California Public Employees Retirement System v 1. čtvrtletí snížil podíl v The Ensign Group o 7,5 % a prodal 10 863 akcií. Po prodeji držel 134 667 akcií v hodnotě 27,135 milionu USD.
California Public Employees Retirement System trimmed its holdings in shares of The Ensign Group, Inc. (NASDAQ:ENSG – Free Report) by 7.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,667 shares of the company’s stock after selling 10,863 shares during the quarter. California Public Employees Retirement System owned 0.23% of The Ensign Group worth $27,135,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of The Ensign Group by 52.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,336 shares of the company’s stock valued at $9,465,000 after purchasing an additional 18,699 shares during the last quarter. Cypress Wealth Services LLC purchased a new position in shares of The Ensign Group in the 4th quarter worth about $1,508,000. SG Americas Securities LLC boosted its holdings in shares of The Ensign Group by 70.2% in the 4th quarter. SG Americas Securities LLC now owns 38,029 shares of the company’s stock worth $6,625,000 after buying an additional 15,683 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in The Ensign Group by 8.4% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 163,131 shares of the company’s stock valued at $28,417,000 after buying an additional 12,602 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in The Ensign Group by 14.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 129,756 shares of the company’s stock valued at $22,567,000 after buying an additional 16,853 shares during the period. 96.12% of the stock is currently owned by institutional investors.
Insider Activity In other news, Director Barry M. Smith sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $164.28, for a total value of $114,996.00. Following the sale, the director owned 21,352 shares of the company’s stock, valued at $3,507,706.56. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.00% of the stock is currently owned by company insiders.
Analysts Set New Price Targets A number of research firms recently issued reports on ENSG. Truist Financial decreased their price objective on shares of The Ensign Group from $215.00 to $202.00 and set a “hold” rating for the company in a report on Tuesday, July 14th. Wall Street Zen raised shares of The Ensign Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. Weiss Ratings downgraded shares of The Ensign Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 16th. Zacks Research lowered shares of The Ensign Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of The Ensign Group in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.50.
Get Our Latest Report on ENSG
The Ensign Group Stock Down 0.7% ENSG stock opened at $170.87 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.68 and a beta of 0.69. The Ensign Group, Inc. has a fifty-two week low of $134.79 and a fifty-two week high of $218.00. The stock has a fifty day moving average of $165.80 and a 200-day moving average of $184.01.
The Ensign Group (NASDAQ:ENSG – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.06. The Ensign Group had a return on equity of 16.78% and a net margin of 6.89%.The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the business posted $1.52 EPS. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. The Ensign Group has set its FY 2026 guidance at 7.480-7.620 EPS. As a group, equities research analysts predict that The Ensign Group, Inc. will post 6.82 earnings per share for the current year.
The Ensign Group Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.065 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 annualized dividend and a dividend yield of 0.2%. The Ensign Group’s dividend payout ratio (DPR) is presently 4.23%.
About The Ensign Group (Free Report)
The Ensign Group, Inc is a diversified provider of post-acute healthcare services in the United States, operating a network of skilled nursing, assisted living, independent living, home health and hospice care centers. The company’s model emphasizes integrated care by employing multidisciplinary teams—including nursing staff, therapists and physicians—to deliver personalized rehabilitation and long-term care services for seniors and other patients recovering from injury, illness or surgery.
Through its owned and managed centers, The Ensign Group offers a broad spectrum of rehabilitation services such as physical, occupational and speech therapy.
Featured Articles Five stocks we like better than The Ensign Group Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding ENSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Ensign Group, Inc. (NASDAQ:ENSG – Free Report).
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Sameer to drive growth, investment in wealth management business
, /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced Shimna Sameer as head of Truist Wealth. Sameer joins the company to accelerate the performance and scale the delivery of Truist's wealth management business.
As head of Truist Wealth, Sameer will have broad oversight of business strategy, including the delivery of Truist's purpose-driven wealth experience to clients, enhancing the advisor and client experience, investing in and deploying innovative technology, strengthening partnerships across the enterprise and delivering long-term growth.
Shimna Sameer announced head of Truist Wealth. Sameer has more than 20 years of experience in consumer banking, wealth management and private banking. Most recently, she served as head of products, solutions and platforms at Bank of America Private Bank. In this role, Sameer was responsible for managing the Private Bank's digital platforms, business and talent strategies and client experience, as well as driving business opportunities across the enterprise. She also led the delivery of the firm's specialized capabilities – including wealth strategy, trust services, custom lending and art services – to all of Bank of America's wealth management clients. Throughout her career, Sameer has led scaled client-facing businesses and large transformational initiatives, including developing the strategy for the sales organization, digital solutions and talent development for Merrill Edge.
Sameer will join Truist in October, reporting to Chief Wholesale Banking Officer Kristin Lesher, and serve as a member of the Truist Operating Council. She will be based in Truist's Hudson Yards offices in New York City.
"Truist Wealth is critical to our enterprise growth strategy and we'll continue to invest in technology enhancements, empower our advisors and broaden the solutions we provide clients," said Kristin Lesher, Truist Chief Wholesale Banking Officer. "Shim has spent her career serving clients, leading organizations to achieve outsized results and designing and implementing strategies that drive performance. She has a proven ability to partner across the enterprise, support advisor growth and development and leverage technology to scale businesses. Her experience and success across banking and wealth management will shape Truist Wealth at an important moment in our business."
Truist Wealth delivers holistic wealth management solutions to affluent, high, and ultra-high net worth individuals, families, and business owners across the U.S. and abroad. Truist Wealth is part of the Truist Wholesale Banking segment which provides comprehensive solutions to commercial, corporate, institutional and high-net-worth clients through a combination of regional coverage and industry-focused teams serving clients across the U.S.
About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top-10 commercial bank with total assets of $556 billion as of June 30, 2026. Truist Bank, Member FDIC. Equal Housing Lender. Learn more at Truist.com.
About Truist Wealth
Truist Wealth delivers holistic wealth management solutions to affluent, high, and ultra-high net worth individuals, families, and business owners across the U.S. and abroad. Truist Wealth provides distinct solutions for individuals and businesses through the following affiliates: Banking products and services, corporate trust, escrow, and institutional investment management services to public, private, and nonprofit organizations provided by Truist Bank, Member FDIC. Securities, brokerage accounts, and/or annuities offered by Truist Investment Services, Inc., member FINRA, SIPC, and a licensed insurance agency. Investment advisory services offered by Truist Advisory Services, Inc. and affiliated SEC registered investment advisers.
AMD a Anthropic uzavřely dohodu na dodávky serverů pro AI v hodnotě desítek miliard USD. Anthropic má odebrat čipy Instinct MI450 až 2 gigawaty od první poloviny roku 2027.
Společnosti AMD a Anthropic podepsaly dohodu na dodávky serverů pro umělou inteligenci v hodnotě desítek miliard dolarů. Tento podle krok deníku Wall Street Journal posiluje konkurenční pozici AMD vůči lídrovi trhu Nvidia a zároveň poskytuje startupu Anthropic tolik potřebný výpočetní výkon.
Anthropic podle podmínek dohody odkoupí nejnovější generaci čipů AMD s označením Instinct MI450 v objemu až 2 gigawattů, a to od první poloviny roku 2027. Společnost AMD zároveň po dosažení stanovených milníků v odběru čipů investuje do Anthropicu až 5 mld. USD, což představuje její vůbec první přímý finanční vstup do této AI firmy.
„Velmi jsme usilovali o to, abychom se stali významnou součástí jejich infrastruktury,“ uvedla generální ředitelka AMD Lisa Su a dodala, že inženýrské týmy obou společností již nějakou dobu úzce spolupracují.
Anthropic v rámci nové dohody nakoupí část čipů AMD pro vlastní datová centra a další část kapacity si pronajme prostřednictvím velkých cloudových poskytovatelů či specializovaných neocloudů. Obě firmy aktuálně společně vybírají vhodná datová centra pro umístění těchto čipů, doplnila Su.
Akcie AMD Akcie AMD (AMD) v předburzovní fázi obchodování klesají o 3,16 % na 527,20 USD.
Hershey mění Halloween na několik mikrosezón a začíná s ním už v létě, aby podpořila prodej Reese's a dalších značek. Firma zároveň nasazuje AI do marketingu i prodeje v prodejnách.
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Hershey is leaning into the "trunk or treat" trend, which often takes place long before Halloween. Hershey Stacy Taffet, Hershey's chief growth and marketing officer, has already entered her spooky season.
The Reese's and Jolly Rancher parent is conjuring up a new Halloween playbook, carving the holiday into distinct micro-seasons that start months before October 31, Taffet exclusively told CMO Insider.
A Morning Consult survey commissioned by Hershey in July found that 67% of US parents had bought Halloween candy or snacks during the summer in recent years. Almost half (49%) of parents polled were familiar with the term "Summerween."
With consumers celebrating Halloween early, CMOs face a challenge in building excitement without peaking too soon.
Taffet said Hershey has shifted from treating Halloween as "one long extended season" to a more occasion-led approach, with different brands and products promoted at different points.
Summer is about cueing the season with Reese's assorted Halloween shapes and marketing that centers on rituals like pumpkin carving and fall lattes.
"We'll use more parts of the portfolio that are either for individual consumption or for sharing in small groups as a way to say, 'Let's get excited, the season's coming,'" Taffet said.
As fall approaches, Hershey plans to lean into the "trunk or treating" trend, where families gather in parking lots for children to collect candy from car trunks.
When October nears, activity will ramp up, including a partnership with Amazon to deliver ready-to-go large trick-or-treat bowls and a bigger push for non-chocolate brands, such as its Pirate's Booty salty snacks.
Halloween is a high-stakes moment for Hershey. Last year, Hershey CEO Kirk Tanner said its Halloween sales performance had been disappointing, citing warmer weather among other factors. Retailers were also discounting candy at the time, following price hikes driven by higher cocoa prices.
Tanner said on last October's earnings call that there were opportunities to "go to school" on consumer insights to improve for Halloween 2026, such as evaluating new pack types, price points, and the product mix.
Behind the scenes, Taffet, who joined the company in April 2025, has been reconfiguring her department to handle moments like these.
"The biggest thing I've been focused on is really breaking down functional silos," so the company can more quickly react to consumer trends, Taffet said.
Within the growth office, the marketing, insights, innovation, and research and development teams now function together.
Hershey recently introduced a new marketing mix model — a method that determines the impact of individual marketing channels on sales — enabled by AI.
Taffet said AI and automation tools are making it easier for Hershey to flag celebrities and influencers who are already talking about its brands and reach out about potential partnerships. It has also deployed AI tools to its retail sales force to strengthen merchandising.
"Our retail team will go to a store manager and, using an augmented reality tool and analytics powered by AI, say, 'If you put the KitKat display over here by the checkout, your sales are going to go up by X%,'" Taffet said.
Taffet said Hershey is also aware that many people are financially stretched, and is introducing new product formats at lower prices.
"If they only have $20 to spend on getting their kid excited about Halloween, it could be a costume, it could be decorations, it could be Reese's Shapes, and we want to make sure that we're top of mind to delight people in that season," she said.
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Lara O'Reilly You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Lara O'Reilly is the anchor of the CMO Insider newsletter.She is a senior correspondent who has covered the digital advertising, marketing, and media industries since 2010. Her current beat includes big tech companies like Alphabet, and Meta, and adtech firms, agencies, publishers, the creator economy, and CMOs.Lara has previously worked as a reporter and executive producer at titles including The Wall Street Journal, Digiday, Yahoo Finance, and Marketing Week. She was previously Business Insider's senior global advertising editor from 2014 to 2017.Lara was named "Digital Journalist of the Year" by the London Press Club in 2016.Lara is a regular guest on TV and radio and has appeared on outlets such as the BBC, NPR, SiriusXM's Wharton Business Daily, and CTV Television Network. She also frequently speaks on stage at major events such as Web Summit, IFA, VivaTech, Advertising Week, and Cannes Lions.To get in touch with Lara O'Reilly, email [email protected] or contact her on Signal at @loreilly.71Check out Insider's source guide for tips on sharing information securely.Read some of Lara's recent work below:
Inside Amazon's plan to clobber rivals The Trade Desk and Google in a key area of advertisingMeet Cindy Rose, the former lawyer and top Microsoft exec set to become CEO of ad giant WPPHow X CEO Linda Yaccarino went from Elon Musk's fixer to out of a job in 2 yearsInside the political reckoning shaking up the ad industryMeet the 'reclusive' tech billionaire making an audacious bid to buy TikTokTop marketers are under a ton of pressure. They told me how they're trying to make themselves recession-proof.Big Tech workers got too used to perks. The pampering is over. Halloween
Baader Bank Aktiengesellschaft bought a new position in shares of Vertiv Holdings Co. (NYSE:VRT – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,105 shares of the company’s stock, valued at approximately $490,000.
Several other hedge funds also recently made changes to their positions in the business. SFE Investment Counsel increased its stake in Vertiv by 1.1% in the first quarter. SFE Investment Counsel now owns 3,052 shares of the company’s stock valued at $765,000 after acquiring an additional 32 shares during the last quarter. Webster Bank N. A. increased its stake in shares of Vertiv by 6.9% in the 1st quarter. Webster Bank N. A. now owns 542 shares of the company’s stock valued at $136,000 after purchasing an additional 35 shares during the last quarter. Sachetta LLC raised its holdings in shares of Vertiv by 41.4% during the 1st quarter. Sachetta LLC now owns 123 shares of the company’s stock worth $31,000 after buying an additional 36 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its position in shares of Vertiv by 2.1% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 1,908 shares of the company’s stock worth $478,000 after buying an additional 40 shares during the last quarter. Finally, Quotient Wealth Partners LLC boosted its stake in Vertiv by 2.5% in the first quarter. Quotient Wealth Partners LLC now owns 1,813 shares of the company’s stock valued at $454,000 after buying an additional 45 shares in the last quarter. 89.92% of the stock is owned by institutional investors.
Vertiv Stock Performance NYSE:VRT opened at $304.73 on Wednesday. The company has a fifty day moving average of $317.64 and a 200-day moving average of $272.03. The firm has a market capitalization of $117.05 billion, a P/E ratio of 76.56, a P/E/G ratio of 1.26 and a beta of 2.03. The company has a quick ratio of 1.15, a current ratio of 1.49 and a debt-to-equity ratio of 0.69. Vertiv Holdings Co. has a twelve month low of $118.70 and a twelve month high of $379.93.
Vertiv (NYSE:VRT – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.17. Vertiv had a return on equity of 49.90% and a net margin of 14.37%.The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue was up 30.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vertiv Holdings Co. will post 6.38 EPS for the current year.
Vertiv Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were given a $0.0625 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.25 annualized dividend and a yield of 0.1%. Vertiv’s dividend payout ratio (DPR) is presently 6.28%.
Wall Street Analysts Forecast Growth A number of equities research analysts have recently weighed in on VRT shares. Bank of America raised their price target on shares of Vertiv from $370.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, May 15th. BNP Paribas Exane began coverage on shares of Vertiv in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $345.00 price objective for the company. HSBC began coverage on shares of Vertiv in a research note on Wednesday, March 25th. They set a “buy” rating and a $325.00 target price on the stock. TD Cowen increased their price target on Vertiv from $347.00 to $387.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group restated a “hold” rating and set a $260.00 price objective (down from $280.00) on shares of Vertiv in a research report on Tuesday, March 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $342.73.
Read Our Latest Stock Analysis on VRT
Key Vertiv News Here are the key news stories impacting Vertiv this week:
Positive Sentiment: Vertiv announced a major expansion at its Tognana campus in Italy to increase manufacturing and testing for data center cooling systems, with chiller production capacity expected to double by the end of 2026. The move supports rising demand tied to AI and high-density computing. Vertiv Expands Global Manufacturing Capacity for AI-Ready Data Center Cooling Solutions Positive Sentiment: Vertiv completed the acquisition of Strategic Thermal Labs, adding advanced liquid-cooling and cold-plate expertise that should strengthen its offerings for AI servers and other power-dense computing environments. Vertiv (VRT) Is Buying Strategic Thermal Labs For AI Cooling Growth Positive Sentiment: Separately, Zacks highlighted Vertiv as one of several stocks offering both AI exposure and dividend payouts, keeping the name on investors’ radar as an AI beneficiary with income appeal. These Stocks Offer AI Exposure and Dividend Payouts Neutral Sentiment: Vertiv has also been attracting unusual investor attention and media coverage, which can boost trading activity but does not by itself change the company’s fundamentals. Vertiv Holdings Co. (VRT) is Attracting Investor Attention: Here is What You Should Know Negative Sentiment: Jim Cramer’s “wait before buying the dip” comment is a cautious signal that may temper near-term enthusiasm, though it is more opinion than a direct company-specific warning. Jim Cramer says wait before buying the dip on Vertiv Vertiv Company Profile (Free Report)
Vertiv is a global provider of critical digital infrastructure and continuity solutions for data centers, communication networks and commercial and industrial environments. Headquartered in Columbus, Ohio, the company designs, manufactures and services equipment and software that support power availability, thermal management and IT infrastructure management for a broad set of end markets, including hyperscale and enterprise data centers, colocation providers, telecom operators and industrial customers.
The company’s product portfolio includes uninterruptible power supplies (UPS), power distribution units (PDUs), battery and DC power systems, precision cooling and thermal management equipment, racks and enclosures, and integrated modular infrastructure.
Featured Articles Five stocks we like better than Vertiv Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible
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Amphenol byla zvýšena na doporučení koupit díky silnému organickému růstu, akvizicím a rozšiřujícím se maržím. Tržby v 1. čtvrtletí dosáhly rekordních 7,62 miliardy USD.
SummaryAmphenol Corporation is upgraded to a buy, driven by robust organic growth, disciplined acquisitions, and expanding margins.APH’s Q1 revenue hit a record $7.62 billion, fueled by 33% organic growth and the CCS acquisition, with EBITDA tripling over three years.Non-GAAP operating margin reached 27.3%, and further margin expansion is expected as CCS integration matures and synergies materialize.While APH trades at a premium (P/E ~43x), accelerating earnings and secular tailwinds increasingly justify the valuation, supporting durable long-term growth. Supersmario/iStock via Getty Images
Amphenol Corporation (APH) is becoming one of the most renowned manufacturers of electronic connectors, cable assemblies, sensors, antennas, and other interconnect systems. These are the systems that enable the transmission of power, data, and signals for markets like AI data centers, automotive, aerospace, defense, industrial automation, mobile devices, and communications. The company generates
745 Followers
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Teledyne zvýšila celoroční odhad upraveného zisku na 24,45 až 24,65 USD na akcii. Ve 2. čtvrtletí překonala odhady ziskem 6,28 USD na akcii a tržbami 1,66 miliardy USD.
Short-wave infrared sensors made by Teledyne FLIR are mounted under an APEX aircraft in Taitung, Taiwan, October 13, 2025. REUTERS/Ann Wang/File Photo Purchase Licensing Rights, opens new tab
July 22 (Reuters) - Teledyne Technologies (TDY.N), opens new tab on Wednesday raised its 2026 profit forecast as demand remained robust at its digital imaging, instrumentation as well as aerospace and defense segments.
Shares of the sensing-systems maker, which also reported better-than-expected quarterly profit and revenue, rose nearly 3% before the bell.
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Teledyne, which continues to benefit from elevated demand for defense and surveillance equipment amid heightened geopolitical tensions, noted further boost to its top-line from recent acquisitions.
"Organic growth was greatest in our Digital Imaging segment, where infrared detectors and systems for space and airborne and marine unmanned systems, as well as counter unmanned applications, each increased considerably," CEO Robert Mehrabian said.
"We achieved growth in our other segments and each product line within the Instrumentation segment," the CEO added.
Teledyne now expects full-year adjusted profit between $24.45 and $24.65 per share, compared with its prior range of $23.85 to $24.15.
The mid-point of the new forecast range is 39 cents ahead of average analysts' estimate of $24.16, according to data compiled by LSEG.
On an adjusted basis, Teledyne earned $6.28 per share in the quarter ended June 28, compared with estimates of $5.80 a share.
The Thousand Oaks, California-based company posted a 9.8% year-on-year rise in second-quarter revenue to $1.66 billion, compared with estimates of $1.58 billion.
Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Joyjeet Das
Our Standards: The Thomson Reuters Trust Principles., opens new tab
ABN Amro Investment Solutions trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,353 shares of the construction company’s stock after selling 3,106 shares during the quarter. ABN Amro Investment Solutions’ holdings in Quanta Services were worth $25,998,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Quanta Services in the 4th quarter worth about $298,000. Woodline Partners LP raised its position in Quanta Services by 40.7% in the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock worth $3,170,000 after purchasing an additional 3,606 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Quanta Services in the second quarter worth about $4,632,000. Marshall Wace LLP purchased a new position in shares of Quanta Services during the second quarter valued at approximately $996,000. Finally, StoneX Group Inc. bought a new position in shares of Quanta Services during the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.
Quanta Services Price Performance PWR opened at $638.74 on Wednesday. The company has a market capitalization of $95.85 billion, a price-to-earnings ratio of 87.62, a PEG ratio of 2.49 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The business’s fifty day simple moving average is $698.00 and its 200-day simple moving average is $602.38.
Quanta Services (NYSE:PWR – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities research analysts anticipate that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.
Quanta Services Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Quanta Services’s dividend payout ratio is presently 6.04%.
Quanta Services announced that its board has authorized a share buyback program on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In A number of equities research analysts recently issued reports on PWR shares. UBS Group raised their price target on Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. B. Riley Financial reiterated a “neutral” rating on shares of Quanta Services in a research note on Friday, May 1st. Zacks Research lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Truist Financial upped their price target on shares of Quanta Services from $851.00 to $940.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, CICC Research began coverage on shares of Quanta Services in a research note on Thursday, May 21st. They issued an “outperform” rating and a $872.00 price target on the stock. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $745.55.
Check Out Our Latest Research Report on PWR
Insider Activity at Quanta Services In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the completion of the sale, the chief accounting officer owned 8,080 shares in the company, valued at $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the sale, the chief executive officer owned 16,508 shares of the company’s stock, valued at $12,722,880.68. This trade represents a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 159,992 shares of company stock valued at $123,244,714 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.
Key Stories Impacting Quanta Services Here are the key news stories impacting Quanta Services this week:
Positive Sentiment: Quanta was named the 2026 Top U.S. Solar Solutions Provider by Solar Power World for the third time in four years, highlighting its leadership in solar project execution and its ability to win large renewable-energy contracts. Quanta Services Named 2026 Top U.S. Solar Solutions Provider by Solar Power World Positive Sentiment: Analysts and investors are pointing to Quanta’s execution certainty as a competitive advantage, especially as utilities and technology customers ramp up spending on large, complex infrastructure projects. Can Quanta’s Execution Certainty Strengthen Its Competitive Position? Positive Sentiment: JPMorgan reaffirmed a Neutral rating but set a $714 price target, which is above the current share price and suggests upside if execution remains strong. JPMorgan rating update via Benzinga Neutral Sentiment: Market commentary noted that PWR has outpaced the broader market in the latest session, reflecting continued investor interest but not a new fundamental catalyst. Quanta Services (PWR) Outpaces Stock Market Gains: What You Should Know Neutral Sentiment: One article argued the stock may look pricey on cash flow and earnings, which could limit near-term upside if valuation concerns gain traction. Quanta Services (PWR) Stock Looks Pricey On Cash Flow And Earnings Neutral Sentiment: NZS Capital said it strengthened its position in Quanta in a quarterly letter, but the note was broader portfolio commentary rather than a company-specific catalyst. NZS Capital Quanta Services position update Quanta Services Profile (Free Report)
Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.
In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.
Featured Stories Five stocks we like better than Quanta Services Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible
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July 22, 2026 07:30 ET | Source: BridgeBio Pharma, Inc.
- PDUFA target action date of May 8, 2027
- If approved, encaleret will be the first and only approved therapy specifically indicated for individuals living with ADH1, representing a potential blockbuster opportunity for BridgeBio
- Encaleret demonstrated consistent efficacy across all pre-specified primary and key secondary efficacy endpoints normalizing key markers of CaSR-driven disease biology without the need for calcium and vitamin D supplements, with a favorable safety and tolerability profile
- BridgeBio is also currently enrolling CALIBRATE-PEDS, a registrational Phase 2/3 trial to study encaleret in pediatric ADH1 and intends to initiate the RECLAIM-HP Phase 3 registrational study of encaleret in chronic hypoparathyroidism later this summer; successful development could extend encaleret’s utility to a broader patient population
PALO ALTO, Calif., July 22, 2026 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a commercial-stage, multi-product biopharmaceutical company focused on developing medicines for genetic conditions, today announced the FDA has accepted for filing its New Drug Application (NDA) for encaleret for the treatment of individuals living with autosomal dominant hypocalcemia type 1 (ADH1). The FDA has assigned a Prescription Drug User Fee Act (PDUFA) target action date of May 8, 2027, and BridgeBio is prepared to launch encaleret upon approval, representing a potential blockbuster opportunity for the Company. The FDA also notified the Company that it is not currently planning to hold an advisory committee meeting to discuss the application.
"The FDA's acceptance of our NDA is a powerful validation of encaleret’s differentiated clinical profile and enables a major step forward for the ADH1 community. We believe encaleret has the potential to transform care for patients who currently have no indicated treatment options, and we're moving with urgency to bring it to them,” said Ananth Sridhar, Chief Executive Officer of BridgeBio Endocrinology.
CALIBRATE, the Phase 3 clinical trial of encaleret in ADH1, successfully achieved all pre-specified primary and key secondary efficacy endpoints, supporting encaleret’s potential as a disease-modifying therapy by targeting the underlying genetic cause of ADH1. The topline results can be found here. Additional results were presented at the European Congress of Endocrinology (ECE) 2026 and the Endocrine Society 2026 annual meeting (ENDO) in oral presentations, with data showing simultaneous restoration of blood and urine calcium, as well as restoration of physiologic parathyroid hormone (PTH) production.
"For too long, ADH1 has been an invisible condition, that disrupts several systems in the body, from the kidneys to the nervous system to the muscles and often goes unrecognized for years. The path to diagnosis is frequently a long and exhausting one, especially for patients with a genetic disorder. Patients often cycle through specialists before anyone connects the dots to their diagnosis. The FDA's acceptance of this NDA is a moment of real hope for ADH1 patients and a signal that the medical and regulatory community understand the seriousness of this condition and that an orally administered option may finally be on the horizon for those in need," said Patty Keating, Executive Director of the HypoPARAthyroidism Association.
As of April 2026, over 2,100 individuals have been diagnosed in the U.S. with autosomal dominant hypocalcemia since October 2023 based on claims data, suggestive of a growing marketplace and elevated diagnostic suspicion. The Company also intends to submit a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for the use of encaleret in ADH1 in the second half of 2026.
BridgeBio is currently enrolling CALIBRATE-PEDS (NCT07080385), a global registrational Phase 2/3 study of encaleret in pediatric ADH1. The Company also plans to initiate RECLAIM-HP, a global Phase 3 study of encaleret in chronic hypoparathyroidism later this summer, building on the positive Phase 2 proof-of-concept findings of PTH-independent effects of encaleret on renal calcium handling and expanding the potential applications of encaleret beyond ADH1. Successful development could extend encaleret’s utility to a broader patient population.
About Autosomal Dominant Hypocalcemia Type 1 (ADH1)
ADH1 is a common form of genetic hypoparathyroidism caused by gain-of-function variants in the calcium-sensing receptor gene (CASR). The calcium-sensing receptor (CaSR) constantly monitors and balances blood calcium levels by regulating parathyroid hormone secretion and calcium reabsorption in the kidneys. Individuals with ADH1 typically experience hypocalcemia, hypercalciuria, and inappropriately low levels of PTH. Symptoms of hypocalcemia may include severe muscle cramps, muscle spasms (tetany), a burning or prickling sensation in the hands or feet (paresthesia), brain fog, fatigue, and seizures. Hypercalciuria may result in kidney calcification (nephrocalcinosis), kidney stones (nephrolithiasis), and kidney failure.
About Encaleret
Encaleret is an investigational, orally administered small molecule under investigation to treat ADH1 and chronic hypoparathyroidism, that is designed to selectively negatively modulate the calcium sensing receptor. Encaleret has been granted Fast Track Designation by the U.S. FDA and Orphan Drug Designation in the U.S., European Union, and Japan.
About BridgeBio
BridgeBio exists to develop transformative medicines for genetic conditions. Millions of people worldwide living with genetic conditions lack treatment options, often because drug development for small patient populations can be commercially challenging. We aim to bridge the gap between advancements in genetic science and meaningful medicines for underserved patient populations. Our decentralized, hub-and-spoke model is designed for speed, precision, and scalability. Autonomous and empowered teams focus on individual conditions, while a central hub provides the clinical, regulatory, and commercial capabilities needed to bring innovation to market. For more information, visit bridgebio.com and follow us on LinkedIn, X, Facebook, Instagram, YouTube, and TikTok.
BridgeBio Forward-Looking Statements
This press release contains forward-looking statements. Statements in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), which are usually identified by the use of words such as “anticipates,” “believes,” “continues,” “estimates,” “expects,” “hopes,” “intends,” “may,” “plans,” “projects,” “remains,” “seeks,” “should,” “will,” and variations of such words or similar expressions. BridgeBio intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. These forward-looking statements include express and implied statements relating to the Company’s expectations regarding the regulatory review process for encaleret in ADH1, including the FDA’s review of the NDA and the potential for approval; the Company’s preparedness to launch encaleret upon approval; the potential for encaleret to become the first and only approved therapy specifically indicated for individuals living with ADH1 and to transform care for patients with ADH1; the potential for encaleret to be a disease-modifying therapy by targeting the underlying genetic cause of ADH1; the potential commercial opportunity for encaleret in ADH1, including as a potential blockbuster opportunity for the Company; the timing of a potential Marketing Authorization Application submission to the European Medicines Agency for encaleret in ADH1; the Company’s plans to initiate RECLAIM-HP, a global Phase 3 study of encaleret in chronic hypoparathyroidism, and the potential expansion of encaleret beyond ADH1, including the potential for encaleret to become a multi-billion-dollar opportunity for the Company. Such statements reflect the Company’s current views about the Company’s plans, intentions, expectations and strategies, which are based on the information currently available to it and on assumptions the Company has made. Although the Company believes that its plans, intentions, expectations and strategies as reflected in or suggested by those forward-looking statements are reasonable, the Company can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a number of risks, uncertainties and assumptions, including, but not limited to, initial and ongoing data from the Company’s clinical trials not being indicative of final data, the design and success of ongoing and planned clinical trials, future regulatory filings, approvals and/or sales, despite having ongoing and future interactions with the FDA or other regulatory agencies to discuss potential paths to registration for the Company’s product candidates, the FDA or such other regulatory agencies not agreeing with the Company’s regulatory approval strategies, components of the Company’s filings, such as clinical trial designs, conduct and methodologies, or the sufficiency of data submitted, regulatory submissions not being accepted or approved on anticipated timelines or at all, encaleret not becoming the first and only approved therapy specifically indicated for individuals living with ADH1, the Company not being successful in launching encaleret on anticipated timing or at all, the potential commercial opportunity for encaleret not being realized, the Company’s plans for RECLAIM-HP not proceeding as expected, the impacts of current macroeconomic and geopolitical events, including changing conditions from hostilities in Ukraine and in Israel and the Middle East, increasing rates of inflation and changing interest rates, on business operations and expectations, as well as those risks set forth in the Risk Factors section of the Company’s most recent Annual Report on Form 10-K and the Company’s other filings with the U.S. Securities and Exchange Commission. Moreover, the Company operates in a very competitive and rapidly changing environment in which new risks emerge from time to time. These forward-looking statements are based upon the current expectations and beliefs of the Company’s management as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as required by applicable law, BridgeBio assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
BridgeBio Media Contact:
Bubba Murarka, Executive Vice President [email protected]
(650)-789-8220
California Public Employees Retirement System increased its position in shares of BorgWarner Inc. (NYSE:BWA – Free Report) by 12.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 532,927 shares of the auto parts company’s stock after acquiring an additional 58,960 shares during the period. California Public Employees Retirement System owned about 0.26% of BorgWarner worth $28,917,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in BorgWarner by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,961,482 shares of the auto parts company’s stock worth $538,996,000 after purchasing an additional 178,853 shares during the period. AQR Capital Management LLC boosted its stake in shares of BorgWarner by 22.7% in the fourth quarter. AQR Capital Management LLC now owns 9,222,352 shares of the auto parts company’s stock valued at $415,559,000 after purchasing an additional 1,703,576 shares during the period. State Street Corp grew its holdings in shares of BorgWarner by 5.3% in the second quarter. State Street Corp now owns 7,633,760 shares of the auto parts company’s stock valued at $255,578,000 after purchasing an additional 380,942 shares in the last quarter. LSV Asset Management increased its stake in BorgWarner by 6.7% during the 4th quarter. LSV Asset Management now owns 6,446,541 shares of the auto parts company’s stock worth $290,481,000 after buying an additional 402,887 shares during the period. Finally, Geode Capital Management LLC increased its stake in BorgWarner by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 4,297,717 shares of the auto parts company’s stock worth $193,695,000 after buying an additional 423,933 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets In other news, VP Isabelle Mckenzie sold 3,500 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $63.35, for a total value of $221,725.00. Following the transaction, the vice president owned 57,828 shares in the company, valued at approximately $3,663,403.80. This represents a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tania Wingfield sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $63.24, for a total value of $316,200.00. Following the sale, the executive vice president directly owned 35,365 shares in the company, valued at $2,236,482.60. This trade represents a 12.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 67,500 shares of company stock valued at $4,310,115. 0.76% of the stock is owned by insiders.
BorgWarner Trading Up 3.2% Shares of NYSE:BWA opened at $63.60 on Wednesday. BorgWarner Inc. has a 52 week low of $34.27 and a 52 week high of $78.82. The company’s 50 day moving average is $68.03 and its two-hundred day moving average is $58.69. The company has a market cap of $13.05 billion, a PE ratio of 37.63, a P/E/G ratio of 1.32 and a beta of 1.09. The company has a current ratio of 2.13, a quick ratio of 1.75 and a debt-to-equity ratio of 0.69.
BorgWarner (NYSE:BWA – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.50 billion. BorgWarner had a net margin of 2.53% and a return on equity of 18.36%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 EPS. BorgWarner has set its FY 2026 guidance at 5.000-5.200 EPS. Equities analysts predict that BorgWarner Inc. will post 5.16 earnings per share for the current fiscal year.
BorgWarner Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 1st. BorgWarner’s dividend payout ratio is currently 40.24%.
Analysts Set New Price Targets Several research firms have commented on BWA. Morgan Stanley boosted their price target on shares of BorgWarner from $60.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Wolfe Research reiterated an “outperform” rating and issued a $95.00 price objective on shares of BorgWarner in a research note on Wednesday, June 3rd. TD Cowen lifted their target price on BorgWarner from $66.00 to $67.00 and gave the company a “hold” rating in a report on Thursday, May 7th. UBS Group raised BorgWarner from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $61.00 to $95.00 in a research note on Wednesday, June 10th. Finally, Barclays upped their price target on BorgWarner from $75.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.57.
View Our Latest Analysis on BWA
BorgWarner Profile (Free Report)
BorgWarner Inc is a global automotive supplier specializing in propulsion and drivetrain solutions for combustion, hybrid and electric vehicles. The company’s product portfolio includes turbochargers, thermal management systems, transmission components, e-Propulsion modules and advanced fuel-efficiency technologies. BorgWarner serves original equipment manufacturers (OEMs) across passenger cars, light trucks and commercial vehicles, supporting both legacy internal-combustion engines and emerging electrification trends.
Founded in 1928 through the merger of several driveline companies, BorgWarner has grown through strategic acquisitions and continuous investment in research and development.
Further Reading Five stocks we like better than BorgWarner Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible
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California Public Employees Retirement System decreased its position in shares of Equifax, Inc. (NYSE:EFX – Free Report) by 26.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,205 shares of the credit services provider’s stock after selling 56,857 shares during the period. California Public Employees Retirement System owned 0.13% of Equifax worth $28,848,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of EFX. Cullen Frost Bankers Inc. bought a new stake in Equifax during the 4th quarter valued at approximately $25,000. Ameriflex Group Inc. increased its position in Equifax by 612.5% in the 4th quarter. Ameriflex Group Inc. now owns 114 shares of the credit services provider’s stock worth $25,000 after buying an additional 98 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Equifax during the fourth quarter worth approximately $26,000. Reflection Asset Management acquired a new position in shares of Equifax during the fourth quarter worth approximately $26,000. Finally, State of Wyoming bought a new stake in shares of Equifax in the second quarter valued at approximately $34,000. 96.20% of the stock is currently owned by institutional investors.
Key Stories Impacting Equifax Here are the key news stories impacting Equifax this week:
Positive Sentiment: Equifax posted Q2 2026 EPS of $2.25, topping estimates, while revenue of $1.70 billion rose 11% year over year and matched Wall Street expectations. The company also highlighted strength in USIS, mortgage, and verification businesses, and announced an agreement to acquire Círculo de Crédito, which could expand its credit data footprint. Article Title Positive Sentiment: Management said early AI and agentic-automation gains are helping drive efficiency, and it doubled its expected three-year AI-driven cost savings target to $150 million from $75 million, a potentially meaningful margin tailwind over time. Article Title Neutral Sentiment: Free cash flow remained strong at $326 million for the first six months, and the company returned $366 million to shareholders, supporting the longer-term investment case even as near-term sentiment stays cautious. Article Title Negative Sentiment: Investor reaction has been pressured by Equifax’s weaker-than-expected Q3 and full-year 2026 guidance, which came in below consensus and suggests headwinds from a tough mortgage market and broader macro conditions. Article Title Negative Sentiment: Margins were also hit by a legal settlement accrual tied to a previously disclosed coding issue, adding another overhang as analysts noted the company’s near-term outlook appears less exciting than the quarter’s operating results. Article Title Insider Activity In other Equifax news, CEO Mark W. Begor sold 37,791 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $172.40, for a total transaction of $6,515,168.40. Following the completion of the transaction, the chief executive officer owned 271,730 shares in the company, valued at $46,846,252. This trade represents a 12.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Chad M. Borton sold 2,455 shares of Equifax stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $173.89, for a total value of $426,899.95. Following the sale, the executive vice president directly owned 29,518 shares in the company, valued at $5,132,885.02. The trade was a 7.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.
Analysts Set New Price Targets EFX has been the topic of several research analyst reports. Jefferies Financial Group lowered their price objective on shares of Equifax from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $182.00 price target on shares of Equifax in a report on Tuesday. Morgan Stanley decreased their price target on shares of Equifax from $244.00 to $243.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Equifax from $225.00 to $217.00 in a report on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Equifax from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.63.
Get Our Latest Analysis on EFX
Equifax Stock Down 4.4% Shares of EFX stock opened at $172.23 on Wednesday. The stock has a market cap of $20.51 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 1.36 and a beta of 1.32. Equifax, Inc. has a one year low of $150.74 and a one year high of $271.84. The stock has a fifty day moving average price of $165.31 and a 200 day moving average price of $183.40. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.61 and a quick ratio of 0.61.
Equifax (NYSE:EFX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The credit services provider reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. Equifax had a net margin of 11.12% and a return on equity of 20.41%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.00 earnings per share. Equifax has set its Q3 2026 guidance at 2.150-2.250 EPS and its FY 2026 guidance at 8.390-8.690 EPS. Analysts predict that Equifax, Inc. will post 8.56 earnings per share for the current year.
Equifax Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were paid a $0.56 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.24 dividend on an annualized basis and a yield of 1.3%. Equifax’s payout ratio is presently 39.44%.
Equifax Profile (Free Report)
Equifax Inc (NYSE: EFX) is a global data, analytics and technology company that specializes in consumer and commercial credit reporting, decisioning tools and identity solutions. Headquartered in Atlanta, Georgia, Equifax is one of the three major consumer credit reporting agencies in the United States and provides credit information and related services to lenders, employers, governments and consumers worldwide.
The company’s offerings include consumer credit reports and scores, credit monitoring and identity protection services, and a range of business-oriented products for risk management, fraud detection and compliance.
Further Reading Five stocks we like better than Equifax Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding EFX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equifax, Inc. (NYSE:EFX – Free Report).
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TE Connectivity (TEL - Free Report) came out with quarterly earnings of $2.94 per share, beating the Zacks Consensus Estimate of $2.85 per share. This compares to earnings of $2.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +3.16%. A quarter ago, it was expected that this electronics maker would post earnings of $2.7 per share when it actually produced earnings of $2.73, delivering a surprise of +1.11%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
TE Connectivity, which belongs to the Zacks Electronics - Miscellaneous Components industry, posted revenues of $5.16 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.14%. This compares to year-ago revenues of $4.53 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.
TE Connectivity shares have lost about 8.1% since the beginning of the year versus the S&P 500's gain of 9.7%.
What's Next for TE Connectivity?While TE Connectivity 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 TE Connectivity 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 $2.96 on $5.12 billion in revenues for the coming quarter and $11.31 on $19.56 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, Electronics - Miscellaneous Components is currently in the top 25% 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, Universal Display Corp. (OLED - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on July 30.
This organic light-emitting diode technology company is expected to post quarterly earnings of $1.04 per share in its upcoming report, which represents a year-over-year change of -26.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Universal Display Corp.'s revenues are expected to be $158.37 million, down 7.8% from the year-ago quarter.
Archer Aviation a Anduril představily autonomní rotorové letadlo Thunder pro obranné využití, čímž Archer míří mimo civilní trh s leteckými taxi. Akcie po oznámení vzrostly o 19 %.
The civilian electric vertical takeoff and landing market remains trapped in a regulatory holding pattern. Developing a functional urban air-taxi network requires deep consumer adoption, local infrastructure overhauls, and grueling Federal Aviation Administration approvals.
For pre-revenue developers in the aerospace sector, this translates to heavy cash burn with an ambiguous timeline for actual commercial deployment. The capital requirements to bring a clean-sheet aviation design from prototype to passenger-ready status are staggering, leaving early investors exposed to years of dilutive funding rounds.
Navigating these early-stage aviation equities requires identifying structural pivots before they are fully priced into the market. A pure-play focus on civilian urban air mobility presents a high-risk scenario tied entirely to municipal regulations and retail demand. To survive the prolonged path to commercialization, an aerospace developer needs a secondary source of capital to validate its core flight architecture.
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Entering the Arsenal: A Tactical AllianceArcher Aviation Today
$5.28 -0.04 (-0.66%)
As of 07/21/2026 03:59 PM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$4.30▼
$14.62Price Target$11.83
Archer Aviation NYSE: ACHR just altered that trajectory, forcing a structural repricing across the entire sector. Partnering with defense technology heavyweight Anduril, Archer Aviation unveiled its Thunder autonomous rotorcraft at the Farnborough International Airshow on July 20, 2026. By adapting its core flight architecture for contested defense environments, Archer Aviation is decisively bypassing civilian regulatory gridlock and tapping into immediate Department of War demand.
This strategic shift from a speculative civilian air-taxi provider to a manufacturer of artificial intelligence (AI) powered kinetic warfare hardware fundamentally changes the risk profile for Archer Aviation. The underlying flight technology is no longer waiting for consumer validation. It is being validated on the battlefield. Securing a dual-use military application completely shifts the narrative from cash-burning consumer tech to essential national security infrastructure.
Stealth and Stature: Flying Under the RadarWhen evaluating aerospace developers, identifying total addressable market expansion is a crucial fundamental metric. The Thunder platform is not a personnel transport vehicle. It is explicitly classified as a Group 5 autonomous attack rotorcraft, engineered to serve as a loyal wingman alongside crewed combat platforms like the AH-64 Apache.
The technical specifications perfectly align with modern asymmetric warfare requirements. Thunder integrates Archer Aviation's series-hybrid electric powertrain and dual tiltrotors with the Lattice mission autonomy software developed by Anduril.
The hardware allows for runway-independent operations and heavy modular payload delivery. Crucially, the electric propulsion reduces the aircraft's acoustic signature, enabling nap-of-the-earth flight to bypass radar in contested airspace.
From a capital structure perspective, the Department of War operates on a completely different budget paradigm than the retail consumer market. Military contracts offer structured milestone payments and established procurement volume, providing a pathway to non-dilutive capital.
Traditional pre-revenue developers survive by issuing secondary shares, heavily diluting existing shareholders to fund ongoing research. Securing early defense spending insulates the balance sheet from consumer macroeconomic headwinds and validates intellectual property in a way civilian prototypes cannot.
Desert Departure: Joby's Retail RunwayUnderstanding the gravity of this pivot requires looking at the broader competitive landscape. While Archer Aviation develops its defense applications, its peer, Joby Aviation NYSE: JOBY, currently dominates the civilian market. Joby Aviation has locked in a commercial launch in Dubai slated for 2026, working directly with established ride-sharing networks to launch a functional urban air mobility ecosystem.
The imminent revenue realization from Joby Aviation creates existential pressure on the rest of the sector. Engaging in a price-to-market war for civilian adoption against an entrenched competitor is a fast track to margin compression and capital exhaustion.
Archer Aviation recognized this threat and executed a strategic maneuver to capture a non-correlated revenue stream. Rather than fighting Joby Aviation for early market share in saturated urban centers, Archer Aviation is focusing on contested logistics and precision weapon deployment. This removes equity from direct civilian competition and positions it to capture government defense allocations, a sector that has remained historically robust regardless of broader economic conditions.
Burning Capital: The Liquidity EquationNavigating these specific equities requires strict attention to liquidity and capital runway. Archer Aviation ended the first quarter of 2026 with approximately $1.8 billion in total liquidity, combining cash and short-term investments.
This robust cash position is an absolute necessity against an elevated burn rate. The operations currently post an earnings before interest, taxes, depreciation, and amortization loss of roughly $200-$225 million per quarter, driven almost entirely by intensive research and development costs.
While the $1.8 billion provides a substantial buffer, the timeline remains extended. The official first flight for Thunder is scheduled for 2027, delaying immediate revenue recognition. The market responded enthusiastically to the Anduril partnership, sending shares up 19% on heavy options volume, with traders purchasing 77,081 call options in a single session.
Archer Aviation Inc. (ACHR) Price Chart for Wednesday, July, 22, 2026
Despite this retail momentum, structural overhead remains a prominent factor. Short interest sits between 15% and 17% of the free float, representing roughly 108 million shares sold short. With days-to-cover metrics ranging from 2.5 to 4.6, the stock has the structural framework for localized short-covering rallies amid high-volume catalyst events. However, careful investors must reconcile this options-driven momentum with recent executive actions.
Recent Form 4 filings reveal a persistent pattern of insider liquidations. Key executives executed numerous open-market sales over the trailing six months with zero open-market purchases. While insider selling often occurs for tax purposes or basic portfolio diversification, steady distribution during a major positive catalyst warrants close monitoring. It signals that management recognizes the lengthy commercialization timeline ahead and prefers immediate liquidity while waiting for defense contracts to materialize into hard revenue.
Final Approach: The Future of FlightThe integration of commercial electric aviation into military operations marks a definitive shift in defense procurement. Archer Aviation has successfully demonstrated that its proprietary propulsion and rotor designs have significant value beyond the highly speculative air-taxi market. The partnership with Anduril legitimizes the hardware, offering a viable path to government-backed funding that bypasses the friction of early retail adoption.
Market dynamics validate the necessity of this defense pivot, even if the timeline for materializing capital remains extended into 2027. This structural shift provides a compelling narrative for long-term valuation expansion, provided Archer Aviation can efficiently manage its cash bleed through the upcoming testing phases.
Investors seeking exposure to next-generation aerospace technologies might consider monitoring upcoming quarterly filings for any material shifts in research expenditures or definitive timelines regarding initial Department of War delivery milestones.
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California Public Employees' Retirement System ve 1. čtvrtletí zvýšil podíl v Host Hotels & Resorts o 10,5 % na 1 496 020 akcií. Hodnota podílu činila 28,664 milionu USD.
California Public Employees Retirement System grew its holdings in Host Hotels & Resorts, Inc. (NASDAQ:HST – Free Report) by 10.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,496,020 shares of the company’s stock after buying an additional 141,653 shares during the period. California Public Employees Retirement System owned 0.22% of Host Hotels & Resorts worth $28,664,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation National Association UT lifted its position in Host Hotels & Resorts by 89.1% during the 4th quarter. Zions Bancorporation National Association UT now owns 1,658 shares of the company’s stock worth $29,000 after acquiring an additional 781 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Host Hotels & Resorts during the second quarter worth $29,000. SJS Investment Consulting Inc. grew its position in Host Hotels & Resorts by 64.7% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,632 shares of the company’s stock valued at $31,000 after buying an additional 641 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in Host Hotels & Resorts in the 2nd quarter valued at $32,000. Finally, Cedar Mountain Advisors LLC purchased a new position in Host Hotels & Resorts during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 98.52% of the company’s stock.
Host Hotels & Resorts Stock Performance NASDAQ HST opened at $24.44 on Wednesday. The business has a 50 day moving average price of $23.64 and a 200 day moving average price of $20.99. The company has a market capitalization of $16.74 billion, a P/E ratio of 16.63, a PEG ratio of 2.71 and a beta of 1.09. Host Hotels & Resorts, Inc. has a 1-year low of $15.11 and a 1-year high of $25.41. The company has a debt-to-equity ratio of 0.74, a current ratio of 7.91 and a quick ratio of 7.91.
Host Hotels & Resorts (NASDAQ:HST – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.31. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Host Hotels & Resorts had a return on equity of 15.15% and a net margin of 16.40%.The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. Host Hotels & Resorts has set its FY 2026 guidance at 2.100-2.16 EPS. Sell-side analysts expect that Host Hotels & Resorts, Inc. will post 2.14 EPS for the current fiscal year.
Host Hotels & Resorts Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Host Hotels & Resorts’s dividend payout ratio (DPR) is 54.42%.
Wall Street Analysts Forecast Growth Several brokerages have recently weighed in on HST. BMO Capital Markets reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Host Hotels & Resorts in a report on Friday, June 12th. JPMorgan Chase & Co. boosted their target price on Host Hotels & Resorts from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday. Truist Financial increased their target price on Host Hotels & Resorts from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. UBS Group raised their price target on Host Hotels & Resorts from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Finally, Raymond James Financial restated an “outperform” rating and issued a $27.00 price target on shares of Host Hotels & Resorts in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Host Hotels & Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $24.20.
Check Out Our Latest Stock Analysis on Host Hotels & Resorts
Insider Buying and Selling at Host Hotels & Resorts In related news, EVP Nathan S. Tyrrell sold 58,579 shares of Host Hotels & Resorts stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $22.00, for a total transaction of $1,288,738.00. Following the completion of the transaction, the executive vice president directly owned 697,658 shares in the company, valued at $15,348,476. The trade was a 7.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.
Host Hotels & Resorts Company Profile (Free Report)
Host Hotels & Resorts, Inc is a real estate investment trust (REIT) focused on owning and managing premium lodging properties. The company’s portfolio predominantly comprises luxury and upper-upscale hotels and resorts operated under leading global brands. Through strategic acquisitions, dispositions and capital investments, Host Hotels & Resorts seeks to enhance long-term value by aligning property-level operating performance with broader market trends in hospitality demand.
The company’s holdings span major urban, resort and conference destinations across North America, Europe and the Asia-Pacific region.
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Assetmark Inc. trimmed its holdings in shares of Reddit Inc. (NYSE:RDDT – Free Report) by 8.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,971 shares of the company’s stock after selling 3,573 shares during the quarter. Assetmark Inc.’s holdings in Reddit were worth $5,517,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC grew its stake in Reddit by 143.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,982 shares of the company’s stock valued at $837,000 after purchasing an additional 4,701 shares during the period. Empowered Funds LLC purchased a new stake in shares of Reddit during the 1st quarter valued at $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Reddit by 106.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,960 shares of the company’s stock worth $22,759,000 after purchasing an additional 111,780 shares during the period. Focus Partners Wealth raised its stake in shares of Reddit by 40.8% during the 1st quarter. Focus Partners Wealth now owns 10,224 shares of the company’s stock worth $1,073,000 after purchasing an additional 2,965 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after buying an additional 286 shares during the last quarter.
Analysts Set New Price Targets RDDT has been the subject of several research reports. UBS Group restated a “mixed” rating on shares of Reddit in a research report on Thursday, July 9th. Bank of America dropped their target price on shares of Reddit from $205.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Citizens Jmp reduced their target price on shares of Reddit from $250.00 to $240.00 and set a “market outperform” rating for the company in a research report on Friday, May 1st. The Goldman Sachs Group restated a “neutral” rating and set a $200.00 price target on shares of Reddit in a research note on Friday, May 1st. Finally, Truist Financial set a $265.00 price target on shares of Reddit in a report on Friday, May 1st. Nineteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.48.
Get Our Latest Analysis on Reddit
Reddit Stock Up 2.4% Shares of NYSE RDDT opened at $185.93 on Wednesday. The company has a market cap of $35.79 billion, a P/E ratio of 53.12 and a beta of 1.93. Reddit Inc. has a 52 week low of $119.27 and a 52 week high of $282.95. The business has a 50-day simple moving average of $173.90 and a two-hundred day simple moving average of $168.62.
Reddit (NYSE:RDDT – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. The company had revenue of $663.41 million during the quarter, compared to analyst estimates of $607.74 million. Reddit had a net margin of 28.60% and a return on equity of 25.48%. Reddit’s revenue was up 69.1% compared to the same quarter last year. During the same period last year, the business earned $0.13 earnings per share. Equities research analysts anticipate that Reddit Inc. will post 4.85 EPS for the current year.
Insiders Place Their Bets In other news, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $173.13, for a total value of $3,116,340.00. Following the transaction, the chief executive officer owned 373,814 shares of the company’s stock, valued at approximately $64,718,417.82. This represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total value of $161,600.00. Following the completion of the sale, the chief accounting officer owned 15,060 shares in the company, valued at $3,012,000. This trade represents a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 169,141 shares of company stock worth $28,680,845 in the last three months. 28.48% of the stock is currently owned by corporate insiders.
Reddit Company Profile (Free Report)
Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.
Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.
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Earnings Preview & HistoryReddit is scheduled to report second-quarter earnings on July 30. The company is expected to report earnings per share of 97 cents along with revenue of $732.82 million. For the prior quarter, Reddit reported earnings per share of $1.01, beating the consensus estimate of 58 cents. The company also posted revenue of $663.41 million, exceeding the consensus estimate of $609.04 million.
Reddit has beaten EPS estimates in eight consecutive quarters. Over the last four quarters, the company has averaged an EPS surprise of 0.74% and a revenue surprise of 0.10%.
A Mixed Technical Picture Ahead of EarningsReddit is trading 6.1% below its 20-day SMA ($185.96), which tells you the stock has been losing short-term trend support and is now trying to stabilize after a pullback. At the same time, it’s still 1% above its 50-day SMA ($172.99) and 9.3% above its 100-day SMA ($159.74), so the intermediate trend hasn’t fully rolled over yet.
RSI is the cleaner momentum read right now: at 51.01, it’s neutral, suggesting the stock isn’t stretched enough to be "washed out," but it’s also not showing the kind of strong upside pressure that typically powers breakouts. In plain English, RSI helps gauge whether buying or selling has gotten overdone, and this reading points to a market that’s more balanced than emotional.
The moving-average structure is mixed: the 20-day SMA is above the 50-day SMA (a bullish short-term alignment), but the death cross from March (50-day SMA below the 200-day SMA) is still a longer-term caution flag. That combination often produces choppy trading where rallies can fade quickly unless price can reclaim the longer moving averages.
Key Resistance: $187.50 — close to the 20-day SMA/EMA area where recent bounces can run into supply Key Support: $158.50 — a nearby downside level to watch if the stock loses the 100-day SMA and sellers press the May swing-low zone Analyst Consensus & Recent Actions The stock carries a Buy rating with an average price forecast of $230.41. Recent analyst moves include:
Wedbush: Outperform (Target $250.00) (July 16) Wells Fargo: Equal-Weight (Raises Target to $187.00) (July 7) Needham: Buy (Maintains Target $300.00) (June 24) Benzinga Edge RankingsBelow is the Benzinga Edge scorecard for Reddit, highlighting its strengths and weaknesses compared to the broader market:
The Verdict: Reddit’s Benzinga Edge signal reveals a growth-heavy profile, with strong growth characteristics but a weak value setup. With momentum sitting in the middle, the next directional push likely depends on whether the stock can reclaim key moving averages ahead of earnings.
Reddit Shares PlummetRDDT Price Action: At the time of publication, Reddit shares are trading 5.69% lower at $175.26, according to data from Benzinga Pro.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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GE Vernova zvýšila celoroční výhled tržeb na 45,5–46,5 miliardy USD díky silné poptávce po elektřině a růstu objednávek. Zároveň očekává, že cla v roce 2026 zvýší náklady o 100–200 milionů USD.
GE Vernova's logo during the CERAWeek energy conference 2026 in Houston, Texas, U.S., March 24, 2026. REUTERS/Danielle Villasana Purchase Licensing Rights, opens new tab
CompaniesJuly 22 (Reuters) - GE Vernova (GEV.N), opens new tab said on Wednesday global tariffs would increase its costs by about $100 million to $200 million in 2026, after the company narrowly missed estimates for second-quarter core profit.
The expected cost increase reflects contract protections and some cost recovery efforts, though the tariff burden underscores the pressure on manufacturers navigating global trade barriers.
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GE Vernova shares were down 8% in premarket trading.
The Cambridge, Massachusetts-based company reported adjusted core earnings of $1.25 billion for the quarter, missing analysts' estimates of $1.28 billion, according to LSEG data.
Its wind business continued to lag its faster-growing Power and Electrification segments, as weaker onshore equipment deliveries and higher offshore wind project costs weighed on results.
Revenue from the wind segment fell about 10% to $2.03 billion, while its core loss widened to about $275 million.
POWER DEMAND DRIVES OUTLOOK UPGRADEThe company raised its 2026 revenue forecast for a second consecutive quarter, helped by strong power demand and rising orders.
It now expects $45.5 billion-$46.5 billion, up from $44.5 billion-$45.5 billion.
GE Vernova reported $24.2 billion in orders in the second quarter, compared with $12.4 billion a year earlier.
U.S. power consumption is forecast to rise in 2026 and 2027 as data center expansion and electrification drive demand, with commercial-sector demand expected to outpace residential this year.
It also raised its annual free cash flow forecast to $11.5 billion-$12.5 billion from its previous range of $6.5 billion-$7.5 billion.
The electrification unit reported a core profit of $671 million, up from $314 million a year ago, while the power unit posted $1.03 billion, nearly a 31.3% rise.
Reporting by Sumit Saha in Bengaluru; Editing by Vijay Kishore, Jonathan Ananda and Tasim Zahid
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Garmin oznámil akvizici platforem TrainingPeaks a TrainHeroic pro sportovce a trenéry. Transakce posílí jeho fitness ekosystém a rozšíří koučovací služby.
Acquisition enhances Garmin's athlete and coaching experiences
, /PRNewswire/ -- Garmin Ltd. (NYSE: GRMN) today announced it has acquired the TrainingPeaks and TrainHeroic training platforms for athletes and coaches. The acquisition strengthens Garmin's fitness ecosystem with customizable coaching experiences for endurance, strength and performance-focused athletes across every stage of their fitness journey.
Garmin has acquired the TrainingPeaks and TrainHeroic platforms to enhance its fitness ecosystem with customizable coaching experiences for endurance, strength and performance-based athletes. "TrainingPeaks and TrainHeroic share Garmin's passion for empowering athletes and coaches around the world with world-class training tools, performance metrics and actionable insights. The addition of these highly successful platforms to the Garmin ecosystem will expand access to more authentic coaching experiences—connecting athletes with professional coaches who guide, motivate and inspire them to reach their goals."
–Brad Trenkle, Garmin Co-Chief Operating Officer
"We're thrilled to join forces with Garmin to advance our shared mission of empowering coaches and athletes with science-based training. For over a decade, we've worked together to democratize coaching and performance insights, helping millions of athletes reach their peak through data-driven, structured training."
–Andy Stephens, CEO of Peaksware Holdings, parent company of TrainingPeaks and TrainHeroic
TrainingPeaks and TrainHeroic are digital services specializing in connecting coaches and athletes of all abilities who are looking to improve. Headquartered in Louisville, Colo., 120 combined associates from TrainingPeaks and TrainHeroic will join Garmin's global workforce. Financial terms of the acquisition will not be disclosed.
Engineered on the inside for life on the outside, Garmin products have revolutionized the aviation, automotive, fitness, marine and outdoor markets. Dedicated to helping people make the most of the time they spend pursuing their passions, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. Visit the Garmin Newsroom, email our media team, connect with @garmin on social, or follow our blog.
About Garmin Ltd. Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 27, 2025, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). Copies of such Form 10-K are available at https://www.garmin.com/en-US/investors/sec/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
MEDIA CONTACT:
Krista Klaus
913-397-8200
[email protected]
Rogers Communications vyhlásila čtvrtletní dividendu 50 centů na akcii pro své akcie třídy A i B. Výplata bude provedena 2. října 2026, rozhodný den je 8. září 2026.
October 2, 2026 payment date following September 8, 2026 record date July 22, 2026 07:00 ET | Source: Rogers Communications, Inc.
TORONTO, July 22, 2026 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) (“Rogers”) announced that a quarterly dividend totaling 50 cents per share (the “Quarterly Dividend”) has been declared on each of its outstanding Class B Non-Voting shares and Class A Voting shares.
The declared Quarterly Dividend will be paid October 2, 2026 to shareholders of record on September 8, 2026. Such quarterly dividends are only payable as and when declared by Rogers’ Board and there is no entitlement to any dividend prior thereto.
About Rogers Communications Inc:
Rogers is Canada’s communications, sports and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.
For further information:
Investor Relations
1-844-801-4792 [email protected]
Rogers Communications ve 2. čtvrtletí zvýšila tržby ze služeb o 8 % na 5,1 miliardy CAD a upravený EBITDA o 3 % na 2,4 miliardy CAD. Zároveň oznámila dohodu o koupi zbývajícího 25% podílu v MLSE za 4,35 miliardy CAD.
Rogers reports strong growth in consolidated service revenue and adjusted EBITDA, alongside decline in capital intensity strengthening free cash flow; company completes next stage of sports monetization strategy with agreement to buy remaining 25% minority stake in iconic Maple Leaf Sports & Entertainment (MLSE)
Total service revenue up 8% to $5.1 billion; adjusted EBITDA up 3% to $2.4 billionFree cash flow of $1.0 billion, up 6%Capital intensity improves 350 basis points to 12.4%, lowest capital intensity ratio since the first quarter of 2008Expects remaining minority stake purchase of MLSE to close in the fourth quarter Delivers adjusted EBITDA growth in Wireless and Cable; robust base management performance drives notable churn reduction while adding 57,000 combined mobile phone and retail Internet net additions
Wireless service revenue stable; adjusted EBITDA up 1% with adjusted EBITDA margin up 70 basis points to 66%Cable service revenue and adjusted EBITDA both up 1% with adjusted EBITDA margin up 10 basis points to 58%Postpaid mobile phone churn of 0.94%, mobile phone ARPU of $54.25Added 40,000 mobile phone net additions, including 22,000 postpaidRetail Internet net additions of 17,000 Robust sports and media financial results, agreement to purchase remaining minority stake in MLSE position company well for intended sports monetization opportunity
Revenue of $1.2 billion, up 53%; organic sports and media revenue up 13% excluding impact from MLSEAdjusted EBITDA of $69 million, an improvement of $61 millionFollowing close of minority stake purchase, investors to be offered minority stake in the consolidated Rogers world-class sports and media holdings to unlock significant value for company Company reaffirms its 2026 outlook
Total service revenue growth of 3% to 5%, adjusted EBITDA growth of 1% to 3%, capital expenditures of $2.5 billion to $2.7 billion, and free cash flow of $4.1 billion to $4.3 billion TORONTO, July 22, 2026 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (TSX: RCI.A and RCI.B; NYSE: RCI) today announced its unaudited financial and operating results for the second quarter ended June 30, 2026.
"Our second quarter results reflect strong execution, delivering growth across our three lines of business," said Tony Staffieri, President and CEO. "We’re excited to bring together Canada's premier communications company with one of the world's premier sports and entertainment organizations and unlock long-term value for our shareholders."
Consolidated Financial Highlights
(In millions of Canadian dollars, except per share amounts, unaudited)Three months ended June 30
Six months ended June 30 2026
2025
% Chg 2026
2025
% Chg
Total revenue5,615 5,216 8 11,097 10,192 9 Total service revenue5,055 4,668 8 9,967 9,115 9 Adjusted EBITDA12,442 2,362 3 4,806 4,616 4 Net (loss) income(665)148 n/m (183)428 n/m Net (loss) income attributable to RCI shareholders(726)157 n/m (288)437 n/m Adjusted net income1633 632 —
1,183 1,175 1 Adjusted net income attributable to RCI shareholders1640 620 3 1,190 1,163 2 Diluted (loss) earnings per share attributable to RCI shareholders($1.37)$0.29 n/m ($0.55)0.79 n/m Adjusted diluted earnings per share attributable to RCI shareholders1$1.15 $1.14 1 $2.17 2.14 1 Cash provided by operating activities1,517 1,596 (5)3,012 2,892 4 Free cash flow1982 925 6 1,758 1,511 16 n/m - not meaningful
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1 Adjusted EBITDA is a total of segments measure. Free cash flow is a capital management measure. Capital intensity and Wireless mobile phone ARPU are supplementary financial measures. Adjusted diluted earnings per share is a non-GAAP ratio. Adjusted net income and adjusted net income attributable to RCI shareholders (a component of adjusted diluted earnings per share) are non-GAAP financial measures. See "Non-GAAP and Other Financial Measures" in our Q2 2026 Management's Discussion and Analysis (MD&A), available at www.sedarplus.ca, and this earnings release for more information about each of these measures. These are not standardized financial measures under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other companies.
Strategic Highlights
The five objectives set out below guide our work and decision-making as we further improve our operational execution and make well-timed investments to grow our core businesses and deliver increased shareholder value. Below are some highlights for the quarter.
Build the biggest and best networks in the country
Ranked best 5G+ network in Canada by umlaut in June 2026, a global leader in independent network performance benchmarking.Expanded satellite-to-mobile coverage to the US for roaming customers, providing the most coverage in Canada and the US of any Canadian wireless service provider.Deployed cloud-native network technology as an additional layer of mobile network resilience with Nokia and AWS – a global first.Invested $27 million to upgrade Canada’s best 5G+ network at stadiums and fan zones in Toronto and Vancouver, host cities for the FIFA World Cup. Deliver easy to use, reliable products and services
Expanded Rogers Xfinity Multiview to allow viewers to watch four live events at once.Delivered new 5G+ plans with premium features, including industry‑first Priority Network Access.Launched Rogers Red Partner, an integrated point-of-sale and credit card program for small- and medium-sized businesses. Be the first choice for Canadians
More Canadians continued to choose Rogers Wireless and Internet over any other provider.Attracted attendance over 95% of capacity for Toronto Blue Jays games at Rogers Centre, the best second quarter attendance since 1994.Reached 24 million Canadians throughout the 2026 Stanley Cup Playoffs on Sportsnet.Secured the #1 Canadian conventional English-language drama for the third consecutive year with Law & Order Toronto: Criminal Intent. Be a strong national company investing in Canada
Invested $695 million in capital expenditures.Launched "The 5.2 Project" as part of our Screen Break program to help Canadian youth balance their screen time.Named one of Canada’s Greenest Employers for the eleventh consecutive year by Mediacorp Canada Inc.Announced a new long-term agreement renewing Rogers as a partner of Toronto Pearson Airport. Be the growth leader in our industry
Grew total service revenue by 8% and adjusted EBITDA by 3%.Generated strong free cash flow of $982 million and cash flow from operating activities of $1,517 million. Update on sports and entertainment assets
On July 6, 2026, we announced we had entered into an agreement to acquire the remaining 25% ownership interest in MLSE from Kilmer Sports Inc. for $4.35 billion in cash (MLSE minority interest acquisition), which we intend to fund through existing and new short-term credit facilities. Upon completion of this transaction, we will own 100% of MLSE. This transaction is subject to league approvals and is expected to close in the fourth quarter. As a result of this agreement, we have recognized a loss related to the MLSE put liability (see "Review of Consolidated Performance" for more information).
MLSE owns the Toronto Maple Leafs (NHL), Toronto Raptors (NBA), Toronto FC (MLS), Toronto Argonauts (CFL), various minor league teams, and associated real estate holdings, including Scotiabank Arena. MLSE also holds interests in certain entities that are complementary to its sports and events businesses. Following completion of this transaction, MLSE will become a wholly owned subsidiary of Rogers, further enhancing our sports and entertainment portfolio, which also includes the Toronto Blue Jays, Rogers Centre, and Sportsnet.
Following the close of the above transaction, we intend to pursue the sale of a minority interest in our consolidated sports, media, and entertainment assets (Rogers Sports) to third-party investors over the next year. We expect this will unlock significant value for Rogers.
Quarterly Financial Highlights
Revenue
Total revenue and total service revenue increased by 8% this quarter, primarily as a result of revenue growth in Media and Cable.
Wireless service revenue this quarter was in line with the prior year as the impact of the cumulative addition of new customers was offset by a decline in mobile phone ARPU. Wireless equipment revenue increased by 2%, primarily as a result of a continued shift in the product mix towards higher-value devices.
Cable service revenue increased by 1% this quarter, primarily as a result of retail Internet subscriber growth and base management activities. Excluding the impact of the sale of our customer-facing data centre business in 2025, Cable service revenue would have increased by 2% this quarter.
Media revenue increased by 53% this quarter, primarily as a result of revenue from MLSE following the July 1, 2025 closing of the MLSE Transaction.
Adjusted EBITDA and margins
Consolidated adjusted EBITDA increased 3% this quarter, primarily as a result of EBITDA growth in Media, and our adjusted EBITDA margin decreased by 180 basis points.
Wireless adjusted EBITDA increased by 1%, primarily as a result of higher equipment margins. This gave rise to an adjusted EBITDA margin of 66%, up 70 basis points.
Cable adjusted EBITDA increased by 1% due to the flow-through impact of higher revenue, as discussed above. This gave rise to an adjusted EBITDA margin of 58%, up 10 basis points. Excluding the impact of the sale of our customer-facing data centre business in 2025, Cable adjusted EBITDA would have increased by 2% this quarter.
Media adjusted EBITDA increased by $61 million this quarter, primarily due to the aforementioned revenue impacts and associated costs.
Net loss and adjusted net income
There was a net loss of $665 million this quarter as a result of the $1,034 million non-cash loss on revaluation of the MLSE put liability (see "Update on sports and entertainment assets"). Adjusted net income this quarter was in line with the prior year, as higher adjusted EBITDA was offset by higher depreciation and amortization and higher finance costs.
Cash flow, available liquidity, and returns to shareholders
This quarter, we generated cash provided by operating activities of $1,517 million (2025 - $1,596 million), which decreased as a result of higher net investment in net operating assets and liabilities partially offset by higher adjusted EBITDA, and free cash flow of $982 million (2025 - $925 million), which increased primarily as a result of lower capital expenditures and higher adjusted EBITDA, partially offset by distributions to non-controlling interests. Our free cash flow generation is expected to further strengthen our balance sheet over time through accelerated repayment of debt.
As at June 30, 2026, we had $6.1 billion of available liquidity2 (December 31, 2025 - $5.9 billion), reflecting $1.7 billion in cash and cash equivalents and $4.4 billion available under our bank and other credit facilities.
Our debt leverage ratio2 was 3.8 as at June 30, 2026 (December 31, 2025 - 4.0, or 3.92 on an adjusted basis to include trailing 12-month adjusted EBITDA of a combined Rogers and MLSE as if the MLSE Transaction had closed at the beginning of the trailing 12-month period). See "Financial Condition" for more information.
We also returned $270 million in dividends to shareholders this quarter and we declared a $0.50 per share dividend on July 21, 2026.
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2 Available liquidity and debt leverage ratio are capital management measures. Pro forma debt leverage ratio is a non-GAAP ratio. Pro forma trailing 12-month adjusted EBITDA is a non-GAAP financial measure and is a component of pro forma debt leverage ratio. See "Non-GAAP and Other Financial Measures" and "Financial Condition" in our Q2 2026 Management's Discussion and Analysis (MD&A), available at www.sedarplus.ca, and "Non-GAAP and Other Financial Measures" in this earnings release for more information about these measures. These are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other companies. See "Financial Condition" in our Q2 2026 MD&A for a reconciliation of available liquidity.
About this Earnings Release
This earnings release contains important information about our business and our performance for the three and six months ended June 30, 2026 and forward-looking information (see "About Forward-Looking Information") about future periods. This earnings release should be read in conjunction with our Second Quarter 2026 Interim Condensed Consolidated Financial Statements (Second Quarter 2026 Interim Financial Statements) and notes thereto, which have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting, as issued by the International Accounting Standards Board (IASB); our Second Quarter 2026 MD&A; our 2025 Annual MD&A; our 2025 Annual Audited Consolidated Financial Statements and notes thereto, which have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the IASB; and our other recent filings with Canadian and US securities regulatory authorities, including our Annual Information Form, which are available on SEDAR+ at sedarplus.ca or EDGAR at sec.gov.
For more information about Rogers, including product and service offerings, competitive market and industry trends, our overarching strategy, key performance drivers, and objectives, see "Understanding Our Business", "Corporate Overview", and "Delivering on our Priorities" in our 2025 Annual MD&A.
References to the Shaw Transaction are to our acquisition of Shaw Communications Inc. (Shaw) on April 3, 2023 (see "Shaw Transaction" in our 2023 Annual MD&A and our 2023 Annual Audited Consolidated Financial Statements). References to the MLSE Transaction are to our acquisition of BCE Inc.'s (Bell) indirect 37.5% interest in Maple Leaf Sports & Entertainment Ltd. (MLSE) on July 1, 2025 (see "MLSE Transaction" in our 2025 Annual MD&A and our 2025 Annual Audited Consolidated Financial Statements). References to the "network transaction" are to our sale of a non-controlling interest in Backhaul Network Services Inc. (BNSI), a Canadian subsidiary of Rogers that owns a minor part of our wireless network (see "Subsidiary Equity Investment" in our 2025 Annual MD&A and our 2025 Annual Audited Consolidated Financial Statements).
We, us, our, Rogers, Rogers Communications, and the Company refer to Rogers Communications Inc. and its subsidiaries. RCI refers to the legal entity Rogers Communications Inc., not including its subsidiaries. Rogers also holds interests in various investments and ventures.
All dollar amounts in this earnings release are in Canadian dollars unless otherwise stated and are unaudited. All percentage changes are calculated using the rounded numbers as they appear in the tables. This earnings release is current as at July 21, 2026 and was approved by the Audit and Risk Committee of RCI's Board of Directors (the Board) on that date.
In this earnings release, this quarter, the quarter, or second quarter refer to the three months ended June 30, 2026, the first quarter refers to the three months ended March 31, 2026, and year to date refers to the six months ended June 30, 2026, unless the context indicates otherwise. All results commentary is in descending order of magnitude and is compared to the equivalent period in 2025 or as at December 31, 2025, as applicable, unless otherwise indicated.
Reportable segments
We report our results of operations in three reportable segments. Each segment and the nature of its business is as follows:
SegmentPrincipal activitiesWirelessWireless telecommunications operations for Canadian consumers, businesses, the public sector, and wholesale providers.CableCable telecommunications operations, including Internet, television and other video (Video), Satellite, telephony (Home Phone), and home monitoring services for Canadian consumers and businesses, and network connectivity through our fibre network to support a range of voice, data, networking, hosting, and cloud-based services for the business, public sector, and carrier wholesale markets.MediaA diversified portfolio of media properties, including sports media and entertainment, sports team ownership, television and radio broadcasting, specialty channels, and digital media.
Wireless and Cable are operated by our wholly owned subsidiary, Rogers Communications Canada Inc. (RCCI), and certain other subsidiaries. Media is operated by our wholly owned subsidiary, Rogers Media Inc., its subsidiaries, and MLSE. Effective July 2025, TSC was transferred from the Media reportable segment to Corporate Items, consistent with changes to its management structure. Comparative results have been recast to reflect this change, with no impact on consolidated results.
Summary of Consolidated Financial Results
Three months ended June 30
Six months ended June 30
(In millions of dollars, except margins and per share amounts)2026
2025
% Chg 2026
2025
% Chg Revenue Wireless2,540 2,540 — 5,131 5,084 1 Cable1,984 1,968 1 3,932 3,903 1 Media1,155 757 53 2,143 1,299 65 Corporate items and intercompany eliminations(64)(49)31 (109)(94)16 Revenue5,615 5,216 8 11,097 10,192 9 Total service revenue15,055 4,668 8 9,967 9,115 9 Adjusted EBITDA Wireless1,313 1,305 1 2,636 2,616 1 Cable1,158 1,147 1 2,280 2,255 1 Media69 8 n/m 69 (55)n/m Corporate items and intercompany eliminations(98)(98)— (179)(200)(11)Adjusted EBITDA2,442 2,362 3 4,806 4,616 4 Adjusted EBITDA margin243.5%45.3%(1.8 pts)43.3%45.3%(2.0 pts) Net (loss) income(665)148 n/m (183)428 n/m Net (loss) income attributable to RCI shareholders(726)157 n/m (288)437 n/m (Loss) earnings per share attributable to RCI shareholders: Basic($1.34)$0.29 n/m ($0.53)$0.81 n/m Diluted($1.37)$0.29 n/m ($0.55)$0.79 n/m Adjusted net income2633 632 — 1,183 1,175 1 Adjusted net income attributable to RCI shareholders2640 620 3 1,190 1,163 2 Adjusted earnings per share attributable to RCI shareholders2: Basic$1.19 $1.15 3 $2.20 $2.16 2 Diluted$1.15 $1.14 1 $2.17 $2.14 1 Capital expenditures695 831 (16)1,503 1,809 (17)Cash provided by operating activities1,517 1,596 (5)3,012 2,892 4 Free cash flow982 925 6 1,758 1,511 16 1 As defined. See "Key Performance Indicators".
2 Adjusted EBITDA margin is a supplementary financial measure. Adjusted basic and adjusted diluted earnings per share attributable to RCI shareholders are non-GAAP ratios (of which adjusted net income attributable to RCI shareholders is a component). These are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other companies. See "Non-GAAP and Other Financial Measures" in our Q2 2026 MD&A for more information about each of these measures, available at www.sedarplus.ca.
Results of our Reportable Segments
WIRELESS
Wireless Financial Results
Three months ended June 30
Six months ended June 30
(In millions of dollars, except margins)2026
2025
% Chg 2026
2025
% Chg Revenue Service revenue from external customers1,954 1,972 (1)3,951 3,975 (1)Service revenue from internal customers36 27 33 70 50 40 Service revenue1,990 1,999 — 4,021 4,025 — Equipment revenue from external customers550 541 2 1,110 1,059 5 Revenue2,540 2,540 — 5,131 5,084 1 Operating costs Cost of equipment503 528 (5)1,044 1,036 1 Other operating costs724 707 2 1,451 1,432 1 Operating costs1,227 1,235 (1)2,495 2,468 1 Adjusted EBITDA1,313 1,305 1 2,636 2,616 1 Adjusted EBITDA margin166.0%65.3%0.7 pts 65.6%65.0%0.6 pts Capital expenditures188 365 (48)467 772 (40) 1 Calculated using service revenue.
Wireless Subscriber Results 1
Three months ended June 30
Six months ended June 30
(In thousands, except churn and mobile phone ARPU)2026
2025
Chg 2026
2025
Chg Postpaid mobile phone Gross additions333 362 (29)762 699 63 Net additions22 35 (13)50 46 4 Total postpaid mobile phone subscribers211,045 10,910 135 11,045 10,910 135 Churn (monthly)0.94%1.00%(0.06 pts) 1.08%1.01%0.07 pts Prepaid mobile phone Gross additions199 135 64 348 267 81 Net additions18 26 (8)23 49 (26)Total prepaid mobile phone subscribers21,223 1,160 63 1,223 1,160 63 Churn (monthly)5.01%3.23%1.78 pts 4.52%3.28%1.24 pts Mobile phone ARPU (monthly)3$54.25 $55.45 ($1.20)$54.94 $56.24 ($1.30) 1 Subscriber counts and subscriber churn are key performance indicators. See "Key Performance Indicators".
2 As at end of period.
3 Mobile phone ARPU is a supplementary financial measure. See "Non-GAAP and Other Financial Measures" in our Q2 2026 MD&A for more information about this measure, available at www.sedarplus.ca.
Service revenue
Service revenue this quarter and year to date were in line with the prior year as the cumulative addition of new customers was offset by a decline in mobile phone ARPU as a result of the cumulative impact of competitive intensity.
The decreases in postpaid gross and net additions this quarter were a result of the overall slowing of population growth in Canada. The increases in postpaid gross and net additions year to date were a result of sales execution in a highly promotional and competitive Canadian market in the first quarter of 2026.
Equipment revenue
The 2% increase in equipment revenue this quarter and 5% increase year to date were primarily a result of:
a continued shift in the product mix towards higher-value devices; partially offset bya decrease in new subscribers purchasing devices. The increase year to date was also affected by higher device upgrades by existing customers.
Operating costs
Cost of equipment
The 5% decrease in the cost of equipment this quarter and 1% increase year to date were a result of the equipment revenue changes discussed above.
Other operating costs
The 2% increase in other operating costs this quarter and 1% increase year to date were a result of:
costs associated with our new satellite-to-mobile product offering; andhigher costs associated with marketing and advertising initiatives. Adjusted EBITDA
The 1% increases in adjusted EBITDA this quarter and year to date were a result of the revenue and expense changes discussed above.
CABLE
Cable Financial Results
Three months ended June 30
Six months ended June 30
(In millions of dollars, except margins)2026
2025
% Chg 2026
2025
% Chg Revenue Service revenue from external customers1,952 1,944 — 3,874 3,851 1 Service revenue from internal customers22 17 29 38 34 12 Service revenue1,974 1,961 1 3,912 3,885 1 Equipment revenue from external customers10 7 43 20 18 11 Revenue1,984 1,968 1 3,932 3,903 1 Operating costs826 821 1 1,652 1,648 — Adjusted EBITDA1,158 1,147 1 2,280 2,255 1 Adjusted EBITDA margin58.4%58.3%0.1 pts 58.0%57.8%0.2 pts Capital expenditures367 404 (9)775 850 (9)
Cable Subscriber Results 1
Three months ended June 30
Six months ended June 30
(In thousands, except ARPA and penetration)2026
2025
Chg 2026
2025
Chg Homes passed210,624 10,354 270 10,624 10,354 270 Customer relationships Net additions9 16 (7)6 20 (14)Total customer relationships24,862 4,825 37 4,862 4,825 37 ARPA (monthly)3$135.49 $135.74 ($0.25)$134.32 $136.59 ($2.27) Penetration245.8%46.6%(0.8 pts) 45.8%46.6%(0.8 pts) Retail Internet Net additions17 26 (9)24 49 (25)Total retail Internet subscribers24,521 4,446 75 4,521 4,446 75 Video Net losses(22)(25)3 (54)(57)3 Total Video subscribers22,449 2,560 (111)2,449 2,560 (111)Home Monitoring Net additions1 3 (2)5 8 (3)Total Home Monitoring subscribers2158 141 17 158 141 17 Home Phone Net losses(26)(29)3 (56)(55)(1)Total Home Phone subscribers21,333 1,452 (119)1,333 1,452 (119) 1 Subscriber results are key performance indicators. See "Key Performance Indicators".
2 As at end of period.
3 ARPA is a supplementary financial measure. See "Non-GAAP and Other Financial Measures" in our Q2 2026 MD&A for more information about this measure, available at www.sedarplus.ca.
Service revenue
The 1% increases in service revenue this quarter and year to date were a result of:
retail Internet subscriber growth; andbase management activities, including adjustments to subscriber rates and bundled service offerings; partially offset bydeclines in our Home Phone and Video subscriber bases. Excluding the impact of the sale of our customer-facing data centre business in 2025, Cable service revenue would have increased by 2% this quarter and year to date.
Operating costs
The 1% increase in operating costs this quarter was a result of:
increased licensing rights associated with changes to our bundled service offerings; partially offset byother efficiency and productivity initiatives. Operating costs for the year to date were stable.
Adjusted EBITDA
The 1% increases in adjusted EBITDA this quarter and year to date were a result of the service revenue and expense changes discussed above. Excluding the impact of the sale of our customer-facing data centre business in 2025, Cable adjusted EBITDA would have increased by 2% this quarter and year to date.
MEDIA
Media Financial Results
Three months ended June 30
Six months ended June 30
(In millions of dollars, except margins)2026
2025
% Chg
2026
2025
% Chg Revenue from external customers1,075 679 58 1,991 1,142 74 Revenue from internal customers80 78 3 152 157 (3)Revenue1,155 757 53 2,143 1,299 65 Operating costs1,086 749 45 2,074 1,354 53 Adjusted EBITDA69 8 n/m 69 (55)n/m Adjusted EBITDA margin6.0%1.1%4.9 pts
3.2%(4.2)%7.4 pts Capital expenditures43 26 65 119 61 95
Revenue
The 53% increase in revenue this quarter and 65% increase year to date were a result of:
approximately $0.31 billion and $0.79 billion in revenue from the consolidation of MLSE beginning in the second half of 2025, respectively; andexcluding the consolidation of MLSE, organic growth of 13% and 6%, respectively, substantially reflects higher Toronto Blue Jays revenue, primarily driven by higher game day attendance and sponsorships. Higher subscriber revenue from the Warner Bros. Discovery suite of channels substantially offset lower advertising revenue, primarily as a result of lower participation by Canadian teams in the NHL playoffs and ongoing softness in media advertising. Operating costs
The $337 million (45%) increase in operating costs this quarter and $720 million (53%) increase year to date were a result of:
approximately $0.23 billion and $0.64 billion of increased costs from the consolidation of MLSE; andthe combined effect of higher player salaries and other game day costs at the Toronto Blue Jays and higher programming costs. Adjusted EBITDA
The increases in adjusted EBITDA this quarter and year to date were a result of the revenue and expense changes discussed above.
CAPITAL EXPENDITURES
Three months ended June 30
Six months ended June 30
(In millions of dollars, except capital intensity)2026
2025
% Chg 2026
2025
% Chg Wireless188 365 (48)467 772 (40)Cable367 404 (9)775 850 (9)Media43 26 65 119 61 95 Corporate97 36 169 142 126 13 Capital expenditures1695 831 (16)1,503 1,809 (17) Capital intensity212.4%15.9%(3.5 pts)13.5%17.7%(4.2 pts) 1 Includes additions to property, plant and equipment net of proceeds on disposition and accrued government grants, but does not include expenditures for spectrum licences, additions to right-of-use assets, or assets acquired through business combinations.
2 Capital intensity is a supplementary financial measure. See "Non-GAAP and Other Financial Measures" in our Q2 2026 MD&A for more information about this measure, available at www.sedarplus.ca.
We continue to (i) expand the reach and capacity of our 5G network across the country and (ii) invest in fibre deployments, including fibre-to-the-home (FTTH), in our cable network as we expand our network footprint to reach more homes and businesses, including in rural, remote, and Indigenous communities. These investments are expected to strengthen network resilience and stability and help us bridge the digital divide by expanding our network further into rural and underserved areas through participation in various programs and projects.
In April 2026, we updated our 2026 capital expenditure guidance range (see "Financial Guidance") as a direct reflection of the ongoing impacts from heightened competitive intensity and recent regulatory decisions. Our strategic priorities remain unchanged and our current capital expenditure guidance range continues to support these priorities. We expect to achieve our guidance range through (i) ongoing investments progressing at a slower pace, (ii) the deferral and/or cancellation of certain projects, and (iii) lower capital costs for projects, most predominantly affecting Wireless and Cable.
Wireless
In addition to the above, the decreases in capital expenditures in Wireless this quarter and year to date were due to the impact of $90 million of proceeds received on the sale of certain network assets. We continued to expand and enhance our wireless network through investments in network development and 5G deployment. We are actively deploying advanced spectrum assets, including the ongoing rollout of 3500 MHz spectrum and 3800 MHz spectrum. These investments build on our existing 5G infrastructure in the 600 MHz spectrum band, enabling greater speed, lower latency, and improved reliability for customers across urban and rural areas.
Cable
In addition to the above, the decreases in capital expenditures in Cable this quarter and year to date were a result of customers increasingly choosing to self-install new products. This quarter, we also sold certain cable network assets for $46 million (2025 - $47 million), the proceeds from which reduced capital expenditures. We are growing our network through expanded fibre deployments to increase our FTTH distribution and to extend our service footprint. At the same time, we are enhancing our network by upgrading our DOCSIS 3.1 platform as we transition to DOCSIS 4.0 to improve network resilience, stability, and capacity while delivering faster speeds. As part of this upgrade, we are rolling out mid-split technology (which has a greater number of frequencies than older technology and also allocates a greater number of frequencies to uploading data) in Ontario and Eastern Canada, significantly increasing upload speeds. These advancements leverage the latest technologies to provide greater bandwidth, improved performance, and an enhanced customer experience as we advance our connected home roadmap.
Media
The increases in capital expenditures in Media this quarter and year to date primarily reflect the continued modernization of Rogers Centre and Scotiabank Arena.
Capital intensity
Capital intensity decreased this quarter and year to date as a result of the revenue growth and capital expenditure changes discussed above.
Review of Consolidated Performance
This section discusses our consolidated net income and other income and expenses that do not form part of the segment discussions above.
Three months ended June 30
Six months ended June 30
(In millions of dollars)2026
2025
% Chg 2026
2025
% Chg Adjusted EBITDA2,442 2,362 3 4,806 4,616 4 Deduct (add): Depreciation and amortization1,194 1,184 1 2,415 2,350 3 Restructuring, acquisition and other211 238 (11)260 365 (29)Finance costs565 628 (10)1,008 1,207 (16)Gain on disposition of assets(30)— — (30)— — Other expense (income)1,019 (9)n/m 1,015 (7)n/m Income tax expense148 173 (14)321 273 18 Net (loss) income(665)148 n/m (183)428 n/m
Depreciation and amortization
Three months ended June 30
Six months ended June 30 (In millions of dollars)2026
2025
% Chg
2026
2025
% Chg
Depreciation of property, plant and equipment931 933 — 1,888 1,864 1 Depreciation of right-of-use assets122 113 8 244 211 16 Amortization141 138 2 283 275 3 Total depreciation and amortization1,194 1,184 1 2,415 2,350 3
Restructuring, acquisition and other
Three months ended June 30 Six months ended June 30 (In millions of dollars)2026
2025 2026
2025
Restructuring, acquisition and other excluding Shaw Transaction integration-related costs207 213 245 303 Shaw Transaction integration-related costs4 25 15 62 Total restructuring, acquisition and other211 238 260 365
The restructuring, acquisition and other costs excluding Shaw Transaction integration-related costs in the second quarters of 2025 and 2026 primarily include severance and other departure-related costs associated with the targeted restructuring of our employee base, specifically including $120 million arising from a voluntary departure program in 2026. Year to date, we also incurred costs associated with certain litigation. In 2025, these costs also included costs related to the network transaction, an unfavourable regulatory decision related to retransmission of distant signals, and real estate rationalization programs.
The Shaw Transaction integration-related costs in 2025 and 2026 consisted of incremental costs supporting integration activities related to the Shaw Transaction.
Finance costs
Three months ended June 30
Six months ended June 30
(In millions of dollars)2026
2025
% Chg 2026
2025
% Chg Interest on borrowings, net1502 488 3 984 999 (2)Interest on lease liabilities41 36 14 80 72 11 Interest on post-employment benefits(1)(1)— (3)(3)— Loss (gain) on foreign exchange30 (75)n/m 37 (86)n/m Change in fair value of derivative instruments(23)59 n/m (35)72 n/m Change in fair value of subsidiary equity derivative instruments2(16)93 n/m (121)93 n/m Capitalized interest(8)(8)— (14)(17)(18)Deferred transaction costs and other40 36 11 80 77 4 Total finance costs565 628 (10)1,008 1,207 (16) 1 Interest on borrowings, net includes interest on short-term borrowings and on long-term debt.
2 Reflects the change in fair value of derivatives entered into related to the network transaction (see "Financial Risk Management" in our Q2 2026 MD&A for more information). This amount is removed from the calculation of adjusted net income and adjusted net income attributable to RCI shareholders (see below).
Other expense
The other expense this quarter and year to date primarily reflects a $1,034 million non-cash loss to recognize the change in the fair value of the MLSE put liability from $3.3 billion to $4.35 billion as at June 30, 2026 (see "Update on sports and entertainment assets").
Income tax expense
Three months ended June 30
Six months ended June 30(In millions of dollars, except tax rates)2026
2025
2026
2025
Statutory income tax rate26.2%26.2%26.2%26.2%(Loss) income before income tax expense(517)321 138 701 Computed income tax (recovery) expense(135)84 36 184 Increase (decrease) in income tax expense resulting from: Non-(taxable) deductible stock-based compensation(7)1 (4)(1)Non-(taxable) deductible portion of equity (income) losses(1)1 (3)1 Non-deductible loss on revaluation of MLSE put liability274 — 274 — Non-(taxable) deductible portion of capital (gains) losses(10)44 (10)44 Unrealized capital losses for which no deferred tax asset is recognized19 45 19 45 Other items8 (2)9 — Total income tax expense148 173 321 273 Effective income tax rate(28.6)%
53.9%232.6%38.9%Cash income taxes paid166 126 366 314 Cash income taxes paid increased this quarter and year to date due to timing of installments.
Net (loss) income
Three months ended June 30
Six months ended June 30 (In millions of dollars, except per share amounts)2026
2025 % Chg
2026
2025 % Chg
Net (loss) income(665)148 n/m (183)428 n/m Net (loss) income attributable to RCI shareholders(726)157 n/m (288)437 n/m Basic (loss) earnings per share attributable to RCI shareholders($1.34)$0.29 n/m ($0.53)$0.81 n/m Diluted (loss) earnings per share attributable to RCI shareholders($1.37)$0.29 n/m ($0.55)$0.79 n/m
Adjusted net income
We calculate adjusted net income from adjusted EBITDA as follows:
Three months ended June 30
Six months ended June 30
(In millions of dollars, except per share amounts)2026
2025
% Chg 2026
2025
% Chg
Adjusted EBITDA2,442 2,362 3 4,806 4,616 4 Deduct (add): Depreciation and amortization11,022 972 5 2,062 1,909 8 Finance costs2581 535 9 1,129 1,114 1 Other income3(15)(9)67 (19)(7)171 Income tax expense4221 232 (5)451 425 6 Adjusted net income633 632 — 1,183 1,175 1 Adjusted net income attributable to RCI shareholders640 620 3 1,190 1,163 2 Adjusted earnings per share attributable to RCI shareholders: Basic$1.19 $1.15 3 $2.20 $2.16 2 Diluted$1.15 $1.14 1 $2.17 $2.14 1 1 Depreciation and amortization excludes depreciation and amortization on the fair value increment recognized on acquisition of Shaw Transaction-related property, plant and equipment and intangible assets for the three and six months ended June 30, 2026 of $172 million and $353 million (2025 - $212 million and $441 million). Adjusted net income includes depreciation and amortization on the acquired Shaw property, plant and equipment and intangible assets based on Shaw's historical cost and depreciation policies.
2 Finance costs exclude the $16 million and $121 million (2025 - $93 million and $93 million) change in fair value of subsidiary equity derivative instruments for the three and six months ended June 30, 2026.
3 Other income excludes a $1,034 million non-cash loss on revaluation of the MLSE put liability (see "Update on sports and entertainment assets" for more information).
4 Income tax expense excludes recoveries of $73 million and $130 million (2025 - recoveries of $59 million and $152 million), respectively, for the three and six months ended June 30, 2026 related to the income tax impact for adjusted items.
Regulatory Developments
See "Regulation in our Industry" in our 2025 Annual MD&A for a discussion of the significant regulations that affected our operations as at March 6, 2026. The following are the relevant developments since that date.
Prohibition of Fees
On March 12, 2026, the Canadian Radio‑television and Telecommunications Commission (CRTC) issued Telecom Regulatory Policy CRTC 2026‑43, Prohibition of fees that are a barrier to switching cellphone and Internet plans, regarding fees incurred as a result of activating or modifying telecommunications service plans. The policy amends both the Internet Code and the Wireless Code to add a new definition of "activation or modification fee", which amendments became effective on June 12, 2026. On June 30, 2026, the CRTC issued Notice of Consultation CRTC 2026-155, Show cause and call for comments – Compliance with the prohibition of fees that are a barrier to switching cellphone and Internet plans, requiring each of Rogers, Bell, and Telus Corporation to show cause why certain fees charged by those carriers that the CRTC believes may be in contravention of Telecom Regulatory Policy 2026-43 are not in violation of sections 24 and 27.04 of the Telecommunications Act and Telecom Regulatory Policy 2026-43. Submissions addressing the issues are due to the CRTC by July 30, 2026.
CRTC Codes of Conduct
On April 13, 2026, in Telecom Regulatory Policy CRTC 2026-67, Enhancing customer notifications, the CRTC amended the Wireless Code and the Internet Code to set out what information must be included in notices sent to customers before the end of their contract and to require notifications to customers before the end of a time-limited discount or promotion and when their data usage reaches $50 when roaming internationally. The new requirements will come into effect on April 13, 2027.
Online Streaming Act
On May 21, 2026, the CRTC issued Broadcasting Regulatory Policies CRTC 2026-95 and 2026-96, which introduced (i) a new financial contribution requirement of 1.55% of annual Canadian broadcasting revenues to support a new Services of Exceptional Importance Fund (SEIF) applicable to all broadcasting ownership groups with annual revenues of at least $100 million and (ii) a new Canadian Programming Expenditures (CPE) framework. On June 3, 2026, the Government of Canada directed the CRTC to review its decision to regulate online streamers and Canadian broadcasters and stated it would be issuing new policy directions to the CRTC requiring it to adjust its implementation of the Online Streaming Act.
Updates to Risks and Uncertainties
See "Risk Management" and "Regulation in our Industry" in our 2025 Annual MD&A for a discussion of the principal risks and uncertainties that could have a material adverse effect on our business and financial results as at March 6, 2026, which should be reviewed in conjunction with this earnings release. The following updates and supplements those risks and uncertainties.
Monetization of sports, media, and entertainment assets
We intend to sell a minority interest in Rogers Sports after obtaining a 100% ownership interest in MLSE (see "Update on sports and entertainment assets"). While we believe there is a significant market for these assets, there is no guarantee we will be successful in selling a minority interest, whether at the expected investment amount, within the anticipated timing, or at all. Such a sale would also require approval from the various leagues governing our professional sports teams, which is not guaranteed. We may not proceed with, or complete, any sale of a minority interest in Rogers Sports, whether at the expected investment amount, within the anticipated timing, or at all, due to alternative opportunities or requirements, general economic and market conditions, or other internal or external considerations.
Sports franchises
After obtaining a 100% ownership interest in MLSE (see "Update on sports and entertainment assets"), our exposure to risks associated with owning and operating sports franchises will increase.
Financial Guidance
On April 22, 2026, concurrently with the release of our first quarter 2026 results, we updated our consolidated guidance ranges for select full-year 2026 financial metrics that were originally provided on January 29, 2026 as a direct reflection of the ongoing impacts from heightened competitive intensity and recent regulatory decisions. This press release is available under Rogers' profile on SEDAR+ at sedarplus.ca and on EDGAR at sec.gov.
Key Performance Indicators
We measure the success of our strategy using a number of key performance indicators that are defined and discussed in our 2025 Annual MD&A and this earnings release. We believe these key performance indicators allow us to appropriately measure our performance against our operating strategy and against the results of our peers and competitors. The following key performance indicators, some of which are supplementary financial measures (see "Non-GAAP and Other Financial Measures"), are not measurements in accordance with IFRS. They include:
subscriber counts; Wireless;Cable; andhomes passed (Cable); Wireless subscriber churn (churn);Wireless mobile phone average revenue per user
(ARPU); Cable average revenue per account (ARPA);Cable customer relationships;Cable market penetration (penetration);capital intensity; andtotal service revenue. Non-GAAP and Other Financial Measures
Reconciliation of adjusted EBITDA
Three months ended June 30
Six months ended June 30
(In millions of dollars)2026
2025
2026
2025
Net (loss) income(665)148 (183)428 Add (deduct): Income tax expense148 173 321 273 Finance costs565 628 1,008 1,207 Depreciation and amortization1,194 1,184 2,415 2,350 EBITDA1,242 2,133 3,561 4,258 Add (deduct): Other expense (income)1,019 (9)1,015 (7)Restructuring, acquisition and other211 238 260 365 Gain on disposition of assets(30)— (30)— Adjusted EBITDA2,442 2,362 4,806 4,616
Reconciliation of adjusted net income
Three months ended June 30
Six months ended June 30
(In millions of dollars)2026
2025
2026
2025
Net (loss) income(665)148 (183)428 Add (deduct): Restructuring, acquisition and other211 238 260 365 Change in fair value of subsidiary equity derivative instruments(16)93 (121)93 Depreciation and amortization on fair value increment of Shaw Transaction-related assets172 212 353 441 Loss on revaluation of MLSE put liability1,034 — 1,034 — Gain on disposition of assets(30)— (30)— Income tax impact of above items(73)(59)(130)(152) Adjusted net income633 632 1,183 1,175
Reconciliation of pro forma trailing 12-month adjusted EBITDA
As at
December 31 (In millions of dollars)2025 Trailing 12-month adjusted EBITDA9,820 Add (deduct): MLSE adjusted EBITDA - January to June 2025166 Pro forma trailing 12-month adjusted EBITDA9,986
Reconciliation of adjusted net income attributable to RCI shareholders
Three months ended June 30
Six months ended June 30
(In millions of dollars)2026
2025
2026
2025
Net (loss) income attributable to RCI shareholders(726)157 (288)437 Add (deduct): Restructuring, acquisition and other211 238 260 365 Change in fair value of subsidiary equity derivative instruments(16)93 (121)93 Depreciation and amortization on fair value increment of Shaw Transaction-related assets172 212 353 441 Loss on revaluation of MLSE put liability1,034 — 1,034 — Gain on disposition of assets(30)— (30)— Revaluation of subsidiary US dollar-denominated balances180 (21)131 (21)Income tax impact of above items(85)(59)(149)(152) Adjusted net income attributable to RCI shareholders640 620 1,190 1,163 1 Reflects RCI's share of the impacts of foreign exchange revaluation on US dollar-denominated intercompany balances in BNSI, our non-wholly owned subsidiary formed in connection with the network transaction. These impacts are eliminated on consolidation.
Reconciliation of free cash flow
Three months ended June 30
Six months ended June 30
(In millions of dollars)2026
2025
2026
2025
Cash provided by operating activities1,517 1,596 3,012 2,892 Add (deduct): Capital expenditures(695)(831)(1,503)(1,809)Interest on borrowings, net and capitalized interest(494)(480)(970)(982)Interest paid456 395 1,008 990 Restructuring, acquisition and other211 238 260 365 Program rights amortization(33)(31)(86)(50)Change in net operating assets and liabilities160 28 319 111 Distributions paid by subsidiaries to non-controlling interests(117)— (233)— Net cash proceeds on subsidiary equity derivatives12 — 24 — Post-employment benefit contributions, net of expense(18)(19)(34)(36)Cash flows relating to other operating activities(16)38 (37)35 Other investment income(1)(9)(2)(5) Free cash flow982 925 1,758 1,511 Rogers Communications Inc.
Interim Condensed Consolidated Statements of Income
(In millions of Canadian dollars, except per share amounts, unaudited)
Three months ended June 30
Six months ended June 30
2026
2025
2026
2025
Revenue5,615 5,216 11,097 10,192 Operating expenses: Operating costs3,173 2,854 6,291 5,576 Depreciation and amortization1,194 1,184 2,415 2,350 Restructuring, acquisition and other211 238 260 365 Finance costs565 628 1,008 1,207 Gain on disposition of assets(30)— (30)— Other expense (income)1,019 (9)1,015 (7) (Loss) income before income tax expense(517)321 138 701 Income tax expense148 173 321 273 Net (loss) income for the period(665)148 (183)428 Net (loss) income for the period attributable to: RCI shareholders(726)157 (288)437 Non-controlling interest61 (9)105 (9) (Loss) earnings per share attributable to RCI shareholders: Basic($1.34)$0.29 ($0.53)$0.81 Diluted($1.37)$0.29 ($0.55)$0.79 Rogers Communications Inc.
Interim Condensed Consolidated Statements of Financial Position
(In millions of Canadian dollars, unaudited)
As at
June 30 As at
December 31 2026 2025 Assets Current assets: Cash and cash equivalents1,726 1,344 Accounts receivable5,728 6,105 Inventories553 550 Current portion of contract assets153 151 Other current assets1,341 1,239 Current portion of derivative instruments303 99 Total current assets9,804 9,488 Property, plant and equipment26,286 26,307 Intangible assets28,771 28,898 Investments1,292 1,291 Derivative instruments960 746 Financing receivables1,065 1,198 Other long-term assets2,093 2,052 Goodwill20,032 20,032 Total assets90,303 90,012 Liabilities and equity Current liabilities: Short-term borrowings2,237 4,000 Accounts payable and accrued liabilities4,375 4,831 Other current liabilities4,838 3,831 Contract liabilities952 1,114 Current portion of long-term debt4,855 1,186 Current portion of lease liabilities728 690 Total current liabilities17,985 15,652 Provisions56 55 Long-term debt35,191 35,872 Lease liabilities2,687 2,428 Other long-term liabilities2,063 2,225 Deferred tax liabilities9,471 9,494 Total liabilities67,453 65,726 Equity Equity attributable to RCI shareholders16,559 17,751 Non-controlling interest6,291 6,535 Equity22,850 24,286 Total liabilities and equity90,303 90,012 Rogers Communications Inc.
Interim Condensed Consolidated Statements of Cash Flows
(In millions of Canadian dollars, unaudited)
Three months ended June 30
Six months ended June 30
2026
2025
2026
2025
Operating activities: Net (loss) income for the period(665)148 (183)428 Adjustments to reconcile net income to cash provided by operating activities: Depreciation and amortization1,194 1,184 2,415 2,350 Program rights amortization33 31 86 50 Finance costs565 628 1,008 1,207 Income tax expense148 173 321 273 Post-employment benefits contributions, net of expense18 19 34 36 Income from associates and joint ventures(14)— (17)(2)Gain on disposition of assets(30)— (30)— Loss on revaluation of MLSE put liability1,034 — 1,034 — Other16 (38)37 (35)Cash provided by operating activities before changes in net operating assets and liabilities, income taxes paid, and interest paid2,299 2,145 4,705 4,307 Change in net operating assets and liabilities(160)(28)(319)(111)Income taxes paid(166)(126)(366)(314)Interest paid, net(456)(395)(1,008)(990) Cash provided by operating activities1,517 1,596 3,012 2,892 Investing activities: Capital expenditures(695)(831)(1,503)(1,809)Additions to program rights and other intangible assets(43)(24)(141)(48)Changes in non-cash working capital related to investing activities(83)(68)(195)(56)Acquisitions and other strategic transactions, net of cash acquired— — (85)— Other(6)7 (9)8 Cash used in investing activities(827)(916)(1,933)(1,905) Financing activities: Net proceeds received from (repayment of) short-term borrowings161 (483)(1,791)(1,336)Net (repayment) issuance of long-term debt— (2,178)2,169 424 Net proceeds (payments) on settlement of debt derivatives and subsidiary equity derivatives20 (6)26 77 Transaction costs incurred(2)(61)(29)(99)Principal payments of lease liabilities(141)(134)(297)(267)Dividends paid to RCI shareholders(270)(188)(540)(373)Distributions paid by subsidiaries to non-controlling interests(117)— (233)— Issuance of subsidiary shares to non-controlling interest— 6,656 — 6,656 Other(1)(3)(2)(4) Cash (used in) provided by financing activities(350)3,603 (697)5,078 Change in cash and cash equivalents340 4,283 382 6,065 Cash and cash equivalents, beginning of period1,386 2,680 1,344 898 Cash and cash equivalents, end of period1,726 6,963 1,726 6,963 About Forward-Looking Information
This earnings release includes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information"), and assumptions about, among other things, our business, operations, and financial performance and condition approved by our management on the date of this earnings release. This forward-looking information and these assumptions include, but are not limited to, statements about our objectives and strategies to achieve those objectives, and about our beliefs, plans, expectations, anticipations, estimates, or intentions.
Forward-looking information
typically includes words like could, expect, may, anticipate, assume, believe, intend, estimate, plan, project, guidance, outlook, target, and similar expressions;includes conclusions, forecasts, and projections that are based on our current objectives and strategies and on estimates, expectations, assumptions, and other factors that we believe to have been reasonable at the time they were applied but may prove to be incorrect; andwas approved by our management on the date of this earnings release. Our forward-looking information in this earnings release includes forecasts and projections related to the following items, among others:
revenue;total service revenue;adjusted EBITDA;capital expenditures;cash income tax payments;free cash flow (including its application to strengthen our balance sheet through accelerated debt repayment);dividend payments;the growth of new products and services;expected growth in subscribers and the services to which they subscribe; the cost of acquiring and retaining subscribers and deployment of new services;continued cost reductions and efficiency improvements;our debt leverage ratio and how we intend to manage that ratio;the completion and funding of the MLSE minority interest acquisition, including its timing, and the sale of a minority interest in Rogers Sports to third-party investors, including the timing, size, and proceeds therefrom; andall other statements that are not historical facts. Our conclusions, forecasts, and projections in this earnings release are based on a number of estimates, expectations, assumptions, and other factors, including, among others:
general economic and industry conditions, including the effects of inflation;currency exchange rates and interest rates;product pricing levels and competitive intensity;subscriber growth;pricing, usage, and churn rates;changes in government regulation; technology and network deployment;availability of devices;timing of new product launches;content and equipment costs;the integration of acquisitions; andindustry structure and stability.
Except as otherwise indicated, this earnings release and our forward-looking information do not reflect the potential impact of any non-recurring or other special items or of any dispositions, monetization events, mergers, acquisitions, other business combinations, or other transactions that may be considered or announced or may occur after the date on which the statement containing the forward-looking information is made.
Risks and uncertainties
Actual events and results may differ materially from what is expressed or implied by forward-looking information in this earnings release as a result of risks, uncertainties, and other factors, many of which are beyond our control or our current expectations or knowledge, including, but not limited to:
regulatory changes;technological changes;economic, geopolitical, and other conditions affecting commercial activity and the costs of goods and services, including the potential application or modification of tariffs, trade wars, recessions, or reduced immigration levels;unanticipated changes in content or equipment costs;changing conditions in the sports, media, entertainment, information, and communications industries;performance of our sports teams, including uncertainty as to their participation or success in their respective postseasons;sports-related work stoppages or cancellations and labour disputes;the integration of acquisitions;litigation and tax matters;the level of competitive intensity;the emergence of new opportunities;external threats, such as epidemics, pandemics, and other public health crises, natural disasters, the effects of climate change, or cyberattacks, among others;the MLSE minority interest acquisition is subject to closing conditions and termination rights and may not be completed on the anticipated terms, in the anticipated timeline, or at all; the anticipated benefits of the MLSE minority interest acquisition may not be realized;we may be unable to proceed with, or complete, the sale of a minority interest in Rogers Sports, within the anticipated timing or at all, due to alternative opportunities or requirements, general economic and market conditions, or other internal or external considerations;if completed, the sale of a minority interest in Rogers Sports may not be at the expected valuation or may not raise the anticipated proceeds;we may fund all or a portion of the MLSE minority interest acquisition through alternate sources;new interpretations or accounting standards, or changes to existing interpretations and accounting standards, from accounting standards bodies; changes to the methodology, criteria, or conclusions used by rating agencies in assessing or assigning equity treatment or equity credit on our subordinated notes or for the network transaction; and the other risks outlined in "Risks and Uncertainties Affecting our Business" in our 2025 Annual MD&A and "Updates to Risks and Uncertainties" in this earnings release.
These risks, uncertainties, and other factors can also affect our objectives, strategies, plans, and intentions. Should one or more of these risks, uncertainties, or other factors materialize, our objectives, strategies, plans, or intentions change, or any other factors or assumptions underlying the forward-looking information prove incorrect, our actual results and our plans could vary materially from what we currently foresee.
Accordingly, we warn investors to exercise caution when considering statements containing forward-looking information and caution them that it would be unreasonable to rely on such statements as creating legal rights regarding our future results or plans. We are under no obligation (and we expressly disclaim any such obligation) to update or alter any statements containing forward-looking information or the factors or assumptions underlying them, whether as a result of new information, future events, or otherwise, except as required by law. All of the forward-looking information in this earnings release is qualified by the cautionary statements herein.
Before making an investment decision
Before making any investment decisions and for a detailed discussion of the risks, uncertainties, and environment associated with our business, its operations, and its financial performance and condition, fully review the sections in our 2025 Annual MD&A entitled "Regulation in our Industry" and "Risk Management", as well as our various other filings with Canadian and US securities regulators, which can be found at sedarplus.ca and sec.gov, respectively. Information on or connected to sedarplus.ca, sec.gov, our website, or any other website referenced in this document is not part of or incorporated into this earnings release.
About Rogers
Rogers is Canada's communications, sports and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI).
Investment Community ContactMedia Contact Paul CarpinoSarah Schmidt647.435.6470647.643.6397paul.carpino@[email protected]
Quarterly Investment Community Teleconference
Our second quarter 2026 results teleconference with the investment community will be held on:
July 22, 20268:00 a.m. Eastern Timewebcast available at about.rogers.com/investor-relationsmedia are welcome to participate on a listen-only basis A rebroadcast will be available at about.rogers.com/investor-relations for at least two weeks following the teleconference. Additionally, investors should note that from time to time, Rogers management presents at brokerage-sponsored investor conferences. Most often, but not always, these conferences are webcast by the hosting brokerage firm, and when they are webcast, links are made available on our website at about.rogers.com/investor-relations.
For More Information
You can find more information relating to us on our website (about.rogers.com/investor-relations), on SEDAR+ (sedarplus.ca), and on EDGAR (sec.gov), or you can e-mail us at [email protected]. Information on or connected to these and any other websites referenced in this earnings release is not part of, or incorporated into, this earnings release.
You can also go to about.rogers.com/investor-relations for information about our governance practices, corporate social responsibility reporting, a glossary of communications and media industry terms, and additional information about our business.
Evropa podle šéfa Equinoru pravděpodobně nesplní cíl naplnit zásobníky plynu na 80 % před zimou. Zásoby jsou jen na 54 % a kontinent tak čeká větší cenová volatilita.
Anders Opedal, CEO of Equinor, speaks to Reuters reporters as major oil executives, energy ministers, mining and government officials attend CERAWeek by S&P Global in Houston, Texas, U.S.,... Purchase Licensing Rights, opens new tab Read more
SummaryCompaniesStorage levels below five-year averageAsian buyers draw LNG cargoes from EuropeEurope will be more exposed to price swings, Equinor CEO saysOSLO, July 22 (Reuters) - The CEO of Europe's largest supplier of natural gas expects the region to fall short of its goal to fill gas storage sites to 80% of capacity before the winter, hampered by market tightness that has increased competition from buyers in Asia.
Gas volumes at European storage sites are significantly lower than the five-year average and at their second-lowest level in 15 years, Equinor (EQNR.OL), opens new tab chief Anders Opedal told Reuters on Wednesday after the company reported its highest quarterly profit since early 2023.
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"We do not think that Europe will necessarily be able to fill up its stocks to more than 80% this autumn," Opedal said.
As a result of lower gas storage levels, which currently stand at 54%, Europe will be more exposed to market price swings this winter than in previous winters, he added.
The U.S.-Iran war has effectively halted shipping through the Strait of Hormuz, including about a fifth of the world's liquefied natural gas, typically delivered to Asian customers.
Europe, meanwhile, has been unable to call on Russian pipeline gas as those supplies are phased out because of the war in Ukraine.
Equinor says that Europe relies on LNG to meet about 30% of its import needs, but supply is now missing.
"The gas that was supposed to come from Qatar was supposed to go to Asia, and that means that LNG that earlier in the year came into Europe is now going to Asia," Opedal said, referring to the increased competition for global supplies.
Reporting by Nora Buli Editing by Terje Solsvik and David Goodman
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Žaloba tvrdí, že Meta při výběru zaměstnanců k propuštění použila nástroje AI, ale zaměstnanci zatím nedokážou prokázat, jak přesně byly využity. Soud zatím zamítl jejich návrh na dočasný zákaz dokončení propouštění 26 zaměstnanců.
Item 1 of 3 A 3D-printed Meta logo and word "AI" are seen in this illustration created on July 20, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
[1/3]A 3D-printed Meta logo and word "AI" are seen in this illustration created on July 20, 2026. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesCase against Meta is first to target AI use in layoffsWorkers grappling with lack of evidence, arbitration pactsObstacles help explain dearth of AI-related lawsuits by workersJuly 22 (Reuters) - A novel lawsuit claiming that Meta Platforms (META.O), opens new tab relied on discriminatory AI tools to select employees for layoffs highlights the problems workers face in suing employers over the new technology, including proving how it was actually used.
The case helps illustrate why a widely predicted wave of employment lawsuits over AI use has yet to arrive. Legal experts say workers often have little understanding of how AI systems are used in the workplace and many have also signed away their right to sue in court, agreeing instead to resolve workplace disputes through a private process called arbitration that can keep such claims from ever being tested publicly.
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In a ruling last week declining to block Meta from finalizing the terminations of 26 people who sued, U.S. District Judge William Orrick identified a fundamental obstacle for plaintiffs who allege that AI discriminated against them: "they were not in the rooms where it happened."
That means workers like the Meta employees, who claim they were targeted for layoffs because they have disabilities or took medical or family leave, often cannot muster the evidence of wrongdoing necessary to quickly secure a win in court.
And they face another obstacle: Like a majority of U.S. workers, the plaintiffs are bound by an arbitration agreement, meaning they cannot band together in a class action, put their case before a jury, or push for a multimillion-dollar settlement in open court.
ARBITRATION AGREEMENTS BLOCK LAWSUITSCompanies generally prefer arbitration, which they say is a faster, cheaper alternative to court, while worker advocates say it often favors employers and discourages workers from bringing claims. The arbitration process is also confidential, so it can shield unfavorable evidence unearthed in an individual case from wider disclosure.
"Even if you establish that a particular system would produce discriminatory outcomes left and right, you have no way of sharing that information with other employees," said Christine Webber, co-chair of the civil rights and employment practice at plaintiffs' firm Cohen Milstein Sellers & Toll. Webber's firm is not involved in the Meta case.
Webber and other plaintiffs' lawyers said those hurdles explain the lack of high-profile court cases involving employers' use of AI even as it becomes routine, and why even the lawsuit against Meta seeking only temporary relief is unusual.
One of the few cases to emerge over companies' workplace use of AI tools involves Workday (WDAY.O), opens new tab, which is facing claims that its popular HR management software unlawfully filtered out applicants for jobs at other companies based on race, age and disability. Arbitration is not an issue in that case because Workday does not have agreements with its customers' job applicants. Workday denies the allegations.
PLAINTIFFS SEEK INJUNCTIONThe agreements signed by the Meta workers contain a common, narrow exception for seeking a court order that temporarily blocks one side from taking some irreversible action. But that exception is typically invoked in cases involving the alleged theft of trade secrets or the solicitation of clients or employees, and not layoffs of at-will workers.
Orrick denied the plaintiffs a temporary restraining order that would have stopped Meta from completing the layoffs. He must still decide whether to issue a preliminary injunction, a temporary but longer-lasting order that would put the workers back in their jobs until their individual arbitration cases are resolved. He said he could change his mind and grant the injunction if the plaintiffs come up with evidence "regarding whether and how AI was used in an improper manner."
A hearing is scheduled for August 24, and the losing side can appeal Orrick's decision.
The plaintiffs claim that in selecting jobs to cut, Meta consulted AI tools that tracked productivity and AI token usage (a measure of how much workers use AI tools), disadvantaging people who missed work because of medical conditions or to care for family members.
They allege that Meta used a number of internal AI-assisted systems including a large language model assistant known as "Metamate," an employee-trained "second brain" that tracked workers' communications and documents, and a productivity score drawn from scanning keystrokes, screen content, emails and browser history, according to the lawsuit.
Meta said in court filings and statements last week in response to the lawsuit that humans made all of the decisions concerning nearly 8,000 layoffs announced earlier this year and has denied treating AI usage as a basis for identifying workers to terminate or to conduct performance reviews. A Meta spokesman said on Tuesday that the company had no further comment.
Orrick said in his decision that he was bound to take Meta at its word since the plaintiffs could not present any evidence to rebut those claims.
The plaintiffs' lawyers in a joint statement last week acknowledged the hurdles they face in gathering evidence, even calling on current and former Meta employees to contact them with knowledge of how AI was used in the selection process.
"Meta holds virtually all the relevant information," they said.
Reporting by Daniel Wiessner in Albany, New York; Editing by Alexia Garamfalvi and Matthew Lewis
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Dan Wiessner (@danwiessner) reports on labor and employment and immigration law, including litigation and policy making. He can be reached at [email protected].
Alphabet v 1. čtvrtletí poprvé za deset let neprovedl žádné zpětné odkupy vlastních akcií a místo toho zvýšil kapitálové výdaje na 35,67 miliardy USD. Firma zároveň míří do AI, včetně zhruba 40miliardového podílu v Anthropic.
Alphabet (NASDAQ:GOOGL | GOOGL Price Prediction) is asking its investors to accept a trade-off that would have been unthinkable a year ago: give up the buybacks, and trust the AI bet instead.
According to CNBC’s MacKenzie Sigalos, in a segment on how “Alphabet sacrifices buybacks to fund its AI buildout,” the Google parent repurchased nothing in the first quarter, the first time it has bought back zero stock in a decade. That halts a buyback spree that returned close to $300 billion over the past five years. “Alphabet repurchased close to $300 billion worth of stock over the past five years, more than any of the other major AI hyperscalers,” Sigalos noted. “But then in Q1 it bought back nothing for the first time in a decade.”
The company’s own filings back that up. Alphabet listed no share repurchases in Q1 2026, while capital expenditures climbed to $35.67 billion, up 107.44% YoY, as the company nearly doubled its AI infrastructure spending. For the full year, Alphabet has guided to capex in the range of $175-$185 billion, disclosed in the company’s Q4 2025 SEC filings.
The Bet: Build, Don’t Buy Back The logic is a confidence statement about AI’s profitability. “Management is betting that the same cash can earn a greater return by building the infrastructure needed to run and sell AI at scale,” Sigalos explained. In other words, Alphabet believes a dollar spent on AI-serving infrastructure will beat the immediate earnings-per-share lift it would get from shrinking its share count.
Alphabet is also buying stakes. “They’ve also been putting it toward a very aggressive venture operation,” Sigalos said. “Close to $40 billion stake in Anthropic.” That is the eye-opener: the same cash that once flowed back to shareholders is now funding both Alphabet’s own data centers and a massive equity position in one of the leading rival AI labs. Alphabet is hedging its in-house Gemini development with a strategic position in a direct competitor, spreading its bets across the AI landscape.
The Proof Point Arrives at Earnings All of this sets up a high-stakes test when Alphabet reports. The number to watch is Google Cloud. “The whisper number is around 70% growth year over year,” Sigalos said, “and Alphabet has got to show that giving up the immediate return from buybacks can produce faster cloud growth and stronger margins.” Cloud grew 63% in the first quarter, so a step up toward 70% would help validate the reallocation. Faster cloud growth and expanding margins are the receipts management needs to justify sending buyback cash into servers and startups.
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Prediction markets already lean heavily toward a beat. Polymarket traders assign a 96.3% probability that Alphabet clears the earnings bar ahead of its upcoming earnings report, though shares have slipped -5.67% over the past month even as they sit up 83.14% over the last year.
The Bigger Question Underneath the numbers sits a debate about what this spending really signals. As the CNBC host put it, “Buybacks are what companies do if they don’t feel they have productive use for the cash. It’s surplus cash.” By that logic, halting buybacks says Alphabet believes it now has a productive use for every dollar. The bull case is conviction: a company seeing returns so compelling it would rather build than hand cash back.
The bear case is less flattering. It reads the buyback halt as competitive conformity in an AI arms race where enormous spending has become table stakes. The distinction matters for shareholders, because one interpretation means the money compounds and the other means it evaporates.
There is a telling detail in the comparison set. Among Alphabet, Microsoft, and Amazon, only Microsoft repurchased stock in the recent period. That makes Alphabet’s pivot part of a broader pattern of hyperscalers prioritizing the buildout over shareholder returns.
For now, Alphabet has drawn a clear line: the future of the company runs through AI infrastructure and strategic stakes like Anthropic. Whether that was visionary capital allocation or expensive herd behavior will start to become clear when Cloud’s numbers land. Investors who spent five years enjoying $300 billion in repurchases are being asked to be patient.
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Čipy Nvidia a další čipy pro AI minulý týden oslabily po uvedení modelu Kimi 3 od Moonshot. Text ale tvrdí, že jeho provoz stále vyžaduje špičkový hardware a síťování od Nvidia. Kimi 3 je 2,8bilionový model a vyžaduje 1,5 TB paměti s vysokou propustností.
Shares of Nvidia (NVDA +2.10%) and most of the AI-related semiconductor sector sold off last week after Moonshot, a China-based AI start-up, released its Kimi 3 model.
Kimi made waves across the industry, as the open-weights model displayed impressive performance against even the latest frontier models by Anthropic and OpenAI.
But the knee-jerk reactions to Kimi 3 seem like an echo of the DeepSeek and TurboQuant sell-offs of early 2025 and 2026, respectively. In both cases, innovations that made AI much more efficient didn't derail the AI build-out; in fact, one could argue they accelerated it by lowering adoption costs.
While these past cases aren't perfect mirrors of Kimi 3, here's why Nvidia investors shouldn't panic over this new model.
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Why Kimi sent a shudder through U.S. AI stocks Although Moonshot and other Chinese AI labs may have smuggled in some Nvidia chips illegally, Moonshot likely doesn't have access to nearly as many Nvidia chips for model training as the leading U.S. labs. There is also some uncertainty about whether Moonshot merely "distilled" a leading LLM from either Anthropic or OpenAI, essentially copying the weights from the U.S. labs.
Either way, Kimi 3 appears to have been trained at a small fraction of the cost of leading U.S. models, leading to panic over whether the U.S. giants should and will keep spending on high-end, very expensive Nvidia GPUs.
Another reason why Kimi may have spurred a sell-off in Nvidia and AI memory stocks is that it displayed a novel innovation called Kimi Delta Attention (KDA). This architecture enables the model to selectively read prior tokens to process new ones, rather than reading all prior tokens. The result is a 75% decline in KV cache, essentially an AI's short-term memory required to run the model, and a sixfold increase in speed. That means the model requires less memory and processing power, all things being equal.
Kimi doesn't lower inference requirements as much as feared Regardless of how Kimi was trained, if consumers and enterprises want to use it, the model has to run. And while KDA certainly makes more efficient use of KV cache, other architectural features make it somewhat compute-intensive, requiring high-end hardware such as the latest Nvidia racks.
First, Kimi 3 is a massive 2.8 trillion-parameter model that requires 1.5 terabytes of high-bandwidth memory. Second, Kimi 3 uses 896 experts in a "mixture of experts" architecture. A mixture of experts means a query can go to a specific, specialized "subnetwork" of the entire model, so each query doesn't have to run the entire model.
While that theoretically frees up space and lowers speed and cost, Kimi 3's experts aren't loaded entirely onto a GPU but rather are split across 16 experts per GPU, requiring at least 56 chips to hold and inference the model. Spreading the experts over more chips is a technique called WideEP.
According to chip research firm SemiAnalysis, this means that to run the model efficiently, one will need high-end chip systems with the required number of chips and associated networking, such as the Nvidia GB300 NVL72 reference architecture. Moreover, SemiAnalysis says that the lower KV cache per chip requires a subsequent massive scale-up in bandwidth to coordinate the dozens of chips required. That means a greater focus on rack-level networking and, therefore, Nvidia's NVLink technology.
Image source: Nvidia.
Don't forget U.S. regulations or the Jevons paradox Finally, even if Kimi does deliver certain efficiencies, many workloads likely won't be able to run Chinese models, especially if they have been distilled -- a fancy word for "pirated" -- from leading U.S. labs. Regulations will likely still spur many U.S. enterprises to adopt U.S.-based models, or at least take security precautions that will also increase costs.
Meanwhile, even if Kimi 3 still provides much more efficient frontier-level AI usage, the Jevons paradox, an economic concept that states as technology makes resource use more efficient, overall resource consumption increases rather than decreases, indicates this will only unlock greater adoption and usage, offsetting any efficiencies regarding Nvidia chips or memory.
Just as the DeepSeek and TurboQuant scares of 2025 and early 2026 proved to be buying opportunities in AI names, it appears as though the Kimi 3-inspired sell-off looks to be another such opportunity for long-term investors.
Investice 1 000 USD do akcií Nvidia při spuštění DeepSeek-R1 by dnes měla hodnotu asi 1 480 USD, tedy zhruba o 48 % více. Akcie se po lednovém propadu téměř o 17 % zotavily.
A $1,000 investment in Nvidia (NASDAQ: NVDA) around the launch of DeepSeek-R1 in January 2025 would be worth approximately $1,480 today, representing a gain of about 48%.
DeepSeek-R1, unveiled on January 20, 2025, drew global attention by demonstrating advanced reasoning capabilities at a fraction of the computing cost of many leading AI models.
The development sparked concerns that more efficient AI systems could reduce demand for expensive AI hardware.
Those fears culminated on January 27, 2025, when Nvidia shares plunged nearly 17% in a single session, erasing roughly $600 billion in market value in the largest one-day market-cap loss ever recorded by a public company.
The downturn proved temporary as Nvidia recovered and continued climbing. An investor who bought about 7.14 shares at roughly $140 each shortly after the DeepSeek-R1 launch would now hold a position worth around $1,480, based on Nvidia’s current share price near $207.
NVDA one-year stock price chart. Source: Finbold Nvidia’s rebound after DeepSeek AI scare While DeepSeek-R1 raised concerns about AI infrastructure spending, the broader AI market continued expanding throughout 2025 and into 2026.
Nvidia benefited from sustained investment by hyperscalers, enterprises, and AI developers building large-scale training and inference systems.
The company also continued advancing its data center and AI chip offerings, helping maintain its leadership position.
Nvidia’s business has continued expanding at a rapid pace based on the financial figures. The company reported record fiscal 2026 revenue of $215.9 billion, including $68.1 billion in fourth-quarter revenue and $62.3 billion from its data center segment.
Investor attention is now turning to Nvidia’s August 4 earnings report. In this line, recent market expectations call for quarterly revenue of around $91 billion, reflecting continued demand for Blackwell AI systems.
Additional support has come from improving sentiment around international sales. Recent U.S. approvals allowing limited AI chip exports to China have eased some concerns about access to one of the world’s largest AI markets.
Despite periodic volatility, Wall Street continues to view Nvidia as one of the main beneficiaries of the global AI buildout. The upcoming earnings report is expected to provide a key test of whether massive AI infrastructure spending by major technology companies can continue at its current pace.
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Johnson & Johnson získal od FDA marketingové povolení pro robotický chirurgický systém Ottava. Firma zahájí omezené komerční uvedení na americký trh s vybranými zákazníky.
People gather next to a logo of Johnson & Johnson at the company’s booth at the 8th China International Import Expo (CIIE) in Shanghai, China, November 6, 2025.REUTERS/Maxim Shemetov Purchase Licensing Rights, opens new tab
CompaniesJuly 22 (Reuters) - Johnson & Johnson (JNJ.N), opens new tab said on Wednesday the U.S. Food and Drug Administration had granted marketing authorization for its robotic surgery device, clearing the way for the healthcare conglomerate to enter the soft-tissue robotic surgery market.
The Ottava robotic surgical system was authorized for use in multiple general surgery procedures in the upper abdomen, including gastric bypass, gastrectomy, gallbladder removal, gastric sleeve surgery, appendectomy and hiatal hernia repair.
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J&J said it would begin a U.S. commercial launch with select customers, while working to expand the system into additional indications and regulatory markets.
Reporting by Puyaan Singh in Bengaluru; Editing by Joyjeet Das
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Target jmenoval bývalého generálního ředitele 7-Eleven Joe DePinta do správní rady. Přichází v době, kdy se maloobchodník snaží o obrat po několika letech slabého růstu tržeb.
A Target logo appears in this illustration taken August 18, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesJuly 22 (Reuters) - Target (TGT.N), opens new tab on Wednesday named former 7-Eleven CEO Joe DePinto to its board, adding an industry veteran as the retailer works to sustain a turnaround under new CEO Michael Fiddelke.
DePinto, who led convenience-store operator 7-Eleven for nearly two decades, brings over 30 years of experience across the retail and consumer sectors. He has also held senior leadership roles at PepsiCo (PEP.O), opens new tab and GameStop (GME.N), opens new tab.
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The appointment comes as Target seeks to regain momentum after several years of sluggish sales growth, which saw shoppers gravitate toward lower-priced rivals and pull back on discretionary purchases.
Since taking over as CEO earlier this year from longtime chief Brian Cornell, Fiddelke has focused on improving inventory availability, strengthening product assortment and sharpening the retailer's value proposition.
The company has been lowering prices and releasing fresher products on the shelves to compete with aggressive pricing strategies of rivals such as Walmart (WMT.O), opens new tab and Amazon (AMZN.O), opens new tab.
The efforts have shown early signs of success. In May, Target raised its annual sales-growth forecast for the first time in two years after posting stronger-than-expected quarterly results.
It, however, cautioned that a tough macroeconomic backdrop could continue to pressure demand.
DePinto's appointment also follows a shareholder vote last month rejecting a proposal that would have required the board's chair to be an independent director. The measure was prompted by Target's decision last year to move Cornell into the role of executive chair.
The retailer said DePinto will join its board on August 1 and serve on infrastructure and finance, and audit and risk committees.
Reporting by Koyena Das in Bengaluru; Editing by Maju Samuel
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PayPal odmítl společnou nabídku na odkup od Stripe a Advent International za 53,4 miliardy USD, protože ji označil za příliš nízkou. Akcie po oznámení rostly až o 19 % v předobchodní fázi a ten den uzavřely téměř o 16 % výše.
Since its founding in December 1998, PayPal NASDAQ: PYPL has grown alongside e-commerce into a financial services giant. Today, the company’s market cap exceeds $50 billion. But along the way, the stock has not been kind to investors.
Following its return to public trading in July 2015 after being spun off from eBay NASDAQ: EBAY, PayPal surged to its all-time high of $308.53 per share in July 2021. But it has been a difficult ride for shareholders, with PYPL down nearly 82% since then.
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PayPal Holdings, Inc. (PYPL) Price Chart for Wednesday, July, 22, 2026
But last week, long-term holders were treated to an unexpected catalyst: Stripe and private equity firm Advent International proposed a joint $53.4 billion acquisition of PayPal. Shares rose up as much as 19% in pre-market trading on July 15, finishing the day up nearly 16%.
In the days that followed, PayPal’s board declined the offer, stating that the bid was too low. Nonetheless, a deal could still materialize.
In the meantime, shares have continued to climb above their pre-bid level. Here’s what investors need to know about the digital payment platform’s future, and whether or not the stock’s recent turnaround can be sustained.
Details of the $53 Billion Bid PayPal Passed OnPayPal Today
$55.85 -0.97 (-1.71%)
As of 07/21/2026 04:00 PM Eastern
52-Week Range$38.46▼
$79.50Dividend Yield1.00%
P/E Ratio10.48
Price Target$54.61
Seeing a potentially mispriced company, the offer was priced at $60.50 per share—about 6.5% higher than the stock's July 20 closing price, and around 28% above its July 14 pre-announceemnt close.
Had the bid been accepted, at $53.4 billion, it would have been the largest fintech acquisition in history. Stripe and Advent reportedly planned to hold equal ownership stakes in PayPal rather than divide the company’s assets.
The move makes sense for privately-held Stripe, a financial infrastructure platform that provides global payment processing, subscription management, and fraud prevention services to businesses.
But that offer was not aimed at absorbing PayPal’s 439 million active consumer and merchant accounts around the world. According to Tech Times, the bid was aimed at securing PayPal’s “consumer-facing stablecoin distribution network and the peer-to-peer trust relationship those accounts represent.
PayPal’s Stablecoin Is the Ultimate PrizeLaunched on Aug. 7, 2023, PayPal’s native stablecoin—PayPal USD (PYUSD)—represents the next chapter in the company’s payment facilitation playbook.
Built on the Ethereum (ETH) and Solana (SOL) blockchains ,PYUSD is designed to remain worth $1 and is backed by cash and short-term U.S. government debt. Eligible PayPal users can currently earn a variable 4% annual reward by holding it in their accounts.
But more importantly, Visa NYSE: V added PYUSD to its stablecoin settlement platform, allowing participating issuers and acquirers to use the token for certain settlement transactions across Visa’s network. The integration could expand PYUSD’s role in cross-border and on-chain payments as Visa builds out its stablecoin infrastructure.
Visa Today
V
Visa
$355.94 -4.63 (-1.28%)
As of 07/21/2026 03:59 PM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$293.89▼
$365.14Dividend Yield0.75%
P/E Ratio31.00
Price Target$398.36
According to Visa’s 2025 annual report, the company reported 4.7 billion Visa-branded cards with total volume of $16.7 trillion last year.
Meanwhile, industry consultancy firm Grand View Research forecasts the global stablecoins segment of the decentralized finance market to grow to nearly $183 billion by 2033 from $3.3 billion in 2025—good for an almost comical compound annual growth rate of 69%.
As part of its expanded payment settlement rails, Visa’s decision to embrace the PYUSD stablecoin to allow partners to settle fiat currency-backed transactions directly on-chain is poised to be a massive windfall for PayPal.
At the same time, PayPal continues to expand PYUSD’s utility as a low-cost, near-instant payment and transfer mechanism within its digital wallet ecosystem on Venmo and PayPal.
Together with the $60.50 offering, this suggests that at current prices, shares of the San Jose, California-based firm could be dramatically undervalued.
Current Price$55.85High Forecast$100.00Average Forecast$54.61Low Forecast$32.00PayPal Stock Forecast Details
For now, Wall Street has yet to price in the stablecoin story.
Based on the 46 analysts who cover the stock, PayPal carries a consensus Hold rating and an average 12-month price target implies nearly 2% downside from current prices.
While that may be discounting the underlying price drivers PayPal is set to enjoy, it also overlooks solid fundamentals and sound management.
In Q1, revenue growth stood at 7.21%—a dramatic year-over-year increase from 1.2% in Q1 2025.
Similarly, after four consecutive quarters of free cash flow (FCF) contraction, PayPal posted back-to-back quarters of FCF in Q4 2025 and Q1 at nearly 354% and 155%, respectively.
Earnings per share (EPS) offers another clue. Despite their struggles, PayPal has beat on earnings in nine of the last 11 quarters, including seven of the last eight. In Q1, the company reported EPS of $1.34, topping the consensus estimate of $1.27, and with a trailing price-to-earnings ratio of 10.66, PayPal’s earnings are expected to grow 8.27% in the next year.
In the company's Q1 earnings call, PayPal’s new CEO Enrique Lores, who officially took on that role on March 1, reaffirmed the company’s focus on three lines of business: Checkout/PayPal, Consumer Financial Services/Venmo, and Payment Services/Crypto—the latter of which underscores the significance of PYUSD.
Management also expects at least $1.5 billion of gross run-rate savings over the next two to three years as broad AI and automation adoption drives down operating costs. Ultimately, these factors should continue to fuel a long-awaited rebound for the company, which next reports earnings on July 28.
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Philip Morris International potřetí letos snížila celoroční výhled upraveného zisku na akcii na 8,26 až 8,41 USD kvůli konkurenci a kurzovým vlivům. Tržby ve 2. čtvrtletí vzrostly o 10,4 % na 11,19 miliardy USD a překonaly odhady.
Packages of Marlboro cigarettes produced by Philip Morris International are seen at the grocery store in Warsaw, Poland May 29, 2024. REUTERS/Kacper Pempel Purchase Licensing Rights, opens new tab
CompaniesJuly 22 (Reuters) - Philip Morris International (PM.N), opens new tab cut its annual profit forecast for the third time this year on Wednesday, hurt by intensifying competition among tobacco products and negative currency swings.
Shares of the company were down 1% in premarket trading.
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The company also said it seeks to invest in its Zyn nicotine pouches following recent regulatory approval.
While U.S. regulators have recently taken a more favorable stance toward nicotine pouches, including allowing certain Zyn products to be marketed as less harmful than cigarettes, increased competition and pricing pressure have raised concerns about PMI's ability to maintain its market-leading position.
The company expects full-year adjusted earnings per share of $8.26 to $8.41, compared with its previous forecast of $8.31 to $8.46.
Philip Morris has been investing heavily to diversify beyond cigarettes, but faces mounting competition in the rapidly growing nicotine pouch category from products such as British American Tobacco's (BATS.L), opens new tab Velo.
The company launched Zyn Ultra, a higher-strength moist pouch variant, in June and priced it below PMI's flagship Zyn products on a per-pouch basis, as the company looks to defend market share.
Its second-quarter revenue rose 10.4% to $11.19 billion, exceeding analysts' estimate of $10.63 billion, according to data compiled by LSEG.
Reporting by Neil J Kanatt in Bengaluru and Emma Rumney in London; Editing by Devika Syamnath
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Texas Instruments má po skončení obchodování oznámit hospodářské výsledky za 2. čtvrtletí; analytici čekají EPS 1,92 USD a výnosy 5,24 mld. USD. Akcie v úterý vzrostly o 2,6 %.
Texas Instruments Incorporated (NASDAQ:TXN) will release its second quarter earnings report after the closing bell on Wednesday, July 22.
Analysts expect the Dallas, Texas-based company to report quarterly earnings of $1.92 per share, up from $1.41 per share in the year-ago period. The consensus estimate for Texas Instruments’ quarterly revenue is $5.24 billion. It reported $4.45 billion last year, according to Benzinga Pro.
On July 16, the company’s board of directors declared a quarterly cash dividend of $1.42 per share.
Texas Instruments shares rose 2.6% to close at $291.30 on Tuesday.
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.
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Prologis předložila Segro konečnou nabídku na převzetí za zhruba 14 miliard GBP, tedy 10,32 GBP za akcii. Akcie Segro po zprávě během dne vzrostly o více než 4 %.
View of the Prologis warehouse in Nieuwegein, Netherlands in this undated handout obtained by Reuters on November 30, 2020. Courtesy of Prologis/Handout via REUTERS/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesBest and final bid of £10.32 per Segro shareSeveral investors had called on companies to engage furtherSegro shares up more than 4%July 22 (Reuters) - U.S. warehousing giant Prologis (PLD.N), opens new tab on Wednesday made what it called its best and final proposal to buy British rival Segro (SGRO.L), opens new tab for about £14 billion ($18.8 billion), in a last-minute approach ahead of a takeover deadline as investors urged the pair to keep talking.
Shares in Segro rose more than 4% to £9.07 by 0936 GMT but remained below the new bid price of £10.32 per share.
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The offer comprises 0.0920 Prologis shares and a partial cash alternative of up to £3.5 billion, marking an improvement from the company's third proposal, which Segro rejected on Monday.
"The Best and Final Proposal is final and will not be increased," Prologis said in a statement, although it added that it could still choose to do so under some exceptional conditions.
Investors including APG Asset Management, Norges Bank and CCLA Investment Management urged the companies to engage in talks, saying a combination was valuable and merited consideration.
Prologis' latest proposal represents a roughly 45% premium to the group's closing price on June 23, the day before Prologis first went public with its interest.
"We met and engaged with Prologis over the weekend and have been clear that we would consider and engage again on a revised proposal," a Segro spokesperson said in a statement emailed to Reuters shortly before Prologis' improved bid was announced.
The British group did not immediately respond to a further request for comment on the latest offer.
($1 = 0.7478 pounds)
Reporting by Prerna Bedi, Pushkala Aripaka, Anushka Chourasia and Nithyashree R B in Bengaluru; Editing by Subhranshu Sahu, Kirsten Donovan
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Coinbase oznámila, že vyřešila spor se SEC na základě zákona FOIA kvůli chybějícím zprávám. SEC má zaplatit 150 000 USD a upravit své zásady uchovávání záznamů.
The Coinbase logo is seen in this illustration created on November 3, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
CompaniesJuly 22 (Reuters) - Coinbase (COIN.O), opens new tab has settled a Freedom of Information Act lawsuit against the U.S. Securities and Exchange Commission over records it sought from the agency, the cryptocurrency exchange's chief legal officer, Paul Grewal, said in a Wall Street Journal op-ed on Wednesday.
Grewal said the agency, which polices corporate record-keeping, had lost text messages between former Chair Gary Gensler and other officials after a process the SEC said "automatically wiped" certain data.
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As part of the settlement, the SEC will pay $150,000 and fix its record-retention policies, he wrote.
SEC did not immediately respond to a Reuters request for comment.
Coinbase sued the SEC and the Federal Deposit Insurance Corp. in 2024, seeking documents it said would show a concerted effort by U.S. regulators to stamp out crypto companies.
The lawsuit sought additional communications from senior SEC officials, including Gensler.
Coinbase has scored major wins from the SEC under U.S. President Donald Trump, including the dismissal of a major lawsuit the regulator brought against the company under President Joe Biden.
It also championed a stablecoin bill passed by the U.S. Congress.
Reuters has reported that the SEC is preparing more industry-friendly policies, including one that would allow crypto companies to offer blockchain-based stocks.
Reporting by Hannah Lang in New York and Utkarsh Shetti in Bengaluru; Editing by Tasim Zahid
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EU v nejbližších dnech pošle JD.com formální obvinění kvůli subvencím v rámci nabídky za 2,5 miliardy USD na Ceconomy. Může to vést k požadavku na výrazné ústupky nebo k vetu transakce.
Item 1 of 3 Employees work as parcels move along conveyor belts at the JD.com sorting center in Beijing, China, November 11, 2025. REUTERS/Maxim Shemetov/File Photo
[1/3]Employees work as parcels move along conveyor belts at the JD.com sorting center in Beijing, China, November 11, 2025. REUTERS/Maxim Shemetov/File Photo Purchase Licensing Rights, opens new tab
CompaniesBRUSSELS, July 22 (Reuters) - JD.com (9618.HK), opens new tab is set to be hit with formal subsidy charges over its $2.5 billion bid for German electronics retailer Ceconomy (CECG.DE), opens new tab, people familiar with the matter said, a move that could force the Chinese e-commerce giant to offer substantial remedies.
The charges, known as a statement of grounds under the Foreign Subsidies Regulation, are similar to a statement of objections or charge sheet under EU merger rules where regulators outline specific concerns, which must be addressed by companies or risk a veto on the deal.
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The charges, the first under the FSR, will be sent in the coming days and could come as early as Wednesday, one of the people said.
JD.com said the statement of grounds is a normal procedural step.
"We remain confident the transaction supports Europe's broader objectives around innovation and competitiveness. We continue to expect a positive conclusion of the process in the second half of 2026," the company said.
The European Commission, which polices unfair foreign state aid, declined to comment.
In May, it opened a full-scale investigation into the deal, warning that JD.com may be receiving preferential financing, tax incentives and grants from the Chinese government that may have helped the company offer a higher price for Ceconomy.
The acquisition will allow one of China's largest retailers to expand outside its home market via Ceconomy-owned electronic products retailers MediaMarkt and Saturn.
The EU charges will come after the July 1 introduction of a €3 customs duty on previously exempt low-value packages and ahead of a forthcoming handling fee as the European Union seeks to curb what it calls unfair competition from largely Chinese retailers such as Shein, Temu and AliExpress.
The number of e-commerce parcels arriving in the bloc has surged, reaching 5.8 billion in 2025 from 1.4 billion in 2022.
Reporting by Foo Yun Chee, additional reporting by Philip Blenkinsop; Editing by Joe Bavier and Louise Heavens
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An agenda-setting and market-moving journalist, Foo Yun Chee is a 21-year veteran at Reuters. Her stories on high profile mergers have pushed up the European telecoms index, lifted companies' shares and helped investors decide on their next move. Her knowledge and experience of European antitrust laws and developments helped her break stories on Microsoft, Google, Amazon, Meta and Apple, numerous market-moving mergers and antitrust investigations. She has previously reported on Greek politics and companies, when Greece's entry into the eurozone meant it punched above its weight on the international stage, as well as on Dutch corporate giants and the quirks of Dutch society and culture that never fail to charm readers.
Royalty Pharma koupila od Neurimmune podíl na licenčních výnosech z AstraZeneca cliramitugu až za 425 milionů USD, z toho 125 milionů USD předem. Léčba je ve fázi 3 a výsledky se čekají v roce 2028.
July 22, 2026 07:05 ET | Source: Royalty Pharma plc
NEW YORK, July 22, 2026 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced that it has acquired a portion of Neurimmune’s royalty interest in AstraZeneca’s cliramitug for up to $425 million, including $125 million upfront.
Cliramitug is a Phase 3 first-in-class TTR-fibril-depleting antibody designed to remove amyloid deposits in patients with TTR amyloidosis with cardiomyopathy (ATTR-CM), a progressive, degenerative and fatal disease caused by misfolded proteins that accumulate in the heart. Currently approved therapies for ATTR-CM slow disease progression by preventing ATTR accumulation but do not target amyloid already accumulated in the heart. Cliramitug is currently in the Phase 3 DepleTTR-CM trial with results expected in 2028i.
“We are excited to acquire a royalty interest in cliramitug,” said Pablo Legorreta, Chief Executive Officer and Chairman of the Board of Royalty Pharma. “Cliramitug combines a differentiated scientific approach with promising clinical data and addresses a rapidly growing market with significant unmet need. Cliramitug is our second recent investment in this indication and has the potential to transform the ATTR-CM disease course. This therapy further bolsters our development-stage pipeline, and we believe it will become a valuable contributor to our portfolio over the long term.”
“We are developing a novel class of therapeutics and are excited to enter into a partnership with Royalty Pharma related to our cardiac ATTR depleter, cliramitug,” said Roger M. Nitsch, President and Chief Executive Officer of Neurimmune. “Today’s transaction is providing funds to further advance our internal R&D pipeline while retaining the majority of our royalty and milestone interests in cliramitug.”
The ATTR-CM market grew over 40% in 2025 to greater than $7 billion in sales, driven by increasing diagnosis rates and new therapeutic options. AstraZeneca provided a peak sales target of between $3 billion and $5 billion for cliramitug at its May 2024 Investor Day.
Transaction terms
Under the terms of the agreement, Royalty Pharma will provide Neurimmune up to $425 million, including $125 million upfront, in exchange for a 3% to 4% royalty on worldwide net sales of cliramitug. In the first quarter of 2027, Royalty Pharma will provide another $125 million in cash to Neurimmune, with the remaining $175 million payable based on the achievement of certain clinical and regulatory milestones.
Advisors
Goodwin Procter and Maiwald acted as legal advisors to Royalty Pharma.
About Royalty Pharma plc
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, Servier’s Voranigo, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, and 20 development-stage product candidates. For more information, visit www.royaltypharma.com.
Kalifornský systém důchodového zabezpečení zaměstnanců veřejného sektoru (California Public Employees Retirement System) ve 1. čtvrtletí snížil podíl v Invitation Home o 10 % na 1 406 108 akcií v hodnotě 34,942 mil. USD.
California Public Employees Retirement System lessened its stake in shares of Invitation Home (NYSE:INVH – Free Report) by 10.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,406,108 shares of the company’s stock after selling 155,586 shares during the period. California Public Employees Retirement System owned 0.24% of Invitation Home worth $34,942,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL increased its stake in shares of Invitation Home by 570.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 130,998 shares of the company’s stock valued at $3,842,000 after purchasing an additional 111,461 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Invitation Home by 3.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,413,502 shares of the company’s stock worth $67,071,000 after buying an additional 74,029 shares during the period. SG Americas Securities LLC lifted its holdings in Invitation Home by 535.7% during the 4th quarter. SG Americas Securities LLC now owns 1,204,463 shares of the company’s stock worth $33,472,000 after buying an additional 1,014,984 shares during the period. Oak Thistle LLC grew its position in shares of Invitation Home by 1,538.3% in the 4th quarter. Oak Thistle LLC now owns 130,210 shares of the company’s stock valued at $3,619,000 after buying an additional 122,262 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Invitation Home in the 4th quarter valued at about $1,756,000. 96.79% of the stock is owned by institutional investors and hedge funds.
Invitation Home Price Performance Shares of INVH opened at $29.83 on Wednesday. The firm has a market cap of $17.72 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 3.53 and a beta of 0.84. Invitation Home has a 52-week low of $24.25 and a 52-week high of $32.67. The business’s 50 day moving average price is $29.47 and its two-hundred day moving average price is $27.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.02 and a current ratio of 0.02.
Invitation Home (NYSE:INVH – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. The company had revenue of $579.00 million during the quarter, compared to the consensus estimate of $689.91 million. Invitation Home had a net margin of 20.88% and a return on equity of 6.29%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. Invitation Home has set its FY 2026 guidance at 1.900-1.980 EPS. On average, equities analysts anticipate that Invitation Home will post 1.89 EPS for the current year.
Invitation Home Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Thursday, June 25th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, June 25th. Invitation Home’s dividend payout ratio (DPR) is 126.32%.
Analyst Upgrades and Downgrades Several research analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Invitation Home to a “hold” rating in a research report on Friday, June 26th. Scotiabank increased their price objective on shares of Invitation Home from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 18th. Cfra downgraded shares of Invitation Home from a “hold” rating to a “sell” rating and lowered their target price for the stock from $29.00 to $27.00 in a research note on Wednesday, May 27th. Raymond James Financial upgraded shares of Invitation Home from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a report on Monday, May 18th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Invitation Home from $28.00 to $29.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Invitation Home presently has an average rating of “Hold” and a consensus price target of $32.47.
Check Out Our Latest Stock Report on Invitation Home
Invitation Home Company Profile (Free Report)
Invitation Homes (NYSE: INVH) is a real estate investment trust that specializes in the ownership, operation and leasing of single-family rental homes across the United States. The company focuses on acquiring suburban and urban-adjacent single-family residences and managing them as rental properties for households seeking professionally managed, long-term housing alternatives to traditional homeownership or multifamily rentals.
Operationally, Invitation Homes is involved in the full lifecycle of the single-family rental business: sourcing and acquiring homes, performing renovations and ongoing maintenance, marketing and leasing properties, and providing property management and resident services.
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, /PRNewswire/ -- CME Group Inc. (NASDAQ: CME) today reported financial results for the second quarter of 2026.
The company reported revenue of $1.7 billion and operating income of $1.1 billion for the second quarter of 2026. Net income was $1.0 billion and diluted earnings per common share were $2.88. On an adjusted basis, operating income was $1.2 billion, net income was $1.1 billion and diluted earnings per common share were $2.99. Financial results presented on an adjusted basis for the second quarter of 2026 and 2025 exclude certain items, which are detailed in the reconciliation of non-GAAP results.1
"The first half of 2026 was the strongest in CME Group's history," said CME Group Chairman and Chief Executive Officer Terry Duffy. "We delivered record H1 performance across revenue, adjusted operating income, adjusted net income and adjusted earnings per share, all of which were powered by record trading in Q1 and our second-highest Q2 volumes ever. During Q2, market data revenue increased 20% to a record $238 million. Importantly, we provided more than $95 billion in daily margin efficiencies during the quarter, a new high that represents unparalleled capital savings that our clients can redeploy in their businesses. We also continue to innovate a number of new tools to help clients manage risk and pursue opportunities, including Single-Stock futures, 1-Ounce Gold contracts available 24/7, U.S. Treasury clearing and Compute futures."
Second-quarter 2026 average daily volume (ADV) was the third highest quarterly ADV reaching 29.8 million contracts, which included non-U.S. ADV of 9.1 million contracts.
Clearing and transaction fees revenue for second-quarter 2026 totaled $1.4 billion. The total average rate per contract was $0.678. Market data revenue totaled a record $238 million for second-quarter 2026.
1. A reconciliation of the non-GAAP financial results mentioned to the respective GAAP figures can be found within the Reconciliation of Adjusted Operating Income and Adjusted Net Income and Adjusted Earnings per Common Share charts at the end of the financial statements.
As of June 30, 2026, the company had $2.3 billion in cash (including $200 million deposited with Fixed Income Clearing Corporation, which is included in other current assets) and $3.4 billion of debt. The company paid dividends during the second quarter of approximately $468 million and repurchased $695 million in CME Group common shares.
CME Group will hold a Q&A conference call to discuss second-quarter 2026 results at 8:30 a.m. Eastern Time today. A live audio webcast of the Q&A call will be available on the Investor Relations section of CME Group's website at investor.cmegroup.com under Events & Presentations. An archived recording will be available for up to two months after the call.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.
Statements in this press release that are not historical facts are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. We want to caution you not to place undue reliance on any forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the factors that might affect our performance are increasing competition by foreign and domestic entities, including increased competition from new entrants into our markets and consolidation of existing entities; our ability to keep pace with rapid technological developments, including our ability to complete the development, implementation and maintenance of the enhanced functionality required by our customers while maintaining reliability and ensuring that such technology is not vulnerable to security risks; our ability to continue introducing innovative and competitive new products and services on a timely, cost-effective basis, including through our electronic trading capabilities, and derive revenues that are commensurate with our efforts and expectations, and our ability to maintain the competitiveness of our existing products and services; our ability to adjust our fixed costs and expenses if our revenues decline; our ability to manage variable costs associated with CME Group's transition to the Google Cloud, and minimize duplicative costs of maintaining both on-premise and Google Cloud environments during the transition; the resilience of our electronic platforms and the soundness of our business continuity and disaster recovery plans, including in the event of cyberattacks and cyberterrorism or as impacted by a failure of or disruption at one of our suppliers; our ability to maintain existing customers at substantially similar trading levels, develop strategic relationships and attract new customers; our ability to expand and globally offer our products and services; changes in regulations, including the impact of any changes in laws or government policies with respect to our products or services or our industry, such as any changes to regulations and policies that require increased financial and operational resources from us or our customers, as well as the impact of tariffs and tax policy changes, restrictions on our ability to offer CME Group products and services in specific geographies or to specific customers or limitations or changes in underlying/physical product flows across geographies; the costs associated with protecting our intellectual property rights and our ability to operate our business without violating the intellectual property rights of others; decreases in revenue from our market data as a result of decreased demand or changes to regulations in various jurisdictions; changes in our rate per contract due to shifts in the mix of the products traded, the trading venue and the mix of customers (whether the customer receives member or non-member fees or participates in one of our various incentive programs) and the impact of our tiered pricing structure; the ability of our credit and liquidity risk management practices to adequately protect us from the credit risks of clearing firms and other counterparties, and to satisfy the margin and liquidity requirements associated with the BrokerTec matched principal business; the ability of our compliance and risk management programs to effectively monitor and manage our risks, including our ability to prevent errors and misconduct and protect our infrastructure against security breaches and misappropriation of our intellectual property assets; our dependence on third-party providers and exposure to risk from third parties, including risks related to the performance, reliability and security of technology used by, or facilities provided by, our third-party providers and third-party providers that our clients and third-parties rely on; our reliance on third-party distribution partners, including independent software vendors, futures commission merchants, introducing brokers, broker-dealers, regulatory reporting and data distributors and platform operators, and other partners, for facilitating trading and for market data information, and potential impacts from changes in their business models and priorities; volatility in commodity, equity and fixed income prices, and price volatility of financial benchmarks and instruments such as interest rates, equity indices, fixed income instruments and foreign exchange rates; economic, social, political and market conditions, including new and existing geopolitical tensions or conflicts, the volatility of the capital and credit markets and the impact of economic conditions on the trading activity of our current and potential customers; our ability to accommodate increases in contract volume and market data and order transaction traffic across the entire trade cycle and the ability to implement enhancements meeting our regulatory obligations and customer needs without failure or degradation of the performance of our trading and clearing systems; our ability to execute our growth strategy and maintain our growth effectively; our ability to manage the risks, control the costs and achieve the synergies associated with our strategy for acquisitions, investments, alliances, strategic partnerships and joint ventures; variances in earnings on cash accounts and collateral that our clearing house holds; impact of CME Group pricing/fee level and structure and incentive changes; impact of aggregation services and internalization on trade flow and volumes; any negative financial impacts from changes to the terms of intellectual property and index rights; our ability to continue to generate funds and/or manage our indebtedness to allow us to continue to invest in our business; industry, channel partner and customer consolidation and/or concentration; decreases in trading and clearing activity; the imposition of a transaction tax or user fee on futures and options transactions and/or repeal of the 60/40 tax treatment of such transactions; increases in effective tax rates, borrowing costs, or changes in tax policy; our ability to maintain our brand and reputation; and the unfavorable resolution of material legal proceedings. For a detailed discussion and additional information concerning these and other factors that might affect our performance, see our other recent periodic filings, including our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the Securities and Exchange Commission ("SEC") on February 26, 2026, under the caption "Risk Factors".
CME Group Inc. and Subsidiaries
Consolidated Balance Sheets
(in millions)
June 30, 2026
December 31, 2025
ASSETS
Current Assets:
Cash and cash equivalents
$ 2,144.2
$ 4,416.9
Marketable securities
131.4
125.0
Accounts receivable, net of allowance
753.1
639.2
Other current assets (includes $4.4 and $6.5 in restricted cash)
491.7
522.1
Performance bonds and guaranty fund contributions
158,110.7
159,656.1
Total current assets
161,631.1
165,359.3
Property, net of accumulated depreciation and amortization
351.2
362.7
Intangible assets—trading products
17,175.3
17,175.3
Intangible assets—other, net
2,494.6
2,610.7
Goodwill
10,505.8
10,514.7
Other assets
2,518.6
2,401.5
Total Assets
$ 194,676.6
$ 198,424.2
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable
$ 68.0
$ 71.8
Other current liabilities
538.6
568.8
Performance bonds and guaranty fund contributions
158,110.7
159,656.1
Total current liabilities
158,717.3
160,296.7
Long-term debt
3,424.2
3,422.3
Deferred income tax liabilities, net
5,220.9
5,242.2
Other liabilities
793.8
734.8
Total Liabilities
168,156.2
169,696.0
Total CME Group Shareholders' Equity
26,520.4
28,728.2
Total Liabilities and Equity
$ 194,676.6
$ 198,424.2
CME Group Inc. and Subsidiaries
Consolidated Statements of Income
(dollars in millions, except per share amounts; shares in thousands)
Quarter Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Revenues
Clearing and transaction fees
$ 1,352.5
$ 1,388.0
$ 2,895.1
$ 2,725.3
Market data and information services
238.1
198.1
462.2
392.6
Other
115.6
105.9
229.0
216.4
Total Revenues
1,706.2
1,692.0
3,586.3
3,334.3
Expenses
Compensation and benefits
233.5
221.6
456.5
428.3
Technology
83.3
70.9
159.9
136.6
Professional fees and outside services
29.1
37.4
57.3
65.9
Amortization of purchased intangibles
56.0
56.1
112.1
111.3
Depreciation and amortization
28.2
27.3
55.4
54.6
Licensing and other fee agreements
109.1
96.2
215.9
192.8
Other
59.9
53.2
112.4
107.5
Total Expenses
599.1
562.7
1,169.5
1,097.0
Operating Income
1,107.1
1,129.3
2,416.8
2,237.3
Non-Operating Income (Expense)
Investment income
1,429.7
1,518.4
2,819.0
2,411.1
Interest and other borrowing costs
(43.6)
(44.0)
(87.2)
(85.7)
Equity in net earnings of unconsolidated subsidiaries
97.7
99.0
200.1
187.2
Other non-operating income (expense)
(1,263.2)
(1,372.4)
(2,510.1)
(2,174.8)
Total Non-Operating Income (Expense)
220.6
201.0
421.8
337.8
Income before Income Taxes
1,327.7
1,330.3
2,838.6
2,575.1
Income tax provision
285.9
305.2
642.5
593.8
Net Income
$ 1,041.8
$ 1,025.1
$ 2,196.1
$ 1,981.3
Net Income Attributable to Common Shareholders of
CME Group - Basic(1)
$ 1,041.8
$ 1,012.2
$ 2,200.4
$ 1,956.4
Net Income Attributable to Common Shareholders of
CME Group - Diluted(1)
$ 1,041.8
$ 1,012.2
$ 2,196.1
$ 1,956.4
Earnings per Share Attributable to Common
Shareholders of CME Group:
Basic
$ 2.89
$ 2.81
$ 6.11
$ 5.44
Diluted
2.88
2.81
6.06
5.43
Weighted Average Number of Common Shares:
Basic
360,684
359,658
360,005
359,636
Diluted(2)
361,282
360,355
362,233
360,297
1. The difference between Net Income and Net Income Attributable to Common Shareholders of CME Group - Basic and Diluted is the result of the distribution of earnings allocated to preferred shares.
2. Preferred shares of 4,584,000 were all converted to Class A Common stock on March 5, 2026 with their weighted-average impact included in the Diluted shares starting in the first quarter of 2026.
CME Group Inc. and Subsidiaries
Reconciliation of Adjusted Operating Income
(dollars in millions)
Quarter Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Total Revenues
$ 1,706.2
$ 1,692.0
$ 3,586.3
$ 3,334.3
Adjusted Total Revenues
$ 1,706.2
$ 1,692.0
$ 3,586.3
$ 3,334.3
Total Expenses
$ 599.1
$ 562.7
$ 1,169.5
$ 1,097.0
Restructuring and severance
(6.0)
(1.4)
(10.0)
(2.5)
Deferred compensation(1)
(12.4)
(7.7)
(11.6)
(5.5)
Amortization of purchased intangibles
(56.0)
(56.2)
(112.1)
(111.3)
Strategic transaction-related (costs) credits
(1.0)
(2.8)
(1.6)
(2.8)
Real estate-related (costs) credits
0.7
8.1
—
8.1
Foreign exchange transaction gains (losses)
(0.3)
(3.5)
0.6
(5.9)
Unrealized and realized gains (losses) on assets
—
(0.4)
—
(0.4)
Litigation matters or settlements
(2.9)
(7.6)
(1.9)
(10.9)
Adjusted Total Expenses
$ 521.2
$ 491.2
$ 1,032.9
$ 965.8
Operating Income
$ 1,107.1
$ 1,129.3
$ 2,416.8
$ 2,237.3
Adjusted Operating Income
$ 1,185.0
$ 1,200.8
$ 2,553.4
$ 2,368.5
1. Includes $12.4 million and $11.6 million for changes in our non-qualified deferred compensation liability in the second quarter and first six months of 2026. This impact does not affect net income and adjusted net income, because the compensation and benefits change has an equal and offsetting change in investment income.
CME Group Inc. and Subsidiaries
Reconciliation of Adjusted Net Income and Adjusted Earnings per Common Share
(dollars in millions, except per share amounts; shares in thousands)
Quarter Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Net Income
$ 1,041.8
$ 1,025.1
$ 2,196.1
$ 1,981.3
Restructuring and severance
6.0
1.4
10.0
2.5
Amortization of purchased intangibles(1)
60.0
69.4
120.1
137.6
Strategic transaction-related costs (credits)(2)
0.3
2.8
0.4
2.8
Real estate-related costs (credits)
(0.7)
(8.1)
—
(8.1)
Foreign exchange transaction (gains) losses
0.3
3.6
(0.6)
6.0
Unrealized and realized (gains) losses on investments
(3.9)
—
19.0
6.4
Unrealized and realized (gains) losses on assets
—
0.4
—
0.4
Litigation matters or settlements
2.9
7.6
1.9
10.9
Income tax effect related to above
(15.3)
(15.5)
(36.3)
(31.6)
Other income tax items(3)
(9.7)
(7.3)
(8.8)
(8.9)
Adjusted Net Income
$ 1,081.7
$ 1,079.4
$ 2,301.8
$ 2,099.3
Adjusted Net Income Attributable to Common
Shareholders of CME Group - Basic(4)
$ 1,081.7
$ 1,065.8
$ 2,305.6
$ 2,072.9
Adjusted Net Income Attributable to Common
Shareholders of CME Group - Diluted(4)
$ 1,081.7
$ 1,065.8
$ 2,301.8
$ 2,072.9
Earnings per Share Attributable to Common Shareholders of CME Group:
Basic
$ 2.89
$ 2.81
$ 6.11
$ 5.44
Diluted
2.88
2.81
6.06
5.43
Adjusted Earnings per Share Attributable to Common Shareholders of CME
Group:
Basic
$ 3.00
$ 2.96
$ 6.40
$ 5.76
Diluted
2.99
2.96
6.35
5.75
Weighted Average Number of Common Shares:
Basic
360,684
359,658
360,005
359,636
Diluted(5)
361,282
360,355
362,233
360,297
1. Includes $2.6 million and $5.2 million of amortization of purchased intangibles at S&P Dow Jones Indices LLC and $1.4 million and $2.8 million of amortization of purchased intangibles at FanDuel Prediction Markets Holdings LLC in the second quarter and first six months of 2026. This is reported in Equity in net earnings of unconsolidated subsidiaries on the Consolidated Statements of Income.
2. The values shown above may differ from what is shown in the Reconciliation of Adjusted Operating Income as that schedule does not include adjustment items or portions of items included in non-operating results.
3. Other income tax items in the second quarter of 2026 include benefits related to the resolution of certain state income tax examinations and adjustments to tax reserves and tax receivables.
4. The difference between Adjusted Net Income and Adjusted Net Income Attributable to Common Shareholders of CME Group - Basic and Diluted is the result of the distribution of earnings allocated to preferred shares.
5. Preferred shares of 4,584,000 were all converted to Class A Common stock on March 5, 2026 with their weighted-average impact included in the Diluted shares starting in the first quarter of 2026.
CME Group Inc. and Subsidiaries
Quarterly Operating Statistics
2Q 2025
3Q 2025
4Q 2025
1Q 2026
2Q 2026
Trading Days
62
64
64
61
62
Quarterly Average Daily Volume (ADV)(1)
CME Group ADV (in thousands)
Product Line
2Q 2025
3Q 2025
4Q 2025
1Q 2026
2Q 2026
Interest rates
15,472
13,378
13,010
18,674
14,532
Equity indexes
7,661
6,278
7,738
8,655
8,633
Foreign exchange
1,096
834
853
1,193
989
Energy
3,082
2,295
2,523
3,985
2,667
Agricultural commodities
1,964
1,712
1,787
2,042
2,080
Metals
943
825
1,441
1,682
941
Total
30,217
25,322
27,353
36,231
29,843
Venue
CME Globex
28,097
23,418
25,542
33,633
27,935
Open outcry
993
989
816
1,241
830
Privately negotiated
1,127
915
995
1,357
1,078
Total
30,217
25,322
27,353
36,231
29,843
Quarterly Average Rate Per Contract (RPC)(1)
CME Group RPC
Product Line
2Q 2025
3Q 2025
4Q 2025
1Q 2026
2Q 2026
Interest rates
$ 0.481
$ 0.487
$ 0.486
$ 0.457
$ 0.480
Equity indexes
0.635
0.652
0.611
0.597
0.605
Foreign exchange
0.772
0.841
0.847
0.780
0.813
Energy
1.138
1.214
1.245
1.084
1.131
Agricultural commodities
1.435
1.423
1.427
1.344
1.426
Metals
1.456
1.505
1.295
1.153
1.315
Average RPC
$ 0.690
$ 0.702
$ 0.707
$ 0.652
$ 0.678
1. ADV and RPC includes futures and options on futures only.
AT&T ve 2Q překonal odhady díky 432 000 čistým přírůstkům postpaid zákazníků, vyššímu očištěnému EPS i očištěné EBITDA. Firma potvrdila celoroční výhled pro rok 2026.
Americký telekomunikační operátor AT&T zveřejnil hospodářské výsledky za druhé čtvrtletí roku 2026. Čistý přírůstek postpaid mobilních zákazníků překonal průměrný odhad analytiků. Nad očekáváním byly rovněž očištěný zisk na akcii a očištěná EBITDA.
Výsledky společnosti AT&T (T) za 2Q 2026 2Q 2026 Konsensus 2Q 2026 2Q 2025 Výnosy (mld. USD) 31,56 31,77 30,85 Čistý zisk (mld. USD) 4,59 -- 4,46 Očištěný zisk na akcii (EPS, USD/akcie) 0,65 0,59 0,54 Výsledky za 2Q Výnosy meziročně vzrostly o 2,6 % na 31,56 mld. USD.
Čistý přírůstek postpaid mobilních zákazníků dosáhl 432 000, nad odhadem 325 264. Míra odchodovosti (churn) u postpaid zákazníků s pouze mobilním tarifem činila 0,86 %.
Očištěná EBITDA vzrostla meziročně o 5,1 % na 12,3 mld. USD, nad odhadem 12,1 mld. USD.
Volný hotovostní tok dosáhl 4,7 mld. USD.
Výhled na FY 2026 Firma potvrzuje celoroční výhled pro rok 2026:
Volný hotovostní tok alespoň 18 mld. USD (konsensus: 18,17 mld. USD). Očištěný zisk na akcii 2,25–2,35 USD (konsensus: 2,32 USD). Růst očištěné EBITDA o 3 % až 4 %. Komentář vedení John Stankey, předseda představenstva a generální ředitel AT&T, uvedl: „Zrychlený růst, kterého jsme dosáhli v tomto čtvrtletí, ukazuje naše strukturální výhody vést další éru konektivity. Zrychlujeme tempo plánovaných zpětných odkupů akcií na letošní rok na přibližně 10 mld. USD, což odráží naši důvěru v naši tržní pozici. Díky vedoucímu postavení ve vláknové optice – nejlepší dostupné konektivní technologii – věříme, že náš výkon sítě a provozní rozsah nemají konkurenci.“
Návrat kapitálu akcionářům Společnost za čtvrtletí vrátila akcionářům 4,1 mld. USD, z toho přibližně 2,2 mld. USD formou zpětného odkupu akcií v rámci programu z roku 2024.
Návrat kapitálu akcionářům, zdroj: AT&T
Akcie AT&T Akcie AT&T (T) v předburzovní fázi obchodování rostou o 3,23 % na 22,98 USD.
Akcie AT&T Inc (T) před výsledky uzavřely na 22,26 USD Ukazatel Ukazatel Kapitalizace (mld. USD) 154,7 P/E 12,4 Vývoj za letošní rok (%) -10,4 Očekávané P/E 9,6 52týdenní minimum (USD) 19,9 Prům. cílová cena (USD) 29,2 52týdenní maximum (USD) 29,8 Dividendový výnos (%) 5,0 Zdroj: AT&T, Bloomberg
Woodward (NASDAQ:WWD – Get Free Report) is expected to be posting its Q3 2026 results after the market closes on Wednesday, July 29th. Analysts expect Woodward to announce earnings of $2.44 per share and revenue of $1.1104 billion for the quarter. Woodward has set its FY 2026 guidance at 9.150-9.450 EPS. Investors may review the information on the company’s upcoming Q3 2026 earning results page for the latest details on the call scheduled for Wednesday, July 29, 2026 at 5:00 PM ET.
Woodward (NASDAQ:WWD – Get Free Report) last released its earnings results on Wednesday, April 29th. The technology company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.10 by $0.17. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Woodward had a return on equity of 20.12% and a net margin of 12.85%.The business’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period last year, the firm earned $1.69 EPS. On average, analysts expect Woodward to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.
Woodward Stock Up 4.1% NASDAQ WWD opened at $406.87 on Wednesday. The stock has a market capitalization of $24.24 billion, a P/E ratio of 48.73, a price-to-earnings-growth ratio of 2.33 and a beta of 0.86. Woodward has a 52 week low of $233.31 and a 52 week high of $450.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.19 and a current ratio of 1.73. The stock has a fifty day moving average of $389.09 and a 200-day moving average of $373.25.
Woodward Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a $0.32 dividend. The ex-dividend date is Thursday, August 20th. This represents a $1.28 annualized dividend and a yield of 0.3%. Woodward’s dividend payout ratio (DPR) is currently 15.33%.
Insiders Place Their Bets In other Woodward news, Director Daniel G. Korte sold 14,700 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $356.05, for a total transaction of $5,233,935.00. Following the transaction, the director owned 4,434 shares in the company, valued at approximately $1,578,725.70. This trade represents a 76.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karrie M. Bem sold 185 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $355.00, for a total value of $65,675.00. Following the transaction, the executive vice president owned 3,648 shares of the company’s stock, valued at $1,295,040. The trade was a 4.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 15,629 shares of company stock valued at $5,570,005. 0.71% of the stock is owned by insiders.
Institutional Inflows and Outflows Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its holdings in Woodward by 122.0% during the third quarter. Invesco Ltd. now owns 905,578 shares of the technology company’s stock valued at $228,849,000 after purchasing an additional 497,722 shares during the period. Findlay Park Partners LLP raised its holdings in Woodward by 136.2% in the fourth quarter. Findlay Park Partners LLP now owns 686,200 shares of the technology company’s stock worth $207,452,000 after purchasing an additional 395,726 shares during the period. Two Sigma Investments LP raised its holdings in Woodward by 1,086.9% in the third quarter. Two Sigma Investments LP now owns 330,514 shares of the technology company’s stock worth $83,524,000 after purchasing an additional 302,666 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Woodward during the fourth quarter worth $65,918,000. Finally, Soros Fund Management LLC bought a new position in shares of Woodward during the fourth quarter worth $54,798,000. Institutional investors own 81.18% of the company’s stock.
Analyst Ratings Changes A number of analysts recently commented on WWD shares. Truist Financial lifted their price objective on Woodward from $404.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings restated a “buy (b)” rating on shares of Woodward in a research report on Friday. Susquehanna initiated coverage on shares of Woodward in a research note on Tuesday, May 26th. They issued a “positive” rating and a $423.00 target price on the stock. UBS Group lifted their price target on shares of Woodward from $427.00 to $429.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada started coverage on shares of Woodward in a research note on Thursday, April 16th. They set an “outperform” rating and a $450.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Woodward currently has an average rating of “Moderate Buy” and an average price target of $395.50.
View Our Latest Stock Report on WWD
About Woodward (Get Free Report)
Woodward, Inc (NASDAQ: WWD) is a global leader in the design, manufacture and service of control systems and components for the aerospace and industrial markets. Founded in 1870 and headquartered in Fort Collins, Colorado, the company specializes in motion control, fuel systems, actuation, and digital control solutions. Its offerings enable precision management of flow, pressure and motion in critical applications ranging from aircraft engines and power turbines to hydraulic systems.
Woodward’s product portfolio is organized into two primary segments: Aerospace and Industrial.
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Wrap Technologies byla povýšena na Buy po regulačním vyjasnění a spuštění platformy WrapShield pro obranu proti dronům. Management zároveň cílí na zdvojnásobení tržeb ve fiskálním roce 2026.
SummaryWrap Technologies is upgraded to Buy following regulatory clarity and a transformative counter-UAS platform launch.ATF's reclassification of BolaWrap removes a major procurement hurdle, unlocking potential for broader law enforcement adoption and accelerating sales cycles.Exclusive rights to Frenel’s thermal-polarimetric tech enable WRAP to enter the high-growth defense and counter-drone markets with WrapShield.Management guides for 100% FY26 revenue growth; sustained operating leverage and proven WrapShield margins are key to long-term profitability. halbergman/E+ via Getty Images
I initiated coverage on Wrap Technologies, Inc. (WRAP) in late 2023 with a Hold rating. At the time, I recognized the company's public safety and non-lethal restraint solutions and its flagship product, the BolaWrap, but
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of WRAP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Otis delivers organic Service sales growth of 9% matching the highest level since spin with strong double-digit growth in modernization and repair and accelerating maintenance trends
Second quarter 2026
Net sales up 7% and organic sales up 6%, driven by Service net sales up 11% with organic sales up 9%, and New Equipment net sales flat with organic sales down (1)%, improving sequentially GAAP operating profit up $28 million and adjusted operating profit down $25 million Modernization orders up 9% at constant currency, backlog up 24%, 26% at constant currency Operating cash flow of $267 million; adjusted free cash flow of $290 million Share repurchases of approximately $400 million First half 2026
Net sales up 7% and organic sales up 4%, driven by Service net sales up 11% with organic sales up 7% GAAP operating profit up $156 million and adjusted operating profit down $35 million Operating cash flow of $680 million; adjusted free cash flow of $562 million Share repurchases of approximately $800 million , /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) reported second quarter 2026 net sales of $3.9 billion with organic sales up 6% versus the prior year. GAAP earnings per share (EPS) increased 13% to $1.12 and adjusted EPS decreased 4% to $1.01.
"Otis delivered a solid quarter, with net sales up 7%, supported by growth across all Service lines and sequential improvement in New Equipment trends. Our strategy, actions and investments in Service quality are gaining traction as evidenced by double-digit growth in both modernization and repair sales with maintenance growth also accelerating, contributing to Service sales growth that matched the highest level achieved since spin," said Chair, CEO & President Judy Marks. "Strong backlog in both modernization and New Equipment provides good visibility and supports our expectation for continued growth in the quarters ahead. We remain confident in the long-term growth opportunities across our Service portfolio. An aging installed base and our customers' increasing focus on reliability, uptime and Service quality are driving favorable demand in both modernization and repair, contributing to drive sustained growth and value creation."
Judy Marks continued, "As we look to the second half of the year and take a measured approach to our outlook, we remain confident in the durability of our Service-led growth model. We are continuing to invest in our strategic priorities including Service quality, pricing initiatives, and the application of digital technology with a focus on front-line operating excellence and strong execution across the globe. This Service-driven strategy reinforces our conviction in the long-term growth potential of the business and our ability to deliver sustainable value creation for shareholders over time."
Key Figures
Quarter Ended June 30,
Six Months Ended June 30,
(dollars in millions, except per share
amounts)
2026
2025
Y/Y
Y/Y
(CFX)
2026
2025
Y/Y
Y/Y
(CFX)
Net sales
$ 3,859
$ 3,595
7 %
6 %
$ 7,425
$ 6,945
7 %
4 %
Organic sales growth
6 %
4 %
GAAP
Operating profit
$ 575
$ 547
$ 28
$ 1,114
$ 958
$ 156
Operating profit margin
14.9 %
15.2 %
(30) bps
15.0 %
13.8 %
120 bps
Net income
$ 428
$ 393
9 %
$ 768
$ 636
21 %
Earnings per share
$ 1.12
$ 0.99
13 %
$ 1.99
$ 1.60
24 %
Adjusted non-GAAP comparison
Operating profit
$ 587
$ 612
$ (25)
$ (32)
$ 1,137
$ 1,172
$ (35)
$ (70)
Operating profit margin
15.2 %
17.0 %
(180) bps
15.3 %
16.9 %
(160) bps
Net income
$ 389
$ 416
(6) %
$ 736
$ 784
(6) %
Earnings per share
$ 1.01
$ 1.05
(4) %
$ 1.90
$ 1.97
(4) %
Second quarter net sales of $3.9 billion, increased 7% versus the prior year, driven by Service sales with growth in all lines of business.
Second quarter GAAP operating profit of $575 million increased $28 million driven primarily by the absence of UpLift transformation costs, separation-related adjustments, and other non-recurring items in the prior year. Adjusted operating profit of $587 million decreased $25 million at actual currency and $32 million at constant currency, driven by growth in Service more than offset by a decline in New Equipment and other corporate adjustments. GAAP operating profit margin contracted 30 basis points to 14.9% and adjusted operating profit margin of 15.2% declined 180 basis points versus the prior year driven by unfavorable segment performance and other corporate adjustments, partially offset by segment mix. The performance was impacted by ongoing investment in key Service growth initiatives, which were expanded this year to capitalize on strong repair and modernization demand, enhance Service excellence, and build long-term pricing capabilities.
GAAP EPS of $1.12 increased 13% compared to the prior year primarily driven by the absence of UpLift transformation costs, separation-related adjustments, and other non-recurring items in the prior year. Adjusted EPS of $1.01 decreased 4% driven by operational performance, higher interest, and higher tax rate, partially offset by favorable foreign exchange rates, a lower share count, and lower noncontrolling interest.
Service
Quarter Ended June 30,
Six Months Ended June 30,
(dollars in millions)
2026
2025
Y/Y
Y/Y
(CFX)
2026
2025
Y/Y
Y/Y
(CFX)
Net sales
$ 2,580
$ 2,319
11 %
10 %
$ 4,997
$ 4,506
11 %
8 %
Organic sales
9 %
7 %
Segment operating profit
$ 599
$ 578
$ 21
$ 16
$ 1,155
$ 1,115
$ 40
$ 6
Segment operating profit margin
23.2 %
24.9 %
(170) bps
23.1 %
24.7 %
(160) bps
In the second quarter, net sales of $2.6 billion increased 11%, with a 9% increase in organic sales. Organic maintenance and repair sales increased 6% and organic modernization sales increased 24%.
Segment operating profit of $599 million increased $21 million at actual currency and increased $16 million at constant currency as higher volume and favorable pricing more than offset higher labor cost including the impact of ongoing strategic initiatives and productivity, material cost headwinds and unfavorable mix. Segment operating profit margin contracted 170 basis points to 23.2%.
New Equipment
Quarter Ended June 30,
Six Months Ended June 30,
(dollars in millions)
2026
2025
Y/Y
Y/Y
(CFX)
2026
2025
Y/Y
Y/Y
(CFX)
Net sales
$ 1,279
$ 1,276
0 %
(1) %
$ 2,428
$ 2,439
(0) %
(3) %
Organic sales
(1) %
(3) %
Segment operating profit
$ 40
$ 68
$ (28)
$ (30)
$ 78
$ 134
$ (56)
$ (57)
Segment operating profit margin
3.1 %
5.3 %
(220) bps
3.2 %
5.5 %
(230) bps
In the second quarter, net sales of $1.3 billion were flat versus the prior year, with approximately 10% organic sales growth in the Americas, and low single digit growth in Asia Pacific, offset by a high teens decline in China, and a mid-single digit decline in EMEA.
Segment operating profit of $40 million decreased $28 million at actual currency and $30 million at constant currency primarily from the impacts of lower volume, unfavorable price, and mix. Segment operating profit margin contracted 220 basis points to 3.1%.
New Equipment orders were down 5% at constant currency with low teens growth in the Americas, and a low single digit growth in EMEA, more than offset by a greater than 20% decline in Asia Pacific, and a high teens decline in China. New Equipment backlog increased 3% at actual currency and 4% at constant currency.
Cash flow
Quarter Ended June 30,
Six Months Ended June 30,
(dollars in millions)
2026
2025
Y/Y
2026
2025
Y/Y
Cash flow from operations
$ 267
$ 215
$ 52
$ 680
$ 405
$ 275
Free cash flow
$ 223
$ 179
$ 44
$ 603
$ 335
$ 268
Adjusted free cash flow
$ 290
$ 243
$ 47
$ 562
$ 429
$ 133
Second quarter cash flow changes were driven by an increase in net income and changes in working capital.
2026 Outlook1
Otis is revising our full year outlook:
Net sales of $15.1 to $15.3 billion Organic sales up low to mid-single digits Organic New Equipment sales down low single digits to flat Organic Service sales up mid to high single digits Adjusted operating profit of approximately $2.4 billion, down $45 to $15 million at constant currency; down $30 million to flat at actual currency Adjusted EPS of $4.01 to $4.05 Adjusted free cash flow of $1.50 to 1.55 billion 1 Note: When we provide outlook for organic sales, adjusted operating profit, adjusted EPS, adjusted effective tax rate and adjusted free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures generally is not available without unreasonable effort. See "Use and Definitions of Non-GAAP Financial Measures" below for additional information.
About Otis
Otis is the world's leading elevator and escalator manufacturing, installation, service and modernization company. We move 2.5 billion people a day and maintain approximately 2.5 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 45,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories worldwide. For more information, visit www.otis.com and follow us on LinkedIn, YouTube, Instagram and Facebook @OtisElevatorCo.
Use and Definitions of Non-GAAP Financial Measures
Otis Worldwide Corporation ("Otis") reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides investors with additional useful information, but should not be considered in isolation or as substitutes for the related GAAP measures. Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. A reconciliation of the non-GAAP measures (referenced in this press release) to the corresponding amounts prepared in accordance with GAAP appears in the attached tables. These tables provide additional information as to the items and amounts that have been excluded from the adjusted measures. Below are our non-GAAP financial measures:
Non-GAAP measure
Definition
Organic sales
Represents consolidated net sales (a GAAP measure), excluding the impact of foreign currency translation, acquisitions and divestitures completed in the preceding twelve months and other significant items of a non-recurring and/or nonoperational nature ("other significant items"). Management believes organic sales is a useful measure in providing period-to-period comparisons of the results of the Company's ongoing operational performance.
Adjusted selling, general and administrative ("SG&A") expense
Represents SG&A expense (a GAAP measure), excluding restructuring costs and other significant items.
Adjusted operating profit
Represents income from continuing operations (a GAAP measure), excluding restructuring costs and other significant items.
Adjusted net interest expense
Represents net interest expense (a GAAP measure), adjusted for the impacts of non-recurring acquisition related financing costs and related net interest expense pending the completion of a transaction and other significant items.
Adjusted noncontrolling interest in earnings
Represents noncontrolling interest in earnings (a GAAP measure), excluding restructuring costs and other significant items, including related tax effects.
Adjusted net income
Represents net income attributable to Otis Worldwide Corporation (a GAAP measure), excluding restructuring costs and other significant items, including related tax effects.
Adjusted earnings per share ("EPS")
Represents diluted earnings per share attributable to common shareholders (a GAAP measure), adjusted for the per share impact of restructuring and other significant items, including related tax effects.
Adjusted effective tax rate
Represents the effective tax rate (a GAAP measure) adjusted for other significant items and the tax impact of restructuring costs and other significant items.
Constant currency
GAAP financial results include the impact of changes in foreign currency exchange rates ("AFX"). We use the non-GAAP measure "at constant currency" or "CFX" to show changes in our financial results without giving effect to period-to-period currency fluctuations. Under U.S. GAAP, income statement results are translated in U.S. dollars at the average exchange rate for the period presented. Management believes that this non-GAAP measure is useful in providing period-to-period comparisons of the results of the Company's ongoing operational performance.
Free cash flow
Represents cash flow from operations (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing Otis' ability to fund its activities, including the financing of acquisitions, debt service, repurchases of common stock and distribution of earnings to shareholders. Free cash flow should not be considered an alternative to, or more meaningful than, net cash flows provided by operating activities, or any other measure of liquidity presented in accordance with GAAP.
Adjusted free cash flow
Represents cash flow from operations (a GAAP measure) less capital expenditures, adjusted to exclude certain items management believes affect the comparability of operating results. Management believes adjusted free cash flow is a useful measure of liquidity that provides investors additional information regarding the Company's ability to fund its activities, including the financing of acquisitions, debt service, repurchases of common stock and distribution of earnings to shareholders. Adjusted free cash flow should not be considered an alternative to, or more meaningful than, net cash flows provided by operating activities, or any other measure of liquidity presented in accordance with GAAP.
Management believes that organic sales, adjusted SG&A expense, adjusted operating profit, adjusted net interest expense, adjusted noncontrolling interest in earnings, adjusted net income, adjusted EPS and the adjusted effective tax rate are useful measures in providing period-to-period comparisons of the results of the Company's ongoing operational performance.
When we provide our expectations for adjusted net sales, organic sales, adjusted operating profit, adjusted net interest expense, adjusted noncontrolling interest in earnings, adjusted net income, adjusted effective tax rate, adjusted EPS, free cash flow and adjusted free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures (expected diluted EPS from continuing operations, operating profit, the effective tax rate, net sales and expected cash flow from operations) generally is not available without unreasonable effort due to potentially high variability, complexity and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.
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. From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide management's current expectations or plans for Otis' 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," "medium-term," "near-term," "confident," "goals" 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 future sales, earnings, cash flow, results of operations, uses of cash, dividends, share repurchases, tax rates, research & development spend, restructuring or transformation actions (including UpLift and related reorganization and outsourcing activities and such actions with respect to our business in China), credit ratings, net indebtedness and other measures of financial performance or potential future plans, strategies or transactions, or statements that relate to climate change and our intent to achieve certain sustainability targets or other corporate responsibility initiatives, including operational impacts and costs associated therewith, 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 those statements, Otis claims the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which Otis and its businesses operate and any changes therein, including financial market conditions, fluctuations in commodity prices and other inflationary pressures, interest rates and foreign currency exchange rates, levels of end market demand in construction, pandemic health issues, natural disasters, whether as a result of climate change or otherwise, and the financial condition of Otis' customers and suppliers; (2) the effect of changes in political conditions in the U.S. and in other countries in which Otis and its businesses operate, including tensions between the U.S. and China and geopolitical conflicts, including the ongoing conflicts and instability in the Middle East and the conflict between Russia and Ukraine on general market conditions, commodity costs, global trade policies and related sanctions, export controls and tariffs, and currency exchange rates in the near term and beyond; (3) challenges in the development, production, delivery, support, employee adoption, performance and realization of the anticipated benefits of advanced technologies and new products and services; (4) future levels of indebtedness, capital spending and research and development spending; (5) future availability of credit and factors that may affect such availability or costs thereof, including credit market conditions and Otis' capital structure; (6) the timing and scope of future repurchases of Otis' common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash; (7) fluctuations in prices and delays and disruptions in delivery of materials and services from suppliers, whether as a result of changes in general economic conditions, geopolitical conflicts or otherwise; (8) cost reduction or containment actions, restructuring or transformation costs and related savings and other consequences thereof, including with respect to UpLift and our China business and related impacts of reorganization, change management and outsourcing activities, as applicable; (9) new business and investment opportunities and the realization of anticipated benefits, including meeting customer expectations and maintaining our competitiveness; (10) the outcome of legal proceedings, investigations and other contingencies; (11) pension plan assumptions and future contributions; (12) the impact of the negotiation of collective bargaining agreements and labor disputes, labor actions, including strikes or work stoppages, and labor inflation in the markets in which Otis and its businesses operate globally; (13) the effect of changes in laws, regulations and enforcement priorities in the U.S. and other countries in which Otis and its businesses operate; (14) the ability of Otis to retain and hire key personnel; (15) the scope, nature, impact or timing of acquisition and divestiture activity, the integration of acquired businesses into existing businesses and realization of synergies and opportunities for growth and innovation and incurrence of related costs; (16) the determination by the Internal Revenue Service (the "IRS") and other tax authorities that the distribution or certain related transactions should be treated as taxable transactions in connection with the separation (the "Separation") of Otis and Carrier Global Corporation ("Carrier") from United Technologies Corporation (now known as RTX Corporation ("RTX"); and (17) our obligations and disputes that have or may hereafter arise under the agreements we entered into with RTX and Carrier in connection with the Separation. The above list of factors is not exhaustive or necessarily in order of importance. For additional information on identifying factors that may cause actual results to vary from those stated in forward-looking statements, see Otis' registration statement on Form 10 and the reports of Otis on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Otis 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.
Otis Worldwide Corporation
Condensed Consolidated Statements of Operations
Quarter Ended June 30,
Six Months Ended June 30,
(Unaudited)
(Unaudited)
(dollars in millions, except per share amounts; shares in millions)
2026
2025
2026
2025
Net Sales
$ 3,859
$ 3,595
$ 7,425
$ 6,945
Costs and Expenses:
Cost of products and services sold
2,723
2,506
5,207
4,855
Research and development
39
38
77
75
Selling, general and administrative
520
499
1,030
963
Total Costs and Expenses
3,282
3,043
6,314
5,893
Other income (expense), net
(2)
(5)
3
(94)
Operating profit
575
547
1,114
958
Non-service pension cost (benefit)
2
—
2
—
Interest expense (income), net
26
26
85
71
Net income before income taxes
547
521
1,027
887
Income tax expense (benefit)
98
98
225
208
Net income
449
423
802
679
Less: Noncontrolling interest in subsidiaries' earnings
21
30
34
43
Net income attributable to Otis Worldwide Corporation
$ 428
$ 393
$ 768
$ 636
Earnings Per Share of Common Stock:
Basic
$ 1.12
$ 1.00
$ 1.99
$ 1.61
Diluted
$ 1.12
$ 0.99
$ 1.99
$ 1.60
Weighted Average Number of Shares Outstanding:
Basic shares
382.6
393.7
385.2
395.1
Diluted Shares
383.5
395.8
386.4
397.3
Otis Worldwide Corporation
Reconciliation of Reported (GAAP) to Adjusted Operating Profit & Operating Profit Margin
Quarter Ended June 30,
Six Months Ended June 30,
(Unaudited)
(Unaudited)
(dollars in millions)
2026
2025
2026
2025
Net Sales
New Equipment
$ 1,279
$ 1,276
$ 2,428
$ 2,439
Service
2,580
2,319
4,997
4,506
Total Net Sales
$ 3,859
$ 3,595
$ 7,425
$ 6,945
Operating Profit
New Equipment
$ 40
$ 68
$ 78
$ 134
Service
599
578
1,155
1,115
Total segment operating profit
639
646
1,233
1,249
Corporate and Unallocated
(64)
(99)
(119)
(291)
Total Otis GAAP Operating Profit
575
547
1,114
958
UpLift restructuring
—
25
—
45
Other restructuring
11
12
18
35
UpLift transformation costs
—
18
—
41
Separation-related adjustments 1
—
9
5
61
Litigation-related settlement costs 2
—
—
—
21
Held for sale impairment
—
—
—
10
Other, net
1
1
—
1
Total Otis Adjusted Operating Profit
$ 587
$ 612
$ 1,137
$ 1,172
Reported Total Operating Profit Margin
14.9 %
15.2 %
15.0 %
13.8 %
Adjusted Total Operating Profit Margin
15.2 %
17.0 %
15.3 %
16.9 %
1 Separation-related adjustments in the quarters and six months ended June 30, 2026 and 2025 represent estimated amounts
due to RTX Corporation (our former parent) in accordance with the Tax Matters Agreement, including those amounts related
to a favorable ruling received in August 2024 regarding a tax litigation in Germany.
2 Litigation-related settlement costs in the six months ended June 30, 2025 represent the aggregate amount of settlement costs
and increase in loss contingency accruals, excluding legal costs, for certain legal matters that are outside of the ordinary
course of business due to the size, complexity and/or unique facts of these matters.
Otis Worldwide Corporation
Reconciliation of Reported (GAAP) to Adjusted (Non-GAAP) Net Income, Earnings Per Share, and Effective Tax Rate
Quarter Ended June 30,
Six Months Ended June 30,
(Unaudited)
(Unaudited)
(dollars in millions, except per share amounts)
2026
2025
2026
2025
Adjusted Operating Profit
$ 587
$ 612
$ 1,137
$ 1,172
Non-service pension cost (benefit)
2
—
2
—
Adjusted net interest expense 1, 2
68
57
127
103
Adjusted income from operations before income taxes
517
555
1,008
1,069
Income tax expense (benefit)
98
98
225
208
Tax impact on restructuring and non-recurring items
—
11
4
32
Non-recurring tax items 2
20
12
20
12
Adjusted net income from operations
399
434
759
817
Adjusted noncontrolling interest 2, 3
10
18
23
33
Adjusted net income attributable to common
shareholders
$ 389
$ 416
$ 736
$ 784
GAAP net income attributable to common shareholders
$ 428
$ 393
$ 768
$ 636
UpLift restructuring
—
25
—
45
Other restructuring
11
12
18
35
UpLift transformation costs
—
18
—
41
Separation-related adjustments
—
9
5
61
Litigation-related settlement costs
—
—
—
21
Held for sale impairment
—
—
—
10
Interest income related to non-recurring tax items 1, 2
(31)
(15)
(31)
(16)
Tax effects of restructuring, non-recurring items and other
adjustments
—
(11)
(4)
(32)
Non-recurring tax items 2
(20)
(12)
(20)
(12)
Other, net 3
1
(3)
—
(5)
Adjusted net income attributable to common
shareholders
$ 389
$ 416
$ 736
$ 784
Diluted Earnings Per Share
$ 1.12
$ 0.99
$ 1.99
$ 1.60
Impact to diluted earnings per share
(0.11)
0.06
(0.09)
0.37
Adjusted Diluted Earnings Per Share
$ 1.01
$ 1.05
$ 1.90
$ 1.97
Effective Tax Rate
17.9 %
18.8 %
21.9 %
23.4 %
Impact of adjustments on effective tax rate
4.9 %
3.0 %
2.8 %
0.2 %
Adjusted Effective Tax Rate
22.8 %
21.8 %
24.7 %
23.6 %
1 In August 2024, we received a favorable ruling regarding a tax litigation in Germany. As a result, income tax benefits and
related interest income were recorded in 2024. Net interest expense is reflected as adjusted without $7 million of interest
income for the quarter and six months ended June 30, 2026, compared to $1 million and $2 million for the same periods in
2025.
2 Certain tax reserves were adjusted in the second quarter of 2026 and 2025. As a result, Net interest expense and
Noncontrolling interest are reflected as adjusted without $35 million of interest income and $11 million of the noncontrolling
interest share of the reserves adjustments, respectively, for the quarter and six months ended June 30, 2026, compared to
$30 million and $16 million, respectively, for the same periods in 2025.
3 Noncontrolling interest is reflected as adjusted without $4 million and $6 million of the noncontrolling interest share of
Other restructuring for the quarter and six months ended June 30, 2025.
Otis Worldwide Corporation
Components of Changes in Net Sales
Quarter Ended June 30, 2026 Compared with Quarter Ended June 30, 2025
Factors Contributing to Total % Change in Net Sales
Organic
FX
Translation
Acquisitions /
Divestitures,
net and Other
Total
New Equipment
(1) %
1 %
— %
— %
Service
9 %
1 %
1 %
11 %
Maintenance and Repair
6 %
1 %
1 %
8 %
Modernization
24 %
— %
2 %
26 %
Total Net Sales
6 %
1 %
— %
7 %
Six Months Ended June 30, 2026 Compared with Six Months Ended June 30, 2025
Factors Contributing to Total % Change in Net Sales
Organic
FX
Translation
Acquisitions /
Divestitures,
net and Other
Total
New Equipment
(3) %
3 %
— %
— %
Service
7 %
3 %
1 %
11 %
Maintenance and Repair
5 %
3 %
1 %
9 %
Modernization
16 %
2 %
— %
18 %
Total Net Sales
4 %
3 %
— %
7 %
Components of Changes in New Equipment Backlog
June 30, 2026
Y/Y Growth %
New Equipment Backlog increase at actual currency
3 %
Foreign exchange impact to New Equipment Backlog
1 %
New Equipment Backlog increase at constant currency
4 %
Components of Changes in Modernization Backlog
June 30, 2026
Y/Y Growth %
Modernization Backlog increase at actual currency
24 %
Foreign exchange impact to Modernization Backlog
2 %
Modernization Backlog increase at constant currency
26 %
Otis Worldwide Corporation
Reconciliation of Segment and Total Adjusted Operating Profit at Constant Currency
Quarter Ended June 30, 2026 Compared with Quarter Ended June 30, 2025
(dollars in millions)
2026
2025
Y/Y
New Equipment
Segment Operating Profit
$ 40
$ 68
$ (28)
Impact of foreign exchange
(2)
—
(2)
Segment Operating Profit at constant currency
$ 38
$ 68
$ (30)
Service
Segment Operating Profit
$ 599
$ 578
$ 21
Impact of foreign exchange
(5)
—
(5)
Segment Operating Profit at constant currency
$ 594
$ 578
$ 16
Otis Consolidated
Adjusted Operating Profit
$ 587
$ 612
$ (25)
Impact of foreign exchange
(7)
—
(7)
Adjusted Operating Profit at constant currency
$ 580
$ 612
$ (32)
Six Months Ended June 30, 2026 Compared with Six Months Ended June 30, 2025
Net cash flows provided by operating activities (GAAP)
$ 267
$ 215
$ 680
$ 405
Capital expenditures
(44)
(36)
(77)
(70)
Free cash flow (Non-GAAP)
223
179
603
335
Adjustments for:
UpLift restructuring payments
6
8
14
19
UpLift transformation payments
7
14
11
33
Separation-related payments 1
57
72
63
72
German Tax Litigation refunds 2
(3)
(30)
(129)
(30)
Adjusted free cash flow (Non-GAAP)
$ 290
$ 243
$ 562
$ 429
1 These represent payments to RTX Corporation (our former parent) in accordance with the Tax Matters Agreement.
2 In August 2024, we received a favorable ruling regarding a tax litigation in Germany. The Company began receiving
refunds during 2025 and anticipates the refund process to continue through 2026.
Media Contact:
Katy Padgett
+1-860-674-3047
[email protected]
FirstCash oznámil plánovanou změnu ve vedení: od 1. ledna 2027 se Rick L. Wessel stane výkonným předsedou a T. Brent Stuart převezme funkci CEO i prezidenta.
FORT WORTH, Texas, July 22, 2026 (GLOBE NEWSWIRE) -- FirstCash Holdings, Inc. (“FirstCash” or the “Company”) (Nasdaq: FCFS), the leading international operator of pawn stores focused on serving cash and credit-constrained consumers, today announced planned senior leadership transitions as part of the Company’s long-term succession planning.
Rick L. Wessel, current Chief Executive Officer and Vice-Chairman of the Board, will transition to the role of Executive Chairman, effective January 1, 2027.T. Brent Stuart, current President and Chief Operating Officer, will become Chief Executive Officer and President, effective January 1, 2027.In addition, Mr. Stuart has been added to the Board of Directors, effective immediately.
These changes represent FirstCash’s ongoing commitment to strong corporate governance and have been well-planned over time by the Board of Directors to ensure a smooth long-term transition of leadership while maintaining the Company’s focus on operational excellence and long-term value creation.
In conjunction with these changes, the Company anticipates entering into new three-year employment agreements in January 2027 with Mr. Wessel and Mr. Stuart along with Mr. R. Douglas Orr, the Company’s Executive Vice-President and Chief Financial Officer.
Mr. Wessel has served as Chief Executive Officer of FirstCash since November 2006 and as a director since November 1992. He led the Company’s merger with Cash America in 2016 to become the largest U.S. pawn operator, while also directing FirstCash’s expansion in Latin America and more recently, the United Kingdom. The Company is now the largest pawn operator in each of these markets. Under Mr. Wessel’s guidance, the Company has grown to over 3,300 global locations, annualized revenues of more than $4 billion and a market capitalization of approximately $10 billion.
Mr. Stuart served as President and Chief Executive Officer of Cash America International at the time of its 2016 merger with FirstCash. With over 30 years of leadership experience in the consumer finance and pawn industries, he joined the combined Company as President and Chief Operating Officer in 2016 following consummation of the merger. Mr. Stuart has played a key role in integrating operations, executing growth initiatives, and enhancing the Company’s overall performance across its U.S. and international markets since joining the Company.
As part of the long-term leadership succession plan, Mr. Wessel will transition to the role of Executive Chairman of the Board of Directors, effective January 1, 2027 and Daniel R. Feehan, the current Chairman of the Board of Directors, will retire from his position as Chairman and continue to serve as a member of the Board of Directors. In his capacity as Executive Chairman, Mr. Wessel will continue to be actively engaged in many of the Company’s key growth priorities, including market expansion, pawn acquisitions, and real estate initiatives, while leading the Board of Directors on overall strategy and corporate governance. It is anticipated that Mr. Wessel will serve as Executive Chairman through, at least, the end of 2029 pursuant to a new three-year employment agreement that the Company intends to enter into with Mr. Wessel.
The Company and the Board of Directors also express sincere appreciation to Mr. Feehan for over 40 years of distinguished service, leadership and guidance. His contributions as the CEO and Director of Cash America, and upon the merger with FirstCash in 2016, as Chairman of the combined Board have helped shape the Company’s foundation, culture and long-term success. Mr. Feehan will continue to serve as a highly valued member of the Board, where the Company expects to continue benefiting from his deep industry experience, strategic insight and historical perspective.
Mr. Wessel stated, “I am extremely proud of what we have accomplished at FirstCash over the past several decades. This planned transition is a natural next step in our long-term succession planning and reflects the depth of talent we have built across the organization. I look forward to remaining highly involved with our strategic growth initiatives over the coming years as Executive Chairman, while Brent assumes the Chief Executive Officer role along with his long-standing position as President. Brent has been an outstanding leader and has played a critical role in our growth and success. I have full confidence in Brent’s ability to drive the future growth and success of FirstCash.”
Mr. Stuart stated, “I am honored to be selected as the next Chief Executive Officer of FirstCash while continuing to serve as President. Rick has built an exceptional company and culture, and I am grateful for his mentorship and leadership. I am excited about the opportunities ahead as we continue to execute our strategy, drive growth, and deliver value for our shareholders, customers, and employees.”
Second Quarter Earnings Release The Company’s earnings release for the quarter ending June 30, 2026 remains scheduled for July 23 before the market opening. Mr. Wessel is expected to comment on the continued strength of the Company’s pawn business and further growth plans.
About FirstCash Holdings, Inc. FirstCash Holdings, Inc. is the leading international operator of pawn stores and a leading provider of technology-driven point-of-sale payment solutions, both focused on serving cash and credit-constrained consumers. FirstCash operates more than 3,300 pawn stores in 29 U.S. states and the District of Columbia, the United Kingdom, and Latin America (including all states in Mexico and the countries of Guatemala, Colombia, and El Salvador). Most stores buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments, and other merchandise, and make small non-recourse pawn loans secured by pledged personal property. FirstCash’s pawn operations account for the vast majority of its revenue, with the remainder provided by its wholly owned subsidiary, AFF, a leading provider of customer payment solutions at the point-of-sale for retailers of consumer goods and services. FirstCash is a component company in both the Standard & Poor’s MidCap 400 Index® and the Russell 2000 Index®. FirstCash’s common stock (ticker symbol “FCFS”) is traded on the Nasdaq. For more information, please visit www.firstcash.com.
Forward-Looking Statements This press release contains forward-looking statements about anticipated management changes and future financial and operating performance and prospects of FirstCash Holdings, Inc. and its wholly owned subsidiaries (together, the “Company”). Forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, can be identified by the use of forward-looking terminology such as “outlook,” “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends,” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic,” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, guidance, expectations, outlook and future plans. Forward-looking statements can also be identified by the fact these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties.
While the Company believes the expectations reflected in forward-looking statements are reasonable, there can be no assurances such expectations will prove to be accurate. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. Certain factors may cause results to differ materially from those anticipated by the forward-looking statements made in this release. Such factors and risks may include, without limitation, risks related to the extensive regulatory environment in which the Company operates, including uncertainty involving the present regulatory environment in the jurisdictions in which the Company operates; risks associated with the legal and regulatory proceedings that the Company is a party to or may become a party to in the future; risks related to the Company’s acquisitions, including the failure of the Company’s acquisitions to deliver the estimated value and benefits expected by the Company and the ability of the Company to continue to identify and consummate acquisitions on favorable terms, if at all; potential changes in consumer behavior and shopping patterns which could impact demand for the Company’s pawn loan, retail, lease-to-own (“LTO”) and retail finance products; labor shortages and increased labor costs; a deterioration in the economic conditions in the United States, Latin America and the United Kingdom, including as a result of inflation, elevated interest rates, increased energy costs and trade policy, which potentially could have an impact on discretionary consumer spending and demand for the Company’s products; currency fluctuations, primarily involving the Mexican peso and British pound sterling; competition the Company faces from other retailers and providers of retail payment solutions; the ability of the Company to successfully execute on its business strategies; risks related to the Company’s ability to prevent cyber attacks, other cybersecurity incidents, security breaches or other disruptions to its information technology systems; risks related to the Company’s ability to develop, operate and adapt its information technology infrastructure suitable for the nature of its business and to successfully transition acquired businesses to its information technology platform; contraction in sales activity or store closures at merchant partners of the Company’s retail point-of-sale (“POS”) payment solutions business; the ability of the Company’s retail POS payment solutions business to continue to grow its base of merchant partners; and other risks discussed and described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), including the risks described in Part I, Item 1A, “Risk Factors” thereof, and other reports filed with the SEC. Many of these risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. The forward-looking statements contained in this release speak only as of the date of this release, and the Company expressly disclaims any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
For further information, please contact:
Gar Jackson
Global IR Group
Phone: (817) 886-6998
Email: [email protected]
Doug Orr, Executive Vice President and Chief Financial Officer
Phone: (817) 258-2650
Email: [email protected]
Website: investors.firstcash.com
D.A. Davidson & CO. ve 1. čtvrtletí zvýšila svůj podíl v Helios Technologies o 26,5 % na 30 980 akcií. Firma zároveň oznámila čtvrtletní dividendu ve výši 0,12 USD na akcii.
D.A. Davidson & CO. raised its stake in Helios Technologies, Inc (NYSE:HLIO – Free Report) by 26.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,980 shares of the company’s stock after buying an additional 6,493 shares during the period. D.A. Davidson & CO. owned approximately 0.09% of Helios Technologies worth $2,005,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of HLIO. Triumph Capital Management acquired a new position in shares of Helios Technologies in the 3rd quarter worth $36,000. Quarry LP raised its position in shares of Helios Technologies by 948.6% during the third quarter. Quarry LP now owns 1,164 shares of the company’s stock worth $61,000 after purchasing an additional 1,053 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Helios Technologies during the fourth quarter valued at $66,000. Kemnay Advisory Services Inc. acquired a new position in shares of Helios Technologies in the 4th quarter valued at $104,000. Finally, Osaic Holdings Inc. boosted its position in shares of Helios Technologies by 14.1% in the 4th quarter. Osaic Holdings Inc. now owns 2,942 shares of the company’s stock valued at $158,000 after purchasing an additional 363 shares during the period. Institutional investors and hedge funds own 94.72% of the company’s stock.
Helios Technologies Trading Up 1.0% Shares of NYSE HLIO opened at $81.91 on Wednesday. Helios Technologies, Inc has a one year low of $34.95 and a one year high of $95.05. The firm has a market capitalization of $2.71 billion, a PE ratio of 45.00 and a beta of 1.25. The company has a current ratio of 2.86, a quick ratio of 1.58 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $83.05 and a two-hundred day moving average price of $72.94.
Helios Technologies (NYSE:HLIO – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. Helios Technologies had a net margin of 6.98% and a return on equity of 10.49%. The business had revenue of $228.40 million during the quarter. During the same period last year, the company earned $0.44 earnings per share. Helios Technologies’s revenue for the quarter was up 16.8% compared to the same quarter last year. Helios Technologies has set its Q2 2026 guidance at 0.780-0.830 EPS and its FY 2026 guidance at 2.750-3.000 EPS. As a group, analysts predict that Helios Technologies, Inc will post 2.9 earnings per share for the current fiscal year.
Helios Technologies Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. Helios Technologies’s dividend payout ratio (DPR) is 26.37%.
Insider Activity at Helios Technologies In other news, insider Matteo Arduini sold 6,027 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $90.42, for a total transaction of $544,961.34. Following the transaction, the insider directly owned 11,317 shares in the company, valued at $1,023,283.14. The trade was a 34.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 13,027 shares of company stock worth $1,134,121. Insiders own 0.50% of the company’s stock.
Analyst Ratings Changes Several analysts have issued reports on the company. Stifel Nicolaus boosted their price objective on Helios Technologies from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird raised their target price on shares of Helios Technologies from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their target price on shares of Helios Technologies from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. KeyCorp boosted their price target on shares of Helios Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Finally, Zacks Research upgraded shares of Helios Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $93.25.
View Our Latest Stock Report on Helios Technologies
About Helios Technologies (Free Report)
Helios Technologies, Inc develops and manufactures engineered motion control and electronic control products for a wide range of industrial and mobile equipment applications. The company’s Hydraulics segment designs and produces hydraulic cartridge valves, manifold systems, pumps and motors, filtration solutions and off-highway joysticks. Its Electronic Controls segment offers programmable electronic control units, wireless telematics, human-machine interfaces and software to optimize performance, efficiency and safety for equipment OEMs and end users.
Through its global network of manufacturing facilities, service centers and technology centers, Helios Technologies serves markets in agriculture, construction, material handling, mining, municipal and recreational vehicles, as well as industrial automation and infrastructure equipment.
Featured Stories Five stocks we like better than Helios Technologies Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding HLIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Helios Technologies, Inc (NYSE:HLIO – Free Report).
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« PREVIOUS HEADLINEBank of New York Mellon Corp Has $77.03 Million Stock Position in Applied Industrial Technologies, Inc. $AIT
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Bank of New York Mellon Corp ve 1. čtvrtletí snížila svou pozici v Applied Industrial Technologies o 2,1 % na 290 328 akcií v hodnotě 77,030,000 USD. Analytici zároveň drží průměrné doporučení „Moderate Buy“.
Bank of New York Mellon Corp lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT – Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 290,328 shares of the industrial products company’s stock after selling 6,224 shares during the period. Bank of New York Mellon Corp owned 0.79% of Applied Industrial Technologies worth $77,030,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Compound Planning Inc. increased its position in Applied Industrial Technologies by 4.7% during the fourth quarter. Compound Planning Inc. now owns 822 shares of the industrial products company’s stock worth $211,000 after buying an additional 37 shares during the last quarter. US Asset Management LLC boosted its stake in shares of Applied Industrial Technologies by 3.3% during the 4th quarter. US Asset Management LLC now owns 1,266 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 41 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Applied Industrial Technologies by 7.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 45 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Applied Industrial Technologies by 4.5% during the 1st quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $308,000 after acquiring an additional 50 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Applied Industrial Technologies by 3.6% in the 4th quarter. GAMMA Investing LLC now owns 1,585 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.
Insider Buying and Selling at Applied Industrial Technologies In related news, Director Madhuri A. Andrews sold 3,845 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director owned 4,951 shares in the company, valued at approximately $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the sale, the vice president directly owned 40,751 shares of the company’s stock, valued at $12,471,436.04. This represents a 16.41% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.60% of the company’s stock.
Analyst Ratings Changes Several brokerages recently commented on AIT. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Mizuho upped their target price on Applied Industrial Technologies from $330.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, DA Davidson assumed coverage on Applied Industrial Technologies in a research note on Tuesday, June 16th. They set a “buy” rating and a $380.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $336.71.
Read Our Latest Research Report on Applied Industrial Technologies
Applied Industrial Technologies Price Performance Shares of Applied Industrial Technologies stock opened at $340.91 on Wednesday. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 2.91 and a beta of 0.83. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $345.48. The company has a 50-day simple moving average of $321.81 and a two-hundred day simple moving average of $293.64.
Applied Industrial Technologies (NYSE:AIT – Get Free Report) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.63 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. Analysts forecast that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current year.
Applied Industrial Technologies Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio is presently 19.26%.
Applied Industrial Technologies Company Profile (Free Report)
Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.
Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.
Featured Articles Five stocks we like better than Applied Industrial Technologies Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible
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Fifth Third Bancorp boosted its holdings in Bruker Corporation (NASDAQ:BRKR – Free Report) by 4,058.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,135 shares of the medical research company’s stock after purchasing an additional 55,761 shares during the quarter. Fifth Third Bancorp’s holdings in Bruker were worth $2,064,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Orbis Allan Gray Ltd acquired a new position in Bruker in the second quarter valued at $192,735,000. Price T Rowe Associates Inc. MD increased its position in Bruker by 2,963.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,366,520 shares of the medical research company’s stock valued at $111,488,000 after acquiring an additional 2,289,269 shares during the period. AQR Capital Management LLC raised its stake in Bruker by 125.3% during the 2nd quarter. AQR Capital Management LLC now owns 3,326,820 shares of the medical research company’s stock valued at $137,065,000 after acquiring an additional 1,850,215 shares during the last quarter. Franklin Resources Inc. lifted its position in Bruker by 317.7% during the 4th quarter. Franklin Resources Inc. now owns 2,309,404 shares of the medical research company’s stock worth $108,796,000 after acquiring an additional 1,756,460 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Bruker by 222.6% in the 4th quarter. Millennium Management LLC now owns 1,839,587 shares of the medical research company’s stock valued at $86,663,000 after purchasing an additional 1,269,316 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.
Bruker Price Performance Shares of NASDAQ BRKR opened at $60.43 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 1.55. Bruker Corporation has a one year low of $28.53 and a one year high of $64.54. The firm has a market capitalization of $9.20 billion, a P/E ratio of -251.79, a PEG ratio of 1.80 and a beta of 1.29. The company’s fifty day moving average is $55.29 and its two-hundred day moving average is $46.03.
Bruker (NASDAQ:BRKR – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The medical research company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. Bruker had a negative net margin of 0.65% and a positive return on equity of 11.60%. The firm had revenue of $823.40 million during the quarter, compared to analysts’ expectations of $795.62 million. During the same quarter last year, the business earned $0.47 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Bruker has set its FY 2026 guidance at 2.100-2.150 EPS. Analysts forecast that Bruker Corporation will post 2.12 EPS for the current fiscal year.
Bruker Announces Dividend The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a $0.05 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Bruker’s dividend payout ratio is currently -83.33%.
Analyst Upgrades and Downgrades A number of equities analysts recently weighed in on BRKR shares. JPMorgan Chase & Co. lifted their price objective on shares of Bruker from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Barclays lifted their target price on shares of Bruker from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Bruker from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Leerink Partners increased their price target on shares of Bruker from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Finally, TD Cowen restated a “hold” rating on shares of Bruker in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.79.
View Our Latest Stock Report on BRKR
Bruker Profile (Free Report)
Bruker Corporation, founded in 1960 by physicist Günther Laukien and headquartered in Billerica, Massachusetts, is a leading developer and manufacturer of high-performance scientific instruments and analytical solutions. The company designs systems that enable molecular and materials research across academic, governmental, and industrial laboratories.
Bruker’s product portfolio encompasses nuclear magnetic resonance (NMR) spectrometers for molecular structure and dynamics studies, mass spectrometry platforms for proteomics and metabolomics, X-ray diffraction and scattering instruments for crystallography and materials characterization, atomic force and scanning probe microscopes for nanoscale surface analysis, as well as preclinical imaging systems such as micro-CT and MRI scanners.
In addition to hardware, Bruker provides software suites, applications support, training services, and long-term maintenance agreements to ensure optimal instrument performance.
See Also Five stocks we like better than Bruker Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible
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Studie v JAMA Dermatology ukázala, že Signatera lépe než AMERK předpovídá návrat Merkelova karcinomu. Zachytila relaps častěji, se senzitivitou 90 % vs 55 % a dříve o 5,1 měsíce vs 2,1 měsíce.
Signatera outperformed AMERK, the current standard of care for prognosis and recurrence monitoring, across sensitivity, positive and negative predictive value, and lead time to recurrence
AUSTIN, Texas--(BUSINESS WIRE)--Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA and precision medicine, today announced the publication of results from a prospective, multicenter study in Merkel cell carcinoma (MCC) published in JAMA Dermatology. The study evaluated the Signatera test against the Merkel cell polyomavirus antibody test (AMERK), finding Signatera to be a significantly stronger predictor of recurrence that also detected relapse earlier.
MCC is a rare but aggressive skin cancer that recurs in approximately 40% of patients.1 Despite its severity, clinicians have lacked a reliable, universal biomarker to guide surveillance. The AMERK test has been a widely used monitoring tool, but its utility is limited: it can only be used in the roughly 50% of MCC patients whose tumors are virus-positive, and its accuracy diminishes after immunotherapy exposure or multiple recurrences.2-3 Signatera’s clinical validation has been published across all MCC patients, irrespective of viral status, leading to inclusion in NCCN Guidelines as a recommendation for surveillance monitoring.
This published study is a retrospective analysis of a prospective, multicenter, head-to-head comparison of Signatera and AMERK testing in 169 patients with MCC. Key findings include:
Superior predictive power: The Signatera test was a significantly stronger predictor of recurrence than AMERK (HR difference = 6.6; p < 0.001), with higher hazard ratios, higher positive predictive value (PPV), and higher negative predictive value (NPV).Higher Sensitivity: Signatera detected recurrence more frequently than AMERK with a sensitivity of 90% vs 55%, respectively.Longer Lead Time: In patients where recurrence was detected by both tests, Signatera detected recurrence earlier than AMERK with a median lead time of 5.1 months vs. 2.1 months, respectively.“For years, AMERK had been our best available tool, but its inability to function in virus-negative patients and after immunotherapy has been a recognized limitation,” said Lisa Zaba, M.D., Ph.D., associate professor of dermatology and director of the Merkel cell carcinoma multidisciplinary clinic at the Stanford University School of Medicine, and corresponding author of the study. “These data demonstrate that Signatera can give clinicians a more precise and earlier signal across all patients, enabling more proactive management of this challenging disease.”
“Signatera MRD testing outperformed AMERK across every key measure in this study — sensitivity, hazard ratios, predictive values, and lead time to detection,” said Alexey Aleshin, M.D., MBA, corporate chief medical officer and general manager, oncology, at Natera. “Signatera was shown to be a more universally reliable biomarker for MCC surveillance, particularly because it retains its accuracy in both virus-positive and virus-negative disease and after exposure to immunotherapy.”
References
McEvoy AM, Lachance K, Hippe DS, et al. Recurrence and mortality risk of Merkel cell carcinoma by cancer stage and time from diagnosis. JAMA Dermatol. 2022;158(4):382-389. doi:10.1001/jamadermatol.2021.6096Paulson KG, Lewis CW, Redman MW, et al. Viral oncoprotein antibodies as a marker for recurrence of Merkel cell carcinoma: a prospective validation study. Cancer. 2017;123(8):1464-1474. doi:10.1002/cncr.30475Miller DM, Shalhout SZ, Wright KM, et al. The prognostic value of the Merkel cell polyomavirus serum antibody test: a dual institutional observational study. Cancer. 2024;130(15):2670-2682. doi:10.1002/cncr.35314About Natera
Natera is a global leader in cell-free DNA and precision medicine, dedicated to oncology, women’s health, and organ health. We aim to make personalized genetic testing and diagnostics part of the standard-of-care to protect health and inform earlier, more targeted interventions that help lead to longer, healthier lives. Natera’s tests are supported by more than 400 peer-reviewed publications that demonstrate excellent performance. Natera operates ISO 13485-certified and CAP-accredited laboratories certified under the Clinical Laboratory Improvement Amendments (CLIA) in Austin, Texas, and San Carlos, California, and through Foresight Diagnostics, its subsidiary, operates an ISO 27001-certified and CAP-accredited laboratory certified under CLIA in Boulder, Colorado. For more information, visit www.natera.com.
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are forward-looking statements and are not a representation that Natera’s plans, estimates, or expectations will be achieved. These forward-looking statements represent Natera’s expectations as of the date of this press release, and Natera disclaims any obligation to update the forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including with respect to our whether the results of clinical or other studies will support the use of our product offerings, the impact of results of such studies, our expectations of the reliability, accuracy, and performance of our tests, or of the benefits of our tests and product offerings to patients, providers, and payers. Additional risks and uncertainties are discussed in greater detail in "Risk Factors" in Natera’s recent filings on Forms 10-K and 10-Q, and in other filings Natera makes with the SEC from time to time. These documents are available at www.natera.com/investors and www.sec.gov.
California Public Employees Retirement System ve 1. čtvrtletí snížil podíl v Sun Communities o 8,8 % a prodal 24 801 akcií. Po transakci držel 257 182 akcií v hodnotě 32,395 milionu USD.
California Public Employees Retirement System cut its stake in Sun Communities, Inc. (NYSE:SUI – Free Report) by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,182 shares of the real estate investment trust’s stock after selling 24,801 shares during the period. California Public Employees Retirement System owned 0.21% of Sun Communities worth $32,395,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Sun Communities during the fourth quarter worth $753,364,000. Wellington Management Group LLP boosted its holdings in Sun Communities by 1,224.1% in the third quarter. Wellington Management Group LLP now owns 4,485,795 shares of the real estate investment trust’s stock valued at $578,668,000 after acquiring an additional 4,147,015 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Sun Communities by 37,933.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,474,162 shares of the real estate investment trust’s stock worth $182,663,000 after purchasing an additional 1,470,286 shares during the period. M&T Bank Corp increased its position in Sun Communities by 20,348.9% in the fourth quarter. M&T Bank Corp now owns 498,339 shares of the real estate investment trust’s stock worth $61,749,000 after purchasing an additional 495,902 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in Sun Communities by 152.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 767,190 shares of the real estate investment trust’s stock worth $95,063,000 after purchasing an additional 463,312 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets A number of research analysts have issued reports on SUI shares. Truist Financial cut their target price on shares of Sun Communities from $141.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Weiss Ratings downgraded shares of Sun Communities from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on shares of Sun Communities in a report on Thursday, May 14th. Wells Fargo & Company dropped their target price on shares of Sun Communities from $150.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Finally, Mizuho cut their price target on Sun Communities from $143.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.05.
Get Our Latest Stock Report on Sun Communities
Sun Communities Stock Down 1.0% Shares of NYSE SUI opened at $119.04 on Wednesday. Sun Communities, Inc. has a 52-week low of $115.53 and a 52-week high of $137.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.39 and a current ratio of 3.39. The stock has a market cap of $14.67 billion, a P/E ratio of 10.81, a P/E/G ratio of 3.97 and a beta of 0.79. The firm has a 50 day moving average price of $122.13 and a 200 day moving average price of $126.48.
Sun Communities (NYSE:SUI – Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $1.31 by ($1.38). Sun Communities had a return on equity of 0.16% and a net margin of 62.29%.The business had revenue of $500.50 million for the quarter, compared to analyst estimates of $472.40 million. During the same period in the previous year, the business posted $1.26 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Sun Communities has set its Q2 2026 guidance at 1.710-1.790 EPS and its FY 2026 guidance at 6.870-7.070 EPS. Analysts expect that Sun Communities, Inc. will post 6.9 EPS for the current year.
Sun Communities Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 30th. Sun Communities’s payout ratio is 40.69%.
Insider Activity at Sun Communities In related news, EVP Fernando Castro-Caratini sold 23,750 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the completion of the sale, the executive vice president directly owned 9,998 shares of the company’s stock, valued at approximately $1,244,051.14. This represents a 70.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary A. Shiffman sold 25,031 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the sale, the director owned 857,761 shares in the company, valued at $102,897,009.56. This trade represents a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.58% of the stock is currently owned by insiders.
About Sun Communities (Free Report)
Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.
Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.
Featured Articles Five stocks we like better than Sun Communities Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible
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Multicoin Capital podle on-chain dat přesouvá HYPE v hodnotě 36,5 milionu USD směrem k exitu. Fond už vložil 395 570 HYPE do Coinbase Prime a požádal o odstakeování dalších 211 486 HYPE.
Multicoin Capital appears to be locking in gains on its Hyperliquid ($HYPE) position, with on-chain data tracked by Lookonchain showing the firm moving a combined $36.5 million worth of tokens toward an exit.
The fund accumulated 606,091 HYPE at around $30 roughly five months ago. It has since deposited 395,570 HYPE, worth approximately $23.8 million, into Coinbase Prime, and separately requested to unstake a further 211,486 HYPE valued at close to $13 million. Based on current prices, the position carries an estimated unrealised profit of about $18.5 million.
A High-Conviction Position Now Being TrimmedThe move comes roughly a month after Multicoin published a detailed research report on Hyperliquid, in which it set a base-case price target of $319 for HYPE by 2028. The firm said it initiated a large position early in the year and had been accumulating since, with HYPE representing one of the largest positions in its liquid fund. To manage any conflict of interest, Multicoin adopted a three-day no-trade rule following the report's publication.
Hyperliquid is a vertically integrated Layer 1 blockchain and decentralised exchange built for high-speed trading, generating approximately $873 million in revenue across roughly $2.9 trillion in trading volume in 2025. Approximately 99% of protocol revenue is used to buy back HYPE, which is then effectively removed from circulating supply.
Deposit to Coinbase Prime Signals Potential SaleRouting tokens to Coinbase Prime is a common precursor to a structured institutional exit. On-chain data analysts note that Coinbase Prime deposits by institutional funds have historically tended to precede large structured OTC exits. The unstaking request for the remaining tokens suggests Multicoin may be preparing to liquidate the full position, though the firm has not made a public statement on its intentions.
HYPE reached an all-time high of $76.67 on June 16, 2026, and has since pulled back roughly 18% from that peak. At an average entry of around $30, Multicoin's position would still represent a substantial gain even at current levels.
The profit-taking activity stands in contrast to the firm's longer-term bullish thesis on the protocol, and may reflect routine portfolio management rather than a change in fundamental view.
Sources:
Multicoin Capital: Hyperliquid (HYPE) Analysis and Valuation
Crypto Briefing: Multicoin Capital predicts HYPE will reach $319 by 2028
CoinMarketCap: Hyperliquid (HYPE) price and market data
Velryba na Hyperliquid zvýšila stakované držby nad 1 milion HYPE po dalším vkladu 387 800 tokenů. Celkově má nyní uzamčeno zhruba 61,2 milionu USD v HYPE.
A previously dormant whale on the Hyperliquid network has crossed a significant threshold, pushing its total staked holdings above one million $HYPE tokens after depositing an additional 387,800 tokens, according to on-chain data tracked by Onchain Lens.
A Stake Worth Tens of Millions The latest deposit is valued at roughly $23.4 million and follows an earlier stake of 619,120 HYPE made in November 2025. Combined, the whale's lifetime staked position is now worth approximately $61.2 million.
The move comes as $HYPE trades in a range that reflects broader strength in the Hyperliquid ecosystem. The platform crossed $1 billion in cumulative protocol revenue on June 30, according to DeFiLlama. The platform routes about 99% of trading fees into open-market HYPE purchases through its Assistance Fund.
Why Staking HYPE Matters Hyperliquid runs on delegated proof-of-stake (dPoS), where holders delegate their tokens to a validator, and an active set of validators uses that stake to produce and confirm blocks via HyperBFT consensus. In exchange for helping secure the chain, stakers earn rewards. The current staking yield is around 2.2 to 2.4% APY, paid in HYPE and auto-compounding.
Beyond yield, locking tokens into staking removes supply from active circulation. Ongoing buyback programs and staking mechanisms that remove tokens from active circulation create favorable supply-demand dynamics. This is part of what has attracted sustained whale interest in the token.
The platform now commands roughly 70% of all on-chain perpetual futures volume across every blockchain, processing over $10.5 billion in daily trading activity at throughput levels that rival traditional centralized exchanges.
The whale's decision to lock up over one million tokens at current prices signals a long-term conviction bet on the protocol, at a time when on-chain activity and institutional attention around $HYPE continue to build.
Sources:
BeInCrypto: Hyperliquid Whales Show Conflicting Moves as HYPE Hits Fresh Peak
CryptoRank: Hyperliquid Price Outlook for July 2026
Coinbase: Hyperliquid (HYPE) Price and Market Data
Annamite Capital spustila institucionální platformu pro správu bitcoinové treasury, která má držitelům BTC přinášet výnosy v BTC při zachování vlastnictví, custody a governance. Platforma je dostupná kvalifikovaným institucionálním investorům po celém světě.
Firm offers bespoke managed account solutions to help institutions generate BTC-denominated returns while preserving ownership, custody and institutional governance. As digital asset treasury companies have successfully acquired Bitcoin, the focus has evolved to improving yield generation on these assets.
LONDON, July 22, 2026 /PRNewswire/ — Annamite Capital, the institutional digital asset investment manager founded by Tom Geary and Lucas Gaylord, has announced the launch of its institutional treasury management platform, designed to help publicly traded Bitcoin holders transform dormant treasury holdings into productive assets, while maintaining institutional standards for custody and risk management.
As public and private companies continue to adopt Bitcoin as a strategic treasury asset, many organizations face a common challenge: how to diversify returns on balance-sheet Bitcoin holdings while maintaining prudent risk and governance controls.
Annamite’s Bitcoin Treasury Management platform addresses this need through customized Separately Managed Accounts (SMAs), where clients retain ownership of their Bitcoin, while gaining exposure to Annamite’s multi-manager, multi-strategy Bitcoin yield program.
The platform seeks to generate Bitcoin-denominated returns through a diversified portfolio of specialist market-neutral investment strategies, including arbitrage, quantitative trading and other systematic approaches. Capital is allocated across independent specialist managers with the objective of maximizing diversified sources of idiosyncratic alpha along the efficient frontier, while minimizing directional exposure and counterparty risk. SMA mandates are bespoke to meet each client’s risk, return and liquidity objectives. The platform targets attractive risk-adjusted BTC returns while seeking to achieve limited drawdowns.
“Corporate Bitcoin adoption has entered a new phase,” said Tom Geary, CFA, Co-Founder and Managing Partner of Annamite Capital. “Balance sheet-based industries tend to evolve along a shared arc. In the 90s, insurance firms who turned their balance sheets into professionally managed portfolios thrived into the successful firms they are today. We are seeing the same pattern evolve in the corporate BTC space.
“Many treasury companies have successfully accumulated Bitcoin and other digital assets. The next challenge is transforming those holdings into productive assets. Our approach is the same as traditional allocators: multi-manager, market-neutral investment frameworks to improve resilience and diversify sources of alpha. Our goal is to help generate BTC-denominated returns while maintaining institutional standards.”
Through the SMA structure, clients retain legal ownership of their Bitcoin throughout the investment process. Assets remain with qualified custodians or in approved tri-party arrangements, while trading activity occurs through delegated authority and off-exchange settlement infrastructure. This separation of custody from execution materially reduces exchange counterparty risk while enabling full transparency for the investor.
The treasury management platform is available to qualified institutional investors globally. Customized mandates are structured based on each client’s liquidity requirements, custody preferences, risk tolerance, and treasury objectives. While initially focused on Bitcoin, the platform also supports customized treasury mandates for and other digital assets such as Ether and XRP, enabling institutions to generate native asset-denominated returns while retaining ownership and custody.
About Annamite Capital
Annamite Capital is a regulated institutional digital asset investment manager specializing in multi-manager, market-neutral investment strategies and digital asset treasury management. The firm combines institutional portfolio construction, crypto-native trading infrastructure and purpose-built risk management to deliver customized investment solutions for institutions, corporate treasuries, family offices and long-term digital asset holders. Founded by executives from Citadel, UBS, Brevan Howard, Cambridge Associates, Morgan Stanley, ConsenSys and leading digital asset infrastructure companies, Annamite Capital is focused on helping institutions generate long-term native asset-denominated returns while maintaining institutional standards for governance, custody and risk management.
For more information, visit www.annamite.com or contact [email protected].
Bank of New York Mellon Corp boosted its stake in Wingstop Inc. (NASDAQ:WING – Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 488,213 shares of the restaurant operator’s stock after purchasing an additional 49,300 shares during the period. Bank of New York Mellon Corp owned about 1.79% of Wingstop worth $75,658,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. grew its stake in Wingstop by 76.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 60 shares during the period. Rakuten Securities Inc. grew its holdings in shares of Wingstop by 197.9% during the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 95 shares during the last quarter. GW&K Investment Management LLC increased its position in shares of Wingstop by 75.7% during the fourth quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after acquiring an additional 81 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after buying an additional 119 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new position in Wingstop during the 4th quarter valued at about $63,000.
Wingstop Price Performance Shares of NASDAQ WING opened at $134.95 on Wednesday. The firm has a fifty day moving average price of $150.95 and a 200-day moving average price of $194.79. The stock has a market cap of $3.67 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 1.68 and a beta of 1.79. Wingstop Inc. has a 1 year low of $116.35 and a 1 year high of $381.45.
Wingstop (NASDAQ:WING – Get Free Report) last released its earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The company had revenue of $183.72 million for the quarter, compared to analysts’ expectations of $187.82 million. During the same quarter in the previous year, the company earned $0.99 EPS. Wingstop’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts expect that Wingstop Inc. will post 4.57 EPS for the current year.
Wingstop Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, May 15th. Wingstop’s dividend payout ratio (DPR) is 29.85%.
Analysts Set New Price Targets WING has been the topic of a number of research reports. Weiss Ratings downgraded shares of Wingstop from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Raymond James Financial upgraded shares of Wingstop from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $325.00 to $240.00 in a research report on Thursday, April 2nd. Stephens set a $200.00 price target on shares of Wingstop in a research note on Tuesday. Guggenheim cut their price objective on shares of Wingstop from $255.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Finally, The Goldman Sachs Group lowered Wingstop from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $290.00 to $190.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $259.15.
Read Our Latest Research Report on WING
Wingstop Profile (Free Report)
Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.
The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.
Read More Five stocks we like better than Wingstop Confidence Is Back, But Earnings Show the Consumer Is Being Picky AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative? 3 Photonics Companies Making Quantum Tech Possible Want to see what other hedge funds are holding WING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wingstop Inc. (NASDAQ:WING – Free Report).
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