Track market-moving stories before they get noisy

Strike will remain a standalone company after the proposed three-way merger was scrapped, while Twenty One Capital and Elektron continue discussions, Bloomberg reported.

A proposed merger involving Tether-backed crypto companies Twenty One Capital, Strike and Elektron Energy has reportedly been scrapped.

Jack Mallers will step down as CEO of Twenty One Capital while remaining CEO of Strike, according to Bloomberg. Elektron Energy CEO Raphael Zagury has been appointed to succeed Mallers.

Strike will continue operating as a standalone company instead of combining with Twenty One Capital. Discussions between Twenty One and Elektron are continuing, Bloomberg reported. Tether holds majority stakes in both companies.

Twenty One’s (XXI) NYSE-traded shares were little changed in Tuesday’s premarket activity.

As Cointelegraph reported in April, Tether said it planned to vote in favor of a proposed merger between Twenty One Capital and Mallers’ Bitcoin payments company, Strike. The proposal also envisioned merging the combined company with Bitcoin miner Elektron Energy.

Twenty One Capital launched in 2025 with backing from Tether, Cantor Fitzgerald and SoftBank. Tether bought SoftBank’s stake in the company in May.

Twenty One held 43,514 Bitcoin at the time of writing, making it the world’s second-largest corporate BTC holder behind Michael Saylor’s Strategy, according to tracking website BitcoinTreasuries.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

EUR/USD edges lower on Tuesday as the US Dollar (USD) strengthens amid heightened tensions in the Middle East. At the time of writing, the pair trades around 1.1405, hovering near one-week lows.

Meanwhile, stronger-than-expected ZEW surveys provided little support to the Euro (EUR). Eurozone Economic Sentiment jumped to 23.4 in July from 9.5 in June, beating the forecast of 11.2. Germany’s Economic Sentiment Index climbed to 26.3 from 10.5, well above the market expectation of 18.

The US military carried out a tenth consecutive night of strikes against Iran, while Tehran targeted US military assets across the region. The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, trades around 101.15, extending its gains for a fourth straight day.

Diplomatic efforts offer some hope of a pause in the fighting. Mediators have proposed a 10-day ceasefire aimed at reviving last month’s interim US-Iran agreement. However, continued military exchanges have disrupted energy shipments through the Strait of Hormuz, triggering a rebound in Oil prices and reigniting inflation concerns.

As a result, traders expect the European Central Bank (ECB) and the Federal Reserve (Fed) to keep monetary policy tighter for longer. Both central banks are expected to leave interest rates unchanged at their upcoming policy meetings. However, further rate hikes remain possible if inflation pressures intensify.

Euro holds tight range as ECB repricing supports but fails to spark momentumAnalysts at Scotiabank observe that short-term rates markets “are showing signs of stabilization ahead of Thursday’s ECB decision, consolidating the recent hawkish repricing that has delivered fundamental support to the EUR via yield spreads.”

In terms of policy expectations, Scotiabank highlights that “markets are pricing little change for the July 23 decision, favoring September with 22bpts of tightening currently reflected in OIS with a cumulative 43bpts by December.”

From a technical perspective, the bank’s stance remains “neutral – the EUR’s technicals are offering little in terms of momentum as the RSI shows signs of stabilization just below the neutral threshold at 50.” They add that “recent price action has been narrowly confined to a tight range roughly bound between 1.1380 and 1.1480,” and that they “remain neutral absent a meaningful push toward 1.1500 and the 50-day MA at 1.1516.”

Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the British Pound.

USDEURGBPJPYCADAUDNZDCHFUSD0.06%0.41%0.28%0.19%-0.15%0.12%0.25%EUR-0.06%0.35%0.22%0.14%-0.18%0.06%0.20%GBP-0.41%-0.35%-0.11%-0.21%-0.53%-0.28%-0.15%JPY-0.28%-0.22%0.11%-0.08%-0.40%-0.17%-0.02%CAD-0.19%-0.14%0.21%0.08%-0.33%-0.08%0.06%AUD0.15%0.18%0.53%0.40%0.33%0.25%0.40%NZD-0.12%-0.06%0.28%0.17%0.08%-0.25%0.13%CHF-0.25%-0.20%0.15%0.02%-0.06%-0.40%-0.13% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Key Takeaways CDW continues acquisitions and capital allocation to support long-term growth and shareholder returns.CDW returned $282 million to shareholders in Q1 2026 through buybacks and dividends.CDW expects Geared for Growth to deliver $100M-$200M annual run-rate improvements by 2027-2028. CDW Corporation (CDW - Free Report) continues to execute a disciplined capital allocation strategy focused on supporting long-term growth while returning capital to shareholders. The company supplements organic growth through acquisitions that expand its capabilities across key technology areas. Previous acquisitions, including Mission Cloud Services, Enquizit, Sirius Computer Solutions and Lexicon Tech Solutions, have strengthened CDW's cloud, managed services and lifecycle offerings, enabling it to address evolving customer priorities. On the last earnings call, management stated that it continues to evaluate merger and acquisition opportunities that can accelerate its three-part growth strategy while maintaining flexibility within its capital structure.

The company also continues to generate strong cash flow that supports its shareholder-return strategy. During the first quarter of 2026, CDW generated adjusted free cash flow of $251 million, representing 85% of non-GAAP net income and remaining within its long-term objective of converting 80% to 90% of non-GAAP net income into cash. The company utilized this cash in line with its 2026 capital allocation objectives by returning $201 million through share repurchases and $81 million through dividends, bringing total capital returned to shareholders to $282 million, or 112% of adjusted free cash flow during the quarter.

Management remains committed to maintaining net leverage within its targeted range of 2x to 3x while proactively managing liquidity. At the end of the first quarter, net leverage was 2.5x, within the company's target range. CDW also reiterated that dividend growth remains its first capital allocation priority, targeting a payout ratio of approximately 25% of non-GAAP net income, while share repurchases and acquisitions continue to serve as important drivers of shareholder value.

In addition to its capital deployment strategy, CDW expects productivity initiatives under its Geared for Growth program to begin contributing benefits in the second half of 2026. The multi-year initiative is designed to simplify operations, modernize processes and embed AI across the business. Management has identified expected annual run-rate improvements of $100 million to $200 million through 2027 and 2028, with a portion of the savings being reinvested to support the company's broader growth strategy and future investment capacity. Separately, in May 2026, CDW's board authorized an additional $1 billion for share repurchases, increasing the company's remaining buyback authorization as of March 31, 2026, to approximately $1.48 billion subject to future board approvals.

Taking a Look at CDW’s CompetitorsTD SYNNEX Corporation (SNX - Free Report) maintains a balanced capital allocation strategy through shareholder returns while supporting business growth. In fiscal 2025, the company returned $742 million to shareholders, including $596 million through share repurchases and $146 million in dividends. In the second quarter of fiscal 2026, it returned $151 million, comprising $112 million of share buybacks and $39 million of dividends. During the first half of fiscal 2026, TD SYNNEX repurchased $192 million of shares and paid $77 million in dividends. The company stated that this shareholder return policy reflects its financial strength and expectations of generating sufficient earnings and distributable cash flows.

Accenture plc (ACN - Free Report) follows a disciplined capital allocation strategy, balancing acquisitions, investments and shareholder returns. In fiscal 2025, the company invested $1.5 billion across 23 acquisitions, including Avanseus, RANGR Data, Decho and IAMConcepts, to expand capabilities across AI, data, engineering and identity and access management. At the end of the third quarter of fiscal 2026, Accenture held $10.2 billion in cash and cash equivalents against $5 billion in long-term debt, while generating $3.8 billion in operating cash flow and $3.6 billion in free cash flow. The company also maintained its consistent dividend payments, distributing $3.7 billion in fiscal 2025.

CDW Price Performance, Valuation and EstimatesShares of CDW have gained 5.2% in the past month compared with the Computers - IT Services industry’s growth of 1.7%.

Image Source: Zacks Investment Research

Valuation-wise, CDW seems attractive, as suggested by the Value Score of B. CDW trades at a forward 12-month price-to-earnings (P/E) ratio of 12.04, below the industry’s 16.94.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for CDW’s earnings for 2026 has been revised marginally upward over the past 60 days.

Image Source: Zacks Investment Research

CDW currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Road Town, British Virgin Islands, July 21st, 2026, Chainwire

STON.fi, the leading AMM protocol on The Open Network (TON), today announced the launch of cross-chain swaps in the STON.fi app, giving users a direct way to move stablecoins between TON, TRON, Ethereum, Base, BNB Chain, Polygon, Avalanche, Arbitrum, and Robinhood Chain through a unified, self-custodial interface. 

The launch connects TON to major liquidity and application ecosystems across crypto. As a result, users can move capital between stablecoin markets, TON-native assets, DeFi protocols, and Telegram-native applications without relying on centralized exchanges, bridges, or wrapped assets.

Stablecoins have become one of crypto’s most important markets, with more than $300 billion in total market capitalization, led by TRON and Ethereum as the two largest stablecoin networks. Through cross-chain swaps, STON.fi connects TON with major stablecoin ecosystems in both directions: TON users gain access to liquidity across networks, while TRON and EVM users get a more direct path into TON-native assets, wallets, DeFi protocols, and Telegram-native applications — all through one self-custodial experience without managing bridges, wrapped assets, routing decisions, or settlement uncertainty.

Omniston, the execution layer developed by STON.fi, coordinates the full swap process between source and destination chains. More than a routing or liquidity aggregation system, it is designed to help cross-chain stablecoin flows complete predictably, from pricing to settlement.

"People don't think in terms of blockchains — they think in terms of what they want to do," said Slavik Baranov, CEO of STON.fi Dev. "Our goal is to make moving between ecosystems feel as simple as swapping within one network. Omniston handles the complexity so users can focus on the outcome, not the infrastructure."

For users, the key benefits are speed and predictability. Most swaps complete in 15–40 seconds, allowing users to swap assets between any supported chains without the longer wait times often associated with cross-chain transactions. When a swap is confirmed, Omniston connects the order with independent liquidity providers, known as resolvers, that supply the asset on the destination chain. The transaction is executed through linked Hashed Timelock Contracts (HTLCs) — smart-contract escrows on both chains that use the same cryptographic condition — so both sides of the swap complete together or the transaction does not complete at all. Before confirming, users see the asset and amount they are expected to receive. If the swap cannot be completed, funds are returned instead of being left stuck, partially executed, or unclear.

With cross-chain swaps now live, STON.fi is moving beyond a chain-specific DeFi protocol toward a product built around user intent. As stablecoin liquidity, consumer applications, and DeFi markets spread across networks, users need easier ways to move value without giving up self-custody or managing the infrastructure behind each transaction. For TON and the broader crypto market, the launch introduces a more practical access layer between major liquidity networks, application ecosystems, and the wider onchain economy.

For more information, users can visit STON.fi's cross-chain swap interface: app.ston.fi/cross-chain 

About STON.fi

STON.fi is a cross-chain decentralized application for token swaps across TON, TRON, and major EVM-compatible blockchains. Originally established as the leading AMM protocol and one of the most widely used DeFi applications on The Open Network (TON), STON.fi helps users swap assets, access DeFi opportunities, and move value across blockchains through a simple cross-chain experience. Its cross-chain capabilities are powered by Omniston, the execution layer developed by STON.fi to support reliable and predictable swaps across multiple networks. Backed by leading investors including CoinFund, Delphi Ventures, The Open Platform, Karatage, TON Ventures, and others, STON.fi is building the infrastructure that connects users, liquidity, and applications across the onchain economy.

ContactHead of Communications
Ekaterina
STON.fi Dev
[email protected]

Disclaimer: Press release sponsored by our commercial partners.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Wall Street expects a year-over-year decline in earnings on higher revenues when Asbury Automotive Group (ABG - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 28. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis auto dealership chain is expected to post quarterly earnings of $6.30 per share in its upcoming report, which represents a year-over-year change of -15.2%.

Revenues are expected to be $4.46 billion, up 2.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.88% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Asbury Automotive?For Asbury Automotive, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.46%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Asbury Automotive will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Asbury Automotive would post earnings of $5.68 per share when it actually produced earnings of $5.37, delivering a surprise of -5.46%.

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

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Asbury Automotive doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

SCHAUMBURG, Ill., July 21, 2026 (GLOBE NEWSWIRE) -- Paylocity, a leading provider of HCM, Finance, and IT solutions, today introduced Paylocity Ignite AI, its platform-wide AI with agents that automate manual work, help reduce risk, and enable teams to move faster. Embedded throughout Paylocity’s platform, Ignite AI brings data, insights, and automation into moments where decisions are made and work gets done.

Purpose-Built Agents That Help Teams Take Action

Ignite AI includes new, purpose-built agents that automate tasks across pay, time, recruiting, and other areas where work often slows down.

Answer & Insight Agent

Getting answers from your data today means running reports, exporting spreadsheets, or waiting on someone else to dig them out. And even then, a report shows what happened, not why. Clients told us they need to explore their data on their own terms, because every business asks different questions. The Answer & Insight Agent was built for exactly that: ask a question in natural language and get answers in real time, pulling from your company data across the platform.

Hire faster by understanding exactly where the recruiting funnel breaks downProactively manage overtime in real time before it becomes a cost problemVisualize turnover trends in a clear chart with actionable insights ready to share with senior leadersAnalyze what is driving costs across locations, teams, and shiftsSpot the pay, performance, or retention risks hiding across the workforceUnderstand where onboarding stalls and what it's costing in productivity The real power is in the back-and-forth: ask follow-ups, visualize trends, and go deeper. Because the agent isn’t built around a fixed set of questions, it goes wherever your thinking does. It turns blind spots into real-time, strategic decisions.

Payroll Analysis Agent

Reviewing every anomaly in a large payroll before the deadline takes hours, and errors still slip through. The Payroll Analysis Agent helps payroll teams catch issues before submission by:

Surfacing anomalies based on each organization's historical payroll trendsExplaining what changed and why it matters in plain languageFocusing review on the areas that need attention Payroll admins spend less time hunting for issues and more time resolving them.

Candidate Fit Agent

High-volume recruiting teams need every advantage to move quickly without sacrificing quality. The Candidate Fit Agent helps recruiters:

Surface candidates for review based on role criteriaSummarize how applicants match role requirements, while flagging criteria that may not be compliantReduce time spent sorting and sourcing across large applicant pools Recruiters stay in control of every hiring decision, spending less time screening and more time engaging candidates.

Ignite AI also includes additional agents that improve data quality and streamline payroll operations, including the Resume Summary Agent, which gives recruiters candidate overviews; the Data Inspection Agent, which detects gaps in employee records and guides resolution before they cause downstream issues; and the Time Correction Agent, which surfaces time errors, requests, and compliance issues so supervisors can resolve them before payroll deadlines. These join a growing set of agentic experiences available today including guided benefits enrollment, expense submission, and accounts payable validation, with additional agents planned across scheduling, candidate engagement, and more.

Managing AI with Confidence

To help organizations scale AI responsibly, Paylocity is introducing the Ignite AI Hub, a centralized dashboard for managing and measuring AI across the organization.

With Ignite AI Hub, leaders can:

Measure business impact and productivity gainsMonitor adoption across teamsControl which agents are activeIdentify new opportunities for automation The Ignite AI Hub provides the visibility and control organizations need to confidently deploy AI while keeping people at the center of decision-making.

Shaped Directly by Clients

Ignite AI was developed alongside clients. Paylocity assembled an advisory group of HR and business leaders to help identify high-impact opportunities, validate real-world use cases, and guide product innovation.

“The way Paylocity is weaving AI across the platform is better than anything I’ve seen in other systems,” said Ryan Zimmerman, VP of Human Resources at POLYWOOD. “I’m so excited by the momentum I’m seeing and to be part of shaping it.”

"It actually feels like I have another team member supporting me," said Genevieve Gonnigan, VP of HR & People and Culture, at Lincoln Park Zoo. "Manual processes are a time suck, and Ignite AI turns things that would be a 5- to 10-minute process into a 30-second question or resolves them on its own."

“Ignite AI is the next evolution of AI at work: embedded across the Paylocity platform, built for every team, and informed by the real-world needs of clients who use it every day,” said Toby Williams, President and CEO of Paylocity. “It brings intelligence and automated action directly into the flow of work, helping organizations move faster, make confident decisions, and unlock greater value from their teams. This is only the beginning of what we're building.”

Learn more about Ignite AI.

About Paylocity

Headquartered in Schaumburg, IL, Paylocity (NASDAQ: PCTY) is an award-winning provider of HCM, Finance, and IT software solutions. Paylocity offers one unified, easy-to-use platform that helps businesses across HR, Finance, and IT streamline operations, manage spend and talent, and build culture and connection—with AI embedded directly into everyday workflows to save time, reduce manual effort, and support better decisions. Known for its unique culture and consistently recognized as one of the best places to work, Paylocity accompanies its clients on the journey to create great workplaces and help all employees achieve their best. For more information, visit www.paylocity.com.

CONTACT:
Nicole Andergard Reddy
[email protected]

503-855-7385

, /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that its U.S. wholesale brokerage, binding authority and programs division, Risk Placement Services, Inc. (RPS), has acquired Greensburg, Pennsylvania-based W.N. Tuscano Agency, Inc. (Tuscano). Terms of the transaction were not disclosed.

Tuscano is a managing general agency (MGA) and wholesale insurance broker for independent agents in western Pennsylvania. The Tuscano team, led by Robin Tuscano, will remain in their current location under the direction of Steve Levin, Northeast Region leader for RPS.

"Tuscano is a highly regarded agency that complements our market expertise and further expands our wholesale capabilities in Pennsylvania," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome Robin and his associates to our growing, global team."

Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.

SOURCE Arthur J. Gallagher & Co.

Zcash [ZEC] has rallied nearly 37% since developers deployed the Ironwood [NU6.3] upgrade to testnet earlier this month, with the privacy-focused cryptocurrency outperforming many of its peers ahead of the protocol’s next major network upgrade.

As the community prepares for Ironwood’s mainnet activation, the upgrade also marks the beginning of the end for zcashd. This is the network’s long-running reference node, making this one of the most significant transitions in Zcash’s history.

Ironwood aims to strengthen confidence in Zcash’s supply The Zcash Open Development Lab deployed the Ironwood [NU6.3] upgrade to testnet on July 2, with activation following on July 4. The milestone serves as the final testing phase before the planned mainnet rollout later this month.

Ironwood was introduced following the disclosure of an Orchard protocol vulnerability in June. While developers said there was no evidence the issue had been exploited or that user funds were at risk, the flaw highlighted a limitation in proving the integrity of Zcash’s shielded supply.

To address that, Ironwood introduces a new shielded pool alongside a “turnstile” mechanism that enables the network to verify the amount of ZEC migrating into the new pool without compromising transaction privacy.

The upgrade is designed to strengthen confidence in Zcash’s circulating supply while preserving the privacy guarantees that distinguish the network from other cryptocurrencies.

Legacy zcashd node heads for retirement Ironwood also marks a major infrastructure shift for the ecosystem.

The long-running zcashd reference implementation will not support NU6.3. It is being phased out as the network transitions to a Rust-based architecture built around Zebra, Zaino, and Zallet.

Developers have urged node operators to migrate before Ironwood activates on mainnet, as legacy zcashd nodes are approaching their automatic end-of-life shutdown. It will no longer participate in the upgraded network.

The transition represents one of the largest architectural changes since Zcash launched. It replaces the software that has underpinned the blockchain for years.

ZEC price prediction: Bulls pause after 37% advance At press time, ZEC traded around $546, up roughly 37.4% from its early July lows.

The rally has since slowed into a period of consolidation, with buyers attempting to establish support after reaching the recent highs.

The daily RSI stood at around 58, indicating bullish momentum remained intact without entering overbought territory. That suggests buyers still hold a modest advantage. However, the strong upside momentum seen earlier in the month has begun to moderate.

Source: TradingView The immediate resistance lies around $560, where recent advances have repeatedly stalled.

A decisive breakout above that level could pave the way for another attempt at $600, a price zone that acted as resistance earlier this year.

On the downside, the $500 region has emerged as the first meaningful support. Holding above that level would preserve the current higher-low structure. At the same time, a break below it could trigger a deeper pullback before buyers attempt another advance.

Final Summary Zcash’s Ironwood upgrade has entered its final testing phase, introducing a new shielded pool while paving the way for the retirement of the legacy zcashd node. ZEC has gained nearly 37% since Ironwood entered testnet, with bulls now attempting to break above the $560 resistance to target $600.

Wall Street analysts expect Knight-Swift Transportation Holdings (KNX - Free Report) to post quarterly earnings of $0.49 per share in its upcoming report, which indicates a year-over-year increase of 40%. Revenues are expected to be $2.01 billion, up 8% from the year-ago quarter.

Over the last 30 days, there has been an upward revision of 7.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

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

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

Given this perspective, it's time to examine the average forecasts of specific Knight-Swift metrics that are routinely monitored and predicted by Wall Street analysts.

Analysts forecast 'Revenue, excluding truckload and LTL fuel surcharge' to reach $1.73 billion. The estimate suggests a change of +3.6% year over year.

The consensus among analysts is that 'Truckload and LTL fuel surcharge' will reach $271.42 million. The estimate points to a change of +43.1% from the year-ago quarter.

The consensus estimate for 'Operating revenue- LTL' stands at $405.31 million. The estimate suggests a change of +4.8% year over year.

The collective assessment of analysts points to an estimated 'Revenue, excluding fuel surcharge- LTL Segment' of $340.60 million. The estimate indicates a change of +0.9% from the prior-year quarter.

The average prediction of analysts places 'Operating Ratio' at 93.5%. Compared to the current estimate, the company reported 96.1% in the same quarter of the previous year.

Analysts expect 'Adjusted Operating Ratio' to come in at 92.9%. Compared to the present estimate, the company reported 93.8% in the same quarter last year.

The combined assessment of analysts suggests that 'Adjusted Operating Ratio - Truckload' will likely reach 92.9%. The estimate compares to the year-ago value of 94.6%.

It is projected by analysts that the 'Adjusted Operating Ratio - LTL' will reach 91.4%. The estimate is in contrast to the year-ago figure of 93.1%.

Based on the collective assessment of analysts, 'Adjusted Operating Ratio - Logistics' should arrive at 96.3%. The estimate compares to the year-ago value of 94.8%.

Analysts' assessment points toward 'Average tractors - Truckload' reaching 20,865 . Compared to the present estimate, the company reported 21,311 in the same quarter last year.

According to the collective judgment of analysts, 'Load count - Intermodal' should come in at 38,307 . Compared to the present estimate, the company reported 32,682 in the same quarter last year.

Analysts predict that the 'Average revenue per load - Intermodal' will reach $2623.91 . Compared to the current estimate, the company reported $2572.00 in the same quarter of the previous year.

View all Key Company Metrics for Knight-Swift here>>>

Shares of Knight-Swift have experienced a change of +0.3% in the past month compared to the -0.6% move of the Zacks S&P 500 composite. With a Zacks Rank #1 (Strong Buy), KNX is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

NEAR Protocol Deploys NIST-Approved Post-Quantum SigningNEAR Protocol has activated quantum-safe signing on mainnet as part of network upgrade 2.13, making it one of the first Layer-1 blockchains to ship a NIST-approved post-quantum signature scheme in a live production environment. The upgrade adds quantum-safe signing through the NIST-approved FIPS-204 (ML-DSA) scheme alongside dynamic resharding, a scalability enhancement that enables the protocol to automatically scale as network demand grows.

The team chose FIPS-204 (ML-DSA, formerly known as CRYSTALS-Dilithium), a lattice-based digital signature algorithm formally standardized by NIST in August 2024 as part of the agency's first batch of post-quantum cryptography standards. The upgrade allows account holders to migrate to post-quantum cryptography through a single on-chain transaction without transferring assets or changing account addresses.

The urgency behind the move is hard to ignore. Google's Quantum AI team has published research on the risk to cryptocurrency directly, with an estimated $470 billion of Bitcoin at risk. A U.S. executive order issued in June 2026 also requires federal agencies to transition high-value systems to post-quantum cryptography by the end of the decade, with digital signature migration scheduled for completion by 2031.

Automatic Resharding Removes a Key BottleneckThe second major component of the 2.13 upgrade addresses scalability. NEAR's sharded architecture previously scaled horizontally by adding shards, but each addition required a full protocol upgrade involving weeks of validator coordination, a vote, and a staged rollout. Dynamic resharding now enables the network to automatically scale by splitting shards without validator votes or manual upgrades.

On blockchains like Bitcoin and Ethereum, addresses are derived from keypairs tied to breakable cryptography, so migrating to a new signing scheme means migrating the address itself. NEAR accounts are decoupled from cryptography: since mainnet launched in 2020, NEAR has used human-readable account IDs controlled through rotatable access keys, not bound to a single keypair. This architectural choice is what makes the migration comparatively straightforward for NEAR users.

NEAR is also actively working with hardware and software wallet builders, including Ledger, on bringing post-quantum support to the market.

Sources:
NEAR Protocol Official Press Release via PR Newswire
Crypto Times: NEAR Launches Quantum-Safe Mainnet Upgrade With Resharding
CoinTrust: NEAR Activates Quantum-Resistant Security

Blockchain

21 July 2026 | 09:38 Solana ended the second quarter with two very different stories. Trading in tokenized assets on the network more than doubled to a record $5.8 billion in quarterly volume, but overall decentralized exchange activity, lending and revenue generated from network use all declined.

Key Takeaways Tokenized-asset trading volume on Solana reached $5.8 billion in Q2, rising 114% and led by tokenized equities. Solana retained 32% of spot DEX volume despite a sharp decline in overall trading. Network revenue fell 43%, showing that trading growth did not translate directly into greater fee demand. SOL investment products attracted capital while staking income remained heavily dependent on token issuance. The contrast is not necessarily contradictory. Tokenized-asset volume measures how much tokenized financial exposure changed hands on Solana’s exchanges, while total DEX volume, lending and Real Economic Value show how much of the network’s activity converted into fees and borrowing demand.

Together, the figures suggest that Solana’s capital-markets ecosystem expanded faster than the revenue the network earns from it.

Tokenized Equities Became Solana’s Main Growth Story Tokenized-asset trading volume increased by 114% quarter over quarter and set a record for a sixth consecutive quarter, according to Blockworks Advisory’s Q2 2026 Solana Tokenholder Report. The report was commissioned by the Solana Foundation, which may provide input on its content, although Blockworks Advisory states that it retains editorial control. That funding relationship is worth keeping in mind when weighing the report’s framing, even where the underlying data is verifiable.

Solana tokenized asset volume by category. The $5.8 billion figure describes trading volume, not the market value of assets held on Solana and not revenue earned by the network. It measures how much tokenized exposure was bought and sold through Solana’s decentralized exchanges during the quarter.

Tokenized equities dominated that activity with $4.8 billion, or 84% of the total, roughly four times their Q1 volume. The report estimates that Solana now processes approximately 97% of tokenized-equity trading across all blockchains. June alone contributed $3.3 billion of equity volume, a surge catalyzed by the tokenized listing of SpaceX following its June 12 public offering. Private credit added $803 million, with smaller contributions from commodities and collectibles.

The market continued expanding after the quarter ended. On July 10, 2026, tokenized exposure to SK Hynix went live on Solana through Backpack Securities, xStocks and Ondo Finance.

Those products provide similar economic exposure through different legal, custody and redemption structures. That distinction matters because tokenized assets are not a single standardized product category. As our guide to RWA tokenization platforms explains in detail, investors still need to examine who issued each token, what backs it, whether it can be redeemed and which users are eligible to hold it.

Solana Kept Its DEX Lead as Trading Slowed Solana decentralized exchanges processed $160.8 billion in spot volume during Q2. That was down 44% from $288.5 billion in the previous quarter, but the network still handled approximately 32% of spot DEX volume across the blockchains measured.

Spot DEX volume share by blockchain. Ethereum followed with 25%, while Base and BNB Chain accounted for 16% and 12%, respectively. Q2 was the eighth consecutive quarter in which Solana controlled more than 30% of the measured spot market.

This combination requires context. Solana did not lose its relative position against competing networks, but the overall market became less active. Maintaining market share in a contracting market is different from generating absolute growth. The monthly path was more constructive than the quarterly total: volume fell from $52.3 billion in April to $48.0 billion in May, then rebounded 26% to $60.5 billion in June as tokenized-asset activity accelerated.

Application revenue also fell 31% to $228.4 million. Perpetual futures presented a different picture, with notional volume increasing 60% quarter over quarter to $183 billion, but that recovery did not offset weaker activity across the rest of the ecosystem.

The composition of that revenue also complicates the diversification story. Pumpfun, the memecoin launchpad, remained the ecosystem’s largest business with $90.1 million, or 39% of all application revenue, and accounted for 97% of launchpad revenue. Tokenized equities may be the growth story, but the single biggest earner on Solana is still the speculative category the network is described as moving beyond. That concentration reached a new high in Q2 precisely because the rest of the market shrank faster.

Network Revenue Fell Faster Than Market Share Solana’s Real Economic Value, or REV, totaled $51 million in Q2, down 43% from the previous quarter. REV measures transaction fees and out-of-protocol tips paid by users while excluding inflationary token issuance.

Solana quarterly network revenue breakdown. Monthly REV declined from $18.6 million in April to $18.1 million in May and $14.3 million in June. Priority fees fell 45% to $30.8 million, while Jito tips dropped 50% to $9.9 million. Base and vote fees contributed another $10.3 million.

The decline also cost Solana relative position among blockchains. The report ranks Solana fourth in quarterly network revenue with a 12% share, behind Hyperliquid at 33% with $141.4 million, Tron at 21% and Ethereum at 15%, down from Solana’s 18% share in Q1. Hyperliquid’s lead rests on the trading-fee engine we examined in our analysis of the platform’s $1.2 billion in cumulative fees. The comparison is uncomfortable for Solana’s economics: a network processing billions of transactions earned roughly a third of what a single derivatives-focused chain collected in the same quarter.

Solana still processed 9.8 billion non-vote transactions during the quarter, with a median transaction fee near $0.0004. However, 27% of those transactions reverted, a share the report attributes to automated arbitrage strategies and describes as a feature rather than a bug. That characterization is the report’s reading, not a settled fact. Daily active addresses also fell from 2.4 million in Q1 to 2.0 million, meaning the network processed nearly as many transactions from a noticeably smaller user base. The network remained heavily used, but high transaction counts did not automatically produce high revenue because individual transactions remained extremely inexpensive.

Lending Has Not Followed Tokenization Higher Deposits across Kamino and Jup Lend ended the quarter near $4.1 billion, while outstanding loans stood at approximately $1.6 billion. Deposits declined 8.3%, and loans fell 7.9%.

The pullback was more pronounced in real-world asset lending. Deposits connected to RWA markets dropped from $1.23 billion in Q1 to $640 million in Q2, a decline of 48%.

This exposes an important gap in the tokenization narrative. Solana can host record trading in stocks, credit products and funds without those assets immediately becoming widely used as collateral or generating substantial borrowing demand.

A stronger confirmation of adoption would involve tokenized-asset growth occurring alongside expanding collateral use, higher borrowing demand and deeper secondary-market liquidity. Q2 delivered the first part, but not the others.

Staker Income Still Came Mostly From Inflation SOL’s nominal staking yield ended the quarter near 5.5%, down from 5.8% at the end of Q1. With inflation around 3.8%, the estimated real staking yield was approximately 1.7%.

Stakers earned $487 million during Q2, down 23% from $630 million in the previous quarter. More than 98% of that revenue came from token issuance, while Jito tips contributed roughly $8.2 million.

This means staking rewards continued to depend primarily on newly issued SOL rather than fees generated by network activity. For long-term token economics, the balance between issuance, fee income and token burning is more informative than the headline staking percentage alone.

The Proposed Burn Increase Is Not Yet Active The report estimated that SIMD-553 could burn between 7,500 and 9,000 SOL per day under current activity assumptions, roughly ten times the existing rate and equivalent to around 12% to 15% of daily issuance.

That is a modeled scenario, not the current burn rate or a guaranteed outcome. SIMD-553 remains a proposal and would need to pass the necessary governance and implementation stages before changing SOL’s supply dynamics.

Under Solana’s current fee structure, 50% of the base transaction fee is burned. The remaining half and all priority fees are paid to the validator producing the block.

A larger burn could strengthen the connection between network activity and SOL demand, but it would not automatically make the token deflationary. Even the report’s estimated burn remains below total daily issuance.

Investment Products Attracted Capital Through the Downturn SOL spot investment products recorded approximately $120 million in net inflows during Q2, extending positive flows for a third consecutive quarter. Over the same period, Blockworks data showed $3.7 billion of outflows from Bitcoin products and $500 million from Ethereum products.

Solana quarterly ETP flows. The comparison should be treated carefully because the products differ substantially in size, age and investor base. Still, the direction of flows suggests that some investors continued building regulated Solana exposure despite weaker onchain revenue and lower market activity.

Official SEC filings confirm the expansion of that investment infrastructure. The Grayscale Solana Staking ETF trades on NYSE Arca under GSOL, while the 21Shares Solana ETF trades on Cboe BZX under TSOL. The pipeline is still growing: Morgan Stanley filed a third round of SEC amendments on July 14 for spot Ethereum and Solana ETFs expected to trade under MSSE and MSOL. Traditional financial institutions are building similar infrastructure on other networks as well, as we covered in out report on JPMorgan’s tokenized money market fund.

Positive fund flows do not guarantee higher SOL prices or stronger network revenue. They show demand for regulated exposure, which is separate from activity taking place inside Solana applications.

What Solana’s Q2 Results Actually Show Q2 was not simply strong or weak. Solana gained ground as infrastructure for trading tokenized assets and retained its lead in decentralized spot trading, but the network generated less revenue and experienced weaker lending demand.

The constructive interpretation is that Solana is broadening beyond the speculative activity that powered its earlier revenue peaks. The more cautious interpretation is that tokenized-asset growth has not yet translated into enough borrowing, trading intensity or fee generation to strengthen the network’s underlying economics, that the user base contracted during the quarter, and that the largest single source of application revenue remains a memecoin launchpad.

The next confirmation would come from several metrics improving together: continued tokenized-asset growth, recovering REV, greater use of tokenized securities as collateral, sustained investment-product inflows and a larger share of staking rewards funded by actual fees instead of issuance.

Until then, Solana’s institutional expansion is real, but the economic value captured by the network remains the part that still needs to catch up.

Source review: Q2 figures were checked against Blockworks Advisory’s Q2 2026 Solana Tokenholder Report, which was commissioned and funded by the Solana Foundation, with Blockworks Advisory stating it retains editorial control. Recent developments were reviewed against Solana Foundation publications, Solana’s technical documentation and SEC filings as of July 21, 2026. Coindoo has no commercial relationship with any entity mentioned.

This article is provided for informational purposes only and does not constitute financial or investment advice.

Author

Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.

Redwire Corporation (NYSE:RDW) is trending Tuesday after a busy start to the week, with the company opening a new research facility in Indiana and announcing a major manufacturing expansion in Huntsville, Alabama.

Redwire stock is showing exceptional strength. Why are RDW shares rallying? Redwire Expands Microgravity Innovation in IndianaThe company marked the opening with a ribbon-cutting ceremony on July 20, attended by Indiana Governor Mike Braun, Redwire Chairman and CEO Peter Cannito, and several former NASA astronauts.

“The new Georgetown facility serves as the cornerstone of Redwire’s ability to scale, support major programs around the world, and help shape the expanding orbital economy that will drive the future of space development while benefiting millions here on Earth,” said Mike Gold, President of Redwire Space.

Redwire Expands Huntsville Campus, Adds150 Jobs“Huntsville is one of the fastest growing technology hubs in the United States, uniquely positioned at the intersection of America’s space and defense industries, which makes it the ideal location to expand our capabilities and strengthen America’s industrial base,” said Cannito.

Redwire Shares RiseRDW Price Action: At the time of publication, Redwire shares are trading 2.68% higher at $8.83, according to data from Benzinga Pro.

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Sandisk Corporation (NASDAQ:SNDK) stock climbed over 10% in Tuesday’s session as bullish analyst commentary and a broader rally in technology stocks fueled buying in the memory-chip maker.

Nasdaq futures rose 1.30%, while S&P 500 futures gained 0.39%, supporting risk appetite across the technology sector.

Morgan Stanley Sees Memory Cycle StrengtheningMorgan Stanley analyst Joseph Moore said the recent pullback in U.S. memory stocks presents an attractive buying opportunity. He cited persistent data center memory shortages and forecast memory prices will rise at least 25% from the second quarter to the third quarter of 2026.

Moore said the current memory cycle remains driven almost entirely by data center demand, while weaker consumer electronics, PC and smartphone markets have weighed on investor sentiment. However, the firm’s channel checks found no evidence that supply constraints in the data center market are easing.

The analyst also said memory shortages could become even more severe in 2027 and 2028, adding that Morgan Stanley is buying the sector on weakness.

The positive analyst commentary comes as investors remain optimistic about the next phase of the memory cycle. A stronger broader market is also boosting higher-beta technology stocks, helping SanDisk outperform the wider market before the opening bell.

AI Memory Pricing Drives Micron SentimentHis reasoning is simple—if AI-driven price increases begin to weigh on PC and smartphone makers, or encourage new competitors to enter the market, today’s supercycle could prove shorter than investors expect.

He flagged expectations for overall memory demand to rise more than 50% to 60% next year, while AI-specific demand could climb 60% to 100%.

Sandisk Earnings And Analyst OutlookSandisk is scheduled to report quarterly results on Aug. 5.

Wall Street expects earnings of $33.38 per share, compared with 29 cents per share a year earlier. Revenue is projected to reach $8.24 billion, up from $1.90 billion in the prior-year period.

The stock trades at about 47.5 times earnings, reflecting a premium valuation.

According to analyst consensus, Sandisk carries a Buy rating with an average price forecast of $1,842.80. Recent analyst actions include:

Bank of America Securities: Buy; raised price forecast to $2,500 on July 1. Bernstein: Outperform; raised price forecast to $3,000 on June 30. Citigroup: Buy; raised price forecast to $2,500 on June 25. ETFs With Significant Sandisk ExposureSandisk is a major holding in several exchange-traded funds, including:

Large inflows or outflows in these funds can result in additional buying or selling of Sandisk shares.

Price ActionSNDK Stock Price Activity: SanDisk shares were up 10.14% at $1,532.05 at the time of publication on Tuesday, according to Benzinga Pro data.

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Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) has signed a global exclusive memorandum of understanding (MOU) with French rail manufacturer Alstom to test and develop graphene products for the rail industry, with an initial focus on heating, ventilation and air conditioning (HVAC) systems.

Under the agreement, GMG and Alstom will collaborate on evaluating, developing and commercializing graphene-based products for rail HVAC applications. The MOU is global and exclusive, according to the company.

Alstom is focused exclusively on the rail industry, producing products and services including high-speed and regional trains, metros, trams, signalling systems and rail infrastructure. The company employs about 87,800 people across 61 countries and reported revenue of €19.2 billion for the fiscal year ended March 31, 2026.

GMG CEO Craig Nicol wrote that the agreement provides an opportunity to introduce the company's graphene technology into the rail sector.

"Rail systems demand the highest standards of performance, durability and efficiency — and we believe graphene is uniquely positioned to deliver meaningful improvements across a range of applications,” Nicol said. “We look forward to working closely with the Alstom team to develop and commercialise graphene products that will help shape the future of rail."

GMG non-executive chairman and director Jack Perkowski described the agreement as a significant milestone for the company and said it could create an additional source of revenue.

"The fact that a company of Alstom's scale and technical sophistication has chosen to partner exclusively with GMG to evaluate develop and commercialize graphene-based products for the rail industry is a powerful validation of our technology and our team's capabilities,” Perkowski said. “This arrangement has the potential to open a new revenue stream for GMG and reinforces our strategy of targeting large, established industries where graphene's unique properties can deliver measurable, real-world impact."

A Tesla robotaxi drives on the street along South Congress Avenue in Austin, Texas, U.S., June 22, 2025. REUTERS/Joel Angel Juarez/File Photo Purchase Licensing Rights, opens new tab

CompaniesJuly 21 (Reuters) - Tesla (TSLA.O), opens new tab on Tuesday expanded its robotaxi service to Orlando and Tampa, as the electric-vehicle ​maker races to prove that it can ‌scale its autonomous ride-hailing business beyond its initial launch markets.

The move comes a day before Tesla reports second-quarter ​earnings, with Wall Street closely watching the ​progress on robotaxis, which underpin much of ⁠the company's valuation as CEO Elon Musk shifts ​focus toward artificial intelligence, autonomous driving and humanoid ​robots.

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Tesla launched its robotaxi service in Austin in June last year and expanded to Dallas and Houston earlier this ​year and Miami this month. The company ​has also been conducting supervised testing in California's San Francisco ‌Bay ⁠Area.

Investors have questioned the pace of the rollout after Tesla missed several expansion targets. In response, Musk has said the company was deliberately taking ​a cautious ​approach, and ⁠that rigorous safety testing was the main constraint to faster deployment of ​the service.

Unlike rivals such as Alphabet-owned (GOOGL.O), opens new tab Waymo, ​which ⁠relies on lidar sensors, Tesla's robotaxi system uses cameras and AI-based software to navigate. Tesla plans ⁠to ​eventually deploy its purpose-built Cybercab ​vehicle, which does not have pedals or a steering wheel.

Reporting by ​Akash Sriram in Bengaluru; Editing by Shinjini Ganguli

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Google logo is displayed at Google's headquarters in New York City, U.S., July 1, 2026. REUTERS/Aleksandra Michalska/File Photo Purchase Licensing Rights, opens new tab

LISBON, July 21 (Reuters) - Alphabet's Google (GOOGL.O), opens new tab has successfully connected a new transatlantic subsea cable to Sines in Portugal, it said on Tuesday, adding another U.S.-Europe ​data route as demand for cloud computing and artificial intelligence services ‌surges.

Google's Nuvem, named after the Portuguese word for "cloud", links Myrtle Beach, South Carolina, with Sines, south of Lisbon, via Bermuda and the Azores.

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The Nuvem cable system, which spans about ​7,000 km (4,350 miles), comprises 16 fibre pairs with a total design capacity ​of around 384 terabits per second.

Giorgia Abeltino, head of government ⁠affairs and public policy for Google Cloud EMEA, said Nuvem was part of ​a wider vision for Portugal and Europe to invest in the strategic infrastructure ​underpinning the digital economy.

Subsea cables form the backbone of the world wide web, carrying more than 95% of global data traffic.

Two high-capacity subsea cables already link Portugal with other continents — ​the Google-owned Equiano cable that runs to South Africa via other African ​countries, and the EllaLink that runs to Brazil from Sines.

State Reform and Innovation Minister Goncalo ‌Matias said ⁠Nuvem was part of a broader strategy to make Portugal a hub for data centres, AI and innovation, while bolstering Europe's digital resilience and sovereignty.

"Portugal is becoming what geography always invited us to be — the Atlantic gateway of ​Europe, the meeting point ​of three continents: ⁠Europe, Africa, and the Americas," he said at the cable landing ceremony.

Portugal's Atlantic coastline positions it as a prime ​hub for intercontinental subsea cables, helping to turn the country ​into a ⁠magnet for AI-driven data centres.

Lisbon also seeks to leverage abundant low-cost renewable energy from hydro, solar and wind sources, with more than 2.6 gigawatts of capacity under ⁠development.

The ​pipeline is led by the 1.2-GW Start Campus ​project in Sines, which is set to benefit from Microsoft's MSFT.O AI infrastructure investments, and is expected to ​grow substantially in the years ahead.

Reporting by Sergio Goncalves; Editing by Jan Harvey

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A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, March 25, 2024. REUTERS/Gonzalo Fuentes/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesAzure customers will be able to build software using Mistral data centers in FranceMistral adds Medium 3.5 and OCR 4 models to Microsoft FoundryMicrosoft president says deal does not include new financial stake in MistralSAN FRANCISCO, July 21 (Reuters) - Microsoft (MSFT.O), opens new tab ​has agreed to spend billions of dollars on Mistral's computing infrastructure in Europe under a deal that ‌will also expand distribution of the French AI startup's technology through the U.S. cloud and software giant, the companies said on Tuesday.

As part of the agreement, Microsoft Azure customers will be able to develop software using Mistral's data centers in France, giving Microsoft more capacity in Europe and ​regulated industries an alternative to U.S.-controlled infrastructure.

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Mistral, meanwhile, has added its AI models called Medium 3.5 and OCR ​4 to Microsoft's app builder known as Foundry. Microsoft Copilot Studio has brought on Medium 3.5 ⁠as well.

Finally, businesses with independent data centers that access Microsoft services via Azure Local will have the option to run ​Mistral's "open" models, which give customers license to develop AI as their own.

The deal underscores growing interest in Europe and elsewhere to ​reduce dependence on U.S. technology so other countries may have greater say in their future society and economy. It may also help Microsoft meet rising demand for open models.

Though the push for "sovereign" AI is now years old, a U.S. decision last month to pause foreign access to two advanced ​models from San Francisco-based Anthropic has made technology independence a more urgent issue in Europe.

In a joint interview with Reuters, Microsoft ​President Brad Smith and Mistral CEO Arthur Mensch said the partnership aimed to deliver such sovereignty while allowing access to U.S. software and ‌security features.

"By ⁠putting Mistral's models on Azure Local and on Mistral's computational capacity, we can combine American and European technology and do it in a way that provides continuous and assured access," Smith said.

STAYING IN AI RACEDecoupling Europe from U.S. technology would be a tall order. Nvidia (NVDA.O), opens new tab chips powering the global AI boom, also key to Mistral's data-center buildout, are American-designed. Nvidia, like Microsoft, is a ​Mistral investor.

Smith said the deal ​announced on Tuesday did not ⁠include any new financial stake in the startup, and Mensch declined to comment on a Bloomberg News report, opens new tab that Mistral was in talks to raise around €3 billion ($3.4 billion) at a €20 billion valuation.

The ​Paris-based lab has come to represent one of Europe's top hopes in AI. So far ​it has targeted ⁠manufacturing, financial services and defense sales and has won business from France's armed forces. Its valuation remains dwarfed by U.S. peers such as Anthropic.

Still, Mensch said the deal showed how Microsoft and Mistral were "working together on closing the gap on the infrastructure side in ⁠Europe."

Mistral is ​targeting 1 gigawatt of compute capacity by 2030, and the Microsoft agreement - ​specifics of which Mensch declined to provide - validates its strategy.

The companies are working on a joint go-to-market plan, they added.

"This is going to help both of ​our companies grow our businesses, unquestionably," Smith said.

Reporting by Jeffrey Dastin in San Francisco; Editing by Sayantani Ghosh and Jamie Freed

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Jeffrey Dastin is a correspondent for Reuters based in San Francisco, where he reports on the technology industry and artificial intelligence. He joined Reuters in 2014, originally writing about airlines and travel from the New York bureau. Dastin graduated from Yale University with a degree in history. He was part of a team that examined lobbying by Amazon.com around the world, for which he won a SOPA Award in 2022.

Posted by Defense World Staff on Jul 21st, 2026

Andra AP fonden reduced its position in shares of AT&T Inc. (NYSE:T – Free Report) by 40.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 728,787 shares of the technology company’s stock after selling 491,513 shares during the quarter. Andra AP fonden’s holdings in AT&T were worth $21,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of AT&T during the fourth quarter worth approximately $2,181,977,000. Amundi boosted its stake in shares of AT&T by 67.5% during the 3rd quarter. Amundi now owns 42,295,492 shares of the technology company’s stock valued at $1,094,184,000 after buying an additional 17,040,328 shares during the period. Alyeska Investment Group L.P. grew its holdings in shares of AT&T by 620.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 11,891,778 shares of the technology company’s stock valued at $295,392,000 after acquiring an additional 10,241,949 shares in the last quarter. State Street Corp grew its holdings in shares of AT&T by 2.6% during the 4th quarter. State Street Corp now owns 332,089,723 shares of the technology company’s stock valued at $8,249,109,000 after acquiring an additional 8,314,678 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of AT&T by 49.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 25,155,597 shares of the technology company’s stock worth $624,865,000 after acquiring an additional 8,297,201 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets A number of equities research analysts have recently weighed in on the company. Citigroup raised their price target on AT&T from $29.00 to $31.50 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Barclays dropped their price objective on AT&T from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. KeyCorp raised their price objective on shares of AT&T from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, March 25th. Weiss Ratings downgraded shares of AT&T from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Finally, Wells Fargo & Company initiated coverage on shares of AT&T in a research note on Wednesday, July 8th. They set an “underweight” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.14.

Get Our Latest Stock Analysis on T

Trending Headlines about AT&T Here are the key news stories impacting AT&T this week:

Positive Sentiment: AT&T is set to raise some home internet plan prices by $5, which could lift average revenue per user and improve near-term margins. These AT&T home internet plans are getting a $5 price hike Positive Sentiment: EDO said AT&T had one of the most engaging ads during FIFA World Cup 2026™, suggesting its marketing is resonating with viewers and potentially supporting brand strength. Kalshi, Oura Ring, and AT&T Score the Most Engaging Ads of the FIFA World Cup 2026™, ranked by TV outcomes data on edo.com/worldcup Neutral Sentiment: AT&T is working with major peers on a network-level tool to fight AI-driven identity fraud and is also testing low-latency 5G mobility technology, highlighting ongoing innovation but no immediate financial impact. AT&T (T) Takes On Identity Fraud While Testing Real Time 5G Mobility Neutral Sentiment: AT&T disclosed $2.65 million in Q2 lobbying spending, focused on broadband, spectrum, cybersecurity, and telecom policy issues that are important to the business but unlikely to move the stock on their own. Lobbying Update: $2,650,000 of AT&T SERVICES INC AND ITS AFFILIATES lobbying was just disclosed Neutral Sentiment: RBC Capital lowered its price target on AT&T to $27 from $31 while keeping an outperform rating, which is mildly positive overall but signals a slightly less optimistic valuation view. AT&T had its price target lowered by Royal Bank Of Canada from $31.00 to $27.00. Negative Sentiment: News that AT&T may raise home internet prices for lower-income customers could trigger churn concerns and political backlash, partially offsetting the benefit of higher pricing. AT&T is raising prices again, and this time low-income customers won’t be spared AT&T Stock Performance Shares of NYSE T opened at $22.00 on Tuesday. The business’s 50-day simple moving average is $22.92 and its 200-day simple moving average is $25.28. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.87 and a current ratio of 0.92. AT&T Inc. has a 52 week low of $19.89 and a 52 week high of $29.79. The firm has a market cap of $152.83 billion, a price-to-earnings ratio of 7.38, a P/E/G ratio of 0.86 and a beta of 0.24.

AT&T (NYSE:T – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. AT&T had a return on equity of 12.49% and a net margin of 16.94%.The firm had revenue of $31.51 billion during the quarter, compared to analysts’ expectations of $31.29 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. As a group, equities research analysts expect that AT&T Inc. will post 2.32 earnings per share for the current fiscal year.

AT&T Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.0%. AT&T’s payout ratio is presently 37.25%.

AT&T Profile (Free Report)

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.

Read More Five stocks we like better than AT&T The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence Is Domino’s Stock Serving Up a Buying Opportunity? A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free Why Gold Miners Could Be the Market’s Biggest Comeback Story

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State-Funded Program with the Colorado Water Conservation Board Targets Snowpack and Rain Year-Round in the Yampa River Basin's Flat Tops Range

NAPLES, FL / ACCESS Newswire / July 21, 2026 / Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN), a leading provider of ionization rain and snowfall enhancement technology, today announced that the Colorado Water Conservation Board (CWCB), the Colorado River District, and the Upper Yampa Water Conservancy District have publicly supported RET's pending application for a paid weather enhancement pilot project, with installation targeted by October 2026. The project is designed to provide more year-round snow and water to Northwest Colorado's Yampa River Basin. The program is expected to be funded through a grant from CWCB, with the Upper Yampa Water Conservancy District serving as the fiscal agent.

The pilot is being coordinated with the Colorado River District and the CWCB and is designed to increase snowfall and rain in the Flat Tops Mountain range of the Rockies. This area feeds Stagecoach and Yamcolo Reservoirs, two of the Upper Yampa Water Conservancy District's primary water supply facilities.

"This is exactly the kind of program we set out to build: a complementary year-round solution that integrates seamlessly into existing water management strategies," said Randy Seidl, CEO of Rain Enhancement Technologies. "Western US water managers are under real pressure to have more water, and our ionization technology gives them a chemical-free way to do that."

"We think this is an excellent opportunity to bring a new tool to bear on rain and snow that feeds our storage," said Andy Rossi, General Manager of the Upper Yampa Water Conservancy District. "Targeting the Flat Tops area gets right at the water supply that fills Stagecoach and Yamcolo, and we're glad to help bring this pilot to Northwest Colorado."

RET's WETA platform uses a ground-based ionization process rather than traditional chemical-based cloud seeding, operates autonomously without aircraft or chemical dispersal, and functions year-round rather than being limited to sub-freezing conditions. In a comparable, independently monitored installation in Utah's La Sal Mountains this past winter, RET measured a 20% snow water equivalent (SWE) increase, equivalent to roughly 8,750 acre-feet. This was over the winter operating season only, with warm rain enhancement operations now underway to provide further increases. Applied to the Flat Tops coverage area, expected to span approximately 120 square miles, RET estimates the pilot could generate over 10,000 additional acre-feet of water in an average precipitation year.

RET offers flexible lease-to-own and purchase options for the WETA platform that is available to Upper Yampa upon completion of the pilot program.

About Rain Enhancement Technologies, Inc.

Rain Enhancement Technologies was founded to provide the world with reliable access to water, one of life's most important resources. To achieve this mission, RET develops, manufactures, and commercializes ionization precipitation generation technology that enhances rainfall and snowpack to address water scarcity challenges. The Company is also developing applications for fog mitigation to expand its weather modification capabilities. RET's chemical-free, solar-powered technology seeks to transform water resource management for businesses, society, and the planet. To learn more, go to www.investor.rainenhancement.com.

Forward-Looking Statements

The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "project," "forecast," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, (1) statements regarding the execution of an agreement for the funding and award of the pilot, (2) statements regarding expected installation of the Company's technology; (3) references with respect to the anticipated benefits of the Company's WETA platform and technology; (4) references to the market opportunity for rain enhancement technologies and products; (5) the projected technological developments of RET; and (6) current and future potential commercial and customer relationships. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of RET's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of RET. These forward-looking statements are subject to a number of risks and uncertainties, as set forth in the section entitled "Risk Factors" in the Company's annual report on Form 10-K for the year ended December 31, 2024, filed with the SEC on April 16, 2025, as amended from time to time, and on Form 10-Q for the calendar quarter ended March 31, 2026, filed with the SEC on May 15, 2026, as amended from time to time. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. The risks and uncertainties above are not exhaustive, and there may be additional risks that Rain Enhancement Technologies, Inc. ("RETI") and RET do not presently know or that RETI and RET currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect RETI and RET's expectations, plans or forecasts of future events and views as of the date of this press release. RETI and RET anticipate that subsequent events and developments will cause RETI and RET's assessments to change. However, while RETI and RET Holdco may elect to update these forward-looking statements at some point in the future, RETI and RET specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing RETI and RET's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Media Contacts
Neal Stein
Technology PR Solutions
321-473-7407
[email protected]

Linda Maynard
Rain Enhancement Technologies
(617) 869-4832
[email protected]

SOURCE: Rain Enhancement Technologies

DETROIT — General Motors will launch new gas-powered Cadillac vehicles beginning next spring as the automaker continues to shift gears away from all-electric vehicles.

GM CEO Mary Barra said Tuesday that the next-generation Cadillacs will include new versions of the company's CT5 sedan, outdated XT5 midsize SUV and discontinued three-row XT6 SUV.

"Starting next spring and continuing into 2028, we will begin launching the next generation of Cadillac ICE [internal combustion engine] vehicles," Barra said during the company's second quarter earnings call. She said the vehicles will be in addition to Cadillac's current all-electric crossovers and Escalade SUV.

The new product announcements add to GM's pullback in EVs. The automaker had planned for Cadillac to exclusively sell electric vehicles by the end of this decade. The company also has walked back EV plans for other brands and increased gas-powered engine production, including V-8 offerings.

GM has recorded $10.9 billion in EV-related charges since the second half of last year after slower-than-expected electric vehicle adoption as well as U.S. regulatory changes easing emissions standards and eliminating support for EVs.

Barra reiterated that GM's plans include "onshoring significant manufacturing" for the Detroit automaker beginning next year, in part by expanding production of its full-size SUVs to a Michigan plant that was previously slated to produce EVs.

The full-size SUVs — Escalade, Chevy Tahoe and Suburban, and GMC Yukon and Yukon XL — are currently exclusively produced at the company's Arlington Assembly plant in Texas.

Maple’s syrupUSDC and syrupUSDT bring tokenized lending positions closer to everyday DeFi trading.

Stablecoins are useful. But they can also sit still. Hold USDC or USDT in a wallet, and you hold a dollar-pegged asset. That is simple. But in institutional credit markets, stablecoins can also become productive capital. That is the idea behind Maple.

Maple is an on-chain lending platform for institutions. Trading firms can borrow stablecoins through Maple and post crypto assets, such as BTC or ETH, as overcollateralized security. Lenders provide stablecoins and receive tokens that represent their position.

Now, Maple’s syrupUSDC and syrupUSDT are available through 1inch.

That gives users and builders another way to access assets across DeFi, with 1inch providing routing and swap infrastructure.

What Maple doesMaple connects lenders and institutional borrowers on-chain.

In simple terms, borrowers receive stablecoin loans. They post crypto collateral. They pay interest on those loans. Lenders provide USDC or USDT and receive a token that represents their deposit.

For USDC, the flow looks like this:

USDC → deposit into Maple → receive syrupUSDC

For USDT, it works the same way:

USDT → deposit into Maple → receive syrupUSDT

But these tokens are not the same as plain stablecoins. USDC is a dollar-pegged stablecoin, not creating any earning opportunity. By contrast, syrupUSDC represents USDC that has been deployed through Maple’s lending system. Its value can increase as, while remaining subject to the risks of the underlying lending strategy.

That is where the RWA angle comes in. These are on-chain tokens connected to institutional credit activity, not just crypto-native trading pairs.

Tokenized credit as part of DeFi infrastructureRWAs are not only tokenized stocks or funds. Tokenized credit is also becoming part of the on-chain economy.

In traditional finance, credit positions are typically difficult to transfer and integrate with other financial infrastructure. Tokenization changes that. It allows credit positions to be represented, tracked and moved as on-chain assets.

For DeFi, that matters because it expands the range of assets that can move through decentralized infrastructure.

Stablecoins become more than settlement assets. Credit positions can become tokens. And those tokens can move through the same routing, swapping and wallet infrastructure that people already use across DeFi.

This does not remove risk. Lending markets still depend on borrower quality, collateral management, liquidity, protocol design and market conditions.

But it does make tokenized credit more portable and interoperable, allowing it to participate in the broader DeFi ecosystem alongside other on-chain assets.

What 1inch supports1inch now supports Maple tokens:

syrupUSDC - on Ethereum, Arbitrum and BasesyrupUSDT - on Ethereum and BNB ChainThese tokens are available across the 1inch ecosystem.

On 1inch.com, users can access them through Swap, Trade or Terminal. In Portfolio, users can track prices, balances and bundles.

For builders and institutional teams, Maple token swaps are supported through APIs available on 1inch Business.

1inch’s role1inch does not run Maple’s lending strategy. Minting, redeeming and lending remain on Maple’s side. Maple manages the credit product and the underlying lending mechanics.

1inch’s role is different: it helps users move into and out of these tokens through swap infrastructure. That distinction matters.

If you want to lend directly through Maple, you use Maple. If you want to trade syrupUSDC or syrupUSDT through available liquidity, 1inch can help route the swap.

This makes access simpler without turning 1inch into the issuer or manager of the asset.

Why routing matters for RWA tokensRWA tokens need more than issuance. They need liquidity. A token can be well designed, but if users cannot enter or exit efficiently, the market remains hard to use. Liquidity may be spread across venues, chains and pools. Prices may differ. A direct route may not always be the best route.

That is where 1inch intent-based swaps are useful.Instead of manually checking routes, users can express the trade they want. 

For Maple tokens, this helps make trading more flexible. A user can move between stablecoins and syrup tokens through 1inch, while the routing layer searches for efficient execution across available liquidity.

Why this matters for stablecoin usersMany users understand USDC and USDT. They are simple, liquid and widely used across DeFi.

Maple tokens introduce a different question: what if a stablecoin position could also represent access to institutional lending activity?

That is the difference between holding a plain dollar stablecoin and holding a tokenized credit position linked to that stablecoin.

USDC is idle unless you do something with it. syrupUSDC is designed to represent USDC deployed through Maple’s lending system. USDT works the same way with syrupUSDT.

This makes Maple tokens part of a broader shift in DeFi: stablecoins are increasingly becoming the base layer for more advanced on-chain financial products.

Explore Maple tokens on 1inch.

Disclaimer: This content is for general information purposes only and does not constitute financial, investment, tax or legal advice. Not available in the US and other restricted jurisdictions.

Adobe ADBE shares fell sharply in trading on Tuesday after Morgan Stanley downgraded the creative software maker, warning that multiple strategic transitions are unfolding simultaneously and could complicate its ability to return to stronger growth.

The investment bank lowered its rating on Adobe from Equal-weight to Underweight and slashed its price target by more than one-third, from $365 to $240.

The stock fell about 2% after the opening bell, extending losses that have already pushed Adobe shares down nearly 31% this year.

The downgrade comes as investors continue to assess how artificial intelligence is reshaping the software industry and whether established players can defend their businesses against a growing number of AI-native competitors.

Morgan Stanley analyst Adam Wood said Adobe is navigating several major changes at the same time, increasing the execution risk for the company.

According to the note, Adobe is dealing with three concurrent transitions: an expansion of its freemium strategy, leadership changes involving both its chief executive officer and chief financial officer, and increased investment in artificial intelligence.

The company has been witnessing a leadership vacuum created by the concurrent search for a new CEO following Shantanu Narayen’s planned departure and the June exit of CFO Dan Durn, and a deliberate shift away from margin harvesting toward heavier AI reinvestment.

"While each transition may be manageable in isolation, their convergence raises the bar for execution at a time when other areas of software offer cleaner evidence of growth durability, operating leverage, and/or near-term AI monetization," Wood wrote.

Morgan Stanley said Adobe's decision to offer free access to more users has already affected recurring revenue growth.

The brokerage estimated the strategy reduced annual recurring revenue growth by roughly $500 million during the company's second quarter.

The analysts added that the company's shift toward freemium offerings, combined with management changes and higher AI spending, "elongate the path to durable annual recurring revenue (ARR) reacceleration."

While Adobe's core business serving creative professionals continues to enjoy a strong competitive position, Morgan Stanley believes some parts of its broader workflow are becoming increasingly vulnerable to AI-native alternatives for both consumer and enterprise users.

The bank acknowledged that Adobe's lower valuation already reflects many of these concerns, but argued that the combination of simultaneous changes creates uncertainty over both the timing and strength of any recovery.

Adobe was not the only software company to receive a more cautious assessment.

Morgan Stanley also initiated coverage of Workday with an Underweight rating and a price target of $145, sending the human resources software company's shares down more than 2.75% in trading.

While the bank described Workday's competitive moat as one of the strongest in enterprise software, it said the company's artificial intelligence initiatives are unlikely to generate meaningful growth acceleration in the near term.

The brokerage initiated coverage of Salesforce and Intuit with Equal-weight ratings, reflecting a more balanced outlook.

For Salesforce, Wood described the company as a "tale of two cities."

He noted that strong momentum in products such as Agentforce and Slack has been offset by weakness in businesses including Commerce and Tableau, resulting in slower overall organic growth.

Morgan Stanley assigned Salesforce a price target of $185. Shares fell more than 1.9%.

On Intuit, which received a $335 price target, the bank said investor concerns about the company's competitive moat have significantly weighed on its valuation.

"The concern is that LLMs will be able to file taxes and provide entry level accounting software at a much lower price," the analysts wrote.

However, Morgan Stanley argued those fears are "overdone," ranking Intuit 12th within its software coverage universe for moat strength, while noting the company is less prepared than some peers for the next stage of AI-driven software development.

The ratings changes formed part of Morgan Stanley's broader software sector report introducing what it called a "Moat & Journey" framework to assess software companies based on the durability of their competitive advantages and their readiness for the AI era.

The bank identified Microsoft, Palo Alto Networks, CrowdStrike, Cloudflare, Datadog, ServiceNow, Snowflake and Shopify as its highest-conviction Overweight-rated software stocks.

Morgan Stanley also downgraded Rapid7 and PagerDuty to Underweight and reduced ratings on Elastic, JFrog, NICE, Wix, BlackLine and Vertex to Equal-weight, citing either valuation concerns or a longer path toward AI-driven growth.

STOCKHOLM, SE / ACCESS Newswire / July 21, 2026 / Keo Capital (STO:MAHA-A) - KEO Capital AB (publ) ("KEO Capital" or the "Company") (Nasdaq Stockholm:KEOC) is pleased to announce the renewal of its longstanding strategic partnership with American Express Limited ("AMEX"), reinforcing its commitment to delivering innovative payment solutions in Mexico

The agreement includes the U.S. Dollar and the Mexican Peso as authorized currencies for all commercial Purchasing Cards issued under the program in Mexico, enabling greater flexibility for transactions and international commerce.

"This renewed partnership with American Express reinforces the innovation and the strength of our platform and the trust we have built over the years in Mexico. We are excited to continue growing alongside one of the world's leading financial services brands, and we look forward to continuing to explore new opportunities together," commented Roberto Marchiori, CEO of KEO Capital.

KEO Capital AB remains focused on leveraging this partnership to drive innovation in B2B payments, expand its product offerings, and deliver value to its cardmembers and commercial partners.

"We are proud to strengthen our longstanding partnership with KEO Capital in Mexico. Extending our collaboration reflects our shared commitment to innovation, advancing B2B payment solutions, and creating new opportunities for businesses across the market", said Mario Luna, Bank Partnerships Vice President of American Express for Mexico, Central America and the Caribbean.

For more information, please contact:
Roberto Marchiori, CEO & CFO | Jakob Sintring, Head of IR
Phone: +46 8 611 05 11, E-mail: [email protected]

Jorge Guevara, Vice President, Corporate Affairs and Communications Latin America and the Caribbean, American Express, E-mail: [email protected]

About KEO Capital
KEO Capital AB (publ) is a listed technology-driven financial solutions provider focused on improving liquidity, security, transparency, and efficiency in B2B supply chain financing and corporate travel and expense management. KEO Capital operates a unified digital ecosystem that enables buyers and suppliers to interact through complementary solutions designed to address the full spectrum of corporate payables. In addition, KEO Capital holds a 24 percent indirect equity stake in the Venezuelan oil company PetroUrdaneta and has entered into a binding agreement to increase its indirect interest to 40 percent. The shares are listed on Nasdaq Stockholm (KEOC). For more information, please visit the Company's website at www.keocapital.com.

About American Express
American Express (NYSE: AXP) is a global payments and premium lifestyle brand powered by technology. Our colleagues around the world back our customers with differentiated products, services, and experiences that enrich lives and build business success.

Founded in 1850 and headquartered in New York, American Express' brand is built on trust, security, service, and a rich history of delivering innovation and Membership value for our customers. We seek to provide the world's best customer experience every day to a broad range of consumers, small and medium-sized businesses, and large corporations, and we build and manage relationships with millions of merchants across our global network.

For more information about American Express, visit americanexpress.com, americanexpress.com/en-us/newsroom/, and ir.americanexpress.com.

Attachments
KEO Capital Renews American Express Licensing Agreement in Mexico

SOURCE: Keo Capital

UnitedHealth Group (UNH +1.98%) has been one of the hottest healthcare stocks over the past year, rising nearly 50%. The leading health insurer has been posting improved quarterly results, its medical expenses have been declining, and the outlook for the stock has become much stronger than it has been in the past.

Given the momentum and the stronger quarter results, could the healthcare stock be headed for $500 -- a level it hasn't been at since early last year?

Image source: Getty Images.

UnitedHealth posts solid numbers in Q2 Last week, UnitedHealth released its second-quarter results for the period ending June 30, which were impressive. Revenue of $112 billion came in above analyst projections of $110.9 billion, and its adjusted earnings per share (EPS) of $6.38 was also well above Wall Street estimates of $4.90.

The efforts it has made to restructure its business and exit unprofitable contracts have yielded better results for the health insurer. The company also says it's been using artificial intelligence to improve accuracy and speed up some of its processes. Its medical benefits ratio for the quarter was 86.7%, which was a fair bit lower than analyst estimates of 88.5%. The ratio shows how high its medical expenses are relative to the premiums it collects, and as that percentage declines, it's a good sign that the business is becoming more efficient.

In light of the progress and strong results, the company also upgraded its full-year guidance, now projecting adjusted EPS between $19.50 to $20, a sizable increase from the $18.25 it previously forecast.

Today's Change

(

1.98

%) $

8.33

Current Price

$

429.88

Can UnitedHealth stock get back to $500? For UnitedHealth stock to hit $500, it would need to rise another 19% from Monday's closing price of $421.55. That isn't unrealistic given how well the business has been doing of late, especially with it also raising its guidance. The company's turnaround efforts have been going well, and with UnitedHealth in a much stronger place, the stock looks poised for even greater gains.

Currently, it's trading at 23 times its estimated future earnings, which are based on analyst estimates. But with an improved outlook, those estimates could rise, and UnitedHealth's valuation may look even more attractive in the near future. For long-term investors, it looks safe to buy this leading healthcare stock again, as it could not only hit $500 but, in the long run, soar even higher.

Posted by Defense World Staff on Jul 21st, 2026

Andra AP fonden raised its position in Parker-Hannifin Corporation (NYSE:PH – Free Report) by 90.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,687 shares of the industrial products company’s stock after acquiring an additional 13,611 shares during the quarter. Andra AP fonden’s holdings in Parker-Hannifin were worth $25,682,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HFM Investment Advisors LLC lifted its position in shares of Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 30 shares during the last quarter. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin during the third quarter worth $25,000. Lloyd Advisory Services LLC. purchased a new position in Parker-Hannifin in the fourth quarter valued at $31,000. NFSG Corp raised its stake in Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after buying an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in Parker-Hannifin by 80.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes Several research analysts have recently issued reports on PH shares. Wells Fargo & Company lowered their price objective on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Evercore set a $1,064.00 target price on Parker-Hannifin in a research report on Monday, May 11th. Stifel Nicolaus boosted their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,027.38.

Check Out Our Latest Stock Analysis on PH

Parker-Hannifin Stock Performance Shares of PH opened at $950.03 on Tuesday. The company’s 50 day simple moving average is $914.33 and its 200-day simple moving average is $933.78. The firm has a market cap of $119.79 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.54 and a beta of 1.11. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

Parker-Hannifin (NYSE:PH – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business posted $6.94 earnings per share. Parker-Hannifin’s quarterly revenue was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, equities analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Increases Dividend The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a $2.00 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date was Friday, May 8th. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.51%.

Parker-Hannifin Profile (Free Report)

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

Recommended Stories Five stocks we like better than Parker-Hannifin The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence Is Domino’s Stock Serving Up a Buying Opportunity? A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free Why Gold Miners Could Be the Market’s Biggest Comeback Story Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH – Free Report).

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