Market Signal Briefing

World Liberty Financial (CRYPTO: WLFI) has partnered with Spacecoin to combine satellite internet with its $3.2 billion USD1 stablecoin, targeting remote communities that lack both internet access and traditional banking.

The Deal: DeFi Meets SatellitesWorld Liberty Financial executed a token swap with Spacecoin that ties the two projects together for future collaboration on payments, settlements, and financial services in areas beyond traditional network reach.

Spacecoin recently launched three satellites into low-Earth orbit and is building a decentralized physical infrastructure network called Starmesh.

The goal is to provide permissionless internet access through a growing satellite constellation, starting with remote and underserved communities.

The pitch is simple: give people in places with weak or no broadband coverage a way to get online without relying on governments or telecom monopolies.

Tae Oh, Spacecoin founder, said “true digital freedom also requires access to robust, fair and open financial services”—which is where World Liberty Financial comes in

World Liberty’s Growing Crypto EmpireWorld Liberty Financial launched its dollar-pegged stablecoin USD1 last year, which has grown to a $3.2 billion market cap.

The company also launched World Liberty Markets to offer lending and borrowing services, creating a full financial services stack built on blockchain infrastructure.

A subsidiary, World Liberty Trust Company, applied for a national charter with the U.S. Office of the Comptroller of the Currency in recent weeks, signaling plans to operate as a regulated financial institution.

The Spacecoin partnership extends that infrastructure into space, enabling people in remote regions to access both internet connectivity and financial services through the same decentralized network.

The Market OpportunityThe satellite internet market is valued at $8.09-$12.4 billion in 2025 and projected to grow at a 13.62-17% annual rate through 2034, reaching $33.4-$47.4 billion.

Low-Earth orbit constellations like SpaceX’s Starlink and Amazon’s Project Kuiper are driving that growth by addressing latency and coverage gaps in remote areas.

Meanwhile, the on-chain credit market is expanding rapidly, with DeFi lending platforms exceeding $50 billion in total value locked in Q4 2025. 

Meanwhile, on-chain lending now accounts for 66.9% of the total lending market.

The combination of satellite infrastructure and DeFi could unlock a $1 trillion+ market by 2030, according to industry projections.

Image: Shutterstock

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Canton surged 13% to $0.1491 today as the Swyftx listing expanded retail access while derivatives positioning strengthened across key metrics.

The listing on Swyftx on the 21st of January increased visibility for Canton and reinforced Canton’s institutional-grade narrative around privacy and interoperability. 

Importantly, the price response followed quickly, suggesting traders reacted with intent rather than hesitation. 

However, this rally did not occur in a broad market surge. Instead, Canton [CC] outperformed selectively. 

As a result, attention now shifts toward whether technical structure, leverage positioning, and liquidity conditions can sustain the move rather than fade it.

Cup breakout holds as momentum rebuilds Canton continues to trade within a constructive cup-and-handle continuation, with price holding firmly above the prior breakout zone near $0.118–$0.120, which now acts as a key demand base. 

Buyers have repeatedly defended this area, preventing deeper pullbacks and confirming it as structural support rather than a temporary bounce level. 

Above the current price, the $0.150–$0.160 region stands out as the immediate supply zone, where prior reactions and wick rejections emerged. 

However, price has compressed rather than rejected sharply, which suggests absorption rather than distribution. 

RSI holding above 50 reinforces this view, as momentum remains in a bullish regime despite the consolidation. 

If Canton sustains acceptance above $0.150, the cup-and-handle measured move would project a continuation target toward the $0.185–$0.190 zone, aligning with visible resistance and liquidity overhead. 

Until price loses the $0.118 support, the structure continues to favor trend continuation over breakdown.

Source: TradingView

Canton: Open Interest rises alongside bullish structure Open Interest climbed 18.55% to $27.0M, showing traders added leverage as the price strengthened. 

This increase followed the rally, not a selloff, which matters for directional bias. Often, such alignment reflects conviction rather than hedging behavior. 

Additionally, leverage expanded during consolidation within the handle, not at an extreme high. The timing reduces immediate squeeze risk. However, leverage still increases sensitivity to volatility. 

Besides, current positioning suggests traders expect continuation rather than reversal. 

As long as the price holds above key structure, Open Interest growth continues to reinforce the bullish setup instead of undermining it.

Top traders lean long with measured conviction Binance top trader data shows long accounts controlling roughly 56%, pushing the long-short ratio near 1.28. This skew highlights directional confidence without extreme imbalance. 

Importantly, longs increased gradually rather than spiking abruptly. That pattern often reflects calculated positioning rather than emotional chasing. 

Meanwhile, short exposure remains present, which preserves liquidity for directional movement. However, buyers continue to dictate momentum. 

As a result, trader positioning aligns with both price structure and Open Interest expansion. If this bias persists, shallow pullbacks would likely attract bids rather than trigger aggressive unwinding.

Liquidation clusters outline clear upside targets The liquidation heatmap reveals a strong upside skew, with dense short-side liquidity stacked between $0.150 and $0.157. 

These zones represent areas where leveraged shorts face forced exits if price advances. Canton already approached $0.150 without sharp rejection.

Instead, price consolidated, suggesting shorts remain trapped rather than cleared. 

Above that band, another visible liquidity pocket forms near $0.160, which could act as the next acceleration zone.

On the downside, liquidation density appears more fragmented below $0.140, with no comparable concentration until $0.130–$0.128. 

This imbalance reduces the probability of a deep downside sweep. Therefore, liquidity placement continues to favor upward continuation. 

If price reclaims $0.150, forced liquidations could drive a move toward $0.155–$0.160, aligning with the broader cup-and-handle projection rather than signaling exhaustion.

Can Canton extend this rally? Canton shows a coherent continuation setup driven by structure, momentum, leverage, and positioning. The Swyftx listing added visibility, yet charts and derivatives data now carry the narrative. 

If buyers continue defending the handle and momentum holds above neutral, CC could extend its rally. 

However, leverage sensitivity demands caution. Overall, current conditions favor upside continuation rather than immediate exhaustion.

Final Thoughts  Market structure favors continuation as buyers consistently defend the breakout zone against deeper pullbacks. Leverage and liquidity alignment continue to skew short-term risk toward further upside expansion.

21h05 ▪ 3 min read ▪ by Ariela R.

Summarize this article with:

At Davos, Donald Trump presented a clear vision: making the United States the global capital of digital assets. An ambition supported by a strong alliance with Ripple, a key player in the crypto sector.

In brief Donald Trump wants to make the United States the global capital of crypto thanks to favorable regulation. Ripple becomes a strategic partner of the White House with RLUSD and the CLARITY Act. Trump relies on Ripple to impose new crypto regulation During the 2026 World Economic Forum in Davos, Donald Trump surprised the crypto community. The current President of the United States claims he wants to end the war against cryptocurrencies.

According to analysts, this statement marks a strategic shift for American policy. The goal? To create a favorable ecosystem for digital innovation and repatriate exiled projects.

At Davos, the American President confirmed the creation of a national stockpile of digital assets. This will include XRP, bitcoin, as well as other seized or strategic tokens. Trump thus wants to include crypto-assets in the national reserve, rather than liquidate them. A move aimed at securing monetary sovereignty in an increasingly tokenized world!

Upstream, the discussions around the CLARITY Act are intensifying. This crypto bill should provide a clear regulatory framework for financial institutions. Brad Garlinghouse, CEO of Ripple, even praised the progress of this text. It will allow banks to adopt tokenization without fear of regulatory sanctions.

The digital dollar and Ripple, pillars of the American crypto strategy The centerpiece of this strategy remains the RLUSD, the stablecoin developed by Ripple. Garlinghouse considers it an essential weapon to maintain the dollar’s dominance.

Behind the scenes at Davos, Ripple is establishing itself as a strategic partner. Long opposed to the SEC, the blockchain giant now integrates the heart of power.

This Trump-Ripple alliance also heralds a new era for financial markets. America wants to become the global crypto hub and intends to achieve it with a concrete roadmap: stable regulation, institutional adoption, and proven technology via the XRP Ledger.

In any case, the shock from Davos reignites the global battle around crypto-assets. Eyes are now turning to Washington. It remains to be seen if other powers will follow the movement!

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Ariela R.

My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Major cryptocurrencies — Bitcoin, Ethereum, and XRP — are all in the red at the time of writing, despite posting modest gains over the past 24 hours.

Macro headwinds, such as President Trump’s tariff talk, are still very much in play. Ongoing regulatory uncertainty and ETF outflows also continue to weigh on market sentiment. Seriously, will the anxiety ever end? Probably not.

Summary

Market uncertainty and macro headwinds continue to weigh on BTC, ETH and XRP sentiment Bitcoin is currently trading around $89,763, down 0.4% over the past 24 hours but up 0.5% for the hour. ETH is hovering below the $3,000 level; holding above it could trigger a move toward $3,350. So what’s the short-term outlook for BTC, ETH, and XRP?

Bitcoin price prediction Bitcoin (BTC) is currently trading around $89,763, down 0.4% over the past 24 hours but up 0.5% for the hour. Bulls are currently trying to defend the key $90,000 support level.

If they manage to hold it, BTC could push toward $97,000–$98,000, with $100,000 and above back in play.

BTC 1-day chart, January 2026 | Source: crypto.news That said, on-chain data is sending mixed signals. CoinGlass’ NRPL metric, which tracks trader profits, has slipped slightly into negative territory after months of strong positive readings.

Adding to the jitters, crypto trader Peter Brandt expects BTC will head toward the $58K–$62K range. The culprit? A rising wedge that’s been forming for months, hinting the bulls may be losing steam.

Bottom line: BTC’s near-term outlook is mixed. Bulls are defending key levels, but bears are still in play.

Ethereum price prediction Ethereum (ETH) is hovering around $2,951, down 3.3% over the past 24 hours. During that stretch, the price swung between $2,867 and $3,084, showing just how sensitive this area is.

ETH 1-day chart, January 2026 | Source: crypto.news If ETH can manage to stay above $3,000, there’s room for a move toward the $3,020–$3,060 zone. Hold that area and print a daily close above $3,090–$3,100, and a run toward $3,350 starts to look realistic.

On the downside, a clear break below $3,000 could drag ETH price down to $2,940, then $2,880, with $2,800 coming into play if selling pressure builds.

Bottom line: ETH price is at a make-or-break point. Defending $3,000 keeps the bullish case alive, but losing it could flip momentum to the bears pretty quickly.

Ripple (XRP) is down 2% over the past 24 hours and is currently trading around $1.93. Over the past day, the price moved cleanly within a tight range between $1.88 and $1.98.

XRP 1-day chart, January 2026 | Source: crypto.news For XRP, staying above the $1.90–$2.00 zone is key, as this area tends to shape investor behavior. On-chain data shows that since mid-2025, every move above $2 has been met with noticeable selling, suggesting many traders are quick to take profits rather than chase higher prices.

A clean push into the $2.10–$2.20 range would ease downside pressure and improve the short-term outlook. Until that happens, staying below $2.05 keeps the risk of a pullback alive, with $1.90 acting as the first major support.

If that level gives way, the next downside target sits near $1.85, where buyers may try to step in and stabilize price action.

Bottom line: XRP price has momentum on its side for now, but it needs a convincing break above $2 to shift sentiment meaningfully. Without that, choppy price action and pullbacks remain very much on the table.

Bitcoin reversed its three-day losing streak, posting gains of around 2%, but continues to struggle to reclaim the $90,000 level.

CryptocurrencyTickerPriceBitcoin(CRYPTO: BTC)$89,783Ethereum(CRYPTO: ETH)$2,948Solana(CRYPTO: SOL)$127.83XRP(CRYPTO: XRP)$1.92Dogecoin(CRYPTO: DOGE)$0.1242 Shiba Inu(CRYPTO: SHIB)$0.057842Notable Statistics:

Coinglass data shows 120,717 traders were liquidated in the past 24 hours for $415.53 million.        SoSoValue data shows net outflows of $708.7 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net outflows of $297.5 million. In the past 24 hours, top gainers include The Sandbox, LayerZero and Axie Infinity. Notable Developments:

BitGo Set For Wall Street Debut Today: All About First Crypto IPO Of 2026 Ripple CEO Weighs In On Crypto Bill: ‘We’re So Close We Can’t Give Up Now’ Eric Trump’s Predicted Q4 Crypto Rally Never Happened—Could The Market Structure Bill Still Deliver It? A Tax On Unrealized Bitcoin Gains? Here’s Which Country Is Looking At That Starting 2028 Cathie Wood: Bitcoin Is Set To Rally After ‘Shallowest Four-Year Cycle Decline’ From Meme To Markets: Dogecoin’s First SEC-Approved ETF Goes Live Trader Notes: Technical analyst Kyledoops said Bitcoin remains range-bound, with strong support near $81,000 and resistance around $98,000, aligned with the short-term holder cost basis.

He noted that January's rebound ran into breakeven selling pressure, suggesting consolidation rather than the start of a new trend. For now, he described the market as balanced rather than in breakout mode.

Crypto trader Jelle said Bitcoin is trading within a channel and continues to face difficulty reclaiming $90,500.

He warned that sustained weakness raises the risk of a bearish continuation, with a break below $87,200 potentially opening the door for a move back toward the $80,000 region.

IncomeSharks pointed to crypto's roughly $3 trillion market capitalization as evidence of long-term durability.

He noted that Bitcoin was rejected on its first test of SuperTrend resistance, triggering a pullback, and said a second attempt at that level could be where a decisive breakout occurs.

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Key NotesNomura's digital arm introduces natively tokenized Cayman fund with $250k minimum for non-US accredited investors seeking Bitcoin returns.KAIO provides tokenization while Komainu custodies assets in market-neutral structure without directional leverage.Fund joins Laser Digital's range targeting institutional demand for regulated crypto yield products across global markets. Laser Digital, Nomura’s digital asset arm, has launched the Bitcoin Diversified Yield Fund SP (BDYF), an upgraded version of its 2023 Bitcoin Adoption Fund that was introduced well before the first Bitcoin ETFs. The new vehicle combines long Bitcoin  BTC $89 422 24h volatility: 0.7% Market cap: $1.79 T Vol. 24h: $41.96 B exposure with market-neutral income strategies, targeting excess returns on top of Bitcoin performance for accredited investors outside the US.

According to a press release on January 22, the fund is structured as a natively tokenized Cayman fund, with BDYF issuing tokenized shares directly at the primary fund level rather than through feeder vehicles. KAIO serves as the exclusive tokenization provider, while crypto custodian Komainu holds the fund’s assets.

Strategy: Yield on Top of BTC BDYF seeks to monetize carry-like opportunities across market-neutral arbitrage, lending markets, and options while maintaining a long-only Bitcoin core position. This approach is designed to turn passive BTC holdings into an income-generating allocation without using directional leverage.

“Recent market volatility has shown that yield-bearing, market neutral funds built on calculated DeFi strategies are the natural evolution of crypto asset management. As an early entrant to this space, the launch of Laser Digital’s upgraded Bitcoin fund allows us to maintain our position and capitalise on the next phase of DeFi, while servicing the needs of Bitcoin holders as well as existing and new institutional investors entering the market,” said Jez Mohideen, co-founder and CEO of Laser Digital.

The fund is available only to non-US professional and accredited investors with a minimum subscription of $250,000 or BTC equivalent. The product joins Laser Digital’s actively managed range alongside its Laser Digital Carry Fund (LCF) and Multi-Strategy Fund (MSF).

Laser Digital’s role inside Nomura Laser Digital was established by Nomura Holdings in 2022 as a dedicated digital asset subsidiary. The company focuses on trading, venture, and asset management. It operates from hubs in Switzerland, Dubai, Abu Dhabi, and Japan, and targets institutional participants in on‑chain finance.

Nomura Group is one of Japan’s largest financial institutions, with more than 100 domestic branches and managing over 100 trillion yen in assets and 162 trillion yen in client wealth management assets. The scale of Nomura’s global wholesale and wealth platforms gives Laser Digital access to a broad institutional client base as demand for regulated crypto yield products expands.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News

José Rafael Peña Gholam is a cryptocurrency journalist and editor with 9 years of experience in the industry. He wrote at top outlets like CriptoNoticias, BeInCrypto, and CoinDesk. Specializing in Bitcoin, blockchain, and Web3, he creates news, analysis, and educational content for global audiences in both Spanish and English.

José Rafael Peña Gholam on LinkedIn

Thu, 22/01/2026 - 20:29

Shiba Inu futures traders show rising optimism, as over 10.93 trillion SHIB was committed to the derivatives market over the last day amid the broad crypto market slowdown.

Cover image via U.Today Shiba Inu futures traders are making their way back to the market, as momentum appears to be building again after multiple days of weak market conditions.

In what appears to be a sudden flip in investor sentiment, the Shiba Inu open interest metric has returned to the bullish side, showing a mild resurgence over the last day, according to data from Coinglass.

SHIB OI up 3% as price resurgence On Thursday, January 22, the Shiba Inu open interest metric saw a decent increase of 3.85%, as futures traders appeared to be opening new positions amid resurging interest in the asset.

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With SHIB futures traders now pulling positive moves, over 10,930,000,000,000 SHIB tokens have been committed by traders in the last 24 hours.

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While the Shiba Inu open interest metric measures the total number of outstanding derivatives contracts for SHIB, a surge in the metric often reflects growing interest and demand among retail and institutional investors.

With SHIB OI now decently up by nearly 4%, it appears that some Shiba Inu holders are convinced about a potential increase in the price of SHIB, and they are placing their bets in this regard.

SHIB price makes bullish comeback Following the resurgence in the Shiba Inu open interest metric, its price is back on a bullish trajectory after trading in the deep red territory over the past days.

While Shiba Inu is currently showing a mild price resurgence as investors begin to regain confidence, data from CoinMarketCap shows that the asset has surged decently by 1.77% over the last day.

Source: CoinMarketCap Amid the positive price trend, Shiba Inu is trading at $0.000007880 as of writing time. While traders are gradually regaining their bullish stance, SHIB trading volume is still showing a notable decline of about 8.47%, currently sitting at around $101.64 million.

With this mild price resurgence, Shiba Inu appears to remain on track to closing January on a positive note, as it still retains about 10% gains over the last 30 days.

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Highlighting the XRP Ledger’s (XRPL) notable efficiency, a recent 589.5 billion XRP payment was validated with a minuscule fee of just 0.000012 XRP, according to market analyst Xaif Crypto.

Source: Xaif Crypto Well, this milestone reinforces XRPL’s reputation for lightning-fast, scalable, and ultra-low-cost transactions, setting it apart in the crowded blockchain space.

This payment stood out not just for its size, but for its speed and near-zero cost. Settled almost instantly, it showcases XRPL’s lightning-fast consensus mechanism. Unlike many blockchains that slow down under heavy traffic, XRPL completes transfers in seconds, delivering a seamless experience for both users and businesses.

Remarkably, the transaction used a non-XRP token, with XRP serving only to cover the network fee, just 0.000012 XRP, a fraction of a cent. This underscores the XRP Ledger’s near-zero transaction costs, in contrast to platforms where fees can surge during peak demand. 

Therefore, this event highlights XRPL’s key advantage of moving large amounts of value quickly and cost-effectively, outperforming traditional finance and many other blockchains. It also showcases the ledger’s versatility in supporting multiple tokens while using XRP for fees, combining efficiency with security.

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Meanwhile, Ripple is exploring expanded DeFi options on the XRPL, including staking, building on a recent surge in decentralized finance activity that has exceeded expectations.

Furthermore, Mastercard partnered with Ripple, Gemini, and WebBank to explore RLUSD stablecoins on XRPL last year, a move reflecting a growing trend of traditional payment firms leveraging crypto to enhance cross-border settlements.

TLDR:

Japanese financial giant SBI Group launches a crypto “rental” service for long-term investors. Users can lock their Bitcoin and Bitcoin Cash funds to receive commissions from the platform. Tim Draper backs Bitcoin adoption, comparing its evolution to revolutionary technologies like electricity. SBI Trade, a subsidiary of the giant SBI Group, is scheduled to launch a service designed to allow its clients to generate a yield with Bitcoin and Bitcoin Cash. With this launch, the Asian financial ecosystem takes a firm step toward the integration of passive income services.

This innovation allows users to “rent” their digital assets to the platform for a specific period. In exchange for locking their coins, the exchange pays a rental commission while using those funds to power an institutional lending pool.

The new service is aimed at investors known as “holders,” who do not plan to sell their assets immediately. In this way, the Japanese giant SBI begins to deepen its incursion into dynamics typical of decentralized finance (DeFi), but within a regulated environment.

Institutional Adoption and Support from Major Investors SBI’s announcement coincides with an optimistic vision regarding the evolution of digital assets in society. Investor Tim Draper stated that the initial fear toward cryptocurrencies is a natural reaction to any technology that challenges the status quo.

Draper compared Bitcoin’s path to historical inventions such as electricity, automobiles, and the internet, which were initially rejected. According to the investor, what seems “irrational” to some today will become an essential part of daily life in the near future.

This support reinforces the value proposition of platforms that, like SBI Trade, seek to offer a yield with Bitcoin and Bitcoin Cash. Currently, Bitcoin is no longer seen solely as a speculative asset, but as “digital gold” and a store of value for Wall Street.

In summary, the possibility of obtaining benefits from asset holding underscores the maturity of the market. With the entry of institutions of SBI’s caliber, the infrastructure for managing crypto liquidity becomes more robust and attractive for global capital.

Elon Musk’s Net Worth Tops $785 Billion In Record-Setting Surge Ty Roush is a breaking news reporter based in New York City.

Jan 22, 2026, 02:08pm ESTJan 22, 2026, 02:11pm EST

ToplineElon Musk’s fortune soared Thursday, rising above $785 billion to a new record high as Tesla’s stock rose after Musk said the company’s robotaxi fleet would be “widespread” by year’s end.

Musk is closing in on the $800 billion mark as his net worth sets a new record.

Anadolu via Getty Images

Key FactsForbes’ Real-Time Billionaires List put Musk’s estimated net worth at $786.2 billion as of 2 p.m. EST, after topping $787 billion earlier Thursday afternoon.

This is a developing story.

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HomeETFs and Funds AnalysisETF Analysis

SummaryI upgrade Invesco WilderHill Clean Energy ETF to 'Buy,' citing strong momentum and compelling valuation.PBW has returned 95% over 16 months, outperforming the S&P 500 by 70 percentage points.The ETF trades just under 20x earnings with a long-term EPS growth rate of 23%, yielding a PEG below 1.Technical breakout, bullish RSI, and rising 200dma support a constructive outlook as 2026 progresses. Luis Alvarez/DigitalVision via Getty Images

Clean energy stocks are printing fresh multi-year highs after what has been a very volatile stretch regarding macroeconomic developments. I had a “Hold” rating on the Invesco WilderHill Clean Energy ETF (PBW) back in September 2024.

Shares went on to

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

SAN FRANCISCO, Jan. 22, 2026 (GLOBE NEWSWIRE) -- National shareholder rights firm Hagens Berman is notifying Ardent Health, Inc. (NYSE: ARDT) investors that a securities class action lawsuit has been filed against the company and certain of its executives following the company’s disastrous Q3 2025 financial results.

Hagens Berman is investigating the alleged claims that Ardent misled investors about its revenue recognition systems and the adequacy of its professional liability reserves. The firm urges investors who purchased Ardent securities between July 18, 2024 and November 12, 2025 and suffered substantial losses to contact the firm now.

[CLICK HERE TO SUBMIT YOUR ARDT LOSSES]

View our latest video summary of the allegations: www.youtube.com/watch?v=ucqsF9PZIEA

The ARDT Securities Class Action & Its Allegations:

The complaint alleges that for over a year Ardent assured investors that it engaged in an active monitoring process that included “detailed reviews of historical collections” and that “[o]ur collection procedures are followed until such time that management determines the account is uncollectible, at which time the account is written off.”

The complaint alleges that these- and other- statements were misleading because Ardent did not primarily rely on detailed reviews of historical collections in determining accounts receivable collectability, but instead utilized a 180-day cliff at which time an account became fully reserved.

The truth allegedly emerged on November 12, 2025, when Ardent revealed that it transitioned to a new accounting method in Q3 2025 for estimating the collectability of accounts receivable, which forced it to slash revenue by $42.6 million to account for hindsight evaluations.

During the earnings call the next day, Ardent’s CFO revealed that, in apparent contrast to earlier assurances about the hindsight analysis, the company’s collectability framework “had utilized a 180-day cliff at which time an account became fully reserved” and that its new revenue accounting system “recognizes reserves earlier in an account’s life cycle[.]”

In addition to the revenue decrease, Ardent revealed that “[t]he increase in total operating expenses as a percentage of total revenue was […] driven by an increase in professional liability reserves of $47.2 million[.]”

The market reacted swiftly to this news and sent the price of Ardent shares tumbling $4.75 (-33%) lower the next day.

“We are looking into whether Ardent knew of problems with its revenue accounting system that masked payor denials,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation of the pending alleged claims.

If you’d like more information and answers to frequently asked questions about the Ardent Health case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Ardent Health should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact: Reed Kathrein, 844-916-0895

FORT SMITH, Ark., Jan. 22, 2026 (GLOBE NEWSWIRE) -- The Endeavor Investor Group (together with its affiliates, “Endeavor” or “we”) today issued the following statement in response to the lawsuit filed by Mawson Infrastructure Group Inc. (“Mawson” or the “Company”) in the United States District Court for the District of Delaware.

"We are disappointed that the Company has chosen litigation over constructive dialogue with its shareholders," said Joshua Kilgore, principal of Endeavor. "We have made a substantial investment in Mawson based on our conviction in its long-term potential in the HPC and digital infrastructure sector. We are looking to work with management to maximize the value of Mawson for all shareholders.”

Kilgore continued. "We have acted as responsible, long-term shareholders seeking to create value. The allegations in the complaint mischaracterize the facts and our intentions. We intend to defend against these claims."

Despite this legal action, Endeavor remains committed to working constructively with Mawson to unlock shareholder value. As such, concurrent with this release, Endeavor has posted a separate release titled “A Letter to the Stockholders of Mawson Infrastructure Group Inc.”

About Endeavor Investor Group
The Endeavor Investor Group (together with its affiliates, “Endeavor”) is an investment group focused on high-performance compute and digital asset infrastructure. Endeavor is comprised of Endeavor Blockchain, LLC, Big Digital Energy LLC, PM Squared, LLC, and certain associated individuals and entities, including Joshua Kilgore, Cody Smith, and Phil Stanley.

Through its affiliates, Endeavor has invested in and operates large-scale, energy-intensive compute and digital asset infrastructure across the United States, with experience in:

Developing and financing high-density compute and digital asset facilities;Power procurement, grid interconnection, and regulatory strategy in diverse energy markets; andDesigning, building, and operating mission-critical infrastructure for digital assets and high-performance computing. Investor contact:

Investor Relations
Samir Jain
Email: [email protected]

CERTAIN INFORMATION CONCERNING ENDEAVOR

Endeavor intends to file a preliminary proxy statement and accompanying WHITE universal proxy card with the Securities and Exchange Commission (the “SEC”) to be used to solicit votes for, among other things, the election of one or more director nominees at the 2026 annual meeting of stockholders of Mawson Infrastructure Group Inc., a Delaware corporation (“Mawson” or the “Company”).

ENDEAVOR STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND ANY OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEBSITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO ENDEAVOR’S INVESTOR RELATIONS DEPARTMENT AT THE CONTACT INFORMATION SET FORTH ABOVE.

The participants in the proxy solicitation are anticipated to be Endeavor Blockchain, LLC (“Endeavor Blockchain”), PM Squared, LLC (“PM2”), Joshua Kilgore, Cody Smith, Phil Stanley, and such other persons as may be identified in the proxy statement and any other proxy materials filed by Endeavor with the SEC (collectively, the “Participants”).

As of the close of business on January 21, 2026:

- Endeavor Blockchain beneficially owned directly 1,400,000 shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”).

- PM2 beneficially owned directly 2,297 shares of Common Stock.

- Mr. Kilgore beneficially owned directly 8,000 shares of Common Stock.

- Mr. Smith beneficially owned directly 70,000 shares of Common Stock.

Through his 100% ownership of the membership interests in Endeavor Blockchain, LLC, Joshua Kilgore may be deemed to beneficially own an aggregate of 1,408,000 shares of Common Stock”. Through his 100% ownership of membership interests in PM Squared, LLC, Phil Stanley may be deemed to beneficially own an aggregate of 2,297 shares of Common Stock. Each of the Participants disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein.

In the aggregate, as of the close of business on January 21, 2026, the Participants beneficially owned 1,485,297 shares of Common Stock, representing approximately 44.9% of the outstanding shares of Common Stock of the Company (based on 3,304,639 shares outstanding as reported by the Company in its Quarterly Report on Form 10-Q filed on November 14, 2025 and its Current Report on Form 8-K filed on December 17, 2025.

Additional information regarding the Participants and their direct or indirect interests in the securities of the Company, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC by Endeavor in connection with the solicitation of proxies for the Company’s 2026 annual meeting of stockholders.

Key Takeaways MA partners with Agoda to integrate global travel inventory into its Global Redemption Suite.Banks in MA's network can offer instant point redemptions for flights and accommodations worldwide.The deal deepens value-added services using data and merchant partnerships to boost cardholder engagement. Mastercard Incorporated (MA - Free Report) is modernizing loyalty programs through its recent partnership with digital travel platform Agoda. This collaboration integrates Agoda’s global travel inventory into Mastercard’s Global Redemption Suite, allowing banks to offer cardholders instant, flexible travel rewards. This move reflects a broader industry trend toward experience-driven loyalty, where points are no longer just for discounts but for tangible and personalized experiences.

Through this partnership, banks in MA’s rewards network can integrate Agoda’s travel redemption solution into their loyalty programs, allowing cardholders to redeem points instantly for flights and accommodations worldwide. It creates a smooth, digital-first experience while helping banks increase engagement with their cardholders.

For Mastercard, the Agoda partnership goes beyond traditional rewards. It enhances value-added services by leveraging data, merchant partnerships and flexible redemption options to deepen cardholder engagement and increase usage. Agoda, meanwhile, gains access to Mastercard’s extensive global cardholder network, potentially leading to more bookings and repeat customers.

The deal could mark a shift in how loyalty programs are structured, moving toward strategic partnerships that combine financial networks with global platforms. By enabling banks to offer innovative travel rewards through an established ecosystem, MA and Agoda could provide a model for the next generation of loyalty programs — focused on integration, scalability and long-term cardholder value.

How Are Competitors Faring?Some of MA’s competitors in the value-added services space include Visa Inc. (V - Free Report) and American Express Company (AXP - Free Report) .

Visa has been expanding loyalty experiences through travel and rewards partnerships. V enables cardholders to access airport lounges and travel perks via strategic collaborations with platforms like Collinson International, while also offering digital loyalty solutions to enhance engagement and redemption flexibility.

American Express continues to focus on premium travel and lifestyle rewards through its Membership Rewards program. Cardholders benefit from flexible point redemption, access to exclusive experiences and partnerships with airlines and hotels, reinforcing AXP’s position in high-value, experience-driven loyalty.

Mastercard’s Price Performance, Valuation & EstimatesOver the past year, MA’s shares have declined 1.2% compared with the industry’s fall of 15.8%.

Image Source: Zacks Investment Research

From a valuation standpoint, MA trades at a forward price-to-earnings ratio of 27.45, above the industry average of 19.44. MA carries a Value Score of D.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Mastercard’s 2025 earnings implies 12.5% growth from the year-ago period.

Image Source: Zacks Investment Research

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

Sanofi CEO Paul Hudson discusses the impact of AI in the pharmaceutical space during an interview with CNBC at the World Economic Forum in Davos on Thursday.

Lemonade Inc. NYSE: LMND shares hit a new 52-week high of $85.29 on Jan. 21, 2026, closing the session up over 9%. The rally was driven by volume of 2.64 million shares, higher than the average, indicating strong investor interest. This upward movement follows the company's announcement of a technical collaboration with Tesla NASDAQ: TSLA to launch Lemonade Autonomous Car Insurance.

Lemonade Today

$96.20 +10.84 (+12.70%)

As of 02:35 PM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$24.31▼

$99.90Price Target$71.50

The new product introduces a pricing model that offers a 50% discount per mile driven while Tesla’s Full Self-Driving (FSD) capability is engaged. This marks a pivotal moment for the insurtech company, which has seen its stock price climb nearly 20% since the start of the year.

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The market has reacted to this news as more than just a product launch; it is being viewed as a significant validation of Lemonade’s technology-first business model. By directly linking insurance premiums to the use of autonomous driving software, Lemonade is positioning itself at the forefront of a shift in the auto industry. Investors are currently betting that this data-driven approach will allow the company to capture market share from traditional insurers while maintaining healthy profit margins.

How Real-Time Data Changes the Profit Equation The core of this new collaboration is an API integration, a software connection that allows Lemonade’s systems to talk directly to a customer's Tesla. This technology enables the insurer to distinguish between miles driven by a human and miles driven by the vehicle's autonomous software.

This distinction allows for real-time risk pricing. Traditional insurers like Allstate NYSE: ALL or Progressive NYSE: PGR rely heavily on proxies to guess how safe a driver might be. They use data points such as credit scores, age, zip codes, and marital status. In contrast, Lemonade is pricing risk based on actual behavior and technology usage. If the data proves that FSD is safer than a human driver, Lemonade can offer lower rates without sacrificing its own profit margins.

The Economic Advantage: Why This Matters Beyond the technology, this deal offers a significant financial advantage: Negative Customer Acquisition Cost (CAC). In the insurance world, acquiring a new customer is incredibly expensive.

Ending the Ad War: Legacy carriers spend billions annually on television commercials (think geckos and emus) to fight for market share. By integrating directly into the Tesla ecosystem, Lemonade can access a large pool of drivers without paying for expensive mass-media advertising. High-Value Demographics: Tesla owners historically represent a desirable demographic for insurers. They often have higher credit scores and drive newer vehicles equipped with advanced safety features. These drivers tend to file fewer claims. The Bundle Effect: Once a driver signs up for auto insurance, Lemonade can cross-sell its Home, Pet, and Life insurance products. This increases each customer's lifetime value (LTV) while keeping acquisition costs low. By targeting a specific, tech-savvy niche, Lemonade aims to bypass the costly customer-acquisition battles that plague the rest of the industry.

How Improved Margins Enabled the Tesla Pivot Two years ago, launching a risky new product with deep discounts might have unsettled investors. However, Lemonade is approaching this expansion from a position of improved financial stability. The company’s third-quarter 2025 earnings report provided the data necessary to support this aggressive strategy.

Revenue for the quarter grew 42% year-over-year to $194.5 million, showing that demand for Lemonade’s products remains strong. More importantly, the company has made significant progress in its underwriting discipline.

The most critical improvement is in the company's efficiency metrics:

Gross Loss Ratio (GLR): This metric measures the percentage of premium dollars paid out in claims. A lower number is better because it means the company keeps more money. Lemonade reported a GLR of 62% in Q3 2025, a historic low for the company. This is a massive improvement from previous years, when ratios hovered in the 70s or 80s, proving that their algorithms effectively identify and price risk. Cash Flow Positive: Perhaps the most bullish signal is the cash flow. Lemonade achieved a positive Adjusted Free Cash Flow of $18 million in the third quarter. This was the second consecutive quarter of positive cash generation. These numbers indicate that the business is becoming self-sustaining. Lemonade is no longer burning cash just to keep the lights on. This financial health gives management the freedom to invest in growth initiatives, such as the Tesla partnership, without taking on new debt or diluting shareholders by selling more stock.

Lemonade, Inc. (LMND) Price Chart for Thursday, January, 22, 2026

The Tug-of-War: Bulls, Bears, and Execution Risks The stock's recent performance reflects a fierce battle between institutional confidence and short-seller skepticism. This dynamic creates a volatile but potentially lucrative environment for investors.

On the bullish side, smart money is increasing its exposure. JPMorgan Chase recently disclosed a 5.9% passive stake in Lemonade, purchasing approximately 4.5 million shares. When a banking giant like JPMorgan NYSE: JPM acquires a significant stake in a company, it often signals to the broader market that the stock has long-term potential. Additionally, Lemonade’s founders, Daniel Schreiber and Shai Wininger, have previously purchased shares on the open market, aligning their personal financial interests with those of the shareholders.

The Short Squeeze Potential Despite the positive momentum, skepticism remains high. Approximately 20% of Lemonade’s floating shares are currently sold short.

What is Short Selling? Short sellers are traders who borrow stock and sell it, betting that the price will go down so they can repurchase it at a lower price later. The Squeeze: When a stock with high short interest receives good news (like the Tesla partnership), the price jumps. Short sellers begin losing money rapidly. To stop the bleeding, they must buy shares to close their positions. This buying pressure forces the price even higher, creating a feedback loop known as a short squeeze. Execution Risks Remain Investors must remain balanced. While the stock is rallying, the rollout is currently limited to Arizona and Oregon. Scaling this product across all 50 states requires navigating a complex web of regulatory approvals, which could slow down growth. Furthermore, the entire premise of the 50% discount relies on Tesla’s FSD being safer than human drivers. If accident rates for FSD users rise, Lemonade could face higher-than-expected claims costs, which would hurt the profit margins they have worked hard to improve.

Can AI Finally Disrupt Auto Insurance? Lemonade has successfully transitioned from a concept stock into a fundamental disruptor with improving margins and steady growth. The partnership with Tesla places significant pressure on legacy carriers to modernize their own pricing models or risk losing their safest and most profitable drivers to tech-forward competitors.

While risks regarding regulatory expansion and autonomous safety performance remain, the market’s reaction suggests that investors are waking up to the viability of AI-driven insurance. The stock’s performance in 2026 will likely depend on Lemonade’s ability to execute this rollout smoothly while maintaining the financial discipline shown in recent quarters.

Should You Invest $1,000 in Lemonade Right Now?Before you consider Lemonade, you'll want to hear this.

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HomeETFs and Funds AnalysisETF Analysis

SummaryMilitia Long/Short Equity ETF has delivered a stellar return in its first year, outperforming SPY by over 21%.ORR's long portfolio emphasizes major growth stocks, MLPs and Latin American airports, while its shorts target high-yield equity ETFs, U.S. small caps and BDCs.Despite a headline 14.19% expense ratio, costs are driven by shorting high-yield instruments that have persistently underperformed.ORR's high risk-adjusted returns, low drawdown and volatility underscore a compelling, actively managed long-short strategy, albeit with a short track record.Quantitative Risk & Value members get exclusive access to our real-world portfolio. See all our investments here » asbe/iStock via Getty Images

ORR Strategy Militia Long/Short Equity ETF (ORR) is an actively managed long-short ETF launched on 1/14/2025 with an objective of capital appreciation. ORR has a management fee of 1.30% and a total expense ratio of 14.19%. This

Analyst’s Disclosure: I/we have a beneficial long position in the shares of GOOGL, AMZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of CLS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

2026 will be a big year for both bitcoin and Strategy (MSTR), CEO and president Phong Le says. He spoke with Market Catalysts Anchor Julie Hyman about his outlook for bitcoin and why the company is banking on Stretch (STRC), its preferred equity offering.

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SummaryAtlantic Union Bankshares delivered a strong Q4, driven by the Sandy Spring acquisition and robust core performance.Revenue surged 77% year-over-year to $387.1 million, with net interest margin expanding to 3.90% and EPS beating by $0.11.Asset quality remains excellent, with net charge-offs at a record low of 0.01% and improved return metrics across the board.We maintain a buy rating on AUB, citing a growing dividend, solid margins, and continued operational strength.Looking for a helping hand in the market? Members of BAD BEAT Investing get exclusive ideas and guidance to navigate any climate. Learn More » Gary Yeowell/DigitalVision via Getty Images

We resume our Q4 regional bank coverage today with the just-reported earnings from Atlantic Union Bankshares Corporation (AUB). This was a positive report following a year in which the bank has been

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Q2: 2026-01-21 Earnings SummaryEPS of $6.81 beats by $0.32

 |

Revenue of

$2.22B

(5.73% Y/Y)

misses by $56.40M

CACI International Inc (CACI) Q2 2026 Earnings Call January 22, 2026 8:00 AM EST

Company Participants

George Price - Senior Vice President of Investor Relations
John Mengucci - President, CEO & Director
Jeffrey MacLauchlan - Executive VP, CFO, & Treasurer

Conference Call Participants

Gavin Parsons - UBS Investment Bank, Research Division
Peter Arment - Robert W. Baird & Co. Incorporated, Research Division
Colin Canfield - Cantor Fitzgerald & Co., Research Division
Christopher Barbero - JPMorgan Chase & Co, Research Division
Scott Mikus - Melius Research LLC
Tobey Sommer - Truist Securities, Inc., Research Division
Jonathan Siegmann - Stifel, Nicolaus & Company, Incorporated, Research Division
Mariana Perez Mora - BofA Securities, Research Division
John Godyn - Citigroup Inc., Research Division
Sheila Kahyaoglu - Jefferies LLC, Research Division

Presentation

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the CACI International Second Quarter Fiscal Year 2026 Earnings Conference Call. Today's call is being recorded. [Operator Instructions]

At this time I would like to turn the conference call over to George Price, Senior Vice President of Investor Relations for CACI International. Please go ahead, sir.

George Price
Senior Vice President of Investor Relations

Thanks, Rob and good morning, everyone. I'm George Price, Senior Vice President of Investor Relations for CACI International. Thanks for joining us this morning. We're providing presentation slides, so let's move to Slide 2.

There will be statements in this call that do not address historical fact and as such, constitute forward-looking statements under current law. These statements reflect our views as of today and are subject to important factors that could cause our actual results to differ materially from anticipated. Those factors are listed at the bottom of last night's press release and are described in the company's SEC filings. Our safe harbor statement is included on this exhibit and should be incorporated as part of any transcript of this

E-commerce giant Amazon is trying to gain an edge over its big-box rivals, with plans to open its largest-ever retail store on a 35-acre plot sitting in the Chicago suburbs. 

The company is aiming to build a sprawling 230,000-square-foot property in Orland Park, which could open as soon as next year following proper approvals.

Half of the store would sell a combination of groceries, general merchandise and prepared food, while the other half would be used for fulfillment of online and in-store orders.

The Amazon headquarters in the South Lake Union neighborhood of Seattle, Washington, on Oct. 28, 2025. (David Ryder/Bloomberg via Getty Images)

COSTCO BORROWS TECH UPGRADE FROM COMPETITOR TO BOOST MEMBER EXPERIENCE

The store will be separate from the fulfillment section. Customers picking up online orders and third-party delivery drivers will have separate entrances from the retail store. Online grocery orders will also be assembled in the back-of-house space, rather than workers picking out items in the same aisles as in-store shoppers, Katie Jahnke Dale, a lawyer representing Amazon, told Orland Park officials at a public meeting, according to The Wall Street Journal. 

While the company has been dominating the e-commerce space, it's still trying to capture the share of shoppers who are going in-store. According to the latest Census Bureau data, more than 80% of U.S. retail sales still occur in-store.

Half of the store would sell a combination of groceries, general merchandise and prepared food, while the other half would be used for fulfillment of online and in-store orders. (Wolf von Dewitz/Picture Alliance)

Town officials announced the proposed project in January, with Orland Park Mayor Jim Dodge saying that Amazon's interest in the area "demonstrates that Orland Park continues to be viewed as a premier destination for major commercial investment." 

COSTCO QUIETLY BOOSTS GAS REWARDS FOR BRANDED CREDIT CARD HOLDERS TO 5% CASH BACK

"When a global retailer of this scale is considering investment in Orland Park, it sends a strong signal about the vitality of our community and the strategic importance of this corridor," Dodge said.

Dodge said projects like this have the potential to generate "substantial sales tax revenue," which would directly benefit residents. 

COSTCO TO OPEN NEW WAREHOUSE UNDER AFFORDABLE HOUSING DEVELOPMENT IN SOUTH LOS ANGELES

Orland Park’s Board of Trustees voted to approve the project this week. The village is not providing any financial incentives to Amazon as part of the project, according to a news release.

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Orland Park’s Board of Trustees voted to approve the project this week. (Mike Segar/Reuters)

Amazon is reportedly in the process of applying for permits to demolish a closed restaurant on the property and start construction on the store.

Q4: 2026-01-21 Earnings SummaryEPS of $1.02 beats by $0.11

 |

Revenue of

$56.46M

(21.91% Y/Y)

beats by $3.38M

Third Coast Bancshares, Inc. (TCBX) Q4 2025 Earnings Call January 22, 2026 11:00 AM EST

Company Participants

Bart Caraway - Founder, Chairman, President & CEO
John McWhorter - Senior EVP & CFO
Audrey Duncan - Senior EVP & Chief Credit Officer

Conference Call Participants

Natalie Hairston - Dennard Lascar Associates, LLC
Wood Lay - Keefe, Bruyette, & Woods, Inc., Research Division
Michael Rose - Raymond James & Associates, Inc., Research Division
Bernard Von Gizycki - Deutsche Bank AG, Research Division
Matt Olney - Stephens Inc., Research Division
David Storms - Stonegate Capital Partners, Inc., Research Division

Presentation

Operator

Greetings, and welcome to the Third Coast Bancshares Fourth Quarter and Full Year 2025 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Natalie Hairston, Investor Relations. Thank you. You may begin.

Natalie Hairston
Dennard Lascar Associates, LLC

Thank you, operator, and good morning, everyone. We appreciate you joining us for Third Coast Bancshares conference call and webcast to review our fourth quarter and full year 2025 results. With me today is Bart Caraway, Founder, Chairman, President and Chief Executive Officer; John McWhorter, Chief Financial Officer; and Audrey Spaulding, Chief Credit Officer.

First, a few housekeeping items. There will be a replay of today's call, and it will be available by webcast on the Investors section of our website at ir.thirdcoast.bank. There will also be a telephonic replay available until January 29, and more information on how to access these replay features was included in yesterday's earnings release. Please note that information reported on this call speaks only as of today, January 22, 2026, and therefore, you are advised that time-sensitive information may no longer be accurate as of the time of any replay listening, or transcript reading.

In addition, the comments made by

Key Takeaways KNX reported Q4 EPS of 31 cents, missing estimates and declining 13.8% year over year, below guidance.KNX Q4 revenues of $1.86 million missed the Zacks Consensus Estimate and fell 0.4% year over year.KNX expects its first-quarter 2026 adjusted earnings per share to be in the range of 28-32 cents. Knight-Swift Transportation Holdings Inc.’s (KNX - Free Report)  fourth-quarter 2025 adjusted earnings of 31 cents per share missed the Zacks Consensus Estimate of 36 cents and declined 13.8% year over year. The reported figure came below the guidedrange of 34-40 cents.

Total revenues of $1.86 million missed the Zacks Consensus Estimate of $1.89 million and fell 0.4% year over year. Revenues, excluding truckload and LTL fuel surcharge, fell 0.6% year over year to $1.66 billion.

Total operating expenses (on a reported basis) grew 2.4% year over year to $1.83 billion.

KNX’s Q4 Segmental ResultsRevenues (excluding fuel surcharge and inter-segment transactions) from Truckload totaled $1.08 billion, down 2.4% year over year, owing to a 3.3% decline in loaded miles. Adjusted operating income fell 10.7% year over year, owing to the reduction in miles and the related deleveraging impact on cost per mile. The fourth-quarter adjusted operating ratio was 70 basis points higher year over year.

The Less-Than-Truckload segment generated revenues (excluding fuel surcharges) worth $298.50 million in the fourth quarter, up 7% year over year. Revenues, excluding fuel surcharge, grew 7% year over year as shipments per day rose 2.1% and revenue per hundredweight, excluding fuel surcharge, increased 5%. Adjusted operating income fell 4.8% year over year, and the adjusted operating ratio of 95.1% grew 60 basis points year over year as the sequential slowdown in market demand in the fourth quarter weighed on operating cost per shipment.

Revenues from Logistics (excluding inter-segment transactions) amounted to $159.97 million, down 4.8% year over year, owing to a 1% decline in load count and a 4.1% decrease in revenue per load. Adjusted operating income decreased 36.6% year over year to $6.69 million. The adjusted operating ratio grew 210 bps to 95.8%.

Intermodal revenues (excluding inter-segment transactions) totaled $95.66 million, down 3.4% year over year, owing to an 6% decrease in load count, partially offset by the increase in revenue per load.

Within the All Other Segments, revenues grew 17.6%, and operating loss improved 37.3% year over year, owing to growth in the warehousing and leasing businesses.

LiquidityKnight-Swift exited the fourth quarter with cash and cash equivalents of $220.42 million compared with $192.67 million at the prior-quarter end. Long-term debt (excluding current maturities) was $1.02 billion compared with $1.05 billion at the end of the prior quarter.

KNX’s GuidanceKNX expects its first-quarter 2026 adjusted earnings per share to be in the range of 28-32 cents. The Zacks Consensus Estimate of 32 cents met the higher end of the guidance.

Truckload segment revenues are expected to be down slightly, with operating margins relatively stable year over year in the first quarter. Tractor count is expected to be stable sequentially. LTL segment revenues, excluding fuel surcharge, are expected to be between 5% and 10% year over year in the first quarter, driven by shipment count growth and yield improvement.

Logistics segment revenues are expected to be down in the low single-digit percent on a year-over-year basis in the first quarter. Intermodal Segment load count is expected to be flat year over year in the first quarter. All Other Segments’ operating income, before including the $11.7 million quarterly intangible asset amortization, is anticipated to be between $22 million and $26 million in the first quarter.

Net interest expense is expected to decline modestly sequentially in the first quarter. Net cash capital expenditures for 2026 are expected to be in the range of $625 million-$675 million. Adjusted tax rate is expected to be between 25% and 26% for the first quarter and for 2026.

Currently, KNX carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Q4 Performances of Other Transportation CompaniesDelta Air Lines (DAL - Free Report) reported fourth-quarter 2025 earnings (excluding 31 cents from non-recurring items) of $1.55 per share, which beat the Zacks Consensus Estimate of $1.53. Earnings decreased 16.22% on a year-over-year basis due to high labor costs.

Revenues in the December-end quarter were $16 billion, beating the Zacks Consensus Estimate of $15.63 billion and increasing 2.9% on a year-over-year basis. Adjusted operating revenues (excluding third-party refinery sales) increased 1.2% year over year to $14.6 billion. Revenue growth was impacted by about 2 points due to the government shutdown, mainly in the domestic segment, consistent with the company's disclosure last month.

J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported fourth-quarter 2025 earnings of $1.90 per share, which surpassed the Zacks Consensus Estimate of $1.81 and improved 24.2% year over year.

Total operating revenues of $3.09 billion lagged the Zacks Consensus Estimate of $3.12 billion and were down 1.6% year over year. JBHT’s fourth-quarter revenue performance was hurt by a 2% and 4% decline in revenue per load excluding fuel surcharge revenue in Intermodal (JBI) and Truckload (JBT), respectively, a 1% decrease in average trucks in Dedicated Contract Services (DCS), and a 7% and 2% decline in load volume in Integrated Capacity Solutions (ICS) and JBI, respectively. The decrease in revenue, excluding fuel surcharge revenue, was partially offset by a 15% increase in volume in JBT, a 1% uptick in productivity, excluding fuel surcharge revenue, in DCS, and an increase in revenue per load in ICS. Total operating revenue, excluding fuel surcharge revenue, decreased 2% year over year.

United Airlines Holdings, Inc. (UAL - Free Report) reported solid fourth-quarter 2025 results wherein the company’s earnings and revenues beat the Zacks Consensus Estimate.

UAL's fourth-quarter 2025 adjusted earnings per share (excluding 9 cents from non-recurring items) of $3.10 surpassed the Zacks Consensus Estimate of $2.98 but declined 4.9% on a year-over-year basis. The reported figure lies within the guided range of $3.00-$3.50.

Operating revenues of $15.4 billion outpaced the Zacks Consensus Estimate marginally by 0.1% and increased 4.8% year over year. Passenger revenues (which accounted for 90.4% of the top line) increased 4.9% year over year to $13.9 billion. UAL flights transported 45,679 passengers in the fourth quarter, up 3% year over year. Cargo revenues fell 6% year over year to $490 million. Revenues from other sources rose 9.1% year over year to $981 million.

Key Takeaways INSP's Inspire V rollout has surpassed 75% of implanting centers as training and contracting near completion.INSP stands to benefit from favorable reimbursement changes, with physician fee increase in 2026.INSP faces short-term headwinds from GLP-1 trialing delays and higher operating expenses. Inspire Medical Systems (INSP - Free Report) appears positioned for solid growth over the next few quarters as it navigates a significant product transition. Management highlighted strong clinical traction for Inspire V, clearer reimbursement pathways, and tight cost discipline, while also flagging short-term pressures from inventory conversion, evolving GLP-1 usage and heightened competitive and operational challenges.

Shares of this Zacks Rank #3 (Hold) company have lost 23.1% over the past six months compared with the industry’s 16.2% decline. The S&P 500 Index has increased 10.5% in the same time frame.

Inspire Medical, a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea, has a market capitalization of $2.74 billion. The company projects 39.1% earnings decline for the fourth quarter of 2025. However, earnings are expected to return to growth in 2026.

Image Source: Zacks Investment Research

The company’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 164.19%.

Positive Factors Driving ProspectsExpanding Patient Funnel and Disciplined Execution: Management noted that rising GLP-1 adoption is driving more patients into sleep clinics, effectively broadening the funnel for Inspire Medical rather than cannibalizing demand. Sleep specialists are increasingly treating GLP-1 patients in parallel with CPAP, which can later translate into Inspire referrals as adherence issues arise or patients qualify under BMI criteria.

At the same time, Inspire Medical showed solid operational execution, posting earnings outperformance through margin improvement and disciplined expense management even with elevated marketing investment. Healthy cash flow, ongoing share buybacks, and more focused territory oversight further support the company’s ability to scale efficiently as procedure volumes rebound.

Strong Inspire V Clinical Performance and Adoption Momentum: The Inspire V launch is emerging as a structural growth driver. Management cited compelling clinical data, including reduced surgical times, high nightly usage and strong synchronization with patient breathing, reinforcing superior outcomes versus prior generations. With physician training nearing completion and contracting more than 90%, the adoption of Inspire V has accelerated, reaching more than 75% of implanting centers. Importantly, early evidence shows higher utilization and efficiency at converted centers, with surgeons able to perform more implants per day. This combination of better outcomes, easier implantation, and higher throughput underpins sustained volume growth.

Favorable Reimbursement Outlook Supports Economics: Reimbursement dynamics are turning increasingly favorable. CMS has finalized an 11% increase to the physician fee schedule for CPT 64568 starting January 2026, and proposed hikes to hospital outpatient and ASC reimbursement rates would further enhance site-of-care economics. Coverage already exceeds 90% of insured lives, including Medicare beneficiaries.

Collectively, these developments should help close longstanding reimbursement gaps around Inspire systems, easing adoption for hospitals. Greater reimbursement clarity enhances the value proposition of Inspire V, improves profitability at the center level, and is likely to support faster conversion and higher utilization over time.

Key ChallengesGLP-1 Trialing and Timing Uncertainty: Although management views GLP-1 therapies as complementary over the long term, near-term trialing introduces uncertainty around procedure timing. Patients may delay surgical intervention while attempting pharmacologic weight loss, potentially dampening short-term volume growth. Management’s early-2026 growth outlook reflects prudence around this dynamic. While increased clinic visits and eventual CPAP noncompliance could ultimately benefit Inspire Medical, the pace at which GLP-1 patients convert to hypoglossal nerve stimulation remains difficult to predict, creating variability in near-term demand visibility.

Margin Pressure From Elevated OpEx and Competition: Despite robust gross margins, operating leverage is still limited by higher operating expenses, led by patient marketing and launch-related spending. Operating costs continue to grow faster than revenues on a year-over-year basis, and one-time items also pressured reported profitability. Management also pointed to early signs of competitive activity, though still modest, along with ongoing pricing and site-of-care dynamics at select centers.

Going forward, maintaining margin expansion will hinge on striking the right balance between continued investment in growth and incremental efficiency improvements, particularly as revenue growth settles into a low double-digit range.

Estimate TrendInspire Medical is witnessing a stable estimate revision trend for 2025. In the past 30 days, the Zacks Consensus Estimate for earnings is pegged at $1.60 per share.

The Zacks Consensus Estimate for fourth-quarter 2025 revenues and loss per share is pegged at $269 million and 70 cents, respectively.

Stocks to ConsiderSome better-ranked stocks in the broader medical space are IDEXX Laboratories (IDXX - Free Report) , Boston Scientific (BSX - Free Report) and STERIS (STE - Free Report) . Each stock presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Estimates for IDEXX’s 2025 earnings per share (EPS) have remained constant at $12.93 in the past 30 days. Shares of the company have risen 12.6% in the past year compared with the industry’s 11.1% growth. IDXX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.1%. In the last reported quarter, it delivered an earnings surprise of 8.3%.  

Boston Scientific shares have gained 2.9% in the past year. Estimates for the company’s 2025 EPS have remained constant at $3.04 in the past 30 days. BSX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 7.4%. In the last reported quarter, it posted an earnings surprise of 5.6%.

STERIS shares have risen 9.1% in the past year. Estimates for the company’s 2025 EPS have increased by 2 cents to $10.23 in the past 30 days. STE’s earnings topped estimates in three of the trailing four quarters and matched on one occasion, delivering an average surprise of 2.6%. In the last reported quarter, it posted an earnings surprise of 2.6%.