Track market-moving stories before they get noisy

Key Takeaways Taiwan Semiconductor expects Q2 growth from AI-driven HPC demand, with results due July 16. TSM's HPC was 61% of Q1 revenues, with AI demand still exceeding available capacity.TSM reported record Q2 monthly revenues, pointing to strong demand for advanced process technologies. Taiwan Semiconductor (TSM - Free Report) or TSMC is scheduled to report its second-quarter 2026 results on July 16, before market opens. The results are expected to reflect continued strength in its High-Performance Computing (HPC) platform, driven by robust AI chip demand from hyperscalers and leading semiconductor customers.

The company's advanced process technologies, particularly the 3nm family and growing demand for advanced packaging solutions are also expected to support another quarter of solid growth. Meanwhile, the smartphone business is likely to remain healthy on seasonal demand, though AI-related HPC is expected to remain the primary growth engine.

Check out our analysis to determine whether TSM stock is worth buying ahead of its second-quarter earnings.

Q2 Expectation for HPCDuring its first-quarter 2026 announcement, TSMC provided guidance for its second-quarter revenues in the band of $39.0-$40.2 billion, implying roughly 10% sequential growth at the midpoint, supported by continued strength in leading-edge process technologies. The Zacks Consensus Estimate for second-quarter revenues is pegged at $39.63 billion. Management also projected gross margin of 65.5%-67.5% and operating margin of 56.5%-58.5%, reflecting sustained high-capacity utilization and ongoing cost-improvement initiatives despite dilution from overseas fabs.

Image Source: Zacks Investment Research

The biggest driver is expected to remain the HPC platform, which has emerged as TSMC's largest business. In the first quarter, HPC revenues climbed 20% sequentially and accounted for 61% of total revenues, far surpassing smartphones at 26%. The company attributed the momentum to robust AI-related demand, noting that the shift from generative AI toward agentic AI is increasing token consumption and computational requirements, thereby boosting demand for leading-edge silicon. The company also emphasized that cloud service providers continue to provide a strong demand outlook. With trends remaining the same, we expect HPC once again to be the top performer in the second quarter of 2026.

Importantly, TSMC indicated that AI- and HPC-related demand remains supply-constrained rather than demand-constrained. During the first-quarter announcement, the company repeatedly stated that demand for HPC AI applications continues to exceed available capacity, prompting the company to raise its 2026 capital spending outlook toward the upper end of its $52-$56 billion range. TSM also announced an expanded global 3-nanometer capacity plan, including additional capacity in Taiwan, Arizona and Japan, while continuing to convert 5-nanometer tools to support N3 production. The company said these investments are primarily intended to meet robust demand from HPC AI customers. This should get reflected through the second-quarter results.

TSMC's monthly revenue updates from April to June pointed to sustained demand for advanced process technologies, while management's second-quarter guidance called for sequential revenue growth. Particularly, the company reported strong June 2026 monthly revenues, resulting in record second-quarter revenues on a monthly-sales basis and indicating that demand for advanced process technologies remained robust. This should get reflected through in the second-quarter numbers.

Earnings Whispers for TSM StockPer our proven model, stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, have a higher chance of beating estimates, which is not the case here:

TSM’s Earnings ESP: TSMC has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

TSM’s Zacks Rank: TSMC currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

TSMC Price TargetBased on short-term price targets offered by 13 analysts, the average price target for TSMC comes to $463.92. This represents an increase of 6.87% from the last closing price.

Image Source: Zacks Investment Research

Competitive PositioningIntel (INTC - Free Report) : Intel is scheduled to report second-quarter 2026 results on July 23. Demand across its Client Computing and Data Center & AI businesses is expected to have remained supportive in the second quarter, while Intel Foundry is anticipated to benefit from a higher EUV wafer mix and continued customer engagement. However, heavy investments in leading-edge manufacturing, process technology development and global fab expansion are likely to continue to weigh on near-term profitability. The stock carries a Zacks Rank #1 with an Earnings ESP of 0.00%

Broadcom (AVGO - Free Report) : Its third-quarter fiscal 2026 results are expected to benefit from sustained demand for custom AI accelerators and AI networking products, supported by ongoing hyperscaler investments in AI infrastructure. Growth in AI semiconductor revenues is likely to remain the primary catalyst, while performance across its non-AI semiconductor and infrastructure software segments could influence the pace of overall revenue and earnings growth. The company carries a Zacks Rank #2 and has an Earnings ESP of 0.00%.

Final TakeTSMC remains well-positioned ahead of its second-quarter results, supported by resilient AI-driven HPC demand, industry-leading advanced process technologies and expectations of record quarterly revenues. While the lack of a positive ESP tempers near-term earnings beat expectations, long-term fundamentals remain compelling. Investors may consider buying the stock with a measured approach ahead of the earnings release.

COLUMBUS, Ind.--(BUSINESS WIRE)--The Board of Directors of Cummins Inc. (NYSE: CMI) approved on July 12, 2026 an increase in the company’s quarterly common stock cash dividend of 10% from 2.00 dollars per share to 2.20 dollars per share. The dividend is payable on September 3, 2026, to shareholders of record on August 21, 2026. Cummins has increased the quarterly common stock dividend to shareholders for 17 consecutive years.

About Cummins Inc.

Cummins Inc., a global power leader, is committed to powering a more prosperous world. Since 1919, we have delivered innovative solutions that move people, goods and economies forward. Our five business segments—Engine, Components, Distribution, Power Systems and Accelera™ by Cummins—offer a broad portfolio, including advanced diesel, electric and hybrid powertrains; integrated power generation systems; critical components such as aftertreatment, turbochargers, fuel systems, controls, transmissions, axles and brakes; and zero-emissions technologies like battery and electric powertrain systems. With a global footprint, deep technical expertise and an extensive service network, we deliver dependable, cutting-edge solutions tailored to our customers’ needs, supporting them through the energy transition with our Destination Zero strategy. We create value for customers, investors and employees and strengthen communities through our corporate responsibility global priorities: education, equity and environment. Headquartered in Columbus, Indiana, Cummins employs approximately 67,400 people worldwide and earned $2.8 billion on $33.7 billion in sales in 2025. Learn more at www.cummins.com.

Forward-looking disclosure statement

Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: any adverse consequences resulting from entering into agreements with the U.S. Environmental Protection Agency, California Air Resources Board, the Environmental and Natural Resources Division of the U.S. Department of Justice and the California Attorney General's Office to resolve certain regulatory civil claims regarding our emissions certification and compliance process for certain engines primarily used in pick-up truck applications in the U.S., which became final and effective in April 2024, including required additional mitigation projects, adverse reputational impacts and potential resulting legal actions; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; evolving environmental and climate change legislation and regulatory initiatives; any adverse consequences from changes in tariffs and other trade disruptions; changes in international, national and regional trade laws, regulations and policies; emissions deregulation; changes in taxation; global legal and ethical compliance costs and risks; future bans or limitations on the use of diesel-powered products; raw material, transportation and labor price fluctuations and supply shortages; aligning our capacity and production with our demand; the actions of, and income from, joint ventures and other investees that we do not directly control; large truck manufacturers' and original equipment manufacturers' customers discontinuing outsourcing their engine supply needs or experiencing financial distress, or change in control; product recalls; variability in material and commodity costs; the development of new technologies that reduce demand for our current products and services or not successfully developing new technologies and products to effectively address the energy transition; lower than expected acceptance of new or existing products or services; product liability claims; our sales mix of products; climate change, global warming, more stringent climate change regulations, accords, mitigation efforts, greenhouse gas regulations or other legislation designed to address climate change; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions, divestitures or exiting the production of certain product lines or product categories and related uncertainties of such decisions; increasing interest rates; challenging markets for talent and ability to attract, develop and retain key personnel; exposure to potential security breaches or other disruptions to our information technology environment and data security; the use of artificial intelligence in our business and in our products, services and features, and challenges with properly managing its use; political, economic and other risks from operations among, between and within numerous countries including political, economic and social uncertainty and the evolving globalization of our business; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; failure to meet sustainability expectations or standards, or achieve our sustainability goals; labor relations or work stoppages; foreign currency exchange rate changes; the performance of our pension plan assets and volatility of discount rates; the price and availability of energy; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2025 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at https://www.sec.gov or at https://www.cummins.com in the Investor Relations section of our website.

More News From Cummins Inc.

While macroeconomic and geopolitical challenges mount, the ecommerce market is growing through innovation, technology and insight, as it continues to take away slices of the total retail pie. Commerce Department numbers are proof of this trend: ecommerce sales in the first quarter of 2026 grew 9.8% over 1Q25 (2.7% sequentially), with total retail sales increasing 3.9% (1.5% sequentially). Ecommerce accounted for around 16.9% of total U.S. retail sales. A point to note here is that consumers are increasingly blending their online and offline shopping experiences, so this distinction may ultimately become irrelevant. As a corollary, it is those retailers that have the capacity to sell through both channels that will be able to compete tomorrow.

 While ecommerce continues to take share from traditional retail, the pace has moderated. Additionally, geopolitics is a major challenge for ecommerce players at the moment given the wars, tariffs and tensions between nations today that are disrupting supply chains, increasing costs and reducing efficiencies. This creates a highly competitive environment where growth comes mainly from price competition and share gains.

 Our picks Wayfair (W - Free Report) and Carvana (CVNA - Free Report) are doing precisely that. Wayfair offers a huge range of home improvement products along with nationwide infrastructure and logistics in an attractive format that allows it to record significant share gains. It has trimmed its cost structure, so its surging revenues are falling through to the bottom line. Carvana is seeing even stronger share gains, as it offers a superior online buying experience in a used-car market that is still largely brick-and-mortar.

Both companies are sensitive to interest rate movements however, therefore the latest FOMC deliberations are not supportive. We believe they will continue to grow regardless because of their unique capabilities and market positioning.

 The convenience of online shopping (particularly through mobile devices) remains the top reason for ecommerce volumes, along with the merging of physical and digital channels. Gen-Z is the biggest driver, which is, increasingly, the more relevant demographic.

Many of these buyers have grown up on the Internet and are accustomed to a high level of digitization. They are also likely to hang out on popular social media platforms, allowing themselves to be influenced by the latest trends there. This is driving an entirely different perspective on the ecommerce space, one that revolves around digital influencers and appears to be expanding with more advanced technology such as AR/VR, social commerce and generative AI.

About the Industry Internet - Commerce refers to all economic activity (B2B, B2C, C2C, DTC) through websites, mobile apps, online marketplaces. and social commerce platforms. It therefore continues to evolve as the technologies driving it advance, whether on the consumer side or the platform provider side that increasingly includes a combination of chatbots, AI and social media, as well as payments and checkout systems, digital marketing, logistics and fulfillment, cross-border trade, and customer data/analytics tools.

Differentiation comes from better technology for improved showcasing, range, easier navigation and payment, speedier delivery and returns, brand building, comparison shopping, loyalty, etc. as well as good customer service and more (and free) shipping options, which generally tip the scales in favor of larger players. 

Current Trends Driving the Internet-Commerce Industry ·Macroeconomics and geopolitics do not favor the industry right now. The macroeconomic environment is creating a more cautious and cost-sensitive backdrop for the industry, shifting it from a high-growth phase to one focused on efficiency and profitability. Elevated inflation has reduced consumers’ real purchasing power, leading to weaker discretionary spending and a greater focus on essentials, discounts and value-driven purchases. At the same time, still-high interest rates keep borrowing costs for both consumers and companies elevated, affecting both the production and consumption sides of the equation. Consumer confidence about the current labor market continues to soften and consumption is still being driven largely by inflation. As a result, there is continued pressure on conversion rates and basket sizes, while rising labor, logistics and warehousing costs continue to squeeze margins. As a result, companies are prioritizing cost control, automation and higher-margin revenue streams such as advertising and subscriptions to sustain profitability in a slower-growth environment. Geopolitics is simultaneously reshaping the industry by disrupting the global infrastructure that e-commerce depends on. Trade tensions, tariffs and regional conflicts are increasing the cost of goods and creating volatility in supply chains, leading to delays, stock shortages and higher shipping expenses. At the same time, the global trading system is becoming more fragmented, with companies shifting toward regional supply chains and “friendshoring” strategies to reduce risk, even at the cost of efficiency. Regulatory complexity is also rising.Competition is heating up. Ecommerce has raised the bar on what is an acceptable online marketplace. Today, it is one that offers low prices, fast or free shipping, hassle-free returns and a seamless omnichannel experience. Then again, because it is so easy to switch platforms, customer loyalty is hard to pin. Therefore, players increasingly find that mere online presence isn’t enough. They must strive for operational excellence, differentiated customer experiences, efficient logistics and disciplined capital allocation in order to stay in business.AI is shaping up to be one of the major enablers of ecommercebecause it transforms e-commerce from a generic marketplace into a highly customized, data-driven ecosystem that boosts both revenue growth and profitability. AI allows platforms to use customer data to optimize every step of the shopping experience. Companies like Amazon and Shopify leverage AI to deliver demand forecasting, targeted advertising, dynamic pricing and personalized product recommendations, significantly improving conversion rates and average order value. On the operational side, it helps optimize inventory and supply chains, reducing costs and enabling efficient deliveries. The latest development here is agentic commerce where LLM models like ChatGPT recommend products, compare features and complete the sale. Even if you’re unsure about what to buy, the statement of your general intention may be enough to complete a sale. As a result, customers get increasingly comfortable with the superior recommendations and personalization it offers. For example, Adobe estimates that traffic to retail sites from generative AI tools was up 693.4% year over year in the 2025 holiday season.The total retail experience between physical and digital continues to blur as most consumers blend their online and offline activities. This usually takes the forms of research online and buy in-store or buy online and pick up in-store. Physical stores are increasingly experience centers allowing the traditional touch and feel that many customers can’t do without. Some also prefer to walk out with their purchase. Therefore, a solid physical presence is undoubtedly a positive. Also, any experience that increases the speed of delivery/pickup is preferred. This may entail increased reliance on robots, self-driven delivery vehicles and drones that could ease bottlenecks and make deliveries smoother and cheaper.A leading trend is Gen-Z popularizing social commerce. Social commerce means the ability to discover, research and complete the purchase of products and experiences on a social media platform. Consumers shift from intent-based search to content-driven discovery while scrolling through short videos, influencer content or live streams on platforms like TikTok or Instagram. Zacks Industry Rank Indicates Weakness The Zacks Internet - Commerce industry is a rather large group within the broader Zacks Retail And Wholesale sector. It carries a Zacks Industry Rank of #180, which places it in the bottom 27% of 247 Zacks industries.

Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1. So the group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates negative near-term prospects.

Ecommerce being in the bottom 50% of Zacks-ranked industries is the result of its relative performance versus others. What we’re seeing in the aggregate estimate revisions for 2026 is a more or less steady decline until March this year, followed by slight recovery. The 2027 estimate follows the same general trend but the recovery is somewhat sharper.

The past year has seen the aggregate earnings estimate for 2026 shrink 6.5%, while that for 2027 dropped 1.2% from 2025 actuals. The macroeconomic uncertainty, adverse geopolitics, the cautious tone around rate cuts, consumer thrift are contributing to softer spending and thus weaker estimates.

Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.

Industry Returns Have Been Moderate Over the past year, the Zacks Electronic - Commerce Industry has traded relatively close to the broader Retail and Wholesale sector although the S&P 500 pulled ahead in November.  

The stocks in this industry have collectively gained 1.9% over the past year, compared to the 2.4% gain for the broader Zacks Retail and Wholesale Sector and the 24.2% gain for the S&P 500.

One-Year Price Performance

Image Source: Zacks Investment Research

Industry Somewhat Undervalued Over the past year, the industry has mostly traded at a premium to the S&P 500 and a discount to the broader industry. Its current price-to-forward 12 months’ earnings (P/E) of 21.85X represents a premium of 2.9% to the S&P 500’s 21.24X, a 5.1% discount to the broader retail sector’s 22.97X and a 10.3% discount to its median value of 24.37X. The shares have traded in the range of 21.12X to 26.11X over the past year.

Forward 12 Month Price-to-Earnings (P/E) Ratio

Image Source: Zacks Investment Research

2 Stocks to Add to Your Portfolio There is a significant variety of stocks in this industry in terms of lines of business, business model, location and so forth. This is also the reason that choosing stocks especially in the current environment can be tricky. We have used our proprietary ranking system to pick 2 stocks that appear attractive today.

Wayfair Inc. (W - Free Report) : Boston, MA-based Wayfair is an online retailer of a broad range of home improvement products across the furniture, décor, lighting, kitchenware, home improvement and outdoor categories. It has a large supplier network and proprietary logistics infrastructure supporting deliveries across the U.S.

Wayfair’s greatest strength is in the scale of its offerings (over 40 million products from more than 20,000 suppliers), which along with its investments in its logistics network and technology platform, enables it to deliver exceptional customer service and record share gains. Internally, the goal is to maximize EBITDA dollars while using excess cash to manage debt and buy back shares. The first-quarter EBITDA margin of 5.2% was the best in five years, so the plan appears to be on track.

A series of restructuring actions over the last few years has driven this improvement. During the pandemic the company had expanded operations, taking in extra hands to deal with the surging traffic. Between Aug 2022 and Mar 2025, it cut back over 5000 positions net of relocations, flattening the organizational structure to speed up decision making and reduce cost. AI adoption helped eliminate over 300 positions. It also exited German operations citing better prospects in the U.S., Canada, UK and Ireland. The result was a concentration of resources on initiatives that were likely to yield the highest returns.

With a leaner operating structure and stronger revenue growth outlook, Wayfair looks poised for continued growth. Recent results were mainly driven by share gains as the housing market to which it is tied remains sluggish. While it appears that interest rates will not come down further any time soon, this would be an additional catalyst, as it would bring mortgage rates down and large-scale home buying would return.

Analysts are clearly optimistic about Wayfair. The company certainly has a great track record of beating estimates, posting positive surprises in three of the last four quarters, at an average rate of 56.7%. For 2026, analysts expect 5.6% revenue growth and 11.9% earnings growth. For 2027, revenue and earnings growth are expected to be a respective 5.9% and 29.6%. In the last 30 days, analyst estimates for 2026 and 2027 have increased 12 cents (4.3%) and a penny (less than a percentage point).

The shares of this Zacks Rank #1 (Strong Buy) company’s shares are up 59.6% over the past year.

Price & Consensus: W

Image Source: Zacks Investment Research

Carvana Co. (CVNA - Free Report) : Tempe, AZ-based Carvana, through its website and mobile app, is America’s leading online marketplace for used cars. The entire transaction, from browsing inventory, financing, and purchasing vehicle protection products and insurance, is completed online with options for home delivery or pick up at a car vending machine. Following the acquisition of ADESA’s U.S. auction business, it also operates a nationwide logistics network, as well as vehicle auction, inspection and reconditioning facilities.

Carvana reported very strong quarterly results wherein unit volumes grew 40% (the sixth straight quarter of 40%+ growth) as the company continued to take share in a market that was essentially flat in the last quarter. The focus on its vertically integrated operating model and use of technology to improve customer experience helped it take share. While wholesale prices increased rapidly during the quarter, there was the typical lag in passing these on at retail, which compressed wholesale-to-retail spreads, hurting margins.

The company also stands to benefit from any improvement in the interest rate. Lower interest rates would bring more buyers into the market, and many replacement buyers would be likely to trade in their vehicles, adding to the used-car supply. Additionally, the used vehicle market in the U.S. is much larger than the new vehicle market, as used cars are much cheaper. As a result, affordability considerations are likely to drive a substantial portion of replacement demand toward used vehicles.

New vehicle production has largely recovered from the pandemic era disruption and new vehicle sales are expected to remain steady going forward. This, together with continued improvement in trade-in activity, should gradually replenish the supply of late-model used vehicles and create a healthier marketplace for both buyers and sellers.

Analysts are optimistic about double-digit revenue growth both this year and the next although the earnings growth rate is expected to decline a bit this year. Of course, actual growth rates may end up higher. Carvana certainly has a good track record of beating estimates: beating estimates in three of the last four quarters at an average rate of 71.6%.

For 2026, analysts expect 38.5% revenue growth and -6.5% earnings growth. For 2027, revenue and earnings growth are expected to be a respective 25.7% and 34.5%. In the last 60 days, analyst estimates for 2026 and 2027 have increased 5 cents (3.3%) and 4 cents (1.9%), respectively.

The shares of this Zacks Rank #2 company are down 5.2% over the past year.

Price & Consensus: CVNA

Image Source: Zacks Investment Research

The Thomson Reuters logo is displayed on the company's building in Times Square, New York City, U.S., August 6, 2025. REUTERS/Jeenah Moon Purchase Licensing Rights, opens new tab

CompaniesJuly 13 (Reuters) - Thomson Reuters (TRI.TO), opens new tab on Monday said it is cutting "a small number of roles" in engineering, as the Canadian content and technology ​company aggressively deploys artificial intelligence across its businesses.

The layoffs ‌affect the global staff and were announced during a technology staff meeting earlier in the day, an employee who attended the meeting said. The ​employee requested anonymity as the meeting was not public.

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Thomson ​Reuters plans to eliminate up to 500 jobs, according to ⁠the employee. That accounts for about 1.8% of its overall ​workforce of about 27,100, according to Reuters calculations based on the ​company's 2025 annual report.

The layoffs account for about 5.2% of the 9,400 employees in the company's operations and technology unit.

The cuts are the latest in ​a wave of job reductions across the technology sector, which ​has been buffeted by artificial intelligence tools that have made writing computer code ‌more ⁠efficient and have made software engineers the first to feel the economic impact of the new technology.

Overall, about 120,000 tech workers have lost their jobs across 228 companies including at tech giants ​Meta (META.O), opens new tab and Amazon (AMZN.O), opens new tab ​in 2026, ⁠according to jobs tracker layoffs.fyi.

"As customer expectations across legal, tax, and regulatory workflows evolve, we are ​focusing our capacity where it matters most to customers," ​a ⁠Thomson Reuters spokesperson said.

"We are supporting affected colleagues through the transition. At the same time, we expect to hire more than 250 ⁠net-new engineering ​roles globally over the next two ​years, the large majority senior and AI-native," the spokesperson added.

Thomson Reuters is the parent ​company of Reuters News.

Reporting by Reuters staff; Editing by Daniel Wallis

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

Energy Transfer (ET +2.62%) is one of the largest midstream energy companies in the United States, with more than 140,000 miles of pipeline for transporting crude oil, natural gas, liquefied natural gas (LNG), natural gas liquids (NGLs), and other refined products.

The company recently upgraded its 2026 growth capital expenditure (capex) guidance to $5.5 billion to $5.9 billion, up from an initial estimate of $5 billion to $5.5 billion, demonstrating its shift to a cycle of growth.

For income and growth investors, this elevated spending level carries several critical implications.

Image source: Getty Images.

The build-out is connected to a backlog This isn't speculative "build-it-and-they-will-come" spending. Management has stated these projects are underpinned by long-term, fee-based volume commitments targeting mid-teens returns. A substantial portion of this capital is flowing toward meeting the massive demand for natural gas-fired electricity generation to support artificial intelligence (AI) data centers.

Today's Change

(

2.62

%) $

0.52

Current Price

$

20.18

The company has announced three major gas pipeline projects this year, in addition to three pipeline laterals designed as direct connections to end users, so it already has waiting customers for its projects.

Key drivers for these projects include the gas-to-electricity trend, especially for fueling data centers, and growth in natural gas liquids exports. For example, Energy Transfer's Texas network will supply natural gas to the Nexus Hubbard Campus in central Texas, fueling the on-site generation that powers their new AI hyperscale facility.

Energy Transfer's aggressive capital spending is being driven by a combination of generational shifts in power demand, regional production gluts, and a deliberate decision to pivot away from high-risk megaprojects toward immediately accretive infrastructure.

Its dividend is safe, even with expansion plans In past cycles, a heavy capex budget might have raised red flags regarding the safety of the partnership's distribution. However, Energy Transfer's financial footing is solid. The company raised its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to between $18.2 billion and $18.6 billion, meaning the company has immense cash flow.

In the first quarter, Energy Transfer reported revenue of $27.7 billion, up 32% year over year. Adjusted EBITDA was $4.94 billion, up 20.5% over the first quarter of 2025, and distributable cash flow (DCF) was $2.7 billion, up 16.8% year over year.

The company's DCF easily covers its 6.77% distribution yield, as of its current share price, and provides a heavy multibillion-dollar internal equity cushion to self-fund this growth. Dilutive equity issuance to fund this backlog is off the table.

Energy Transfer said it plans to keep raising distributions by 3% to 5% each year. It's increased its distributions for 18 consecutive quarters.

Investors may need to be patient While the projects are high-return, infrastructure takes time to build and commission. Because billions of dollars are actively tied up in construction work in progress (CWIP), they are not yet generating EBITDA.

Energy Transfer's shares have risen by more than 19% this year, but that trend may slow. The company's spending plans will likely keep the company's forward valuation multiple compressed in the near term, at just below 13 times forward earnings. The true rerating and subsequent free cash flow inflections are more likely to be a late-2027 and 2028 story once these assets go into service.

Because the company is allocating more capital to organic projects rather than aggressively buying back units or overindexing on distribution hikes, investors should expect management to stick to its conservative 3% to 5% annual distribution growth target. It strikes a clear balance: Reward unit holders today while fully capitalizing on a generational build-out of energy infrastructure.

, /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $905 billion at the end of June 2026, from $899 billion at the end of May. The increase was primarily driven by firmwide net inflows, including a large low-fee passive fixed income mandate, as markets had a largely neutral impact on AUM during the month. Net flows were positive across all three distribution channels in June, led by Retail, followed by Institutions and Private Wealth. For the quarter ended June 30, 2026, preliminary firmwide net inflows totaled $0.7 billion.

AllianceBernstein L.P. (The Operating Partnership)

Assets Under Management ($ in Billions)

At June 30, 2026

May 31,

2026

Private

Institutions

Retail

Wealth

Total

Total

Equity

Actively Managed

$

49

$

166

$

64

$

279

$

284

Passive

31

44

11

86

86

Total Equity

80

210

75

365

370

Fixed Income

Taxable

121

65

21

207

209

Tax-Exempt

1

64

34

99

97

Passive

—

18

—

18

9

Total Fixed Income

122

147

55

324

315

Alternatives/Multi-Asset
Solutions(1)

169

10

37

216

214

Total

$

371

$

367

$

167

$

905

$

899

At May 31, 2026

Total

$

371

$

362

$

166

$

899

(1) Includes certain multi-asset solutions and services not included in equity or fixed income services.

Cautions Regarding Forward-Looking Statements

Certain statements provided by management in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The most significant of these factors include, but are not limited to, the following: the performance of financial markets, the investment performance of sponsored investment products and separately-managed accounts, general economic conditions, industry trends, future acquisitions, integration of acquired companies, competitive conditions, and government regulations, including changes in tax regulations and rates and the manner in which the earnings of publicly-traded partnerships are taxed. AB cautions readers to carefully consider such factors. Further, such forward-looking statements speak only as of the date on which such statements are made; AB undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. For further information regarding these forward-looking statements and the factors that could cause actual results to differ, see "Risk Factors" and "Cautions Regarding Forward-Looking Statements" in AB's Form 10-K for the year ended December 31, 2025 or form 10-Q for the quarter ended March 31, 2026. Any or all of the forward-looking statements made in this news release, Form 10-K, Form 10-Q, other documents AB files with or furnishes to the SEC and any other public statements issued by AB, may turn out to be wrong. It is important to remember that other factors besides those listed in "Risk Factors" and "Cautions Regarding Forward-Looking Statements", and those listed above, could also adversely affect AB's financial condition, results of operations and business prospects.

About AllianceBernstein

AllianceBernstein is a leading global investment management firm that offers diversified investment services to institutional investors, individuals and private wealth clients in major world markets.

As of June 30, 2026, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 31.3% of AllianceBernstein. Including both the general partnership and limited partnership interest in AllianceBernstein Holding and AllianceBernstein, Equitable Holdings, Inc. ("EQH"), owned an approximate 68.1% economic interest in AllianceBernstein.

Additional information about AB may be found on our website, www.alliancebernstein.com. 

SOURCE AllianceBernstein

Key Takeaways Humana aims for a 3% Medicare Advantage margin by 2028 as it rebuilds long-term profitability.HUM expects about 25% individual Medicare Advantage membership growth in 2026 through disciplined execution.Humana reaffirmed at least $9.00 adjusted EPS guidance for 2026 despite Star Ratings headwinds. Humana Inc.’s (HUM - Free Report) turnaround is no longer about growing membership, it's about rebuilding profitability. The company has set a goal of achieving a 3% Medicare Advantage margin by 2028, making it one of the most important milestones for its long-term earnings recovery. The key question is whether Humana can translate that strategy into sustainable profit growth.

Unlike many managed care companies that have scaled back benefits to protect margins, Humana continues to expect approximately 25% growth in individual Medicare Advantage membership in 2026. The focus is on attracting higher-quality members through disciplined pricing, stronger product design and better retention rather than pursuing growth at any cost.

Humana is working to improve medical cost trends through tighter care management and stronger operational execution. It is also investing to rebuild its Medicare Star Ratings, a key driver of future reimbursement and profitability. Higher Star Ratings would increase quality bonus payments, strengthen its competitive position and support long-term profitability.

Despite elevated healthcare utilization and a challenging regulatory environment, Humana reaffirmed its 2026 adjusted EPS guidance of at least $9.00, reflecting confidence in its turnaround plan despite the temporary Star Ratings headwind. The near-term focus is on controlling medical costs, improving Star Ratings and turning membership growth into higher profits. Delivering on these priorities will be key to reaching the 3% Medicare Advantage margin target and supporting a sustained earnings recovery.

How Are Humana's Peers Positioned?Restoring Medicare Advantage profitability has become a key priority across the health insurance industry. UnitedHealth Group Incorporated (UNH - Free Report) and CVS Health Corporation (CVS - Free Report) are also focused on improving margins through disciplined execution.

UnitedHealth Group is emphasizing disciplined pricing, stronger care management and value-based care to improve Medicare Advantage margins. UNH is prioritizing sustainable profitability over aggressive growth, much like Humana.

CVS Health is repricing Medicare Advantage plans, refining benefits and strengthening medical cost management to improve profitability. CVS is taking a disciplined approach to rebuild margins and support long-term earnings growth.

HUM’s Price Performance, Valuation and EstimatesShares of HUM have gained 53.1% year to date, outperforming the broader industry’s 28.5% growth.

Image Source: Zacks Investment Research

From a valuation standpoint, HUM trades at a forward price-to-earnings ratio of 32.21X, up from the industry average of 18.48X. Humana carries a Value Score of B.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for HUM’s 2026 earnings implies a 47.4% deterioration year over year, followed by a 66.1% improvement next year.

Image Source: Zacks Investment Research

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

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NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Axalta Coating Systems Ltd. (NYSE: AXTA) to Akzo Nobel N.V. Under the terms of the proposed transaction, shareholders of Axalta will receive 0.6539 shares of AkzoNobel for each share of Axalta that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-axta/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

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Key Takeaways Eaton closed 6.7% below its 52-week high, supported by electrification and data center demand.Eaton expects 2026 adjusted EPS of $13.05-$13.50 and organic revenue growth of 9-11%.Eaton's 24.72% ROE tops the industry, but its 27.96X forward P/E signals a premium valuation. Shares of Eaton Corporation (ETN - Free Report) closed at $407.28, a 6.7% discount to its 52-week high of $436.74. This diversified power management company and a global technology leader in electrical components and systems is gaining from rising electrification and data center demand.

Eaton has gained 1.3% in the past three months, outperforming the industry. It has, however, lagged its sector and the Zacks S&P 500 composite in the same time frame.

ETN vs Industry, Sector, S&P 500 in 3 Months
Image Source: Zacks Investment Research

Emerson Electric Co. (EMR - Free Report) and Powell Industries (POWL - Free Report) , both industrial tech stocks, have lost 3.9% and 0.9%, respectively, in the past three months.

Should you consider adding ETN stock to your portfolio based on positive price movement only? Let’s delve deeper and find out the factors that can help investors decide whether it is a good time to add ETN stock to their portfolio.

What’s Driving Eaton?Eaton is well-positioned to benefit from several long-term growth drivers, including grid modernization, expanding data center infrastructure, industrial automation, the global energy transition, and the recovery in aerospace markets. Its growing backlog reflects healthy customer demand and the company's ability to deliver reliable, mission-critical power management solutions.

Innovation and sustainability remain central to Eaton’s long-term strategy. The company plans to invest approximately $3 billion in research and development over the next decade to develop advanced, sustainable technologies, strengthen its product portfolio, and meet evolving customer needs while reinforcing its competitive position.

Strategic acquisitions also play an important role in Eaton’s growth strategy. During the first quarter, the company completed nearly $11 billion in acquisitions, expanding its presence in high-growth, high-margin markets and enhancing its long-term earnings potential.

The rapid expansion of AI-driven data centers presents a significant growth opportunity, as these facilities require greater power capacity and energy efficiency. Eaton continues to strengthen its position across the electrical power value chain while benefiting from robust demand in data center, utility, commercial aerospace and defense markets. Its diversified business portfolio, spanning industrial, utility, commercial, residential and aerospace end markets, helps reduce dependence on any single industry.

In addition, Eaton remains focused on improving operational efficiency and expanding margins through portfolio optimization, productivity initiatives and disciplined execution of its strategic growth plans.

Encouraging Estimates for EatonEaton now expects adjusted earnings per share in the range of $13.05-$13.50 for 2026 and organic revenue growth in the range of 9-11% in 2026.

The Zacks Consensus Estimate for 2026 and 2027 revenues indicates a 15.9% and 10.3% year-over-year increase, respectively. The same for 2026 and 2027 earnings implies a 10.4% and a 17.4% year-over-year increase, respectively. The expected long-term earnings growth rate is pegged at 11.7%.

Analyst Sentiment on EatonThe Zacks Consensus Estimate for ETN’s 2026 earnings per share has witnessed no movement in the last 30 days, while the same for 2027 has moved 2 cents north in the same time.
 

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Emerson’s 2026 earnings per share has witnessed no movement in the last 30 days, while the same for 2027 has moved up 1 cent north in the same time.

The Zacks Consensus Estimate for Powell’s 2026 and 2027 earnings per share has witnessed no movement in the last 30 days.

Eaton’s Return on Equity Is Better Than the IndustryReturn on equity (“ROE”) is a financial ratio that measures how well a company uses its shareholders’ equity to generate profits. The current ROE of the company indicates that it is using shareholders’ funds more efficiently than its peers.

Eaton’s trailing 12-month return on equity is 24.72%, ahead of the industry average of 20.32%.

ETN’s Prudent Capital DeploymentEaton continues to balance growth investments with cash generation. Management expects operating cash flow of $5.0-$5.4 billion and free cash flow of $3.9-$4.3 billion in 2026, which supports continued reinvestment and shareholder returns over time.

ETN’s management has raised dividends five times in the past five years. The current annual dividend is $4.40 per share, reflecting a dividend yield of 1.1%.

Is Eaton’s Stock Expensive?Eaton’s shares are trading at a premium compared with its industry. The company’s forward 12-month price to earnings of 27.96X is higher than its industry’s 23.7X and above the median of 23.71X over the last five years.
 

Image Source: Zacks Investment Research

Eaton shares are more expensive than Emerson Electric but cheaper than Powell.

Parting Thoughts on ETNEaton continues to benefit from strong execution across its core businesses, supported by robust demand stemming from data center expansion. The company’s ongoing investments in research and development are driving innovation, strengthening its product portfolio, and enabling it to address evolving customer needs. In addition, strategic acquisitions are enhancing its technological capabilities, expanding its product offerings and increasing its exposure to high-growth markets.

Eaton’s investment outlook is supported by favorable earnings estimate revisions, healthy returns on investment, and a growing backlog that reflects sustained customer demand. However, given its premium valuation, it is better to adopt a wait-and-see approach for this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Nu Mexico received banking approval and has 30 days to complete its transition to a bank.Nu's Mexico customer base grew in Q1 2026 to 15 million from 2.1 million in early 2022. NU plans to invest $4.2 billion in Mexico through 2030 while its market share remains below 1%. Nu Holdings Ltd. (NU - Free Report) , the company behind the Nubank brand, announced that its Mexican subsidiary, Nu Mexico, has received authorization from Mexico’s National Banking and Securities Commission (“CNBV”) to begin operating as a bank. The authorization process was supervised by the CNBV, the Bank of Mexico and the Ministry of Finance. Nu Mexico has 30 days to complete the transition.

The license will make Nu Mexico the country’s largest digital bank, serving more than 15 million customers. The company adds 12,000 customers daily, operates in 98% of Mexico’s municipalities and plans to invest $4.2 billion in the country through 2030.

Nubank entered Mexico in 2019, and Nu Mexico launched its first product in 2020: a no-fee credit card with customizable financing plans. It later added the Cuenta Nu savings account, featuring Cajita Turbo and Scam Alert, alongside personal loans and secured cards designed to widen credit access and help customers build credit histories.

That broader product range is supporting a financial turning point. Nu Mexico reached break-even in the first quarter of 2026 after expanding its customer base to 15 million from 2.1 million in early 2022. Monthly Average Revenue Per Active Customer rose to $15.90 from $11.60 in the prior year, while its efficiency ratio improved by 78 percentage points to 42%.

The opportunity remains large. NU estimates Mexico’s 2025 consumer banking gross-profit pool at $43 billion, with projected five-year annual growth of about 15%, while its market share remains below 1%. NU’s first-quarter 2026 managerial revenues reached $5.32 billion, deposits totaled $42.4 billion and its credit portfolio stood at $37.2 billion.

How Are SOFI & XYZ Faring?SoFi Technologies (SOFI - Free Report) is expanding beyond consumer lending by adding small-business loans, home-equity products, AI financial tools, enterprise banking and blockchain-based services. SOFI's partnerships are also bringing more funding onto its loan platform, reducing reliance on balance-sheet lending. Three agreements announced in March 2026 covered more than $3.6 billion in personal loans.

Block (XYZ - Free Report) is widening its reach through Cash App, Square, Afterpay and bitcoin products, linking consumer payments with merchant services and credit. Its tools include installment plans for peer-to-peer transfers, contactless payments and restaurant technology. Across Cash App Borrow, Afterpay and Square Loans, XYZ has provided customers with access to more than $200 billion.

NU’s Price Performance, Valuation, and EstimatesShares of NU have declined 10.3% in the past three months, underperforming the broader industry and the S&P 500 Index.

Image Source: Zacks Investment Research

From a valuation standpoint, NU trades at a forward price-to-earnings ratio of 13.73X, well above the industry’s 11.42X. It carries a Value Score of C.

Image Source: Zacks Investment Research

NU’s estimates have declined a cent over the past month. The Zacks Consensus Estimate for full-year 2026 EPS is pegged at 83 cents.

Image Source: Zacks Investment Research

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

Key Takeaways Rigetti pairs its Fab-1 chip facility with a modular architecture aimed at scaling quantum systems.A 108-qubit C-DAC contract signals rising demand for dedicated quantum infrastructure.Shares are down 25.4% YTD, while 2026 earnings estimates imply a 71.9% year-over-year improvement. Artificial intelligence did not become a transformative technology overnight. While advances in algorithms were important, widespread adoption accelerated only after the underlying hardware ecosystem matured. Quantum computing could be entering a similar phase, with the focus gradually shifting from scientific breakthroughs to building the infrastructure needed for commercial adoption. That trend could create opportunities for companies like Rigetti Computing (RGTI - Free Report) , which is investing in manufacturing capabilities and scalable hardware architecture alongside advances in quantum performance.

Rigetti differentiates itself through its vertically integrated approach. The company owns and operates Fab-1, a dedicated quantum chip fabrication facility that provides greater control over manufacturing and product development. Its modular architecture is designed to support larger quantum systems by connecting multiple chips, potentially offering a more scalable path than relying solely on increasingly complex monolithic processors. At the same time, commercial momentum appears to be improving.

Rigetti recently secured a contract to deliver a 108-qubit quantum computer to India's Centre for Development of Advanced Computing (C-DAC), highlighting growing demand from governments and research institutions for dedicated quantum infrastructure. While the company remains in the early stages of commercialization and execution risks persist, its strategy suggests Rigetti is positioning itself not just as a quantum hardware developer but as a provider of the infrastructure that could support the industry's long-term growth.

Peers UpdatesQuantum Computing Inc. (QUBT - Free Report) , or QCi, recently completed its acquisition of NHanced Semiconductors in a deal valued at $73.1 million in cash and stock, with potential additional milestone payments of up to $72 million. The transaction expands QCi's semiconductor fabrication and advanced packaging capabilities, supporting the company's transition from research and prototyping to scalable commercial manufacturing. The acquisition also adds specialized engineering expertise, strengthening QCi's ability to develop and produce its photonic quantum technologies at scale.

IonQ (IONQ - Free Report) recently unveiled Clavis XG Multiplex, a new addition to its Clavis XG Quantum Key Distribution portfolio, designed to make quantum security even more practical and deployable across metropolitan fiber networks. The Clavis XG product line stands out for its enterprise-grade network integration, offering benefits in form factor and maintenance to configuration and management. IonQ also recently opened a new laboratory suite in Boulder, CO, to support quantum computing R&D and semiconductor chip testing facilities.

Rigetti’s Price Performance, Valuation and Estimates

Shares of RGTI have lost 25.4% in the year-to-date period compared with the industry’s decline of 4.7%.

Image Source: Zacks Investment Research

From a valuation standpoint, Rigetti trades at a price-to-book ratio of 9.42, above the industry average. RGTI carries a Value Score of F.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 71.9% improvement from the year-ago period.

Image Source: Zacks Investment Research

The company currently has a Zacks Rank #4 (Sell).

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

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Jim Cramer says a single AI product decision at Meta Platforms (NASDAQ:META | META Price Prediction) just moved the stock roughly $100 per share, and he is using it as Exhibit A for why big tech is nearly impossible to trim.

In his Sunday column, Cramer wrote that on the June 30 episode of Mad Money he argued a cloud business announcement from Meta would be “worth an easy 100 points, or $100 per share, for the stock,” back when shares closed at $563. Ten trading days later, they closed at $669.21.

That is a 14.81% move in a single week and a 17.31% move in a month on a company with a $1.7 trillion market cap. Cramer’s takeaway, published on CNBC: “By a simple stroke of a pen, Meta gives you 100 points, or almost 20%.”

The Catalyst Cramer Called The specific event was Meta signaling it would rent out excess AI compute. Zuckerberg told Bloomberg last week that “the offers that you get for using the compute are so high that it may make sense, in some cases, to rent out or consider those kind of deals instead of your own internal uses.” Meta jumped 5.97% on Friday, July 10, closing at $669.21.

The compute-monetization pivot lands on top of Meta Superintelligence Labs, the new AI research entity Zuckerberg introduced on the Q1 2026 call. He described it as a “milestone quarter” that included “the release of our first model from Meta Superintelligence Labs” and reiterated the goal of “personal superintelligence to billions of people.”

The Numbers Under the Rally Meta’s Q1 2026 report, filed with the SEC on April 29, showed revenue of $56.31 billion, up 33.08% year over year, and EPS of $10.44 against a $6.66 estimate. The advertising engine grew 33%, with ad impressions +19% and average price per ad +12%. Family daily active people reached 3.56 billion.

The catch: capex. Meta raised full-year 2026 capital expenditure guidance to $125–145 billion, up from a prior $115–135 billion range. Q1 capex alone hit $19 billion. Cramer’s argument is that the compute-rental pivot changes how investors should think about that spend, because dormant infrastructure suddenly becomes a revenue line rather than a capex sinkhole.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Meta didn't make the cut. Grab the names FREE today.

Debt Versus AI Payback The bear case Cramer is answering is leverage. Total debt has climbed from $13.87 billion at year-end 2021 to $86.77 billion at the end of Q1 2026. Capital lease obligations tied to AI data centers doubled to $28.02 billion. Debt-to-equity has moved from 0.111 to 0.356.

The offset is cash generation. Retained earnings reached $144.65 billion. Operating cash flow in Q1 was $32.23 billion. Liquid assets total $51.84 billion, and the current ratio sits at 2.35x.

Investors sorting the AI winners from the also-rans may find useful context in our 7 Stocks Powering the AI Boom (That Aren’t Chipmakers) report, which frames why hyperscalers with in-house monetization paths get valued differently than pure infrastructure plays.

What to Watch Next At 24x trailing earnings and 19x forward, Meta is not cheap on a growth-adjusted basis, but the analyst consensus target of $828.34 implies room above current levels, backed by 49 Buy and 8 Strong Buy ratings against zero Sell calls. Q2 revenue guidance is $58–61 billion.

Prediction markets are notably split on tempo. Polymarket traders assign a 64.5% probability that shares finish today lower, yet give Meta an 80.5% chance of ending 2026 with a higher valuation than OpenAI. That is the exact tension Cramer’s column captures: near-term digestion is possible, but the AI optionality is the reason he says these names are so hard to leave.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Meta didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

Tesla stock TSLA fell more than 3% on Monday as investors continued to wait for further progress in the company's artificial intelligence initiatives.

The electric-vehicle maker's stock traded at $393.56 during Monday's session.

The broader market also came under pressure after President Donald Trump announced he was reinstating what he described as a blockade on Iranian shipping through the Strait of Hormuz.

The S&P 500 fell 0.4%, while the Nasdaq Composite lost 1%. The Dow Jones Industrial Average declined 132 points, or 0.3%.

Trump said in a post on Truth Social: “We are reinstating the THE IRANIAN BLOCKADE, so named because it is only stopping Iran’s ships or customers from entering or leaving.”

Tesla investors have increasingly focused on the company's artificial intelligence strategy, particularly the rollout of its autonomous robotaxi service and the commercialization of its Optimus humanoid robot.

The company launched its robotaxi service in Austin, Texas, in June 2025. While the launch generated significant attention, the expansion has progressed gradually.

The service now operates in several cities but remains substantially smaller than Alphabet's Waymo.

Tesla has yet to begin commercial sales of Optimus, although it is preparing manufacturing capacity for the humanoid robot.

On Friday, the company released a video showing the decommissioning of the Model S and Model X production lines at its Fremont, California, facility.

According to Tesla, the process of removing tooling and infrastructure took less than 50 days, allowing the factory to prepare for Optimus production while continuing to manufacture Model 3 and Model Y vehicles.

Tesla announced in January that it would discontinue production of the Model S and Model X to repurpose manufacturing capacity for robots. Chief Executive Elon Musk has described humanoid robots as a multi-trillion-dollar opportunity.

Despite those plans, investors continue to await updates on the latest version of Optimus as competing robotics companies.

Tesla is expected to provide additional updates on Optimus when it reports second-quarter earnings on July 22.

Jefferies raised its price target on Tesla to $400 from $375 while maintaining a Hold rating, citing the company's stronger-than-expected second-quarter automotive deliveries.

Tesla reported second-quarter deliveries of 480,126 vehicles, including 467,800 Model 3 and Model Y units, exceeding the consensus estimate of around 410,000 vehicles.

Following the delivery results, Jefferies increased its second-quarter earnings before interest and taxes estimate to $1.45 billion, representing a 5.1% margin.

The firm also increased its automotive revenue forecast to $21 billion, including $250 million in zero-emission vehicle credits and $500 million in leasing revenue.

Jefferies expects total group revenue of $28.7 billion and group EBIT of $1.45 billion for the quarter.

Earlier this month, RBC Capital raised its price target on Tesla to $500 from $475, incorporating a premium tied to a potential merger with SpaceX while also updating its standalone valuation for the automaker.

Analyst Tom Narayan said the revised target reflects "a 25-30% premium to current trading levels (and a 15% premium to the stock's intrinsic value) owing to a potential SpaceX acquisition scenario based on unconfirmed media reports."

According to RBC, the most likely transaction structure would involve an all-stock acquisition in which SpaceX acquires Tesla at a 20% to 30% premium.

The firm said the rationale centers on operational collaboration, including proprietary chip manufacturing, Megapacks for data center energy requirements, and joint AI training and fleet management services.

RBC also said Tesla shareholders would likely require a premium because Musk "would control 50%+ of a combined entity, well above the ~20% stake he currently holds in Tesla."

Excluding any potential SpaceX acquisition premium, RBC valued Tesla at $435 per share.

Within that valuation, Narayan increased the firm's robotaxi segment valuation by 20%, citing a higher forecast for the global robotaxi fleet and describing the business as "currently Tesla's most robust opportunity" within a $4.2 trillion total addressable market.

Nvidia NVDA stock declined on Monday, even as fresh announcements on artificial intelligence infrastructure spending reinforced expectations of continued demand for the chipmaker's products.

Shares of Nvidia were down 3.2% at $204.12 in trading.

The decline broadly tracked weakness in the wider market, with the Nasdaq Composite falling 1.4%. However, Nvidia outperformed the broader semiconductor sector, as the PHLX Semiconductor Index fell 4.8%.

Despite Monday's move, Nvidia has significantly lagged the broader chip sector this year.

Through Friday's close, the PHLX Semiconductor Index had gained 75%, while Nvidia shares were up just 12%.

The latest AI infrastructure announcement came from Meta Platforms, which said on Monday it would increase spending on its Louisiana data center to more than $50 billion.

Meta, alongside SpaceX, is one of Nvidia's major customers and uses the company's hardware to train its latest artificial intelligence models.

John Belton, portfolio manager at Gabelli Funds, said in a Barron's report continued competition among AI model developers could benefit Nvidia.

“Fragmentation in the LLM [large language model] space is a good thing for Nvidia. While they still have an opportunity to grow share with [Claude developer] Anthropic, it isn’t necessarily a great thing for Nvidia longer term if the model-as-a-service space starts to look like a winner take all market.”

Wall Street also remains broadly optimistic on Nvidia despite the stock's relative underperformance.

According to FactSet, the company now trades at a forward price-to-earnings ratio of less than 20 times, while the average analyst price target stands at $313.39.

Mizuho Securities analyst Vijay Rakesh reiterated an Outperform rating and a $300 price target on Saturday, arguing that Nvidia would benefit from an expected $1.2 trillion in data center capital expenditures next year.

Tech strategist Dan Ives also expressed confidence in Nvidia during an interview with CNBC, dismissing the recent weakness in the stock.

According to Ives, investors have recently shifted their attention toward memory stocks, creating what he described as the "shiny new toy" effect.

“You’ve seen so many of these names, when the ones that are actually at the center, whether it’s the hyperscalers or Nvidia… those are actually the ones, to some extent, almost in the penalty box.”

Valuation, earnings and supply remain key focusIves argued that there is a disconnect between market performance and the companies driving AI development.

“The reality is, there’s one chip in the world fueling the AI revolution, that’s by the godfather of AI the revolution, Jensen of Nvidia.”

According to Koyfin data, Nvidia's forward price-to-earnings ratio has recovered to around 21.2 after falling to 19.6 last week, levels last seen in January 2019.

Ives also pointed to the importance of the upcoming earnings season in assessing AI monetization.

“When you look at memory, where is memory with Nvidia? Where's memory without hyperscalers? This all plays into what's going to be a crucial earnings season in Q2 for monetization.”

He added that demand for AI chips continues to exceed available supply.

“I continue to see chip demand far outstripping supply,” estimating the demand-to-supply ratio at “15-to-1.”

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Visa (NYSE:V | V Price Prediction) stands as a nearly $700 billion payments giant poised for continued long-term growth. The company’s payments network touched 69.4 billion processed transactions in the quarter, yet it also sits on top of three earlier quarterly provisions of $899 million, $615 million, and $992 million. The disruption story at Visa is showing up quarter after quarter, in cash. This past quarter alone, Visa booked a $707 million litigation provision, which has some investors concerned.

But should they be?

What It Means Visa is still a cash machine. Fiscal Q1 2026 net revenue came in at $10.90 billion, up 14.6% year over year, with non GAAP EPS of $3.17 beating the $3.1423 estimate. Net income came in at $5.853 billion, and cross border volume excluding intra Europe rose 11%, while data processing revenue climbed 17% to $5.544 billion.

The pressure sits beneath that. Full year FY2025 revenue rose 11.34% to $40 billion, but net income advanced only 1.6% to $20.058 billion. That is margin compression at a company built on operating leverage. In Q1 FY26, non GAAP operating expenses grew 16%, faster than net revenue. The $707 million interchange provision explains part of the gap. The rest is spending to defend a network under attack from stablecoins, real time rails, domestic wallets, and agentic commerce.

Market Reaction Shares of Visa stock closed at $326.37 the day of the Q1 FY26 filing and traded at $362.13 on July 2, 2026. Year to date, Visa is up 3.68% against the S&P 500 tracker SPY at 9.22%. Over one year, Visa returned 3.04% versus 20.04% for SPY. The stock is trailing the index it usually rides.

Bear Case The bear case centers on a widening gap between top line growth and bottom line growth, and the reasons that gap is opening.

First, litigation is a recurring line item. Four consecutive quarters of interchange MDL provisions of $992 million, $615 million, $899 million, and $707 million point to a settlement structure that keeps taking bites out of the company’s  GAAP earnings. Merchant challenges to interchange are one of the risks Visa flags directly in its filings, alongside complex and evolving global payments regulations, government imposed restrictions on international payments systems, and continued push to lower acceptance costs.

Second, competition is arriving on multiple fronts at once. CEO Ryan McInerney told analysts that “there will be more competition in Europe and globally, including domestic digital wallets and initiatives like Wero and a potential digital euro.” Stablecoin card programs are growing, with volume up nearly 200% year over year in Q2. Visa is positioning as a bridge layer, but bridge economics are not the same as toll booth economics.

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Third, the market is charging Visa a full price for a slowing story. The company’s trailing PE ratio sits at 31, its forward PE is 23, and its price to sales sits at 15.52. Reddit chatter has already zeroed in on the valuation question, with a recurring thread noting Visa and Mastercard “both trading at 28x PE TTM” and sentiment cooling from bullish scores of 62 to 72 in mid June to neutral 50 to 58 by late June.

Fourth, capital return is doing heavy lifting. Visa repurchased roughly 11 million shares at an average price of $342.13 in Q1 FY26, spending $3.8 billion, with $21.1 billion remaining on the authorization as of December 31, 2025. Buybacks flatter EPS – they do not answer whether the interchange model survives the next decade intact.

Bottom Line For long term holders, the question is whether Visa’s payments empire is compounding at the pace the multiple implies. FY2025 said no, as revenue grew 11.34% and net income grew 1.6%.

Now, the company’s Q1 FY26 results suggest Visa’s revenue engine still works, and the litigation and expense drags still bite. Analysts remain constructive with an average target of $398.7, but the stock is lagging the S&P by a wide margin year to date.

The next quarterly filing will show whether the interchange MDL provisions keep landing, and whether Visa’s Value Added Services and stablecoin bridge revenue can outrun the erosion in its core. Until then, the $707 million line item is the one worth watching.

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Welltower Today

$234.28 +2.69 (+1.16%)

As of 02:46 PM Eastern

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

52-Week Range$155.33▼

$239.10Dividend Yield1.26%

P/E Ratio115.97

Price Target$234.72

The aging of America has made healthcare stocks an evergreen investment theme. It's also a reason for investors to consider looking at real estate investment trusts (REITs) focused on this area. REITs are commonly seen as vehicles for income-oriented investors.

Welltower Inc. NYSE: WELL is a great example. This is the world’s leading residential wellness and healthcare infrastructure company. 

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The company has a portfolio of over 2,500 senior and wellness housing communities spanning the United States, the United Kingdom, and Canada. 

As of July 13, Welltower had a market cap of over $165 billion, over $100 billion larger than its closest rival, Ventas Inc. NYSE: VTR.

Senior Housing Demand Is Creating a Powerful Growth TailwindSince being interrupted in 2020 by a global pandemic, demand for senior housing has been surging, making REITs in this sector a solid choice for both growth and income.

WELL is up over 160% in the last five years and has delivered a total return (which includes its dividend) of over 230% in the last three years. There’s likely to be more growth ahead. The percentage of the population aged 80+ is expected to accelerate by a compound annual growth rate (CAGR) of 5.4% between 2026 and 2030. That's up from the 1.8% CAGR between 2010 and 2025.

Welltower Inc. (WELL) Price Chart for Monday, July, 13, 2026

This is the shift that patient investors have been waiting on for over a decade. However, with the company having shown such strong growth, it’s fair for investors to wonder if this is a time to buy or wait for a better entry point.

Breaking Down the Numbers Behind Welltower StockIn terms of valuation metrics, REITs have their own language. Two terms matter most for Welltower: net operating income (NOI) and normalized funds from operations (NFFO).

Net Operating Income (NOI) measures how the buildings themselves are performing. Think of it as rent collected minus the cost of running the property (i.e., staff, utilities, maintenance, food service). It excludes corporate overhead, interest payments, and taxes. NOI answers a simple question: Is this real estate portfolio actually making money before any financial engineering happens on top of it?

Welltower's same-store NOI (a comparison using only properties owned during both periods, so acquisitions don't distort the picture) grew 16.4% year-over-year in the first quarter of 2026. The senior housing segment alone grew 22.1%. This marked the 14th straight quarter of 20%-plus growth for that segment.

Normalized funds from operations (NFFO) is the REIT industry's substitute for "earnings per share." Regular net income assumes buildings lose value every year through depreciation, the same way a company would write down aging factory equipment.

But real estate often holds or gains value over time. NFFO adds depreciation back into net income, then strips out one-time items like gains from property sales, so investors can get a fair comparison from quarter to quarter.

Welltower reported NFFO of $1.47 per share in the first quarter, up 23% year-over-year. That's the growth rate management uses to justify the stock's premium. Full-year guidance was also raised, with the midpoint moving to $6.28 per share from $6.17.

REIT investors price the stock against NFFO instead. On that basis, Welltower trades closer to 30-40 times forward earnings, depending on where the stock sits. That's still a premium to healthcare REIT peers in the mid-teens to low-20s. Which means that investors have to be counting on enough growth to justify that premium.

How Housing Trends Could Affect Welltower StockWelltower's bet is that the 80-plus population boom starting later this decade will fill its buildings faster than new supply can be built. But that story assumes seniors will actually move into senior housing when the time comes. Research on aging in America suggests that's a more complicated transition than the demographic charts imply.

A Harvard Joint Center for Housing Studies analysis found that most seniors want to age in place, and that the U.S. faces an acute shortage of housing options that let them do it, whether that means staying in an existing home or moving to something smaller within their own community.

That distinction matters. "Aging in place" doesn't automatically mean senior housing—often it means retrofitting a current home or downsizing nearby, not relocating into a managed community.

AARP's 2024 national survey backs this up with numbers: 75% of adults 50 and older want to stay in their current homes as they age, and 73% want to stay in their communities specifically. Cost is the biggest obstacle. Nearly half of respondents expect to move eventually for financial reasons, driven primarily by rising mortgage or rent payments, maintenance costs, and property taxes.

Higher Mortgage Rates Are Slowing Senior Housing MovesMillions of older homeowners are sitting on mortgage rates locked in below 4% from the pandemic-era low-rate window. Selling that home to finance a move into senior housing means giving up a historically cheap mortgage payment for market-rate financing on whatever comes next. Even if the new living arrangement itself doesn't require a mortgage, the psychological and financial "sunk cost" of an ultra-cheap rate makes staying put feel safer.

Roughly half of homeowners with mortgages are sitting on rates far enough below current market levels that moving has become financially irrational. That dynamic has kept existing home sales running near 1990s-era volumes despite full employment and rising household income. It's a market where staying put pays.

However, there are early signs that this is loosening. Real estate agents surveyed in Spring 2026 reported that mortgage rate lock-in is becoming less of a factor in sellers' decisions, with sellers increasingly listing due to life circumstances rather than timing the market. But even an aggressive round of Fed rate cuts would likely leave the rate gap for the median locked-in borrower wider than 200 basis points. 

Why Both Bulls and Bears Have a Case on WelltowerFor Welltower, this cuts two ways. The bear case: if seniors and their families delay a move because selling the family home feels like giving up cheap financing, occupancy gains could arrive more slowly than the demographic math implies.

The bull case: once a move becomes unavoidable (e.g., health decline, widowhood, a fall), the lack of affordable, accessible alternative housing pushes more of that unavoidable demand toward professionally operated senior housing rather than a DIY solution like an in-law suite or home retrofit, because those alternatives are themselves scarce and expensive to build.

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Key Takeaways M&T Bank's Q2'26 earnings are estimated to be $4.66 per share, up 8.9% year over year.Revenues are projected to be $2.48 billion, reflecting 3.4% growth from the prior-year quarter.Higher NII and decent lending activity may support results, while expenses and credit costs remain headwinds. M&T Bank Corporation (MTB - Free Report) is slated to report second-quarter 2026 results on July 15, before the opening bell. The company is expected to have registered year-over-year increases in quarterly revenues and earnings.

In the last reported quarter, the company’s results were supported by higher net interest income (NII) and non-interest income, along with modest loan growth. However, a decline in deposits, higher expenses and increased provisions for credit losses acted as headwinds.

The company has an impressive earnings surprise history. Its earnings surpassed estimates in the trailing four quarters, with an average surprise of 6.7%.

Factors to Influence M&T Bank’s Q2 ResultsLoans & NII: Per the Fed’s latest data, demand for commercial and industrial, real estate and consumer loans was decent in the second quarter of 2026. This is likely to have supported M&T Bank’s lending activity and growth in average interest-earning assets in the to-be-reported period.

The Zacks Consensus Estimate for average interest-earning assets is pegged at $194.8 billion, indicating a year-over-year rise of 1.2%.

The Federal Reserve kept interest rates unchanged in the second quarter of 2026, while noting that economic activity continued to expand at a solid pace despite elevated uncertainty and inflation remaining above its 2% target. Hence, a stable rate environment, along with decent loan demand, is expected to have supported M&T Bank’s NII growth.

The Zacks Consensus Estimate for NII (on a tax-equivalent basis) is pegged at $1.79 billion, indicating an increase of 1.8% from the year-ago reported number.

Fee Income: MTB’s average total deposits are expected to have remained relatively stable in the second quarter of 2026. This is expected to have provided some support to revenues from service charges on deposit accounts.

The Zacks Consensus Estimate for the metric is pegged at $142.3 million, indicating a 2.3% rise from the year-ago quarter’s reported figure.

In the second quarter of 2026, mortgage rates hovered in the mid-6% range, with affordability continuing to weigh on homebuying demand. While purchase activity remained subdued due to elevated borrowing costs and limited housing inventory, refinancing activity improved during the quarter. As a result, M&T Bank's mortgage banking revenues are likely to have received some support.

The Zacks Consensus Estimate for mortgage banking revenues is pegged at $129.8 million, indicating a 2.2% rise from the year-ago quarter’s reported level.

The consensus estimate for brokerage services income of $36.1 million indicates a 3% increase from that reported in the second quarter of 2025.

The Zacks Consensus Estimate for trust income of $190.3 million indicates a 4% rise from the year-ago quarter’s actual.

The Zacks Consensus Estimate for total non-interest income is pegged at $672.8 million, indicating a decline of 2.3% from the year-ago quarter's reported figure.

Expenses: Despite ongoing cost-control initiatives, the company’s expenses are expected to have remained elevated in the second quarter of 2026, reflecting continued investments in strengthening its franchise.

Asset quality: The operating environment continued to remain challenging in the second quarter of 2026, weighed down by persistent geopolitical uncertainty and elevated inflation. Additionally, the Fed’s June policy statement indicated the possibility of a rate hike, which could pressure borrowers’ repayment capacity. Against this backdrop, M&T Bank is expected to have maintained a cautious approach and built higher provisions for potential credit losses in the second quarter of 2026.

What Our Quantitative Model Predicts for MTBOur proven model predicts an earnings beat for M&T Bank this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is exactly the case here.

You can uncover the best stocks before they are reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP for M&T Bank is +0.13%.

Zacks Rank: M&T Bank currently carries a Zacks Rank of 2.

The Zacks Consensus Estimate for MTB’s second-quarter earnings has remained unchanged at $4.66 per share over the past seven days. The figure indicates an increase of nearly 8.9% from the year-ago quarter.

The consensus estimate for revenues is pegged at $2.48 billion, implying a rise of 3.4% from the year-ago reported level.

Other Stocks That Warrant a LookHere are a couple of other bank stocks that you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat this time:

The Earnings ESP for JPMorgan Chase & Co. (JPM - Free Report) is +0.49% and carries a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The company is slated to report second-quarter 2026 results on July 14, 2026. Over the past seven days, the Zacks Consensus Estimate for JPM's quarterly earnings has been revised upward to $5.55 per share.

U.S. Bancorp (USB - Free Report) is also scheduled to announce second-quarter 2026 results on July 16, 2026. The company has an Earnings ESP of +0.34% and a Zacks Rank #2 at present.

Quarterly earnings estimates for USB have been revised upward to $1.28 per share over the past week.

The agency assigned a Prescription Drug User Fee Act target action date of May 13, 2027, with the filing supported by positive Phase 3 SUCCESSOR-2 trial results.

• Bristol-Myers Squibb stock is building positive momentum. Why are BMY shares climbing?

FDA Accepts Mezigdomide ApplicationMezigdomide is an oral cereblon E3 ligase modulator (CELMoD), being developed to treat multiple myeloma.

The NDA seeks approval of the combination regimen, known as MeziKd, for patients with relapsed or refractory disease.

He noted Bristol Myers Squibb now has two separate agents under FDA review for relapsed or refractory multiple myeloma, adding that the company continues to advance its CELMoD pipeline across blood cancers and solid tumors.

Phase 3 SUCCESSOR-2 Trial ResultsThe NDA is based on data from the Phase 3 SUCCESSOR-2 study, which evaluated MeziKd against the standard regimen of carfilzomib and dexamethasone (Kd).

According to the company, the combination delivered a clinically meaningful and statistically significant improvement in progression-free survival.

Median progression-free survival reached 18.0 months compared with 8.3 months for the control arm, translating to a 52% reduction in the risk of disease progression or death (HR: 0.48).

The benefit was observed in patients with relapsed or refractory multiple myeloma, including those receiving treatment after a prior anti-CD38 monoclonal antibody and lenalidomide.

Safety Profile and Next StepsBristol Myers Squibb said the safety profile of MeziKd was consistent with findings from previous mezigdomide studies and aligned with the known safety profiles of the individual medicines included in the regimen.

The company also acknowledged the patients and investigators who participated in the Phase 3 SUCCESSOR-2 trial.

BMY Stock Price Activity: Bristol-Myers Squibb shares were up 2.29% at $58.90 at the time of publication on Monday, according to Benzinga Pro data.

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Two chip names are absorbing the capex dollars that hyperscalers are hemorrhaging: NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) and Micron Technology (NASDAQ:MU). Which one better fits a retirement-focused portfolio right now?

Bank of America projects that NVIDIA, Micron, Broadcom, and Applied Materials will generate a record $430 billion in combined free cash flow over the next 12 months, more than triple what they produced two years ago. Meanwhile the combined FCF of Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), Meta (Nasdaq: META), Microsoft (NASDAQ:MSFT), and Oracle (Nasdaq: ORCL) is projected to turn negative for the first time on record, reversing a +$260 billion peak in 2024. The cash is moving. The question is which chipmaker deserves the retirement dollar.

Growth Trajectory: Micron Has the Hotter Hand Micron’s most recent quarter shattered every expectation. Revenue hit $41.46 billion versus a $35.25 billion estimate, and diluted EPS of $25.11 crushed the $20.28 consensus. Revenue rose 345.7% year over year off a $9.30 billion base. Guidance for the next quarter calls for $50 billion, +/- $1 billion, in revenue and roughly 86% gross margin.

NVIDIA is still growing at scale most companies would envy. Q1 FY27 revenue hit $81.61 billion, up 85.2% year over year, and diluted EPS of $1.87 versus a $1.77 estimate. Impressive, but the growth rate is decelerating while Micron’s is exploding.

Valuation: Micron Looks Cheaper NVIDIA trades at a trailing P/E of 32 and a forward P/E of 24, with a PEG of 0.649. Rich for a $5 trillion market cap company, though defensible given the growth.

Micron is priced like the market does not believe the earnings will last. Trailing P/E is 22, and the forward multiple sits at just 6x with a PEG of 0.144. Analyst target price of $1,486 versus a recent $979 quote implies significant upside. On paper, this is the cheaper stock by a wide margin.

Strength and Risk: NVIDIA Wins by a Landslide This is where a retirement portfolio lives or dies. As of early 2026, NVIDIA runs a 71.07% gross margin, 60.38% operating margin, and 101.5% return on equity, with interest coverage of 503x and a debt/equity ratio of 0.073. The company’s CUDA platform software stack is a genuine moat. Jensen Huang described the setup plainly: “AI is growing faster and will be larger than any platform shifts before, including the Internet, mobile, and cloud.”

Micron’s latest gross margin is extraordinary by memory-industry standards, with fiscal Q3 gross margin above an impressive 84% and fiscal Q4 guidance near 86%. Those are elite numbers, but they are also peak-cycle numbers in a historically brutal commodity business. Memory pricing does not move in a straight line forever. The 683.4% one-year return is thrilling and terrifying in equal measure. NVIDIA’s 24.43% one-year gain looks pedestrian by comparison, but the underlying business is less cyclical and supported by a deeper software moat.

The Verdict For a retirement-focused investor, NVIDIA wins. The combination of a software moat, structurally elite margins, a fortress balance sheet, and an $80 billion buyback authorization makes it the more appropriate holding for capital that cannot afford a memory downcycle. NVIDIA is the compounder. (Investors mapping the broader AI supply chain can review our AI Power Seven report for the picks-and-shovels names positioned alongside it.)

Micron wins for a different investor: someone in accumulation mode, comfortable with cyclicality, and willing to trade volatility for one of the cheapest forward multiples in large-cap tech. If HBM4 demand holds through 2027 as Sanjay Mehrotra guided, Micron could re-rate sharply higher. If hyperscaler CapEx blinks, Micron falls first and hardest. That is a growth trade, not a retirement anchor.

NVIDIA fits the retirement account profile. Micron suits investors who can stomach the ride.

Contact [email protected] for any questions or corrections.

Key Takeaways Kroger is raising freshness standards to improve customer experience and strengthen retention.KR's first-quarter sales growth was driven by Fresh, e-commerce and Our Brands performance.KR is using item-level merchandising and serving evolving customer needs across grocery and pharmacy. The Kroger Co. (KR - Free Report) emphasized that freshness remains the most important factor influencing customers’ choice of grocery retailer. The company believes that poor quality in key categories such as produce and protein can negatively impact customer retention. As a result, it is raising its freshness standards and evaluating product quality based not only on shelf presentation but also on how products perform after customers take them home. Management views this customer-focused approach as essential to strengthening the shopping experience and maintaining customer loyalty.

Kroger also highlighted that sales growth in the first quarter of fiscal 2026 was driven by strong performance in Fresh alongside e-commerce and Our Brands. Grocery sales also increased as a proportion of the overall sales mix, reinforcing improving trends in the company’s core business. The company noted that its Fresh offering is well-suited for digital shopping, supporting continued growth in e-commerce while strengthening its grocery business.

The company is adopting an item-level merchandising approach, emphasizing that customers choose individual products rather than overall assortments. Kroger believes that every item must earn its place on the shelf by delivering quality and a positive customer experience, with this discipline applied across the entire store.

Management also believes that Kroger is well-positioned to serve customers using GLP-1 medications. These shoppers may fill prescriptions at Kroger while increasingly seeking fresh, higher-protein and Better For You foods. Kroger believes that its combined pharmacy and grocery ecosystem can help address those changing needs.

Overall, Fresh is becoming a more central component of Kroger’s customer strategy. Its effectiveness as a competitive advantage, however, will depend on the company’s ability to deliver consistently across stores and digital channels.

The Zacks Rundown for KRThe company's shares have lost 3.1% in the past six months compared with the industry’s decline of 5.3%.

Image Source: Zacks Investment Research

From a valuation standpoint, KR trades at a forward price-to-earnings ratio of 11.29, lower than the industry’s average of 33.98. KR currently carries a Zacks Rank #3 (Hold).

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for KR’s current and next fiscal year earnings implies year-over-year growth of 7.4% and 6.5%, respectively.

Image Source: Zacks Investment Research

Stocks to ConsiderSome better-ranked stocks have been discussed below:

B&G Foods, Inc. (BGS - Free Report) manufactures, sells and distributes a portfolio of shelf-stable and frozen foods and household products. BGS currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for B&G Foods’ current fiscal-year earnings implies growth of 11.8% from the year-ago actuals. BGS delivered a trailing four-quarter negative earnings surprise of 1.7%, on average.

Armanino Foods of Distinction, Inc. (AMNF - Free Report) produces and markets frozen food products in the United States. AMNF currently carries a Zacks Rank of 2.

The Zacks Consensus Estimate for Armanino Foods' current fiscal-year sales and earnings indicates growth of 7.1% and 1.7%, respectively, from the year-ago actuals. AMNF delivered a trailing four-quarter earnings surprise of 23.1%, on average.

Medifast, Inc. (MED - Free Report) operates as a health and wellness company that provides habit-based and coach-guided lifestyle solutions to address obesity and support a healthy life in the United States. MED currently carries a Zacks Rank #2.

The Zacks Consensus Estimate for MED's current fiscal-year sales and earnings implies a decline of 25.9% and 140.2%, respectively, from the year-ago actuals. MED delivered a trailing four-quarter negative earnings surprise of 635%, on average.

Halliburton (NYSE: HAL) wins major integrated well construction contracts for the GranMorgu deepwater development offshore Suriname, operated by TotalEnergies. The agreement includes drilling and completions services for a long-term program. Halliburton will deploy a fully integrated, digital and automation execution model that unites planning, engineering, and operations to improve performance, accelerate learning, and reduce total cost of ownership throughout well construction.

“This award reflects the value of integrated execution, collaboration, and digital technology in complex deepwater developments,” said Franco Delano, vice president, Caribbean, Halliburton. “The GranMorgu project demonstrates how aligned teams and advanced well construction capabilities support safe, efficient delivery and maximize asset value for our customers.”

Halliburton will apply integrated digital workflows, real time data and remote operations control for drilling and completions to improve well placement accuracy, and delivery assurance. These capabilities connect surface operations with subsurface execution to enhance recovery while lowering total cost of ownership for TotalEnergies.

The project supports local capability development through major infrastructure investment and collaboration with local suppliers. As part of the project scope, Halliburton worked with local suppliers to upgrade its liquid mud and cement plant. The company also supported the construction of Suriname’s first state-of-the-art completions and drilling workshop, featuring advanced maintenance and repair capabilities.

Halliburton will prioritize local talent acquisition and suppliers to support national economic growth. The project supports the expansion of Suriname’s offshore energy industry and establishes a benchmark through the first global alliance between Halliburton, TotalEnergies, and Noble.

About Halliburton

Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, YouTube, Instagram, and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260713936982/en/

Key Takeaways PATH is seeing agentic AI move into production while expanding workflow capabilities with Maestro Case.UiPath increased its customers with over $100K ARR to 2,624 and $1M ARR customers to 374.PATH trades at 13.82X forward earnings, below the industry average despite improving fundamentals. UiPath (PATH - Free Report) has experienced a sharp share price correction over the past six months, declining 27% compared with the industry’s 2% decline.

While concerns over AI competition and cautious enterprise spending have weighed on the stock, the company continues to strengthen its financial performance, expand its automation platform and deepen customer adoption. With a more reasonable valuation and growing traction in agentic AI, UiPath appears well-positioned to benefit from the next phase of enterprise automation.

                                                             Image Source: Zacks Investment Research

PATH’s Agentic AI Adoption Continues to AccelerateOne of the most encouraging developments for UiPath is the increasing adoption of its agentic AI platform. Roughly one year after making its agentic products generally available, the company is seeing customers move beyond pilot programs into full production deployments.

This transition is significant because production deployments typically indicate that customers are realizing measurable business value and integrating AI capabilities into mission-critical workflows rather than simply experimenting with new technology.

UiPath's role extends beyond simply providing AI agents. Its platform serves as an orchestration layer that coordinates workflows, automates execution and integrates AI-generated outputs directly into enterprise operations. As organizations increasingly deploy AI agents, this orchestration capability becomes increasingly valuable.

The recent introduction of UiPath for Coding Agents further strengthens the company's AI strategy by helping customers accelerate deployments and achieve faster time to value, potentially driving broader platform adoption across enterprise customers.

Maestro Case Broadens PATH’s Enterprise PlatformUiPath recently expanded its automation portfolio with the launch of Maestro Case, a capability designed to help enterprises manage complex, long-running workflows involving multiple participants, business systems and AI agents.

Many organizations still rely on fragmented processes involving emails, spreadsheets, and disconnected software to manage customer requests, approvals, and investigations. Maestro Case addresses these inefficiencies by treating every business case as an evolving workflow while combining automation with human oversight.

The launch appears to expand UiPath's competitive positioning against ServiceNow (NOW - Free Report) and Pegasystems (PEGA - Free Report) . While ServiceNow has built a strong franchise in enterprise workflow management and Pegasystems has long specialized in case management and business process automation, UiPath aims to differentiate itself by integrating robotic process automation, workflow orchestration, and agentic AI within a unified platform. As enterprises increasingly seek AI-enabled workflow solutions, PATH's broader automation capabilities could provide a meaningful competitive advantage over Pegasystems and ServiceNow.

Large Customer Growth Supports Long-Term OutlookUiPath continues to demonstrate strong enterprise adoption, particularly among its largest customers.

Customers generating more than $100,000 in annual recurring revenue increased from 2,365 to 2,624 over the past year, reflecting broader platform adoption and continued expansion within existing enterprise accounts.

Even more encouraging, customers contributing more than $1 million in ARR increased from 316 to 374. These larger customers typically represent deeper deployments, stronger retention and greater long-term expansion opportunities.

The company's expanding enterprise presence also strengthens its competitive position relative to Pegasystems, ServiceNow and Salesforce. While Salesforce continues to invest aggressively in enterprise AI and workflow automation, UiPath is carving out a differentiated position by combining robotic process automation, AI orchestration and workflow management into a single platform. Likewise, Salesforce's broader AI initiatives further validate the growing enterprise demand that UiPath is targeting.

Healthy Growth Projections StrengthenUiPath's long-term growth outlook remains healthy, supported by steady expansion in both earnings and revenues. The Zacks Consensus Estimate projects earnings growth of 10.4% in fiscal 2027, followed by an additional 8.2% increase in fiscal 2028, indicating sustained profitability despite a maturing business. Revenue growth is also expected to remain robust, with sales forecast to rise 11.1% in fiscal 2027 and 12.7% in fiscal 2028. The acceleration in top-line growth during fiscal 2028 suggests continued demand for UiPath's AI-powered automation platform, while consistent earnings expansion reflects improving operating leverage and disciplined execution.

                                                                   Image Source: Zacks Investment Research

Although risks such as enterprise IT spending uncertainty and intensifying competition remain, much of this caution now appears reflected in the current valuation, creating a more favorable risk-reward profile for patient investors.

Attractive Valuation Creates a Better Entry PointThe recent pullback has compressed its valuation to a forward price-to-earnings multiple of 13.82X, well below the industry average of 28.28X.

                                                                    Image Source: Zacks Investment Research

The lower valuation comes despite improving business fundamentals. Annualized recurring revenue (ARR) continues to expand steadily, operating margins have improved and UiPath recently reported its first-ever first-quarter GAAP profit. Management also raised its full-year guidance, signaling confidence in customer demand and the company's ability to monetize its expanding AI-powered automation portfolio.

PATH is a Buy NowUiPath's recent share price weakness appears disconnected from its improving operating performance. The company is expanding profitability, growing recurring revenue, strengthening relationships with large enterprise customers, and successfully extending its platform into workflow orchestration and agentic AI.

Although competitive pressures and macroeconomic uncertainty remain important risks, UiPath's discounted valuation, expanding AI capabilities, and growing enterprise adoption suggest the long-term investment thesis remains intact. If management continues executing on its AI roadmap while sustaining profitable growth, the current pullback could prove to be an attractive buying opportunity for long-term investors.

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

Key Takeaways Avient's Dyneema DM20 fiber earned ClassNK approval for floating offshore wind mooring systems.The certification is valid through February 2031 and supports permanent subsea installations.Avient's Toyobo MC partnership aims to expand Dyneema DM20 adoption across Japan's wind sector. Avient Corporation (AVNT - Free Report) recently announced that its Dyneema DM20 fiber has received Type Approval from Nippon Kaiji Kyokai for use as filament in synthetic fiber ropes designed for floating offshore wind turbine mooring systems. The ClassNK certification, issued in February 2026 and valid through February 2031, confirms compliance with ClassNK’s guidelines, making it suitable for permanent subsea installations, serving engineers, developers, and mooring line manufacturers.

The ClassNK approval of this high-modulus polyethylene fiber marks an important milestone as it is increasingly adopted in the global offshore wind sector, where durable, reliable and high-performing mooring systems are essential.

The fiber has already been installed at several European floating wind projects, including WindFloat Atlantic, WindFloat Kincardine, TetraSpar, and the EFGL project in the Golfe du Lion. These installations represent more than 100 MW of floating offshore wind demonstration capacity, proving itself to be well-positioned to support Japan’s fast-growing FOWT industry.

The ClassNK approval strengthens confidence among developers, engineers, and mooring manufacturers by validating the fiber’s performance in offshore applications. The certification also supports Avient’s collaboration with Toyobo MC, established in 2025, to promote broader adoption of Dyneema DM20 fibers for FOWT mooring solutions in Japan. Together, the partnership and ClassNK approval are expected to accelerate the adoption of synthetic mooring solutions as Japan’s floating offshore wind industry expands.

AVNT’s shares have gained 7.3% over the past year compared with the industry’s 3.8% decline.

Image Source: Zacks Investment Research

AVNT’s Zacks Rank & Key PicksAVNT currently carries a Zacks Rank #3 (Hold). 

Some better-ranked stocks in the Basic Materials space are Kronos Worldwide, Inc. (KRO - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Avino Silver & Gold Mines Ltd. (ASM - Free Report) .

While KRO sports a Zacks Rank #1 (Strong Buy) at present, CRS and ASM carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for KRO’s 2026 loss is pinned at 33 cents per share, indicating a 65.63% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in one of the trailing four quarters and missed the rest.

The Zacks Consensus Estimate for CRS’ 2026 earnings is pegged at $10.56 per share, indicating a rise of 41.18% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.95%.

The Zacks Consensus Estimate for ASM’s current fiscal-year earnings is pinned at 34 cents per share, indicating a 17.24% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 125%. ASM’sshares have gained 41% over the past year.

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NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of LiveRamp Holdings, Inc. (NYSE: RAMP) to Publicis Groupe. Under the terms of the proposed transaction, shareholders of LiveRamp will receive $38.50 in cash for each share of LiveRamp that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-ramp/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

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Key Takeaways Brown & Brown benefits from higher commissions, strong retention and rate increases across insurance lines.Accession integration and ongoing acquisitions continue to expand scale and drive revenue growth. BRO's diversified business mix and strong cash generation support acquisitions and shareholder returns. Shares of Brown & Brown, Inc. (BRO - Free Report) have lost 37.3% in the past year compared with the industry’s 27.9% decline.

The decline reflects slowing organic revenue growth, margin pressure from higher expenses, valuation compression, and concerns that a softer insurance pricing environment could slow premium and commission growth. Despite these factors, the company's strong client retention, new business generation and acquisitions remain intact. Recovery depends on improving earnings growth, stronger insurance market conditions and margin stabilization.

Shares of other insurers like Aon plc. (AON - Free Report) , Arthur J. Gallagher & Co. (AJG - Free Report) and Willis Towers Watson Public Limited Company (WTW - Free Report) have lost 0.8%, 19.7% and 6.3%, respectively, over the past year.

1-Year Price Performance - BRO, AON, AJG, WTW & Industry 
 

Image Source: Zacks Investment Research

BRO’s Average Target Price Suggests UpsideBased on short-term price targets offered by 16 analysts, the Zacks average price target is $74.25 per share. The average suggests a potential 9.7% upside from the last closing price.

Image Source: Zacks Investment Research

BRO’s ValuationShares of Brown & Brown are trading at a discount compared with the Zacks Brokerage Insurance industry. Its forward price-to-earnings multiple of 14.39X is lower than the industry average of 16.35X. It currently carries a Value Score of C.

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BRO’s Growth ProjectionThe Zacks Consensus Estimate for Brown & Brown’s 2026 earnings per share (EPS) indicates a year-over-year increase of 5.9%. The consensus estimate for revenues is pegged at $7.10 billion, implying a year-over-year improvement of 20.3%. The consensus estimate for 2027 EPS and revenues indicates increases of 8.2% and 5.2%, respectively, from the corresponding 2026 estimates.

Earnings have grown 19.2% in the past five years, better than the industry average of 13.9%. The expected long-term earnings growth rate is 4.8%.

Muted Analyst Sentiment on BROThe Zacks Consensus Estimate for 2026 earnings remained unchanged, while 2027 earnings moved 0.2% south in the last 30 days.

Factors That Benefit BROCommissions and fees, the main component of the top line, benefit from increasing new business, strong retention, and ongoing rate rises across most lines of coverage, supporting recurring revenue and earnings visibility. The company surpassed its intermediate annual revenue target of $4 billion in 2024 and now targets $8 billion in revenues. Last year, its revenues reached $5.9 billion. Additionally, strong contingent commission income supports earnings growth, with contingent commissions increasing $54 million in the first quarter of 2026, including a $22 million contribution from the Accession acquisition.

Brown & Brown’s strategic buyouts help it capitalize on growing market opportunities, strengthen its products and service portfolio, expand global reach and accelerate growth rate. From 1993 through the first quarter of 2026, Brown & Brown acquired 725 insurance intermediary operations. Brown & Brown's growth continues to be driven by the successful integration of the Accession acquisition, which significantly expanded the company's scale and contributed approximately $445 million in first-quarter revenues, helping total revenues rise 35.4% year over year.

The company operates across Retail and Specialty Distribution businesses, providing broad exposure to multiple insurance markets. Revenues from the retail segment have contributed a lion’s share to the company’s total revenues. In the first quarter of 2026, retail revenues increased 33.4% year over year, while Specialty Distribution revenues rose 40%. The balanced contribution from multiple business lines reduces reliance on any single product line.

The company also benefits from robust cash generation and disciplined capital allocation. While BRO effectively deploys cash towards acquisitions and capital expenditure, it also distributes wealth to shareholders via dividend increases. The company has an annualized dividend growth rate of 13.2% over the past five years.

HeadwindsBrown & Brown has been experiencing rising expenses due to higher employee compensation and benefits, amortization, other operating expenses and interest expense. These factors are creating pressure on margins despite revenue growth.

BRO's expanding international operations expose it to foreign currency, regulatory and economic risks across global markets. Additionally, rising debt levels from acquisition-driven growth are increasing interest expenses.

Profitability metrics also lag industry levels. Brown & Brown’s return on equity is 12.9%, well below the industry average of 18.8%.

ConclusionBRO’s commission growth, new business, strong retention, strategic buyouts, diversified brokerage platform and impressive dividend history position the company well for growth. Its robust capital position, favorable estimates, and cheap valuation are other positives. However, international expansion risks, unfavorable ROE, rising expenses, and debt levels are the headwinds.

Therefore, it is wise to adopt a wait-and-see approach on this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.