Vincent Van Code tvrdí, že CLARITY Act by mohl výrazně podpořit adopci XRP, protože by do federálního práva přenesl jasnější klasifikaci digitálních aktiv. Současná nejistota podle něj stále brzdí velké instituce.
Software developer Vincent Van Code believes the proposed CLARITY Act could have a bigger impact on XRP adoption than many people expect.
He argues that, although XRP’s legal status is clearer today, important regulatory uncertainty still remains.
In a post on X, Van Code said the 2023 district court ruling in the SEC’s case against Ripple significantly reduced legal uncertainty. Notably, the court found that XRP sales on secondary markets are not securities.
He said the ruling has already encouraged more institutional activity. It has supported the expansion of Ripple’s On-Demand Liquidity (ODL) corridors, bank pilot programs, XRP exchange-traded fund (ETF) filings, and broader custody support.
Court Ruling Reduced Risk, but Uncertainty Remains Van Code argued that the Ripple decision is still only a federal district court ruling, not a federal law. Because of that, he said, future legal and regulatory challenges remain possible.
He noted that the SEC could take different positions in future enforcement actions. Future court decisions or changes in administration could also narrow or revisit the ruling.
According to Van Code, this uncertainty continues to concern large financial institutions. Many of them require clear statutory guidance before committing significant capital or integrating digital assets into core financial products.
CLARITY Act Could Encourage More Institutions Van Code said the CLARITY Act is designed to address this issue by putting digital asset classifications into federal law.
He added that banks and traditional financial institutions generally follow conservative compliance standards. As a result, many remain hesitant to hold large XRP positions or build major products based only on a court ruling.
Instead, some institutions have limited their XRP involvement to lower-risk activities. These include non-custodial services, pilot programs, and experimental use cases.
If passed, the CLARITY Act could remove much of the remaining regulatory uncertainty that risk-averse institutions continue to cite. Van Code believes this could support broader institutional adoption of XRP.
However, he emphasized that this is his personal analysis. He did not suggest that the legislation would necessarily have a direct impact on XRP’s market price.
CLARITY Act Advances in Senate A new draft of the Digital Asset Market Clarity Act is circulating in the Senate as lawmakers make a final push to pass crypto market structure legislation before the August recess.
The latest draft includes a controversial ethics provision. It would bar the president and other senior government officials from holding direct crypto investments until 2029. The Department of Justice would be responsible for enforcing the rule.
Republicans say the provision reflects an agreement with President Donald Trump. However, many Democrats argue the restriction does not go far enough. Several have not yet committed to supporting the bill.
Beyond the ethics measure, the legislation would expand consumer protections and clarify how digital assets are regulated. It would also establish rules for crypto exchanges, support tokenized securities, and preserve protections for decentralized finance (DeFi) developers. Developers who do not control customer funds would remain exempt from money transmitter rules.
Republican leaders are expected to bring the bill to the Senate floor soon. However, it will likely need at least 10 Democratic votes to clear the Senate’s 60-vote threshold.
With Congress set to begin its summer recess in August, the coming weeks are the bill’s best opportunity to advance.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
LayerZero a Keeta spolupracují na nativních převodech tokenizovaných bankovních vkladů mezi Ethereum, Solana, Base a vlastní sítí Keeta. Vklady jsou kryté v poměru 1:1 skutečným bankovním vkladem a mají zůstat v souladu s bankovní regulací.
Tokenized real-world assets have been the crypto industry’s favorite buzzword for two years running. Now someone is trying to do it with the most boring financial instrument imaginable: your bank deposit.
LayerZero, the omnichain messaging protocol that connects over 70 blockchains, has partnered with Keeta, a Layer-1 chain built for payments and fiat interoperability, to enable native cross-chain transfers of tokenized bank deposits. The integration spans Ethereum, Solana, Base, and Keeta’s own network.
What tokenized bank deposits actually are Think of a tokenized bank deposit as a digital twin of the dollars sitting in your checking account. Each token is backed 1:1 by an actual deposit at a regulated bank, retaining the protections and compliance features you’d expect from traditional banking. The difference is that these tokens can move on-chain, 24/7, across multiple networks.
This matters because stablecoins, for all their growth, exist in a regulatory gray zone that makes traditional financial institutions nervous. Tokenized deposits, by contrast, are designed to sit squarely within existing banking frameworks. They’re regulated. They’re backed. And they potentially carry the same federal insurance protections as the deposits behind them.
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The distinction is subtle but significant. Stablecoins like USDC are liabilities of the issuer (Circle, in that case). Tokenized deposits remain liabilities of the bank itself. For institutional players and regulators, that’s a meaningful difference in risk profile.
How LayerZero and Keeta make it work LayerZero’s role here is straightforward but critical. Its messaging protocol allows these tokenized deposits to move natively between chains rather than relying on wrapped assets or centralized bridges. The protocol is currently live on Solana’s mainnet beta and connects with Ethereum, Base, Avalanche, Polygon, Arbitrum, Optimism, and BNB Chain, among others.
Native transfers matter because wrapped tokens introduce counterparty risk. Every time you wrap an asset to bridge it, you’re trusting the bridge operator to actually hold the underlying token. LayerZero’s approach lets the asset move without that intermediary step, which is a big deal when the asset in question is supposed to represent insured bank deposits.
Keeta brings the payments infrastructure to the table. The Layer-1 blockchain claims to support millions of transactions per second with sub-second settlement times. Keeta’s native token is KTA, while LayerZero operates with its ZRO utility and governance token.
Why this partnership matters for the broader market Investors should pay attention to the competitive dynamics here. JPMorgan has been experimenting with tokenized deposits through its Onyx platform. Citigroup has run pilots.
No specific transaction volumes or total value locked figures are available for the partnership yet, which means the market is pricing this on potential rather than proven traction.
One risk worth flagging: the success of tokenized deposits depends heavily on banks actually participating. LayerZero and Keeta can build the pipes, but someone has to turn on the water. The partnership creates the technical capability for cross-chain deposit transfers, but adoption will ultimately be driven by whether regulated financial institutions see enough demand and enough regulatory clarity to commit.
For traders watching the ZRO and KTA tokens, the near-term catalyst is clear. Every new institutional partnership or bank integration announcement will likely move these assets. Given that global bank deposits measure in the tens of trillions, even capturing a fraction of that flow would be transformative for any protocol involved.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Beefy Finance spustila na Ethereum mainnetu Cowcentrated Liquidity Manager, který automatizuje správu koncentrované likvidity na Uniswap V3. Cílí na páry jako AAVE-WETH, UNI-WETH a LINK-WETH.
Beefy Finance has deployed its Cowcentrated Liquidity Manager, or CLM, on the Ethereum mainnet. The product automates the notoriously tedious process of managing concentrated liquidity positions on Uniswap V3, targeting blue-chip pairs like AAVE-WETH, UNI-WETH, and LINK-WETH.
How the CLM actually works Concentrated liquidity, for those who haven’t been deep in the DeFi weeds, is the innovation Uniswap V3 introduced that lets liquidity providers focus their capital within specific price ranges rather than spreading it across the entire price curve. In English: instead of deploying $10,000 across every possible price from zero to infinity, you pick a narrower band where trading actually happens. Capital efficiency goes way up, but so does the management burden.
Beefy’s CLM pools user deposits together into aggregated positions. It then automates three critical functions: daily compounding of trading fees back into the position, range resets every six hours, and position rebalancing that avoids selling tokens during the adjustment process.
That last detail matters more than it sounds. Many automated liquidity managers rebalance by selling one token to buy the other, which can trigger taxable events and create MEV extraction opportunities for bots. Beefy’s approach redisposes positions into 50:50 allocations alongside single-sided “alt” positions, keeping liquidity active while reducing impermanent loss exposure relative to traditional automated solutions.
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When users deposit into a CLM vault, they receive cowTokens representing their stake in the pooled position.
Two years of track record, now on Ethereum The protocol has been running these vaults across various blockchains for nearly two years, managing hundreds of millions in total value locked without any recorded failures. The Ethereum mainnet launch is less of an experiment and more of a graduation ceremony.
The blue-chip pairs Beefy is targeting—AAVE-WETH, UNI-WETH, and LINK-WETH, along with WBTC/WETH and stablecoin pairs like USDC and USDT—represent some of the most actively traded combinations on Uniswap V3.
The 9.5% performance fee undercuts the market average for automated liquidity management products, which sits around 10%.
What this means for liquidity providers For retail liquidity providers, the value proposition is straightforward. You deposit into a vault, receive cowTokens, and the protocol handles range management, fee compounding, and rebalancing.
The impermanent loss mitigation aspect deserves particular scrutiny from investors. Beefy’s approach of using single-sided alt positions alongside standard 50:50 allocations is designed to reduce this exposure, though liquidity providers should understand that no mechanism eliminates impermanent loss entirely.
The risk factors include smart contract risk, dependency on Uniswap V3’s continued operation, and the inherent volatility of the underlying assets. A 9.5% performance fee also means Beefy only earns when depositors earn, which aligns incentives in the right direction, but doesn’t eliminate the possibility of periods where yields are thin or impermanent loss exceeds fee income.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SpaceX po úspěšném vypuštění Starshipu může čelit obrovské potřebě kapitálu: Morgan Stanley odhaduje záporný volný peněžní tok až do roku 2035, průměrný roční cash burn 84 miliard USD v letech 2027 až 2034 a dodatečné financování kolem 700 miliard USD.
Space Exploration Technologies (SPCX -1.08%) had to abort its 13th Starship test flight after some of its engines failed to ignite. Starship is SpaceX's fully reusable super-heavy-lift vehicle, and once it's ready to operate commercially, it could significantly reduce the cost of putting payloads into space, such as Starlink satellites or orbital data center satellites. Getting it off the ground (pun intended) will be key to the company achieving revenue growth and earnings that meet the market's high expectations.
SpaceX will have another go at the Starship test launch, and many more tests and launches will come over the next few years. A single aborted launch does not significantly impact the company's long-term viability.
The bigger risk to SpaceX and its investors involves what will happen if it successfully brings Starship into service: The company will need to raise massive amounts of capital over the better part of the next decade, even based on some of the most bullish outlooks for the business.
Image source: Getty Images.
This SpaceX bull just highlighted a major risk to the stock Morgan Stanley analysts have put a $300 price target on SpaceX stock. They cite its "near-monopoly launch economics," which will enable its satellite connectivity and AI businesses to scale up at a cost advantage.
Indeed, SpaceX can already launch its low earth orbit satellites for Starlink at a lower cost than any rival. And its technology also enables it to launch rockets at a higher cadence than anyone else. It can build faster and cheaper than anyone in the rocket launch industry.
But SpaceX is competing with terrestrial telecom companies and data centers. That's why Starship, which can carry much larger payloads and can be rebuilt and relaunched faster than SpaceX's current Falcon rockets, will be essential to scaling the business further.
Morgan Stanley sees Starship opening the door to serious revenue growth, but it will also require substantial capital to scale that business to the levels its analysts estimate. In fact, the analysts don't expect SpaceX to produce positive free cash flow until 2035. They estimate the company's average cash burn at $84 billion per year between 2027 and 2034, with capital expenditures peaking in 2031 at $300 billion.
In other words, SpaceX will need to raise about $700 billion in additional capital. "If debt markets cannot absorb this financing need, SpaceX may need to issue equity, reduce growth investment, or slow deployment," lead analyst Adam Jonas wrote in his note to investors.
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Importantly, SpaceX isn't the only tech company with significant financial demands. We've seen the major hyperscalers issue both debt and equity this year to raise cash to fund their AI data center build-outs. Meanwhile, the Federal Reserve is considering raising interest rates this year due to elevated inflation.
As a result, the cost of capital is rising. That could mean SpaceX will have to pay higher interest rates on whatever bonds it issues. Or, if the bond market cannot absorb another $700 billion of SpaceX's debt, its stock price will likely decline as it dilutes shareholders by raising funds via new equity issues.
The other option would be for SpaceX to raise less capital and slow its Starship, Starlink, and orbital data center build-outs. But that will lead to slower growth and, subsequently, a lower stock price.
SpaceX's capital requirements are a huge overhang on the stock, no matter how it raises that cash. Investors need to be aware of that risk, even if they're bullish on the technology.
Apple v roce 2026 vzrostl o 22 % a obchoduje se na maximech, ale jeho P/E 39,5 je blízko 18letého maxima. Tržby ve 2Q 2026 stouply meziročně o 16,6 % a zředěný EPS o 21,8 %.
Apple's (AAPL -1.55%) measured approach to artificial intelligence (AI), avoiding spending massive amounts of capital in this area like its big tech peers, appears to be a winning strategy from the market's point of view. Shares have climbed 22% in 2026 (as of July 20). They trade in record territory.
Should investors buy this "Magnificent Seven" stock right now?
Image source: The Motley Fool.
Investors might want to think twice about purchasing this business. That's because Apple shares aren't cheap.
The current price-to-earnings ratio of 39.5, which is near an 18-year high, indicates heightened investor enthusiasm. This adds greater downside risk should the business report financial results that disappoint investors.
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The market clearly has a favorable view of this company, though. Apple's financial performance has been superb. It reported 16.6% year-over-year revenue growth in Q2 2026 (ended March 28), with diluted earnings per share rising 21.8%. Demand for the latest iPhone 17 family has been off the charts, supporting the powerful ecosystem that drives customer stickiness.
Perhaps most importantly, Apple has stayed away from the unprecedented capital expenditure (capex) cycle that's defining the AI boom. Its capex totaled just $4.3 billion in the first six months of fiscal 2026.
Consequently, free cash flow remains robust. This gives the leadership team the ability to continue returning incredible amounts of capital to shareholders, primarily through stock buybacks.
Investors should keep Apple on their watch list, but wait for a better valuation.
Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.
Meta čeká výsledky za 2. čtvrtletí 29. července; analytici odhadují EPS 7,18 USD a tržby 60,22 miliardy USD. Akcie jsou pod tlakem a obchodují 2,76 % níže na 609,82 USD.
Meta Platforms stock is under selling pressure. Why are META shares declining? Earnings Preview & HistoryMeta is scheduled to report second-quarter earnings on July 29. Analysts estimate EPS of $7.18 along with revenue of $60.22 billion. For the prior quarter, Meta Platforms reported EPS of $7.31, beating the consensus estimate of $6.67. The company also posted revenue of $56.31 billion, exceeding the consensus estimate of $55.54 billion.
Meta Platforms has beaten EPS estimates in eight consecutive quarters. Over the last four quarters, the company has averaged an EPS surprise of 0.12% and a revenue surprise of 0.03%.
What To WatchInvestors will be watching Meta’s family-of-apps user trends for early signs that Europe’s youth-access restrictions are affecting engagement, since even small usage shifts can ripple into ad inventory and pricing. Advertising revenue growth relative to pricing and impressions is another key area to track, given the $60.22 billion revenue target hinges on strong ad demand alongside Reels and AI-driven discovery.
Updates on AI monetization, including Advantage+ performance and returns on AI infrastructure spending, will also be closely followed as the market focuses on the gap between AI investment and results.
A Death Cross Still Casts a Shadow Over Meta StockMeta is trading 0.8% below its 20-day SMA ($615.93) and 0.9% below its 100-day SMA ($616.32), while holding 0.8% above its 50-day SMA ($606.09). That "tug-of-war" positioning often produces choppy trade, and it helps explain why the stock can feel heavy on down-futures mornings even if the longer trend isn’t breaking.
RSI is the cleaner momentum read right now: at 51.71, it’s basically neutral, which fits a stock that’s consolidating rather than trending hard. In plain terms, RSI helps gauge whether buying or selling has gotten stretched; near-50 readings usually mean neither side has clear control.
The bigger-picture trend is still mixed: the 20-day SMA is above the 50-day SMA (a near-term bullish tilt), but the death cross from December 2025 (50-day SMA below the 200-day SMA) keeps the longer-term trend filter cautious. Zooming out, the stock remains 4.4% below its 200-day SMA ($639.20), and that overhead area can act like "gravity" on rebounds.
From a levels standpoint, traders will likely keep an eye on nearby pivots:
Key Resistance: $643.00 — a nearby round-number zone that also sits close to the 200-day moving-average area, where rebounds can stall Key Support: $577.00 — a nearby prior demand zone that sits well above the $520.26 52-week low, but would matter if selling pressure builds Analyst Consensus & Recent ActionsThe stock carries a Buy rating with an average price forecast of $820.81. Recent analyst moves include:
Raymond James: Strong Buy (Raises Target to $850.00) (July 21) Wells Fargo: Overweight (Raises Target to $835.00) (July 21) Rothschild & Co: Buy (Raises Target to $1000.00) (July 21) Meta Shares SlipMETA Price Action: At the time of publication, Meta shares are trading 2.76% lower at $609.82, according to data from Benzinga Pro.
Image via Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Meta v 1. čtvrtletí 2026 zvýšila kapitálové výdaje na 18,997 mld. USD a celoroční výhled na 125 až 145 mld. USD. Tržby přesto vzrostly o 33,08 % na 56,311 mld. USD a volný peněžní tok zůstal kladný na 12,386 mld. USD.
I keep building a position in Meta Platforms (NASDAQ:META | META Price Prediction), and every quarter the case for adding more gets stronger, not weaker. The bear thesis I heard for eighteen months, that AI capital spending would eat the margins alive, has now been tested against real numbers. The numbers won.
The Capex Panic Was Priced in Fear Q1 2026 was the quarter the argument should have broken. Meta spent $18.997 billion on capex, up 46.8% year over year, and raised full-year guidance to $125 to $145 billion. And yet revenue grew 33.08% to $56.311 billion, operating income climbed 30.29%, and free cash flow stayed positive at $12.386 billion. Operating margin held at 41%. Those are the numbers of a company compounding through its investment cycle.
The reason the pie does not shrink is the whole game. Meta has kept everyday operating costs flat by cutting non-core corporate layers, freezing traditional infrastructure, and executing deep workforce reductions, funneling the freed capital into GPUs and data centers. Those hardware purchases are booked as capex, so the cash goes out immediately but hits the income statement gradually as depreciation over a 4-to-5-year useful life. By the time those charges arrive, AI-driven ad targeting has already delivered double-digit revenue growth that outpaces the creeping overhead. That is how you keep near-40% margins while spending like a utility.
Three Reasons the Compounding Case Holds First, monetization is accelerating alongside the spend. Ad impressions rose 19% year over year in Q1 2026 and average price per ad rose 12%. Family daily active people reached 3.56 billion. The business keeps finding more inventory and charging more for it.
Second, the returns on capital are what you would expect from a fortress. ROIC sits at 20.69%, ROE at 30.24%, and net profit margin at 30.08%. Debt to equity is 0.39. Interest coverage is 71x. There is no financial fragility here.
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Third, management is telling on themselves in a good way. Mark Zuckerberg said on the Q1 call, “Every sign that we are seeing in our own work and across the industry gives us confidence in this investment,” and pointed to more than one gigawatt of custom silicon developed with Broadcom plus AMD chips complementing the new NVIDIA systems. That is disciplined efficiency work.
Why Not Just Buy the Index? The reflexive alternative for most readers is an index proxy like the Invesco QQQ Trust (NASDAQ:QQQ). It is a fine holding. It is also a way to own a much smaller slice of exactly this story. After Meta’s Q1 2025 report, the stock’s 30-day return of 16.54% ran well ahead of QQQ’s 9.47%. Concentration in the specific compounder that owns Instagram, WhatsApp, and the entire ad stack pays for itself when the thesis works.
The Risk I Actually Watch Reality Labs lost $4.03 billion in Q1 2026 on $402 million of revenue. That segment is the scar on the story, and there are youth-related litigation trials scheduled in 2026 that may result in material losses. What keeps me buying anyway is that Family of Apps generated $55.909 billion in revenue in the same quarter. The core business can carry the moonshot for a long time.
Analysts covering the stock skew heavily bullish, with 49 Buy ratings, 8 Strong Buy, 6 Hold, and no Sell calls, against a consensus target of $822.69 versus a current $646.01. The thesis remains intact.
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Tesla uvedla, že rozšířila spolupráci se SpaceX o investici a novou rámcovou dohodu pro společné projekty včetně Terafab a Digital Optimus. Musk zároveň řekl, že Grok od SpaceX řídí technologický stack Tesla AI pro Digital Optimus.
The comments suggest SpaceX is becoming more than a technology partner—it is increasingly part of Tesla’s roadmap for artificial intelligence.
SpaceX’s Grok is Becoming Part of Tesla’s AI stackOne of the biggest revelations came when Musk described how Tesla’s Digital Optimus project works.
“SpaceX’s Grok, sort of the big model that is the manager of Digital Optimus and tells Digital Optimus what to do,” Musk said while explaining Tesla’s effort to build a software version of its humanoid robot.
According to Musk, Digital Optimus allows Tesla to train AI systems to operate computers in much the same way Full Self-Driving software learns to operate vehicles. Grok provides the higher-level instructions, while Tesla’s AI systems execute those tasks in real time before those capabilities are transferred to physical Optimus robots.
The comments offered one of Tesla’s clearest explanations yet of how it plans to combine large language models with autonomous robotics.
The Partnership Goes Beyond AIMusk said Tesla’s upcoming Cybercab will integrate Starlink connectivity, with plans to expand the satellite internet service to Tesla’s broader vehicle lineup where available. The goal is to ensure reliable connectivity for autonomous vehicles, particularly in areas where traditional cellular networks remain unreliable.
High-bandwidth connections could also enable passengers to stream entertainment or work while riding in autonomous vehicles.
Tesla also disclosed that it recently expanded its relationship with SpaceX through an investment and a new framework agreement, which executives said will support joint projects including Terafab and Digital Optimus.
A Bigger AI Ecosystem is EmergingThe collaboration doesn’t stop with software or connectivity.
Musk said Tesla’s proposed Terafab semiconductor initiative is aimed at developing advanced AI chips for Optimus, while also confirming SpaceX is involved in the effort. Separately, he described plans for AI “Megapods” that combine Tesla AI computers with conventional servers, allowing compute infrastructure to be deployed wherever electricity is available.
Taken together, the earnings call suggested Musk is building something larger than two separate companies sharing technology. Instead, Tesla increasingly appears to be leveraging SpaceX’s AI models, satellite network and engineering capabilities to accelerate its push into autonomous driving, robotics and AI infrastructure.
For investors, that could become one of the more important long-term takeaways from Tesla’s earnings. While quarterly results focused on vehicle sales and margins, Musk spent much of the call describing an ecosystem where SpaceX and Tesla are becoming increasingly interconnected as they pursue the next phase of AI development.
Photo Courtesy: Frederic Legrand – COMEO on Shutterstock.com
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Tesla ve 2. čtvrtletí zvýšila tržby o 26 % na 28,2 miliardy USD, zatímco čistý zisk klesl o 5 % na 1,1 miliardy USD. Prodeje aut zůstaly jádrem byznysu, ale firma dál tlačí AI, robotiku a robotaxi.
Tesla’s (NASDAQ: TSLA | TSLA Price Prediction) earnings showed that, at an extremely rapid pace, it has become two companies (at least). One makes and sells cars—the other gambles, often on what appears to be longshots, on AI and robotics. (Tesla does have an energy generation business which produced $3.1 billion, or 11% of the total, in the most recent quarter. It does not fit neatly into either silo.)
The proof that Tesla’s car business continues to be the revenue core is that at $20.5 billion, it was 73% of Tesla’s total revenue of $28.2 billion. Auto revenue was up 23% year over year in Tesla’s second quarter. Overall revenue rose 26%. Net income for the entire company was $1.1 billion, which was down 5% year over year.
Total vehicle deliveries were 480,126 in the quarter, up 25% year over year. Anyone who believes that Tesla’s car operations are in trouble is wrong. China sales may have been unstable over time. Tesla took a brutal beating in the EU last year, and lost the EV sales lead there to China’s BYD. However, this year, EU figures have gotten better. The US remains an EV graveyard, but Tesla is still the market leader, and what might have been major competitors like Ford (NYSE: F) have quit.
Tesla breaks out the status of what it calls its “robotics” operation. It reports that two facilities are under construction. One is in California, and the other is in Texas. Tesla reported, “The initial Optimus builds will be used in our Optimus Academy for training data collection and further functionality development. Additionally, we continued site development at Gigafactory Texas with building construction now in full swing.”
Tesla offered updates to its “robotaxi” business. It admitted that the effort is still in early stages, with wide-scale deployment contingent on both technological breakthroughs and regulatory approvals.
Capital expenditures jumped 142% to $5.8 billion from $2.4 billion in the same quarter last year. Part of the cost of the robotics business is AI training and development of hardware and software that make a robot a real robot (CEO Elon Musk has said that, in the future, the world will have billions of robots).
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The question is how the company actually gets broken apart. The self-driving parts of the auto business are really AI-based. The ultra-advanced autopilot business is growing rapidly. The system is called Full Self-Driving (Supervised). Tesla said “active FSD subscriptions” rose 56% in the quarter to 1.48 million. It does not function without a car, so it belongs with the auto operations. Similarly, the robotaxi business and its Cybercab are modes of transportation and, thus, cannot be separated from these car operations.
So what does that leave? Robotics and AI are what Musk says are the future of Tesla. That is at the core of the debate over Tesla’s valuation, which is $1.4 trillion. That makes it the 11th most valuable company in the world. The market caps of other major car companies are, in every case, a fraction of that.
Spin-outs and break-ups of public companies are meant as a way to unlock value that is locked because disparate businesses have been put together under one roof. Tesla should “unlock.” Let investors who want to invest in EVs and their software buy an EV stock. Let people who want to own a robotics company that relies on advanced AI features own a robotics company.
The challenge, of course, remains in the execution of such a split. While the automotive arm can provide the cash flow necessary to fund Musk’s more ambitious visions, the robotics side is what currently inflates Tesla’s staggering $1.4 trillion valuation. Once again, by separating them, the market would finally be forced to decide if the robotics venture is a revolutionary tech giant or a speculative longshot, all while allowing the car business to be judged on its industry-leading fundamentals.
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Alphabet v 1. čtvrtletí fiskálního roku 2026 zvýšil tržby segmentu Google Search & other na 60,40 miliardy USD, meziročně o 19 %, a tržby Google Cloud na 20,03 miliardy USD, o 63 %.
I keep hitting the buy button on Alphabet (NASDAQ:GOOGL | GOOGL Price Prediction) because the business behaves like a tollbooth on the entire internet, and every quarter the toll gets higher while the road gets wider. Warren Buffett appears to have arrived at the same conclusion. I got there first for my own account, and I am still adding.
The pitch is simple. Google Search is a self reinforcing flywheel. More queries feed better data, better data sharpens targeting, sharper targeting draws more advertising dollars, and those dollars fund the next turn of the wheel. Buffett views Alphabet’s moat through the search network flywheel and the capital scale that lets the company fund custom AI chips and global data centers straight out of cash flow. Smaller competitors cannot match that without crippling themselves. I want to own the tollbooth.
The Receipts Behind the Conviction Start with the flywheel itself. In the first quarter of fiscal 2026, Google Search & other revenue reached $60.40 billion, up 19%, and Pichai told shareholders “queries at an all time high”. That is a two decade old business still compounding at scale.
Then the second engine. Google Cloud revenue grew 63% to $20.03 billion, and backlog nearly doubled quarter on quarter to over $460 billion. Cloud growth has climbed from 32% to 34% to 48% to 63% across the last four quarters. Backlog of that size is a customer signing a promise to pay Alphabet years into the future.
The economics of this machine are what keep me buying. Return on equity sits at 38.9%, profit margin at 37.9%, and operating margin at 36.1%. EPS of $5.11 crushed the $2.63 consensus, the fourth consecutive beat. Over the trailing year, the stock is up 83.14%, and I am still buying because the P/E is 26.
Why Not Microsoft or Meta The obvious alternative is Microsoft (NASDAQ:MSFT). Azure is a real cloud competitor, but I pass because Microsoft trades at a price to sales ratio of 9.39 against Alphabet’s 10.17, yet Alphabet is compounding cloud revenue at 63% versus Microsoft’s 18.3% overall quarterly revenue growth. I am paying a similar sales multiple for faster growth and a wider consumer moat.
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Meta Platforms (NASDAQ:META) is the other name I hear. It trades at a P/E of 23, cheaper than Alphabet on paper. My problem is concentration. Meta’s revenue is essentially all advertising, with no cloud franchise to catch the enterprise AI wave. Alphabet has ads, cloud, YouTube, and Waymo. Waymo surpassed 500,000 fully autonomous rides per week. That optionality is free with the ticker.
The Real Risk The risk that keeps me awake is capital intensity. CapEx hit $35.67 billion in the quarter, up 107.44%, and 2026 guidance is $175 to $185 billion. Free cash flow fell 46.63% year over year to $10.12 billion. If AI demand disappoints, that spending becomes a stranded asset problem.
I stay long anyway because the backlog is real, operating cash flow still grew 26.67%, and the same capital scale that pressures near term free cash flow is the moat itself. Only a handful of companies on earth can write these checks from operating cash.
Alphabet owns the tollbooth, funds the next mile of road from the toll receipts, and pays me a dividend it just raised 5% to $0.22 while I wait. That is why the buy button stays warm.
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Amazon.com stock is trending lower. What’s pulling AMZN shares down? Earnings Preview & HistoryAmazon is scheduled to report second-quarter earnings on July 30. Analysts estimate EPS of $1.82 along with revenue of $196.02 billion. For the prior quarter, Amazon reported EPS of $2.78, beating the consensus estimate of $1.64. The company also posted revenue of $181.52 billion, exceeding the consensus estimate of $177.29 billion.
Over the last four quarters, Amazon has averaged an EPS surprise of 0.30% and a revenue surprise of 0.02%.
What To WatchInvestors will be watching AWS revenue growth and operating margin closely, since that’s the clearest signal of whether enterprise AI demand is actually boosting cloud profitability rather than just driving up capex and depreciation. Advertising revenue growth is another key figure to track, as it can help offset retail margin pressure and keep overall operating income moving in the right direction.
In North America and International retail, the focus shifts to operating income and fulfillment cost trends — if shipping and logistics costs start climbing again, they could quickly eat into any gains from stronger sales.
Analyst Consensus & Recent Actions The stock carries a Buy rating with an average price forecast of $320.10. Recent analyst moves include:
Wells Fargo: Overweight (Raises Target to $322.00) (July 21) Keybanc: Overweight (Raises Target to $335.00) (July 16) Wedbush: Outperform (Target $293.00) (July 16) A Tug-of-War Above the 200-Day AverageFrom a trend perspective, Amazon is in a "tug-of-war" zone: it’s trading 2.1% below the 20-day SMA ($243.61) and 4.8% below the 50-day SMA ($250.60), but it’s still 1.7% above the 200-day SMA ($234.46). That mix often reads as a pullback inside a longer uptrend, with the 200-day acting as the line bulls want to defend.
Momentum is also fairly balanced, with RSI at 47.59 (neutral), suggesting the stock isn’t stretched enough to force either capitulation selling or a snapback rally on momentum alone. In practice, that puts more weight on nearby levels and moving averages—especially whether price can reclaim the 20-day/50-day area on rebounds.
The moving-average structure is mixed: the 20-day SMA is below the 50-day SMA (a bearish near-term crossover), while the 50-day SMA remains above the 200-day SMA after the golden cross in May. Traders will often treat that as "long-term trend intact, short-term trend under pressure," which fits with the recent swing high in May followed by a swing low in June.
Key levels are fairly clean here, with overhead supply near the mid-$240s to around $250 and a more meaningful downside reference well below current price. A break and hold back above the 50-day area would improve the near-term picture, while losing the 200-day would raise the odds that the pullback is turning into something deeper.
Key Resistance: $249.50 — lines up closely with the 50-day SMA area ($250.60), a common spot where rebounds can stall Key Support: $225.00 — a nearby downside level traders may watch as a prior demand zone if the pullback accelerates Benzinga Edge RankingsBelow is the Benzinga Edge scorecard for Amazon, highlighting its strengths and weaknesses compared to the broader market:
The Verdict: Amazon’s Benzinga Edge signal reveals a growth-heavy profile with only moderate momentum, which fits a stock that can trend long-term but still chop around key moving averages in the short run. For traders, that often means waiting for either a reclaim of the $249.50 area or a cleaner dip toward support before pressing directional bets.
Amazon Shares Edge LowerAMZN Price Action: At the time of publication, Amazon shares are trading 3.11% lower at $237.24, according to data from Benzinga Pro.
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Microsoft za poslední rok klesl zhruba o pětinu na 390,34 USD, přestože čtyřikrát po sobě překonal odhady zisku. Trh trestá rostoucí capex, i když backlog dosáhl 627 miliard USD a tržby z cloudu vzrostly o 29 %.
At $390, Microsoft (NASDAQ:MSFT | MSFT Price Prediction) looks compelling to contrarians. The AI capital spending panic dragging the stock lower looks more like a setup than a warning sign. The stock has shed roughly a fifth of its value over the past year despite four straight earnings beats, giving contrarians a rare opening on a business whose contracted backlog is nearly doubling.
Microsoft sits at the center of enterprise AI adoption. Azure, Microsoft 365, and the restructured OpenAI partnership feed a single cloud franchise that produced $54.5 billion in Microsoft Cloud revenue last quarter, up 29% year over year. Shares have derated hard, sliding from $552.51 at the Q4 FY25 filing to $390.34, a trajectory that maps almost perfectly to escalating quarterly capex.
The Backlog Is Doing the Talking Commercial remaining performance obligations reached $627 billion, up 99% year over year. That is contracted revenue backed by signed customer commitments. Microsoft’s $190 billion planned calendar 2026 capex is building against signed obligations competitors do not hold.
Monetization is showing up. AI annual run rate hit $37 billion, growing 123%, while Azure ran at 40% growth and Copilot seats climbed 250% year over year. Amy Hood told analysts, “We remain confident in the return on these investments given higher demand signals and increasing product usage.” Return on equity of 33.28% and operating margin of 45.62% confirm spending has not broken profitability.
What the Capex Skeptics See The bear case is real. Q3 capex jumped to $30.88 billion, up 84.39%, and full-year FY25 free cash flow already declined 3.32% as reinvestment accelerated. At a P/E near 28 and P/FCF around 40, Microsoft is priced for the AI story to compound.
OpenAI-related losses widened to $3.1 billion in Q1 FY26 from $523 million a year earlier, and OpenAI is no longer exclusive to Azure for non-API products. More Personal Computing shrank 1%, and insiders have been net sellers across 33 recent transactions. If Azure decelerates below the high 30s, multiple compression accelerates.
Why Patience Has a Case Composite sentiment sits at 42.91, neutral with a 7-day decline of 19.38 points, and Polymarket assigns only a 44.5% probability that shares close above $390 by month-end. The next Azure growth print and Q4 capex disclosure land within days. A guide toward the “over $40 billion” quarterly capex range without matching revenue acceleration would validate the bear thesis. Confirmation of Azure holding 40% or expanding operating margin tips the picture the other way.
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The Numbers Behind the Setup Shares trade at $390.34, down 18.93% year to date and 22.13% over the past year. The S&P 500 gained 9.6% year to date and 18.85% over the same twelve months. The gap is roughly 40 points of relative underperformance during accelerating fundamentals.
Consensus analyst target sits at $557.79, implying 43% upside. The full-chain put/call ratio of 0.44 shows options traders are not positioned for further crash, and Polymarket puts 89.5% probability on a Q4 earnings beat.
At $390, the Contrarian Setup The path to price appreciation is mechanical. A $627 billion contracted backlog converts to revenue on schedule, and management has committed the capacity to service it. Hood said Microsoft expects “another year of double-digit revenue and operating income growth in FY ’27” and supply will “remain constrained at least through 2026.” Constrained supply against contracted demand creates a favorable pricing environment.
Buying a business earning a 33.28% return on equity with interest coverage above 53 times at a P/E in the high 20s reflects a market multiple for elite compounding on a stock that has already given back the froth. Reddit’s most engaged recent post asked whether “MSFT at $385 an absolute steal right now” and sustained bullish traction for nine days running.
The thesis breaks if Azure growth prints below the mid-30s, if capex intensity climbs without matching bookings, or if OpenAI losses meaningfully compress consolidated margins. None are visible in current data. The market is pricing spending as sin while the customer is signing the check, and that gap defines the contrarian opportunity.
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Microsoft vykáže výsledky za 4. čtvrtletí 29. července; analytici čekají EPS 4,23 USD a tržby 87,61 miliardy USD. Akcie jsou asi 11,2 % pod 200denním klouzavým průměrem.
Microsoft stock is trading at depressed levels. Where are MSFT shares going? Earnings Preview & HistoryMicrosoft is scheduled to report fourth-quarter earnings on July 29. Analysts estimate EPS of $4.23 along with revenue of $87.61 billion. For the prior quarter, Microsoft reported EPS of $4.27, beating the consensus estimate of $4.07. The company also posted revenue of $82.89 billion, exceeding the consensus estimate of $81.42 billion.
Microsoft has beaten EPS estimates in eight consecutive quarters. Over the last four quarters, the company has averaged an EPS surprise of 0.08% and a revenue surprise of 0.02%.
What to WatchInvestors will be watching Azure growth and AI contribution closely, since commentary on AI services mix, easing capacity constraints, or signs of re-acceleration will matter more than the consolidated revenue beat itself. Capex and forward infrastructure spending, including any signals from long-term purchase commitments, will also be closely tracked, as that’s where the market will handicap future margins.
Finally, Microsoft Cloud segment margins and operating leverage should draw attention, since the bull case hinges on AI revenue scaling faster than compute and data center costs.
From a trend perspective, Microsoft is sitting about 11.2% below its 200-day SMA ($437.53), which keeps the longer-term bias tilted bearish until the stock can reclaim that area. It’s also trading 3% below its 50-day SMA ($400.32) and 2.7% below its 100-day SMA ($399.23), so rallies are still running into overhead supply near the $400 zone.
Near-term, the stock is 1% above its 20-day SMA ($384.64), suggesting it has stabilized versus the last few weeks even if the bigger trend remains heavy. The moving-average structure is still a headwind, with the 20-day SMA below the 50-day SMA (bearish) and the death cross that formed in January (50-day SMA below the 200-day SMA) still in place.
Momentum is best read through RSI, which is at 49.10—basically neutral—implying the stock isn’t stretched enough to scream "capitulation" or "chase." RSI is a quick way to gauge whether recent buying or selling has become overdone, and right now it’s signaling a range-like tug-of-war rather than a clean trend day.
Key levels are tight enough to matter for swing traders watching the next directional break:
Key Resistance: $395.50 — a nearby ceiling that lines up with the stock’s struggle to get back above the $400 area and reclaim intermediate moving averages Key Support: $373.50 — a nearby floor that sits in the lower part of the recent range and closer to the stock’s June low zone than the current price Analyst Consensus & Recent Actions The stock carries a Buy rating with an average price forecast of $547.41. Recent analyst moves include:
Bernstein: Outperform (Maintains Target to $646.00) (July 22) Oppenheimer: Outperform (Maintains Target to $515.00) (July 22) Truist Securities: Buy (Maintains Target to $575.00) (July 22) Microsoft Shares Edges LowerMSFT Price Action: At the time of publication, Microsoft shares are trading 0.42% lower at $388.72, according to data from Benzinga Pro.
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Boeing vykázal v 1. čtvrtletí výnosy 22,22 miliardy USD, ale volný peněžní tok byl záporný 1,5 miliardy USD a divize Commercial Airplanes měla provozní marži -6,1 %.
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Boeing (NYSE:BA | BA Price Prediction) shares were last seen trading near $210, off 4.3% over the past week and 8.7% lower over the past year. Wall Street sees a turnaround worth buying: analysts carry a consensus price target of $270.08, with 78% of ratings bullish and only one strong sell in the mix. Reddit, meanwhile, is unmoved. Boeing’s aggregate sentiment score sits at 42, a neutral read that leans cautious.
Boeing’s Q1 report told the story fueling institutional optimism: $22.22 billion in revenue, up 14%, 143 commercial deliveries, and $6.95 billion of debt repaid in a single quarter, taking consolidated debt to $47.2 billion. Backlog reached $695 billion. Retail investors, however, are looking at the same filing and seeing a $1.5 billion free cash flow burn and a Commercial Airplanes segment still running at a 6.1% negative operating margin.
Why Boeing’s Reddit Crowd Stays Skeptical Discussion volume is thin: Boeing chatter clusters in r/stockmarket rather than the speculative corners of Reddit, and activity levels register as low outside a single Tuesday morning spike. The dominant thread over the past few days is a news post titled “Boeing asks US to intervene over record EU loan to Airbus,” which has drawn 556 upvotes and 98 comments. The framing, Boeing complaining about competitor subsidies rather than winning on product, sums up the retail mood.
What is keeping sentiment stuck near neutral:
Commercial Airplanes is still losing money at the segment level, with a negative 6.1% operating margin in Q1. Free cash flow swung back to a $1.5 billion outflow after two positive quarters, denting the recovery narrative. The 777X first delivery has slipped to 2027, and 737-7 and 737-10 certifications are still pending. Lockheed’s Steady Profits Sharpen the Contrast Defense peer Lockheed Martin (NYSE:LMT) runs a consistently profitable book while Boeing’s Defense, Space & Security unit only recently returned to positive territory at $233 million in operating earnings. That gap explains why retail investors treat Boeing as a “show me” story even as sell-side analysts lean in.
The Catalyst Boeing Needs The near-term test arrives fast. Polymarket traders assign a 65% probability that Boeing beats its next quarterly earnings, with the market resolving July 28, 2026. A clean quarter with positive cash flow would give the Reddit crowd something harder to ignore than a subsidy dispute with Airbus.
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American Airlines vykázala za čtvrtletí zisk 0,15 USD na akcii, nad odhadem 0,03 USD, a tržby 16,74 miliardy USD, také nad očekáváním. Zisk byl ale výrazně pod 0,95 USD na akcii před rokem.
American Airlines (AAL - Free Report) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +400.00%. A quarter ago, it was expected that this world's largest airline would post a loss of $0.45 per share when it actually produced a loss of $0.4, delivering a surprise of +11.11%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
American Airlines, which belongs to the Zacks Transportation - Airline industry, posted revenues of $16.74 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.22%. This compares to year-ago revenues of $14.39 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.
American Airlines shares have lost about 3.5% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for American Airlines?While American Airlines 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 American Airlines 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 $0.31 on $15.86 billion in revenues for the coming quarter and $0.57 on $62.71 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, Transportation - Airline is currently in the top 31% 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, Allegiant Travel (ALGT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 4.
This travel services company is expected to post quarterly earnings of $1.27 per share in its upcoming report, which represents a year-over-year change of +3.3%. The consensus EPS estimate for the quarter has been revised 103.3% higher over the last 30 days to the current level.
Allegiant Travel's revenues are expected to be $1.03 billion, up 49.2% from the year-ago quarter.
American Airlines Group ve 2. čtvrtletí zvýšila tržby o 16,3 % na rekordní úroveň, ale vyšší náklady na palivo zhoršují výhled. Firma nyní čeká ve 3. čtvrtletí upravenou ztrátu 0,70 až 0,10 USD na akcii.
Flight Path to Profits: American Airlines Bets on SpaceXAmerican Airlines Group NASDAQ: AAL reported record quarterly revenue in the second quarter of 2026, as executives said gains from commercial initiatives helped offset a sharp year-over-year increase in fuel costs.
Chief Executive Officer Robert Isom said the airline delivered revenue growth of more than 16% from a year earlier, with improvement across every region served and every cabin offered. He attributed the results to American’s four-part commercial strategy: improving the customer experience, growing the global network, driving premium revenue and leading in loyalty.
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Boarding Passes Now Being Issued for the Ultimate eVTOL Arbitrage“This outstanding broad-based revenue performance reflects the strength of our commercial strategy,” Isom said. He added that the quarter’s revenue performance helped offset nearly 50% of a $2.2 billion year-over-year increase in fuel expense.
The company ended the quarter with more than $11 billion in available liquidity, and Chief Financial Officer Devon May said American finished the period with $11.3 billion of liquidity. May said the airline expects to produce positive free cash flow for the full year at the midpoint of its current guidance and to end 2026 with lower net debt than at the start of the year.
Fuel Costs Pressure Outlook Sky Wars: United's Predator Play for AmericanFuel was the central challenge discussed on the call. May said second-quarter fuel expense increased more than $2.2 billion, or 83%, from a year earlier. He said fuel forecasts had worsened quickly in recent weeks, with expected third-quarter fuel expense rising more than $700 million since the beginning of July and nearly $230 million in the prior week alone.
Based on the forward curve as of July 21, American expects an average fuel price of about $3.75 per gallon in the third quarter, which would result in a $1.7 billion year-over-year increase in fuel expense for the quarter.
As a result, American now expects third-quarter capacity to rise 3% to 5% year-over-year, about two percentage points lower at the midpoint than originally planned. May said the company will continue to evaluate capacity based on fuel prices and demand trends.
The airline guided to a third-quarter adjusted loss per diluted share of $0.70 to $0.10. For the full year, American adjusted its guidance to a range between a loss of $0.65 and a profit of $0.65 per diluted share. Isom said the company expects full-year adjusted earnings to be breakeven at the midpoint despite an anticipated nearly $6 billion year-over-year fuel headwind.
Revenue Strength Broad-Based Across Regions Chief Commercial Officer Nat Pieper said total revenue increased 16.3% year-over-year in the quarter, reaching the high end of the airline’s initial guidance. He said all geographic regions exceeded the company’s initial expectations.
Domestic unit revenue increased nearly 11%, with Washington National, Dallas Fort Worth and Los Angeles cited as standouts. Atlantic unit revenue rose about 9%, led by London. Pacific unit revenue increased 15%, with Japan described as noteworthy. Latin America unit revenue rose about 7%, supported by a recovery in Mexico beach demand. Pieper said customer experience metrics also improved. Total Net Promoter Score increased five points year-over-year, and for on-time flights, NPS improved for the 15th time in 17 months. He also cited a 7% year-over-year improvement in the ACSI survey.
The airline plans to install Starlink high-speed Wi-Fi on its fleet beginning in 2027. Pieper said connectivity is increasingly important to customers and that such investments strengthen American’s competitive position.
Premium and Loyalty Remain Key Priorities American emphasized premium demand as a key driver of its strategy. Pieper said premium unit revenue increased more than 13% year-over-year, driven by strong leisure and corporate demand. Main cabin unit revenue increased nearly 9% and accelerated during the quarter.
In response to an analyst question, Pieper said premium revenue rose 19% in the quarter, compared with a 15% increase in non-premium revenue. He said premium accounts for nearly half of ticketed revenue on roughly 30% of seats. He also said nearly 60% of American’s revenue comes from households earning $150,000 or more, which he described as demand more likely to hold up during economic uncertainty.
The airline is expanding premium capacity through new Boeing 787-9 and Airbus A321XLR deliveries, as well as retrofit programs on 777-300ER, 777-200ER, A320 and A319 aircraft. Pieper said lie-flat and premium economy capacity grew nearly twice as fast as main cabin capacity during the quarter.
Corporate demand was another area of strength. Pieper said managed corporate revenue rose 26% from a year earlier, marking the fifth consecutive quarter of double-digit growth. In response to a media question about Southwest Airlines’ efforts to attract corporate customers, Pieper said American’s managed corporate revenue, small and medium business product and travel management company business were all growing, adding, “We’re not losing it.”
The AAdvantage loyalty program also posted growth. Pieper said enrollments increased more than 30% year-over-year in the second quarter, surpassing the record growth achieved in the first quarter. He said the largest enrollment gains occurred in New York City, Chicago and Los Angeles, with international growth also strong. Co-branded card spending across American’s Citi portfolio grew 8% year-over-year.
Network, Fleet and Balance Sheet Plans American executives said the airline is focused on improving hub performance and selectively growing its network. Pieper said a new bank structure at Dallas Fort Worth, implemented in April, has reduced systemwide misconnects by nearly 25% year-over-year and helped DFW unit revenue outperform the system average by about four points.
The airline also launched new routes from Philadelphia to Budapest and Prague, and from Dallas Fort Worth to Athens. Pieper said American resumed service to Venezuela with flights to Caracas and Maracaibo, describing the airline as the first U.S. carrier to do so.
May said American expects to take delivery of 48 new aircraft this year and continues to expect about $4 billion in capital expenditures for 2026. In response to an analyst question, he said 2027 capital expenditures are likely to be around $4.5 billion, while noting that some delivery schedules later in the decade still need smoothing.
On the balance sheet, May said American completed about $1.3 billion in incremental financings during the second quarter, bolstering liquidity and addressing its only meaningful 2027 maturity. He said the company’s longer-term goals remain reducing total debt to inside $35 billion, bringing net debt well inside $30 billion and achieving a double-B credit rating, which would require net debt to EBITDA inside three turns.
Isom closed by saying American remains focused on execution, customer service and long-term value creation. He said the company still has work to do but is seeing momentum from its strategy and expects additional progress in 2027 and beyond.
About American Airlines Group (NASDAQ:AAL)American Airlines Group Inc is a leading global airline holding company headquartered in Fort Worth, Texas. Formed in December 2013 through the merger of AMR Corporation (parent of American Airlines) and US Airways Group, the company operates one of the world's largest passenger and cargo networks. Its subsidiaries include American Airlines, which provides mainline service, and American Eagle, a network of regional carriers operating short- and medium-haul routes on behalf of the mainline carrier.
The company offers scheduled air transportation for passengers and cargo to more than 350 destinations in over 50 countries.
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Mastercard rozšířila platformu Mastercard In Control o nové bezpečnostní kontroly, přístup přes jedno API a rozšířené embedded platební možnosti pro firemní virtuální karty. Cílem je vyšší bezpečnost, přehlednost a škálovatelnost.
Mastercard has added new security controls, single application programming interface (API) access, and expanded embedded payments capabilities to its virtual card number platform, Mastercard In Control.
Together, these new features help enterprises and financial institutions manage virtual card programs with greater security, visibility and scale, the company said in a Thursday (July 23) press release emailed to PYMNTS.
The security controls include new Issuer Enforced Controls that allow issuers to set spend limits and other baseline guardrails when creating the virtual card number, and enhanced Clearing Controls that enable corporates and platforms to block invalid transactions, apply more precise controls and better manage payment timing, according to the release.
The new enhancements to the single-API front door, Commercial Connect API, include expanded card controls, simplified integration and accelerated access to end-to-end payment capabilities, the release said.
The expanded embedded payments capabilities provide a simpler, more unified corporate payment experience; reduce onboarding complexity for issuers, platforms and corporates; and features and expanded ecosystem gained through strategic partnerships and innovative use cases, per the release.
“As payments become more digitized and embedded into business workflows, expectations for performance, security and control are higher than ever,” Marc Pettican, global head of corporate solutions at Mastercard, said of the latest enhancements to Mastercard In Control. “We’re expanding our virtual card capabilities to deliver more unified and scalable experiences — helping partners simplify how they implement and scale virtual card programs with greater security, control and consistency.”
Card-based B2B payments scale most effectively when they align with existing workflows rather than asking supplier to change how they operate, Pettican told PYMNTS in an interview posted in January.
Pettican described Mastercard’s Commercial Connect API as “the one front door to Mastercard,” designed to link payment initiation, remittance data, reconciliation, consent and controls across platforms and acquirers. Virtual card rails were embedded from the outset, and support for additional B2B payment capabilities was set to be added over time.
When Mastercard and J.P. Morgan Payments announced in March that they launched a new virtual card in Europe that is designed to support traditional accounts payable needs in industries such as insurance, healthcare, travel and commercial real estate, Karen Ions, head of commercial card client management and delivery at J.P. Morgan Payments, said “virtual cards bring clarity, security and agility to the process.”
Johnson & Johnson oznámila pozitivní výsledky fáze 3 studie MonumenTAL-6 s TECVAYLI + TALVEY. Studie prokázala statisticky významné a klinicky významné zlepšení přežití bez progrese onemocnění i celkového přežití oproti standardní péči.
Investigational MonumenTAL-6 trial is the first and only Phase 3 study of a dual antigen, BCMA and GPRC5D targeting regimen in relapsed/refractory multiple myeloma Fifth positive Phase 3 study evaluating Johnson & Johnson's multiple myeloma T-cell therapy portfolio in second line, further strengthening the company's leadership and commitment to advancing immunotherapy-based regimens earlier in the treatment journey RARITAN, N.J., July 23, 2026 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ), a worldwide leader in multiple myeloma therapies, today announced positive topline results from the three-arm investigational Phase 3 MonumenTAL-6 study evaluating TECVAYLI® (teclistamab-cqyv) + TALVEY® (talquetamab-tgvs), a BCMA and GPRC5D dual antigen targeting regimen, and TALVEY® + pomalidomide in adult patients with relapsed or refractory multiple myeloma (RRMM) who received 1 to 4 prior lines of therapy, including an anti-CD38 antibody and lenalidomide.1 The study demonstrated statistically significant and clinically meaningful improvements in progression-free survival and overall survival for both investigational arms compared with investigator's choice standard of care.
Apple on Thursday announced a new set of developer tools that will let automakers embed Apple Maps navigation and mapping directly into their vehicles’ infotainment systems.
The software development kit, called MapKit for Automotive, will debut with Ford and its new line of electric vehicles, starting with a $30,000 midsize truck in 2027.
Ford is placing a hefty bet on its next-generation of EVs, which it has promised will be affordable and efficient while still offering the latest technology. To build them, Ford ditched its century-old tradition and instead started with a universal EV platform, or UEV, that will underpin the midsize truck and eventually other vehicles including a sedan, crossover, three-row SUV and even small commercial vans.
Features like Apple Maps integration may seem minor compared to Ford’s decision to use single-piece aluminum unicastings for the vehicle, which are large components cast as one piece to eliminate parts and allow for faster assembly.
But the Apple Maps integration is central to Ford’s plan to deliver more responsive features to owners, such as navigation that includes efficient routing designed for EVs and turn-by-turn directions with natural language capabilities.
Drivers will be able to see real-time traffic and incident information, search for destinations, and view detailed place information. Importantly, Apple MapKit runs natively in the vehicle and is separate from Apple CarPlay, which mirrors apps from an iPhone onto the vehicle’s central display.
The integration will also feed road-level information from Apple Maps to Ford’s next-generation BlueCruise hands-free driver assistance system. The upgraded version of BlueCruise, which is expected to roll out next year, will be able to handle an entire highway journey, including entrance and exits ramps. The company has said the new system will ultimately handle “point-to-point autonomy,” similar to Tesla’s Full Self-Driving (Supervised) software, before progressing to eyes-off driving in 2028.
The companies said that by embedding Apple Maps directly in the vehicle, drivers will gain access to smarter EV routing, including battery preconditioning. This feature prepares the battery before arriving at a charger, reducing charge times by ensuring it’s at the optimal temperature.
It could also enable smart home integrations, like opening the garage door and turning on the lights when the driver arrives at home.
While the technology will be open to any automaker, Ford is Apple’s first partner on the new effort. The companies have signed a commercial agreement, but did not disclosed its terms.
Ford noted that the Apple integration could also help its Ford Pro business, which serves its commercial fleet customers. For example, businesses could use the technology to route drivers to their next job site or display other fleet vehicles on the map. Those kinds of fleet features become much easier when the mapping platform is built directly into the vehicle.
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Sarah has worked as a reporter for TechCrunch since August 2011. She joined the company after having previously spent over three years at ReadWriteWeb. Prior to her work as a reporter, Sarah worked in I.T. across a number of industries, including banking, retail and software.
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Kirsten Korosec is a reporter and editor who has covered the future of transportation from EVs and autonomous vehicles to urban air mobility and in-car tech for more than a decade. She is currently the transportation editor at TechCrunch and co-host of TechCrunch’s Equity podcast. She is also co-founder and co-host of the podcast, “The Autonocast.” She previously wrote for Fortune, The Verge, Bloomberg, MIT Technology Review and CBS Interactive.
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National Airlines si objednala jeden motor GE90-110B a šest motorů CF6-80C2 pro své nákladní letouny Boeing 777F/747F. Společnost už provozuje 30 motorů CF6 a osm GE90 od GE Aerospace.
, /PRNewswire/ -- GE Aerospace (NYSE: GE) announced today that National Airlines has committed to purchase one GE90-110B and six CF6-80C2 engines to power their Boeing 777F/747F cargo airplanes.
National Airlines has extensive experience with GE Aerospace, already owning thirty CF6 engines and eight GE90 engines
National Airlines B777-200F
National Airlines B747-400F Mohamed Ali, President & CEO, GE Aerospace Commercial Engines & Services, said, "We're thrilled that National Airlines continues to invest in our engines after recently purchasing eight GE90 engines. These additional engines will help National meet growing cargo demand and demonstrates their continued confidence in these aircraft-engine combinations."
The GE90 engine family powers all Boeing 777 models and is the exclusive powerplant on the 777-300ER, -200LR, and Freighter. The GE90 engine features several technology firsts, including carbon fiber composite front fan blades, the world's largest front fan at 128 inches in diameter and the world-record setting thrust of 127,900 pounds during certification testing.
National Airlines Chairman Chris Alf said, "Reliability, performance, and consistency are the foundation of successful air cargo operations, which is why National Airlines has built its freighter fleet around GE Aerospace engine technology. The addition of these CF6 and GE90 engines further strengthens our operational capability, ensuring we have the flexibility, capacity, and long-term resilience needed to support our customers' evolving requirements for years ahead."
GE Aerospace's CF6 turbofan engines collectively power nearly 70% of the world's widebody airplanes dedicated to hauling cargo. Since first entering service more than 50 years ago, the CF6 engine's technology has advanced, earning a reputation for dependability and durability which translates to an ever-ready fleet, on-time arrivals, and lower maintenance costs for customers.
About GE Aerospace
GE Aerospace is a global aerospace propulsion, services, and systems leader with an installed base of approximately 49,000 commercial and 29,000 military aircraft engines. With a global team of approximately 53,000 employees building on more than a century of innovation and learning, GE Aerospace is committed to inventing the future of flight, lifting people up, and bringing them home safely. Learn more about how GE Aerospace and its partners are defining flight for today, tomorrow and the future at www.geaerospace.com.
About National Airlines
Established in 1991, National Air Cargo, Inc. provides premium global end-to-end logistics, freight forwarding, and charter airline services. National Airlines, the airline division of the company, is a U.S. FAA-certificated Part 121 air carrier operating a fleet of nine Boeing 747-400 freighters, four Boeing 777-200 freighters, and three passenger aircraft, including the Airbus A330-300 and A330-200.
The company provides on-demand commercial cargo and passenger charter services to more than 450 airports worldwide. From humanitarian relief missions to time-critical shipments, National Airlines delivers customized air cargo charter solutions for customers across the defense, e-commerce, automotive, energy, high-tech, fashion, pharmaceutical, oil and gas, and space technology sectors.
With offices and operational hubs in Buffalo, Orlando, Houston, Chicago, Frankfurt, Madrid Amsterdam, Dubai, Bengaluru, Kuala Lumpur, Tokyo, Shanghai, Hong Kong, and Taipei, National manages seamless global operations anytime, anywhere, always.
Qualcomm uzavřel dohody se třemi hyperscalery, včetně Microsoftu a Meta Platforms, na dodávky AI čipů do datových center. Firma očekává ve fiskálním roce 2029 nejméně 15 miliard USD příjmů z tohoto byznysu.
Since the advent of modern-day artificial intelligence platforms, Nvidia (NVDA -1.52%) has been the chip provider of choice thanks to its dominance in data center graphics processing units (GPUs). Even computing powerhouses like Intel and Advanced Micro Devices were on the fringe of the market. Mobile processor maker Qualcomm (QCOM -2.07%) wasn't even part of the discussion.
Now, that's changing. The often-overlooked mobile technology name recently inked deals to supply three hyperscalers -- including Microsoft (MSFT -0.74%) and Facebook parent Meta Platforms (META -2.91%) -- with artificial intelligence (AI) processing chips. All told, Qualcomm expects to do at least $15 billion worth of data center business in its fiscal 2029, up from none a year ago. For perspective on that figure, the company reported revenue of $44.3 billion for its fiscal 2025, which ended in September.
Qualcomm's budding presence in the AI data center business is not only undeniable, but meaningful.
It's also an opportunity for volatility-tolerant investors.
Qualcomm makes a well-deserved splash It shouldn't come as a complete surprise. Qualcomm has been alluding to this next evolution of its high-performance, energy-efficient mobile processing tech (you've probably heard of its popular Snapdragon processor) for some time now. However, it plainly confirmed its plans to enter the AI data center business in October of last year, when it "announced the launch of its next-generation AI inference-optimized solutions for data centers: the Qualcomm AI200 and AI250 chip-based accelerator cards, and racks." It then expanded its AI portfolio last month, introducing the Dragonfly AI300 inference accelerator, which was designed with agentic AI in mind.
That's also when the company confirmed that its Dragonfly C1000 data center central processing unit (CPU) will "power Meta's next-generation server fleet, underscoring the growing importance of high-performance, power-efficient compute in large-scale scale-out environments" as part of a multi-generation collaboration. Microsoft's Azure cloud computing platform, in the meantime, will utilize Qualcomm's HBC (high-bandwidth compute) chips alongside the AI200 and AI250 beginning next year, as the combination of this hardware becomes available at scale.
Image source: Getty Images.
This tech isn't a mere replication of solutions that are already available from rival chipmakers. There's a very specific reason Meta and Microsoft are interested enough to give Qualcomm's solutions a shot when it's the least-proven name in the business. That reason is efficiency, or more specifically, lower operating costs.
By directly connecting processing cores to high-bandwidth memory, Qualcomm says its hardware can deliver on the order of 4 to 8 times more computing performance per watt compared to existing GPU-based architectures, addressing one of the AI industry's chief challenges at this time.
Growth ahead on many fronts Qualcomm's still something of an outsider within AI data center computing circles. However, the company's forecast for a minimum of $15 billion worth of artificial intelligence data center revenue in fiscal 2029 (which ends in September 2029) isn't outrageous in the least. The outlook from Precedence Research suggests that the global AI processor market is poised to grow from a little less than $58 billion last year to more than $146 billion by 2029, en route to a total of $550 billion in 2035. Qualcomm would only need to capture about one-tenth of the projected market to reach its 2029 target.
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The fact that its technology is built to handle the relatively new demands of agentic AI matters, too. Precedence Research's study also asserts that the agentic artificial intelligence market is on pace to grow from less than $8 billion last year to more than $32 billion in 2029, although it doesn't anticipate that this sliver of the artificial intelligence industry will outright explode until the first half of the 2030s. For 2034, its expected market size is just under $200 billion.
All that being said, it's arguable that investors are overlooking -- and therefore undervaluing -- Qualcomm's future on the automotive and the Internet of Things (IoT) fronts. The company's expectations that both its automobile-related and IoT (wearables, robotics, security systems, industrial automation, etc.) will more than double in size over the coming four years are realistic as well.
Qualcomm expects its revenues from sources beyond its mobile handset business to grow by an average of 40% per year through 2029, making it one of the hotter growth names of the next chapter of the AI revolution.
Data source: Morningstar. Chart by author.
This might help: Although the majority of analysts only rate QCOM stock as a hold right now, their consensus price target of $228.57 is 33% above the ticker's current price. That's not a bad way to start out a new trade in this recently discounted stock. Just keep in mind that its volatility is likely to linger for at least a while longer.
Intel zveřejní výsledky za 2. čtvrtletí po uzavření trhu ve čtvrtek; analytici čekají zisk 22 centů na akcii a tržby 14,45 miliardy USD. Akcie ve středu klesly o 2,7 %.
Intel Corporation (NASDAQ:INTC) will release its second quarter earnings report after the closing bell on Thursday, July 23.
Analysts expect the Santa Clara, California-based company to report quarterly earnings of 22 cents per share, versus a loss of 10 cents per share in the year-ago period. The consensus estimate for Intel’s quarterly revenue is $14.45 billion. It reported $12.86 billion last year, according to Benzinga Pro.
On July 21, Intel and Fortinet announced a strategic collaboration to develop Fortinet Security Processor 6.
Intel shares fell 2.7% to close at $102.62 on Wednesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Considering buying INTC stock? Here’s what analysts think:
Photo via Shutterstock
Market News and Data brought to you by Benzinga APIs
T-Mobile (TMUS - Free Report) came out with quarterly earnings of $3.13 per share, beating the Zacks Consensus Estimate of $2.49 per share. This compares to earnings of $2.84 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +25.70%. A quarter ago, it was expected that this wireless carrier would post earnings of $2.06 per share when it actually produced earnings of $2.7, delivering a surprise of +31.07%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
T-Mobile, which belongs to the Zacks Wireless National industry, posted revenues of $22.79 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.21%. This compares to year-ago revenues of $21.13 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
T-Mobile shares have lost about 6% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for T-Mobile?While T-Mobile 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 T-Mobile 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 $2.87 on $23.19 billion in revenues for the coming quarter and $10.53 on $94 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, Wireless National is currently in the bottom 18% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, ATN International (ATNI - Free Report) , has yet to report results for the quarter ended June 2026.
This provider of telecommunications services is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +150%. The consensus EPS estimate for the quarter has been revised 14.3% lower over the last 30 days to the current level.
ATN International's revenues are expected to be $183.2 million, up 1.1% from the year-ago quarter.
Akcie Oracle za 10 měsíců spadly o více než 50 % z maxima, protože trh zpochybňuje agresivní výdaje na AI datová centra. S&P Global Ratings navíc snížila rating na BBB-.
Ten months ago, Oracle (ORCL -1.68%) looked unstoppable. The company had become one of Wall Street's biggest AI winners as investors bet its cloud infrastructure business would play a central role in powering AI workloads. The stock surged to record highs, briefly pushing co-founder Larry Ellison's net worth above $400 billion.
Today, the story looks very different. Oracle shares have fallen by more than 50% from their peak, wiping roughly $213 billion from Ellison's personal fortune as the market has begun to question the company's aggressive AI data center spending.
The stock is now sitting at levels it hasn't seen since April 2025. So is this a good buying opportunity?
Why Oracle fell Demand for Oracle Cloud Infrastructure remains strong. The company continues to sign large infrastructure contracts and expand its data center capacity. In fact, its remaining performance obligations reached a record $638 billion as of May 31, the end of its fiscal 2026.
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The problem is that building AI data centers isn't cheap. Oracle dramatically increased capital spending to expand its cloud infrastructure. Capital expenditures topped $21 billion in fiscal 2026, up from about $7 billion a year earlier, and management says it expects to spend more than $25 billion in fiscal 2027. That begs the question: Will those investments generate attractive returns quickly enough to justify these mounting costs?
Those concerns intensified after S&P Global Ratings downgraded Oracle's credit rating to BBB-, just one notch above junk status. That's not a trivial development, because a lower credit rating translates into higher borrowing costs, which will make its already capital-intensive expansion strategy even more expensive. Investors are right to have concerns.
The long-term case remains intact Despite the sell-off, Oracle's underlying business hasn't suddenly broken. The cloud infrastructure unit remains one of the fastest-growing parts of the company, and demand for AI computing capacity continues to outstrip supply across much of the industry.
Image source: Getty Images.
Oracle has also carved out a unique competitive position. Rather than competing directly against Amazon Web Services, Microsoft Azure, and Alphabet's Google Cloud, Oracle increasingly partners with them.
That strategy broadens the company's addressable market while reinforcing its dominance in enterprise databases. Oracle's large backlog of signed cloud contracts also provides it with significant revenue visibility over the coming years.
Is it a buy? If you're looking for a stock that will rebound and surge over the next quarter, Oracle may not be your best choice. Investor sentiment regarding the company has clearly deteriorated, and concerns surrounding its AI infrastructure spending aren't likely to disappear overnight.
If you have a long time horizon as an investor, however, this is not a stock to ignore. Oracle is making enormous investments because management believes AI infrastructure demand will continue growing for years. If that thesis proves correct, today's elevated spending could eventually translate into significantly higher cloud revenue and cash flow.
Of course, there's still risk. If enterprise AI adoption slows, Oracle could find itself in possession of billions of dollars of expensive infrastructure that takes longer than expected to generate attractive returns.
That's why I wouldn't call Oracle a screaming bargain. But I also wouldn't dismiss it because of a difficult 10-month stretch. The market has gone from pricing Oracle as though nothing could go wrong to assuming almost everything will. Reality will likely fall somewhere in between.
Jeff Siegel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Microsoft, Oracle, and S&P Global. The Motley Fool has a disclosure policy.
Tři krypto protokoly byly během 24 hodin napadeny a přišly o více než 35,5 milionu USD. Největší ztrátu utrpěl AFX na Arbitrum, který při bridge exploitu přišel zhruba o 24,15 milionu USD v USDC.
Three separate crypto protocols got carved up within a single 24-hour window, with combined losses topping $35.5 million. The victims span three different chains, three different attack vectors, and one very familiar story: bridges remain the soft underbelly of decentralized finance.
The largest hit landed on AFX, an Arbitrum-based protocol that lost approximately $24.15 million in USDC through a bridge exploit on July 22. BSquaredNetwork on BNB Chain saw $3.86 million in B2 tokens drained. And the Verus cross-chain bridge on Ethereum hemorrhaged $7.55 million, a wound made worse by the fact that Verus had already been exploited for roughly $11.58 million back in May.
How each exploit played out The AFX breach was the headliner. Attackers siphoned $24.15 million in USDC from the protocol’s bridge infrastructure on Arbitrum, then moved the funds to Ethereum and swapped them into around 12,467.5 ETH.
BSquaredNetwork’s exploit was smaller in dollar terms but arguably messier for holders. The $3.86 million in stolen B2 tokens were exchanged for more than 5,000 WBNB, which were then converted into roughly 1,128 ETH. The sell pressure from the dump sent B2’s price cratering more than 15%.
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Then there’s Verus. The $7.55 million loss on July 23 is concerning on its own, but context makes it worse. This is the same cross-chain bridge that suffered an approximately $11.58 million exploit in May 2026. That means Verus has lost north of $19 million in roughly two months to what appear to be related security vulnerabilities.
PeckShield, the blockchain security firm, was among the first to flag each incident on-chain.
A brutal quarter for crypto security These three exploits didn’t happen in a vacuum. According to data from TRM Labs, the first half of 2026 saw a record 207 security incidents. Q2 alone accounted for $764 million stolen across 67 separate incidents, with operational weaknesses cited as a primary attack surface.
Vitalik Buterin flagged bridge security risks as far back as 2022, arguing that multi-chain futures would not be secured by the same trust assumptions as single-chain applications.
What this means for investors B2’s 15%-plus price drop is the most direct example of immediate market impact. When three protocols get exploited in a single day, it puts a chill on risk appetite across the broader DeFi ecosystem.
The $764 million stolen in Q2 2026 alone represents real capital permanently removed from the ecosystem. That’s money that funded development, provided liquidity, and backed lending markets.
For individual investors, the Verus situation is particularly instructive: a protocol that gets exploited once and doesn’t fully remediate its vulnerabilities before getting hit again is broadcasting something important about its security posture. The first hack might be bad luck. The second one is information.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Honeywell International (HON) ve 2. čtvrtletí vykázala zisk na akcii 1,95 USD a tržby 5,19 miliardy USD, obojí nad odhady. Zisk na akcii překonal konsensus o 8,33 %.
Honeywell International Inc. (HON - Free Report) came out with quarterly earnings of $1.95 per share, beating the Zacks Consensus Estimate of $1.8 per share. This compares to earnings of $5.5 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +8.33%. A quarter ago, it was expected that this company would post earnings of $4.62 per share when it actually produced earnings of $4.9, delivering a surprise of +6.06%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Honeywell International, which belongs to the Zacks Diversified Operations industry, posted revenues of $5.19 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.19%. This compares to year-ago revenues of $10.35 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Honeywell International shares have lost about 40.3% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Honeywell International?While Honeywell International 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 Honeywell International was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.25 on $5.33 billion in revenues for the coming quarter and $10.34 on $20.04 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, Diversified Operations is currently in the bottom 35% 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, ITT (ITT - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.
This supplier of parts and services to a wide variety of industries is expected to post quarterly earnings of $1.93 per share in its upcoming report, which represents a year-over-year change of +17.7%. The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level.
ITT's revenues are expected to be $1.39 billion, up 43.3% from the year-ago quarter.
Morgan Stanley může těžit z dalšího boomu M&A: oznámené transakce letos vzrostly o 32 % na 1,2 bilionu USD. Morgan Stanley z toho může těžit, už se podílela na obchodech za více než 831 miliard USD.
Morgan Stanley stock has wavered recently, evem as the Wall Street company published strong financial results. MS was trading at $218, a few points below its all-time high of $232. This consolidation may lead to a strong rebound after a major Goldman Sachs prediction.
Morgan Stanley is benefiting from major trends in the US this year. Mega IPOs are rising, and analysts expect that merger and acquisition (M&A) deals will accelerate in the near term.
Morgan Stanley was one of the banks that made a windfall from the recent SpaceX IPO. It is estimated that the company made over $100 million in the process.
The bank will likely benefit from more IPOs, including companies like Anthropic and OpenAI.
Most notably, Goldman Sachs analysts predict that the merger and acquisition boom has more room to run. Announced M&A deals have jumped by 32% this year to $1.2 trillion. The number of announced deals has soared by 12% in then same period.
In a report, the bank said that this trend will continue, helped by a steady economic growth, healthy CEO confidence, and a favorable regulatory backdrop. The bank added that:
“Likely M&A targets should benefit from the ongoing surge in M&A activity, which does not appear to be fully priced in their valuations.”
If this is correct, then Morgan Stanley will be one of the top beneficiaries. Dealogic data estimates that it is the third in the M&A industry this year after Goldman and JPMorgan. It has been involved in deals worth over $831 billion.
The company also ranks third in the equity capital markets (ECM) bookrunning with its deal value rising to $51 billion. It has also become a major player in debt raising industry.
These numbers are confirmed by its recent financial results, which showed that its net revenue jumped by 27% YoY to $21.3 billion. It was a $1 billion increase from the previous quarter.
Institutional securities revenue rose by 44% to $11 billion, while its wealth and investment management rose by 14% and 6%, respectively. These ones rose to $8.8 billion and $1.6 billion. Notably, the provision for credit losses dropped to just $98 million during the quarter. Ted Pick, the CEO said:
“Differentiated content from our Research teams continues to drive high levels of client engagement. Wealth Management added a record $148 billion in net new assets, with total client assets across Wealth and Investment Management reaching the $10 trillion milestone.”
MS stock chart | Source: TradingView
Technically, however, the MS stock price will need to overcome the double-top pattern at $230, and whose neckline is at $230. Also, the stock needs to overcome the mean reversion risk. Mean reversion is a situation where an asset normally moves to its historical averages. In this case, the stock is much higher than the 200-day moving average of $184.
Therefore, there is a risk that it will pull back in the near term because of its weak technicals. On the other hand, a move above the key resistance level of $230 will point to more gains, potentially to the key resistance at $250.
Zásoba LINK na burzách za měsíc klesla o 12 % a v neděli odtud čistý odtok činil 1,04 milionu tokenů. LINK mezitím za posledních 24 hodin vzrostl na 8,69 USD.
Chainlink‘s (LINK) available supply on major cryptocurrency exchanges decreased by more than 15.7 million LINK over the past month, representing a 12% drop. Data from Santiment revealed that on Sunday alone, a net total of 1.04 million LINK tokens left exchanges, marking one of the largest single-day outflows during this period.
Shift from Exchanges Signals AccumulationA declining supply of LINK held on exchanges is generally interpreted as a reduction in sell pressure, as tokens are moved into private wallets for holding rather than short-term trading. This pattern is often seen as a sign of accumulation among investors, who may be positioning themselves for potential future growth.
Chainlink serves as a decentralized oracle network that connects smart contracts with real-world data, making it a crucial component for DeFi and traditional financial institutions integrating blockchain technology.
DTCC Tokenization Project Features ChainlinkRecent weeks have seen several major institutional developments tied to Chainlink’s infrastructure. On July 15, the Depository Trust & Clearing Corporation (DTCC), a leading post-trade market infrastructure for the global financial services industry, completed its first production trades using tokenized US securities. This initiative has been described as the most extensive tokenization effort to date in terms of use-case breadth, asset classes, and participant involvement.
The event involved participation from over 30 prominent financial institutions, including BlackRock, J.P. Morgan, Goldman Sachs, Vanguard, NYSE, Nasdaq, and CME Group. Chainlink was among the named technology providers. The official launch of the DTCC Tokenization Service is scheduled for October 2026.
Mini dictionary: DTCC, or Depository Trust & Clearing Corporation, is a prominent US-based financial services company that provides clearing and settlement services for financial markets worldwide.
At the same time, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) expanded to connect with the Canton Network and Ethereum, extending infrastructure that now secures over $7 billion in protocol value.
Mini dictionary: CCIP, the Cross-Chain Interoperability Protocol, is Chainlink’s technology for securely transferring data and digital assets across different blockchain networks.
EventDateOrganizations InvolvedChainlink’s RoleDTCC Tokenized Securities TradesJuly 15BlackRock, J.P. Morgan, Goldman Sachs, Vanguard, NYSE, Nasdaq, CME GroupTechnology providerDTCC Tokenization Service LaunchOctober 2026DTCC, participating financial firmsTechnology providerCCIP expansion to CantonJuly 2024Chainlink, Canton Network, EthereumSecuring protocol valueMajor Partnerships and Price MovementChainlink has also seen growing demand through new partnerships. In June, ADI Predictstreet, the official prediction market partner for the 2026 FIFA World Cup, selected Chainlink as its sole oracle provider for market resolutions and payout processing.
Additionally, digital asset technology firm United Stables chose Chainlink as the official data and cross-chain foundation for its $1 billion U stablecoin. This integration includes deploying Chainlink Data Feeds and Proof of Reserve solutions across BNB Chain, Ethereum, and TRON, with CCIP integration also planned.
Amid these developments, LINK’s price on major exchanges increased by more than $4.60 during the last 24 hours, climbing to $8.69. Over the past month, LINK posted a 9.6% gain but remains nearly 69% below its $27.80 peak achieved last August.
Recent milestones in tokenization, infrastructure expansion, and high-profile partnerships have coincided with one of the largest recent outflows of LINK from exchanges, suggesting investors are moving tokens off exchanges amid Chainlink’s growing adoption.
During a period of expanding enterprise integration, a declining exchange supply of LINK may indicate that holders are positioning around Chainlink’s broader utility rather than preparing for short-term sales.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
United Stables přijala Chainlink jako oficiální oracle a cross-chain infrastrukturu pro stablecoin U poté, co nabídka v oběhu překročila 1 miliardu USD a denní objem obchodování přesáhl 2,5 miliardy USD.
United Stables has adopted Chainlink as the official oracle and cross-chain infrastructure for its U stablecoin after the asset surpassed $1 billion in circulating supply and more than $2.5 billion in daily trading volume.
Summary
United Stables has adopted Chainlink as the official oracle and cross chain infrastructure for its U stablecoin after the asset surpassed $1 billion in supply. Chainlink Data Feeds and Proof of Reserve are now live, while CCIP will support future cross chain transfers of U. The integration builds on Chainlink’s expanding institutional presence as more stablecoin and DeFi projects adopt its interoperability and data services. According to an announcement from United Stables, the company has integrated Chainlink’s data and interoperability products to strengthen pricing, reserve verification, and future cross-chain transfers for U, its dollar-pegged stablecoin launched on BNB Chain and Ethereum in December 2025.
The rollout includes Chainlink Data Feeds and Proof of Reserve, both of which are now live. United Stables said it also plans to integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to support secure transfers of U between blockchain networks as the stablecoin expands across the multi-chain ecosystem.
We are thrilled to announce that, following an extensive security review, we have adopted @chainlink as our official data and cross-chain infrastructure powering the U stablecoin.
What’s New for U:
🔺 Data Feeds (Live): Delivering highly accurate pricing data across 20+… https://t.co/j6pm6MdLrf
— U (@UTechStables) July 20, 2026 The company said the decision followed a review of security standards across the industry after recent incidents exposed weaknesses in legacy oracle and bridge infrastructure. According to United Stables, fragmented liquidity, unverified pricing, and vulnerabilities in cross-chain transfers were among the issues it sought to address by adopting Chainlink’s infrastructure.
Data feeds, reserve verification go live Under the integration, Chainlink Data Feeds now provide decentralized pricing data that United Stables said supports more than 20 lending protocols. At the same time, Chainlink Proof of Reserve allows users and protocols to verify the collateral backing U through on-chain cryptographic checks.
United Stables launched U in December 2025 as a fully backed stablecoin designed for trading, payments, decentralized finance, institutional settlement, and AI-driven applications. At launch, the company said U was backed one-to-one by cash and audited stablecoins including USDC, USDT, and USD1, with reserves held in segregated accounts and verified through on-chain Proof of Reserve alongside quarterly independent audits.
Athena, chief executive officer of United Stables, said the Chainlink integration allows users, institutional partners, and decentralized finance protocols to access verified pricing data, independently confirm U’s collateral around the clock, and eventually transfer the stablecoin securely across multiple blockchain networks.
She added that the company views cryptographic verification as a core requirement for building trust as U expands beyond its initial deployments.
Johann Eid, chief business officer at Chainlink Labs, said the infrastructure would allow United Stables to extend U across decentralized finance while relying on Chainlink’s decentralized oracle and interoperability network. According to Eid, the platform is designed to support institutional-scale stablecoin activity across multiple blockchains.
CCIP planned for future multi-chain transfers Beyond the services already deployed, United Stables said it intends to adopt Chainlink CCIP to power cross-chain transfers of U. According to the company, the protocol is expected to reduce friction when liquidity moves between supported blockchain networks while providing an additional security layer for interoperability.
For United Stables, the announcement builds on the roadmap introduced when U launched late last year. Alongside decentralized finance integrations with platforms including PancakeSwap, ListaDAO, Aster, and Four.meme, the company said it plans to add confidential balances and AI-focused payment capabilities through technologies such as EIP-3009 and delegated transaction execution.
According to United Stables, combining its liquidity infrastructure with Chainlink’s oracle, reserve verification, and interoperability products is intended to provide transparent collateral verification, secure pricing data, and future cross-chain functionality as U continues expanding across BNB Chain, Ethereum, TRON, and other supported blockchain networks.
CCIP has become one of Chainlink’s main products for blockchain interoperability over the past year. Earlier this month, Aave expanded its use of the protocol by making CCIP the default cross-chain infrastructure across the Aave App and Stable Vaults. According to Aave, the same infrastructure now handles token transfers, vault rebalancing, governance execution, deposits, withdrawals, and yield optimization instead of relying on separate systems for different cross-chain functions.
Aave also said CCIP already powers transfers of its GHO stablecoin across supported networks through Chainlink’s Cross-Chain Token standard. Cross-chain governance proposals are also executed through the Aave Delivery Infrastructure, which uses CCIP to relay approved governance actions from Ethereum to other blockchain networks where Aave operates.
Security has remained a key part of CCIP’s design. According to Aave, every bridge lane is secured by at least 16 independent node operators distributed across different organizations and regions, while built-in rate limits restrict the amount of value that can move during abnormal conditions.
Chainlink continues institutional expansion The latest integration adds to Chainlink’s growing presence across both decentralized finance and institutional financial infrastructure.
In June, Chainlink joined Project Pangea, a bank-backed initiative focused on testing stablecoin-based foreign exchange settlement between Europe and South Korea. According to Chainlink, the project includes FairSquareLab, UniKA, and Qivalis, representing more than 50 banks with over $10 trillion in assets under management. The initiative uses Chainlink infrastructure alongside ISO 20022 messaging and existing SWIFT systems to test atomic payment-versus-payment settlement using compliant euro and South Korean won stablecoins.
Chainlink has also expanded into traditional market infrastructure. In January, BitMEX said it would use Chainlink Data Streams to provide pricing for its planned Equity Perpetuals, allowing the exchange to support perpetual contracts linked to stocks and exchange-traded funds using continuous market data from multiple sources.
Chainlink whales have increased their activity as LINK attempts to recover from a broader market decline, with large holders reportedly accumulating more than 14 million tokens in less than a month.
Summary
Chainlink whales accumulated over 14 million LINK as large transactions increased sharply during recent weeks. LINK trades near $8.54, with improving RSI and MACD signals supporting its latest recovery attempt. Falling exchange reserves reduce available selling supply, though LINK must reclaim $9–$10 for stronger momentum. LINK traded near $8.54 at the time of writing, down about 0.6% over the past 24 hours. The token had a market capitalization of roughly $6.39 billion and daily trading volume of about $175.24 million. Its 24-hour trading range stood between $8.53 and $8.72, according to crypto.news market data.
Chainlink whale activity rises as large holders accumulate LINK Onchain data shared by crypto analyst Ali Martinez showed that Chainlink whale activity had increased over the past two weeks. More than 20 transactions valued above $1 million each were recorded during one recent session, which Martinez described as evidence of “growing interest from large holders.”
Separate data shared by the analyst showed that large holders accumulated more than 14 million LINK in less than a month. Their combined holdings reportedly rose from below 170 million tokens to around 182 million to 183 million LINK during the period.
Whale accumulation can reduce available market supply when holders keep their tokens rather than moving them to exchanges, but it does not guarantee that prices will rise.
Whales have accumulated more than 14 million Chainlink $LINK over the past three weeks.
Large-scale accumulation like this often reflects growing confidence from major holders and is worth keeping an eye on. pic.twitter.com/edk7bVHsZQ
— Ali Charts (@alicharts) July 23, 2026 The latest activity follows earlier accumulation seen across the Chainlink network. Wallets holding more than 1,000 LINK recently reached their highest level of the year, while addresses controlling at least 100,000 LINK rose to a record 805, as previously reported.
LINK price shows short-term recovery signals The daily chart shows LINK trading inside a broader downtrend after falling from earlier highs near $26–$28. The token has spent recent months largely moving within the $7–$10 region as buyers and sellers compete around the lower end of its longer-term range.
Short-term technical indicators have improved. The MACD line stood near 0.1866, above its signal line at about 0.1267, while the positive histogram pointed to improving momentum. The relative strength index was near 60.43, above both the neutral 50 level and its moving average of about 58.31.
Chainlink (LINK) price chart, source: crypto.news The readings suggest buyers have gained some control without pushing LINK into overbought territory. However, price still faces resistance between $9 and $10. A sustained move above that area could strengthen the recovery structure, while another rejection may keep LINK inside its current consolidation range.
Recent price action has followed a similar setup. LINK rose after Mantle moved its $2.5 billion Super Portal to Chainlink’s Cross-Chain Interoperability Protocol.
Falling exchange reserves tighten available LINK supply Chainlink exchange reserves have also moved lower, according to CryptoQuant data. The total has fallen to about 125.4 million LINK, compared with levels commonly ranging between roughly 165 million and 190 million during parts of 2024 and 2025.
Lower exchange balances can mean fewer tokens are immediately available for sale. However, declining reserves alone do not prove that demand will increase. LINK continues to trade near the lower part of its multi-year price range, so stronger buying pressure would still need to appear in the price structure.
Chainlink (LINK) exchange reserves, source: CryptoQuant Derivatives data also presents a mixed picture. CoinGlass data showed trading volume rising 1.95% to about $233.74 million, while open interest slipped 0.91% to roughly $445.28 million. The combination suggests more trading activity without a matching increase in outstanding leveraged positions.
Chainlink has seen similar periods of tightening supply before. Declining exchange reserves and whale purchases have repeatedly formed part of the bullish case for LINK, though price performance has not always followed immediately.
Chainlink ecosystem activity supports the broader market case Chainlink continues to expand its role in blockchain infrastructure despite LINK’s weak longer-term price performance. Santiment has ranked the network among the leading real-world asset projects by development activity, placing it alongside Hedera at the top of the sector in recent rankings.
Institutional integrations have also continued. Mantle recently migrated its $2.5 billion Super Portal to Chainlink CCIP, while Aave selected Chainlink infrastructure for automated vault rebalancing. The number of Ethereum wallets holding LINK has also passed 900,000.
Meanwhile, U.S. investors now have regulated exchange-traded exposure to LINK. According to SoSoValue data, U.S. spot Chainlink ETFs recorded $2.68 million in net inflows on July 22, lifting cumulative net inflows to $127.83 million.
Total trading volume reached $2.99 million for the day, while total net assets stood at $114.78 million. The first U.S. Chainlink ETF received approval to trade on NYSE Arca in December 2025, expanding institutional access to the asset.
Some analysts have set much higher long-term targets. Crypto Patel has pointed to continued ETF demand and suggested LINK could eventually reach between $50 and $100 during another strong market cycle. Those targets remain analyst projections rather than confirmed price outcomes.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Společnost Circle podepsala samostatná memoranda o porozumění s Kakao Group a s provozovatelem Toss, firmou Viva Republica, o zkoumání stablecoinových plateb, vypořádání na blockchainu a infrastruktury digitálních aktiv v Jižní Koreji. Projekty se zaměří na USDC, KRW stablecoiny a přeshraniční platby.
Circle has signed separate memorandums of understanding with Kakao Group and South Korean fintech operator Toss to explore stablecoin payments, blockchain settlement and digital asset infrastructure in South Korea.
Summary
Circle signed agreements with Kakao Group and Toss to explore stablecoin payment infrastructure in Korea. Kakao plans to assess KRW stablecoins, remittances and merchant settlement using Circle’s blockchain payment technology. Toss will explore USDC-based services, digital wallets and programmable payments while regulations continue developing nationwide. The agreements bring Circle’s USDC and payment technology into discussions with some of Korea’s largest consumer finance platforms. Kakao, Kakao Pay and Kakao Bank will study opportunities around KRW-based digital assets, cross-border payments and tokenized financial services. Toss and Toss Bank will examine similar uses, including digital wallets, overseas payments and programmable onchain transactions.
Kakao Group said its agreement with Circle will combine the KakaoTalk-centered platform ecosystem with Kakao Pay’s payment services, Kakao Bank’s banking capabilities and Circle’s blockchain infrastructure. The companies plan to review payment, settlement and digital asset connectivity as South Korea develops rules for stablecoins and other tokenized financial products.
The initial work will focus on faster payment and settlement systems, according to local reporting. The companies will also assess cross-border remittances, merchant settlement and links between blockchain networks and existing financial systems. Kakao Group said the infrastructure could eventually support services from other Korean companies, although the MOU does not set a launch date or confirm a specific stablecoin issuance model.
Kakao Pay CEO Shin Won-keun, who leads the group’s stablecoin task force, said the companies would “preemptively prepare a Korean digital asset ecosystem with Circle.” Circle executives met Kakao representatives in Pangyo on July 22 before the partnership was announced.
Toss explores USDC and programmable payments Circle also signed a separate MOU with Viva Republica, the operator of Toss, and Toss Bank. The companies will study blockchain-based payments and stablecoin infrastructure, with potential uses covering digital wallets, cross-border settlement and financial services that use USDC.
Toss will review biometric payment tools, USDC-linked financial products and programmable onchain payments. Toss Bank will focus on connecting stablecoin infrastructure with traditional bank accounts and fiat payment networks. The parties also plan to examine compliance, risk management, security and anti-money laundering requirements as Korean rules develop.
The agreement builds on Toss’s broader interest in digital assets. As crypto.news previously reported, the fintech has explored a proprietary blockchain and a possible token while preparing for a Korean stablecoin market. Toss Bank has also been studying blockchain-based payment and settlement models.
Circle expands its South Korea strategy The new agreements follow months of outreach by Circle in South Korea. As crypto.news reported on July 13, the company planned its Current Seoul event to bring banks, exchanges, payment firms and super-app operators together for talks on digital asset regulation and payments. Kakao Pay CEO Shin Won-keun was among the scheduled speakers.
Circle CEO Jeremy Allaire also visited Seoul in April and met executives from Korean banks, exchanges and payment companies. He said Circle did not plan to issue its own won stablecoin. Instead, the company has positioned USDC and its infrastructure as possible links between future KRW-denominated tokens and global payment networks.
That approach is visible in the latest agreements. Circle is not announcing a KRW stablecoin with Kakao or Toss. The companies are studying how local won-based digital assets could work alongside USDC, blockchain settlement systems and existing financial infrastructure.
Any commercial launch will depend on the final product design and regulatory approvals. Circle Chief Commercial Officer Kash Rajaghi said Korea has “a solid foundation for financial innovation.”
Korean firms prepare for stablecoin rules South Korean technology and financial groups have increased work on won-based stablecoins as policymakers prepare a broader legal framework. Kakao Bank has already explored stablecoin development, while Kakao Pay has been building a wider group strategy around KRW-linked digital assets.
Kakao Group said its Circle partnership could support a shared foundation for stablecoin services beyond its own platforms. The group is also reviewing tokenized financial services, which could use stablecoins as a settlement layer when assets move between blockchain networks and traditional financial systems.
Circle has taken a similar infrastructure-led approach elsewhere in Asia.The company recently partnered with Japan’s JCB to test USDC for corporate treasury transfers and merchant payments. The Korean agreements extend that regional strategy into platforms with large domestic payment and banking networks.
For now, both partnerships remain exploratory. Kakao Group, Toss and Circle have not announced a launch date for a KRW stablecoin or a live consumer payment product. Their agreements instead create a framework to test business models, technical connections and regulatory requirements as South Korea’s digital asset rules take shape.
Aureus Asset Management v 1. čtvrtletí zvýšila svůj podíl v Palo Alto Networks o 267 % na 8 404 akcií. Analytici zároveň zůstávají převážně optimističtí, průměrná cílová cena je 331,48 USD.
Aureus Asset Management LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 267.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,404 shares of the network technology company’s stock after acquiring an additional 6,114 shares during the period. Aureus Asset Management LLC’s holdings in Palo Alto Networks were worth $1,347,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Palo Alto Networks during the 4th quarter worth $1,415,364,000. Vanguard Group Inc. lifted its stake in Palo Alto Networks by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 67,929,063 shares of the network technology company’s stock valued at $12,512,533,000 after buying an additional 2,659,100 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Palo Alto Networks by 1,665.1% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,761,909 shares of the network technology company’s stock valued at $442,788,000 after buying an additional 2,605,433 shares in the last quarter. Bank of America Corp DE grew its holdings in Palo Alto Networks by 11.9% during the 4th quarter. Bank of America Corp DE now owns 19,375,486 shares of the network technology company’s stock valued at $3,568,964,000 after buying an additional 2,065,776 shares during the last quarter. Finally, Employees Provident Fund Board acquired a new stake in Palo Alto Networks during the 4th quarter valued at $281,542,000. Institutional investors and hedge funds own 79.82% of the company’s stock.
Wall Street Analysts Forecast Growth A number of equities analysts have recently weighed in on PANW shares. Weiss Ratings cut Palo Alto Networks from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. Wedbush lifted their price objective on Palo Alto Networks from $300.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Loop Capital boosted their target price on shares of Palo Alto Networks from $160.00 to $290.00 and gave the company a “hold” rating in a research note on Wednesday, June 3rd. Finally, Mizuho upped their target price on shares of Palo Alto Networks from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, forty have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $331.48.
Read Our Latest Report on PANW
Insider Buying and Selling at Palo Alto Networks In related news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $289.56, for a total transaction of $1,447,800.00. Following the completion of the sale, the executive vice president directly owned 145,250 shares of the company’s stock, valued at approximately $42,058,590. This represents a 3.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James J. Goetz sold 20,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $279.90, for a total value of $5,598,000.00. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $5,598,000. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 101,239 shares of company stock worth $27,174,360. Corporate insiders own 1.40% of the company’s stock.
Key Headlines Impacting Palo Alto Networks Here are the key news stories impacting Palo Alto Networks this week:
Positive Sentiment: Analysts and commentators continue to highlight Palo Alto Networks as a key beneficiary of rising AI-driven cybersecurity spending, with Morgan Stanley saying sentiment on software stocks may be too negative and Barron’s arguing PANW could be a major winner in the new AI era. Article: Morgan Stanley Analysts Say Sentiment Has Gotten ‘Too Negative’ on Software Stocks. These Are Their Picks Positive Sentiment: Market watchers are also pointing to broader enterprise demand for cybersecurity as AI agents proliferate, which could support future security product spending and reinforce PANW’s growth narrative. Article: Citi Wealth CIO Warns “Infinite AI Agents” Will Accelerate Cybersecurity’s Share of Enterprise Spending Positive Sentiment: Palo Alto Networks announced it will acquire Embrace to extend its observability platform with Real User Monitoring and Synthetics, a move aimed at improving digital experience monitoring and AI-driven operations. Investors may see this as an expansion into a higher-value adjacent market. Article: Palo Alto Networks to Extend Leading Observability Platform with Innovative Digital Experience Monitoring Neutral Sentiment: Another brief note flagged PANW as a cybersecurity stock to follow, but did not add any new catalyst beyond the broader sector interest. Article: Cybersecurity Stocks To Follow Now – July 20th Negative Sentiment: Despite the upbeat long-term themes, one article noted PANW had slipped intraday, suggesting some investors are still taking profits or reacting to overall software sector weakness. Article: Palo Alto slips 3%: Why this analyst still sees it as a top cyber pick Palo Alto Networks Trading Down 2.0% PANW stock opened at $335.28 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. The company has a market cap of $273.25 billion, a price-to-earnings ratio of 274.82, a PEG ratio of 12.70 and a beta of 0.91. The business has a fifty day simple moving average of $297.43 and a 200-day simple moving average of $215.80. Palo Alto Networks, Inc. has a 52 week low of $139.57 and a 52 week high of $368.80.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its earnings results on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Palo Alto Networks had a return on equity of 10.53% and a net margin of 7.95%.The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. Palo Alto Networks has set its FY 2026 guidance at 3.770-3.790 EPS and its Q4 2026 guidance at 0.960-0.980 EPS. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 2.03 EPS for the current year.
Palo Alto Networks Company Profile (Free Report)
Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.
The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.
See Also Five stocks we like better than Palo Alto Networks Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report).
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B&D White Capital Company LLC ve 1. čtvrtletí koupila 2 200 akcií Palo Alto Networks za zhruba 353 000 USD. Akcie PANW zároveň zahájily obchodování o 2,0 % níže.
B&D White Capital Company LLC bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,200 shares of the network technology company’s stock, valued at approximately $353,000.
A number of other hedge funds and other institutional investors have also modified their holdings of PANW. Darwin Wealth Management LLC acquired a new position in shares of Palo Alto Networks in the 2nd quarter valued at approximately $25,000. Steph & Co. increased its stake in shares of Palo Alto Networks by 88.2% in the fourth quarter. Steph & Co. now owns 143 shares of the network technology company’s stock worth $26,000 after buying an additional 67 shares during the last quarter. Knuff & Co LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter worth $26,000. Sittner & Nelson LLC raised its holdings in Palo Alto Networks by 73.8% in the fourth quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 62 shares in the last quarter. Finally, Luken Investment Analytics LLC raised its holdings in Palo Alto Networks by 196.2% in the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 102 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting Palo Alto Networks Here are the key news stories impacting Palo Alto Networks this week:
Positive Sentiment: Analysts and commentators continue to highlight Palo Alto Networks as a key beneficiary of rising AI-driven cybersecurity spending, with Morgan Stanley saying sentiment on software stocks may be too negative and Barron’s arguing PANW could be a major winner in the new AI era. Article: Morgan Stanley Analysts Say Sentiment Has Gotten ‘Too Negative’ on Software Stocks. These Are Their Picks Positive Sentiment: Market watchers are also pointing to broader enterprise demand for cybersecurity as AI agents proliferate, which could support future security product spending and reinforce PANW’s growth narrative. Article: Citi Wealth CIO Warns “Infinite AI Agents” Will Accelerate Cybersecurity’s Share of Enterprise Spending Positive Sentiment: Palo Alto Networks announced it will acquire Embrace to extend its observability platform with Real User Monitoring and Synthetics, a move aimed at improving digital experience monitoring and AI-driven operations. Investors may see this as an expansion into a higher-value adjacent market. Article: Palo Alto Networks to Extend Leading Observability Platform with Innovative Digital Experience Monitoring Neutral Sentiment: Another brief note flagged PANW as a cybersecurity stock to follow, but did not add any new catalyst beyond the broader sector interest. Article: Cybersecurity Stocks To Follow Now – July 20th Negative Sentiment: Despite the upbeat long-term themes, one article noted PANW had slipped intraday, suggesting some investors are still taking profits or reacting to overall software sector weakness. Article: Palo Alto slips 3%: Why this analyst still sees it as a top cyber pick Wall Street Analyst Weigh In Several research analysts have weighed in on PANW shares. Stephens raised their price objective on shares of Palo Alto Networks from $180.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 3rd. BTIG Research increased their price target on shares of Palo Alto Networks from $333.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. BNP Paribas Exane lifted their price target on Palo Alto Networks from $330.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Jefferies Financial Group set a $335.00 price objective on Palo Alto Networks and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Oppenheimer upped their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $331.48.
Get Our Latest Research Report on PANW
Palo Alto Networks Trading Down 2.0% NASDAQ PANW opened at $335.28 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $368.80. The company has a 50-day simple moving average of $297.43 and a 200-day simple moving average of $215.80. The firm has a market capitalization of $273.25 billion, a PE ratio of 274.82, a price-to-earnings-growth ratio of 12.70 and a beta of 0.91.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings data on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.06. Palo Alto Networks had a net margin of 7.95% and a return on equity of 10.53%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. Palo Alto Networks’s quarterly revenue was up 31.1% on a year-over-year basis. Palo Alto Networks has set its FY 2026 guidance at 3.770-3.790 EPS and its Q4 2026 guidance at 0.960-0.980 EPS. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 2.03 earnings per share for the current year.
Insider Activity In other Palo Alto Networks news, Director John P. Key sold 7,500 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $279.24, for a total value of $2,094,300.00. Following the sale, the director directly owned 12,500 shares in the company, valued at approximately $3,490,500. This trade represents a 37.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 1,100 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $285.08, for a total transaction of $313,588.00. Following the transaction, the chief accounting officer directly owned 81,636 shares of the company’s stock, valued at approximately $23,272,790.88. This trade represents a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 101,239 shares of company stock worth $27,174,360 over the last 90 days. Insiders own 1.40% of the company’s stock.
Palo Alto Networks Company Profile (Free Report)
Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.
The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.
Read More Five stocks we like better than Palo Alto Networks Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report).
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Pentair snížil celoroční výhled: tržby mají letos klesnout o 4 % až 7 % a upravený EPS na 4,60 až 4,80 USD. Firma zároveň očekává za 2. čtvrtletí tržby asi 930 milionů USD, meziročně o 17 % méně.
SAN DIEGO, July 23, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating Pentair plc (NYSE: PNR) on behalf of investors who suffered losses and whether those losses may be recoverable under federal securities laws.
If you purchased Pentair securities and suffered losses on your investment, you are encouraged to contact Johnson Fistel to learn more about the investigation. Click here to join the investigation. For more information, contact Jim Baker at [email protected] or (619) 814-4471. There is no cost or obligation to you.
On April 28, 2026, Pentair projected that second-quarter sales would increase approximately 1% and that full-year sales would grow approximately 2% to 4%. During the accompanying earnings call, management acknowledged that Pool channel partners could reduce purchases during the second and third quarters but stated that the Company had evaluated a wider range of Pool revenue and income scenarios and incorporated those assumptions into its updated guidance. Management further stated that it had reflected the expected second- and third-quarter sell-in pressure in its guidance.
On July 14, 2026, after the market closed, Pentair disclosed that preliminary second-quarter sales were expected to be approximately $930 million, representing a year-over-year decline of approximately 17%, compared with its previous forecast of approximately 1% year-over-year growth. Pentair attributed the results primarily to the adverse impact of Pool channel inventory and estimated that Pool inventory destocking reduced second-quarter Pool sales by approximately $170 million and Pool segment income by approximately $105 million. The Company stated that the inventory realignment with major channel partners was “more pronounced” than previously estimated.
Pentair also substantially reduced its full-year outlook. The Company now expects annual sales to decline approximately 4% to 7%, compared with its previous forecast of 2% to 4% growth, and reduced its adjusted earnings-per-share guidance to approximately $4.60 to $4.80 from approximately $5.30 to $5.40. Pentair estimated that Pool channel destocking and inventory right-sizing would reduce full-year Pool sales by approximately $250 million and Pool segment income by approximately $155 million. The Company separately announced that Chief Financial Officer Nicholas Brazis had departed on July 10, 2026, and that former Pentair CFO Bob Fishman had been appointed interim CFO.
Following the disclosure, Pentair shares declined approximately 22% in premarket trading on July 15, 2026, after closing at $75.68 on July 14.
Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. This press release may be considered a promotional communication. The attorney responsible for this communication is Frank J. Johnson.
Contact:
Johnson Fistel, PLLP
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James Baker, Investor Relations
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Carrier koupila 75F a posiluje tak svou strategii inteligentních budov. Spojení cloudových, AI a bezdrátových systémů má zjednodušit nasazení a podpořit autonomnější provoz budov.
Cloud-native building automation strengthens Carrier's digital ecosystem to enable increasingly intelligent and autonomous buildings
, /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced it has acquired 75F, a leading innovator in cloud-native, wireless, AI-enabled building automation systems. The acquisition strengthens Carrier's intelligent building capabilities across applications — from complex applied systems and high-growth data centers to light commercial and retrofits.
"Buildings are becoming intelligent and autonomous systems that continuously learn, adapt and optimize performance," said David Gitlin, Chairman & CEO, Carrier. "Through Carrier ClimaVision™, we have already seen firsthand the power of 75F's cloud-native, AI-enabled platform. This acquisition accelerates our strategy to create increasingly autonomous and self-optimizing buildings by bringing together connected equipment, intelligent controls and digital solutions in a unified platform that simplifies deployment, connects building data and enables agentic AI."
The combination of Carrier's WebCTRL® building controls install base, Abound™ predictive analytics capability and the Nlyte® operational intelligence platform with 75F's unified data layer and AI capabilities will create a differentiated end-to-end offering spanning equipment, controls, analytics and outcomes for buildings globally. Together, these integrated capabilities enable building operators to transition from traditional building management to fully autonomous operations that proactively identify maintenance opportunities, optimize energy consumption, intelligently manage assets and improve occupant comfort.
"75F was founded to fundamentally rethink building automation using cloud-native software, AI and wireless technologies," said Deepinder Singh, founder and CEO, 75F. "Joining Carrier enables us to accelerate that vision on a global scale. Together, we can help make intelligent buildings simpler to deploy, easier to operate and more accessible to customers everywhere."
75F's platform combines wireless sensors, intuitive controls, cloud software and AI-enabled automation designed to reduce installation time and simplify commissioning while optimizing energy efficiency and indoor air quality. Carrier plans to integrate 75F's generative and agentic AI as well as auto-commissioning capabilities into its large commercial platforms, including its Carrier QuantumLeap™ thermal management suite, improving deployment and real-time thermal performance for the rapidly growing data center market.
Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as external legal counsel to Carrier in connection with the transaction. Avisen Legal, PA acted as external legal counsel to 75F in connection with the transaction.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit carrier.com or follow Carrier on social media at @Carrier.
Carrier. For the World We Share.
Cautionary Statement
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for Carrier's future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident," "scenario" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to the acquisition of the 75F business, the integration of such business into Carrier's existing operations, strategies or transactions of Carrier, Carrier's plans with respect to its indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see Carrier's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Carrier assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Nucor i Steel Dynamics těží z vyšších cen oceli, ale oba stále brzdí slabá poptávka po rezidenční výstavbě. STLD navíc zvyšuje kapacitu i dividendu a má vyšší ROE než NUE.
Key Takeaways Nucor is expanding with new projects and acquisitions, while returning significant cash to shareholders. STLD is expanding steel and aluminum operations as stronger pricing and order activity support growth. Both steelmakers are benefiting from higher steel prices but still face weak residential construction demand. Nucor Corporation (NUE - Free Report) and Steel Dynamics, Inc. (STLD - Free Report) are two of the leading steel producers in the United States, often regarded as bellwethers for the domestic steel industry. Both have strong domestic footprints and play crucial roles in supplying steel for construction, automotive and industrial markets. With their similar business models and exposure to U.S. steel demand, they are natural candidates for a head-to-head comparison.
U.S. steel prices recovered in the fourth quarter of 2025, following the lows seen in the third quarter, and the momentum continued in the first half of 2026. Overall demand weakness and abundant steel mill output dragged benchmark hot-rolled coil (“HRC”) prices below $800 per short ton in late August and continuing through early September.
HRC prices have rebounded on major steel mills' price increases, extending lead times and tightening supply, partly due to plant outages and reduced imports driven by tariffs. The recovery has led to HRC prices surging to near $1,200 per short ton. With end-market demand improving, steel prices will likely continue to climb, benefiting U.S. steelmakers.
Let’s dive deep and closely compare the fundamentals of these two major U.S. steel producers to determine which one is a better investment option now amid the current steel pricing and demand environment.
The Case for NucorThe biggest steel producer in North America, Nucor, remains committed to boosting production capacity, which should drive profitable growth and strengthen its position as a low-cost producer. It is executing a series of growth projects to tap significant end-market demand. Nucor is seeing strong demand from non-residential construction & infrastructure, military & defense, and energy end markets and has a healthy order backlog. The company has already commissioned some of its growth projects with Gallatin and Brandenburg mills, showing strong production and shipment performance.
The construction of the 3 million tons per annum (tpa) sheet mill with a low-cost profile in West Virginia is in the final phases, and commissioning of operations is expected through 2026, with production expected in 2027. The new 500,000 tpa galvanizing line at the Berkeley County sheet mill in South Carolina is on track. Its greenfield project in Utah is also on course for production commencement by mid-2027.
The company has been focusing on growth through strategic acquisitions over the past several years. The recent acquisition of Southwest Data Products expanded its growing portfolio of solutions for data center customers. The buyout of Rytec Corporation will also allow Nucor to further expand beyond its core steelmaking businesses into related downstream businesses. Adding high-performance doors is expected to create cross-selling opportunities with other Nucor businesses and significantly expand its product portfolio for the commercial space.
Nucor is maximizing returns to its shareholders by leveraging its strong balance sheet and cash flows. It ended first-quarter 2026 with strong liquidity of roughly $3.2 billion, including cash and cash equivalents of around $2.2 billion. It also generated cash from operations of $886 million in first-quarter 2026.
The company returned around $1.2 billion to its shareholders in 2025 through dividends and share repurchases, representing nearly 70% of net earnings. Returns to its shareholders were $254 million in the first quarter. It remains committed to its policy of returning at least 40% of earnings to its shareholders. Nucor has returned roughly $630 million through share buybacks and dividends year to date through June 17, 2026.
NUE offers a dividend yield of 1% at the current stock price. Its payout ratio is 22% (a ratio below 60% is a good indicator that the dividend will be sustainable), with a five-year annualized dividend growth rate of 4.2%.
Nucor is exposed to demand weakness in certain markets such as heavy equipment, rail cars, truck and trailer and agriculture. Heavy equipment, transportation and logistics and other accounted for around 24% of its total external shipments for 2025. The company is seeing softness in heavy equipment, where it serves with plate steel products. High interest rates are adversely impacting demand for earth-moving machinery, tractors and rail cars.
Residential construction, a key end market for Nucor, remains another area of weakness. The construction sector has experienced a slowdown in the United States due to high interest rates, dampening steel demand in this market. Elevated borrowing costs and inflation have taken a bite out of the residential construction industry. The company has not seen any notable improvement in this market, and softness is expected to continue over the near term.
The Case for Steel DynamicsSteel Dynamics' customer-focused approach, along with market diversification and low-cost operating platforms, positions it for future growth opportunities. The company should also gain from its investments in beefing up capacity and upgrading facilities. Strong demand for steel across non-residential construction, agricultural and energy end markets also bodes well.
STLD is seeing strong customer order activity for flat-rolled steel. It is currently executing several projects that should add to its capacity and boost profitability. STLD is ramping up operations at its new state-of-the-art electric arc furnace flat-rolled steel mill in Sinton, TX. With a production capacity of roughly three million tons per year and the capability to make the latest generation of advanced high-strength steel products, it is expected to contribute significantly to revenues and profitability.
The company remains optimistic that domestic steel and aluminum consumption will stay strong through the remainder of 2026 and into 2027, supported by improving customer sentiment, stronger order activity, better pricing, domestic trade actions, manufacturing reshoring and infrastructure investments. Steel backlogs and lead times have extended, while customer inventory levels remain below historical norms.
Steel Dynamics also continues to advance the commissioning of its aluminum flat-rolled products mill. The third cold mill was undergoing commissioning, with commercial operations expected to begin in August 2026. Management expects aluminum volumes and profitability to improve sharply in the second half of 2026 as utilization and yields rise and startup costs subside. The aluminum flat roll mill produced 84,000 metric tons in the second quarter, representing roughly 50% capacity, and STLD expects to exit 2026 at a monthly production rate of at least 90% capacity.
The company is poised to benefit from strong cash flow generation, allowing it to invest in organic growth and maximize shareholder value. It generated solid cash flow from operations of $1.4 billion in 2025. It generated cash flow from operations of $427.9 million in the second quarter of 2026, up around 41.9% year over year. It ended the second quarter with strong liquidity of around $2 billion. It has ample liquidity to meet its debt obligations.
STLD, earlier this year, raised its quarterly dividend by 6% to 53 cents per share. It paid dividends of $149 million and repurchased shares worth $315 million in the first half of 2026. STLD offers a dividend yield of 0.9% at the current stock price. It has a payout ratio of 23%, with a five-year annualized dividend growth rate of about 14.6%.
Automotive is a significant market for Steel Dynamics. A slowdown in global automotive production curtailed steel consumption in this key end market in 2025. High interest rates, along with concerns over economic slowdown and tariffs, put pressure on the automotive market. Elevated interest rates and concerns over economic slowdown and tariffs are likely to put pressure on the automotive market in 2026. Automotive production this year in North America is expected to be similar to 2025. STLD also faces headwinds from the softness in residential construction. This may impact the company’s shipment volumes.
NUE & STLD: Price Performance, Valuation & Other ComparisonsThe NUE stock is up 66.8% over the past year, while STLD has gained 88.2% compared with the Zacks Steel Producers industry’s rise of 61.4%.
Image Source: Zacks Investment Research
NUE is currently trading at a forward 12-month earnings multiple of 12.97. This represents a roughly 13% premium when stacked up with the industry average of 11.48X.
Image Source: Zacks Investment Research
STLD is currently trading at a forward 12-month earnings multiple of 13.12, above NUE and the industry.
Image Source: Zacks Investment Research
STLD’s return on equity of 18.1% is higher than NUE’s 10.7%. This reflects Steel Dynamics’ efficient use of shareholder funds in generating profits.
Image Source: Zacks Investment Research
How the Zacks Consensus Estimate Compares for NUE & STLDThe Zacks Consensus Estimate for Nucor’s 2026 sales implies a year-over-year rise of 18%. The same for EPS suggests a 127.4% year-over-year increase. EPS estimates for 2026 have been trending higher over the past 60 days.
Image Source: Zacks Investment Research
The consensus estimate for Steel Dynamics’ 2026 sales and EPS implies a year-over-year rise of 19.5% and 108.9%, respectively. EPS estimates for 2026 have been trending northward over the past 60 days.
Image Source: Zacks Investment Research
NUE or STLD: Which Stock Holds the Edge?Both NUE and STLD currently have a Zacks Rank #3 (Hold), so picking one stock is not easy. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nucor and Steel Dynamics are ramping up growth plans, with both eyeing profitability through expansion. Both have solid financial health and remain committed to driving shareholder returns. Both are exposed to demand weakness in certain markets. STLD's higher dividend growth rate and superior return on equity suggest that it may offer better investment prospects in the current market environment. Considering these, STLD looks like the smarter bet right now.
Nasdaq (NDAQ - Free Report) came out with quarterly earnings of $1.07 per share, beating the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $0.85 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +9.18%. A quarter ago, it was expected that this exchange operator would post earnings of $0.93 per share when it actually produced earnings of $0.96, delivering a surprise of +3.23%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Nasdaq, which belongs to the Zacks Securities and Exchanges industry, posted revenues of $1.5 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.87%. This compares to year-ago revenues of $1.31 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Nasdaq shares have lost about 6.4% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Nasdaq?While Nasdaq 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 Nasdaq was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.00 on $1.44 billion in revenues for the coming quarter and $3.93 on $5.79 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, Securities and Exchanges is currently in the bottom 10% 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, S&P Global (SPGI - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on July 28.
This independent ratings and analytics provider is expected to post quarterly earnings of $4.49 per share in its upcoming report, which represents a year-over-year change of +1.4%. The consensus EPS estimate for the quarter has been revised 8.3% lower over the last 30 days to the current level.
S&P Global's revenues are expected to be $3.65 billion, down 2.9% from the year-ago quarter.
Rocket Lab od květnového vrcholu kolem 151 USD spadla o více než 50 % a Piper Sandler ji při zahájení pokrytí s ratingem Neutral a cílovou cenou 83 USD označila za stále drahou. Akcie po této zprávě v jedné seanci klesly o více než 11 %.
This is a fair market value price provided by Massive. Learn more.
52-Week Range$37.57▼
$151.00Price Target$110.18
Rocket Lab NASDAQ: RKLB has been one of the most punished names in the market over the past two months.
After peaking near $151 in May, the stock collapsed toward the mid-$60s, a drawdown of more than 50% from its 52-week high, wiping out the entire year's gains and then some.
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For a company that spent the first half of 2026 as a market darling and leader in the space sector, the reversal has been brutal.
And yet, one uncomfortable question keeps surfacing even after a decline this steep: is Rocket Lab still too expensive?
Piper Sandler Says the Valuation Is the ProblemThe most pointed version of that concern came from Piper Sandler. On July 15, Piper Sandler initiated coverage on Rocket Lab with a Neutral rating and an $83 price target, and the reasoning was explicit. Even after a near-50% sell off from its highs, the firm argued, the stock remains fairly expensive relative to the complex profile of vertically integrated space companies.
The call sent shares down more than 11% in a single session and gave voice to what a lot of investors may have been quietly thinking. Rocket Lab remains one of the most compelling long-term stories in the space sector, but a great business does not automatically make a great stock at any price.
The numbers may help explain some of the caution. Rocket Lab trades at roughly 66 times trailing sales, an extraordinary multiple for any company, let alone one that is not yet consistently profitable. The company generated $601.8 million in trailing revenue in fiscal year 2025, but posted a net loss of $198 million, with net margins of negative 27%.
For a stock to command a valuation like that, the market has to price in years of flawless execution and enormous future growth. And when sentiment shifts, as it has across the entire space sector since SpaceX's NASDAQ: SPCX IPO, it's those types of stocks that fall the hardest.
The Bull Case Has Not DisappearedThat said, the fundamental momentum behind Rocket Lab remains genuinely impressive, which is why this makes for an interesting debate rather than a dismissal. The business is firing on all cylinders operationally. First-quarter revenue climbed 63% from a year earlier to a record $200.35 million, and the contracted backlog reached a record $2.2 billion.
The recent news flow has been relentless, too. Just this week, Rocket Lab secured a $266 million U.S. Air Force contract and was named one of seven companies eligible for a Space Force launch program carrying a $17 billion ceiling. The pending $8 billion acquisition of Iridium would help transform the company into a vertically integrated space operator with a recurring services revenue stream. However, it also introduces dilution concerns that have weighed on the stock.
Then there is Neutron. The company's medium-lift rocket remains on track for its debut later this year. As CEO Peter Beck has emphasized, the Neutron timeline is the single most important variable for the long-term thesis. A successful debut would open an entirely new and far larger revenue opportunity than Electron has ever addressed.
A Balanced ViewSo where does that leave investors? Rocket Lab is executing brilliantly and building one of the most complete franchises in commercial space. At the same time, it remains priced for perfection, which is precisely the vulnerability Piper Sandler flagged.
Health Indicator for Rocket Lab TradeSmith's Health IndicatorA long-term volatility-based measure designed for securities held 12 months or longer.
Green: Strong and healthy uptrend with normal pullbacks.
Yellow: Significant pullback but still within expected volatility.
Red: Dropped beyond expected volatility; considered unhealthy.
Yellow Zone (2w+)
1-Year History
Jul 25 Oct 25 Jan 26 Apr 26 Jul 26
For the last 2 weeks, RKLB's financial health has been in the Yellow zone, according to TradeSmith.
The stock's TradeSmith Health Indicator has been in the Yellow Zone for two weeks, and insider selling, including sales from CEO Peter Beck, has added to the near-term caution.
Encouragingly, the broader analyst community remains more constructive than Piper Sandler. The consensus rating across 22 analysts is Moderate Buy, with an average price target of $110.18 that implies close to 60% upside. Even the Street-low target of $60 sits only modestly below where the stock trades today.
Attention now turns to Q2 earnings on August 6. That report, plus any fresh detail on the Neutron timeline and the Iridium deal, should help clarify whether this correction was an overdue reset or the opening of a more durable entry point. For long-term believers, a 55% discount might certainly be tempting. But Piper Sandler's warning still deserves to be heard: even now, this is not a cheap stock.
Should You Invest $1,000 in Rocket Lab Right Now?Before you consider Rocket Lab, you'll want to hear this.
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Pons chystá V2 s integrací Uniswap V4, ETH bonding curve a výplatami pro tvůrce v ETH. Přidá také obchodní páry s tokenizovanými aktivy, včetně USDG, NVDA, AAPL a HOOD.
Pons has unveiled its V2 upgrade plan, introducing an ETH-based bonding curve, Uniswap V4 integration, creator payouts in ETH, and support for tokenized real-world asset trading pairs as Robinhood Chain’s competition among token launchpads continues to intensify.
Summary
Pons has announced its V2 upgrade with an ETH based bonding curve, Uniswap V4 integration, and creator payouts in ETH. The update will support custom trading pairs including tokenized assets such as USDG, NVDA, AAPL, and HOOD while removing trading restrictions for regular wallets. The release comes as Robinhood Chain’s launchpad market continues to evolve after Noxa’s exit and growing competition among rival platforms. According to an announcement published by the Pons team, the update is scheduled for next week and will redesign how tokens launch, trade, and transition into decentralized liquidity pools on Robinhood Chain. The team said the contracts are still undergoing audits with two partners, meaning every feature remains subject to change until deployment.
Pons said the latest version was shaped by user feedback gathered during the platform’s first weeks of operation. The team also said it had stabilized the protocol with infrastructure partners after dealing with several attacks following its launch and plans to continue building products for Robinhood Chain traders.
Bonding curve and new trading model One of the biggest changes in Pons V2 is the replacement of its previous launch model with an ETH-denominated bonding curve.
The team said trading restrictions will remain configurable only for developer wallets while all other wallets will be able to trade freely. According to Pons, the change is intended to eliminate failed transactions experienced by third-party trading applications under the earlier version.
Developers will also be able to launch tokens against custom trading pairs instead of ETH alone. The announcement listed assets including USDG, NVDA, AAPL, and HOOD as examples, allowing deployers to create markets tied to tokenized real-world assets or other supported tokens.
The expansion comes as Robinhood Chain continues building infrastructure around tokenized financial products. As crypto.news previously reported, Robinhood has already introduced transferable stock tokens backed one-for-one by underlying shares while positioning the Ethereum Layer 2 network as infrastructure for tokenized securities and decentralized finance.
Earlier this week, a FalconX research primer found that Robinhood Chain had accumulated approximately $431 million in total value locked, nearly $400 million in stablecoin market capitalization, and close to $9 billion in cumulative decentralized exchange volume within three weeks of launch. The report also found that more than 80% of decentralized exchange activity still comes from memecoin trading despite the network’s long-term focus on tokenized assets.
New fee structure and automatic graduation Pons also plans to redesign how creators and the protocol collect fees.
According to the announcement, V2 will use Uniswap V4 pools and Hooks so creators receive payouts in ETH by default instead of accumulating fees in the launched token. The protocol said fee conversion will occur within the liquidity pool, allowing creators to avoid receiving small balances of memecoins that might otherwise be sold on the open market.
Deployers seeking exposure to their own tokens will need to purchase them through the market like other participants rather than receiving them automatically through protocol mechanics.
Liquidity migration has also been redesigned. Instead of launching directly into Uniswap V3 pools, new tokens will remain on the bonding curve until reaching 4.2 ETH, the same graduation threshold used previously.
Once that level is reached, the protocol said an automated two-step process will transfer liquidity into a permanently locked full-range Uniswap V4 position. If a token is paired with an asset other than ETH, the accumulated ETH will first be swapped into the selected quote asset before the liquidity pool is created.
According to the team, permanently locking the resulting liquidity position is intended to prevent liquidity from being withdrawn after graduation.
Creator payouts and governance features Alongside ETH payouts, Pons said creators will have the option at deployment to receive protocol fees in another supported asset, including stablecoins or tokenized real-world assets such as USDG.
The team said the feature allows deployers to receive more predictable payouts or gain exposure to different assets instead of relying entirely on their token’s market performance.
Governance tools are also being updated. Pons said V2 will introduce a CTO feature protected by a three-day timelock after an oversight in the V1 contracts prevented protocol administrators from changing the fee recipient. According to the announcement, the delay is intended to give communities advance notice and time to react if a malicious attempt is made to take control of a project.
Another planned addition is an optional transaction tax applied to token purchases and sales. The protocol said integration partners could use the collected fees for yield generation or other holder incentives through reflection-style token models.
Competition grows after Noxa’s exit The update arrives as Robinhood Chain’s launchpad market continues to evolve following the departure of its earliest market leader.
As crypto.news previously reported, Noxa halted new token launches on July 11 after generating more than $12 million in protocol fees and supporting over 60,000 token launches, accounting for roughly 75% of all deployments on Robinhood Chain. The platform later became unavailable before announcing that future trading fees would be redirected entirely to token creators.
Noxa’s shutdown was followed by declines in several of the chain’s most actively traded memecoins, including CASHCAT, while rival launchpads such as flap.sh, trensh.today, bankr, and Pons began competing for displaced activity.
Although Robinhood Chain has continued attracting users and liquidity, FalconX said speculative memecoin trading remains the network’s largest source of decentralized exchange volume. The addition of custom RWA trading pairs alongside updated memecoin launch mechanics positions Pons to participate in both areas of the ecosystem as Robinhood Chain expands its on-chain financial products.
The Pons team said the V2 contracts are expected to be deployed next week after ongoing audits are completed, with token launches initially taking place through the platform’s ponsfamily.com domain.
Ameriprise Financial vykázala ve 2. čtvrtletí vyšší čistý zisk díky růstu tržních cen, které zvýšily hodnotu poplatkových aktiv. Čistý zisk stoupl na 1,11 miliardy USD, tedy 11,98 USD na akcii.
A screen displays the logo and trading information for Ameriprise Financial, Inc. on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 29, 2023. REUTERS/Brendan... Purchase Licensing Rights, opens new tab Read more
July 23 (Reuters) - Asset and wealth manager Ameriprise Financial (AMP.N), opens new tab reported a rise in its second-quarter profit on Thursday, driven by a market rally that boosted the value of its fee-generating assets.
Here are more details from the earnings report:
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Ameriprise's assets under management, administration and advisement came in at $1.8 trillion during the three months ended June 30, up 14% from a year ago.
Assets under management and the fees earned by managers depend on two factors — money flowing in and out of the funds and the performance of investments.
Ameriprise's management and financial advice fees rose 18% to $3.06 billion during the second quarter, while its net investment income remained almost flat at $893 million.
Total client assets at its advice and wealth management business grew 15% to $1.2 trillion.
Ameriprise's second-quarter profit rose to $1.11 billion, or $11.98 per share, compared with $1.06 billion, or $10.73 per share, a year earlier.
Shares of the company have gained a little over 7% in 2026, underperforming the broader benchmark S&P 500 index (.SPX), opens new tab.
Reporting by Pritam Biswas in Bengaluru; Editing by Sahal Muhammed
Our Standards: The Thomson Reuters Trust Principles., opens new tab
BancaStato ve spolupráci se Sygnum nabízí klientům v e-banking aplikacích nákup, prodej a držení BTC, ETH, LTC a SOL. Jde o první banku na platformě Avaloq SaaS, která to nabízí přes API Sygnum.
BancaStato Opens Crypto Trading Through Sygnum PartnershipBancaStato, the cantonal bank serving Switzerland's Italian-speaking Ticino region, has joined Sygnum's business-to-business (B2B) banking platform to offer crypto asset services. The integration allows BancaStato customers to buy, sell, and hold four crypto assets, including $BTC, $ETH, $LTC, and $SOL, through the bank's existing web and mobile banking apps.
Market orders can be entered by asset quantity or cash value, allowing customers to manage crypto positions alongside their traditional portfolios. BancaStato clients gain exposure to these assets through a regulated channel rather than a standalone exchange, and their holdings rest in Sygnum's custody rather than on the bank's own balance sheet.
A Streamlined Technical SetupThe integration connects Sygnum's API directly to Avaloq's platform, allowing customers to access crypto trading from their existing banking app. The setup also removes the need for a separate order management system, which the companies said reduces operational complexity and makes it easier to add new features.
According to Fritz Jost, Sygnum's chief B2B officer, BancaStato is the first bank using Avaloq's software-as-a-service platform to let customers buy, hold, and sell crypto assets through its e-banking platforms using Sygnum's API.
BancaStato joins more than 25 financial institutions using Sygnum's B2B platform to offer regulated digital asset services. Sygnum said its partner banks give more than a third of the Swiss population a route to own digital assets. The move also fits a broader trend among Swiss lenders. Zürcher Kantonalbank, the country's fourth-largest bank, has rolled out Bitcoin trading and custody, while St. Galler Kantonalbank opened Bitcoin buying and custody to retail clients.
Sygnum holds a Swiss banking license and, since June 30, 2026, a Crypto-Asset Service Provider license under the EU's Markets in Crypto-Assets Regulation, granted by Liechtenstein's Financial Market Authority.
Sources:
Cointelegraph: BancaStato Launches Bitcoin Trading With Sygnum
CryptoAdventure: BancaStato Adds Bitcoin, Ether, Litecoin And Solana Trading Through Sygnum
USD/CAD klesl pod 1,4100 na zhruba 1,4080, protože rostoucí ceny ropy a slabší dolar podpořily kanadský dolar. Nová americká 50% cla na vybrané kanadské zboží ale dál drží pár pod tlakem.
Rising crude oil prices and a weakening greenback pushed USD/CAD back below 1.4100, threatening a return to its July downward channel Central bank divergence remains a risk, as a cautious Bank of Canada (BoC) and hawkish Federal Reserve could limit further loonie gains The Bank of Canada’s steady policy rate keeps interest rate differentials tilted in favor of greenback dip-buyers on deeper pullbacks The US dollar briefly halted the Canadian dollar’s recent climb earlier this week. But it started falling again yesterday and still looks weak today. Now trading below 1.4100, around 1.4080, investors wonder if USD/CAD will return to the steady decline it had between late June and mid-July.
What Broke the Downtrend The brief pause in the downtrend had a clear cause. On Monday, the US administration announced new 50% tariffs on various Canadian goods, including wine, dairy, and cement. This action was stated as a response to what the US described as discriminatory practices against American products in Canada.
Canadian Prime Minister Mark Carney called this the latest in a series of unilateral US trade actions. He said Canada had “merely matched” prior US measures. Headlines like that usually hit the loonie first and hardest, which explains why the dollar strengthened Monday and Tuesday.
What Is Driving the Loonie’s Rebound? A significant increase in global crude oil prices is the primary driver behind the Canadian dollar’s resurgence. As a major exporter of commodities, Canada benefits directly from rising crude prices. Oil prices have reached new multi-week highs, which has helped to offset recent domestic challenges and provide strong fundamental support for the Canadian dollar.
Potential Risks Beneath the Surface Despite the current trend, a return to a consistent downtrend is not guaranteed. The tariffs announced on Monday will take effect in 30 days. If trade tensions escalate further before then, sentiment towards Canadian assets could shift negatively, irrespective of oil prices or interest rate movements.
While the current trend favors a stronger Canadian dollar, underlying risks require careful assessment. Uncertainties surrounding the USMCA trade agreement renewal and potential tariff discussions remain significant factors that could strengthen the US dollar if tensions increase.
Market expectations indicate that the Bank of Canada (BoC) might maintain a supportive monetary policy stance, influenced by recent lower domestic consumer price index (CPI) figures. In contrast, persistent US inflation data suggests the Federal Reserve is likely to continue its restrictive monetary policy for a longer period.
Investors should consider USD/CAD with a balanced view. Those expecting further gains in the Canadian dollar might explore strategies that leverage CAD strength, such as hedging US dollar exposure or investing in Canadian assets sensitive to commodity prices.
Effective risk management remains crucial. Diversification and close attention to central bank statements, oil market developments, and trade news will be essential for navigating market fluctuations. Adopting a flexible approach that adapts to evolving data, rather than making large directional bets, is likely to better serve long-term investment goals.
Is USD/CAD returning to its prior downward channel?
The recent weakness in the US dollar suggests a potential return to the late June to mid-July downtrend if current momentum continues.
What risks could impact USD/CAD trajectory?
Trade tensions related to the USMCA, geopolitical shocks in the energy sector, and differing monetary policies between the Federal Reserve and the Bank of Canada present notable risks of upward movement for the pair.
How do central bank interest rate expectations affect the USD/CAD outlook?
A potentially cautious Bank of Canada alongside a hawkish Federal Reserve could limit severe downside losses for USD/CAD.
TransUnion uvedla, že ztráty z podvodů v autoúvěrech výrazně rostou, i když počet incidentů klesá. U first-party fraud vzrostly mezi 3. čtvrtletím 2018 a 3. čtvrtletím 2025 z 88 mil. USD na 323 mil. USD.
CHICAGO, July 23, 2026 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) today released new research revealing that despite a decline in incidents across many fraud types, fraud losses in auto lending have increased significantly in recent years. The findings point to a fraud environment impacting dealerships and auto lenders where fewer events drive greater financial losses. Today’s fraudsters have evolved to concentrate on higher-value opportunities throughout the lending lifecycle, especially as new and used vehicle prices reach heightened levels.
Auto lenders are facing substantially higher fraud-related losses across multiple fraud categories. Between Q3 2018 and Q3 2025, losses tied to first-party, third-party and synthetic fraud increased significantly. First-party fraud, which occurs when an individual deliberately provides false information or misrepresents themselves to obtain goods, services or credit, experienced the largest increase. It saw estimated losses rising from $88 million to $323 million—an increase of approximately 267% over the period.
Gaps in fraud detection, especially resolving identities, open the door to large charge-off losses by lenders and dealerships that most often are not found out until weeks or months later and are not recoverable.
“Fraudsters are becoming increasingly targeted and efficient,” said Satyan Merchant, senior vice president and automotive and mortgage business leader at TransUnion. “While fraud volume remains an important indicator of risk, we are seeing criminals drive significantly higher losses through fewer, more strategic attacks by targeting high-value opportunities and exploiting vulnerabilities across the lending lifecycle. For lenders, effectively managing fraud risk requires a comprehensive view of both frequency and financial impact—not only how often fraud occurs, but also the severity of each incident and its potential effect on the business.”
Auto Lending Fraud Losses Saw Significant Growth Across Multiple Fraud Segments
Fraud TypeQ3 2018Q3 2025First-party Fraud$88 million$323 millionThird-party Fraud$18 million$47 millionSynthetic Fraud$93 million$208 millionSource: TransUnion US consumer credit database
Third-party fraud, which involves the use of another person’s identity without their knowledge or consent, is a clear example of the divergent trends of incidences and losses. In auto lending, the incidence rate in Q3 2025 was less than half its Q3 2018 level, yet associated losses were 2.6 times higher. Similar trends were observed for other types of fraud. These gaps show how fraudsters are becoming more strategic and executing fewer schemes while targeting larger loan balances and generating greater losses.
Though less common, third-party fraud can produce substantial losses due to the high balances associated with fraudulent auto loans. Some of the largest losses occur among traditionally lower-risk, higher-credit tiers, where fraud incidence is lower, but loss severity is significantly higher.
A Growing Threat: Credit Washing and Hidden Credit Risk
Beyond traditional fraud activity, lenders are also confronting emerging forms of identity and credit manipulation that can mask underlying risk. Credit washing, in particular, is creating new challenges by artificially enhancing the creditworthiness of some borrowers.
Credit washing conceals critical risk signals and undermines the accuracy of credit-based decisioning. Consumers with suppressed negative tradelines can exhibit risk levels similar to much lower credit tiers despite appearing prime or above prime at origination. In some cases, they are several times more likely to experience early charge-off in the 12 months following origination than borrowers without suppressed credit events.
Charge-off Increases Among Credit Washers Across All Risk Tiers
Credit Risk Tier at OriginationSubsequent Percentage Charge-Off in 12 Months Post Auto
OriginationCredit WasherOther ConsumersSubprime14.8%
10.3%
Near prime6.7%
3.6%
Prime5.6%
1.2%
Prime plus4.8%
0.4%
Super prime3.6%
0.1%
Source: TransUnion US consumer credit database
Data observation period: 2024 originations sample set
“Credit washing is one of the more concerning emerging trends because it fundamentally distorts how lenders assess risk,” said Naureen Ali, U.S. head of fraud at TransUnion. “When negative credit information is removed or suppressed, consumers can appear more creditworthy than they really are, leading to a higher likelihood of early default.”
In 2025, roughly 5% of U.S. consumers have had charged-off accounts suppressed for atypical reasons, with an estimated $10 billion in debt erased from credit reports, creating disproportionate risk and decisioning blind spots. These findings reinforce the need for lenders to look beyond traditional credit attributes and incorporate deeper identity intelligence into their processes.
Ali continued, “The goal of fraud solutions like TransUnion's suite of fraud solutions is to help lenders and dealers uncover and identify hidden risks. Whether it is credit washing or identity-based fraud, by combining identity verification and linkage analytics, synthetic ID detection, and anomalies on the credit file, TransUnion can help lenders uncover those hidden risks earlier and allow lenders to make more informed lending decisions.”
To learn more about TransUnion’s fraud solutions and how they can help auto lenders uncover identity-related risks, detect fraud earlier and make more informed lending decisions throughout the account lifecycle, please 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.
Visteon oznámil za 2. čtvrtletí tržby 960 mil. USD, čistý zisk 49 mil. USD a upravený EBITDA 116 mil. USD. Zároveň spustil program zpětného odkupu akcií za 200 mil. USD.
Sales of $960 million with Growth-over-Market of 4%1 Net income attributable to Visteon of $49 million Adjusted EBITDA of $116 million, representing a 12.1% margin Operating cash flow of $37 million and adjusted free cash flow of $20 million Strong balance sheet with net cash of $351 million at quarter end New business wins of $2.0 billion support strategic objectives for long-term growth $200 million accelerated share repurchase program Second Quarter Results
Visteon reported net sales of $960 million, compared to $969 million in the prior year. Sales reflected 4% growth-over-market1, driven by launch ramps and regional execution, despite lower customer vehicle production and legacy program roll-offs.
Gross margin in the second quarter was $118 million. Net income attributable to Visteon was $49 million or $1.80 per diluted share. Adjusted EBITDA, a non-GAAP measure defined below, was $116 million, reflecting continued operational discipline in a dynamic supply chain environment. Margin performance in the quarter benefited from customer commercial recoveries and disciplined cost execution, partially offset by higher supplier costs and continued engineering investments.
For the first six months of 2026, cash from operations was $43 million, capital expenditures were $61 million, and adjusted free cash flow, a non-GAAP measure defined below, was an outflow of $3 million. The Company ended the second quarter with cash of $650 million and debt of $299 million. The Company's strong balance sheet, with a net cash position of $351 million, provides flexibility to continue investing in the business while supporting capital allocation priorities.
Visteon secured approximately $2.0 billion in new business during the second quarter, reflecting continued momentum across the Company's strategic growth areas. Highlights included an additional next-generation SmartCore™ high-performance compute ("HPC") award with another premium vehicle brand of a large Chinese OEM, further strengthening the Company's position in next-generation cockpit computing. The quarter also included strategic awards with North American OEMs, additional wins in India, as well as commercial vehicle and two-wheeler awards. These awards reflect ongoing diversification of the Company across customers and markets.
Visteon launched 24 new products during the second quarter across 11 customers, demonstrating continued execution across its strategic growth areas. Highlights included an integrated center and passenger display system for a German premium OEM, ongoing expansion of Renault displays, a digital cluster on the Hyundai Exter, and a vehicle control unit for Royal Enfield's first electric motorcycle, the "Flying Flea." These launches demonstrate ongoing adoption of Visteon's advanced cockpit portfolio and support the industry's transition toward software-defined vehicles.
"Our second quarter results support the strategic priorities we outlined at Investor Day," said President and CEO Sachin Lawande. "Our SmartCore™ HPC momentum, progress across our strategic growth areas and successful product launches reinforce the long-term growth objectives we shared with investors."
Accelerated Share Repurchase Program
The Company today announced that it has entered into a $200 million accelerated share repurchase ("ASR") agreement under its previously announced $800 million share repurchase authorization. The ASR is expected to be completed early in the fourth quarter of 2026.
The ASR reflects the Company's capital allocation priorities, supporting shareholder returns while maintaining the flexibility to invest in future growth.
About Visteon
Visteon (NASDAQ: VC) is advancing mobility through innovative technology solutions that enable a software-defined future. The Company's state-of-the-art product portfolio merges digital cockpit innovations, advanced displays, AI-enhanced software solutions, and integrated EV architecture solutions. With expertise spanning passenger vehicles, commercial transportation, and two-wheelers, Visteon partners with global OEMs to create safer, cleaner, and more connected journeys. Headquartered in Van Buren Township, Michigan, Visteon operates in 17 countries, employing a global network of innovation centers and manufacturing facilities. For more information, visit visteon.com.
Conference Call and Presentation
Today, Thursday, July 23, at 9 a.m. ET, the Company will host a conference call for the investment community to discuss the quarter's results and other related items. The conference call is available to the general public via a live audio webcast.
The dial-in numbers to participate in the call are:
(Call approximately 10 minutes before the start of the conference.)
The conference call and live audio webcast, related presentation materials and other supplemental information will be accessible in the Investors section of Visteon's website.
__
Use of Non-GAAP Financial Information
Because not all companies use identical calculations, adjusted EBITDA, adjusted net income, adjusted EPS, free cash flow and adjusted free cash flow used throughout this press release may not be comparable to other similarly titled measures of other companies.
Forward-looking Information
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "will," "may," "designed to," "outlook," "believes," "should," "anticipates," "plans," "expects," "intends," "estimates," "forecasts" and similar expressions identify certain of these forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, including, but not limited to:
uncertainties in U.S. or foreign policy regarding trade agreements, tariffs or other international trade policies and any response to such actions by foreign countries; continued and future impacts of the geopolitical conflicts and related supply chain disruptions, including but not limited to the conflicts in the Middle East, Russia and East Asia and the possible imposition of sanctions; significant and prolonged shortages of, or unrecoverable price increases in, critical components, including but not limited to semiconductors such as DRAM, particularly where such components are sourced from sole or primary suppliers; failure of the Company's joint venture partners to comply with contractual obligations or to exert influence or pressure in China; conditions within the automotive industry, including (i) the automotive vehicle production volumes and schedules of our customers, (ii) the financial condition of our customers and the effects of any restructuring or reorganization plans that may be undertaken by our customers, including work stoppages at our customers, and (iii) possible disruptions in the supply of commodities to us or our customers due to financial distress, work stoppages, natural disasters or civil unrest; our ability to satisfy future capital and liquidity requirements; including our ability to access the credit and capital markets at the times and in the amounts needed and on terms acceptable to us; our ability to comply with financial and other covenants in our credit agreements; and the continuation of acceptable supplier payment terms; our ability to access funds generated by foreign subsidiaries and joint ventures on a timely and cost-effective basis; our ability to grow our business with Chinese domestic OEMs and to compete with Chinese domestic suppliers as they expand their market-share outside of China; general economic conditions, currency exchange rates, interest rates, changes in foreign laws, regulations or trade policies, including export controls of certain parts or materials or political stability in foreign countries where Visteon procures materials, components, or supplies or where its products are manufactured, distributed, or sold; disruptions in information technology systems including, but not limited to, system failure, cyber-attack, malicious computer software (malware including ransomware), unauthorized physical or electronic access, or other natural or man-made incidents or disasters; increases in raw material and energy costs and our ability to offset or recover these costs; increases in our warranty, product liability and recall costs or the outcome of legal or regulatory proceedings to which we are or may become a party; changes in laws, regulations, policies or other activities of governments, agencies and similar organizations, domestic and foreign, that may tax or otherwise increase the cost of, prohibit, or otherwise affect, the manufacture, licensing, distribution, sale, ownership or use of Visteon's or its suppliers' products or assets; and those factors identified in our filings with the SEC (including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as updated by our subsequent filings with the Securities and Exchange Commission). Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this release, and which we assume no obligation to update. The financial results presented herein are preliminary and unaudited; final financial results will be included in the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2026. New business wins and re-wins do not represent firm orders or firm commitments from customers, but are based on various assumptions, including the timing and duration of product launches, vehicle production levels, customer price reductions and currency exchange rates.
Visteon Contacts:
Media:
[email protected]
Investors:
[email protected]
VISTEON CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(In millions except per share amounts)
(Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Net sales
$ 960
$ 969
$ 1,914
$ 1,903
Cost of sales
(842)
(828)
(1,683)
(1,624)
Gross margin
118
141
231
279
Selling, general and administrative expenses
(46)
(48)
(100)
(95)
Restructuring, net
1
(1)
(17)
(1)
Interest income, net
3
2
5
3
Equity in net income (loss) of non-consolidated affiliates
2
2
4
4
Other income (expense), net
(2)
1
2
2
Income (loss) before income taxes
76
97
125
192
Provision for income taxes
(26)
(22)
(42)
(48)
Net income (loss)
50
75
83
144
Less: Net (income) loss attributable to non-controlling interests
(1)
(4)
(3)
(6)
Net income (loss) attributable to Visteon Corporation
$ 49
$ 71
$ 80
$ 138
Comprehensive income (loss)
$ 57
$ 112
$ 79
$ 201
Less: Comprehensive (income) loss attributable to non-controlling
interests
1
(9)
(2)
(12)
Comprehensive income (loss) attributable to Visteon Corporation
$ 58
$ 103
$ 77
$ 189
Basic earnings (loss) per share attributable to Visteon Corporation
$ 1.84
$ 2.60
$ 2.99
$ 5.07
Diluted earnings (loss) per share attributable to Visteon Corporation
$ 1.80
$ 2.57
$ 2.93
$ 5.02
Average shares outstanding (in millions)
Basic
26.7
27.3
26.8
27.2
Diluted
27.2
27.6
27.3
27.5
VISTEON CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
June 30,
December 31,
2026
2025
ASSETS
Cash and equivalents
$ 648
$ 771
Restricted cash
2
2
Accounts receivable, net
666
613
Inventories, net
328
269
Other current assets
158
130
Total current assets
1,802
1,785
Property and equipment, net
524
524
Intangible assets, net
233
222
Right-of-use assets
131
126
Investments in non-consolidated affiliates
25
29
Deferred tax assets
512
511
Other non-current assets
229
189
Total assets
$ 3,456
$ 3,386
LIABILITIES AND EQUITY
Short-term debt
$ 15
$ 18
Accounts payable
620
540
Accrued employee liabilities
85
122
Current lease liability
24
21
Other current liabilities
271
291
Total current liabilities
1,015
992
Long-term debt, net
284
283
Employee benefits
80
88
Non-current lease liability
111
109
Deferred tax liabilities
47
51
Other non-current liabilities
230
212
Stockholders' equity:
Common stock
1
1
Additional paid-in capital
1,398
1,398
Retained earnings
2,897
2,838
Accumulated other comprehensive loss
(243)
(240)
Treasury stock
(2,442)
(2,429)
Total Visteon Corporation stockholders' equity
1,611
1,568
Non-controlling interests
78
83
Total equity
1,689
1,651
Total liabilities and equity
$ 3,456
$ 3,386
VISTEON CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
OPERATING
Net income (loss)
$ 50
$ 75
$ 83
$ 144
Adjustments to reconcile net income (loss) to net cash provided from
(used by) operating activities:
Depreciation and amortization
29
27
58
52
Non-cash stock-based compensation
12
12
24
23
Equity in net loss (income) of non-consolidated affiliates, net of
dividends remitted
(2)
(2)
(4)
(4)
Tax valuation allowance expense (benefit)
—
(6)
—
(8)
Other non-cash items
1
(3)
1
(4)
Changes in assets and liabilities:
Accounts receivable
13
21
(58)
(3)
Inventories
(12)
24
(63)
4
Accounts payable
(3)
(11)
86
40
Other assets and other liabilities
(51)
(42)
(84)
(79)
Net cash provided from operating activities
37
95
43
165
INVESTING
Capital expenditures, including intangibles
(25)
(31)
(61)
(66)
Acquisition of business, net of cash acquired
(20)
(50)
(20)
(50)
Net investment hedge transactions
—
1
(12)
2
Other
—
(2)
—
(1)
Net cash used by investing activities
(45)
(82)
(93)
(115)
FINANCING
Borrowing on debt
2
—
2
—
Principal repayment of term debt facility
—
(5)
(4)
(9)
Dividend to shareholders
(10)
—
(20)
—
Dividends to non-controlling interests
(9)
(14)
(9)
(18)
Repurchase of common stock
(6)
—
(36)
(7)
Stock-based compensation tax withholding payments
(2)
(1)
(9)
(7)
Proceeds from the exercise of stock options
4
—
8
3
Contingent consideration payments
(7)
—
(7)
—
Other
(2)
—
(2)
—
Net cash used by financing activities
(30)
(20)
(77)
(38)
Effect of exchange rate changes on cash
6
20
4
33
Net increase (decrease) in cash, equivalents, and restricted cash
(32)
13
(123)
45
Cash, equivalents, and restricted cash at beginning of the period
682
658
773
626
Cash, equivalents, and restricted cash at end of the period
$ 650
$ 671
$ 650
$ 671
VISTEON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In millions except per share amounts)
(Unaudited)
Adjusted EBITDA: Adjusted EBITDA is presented as a supplemental measure of the Company's performance that management believes is useful to investors because the excluded items may vary significantly in timing or amounts and/or may obscure trends useful in evaluating and comparing the Company's operating activities across reporting periods. The Company defines adjusted EBITDA as net income attributable to the Company adjusted to eliminate the impact of depreciation and amortization, net restructuring, provision for (benefit from) income taxes, non-cash, stock-based compensation expense, net interest (income) expense, net income (loss) attributable to non-controlling interests, equity in net (income) loss of non-consolidated affiliates, and other gains and losses not reflective of the Company's ongoing operations. Because not all companies use identical calculations, this presentation of adjusted EBITDA may not be comparable to similarly titled measures of other companies.
Three Months Ended
Six Months Ended
Estimated
June 30,
June 30,
Full Year
Visteon:
2026
2025
2026
2025
2026
Net income (loss) attributable to Visteon Corporation*
$ 49
$ 71
$ 80
$ 138
$ 190
Depreciation and amortization
29
27
58
52
120
Restructuring, net
(1)
1
17
1
25
Provision for (benefit from) income taxes*
26
22
42
48
90
Non-cash, stock-based compensation expense
12
12
24
23
50
Interest (income) expense, net
(3)
(2)
(5)
(3)
(5)
Net income (loss) attributable to non-controlling interests
1
4
3
6
10
Equity in net loss (income) of non-consolidated affiliates
(2)
(2)
(4)
(4)
(10)
Other, net
5
1
5
2
5
Adjusted EBITDA
$ 116
$ 134
$ 220
$ 263
$ 4752
*Amounts shown reflect the change in accounting principle related to the method for assessing the realizability of U.S. deferred tax assets
described in the Company's 2025 Form 10-K.
Adjusted EBITDA is not a recognized term under U.S. GAAP and does not purport to be a substitute for net income as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. Adjusted EBITDA has limitations as an analytical tool and is not intended to be a measure of cash flow available for management's discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. In addition, the Company uses adjusted EBITDA (i) as a factor in incentive compensation decisions, (ii) to evaluate the effectiveness of the Company's business strategies, and (iii) because the Company's credit agreements use similar measures for compliance with certain covenants.
VISTEON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In millions except per share amounts)
(Unaudited)
Free Cash Flow and Adjusted Free Cash Flow: Free cash flow and adjusted free cash flow are presented as supplemental measures of the Company's liquidity that management believes are useful to investors in analyzing the Company's ability to service and repay its debt. The Company defines free cash flow as cash flow provided from operating activities less capital expenditures, including intangibles. The Company defines adjusted free cash flow as cash flow provided from operating activities less capital expenditures, including intangibles as further adjusted for restructuring related payments. Because not all companies use identical calculations, this presentation of free cash flow and adjusted free cash flow may not be comparable to other similarly titled measures of other companies.
Three Months Ended
Six Months Ended
Estimated
June 30,
June 30,
Full Year
Visteon:
2026
2025
2026
2025
2026
Cash provided from operating activities
$ 37
$ 95
$ 43
$ 165
$ 300
Capital expenditures, including intangibles
(25)
(31)
(61)
(66)
(150)
Free cash flow
$ 12
$ 64
$ (18)
$ 99
$ 150
Restructuring related payments
8
3
15
6
20
Adjusted free cash flow
$ 20
$ 67
$ (3)
$ 105
$ 170
Free cash flow and adjusted free cash flow are not recognized terms under U.S. GAAP and do not purport to be a substitute for cash flows from operating activities as a measure of liquidity. Free cash flow and adjusted free cash flow have limitations as analytical tools as they do not reflect cash used to service debt and do not reflect funds available for investment or other discretionary uses. In addition, the Company uses free cash flow and adjusted free cash flow (i) as factors in incentive compensation decisions and (ii) for planning and forecasting future periods.
VISTEON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In millions except per share amounts)
(Unaudited)
Adjusted Net Income and Adjusted Earnings Per Share: Adjusted net income and adjusted earnings per share are presented as supplemental measures that management believes are useful to investors in analyzing the Company's profitability, providing comparability between periods by excluding certain items that may not be indicative of recurring business operating results. The Company believes management and investors benefit from referring to these supplemental measures in assessing company performance and when planning, forecasting and analyzing future periods. The Company defines adjusted net income as net income attributable to Visteon adjusted to eliminate the impact of net restructuring, other gains and losses not reflective of the Company's ongoing operations and related tax effects. The Company defines adjusted earnings per share as adjusted net income divided by diluted shares. Because not all companies use identical calculations, this presentation of adjusted net income and adjusted earnings per share may not be comparable to other similarly titled measures of other companies.
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Net income (loss) attributable to Visteon*
$ 49
$ 71
$ 80
$ 138
Diluted earnings (loss) per share:
Net income (loss) attributable to Visteon*
$ 49
$ 71
$ 80
$ 138
Average shares outstanding, diluted
27.2
27.6
27.3
27.5
Diluted earnings (loss) per share
$ 1.80
$ 2.57
$ 2.93
$ 5.02
Adjusted net income (loss) and adjusted earnings (loss) per share:
Net income (loss) attributable to Visteon*
$ 49
$ 71
$ 80
$ 138
Restructuring, net
(1)
1
17
1
Other
5
1
5
2
Tax impacts of adjustments
(1)
(1)
(5)
(1)
Adjusted net income (loss)
$ 52
$ 72
$ 97
$ 140
Average shares outstanding, diluted
27.2
27.6
27.3
27.5
Adjusted earnings (loss) per share
$ 1.91
$ 2.61
$ 3.55
$ 5.09
*Amounts shown reflect the change in accounting principle related to the method for assessing the realizability of U.S. deferred tax assets
described in the Company's 2025 Form 10-K.
Adjusted net income and adjusted earnings per share are not recognized terms under U.S. GAAP and do not purport to be a substitute for profitability. Adjusted net income and adjusted earnings per share have limitations as analytical tools as they do not consider certain restructuring and transaction-related payments and/or expenses. In addition, the Company uses adjusted net income and adjusted earnings per share for internal planning and forecasting purposes.
_______________
1
Visteon y/y sales growth (ex. FX and net pricing) compared to production for Visteon customers weighted on Visteon sales contribution.
2
Based on mid-point of the range of the Company's financial guidance
Norfolk Southern vykázala rekordní čtvrtletní tržby 3,5 miliardy USD, meziročně o 11 % více. Zisk z provozu ale klesl na 1,1 miliardy USD a zředěný EPS byl 3,26 USD.
, /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced Thursday its second quarter 2026 financial results. For the quarter, revenue was $3.5 billion, income from railway operations was $1.1 billion, operating ratio was 67.6%, and diluted earnings per share were $3.26.
Adjusting the results to exclude merger-related expenses, restructuring and other charges, and the effects of the Eastern Ohio incident, second quarter income from railway operations was $1.2 billion, the operating ratio was 65.5%, and diluted earnings per share were $3.52.
"Norfolk Southern delivered a strong second quarter, exceeding our expectations as demand improved across key markets," said Mark George, President and Chief Executive Officer. "Our team adapted to a dynamic operating environment with focus and an unwavering commitment to safety. The progress we achieved reflects the dedication of our railroaders and the strength of our franchise."
George added, "As we look to the second half of the year, our priorities remain clear: operating a safe, reliable railroad, providing high-quality, consistent service for our customers, and executing with discipline to capitalize on emerging opportunities. With encouraging demand trends, we are well positioned to create value for our customers, shareholders, and the communities we serve."
Second Quarter Summary
Railway operating revenues of $3.5 billion were an all-time quarterly record, up $355 million, or 11% compared to the second quarter 2025, on a volume increase of 4% year-over-year, and higher fuel surcharges representing six points of the revenue growth. Income from railway operations was $1.1 billion, a decrease of $51 million, or 4%, compared to second quarter 2025. Adjusting for the effects of merger-related expenses in 2026 and restructuring and other charges and the Eastern Ohio incident in both years, income from railway operations was $1.2 billion, an increase of $58 million, or 5%, compared to adjusted second quarter 2025. Operating ratio in the quarter was 67.6% compared to 62.2% in second quarter 2025. Adjusting for the effects of merger-related expenses in 2026 and restructuring and other charges and the Eastern Ohio incident in both years, the operating ratio for second quarter 2026 was 65.5%, 210 basis points higher than adjusted second quarter 2025. Higher fuel expense and the corresponding growth in fuel surcharge revenues translated to 110 basis points of headwind to the operating ratio on a year-over-year basis. Diluted earnings per share were $3.26, down $0.15, or 4%, compared to second quarter 2025. Adjusting for the effects of merger-related expenses in 2026 and restructuring and other charges and the Eastern Ohio incident in both years, diluted earnings per share were $3.52, up $0.23, or 7%, compared to adjusted second 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 second quarters of 2026 and 2025 exclude restructuring and other charges and the effects from the Eastern Ohio Incident (the Incident). Our non-GAAP financial results for the second quarter of 2026 also exclude merger-related expenses. The following tables adjust our GAAP financial results for the second 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)
Second
Quarter 2026
Income from railway operations
$
1,124
Merger-related expenses, restructuring
and other charges, and effect of the
Incident
72
Adjusted income from railway operations
$
1,196
Operating ratio
67.6 %
Merger-related expenses, restructuring
and other charges, and effect of the
Incident
(2.1 %)
Adjusted operating ratio
65.5 %
Diluted earnings per share
$
3.26
Merger-related expenses, restructuring
and other charges, and effect of the
Incident
0.26
Adjusted diluted earnings per share
$
3.52
($ in millions, except per share amounts)
Second
Quarter 2025
Income from railway operations
$
1,175
Restructuring and other charges and
effect of the Incident
(37)
Adjusted income from railway operations
$
1,138
Operating ratio
62.2 %
Restructuring and other charges and
effect of the Incident
1.2 %
Adjusted operating ratio
63.4 %
Diluted earnings per share
$
3.41
Restructuring and other charges and
effect of the Incident
Norfolk Southern překonala odhady zisku za 2. čtvrtletí díky silnější poptávce po nákladní dopravě a vyšším palivovým příplatkům. Upravený zisk činil 3,52 USD na akcii.
Norfolk Southern logo is seen in this illustration taken August 5, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
July 23 (Reuters) - Norfolk Southern (NSC.N), opens new tab beat Wall Street expectations for second-quarter adjusted profit on Thursday, as stronger freight demand and increased fuel surcharges billed to customers helped counter fuel-cost pressures.
Fuel costs have remained a headwind for transportation companies, though railroads have partly offset the pressure by passing costs to shippers via fuel surcharges, operational efficiencies and steady intermodal demand.
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Here are more details:
U.S. gasoline prices topped $4 a gallon in March for the first time in more than three years and have remained near that level, keeping pressure on fuel-intensive industries.
Atlanta, Georgia-based Norfolk reported an adjusted profit of $3.52 per share, compared with $3.29 per share a year earlier. Analysts expected an adjusted profit of $3.31 per share, according to data compiled by LSEG.
The company's railway operating income for the second quarter rose 11% to $3.5 billion from a year earlier.
On an adjusted basis, the company's operating ratio - a key measure of efficiency - was 65.5% for the quarter, deteriorating by 210 basis points from a year earlier.
Union Pacific outperforms peers since FebruaryReporting by Apratim Sarkar in Bengaluru; Editing by Vijay Kishore
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Lombard Finance zavádí Bitcoin Onchain Credit Strategy s Flow Traders jako pilotním partnerem. Flow si bude půjčovat stablecoiny na market-making bez vlastního onchain kolaterálu, kryté bitcoinem v rámci Bitcoin Earn.
Bitcoin financial products startup Lombard Finance (BARD) is launching a new product called the Bitcoin Onchain Credit Strategy with global trading firm Flow Traders (Euronext: FLOW) as a pilot partner.
The offering will enable Flow to borrow stablecoins for market-making without posting its own onchain collateral. Instead, bitcoin deposited into Lombard’s Bitcoin Earn yield product will act as the collateral coverage through an underwriting setup run on Cap’s private-credit platform, according to an announcement on Thursday.
"Liquidity providers like Flow Traders use stablecoin financing to efficiently support their digital asset trading operations," Global Head of Digital Assets at Flow Traders Michael Lie said. "Lombard’s Bitcoin Onchain Credit Strategy connects Bitcoin holders with institutional financing activity, driven by real institutional demand and less correlated to DeFi market conditions."
Bitcoin-Backed Stablecoin Borrowing Bitcoin Earn is Lombard’s bitcoin yield product designed to enable users to deposit tokens like LBTC, BTC.b, WBTC, or native BTC into a single vault, currently operated by professional managers Sentora and powered by Veda infrastructure, in exchange for BTCe receipt tokens, according to its documentation.
Bitcoin Earn operates as a so-called meta-vault, or fund-of-funds architecture, for bitcoin yield, where the Bitcoin Onchain Credit Strategy operates as just one allocation sitting inside it.
The vault has attracted over $1 billion in deposits from more than 38,500 users total, and compounds returns BTCe, and also can earn rewards paid in BARD tokens.
With the new Bitcoin Onchain Credit Strategy, Lombard depositors can now earn yield directly from the underwriting premiums Flow Traders pays, arguably offering a more stable return driven by real institutional demand over the typical DeFi setups on Aave, Morpho and others.
The announcement notes Cap’s automated marketplace for private credit “uses smart contracts rather than manual intervention to allocate access to capital,” helping to ensure “each loan is independently vouched for and guaranteed and allows for unique use cases such as Lombard’s Bitcoin Onchain Credit Strategy.”
The announcement notes Lombard has tapped Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to secure cross-chain deposits of BTC.b directly from Avalanche into an Ethereum vault.
Lombard is the provider behind Ledger’s "bitcoin yield" feature, and also provides infrastructure for Binance and Bybit. The startup acquired Avalanche’s bridged bitcoin asset and infrastructure BTC.b last October.
Founded in 2024, Lombard previously raised $17 million in seed funding led by Polychain Capital, with participation from Franklin Templeton, Bybit, YZi Labs (previously Binance Labs), and others.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
Popular meme-coin collateral platform Purinta has confirmed it will soon launch a dedicated Shiba Inu market.
Once the feature goes live, users will be able to use their Shiba Inu holdings as collateral to borrow funds without selling their tokens. Announcing the development on X, Purinta stated:
“SHIB market coming soon to Purinta. Deposit, borrow, [and] keep your exposure.”
The announcement also featured a promotional banner reading, “Borrow Against SHIB. Coming Soon to Purinta,” indicating that the feature is currently under development.
Community Vote Secured SHIB’s Listing The decision to add SHIB came directly from the community. A few weeks ago, Purinta conducted a poll on X, asking its more than 25,900 followers to vote on the next meme coin the platform should support.
The results strongly favored Shiba Inu. Out of 396 votes cast, 67.9% supported SHIB, while 32.1% backed Floki. By declaring, “You voted. We listened,” Purinta made it clear that community demand, not an internal decision, determined the outcome.
Pick now!
— Purinta (@purintaxyz) July 7, 2026
After the SHIB market launches, users will be able to deposit their Shiba Inu tokens as collateral and borrow stablecoins such as USDC while retaining exposure to SHIB’s potential price appreciation.
This model allows holders to unlock liquidity without liquidating their positions. Instead of selling SHIB to raise capital, users can continue holding the token while borrowing against it through Purinta’s decentralized finance (DeFi) platform.
SHIB Becomes Purinta’s Fourth Meme Coin Collateral The upcoming integration expands Purinta’s meme coin-focused lending ecosystem, which is built on Morpho and powered by Api3DAO infrastructure.
Currently, the platform supports three meme coins as collateral, such as Pepe (PEPE), Cash Cat (CASHCAT), and SPX6900 (SPX).
With the addition of SHIB, Shiba Inu will become the fourth meme coin available for collateralized borrowing on the platform.
Shiba Inu’s DeFi Utility Continues to Expand Purinta’s integration further strengthens Shiba Inu’s role in decentralized finance by allowing holders to access liquidity without selling their SHIB holdings.
The platform joins a growing number of services that accept SHIB as collateral for stablecoin-backed loans, including CoinRabbit and Binance Loans. Additionally, the Shiba Inu ecosystem team has introduced Shib Finance, a product designed to provide a broader financial suite covering lending, borrowing, and savings.
Notably, Purinta’s support expands SHIB’s utility within the DeFi sector, giving investors another option to unlock capital while maintaining exposure to the token.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Z Coinbase Ethereum infrastruktury bylo přesunuto 1,16 bilionu SHIB v hodnotě asi 4,95 milionu USD do tří zcela nových peněženek. Převod obešel spotový trh a nezasáhl do order booků.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
While the Shiba Inu (SHIB) price remains near the critical level of $0.000004249, a major withdrawal of 1.16 trillion tokens worth approximately $4.95 million has been recorded from Coinbase's Ethereum infrastructure.
According to Arkham Intelligence, the entire amount was distributed across three completely new wallets that were apparently created specifically for these transactions and hold no other assets apart from the received SHIB.
How Coinbase just moved over a trillion SHIB to empty walletsOn-chain data explains why this multimillion-dollar transfer completely bypassed the spot market and had no impact on exchange order books. Two transactions — involving 348 billion and 242 billion SHIB — were sent directly from verified Coinbase Prime Custody addresses, a service that exclusively serves large corporate clients.
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Distributing assets across new, separate addresses outside the trading platform is a standard technical process for a custodian, required for internal security and liquidity management.
On-chain data tracks 1.16 trillion SHIB routing to new isolated wallets, Source: Arkham IntelligenceAt the same time, the origin of the largest portion — 573 billion SHIB that left the platform — remains unclear. It was transferred from wallet "0xa59...447", which has no exchange labels in Arkham's system. This address may belong either to an unmarked internal Coinbase structure or to a large private holder withdrawing the assets.
Why is this happening right now?The token is trading close to the psychological support level of $0.00000400, while the weekly RSI of 33–35 indicates that the asset is deeply oversold. A move below this support level would expose SHIB to the risk of falling toward its lows from previous years.
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The fact that 1.16 trillion SHIB is being separated within the custody system precisely near a local bottom points to the locking in and preservation of positions.
The transfers were deliberately conducted within the exchange's infrastructure, bypassing spot order books, which made it possible to move a large amount without causing price fluctuations and to keep the price above the critical threshold.
Gentherm (THRM - Free Report) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +27.12%. A quarter ago, it was expected that this maker of climate-controlled seats and other products would post earnings of $0.53 per share when it actually produced earnings of $0.84, delivering a surprise of +58.49%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Gentherm, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $416.17 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.29%. This compares to year-ago revenues of $375.09 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Gentherm shares have lost about 0.9% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Gentherm?While Gentherm 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 Gentherm was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.67 on $393.34 million in revenues for the coming quarter and $2.75 on $1.56 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the bottom 37% 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.
Aeva Technologies, Inc. (AEVA - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.
This company is expected to post quarterly loss of $0.44 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 1.8% lower over the last 30 days to the current level.
Aeva Technologies, Inc.'s revenues are expected to be $6.13 million, up 11.3% from the year-ago quarter.
