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According to the latest estimates, Nvidia (NASDAQ: NVDA) is scheduled to pay its third quarterly dividend of 2026 on October 2.

The chipmaker will reward shareholders with $0.25 per share, meaning the payment will remain unchanged from the previous Nvidia dividend payout date on June 26, as per the data Finbold assessed on Dividend.com.

Like the June payout, the upcoming dividend is a continuation of the company’s new dividend policy of distributing 50% of free cash flow via dividends and share buybacks.

Shareholders holding 100 NVDA shares will receive $25 in dividends pre-tax – a significant increase from just $1 received in April.

Nvidia stock dividend schedule. Source: Dividend.com New Nvidia dividend strategy continues With about 24.391 billion shares outstanding, the total dividend payout will amount to approximately $6.1 billion. To be eligible for the next Nvidia stock dividend, investors will have to have purchased their shares by August 27, at least according to the current estimates.

As of press time, the company’s projected three-year dividend compound annual growth rate (CAGR) stands at 262.2% for 2026 and 197.4% for 2027. On the other hand, the projected five-year CAGR is expected to exceed 116% in 2026 and 128% in 2027. The estimated 10-year dividend CAGR is projected at more than 51%.

Despite the rapid dividend growth, however, Nvidia’s forward payout ratio remains just 7.84%, suggesting the company retains the vast majority of its earnings for investments. Nonetheless, the company has increased its dividend for three consecutive years, showing it still remains committed to returning capital, even while maintaining an aggressive growth strategy. 

Overall, Nvidia currently has a dividend yield of 0.13%. For comparison, the average yield in the sector is 1.37%. Finally, the stock pays dividends on a quarterly basis, and the price usually recovers within 2.5 days after the ex-dividend date.

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Posted by Defense World Staff on Jul 24th, 2026

Bank of Nova Scotia reduced its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 36.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 761,803 shares of the company’s stock after selling 433,751 shares during the quarter. Bank of Nova Scotia’s holdings in Johnson & Johnson were worth $186,215,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in JNJ. Brighton Jones LLC increased its stake in Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock worth $7,502,000 after buying an additional 6,332 shares during the period. United Bank boosted its position in Johnson & Johnson by 110.7% in the 1st quarter. United Bank now owns 9,279 shares of the company’s stock valued at $1,539,000 after buying an additional 4,876 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Johnson & Johnson by 13.4% in the second quarter. Sivia Capital Partners LLC now owns 5,863 shares of the company’s stock worth $896,000 after acquiring an additional 692 shares in the last quarter. Wealth Group Ltd. increased its position in shares of Johnson & Johnson by 12.8% during the second quarter. Wealth Group Ltd. now owns 1,482 shares of the company’s stock worth $226,000 after acquiring an additional 168 shares during the period. Finally, Schnieders Capital Management LLC. raised its stake in shares of Johnson & Johnson by 9.8% in the second quarter. Schnieders Capital Management LLC. now owns 73,680 shares of the company’s stock valued at $11,255,000 after acquiring an additional 6,584 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson News Roundup Here are the key news stories impacting Johnson & Johnson this week:

Positive Sentiment: The FDA granted marketing authorization for J&J’s OTTAVA robotic surgical system, a potentially meaningful new business in soft-tissue robotics that could expand the MedTech division. Reuters article Positive Sentiment: J&J also reported encouraging late-stage data for its multiple myeloma therapies Tecvayli and Talvey, with the MonumenTAL-6 study showing large reductions in progression risk and death, strengthening the company’s oncology pipeline. PR Newswire article Positive Sentiment: Investors are also responding to J&J’s recent quarterly earnings beat and upbeat 2026 outlook, which has boosted sentiment around the stock and drawn interest from ETF investors. Yahoo Finance article Positive Sentiment: J&J raised its dividend, reinforcing its appeal as a defensive income stock and supporting demand from dividend-focused investors. Yahoo Finance article Neutral Sentiment: Several articles were commentary pieces discussing J&J’s valuation, ETF exposure, and investor attention, but they do not add a new fundamental catalyst on their own. MarketBeat article Negative Sentiment: A Reuters report said a judge cast doubt on roughly 69,000 talc-related cancer claims, which could still keep legal uncertainty in focus despite being framed as a procedural win for J&J. Reuters article Analysts Set New Price Targets Several research analysts recently commented on the company. Royal Bank Of Canada boosted their target price on Johnson & Johnson from $265.00 to $287.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Bank of America upped their target price on shares of Johnson & Johnson from $254.00 to $263.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Argus raised their target price on shares of Johnson & Johnson from $240.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Scotiabank reiterated an “outperform” rating and issued a $305.00 price target on shares of Johnson & Johnson in a research note on Thursday, July 16th. Finally, Guggenheim reissued a “buy” rating and issued a $270.00 price objective on shares of Johnson & Johnson in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.30.

Get Our Latest Stock Analysis on JNJ

Insider Activity In related news, EVP Kathryn E. Wengel sold 10,000 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $241.15, for a total value of $2,411,500.00. Following the transaction, the executive vice president directly owned 114,288 shares of the company’s stock, valued at $27,560,551.20. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Up 1.5% JNJ opened at $259.34 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.03. Johnson & Johnson has a one year low of $164.23 and a one year high of $269.43. The company has a market cap of $624.29 billion, a P/E ratio of 30.05, a PEG ratio of 2.43 and a beta of 0.24. The business’s 50-day simple moving average is $241.98 and its 200-day simple moving average is $236.13.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its earnings results on Wednesday, July 15th. The company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.06. The firm had revenue of $25.31 billion during the quarter, compared to analysts’ expectations of $25.06 billion. Johnson & Johnson had a return on equity of 32.86% and a net margin of 21.48%.The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.77 earnings per share. Johnson & Johnson has set its FY 2026 guidance at 11.600-11.750 EPS. As a group, equities research analysts expect that Johnson & Johnson will post 11.68 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 25th will be issued a $1.34 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $5.36 annualized dividend and a dividend yield of 2.1%. Johnson & Johnson’s dividend payout ratio is presently 62.11%.

Johnson & Johnson Profile (Free Report)

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.

Read More Five stocks we like better than Johnson & Johnson Premium Retail’s Stress Test Is Separating Winners From Losers D-Wave Quantum or a Quantum ETF: Which Is the Better Bet? GE Vernova Just Sent a Mixed AI Signal to Investors Alphabet Crushed Earnings, But One Number Spooked the Market Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ – Free Report).

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Computer motherboard and Intel chip appear in this illustration taken August 25, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

July 24 (Reuters) - Intel's (INTC.O), opens new tab shares rose 6% in premarket trading on Friday after bullish forecasts signaled the AI boom was propelling the chipmaker's long-awaited turnaround.

The company forecast third-quarter ​revenue above Wall Street expectations and raised this year's ‌capital expenditure estimate to $20 billion from $18 billion.

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Intel's improving outlook reflects growing adoption of its data center central processing units (CPUs) by customers building infrastructure for artificial intelligence, as CEO ​Lip-Bu Tan works to position the company as a broader ​beneficiary of AI-driven semiconductor demand despite Nvidia's (NVDA.O), opens new tab lead in ⁠accelerator chips.

"The capex increase not only signals confidence in cash flow ​upside and demand visibility from long-term agreements for products, but also ​confidence that Foundry customers are coming (for packaging and 14A wafers)," analysts at Melius Research said.

This month's selloff in global chip stocks has pushed Intel off record highs, ​but the shares have more than doubled this year, driven ​by optimism around the company's turnaround efforts.

The strong results prompted at least six analysts to ‌raise ⁠their price targets, leaving the median target about 8.8% above the stock's last close, according to data compiled by LSEG.

Tan has spent the past year strengthening Intel's finances, securing backing from the U.S. government ​and major investors ​as the ⁠chipmaker seeks to play a key role in Washington's push to revive domestic semiconductor manufacturing.

"The aggressive capex ​raise is a proof point that Intel is likely ​to ⁠see continued customer acquisition as the United States demands more domestic semiconductor manufacturing," D.A. Davidson analysts said.

Demand for data center CPUs has surged alongside ⁠the ​rise of AI agents, with Intel executives ​noting earlier this year that orders were running ahead of the company's production capacity.

Reporting ​by Joel Jose in Bengaluru; Editing by Amanda Cooper and Devika Syamnath

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

, /PRNewswire/ -- Charter Communications, Inc. (along with its subsidiaries, the "Company" or "Charter"), which operates the Spectrum brand, today reported financial and operating results for the three and six months ended June 30, 2026.

Second quarter Spectrum MobileTM lines increased by 406,000 and by 1.7 million over the last twelve months. As of June 30, 2026, Charter served 12.5 million mobile lines. During the second quarter, Spectrum Internet® customers declined by 172,000. As of June 30, 2026, Charter served 29.4 million Internet customers. Video customers decreased by 21,000 in the second quarter and declined by 107,000, or 0.8%, over the last twelve months. As of June 30, 2026, Charter served 12.5 million video customers. As of June 30, 2026, customer relationships totaled 31.5 million and connectivity customers totaled 30.4 million. Second quarter revenue of $13.5 billion declined 1.7% year-over-year, primarily driven by lower residential video revenue. Net income attributable to Charter shareholders totaled $1.3 billion in the second quarter. Second quarter Adjusted EBITDA1 of $5.4 billion declined 4.3% year-over-year and by 3.2% excluding transition expenses. Second quarter capital expenditures totaled $2.9 billion. Second quarter net cash flows from operating activities of $3.9 billion vs. $3.6 billion in the prior year. Second quarter free cash flow1 of $969 million declined $77 million versus the prior year, primarily due to an unfavorable change in accrued expenses related to capital expenditures, partly offset by higher operating cash flow. During the second quarter, Charter purchased 4.0 million shares of Charter Class A common stock for $838 million and $1.2 billion in aggregate principal amount of Charter Communications Operating, LLC and CCO Holdings, LLC notes under an open market repurchase program for $1.0 billion in cash. "We operate in a competitive environment across all of our products, and our strategy for growing connectivity services is simple -- deliver the best products, at the best overall value, with the best service," said Chris Winfrey, President and CEO of Charter. "We look forward to delivering the benefits of that strategy to Cox's customers and communities after the transaction closes. As the nation's leading provider of converged connectivity services, Spectrum will have additional scale to develop new products with industry and technology partners. And by saving customers money with Spectrum products, serviced by 100% US-based employees -- we will drive customer and shareholder value for years to come."

1.

Adjusted EBITDA and free cash flow are non-GAAP measures defined in the "Use of Adjusted EBITDA and Free Cash Flow Information" section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release.

Key Operating Results

Approximate as of

June 30, 2026 (d)

June 30, 2025 (d)

Y/Y Change

Footprint

Estimated Passings (e)

58,981

57,540

2.5 %

Customer Relationships (f)

Residential

29,276

29,819

(1.8) %

Small Business

2,223

2,241

(0.8) %

Total Customer Relationships

31,499

32,060

(1.7) %

Residential

(176)

(95)

(81)

Small Business

(8)

(5)

(3)

Total Customer Relationships Quarterly Net Additions

(184)

(100)

(84)

Total Customer Relationship Penetration of Estimated Passings (g)

53.4 %

55.7 %

(2.3) ppts

Monthly Residential Revenue per Residential Customer (h)

$               117.52

$               119.70

(1.8) %

Monthly Small Business Revenue per Small Business Customer (i)

$               165.27

$               162.91

1.4 %

Residential Customer Relationships Penetration (j)

One Product Penetration

47.4 %

48.7 %

(1.3) ppts

Two Product Penetration

35.1 %

33.8 %

1.3 ppts

Three or More Product Penetration

17.6 %

17.5 %

0.1 ppts

Connectivity (k)

Residential

28,306

28,705

(1.4) %

Small Business

2,069

2,076

(0.4) %

Total Connectivity Customers

30,375

30,781

(1.3) %

Residential

(140)

(53)

(87)

Small Business

(5)

(4)

(1)

Total Connectivity Quarterly Net Additions

(145)

(57)

(88)

Internet

Residential

27,358

27,868

(1.8) %

Small Business

2,030

2,040

(0.5) %

Total Internet Customers

29,388

29,908

(1.7) %

Residential

(166)

(111)

(55)

Small Business

(6)

(5)

(1)

Total Internet Quarterly Net Additions

(172)

(116)

(56)

Mobile Lines (l)

Residential

12,099

10,502

15.2 %

Small Business

441

354

24.4 %

Total Mobile Lines

12,540

10,856

15.5 %

Residential

385

471

(86)

Small Business

21

20

1

Total Mobile Lines Quarterly Net Additions

406

491

(85)

Video (m)

Residential

12,010

12,087

(0.6) %

Small Business

514

544

(5.4) %

Total Video Customers

12,524

12,631

(0.8) %

Residential

(11)

(73)

62

Small Business

(10)

(7)

(3)

Total Video Quarterly Net Additions

(21)

(80)

59

Voice

Residential

4,494

5,161

(12.9) %

Small Business

1,200

1,225

(2.1) %

Total Voice Customers

5,694

6,386

(10.8) %

Mid-Market & Large Business (n)

Mid-Market & Large Business Primary Service Units ("PSUs")

364

350

3.9 %

Mid-Market & Large Business Quarterly Net Additions

4

6

(2)

In thousands, except per customer and penetration data. See footnotes to unaudited summary of operating statistics on page 7 of the addendum of this news release. The footnotes contain important disclosures regarding the definitions used for these operating statistics.  All percentages are calculated using whole numbers. Minor differences may exist due to rounding. 

Second quarter total Internet customers decreased by 172,000, compared to a decline of 116,000 during the second quarter of 2025. Spectrum Internet delivers the most reliable Internet1, and the Company is evolving its connectivity network to offer symmetrical and multi-gigabit Internet speeds across its entire footprint and has launched symmetrical Internet service in several markets. Spectrum expects to complete its network evolution initiative in 2027. In February 2026, Spectrum launched its Invincible WiFiTM product, a tri-band advanced WiFi 7 router that integrates 5G cellular and battery backup to keep customers seamlessly and fully connected during a power outage or network disruption. In the first quarter, Spectrum launched its $1,000 savings guarantee; new or existing Spectrum Internet customers switching two or more mobile lines from Verizon, AT&T or T-Mobile are now guaranteed $1,000 of savings in their first year, or Spectrum will cover the difference.

During the second quarter of 2026, Charter added 406,000 total mobile lines, compared to growth of 491,000 during the second quarter of 2025. Spectrum Mobile has faster wireless speeds than the competition (AT&T, T-Mobile, Verizon).2 Spectrum Mobile is central to Charter's converged network strategy to provide customers a differentiated connectivity experience with highly competitive, simple data plans and pricing.

Total video customers decreased by 21,000 in the second quarter of 2026, compared to a decline of 80,000 in the second quarter of 2025, with the improvement driven by simplified pricing and packaging and benefits from the inclusion of programmers' streaming applications in Spectrum's expanded basic video packages. As of June 30, 2026, Charter had 12.5 million total video customers.

Spectrum TV Select video customers now receive up to approximately $127 per month of programmers' streaming application retail value at no extra cost, including the ad-supported versions of Disney+, Hulu, ESPN Unlimited, HBO Max, Paramount+, Peacock, AMC+, ViX, Tennis Channel, Fox One and Discovery+. Beginning in June 2026, Spectrum customers can purchase ad-supported and ad-free versions of Netflix through the Spectrum App Store. The Spectrum App Store is an innovative digital marketplace where Spectrum TV customers can activate, manage and upgrade the streaming apps included with their video plans. The Spectrum App Store also allows Spectrum customers without a traditional TV package to purchase and manage streaming apps à la carte.

During the second quarter of 2026, total wireline voice customers declined by 178,000, compared to a decline of 220,000 in the second quarter of 2025. As of June 30, 2026, Charter had 5.7 million total wireline voice customers.

Charter continues to work with federal, state and local governments to bring Spectrum Internet to unserved and underserved communities. During the second quarter of 2026, Charter activated 127,000 subsidized rural passings. Within Charter's subsidized rural footprint, total customer relationships increased by 47,000 in the second quarter of 2026.

1.

Most reliable Internet claim based on Broadband Reliability Experience among top 5 national providers in Opensignal USA: Fixed Broadband Experience Report – May 2026. Based on Opensignal independent analysis of Internet connectivity, completion, and sufficiency.

2.

Based on Download Speeds among top 5 national providers in Opensignal USA, Converged Experience, April 2026.

Second Quarter Financial Results
(in millions)

Three Months Ended June 30,

2026

2025

% Change

Revenues:

Internet

$    5,776

$    5,969

(3.2) %

Mobile service

1,095

921

18.9 %

Connectivity

6,871

6,890

(0.3) %

Video

3,149

3,488

(9.7) %

Voice

331

346

(4.5) %

Residential revenue

10,351

10,724

(3.5) %

Small business

1,104

1,096

0.7 %

Mid-market & large business

761

740

2.8 %

Commercial revenue

1,865

1,836

1.5 %

Advertising sales

416

371

12.3 %

Other

894

835

7.1 %

Total Revenues

$  13,526

$  13,766

(1.7) %

Net income attributable to Charter shareholders

$    1,292

$    1,301

(0.7) %

Net income attributable to Charter shareholders margin

9.6 %

9.4 %

Adjusted EBITDA1

$    5,449

$    5,693

(4.3) %

Adjusted EBITDA margin

40.3 %

41.4 %

Capital expenditures

$    2,871

$    2,874

(0.1) %

Net cash flows from operating activities

$    3,925

$    3,600

9.0 %

Free cash flow1

$       969

$    1,046

(7.4) %

All percentages are calculated using whole numbers. Minor differences may exist due to rounding.

1.

Adjusted EBITDA and free cash flow are non-GAAP measures defined in the "Use of Adjusted EBITDA and Free Cash Flow Information" section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release. 

Revenues

Second quarter revenue decreased by 1.7% year-over-year to $13.5 billion, driven by lower residential video revenue mostly due to higher costs allocated to programmer streaming applications and netted within video revenue and lower residential Internet revenue, partly offset by an increase in residential mobile service revenue, higher mobile device revenue and higher advertising sales revenue. Excluding advertising sales revenue and costs allocated to programmer streaming applications and netted within video revenue, second quarter total revenue declined by 0.8% year-over-year.

Residential revenue totaled $10.4 billion in the second quarter, a decrease of 3.5% year-over-year, driven by a year-over-year decline in residential customers of 1.8% and a decrease in monthly residential revenue per residential customer of 1.8%. Excluding costs allocated to programmer streaming applications and netted within video revenue, residential revenue declined by 1.8%.

Second quarter 2026 monthly residential revenue per residential customer totaled $117.52, a decrease of 1.8% compared to the prior year period. The decline was driven by $251 million of costs allocated to programmer streaming applications and netted within video revenue versus $67 million in the prior year period, pricing and packaging mix within Charter's customer base and a decline in video customers during the last year, partly offset by the growth of Spectrum Mobile. Excluding costs allocated to programmer streaming applications and netted within video revenue, monthly residential revenue per residential customer decreased 0.1% compared to the prior year period.

Internet revenue declined 3.2% year-over-year to $5.8 billion, driven by a decline in Internet customers year-over year and pricing and packaging mix within Charter's customer base, partly offset by more favorable bundled revenue allocation year-over-year.

Second quarter mobile service revenue totaled $1.1 billion, an increase of 18.9% year-over-year, driven by mobile line growth and rate adjustments.

Video revenue totaled $3.1 billion in the second quarter, a decrease of 9.7% compared to the prior year period, driven by a higher mix of lower priced video packages within Charter's video customer base, $251 million of costs allocated to programmer streaming applications and netted within video revenue versus $67 million in the prior year period, more unfavorable bundled revenue allocation year-over-year and a decline in video customers during the last year, partly offset by promotional rate step-ups and video rate adjustments that pass through programmer rate increases.

Voice revenue decreased by 4.5% year-over-year to $331 million, driven by a decline in wireline voice customers, partly offset by voice rate adjustments.

Commercial revenue increased by 1.5% year-over-year to $1.9 billion, driven by mid-market and large business revenue growth of 2.8% year-over-year and an increase in small business revenue of 0.7%. Mid-market and large business revenue excluding wholesale increased by 3.5% year-over-year, mostly reflecting PSU growth. The year-over-year increase in second quarter 2026 small business revenue was driven by a 1.4% increase year-over-year in monthly small business revenue per small business customer, partly offset by a decline of 0.8% in small business customer relationships year-over-year.

Second quarter advertising sales revenue of $416 million increased by 12.3% compared to the year-ago quarter, primarily driven by higher political revenue. Excluding political revenue in both periods, advertising sales revenue decreased by 4.6% year-over-year driven by lower linear advertising revenue, partly offset by higher streaming advertising revenue.

Other revenue totaled $894 million in the second quarter, an increase of 7.1% compared to the second quarter of 2025, primarily driven by higher mobile device sales, partly offset by a $45 million one-time benefit in the prior year period.

Operating Costs and Expenses

Second quarter total operating costs and expenses were flat year-over-year at $8.1 billion, primarily driven by lower programming costs, offset by higher other costs of revenue and higher transition expenses.

Second quarter programming costs decreased by $218 million, or 9.7% as compared to the second quarter of 2025, reflecting $251 million of costs allocated to programmer streaming applications and netted within video revenue versus $67 million in the prior year period, a higher mix of lower cost packages within Charter's video customer base and fewer video customers, partly offset by contractual programming rate increases and renewals.

Other costs of revenue increased by $186 million, or 11.3% year-over-year, primarily driven by higher mobile device sales, higher mobile service direct costs and higher advertising sales costs given higher political revenue.

Field and technology operations expenses increased by $21 million, or 1.6% year-over-year, primarily driven by higher vehicle fuel costs and medical expenses.

Customer operations expenses increased by $8 million, or 1.1% year-over-year, driven by medical expenses.

Marketing and residential sales expenses decreased by $31 million or 3.1% year-over-year, due to lower marketing expenses from cost savings, despite higher marketing activity.

Transition expenses represent incremental costs incurred to prepare for the integration of the previously announced Cox transaction.

Other expenses decreased by $27 million, or 2.5% as compared to the second quarter of 2025, primarily driven by lower professional services expense.

Net Income Attributable to Charter Shareholders

Net income attributable to Charter shareholders totaled $1.3 billion in the second quarter of 2026 and 2025, with lower Adjusted EBITDA offset by a gain on extinguishment of debt related to open market debt repurchases in the second quarter of 2026.

Net income per basic common share attributable to Charter shareholders totaled $10.76 in the second quarter of 2026 compared to $9.41 during the same period last year. The increase was primarily the result of a 13.1% decrease in basic weighted average common shares outstanding versus the prior year period.

Adjusted EBITDA

Second quarter Adjusted EBITDA of $5.4 billion declined by 4.3% year-over-year, reflecting a decline in revenue of 1.7%, while operating costs and expenses remained flat. Excluding transition expenses, Adjusted EBITDA declined 3.2% year-over-year.

Capital Expenditures

Capital expenditures totaled $2.9 billion in the second quarter of 2026, in-line with the prior year period, with lower line extension spend offset by higher upgrade/rebuild (primarily network evolution).

Charter continues to expect full year 2026 capital expenditures, excluding impacts from the previously announced Cox transaction, to total approximately $11.4 billion. The actual amount of capital expenditures in 2026 will depend on a number of factors including, but not limited to, the pace of Charter's network evolution and expansion initiatives, supply chain timing and growth rates in Charter's residential and commercial businesses.

Cash Flow and Free Cash Flow

During the second quarter of 2026, net cash flows from operating activities totaled $3.9 billion, an increase from $3.6 billion in the prior year. The year-over-year increase was primarily due to lower cash taxes, partly offset by lower Adjusted EBITDA.

Free cash flow in the second quarter of 2026 totaled $969 million, a decrease of $77 million compared to the second quarter of 2025. The year-over-year decrease in free cash flow was driven by an unfavorable change in accrued expenses related to capital expenditures, partly offset by higher net cash flows from operating activities.

Liquidity & Financing

As of June 30, 2026, total principal amount of debt was $93.8 billion and Charter's credit facilities provided approximately $3.7 billion of additional liquidity in excess of Charter's $509 million cash position.

During the three months ended June 30, 2026, Charter purchased $1.2 billion in aggregate principal amount of various Charter Communications Operating, LLC and CCO Holdings, LLC notes under an open market repurchase program for $1.0 billion in cash.

Share Repurchases

During the three months ended June 30, 2026, Charter purchased 4.0 million shares of Charter Class A common stock for $838 million.

Webcast

Charter will host a webcast on Friday, July 24, 2026 at 8:00 a.m. Eastern Time (ET) related to the contents of this release.

The webcast can be accessed live via the Company's investor relations website at ir.charter.com. Participants should go to the webcast link no later than 10 minutes prior to the start time to register. The webcast will be archived at ir.charter.com two hours after completion of the webcast.

Additional Information Available on Website

The information in this press release should be read in conjunction with the financial statements and footnotes contained in the Company's Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, which will be posted on the "Results & SEC Filings" section of the Company's investor relations website at ir.charter.com, when it is filed with the Securities and Exchange Commission (the "SEC"). A slide presentation to accompany the conference call and a trending schedule containing historical customer and financial data will also be available in the "Results & SEC Filings" section.

Use of Adjusted EBITDA and Free Cash Flow Information

The Company uses certain measures that are not defined by U.S. generally accepted accounting principles ("GAAP") to evaluate various aspects of its business. Adjusted EBITDA and free cash flow are non-GAAP financial measures and should be considered in addition to, not as a substitute for, net income attributable to Charter shareholders and net cash flows from operating activities reported in accordance with GAAP. These terms, as defined by Charter, may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA and free cash flow are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the Addendum to this release.

Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other income (expenses), net and other operating (income) expenses, net, such as special charges, merger and acquisition costs and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of the Company's businesses as well as other non-cash or special items, and is unaffected by the Company's capital structure or investment activities. However, this measure is limited in that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues and the cash cost of financing. These costs are evaluated through other financial measures.

Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.

Management and Charter's board of directors use Adjusted EBITDA and free cash flow to assess Charter's performance and its ability to service its debt, fund operations and make additional investments with internally generated funds. In addition, Adjusted EBITDA generally correlates to the leverage ratio calculation under the Company's credit facilities or outstanding notes to determine compliance with the covenants contained in the facilities and notes (all such documents have been previously filed with the SEC). For the purpose of calculating compliance with leverage covenants, the Company uses Adjusted EBITDA, as presented, excluding certain expenses paid by its operating subsidiaries to other Charter entities. The Company's debt covenants refer to these expenses as management fees, which were $336 million and $702 million for the three and six months ended June 30, 2026, respectively, and $366 million and $732 million for the three and six months ended June 30, 2025, respectively.

About Charter

Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company with services available to nearly 59 million homes and small to large businesses across 41 states through its Spectrum brand. Founded in 1993, Charter has evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, the Company offers Seamless Connectivity and Entertainment with Spectrum Internet®, Mobile, TV and Voice products.

More information about Charter can be found at corporate.charter.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial.  Although we believe that our plans, intentions and expectations as reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations.  Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under "Risk Factors" from time to time in our filings with the SEC.  Many of the forward-looking statements contained in this communication may be identified by the use of forward-looking words such as "believe," "future," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," "aim," "on track," "target," "opportunity," "tentative," "positioning," "designed," "create," "predict," "project," "initiatives," "seek," "would," "could," "continue," "ongoing," "upside," "increases," "grow," "focused on" and "potential," among others.  Important factors that could cause actual results to differ materially from the forward-looking statements we make in this communication are set forth in our annual report on Form 10-K, and in other reports or documents that we file from time to time with the SEC, and include, but are not limited to:

our ability to sustain and grow revenues and cash flow from operations by offering Internet, mobile, video, voice, advertising and other services to residential and commercial customers, to adequately meet the customer experience demands in our service areas and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition, the need for innovation and the related capital expenditures; the impact of competition from other market participants, including but not limited to incumbent telephone companies, direct broadcast satellite ("DBS") operators, wireless and satellite broadband and telephone providers, digital subscriber line ("DSL") providers, fiber to the home providers and providers of video content over broadband Internet connections; general business conditions, unemployment levels and the level of activity in the housing sector and economic uncertainty or downturn; our ability to develop and deploy new products and technologies including consumer services and service platforms; any events that disrupt our networks, information systems or properties and impair our operating activities or our reputation; the effects of governmental regulation on our business including subsidies to consumers, subsidies and incentives for competitors, costs, disruptions and possible limitations on operating flexibility related to, and our ability to comply with, regulatory conditions applicable to us; our ability to procure necessary services and equipment from our vendors in a timely manner and at reasonable costs including in connection with our network evolution and rural construction initiatives; our ability to obtain programming at reasonable prices or to raise prices to offset, in whole or in part, the effects of higher programming costs (including retransmission consents and distribution requirements); the ability to hire and retain key personnel; the availability and access, in general, of funds to meet our debt obligations prior to or when they become due and to fund our operations and necessary capital expenditures, either through (i) cash on hand, (ii) free cash flow, or (iii) access to the capital or credit markets; our ability to comply with all covenants in our indentures and credit facilities, any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions; our ability to satisfy the conditions to consummate the Liberty Broadband Combination and/or the Cox Transactions and/or to consummate the Liberty Broadband Combination and/or the Cox Transactions in a timely manner or at all; the risks related to us being restricted in the operation of our business while the Liberty Broadband Merger Agreement and the Cox Communications Transaction Agreement are in effect; other risks related to the Liberty Broadband Combination as described in the definitive joint proxy statement/prospectus with respect to the Liberty Broadband Combination, filed by Charter on January 22, 2025, including the sections entitled "Risk Factors" and "Where You Can Find More Information" included therein; and other risks related to the Cox Transactions as described in the definitive proxy statement with respect to the Cox Transactions, filed by Charter on July 2, 2025, including the sections entitled "Risk Factors" and "Where You Can Find More Information" included therein. All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement.  We are under no duty or obligation to update any of the forward-looking statements after the date of this communication.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO GAAP MEASURES

(dollars in millions) 

Three Months Ended
June 30,

Six Months Ended
June 30,

Last Twelve Months
Ended June 30,

2026

2025

2026

2025

2026

2025

Net income attributable to Charter shareholders

$    1,292

$    1,301

$    2,455

$    2,518

$    4,924

$    5,264

Plus:  Net income attributable to noncontrolling interest

232

194

432

386

825

790

Interest expense, net

1,276

1,263

2,532

2,504

5,070

5,089

Income tax expense

475

414

940

859

1,773

1,635

Depreciation and amortization

2,197

2,176

4,408

4,357

8,762

8,670

Stock compensation expense

138

157

341

379

635

663

Other, net

(161)

188

(22)

453

349

752

Adjusted EBITDA (a)

$    5,449

$    5,693

$   11,086

$   11,456

$   22,338

$   22,863

Net cash flows from operating activities

$    3,925

$    3,600

$    8,229

$    7,836

$   16,470

$   15,201

Less:  Purchases of property, plant and equipment

(2,871)

(2,874)

(5,726)

(5,273)

(12,112)

(10,898)

Change in accrued expenses related to capital expenditures

(85)

320

(162)

47

377

910

Free cash flow (a)

$       969

$    1,046

$    2,341

$    2,610

$    4,735

$    5,213

The above schedule is presented in order to reconcile Adjusted EBITDA and free cash flow, non-GAAP measures, to the most directly comparable GAAP measures in accordance with Section 401(b) of the Sarbanes-Oxley Act.

UNAUDITED ALTERNATIVE PRESENTATION OF ADJUSTED EBITDA

(dollars in millions) 

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

% Change

2026

2025

% Change

REVENUES:

Internet

$        5,776

$        5,969

(3.2) %

$       11,628

$       11,899

(2.3) %

Mobile service

1,095

921

18.9 %

2,147

1,835

17.0 %

Connectivity

6,871

6,890

(0.3) %

13,775

13,734

0.3 %

Video

3,149

3,488

(9.7) %

6,401

7,068

(9.4) %

Voice

331

346

(4.5) %

669

702

(4.7) %

Residential revenue

10,351

10,724

(3.5) %

20,845

21,504

(3.1) %

Small business

1,104

1,096

0.7 %

2,194

2,184

0.4 %

Mid-market & large business

761

740

2.8 %

1,510

1,474

2.4 %

Commercial revenue

1,865

1,836

1.5 %

3,704

3,658

1.2 %

Advertising sales

416

371

12.3 %

774

711

9.0 %

Other

894

835

7.1 %

1,800

1,628

10.6 %

Total Revenues

13,526

13,766

(1.7) %

27,123

27,501

(1.4) %

COSTS AND EXPENSES:

Programming

2,035

2,253

(9.7) %

4,123

4,555

(9.5) %

Other costs of revenue

1,837

1,651

11.3 %

3,602

3,235

11.3 %

Field and technology operations

1,313

1,292

1.6 %

2,571

2,574

(0.1) %

Customer operations

785

777

1.1 %

1,551

1,549

0.2 %

Marketing and residential sales

927

958

(3.1) %

1,846

1,907

(3.2) %

Transition expenses (b)

65

—

n/a

89

—

n/a

Other expense (c)

1,115

1,142

(2.5) %

2,255

2,225

1.3 %

Total operating costs and expenses (c)

8,077

8,073

— %

16,037

16,045

(0.1) %

Adjusted EBITDA (a)

$        5,449

$        5,693

(4.3) %

$       11,086

$       11,456

(3.2) %

All percentages are calculated using whole numbers. Minor differences may exist due to rounding.  See footnotes on page 7.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(dollars in millions, except per share data)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

REVENUES

$      13,526

$      13,766

$       27,123

$       27,501

COSTS AND EXPENSES:

Operating costs and expenses (exclusive of items shown separately below)

8,215

8,230

16,378

16,424

Depreciation and amortization

2,197

2,176

4,408

4,357

Other operating expenses, net

51

81

66

204

10,463

10,487

20,852

20,985

Income from operations

3,063

3,279

6,271

6,516

OTHER INCOME (EXPENSES):

Interest expense, net

(1,276)

(1,263)

(2,532)

(2,504)

Other income (expenses), net

212

(107)

88

(249)

(1,064)

(1,370)

(2,444)

(2,753)

Income before income taxes

1,999

1,909

3,827

3,763

Income tax expense

(475)

(414)

(940)

(859)

Consolidated net income

1,524

1,495

2,887

2,904

Less: Net income attributable to noncontrolling interests

(232)

(194)

(432)

(386)

Net income attributable to Charter shareholders

$        1,292

$        1,301

$        2,455

$        2,518

EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHARTER SHAREHOLDERS:

Basic

$        10.76

$         9.41

$        20.00

$        18.00

Diluted

$        10.66

$         9.18

$        19.81

$        17.59

Weighted average common shares outstanding, basic

120,121,017

138,205,810

122,789,924

139,889,251

Weighted average common shares outstanding, diluted

121,255,667

141,684,415

123,969,262

143,098,493

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 

CONDENSED CONSOLIDATED BALANCE SHEETS

(dollars in millions) 

June 30,

December 31

2026

2025

ASSETS

(unaudited)

CURRENT ASSETS:

Cash and cash equivalents

$               509

$               477

Accounts receivable, net

3,651

3,680

Prepaid expenses and other current assets

813

987

Total current assets

4,973

5,144

INVESTMENT IN CABLE PROPERTIES:

Property, plant and equipment, net

47,955

46,444

Customer relationships, net

238

440

Franchises

67,471

67,471

Goodwill

29,710

29,710

Total investment in cable properties, net

145,374

144,065

OTHER NONCURRENT ASSETS

5,271

5,004

Total assets

$         155,618

$         154,213

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:

Accounts payable, accrued and other current liabilities

$           12,779

$           12,556

Current portion of long-term debt

999

750

Total current liabilities

13,778

13,306

LONG-TERM DEBT

92,960

94,006

EQUIPMENT INSTALLMENT PLAN FINANCING FACILITY

1,596

1,447

DEFERRED INCOME TAXES

20,237

19,841

OTHER LONG-TERM LIABILITIES

5,146

5,094

SHAREHOLDERS' EQUITY:

Controlling interest

16,952

16,054

Noncontrolling interests

4,949

4,465

Total shareholders' equity

21,901

20,519

Total liabilities and shareholders' equity

$         155,618

$         154,213

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(dollars in millions) 

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Consolidated net income

$        1,524

$        1,495

$        2,887

$        2,904

Adjustments to reconcile consolidated net income to net cash flows from operating activities:

Depreciation and amortization

2,197

2,176

4,408

4,357

Stock compensation expense

138

157

341

379

Noncash interest, net

6

7

12

15

Deferred income taxes

203

(53)

417

(80)

Other, net

(212)

117

(86)

350

Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:

Accounts receivable

(141)

(238)

(136)

(286)

Prepaid expenses and other assets

(3)

66

4

(169)

Accounts payable, accrued liabilities and other

213

(127)

382

366

Net cash flows from operating activities

3,925

3,600

8,229

7,836

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property, plant and equipment

(2,871)

(2,874)

(5,726)

(5,273)

Change in accrued expenses related to capital expenditures

(85)

320

(162)

47

Other, net

(243)

(67)

(285)

(199)

Net cash flows from investing activities

(3,199)

(2,621)

(6,173)

(5,425)

CASH FLOWS FROM FINANCING ACTIVITIES:

Borrowings of long-term debt

4,394

3,723

11,610

5,116

Borrowings of equipment installment plan financing facility

—

112

148

233

Repayments of long-term debt

(4,609)

(3,184)

(12,108)

(4,793)

Payments for debt issuance costs

—

(1)

(30)

(1)

Purchase of treasury stock

(852)

(1,451)

(1,878)

(2,253)

Proceeds from exercise of stock options

11

2

13

19

Purchase of noncontrolling interest

—

(232)

—

(252)

Distributions to noncontrolling interest

(20)

(121)

(22)

(124)

Other, net

327

(44)

212

(213)

Net cash flows from financing activities

(749)

(1,196)

(2,055)

(2,268)

NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

(23)

(217)

1

143

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period

622

866

598

506

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period

$           599

$           649

$           599

$           649

CASH PAID FOR INTEREST

$        1,439

$        1,444

$        2,506

$        2,439

As of June 30, 2026, March 31, 2026, December 31, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, cash, cash equivalents and restricted cash includes $90 million, $105 million, $121 million, $43 million, $70 million and $47 million of restricted cash included in prepaid expenses and other current assets in the consolidated balance sheets, respectively.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 

UNAUDITED SUMMARY OF OPERATING STATISTICS

(in thousands, except per customer and penetration data)

Approximate as of

June 30,
2026 (d)

March 31,
2026 (d)

December 31,
2025 (d)

June 30,
2025 (d)

Footprint

Estimated Passings (e)

58,981

58,661

58,399

57,540

Customer Relationships (f)

Residential

29,276

29,452

29,609

29,819

Small Business

2,223

2,231

2,237

2,241

Total Customer Relationships

31,499

31,683

31,846

32,060

Residential

(176)

(157)

(125)

(95)

Small Business

(8)

(6)

(2)

(5)

Total Customer Relationships Quarterly Net Additions

(184)

(163)

(127)

(100)

Total Customer Relationship Penetration of Estimated Passings (g)

53.4 %

54.0 %

54.5 %

55.7 %

Monthly Residential Revenue per Residential Customer (h)

$   117.52

$   118.44

$     117.19

$   119.70

Monthly Small Business Revenue per Small Business Customer (i)

$   165.27

$   162.71

$     159.85

$   162.91

Residential Customer Relationships Penetration (j)

One Product Penetration

47.4 %

47.7 %

48.0 %

48.7 %

Two Product Penetration

35.1 %

34.8 %

34.5 %

33.8 %

Three or More Product Penetration

17.6 %

17.5 %

17.5 %

17.5 %

Connectivity (k)

Residential

28,306

28,446

28,563

28,705

Small Business

2,069

2,074

2,077

2,076

Total Connectivity Customers

30,375

30,520

30,640

30,781

Residential

(140)

(117)

(95)

(53)

Small Business

(5)

(3)

—

(4)

Total Connectivity Quarterly Net Additions

(145)

(120)

(95)

(57)

Internet

Residential

27,358

27,524

27,641

27,868

Small Business

2,030

2,036

2,039

2,040

Total Internet Customers

29,388

29,560

29,680

29,908

Residential

(166)

(117)

(119)

(111)

Small Business

(6)

(3)

—

(5)

Total Internet Quarterly Net Additions

(172)

(120)

(119)

(116)

Mobile Lines (l)

Residential

12,099

11,714

11,370

10,502

Small Business

441

420

396

354

Total Mobile Lines

12,540

12,134

11,766

10,856

Residential

385

344

406

471

Small Business

21

24

22

20

Total Mobile Lines Quarterly Net Additions

406

368

428

491

Video (m)

Residential

12,010

12,021

12,072

12,087

Small Business

514

524

533

544

Total Video Customers

12,524

12,545

12,605

12,631

Residential

(11)

(51)

49

(73)

Small Business

(10)

(9)

(5)

(7)

Total Video Quarterly Net Additions

(21)

(60)

44

(80)

Voice

Residential

4,494

4,665

4,832

5,161

Small Business

1,200

1,207

1,214

1,225

Total Voice Customers

5,694

5,872

6,046

6,386

Mid-Market & Large Business (n)

Mid-Market & Large Business Primary Service Units ("PSUs")

364

360

357

350

Mid-Market & Large Business Quarterly Net Additions

4

3

3

6

See footnotes on page 7.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES

 UNAUDITED CAPITAL EXPENDITURES

(dollars in millions) 

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Customer premise equipment (o)

$          654

$          593

$        1,322

$        1,066

Scalable infrastructure (p)

336

371

646

664

Upgrade/rebuild (q)

657

457

1,332

852

Support capital (r)

494

425

884

785

Capital expenditures, excluding line extensions

2,141

1,846

4,184

3,367

Subsidized rural construction line extensions

390

543

816

1,010

Other line extensions

340

485

726

896

Total line extensions (s)

730

1,028

1,542

1,906

Total capital expenditures

$        2,871

$        2,874

$        5,726

$        5,273

Capital expenditures included in total related to:

Commercial services

$          293

$          324

$          579

$          597

Subsidized rural construction initiative (t)

$          391

$          545

$          818

$       1,013

Mobile

$            70

$            59

$          129

$          112

Transition (b)

$            34

$            —

$            37

$            —

See footnotes on page 7.

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES 
 FOOTNOTES

(a)

Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other (income) expenses, net and other operating (income) expenses, net such as special charges, merger and acquisition costs and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of our businesses as well as other non-cash or special items, and is unaffected by our capital structure or investment activities.  Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.

(b)

Transition represents incremental costs incurred to prepare for the integration of Cox Communications' operations and to bring systems and processes into a uniform operating structure.

(c)

Other expense excludes stock compensation expense.  Total operating costs and expenses excludes stock compensation expense, depreciation and amortization and other operating (income) expenses, net.

(d)

We calculate the aging of customer accounts based on the monthly billing cycle for each account in accordance with our collection policies.  On that basis, at June 30, 2026, March 31, 2026, December 31, 2025 and June 30, 2025, customers included approximately 84,000, 87,600, 82,300 and 99,400 customers, respectively, whose accounts were over 60 days past due, approximately 10,100, 7,800, 9,700 and 11,600 customers, respectively, whose accounts were over 90 days past due and approximately 13,400, 13,600, 13,600 and 18,900 customers, respectively, whose accounts were over 120 days past due.     

(e)

Passings represent our estimate of the number of units, such as single family homes, apartment and condominium units and small business and mid-market & large business sites passed by our cable distribution network in the areas where we offer the service indicated.  These estimates are based upon the information available at this time and are updated for all periods presented when new information becomes available. 

(f)

Customer relationships include the number of customers that receive one or more levels of service, encompassing Internet, mobile, video and voice services, without regard to which service(s) such customers receive.  Customers who reside in residential multiple dwelling units ("MDUs") and that are billed under bulk contracts are counted based on the number of billed units within each bulk MDU.  Total customer relationships exclude mid-market & large business customer relationships.

(g)

Penetration represents residential and small business customers as a percentage of estimated passings. 

(h)

Monthly residential revenue per residential customer is calculated as total residential quarterly revenue divided by three divided by average residential customer relationships during the respective quarter.

(i)

Monthly small business revenue per small business customer is calculated as total small business quarterly revenue divided by three divided by average small business customer relationships during the respective quarter.

(j)

One product, two product and three or more product penetration represents the number of residential customers that subscribe to one product, two products or three or more products, respectively, as a percentage of residential customer relationships.

(k)

Connectivity customers represent all customers receiving our Internet and/or mobile connectivity services.

(l)

Mobile lines include phones and tablets which require one of our standard rate plans (e.g., "Unlimited" or "By the Gig").  Mobile lines exclude wearables and other devices that do not require standard phone rate plans.

(m)

Video customers only include customers that purchase Spectrum traditional or streaming linear video packages and exclude customers that only purchase streaming applications.

(n)

Mid-market & large business PSUs represents the aggregate number of fiber service offerings counting each separate service offering at each customer location as an individual PSU.

(o)

Customer premise equipment includes equipment and devices located at the customer's premise used to deliver our Internet, video and voice services (e.g., modems, routers and set-top boxes), as well as installation costs.

(p)

Scalable infrastructure includes costs, not related to customer premise equipment or our network, to secure growth of new customers or provide service enhancements (e.g., headend equipment).

(q)

Upgrade/rebuild includes costs to modify or replace existing fiber/coaxial cable networks, including our network evolution initiative.

(r)

Support capital includes costs associated with the replacement or enhancement of non-network assets (e.g., back-office systems, non-network equipment, land and buildings, vehicles, tools and test equipment).

(s)

Line extensions include network costs associated with entering new service areas (e.g., fiber/coaxial cable, amplifiers, electronic equipment, make-ready and design engineering).

(t)

The subsidized rural construction initiative subcategory includes projects for which we are receiving subsidies from federal, state and local governments, excluding customer premise equipment and installation.

SOURCE Charter Communications, Inc.

Caterpillar (CAT +0.59%) is known for its dependable dividend, having raised its payout for more than 30 years. The renowned income investment recently approved another substantial increase. So why is Caterpillar's dividend yield the lowest in its history?

Today's Change

(

0.59

%) $

5.23

Current Price

$

894.54

The construction and heavy machinery manufacturer has seen its stock surge faster than its dividend growth, resulting in a lower yield. Shares of Caterpillar have skyrocketed more than 55% so far this year, and over 110% in the past 12 months as of this writing.

As AI infrastructure build-outs accelerate, so does the demand for construction equipment. The increase in Caterpillar's share price has now left potential investors with a conundrum. The stock is trading at a hefty premium, particularly compared to its historical averages. The 0.75% yield means new investors aren't necessarily buying for the high income as much as for the potential of continued growth.

Image source: Getty Images.

Caterpillar currently pays a quarterly dividend of $1.51 per share. The stock's forward price-to-earnings (P/E) ratio is in the mid-30s, while the trailing P/E sits above 40. New investors will need to be patient over a longer period of time to justify paying a higher price. With that said, Caterpillar is in excellent shape to keep the dividend raises coming for the foreseeable future.

Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Caterpillar. The Motley Fool has a disclosure policy.

Posted by Defense World Staff on Jul 24th, 2026

Bank of Nova Scotia grew its position in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 33.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,052 shares of the software maker’s stock after purchasing an additional 55,584 shares during the period. Bank of Nova Scotia owned 0.08% of Intuit worth $96,876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Joseph Group Capital Management purchased a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in Intuit during the fourth quarter worth approximately $25,000. HHM Wealth Advisors LLC grew its stake in Intuit by 75.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock worth $30,000 after acquiring an additional 30 shares during the period. Whipplewood Advisors LLC purchased a new stake in Intuit in the 1st quarter worth approximately $30,000. Finally, CrossGen Wealth LLC acquired a new position in Intuit in the 1st quarter valued at $32,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Down 1.0% Shares of NASDAQ INTU opened at $281.53 on Friday. The stock has a market capitalization of $77.01 billion, a PE ratio of 17.05, a P/E/G ratio of 1.04 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average of $295.57 and a 200-day moving average of $394.30. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $813.70.

Intuit (NASDAQ:INTU – Get Free Report) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, topping the consensus estimate of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same period last year, the company posted $11.65 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. On average, analysts anticipate that Intuit Inc. will post 18.18 EPS for the current year.

Intuit Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Thursday, July 9th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Thursday, July 9th. Intuit’s dividend payout ratio (DPR) is 29.07%.

Analyst Ratings Changes A number of research analysts have weighed in on INTU shares. Jefferies Financial Group reduced their price target on Intuit from $650.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Freedom Capital lowered Intuit from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. The Goldman Sachs Group downgraded Intuit from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $519.00 to $276.00 in a research report on Tuesday, June 2nd. Citigroup lowered their price target on Intuit from $649.00 to $591.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Finally, Wall Street Zen downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Twenty-one analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $468.84.

Read Our Latest Stock Report on INTU

Intuit News Summary Here are the key news stories impacting Intuit this week:

Positive Sentiment: Intuit launched a new QuickBooks-linked small business credit card with Mastercard, which could deepen engagement with its platform and create a new financial-services growth avenue. Intuit Launches Business Credit Card That Brings Spend Management, Rewards, and Insights Together in QuickBooks Positive Sentiment: Intuit highlighted its AI and telesurgery-style collaboration vision at the Society of Robotic Surgery conference for its broader technology platform, showcasing long-term innovation, though this is not directly tied to INTU’s core business and appears to be unrelated content in the feed. Neutral Sentiment: Multiple law firms urged affected shareholders to contact them before the September lead-plaintiff deadline in the pending securities class action. These reminders are procedural, but they keep the allegations in the spotlight. INTU Investors Have Opportunity to Lead Intuit Inc. Securities Fraud Lawsuit Neutral Sentiment: Intuit’s recent earnings beat and revenue growth remain supportive in the background, but today’s trading appears to be driven more by litigation headlines and analyst sentiment than by operating results. Negative Sentiment: A class action was filed alleging Intuit overstated the health of its tax-related business and TurboTax growth prospects, raising concerns about disclosure risk and potential legal costs. Kessler Topaz Meltzer & Check, LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against Intuit Inc. Negative Sentiment: Market commentary about generative AI disruption fears and a reported analyst downgrade added to investor caution around Intuit’s growth outlook and valuation. Generative AI Disruption Fears Hurt Intuit (INTU) Insider Activity In other news, Director Vasant M. Prabhu bought 1,250 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $309.45 per share, for a total transaction of $386,812.50. Following the acquisition, the director owned 1,250 shares of the company’s stock, valued at $386,812.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard L. Dalzell sold 338 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total transaction of $94,592.68. Following the sale, the director directly owned 12,326 shares of the company’s stock, valued at approximately $3,449,554.36. This trade represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,239 shares of company stock worth $348,354 over the last ninety days. Corporate insiders own 2.49% of the company’s stock.

About Intuit (Free Report)

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

Further Reading Five stocks we like better than Intuit Premium Retail’s Stress Test Is Separating Winners From Losers D-Wave Quantum or a Quantum ETF: Which Is the Better Bet? GE Vernova Just Sent a Mixed AI Signal to Investors Alphabet Crushed Earnings, But One Number Spooked the Market Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU – Free Report).

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The entrance to oilfield service provider SLB’s office, in Houston, Texas, U.S., showing the former Schlumberger's new name and logo is seen in this handout image taken in June 2023.... Purchase Licensing Rights, opens new tab Read more

July 24 (Reuters) - SLB (SLB.N), opens new tab beat expectations for second-quarter profit on Friday, as resilient demand across key markets ​helped the top U.S. oilfield services firm ride out weakness in the Middle ‌East due to the Iran war, sending its shares up 2% before the bell.

Frequent flare-ups in the war, now in its fifth month, have kept a crucial oil-producing region on edge, with Iran ​now seeking to shut the Bab el-Mandeb gateway to the Red Sea after ​choking off shipping through the Strait of Hormuz.

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

The Middle East is ⁠SLB's biggest market, accounting for 34% of total revenue in 2025, and the company ​had warned of a 6 to 8 cents per share hit in the second quarter ​due to the disruptions.

Revenue from the Middle East and Asia dropped 14% to $2.57 billion during the quarter, driven by lower activity and operational disruptions associated with the conflict.

"While activity began to recover in ​certain countries during the second quarter, the timing of a full recovery remains uncertain ​and will depend on a durable resolution of the conflict," CEO Olivier Le Peuch said, adding ‌a return ⁠to full production capacity is expected to take time.

Still, total revenue during the quarter climbed to $8.97 billion, driven by a 36% jump in North America.

Growth in the region was supported by higher offshore activity, a rebound in U.S. shale oil and gas drilling ​activity, as well as ​strong demand for ⁠production and recovery solutions, the company said.

Earlier this week, rival Halliburton (HAL.N), opens new tab, which also beat expectations for quarterly profit, said activity in North ​America will continue to recover with more rigs being added and ​previously idle ⁠equipment put back to work.

The North American oil and gas rig count was 704 during the second quarter, compared with 699 during the same period a year earlier, according to ⁠a ​survey by Baker Hughes.

SLB posted an adjusted profit of ​55 cents per share for the three months ended June 30, compared with analysts' estimate of 51 cents, ​according to data compiled by LSEG.

Reporting by Vallari Srivastava in Bengaluru; Editing by Sriraj Kalluvila

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

Posted by Defense World Staff on Jul 24th, 2026

Andra AP fonden trimmed its stake in Rocket Lab Corporation (NASDAQ:RKLB – Free Report) by 71.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,739 shares of the rocket manufacturer’s stock after selling 38,936 shares during the period. Andra AP fonden’s holdings in Rocket Lab were worth $1,011,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RKLB. Baillie Gifford & Co. increased its stake in Rocket Lab by 47.2% in the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock worth $1,245,317,000 after purchasing an additional 5,725,536 shares during the period. Vanguard Group Inc. grew its holdings in Rocket Lab by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after acquiring an additional 5,610,469 shares in the last quarter. Norges Bank purchased a new position in Rocket Lab during the 4th quarter valued at about $341,036,000. Alliancebernstein L.P. raised its holdings in shares of Rocket Lab by 818.8% in the 3rd quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer’s stock valued at $104,929,000 after purchasing an additional 1,951,755 shares in the last quarter. Finally, Capital World Investors raised its holdings in shares of Rocket Lab by 12.0% in the 4th quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock valued at $1,130,172,000 after purchasing an additional 1,738,623 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth A number of equities analysts have recently issued reports on the stock. KeyCorp upgraded shares of Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research note on Monday, June 15th. Stifel Nicolaus set a $132.00 price objective on shares of Rocket Lab in a research note on Thursday, June 4th. Cantor Fitzgerald restated an “overweight” rating and set a $96.00 price objective on shares of Rocket Lab in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company assumed coverage on shares of Rocket Lab in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.18.

View Our Latest Analysis on RKLB

Insider Buying and Selling at Rocket Lab In other news, CEO Peter Beck sold 990,960 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $82.86, for a total transaction of $82,110,945.60. Following the sale, the chief executive officer directly owned 1,724,221 shares of the company’s stock, valued at $142,868,952.06. The trade was a 36.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Klein sold 36,860 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $147.42, for a total value of $5,433,901.20. Following the completion of the transaction, the insider directly owned 1,006,987 shares in the company, valued at approximately $148,450,023.54. The trade was a 3.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 3,849,294 shares of company stock valued at $362,816,208. Company insiders own 8.40% of the company’s stock.

More Rocket Lab News Here are the key news stories impacting Rocket Lab this week:

Positive Sentiment: Rocket Lab won a $266 million firm-fixed-price U.S. Air Force / Space Force contract for 12 suborbital launches, with options for six more through 2028. Investors see this as validation of its HASTE/Electron launch capability and a meaningful boost to its defense backlog. Rocket Lab Wins $266 Million Suborbital Launch Contract Positive Sentiment: Several analysts and commentators said the contract strengthens Rocket Lab’s long-term investment case by expanding its defense business and providing a concrete revenue catalyst. A $266 Million Reason to Buy Rocket Lab Stock Here Positive Sentiment: Coverage comparing Rocket Lab with Intuitive Machines highlighted growing space-sector investment, broader launch/spacecraft opportunities, and Rocket Lab’s expanding mission capabilities, which supports the bullish long-term narrative. RKLB vs. LUNR: Which Emerging Space Stock Is the Better Pick Today? Neutral Sentiment: Rocket Lab also announced it will report second-quarter 2026 results on August 10, giving investors a near-term event to watch for updates on revenue, margins, and guidance. Rocket Lab Announces Date of Second Quarter 2026 Financial Results Neutral Sentiment: Some recent commentary focused on SpaceX and orbital debris risk, which reflects broader industry concerns but is not a direct company-specific catalyst for RKLB. Negative Sentiment: Despite the contract win, some articles note Rocket Lab has fallen sharply from recent highs, and valuation concerns remain after the stock’s large run-up earlier in the year. Rocket Lab Has Corrected Nearly 50%. Is It Still Too Expensive? Rocket Lab Stock Performance RKLB opened at $69.99 on Friday. Rocket Lab Corporation has a 52-week low of $37.57 and a 52-week high of $151.00. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The company has a market cap of $40.51 billion, a P/E ratio of -218.72 and a beta of 2.54. The firm’s 50-day moving average price is $103.63 and its 200-day moving average price is $87.19.

Rocket Lab (NASDAQ:RKLB – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The firm had revenue of $200.35 million during the quarter, compared to analyst estimates of $189.65 million. During the same period last year, the firm posted ($0.12) EPS. Rocket Lab’s revenue was up 63.4% on a year-over-year basis. As a group, equities analysts anticipate that Rocket Lab Corporation will post -0.26 EPS for the current fiscal year.

About Rocket Lab (Free Report)

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

Recommended Stories Five stocks we like better than Rocket Lab Premium Retail’s Stress Test Is Separating Winners From Losers D-Wave Quantum or a Quantum ETF: Which Is the Better Bet? GE Vernova Just Sent a Mixed AI Signal to Investors Alphabet Crushed Earnings, But One Number Spooked the Market

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The Boston Beer Company, Inc. (SAM) Q2 2026 Earnings Call July 23, 2026 5:00 PM EDT

Company Participants

Michael Andrews - Associate General Counsel & Corporate Secretary
C. Koch - Founder, Chairman, President & CEO
Diego Reynoso - CFO & Treasurer

Conference Call Participants

Filippo Falorni - Citigroup Inc., Research Division
Peter Grom - UBS Investment Bank, Research Division
Eric Serotta - Morgan Stanley, Research Division
Bonnie Herzog - Goldman Sachs Group, Inc., Research Division
William Kirk - ROTH Capital Partners, LLC, Research Division

Presentation

Operator

Greetings, and welcome to the Boston Beer Company's Second Quarter 2026 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

It's now my pleasure to introduce Mike Andrews, Associate General Counsel and Corporate Secretary. Please go ahead.

Michael Andrews
Associate General Counsel & Corporate Secretary

Thank you. Good afternoon, and welcome. This is Mike Andrews, Associate General Counsel and Corporate Secretary of the Boston Beer Company. I'm pleased to kick off our 2026 second quarter earnings call. Joining the call from Boston Beer are Jim Koch, Founder, CEO and Chairman; and Diego Reynoso, our CFO.

Before we discuss our business, I'll start with our disclaimer. As we stated in our earnings release, some of the information we discuss and that may come up on this call reflects the company's or management's expectations or predictions of the future. Such predictions are forward-looking statements. It is important to note that the company's actual results could differ materially from those projected in these forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the company's most recent 10-Q and 10-K. The company does not undertake to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.

I'll now pass over

A prototype of Tesla's Optimus robot. CFOTO/Future Publishing via Getty Images Elon Musk built Tesla into the world's most valuable carmaker. Now he's betting the company's future on a robot that walks on two legs.

Musk predicts its robot, Optimus, could become "the biggest product ever," with legions of the humanoid robots working in factories, doing household chores, and eventually building more robots. He even has a name for them in the plural: "Optimi."

But Tesla has yet to prove the robot can navigate the physical world or perform useful work autonomously, much less that it can be manufactured by the millions.

On Tesla's earnings call this week, Musk offered few details about Optimus and tempered expectations for how quickly production would increase. He said Tesla would begin producing its third-generation robot "soon" in Fremont in the San Francisco Bay Area.

Tesla is competing in an increasingly crowded humanoid market. Agility Robotics, which plans to go public, has deployed its Digit robot across nine customer facilities, while Figure AI has announced deployments in logistics and distribution centers this year. Sunday Robotics, 1X, and Weave Robotics are preparing to ship robots into homes this fall.

Guy Hoffman, an associate professor of mechanical and aerospace engineering at Cornell University who leads its human-robot collaboration lab, called humanoids a "fantasy product."

Autonomous cars took about 20 years to reach the market after the technology was first shown to work, he told Business Insider. Building humanoids is even harder, and a fully autonomous machine has yet to be developed.

"Humanoid robots are a very risky bet," Hoffman said. "I don't see the product having a viable future in the near term."

Tesla's first-generation Optimus production line in Fremont, California.  Tesla Musk has never shied away from moonshot projects. But even he has acknowledged that Optimus is harder to develop than Tesla's Model X, Cybertruck, or gigafactories. If Tesla pulls it off, Musk believes Optimus could usher in "sustainable abundance," a future in which AI and robotics make human labor largely optional.

Tesla did not repond to a request for comment from Business Insider

Here's everything we know about Optimus so far:

From human to humanoidMusk introduced the "Tesla Bot" in 2021 with a person dancing in a robot costume.

Three years later, Optimus robots danced, served drinks, and spoke with guests at Tesla's "We, Robot" event. The robots walked on their own, but more complex movements, such as pouring drinks, handing out desserts, and interacting with attendees, were assisted by remote human operators.

Tesla hasn't yet revealed what the next version of Optimus will look like. All we know is that it stands nearly six feet tall and has a humanlike design, a form that one Silicon Valley investor dismissed to Business Insider as a "parlor trick". Musk has defended humanoids, arguing that robots must resemble people to perform the full range of human tasks.

Chinese companies, including Unitree and UBTech, accounted for about 90% of humanoid shipments last year, according to technology research firm Omdia. Musk has argued that Optimus will be much more sophisticated than its Chinese rivals, but has shared few details so far.

"Optimus is designed to have a lot of intelligence and to have the same electromechanical dexterity, if not higher, than a human," Musk said on a podcast earlier this year. "Unitree does not have that."

Where Optimus stands nowEven though Tesla has not publicly unveiled the next-generation Optimus, it released photos this week of the Fremont production line, where manufacturing is expected to begin soon. Musk previously said that Tesla was keeping the robot under wraps to prevent competitors from copying its design.

Tesla stopped producing the Model S and Model X in Fremont earlier this year to make room for an Optimus line designed to eventually produce a million robots a year. A second line under construction in Austin is planned to have an annual capacity of 10 million robots.

Tesla's first-generation Optimus production line in Fremont, California.  Tesla The first bots will join Tesla's "Optimus Academy," where they will practice tasks and generate data used to improve the AI models that serve as their "brains." Musk has said that 10,000 to 30,000 robots will refine their real-world skills at the academy.

On the company's earnings call this week, AI chief Ashok Elluswamy said that the training could push the robots' capabilities to a "superhuman level."

Musk cautioned investors this week that production will ramp slowly because there is no established supply chain for many Optimus components.

Tesla has three big problems to solveTo make Optimus a reality, Musk says Tesla must solve three problems: intelligence, hands, and mass production.

First, the robot must learn to understand and move through the physical world. Musk believes Tesla's self-driving work gives it a head start because Optimus can use Tesla-designed AI chips and technology developed to help its cars interpret camera footage.

Tesla has adapted its driving simulator, a virtual environment used to train and test its self-driving technology, to train millions of virtual robots. But simulations cannot capture every real-world scenario, so Tesla also needs data from physical tasks. Tesla employees have recorded themselves performing factory jobs, for instance.

Hoffman, the Cornell professor, said Musk is underestimating how much harder humanoid robotics is than self-driving.

"It's like playing checkers versus doing nuclear physics," he said. Humanoids must balance on two legs without falling, he added, and today's AI models are still far from operating reliably in the physical world.

The second challenge is what Musk calls the "hands problem": replicating the human hand with motors, sensors, and software. A robot hand must combine strength, precision, and flexibility in a remarkably small space, making it exceptionally difficult to engineer.

Tesla has not unveiled the latest version of Optimus to prevent competitors from copying its design.  Costfoto/NurPhoto via Getty Images On Tesla's earnings call this week, Musk said Optimus is being designed to have "human and then superhuman dexterity." Achieving that has required Tesla to develop custom motors, gears, and sensors.

The final challenge is scaling up manufacturing. Musk has warned that early production will be "agonizingly slow." But once Tesla starts producing a million robots a year — the timeline for which is still unclear — he estimates each Optimus could cost about $20,000 to $25,000 to produce.

How Optimus fits into Musk's AI empireMusk has increasingly talked about a "convergence" across his business empire, which is becoming more intertwined around AI.

Ahead of and during Tesla's earnings call this week, shareholders and analysts pressed Musk about a rumored merger with SpaceX. Musk wouldn't comment on the speculation, but highlighted the company's synergies, including the Robotaxi and AI businesses.

Musk has previously explained how Optimus could work with SpaceX's technology, which acquired xAI in February. Each robot would have enough computing power to perform some tasks independently, while xAI's Grok could coordinate larger groups, he said.

"Let's say you wanted to build a factory," Musk said earlier this year. "Grok could organize the Optimus robots, assign them tasks to build the factory floor to produce whatever you want."

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Rya is a senior reporter at Business Insider covering physical AI and robotics. She writes about factory automation, humanoid robots, and the race to collect the real-world data needed to bring AI into the physical world. She previously worked at The San Francisco Standard, where she reported on tech culture and autonomous vehicles. She has a bachelor’s degree in history and politics from Pomona College and a master’s in history from the University of Cambridge. Rya lives in San Francisco. Contact her at [email protected] or on Signal at rjetha.07. Use a personal email address, a nonwork WiFi network, and a nonwork device. Here's our guide to sharing information securely.

Robotics Tesla Elon Musk More Electric Vehicles

Verizon Communications Inc. (NYSE:VZ) will release its second quarter earnings report before the opening bell on Friday, July 24.

Analysts expect the New York-based company to report quarterly earnings of $1.27 per share, up from $1.22 per share in the year-ago period. The consensus estimate for Verizon’s quarterly revenue is $35.11 billion. It reported $34.5 billion last year, according to Benzinga Pro.

On June 29, Verizon disclosed that it expects a second-quarter loss of $700 million to $800 million due to the classification of assets from its Contributed Business as assets and liabilities held for sale.

Shares of Verizon fell 1% to close at $43.82 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Considering buying VZ stock? Here’s what analysts think:

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Key Takeaways Major institutional players including Multicoin Capital, Selini Capital, and Galaxy Digital have initiated withdrawals totaling approximately $150M in HYPE tokens The token experienced an 8% decline, touching $58 before finding support at $59.19 Pending withdrawals represent nearly 2x the token’s daily spot trading volume of $72.8M Selini Capital’s withdrawal appears connected to the termination of a HIP-3 perpetuals market operated by DreamCash Multicoin’s managing partner Tushar Jain publicly stated the unstaked tokens aren’t intended for immediate sale; withdrawal completion scheduled for July 28 The HYPE token from Hyperliquid experienced a sharp 8% correction from its recent peak this Wednesday following news that three prominent cryptocurrency investment funds have initiated withdrawal processes for approximately $150 million worth of tokens.

Hyperliquid (HYPE) Price The breakdown shows Multicoin Capital controlling $138.78 million in staked HYPE tokens, with approximately $116 million currently pending withdrawal from the staking protocol. Meanwhile, Selini Capital has queued $4.4 million and Galaxy Digital has initiated a $29.4 million HYPE withdrawal request.

On-chain tracking also revealed that a cryptocurrency wallet associated with Multicoin transferred approximately 167,000 HYPE tokens—valued around $11.2 million—to the Coinbase exchange. HYPE’s price momentarily dipped to $57.39 before stabilizing at $59.19, per CoinGecko data. The 24-hour trading activity exceeded $415 million.

Multicoin-linked wallet moves 490K $HYPE (~$29.48M) in 2 days

A wallet likely belonging to Multicoin Capital just moved 93K $HYPE (~$5.48M) to fresh wallets.

New addresses:
• 0xFA2173AD69De51769d75934AcBCF5C2382B1B7F1
• 0x257F1352204A01f59abC5bc60384Bf4c1e5f8B70

This follows… pic.twitter.com/InfWQIXYFF

— Onchain Lens (@OnchainLens) July 23, 2026

Massive Withdrawal Queue Creates Market Imbalance The sheer magnitude of the $150 million withdrawal request represents almost twice the daily spot market activity for HYPE. Data from Block Liquidity indicates that spot market volume reached only $72.8 million during approximately 28 hours preceding Wednesday’s movements. Market participants included 1,463 distinct buyers versus 982 sellers. Wintermute emerged as the dominant net buyer with purchases exceeding $9 million, while the top net seller disposed of $5.2 million worth of tokens.

Over the trailing seven-day period, HYPE has declined approximately 11%, marking it as the weakest performer within the top 10 cryptocurrencies by market capitalization during this timeframe. ETF monitoring platform CoinGlass registered zero inflows on Wednesday, following Tuesday’s $0.7 million outflow. The token’s Futures Open Interest currently stands at $2.5 billion, reflecting a modest 0.5% decrease over 24 hours.

Technical analyst CryptosBatman highlighted on X that HYPE has breached its 50-day moving average following a six-month sustained rally above this threshold. The analyst identified a developing bearish continuation pattern and projected a subsequent price target of $55, derived from the 1.618 Fibonacci extension level—a price point that coincides with an important support zone.

After a 6-month rally above the 50-day MA, $HYPE has broken down from it.

Not just a usual breakdown, but a bearish continuation has formed as well.

The next target based on the 1.618 Fibonacci extension is $55, right at a support level. pic.twitter.com/mhDl4htYSo

— BATMAN ⚡ (@CryptosBatman) July 23, 2026

Understanding the Institutional Exit Strategy Selini Capital’s withdrawal decision appears directly linked to the closure of DreamCash’s HIP-3 CASH perpetuals market. The protocol architecture requires market operators to stake 500,000 HYPE tokens as collateral, which gets returned upon market termination. Market intelligence suggests Selini Capital may liquidate its HYPE holdings through over-the-counter trading desks.

The rationale behind Multicoin’s substantial unstaking remains more ambiguous. The venture firm recently spearheaded a $1.75 million seed funding round for Trasia, an Asian-focused trading infrastructure planning to introduce perpetual contracts for Asian equity markets on the Hyperliquid platform. Managing partner Tushar Jain clarified on X that the unstaked HYPE tokens weren’t earmarked for immediate liquidation.

The critical July 28 unlock deadline will provide definitive answers regarding the ultimate destination of these substantial token positions.

Currently, HYPE trades beneath its 50-day exponential moving average positioned at $62.52. For bullish momentum to return, the token must recapture the $60.72 level and cross back above the 50-day EMA to improve near-term technical sentiment. The Relative Strength Index hovers around 40 while the MACD indicator persists below the zero line, both technical signals suggesting ongoing bearish pressure.

The 200-day EMA at $50.77 continues to hold as a critical long-term support threshold.

Posted by Defense World Staff on Jul 24th, 2026

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) is expected to post its Q2 2026 results before the market opens on Friday, July 31st. Analysts expect Cameco to announce earnings of $0.31 per share and revenue of $573.7270 million for the quarter. Parties can find conference call details on the company’s upcoming Q2 2026 earning report for the latest details on the call scheduled for Friday, July 31, 2026 at 8:00 AM ET.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same quarter last year, the business posted $0.16 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts expect Cameco to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Cameco Trading Down 1.0% NYSE CCJ opened at $89.47 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. Cameco has a 1-year low of $68.96 and a 1-year high of $135.24. The firm’s fifty day simple moving average is $101.60 and its 200-day simple moving average is $110.66. The company has a market capitalization of $38.97 billion, a PE ratio of 82.85, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02.

Institutional Investors Weigh In On Cameco Several institutional investors and hedge funds have recently made changes to their positions in the company. Mcguire Capital Advisors Inc. bought a new position in Cameco during the 4th quarter valued at about $28,000. Corient Private Wealth LLC increased its holdings in shares of Cameco by 1,339.8% during the fourth quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock worth $88,247,000 after buying an additional 897,558 shares in the last quarter. Alpine Woods Capital Investors LLC raised its stake in shares of Cameco by 57.6% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 9,766 shares of the basic materials company’s stock valued at $893,000 after acquiring an additional 3,568 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Cameco by 9.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,208 shares of the basic materials company’s stock worth $1,025,000 after acquiring an additional 939 shares in the last quarter. Finally, Vident Advisory LLC grew its position in Cameco by 5.5% during the 4th quarter. Vident Advisory LLC now owns 511,768 shares of the basic materials company’s stock worth $46,822,000 after acquiring an additional 26,699 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Ratings Changes CCJ has been the subject of a number of recent research reports. Royal Bank Of Canada raised their price target on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Barclays decreased their target price on Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.18.

Read Our Latest Analysis on Cameco

Cameco Company Profile (Get Free Report)

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

Read More Five stocks we like better than Cameco Premium Retail’s Stress Test Is Separating Winners From Losers D-Wave Quantum or a Quantum ETF: Which Is the Better Bet? GE Vernova Just Sent a Mixed AI Signal to Investors Alphabet Crushed Earnings, But One Number Spooked the Market

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Singapore-based Bitcoin mining pool Poolin and two of its US affiliates filed for Chapter 11 bankruptcy in a New Jersey court on Wednesday.

Poolin’s court filing shows that the mining pool operator has estimated liabilities of $100 million to $500 million, assets of $1 million to $10 million and 10,001 to 25,000 creditors.

Poolin and its affiliates are also seeking court approval to sell two West Texas mining sites to Thor CALAP LLC under a proposed $52 million stalking-horse bid. This includes $37 million for the Tarbush assets, including assumed liabilities, and $15 million for the Pyote site, including the power rights, equipment and all other assets tied to the mining facilities.

The proposed sale would be subject to a court-supervised auction, with a bid deadline of Sept. 8 under the proposed bidding procedures.

Poolin was once the world’s largest Bitcoin mining pool in 2019. It now ranks as the 17th largest mining pool operator by hashrate, with a 0.2% market share, according to Hashrate Index.

Bitcoin miners increasingly turn to restructuring and AIBitcoin mining operations are facing growing financial constraints due to rising electricity costs, forcing some operations to shut down while others are seeking new revenue sources.

In February, NFN8 Group and two of its affiliates filed for Chapter 11 bankruptcy in the Western District of Texas. 

Other miners have sought to diversify into AI infrastructure. In November 2025, Bitfarms initiated a complete wind-down of its Bitcoin mining operations to pivot to AI and high-performance computing data centers.

On Monday, Bitcoin mining companies Hut 8 and IREN announced major AI infrastructure deals. Hut 8 announced a 15-year, $9.8 billion lease for its AI data center campus and IREN disclosed $2.8 billion in cloud services contracts with AI developers. Earlier in July, MARA Holdings announced plans to acquire a Texas site with up to 2 gigawatts of capacity to expand its AI and digital infrastructure business.

Wealth management company Bernstein said that deals with third-party providers, such as Bitcoin miners, will be necessary for AI companies seeking to address the computing power limits of AI data centers.

Magazine: Bitcoin nearing late stages of bear market: Jamie Coutts, Real Vision

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

XRPL Commons Launches Three-Track Grants ProgramXRPL Commons, a nonprofit organization that helps grow the XRP Ledger through developer education, startup support, and community programs, unveiled a new grants structure for teams building on the blockchain. The program is structured across three distinct tracks, each designed to serve a different type of builder.

Early Stage Grants provide milestone-based funding, meaning money is released when teams meet agreed development or growth targets. Applicants need a working product on either testnet or mainnet. A second track targets startups at a more advanced stage, while the third track targets established products already operating on the network. The program combines grants with technical guidance, mentorship, and help bringing products to market.

RippleX amplified the initiative as the ecosystem expands its developer resources. The launch also includes incubator access and migration support for projects moving onto the XRP Ledger from other chains.

$550 Million Invested Since 2017Since 2017, more than $550 million has been deployed directly into XRPL ecosystem initiatives, including non-equity grants, builder incentives, strategic partnerships, and growth programs. Since 2021, these efforts have included hackathons, builder bounties, XRPL Grants, and the XRPL Accelerator, supporting nearly 200 projects worldwide across developer infrastructure, payments, DeFi, tokenization, AI, gaming, e-commerce, carbon markets, and enterprise financial applications.

As the ecosystem matures, the focus is shifting toward expanding access to funding through more distributed and independent pathways. Historically, much of the XRP Ledger ecosystem funding flowed through Ripple-supported initiatives such as XRPL Grants. While those programs remain important, 2026 marks a shift toward a more distributed model, where independent organizations, regional hubs, venture partners, and community-led initiatives play a larger role in supporting builders.

XRPL Commons will continue existing programs such as GLOW and The Aquarium, an incubator located in Paris. Partner organizations supporting ecosystem development include a100x Ventures, Superscrypt, Reforge, New Form Capital, Dragonfly, Pantera, Franklin Templeton, and Tenity.

Sources:
XRPL Commons Unveils New Grants Program to Accelerate XRP Ledger Builder Growth (Bitcoin.com)
Supporting Innovation on the XRP Ledger: What's Changing in 2026 (Ripple)

Posted by Defense World Staff on Jul 24th, 2026

WisdomTree (NYSE:WT – Get Free Report) is projected to announce its Q2 2026 results before the market opens on Friday, July 31st. Analysts expect the company to post earnings of $0.26 per share and revenue of $170.62 million for the quarter. Interested persons can check the company’s upcoming Q2 2026 earning report page for the latest details on the call scheduled for Friday, July 31, 2026 at 11:00 AM ET.

WisdomTree (NYSE:WT – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The firm had revenue of $159.50 million for the quarter, compared to analysts’ expectations of $156.96 million. WisdomTree had a net margin of 11.26% and a return on equity of 33.31%. The business’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, analysts expect WisdomTree to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

WisdomTree Price Performance NYSE:WT opened at $19.76 on Friday. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 48.20 and a beta of 1.18. WisdomTree has a 52-week low of $10.69 and a 52-week high of $21.23. The stock has a fifty day moving average of $18.66 and a 200 day moving average of $16.94. The company has a debt-to-equity ratio of 2.37, a quick ratio of 4.18 and a current ratio of 4.57.

WisdomTree Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Wednesday, May 13th. WisdomTree’s dividend payout ratio is currently 29.27%.

Insider Transactions at WisdomTree In other news, COO R Jarrett Lilien sold 30,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $18.99, for a total transaction of $569,700.00. Following the transaction, the chief operating officer directly owned 1,110,245 shares in the company, valued at approximately $21,083,552.55. This represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David M. Yates sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $18.06, for a total value of $270,900.00. Following the transaction, the insider owned 157,499 shares in the company, valued at approximately $2,844,431.94. The trade was a 8.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WisdomTree A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of WisdomTree by 15.7% during the fourth quarter. Wellington Management Group LLP now owns 11,196,229 shares of the company’s stock valued at $136,482,000 after acquiring an additional 1,521,599 shares during the last quarter. Simcoe Capital Management LLC grew its stake in shares of WisdomTree by 11.3% in the fourth quarter. Simcoe Capital Management LLC now owns 5,253,340 shares of the company’s stock worth $64,038,000 after purchasing an additional 535,015 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in WisdomTree by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,642,042 shares of the company’s stock valued at $44,399,000 after purchasing an additional 61,699 shares during the period. Goldman Sachs Group Inc. increased its holdings in WisdomTree by 116.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,389,653 shares of the company’s stock valued at $41,320,000 after purchasing an additional 1,823,777 shares during the period. Finally, Geode Capital Management LLC increased its holdings in WisdomTree by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,796,512 shares of the company’s stock valued at $34,093,000 after purchasing an additional 26,776 shares during the period. Institutional investors own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth A number of analysts have recently issued reports on the company. Raymond James Financial began coverage on WisdomTree in a research report on Tuesday, April 21st. They set an “outperform” rating and a $20.00 price target for the company. Morgan Stanley upped their price objective on shares of WisdomTree from $18.00 to $20.50 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Weiss Ratings lowered shares of WisdomTree from a “buy (b)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Northland Securities set a $22.00 price target on shares of WisdomTree in a research note on Tuesday, June 2nd. Finally, Oppenheimer increased their price target on shares of WisdomTree from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, WisdomTree currently has a consensus rating of “Moderate Buy” and an average price target of $20.06.

View Our Latest Stock Analysis on WisdomTree

WisdomTree Company Profile (Get Free Report)

WisdomTree Investments, Inc (NYSE: WT) is a U.S.-based asset management firm specializing in exchange-traded funds (ETFs) and exchange-traded products (ETPs). Founded in 2006 by Jonathan Steinberg and headquartered in New York City, WisdomTree has developed a reputation for pioneering smart-beta and fundamentally weighted indexing approaches. The company designs strategies that seek to enhance returns and reduce volatility by weighting constituents based on dividends, earnings or other financial metrics rather than relying solely on market capitalization.

WisdomTree offers a broad suite of investment products covering equities, fixed income, currencies, commodities and digital assets.

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Německému automobilovému koncernu Volkswagen se v prvním pololetí propadl zisk po zdanění o 30,7 procenta na 3,1 miliardy eur (zhruba 75 miliard Kč). Firma, jejíž součástí je i česká Škoda Auto, o tom informovala v dnešní výsledkové zprávě. Provozní zisk v pololetí klesl téměř o 12 procent na 5,9 miliardy eur, zatímco provozní zisk samotné Škody Auto zhruba o šest procent vzrostl a dosáhl téměř 1,4 miliardy eur.

Tržby koncernu Volkswagen v pololetí klesly o 0,2 procenta na 158,1 miliardy eur. Podnik dnes uvedl, že v celém letošním roce počítá s poklesem tržeb až o tři procenta. V předchozím výhledu přitom očekával až tříprocentní růst.

Volkswagen se v poslední době potýká s řadou problémů, včetně vysokých nákladů, nadbytečných kapacit, rostoucí čínské konkurence nebo amerických cel. "Podmínky v automobilovém průmyslu zůstávají mimořádně náročné: geopolitické krize, obchodní konflikty, vysoké regulační požadavky, výkyvy na trzích a rostoucí konkurence," uvedl koncernový šéf Oliver Blume

Volkswagen teď chystá rozsáhlou restrukturalizaci aktivit zahrnující drastické omezení výroby. Podle nedávné zprávy agentury Reuters by v koncernu mohlo v příštích letech zaniknout až 140 000 pracovních míst. Na konci loňského roku koncern podle výroční zprávy zaměstnával kolem 663 000 lidí.

Škoda Auto nicméně tento měsíc uvedla, že restrukturalizační plán koncernu nemá přímý dopad na její aktivity. Škoda Auto patří mezi největší zaměstnavatele v České republice, kde provozuje tři výrobní závody a má zhruba 36 500 zaměstnanců včetně agenturních.

Šéf koncernu Blume dnes v rozhovoru s agenturou DPA řekl, že chce plánovaný úsporný balík přijmout ještě do konce letošního roku. Návrhem se před dvěma týdny poprvé zabývala dozorčí rada. "Měli jsme tam konstruktivní, ale i kontroverzní diskusi," řekl Blume.

Podle DPA narazil plán na odpor především u zástupců zaměstnanců a spolkové země Dolní Sasko, v níž Volkswagen sídlí a která drží v koncernu pětinový podíl. Součástí plánu je mimo jiné zrušení dalších 50 000 pracovních míst nad už dohodnutých 50 000. Další zasedání dozorčí rady by se mělo uskutečnit v září. Podle Blumeho jsou ale navrhovaná opatření tak obsáhlá, že bude potřeba o nich jednat i na dalších zasedáních.

"Jsem ale pevně přesvědčen, že to budeme muset udělat ještě letos," dodal šéf koncernu.

Posted by Defense World Staff on Jul 24th, 2026

Gates Industrial (NYSE:GTES – Get Free Report) will likely be announcing its Q2 2026 results before the market opens on Friday, July 31st. Analysts expect Gates Industrial to post earnings of $0.40 per share and revenue of $925.4410 million for the quarter. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Individuals are encouraged to explore the company’s upcoming Q2 2026 earning report for the latest details on the call scheduled for Friday, July 31, 2026 at 10:00 AM ET.

Gates Industrial (NYSE:GTES – Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. On average, analysts expect Gates Industrial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Gates Industrial Stock Down 1.4% Shares of NYSE GTES opened at $27.02 on Friday. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 28.14 and a beta of 1.25. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. Gates Industrial has a 52-week low of $20.88 and a 52-week high of $29.17. The business’s 50 day moving average is $26.42 and its two-hundred day moving average is $25.24.

Institutional Inflows and Outflows Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in Gates Industrial by 5.9% during the 4th quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock worth $178,687,000 after purchasing an additional 461,160 shares during the period. Corient Private Wealth LLC raised its position in Gates Industrial by 9.3% in the 4th quarter. Corient Private Wealth LLC now owns 190,929 shares of the company’s stock valued at $3,890,000 after purchasing an additional 16,219 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Gates Industrial in the 4th quarter valued at about $402,000. Mackenzie Financial Corp boosted its stake in shares of Gates Industrial by 17.7% in the 4th quarter. Mackenzie Financial Corp now owns 844,064 shares of the company’s stock valued at $18,381,000 after buying an additional 126,847 shares during the period. Finally, XTX Topco Ltd grew its position in shares of Gates Industrial by 529.5% during the fourth quarter. XTX Topco Ltd now owns 255,562 shares of the company’s stock worth $5,487,000 after buying an additional 214,965 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth A number of equities research analysts have recently weighed in on GTES shares. Robert W. Baird dropped their price objective on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th. Morgan Stanley raised their target price on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Wall Street Zen downgraded Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Barclays cut their price target on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.36.

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Gates Industrial Company Profile (Get Free Report)

Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.

In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.

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Equinor ASA (NYSE:EQNR) reported higher second-quarter earnings and production, with Chief Financial Officer Torgrim Reitan saying the company is executing in line with plans presented at its recent Capital Markets Day to grow energy output, cash flow and returns through 2030.

Reitan said Equinor produced 2.165 million barrels of oil equivalent per day in the quarter, up 3% from the same period last year. Adjusted operating income totaled $11.5 billion before tax, while IFRS net income was $4.8 billion. Adjusted earnings per share were $1.33. Cash flow from operations after tax reached $13.7 billion year to date.

“While energy markets remain impacted by geopolitical unrest, we continue to focus on what we control, our operations, how we remain robust through price cycles, and our commitment to cost and capital discipline,” Reitan said.

Production Growth Driven by Norway and New Fields Reitan said production on the Norwegian continental shelf rose 4%, driven by new fields including Johan Castberg, Halten East and Verdande, with Eirin and Symra also coming on stream during the quarter. He highlighted another strong quarter from Johan Sverdrup, where Equinor now expects the annual decline to be at the low end of its previously indicated 10% to 20% range.

Production was affected by turnarounds, maintenance and a temporary outage at Johan Castberg. In response to an analyst question, Reitan said issues related to turbine waste heat took 18 days to resolve, and the field resumed production on July 13. He said the impact to Equinor in the third quarter would be about 14,000 barrels per day.

Internationally, production growth was supported by Adura in the U.K. and Bacalhau in Brazil, offsetting lower ownership in Peregrino and the divestment of onshore Argentina assets. Reitan said first-half production growth totaled 6%, making the company’s full-year guidance of 3% growth “more robust,” though Equinor left its production guidance unchanged.

Financial Results Lifted by Prices, Trading and Refining Equinor said liquids and European gas prices were higher than the same quarter last year, while U.S. gas prices were lower. Adjusted operating income in E&P Norway was $9.2 billion before tax and $2.1 billion after tax. In international E&P, Reitan said operating income nearly doubled on 4% production growth and an improved portfolio.

The company’s Marketing, Midstream and Processing segment delivered $777 million in pretax income, well above its $400 million-per-quarter guidance. Reitan attributed the performance to crude trading and strong results at the Mongstad refinery, which benefited from higher margins. He said European refinery product markets were tight, with FCC margins around $25 per barrel in the second quarter, and that Mongstad continued to deliver strong results early in the third quarter.

Power results reflected a strong contribution from power trading for a second consecutive quarter. Equinor produced 1.2 terawatt-hours of power in the quarter, with growth from Dogger Bank in the U.K. and new onshore assets.

Cash Flow, Divestments and Shareholder Returns Cash flow from operations before tax was $14.8 billion in the quarter. Equinor paid $7.1 billion in taxes, including three Norwegian continental shelf installments totaling about $6.4 billion. Organic capital expenditure was $3.4 billion, and net cash flow before distributions was positive $5.5 billion.

The company distributed $1.1 billion to shareholders during the quarter. Its board approved an ordinary cash dividend of $0.39 per share and a third tranche of share buybacks of up to $1.125 billion, including the Norwegian state’s share.

Reitan said Equinor ended the quarter with about $24 billion in cash and cash equivalents, while its net debt ratio declined to 10.4%. At current forward prices, he said the company expects the net debt ratio to be somewhat below 10% at year-end.

Equinor also recorded proceeds from portfolio actions. The sale of Argentina onshore assets generated $558 million in proceeds during the quarter, in addition to $88 million received in the first quarter, and Equinor recorded a $467 million gain. A partial divestment of its financial position in Scatec generated $171 million in proceeds and an accumulated recorded gain of $61 million.

Gas Market Outlook and Capital Allocation Asked about European natural gas markets, Reitan described the situation as “vulnerable” heading into autumn and winter, citing uncertainty around LNG flows and European storage levels. He said storage was 53% full, more than 15 percentage points below average, and that Equinor does not expect Europe to reach 80% storage before winter.

Reitan said Equinor is already producing gas at maximum levels in the short term, but can optimize flows through its production and transportation system toward markets where gas is most needed and prices are highest. He said Equinor keeps its natural gas exposure floating, with 70% linked to day-ahead prices and 30% to month-ahead prices.

On whether strong cash flow could lead to share buybacks above the $3 billion now planned for the year, Reitan said no. He said additional cash has been directed toward increasing oil and gas investments by $1 billion, strengthening the balance sheet and doubling the share buyback program for the year.

Project Pipeline and Cost Focus Reitan pointed to several projects supporting future growth, including the ramp-up of Bacalhau, which he said is expected to reach plateau by year-end. He also cited Raia in Brazil, Sparta in the Gulf of Mexico, Rosebank and Jekta in the U.K., and the recently sanctioned Greater PAJ project in Angola.

On Bay du Nord in Canada, Reitan said BP is handing its ownership to Equinor and that the timeline remains unchanged, with a sanctioning target in 2027. He said Equinor is working to bring in another partner and described the project as supported by the Canadian government.

Reitan said Equinor continues to manage cost inflation through portfolio-level contracting, standardization and simplification. He said the company’s new developments have a break-even below $40 per barrel and that its NCS 2035 operating model aims to double development speed and cut costs by half across a portfolio of projects.

Equinor left its guidance unchanged for production, capital spending and capital distribution, with Reitan saying the quarter demonstrated progress toward the company’s stated objectives of increasing production by 150,000 barrels per day to 2030, growing cash flow from operations by 30% and targeting a 15% return on capital employed through the decade.

About Equinor ASA (NYSE:EQNR) Equinor ASA (NYSE: EQNR) is a Norway-based integrated energy company headquartered in Stavanger. Historically established as Statoil in the 1970s to develop Norway’s petroleum resources, the company changed its name to Equinor in 2018 to reflect a strategic shift toward a broader energy portfolio. Equinor’s operations span the full upstream value chain, including exploration, development and production of oil and natural gas, alongside trading and marketing activities that support its global commercial operations.

In recent years Equinor has pursued a transition strategy that combines continued development of conventional oil and gas resources with growing investments in low‑carbon energy.

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Today, McDonald's Board of Directors declared a quarterly cash dividend of $1.86 per share of common stock payable on September 16, 2026 to shareholders of record at the close of business on September 1, 2026.

Upcoming Communications

For important news and information regarding McDonald's, including the timing of future investor conferences and earnings calls, visit the Investor Relations section of the Company's Internet home page at www.investor.mcdonalds.com. McDonald's uses this website as a primary channel for disclosing key information to its investors, some of which may contain material and previously non-public information.

About McDonald's

McDonald's is the world's leading global foodservice retailer with over 45,000 locations in over 100 countries. Approximately 95% of McDonald's restaurants worldwide are owned and operated by independent local business owners.

Forward-Looking Statements

This document contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from expectations are detailed in the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-Q filing for the quarter ended March 31, 2026. The Company undertakes no obligation to update such forward-looking statements, except as may otherwise be required by law.

SOURCE McDonald's Corporation

Also from this source

SLB N.V. (NYSE:SLB) will release its second quarter earnings report before the opening bell on Friday, July 24.

Analysts expect the Houston, Texas-based company to report quarterly earnings of 52 cents per share, down from 74 cents per share in the year-ago period. The consensus estimate for SLB quarterly revenue is $8.68 billion. It reported $8.55 billion last year, according to Benzinga Pro.

On July 14, SLB announced an agreement with Liberty Energy Inc. (NYSE:LBRT) to form a strategic alliance for data center infrastructure and power.

SLB shares fell 0.9% to close at $47.22 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Considering buying SLB stock? Here’s what analysts think:

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July 23, 2026 16:05 ET  | Source: Virtu Financial, LLC

NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NYSE: VIRT) (the “Company”), a global market maker, broker and leading provider of global financial services technology, today announced that its subsidiaries successfully priced and closed incremental term loans in the amount of $500 million (the “Incremental Term Loans”), increasing the total term loan balance under its senior secured credit facility to $2,030 million (the “Term Loans”).

The Incremental Term Loan, along with the existing Term Loans, will bear interest at Term SOFR + 250 basis points, and will be issued at par.

The proceeds of the Incremental Term Loan may be used for general corporate purposes. The Term Loans are guaranteed by Virtu Financial LLC, a subsidiary of the Company, and certain of its subsidiaries.

About Virtu Financial, Inc.

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

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements are subject to numerous uncertainties and factors relating to the Company’s operations and business environment, as well as uncertainties relating to the Term Loans. Any forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized.

CONTACT         

Investor Relations
Matthew Sandberg
[email protected]

July 23, 2026 16:05 ET  | Source: Wintrust Financial Corporation

ROSEMONT, Ill., July 23, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of Wintrust Financial Corporation (“Wintrust” or the “Company”) (Nasdaq: WTFC) has approved a quarterly cash dividend of $0.55 per share of outstanding common stock. The dividend is payable on August 20, 2026, to shareholders of record as of August 6, 2026.

Additionally, the Company’s Board of Directors approved a cash dividend on outstanding shares of the Company’s 7.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F. The dividend is payable on October 15, 2026, to shareholders of record as of October 1, 2026.

About Wintrust

Wintrust is a financial holding company with $74.7 billion in assets whose common stock is traded on the Nasdaq Global Select Market. Guided by its “Different Approach, Better Results®” philosophy, Wintrust offers the sophisticated resources of a large bank while providing a community banking experience to each customer. Wintrust operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. In addition, Wintrust operates various non-bank business units, providing residential mortgage origination, wealth management, commercial and life insurance premium financing, short-term accounts receivable financing/outsourced administrative services to the temporary staffing services industry, and qualified intermediary services for tax-deferred exchanges. For more information, please visit wintrust.com.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Wintrust's expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" and the forward-looking statement disclosure contained in Wintrust's Annual Report on Form 10-K for the most recently ended fiscal year and in Wintrust’s subsequent Quarterly Report on Form 10-Q. Forward-looking statements speak only as of the date made and Wintrust undertakes no duty to update the information.

FOR MORE INFORMATION CONTACT:
David A. Dykstra, Vice Chairman & Chief Operating Officer
(847) 939-9000
Amy Yuhn, Executive Vice President, Communications
(847) 939-9591
Website address: www.wintrust.com

Summit Therapeutics Inc. (SMMT) Q2 2026 Earnings Call July 23, 2026 4:30 PM EDT

Company Participants

Dave Gancarz - Chief Business & Strategy Officer
Robert Duggan - Co-CEO & Executive Chairman
Mahkam Zanganeh - Co-CEO, President & Director
Manmeet Soni - COO, CFO & Director
Allen Yang - Chief R&D Strategy Officer

Conference Call Participants

Yigal Nochomovitz - Citigroup Inc., Research Division
Nicholas Lorusso - TD Cowen, Research Division
Salveen Richter - Goldman Sachs Group, Inc., Research Division
Bradley Canino - Guggenheim Securities, LLC, Research Division
William Zhang - Wells Fargo Securities, LLC, Research Division
David Dai
Reni Benjamin - Citizens JMP Securities, LLC, Research Division
Eric Schmidt - Cantor Fitzgerald & Co., Research Division
Dara Azar - Stifel, Nicolaus & Company, Incorporated, Research Division
Faisal Khurshid - Jefferies LLC, Research Division

Presentation

Operator

Good afternoon, and welcome to Summit Therapeutics Q2 2026 Earnings Call. [Operator Instructions] We do not expect any technical difficulties today. However, in the event that we lose the webcast connection and are unable to provide any updates, please wait up to 10 minutes for resolution. Please refer to the company's website for updates. Please note that today's call is being recorded. [Operator Instructions]

At this time, I would like to turn the call over to Dave Gancarz, Summit Therapeutics Chief Business and Strategy Officer. You may proceed.

Dave Gancarz
Chief Business & Strategy Officer

Good afternoon, and thank you for joining us. On today's call, we will provide an update on our second quarter 2026 financial results and operational progress. This afternoon's press release is available on our website, www.smmttx.com. Our Form 10-Q was also filed today and is available on our website and via the SEC's website. Today's call is being simultaneously webcast, and an archived replay will also be made available later today on our website.

Joining me on the call today is Bob

Alphabet (GOOG -6.88%)(GOOGL -7.12%) gave investors plenty to debate in its second-quarter report this week, from 24% revenue growth to another big increase in its capital spending plans. But I'd argue the most remarkable number sat in the company's quarterly filing with the Securities and Exchange Commission. Alphabet's stake in rocket maker SpaceX (SPCX +2.58%) was worth about $94 billion as of June 30.

Zoom out, and the history behind that figure is extraordinary. In January 2015, Google and investment firm Fidelity together put $1 billion into SpaceX for a combined stake of just under 10%. SpaceX now carries a $1.5 trillion market value -- about 150 times what the entire company was worth in that funding round.

But Alphabet can't spend a dollar of its windfall yet. The filing shows the whole position is restricted from sale. About $80 billion of the stake sits under short-term restrictions (the standard lockup period that follows an initial public offering), and the remaining $14.1 billion is locked up through the third quarter of 2027.

Here's a closer look at what the stake means for shareholders on both sides of it.

Image source: Getty Images.

A windfall on paper The stake did wonders for Alphabet's reported profit. Second-quarter net income rose 298% year over year to $112.1 billion, and earnings per share climbed 294% to $9.11.

The driver wasn't advertising or cloud computing. It was a $99.0 billion gain on equity securities, which the company said primarily reflected unrealized gains from SpaceX and a private company (reported to be artificial intelligence (AI) developer Anthropic).

Unrealized is the key word. Alphabet didn't collect $99 billion in cash. It marked up shares it isn't currently allowed to sell.

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That distinction helps explain why investors mostly shrugged at the windfall and focused on spending instead. Alongside the report, Alphabet raised its capital spending guidance for 2026 to $195 billion to $205 billion, from the $180 billion to $190 billion range it set in April. Free cash flow swung to negative $5.9 billion for the quarter, down from a positive $10.1 billion in the first quarter. Also worth noting: the company raised $49.6 billion in June by selling new stock, all while sitting on $94 billion of SpaceX shares it can't touch. After all, locked-up paper gains don't fund data centers.

Shares of Alphabet were down about 7% Thursday afternoon as of this writing.

Of course, the stake still matters. It amounts to about 2.4% of Alphabet's roughly $3.9 trillion market capitalization -- a nice bonus for shareholders, but not the reason to own the stock.

The other side of the trade For SpaceX shareholders, the disclosure sends two messages at once.

The first is a vote of confidence. Alphabet has held on for more than a decade, and it still owns an effective stake of about 4.9% of the company, down from about 6% before recent dilution. An investor of Alphabet's caliber keeping a position this large is arguably part of the bull case.

The second message is about supply. SpaceX stock has had a rough public debut. Shares went public at $135 in June, peaked at $225.64, and trade at about $116 as of this writing -- a decline of nearly 49% from the high.

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And the restrictions on Alphabet's stake begin easing after SpaceX delivers its first earnings report, scheduled for Aug. 4. Alphabet hasn't said anything about selling. But an outside holder with $94 billion of stock and a spending plan of its own approaching $200 billion at least has reasons to consider it once it's allowed.

Also, SpaceX shares have fallen since June 30, so the stake is already worth less than the filing's mark. Paper gains move in both directions.

So what should investors do with the news? For Alphabet shareholders, I'd treat the SpaceX windfall as exactly that -- a windfall. The investment case still rests on the operating business (where revenue grew 24% year over year last quarter and Google Cloud is accelerating) and on whether the company's enormous AI spending pays off.

For anyone eyeing SpaceX stock, though, the filing is worth remembering. The company is still losing money, its market value sits near $1.5 trillion, and one outside holder alone is sitting on $94 billion of stock it will soon be free to sell. Between the two stocks, I'd rather own the shareholder than the rocket maker.