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New York, New York--(Newsfile Corp. - July 23, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Zoetis Inc. (NYSE: ZTS) between January 14, 2025 and May 6, 2026, inclusive (the "Class Period"), of the important July 27, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Zoetis securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Zoetis class action, go to https://rosenlegal.com/cases/zoetis-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 27, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and touted growing market share, strong veterinarian adoption, and accelerating sales growth across Zoetis' flagship Companion Animal products and/or failed to disclose that: (1) veterinarian prescription growth and adoption of Zoetis' Librela, a canine pain treatment, were sharply weakening as clinicians became more cautious following FDA safety warnings concerning serious neurological complications in dogs; (2) Zoetis' Simparica Trio was losing significant market share to a lower priced competing canine parasiticide with broader indicated use in a slowing overall market; and (3) Zoetis' dermatology products, Apoquel and Cytopoint, were losing substantial market share to a newly launched competing canine treatment. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Zoetis class action, go to https://rosenlegal.com/cases/zoetis-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306332

Source: The Rosen Law Firm PA

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The 3 Biggest M&A Stock Opportunities for 2025United Rentals NYSE: URI reported record second-quarter revenue and earnings while raising its 2026 outlook, as management said large projects and specialty rental demand continued to run ahead of expectations.

President and CEO Matt Flannery said the company’s growth “accelerated in the quarter,” supported by customers that “remain optimistic, particularly around large projects,” along with continued cost discipline. He said the company’s equipment breadth, technology, service levels and safety focus continue to differentiate United Rentals in the market.

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3 large caps near 52-week lows with large dividendsTotal revenue rose 12% year over year to $4.4 billion, while rental revenue increased nearly 13% to $3.8 billion. Both were quarterly records, according to Flannery. Adjusted EBITDA was just over $2 billion, representing a margin of 46.6%, and adjusted earnings per share were $12.76, up 22% from a year earlier and also a quarterly record.

Large Projects and Specialty Rentals Drive Growth Flannery said United Rentals saw growth in both its General Rentals and specialty businesses. Specialty rental revenue increased 25% year over year, with growth across all lines of business and 11 cold starts during the quarter.

3 Compelling Cyclical Stocks to Buy NowBy vertical, Flannery said construction posted strong growth, led by nonresidential and infrastructure activity. On the industrial side, power continued to deliver double-digit growth, while metals and minerals also grew at a healthy pace. He said project activity started in a range of end markets, including hospitals, airports and LNG terminals, while data centers remained a source of growth.

During the question-and-answer portion of the call, Flannery said the major project pipeline was “stronger and deeper,” citing activity tied to power, semiconductor projects, infrastructure, airports, stadiums and pharmaceuticals. He also said semiconductor-related work and power projects accelerated in the second quarter.

Local markets, by contrast, were described as stable with modest growth. Flannery said local customer activity grew in the low single digits and suggested that lower interest rates, residential construction growth and renewed small-business investment could help spur broader local market improvement.

Fleet Productivity, CapEx and Used Equipment Sales Fleet productivity contributed 3.4% to original equipment rental, or OER, growth of 9% in the quarter, Flannery said. CFO Ted Grace said OER increased by $246 million, driven by 7.1% growth in average fleet size and fleet productivity of 3.4%, partially offset by assumed fleet inflation of 1.5%.

Ancillary and re-rent revenue grew nearly 28%, adding a combined $188 million, Grace said. He noted that the company has been able to pass through higher fuel and delivery costs, though those revenues brought limited incremental margin dollars.

United Rentals sold $624 million of original equipment cost, or OEC, in the used market during the quarter, generating $330 million in proceeds, an adjusted margin of 47.3% and a 52.9% recovery rate. Flannery said the company remains on track to sell approximately $2.8 billion of fleet this year, supported by strong used equipment demand.

The company spent nearly $2.1 billion on gross rental capital expenditures in the second quarter and $2.9 billion year to date, exceeding its initial expectations. Flannery said the demand environment is outpacing the company’s original expectations, and the company is operating at “historically high time utilizations.”

In response to analyst questions, Flannery said United Rentals would not add fleet simply to chase late-2026 revenue. He said the company has confidence in the large project pipeline carrying into next year, though management did not provide 2027 guidance.

Margins and Cost Controls Remain in Focus Grace said adjusted EBITDA, excluding a $49 million net benefit from the sale of the company’s scaffolding business, increased $197 million year over year to a second-quarter record of just over $2 billion. The increase was primarily driven by a $231 million increase in rental gross profit and a $3 million increase in used gross profit. Selling, general and administrative expense rose $39 million but was flat as a percentage of revenue.

On an as-reported basis, second-quarter adjusted EBITDA margin increased 70 basis points year over year. Excluding the scaffolding gain and the outsized growth in ancillary and re-rent revenue, Grace said margins increased 40 basis points year over year, which he said provided a better view of core cost performance.

Management fielded several analyst questions about delivery, repositioning, labor and repair costs. Grace said the company’s core cost categories of labor, delivery and repair and maintenance showed positive absorption year to date and in the second quarter. Flannery said the company has changed processes and increased coordination to better manage delivery and repositioning costs, despite higher fuel costs.

Grace said higher internal fuel costs represented an incremental 20 to 30 basis points of year-over-year headwind in the quarter. He also said the company realized approximately $12 million of second-quarter benefit from restructuring activities and remains on track for $45 million to $50 million of realized savings in 2026.

Guidance Raised for 2026 United Rentals raised its full-year 2026 guidance, with management saying demand continued to exceed expectations as the company progressed through its busy season.

Total revenue: Now expected between $17.5 billion and $17.8 billion, up $500 million from prior guidance. Adjusted EBITDA: Raised by $300 million to a range of $7.975 billion to $8.125 billion. Gross rental CapEx: Increased by $450 million to a range of $4.85 billion to $5.25 billion. Net CapEx: Expected between $3.4 billion and $3.8 billion. Free cash flow: Reaffirmed at $2.15 billion to $2.45 billion. Used equipment sales: Still expected around $1.45 billion. Grace said the updated outlook implies full-year growth excluding used sales of more than 10% at the midpoint, compared with original guidance closer to 6%. He said the company still expects to maintain flat margins year over year while bringing revenue growth to the bottom line.

Balance Sheet and Capital Returns United Rentals generated nearly $1.2 billion of free cash flow year to date after funding growth, according to Flannery. Grace said return on invested capital was 11.8%, remaining above the company’s weighted average cost of capital.

Net leverage was 1.8 times at the end of June, within the company’s target range of 1.5 times to 2.5 times, and total liquidity was nearly $3 billion. Grace said S&P recently raised the company’s credit outlook to positive from stable, with the potential for an upgrade from high yield to investment grade within the next 12 months.

Grace said a potential investment-grade rating would not change United Rentals’ capital allocation strategy, adding that management believes the company can pursue an upgrade without constraining its ability to execute on mergers and acquisitions.

The company returned nearly $500 million to shareholders during the quarter through share repurchases and dividends. Year to date, it has returned $998 million, including $750 million through repurchases and $248 million through dividends. Grace said United Rentals still intends to repurchase $1.5 billion of shares in 2026, and combined with the dividend, expects to return roughly $2 billion to shareholders this year.

Flannery said the M&A pipeline remains “robust,” with opportunities across deal sizes. He said specialty rental offerings and new product areas remain priorities, while the company also continues to evaluate deals that could fill geographic or product gaps.

About United Rentals (NYSE:URI)United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.

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 logo of Malaysian energy group National Petroleum Limited, commonly known as PETRONAS, is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia,... Purchase Licensing Rights, opens new tab Read more

CompaniesJAKARTA, July 24 (Reuters) - Searah, the joint venture energy company formed by Italy's Eni and Malaysia's Petronas, has started ​developing a floating gas facility to process ‌gas from its $11.8 billion North Hub project in Indonesia, the Indonesian government said.

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The company held a first steel cutting ceremony on ​Thursday to kickstart the construction of the Floating Production, Storage, ​and Offloading (FPSO) vessel, which will be a processing hub for ⁠16 wells from the Geng North and Gehem ​gas fields, the Energy and Mineral Resources Ministry ​said.

The two gas fields make up Searah's North Hub project in Indonesia's Kutai Basin, off Borneo island. The project is ​targeted to start production in 2028, the ministry said ​in a statement late on Thursday.

Production is expected to reach 1 billion ‌cubic ⁠feet of gas per day and 80,000 barrels of condensate per day by the fourth quarter of 2028.

Of the total $11.8 billion investment in the project, around $2.9 ​billion was ​allocated to ⁠develop the FPSO, Djoko Siswanto, head of the upstream oil and gas regulator ​SKK Migas, said in the same statement.

"Today's ​achievement ⁠demonstrates our continued confidence in Indonesia's energy sector, as well as our long-term commitment to continue investing, ⁠growing, ​and creating value in this ​country," Mirko Araldi, an executive of Eni North Ganal Ltd, was quoted ​as saying.

Reporting by Fransiska Nangoy; Editing by David Stanway

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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In PicS To Contact Him Directly To Discuss Their Options

If you purchased or acquired PicS Class A Common stock in and/or traceable to PicS' January 30, 2026 initial public offering ("IPO") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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New York, New York--(Newsfile Corp. - July 23, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PicS N.V. ("PicS" or the "Company") (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.

On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share.

Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.

On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding PicS' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the PicS N.V. class action, go to www.faruqilaw.com/PICS or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Frequently Asked Questions (FAQ) for Investors Regarding the PicS N.V. Securities Class Action Lawsuit:

What is the PicS N.V. securities fraud lawsuit about?

The PicS N.V. securities fraud lawsuit is a federal securities class action alleging that PicS N.V. (NASDAQ: PICS) and its executives made false and misleading statements to investors in connection with the Company's January 30, 2026 IPO by concealing that the Company had already identified deficiencies in its credit evaluation procedures in December 2025, had reclassified approximately R$590 million of exposures from Stage 2 to Stage 3 (its highest credit risk category) resulting in an incremental expected credit loss charge of R$88 million, and was experiencing a Stage 3 formation rate exceeding 7% in Q4 2025 — a significant deviation from the historical trends presented in the IPO's offering documents. As the truth emerged on March 18, 2026, when PicS disclosed these credit portfolio deteriorations as part of its Q4 2025 financial results, PICS shares fell $3.56 per share, or 22.5%, to close at $12.27 — well below the $19.00 IPO price — causing significant losses for investors.

Who may be eligible to participate in the PicS N.V. class action lawsuit?

Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the Company's January 30, 2026 initial public offering and suffered financial losses may be eligible to participate in the PicS securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former PicS employees, and others with relevant information about the Company's conduct are also encouraged to come forward.

What is a lead plaintiff, and how can I seek appointment in the PicS N.V. lawsuit?

A lead plaintiff in the PicS N.V. class action is a court-appointed investor — typically the one with the largest financial interest in the case — who directs and oversees the litigation on behalf of all class members. Any PicS investor who purchased PICS Class A common stock in or traceable to the IPO may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is August 4, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.

What should investors do if they purchased PicS N.V. stock in the IPO?

Investors who purchased PicS N.V. (PICS) Class A common stock in and/or traceable to the January 30, 2026 IPO and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the PicS N.V. securities class action is August 4, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/PICS for more information.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306126

Source: Faruqi & Faruqi LLP

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On Thursday, July 23, Cathie Wood’s ARK Invest purchased almost $60 million worth of Tesla, Circle Internet Group and Securitize Corp. stock. The purchases coincided with a dramatic sell-off in U.S. stocks. Inflation-driven higher oil prices, higher US Treasury yields and a strong dollar led to a bearish investor sentiment.

Cathie Wood Bets Big On Tesla, Circle, Securitize Stocks Elon Musk’s Tesla was ARK’s biggest purchase of the day. The EV company fell 14.52% to close at $319.69. ARK purchased roughly $51.20 million in Tesla stock via its four exchange-traded funds (ETFs), per the stock’s closing price.

Tesla stock price chart. Source: Yahoo! Finance Cathie Wood’s ARKK ETF added approximately $31.58 million worth of 98,782 TSLA shares. ARKQ’s total number of added Tesla shares added was 30,396, worth $9.72 million. Moreover, ARKW purchased 21,048 Tesla shares at $6.73 million, while ARKX bought 9,925 shares at $3.17 million. Recently, ARK also invested $14 million in SpaceX stock as the share price continued declining despite Tesla merger talks.

Additionally, ARK has raised its stake in Circle Internet Group. The stablecoin provider closed at $62.18, losing over 6%. At this closing, ARK’s purchase of CRCL stock is worth around $8.09 million.

Here is every move that Cathie Wood and Ark Invest made in the stock market today 7/23 pic.twitter.com/f2qHkLBUoN

— Ark Invest Tracker (@ArkkDaily) July 24, 2026

According to ARK Invest’s disclosure, ARKK purchased approximately $5.74 million in Circle stock for a total of 92,352 shares. Nearly $1.63 million worth of shares were added to the ARKW stock. The company, ARKF, bought 11,512 shares that cost about $715,216.

The Cathie Wood-led firm also bought 48,377 shares of Securitize Corp through ARKF. The stock closed at $7.30, down 4.82%. An estimated $353,152 was paid for the purchase at the closing price.

The U.S. Stock Market Plummets Hard Cathie Wood’s shopping spree occurred while the U.S. stock market registered a crash. Overnight, prices for Brent crude oil rose above $101. Treasury yields and the U.S. dollar also gained. Technology stocks were among the worst hit by the sell-off. Tesla, Alphabet, Nvidia, Meta, Amazon and Oracle stocks were among the worst affected.

The Dow Jones Industrial Average fell 506.93 points, or 0.97%, to 51,711.65. The Nasdaq Composite dropped 553.21 points, or 2.15%, to 25,137.69. The S&P 500 lost 90.66 points, or 1.21%, to close at 7,408.30.

Charles Schwab’s Head Trading and Derivatives Strategist Joe Mazzola commented on the recent tech earnings miss. He said, “Earnings were mostly positive for Alphabet and somewhat disappointing for Tesla. Alphabet raised spending forecasts and Tesla confirmed that 2026 remains a ‘massive’ spending year, giving chip firms a lift.”

He further added, “It wasn’t enough to overcome geopolitical headwinds, and worries intensified in the bond market, where the benchmark 10-year note yield posted a new 2026 high of 4.71%. In the background, chances of a Federal Reserve rate hike next week keep climbing as oil raises inflation concerns, reaching 38% according to the CME FedWatch Tool.”

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The New York Times reports that a strike on the Saudi-owned tanker Encelia in the Red Sea has pushed oil prices above $100 a barrel. The incident, which occurred on July 23, involved a fire on the vessel and comes amid claims of responsibility from the Houthis, who alleged that two Saudi tankers, including Encelia, violated a maritime blockade. The price of Brent crude, a global benchmark, surged to its highest level in over a month, reflecting concerns over supply risks in key shipping lanes. Saudi state media confirmed the attack but stated that all crew members were safe.

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Key Takeaways Market activity suggests a heightened probability of oil reaching a new all-time high, with prices sharply increasing following the incident. The market’s response indicates that participants view geopolitical tensions in the Middle East as supportive of a YES outcome for oil price hikes. Recent movements in oil markets appear consistent with increased supply-risk concerns, driving up short-term price expectations. What to Watch Watch for further developments involving geopolitical tensions in the Middle East, which could influence oil market dynamics significantly. Statements or actions by key figures such as OPEC’s Mohammad Sanusi Barkindo or Saudi Energy Minister Abdulaziz bin Salman Al Saud may provide further indications of potential market shifts. Additionally, any new reports of strikes or disruptions in key shipping lanes could further affect market expectations for oil prices reaching new highs by the end of the year.

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

On July 23, 2026, Marriott Vacations Worldwide Corp (VAC) shares fell 3.3% to a current price of $93.82. The stock is trading within a 52-week range of $44.58 t

Key Highlights

USD/JPY started a fresh increase above 163.20 and 163.50. A key bullish trend line is forming with support at 163.00 on the 4-hour chart. EUR/USD is struggling below the 1.1450 resistance zone. WTI Crude Oil prices rallied further above $92.00 and $92.50. USD/JPY Technical Analysis The US Dollar started a fresh increase from 162.65 against the Japanese Yen. USD/JPY cleared the key hurdle at 163.20 to enter a bullish zone.

Looking at the 4-hour chart, the pair settled above 163.20, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The pair traded as high as 163.98 and started a consolidation phase.

On the upside, the pair could face resistance near 164.00. The next major resistance might be 164.40. A close above 164.40 could start another steady increase.

In the stated case, the bulls could aim for a move to 165.00. Any more gains might open the doors for a test of 165.20. If there is a downside correction, the pair might find bids near 163.50. The first major support could be near 163.20.

The main support might be 163.00. There is also a key bullish trend line forming with support at 163.00. A downside break and close below 163.00 might send the pair toward the 100 simple moving average (red, 4-hour) at 162.30. Any more losses could open the doors for a test of 162.00.

Looking at WTI Crude Oil, the bulls remained in action, and they might soon aim for a move above the $95.00 level.

Upcoming Key Economic Events:

US S&P Global Manufacturing PMI for June 2026 (Preliminary) – Forecast 54.5, versus 53.9 previous. US S&P Global Services PMI for June 2026 (Preliminary) – Forecast 51.0, versus 51.2 previous.

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Columbia Banking System, Inc. (COLB) Q2 2026 Earnings Call Transcript

The closure of crypto derivatives exchange BitMEX is prompting fresh questions about whether the industry is entering a new phase of consolidation, as analysts point to market-share concentration and rising regulatory costs squeezing smaller platforms.

While BitMEX helped pioneer perpetual swaps that became a cornerstone of digital asset derivatives trading, its daily Bitcoin futures volume began declining around May 2021 and never recovered to its 2020 daily peak of between $1 billion and $5 billion, according to data from CryptoQuant.

Restructuring adviser Roshan Dharia told Cointelegraph the exchange’s demise reflects structural pressures facing mid-sized centralized exchanges, where liquidity has increasingly concentrated among the industry’s largest players and regulatory compliance costs continue to rise. He said:

The top five platforms now control an estimated 80% of global spot volume, leaving mid-tier and regional exchanges with shrinking margins and no viable path to scale... The headwinds are structural, not cyclical.Source: BitMEX

The fall of BitMEXBitMEX, the crypto derivatives exchange founded in 2014 by Arthur Hayes, Ben Delo and Samuel Reed, announced on Thursday that it will shut down. Trading is scheduled to end on Sept. 23 following a strategic review by parent company HDR Global Trading.

The shutdown announcement also triggered a sharp sell-off in BitMEX’s utility token, BMEX, which plunged more than 90% after the exchange revealed plans to wind down operations. 

BMEX token drops over 90%. Source: CoinMarketCap.

The announcement came after years of declining market share. CoinGecko ranked BitMEX ninth among derivatives exchanges in August 2023 with a 0.9% share of trading volume. By 2025, it no longer appeared among the firm’s top 10 perpetual exchanges, even as annual perpetual trading volume across those platforms climbed 47.4% to a record $86.2 trillion.

The rise of regulated competitorsBitMEX rose to prominence by offering offshore perpetual derivatives years before similar products became available through regulated venues. Today, those same products are increasingly offered through licensed exchanges in jurisdictions including the United States and the United Kingdom.

In the US, Coinbase launched perpetual-style futures through a Commodity Futures Trading Commission-regulated exchange in May after receiving no-action relief from the regulator. The CFTC also approved Bitcoin perpetual futures for Kalshi. In June, Kraken followed with CFTC-regulated perpetual futures for eligible US traders through its recently acquired Bitnomial exchange.

The trend has also extended beyond the United States. This month, Coinbase secured a UK investment services license allowing it to expand its derivatives business ahead of the country’s new crypto regulatory regime.

Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach

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

BitMEX shuts down as analysts warn of accelerating crypto consolidation

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.

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