Track market-moving stories before they get noisy

BitMEX Platform Token Plunges Over 99% Following Shutdown Announcement

Market data shows that, likely influenced by BitMEX’s shutdown announcement, its exchange platform token (issued in 2022) plummeted 99.69%, and at one point experienced liquidity issues. Earlier news reported that crypto exchange BitMEX announced it will close on September 23 and has stopped new user registrations.

Vanar Announces Migration to Base, Total Supply of VANRY Token Increases to 10 Billion

Vanar issued an announcement stating that it will no longer operate purely as a Layer 1 blockchain, but instead focus on building an AI Organizations economy and will migrate to the Base chain. In terms of tokens, existing VANRY holders will migrate at a 1:1 ratio, with their holdings remaining unchanged. However, the total supply will increase from 2.4 billion to 10 billion tokens to support AI Organizations ecosystem incentives, developers, partners, and infrastructure development. During the migration phase, 62% of the total supply remains locked. The newly added portion has a cliff period and is subject to a 60-month vesting schedule, meaning it will take five years for the full allocation to be distributed. After the cliff period, the monthly distribution will be approximately 1% of the total portion. Additionally, Vanar will end its validator staking mechanism on Vanarchain and integrate its infrastructure onto the Base network.

Changxin Technology Shares to List on Shanghai Stock Exchange STAR Market on July 27

Changxin Technology Company’s shares will be listed on the Shanghai Stock Exchange’s STAR Market on July 27, 2026.

Citigroup Lowers Coinbase Target Price from $400 to $235

Citigroup has lowered its target price for Coinbase (COIN) from $400 per share to $235.

Binance Alpha Launches Third Round of Swarm Network (TRUTH) Airdrop, 256 Points Can Claim 2,501 Tokens

Binance Alpha has launched the third round of Swarm Network (TRUTH) airdrop distribution. Users holding at least 256 Binance Alpha points can claim 2,501 TRUTH token airdrops on a first-come, first-served basis. If the reward pool is not fully allocated, the point threshold will automatically decrease by 5 points every 5 minutes. Claiming the airdrop will consume 15 Binance Alpha points. Users must confirm the claim on the Alpha Events page within 24 hours; otherwise, it will be considered a forfeiture of the airdrop.

Abu Dhabi Sovereign Wealth Fund Partners with Coinbase to Launch Tokenized Private Equity Fund

Mubadala Capital, an Abu Dhabi sovereign wealth fund, announced a partnership with Coinbase and infrastructure provider KAIO to launch a blockchain-native version of its long-term private equity fund, issued to qualified investors in the form of compliant tokens. Coinbase will use its Base blockchain as one of the networks operating the tokens and will purchase the tokens itself, holding them on its corporate balance sheet. This marks the first time a U.S.-listed company has used regulated tokenized assets for native on-chain treasury management on its U.S. stock balance sheet.

Michael Saylor Announces Launch of Bitcoin Security Consortium, Commits $15 Million Over Three Years

Michael Saylor tweeted that he officially launched the Bitcoin Security Consortium. The consortium is dedicated to supporting the long-term security and resilience of the Bitcoin network and has pledged a total of $15 million in funding over the next three years. Founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets®, Galaxy, and Strategy, covering various sectors of the Bitcoin ecosystem, including bitcoin holders, custodians, exchanges, infrastructure providers, payment providers, and asset managers. The daily operations of the consortium are coordinated by Mike Schmidt, Executive Director of Brink. Brink is a 501(c)(3) nonprofit organization dedicated to funding and supporting Bitcoin open-source developers. Schmidt himself is participating on a volunteer basis.

Data: Cumulative On-Chain Perpetual Swap Trading Volume Surpasses $15 Trillion

Data disclosed by CryptoRank shows that cumulative on-chain perpetual swap trading volume has surpassed $15 trillion. The most significant growth occurred in 2024-2025 (up 200%), driven primarily by the development and growth of Hyperliquid and other perpetual DEXs, as well as the rapid expansion of the on-chain perpetual swap market. Since January 2026, Hyperliquid has maintained its market-leading position, accounting for 30% of total trading volume.

U.S. Initial Jobless Claims Last Week Were 187,000, Below Market Expectations

U.S. initial jobless claims for last week came in at 187,000, compared to an estimated 211,000 and a previous figure of 208,000.

UN Report: Southeast Asian Cryptocurrency Scam Losses Could Exceed $100 Billion, Comparable to Some Countries’ GDP

The United Nations Office on Drugs and Crime (UNODC) stated in a report that the scam industry in Southeast Asia has solidified into a single, interconnected criminal economy, with losses now comparable to the output of some nations. It is estimated that in 2025 alone, losses from scam crimes in East Asia, Southeast Asia, Australia, and New Zealand will reach $88.3 billion to $114.1 billion, a figure that "exceeds the GDP of several countries in the region." The majority of these are cryptocurrency investment scams, most of which are conducted in massive criminal compounds. The agency urged police in Southeast Asia to receive specialized cryptocurrency training to trace and seize illicit funds, warning that disruption-focused strategies are not working.

Bitcoin Treasury Company Empery Digital Invests $20 Million in Cardinal Data Power, Holds Approximately 8% Equity

Empery Digital Inc. (Nasdaq: EMPD), which employs a bitcoin treasury management strategy, announced that it completed a $20 million preferred stock investment in Cardinal Data Power, Inc. ("CDP") on July 20, holding approximately 8% equity. This investment is part of CDP's approximately $70 million Series A funding round, aimed at supporting its first data center campus project in West Texas. The Series A round was led by Hood River Capital Management. CDP is a private developer affiliated with Hunt Properties, specializing in powered data center campus development.

Kaito AI: Has Reached a Data Cooperation Agreement with X Company to Support Various Application Scenarios

Singapore-based crypto data company Kaito AI tweeted that it has reached a data cooperation agreement with X company, aimed at supporting multiple application scenarios.

LayerZero and Keeta Partner to Launch New Tokenized Commercial Bank Coin

LayerZero and Keeta have reached a partnership to enable interoperability of tokenized commercial bank funds across Ethereum, Solana, Base, and Keeta networks. According to the announcement, the issuance centers on Keeta Stablecoin, a new type of tokenized commercial bank money funded by commercial bank deposits and traded through the Bivo platform. Bivo is a US-licensed fintech platform with access to the US payment system and a network of partner banks. Unlike traditional stablecoins that rely on multiple types of reserves, Keeta Stablecoin represents actual commercial bank deposits and allows the issuing institution to retain full contract permissions at every stage through LayerZero's Omnichain Fungible Token standard. LayerZero stated that the Keeta Stablecoin will be issued in USD later this month, following earlier launches of currencies including Euro, Japanese Yen, Renminbi, British Pound, Canadian Dollar, Mexican Peso, UAE Dirham, and Hong Kong Dollar. The statement said Keeta is a Visa Direct payment network partner, is building blockchain infrastructure for regulated financial institutions, and recorded 11.2 million verified transactions per second in a public stress test with the Google Spanner engineering team.

2,210 BTC Transferred from Anonymous Wallet to Kraken, Worth Approximately $143.8 Million

2,210 BTC ($143,824,955) were transferred from an unknown wallet to Kraken, worth approximately $143.8 million.

Sky Protocol Q2 Revenue Exceeds $100 Million, Up 10.5% YoY

The Sky Frontier Foundation released its Sky ecosystem report for Q2 2026. Sky Protocol achieved profitability for the fifth consecutive quarter, with total protocol revenue reaching $107.35 million, up 10.5% year-over-year; net protocol revenue grew even faster to $40.09 million, up 25.1% year-over-year, bringing total revenue over the past 12 months to $159.63 million. Net protocol surplus was $33.29 million, positive for the fifth consecutive quarter. Protocol collateral grew 45.5% year-over-year to $12.32 billion, and sUSDS reached $5.52 billion at the end of the quarter, up 149% year-over-year. Sky Reserve retained $29.87 million in Q2, the largest quarterly contribution since the recapitalization on March 14, bringing its quarter-end reserves to $82.4 million.

Arthur Hayes Responds to BitMEX Shutdown: Incredibly Proud of Everything We Built Together

In response to the BitMEX shutdown, former BitMEX co-founder Arthur Hayes tweeted his thanks to partners, BitMEX employees, and customers, calling it a wonderful journey and expressing pride in what was built. "Thank you to my partners, the BitMEX employees, and most importantly: our customers. It's been a hell of a ride. We created something extraordinary together. I'm incredibly proud of everything we built together, and we get to shut it down responsibly, on our own terms. Satoshi lives."

Ondo Finance's Oasis Pro Markets Receives FINRA Authorization to Offer Tokenized Stocks and Funds to US Investors

Ondo Finance announced that its SEC-registered broker-dealer subsidiary Oasis Pro Markets has received authorization from US regulators to launch regulated tokenized securities markets and services in the US under the oversight of the SEC and FINRA. Oasis Pro Markets' authorization allows it to conduct tokenized securities trading in the US, regulated by the SEC and FINRA. The authorization covers activities including over-the-counter trading, underwriting primary market issuances, private placements, and other activities. Additionally, Oasis Pro Markets will operate a compliant platform for US issuers to conduct primary market issuances of tokenized securities and for US institutional and retail investors to trade these tokenized securities on the secondary market. Under this framework, Oasis Pro Markets can provide US investors with market access to NMS stocks, ETFs, mutual funds and index fund interests, and securities issued through IPOs and traded on the secondary market. Settlement of these assets can be in fiat currency or supported stablecoins, including settlement directly between blockchain-based wallets.

Uniswap v4 Launches Permissioned Pools

Uniswap has launched Permissioned Pools, a new hook standard on Uniswap v4 that enables the trading of permissioned assets through automated market makers, with compliance enforced directly on-chain. Permissioned Pools were developed in collaboration with on-chain regulated asset teams. The first partners include Superstate, Securitize, and Dowgo.

US SEC to Host Roundtable on September 17 to Discuss Transition to 24-Hour Stock Trading

The US Securities and Exchange Commission (SEC) will host a roundtable on September 17 to explore matters related to the transition of the US stock market to 24-hour trading, including preparations to support overnight trading, 24-hour market operations and resilience, and the opportunities and challenges of expansion. The roundtable will be open to the public and livestreamed on the SEC website. The agenda and speaker information for the roundtable will be announced ahead of the event.

Tom Lee: The AI "Wealth Uncanny Valley" Is Approaching, Future AI Agents Could Generate More Income Than Individuals

Tom Lee, Chairman of Ethereum treasury company Bitmine, shared an interview on X platform saying that artificial intelligence is approaching what he calls the "uncanny valley of wealth," and at some point in the future, the income generated by an individual's AI agents may exceed their own labor income. Tom Lee believes that when this moment arrives, people may begin to wonder whether "I am working for AI or AI is working for me." In the future, AI agents may take over bank accounts, replace some jobs, and even build independent financial systems, and he acknowledged that this trend "may make people fearful of the future."

SemiAnalysis: ASML Raises FY2026 Guidance Twice, Signaling Further Strengthening of Semiconductor Equipment Upcycle

Research firm SemiAnalysis posted on X that ASML raised its FY2026 guidance for the second time in three months during its Q2 earnings report, which it believes signals a further strengthening of a new upcycle in the semiconductor equipment industry. SemiAnalysis pointed out that positive signals include order visibility extending to 2028, management proactively planning capacity expansion, mulling price increases for similar products, re-accelerating shipments of DUV immersion lithography systems, and continued growth in the service business. Based on these factors, the firm believes there is still upside to current market revenue expectations for ASML and expects the company to further raise its long-term guidance in the future.

Specter: A PancakeSwap LP Attacked via Malicious EIP-7702 Signature, Losing Approximately $2.96 Million

A long-inactive PancakeSwap liquidity provider (LP) lost approximately $2.96 million after signing a malicious EIP-7702 authorization. It is reported that the attacker removed about $1.48 million in BSC-USD and $1.48 million in BUSD liquidity provided by the victim, and swapped the BUSD for ETH. Currently, the attacker has deposited about $1.46 million into Tornado Cash, with the remaining approximately $1.48 million USDT still held in the attacker's address.

BitMEX Closure Announcement Triggers 95% BMEX Crash, Bubblemaps Says 75% of Token Allocation Never Circulated On-Chain

Blockchain data analytics platform Bubblemaps stated that after BitMEX announced its closure, the price of its platform token BMEX plunged sharply, now down roughly 95% from its previous levels. According to BitMEX’s publicly disclosed tokenomics, about 75% of the total BMEX supply was originally earmarked for employee incentives, ecosystem development, and long-term reserves, but these tokens were never distributed on-chain. Data shows that in 2021, around 92% of the BMEX supply was locked in vesting contracts, with the remaining 8% allocated at the token launch, including: 5% for airdrops; 3% for product and liquidity support. Each allocation category previously corresponded to an independent address designed to receive future unlocked tokens. To date, however, only one claim has been recorded: on November 2, 2022, the product and liquidity address claimed approximately 63.75 million BMEX, while the employee incentive, ecosystem growth, and long-term reserve allocation addresses have not seen any token claims. Bubblemaps noted this does not necessarily indicate a problem, as the project may have subsequently adjusted its tokenomics, contracts, or distribution plans without reflecting those changes on-chain. Yet based on the previously public BMEX tokenomics design, those allocation portions have not actually entered on-chain circulation. BitMEX, co-founded by Arthur Hayes and others, pioneered the perpetual contract trading model, significantly influencing the crypto derivatives market. The closure announcement has visibly dented market confidence in BMEX.

Sources: Anthropic Considering Requiring Employees to Sell Shares via Pre-Set Trading Plans After IPO

People familiar with the matter revealed that AI giant Anthropic is considering an unusual arrangement after its public listing, requiring ordinary employees to sell their shares through pre-set trading plans to avoid violating insider trading regulations. Reports say the arrangement would use 10b5-1 trading plans, where the timing and quantity of stock sales are set in advance and executed according to the plan. Typically, such plans apply mainly to company executives, directors, and certain finance and legal personnel. If Anthropic ultimately implements this and extends it to ordinary employees, it would be a relatively rare practice.

AI Coding Company Cognition Acquires Poke Developer Interaction

AI programming company Cognition AI officially announced the acquisition of The Interaction Company of California. Poke is a personal AI agent that operates within SMS, proactively sending messages, following up on user needs, and delivering services through a “friend-like” interaction model. Over the past three months, Poke users have exchanged more than 100 million messages with it, making it the only AI agent natively supported by Apple to run directly inside Apple Messages. Cognition stated that the Interaction team has built agents characterized by proactiveness, personalization, and high interactivity, aligning with the development direction of its own AI software engineering agent, Devin. The two teams have been following each other for years, and Cognition’s co-founder said both sides have long been betting on “always-on cloud agents.” After the acquisition, Poke users can continue using the product normally. Going forward, Cognition plans to leverage its own models and infrastructure to improve Poke’s speed and reliability.

AMD CEO: Computing Market Expected to Reach $2 Trillion by 2030

At the AMD Advancing AI event, AMD CEO Lisa Su said the AI accelerator market is expected to reach $1.4 trillion by 2030; the data center CPU market is forecast to hit $220 billion by 2030; overall, the computing market is projected to reach $2 trillion in scale by 2030.

U.S. Senate Majority Leader: Clarity Bill Expected to Miss Window Before Congressional Summer Recess

U.S. Senate Majority Leader John Thune indicated that the Clarity bill likely cannot pass before the August 7 recess, but the Senate will at least begin the review process before then. Thune said he “hopes to at least get the Clarity bill moving,” but the Senate will prioritize a Russia sanctions bill pushed by the late Senator Graham next week, and Graham’s funeral mid-week will occupy senators’ time. White House crypto adviser Patrick Witt responded that he was “puzzled” by Thune’s remarks, arguing there is still time for deliberation in the first week of August and he “wouldn’t completely rule it out.” Industry and lawmakers had previously been optimistic that the Clarity bill could pass the Senate within the next two weeks, but the current progress means it will most likely be delayed until September, and the probability of passing in 2026 has dropped significantly. After the bill’s final working draft was released this week, controversy has persisted — Democrats are unhappy with ethics provisions for government officials, and some Republican lawmakers have raised objections over stablecoin yield treatment and wording of ethics clauses. The bill needs 60 votes to advance. If the Senate begins debate before the recess but fails to pass it, there will still be a brief window after returning in September, but election politics and other priorities will compete for legislative time.

Robinhood CEO’s X Account Hacked, Hacker Posts Fake “Vladhood” Meme Coin Promotion

Robinhood CEO Vlad Tenev’s X account was suspected to have been hacked, with a post claiming that “Vladhood ($VLAD)” would become the “official mascot of Robinhood Chain” and list on the Robinhood app, including a contract address. The official Robinhood account did not post any similar message, and the Robinhood Chain explorer flagged the token as a “potential scam.” Robinhood officials later confirmed that Tenev’s account was compromised and are working with X to restore access; the relevant post has been deleted. Robinhood Chain, launched on July 1, has become a hot venue for meme coin trading, processing roughly 6 million transactions daily with cumulative DEX trading volume around $9 billion, primarily driven by high-risk meme coins.

Swan CEO: Twenty One Serves Tether’s U.S. Political Interests, Mallers’ Role a “Figurehead”

In a podcast interview, Swan Bitcoin CEO Cory Klippsten sharply criticized Tether and its backed Twenty One Capital, claiming Tether “effectively controls” the publicly listed bitcoin reserve company and uses it as a tool to advance political interests in the U.S., but provided no evidence. Tether did not respond to a request for comment. Klippsten also described Strike founder Jack Mallers’ CEO role at Twenty One as a figurehead, saying his primary duty was to promote the company’s stock, and suggested that Mallers’ departure was not his own decision. Mallers resigned as CEO this week, while his company Strike also walked away from a potential merger with Twenty One.

Stripe Reportedly in Talks to Acquire OpenRouter, Deal Could Reach $10 Billion

Sources say Stripe is in talks to acquire AI model aggregator platform OpenRouter, with a deal possibly reached soon. OpenRouter was previously valued at roughly $1.3 billion, but if sold, the transaction value could reach around $10 billion.

Alphabet’s Stake in Anthropic Surges in Value to About $124 Billion

Alphabet Inc.’s stake in artificial intelligence startup Anthropic PBC has soared in value to roughly $124 billion, making it one of the most successful investments in the company’s history.

OpenAI Plans to Collaborate with AMD to Develop MI500 Series AI Chips and Follow-up Products

OpenAI expects large-scale deployment of AMD Helios. OpenAI's head of infrastructure said the company started using AMD Helios GPU racks three months ago, and OpenAI plans to collaborate with AMD on developing the MI500 series AI chips and subsequent products.

AMD CEO: Rack-scale AI system Helios has fully entered production

The AMD Advancing AI conference was held in San Francisco from July 22-23. At the conference, AMD CEO Lisa Su said that the AI accelerator market is expected to reach $1.4 trillion by 2030, the global data center CPU market will reach $220 billion, and the global computing market will reach $2 trillion. In addition, AMD officially launched its first rack-scale AI system, Helios. Lisa Su said that Helios has fully entered production and will begin shipping soon. CNBC analysis pointed out that a year ago, Lisa Su's forecast for the AI accelerator market size in 2028 was $500 billion. Based on the latest forecast, by the end of this decade, that scale will be roughly equivalent to the size of today's "entire semiconductor market." Lisa Su said that GPUs will account for the majority of that.

New US tariffs take effect today, imposing 10%-12.5% tariffs on dozens of countries

Just as the 150-day global temporary tariffs expired this Friday, the Trump administration introduced new tariff measures. Citing Xinhua News Agency, it reported that the US Trade Representative's office issued a notice on July 23, announcing under Section 301 of the Trade Act of 1974 that tariffs of 10% to 12.5% would be imposed on dozens of countries and regions for failing to prevent "forced labor," effective 24th Eastern Time. The above tariffs will cover 99% of US trade volume. The new tariffs will be stacked on top of already-in-effect tariffs, with only certain agricultural products, pharmaceuticals, aviation parts, steel and aluminum, etc., eligible for exemptions. The new tariffs will be stacked on top of already-in-effect tariffs, with only certain agricultural products, pharmaceuticals, aviation parts, steel and aluminum, etc., eligible for exemptions.

Coinbase now supports business customers accepting payments from AI agents via the x402 protocol

Starting this week, Coinbase is allowing its business customers to accept payments from AI agents via the x402 protocol, which was developed and incubated by Coinbase. Coinbase Business users can let agents pay in USDC with no additional setup, powered by Coinbase Payments. The head of Coinbase Business said they are providing a payment experience similar to traditional shopping scenarios for the new online agent economy — agents can shop after creating a wallet, and businesses provide services through an agent-friendly checkout flow. Coinbase also offers agent trading functionality, allowing users to give instructions in natural language, with agents monitoring the market in real-time and executing trades. Developers can add x402 payment acceptance to any API or web service in as few as 3 lines of code via the new x402 SDK on the Coinbase Developer Platform.

DEX aggregation protocol Odos announces cessation of operations, all services permanently shut down from July 30

Decentralized exchange aggregation protocol Odos posted on X that its operating company is gradually winding down operations. The Odos app will switch to read-only mode on July 27, and all services will permanently close on July 30. New account registration, new wallet creation, and new limit orders have been disabled since July 23; from July 27 to 30, the app will only allow viewing transaction history and balances; after July 30, services will completely cease, and the team will no longer provide development, support, or maintenance. Users who created wallets via social or email login must transfer assets to other wallets or export private keys before July 30. Odos emphasized that the ODOS token exists independently of the operating company, the company does not custody or market-make the token, and its cessation of operations does not affect the token's on-chain mechanisms. Odos DAO is independent of the company and will announce its plans separately. Odos reminded users to beware of fake migration websites and airdrop scams, and never share seed phrases or sign suspicious transactions.

US CFTC extends comment period for 24/7 futures trading and energy perpetual contract rules to August 26

The U.S. Commodity Futures Trading Commission (CFTC) extended the public comment period for proposed rules on "extending standard futures contracts to 24/7 trading and perpetual contracts for physically-deliverable or storable energy commodities" by 30 days, to August 26, 2026. The CFTC stated that it decided to extend the comment period based on commenters' requests and the addition of several new questions in the request for comments. The original request for comments focused on two types of issues: first, extending standard futures contracts (including energy futures) to 24/7 trading without changing fixed expiration dates, involving significant economic changes to delivery or settlement terms; second, perpetual contracts involving physically-deliverable or storable energy commodities. After extensive communication with the industry, the CFTC added additional questions for consideration to ensure a comprehensive evaluation of the relevant matters.

ARK Invest: Hyperliquid’s weekly RWA trading volume share reaches 54%, surpassing crypto asset trading volume

ARK Invest Director of Crypto Research Lorenzo Valente posted on X that Hyperliquid's weekly RWA (Real World Assets) trading volume exceeded crypto asset trading volume for the first time, accounting for 54% of total trading volume. Of that, $26 billion was HIP-3 RWA trading, with individual stocks making up 61% of RWA trading volume, surpassing indices and commodities since June. Valente said total DEX perpetual contract trading volume last week was $79 billion, of which Hyperliquid accounted for $50 billion, meaning its RWA market has surpassed the combined crypto perpetual trading volume of all other DEXs. Valente believes RWA trading will form a landscape independent of crypto assets, and investors should not rely solely on mainstream crypto asset trading volume as a judgment basis; paying attention to subcategories within RWA is more critical.

Report: Bitcoin may be near cycle bottom, multiple indicators simultaneously flash rare signals

Blockworks researcher Luke Leasure published a report indicating that Bitcoin may be at or near a cycle low. BTC is down 50% from its all-time high, the bear market has lasted over 40 weeks, and multiple high-timeframe indicators have simultaneously reached historically rare levels. Bitcoin recorded its most severe relative oversold reading against the Nasdaq ever this month, and also set a relative oversold record against gold in February. The realized price (on-chain average cost basis) is around $53,000, only 18% below spot, and historically every bear market low has traded at a discount to this level. The report noted that historically bear market cycles tend to bottom around the 60th week after the all-time high, which would correspond to a cycle low potentially appearing by the end of November 2026. If historical patterns hold, it would take about 120 weeks for Bitcoin to reclaim its previous high, implying new highs could appear by February 2028. Leasure emphasized that as Bitcoin matures, the marginal returns of passive holding strategies diminish; outperforming the market requires identifying opportunistic overweight or underweight windows. Currently multiple conditional signals are simultaneously at historically rare levels, and the period from now to December 2026 may present an attractive long-term re-accumulation window, but the sample size is small, and structural changes (ETFs, corporate holdings, derivatives) could invalidate historical patterns.

Argentina advances capital market deregulation, plans to allow mutual funds to invest in cryptocurrencies

The Argentine government is advancing capital market deregulation, planning to allow mutual investment funds (FCI) to invest in Bitcoin and cryptocurrencies, and to allow virtual assets to be used as collateral. The measure stems from a draft "Deregulation Bill" drawn up by Economy Minister Federico Sturzenegger, which is now awaiting President Javier Milei's signature before being submitted to Congress. The draft explicitly allows FCIs to allocate assets to virtual assets and creates "qualified investor" funds. The Argentine National Securities Commission's oversight of FCIs is limited to legality and technical solvency reviews; the central bank will have exclusive regulation of infrastructure involving the registration or transfer of cryptocurrencies and tokenized assets. The draft also explicitly allows securities such as stocks, convertible bonds, etc., to be issued, stored, and traded via crypto networks.

An entity stakes 1.49 million HYPE through 8 wallets, worth approximately $88.2 million

An entity staked 1.49 million HYPE (approximately $88.2 million) through 8 wallets, with individual staking amounts ranging from 115,700 to 390,400 tokens. On-chain data shows that all wallets withdrew HYPE from Bybit about 9 months ago and have held it since.

1kx: On-chain protocol fees fell 33% YoY in Q2, perpetual and prediction markets grew 22% against the trend

Crypto VC firm 1kx posted an analysis on X stating that on-chain protocol fees dropped 33% year-over-year in the second quarter. Among them, DEX fees fell by $625 million (–57%), mainly led by declines from Meteora, Raydium, and PancakeSwap, which collectively generated $1.5 billion in fees in the first half of last year. Blockchain and MEV fees decreased 40% to $362 million. Launchpad fees dropped 57%, with Pump.fun accounting for nearly half. However, perpetual contract and prediction market fees grew 22% YoY, led by edgeX and Hyperliquid; Polymarket fees neared $100 million in a single quarter. Lending and asset management protocol fees continued to grow, with Morpho, USDai_Official, and maplefinance each adding $9 million to $19 million; Canton Network added $179 million in L1 fees (mostly incentive-driven).

CryptoQuant: Ethereum shows improving signs relative to Bitcoin, but key bottom signal not yet confirmed

CryptoQuant’s latest weekly report notes that ETH is trading roughly 17% below its realized price (~$2,300). Historically, when ETH trades below its realized price, it often coincides with market undervaluation and long-term bottom zones. Ethereum also shows improving signs relative to Bitcoin: ETH’s MVRV ratio has retreated from extremely overvalued levels, exchange inflows have declined, ETF holdings have started to recover after months of weakness, and ETH/BTC spot trading volume has fallen into ranges historically associated with market bottoms. Nevertheless, only two of CryptoQuant’s five key bottom indicators have reached historical reversal levels. The remaining indicators, though improving, have not yet touched the extreme levels seen at prior cycle lows, suggesting Ethereum’s bottom may still be forming.

Goldman Sachs CEO publicly backs Clarity Act, diverging from Wall Street peers

Goldman Sachs CEO David Solomon said in a Politico interview that he is “very supportive of advancing the Clarity Act,” hoping to establish market structure and push the innovation process forward. Solomon acknowledged the bill is “not perfect,” but its core value lies in creating a level playing field to enhance market stability. This stance puts him at odds with JPMorgan Chase CEO Jamie Dimon and banking trade groups, which have opposed the bill’s stablecoin yield provisions for months, arguing that allowing crypto firms to offer stablecoin rewards at higher rates than banks could siphon off bank deposits. The Clarity Act classifies most crypto assets as non-securities and excludes them from SEC oversight while protecting decentralized developers. The latest version adds an ethics clause restricting the president and family from engaging in crypto businesses, but it expires in 2029 and does not limit Trump’s sons — a point Democrats have criticized as insufficient. It remains uncertain whether the bill can pass before the August recess.

“Set 10 big goals first” whale’s long position increased to 2,933.63 BTC, with unrealized profit of $209,000

The “Set 10 big goals first” whale @Jason60704294 has increased its long position to 2,933.63 BTC, with an entry price of $64,940.14, total position value of $190 million, and unrealized profit of $209,000. After closing shorts, it flipped to a long because its medium- to long-term bullish view on BTC remains unchanged, believing $60,000 is an important cost-support area, with a stop-loss range of $61,500 to $64,000.

BlackRock: Crypto networks still hold the advantage in facing quantum threats

BlackRock published a report titled “Quantum Computing and Blockchain,” pointing out that upgrading existing cryptographic systems to quantum-resistant standards is technically entirely feasible, with the core challenge being timely coordination and implementation, and the upgrade difficulty is far lower than building a practical quantum computer capable of breaking those cryptographic systems. The report says about 35% of the circulating Bitcoin supply faces potential attack risk due to exposed public keys, and 11% to 19% could be permanently lost during migration. BlackRock believes crypto networks still hold the advantage in addressing quantum threats, saying “the advantage still lies with the defense.” Additionally, on Thursday, BlackRock joined Coinbase, Fidelity Digital Assets, and Block to announce the formation of the Bitcoin Security Alliance, funding developers to contribute code to open-source quantum-resistant proposals such as BIP-360. BlackRock said BIP-360 is a trusted and well-designed solution but did not call it the final solution.

BTC treasury company KULR Technology reduces again by 145.8 BTC, leaving only 100 BTC in reserve

BTC treasury company KULR Technology transferred 145.8 BTC ($9.45 million) to Coinbase Prime five hours ago. After multiple reductions over nearly three months, its reserve of 1,021 BTC ($101 million) now stands at just 100 BTC ($6.47 million). The average BTC reserve cost was $98,923, and the average selling price was $74,368, resulting in a loss of $22.62 million. It appears to have abandoned its Bitcoin treasury strategy.

A whale deposits 2.93 million HYPE (~$172 million) into Hyperliquid via 19 wallets and stakes

A whale deposited and staked 2.93 million HYPE ($172 million) into Hyperliquid via 19 wallets in the past 24 hours. These HYPE were accumulated nine months ago at an average price of $44, with a current unrealized profit of approximately $44.5 million.

AI chip startup Etched completes $300 million Series C, post-money valuation reaches $10.3 billion

AI chip startup Etched completed a $300 million Series C funding round led by Sequoia, with participation from Andreessen Horowitz, SK Hynix, Jane Street, and Diffusion Capital, reaching a post-money valuation of $10.3 billion, doubling from its $5 billion valuation last December. Etched was founded in 2022 by three Harvard dropouts, designing chips specifically for AI models based on the Transformer architecture. The company said it has successfully manufactured its own chips and has been tested by customers, having already received $1 billion in orders. Etched designed two new components for the inference process: a prefill chip that dramatically boosts speed and reduces heat through low-voltage operation, and a decode chip that uses cluster-level memory technology to enable a shared memory pool among chips. Etched currently has 400 employees, operates a 2MW data center, and has opened a new 80,000-square-foot, 10MW facility in Milpitas.

TIME magazine cover spotlights Unitree: Chinese humanoid robot company leads global wave

Unitree has appeared on the latest cover of TIME magazine, with the accompanying title: “The humanoid robot revolution is coming — Chinese company Unitree leads the trend.”

COINTELEGRAPH: BitMEX delists 65 trading pairs, derivatives in July amid exchange shutdown

Binance adds ACX, LSK, STX to its monitored token list, tagging them as highly volatile and high-risk assets.

Binance announced in an official statement that starting July 24, 2026, it will add Across Protocol (ACX), Lisk (LSK), and Stacks (STX) to its "Monitoring Tag" list. Binance noted that tokens with the monitoring tag have higher volatility and risk compared to other listed assets, and the platform will closely monitor the relevant projects and conduct regular reviews. Such tokens face the risk of failing to meet Binance's listing standards and potentially being delisted in the future. Binance added that factors including the project team's level of commitment, quality of development activities, trading volume and liquidity, network security, smart contract stability, information disclosure status, changes to token economic models, and presence of any improper conduct will all be included in subsequent assessments. Binance stated that other services related to ACX, LSK, and STX will not be affected for the time being, and the monitoring tag will be updated after the announcement is released.

18 minutes ago

Sources familiar with the matter: The Bank of Japan is likely to maintain its policy guidance and commit to continuing interest rate hikes.

According to sources, the Bank of Japan (BOJ) is shifting its focus to whether companies will pass rising cost pressures on to households, and will continue to warn at next week’s policy meeting that inflation could stay above the 2% target for a prolonged period. Sources said the BOJ is expected to signal that the risk of short-term inflationary shocks triggered by rising oil prices has eased since April, though overall price pressures remain a concern. Additionally, the BOJ is likely to maintain its current policy guidance of continuing its interest rate hike path. Markets expect the BOJ to determine the pace of future monetary policy adjustments based on wage growth, service prices, and corporate pricing behavior.

18 minutes ago

South Korea's KOSPI index saw its decline widen to 5.61%, with Samsung falling more than 6%.

According to Bitget's market data, South Korea's KOSPI index has extended its decline to 5.61%, Samsung fell more than 6%, and SK Hynix dropped 5.52%.

18 minutes ago

An early MakerDAO address sold 1,050 MKR tokens after lying dormant for 10 years, netting $1.316 million in USDC.

According to EmberCN monitoring, an address belonging to MakerDAO’s early team or investor sold MKR tokens it had held for nearly 10 years 40 minutes ago, converting the proceeds to USDC. Data shows the address received 1,050 MKR in April 2016, with no transfers made over the subsequent decade—only a wallet migration during the MKR token upgrade in 2018. The address sold all 1,050 MKR this time, receiving approximately 1.316 million USDC, and transferred the funds to the Kraken exchange.

18 minutes ago

Maji was liquidated again, and subsequently sold BAYC NFTs to top up its margin.

According to Lookonchain’s monitoring, the address of crypto figure "Brother Ma Ji" Huang Licheng has been liquidated again. To raise funds to sustain his ETH long position, he was forced to sell a Bored Ape NFT at a loss. Data indicates that roughly two hours ago, Machi offloaded Bored Ape #6801 for 8.61 ETH. The NFT was purchased three years ago for 23.5 ETH, resulting in a loss of 14.89 ETH, equivalent to approximately $28,000.

18 minutes ago

Machi liquidated, forced to sell Bored Ape 6801 for 8.61 $ETH, taking $28K loss

Machi(@machibigbrother) was liquidated again! To raise more funds for his $ETH long, he had to sell his Bored Apes at a loss. 2 hours ago, he sold Bored Ape #6801 for 8.61 $ETH, which he bought 3 years ago for 23.5 $ETH, taking a loss of 14.89 $ETH($28K).

18 minutes ago

On July 23, 2026, Steven Madden Ltd (SHOO) shares fell 3.2% to a current price of $42.11, marking a decline of 3.6% over the past week and a slight decrease of

Boyd Gaming Corporation (BYD) Q2 2026 Earnings Call Transcript

AtriCure, Inc. (ATRC) Q2 2026 Earnings Call July 23, 2026 4:30 PM EDT

Company Participants

Michael H. Carrel - CEO, President & Director
Angela Wirick - Chief Financial Officer

Conference Call Participants

Marissa Bych - Gilmartin Group LLC
Matthew O'Brien - Piper Sandler & Co., Research Division
Marie Thibault
John Young - Canaccord Genuity Corp., Research Division
Lilia-Celine Lozada - JPMorgan Chase & Co, Research Division
Michael Matson - Needham & Company, LLC, Research Division
Danny Stauder
Keith Hinton - Prime Executions, Inc., Research Division

Presentation

Operator

Good afternoon, and welcome to AtriCure's Second Quarter 2026 Earnings Conference Call. This call is being recorded for replay purposes. [Operator Instructions].

I would now like to turn the call over to Marissa Bych from the Gilmartin Group for a few introductory comments. You may begin.

Marissa Bych
Gilmartin Group LLC

Thank you. By now, you should have received a copy of the earnings press release. If you have not received a copy, please call (513) 644-4484 to have one e-mailed to you.

Before we begin today, let me remind you that the company's remarks include forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond AtriCure's control, including risks and uncertainties described from time to time in AtriCure's SEC filings.

These statements include, but are not limited to, financial expectations and guidance, expectations regarding the potential market opportunity for AtriCure's franchises and growth initiatives, future product approvals and clearances, competition, reimbursement and clinical trial enrollment and outcomes. AtriCure's results may differ materially from those projected. AtriCure undertakes no obligation to publicly update any forward-looking statements.

Additionally, we refer to non-GAAP financial measures, specifically constant currency revenue growth, adjusted EBITDA and adjusted earnings or loss per share. A reconciliation of these non-GAAP financial measures with the most directly comparable GAAP measures is included in our press release, which

Deckers Outdoor Corporation (DECK) Q1 2027 Earnings Call Transcript

RingCentral’s Cash Flow Hit a Record—And It’s Fueling Bigger ReturnsRingCentral NYSE: RNG reported second-quarter 2026 results that exceeded the high end of its guidance across revenue, operating margin and free cash flow metrics, while management highlighted growing adoption of its artificial intelligence products and announced an increase to the company’s quarterly dividend.

Founder, Chairman and CEO Vlad Shmunis said the company’s performance reflected a multi-year effort to improve profitability and cash generation while repositioning RingCentral around “agentic voice AI.” He said the company is seeking to become an “intelligence layer” where AI agents and human agents work together to manage customer interactions.

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It's RingCentral NYSE: RNG You Want In Your 2021 Portfolio, Not Zoom NASDAQ: ZM“We delivered another strong quarter, exceeding the high end of guidance across all key metrics,” Shmunis said. He added that total revenue, subscription revenue, GAAP operating margin and non-GAAP operating margin all surpassed expectations.

Revenue and Profitability Top Guidance CFO Vaibhav Agarwal said total revenue in the quarter was approximately $657 million, up 5.9% year over year. Subscription revenue was approximately $634 million, up 5.8% from the prior year. Both measures came in above the high end of the company’s guidance.

Agarwal said customer trends remained healthy, citing steady new customer additions and monthly net retention above 99%. He said the company’s recurring revenue model continues to be supported by the “mission-critical role” RingCentral’s platform plays for customers.

RingCentral also expanded profitability in the quarter. Subscription gross margin remained above 80%, while non-GAAP operating margin reached 23.4%, up nearly 90 basis points year over year and above guidance. GAAP operating margin was 7.7%, improving by more than 170 basis points from the year-ago period.

Stock-based compensation as a percentage of revenue declined about 150 basis points year over year to 9% in the second quarter. Agarwal said RingCentral remains on track for stock-based compensation to be approximately 9% of revenue in 2026, down 180 basis points from 2025.

Free Cash Flow Outlook Raised, Dividend Increased RingCentral generated $180 million of free cash flow in the quarter, up 25% year over year. Agarwal attributed the increase to operating performance, efficiency gains and working capital improvements, including certain one-time benefits from customer and partner prepayments.

The company raised its full-year free cash flow outlook to a midpoint of $620 million, or more than 23% of revenue. For the full year, RingCentral now expects free cash flow per share of $7.07 to $7.23, up 23% year over year.

Management also announced that RingCentral’s board approved an increase in the quarterly dividend to $0.125 per share. Agarwal said the dividend increase reflects confidence in the company’s cash flow durability and is part of a balanced capital allocation strategy that also includes investment in innovation, debt reduction and share repurchases.

During the quarter, RingCentral reduced overall debt by approximately $85 million and lowered net leverage to 1.5 times. In the first half of 2026, the company reduced gross debt by about $130 million. Management said RingCentral remains on track to reduce gross debt to $1 billion by the end of 2026. Agarwal also noted that the company has no maturities until 2030 and maintains $355 million of undrawn credit capacity.

RingCentral repurchased approximately 2.2 million shares during the quarter for about $94 million. At quarter-end, approximately $326 million remained under the company’s repurchase authorization. Diluted share count declined 6% year over year to roughly 87 million shares.

AI Products Drive Customer Expansion Executives emphasized AI adoption as a key theme of the quarter. Shmunis said annual recurring revenue from customers using at least one of RingCentral’s native paid AI products now represents about 13% of ARR, doubling year over year. He said those customers have net retention “well above 100%” and meaningfully higher average revenue per user than the rest of the customer base.

RingCentral ended the second quarter with more than 16,000 paying AIR, or AI Receptionist, customers, up 400% year over year. ACE, the company’s AI Conversation Expert product, had more than 6,300 customers, growing more than 70% year over year. ARR from AI-led new products grew nearly 60% during the first half of the year, according to Shmunis.

President and COO Kira Makagon said customers accelerated adoption of RingCentral AI during the quarter. She cited VGM Group, a national post-acute healthcare organization, which deployed RingCentral’s AIR, AVA and ACE products on top of RingEX. Makagon said AIR recovered 45% of calls previously lost to abandonment for that customer, AVA eliminated manual note-taking and ACE provided call visibility and coaching.

Makagon said AIR has been enhanced with spam blocking filters and lead capture capabilities that sync with Salesforce, HubSpot and Zoho. Based on a recent customer survey, she said AIR customers reduced missed call rates from an average of 20% to close to zero.

RingCentral’s Customer Engagement Bundle, or CEB, also saw growth. Shmunis said CEB now serves more than 9,600 customers and grew more than 80% sequentially. The bundle adds lightweight contact center features to RingEX, including call queues, shared SMS inboxes and analytics.

Partnerships With NiCE and Avaya Updated RingCentral announced an expanded partnership with NiCE under which NiCE will begin marketing and selling RingEX in combination with CXone, while RingCentral continues to offer NiCE CXone to its customers. Shmunis described the arrangement as a “symmetrical, mutually reinforcing partnership” between the two companies.

In response to an analyst question, Shmunis said the expanded NiCE relationship could give RingCentral access to NiCE’s enterprise customer base, where NiCE has a strong position in contact center software. He said RingCentral Contact Center powered by NiCE has historically been more mid-market by logo count, while NiCE has large enterprise accounts.

RingCentral also said it restructured its relationship with Avaya. Shmunis said RingCentral will remain Avaya’s exclusive multi-tenant cloud UCaaS offering, while existing Avaya Cloud Office customers and partners will transition directly to the RingCentral platform and brand.

Full-Year Guidance Raised For fiscal 2026, RingCentral raised its subscription revenue outlook to $2.55 billion to $2.561 billion, representing growth of 5.1% to 5.5%. Total revenue is now expected to be $2.635 billion to $2.646 billion, representing growth of 4.8% to 5.2%.

The company expects full-year GAAP operating margin of 9% to 9.7%, non-GAAP operating margin of approximately 23.6% to 24%, and non-GAAP earnings per share of $4.96 to $5.10. RingCentral also said it now expects to reach its 20% GAAP operating margin target within two to three years, one year ahead of its prior schedule.

For the third quarter, RingCentral guided for subscription revenue of $643 million to $649 million and total revenue of $664 million to $670 million. The company expects third-quarter GAAP operating margin of 7.2% to 8.6%, non-GAAP operating margin of 23.5% to 24%, and non-GAAP earnings per share of $1.25 to $1.30.

Management said AI adoption, margin expansion and free cash flow generation remain central to RingCentral’s strategy. “We believe RingCentral is well-positioned to continue compounding shareholder value,” Agarwal said.

About RingCentral (NYSE:RNG)RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.

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

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The average public school teacher with 20-plus years of experience often earns in the $75,000 to $95,000 range, and $85,000 is a common target for a 55-year-old educator planning the switch from paycheck to portfolio. Replacing that gross number through investment income depends on one variable: yield. The capital required swings by more than a million dollars depending on where on the risk spectrum the portfolio sits.

With the 10-year Treasury near 5% and the Fed funds upper bound near 4%, dividend equities have to work harder to justify their risk. Here is how the math actually plays out across three yield tiers.

The Conservative Tier: 3% to 4% Yield At 3.5%, replacing $85,000 requires $2,428,571. At 4%, it drops to $2,125,000. This is dividend growth territory: broad dividend ETFs, utility ETFs, dividend aristocrat funds, and blue-chip regulated utilities.

Alliant Energy (NASDAQ:LNT | LNT Price Prediction) is the archetype. The regulated utility raised its quarterly payout from $0.5075 to $0.535 this year, pushing the annualized forward dividend to $2.14. Shares trade near $74, so the current yield sits near 2.8%, with a 23 PE and steady rate-base growth from data center demand in Iowa and Wisconsin.

Casey’s General Stores (NASDAQ:CASY) shows the compounding side. The convenience store chain just raised its quarterly dividend from $0.57 to $0.65, and shares are up 64% over the past year. The yield is under 1%, but the payout has risen from $0.24 quarterly in 2016 to $0.65 today. That trajectory is the entire point of the low-yield tier.

The Moderate Tier: 5% to 7% Yield At 6%, the required nest egg is $1,416,667. At 7%, it drops to $1,214,286. This tier draws from covered call ETFs (DIVO, SPYI, JEPQ, GPIQ), preferred share funds, REIT ETFs, and higher-payout regional banks.

East West Bancorp (NASDAQ:EWBC) sits on the growth edge of this tier. The bank hiked its quarterly dividend from $0.60 to $0.80 this year, delivered $9.87 in trailing EPS at a 13 PE, and posted quarterly earnings growth of 17% year over year. Layering covered calls on positions like EWBC or CASY can push blended yield toward the 6% to 8% range, though the strategy caps upside when shares run.

The Aggressive Tier: 8% to 14% Yield At 10%, $850,000 covers the salary. At 12%, $708,333 does. Mortgage REITs, business development companies, high-yield bond funds, and leveraged covered call funds populate this range.

AGNC Investment (NASDAQ:AGNC) illustrates both the appeal and the trap. The monthly distribution is $0.12 per share, or $1.44 annualized, on a stock trading near $11. That is a headline yield above 13%. But AGNC has cut the payout three times since 2016, including a 25% reduction in 2020, and the historical progression from $1.40 quarterly in 2010 to $0.12 monthly today tells the story of principal erosion.

The Compounding Insight A portfolio yielding 3.5% that grows its dividend 8% annually roughly doubles income in nine years. Casey’s did exactly this: the quarterly payout roughly tripled from 2016 to 2026. A 12% mREIT yield with no growth stays flat at best and shrinks at worst. For a 55-year-old with a decade until Medicare, the tier choice is really a choice between growing income and static income.

Silicon Motion (NASDAQ:SIMO) demonstrates the opposite pole. The NAND controller maker pays $2.00 annually against a $278 share price: a sub-1% yield. Its 299% one-year gain is a growth story, not an income vehicle.

Three Moves for the Teacher Subtract the teacher pension and projected Social Security from $85,000. Many state pensions replace 40% to 60% of final salary, which can cut the gap the portfolio needs to fill by half or more. Model the tax bite tier by tier. Qualified dividends from LNT or EWBC are taxed at long-term capital gains rates, while covered call ETF distributions and mREIT payouts often flow through as ordinary income. Compare 10-year total return between a dividend growth fund and a high-yield covered call fund. With CPI at 332.6 in June 2026, only growing income keeps real purchasing power intact. Contact [email protected] for any questions or corrections.

Cleveland-Cliffs (CLF - Free Report) reported $5.23 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 5.9%. EPS of -$0.20 for the same period compares to -$0.50 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $5.13 billion, representing a surprise of +1.88%. The company delivered an EPS surprise of +4.76%, with the consensus EPS estimate being -$0.21.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Cleveland-Cliffs performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

External Sales Volumes - Total steel Products: 4,025.00 KTon versus 4,105.28 KTon estimated by three analysts on average.Average net selling price per net ton of steel products: $1,124.00 versus the three-analyst average estimate of $1,109.49.Steel shipments by product - Coated steel: 1,240.00 KTon compared to the 1,269.08 KTon average estimate based on two analysts.Steel shipments by product - Plate: 172.00 KTon versus the two-analyst average estimate of 203.05 KTon.Revenues- Other Businesses: $174 million versus $170.67 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.8% change.Revenues- Steelmaking: $5.05 billion compared to the $4.99 billion average estimate based on three analysts. The reported number represents a change of +5.9% year over year.Revenues- Steelmaking- Stainless and electrical steel: $525 million versus the two-analyst average estimate of $424.94 million. The reported number represents a year-over-year change of +21%.Revenues- Steelmaking- Plate steel: $253 million versus the two-analyst average estimate of $282.19 million. The reported number represents a year-over-year change of -8%.Revenues- Steelmaking- Other: $527 million versus the two-analyst average estimate of $418 million. The reported number represents a year-over-year change of +26.4%.Revenues- Steelmaking- Cold-rolled steel: $660 million versus the two-analyst average estimate of $708.3 million. The reported number represents a year-over-year change of +2.3%.Revenues- Steelmaking- Hot-rolled steel: $1.54 billion versus $1.53 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +15.5% change.Revenues- Steelmaking- Coated steel: $1.53 billion compared to the $1.55 billion average estimate based on two analysts. The reported number represents a change of +10.1% year over year.View all Key Company Metrics for Cleveland-Cliffs here>>>

Shares of Cleveland-Cliffs have returned -10.6% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

Silver price (XAG/USD) inches higher after registering over 4% losses in the previous day, trading around $57.60 per troy ounce during the Asian hours on Friday. However, higher oil prices tied to Middle East tensions are strengthening bets on Fed rate hikes, threatening to weigh on non-yielding Silver.

According to the CME FedWatch tool, money markets are currently pricing in roughly a 35.8% chance of a Fed rate hike this month, alongside an 82.1% probability of at least a quarter-point hike in September.

Geopolitical tension continues to surge following reports that Yemen’s Iran-backed Houthi militant group attacked two Saudi oil tankers in the Red Sea for allegedly violating a blockade. In response, the US conducted its 13th consecutive night of military strikes on Iran.

Tensions escalated further after US President Donald Trump warned of "major military punishment" for both the Houthis and Iran if attacks continue, stating he is close to deciding on a massive, unprecedented military operation against Iran.

Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

The short‑term Elliott Wave outlook in Gold (XAUUSD) indicates that the rally to $4204 marked the completion of wave ((B)), after which the metal turned lower in wave ((C)). The internal subdivision of wave ((C)) is unfolding as a five‑wave structure. Within this sequence, wave (1) ended at $3983.2. The subsequent rally in wave (2) developed as an expanded flat formation. From the wave (1) low, wave A advanced to $4103.7, followed by a pullback in wave B that reached $3959.3. The final leg, wave C, extended higher to $4166.07, completing wave (2) at a higher degree.

From this point, the metal resumed its decline in wave (3). Down from wave (2), wave ((i)) ended at $4099.03, while the corrective rally in wave ((ii)) concluded at $4141.05. The expectation is for Gold to extend two additional lows to complete wave ((v)) of 1. Once this sequence finishes, the market should rally in wave 2 to correct the decline from the July 22 high of wave (2). This corrective phase will precede the next bearish leg.

In the near term, the pivot at $4204.6 remains decisive. As long as this level holds, rallies are expected to fail within three or seven swings, reinforcing the downside bias. The structure highlights continued weakness and suggests further bearish potential in the short horizon.

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Is Consumer Discretionary a Dead End? These 3 Stocks Say NoSL Green Realty NYSE: SLG raised its 2026 funds from operations guidance sharply after what management described as a strong first half of the year, citing stronger leasing, improved economic occupancy, expense control and a recurring contribution tied to One Vanderbilt.

On the company’s Q2 2026 earnings call, Chairman and Chief Executive Officer Marc Holliday said leasing gains made over the past several years are now showing up in the company’s financial results. He said economic occupancy rose 300 basis points during the quarter as concessions burned off and vacancy declined.

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Are Dividend-Paying Office REITs Finally Staging A Comeback?“Much of what we predicted at our investor conference in December is now playing out in ways that directly drive earnings and improves cash flow,” Holliday said. He added that the company expects to exceed its leasing goals for the year, though management said it was too early to reforecast the exact magnitude.

FFO Guidance Raised by $1.20 Per Share Chief Financial Officer Matt DiLiberto said SL Green increased its 2026 FFO guidance by $1.20 per share, or more than 26%, with “the vast majority” of the increase recurring. He attributed $0.20 per share of incremental FFO to the real estate portfolio, including benefits from early renewals, leasing of pre-built space, faster delivery of space to tenants and expense containment. DiLiberto said $0.10 of that amount was recognized in the second quarter.

These 3 Top-Rated Small Caps May Be Undervalued BargainsAnother $0.20 per share is expected from additional fee and other income tied to execution of the company’s 2026 business plan over the remainder of the year.

The largest component of the guidance increase, however, came from One Vanderbilt. DiLiberto said the property’s strong cash flow had caused SL Green’s carrying value in the investment to go negative, reaching the maximum negative basis allowed under GAAP at the end of the first quarter. Beginning in Q2, the company’s FFO contribution from One Vanderbilt includes amortization of the negative carrying value and the difference between cash distributions received and SL Green’s share of GAAP net income.

DiLiberto said those two components add $0.80 per share to 2026 FFO, including $0.35 recorded in the second quarter. He said the contribution is expected to be “as much or more” next year based on current projections.

Leasing Momentum Broad-Based Across Portfolio SL Green executives described leasing strength as broad-based, with particular rent appreciation in Park Avenue and Sixth Avenue assets. Steve Durels, executive vice president and director of leasing and real property, said rents have risen “dramatically” at properties including 1185 Sixth Avenue and 245 Park Avenue.

Asked about leasing mark-to-market trends, Durels said the strength was not isolated to one building or submarket. “Across the portfolio, we’ve been consistently raising asking rents throughout the year,” he said, adding that the company expects similar trends in the next quarter.

Durels said the company’s leasing pipeline stood at 900,000 square feet, about evenly split between new leases and renewals. Of that amount, 400,000 square feet was in active negotiation, with the balance in term sheets expected to convert to leases.

Management also highlighted activity tied to technology and artificial intelligence tenants. Durels said there are 9.5 million square feet of active technology searches in Manhattan, including 2.5 million square feet from AI tenants. He said SL Green has limited AI exposure to roughly 1% to 2% of its portfolio and noted that many current AI prospects are better capitalized than dot-com-era tenants.

New York City Office Market Cited as Key Driver Holliday repeatedly pointed to New York City’s economic strength as a foundation for SL Green’s performance. He cited Wall Street profits, office-using job growth, venture capital funding and broad demand from financial services, technology and healthcare as factors supporting office leasing.

He said the city has seen about 50 million square feet of office space leased over the past four quarters, which he characterized as likely a record. Holliday said the recovery is being driven by four factors: a strong local economy, limited new office supply, tenants moving forward with long-term space plans after years of uncertainty, and office-to-residential conversions reducing available office inventory.

“As long as the economy stays robust as it is, we don’t see this abating anytime soon,” Holliday said.

On concessions, Durels said renewal deals continue to support higher net effective rents. For typical five-year renewals, he said free rent is generally around three to four months, with three months often being the average. For new 10-year transactions, he said free rent could eventually move toward 10 months.

Capital Markets, Dispositions and Development Updates President and Chief Investment Officer Harry Sitomer said investor demand for quality Midtown Manhattan assets remains strong despite higher benchmark rates. He said SL Green has completed or is under contract on four of the 11 transactions in its 2026 plan and expects to announce two more soon, with the remaining five expected to launch later in the year.

Sitomer cited several recent transactions, including SL Green’s partnership with Mori Building at 346 Madison Avenue and its contract to sell 10 East 53rd Street at an approximately 5.7% cap rate. He said the 10 East 53rd Street sale represents roughly a 3.5 times multiple on SL Green’s 2024 acquisition of its partner’s interest.

On debt markets, Sitomer said SL Green remains encouraged by credit availability, pointing to roughly $11 billion of year-to-date CMBS originations, compared with about $8.5 billion during the same period last year. He said the company’s next major refinancing is 245 Park Avenue, which is in advanced stages.

DiLiberto said SL Green continues to hedge interest rate exposure, maintaining a more cautious stance as benchmark rates remain volatile. He said the company’s debt mix is now closer to 90% fixed and 10% floating, compared with a prior 70/30 mix.

At 346 Madison, Holliday said SL Green chose to bring in Mori Building early to fully capitalize and de-risk the development. He said the company may syndicate additional equity later, potentially after leasing begins, upon completion or during recapitalization.

SUMMIT and Other Assets Holliday said SUMMIT One Vanderbilt continues to outperform competing observatory attractions in attendance and average ticket price, even as overall tourism in New York has been weaker this year. He said attendance was softer early in the year but improved beginning in late May and June, with recent daily ticket sales reaching levels typically seen during the year-end holiday period.

SL Green remains on track to open SUMMIT Paris in 2027 and SUMMIT Tokyo in 2030, Holliday said, adding that the company sees “enormous growth potential” for the business.

Regarding 1515 Broadway, Holliday said SL Green has reassessed plans after the casino outcome and now views the property positively. He said Paramount’s acquisition by Skydance and planned Warner Bros. transaction could put the building back in play for longer-term use by the combined company. He also said lower debt at the property after the Paramount lease expires would give SL Green flexibility to consider entertainment-focused conversion options.

DiLiberto said SL Green still expects funds available for distribution to improve through 2026 and 2027, with the company reaching dividend coverage breakeven in 2028.

About SL Green Realty (NYSE:SLG)SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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

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Something odd has happened to Apple (AAPL -1.27%) on Wall Street. The 47 analysts covering the stock still rate it a buy, on average. But their average 12-month price target is now about $319 -- slightly below the roughly $320 the stock trades for as of this writing. In other words, the analysts who recommend buying Apple are, collectively, forecasting that it goes nowhere for a year.

That's an unusual setup for one of the world's most valuable tech companies, and the timing sharpens it. Apple reports fiscal third-quarter results on July 30, one week from today.

So is Wall Street quietly saying the stock is fully valued? Or have the targets simply not caught up with a stock that has moved faster than the models tracking it? A little of both, I'd argue.

Image source: Apple.

What a below-price average actually says The average hides a wide spread. Price targets on Apple run from a low of $215 to a high of $400, and the median target of about $329 sits modestly above the current share price.

The ratings lean the same direction as the average rating suggests. Of the 47 analysts, 29 rate the stock a buy or better, 14 call it a hold, and only four recommend selling.

That combination of bullish ratings and flat targets usually shows up after a stock has made a big move in a short time. Apple qualifies. Shares trade about 59% above their 52-week low of $201.50, and they set a record high of $334.99 within the past week.

Price targets tend to trail a run like that, getting revised upward in steps as analysts refresh their models. Indeed, the revisions are still coming. Morgan Stanley just lifted its target to $364.

But it would be too easy to dismiss the flat average as pure lag. The targets also reflect a valuation that has expanded dramatically. Apple trades at about 40 times earnings, a big premium to where it sat for most of the past few years.

The business is backing it up for now. Revenue rose 17% year over year in the fiscal second quarter, and earnings per share climbed 22%. But a year ago, investors could buy the same company for a much smaller premium. The below-price average is Wall Street's way of saying most of that improvement is now in the price.

Today's Change

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-4.14

Current Price

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321.75

The setup into July 30 That leaves next week's report carrying more weight than usual. Apple has scheduled its fiscal third-quarter results for Thursday, July 30. A 40-times-earnings multiple on a company sitting 4% from its record high leaves little cushion if growth cools.

There are reasons to expect the growth to hold. The company's recent momentum has been broad. iPhone revenue hit $57 billion in the March quarter, a record for the period and up 22% year over year, and the high-margin services business set an all-time revenue record of its own.

And Apple keeps adding potential catalysts. A reported device-leasing program with Klarna is reportedly set to launch on July 28 -- a move that could nudge iPhone revenue toward steadier, subscription-like behavior.

With that said, investors shouldn't count on the report to deliver another leg higher. When the average analyst target sits below the price, good news mostly confirms what's already priced in, while any wobble invites the stock to close the gap with the models. Apple doesn't need to disappoint for the stock to stall. It just needs to be ordinary for a quarter.

As for what I'd do, I wouldn't treat a below-price average target as a sell signal. Analyst targets chase the stock in both directions, and Apple remains one of the highest-quality businesses in the world, with staying power that's difficult to find anywhere else. It's a stock I'd continue holding for the long haul, and I'd still call it a top stock to buy and hold -- in moderation -- even at today's premium.

But the flat consensus is useful as a temperature check. It says the easy stretch of this run is probably over, and that returns from here likely have to be earned by the business quarter after quarter, because the valuation multiple has already done its expanding. Going into July 30, that's worth keeping in mind before expecting fireworks.

David Wagner explains why Alphabet (GOOGL) is emerging as an AI leader through stronger cloud growth, despite recent stock weakness brought by investor fears of ramping CapEx. He also breaks down Tesla's (TSLA) earnings miss and its long-term AI strategy after the company posted negative cash flow.

Microsoft AI released two new in-house models into public preview on Wednesday — MAI-Image-2.5-Pro, its highest-fidelity image generator to date, and MAI-Voice-2-Flash, a speech model built for high-volume enterprise workloads — while publishing production data that amounts to the company's most aggressive argument yet that it can power its own products without leaning on OpenAI's frontier models. The announcement, made by Microsoft AI's Superintelligence team, lands roughly a year after the company committed to building purpose-built models internally, and it arrives with an unusual level of specificity about where those models now run: Bing, PowerPoint, OneDrive, Dynamics 365, Excel, GitHub Copilot, and Azure.

As artificial intelligence and global data monitoring redefine the modern economy, choosing between NVIDIA (NVDA -1.56%) and Planet Labs PBC (PL -1.06%) requires a clear look at their differing trajectories. Both companies represent high-growth ambitions within the broader technology landscape.

NVIDIA dominates the hardware foundation of the digital world, while Planet Labs provides a unique view of Earth from space. While one is a trillion-dollar leader and the other is a growing up-and-comer, both companies are leveraging advanced computing to capture value in an increasingly data-driven global market.

The case for NVIDIANVIDIA designs the hardware and software used for accelerated computing and graphics. The company recently expanded its predictive capabilities by acquiring Kumo AI for nearly $400 million in June 2026. Note that two direct customers account for roughly 22% and 14% of total revenue, and customer concentration like this adds a layer of risk to the business. The company also clarified it is not in talks to acquire any PC manufacturers despite market rumors.

In its 2026 fiscal year (FY), revenue reached $215.9 billion, representing growth of 65.5% compared to the prior year. Net income for the period was $120.1 billion, resulting in a net margin of 55.6%. This performance reflects a significant upward trend in demand for high-end computing components across various industries.

As of its January 2026 balance sheet, the debt-to-equity ratio is 0.1x, which compares total debt to shareholder equity to show how a company funds its operations. The current ratio, which measures the ability to pay short-term obligations with short-term assets, is 3.9x. Free cash flow, calculated by subtracting capital expenditures from operating cash flow, reached $96.7 billion.

The case for Planet Labs PBCPlanet Labs provides daily Earth-imaging data through a subscription platform, serving sectors like agriculture and mapping. The company is currently expanding its global presence, including a new office in London focused on AI-driven partnerships within the defense stocks and commercial sectors. Much of its revenue comes from multi-year licensing agreements with large commercial enterprises and government entities.

In FY 2026, the company reported revenue of $307.7 million, which marks growth of 25.9% year-over-year. However, it recorded a net loss of $246.9 million for the fiscal year. This resulted in a negative net margin of 80.2% as the company continues to invest in its orbital infrastructure and data analytics software.

Based on the January 2026 balance sheet, the debt-to-equity ratio is 2.5x, indicating that total liabilities exceed shareholder equity. The current ratio is 1.7x, suggesting the company maintains enough liquidity to cover immediate expenses. Note that stock-based compensation (SBC) represented 40.9% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

Risk profile comparisonNVIDIA faces significant geopolitical hurdles, as stringent U.S. export restrictions on China limit its total addressable market. The company also deals with active litigation regarding historical crypto-mining revenue and intense competitive pressure from Advanced Micro Devices, Intel, and large cloud providers such as Amazon, which are producing their own AI semiconductor chips. Additionally, a heavy reliance on a limited number of international foundries creates vulnerabilities to regional geopolitical instability and sudden demand-supply mismatches.

Planet Labs carries risks related to its history of operating losses and the ongoing need for substantial capital to maintain its satellite constellation. The business is also vulnerable to technical failures in orbit, launch delays, or ground station outages that could interrupt services for its thousands of users. Furthermore, the company must navigate strict regulatory oversight from agencies like the FCC while competing against government-subsidized imagery programs such as Landsat, which may exert downward pressure on pricing.

Valuation comparisonNVIDIA appears more attractive on a Forward P/E basis, although both companies carry high P/S ratio figures relative to their current sales and future earnings estimates.

MetricNVIDIAPlanet Labs PBCForward P/E23.0x202.2xP/S ratio23.3x25.0xValuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Both NVIDIA and Planet Labs operate in hot sectors. The former is the industry leader in AI semiconductor chips, while the latter is involved in the emerging space economy.

The potential of investing in Planet Labs was illustrated this year when the stock soared to an eye-popping 52-week high of $51.76 in May. The increase was due to investor excitement over the emerging space economy, exemplified by the historic initial public offering (IPO) of Space Exploration Technologies Corporation, better known as SpaceX, in June.

However, Planet Labs stock has returned to earth since the SpaceX IPO. While it delivered record revenue of $94 million, representing an impressive 42% year-over-year increase, in its fiscal first quarter ended April 30, the company also posted an operating loss of $34.9 million, a substantial increase from the prior year’s loss of $22.8 million.

NVIDIA stock is unlikely to see the kind of explosive share price increase Planet Labs experienced this year, because Wall Street now holds sky-high expectations of the AI chip leader. Even so, NVIDIA is a well-run business under visionary CEO Jensen Huang, who correctly predicted the company’s chips could galvanize the AI sector.

In NVIDIA’s first quarter ended April 26, 2026, the company reported revenue of $81.6 billion, up an outstanding 85% from a year ago, demonstrating its dominance in the AI chip market. Its industry leadership, strong financials, and superior share price valuation make NVIDIA the better stock to own over Planet Labs.

Key Takeaways Intel's release highlighted favorable demand trends for AI compute. YoY sales growth of 25% reflected the highest read in more than a decade. Intel is significantly increasing its investments in equipment to support future growth. The 2026 Q2 earnings season really picked up pace this week, with a few Magnificent Seven members, namely Alphabet and Tesla, headlining the docket.

While the reactions to those releases were less than desirable, the reaction to Intel’s (INTC - Free Report) results has been relatively more constructive. The stock’s action over July has been disappointing, but the favorable release could help turn sentiment around.

Intel Benefits From AI-Driven Compute DemandIntel reported revenues of $16.1 billion, growing by a rock-solid 25% YoY and reflecting the highest growth rate we’ve seen from the company in more than a decade. The growth rate alone reflects a huge highlight, with the stock’s comeback over the past year simply incredible, gaining more than 400% since last July.

Importantly, its Data Center and AI business unit saw revenue surge nearly 60% YoY to $6.3 billion, with Intel Foundry also seeing 31% YoY revenue growth to $5.8 billion. These results overall reflect that Intel is successfully capturing the AI boom both as a designer of AI processors and as a factory building them.

Image Source: Zacks Investment Research

Lip-Bu Tan, Intel CEO, said –

‘AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network.’

Intel (INTC - Free Report) is also significantly increasing its investments in equipment, clean room space, and substrates. Simply put, Intel is expecting strong, long-term AI demand. The stock currently sports the highly-coveted Zacks Rank #1 (Strong Buy), but keep an eye on the revisions in the coming days/weeks following the release. Further upward revisions would ignite near-term momentum.

Image Source: Zacks Investment Research

Gold and Silver Recovery—3 Precious Metals Stocks for H2 2026Newmont NYSE: NEM said it remains on track to meet its full-year 2026 guidance after reporting a stronger-than-expected second quarter, supported by stable operations, higher realized gold prices and disciplined cost control across its global mining portfolio.

President and CEO Natascha Viljoen said the company produced 1.3 million ounces of gold, 17,000 tons of copper and 7 million ounces of silver during the quarter. Newmont generated $2.9 billion in cash flow from operations after working capital and a second-quarter record $2.2 billion in free cash flow.

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Gold’s 2026 Rally Has Cracked—Is It Time to Buy the Pullback?“Newmont delivered a strong second quarter and remains on track to achieve full-year 2026 guidance, supported by disciplined execution across the portfolio and continued momentum as we head into the second half of the year,” Viljoen said.

Executive Vice President and CFO Brian Tabolt said Newmont generated $3.8 billion of adjusted EBITDA and adjusted net income of $2.10 per share. The company realized an average gold price of $4,414 per ounce during the quarter.

Production Pulls Forward From Second Half Golden Ceasefires: Forget Fear, It's About the Global Reset Viljoen said second-quarter operational performance was modestly ahead of expectations, largely because some ounces initially expected in the third quarter were produced earlier than planned. The key contributors were Yanacocha and Lihir, which together delivered roughly 50,000 ounces that had been expected in the second half.

Lihir benefited from ongoing asset reliability work, while Newmont also cited stable performance from its Nevada Gold Mines joint venture. The company now expects about 49% of full-year production to have been delivered in the first half and 51% in the second half.

Newmont expects third-quarter production across the portfolio to be broadly in line with the second quarter before increasing in the fourth quarter, which Viljoen said is still expected to be the company’s strongest quarter of the year. The fourth-quarter increase is expected as Lihir completes planned maintenance in the third quarter and Ahafo North reaches its full run rate.

During the Q&A session, Viljoen said Ahafo North’s long-term operating level is expected to be 350,000 ounces per year.

Costs Remain Within Guidance Despite Oil Pressure Newmont said cost pressures increased during the second quarter, largely as expected, due in part to higher oil prices. Tabolt said gold all-in sustaining costs were $1,621 per ounce on a byproduct basis, below the company’s full-year guidance of $1,680 per ounce.

Tabolt said unit costs rose sequentially from the first quarter because of lower gold and silver production and sales volumes, lower byproduct contribution, higher Ghana royalties and higher diesel prices. He said Newmont continues to monitor oil-related pressures and their potential effects on explosives, cyanide, grinding media, labor, contractor spending and freight.

“For every $10 per barrel change in the price of oil, you’ll see on a full-year basis about a $60 million impact,” Tabolt said.

Viljoen highlighted several productivity initiatives aimed at offsetting external cost pressures, including parking nearly 50 mining production units across the portfolio without affecting production. She also cited increased underground productive time at Cerro Negro, milling efficiency improvements at Ahafo North, better wet-weather preparedness at Merian and reduced contract utilization where possible.

In response to analyst questions, Viljoen said open-pit operations with large fleets, including Boddington, Peñasquito, Lihir and Merian, are among the assets most exposed to energy costs. She said productivity improvements at those sites have reduced consumption.

Capital Spending Weighted to Second Half Newmont expects sustaining capital spending to be about 58% weighted toward the second half of 2026, driven by the timing of work at Boddington and Cadia, ventilation work at Tanami and seasonal construction at Brucejack and Red Chris. Development capital is expected to be 63% weighted toward the second half, reflecting work at major projects and feasibility activity at Red Chris.

Tabolt said Newmont remains on track for full-year sustaining capital guidance of $1.95 billion and development capital guidance of $1.4 billion. He said sustaining capital is expected to increase by roughly $150 million from the second quarter to the third quarter, with a similar increase in development capital.

At Cadia, Viljoen said production from the operating caves resumed in mid-June following an April 14 seismic event. Development work has returned to normal levels at PC1-2, but cave establishment at PC1-2 and PC2-3 remains halted pending regulatory approvals and additional safety work.

Viljoen said the existing operating caves have returned to background seismicity, while cave establishment work naturally involves higher seismic activity and requires additional controls. Newmont continues to expect no impact on full-year production guidance from the Cadia event.

Red Chris Advances Toward Investment Decision Newmont said the Red Chris block caving project received key regulatory approvals from the province of British Columbia, including an amended environmental assessment certificate through a consent-based process with the Tahltan Nation.

Viljoen said the company is now focused on completing the feasibility study and advancing the project toward board approval and a final investment decision. During the Q&A session, she said the project is undergoing internal technical and financial review to ensure it meets Newmont’s standards and hurdle rates.

She said expected capital costs are higher than the original numbers under Newcrest, primarily because of inflationary pressures across the project development sector. However, she said Newmont has used the feasibility process to improve design, reduce risk and improve economics, including lessons learned from a fall-of-ground incident last September.

Viljoen said Newmont expects to complete the review toward the end of the year for board consideration, but added that the company would delay “a month or three” if needed to ensure it can meet any capital and timing commitments.

Asked about a $500 million investment from the Canadian government, Viljoen said Newmont is still working on a memorandum of understanding with Canada’s major projects office to determine the terms and conditions of the grant.

Shareholder Returns and Portfolio Outlook Newmont returned approximately $1.8 billion to shareholders during the quarter through dividends and share repurchases, and about $1.9 billion since its prior earnings call, including July repurchases. Tabolt said the company has returned more than 80% of free cash flow for two consecutive quarters.

The company declared a quarterly dividend of $0.26 per share. Tabolt said Newmont repurchased $1.7 billion of shares under the $6 billion authorization approved in April, including more than $600 million in July to date, leaving about $4.3 billion available. Since launching its repurchase program more than two years ago, Newmont has reduced its share count by more than 100 million shares, or approximately 9%.

Newmont ended the quarter with $3.4 billion of net cash, modestly above the upper end of its target range of $1 billion plus or minus $2 billion. Tabolt said the position may fluctuate as the company funds capital programs, pays dividends and returns excess cash through buybacks.

Viljoen also addressed Newmont’s discussions with Barrick over Nevada Gold Mines, saying the company has been engaged for several months to address legal, technical and commercial differences related to joint venture management, past performance, a proposed IPO and excluded property contribution processes. She said several key issues remain unresolved but that Newmont remains committed to protecting shareholder rights and enforcing its legal rights if required.

Looking ahead, Viljoen said Newmont’s 12 managed operations remain part of the portfolio as long as they compete for capital and fit the company’s definition of world-class assets. She pointed to brownfield opportunities at Lihir, Cerro Negro, Ahafo South, Ahafo North, Brucejack and Merian, while describing Wafi-Golpu as further out in the development pipeline.

Newmont said it plans to review how it provides guidance in February 2027, including the potential reestablishment of multi-year guidance.

About Newmont (NYSE:NEM)Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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

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Newmont Corporation (NEM) Q2 2026 Earnings Call July 23, 2026 5:30 PM EDT

Company Participants

Neil Backhouse - Group Head of Treasury & Investor Relations
Natascha Viljoen - CEO, President & Director
Brian Tabolt - Executive VP & CFO

Conference Call Participants

Fahad Tariq - Jefferies LLC, Research Division
Hugo Nicolaci - Goldman Sachs Group, Inc., Research Division
Daniel Morgan - Barrenjoey Markets Pty Limited, Research Division
Richard Garchitorena - Barclays Bank PLC, Research Division
Anita Soni - CIBC Capital Markets, Research Division
Lawson Winder - BofA Securities, Research Division
Joshua Wolfson - RBC Capital Markets, Research Division
Daniel Major - UBS Investment Bank, Research Division
Tanya Jakusconek - Scotiabank Global Banking and Markets, Research Division

Presentation

Operator

Hello, and welcome to Newmont's Second Quarter 2026 Results Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Newmont's Group Head of Treasury and Investor Relations, Neil Backhouse. Neil, please go ahead.

Neil Backhouse
Group Head of Treasury & Investor Relations

Thank you, Holly. Hello, everyone, and thank you for joining Newmont's Second Quarter 2026 Results Conference Call. Joining me today are Natascha Viljoen, our President and Chief Executive Officer; Brian Tabolt, our newly appointed Executive Vice President and Chief Financial Officer; as well as other members of our management team who will be available to answer questions at the end of the call. Before we begin, please take a moment to review our cautionary statement shown here and refer to our SEC filings, which can be found on our website.

With that, I'll turn the call over to Natascha.

Natascha Viljoen
CEO, President & Director

Thank you, Neil, and hello, everyone. To begin today's call, I'd like to start by acknowledging the executive leadership appointments we announced last month, reflecting the depth and talent we have within Newmont and reinforcing our commitment to

Digital Realty Trust, Inc. (DLR) Q2 2026 Earnings Call July 23, 2026 5:00 PM EDT

Company Participants

Jordan Sadler - Senior VP of Public & Private Investor Relations
Andrew Power - President, CEO & Director
Matt Mercier - Chief Financial Officer
Colin McLean - Chief Revenue Officer
Gregory Wright - Chief Investment Officer
Chris Sharp - Chief Technology Officer

Conference Call Participants

Eric Luebchow - Wells Fargo Securities, LLC, Research Division
Nicholas Del Deo - MoffettNathanson LLC
Michael Rollins - Citigroup Inc., Research Division
Madison Rezaei - Bernstein Institutional Services LLC, Research Division
Jonathan Atkin - RBC Capital Markets, Research Division
Jonathan Petersen - Jefferies LLC, Research Division
Michael Ng - Goldman Sachs Group, Inc., Research Division
Richard Choe - JPMorgan Chase & Co, Research Division
Joseph Osha - Guggenheim Securities, LLC, Research Division

Presentation

Operator

Good afternoon, and welcome to the Digital Realty Second Quarter 2026 Earnings Call. Please note, this event is being recorded. [Operator Instructions]

I would now like to turn the call over to Jordan Sadler, Digital Realty's Senior Vice President of Public and Private Investor Relations. Jordan, please go ahead.

Jordan Sadler
Senior VP of Public & Private Investor Relations

Thank you, operator, and welcome, everyone, to Digital Realty's Second quarter 2026 Earnings Conference Call. Joining me on today's call are President and CEO, Andy Power; and CFO, Matt Mercier; Chief Investment Officer, Greg Wright; and Chief Technology Officer, Chris Sharp; and Chief Revenue Officer, Colin McLean, are also on the call and will be available for Q&A.

Management will be making forward-looking statements, including guidance and underlying assumptions on today's call. Forward-looking statements are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. For a further discussion of risks related to our business, see our 10-K and subsequent filings with the SEC. This call will contain certain non-GAAP financial information. Reconciliations to the most

Sunset clouds glow over pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau region, Kazakhstan, April 21, 2026. REUTERS/Pavel Mikheyev Purchase Licensing Rights, opens new tab

BEIJING, July 24 (Reuters) - Oil headed for weekly gains on Friday, as Houthi attacks on tankers in the Red Sea sparked worries about the closure of a second ​shipping chokepoint, while Kazakhstan temporarily cut output after its main export route ‌was forced to shut.

Brent futures eased 72 cents, or 0.72%, to $99.97 a barrel as of 0126 GMT, but remained on course for a 13.5% advance this week. West Texas Intermediate (WTI) futures fell 70 cents, ​or 0.76%, to $91.49 a barrel, on track for a 10.9% weekly rise.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

Brent had ​settled up 7% and WTI up 6.2% on Thursday, the first ⁠time since May that Brent settled above $100 after Iran-aligned Houthis said they had struck two ​Saudi oil tankers in the Red Sea.

Prices were driven up by fears that the attacks ​would lead to the closure of the Bab el-Mandeb shipping route, which controls access from the Red Sea to the Indian Ocean and is the second most important oil channel after the Strait of ​Hormuz.

U.S. President Donald Trump vowed to "hold Iran responsible" for any further attacks.

The Iran-aligned Houthis ​had declared on Monday that they were imposing a naval blockade on Saudi Arabia, which had been diverting ‌its ⁠oil via pipeline to get around Iran's closure of the Strait of Hormuz.

Iran had been pressing the Houthis to close the Bab el-Mandeb gateway to the Red Sea if the U.S. continued to attack Iranian power infrastructure, after an interim truce between the two ​countries collapsed two weeks ​ago.

"The noose around global ⁠energy supply routes is pulling tighter again," IG market analyst Tony Sycamore said in a note.

Also on Thursday, Kazakhstan's energy ministry said ​oil companies temporarily cut back production after suspected Ukrainian drone attacks forced ​the country's ⁠main Black Sea export terminal to close.

The Caspian Pipeline Consortium stopped receiving oil from Kazakhstan after suspending loadings because of attacks on tankers at the terminal, industry sources had said on ⁠Tuesday. The ​route handles about 2% of global daily crude ​supply.

Kazakhstan's energy ministry did not specify the scale of the production reductions, but one source said the country's biggest ​field had cut output by more than half.

Reporting by Colleen Howe; Editing by Kevin Buckland

Our Standards: The Thomson Reuters Trust Principles., opens new tab

EUR/USD gains ground after posting modest losses in the previous day, trading around 1.1380 during the Asian hours on Friday. However, the potential upside for the pair could be limited as the US Dollar (USD) may regain strength, largely driven by escalating conflicts in the Middle East that threaten to push crude oil prices higher. An oil-driven inflation spike has fueled expectations that the US Federal Reserve (Fed) might resume raising interest rates.

According to the CME FedWatch tool, money markets are currently pricing in roughly a 35.8% chance of a Fed rate hike this month, alongside an 82.1% probability of at least a quarter-point hike in September.

Geopolitical tension continues to surge following reports that Yemen’s Iran-backed Houthi militant group attacked two Saudi oil tankers in the Red Sea for allegedly violating a blockade. In response, the US conducted its 13th consecutive night of military strikes on Iran. Tensions escalated further after US President Donald Trump warned of "major military punishment" for both the Houthis and Iran if attacks continue, stating he is close to deciding on a massive, unprecedented military operation against Iran.

Simultaneously, trade concerns are mounting after Bloomberg reported that the United States plans to impose new tariffs ranging between 10% and 12.5% on imports from major trading partners. This marks a major effort to rebuild the Trump administration's trade barrier following a recent Supreme Court ruling. Under this plan, imports from the European Union will face tariffs of at least 10%, structured to remain compliant with existing US-EU trade agreements.

Market participants process the European Central Bank’s (ECB) latest monetary policy decisions. While the ECB Governing Council reaffirmed its commitment to bringing inflation down to its 2% medium-term target, it cautioned that high uncertainty persists and the full inflationary impact of the energy shock has yet to materialize. Following a 25-basis-point rate hike in June, the ECB opted to hold its key interest rates steady, keeping the deposit facility, main refinancing, and marginal lending rates at 2.25%, 2.40%, and 2.65%, respectively.

Euro FAQs The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).

The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.

Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.

Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.

Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

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