Track market-moving stories before they get noisy

CrowdStrike (CRWD +4.15%) stock soared to a new closing high of $227.96 last Thursday, Aug. 27, after the company reported a blockbuster set of quarterly operating results on Wednesday evening. The stock has now returned a whopping 94% in 2026, obliterating the benchmark S&P 500, which is up just 13%.

CrowdStrike's Falcon platform is one of the cybersecurity industry's only all-in-one enterprise solutions for protecting cloud networks, employee identities, endpoints, and everything in between. Holistic protection has never been more important, as malicious actors now use artificial intelligence (AI) to rapidly identify vulnerabilities in corporate networks. As a result, CrowdStrike believes its addressable market will more than double to $325 billion between now and 2030.

But does that mean investors should buy its stock at an all-time high? Read on for the surprising answer.

Image source: Getty Images.

The Falcon platform is rapidly expanding The cybersecurity industry used to be highly fragmented, with vendors specializing in one or two specific products. Therefore, enterprises had to buy products from multiple providers to achieve adequate protection, but these programs rarely worked well together, leaving gaping holes in their defenses. That is simply unacceptable in the AI era, which is why Falcon is so popular.

Enterprises can choose from 33 modules (products) to build their ideal version of Falcon, and with the Flex subscription, they can set a fixed annual budget and change modules as their needs evolve.

While malicious actors are using AI to stage sophisticated cyberattacks, enterprises are also placing themselves at risk every time they deploy an AI chatbot, agent, or other software application. Chatbots, for example, can be vulnerable to a technique called prompt injection, in which a hacker instructs the application to ignore its guardrails by disguising malicious requests as legitimate prompts. In some cases, they can convince the chatbot to hand over sensitive data or grant them access to restricted networks.

CrowdStrike launched a Falcon module called AI Detection and Response (AIDR) to combat those threats. It tracks all inputs and outputs from every trusted AI application, so it can detect anyone trying to orchestrate a breach through prompt injection. Plus, it can uncover unauthorized agents or chatbots operating within the organization, allowing them to be shut down immediately.

During CrowdStrike's recent fiscal 2027 second quarter (ended July 31), the annual recurring revenue attributable to AIDR nearly tripled compared to the first quarter just three months earlier, indicating a mind-blowing amount of demand for this product.

Premium Feature

Moneyball Superscore

85/100

Today's Change

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CrowdStrike's revenue growth just accelerated again CrowdStrike had $5.84 billion in total ARR at the end of the second quarter, a 25% increase from the year-ago period. The Falcon Flex subscription accounted for $2.29 billion of that ARR and grew at a much faster rate of 101%, so the ability to add and remove modules is clearly resonating with customers.

Overall, Q2 was the fourth consecutive quarter in which CrowdStrike's total ARR growth accelerated, so the business is carrying significant momentum. As a result, management increased its full-year ARR forecast for fiscal 2027 by $64 million to $6.607 billion (at the midpoint of the guidance range).

CrowdStrike's valuation could limit returns for investors There is no guarantee that CrowdStrike's stellar operating results will translate into further upside in its stock, because valuation matters. CrowdStrike currently has a price-to-sales (P/S) ratio of 43.5, which is not only a record high but also nearly four times its historical average of 11 since its stock went public in 2019.

CRWD PS Ratio data by YCharts

CrowdStrike stock is now seven times as expensive as the Nasdaq-100, which has a P/S ratio of 6.2. Moreover, it's significantly more expensive than its closest competitor, Palo Alto Networks, which has a P/S ratio of 26.4.

As a result, investors who buy CrowdStrike stock hoping for a strong return over the next 12 months or so might be disappointed, because its valuation leaves very little (if any) room for upside.

However, CrowdStrike believes it can grow its ARR more than threefold to $20 billion by fiscal 2036, which could deliver positive returns for investors willing to stick around for the next decade or so. Therefore, whether or not CrowdStrike stock is a buy might depend entirely on an individual's time horizon.

Key Takeaways FuelCell Energy's Q3 revenues are expected to fall 16.3% year over year to $39.1 million.Six South Korean module deliveries were projected to generate about $18 million in repowering revenues.Generation may stay pressured as the 7.4-MW Groton Navy project remained offline for upgrades. FuelCell Energy (FCEL - Free Report) is slated to release fiscal third-quarter 2026 results on Sept. 2, before market open.

The Zacks Consensus Estimate for revenues is pegged at $39.1 million, implying a decrease of 16.3% from the year-ago quarter. The consensus bottom line mark of -$0.32 per share has remained unchanged over the past seven days, suggesting a 66.3% jump from the year-ago reported number.

For full fiscal year 2026, the Zacks Consensus Estimate for FCEL’s revenues is pegged at $153.7 million, implying a decline of 2.8% year over year. The consensus mark for fiscal 2026 loss per share stands at $1.58, indicating a surge of 64.2%.

FCEL's Earnings Surprise History

In the last reported quarter, the company delivered an earnings surprise of -20.5%. FuelCell Energy’s results beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in the other, with the average surprise being 14.4%.

Q3 Earnings Whispers for FuelCell Energy

The proven Zacks model does not conclusively show that FCEL is likely to beat estimates in the fiscal 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 beating estimates. But that’s not the case here.

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

Earnings ESP: FuelCell Energy has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at -$0.32 per share each.

Zacks Rank: FCEL currently carries a Zacks Rank of 3, which increases the predictive power of ESP. However, the company’s 0.00% ESP makes surprise prediction difficult this earnings season.

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

Factors Shaping FCEL’s Upcoming Q3 Results

FuelCell Energy’s Product business likely benefited from planned deliveries to customers in South Korea. The company expected six Gyeonggi Green Energy modules to be delivered in the fiscal third quarter, which were projected to generate about $18 million in Korean repowering revenues during the period. This matches the Zacks Consensus Estimate of $18 million for product revenues. The scheduled shipments gave FuelCell Energy better visibility into quarterly sales and may have reduced uncertainty around this part of the business. Broader demand for reliable, on-site power also remained encouraging, with Bloom Energy (BE - Free Report) seeing strong data-center demand and Plug Power (PLUG - Free Report) expecting a stronger second half of 2026. 

FuelCell Energy’s ‘Advanced Technologies’ business may have also contributed positively. The consensus mark is $4.95 million compared with $4.72 million reported in the fiscal second quarter. The company delivered two carbon-capture modules to Rotterdam for work with ExxonMobil, moving the project closer to a planned demonstration in late 2026. FuelCell Energy also had $15.4 million of Advanced Technologies backlog at the end of April, with most of it connected to the ExxonMobil program. These projects could have supported steady research and development revenues. Meanwhile, Bloom Energy and Plug Power also reported continued activity across clean-power and hydrogen projects, pointing to healthy interest in alternative-energy technologies.  

But on a somewhat bearish note, FCEL’s Generation business likely remained under pressure because its 7.4-MW Groton Navy project was not operating and required an equipment upgrade. The company had already said that lower output from Groton reduced generation revenues in the fiscal second quarter. That weakness could have continued into the quarter to be reported if repairs and upgrades took longer than expected. The Zacks Consensus Estimate for generation revenues is $11.31 million, noticeably above the $8.68 million reported in the preceding quarter, so achieving that recovery may be challenging. Service revenues may not have provided much help either, as the next scheduled long-term service agreement module replacement is expected only in the fiscal fourth quarter of 2026.

FCEL Price Performance & Stock Valuation

Shares of FuelCell Energy have gone up 142.9% in the year-to-date period compared with Bloom Energy’s growth of 142.5%. Meanwhile, Plug Power stock has gained a modest 11.1%.

Image Source: Zacks Investment Research

From a valuation perspective — in terms of trailing price-to-book ratio — FCEL is trading at a discount compared to the industry average.

Image Source: Zacks Investment Research

How Should You Play FuelCell Energy Pre-Q3 Earnings?

FuelCell Energy heads into its fiscal third-quarter report with a mixed setup. Planned South Korean deliveries, including six Gyeonggi Green Energy modules expected to generate about $18 million in quarterly repowering revenues, could have supported the Product business. Advanced Technologies may also have benefited from continued work with ExxonMobil, backed by $15.4 million of backlog and progress on the Rotterdam carbon-capture project.

However, the Generation segment likely remained a weak spot as the 7.4-MW Groton Navy project stayed offline for upgrades, potentially making the $11.31 million consensus revenue target difficult to achieve. With overall revenues expected to decline year over year, an Earnings ESP of 0.00% and shares already up sharply year to date, the near-term risk-reward appears balanced despite FCEL’s discounted valuation and longer-term opportunities in data centers and carbon capture.

BitMEX will move into strict risk-limit mode on August 26 as part of its planned exchange wind-down.

Starting at 04:00 UTC, users will only be able to close or reduce existing positions. New positions will no longer be allowed. Trading services are scheduled to permanently cease on September 23 at 04:00 UTC, according to the exchange’s official notice.

BitMEX has described the process as a voluntary and orderly business wind-down following a strategic review.

That distinction matters.

The announcement should not be framed as insolvency, bankruptcy, or regulatory enforcement unless the company says so. The current message is that BitMEX is winding down operations on a controlled timeline.

TL;DR BitMEX will enter close-only risk-limit mode on August 26 at 04:00 UTC. Users will not be able to open new positions after that point. Trading services are scheduled to permanently cease on September 23 at 04:00 UTC. Why Close-Only Mode Matters Close-only mode is a major step in any exchange wind-down.

It prevents new risk from being added while giving users time to reduce exposure. That helps the platform manage open interest, margin, liquidation risk, and settlement obligations before the final shutdown date.

For traders, the message is practical.

Open positions need attention. Users should understand deadlines, withdrawal processes, settlement mechanics, and any fees or restrictions that apply during the wind-down period.

Waiting until the final days can create unnecessary risk.

BitMEX Was Once A Defining Crypto Venue BitMEX has a major place in crypto market history.

For years, it was one of the most influential derivatives platforms in the industry. Its perpetual swap products, leverage culture, and trader community helped shape how crypto derivatives developed.

The exchange’s wind-down therefore carries symbolic weight.

It shows how much the market has changed. Competition has intensified, regulatory expectations are higher, and liquidity has spread across centralized exchanges, decentralized perpetuals platforms, and regulated futures venues.

BitMEX is no longer the dominant force it once was.

Risk Limits Protect The Wind-Down The strict risk-limit phase gives the platform a more controlled path toward closure.

If users could keep opening new positions until the final moment, the exchange would face more operational complexity. Close-only mode reduces that risk by gradually shrinking exposure.

This is especially important for derivatives.

Leverage, margin requirements, liquidation engines, and funding mechanics can create problems if a platform winds down too abruptly. A staged approach can reduce market disruption and give users time to act.

Not A Token Delisting Story This is not the same as a single token delisting.

A token delisting affects a specific market. An exchange wind-down affects the entire trading venue or defined platform scope. That makes user communication and operational planning more important.

Traders should check the exchange’s official notices directly.

Deadlines, withdrawal windows, account restrictions, and position management instructions matter more than secondary commentary.

What Comes Next The next key date is August 26.

Once close-only limits begin, BitMEX users will lose the ability to open new positions. The final trading-services deadline on September 23 will then become the main shutdown milestone.

For the wider market, the wind-down is another sign that crypto exchange competition is maturing.

Some venues are growing. Some are consolidating. Some are exiting. Traders are moving across regulated products, offshore platforms, and decentralized derivatives markets.

BitMEX’s planned closure marks the end of one chapter in crypto derivatives — and a reminder that even historically important exchanges are not guaranteed permanent relevance.

This article is based on BitMEX’s official wind-down notice and related exchange materials.

This article was written by the News Desk and edited by Samuel Rae.

Investment reflects 10.5% equity interest in Operating Aerospace-Spec LNG Producer Positioned for the U.S. Space Launch Buildout  | Source: Datacentrex Inc.

Eagle LNG produces high-methane, aerospace-specification LNG required by the next generation of American reusable launch vehiclesInvestment is being made concurrently with, and at the same value per unit as, a $10 million commitment by an affiliate of The Energy & Minerals Group (“EMG”). Funds managed by EMG are Eagle LNG’s controlling sponsor and an existing investor in the business SALT LAKE CITY, Aug. 31, 2026 (GLOBE NEWSWIRE) -- Datacentrex, Inc. (“Datacentrex” or the “Company”) (Nasdaq: DTCX) today announced that it has entered into a Common Unit Purchase Agreement and invested $30 million in ELNG Equity LLC (“ELNG”), the equity holding company of Eagle LNG Partners LLC (“Eagle LNG”), acquiring $30 million of Class A Common Units. Eagle LNG is a vertically integrated producer of liquefied natural gas and a qualified supplier of the aerospace-specification liquid methane used to fuel next-generation American launch vehicles.

An Operating Business, Not a Development Project

Eagle LNG has been producing and delivering LNG since 2017 and serves a contracted customer base across space propulsion, marine bunkering, island utility and industrial end-markets under long-term take-or-pay supply agreements with a weighted average tenor of approximately 15 years. Since 2018 it has completed more than 700 LNG bunkering operations, both ship-to-shore and ship-to-ship, without incident.

“We are focused on companies producing real revenue in ultra-high-growth sectors, and we intend to be at the forefront of them,” said Parker Scott, Chief Executive Officer of Datacentrex. “Eagle LNG is not a concept. It has been producing and delivering LNG since 2017 and it is already under contract with a leading space propulsion customer. The United States is setting out to multiply its launch cadence several times over this decade, and every one of those vehicles has to be fueled. We would rather own a position in the supply chain underneath that growth than try to pick which vehicle wins.”

About Datacentrex, Inc.

Datacentrex, Inc. is a diversified technology-driven enterprise operating a digital asset mining business across high-growth sectors including digital-asset infrastructure, data-center operations, and energy and space-launch infrastructure. Datacentrex, Inc. intends to pursue selective investments, partnerships, and acquisitions to drive innovation and value creation. For additional information, please refer to the Company’s filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov.

Visit Datacentrex’s investor relations website at https://ir.datacentrex.com/.

About Eagle LNG Partners

Eagle LNG Partners is a Jacksonville, Florida–based developer and operator of small-scale LNG infrastructure serving space propulsion, marine bunkering, island utility and industrial customers across the southeastern United States and the Caribbean. Eagle LNG was formed in 2013 and is controlled by The Energy & Minerals Group.

Forward-Looking Statements Disclaimer

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the anticipated benefits of the investment; Eagle LNG’s planned expansion projects and their expected cost, timing and capacity impact; the expected commencement of contract volumes; projected growth in space propulsion, launch cadence, marine bunkering or other LNG demand; the effect of governmental policy on commercial space activity; Eagle LNG’s ability to convert unfilled demand or rights of first refusal into contracted volumes; the potential for future strategic transactions involving Eagle LNG; and Datacentrex’s future financial condition, results of operations, business operations and business prospects, are forward-looking statements. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements.

All forward-looking statements are subject to important factors, risks, uncertainties, and assumptions, including industry and economic conditions that could cause actual results to differ materially from those described in the forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to: the illiquid, non-controlling nature of the Company’s interest and the absence of any public market for the Class A Common Units, and the resulting risk of loss of all or a portion of the investment; the absence of any obligation or committed timetable for ELNG to pursue an initial public offering or other liquidity event, and the possibility that no such transaction occurs, that it is delayed or completed on terms unfavorable to existing holders, or that it does not result in liquidity for the Company’s units, which may remain subject to lock-up, conversion and transfer restrictions; the Company’s limited ability to influence Eagle LNG’s management, strategy, capital structure or distribution policy; Eagle LNG’s substantial existing indebtedness and preferred equity, and its ability to service, refinance or repay those obligations; delays, cost overruns or permitting, siting or construction risk affecting the Talleyrand second berth, the Maxville de-bottlenecking program, or any future liquefaction capacity; the possibility that de-bottlenecking does not achieve expected production capacity; customer concentration and the commencement, renewal, modification, non-performance or early termination of customer contracts, including termination rights exercisable on limited notice; the fact that a right of first refusal does not obligate any counterparty to purchase any volumes; the early-stage and capital-intensive nature of the commercial space launch industry and its dependence on third-party launch cadence, vehicle qualification and government programs outside Eagle LNG’s control; the possibility that announced governmental objectives regarding launch cadence are not achieved, are modified, or do not translate into demand for Eagle LNG’s products; volatility in natural gas, LNG and competing marine fuel prices; changes in tax credits, tariffs, export authorizations and other governmental policies affecting LNG; the reliance of statements in this release regarding Eagle LNG on information provided by Eagle LNG, which the Company has not independently verified; the effect of the investment on the Company’s liquidity and capital resources; volatility in the prices of Dogecoin, Litecoin, Bitcoin and other digital assets and increases in Scrypt network difficulty; and volatility of Datacentrex’s stock price.

Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The risks and uncertainties that Datacentrex has described are not the only ones Datacentrex faces. Additional risks and uncertainties not presently known to Datacentrex or that Datacentrex currently deems immaterial may also affect Datacentrex’s operations. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Except as required by law, Datacentrex undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Company Contact

Datacentrex Investor Relations

[email protected]

800-403-6150

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Ethereum developers have issued an alert for L1 contract users on the ETH mainnet as the Glamsterdam upgrade progresses.

In a recent post, the Ethereum Foundation gave a heads-up for anyone maintaining L1 contracts ahead of the Glamsterdam upgrade scheduled for Q4 2026.

Heads-up for anyone maintaining L1 contracts:
→ The Glamsterdam upgrade will include gas repricings (EIP-8037, EIP-8038) that shift state creation and access costs.
→ Most contracts are unaffected, but a small set may break or degrade without updates. Affected contracts rely on…

HOT Stories

— Ethereum Foundation (@ethereumfndn) August 25, 2026 The Glamsterdam upgrade will include gas repricings (EIP-8037, EIP-8038), which will shift state creation and access costs.

While most contracts are unaffected, Ethereum developers warn that a small set may break or degrade without updates. Affected contracts rely on assumptions that the new schedule changes, such as hardcoded gas values.

EIP-8037 and EIP-8038, both anticipated for inclusion in the Glamsterdam upgrade, will modify the cost of creating and accessing state, allowing gas costs to better reflect the actual work required for each operation.

Replaying historical mainnet transactions under the new schedule reveals that a tiny set of smart contracts rely on assumptions the new schedule shifts, potentially causing these contracts to break or degrade without preventative upgrades.

The bulk of highlighted concerns are resolved with an increase in the gas limit, and the large majority of smart contracts remain unaffected, while direct outreach to the most-affected builders is already underway.

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Gas prices for state operations were last adjusted in the Berlin fork in 2021, following which Ethereum's state has grown significantly.

Repricing state operations to reflect their actual cost is a prerequisite for increasing the gas limit further. The new schedule is derived from a performance target that supports roughly a 3x increase in base throughput.

About GlamsterdamEthereum's upcoming Glamsterdam upgrade aims to pave the way for the next generation of scaling. Glamsterdam is named from the combination of "Amsterdam" (execution layer upgrade) and "Gloas" (consensus layer upgrade).

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Following the Fusaka upgrade, Glamsterdam focuses on scaling the L1 by reorganizing how the network handles transactions and manages its huge database, substantially changing how Ethereum generates and verifies blocks.

The 115,000-square-foot facility more than doubles AGCO's West Coast parts capacity, putting more critical parts within fast reach of dealers and farmers.

, /PRNewswire/ -- AGCO (NYSE: AGCO) will open a new, expanded Parts Distribution Center in Visalia, Calif., on September 1, 2026, significantly increasing the range of parts stocked for farmers and dealers across the western United States. Located in the heart of West Coast agriculture, the modern facility replaces AGCO's existing Visalia location and is designed to improve parts availability, accelerate delivery times and strengthen service for farmers and dealers across the western United States. A grand opening of the facility is planned for the first quarter of 2027.

AGCO’s new 115,000-square-foot Parts Distribution Center in Visalia, Calif., more than doubles the company’s West Coast parts capacity, stocking more high-demand parts closer to western dealers and farmers. The expanded location is designed to improve availability, speed delivery times and help keep farmers running when every hour counts. "We reimagined every step of how parts move, from receiving to shipping, and built the systems to match, including advanced automation, smarter forecasting and a deeper local inventory," said Stefan Caspari, Senior Vice President, Customer Success and North American Ag, AGCO. "For our dealers and farmers, this means more of the parts they need are on the shelf and closer to home, giving them greater confidence that the right part will be there when it matters most."

The new 115,000-square-foot distribution center, visible from the Golden State Highway, more than doubles the size of AGCO's operation in the region. Expanded stocking capacity, advanced warehouse automation and improved forecasting will enable AGCO to stock a broader range of high-demand parts closer to customers. Strategically located in California's Central Valley, the center will support dealers and farmers across the western United States and AGCO's full brand portfolio, including Fendt™ and Massey Ferguson™.

AGCO dealers like Pat O'Neill, VP, Ag & Lift of Quinn Company are excited about the benefits the new center will bring their customers. "A parts center of this caliber in our backyard is a game changer," said O'Neill. "AGCO stocking more parts closer to home means we can get farmers the parts they need the same day, a real win for growers across California and the entire West Coast."

The facility reflects a long-term investment in AGCO's Farmer-First strategy and its growth across North America. AGCO designed the operation from the ground up, leveraging advanced storage systems, specialized material handling equipment and digital infrastructure to support the region's needs and AGCO's e-commerce growth for more than 20 years. The facility features vertical lift modules; high-density, narrow-aisle racking; dedicated storage for oversized components; rooftop solar power; and electric vehicle charging stations.

The Visalia project took shape over four years of network analysis, design and collaboration across AGCO's global organization, making it one of the most advanced parts facilities in the company. Its opening on September 1 lays the foundation for AGCO's continued growth across the western United States.

For more information regarding AGCO and its popular brands, visit AGCOcorp.com.

Fendt and Massey Ferguson are trademarks of the AGCO Group of Companies.

About AGCO
AGCO (NYSE: AGCO) is a global leader in agricultural machinery and precision agriculture technologies. Driven by a Farmer-First strategy, AGCO delivers value through its differentiated leading brands, Fendt™, Massey Ferguson™, PTx™ and Valtra™.  AGCO's high-performance equipment and smart farming solutions, including brand-agnostic retrofit technologies and autonomous offerings, empower farmers to drive productivity while sustainably feeding the world. For more information, visit www.agcocorp.com.  

SOURCE AGCO Corporation

 | Source: Axsome Therapeutics, Inc.

NEW YORK, Aug. 31, 2026 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company leading a new era in the treatment of central nervous system (CNS) disorders, today announced that the first patient has been dosed in the SUMMIT Phase 3 trial of AXS-05 for smoking cessation.

SUMMIT (Studying NMDA and Sigma-1 in Smoking Cessation Treatment) is a Phase 3 randomized, double-blind, active- and placebo-controlled, multicenter trial to assess the efficacy and safety of AXS-05 as a smoking cessation treatment in adults. Active smokers will be randomized in a 1:1:1 ratio to receive AXS-05, bupropion, or placebo for approximately 12 weeks. The primary endpoint will be smoking abstinence at the end of the 12-week treatment period.    

About Smoking Cessation

Approximately 34 million adults in the U.S. smoke cigarettes and more than half of those live with a smoking-related disease.1 Smoking is the single largest cause of preventable disease in the U.S., accounting for 1 in 5 deaths.2 The overall cost of smoking exceeds $300 billion annually in the U.S. making it a significant health-economic need.1 Nearly 70% of adult smokers say they want to quit but only 3-5% who attempt to quit without assistance are successful for 6-12 months.1,3

About AXS-05

AXS-05 (dextromethorphan-bupropion) is a novel, oral, investigational N-methyl-D-aspartate (NMDA) receptor antagonist, sigma-1 agonist, and aminoketone CYP2D6 inhibitor under development for smoking cessation. AXS-05 is covered by a robust patent estate extending out to at least 2043. AXS-05 (AUVELITY®) is approved in the U.S. for the treatment of major depressive disorder in adults and agitation associated with dementia due to Alzheimer’s disease. AXS-05 is not approved by the FDA as a smoking cessation treatment.

About Axsome Therapeutics

Axsome Therapeutics is a biopharmaceutical company leading a new era in the treatment of central nervous system (CNS) conditions. We deliver scientific breakthroughs by identifying critical gaps in care and develop differentiated products with a focus on novel mechanisms of action that enable meaningful advancements in patient outcomes. Our industry-leading neuroscience portfolio includes FDA-approved treatments for major depressive disorder, agitation associated with dementia due to Alzheimer’s disease, excessive daytime sleepiness associated with narcolepsy and obstructive sleep apnea, and migraine, and multiple late-stage development programs addressing a broad range of serious neurological and psychiatric conditions that impact over 150 million people in the United States. Together, we are on a mission to solve some of the brain’s biggest problems so patients and their loved ones can flourish. For more information, please visit us at www.axsome.com and follow us on LinkedIn and X.

Forward Looking Statements

Certain matters discussed in this press release are “forward-looking statements”. The Company may, in some cases, use terms such as “predicts,” “believes,” “potential,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. In particular, the Company’s statements regarding trends and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the commercial success of the Company’s SUNOSI®, AUVELITY®, and SYMBRAVO® products and the success of the Company’s efforts to obtain any additional indication(s) with respect to solriamfetol and/or AXS-05; the Company’s ability to maintain and expand payer coverage; the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for the Company’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including the Company’s ability to fully fund the Company’s disclosed clinical trials, which assumes no material changes to the Company’s currently projected revenues or expenses), futility analyses and receipt of interim results, which are not necessarily indicative of the final results of the Company’s ongoing clinical trials, and/or data readouts, and the number or type of studies or nature of results necessary to support the filing of a new drug application (“NDA”) for any of the Company’s current product candidates; the Company’s ability to fund additional clinical trials to continue the advancement of the Company’s product candidates; the timing of and the Company’s ability to obtain and maintain U.S. Food and Drug Administration (“FDA”) or other regulatory authority approval of, or other action with respect to, the Company’s product candidates, including statements regarding the timing of any NDA submission; the Company’s ability to successfully defend its intellectual property or obtain the necessary licenses at a cost acceptable to the Company, if at all; the Company’s ability to successfully resolve any intellectual property litigation, and even if such disputes are settled, whether the applicable federal agencies will approve of such settlements; the successful implementation of the Company’s research and development programs and collaborations; the success of the Company’s license agreements; the acceptance by the market of the Company’s products and product candidates, if approved; the Company’s anticipated capital requirements, including the amount of capital required for the commercialization of SUNOSI, AUVELITY, and SYMBRAVO and for the Company’s commercial launch of its other product candidates, if approved, and the potential impact on the Company’s anticipated cash runway; the Company’s ability to convert sales to recognized revenue and maintain a favorable gross to net sales; unforeseen circumstances or other disruptions to normal business operations arising from or related to domestic political climate, geo-political conflicts or a global pandemic and other factors, including general economic conditions and regulatory developments, not within the Company’s control. The factors discussed herein could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Investors:
Ashley Dong
Senior Director, Investor Relations
(929) 687-1614
[email protected]

Media:
Darren Opland
Senior Director, Corporate Communications
(929) 837-1065
[email protected]

References:

U.S. Department of Health and Human Services. (2020). Smoking Cessation: A Report of the Surgeon General.U.S. Centers for Disease Control and Prevention. (2020). Tobacco-Related MortalityHughes, J.R. et al. Shape of the relapse curve and long-term abstinence among untreated smokers. Addiction. 2003. (99):29-38.

CrowdStrike Brings CLEAR's Verified Human Identity into the Falcon Platform PR Newswire

AUSTIN, Texas, NEW YORK and LAS VEGAS, August 31, 2026

Integration helps security teams distinguish trusted users from potential threats and act with greater confidence

, /PRNewswire/ -- CrowdStrike (NASDAQ: CRWD) and CLEAR (NYSE: YOU) today announced a strategic partnership that integrates CLEAR1, CLEAR's secure identity platform, with the CrowdStrike Falcon® platform. Together, CrowdStrike and CLEAR connect threat detection with high-assurance, person-based verification, designed to enable organizations to verify the human behind unusual activity and make more informed security decisions.

As attackers increasingly exploit legitimate credentials and trusted access pathways to blend into normal digital activity, establishing trust in the person behind a valid account or recognized device is more important than ever. By combining the Falcon platform with CLEAR1, companies can verify the device, the human, and stop identity-based attacks.

"Identity is at the center of how organizations operate and how adversaries attack. Bringing CrowdStrike and CLEAR together gives customers a new way to put high-assurance person-based verification to work as part of their security strategy," said Daniel Bernard, chief business officer at CrowdStrike. "This is what the Falcon platform is built for – bringing the best technology and intelligence together to help customers stop threats, reduce complexity, and move their businesses forward."

CLEAR1 uses a multi-layered approach to establish confidence in a person's identity, which includes capturing biometrics and government-issued identification and verifying it against authoritative sources. Through integrations with CrowdStrike capabilities, including Falcon® Next-Gen SIEM and Charlotte Agentic SOAR, organizations can incorporate person-based verification directly into existing security workflows without adding unnecessary friction.

In practice, the integration connects Falcon's risk detection with CLEAR1's person-based verification. When Falcon detects potential risk, it will trigger CLEAR1 to verify the human in real time and incorporate that result alongside other security signals to inform whether activity should be allowed, investigated or blocked. By correlating identity verification data with signals across the Falcon platform, security teams can uncover suspicious patterns that might otherwise appear legitimate when viewed in isolation.

"At CLEAR, we've spent more than 16 years building technology that helps establish confidence in a person—not just a credential, account or device," said Brett Romanoff, EVP of CLEAR1. "Together with CrowdStrike, that verification is now available when security decisions are being made. By verifying the person when risk emerges, organizations can make more informed decisions while keeping trusted users moving."

The integration is available for existing CrowdStrike and CLEAR1 customers to begin activating today.

About CrowdStrike
CrowdStrike (NASDAQ: CRWD), a global cybersecurity leader, has redefined modern security with the world's most advanced cloud-native platform for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data.

Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft, and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting, and prioritized observability of vulnerabilities.

Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity, and immediate time-to-value.

CrowdStrike: We stop breaches.

Learn more: https://www.crowdstrike.com/
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Start a free trial today: https://www.crowdstrike.com/trial

© 2026 CrowdStrike, Inc. All rights reserved. CrowdStrike and CrowdStrike Falcon are marks owned by CrowdStrike, Inc. and are registered in the United States and other countries. CrowdStrike owns other trademarks and service marks and may use the brands of third parties to identify their products and services.

About CLEAR
The mission of CLEAR, the secure identity company, is to strengthen security and create frictionless experiences. With over 43 million Members and a growing network of partners across the world, CLEAR's secure identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you—making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right. Members are always in control of their own information, and we do not sell biometric or sensitive personal data. For more information, visit clearme.com.

Forward-Looking Statements
This release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This includes, without limitation, statements regarding CLEAR's offerings, integration functionality and success, the anticipated benefits of integrating the CLEAR1 platform with the CrowdStrike Falcon platform, and the ability of the combined solution to verify identity, detect threats, and inform security decisions. Investors are cautioned that any and such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including those described in CLEAR's filings within the Securities and Exchange Commission, including the sections titled "Risk Factors" in our Annual Report on Form 10-K. CLEAR disclaims any obligation to update any forward-looking statements contained herein.

Media Contact:
CLEAR
[email protected]

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SOURCE CLEAR

WISE agents proactively help prevent payroll errors, enable more consultative service, and increase efficiency across the Paychex enterprise – enhancing customer experiencesResults from more than 50,000 early adopters reinforce the value of WISE across Paychex’s HCM platformsCompany continues to scale WISE based on early adopter success
ROCHESTER, N.Y., Aug. 31, 2026 (GLOBE NEWSWIRE) -- Paychex, Inc. (Nasdaq: PAYX), a leading provider of expert-enabled HR, payroll, and benefits, today shared early results from more than 50,000 businesses using WISE (Workforce Intelligence, Strengthened by Expertise). Early adopter data shows WISE is helping customers proactively prevent payroll errors, resolve service interactions faster, and improve efficiency across the Paychex enterprise — validating the company’s strategy to bring agentic AI into mission-critical workforce workflows.

Preventing Payroll Errors Before They Happen
Recurring payroll issues waste time, create risk, and can undermine employee trust. Companies average a 1.2% payroll error rate, and employees often begin looking for a new job after just two payroll mistakes. As business leaders are increasingly expected to do more with less, persistent demands and expanding priorities leave limited time for manual correction.

With WISE intelligence, Intelligent Pay Cycle continuously monitors the pay cycle for anomalies and proactively flags missing pay data, incomplete time records, and unresolved approvals before they become payroll problems, including:

Enabled proactive payroll management, with nearly 90% of identified time and pay rate errors corrected before payroll run day.Average time to review and resolve direct deposit changes fell from approximately three days to less than two days.

“WISE is not a set of AI features. It’s a shared intelligence engine embedded across our platforms to help customers complete work more efficiently and effectively,” said Ryan Bergstrom, Paychex Chief Product and Technology Officer. “From proactively identifying payroll issues to automating service interactions, WISE is already delivering measurable value at scale for customers and across our operations.”

Based on strong early adoption and validation, payroll intelligence and direct deposit approval capabilities reached general availability across Paychex Flex® users in late July, with missing punch and missing pay rate capabilities rolling out through September.

Driving Efficiency and Increasing Client Satisfaction
Delivered through both email and phone agents, WISE agentic intelligence runs through a customer lifecycle, from payroll pre-flight through post-cycle service. Thoughtfully developed to drive personalization and user confidence, WISE is delivering a faster, more positive client experience:

Across voice and email, WISE agents have handled more than 350,000 workforce conversations, with more than 20% resolved without human involvement.The WISE payroll voice agent operates at nearly 100% accuracy — with more than 40,000 users regularly choosing AI over a live representative.The WISE email agent has handled nearly 300,000 interactions with an average processing time of three minutes – more than 80% faster than human handling. “By automating routine interactions and surfacing issues earlier, WISE enables our service professionals to spend less time on repetitive tasks and more time helping clients solve broader workforce challenges,” Bergstrom added. “That shift from transaction handling to higher-value guidance is one of the most important benefits of our AI strategy.”

Unlocking Insights to Drive Organizational Effectiveness
Paychex continues to expand WISE across its operations to increase efficiency, accelerate service delivery, and enhance the customer experience. Over the past year, the company has equipped sales and service professionals with AI-powered tools that deliver real-time answers to customer questions and help teams respond more quickly and effectively. Paychex is also leveraging AI to modernize implementation workflows, helping new clients onboard faster and more efficiently.

To learn more about WISE and AI at Paychex, visit paychex.com/ai. 

About WISE
WISE (Workforce Intelligence Strengthened by Expertise) is the AI-powered intelligence engine transforming business operations with embedded context-aware intelligence, expert-enabled guidance, and autonomous execution. With Paychex’s five decades of trusted data and human expertise at its core, WISE transforms AI from a passive tool to expert-designed agentic workflows with the ability to complete tasks autonomously, making work faster, smarter, and more efficient.

About Paychex
Paychex, Inc. (Nasdaq: PAYX) provides a comprehensive suite of expert-enabled technology and advisory solutions that help businesses manage HR, payroll, and benefits. Serving approximately 840,000 customers and paying 1 in 11 U.S. private sector workers, Paychex combines scale, trusted expertise, and innovation to help businesses succeed. Built on more than 50 years of workforce experience and one of the industry’s largest proprietary HR datasets, Paychex’s WISE agentic AI engine embeds intelligence directly into workflows to improve productivity, enhance decision-making, and deliver better outcomes. Learn more at paychex.com.

Media Contact
Chelsea Wernick
Public Relations Program Manager
Paychex, Inc.
(585) 216-2974
[email protected]

MongoDB, Inc. (NASDAQ:MDB) will release its second earnings report after the closing bell on Tuesday, Sept. 1.

Analysts expect the New York-based company to report quarterly earnings of $1.61 per share, up from $1.00 per share in the year-ago period. The consensus estimate for MongoDB’s quarterly revenue is $734.4 million. It reported $591.4 million last year, according to Benzinga Pro.

On May 28, MongoDB reported better-than-expected first-quarter financial results and issued second-quarter guidance above estimates.

MongoDB shares gained 1.4% to close at $446.62 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

DA Davidson analyst Rudy Kessinger maintained a Buy rating and raised the price target from $375 to $465 on Aug. 26, 2026. This analyst has an accuracy rate of 75%. Barclays analyst Raimo Lenschow maintained an Overweight rating and boosted the price target from $387 to $460 on Aug. 26, 2026. This analyst has an accuracy rate of 71%. Wells Fargo analyst Ryan Macwilliams maintained an Overweight rating and raised the price target from $375 to $475 on Aug. 25, 2026. This analyst has an accuracy rate of 67%. Baird analyst William Power maintained a Neutral rating and boosted the price target from $335 to $400 on Aug. 25, 2026. This analyst has an accuracy rate of 84%. UBS analyst Karl Keirstead maintained a Neutral rating and increased the price target from $350 to $460 on Aug. 24, 2026. This analyst has an accuracy rate of 75%. Trending

Considering buying MDB stock? Here’s what analysts think:

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SAIC (SAIC - Free Report) came out with quarterly earnings of $3.01 per share, beating the Zacks Consensus Estimate of $2.25 per share. This compares to earnings of $3.63 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +33.78%. A quarter ago, it was expected that this information technology company would post earnings of $2.26 per share when it actually produced earnings of $3.23, delivering a surprise of +42.92%.

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

SAIC, which belongs to the Zacks Computers - IT Services industry, posted revenues of $1.88 billion for the quarter ended July 2026, surpassing the Zacks Consensus Estimate by 7.52%. This compares to year-ago revenues of $1.77 billion. The company has topped consensus revenue estimates four times over the last four quarters.

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

SAIC shares have added about 25.1% since the beginning of the year versus the S&P 500's gain of 12.7%.

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

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

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

Ahead of this earnings release, the estimate revisions trend for SAIC was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.41 on $1.81 billion in revenues for the coming quarter and $10.01 on $7.16 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computers - IT Services is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, C3.ai, Inc. (AI - Free Report) , has yet to report results for the quarter ended July 2026. The results are expected to be released on September 2.

This company is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of +29.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

C3.ai, Inc.'s revenues are expected to be $51.46 million, down 26.8% from the year-ago quarter.

, /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced the commencement of cash tender offers ("Tender Offers") to purchase up to an aggregate principal amount that will not result in an aggregate purchase price that exceeds $2 billion (subject to increase or decrease by ONEOK, the "Aggregate Maximum Tender Amount") of its outstanding debt securities of the 20 series listed in the table below (the "Notes" and, each series, a "series of Notes"), subject to the order of priority (the "Acceptance Priority Levels") as set forth in the table below under "Acceptance Priority Level." The Tender Offers form part of the previously-announced repayment plan to repurchase or repay $5 billion of ONEOK's senior debt.

The price offered in the Tender Offers and other information relating to the Tender Offers are set forth in the table below.

Acceptance
Priority
Level(1)

Title of
Notes

Issuer

Principal
Amount
Outstanding
(in millions)

CUSIP
Number

Par Call
Date(2)

Maturity Date

Reference
U.S.
Treasury
Security (3)

Bloomberg
Reference
Page(3)

Fixed
Spread
(Basis
Points)

Early
Tender
Premium(4)

1

3.950% Senior
Notes due 2050

ONEOK, Inc.

$797

682680CA9

September 1, 2049

March 1, 2050

5.000% UST due
May 15, 2056

FIT1

+ 100

$50

2

4.200% Senior
Notes due 2047

ONEOK, Inc.

$500

682680BY8

April 3, 2047

October 3, 2047

5.125% UST due
August 15, 2046

FIT1

+ 95

$50

3

4.500% Senior
Notes due 2050

ONEOK, Inc.

$271

682680BC6

September 15, 2049

March 15, 2050

5.000% UST due
May 15, 2056

FIT1

+ 105

$50

4

4.200% Senior
Notes due 2045

ONEOK, Inc.

$250

682680BW2

September 15, 2044

March 15, 2045

5.125% UST due
August 15, 2046

FIT1

+ 100

$50

5

4.250% Senior
Notes due 2046

ONEOK, Inc.

$500

682680BX0

March 15, 2046

September 15, 2046

5.125% UST due
August 15, 2046

FIT1

+ 95

$50

6

4.450% Senior
Notes due 2049

ONEOK, Inc.

$380

682680AZ6

March 1, 2049

September 1, 2049

5.125% UST due
August 15, 2046

FIT1

+ 100

$50

7

4.200% Senior
Notes due 2042

ONEOK, Inc.

$250

682680BU6

June 1, 2042

December 1, 2042

5.125% UST due
August 15, 2046

FIT1

+ 95

$50

8

4.850% Senior
Notes due 2049

ONEOK, Inc.

$500

682680BZ5

August 1, 2048

February 1, 2049

5.125% UST due
August 15, 2046

FIT1

+ 100

$50

9

4.950% Senior
Notes due 2047

ONEOK, Inc.

$407

682680AT0

January 13, 2047

July 13, 2047

5.125% UST due
August 15, 2046

FIT1

+ 100

$50

10

5.050% Senior
Notes due 2045

ONEOK, Inc.

$413

682680CY7

October 1, 2044

April 1, 2045

5.125% UST due
August 15, 2046

FIT1

+ 95

$50

11

5.200% Senior
Notes due 2048

ONEOK, Inc.

$753

682680AV5

January 15, 2048

July 15, 2048

5.125% UST due
August 15, 2046

FIT1

+ 95

$50

12

5.150% Senior
Notes due 2043

ONEOK, Inc.

$550

682680BV4

April 15, 2043

October 15, 2043

5.125% UST due
August 15, 2046

FIT1

+ 90

$50

13

5.450% Senior
Notes due 2047

ONEOK, Inc.

$448

682680DA8

December 1, 2046

June 1, 2047

5.125% UST due
August 15, 2046

FIT1

+ 100

$50

14

5.700% Senior
Notes due 2054

ONEOK, Inc.

$1,480

682680CF8

May 1, 2054

November 1, 2054

5.000% UST due
May 15, 2056

FIT1

+ 110

$50

15

5.850% Senior
Notes due 2064

ONEOK, Inc.

$722

682680CG6

May 1, 2064

November 1, 2064

5.000% UST due
May 15, 2056

FIT1

+ 120

$50

16

5.600% Senior
Notes due 2044

ONEOK, Inc.

$340

682680CW1

October 1, 2043

April 1, 2044

5.125% UST due
August 15, 2046

FIT1

+ 100

$50

17

3.100% Senior
Notes due 2030

ONEOK, Inc.

$780

682680BB8

December 15, 2029

March 15, 2030

4.375% UST due
August 31, 2031

FIT1

+ 35

$50

18

3.250% Senior
Notes due 2030

ONEOK, Inc.

$500

682680BS1

March 1, 2030

June 1, 2030

4.375% UST due
August 31, 2031

FIT1

+ 35

$50

19

3.400% Senior
Notes due 2029

ONEOK, Inc.

$714

682680AY9

June 1, 2029

September 1, 2029

4.250% UST due
August 15, 2029

FIT1

+ 30

$50

20

5.050% Senior
Notes due 2034

ONEOK, Inc.

$1,600

682680CE1

August 1, 2034

November 1, 2034

4.625% UST due
August 15, 2036

FIT1

+ 75

$50

(1)

Subject to the satisfaction or waiver of the conditions of the Tender Offers described in the Offer to Purchase, including the Aggregate Maximum Tender Amount and proration, the principal amount of each series of Notes accepted for purchase will be determined in accordance with the applicable Acceptance Priority Level specified in the table above (with 1 being the highest Acceptance Priority Level and 20 being the lowest Acceptance Priority Level). Notes tendered at or prior to the Early Tender Deadline will be accepted for purchase in priority to Notes tendered after the Early Tender Deadline, regardless of the Acceptance Priority Level of such later-tendered Notes, as described in the Offer to Purchase under "Description of the Offers—Aggregate Maximum Tender Amount; Acceptance Priority Levels; Proration."

(2)

For each series of Notes in respect of which a par call date is indicated, the calculation of the applicable Early Tender Consideration (as defined below) will be performed taking into account such par call date. See Annex A to the Offer to Purchase for an overview of the calculation of the Early Tender Consideration (including the par call detail) with respect to the Notes.

(3)

The Early Tender Consideration for each series of Notes payable per each $1,000 principal amount will be based on the fixed spread specified in the table above (the "Fixed Spread") for such series of Notes, plus the yield of the specified Reference Security for that series as quoted on the Bloomberg reference page specified in the table above as of 9:00 a.m., New York City time, on the business day following the Early Tender Deadline, unless extended (such date and time, as the same may be extended, the "Price Determination Date"). Notes validly tendered at or prior to the Early Tender Deadline (and not validly withdrawn) and accepted for purchase will receive the applicable Early Tender Consideration. Notes tendered after the Early Tender Deadline but at or prior to the Expiration Time and accepted for purchase will receive the applicable Early Tender Consideration minus the applicable Early Tender Premium. The applicable Accrued Coupon Payment will be payable in cash in addition to the applicable Early Tender Consideration or Tender Offer Consideration, as applicable.

(4)

Per $1,000 principal amount of Notes.

The Tender Offers are being made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated August 30, 2026 (as the same may be amended or supplemented from time to time, the "Offer to Purchase"). The Tender Offers are open to all holders (the "Holders") of the Notes. ONEOK reserves the right, but is under no obligation, to increase the Aggregate Maximum Tender Amount at any time, including on or after the Price Determination Date (as defined below), without extending withdrawal rights except as required by law. Notes of a series may be subject to proration (as described in the Offer to Purchase) if the aggregate principal amount of the Notes of such series validly tendered and not validly withdrawn would cause the Aggregate Maximum Tender Amount to be exceeded.

Subject to the terms and conditions of the Tender Offers, each Holder who validly tenders and does not subsequently validly withdraw its Notes at or prior to 5:00 p.m., New York City time, on September 14, 2026 (the "Early Tender Deadline") will be entitled to receive the applicable Early Tender Consideration (the "Early Tender Consideration") of the Notes accepted for purchase, plus accrued and unpaid interest up to, but not including, the Early Settlement Date (as defined below) if and when such Notes are accepted for payment. The Early Tender Consideration for each series of Notes validly tendered and accepted for purchase will be determined in the manner described in the Offer to Purchase by reference to the applicable fixed spread over the yield to maturity based on the bid side price of the applicable Reference U.S. Treasury Security specified in the table above and in the Offer to Purchase. In calculating the applicable Early Tender Consideration for a series of Notes, the application of the par call date will be in accordance with standard market practice. Holders who validly tender their Notes after the Early Tender Deadline but at or prior to 5:00 p.m., New York City time, on September 29, 2026, or such other date as ONEOK extends the Tender Offers (such date and time, as it may be extended, the "Expiration Time") will be entitled to receive only the applicable tender offer consideration (the "Tender Offer Consideration") equal to the applicable Early Tender Consideration less the applicable Early Tender Premium, plus accrued and unpaid interest up to, but not including, the applicable settlement date, if and when such Notes are accepted for payment. The Early Tender Consideration and Tender Offer Consideration will be determined at 9:00 a.m., New York City time, September 15, 2026, unless extended by ONEOK (the "Price Determination Date").

Payments for the Notes purchased will include accrued and unpaid interest from and including the last interest payment date applicable to the relevant series of Notes up to, but not including, the applicable settlement date for such Notes accepted for purchase. The settlement date for the Notes that are validly tendered at or prior to the Early Tender Deadline is expected to be September 17, 2026, three business days following the scheduled Early Tender Deadline (the "Early Settlement Date"). The settlement date for the Notes that are validly tendered following the Early Tender Deadline but at or prior to the Expiration Time is expected to be October 1, 2026, two business days following the scheduled Expiration Time (the "Final Settlement Date").

Subject to the Aggregate Maximum Tender Amount and proration, all Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline having a higher Acceptance Priority Level (with 1 being the highest) will be accepted before any validly tendered Notes having a lower Acceptance Priority Level (with 20 being the lowest), and all Notes validly tendered following the Early Tender Deadline having a higher Acceptance Priority Level will be accepted before any Notes validly tendered following the Early Tender Deadline having a lower Acceptance Priority Level. If the Tender Offers are not fully subscribed at the Early Tender Deadline, subject to the Aggregate Maximum Tender Amount and proration, Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline will be accepted for purchase in priority to Notes validly tendered following the Early Tender Deadline even if such Notes validly tendered following the Early Tender Deadline have a higher Acceptance Priority Level than Notes validly tendered at or prior to the Early Tender Deadline.

If the Tender Offers are fully subscribed at the Early Tender Deadline, Holders who validly tender Notes following the Early Tender Deadline but at or prior to the Expiration Time will not have any of their Notes accepted for purchase regardless of their Acceptance Priority Level.

ONEOK's obligation to accept for purchase, and to pay for, the Notes validly tendered pursuant to the Tender Offers is subject to, and conditioned upon, among other things, the consummation of the previously announced minority equity investment in ONEOK by Apollo Global Management, Inc. (the "Minority Equity Investment") and the related series of reorganization transactions described in the Offer to Purchase (the "Reorganization Transactions"), including the merger of ONEOK with and into a newly formed successor issuer, Falcon Merger Sub, L.L.C. ("Falcon Merger Sub"), a newly formed Oklahoma limited liability company and wholly owned subsidiary of Falcon TopCo, Inc. ("Falcon TopCo"), an Oklahoma corporation, with Falcon Merger Sub surviving the merger. Upon effectiveness of the Reorganization Transactions, Falcon Merger Sub will be renamed "ONEOK, L.L.C." and Falcon TopCo will be renamed "ONEOK, Inc." (the effective date of the Reorganization Transactions, the "Reorganization Date"). From and after the Reorganization Date, references herein to "ONEOK" shall be deemed to refer to ONEOK, L.L.C., and all notes previously issued by ONEOK or ONEOK Partners, L.P. will be assumed by ONEOK, L.L.C. and guaranteed by ONEOK, Inc. The Tender Offers are not contingent upon the tender of any minimum principal amount of the Notes.

Following the commencement of the Tender Offers, ONEOK intends, but is not obligated to, issue a notice of redemption for all of its 5.550% Senior Notes due 2026 and a portion of its 4.250% Senior Notes due 2027, up to an aggregate amount of approximately $250 million. Any such redemption would be made in accordance with the terms of the applicable indenture pursuant to which such Notes were issued, which provides for a make-whole redemption price as described therein. Neither this statement of intent nor similar statements of such intent included elsewhere in this press release shall constitute a notice of redemption under any indenture. Any such notice, if made, will only be made in accordance with the provisions of the applicable indenture.

ONEOK or its affiliates may from time to time purchase additional Notes in the open market, in privately negotiated transactions, through tender offers, exchange offers or otherwise, or ONEOK may redeem Notes pursuant to the terms of the applicable indenture governing each series of Notes. Any future purchases may be on the same terms or on terms that are more or less favorable to Holders of Notes than the terms of the Tender Offers and, in either case, could be for cash or other consideration. Any future purchases will depend on various factors existing at that time. There can be no assurance as to which, if any, of these alternatives (or combinations thereof) ONEOK will choose to pursue in the future. The effect of any of these actions may directly or indirectly affect the price of any Notes that remain outstanding after the consummation or termination of the Tender Offers.

ONEOK has retained Barclays Capital Inc. to serve as Dealer Manager for the Tender Offers. D.F. King & Co., Inc. has been retained to serve as the Information and Tender Agent for the Tender Offers. Questions regarding the Tender Offers may be directed to Barclays Capital Inc. at 745 Seventh Avenue, 5th Floor, New York, New York 10019, (800) 438-3242. Requests for the Offer to Purchase may be directed to D.F. King & Co., Inc. at 28 Liberty Street, 53rd Floor, New York, New York 10005, (646) 690-9645 (for banks and brokers) or (800) 967-7510 (for all others), or by email ([email protected]). ONEOK is making the Tender Offers only by, and pursuant to, the terms of the Offer to Purchase. None of ONEOK, the Dealer Manager, or the Information and Tender Agent make any recommendation as to whether Holders should tender or refrain from tendering their Notes. Holders must consult their own investment and tax advisors and make their own decisions as to whether to tender their Notes and, if so, the principal amount of the Notes to tender. The Tender Offers are not being made to holders of the Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offers to be made by a licensed broker or dealer, the Tender Offers will be deemed to be made on behalf of ONEOK by the Dealer Manager, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.        

At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world.

ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma.

For information about ONEOK, visit www.oneok.com. For the latest news, visit the ONEOK newsroom or find us on LinkedIn, Facebook, X and Instagram.

This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this communication that address activities, events or developments that ONEOK expects, believes or anticipates will or may occur in the future are forward-looking statements.

Words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "potential," "opportunity," "create," "intend," "could," "would," "may," "plan," "will," "guidance," "look," "goal," "target," "future," "build," "focus," "continue," "strive," "allow" or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking.

These forward-looking statements include, but are not limited to, statements regarding timing and consummation of the purchase of the Notes, risks and uncertainties related to the satisfaction of the conditions to the consummation of the Minority Equity Investment and the Reorganization Transactions and other conditions related to the purchase of the Notes. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. These include the risk that changes in ONEOK's capital structure could have adverse effects on the market value of its securities; the risk that ONEOK may be unable to reduce expenses or access financing or liquidity; risks related to the impact of any economic downturn and any substantial decline in commodity prices; risks related to ONEOK's ability to effectively manage our expanded operations following closing of recent acquisitions and other important factors that could cause actual results to differ materially from those projected.

All such factors are difficult to predict and are beyond ONEOK's control, including those detailed in ONEOK's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that are available on ONEOK's website at www.oneok.com and on the website of the SEC at www.sec.gov. All forward-looking statements are based on assumptions that ONEOK believes to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made, and ONEOK does not undertake any obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

Contacts:

Investor Relations:
Megan Patterson
918-561-5325
[email protected] 

Media Relations: 
Alicia Keenom
918-861-3749
[email protected] 

SOURCE Oneok, Inc.

Ethereum’s next big upgrade is Glamsterdam, currently planned for Q4 2026. It includes protocol changes designed to make larger blocks easier to process and prepare Ethereum for substantially higher L1 throughput. Ethereum developers have identified a post-upgrade gas limit around 200 million as a target, compared with 60 million today.

What makes this upgrade so important? Ethereum by far has the largest developer base in the blockchain space, but its speed and cost still lag.

With on-chain activities exploding across every vertical, high-performance chains have become serious destinations for trading, payments and consumer applications.

Heads-up for anyone maintaining L1 contracts:
→ The Glamsterdam upgrade will include gas repricings (EIP-8037, EIP-8038) that shift state creation and access costs.
→ Most contracts are unaffected, but a small set may break or degrade without updates. Affected contracts rely on…

— Ethereum Foundation (@ethereumfndn) August 25, 2026 More Usable L1 Capacity Federico Variola, CEO of Phemex, sees decentralized trading as one of the areas where Ethereum’s next steps could prove particularly important.

“As regulators are increasingly forced to engage with decentralized exchanges such as Hyperliquid, it will be very important for Ethereum to remain decentralized while also offering a reasonable level of speed and avoiding high costs.”

Applications such as decentralized exchanges place unusually heavy demands on blockchains because users expect fast execution, deep liquidity and costs low enough to support frequent transactions.

Ethereum has addressed much of this demand through Layer 2 networks. Variola describes the results as mixed.

“There has been meaningful progress, but there have also been many failures over the past few years, and these have drained a significant amount of capital and activity from the Ethereum ecosystem.”

Ethereum already doubled its gas limit from roughly 30 million in early 2025 to 60 million following successive protocol improvements. Developers are now preparing the network for another much larger increase.

Variola believes decentralized exchanges could become an important measure of whether this effort succeeds.

“For ETH, I think the next major battle will be creating the conditions for decentralized exchanges to flourish, especially as regulators begin engaging more seriously with these instruments.”

The challenge is therefore to turn higher capacity into consistently faster and cheaper execution while keeping validator requirements accessible. 

The Hardware Problem of Higher Throughput Increasing Ethereum’s gas limit creates an obvious engineering hurdle. Bigger blocks give applications more execution capacity, while validators need enough computing power to process those blocks within Ethereum’s fixed slot times.

Ethereum itself identifies validator hardware as one of the constraints on L1 throughput. Increasing the amount of work contained in each block can eventually price smaller operators out of running nodes, concentrating validation among professional operators with more powerful machines.

Glamsterdam attacks the problem from several directions: 

Block-Level Access Lists (EIP-7928) give clients advance information about which accounts and storage locations a block will touch, allowing more disk reads, transaction processing and state calculations to happen in parallel; Enshrined proposer-builder separation (ePBS) reorganizes how blocks are constructed and validated. Combined with Block-Level Access Lists, it is intended to help Ethereum process more data on L1 without increasing validator workloads as sharply; State-growth controls (EIP-8037) change the economics of creating a permanent state. Developers are targeting roughly 120 GiB of annual state growth even if the gas limit rises toward 200 million, helping keep node operation within reach of ordinary hardware; Longer-term zkEVM verification could allow validators to verify cryptographic proofs instead of re-executing every transaction, reducing the computational burden of higher throughput. In short, Ethereum’s L1 scaling effort depends on making execution more efficient. 

🔥 Ethereum’s next upgrade could be much bigger than most people realize.

The upgrade is called Glamsterdam, and after a week-long core developer workshop in Svalbard, Ethereum contributors aligned on a bold target:

A 200M gas limit floor after Glamsterdam.

That number… pic.twitter.com/ojnbNITqjY

— Ethereum Daily (@ETH_Daily) May 5, 2026 The Role of Rollups on a Faster Ethereum A stronger base chain also changes the calculation facing applications that currently launch on rollups or their own chains.

Fernando Lillo Aranda, CMO at Zoomex, expects some applications to reconsider where they deploy as L1 economics improve.

“Stronger Layer 1 performance would certainly reduce some of the pressure that originally drove the adoption of rollups and app-specific chains. If the base layer becomes faster, cheaper, and more scalable, some applications may decide that deploying directly on the L1 offers a simpler and more efficient user experience.”

Direct L1 deployment removes several complications associated with operating across separate execution environments. Applications can access Ethereum liquidity and composability without asking users to move assets between networks or manage different chains.

Yet rollups provide capabilities that raw throughput alone cannot replace.

“Rollups and app-specific chains were not built solely to solve scalability – they also provide customization, dedicated execution environments, lower latency, and greater control over fees, governance, and application design,” Aranda said.

Ethereum’s roadmap still invests heavily in rollup capacity. PeerDAS and continued blob expansion increase the amount of data Ethereum can make available to L2 networks, allowing the base chain and rollups to expand together.

The likely result is a wider choice of deployment models. Applications that value maximum Ethereum composability may find L1 increasingly attractive, while high-frequency products and applications requiring custom execution can continue using rollups or dedicated chains.

Aranda sees those systems as complementary.

“A faster and more efficient base layer strengthens the entire ecosystem, while rollups and app-specific chains continue to deliver the flexibility and specialization that many applications and users require.”

Competition Has Grown Ethereum’s competition for developer attention is sometimes described more dramatically than the data supports.

Electric Capital’s live developer tracker currently records roughly 7,600 monthly active developers in the Ethereum ecosystem, compared with around 2,300 on Solana. Across the wider EVM ecosystem, the figure reaches approximately 10,000.

Ethereum therefore retains a substantial lead.

The competitive environment around those developers has changed considerably. Builders now have several established destinations offering inexpensive execution, high throughput and sizable user bases. Choosing Ethereum increasingly involves weighing its liquidity, security and developer ecosystem against execution characteristics available elsewhere.

Glamsterdam addresses this competition. Ethereum already has capital, applications, tooling and one of crypto’s deepest developer communities. Increasing L1 capacity gives those advantages a faster execution environment underneath them.

XRP whales made an unusually large move off Binance as accumulation accelerated alongside the token's powerful weekly rally above 40%.

XRP briefly surged past $1.7 before stabilizing near $1.4. While the token appears to have hit a wall after a massive rally, whale withdrawals from Binance have surged to their highest level in six months.

According to the latest findings by CryptoQuant analyst Darkfost, more than 231 million XRP have moved off the exchange by large holders.

Whale Accumulation The withdrawals totaled more than $335 million in a single day, far above the 90-day average of roughly $40 million. Darkfost described the move as both sudden and powerful compared with the recent trend, while pointing to a significant change in behavior among large XRP holders.

The surge in whale outflows comes as the crypto asset’s market capitalization increased by $25 billion over the past week, during which the token gained more than 40%.

According to the analyst, this trend has potentially helped fuel XRP’s strong market performance and renewed attention. If this accumulation trend continues, Darkfost said the asset could potentially test the $2 level within a relatively short period.

This week, Ali Martinez flagged a major jump in XRP network activity, after active addresses rose to 356,070 from 47,180. That represents a surge of well over 654%, a level of activity that typically suggests increased participation and can coincide with sharper price swings.

Trouble Ahead? But the derivatives market showed short-term pressure for XRP after the token cleared liquidity around resistance and moved back toward a major support zone. Long liquidations were recorded at approximately $4.66 million, a 31.82% daily increase, while short liquidations stood near $1.13 million after rising 61.61%.

You may also like: Ripple’s (XRP) Sharpe Ratio Just Did Something It Hasn’t Done In a Year Ripple (XRP) ETFs Smash 2026 Inflow Record as Total Flows Hit New ATH XRP’s Crazy August Is Almost Over – September Could Be Even Bigger Despite the stronger percentage increase in short liquidations, the total volume of long liquidations is nearly four times larger. This indicates that the pullback following the recent rally forced a significant number of leveraged long positions out of the market, meaning that the sell-off was driven by both spot selling and the liquidation of leveraged positions.

While this confirms the current bearish pressure, the clearing of leveraged positions could eventually provide room for a healthier rebound, CryptoQuant explained.

Meanwhile, XRP’s Money Flow Index (MFI) has fallen to 35.89 from around 60, which points to a significant weakening in the buying pressure that supported the earlier price move. However, the MFI remains above 20, which means that the crypto asset has not yet entered technically oversold territory and could still face further downside.

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Former Visa executive Kathleen Pierce-Gilmore is three months into her new role as president of SoFi Technology Solutions. The premise guiding her strategy is that banks, credit unions and software platforms each know their customers in different ways, and SoFi can provide the financial technology to help them act on that knowledge.

For example, a community bank, credit union or software platform may have customer knowledge SoFi doesn’t. And SoFi Technology Solutions can provide the accounts, payments, lending and money-movement infrastructure behind the financial products they offer.

In short: apply a range of technology to different customer needs. Pierce-Gilmore discussed that approach in her first official interview in her new role, joining PYMNTS CEO Karen Webster for a Monday Conversation. Her shorthand for the model is to serve as she put it, as the “AWS of financial solutions.”

The analogy reflects that range SoFi has assembled. The company spans account and ledger capabilities, debit, credit and prepaid processing, lending through Peach, money movement including ACH, FedNow and wires, and functions such as fraud and disputes. Pierce-Gilmore’s objective is to make those capabilities usable in different combinations depending on what a client is trying to provide.

“Anytime someone is creating a financial solution, it is just a matter of putting certain ingredients together,” Pierce-Gilmore told Webster. The strategy depends in part on which customers need those ingredients and what they’re trying to build.

Pierce-Gilmore divides prospective customers into two broad groups. Community banks, credit unions and other financial institutions have financial services at the center of the customer relationship. A second group includes companies whose primary business is something else but whose relationship with customers can create a useful context for providing financial services.

A vertical software provider illustrates the difference. Pierce-Gilmore cited software used by her hairdresser that can see appointments, prices, repeat customers, employees and capacity. Those operating data can inform more than the initial decision to extend working capital. Pierce-Gilmore said the same context can inform repayment and forecasting, allowing the provider to serve the business with information a conventional financial provider may not have.

Banks and credit unions bring different advantages. A community bank may understand a particular geography and its businesses. A credit union may know members through an employer, profession or affinity. Pierce-Gilmore’s distinction isn’t about which model has better information. It is about recognizing that different customer relationships produce different information and therefore different requirements from the technology underneath the financial product.

That thinking is also informed by a recent setback.

SoFi’s Technology Platform business declined 23% year over year in the second quarter after losing a large client. Pierce-Gilmore said the client had made financial services central to its own business and eventually decided to build internally much of the technology it had previously obtained from SoFi.

“It did leave a hole,” she said.

Pierce-Gilmore said the experience has influenced how she thinks about customer segments. She wants clients whose need for outside technology can endure as they become larger and more sophisticated.

“We want to work with clients where it’s a very long-term partnership, where we can continue to support them as they grow and evolve,” she said.

Seeing the Technology From the Client Side Pierce-Gilmore’s new role has also changed her vantage point on a problem she encountered throughout her career: financial institutions can decide to modernize and still struggle with the execution.

SoFi is going through its own core conversion. Pierce-Gilmore now sits in internal meetings where product, technology and management teams are dealing with migration and regulatory requirements rather than seeing those issues only from the provider side.

“I get to be in the room when the client is going through this experience,” she told Webster. Pierce-Gilmore said SoFi Technology Solutions can incorporate what it learns into its own migration and compliance capabilities.

“Even when you have the courage and you are taking brave steps forward and you’re taking those risks, it’s really freaking hard,” Pierce-Gilmore said. “It’s complex. There’s a lot of pressures.”

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Webster asked how that experience changes Pierce-Gilmore’s responsibility for enabling not only SoFi but partners that want to provide financial capabilities within their own ecosystems.

The answer is showing up in practical requirements around migration, compliance and implementation.

Consumer behavior is changing the requirements as well.

SoFi Technology Solutions’ Q2 debit data point to consumers using debit across a wider range of purchases rather than separating debit and credit by category. Card-on-file represents 25% of transactions and more than 30% of debit dollars on the platform. The numbers point to another change in debit: more spending can originate from the account without the consumer making a fresh decision to present the card for every purchase.

Webster noted that debit itself now includes features that can alter how consumers use it, including rewards and the ability to pay over time.

Pierce-Gilmore puts those developments within a broader financial-health framework of “spending less than you make and investing the rest.” For providers, however, the immediate challenge is supporting more ways for consumers to use the same underlying account.

Artificial intelligence agents could add another variation.

Pierce-Gilmore doesn’t expect agentic commerce to require a separate payments architecture. She does expect existing systems to distinguish between transactions initiated by people and those initiated on their behalf by agents. Credentials, fraud controls and disputes are among the areas that could be affected.

Disputes provide a concrete example. Evidence used to resolve a claim today can include what a consumer ordered, what a merchant delivered and records surrounding the transaction. Delegating the purchase to an AI agent changes the record of who made which decision.

“When it’s an agent, it’s a different kind of evidence,” Pierce-Gilmore said.

Pierce-Gilmore expects the next six to 12 months to begin showing whether the pieces she calls financial “ingredients” can work as the broader platform she envisions. She wants live examples of clients using combinations of SoFi Technology Solutions’ capabilities to serve customers they already know.

Watch the full interview with Kathleen Pierce-Gilmore to learn more about:

How customer data held by software platforms can inform financial products for small businesses. What SoFi’s own core conversion is teaching its technology business about migration and compliance. Why AI agents could require changes to credentials, fraud controls and dispute evidence.

Acquisition Increases Momentum Toward the High End of ONEOK's Mid- to High-
Single-Digit Adjusted EBITDA Growth Target Over the Next Five to Seven Years

Expected to Be Immediately Accretive to Earnings and Free Cash Flow Per Share

$9 Billion Minority Equity Investment from Apollo
Funds Acquisition and $5 Billion Debt Extinguishment

Accelerates Deleveraging to 3.25x Debt-to-EBITDA with 
No Issuance of Common Equity

Accelerates ONEOK's Flexibility for Capital Allocation Including Organic Growth,
Potential Dividend Increases and Share Buybacks

, /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced that it has executed a definitive agreement to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for total cash consideration of $4.425 billion. The acquisition will be funded through a $9 billion nonvoting minority equity investment from funds and affiliates managed by Apollo (NYSE: APO) (Apollo). ONEOK intends to use $5 billion of proceeds from the equity investment to reduce ONEOK's existing indebtedness.

"This transaction demonstrates ONEOK's strategy of intentionally expanding and extending our integrated energy infrastructure," said Pierce H. Norton II, ONEOK president and CEO. "These assets add a premier Permian Midland Basin platform supported by long-term contracts and attractive growth opportunities.

"The acquisition expands our scale in the Permian Midland Basin, advances our integrated wellhead-to-water strategy and strengthens connectivity across our natural gas and NGL value chain, positioning ONEOK to capture significant volume growth in one of the most economic and rapidly growing resource plays," added Norton. "The combination of this acquisition with the minority equity investment demonstrates our commitment to creating shareholder value while accelerating our deleveraging to 3.25 times debt-to-EBITDA, further enhancing our balance sheet."

"ONEOK has built one of the largest and most diversified midstream platforms in the country, providing essential services and infrastructure to help meet rapidly expanding domestic and international energy demand," said Apollo Partner Jamshid Ehsani. "This transaction reflects Apollo's ability to deliver flexible, high-grade capital solutions at scale, structured around ONEOK's long-term strategic objectives."

STRATEGIC OVERVIEW

The acquisition will be funded through a $9 billion nonvoting minority equity investment in ONEOK's existing business. The investment carries an internal rate of return (IRR) that is capped at 7.0% for the first nine years of the investment, which is lower than ONEOK's cost of publicly traded equity. Distributions in excess of the capped IRR will reduce the minority equity capital balance over time, which increases the economic value attributable to ONEOK common shareholders.

In addition to funding the acquisition, ONEOK intends to extinguish approximately $5 billion of existing indebtedness, immediately reducing expected pro forma 2027 leverage to approximately 3.25 times debt-to-EBITDA. The debt extinguishment plan will include repayments, make-whole calls and a tender offer for senior notes (most of the targeted senior notes are currently trading below par). 

These steps will accelerate ONEOK's deleveraging timeline and will more than achieve the company's previous target leverage without issuing common equity while supporting a growing backlog of organic growth opportunities, particularly in the Permian Basin, as well as other business segments.

The acquisition increases momentum toward the high end of ONEOK's mid- to high-single-digit adjusted EBITDA growth target over the next five to seven years and accelerates ONEOK's flexibility to increase capital returns to shareholders, including through potential dividend increases and share buybacks.

PREMIER PERMIAN MIDLAND BASIN PLATFORM

The transaction implies a multiple of approximately 7.5 times estimated 2027 EBITDA, inclusive of approximately $80 million of full-year synergies, and approximately 6.0 times estimated 2028 EBITDA, reflecting the expected significant growth of the Brazos platform, as well as additional commercial and operational synergies expected to be realized through further integration with ONEOK's existing Permian Basin assets. The combined ONEOK and Brazos systems are also expected to generate additional capital efficiencies as capacity is optimized across the platform. The acquisition is expected to be immediately accretive to earnings and free cash flow per share, supported by substantial contracted growth across Brazos' dedicated acreage.

The acquisition strengthens ONEOK's integrated Permian-to-Gulf Coast strategy by:

Expanding scale in the rapidly growing Permian Midland Basin. Adding long-term, fee-based contracted growth with leading Permian producers. Enhancing connectivity across the natural gas and NGL value chain. Optimizing commercial and capital savings opportunities. Delivering immediate accretion to earnings and free cash flow per share. The acquired Brazos Midland assets create a scaled, integrated Permian Midland Basin platform that strengthens ONEOK's position in one of the most active and economic producing regions in North America. Supported by approximately 600,000 dedicated acres under long-term fixed-fee contracts with a weighted average remaining term of more than 12 years, the system provides substantial visibility to future volume growth and is currently supported by 14 active drilling rigs from leading Permian producers including ExxonMobil, Diamondback Energy and Double Eagle.

Following completion of the Cassidy II processing plant expected in the third quarter of 2027, the Brazos Midland system will include approximately 700 miles of gathering infrastructure and 1.2 billion cubic feet per day (Bcf/d) of processing capacity across seven core Permian Midland Basin counties. Through the acquisition, ONEOK also obtains a Permian Midland Basin-wide area of mutual interest (AMI) with a key private producer, creating additional opportunities to capture future growth.

The Brazos Midland assets are highly complementary to ONEOK's existing Permian Midland Basin natural gas gathering and processing, NGL transportation and crude oil infrastructure. The acquisition more than doubles ONEOK's Midland Basin processing capacity to approximately 2.3 Bcf/d, including plants currently under construction, and establishes one of the Permian Midland Basin's largest integrated natural gas gathering and processing platforms.

The combination expands ONEOK's ability to capture volume growth across the value chain while optimizing capital deployment and utilizing existing downstream infrastructure, including the company's West Texas NGL Pipeline and soon-to-be-completed Medford NGL fractionation facility. By integrating commercial, operational and capital activities across the combined footprint, ONEOK expects to achieve significant recurring synergies over the long term, further reducing the effective acquisition multiple over time to be in line with ONEOK's historical organic build multiples. 

MINORITY EQUITY INVESTMENT

Further strengthening its financial position, ONEOK has entered into an agreement with Apollo and affiliates for a $9 billion minority equity investment.

Minority equity investment highlights:

Return capped at a 7.0% IRR for the first nine years of the investment with value creation above the capped return rate accruing to ONEOK common shareholders. Investor's capital account balance is expected to substantially decline over time through cash distributions that vary with cash flow from operations. Income attributable to the noncontrolling interest (NCI) is expected to tie closely to the 7.0% capped IRR multiplied by the investor's then outstanding capital account balance. No liquidation preference and is structurally subordinate to all existing ONEOK senior debt. Provides ONEOK the option to acquire any remaining minority interest beginning eight years after closing or earlier if investor capital account balance declines to $200 million prior to that date. No Hypothetical Liquidation at Book Value (HLBV) accounting treatment necessary for this structure. Under the terms of the agreement, Apollo will invest $9 billion in exchange for a Class B interest in a newly formed holding company, ONEOK Holdings, L.L.C. (HoldCo), which is structurally subordinate to the company's debt. The Class B interest is expected to receive 15% of quarterly cash flow from ONEOK, L.L.C. (OpCo) operations. Because those distributions are expected to exceed the Class B capped return of 7.0% IRR, the Class B capital account balance is expected to substantially decline over time. There are no penalties if the quarterly distribution is below the capped return. ONEOK has the option each quarter to accelerate the Class B investor capital paydown by electing to distribute up to 20% of quarterly cash flow from OpCo's operations to the Class B interest, subject to certain conditions. The Class B interest carries limited consent rights related to HoldCo, has no board representation or liquidation preference, and is subordinate to all ONEOK senior debt. All distributions paid to HoldCo are at the discretion of the OpCo board.  

The total minority equity investor return is capped at a 7.0% IRR for the first nine years of the investment. The target IRR on the then-current capital account balance steps to 7.35% in year 10 and increases to a final cap of 7.85% in year 15. All value creation above the capped IRR, including growth from the Brazos Midland acquisition, ONEOK's existing portfolio and future initiatives, accrues to ONEOK common shareholders.

Beginning on the eighth anniversary of closing, or earlier if the Class B capital account balance reaches $200 million prior to that date, ONEOK may acquire the remaining Class B interest at a price reflecting the same 7.0% IRR, which is fixed until the ninth anniversary of closing. By that time, the remaining balance is expected to be substantially below the initial investment. In years 10 through 15, the Class B interest may be acquired at a value to achieve the then current target IRR applied to the remaining Class B capital account balance at that time.

The investment has been reviewed with ONEOK's credit rating agencies, all of which consider the transaction as credit-enhancing, and ONEOK expects to receive full equity credit. Under Generally Accepted Accounting Principles (GAAP), the investment will be reported on the balance sheet as a noncontrolling interest (NCI) within permanent equity. On the income statement, approximately 7.0% (1.75% on a quarterly basis) of the investment's remaining capital balance will be subtracted from net income to arrive at net income attributed to ONEOK. The remainder of the Class B payment above NCI will reduce capital balance quarterly and the next quarter's income available for common shareholders will increase in an amount approximately equal to the previous quarter's reduction in capital account multiplied by the capped return divided by four and adjusted for the effective tax rate.

TRANSACTION TIMING 

The Brazos Midland acquisition is expected to close in the fourth quarter of 2026 and has been unanimously approved by ONEOK's Board of Directors. The closing of the transaction is subject to customary closing conditions, including Hart-Scott-Rodino Act clearance.

The minority equity investment has been unanimously approved by ONEOK's Board of Directors and is expected to close in the first half of September, subject to customary closing conditions.

As part of these strategic transactions, ONEOK intends to extinguish $5 billion of outstanding debt, including commencing a cash tender offer for certain of its outstanding debt securities. In addition, ONEOK will repay, at or shortly following closing of the minority equity investment, its $1.2 billion term loan and will exercise make-whole calls on certain series of senior notes.  

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

CONFERENCE CALL INFORMATION

Members of ONEOK's management team will participate in a conference call at 9 a.m. Eastern (8 a.m. Central) on Aug. 31, 2026. The call will also be webcast.

To participate in the conference call, dial 800-330-6710, confirmation code: 8307680, or log on to the webcast at www.oneok.com.

If you are unable to participate in the conference call or webcast, a recording will be available at www.oneok.com for one year.

TRANSACTION PRESENTATION

https://ir.oneok.com/news-and-events/events-and-presentations

ADVISORS

Barclays served as sole financial advisor to ONEOK on the Brazos Midland acquisition and lead financial advisor to ONEOK on the minority equity investment. Lazard also served as financial advisor to ONEOK on the minority equity investment.

Latham & Watkins LLP served as legal advisor to ONEOK on the acquisition and minority equity investment. 

RBC Capital Markets served as sole financial advisor and Milbank LLP served as legal counsel to Apollo.

Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Brazos Midstream.

NON-GAAP (GENERALLY ACCEPTED ACCOUNTING PRINCIPLES) FINANCIAL MEASURES:

This news release references certain non-GAAP financial measures, including forward-looking transaction-related adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) multiples and targets, and free cash flow. These measures may not be comparable to similarly titled measures of other companies, are not measurements of financial performance under GAAP, and should not be considered alternatives to amounts presented in accordance with GAAP. Because these measures are provided on a forward-looking basis, ONEOK is unable to present a quantitative reconciliation to the most directly comparable forward-looking GAAP measures without unreasonable effort.

ABOUT ONEOK:

At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world.

ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma.

For information about ONEOK, visit www.oneok.com. For the latest news, visit the ONEOK newsroom or find us on LinkedIn, Facebook, X and Instagram.

ABOUT APOLLO:

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2026, Apollo had approximately $1.05 trillion of assets under management. To learn more, please visit www.apollo.com.

ABOUT BRAZOS MIDSTREAM:

Headquartered in Fort Worth, Texas, Brazos Midstream represents the largest privately held midstream platform in the Midland Basin. Brazos Midstream's critical hydrocarbon infrastructure of natural-gas gathering pipelines spans the most prolific producing counties in the Midland Basin. Brazos has expansion projects underway to expand its current processing capacity to approximately 1.2 billion cubic feet per day (Bcf/d) in 2027. Brazos Midstream's Midland platform is backed by Old Ironsides Energy, LLC and EnCap Flatrock Midstream, L.P.

FORWARD-LOOKING STATEMENTS:

Some of the statements contained and incorporated in this news release are forward-looking statements as defined under federal securities laws. The forward-looking statements relate to our anticipated financial performance (including projected levels of quarterly and annual dividends and adjusted EBITDA), growth, leverage, synergies, liquidity, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under federal securities laws and other applicable laws.

Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "guidance," "intend," "may," "might," "outlook," "plan," "potential," "project," "scheduled," "should," "will," "would" and other words and terms of similar meaning.

One should not place undue reliance on forward-looking statements. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements, including, without limitation, conditions to the completion of the acquisition, such as required regulatory clearance, not being satisfied; closing of the acquisition or minority equity investment being delayed or not occurring at all; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the acquisition agreement; and ONEOK being unable to achieve the anticipated benefits of the acquisition or minority equity investment, including failure to achieve anticipated growth levels or operational synergies. Those factors may affect our operations, markets, products, services and prices. These and other risks are described in greater detail in Item 1A, Risk Factors, in our most recent Annual Report on Form 10-K and in the other filings that we make with the Securities and Exchange Commission (SEC), which are available on the SEC's website at www.sec.gov. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Any such forward-looking statement speaks only as of the date on which such statement is made, and, other than as required under securities laws, we undertake no obligation to update publicly any forward-looking statement whether as a result of new information, subsequent events or change in circumstances, expectations or otherwise.

Contacts:

Investor Relations: 
Megan Patterson
918-561-5325
[email protected] 

Media Relations: 
Alicia Keenom
918-861-3749
[email protected] 

SOURCE Oneok, Inc.

Viking Therapeutics (VKTX -5.02%) stock is down almost 66% from its early 2024 peak and down about 8.4% so far in 2026. While there's little the company can do regarding the drug development programs of larger peers like Eli Lilly and Novo Nordisk, Viking has a mix of near- and long-term catalysts in its pipeline that could meaningfully rerate the stock.

Viking Therapeutics and VK2735 The company's lead drug candidate is VK2735, a dual GLP-1 and GIP agonist in development in subcutaneous and oral forms to treat obesity and type 2 diabetes. VK2735 has two potential advantages over rival drugs, including Eli Lilly's Zepbound/Mounjaro (tirzepatide), Foundayo (orforglipron), and Novo Nordisk's Ozempic/Wegovy (semaglutide).

Image source: Getty Images.

The first is that VK2735 is being developed as a dual-formulation therapy, allowing patients to take it as a subcutaneous (injectable) formulation, followed by a more convenient oral maintenance dose. The second is that clinical trial evidence suggests it can achieve a steeper rate of weight loss than tirzepatide or semaglutide. As such, it offers the prospect of swifter weight loss and the convenience of a rapid shift to an oral dose.

However, as ever with clinical trial data, it needs to be qualified and put into context. If you've read the linked article, you'll note that I'm comparing phase 2 data for VK2735 with phase 3 data from Eli Lilly and Novo Nordisk offerings. These are not head-to-head trials, and it's the phase 3 data from the VK2735 trials that really matter. Still, the data is impressive and part of what investors are basing their hopes on.

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Viking Therapeutics' pipeline All of which leads me to the key catalysts for the stock, starting with the long-term catalysts:

The 78-week phase 3 trials of VK2735 (subcutaneous) are ongoing, with results unlikely until the third quarter of 2027. The phase 3 trials of VK2735 (oral), which are set to commence in the fourth quarter of 2026, aren't likely to yield results until 2028 or even 2029. Clearly, the key results from these trials are still some time away, and the stock is likely to remain volatile until they are released. Still, there are some near-term catalysts for the stock that investors need to be aware of.

Management needs to announce the initiation of the oral phase 3 program in the fourth quarter. Viking has a 180-subject phase 1 maintenance dosing trial that is due to report results imminently.

Image source: Getty Images.

The maintenance trial (a 19-week subcutaneous dose or placebo, followed by 12 weeks across a range of doses, including oral dosing) will provide data that could help support a dual-formulation strategy. For example, the phase 2 trial results for VK2735 (oral) included some disappointing safety and tolerability data, which caused the stock to crash in the summer of 2025. Some positive news on tolerability in the transition from subcutaneous to oral applications would improve sentiment toward the stock and VK2735.

What really matters is the phase 3 trial results relative to rivals', and they won't come for a while. As such, any disappointing news from the maintenance trial needs to be put into context, as does any positive news. The debate over Viking Therapeutics won't end with the phase 1 results, but they are likely to impact the stock price in the near term.

Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Eli Lilly and Novo Nordisk. The Motley Fool recommends Viking Therapeutics. The Motley Fool has a disclosure policy.

Standing offer expands access to opioid overdose emergency treatment across participating federal, provincial and territorial organizations in Canada WINNIPEG, Manitoba, Aug. 31, 2026 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) today announced that it has been awarded a standing offer by the Government of Canada, through a competitive procurement process, to supply NARCAN® Nasal Spray. The standing offer is effective from October 1, 2026, through September 30, 2029, with an option to extend for an additional two years.

Under the standing offer, authorized federal departments, agencies, Crown corporations, provinces, territories and other designated public sector organizations across Canada may procure NARCAN® Nasal Spray through individual call-ups, helping support timely access to overdose reversal medication in communities nationwide.

"Canada continues to face a significant public health challenge from the opioid crisis and expanding access to naloxone remains a critical component of overdose response efforts," said Paul Williams, head of products business, global government & public affairs at Emergent. "We are proud that the Government of Canada has selected NARCAN® Nasal Spray under this standing offer, reinforcing our commitment to helping to protect and save lives."

NARCAN® Nasal Spray is designed to reverse the effects of an opioid poisoning in minutes and is the only 4 mg, intranasal naloxone spray in Canada with a shelf life of four years (48 months). This award follows an existing 5-year standing offer between Emergent and the Government of Canada set to expire in September 2026.

"As communities across Canada continue efforts to prevent opioid poisoning deaths, we remain focused on ensuring broad availability of NARCAN® Nasal Spray and supporting public health preparedness," added Danielle Portnik, vice president and general manager at Emergent. "We appreciate the opportunity to continue working with the Government of Canada to improve access to this lifesaving treatment."

About NARCAN® Nasal Spray

NARCAN® Nasal Spray is a pure opioid antagonist indicated for emergency use to reverse known or suspected opioid overdose, as manifested by respiratory and/or severe central nervous system depression.

While NARCAN® Nasal Spray can be administered by a non-health care professional, it is not intended to be a substitute for professional medical care. Always call 911 as soon as an opioid overdose is suspected, before administering NARCAN® Nasal Spray.

Always read the label and follow the directions for use.

About Emergent BioSolutions 
At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify. 

Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including statements regarding the availability and Canadian government procurement of NARCAN® Nasal Spray are forward-looking statements. We generally identify forward-looking statements by using words like “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “should,” “will,” “would,” and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. Forward-looking statements are based on our current intentions, beliefs, and expectations regarding future events based on information that is currently available. We cannot guarantee that any forward-looking statement will be accurate. Readers should realize that if underlying assumptions prove inaccurate or if known or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Readers are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events, or circumstances. Readers should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the U.S. Securities and Exchange Commission, when evaluating our forward-looking statements.

Investor Contact:
Richard S. Lindahl
Executive Vice President, CFO
[email protected]

Media Contact:
Assal Hellmer
Vice President, Communications
[email protected]

MINNEAPOLIS, Aug. 31, 2026 (GLOBE NEWSWIRE) -- OneMedNet Corporation (Nasdaq: ONMD) (“OneMedNet,” the “Company,” “we,” “us” or “our”), a leading provider of first-party (direct-from-source) regulatory decision-grade, AI-driven Real-World Data (RWD), today announced a new agreement to deliver de-identified, full-fidelity clinical Real-World Data to a leading AI-driven drug development company. OneMedNet's iRWD™ Platform enabled cohort feasibility within minutes, data validation within a week, and signed contract within three weeks of initial contact, and is now delivering the data to support the customer's development and validation of AI models designed to accelerate and improve how new therapies are discovered and developed.

The customer selected OneMedNet after recognizing that building AI models capable of genuine innovation in drug development requires full-fidelity clinical studies at a level of quality that only data directly sourced from healthcare providers can deliver. OneMedNet’s network provides that fidelity at scale, with the curation, de-identification, and clinical integrity standards required for AI model training and validation.

“Healthcare innovators are coming to OneMedNet because they see what it takes to build AI that performs in the real world: private clinical data sourced directly from healthcare providers,” said Aaron Green, President & CEO of OneMedNet. “OneMednet provided first-party data is what enables our customers to accelerate the development and validation of their AI models, and we believe the surge in demand we are experiencing reflects it. Our iRWD platform enables this pace — feasibility, validation, contracting, and delivery in a matter of weeks — and the ease of doing business customers can expect.”

The agreement underscores the growing role of OneMedNet’s iRWD™ network — now exceeding 90 million patient journeys, 270 million studies, and more than 2,300 healthcare partner sites — as foundational infrastructure for AI model development across the healthcare and life sciences ecosystem. OneMedNet’s multimodal data spans Radiology, Cardiology, EEG, ECG, and other diagnostic modalities, alongside de-identified electronic health records, with optional tokenized linkage for longitudinally connected, multimodal datasets.

Agreement highlights:

Project feasibility completed within minutes.First-party, direct-from-source data delivered from a live network of Healthcare Provider partner sites.Regulatory decision-grade quality spanning de-identified medical imaging and comprehensive clinical records, suitable for AI model development and downstream regulatory use.Continued commercial momentum reflecting surging demand for private healthcare clinical data sourced directly from healthcare providers. About OneMedNet Corporation
OneMedNet Corporation is revolutionizing Real-World Data (RWD) through its iRWD™ platform, delivering regulatory decision-grade, AI-ready datasets that include de-identified medical imaging alongside comprehensive clinical records. With a network spanning more than 2,300 sites and encompassing over 90 million patient journeys and 270 million studies, OneMedNet serves life sciences companies, medical device manufacturers, AI developers, and other innovators seeking high-quality, compliant healthcare data. The Company’s platform is powered by Palantir Foundry and supports applications ranging from drug development and regulatory submissions to foundational AI model training. Learn more at www.onemednet.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release are forward-looking statements. These statements include, but are not limited to, statements regarding the ability and benefits of our iRWD platform and the demand for our products, our ability to achieve our operational strategies, and statements generally about our products, plans and strategies.

Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include, but are not limited to: our ability to change the direction of OneMedNet; our ability to keep pace with new technology and changing market needs; the competitive environment of our business; risks inherent with investing in Digital Assets, including Digital Asset’s volatility; our ability to implement our Digital Asset treasury strategy and its effects on our business; and the other risks described in our most recent Annual Report on Form 10-K and our subsequent filings with the Securities and Exchange Commission. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

OneMedNet Contacts:
Michael Wong, VP Marketing
Email: [email protected]
SOURCE: ONEMEDNET CORPORATION

Iren (IREN -12.53%) isn't a 2026 story. Many investors rushed to sell their shares after the company's fiscal 2026 fourth-quarter results were released. Iren delivered $137.2 million in revenue in Q4 of fiscal year 2026 (FY26), a 26.7% year-over-year decline.

A $684 million net loss in the quarter and a projected $25 billion to $30 billion in capital expenditures (capex) for fiscal 2027 made things worse and accelerated the sell-off. It's hard to call it disappointing, since it was expected this quarter. The catalysts that make people think Iren is a generational buying opportunity are on the horizon, and this earnings result strengthened the long-term thesis.

Image source: Getty Images.

Iren is taking its sweet time to secure deals Iren is aiming for 300 megawatts of delivered power by 2026 and intends to boost that number to 800 megawatts by the end of 2027. That's a small slice of the company's 5.8 gigawatt portfolio.

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Although the company announced a "multi-year AI Cloud contract with a leading frontier AI lab" in the Q4 FY26 press release, that hasn't been enough for investors. Iren will be forever compared to Nebius, which is closing bigger deals at the moment and realizing AI cloud revenue at a faster rate.

However, the decision to wait has been fruitful. Iren has been closing deals that come to $20 million per megawatt annually. It's even working on deals with tech companies that will provide $25 million per year for each contracted megawatt.

For comparison, the 5-year, $9.7 billion deal with Microsoft was for 200 megawatts. The annual $1.94 billion from that deal puts it at $9.7 million per megawatt. That's less than half of what Iren is getting right now.

If Iren were negotiating that same deal today, it could have ended up with more than $20 billion over five years. This math justifies Iren's decision to be selective with deals. The longer they wait, the more valuable their compute becomes.

The major catalyst did not show up in fiscal 2026 results The Microsoft deal put Iren on the map. While the stock rallied long before this deal as investors speculated about the opportunities, the thesis truly materialized with that deal.

Iren finally announced that it delivered Horizon 1 on Aug. 13. It covers 50 megawatts out of the 200 megawatts included in the deal. Iren CEO Dan Roberts said the company is working to deliver Horizons 2 to 4 "later this year." When that happens, Iren will start to realize all $1.94 billion in annual recurring revenue instead of just a quarter of that figure.

Naturally, a project delivered in August will not appear in the financial results for the quarter ended June 30, 2026. That's why AI cloud revenue only came in at $70.5 million. Horizon 1 will only show up in part of next quarter's results. It will take a little longer for Horizons 2  to 4 to show up in results, but they should be in all future results when the calendar flips to 2027.

Horizon 1 unlocks $485 million in annual recurring revenue. The next two fiscal quarters will feature meaningful sequential growth for Iren's cloud segment just due to the timing of Horizon 1. The delivery of additional projects will fuel the compounding.

Iren can cover its capital expenditures without diluting shareholders The $25 billion to $30 billion capital expenditure figure also spooked investors. That's how much Iren expects to spend in its fiscal 2027. However, Iren CFO Anthony Lewis put those concerns to rest when explaining how the company would raise the necessary capital.

Iren already has $14 billion sitting on its balance sheet. Lewis said the company intends to close the gap with an additional $8 billion in graphics processing unit (GPU) financing and prepayments. He also said that data center financing was on the table.

This news means shareholder dilution, a major point of contention, may be in the past. Prepayments are also rising because Iren can command higher revenue per megawatt. Iren said in its Q4 FY26 press release that prepayments have been representing 45% to 55% of GPU capex.

Iren closed out Aug. 26 with $1 billion in operating annual recurring revenue. That figure includes Horizon 1. It's also expecting $4 billion in operating annual recurring revenue by the end of the year, which puts future AI cloud revenue at $1 billion per quarter. That's vastly higher than the $70.5 million in Q4 FY26 cloud revenue.

The sell-off is an extreme miscalculation from investors who expected Iren to deliver meaningful results right now. That was never in the cards, but the foundation has been set for a big rally in 2027 and beyond.

Ascent Industries NASDAQ: ACNT has completed its transition to a pure-play specialty chemicals company and is pursuing organic growth, product mix improvements and selective acquisitions, Chief Executive Officer Bryan Kitchen said during a company presentation.

Kitchen said the company’s transformation began after its current management team joined in 2024. At that point, Ascent operated both specialty chemicals and stainless-steel businesses. During 2025, the company sold or spun off its stainless-steel assets, leaving a more focused specialty chemicals operation.

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Ascent ended 2025 with roughly $75 million in sales, about 200 employees, four manufacturing sites and six manufacturing plants, according to Kitchen. Approximately 95% of its sales are supported by domestically supplied raw materials.

Growth strategy centers on specialty products The company manufactures specialty chemicals used in markets including agriculture, personal care, water treatment, textiles, oil and gas, and coatings. Kitchen said Ascent has been deliberately shifting its mix toward sales of its own products rather than contract manufacturing, which management believes can provide more predictable and higher-margin revenue.

In 2023, contract manufacturing represented about 90% of sales and product sales represented about 10%, Kitchen said. Through the first half of the current year, the mix had shifted to approximately 65% contract manufacturing and 35% product sales.

Kitchen said the company works with customers on customized chemical solutions, including technical development, supply-chain support, dedicated manufacturing assets and custom manufacturing. He cited a 2024 example in which Ascent developed samples for a prospective customer over a weekend and was subsequently awarded $7 million in net new business over roughly two months. That business has grown since the initial award, he said.

He also discussed a $10 million commercial win secured in the fourth quarter of last year involving a portfolio of 15 to 20 products. The business reached full run rate in late first quarter or early second quarter, Kitchen said.

Ascent’s selling-project pipeline increased by about $100 million from the first quarter of 2025 through the second quarter, according to Kitchen. He said approximately half of that increase was related to the company’s acquisition of Midwest Graphics Sales. The company recorded about 100 selling projects last year, with an average sales cycle of approximately three months and an 18% conversion rate. Management aims to raise that conversion rate toward 30% over time.

Capacity and financial position Kitchen said Ascent’s manufacturing assets are operating at roughly 45% utilization, creating capacity that management believes can be monetized without significant capital expenditures. The company has averaged approximately $1.5 million in annual capital spending during the past four years, he said.

Management believes its existing asset base could support annual revenue of $120 million to $130 million without significant additional capital investment. At that scale, Kitchen said the company believes it could generate gross margins of about 30% to 35%, with selling, general and administrative expenses of about 15% of sales and adjusted EBITDA flow-through of approximately 15%.

Kitchen said Ascent reported record trailing-12-month revenue and adjusted EBITDA in the second quarter, compared with periods dating back to the COVID era. Over the preceding 12 months, revenue increased 9.2%, or about $7 million, while the company also removed approximately $2.1 million in costs.

In response to an analyst question, Kitchen said second-quarter revenue was approximately $30 million, with roughly 20% of the increase organic and the balance tied to the Midwest transaction. He also said the company was “basically cash neutral” from operations as of the second quarter.

Ascent had no debt and approximately $33 million to $34 million of cash, including about $5 million of escrow expected to be released in the near future, Kitchen said. The company repurchased approximately 12.5% of its outstanding shares during the past six quarters.

Midwest Graphics acquisition adds packaging coatings In May, Ascent acquired Midwest Graphics Sales, a family-owned producer of customized coatings for high-value packaging applications. Kitchen said Midwest was previously an Ascent customer and was acquired for $14 million in cash, including approximately $1 million held in escrow. Cash paid at closing was about $13 million.

Midwest generated approximately $11 million in revenue and $2 million in adjusted EBITDA last year, Kitchen said. Its products are used in food-contact applications, beverage packaging, printed materials, playing cards and other niche markets. Kitchen said Midwest’s coating is the only approved coating for World Series of Poker trading cards.

The acquisition was accretive to earnings from its first days under Ascent ownership, Kitchen said. He added that Midwest won a new customer, implemented price increases and completed its back-office and enterprise-resource-planning integration a quarter ahead of schedule.

Ascent plans to begin transferring Midwest production from its leased Chicagoland facility to Ascent sites in the fourth quarter. The transfer is expected to conclude in the first quarter of next year, before the Midwest facility lease expires in early April.

Kitchen said Ascent remains focused on coatings and oil-and-gas applications, particularly corrosion inhibitors. While broader end markets have been soft since COVID, he said the company’s business plan is based on internal operational improvements, product development and market-share gains rather than a recovery in external conditions.

About Ascent Industries (NASDAQ:ACNT)Ascent Industries Co an industrials company, produces and distributes stainless steel pipe and tube and specialty chemicals in the United States and internationally. The company operates through two segments, Tubular Products and Specialty Chemicals. It manufactures welded pipes and tubes, primarily from stainless steel, duplex, and nickel alloys; and ornamental stainless steel tubes for automotive, commercial transportation, marine, food services, construction, furniture, healthcare, and other industries.

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

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For years, investors could only guess how much money Space Exploration Technologies (SPCX +0.45%) was making. Now, they finally have an answer.

SpaceX has reported its first quarterly results as a public company, giving investors an unprecedented look at the financial performance of one of the world's most ambitious businesses.

And the numbers are hard to ignore. Revenue nearly doubled from a year earlier. Starlink continued to add customers at a remarkable pace. The company is already generating billions of dollars from businesses beyond rocket launches.

So, after its first earnings report, is SpaceX stock a buy? I think investors should focus on three things.

Image source: Getty Images.

SpaceX is already a growth machine The first takeaway is simple: SpaceX is no longer just a futuristic story. It's already a large and rapidly growing business.

SpaceX generated $7.8 billion of revenue in the second quarter, up 92% from a year earlier. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 191% to $3.5 billion, while its net loss narrowed to $541 million.

Those are extraordinary growth rates for a company of this size. More importantly, the growth isn't coming from a single product.

SpaceX still operates a rocket launch business. But Starlink, its internet connectivity business, has become an increasingly important part of the company, while its artificial intelligence business is already generating billions of dollars in revenue.

That's an important distinction. Investors aren't buying a company that promises to build the future someday. SpaceX is already building and monetizing parts of that future.

And that's why the first earnings report matters. It gives investors something they didn't have before: financial evidence that the SpaceX machine is working.

Starlink could be the secret weapon Of all the numbers in the earnings report, I'd pay particular attention to Starlink.

The satellite internet business generated $4.3 billion of revenue in the quarter, up 66% from a year earlier. Its subscriber base reached roughly 12 million, about twice the level from a year ago.

But subscriber growth isn't the only interesting part. Starlink generated approximately $1.66 billion of operating income. That's what gets my attention.

Starlink isn't simply another exciting project that requires SpaceX to keep pouring money into it. It's becoming a profit engine.

Think about what that could mean. SpaceX can take the cash generated by Starlink and reinvest it into more satellites, rockets, and infrastructure. Those investments can expand Starlink's network and potentially allow it to serve more customers. More customers can produce more revenue and cash flow. That creates a potentially powerful flywheel.

In other words, Starlink gives SpaceX something many moonshot companies don't have -- a rapidly growing business that can help fund the moonshots. That could prove enormously valuable as the company pursues its ambitions.

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The stock price is the problem Here's where the investment case gets harder.

SpaceX's stock, as of this writing, trades at about $140, giving it a valuation of roughly $1.9 trillion. That's an extraordinary valuation, considering its latest revenue of $7.8 billion.

In other words, investors aren't paying $1.9 trillion for today's SpaceX. They're paying for tomorrow's SpaceX.

They're paying for continued Starlink growth. They're paying for the successful development of Starship -- SpaceX's next-generation rocket. They're paying for the company's rapidly expanding AI ambitions and for markets that may not even exist at a meaningful scale today.

That's why I wouldn't look at SpaceX's 92% revenue growth and conclude that the stock is cheap. It isn't. Great businesses can still be poor investments when expectations get too high.

At this valuation, SpaceX has to deliver more than impressive growth. It has to deliver years of extraordinary growth and eventually convert that growth into substantially higher free cash flow.

So, should investors buy SpaceX? After its first earnings report, I'm more interested in SpaceX than I was before.

The company is growing at an extraordinary rate. Starlink is becoming a meaningful profit generator. And, perhaps most importantly, SpaceX is demonstrating that it can turn ambitious technology into businesses with real customers and real revenue.

But I wouldn't chase the stock simply because the numbers look impressive. The market already knows SpaceX is special. The question is whether it can become far more valuable than even today's enormous expectations suggest.

For that reason, I'd rather buy SpaceX during periods of weakness than at any price. A disappointing Starship test, slower Starlink subscriber growth, or concerns about the company's enormous capital spending could all cause the market to rethink its expectations.

Those moments may create better opportunities for long-term investors.

Canada Pension Plan Investment Board acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 360,845 shares of the real estate investment trust’s stock, valued at approximately $12,088,000. Canada Pension Plan Investment Board owned about 0.16% of Rexford Industrial Realty at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of REXR. Royal Bank of Canada increased its position in shares of Rexford Industrial Realty by 3.5% in the first quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust’s stock valued at $9,849,000 after acquiring an additional 8,506 shares during the last quarter. AQR Capital Management LLC boosted its position in Rexford Industrial Realty by 309.8% during the first quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust’s stock valued at $4,628,000 after purchasing an additional 89,390 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Rexford Industrial Realty by 41.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust’s stock valued at $70,931,000 after purchasing an additional 526,877 shares in the last quarter. Cetera Investment Advisers grew its stake in Rexford Industrial Realty by 52.7% in the second quarter. Cetera Investment Advisers now owns 16,956 shares of the real estate investment trust’s stock valued at $603,000 after purchasing an additional 5,854 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Rexford Industrial Realty by 131.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,252 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 1,848 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Analysts Set New Price Targets A number of equities research analysts have recently issued reports on REXR shares. JPMorgan Chase & Co. upped their price objective on Rexford Industrial Realty from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, August 3rd. Wall Street Zen cut shares of Rexford Industrial Realty from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Mizuho boosted their target price on shares of Rexford Industrial Realty from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Raymond James Financial reaffirmed an “underperform” rating on shares of Rexford Industrial Realty in a research report on Wednesday, August 19th. Finally, Evercore reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $40.93.

Read Our Latest Report on Rexford Industrial Realty Rexford Industrial Realty Price Performance NYSE:REXR opened at $37.12 on Friday. Rexford Industrial Realty, Inc. has a 12-month low of $32.14 and a 12-month high of $44.38. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of -20.51 and a beta of 1.19. The stock’s 50 day moving average price is $36.12 and its two-hundred day moving average price is $35.65. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.42.

Rexford Industrial Realty (NYSE:REXR – Get Free Report) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported ($2.26) EPS for the quarter, missing the consensus estimate of $0.60 by ($2.86). Rexford Industrial Realty had a negative return on equity of 4.61% and a negative net margin of 39.22%.The business had revenue of $243.00 million for the quarter, compared to the consensus estimate of $240.24 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2026 guidance at 2.380-2.430 EPS. On average, analysts anticipate that Rexford Industrial Realty, Inc. will post 2.39 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.74 annualized dividend and a yield of 4.7%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently -96.13%.

(Free Report)

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

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Apple raised its streaming price for Apple TV Friday from $12.99 to $14.99 per month or $119 a year when it used to cost $99.

Apple also raised the price of its Apple One service, which combines Apple TV and other services such as iCloud storage, Apple Music and Apple Arcade.

Apple One is now $21.95 for an individual plan, up from $19.95.

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The cast of Apple TV's "Ted Lasso"  ( Cindy Ord/Getty Images / Getty Images)

The tech giant last raised its streaming prices a year ago from $9.99 to $12.99.

Apple TV isn’t the only streaming service to go up. Peacock, Netflix, Amazon Prime, Hulu, Disney+, Paramount+, Max and YouTube Premium have all raised their prices in some form in the last few years with some putting hikes on ad-free streaming.

Ticker Security Last Change Change % AAPL APPLE INC. 319.70 +5.12 +1.63% Apple TV cost just $4.99 per month when it launched in 2019.

The streaming service includes favorites like "Ted Lasso," "Your Friends and Neighbors," "The Morning Show," "Severance," "Silo," "Mark Matter," plus it has the exclusive rights to the Charlie Brown specials and Formula 1 racing.

Jennifer Aniston promoting "The Morning Show" in June (Monica Schipper/WireImage / Getty Images)

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The price for Apple Music also went up in July from $10.99 to $11.99 per month.

Apple reported a record June quarter with $109.4 billion in revenue, which beat analysts' estimates of $108.65 billion in the company's final earnings report before CEO Tim Cook steps down.

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Apple iPhone 17 Pros are displayed during an Apple special event at Apple headquarters in September 2025 in Cupertino, Calif. (Justin Sullivan/Getty Images / Getty Images)

A 22% jump in iPhone sales, combined with record spring quarter Mac revenue, helped drive the results.

Tariff refunds also boosted Apple's bottom line, adding roughly 5% to profit during the period.

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FOX Business has reached out to Apple for comment.

FOX Business' Susan Li contributed to this report.

Under CEO Tim Cook, Apple (AAPL +1.63%) has delivered an impressive 2,000%-plus return since 2011. Now, as Cook prepares to hand the reins to Apple's senior vice president of hardware engineering, John Ternus, he's doubling down on a stronger domestic supply chain -- with $60 billion earmarked for Texas.

The goal appears straightforward: reduce the risk of future tariff disruptions and protect Apple's margins and earnings path, freeing Ternus, who takes the top job on Sept. 1, to focus on what he does best: building world-class products and services.

Apple CEO Tim Cook. Image source: Apple.

The Texas investment is part of a broader $600 billion, four-year U.S. manufacturing commitment Apple announced last year. Apple still won't be making iPhones in the U.S., but it will manufacture the Mac mini at a new facility in Houston. The new facility will also build and ship Apple's advanced AI servers.

Separately, Apple recently announced a long-term agreement with Broadcom to design and produce custom silicon components and advanced wireless technologies -- a deal expected to exceed $30 billion.

On the company's fiscal Q3 earnings call, Cook said, "This marks our largest-ever American manufacturing program commitment. It's also an important step forward in our work to build an end-to-end silicon supply chain here in the U.S."

Even if making iPhones domestically remains out of reach without meaningfully higher prices, shifting more of the supply chain to U.S. sources should help Apple better manage future changes in tariff and trade policy.

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What the domestic investment means for earnings Apple's latest quarterly report showed how much tariff policies can swing results. Gross margin was 50.1%, with 2 percentage points coming from tariff refunds. Diluted earnings per share grew 29% year over year to $2.02, including $0.11 from refunds. Apple said it is reinvesting those tariff refunds into the U.S. supply chain.

The refunds are for tariffs already paid before the U.S. Supreme Court ruled in February 2026 that certain tariffs were unlawful. But that doesn't eliminate the risk of other tariffs being imposed under different statutes, prompting Apple to continue investing in the U.S.

The near-term pressure point is memory costs. Management described today's surge in memory pricing as a "100-year flood." For fiscal Q4 ending in September, Apple expects gross margin between 47% and 48%, including a one-point benefit from tariff refunds.

Overall, Cook will hand off to Ternus a more resilient U.S. supply chain. Analysts still expect Apple to grow earnings at a low double-digit rate over the long term. While the memory price surge could be a near-term headwind, Apple's efforts to bolster its U.S. supply chain essentially serve as tariff insurance over the long term, helping keep earnings and margins more stable in the event of future policy changes.