Track market-moving stories before they get noisy

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Target (TGT - Free Report) Founded in 1902, Target Corporation offers guests fashionable, differentiated merchandise and everyday essentials at discounted prices. Its assortment spans the company’s core merchandise categories, including Apparel & Accessories, Beauty, Food & Beverage, Hardlines, Home Furnishings & Décor, and Household Essentials. Target enables guests to purchase products seamlessly in stores or through its digital channels, and it leverages stores as fulfillment hubs. In addition to merchandise sales, Target generates revenues from other sources, most notably advertising revenues and credit card profit-sharing income. Other capabilities include Roundel, Target Plus and membership fees, including paid Target Circle 360. Target’s Shipt subsidiary facilitates delivery services, including same-day delivery to guests.

TGT is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 15.77; value investors should take notice.

14 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2027. The Zacks Consensus Estimate has increased $2.09 to $10.43 per share. TGT boasts an average earnings surprise of +10.5%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, TGT should be on investors' short list.

, /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality" or the "Company") (Nasdaq: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, today announced the launch of an underwritten, secondary offering (the "Offering") of 13,000,000 shares (the "Shares") of its common stock, par value $0.0001 per share (the "Common Stock"), subject to market and other conditions. The Shares are being offered by Arrow Holdings S.à r.l. and MFA Global S.à r.l. (collectively, the "Selling Stockholders"), entities controlled by TDR Capital LLP, acting in its capacity as investment fund manager. The Company is not offering any shares in the Offering and will not receive any of the proceeds from the Offering. The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 1,950,000 shares of Common Stock.

Additionally, subject to the completion of the Offering, the Company intends to purchase from the underwriters shares of its Common Stock (the "Repurchase Shares") that are subject to the Offering with an aggregate purchase price of up to $30,000,000, at a price per share equal to the price per share to be paid by the underwriters to the Selling Stockholders in the Offering (the "Stock Repurchase"). The completion of the Stock Repurchase is expected to occur concurrently with the closing of the Offering. The Repurchase Shares will be held by the Company as treasury shares following the completion of the Stock Repurchase. The Company expects to fund the Stock Repurchase with cash on hand together with borrowings under its ABL Credit Facility.

Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are acting as book-running managers for the Offering.

The Offering is being made pursuant to an effective shelf registration statement on Form S-3, including a base prospectus, that was initially filed with the Securities and Exchange Commission (the "SEC") on April 10, 2019 and subsequently declared effective by the SEC on May 16, 2019 and is available on the SEC's website at www.sec.gov. The Offering may only be made by means of a prospectus supplement and the accompanying prospectus that will form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to the Offering will be filed with the SEC and will be available on the SEC's website. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Deutsche Bank Securities Inc., Attn: Prospectus Department, 1 Columbus Circle, New York, NY 10019, by telephone at (800) 503-4611, or by email at [email protected]; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at [email protected] and [email protected].

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities of the Company in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements made in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: operational, economic, including inflation, political and regulatory risks; our ability to effectively compete in the specialty rental accommodations and hospitality services industry, including growing the HFS - South, Workforce Hospitality Solutions and Government segments; our ability to execute, expand, and manage WHS projects supporting critical mineral development, power generation, and data center infrastructure projects, including risks related to construction execution, permitting, labor availability, and timely completion of community buildouts; our ability to achieve margin improvement through the effective servicing of contracts in our WHS segment; effective management, utilization, and performance, of our communities (including workforce hubs); natural disasters and other business disruptions including outbreaks of epidemic or pandemic disease; the duration of any future public health crisis, related economic repercussions and the resulting negative impact to global economic demand; the effect of changes in state building codes on marketing our buildings; changes in demand within a number of key industry end-markets and geographic regions, including natural resources, critical minerals, and data center/AI infrastructure; changes in customer capital spending, project schedules, or end-user demand that may result in delays, non-renewals, or cancellations of contracts, including the contract that is terminable for convenience in the Government segment; our reliance on third party manufacturers, suppliers and service providers; our ability to attract and retain key personnel and maintain workforce availability for specialized hospitality and construction operations; increases in raw material, food, labor or other operating costs; the effect of impairment charges on our operating results; our future operating results fluctuating, failing to match performance or to meet expectations; our exposure to various possible claims and the potential inadequacy of our insurance coverage; unanticipated changes in our tax obligations; our obligations under various laws and regulations, including those applicable to government contracts; the effect of litigation, judgments, orders, regulatory or customer bankruptcy proceedings on our business; our ability to successfully acquire and integrate new operations; global, national or local economic and political developments, including any changes in policy under the current or any future U.S. presidential administrations; federal government budgeting and appropriations; our ability to effectively manage our credit risk and collect on our accounts receivable; our ability to fulfill Target Hospitality's public company obligations; cybersecurity threats, incidents, or failures of our management information systems; and risks related to our liquidity, access to capital markets, and obligations under existing or future debt agreements, including compliance with financial covenants. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact Information

Investor Contact:
Mark Schuck
(832) 702 – 8009
[email protected]

SOURCE Target Hospitality

Delta Air Lines (DAL - Free Report) closed at $78.96 in the latest trading session, marking a -1.51% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.58% for the day. At the same time, the Dow lost 1.18%, and the tech-heavy Nasdaq lost 0.32%.

Heading into today, shares of the airline had lost 10.13% over the past month, lagging the Transportation sector's loss of 3.23% and the S&P 500's loss of 0.36%.

Investors will be eagerly watching for the performance of Delta Air Lines in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.03, reflecting a 18.71% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $17.67 billion, reflecting a 6% rise from the equivalent quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.23 per share and revenue of $66.58 billion, indicating changes of +7.04% and +5.08%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for Delta Air Lines. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.7% downward. Currently, Delta Air Lines is carrying a Zacks Rank of #3 (Hold).

In terms of valuation, Delta Air Lines is presently being traded at a Forward P/E ratio of 12.87. This valuation marks a premium compared to its industry average Forward P/E of 11.24.

It is also worth noting that DAL currently has a PEG ratio of 1.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. DAL's industry had an average PEG ratio of 0.75 as of yesterday's close.

The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 209, putting it in the bottom 16% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

ExxonMobil Holdings Corporation ("ExxonMobil") (NYSE: XOM) today announces that its wholly owned subsidiary, Pioneer Natural Resources Company (the "Offeror") is offering to purchase for cash any and all of its outstanding $1,100,000,000 1.900% Senior Notes due 2030 (the “2030 Notes”) and $1,000,000,000 2.150% Senior Notes due 2031 (the “2031 Notes”, and together with the 2030 Notes, the “Notes”).

Holders will receive a price equal to the Total Consideration based on the applicable Reference Yield and the applicable Fixed Spread plus Accrued Interest (each as defined below) (in the case of each of the 2030 Notes and the 2031 Notes, a "Tender Offer" and together, the “Tender Offers”).

Each Tender Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated September 8, 2026 (the "Offer to Purchase"). Terms not defined in this announcement have the meanings given to them in the Offer to Purchase.

Upon the terms and subject to the conditions set forth in the Offer to Purchase, the Offeror is offering to purchase any and all of the Notes, as set forth in the table below. Notes purchased in the Tender Offers will be cancelled. Neither Tender Offer is conditioned on any minimum principal amount of Notes being tendered. The consummation of each Tender Offer is subject to, and conditioned upon, the satisfaction or waiver, where permitted, of the conditions discussed in the Offer to Purchase.

Title of Notes

Principal Amount

Outstanding

ISIN/CUSIP

Reference Security(1)

Fixed Spread(1)

Bloomberg Reference

Page

1.900% Senior Notes due 2030

$1,100,000,000

ISIN NO. US723787AQ06

CUSIP NO. 723787 AQ0

4.375% UST due August 31, 2031

30 bps

FIT1

2.150% Senior Notes due 2031

$1,000,000,000

ISIN NO. US723787AR88

CUSIP NO. 723787 AR8

4.375% UST due August 31, 2031

35 bps

FIT1

(1)

The "Total Consideration" per $1,000 principal amount of Notes of each series validly tendered at or prior to the Expiration Date and not validly withdrawn and accepted for purchase will be calculated as described in the Offer to Purchase using the applicable Fixed Spread. See "Description of the Tender Offers—Total Consideration" in the Offer to Purchase. The Total Consideration does not include accrued and unpaid interest on such Notes from the last interest payment date with respect to such Notes to, but not including, the Settlement Date (the "Accrued Interest"), which will be paid in addition to the Total Consideration.

Each Tender Offer will expire at 5:00 p.m., New York City time, on September 14, 2026, unless extended or earlier terminated (such date and time, as the same may be extended or earlier terminated, the "Expiration Date"). Holders who desire to participate in the Tender Offers must validly tender their Notes at or prior to the applicable Expiration Date. Tenders of Notes may be validly withdrawn at any time on or prior to the applicable Expiration Date but tenders will thereafter be irrevocable, except in certain limited circumstances where additional withdrawal rights are required by law.

Neither Tender Offer is conditioned on any minimum principal amount of Notes being tendered. Notes may be tendered only in principal amounts equal to the minimum denomination of $1,000 and integral multiples of $1,000 in excess thereof.

Upon the terms and subject to the conditions set forth in the Offer to Purchase, Holders who validly tender and who do not validly withdraw Notes at or prior to the applicable Expiration Date and whose Notes are accepted for purchase by the Offeror will receive the "Total Consideration". The Total Consideration payable for the Notes will be a price per $1,000 principal amount of Notes, calculated with reference to the Settlement Date, that would reflect a yield to the applicable maturity date of such Notes equal to the sum of (i) the applicable Reference Yield determined at the Price Determination Time, plus (ii) the applicable Fixed Spread. The Total Consideration payable for each of the 2030 Notes and the 2031 Notes will be determined as set out in the calculation in Schedule A to the Offer to Purchase.

The "Reference Yield" means the bid side yield to maturity, determined in accordance with market convention, of the applicable Reference Security, based on the bid price for the applicable Reference Security as reported on the applicable Bloomberg Reference Page at the Price Determination Time. The sum of the applicable Fixed Spread and the applicable Reference Yield is referred to as the "Repurchase Yield".

The "Price Determination Time" is expected to be 2:00 p.m., New York City time, on September 14, 2026.

In addition to the Total Consideration, Holders whose Notes are accepted for purchase will be paid the Accrued Interest on the Settlement Date. Interest will cease to accrue on the Settlement Date for all Notes accepted in either Tender Offer. The Settlement Date will promptly follow the Expiration Date and is expected to be September 16, 2026, which is the second business day after the Expiration Date, unless extended.

Holders are advised to check with any bank, securities broker or other intermediary through which they hold their Notes as to when such intermediary needs to receive instructions from a Holder in order for that Holder to be able to participate in either Tender Offer before the deadlines specified herein and in the Offer to Purchase. The deadlines set by any such intermediary and the Depository Trust Company for the submission and withdrawal of tender instructions will also be earlier than the relevant deadlines specified herein and in the Offer to Purchase.

The results of each Tender Offer are expected to be announced promptly following the Expiration Date. This press release will be available on https://corporate.exxonmobil.com/. Copies of the Offer to Purchase are available to holders of the Notes ("Holders") through the Tender and Information Agent, Global Bondholder Services Corporation at its website https://www.gbsc-usa.com/pioneer/ or by calling (212) 430-3774 (bank and brokers call collect) or (855) 654-2014 (all others please call toll-free).

The Dealer Manager for each Tender Offer is:

Citigroup
388 Greenwich Street, 4th Floor
New York, NY 10013
Toll-Free: +1 (800) 558-3745
Collect: +1 (212) 723-6106
Email: [email protected]
Attention: Liability Management Group

The Tender and Information Agent for each Tender Offer is:
Global Bondholder Services Corporation
65 Broadway – Suite 404
New York, New York 10006 Attn: Corporate Actions

Bank and Brokers Call Collect: (212) 430-3774
All Others Please Call Toll Free: (855) 654-2014
E-mail: [email protected]
Tender Offer Website: https://www.gbsc-usa.com/pioneer/

Non-U.S. Distribution Restrictions

United Kingdom. The communication of this announcement, the Offer to Purchase and any other documents or materials relating to either Tender Offer is not being made by and such documents and/or materials have not been approved by an "authorised person" for the purposes of section 21 of the Financial Services and Markets Act 2000 (as amended, the "FSMA"). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21(1) of the FSMA on the basis that it is only directed at and may only be communicated to and may only be acted upon by: (1) persons who are outside of the United Kingdom; (2) investment professionals falling within the definition contained in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"); (3) those persons who are existing members or creditors of the Offeror or other persons falling within Article 43(2) of the Order; (4) a qualified investor as defined in paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024 (“POATRs”), or (5) any other persons to whom such documents and/or materials may lawfully be communicated in accordance with the Order (all such persons together being referred to as "relevant persons"). This announcement and any other documents or materials relating to either Tender Offer are only available to relevant persons. Consequently, no disclosure document required by the FCA Product Disclosure Sourcebook (“DISC”) for offering, selling or distributing the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering, selling or distributing the Notes or otherwise making them available to any retail investor in the UK may be unlawful under DISC and the Consumer Composite Investments (Designated Activities) Regulations 2024. This announcement and any other documents or materials relating to the Tender Offers have been prepared on the basis that the Offer to Purchase in the UK will be made pursuant to an exemption from the prohibition on offers to the public under POATRs. This announcement and any other documents or materials relating to the Tender Offers are not a prospectus for the purposes of the POATRs. Any person who is not a relevant person should not act or rely on this document or any of its contents. Any investment or investment activity to which this announcement relates are only available to relevant persons and will be engaged in only with relevant persons.

France. Neither Tender Offer is being made, directly or indirectly, in the Republic of France (other than to qualified investors as described below). This announcement, the Offer to Purchase and any other document or material relating to either Tender Offer may not be distributed to the public in the Republic of France and have only been, and shall only be, distributed in the Republic of France to qualified investors as defined in Article 2(e) of Regulation (EU) 2017/1129, as amended (the "Prospectus Regulation") and in accordance with Article L. 411-2, 1° of the French Code monétaire et financier. None of this announcement, the Offer to Purchase nor any other documents or materials relating to either Tender Offer have been or will be submitted for clearance to the Autorité des marchés financiers.

Italy. None of the Tender Offers, this announcement, the Offer to Purchase or any other documents or materials relating to either Tender Offer have been or will be submitted to the clearance procedure of the Commissione Nazionale per le Società e la Borsa ("CONSOB") pursuant to applicable Italian laws and regulations. Each Tender Offer is being carried out in the Republic of Italy ("Italy") as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of February 24, 1998, as amended (the "Financial Services Act") and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of May 14, 1999, as amended. Holders or beneficial owners of the Notes that are resident or located in Italy can tender their Notes for purchase through authorized persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of February 15, 2018, as amended, and Legislative Decree No. 385 of September 1, 1993, as amended) and in compliance with any other applicable laws and regulations and with any requirements imposed by CONSOB or any other Italian authority. Each intermediary must comply with applicable laws and regulations concerning information duties vis-à-vis its clients in connection with the Notes or the Offer to Purchase.

Belgium. None of this announcement, the Offer to Purchase nor any other documents or materials relating to either Tender Offer have been, or will be, submitted or notified to, or approved or recognized by, the Belgian Financial Services and Markets Authority ("Autorité des services et marchés financiers"/"Autoriteit voor Financiële Diensten en Markten"). Neither Tender Offer is being made in Belgium by way of a public offering within the meaning of Articles 3, §1, 1° and 6, §1 of the Belgian Law of April 1, 2007 on public takeover bids ("loi relative aux offres publiques d'acquisition"/"wet op de openbare overnamebiedingen"), as amended or replaced from time to time. Accordingly, neither Tender Offer may be, or is being, advertised and neither Tender Offer will be extended and this announcement, the Offer to Purchase and any other documents or materials relating to either Tender Offer (including any memorandum, information circular, brochure or any similar documents) may not, have not, and will not, be distributed or made available, directly or indirectly, to any person in Belgium other than to "qualified investors" ("investisseur qualifié"/"gekwalificeerde belegger") within the meaning of Article 2(e) of the Prospectus Regulation acting on their own account. Insofar as Belgium is concerned, each Tender Offer is made only to qualified investors, as this term is defined above. Accordingly, the information contained in this announcement, the Offer to Purchase or in any other documents or materials relating to either Tender Offer may not be used for any other purpose or disclosed or distributed to any other person in Belgium.

This announcement is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents with respect to any Notes. This announcement does not describe all the material terms of either Tender Offer and no decision should be made by any Holder on the basis of this announcement. The terms and conditions of each Tender Offer are described in the Offer to Purchase. This announcement must be read in conjunction with the Offer to Purchase. The Offer to Purchase contains important information which should be read carefully before any decision is made with respect to either Tender Offer. If any Holder is in any doubt as to the contents of this announcement, or the Offer to Purchase, or the action it should take, it is recommended to seek its own financial and legal advice, including in respect of any tax consequences, immediately from its stockbroker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to tender such Notes pursuant to either Tender Offer.

None of the Offeror, ExxonMobil, the Dealer Manager or their affiliates, or the Tender and Information Agent makes any recommendation, or has expressed an opinion, as to whether or not Holders should tender their Notes held by them pursuant to either Tender Offer, or refrain from doing so. Each Holder should make its own decision as to whether to tender its Notes and if so, the principal amount of the Notes to tender.

The Offeror has not filed this announcement or the Offer to Purchase with, and they have not been reviewed by, any federal or state securities commission or regulatory authority of any other country. No authority has passed upon the accuracy or adequacy of either Tender Offer, and it is unlawful and may be a criminal offense to make any representation to the contrary.

The Offer to Purchase does not constitute an offer to purchase Notes in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer under applicable securities or blue sky laws. The distribution of the Offer to Purchase in certain jurisdictions is restricted by law. Persons into whose possession the Offer to Purchase comes are required by each of the Offeror, ExxonMobil, the Dealer Manager and the Tender and Information Agent to inform themselves about, and to observe, any such restrictions.

Cautionary note regarding forward-looking statements

Certain statements contained in this announcement are, or may be deemed to be, "forward-looking statements" (including for purposes of the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934).

Forward-looking statements give the Offeror’s current expectations and projections about future events, including strategic initiatives and future financial condition and performance, and so the Offeror’s actual results may differ materially from what is expressed or implied by such forward-looking statements. Forward-looking statements sometimes use words such as "expects," "anticipates," "believes," "targets," "plans," "intends," "aims," "projects," "indicates," "may," "might," "will," "should," "potential," "could" and words of similar meaning (or the negative thereof). All statements, other than statements of historical facts, included in this announcement are forward-looking statements. Such forward-looking statements include, but are not limited to, statements relating to future events; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions and plans; future earnings power; potential addressable markets; and other statements of future events or conditions.

Any forward-looking statements made by or on behalf of the Offeror speak only as of the date they are made and are based upon the knowledge and information available to the Offeror on the date of this announcement. These statements and views may be based on a number of assumptions and, by their nature, involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future and/or are beyond ExxonMobil’s control or precise estimate. Subject to our obligations under U.S. law in relation to disclosure and ongoing information, we undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.

The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions – provide products that enable modern life, including energy, chemicals, lubricants, and lower emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants, and chemical companies in the world. ExxonMobil also owns and operates the largest CO2 pipeline network in the United States. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity. To learn more, visit exxonmobil.com and ExxonMobil’s Advancing Climate Solutions.

Public Company Information: NYSE: XOM

View source version on businesswire.com: https://www.businesswire.com/news/home/20260908938146/en/

Ford Motor Company (F - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Shares of this company have returned +4.4% over the past month versus the Zacks S&P 500 composite's -0.4% change. The Zacks Automotive - Domestic industry, to which Ford Motor belongs, has gained 6.2% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

Ford Motor is expected to post earnings of $0.41 per share for the current quarter, representing a year-over-year change of -8.9%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.

The consensus earnings estimate of $1.86 for the current fiscal year indicates a year-over-year change of +70.6%. This estimate has remained unchanged over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $1.94 indicates a change of +4.4% from what Ford Motor is expected to report a year ago. Over the past month, the estimate has remained unchanged.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Ford Motor.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

For Ford Motor, the consensus sales estimate for the current quarter of $46.04 billion indicates a year-over-year change of -2.4%. For the current and next fiscal years, $177.44 billion and $178.61 billion estimates indicate +1.9% and +0.7% changes, respectively.

Last Reported Results and Surprise HistoryFord Motor reported revenues of $44.89 billion in the last reported quarter, representing a year-over-year change of -4.4%. EPS of $0.42 for the same period compares with $0.37 a year ago.

Compared to the Zacks Consensus Estimate of $45.72 billion, the reported revenues represent a surprise of -1.81%. The EPS surprise was +27.27%.

Over the last four quarters, Ford Motor surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Ford Motor is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Ford Motor. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Ford Motor Company (F) Presents at Goldman Sachs Communacopia + Technology Conference 2026 Transcript

A battery deal with CATL and a joint venture with Chinese automaker Geely were among the concerns raised in a public letter to Ford's CEO.

The Trump administration expressed "profound concern" Tuesday about Ford Motor's ties to Chinese companies that it believes could be detrimental to the Detroit carmaker and U.S. automotive industry.

In a letter addressed to Ford CEO Jim Farley, Transportation Secretary Sean Duffy questioned the automaker's strategic trajectory with Chinese companies "as it pertains to American national automotive manufacturing integrity, supply chain exposure, and reliance on technologies of foreign adversaries."

Ford, which regularly touts its position as the top-producing automaker in the U.S., called the letter a "wrongheaded attempt to capture headlines."

It also defended its stance as America's top-producing carmaker and said it employs more hourly workers in the country than any other automaker, while calling out "factual errors" in the letter. Ford said those errors included Duffy's comments about Farley proposing a joint-venture framework for Chinese automakers to enter the U.S.

The letter is the latest incident in a series of contentious discussions between the U.S. automotive industry and the Trump administration, which has caused uncertainty with its changes to trade and federal rules and regulations.

In the letter, Duffy took issue with Ford's ties to Chinese companies such as battery provider CATL and a framework Farley proposed during an auto show earlier this year in Detroit "to facilitate Chinese joint ventures on United States soil."

Ford has a licensing agreement to utilize battery technologies, including the production of lithium iron phosphate batteries, from Contemporary Amperex Technology Co., or CATL.

Ford's deal with CATL was originally announced in 2023 but has drawn renewed attention amid tensions between the U.S. and China as well as Ford's plan to use the battery technologies for energy storage systems.

"While DOT recognizes the intense competitive pressures of the global market, the Company's recent strategic decisions paint a troubling picture of a foundational American brand actively intertwining its future with Chinese state-backed enterprises," Duffy's letter read.

Duffy urged Farley, who has been complimentary of Chinese competitors as well as the Trump administration's attempt to promote U.S. manufacturing, to "reflect on these concerns and national necessities and adopt reasonable strategies that prioritize American workers, utilize allied supply chains, and promote the self-reliance and integrity of the domestic automotive industry."

Ford urged Duffy to more openly communicate with the company.

"Ford supports the Trump administration's vision for advancing American innovation and manufacturing," the company said. "Had Secretary Duffy reached out before issuing his letter to the press, we would have been happy to share more details about Ford's U.S. commitment."

— CNBC's Meghan Reeder and Phil LeBeau contributed to this report.

Ford Motor Company (F -4.24%) stock soared nearly 50% in May, as Wall Street began seeing the legacy automotive company as a hidden-gem infrastructure play as the demand for artificial intelligence (AI) and data center energy explodes. The stock has since given back about half of its May surge, and that gives investors who see long-term growth an opportunity to jump back in at a better price.

Here's why investors should be intrigued.

Data by YCharts.

Ford Energy provides a growing, stable revenue stream In May, the Detroit automaker announced its wholly owned subsidiary, called Ford Energy, which will develop and offer a battery energy storage system (BESS) for utility customers, AI data centers, and other large industrial and commercial customers. Savvy investors may have seen this coming, but for the most part, Ford built the new business behind the scenes, securing supply chains and preparing manufacturing. Ford Energy will manufacture battery cells, assemble modules and containers, and offer sales and service support, which could be the lucrative part. That's because the automaker's Ford Energy DC block was designed to have a stable and predictable lifetime performance for about two decades.

Image source: Ford Motor Company.

To help connect the dots for investors wondering, AI data centers run intense workloads that put immense strain on the electrical grid. Ford's BESS give AI data centers security in the event of electrical grid fluctuations or blackouts, as the centers need an uninterrupted power supply. The systems will also provide power during AI workload spikes, charge when electricity is cheap, and discharge when prices peak, ultimately lowering costs and providing downtime protection.

"Energy storage is a new business, but they have the right technology," a collection of Morgan Stanley analysts led by Andrew Percoco wrote in a note. "[W]e see this as an opportunity for Ford to deploy capital into a strategic growth area with a structure that preserves operational control and regulatory alignment."

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Lucrative or hype? So Ford developed a product that solves real problems for AI data centers, among other customers, but how lucrative could it be? According to J.P. Morgan analysts, Ford Energy at full capacity -- it's targeting production of 20 gigawatt-hours of annual energy storage capacity -- the business could generate over $4 billion in annual revenue and roughly $250 million to $500 million in annual operating profit by the end of the decade. But the benefits for Ford investors don't stop there, as Ford Energy could use its underutilized electric-vehicle (EV) battery plants, which would help push its Model e division to profitability much sooner than from building scale with EVs alone. That's a huge deal when you consider that Ford's Model e division, responsible for its EVs, has lost more than $18 billion total between 2022 and the second quarter of 2026.

EDF Power Solutions has already signed a five-year agreement with Ford Energy to purchase up to 20 gigawatt-hours of large BESS, with deliveries set to begin in 2028. Here's the kicker: While this is a great move for Ford and its investors, the company is still make-or-break in its traditional businesses. If by 2030 Ford Energy indeed generates the high end of estimates, $500 million in operating profit, it moves the needle a bit compared with Ford's 2025 adjusted earnings before interest and taxes of $6.8 billion. For investors, that leaves it as an overlooked play on AI, with the caveat that it's mostly still a traditionally low-margin automaker. However, this low-margin narrative is changing as more high-margin software-defined business spreads throughout vehicles and services.

If you're looking for a pure-play AI stock, Ford won't be that. However, if you're an industrial or automotive investor looking for upside between the many options, this is a great development to identify and include in your investment thesis, because it can move the needle and it could continue to grow high-margin business at Ford.

GE Aerospace is buying Consolidate Precision Products for almost $12 billion. It's a big deal for the jet engine maker.

GE Aerospace has struck a deal to buy engineered-castings maker Consolidated Precision Products from private investment firms Warburg Pincus and Berkshire Partners for $11.75 billion.

'Mad Money' host Jim Cramer talks investing opportunities beyond AI.

Verizon just signed a supply agreement with Corning that runs through 2032, and the scale of the commitment reveals exactly how aggressively the carrier plans to rewire its growth around fiber and AI infrastructure.

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80 Million Miles of Glass 80 million miles. That is the volume of high-density optical fiber and connectivity solutions Verizon (NYSE:VZ | VZ Price Prediction) has committed to buy from Corning (NYSE:GLW) under a multi-billion dollar agreement running 2027 to 2032, according to terms revealed alongside a Tuesday announcement covered by Barron’s. The deal names Corning Contour Flow Cable as a supplied product and deepens an existing 30-year Verizon-Corning relationship. The agreement spans both use cases: Verizon has locked in supply for consumer broadband and fiber-to-the-home buildout as well as the long-haul backbone for AI data centers.

What It Means Operationally Verizon is buying certainty. On its most recent call, CEO Hans Vestberg said the carrier is “solidly on track to have more than 32 million fiber passings by the end of this year” and is still “very focused on driving our fiber footprint 40 to 50 million over the medium term.” Reaching that medium-term footprint requires glass, and lots of it. An 80 million mile commitment covers both the fiber-to-the-home push and the dark and lit fiber Verizon plans to sell into AI infrastructure, where management has flagged “potentially multi billions in revenues” from hyperscalers and enterprises.

Verizon closed Q2 FY2026 with 10.9 million fiber broadband connections, up 43.3% year over year, and 348,000 broadband net adds, up 12.3% year over year. The Frontier Communications acquisition closed Jan 20, 2026, pushing the fiber footprint to 30 million-plus homes and businesses. Locking in supply through 2032 removes a bottleneck at exactly the moment Corning is telling investors “if we could make more, we could sell more.” Corning is one of the quieter names powering the AI data-center buildout, and we profiled seven suppliers like it, from power to cooling to fiber, in a free report you can grab here.

Market Reaction Verizon shares traded at $50.37 on Tuesday morning, up 0.46% on the session. The stock is up 8.39% over the past month and 29.89% year to date. Corning, the supplier side of the trade, traded at $161.46, up 8.58% over the past week and 85.38% year to date.

Bull Case For long-term Verizon holders, this contract does three things at once. It underwrites the network Verizon needs to hit its 40 to 50 million fiber-passings goal, it hard-wires the physical layer for the AI infrastructure revenue Dan Schulman flagged when he said “with the emergence of AI infrastructure revenue, we are fundamentally reshaping Verizon’s growth trajectory”, and it does so alongside a balance sheet already funding the raised FY2026 buyback target of up to $4.5B and a $0.7075 quarterly dividend.

The operating results back the strategy. Q2 FY2026 delivered adjusted EPS of $1.30 versus a $1.27 consensus, the sixth straight EPS beat. Adjusted EBITDA margin expanded to 40.1% from 37.1%. Free cash flow reached $6.426 billion, up 27.12% year over year. Postpaid phone churn improved to 0.92% from 0.97%, and postpaid phone net adds swung to 184,000 from a loss of 9,000 a year earlier. Management has told investors converged customers show “almost 30% less” churn. More fiber, sold into more homes, alongside wireless, is the bull thesis, and Verizon just secured six years of the raw material to execute it.

Bottom Line An 80 million mile supply commitment through 2032 is the kind of number long-term holders should weigh heavier than any single quarter. It aligns Verizon’s capex plan, its $16.0 to $16.5 billion FY2026 capex range, its Frontier integration, and its AI infrastructure ambitions behind one physical asset base. Management has told investors more specifics on AI infrastructure revenue are due “in the next three to six months.” That is the next catalyst. The glass is already ordered.

Contact [email protected] for any questions or corrections.

Goldman Sachs (GS.N) said on Tuesday it has opened a ​new office in Bellevue, Washington, to serve ‌as a dedicated engineering location for more than 125 employees focused ​on AI and cloud transformation.

Corporate ​America has stepped up investments ⁠in AI as the fast-growing ​technology promises to transform business ​operations and boost productivity.

"The Pacific Northwest is home to many of the world’s ​top engineering schools and a ​deep pool of talent," Goldman CEO David ‌Solomon ⁠said in a statement. "Hiring exceptional talent is central to how we adapt and grow."

The Wall ​Street giant ​employs ⁠more than 12,000 engineers, representing roughly one-quarter of ​its global workforce, who ​play ⁠a critical role in developing the technologies that power its businesses, ⁠it ​said.

BlackRock (BLK - Free Report) closed the most recent trading day at $1,095.37, moving -2.4% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.58%. Elsewhere, the Dow lost 1.18%, while the tech-heavy Nasdaq lost 0.32%.

Coming into today, shares of the investment firm had lost 0.81% in the past month. In that same time, the Finance sector gained 0.23%, while the S&P 500 lost 0.36%.

The investment community will be closely monitoring the performance of BlackRock in its forthcoming earnings report. In that report, analysts expect BlackRock to post earnings of $14.24 per share. This would mark year-over-year growth of 23.29%. Meanwhile, our latest consensus estimate is calling for revenue of $7.44 billion, up 14.26% from the prior-year quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $55.86 per share and a revenue of $28.8 billion, indicating changes of +16.16% and +18.92%, respectively, from the former year.

Investors should also note any recent changes to analyst estimates for BlackRock. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.41% upward. As of now, BlackRock holds a Zacks Rank of #3 (Hold).

Looking at valuation, BlackRock is presently trading at a Forward P/E ratio of 20.09. This indicates a premium in contrast to its industry's Forward P/E of 12.11.

One should further note that BLK currently holds a PEG ratio of 1.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Financial - Investment Management industry was having an average PEG ratio of 1.21.

The Financial - Investment Management industry is part of the Finance sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 42% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.

The Zacks Premium service, which provides daily updates of the Zacks Rank and Zacks Industry Rank; full access to the Zacks #1 Rank List; Equity Research reports; and Premium stock screens like the Earnings ESP filter, makes these more manageable goals. All of the features can help you identify what stocks to buy, what to sell, and what are today's hottest industries.

It also includes the Focus List, a long-term portfolio of top stocks that have all the elements to beat the market.

Breaking Down the Zacks Focus ListBuilding an investment portfolio from scratch can be difficult, so if you could, wouldn't you take a peek at a curated list of top stocks?

That's what the Zacks Focus List offers. It's a portfolio of 50 stocks that serve as a starting point for long-term investors to build their individual portfolios. The stocks included in the list are set to outperform the market over the next 12 months.

One thing that makes the Focus List even more advantageous is that each pick comes with a full Zacks Analyst Report. This helps explain why each stock was selected and why we believe it's a good pick for the long-term.

The portfolio's past performance only solidifies why investors should consider it as a starting point. For 2020, the Focus List gained 13.85% on an annualized basis compared to the S&P 500's return of 9.38%. Cumulatively, the portfolio has returned 2,519.23% while the S&P returned 854.95%. Returns are for the period of February 1, 1996 to March 31, 2021.

Focus List MethodologyWhen stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.

Brokerage analysts are in charge of determining a company's growth and profitability expectations, or earnings estimates. These analysts work together with company management to evaluate all factors that may affect future earnings, like interest rates, the economy, and sector and industry optimism.

What a company will earn down the road also needs to be taken into consideration, and this is why earnings estimate revisions are so important.

When a stock receives upward earnings estimate revisions, it will likely get even more positive changes in the future. For instance, if an analyst raised their earnings outlook last month, they'll probably do so again this month, and other analysts will follow.

Harnessing the power of earnings estimate revisions is where the Zacks Rank comes in. The Zacks Rank, which is a unique, proprietary stock-rating model, employs earnings estimate revisions to make it easier to build a winning portfolio.

There are four main factors behind the Zacks Rank: Agreement, Magnitude, Upside, and Surprise. Each one of these features is then given a raw score that's recalculated every night and compiled into the Rank. Using this data, stocks are classified into five groups, ranging from "Strong Buy" to "Strong Sell."

The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.

Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks offer investors a great opportunity to get into companies whose future earnings estimates will be raised, potentially leading to price momentum.

Focus List Spotlight: Starbucks (SBUX - Free Report) Starbucks is a global roaster, marketer and retailer of specialty coffee, operating in 90 markets worldwide. As of March 29, 2026, the company had 41,129 company-operated and licensed stores. The United States and China represented 61% of the global portfolio, with 16,944 stores in the United States and 7,991 in China.

SBUX, a #3 (Hold) stock, was added to the Focus List on August 16, 2019 at $95.93 per share. Since then, shares have increased 8.9% to $104.47.

Eight analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.17 to $2.58. SBUX also boasts an average earnings surprise of 8.4%.

Additionally, SBUX's earnings are expected to grow 21.1% for the current fiscal year.

Reveal Winning StocksUnlock all of our powerful research, tools and analysis, including the Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. You'll quickly identify which stocks to buy, hold and sell, and target today's hottest industries, to help improve the performance of your portfolio. Gain full access now >>

Hewlett Packard Enterprise Company (HPE) Presents at Citi's 2026 Global TMT Conference Transcript

Coca-Cola (KO +0.33%) and PepsiCo (PEP +0.60%) are iconic businesses, and their stocks are known for being among the best income-generating investments to own.

However, they've been going in vastly different directions. In the past three years, Coca-Cola's stock has risen by around 50%, while PepsiCo's has declined by 21%. And as dividend investors know, that means their yields have been going in opposite directions; Coca-Cola's yield has been shrinking while PepsiCo's has been rising.

But there's more to assessing dividend stocks than just looking at their yields and past performances. Below, I'll look at both of these stocks to see which one is the best option for dividend investors right now, considering their yields, dividend growth rates, overall financial strength, and valuations.

Image source: Getty Images.

PepsiCo's yield is higher, and its increases have been more generous in recent yearsBoth PepsiCo and Coca-Cola have been increasing their payouts for more than 50 consecutive years, making them Dividend Kings. Past dividend growth doesn't guarantee future increases, but it is indicative of a company's commitment to growing the payout. Plus, it also demonstrates confidence in its future earnings growth.

Investors should also, however, consider the rate of dividend increases. A stock that raises its payout by just one cent would technically be increasing it, but that can mean minimal incremental dividend income for an investor. In the past five years, PepsiCo has raised its dividend at a noticeably higher rate than Coca-Cola.

KO Dividend data by YCharts

PepsiCo already offers a higher yield of 4.3% versus 2.4% for Coca-Cola, which gives it the edge in this area. If this trend continues, the gap may grow larger in the future.

Coca-Cola has a leaner business and a lower payout ratioCoca-Cola has a simpler, less complex business model than PepsiCo, which, in addition to beverages, also includes many top snacking brands. Its business is bulkier, and as a result, its margins are not as impressive as Coca-Cola's. While PepsiCo has averaged a profit margin of around 11% over the trailing 12 months, Coca-Cola's margin is up around 28%.

Furthermore, Coca-Cola's payout ratio of 63% is lower than PepsiCo's, which is around 75%. With a lower payout ratio and better margins, Coca-Cola may be in a stronger position to increase its dividend at a faster rate in the future -- but it's by no means a guarantee.

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Investors are paying significantly more for Coca-Cola stockAs good a business as Coca-Cola may be, the stock itself is priced at a hefty premium. It's trading at a forward price-to-earnings (P/E) multiple of 25, which is based on analyst projections of its future earnings. By comparison, PepsiCo's forward P/E is only 15.

The risk with paying a high multiple is that it can limit future returns, and the stock may even be due for a decline if its valuation is highly inflated. While investors have been much more bullish on Coca-Cola's stock in recent years, that may not necessarily be the case in upcoming years, particularly with its forward P/E multiple being as high as it is right now.

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PepsiCo is the dividend stock I'd buy todayCoca-Cola has better margins and a lower payout ratio, but that's not enough to make it the better overall dividend stock. Even if Coca-Cola's dividend increases are more generous in future years, the gap between the yields is already fairly significant. Without significant changes in their respective share prices, it could take a long time for Coca-Cola to catch up to PepsiCo.

Ultimately, I don't see a compelling reason why Coca-Cola should be worth a drastically higher premium than PepsiCo. Both businesses are doing well, and even if PepsiCo's rate hikes may not be as high moving forward, it already makes for a fairly safe, high-yielding investment today. At a discounted valuation, it looks to have much more potential upside than Coca-Cola.

Key Takeaways FIGR benefits from blockchain lending, tokenized assets and crypto-backed loans.CHYM Financial is working to bring dollar-tied stablecoins into everyday user payments.PAY integrates PayPal's "Checkout with Crypto" feature into its bill-payment technology. Wall Street’s cryptocurrency environment has improved meaningfully over the past few months, although the market remains highly sensitive to interest rates, Treasury yields and regulatory developments. The biggest shift has been the growing importance of institutional capital, with Bitcoin (BTC) and Ethereum (ETH) increasingly traded through regulated exchange-traded products rather than solely through traditional crypto exchanges. Figure Technology Solutions, Inc. (FIGR - Free Report) , Chime Financial, Inc. (CHYM - Free Report) and Paymentus Holdings, Inc. (PAY - Free Report) are three crypto-related stocks that must be watched in this environment.

ETF Demand ReturnsCrypto ETF flows have emerged as one of the clearest indicators of institutional sentiment. After periods of heavy outflows earlier in the year, demand strengthened significantly during August. Between Aug. 17 and Aug. 20, U.S. spot Bitcoin ETFs attracted about $1.6 billion, their strongest weekly inflow pace of 2026 at that point.

The momentum continued into early September. Bitcoin ETFs recorded $986.9 million of inflows during the week ended Sept. 4, while demand for Ethereum and several newer altcoin ETFs cooled. More recently, Bitcoin ETFs attracted $730.8 million in a single session, while Ethereum ETFs added $141.4 million.

This suggests that institutional investors continue to view Bitcoin as the primary digital-asset exposure, while interest in Ethereum and other cryptocurrencies remains more dependent on market momentum.

Regulation Improves the BackdropRegulatory developments have also become increasingly important. The proposed CLARITY Act, which seeks to establish clearer oversight of digital assets and divide responsibilities between regulators, has become a major focus for Wall Street. Although Senate action was delayed until September, the prospect of clearer rules has helped support institutional participation.

The U.S. Securities and Exchange Commission (“SEC”) has separately moved toward a more accommodating framework. In August, SEC Chair Paul Atkins outlined proposed rules that would create exemptions specifically designed for innovation and fundraising in crypto markets.

Stablecoins are another important part of the institutional story. The GENIUS Act has established a federal framework for payment stablecoins, potentially encouraging their use in payments and financial-market infrastructure.

Rates Remain the Biggest RiskDespite the improving structural backdrop, crypto remains closely tied to Wall Street's macro environment. Bitcoin recently moved around the $80,000 level, but a stronger-than-expected August jobs report pushed Treasury yields higher and reduced expectations for near-term Federal Reserve easing.Top of FormBottom of Form

Our ChoicesThe stocks below have a Zacks Rank #1 (Strong Buy) or Rank #2 (Buy), and positive returns and margins. You can see the complete list of today’s Zacks #1 Rank stocks here.

Figure Technology is a fintech and blockchain-native capital marketplace, using blockchain for lending and tokenized assets, with direct crypto exposure through crypto-backed loans. FIGR’s expected earnings growth rate for the next year is 168.2%. The Zacks Consensus Estimate for its current-year earnings has improved 25.5% over the past 60 days. The company currently sports a Zacks Rank #1.

Chime Financial is a digital banking company offering payments, working to bring stablecoins (cryptocurrencies tied to the U.S. dollar) into everyday user payments. CHYM’s expected earnings growth rate for the next year is 109.6%. The Zacks Consensus Estimate for its current-year earnings has improved 36.7% over the past 60 days. The company currently carries a Zacks Rank #2.

Paymentus is a provider of cloud-based electronic bill-payment and revenue-management technology with native integration with PayPal Holdings, Inc.’s (PYPL - Free Report) "Checkout with Crypto" feature. PAY’s expected earnings growth rate for the next year is 40.9%. The Zacks Consensus Estimate for its current-year earnings has improved 14.8% over the past 60 days. The company currently has a Zacks Rank #2.

Bottom LineWall Street’s crypto environment appears increasingly institutional, with ETF flows, regulatory progress and stablecoin adoption providing important support. However, cryptocurrencies remain high-beta assets, leaving Bitcoin and other digital assets vulnerable to higher yields, changing Fed expectations and broader risk-off sentiment.

A trade through 29,811.50 will change the minor trend to up. If the move creates enough upside momentum, the rally could extend into the next main top at 30,343.00.

On the downside, a sustained move under 29,610.75 will signal the presence of sellers. This could trigger a break into the 50-day moving average at 29,375.89. Buyers could show up on the first test of the 50-day moving average, but if it fails, selling could extend into the intermediate 50% level at 29,150.75.

What to Watch Crude oil is the immediate risk. Brent near $99 has put $100 back in play, and another push higher would add to inflation pressure, lift Treasury yields and test the Nasdaq’s ability to ignore the macro trade. Qualcomm and the semiconductor group have the bid for now, but they are not trading in a vacuum.

The inflation reports arrive later this week. They matter because oil is already pushing the rate-hike case higher. If crude stays bid and the data come in hot, the chip rally faces a much tougher market.

The near-term bias stays bullish while the Nasdaq-100 holds the 50-day moving average at 29,375.89. A push through 29,811.50 confirms the uptrend and opens 30,343.00. The chip group has to hold Tuesday’s gains through PPI and CPI for the breakout to mean anything. The inflation numbers decide whether the Nasdaq keeps resisting the crude and yield pressure or whether the Dow’s problem becomes everybody’s problem.

More Information in our Economic Calendar.

AWS is sitting on a $496 billion backlog and doubling its power capacity, and the pressure is now pulling a surprising new name into the AI silicon race alongside Broadcom. Whether that newcomer can actually deliver before the window closes…

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Amazon’s AWS unit is now the loudest buyer in the AI compute market, and this morning it handed a piece of its silicon roadmap to a new supplier. Qualcomm announced a multi-generational product collaboration with Amazon to build next-generation AI data center infrastructure, extending AWS’s custom-chip strategy beyond in-house Trainium and incumbent Broadcom. The scale of what AWS is trying to feed is the point: AWS backlog stands at $496 billion, and Amazon is on pace to double its power capacity by the end of 2027 versus 2025. That is the demand pressure that just pulled Qualcomm into the accelerator conversation.

Amazon: Anchor Buyer With a $496 Billion Backlog Amazon (NASDAQ:AMZN | AMZN Price Prediction) is the customer at the center of this story, and its Q2 FY2026 print explains why silicon vendors are lining up. AWS revenue was $42.2 billion, up 36.7% year-over-year, the fastest AWS growth in 18 quarters, with an annualized revenue run rate of $169 billion. Amazon’s own AI revenue run rate is now over $25 billion, and its chips business separately eclipsed a $25 billion run rate. Cash capital expenditures hit $53.1 billion in the quarter, and CEO Andy Jassy said AWS could “very possibly be a trillion dollar annual revenue business for us in time.”

The bull case is straightforward: Amazon has already reserved the lion’s share of 2027 capacity and is signing 2028, and management said most AI capacity is being contracted for at least five-year terms. Shares trade at a P/E of 36 with the stock up 11.03% year to date. The risk: near-term free cash flow is under pressure while data centers are built ahead of monetization, a point Amazon flagged directly on the call.

Qualcomm: New Data Center Entrant With a Signed Amazon Deal Qualcomm (NASDAQ:QCOM) just converted what had been a vaguely disclosed “leading hyperscaler” engagement into a named Amazon partnership. Per CNBC, Qualcomm is working with Amazon “across multiple generations of customized silicon” focused on inference workloads for AWS AI infrastructure, and per user context, the scope also reaches into 1.6T optical connectivity, giving Qualcomm a shot at selling both compute and networking around AI workloads. On the July earnings call, CFO Akash Palkhiwala said Qualcomm already has purchase orders and has started wafer production on its two hyperscaler engagements, with revenue starting in the December quarter.

The numbers behind the pivot: Qualcomm is targeting $5 billion in data-center revenue in fiscal 2027 and $15 billion in fiscal 2029, with total non-handset revenue targeted at $40 billion by fiscal 2029. CEO Cristiano Amon said non-handset growth will accelerate from 24% in fiscal 2026 to greater than 60% in fiscal 2027. The stock ripped on the news, up 7.4% over the past week and 3.94% on the session to $175.39, trading at a P/E of 33 with a 2.11% dividend yield.

The bull case: this is Qualcomm’s second major hyperscaler win, following Meta’s commitment to use the Dragonfly C1000 starting in 2028 production, and Bank of America sees the CPU market growing from $27 billion in 2025 to $60 billion by 2030. The risk is real and management flagged it themselves: initial custom-chip data-center revenue carries gross margins significantly lower than baseline and will reduce QCT weighted-average gross margin by one and a half to 2% during the ramp. Handset revenue also declined 20% year-over-year last quarter, so the data-center story has to work to offset the core business.

Broadcom: Incumbent With a $115 Billion AI Runway Broadcom (NASDAQ:AVGO) is the incumbent Qualcomm is trying to catch, and last week’s print set the bar. Q3 AI semiconductor revenue was $16.70 billion, up 221% year-over-year and 54% quarter-over-quarter, representing 56% of total revenue. Q4 guidance calls for AI semi revenue of $21.7 billion, and management expects fiscal 2026 AI revenue of $58 billion, scaling to approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028. CEO Hock Tan pegged Broadcom’s content at $20 billion to $30 billion per gigawatt of AI infrastructure deployed.

The customer roster is what makes the incumbency stick: Google TPUs (Broadcom said it plans to deliver “multi-tens of billions of dollars of TPUs annually over the next several years”), Anthropic (a one-gigawatt Ironwood deployment in 2026 and another five gigawatts of TPU v8i in 2027), OpenAI (Jalapeno accelerator with 1.3 gigawatts of deployment in 2027), and Meta’s MTIA program. The stock is up 20.62% over the past year but down 12.37% over the past month to $366.52, with free cash flow last quarter of $13.66 billion (46% of revenue). The risk is customer concentration: the “vast majority” of AI demand originates from a concentrated group of frontier-model developers, and any of those customers dual-sourcing (as AWS is now doing with Qualcomm) chips away at the addressable moat.

What to Watch These are three fundamentally different bets on the same buildout. Amazon has the balance sheet and the backlog to fund the demand pull, Broadcom has the incumbent AI-silicon P&L with real free cash flow behind it, and Qualcomm is an early-revenue data-center entrant whose thesis rests on execution against a fiscal 2029 $15 billion target that has not yet shown up in the reported numbers. December-quarter shipments and the fiscal 2027 ramp are the two proof points that will decide whether Qualcomm actually takes durable share, or whether Broadcom’s TPU, Jalapeno, and MTIA pipelines simply absorb the next leg of hyperscaler capex. For readers hunting the next monster run in AI silicon, we reverse-engineered what the biggest tech winners looked like early in a free playbook here.

Contact [email protected] for any questions or corrections.

Qualcomm QCOM shares were surging on Tuesday after the chipmaker announced a major deal.

The stock surged as much as 10% in early trading, but gave up most of those gains to trade around 4% higher at the time of writing.

The company said it has entered a multi-generational product collaboration with Amazon Web Services to supply customized silicon for large-scale AI data centers.

The deal marks the chipmaker’s third named hyperscaler partnership as it pushes into a market dominated by Nvidia.

The companies will work together across multiple generations of custom chips focused on AI inference, the process by which trained models generate outputs.

They will also jointly develop optical connectivity solutions extending up to 1.6T, built on Qualcomm’s SerDes and optical DSP technologies, to handle the bandwidth demands of AWS’s data center networks.

The pullback from the day’s high suggests some profit-taking once the initial reaction to the Amazon news settled in.

The stock has lagged the broader semiconductor sector for most of 2026. On a year-to-date basis, the stock is up around 1.5%, while the VanEck Semiconductor ETF is up over 50%.

As part of the agreement, Qualcomm issued Amazon a warrant to purchase up to 25 million QCOM shares at $161.26 each, according to Qualcomm’s regulatory filing.

Amazon receives an initial tranche of 3.75 million shares, with the remainder tied to commercial milestones that could total up to $60 billion in business under the deal.

The warrant expires on September 3, 2036.

Qualcomm also said it plans to deepen its own use of AWS infrastructure, including Amazon Bedrock, for electronic design automation work, aiming to shorten its chip design cycles.

“As AI demand accelerates, data center infrastructure will require advances in both computing and connectivity to deliver greater performance with more efficiency,” Qualcomm CEO Cristiano Amon said in the companies’ joint statement.

The Amazon agreement follows Qualcomm’s June 2026 Investor Day, where the company laid out its AI data center strategy in detail, introducing the Dragonfly C1000 CPU and its High Bandwidth Compute architecture, alongside separately announced AI200 and AI250 inference accelerators built for Saudi-backed Humain.

At that event, Qualcomm named Meta and Microsoft as its first data center partners, Meta as a customer for the Dragonfly C1000 CPU, with production expected in the second half of 2028, and Microsoft backing Qualcomm’s High Bandwidth Compute architecture for Azure.

Qualcomm also told investors it was targeting $15 billion in data center revenue by fiscal 2029.

Amazon now becomes Qualcomm’s third named hyperscaler relationship.

The tie-up also puts Qualcomm in a slightly unusual position relative to Amazon’s own chip ambitions.

AWS already builds its own custom silicon, including the Trainium and Graviton lines, and CEO Andy Jassy said in his April shareholder letter that annualized revenue across Amazon’s chip products was already around $20 billion, with a path toward $50 billion if AWS begins selling to outside customers.

MarketBeat Week in Review – 08/31 - 09/04Qualcomm NASDAQ: QCOM CFO and COO Akash Palkhiwala said the company’s newly announced multiyear agreement with Amazon represents a “landmark deal” for its expanding data-center business and supports its previously disclosed growth targets.

Speaking at the Goldman Sachs Communacopia + Technology Conference, Palkhiwala said the agreement includes multiple generations of customized silicon as well as optical connectivity products beginning with 1.6T technology and future generations. Qualcomm expects to begin recording revenue from Amazon in the December quarter and said it is already producing chips for the customer.

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Qualcomm’s AI Ambitions Run Into a Smartphone Reality CheckThe transaction also includes a warrant agreement tied to Amazon purchases of up to $60 billion in Qualcomm data-center products over 10 years, according to Palkhiwala. He said roughly 15% of the warrants vest upfront based on Amazon’s initial commitments.

Data-center targets and product strategy Palkhiwala said the Amazon relationship gives Qualcomm high confidence in its target of approximately $5 billion in data-center revenue for fiscal 2027, which begins shortly for the company. He also said the agreement should support strong year-over-year growth in fiscal 2028 and is among the core components supporting Qualcomm’s goal of $15 billion in data-center revenue in fiscal 2029.

Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling?Qualcomm’s data-center approach consists of four business areas, Palkhiwala said:

Custom silicon for hyperscale customers AI accelerators Central processing units Connectivity products, including SerDes and optical connectivity The company is also working with another global hyperscaler on custom silicon, he said. Qualcomm’s custom-chip capabilities draw on its compute and connectivity technologies, experience with advanced manufacturing nodes and high-yield production, according to Palkhiwala.

In AI accelerators, Qualcomm is initially targeting inference workloads, particularly memory-bandwidth-intensive decode tasks. Palkhiwala highlighted the company’s High Bandwidth Compute technology, which combines compute and memory through stacking. He said the technology is designed to deliver high bandwidth at low power and has received a positive response from customers.

Qualcomm is also bringing its CPU technology to data centers, where it has Meta as its first silicon customer. Palkhiwala said the company believes its products can provide strong performance per watt and performance per area. He said the CPU market opportunity has expanded to more than $200 billion annually and that Qualcomm sees about half of that market moving toward Arm architecture.

Software and power efficiency Palkhiwala said Qualcomm’s acquisition of Modular addresses a key software need as the company expands in data centers. Modular’s software stack is designed to enable models to run across multiple silicon platforms, including those from NVIDIA, AMD and Qualcomm, without requiring developers to build separately for each architecture.

Qualcomm plans to use Modular as its software stack going forward and is pursuing an open-source approach for lower layers of the stack, Palkhiwala said. He compared the strategy to an Android-like model intended to make Qualcomm silicon more accessible to developers across both edge and data-center products.

He also said power constraints, wafer availability and memory supply are likely to shape the AI infrastructure market. Qualcomm’s longstanding focus on performance per watt could provide an advantage in a power-constrained environment, he said, while its manufacturing scale could also be strategically important.

Palkhiwala said AI computing will be distributed between cloud data centers and edge devices rather than concentrated solely in one environment. Qualcomm is developing AI accelerators for edge devices including smartphones, vehicles, PCs, industrial products and robotics.

Smartphones, automotive and wearables On smartphones, Palkhiwala described the market as being in transition toward agentic and voice-first experiences. He said future devices could incorporate separate AI accelerators alongside main processors, increasing silicon content.

He said global smartphone volumes have declined by low-double-digit percentages over the past year, with the largest pressure affecting devices priced below $300 as memory costs rose. However, Qualcomm has seen limited impact at the premium end of the market, where it has its greatest presence.

Palkhiwala also pointed to personal AI devices—including smart glasses, watches, pendants, pins and dongles—as another opportunity. He said companies are developing devices that can see and hear what users do and serve as AI interaction points. Qualcomm is moving toward providing modules and systems-in-package for these products, integrating processing, connectivity, AI, memory and passive components.

In automotive, Palkhiwala said Qualcomm expects to become the largest chip supplier to the auto industry next year. He said the company’s automotive compute content has increased eightfold from its third-generation products to its fifth-generation products, supported by demand for AI, advanced driver-assistance systems and in-car voice interfaces.

Qualcomm has also shifted from selling individual chips toward selling modules and systems-in-package for automotive customers, he said. The company has accelerated its automotive revenue target timetable, originally targeting $10 billion in revenue by 2031 before moving that objective to 2029 and then earlier.

Margins and investment Regarding financial implications, Palkhiwala said Qualcomm expects data-center gross margins to remain broadly in the range of current company margins. Custom products may carry lower margins, while merchant products could carry significantly higher margins, he said.

He added that operating margins should benefit as Qualcomm scales new businesses and leverages research and development investments across its product portfolio. The company has set a target of 30% operating margins three years out, with operating-expense increases expected to trail revenue growth, according to Palkhiwala.

About Qualcomm (NASDAQ:QCOM)Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Qualcomm (QCOM) establishing an AI collaboration with Amazon (AMZN) is something Futurum CEO Dan Newman sees as "very optimistic." The partnership is currently valued at $60 billion.

Shares of Qualcomm (QCOM +3.17%) rose as much as 8.7% on Tuesday after the semiconductor designer struck a potentially highly lucrative partnership with Amazon (AMZN -0.60%).

Image source: The Motley Fool.

Accelerating the AI boom Qualcomm will help Amazon develop custom artificial intelligence (AI) chips to power its industry-leading cloud computing business.

Amazon Web Services (AWS) will also deploy Qualcomm's advanced optical connectivity solutions to speed up data transfers across Amazon's sprawling data center network.

The shift from AI model training to inference -- using trained models to make predictions -- is creating an even greater need for power-efficient computing infrastructure.

That just happens to be Qualcomm's specialty.

The semiconductor designer has built expertise in energy-efficient processors over nearly two decades of developing high-performance, low-power chips for the smartphone market.

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As part of the deal, Amazon obtained a warrant to buy up to 25 million shares of Qualcomm's stock at an exercise price of $161.26 per share. The warrant vests in stages based on up to $60 billion in chip orders and related purchases. It expires on Sept. 3, 2036.

A strong vote of confidence for Qualcomm's AI chips The global smartphone industry's slowing growth has prompted Qualcomm to seek greener pastures -- and there aren't many greener than the AI data center build-out race.

Earning Amazon's stamp of approval could provide a powerful boost to Qualcomm's AI customer acquisition efforts.

Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Qualcomm. The Motley Fool has a disclosure policy.