Track market-moving stories before they get noisy

The new logo of SLB is seen in this undated handout image obtained by Reuters on October 19, 2022. SLB/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. Purchase Licensing Rights, opens new tab

CompaniesJuly 14 (Reuters) - SLB (SLB.N), opens new tab said on Tuesday it has partnered with Liberty Energy (LBRT.N), opens new tab to supply modular ​parts and power to data centers, ‌as the oilfield services firms look to tap surging demand from the AI boom.

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

Under the deal, ​SLB said it would design and ​supply modular and prefabricated components for data ⁠center projects, while Liberty will provide natural ​gas-fired power generation.

The deal reflects a broader push ​by oilfield contractors to supply power equipment, turbines and data solutions.

SLB is already a design partner for modular ​AI data centers built on Nvidia (NVDA.O), opens new tab technology, ​and is working with the U.S. chip firm to ‌create ⁠a platform, AI Factory for Energy, to help oil and gas producers and power companies apply AI to vast troves of ​operational data.

SLB ​has shipped ⁠more than 1.3 GW of prefabricated modular data center infrastructure since ​April 2024 and expects cumulative deliveries ​to ⁠exceed 2 GW globally by year-end. Liberty plans to deploy about 3 GW of ⁠power ​projects by 2029.

SLB sold its North ​American hydraulic fracturing business to Liberty in 2020.

Reporting by ​Katha Kalia in Bengaluru; Editing by Vijay Kishore

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

BEVERLY HILLS, Calif., July 14, 2026 (GLOBE NEWSWIRE) -- Kartoon Studios, Inc. (NYSE American: TOON) ("Kartoon Studios" or the "Company"), a global entertainment company creating, producing, distributing and licensing children's and family content, today announced that it has received the initial cash payment of approximately $39.2 million from its previously announced litigation settlements.

Following receipt of the initial settlement payment, Kartoon Studios has more than $40 million in cash and cash equivalents and no debt as of June 30, 2026, providing one of the strongest balance sheets in the Company's history. Importantly, the settlement proceeds were entirely non-dilutive, strengthening the Company's financial position without issuing a single additional share of stock or incurring debt. As a result, the Company is confident in its ability to execute its current strategic growth initiatives without any present need for additional equity financing or other dilutive capital.

"This is a transformational moment for Kartoon Studios," said Andy Heyward, Chairman and CEO of Kartoon Studios. "Our balance sheet has been strengthened with non-dilutive capital, allowing us to significantly increase our financial flexibility while preserving shareholder ownership. With more than $40 million in cash and cash equivalents and no debt as of June 30, 2026, we believe we have the resources necessary to execute our strategic plan from a position of strength while maintaining our disciplined approach to capital allocation."

Heyward continued, "The timing of this capital could not be more important. After more than five years of creative development and investment in precious key IP, we are approaching what we believe will be the two most significant franchise launches in Kartoon Studios' history.

 Copyright Kartoon Studios, Inc. 2026 

Hundred Acre Wood is our reimagining of the original A.A. Milne stories that introduced the world to Winnie-the-Pooh, one of the most beloved and commercially successful children's properties ever created. Alongside it, we have launched the Stan Lee Universe, beginning with Stan Lee's Superhero Pets, inspired by the imagination of the legendary Stan Lee, creator or co-creator of many of the world's most iconic superheroes, and one of the most commercially successful creators in entertainment history.

 Copyright Kartoon Studios, Inc. 2026

These are not simply new productions. They represent the culmination of years of investment in building enduring entertainment franchises with global licensing, merchandising, publishing, and distribution potential. Together with our expanding consumer products business and our owned streaming platforms, including Kartoon Channel! and Ameba, these launches represent the foundation of the Company's next phase of growth. We now have the financial strength to invest behind these launches from a position of confidence and stability and maximize their long-term value for our shareholders."

As previously disclosed on June 17, 2026, the U.S. District Court for the Southern District of New York entered the settlement agreements reached to date in the shareholder action Augenbaum v. Anson Investments Master Fund LP et al. (Case No. 1:22-CV-00249-AS). Under those settlements, Kartoon Studios is entitled to receive aggregate settlement proceeds of approximately $78.5 million, before counsel fees and other advisor costs.

The remaining settlement proceeds are held in escrow pending payment of final counsel fees and other advisor costs, after which the Company expects to receive the remaining net balance from escrow.

The Company believes its strengthened balance sheet positions Kartoon Studios to accelerate investment across its growing portfolio of owned intellectual property as it prepares for the commercial launch of Hundred Acre Wood and the Stan Lee Universe over the coming year. Combined with expanding licensing and merchandising initiatives, strategic global distribution relationships, and owned digital distribution platforms, the Company believes it is well positioned to build higher-margin recurring revenue streams and execute its long-term strategy of becoming a scaled global children's and family entertainment company centered on valuable, wholly owned franchises with enduring worldwide appeal.

About Kartoon Studios
Kartoon Studios (NYSE American: TOON) is a global, vertically integrated children’s and family entertainment company turning owned and controlled intellectual property into enduring, multi-platform franchises. The Company develops, produces, distributes, licenses and monetizes content across the full value chain, creating multiple revenue opportunities and long-term brand value.

Kartoon Studios’ growth portfolio includes Hundred Acre Wood’s Winnie & Friends and the Stan Lee Universe, alongside established brands and an extensive programming library. The Company operates Mainframe Studios and Toon Media Networks, as well as Beacon Media Group, a full-service marketing, communications, and media agency subsidiary of Kartoon Studios focused on children and family. Together, these assets provide production capabilities, direct audience access and distribution across linear television, AVOD, SVOD, FAST channels and streaming platforms in more than 60 territories. Kartoon Studios is focused on converting its intellectual property, infrastructure and global reach into scalable franchise growth and long-term shareholder value.

For more information, visit www.kartoonstudios.com.

Important Cautions Regarding Forward-Looking Statements

Certain statements in this press release that are not historical facts may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and are subject to risks and uncertainties. Forward-looking statements include statements concerning executing the Company’s current strategic growth initiatives without any present need for additional equity financing or other dilutive capital, having the resources necessary to execute the Company’s strategic plan from a position of strength while maintaining a disciplined approach to capital allocation, approaching the two most significant franchise launches in Kartoon Studios' history, the launches representing the foundation of the Company's next phase of growth together with its expanding consumer products business and owned streaming platforms, investing behind these launches from a position of confidence and stability and maximize their long-term value for the Company’s shareholders, being positioned to accelerate investment across a growing portfolio of owned intellectual property as the Company prepares for the commercial launch of Hundred Acre Wood and the Stan Lee Universe over the coming year, the Company being well positioned to build higher-margin recurring revenue streams and execute its long-term strategy of becoming a scaled global children's and family entertainment company centered on valuable, wholly owned franchises with enduring worldwide appeal and converting the Company’s intellectual property, infrastructure and global reach into scalable franchise growth and long-term shareholder value. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “will” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are based on the Company’s current plans, estimates, assumptions and expectations and are not guarantees that such plans, estimates or expectations will be achieved. Actual events, results and performance may differ materially from those expressed or implied by these forward-looking statements due to various risks, uncertainties and other factors, including the Company’s ability to execute its business strategy and growth initiatives; changes in general economic, financial, market and industry conditions, the Company’s ability to execute its current strategic growth initiatives without any need for additional equity financing or other dilutive capital, having the resources necessary to execute the Company’s strategic plan from a position of strength, the ability to successfully launch the Company’s franchises, the Company's ability to enter its next phase of growth together and expand its consumer products business and owned streaming platforms, the ability to maximize long-term value for the Company’s shareholders, the ability to accelerate investments across a growing portfolio of owned intellectual property, the ability to obtain financing when needed; the Company’s ability to keep pace with technological advances; the Company’s ability to protect its intellectual property and other risks described under the heading “Risk Factors” in Part I, Item 1A of the Company’s most recent Annual Report on Form 10-K and in its other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Additional risks and uncertainties that are not currently known to the Company or that the Company currently considers immaterial may also cause actual events, results or performance to differ materially from those expressed or implied by the forward-looking statements. All forward-looking statements speak only as of the date of this press release, and Kartoon Studios undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

INVESTOR RELATIONS CONTACT:
Lytham Partners, LLC
Robert Blum
602-889-9700
[email protected]

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c8405e4d-1545-4935-b9c2-1762ca499fc4
https://www.globenewswire.com/NewsRoom/AttachmentNg/e0cf0186-d0ce-40d4-a456-7a03ee8bc9b7

Key Takeaways Delek expects its optimization plan to generate about $220M in annual cash flow improvements.PBF generated more than $230M in annualized savings through its RBI initiative during 2025.DK offers diversified cash flows, while PBF's recovery could unlock significant earnings improvement. Independent refiners continue to benefit from a favorable industry backdrop, supported by healthy crack spreads, resilient fuel demand, constrained global refining capacity and ongoing geopolitical tensions in the Middle East, which have contributed to uncertainty in energy markets. Companies that can efficiently operate their refining assets while maintaining financial discipline are well positioned to capitalize on these favorable market conditions.

Two notable players in the sub-industry are Delek US Holdings, Inc. (DK - Free Report) and PBF Energy Inc. (PBF - Free Report) . While both operate diversified refining systems across the United States, their investment stories are quite different. Delek is building on operational improvements and the steady growth of its logistics business to drive more consistent earnings. PBF, meanwhile, is focused on completing the turnaround of its Martinez refinery while lowering costs through company-wide efficiency initiatives. With both companies benefiting from improving refining fundamentals, which stock deserves investors' attention today?

Delek Builds on Operational StrengthDelek entered 2026 with improving operational momentum despite reporting a GAAP net loss in the first quarter. The company generated adjusted EBITDA of $211.7 million, a sharp improvement from $33.6 million in the year-ago quarter, while adjusted earnings per share came in at 8 cents in the first quarter. Higher benchmark crack spreads, which climbed nearly 64% year over year, played a major role in supporting the company's profitability.

The refining segment remained Delek's primary earnings driver, generating adjusted EBITDA of $155.3 million following the successful completion of the planned turnaround at its Big Spring refinery. In addition, Delek Logistics continued to provide stable cash flows by delivering adjusted EBITDA of $132.4 million, supported by stronger wholesale margins and higher third-party volumes.

Another positive for Delek is its Enterprise Optimization Plan. Management expects the initiative to generate nearly $220 million in annual cash flow improvements, which should further strengthen profitability over time. Combined with its diversified business model, these initiatives provide Delek with greater earnings visibility and reduce its dependence on refining margins alone.

PBF Offers a Compelling Turnaround OpportunityUnlike Delek, whose investment case is centered on operational consistency, PBF's investment thesis depends largely on the successful recovery of its refining operations.

The company reported first-quarter net income attributable to shareholders of $198.3 million, benefiting from insurance recoveries and improving operations following the Martinez refinery outage. Although adjusted earnings remained under pressure due to temporary operational challenges, management expects Martinez to return to planned operating rates shortly, restoring one of the company's most valuable assets.

PBF is also making steady progress through its Refining Business Improvement ("RBI") initiative. The program generated more than $230 million in annualized savings during 2025 and management expects cumulative annualized savings to exceed $350 million by the end of 2026. Along with nearly $1 billion in insurance recoveries related to the Martinez incident, these cost-saving initiatives could significantly improve earnings as refinery utilization normalizes.

While PBF's recovery story carries greater execution risk than Delek's, it also provides meaningful upside potential if management successfully delivers on the turnaround strategy.

DK vs. PBF: Performance, Valuation and Growth OutlookBoth companies have benefited from improving industry conditions, but investors have rewarded Delek more aggressively. Over the past six months, DK’s shares have rallied 92.5%, outperforming PBF's impressive 75.8% gain. The stronger share-price performance reflects investors' confidence in Delek's consistent execution, operational improvements and diversified earnings base.

Image Source: Zacks Investment Research

Market has also become increasingly optimistic about both refiners.

Image Source: Zacks Investment Research

Over the past 60 days, the Zacks Consensus Estimate for 2026 earnings has increased 40.35% for DK and 33.01% for PBF. The upward estimate revisions suggest analysts expect refining fundamentals to remain supportive while company-specific initiatives continue to improve earnings.

Valuation, however, paints a different picture.

Image Source: Zacks Investment Research

Delek currently trades at a forward 12-month P/E multiple of 14.73X, while PBF trades at just 7.89X. Although Delek commands a premium valuation due to its stronger operational execution and more diversified earnings streams, PBF's discounted multiple could offer attractive upside if the Martinez refinery continues operating smoothly and the RBI program delivers its targeted savings.

Which Stock Should Investors Choose?Both Delek and PBF currently carry a Zacks Rank #3 (Hold), meaning neither stock has a ranking advantage. Instead, investors should evaluate the companies based on their risk tolerance and investment objectives. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Delek appears better suited for investors seeking a more balanced investment. The company benefits from improving refinery operations, stable cash flows from its logistics business and ongoing optimization initiatives that are expected to enhance long-term profitability. These strengths provide greater earnings visibility and justify its premium valuation. PBF, on the other hand, is the more aggressive investment choice.

The successful restart of the Martinez refinery, expanding cost savings under the RBI initiative and substantial insurance recoveries could drive a meaningful earnings rebound over the next several quarters. However, the investment thesis remains more dependent on flawless execution.

Overall, Delek stands out as the stronger all-around investment due to its operational momentum, diversified earnings profile and stronger financial visibility. PBF remains an attractive turnaround story and investors willing to accept higher execution risk may be rewarded if management successfully delivers on its recovery plans. For conservative investors, however, Delek's consistent execution and more predictable growth profile make it the better choice today

SAN DIEGO, July 14, 2026 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company specializing in defense, national security, and global markets, today announced that it has recently received approximately $400 million in funding from the Department of War (DoW) related to certain hypersonic system and other National Security related programs. Kratos is an industry leader in the engineering, development, production and integration of hypersonic systems, flight vehicles, solid rocket motors and other high-speed systems and vehicles. 

Dave Carter, President of Kratos’ Defense and Rocket Support Services Division, said, “Kratos is a leader in high-speed National Security Systems, including ballistic missile targets, flight test vehicles and recently, tactical systems, where Kratos’ rapid design, engineering, development, flight and fielding capabilities of systems that can be mass produced at low-cost points are clear differentiators for our Company. Kratos’ new Nemesis and Kraken initiatives are recent examples of Kratos’ industry leading vision in the high speed systems area, and we are expecting additional important hypersonic related awards in the coming months.”

Eric DeMarco, President and CEO of Kratos, said, “Beginning in June and both increasing and accelerating into July, Kratos is seeing significant funding from the DoW, which is expected to accelerate our organic growth rate, increase our operating cash receipts, while reducing our customer receivables, inventory and assets where Kratos had previously “leaned forward” to ensure we met or exceeded our customers schedule related and other expectations. Kratos is an industry leading defense technology company, focused on fielding affordable, relevant systems for the Department of War, while generating organic growth, increased margins and an acceptable rate of return on our investments, with a target of significant future cash flow generation.” 

Kratos remains at the forefront of hypersonic and advanced technology development and testing, providing affordable, high-performance solutions to meet the needs of the U.S. military and allied nations. Kratos is the only company delivering both propulsion and flyer systems, which includes Kratos’ low cost Erinyes Hypersonic Flyer, Dark Fury, Zeus and Oriole Solid Rocket Motors, along with other Kratos systems and technologies. Kratos provides unmatched innovation, disruptive capabilities, mission responsiveness and affordability to our customers across our portfolio of systems.

Work under the hypersonic system programs will be performed at secure Kratos facilities and government locations. Due to security, competitive and other considerations, no additional information will be provided related to these programs. 

For more information on Kratos and its hypersonic programs, visit www.kratosdefense.com.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, advanced vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com and follow Kratos on LinkedIn and X.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 28, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Cantrell
[email protected]

Kratos Investor Information:
877-934-4687
[email protected]

Expedia Group has entered a strategic partnership with Allegiant Travel Company.  The 12-month exclusive agreement covers Allegiant's full network of 566 routes across 124 U.S. cities.  This partnership means Expedia Group now offers 100% coverage of U.S. commercial passenger carriers.  , /PRNewswire/ -- Expedia Group and Allegiant Travel Company today announced a strategic partnership as the airline looks to tap Expedia Group's booking expertise and extensive network of U.S. travelers.   

This partnership marks a major milestone for Expedia Group and the airline, making it the first authorized online travel agency (OTA) to distribute Allegiant flights. The 12-month exclusive agreement will bring Allegiant's nonstop network of 566 routes across 124 U.S. cities to all of Expedia Group's U.S. brands. 

Expedia Group Allegiant Allegiant's network is well suited to leisure travelers, connecting underserved communities to popular vacation destinations across the U.S. By bringing this inventory to Expedia Group, the partnership makes those routes more discoverable to a broader base of travelers while giving Allegiant access to Expedia Group's demand, technology and marketplace capabilities.  

For travelers, the addition of Allegiant's domestic flights to Expedia Group adds more domestic leisure options in one familiar place to compare and book trips. With Allegiant now available, Expedia Group offers 100% coverage of U.S. commercial passenger airlines, reinforcing its position as one of the most comprehensive travel marketplaces in the country.  

The agreement also underscores Expedia Group's continued focus on expanding travel choice across its brands, meeting demand for simpler, more flexible trip planning, and serving a wider range of travel needs across the U.S.  

"Partnering with Allegiant is a significant milestone for Expedia Group as we continue to build the most complete and trusted travel marketplace," said Golan Shakéd, Vice President, Hotel Management Partnerships and Air, Expedia Group. "With Allegiant now available across our brands, travelers can shop every U.S. carrier in one place, making it easier to compare options and book with confidence."

 "Allegiant has always focused on connecting travelers to popular destinations by providing affordable, nonstop flights. This agreement allows us to reach new audiences through Expedia Group's global platform while maintaining our commitment to value and simplicity," said Drew Wells, Allegiant's chief commercial officer. "As our first authorized OTA partnership, this is a meaningful step in our distribution evolution."

About Expedia Group
Expedia Group, Inc. (NASDAQ: EXPE) is the global travel marketplace with one purpose: to help travelers explore the world, one journey at a time. Expedia Group™ connects travelers, partners, and advertisers through its trusted brands, leading technology, and rich first-party data, delivering predictive, personalized experiences that shape the future of travel.   

Expedia Group's ecosystem includes three flagship consumer brands – Expedia®, Hotels.com®, and Vrbo® – the largest B2B travel business, and a premier advertising network. Guided by an experienced and passionate global team, Expedia Group helps millions of travelers in more than 70 countries explore the world with confidence and ease.  

© 2026 Expedia, Inc., an Expedia Group company. All rights reserved. Expedia Group and the Expedia Group logo are trademarks of Expedia, Inc. CST: 2029030-50.   

For more information, visit www.expediagroup.com.  
Follow Expedia Group on Facebook, Instagram, X and LinkedIn.
Follow Expedia on Facebook, Instagram, TikTok, Pinterest, X and YouTube.
Follow Vrbo on Facebook, Instagram, TikTok, Pinterest, and X.
Follow Hotels.com on Instagram, TikTok, Facebook and X.
Media contact: [email protected] 

About Allegiant – Together We Fly™
Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most.  Through Allegiant Air and Sun Country Airlines, the company serves approximately 22 million annual customers across scheduled passenger, charter and cargo operations.  Together, the airlines operate more than 650 routes serving nearly 175 cities throughout the United States and select international destinations.  Allegiant is committed to providing affordable travel options, operational excellence and long-term value for customers, employees, communities and shareholders.  For more information, visit Allegiant.com.

Media information, including photos, is available at http://gofly.us/iiFa303wrtF
Media Inquiries: [email protected]
Investor Inquiries: [email protected]

SOURCE Allegiant Travel Company

CHANDLER, Ariz., July 14, 2026 (GLOBE NEWSWIRE) -- Deploying AI inference in power‑constrained and mission‑critical environments such as aerospace and defense systems requires solutions that balance performance, efficiency, reliability and ease of development. To better manage these challenges, Microchip Technology (Nasdaq: MCHP) has released the VectorBlox™ 3.0 Accelerator Software Development Kit (SDK) to help simplify FPGA‑based AI implementation and speed time‑to‑market. Offered to developers free of charge, VectorBlox 3.0 SDK and associated CoreVectorBlox IP is designed as an integrated toolchain that streamlines optimization, compilation and deployment of convolutional neural network (CNN) models on PolarFire® FPGA and SoC-based platforms. Because the accelerator scales efficiently across model sizes and supports multiple AI workloads on a single device, customers can consolidate various vision or sensor‑based AI functions on a single low power FPGA.

“As AI models continue to grow in complexity, compression is becoming essential for deploying intelligence at the edge,” said Shakeel Peera, corporate vice president and GM of Microchip’s FPGA business unit. “With VectorBlox 3.0, we’re leveraging sparsity-based model compression from our Neuronix acquisition to reduce compute demands while preserving accuracy.”

With support for sparse neural networks, VectorBlox 3.0 helps enable efficient execution of vision-based CNN models by skipping zero‑valued operations. This capability helps developers accelerate inference performance while reducing power consumption, an important advantage for always‑on edge AI applications that must balance responsiveness with energy efficiency. Enabling sparsity-based model compression is designed to reduce compute and memory demands, while preserving accuracy.

“Leveraging VectorBlox acceleration on Microchip’s PolarFire SoC enabled us to efficiently deploy advanced onboard AI pipelines for low-latency payload operations in orbit,” said Vito Fortunato, SPACEDGE™ services line manager at Planetek Italia. “The platform allowed us to validate real-time Earth Observation processing capabilities including object detection, semantic scene analysis and edge-generated actionable information products on top of the AI-eXpress-1 satellite, deployed in 2025, while providing the radiation resilience and operational reliability required for continuous Low Earth Orbit operations.”

Additionally, Spacecraft Pose Network v2 (SPNv2), a neural network designed to estimate position and orientation using vision data, enables autonomous navigation and proximity operations in space for applications such as autonomous rendezvous and docking, space debris removal, satellite inspection and formation flying. Built on mid-range, power-efficient, single-event-upset (SEU) immune PolarFire FPGAs and SoCs, the solution delivers secure boot, anti-tamper protection and high reliability for harsh environments. These features are necessary for mission‑critical defense, aerospace and industrial deployments where long operational life, data protection and system resilience are essential.

"The combination of PolarFire SoC and VectorBlox creates a powerful synergy for deploying AI-powered autonomy solutions directly in orbit,” said Federico Fontana, Head of Hardware Engineering at AIKO. “We validated this through the deployment of our clear_CHARLES suite, which provides onboard cloud and ship detection for adaptive and autonomous payload operations on power-efficient platforms, making a further step toward increasingly autonomous, responsive and software-defined space systems."

VectorBlox SDK v3.0 is supported by Microchip’s Libero® SoC Design Suite and integrates with CoreVectorBlox IP. Visit the website to learn more about the company’s full portfolio of FPGAs and design resources.

Pricing and Availability
VectorBlox SDK v3.0 and CoreVectorBlox IP are available to customers at no charge. To learn more, contact a Microchip sales representative or authorized worldwide distributor.

Resources
High-res images available through Flickr or editorial contact (feel free to publish):

Application image: https://www.flickr.com/gp/microchiptechnology/vA4q2m043tFree Webinar: Achieve Two Times Faster CNN Inference with Sparsity-Aware AI Acceleration on PolarFire® SoC FPGAs, July 16, 2026 and on demand after the live session https://event.on24.com/wcc/r/5321721/8209CC908EDAAE48CA01408C805BFA9F?partnerref=PR About Microchip Technology:
Microchip Technology Inc. is a broadline supplier of semiconductors committed to making innovative design easier through total system solutions that address critical challenges at the intersection of emerging technologies and durable end markets. Its easy-to-use development tools and comprehensive product portfolio supports customers throughout the design process, from concept to completion. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support and delivers solutions across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. For more information, visit the Microchip website at www.microchip.com.

Note: The Microchip name and logo, the Microchip logo, Libero and PolarFire are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. VectorBlox is a trademark of Microchip Technology Inc. in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

HCA Healthcare Inc logo is seen displayed in this illustration taken April 10, 2023. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

CompaniesJuly 14 (Reuters) - HCA Healthcare (HCA.N), opens new tab lowered ​its annual profit forecast on Tuesday, ‌weighed by an increase in the number of uninsured patients, primarily of those who lost ​coverage under the so-called "Obamacare" plans.

Shares of ​HCA fell nearly 10% in premarket ⁠trading.

Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.

As subsidies under Affordable Care Act ​or 'Obamacare' plans expire this year, hospitals like ​HCA face declining patient volumes for elective surgeries and diagnostics, even as costs increase from providing ​uncompensated care to more uninsured patients.

For ​the second quarter, the hospital operator saw a 2.5% ‌increase ⁠in same facility admissions, while inpatient and outpatient surgeries declined.

HCA sees annual profit per share between $28.7 and $30.5, compared with its ​previous forecast ​range ⁠of $29.1 to $31.5.

The hospital chain also narrowed its annual revenue forecast to ​a range of $77 billion to $79.5 ​billion, ⁠compared with its previous expectation between $76.5 billion and $80 billion.

The company reported preliminary second-quarter revenue of $20.23 billion, higher ⁠than ​analysts' average expectation of $19.43 ​billion, according to data compiled by LSEG.

Reporting by Christy ​Santhosh in Bengaluru; Editing by Leroy Leo

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

NEW YORK, July 14, 2026 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NYSE: VIRT) (the “Company”), a global market maker, broker and leading provider of global financial services technology, today announced preliminary estimates of its results of operations for the quarter ended June 30, 2026 in connection with the commencement of marketing of incremental term loans in the amount of $400 million (the “Incremental Term Loans”). The Incremental Term Loans would increase the total term loan balance under the Company’s senior secured credit facility to $1,930 million (the “Term Loans”).

Actual results for the second quarter 2026 are scheduled to be reported on July 30, 2026.

On a preliminary estimated basis:

Virtu expects its results of operations for the quarter ended June 30, 2026 to reflect:

Net income of $285 million; Normalized Adjusted Net Income1 of $292 millionBasic and diluted earnings per share of $1.63; Normalized Adjusted EPS1 of $1.82Trading income, net, of $857 million; Adjusted Net Trading Income1 of $718 million Average daily Adjusted NTI1 of $11.6 million Adjusted EBITDA1 of $437 million
Note 1: Non-GAAP financial measures. Please see “Non-GAAP Financial Measures and Other Items” for more information.

The preliminary financial and other data set forth above has been prepared by, and is the responsibility of our management. The foregoing information and estimates have not been compiled or examined by our independent registered public accounting firm nor have our independent registered public accounting firm performed any procedures with respect to this information or expressed any opinion or any form of assurance of such information. In addition, the foregoing information and estimates are subject to revision as we prepare our consolidated financial statements and other disclosures as of and for the three months ended June 30, 2026, including all disclosures required by U.S. GAAP. Because we have not completed our normal quarterly closing and review procedures for the three months ended June 30, 2026, and subsequent events may occur that require material adjustments to these results, the final results and other disclosures for the three months ended June 30, 2026, may differ materially from these estimates. These estimates should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP or as a measure of performance. In addition, these estimated results of operations for the three months ended June 30, 2026, are not necessarily indicative of the results to be achieved for any future period. See “Cautionary Note Regarding Forward-looking Statements” These estimated results of operations should be read together with subsequent filings and announcements, including any subsequent press release announcing the Company’s earnings for the quarter ended June 30, 2026, and our consolidated financial statements and related notes to be filed on Form 10-Q on or before August 10, 2026.

Non-GAAP Financial Measures and Other Items

To supplement our unaudited condensed consolidated financial statements presented in accordance with generally accepted accounting principles (“GAAP”), we use the following non-GAAP measures of financial performance:

“Adjusted Net Trading Income”, which is the amount of revenue we generate from our market making activities, or trading income, net, plus commissions, net and technology services, plus interest and dividends income and expense, net, less direct costs associated with those revenues, including brokerage, exchange, clearance fees and payments for order flow, net. Management believes that this measurement is useful for comparing general operating performance from period to period. Although we use Adjusted Net Trading Income as a financial measure to assess the performance of our business, the use of Adjusted Net Trading Income is limited because it does not include certain material costs that are necessary to operate our business. Our presentation of Adjusted Net Trading Income should not be construed as an indication that our future results will be unaffected by revenues or expenses that are not directly associated with our core business activities.
“EBITDA”, which measures our operating performance by adjusting Net Income to exclude Financing interest expense on long-term borrowings, Debt issue cost related to debt refinancing, prepayment, and commitment fees, Depreciation and amortization, Amortization of purchased intangibles and acquired capitalized software, and Income tax expense, and “Adjusted EBITDA”, which measures our operating performance by further adjusting EBITDA to exclude severance, transaction advisory fees and expenses, termination of office leases, charges related to share-based compensation and other expenses, which includes reserves for legal matters, and Other, net, which includes gains and losses from strategic investments and the sales of businesses.
“Normalized Adjusted Net Income”, “Normalized Adjusted Net Income before income taxes”, “Normalized provision for income taxes”, and “Normalized Adjusted EPS”, which we calculate by adjusting Net Income to exclude certain items, and other non-cash items, assuming that all vested and unvested Virtu Financial Units have been exchanged for Class A Common Stock, and applying an effective tax rate, which was approximately 24%.
Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, and Normalized Adjusted EPS are non-GAAP financial measures used by management in evaluating operating performance and in making strategic decisions. Additional information provided regarding the breakdown of Total Adjusted Net Trading Income by category is also a non-GAAP financial measure but is not used by the Company in evaluating operating performance and in making strategic decisions. In addition, these non-GAAP financial measures or similar non-GAAP measures are used by research analysts, investment bankers and lenders to assess our operating performance. Management believes that the presentation of Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS provide useful information to investors regarding our results of operations because they assist both investors and management in analyzing and benchmarking the performance and value of our business. Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS provide indicators of general economic performance that are not affected by fluctuations in certain costs or other items. Accordingly, management believes that these measurements are useful for comparing general operating performance from period to period. Furthermore, our credit agreement contains tests based on metrics similar to Adjusted EBITDA. Other companies may define Adjusted Net Trading Income, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS differently, and as a result our measures of Adjusted Net Trading Income, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS may not be directly comparable to those of other companies. Although we use these non-GAAP financial measures as financial measures to assess the performance of our business, such use is limited because they do not include certain material costs necessary to operate our business.

Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS should be considered in addition to, and not as a substitute for, Net Income in accordance with U.S. GAAP as a measure of performance. Our presentation of Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS should not be construed as an indication that our future results will be unaffected by unusual or nonrecurring items. Adjusted Net Trading Income, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted EPS and our EBITDA-based measures have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under U.S. GAAP. Some of these limitations are:

they do not reflect every cash expenditure, future requirements for capital expenditures or contractual commitments;our EBITDA-based measures do not reflect the significant interest expense or the cash requirements necessary to service interest or principal payment on our debt;although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced or require improvements in the future, and our EBITDA-based measures do not reflect any cash requirement for such replacements or improvements;they are not adjusted for all non-cash income or expense items that are reflected in our statements of cash flows;they do not reflect the impact of earnings or charges resulting from matters we consider not to be indicative of our ongoing operations; andthey do not reflect limitations on our costs related to transferring earnings from our subsidiaries to us. Because of these limitations, Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS are not intended as alternatives to Net Income as indicators of our operating performance and should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as measures of cash that will be available to us to meet our obligations. We compensate for these limitations by using Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS along with other comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance. These U.S. GAAP measurements include Net Income, cash flows from operations and cash flow data. See below a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure.

Virtu Financial, Inc. and Subsidiaries
Reconciliation to Non-GAAP Operating Data (Unaudited)

The following tables reconcile Condensed Consolidated Statements of Comprehensive Income to arrive at Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS and selected Operating Margins.

 Three Months Ended
June 30, Six Months Ended
June 30,(in millions, except for earnings per share)2026
 2025
 2026
 2025
        Reconciliation of Trading income, net to Adjusted Net Trading Income       Trading income, net$857  $653  $1,646  $1,243 Commissions, net and technology services 180   154   366   305 Interest and dividends income 146   128   273   237 Brokerage, exchange, clearance fees and payments for order flow, net (259)  (202)  (398)  (424)Interest and dividends expense (205)  (165)  (383)  (297)Adjusted Net Trading Income$718  $568  $1,504  $1,065         Reconciliation of Net Income to EBITDA, Adjusted EBITDA and Normalized Adjusted Net Income       Net income 285   293   632   483 Financing interest expense on long-term borrowings 35   33   70   62 Debt issue cost related to debt refinancing, prepayment and commitment fees 1   2   3   3 Depreciation and amortization 18   16   35   32 Amortization of purchased intangibles and acquired capitalized software 12   12   24   24 Provision for income taxes 58   54   121   88 EBITDA$409  $409  $883  $692 Severance 1   3   4   5 Termination of office leases 1   —   1   — Gain on sale of RFQ-hub —   (67)  —   (67)Other (8)  2   1   14 Share based compensation 33   23   68   44 Adjusted EBITDA$437  $369  $957  $689 Financing interest expense on long-term borrowings 35   33   70   62 Depreciation and amortization 18   16   35   32 Normalized Adjusted Net Income before income taxes$384  $321  $853  $595 Normalized provision for income taxes (1) 92   77   205   143 Normalized Adjusted Net Income$292  $244  $648  $453         Weighted Average Adjusted shares outstanding (2) 160   160   160   160         Normalized Adjusted EPS$1.82  $1.53  $4.06  $2.83                  (1) Reflects U.S. federal, state, and local income tax rate applicable to corporations of approximately 24% for all periods presented.

(2) Assumes that (1) holders of all vested and unvested non-vesting Virtu Financial Units (together with corresponding shares of the Company’s Class C common stock, par value $0.00001 per share (the “Class C Common Stock”)) have exercised their right to exchange such Virtu Financial Units for shares of Class A Common Stock on a one-for-one basis, (2) holders of all Virtu Financial Units (together with corresponding shares of the Company’s Class D common stock, par value $0.00001 per share (the “Class D Common Stock”)) have exercised their right to exchange such Virtu Financial Units for shares of the Company’s Class B common stock, par value $0.00001 per share (the “Class B Common Stock”) on a one-for-one basis, and subsequently exercised their right to convert the shares of Class B Common Stock into shares of Class A Common Stock on a one-for-one basis.

About Virtu Financial, Inc.

Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrency and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre-, intra-, and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding Virtu Financial, Inc.’s (“Virtu’s”, the “Company’s” or “our”) business that are not historical facts are forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, and if the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. Forward-looking statements are based on information available at the time and/or management’s good faith belief with respect to future events, and is subject to risks and uncertainties, some or all of which are not predictable or within Virtu’s control, that could cause actual performance or results to differ materially from those expressed in the statements. Those risks and uncertainties include, without limitation: fluctuations in trading volume and volatilities in the markets in which we operate; the ability of our trading counterparties, clients, and various clearing houses to perform their obligations to us; the performance and reliability of our customized trading platform; the risk of material trading losses from our market making activities; swings in valuations in securities or other instruments in which we hold positions; increasing competition and consolidation in our industry; the risk that cash flow from our operations and other available sources of liquidity will not be sufficient to fund our various ongoing obligations, including operating expenses, short-term funding requirements, margin requirements, capital expenditures, debt service and dividend payments; regulatory and legal uncertainties and other potential changes associated with our industry, particularly in light of increased attention from media, regulators and lawmakers to market structure and related issues including but not limited to the retail trading environment, wholesale market making and off exchange trading more generally and payment for order flow arrangements; potential adverse results from legal or regulatory proceedings; our ability to remain technologically competitive and to ensure that the technology we utilize is not vulnerable to security risks, hacking and cyber-attacks; risks associated with third party software and technology infrastructure. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in forward-looking statements, see Virtu’s Securities and Exchange Commission filings, including but not limited to Virtu’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.

CONTACT

Investor Relations
Matthew Sandberg
[email protected]

Key Takeaways: 

Space Ground System Solutions, Inc., a wholly owned Parsons’ subsidiary, secured a five-year, $245 million contract with the U.S. Naval Research Laboratory to advance mission-critical satellite ground systems software and operations.This award continues a 30-year legacy supporting the Blossom Point Tracking Facility.Parsons is a trusted provider of end-to-end space and ground system solutions, including mission engineering, DevSecOps, and secure software-defined architectures. CHANTILLY, Va., July 14, 2026 (GLOBE NEWSWIRE) -- Space Ground System Solutions, Inc (SGSS), a wholly owned Parsons Corporation (NYSE: PSN) subsidiary, announced today that it has been awarded a $245 million indefinite delivery, indefinite quantity (IDIQ) contract from the U.S. Naval Research Laboratory (NRL) to provide software development, sustainment, and operations support for critical satellite mission systems over a five-year period of performance.

Under the Blossom Point Tracking Facility Software and Operations Support contract, Parsons builds on its 30 years of continuous advancement of NRL’s government-owned applications: Neptune® Software for automated satellite command and control and ground equipment control and status, and the Virtual Mission Operations Center (VMOC®) for satellite mission management. The work includes designing, testing, maintaining, and enhancing mission-critical software modules, as well as providing configuration control and cybersecurity for space and ground systems supporting national security missions.

“Continuing our work with the Naval Research Laboratory underscores Parsons’ role in delivering resilient, mission-ready space capabilities,” said Rob McDonough, vice president of Space Operations Services at Parsons. “This award reinforces our demonstrated ability to engineer and sustain secure, software-defined mission systems that enable operational advantage in an increasingly contested space domain. We look forward to advancing innovation with NRL to ensure critical space assets remain agile, integrated, and mission focused.”

The U.S. Naval Research Laboratory is the Department of the Navy’s premier research institution and a leader in space science and technology. It has been instrumental in advancing space-based communications, surveillance, and national defense capabilities for decades. Through this partnership, Parsons will directly support NRL’s mission to innovate and transition cutting-edge technologies to operational use across the Department of War.

For more than 30 years, Parsons has been a leader in delivering end-to-end space and ground system solutions, including mission engineering, satellite communications, space domain awareness, and advanced command-and-control capabilities. The company’s expertise spans the integration of software-defined architectures, secure data transport, and real-time mission operations, enabling customers to maintain decision advantage across complex, multi-domain environments.

For more information about Parsons and its space capabilities, please visit parsons.com/space.

About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Annual Report on Form 10-K for the year ended December 31, 2025, and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so by law.

Media Contact:                                        
Angie Benfield        
+1 803.334.5277
[email protected]

Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
[email protected]

Contribution to flagship 6G projects underscores VIAVI's pivotal role in the next generation of connectivity

, /PRNewswire/ -- VIAVI Solutions Inc. (VIAVI) (NASDAQ: VIAV) today announced that it has been awarded $1.1 million in funding from the European Smart Networks and Services Joint Undertaking (SNS JU) and Horizon Europe to advance the SHIELD-6G project.

As telecom breaches increase in volume and the threat of quantum-enabled cyberattacks moves from theoretical to imminent, network security has become a strategic priority for operators, enterprises and governments worldwide. The SHIELD-6G project aims to develop a comprehensive AI-driven Cyber Threat Intelligence (CTI) platform for 6G networks with interoperable security, orchestration and regulatory compliance. VIAVI will develop digital twins using its TeraVM AI RAN Scenario Generator (RSG), enabling AI-driven security models to be developed, tested and validated ahead of the first commercial 6G signal going live.

As part of SHIELD-6G, VIAVI will use its AI RSG technology to support advanced security testing of 6G network environments, using AI to simulate, detect and analyze potential threats across the network. This includes generating realistic network datasets that enable intelligent anomaly detection and the continuous refinement of AI-based security mechanisms to ensure that vulnerabilities are identified and addressed before they can be exploited in live networks.

"Security for 6G networks has to be built in from day one, and that requires the ability to simulate, test and detect threats before a single commercial 6G signal goes live," said Ian Langley, Senior Vice President, Wireless, Security and Applications Business Unit, VIAVI. "Our AI RSG technology is already being used to provide the essential digital twin foundation required to better understand 6G propagation, improve energy consumption and reduce FR3 signal interference. SHIELD-6G takes that capability directly into the security domain, where the stakes are even higher. We're delighted to be involved in this latest collaboration at the forefront of global technological innovation."

SHIELD-6G is part of the highly competitive Horizon Europe SNS JU call to accelerate European 6G research and innovation, which selected 20 new 6G projects. VIAVI joins a European consortium coordinated by University College Dublin, working alongside global industry leaders including Ericsson, Nokia, THALES & THALES SIX, as well as network operators Telefónica and LMT of Latvia, bringing together the full chain of expertise needed to secure 6G networks end to end.

About VIAVI
VIAVI (NASDAQ: VIAV) is a global leader in test and measurement and optical technologies. Our test, monitoring, assurance, and resilient position, navigation and timing solutions enable and secure critical infrastructure ranging from data center ecosystems and communication networks to military, aerospace, railway and first responder communications. In addition, we develop and advance technologies used in high-volume optical applications across anti-counterfeiting, consumer electronics, aerospace, industrial and automotive end markets.

Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn and YouTube.

Media Inquiries:
Grand Bridges
Emma Jenkins
[email protected]
+1 415 800 4529

SOURCE VIAVI Solutions

Obchodníci s akciemi společnosti Citigroup dosáhli rekordních tržeb a postavili se do čela řady klíčových obchodních divizí společnosti, které překonaly očekávání Wall Streetu. Celkově čtyři z pěti hlavních divizí společnosti – bankovnictví, služby, trhy a správa majetku – překonaly odhady analytiků sestavené agenturou Bloomberg. Zisk na akcii činil 3,15 USD, čímž překonal všech 20 odhadů analytiků. Akcie banky nicméně v premarketu reagují poklesem o 2 %.

Tržby z obchodování s akciemi ve druhém čtvrtletí meziročně vzrostly o 45 % na 2,3 miliardy dolarů, což je o přibližně 11 % více než rekordní hodnota zaznamenaná v prvních měsících tohoto roku. Banka se snaží přilákat více hedgeových fondů, aby rozšířila tuto oblast svého podnikání, která je menší než u jejích hlavních konkurentů na Wall Street.

Stejně jako v jiných velkých bankách vydělali investiční bankéři Citi nejvíce od roku 2021, kdy pandemické otřesy a extrémně nízké úrokové sazby vyvolaly v celém odvětví vlnu obchodních transakcí. V této divizi dochází k personálním změnám na manažerských pozicích poté, co se v roce 2024 ujal vedení Vis Raghavan.

Jedná se o první výsledky od doby, kdy generální ředitelka Jane Fraserová v květnu představila nové cíle ziskovosti, které u akcionářů vyvolaly obecně optimistický pohled na směřování společnosti. Cena akcií se za posledních 18 měsíců téměř zdvojnásobila, zatímco Fraserová pokračovala v již několik let trvajícím zefektivňování globálních operací Citi.

Na květnovém dni investorů generální ředitelka Citi předpověděla, že rentabilita hmotného kmenového kapitálu Citi, klíčového ukazatele ziskovosti, dosáhne do roku 2031 přibližně 14 % až 15 %. Společnost ve druhém čtvrtletí vykázala 13 %, čímž překonala odhady analytiků ve výši 11,3 %.

To posiluje dynamiku obnovy banky, která minulý měsíc sklidila pochvalu od prezidenta Donalda Trumpa na sociálních sítích. Jeho syn Eric nedávno založil ve společnosti svěřenský fond s penězi svého otce. Fraserová vyvinula soustředěné úsilí o zlepšení vztahů své společnosti ve Washingtonu.

Přestože výsledky překonaly očekávání, 45% růst zaznamenaný divizí akciového obchodování Citi byl pomalejší než u jejích větších konkurentů, jako jsou JPMorgan a Goldman Sachs, které zaznamenaly růst o 86 %, respektive 72 %.

Ukazatel efektivity banky, který udává, kolik banka utratí za každý dolar vygenerovaných tržeb, klesl na přibližně 57 %, čímž se společnost přiblížila ziskovějším konkurentům, jako je JPMorgan, jehož ukazatel v prvním čtvrtletí činil 54 %.

Přesto segment spotřebitelských karet nedosáhl odhadů analytiků, protože náklady vzrostly o 10 % oproti předchozímu roku v důsledku vyšších nákladů na odstupné. Tato divize provádí reorganizaci části svého týmu v souvislosti s integrací části karetního portfolia společnosti Barclays ve spolupráci s American Airlines.

SUGAR LAND, Texas, July 14, 2026 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. (NASDAQ: AAOI), a leading provider of advanced optical and HFC networking products powering AI, today announced it has begun construction on its two adjacent properties in Pearland, Texas, adding nearly 400,000 square feet of manufacturing capacity.

The buildout of these properties, located at 14621 Kirby Drive and 11555 N. Spectrum Boulevard, supports AOI’s plans to increase production of its 800G and 1.6T optical transceivers, which are a critical component of modern AI infrastructures that let network devices communicate over fiber optics, enabling fast, long-distance data transmission.

“We are proud to be part of the Pearland business ecosystem and appreciate the level of support we received from the city and economic development offices to match our manufacturing needs,” said Dr. Stefan Murry, Chief Financial Officer and Chief Strategy Officer of AOI. “As we continue to grow and expand our Houston-area footprint, Pearland offers us access to a strong workforce, excellent infrastructure, and room to scale our operations. These facilities will be instrumental in supporting our long-term growth strategy, enabling us to expand production of advanced optical transceivers and strengthen AOI's position as a key supplier to the AI and cloud infrastructure markets.”

“We’re thrilled to welcome Applied Optoelectronics to Pearland as they expand their manufacturing footprint,” said Quentin Wiltz, Mayor, City of Pearland. “This project will bring high-quality jobs, strengthen our local economy, and deepen the innovation ecosystem that makes Pearland a destination for forward-looking companies. We look forward to continuing to support AOI as they grow and thrive in our community.”

Additional Resources:

AOI Optical TransceiversAOI Newsroom About AOI  
Applied Optoelectronics, Inc. (AOI) is a leading developer and manufacturer of advanced optical and HFC networking products that are the building blocks for AI datacenters, CATV and broadband fiber access networks around the world. AOI supplies this critical infrastructure to tier-one customers across cloud computing, CATV broadband, telecom, and FTTH markets. The company has R&D facilities in Atlanta, GA, and engineering and manufacturing facilities at its corporate headquarters in Sugar Land, TX, as well as in Taipei, Taiwan and Ningbo, China. For additional information, visit www.ao-inc.com.

About PEDC
Established in 1995, the Pearland Economic Development Corporation promotes, assists, and enhances economic development activities and quality of life within Pearland, Texas. In bringing new and existing businesses to the area, the organization attracts capital investment to add to the city’s tax base and helps to increase the number of employment opportunities for residents. For more information, visit www.pearlandedc.com.

Media contacts:
Sara Cicero
[email protected]
770-331-0269

Melissa Cook
[email protected]
281-997-3003

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f8f49ccf-861c-4173-a6db-06fbdf54ccbb

Texas Construction Hat AOI Begins Expansion of Pearland Manufacturing Campus

Branding for Nebius at the Nebius AI UK data centre, a new facility hosting NVIDIA and other computer firms, at Ark Data Centres, in Chertsey, Britain, November 6, 2025. REUTERS/Toby Melville Purchase Licensing Rights, opens new tab

July 14 (Reuters) - AI startup Reflection said on Tuesday it has signed a more than $1 billion deal ​to secure computing capacity from Nebius (NBIS.O), opens new tab, including ‌access to Nvidia's latest chips.

The move builds on Reflection's June agreement with SpaceX for computing capacity, a deal that ​media reports said would see the startup ​pay about $150 million a month through 2029.

The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.

AI ⁠startups are racing to lock in the ​computing power needed to train and run their ​models as demand growth from businesses adopting the technology outpaces new data-center supply.

Reflection, launched by two former Google DeepMind ​researchers, develops open-source models that serve as ​an alternative to the offerings from OpenAI and Anthropic.

Open-source models, ‌typically ⁠easier to customize and cheaper to run than closed-weight rivals, have drawn growing interest as rising AI bills push businesses to cut costs. Last ​month's U.S. ​curbs on ⁠Anthropic's advanced models also exposed the risks of relying on providers that ​can be cut off overnight.

"The need ​for ⁠open models is clear, and this additional compute capacity will allow Reflection to continue to build ⁠and ​train frontier AI models at ​scale," said Reflection's chief technology officer and co-founder, Ioannis Antonoglou.

Reporting by ​Aditya Soni in Bengaluru; Editing by Shilpi Majumdar

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

July 14, 2026 07:00 ET  | Source: USA Rare Earth, Inc.

Positions USA Rare Earth as one of few companies outside of Asia with the capability to separate heavy rare earths

Represents important step toward an integrated value chain that secures global supply for advanced manufacturing and critical industries

Broadens Company’s feedstock options to include recycled material, complementing planned oxide production from Round Top and Serra Verde concentrates

Samples to be sent to LCM for qualification; produced oxides to serve as feedstock to rare earth metal production, which supplies the Company’s magnet manufacturing facilities in the United States

WHEAT RIDGE, Colo., July 14, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) ("USAR", "USA Rare Earth", or the "Company"), a rare earth, critical minerals and advanced materials company, today announced that its hydrometallurgical facility in Wheat Ridge, Colorado, has produced commercial-grade dysprosium (Dy) oxide and neodymium-praseodymium (NdPr) oxide samples from recycled rare earth magnet scrap, known in the industry as "swarf."

USA Rare Earth’s successful separation of commercial-grade Dy oxide and NdPr oxide at Wheat Ridge is a pivotal milestone, establishing the Company as one of the few Western producers capable of executing this technically demanding process outside Asia. By bridging world-class upstream resources with advanced separation and processing, metallization, and magnet manufacturing, the Company’s mission is to build the leading global rare earth and critical mineral value chain where each link reinforces the next. This achievement marks a critical step toward delivering a global, integrated solution to de-risk supply chains for defense, semiconductors, and physical AI infrastructure.

The Dy and NdPr oxides were produced using swarf, the fine scrap generated when neodymium-iron-boron (NdFeB) magnets are machined and finished, which in this case were sourced from the Company’s Stillwater, OK magnet manufacturing facility. Turning that scrap back into high-purity light and heavy rare earth oxide broadens the Company’s feedstock options and strengthens the circularity of its value chain, with swarf projected to support up to 30% of future magnetic rare earth oxide feedstock needs. This validation of the magnet swarf recycling flowsheet also lays the foundation to potentially incorporate end-of-life magnets as an additional commercial feedstock option.

The oxides produced at Wheat Ridge are expected to be sent to Less Common Metals (“LCM”), USA Rare Earth’s subsidiary in the United Kingdom, for qualification and for conversion into rare earth metals and strip cast. The output from LCM, which is one of the few commercial scale metal, alloy and strip cast producers outside of Asia, is expected to serve as feedstock for the Company’s magnet manufacturing facilities in the United States.

Dysprosium is one of the most technically challenging rare earth elements to separate at commercial purity, and today virtually all Dy oxide is produced in China. While NdPr provides the magnetic foundation of NdFeB permanent magnets, dysprosium is added in smaller quantities to allow magnets to retain performance and coercivity at high operating temperatures, a requirement of the aerospace, defense, electric vehicle, robotics and industrial motor applications that NdFeB magnets enable. Producers with the proven ability to separate heavy rare earths at commercial specification outside Asia remain scarce, and Dy availability is widely recognized as a primary constraint on the Western permanent magnet industry.

Today’s production milestone places USA Rare Earth in that small group and establishes swarf from magnet manufacturing as a feedstock stream back into the Company’s value chain, closing the loop between the Company’s downstream magnet manufacturing and its upstream separation. Additional campaigns underway at Wheat Ridge are expected to process material from the Company’s Round Top project and from Serra Verde’s Pela Ema mine. These campaigns are expected to produce additional varieties of rare earth and critical mineral oxides in the coming weeks, further advancing USA Rare Earth toward proven capability across every stage of the rare earth value chain: mining, separation and processing, metal and alloy making, and permanent magnet manufacturing.

About the Wheat Ridge Facility

The Wheat Ridge demonstration facility runs 24 hours a day and is fully instrumented for real-time process monitoring across every unit operation. The facility is built to digitally and physically simulate the Company’s future commercial-scale operation, and the data it generates flows directly into the engineering design of a planned consolidated separation facility, which will process both magnet swarf and mixed rare earth carbonate (MREC). This allows the team to validate its proprietary flowsheets and refine the commercial design using live operating data and physical testing rather than theory alone.

About USA Rare Earth, Inc.

USA Rare Earth, Inc. (Nasdaq: USAR) is building a fully integrated rare earth and permanent magnet value chain across the United States and the United Kingdom, with plans for expansion in France and Brazil. Through its ownership of Less Common Metals (LCM), one of the world’s leading producers of rare earth metals and alloys, its magnet manufacturing capacity in Stillwater, Oklahoma, the planned acquisition of the Pela Ema mine in Brazil (subject to closing the Serra Verde Group transaction) and the Round Top deposit in Texas, USA Rare Earth operates across the entire value chain from mining to metal-making, alloy production and neodymium magnet manufacturing. USA Rare Earth is establishing a secure, Western supply of materials essential to the aerospace and defense, semiconductor, energy, data center, physical AI, mobility, healthcare and other key industrial sectors. For more information, visit www.usare.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include those relating to the objectives, scope and anticipated benefits of the Wheat Ridge demonstration program; the Company’s ability to validate and optimize its processing and separation flowsheets and to produce separated oxides at commercial quality; the Company’s plans for a consolidated commercial separation facility for magnet swarf and mixed rare earth carbonate; and the Company’s global value chain strategy. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. Words such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “project,” “should,” “target,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

Forward-looking statements are subject to risks and uncertainties and potentially inaccurate assumptions that could cause actual results to differ materially from the Company’s expectations, including without limitation: the Company’s ability to execute its business plan, including development of the Round Top deposit and its processing and manufacturing facilities; the timing and advancement of expected business milestones; the significant long-term and inherently risky investments the Company is making in mining and manufacturing facilities; the Company’s ability to obtain additional or replacement financing as needed; risks that the proposed transactions with Serra Verde Group, Carester SAS and Texas Mineral Resources Corp. may not be consummated on their anticipated timelines or at all; the Company may not realize the anticipated benefits of its proposed and prior acquisitions, including expected synergies, financial performance, estimated EBITDA and, in the case of Serra Verde Group, integration of operations, on the anticipated timeline or at all; the ability of the Company’s Stillwater facility or other future magnet manufacturing facilities to commence commercial operations on the timing and with the production capacity anticipated or at all; the Company’s limited operating history; risks that the Company may experience delays, unforeseen expenses, increased capital costs, and other complications in operating its business; potential dilution to existing stockholders and adverse effect on the Company’s stock price if the Company issues additional common stock or equity-linked securities; the volatility of the Company’s stock price; the Company’s ability to satisfy project milestones and other conditions to disbursement under the Company’s financing arrangement with the Department of Commerce (“DOC”) on the anticipated timeline or at all; the Company’s dependence on continued governmental support for the DOC financing transactions, which remains subject to changes in laws, regulations, administrations and appropriations; extensive affirmative and negative covenants, domestic content and national security guardrail provisions and ongoing reporting obligations in the DOC financing agreements that restrict the Company’s operational and financial flexibility; the risk that defaults under the DOC funding agreements could trigger cross-defaults across the Company’s financing arrangements; the impact of the DOC’s equity interest in the Company on the Company’s ability to pursue strategic transactions and on the Company’s relationships with customers, suppliers, partners and other counterparties; the availability of rare earth oxide, metal feedstock and other materials, utilities (including power and water) and equipment in quantities and prices that allow the Company to develop and commercially operate the Company’s Stillwater facility and other facilities; the Company’s ability to meet individual customer specifications and manufacture a consistently high quality product; fluctuations in demand for and prices of the Company’s products, including without limitation as a result of dumping, predatory pricing and other tactics by the Company’s competitors or state actors or the overall competitive environment; the Company’s ability to achieve positive cash flow or profitability or the ability to access cash flow within the Company’s corporate structure due to restrictions contained in the Company’s financing agreements; the Company’s ability to convert current commercial discussions and/or memorandums of understanding with customers for the sale of the Company’s neo magnets and other products into definitive orders; geopolitical developments or disruptions, such as changes in the political environment, export/import or environmental policy of the People’s Republic of China, the United States or other countries in which the Company operates or sells products or otherwise; war, terrorism, natural disasters or public health emergencies; the Company’s ability to retain or recruit key personnel; environmental, health and safety regulations; and the Company’s ability to comply with requirements for federal, state and local government incentives and financing.

Additional risks and detailed information regarding factors that may cause actual results to differ materially has been and will be included in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s most recently filed Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and subsequent filings. Any forward-looking statements speak only as of the date of this press release (or such other date as is specified in such statements), and the Company undertakes no obligation to update any forward-looking statements as a result of new information or future developments except as required by law.

Investor Contact
JB Lowe
Vice President, Investor Relations
USA Rare Earth, Inc.
[email protected]

Media Contact
Collected Strategies
[email protected]

It will take roughly 6,090 shares to earn $10,000 a year in dividends from Nike (NKE 1.31%). This is based on its current quarterly payment of $0.41, or a forward-12-month dividend of $1.64 per share.

Nike's dividend yield is the highest in its history. The company recently raised the quarterly payment by 3%, marking 24 consecutive years of dividend increases.

Image source: The Motley Fool.

But the high yield doesn't come without risks. The stock has fallen 76% from its previous peak due to weaker consumer spending and lower revenue growth.

The weaker revenue isn't the biggest problem for Nike -- it's lower margins. To support continued dividend payments, the company has to pay out more cash than it is taking in. Over the last year, Nike paid out roughly $2.4 billion in dividends but generated just over $1 billion in free cash flow. That's obviously not sustainable in the long run.

Today's Change

(

-1.31

%) $

-0.58

Current Price

$

43.79

Free cash flow is down partly due to restructuring costs related to turnaround efforts and investment in stores and products. These are largely transitional, so Nike should be able to recover its free cash flow fairly quickly. I wouldn't be too alarmed about the high payout ratio right now.

Nike also has approximately $9 billion in cash and short-term investments on its balance sheet, with $7.9 billion in total debt. More cash than debt is solid, but investors will need to closely follow quarterly earnings reports. Nike needs to show progress in improving margins and boosting free cash flow to cover the dividend payments.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nike. The Motley Fool has a disclosure policy.

Walmart (WMT +0.77%) has quietly become one of the market's strongest large-cap performers over the past few years, rewarding investors who had long underestimated it. Lately, though, the run has cooled. Yet even after slipping from a 52-week high near $135 to about $114 as of this writing, the stock still fetches about 40 times earnings -- a growth stock multiple for a retailer that rings up most of its sales on low-margin groceries.

That gap is the whole question for anyone buying today. Can a company this enormous grow into a price like that over the next five years? The answer sits in a surprisingly small corner of the business.

Image source: The Motley Fool.

The engines behind the premium On the surface, Walmart's results read like a big, dependable retailer's. In its fiscal first quarter of 2027 (the period ended April 30, 2026), total revenue rose 7.3% to $177.8 billion. Comparable sales in the U.S., excluding fuel, grew 4.1% -- healthy, but a notch below the 4.5% it posted a year earlier. Growth like that doesn't explain such a premium.

The explanation sits beneath the top line. Walmart's fastest-growing businesses happen to be its highest-margin, and they are finally big enough to matter. In the U.S., its Walmart Connect ad platform grew 44%, part of a broad jump in higher-margin advertising across the company. Membership fee income climbed 17.4% globally. And e-commerce sales rose 26%, now about 23% of net sales.

Today's Change

(

0.77

%) $

0.88

Current Price

$

114.78

Two things make that mix powerful. These lines carry far fatter margins than selling packaged food, so a growing share of Walmart's profit now comes from advertising, memberships, and marketplace fees rather than the shelves. And its online business, long a drag the company absorbed just to stay competitive, is finally reaching the point where better e-commerce economics help profits instead of hurting them.

"Our teams are ... growing higher-margin commerce solutions," CEO John Furner said in the company's first-quarter earnings release, describing a push he tied to stronger returns.

Automation feeds the same goal, with Walmart steering more of its capital expenditures into automated distribution and fulfillment that lower the cost of each online order.

Where the stock could be in 2031 Here is what today's price is really asking. At about 40 times earnings, the market is valuing Walmart less like a retailer and more like a durable and fast-growing compounder -- and management's own outlook shows why that's a stretch. For the full year, Walmart reiterated guidance for non-GAAP (adjusted) operating income to grow 6% to 8% and adjusted earnings per share of $2.75 to $2.85, up only about 6% from the prior year. Mid-single-digit profit growth rarely earns a valuation multiple in the 40s.

The five-year outcome comes down to two things: how fast earnings grow, and what multiple investors keep paying. Assume Walmart compounds earnings at 8% to 10% a year, a bit above current guidance and generous to the high-margin businesses. Hold the price-to-earnings ratio at 40, and the stock could approach $175. Let the premium fade toward a still-rich 30 times, and the same earnings support a price closer to $130. Push the multiple toward the broader market's, and five years of steady execution could leave the shares near where they trade now.

So a realistic five-year range runs from about $130 to $175, and nearly all of that spread comes from the multiple, not the business. The single most important factor, then, isn't comparable sales or the next holiday quarter. It's whether the high-margin engines, advertising above all, keep growing fast enough to keep investors excited about the growth story and ultimately defend the valuation premium. If Walmart Connect and membership keep compounding at double-digit rates, the mix shift can justify a rich multiple. If they cool, it likely compresses, and the stock can stall for years even while the business does fine.

There are, of course, reasons for caution. U.S. comparable sales already slowed last quarter, and higher fuel costs in the supply chain weighed on operating profit. Sure, Walmart keeps sending cash back to shareholders through a $30 billion buyback authorization (and notably a small dividend that yields under 1%). But against a company worth more than $900 billion, this repurchase program only modestly moves earnings.

So where does that leave the stock? I think Walmart will very likely be a bigger, more profitable business in five years, carried by the high-margin growth it's leaning into. But an excellent business bought at a demanding price can still make an ordinary investment. At about 40 times earnings, too much of the good news already sits in the share price for me. I'd rather wait for a pullback that prices in the chance the advertising and membership businesses cool before they fully scale. For now, it's a stock I'd watch rather than buy.

A never-before-drilled, kilometre-scale target in one of British Columbia's most storied copper-gold camps.

VANCOUVER, BC / ACCESS Newswire / July 14, 2026 / Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR)(OTCQB:PRRSF)(FRA:OED) is thrilled to announce that drilling has commenced at it's 100%-owned1; Excalibur copper-gold porphyry project in British Columbia's prolific Babine porphyry district (Figure 1). The initial discovery drill program at Excalibur is a significant first step in evaluating this undrilled, 2 km2, soil-covered geophysical and geochemical target that is interpreted as a potential altered and mineralized porphyry complex (Figure 2).

Why Excalibur is a target worth watching

Textbook porphyry signature: A recently completed induced polarization ("IP") survey revealed a large chargeability feature, interpreted as a classic pyrite-bearing halo flanking a series of magnetic highs, interpreted as magnetite-rich potassic alteration. These geophysical targets are supported by elevated copper in soil values and peripheral outcrops of pyrite-bearing hornfelsed sediments marking a potential copper-bearing porphyry system2 (Figures 2 and 3).

A large exploration fairway: The 28 km2, undrilled and only partly explored property, has delivered a 2 km2 coincident chargeability, magnetic, and multi-element soil anomaly that points to the potential for a buried porphyry-style system of a scale attractive to major mine developers.

A prime address in a proven district: Excalibur sits within the BC's Babine porphyry belt, 60-70 km from the past-producing Bell and Granisle mines and 40-50 km from exciting new discoveries such as Duke (Amarc Resources Ltd. and Boliden Mineral Canada Ltd.) and NAK (American Eagle Gold Corp.; TECK Resources Ltd. and South32 Limited)3,4 representing the newly highlighted potential of this belt.

Management comment

Prospect Ridge President & CEO Len Brownlie, Ph.D. commented: "Excalibur is an exciting new porphyry target in an established mining district. Our team's preparations since January have allowed us to assemble a high-quality operations team including Equity Exploration Consultants and Alpha Drilling along with solid local support to conduct this program during a very busy summer field season. For our shareholders, this program could provide a potentially transformational event in the form of a discovery of a new Babine-style copper-gold porphyry system."

Program and next steps

Drill program under way: The Company is targeting three to four drill collar locations for an initial ~1,500 metre program. Drill plans will be adjusted as new results drive exploration. An additional 1,500 meters of success-based drilling is also available to be deployed in 2026, dependant on results. Drilling commenced July 12, 2026, with updates and results to follow as the story unfolds.

A rock-solid technical foundation: Recent induced polarity and magnetic vector inversion modelling, multi-element soil geochemistry, and peripheral pyrite-mineralized outcrop support a compelling buried porphyry target.

Expansion of the supporting datasets to identify additional targets: In anticipation of positive drilling results, the Company is preparing to execute additional target development work in 2026 including expansion of the magnetic and IP data coverage and additional soil sampling across the 28 km2 mineral claims package.

Figure 1 - Excalibur Property location in relation to other projects in and near the Babine District.

About the Excalibur Property

On the Excalibur Property, suspected Bulkley and Babine-aged felsic intrusions cut Cretaceous stratified rocks, comprising Skeena Group clastic rocks to the west and Kasalka Group andesitic rocks to the east. A 50 to 500 metre wide by >1,600 metre long, east-west trending, Babine feldspar ± hornblende ± biotite porphyry dyke has been affected by a complex pattern of alteration, ranging from unaltered to propylitic and phyllic assemblages. Several outcrops of quartz-feldspar porphyry and granodiorite to the west of the current target are believed to be apophyses of the Bulkley stock documented south of the Excalibur Property. Copper, gold, and molybdenum mineralization is indicated by anomalous soil values over the overburden-covered targets.

Historical work includes mapping, soil sampling, and geophysical surveys (1971-72, 2019-2022); Prospect Ridge added to that foundation with additional soil sampling and a six-line IP survey in 2025. The target remains entirely undrilled providing a rare, wide-open canvas in a district with a proven mineral endowment.

The case for a buried porphyry system at Excalibur is compelling: anomalous copper, molybdenum, and gold in soils; strong IP chargeability; and a high magnetic response flanked by the chargeability high. Together, these geophysical and geochemical signatures may be interpreted as mineralized potassic alteration zone ringed by a pyrite halo - closely mirroring the geological setting of the nearby Granisle and Bell Copper porphyry deposits of the Babine Plutonic Suite.

Figure 2 - Plan view of planned drilling and supporting geophysical and geochemical data.

Figure 3 - Oblique section view of planned drilling and supporting geophysical data.

Funded and Positioned for 2026 Drilling

Prospect Ridge enters this program fully funded and permitted for this phase of planned work5; and driving toward key milestones, with further updates and assay results to follow as work advances. The Company is also aggressively advancing two other projects in its portfolio in 2026, with drilling planned for the Camelot Project in the third quarter, making this a potentially pivotal year for shareholders.

First Nations Land Acknowledgement

Prospect Ridge acknowledges that Excalibur is situated within the traditional territory of the Lake Babine First Nation. Prospect Ridge is committed to developing positive and mutually beneficial relationships with First Nations based on trust and respect and a foundation of open and honest communications.

Qualified Person Statement

All technical information that forms the basis for the written disclosure in this press release has been approved by Ron Voordouw, Ph.D., P.Geo., Director of Geoscience for Equity Exploration Consultants Ltd., who is an independent consultant to the Company, and a qualified person as defined under the terms of National Instrument 43-101.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. is a British Columbia-based exploration and development company focused on critical metals and gold. Led by a seasoned management and technical team with over 100 years of combined mineral exploration experience, Prospect Ridge is advancing its north-central B.C.-located Golden Horseshoe and Cariboo projects - high-potential copper-gold systems positioned within some of Canada's most under-explored yet geologically endowed mineral belts.

Contact Information

Sources of Technical Information

(1) Subject to option payments totalling $159,000 and 920,000 shares and a 1.5% NSR royalty that may be reduced to 0.6% on payment of $400,000 prior to the definition of an indicated mineral resource.

(2) See Prospect Ridge press release dated June 16, 2026.

(3) See Amarc Resources Ltd. press release dated April 2, 2026.

(4) See American Eagle Gold Corp. press release dated May 8, 2026.

(5) See Prospect Ridge press release dated July 7, 2026.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements and information ("FLI") that may constitute forward-looking information within the meaning of applicable Canadian securities laws. FLI relates to future events or future performance and reflect the current expectations or beliefs of the Company's management. Anything that is not historical fact is FLI. Generally, FLI can be, without limitation, identified by the use of forward-looking wording such as "aims","advancing","poised","potential", potentially","plans", "intends", "believes", "expects", "anticipates" or "estimates", and statements or phrases that certain actions, events or results "may", "might", "could", "should" or "would" occur, and similar expressions. FLI is not historical fact, is made as of the date of this news release and includes, without limitation, statements and discussions of future plans, intentions, expectations, estimates and forecasts, and statements as to management's intentions and expectations with respect to, among other things, positive exploration results at the Excalibur project. FLI involves numerous risks and uncertainties, and are based on assumptions, and actual results might differ materially from results suggested in any FLI. These risks and uncertainties include, among other things, the availability of financing to continue exploration activities, the availability and cost of qualified exploration personnel and service providers, and that future exploration results at the Excalibur project will not be as anticipated. In making any FLI in this news release, the Company has applied several material assumptions, including without limitation, that future exploration results at the Excalibur project will be as anticipated and that financing and permitting are adequate. Although management has endeavored to evaluate and use reasonable assumptions and to identify important factors that could cause actual results to differ materially from those contained in FLI, these assumptions may prove incorrect and there may be other factors that cause results not to be as intended, expected, anticipated or estimated. There can be no assurance that FLI will prove to be accurate, and actual results and future events could differ materially from those expressed in FLI. Accordingly, readers should not place undue reliance on FLI, and are further cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any FLI expressed or incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

SOURCE: Prospect Ridge Resources Corp.

Item 1 of 3 PepsiCo's new product of Doritos and Cheetos NKD (no dyes) for sale in a Walmart store in Encinitas, California, U.S., January 20, 2026. REUTERS/Mike Blake/File Photo

[1/3]PepsiCo's new product of Doritos and Cheetos NKD (no dyes) for sale in a Walmart store in Encinitas, California, U.S., January 20, 2026. REUTERS/Mike Blake/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesPepsiCo's Q2 North America food sales fall 2%, volumes flatGLP-1 use reached 21% of US households in May 2026, data showsPepsiCo food volumes have fallen in four of the last six quartersJuly 14 (Reuters) - Americans built one of the world's ​great snacking cultures. Now PepsiCo (PEP.O), opens new tab is discovering just how fast that can shift.

With one in five American households using ‌GLP-1 weight-loss drugs, surging living costs, and a broader shift toward healthier eating, it is getting harder for the company to reignite growth. The pressure showed up in its quarterly results last week.

Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.

Sales in the Frito-Lay and Pepsi soda maker's North American food business slipped 2%, while volume was flat in the second quarter ​ended June 13, even after earlier price cuts of up to 15% on some of its biggest products including Lay's, Doritos, ​Cheetos and Tostitos.

That marked a reversal from the modest recovery investors thought they were seeing at the start ⁠of the year, when volume growth improved to around 2% in the first quarter, with the North America food business returning to ​growth.

Volumes at its food business have fallen four times in the last six quarters.

The contrast with Coca-Cola (KO.N), opens new tab is particularly sharp.

PepsiCo's North America beverage ​volume fell 4% in the latest quarter, while Coca-Cola reported a 4% growth in the region three months earlier, underscoring the challenges facing PepsiCo's snack-heavy portfolio as consumers become more selective about what they eat and drink.

Coca-Cola's stock has risen more than 20% so far this year, while PepsiCo is down around 4%.

PepsiCo's ​results are likely to bring more scrutiny from activist investor Elliott Investment Management, which disclosed a roughly $4 billion stake nearly 10 months ago ​and has pushed the company to reinvigorate its soda business, boost its share price and explore selling non-core food assets.

Investors "certainly want better volumes in the face ‌of them ⁠lowering price," said Stephanie Link, chief investment officer at Hightower Advisors, which holds PepsiCo stock.

SNACKING BECOMES MORE INTENTIONALAmericans are increasingly gravitating toward food with perceived health benefits such as higher protein, lower sugar and added fiber.

This comes as GLP-1 adoption has increased to 21% of U.S. households in May 2026, from 9% in January 2025, with users buying fewer sweet treats and cutting back on salty snacks, according to a ​PwC analysis of Numerator data.

"Consumers ​have moved from snacking on autopilot ⁠to making much more deliberate decisions about what they eat and how often," said Suzy Davidkhanian, vice president and principal analyst at eMarketer.

For PepsiCo, whose food brands including Ruffles and PopCorners generate about 58% ​of its annual revenue, the shift threatens one of the key engines that has driven growth for ​decades.

Analysts said any ⁠turnaround hinges not just on affordability, but on how quickly PepsiCo capitalizes on the demand for functional products.

The company's executives said last week that improvement in its North America business was likely to be more gradual than expected.

"PepsiCo now finds itself competing harder for every dollar, and increasingly that ⁠competition is ​about relevance as much as price," said Katherine Machado O'Hara, founder of marketing consultancy ​The Oxigeno Project.

The company "must rethink its 'giant in the room' mentality and support their innovation teams to allow products to market much faster ... A year late isn't just a ​delay, it can mean missing the trend entirely."

Reporting by Anuja Bharat Mistry and Aishwarya Venugopal in Bengaluru; Editing by Sayantani Ghosh and Sriraj Kalluvila

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

The IBM logo is seen during the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 12, 2025. REUTERS/Benoit... Purchase Licensing Rights, opens new tab Read more

July 14 (Reuters) - IBM's (IBM.N), opens new tab preliminary second-quarter revenue forecast ​came below Wall Street estimate ‌on Tuesday, as customers prioritized spending on AI infrastructure, including servers, ​storage and memory purchases, sending ​its shares slumping 17% in ⁠premarket trading.

The results reflect an ​industry-wide shift in technology spending ​toward AI infrastructure, reducing budgets for traditional software.

The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.

According to the preliminary results, the ​company expects revenue of $17.2 billion ​during the quarter, compared with analysts' estimate ‌of $17.86 ⁠billion, according to data compiled by LSEG.

Adjusted earnings per share is expected to be $2.93, compared ​with the estimate of $3.02.

IBM ​CEO ⁠Arvind Krishna said in a letter to investors ​that in this quarter ​the ⁠company "faltered" in adapting quickly enough to the evolving market conditions, leading ⁠to "numerous ​large deals" not ​closing as expected.

Reporting by Harshita Mary Varghese ​in Bengaluru; Editing by Shilpi Majumdar

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

Drug pricing has been hanging over the pharmaceutical industry for years, and the Trump administration didn't eliminate that pressure. It did, however, pursue voluntary pricing agreements with many of the industry's largest drugmakers. Since late 2025, the Trump administration has reached voluntary most-favored-nation (MFN) pricing agreements with 17 of the world's largest pharmaceutical manufacturers, including Pfizer (PFE +1.32%), AbbVie (ABBV 0.03%), and Bristol Myers Squibb (BMY +3.06%).

These agreements generally align prices for certain drugs with those paid in comparable developed countries, expand discounted direct-to-consumer purchasing through the TrumpRx platform, and provide MFN pricing for certain Medicaid purchases. So the obvious question is: Will lower drug prices automatically translate into lower profits? Let's take a closer look and find out.

Image source: Getty Images.

Pfizer moved first Pfizer became the first major pharmaceutical company to reach an agreement with the administration, offering discounts on more than 30 branded medicines. Management has framed the initiative as a way to improve affordability while preserving incentives for pharmaceutical innovation.

Now, that might appear negative for revenue; lower prices generally mean the company makes less per prescription. But Pfizer has another problem that arguably matters more: It needs to replace revenue lost from the decline of its COVID-19 products. The company's own projections assumes an additional $1.5 billion decline in COVID-related revenue, separate from revenue pressure caused by patent expirations.

Today's Change

(

1.32

%) $

0.32

Current Price

$

24.49

That said, Pfizer is investing heavily in oncology, vaccines, and obesity treatments, while pursuing additional cost reductions. A clearer pricing framework, even if it results in somewhat lower prices, could reduce regulatory uncertainty and help management make longer-term capital allocation decisions.

AbbVie has more flexibility Compared to Pfizer, AbbVie enters this environment from a position of strength. You see, Humira, once the world's best-selling drug, has already faced years of biosimilar competition. Management spent considerable time preparing for that transition with newer immunology drugs Skyrizi and Rinvoq, which now drive much of the company's growth.

Those products continue posting strong double-digit percentage sales increases, giving AbbVie a much more diversified business than it had just a few years ago. Skyrizi has become one of its most important growth drivers, generating nearly $4.5 billion in first-quarter 2026 sales, up 31% from a year earlier. Rinvoq continues delivering strong growth across multiple autoimmune diseases, including rheumatoid arthritis, Crohn's disease, ulcerative colitis, and atopic dermatitis. In the first quarter, Rinvoq revenue increased 23% year over year to roughly $2.1 billion, making it one of AbbVie's fastest-growing blockbuster medicines.

Today's Change

(

-0.03

%) $

-0.08

Current Price

$

248.00

Together, the two therapies are generating billions of dollars in annual revenue and are expected to more than offset the decline in Humira sales over the next several years. That transition leaves AbbVie less dependent on a single blockbuster drug and better positioned to absorb future pricing pressure.

Bristol Myers Squibb needs to fill a gap Bristol Myers Squibb faces a different challenge, as drug pricing isn't its only issue. Several of its top-selling products are already approaching (or facing) patent expirations, meaning they will be hit with competition from cheaper imitations. Revlimid has been steadily losing revenue as generic competition expands, while Eliquis, its blockbuster blood thinner co-marketed with Pfizer, is expected to face similar pressure later this decade.

Together, those products have generated tens of billions of dollars in annual sales, leaving Bristol Myers with a significant revenue gap to fill. Management has responded by launching newer medicines, expanding its late-stage pipeline, and pursuing acquisitions to strengthen its oncology, immunology, and cardiovascular portfolios. Whether those newer therapies can replace the revenue lost from aging blockbusters will likely have a much greater impact on long-term earnings than modest changes in drug pricing.

Today's Change

(

3.06

%) $

1.76

Current Price

$

59.34

The industry appears to be adapting So far, it seems as though the industry is adapting calmly, without any major red flags. And rather than mounting broad public opposition, many large pharmaceutical companies have chosen to negotiate. By April 2026, agreements included manufacturers that represent roughly 86% of the branded U.S. pharmaceutical market.

This is mostly the result of investor behavior. It's no secret that investors generally dislike regulatory uncertainty more than they dislike modest reductions in profitability. And the agreements may also provide other benefits, including tariff relief for participating manufacturers that expand U.S. production under separate administration policies. To put it simply: Complying, rather than fighting, was the most reasonable and sound strategy.

To be sure, drug pricing is becoming a larger factor in pharmaceutical investing, but it shouldn't become the only factor. Pipeline quality, research productivity, acquisitions, and manufacturing execution will continue driving long-term shareholder returns.

For Pfizer, the priority remains rebuilding growth beyond COVID products. For AbbVie, it's sustaining momentum from Skyrizi and Rinvoq. For Bristol Myers, success depends largely on replacing aging blockbuster products with next-generation therapies.

The new pricing agreements certainly change the industry's operating environment. But they don't eliminate what has always mattered most in pharmaceuticals: Companies that consistently develop valuable new medicines tend to create the most value for shareholders over time.

Eli Lilly (LLY 0.09%) and Novo Nordisk (NVO 0.35%) today participate in one of the most exciting growth markets in healthcare: the weight loss drug market, one that's on track to reach nearly $100 billion in a few years. Novo was the first to launch GLP-1 drugs and see them deliver blockbuster revenue, but it was quickly followed by Lilly, and this company also saw great successes.

In fact, as of about a year ago, Lilly actually jumped ahead of Novo and is now the GLP-1 leader in the U.S. and internationally. This leadership has translated into double-digit revenue growth as well as stock price performance, as investors applauded Lilly's accomplishments.

But right now, is one recent disturbing trend bad news for Lilly in this key growth market? Let's find out.

Image source: Getty Images.

Today's weight loss drugs So, first, a bit of background on these pharma companies' portfolios. Novo sells semaglutide under the brand names Ozempic and Wegovy, for type 2 diabetes and weight loss, respectively. Lilly sells tirzepatide as Mounjaro for the former indication and Zepbound for the latter. These drugs, in injectable format, act on hormonal pathways involved in digestion and therefore help regulate blood sugar levels and appetite. Patients self-inject on a weekly basis.

Demand has been high for these products, even resulting in shortages in the past -- in recent times, though, supply has been able to meet demand since both companies ramped up manufacturing capacity.

The Novo and Lilly drugs have proven to be efficacious and safe, and they are easy for patients to fit into their routines -- all of this has contributed to their popularity. Why has Lilly won leadership in the market? It may be due to data showing that the Lilly drugs lead to greater weight loss. In a head-to-head study, Zepbound helped patients lose an average of 20% of their body weight, while Wegovy generated average weight loss of 13% at 72 weeks.

But these aren't the only weight loss drugs sold by Lilly and Novo. Each has launched new oral weight loss drugs in recent times, and these could represent the next wave of growth for the companies. Novo won approval for oral Wegovy late last year, and Lilly won approval for Foundayo, its oral GLP-1 drug, this spring.

Today's Change

(

-0.09

%) $

-1.05

Current Price

$

1,187.53

Prescriptions for Foundayo And this brings me to the disturbing trend that could worry Lilly investors. Weekly prescription growth for Foundayo has remained flat over the past five weeks, FiercePharma reported, citing a July 10 note from Jefferies analysts. This is based on data gathered by IQVIA.

In the 13th week post-launch, the prescription count came in at 19,550. This is compared to the figure of more than 105,000 for the Wegovy pill at the same point after its launch.

This information shows us that doctors haven't been writing more and more prescriptions for the new Lilly drug -- and the oral Wegovy launch appears much stronger. Should Lilly shareholders worry about this disturbing trend?

There are a couple of differences to note. Oral Wegovy is the same drug -- semaglutide -- as its injectables, while Foundayo is a totally new GLP-1 product. So doctors and patients may take more time to get on board when it's not a drug they know well.

Second, major pharmacy benefit managers were on board with coverage of Wegovy as of the first week, but coverage came later for Foundayo, according to FiercePharma.

These elements may have offered oral Wegovy an advantage -- and more momentum at the launch. It's important to note that Foundayo may progressively appeal to doctors and patients looking for convenience: While oral Wegovy comes with food and beverage restrictions, Foundayo doesn't.

Novo dominated the injectable GLP-1 space, and then Lilly gradually built its leadership; so this could happen in the oral weight loss market too. And even if it doesn't, Lilly's 60% share of the U.S. market and deep pipeline of weight loss candidates mean investors shouldn't worry about the initial launch trend of one product. Lilly's weight loss drug portfolio is solid, and the company remains well-positioned to deliver earnings growth and stock performance over the long term.

Ultra-compact chip delivers trusted positioning, navigation, and timing resilience amid rising spoofing and jamming threats

, /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice, data, and positioning, navigation, and timing (PNT) satellite services, today announced the commercial availability of the Iridium PNT ASIC, a first-to-market chip designed to help protect GPS- and GNSS-dependent devices from jamming, spoofing, and other growing threats.

Iridium PNT ASIC Since the Iridium PNT ASIC's unveiling in October 2025, Iridium has received unprecedented demand from more than 150 organizations worldwide, spanning maritime, unmanned and autonomous systems (UXV), aviation, telecommunications, and other critical infrastructure sectors.

"The market response to the Iridium PNT ASIC has reinforced what we're hearing from customers around the world: assured PNT is becoming an essential capability across critical industries," said Dr. Michael O'Connor, executive vice president, PNT, Iridium. "With commercial availability, we're enabling manufacturers to integrate trusted timing and location capabilities into smaller, more efficient designs, making assured PNT accessible to more applications than ever before."

Measuring just 8 by 8 millimeters and weighing less than 0.2 grams, the application-specific integrated circuit (ASIC) represents a major step forward in expanding access to assured PNT technologies at scale. The chip delivers cryptographically secure timing and location data from the Iridium satellite network through one-way signal bursts that are powerful enough to work where traditional GNSS often cannot, including inside structures and in contested environments.

By continuously validating signal integrity and delivering trusted PNT data anywhere on Earth, the Iridium PNT ASIC provides a powerful new foundation not only for resilient navigation, but also timing. Financial markets, telecommunications networks, power grids, and governments all depend on precise time synchronization to coordinate operations and maintain reliable service.

As global reliance on GNSS continues to grow, so does the frequency and sophistication of signal interference such as jamming and spoofing. Recent incidents including the May 2026 in-flight jamming of United Kingdom Defence Secretary John Healey highlight increasing operational and safety risks associated with GNSS spoofing and jamming across commercial transportation, aviation, and critical infrastructure environments. According to a 2019 study sponsored by the U.S. National Institute of Standards and Technology (NIST), a GPS outage was estimated to cost the U.S. economy approximately $1 billion per day. Adjusted for inflation, that figure would exceed $1.3 billion per day in 2026, underscoring the growing importance of reliable backup solutions.

Compact Assured PNT Integration Underway

Solace Communications, a provider of mission-critical communications solutions for demanding and remote environments, is one of several Iridium partners integrating the Iridium PNT ASIC. Its Vector family of assured PNT products combines Iridium PNT with multi-band GNSS and inertial sensing to deliver resilient positioning, navigation, and timing with continuous confidence scoring, while LTE and Iridium Short Burst Data® (SBD®) provide secure telemetry and messaging.

"The Iridium PNT ASIC supports our wider strategy of building one of the first edge-native, confidence-scored assured PNT platforms around multiple sources of positioning, timing, and motion data," said Adam Elcock, co-founder, Solace Communications. "Future navigation systems must do more than report a position. They must continuously determine whether that position and its timing can be trusted. That is the role Vector has been designed to fulfill and is now being deployed."

Skyband Systems, a developer of aviation-grade, PNT-resilient navigation hardware, will integrate the Iridium PNT ASIC into its M100 LRU for business and commercial aviation. The M100 combines Iridium PNT with onboard inertial sensing to alert crews to GNSS jamming and spoofing while providing aircraft location for enhanced situational awareness.

"Iridium's secure and powerful global service is the perfect platform for Skyband's resilient navigation product," said Robert Wiggenhorn, co-founder, Skyband Systems. "We are excited to partner with Iridium as they launch the Iridium PNT ASIC and look forward to further strengthening their legacy of aircraft innovation and safety."

Iridium continues to engage with developers, original equipment manufacturers, integrators, and technology providers to incorporate assured PNT capabilities into next-generation solutions. Those interested in ordering the Iridium PNT ASIC are encouraged to visit www.iridium.com/pnt/asic.

About Iridium Communications Inc.
Iridium Communications Inc. (Nasdaq: IRDM) operates the world's only truly global mobile satellite network. It serves as a platform for innovation, enabling voice, data, and messaging, positioning, navigation, and timing (PNT), and aircraft surveillance services anywhere on Earth. Through its satellite constellation and integrated capabilities like Aireon, the world's only space-based air traffic surveillance system, Iridium delivers services that support safety-focused operations across aviation, maritime, government, industrial, and consumer markets. The company is a leader in satellite Internet of Things (IoT) connectivity and is advancing direct-to-device (D2D) communications based on open standards to expand access to satellite services.

Headquartered in McLean, Virginia, Iridium innovates through an ecosystem of more than 500 technology and distribution partners, serving millions of customers worldwide. For more information visit www.iridium.com.

Press Contact:
Jordan Hassin
Iridium Communications Inc.
[email protected]
+1 (703) 287-7421

Investor Contact:
Kenneth Levy
Iridium Communications Inc.
[email protected]
+1 (703) 287-7570

SOURCE Iridium Communications Inc.

Main Street Capital (MAIN 0.63%) will make its latest monthly dividend payment this week. That payment will be 1.9% above last month's level (and 3.9% higher than the year-ago payment). It's the 12th dividend increase since the end of 2021.

When adding in the business development company's (BDC) recently paid supplemental quarterly dividend, its annualized yield is up over 8% at the recent share price. Here's a look at the safety of this high-yielding payout as its earnings soften.

Image source: Getty Images.

Earnings are softening while the dividend keeps rising Main Street Capital reported its first-quarter earnings in early May. The BDC generated $90.8 million in distributable net investment income (DNII), or $1.00 per share. DNII is a good proxy for the dividends the company can afford to pay.

The concern with that number is two-fold. DNII is down from $1.09 per share in the fourth quarter and $1.02 per share in the year-ago period. That's due to higher total expenses and the impact of a 2.2% increase in its weighted-average shares outstanding resulting from equity issuances, dividend reinvestment plans, and equity compensation plans, partially offset by higher total investment income.

While earnings are falling, the dividend continues to rise. Main Street Capital's monthly dividend payment is up to $0.265 per share, while it has continued to maintain its supplemental quarterly payment of $0.30 per share. The combined quarterly outlay is now up to $1.095 per share, well above DNII.

Today's Change

(

-0.63

%) $

-0.33

Current Price

$

52.51

Two different types of dividends Main Street Capital has a unique dividend policy among BDCs. It set its monthly dividend payment at a level it can sustain. At the current level, the payment adds up to $0.795 per share each quarter, comfortably below its DNII. As a result of this strategy of setting the base monthly dividend at a lower level, Main Street Capital has never reduced its monthly dividend since its 2007 IPO. Instead, this base payment has grown by 141%.

The quarterly supplemental dividends are extra payments intended to ensure the BDC remains compliant with IRS regulations requiring it to distribute at least 90% of its taxable net income to shareholders. This supplemental payment can rise and fall based on its earnings. Main Street has currently made 19 consecutive supplemental quarterly payments, including maintaining the $0.30 per share rate since early 2023.

While this rate could fall in the future, Main Street Capital's management team currently expects to continue paying significant supplemental dividends, including another one in September. That's due to its expected strong performance in the second quarter, which included the profitable exit of an equity investment. The BDC realized a $46.4 million gain on a $6.4 million investment during the period. Gains on equity investments are a key driver of monthly dividend increases and supplemental dividend payments.

One dividend you can bank on, and another extra payment Main Street Capital aims to provide investors with a sustainable and growing monthly dividend. It also offers the potential to collect a supplemental quarterly income stream when it has extra income to distribute. While its earnings have softened recently, a profitable equity investment exit in the second quarter should boost its DNII, enabling it to continue paying a significant supplemental quarterly dividend. That makes the more than 8% yield safe for now.

July 14, 2026 05:30 ET  | Source: Lithia & Driveway

MEDFORD, Ore., July 14, 2026 (GLOBE NEWSWIRE) -- Lithia & Driveway (NYSE: LAD) today announced its second quarter 2026 results will be released before the market opens on Wednesday, July 29, 2026. A conference call to discuss the earnings results is scheduled for the same day at 10:00 a.m. Eastern Time.

How to Participate

The conference call may be accessed by telephone at (877) 407-8029. To listen live on our website, or for replay, visit investors.lithiadriveway.com and click on quarterly earnings.

About Lithia & Driveway (LAD)
Lithia & Driveway (NYSE: LAD) is the largest global automotive retailer making Auto Done Easy by providing simple, transparent, and convenient experiences throughout the ownership lifecycle. LAD helps customers take care of any vehicle need through a comprehensive network of physical locations, e-commerce platforms, captive finance solutions, fleet management offerings, and other synergistic adjacencies. Celebrating 80 years in business in 2026, LAD consistently delivers profitable growth in a massive and unconsolidated industry. Its highly diversified and competitively differentiated design provides LAD with the flexibility and scale to pursue its vision to modernize personal transportation solutions wherever, whenever and however consumers desire.

The 80th Celebration
https://www.lithiadriveway.com/80-years

Connect with Us!
All Cars: https://www.lithia.com
Driveway.com (Buy, sell, trade, or finance entirely online): https://www.driveway.com
GreenCars (All things sustainable vehicles): https://www.greencars.com
DFC (Auto Financing): https://www.drivewayfinancecorp.com
Investor Relations: https://investors.lithiadriveway.com/
Careers: https://www.lithiacareers.com
Lithia & Driveway on Instagram
https://www.instagram.com/lithiamotors/?hl=en
https://www.instagram.com/driveway_hq/
Lithia & Driveway on Facebook
https://www.facebook.com/lithiaanddriveway/
https://www.facebook.com/DrivewayHQ
Lithia & Driveway on X
https://x.com/lithiadriveway
https://x.com/DrivewayHQ
https://x.com/GreenCarsHQ
Lithia & Driveway on LinkedIn
https://www.linkedin.com/company/lithia-motors/
Lithia & Driveway on YouTube
https://www.youtube.com/@LithiaDriveway

Media Contact

[email protected]  

Highlights

Hole 26MN-090 returned, along the Zanzibar Trend:0.91 g/t gold over 20.63 metres ("m") from 74.38 m and 16.47 g/t gold over 2.35 m from 143.41 m within the Gold Hill Formation.Hole 26MN-099 returned, along the Zanzibar Trend:0.88 g/t gold over 18.59 m from 98.76 m at the Zanzibar-Gold Hill Formation stratigraphic contact, including 1.28 g/t gold over 9.45 m from 101.19 m.2.10 g/t gold over 16.15 m from 126.95 m within Gold Hill Formation fault breccia, including 2.91 g/t gold over 10.27 m from 128.32 m.Hole 26MN-101 returned, at Goldwedge:1.60 g/t gold over 33.53 m from 6.70 m within the Zanzibar Formation, including 7.11 g/t gold over 5.18 m from 33.83 m.Hole 26MN-104 returned, along the Zanzibar Trend:35.23 g/t gold over 1.01 m from 139.26 m within the Gold Hill Formation.Hole 26MN-110 returned, at Goldwedge:2.05 g/t gold over 97.99 m from 64.16 m within the Gold Hill Formation, including; 18.19 g/t gold over 3.17 m from 85.95 m, 11.41 g/t gold over 4.57 m from 127.1 m, and 8.98 g/t gold over 7.32 m from 144.01 m. Also, within the Gold Hill Formation, 1.75 g/t gold over 14.63 m from 180.44 m.Vancouver, British Columbia--(Newsfile Corp. - July 14, 2026) - Scorpio Gold Corp. (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) ("Scorpio Gold", or the "Company") is pleased to announce results from eighteen step-out holes of the Phase Two drill program at the Manhattan District Project ("Manhattan"), Nevada, USA: 26MN-087, 26MN-090, 26MN-093 through 26MN-095, 26MN-097 through 26MN-108, and 26MN-110, see Figure 1. The results are tabulated in Table 1 and discussed below. Scorpio Gold has drilled 102 drill holes to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045, 26MN-046 through 26MN-112, for a grand total of 28,939 m. With the results herein, Scorpio Gold has reported assays on 99 of these (25MN-011 through 25MN-045, 26MN-046 through 26MN-108, and 26MN-110, totalling 27,793 m, and assays are pending from 3 holes (26MN-109, 26MN-111 and 26MN-112), totalling 1,146 m. The pending results will be reported as they become available.

In addition to the Phase Two drill program, the Company is reviewing historic core that is available at Manhattan and analyzing any historic core and pulps for silver. This new silver data from historic materials is supplementary to silver data that has been collecting since 2024 on new core drilled by the Company. Silver, or a gold equivalent, has not been used or included in any results to date. Results from drill hole GWUG-11-11 are also included in Table 1 and discussed below. Any new significant results from historic core or pulps will be reported as they become available.

"Manhattan continues to deliver high-grade gold with remarkable consistency, and these results deepen our understanding of why. The 97.99 metre intercept grading 2.05 g/t gold in hole 26MN-110 demonstrates that Goldwedge hosts broad, continuous zones of mineralization punctuated by high-grade intervals. The combination of structural and stratigraphic intersection at Goldwedge is providing the kind of grade-and-thickness combination that drives meaningful resource growth at Manhattan.

Along the Zanzibar Trend, mineralization is also proving to be strongly controlled by stratigraphy and structure, with high-grade gold recurring at the Zanzibar-Gold Hill contact and within fault breccias hosting multiple generations of epithermal veining — hallmarks of a large, long-lived gold system. Importantly, these step-outs tested within and beyond the boundaries of our maiden resource, so every new intercept is either adding new mineralization or upgrading material outside the current block model. We have also begun analyzing multi-element ICP data received to date, which include silver values. Silver was historically produced alongside gold in the Manhattan District, and we see the potential for silver to be incorporated into future resource estimates — adding a byproduct dimension that our maiden resource did not capture. With 99 of 102 Phase Two holes now reported and the system open in multiple directions, Manhattan keeps reinforcing its district-scale potential," said Harrison Pokrandt, VP Exploration for Scorpio Gold.

Figure 1. Surface Plan Map of drill holes. Map Inset areas shown in Figures 2 and 3.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/305095_5e645079f465d834_002full.jpg

Zanzibar Trend: Drill holes 26MN-087, 26MN-090, 26MN-093, 26MN-094, 26MN-097, 26MN-099, and 26MN-104 are all approximately 50 m step-outs along the Zanzibar Trend. Hole 90 had two substantial zones, 0.91g/t over 20.6m and 16.47 g/t over 2.35m. These add to the significant mineralization recently encountered along the Zanzibar Trend, including:

3.14 g/t gold over 49.62 m from 59.95 m (25MN-044)0.66 g/t gold over 57.64 m from 29.59 m (25MN-045)2.10 g/t gold over 22.25 m from 34.14 m (26MN-063)2.74 g/t gold over 16.49 m from 45.45 m (26MN-066)10.40 g/t gold over 5.67 m from 34.29 m (26MN-067)1.94 g/t gold over 17.07 m from 55.47 m (26MN-067)12.78 g/t gold over 5.91 m from 134.51 m (26MN-067)0.69 g/t gold over 23.23 m from 4.05 m (26MN-070)2.68 g/t gold over 11.34 m from 0.76 m (26MN-071)2.77 g/t gold over 12.68 m from 58.64 m (26MN-080)5.19 g/t gold over 6.55 m from 62.03 m (26MN-080)Goldwedge: Drill holes 26MN-095, 26MN-098, 26MN-100, 26MN-101, 26MN-103, 26MN-105, 26MN-106, 26MN-107, 26MN-108, and 26MN-110 are all approximately 50 m step-outs, both laterally and at depth, at Goldwedge. Recent drilling at Goldwedge, including the results within, has demonstrated consistently strong mineralization:

0.59 g/t gold over 49.23 m from 31.69 m (26MN-048)11.84 g/t gold over 8.39 m from 106.21 m (26MN-075)1.27 g/t gold over 45.23 m from 137.95 m (26MN-086)1.17 g/t gold over 21.58 m from 111.71 m (26MN-089)0.62 g/t gold over 16.28 m from 137.03 m (26MN-089)2.04 g/t gold over 11.83 m from 115.67 m (26MN-091)0.68 g/t gold over 25.02 m from 142.04 m (26MN-091)4.43 g/t gold over 5.18 m from 172.21 m (26MN-091)6.95 g/t gold over 11.98 m from 242.99 m (26MN-091)Black Mammoth: Drill hole 26MN-102 is a 50 m step-out to the east of drill hole 26MN-096. Black Mammoth is a ~200-250 m step-out from Goldwedge. Significant mineralization at Black Mammoth, including the results within, includes:

0.75 g/t gold over 24.69 m from 230.12 m (26MN-053)1.02 g/t gold over 40.23 m from 195.69 m (26MN-057)0.99 g/t gold over 41.45 m from 195.68 m (26MN-057)0.78 g/t gold over 12.92 m from 293.71 m (26MN-057)0.62 g/t gold over 62.21 m from 230.43 m (26MN-069)6.04 g/t gold over 4.86 m from 308.23 m (26MN-072)0.91 g/t gold over 15.79 m from 368.65 m (26MN-072)0.58 g/t gold over 18.04 m from 311.05 m (26MN-078)0.57 g/t gold over 17.98 m from 157.28 m (26MN-092)0.83 g/t gold over 18.01 m from 277.68 m (26MN-092)8.10 g/t gold over 1.52 m from 450.35 m (26MN-092)2.56 g/t gold over 13.38 m from 293.28 m (26MN-096)Further to the 2026 drilling results, historic drill hole GWUG-11-11, was relogged and sampled and returned 8.59 g/t gold over 6.1 m from 9.75 m. This new result addresses gaps found in the Manhattan database compilation. This drill hole was drilled underground at Goldwedge in 2011.

All 2026 drill holes tested within and beyond the Inferred Resource Constraining Pit ("IRCP"), targeting new mineralization outside of the 2025 MRE block model, see Figures 5 and 7. For further details see "Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property, Nye County, Nevada" with an effective date of June 4, 2025, on Scorpio Gold's website at https://wp-scorpiogold-2025.s3.ca-central-1.amazonaws.com/media/2025/10/SGN_Manhattan_Mineral_Resource_Estimate_-_Amended_43-101.pdf.

Figure 2. Inset Surface Plan Map of Zanzibar Trend Target Area, with drill hole traces projected to surface and result highlights noted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/305095_5e645079f465d834_004full.jpg

Figure 3. Inset Surface Plan Map of Goldwedge Target Area, with drill hole traces projected to surface and result highlights noted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/305095_5e645079f465d834_006full.jpg

Drill Hole IDTarget Azimuth / DipFrom (m)To (m)Intercept¹ (m)Gold (g/t)26MN-087Zanzibar Trend30.6341.4510.820.40354 m037° / -45°222.78225.162.381.19

321.48329.377.890.5626MN-090Zanzibar Trend74.3895.0120.630.91330 m026° / -45°143.41145.762.3516.47

156.18168.6812.500.29

288.13297.279.140.8126MN-093Zanzibar Trend67.9785.0717.100.41138 m000° / -60°107.29123.6016.310.3426MN-094
144 mZanzibar Trend
035° / -45°29.6535.175.520.1926MN-095Goldwedge6.4037.6431.240.29107 m004° / -45°40.8552.4311.580.20

64.0673.309.240.3026MN-097
168 mZanzibar Trend
045° / -62°106.16118.1411.980.3626MN-098Goldwedge4.429.755.330.28108 m041° / -80°13.4733.2219.750.19

104.51108.203.690.4726MN-099Zanzibar Trend63.5275.1311.610.77323 m252° / -45°89.3195.716.400.40

98.76117.3518.590.88
including101.19110.649.451.28

126.95143.1016.152.10
including128.32138.5910.272.91

228.78242.8614.080.1826MN-100
65 mGoldwedge
060° / -45°3.6635.0831.420.2126MN-101Goldwedge6.7040.2333.531.60116 m050° / -45°

including33.8339.015.187.11

46.9454.327.381.82
including51.6754.322.653.89

61.2770.299.020.65
including63.2264.010.793.76

85.0489.894.851.72
including85.0488.613.572.2326MN-102
512 mBlack Mammoth
205° / -45°398.83402.583.750.4426MN-103Goldwedge19.8228.358.530.4181 m043° / -73°33.1444.8111.670.2226MN-104Zanzibar Trend99.97102.292.322.04385 m150° / -45°110.95115.464.511.75

139.26140.271.0135.23

294.59295.901.311.3526MN-105Goldwedge12.6539.3226.670.2368 m080° / -45°

including25.7639.3213.560.3126MN-106
68 mGoldwedge
130° / -45°13.4117.373.960.2326MN-107Goldwedge49.3870.4121.030.31429 m031° / -49°77.5781.844.270.32

146.61162.9216.310.4426MN-108Goldwedge22.5543.8921.340.1582 m145° / -80°54.5360.055.520.34

65.0778.3013.230.5226MN-110Goldwedge12.8024.9912.190.20330 m020° / -52°64.16162.1597.992.05
including85.9589.123.1718.19
including127.10131.674.5711.41
including144.01151.337.328.98

180.44195.0714.631.75including192.63195.072.446.80GWUG-11-11Goldwedge9.7515.856.108.5983 m229° / -56°

including12.8114.331.5233.13¹ Intervals contain no more than 3 continuous metres grading less than 0.1 g/t gold.

Table 1. Results from the current batch of drill holes. Note: There is insufficient geological information to estimate a true width for the drill intercepts reported.

Zanzibar Trend Results:
26MN-087: This drill hole contains three significant intervals hosted within Cambrian Gold Hill Formation brecciated fine grained clastic meta-sediments. The first interval of 0.40 g/t gold over 10.82 m from 30.63 m is oxidized and brecciated. The second interval of 1.19 g/t gold over 2.38 m from 222.78 m is comprised of a re-lithified breccia. The last interval of 0.56 g/t gold over 7.89 m from 321.48 m is a breccia with obvious evidence of faulting. The later interval ends in Oligocene Round Rock Formation ("Manhattan Caldera") ash and lapilli tuff volcanic units, from 328.54 m to 329.37 m. The different breccias suggest multiple mineralization events.

26MN-090: This drill hole contains four significant intervals hosted within Cambrian Gold Hill Formation fine grained carbonate and clastic meta-sediments, including breccia and marble. The first interval of 0.91 g/t gold over 20.63 m from 74.38 m sits directly below a large, oxidized fault (~73 m) and is largely oxidized and broken muds and limestones. The second interval of 16.47 g/t gold over 2.35 m from 143.41 m contains a near-parallel to core axis quartz-calcite vein and is constrained to a limestone bed with strong alteration above the interval. The third and fourth intervals of 0.29 g/t gold over 12.5 m from 156.18 m and 0.81 g/t gold over 9.14 m from 288.13 m are within brecciated meta-mud and siltstones. See cross-section A to A' (Figure 5).

26MN-093: This drill hole contains two significant intervals hosted within Ordovician Zanzibar Formation limestones and carbonaceous muds. The first interval of 0.41 g/t gold over 17.1 m from 67.97 m is within re-lithified brecciated muddy limestone. The last interval of 0.34 g/t gold over 16.31 m from 107.29 m is within broken, vein filled, brecciated and oxidized limestone. This interval sits directly above sheared carbonaceous mudstone (starting at 123.60 m), which sits above Manhattan Caldera volcanics (at 131.98 m). The different breccias suggest multiple mineralization events.

26MN-094: This drill hole contains one significant interval within the Ordovician Zanzibar Formation. The interval of 0.19 g/t gold over 5.52 m from 29.65 m is within bedded, vein filled limestone. This interval sits directly above a massive sheared carbonaceous mudstone (starting at 35.17 m).

26MN-097: This drill hole contains one significant interval that extends through the stratigraphic contact between the Ordovician Zanzibar and Cambrian Gold Hill Formations. The interval of 0.36 g/t gold over 11.98 m from 106.16 m is within Zanzibar Formation limestone and continues into Gold Hill Formation meta-mudstones at 112.68 m. The start of this interval is strongly oxidized and veined.

26MN-099: This drill hole contains two intervals within the Ordovician Zanzibar Formation. The first sits directly below the Manhattan Caldera volcanics contact, 0.77 g/t gold over 11.61 m from 63.52, within limestone and carbonaceous mudstones. The second Zanzibar Formation interval of 0.40 g/t gold over 6.4 m from 89.31 m is hosted withing strongly epithermal veined, bedded, limestone. One significant interval extends through the stratigraphic contact (at 103.33 m) between the Ordovician Zanzibar and Cambrian Gold Hill Formations, of 0.88 g/t gold over 18.59 m from 98.76 m, including 1.28 g/t gold over 9.45 m from 101.19 m. Two significant intervals are hosted entirely within the Cambrian Gold Hill Formation. The first interval of 2.10 g/t gold over 16.15 m from 126.95 m, including 2.91 g/t gold over 10.27 m from 128.32 m (see Figure 4), is hosted within a re-lithified breccia of fine-grained clastic meta-sediments, and sits directly above a marble bed. The last interval of 0.18 g/t gold over 14.08 m from 228.78 m sits directly above the Brougher Fault, and a marble bed, within fine grained clastic meta-sediments. See cross-section A to A' (Figure 5).

26MN-104: This drill hole contains four intervals within Cambrian Gold Hill Formation fine grained clastic meta-sediments. The first interval of 2.04 g/t gold over 2.32 m from 99.97 m sits directly above a marble bed with a gouge fault contact. The final three intervals of 1.75 g/t gold over 4.51 m from 110.95 m, 35.23 g/t gold over 1.01 m from 139.26 m, and 1.35 g/t gold over 1.31 m from 294.59 m contain strong epithermal vein textures throughout.

Figure 4. Drill hole 26MN-099, interval 131.67 m to 136.55 m, displaying Cambrian Gold Hill Formation re-lithified brecciated meta-silt and mudstones with quartz-calcite epithermal veins.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/305095_5e645079f465d834_008full.jpg

Figure 5. Cross-section A-A', showing gold grades with reported intervals highlighted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/305095_5e645079f465d834_010full.jpg

Goldwedge Results:
26MN-095: This drill hole contains three intervals within the Ordovician Zanzibar Formation. The first and second intervals of 0.29 g/t gold over 31.24 m from 6.40 m and 0.20 g/t gold over 11.58 m from 40.85 m, are within faulted and brecciated oxidized limestone and the bottom of each interval is a carbonaceous mudstone. The last interval of 0.30 g/t gold over 9.24 m from 64.06 m is similar to the first two intervals, but sits directly above Manhattan Caldera volcanics ("Volcanics") at 73.30 m.

26MN-098: This drill hole contains two intervals within the Ordovician Zanzibar Formation. Both intervals of 0.28 g/t gold over 5.33 m from 4.42 m and 0.19 g/t gold over 19.75 m from 13.47 m, are within faulted and brecciated oxidized limestone. One interval is within the Volcanics. The interval of 0.47 g/t gold over 3.69 m from 104.51 m is brecciated with veins throughout.

26MN-100: This drill hole contains one interval within the Ordovician Zanzibar Formation. The interval of 0.21 g/t gold over 31.42 m from 3.66 m is within faulted and brecciated oxidized limestone with veins throughout, and is directly above the Volcanics at 35.08 m.

26MN-101: This drill hole contains four intervals within the Ordovician Zanzibar Formation. The intervals are hosted within brecciated and faulted limestones and carbonaceous mudstones. The intervals are 1.60 g/t gold over 33.53 m from 6.70 m, including 7.11 g/t gold over 5.18 m from 33.83 m; 1.82 g/t gold over 7.38 m from 46.94 m, including 3.89 g/t gold over 2.65 m from 51.67 m; 0.65 g/t gold over 9.02 m from 61.27 m, including 3.76 g/t gold over 0.79 m from 63.22 m; and 1.72 g/t gold over 4.85 m from 85.04 m, including 2.23 g/t gold over 3.57 m from 85.04 m.

26MN-103: This drill hole contains two intervals within the Ordovician Zanzibar Formation. The intervals are hosted within brecciated and faulted limestones and carbonaceous mudstones. The intervals are 0.41 g/t gold over 8.53 m from 19.82 m and 0.22 g/t gold over 11.67 m from 33.14 m. The later interval is above the Volcanics contact at 54.07 m.

26MN-105: This drill hole contains one interval within the Ordovician Zanzibar Formation, directly above the Volcanics contact at 26.67 m. The interval of 0.23 g/t gold over 26.67 m from 12.65 m, including 0.31 g/t gold over 13.56 m from 25.76 m, is hosted within brecciated and faulted limestone and carbonaceous mudstone.

26MN-106: This drill hole contains one interval within the Ordovician Zanzibar Formation, directly above the Volcanics contact at 17.37 m. The interval of 0.23 g/t gold over 3.96 m from 13.41 m is hosted within brecciated and faulted limestone and carbonaceous mudstone.

26MN-107: This drill hole contains three intervals within the Cambrian Gold Hill Formation. The intervals are hosted within fine grained clastic meta-sediments and marble units. The intervals are 0.31 g/t gold over 21.03 m from 49.38 m, 0.32 g/t gold over 4.27 m from 77.57 m, and 0.44 g/t gold over 16.31 m from 146.61 m. All three intervals are controlled by faults and/or lithologic boundaries above or below the interval.

26MN-108: This drill hole contains three intervals within the Ordovician Zanzibar Formation. The intervals are hosted within brecciated and faulted limestone and carbonaceous mudstone units. The intervals are 0.15 g/t gold over 21.34 m from 22.55 m, 0.34 g/t gold over 5.52 m from 54.53 m, and 0.52 g/t gold over 13.23 m from 65.07 m. The later interval sits directly above the Volcanics at 78.30 m.

26MN-110: This drill hole contains three intervals within the Cambrian Gold Hill Formation. The intervals are hosted within fine grained clastic meta-sediments, marble units, and broken and re-lithified fault breccias. The intervals are 0.20 g/t gold over 12.19 m from 12.80 m; the headline interval of 2.05 g/t gold over 97.99 m from 64.16 m, including 18.19 g/t gold over 3.17 m from 85.95 m, 11.41 g/t gold over 4.57 m from 127.10 m, and 8.98 g/t gold over 7.32 m from 144.01 m (see Figure 6); and 1.75 g/t gold over 14.63 m from 180.44 m, including 6.80 g/t gold over 2.44 m from 192.63 m. The later interval sits directly above the Volcanics at 195.07 m.

GWUG-11-11: Apart of our relogging and sampling efforts of historic core, this drill hole contains one significant interval within the Ordovician Zanzibar Formation that was not previously available to the Manhattan database. The interval of 8.59 g/t gold over 6.1 m from 9.75 m, including 33.13 g/t gold over 1.52 m from 12.81 m, is hosted within faulted and brecciated limestones with strong epithermal vein textures.

Figure 6. Drill hole 26MN-110, interval 147.07 m to 154.54 m, displaying oxidized Cambrian Gold Hill Formation brecciated marbles with quartz-calcite epithermal veins.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/305095_5e645079f465d834_012full.jpg

Figure 7. Cross-section B-B', showing gold grades with reported intervals highlighted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/305095_5e645079f465d834_014full.jpg

Black Mammoth Results:
26MN-102: This drill hole contains one interval within the Cambrian Gold Hill Formation. The interval of 0.44 g/t gold over 3.75 m from 398.83 m is hosted within fine grained clastic meta-sediments.

QA/QC

HQ sized diamond drill core samples were cut in halves, then bagged and secured with security tags to ensure integrity during transportation to the Reno, NV, Paragon Geochemical facility or the Elko, NV, MSALABS facility for preparation. For quality assurance ("QA"), unmarked coarse blanks, unmarked certified reference materials, and requested laboratory duplicates were inserted into the sampling sequence. QA samples were systematically inserted into each batch of samples, amounting to approximately 10% of the run of samples. Samples were analyzed for gold using a two-cycle PhotonAssayTM analysis method (~500 g) of crushed material (70% passing 2 mm). All Paragon Geochemical and MSALABS facilities comply with ISO 17025:2017.

About the Manhattan District

Manhattan, located in the Walker Lane Trend of Nevada, USA, is road accessible and lies approximately 20 kilometers south of the operating Round Mountain Gold Mine (https://www.kinross.com/operations/default.aspx#americas-roundmountain), which has produced more than 15 million ounces of gold. For the first time, the Company has consolidated Manhattan's past-producing mines under a single entity that holds valuable permitting and water rights. Historically, Manhattan has produced approximately 700,000 ounces of gold from high-grade placer and lode operations dating from the late 1890s through to the mid-2000s.¹ The maiden mineral resource estimate (the "Maiden MRE") covering the Goldwedge and Manhattan Pit areas of Manhattan is comprised of 18,343,000 tonnes grading 1.26 g/t gold for a total of 740,000 oz contained gold in the inferred category.²

A historical mineral resource estimate (the "Historical MRE") covers the Black Mammoth, April Fool, Hooligan, Keystone, and Jumbo areas of Manhattan and comprises 1,652,325 tonnes grading 5.89 g/t gold for a total of 303,949 oz contained gold.³ The deposit is interpreted as a low-sulfidation, epithermal, gold-rich system situated adjacent to the Tertiary-aged Manhattan caldera in the Southern Toquima Range of Nevada. A "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") has not done sufficient work to make the Historical MRE current, and the Company is not treating the Historical MRE as current.

Notes

Adjacent Properties: The Company has no interest in, or rights to, any of the adjacent properties mentioned, including the Round Mountain Gold Mine, and exploration results on adjacent properties are not necessarily indicative of mineralization on the Company's properties. Any references to exploration results on adjacent properties are provided for information only and do not imply any certainty of achieving similar results on the Company's properties.

Historical Data: This news release includes historical information that has been reviewed by the Company's qualified person. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this presentation. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.

Third-Party Mineral Projects: These deposits are cited solely for geological context. The Company cautions that these properties are not necessarily adjacent to, nor does the Company or have any interest in or control over them. Although certain geological features may be similar, there is no assurance that mineralization comparable to these deposits will be discovered on any of the Company's properties. Information regarding the aforementioned deposits is taken from publicly available sources and technical reports believed to be reliable but has not been independently verified by the Company. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.

Mineral Resource Estimate (MRE): All scientific and technical information relating to Manhattan pertaining to Maiden MRE contained in this news release is derived from the Technical Report dated April 23, 2026 (with an effective date of June 4, 2025) titled "Mineral Resource Estimate and NI 43-101 Technical Report" (the "Technical Report") prepared by Matthew R. Dumala, P.Eng (BC) of Archer Cathro Geological (US) Ltd., Patrick Loury, M.Sc., CPG (AIPG) of Daniel Kunz & Associates, Annaliese Miller, LG (WA) of Geosyntec Consultants, Inc. and Art Ibrado, PhD, PE (AZ) of Fort Lowell Consulting PPLC. The information contained herein in respect of the Maiden MRE is subject to all of the assumptions, qualifications and procedures set out in the Technical Report and reference should be made to the full text of the Technical Report, a copy of which has been filed with the applicable securities regulators and is available under the Company's profile on www.sedarplus.ca.

Historical MRE: A Qualified Person has not done sufficient work to make the Historical MRE current, and the Company is not treating the Historical MRE as current.The Company considers the Historical MRE relevant as it demonstrates the presence of significant gold mineralization across multiple zones within Manhattan; however, its reliability is uncertain because it was prepared prior to the adoption of the current CIM Definition Standards and current QA/QC practices. The Historical MRE provides limited disclosure of assumptions, parameters, estimation methods, cutoff grades, and QA/QC protocols, and therefore these cannot be fully verified by the Company. The categories used in the historical estimate predate, and are not directly comparable to, current CIM Definition Standards, and the Company is not treating the Historical MRE as a current Mineral Resource Estimate. To upgrade and verify the Historical MRE in order to make it a current Mineral Resource Estimate, the Company would be required to undertake confirmatory drilling, modern QA/QC sampling, validation and digitization of historical datasets and updated geological modeling followed by the preparation of a new Mineral Resource Estimate in accordance with CIM Definition Standards and NI 43-101. The Company encourages readers to exercise appropriate caution when evaluating the Historical MRE.

All scientific and technical information relating to Manhattan pertaining to the Historical MRE contained in this news release is derived from the Technical Report dated May 1997 titled "Exploration and Pre-Production Mine Development, Manhattan District Project, Nye County" (the "Historical Technical Report") prepared by New Concept Mining, Inc. The information contained herein in respect of the Historical MRE is subject to all the assumptions, qualifications and procedures set out in the Historical Technical Report and reference should be made to the full text of the Historical Technical Report.

References: (1) Strachan, D. G., and Master, T. D., 2005: Update and Revision of the Gold Wedge Project Development, Nye County. Report prepared for Nevada; Royal Standard Minerals, Inc. and dated March 31, 2005; (2) Dumala, M. R., and Lowry, P., 2025: Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property, Nye County, Nevada. Report prepared for Scorpio Gold Corporation and dated October 23, 2025 (with an effective date of June 4, 2025); and (3) Berry, A., and Willard, P., 1997: "Exploration and Pre-Production Mine Development, Manhattan District Project, Nye County". Report prepared for New Concept Mining, Inc. and dated May 1997.

Qualified Person

The scientific and technical information in this news release has been reviewed, verified and approved by Thomas Poitras, P. Geo., Chief Geologist of Scorpio Gold, a "Qualified Person", as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Verification included review of laboratory certificates, review of field logs and chain-of-custody records, inspection of blank/standard/duplicate performance, and review of collar and down-hole survey data. No limitations or failures to verify were identified.

About Scorpio Gold Corp.

Scorpio Gold holds a 100% interest in the Manhattan District located in the Walker Lane Trend of Nevada, USA. Scorpio Gold's Manhattan District is ~4,780-hectares and comprises the advanced exploration-stage Goldwedge Mine, with a 400 ton per day maximum capacity gravity mill, and four past-producing pits that were acquired from Kinross in 2021 (see news release dated March 25, 2021 https://scorpiogold.com/news/scorpio-gold-closes-purchase-of-kinross-manhattan-property-nye-county-nevada/). The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 140,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Connect with Scorpio Gold:
Email | Website | Facebook | LinkedIn | X | YouTube
To register for investor updates please visit: scorpiogold.com 
(TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9)

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management as of the date of this news release.

Forward-looking statements in this news release include, among others, statements relating to: the timing, scope and interpretation of assay results; potential for resource growth and discovery; the potential continuity, extent, grade and characteristics of mineralization along the Reliance Trend, Black Mammoth, Gap Zone, Zanzibar Trend and Mustang Hill; the intended follow-up exploration activities and timing thereof; the Company's exploration plans and objectives; expected future drilling programmes; anticipated timing of future disclosures and announcements; and other statements that are not historical facts. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including: that the Company will be able to obtain sufficient financing to complete planned exploration activities; that the Company will be able to obtain necessary permits and regulatory approvals in a timely manner; that exploration results will be consistent with management's expectations; that general business and economic conditions will not change in a materially adverse manner; that equipment and qualified personnel will be available when required; and that the Company's interpretations of geological data are accurate. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations, which may not be available when needed or on acceptable terms and conditions; the inherent risks involved in the exploration and development of mineral properties, including uncertainties related to the interpretation of drill results and other geological data; fluctuations in commodity prices; compliance with extensive government regulation and changes in domestic and foreign laws and regulations that could adversely affect the Company's business and results of operations; uncertainties related to obtaining necessary permits and regulatory approvals; risks related to the Company's ability to retain key personnel; environmental risks and hazards; title matters and surface rights issues; competition in the mining industry; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance; and other risks and uncertainties disclosed in the Company's public filings.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305095

Source: Scorpio Gold Corp

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us