Track market-moving stories before they get noisy

Berkshire Hathaway just clawed back to a record high, but the force driving it there has little to do with Warren Buffett's legacy and everything to do with a rotation that could reverse just as fast as it arrived.

Berkshire Hathaway (NYSE:BRK-B | BRK-B Price Prediction) Class B shares closed at a record $539.82 on Tuesday, October 20, 2026, after a 1.43% gain. The old high was the $539.80 close on May 2, 2025, set the Friday before Warren Buffett told shareholders he would hand over the CEO job, so the new record beat it by just two cents.

Getting back there took 17 months. Over that time, the S&P 500 gained more than 35% while Berkshire stayed below its old high.

On October 21, both share classes set intraday records, with Class B reaching $543.34. Class B then closed at the day’s low of $538.99, down 0.15%, which left it slightly below the October 20 record close.

Berkshire’s market value at that close was about $1.16 trillion. Most of the push to the record came from investors pulling money out of AI stocks, and that rotation will likely determine how long the record holds.

Money Leaving AI Stocks Landed in Berkshire The S&P 500 set a record on October 6 and has slipped since then, while Berkshire gained about 7%. From October 6 through October 20, the iShares Semiconductor ETF (NASDAQ:SOXX) fell in 10 of 11 sessions and lost 15.17%, while Berkshire rose in nine.

That run included a 10-day winning streak, Berkshire’s first since 2018. Investors pulling out of crowded chip trades looked for profits that hold up whether AI spending does, and Berkshire offers that through its insurance, BNSF railroad, utility and consumer businesses, plus a large cash cushion.

Abel Is Putting the Cash to Work In the second quarter, Berkshire bought back $4.5 billion of its own stock and put $23.5 billion into other stocks, including $10 billion in Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOGL). That ended 14 straight quarters of net stock selling, and cash fell to $364.7 billion from a record $380.2 billion.

Buybacks matter because they show management thinks the shares trade below intrinsic value, meaning the company’s underlying worth. Operating profit rose 16% to $12.98 billion, a quarter KBW analyst Meyer Shields called “very solid.”

Buffett already did the stock-picking work for a lifetime, and the cheapest dividend payers still sitting inside Berkshire’s own book are worth a look (we ranked the seven cheapest in a free guide here: 7 Warren Buffett Stocks to Buy Now).

Succession Doubts Are Fading On September 18, 2026, Buffett, then 96, stepped down as chairman and became chairman emeritus. His son Howard Buffett, a board member since 1993, became non-executive chairman; Buffett stayed on as a director, and he wrote that “Howard will guard its culture and values.”

The stock hit its low about two weeks after the chairman change was announced. Investors wanted proof that Berkshire runs well without Buffett at the top, and rising profits plus buybacks under Abel, CEO since the start of 2026, gave them that proof.

What Could Stall the Rally If AI stocks bounce back, the money that moved into Berkshire could move right back out. The chip ETF rose 2.07% on October 21, the same day Berkshire slipped from its intraday high.

Traders are treating $540 as the key technical level heading into earnings, and Berkshire closed just under it. The upcoming third-quarter report will show whether operating earnings can match the $13.48 billion from the same quarter a year earlier. A record price also gives you less margin of safety than the stock offered while it fell behind.

Should You Buy or Sell BRK-B Stock At a P/E of 11x and a price-to-book of 1.06, Berkshire is modestly priced for a company with rising operating profit and a CEO buying back its shares. Index funds still lean hard on the same AI trade that is now reversing, so they carry more exposure if chip stocks keep falling. Berkshire’s mix of businesses has less direct exposure to that trade.

This view holds if Class B closes above $540 after the third-quarter report and operating earnings come in at or above $13.48 billion. If earnings fall short and the chip ETF wins back its October losses, the rotation is reversing, and the record likely won’t last.

Contact [email protected] for any questions or corrections.

United Bankshares (UBSI - Free Report) came out with quarterly earnings of $0.94 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.92 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this holding company for United Bank would post earnings of $0.89 per share when it actually produced earnings of $0.95, delivering a surprise of +6.74%.

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

United Bankshares, which belongs to the Zacks Banks - Southeast industry, posted revenues of $325.81 million for the quarter ended September 2026, missing the Zacks Consensus Estimate by 0.61%. This compares to year-ago revenues of $324.1 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.

United Bankshares shares have added about 22.9% since the beginning of the year versus the S&P 500's gain of 13.3%.

What's Next for United Bankshares?While United Bankshares 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 United Bankshares 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 $0.96 on $331.71 million in revenues for the coming quarter and $3.72 on $1.3 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 - Southeast is currently in the top 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.

Another stock from the same industry, First Citizens BancShares (FCNCA - Free Report) , has yet to report results for the quarter ended September 2026. The results are expected to be released on October 23.

This bank is expected to post quarterly earnings of $46.61 per share in its upcoming report, which represents a year-over-year change of +4.5%. The consensus EPS estimate for the quarter has been revised 2.1% higher over the last 30 days to the current level.

First Citizens BancShares' revenues are expected to be $2.23 billion, down 0.9% from the year-ago quarter.

In its upcoming report, Commvault Systems (CVLT - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.25 per share, reflecting an increase of 37.4% compared to the same period last year. Revenues are forecasted to be $310.8 million, representing a year-over-year increase of 12.5%.

The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

With that in mind, let's delve into the average projections of some Commvault metrics that are commonly tracked and projected by analysts on Wall Street.

Analysts predict that the 'Revenues- Subscription' will reach $263.16 million. The estimate suggests a change of +52.4% year over year.

The combined assessment of analysts suggests that 'Revenues- Perpetual license' will likely reach $8.78 million. The estimate indicates a change of -27.3% from the prior-year quarter.

The consensus estimate for 'Revenues- Other services' stands at $11.02 million. The estimate suggests a change of -1.8% year over year.

View all Key Company Metrics for Commvault here>>>

Shares of Commvault have experienced a change of +9.5% in the past month compared to an unchanged Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), CVLT is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

CHICAGO, Oct. 22, 2026 (GLOBE NEWSWIRE) -- New findings from TransUnion’s (NYSE: TRU) latest global Top Fraud Trends Report show that fraudsters are increasingly exploiting the trust associated with legitimate identities and brands rather than creating fake ones. As the threat evolves, organizations face growing financial consequences, with business leaders estimating fraud losses equivalent to nearly 7% of annual revenue in the past year. Meanwhile, advances in AI and automation are helping criminals open fraudulent accounts, infiltrate existing ones and undermine customer relationships at greater scale.

TransUnion’s report, Fraud in the Age of Continuous Trust, found that 81% of suspected digital fraud globally in H1 2026 occurred during interactions with existing customers, as fraudsters exploit trusted relationships and established accounts.

"As fraudsters increasingly exploit trusted relationships beyond onboarding, organizations need to move to a more connected understanding of trust," said Brian Killeen, vice president of global identity solutions at TransUnion." Harnessing intelligence across the customer lifecycle and applying context to each interaction is critical to identifying emerging threats and enabling trusted interactions."

Additional findings from the report indicate trust is being manipulated at scale through existing communication channels. Nearly one in five outbound business-to-consumer calls with U.S. mobile carriers was spoofed in the first half of 2026, demonstrating how fraudsters can exploit phone network vulnerabilities to impersonate trusted organizations and enable account takeover and payment fraud. Similarly, six in 10 business leaders indicated their customers were victimized by text spoofing in the last year, further illustrating the widespread exploitation of trusted communication channels.

Together, these findings demonstrate how fraudsters increasingly operate outside the enterprise, using communication channels such as phone calls and text messages to manipulate consumers directly on their devices. These scams are often designed to convince victims to open new accounts or grant access to existing ones, fueling a growing wave of scam and authorized fraud, with 35% of U.S. business leaders identifying it as the
leading source of fraud losses.

Scam/Authorized Fraud Was Cited as the Leading Source of Fraud Losses in the U.S. and Worldwide
Business leaders citing these fraud types as their organization’s largest source of losses in the past year

 Account
Takeover FraudFirst-Party FraudScam/Authorized
FraudSynthetic
Identity FraudThird-Party
FraudU.S.16%18%35%18%9%Global17%15%29%18%17% Source: TransUnion business fraud survey, June 2026

The study also examined where fraud occurs across the customer lifecycle and how risks differ by industry. Key findings include:

Retail: Account creation risk is especially high due to promotion abuse, as customers often need accounts to access discounts. At the same time, retailers typically use lower-friction identity verification to remain competitive.
Financial Services: While account creation presents immediate risk of fraud, transaction related activities pose even greater risk. This underscores the importance of connecting identity, behavioral and transactional intelligence to identify emerging threats throughout the customer relationship
Gaming (online gambling and betting): Fraud risk remains high throughout the customer lifecycle. While strong identity verification helps reduce some threats, fraudsters still target new accounts for bonus abuse, with additional risks emerging during account logins and transactions.
“Fraud risk is shaped by context. Across industries, these findings show how threats evolve throughout the customer journey, revealing where organizations are most exposed and why effective fraud prevention must adapt to the specific interaction and threat,” said Clint Lowry, vice president of global fraud strategy at TransUnion.

AI is Accelerating Fraud, Demanding Faster, More Adaptive Defenses

The report also shows that fraud is becoming more adaptive and harder to contain. AI has fundamentally changed the economics of fraud by automating activities that once required significant human effort, including creating identities, generating content and targeting victims. This allows fraudsters to accelerate and scale their attacks faster than organizations can adapt their detection capabilities and mitigation strategies.

Forty three percent of U.S. business leaders said the growing scale and sophistication of fraud is placing significant or severe pressure on their organizations. Synthetic identity fraud is a key concern, with 67% expecting it to increase over the next two years and 53% citing it as the threat they are least prepared to address.

In the U.S., 51% of business leaders reported increased scam and authorized fraud activity over the past year. U.S. lenders face an estimated $2.4 billion in exposure tied to synthetic identities as of June 30, 2026.

Killeen added, “AI is accelerating the pace at which fraudsters develop, scale and adapt their attacks. To keep pace, organizations must shorten the time between detecting emerging threats, learning from them and adapting their defenses, turning intelligence into action before vulnerabilities can be exploited.”

To learn more about the findings in Fraud in the Age of Continuous Trust, click here.

To learn more about how TransUnion Fraud Solutions help organizations identify emerging fraud earlier, strengthen digital trust and protect customer relationships while maintaining friction-right experiences, click here.

About TransUnion (NYSE: TRU)

TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments, we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

http://www.transunion.com/business

Railroad achieves record quarterly revenues and strong earnings growth

, /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced Thursday its third quarter 2026 financial results. For the quarter, revenue was $3.5 billion, income from railway operations was $1.2 billion, operating ratio was 67.4%, and diluted earnings per share were $3.37. 

Adjusting the results to exclude merger-related expenses and the effects of the Eastern Ohio incident, third quarter income from railway operations was $1.2 billion, the operating ratio was 65.4%, and diluted earnings per share were $3.62.

"Norfolk Southern delivered another quarter of solid execution, with record revenues, and strong earnings growth aided by continued productivity gains across the network, reflecting continued momentum in our business and the dedication of our team," said Mark George, Norfolk Southern President and Chief Executive Officer. "Throughout the quarter, we remained focused on safely serving customers, improving operational performance, while maintaining disciplined cost control despite rising fuel costs. Demand for rail service increased during the quarter, as a tighter trucking market highlighted rail's competitive advantages and underscored the opportunity for a more efficient, capacity-enhanced freight network. We remain focused on investing in a stronger, more resilient rail network that can support growth we see on the horizon."

Third Quarter Summary 

Railway operating revenues of $3.5 billion were a quarterly record, up $423 million, or 14% compared to the third quarter 2025, on a volume increase of 3% year-over-year, and higher fuel surcharges representing eight points of the revenue growth. 

Income from railway operations was $1.2 billion, an increase of $52 million, or 5%, compared to third quarter 2025. 

Adjusting for the effects of merger-related expenses and the Eastern Ohio incident in both years and restructuring and other charges in 2025, adjusted income from railway operations was $1.2 billion, an increase of $82 million, or 7%, compared to adjusted third quarter 2025.

Operating ratio in the quarter was 67.4% compared to 64.6% in third quarter 2025.

Adjusting for the effects of merger-related expenses and the Eastern Ohio incident in both years and restructuring and other charges in 2025, the adjusted operating ratio for third quarter 2026 was 65.4%, 210 basis points higher than adjusted third quarter 2025. 

Diluted earnings per share were $3.37, up $0.21, or 7%, compared to third quarter 2025.

Adjusting for the effects of merger-related expenses and the Eastern Ohio incident in both years and restructuring and other charges in 2025, adjusted diluted earnings per share were $3.62, up $0.32, or 10%, compared to adjusted third quarter 2025.

About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.

Cautionary Statement on Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or our achievements or those of our industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements may be identified by the use of words like "may," "will," "could," "would," "should," "expect," "anticipate," "believe," "project," or other comparable terminology. While the Company has based these forward-looking statements on those expectations, assumptions, estimates, beliefs, and projections it views as reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, including but not limited to: (i) changes in domestic or international economic, political or business conditions, including those impacting the transportation industry; (ii) the Company's ability to successfully implement its operational, productivity, and strategic initiatives; (iii) a significant adverse event on our network, including but not limited to a mainline accident, discharge of hazardous material, or climate-related or other network outage; (iv) the outcome of claims, litigation, governmental proceedings, and investigations involving the Company, including those with respect to the Eastern Ohio incident; (v) new or additional governmental regulation and/or operational changes resulting from or related to the Eastern Ohio incident; (vi) a significant cybersecurity incident or other disruption to our technology infrastructure; and (vii) those pertaining to the Merger. These and other important factors, including those discussed under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 9, 2026, may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Non-GAAP Financial Measures

Information included within this press release contains non-GAAP financial measures, including adjusted income from railway operations, adjusted operating ratio, and adjusted diluted earnings per share. Non-GAAP financial measures should be considered in addition to, not as a substitute for, the financial measures reported in accordance with U.S. generally accepted accounting principles (GAAP). 

Our non-GAAP financial results for the third quarters of 2026 and 2025 exclude merger-related expenses and the effects from the Eastern Ohio Incident (the Incident).  Our non-GAAP financial results for the third quarter of 2025 also exclude restructuring and other charges.  The following tables adjust our GAAP financial results for the third quarters of 2026 and 2025 to exclude the effects of those items. The income tax effects of the non-GAAP adjustments were calculated based on the applicable tax rates to which the non-GAAP adjustments related.  We use these non-GAAP financial measures internally and believe this information provides useful supplemental information to investors to facilitate making period-to-period comparisons by excluding these costs. While we believe that these non-GAAP financial measures are useful in evaluating our business, this information should be considered as supplemental in nature and is not meant to be considered in isolation from, or as a substitute for, the related financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similar measures presented by other companies.  Information about the adjustments that are not currently available to us could have a potentially unpredictable and significant impact on future GAAP results.  Further information about the Company's non-GAAP measures are available on our website at www.norfolksouthern.com on the Investors page under Events and Presentations.  

($ in millions, except per share amounts)

Third

Quarter 2026

Income from railway operations

$

1,150

     Merger-related expenses and effects of 
     the Incident

70

Adjusted income from railway operations

$

1,220

Operating ratio

67.4 %

     Merger-related expenses and effects of 
     the Incident

(2.0 %)

Adjusted operating ratio

65.4 %

Diluted earnings per share

$

3.37

      Merger-related expenses and effects of 
      the Incident

0.25

Adjusted diluted earnings per share

$

3.62

($ in millions, except per share amounts)

Third

Quarter 2025

Income from railway operations

$

1,098

     Merger-related expenses, restructuring
     and other charges, and effects of the
     Incident

40

Adjusted income from railway operations

$

1,138

Operating ratio

64.6 %

     Merger-related expenses, restructuring
     and other charges, and effects of the
     Incident

(1.3 %)

Adjusted operating ratio

63.3 %

Diluted earnings per share

$

3.16

     Merger-related expenses, restructuring
     and other charges, and effects of the
     Incident

0.14

Adjusted diluted earnings per share

$

3.30

SOURCE Norfolk Southern Corporation

Delivered Record First Quarter Operating Income, Up 28 Percent Year-Over-Year
Strong Results Reflect Productivity Improvements, Mix Optimization and Benefits from Pricing Actions
Realized Adjusted Operating Margin in Specialty Alloys Operations Segment of 37.7 Percent
Demand Accelerating in Commercial Aerospace Supply Chain, Resulting in Increased Bookings

PHILADELPHIA, Oct. 22, 2026 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) (the “Company”) today announced financial results for the fiscal first quarter ended September 30, 2026. For the quarter, the Company reported operating income of $196.4 million and earnings per diluted share of $3.25.

First Quarter Fiscal Year 2027 Highlights

Delivered $196.4 million of operating income, up 28 percent year-over-year and down 5 percent sequentiallySequential performance reflects productivity improvements, mix management and benefits from pricing actions, offset by planned downtime for preventive maintenance activitiesGenerated Specialty Alloys Operations (“SAO”) segment operating income of $216.3 million, up 27 percent year-over-year and down 6 percent sequentiallyDelivered adjusted operating margin of 37.7 percent in the SAO segment, up from 32.0 percent in the prior year first quarter and in line with 37.8 percent in the fourth quarter of fiscal year 2026Strong bookings for Commercial Aerospace, led by aerospace structural and distribution sub-markets which saw bookings increase 23 percent sequentially and 49 percent year-over-yearExecuted $133.9 million in share repurchases against repurchase programs; announced additional $1.0 billion share repurchase program in August 2026Realized earnings per diluted share of $3.25 in the quarterGenerated $52.8 million of cash from operating activities Outlook

For the second quarter of fiscal year 2027, anticipate between $192 million to $197 million in operating incomeMaintain fiscal year 2027 operating income outlook in the range of $850 million to $880 million, representing a 21 percent to 25 percent increase over fiscal year 2026 operating incomeWell positioned for continued growth beyond fiscal year 2027 with strong market demand for our broad portfolio of specialized solutions, ongoing productivity improvements, product mix optimization, and realization of pricing actions
“Carpenter Technology delivered another strong quarter, generating $196.4 million of operating income in the first quarter of fiscal year 2027,” said Tony R. Thene, Chairman, President and CEO of Carpenter Technology. “This was the most profitable first quarter in the Company’s history, up 28 percent over the first quarter of fiscal year 2026, establishing a strong foundation for the rest of the fiscal year. The results, driven by productivity improvements, mix management and the benefits of pricing actions, were impressive for a quarter with increased preventive maintenance activities. Specifically, the SAO segment delivered $216.3 million of operating income and adjusted operating margin of 37.7 percent in the quarter, both significant increases over the previous year first quarter.”

“Notably, in the current quarter we saw a step up in demand, especially in the commercial aerospace supply chain. Customers in the aerospace structural and distribution sub-markets have increasing confidence in the industry’s ability to ramp and our engine customers are increasing activity to support new builds and elevated MRO activity. As a result, we saw increased sequential bookings across the commercial aerospace sub-markets, with the aerospace structural and distribution sub-markets leading the way. Further, in the strong demand environment, pricing continues to strengthen across our business.”

“We maintain our recently communicated fiscal year 2027 operating income outlook of $850 million to $880 million and our fiscal year 2029 operating income target of $1.2 billion to $1.3 billion which reflects the accelerating demand environment, continued benefits of pricing actions and the expected contribution from our brownfield capacity expansion project.”

“In addition, we are currently working on specific actions and projects to exceed our operating income targets for fiscal year 2027 and fiscal year 2029. With macro trends so strong and accelerating, we see additional upside to demand, pricing opportunity and productivity improvement that could drive our operating income even higher.”

“Altogether, we believe we have a compelling value creation story. We are delivering record results today with strong operating margins and levers to expand margins further, we see accelerating demand across our key end-use markets, and we continue to benefit from pricing actions. As a result, we have a clear path to significant earnings growth over the next several years, and we are positioned to create substantial long-term value for our shareholders.”

Financial Highlights

  Q1 Q4 Q1($ in millions, except per share amounts) FY2027 FY2026 FY2026Net sales $798.2  $851.0 $733.7 Net sales excluding surcharge (a) $634.8  $679.7 $603.1 Operating income $196.4  $206.9 $153.3 Net income $162.5  $162.4 $122.5 Earnings per diluted share $3.25  $3.23 $2.43 Net cash provided from operating activities $52.8  $240.1 $39.2 Free cash flow (a) $(24.8) $155.0 $(3.4)       (a) Non-GAAP financial measures explained in the attached tables
  Net sales for the first quarter of fiscal year 2027 were $798.2 million, compared with $733.7 million in the first quarter of fiscal year 2026, an increase of $64.5 million (or 9 percent). Net sales excluding surcharge were $634.8 million for the current quarter, an increase of $31.7 million (or 5 percent) from the same period a year ago.

Operating income for the first quarter of fiscal year 2027 was $196.4 million compared to operating income of $153.3 million in the prior year period. Earnings per diluted share for the first quarter of fiscal year 2027 was $3.25 compared to earnings of $2.43 per diluted share in the prior year first quarter.

Cash provided from operating activities in the first quarter of fiscal year 2027 was $52.8 million, compared to $39.2 million in the same quarter last year. Free cash flow in the first quarter of fiscal year 2027 was negative $24.8 million, compared to negative $3.4 million in the same quarter last year. The increase in operating cash flow in the first quarter of fiscal year 2027 reflects higher earnings partially offset by changes in working capital, primarily inventory, compared to the same quarter last year. The unfavorable change in free cash flow reflects increased capital expenditures compared to the prior year period, namely from the brownfield expansion. Capital expenditures were $77.7 million in the first quarter of fiscal year 2027 compared to $42.6 million in the same quarter last year.

During the quarter ended September 30, 2026, the Company purchased 241,924 shares of its common stock on the open market for an aggregate of $133.9 million. As of September 30, 2026, $985.0 million remains available for future purchases under the $1.0 billion share repurchase program authorized in August 2026.

Total liquidity, including cash and available revolver balance, was $658.6 million at the end of the first quarter of fiscal year 2027. This consisted of $159.5 million of cash and $499.1 million of available borrowings under the Company’s Credit Facility.

Conference Call and Webcast Presentation

Carpenter Technology will host a conference call and webcast presentation today, October 22, 2026, at 10:00 a.m. ET, to discuss the financial results of operations for the first quarter of fiscal year 2027. Please dial +1 (833) 461-5787 for access to the live conference call. Access to the live webcast will be available at Carpenter Technology’s website (https://www.carpentertechnology.com), and a replay will soon be made available at https://www.carpentertechnology.com. Presentation materials used during this conference call will be available for viewing and download at https://www.carpentertechnology.com.

Non-GAAP Financial Measures

This press release includes discussions of financial measures that have not been determined in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). A reconciliation of the non-GAAP financial measures to their most directly comparable financial measures prepared in accordance with GAAP, accompanied by reasons why the Company believes the non-GAAP measures are important, are included in the attached schedules.

About Carpenter Technology

Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy materials and process solutions for critical applications in the aerospace and defense, medical, energy, transportation, and industrial and consumer markets. Founded in 1889, Carpenter Technology has evolved to become a pioneer in premium specialty alloys including nickel, cobalt, and titanium and material process capabilities that solve our customers' current and future material challenges. More information about Carpenter Technology can be found at https://www.carpentertechnology.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among other things, statements regarding guidance, outlook, targets, objectives, future operating performance, cash generation, capital allocation, market conditions and strategic initiatives. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected, anticipated, expected or implied. The most significant of these uncertainties are described in Carpenter Technology's filings with the Securities and Exchange Commission, including its report on Form 10-K for the fiscal year ended June 30, 2026, and the exhibits attached to that filing. They include but are not limited to: (1) the cyclical nature of the specialty materials business and certain end-use markets, including aerospace, defense, medical, energy, transportation, industrial and consumer, or other influences on Carpenter Technology's business such as new competitors, the consolidation of competitors, customers, and suppliers or the transfer of manufacturing capacity from the United States to foreign countries; (2) the ability of Carpenter Technology to achieve cash generation, growth, earnings, profitability, operating income, cost savings and reductions, qualifications, productivity improvements or process changes; (3) the ability to recoup increases in the cost of energy, raw materials, freight or other factors; (4) domestic and foreign excess manufacturing capacity for certain metals; (5) fluctuations in currency exchange and interest rates; (6) the effect of government trade actions, including tariffs; (7) the valuation of the assets and liabilities in Carpenter Technology's pension trusts and the accounting for pension plans; (8) possible labor disputes or work stoppages; (9) the potential that our customers may substitute alternate materials or adopt different manufacturing practices that replace or limit the suitability of our products; (10) the ability to successfully acquire and integrate acquisitions; (11) the availability of credit facilities to Carpenter Technology, its customers or other members of the supply chain; (12) the ability to obtain energy or raw materials, especially from suppliers located in countries that may be subject to unstable political or economic conditions; (13) Carpenter Technology's manufacturing processes are dependent upon highly specialized equipment located primarily in facilities in Reading and Latrobe, Pennsylvania and Athens, Alabama for which there may be limited alternatives if there are significant equipment failures or a catastrophic event; (14) the ability to hire and retain a qualified workforce and key personnel, including members of the executive management team, management, metallurgists and other skilled personnel; (15) fluctuations in oil and gas prices and production; (16) the impact of potential cybersecurity incidents, ransomware attacks, malicious AI usage, operational technology disruptions, information technology failures, data security breaches and failures of third-party technology service providers; (17) the ability of suppliers, logistics providers and other supply-chain participants to meet obligations due to capacity constraints, transportation disruptions, energy shortages, geopolitical events, labor shortages or other factors; (18) the ability to meet increased demand, production targets or commitments; (19) the ability to manage the impacts of natural disasters, climate change, pandemics and outbreaks of contagious diseases and other adverse public health developments; (20) geopolitical, economic, regulatory and security risks relating to our global business, including international conflicts, military actions, diplomatic tensions, trade restrictions, sanctions, disruptions to transportation corridors and shipping routes and changes in U.S. and foreign trade, tax and regulatory requirements; (21) challenges affecting the commercial aviation industry or key participants; (22) the consequences of the announcement, maintenance or use of Carpenter Technology’s share repurchase program; and (23) the ability to successfully execute major capital projects and brownfield expansion initiatives, including achieving expected costs, schedules, capacity additions, productivity improvements and returns on investment. Any of these factors could have an adverse and/or fluctuating effect on Carpenter Technology's results of operations. The forward-looking statements in this document are intended to be subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date of this press release or as of the dates otherwise indicated in such forward-looking statements. Carpenter Technology undertakes no obligation to update or revise any forward-looking statements.

PRELIMINARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
(Unaudited)     Three Months Ended  September 30,   2026   2025 NET SALES $798.2  $733.7 Cost of sales  541.9   517.3 Gross profit  256.3   216.4      Selling, general and administrative expenses  59.9   63.1 Operating income  196.4   153.3      Interest expense, net  7.1   11.5 Other income, net  (3.1)  (3.0)     Income before income taxes  192.4   144.8 Income tax expense  29.9   22.3      NET INCOME $162.5  $122.5      EARNINGS PER COMMON SHARE:    Basic $3.26  $2.45 Diluted $3.25  $2.43      WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:    Basic  49.8   50.1 Diluted  50.0   50.4      Cash dividends per common share $0.20  $0.20       PRELIMINARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
(Unaudited)     Three Months Ended  September 30,   2026   2025 OPERATING ACTIVITIES    Net income $162.5  $122.5 Adjustments to reconcile net income to net cash provided from operating activities:    Depreciation and amortization  36.6   36.0 Deferred income taxes  11.6   5.8 Net pension expense  1.5   3.6 Share-based compensation expense  6.4   5.6 Net loss on disposals of property, plant and equipment  0.3   0.3 Changes in working capital and other:    Accounts receivable  (18.7)  (36.2)Inventories  (61.6)  15.6 Other current assets  (13.3)  7.7 Accounts payable  24.1   (27.0)Accrued liabilities  (88.5)  (85.9)Pension plan contributions  (8.6)  (5.9)Other postretirement plan contributions  (0.7)  (0.9)Other, net  1.2   (2.0)Net cash provided from operating activities  52.8   39.2 INVESTING ACTIVITIES    Purchases of property, plant, equipment and software  (77.7)  (42.6)Proceeds from disposals of property, plant and equipment  0.1   — Net cash used for investing activities  (77.6)  (42.6)FINANCING ACTIVITIES    Dividends paid  (9.9)  (10.1)Purchases of treasury stock  (133.9)  (49.1)Proceeds from stock options exercised  0.4   0.5 Withholding tax payments on share-based compensation awards  (65.2)  (45.5)Net cash used for financing activities  (208.6)  (104.2)Effect of exchange rate changes on cash and cash equivalents  (0.4)  0.1 DECREASE IN CASH AND CASH EQUIVALENTS  (233.8)  (107.5)Cash and cash equivalents at beginning of year  393.3   315.5 Cash and cash equivalents at end of period $159.5  $208.0       PRELIMINARY
CONSOLIDATED BALANCE SHEETS
(in millions)
(Unaudited)       September 30, June 30,   2026   2026 ASSETS    Current assets:    Cash and cash equivalents $159.5  $393.3 Accounts receivable, net  722.2   701.9 Inventories  884.4   822.9 Other current assets  76.0   63.1 Total current assets  1,842.1   1,981.2 Property, plant, equipment and software, net  1,538.0   1,487.9 Goodwill  227.3   227.3 Other intangibles, net  2.4   3.9 Deferred income taxes  5.5   5.5 Other assets  129.4   132.5 Total assets $3,744.7  $3,838.3      LIABILITIES    Current liabilities:    Accounts payable $345.3  $313.4 Accrued liabilities  122.2   206.6 Total current liabilities  467.5   520.0      Long-term debt  691.0   690.7 Accrued pension liabilities  82.4   89.6 Accrued postretirement benefits  21.7   22.2 Deferred income taxes  207.4   196.9 Other liabilities  91.9   91.3 Total liabilities  1,561.9   1,610.7      STOCKHOLDERS' EQUITY    Common stock  286.8   286.8 Capital in excess of par value  341.8   357.1 Reinvested earnings  2,352.3   2,199.7 Common stock in treasury, at cost  (772.5)  (595.6)Accumulated other comprehensive loss  (25.6)  (20.4)Total stockholders' equity  2,182.8   2,227.6 Total liabilities and stockholders' equity $3,744.7  $3,838.3       PRELIMINARY
SEGMENT FINANCIAL DATA
(in millions)
(Unaudited)     Three Months Ended  September 30,   2026   2025 Net sales:    Specialty Alloys Operations    Net sales excluding surcharge $573.5  $533.9 Surcharge  156.9   125.7 Specialty Alloys Operations net sales  730.4   659.6      Performance Engineered Products    Net sales excluding surcharge  83.0   87.2 Surcharge  8.1   6.4 Performance Engineered Products net sales  91.1   93.6      Intersegment    Net sales excluding surcharge  (21.7)  (18.0)Surcharge  (1.6)  (1.5)Intersegment net sales  (23.3)  (19.5)     Consolidated net sales $798.2  $733.7      Operating income (loss):    Specialty Alloys Operations $216.3  $170.7 Performance Engineered Products  7.3   9.4 Corporate  (26.1)  (26.6)Intersegment  (1.1)  (0.2)Consolidated operating income $196.4  $153.3       The Company has two reportable segments, Specialty Alloys Operations (“SAO”) and Performance Engineered Products (“PEP”).

The SAO segment is comprised of Carpenter's major premium alloy and stainless steel manufacturing operations. This includes operations performed at mills primarily in Reading and Latrobe, Pennsylvania and surrounding areas as well as South Carolina and Alabama.

The PEP segment is comprised of the Company’s differentiated operations. This segment includes the Dynamet titanium business, the Carpenter Additive business and the Latrobe and Mexico distribution businesses. The businesses in the PEP segment are managed with an entrepreneurial structure to promote flexibility and agility to quickly respond to market dynamics. It is our belief this model will ultimately drive overall revenue and profit growth.

Corporate costs are comprised of executive and director compensation, and other corporate facilities and administrative expenses not allocated to the segments. Also included are items that management considers not representative of ongoing operations and other specifically-identified income or expense items.

The service cost component of net pension expense, which represents the estimated cost of future pension liabilities earned associated with active employees, is included in the operating results of the business segments. The residual net pension expense is included in other income, net, and is comprised of the expected return on plan assets, interest costs on the projected benefit obligations of the plans, amortization of actuarial gains and losses and prior service costs.

PRELIMINARY
NON-GAAP FINANCIAL MEASURES
(in millions, except per share data)
(Unaudited)   ADJUSTED OPERATING MARGIN EXCLUDING SURCHARGE REVENUE
 Three Months Ended September 30,  2026   2025 Net sales $798.2  $733.7 Less: surcharge revenue  163.4   130.6 Net sales excluding surcharge revenue $634.8  $603.1      Operating income $196.4  $153.3      Operating margin  24.6%  20.9%     Adjusted operating margin excluding surcharge revenue  30.9%  25.4% ADJUSTED SEGMENT OPERATING MARGIN EXCLUDING SURCHARGE REVENUE
 Three Months Ended September 30,  2026   2025 Specialty Alloys Operations    Net sales $730.4  $659.6 Less: surcharge revenue  156.9   125.7 Net sales excluding surcharge revenue $573.5  $533.9      Operating income $216.3  $170.7      Operating margin  29.6%  25.9%     Adjusted operating margin excluding surcharge revenue  37.7%  32.0% ADJUSTED SEGMENT OPERATING MARGIN EXCLUDING SURCHARGE REVENUE
 Three Months Ended September 30,  2026   2025 Performance Engineered Products    Net sales $91.1  $93.6 Less: surcharge revenue  8.1   6.4 Net sales excluding surcharge revenue $83.0  $87.2      Operating income $7.3  $9.4      Operating margin  8.0%  10.0%     Adjusted operating margin excluding surcharge revenue  8.8%  10.8%          Management believes that removing the impact of raw material surcharge from operating margin provides a more consistent basis for comparing results of operations from period to period, thereby permitting management to evaluate performance and investors to make decisions based on the ongoing operations of the Company. Management uses its results excluding this amount to evaluate its operating performance and to discuss its business with investment institutions, the Company’s board of directors and others.

  Three Months Ended  September 30,FREE CASH FLOW  2026   2025 Net cash provided from operating activities $52.8  $39.2 Purchases of property, plant, equipment and software  (77.7)  (42.6)Proceeds from disposals of property, plant and equipment  0.1   — Free cash flow $(24.8) $(3.4)      Management believes that the presentation of free cash flow provides useful information to investors regarding our financial condition because it is a measure of cash generated which management evaluates for alternative uses. It is management's current intention to use excess cash to fund investments in capital equipment, acquisition opportunities and consistent dividend payments. Additionally, we will discretionarily use excess cash for a share repurchase program up to $1.0 billion of our outstanding common stock. Free cash flow is not a U.S. GAAP financial measure and should not be considered in isolation of, or as a substitute for, cash flows calculated in accordance with U.S. GAAP.

PRELIMINARY
SUPPLEMENTAL SCHEDULE
(in millions)
(Unaudited)     Three Months Ended  September 30,NET SALES BY END-USE MARKET 2026
 2025
End-Use Market Excluding Surcharge Revenue:    Aerospace and Defense $425.4 $388.3Medical  51.7  61.6Energy  32.9  42.5Transportation  19.8  17.9Industrial and Consumer  83.2  75.0Distribution  21.8  17.8Total net sales excluding surcharge revenue  634.8  603.1Surcharge revenue  163.4  130.6Total net sales $798.2 $733.7      Investor Inquiries: Media Inquiries:John Huyette Heather Beardsley+1 610-208-2061 +1 [email protected] [email protected]

Showing strong momentum in its Student Financial Software (SFS) solution, Flywire announced the milestone at its third-annual U.S. education conference, Flywire Fusion, which brought together 150+ attendees from leading U.S. institutions  | Source: Flywire Corporation

BOSTON, Oct. 22, 2026 (GLOBE NEWSWIRE) -- Flywire Corporation (NASDAQ: FLYW), a global payments enablement and software company, today announced a major milestone in higher education tuition management – more than 1 million payment plans have now been activated since inception by students at institutions using Flywire’s Student Financial Software (SFS).

Higher education institutions using SFS on average see a 50% increase in plan enrollment with default rates under 2% – helping to ensure predictable revenue streams for schools that rely on tuition to fund operations.

The milestone, announced at Flywire’s third-annual Fusion conference in Austin, Texas, was met with great fanfare by the 150+ attendees across 70 public, private and community institutions from across the U.S. The attendees rallied around the idea that the current environment requires a new approach to the tuition management experience. They are eager to modernize the student financial experience not only to best serve their students and families, but to operate at the pace and level of efficiency today’s student finance office demands.

“There is real value for students and the staff in modernizing the way we handle tuition processes,” said Penn State, who detailed their SFS implementation on stage. “Flywire has been a visionary partner for us in solving complex tuition-related payment flows, and we believe there will be strong ROI as we expand our partnership.”

Driving Retention and Financial Agility for Higher Education

Flywire SFS is becoming a tool that industries rely on amid tight institution budgets, shifting federal and state policy and regulations, and changing student needs. Recent performance metrics highlight the impact of Flywire SFS across client campuses:

1 million + payment plans activated: Reached a record milestone in payment plan adoption since inception, representing a 50% increase in payment plan enrollment across partner institutions.Single digit default rates: Less than 2% of students default on their payment plans, ensuring reliable revenue streams for colleges and universities while keeping students on track toward graduation.$93 million in savings on past-due collections: Proactive outreach and automated engagement tools helped institutions recover millions in outstanding tuition balances prior to collection agency escalation.20% fewer accounts sent to collections: Flexible financial pathways help reduce the need and cost of third-party collection agencies.229,000 at-risk students enrolled saved from collections. Flexible payment plans help thousands of students remain enrolled and continue pursuing higher ed degrees.$468 million in past-due tuition collected: Advanced receivables workflows enabled institutions to collect millions in past-due balances while maintaining compassionate student communication. "Surpassing 1 million payment plan enrollments is a testament to how higher education leaders are seeing student financial experiences as a driver of retention and revenue. By providing more flexible options and modernizing tuition payment operations, institutions are not only looking out for their students, but positioning themselves for long-term financial sustainability.” - Sharon Butler, Co-President of Global Education

Practical Solutions and Innovation on Display at Flywire Fusion Conference

In its third year, Flywire Fusion brings institution leaders together to collaborate and learn from experts and one another on the most pressing topics in higher education today, such as financial sustainability and revenue diversification, artificial intelligence, federal and state policy updates and much more.

Evidence of Flywire’s commitment to innovation in the higher education sector, Flywire engineers built SFS numerous enhancements live, in 24 hours, on-site, as voted on by institutions in the Flywire Hackathon. They were revealed on-stage by Flywire Chief Product Officer David King.

“Institutions don’t just buy software from Flywire. They get a true innovation partner. What our engineers built onsite in 24 hours reflects our overall approach to problem solving for our clients - we listen, we build quickly and we keep improving.” - David King, Co-President of Education and Chief Product Officer, Flywire.

Celebrating Client Innovation: Flywire Fusion Star Award Winners Demonstrate Strong ROI and Student Impact

At Flywire Fusion, the company also recognized outstanding achievements among its higher education client community and partner ecosystem, celebrating institutions that have set new standards for operational efficiency, cross-departmental collaboration, and student experience.

“Our institutional partners continue to redefine what seamless student financial engagement looks like,” said Allison MacLeod, Chief Commercial Officer at Flywire. “We are thrilled to honor this year's award winners for their commitment to excellence, innovation, and transforming the student payment experience.”

The 2026 Flywire Fusion Award winners include:

Award CategoryRecipient
Best NewcomerPenn State UniversityOptimization ExcellenceUC IrvineImplementation ExcellenceBlinn College DistrictBest Practice LeaderWorcester Polytechnic Institute (WPI)Innovative LeaderWesleyan University + Worcester Polytechnic Institute (WPI)Process ImprovementWestern Governors University (WGU)Student ExperienceBall State UniversityTrailblazerWentworth Institute of TechnologyCross-Campus FusionUniversity of Northern ColoradoPartner of the YearWorkdayShining StarUniversity of North Texas
Resources

Flywire Fusion took place October 19 - October 21 in Austin, Texas with Citi (NYSE: C), GradGuard as Platinum Sponsors, Discover Global Network and Workday as Gold sponsors and American Express, ConServe, and Todd, Bremer & Lawson, Inc. Silver Sponsors.To learn more about Flywire’s solutions for the U.S. higher education industry, visit here. About Flywire
Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.

Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.

Flywire supports more than 5,300* clients with diverse payment methods in more than 140 currencies across 240 countries and territories around the world. Flywire is headquartered in Boston, MA, USA with global offices. For more information, visit www.flywire.com. Follow Flywire on X (formerly known as Twitter), LinkedIn and Facebook.

*Not including Flywire’s Invoiced and Sertifi acquisitions

Media Contact

Sarah King

[email protected]

Investor Relations Contact

Masha Kahn

[email protected]

Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire's strategy, expectations and plans of its Education business, market growth and trends. Flywire intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire's forward-looking statements include, among others, the factors that are described in the “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” sections of Flywire's Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, which are on file with the Securities and Exchange Commission (SEC) and available on the SEC's website at https://www.sec.gov/. The information in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

CBRE Group (CBRE - Free Report) came out with quarterly earnings of $2.05 per share, beating the Zacks Consensus Estimate of $1.97 per share. This compares to earnings of $1.61 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.06%. A quarter ago, it was expected that this provider of real estate investment management services would post earnings of $1.47 per share when it actually produced earnings of $1.56, delivering a surprise of +6.12%.

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 $11.52 billion for the quarter ended September 2026, missing the Zacks Consensus Estimate by 2.16%. This compares to year-ago revenues of $10.26 billion. 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.

CBRE shares have lost about 16.3% since the beginning of the year versus the S&P 500's gain of 13.3%.

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 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 $2.72 on $13.41 billion in revenues for the coming quarter and $7.80 on $47.1 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 bottom 20% 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, WaterBridge (WBI - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on November 4.

This water infrastructure and pipeline company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of +550%. The consensus EPS estimate for the quarter has been revised 39.3% higher over the last 30 days to the current level.

WaterBridge's revenues are expected to be $235.17 million, up 90.8% from the year-ago quarter.

Should You Invest in CBRE Group, Inc. (CBRE)?

Before you invest in CBRE Group, Inc. (CBRE), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.

Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)

Strategic investment enhances manufacturing scale, operational flexibility, and customer support as semiconductor test requirements continue to advance  | Source: FormFactor, Inc.

LIVERMORE, Calif., Oct. 22, 2026 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM), a leading provider of semiconductor test and measurement technologies, today announced the opening of its Farmers Branch manufacturing facility, marking an important milestone in the company's strategy to expand manufacturing capacity, strengthen operational flexibility, and support growing demand for advanced semiconductor test technologies.

“The opening of our Farmers Branch facility marks an important milestone for FormFactor, expanding our capabilities and capacity to fuel our future growth,” said Missy Figueroa, Senior Vice President, Global Operations at FormFactor. “This investment expands our ability to serve customers worldwide with greater scale, flexibility, and speed, while strengthening our ability to manufacture enabling semiconductor test and measurement technology in the United States.”

As semiconductor devices become increasingly complex, test requirements to ensure performance, yield, and reliability continue to intensify. The rapid adoption of advanced packaging to enable high-performance compute silicon, including GPUs, custom ASICs, and high-bandwidth memory (HBM), is driving extraordinary demand for advanced semiconductor test solutions. The Farmers Branch investment enhances FormFactor's ability to support these trends by expanding production capacity for advanced probe card technologies and helping customers address rising test complexity as they develop next-generation semiconductor devices.

“As semiconductor innovation accelerates, advanced test technologies play an essential role in enabling device performance, yield, and production readiness,” said Mike Slessor, Chief Executive Officer of FormFactor. “The opening of our Farmers Branch facility reflects our commitment to investing in the capabilities and technology leadership needed to support our customers as they develop the next generation of semiconductor technologies.”

At the probe card level, increasing device complexity is placing greater demands on test performance and capability.

“Our focus is on advancing probe card technologies that deliver the best performance and scalability our customers need to address evolving test challenges and enable their next-generation high-performance compute roadmaps,” said Sudhakar Raman, Senior Vice President and General Manager of FormFactor's Probes Business Unit.

The facility is part of FormFactor's global manufacturing and operations network serving customers throughout Asia, Europe, and North America. The investment reflects the company's continued confidence in the long-term growth of the semiconductor industry and the increasing importance of advanced test and measurement technologies in enabling future innovation.

About FormFactor
FormFactor, Inc. (Nasdaq: FORM) is a leading provider of essential test and measurement technologies along the full IC life cycle – from characterization, modeling, reliability, and design debug, to qualification and production test. Semiconductor companies rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company’s website at www.formfactor.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws. These statements are based on management's current expectations and beliefs as of the date of this release and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results to differ materially from those described in the forward-looking statements.

These forward-looking statements include, but are not limited to, statements regarding customer demand, industry growth, manufacturing capacity, operational capabilities, advanced packaging trends, market opportunities, and the Company's plans, strategies, and objectives for future operations. Forward-looking statements may contain words such as "may," "might," "will," "expect," "plan," "anticipate," "forecast," "continue," and similar expressions and include the assumptions that underlie such statements.

The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in demand for the Company's products; customer-specific demand; market opportunities; anticipated industry trends; manufacturing and supply chain dynamics; labor availability; changes in macroeconomic conditions; export controls, tariffs, and other trade barriers; geopolitical developments; and other factors, including those set forth in the Company's most current Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission.

No assurances can be given that any of the events anticipated by the forward-looking statements within this press release will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of the Company. Unless required by law, the Company undertakes no obligation to update or revise any forward-looking statements.

Investor Contact
Stan Finkelstein
Investor Relations
(925) 290-4273
[email protected]

Here's a million-dollar question for you: Would you pay $200 to avoid an hour or so of traffic? To get to an airport, maybe, or to make an appointment that wouldn't be possible if you traveled by car?

Regardless of how you answered, Archer Aviation (ACHR -2.76%) believes there are enough people in the world answering that question in the affirmative to justify the capital and effort needed to bring air taxis to the market.

With Tesla recently demonstrating an actual flying car, the question of Archer's long-term potential is coming to the fore again. Could you still become wealthy from the nascent eVTOL (electric vertical takeoff and landing) industry? Could buying Archer Aviation stock today set you up for life?

I think so. In fact, I believe Archer could make some of its long-term shareholders very wealthy, even if its commercial passenger business never takes off. Here's what I mean.

Image source: Archer Aviation.

Beyond air taxis: How Archer is diversifying its business For starters, let me clarify something: When I say Archer Aviation could make investors wealthy without air taxi services -- that is, using an eVTOL to shuttle passengers around cities -- I don't mean to suggest that those commercial services lack enormous potential. They do. At the same time, Archer doesn't need to fly passengers to make money. Instead, it could sell the aircraft to air taxi service providers. This, I think, could combine with other opportunities to make Archer a strong business, regardless of whether it's actually taxing people in the sky.

The first of these opportunities stems from its recent acquisition of companies from Boeing (BA +0.95%). In a nutshell, Archer is planning to take three subsidiaries off Boeing's hands -- Wisk Aero, Insitu, and SkyGrid -- in exchange for a 19.75% equity stake. Each of these businesses brings something new to Archer: Wisk brings autonomous flight technology; Insitu brings an established, profitable military drone business; and SkyGrid brings software for managing air traffic.

What interests me here is that I think Archer could eventually make money in three areas: building and selling aircraft; selling autonomous flight technology; and managing airspace.

Another opportunity for Archer is in defense. Its partnership with Anduril is the clearest example of this: Both companies have developed an autonomous aircraft platform designed for military applications. If successful, Archer could tap into a lucrative market where demand is driven by national security and paid for by governments rather than dependent on consumers' willingness to pay for an air taxi.

$3.87-$0.11 (-2.76%)

NYSE · As of 4:00 PM ET 10/21/26

How buying Archer today could set you up for life My prediction is that within the next decade, Archer will become a major manufacturer of next-generation aircraft and autonomous aviation technology, with a business worth several times its current valuation. My argument here is that even without a commercial passenger air-taxi service, Archer looks poised for serious growth.

Implied, of course, is a further argument: With revenue from commercial passenger services, Archer's growth could be exponentially large.

Becoming that company will, of course, require patience, time, and probably some luck. But for investors who can hold a speculative stock for a decade or longer, I believe Archer could become one of those rare investments that could genuinely change one's future.

Largest ALTAIR io 6 contract to date underscores growing demand for connected worker safety technology

, /PRNewswire/ -- MSA Safety Inc., (NYSE: MSA), a global leader in advanced safety technology, today announced it is proud to partner with one of the largest utility providers in the northeast United States as the utility invests in connected technologies that support worker safety to better serve their communities.

The ALTAIR io 6 Multigas Detector will be the newest addition to the MSA Connected Work Platform. This six-gas detector is ideal for confined space monitoring and sampling applications, and it will be MSA’s first cellular-connected gas detector featuring an integrated pump. Additionally, it features MSA’s XCell® sensors; has a large, highly visible screen; a removable, rechargeable external battery; and is small enough for handheld use or to wear. The major U.S. energy utility selected the MSA Safety ALTAIR io™ 6 Multigas Detector to help enhance worker safety and operational efficiency. As part of the MSA+™ Connected Ecosystem, the ALTAIR io 6 Multigas Detector provides real-time visibility into worksite conditions, helping organizations streamline compliance, simplify reporting and improve workforce productivity.

The utility's five-year purchase agreement is valued of up to $10.6 million and is the largest ALTAIR io™ 6 Multigas Detector contract received to date, representing approximately $6.7 million in initial contract value. MSA expects to begin shipping the initial order in December 2026, with deployment of the devices scheduled to begin in January 2027.

"Connected technology is changing the way organizations approach safety by simplifying gas detector maintenance and real-time alerts," said Stephanie Sciullo, President of MSA Americas. "This multi-year partnership underscores the trust placed in MSA Safety's connected detection solutions and service, while helping customers protect their people and operate more efficiently."

The ALTAIR io 6 Multigas Detector is designed to help address the risks of combustible gas exposure, confined space, and lone-worker situations by combining advanced gas detection capabilities with real-time connectivity to enhance worker protection and operational visibility. The ALTAIR io 6 Gas Detector is MSA's first cellular-connected gas detector featuring an integrated pump, making this six-gas detector ideal for confined space monitoring and sampling applications commonly found across utilities, construction, manufacturing and oil and gas operations.

Features of the ALTAIR io 6 include:

Real-time cellular connectivity that helps keep workers connected and visible in the event of an emergency, An integrated sampling pump designed for pre-entry and confined space monitoring applications, MSA XCell® sensor technology for reliable gas detection performance, A large, highly visible display for improved readability in a variety of work environments, A removable, rechargeable external battery to support extended operational use, and A compact, ergonomic design suitable for handheld operation or wearable use. The detector also features MSA Grid, the company's cloud-based software platform that provides real-time information on device location, gas alarms and worker status. MSA Grid enables safety managers and supervisors to access live and historical data from individual devices or entire fleets, helping improve situational awareness and response times when incidents occur.

To learn more about MSA Safety's Connected Work solutions, click here.

About MSA Safety

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

SOURCE MSA Safety

, /PRNewswire/ -- NVR, Inc. (NYSE: NVR), one of the nation's largest homebuilding and mortgage banking companies, announced net income for its third quarter ended September 30, 2026 of $248.6 million, or $89.45 per diluted share.  For the third quarter ended September 30, 2026, net income and diluted earnings per share decreased 27% and 20%, respectively, when compared to 2025 third quarter net income of $342.7 million, or $112.33 per diluted share.  Consolidated revenues for the third quarter of 2026 totaled $2.40 billion, compared to $2.61 billion in the third quarter of 2025. 

For the nine months ended September 30, 2026, consolidated revenues were $6.61 billion, a 13% decrease from $7.61 billion reported for the same period of 2025. Net income for the nine months ended September 30, 2026 was $683.4 million, a decrease of 30% when compared to net income for the nine months ended September 30, 2025 of $976.0 million. Diluted earnings per share for the nine months ended September 30, 2026 was $240.54, a decrease of 24% from $315.33 per diluted share for the same period of 2025.

Homebuilding

New orders in the third quarter of 2026 decreased by 7% to 4,391 units, when compared to 4,735 units in the third quarter of 2025. The average sales price of new orders in the third quarter of 2026 was $442,100, a decrease of 5% when compared to the third quarter of 2025.  The cancellation rate in the third quarter of 2026 was 21% compared to 19% in the third quarter of 2025.  Settlements in the third quarter of 2026 decreased by 7% to 5,268 units, compared to 5,639 units in the third quarter of 2025. The average settlement price in the third quarter of 2026 was $445,900, a decrease of 2% when compared to the third quarter of 2025. Our backlog of homes sold but not settled as of September 30, 2026 increased on a unit basis by 10% to 10,121 units and increased on a dollar basis by 4% to $4.59 billion when compared to the respective backlog unit and dollar balances as of September 30, 2025.

Homebuilding revenues of $2.35 billion in the third quarter of 2026 decreased by 8% compared to homebuilding revenues of $2.56 billion in the third quarter of 2025. Gross profit margin in the third quarter of 2026 decreased to 18.3%, from 21.0% in the third quarter of 2025.  Gross profit margin was negatively impacted by higher lot costs, pricing pressure due to continued affordability challenges and weak consumer sentiment, and by contract land deposit impairments totaling approximately $24.8 million. Income before tax from the homebuilding segment totaled $299.7 million in the third quarter of 2026, a decrease of 27% when compared to the third quarter of 2025.

Mortgage Banking

Mortgage closed loan production in the third quarter of 2026 totaled $1.38 billion, a decrease of 10% when compared to the third quarter of 2025. Income before tax from the mortgage banking segment totaled $35.0 million in the third quarter of 2026, an increase of 7% when compared to $32.7 million in the third quarter of 2025.

About NVR

NVR, Inc. operates in two business segments:  homebuilding and mortgage banking.  The homebuilding segment sells and builds homes under the Ryan Homes, NVHomes and Heartland Homes trade names, and operates in thirty-seven metropolitan areas in sixteen states and Washington, D.C.  For more information about NVR, Inc. and its brands, see www.nvrinc.com, www.ryanhomes.com, www.nvhomes.com and www.heartlandluxuryhomes.com.

Some of the statements in this release made by the Company constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Certain, but not necessarily all, of such forward-looking statements can be identified by the use of forward-looking terminology, such as "believes," "expects," "may," "will," "should," "could," or "anticipates" or the negative thereof or other comparable terminology.  All statements other than of historical facts are forward-looking statements.  Forward-looking statements contained in this document may include those regarding market trends, NVR's financial position and financial results, business strategy, the outcome of pending litigation, investigations or similar contingencies, and projected plans and objectives of management for future operations.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance of NVR to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements.  Such risk factors include, but are not limited to the following: general economic and business conditions (on both a national and regional level); interest rate changes; access to suitable financing by NVR and NVR's customers; increased regulation in the mortgage banking industry; the ability of our mortgage banking subsidiary to sell loans it originates into the secondary market; competition; the availability and cost of land and other raw materials used by NVR in its homebuilding operations; shortages of labor; the economic impact of a major epidemic or pandemic; weather related slow-downs; building moratoriums; governmental regulation; fluctuation and volatility of stock and other financial markets; mortgage financing availability; and other factors over which NVR has little or no control.  NVR undertakes no obligation to update such forward-looking statements except as required by law.

NVR, Inc.

Consolidated Statements of Income

(in thousands, except per share data)

(unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Homebuilding:

Revenues

$      2,349,284

$      2,560,343

$      6,463,934

$      7,459,055

Other income

12,209

22,000

52,353

73,800

Cost of sales

(1,920,068)

(2,021,398)

(5,235,824)

(5,856,756)

Selling, general and administrative

(135,017)

(142,736)

(442,709)

(457,023)

Interest expense

(6,692)

(6,855)

(20,244)

(20,721)

Homebuilding income

299,716

411,354

817,510

1,198,355

Mortgage Banking:

Mortgage banking fees

53,146

49,162

145,915

152,296

Interest income

4,293

4,881

11,905

13,180

Other income

1,271

1,400

3,340

3,794

General and administrative

(23,470)

(22,397)

(72,750)

(73,515)

Interest expense

(268)

(327)

(897)

(900)

Mortgage banking income

34,972

32,719

87,513

94,855

Income before taxes

334,688

444,073

905,023

1,293,210

Income tax expense

(86,083)

(101,385)

(221,601)

(317,209)

Net income

$        248,605

$        342,688

$        683,422

$        976,001

Basic earnings per share

$           93.49

$          119.26

$          251.99

$          333.86

Diluted earnings per share

$           89.45

$          112.33

$          240.54

$          315.33

Basic weighted average shares outstanding

2,659

2,874

2,712

2,923

Diluted weighted average shares outstanding

2,779

3,051

2,841

3,095

NVR, Inc.

Consolidated Balance Sheets

(in thousands, except share and per share data)

(unaudited)

September 30, 2026

December 31, 2025

ASSETS

Homebuilding:

Cash and cash equivalents

$         1,091,315

$         1,883,844

Restricted cash

37,549

34,348

Receivables

54,560

32,742

Inventory:

Lots and housing units, covered under sales agreements with customers

1,941,337

1,410,695

Unsold lots and housing units

384,837

252,029

Land under development

21,792

39,312

Building materials and other

24,821

21,524

2,372,787

1,723,560

Contract land deposits, net

916,747

851,458

Property, plant and equipment, net

109,860

103,770

Operating lease right-of-use assets

120,701

110,535

Other assets

359,355

349,306

5,062,874

5,089,563

Mortgage Banking:

Cash and cash equivalents

34,071

32,642

Restricted cash

6,596

6,047

Mortgage loans held for sale, net

346,874

571,596

Property and equipment, net

7,256

7,727

Operating lease right-of-use assets

21,741

23,953

Other assets

86,538

125,402

503,076

767,367

Total assets

$         5,565,950

$         5,856,930

NVR, Inc.

Consolidated Balance Sheets (Continued)

(in thousands, except share and per share data)

(unaudited)

September 30, 2026

December 31, 2025

LIABILITIES AND SHAREHOLDERS' EQUITY

Homebuilding:

Accounts payable

$           365,207

$           259,244

Accrued expenses and other liabilities

306,013

376,976

Customer deposits

285,364

249,210

Operating lease liabilities

136,289

117,589

Senior notes

907,659

909,160

2,000,532

1,912,179

Mortgage Banking:

Accounts payable and other liabilities

106,690

53,738

Operating lease liabilities

23,735

26,144

130,425

79,882

Total liabilities

2,130,957

1,992,061

Commitments and contingencies

Shareholders' equity:

Common stock, $0.01 par value; 60,000,000 shares authorized; 20,555,330 shares
issued as of both September 30, 2026 and December 31, 2025

206

206

Additional paid-in capital

3,255,240

3,155,367

Deferred compensation trust – 106,697 shares of NVR, Inc. common stock as of
both September 30, 2026 and December 31, 2025

(16,710)

(16,710)

Deferred compensation liability

16,710

16,710

Retained earnings

17,070,191

16,386,769

Less treasury stock at cost – 17,911,054 and 17,755,943 shares as of September
30, 2026 and December 31, 2025, respectively

(16,890,644)

(15,677,473)

Total shareholders' equity

3,434,993

3,864,869

Total liabilities and shareholders' equity

$         5,565,950

$         5,856,930

NVR, Inc.

Operating Activity

(dollars in thousands)

(unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Units

Average
Price

Units

Average
Price

Units

Average
Price

Units

Average
Price

New orders, net of cancellations:

Mid Atlantic (1)

1,641

$     499.0

1,714

$     529.7

5,639

$     499.1

5,510

$     525.1

North East (2)

232

$     733.2

433

$     647.1

1,091

$     647.5

1,234

$     664.6

Mid East (3)

891

$     417.7

931

$     431.9

3,260

$     421.0

3,101

$     425.0

South East (4)

1,627

$     356.7

1,657

$     368.6

6,024

$     356.2

5,614

$     361.8

Total

4,391

$     442.1

4,735

$     464.8

16,014

$     439.6

15,459

$     456.8

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Units

Average
Price

Units

Average
Price

Units

Average
Price

Units

Average
Price

Settlements:

Mid Atlantic (1)

1,786

$     501.4

2,008

$     517.9

4,925

$     510.2

6,159

$     527.8

North East (2)

477

$     603.7

420

$     694.6

1,295

$     624.9

1,365

$     651.7

Mid East (3)

1,090

$     432.5

1,200

$     423.8

2,868

$     430.7

3,295

$     416.1

South East (4)

1,915

$     362.6

2,011

$     357.9

5,253

$     362.9

5,428

$     358.8

Total

5,268

$     445.9

5,639

$     454.0

14,341

$     450.7

16,247

$     459.1

As of September 30,

2026

2025

Units

Average Price

Units

Average Price

Backlog:

Mid Atlantic (1)

3,874

$     508.6

3,419

$     539.7

North East (2)

769

$     681.3

924

$     676.0

Mid East (3)

2,025

$     419.1

1,851

$     431.3

South East (4)

3,453

$     359.7

2,971

$     379.1

Total

10,121

$     453.0

9,165

$     479.5

NVR, Inc.

Operating Activity (Continued)

(dollars in thousands)

(unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Average active communities:

Mid Atlantic (1)

147

125

135

122

North East (2)

26

34

28

28

Mid East (3)

96

100

97

96

South East (4)

185

191

183

180

Total

454

450

443

426

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Homebuilding data:

New order cancellation rate

21.0 %

19.4 %

16.3 %

17.1 %

Lots controlled at end of period

185,300

175,300

Mortgage banking data:

Loan closings

$      1,381,742

$      1,539,781

$    3,789,439

$    4,527,982

Capture rate

85 %

86 %

85 %

86 %

Common stock information:

Shares outstanding at end of period

2,644,276

2,860,899

Number of shares repurchased

37,088

35,224

181,984

178,178

Aggregate cost of shares repurchased

$        237,218

$        276,405

$    1,226,951

$    1,331,212

(1)

Maryland, Virginia, West Virginia, Delaware and Washington, D.C.

(2)

New Jersey and Eastern Pennsylvania

(3)

New York, Ohio, Western Pennsylvania, Indiana and Illinois

(4)

North Carolina, South Carolina, Tennessee, Florida, Georgia and Kentucky

SOURCE NVR, INC.

Diversify Advisory Services LLC reduced its holdings in shares of Rubrik, Inc. (NYSE:RBRK – Free Report) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,716 shares of the company’s stock after selling 4,387 shares during the quarter. Diversify Advisory Services LLC’s holdings in Rubrik were worth $9,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. South Shore Capital Advisors increased its stake in shares of Rubrik by 9.1% during the 3rd quarter. South Shore Capital Advisors now owns 4,246 shares of the company’s stock worth $486,000 after purchasing an additional 355 shares in the last quarter. Family Wealth Partners LLC acquired a new position in shares of Rubrik during the 3rd quarter worth approximately $293,000. Kaufman Rossin Wealth LLC acquired a new position in shares of Rubrik during the 3rd quarter worth approximately $203,000. SteelPeak Wealth LLC acquired a new position in shares of Rubrik during the 3rd quarter worth approximately $391,000. Finally, Forum Financial Management LP purchased a new stake in Rubrik in the 3rd quarter valued at approximately $231,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Wall Street Analyst Weigh In A number of equities research analysts have commented on the company. Mizuho increased their target price on Rubrik from $90.00 to $112.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Yorkville Ives initiated coverage on Rubrik in a research report on Tuesday, October 6th. They set an “outperform” rating and a $145.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $120.00 price target on shares of Rubrik in a report on Friday, August 28th. Wolfe Research restated an “outperform” rating and issued a $120.00 price objective on shares of Rubrik in a research report on Friday, August 28th. Finally, Telsey Advisory Group set a $120.00 price objective on Rubrik in a research report on Friday, August 28th. Twenty-nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.56.

View Our Latest Research Report on RBRK Rubrik Price Performance Shares of NYSE RBRK opened at $120.71 on Thursday. The company has a market cap of $25.02 billion, a PE ratio of -95.80 and a beta of 1.12. Rubrik, Inc. has a 12 month low of $42.25 and a 12 month high of $127.90. The company has a 50-day simple moving average of $106.25 and a 200-day simple moving average of $82.54.

Rubrik (NYSE:RBRK – Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.16. The firm had revenue of $427.26 million during the quarter, compared to analyst estimates of $396.30 million. The business’s quarterly revenue was up 43.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. On average, analysts anticipate that Rubrik, Inc. will post -1.19 EPS for the current year.

Insider Activity In other Rubrik news, Director Yvonne Wassenaar sold 721 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $119.00, for a total transaction of $85,799.00. Following the transaction, the director owned 2,988 shares of the company’s stock, valued at $355,572. This represents a 19.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kiran Choudary sold 6,000 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $107.32, for a total value of $643,920.00. Following the transaction, the chief financial officer directly owned 958,078 shares in the company, valued at approximately $102,820,930.96. This represents a 0.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 139,583 shares of company stock valued at $13,515,814 over the last quarter. Insiders own 13.66% of the company’s stock.

Rubrik Company Profile (Free Report)

Rubrik, Inc is a cybersecurity and data-management company that provides organizations with tools to protect, manage and recover data across on-premises infrastructure, cloud environments and software-as-a-service applications. Its platform is designed to help businesses maintain data availability, strengthen cyber resilience and recover operations following events such as ransomware attacks, system failures or other disruptions.

The company’s Rubrik Security Cloud platform combines data backup, recovery, archival, monitoring and security capabilities.

Further Reading Five stocks we like better than Rubrik GM Beat and Added a $20 Billion Buyback—Why Did the Stock Fall? Intercepting Growth: Karman Secures $218M Lockheed Martin Deal Tech Stocks Took a Hit—These 2 Pharma Stocks Are Near New Highs Chip Stocks Have Pulled Back—Here’s How 3 Semiconductor ETFs Stack Up for Investors Want to see what other hedge funds are holding RBRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rubrik, Inc. (NYSE:RBRK – Free Report).

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Oklo has shed more than 60% of its value this year and sits near a 52-week low, yet its customer pipeline spans gigawatts and its regulatory path just cleared a major hurdle. Whether that combination makes it a bargain or…

The 24/7 Wall St. price target for Oklo (NYSE:OKLO | OKLO Price Prediction) is $38.43. That means 39.4% upside from the current price of $27.57. Our model rates the stock a buy with moderate confidence.

24/7 Wall St. Price Target Summary Metric Value Current Price $27.57 24/7 Wall St. Price Target $38.43 Upside/Downside 39.4% Recommendation BUY Confidence Level 55% Oklo has given up its AI-power premium, but the core thesis still holds. It has a 75 MW Aurora powerhouse design, a customer pipeline of about 14 GW, and a licensing path that picked up speed in 2026.

Shares trade just 2.8% above the 52-week low. We put confidence at 55% because Oklo still has no commercial revenue, so its value depends on reaching first power in late 2027 to early 2028.

A 61% Slide in 2026 Has Reset Expectations Oklo fell 14.41% over the past week and 27.45% over the past month. Year to date, it is down 61.58%, and it sits 82.1% below its 52-week high of $154.45.

Barclays and Piper Sandler both cut their price targets this week (per CNN Markets). Over the trailing 12 months, revenue was $1.21 million and diluted EPS was -$0.94. Regulators did give Oklo one clear win this year.

In May 2026, the NRC approved the Principal Design Criteria topical report for Aurora, completing its review in less than half the traditional timeline.

Why Bulls See a Path Back to $75 Demand is the main driver. The Department of Energy projects that data centers could account for up to 12% of U.S. electricity demand by 2028 (we mapped five ways to play the nuclear restart, utilities and fuel included, in a free report).

Oklo’s pipeline includes a 12 GW master agreement with Switch running through 2044 and a 500 MW letter of intent with Equinix (NASDAQ:EQIX), which comes with a $25 million prepayment. On the March 2025 call, management said fuel recycling could lower fuel costs by over 80%. Atomic Alchemy also gives Oklo a possible second revenue stream from radioisotopes.

Analyst ratings stand at 6 Strong Buys, 9 Buys, 9 Holds and 1 Strong Sell. The bull case uses the consensus target of $75.38, which would mean 173.4% upside.

What Could Keep Oklo Pinned Near Its Lows Management has said the Switch deal is not a firm power purchase agreement, and most of the other agreements are non-binding letters of intent. The NRC denied Oklo’s original Aurora application. Trailing EBITDA was -$216.8 million, so Oklo will likely need to raise more money, which could dilute shareholders.

Book value of $17.69, or 35.8% downside, anchors the bear case. In fairness, much of that spending pays for procurement, licensing and fuel recycling ahead of the first INL plant. Bulls would argue that investment is what makes future revenue possible.

How Oklo Compares to NuScale Power and Centrus Energy NuScale Power is Oklo’s closest direct SMR competitor and holds the industry’s only NRC design certification. NuScale trades near 2.0x book value, compared with 2.2x for Oklo. Oklo’s premium is modest, which supports our book-value anchor.

Centrus Energy (NYSE:LEU) supplies Oklo’s HALEU fuel and has explored a deconversion joint venture with Oklo. Centrus is already profitable. Its Q2 2026 revenue was $176.10 million, and adjusted EPS of $1.77 came in above the $0.92 estimate.

Even so, Centrus is worth less than Oklo, which suggests our target is reasonable and the consensus target is aggressive.

Company Market Cap Recent EPS Oklo $5.13 billion -$0.94 (TTM) NuScale Power $2.30 billion -$0.13 (Q2 2026) Centrus Energy $2.19 billion $1.77 (Q2 2026, adjusted) Our Verdict: A Speculative Buy Near the 52-Week Low The 24/7 Wall St. price target of $38.43 supports a buy rating at 55% confidence. The stock has already priced in a lot of disappointment while the regulatory picture has improved.

The case strengthens if Oklo turns its letters of intent into binding contracts and keeps its combined license review on schedule. The thesis weakens if the first-power date slips or a large dilutive raise comes. At these levels, our model finds the potential reward as outweighing the risk.

Looking further out, here is where the 24/7 Wall St. price target model projects Oklo could trade, assuming current growth trends and market conditions hold.

Year 24/7 Wall St. Price Target 2026 $30.33 2027 $38.43 2028 $51.88 2029 $64.85 2030 $77.82 Oklo’s results depend on the company continuing its current strategy. A licensing delay, fuel shortage or dilutive financing could push results well below these figures, while the Switch installations could drive meaningful upside.

Contact [email protected] for any questions or corrections.

Canoe Financial LP acquired a new stake in shares of GFL Environmental Inc. (NYSE:GFL – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 41,543 shares of the company’s stock, valued at approximately $1,681,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Bank of America Corp DE increased its position in shares of GFL Environmental by 43.8% in the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock worth $77,064,000 after purchasing an additional 563,001 shares during the last quarter. Verbena Value LP raised its position in shares of GFL Environmental by 44.7% during the 1st quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock valued at $50,527,000 after buying an additional 374,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of GFL Environmental by 68.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,158,643 shares of the company’s stock worth $48,309,000 after acquiring an additional 471,935 shares during the last quarter. QV Investors Inc. purchased a new position in GFL Environmental in the third quarter worth $44,887,000. Finally, Advent International L.P. grew its position in GFL Environmental by 117.1% in the first quarter. Advent International L.P. now owns 823,010 shares of the company’s stock worth $34,336,000 after acquiring an additional 443,918 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors.

GFL Environmental Stock Down 2.0% Shares of NYSE:GFL opened at $43.58 on Thursday. The stock’s 50-day moving average price is $42.28 and its 200-day moving average price is $39.78. GFL Environmental Inc. has a 12-month low of $33.33 and a 12-month high of $47.01. The stock has a market capitalization of $15.73 billion, a P/E ratio of 70.59, a price-to-earnings-growth ratio of 3.42 and a beta of 0.72. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34.

GFL Environmental (NYSE:GFL – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. On average, equities analysts anticipate that GFL Environmental Inc. will post 0.55 earnings per share for the current year. GFL Environmental Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be paid a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 14th. GFL Environmental’s payout ratio is -13.21%.

Wall Street Analyst Weigh In A number of equities research analysts have weighed in on the company. Citigroup set a $51.00 price target on GFL Environmental and gave the company a “buy” rating in a research report on Wednesday, October 14th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a report on Monday, August 31st. Barclays began coverage on GFL Environmental in a report on Wednesday, September 2nd. They set an “overweight” rating and a $58.00 price objective on the stock. Wolfe Research initiated coverage on GFL Environmental in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $77.00 target price for the company. Finally, TD Cowen reaffirmed a “buy” rating and issued a $65.00 target price on shares of GFL Environmental in a research note on Friday, September 11th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, GFL Environmental presently has a consensus rating of “Moderate Buy” and an average price target of $57.56.

Get Our Latest Report on GFL

(Free Report)

GFL Environmental Inc is a Canadian environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.

Read More Five stocks we like better than GFL Environmental GM Beat and Added a $20 Billion Buyback—Why Did the Stock Fall? Intercepting Growth: Karman Secures $218M Lockheed Martin Deal Tech Stocks Took a Hit—These 2 Pharma Stocks Are Near New Highs Chip Stocks Have Pulled Back—Here’s How 3 Semiconductor ETFs Stack Up for Investors Want to see what other hedge funds are holding GFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GFL Environmental Inc. (NYSE:GFL – Free Report).

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Final Court hearing scheduled for October 26, 2026; implementation expected November 5, 2026  | Source: Critical Metals Corp

NEW YORK, Oct. 22, 2026 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals exploration and mining company, today announced that European Lithium Limited (ASX: EUR, FRA: PF8, OTC: EULIF) (“European Lithium”) shareholders and optionholders have voted in favor of the Company’s proposed acquisition of European Lithium at the general meeting and the meetings of shareholders and optionholders to vote on the Schemes (the “Scheme Meetings”) held on October 22, 2026 in West Leederville, Western Australia.

Under the proposed transaction, Critical Metals Corp would acquire 100% of the issued share capital of European Lithium and all of European Lithium’s listed options by way of Court-approved schemes of arrangement under Part 5.1 of the Australian Corporations Act 2001 (Cth), comprising a scheme between European Lithium and its shareholders (the “Share Scheme”) and a scheme between European Lithium and the holders of its listed options (ASX: EUROC) (the “Option Scheme”, and together with the Share Scheme, the “Schemes”). The consideration payable under each Scheme is to be satisfied by the issue of new ordinary shares in Critical Metals Corp.

Voting Results

European Lithium has announced that the resolutions to approve the Share Scheme and the Option Scheme were each passed by the requisite majorities:

Share Scheme: 99.96% of the votes cast by European Lithium shareholders, and 97.22% of shareholders present and voting, were in favorOption Scheme: 100% of the votes cast by European Lithium optionholders, and 100% of optionholders present and voting, were in favor
European Lithium shareholders also approved the related party resolutions at the general meeting. With these approvals, the conditions requiring securityholder approval of the Schemes have been satisfied.

In accordance with ASX Listing Rule 3.13.3, European Lithium also released to the ASX the Chair’s address for the Scheme Meetings. The full announcement is available on the ASX and on European Lithium’s website.

Next Steps

The Schemes remain subject to approval by the Supreme Court of Western Australia (the “Court”) at the second court hearing, scheduled for October 26, 2026, and to the other conditions set out in the scheme booklet released to the ASX on September 15, 2026. If the Court approves the Schemes, they are expected to become effective on October 27, 2026, with trading in European Lithium shares and options on the ASX suspended from the close of trading that day.

The remaining key dates are expected to be:

October 26, 2026: Second court hearingOctober 27, 2026: Effective date and last day of trading of European Lithium shares and options on the ASXOctober 29, 2026: Record date for entitlements to the scheme considerationNovember 5, 2026: Implementation date and provision of the scheme consideration to European Lithium securityholdersNovember 6, 2026: New Critical Metals Corp shares expected to begin trading on Nasdaq, and European Lithium removed from the ASX Official List
Dates for events in Australia refer to Perth time. All dates are indicative only and remain subject to the Court approval process. Any changes will be announced by European Lithium on the ASX.

About Critical Metals Corp.

Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next-generation technologies for Europe and its Western world partners. Its flagship Project, Tanbreez, is one of the world's largest rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.

Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio.

Another key asset is Velta, a titanium producer whose main operation is the Byrzulivske mining and processing plant in the Kirovohrad region of central Ukraine. Velta is the only private Ukrainian company to have built its own titanium mining complex. Velta holds patented technology for turning ilmenite into titanium powder. Development of the nearby Likarivske deposit is planned as the base of a broader critical minerals cluster. Velta is well positioned to move from feedstock into titanium metal for Western supply chains, which would make it a unique and valuable addition to an expanding geostrategic critical metals portfolio.

With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.

For more information, please visit https://www.criticalmetalscorp.com/.

Cautionary Note Regarding Forward Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations, including with respect to the proposed acquisition of European Lithium and the anticipated timetable for and implementation of the Schemes. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “designed to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the “Risk Factors” section in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Critical Metals Corp.

Investor Relations: [email protected]
Media: [email protected]

BDF Gestion trimmed its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 22.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,778 shares of the social networking company’s stock after selling 9,569 shares during the quarter. Meta Platforms accounts for 3.3% of BDF Gestion’s portfolio, making the stock its 6th largest position. BDF Gestion’s holdings in Meta Platforms were worth $23,770,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Horizons Wealth Management bought a new stake in Meta Platforms in the 3rd quarter valued at $33,000. Advantage Trust Co acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $28,000. Philadelphia Investment Partners LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $32,000. Axiom Investment Management LLC bought a new position in shares of Meta Platforms during the 1st quarter worth about $36,000. Finally, Schuylkill Financial LLC bought a new position in shares of Meta Platforms during the 2nd quarter worth about $36,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms News Roundup Here are the key news stories impacting Meta Platforms this week:

Positive Sentiment: Revenue and earnings exceeded expectations. Meta reported record quarterly revenue of approximately $64.6 billion, up 26% year over year and above the roughly $63.3 billion consensus estimate. Earnings of $7.40 per share also surpassed analyst expectations near $6.54. The results highlighted continued strength in advertising volume, pricing and monetization. Meta Platforms Tops Q3 Earnings and Revenue Estimates Positive Sentiment: Muse is gaining meaningful traction. Meta said its AI assistant Muse has more than 10 million users, with shopping among the leading activities. Investors see the product as a potential way to increase engagement, improve recommendations and generate additional advertising and commerce revenue across Meta’s roughly 3.5 billion-user ecosystem. Meta Says Muse Has Over 10M Users Positive Sentiment: Analysts view the core business and AI returns favorably. Commentary following the report cited strong ad efficiency, higher engagement and healthy adjusted operating margins, supporting bullish views that Meta’s AI investments are beginning to contribute to the advertising business. Meta Q3 Strong Growth Makes This a Strong Buy Neutral Sentiment: Meta is expanding AI funding while trying to manage cash pressure. Third-quarter capital expenditures reached about $34.9 billion, and the company raised the low end of its annual spending outlook. A new nonvoting Class C share is intended to help fund the AI buildout without reducing Mark Zuckerberg’s voting control, but it introduces potential dilution and reinforces concerns about heavy future investment. Meta to Issue New Class of Shares Negative Sentiment: Legal liabilities remain a major overhang. A $9.9 billion charge tied to a teen social-media lawsuit weighed on reported profit, while a New Mexico court ordered Meta to pay $25 billion in a separate privacy case. Meta plans to appeal, but the judgment increases regulatory, financial and reputational risks. Meta Ordered to Pay $25 Billion to New Mexico Negative Sentiment: AI profitability is not yet established. Zuckerberg said Muse carries very high computing costs, and Reality Labs could lose approximately $15 billion next year. These losses may limit free cash flow and keep investors sensitive to whether AI growth ultimately produces returns exceeding the cost of the buildout. Meta CEO Says Muse and Reality Labs Are Unprofitable Negative Sentiment: Insider selling added a modest cautionary signal. COO Javier Olivan sold shares under a pre-arranged Rule 10b5-1 plan. Because the transactions were scheduled in advance, they are not necessarily a judgment on Meta’s outlook, but they reduce his direct ownership. SEC Insider Ownership Filing Insiders Place Their Bets In other news, COO Javier Olivan sold 946 shares of Meta Platforms stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $707.20, for a total value of $669,011.20. Following the completion of the transaction, the chief operating officer owned 5,986 shares in the company, valued at approximately $4,233,299.20. The trade was a 13.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Zuckerberg sold 27,474 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $777.44, for a total value of $21,359,386.56. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 149,906 shares of company stock valued at $102,347,409. 13.53% of the stock is currently owned by insiders. Analyst Ratings Changes Several brokerages have recently weighed in on META. Weiss Ratings upgraded shares of Meta Platforms from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Citic Securities lowered their target price on shares of Meta Platforms from $770.00 to $718.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. DZ Bank reissued a “buy” rating on shares of Meta Platforms in a research report on Thursday, July 30th. Monness Crespi & Hardt increased their price target on shares of Meta Platforms from $730.00 to $830.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Finally, Pivotal Research lifted their price objective on Meta Platforms from $790.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $811.24.

View Our Latest Analysis on META

Meta Platforms Stock Up 0.5% META opened at $697.52 on Thursday. The firm’s 50-day simple moving average is $662.27 and its 200-day simple moving average is $629.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $779.82. The firm has a market cap of $1.78 trillion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.28 and a beta of 1.19.

Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, October 21st. The social networking company reported $7.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.54 by $0.86. Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The business had revenue of $64.60 billion during the quarter, compared to analysts’ expectations of $63.34 billion. During the same quarter last year, the company posted $7.25 EPS. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. Equities research analysts anticipate that Meta Platforms, Inc. will post 27.32 EPS for the current fiscal year.

Meta Platforms Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, September 21st were paid a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms’s dividend payout ratio is currently 7.91%.

About Meta Platforms (Free Report)

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company’s principal platforms include Facebook, Instagram, Messenger, WhatsApp, and Threads, which enable users to connect, communicate, share content, and discover products and services.

Meta also operates Reality Labs, its division focused on virtual, augmented, and mixed reality technologies. Reality Labs develops products such as Meta Quest virtual reality headsets and related software and experiences, along with research and hardware intended to support immersive computing.

Featured Stories Five stocks we like better than Meta Platforms GM Beat and Added a $20 Billion Buyback—Why Did the Stock Fall? Intercepting Growth: Karman Secures $218M Lockheed Martin Deal Tech Stocks Took a Hit—These 2 Pharma Stocks Are Near New Highs Chip Stocks Have Pulled Back—Here’s How 3 Semiconductor ETFs Stack Up for Investors Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Free Report).

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Anthropic just put a proactive AI agent on your phone that reads your email and shops for you before you ask, and it is heading straight into territory Meta already claimed with 10 million users. The real fight is over…

Anthropic built its business selling Claude to companies and developers. Now it wants a spot on your phone, where it would manage your inbox and your shopping cart before you ask.

The company has introduced Claude Duet, its first consumer-facing AI agent, as a research preview with a waitlist. It will eventually be available to Pro and Max subscribers.

Duet is a proactive agent. It handles tasks such as shopping and reading email without waiting for you to ask, putting it up against OpenAI’s agents and Meta Platforms’ (NASDAQ:META | META Price Prediction) Muse agent.

Anthropic is coming late. Meta said on October 21, 2026, that more than 10 million people in the US and Canada had already set up Muse.

For investors, the question is who gets the value once every leading lab offers an agent. Meta closed at $697.52. The stock is up 5.93% year to date but down 5.9% over the past month.

Proactive Agents Turn Trust Into the Product
A chatbot answers questions. A proactive agent reads your email and spends your money, so its mistakes cost real dollars.

That makes permissions central. You have to grant account access, and someone has to carry the liability when an agent buys the wrong item.

Anthropic’s safety reputation is likely its best edge. A lab known for care may have an easier time getting access to inboxes and payment cards.

Meta is working on the same problem. Mark Zuckerberg said Meta plans a “Muse Confidential VM,” “which will make it so that even Meta cannot see your content.”

Meta’s Distribution Lead Will Be Hard to Close
Meta’s apps reach 3.64 billion people daily. Duet starts behind a waitlist inside a paid subscription.

In consumer technology, reach usually counts for more than model quality. Zuckerberg said shopping is Muse’s biggest use case, with over a quarter of active users engaging in shopping and an average purchase size above $200.

Meta had to ask Stripe to raise credit limits in the first week. Muse also comes to Meta smart glasses next month.

Switching costs are still low, however. If Duet handles email or purchases better, it could pull users away from free products.

Ads Versus Subscriptions Will Set the Margins
Anthropic plans to make money from paid levels. Meta wants the core product free for most people, with businesses paying commerce fees and power users paying for advanced models.

Shopping agents put search and display advertising at risk, because price-comparison software never scrolls past an ad. Meta wants to take a cut of the transaction instead. It is building an agentic-commerce protocol with partners including Sierra, Walmart, Stripe and Shopify.

Its ad engine pays for all of this. Third-quarter advertising revenue reached $63.06 billion, helped by a 14% rise in ad pricing.

Computing Bills Could Outrun Early Revenue
Agents run around constantly, which increases demand for chips and cloud capacity. Meta’s third-quarter capital expenditures were $34.9 billion, and it expects $135 billion to $145 billion for 2026.

That spending drove quarterly free cash flow to-$2.1 billion. CFO Susan Li said, “We expect total serving costs to rise” as Muse grows.

Meta expects to make Muse more than 10x more cost-efficient within a year, though the data-center expansion behind every leading agent still has to be powered and cooled by someone (we profiled seven of those suppliers in a free report, here). Anthropic has no advertising cash behind it, so subscriptions will have to cover those costs.

Privacy rules, purchase errors, and models becoming interchangeable are risks for every company here. Meta also recorded a $9.89 billion charge tied to a settlement with state attorneys general.

Whether AI Agents Can Pay Off for Investors
The bull case is that agents open new revenue in commerce, subscriptions, and enterprise software. Li said Meta’s new AI businesses could start adding revenue in 2027.

The bear case is cost. Meta’s free cash flow has already gone negative, and Duet adds another well-funded competitor that could push prices down.

On balance, Meta is the clearest listed example of a company already building revenue around AI agents. Revenue grew 26.1% to $64.60 billion while the company paid for Muse, as our live coverage of the quarter showed.

Without the legal charge, EPS would have been $7.40, and the stock trades at a P/E of about 25. It’s worth tracking whether Duet’s waitlist turns into paying users, but Meta’s reach puts it in a stronger position today.

Contact [email protected] for any questions or corrections.

Tesla's (TSLA.O) shares slid 5% in premarket trading on Thursday as the EV maker's reduced capital spending forecast raised ​questions about the pace of investment behind Elon Musk's ‌AI, robotics and autonomous-driving ambitions.

The company on Wednesday lowered its 2026 capital spending forecast to about $20 billion from more than $25 billion after spending far ​less than expected on AI and robotics in the ​third quarter, which led to a surprise positive free ⁠cash flow.

The strong position may prove valuable as CEO ​Musk explores combining Tesla with the far more capital-intensive SpaceX (SPCX.O).

But "investors are likely ​to come away with mixed feelings," J.P.Morgan analysts, led by Rajat Gupta, wrote in a note. "The delay helps near-term cash burn but also ​suggests delays in investments that matter for fruition of long-term ​opportunities."

Wednesday's management commentary suggested spending will be ramped up in 2027 and ‌2028 ⁠as Tesla continues to fund robotaxi, Optimus, AI compute and Terafab milestones, the brokerage said.

Tesla's shares have declined about 14% this year, in contrast to the Nasdaq's (.IXIC) roughly 15% gain. ​The stock is ​about 23% below ⁠its record intraday high of $498.83, reached in December 2025.

Its valuation, however, remains well above peers: ​Tesla traded at 188.24 times its forward earnings ​estimates, ⁠compared with 6.58 for Ford (F.N) and 5.16 for General Motors (GM.N).

"The risk is Tesla now enters a period of limbo while investors ⁠await ​news on a potential combination with ​SpaceX, which ... might face significant regulatory hurdles," said Russ Mould, investment director at ​AJ Bell.

Amazon.com Inc. (NASDAQ:AMZN) shares are in the spotlight Thursday, with earnings on deck, AWS growth and capital spending in focus, recent analyst activity, a technical setup showing improving momentum and Edge Rankings all drawing attention.

Amazon.com shares are under pressure. Why are AMZN shares declining?
Earnings Preview and HistoryAmazon is scheduled to report third-quarter earnings on Oct. 29 after the market closes. Analysts estimate earnings per share of $1.96 along with revenue of $202.21 billion. For the prior quarter, Amazon reported earnings per share of $5.75, beating the consensus estimate of $1.82, which included a $53.4 billion gain tied to its Anthropic stake. The company also posted revenue of $200.61 billion, beating the consensus estimate of $196.46 billion.

What to Watch: AWS Growth, AI Spending and Advertising TrendsInvestors will be closely tracking AWS, after revenue grew 37% to $42.2 billion in the second quarter, its fastest growth in 18 quarters, with a backlog of $496 billion. Analysts expect AWS growth of 30% to 35% in the third quarter. Capital spending will also be in focus after Amazon raised its 2026 capex outlook to $220 billion from $200 billion.

Third-quarter guidance calls for net sales of $197 billion to $202 billion and operating income of $22.5 billion to $26.5 billion, and growth looks softer because Prime Day fell in the second quarter this year instead of the third, which Amazon said cost nearly 4 percentage points of growth. Advertising, which rose 26% to $19.8 billion last quarter, will be watched as well.

Analyst Consensus & Recent ActionsThe stock carries a Buy rating with an average price forecast of $335.62. Recent analyst moves include:

Morgan Stanley: Overweight (Raises Target to $350.00) (Oct. 19)
Wells Fargo: Overweight (Lowers Target to $329.00) (Oct. 12)
Cantor Fitzgerald: Overweight (Lowers Target to $310.00) (Oct. 12)
Amazon Trades 5.8% Above Its 200-Day Average, With Improving Momentum and a May Golden Cross IntactFrom a trend perspective, Amazon is still holding a constructive longer-term posture: it’s trading about 1.1% above the 20-day SMA ($254.46), about 0.4% above the 50-day SMA ($256.33), and roughly 5.8% above the 200-day SMA ($243.21). That said, the 20-day SMA remains below the 50-day SMA (a short-term bearish crossover), which can keep rallies choppy until price proves it can build separation above the short-term averages.

Momentum is best framed through MACD right now: MACD is above its signal line and the histogram is positive, which points to improving momentum versus the prior downswing even if price is still vulnerable to a pullback on a weak tape. In plain terms, when MACD is above the signal line, it suggests downside pressure is easing, and buyers are starting to regain control at the margin.

Key levels are tight enough to matter quickly if volatility picks up after the open:

Key Resistance: $259.50 — a nearby pivot area where rebounds can stall, sitting just above current price and close to the short-term moving-average zone
Key Support: $244.50 — a nearby level where buyers previously stepped in, also not far above the 200-day moving-average area that often acts as a trend "line in the sand"
Zooming out, the bigger-picture backdrop remains positive with the stock up 20.38% over the past 12 months, and the golden cross in May (50-day SMA above the 200-day SMA) still supports the longer-term uptrend narrative. Traders will also remember the recent swing high in August and swing low in September as the most recent range that can define breakout or breakdown risk.

Benzinga Edge RankingsBelow is the Benzinga Edge scorecard for Amazon, highlighting its strengths and weaknesses compared to the broader market:

Momentum: Bullish (Score: 75.56) — The stock’s trend profile is still supportive, even with premarket weakness.
Quality: Neutral (Score: 59.67) — Fundamentals screen as steady rather than standout, which can keep the stock trading more "macro-driven."
Value: Neutral (Score: 56.25) — Valuation looks closer to the middle of the pack, suggesting price may hinge more on execution and guidance than multiple expansion.
Growth: Bullish (Score: 92.19) — Growth is the clear pillar, helping explain why the stock can stay well-bid on longer timeframes.
The Verdict: Amazon’s Benzinga Edge signal reveals a growth-led profile with supportive momentum, which can help the stock recover quickly when index pressure fades. The main trade-off is that value and quality read more middle-of-the-road, so the next catalyst—especially earnings—may matter more than the multiple.

Read Next

Amazon Shares Edge LowerAMZN Price Action: At the time of publication, Amazon shares are trading 1.73% lower at $257.82, according to data from Benzinga Pro.

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Nike (NKE -0.92%), one of the blue chip dividend stocks, has raised its dividend for 24 consecutive years. It also has a forward yield of 4.4%, making it a dividend stock with a moderately high yield. That yield may look like an opportunity, but it's more likely a warning sign.

Why? With earnings forecasts unable to cover the dividend until at least 2027, shares remain at high risk of a dividend cut. As low-risk 10-year Treasuries yield over 5% and Nike's turnaround timeline remains highly uncertain, the risk simply isn't worth the payoff for dividend investors for now.

Image source: Getty Images.

What it takes to earn $2,000 in annual dividends from Nike shares
Based on Nike's current quarterly dividend of $0.41 per share, the stock pays $1.64 per share annually. To generate $2,000 in annual dividend income, you would need to own around 1,220 shares. At today's stock price, it would require a $45,445 investment. However, putting that amount of capital to work in Nike shares requires taking current interest rate trends into account.

With the 10-year Treasury yielding around 5.15%, you could generate $2,340 per year, or an additional 17%, from this low-risk alternative. Even as Treasuries lack the long-term upside that stocks typically provide, consider the root cause of Nike steadily moving toward becoming one of the high-yield dividend stocks in the first place.

That would be the stock's 77% price drop over the last five years, coupled with continued dividend raises. Management has prioritized cash payouts, even as numerous headwinds and turnaround challenges continued to hinder the company's fiscal results.

NKE Nike$37.53-$0.35 (-0.92%)

NYSE · As of 4:00 PM ET 10/21/26

Uncertain turnaround prospects call into question making this a buy
For years, issues ranging from growing competition in China to the impact of inflation and tariffs on production costs have affected Nike's operating performance. As dividends kept rising, shares remain at risk of a further dive if management decides to reduce or eliminate it to conserve cash.

Although management remains highly committed to maintaining the dividend, given how it's expected to exceed estimated earnings in both 2026 and 2027, something may have to give. At the very least, the company needs to go from having a few green shoots, such as strengthening North American sales, to stabilizing and improving overall results.

All this said, Nike's management could prove me wrong as soon as November. That's when the company announces dividend increases. If management implements a meaningful increase, it could suggest strong results ahead when Q3 2026 results come out in December. However, if management implements a $0.01-dividend increase to maintain its dividend growth streak while conserving cash, it could be a warning sign of more trouble ahead.

Moreover, if you are approaching Nike as one of the dividend stocks to buy and hold, I would at least wait until the December earnings report. Even if shares rise in response to improved results, much of the underlying uncertainty will have cleared by then.

At the same time, it's not as if shares are going to make a full recovery on this news alone. Post-rally, there could still be an opportunity to scoop up this blue chip while it sports an above-average yield and improved long-term prospects to boot.

FORT WORTH, Texas, Oct. 22, 2026 (GLOBE NEWSWIRE) -- American Airlines Group Inc. (NASDAQ: AAL) today reported its third-quarter 2026 financial results, reflecting execution of its commercial strategy and the benefits of long-term investments in its customers, team members, network, fleet and technology.

Third-quarter financial highlights:

Total revenue of $16.3 billion, up 19.3% year over year, above the high end of the previously announced guidance range.Delivered the best unit cost performance among the network carriers, with CASM-ex1 up 3.0%.Fuel expense for the quarter increased $1.9 billion, or 67.5%, year over year.GAAP net loss of $269 million, or ($0.41) per diluted share.Adjusted net loss of $182 million2, or ($0.28) per diluted share. Adjusted net loss was only $71 million below third quarter 2025 despite the $1.9 billion increase in fuel expense. “American delivered record third-quarter revenue and the strongest year-over-year revenue growth in my career, with premium performance leading the way,” said American's CEO Robert Isom. "The investments we are making across the four pillars of our commercial strategy are working, and we expect another quarter of record revenue growth to close out the year. While historically high fuel prices significantly impacted our financial results, our focus remains on restoring profitability and building a stronger American for the long term. I’m grateful to the American Airlines team for making this progress possible.”

The company’s third-quarter results were driven by strong revenue performance across all geographies and cabins:

Premium revenue increased 22.9%, and Main Cabin revenue increased 19.5% year over year.Total unit revenue increased 14.5% year over year, reflecting continued strength in demand for travel.Domestic passenger unit revenue increased 13.6% year over year in the third quarter.International passenger unit revenue increased 16.4%, with the Latin America entity up 21.1%, the Atlantic entity up 14.5% and the Pacific entity up 11.3% compared to the third quarter of 2025.AAdvantage® enrollments increased 27.4% year over year.Demand for business travel remained strong, with managed corporate revenue increasing 27.6% year over year, marking the sixth consecutive quarter of double-digit growth. This revenue performance was a result of the company’s continued focus on its four commercial pillars: elevate the customer experience, grow the global network, drive premium revenue and lead in loyalty.

1) Elevate the customer experience

American’s investments in high-speed connectivity, lounges, seatback entertainment, airport facilities and fleet modernization are creating the foundation for a best-in-class customer experience.

In May, American announced plans to equip more than 500 aircraft with high-speed Starlink Wi-Fi, representing the largest in-flight connectivity upgrade in the airline’s history. Building on that commitment, the company announced on Oct. 8 that it plans to expand Starlink installation across its entire mainline fleet, bringing the technology to more than 1,000 aircraft. Once installation is complete, American will offer one of the largest fleets of Starlink-connected aircraft in the world.

The company also continues to grow its Admirals Club® and premium lounge network with more lounges opening or being renovated than at any point in company history. Additionally, American announced the expansion of seatback entertainment to the narrowbody fleet, including screens on new deliveries beginning in 2028. With these foundational investments underway, American remains focused on further improving customer satisfaction through enhanced operational reliability, better disruption management and a more consistent travel experience.

2) Grow the global network

American continues to strengthen its global network, offering customers more destinations, better connectivity and greater schedule utility. At Dallas Fort Worth International Airport (DFW), this year's rebank produced record passenger volumes, fewer misconnections and mishandled bags, and unit revenue that outpaced the rest of the system. In Chicago, Miami, Philadelphia and Phoenix, American is building stronger schedules for local customers.

3) Drive premium revenue

American continues to see momentum in premium demand, demonstrating the benefits of recent investments across its premium products and customer experience. Premium passenger unit revenue increased 18.5% year over year during the third quarter, compared with an increase of 14.4% in Main Cabin.

American plans to continue expanding premium seating through the delivery of new aircraft and the retrofit of existing aircraft. Premium products generate roughly half of the company's ticket revenue on approximately 30% of seats today. Through the recently announced narrowbody retrofit program, American expects premium seats on narrowbody aircraft to increase to 40% in the coming years.

The company also continues to take actions to improve revenue quality and provide customers with a broader range of choices. These initiatives contributed to a 6-point increase in the upsell rate from Basic Economy to Main Cabin during the quarter.

4) Lead in loyalty

The AAdvantage® program remains one of American's strongest competitive advantages, driving customer engagement, premium demand and long-term value creation. The program continues to benefit from strong member activity, increased engagement and enhancements to American’s co-branded credit card program.

Enrollments in the AAdvantage® program increased 27.4% year over year in the third quarter. American’s co-branded credit card partnership with Citi saw year-over-year third-quarter card spend growth of nearly 10%.

Efficiency and cost performance

American continues to benefit from long-term investments in technology, procurement and other initiatives designed to build a more efficient and resilient airline. The company is reengineering how work gets done across the business, improving productivity and simplifying processes while continuing to invest in the customer and team member experience.

By the end of 2026, the company expects to have achieved nearly $1 billion in annual run rate savings and more than $900 million in working capital improvements through its multiyear reengineering efforts. American continues to identify opportunities to use technology, automation and artificial intelligence to simplify the business and equip team members with better tools to improve decision-making.

“We remain focused ​on the ​factors ​that drive the most value,” said American’s ​Chief Financial Officer Devon ​May. “Our long-term ​focus ​on ​efficiency supported ​industry-leading unit ​cost results in the quarter, with CASM-ex ​increasing 3.0% ​year over ​year. For the full year, we expect to lead the network carriers in the spread between year-over-year unit revenue and CASM-ex growth.”

Overall financial results were pressured by a significant increase in fuel costs. American paid an average of $3.85 per gallon in the third quarter, which increased fuel expense by $1.9 billion year over year.

Balance sheet and liquidity

American ended the third quarter with $11.8 billion of total available liquidity and more than $26 billion of unencumbered assets and first-lien capacity. The company remains committed to reducing debt, lowering interest expense and achieving its target of 3.0x net debt3 to EBITDAR, in line with BB credit metrics.

Outlook and financial guidance

In​ the fourth ​quarter, ​the ​company ​expects continued ​revenue ​strength, with ​year-over-year ​revenue ​growth ​between ​19.5% and 22.5%. ​Based ​on the forward fuel curve ​as ​of Oct. 19, American anticipates an ​average fuel price ​of ​approximately $4.70 ​per gallon, nearly double the price paid in ​the fourth ​quarter of ​2025. At ​that price, ​fuel ​expense is ​expected to increase approximately $2.8 billion ​versus ​the fourth ​quarter of ​2025.

Given elevated fuel prices, American expects network growth in 2027 to slow from 2026 levels.

4Q 2026E (vs. 4Q 2025)Available seat miles+5.5% – +6.5%Total revenue+19.5% – +22.5%CASM excluding net special items, fuel and profit sharing1+2.5% – +3.5%Adjusted loss per diluted share4($1.10) – ($0.50)  FY 2026E Adjusted loss per diluted share4($1.60) – ($1.00)   Conference call and webcast

American will host a conference call at 7:30 a.m. CT today. A live webcast and replay will be available at American’s investor relations website.

Notes

See the accompanying notes in the financial tables section of this news release for further explanation, including reconciliations of certain GAAP to non-GAAP financial information.

Cost per available seat mile excluding net special items, fuel and profit sharing, or CASM-ex, is a non-GAAP measure. The company is unable to reconcile certain forward-looking information to GAAP because the nature or amount of net special items cannot be determined at this time.Adjusted net loss is a non-GAAP financial measure and excludes $87 million of net special items after the effect of taxes that the company recognized in the third quarter.Net debt includes debt, finance and operating lease liabilities and pension obligations less unrestricted cash and short-term investments.Adjusted loss per diluted share guidance excludes the impact of net special items and represents an absolute number, not a year-over-year comparison. The company is unable to reconcile certain forward-looking information to GAAP as the nature or amount of net special items cannot be determined at this time.Other: Third-quarter revenue growth of 19.3% is the highest in company history excluding the years following the pandemic.

About American Airlines Group (NASDAQ: AAL)

American Airlines is a premium global airline connecting more of the U.S. to the world. With roots tracing back to an air mail carrier in the Midwestern United States in 1926, American now operates more than 6,000 daily flights to more than 350 destinations in more than 60 countries and serves more than 200 million customers annually. Powered by a proud and talented team of 140,000 aviation professionals, American’s team lives out the airline’s purpose of caring for people on life’s journey every day.

The world’s largest airline proudly celebrates its centennial year in 2026, reaching a milestone that reflects a century of innovation and the Forever ForwardSM spirit that changed the industry and the world. American introduced the first scheduled air cargo service, the first airport lounge and the first airline loyalty program and continues to reinvent the customer experience today. The airline is also a founding member of the oneworld alliance, whose members serve more than 900 destinations around the globe.

Get the latest about American at news.aa.com and @AmericanAir.

Use of websites and social media to disclose information

American routinely uses the investor relations section of its website as well as its social media pages, including on Facebook and X, and its newsroom at news.aa.com, to disclose important information about American Airlines Group Inc. and its subsidiaries and to comply with its disclosure obligations under Regulation Fair Disclosure. The information contained on, or that may be accessed through, the company’s website, social media channels or newsroom is not incorporated by reference into, and is not a part of, this document, and all website addresses in this document are intended to be inactive textual references only.

Cautionary statement regarding forward-looking statements and information

Certain of the statements contained in this document should be considered forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast” and other similar words. Such statements include, but are not limited to, statements about the company’s plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements that are not historical facts. These forward-looking statements are based on the company’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, but are not limited to, downturns in economic conditions could adversely affect our business; we will need to obtain sufficient financing or other capital to operate successfully; our high level of debt and other obligations may limit our ability to fund general corporate requirements and obtain additional financing, may limit our flexibility in responding to competitive developments and may cause our business to be vulnerable to adverse economic and industry conditions; if our financial condition worsens, provisions in our credit card processing and other commercial agreements may adversely affect our liquidity; the loss of key personnel whom we depend on to operate our business, or the inability to attract, develop and retain additional qualified personnel could adversely affect our business; our business has been and will continue to be materially affected by many changing economic, geopolitical, commercial, regulatory and other conditions beyond our control, including global events that affect travel behavior; the airline industry is intensely competitive and dynamic; union disputes, employee strikes and other labor-related disruptions may adversely affect our operations and financial performance; if we encounter problems with any of our third-party regional operators or third-party service providers, our operations could be adversely affected by a resulting decline in revenue or negative public perception about our services; any damage to our reputation or brand image could adversely affect our business or financial results; risks of losses and adverse publicity from any public incidents involving our company, people or brand; changes to our business model that are designed to increase revenues and reduce costs may not be successful and may cause operational difficulties or decreased demand; our intellectual property rights, particularly our branding rights, are valuable, and any inability to protect them may adversely affect our business and financial results; we may be a party to litigation in the normal course of business or otherwise, which could affect our financial position and liquidity; we rely heavily on technology and automated systems, including artificial intelligence, to operate our business, and any failures could harm our business, results of operations and financial condition; evolving data privacy requirements could increase our costs, and any significant cybersecurity incident could disrupt our operations, harm our reputation, expose us to legal risks and otherwise materially adversely affect our business, results of operations and financial condition; we are exposed to risks from cyberattacks, and any cybersecurity incidents involving us, our third-party service providers, or one of our AAdvantage partners or other business partners; we have a significant amount of goodwill, which is assessed for impairment at least annually. We may never realize the full value of our intangible or long-lived assets, causing us to record material impairment charges; the commercial relationships that we have with other companies, including any related equity investments, may not produce the returns or results we expect; our business is very dependent on the price and availability of aircraft fuel. Continued periods of high volatility in fuel costs, increased fuel prices or significant disruptions in the supply of aircraft fuel could have a significant negative impact on consumer demand, our operating results and liquidity; our business is subject to extensive government regulation; we can be adversely affected by any prolonged partial or full U.S. Government shutdown; we operate a global business with international operations that are subject to economic and political instability and have been, and in the future may continue to be, adversely affected by numerous events, circumstances or government actions beyond our control; we may be adversely affected by conflicts overseas, terrorist attacks or other acts of violence, domestically or abroad; the travel industry continues to face ongoing security concerns; we are subject to risks associated with climate change, including increased regulation of our greenhouse gas emissions, changing consumer preferences and the potential for increased impacts of severe weather events on our operations and infrastructure; we are subject to various risks associated with environmental and social matters, and many forms of environmental and noise regulation; a shortage of pilots or other personnel could materially adversely affect our business; we depend on a limited number of suppliers for aircraft, aircraft engines and parts. Delays in scheduled aircraft deliveries, unexpected grounding of aircraft or aircraft engines whether by regulators or by us, or other loss of anticipated fleet capacity, and failure of new aircraft to receive regulatory approval, be produced or otherwise perform as and when expected, adversely impacts our business, results of operations and financial condition; we rely on third-party distribution channels and must effectively manage the costs, rights and functionality of these channels; if we are unable to obtain and maintain adequate facilities and infrastructure throughout our system and, at some airports, adequate slots, we may be unable to operate our existing flight schedule and to expand or change our route network in the future; interruptions or disruptions in service at one of our key facilities; increases in insurance costs or reductions in insurance coverage, and heavy taxation of the airline industry; risks related to ownership of AAG common stock; and other risks set forth herein as well as in the company’s latest annual report on Form 10-K for the year ended December 31, 2025 (especially in Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations) and subsequent quarterly reports on Form 10-Q (especially in Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A. Risk Factors), and other risks and uncertainties listed from time to time in the company’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which the company is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. The company does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement.

Financial tables

American Airlines Group Inc. Condensed Consolidated Statements of Operations (In millions, except share and per share amounts) (Unaudited)                 3 Months Ended
September 30, Percent
Increase 9 Months Ended
September 30, Percent
Increase    2026   2025  (Decrease)  2026   2025  (Decrease)               Operating revenues:             Passenger $14,900  $12,471  19.5  $42,609  $36,985  15.2  Cargo  274   212  29.1   761   612  24.3  Other  1,161   1,008  15.2   3,612   3,037  18.9  Total operating revenues  16,335   13,691  19.3   46,982   40,634  15.6                Operating expenses:             Aircraft fuel and related taxes  4,635   2,767  67.5   12,444   8,017  55.2  Salaries, wages and benefits  4,713   4,461  5.7   14,027   13,065  7.4  Regional expenses:             Regional operating expenses  1,356   1,286  5.5   4,012   3,809  5.3  Regional depreciation and amortization  93   84  10.5   276   244  13.0  Maintenance, materials and repairs  1,092   1,028  6.2   3,100   2,876  7.8  Other rent and landing fees  996   906  9.9   2,862   2,627  9.0  Aircraft rent  309   310  (0.5)  926   910  1.7  Selling expenses  553   483  14.7   1,664   1,467  13.4  Depreciation and amortization  493   474  3.9   1,446   1,418  2.0  Special items, net  9   7  22.5   29   125  (76.6) Other  1,971   1,734  13.7   5,675   5,061  12.1  Total operating expenses  16,220   13,540  19.8   46,461   39,619  17.3                Operating income  115   151  (23.4)  521   1,015  (48.7)               Nonoperating income (expense):             Interest income  87   90  (3.8)  217   285  (24.0) Interest expense, net  (435)  (432) 0.7   (1,242)  (1,294) (4.0) Other income (expense), net  (101)  49  nm(1)  (198)  42  nm  Total nonoperating expense, net  (449)  (293) 53.8   (1,223)  (967) 26.5                Income (loss) before income taxes  (334)  (142) nm   (702)  48  nm                  Income tax provision (benefit)  (65)  (28) nm   (122)  36  nm                  Net income (loss) $(269) $(114) nm  $(580) $12  nm                              Earnings (loss) per common share:             Basic $(0.41) $(0.17)   $(0.88) $0.02    Diluted $(0.41) $(0.17)   $(0.88) $0.02                  Weighted average shares outstanding (in thousands):             Basic  662,706   660,358     662,026   659,788    Diluted  662,706   660,358     662,026   660,784                                              Note: Percent change may not recalculate due to rounding.
              (1) Not meaningful or greater than 100% change.
                American Airlines Group Inc.Consolidated Operating Statistics (1)(Unaudited)                 3 Months Ended
September 30, Increase  9 Months Ended
September 30, Increase   2026 2025 (Decrease)  2026 2025 (Decrease)                Revenue passenger miles (millions) 67,265 66,580 1.0 % 193,934 188,698 2.8 %Available seat miles (ASM) (millions) 80,680 77,400 4.2 % 234,533 224,939 4.3 %Passenger load factor (percent) 83.4 86.0 (2.6)pts 82.7 83.9 (1.2)ptsYield (cents) 22.15 18.73 18.3 % 21.97 19.60 12.1 %Passenger revenue per ASM (cents) 18.47 16.11 14.6 % 18.17 16.44 10.5 %Total revenue per ASM (cents) 20.25 17.69 14.5 % 20.03 18.06 10.9 %Cargo ton miles (millions) 625 545 14.7 % 1,790 1,550 15.5 %Cargo yield per ton mile (cents) 43.86 38.94 12.6 % 42.52 39.52 7.6 %               Fuel consumption (gallons in millions) 1,204 1,169 3.0 % 3,473 3,375 2.9 %Average aircraft fuel price including related taxes (dollars per gallon) 3.85 2.37 62.7 % 3.58 2.38 50.8 %               Operating cost per ASM (cents) 20.10 17.49 14.9 % 19.81 17.61 12.5 %Operating cost per ASM excluding net special items (cents) 20.08 17.48 14.9 % 19.79 17.56 12.7 %Operating cost per ASM excluding net special items and fuel (cents) 14.34 13.91 3.1 % 14.49 13.99 3.5 %Operating cost per ASM excluding net special items, fuel and profit sharing (cents)14.34 13.92 3.0 % 14.49 13.98 3.6 %               Passenger enplanements (thousands) 58,143 58,474 (0.6)% 169,014 168,220 0.5 %Departures (thousands):              Mainline 304 298 2.3 % 896 881 1.7 %Regional 281 267 5.3 % 820 787 4.2 %Total 585 565 3.7 % 1,716 1,668 2.9 %Average stage length (miles):              Mainline 1,220 1,201 1.6 % 1,212 1,188 2.0 %Regional 471 464 1.4 % 473 465 1.9 %Total 861 853 0.9 % 859 846 1.5 %Aircraft at end of period:              Mainline 1,037 998 3.9 % 1,037 998 3.9 %Regional (2) 587 557 5.4 % 587 557 5.4 %Total 1,624 1,555 4.4 % 1,624 1,555 4.4 %Full-time equivalent employees at end of period:              Mainline 107,700 104,900 2.7 % 107,700 104,900 2.7 %Regional (3) 33,400 32,000 4.4 % 33,400 32,000 4.4 %Total 141,100 136,900 3.1 % 141,100 136,900 3.1 %                              Note: Amounts may not recalculate due to rounding.                             (1) Unless otherwise noted, operating statistics include mainline and regional operations. Regional includes wholly-owned regional airline subsidiaries and operating results from capacity purchase carriers.(2) Includes aircraft owned and leased by American as well as aircraft operated by third-party regional carriers under capacity purchase agreements. Excluded from the aircraft count above are two Bombardier CRJ900 regional aircraft that are held in temporary storage as of September 30, 2026.(3) Regional full-time equivalent employees only include our wholly-owned regional airline subsidiaries.                American Airlines Group Inc.Consolidated Revenue Statistics by Region(Unaudited)                 3 Months Ended
September 30, Increase  9 Months Ended
September 30, Increase   2026 2025 (Decrease)  2026 2025 (Decrease)                Domestic (1)              Revenue passenger miles (millions) 44,579 43,741 1.9 % 129,068 125,206 3.1 %Available seat miles (ASM) (millions) 54,096 51,106 5.9 % 157,579 149,762 5.2 %Passenger load factor (percent) 82.4 85.6 (3.2)pts 81.9 83.6 (1.7)ptsPassenger revenue (dollars in millions) 10,489 8,723 20.2 % 30,205 26,010 16.1 %Yield (cents) 23.53 19.94 18.0 % 23.40 20.77 12.7 %Passenger revenue per ASM (cents) 19.39 17.07 13.6 % 19.17 17.37 10.4 %               Latin America (2)              Revenue passenger miles (millions) 7,706 7,726 (0.3)% 26,612 26,106 1.9 %Available seat miles (millions) 8,807 8,832 (0.3)% 31,379 30,560 2.7 %Passenger load factor (percent) 87.5 87.5 - pts 84.8 85.4 (0.6)ptsPassenger revenue (dollars in millions) 1,618 1,340 20.7 % 5,307 4,795 10.7 %Yield (cents) 20.99 17.34 21.1 % 19.94 18.37 8.6 %Passenger revenue per ASM (cents) 18.37 15.17 21.1 % 16.91 15.69 7.8 %               Atlantic              Revenue passenger miles (millions) 12,746 12,951 (1.6)% 30,802 30,317 1.6 %Available seat miles (millions) 15,023 14,878 1.0 % 36,708 36,255 1.2 %Passenger load factor (percent) 84.8 87.0 (2.2)pts 83.9 83.6 0.3 ptsPassenger revenue (dollars in millions) 2,438 2,109 15.6 % 5,893 5,160 14.2 %Yield (cents) 19.13 16.28 17.5 % 19.13 17.02 12.4 %Passenger revenue per ASM (cents) 16.23 14.17 14.5 % 16.05 14.23 12.8 %               Pacific              Revenue passenger miles (millions) 2,234 2,162 3.3 % 7,452 7,069 5.4 %Available seat miles (millions) 2,754 2,584 6.6 % 8,867 8,362 6.0 %Passenger load factor (percent) 81.1 83.7 (2.6)pts 84.0 84.5 (0.5)ptsPassenger revenue (dollars in millions) 355 299 18.5 % 1,204 1,020 18.0 %Yield (cents) 15.88 13.84 14.8 % 16.15 14.43 11.9 %Passenger revenue per ASM (cents) 12.88 11.58 11.3 % 13.57 12.20 11.3 %               Total International              Revenue passenger miles (millions) 22,686 22,839 (0.7)% 64,866 63,492 2.2 %Available seat miles (millions) 26,584 26,294 1.1 % 76,954 75,177 2.4 %Passenger load factor (percent) 85.3 86.9 (1.6)pts 84.3 84.5 (0.2)ptsPassenger revenue (dollars in millions) 4,411 3,748 17.7 % 12,404 10,975 13.0 %Yield (cents) 19.44 16.41 18.5 % 19.12 17.29 10.6 %Passenger revenue per ASM (cents) 16.59 14.25 16.4 % 16.12 14.60 10.4 %               Note: Amounts may not recalculate due to rounding.                             (1) Domestic results include Canada, Puerto Rico and U.S. Virgin Islands.(2) Latin America results include the Caribbean.                Reconciliation of GAAP Financial Information to Non-GAAP Financial Information                           American Airlines Group Inc. (the Company) sometimes uses financial measures that are derived from the condensed consolidated financial statements but that are not presented in accordance with GAAP to understand and evaluate its current operating performance and to allow for period-to-period comparisons. The Company believes these non-GAAP financial measures may also provide useful information to investors and others. These non-GAAP measures may not be comparable to similarly titled non-GAAP measures of other companies, and should be considered in addition to, and not as a substitute for or superior to, any measure of performance, cash flow or liquidity prepared in accordance with GAAP. The Company is providing a reconciliation of reported non-GAAP financial measures to their comparable financial measures on a GAAP basis. The tables below present the reconciliations of the following GAAP measures to their non-GAAP measures:  - Operating Income (GAAP measure) to Operating Income Excluding Net Special Items (non-GAAP measure) 
- Operating Margin (GAAP measure) to Operating Margin Excluding Net Special Items (non-GAAP measure)
- Pre-Tax Income (Loss) (GAAP measure) to Pre-Tax Income (Loss) Excluding Net Special Items (non-GAAP measure)
- Pre-Tax Margin (GAAP measure) to Pre-Tax Margin Excluding Net Special Items (non-GAAP measure)
- Net Income (Loss) (GAAP measure) to Net Income (Loss) Excluding Net Special Items (non-GAAP measure)
- Basic and Diluted Earnings (Loss) Per Share (GAAP measure) to Basic and Diluted Earnings (Loss) Per Share Excluding Net Special Items (non-GAAP measure) Management uses these non-GAAP financial measures to evaluate the Company's current operating performance and to allow for period-to-period comparisons. As net special items may vary from period-to-period in nature and amount, the adjustment to exclude net special items provides management with an additional tool to understand the Company’s core operating performance. Additionally, the tables below present the reconciliations of total operating costs (GAAP measure) to total operating costs excluding net special items, fuel and profit sharing (non-GAAP measure) and total operating costs per ASM (CASM) to CASM excluding net special items, fuel and profit sharing. Management uses total operating costs excluding net special items, fuel and profit sharing and CASM excluding net special items, fuel and profit sharing to evaluate the Company's current operating performance and to allow for period-to-period comparisons. The price of fuel, over which the Company has no control, impacts the comparability of period-to-period financial performance. Additionally, the Company excludes profit sharing to allow investors to better understand and analyze its operating cost performance and to provide a more meaningful comparison of its core operating costs to the airline industry. The adjustment to exclude net special items, fuel and profit sharing provides management with an additional tool to understand and analyze the Company’s non-fuel costs and core operating performance.    Reconciliation of Operating Income Excluding Net Special Items 3 Months Ended
September 30, Percent
Increase 9 Months Ended
September 30,Percent
Increase    2026   2025  (Decrease)  2026   2025  (Decrease)    (in millions)   (in millions)                   Operating income as reported $115  $151    $521  $1,015     Operating net special items:              Mainline operating special items, net (1)  9   7     29   125     Regional operating special items, net  8   -     8   -     Operating income excluding net special items $132  $158  (16.2%) $558  $1,140  (51.0%)                 Calculation of Operating Margin                             Operating income as reported $115  $151    $521  $1,015                    Total operating revenues as reported $16,335  $13,691    $46,982  $40,634                    Operating margin  0.7%  1.1%    1.1%  2.5%                   Calculation of Operating Margin Excluding Net Special Items                             Operating income excluding net special items $132  $158    $558  $1,140                    Total operating revenues as reported $16,335  $13,691    $46,982  $40,634                    Operating margin excluding net special items  0.8%  1.2%    1.2%  2.8%                   Reconciliation of Pre-Tax Income (Loss) Excluding Net Special Items                             Pre-tax income (loss) as reported $(334) $(142)   $(702) $48     Pre-tax net special items:              Mainline operating special items, net (1)  9   7     29   125     Regional operating special items, net  8   -     8   -     Nonoperating special items, net (2)  95   (4)    259   28     Total pre-tax net special items  112   3     296   153                    Pre-tax income (loss) excluding net special items $(222) $(139) 60.1% $(406) $201  nm                 Calculation of Pre-Tax Margin                             Pre-tax income (loss) as reported $(334) $(142)   $(702) $48                    Total operating revenues as reported $16,335  $13,691    $46,982  $40,634                    Pre-tax margin  (2.0%)  (1.0%)    (1.5%)  0.1%                   Calculation of Pre-Tax Margin Excluding Net Special Items                             Pre-tax income (loss) excluding net special items $(222) $(139)   $(406) $201                    Total operating revenues as reported $16,335  $13,691    $46,982  $40,634                    Pre-tax margin excluding net special items  (1.4%)  (1.0%)    (0.9%)  0.5%                                    3 Months Ended
September 30, Percent
Increase 9 Months Ended
September 30,Percent
Increase  Reconciliation of Net Income (Loss) Excluding Net Special Items  2026   2025  (Decrease)  2026   2025  (Decrease)    (in millions, except share and per share amounts)   (in millions, except share and per share amounts)                   Net income (loss) as reported $(269) $(114)   $(580) $12     Net special items:              Total pre-tax net special items (1), (2)  112   3     296   153     Net tax effect of net special items  (25)  -     (66)  (34)    Net income (loss) excluding net special items $(182) $(111) 63.7% $(350) $131  nm                 Reconciliation of Basic and Diluted Earnings (Loss) Per Share Excluding Net Special Items                             Net income (loss) excluding net special items $(182) $(111)   $(350) $131                    Shares used for computation (in thousands):              Basic  662,706   660,358     662,026   659,788     Diluted  662,706   660,358     662,026   660,784                    Earnings (loss) per share excluding net special items:              Basic $(0.28) $(0.17)   $(0.53) $0.20     Diluted $(0.28) $(0.17)   $(0.53) $0.20                    Reconciliation of Total Operating Costs per ASM Excluding Net Special Items, Fuel and Profit Sharing                             Total operating expenses as reported $16,220  $13,540    $46,461  $39,619                    Operating net special items:              Mainline operating special items, net (1)  (9)  (7)    (29)  (125)    Regional operating special items, net  (8)  -     (8)  -     Total operating expenses excluding net special items  16,203   13,533     46,424   39,494                    Aircraft fuel and related taxes  (4,635)  (2,767)    (12,444)  (8,017)    Total operating expenses excluding net special items and fuel  11,568   10,766     33,980   31,477                    Profit sharing  -   8     -   (33)    Total operating expenses excluding net special items, fuel and profit sharing $11,568  $10,774    $33,980  $31,444                      (in cents)   (in cents)                  Total operating expenses per ASM as reported  20.10   17.49     19.81   17.61                    Operating net special items per ASM:              Mainline operating special items, net (1)  (0.01)  (0.01)    (0.01)  (0.06)    Regional operating special items, net  (0.01)  -     -   -     Total operating expenses per ASM excluding net special items  20.08   17.48     19.79   17.56                    Aircraft fuel and related taxes per ASM  (5.74)  (3.58)    (5.31)  (3.56)    Total operating expenses per ASM excluding net special items and fuel  14.34   13.91     14.49   13.99                    Profit sharing per ASM  -   0.01     -   (0.01)    Total operating expenses per ASM excluding net special items, fuel and profit sharing  14.34   13.92     14.49   13.98                    Note: Amounts may not recalculate due to rounding.
                           FOOTNOTES:                            (1)The 2025 nine month period mainline operating special items, net principally included a one-time charge resulting from adjustments to vacation accruals due to pay rate increases effective January 1, 2025, following the ratification of the contract extension in the fourth quarter of 2024 with the Company's mainline maintenance and fleet service team members and adjustments to litigation reserves.                (2)Principally included mark-to-market net unrealized gains and losses associated with certain equity investments as well as charges associated with debt refinancings and extinguishments. Additionally, the 2026 third quarter and nine month period included an impairment charge related to the Company's equity investment in Republic Airways Holdings Inc.                 American Airlines Group Inc. Condensed Consolidated Statements of Cash Flows (In millions) (Unaudited)             9 Months Ended
September 30,      2026   2025           Net cash provided by operating activities$4,541  $3,373   Cash flows from investing activities:     Capital expenditures and aircraft purchase deposits (2,728)  (2,149)  Proceeds from sale-leaseback transactions and sale of property and equipment 77   243   Purchases of short-term investments (5,026)  (4,801)  Sales of short-term investments 2,751   4,944   Decrease (increase) in restricted short-term investments 180   (20)  Other investing activities (79)  279   Net cash used in investing activities (4,825)  (1,504)  Cash flows from financing activities:     Proceeds from issuance of long-term debt 5,933   2,169   Payments on long-term debt and finance leases (5,347)  (4,087)  Other financing activities (130)  85   Net cash provided by (used in) financing activities 456   (1,833)  Net increase in cash and restricted cash 172   36   Cash and restricted cash at beginning of period 1,056   902   Cash and restricted cash at end of period (1)$1,228  $938                  ‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
      (1)The following table provides a reconciliation of cash and restricted cash to amounts reported within the condensed consolidated balance sheets:          Cash $1,124  $835   Restricted cash included in restricted cash and short-term investments 104   103   Total cash and restricted cash$1,228  $938           American Airlines Group Inc. Condensed Consolidated Balance Sheets (In millions, except shares)         September 30, 2026 December 31, 2025  (unaudited)   Assets         Current assets    Cash$1,124  $954  Short-term investments 7,163   4,882  Restricted cash and short-term investments 555   735  Accounts receivable, net 1,928   2,075  Aircraft fuel, spare parts and supplies, net 3,171   2,792  Prepaid expenses and other 800   767  Total current assets 14,741   12,205       Operating property and equipment    Flight equipment 48,715   46,597  Ground property and equipment 10,808   10,479  Equipment purchase deposits 633   656  Total property and equipment, at cost 60,156   57,732  Less accumulated depreciation and amortization (26,530)  (25,192) Total property and equipment, net 33,626   32,540       Operating lease right-of-use assets 6,744   7,091       Other assets    Goodwill 4,091   4,091  Intangibles, net 2,067   2,066  Deferred tax asset 2,477   2,368  Other assets 1,272   1,413  Total other assets 9,907   9,938       Total assets$65,018  $61,774       Liabilities and Stockholders’ Equity (Deficit)         Current liabilities    Current maturities of long-term debt and finance leases$3,692  $3,753  Accounts payable 3,334   2,840  Accrued salaries and wages 2,175   2,128  Air traffic liability 9,414   7,158  Loyalty program liability 4,446   3,725  Operating lease liabilities 1,032   1,058  Fuel financing 933   914  Other accrued liabilities 2,997   2,916  Total current liabilities 28,023   24,492       Noncurrent liabilities    Long-term debt and finance leases, net of current maturities 25,943   25,254  Pension and postretirement benefits 1,099   1,568  Loyalty program liability 7,068   6,839  Operating lease liabilities 5,607   5,905  Other liabilities 1,502   1,443  Total noncurrent liabilities 41,219   41,009       Stockholders' equity (deficit)    Common stock, 662,618,434 shares outstanding at September 30, 2026 7   7  Additional paid-in capital 7,424   7,387  Accumulated other comprehensive loss (4,343)  (4,389) Retained deficit (7,312)  (6,732) Total stockholders' deficit (4,224)  (3,727)      Total liabilities and stockholders’ equity (deficit)$65,018  $61,774        Total Debt and Net Debt      The Company's total debt and net debt are presented below, which are non-GAAP measures that management believes are useful for assessing the Company's debt profile. Total debt is defined as debt, finance and operating lease liabilities and pension obligations, and net debt is defined as total debt, net of unrestricted cash and short-term investments.     Total Debt and Net Debt (at end of period) September 30, 2026  (in millions)     Debt and finance leases $29,635 Operating lease liabilities  6,639 Pension obligations  92 Total debt  36,366 Less: cash and short-term investments  8,287 Net debt $28,079      Corporate Communications
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Axxcess Wealth Management LLC trimmed its stake in shares of Procter & Gamble Company (The) (NYSE:PG – Free Report) by 38.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,418 shares of the company’s stock after selling 33,301 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Procter & Gamble were worth $7,906,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ellis Investment Partners LLC grew its holdings in Procter & Gamble by 0.7% during the 3rd quarter. Ellis Investment Partners LLC now owns 8,816 shares of the company’s stock valued at $1,281,000 after buying an additional 64 shares in the last quarter. Clark Wealth Partners lifted its holdings in shares of Procter & Gamble by 20.6% in the third quarter. Clark Wealth Partners now owns 387 shares of the company’s stock worth $56,000 after buying an additional 66 shares in the last quarter. KLCM Advisors Inc. lifted its holdings in shares of Procter & Gamble by 0.9% in the first quarter. KLCM Advisors Inc. now owns 7,890 shares of the company’s stock worth $1,140,000 after buying an additional 70 shares in the last quarter. Midwest Professional Planners LTD. lifted its holdings in shares of Procter & Gamble by 2.6% in the second quarter. Midwest Professional Planners LTD. now owns 2,799 shares of the company’s stock worth $410,000 after buying an additional 70 shares in the last quarter. Finally, Legacy Solutions LLC boosted its position in shares of Procter & Gamble by 3.8% in the second quarter. Legacy Solutions LLC now owns 1,928 shares of the company’s stock valued at $283,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insiders Place Their Bets In related news, CFO Andre Schulten sold 3,914 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $145.34, for a total value of $568,860.76. Following the sale, the chief financial officer directly owned 65,618 shares of the company’s stock, valued at $9,536,920.12. This trade represents a 5.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Matthew Janzaruk sold 359 shares of Procter & Gamble stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $145.24, for a total transaction of $52,141.16. Following the sale, the chief accounting officer owned 1,271 shares of the company’s stock, valued at approximately $184,600.04. The trade was a 22.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,135 shares of company stock valued at $2,189,970 over the last three months. Corporate insiders own 0.23% of the company’s stock.

Procter & Gamble Price Performance Shares of NYSE PG opened at $156.97 on Thursday. The firm has a market capitalization of $364.58 billion, a P/E ratio of 23.71, a P/E/G ratio of 3.96 and a beta of 0.39. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $147.65 and its two-hundred day simple moving average is $146.83. Procter & Gamble Company has a twelve month low of $137.62 and a twelve month high of $167.25. Procter & Gamble (NYSE:PG – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $21.20 billion for the quarter, compared to analysts’ expectations of $21.38 billion. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, equities analysts anticipate that Procter & Gamble Company will post 6.98 EPS for the current fiscal year.

Procter & Gamble Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 23rd will be given a $1.0885 dividend. This represents a $4.35 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, October 23rd. Procter & Gamble’s dividend payout ratio is 65.71%.

Analysts Set New Price Targets PG has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price objective on shares of Procter & Gamble from $177.00 to $179.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Bank of America decreased their target price on shares of Procter & Gamble from $170.00 to $166.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Barclays increased their target price on shares of Procter & Gamble from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Citigroup increased their target price on shares of Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, October 9th. Finally, BMO Capital Markets raised their price target on shares of Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Fourteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.20.

Check Out Our Latest Stock Report on Procter & Gamble

Procter & Gamble News Roundup Here are the key news stories impacting Procter & Gamble this week:

Positive Sentiment: Procter & Gamble’s dividend remains a key support for the stock. The company recently recorded its 70th consecutive annual dividend increase, reinforcing its appeal to income-focused investors, particularly while interest rates remain elevated. The Ultimate Dividend Growth Stock to Buy With $100 Right Now Positive Sentiment: Royal Bank of Canada reaffirmed its “outperform” rating and maintained a $166 price target, implying additional upside from the referenced trading level. Benzinga analyst-rating report Neutral Sentiment: Investors are comparing PG’s dependable profitability and cash flow from essential household products with higher-risk consumer brands such as Nike. This supports PG’s defensive profile but does not provide a new earnings catalyst. Nike vs. Procter & Gamble Negative Sentiment: Procter & Gamble expects only 1% to 3% organic sales growth, raising concerns that the company’s large brands may be struggling to generate stronger underlying demand. Procter & Gamble Expects 1% to 3% Organic Growth Negative Sentiment: The earnings preview identifies a central risk: recovering product volumes could be offset by pricing headwinds, potentially limiting revenue growth and margins. Procter & Gamble Earnings Preview Negative Sentiment: Options-market activity indicates traders are positioned for PG shares to decline following the earnings release, reflecting elevated near-term uncertainty. Barchart Earnings Analysis Procter & Gamble Profile (Free Report)

Procter & Gamble Company (NYSE: PG) is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio includes personal health and grooming products, beauty and skin care items, baby, feminine and family care products, fabric and home care products, and oral care products.

The company’s well-known brands include Pampers, Tide, Gillette, Crest, Oral-B, Head & Shoulders, Pantene, Olay, Old Spice, Dawn, Febreze and Mr.

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Procter & Gamble on Thursday reported quarterly earnings and revenue that beat analysts' expectations, fueled by growing demand for its laundry detergent and home care products.

Shares of the company rose more than 2% in premarket trading.

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Earnings per share: $2.00 adjusted vs. $1.88 expectedRevenue: $23.3 billion vs. $22.8 billion expectedP&G reported fiscal first-quarter net income attributable to the company of $4.73 billion, or $1.97 per share, down from $4.75 billion, or $1.95 per share, a year earlier.

Excluding restructuring costs and other items, the company earned $2 per share.

Net sales rose 4% to $23.3 billion.

P&G reported volume growth of 2.4%, a strong start for its new fiscal year. Like many consumer companies, P&G has seen demand for its products weaken as shoppers have become more value conscious.

Executives have previously said that consumers are now using every last drop of shampoo or laundry detergent, and value packs have become more popular. In fiscal 2026, P&G reported just one quarter of volume growth.

P&G is still seeing signs of a bifurcated economy, CFO Andre Schulten said on CNBC's "Squawk Box" on Thursday. High-income consumers are willing to trade up to new products, even a $30 shampoo, while low-income consumers are trying to make brands like Tide and Pampers work for their tight budgets.

The company has tried to address both ends of the spectrum with promotional pricing, new pack sizes and product innovation that can command higher prices.

P&G's top performing division was fabric and home care, which includes brands like Tide and Febreze. The segment's volume rose 4.3% in the quarter.

The company's baby, feminine and family care segment and its beauty business both reported volume growth of more than 2%.

P&G's grooming division saw volume shrink 0.4% in the quarter. The segment includes Gillette and Venus razors.

The company's health care business was the laggard of the portfolio this quarter. Its volume fell 2.9% as demand for oral health care products, like Crest toothpaste, and personal health care items, like Pepto-Bismol, shrank.

The company is expecting continued "geopolitical and economic challenges," but P&G is on track to meet its guidance, CEO Shailesh Jejurikar said in a statement.

For fiscal 2027, P&G reiterated its forecast for core earnings per share in a range of $6.89 to $7.11. The company is now projecting all-in sales growth in the range of 2% to 4% compared with the prior year, up from its prior outlook of 1% to 3%. The change reflects its acquisition of supplements brand Thorne, which closed on Oct. 1.

Axxcess Wealth Management LLC raised its stake in shares of GE Aerospace (NYSE:GE – Free Report) by 16.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,388 shares of the company’s stock after buying an additional 3,666 shares during the quarter. Axxcess Wealth Management LLC’s holdings in GE Aerospace were worth $7,928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GE. Burkett Financial Services LLC raised its position in shares of GE Aerospace by 28.9% in the 2nd quarter. Burkett Financial Services LLC now owns 125 shares of the company’s stock valued at $47,000 after acquiring an additional 28 shares during the period. BOK Financial Private Wealth Inc. boosted its stake in GE Aerospace by 3.2% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 960 shares of the company’s stock worth $359,000 after acquiring an additional 30 shares during the last quarter. Gradient Investments LLC boosted its stake in GE Aerospace by 4.4% during the 2nd quarter. Gradient Investments LLC now owns 765 shares of the company’s stock worth $286,000 after acquiring an additional 32 shares during the last quarter. Kinloch Capital LLC grew its holdings in GE Aerospace by 3.1% during the second quarter. Kinloch Capital LLC now owns 1,079 shares of the company’s stock valued at $403,000 after purchasing an additional 32 shares during the period. Finally, United Community Bank grew its holdings in GE Aerospace by 10.1% during the second quarter. United Community Bank now owns 361 shares of the company’s stock valued at $135,000 after purchasing an additional 33 shares during the period. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling at GE Aerospace In other news, SVP Mohamed Ali sold 8,096 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $353.71, for a total value of $2,863,636.16. Following the completion of the transaction, the senior vice president owned 20,666 shares in the company, valued at $7,309,770.86. This represents a 28.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

GE Aerospace Trading Down 1.4% NYSE:GE opened at $295.62 on Thursday. GE Aerospace has a fifty-two week low of $268.91 and a fifty-two week high of $388.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.67. The stock has a market capitalization of $306.73 billion, a PE ratio of 38.94, a price-to-earnings-growth ratio of 2.16 and a beta of 1.38. The business’s 50-day simple moving average is $325.95 and its 200-day simple moving average is $328.95. GE Aerospace (NYSE:GE – Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The business had revenue of $13.29 billion during the quarter, compared to analysts’ expectations of $12.88 billion. During the same period in the prior year, the business earned $1.66 EPS. GE Aerospace’s revenue for the quarter was up 24.7% compared to the same quarter last year. Sell-side analysts expect that GE Aerospace will post 8.00 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Monday, October 5th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.88 dividend on an annualized basis and a yield of 0.6%. GE Aerospace’s payout ratio is presently 22.14%.

GE Aerospace News Summary Here are the key news stories impacting GE Aerospace this week:

Positive Sentiment: Guidance was raised again. GE now expects fiscal 2026 adjusted EPS of $8.00–$8.10, above the $7.92 consensus and up from its previous $7.65–$7.85 forecast. The company also lifted its revenue-growth outlook to approximately 19%–20%, operating-profit guidance to $10.9–$11.0 billion, and free-cash-flow guidance to $9.1–$9.4 billion. GE Aerospace raises 2026 profit forecast Positive Sentiment: Commercial services remain the key growth engine. GE beat third-quarter estimates with adjusted EPS of $2.25 versus $2.01 expected and revenue of $13.29 billion versus $12.88 billion expected. Orders rose 49% to $19 billion, while strong engine-repair, spare-parts, and maintenance demand is supporting expectations for low-double-digit services growth in 2027. GE Aerospace Q3 earnings call highlights Positive Sentiment: Long-term aftermarket demand looks resilient. Delayed aircraft deliveries, aging fleets, and airline fuel pressures could encourage carriers to keep existing aircraft in service longer, supporting GE’s sizable services backlog and high-margin maintenance business. GE also reported that an AI tool reduced technical-record processing time by about 25%, potentially improving engine turnaround and availability. Neutral Sentiment: Analyst sentiment remains mixed. UBS raised its target to $380, while JPMorgan, RBC, and Susquehanna lowered targets but retained bullish ratings. Citi described the stock as an attractive entry point, highlighting strong operating trends despite recent post-earnings weakness. Negative Sentiment: Near-term profitability concerns overshadowed the beat. Management expects GE9X production ramp-up costs to create an approximately $300 million profit drag in 2027. Investors are also monitoring margin pressure, supply-chain constraints, spare-parts backlogs, fuel-related airline risks, and lower operating cash flow. Negative Sentiment: Valuation remains demanding. Commentary pointed to a premium valuation after a strong multiyear run, while BNP Paribas Exane cut its target to $280 and assigned an underperform rating. The combination of elevated expectations and concerns about future costs helps explain why GE stock decreased even after the earnings beat. Analyst Upgrades and Downgrades Several equities research analysts have commented on the stock. TD Cowen reaffirmed a “buy” rating and issued a $380.00 target price (up from $330.00) on shares of GE Aerospace in a research note on Monday, July 13th. Guggenheim set a $380.00 target price on shares of GE Aerospace in a report on Wednesday. Vertical Research reissued a “buy” rating and set a $400.00 price target on shares of GE Aerospace in a research report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $375.00 price target (down from $400.00) on shares of GE Aerospace in a research report on Wednesday. Finally, Melius Research set a $350.00 price target on shares of GE Aerospace and gave the company a “hold” rating in a report on Monday, September 14th. Seventeen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $375.62.

Check Out Our Latest Stock Report on GE

GE Aerospace Company Profile (Free Report)

GE Aerospace (NYSE: GE) is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.

GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.

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