Akcie LVMH, Kering a Hermès letos kvůli slabší poptávce v Číně klesly o 40 %; tržby těchto společností ve třetím čtvrtletí meziročně klesly o 2 %, 1 % a 2 %.
Stocks for some of Europe’s most famous luxury brands are plummeting to their lowest level in years as Chinese customers cut back purchases and an industry revamp fails to launch.
Shares are down a jaw-dropping 40% so far this year for the continent’s fashion stalwarts — LVMH, parent company of Louis Vuitton, Gucci and more; Kering, which owns brands including Gucci and Bottega Veneta; and independent-minded Hermès.
A widely reported drop in demand for luxury products — particularly among Chinese customers and international social climbers, sometimes called “aspirational shoppers” in industry lingo — is to blame for Kering’s woes, the Wall Street Journal noted.
A Gucci storefront where men’s flip-flops can cost $900. JHVEPhoto – stock.adobe.com
“We know we have a lot of work to do in China,” the conglomerate’s finance chief Armelle Poulou said on an earnings call.
Kering sales dropped 1% in the third quarter. LVMH and Hermès each saw a 2% decrease. At Gucci alone, sales were down 6%.
The drop comes as the Chinese economy has been taken a beating. While unemployment is up, property values and household spending have been trending downward, according to the Journal. The country recently saw its slowest GDP growth since 2022.
“Despite the recent share price weakness, we expect some further pressure on the space as a whole today, with confirmation that the Chinese cluster seems to have taken a material (and bigger than feared) step down,” said JP Morgan analysts said in a note to investors about LVMH, according to Reuters.
The stock decline has put a dent in LVMH kingpin Bernard Arnault’s fortune. He last topped Forbes’ list of billionaires in 2024, when he was worth $233 billion, but his wealth is listed at around $171 billion today, putting him in seventh place.
Meanwhile, LVMH-owned Zenith has started a consultation process that may lead to layoffs, according to Reuters.
Products display in 2024 at the Louis Vuitton fashion house at Marina Bay Sands shopping mall in Singapore. A mini bag can cost $2,000 or more. monticellllo – stock.adobe.com
A Hermes store in Munich in 2019. The brand’s coveted Birkin bag can sale for up to $53,000 auction price. EdNurg – stock.adobe.com
Customers in Asia, with China as the lead, account for a quarter of Kering’s sales.
An Hermès finance exec said the Chinese market – the company’s largest – was “very difficult.” Eric du Halgouet told reporters that he still remained confident about the Asian market and would “continue to invest,” according to Reuters.
There might be a shinier future for the prestigious brands. Analysts at Goldman Sachs Research are forecasting a 7% revenue increase for the luxury goods sectors as a whole for 2027.
“We view this as a solid recovery for an industry that has faced a prolonged period of sluggish performance,” wrote Erwan Rambourg, the group’s head of Europe luxury and lifestyle.
Smaller Gucci bags can go for around $900. However, Gucci heels can cost about $1,200. gpriccardi – stock.adobe.com
He expects more innovation and a reliance on different types of products. For instance, Gucci and L’Oréal have a 50-year exclusive beauty license that goes into effect in 2027.
Still, challenges include China’s property value woes, with new home prices losing 0.1% of their market value monthly, according to Reuters. Beijing recently announced subsidies for first-time mortgages to boost home sales, according to the Journal.
The stock decline has put a dent in LVMH kingpin Bernard Arnault’s fortune. REUTERS
Last month, luxury credit card spending dropped 6% year over year, according to Citi.
Still, LVMH said it was good third-quarter growth in Europe and the US as Chinese customers looked elsewhere.
Bank of America snížila doporučení pro NVR na „podprůměrný výkon“; objednávky nových domů ve 3. čtvrtletí meziročně klesly o 7 % a tržby z výstavby domů o 8 % na 2,35 mld. USD.
NVR Inc. (NYSE:NVR) received a downgrade from Bank of America on Friday as the investment firm warned that weakening homebuyer demand, rising construction costs and pressure on profit margins could weigh on the homebuilder’s earnings through 2027.
Bank of America analyst Rafe Jadrosich downgraded NVR from Buy to Underperform and lowered the price forecast to $5,900 from $6,725.
Jadrosich cited disappointing third-quarter results, slowing sales in key markets and concerns that NVR’s valuation remains elevated despite deteriorating fundamentals.
Weak Homebuyer Demand Raises ConcernsNVR reported third-quarter earnings of $89.45 per share, about 12% below Bank of America’s forecast of $101.53.
New home orders fell 7% year over year to 4,391, missing the firm’s estimate by 14%. The average selling price of new orders declined 4%.
Homebuilding revenue dropped 8% to $2.35 billion, while home deliveries fell 7%.
Jadrosich highlighted weakening demand in NVR’s core Mid-Atlantic markets, where the company has historically maintained a competitive advantage.
Philadelphia and Richmond slipped 10 and 13 positions, respectively, in Bank of America’s September housing market rankings. Baltimore and Virginia Beach also showed signs of weakness.
Mid-Atlantic orders declined 4%, while orders per community plunged 19% year over year.
The analyst said the slowdown was particularly concerning because NVR had previously maintained stronger sales momentum than many competitors.
Rising Costs Threaten Profit MarginsBank of America expects additional pressure on NVR’s margins as the company adjusts home prices to attract buyers while facing higher land, labor and construction costs.
NVR’s adjusted homebuilding gross margin contracted 246 basis points year over year to 19.3% in the third quarter. Its homebuilding operating margin fell 322 basis points to 13%.
Jadrosich warned that weaker sales could force NVR to offer more competitive pricing to maintain its home delivery schedule.
The company’s business model relies on options to purchase developed lots, which could create pressure to sustain sales volumes as land purchase commitments come due.
Meanwhile, higher lumber and transportation costs, along with persistent shortages of finished lots, could further weigh on profitability.
NVR’s vertical integration could also expose it to rising construction material costs earlier than some competitors.
Labor shortages have added another challenge. The company’s backlog conversion rate declined to about 48% from 56% a year earlier.
Earnings Forecasts Cut, Buybacks Expected to SlowBank of America lowered its 2026 and 2027 earnings estimates by 5% and 10%, respectively.
The firm now expects earnings of $345.39 per share in 2026 and $357.42 in 2027.
Jadrosich also expects NVR’s share repurchases to slow as weaker earnings and declining cash reserves limit its ability to sustain aggressive buybacks.
The company repurchased approximately $2.1 billion in shares in 2024 and $1.8 billion in 2025, exceeding its free cash flow in both years.
Bank of America forecasts repurchases of $1.4 billion in 2026, followed by $1.1 billion annually in 2027 and 2028.
The analyst also warned that stock-based compensation expenses could increase in 2027 if NVR resumes its traditional four-year stock option grant cycle.
Valuation Remains Elevated Despite Earnings WeaknessJadrosich said NVR’s valuation has become harder to justify as earnings expectations weaken.
Bank of America’s 2026 and 2027 earnings forecasts have declined 25% and 33%, respectively, since the beginning of the year. However, NVR shares have fallen only 16% over that period.
The stock trades at approximately 17 times projected 2027 earnings, above its historical average.
The revised $5,900 price forecast is based on 16.5 times estimated 2027 earnings, down from the firm’s previous valuation multiple of 17 times.
Despite acknowledging NVR’s strong market position and operating history, Jadrosich remains cautious until demand, land costs and profit margins show clearer signs of improvement.
NVR Price Action: NVR shares were down 0.81% at $6,060.96 at the time of publication on Friday, according to Benzinga Pro data.
EUR/USD za poslední měsíc klesl o 1,45 %, přesto jsou spekulativní krátké pozice v EUR na nejmedvědnějších úrovních za pětileté referenční období. Případný odraz k 1,1260 však může být jen krátkodobý.
The single currency alternated gains and losses against the US Dollar (USD) this week, prompting EUR/USD to stabilise around the 1.1200 neighbourhood on Friday, while remaining unable to sustain its earlier bull run toward the 1.1260 zone. On the monthly chart, the second drop in a row appears almost unavoidable.
Furthermore, spot has given away around six big figures since its peak past 1.1700 in the summer, coming under increasing selling pressure since then in tandem with the strong bounce in the Greenback.
On the latter, the US Dollar has traded on the back foot this week, as the ongoing bullish move appears to have taken a breather alongside alternating moods regarding developments from the Middle East crisis.
Next week could be critical for the pair in light of both the European Central Bank (ECB) and Federal Reserve (Fed) meetings, where both central banks are expected to keep a steady hand this month.
No news is hardly good newsGeopolitical tensions remain stubbornly elevated. The familiar US-Iran standoff over the Strait of Hormuz shows little sign of resolution, while the ongoing Russia-Ukraine conflict adds another layer of uncertainty, keeping risk aversion alive and safe-haven demand supported.
Energy prices put the ECB back on the defensiveThe geopolitical fallout is increasingly visible in energy markets. Crude Oil prices continue to climb, European fuel costs are rising, and gas price forecasts face repeated upward revisions. For the energy-dependent Eurozone, this represents more than another squeeze on household budgets: it threatens to turn an external price shock into a more persistent inflation problem.
That is precisely where the European Central Bank faces its biggest challenge. Policymakers can look through a temporary jump in energy prices, but not if higher costs spread into wages, services and inflation expectations. With growth already vulnerable to expensive energy imports, the ECB risks having to tighten policy into a weakening economy simply to prevent inflation from becoming entrenched. The longer the energy shock persists, the stronger the case for additional tightening becomes. Markets are already pricing in around 18 basis points of further rate hikes by year-end.
Now, about inflation…According to Friday’s ECB survey, Eurozone consumers’ inflation expectations rose slightly over the 12-month horizon in September, while longer-term expectations remained unchanged. The survey points to persistent upside risks for the ECB, although it does not yet suggest a fresh deterioration in medium-term expectations.
Inflation expectations for the next year increased to 3.1% from 3.0% in August. Expectations three years ahead held at 2.9%, while the five-year measure remained unchanged at 2.5%.
The latest survey is mildly hawkish for monetary policy.
Near-term expectations remain elevated and above the bank’s 2% target, but the stability of the three- and five-year measures suggests that longer-term expectations have not materially de-anchored. The ECB will nevertheless remain alert to the risk that persistent energy and supply pressures may begin to influence broader price-setting behaviour.
Crowded shorts meet a surprising options divergenceEUR bearish positioning intensified in the week ending October 13, according to Commodity Futures Trading Commission (CFTC) data.
That said, non-commercial net shorts increased to around 137.6K contracts, while the weekly change deteriorated to -38,241 contracts from -36,076. The four-week change tumbled to around -110.6K contracts, confirming that bearish speculative positioning continues to deepen.
Also, open interest rose to around 874.6K contracts. The deeper net shorts, combined with a slightly higher participation, suggest a continued bearish positioning, though the modest increase in open interest implies the latest move was not accompanied by a significant expansion in overall market activity.
The speculative exposure plummeted to -15.73% (previously -11.41%), and its percentile dropped to 0 (from 0.7). The Net Position Percentile also remained at 0. Both measures are now at the most bearish levels in the five-year reference period, showing that EUR positioning is historically extreme both in absolute terms and relative to open interest.
However, the options market presents a contrasting picture. The one-month 25-delta Risk Reversal was -0.531 volatility points on October 22, implying that EUR puts are still priced higher than equivalent calls. But the reading is at the 30.7th percentile of its five-year distribution, indicating that the downside skew is quite moderate compared with the extremely bearish positioning in futures markets.
More importantly, option pricing has now become decidedly less bearish compared to EUR/USD spot performance. The pair has dropped 1.45% over the last month, but Risk Reversals were higher by 0.114 volatility points. Historically, a decline of such magnitude would have implied a deterioration of about 0.223 volatility points based on their history.
Instead, the positive deviation of 0.337 volatility points is at the 89.5th percentile of the out-of-sample distribution. This implies that options have repriced the EUR much more positively than spot moves would imply in isolation, creating a large divergence between speculative futures positioning and options sentiment.
That said, the latest weekly Risk Reversal change of -0.082 volatility points suggests that some demand on the downside has returned, meaning the improvement in options sentiment is not yet firmly established across all time horizons.
Overall, the positioning on the EUR remains decisively bearish, but the divergence between futures and options is something to watch. Speculative shorts are exceptionally extended, while options markets are displaying considerably less downside concern than the EUR’s recent weakness would normally suggest. This combination raises the risk of a short-covering rebound if bearish momentum begins to fade, although the continued deterioration in weekly futures positioning means that a sustained reversal remains unconfirmed.
What’s in store for EUR/USD?The coming week may be key for EUR/USD: preliminary inflation figures from Germany and the Euroland will provide fresh clues on whether the recent energy-induced price pressures are beginning to feed through to inflation expectations.
In addition, the ECB is widely anticipated to leave its policy rates unchanged at its meeting on Thursday, while the usual press conference by President Christine Lagarde is expected to highlight persistent energy-driven inflation.
Across the Atlantic, the focus will be on the FOMC gathering on Wednesday, with the Federal Reserve (Fed) also seen leaving its Fed Funds Target Range (FFTR) at 3.75%-4.00%. Data-wise, investors are also expected to keep their focus on inflation measured by the Personal Consumption Expenditure (PCE) and another estimate of the Q3 GDP Growth Rate.
Too bearish to fall, too weak to rally?While the Euro may be near a level where selling is becoming more difficult, that doesn’t necessarily mean the overall bearish trend is losing momentum. The pair stays close to 1.1200 after giving up some six big figures from summer highs. The short-term outlook is fragile, with the Greenback holding a bid amid relatively solid US fundamentals, higher Treasury yields and ongoing geopolitical uncertainty.
Still, positioning suggests the next move may not be entirely smooth. Speculative EUR shorts are at 5-year extremes, and options markets are showing much less conviction in the bearish theme than the recent decline in spot would imply. That divergence makes spot more and more susceptible to a short-covering rally if next week's Fed meeting turns out to be less hawkish than what investors are currently expecting.
However, a recovery driven primarily by position adjustment would hardly qualify as a genuine change in trend. The Eurozone remains particularly exposed to elevated energy prices, and while those pressures could keep the ECB leaning towards further tightening, they also threaten to undermine growth. That uncomfortable combination limits the extent to which a hawkish ECB can provide lasting support for the single currency.
Looking beyond next week's central bank meetings, the balance of risks therefore remains tilted to the downside. A sustained recovery would likely require a meaningful retreat in US yields, a broader improvement in risk appetite and convincing evidence that the Fed's tightening cycle is approaching its end. Without those catalysts, any rebound towards the 1.1260 area could struggle to attract sustained buying interest, leaving the 1.1000 psychological threshold as a plausible medium-term destination.
For now, the Euro may be due for a bounce, but the burden of proof remains firmly on the bulls.
Inflation FAQs
Inflation measures the rise in the price of a representative basket of goods and services. Headline inflation is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.
The Consumer Price Index (CPI) measures the change in prices of a basket of goods and services over a period of time. It is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core CPI is the figure targeted by central banks as it excludes volatile food and fuel inputs. When Core CPI rises above 2% it usually results in higher interest rates and vice versa when it falls below 2%. Since higher interest rates are positive for a currency, higher inflation usually results in a stronger currency. The opposite is true when inflation falls.
Although it may seem counter-intuitive, high inflation in a country pushes up the value of its currency and vice versa for lower inflation. This is because the central bank will normally raise interest rates to combat the higher inflation, which attract more global capital inflows from investors looking for a lucrative place to park their money.
Formerly, Gold was the asset investors turned to in times of high inflation because it preserved its value, and whilst investors will often still buy Gold for its safe-haven properties in times of extreme market turmoil, this is not the case most of the time. This is because when inflation is high, central banks will put up interest rates to combat it.
Higher interest rates are negative for Gold because they increase the opportunity-cost of holding Gold vis-a-vis an interest-bearing asset or placing the money in a cash deposit account. On the flipside, lower inflation tends to be positive for Gold as it brings interest rates down, making the bright metal a more viable investment alternative.
Akcie společnosti CoreWeave (CRWV) v pátek klesly na nové 52týdenní minimum; vyšší úrokové sazby a obavy z výdajů na umělou inteligenci zhoršují důvěru v zadlužené poskytovatele cloudové infrastruktury.
CoreWeave Inc. (NASDAQ:CRWV) shares are breaking to a new 52-week low Friday, its second fresh low in days, as higher rates keep weighing on the stock.
CoreWeave stock is testing key support levels. Why is CRWV stock at lows? At roughly $54.28, CoreWeave trades below the $57.24 low it set earlier this week and about 62% beneath its 52-week high of $141.79. Today’s 1.43% decline adds to a long slide: around 10.72% over five days, 36.93% over a month and 53.32% over six months.
Morgan Stanley and UBS Cut CoreWeave TargetsMorgan Stanley analyst Keith Weiss stayed at Equalweight and reduced the price target to $70 from $99. Weiss credits CoreWeave with solid execution and calls it the “speed and scale leader” among crowded neocloud rivals. Still, financing uncertainty is obscuring how the company will deploy its contracted capacity and eventually reach 8 gigawatts of active capacity.
More news today includes UBS analyst Karl Keirstead, who held Buy and trimmed the price target to $105 from $120. Keirstead noted that CoreWeave has lost 37% in October as neocloud AI infrastructure stocks, Oracle among them, saw confidence erode.
Microsoft and Amazon moved higher instead, a split Keirstead takes as a defensive turn on AI infrastructure, and one UBS broadly shares. The note revisits CoreWeave’s credit story and warns that rebuilding confidence could be a “multi-quarter fix.”
Rising Rates Pressure Debt-Heavy CoreWeaveHigher interest rates are weighing on companies that carry heavy debt, alongside unease over AI spending, and CoreWeave is among them. Rates and AI spending worries have driven this week’s selling.
CNBC reported Wednesday that holders of CoreWeave stock and bonds are both losing confidence as rates climb and AI build-out doubts grow. Investors increasingly view debt-laden neocloud providers, CoreWeave among them, as the most vulnerable corner of AI.
CRWV Shares Are FallingCRWV Price Action: CoreWeave shares were down 1.13% at $54.97 at the time of publication on Friday. The stock is trading at a new 52-week low, according to Benzinga Pro.
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Planet Labs otevřela v Berlíně továrnu s kapacitou až 60 satelitů ročně, aby uspokojila rostoucí poptávku ze strany evropských vlád; tržby v regionu EMEA ve 2. fiskálním čtvrtletí vzrostly o více než 130 %.
Key Takeaways Planet Labs' new Berlin facility can produce up to 60 satellites annually to serve European sovereign demand.Defense and Intelligence revenues surged 93.3%, while EMEA revenues jumped more than 130% in Q2.PL expects $100-$115M in fiscal 2027 capex as weaker free cash flow raises concerns about returns.
Planet Labs PBC (PL - Free Report) is expanding its manufacturing footprint in Europe as sovereign satellite demand becomes a larger part of its growth story. The new Berlin facility adds capacity closer to European customers and could support faster regional execution.
The opportunity comes with a cost. Planet Labs is increasing capital spending while free cash flow has weakened, making utilization and returns on the new capacity important measures of whether the expansion creates durable value.
Planet Labs Adds Major European CapacityPlanet Labs opened its 5,700-square-meter Berlin satellite manufacturing facility in September. The site is designed to scale to as many as 60 satellites annually, with the first satellite expected before year-end.
The expansion also brings production closer to European sovereign customers, where Planet Labs has seen growing interest in satellite services and related capabilities.
PL Is Already Seeing Sovereign DemandIn August, Germany’s Federal Ministry of the Interior awarded Planet Labs a tender for dedicated-capacity satellite services. The award includes options and carries a maximum possible value of €25 million over five years, with Germany becoming the first civil government to procure Planet Labs’ dedicated Constellation Services.
The company is building a broader European presence around that demand. BlackSky Technology Inc. (BKSY - Free Report) , another space-based intelligence provider, is also pursuing international government opportunities through its high-revisit imaging and analytics platform. Satellogic Inc. (SATL - Free Report) serves defense, civil government and commercial customers with persistent Earth-observation monitoring, underscoring the competitive push for sovereign and regional space capabilities.
Planet Labs’ Defense Business Is Expanding FastDefense and Intelligence revenues reached nearly $81 million in the fiscal second quarter of 2027, up 93.3% year over year. The category represented about 70% of quarterly revenues, making it the company’s largest customer vertical during the period.
European demand has been especially strong. Revenues in Europe, the Middle East and Africa increased more than 130% year over year in the quarter. The growth reflects Planet Labs’ expanding sovereign satellite business and gives the Berlin investment a clear regional demand backdrop.
PL Must Fund Capacity Before Returns ImproveThe Berlin buildout is part of a wider investment program. Planet Labs expects fiscal 2027 capital expenditures of $100-$115 million as it expands manufacturing in San Francisco and Berlin, improves supply-chain resiliency and develops next-generation satellite fleets.
Liquidity provides room to invest, with roughly $865 million in cash, cash equivalents and short-term investments at the end of the fiscal second quarter. Still, first-half free cash flow fell to $21.3 million from $54.3 million a year earlier, while trailing 12-month return on invested capital was negative 39.1%. Higher utilization and operating leverage will be important if the new capacity is to improve returns.
PL’s Scores Reflect Opportunity and Execution RiskThe Berlin facility strengthens Planet Labs’ ability to address European sovereign demand, but the investment case still depends on execution. More manufacturing capacity can support growth only if contract wins translate into sustained revenues, improving margins and better capital efficiency.
PL currently carries a Zacks Rank #3 (Hold). It has a Momentum Score of A and Growth Score of B, but a Value Score of F and VGM Score of C. The stronger Momentum and Growth scores point to favorable characteristics in those styles, while the weak Value score argues for valuation discipline. Taken together, the signals support a measured view as investors watch how effectively Planet Labs converts its European expansion into higher-return growth.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Tržby Planet Labs ve 2. čtvrtletí fiskálního roku 2027 vzrostly o 58,1 % na 116,1 mil. USD, ale ocenění na úrovni 8,8násobku očekávaných tržeb zvyšuje nároky na další růst.
Key Takeaways Planet Labs' Q2 revenues surged 58.1% to $116.1M, driven by 93.3% growth in Defense and Intelligence.PL's $815M backlog supports revenue visibility, while fiscal 2027 sales are projected to grow 40-43%.PL trades at 8.8X forward sales, while heavy capital spending and negative returns raise valuation concerns.
Planet Labs PBC (PL - Free Report) combines rapid revenue growth, rising sovereign demand and substantial contracted business with a valuation that already discounts considerable future execution. The setup is attractive on growth, but less forgiving on price.
That leaves investors weighing whether improving operating trends can offset heavy reinvestment needs and weak capital returns. The current evidence supports a measured stance rather than treating growth alone as sufficient reason to become more aggressive.
Planet Labs Has Powerful Revenue MomentumFiscal second-quarter 2027 revenues increased 58.1% year over year to $116.1 million. Defense and Intelligence revenues rose 93.3% to $81 million, making that customer vertical the main driver of the quarter’s expansion.
Management expects fiscal 2027 revenues of $430-$441 million, representing roughly 40-43% annual growth. The outlook also calls for non-GAAP gross margin of 55-57% and adjusted EBITDA profit of $3-$10 million, showing that management expects growth to coexist with improving operating leverage.
PL’s Backlog Adds Visibility to Future GrowthBacklog was approximately $815 million at the end of the fiscal second quarter, up about 11% year over year. Roughly half applies to the next 12 months, while about 70% applies to the next 24 months.
Remaining performance obligations totaled approximately $753 million, up 9%. Management estimates that executing contracts already in backlog could generate more than $400 million in revenues over the next four quarters, excluding new business and renewals, giving PL meaningful near-term visibility.
Planet Labs Still Requires Heavy ReinvestmentPlanet Labs expects fiscal 2027 capital expenditures of $100-$115 million. Management plans to direct spending toward manufacturing expansion, supply-chain resiliency and next-generation satellite fleets as it builds capacity for future demand.
That investment burden is already visible in cash flow. First-half free cash flow fell to $21.3 million from $54.3 million a year earlier, while operating cash flow declined to $68.4 million from $85.1 million. Management still targets positive adjusted free cash flow for the full fiscal year.
PL’s Premium Valuation Raises the BarPL trades at 8.8X forward 12-month sales, above the 2.6X Zacks sub-industry multiple and its 4.8X three-year median. With GAAP operating results still negative and trailing 12-month return on invested capital at negative 39.1%, the current valuation leaves limited room for execution setbacks.
Image Source: Zacks Investment Research
The competitive backdrop also matters. BlackSky Technology Inc. (BKSY - Free Report) provides real-time space-based intelligence using high-revisit imagery, analytics and its proprietary satellite constellation. Satellogic Inc. (SATL - Free Report) is developing its Merlin constellation for daily global monitoring at one-meter resolution, highlighting continued investment across Earth observation.
PL’s Scores Favor Growth but Flag ValuationThe bottom line is that Planet Labs has a credible growth case backed by rapid revenue expansion, a large backlog and increasing sovereign demand, but its valuation and capital intensity argue for patience. Investors may want to see sustained margin progress and better capital efficiency before assigning even more value to future growth.
PL currently carries a Zacks Rank #3 (Hold). It also has a Growth Score of B and Momentum Score of A, while its Value Score of F and VGM Score of C are less supportive. The favorable Growth and Momentum scores recognize stronger characteristics in those styles, but the weak Value score reinforces valuation caution. Taken together with the Hold rank, the signals fit a balanced view rather than a clear buy case.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hydration spustila v ekosystému Polkadot swapy Zcash (ZEC) s funkcemi DCA a limitních příkazů. Trhy pro půjčky a výpůjčky ZEC by měly následovat již v pondělí.
Hydration, a leading Polkadot DEX, has launched Zcash ($ZEC) swaps with DCA and limit orders, with ZEC lending and borrowing markets due as early as Monday.
Hydration (@Hydration_net), one of the main decentralized exchanges on Polkadot (@Polkadot), has launched swaps for Zcash (@Zcash) $ZEC within its ecosystem. The move brings a leading privacy token into Polkadot's DeFi stack.
Users can trade ZEC pairs through Hydration's liquidity layer. The venue supports dollar-cost averaging (DCA), limit-order execution and instant swaps for the token.
Lending and borrowing nextHydration is also scheduled to activate $ZEC lending and borrowing markets as early as Monday. Together with the swaps, the rollout gives ZEC holders a way to trade and put the asset to work on-chain without leaving the Polkadot ecosystem. The lending launch date is a target and could change.
Hydration, formerly known as HydraDX, is built around an Omnipool automated market maker that concentrates liquidity in a single pool. According to the same overview, it also runs a money market for supplying and borrowing assets and a decentralized, over-collateralized stablecoin called HOLLAR. Coin Bureau describes the Omnipool as an AMM design that concentrates liquidity into one shared trading layer rather than splitting it across many isolated pools.
Why Zcash matters for DeFiZcash is a privacy-focused asset, and access to it has been expanding across decentralized venues. In October, cross-chain protocol THORChain said native ZEC swaps were live, letting users swap ZEC for assets such as Bitcoin, Ethereum and stablecoins without wrapped tokens or a centralized custodian. Hydration's launch adds another on-chain venue, this time within Polkadot.
Liquidity will be the key test. Newer ZEC markets elsewhere have started shallow, and THORChain's Zcash pool held just over $50,000 at launch, according to Chainwire. Depth on Hydration's ZEC pairs, and how quickly lending and borrowing markets attract users, will show how much demand exists for privacy assets in Polkadot DeFi.
For Hydration, the integration extends its all-in-one offering of trading, lending and stable-value products. For Zcash, it opens a new route to on-chain use beyond the venues where the token already trades.
SourcesPolkadot DeFi Dapps overview, Polkadot Ecosystem
Top Polkadot Projects in 2026, Coin Bureau
THORChain Launches Native Zcash Swaps, Chainwire
SpaceX ve 3. čtvrtletí vykázala záporný volný peněžní tok ve výši 9,9 mld. USD; kapitálové výdaje mají v dalším čtvrtletí vzrůst z 19,5 mld. USD na zhruba 40 mld. USD.
Space Exploration Technologies (SPCX +1.70%) is perhaps the most ambitious company in history. The rocket launch company that just went public in the largest initial public offering (IPO) ever, raising $85.7 billion in the process, is also trying to tackle artificial intelligence (AI) infrastructure, satellite internet, and even semiconductor fabrication.
SpaceX just reported second-quarter earnings, burning $9.9 billion in free cash flow due to its massive capital spending plans. Management has called for even more aggressive spending in the quarters ahead. Here's what that means for SpaceX's AI business, how long its IPO proceeds will last before it needs to raise more funds, and whether the stock is a buy today.
SPCX Space Exploration Technologies$147.21+$2.46 (+1.70%)
NASDAQ · As of 2:19 PM ET 10/23/26
Fast growth, faster capital spending To take advantage of the opportunity afforded by the AI spending boom, SpaceX has built a data center business, along with its own AI software tools, such as its recent acquisition, Cursor, as well as Grok Bot. It has smartly brought on data centers in a supply crunch, leading big customers like Alphabet and Anthropic to flock to it for contracts.
Last quarter, ending in September, SpaceX's AI infrastructure revenue was $7 billion, up from a measly $359 million a year prior, driven by large contracts signed in 2026. However, to achieve this strong revenue growth, SpaceX is incurring heavy capital expenditures, resulting in a negative free cash flow of $9.9 billion for the period.
Total capital expenditures of $19.5 billion in Q3 are expected to double sequentially to around $40 billion, putting SpaceX's capital spending in the same ballpark as hyperscalers like Microsoft. It is going from a standing start at an extremely aggressive pace to try and become a major player in AI infrastructure, and so far, it is paying off with rapid revenue growth.
SpaceX will eventually need to generate positive free cash flow, as the funds from the IPO will run out within two years at the current burn rate. Management should be able to raise funds if this rapid growth continues, but it is always better to bet on a rock-solid business model that generates positive free cash flow than to hope a company can keep raising capital.
Image source: Getty Images.
A complicated story that needs to be woven together SpaceX's business plan is ambitious and will be difficult to execute. That's not to say it hasn't pulled off miracles before, but this time there is a lot on its plate to achieve positive free cash flow within the next few years.
One, the Starship ayloads to orbit. When it does, SpaceX plans to launch a bunch of new advanced satellites for its Starlink internet service, along with orbital data centers for its AI infrastructure business. It is also working on its own semiconductor manufacturing hub in conjunction with Tesla, another technology giant owned by Elon Musk, with which SpaceX is considering a merger.
All this has Elon Musk betting that SpaceX will achieve annual recurring revenue (ARR) of $500 billion to $1 trillion by the end of 2027, which is barely a year from now. Taking its overall quarterly revenue in Q3, its ARR was $58.3 billion. That means around a 10x increase in its quarterly revenue by Q4 of next year, a goal that is likely not achievable in such a short time frame.
SPCX Free Cash Flow (Quarterly) data by YCharts.
Should you buy SpaceX despite its cash burn? Investors are rewarding SpaceX for burning cash to accelerate revenue growth as it invests in AI data centers. It now has a market cap of $2.15 trillion.
Unless you believe Musk's claims that ARR will reach $500 billion or more by this time next year, SpaceX stock is likely overvalued and very risky to buy, given its heavy cash burn. It currently trades at a price-to-sales ratio (P/S) of 69, which is one of the most expensive sales ratios in the stock market today.
Sure, it is one of the fastest-growing businesses, but who's to say when the AI spending boom will slow down? That would be detrimental to SpaceX's share price.
For all these reasons, it is probably best to avoid buying SpaceX stock right now.
Tesla snížila roční výhled kapitálových výdajů o pětinu; její akcie v následující seanci klesly o 3,08 % navzdory upravenému zisku na akcii (EPS) ve výši 0,48 USD, který překonal odhad 0,4511 USD.
A top Wall Street analyst sees Tesla soaring while the rest of the Street keeps slashing estimates and the stock drifts further below its highs. The case for and against that bullish call comes down to one business that Tesla…
Tesla (NASDAQ:TSLA | TSLA Price Prediction) currently trades at $374.58. The average price target among analysts is $397.83, which implies 6.2% upside.
That consensus gap is small. The headline number comes from the top of the range. Wedbush Securities analyst Dan Ives holds a Street-high $600.00 target, which implies about 60.2% upside, a gap well above 40%. Tigress Financial’s Ivan Feinseth is right behind him at $550.00.
Tesla is valued at about $1.48 trillion. That price reflects an AI and robotics company, but most of the revenue still comes from cars. Its latest quarterly report tested which of those two stories investors believe, and the stock gave a mixed answer.
A Spending Cut Turned Tesla’s Earnings Beat Into a Selloff
The main blow was a surprise cut to capital spending. Tesla cut its annual capital expenditure forecast by a fifth, and shares fell 3.08% in the next session. That came even though adjusted EPS of $0.48 beat the $0.4511 estimate. Direxion’s Ryan Lee put the worry simply: “Lower capex suggests less of an ‘all-in’ approach to the AI arms race than one would expect from Elon.”
The details below were weak. Revenue of $28.05B was essentially flat year over year. GAAP operating income fell to $718M from $1.62B as R&D rose to $2.76B. Battery shortages limited deliveries to 486,532 vehicles, even with the largest order backlog in four years. Analysts have also cut their full-year 2026 EPS consensus to $1.7421, down from $2.1306 90 days ago.
The damage is mostly specific to Tesla. The stock sits 24.9% below its 52-week high of $498.83 and trades under its 200-day moving average of $386.94. The broader market, meanwhile, has kept rising.
Wedbush Is Valuing Tesla as an AI Company
Wedbush’s case is that Tesla is turning from an EV maker into an AI/autonomous software monopoly. The data supports parts of that story. Active FSD subscriptions grew to 1.74M from 1.04M a year earlier. Cybercab has joined the unsupervised Robotaxi fleet in Austin, and total unsupervised miles grew 8x quarter over quarter to nearly 2M.
Ives believes that scaled robotaxi fleets and recurring software revenue could create a $2T+ to $3T ecosystem valuation. He also points to Optimus. Production of the humanoid robot has started on high-volume lines in Fremont, and the Semi has entered volume production in Nevada. Tesla has $45.4B in cash to pay for all of it.
Most of Wall Street is less enthusiastic. Holds are the largest group with 21 ratings. Estimate revisions have mostly gone down, with 4 downward full-year EPS revisions over the past 30 days. Wedbush’s target covers 12 months. At a forward P/E near 159x, Tesla needs every one of those milestones to arrive on time (we reverse-engineered what the biggest tech winners looked like early and turned it into a free playbook you can grab here).
Detroit and Rivian Fell Harder but Offer More Upside
Several peers have posted sharp recent declines.
General Motors (NYSE:GM) lost 7.7% in a week to $77.22. Its average target of $101.22 implies 31.1% upside. No analysts rate GM a Sell, and 13 rate it a Buy.
Ford (NYSE:F) dropped 8.85% over the past month to $11.94. Its target of $15.56 implies 30.3% upside, although Holds (12) are the most common rating.
Rivian (NASDAQ:RIVN) is down 38.81% this year at $12.06. Its $19 target implies 57.5% upside, but analyst opinion is split.
Rivian has the largest consensus upside in the group. Tesla has the smallest. Like every target in this group, these are estimates that can change.
Tesla Is Lagging the S&P 500 This Year
Tesla is down 16.71% year to date, while the S&P 500 has gained 12.03%. Over the past year, Tesla has lost 14.67%, even after a 3.35% gain over the past week. Trailing P/E stands near 358x.
Here is how the 44 analysts covering the stock rate it:
Tesla’s 60% Case Depends on Robotaxis Scaling Quickly
Tesla earns a closer look here if robotaxi service expands well beyond Austin, FSD subscriptions keep growing and battery supply improves enough to work through the backlog. But caution makes sense if the spending cut means Tesla is slowing down its AI plans, or if operating margins stay near 4.6%.
Jim Cramer has highlighted a structural risk, reasoning that a SpaceX listing would cost Tesla its scarcity value, and that the stock could “keep drifting lower until they either make more progress in robo taxis or the core business finally turns around”. Talk of a merger between Tesla and SpaceX makes that risk harder to judge.
I lean conservative. The consensus target says Tesla is about fairly priced already. Getting to Wedbush’s 60% upside would require nearly perfect execution while earnings estimates are still falling. Until robotaxi revenue shows up in the earnings report, consensus targets for Rivian and Detroit imply more upside than Tesla’s.
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Contact [email protected] for any questions or corrections.
American Airlines issued a warning that airfares are likely to remain elevated even if there's a decline in oil prices after losses the carrier suffered earlier in the year amid surging fuel costs.
The carrier's CFO, Devon May, told the Financial Times that "if fuel comes down, I think airfares probably stay largely where they're at right now."
"If fuel prices go up, we need to generate higher yield, we need to generate higher fares to offset that higher fuel price," May said.
American Airlines on Thursday released its earnings for the third quarter, reporting deeper losses in 2026 and updating its forecast to reflect anticipated losses between $1 and $1.60 a share on an adjusted basis this year. Its July forecast ranged from a loss of 65 cents and a profit of 65 cents.
MAJOR AIRLINES CUT FLIGHTS AS HIGHER JET FUEL PRICES HIT CARRIERS
American Airlines projected deeper losses in 2026 due to the surge in fuel costs. (Kevin Carter/Getty Images)
May told the FT that airlines' ticket prices hadn't fully recovered in real terms since the disruptions caused by the COVID-19 pandemic, saying that the price hikes "ideally should have happened back in 2024, but the industry found itself in an oversupply environment."
"This was the first year that everything came together in a way that we were able to push yields back up to where they were seven years ago in real terms," May told the outlet.
AMERICAN AIRLINES ADDS $1,000 TRUMP ACCOUNT MATCH FOR WORKERS' CHILDREN
American Airlines said it expects higher fuel costs to persist into the fourth quarter. (Daniel Slim/AFP via Getty Images)
The company reported a 19% year-over-year increase in third quarter revenue, which was above the high end of its previous guidance range and was the highest in company history when excluding the years following the pandemic.
However, fuel expenses in the third quarter surged 67.5% compared with the same period a year ago, which translated to $1.9 billion in higher fuel costs based on an average price of $3.85 a gallon.
American also forecast higher fuel prices will continue into the company's fourth quarter, with the carrier expecting to face an average fuel price of about $4.70 a gallon – a figure that would nearly double the price in the fourth quarter of 2025 and increase fuel expenses by $2.8 billion year over year.
AMERICAN AIRLINES BETS BIG ON INTERNATIONAL FLIGHTS WITH 7 NEW ROUTES
Ticker Security Last Change Change % AAL NO DATA AVAILABLE - - - Due to the elevated fuel prices, American said that it expects its network growth to slow in 2027 when compared with 2026 levels.
Higher fuel prices have caused airfares to surge, with the most recent data from the Bureau of Labor Statistics showing that airline fares were up 22.4% compared with a year ago in September.
, /PRNewswire/ -- National securities litigation law firm Hagens Berman alerts investors in Bank of America Corporation (NYSE: BAC) to a securities class action lawsuit filed in federal court against Bank of America and certain senior executives alleging violations of federal securities laws. The firm urges investors with substantial losses to submit their trading information.
Class Period: Aug. 1, 2025 – Oct. 13, 2026
Lead Plaintiff Deadline: Dec. 15, 2026
Visit: www.hbsslaw.com/bac
Contact Email: [email protected]
Direct Firm Phone: 844-916-0895
Case Overview & Summary of Allegations
The securities class action lawsuit alleges that throughout the Class Period, Defendants made false and/or misleading statements and failed to disclose material adverse facts regarding Bank of America's compliance controls and regulatory risk exposure. Specifically, Defendants failed to disclose that:
Deficient AML & BSA Compliance Controls: Bank of America maintained deficient Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) monitoring systems, underresourcing compliance functions in favor of revenue generation.
Underreported Suspicious Transactions: The Bank failed to detect, track, or report over $5 billion in suspicious transactions to the Financial Crimes Enforcement Network (FinCEN), including over $1 billion tied to high-risk illicit finance.
Regulatory & Financial Exposure: As a result of these failures, Bank of America faced immense regulatory enforcement actions and multi-billion-dollar penalties, making its prior statements regarding regulatory compliance, risk management, and internal controls materially false and misleading.
The Disclosure & Market Impact
On October 13, 2026, the U.S. Department of the Treasury, FinCEN, and the Office of the Comptroller of the Currency (OCC) announced landmark enforcement actions requiring Bank of America to pay over $1.2 billion in penalties for widespread BSA/AML failures and backlog issues.
Following this disclosure, Bank of America's stock price fell sharply by over 4.8%, closing at $51.39 per share on October 14, 2026, wiping out billions of dollars in market value and causing substantial damages to shareholders.
What Can BAC Investors Do?
If you purchased Bank of America Corporation (NYSE: BAC) shares during the Class Period (August 1, 2025 – October 13, 2026) and suffered losses, you may move the Court to serve as Lead Plaintiff no later than December 15, 2026. A Lead Plaintiff is a representative party acting on behalf of other class members in directing the litigation.
Submit your losses now
Learn More: Visit www.hbsslaw.com or contact Reed Kathrein at (844) 916-0895 or via email at [email protected].
"We're focused on the apparent disparity between the bank's assurances and the Treasury's revelations," said Reed Kathrein, a Hagens Berman partner.
Whistleblowers: Persons with non-public information regarding Bank of America should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
Procter & Gamble zvyšuje dividendu již 70 let po sobě; volné peněžní toky ve fiskálním roce 2026 vzrostly o 8 % na 15,1 mld. USD a pokryly dividendové výplaty ve výši 10,2 mld. USD.
Procter & Gamble (PG -1.97%), one of the world's largest consumer staple companies, has raised its dividend annually for 70 consecutive years. That makes it a Dividend King, an elite company that has raised its payout for at least 50 straight years.
Today, P&G's forward yield of 2.6% might not seem impressive compared to the 10-Year Treasury's 5% yield. But over the past 10 years, P&G delivered a total return of nearly 150% with dividends reinvested. Over the past 30 years, it generated a total return of 1,310%. Let's see why P&G consistently grew and why its resilience will matter during the next market crash.
Image source: Getty Images.
Why is P&G a resilient stock?
Over the past seven decades, the U.S. has experienced ten official recessions. Yet P&G resisted those downturns because it sells essential household and personal care products.
P&G shrunk its portfolio from around 180 brands in 2014 to 65 today. Roughly 20 of those brands -- including Tide, Downy, Dawn, Cascade, Pampers, Luvs, Tampax, Bounty, Charmin, Head & Shoulders, Pantene, Olay, SK-II, Crest, Oral-B, Vicks, Pepto-Bismol, and Gillette -- generate more than $1 billion in annual sales.
$161.26-$3.24 (-1.97%)
NYSE · As of 2:12 PM ET 10/23/26
By streamlining its business and focusing on those higher-growth brands, P&G steadily grew its organic sales and core EPS. But over its past few fiscal years (which ended in July of each calendar year), its top- and bottom-line growth cooled off.
Period
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
Organic Sales Growth
7%
7%
4%
2%
1%
Core EPS Growth
3%
2%
12%
4%
1%
Data source: P&G. (Fiscal year ends in July of the calendar year)
Like many of its industry peers, P&G attributed that slowdown to inflationary headwinds for consumer spending. It's raised its prices to offset slowing volume, but it still struggled to grow in China and North America as macro headwinds intensified.
However, P&G's free cash flow (FCF) still grew 8% to $15.1 billion in fiscal 2026 and easily covered its $10.2 billion in dividend payments. It spent another $5.0 billion on share buybacks during the year, returning over 100% of its FCF to its investors.
For fiscal 2027, P&G expects its organic sales to rise 1%-3% and its core EPS to grow 0%-3%. It plans to pay out over $10 billion in dividends and spend another $5 billion on buybacks. That stabilization should be driven by additional price hikes, the premiumization of its classic brands (Pampers, Pantene, Tide, and Gain), and its growth in China and Latin America.
At $160, P&G trades at 23 times the midpoint of its core EPS forecast for fiscal 2027. That multiple is a bit high relative to its growth potential, but it could maintain that premium valuation as long as rising rates and yields drive investors toward defensive stocks. It should also easily recover from the next market crash.
Altria sends nearly all of its earnings straight to shareholders, leaving almost nothing in reserve, yet the board just approved another dividend raise. Understanding what keeps that math from falling apart reveals everything about whether the 5.68% yield holds or…
Altria (NYSE:MO | MO Price Prediction) pays out 89.3% of its earnings as dividends. That payout ratio is simple math: dividends per share divided by earnings per share. It’s also the clearest way to see how Altria works today. The stock trades at $76.07, up 38.33% year to date, and yields 5.68%. The payout ratio shows how much of that income depends on a cigarette business that keeps shrinking.
Why This Number Tells You More Than the Headlines
The reported numbers say Altria is still growing. Adjusted diluted EPS rose 2.8% to $1.48 in the second quarter, and 2026 guidance calls for $5.61 to $5.72. The payout ratio shows how much cash remains after the dividend is paid. At 89.3%, the answer is very little. On the July 30 call, CFO Heather Newman said, “Historically, after we have the dividend, we have about $1 billion excess in cash.” That leftover cash has to pay for buybacks, debt maturities, and smoke-free products like on! PLUS and the Horizon heated tobacco joint venture.
Here’s an unusual detail: Altria’s book value per share is -$1.598. For years, Altria has sent more money to shareholders through dividends and buybacks than it kept as earnings. It returned about $8 billion in 2025 alone. That practice wiped out shareholder equity, which stood at -$2.6B in Q2. In plain terms, the company’s balance sheet shows more liabilities than assets. Altria continues to rely on steady cash flow and borrowing, with debt-to-EBITDA at 1.9x.
Where the Ratio Stands After the Latest Raise
The board raised the quarterly dividend to $1.11 from $1.06, a 4.7% increase. The new annualized rate is $4.44. Against 2026 adjusted EPS guidance, that rate works out to about 78% to 79% of adjusted earnings. The higher 89.3% figure shows how much one-time charges, like the $2.2B NJOY impairment in 2025, can eat into the buffer. Management targets mid-single-digit dividend growth through 2028, about the same pace as its 3.5% to 5.5% EPS growth outlook. So the ratio should hold roughly steady rather than fall.
What Bulls and Bears Should Track Next
Bearish: Domestic cigarette shipments fell 3.2% in Q2 after a 10.0% drop in 2025. Marlboro’s retail share slid to 39.5% while discount brands rose to 33.8%. Higher prices are carrying the business, with Marlboro’s retail price up about 7%. If smokers push back on those prices, EPS will miss guidance and the payout ratio will rise.
Bullish: Industry cigarette declines have slowed for the fourth consecutive quarter. on! Retail share rose 0.8 share points from the prior quarter to 8.6%. PLUS now reaches 120,000 stores, and contract-manufactured export volume jumped 54.9%.
Verdict on the 5.68% Yield
The 5.68% yield looks sustainable for now because adjusted earnings still cover it with room to spare. Still, an 89.3% payout ratio means Altria can grow its dividend only as long as Marlboro keeps its pricing power.
Contact [email protected] for any questions or corrections.
Like a losing game of tic-tac-toe, GE Aerospace (GE -1.93%) stock has fallen three days in a row since reporting earnings Tuesday. Today's 2.5% decline (as of 11:40 a.m. ET) brings GE stock to nearly a 9% loss this week.
But why?
Image source: Getty Images.
GE Aerospace Q3 earningsGE Aerospace's news this week wasn't bad. The company reported $2.25 per share in earnings on $13.3 billion in sales, beating analyst forecasts on both the top and bottom lines. Revenue rose 16% year over year as commercial airplane engine sales boomed. Operating profit on those sales soared 30% year over year, hitting $3 billion.
Best of all, GE Aerospace reported 49% growth in new orders, giving it a 1.35 book-to-bill ratio and implying sales and profits are still rising.
$287.89-$5.65 (-1.93%)
NYSE · As of 2:15 PM ET 10/23/26
Wall Street worriesDespite all this good news, Bernstein SocGen Group analyst Douglas Harned just lowered his price target on GE Aerospace stock.
Mind you, the analyst still likes GE stock, says there's "strong demand" for GE engines, and recommends buying it. However, as the Iran war drags on, rising jet fuel prices are weighing on airline profits and threaten to cut short the rally. For this reason, Harned is pulling back on his target for GE stock and lowering it to $376.
I agree with the sentiment, but... I worry that Wall Street isn't worrying enough about this risk.
Consider that, based on GE's latest forecast of $9.1 billion in 2026 free cash flow, the stock currently trades at more than 36 times current-year FCF. Most analysts forecast profits to grow by less than 18% per year over the next five years -- which already looks expensive.
If Bernstein is right about high fuel prices hurting jet engine sales, GE's stock could be even more expensive than it looks. Caveat investor.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends GE Aerospace. The Motley Fool has a disclosure policy.
Cincinnati Financial vyplácí čtvrtletní dividendu ve výši 0,94 USD na akcii s dividendovým výnosem 2,11 %; anualizovaná dividenda činí 3,76 USD a meziročně vzrostla o 8 %.
Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
Based in Fairfield, Cincinnati Financial (CINF - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 9.16%. The insurer is currently shelling out a dividend of $0.94 per share, with a dividend yield of 2.11%. This compares to the Insurance - Property and Casualty industry's yield of 0.88% and the S&P 500's yield of 1.33%.
Looking at dividend growth, the company's current annualized dividend of $3.76 is up 8% from last year. Over the last 5 years, Cincinnati Financial has increased its dividend 5 times on a year-over-year basis for an average annual increase of 8.39%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Cincinnati Financial's current payout ratio is 39%, meaning it paid out 39% of its trailing 12-month EPS as dividend.
Earnings growth looks solid for CINF for this fiscal year. The Zacks Consensus Estimate for 2026 is $8.44 per share, representing a year-over-year earnings growth rate of 6.16%.
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. But, not every company offers a quarterly payout.
For instance, it's a rare occurrence when a tech start-up or big growth business offers its shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. During periods of rising interest rates, income investors must be mindful that high-yielding stocks tend to struggle. With that in mind, CINF presents a compelling investment opportunity; it's not only an attractive dividend play, but the stock also boasts a strong Zacks Rank of #2 (Buy).
Adobe ve třetím fiskálním čtvrtletí zvýšila tržby o 12,9 % na 6,76 mld. USD a její non-GAAP zisk na akcii (EPS) dosáhl 6,13 USD, čímž překonala odhady analytiků.
Adobe keeps beating earnings estimates while the stock keeps sliding, and that contradiction has split Wall Street into two very different camps with very different price targets.
The 24/7 Wall St. price target for Adobe (NASDAQ:ADBE | ADBE Price Prediction) is $298.13 over the next 12 months. That means 16.4% upside from the current $256.13. The stock earns a buy rating with high confidence.
Metric Value Current Price $256.13 Price Target from 24/7 Wall St. $298.13 Upside/Downside 16.4% Recommendation BUY Confidence Level 90% Adobe keeps beating estimates while the stock keeps falling, and that gap defines the valuation debate. Shares trade at a forward P/E of 9, which looks cheap for a business that just raised guidance.
Several turnaround catalysts are already on the calendar: a new CEO takes over December 1, Adobe MAX arrives in November, and AI-first ARR is growing more than 150%.
Record Quarters Have Not Stopped the Slide Adobe is down 26.75% year to date and sits well below its 52-week high of $363.70, though it has climbed off the $190.12 low. Momentum has turned recently, with shares up 8.51% over the past week and 3% over the past month.
In fiscal Q3, revenue came in at $6.76 billion, up 12.9% and ahead of the $6.70 billion consensus. Non-GAAP EPS of $6.13 topped the $6.09 estimate, making it the fifth beat in a row.
Jim Cramer summed up the problem in June: the stock traded at “just 8.5 times” earnings as concerns grew that AI will replace software.
Why Bulls See $328 and Beyond Adobe now has more than 1 billion monthly active users, and Firefly ending ARR grew 40% quarter over quarter. The pending Topaz Labs deal adds AI video enhancement.
Buybacks also help, with about $24.55 billion left on the current authorization. Incoming CEO Anil Chakravarthy sees “a massive opportunity for us to be the agentic software leader.” In our bull case, shares reach $328.71.
What Could Keep Adobe Stuck Investors remain wary. Of the analysts covering Adobe, 23 rate it a hold, and the consensus target is $272.31. Analysts on the Q3 call noted that net new ARR fell 36% to 37%. Management’s explanation is that it deliberately sent users into the freemium model and delayed price increases.
The trade-off is reasonable, but it needs to start showing up as revenue. A CFO exit and the CEO transition add execution risk. In our bear case, the stock sits flat at $256.44.
Adobe Trades at Half the Multiple of Microsoft and Salesforce Microsoft (NASDAQ:MSFT) competes with Acrobat and Express through Copilot. Shares trade at 30 times earnings, supported by 43% Azure growth.
Salesforce (NYSE:CRM) competes with Adobe’s Experience Cloud and is growing more slowly, yet it still trades at 27 times earnings.
Company P/E (TTM) Latest Quarterly Revenue Growth Adobe 14 12.9% Microsoft 30 17.75% Salesforce 27 10.83% Even at our target, Adobe would trade at about 11 times forward earnings. Compared with these peers, the 24/7 Wall St. price target looks conservative.
Discount Outweighs Doubt The 24/7 Wall St. price target of $298.13 comes with a buy rating and high confidence.
Valuation is the key factor: double-digit growth at a single-digit forward multiple. The case gets stronger if MAX and the CEO transition show freemium users turning into paying ARR. It weakens if net new ARR keeps contracting into 2027.
Year Price Target from 24/7 Wall St. 2026 $264.13 2027 $298.13 2028 $333.05 2029 $370.90 2030 $388.35 Adobe is expected to keep executing on its current strategy. Faster AI monetization could push the stock higher, while AI tools from competitors could cut into these numbers.
Contact [email protected] for any questions or corrections.
American Express propustí 5 % z přibližně 77 000 zaměstnanců kvůli automatizaci procesů pomocí AI a zaúčtuje náklady na restrukturalizaci ve výši 336 milionů USD.
American Express is slashing 5% of its workforce as the credit card giant prepares to automate some of its internal processes using AI – the latest tech-driven layoffs to hit the financial sector.
The company on Friday announced a $336 million restructuring charge as part of the layoffs, which will impact thousands of the firm’s roughly 77,000 workers.
Christophe Le Caillec, the firm’s chief financial officer, told CNBC after the firm reported its third-quarter earnings that the reorganization will make American Express “leaner, more agile, and also [able] to prepare for AI.”
American Express CEO Stephen Squeri speaks during an event in New York on Nov. 10, 2022. Bloomberg via Getty Images
“You don’t want to automate processes that are not optimally structured,” he added. “So what we’re doing here is to reduce layers and increase spans of controls, so that we can automate and take advantage of AI in the coming quarters and the coming years.”
Shares of American Express slid 3.8% by about 1 p.m. ET as investors took the layoffs as the latest example of AI’s potential to eliminate jobs.
British lender Barclays on Thursday announced 5,000 planned job cuts in its own AI push.
So far this year through September, AI has been cited in more than 120,000 job cut announcements, according to data from Challenger, Gray & Christmas.
The financial sector and other white-collar professions have been among those most impacted by the new tech.
Despite record-low consumer sentiment readings and stubbornly high inflation, American Express reported a rise in profits as shoppers – especially wealthier ones – have shrugged off sky-high prices and continued to spend.
But during a post-earnings call Friday, CEO Stephen Squeri said the AI push and layoffs were necessary to improve efficiency and prepare for the future.
The company announced planned job cuts that will impact thousands of workers. JHVEPhoto – stock.adobe.com
“We’ve got good momentum, but to accelerate innovation and win over the next few years, we needed to become [a] more agile and efficient organization,” he said.
He added that the company will use AI to personalize customer experiences and offers, but assured investors that American Express is “not going to let assistants run rogue through our system.”
Tech giants have reported a slew of concerning incidents in which AI agents broke out of their restraints or turned off safety systems.
Industry leaders like Anthropic CEO Dario Amodei and OpenAI’s Sam Altman have called for more regulations and a development pause after a researcher last month sounded the alarm over the potential for AI to wipe out the human race.
The credit card giant also reported strong earnings. REUTERS
“We need to protect our customers [and] merchants, and we’re only going to allow agents to access our systems that are either approved through API or MCP channels,” Squeri said, referencing two external security systems.
On Friday, the credit card company reported adjusted earnings per share of $4.68 – beating expectations of $4.48.
Revenue jumped 9% to $20.06 billion, slightly missing estimates of $20.12 billion.
American Express also hiked its full-year earnings forecast to $18.30 to $18.60 a share, up from a previous range of $17.30 to $17.90.
Its sale of the company’s stake in Global Business Travel Group helped boost its earnings prediction, according to Le Caillec.
Welltower by měl ve třetím čtvrtletí vykázat tržby ve výši 3,63 mld. USD, což představuje meziroční nárůst o 35 %, a normalizované FFO ve výši 1,64 USD na akcii, meziročně o 22,4 % více.
Key Takeaways WELL is set to report Q3 results Oct. 26, with year-over-year revenue and normalized FFO growth expected.Senior housing demand and muted new supply may support WELL, while long-term leases aid stable revenues.Q3 revenue is pegged at $3.63 billion, up 35%, and normalized FFO per share at $1.64, up 22.4% Y/Y. Welltower, Inc. (WELL - Free Report) is slated to report third-quarter 2026 results on Oct. 26, after market close. The quarterly results are likely to reflect year-over-year growth in revenues and normalized funds from operations (FFO) per share.
In the last reported quarter, this Toledo, OH-based healthcare real estate investment trust (REIT) witnessed a normalized FFO per share of $1.60, beating the Zacks Consensus Estimate of $1.55. Results reflected a rise in revenues on a year-over-year basis. The total portfolio same-store net operating income (SSNOI) increased year over year, driven by SSNOI growth in the senior housing operating (SHO) portfolio.
Over the preceding four quarters, Welltower’s normalized FFO per share beat the Zacks Consensus Estimate on all occasions, with the average beat being 2.1%. The graph below depicts this surprising history:
Factors at Play for WELLWelltower owns a diversified healthcare real estate portfolio across the major markets in the United States, Canada and the U. K. During the third quarter, the company’s SHO portfolio is likely to have continued to benefit from strong demand driven by the aging U.S. population. This demographic tailwind, coupled with muted new seniors-housing supply, is expected to have provided a favorable operating environment for this portfolio.
Further, Welltower’s long-term leases with its healthcare management companies or operators are anticipated to have led to stable revenue generation, boosting its top line.
The Zacks Consensus Estimate for quarterly total revenues is pegged at $3.63 billion, suggesting an increase of 35% from the prior-year period’s reported number.
We expect WELL to have continued its investment and development activities during the to-be-reported quarter, supported by its solid balance sheet position and capital-recycling efforts.
WELL’s activities during the to-be-reported quarter were adequate to garner analysts’ confidence. The Zacks Consensus Estimate for third-quarter normalized FFO per share has been revised 2 cents upward to $1.64 over the past three months. The figure suggests an increase of 22.4% from the year-ago reported number.
However, high interest expenses are likely to have been a spoilsport for Welltower during the to-be-reported quarter.
What Our Quantitative Model Predicts for WELLOur proven model predicts a likely surprise in terms of FFO per share for Welltower this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is the case here.
Welltower currently has an Earnings ESP of +0.30% and carries a Zacks Rank of 2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks That Warrant a LookHere are two stocks from the broader REIT industry — BXP, Inc. (BXP - Free Report) and Ventas (VTR - Free Report) — that you may want to consider, as our model shows that these have the right combination of elements to report a surprise this quarter.
BXP is scheduled to report third-quarter 2026 results on Oct. 27. The company has an Earnings ESP of +0.04% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Ventas is slated to report third-quarter 2026 results on Oct. 27. VTR has an Earnings ESP of +0.70% and a Zacks Rank of #3 at present.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Očekává se, že MGM Resorts ve 3. čtvrtletí vykáže EPS ve výši 13 centů, což by znamenalo meziroční pokles o 45,8 %, při tržbách ve výši téměř 4,25 miliardy USD.
Key Takeaways MGM Resorts is set to report Q3 earnings on Oct. 28, with EPS expected to fall 45.8% to 13 cents.Strong group bookings, premium gaming and entertainment events are likely to boost MGM's Las Vegas results.MGM's digital revenues are projected to rise to $207M, while regional revenues may decline to $870M.
MGM Resorts International (MGM - Free Report) is scheduled to report third-quarter 2026 results on Oct. 28, after the closing bell.
MGM’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed on one occasion, the average surprise being 24%.
Trend in Estimate Revision of MGMThe Zacks Consensus Estimate for third-quarter earnings per share (EPS) is pegged at 13 cents, indicating a deterioration of 45.8% from 24 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $4.25 billion, suggesting growth of 0.1% from the prior-year quarter’s figure.
Let's look at how things have shaped up in the quarter.
Factors Likely to Shape MGM Resorts’ Quarterly ResultsMGM Resorts' third-quarter performance is likely to have benefited from continued momentum across its Las Vegas Strip Resorts, supported by group and convention bookings, premium gaming demand and an expanded entertainment calendar. Management highlighted a favorable group booking environment entering the quarter, alongside a larger calendar of sports and entertainment events compared with the year-ago period. These factors are expected to have supported casino activity, hotel demand and non-gaming spending.
The company's Las Vegas Strip Resorts are likely to have benefited from the recovery at MGM Grand, supported by renovated room inventory and favorable gaming trends. Continued demand for premium gaming experiences and investments in luxury offerings are expected to have aided performance. Management also highlighted encouraging trends in high-end customer spending, which may have supported gaming revenues and overall profitability in the quarter under review. The Zacks Consensus Estimate for third-quarter Las Vegas Strip revenues is pegged at $1.99 billion, compared with $1.98 billion reported in the prior-year quarter. Segment-adjusted property EBITDA is projected at $582 million, down from $601 million reported in the year-ago quarter.
MGM China's third-quarter performance is likely to have benefited from a recovery in gaming volumes following the temporary disruption caused by the World Cup in June. Continued investments in premium gaming facilities, renovated suites and luxury hospitality offerings are expected to have supported customer engagement and gaming activity. The recently upgraded suites at MGM Cotai and expanded premium gaming areas may also have strengthened the company's competitive position in Macao. However, higher intercompany branding fees may have weighed on segment profitability. MGM China’s adjusted property EBITDA is projected at $254 million, down from $284 million in the prior-year quarter.
Digital operations are likely to have supported revenue growth, driven by the launch of MGM Digital's proprietary sportsbook in Sweden and growing traction for BetMGM-branded offerings internationally. Encouraging trends in first-time deposits, active players and net gaming revenues in Brazil may also have aided performance. The consensus estimate for digital revenues is pegged at $207 million, up from $174 million a year ago.
However, softness in lower-end leisure demand may have weighed on Las Vegas hotel performance. Management acknowledged continued demand challenges at Luxor and Excalibur, despite some stabilization from value-oriented packages. Subdued international visitation, cautious spending among value-conscious consumers and seasonal fluctuations in leisure demand may also have constrained hotel revenues and gaming activity. Regional Operations' performance is likely to have reflected continued benefits from targeted capital investments and premium gaming upgrades. However, the absence of contributions from Northfield Park following its divestiture may have weighed on reported revenues and profitability. The consensus estimate for regional revenues is pegged at $870 million, down from $957 million reported in the prior-year quarter, while adjusted property EBITDA is expected to decline to $253 million from $296 million.
What Our Model Says About MGM StockOur proven model does not conclusively predict an earnings beat for MGM Resorts this time around. The company does not have the right combination of the two key ingredients, a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), to increase the odds of an earnings beat.
MGM’s Earnings ESP: MGM Resorts has an Earnings ESP of -22.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
MGM’s Zacks Rank: The company currently has a Zacks Rank #5 (Strong Sell).
Stocks Poised to Beat on EarningsHere are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Cinemark Holdings, Inc. (CNK - Free Report) currently has an Earnings ESP of +4.49% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cinemark’s earnings for the to-be-reported quarter are expected to increase 127.5%. CNK reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average miss being negative 11.4%.
Rush Street Interactive, Inc. (RSI - Free Report) currently has an Earnings ESP of +2.44% and a Zacks Rank of 2.
RSI’s earnings for the to-be-reported quarter are expected to increase 55.6%. Rush Street Interactive reported better-than-expected earnings in the trailing two out of four quarters, missed estimates once and reported in line once, with the average surprise being 6.3%.
Marriott Vacations Worldwide Corporation (VAC - Free Report) has an Earnings ESP of +10.02% and a Zacks Rank of 3 at present.
Marriott Vacations is expected to register a 45% increase in earnings for the to-be-reported quarter. VAC reported better-than-expected earnings in the trailing three out of four quarters and missed once, with the average surprise being 1.3%.
Edge cloud is splitting from the GPU crowd in today's trading, and one name is pulling so far ahead of its own sector fund that traders are asking whether a single partnership deal just rewrote the growth story.
Edge delivery is setting the pace in the cloud software rebound, and one specialist is pulling well ahead of the group. Fastly (NASDAQ:FSLY) stock is at $24.18, up 8% in afternoon trading. This gain ranks among the strongest performances in the cloud group.
Sector-wide gains are far smaller, which makes the jump in Fastly stock stand out even more. The First Trust Cloud Computing ETF (NASDAQ:SKYY) is trading at $167.36, up 2%. On the broad-market side, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is at $762.42, down 0.2%. Cloud buyers aren’t getting any help from the overall market.
Meanwhile, Nebius Group (NASDAQ:NBIS | NBIS Price Prediction) stock is at $161.31, up 1%, a gain that trails Fastly stock by a wide margin. CoreWeave (NASDAQ:CRWV) stock is trading at $54.85, down 1%, moving opposite both Fastly stock and the cloud fund. That split puts Nebius and CoreWeave on opposite sides of a rebound that Fastly stock is leading.
Edge Cloud Leads the Software Bounce
Cloud software stocks are rebounding, and Fastly is posting one of the larger gains in the group. The company runs an edge cloud network that delivers and secures web content close to users, with product lines spanning network services, security, compute, and observability. Nebius and CoreWeave sit in a different corner of the market, renting out graphics processor computing capacity to customers running AI workloads.
Earlier this month, Fastly expanded its partnership with Jio Platforms to power the upgraded JioCDN content delivery network across India. Under the arrangement, Fastly’s programmable edge cloud runs on Jio’s 5G and fixed broadband network, which gives the platform a carrier-scale distribution path. Any link between that agreement and the stock’s jump is still an open question, since the deal came before the current session.
GPU Cloud Names Split From Fastly
Fastly stock is far outpacing the cloud computing fund, and its lead over the GPU providers is wider still, which keeps the spotlight on Fastly’s edge business, a model tied to how much web traffic flows across its network.
Edge positioning gives Fastly a direct line to the rise in machine-generated traffic, a corner of the market where GPU rental plays no part. Company disclosures describe AI traffic as reshaping the internet and lifting demand for tools such as bot management and distributed denial-of-service protection. Reddit, Universal Music Group, and SeatGeek are among the brands already running on Fastly’s platform.
Optimists see that shift in traffic turning into wider adoption of Fastly’s security and compute products, but skeptics counter that a sharp one-session jump can fade quickly when the broad market is slipping and the stock has already outrun its sector fund. Steady demand for AI computing capacity supports the optimism. For Nebius and CoreWeave, the heavy spending needed for that expansion keeps a lid on it (we covered seven suppliers riding that same AI expansion, from power to networking, in a free report).
Jio Deal Sets Up Fastly’s Next Report
Fastly’s upcoming quarterly report will show whether the expanded Jio partnership shows up. Shareholders can watch for whether management puts specific figures behind the JioCDN launch and the India traffic it carries. Hard evidence of that contribution is what would turn a sharp rally into a story grounded in results.
Running this far ahead of both the SKYY cloud fund and the SPY ETF leaves Fastly stock with little buffer if the cloud rebound cools off. Traders may prefer to keep their exposure small until Fastly’s next quarterly report is released.
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General Mills v 1. čtvrtletí fiskálního roku 2027 překonal odhady analytiků: upravený zisk činil 75 centů na akcii a tržby dosáhly 4 389,5 milionu USD, přesto meziročně klesly.
A month has gone by since the last earnings report for General Mills (GIS - Free Report) . Shares have added about 1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is General Mills due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
General Mills Q1 Earnings Beat Estimates on Pricing and Mix BenefitsGeneral Mills reported first-quarter fiscal 2027 results, wherein both top and bottom lines beat the Zacks Consensus Estimate. However, both metrics declined year over year. The company posted adjusted earnings of 75 cents per share, down 13% year over year in constant currency but above the Zacks Consensus Estimate of 72 cents. Quarterly profitability was pressured by higher input costs and lower volume, partly offset by favorable net price realization and mix.
Net sales declined 3% year over year to $4,389.5 million, but topped the consensus estimate of $4,344 million. Organic net sales were essentially flat from the prior-year period. Adjusted gross margin contracted 90 basis points to 33.3% of net sales. Higher input costs drove the decline, while favorable net price realization and mix provided a partial offset. We expected an adjusted gross margin of 33.8%.
Adjusted operating profit fell 11% in constant currency to $634 million, and adjusted operating margin declined 130 basis points to 14.4%. We expected an adjusted operating margin of 14.3% for the quarter.
Decoding GIS’ Segmental PerformanceNorth America Retail sales declined 7% year over year to $2,451.8 million, including a 4-point headwind from the U.S. yogurt divestiture. Sales fell at a double-digit rate in Big G Cereal & Canada, including the divestiture impact, declined at a mid-single-digit rate in U.S. Snacks and were flat in U.S. Meals & Baking Solutions. Organic net sales decreased 3% and trailed Nielsen-measured retail sales by about 1 point due to changes in retailer inventory. Retail sales growth improved sequentially by 2 points, while dollar-share trends strengthened across most priority categories.
North America Pet sales were essentially flat at $612.8 million. Cat food sales increased at a double-digit rate and pet treats grew at a low-single-digit rate, while dog food sales declined at a high-single-digit rate. Organic net sales were flat and exceeded all-channel retail sales growth by about 1 point, aided by an extra month of Whitebridge Pet Brands results following the alignment of its calendar with General Mills' August fiscal quarter end.
North America Foodservice sales increased 1% to $523.1 million despite a 2-point headwind from the U.S. yogurt divestiture. Organic net sales advanced 4%, led by growth in cereal and frozen meals. The segment held or gained market share across all of its priority businesses.
International sales grew 4% to $794.3 million, including a 1-point benefit from foreign currency exchange. Organic net sales also increased 4%, driven by growth in distributor markets, India and China.
GIS Reaffirms Fiscal 2027 OutlookGeneral Mills reaffirmed fiscal 2027 organic net sales growth of down 1.5% to up 0.5%. Adjusted operating profit is expected to be down 8-13% in constant currency, while adjusted earnings are projected at $3-$3.20 per share. Free cash flow conversion is expected to be approximately 95% of adjusted after-tax earnings.
The company continues to target at least $750 million of savings from Holistic Margin Management, its global transformation initiative and other cost actions. It also expects roughly 9 points of operating-profit headwind and 11 points of earnings-per-share headwind from lapping the 53rd week, normalizing incentive expense and fiscal 2026 divestitures. The net impact of divestitures, foreign exchange and the 53rd week is expected to reduce reported sales growth by about 4%.
How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended downward during the past month.
VGM ScoresAt this time, General Mills has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, General Mills has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Gilead Sciences uzavřela s Texasem mimosoudní vyrovnání ve výši 45 milionů USD kvůli tvrzením, že nelegálními pobídkami ovlivňovala lékaře k předepisování svých léků, čímž zatěžovala program Medicaid.
Litigation sought reimbursements for violations of state law in prescribing practices, charges to Medicaid program
HOUSTON--(BUSINESS WIRE)--Building on decades of holding pharmaceutical companies responsible for dangerous products and unlawful business practices, The Lanier Law Firm played a pivotal role supporting Texas Attorney General Ken Paxton in securing a $45 million settlement with Gilead Sciences, Inc. Announced on Oct. 22, the settlement resolves claims that the company offered illegal incentives to medical providers to prescribe its drugs over competitors’ medications.
In many cases, these prescriptions resulted in millions of dollars in claims submitted to Texas Medicaid in violation of the Texas Health Care Program Fraud Prevention Act. As outlined in the lawsuit, Gilead allegedly offered other incentives such as “free nurses” and reimbursement support services to further influence medical providers to prescribe the company’s products.
In the litigation initially filed in 2023, the firm’s Mark Lanier, Zeke DeRose, Jonathan Wilkerson and Alex Brown represented Health Choice Advocates, whose mission is to investigate and bring Medicaid fraud litigation against major pharmaceutical companies. Attorneys with the firm of McKool Smith PC served as co-counsel for the non-profit company.
“As we’ve seen in many other cases, Big Pharma is often motivated by corporate profits rather than what is best and safest for patients, and what is in compliance with the law,” says Mr. Lanier. “We are proud to stand with the State of Texas in exposing this kickback scheme and prevent further abuse of taxpayer funds and the Medicaid program.”
The firm is also supporting ongoing and separate litigation brought by the Attorney General against Bristol-Myers Squibb Co., Novartis and Eli Lilly and Company for similar claims of unlawful prescribing practices and fraud.
About the Lanier Law Firm
For more than 30 years, the men and women at The Lanier Law Firm have worked tirelessly, throughout the United States, to find unique and effective solutions for their clients. More than 60 skilled attorneys practice law in a broad array of areas, including business litigation, pharmaceutical litigation, asbestos exposure, oil and gas litigation, personal injury as well as defective and dangerous products, among others. Named an Elite Trial Law Firm by The National Law Journal, The Lanier Law Firm has offices in Houston, New York, Fort Worth and Los Angeles. To learn more, visit http://www.lanierlawfirm.com.
Palantir trades near all-time highs while Wall Street sees almost no room left to run, yet one number looming on the 2027 horizon suggests analysts may be thinking far too small.
Palantir Technologies (NASDAQ:PLTR | PLTR Price Prediction) has grown into the operating system that both the Pentagon and corporate America use for AI. Gotham handles government work, Foundry runs commercial data, and AIP turns large language models into working agents.
Chief executive Alex Karp summed up the second quarter this way: “Demand for AI sovereignty has now been unleashed.”
The stock is up 12.17% year to date at $199.38. It has climbed 87% from its 52-week low of $106.37. The number I’m watching for 2027 is $300, and several catalysts could get Palantir there.
Wall Street Sees Little Upside, but Estimates Keep Rising
The consensus price target is $206.43, which implies only 3.5% upside. Analysts are split, with 19 Buy ratings against 9 Holds. Valuation explains the caution better than the fundamentals do.
For 2027, analysts expect revenue of $12.33 billion, up 50%. They see EPS of $2.3505, up 45%. Ninety days ago, the 2027 EPS forecast was $2.0945, so it has risen 12% since then.
Here’s the Math Behind a $300 Palantir
Today Palantir trades at about 85x estimated 2027 earnings. At $300, that multiple would rise to roughly 128x. That’s steep, but Palantir’s Rule of 40 score is 155% and its adjusted operating margin is 62%.
Few software companies have combined growth and profitability at this level. If 2027 earnings come in above forecasts, the multiple needed at $300 shrinks.
How might Palantir reach $300?
A long beat streak: Palantir has topped estimates for 10 straight quarters. In Q2, EPS of $0.41 beat the estimate by 46.43%.
Karp’s stretch goal: Karp said he is “driving the business to grow at a rate equal or above to what we have in U.S. commercial for the next 18 months.” U.S. commercial revenue grew 149% in Q2.
Backlog: Remaining deal value reached $13.1 billion, up 83%. Net dollar retention hit 157%.
Defense spending: The FY2027 Department of War budget request includes $46 billion for a sovereign AI toolkit. It also sets aside $2.3 billion for the Maven Smart System, a program Palantir already supports.
Palantir’s History Says 50% Gains Are Within Reach
Reaching $300 requires a gain of about 50%. Palantir has passed that bar several times. Shares rose 167% in 2023, 340% in 2024, and 135% in 2025.
Volatility cuts both ways, though. In 2022, the stock fell 65%. Its beta of 1.602 means a market pullback would hit Palantir harder than most stocks.
$300 Is a Stretch, but Here’s Why It’s Possible
Removing $300 means a gain of about 50%, far above what Wall Street’s target implies. Even so, the business is speeding up. Full-year 2026 revenue guidance calls for 82% growth, estimates are still climbing, and Palantir keeps beating them.
The main risks are the stock’s high valuation and its heavy reliance on U.S. customers. If AIP keeps converting pilot programs into large contracts and defense AI budgets come through, $300 is a reachable goal.
The traits that showed up early in past monster tech runs are the ones we cataloged in a free playbook on spotting the next Nvidia. Returns like this come unevenly from year to year, and this is the path for Palantir to post another outsized gain in 2027.
Contact [email protected] for any questions or corrections.
Every AI chip, every smartphone processor, and every data center upgrade has to pass through the same tollbooth. Here is why one investor keeps buying that tollbooth without apology, and why the geopolitical risk around it changes the math less…
Every time I have extra cash, I buy more Taiwan Semiconductor Manufacturing (NYSE:TSM | TSM Price Prediction). I have stopped apologizing for it. My thesis fits in one sentence. Within five years, TSMC will work like a utility for global computing: a toll road that AI accelerators, smartphone processors and data center chips have to use, and it pays shareholders for every trip.
Why Every AI Player Pays the Toll On the third-quarter call, management said it plainly: “all the AI players are working with TSMC.” Chips at 7nm and below made up 79% of wafer revenue. Production at 2nm grew from 3% of wafer revenue in Q2 to 8% in Q3. High-performance computing now brings in 68% of revenue. The company also says “demand is still far above our capability to supply today.” I look for exactly that in a utility: a broad customer base (534 customers and 12,682 products in 2025) that keeps asking for more capacity than the company can build.
Receipts Behind My Buying Start with growth. Third-quarter revenue reached $46.72 billion, up 41.2% YoY in USD terms. Management raised its full-year 2026 outlook to around 44% growth. Its Q4 guidance of $52.3 billion to $54.3 billion works out to 58% year-over-year growth at the midpoint.
Next comes profitability. Gross margin came in at 66.4%, operating margin at 58.7% and ROE at 45.5%. EPS per ADR of $4.60 beat the $4.46 consensus.
Then there is income. The quarter produced $14.90 billion in free cash flow, and the company holds $126 billion in cash and marketable securities. The quarterly dividend rose from NT$6.00 to NT$7.00, and management says it is committed to a “sustainable and steadily increasing cash dividend per share.” Over the past ten years, the shares have returned 1543.82%.
Why My Money Skips Intel and GlobalFoundries There’s real momentum at Intel (NASDAQ:INTC). Even so, its foundry unit posted a $2.1 billion quarterly operating loss, its Q2 GAAP net loss came to $11.03 billion (mostly from a non-cash charge), and its dividend yield is 0. For a retirement account, I want income today. Specialty processes are the focus at GlobalFoundries (NASDAQ:GFS). Its Q2 revenue grew 5.81% at a 28.3% gross margin. TSMC’s margins and growth rate are both far higher.
Risk I Refuse to Ignore Taiwan is the risk that could hurt this position. European auditors call cross-strait tensions “a source of persistent insecurity” for the chip sector. Building overseas also costs money. Margin dilution from overseas fabs should increase from about 2% to 3%-4%, and 2026 capex runs $60 billion to $64 billion. The stock has fallen 8.77% over the past month.
TSMC’s expanding presence keeps the thesis intact. The second Arizona fab starts volume production in Q3 2027, and Japan gets 3nm in 2028. Those overseas costs buy geographic resilience, and I am willing to pay for that.
What Keeps My Buy Button Active N2 capacity should more than double in 2027. A14 volume production begins in 2028, and management expects it to become a bigger node. Its position is clear: “We have no intention of leaving any food on the table for others.” I plan to keep collecting the toll alongside TSMC for decades.
Contact [email protected] for any questions or corrections.
Guggenheim zvýšil cílovou cenu pro ServiceNow z původních 125 USD na 175 USD a ponechal doporučení „koupit“. Odkázal přitom na stabilní poptávku a potenciál překonat čtvrtletní očekávání.
Guggenheim Just Raised Its ServiceNow Price Target by 40% as AI Demand Builds Summary
Guggenheim raised its ServiceNow price target to $175, citing steady customer demand and the potential for the software company to beat quarterly expectations
ServiceNow (NOW) received a higher valuation assessment from Guggenheim, which raised its price target to $175 from $125 and retained a Buy rating. The new objective relies on a valuation of roughly 10.5 times projected recurring revenue.
Feedback from five partners suggests customers are continuing to spend on ServiceNow's software, although demand has not broadly accelerated. One partner described business as better than anticipated, while four reported performance close to their expectations. Guggenheim believes this environment supports the company's prospects for meeting third-quarter estimates for growth in contracted work awaiting revenue recognition.
The brokerage also sees the company's core IT service-management business supporting sales momentum. Its partners reported healthy pipelines, while Guggenheim expects management's guidance for the following quarter to be at least in line with market forecasts.
ServiceNow's strategy of incorporating artificial intelligence features into product packages has received differing reactions. Some partners observed increased usage and said customers were finding it easier to assess potential returns. Others said the new pricing structure had caused dissatisfaction among buyers. Overall adoption of AI offerings remains at an early stage, though two partners reported growing interest in AI Control Tower.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Bank of America před zveřejněním výsledků za třetí čtvrtletí zvýšila cílovou cenu akcií ServiceNow ze 150 USD na 180 USD a ponechala doporučení „koupit“.
ServiceNow Inc. (NYSE:NOW) received a bullish endorsement from Bank of America on Friday, as the firm raised its price forecast ahead of the software company’s third-quarter earnings report.
Bank of America analyst Tal Liani maintained a Buy rating and raised the price forecast to $180 from $150.
The analyst expects rising demand for artificial intelligence-powered business automation to support ServiceNow’s revenue growth and customer spending.
AI Adoption Could Drive Next Wave of GrowthLiani believes ServiceNow is well positioned to benefit as businesses move beyond basic AI automation toward more complex workflows.
The company’s established workflow platform, customer relationships and enterprise data infrastructure could give it an advantage over competing AI providers.
ServiceNow’s AI Control Tower, AI-native products and new AI Specialists could also drive adoption across IT, customer relationship management, employee services and cybersecurity.
Bank of America sees a cost advantage for ServiceNow because its platform already contains much of the data needed to deploy AI agents.
Competing providers may face additional expenses to extract, organize and reintegrate enterprise data.
The firm raised its valuation multiple to 27 times estimated 2027 enterprise value to free cash flow from 23 times, reflecting expectations for broader AI adoption and additional customer spending.
Corporate Spending Survey Supports Bullish OutlookBank of America’s October survey of chief information officers showed sustained demand for IT services and growing interest in AI.
The survey found that 42% of respondents ranked IT service management and IT operations management among their five biggest spending priorities.
Meanwhile, 54.5% said they were likely or very likely to use ServiceNow for back-office AI applications.
About 36% of respondents expected AI to account for more than 10% of their software budgets.
However, broader software spending growth could remain modest. About 31% of respondents expected budget increases of 1% to 5% in 2027, while 27% anticipated growth of 6% to 10%.
The findings suggest ServiceNow could benefit from both its established enterprise software business and rising corporate investment in AI.
ServiceNow Earnings: Wall Street Expects Revenue GrowthServiceNow confirmed that it will report third-quarter financial results after the market closes Wednesday, Oct. 28.
Wall Street expects earnings of $1.03 per share, up from 96 cents a year earlier. Revenue is expected to rise to $4.09 billion from $3.41 billion in the year-ago quarter.
Bank of America projects subscription revenue growth of 20.6% year over year to approximately $3.98 billion, including 18.5% organic growth.
The firm also expects current remaining performance obligations, a measure of contracted revenue expected to be recognized over the next 12 months, to grow 20% in constant currency.
Investors will closely watch ServiceNow’s progress toward its $1.5 billion annual contract value goal for AI products in fiscal 2026.
Bank of America expects some pressure on gross margins, although operating efficiencies could help offset the impact. The firm forecasts a third-quarter operating margin of 31.1%.
Wall Street Analysts Turn More BullishServiceNow carries an average analyst price forecast of $158.72, with a Buy consensus rating.
Several Wall Street firms have recently raised their forecasts ahead of the company’s earnings announcement.
On Friday, Guggenheim maintained its Buy rating and raised its price forecast to $175.
Truist Securities maintained a Buy rating and lifted its forecast to $180 on Wednesday, Oct. 21.
StoneX also maintained a Buy rating and raised its forecast to $165 on Monday, Oct. 19.
The upgrades reflect growing analyst optimism about ServiceNow’s AI opportunities and enterprise software demand.
Premium Valuation Remains a RiskDespite the bullish outlook, ServiceNow trades at a price-to-earnings ratio of 98.1, reflecting a premium valuation.
Bank of America warned that the stock could face pressure if bookings disappoint or investor sentiment weakens.
The firm also highlighted competition, slower enterprise software spending and rising AI infrastructure costs as potential risks.
Additionally, customers may increasingly expect AI capabilities to be included in existing subscriptions rather than purchased separately, potentially limiting revenue opportunities.
Still, Bank of America believes ServiceNow’s enterprise relationships, established workflow platform and expanding AI capabilities position the company to capture a larger share of corporate technology spending.
NOW Price Action: ServiceNow shares were down 0.13% at $156.05 at the time of publication on Friday, according to Benzinga Pro data.
Peněženky ETF společnosti BlackRock převedly na Coinbase Prime 3 215 BTC v hodnotě 262,4 milionu USD, což zřejmě odpovídá již oznámenému odlivu 254,1 milionu USD z IBIT.
A massive crypto transfer from BlackRock's ETF wallets to Coinbase Prime set off alarm bells across crypto markets, but the real question is whether on-chain traders are misreading the signal entirely.
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Wallets tied to BlackRock’s (NYSE: BLK) spot ETFs moved 3,215 BTC, valued at $262.4 million, to Coinbase Prime, according to on-chain records from October 23, 2026. Coinbase Prime, Coinbase’s institutional trading desk (NASDAQ: COIN), also received another 38,882 ETH, worth $93.2 million, from those wallets. This brings the total transfer to about $355.6 million in just two hours.
The timing is concerning. On October 22, spot Bitcoin ETFs faced $635.6 million in net outflows, and Bitcoin (CRYPTO: BTC) dropped by 3.3% to $81,429. Crypto enthusiasts often interpret such large transfers to exchanges as a sign of significant selling ahead.
However, despite these transfers, Bitcoin trades at $81,858 as of October 23, up 0.3% over the past 24 hours, while Ethereum (CRYPTO: ETH) remains nearly unchanged near $2,408. This raises the question: does this transfer signal a fresh wave of selling, or is it just a paper trail for sales that already occurred?
What BlackRock’s $262 Million Coinbase Transfer Reveals
An on-chain transfer represents the movement of coins between two wallets, publicly recorded on the blockchain. Analytics firms label these wallets to help readers identify where the coins came from and where they’re going. A common trading principle is that when coins flow onto an exchange, traders can sell them, which can read as bearish. Conversely, coins moving off exchanges suggest long-term holding.
Coinbase Prime acts as a prime broker, holding, trading, and settling assets for major institutions through a single account. Because Coinbase is BlackRock’s primary custody and trading partner for its crypto funds, BlackRock moves coins between Coinbase-run wallets as standard fund-management practice.
Interestingly, this transfer aligns closely with an outflow from one of BlackRock’s funds. The $262.4 million in Bitcoin moved corresponds to the $254.1 million that exited the iShares Bitcoin Trust (NASDAQ: IBIT) on October 22, according to SoSoValue.
Why the Coinbase Prime Transfer Is Less Alarming Than It Looks
Most iShares Bitcoin Trust trades do not directly move Bitcoin. When an investor sells IBIT shares on the stock market, another investor buys them, and the fund’s coins remain intact. Coins transfer only when an Authorized Participant, such as a large bank or trading firm, redeems shares with the fund.
BlackRock’s iShares prospectus explains this clearly. In a redemption scenario, “an Authorized Participant deposits Creation Units with a Fund and receives from the Fund a redemption basket,” which can consist of assets or “a specified amount of cash.”
In a cash redemption, the fund sells Bitcoin to raise money through its prime broker, while in an in-kind redemption, the Authorized Participant receives the actual Bitcoin and may choose to hold, hedge, or sell them. In both instances, this recent transfer settles orders investors placed on October 22, already reflected in the published flow numbers. A trader interpreting the wallet movement as new selling could mistakenly count the same $254.1 million twice.
The Ethereum transfer follows the same logic, indicating redemptions from BlackRock’s Ethereum ETF, which is managed through the same account. Furthermore, the outflows are not solely attributable to BlackRock. The Fidelity Wise Origin Bitcoin Fund witnessed $217.5 million in outflows, the ARK 21Shares Bitcoin ETF had $109.4 million, and Grayscale’s and Bitwise’s funds saw outflows of $29.5 million and $27.4 million, respectively. However, BlackRock’s movements drew more attention because of greater scrutiny.
What Could Change the Direction of Bitcoin’s ETF Flows
Bitcoin’s price is closely linked with ETF flows, and October 22 marked a break in buying momentum. The funds had previously attracted $1.08 billion over the three preceding sessions, so after October 22’s outflow, they still brought in a net $442.7 million from October 19 to 22.
IBIT’s activity fueled much of this, drawing in $665.2 million on October 19 and $235 million on October 21. Overall, total net inflows across all spot Bitcoin ETFs stood at $57.32 billion as of October 22.
The funds have experienced other days of outflows this month that did not lead to a downward trend. On October 7, they posted $487.1 million in outflows, and on October 14, $261.5 million, but inflows followed both instances.
Bitcoin’s price has followed a similar pattern, down 0.3% over the past week, 3.7% over the month, and 7.2% year to date. Nevertheless, it remains up 26.3% over the past 90 days, suggesting buyers have maintained a rebound from summer lows. As of the morning of October 23, flow data had not yet been published, which could provide investors with clearer insights than any wallet alert.
Is More Bitcoin Selling Coming After BlackRock’s Transfer?
The transfer to Coinbase Prime appears to record transactions that have already occurred, closely matching the size of redemptions reported on October 22. This transfer alone does not suggest more sellers are queuing up, implying significant additional selling may not be on the horizon yet.
Two checks could change that view. Another outflow near October 22’s $635.6 million, or outflows that wipe out the $442.7 million net inflow from October 19 to 22, would point to wider selling. On price, a close below $81,429 would suggest buyers cannot absorb the redemptions, while a move above $84,378, its September 23 level, would show buyers back in control.
Contact [email protected] for any questions or corrections.
Coinbase umožňuje nástrojům AI, jako jsou ChatGPT, Claude a Grok, obchodovat jménem zákazníků; uživatelé mohou omezit přístup k portfoliím, kontrolovat příkazy a agenta kdykoli odpojit.
Coinbase now lets ChatGPT, Claude, and Grok place real trades in your crypto account, and the safeguards put most of the risk squarely on you. Here is what users and investors need to understand before connecting an AI to their…
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Coinbase (NASDAQ: COIN | COIN Price Prediction) recently announced that it now lets AI agents trade within customer accounts. On October 22, 2026, the company shared on X that “Coinbase is open for AI agents.” This new feature lets users connect AI tools like ChatGPT, Claude, Grok, and Muse to trade cryptocurrencies, stocks, and derivatives from a single conversation on its Everything Exchange.
Despite this exciting development, the market reaction was muted. COIN shares closed around $169, down 4.5% on October 22 after a 5% gain the previous day on news of new GENIUS Act regulations. Most of the decline occurred before the announcement near the end of the trading day. Shares were held at approximately $169 earlier.
Coinbase Users Can Start Using AI Agents Right Away
The new feature is live, and Coinbase lets users choose which portfolios the AI agent can access, preview orders before they execute, and disconnect the agent at any time.
The connection process utilizes Coinbase’s MCP server—short for model context protocol—a standard method for AI assistants to integrate with applications. For example, in ChatGPT, a user can add the URL agents.coinbase.com/mcp as a custom server, log in to Coinbase, and choose which portfolios the agent can access through an approval screen.
Coinbase has approved several AI assistants for this feature, including ChatGPT, Grok, Grok Bot, Muse, Perplexity Computer, Claude, Claude Code, and Codex CLI. A September 2026 update also added support for U.S. stocks and ETFs, as well as x402 payments, enabling agents to buy market data using a user’s USD Coin (CRYPTO: USDC) balance. However, Coinbase has not provided specific details on fees, user counts, or revenue goals for this feature.
AI Agents Could Lift Coinbase’s Trading Fees, but Not Yet
In the short term, the impact on Coinbase’s bottom line appears minimal. The company reported Q2 2026 revenue of $1.22 billion, down 18.5% from the previous year, along with a GAAP loss of $1.36 per share. Revenue from consumer transactions—essentially the fees paid by retail traders—fell 20% to $452 million.
During the July 30 earnings call, Coinbase CEO Brian Armstrong said agentic finance is still in its early stages and that the company doesn’t have specific forecasts to share. While increased trading by AI agents could raise consumer fees in the future, especially during a broader crypto rebound, Coinbase has not yet reported any revenue from these agents.
Coinbase’s Safeguards Still Leave Users With Most of the Risk
The biggest risk users face is misunderstanding the instructions. For instance, if a user requests “a little crypto,” the AI must interpret what “a little” means, leaving the user accountable for the trade. Another risk is prompt injection, where hidden text could mislead an agent into acting against the owner’s wishes. Additionally, rogue agent tools could compromise Coinbase logins, and overly broad permissions can exacerbate these vulnerabilities.
Coinbase advises users to create a separate portfolio for AI trading, fund it only with money they can afford to lose, and restrict the agent’s access to that account. This approach helps contain any potential losses. Unlike Telegram trading bots, Coinbase keeps funds in a regulated exchange account and offers order previews and an off switch for safety.
Furthermore, Armstrong has expressed confidence that agents will select reliable, safe, and compliant infrastructure, favoring Coinbase’s offerings. The platform reportedly handles more than 99% of stablecoin volume for agentic transactions on Base, its blockchain network, which reinforces its leading position.
Do Coinbase AI Agents Change Anything for COIN Holders? Currently, we believe the introduction of AI trading features won’t change much for COIN holders. While the new feature is beneficial and includes adequate safety measures, the market’s disinterest seems justified, especially since Coinbase hasn’t tied it to revenue. Users may mainly face risk from a bad trade or a compromised agent, but keeping a small, separate portfolio can limit losses.
The real cost for COIN shareholders may simply be the waiting game. Our perspective could shift if Coinbase’s Q3 2026 earnings report reveals meaningful data on agent trading volume or revenue. Until then, a rise back above $177—the October 21 closing price, about a 5% increase from current levels—could signal that investors are beginning to value this new feature.
Contact [email protected] for any questions or corrections.
Key Takeaways Ventas is set to report Q3 2026 results Oct. 27, with revenues seen rising 18.3% and FFO per share 11.4%.Senior housing occupancy and long-term leases are expected to support rental revenues and quarterly growth.Triple-net rental income is projected to fall to $125.2M, while high interest expenses may weigh on results. Ventas, Inc. (VTR - Free Report) is scheduled to report third-quarter 2026 results on Oct. 27, after market close. The quarterly results are likely to show year-over-year growth in revenues and normalized funds from operations (FFO) per share.
In the last reported quarter, this Chicago-based healthcare real estate investment trust (REIT) delivered a normalized FFO per share of 97 cents, beating the Zacks Consensus Estimate by a cent. The quarterly results reflected a year-over-year increase in same-store cash net operating income, driven by strong performance in the senior housing operating portfolio (SHOP) and outpatient medical research (OM&R) portfolio.
Ventas’ normalized FFO per share surpassed the Zacks Consensus Estimate in three of the preceding four quarters and met once, with the average beat being 1.37%. The graph below depicts this surprising history:
Factors at Play for VTRIn the third quarter of 2026, Ventas’ SHOP is likely to have benefited from an aging U.S. population and a rise in healthcare expenditure by this age cohort, which is generally higher than that of the average population. With the segment witnessing positive net move-ins, occupancy is expected to have remained high.
A well-diversified tenant base with long-term leases is expected to have contributed well to stable rental revenue generation, boosting the top line.
However, the triple-net leased properties are likely to have been affected during the to-be-reported quarter. Further, high interest expenses are expected to have cast a pall on the company’s performance to some extent.
VTR’s Q3 ProjectionsThe Zacks Consensus Estimate for third-quarter 2026 revenues is currently pegged at $1.76 billion, implying an 18.3% increase from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for third-quarter resident fees and services is pegged at $1.39 billion, suggesting an increase from $1.09 billion reported in the year-ago period.
The consensus mark for OM&R portfolio rental income for the third quarter is pegged at $229.5 million, indicating an increase from $226.2 million reported in the year-ago period.
However, the Zacks Consensus Estimate for third-quarter triple-net leased properties' rental income is pegged at $125.2 million, suggesting a decrease from $160.1 million reported in the year-ago period.
Ventas’ activities during the soon-to-be-reported quarter have been inadequate to gain analysts’ confidence. The Zacks Consensus Estimate for third-quarter FFO per share has decreased a cent to 98 cents over the past week. However, the figure implies an increase of 11.4% from the year-ago quarter’s reported number.
What Our Quantitative Model Predicts for VTROur proven model predicts a likely surprise in terms of FFO per share for Ventas this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is the case here.
Ventas currently has an Earnings ESP of +0.70% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks That Warrant a LookHere are two stocks from the broader REIT industry — BXP, Inc. (BXP - Free Report) and American Healthcare REIT (AHR - Free Report) — that you may want to consider, as our model shows that these have the right combination of elements to report a surprise this quarter.
BXP, which is scheduled to report third-quarter 2026 results on Oct. 27, has an Earnings ESP of +0.04% and a Zacks Rank #3 at present.
American Healthcare REIT is slated to report third-quarter 2026 results on Nov. 5. AHR has an Earnings ESP of +0.60% and a Zacks Rank of #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Jefferies ponechala doporučení pro Fortinet (FTNT) na stupni „držet“. Klíčový bude výhled pro rok 2027, protože tržní konsenzus očekává růst tržeb z produktů jen o 9 %.
Jefferies has maintained a 'hold' rating on Fortinet Inc (NASDAQ:FTNT) arguing that its next earnings outlook will matter more than another strong quarter as investors assess whether product growth can endure into financial year 2027.
The broker expects product revenue growth of around 50% year on year in the third quarter, well above the 31% consensus forecast, supported by positive industry checks, pricing increases and accelerated firewall replacement activity.
However, Jefferies believes the fourth-quarter guidance and any initial framework for 2027 will be more important, as investors remain wary of a potential slowdown following several quarters of strong growth.
A survey of value-added resellers (VARs), which sell and support cybersecurity products, found the US cybersecurity company's average performance was 2.5% above plan, up from 2.3% in the previous quarter and ahead of the survey average of 1.5%.
The survey also found that 54% of respondents had observed customers bringing forward firewall purchases, supporting the broker's view that replacement demand could sustain momentum for another two to three quarters.
Jefferies expects fourth-quarter product revenue guidance to exceed the current consensus forecast of $772 million, representing annual growth of 11.7%, while leaving room for further outperformance.
The broker noted that the consensus forecast for 2027 implies product revenue growth of just 9%, with some investors questioning whether Fortinet can deliver any growth as comparisons become more demanding.
Management has previously outlined a framework for annual product revenue growth of 10% to 15%, while Jefferies believes the current replacement cycle could have further room to run.
Fortinet has recorded three quarters of product growth above 20% during the current cycle, compared with 10 quarters during the pandemic-era refresh cycle, suggesting that replacement demand may continue to support results.
Recent price increases should also provide a tailwind into the first quarter of 2027, with average selling prices potentially rising by more than 10% in the second half, although growth will increasingly depend on underlying demand as those increases feed through.
Jefferies also expects third-quarter billings, a measure of customer orders invoiced, to exceed expectations by a mid-to-high single-digit percentage, against guidance implying growth of 27% at the midpoint.
Investors will also watch current services billings, which Jefferies expects to accelerate from 16% annual growth in the second quarter, with growth above 20% still achievable as product sales generate follow-on service revenue.
Despite the positive near-term outlook, Jefferies warned that tougher comparisons could constrain further upside until Fortinet provides clearer evidence of sustainable growth in 2027.
The broker noted that Fortinet trades at 37 times the estimated calendar 2027 free cash flow, below Palo Alto Networks at 50 times and broadly in line with Zscaler at 36 times.
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Společnost Cintas v 1. čtvrtletí fiskálního roku 2027 zvýšila tržby o 10,9 % na 3,01 mld. USD a upravený zisk na akcii o 15,8 % na 1,39 USD; zároveň zvýšila celoroční výhled.
It has been about a month since the last earnings report for Cintas (CTAS - Free Report) . Shares have added about 13.3% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Cintas due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.
Cintas’ Q1 Earnings & Revenues Beat Estimates on Margin GainsCintas reported first-quarter fiscal 2027 adjusted earnings of $1.39 per share, which beat the Zacks Consensus Estimate of $1.35 by 3.0%. The bottom line increased 15.8% from the year-ago quarter. Revenues of $3.01 billion surpassed the consensus estimate of $2.97 billion by 1.6% and rose 10.9% year over year.
The top line benefited from 8.9% organic revenue growth, reflecting growth after adjusting for acquisitions, foreign currency movements and workday differences. Record gross and operating margins were other key highlights in the quarter.
Cintas' Segmental ResultsThe company has two reportable segments, Uniform Rental and Facility Services and First Aid and Safety Services. Other businesses are included in All Other. Quarterly sales data are briefly discussed below.
Cintas' Uniform Rental and Facility Services segment generated revenues of $2.29 billion, up 9.7% year over year from $2.09 billion. Segment operating income rose to $575.09 million from $499.94 million.
The First Aid and Safety Services segment delivered revenues of $388.52 million, increasing 16.1% from $334.66 million in the prior-year quarter. Operating income climbed to $99.54 million from $80.33 million.
Revenues from the All Other segment totaled $330.73 million, up 13.1% from $292.40 million a year ago. Segment operating income increased to $51.67 million from $37.60 million.
Margin ProfileCintas' cost of sales totaled $1.46 billion compared with $1.35 billion in the year-ago quarter. Gross margin increased 13.7% to $1.55 billion, while gross margin as a percentage of revenue expanded to 51.5% from 50.3%.
Selling and administrative expenses were $827.24 million, up 10.5% year over year. The company also incurred $14.41 million of transaction expenses related to the proposed UniFirst Corporation acquisition. Operating income rose 15.2% to $711.89 million.
Operating margin improved to 23.6% from 22.7% in the prior-year quarter. Net income increased 12.3% to $551.71 million, while net income margin was 18.3% compared with 18.1%. The effective tax rate increased to 20.0% from 17.6%.
Cintas' Cash Flow TrendsIn the first quarter of fiscal 2027, Cintas generated $572.33 million in net cash from operating activities, up from $414.48 million in the year-ago period. Capital expenditures totaled $107.53 million compared with $101.96 million a year earlier.
Free cash flow increased to $464.80 million from $312.52 million. Net cash used in investing activities was $117.37 million, reflecting capital expenditures, purchases of investments and business acquisitions.
During the quarter, the company repurchased common stock worth $315.71 million and paid $180.70 million in dividends. Net cash used in financing activities totaled $500.17 million.
Balance SheetCintas exited the quarter with cash and cash equivalents of $243.60 million compared with $289.02 million at the end of fiscal 2026. Accounts receivable increased to $1.59 billion from $1.56 billion, while inventories declined to $433.29 million from $446.44 million.
Total current assets were $3.93 billion compared with $3.85 billion at May 31, 2026. Long-term debt was $1.43 billion, while debt due within one year totaled $999.29 million. Total shareholders' equity increased to $5.20 billion from $5.14 billion.
Cintas' Fiscal 2027 OutlookFor fiscal 2027, the company raised its revenue guidance to $12.15-$12.27 billion from the prior projection of $12.10-$12.25 billion. Adjusted diluted earnings per share are now projected in the range of $5.45-$5.54, up from $5.36-$5.50 previously.
The guidance excludes expected impacts from the proposed UniFirst acquisition and assumes no future acquisitions and constant foreign exchange rates. Fiscal 2027 also has one more workday than fiscal 2026.
Cintas expects net interest expense of approximately $103.00 million compared with $101.20 million in fiscal 2026, with the increase primarily tied to amortization of bridge loan financing expenses related to UniFirst. The company projects an effective tax rate of 20.4% for fiscal 2027.
How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in estimates revision.
VGM ScoresAt this time, Cintas has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. However, the stock has a score of F on the value side, putting it in the bottom 20% quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Cintas has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Corning před zveřejněním výsledků za třetí čtvrtletí očekává tržby ve výši 5 miliard USD a zisk 0,88 USD na akcii, a to díky poptávce po optických řešeních pro infrastrukturu AI.
Key Takeaways Corning expects Q3 sales of $5 billion and EPS of 88 cents, with its model predicting an earnings beat.AI infrastructure demand and deals with Amazon, NVIDIA and Verizon support Optical Communications growth.Solar profitability may improve as production resumes, while uneven consumer electronics pose challenges. Corning Incorporated (GLW - Free Report) is scheduled to report third-quarter 2026 earnings on Oct. 27, 2026. The Zacks Consensus Estimate for sales and earnings is pegged at $5 billion and 88 cents per share, respectively. Earnings estimates for GLW have increased 0.61% to $3.29 for 2026 and increased 0.47% to $4.3 for 2027 over the past 60 days.
GLW Estimate Trend
Image Source: Zacks Investment Research
Earnings Surprise HistoryThe advanced glass substrates producer has a solid trailing four-quarter earnings surprise history. It delivered a four-quarter earnings surprise of 1.75%, on average.
Image Source: Zacks Investment Research
Earnings WhispersOur proven model predicts a likely earnings beat for Corning for the third quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. That is exactly the case here.
Corning currently has an ESP of +0.68% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factor Shaping Upcoming ResultsCorning’s Optical Communications business is expected to remain a key driver of its third-quarter 2026 performance. Growing investment in AI infrastructure and hyperscale data centers is boosting demand for optical fiber, cables and high-density connectivity solutions.
Multiyear agreements with Amazon and NVIDIA, along with Corning's previously announced partnership with Meta, provide further support for demand. The company's September agreement with Verizon to supply high-density optical fiber and connectivity solutions through 2032 also strengthens its long-term growth prospects.
Corning's Solar business is another important factor to watch as the company seeks to improve profitability following production-related disruptions. An extended maintenance shutdown and equipment upgrades at the wafer facility weighed on profitability during the second quarter. Management expects sales and profits to improve in the third quarter as production resumes and operational efficiency strengthens. However, performance across other businesses remains uneven. Demand trends in consumer electronics and automotive markets, along with higher memory prices affecting smartphones, could hinder growth in some of Corning's businesses.
Price PerformanceOver the past year, Corning has surged 41.8% compared with the industry’s growth of 100.8%. It has outperformed peers like Amphenol Corporation (APH - Free Report) but lagged Ciena Corporation (CIEN - Free Report) over this period. While Amphenol has gained 9.2%, Ciena has jumped 80.2%.
Image Source: Zacks Investment Research
Key Valuation MetricFrom a valuation standpoint, Corning appears discounted relative to the industry and is trading below its mean. Going by the price/earnings ratio, the company’s shares currently trade at 30.24 forward earnings, lower than 31.13 for the industry and higher than the stock’s mean of 26.57.
Image Source: Zacks Investment Research
Investment ConsiderationCorning is strengthening its position in the expanding AI infrastructure market through its optical connectivity portfolio and relationships with major technology companies. As data centers require greater bandwidth and more sophisticated networking capabilities, demand for optical fiber, cable and connectivity products could provide a significant growth opportunity. The company's planned expansion of U.S. manufacturing capacity and its investment in next-generation optical technologies further support its long-term prospects.
Under the upgraded Springboard plan, management aims to reach annualized sales run rates of $20 billion by the end of 2026, $30 billion by the end of 2028 and $40 billion by the end of 2030. However, these targets depend on successful execution and sustained customer demand.
The Solar business offers another potential source of growth as Corning expands its U.S. manufacturing capabilities across polysilicon, wafers and modules. A recovery in production efficiency could support improved segment profitability.
End NoteAI-driven demand for optical connectivity, long-term customer agreements and improving operating margins are major positives for Corning ahead of third-quarter results. The anticipated recovery in Solar profitability could provide an additional boost. Sustained improvement in its profitability and cash generation over the past few quarters is a tailwind. Hence, with a Zacks Rank #2, Corning appears to be a good investment option at present.
Systém společnosti FuelCell Energy získal v kapacitním hodnocení PJM pro období 2028/2029 rating 99,873 %, takže téměř celý jeho výkon může být uznán jako spolehlivá kapacita.
Key Takeaways FuelCell Energy's system earns a 99.873% capacity rating in PJM's 2028/2029 reliability assessment.PJM projects 32 GW of peak load growth by 2030, with about 30 GW expected from data centers.High capacity accreditation could raise eligible projects' revenue potential, subject to market outcomes.
FuelCell Energy, Inc. (FCEL - Free Report) has achieved a 99.873% capacity rating for its FuelCell Energy Block System in PJM Interconnection’s unit-specific Effective Load Carrying Capability (ELCC) assessment for the 2028/2029 Reliability Backstop Procurement process. The result highlights the potential reliability contribution of the company’s fuel cell technology as electricity demand rises, particularly from data centers and other large power consumers seeking dependable, on-site generation.
FuelCell Energy Secures Strong PJM Capacity AccreditationThe 99.873% rating indicates that PJM may recognize nearly all the evaluated system’s capacity as dependable under the applicable assessment. In practical terms, approximately 99.9 megawatts of every 100 megawatts evaluated could be counted as dependable capacity.
For comparison, PJM’s preliminary technology-class ratings for the same period recognize 96% of nuclear capacity, 93% of diesel utility or engine-based backup capacity and 67% of gas combustion turbine capacity. The assessment provides an important benchmark for customers evaluating the dependability of FuelCell Energy’s systems.
However, the rating applies specifically to the system evaluated for the 2028/2029 procurement process. It is not a technology-wide rating or a measure of operating uptime, and future assessments could differ.
Rising Data Center Demand Boosts Need for On-Site PowerGrowing electricity consumption from data centers is increasing pressure on power infrastructure and strengthening the need for dependable generation. PJM projects 32 gigawatts of peak load growth across its region between 2024 and 2030, with approximately 30 gigawatts expected to come from data centers.
Against this backdrop, large electricity users are increasingly considering generation solutions that can deliver power directly where it is needed. FuelCell Energy’s carbonate fuel cell technology provides continuous, on-site electricity generation, potentially helping data centers, industrial facilities and other large customers address their power requirements.
The company's latest capacity assessment could provide customers with an additional independent measure when evaluating on-site generation options.
Capacity Accreditation Could Support Market OpportunitiesThe strong accreditation also carries potential economic implications for FuelCell Energy and eligible projects using its systems within PJM. The grid operator uses ELCC assessments to evaluate the reliability contribution of power resources and convert installed capacity into accredited capacity.
A higher accredited capacity level may allow eligible projects to offer more capacity into PJM's capacity market, potentially increasing their revenue opportunities. However, actual participation and financial benefits remain subject to market requirements, procurement decisions and auction outcomes.
Future participation in the Reliability Backstop Procurement process would also depend on the applicable evaluation procedures. Following federal regulatory approval and delayed implementation of the procurement process, updated accreditation could be required using revised assumptions and study inputs.
FuelCell Energy emphasized that customers need to understand how much power they can depend on as they determine where and how quickly to expand. He noted that the assessment offers an independent measure of the platform's dependability and could have economic significance because accredited capacity influences the amount of generation that can potentially be monetized.
FuelCell Energy Targets Mission-Critical Power NeedsFuelCell Energy develops modular fuel cell systems designed to provide continuous, scalable baseload electricity for mission-critical applications. Its systems generate power at the point of use and serve data centers, industrial facilities, utilities and distributed-generation customers.
The 99.873% assessment result strengthens the company's case for consideration by customers seeking reliable on-site power amid rising electricity demand. It also highlights a potential avenue for eligible projects to participate in PJM's capacity market.
Nevertheless, the ultimate commercial benefit will depend on project eligibility, future accreditation assessments and applicable market outcomes. The latest result offers a positive reliability signal as FuelCell Energy seeks to address growing demand for dependable power solutions.
FCEL’s Zacks Rank & Key PicksFuelCell Energy is a clean energy company that develops and provides stationary fuel cell systems for on-site, continuous power generation. Currently, FCEL carries a Zacks Rank #3 (Hold).
Investors interested in the alternative energy sector may consider some top-ranked stocks like Montauk Renewables, Inc. (MNTK - Free Report) , Clearway Energy, Inc. (CWEN - Free Report) and Enlight Renewable Energy Ltd (ENLT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Montauk Renewables is a fully integrated renewable energy company that specializes in the management, recovery and conversion of biogas into renewable energy. The Zacks Consensus Estimate for MNTK’s 2026 earnings indicates 1100% year-over-year growth.
Clearway Energy, along with its subsidiaries, owns and operates a diversified portfolio of contracted renewable and conventional generation in the United States. The Zacks Consensus Estimate for CWEN’s 2026 revenues indicates 17.6% year-over-year growth.
Enlight Renewable Energy provides a renewable energy platform that develops, finances, constructs, owns and operates renewable energy projects. The Zacks Consensus Estimate for ENLT’s 2026 revenues indicates 40.2% year-over-year growth.
Společnost FuelCell Energy čelí hromadné žalobě kvůli údajným zavádějícím tvrzením o výrobní kapacitě a smlouvě s Fit Energy. Po zveřejnění ztráty ve výši 45,3 mil. USD akcie FCEL během jediné seance klesly téměř o 16 %.
, /PRNewswire/ -- National trial law firm Hagens Berman alerts investors in FuelCell Energy, Inc. (NASDAQ: FCEL) that a securities class action has been filed, and reminds investors that they have until November 10, 2026, to seek appointment as lead plaintiff.
If you purchased or acquired FuelCell securities during the Class Period and suffered significant financial losses, submit your losses now.
Key Details
Class Period: June 24, 2026 – Sept. 1, 2026
Lead Plaintiff Deadline: Nov. 10, 2026
Visit: www.hbsslaw.com/fcel
Direct Contact Email: [email protected]
Firm Telephone: 844-916-0895
Video: https://youtu.be/GlhunVARgjo
What is the FuelCell Securities Class Action About?
The lawsuit focuses on whether FuelCell Energy and certain top executives—including CEO Jason B. Few and CFO Michael S. Bishop—violated the Securities Exchange Act of 1934 by making materially false and misleading statements regarding the company's manufacturing capacity, production economics, and a major commercial agreement.
Specifically, the action alleges that throughout the Class Period, defendants touted a high-profile Capital Equipment Purchase Agreement (CEPA) announced on June 24, 2026, under which FuelCell agreed to supply carbonate fuel cell block systems for up to 380 megawatts (MW) of clean, baseload on-site power for data centers to Fit Energy USA LP (beginning with an initial 30 MW phase). Concurrently, FuelCell capitalized on the market enthusiasm by completing a massive underwritten public offering of over 12 million shares of common stock at $21 per share, raising roughly $245.5 million in net proceeds.
However, the complaint alleges that defendants failed to disclose critical operational realities to investors:
That FuelCell's actual manufacturing capacity was wholly inadequate to generate the production rates required under the Fit Energy CEPA;
That the lagging production volume meant product costs and manufacturing overhead heavily exceeded the contractual pricing, locking the company into severe gross losses; and
That the company was tracking multi-million-dollar charges and inventory commitments tied to Phase 0 of the agreement that would decimate its quarterly profitability.
The truth emerged before the market opened on September 2, 2026, when FuelCell reported its fiscal third-quarter 2026 financial results. The company revealed a staggering net loss of $45.3 million and a massive jump in gross losses—driven by $17 million in charges recorded for Phase 0 of the Fit Energy CEPA because current product costs and overhead exceeded contract pricing.
Following these disclosures, the price of FuelCell stock plummeted nearly 16% in a single trading session, severely damaging shareholders.
What Can FuelCell Investors Do?
If you purchased FCEL securities between June 24, 2026, and September 1, 2026, you may be eligible to participate in the lawsuit as a lead plaintiff.
The Private Securities Litigation Reform Act of 1995 permits any investor who suffered financial losses to seek appointment as lead plaintiff. You do not need to sell your shares to join the class action.
Click Here To Submit Your Losses
Click Here to Discuss Your Legal Rights: Contact Hagens Berman attorneys to learn more about the case, the lead plaintiff timeline, and your options.
"We're focused on whether FuelCell may have misled investors about its manufacturing capabilities, as the suit alleges," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation of the claims in the pending suit.
Whistleblowers: Persons with non-public information regarding FuelCell should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
Medifast před zveřejněním výsledků za 3. čtvrtletí očekává tržby ve výši 68 milionů USD, což představuje meziroční pokles o 23,9 %, a ztrátu 0,40 USD na akcii.
Key Takeaways MED's Q3 revenues are expected to fall 23.9% to $68 million, with a projected loss of 40 cents per share.Growing GLP-1 adoption and a shrinking active coach base likely pressured MED's sales and client acquisition.MED's better client retention, coach training and Catalyst cost-saving efforts might have eased Q3 pressures.
Medifast, Inc. (MED - Free Report) prepares to unveil its third-quarter fiscal 2026 results on Oct. 26, before market open. Investors are eager to see if the company can beat market expectations.
The Zacks Consensus Estimate for revenues is pegged at $68 million, implying a 23.9% decline from the prior year. Meanwhile, the consensus mark for earnings has been unchanged at a loss of 40 cents per share in the past seven days. This indicates a substantial decline from the year-ago period’s loss of 21 cents per share. MED has a trailing four-quarter negative earnings surprise of 462.2%, on average.
Key Factors to Note for MED's Q3 EarningsMedifast is likely to have faced challenges from the growing adoption of GLP-1 medications, which have been reshaping demand across the traditional weight-loss market. The company has previously highlighted that this shift has been affecting client acquisition and coach participation. These industry dynamics, along with continued competition in the weight-management category, might have remained meaningful headwinds in the to-be-reported quarter.
The continued decline in Medifast's active earning coach base might have pressured quarterly revenues. The company has previously indicated that coach numbers are likely to remain under pressure despite improvements in productivity. A smaller coach network might have limited customer reach and sales opportunities, partly offsetting benefits from higher revenue per coach. These factors are likely to have constrained overall business performance in the third quarter.
Profitability is also likely to have remained under pressure due to lower sales volumes and reduced leverage on fixed operating costs. The company has previously noted that declining revenues might have affected its ability to absorb fixed expenses, resulting in gross margin pressure. These factors might have continued to weigh on earnings performance in the quarter, despite ongoing efforts to streamline operations and control expenses.
However, Medifast's strategic initiatives are likely to have provided some support during the quarter. The rollout of its Trilivy brand and new Reset Fuelings, alongside an enhanced coach compensation structure and training platform, might have supported coach engagement and productivity. Meanwhile, improving client retention trends and the company's Catalyst cost-saving program, focused on facility rationalization and AI-related efficiencies, might have helped mitigate some operating pressures.
What the Zacks Model Says About MEDOur proven model doesn’t conclusively predict an earnings beat for Medifast this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Medifast currently has a Zacks Rank #1 and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable CombinationHere are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Sysco Corporation (SYY - Free Report) currently has an Earnings ESP of +2.58% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Sysco’s upcoming quarter’s earnings per share is pegged at $1.16, which implies a 0.9% increase year over year. The consensus estimate for Sysco’s quarterly revenues is pegged at $22.19 billion, which indicates a surge of 4.9% from the figure reported in the prior-year quarter. SYY delivered a trailing four-quarter earnings surprise of around 1%, on average.
Freshpet, Inc. (FRPT - Free Report) currently has an Earnings ESP of +1.41% and a Zacks Rank of 3. The Zacks Consensus Estimate for Freshpet’s upcoming quarter’s EPS is pegged at 36 cents, implying a 21.7% decrease from the year-ago period.
The consensus mark for Freshpet’s quarterly revenues is pegged at $309.2 million, which indicates an increase of 7% from the prior-year quarter. FRPT delivered a trailing four-quarter earnings surprise of 21.9%, on average.
The Hershey Company (HSY - Free Report) currently has an Earnings ESP of +0.30% and a Zacks Rank of 3. The Zacks Consensus Estimate for Hershey’s upcoming quarter’s EPS is pegged at $2.12 per share, which implies a 63.1% increase year over year.
The consensus estimate for Hershey’s quarterly revenues is pegged at $3.25 billion, which calls for 2.3% growth from the figure reported in the prior-year quarter. HSY delivered a trailing four-quarter earnings surprise of 21.8%, on average.
Společnost Chipotle má ve třetím čtvrtletí vykázat tržby ve výši 3,29 miliardy USD, což představuje meziroční nárůst o 9,5 %, ale marže na úrovni restaurací má klesnout o 80 bazických bodů na 25 %.
Key Takeaways Chipotle to report Q3 results Oct. 28, 2026, with revenues expected to rise 9.5% to $3.29 billion.Menu innovation, digital rewards, restaurant expansion and pricing are expected to support sales growth.Higher beef, freight, wage and operating costs could pressure margins, projected to fall 80 bps to 25%.
Chipotle Mexican Grill, Inc. (CMG - Free Report) is scheduled to report third-quarter 2026 results on Oct. 28.
CMG’s earnings beat the Zacks Consensus Estimate in the trailing three out of four quarters and reported in line once, the average surprise being 2.7%.
Trend in the Estimate Revision of CMGThe Zacks Consensus Estimate for third-quarter earnings per share (EPS) is pegged at 29 cents, flat year over year.
For revenues, the consensus mark is pegged at $3.29 billion. The metric suggests a rise of 9.5% from the year-ago quarter’s figure.
Let us take a look at how things might have shaped up in the quarter to be reported.
Factors Likely to Shape CMG’s Quarterly ResultsChipotle’s third-quarter 2026 revenues are likely to have benefited from continued menu innovation, improved restaurant execution and efforts to strengthen customer engagement. The company’s Recipe for Growth strategy focuses on driving transaction growth through better food quality, generous portions, faster service and enhanced hospitality. The return of popular limited-time offerings and investments in high-efficiency kitchen equipment are expected to have supported customer traffic and repeat visits. However, softer restaurant industry trends and cautious consumer spending might have limited the extent of sales growth.
Menu innovation is likely to have remained an important revenue driver for Chipotle in the third quarter. The successful return of Chipotle Honey Chicken, along with sustained demand for Cilantro Lime Sauce, has helped attract new customers and encouraged existing guests to visit more frequently. The company has also been emphasizing high-protein offerings to capitalize on consumer interest in protein-rich meals.
Chipotle’s refreshed marketing strategy, including culturally relevant promotions and the Matchday BOGO campaign, has helped strengthen brand engagement. Further, the company's focus on communicating the quality of its ingredients and the value of the offerings might have supported customer acquisition and spending.
Chipotle’s digital initiatives and restaurant expansion are also likely to have contributed to third-quarter sales. The revamped Rewards program, personalized offers and Summer of Extras campaign are expected to have encouraged repeat purchases and improved customer frequency. Efforts to simplify loyalty enrollment and enhance digital ordering might have further strengthened engagement.
Meanwhile, the rollout of its high-efficiency equipment package (“HEEP”) has been improving kitchen productivity, order fulfillment and service speed, potentially allowing restaurants to serve more customers during peak periods. New restaurant openings, including locations equipped with Chipotlanes, are likely to have supported overall revenue growth. In addition, gradual menu price increases are expected to have provided a further lift to sales. Our model predicts Food and Beverage as well as Delivery Service revenues to increase 8.5% and 10.5% year over year.
Chipotle’s third-quarter 2026 bottom line is likely to have received support from higher menu prices, improved restaurant throughput and operating efficiencies associated with HEEP. Management expects pricing to contribute in the mid-2% range during the quarter, helping offset some inflationary pressure.
However, elevated beef, freight and other ingredient costs, along with wage inflation, might have weighed on restaurant-level margins. Higher marketing investments, insurance, maintenance and utility expenses are also likely to have pressured profitability. Management anticipated restaurant-level operating costs to remain elevated, with other operating costs expected in the mid-15% range.
Additionally, tougher year-over-year comparisons, consumer caution and the potential sales impact of the cyclospora-related industry concerns might have constrained operating leverage. Thus, although pricing and operational improvements might have provided some relief, persistent cost pressures are likely to have remained a challenge for margins.
Our model predicts third-quarter restaurant-level margins to decline 80 basis points year over year to 25%.
What Our Model Says About CMG StockOur proven model does not predict an earnings beat for Chipotle this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Earnings ESP for CMG: Chipotle has an Earnings ESP of -0.39%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Chipotle’s Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks With the Favorable CombinationHere are some stocks from the Zacks Retail-Wholesale sector, which, according to our model, have the right combination of elements to post an earnings beat this reporting cycle.
Starbucks Corporation (SBUX - Free Report) currently has an Earnings ESP of +0.24% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the to-be-reported quarter, SBUX’s earnings are expected to increase 40.4% year over year. SBUX’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the average surprise being 8.4%.
Sweetgreen, Inc. (SG - Free Report) has an Earnings ESP of +4.26% and a Zacks Rank of 2 at present.
In the to-be-reported quarter, Sweetgreen’s earnings are expected to register a 3.7% year-over-year decline. SG’s earnings lagged estimates in each of the trailing four quarters, with the average miss being 43%.
Brinker International, Inc. (EAT - Free Report) currently has an Earnings ESP of +0.59% and a Zacks Rank of 3.
In the to-be-reported quarter, Brinker earnings are expected to register a 29% year-over-year increase. EAT’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.2%.
Key Takeaways PPL upgrades transmission and distribution networks to improve reliability and meet rising power demand.PPL plans to invest $23 billion through 2029, targeting 10.3% annual rate-base growth.
PPL's grid upgrades and data center pipeline support capacity expansion and earnings growth.
PPL Corporation (PPL - Free Report) is modernizing its transmission and distribution network to improve grid reliability, reduce outages and accommodate rising electricity demand. The company is making strategic infrastructure investments to support growing power needs and strengthen long-term system performance.
Recently, PPL subsidiary Rhode Island Energy announced an $8.2 million project in Middletown to replace 65 aging wooden transmission structures with steel monopoles. The project aims to improve grid reliability, extend the life of critical electric assets and reduce long-term maintenance requirements.
PPL unit PPL Electric Utilities was selected to receive up to $71.5 million in U.S. Department of Energy funding for its Montour Grid Resilience and Advanced Reconductoring Project. The initiative will modernize 29.3 miles of existing transmission lines using advanced conductors and grid-monitoring technology, enhancing transmission capacity and reliability while helping manage infrastructure investment costs.
The company plans to invest $23 billion through 2029, including $8 billion for transmission and $7.2 billion for distribution infrastructure. The program focuses on system hardening, smart-grid technology, automation and network expansion. PPL expects these investments to drive 10.3% average annual rate-base growth and support 6-8% annual earnings per share (EPS) growth through 2029.
Meanwhile, rising demand from the data center pipeline and economic development across PPL’s service territories create opportunities for additional electricity demand. Modernizing existing infrastructure can help accommodate this growth while improving operational efficiency.
Overall, PPL’s infrastructure upgrades and substantial capital spending support grid reliability, capacity expansion and long-term earnings growth.
Grid Upgrades Strengthen Utilities’ Growth ProspectsGrid modernization enables utilities to improve operational efficiency and ease transmission congestion. These upgrades support renewable integration, expand rate bases and strengthen long-term earnings growth prospects. PPL is not alone in prioritizing grid modernization, as other utilities are investing heavily to strengthen infrastructure and reliability.
FirstEnergy Corp. (FE - Free Report) Energize365 program focuses on transmission and distribution upgrades, backed by $36 billion in planned investments through 2030, including more than $19 billion for transmission.
Eversource Energy (ES - Free Report) continues investing in grid modernization, with $26.5 billion planned through 2030, including $7.24 billion for transmission and $11.24 billion for electric distribution.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.18% and 8.77%, respectively.
Image Source: Zacks Investment Research
Debt to CapitalPPL's debt-to-capital currently stands at 57.46%, lower than the Zacks Utility - Electric Power industry’s 62.33%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past month, the company’s shares have risen 9.1% compared with the industry’s 9% growth.
Akcie Inspire Medical Systems za poslední tři měsíce vzrostly o 47,8 % díky větší jasnosti ohledně úhrad a výsledkům za druhé čtvrtletí, kdy tržby dosáhly 200,6 milionu USD.
Key Takeaways INSP shares gain 47.8% in three months as reimbursement uncertainty eases and recovery prospects improve.Q2 revenues reached $200.6 million, beating expectations, while adjusted EPS of 14 cents topped estimates.Project Horizon targets $30 million in annualized savings, while new CPT codes support Inspire V adoption.
Shares of Inspire Medical Systems (INSP - Free Report) have gained 47.8% over the past three months compared with the industry’s 46.2% growth. The rally appears to reflect easing reimbursement uncertainty, better-than-expected second-quarter results, Project Horizon’s plan to redirect $30 million annually toward growth, and an October coding decision that improves the long-term outlook for Inspire V adoption. Near-term sales, however, remain disrupted.
Minneapolis, MN-based Inspire Medical is a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea (OSA). Its proprietary Inspire system is the first FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.
INSP is also scheduled to report third-quarter results on Nov. 2. The company’s earnings per share (EPS) reflect a 48.8% year-over-year decline. Third-quarter sales are likely to decline 6.5% year over year.
Image Source: Zacks Investment Research
Here, we examine the key factors that likely boosted INSP’s share price over the past three months.
Coding Clarity and Reimbursement Rules Improve the OutlookThe hypoglossal nerve stimulation (HGNS) market faced disruption in early 2026 as coding confusion made hospitals and physicians more cautious about scheduling Inspire V procedures. In June, CMS proposed 2027 facility reimbursement of $35,414 for hospital outpatient procedures, up approximately 12%, and $31,722 for ambulatory surgery centers, up 15%. Proposed physician reimbursement, however, declined about 4% to $699, leaving the final payment outlook mixed.
By August, Inspire Medical said the relevant C-codes were in place and incorporated into the WISeR system in six applicable states. Prior-authorization submissions were also improving as high-volume centers gained billing experience.
Another significant milestone was achieved on Oct. 1, when the American Medical Association approved new Category I CPT codes specifically covering single-lead HGNS procedures, including Inspire V. Set to take effect on Jan. 1, 2028, these codes are expected to improve coding consistency, although CMS valuation is still pending. This development could ease administrative complexities and improve patient access across the category.
Second-Quarter Results Restore ConfidenceCoding and reimbursement disruption continued to weigh on sales, but the second-quarter results offered investors evidence that Inspire Medical was managing these headwinds better. Revenues declined 7.6% year over year to $200.6 million because of coding and reimbursement challenges, but exceeded expectations. Adjusted EPS of 14 cents also beat estimates, while operating cash flow improved to $23.2 million from $2.7 million a year earlier. Gross margin expanded 150 basis points to 85.5%, supported by a greater revenue contribution from the higher-margin Inspire V system.
Management also narrowed its estimated full-year revenue impact from coding and reimbursement disruption and WISeR to $120-$130 million. It revised its 2026 revenue outlook to $835-$875 million and set adjusted EPS guidance of $1.05-$1.45.
Although the results did not signal an immediate return to growth, the earnings beat, improving authorization trends and expectations of easing disruptions in the coming quarters provided greater clarity on the company's recovery prospects. These factors likely bolstered investor sentiment despite the year-over-year revenue decline.
Project Horizon Prioritizes Growth InvestmentsAlongside the results, Inspire Medical announced Project Horizon, a strategic plan expected to generate approximately $30 million in annualized capacity for reinvestment in growth initiatives. The plan combines organizational streamlining with supply-chain and production consolidation, directing resources toward patient access, education and engagement. Initiatives include prior-authorization support through SleepSync and Inspire Connect, which provide structured education and support following implantation.
Project Horizon involves $20-$25 million in pretax restructuring charges, with most actions expected to be completed by year-end. Management indicated that many patient-flow initiatives would contribute more meaningfully in 2027 and beyond. Investors may view the program as an opportunity to channel operational savings toward improving patient conversion and reviving demand, rather than relying solely on the normalization of reimbursement conditions.
Clinical Evidence Broadens the OpportunityIn June, Inspire presented complete results from its Inspire V trial, including safety and efficacy data for its accelerometer-based sensing technology. The company also highlighted research associating hypoglossal nerve stimulation with improved cardiovascular risk markers. Its PREDICTOR study suggested that some candidates could be screened for eligibility without drug-induced sleep endoscopy, potentially reducing diagnostic burden and time to treatment. Together, these findings may help physicians identify eligible patients more efficiently and reinforce the therapy’s broader clinical value.
Concerns for INSPDespite better coding clarity, reimbursement remains a material risk. Management estimated coding and reimbursement disruption and WISeR effects could reduce 2026 revenues by $120 million to $130 million, while the full-year revenue projection remains in the range of $835-$875 million.
The new CPT codes are not scheduled to take effect until 2028, while proposed CMS physician reimbursement rates for 2027 are lower. Moreover, Project Horizon is expected to incur restructuring charges of $20-$25 million, with the anticipated growth benefits likely to emerge gradually.
ConclusionINSP’s rally reflects growing investor confidence in the company’s ability to address coding-related challenges while redirecting operational savings toward improving patient access and expanding market penetration. The AMA’s approval of new CPT codes, coupled with better-than-expected earnings and supportive clinical evidence, strengthens its long-term recovery prospects. However, effective execution, final reimbursement rates and the pace of recovery in procedure volumes remain key factors to monitor.
Zacks Rank & Key PicksAlthough INSP currently carries a Zacks Rank #4 (Sell), the VGM score of B reflects potential. While INSP’s Value Score of C suggests a moderate valuation premium, its Growth and Momentum Scores of B indicate potential for sustained upward momentum. However, given the stock’s current Zacks Rank of Sell, investors may prefer to remain on the sidelines and await greater clarity on coding-related issues and revenue trends during the third-quarter earnings call before making an investment decision.
Some better-ranked stocks from the broader medical space are Glaukos (GKOS - Free Report) , Edward Lifesciences (EW - Free Report) and Globus Medical (GMED - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Glaukos reported second-quarter 2026 EPS of 14 cents, which beat the Zacks Consensus Estimate by 50.00%. Revenues of $186 million surpassed the Zacks Consensus Estimate by 24.1%.
Glaukos has an estimated earnings growth rate of 268.8% for 2027. GKOS’ earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 25.87%.
Edward Lifesciences reported second-quarter 2026 adjusted EPS of 78 cents, which beat the Zacks Consensus Estimate by 6.85%. Revenues of $1.74 billion surpassed the Zacks Consensus Estimate by 2.45%.
Edward Lifesciences has an estimated long-term earnings growth rate of 12.7%. EW’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 4.49%.
Globus Medical reported a second-quarter fiscal 2026 adjusted EPS of $1.34, which beat the Zacks Consensus Estimate by 19.6%. Revenues of $790 million missed the Zacks Consensus Estimate by 0.35%.
Globus Medical has an estimated long-term earnings growth rate of 12.4%. GMED’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 27.88%.
Od 7. ledna 2027 hrozí institucionálním investorům, kteří vlastní nejméně 350 domů pro jednu rodinu, za jejich zakázaný nákup pokuta až do výše vyšší z částek 1 milion USD nebo trojnásobek kupní ceny za každý zakázaný nákup.
A new federal rule threatens penalties that could dwarf the price of any single home purchase, and the two biggest single-family landlords in America just watched their stocks climb on the day it dropped.
Starting January 7, 2027, a company could face a civil penalty. If it controls at least 350 single-family homes, the penalty could reach the greater of $1 million or three times the purchase price for each prohibited purchase. The Treasury Department proposed rules on October 22, 2026, that put this ban from the 21st Century ROAD to Housing Act into practice.
Invitation Homes (NYSE:INVH) and American Homes 4 Rent (NYSE:AMH) both sit far above that line, and both stocks rose on October 22. Invitation Homes gained 2.69% to close at $27.53, while AMH gained 3.10% to $31.90. The 10-year Treasury yield fell sharply that day, and that explains the move better than the rule does.
Congress already decided on the ban itself. Treasury’s proposal only defines its edges, and those edges will shape how these two landlords grow.
What the Law Bans and What Treasury Proposed
Section 1001 became law on July 11, 2026. Beginning 180 days later, a large institutional investor “generally may not buy, or contract to buy,” a single-family home unless the deal counts as an “excepted purchase.”
Treasury described the proposal as the first phase of a “phased rulemaking approach.” Publication in the Federal Register is scheduled for October 23, 2026, and comments are due 30 days after that. Later phases may cover compliance, reporting, and enforcement, so political risk remains.
How the $1 Million Penalty Math Works
The maximum fine is $1 million or three times the purchase price, whichever is greater, which makes $1 million the floor of the maximum and, on pricier homes, the multiple sets the ceiling.
Treasury can sue a violator, or the Justice Department can sue at Treasury’s request. A single purchase involving several related investors, such as a fund, its manager and its general partner, counts as one violation. Penalties apply only to prohibited purchases made on or after January 7, 2027, and no company has been fined.
Exemptions That Still Let Large Landlords Buy Homes
A build-to-rent home qualifies under three conditions. Nobody has lived in it as an owner, the investor buys it within 18 months of its certificate of occupancy, and renters are its first occupants. The renovate-to-rent exemption requires the investor to spend at least 15% of the price on improvements, or 10% under a safe harbor for spending on structural or core systems.
Purchases from another large investor that owned the home at enactment, or bought it legally, also qualify, so big landlords can still trade grandfathered rentals with each other, and with fewer eligible buyers, existing portfolios could rise in value. Treasury declined to extend build-to-rent to older rentals because that reading “appears to be inconsistent with the statutory text and purpose.”
What It Means for Invitation Homes and AMH
As of June 30, 2026, Invitation Homes owned 85,509 homes outright, held 8,069 in joint ventures and managed 15,639 for other owners. In the second quarter, it sold 657 wholly owned homes, many to owner-occupants, and acquired 196.
A landlord that sells more homes than it buys has little exposure to a purchase ban, and the law does not restrict its sales to families. Dallas Tanner, chief executive at the time of the July 30, 2026 earnings call, said: “Grandfathered scattered-site assets have a premium in the context of the new legislation.”
AMH owned more than 61,000 single-family properties and grows mostly by building its own homes. Industrywide, buying by large investors has fallen 31.8% in 2026.
Key Dates and Risks Investors in Invitation Homes and AMH Should Track
With a market value of $16.32 billion, Invitation Homes owns a grandfathered portfolio that the law protects from new big-buyer competition. The stock also trades below the $32.83 average analyst target.
AMH, worth $13.08 billion, has the growth model that depends least on Treasury’s final definitions. Building new homes involves no purchase of an existing house.
Invitation Homes is expected to report around October 28, and AMH around November 4. The case for both landlords weakens. That could happen if the final rule narrows the investor-to-investor or renovate-to-rent exemptions, or if Invitation Homes closes below its 52-week low of $23.45.
Contact [email protected] for any questions or corrections.
Curaleaf zvýšil svou nepřátelskou nabídku na převzetí Aurora Cannabis na 1 USD v hotovosti a 0,4013 akcie CURLF za každou akcii ACB, ale představenstvo Aurory ji odmítlo jako podhodnocenou.
Key Takeaways CURLF raised its hostile Aurora bid to $1 cash and 0.4013 shares per share, but Aurora rejected it.Curaleaf's first-half 2026 revenues rose 8% to $664.3 million, while adjusted EBITDA margin fell to 20.6%.CURLF targets $35-$40 million in SG&A savings, but competition and pricing pressure remain key challenges.
Curaleaf Holdings (CURLF - Free Report) has added a new dimension to its growth strategy by pursuing a hostile takeover of Aurora Cannabis (ACB - Free Report) . While the proposed transaction could reshape Curaleaf's growth strategy, it also raises questions about deal execution, shareholder value and the potential implications for the company's existing business.
CURLF’s Bid Faces ResistanceCuraleaf formally launched its bid to acquire Aurora Cannabis in August, offering Aurora shareholders $0.75 in cash and 0.3463 CURLF shares for each ACB share. Based on Curaleaf’s share price before the announcement, the offer was worth approximately $4 per Aurora share, with the total value capped at $5 per share.
However, the bid was hostile from the beginning, as Curaleaf said Aurora had not responded meaningfully to its efforts to discuss a deal. ACB disputed the proposal’s merits, claiming it benefited Curaleaf more than its own shareholders. It also argued that the proposal undervalued its international medical cannabis operations and raised concerns about Curaleaf’s financial position.
At the beginning of October, Curaleaf improved its offer, raising the cash payment to $1 and the stock portion to 0.4013 CURLF shares per ACB share. The revised proposal increased the implied value to $5 per share and the maximum consideration to $6. Curaleaf also extended the offer deadline to Dec. 4, 2026.
Aurora’s board of directors rejected the revised offer last week, again arguing that it undervalued the company, while its special committee continues exploring other options. Curaleaf later criticized Aurora for refusing to share confidential information with it while allowing other potential buyers access. The takeover dispute remains unresolved.
With the takeover's outcome still uncertain, investors should also examine Curaleaf's broader business fundamentals, growth prospects and competitive position to determine if it remains worth considering.
CURLF’s Business Outlook Improves, Challenges RemainCuraleaf's business is showing signs of recovery, supported by improving U.S. operations, stronger wholesale demand and continued growth in international medical cannabis markets. It reported first-half 2026 revenues of $664.3 million, up 8% year over year. The company’s domestic business has returned to growth, while product innovation and retail expansion are helping strengthen its market position. Curaleaf continues to expand its presence, bringing its footprint to 80 locations in Florida and 190 nationwide. International revenues increased 30% from the prior-year period, highlighting the strength of Curaleaf's expanding presence in European medical cannabis markets.
Management also reported a 10% increase in retail transactions in the second quarter of 2026, which was partially offset by a roughly 4% decline in average unit retail pricing. These developments suggest that Curaleaf's growth is being supported by stronger customer traffic, although continued pricing pressure remains a challenge.
Margins, however, require closer attention. In the second quarter, Curaleaf's gross margin improved to 50%, up 70 basis points (bps) year over year, reflecting cultivation efficiencies, labor cost controls and a better product mix. Yet, adjusted EBITDA margin declined 120 bps to 20.6%. The company’s operating expenses also moved north, limiting the benefit of higher sales and improved gross margins. The key challenge is not only to maintain revenue growth but also to improve operating profitability.
To address the rise in expenses, management is targeting $35-$40 million in selling, general and administrative (SG&A) cost reductions over the next 12 months. Curaleaf also plans to increase the share of its international product supply sourced internally from approximately 20% to 50-75% over the next six to 12 months, aiming to reduce supply-chain volatility, improve European margins and lower inventory requirements.
If these initiatives deliver, they could improve profitability and cash generation. However, their success remains uncertain, particularly as international growth brings supply challenges and competitive pricing pressures persist.
Competition Remains IntenseCuraleaf faces competition from other multi-state cannabis operators that are expanding their retail presence and strengthening their branded-product businesses. Green Thumb Industries (GTBIF - Free Report) and TerrAscend (TSNDF - Free Report) are two notable competitors, with both pursuing expansion in markets where Curaleaf also operates.
Green Thumb has continued to expand its Florida retail network, bringing its footprint in the state to 26 locations and 120 stores nationwide. Its dispensaries offer brands such as RYTHM, Dogwalkers and &Shine, strengthening its retail reach and product distribution. As CURLF continues to expand its own Florida network, GTBIF’s growing presence could add to competition.
TerrAscend has also strengthened its presence in New Jersey by completing its acquisition of Aunt Mary's Dispensary last month. This retail store generates more than $10 million in annualized revenues, and TerrAscend expects the transaction to contribute immediately to EBITDA and free cash flow. The company also sees opportunities to improve the store's performance through its existing brand portfolio. This expansion increases TerrAscend's reach in a market where Curaleaf also competes, adding pressure on the latter to retain customers and defend its market position.
CURLF Stock Performance & EstimatesYear to date, shares of Curaleaf Holdings have risen 7% against the industry’s 18% decline.
Image Source: Zacks Investment Research
The bottom-line estimates for 2026 and 2027 have remained constant over the past 60 days.
Image Source: Zacks Investment Research
How to Play CURLF Stock Now?Curaleaf's improving revenue growth, expanding retail presence and international opportunities are encouraging. However, margin pressure and rising operating expenses remain concerns, while management still needs to demonstrate that its cost-saving initiatives can translate into stronger profitability. The proposed Aurora acquisition adds another layer of uncertainty, as the deal's outcome remains unclear and could have implications for Curaleaf's financial flexibility and growth strategy.
Meanwhile, competition could make it more challenging for Curaleaf to maintain its market position and pricing power. Given these mixed signals and its Zacks Rank #3 (Hold), investors may adopt a cautious approach until Curaleaf improves its operating performance and uncertainty surrounding the Aurora bid eases.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Verisk bude v transakci AccuLynx postupovat podle rozhodnutí Nejvyššího soudu státu Delaware, který potvrdil verdikt Court of Chancery. Transakce stále čeká na schválení FTC a splnění obvyklých podmínek pro uzavření a není zaručeno, že bude dokončena.
JERSEY CITY, N.J., Oct. 23, 2026 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading strategic data analytics and technology partner to the global insurance industry, today issued the following statement in response to the Delaware Supreme Court order regarding the AccuLynx transaction:
“We respect the Delaware Supreme Court’s order to affirm the judgment of the Delaware Chancery Court. We will proceed in accordance with the Court’s order. The transaction remains subject to the satisfaction of customary closing conditions and FTC review, and there is no guarantee that the transaction will be completed. We remain focused on serving as a strategic data and technology partner to the global insurance industry and continuing to deliver long-term value for our shareholders.”
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About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, catastrophic events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work. For more, visit Verisk.com and the Verisk Newsroom.
Forward-Looking Statements
This release contains forward-looking statements. These statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “will,” “expect,” “intend,” “plan,” “target,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these terms or other comparable terminology. You should not place undue reliance on forward-looking statements, because they involve known and unknown risks, uncertainties, and other factors that are, in some cases, beyond our control and that could materially affect actual results, levels of activity, performance or achievements.
Contact Data Investor Relations Stacey Brodbar Senior Vice President, Finance and Investor Relations Verisk 201-469-4327 [email protected] Media Alberto Canal Verisk Public Relations 201-469-2618 [email protected]
Key Takeaways Cadence expects Q3 revenues of $1.595-$1.625 billion and non-GAAP EPS of $2.01-$2.07, driven by AI demand.Growing adoption of agentic AI tools and robust demand across EDA, IP and SDA are likely to support growth.CDNS benefits from strong backlog, though macro uncertainty and U.S.-China tensions remain concerns. Cadence Design Systems, Inc. (CDNS - Free Report) will release results for the third quarter of 2026 on Oct. 26.
The Zacks Consensus Estimate for third-quarter earnings is $2.04 per share, unchanged in the past 60 days. The consensus mark implies a 5.7% increase from the year-ago actual. The Zacks Consensus Estimate for revenues is pinned at $1.61 billion, indicating a nearly 20.3% uptick from the year-ago actual.
Management expects revenues to be $1.595-$1.625 billion for the third quarter. The company reported sales of $1.339 billion in the year-ago quarter. Non-GAAP EPS is anticipated to be between $2.01 and $2.07. The company reported an EPS of $1.93 in the year-ago quarter.
Cadence has an impressive earnings surprise history. The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 4.94%.
Price Performance
Image Source: Zacks Investment Research
CDNS stock has lost 7% in the past six months against the Computer-Software industry’s growth of 16.6%. The S&P 500 composite and the Zacks Computer and Technology sector have risen 7.5% and 8.6%, respectively, in the same time frame.
Factors Shaping CDNS’ Q3 ResultsBroad-based momentum across electronic design automation (“EDA”), IP and System Design & Analysis (“SDA”), supported by sustained demand for its AI-oriented portfolio amid robust design activity and new system architectures across hyperscaler infrastructure and physical AI, remains the key catalyst.
The company had a backlog of $8.1 billion at the second quarter-end driven by bookings momentum, while revenues expected to be recognized over the following 12 months from remaining performance obligations totaled $4.2 billion. This provides substantial visibility into future business performance. Cadence’s ratable software model and high mix of recurring revenues are other positives.
AI has been driving a major transformation in semiconductor and system design and Cadence is deeply integrated into this shift. Design activity across several verticals, especially data centers, drones, robotics and automotive, has been robust due to AI, hyperscale computing and 5G. The focus on Generative AI, Agentic AI and Physical AI has been leading to an exponential increase in computing demand and semiconductor innovation.
Rising customer R&D investments in AI-driven automation have been creating a favorable demand environment for Cadence.
On the last earnings call, management cited agentic AI as a durable tailwind. Cadence expects agentic tools to drive higher EDA consumption and usage across its platform as customers run more simulations, verification and implementation cycles, thereby expanding the addressable market. Management highlighted “strong early traction” for its AI Super-Agent portfolio.
Cadence's agentic AI portfolio includes ChipStack, ViraStack, and InnoStack. In September, the company introduced an RTL Generation Agent for its ChipStack AI Super Agent. The expanded capabilities, expected to become available to select early-access customers in the fourth quarter, strengthen the company's longer-term AI-driven growth prospects.
The company has been collaborating with several tech giants, including Qualcomm and NVIDIA, on their next-generation AI designs across both training and inference. Expanding partnerships with Samsung, Taiwan Semiconductor Manufacturing, Intel and Arm Holdings, bodes well.
Cadence expanded its collaboration with TSMC in September, securing tool certification for advanced A14 design tools and introducing additional silicon-proven IP for N3P and N2P technologies. In October, Cadence collaborated with NVIDIA and launched Europe's first sovereign AI platform for semiconductor, system and AI factory design.
Nonetheless, ongoing uncertainty prevailing over global macroeconomic conditions, especially U.S.-China tech tensions, along with stiff competition in the EDA space and inflation, remains a concern ahead of the third-quarter earnings. Management expects third-quarter non-GAAP operating margin between 43.5% and 44.5%, compared with 47.6% in the prior-year quarter.
A Look at SegmentsCore EDA business (which constitutes Custom IC, Digital IC and Functional Verification businesses) is likely to have gained from demand for the new hardware systems, especially among AI, automotive and high-performance computing clients. Continued adoption of Cadence's digital full-flow solutions, including Tempus and Certus signoff technologies, is likely to have cushioned the segment’s performance.
The SDA division is likely to have gained from the increasing demand for BETA CAE solutions, PCB and advanced packaging solutions and the integration of Hexagon's Design and Engineering business. Growing adoption of the AuraStack AI Super Agent, which automates PCB and advanced packaging design workflows, could further strengthen the division's prospects.
The IP business has been gaining from an expanding silicon solutions portfolio and increasing demand for solutions in AI and HPC use cases. The company has been witnessing higher demand for its Star IP portfolio across AI and HPC applications, including HBM, PCIe, UCIe and LPDDR6.
Earnings Whispers for CDNSOur proven model predicts an earnings beat for Cadence this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is exactly the case here.
CDNS currently has a Zacks Rank #2 and an Earnings ESP of +0.91%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Other Stocks to ConsiderHere are a few other stocks that you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat this season.
Seagate Technology Holdings plc (STX - Free Report) has an Earnings ESP of +2.49% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
STX is scheduled to report quarterly figures on Oct. 27, 2026. The Zacks Consensus Estimate for Seagate Technology’s to-be-reported quarter’s earnings and revenues is pinned at $7.40 per share and $4.11 billion, respectively. Shares of Seagate Technology are up 162.8% in the past year.
Intel (INTC - Free Report) currently has an Earnings ESP of +2.22% and a Zacks Rank #2. INTC is scheduled to report quarterly earnings on Oct. 29, 2026. The Zacks Consensus Estimate for Intel’s to-be-reported quarter’s earnings and revenues stands at 39 cents per share and $16.44 billion, respectively. Shares of Intel have gained 123.4% in the past year.
Vertiv (VRT - Free Report) has an Earnings ESP of +0.89% and a Zacks Rank #2 at present. The company is scheduled to report quarterly figures on Oct. 28, 2026. The Zacks Consensus Estimate for Vertiv’s to-be-reported quarter’s earnings and revenues is pinned at $1.82 per share and $3.76 billion, respectively. Shares of Vertiv are up 5.2% in the past year.
Marvell očekává v příštím fiskálním čtvrtletí tržby ve výši 3,15 mld. USD, ale konkurence ze strany tchajwanských návrhářů čipů tlačí na marže zakázkových AI čipů.
Marvell booked a record number of AI design wins and secured a partnership worth billions with Google, yet a wave of Taiwanese chip designers is quietly undercutting the margins that make those wins valuable.
Marvell Technology (NASDAQ:MRVL | MRVL Price Prediction) is a Hold at $223.47. Its AI growth outlook is still strong, but Taiwanese design houses are going after the same hyperscaler contracts.
Marvell is a fabless chip designer. It sells custom AI accelerators (XPUs), optical interconnect, and Ethernet switching to cloud giants. Its Data Center segment brought in $2.17B last quarter, which was 79% of revenue.
The stock is up 163.4% this year but has fallen 14.8% over the past month. That includes an 8.7% drop in the latest session. The selling began after an Investor Day where management raised its fiscal 2028 revenue outlook. Over the next five trading days, shares fell 17.2%.
Google’s $120 Billion Deal Powers the Upside Case
Second-quarter revenue came in at $2.739B, up 36.55%. Non-GAAP EPS of $0.94 beat the $0.9289 estimate. Guidance calls for $3.15B in revenue and $1.10 in EPS next quarter. Management expects the custom business to “more than double year over year in fiscal 2028 and accelerate significantly in fiscal 2029.”
Google expanded its partnership with Marvell and received a warrant to buy up to 7% of Marvell’s shares. On the earnings call, an analyst described the program as worth “$120 billion in cumulative revs over six years.” Management replied, “Your math is not wrong.” Non-GAAP operating margin should reach the 38% to 40% range in fiscal Q4. Against that growth, a PEG ratio of 1.387 looks reasonable.
Taiwan’s Chip Designers Are Coming at Marvell From Three Sides
MediaTek is the biggest threat. Under Google’s TPU v8 setup, Google designs the compute die and MediaTek supplies the I/O die. That split removes the 15%-20% markup charged under a turnkey model. Counterpoint Research projects that MediaTek will take 26% of AI ASIC server compute shipments by 2028, placing second behind Broadcom (NASDAQ:AVGO).
Alchip has long been seen as a contender for Marvell’s AWS XPU work, according to The Next Platform. SemiAnalysis notes that Trainium projects leave much less profit pool for design partners. Meanwhile, MediaTek, Global Unichip, and Alchip are escalating a funding war ahead of a hyperscaler ASIC production boom.
Price competition is starting to show in margins. Gross margin guidance of 57.5%-58.5% is below last quarter’s 58.9%, and management blamed the custom mix. The stock’s trailing earnings multiple is 81, with a beta of 2.26.
Record Guidance Meets an Unsettled Fight for Market Share
Management has raised guidance and booked a record number of design wins. That strength rules out a Sell. At the same time, the losing bid for Google’s compute die and the pressure on AWS margins rule out a Buy.
Two outside events could move the picture. Counterpoint’s forecast excludes a possible MediaTek win at Meta MTIA. MediaTek’s next TPU also relies on Intel packaging that faces execution risks.
Wall Street Sees 53% Upside After a Sharp Pullback
Marvell trades at $223.47. The consensus target of $341.63 implies 52.9% upside. Analyst targets are not guarantees. The shares sit 32.2% below their 52-week high of $329.73. Ratings from 46 analysts break down as follows:
Strong Buy: 8
Buy: 32
Hold: 6
Sell: 0
Over the past year, Marvell gained 176.18%, while the S&P 500 gained 14.41%. Over the past month, Marvell fell 14.8%, while the index slipped 1.21%. Forward P/E stands at 62.
Marvell Earns a Hold Until the Custom Ramp Shows Up
At $223.47, Marvell Technology is a Hold. The reasoning follows below.
Three things would support a Buy: fiscal Q3 revenue at or above the $3.15B midpoint, clear custom acceleration, and operating margin reaching the 38% range in Q4. Three things would support a Sell: AWS shifting orders toward Alchip, MediaTek winning Meta, or gross margin falling below guidance.
Waiting has a cost if the stock rebounds toward the target. Acting too early carries more risk, since a beta above 2 can produce deeper declines. Each quarter, investors should track custom revenue, gross margin, and any hyperscaler supplier changes.
Marvell’s growth is real, but Taiwan’s cheaper design model is still competing for those same contracts, and the next two earnings reports should show which side is winning.
Contact [email protected] for any questions or corrections.
Společnost Paychex v 1. čtvrtletí fiskálního roku 2027 zvýšila upravený zisk na akcii o 9,8 % na 1,34 USD a tržby o 5,9 % na 1,63 mld. USD, čímž překonala odhady.
It has been about a month since the last earnings report for Paychex (PAYX - Free Report) . Shares have added about 17% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Paychex due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.
Paychex's Q1 Earnings Beat EstimatesPaychex has reported an impressive first quarter of fiscal 2027, wherein earnings and revenues beat the Zacks Consensus Estimate.
PAYX has registered adjusted earnings of $1.34 per share, rising 9.8% year over year and beating the Zacks Consensus Estimate of $1.33 by a slight margin. Total revenues rose 5.9% to $1.63 billion, topping the consensus mark of $1.62 billion by a small margin.
The quarter benefited from higher revenue per client, stronger PEO worksite employee growth and increased PEO insurance volumes. PEO and Insurance Solutions remained the standout growth area, while the adjusted operating margin also expanded from the year-ago period.
PAYX's Management Solutions Revenues Rise 4%Management Solutions revenues increased 4% year over year to $1.21 billion in the fiscal first quarter. Growth was driven by higher revenues per client, reflecting price realization and greater product penetration.
The business remained Paychex's largest revenue contributor. Total service revenues advanced 6% year over year to $1.58 billion, supported by growth across Management Solutions and PEO and Insurance Solutions.
Paychex's PEO & Insurance Revenues Jump 12%Professional Employer Organization and Insurance Solutions revenues climbed 12% year over year to $367.6 million. Growth primarily reflected an increase in average PEO worksite employees and higher PEO insurance volumes.
Interest on funds held for clients increased 5% year over year to $49.8 million, aided by higher average interest rates. The improvement provided another source of revenue growth, alongside the company's payroll, human resources and benefit offerings.
PAYX's Margin Expansion Supports Profit GrowthTotal expenses increased 1% year over year to $1.01 billion, slower than revenue growth. Cost of service revenues rose 4% to $430.1 million, while selling, general and administrative expenses declined 1% to $581.2 million.
Operating income increased 14% to $619.2 million, lifting the operating margin to 38% from 35.2%. Adjusted operating income rose 9% to $684.7 million, while the adjusted operating margin improved to 42% from 40.7%.
Paychex's Net Income Rises as Acquisition Costs EaseNet income advanced 12% year over year to $429.7 million, while GAAP earnings increased 14% to $1.21 per share. Adjusted net income grew 9% to $479.2 million.
Acquisition-related costs declined to $65.5 million from $84.8 million a year earlier. The latest-quarter amount included $56.9 million of amortization tied to the Paycor acquisition, $8.5 million of acquisition and integration compensation costs, and $0.1 million of other acquisition-related costs.
PAYX's Cash Flow & Balance Sheet Stay in FocusCash flow from operations declined 42.4% year over year to $413.5 million. Paychex paid out $424.1 million in dividends, or $1.19 per share, during the fiscal first quarter.
As of Aug. 31, 2026, cash, restricted cash and total corporate investments stood at $1 billion. Long-term borrowings, net of debt issuance costs, were $4.6 billion, while total assets were $15.66 billion.
Paychex Advances WISE AI CapabilitiesPAYX continued to expand its WISE artificial intelligence platform and launched WISE Hire, an agentic recruiting solution. The company is embedding AI-enabled automation and insights across its human capital management platforms to support productivity and client outcomes.
Management also highlighted efforts to make WISE capabilities available within Microsoft business applications, wherein clients already work. The company views the broader deployment as part of its strategy to combine technology with advisory expertise across payroll, human resources and benefits.
PAYX Raises PEO & Client Funds OutlookFor fiscal 2027, Paychex continues to expect total revenue growth of 5-6% and Management Solutions revenue growth of 5-6%. It also maintained its adjusted operating margin forecast of about 44% and adjusted earnings growth outlook of 7-9%.
Management raised its PEO and Insurance Solutions revenue growth forecast to 7-8% from 6-7%. Interest on funds held for clients is expected to be $200-$210 million, up from the prior mentioned $195-$205 million. The effective income tax rate forecast remains about 24%.
Adjusted earnings of 99 cents per share beat the Zacks Consensus Estimate by 4.2% and increased 8.8% on a year-over-year basis. Total revenues of $1.2 billion also beat the Zacks Consensus Estimate by 0.5% and increased 7.4% year over year.
Revenues in Detail
Revenues from Management Solutions segment increased 8% year over year to $895.3 million. The segment benefited from growth in the number of client employees served for human capital management (HCM) and additional worksite employees for HR Solutions. Also, improved revenue per client on price realization and higher product penetration, strong demand for HR Solutions, retirement, time and attendance solutions and expansion of HCM ancillary services acted as tailwinds.
Professional employer organization (“PEO”) and Insurance Solutions’ revenues were $273.3 million, up 4% from the year-ago quarter’s level. The uptick was owing to growth in the number of average worksite employees. Interest on funds held for clients increased 54% year over year to $21.7 million.
Operating Performance
Operating income increased 7% year over year to $472.3 million. EBITDA of $518.6 million increased 4.7% year over year.
Balance Sheet & Cash Flow
Paychex exited second-quarter fiscal 2022 with cash and cash equivalents of $1.1 billion compared with $1.18 billion reported at the end of the prior quarter. Long-term debt was $797.9 million compared with $797.8 million in the prior quarter. Cash provided by operating activities was $321.6 million in the reported quarter. During the reported quarter, PAYX paid out $284.7 million as dividends.
Fiscal 2023 View Tweaked
Paychex upped its adjusted earnings per share view with respect to year-over-year growth for fiscal 2023. Adjusted EPS is now expected to register 12-14% growth compared with the prior expectation of 11-12% growth. PAYX continues to expect total revenues to register 8% (prior view: 7-8%) growth. Management Solutions’ revenues are expected to grow 7-8% (prior view: 5-7%). PEO and Insurance Solutions’ revenues are expected to grow 5-7% (prior view: 8-10%).
How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.
VGM ScoresAt this time, Paychex has a subpar Growth Score of D, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Paychex has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Společnost New Jersey Resources (NJR) má ESP zisku ve výši +2,85 % a Zacks Rank #3; v posledních dvou čtvrtletích překonala odhady zisku v průměru o 49,87 %.
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? New Jersey Resources (NJR - Free Report) , which belongs to the Zacks Utility - Gas Distribution industry, could be a great candidate to consider.
This energy services holding company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 49.87%.
For the last reported quarter, New Jersey Resources came out with earnings of $0.11 per share versus the Zacks Consensus Estimate of $0.06 per share, representing a surprise of 83.33%. For the previous quarter, the company was expected to post earnings of $1.89 per share and it actually produced earnings of $2.2 per share, delivering a surprise of 16.40%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for New Jersey Resources. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
New Jersey Resources currently has an Earnings ESP of +2.85%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Paylocity v posledním čtvrtletí překonala konsenzuální odhad zisku na akcii o 19,48 %; ukazatel Earnings ESP ve výši +2,07 % naznačuje možnost dalšího překonání odhadů.
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Paylocity (PCTY - Free Report) , which belongs to the Zacks Internet - Software industry, could be a great candidate to consider.
When looking at the last two reports, this provider of cloud-based payroll and human-resources software services has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 19.21%, on average, in the last two quarters.
For the last reported quarter, Paylocity came out with earnings of $1.84 per share versus the Zacks Consensus Estimate of $1.54 per share, representing a surprise of 19.48%. For the previous quarter, the company was expected to post earnings of $2.43 per share and it actually produced earnings of $2.89 per share, delivering a surprise of 18.93%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Paylocity. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Paylocity has an Earnings ESP of +2.07% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on November 5, 2026.
With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Dominion Energy (D - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 30. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis energy company is expected to post quarterly earnings of $1.19 per share in its upcoming report, which represents a year-over-year change of +12.3%.
Revenues are expected to be $4.78 billion, up 5.6% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Dominion Energy?For Dominion Energy, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +3.29%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Dominion Energy will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Dominion Energy would post earnings of $0.73 per share when it actually produced earnings of $0.79, delivering a surprise of +8.22%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Dominion Energy appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsAmong the stocks in the Zacks Utility - Electric Power industry, WEC Energy Group (WEC - Free Report) , is soon expected to post earnings of $0.95 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +14.5%. This quarter's revenue is expected to be $2.23 billion, up 6% from the year-ago quarter.
The consensus EPS estimate for WEC Energy has been revised 2.4% lower over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +2.89%.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that WEC Energy will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Key Takeaways F5 forecasts Q4 fiscal 2026 revenues of $870-$890 million, suggesting top-line growth of 9%.Systems demand may benefit from data center expansion, AI workloads and infrastructure modernization.F5's Earnings ESP of 0.00% and Zacks Rank #3 do not signal a likely earnings beat under its model.
F5 Inc. (FFIV - Free Report) is scheduled to report fourth-quarter fiscal 2026 results on Oct. 27, after market close.
For the fourth quarter of fiscal 2026, F5 projects non-GAAP earnings per share (EPS) in the range of $4.14-$4.26 (midpoint of $4.20). The Zacks Consensus Estimate for the same is pegged at $4.24, suggesting a year-over-year decline of 3.2%. The figure has remained unchanged for the past 60 days.
FFIV’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average earnings surprise of 16.09%.
FFIV projects its fourth-quarter fiscal 2026 non-GAAP revenues in the range of $870-$890 million. The Zacks Consensus Estimate for the same is pegged at $884.4 million, suggesting year-over-year growth of 9.2%.
Factors to Consider for F5 StockF5’s performance in the fiscal fourth quarter is likely to have benefited from sustained demand for its application delivery and security solutions as enterprises continue to modernize their IT infrastructure and adopt hybrid and multi-cloud architectures. The rising need to distribute workloads across on-premises data centers and cloud environments is expected to support demand for F5’s flexible application delivery offerings. Increasing AI adoption and the need to manage data-intensive workloads could further strengthen this trend.
Demand for F5’s Systems products is expected to have remained a key contributor to product performance in the to-be-reported quarter. Customers are increasingly investing in higher-performance infrastructure to support expanding data-center capacity, improve application availability and prepare their environments for AI workloads. Ongoing infrastructure modernization, workload repatriation and platform consolidation initiatives are likely to have supported demand for the company’s BIG-IP offerings. However, the sustainability of hardware demand beyond customer refresh cycles remains an important factor to watch.
The Software segment is likely to have benefited from continued traction in subscription-based offerings, including BIG-IP and NGINX. Enterprises seeking to improve application performance, automate network operations and strengthen security across distributed environments are expected to have favored integrated solutions that offer flexibility and lower operational complexity. F5’s transition toward subscription-based software could support recurring revenue generation and improve revenue visibility over time. However, the pace of software growth might have remained uneven, depending on renewal timing, customer spending priorities and the adoption of new offerings.
Growing demand for application security solutions is also expected to have supported F5’s performance. As enterprises expand their use of cloud applications, APIs and AI-powered tools, the need to protect applications against automated attacks, fraud and emerging security threats is likely to increase. F5’s Distributed Cloud Services and AI Security Platform offerings could help the company capitalize on these requirements. Recent product enhancements and partnerships aimed at securing AI applications, models and agents are expected to broaden its opportunities as organizations seek greater visibility and control over enterprise AI deployments.
Nevertheless, slower growth in perpetual software licenses and cautious enterprise IT spending amid macroeconomic uncertainty could have limited the overall pace of expansion. Higher memory and storage costs, supply-chain pressures and competitive pricing could also weigh on Systems demand and profitability. In addition, acquisition integration requirements and lingering costs associated with the previously disclosed cyber incident may remain sources of execution risk. While recurring software revenues and demand for application security are likely to have provided support, these headwinds might have tempered the benefits from F5’s expanding cloud and AI opportunities.
What Our Model SaysOur proven model does not conclusively predict an earnings beat for F5 this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
F5 has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable CombinationHere are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Cadence Design Systems (CDNS - Free Report) , Seagate Technology (STX - Free Report) and Amphenol (APH - Free Report) are some stocks with favorable combinations.
Cadence Design Systems has an Earnings ESP of +0.91% and carries a Zacks Rank #2 at present. CDNS is slated to report its third-quarter 2026 results on Oct. 26. You can see the complete list of today’s Zacks #1 Rank stocks here.
Seagate Technology has an Earnings ESP of +2.49% and sports a Zacks Rank #1 at present. Seagate Technology is set to report its first-quarter fiscal 2027 results on Oct. 27.
Amphenol has an Earnings ESP of +1.72% and a Zacks Rank #2 at present. Amphenol is set to report its third-quarter 2026 results on Oct. 28.
Akcie společnosti Winnebago tento týden vzrostly o 16 % poté, co upravený zisk na akcii za fiskální čtvrté čtvrtletí dosáhl 0,49 USD a překonal očekávání ve výši 0,47 USD.
Fiscal fourth-quarter adjusted earnings that beat consensus estimates, alongside a multi-year cost-cutting plan, sent Winnebago Industries (WGO -2.06%) soaring 16% this week.
Winnebago Industries stock changed hands at $27.35 as of Friday morning, up 16% this week from last Friday's close. Over the same period, the S&P 500 (^GSPC -0.30%) was down 0.5%, and the Nasdaq-100 was down 0.8%.
Image source: Winnebago.
Cost cuts and fiscal 2027 guidance lift Winnebago stockThe recreational vehicle maker reported fiscal fourth-quarter revenue of $645.1 million, a 17% year-over-year decline, reflecting soft consumer demand across the outdoor recreation market. Despite top-line pressure, adjusted earnings per share (EPS) of $0.49 topped consensus estimates of $0.47. To protect profitability in a sluggish market, management announced a reduction in manufacturing capacity and outlined plans to generate $70 million to $80 million in cumulative gross cost savings through fiscal 2029.
Winnebago Industries manufactures recreational vehicles, motorhomes, travel trailers, and premium boats, which are sold through a network of independent dealers to outdoor enthusiasts. Beyond its flagship RV models, the company operates premium marine brands like Chris-Craft and Barletta, as well as an expanding aftermarket parts business. By consolidating towable RV production into lower-cost sites, management aims to preserve margins even if retail sales volumes stay muted across North America.
Looking ahead, management issued fiscal 2027 guidance, expecting adjusted EPS between $1.65 and $2.25 and revenue between $2.65 billion and $2.80 billion. The projected earnings growth at the midpoint depends primarily on internal efficiency gains, site consolidations, and cost discipline rather than an immediate rebound in retail RV shipments. This week's guidance and cost-cutting plan shifts the thesis from enduring cyclical RV weakness to benefiting from operational efficiency and margin expansion.
What's next for Winnebago IndustriesInvestors will be watching whether dealer destocking eases and whether cost reductions begin to trickle down to operating margins when Winnebago Industries reports fiscal 2027 first-quarter results, expected in late December. The stock trades at a trailing price-to-earnings (P/E) ratio of 22.6 on its $780 million market capitalization, a valuation that assumes management can deliver on its promised efficiency gains while preserving market share. While the company held $181.4 million in cash and short-term investments as of Aug. 29, 2026, relatively high debt and elevated dealer inventory risks remain key headwinds if broader consumer spending contracts further.
$27.98-$0.59 (-2.06%)
NYSE · As of 12:56 PM ET 10/23/26
Is Winnebago Industries Stock a Buy?Winnebago is operating in a tough environment. Consumer spending is tight, and elevated fuel prices are another headwind. The company is navigating it through operational efficiencies and cost reductions.
Fiscal 2027 guidance targets adjusted EPS between $1.65 and $2.25, signaling a partial operational earnings recovery. Cash flow provided by operations in fiscal Q4 was $142.5 million. With the stock declining by over 30% year to date, the dividend yield now sits above 5%. That payment should be covered by operating cash flow, however. The company increased the dividend by 3% in August, but it still only amounts to about $41 million per year.
An ongoing decline in sales could change that, though. The stock jump this week signals investors see signs of a recovery in the business. While business risks remain, Winnebago stock could be a good place for value investors to allocate funds now.
RBC Bearings očekává za čtvrtletí zisk 3,55 USD na akcii, což představuje meziroční nárůst o 23,3 %, a tržby ve výši 516,18 milionu USD, meziročně vyšší o 13,4 %.
The market expects RBC Bearings (RBC - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 30. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis maker of bearings and components is expected to post quarterly earnings of $3.55 per share in its upcoming report, which represents a year-over-year change of +23.3%.
Revenues are expected to be $516.18 million, up 13.4% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.06% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for RBC Bearings?For RBC Bearings, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.22%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that RBC Bearings will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that RBC Bearings would post earnings of $3.42 per share when it actually produced earnings of $3.88, delivering a surprise of +13.45%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
RBC Bearings doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAmong the stocks in the Zacks Manufacturing - General Industrial industry, Ingersoll Rand (IR - Free Report) , is soon expected to post earnings of $0.89 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +3.5%. This quarter's revenue is expected to be $2.04 billion, up 4.5% from the year-ago quarter.
The consensus EPS estimate for Ingersoll has been revised 0.3% lower over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -0.28%.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Ingersoll will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
