Track market-moving stories before they get noisy

Hot stock Robinhood Markets (HOOD +2.79%) hasn't been so hot for most of 2026. It's starting to recover, though, and it's roughly flat year to date.

The trading platform reports second-quarter earnings on July 29. Is now the time to buy?

What to expect in the second-quarter report Management doesn't provide a full quarterly outlook, but it does provide guidance around operating expenses, and it has planned expenses to "accelerate product velocity, drive net deposit growth, and grow revenues."

Robinhood has expanded into being much more than a stock trading platform. It also offers cryptocurrency and options trading, as well as several traditional banking products, such as a credit card. It also offers a premium membership program called Robinhood Gold, and it recently launched the prediction markets segment and the Robinhood Social social media app.

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It generates higher revenue when users trade on their accounts, and launching new products as well as attracting higher deposits should lead to increased revenue. What's been happening is that cryptocurrency, and specifically Bitcoin, is falling, and lower trading is negatively affecting Robinhood's growth.

Last year, cryptocurrency trading revenue increased 98% year over year in the second quarter, implying that this year, there will be either a major slowdown or a decline. In the 2026 first quarter, it declined 47%, which doesn't bode well for the second quarter. This might have already been factored into the stock, but now that the stock has recovered, it could drop again on bad news.

On the positive side, it has been setting up a new product to benefit from Trump accounts, which should be a positive impact on the business, and it was one of the platforms chosen for the Space Exploration Technologies (SpaceX) initial public offering, which could also add more revenue.

How will Robinhood stock react? Robinhood may have a long growth runway as it disrupts traditional finance, but its growth minus cryptocurrency is somewhat underwhelming. Revenue increased 15% year over year in the first quarter. It added 1.7 million funded customers in the first quarter, a 6% year-over-year increase, for a total of 27.4 million. Robinhood Gold members increased by 1.2 million, or a 36% increase, to 4.3 million.

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Since the stock is heading back up, it's becoming more expensive again. It trades at 37 times forward one-year earnings, which is rich, especially as revenue growth slows down.

Since there are reasons to suspect the pressure related to cryptocurrency has yet to abate, I wouldn't buy Robinhood stock before the report with the expectation that it will jump. I would only recommend buying it if you see the long-term vision and can hold through volatility.

With a forward dividend yield of 19.2%, UWM Holdings (UWMC +1.25%) may seem like a golden opportunity for yield-hungry investors. But while this may represent an extremely high yield, especially for a high-profile financial stock, I wouldn't count on buying it, collecting the double-digit yield, and generating above-average total returns.

UWM's newfound status as a high-yield dividend stock is largely due to its share price collapse. Put simply, the market thinks that the mortgage wholesaler's high payout won't last. Even though the stock's valuation may account for a possible dividend suspension, such an event, along with other potential negative developments, could lead to further significant losses.

Image source: Getty Images.

UWM missed out on a merger and has questionable payout sustainability UWM, America's largest home lender, has struggled since the Federal Reserve began raising interest rates in 2022. Although revenue has bounced back from a steep drop, the company remains far from its pandemic-era high-water mark for profitability.

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In 2021, UWM reported revenue of around $3 billion. Last year, UWM's total revenue came in slightly above $3 billion. However, diluted earnings per share (EPS) came in at $0.66 in 2021, but in 2025, it was just $0.12.

Reaching past profitability levels was clearly an objective with UWM Holdings' plans to acquire mortgage REIT and loan servicing company Two Harbors Investment Corp. (TWO +0.21%), which it announced back in December. At that time, UWM's management touted that its $1.3 billion all-stock bid would be highly accretive to shareholders, paving the way for "continued dividends."

Unfortunately, last May, CrossCountry Mortgage, seeking to take advantage of UWM's falling stock price, emerged with a $10.80-per-share all-cash offer for Two Harbors. UWM's would-be target accepted the bid, terminating its prior plans. Although UWM stepped up with an alternative all-cash offer, Two Harbors shareholders approved the CrossCountry deal earlier this month.

Tread carefully, as the dividend remains highly uncertain Based on sell-side consensus, EPS could hit $0.38 this year, nearly covering the stock's $0.40 in annual dividends. However, a reduction or full dividend suspension could still be in the cards.

As KBW analysts Bose George and Frankie Labetti argued earlier this month, UWM Holdings could reduce its debt-to-equity ratio from 3.1 to 2.2 by the end of 2027. If improvements in the housing market coincide with UWM conserving cash, it could set the company up for a much-anticipated recovery.

However, while the analysts may believe that a dividend suspension/cut won't lead to further downside, I'd lean toward caution. Shares could continue to pull back on a dividend cut, even as the market already anticipates one.

Also, keep in mind that the housing market continues to recalibrate. Couple that with the prospect of "higher for longer" interest rates persisting under Federal Reserve Chairman Kevin Warsh, and it's even easier to see why caution remains key. Whether you like this stock as a dividend payer or as a turnaround play, you may want to take your time before entering a position.

Shares of Aurora Innovation (AUR 0.25%) jumped 77.6% higher in the first half of 2026, according to data from S&P Global Market Intelligence. The self-driving truck start-up is beginning to show growth momentum as it develops new routes for customers, even though revenue over the last 12 months was still under $10 million.

At $6.10 as of this writing on July 14, 2026, Aurora Innovation is still well below its price when it went public through a special purpose acquisition company (SPAC) in 2021. Here's why the stock was up so much in 2026, and whether you should buy shares as its growth starts to pick up.

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Scaling autonomous trucks Aurora Innovation builds hardware and software for self-driving vehicles, specifically for large semi-trucks. With millions of trucks operating in the United States, the company's goal is to expand nationwide for these highway drivers, who face much simpler routes than city drivers.

It is currently focused on the southwest, with 12 distinct routes between cities in Texas, New Mexico, and Arizona. Still, it is very early days for the business, which generated just $1 million in revenue last quarter. Revenue is projected to grow to $14 million to $16 million in 2026, driven by new contracts, representing 400% growth at the midpoint. Growth momentum -- even from this small base -- is what has investors excited about Aurora stock at the moment.

The trucking industry in the United States is massive. If a company like Aurora Innovation can be a leader in self-driving technology nationwide, there is probably a revenue opportunity in the billions from selling this hardware-and-software bundle alone.

Image source: Getty Images.

Should you buy Aurora Innovation stock? Right now, Aurora's financials do not match up with this investor optimism. Free cash flow was negative $646 million over the last twelve months, while revenue was just $4 million. The company does have over $1 billion in cash on the balance sheet as of the last quarter, but that will only provide it with around two years of cash burn at current rates.

Investors are right to be optimistic about Aurora Innovation's growth potential, but the stock's current valuation is getting ahead of itself. Shares currently have a market cap of $12 billion. Even if revenue reaches $1 billion over the next few years (unlikely), the stock still looks overvalued.

Key Takeaways Alliant Energy plans $13.4B of 2026-2029 investments to support 5%-7% annual earnings growth. Five service agreements cover 3.4 GW of data-center demand as peak electricity use is set to rise 60%. New wind and battery projects reduce fossil-fuel reliance while improving grid reliability and flexibility. Alliant Energy (LNT - Free Report) benefits from strategic renewable energy investments, strengthening grid reliability and supporting rising clean electricity demand from AI-driven data centers. These investments expand its regulated asset base, create long-term earnings opportunities and position the company to meet future customer demand while maintaining affordable service.

The company plans to invest $13.4 billion between 2026 and 2029 to expand renewable generation, battery storage, grid infrastructure and other energy assets, supporting long-term annual earnings growth of 5-7%. LNT secured approval for the 150-megawatt (MW) Bent Tree North Wind Project in Wisconsin, which will further reduce reliance on fossil fuels. On Jan. 13, 2026, LNT placed two battery energy storage systems into service, enhancing grid reliability and improving system flexibility.

Renewable projects are also helping LNT serve rapidly growing demand from data centers. The company has signed five electric service agreements representing 3.4 gigawatts (GW) of contracted demand and secured the required wind, natural gas and energy storage resources to serve this load. It expects peak electricity demand to rise about 60%, supporting future capital investments and earnings growth.

Overall, Alliant Energy's renewable expansion strengthens its long-term growth by supporting rising electricity demand, improving grid reliability and increasing regulated investment opportunities. These initiatives position the company for sustainable earnings growth while delivering cleaner, more reliable and affordable power.

Clean Energy Expansion Drives DecarbonizationThe expansion of clean energy reduces fossil fuel dependence and lowers carbon emissions. Renewable investments support rising electricity demand while advancing long-term decarbonization goals.

Clearway Energy (CWEN - Free Report) expands its clean energy portfolio with the 320-MW Honeycomb battery storage project, strengthening contracted cash flows and supporting rising electricity demand.

NextEra Energy (NEE - Free Report) continues to expand its renewable generation and battery storage portfolio, which includes the 200-MW Century Oaks Energy Storage project, supporting rising electricity demand, grid reliability and long-term regulated earnings. The company expects to add 76.6.5-107.6 GW of new renewables to its generation portfolio during 2026-2032 via clean energy investments.

LNT’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 6.52% and 7.29%, respectively.

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LNT’s Returns on Equity (ROE)Alliant Energy's trailing-12-month ROE is 11.37%, ahead of the industry average of 11.21%.

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LNT’s Stock Price PerformanceIn the past month, the company’s shares have risen 4.2% compared with the industry’s 2.1% growth.

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LNT’s Zacks Rank

Key Takeaways AXON's Connected Devices revenues jumped 33% in Q1, driven by TASER 10 and Axon Body 4 demand.Axon Enterprise saw Platform Solutions revenues surge 95% on counter-drone, virtual reality and fleet growth.AXON raised its 2026 revenue growth outlook to 30-32%, up from its prior forecast. Axon Enterprise, Inc. (AXON - Free Report) is witnessing strong momentum in its Connected Devices segment. Segmental revenues surged 33% year over year in the first quarter of 2026, following an increase of 29.1% in 2025. Strong demand for its next-generation TASER 10 products, counter-drone equipment and virtual reality training services drove its results.

Growing popularity for the company’s advanced body-worn camera, Axon Body 4, also augmented the segment’s growth. With upgraded features such as a bi-directional communications facility and a point-of-view camera module option, this body camera is generating significant demand.

In the first quarter, revenues from the company’s TASER product line increased 19% year over year, driven by TASER 10, while those from the Personal Sensors surged 23%, led by Axon Body 4. Also, revenues from Platform Solutions product line soared 95%, supported by counter-drone, virtual reality and fleet.

Growing instances of terrorism and criminal activities, with concerns related to the ever-increasing fraudulent activities, will augur well for Axon’s products in the quarters ahead. Driven by business strength, Axon issued bullish guidance for 2026. It currently expects total revenues to increase approximately 30-32% year over year, higher than 27-30% guided earlier.

Segment Snapshot of AXON's PeersWoodward, Inc.’s (WWD - Free Report) Industrial business segment reported net sales of $387 million in the second quarter of fiscal 2026, up 20% year over year. Woodward generated 35.5% of its total sales from this segment in the quarter. The increase in revenues for Woodward’s segment is primarily attributable to strength across power generation, transportation and oil & gas markets.

Kratos Defense & Security Solutions, Inc.’s (KTOS - Free Report) Government Solutions segment’s first-quarter 2026 revenues increased 20.4% year over year to $288.4 million. The segmental revenues were driven by strength in Kratos Defense’s Turbine Technologies, Defense Rocket Systems and Microwave Products businesses. Kratos Defense derived 77.7% of its total revenues from this segment during the quarter.

AXON’s Price Performance, Valuation and EstimatesShares of Axon have gained 36% in the past three months compared with the industry’s growth of 1.8%.

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From a valuation standpoint, AXON is trading at a forward price-to-earnings ratio of 58.61X, above the industry’s average of 42.74X. Axon carries a Value Score of F.

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The Zacks Consensus Estimate for AXON’s 2026 earnings has been stable over the past 60 days.

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

The most instructive XRP trade of 2026 was an exit. When it emerged this month that Goldman Sachs, once the largest XRP holder among Wall Street institutions, had sold down its position, the reaction split along familiar lines: bears read it as the smartest money leaving a stalled asset, bulls read it as a bank taking profits on ETF seeding and creation-desk inventory it never intended to hold.

Both camps then arrived at the same, more interesting question, and it is the one that will define XRP’s next year. The first $1.5 billion of ETF money is in. Goldman’s chapter is closed. Standard Chartered says the next tranche is worth $4 billion to $8 billion. So who, exactly, buys it, what has to happen first, and what does XRP look like if they do?

Summary

XRP ETFs have attracted about $1.5 billion in net inflows, with Standard Chartered estimating another $4 billion to $8 billion could follow if the CLARITY Act becomes law. Registered investment advisors, model portfolios, wirehouses, corporate treasuries, and sovereign investors are expected to drive the next wave of institutional XRP ETF demand over time. ETF inflows have continued despite weak price action as long term accumulation, lower exchange balances, and regulatory progress compete with macro pressure and ongoing supply.  The question matters because XRP has spent 2026 as the market’s cleanest natural experiment in whether flows alone can move a price. The token trades near $1.08 inside a range that has compressed to roughly $1.00 to $1.13, down around 40 percent on the year, while nearly every input a flow analyst would track has pointed the other way: sustained ETF creations, whale accumulation running at multiples of last year’s pace, exchange balances at multi-year lows, and a parent company stacking regulatory wins across three continents. The demand arrived. The price did not respond. Resolving that contradiction requires taking the flow machine apart piece by piece.

What the first $1.5 billion proved Five spot XRP exchange-traded funds launched in the United States between November and December 2025, arriving in the window after the SEC’s posture shifted and before any statute confirmed it. Through mid-2026 the products have gathered roughly $1.5 billion in net inflows, a figure that deserves more context than it usually gets. That total accumulated during the worst crypto tape since 2022, with Bitcoin falling from the $90,000s toward $60,000, the Federal Reserve pivoting from expected cuts toward a possible hike, and the Fear and Greed Index pinned in the twenties. Gathering $1.5 billion into a falling altcoin during a fear regime is not failure. It is evidence of a persistent bid that did not exist in any prior cycle, because the wrapper that carries it did not exist.

The composition of that bid matters as much as its size. ETF flows in the launch phase come disproportionately from three sources: self-directed retail moving out of exchange custody and into brokerage accounts, hedge funds running basis and arbitrage strategies, and early-adopter advisors making small allocations for aggressive clients. What launch-phase flows conspicuously exclude is the slow money: the wirehouse model portfolios, the pension consultants, the bank trust departments, and the insurance general accounts. Those channels move on compliance calendars, not conviction, and their compliance calendars all point at the same gate.

Benchmarking the figure against the category sharpens the point. The five XRP products collectively rank behind only the Bitcoin and Ethereum complexes among American crypto ETFs by assets gathered, ahead of the Solana products that launched into the same window with a stronger price narrative. Monthly net flows have oscillated with the tape, including redemption stretches during the worst weeks of the drawdown, but the cumulative line has kept its upward slope through eight months that destroyed weaker products across the fund industry. Whatever the price chart says, the wrapper found a durable audience on its first attempt, and product durability is the precondition every larger channel checks before it checks anything else.

The gate: statute, not classification That gate is legal permanence. The SEC and CFTC jointly classified XRP as a digital commodity in March 2026, an interpretive release that ended, in practical terms, the five-year war that began with the SEC’s 2020 lawsuit against Ripple. But an interpretive release binds nobody past the current commissions, and the institutional legal departments that gatekeep the largest pools of American wealth have been explicit about the distinction. Their memos approve products backed by law and defer products backed by guidance. The CLARITY Act, the market structure bill now sitting on the Senate calendar, is the instrument that converts one into the other, which is why Standard Chartered’s $4 billion to $8 billion projection is written as conditional: those flows unlock if the bill becomes law.

The mechanics of the projection are worth spelling out, because the number is not a guess about sentiment. Analysts build it from allocation math: take the advised wealth channels that currently exclude crypto ETFs, apply the small percentage allocations their model portfolios assign to alternatives when products clear compliance, weight by XRP’s likely share of a multi-asset crypto sleeve alongside Bitcoin, Ethereum, and Solana products, and discount for adoption lag. Run that arithmetic across several trillion dollars of advised assets and single-digit billions fall out quickly. The projection’s fragility is equally visible in its assumptions: it requires the law to pass, the wirehouses to act on it within quarters instead of years, and XRP to hold its place in the standard institutional basket. As crypto.news examined in its analysis of the bill’s falling odds, the first assumption alone now carries roughly 43 percent probability for 2026, which means the headline flow number should be probability-weighted by anyone using it seriously.

The buyers, ranked by likelihood Ranking the candidate buyers of the next $4 billion produces a clearer picture than the generic institutional label. The most probable early source is the registered investment advisor channel, roughly $8 trillion of American wealth where individual firms make their own compliance decisions and where crypto allocations have already normalized at the aggressive end. RIA flows into Bitcoin ETFs led every other channel in that product’s first year, and the pattern would likely repeat down the risk curve.

Second come the model portfolio and turnkey asset management platforms, which matter less for their size than for their automation: once an XRP product enters a model, flows recur monthly with rebalancing, indifferent to headlines. Third, the wirehouses, the largest and slowest pool, where solicited recommendations require the statutory green light and where internal approval processes run quarters after that. Fourth, corporate treasuries, a wildcard channel that Bitcoin normalized and that a handful of firms have already extended to XRP; permanence in law plus an accounting framework would widen that experiment. Fifth and most speculative, sovereign and quasi-sovereign buyers in jurisdictions where Ripple’s payment infrastructure is operationally embedded, a category that generates headlines out of proportion to its realistic near-term size.

The timing across these channels is sequential, not simultaneous, and the sequence is the part most projections flatten. RIA adoption can begin within weeks of a statutory trigger because the decision sits with thousands of small compliance committees rather than a handful of large ones. Model platforms follow within one to two quarters, on their scheduled review cycles. Wirehouse approval historically lags by two to four quarters even after the stated objection is removed, because internal product committees, training requirements, and suitability frameworks each add their own clock. Stacking those lags against Standard Chartered’s range suggests the honest shape of the projection: a thin front edge arriving within months of passage, and the bulk arriving across 2027, which is a materially different trade than the headline number implies.

Against these stand the sellers. Launch-phase arbitrageurs exit as basis compresses. Early holders use ETF liquidity as an exit ramp, which is partly what the Goldman episode illustrated. And Ripple itself remains a structural source of supply through its escrow releases, a flow bulls prefer not to model and bears never stop modeling. Net flow, not gross inflow, is what moves price, and the first eight months of ETF trading have shown the net figure can stay positive while the price goes nowhere if enough legacy supply uses the new demand as liquidity.

The demand stack beneath the ETFs The ETF story sits on top of an on-chain demand picture that has quietly strengthened all year. Whale accumulation, measured by large-wallet inflows and exchange outflows, has run at roughly triple last year’s pace during the 2026 drawdown, the classic accumulation-into-weakness pattern that preceded prior cycle turns. Exchange balances have fallen toward multi-year lows, shrinking the tradable float. XRP Ledger activity has grown across payments, tokenized real-world assets, and the RLUSD stablecoin, which has become the settlement asset for an expanding share of Ripple’s enterprise volume.

The corporate side reads the same direction. Ripple holds more than 75 regulatory licenses and registrations worldwide. It secured full authorization under the European Union’s MiCA framework in Luxembourg this month, opening the entire European Economic Area under a single passport. Mastercard named Ripple a settlement partner in its AI payments network. SWIFT-connected banks have begun routing blockchain settlement pilots through Ripple-linked institutions. And the company stages its largest event of the year, Swell, alongside the XRPL developer summit in New York in late October, a traditional venue for partnership announcements. On any fundamental checklist an equity analyst would recognize, the boxes are ticked. That is precisely what makes the price action so uncomfortable.

The RLUSD complication One development the flow models handle awkwardly is that Ripple’s fastest-growing product is no longer XRP. RLUSD, the company’s regulated stablecoin, has become the settlement asset for a rising share of enterprise volume, the collateral base for Ripple Prime’s institutional services, and the instrument through which many of the bank partnerships actually clear. Every corporate win that routes through RLUSD strengthens Ripple the company while contributing nothing direct to XRP the asset, and the divergence has become a live debate among holders: whether the stablecoin is the wedge that eventually drives ledger activity and XRP demand for bridging and fees, or the quiet replacement of the token’s original use case with a product institutions find easier to hold.

For the ETF flow question, the debate cuts a specific way. Allocators buying an XRP product are buying the token’s monetary premium and its role in the ledger economy, not Ripple’s equity story. If the company’s growth increasingly expresses itself through RLUSD and through services revenue, the fundamental narrative that supports a dedicated single-token allocation weakens at the margin, even as the company itself strengthens. Bulls answer that stablecoin settlement and tokenized asset growth raise ledger throughput, and throughput ultimately prices the native asset. The honest status of that argument is unresolved, and it is the fundamental question hiding inside the flow question: $4 billion buys exposure to XRP, and the market is still deciding what XRP is exposure to.

Why ETF demand behaves differently from spot demand The distinction between a billion dollars of exchange buying and a billion dollars of ETF creations is mechanical, and it decides how the next tranche would express itself in price. Spot demand on exchanges is discretionary and reflexive: it arrives with momentum, leaves with drawdowns, and concentrates in the leveraged venues where liquidations amplify both directions. ETF demand routes through authorized participants who create and redeem shares against the net of each day’s orders. The flow that survives that netting is disproportionately allocation flow: advisors rebalancing models, platforms deploying scheduled contributions, funds equitizing mandates. It arrives on calendars, ignores intraday narrative, and, critically, keeps arriving through drawdowns because rebalancing into weakness is what model portfolios are built to do.

That character difference explains an apparent paradox in the 2026 data: steady net creations against a falling price. The creations were real, but they were met by discretionary sellers using the wrapper’s liquidity as an exit, including, evidently, the largest bank holder on the street. The bull interpretation is that this is exactly what accumulation phases look like when a new demand channel opens into an old holder base: impatient supply migrates to patient hands, the float thins, and the price stays flat until the migration completes. The bear interpretation is that the patient hands are simply early, and patience is not a catalyst. The data cannot distinguish the two until a demand shock tests the thinner book. What the data does show is that the pipe works: shares get created, spreads stay tight, and the products tracked their net asset values through the year’s worst volatility, which is the operational track record the slower channels required before even beginning their reviews.

The Bitcoin ETF playbook, one asset down the curve There is a map for how the channels open, because Bitcoin walked it in 2024 and 2025. The Bitcoin spot ETFs launched into self-directed and hedge fund demand, spent roughly two quarters dominated by basis trades, then inflected when the RIA channel cleared the products for solicited use and the first wirehouses followed. Each gate that opened produced a step change in cumulative flows, and the price responded with a lag measured in weeks, not days, because allocation flow does not chase. By the time the largest platforms had fully opened, the products held a meaningful share of circulating supply and the asset’s volatility profile had visibly compressed.

XRP’s products are one asset class rung below on the institutional risk ladder and roughly three quarters into the equivalent timeline, still waiting on the gate that Bitcoin never needed: statutory classification. Bitcoin entered its ETF era with a commodity status nobody seriously disputed. XRP entered with a court ruling, an interpretive release, and a pending bill, which is why its channel-opening sequence stalled at the compliance stage that Bitcoin’s cleared automatically. The playbook’s lesson is not that XRP repeats Bitcoin’s flow curve at smaller scale, though the analog is tempting. The lesson is that the curve is gated by legal events, and the gates open in order. The March release opened the first. The Senate holds the second.

The supply side of the ledger Flow analysis that counts only buyers is half an analysis, and XRP’s supply side has features Bitcoin’s does not. Ripple’s escrow releases up to one billion XRP monthly, with unused portions returning to new escrow contracts. The net escrow contribution to circulating supply has trended well below the headline figure, and the company has leaned on programmatic sales less as institutional revenue lines have grown, but the overhang is structural: the market prices the possibility of supply even in months when little arrives. Layer on the launch-era holders for whom regulated products finally offered institutional-grade exit liquidity, and the absorption burden on the first $1.5 billion becomes clearer. New demand did not meet a fixed float. It met a float with a scheduled faucet and a queue at the exit.

The counterweight is the on-chain float data. Exchange balances at multi-year lows mean the discretionary sell-side has thinned even as the escrow schedule persists, and RLUSD settlement growth gives a share of monthly releases an internal destination that did not previously exist. The supply picture, like everything else in this asset, resolves into a timing question: whether the faucet or the gate moves first.

Why the price has not followed The bear explanation for the standoff is the simplest and has been the best trade of the year: XRP is a high-beta risk asset in a market being repriced by the Federal Reserve, and no token-specific story survives a regime where inflation prints at three-year highs and rate expectations invert. XRP’s correlation with Bitcoin has remained high through the drawdown, and Bitcoin itself has ignored its own bullish supply dynamics for months. In this reading, the flows are real but small against the macro tide, the $1.5 billion of ETF demand was absorbed by sellers grateful for the liquidity, and the next $4 billion, if it comes, arrives only after the Fed turns, at which point every risk asset rallies and XRP’s story adds beta instead of alpha.

The structural bear adds a colder point: XRP’s investment case has become a regulatory derivative. Strip out the CLARITY Act and the token trades on cross-border payment adoption that, while real, has never been priced by the market as sufficient on its own. If the bill slips to 2027, the one catalyst distinguishing XRP from the general altcoin complex slips with it, ETF inflows could reverse the way they briefly did earlier this year, and analysts have flagged the zone below $1.00 as thin support down to materially lower levels. The Goldman exit, in this telling, was not noise. It was a sophisticated holder concluding that the probability-weighted return of waiting had fallen below its hurdle.

The bull rebuttal: coiled, not broken The bull case does not dispute the macro pressure; it disputes the conclusion. Prices that refuse to fall on bad tape while accumulation triples are compressing, not failing, and the float shrinkage means any demand shock hits a thinner order book than at any point in XRP’s modern history. Seasonality offers a minor tailwind with a major caveat: July has historically been XRP’s strongest month, averaging roughly 10 percent gains, though this July opened deep in a fear regime that blunts seasonal patterns. The levels are unusually clean. The $1.00 floor has been defended repeatedly, resistance sits at $1.13 and then the $1.18 to $1.20 zone, and a legislative surprise into light positioning would find little supply between the breakout level and the low $1.40s where the year’s earlier ranges sat, as crypto.news mapped in its July price prediction.

The deeper bull argument is about market structure rather than price. Every prior XRP cycle ran on retail exchanges and offshore leverage. This one is the first where a regulated wrapper connects the token to the advised wealth system, and wrappers change the character of demand: slower to arrive, slower to leave, price-insensitive on schedule. The first $1.5 billion built the pipe. The debate over the next $4 billion is really a debate over timing, because the channels themselves, once compliance-cleared, allocate mechanically. Bulls can be wrong about 2026 and right about the asset, which is an argument for position sizing instead of abstinence.

What would invalidate the flow thesis Intellectual honesty requires listing the ways the $4 billion never arrives even if the bill passes. The first is product cannibalization. The next generation of crypto ETFs is multi-asset: index products holding baskets weighted by market capitalization, which institutional buyers often prefer to single-token bets. If the advised channels open and allocate through baskets, XRP captures only its index weight of the flows, a fraction of the headline projection built on dedicated products. The second is fee and liquidity concentration. ETF flows historically consolidate into one or two winners per category, and a fragmented five-issuer field splits liquidity in ways that keep the largest allocators waiting for a dominant product to emerge.

The third invalidator is reputational path dependence. A single adverse event, an issuer failure, a custody incident, an escrow controversy, would reset the compliance clocks that took years to run, and crypto’s history suggests assigning that tail a nonzero weight. The fourth is simple opportunity cost: if the gate opens during a macro regime where advisors are cutting risk, the mechanical allocations shrink with the risk budgets they draw from. None of these kills the asset. Each of them turns the projection’s midpoint into its ceiling, and collectively they are why serious flow forecasts carry ranges wide enough to drive a truck through.

What Ripple controls and what it does not It is worth separating the variables by who holds them. Ripple controls its licensing map, its product velocity, RLUSD’s growth, escrow release policy, and the October event calendar. It controls none of the three variables that will actually decide the flow question: the Senate schedule, the Federal Reserve, and the oil price. That asymmetry explains the company’s visible strategy of building the institutional rails before the demand arrives, so that when the gate opens, adoption is an integration task rather than a construction project. It also explains why company news has stopped moving the token: the market has correctly identified which variables bind.

For regulation watchers, the checklist between now and the August recess is short. A scheduled Senate floor vote is the unlock signal. The reconciliation of the two committee texts is its precondition. Public declarations from additional Democratic senators are the vote-count tell. And ETF net flows themselves are the real-time referendum: sustained creations through a stalled news cycle would show the slow money starting to front-run the statute, while accelerating redemptions would show the hope premium leaking out.

The scoreboard to watch through August Condensing the analysis into a watchlist: Senate floor scheduling is the master variable, and everything else is downstream. Weekly ETF net flows are the highest-frequency tell, with sustained creations through stalled news indicating front-running and accelerating redemptions indicating the hope premium unwinding. Exchange balance trends and large-wallet accumulation show whether the patient-hands migration continues. RLUSD supply growth versus XRP ledger fee volume tracks the internal debate about what the token captures. And the $1.00 and $1.13 levels frame the range until one of the above breaks it.

The next $4 billion is neither a fantasy nor a schedule. It is a documented pipeline behind a legal gate, with a probability attached that the market itself now prices below even odds for this year. If the gate opens, the buyer list is specific, the mechanics are boring, and boring is what durable repricings are made of. If it does not, XRP spends the midterm season as a range asset defending $1.00 with strong hands accumulating and weak hands gone, which is not the worst setup an asset has entered a year with.

Goldman answered the question of who sells. The Senate, not the market, holds the answer to who buys.

Disclaimer: This article is information, not investment advice. Prices, flow figures, analyst projections, and legislative timelines reflect reporting available as of July 14, 2026, and can change quickly. ETF flow projections are conditional estimates, not commitments. Nothing here is a recommendation to buy or sell XRP or any other asset. Verify current developments from primary sources and consider your own circumstances before making any decision.

As XRP (CRYPTO: XRP) is battling to stay above $1, pro-crypto attorney John Deaton said XRP holders played a meaningful role in Ripple’s landmark legal victory against the SEC.

‘Happy XRP is not a security day’In an X post on July 14, Deaton said the court cited his amicus brief, nearly 4,000 affidavits submitted by XRP holders, and an oral argument he made in the LBRY case regarding secondary-market sales of digital assets.

He also noted that his brief argued that the token is merely digital code regardless of how it may have been marketed.

Judge Torres ultimately ruled that XRP itself is not a security, a conclusion Deaton said aligned with that argument.

Ripple chief legal officer Stuart Alderoty also celebrated on X stating, "Happy XRP IS NOT A SECURITY DAY!"

Vet, an XRP Ledger validator, also noted that the legal win led to a more crypto friendly administration and it was the "beginning of the end of the previous SEC war on crypto."

Japan remains one of XRP’s strongest markets, supported by regulatory clarity, significant institutional participation and one of the world’s largest XRP holder communities.

Doppler Finance announced a strategic partnership with SBI Digital Finance to expand institutional XRP finance in Japan. The main goal is to develop compliant XRP-based financial solutions for institutional investors.

Potential Capitulation BottomIn a podcast on July 13, crypto analyst Cryptoinsightuk highlighted elevated open interest, positive funding rates and geopolitical uncertainty as possible triggers for XRP to briefly fall below $1, targeting the $0.925-$0.95 range.

However, the analyst views such a move as a potential capitulation bottom rather than the beginning of a deeper downtrend.

Strong support around $0.95 and relatively limited liquidity below that level could pave the way for a rebound toward $1.70-$1.80.

While a decline to $0.63 remains possible, the analyst considers it a lower-probability scenario.

Image: Shutterstock

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Ripple-backed Evernorth has unveiled a $44 million CEO equity package in a fresh SEC filing while advancing its merger to create a Nasdaq-listed XRP treasury company.

Summary

Evernorth’s latest SEC filing includes a $44 million equity award for CEO Asheesh Birla. The amended filing advances Evernorth’s merger with Armada Acquisition Corp II and planned XRPN listing. Evernorth also launched a Japanese-language XRP information channel without announcing local operations. According to Evernorth Holdings’ fourth amended Form S-4 registration statement filed with the U.S. Securities and Exchange Commission, the company updated executive and director compensation arrangements while advancing the paperwork required for its proposed business combination with Armada Acquisition Corp II, a special purpose acquisition company backed by Arrington Capital.

🚨SCOOP: Ripple-backed Evernorth Holdings files S-4 Amendment with the US SEC
🔸Evernorth moves closer to its merger with Armada Acquisition Corp II and to launch the largest Nasdaq-listed public XRP treasury

🔸Filing announces CEO Ashish Birla’s base salary and a $44 million… pic.twitter.com/wStNBFZ23q

— Rednirav (@CryptoRednirav) July 14, 2026 The filing sets CEO Asheesh Birla’s base salary and grants him an initial equity award valued at about $44 million, together with vesting terms. Chief financial officer Matt Frymier would receive a base salary, annual bonus eligibility and an equity award worth about $5.6 million.

Evernorth also disclosed restricted stock unit awards valued at $750,000 for executives, subject to approval by the board’s compensation committee and the company’s shareholders.

Merger filing moves XRP treasury listing closer Beyond executive compensation, the amended filing moves Evernorth another step toward completing its merger with Armada Acquisition Corp II. If the transaction receives regulatory and shareholder approval, the combined company is expected to trade on Nasdaq under the ticker XRPN while operating what Evernorth has described in its SEC filings as the largest publicly listed XRP treasury company.

According to the filing, Evernorth has secured more than $1 billion in gross proceeds from investors including Ripple, Arrington Capital, SBI Holdings, Pantera Capital and Kraken.

Board appointments were also updated. Ripple chief legal officer Stuart Alderoty is expected to join the board alongside CEO Asheesh Birla and Ted Janus. The proposed board would also include OpenAI Foundation chief financial officer Robert Kaiden and Antalpha chief operating officer Derar Islim.

Separately, Evernorth has expanded its public communications by launching a Japanese-language social media account focused on XRP-related updates and market education. In its introductory message, the company stated that Japan had supported XRP early and that it would continue building from there. However, Evernorth did not announce a new office, regulatory license, investment, product launch, or local operating business in Japan.

The company added that the Japanese account would explain market developments in simple terms and provide professional information without discussing XRP price movements or forecasts. Evernorth has not disclosed local staffing, partnerships or services connected to the initiative, while its website continues to list San Francisco as its primary headquarters.

XRPN stock holds steady as XRP activity grows While the merger still awaits regulatory approval, Armada Acquisition Corp II shares have largely held their gains. The stock is up about 2.25% since the beginning of the year and has gained nearly 0.5% over the past month, although it closed 0.10% lower on Monday. Its 52-week high stands at $10.91.

Source: Yahoo Finance Evernorth has also pointed to rising XRP adoption across several areas. According to the company, tokenized real-world assets on the XRP Ledger increased from roughly $150 million to $4 billion over the past year, supported by growth in spot XRP ETF inflows and an increase in newly created XRP wallets.

Meanwhile, XRP (XRP) traded at about $1.10 after rising 2.3% over the previous 24 hours. The token fluctuated between $1.06 and $1.11 during the session, while trading volume rose nearly 16% ahead of the release of U.S. consumer price index inflation data.

In This Article The Van Rossem Upgrade Is One Vote AwayHoskinson Defends EMURGO But the SBI Miss StingsThe Cardano DRep Governance Standoff Has Already Drawn Blood Cardano is experiencing one of its most significant weeks in months, and not all of the news is positive. The van Rossem upgrade is progressing through Cardano’s governance process.

Meanwhile, Charles Hoskinson has defended EMURGO after Solana announced a high-profile partnership with SBI Holdings, which the Cardano community believes should have belonged to them.

UPDATE

CARDANO'S NEXT HARD FORK COULD GO LIVE THIS MONTH 😱😱😱

Cardano's Van Rossem hard fork is currently in on-chain governance voting and could activate in July 2026.

The upgrade cuts smart contract costs, introduces ZK-ready cryptography, and marks Cardano's first hard… pic.twitter.com/lAlfY5DtJX

— Mintern (@MinswapIntern) July 12, 2026

Additionally, the ecosystem’s DRep governance system is engaged in an increasingly contentious standoff with founding entities, resulting in the cancellation of the Cardano Summit 2026.

The central issue in all three situations is the same: Cardano’s new decentralized governance infrastructure is functioning exactly as intended, and that is part of the problem.

The Van Rossem Upgrade Is One Vote Away van Rossem hard fork update 🍴

The hard fork initiation action was ratified at the epoch boundary on July 13, 2026 at 21:45 UTC.

Voting Result:
✅️ DReps: 77.63% / 60%
✅️ SPOs: 52.7% / 51%
✅️ CC: 6 constitutional, 1 did not vote

Following ratification, enactment will now… pic.twitter.com/GGcQSajRjm

— Intersect (@IntersectMBO) July 13, 2026

The van Rossem upgrade is being ratified through Cardano’s on-chain governance. Think of it as the difference between a landlord deciding to renovate and tenants voting on it themselves.

The on-chain vote is close to securing the required approvals from DReps, SPOs, and the Constitutional Committee, and Intersect’s Hard Fork Working Group has recommended proceeding with the upgrade.

Protocol Version 11 delivers improvements to Plutus smart contract performance and lower execution costs for DeFi/stablecoin scripts.

It also includes pairing-based cryptographic primitives that enable native zero-knowledge proof verification, enhancements to node security, VRF key uniqueness, and stake pool hardening, as well as improved ledger consistency and updated reference input rules. It also lays groundwork for later scaling and governance-era changes.

DISCOVER: Best Meme Coin ICOs to Invest in 2026

Hoskinson Defends EMURGO But the SBI Miss Stings This week, SBI Holdings announced a partnership with Solana to develop on-chain financial markets in Japan, prompting questions about why Cardano missed the opportunity.

Cardano’s founder, Charles Hoskinson, refuted claims of failure, stating that historical ties don’t guarantee commercial deals and that neither EMURGO nor the Cardano Foundation is contractually bound to negotiate. He suggested using the Cardano treasury to fund a dedicated business development organization to pursue strategic partnerships.

Cardano also missed out on the OpenUSD stablecoin initiative, which includes companies like Ripple and Coinbase. EMURGO’s reduced activity is due to a focus on recovery after the SecondFi wallet security incident.

The situation is ironic, as Hoskinson is advocating for treasury-funded expansion amid difficulties in getting large proposals approved, despite ongoing engagement in the ecosystem.

EXCLUSIVE: Join 99Bitcoin’s $1000 USDT Airdrop on ByBit

The Cardano DRep Governance Standoff Has Already Drawn Blood

(SOURCE: TradingView)

The DRep system for Voltaire governance has rejected several key proposals, including a 14 million ADA request for the Cardano Summit 2026 and a revised 7.8 million ADA proposal that fell short of the required supermajority, leading to the summit’s cancellation.

Additionally, a 32.9 million ADA research fund proposal faced 86.72% opposition due to concerns about bundling, overlap with IOG’s responsibilities, and lack of detailed milestones. While IOG secured approval for six out of nine treasury proposals totaling 131.5 million ADA, the largest asks faced friction.

Hoskinson has warned that rejecting research funding could deter engineers, prompting the Cardano Foundation to encourage active voting among stake pool operators.

The governance framework established by CIP-1694 is functioning as intended, but the ongoing deadlock raises concerns about Cardano’s competitiveness.

The upcoming ratification of the van Rossem upgrade could enhance the credibility of on-chain governance, but persistent governance issues could lead to significant setbacks for Cardano.

EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market

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Wall Street expects a year-over-year increase in earnings on higher revenues when Equifax (EFX - 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 21. 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 credit reporting company is expected to post quarterly earnings of $2.21 per share in its upcoming report, which represents a year-over-year change of +10.5%.

Revenues are expected to be $1.69 billion, up 10.3% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

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

Price, Consensus and EPS Surprise

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

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

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

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

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

How Have the Numbers Shaped Up for Equifax?For Equifax, 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 -0.33%.

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

So, this combination makes it difficult to conclusively predict that Equifax 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 Equifax would post earnings of $1.69 per share when it actually produced earnings of $1.86, delivering a surprise of +10.06%.

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

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

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

Equifax 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.

Key Takeaways Broadridge Financial's recurring revenues made up nearly 66% of total revenues in fiscal Q3 2026.BR is seeing growth in investor communications, equity positions and governance recurring revenues.BR expects the CQG acquisition and post-trade demand to strengthen institutional trading capabilities. Shares of Broadridge Financial Solutions, Inc. (BR - Free Report) have had a decent run over the past month. The stock has risen 5.7% compared with the industry’s 7.6% growth. The Zacks S&P 500 composite barely moved during the said time frame.

BR’s fourth-quarter fiscal 2026 earnings are expected to be up 5.6% year over year. Earnings for fiscal 2026 and 2027 are projected to rise 11.7% and 9.7% year over year, respectively. Revenues are expected to increase 7.7% in fiscal 2026 and 4.5% in fiscal 2027.

Factors That Bode Well for BRBroadridge Financial, a provider of investor communications and technology-driven solutions to banks, broker-dealers, asset managers and corporate issuers, benefits from a strong business model, backed by higher recurring fee revenues. A major portion of the total revenues is derived from recurring fees, driven by new client growth, internal expansion and acquisitions. During the third quarter of fiscal 2026, recurring revenues accounted for nearly 66% of total revenues. Management expects at least 7% recurring revenue growth on a constant-currency basis for fiscal 2026.

BR’s Investor Communication Solutions is also experiencing growth, aided by strong investor participation and continued growth in equity and mutual fund positions. The company reported that its Governance recurring revenues increased 8% year over year in the third quarter of fiscal 2026. Total equity position growth reached 15%, while revenue-generating equity positions increased 11% during the said time frame.

The Global Technology and Operations segment continues to perform well for the company. Strong demand for BR’s post-trade processing solutions and the recent acquisition of CQG, a leading provider of futures and options trading technology, are expected to boost Broadridge's institutional trading capabilities by adding execution management, algorithmic trading and market connectivity solutions.

The company has demonstrated a strong commitment to its shareholders through consistent dividend payments, despite the fluctuations in its cash position. BR paid dividends of $331 million, $368.2 million and $402.3 million in fiscal 2023, 2024 and 2025, respectively. This consistency underscores its dedication to creating long-term value for investors.

Risks to WatchGlobal service providers operate in a fiercely competitive landscape. BR faces stiff competition from DST Systems Inc., investor communication and corporate governance solutions firms, brokerage firms and transfer agents across segments. This competition fuels innovation across the industry while driving pricing pressures. Ongoing technology investments increase the challenge of maintaining profitability while competing for growth.

BR is heavily exposed to the securities industry (including brokerages and asset managers). Any significant market downturn will negatively impact both the industry and the company's financial health.

BR had a current ratio of 0.94 at the end of the third quarter of fiscal 2026, lower than the industry's average of 1.9. A current ratio below 1 often suggests that a company may not be well positioned to meet its short-term obligations.

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

Stocks to ConsiderA couple of better-ranked stocks in the Internet-Software industry are HubSpot, Inc. (HUBS - Free Report) and GitLab Inc. (GTLB - Free Report) .

HubSpot, Inc. sports a Zacks Rank #1 at present. It has a long-term earnings growth expectation of 20.8%. HUBS delivered a trailing four-quarter earnings surprise of 5%, on average.

GitLab also flaunts a Zacks Rank of 1 at present. It has a long-term earnings growth expectation of 5.8%. GTLB beat on earnings in each of the trailing four quarters, delivering an average surprise of 30.1%.

Arm Holdings shares fell more than 6% on Tuesday after HSBC downgraded the chip designer to Hold, saying foundry capacity constraints are likely to limit earnings upside despite the company's strong long-term growth prospects.

The brokerage still raised its price target to $315 from $255.

With Arm trading around $286, HSBC sees upside over the longer term but believes much of the company's growth story has already been reflected in its share price.

“We have previously flagged that Arm’s entry into merchant server CPUs and higher server CPU royalties could be transformative,” HSBC analyst Frank Lee wrote in a note to clients.

According to HSBC, investor enthusiasm around Arm's server CPU ambitions has exceeded expectations since the company's Arm Everywhere event in March.

“The market reaction to the merchant server CPU narrative has exceeded our expectations, with the stock trading +122% since the Arm Everywhere event on 24 March (vs. SOX +57% during the same period)," Lee said.

"With management targeting $25B of revenue and $9 non-GAAP EPS by FY31E, we think the shares already price-in strong long-term growth, trading at an expensive 139x/95x 2026e/2027e PE. We therefore roll our valuation forward to FY29e, which drives our target price revision. However, foundry capacity bottlenecks limit near-term earnings upside, so we downgrade to Hold.”

Lee added that additional foundry capacity remains the primary catalyst for further upside but appears unlikely in the near future.

“Given incremental foundry capacity allocation being the primary upside catalyst, which we believe is unlikely, we downgrade to Hold due to limited earnings upside potential.”

The downgrade marks a reversal from HSBC's stance in March, when it double-upgraded the stock from Reduce to Buy while lifting its price target to $205 from $90.

At the time, the brokerage argued that Arm was transitioning from a smartphone-focused licensing company into a major supplier of CPU architecture for AI servers and remained undervalued.

Other analysts remain bullishNot all brokerages share HSBC's cautious view.

Last month, Bernstein analyst David Dai raised the firm's price target on Arm to $500 from $300 while maintaining an Outperform rating.

Dai described Arm as a structural beneficiary of the "renaissance of CPUs for agentic AI," citing the architecture's power efficiency and the company's evolution from an intellectual property licensor into a CPU developer.

TD Cowen also lifted its price target to $475 from $265 while reiterating a Buy rating, reflecting confidence that AI-driven computing demand will continue to support the stock.

Separately, Arm announced an expanded partnership with semiconductor technology provider Arteris to strengthen processor security.

Arteris said Arm will continue integrating its Cycuity Radix technology into processor core development to enhance semiconductor security assurance.

Arteris Chief Executive K. Charles Janac said that by leveraging the company's technology, Arm is building more rigorous security capabilities at a time when semiconductor cybersecurity is becoming increasingly important for electronic systems, including data centres.

Shares of Arteris rose more than 3% following the announcement.

BNB marked its ninth anniversary since launching on July 14, 2017, evolving from an Ethereum-based utility token into a key asset driving one of the crypto industry’s largest blockchain networks.

Progression from utility token to core network assetWhen BNB debuted in 2017, it entered the market as an ERC-20 token on Ethereum, priced at $0.15 with a total supply of 200 million. It initially functioned primarily to reduce trading fees and facilitate activities on the then-emerging Binance exchange, now one of the world’s largest digital asset platforms.

In 2019, BNB transitioned to its own proprietary blockchain, becoming a native asset. This migration allowed BNB to serve as the backbone for its own network infrastructure and opened the door for new on-chain use cases beyond its original exchange utility.

BNB Chain acknowledged that BNB entered the industry as a utility token for a new exchange, and has since become central to one of the most active decentralized ecosystems in crypto after nine years of development.

With the launch of Binance Smart Chain in 2020, the network gained compatibility with Ethereum-based smart contracts, allowing developers to build decentralized applications while using BNB for transaction fees and network operations. This move positioned the chain as an emerging hub for decentralized finance (DeFi) and gaming projects.

DeFi expansion and technology upgradesBNB Chain gained significant traction during the 2021 DeFi boom, with its on-chain activity pushing BNB’s price to $690 at its peak. The surge in applications and trading volume established the network as one of the more active blockchains alongside giants like Ethereum.

A major rebranding came in 2022 when Binance Smart Chain became BNB Chain, with BNB reimagined as “Build N Build.” This shift emphasized the chain’s focus on supporting developers and network expansion.

In 2023, the ecosystem incorporated the opBNB scaling solution, designed to increase transaction throughput, and BNB Greenfield, which delivered decentralized storage capabilities. These upgrades reflected the network’s strategy to expand beyond simple financial transactions.

Mini dictionary: opBNB, a Layer 2 scaling solution for BNB Chain, is designed to handle more transactions per second and lower network fees by processing transactions off-chain before settling them on the main BNB blockchain.

Token burns, block speed, and 2026 roadmapEfforts to streamline BNB Chain continued with the 2024 Beacon Chain fusion, which unified staking and governance functions under one chain for improved user and developer experience.

By 2025, BNB Chain had reduced block times to 0.75 seconds through upgrades named Pascal, Lorentz, and Maxwell. That year also saw BNB reach a new all-time high of $1,370, and the network logged a new record for decentralized exchange (DEX) trading volumes.

YearBlock TimeBNB Price HighTotal BNB Burned20240.75 secondsNot specifiedNot specified20250.75 seconds$1,370Not specified20260.45 secondsNot specified65 millionCumulatively, more than 65 million BNB tokens have been burned out of the original 200 million. The burn mechanism aims to reduce the total supply to 100 million, a process intended to increase scarcity and potentially add value to the remaining tokens.

Currently, BNB Chain processes blocks in 450 milliseconds and achieves a final settlement time of 650 milliseconds—double the efficiency compared to early 2026 figures. The 2026 second-half roadmap outlines plans to double mainnet throughput and introduce a Layer 1 solution capable of processing more than 100,000 transactions per second (TPS).

The updated roadmap sets out to improve speed and throughput, targeting a Layer 1 network with over 100,000 TPS and even faster finality for transaction settlement.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Jul 14, 2026, 2:57 p.m.

2 min read

Jeremy Allaire Circle CEO. (The Washington Post / Getty Images) Summary

JPMorgan said a new arrangement with Hyperliquid is a near-term revenue headwind for Circle and Coinbase, with a greater long-term threat to Circle's USDC economics. The bank argued the deal exposes a "prisoner's dilemma," encouraging Circle and Coinbase to compete for USDC distribution at the expense of each other's economics. The Wall Street firm lowered earnings estimates for both firms, citing the Hyperliquid changes alongside weaker crypto trading volumes and asset prices.JPMorgan (JPM) lowered its forecasts for Circle Internet (CRCL) and Coinbase (COIN), saying their revamped agreement with Hyperliquid weakens the economics of Circle's USDC and posed a bigger long-term threat to the stablecoin issuer.

The bank said the deal created a "prisoner's dilemma," incentivizing stablecoin issuer Circle and crypto exchange Coinbase to compete for distribution of the dollar-pegged token at the expense of each other's economics.

Hyperliquid, now one of the largest crypto trading venues, holds about $6 billion of USDC, or roughly 8% of the circulating supply, JPMorgan estimated.

"We think the change in the Hyperliquid relationship showcases the challenge for Circle and Coinbase partnership agreements because it can create 'a prisoner’s dilemma' that drive Coinbase and Circle to compete with each other when promoting USDC distribution," analysts led by Kenneth Worthington said in the Tuesday report.

Hyperliquid is one of crypto's fastest-growing trading venues and the leading decentralized perpetual futures exchange. The platform processed more than $150 billion in trading volume in July alone, while its volume relative to Binance climbed to 11.5%, underscoring its growing share of the derivatives market. USDC balances on Hyperliquid have swelled to roughly $6 billion, making it an increasingly important distribution channel for the stablecoin.

Under the new arrangement, Coinbase will classify USDC on Hyperliquid as "on-platform," collecting the income generated by reserves and paying 90% of it to Hyperliquid. JPMorgan estimated Coinbase previously split nearly all of the revenue evenly with Circle.

The bank cut earnings estimates for both companies, citing the Hyperliquid agreement and weaker crypto markets, though it expects higher interest rates to provide some support for USDC-related revenue over the longer term.

USDC has also lost momentum in recent months. Its circulating supply has fallen to about $73 billion from nearly $80 billion in March, part of a broader $10 billion contraction in the stablecoin market since May as crypto trading activity cooled and new regulated rivals chipped away at the dominance of USDC and Tether's USDT.

Japanese investment bank Mizuho said in a report last week that Circle's final approval from the U.S. Office of the Comptroller of the Currency to establish First National Digital Currency Bank is a positive milestone, but investors may be overestimating its significance.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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The two largest retail-facing trading platforms in the US are now competing for your idle stablecoins, and they’ve both picked the same DeFi protocol to do it. Coinbase and Robinhood have each built yield products on top of Morpho, the decentralized lending infrastructure that has quietly amassed over $11B in total value locked.

Two platforms, two philosophies Coinbase launched its onchain USDC lending product via Morpho back on September 18, 2025. The yields are variable, meaning they fluctuate with supply and demand in the lending markets, and the platform has advertised rates reaching as high as 10.8%.

On top of the base lending rate, Coinbase participants can earn MORPHO token rewards. These are claimable periodically, with Coinbase One subscribers reportedly getting enhanced access.

Coinbase has also introduced two risk-tiered vault options curated by Steakhouse Financial: “Prime” and “Higher Yield.” The Prime vault carries lower risk and lower returns, while Higher Yield does what the name suggests, with commensurately more exposure.

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Robinhood took a different path entirely. Its “Robinhood Earn” product started rolling out around July 1, 2026, and it targets an estimated 7% APY on USDG, its own stablecoin. Rather than letting rates float, Robinhood is fixing the yield for a year.

The Robinhood vault operates on the Robinhood Chain and is backed by insurance from Lloyd’s of London.

Why Morpho is the quiet winner Neither platform built its own lending protocol from scratch. Both chose Morpho, which functions as permissionless lending infrastructure that lets anyone create isolated lending markets, or “vaults,” with customizable risk parameters.

Neither platform requires lockup periods. Users can deposit and withdraw based on vault liquidity, with interest accruing instantly.

What this means for investors Coinbase’s variable model rewards active participants who understand DeFi mechanics and are comfortable with rate fluctuations. When lending demand is high, you could earn well above 7%. The MORPHO token rewards add upside, but tokens are inherently volatile.

Robinhood’s fixed 7% is designed for people who want to set it and forget it. The Lloyd’s insurance backing adds a layer of confidence that’s unusual in crypto yield products. But fixed rates carry their own risk for the platform: if market rates drop below 7%, Robinhood is subsidizing the difference. If rates spike well above 7%, users miss out on the upside.

Both Coinbase and Robinhood are publicly traded, SEC-reporting companies offering yield products built on decentralized infrastructure. The fact that regulators haven’t blocked these products, at least so far, suggests a growing tolerance for DeFi integrations when wrapped in compliant, insured, consumer-friendly packaging.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Key Takeaways GE Vernova plans $11B in capex and R&D through 2028 as it scales investments for long-term growth. Its upgraded Noventa lab will test transformers and disconnectors for tougher, renewable-heavy grids. Italy investments include a $30M-plus Sesto expansion, with Noventa adding about 15 workers annually. GE Vernova (GEV - Free Report) is entering a phase of elevated investment, with plans to invest $11 billion in capex and research and development in the 2025-2028 timeframe. As part of this plan, the company recently announced the completion of the modernization of its high-voltage R&D laboratory at the Noventa di Piave site, near Venice, Italy. 

The project is part of a broader four-year investment of about $7.2 million to strengthen the site's role in developing technologies that make power grids more reliable, flexible and resilient. As electricity demand increases and more renewable energy is added to the grid, utilities need modern equipment that can operate under tougher conditions. The upgraded laboratory will enable GE Vernova to test critical equipment, such as transformers and disconnectors, before it is installed in power networks.

The investment adds to GE Vernova's ongoing spending across its electrification business in Italy, including the recently announced expansion of the manufacturing facility in Sesto San Giovanni, which is valued at more than $30 million. The Noventa di Piave facility is part of GE Vernova's Electrification segment. With more than 50 years of experience, it has become an important part of the company's operations in Italy.

The site currently employs more than 300 people and plans to hire about 15 additional employees annually in the coming years. The modernization project supports the facility's long-term growth, helps attract skilled workers and strengthens its contribution to the local economy.

Together, the Noventa di Piave and Sesto San Giovanni facilities form an important part of GE Vernova's operations in Italy. They provide manufacturing, research and testing capabilities that support the country's power infrastructure while serving customers in export markets worldwide. GE Vernova has supported Italy's power sector for more than 100 years. Today, its technology helps power about 25% of Italy's electricity generation capacity.

To conclude, GE Vernova's aggressive investment strategy reflects confidence. Going forward, we are likely to see higher capex spending. This also appears to mark a turning point as the company positions itself for growth, stronger margins and long-term value creation.

Taking a Look at the R&D Plans of CompetitorsEmerson Electric (EMR - Free Report) continues to increase investments in research and development to strengthen its automation, software and intelligent industrial technologies portfolio. Following the acquisitions of National Instruments and AspenTech, the company is focusing its R&D efforts on AI-enabled automation, industrial software, machine vision, test and measurement systems, digital twins and advanced process control.

These technologies are designed to help manufacturers improve productivity, optimize energy use and accelerate digital transformation across industries such as power generation, chemicals, life sciences and semiconductors. Emerson spent $771 million on R&D in fiscal 2025, reflecting its continued commitment to product innovation.

Emerson plans to deepen the integration of hardware, software and industrial AI across its automation platform. The company is expanding research into autonomous operations, edge computing, predictive maintenance, cybersecurity and cloud-based industrial software.

Eaton Corporation  (ETN - Free Report) continues to prioritize research and development as demand grows for electrification, grid modernization and intelligent power management. The company's innovation strategy focuses on next-generation switchgear, circuit protection, transformers, digital substations, power distribution equipment and energy storage integration.

ETN is also investing in software, power electronics and intelligent electrical systems that help utilities and commercial customers improve grid reliability while supporting renewable energy, electric vehicles and AI-driven data centers. Eaton's long-term investment strategy is centered on the structural growth opportunities created by electrification and digitalization.

ETN's R&D pipeline increasingly targets connected and software-enabled electrical infrastructure. The company is expanding development of digital monitoring platforms, predictive maintenance tools, microgrid technologies and energy management solutions that improve efficiency and resilience across power networks.

GEV Price Performance, Valuation and EstimatesShares of GE Vernova have surged in double digits (% wise) so far this year, easily surpassing the Zacks Alternate Energy – Other industry’s growth.

YTD Price Comparison

Image Source: Zacks Investment Research

GE Vernova trades at a forward 12-month price-to-sales (P/S) ratio of 5.74, above the industry’s reading.

Image Source: Zacks Investment Research

See how the Zacks Consensus Estimate for GEV’s earnings has been revised over the past 30 days.

Image Source: Zacks Investment Research

GEV’s Zacks RankGEV currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Apple AAPL stock fell around 1% on Tuesday after KeyBanc Capital Markets downgraded the iPhone maker, citing slowing hardware demand, weaker growth expectations, and valuation concerns despite the stock's strong performance over the past year.

Shares declined about 1.7% to $311.91 on Tuesday after analyst Brandon Nispel cut his rating on the stock to Underweight from Sector Weight.

He also assigned a $250 price target, implying roughly 21% downside from Monday's closing price.

The downgrade comes as Wall Street remains broadly positive on Apple, with several analysts maintaining bullish ratings and higher price targets.

The stock recovered some of the losses and was trading down 0.46% at the time of writing.

In a research note, Nispel said KeyBanc's spending checks pointed to "another month of below-trend growth" for Apple in June, adding that growth was beginning to fade after receiving a boost in 2025.

The analyst highlighted sluggish iPhone sales, weaker demand for Macs and iPads, and the potential impact those trends could have on Apple's higher-margin services business, including iCloud and Apple Music.

Nispel also argued that the company's valuation leaves little room for disappointment.

He wrote that the combination of slowing hardware demand and softer services growth would make the stock appear "too expensive."

Apple currently trades at about 36 times expected fiscal 2026 earnings, above both its five-year historical average and the broader S&P 500.

According to Nispel's analysis, June indexed hardware spending fell 2% month over month, compared with a three-year average growth rate of 9%, suggesting US demand has normalized following last year's tariff-driven surge.

He also expects slower iPhone production, weaker upgrade activity in the United States, and reduced device subsidies to weigh on future growth.

In his view, consensus forecasts for iPhone, Mac, iPad, Wearables and Services through 2027 are too optimistic and could require downward revisions.

Despite the downgrade, Apple continues to enjoy broad support from analysts.

The stock has gained 1.4% over the past week, 6.4% over the past month and 51% over the past year.

Wall Street currently maintains a Moderate Buy consensus, with an average 12-month price target of $327.20.

Morgan Stanley analyst Erik Woodring reiterated his Buy rating and maintained a $360 price target.

Woodring said Apple's pricing power remains a key advantage, arguing that demand for major products remains resilient even as prices increase.

He said, "demand for key devices such as the iPhone, Mac, and iPad is relatively insensitive to price changes, allowing Apple to raise prices without materially weakening unit demand, while also protecting margins as component costs rise."

He also expects higher iPhone pricing and new AI-focused products to support earnings growth over the coming years.

Price increases and future growth remain in focusApple announced in late June that it would increase prices for MacBooks and iPads as memory component costs continue to rise.

Woodring believes upcoming iPhone price increases, combined with Apple's product roadmap featuring new form factors and AI-enhanced user experiences, could lift both near-term and fiscal 2027 earnings per share.

Evercore ISI analyst Amit Daryanani also maintained a Buy rating on Apple and set a $365 price target.

Item 1 of 2 A woman walks by the Meta Lab in Los Angeles, California, U.S., May 20, 2026. REUTERS/Daniel Cole

[1/2]A woman walks by the Meta Lab in Los Angeles, California, U.S., May 20, 2026. REUTERS/Daniel Cole Purchase Licensing Rights, opens new tab

SummaryCompaniesThe 26 plaintiffs seek a court order blocking layoffs set to start on July 22Meta said the claims lack merit and people made workforce decisions, not AILawsuit says Meta used ​productivity scores and AI token usage in layoff selectionsJuly 14 (Reuters) - Twenty-six employees of Meta ‌Platforms (META.O), opens new tab have filed a novel lawsuit accusing the tech giant of using AI-powered software that disproportionately targeted people with disabilities or who took medical leave in selecting workers for mass layoffs.

The lawsuit, filed in Oakland, California, federal court late Monday, says that the company ​relied on factors such as productivity and AI token usage when it slashed thousands of jobs earlier this ​year, disadvantaging people who missed work because of medical conditions or to care for family ⁠members.

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The plaintiffs, who were notified in May that their jobs would be eliminated starting on July 22, ​are seeking a preliminary ruling from the court blocking Meta from completing the layoffs while they pursue their ​claims in private arbitration. The workers say Meta's agreements require employees to arbitrate workplace disputes individually, but do not apply to requests for temporary relief.

A Meta spokesperson on Tuesday said the claims lack merit.

"Workforce management and organizational decisions were and are made by ​people, not AI," the spokesperson said.

The lawsuit appears to be the first against a major U.S. company ​to challenge the alleged use of AI in conducting layoffs.

Meta laid off 10% of its global workforce in May, or nearly ‌8,000 ⁠people, and was planning more job cuts later this year, Reuters had reported. CEO Mark Zuckerberg has since said that he does not expect any more company-wide layoffs this year.

The changes are part of a far-reaching overhaul as the company increases its AI investments and centers AI agents in both its product offerings and its ​approach to work internally.

​The 26 plaintiffs, who ⁠filed the lawsuit anonymously, are accusing Meta of violating federal and state laws that ban discrimination or retaliation against workers who have disabilities, take medical leave or are ​pregnant. They also claim that Meta failed to test its AI systems for ​bias in ⁠violation of recently adopted California and New York City laws.

The plaintiffs come from six states, including California and New York, and the District of Columbia.

According to the complaint, Meta used a number of internal AI-assisted systems to score and rank employees ⁠on a ​termination list. Those included "Metamate," a large language model assistant; an employee-trained "second ​brain" that tracked workers' communications and documents; and a productivity score drawn from scanning keystrokes, screen content, emails and browser history, according ​to the lawsuit.

Reporting by Daniel Wiessner in Albany, New York; Editing by Chizu Nomiyama, Alexia Garamfalvi and Mark Porter

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Dan Wiessner (@danwiessner) reports on labor and employment and immigration law, including litigation and policy making. He can be reached at [email protected].

When you think about Berkshire Hathaway (BRKA 0.18%) (BRKB 0.38%), it's nearly impossible not to recall the long stewardship of Warren Buffett, the legendary investor who led the conglomerate for six decades. Buffett was famed for his buy-and-hold value investing style, taking large positions in blue chip companies like Bank of America, Coca-Cola, and American Express.

Now that Buffett is in his well-earned retirement, Berkshire has new leadership under Greg Abel. And the CEO has wasted no time shaking things up, closing 16 positions in Berkshire's portfolio and trimming the number of companies Berkshire invests in to 29. He also loaded up on Alphabet (GOOG +0.70%) (GOOGL +0.83%), buying 36.4 million shares in the first quarter, and then signing off on a private placement to buy another $10 billion worth of shares.

Nearly 30% of Berkshire's legendary value-oriented portfolio is now tied up in two artificial intelligence stocks: Alphabet and Apple (AAPL 1.33%). And while a 30% allocation to two AI stocks may seem aggressive -- especially for a company like Berkshire Hathaway -- its portfolio is actually more balanced than it has been in years.

Here's why.

Image source: Getty Images.

Berkshire's history with AI stocks It wasn't long ago that Berkshire Hathaway's portfolio was heavily overweighted with Apple. In mid-2023, Berkshire held 914,560,382 shares of Apple stock, accounting for about half of the company's total investment portfolio. But Buffett and Berkshire Hathaway started trimming the company's stake. "I'm very happy to have it be our largest holding," Buffett said in a 2026 interview with CNBC. "I was not happy to have it be as large as almost everything else combined."

Today, Berkshire still holds a sizable position in Apple, accounting for 20.6% of its $348.2 billion investment portfolio. Apple is still the largest holding, although it's not as outsize as it used to be. And Alphabet has cracked the top five, with its Class A shares accounting for 7% of Berkshire's portfolio and Class C shares totaling 1.8%.

Berkshire Hathaway's Top 5 Holdings

Number of Shares

Percentage of Berkshire Portfolio

Apple

227,917,808

20.6%

American Express

151,610,000

15.3%

Coca-Cola

400,000,000

9.6%

Alphabet

66,406,793 (combined Class A and Class C shares)

8.8%

Bank of America

513,624,165

8.8%

Data source: CNBC. 

Diversification matters It's important to understand that Berkshire isn't giving up on AI stocks -- it's redeploying capital from Apple and positioning its closed positions in Alphabet. Rather than making just one sizable bet on a top AI stock, Abel has Berkshire significantly invested in two AI stocks. And they come with very different revenue streams.

Apple makes most of its money from hardware, including its iPhone, Mac computers, iPad, and wearables. And its Services segment, which includes the Apple App Store, is a serious money-maker, generating about $31 billion in revenue in the most recent quarter and gross margins of 76%.

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Meanwhile, Alphabet has a powerful internet-based advertising engine that generated $77.25 billion in revenue in the first quarter, and a fast-growing cloud computing division that contributed $20 billion in revenue and jumped 63% year over year.

A 30% weighting in two top AI stocks is much better than a 50% weighting in one. Berkshire's portfolio remains heavily invested in AI, but is less dependent on the success of a single company.

American Express is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Patrick Sanders has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, American Express, Apple, and Berkshire Hathaway. The Motley Fool has a disclosure policy.

The stock outperformed the broader market, with the Nasdaq gaining 1.35% and the S&P 500 rising 0.42%. Technology was the day’s best-performing sector.

Analysts Raise Price ForecastsKeyBanc analyst John Vinh maintained an Overweight rating and raised his price forecast on AMD to $725 from $530.

The firm said AMD has secured additional server CPU capacity, supporting expected unit growth of 15% to 20% this year and more than 50% in 2027.

It also expects the MI455 AI GPUs and Helios platform to ramp in the second half of 2026, forecasting AI GPU revenue of $16.8 billion in 2026 and $48.5 billion in 2027.

KeyBanc added that AMD’s CoWoS advanced packaging supply has increased from 80,000 to 90,000 units this year and could reach 130,000 next year, easing AI supply constraints.

Bank of America analyst Vivek Arya also raised his price forecast to $620 from $550. TD Cowen analyst Joshua Buchalter increased his forecast to $675 on Monday.

Hedge Funds Turn Bullish On Chip StocksThe rally also followed renewed institutional buying.

According to Goldman Sachs data shared by The Kobeissi Letter, hedge funds bought U.S. semiconductor stocks last week at the fastest pace in at least three-and-a-half years.

The buying followed two weeks of heavy selling and suggested investors viewed the recent pullback in chip stocks as largely complete. Semiconductor companies now account for about 10% of total hedge fund exposure, roughly double last year’s level but still below the nearly 14% peak reached in May.

AMD Stock Price Activity: Advanced Micro Devices shares were up 4.15% at $556.58 at the time of publication on Tuesday, according to Benzinga Pro data.

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Key Takeaways NVIDIA is widening its AI moat through partnerships spanning cloud, networking, autos and telecom.NVDA's Q1'27 revenues surged 85% to $81.6 billion, led by 92% data center end-market growth.NVIDIA's Open-source tools and an integrated platform make switching harder as AMD and Broadcom invest in AI. NVIDIA Corporation (NVDA - Free Report) continues to widen its competitive advantage by building strategic partnerships across cloud computing, networking, automotive and telecommunications. Rather than relying only on hardware sales, the company is creating an AI ecosystem that combines chips, networking, software and services. This integrated strategy could help NVIDIA stay ahead as competition in AI infrastructure intensifies.

The strength of these partnerships is reflected in NVIDIA’s financial performance. In the first quarter of fiscal 2027, revenues surged 85% year over year to a record $81.6 billion, while Data Center revenues jumped 92% to $75.2 billion. Management also expects second-quarter revenues of about $91 billion, signaling continued strong demand for its AI platforms.

NVIDIA has expanded its partnership with Google Cloud to deploy Vera Rubin-powered AI instances and support advanced AI models on Blackwell systems. It has also teamed up with Marvell through NVLink Fusion technology to accelerate custom AI infrastructure. Partnerships with Coherent, Corning and Lumentum aim to improve optical networking for next-generation AI data centers, while collaborations with Hyundai, Kia and Uber strengthen NVIDIA’s presence in autonomous driving.

Another advantage is NVIDIA’s growing software ecosystem. Open-source platforms such as Dynamo, Agent Toolkit and Nemotron encourage developers and enterprises to build AI applications on NVIDIA hardware, making it harder for customers to switch to competing platforms.

Although rivals like Advanced Micro Devices, Inc. (AMD - Free Report) and Broadcom Inc. (AVGO - Free Report) are investing aggressively in AI, NVIDIA’s broad partner network and integrated platform create a strong competitive moat. As enterprise AI adoption accelerates, these partnerships should help the company maintain its technology leadership and support long-term revenue growth. The Zacks Consensus Estimate for fiscal 2027 revenues is currently pegged at $385.5 billion, indicating a robust year-over-year increase of 78.5%.

NVIDIA’s Rivals Are Also Expanding Their AI EcosystemsWhile NVIDIA has built the industry's broadest AI partner network, Advanced Micro Devices and Broadcom are also deepening collaborations to strengthen their AI businesses.

Advanced Micro Devices is expanding partnerships with major cloud providers, enterprise customers and AI software developers to accelerate adoption of its Instinct GPUs and EPYC processors. In the first quarter of 2026, AMD's Data Center segment revenues surged 57% year over year to $5.78 billion, driven by strong demand for AI accelerators and server CPUs. Advanced Micro Devices has also strengthened its open-source ROCm software platform to attract developers and improve compatibility with leading AI models. These efforts are helping AMD narrow the gap with NVIDIA in enterprise AI deployments.

Broadcom is taking a different approach by partnering closely with hyperscale cloud companies to develop custom AI accelerators and high-speed networking solutions. In its latest reported financial results for the second quarter of fiscal 2026, AI semiconductor revenues climbed 143% year over year to $10.8 billion. Broadcom's Ethernet networking products and custom AI chips are becoming increasingly important as cloud providers build large AI clusters.

Although both companies are making solid progress, NVIDIA still benefits from a broader ecosystem that spans chips, networking, software and AI frameworks. This integrated platform continues to give it a competitive edge as AI adoption expands across industries.

NVIDIA’s Price Performance, Valuation and EstimatesShares of NVIDIA have risen around 9.2% year to date, underperforming the Zacks Computer and Technology sector’s gain of 17%.

NVIDIA YTD Price Return Performance
Image Source: Zacks Investment Research

From a valuation standpoint, NVDA trades at a forward price-to-earnings ratio of 19.32, below the sector’s average of 24.78.

NVIDIA Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for NVIDIA’s fiscal 2027 and 2028 earnings implies a year-over-year increase of approximately 91% and 35%, respectively. Estimates for fiscal 2027 have been revised upward over the past seven days, while estimates for fiscal 2028 have been raised over the past 30 days.

Image Source: Zacks Investment Research

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

Key Takeaways Visa partnered with ACE Money Transfer to support faster, more secure account funding for remittances.V is expanding its reach across global remittance corridors through ACE's international network.Visa reported 12% year-over-year cross-border volume growth in Q2 FY26. Visa Inc. (V - Free Report) is strengthening its cross-border payments business through a strategic collaboration with ACE Money Transfer. The partnership will support V's Account Funding Transactions (AFTs), enabling customers to fund international money transfers using eligible payment cards more efficiently. By simplifying the funding process, the collaboration aims to deliver faster, more secure and reliable remittance services while enhancing the overall customer experience.

The agreement expands Visa's footprint in the growing digital remittance market, where consumers increasingly prefer quick and seamless international money transfers. ACE Money Transfer operates across multiple sending countries and more than 100 receiving destinations, giving Visa greater exposure to key remittance corridors. As digital payment adoption accelerates worldwide, the partnership could help drive higher transaction volumes across V's global network.

The collaboration also aligns with Visa's long-term strategy of expanding Visa Direct and strengthening its money movement capabilities. The company continues to invest in real-time payments, cross-border infrastructure and digital payment innovation to support consumers, businesses and financial institutions. Adding AFT capabilities to ACE's platform reinforces V's role in facilitating efficient account-to-account and person-to-person payments beyond traditional card transactions.

The latest collaboration reflects V's continued focus on expanding its payments ecosystem through partnerships that improve speed, security and convenience. In the second quarter of fiscal 2026, the company’s total cross-border volume rose 12% year over year. As demand for digital remittances continues to rise globally, strengthening payment infrastructure and broadening access to trusted money movement solutions could support Visa’s long-term growth across the cross-border payments market.

How Are Competitors Faring?Some of V’s competitors in the payments space include Mastercard Incorporated (MA - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) .

Mastercard continues to expand its cross-border payments capabilities through Mastercard Move, enabling faster and more transparent domestic and international money transfers. MA is also strengthening its remittance ecosystem by partnering with financial institutions, fintechs and digital wallet providers to simplify global money movement.

PayPal is broadening its cross-border payments business by enhancing Xoom and its global wallet ecosystem, making international transfers faster and more accessible. PYPL is also integrating blockchain and stablecoin capabilities to improve settlement efficiency and support the evolving digital payments landscape.

Visa’s Price Performance, Valuation & EstimatesOver the past year, shares of Visa have risen 3% against the industry’s 15.9% fall.

Image Source: Zacks Investment Research

From a valuation standpoint, V trades at a forward price-to-earnings ratio of 24.74, well above the industry average of 17.09. V carries a Value Score of C.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Visa’s fiscal 2026 earnings implies a 14.2% jump from the year-ago period.

Image Source: Zacks Investment Research

Visa stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Jamie Dimon, Chairman and CEO, JPMorganChase, speaks during the Reagan National Defense Forum at the Ronald Reagan Presidential Library in Simi Valley, California, U.S. December 6, 2025. ... Purchase Licensing Rights, opens new tab Read more

CompaniesJuly 14 (Reuters) - JPMorgan's (JPM.N), opens new tab Jamie Dimon said on Tuesday that the timetable for his departure as CEO remained unchanged, in ​response to an analyst's question about the bank's succession plan following a recent executive shuffle.

The bank's ‌plan to name Dimon's successor has been in focus after it appointed insiders Doug Petno and Troy Rohrbaugh as co-presidents last month and announced the retirement of senior executive Marianne Lake, who was widely seen as a top contender for the CEO role.

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"The timing (for succession) is ​essentially the same, obviously completely up to the board," Dimon told analysts on a post-earnings conference call. "The board ​made a decision to go ahead with making two co-presidents, which will prepare them to ⁠do far more at the company."

Reuters reported last month that Dimon planned to remain CEO for at least three ​more years.

Analysts viewed the promotions of Petno and Rohrbaugh as a step toward clarifying JPMorgan's succession plan, narrowing the list ​of executives seen as potential successors to Dimon after more than two decades as CEO.

"When she (Lake) knew about the plan, she decided she'd rather retire than stay here. That's it, no mystery," Dimon said.

THE CEO WISH LISTWhen asked about the qualities he prefers to see ​in his successor, Dimon drew a long list: "You want to be good at people. You want to be analytical. You ​want to be detailed. You want to be a culture carrier. You want to have heart. You want to have grit.

"You want ‌to ⁠have soul. You want to have a work ethic. You want to be able to travel. You want to be able to walk in operating centers and deal with CEOs and prime ministers, it's all of that."

In the latest executive-level shuffle, Rohrbaugh took over as CEO of the consumer and community banking business from Lake. He was previously co-CEO with ​Petno of the commercial and ​investment banking unit, which ⁠will now be headed solely by Petno.

"I do think it's very important that people have experience across the company," Dimon said, in response to Wells Fargo analyst Mike Mayo's comment on Rohrbaugh spending ​much of his career as a trader before taking over the new role.

He added ​that when a big ⁠bank is taken over by someone only from the investment bank, the rest of the franchise can suffer.

Rohrbaugh is seen as having the lead internally, Reuters has reported, citing sources.

JPMorgan has awarded Petno and Rohrbaugh retention bonuses of $30 million each, while COO Jennifer ⁠Piepszak and ​asset and wealth management CEO Mary Erdoes will each get $20 million.

Dimon's ​remarks followed a bumper quarter for JPMorgan, which posted record quarterly profit as investment banking fees and stock trading surged. The stock was last up 2% in ​late-morning trading.

Reporting by Manya Saini in Bengaluru and Nupur Anand in New York; Editing by Joyjeet Das and Anil D'Silva

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Manya covers the most influential U.S. financial institutions, from Wall Street’s largest banks and card networks to leading asset managers and fintech companies. She also reports on late-stage venture capital fundraises, initial public offerings on U.S. exchanges and regulatory developments shaping the cryptocurrency industry. Her work appears across the finance, markets, business and future of money sections of the Reuters website. She holds a bachelor’s degree in political science from the University of Delhi and a master’s in journalism from the Symbiosis Institute of Media and Communication.

Nupur Anand is a U.S. banking correspondent at Reuters in New York. She focuses on JPMorgan Chase, Wells Fargo and regional banks. Anand covered banking and finance in India for more than a decade, chronicling the collapse of major lenders and turmoil at digital banks and cryptocurrencies. She has a degree in English literature from Delhi University and a postgraduate diploma in journalism from the Indian Institute of Journalism & New Media in Bangalore. Anand is also an award-winning fiction writer.

Key Takeaways Starbucks' Channel Development revenues grew 39% YoY in Q2, led by higher Global Coffee Alliance sales.SBUX's multi-serve Refreshers concentrate posted strong early demand and repeat purchases.Starbucks expanded its packaged portfolio with new ready-to-drink coffee and protein beverages. Starbucks Corporation (SBUX - Free Report) exited the second quarter of fiscal 2026 with stronger momentum in Channel Development, highlighting a revenue opportunity beyond its company-operated store base. In the fiscal second quarter, Channel Development net revenues increased 39% year over year, supported by higher revenues from the Global Coffee Alliance. The growth adds another source of revenue momentum as Starbucks builds across company-operated stores, licensed stores and consumer-packaged platforms.

The expansion is notable because it gives Starbucks an additional revenue path beyond company-operated stores, which remain central to the broader turnaround. Channel Development extends Starbucks’ presence across packaged coffee, ready-to-drink products and consumer-packaged platforms.

Product activity supported the segment’s momentum in the fiscal second quarter. Starbucks cited strong early performance for its multi-serve Refreshers concentrate in North America, calling it the company’s largest CPG launch in more than a decade. SBUX also noted strong customer reception and repeat purchase behavior for the product, reinforcing the relevance of its packaged-beverage innovation.

The ready-to-drink portfolio adds another growth layer. Starbucks launched coffee and protein ready-to-drink beverages at the end of the fiscal second quarter, complementing its growing protein platform in coffeehouses. Alongside the Global Coffee Alliance and Refreshers concentrate, these launches broaden the company’s packaged-beverage portfolio.

Overall, company-operated stores remain central to Starbucks’ broader recovery, but Channel Development is becoming a more visible incremental revenue opportunity. Continued momentum in the Global Coffee Alliance, early traction in CPG Refreshers and new ready-to-drink coffee and protein launches could make the segment a more meaningful contributor to Starbucks’ broader revenue growth over time.

SBUX’s Price Performance, Valuation & EstimatesShares of Starbucks have gained 19.2% in the past year against the industry’s 3.5% fall. In the same time frame, other industry players like McDonald's Corporation (MCD - Free Report) have lost 6.8%, while Dutch Bros Inc. (BROS - Free Report) has gained 4.1%.

SBUX’s One-Year Price Performance
Image Source: Zacks Investment Research

From a valuation standpoint, SBUX trades at a forward price-to-sales (P/S) multiple of 3.08, below the industry’s average of 3.37. McDonald's and Dutch Bros have P/S ratios of 6.62 and 4.98, respectively.

SBUX’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for SBUX’s fiscal 2026 earnings per share (EPS) has remained unchanged at $2.40 in the past 30 days.

EPS Trend of SBUX Stock
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for SBUX's fiscal 2026 EPS suggests a 12.7% year-over-year improvement. Conversely, industry players like McDonald's and Dutch Bros are likely to witness growth of 5.8% and 22.4%, respectively, year over year in 2026 earnings.

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

A high-yielding dividend may sound great for investors, but it can be a double-edged sword: when it's too high, investors start to worry about its safety. That's a big part of the reason why Pfizer (PFE 0.90%), whose 7.1% yield is well above the S&P 500 average of just 1.1%, isn't able to draw in investors; many are worried the dividend is due for a cut.

Not only is Pfizer's dividend far above average, but it is now also the highest yield in the entire S&P 500. Is this a warning sign for investors that the dividend may be cut in the near future, or could Pfizer prove to be an underrated income stock to buy right now?

Image source: Getty Images.

Pfizer's yield has been volatile in recent years A high yield can be concerning, but that alone doesn't make it risky. Similarly, just because a yield is low doesn't mean it's sustainable, either. The yield can fluctuate significantly because it is tied to the share price. When a stock is rising, its yield falls because it costs more to secure the same level of dividend income. And when it falls, as has been the case with Pfizer's stock in recent years, the yield can rise significantly.

PFE Dividend Yield data by YCharts

If Pfizer posts strong earnings numbers in its upcoming quarterly results, issues promising guidance, or there's positive news around one of its drugs, its share price could take off, and just like that, the yield could come down.

There is, however, some risk with the dividend because Pfizer's earnings haven't been all that strong in recent quarters. During the first three months of the year, the company's diluted per-share profit was $0.47, not much higher than its quarterly dividend rate -- $0.43. There's not much of a buffer there, and investors may also be concerned about its long-term future, as the pharma company deals with patent cliffs and navigates a challenging course ahead, which could see its sales (and profits) drop in the future.

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Is Pfizer's stock worth buying? Pfizer's dividend may look shaky, but the good news is the company's earnings aren't in bad shape, and it's in the midst of restructuring and cutting costs, which should give it more breathing room in the future. It has also acquired companies that could unlock more growth opportunities down the road.

While this may not be the type of stock investors can simply buy and forget, Pfizer may be a good option for income investors willing to monitor it closely. As of now, the dividend still looks safe, and this could be an underrated option to consider, especially given its low valuation, as the stock trades at just eight times its estimated future earnings, based on analyst expectations.