the period.

Purchased businesses can accelerate market-share gains, customer additions and geographic expansion in a fragmented industry. Still, the strategy requires careful integration. Goodwill rose to $1.45 billion at June 30, 2026, from $1.37 billion at Dec. 31, 2025, showing how acquisitions are expanding the balance sheet as well as the revenue base.

Rollins Protects Shareholder Returns With DividendsRollins has continued returning cash to shareholders even as near-term operating pressure has increased. Annual dividend payments rose from $264.3 million in 2023 to $327.9 million in 2025.

The company also paid $88 million in dividends in the second quarter of 2026 and reported dividends paid per share of 18.25 cents. For income-focused investors, that consistency may help offset concerns around softer residential lead flow and margin pressure.

ROL Scores Highlight a Split Trend OutlookThe bottom line is that Rollins’ outlook is split between near-term estimate pressure and longer-term operating levers. Technology, acquisitions and recurring service demand remain useful supports, but weaker consumer-initiated residential demand has reduced the margin for execution errors.

ROL carries a Zacks Rank #5 (Strong Sell) at present.

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

The stock has a Growth Score of B and Momentum Score of B, while its VGM Score of C is more neutral. Since Style Scores are designed to complement the Zacks Rank, the positive Growth and Momentum readings do not override the caution signaled by the Rank.

Parsons (PSN - Free Report) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of $0.74. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -108.11%. A quarter ago, it was expected that this software and infrastructure services provider would post earnings of $0.7 per share when it actually produced earnings of $0.79, delivering a surprise of +12.86%.

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

Parsons, which belongs to the Zacks Technology Services industry, posted revenues of $1.58 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.92%. This compares to year-ago revenues of $1.58 billion. The company has not been able to beat consensus revenue estimates 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.

Parsons shares have added about 0.4% since the beginning of the year versus the S&P 500's gain of 8.5%.

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

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

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

Ahead of this earnings release, the estimate revisions trend for Parsons 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 $0.86 on $1.76 billion in revenues for the coming quarter and $3.28 on $6.64 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, Technology Services is currently in the bottom 39% 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.

Symbotic Inc. (SYM - Free Report) , another stock in the same industry, 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 earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +340%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Symbotic Inc.'s revenues are expected to be $714.76 million, up 20.7% from the year-ago quarter.

GE Aerospace: Qatar Deal Fuels Multi-Billion Dollar Growth EngineGE HealthCare Technologies NASDAQ: GEHC reported second-quarter results marked by strong order growth, a record backlog and continued momentum in its Advanced Imaging Solutions and Pharmaceutical Diagnostics businesses, while Patient Care Solutions remained pressured by operational fulfillment issues.

President and CEO Peter Arduini said orders rose 11% year over year, supported by demand across the company’s three segments and geographies. The company ended the quarter with a record $23.9 billion backlog, up $2.6 billion from a year earlier and $2.1 billion sequentially, while book-to-bill reached 1.15x.

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Honeywell’s Breakup: Is HON Stock a Sweet Deal for Investors?“There really weren't any particular one-timers” behind the order performance, Arduini said during the company’s earnings call, attributing the growth to broad-based commercial execution, its legacy portfolio and contributions from newer products. He said demand was strong across ultrasound, MR, CT, molecular imaging, vascular labs and patient monitoring.

Second-quarter results and outlook Revenue totaled $5.3 billion, representing 3.5% organic growth from the prior-year period. Product revenue increased 4.7%, while service revenue grew 7.7%, aided by operational performance and the recent Intelerad acquisition.

Ultrasound Weight Loss: GE HealthCare and Novo Nordisk’s PlayAdjusted EBIT was $750 million, including $23 million of recognized refunds related to tariffs incurred during the first quarter. Adjusted EBIT margin was 14.2%, down 40 basis points year over year. Adjusted earnings per share rose 6.6% to $1.13, including a $0.04 benefit from tariff refunds and a $0.02 benefit from a lower tax rate compared with the prior year.

Free cash flow was $68 million during the quarter, including $107 million in tariff refunds. The company repurchased about $200 million of shares and continued paying its dividend.

GE HealthCare maintained its full-year outlook, calling for:

Organic sales growth of 3% to 4%; Adjusted EBIT margin expansion of 10 to 40 basis points, resulting in a 15.4% to 15.7% margin range; Adjusted EPS of $4.80 to $5.00, representing about 5% to 9% year-over-year growth; and Approximately $1.6 billion of free cash flow. For the third quarter, the company expects organic revenue growth of 3% to 4% and low-double-digit adjusted EPS growth year over year.

Chief Financial Officer Jay Saccaro said the company entered the third quarter with equipment revenue nearly 85% secured, several percentage points above prior quarters. He also said second-half performance is expected to benefit from Patient Care Solutions stabilization, increased radiopharmaceutical sales and growth from Flyrcado.

Imaging and diagnostics drove growth Advanced Imaging Solutions, which combines the former Imaging and Advanced Visualization Solutions businesses, posted 5% organic revenue growth. Performance was led by cardiovascular and interventional solutions, CT and molecular imaging. Segment EBIT margin expanded 90 basis points year over year, helped by volume and pricing, partly offset by inflation.

Pharmaceutical Diagnostics delivered 14.6% organic revenue growth, driven by contrast media volumes and pricing and by U.S. radiopharmaceutical growth. Segment EBIT margin increased 30 basis points to 29.6% despite planned investments in new products and the innovation pipeline.

Arduini highlighted double-digit revenue growth for Vizamyl, an amyloid PET imaging agent, which he linked to increased therapy adoption and broader diagnostic capabilities for Alzheimer’s disease. The company also delivered 545 Flyrcado doses in the week ended July 24, about 40% above April levels. GE HealthCare said it added customers during the quarter and expects their utilization to increase in the second half.

The company reiterated its expectation that Flyrcado can generate annual revenue of $500 million or more by 2028. Saccaro said current demand for contrast media is approaching total market supply, while Arduini said the company expects the contrast market to benefit from procedure growth over time.

GE HealthCare also cited customer interest in its photon-counting CT platform, Photonova Spectra, and expects CE marking in the second half of 2026. The company said the platform was not a material contributor to second-quarter orders but could become a more meaningful growth driver late this year and in 2027.

Patient Care Solutions under review Patient Care Solutions organic revenue declined 13.5%, and the segment generated negative EBIT. Management attributed the results to operational fulfillment challenges, including shortages of critical components that constrained the company’s ability to fill certain orders.

Arduini said the company has implemented supply and manufacturing changes intended to improve shipment velocity and backlog conversion for its monitoring and anesthesia product lines. He said July had started well and that management expects sequential improvement in both sales and profitability during the second half.

Despite the revenue decline, Patient Care Solutions reported strong first-half orders growth, particularly in monitoring, driven by new platforms and a sales-force realignment. Demand for premium anesthesia products internationally also contributed.

The company is conducting a strategic review of Patient Care Solutions, considering continued ownership, a sale or other value-enhancing transactions. Arduini said the review will assess the portfolio, geographic footprint, cost structure and whether the business could perform better under another owner. He said it was too early to discuss potential uses of any proceeds from a transaction.

Margins, inflation and leadership transition Saccaro said inflation created a roughly 120-basis-point headwind to second-quarter margins, reflecting higher memory chip, oil, freight and other component costs. He said the company’s $250 million inflation assumption remains appropriate and that price and cost actions taken during the second quarter are expected to contribute more meaningfully in the second half and into 2027.

Arduini said newer products are being designed with higher clinical value, pricing and gross-margin potential. He cited the Vivid Pioneer ultrasound platform as an example of a product with AI capabilities, lower manufacturing costs and higher gross margins than its predecessor.

The company also announced that Saccaro will leave GE HealthCare for a role that expands beyond finance. George Newcomb, the company’s controller and chief accounting officer, will serve as interim CFO while the company conducts its search for a permanent successor.

About GE HealthCare Technologies (NASDAQ:GEHC)GE HealthCare Technologies NASDAQ: GEHC is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Penske Automotive (PAG - Free Report) came out with quarterly earnings of $3.62 per share, beating the Zacks Consensus Estimate of $3.38 per share. This compares to earnings of $3.78 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +7.10%. A quarter ago, it was expected that this auto dealership chain would post earnings of $2.91 per share when it actually produced earnings of $3.05, delivering a surprise of +4.81%.

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

Penske, which belongs to the Zacks Automotive - Retail and Whole Sales industry, posted revenues of $8.51 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 7.40%. This compares to year-ago revenues of $7.66 billion. The company has topped consensus revenue estimates two times over the last four quarters.

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

Penske shares have added about 39% since the beginning of the year versus the S&P 500's gain of 8.5%.

What's Next for Penske?While Penske 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 Penske 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 $3.51 on $8.08 billion in revenues for the coming quarter and $13.45 on $32.13 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, Automotive - Retail and Whole Sales is currently in the bottom 24% 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.

One other stock from the same industry, Titan Machinery (TITN - Free Report) , is yet to report results for the quarter ended July 2026.

This agriculture and construction equipment seller is expected to post quarterly loss of $0.33 per share in its upcoming report, which represents a year-over-year change of -26.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Titan Machinery's revenues are expected to be $489.03 million, down 10.5% from the year-ago quarter.

Analysts on Wall Street project that Guardant Health (GH - Free Report) will announce quarterly loss of -$0.40 per share in its forthcoming report, representing an increase of 9.1% year over year. Revenues are projected to reach $316 million, increasing 36.2% from the same quarter last year.

The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

That said, let's delve into the average estimates of some Guardant Health metrics that Wall Street analysts commonly model and monitor.

Analysts' assessment points toward 'Revenue- Oncology' reaching $211.43 million. The estimate indicates a year-over-year change of +33.2%.

The combined assessment of analysts suggests that 'Revenue- Screening' will likely reach $44.83 million. The estimate suggests a change of +202.6% year over year.

The consensus among analysts is that 'Revenue- Biopharma and data' will reach $57.89 million. The estimate suggests a change of +3.3% year over year.

The consensus estimate for 'Total tests performed (oncology tests)' stands at 89,203 . Compared to the present estimate, the company reported 64,000 in the same quarter last year.

View all Key Company Metrics for Guardant Health here>>>

Shares of Guardant Health have demonstrated returns of -4.3% over the past month compared to the Zacks S&P 500 composite's +1.9% change. With a Zacks Rank #4 (Sell), GH is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

CBRE Group (CBRE - Free Report) came out with quarterly earnings of $1.56 per share, beating the Zacks Consensus Estimate of $1.47 per share. This compares to earnings of $1.19 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +6.12%. A quarter ago, it was expected that this provider of real estate investment management services would post earnings of $1.13 per share when it actually produced earnings of $1.61, delivering a surprise of +42.48%.

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

CBRE, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $11.23 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.54%. This compares to year-ago revenues of $9.75 billion. 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.

CBRE shares have lost about 8.6% since the beginning of the year versus the S&P 500's gain of 8.5%.

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

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

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

Ahead of this earnings release, the estimate revisions trend for CBRE was favorable. 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 #2 (Buy) for the stock. So, the shares are expected to outperform 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 $1.82 on $11.66 billion in revenues for the coming quarter and $7.75 on $46.95 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, Real Estate - Operations is currently in the top 33% 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, RMR Group (RMR - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This real estate management services provider is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of -28.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

RMR Group's revenues are expected to be $162.67 million, up 5.1% from the year-ago quarter.

Key Takeaways Crescent Energy is expected to post Q2 profit of 59 cents per share on $1.2 billion in revenues.Oil sales prices are estimated at $88 per barrel, versus $61 a year ago, supporting revenue and cash flow.Natural gas prices are projected at 98 cents per Mcf, down from $2.71, potentially weighing on results. Crescent Energy Company (CRGY - Free Report) is set to release second-quarter 2026 results on Aug. 3. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a profit of 59 cents per share on revenues of $1.2 billion.

Let’s delve into the factors that might have influenced the upstream energy firm’s performance in the June quarter. But it’s worth taking a look at Crescent Energy’s previous-quarter results first.

Highlights of Q1 Earnings & Surprise HistoryIn the last reported quarter, the Houston, TX-based onshore oil and gas producer beat the consensus mark due to record production and early Permian integration gains. Crescent Energy had reported adjusted earnings per share of 53 cents, which surpassed the Zacks Consensus Estimate by 14 cents. Sales of $1.2 billion also beat the consensus mark by 0.3%.

CRGY topped the Zacks Consensus Estimate for earnings in each of the last four quarters. The energy operator has a trailing four-quarter earnings surprise of 53.6%, on average. This is depicted in the graph below:

Trend in Estimate RevisionThe Zacks Consensus Estimate for the third-quarter bottom line has been revised 3.5% upward in the past seven days. The estimated figure indicates a 37.2% improvement year over year. The Zacks Consensus Estimate for revenues also suggests a 37.2% increase from the year-ago period.

Factors to ConsiderCrescent Energy's second-quarter 2026 results were likely supported by firmer realized oil prices. The Zacks Consensus Estimate for average oil sales price stands at $88 per barrel, well above the $61 recorded in the year-ago quarter, pointing to a much stronger pricing environment. Better oil realizations generally translate into higher revenue and cash flow for producers with meaningful crude exposure. If Crescent captured a similar pricing trend during the quarter, stronger oil revenues could have provided a meaningful lift to earnings despite normal production variability.

The outlook for oil revenues also appears constructive heading into the quarter. The Zacks Consensus Estimate for second-quarter 2026 oil revenues is pegged at a little more than $1 billion, representing a notable increase from the $602 million in the second quarter of 2025. Such an improvement suggests expectations for stronger revenue generation, supported by favorable commodity pricing and operating conditions. Since oil remains Crescent Energy's primary earnings driver, higher expected oil revenues likely strengthened the company's overall earnings profile and could have contributed positively to quarterly profitability.

While oil fundamentals appear supportive, natural gas could have remained a headwind. The Zacks Consensus Estimate for second-quarter 2026 average natural gas sales price is 98 cents per thousand cubic feet (Mcf), sharply below the year-ago mark of $2.71 per Mcf. Such a steep decline in expected gas realizations likely weighed on revenue generated from the company's gas production. Even if production volumes remained stable, weaker pricing could have offset part of the benefit from stronger oil markets, limiting overall earnings growth.

What Does Our Model Say?The proven Zacks model does not conclusively predict an earnings beat for CRGY for the second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -8.94%.

Zacks Rank: CRGY currently carries a Zacks Rank #3.

Stocks to ConsiderWhile an earnings beat looks uncertain for Crescent Energy, here are some firms from the energyspace that you may want to consider based on our model:

Devon Energy (DVN - Free Report) : It has an Earnings ESP of +0.61% and a Zacks Rank #3.Devon Energy is scheduled to release earnings on Aug. 4.

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

For 2026, Devon Energy has a projected earnings growth rate of 18.4%. Valued at around $26.8 billion, it has gained 26.3% in a year.

Magnolia Oil & Gas (MGY - Free Report) : It has an Earnings ESP of +4.28% and a Zacks Rank #3.Magnolia Oil & Gas is scheduled to release earnings on Aug. 5.

For 2026, Magnolia Oil & Gas has a projected earnings growth rate of 50.3%. Valued at around $4.4 billion, it has lost 4% in a year.

Excelerate Energy (EE - Free Report) : It has an Earnings ESP of +11.04% and a Zacks Rank #3.Excelerate Energy is scheduled to release earnings on Aug. 5.

For 2026, Excelerate Energy has a projected earnings growth rate of 18.8%. Valued at around $4.3 billion, it has gained 48.1% in a year.

Strategic Education (STRA - Free Report) came out with quarterly earnings of $1.76 per share, missing the Zacks Consensus Estimate of $1.79 per share. This compares to earnings of $1.52 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -1.68%. A quarter ago, it was expected that this for-profit education company would post earnings of $1.51 per share when it actually produced earnings of $1.42, delivering a surprise of -5.96%.

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

Strategic Education, which belongs to the Zacks Schools industry, posted revenues of $337.26 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.14%. This compares to year-ago revenues of $321.47 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.

Strategic Education shares have added about 1.5% since the beginning of the year versus the S&P 500's gain of 8.5%.

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

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

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

Ahead of this earnings release, the estimate revisions trend for Strategic Education 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 $1.89 on $325.77 million in revenues for the coming quarter and $7.20 on $1.29 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, Schools is currently in the top 36% 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, Laureate Education (LAUR - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 30.

This for-profit higher education purveyor is expected to post quarterly earnings of $0.96 per share in its upcoming report, which represents a year-over-year change of +21.5%. The consensus EPS estimate for the quarter has been revised 1.1% higher over the last 30 days to the current level.

Laureate Education's revenues are expected to be $605.46 million, up 15.5% from the year-ago quarter.

Key Takeaways Badger Meter expands beyond meters with cellular networks, sewer monitoring, AI and premium software.Data-center demand lifted flow instrumentation sales 6% in Q2 2026 while raising component costs.2026 revenue excluding acquisitions is seen roughly flat, with growth weighted toward the fourth quarter. Badger Meter, Inc. (BMI - Free Report) is tied closely to the digitization of water and wastewater infrastructure. Cellular networks, artificial intelligence, premium software and continuous sewer monitoring are widening the company’s role beyond meter replacement.

Data-center expansion adds another layer. It supports demand for flow meters used in cooling systems, while also increasing pressure on electronic component supply and costs.

Badger Meter Rides Cellular Water Network AdoptionBadger Meter’s ORION Cellular endpoints help utilities upgrade meter networks without building separate communications infrastructure. The company’s dynamic multi-carrier technology adds flexibility by allowing network resiliency to become part of the modernization case.

The long runway remains tied to replacement demand. Badger Meter estimates that about 70% of installed U.S. water meters have already shifted to some form of radio technology, leaving continued radio upgrades and broader cellular adoption as multi-year drivers.

BMI Extends Monitoring Into Sewers and StormwaterSmartCover pushed Badger Meter deeper into wastewater collection by adding continuous sewer-level and lift-station monitoring. These tools help utilities detect overflows, identify inflow and infiltration, reduce unnecessary cleaning and monitor pump-station performance.

UDlive extends that strategy into sewer-line monitoring across more use cases, network conditions and geographies. Together, SmartCover and UDlive give utilities more sensing, communication and software configurations, which matters because sewer and stormwater networks often differ widely by location and operating need.

Badger Meter Adds AI and Premium Software ToolsBadger Meter’s software layer is becoming more important as utilities collect more network data. Cobalt embedded artificial intelligence, EyeOnWater Premium, ORION Lens and the BEACON Field app are designed to turn field readings into operating and customer-service decisions.

That software can raise the value of installed hardware after deployment. It also supports recurring revenue and reinforces Badger Meter’s Network as a Service positioning, where utility customers buy a broader mix of communications, analytics and services rather than only meters.

Itron, Inc. (ITRI - Free Report) is relevant in this discussion because it also serves utilities through intelligent networks, software and services. Xylem Inc. (XYL - Free Report) offers a broader water technology comparison point for investors watching infrastructure, analytics and water-system modernization.

BMI Sees Data Centers Lift Flow Demand and CostsFlow instrumentation sales increased 6% year over year in the second quarter of 2026. Management cited broad water-related demand, with data-center orders supporting clamp-on meters and magnetic meters used in cooling towers and flow-monitoring systems.

The same data-center buildout creates a cost issue. Badger Meter flagged rising electronic component costs and availability constraints tied to artificial intelligence and data-center demand, with exposure spanning cellular endpoints, ultrasonic meters and beyond-the-meter products.

BMI has used pricing discipline and escalation provisions in many contracts to manage cost pressure. Still, these pressures were not easing, keeping gross margin recovery dependent on mix, volume, project execution and supplier availability.

Badger Meter's Trend Exposure Needs ConfirmationBadger Meter’s long-term thesis is supported by cellular adoption, hardware-enabled recurring software and broader sewer monitoring. The company also reaffirmed its five-year framework for high-single-digit sales growth, 10-15% EPS growth and free cash flow conversion above 100% of net income.

Near-term confirmation is still needed. Full-year 2026 revenue excluding acquisitions is expected to be roughly flattish with 2025, and year-over-year growth is weighted toward the fourth quarter as awarded advanced metering infrastructure projects ramp unevenly.

The stock currently carries a Zacks Rank #4 (Sell) and has a VGM Score of D. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

That does not negate Badger Meter’s exposure to smarter water infrastructure. It does mean investors should balance the long-term digitization opportunity against project timing, component inflation, acquisition amortization and valuation, with shares recently trading at a premium to key benchmarks.

Key Takeaways Badger Meter beat Q2 estimates, but earnings fell 12.8% and revenues declined 6.6% year over year.BMI's sales rose 10% sequentially as awarded utility projects began deployments and order rates improved.Badger Meter's cash and credit support flexibility, but margins and project timing remain key risks. Badger Meter, Inc. (BMI - Free Report) has a cleaner entry point after a 33.5% decline over the past year, but the second-quarter beat does not settle the investment debate.

The company still has durable water-sector demand, improving sequential sales and a flexible balance sheet. The offset is lower year-over-year revenues, weaker margins, acquisition costs and a valuation that requires steady execution.

BMI's Q2 Beat Masks a Softer Revenue BaseBadger Meter reported second-quarter 2026 earnings of $1.02 per share, topping the Zacks Consensus Estimate of $1.01 by 1.0%. Revenues of $222.32 million beat the consensus mark of $221.06 million by 0.6%.

The beat is less convincing than the headline. Earnings fell 12.8% from the prior year, while revenues declined 6.6%, making the durability of the recovery more important than modest upside versus expectations.

Utility water sales fell 8%, or 9% excluding two months of UDlive, as advanced metering infrastructure deployments remained uneven. Flow instrumentation sales rose 6% on water-related demand.

Xylem Inc. (XYL - Free Report) gives investors broader water technology exposure across water and wastewater applications. Itron, Inc. (ITRI - Free Report) is relevant because it serves utilities with metering, communications and infrastructure solutions.

Badger Meter's Recovery Is Back-End LoadedThe strongest near-term positive was the 10% sequential increase in sales. Awarded utility projects began initial deployments, including PRASA and several others, while order rates improved from the first quarter.

Management expects base quarterly revenues to improve sequentially through the rest of 2026. Third-quarter sales are expected to rise from the second quarter, but year-over-year growth is expected to be heavily weighted toward the fourth quarter.

That timing matters. Full-year revenues excluding UDlive are still expected to be roughly flattish with 2025, and some awarded projects may not reach full run rates by year-end.

A larger project cohort provides more coverage, but customer schedules, installation timing and short-cycle municipal orders can still shift quarterly performance.

Image Source: Zacks Investment Research

BMI's Cash Position Supports Strategic FlexibilityBadger Meter generated free cash flow of $21.9 million in the quarter, down from $40.6 million a year earlier. Cash from operations was $26.71 million, while capital expenditures totaled $4.84 million.

The company ended June 2026 with $95.73 million in cash and an undrawn $150 million credit facility. This supports research, acquisitions, dividends and repurchases.
Liquidity is not the same as accelerating cash generation. Primary working capital rose to 22.9% of sales from 20.0% at the end of the first quarter, reflecting project timing.

BMI spent $94.38 million on acquisitions, $25.25 million on share repurchases and $11.59 million on dividends during the quarter. Management still targets full-year free cash flow conversion above 100% of net income.

Badger Meter's Valuation Leaves Little RoomBMI trades at 28.48 times forward 12-month earnings and 19.02 times trailing 12-month enterprise value to EBITDA. Both are below the company’s five-year medians of 44.85 and 29.02, respectively.

That discount to history does not make the stock inexpensive. The enterprise value to EBITDA multiple remains above the Zacks sub-industry at 9.23 times and the S&P 500 at 18.24 times.

The $141 price target is based on 28.1 times forward 12-month earnings. That embeds confidence in project execution, margin discipline and profitable acquisition integration.

The margin setup leaves limited room for another setback. Gross margin slipped 30 basis points to 40.8%, while operating margin fell 110 basis points to 17.7%. Electronic component costs remain pressure points.

End NoteThe bottom line is that Badger Meter’s pullback alone is not enough to make the stock a buy. Sequential sales improvement, early project deployments and a flexible balance sheet support the stock, but weaker year-over-year results and margin pressure keep the risk-reward balanced.

A stronger case would require more consistent project shipments, margin stabilization and clearer evidence that UDlive and other acquired assets can become profitable contributors.

Currently, Badger Meter has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

SoFi Technologies, Inc. (SOFI - Free Report) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +9.09%. A quarter ago, it was expected that this company would post earnings of $0.12 per share when it actually produced earnings of $0.12, delivering no surprise.

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

SoFi Technologies, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $1.21 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.33%. This compares to year-ago revenues of $858.23 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.

SoFi Technologies shares have lost about 36.1% since the beginning of the year versus the S&P 500's gain of 8.5%.

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

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

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

Ahead of this earnings release, the estimate revisions trend for SoFi Technologies 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 $0.16 on $1.19 billion in revenues for the coming quarter and $0.59 on $4.66 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, Financial - Miscellaneous Services is currently in the bottom 27% 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.

One other stock from the same industry, Bitcoin Depot Inc. (BTMCQ - Free Report) , is yet to report results for the quarter ended June 2026.

This company is expected to post quarterly loss of $0.28 per share in its upcoming report, which represents a year-over-year change of -125%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Bitcoin Depot Inc.'s revenues are expected to be $106.4 million, down 38.2% from the year-ago quarter.

Joby Aviation, Inc. (JOBY - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 5. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of +12.5%.

Revenues are expected to be $28.97 million, up 289600% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.19% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Joby Aviation, Inc.?For Joby Aviation, Inc., the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -12.57%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that Joby Aviation, Inc. will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Joby Aviation, Inc. would post a loss of$0.21 per share when it actually produced a loss of -$0.21, delivering no surprise.

The company has not been able to beat consensus EPS estimates in any of the last four quarters.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Joby Aviation, Inc. doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Wall Street expects a year-over-year decline in earnings on higher revenues when Shake Shack (SHAK - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on August 5, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis burger chain is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of -25%.

Revenues are expected to be $417.79 million, up 17.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.03% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Shake Shack?For Shake Shack, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -8.34%.

On the other hand, the stock currently carries a Zacks Rank of #5.

So, this combination makes it difficult to conclusively predict that Shake Shack will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Shake Shack would post earnings of $0.11 per share when it actually produced break-even earnings, delivering a surprise of -100.00%.

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

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Shake Shack doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

For the quarter ended June 2026, Clean Harbors (CLH - Free Report) reported revenue of $1.74 billion, up 12% over the same period last year. EPS came in at $3.22, compared to $2.36 in the year-ago quarter.

The reported revenue represents a surprise of +6.79% over the Zacks Consensus Estimate of $1.62 billion. With the consensus EPS estimate being $2.74, the EPS surprise was +17.52%.

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.

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

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

Revenue- Direct Revenues- Environmental Services: $1.46 billion compared to the $1.4 billion average estimate based on three analysts. The reported number represents a change of +7.7% year over year.Revenue- Direct Revenues- Safety-Kleen Sustainability Solutions: $278.44 million versus $218.34 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +40.8% change.Adjusted EBITDA- Safety-Kleen Sustainability Solutions: $92.99 million compared to the $44.19 million average estimate based on three analysts.Adjusted EBITDA- Corporate Items: $-90.07 million compared to the $-80.92 million average estimate based on three analysts.Adjusted EBITDA- Environmental Services: $406.1 million compared to the $395.94 million average estimate based on three analysts.View all Key Company Metrics for Clean Harbors here>>>

Shares of Clean Harbors have returned +1.7% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

Reynolds Consumer Products (REYN - Free Report) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +2.44%. A quarter ago, it was expected that this company would post earnings of $0.25 per share when it actually produced earnings of $0.28, delivering a surprise of +12%.

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

Reynolds Consumer Products, which belongs to the Zacks Consumer Products - Discretionary industry, posted revenues of $944 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.26%. This compares to year-ago revenues of $938 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.

Reynolds Consumer Products shares have added about 12.6% since the beginning of the year versus the S&P 500's gain of 8.5%.

What's Next for Reynolds Consumer Products?While Reynolds Consumer Products 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 Reynolds Consumer Products 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 $0.36 on $915.46 million in revenues for the coming quarter and $1.59 on $3.74 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, Consumer Products - Discretionary is currently in the bottom 24% 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, Honest (HNST - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This consumer products company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -33.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Honest's revenues are expected to be $77.65 million, down 16.9% from the year-ago quarter.

Reddit RDDT stock attracted fresh attention from Wall Street ahead of its second-quarter earnings report, after KeyBanc Capital Markets initiated coverage of the social media company with an Overweight rating and a $225 price target.

The target implies roughly 26% upside from Tuesday's closing price. Shares were up about 1.2% in premarket trading.

KeyBanc said Reddit's platform is well positioned to benefit from the growth of artificial intelligence, citing its large online community and the increasing value of user-generated content for AI models.

Analyst Justin Patterson wrote that Reddit's platform has become a trusted destination for online discussions and information.

“We believe this makes Reddit complementary to search, social, web, and LLMs, providing the Company with a durable source of traffic,” Patterson said. “In turn, Reddit’s content can be monetized via ads and data licensing.”

The analyst believes Reddit remains on track to achieve its long-term target of reaching one billion users, with AI-generated citations expected to become an additional driver of user growth.

KeyBanc expects Reddit's investments in community engagement and advertising monetization to support sustained annual revenue growth of more than 30%.

The brokerage also forecasts that the company could eventually achieve an EBITDA margin of around 50%, supported by its asset-light business model and relatively low capital expenditure requirements.

Reddit currently operates more than 100,000 Subreddits, with KeyBanc arguing that the platform's community-driven discussions have become increasingly valuable for large language models and AI training.

“RDDT is a unique way to participate in AI growth with an asset-light business model,” Patterson wrote in the note.

The firm also noted that Reddit's capital expenditures account for less than 1% of revenue, giving it confidence that improving EBITDA margins could translate into stronger free cash flow generation over time.

KeyBanc forecasts Reddit's revenue reaching $3.24 billion in 2026, rising to $4.30 billion in 2027 and $5.46 billion in 2028, while EBITDA is projected to increase from $1.43 billion to $2.73 billion over the same period.

Despite the positive outlook, Reddit shares remain down about 22.4% year to date, although the stock has gained more than 20% over the past three months.

According to LSEG data, 20 of the 30 analysts covering Reddit currently rate the stock either Buy or Strong Buy.

Google AI deal remains a key risk ahead of earningsWhile KeyBanc highlighted Reddit's AI opportunity, investors are also monitoring uncertainty surrounding the company's AI licensing agreements.

The Wall Street Journal recently reported that Reddit is reviewing its 2024 agreement that allows Google to access Reddit content for AI training.

The report prompted several brokerages to flag potential risks.

RBC Capital Markets said ending the arrangement "would be a significant step backward," while Wells Fargo warned it could pressure user growth, revenue and valuation, including a potential $500 million impact on AI licensing revenue.

DA Davidson also cautioned that limiting AI access could weigh on daily active user growth, particularly among logged-out users.

Reddit is scheduled to report second-quarter results after the market closes on Thursday.

According to Koyfin, Wall Street expects the company to report revenue of approximately $730 million, up from $499.6 million a year earlier.

Earnings per share are projected to more than double to $0.97 from $0.45 in the prior-year period.

Every dollar Robinhood Chain earns, a tenth goes to a DAO treasury controlled by strangers. The arrangement has been covered a dozen times as good news for Arbitrum’s token.

Summary

Robinhood Chain runs on Arbitrum’s Orbit stack, and under the Arbitrum Expansion Program every Orbit chain settling outside Arbitrum One routes 10% of net protocol revenue back to the Arbitrum ecosystem. The split is fixed: 8% to the Arbitrum DAO treasury, controlled by ARB tokenholders, and 2% to the Arbitrum Developer Guild. The figures are now real, no longer theoretical. Robinhood Chain has passed $2 million in cumulative revenue since its July 1 launch, with roughly $200,000 flowing to Arbitrum, and Arbitrum reported the network earning over $800,000 in a single seven-day stretch, annualizing near $42 million. The payment is calculated on net revenue after operating costs, applies to sequencer profits, and may extend to MEV capture if the chain adopts Arbitrum’s Timeboost mechanism. Every version of this story published so far has been written for ARB holders. The unexamined half is what the arrangement costs the brokerage, and why a company with a $2.2 billion war chest chose to pay it. Nobody has asked the other question: what a licensed brokerage that spent a decade removing intermediaries bought by becoming a tenant.

There is a particular irony in a company whose entire founding pitch was the removal of intermediaries acquiring one. Robinhood spent a decade telling retail investors that the layers between them and the market were extractive, that commissions were a tax on participation, and that the right architecture was fewer parties taking a cut. On July 1 it launched its own blockchain, the most complete expression of that philosophy available: a settlement layer it controls, sequencing it operates, and fee revenue it collects. And under the terms of the technology stack it chose, a tenth of what that chain nets goes to somebody else. Specifically, 8% goes to a treasury controlled by holders of a governance token, and 2% funds a developer guild, both under an arrangement called the Arbitrum Expansion Program. The mechanism has been reported repeatedly since Offchain Labs disclosed it, always from one direction: what it means for ARB, why the token rallied, how a governance asset acquired a revenue claim. This piece asks the question those pieces did not. What did Robinhood buy, what is it paying, and does the arithmetic work.

What the arrangement actually is The mechanics are specific enough to matter, and they have been reported loosely in several places.

The Arbitrum Expansion Program applies to any Layer 2 or Layer 3 chain built with Arbitrum’s Orbit toolkit that settles outside Arbitrum One or Arbitrum Nova. Those chains route 10% of net protocol revenue back to the Arbitrum ecosystem. Of that 10%, eight percentage points flow to the Arbitrum DAO treasury, which ARB tokenholders control through governance, and two percentage points fund the Arbitrum Developer Guild, which supports tooling, grants, and protocol work.

Three details in that description carry weight and are frequently dropped.Net, not gross. The calculation runs on revenue remaining after network operating costs, which ties the payment to a chain’s actual profitability instead of raw transaction throughput. That is materially friendlier to an operator than a gross fee would be, and it means a chain running at thin margins pays little regardless of volume.

Sequencer profits are the base. The revenue subject to sharing comes from the entity that orders and processes transactions, which on Robinhood Chain is Robinhood. That is the same revenue line this publication has examined as the core economics of any Layer 2, and it is precisely the line the chain exists to capture.

MEV may be included. If the chain adopts Timeboost, Arbitrum’s mechanism for capturing maximal extractable value from transaction ordering, those revenues could fall under the sharing arrangement as well. Whether Robinhood adopts it is a live question with real dollars attached, since ordering advantages on a chain hosting tokenized equities are worth considerably more than on a memecoin venue.

For contrast, Arbitrum One sends 100% of its own fees to the Arbitrum treasury. The Orbit arrangement is the lighter one, which is the point: it is the price of using the stack without settling on the flagship chain.

The numbers, now that they exist For the first three weeks this was an abstraction. It is not anymore.

Robinhood Chain has passed $2 million in cumulative revenue since its July 1 launch, with approximately $200,000 routed to the Arbitrum ecosystem under the program. That is a clean 10%, and it is the first hard confirmation that the mechanism operates as described, not as an aspiration in a governance document.

Around that sit the throughput figures that produced it. The chain processed roughly 4 million transactions in its first week. Uniswap alone recorded $500 million in 24-hour volume on it. A single day in early July cleared $568 million. Within about two weeks the chain was clearing more than $800 million in daily decentralized exchange volume, briefly exceeding Ethereum’s, with roughly $3.9 billion across a week. Arbitrum reported the network earning over $800,000 in revenue across seven days, which annualizes near $42 million. Deposits crossed $600 million this week, rising 50% in seven days.

Now the distortion that every honest reading has to apply. The chain is running a 90-day gas subsidy, expiring around October, which means users are not paying the fees a mature chain would charge and the revenue figures are suppressed accordingly. Our audit of the chain’s first month documented how thoroughly that subsidy inflates activity metrics; it works in the opposite direction on revenue. The $42 million annualized figure is therefore both a real number and a floor, and the interesting reading comes after the subsidy lapses, when volumes and revenues both reprice. For broader context, crypto.news has also explained the subsidy distorting these numbers.

At current run rates, Arbitrum’s share is roughly $4 million a year. Against Robinhood’s quarterly revenue near $1.27 billion, that is a rounding error. Against the chain’s own economics, it is a tenth of everything.

What Robinhood bought The arrangement only looks strange if you assume the alternative was free. It was not, and the alternatives are worth setting out because the choice reveals the strategy.

Build independently. A brokerage could commission a chain from scratch, own 100% of sequencer revenue, and pay nothing to anyone. The cost is time, engineering risk, and security. Rolling your own settlement layer means auditing it, defending it, and answering for it when something breaks, which for a regulated financial institution holding customer assets is not a theoretical exposure. It also means no ecosystem: no existing tooling, no bridges, no wallets that already work.

Use an existing chain. Deploy on Arbitrum One or Base or anywhere else, pay ordinary fees, capture nothing. This is what Robinhood actually did first, launching tokenized stock offerings on Arbitrum in 2025 before committing to its own chain, and the limitation is obvious: you are a tenant with no landlord’s economics and no control over the roadmap, the fee schedule, or who else gets to build next door.

Take the Orbit path. Get a chain you brand, control, and sequence, with Offchain Labs providing technical support, inheriting the Arbitrum ecosystem’s tooling and security assumptions, at the price of a tenth of net revenue. The launch specifications suggest what that bought: 100-millisecond block times, EVM compatibility, ETH as the gas asset instead of a new token nobody asked for, and a chain live and processing millions of transactions within a week of announcement.

Read that way, the 10% is a build-versus-buy decision resolved in favour of speed, and for a public company with a stock to defend and a crypto revenue line that fell 47% year over year in the first quarter, speed was plausibly worth more than margin. Our earnings analysis covered why the timing mattered so much.

The uncomfortable version of the same read is that Robinhood, having concluded that owning the rails is where the value sits, does not actually own them. It leases them, with favourable terms, from a decentralized organization whose token holders vote on what to do with the proceeds.

The tenant problem That last sentence is not a rhetorical flourish. It describes a governance relationship that no traditional financial infrastructure arrangement resembles, and it has consequences nobody has priced.

The 8% going to the Arbitrum DAO treasury is controlled by ARB tokenholders through governance votes. Those holders decide how the money is deployed. They also, through the same governance process, hold influence over the direction of the technology stack Robinhood’s chain depends on. A licensed brokerage supervised by federal regulators is now a revenue contributor to, and a dependent of, an entity whose decision-making runs through token voting by anonymous participants.

For most crypto-native businesses that is unremarkable. For a public company that files with the SEC, answers to a board, and holds customer assets under regulatory obligation, it is a novel counterparty structure. The questions it raises are practical, not philosophical: what happens if governance votes to change the fee arrangement, what recourse exists if the stack’s roadmap diverges from the tenant’s needs, and how a regulated institution documents dependency on a DAO in its risk disclosures.

There is also a competitive dimension. The Orbit program applies universally, meaning any competitor can take the same path on the same terms. The arrangement Robinhood entered is not exclusive and confers no advantage over the next brokerage to build a chain, which limits how much of a moat the whole exercise creates. What it does create is a template, and the rest of the industry has noticed: our coverage of the tokenized-equity race documented Nasdaq building blockchain share issuance with Kraken’s parent and ICE working with OKX, none of which requires anyone to build from scratch.

Does the arithmetic work Set aside the framing and ask the commercial question, because the answer determines whether any of this matters.

Roughly $42 million annualized in chain revenue, before the subsidy expires, against $4 million to Arbitrum. Against a company whose quarterly revenue runs near $1.27 billion, the chain contributes something in the low single-digit percentage range of annual revenue at current run rates, and the Arbitrum payment is immaterial to the parent by any measure.

Which means the fee share is not the story financially. It is the story structurally, because it clarifies what the chain actually is. Robinhood did not build a chain to earn sequencer fees; the numbers are too small relative to its brokerage business for that to be the motivation. It built one to control the settlement layer for tokenized equities, to avoid depending on a competitor’s infrastructure as that market develops, and to own the venue where its own products trade. Sequencer revenue is a byproduct, and 10% of a byproduct is a reasonable price for the option.

The test comes when the byproduct stops being small. If tokenized equities scale the way the DTCC’s entry into the same market suggests they might, and if Robinhood Chain hosts a meaningful share of that activity, the sequencer line grows and the 10% grows with it. A tenth of a rounding error is nothing. A tenth of a business is a negotiation, and the Arbitrum Expansion Program’s terms were set by the party that wrote them.

The precedent this sets Strip out the two companies and the arrangement describes something the industry has been moving toward without naming: infrastructure providers taking a percentage of businesses they do not operate.

Arbitrum’s position under this model is closer to a franchise operator than a blockchain. It supplies the technology, the tooling, the security assumptions, and the developer support, and it collects a percentage of what franchisees earn across an expanding set of chains it did not build. Offchain Labs has been explicit that this is the strategy, framing enterprise adoption as the revenue thesis and noting that the flagship chain’s economics are separate. The model compounds with adoption in a way that grants and one-time licensing never do.

That has an obvious appeal for anyone holding the governance token, and it has a less obvious implication for everyone building on the stack. A percentage arrangement set at launch, when the tenant is small and the terms are generous, is an arrangement that becomes expensive precisely when the tenant succeeds. Ten percent of nothing costs nothing. Ten percent of a settlement layer hosting a meaningful share of tokenized equities is a real line item, and it is collected by a party whose consent the tenant needed at the start and whose terms the tenant did not write.

The comparison from outside crypto is the app store. Developers accepted a percentage when the platform was small and the alternative was no distribution, and spent the following decade in litigation and regulatory complaint about the rate. Nothing about the Arbitrum arrangement is coercive in that way, since alternatives genuinely exist and the terms are public. But the structural shape is familiar, and the history of platform percentages is that they are renegotiated by the largest tenants, eventually, loudly.

Robinhood is now among the largest tenants on this particular platform. Whether it ever behaves like one is a question for the quarter after the subsidy expires, when the numbers stop being small enough to ignore.

What to watch The revenue line after October. The 90-day gas subsidy expires around then, and the first unsubsidized quarter is the only honest read on what the chain actually earns. Both volumes and revenues reprice, in opposite directions, and the net is unknown.

Whether Timeboost gets adopted. MEV capture on a chain hosting tokenized equities is worth real money, and adopting Arbitrum’s mechanism would likely bring those revenues under the sharing arrangement. The decision is a direct read on how Robinhood values ordering revenue against the cost of sharing it.

Disclosure in the filings. Whether the chain’s economics, including the Arbitrum arrangement, appear in Robinhood’s regulatory filings as a described dependency or a risk factor, and in what language. A public company documenting a revenue-sharing obligation to a DAO would be a first worth reading closely.

Whether the terms hold. The Expansion Program’s rates are set by Arbitrum governance. Any proposal to change them, in either direction, would test how much leverage a large Orbit tenant actually has, and Robinhood is now among the largest.

Competing chains on the same terms. Every brokerage that follows takes the same deal. If the tokenized-equity market fragments across several Orbit chains, the interesting question stops being what Robinhood pays and becomes what Arbitrum collects from an entire category it does not operate.

A final note on why the framing in the existing coverage matters more than it looks. Every account of this arrangement published so far was written for holders of a governance token, which meant the operative question was always whether the revenue share is large enough to justify a rally. That is a legitimate question and it produced accurate reporting. It also produced a blind spot, because a revenue share has two sides and only one of them was ever examined.

The side nobody covered is the one with the public company, the regulatory filings, the customer assets, and the board. Robinhood’s chain is now a material piece of its strategic story, its stock trades on the strength of that story, and the chain’s economics include a permanent obligation to an entity that no securities analyst covering the stock has any reason to have heard of. That gap between how crypto covers a deal and how equity markets would cover the same deal is where most of the useful analysis in this sector currently sits, and it is worth reading every ecosystem announcement with the question of who else is party to it. The same platform-ownership pattern is also visible in the same playbook in prediction markets, where distribution, licensing, and customer ownership intersect.

Frequently asked questions What is the Arbitrum Expansion Program? An arrangement under which any Layer 2 or Layer 3 chain built with Arbitrum’s Orbit technology stack, and settling outside Arbitrum One or Nova, routes 10% of its net protocol revenue back to the Arbitrum ecosystem. Of that, 8% goes to the Arbitrum DAO treasury controlled by ARB tokenholders, and 2% funds the Arbitrum Developer Guild.

How much has Robinhood Chain actually paid? Roughly $200,000, against more than $2 million in cumulative chain revenue since the July 1 launch, which confirms the 10% rate operating in practice. Arbitrum separately reported the network earning over $800,000 in a single seven-day period, annualizing near $42 million, though those figures are suppressed by an ongoing gas subsidy.

Is the 10% calculated on gross or net revenue? Net, after network operating costs, which ties the payment to a chain’s actual profitability rather than to transaction volume. The revenue base is sequencer profits, and if the chain adopts Arbitrum’s Timeboost mechanism for capturing value from transaction ordering, those revenues may fall under the arrangement as well.

Why did Robinhood not just build its own chain from scratch? Time, risk, and ecosystem. Building independently means owning all the revenue and also owning the security, auditing, and defence of a settlement layer holding customer-adjacent assets, with no existing tooling, bridges, or wallet support. Orbit delivered a branded, controlled chain with 100-millisecond block times and technical support from Offchain Labs, live within a week, at the cost of a tenth of net revenue.

Does the payment matter financially to Robinhood? Not currently. At present run rates the Arbitrum share is roughly $4 million a year against quarterly company revenue near $1.27 billion. The chain itself contributes a low single-digit share of annual revenue at best. The arrangement matters structurally rather than financially, because it defines what the chain is and who it depends on.

What is unusual about paying a DAO? The counterparty structure. The 8% flowing to the Arbitrum DAO treasury is controlled by token holders voting through governance, and those same holders influence the roadmap of the technology stack Robinhood’s chain runs on. A federally regulated public company holding a revenue-sharing obligation to, and infrastructure dependency on, a decentralized organization is a novel arrangement with unsettled disclosure and risk-management questions.

Does this give Robinhood any advantage over competitors? Not through the arrangement itself, which is available to anyone on identical terms. Any brokerage can build an Orbit chain and pay the same 10%. Robinhood’s advantages, if they hold, come from distribution and from operating the venue where its own products trade, and the tokenized-equity market is already attracting incumbent exchanges building comparable infrastructure.

What should investors watch? The first unsubsidized quarter after the gas subsidy expires around October, whether Timeboost is adopted and MEV revenue enters the sharing arrangement, how the chain’s economics and the Arbitrum obligation appear in regulatory filings, and any governance proposal to change the Expansion Program’s rates. This is educational analysis, not investment advice.

Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Revenue figures reflect third-party trackers and company statements available at the time of writing and are subject to revision, and chain activity is currently affected by a temporary fee subsidy. Nothing here is a recommendation to buy, sell, or hold any security or asset. Always do your own research. Information is accurate as of July 29, 2026.

Banc of California (BANC - Free Report) came out with quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.4 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -67.50%. A quarter ago, it was expected that this banking service and lending company would post earnings of $0.38 per share when it actually produced earnings of $0.39, delivering a surprise of +2.63%.

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

Banc of California, which belongs to the Zacks Banks - Southwest industry, posted revenues of $273.15 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 8.03%. This compares to year-ago revenues of $272.85 million. The company has topped consensus revenue estimates two times over the last four quarters.

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

Banc of California shares have added about 9.8% since the beginning of the year versus the S&P 500's gain of 8.5%.

What's Next for Banc of California?While Banc of California 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 Banc of California 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 $0.45 on $307.09 million in revenues for the coming quarter and $1.71 on $1.21 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southwest is currently in the top 18% 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 broader Zacks Finance sector, NexPoint Residential Trust Inc. (NXRT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 4.

This real estate investment trust is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of -23.8%. The consensus EPS estimate for the quarter has been revised 9.8% higher over the last 30 days to the current level.

NexPoint Residential Trust Inc.'s revenues are expected to be $63.91 million, up 1.2% from the year-ago quarter.

TD Securities’ Ryan McKay and Bart Melek note that Gold remains under pressure as markets price a hawkish Federal Reserve (Fed) path and renewed energy strength. They highlight that CTA (Commodity Trading Advisors) short covering only begins above $4,222/oz, with more substantial net long positioning closer to $4,300/oz. However, they expect multiple dissents and ongoing hike pricing to limit Gold’s ability to reach these CTA trigger levels.

Fed pricing restrains gold CTA flows"Precious metals have remained weak in the face of hawkish market pricing for the Fed, and renewed energy upside will continue to feed into this narrative."

"Gold markets are already well-priced for a hawkish Fed path, and while we are not expecting a hike today, the bar may be high to shift the underlying forward expectations for the yellow metal."

"CTAs need prices above $4,222/oz to catalyze only very minimal short covering, but beyond this level, pricing simulations highlight the potential for asymmetric upside with prices closer to $4,300/oz likely to see notable net long positions."

"However, we expect multiple dissents to a hold decision, and markets continuing to price for hikes in September and beyond, which would likely see any gold upside fall short of hitting those upside CTA scenario levels."

"War risk is back on, but we are not expecting any material CTA flows across the energy complex. Elsewhere, precious metals will be focused on the Fed, but the bar will be high to shift the underlying bearish forces in the gold market."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

Smurfit Westrock (SW - Free Report) came out with quarterly earnings of $0.35 per share, missing the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -16.67%. A quarter ago, it was expected that this paper and packaging company would post earnings of $0.36 per share when it actually produced earnings of $0.33, delivering a surprise of -8.33%.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

Smurfit Westrock, which belongs to the Zacks Paper and Related Products industry, posted revenues of $8.03 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.51%. This compares to year-ago revenues of $7.94 billion. The company has topped consensus revenue estimates two times over the last four quarters.

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

Smurfit Westrock shares have added about 31.4% since the beginning of the year versus the S&P 500's gain of 8.5%.

What's Next for Smurfit Westrock?While Smurfit Westrock 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 Smurfit Westrock 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 $0.78 on $8.31 billion in revenues for the coming quarter and $2.24 on $32.17 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, Paper and Related Products is currently in the bottom 14% 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, Suzano S.A. Sponsored ADR (SUZ - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 12.

This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of -91.6%. The consensus EPS estimate for the quarter has been revised 284.6% higher over the last 30 days to the current level.

Suzano S.A. Sponsored ADR's revenues are expected to be $2.32 billion, down 1.1% from the year-ago quarter.

Rare-earth elements are crucial for modern technologies, including electric vehicles, data centers, and advanced defense systems. Yet the supply chain is heavily concentrated in China, which controls 70% of global rare-earth extraction and 90% of rare-earth processing, according to research by The Motley Fool.

This reliance on a single country makes the U.S. vulnerable to supply chain disruptions, and policymakers are taking steps to boost domestic production of these critical minerals. Over the past year, several publicly traded companies have emerged to address this gap, including MP Materials (MP -1.94%), USA Rare Earth (USAR -0.23%), and TMC The Metals Company (TMC +0.55%).

These companies are leading the charge as the U.S. builds a vertically integrated "mine-to-magnet" supply chain, but each has a very different risk profile. If you're considering investing in rare-earth stocks, two of these are a buy, while one faces far more uncertainty. Here's what you need to know.

Image source: Getty Images.

The rare-earth supply push Rare-earth elements are crucial for emerging technologies, and magnet metals such as neodymium, praseodymium (NdPr), dysprosium, and terbium are key minerals used to manufacture high-powered permanent magnets. These magnets are used in electric vehicle motors, semiconductors, data center cooling systems, and military applications like fighter jets and missile guidance systems.

China has a stronghold on rare-earth elements and has used its position to tighten export controls as leverage in trade negotiations with the U.S. For this reason, the U.S. is taking drastic steps to boost its rare-earth industry, including launching a Strategic Critical Minerals Reserve, providing funding to help companies build out their mining and processing capabilities, and entering into historic partnerships that include investments in these rare-earth stocks.

These two rare-earth stocks are better buys right now When it comes to rare-earth stocks, MP Materials and USA Rare Earth look like more appealing investment options, while The Metals Company faces more regulatory risk with its deep-sea mining pursuits.

MP Materials has the most developed mining business, operating the only commercial-scale, active rare-earth mine in North America at Mountain Pass, California. The company has a first-mover advantage and was a clear choice when the U.S. government began investing in building out its domestic mine-to-magnet supply chain.

Last year, MP entered into a public-private partnership with the U.S. Department of Defense that included several unprecedented guarantees. The government established a 10-year price protection agreement (PPA) that guarantees a minimum price of $110 per kilogram for MP's neodymium-praseodymium (NdPr) product. This comes as the U.S. aims to protect MP from China's aggressive state-subsidized programs.

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As part of this, the DOD purchased $400 million in convertible preferred stock and warrants, which could represent up to 15% ownership in the rare-earth stock. In addition, the government has committed to purchasing 100% of the magnet production from MP's planned 10X facility, locking in an annual minimum earnings before interest, taxes, depreciation, and amortization (EBITDA) of $140 million.

USA Rare Earth is another company emerging as an attractive rare-earth stock thanks to government funding and huge acquisitions of established assets that diversify it away from Chinese supply chains. The company secured $1.6 billion in federal financing under the CHIPS and Science Act to boost its mine-to-magnet business, which will help pay for its $1.2 billion permanent magnet facility in South Carolina.

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Last year, USA Rare Earth acquired Less Common Metals (LCM), providing it with immediate metal-making capabilities and securing feedstock for its Oklahoma production plant. It also acquired the Serra Verde Group for $2.8 billion, giving it control of Brazil's Pela Ema mine, the only scaled producer outside Asia with all four critical magnetic rare-earth elements. This deal is expected to close in the third quarter.

TMC faces unique legal and regulatory risks TMC relies on developing commercial-scale deep-sea mining capabilities. But while the sea floor is rich in polymetallic nodules, mining the deep ocean floor has not been tested on a large scale. Not only that, but the company also faces scrutiny from environmentalists who are concerned that it could release toxins or stored carbon through sediment plumes, causing permanent damage to ocean biodiversity.

The company benefits from a Trump administration executive order designed to expedite permitting for deep-sea mining, but faces legal risk along the way. That's because the International Seabed Authority (ISA) has not yet finalized exploitation regulations, and there is heavy debate over whether the U.S. even has the authority to issue mining permits in these waters.

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On July 20, 2026, the Seabed Disputes Chamber of the International Tribunal for the Law of the Sea (ITLOS) issued unanimous provisional orders ordering the International Seabed Authority (ISA) to respect due process regarding TMC's subsidiaries. While this removes some regulatory uncertainty, TMC is still a highly risky stock until the ISA finishes the formal Exploitation Code and approves TMC's commercial extraction applications.

The bottom line on rare-earth stocks Rare-earth elements have come into focus in recent years, and for good reason. As the U.S. builds up its mining and processing capabilities and boosts mine-to-magnet production, MP Materials and USA Rare Earth stand ready to benefit. While TMC could benefit from this push as well, the company faces significantly more regulatory risks than the others do.

Investors should keep in mind that investing in any of these stocks carries risk, and sudden policy pivots or operational delays could trigger significant volatility. With that said, aggressive investors bullish on the rare-earth theme are better off buying MP Materials and USA Rare Earth, while avoiding (or selling) TMC until its regulatory and legal pathways become clearer.

Tim Cook's final earnings call as Apple CEO takes place the same week the iPhone maker touched a $5 trillion market cap and surpassed Nvidia as the world's most valuable company. But there's no time to celebrate.

Even with the stock trading at a record price and up 25% this year, topping its megacap peers, Apple is reckoning with a memory crunch and a rush for chip manufacturing capacity that's forcing the company to lift prices on devices. Meanwhile, Apple has still yet to launch a redesigned Siri to the public, the most glaring example of how far behind the company has fallen in artificial intelligence.

With Cook set to step down on Sept. 1, and assume the role of executive chairman, the emerging challenges will land in the lap of John Ternus, a 25-year Apple veteran and its head of hardware. Ternus said little on the prior earnings call in April, which came shortly after the CEO transition was announced.

Investors are likely to ask more of Ternus on Thursday, after the company reports fiscal third-quarter results. He'll become just the second CEO since Steve Jobs stepped down a few months before he died in 2011. Cook's 15-year run at the top has been highlighted by a fourteen-fold increase in the company's valuation despite its inability to launch a major hardware platform after the iPhone and its struggle to find a big market for its high-priced Vision Pro virtual reality headset released in 2024.

"Tim Cook, he's a really talented supply chain operations guy, and I think he's done just a remarkable job of navigating the environment," said Melissa Otto, head of Visible Alpha research at S&P Global, in an interview. "We'll get some visibility or some commentary at least around the current environment and how they're navigating it."

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Last month, Apple, citing the global memory shortage, raised starting iPad and Mac prices by at least $100, with some models increasing by more than $1,000. Analysts expect iPhone price hikes this year. In the meantime, Apple announced a program on Tuesday with Klarna, a provider of buy now, pay later loans, that will allow customers in the U.S. to lease an iPhone for up to two years at a price starting at $17.99 per month.

The price increases of up to 20% on some devices were announced just before the end of the quarter, so their impact won't be felt until the current period. For the quarter ended in June, analysts expect to see a total revenue increase of about 16%, with that growth number slipping to 12% in the current period.

More important to investors is what higher prices will do to demand in the December quarter, Apple's biggest of the year.

'Fundamentals are very strong'Counterpoint Research sees total smartphone shipments falling nearly 14% this year, the steepest decline since 2013. The part of the market at greatest risk is the lower end, where manufacturers have less room to pass on skyrocketing memory costs. That largely means Android phones.

Apple could signal "market share gains given pricing increases at competitors," wrote Goldman Sachs analysts, who have a buy rating on the stock, in a note this week.

Apple has yet to raise prices or change iPhone forecasts even after its June warning, though some analysts are altering their models. The hikes could actually boost earnings, some analysts say, due to the company's renowned brand.

"We continue to believe that Apple fundamentals are very strong, with myriad price hikes likely to drive upside to revenue and EPS over the next 6-18 months," analysts at Morgan Stanley wrote in a note last week. The firm recommends buying the stock, but they slashed their Mac forecast for the September quarter by 8% because of supply challenges.

The memory shortage is the biggest near-term challenge facing Apple, but the more significant risk to its business over the longer term likely has to do with its AI strategy.

Instead of spending heavily on AI infrastructure to build or serve advanced models, Apple is licensing much of its AI technology from Google as well as using its cloud. While the hyperscalers are all shelling out well over $100 billion in capital expenditures this year, and some are likely to exceed $200 billion, analysts expect Apple to spend just more than $11 billion, with $3.4 billion coming in the latest quarter, according to FactSet.

"While Apple was initially bruised by many investors for not joining the LLM investment cycle, investors are coming around to Apple's industry-leading" free cash flow, analysts at Baird wrote this month. They recommend buying the stock.

Before Google, Apple's main AI partner was OpenAI, whose ChatGPT was integrated into Siri and other parts of the operating system. That partnership has nearly fallen apart, and Apple sued OpenAI on July 10, alleging trade secret theft. OpenAI denied the claim.

Apple needs its redesigned Siri, which was released in beta in June and is expected to launch this fall alongside new iPhones, to catch on with the public. It then needs to follow that release up with more AI features to keep pace in an industry that's moving at warp speed.

With Ternus taking over, the company may be gearing up for more aggressive AI investing. Under Cook, the company threw off so much cash that it bought back more than $1 trillion in stock during his tenure.

In its last earnings report, Apple made a slight change to its stated policy of how it handles cash. Rather than sticking to a goal it's had since 2018 of being "net cash neutral," or getting its cash on hand equal to total debt, Apple said it will assess its cash and debt independently, which could free up funds for AI.

"We invest in the business first and foremost and then look to kind of return excess cash to shareholders," Apple CFO Kevan Parekh said on the April call.

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By PYMNTS  |  July 29, 2026

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Google DeepMind has reportedly disbanded the team behind its Nobel Prize-winning Alpha Fold AI system.

That’s according to a report Wednesday (July 29) from the Financial Times (FT), which frames the move as Google overhauling a research strategy that made DeepMind one of the top AI laboratories.

Most of the original authors of the AlphaFold papers have been reassigned in the last year, the report said, citing an FT analysis of recent job moves and sources familiar with the matter.

The company confirmed that the employees have moved to projects dealing with Google’s Gemini large language model, plus areas like enzyme design, nuclear fusion and genomics, the FT added.

Others have moved to Google’s Isomorphic Labs. Almost a quarter of the full-time Google DeepMind authors of the original AlphaFold papers have simply left the company. The FT says this marks a major shift in DeepMind’s scientific strategy following the advent of artificial intelligence (AI) large language models.

“Our strategy over the last nine years has been to focus on grand challenges … a concrete goal every project is focused on,” said Pushmeet Kohli, vice-president of research at Google DeepMind, and founder/head of the AI for Science team. “The strategy has evolved.”

Rather than focusing on single scientific problems, Kohli told the FT, DeepMind is now also concentrating on developing Gemini-powered systems that can help scientists — and someday automate parts of the scientific process — while competing with companies like OpenAI and Anthropic to build frontier AI agents.

The news comes weeks after John Jumper, one of the Nobel Prize-winning scientists behind Alpha Fold, announced he was leaving the company to join Anthropic.

In other Google AI news, PYMNTS wrote this week about new research at the company showing that workers in predominantly physical and manual roles, such as auto technicians and industrial mechanics, are using conversational AI for real-time diagnostics, troubleshooting and on-the-job learning.

The company’s research also found that workplace AI now touches 68% of jobs, representing 90% of employment in the U.S. However, within any single job, employees use it for about 21% of their tasks on average.

“Blue-collar workers tend to be using a lot of what we call multimodal AI, which is AI with images and video,” Scott Strand, head of strategic operations and special projects for technology and society at Google, told Axios last week.