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--(BUSINESS WIRE)--UnitedHealth Group (NYSE: UNH) today reported second quarter 2026 results and raised guidance for full year 2026.

“Our results and outlook reflect the continuing progress in our work to simplify how we operate, improve both affordability and the health care experience for patients and care providers and apply modern technology to create real improvement for people,” said Stephen Hemsley, chief executive officer of UnitedHealth Group.

The company now expects full year 2026 adjusted net earnings between $19.50 to $20.00 per share resulting from performance year-to-date and an improved outlook for the remainder of the year. A table outlining the company’s updated outlook is below, with additional detail on page 7 of this release.

Consolidated revenues for the second quarter 2026 were $112.0 billion and earnings from operations were $8.0 billion, with a net margin of 4.9%. Cash flows from operations were $11.1 billion, or 1.9x net income, and the debt-to-capital ratio was 41.2% as of June 30, 2026.

UnitedHealth Group’s medical cost ratio was 86.7% for the second quarter 2026, reflecting cost and pricing discipline, as well as mix changes across all benefit offerings. The operating cost ratio of 12.7% in the second quarter 2026 compared to 12.3% in the second quarter 2025, reflecting targeted investments in technology, operations and the community.

Over the last year, the company has advanced a broad set of reforms and commitments to improve affordability, transparency and simplicity for care providers and consumers. These actions reflect the company’s deep commitment to helping people live healthier lives and helping make the health system work better for everyone. These actions are outlined in more detail on page 3 of this release.

Second Quarter 2026 Key Performance Metrics

Second quarter 2026 adjusted net earnings were $6.38 per share. The medical care ratio was 86.7% and reflected product design changes, improved medical management and better aligned pricing. MCR was affected by $860 million of net favorable prior period development, with the majority related to 2026 dates of service. The operating cost ratio of 12.7% included targeted investments in infrastructure, artificial intelligence, care delivery enhancements, consumer experience and community support. UnitedHealthcare served 48.5 million consumers and reported revenues of $86.0 billion and earnings of $3.9 billion, with operating margins of 4.6%. Optum supported more than 120 million consumers and generated revenues of $65.7 billion and earnings of $4.0 billion, representing 160 basis points of margin expansion year-over-year. UnitedHealth Group Updated 2026 Full Year Guidance

($ in millions, except per share data)

Reported Operating
Earnings

Adjusted Operating
Earnings

UnitedHealthcare

> $12,000

> $12,000

Optum Health

> $2,275

> $2,215

Optum Insight

> $4,925

> $4,750

Optum Rx

> $6,250

> $6,250

Optum (a)

> $13,450

> $13,215

UnitedHealth Group

> $25,450

> $25,215

Medical Care Ratio

88.1% ± 25 bps

Tax Rate

~18.5%

Cash Flows from Operations

~$24,000

Share Repurchase

At Least $5,000

Net Earnings to UNH Shareholders

> $16,750

Diluted

Adjusted (b)

Net Earnings per Share

$18.45 - $18.95

$19.50 - $20.00

Addressing America’s Healthcare Challenges with Sustainable Solutions

UnitedHealth Group remains committed to addressing the issues that make health care costly and complicated for the people and providers we serve. Recent actions taken to address these issues include:

UnitedHealth Group Second Quarter 2026 Results

Quarterly Financial Performance

Three Months Ended

June 30,

2026

June 30,

2025

March 31,

2026

Revenues

$112.0 billion

$111.6 billion

$111.7 billion

Earnings from Operations

$8.0 billion

$5.2 billion

$9.0 billion

Net Margin

4.9%

3.1%

5.6%

UnitedHealth Group’s second quarter 2026 revenues were $112.0 billion compared to $111.6 billion in the year ago quarter. Second quarter 2026 earnings from operations of $8.0 billion compared to $5.2 billion in the year ago quarter, driven by strong performance across both UnitedHealthcare and Optum. The second quarter 2026 medical care ratio was 86.7% compared to 89.4% in the second quarter 2025. The year-over-year decrease was driven by benefit design and pricing discipline, member mix and medical cost management initiatives. Net medical reserve development was $860 million in the quarter. Days claims payable were 47.0 compared to 48.6 in the first quarter 2026 and 44.5 in the second quarter 2025. The sequential variation was driven by normal seasonality. Days sales outstanding of 17.7 compared to 21.6 in the first quarter 2026 and 19.9 in the year ago quarter, with the sequential and year-over-year decrease due to payment timing. The second quarter 2026 operating cost ratio of 12.7% compared to 12.3% in second quarter 2025, reflecting incremental investments in technology, processes and people to improve care delivery and customer experiences and advance community health. Cash flows from operations were $11.1 billion, or 1.9 times net income, reflecting the timing of a substantial government payment, along with strong earnings performance and disciplined working capital management. Debt-to-capital ratio was 41.2% as of June 30, 2026, compared to 42.9% in the first quarter 2026 and 44.1% in the second quarter 2025. The company continues to target a long-term debt-to-capital ratio of approximately 40.0% by year-end. The company repurchased $4.0 billion of its common stock through mid-July 2026 and is on track to repurchase at least $5.0 billion for the full year 2026. UnitedHealthcare Second Quarter 2026 Results

UnitedHealthcare provides health care benefits to individuals and employers, as well as Government Program beneficiaries. UnitedHealthcare is dedicated to improving the value customers and consumers receive by improving health and wellness, enhancing the quality of care received, simplifying the health care experience and reducing the total cost of care.

Quarterly Financial Performance

Three Months Ended

June 30,

2026

June 30,

2025

March 31,

2026

Revenues

$86.0 billion

$86.1 billion

$86.3 billion

Earnings from Operations

$3.9 billion

$2.1 billion

$5.7 billion

Operating Margin

4.6%

2.4%

6.6%

UnitedHealthcare

UnitedHealthcare continues to improve the consumer experience, including by expanding care access and digital services, simplifying prior approvals and offering greater support to rural hospitals and care providers. UnitedHealthcare second quarter 2026 revenues of $86.0 billion compared to $86.1 billion in the second quarter 2025. UnitedHealthcare served 48.5 million people in the second quarter 2026, down 525,000 sequentially. UnitedHealthcare’s second quarter 2026 earnings from operations were $3.9 billion and operating margin was 4.6% compared to $2.1 billion and 2.4% in second quarter 2025. The year-over-year increase was driven by medical and operating cost management, pricing discipline and benefit design changes. UnitedHealthcare Employer & Individual

UnitedHealthcare Employer & Individual second quarter 2026 revenues were $20.0 billion compared to $19.8 billion in the second quarter 2025. The number of people served contracted by 145,000 in the second quarter 2026 due to attrition in employer self-funded and fully-insured products. UnitedHealthcare Medicare & Retirement

UnitedHealthcare Medicare & Retirement second quarter 2026 revenues were $42.4 billion compared to $42.6 billion in the second quarter 2025 due to fewer seniors served. Seniors served through Medicare Advantage, including programs serving complex populations included in Medicaid, have contracted by 965,000 since year-end 2025. UnitedHealthcare Community & State

UnitedHealthcare Community & State second quarter 2026 revenues were $23.6 billion compared to $23.7 billion in the second quarter 2025. People served contracted by 380,000 in the second quarter 2026 primarily due to the planned exit from the Louisiana health plan, as well as ongoing Medicaid eligibility requirements. Optum Second Quarter 2026 Results

The Optum businesses serve participants throughout health care, including payers, care providers, employers, governments, life sciences companies and consumers. Using market-leading information, analytics and technology to yield clinical insights, Optum helps improve overall health system performance by optimizing care quality, reducing care costs and improving the consumer experience.

Quarterly Financial Performance

Three Months Ended

June 30,

2026

June 30,

2025

March 31,

2026

Revenues

$65.7 billion

$67.2 billion

$63.7 billion

Earnings from Operations

$4.0 billion

$3.1 billion

$3.3 billion

Operating Margin

6.2%

4.6%

5.2%

Optum Health

Optum Health continues to show steady momentum, with ongoing improvements in access to care and clinical and operational discipline driving better patient outcomes, increased provider satisfaction and cost management savings as the business recenters on its integrated value-based care delivery model. Optum Health’s second quarter 2026 revenues of $23.5 billion decreased 5% year-over-year due to ~700,000 fewer value-based care patients served. Second quarter 2026 earnings from operations were $1.2 billion, representing a 5.1% operating margin. The year-over-year increase was driven by strong operational improvements and medical cost management. Optum Insight

Optum Insight continues to bring AI-enabled products and services to the market, including autonomous coding and digital prior authorization tools, and completed its acquisition of Alegeus on July 2, 2026, expanding the company's consumer-directed healthcare account capabilities. Optum Insight reported second quarter 2026 revenues of $5.4 billion. Second quarter 2026 earnings from operations were $1.4 billion compared to $1.2 billion in the second quarter 2025. The year-over-year increase was driven by operational improvements and timing of contracts. Optum Rx

Optum Rx is leading an industry-wide shift toward greater transparency and affordability through a modern pharmacy care model that eliminates spread pricing, replaces volume-based incentives with clearly defined per-member fees and provides full disclosure of manufacturer payments. Optum Rx’s second quarter 2026 revenues were $38.3 billion compared to $38.5 billion in second quarter 2025. Earnings from operations for the second quarter 2026 were $1.5 billion compared to $1.4 billion in the second quarter 2025, reflecting specialty generics adoption and continued operational improvements. Adjusted scripts were 387 million compared to 414 million last year due to membership declines within UnitedHealthcare and other customers. UnitedHealth Group 2026 Outlook

($ and weighted-average shares in millions; except per share data)

As of
January 27, 2026

As of
July 16, 2026

Operating Earnings

UnitedHealthcare

> $10,800

> $12,000

Optum Health

> $2,200

> $2,275

Optum Insight

> $4,750

> $4,925

Optum Rx

> $6,250

> $6,250

Optum

> $13,200

> $13,450

UnitedHealth Group

> $24,000

> $25,450

Net Earnings to UNH Shareholders

> $15,600

> $16,750

Diluted Net Earnings per Share to UNH Shareholders

> $17.10

$18.45 - $18.95

Adjusted Earnings per Share (1)

> $17.75

$19.50 - $20.00

Medical Care Ratio

88.8% ± 50 bps

88.1% ± 25 bps

Tax Rate

~19.25%

~18.5%

Cash Flows from Operations

> $18,000

~$24,000

Share Repurchase

~$2,500

At Least $5,000

  (1) Refer to page 16 of this release for a reconciliation of non-GAAP measures.

Below outlines the 2026 Reported to Adjusted Earnings Bridge for Optum as of July 16, 2026.

Optum 2026 Reported to Adjusted Earnings Bridge

($ in millions)

Optum Health

Optum Insight

Optum Rx

Total Optum

2026 Reported Operating Earnings Guidance

> $2,275 (1)

> $4,925

> $6,250

> $13,450

Net Portfolio Divestitures, Restructuring and Other

$345

$(175)

-

$170

Net Change in Third Party Loss Contracts

$(405)

-

-

$(405)

2026 Adjusted Operating Earnings

> $2,215

> $4,750

> $6,250

> $13,215

Adjusted Operating Earnings as of January 27, 2026

> $1,577

> $4,750

> $6,250

> $12,577

  (1) Optum Health includes $405 million of 2026 operating earnings related to the net change in loss contracts reserve, which will be excluded from adjusted operating earnings and adjusted earnings per share.

About UnitedHealth Group

UnitedHealth Group (NYSE: UNH) is a health care and well-being company with a mission to help people live healthier lives and help make the health system work better for everyone through two distinct and complementary businesses. Optum delivers care aided by technology and data, empowering people, partners and providers with the guidance and tools they need to achieve better health. UnitedHealthcare offers a full range of health benefits, enabling affordable coverage, simplifying the health care experience and delivering access to high-quality care. Visit UnitedHealth Group at www.unitedhealthgroup.com and follow UnitedHealth Group on LinkedIn.

Earnings Conference Call

As previously announced, UnitedHealth Group will discuss the company’s results, strategy and future outlook on a conference call with investors at 8:00 a.m. Eastern Time today. UnitedHealth Group will host a live webcast of this conference call from the Investor Relations page of the company’s website (www.unitedhealthgroup.com). Following the call, a webcast replay will be on the Investor Relations page through July 30, 2026. This earnings release and the Form 8-K dated July 16, 2026, can also be accessed from the Investor Relations page of the company’s website.

Non-GAAP Financial Information

This news release presents non-GAAP financial information provided as a complement to the results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”). A reconciliation of the non-GAAP financial information to the most directly comparable GAAP financial measure is provided in the accompanying tables found at the end of this release.

Forward-Looking Statements

The statements, estimates, projections, guidance or outlook contained in this document include “forward-looking” statements which are intended to take advantage of the “safe harbor” provisions of the federal securities laws. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “forecast,” “outlook,” “plan,” “project,” “should” and similar expressions identify forward-looking statements. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. Actual results could differ materially from those that management expects, depending on the outcome of certain factors including: our ability to effectively estimate, price for and manage medical costs; new or changes in existing health care laws or regulations, or their enforcement or application; cyberattacks, other privacy/data security incidents, or our failure to comply with related regulations; reductions in revenue or delays to cash flows received under government programs; changes in Medicare, the CMS star ratings program or the application of risk adjustment data validation audits; our ability to successfully execute initiatives designed to simplify and improve the consumer healthcare experience; our ability to effectively execute our value-based care strategies; the DOJ’s legal actions concerning our participation in the Medicare program; our ability to maintain and achieve improvement in quality scores impacting revenue; failure to maintain effective and efficient information systems or if our technology products do not operate as intended; risks and uncertainties associated with our businesses providing pharmacy care services; competitive pressures, including our ability to maintain or increase our market share; changes in or challenges to our public sector contract awards; failure to achieve targeted operating cost productivity improvements; failure to develop and maintain satisfactory relationships with health care payers, physicians, hospitals and other service providers; the impact of potential changes in tax laws and regulations; increases in costs and other liabilities associated with litigation, government investigations, audits or reviews; risks and uncertainties associated with our increasing use of artificial intelligence and other emerging technologies; failure to complete, manage or integrate strategic transactions; risks and uncertainties associated with the sale of our remaining operations in South America; risks associated with public health crises arising from large-scale medical emergencies, pandemics, natural disasters and other extreme events; failure to attract, develop, retain, and manage the succession of key employees and executives; our investment portfolio performance; impairment of our goodwill and intangible assets; failure to protect proprietary rights to our databases, software and related products; downgrades in our credit ratings; and our ability to obtain sufficient funds from our regulated subsidiaries or from external financings to fund our obligations, reinvest in our business, maintain our debt to total capital ratio at targeted levels, maintain our quarterly dividend payment cycle, or continue repurchasing shares of our common stock.

This above list is not exhaustive. We discuss these matters, and certain risks that may affect our business operations, financial condition and results of operations, more fully in our filings with the SEC, including our reports on Forms 10-K, 10-Q and 8-K. By their nature, forward-looking statements are not guarantees of future performance or results and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Actual results may vary materially from expectations expressed or implied in this document or any of our prior communications. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update or revise any forward-looking statements, except as required by law.

UNITEDHEALTH GROUP

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share data; unaudited)

  Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Revenues

Premiums

$86,956

$87,905

$174,517

$174,439

Products

13,835

13,564

27,085

26,600

Services

10,018

9,039

19,797

18,011

Investment and other income

1,223

1,108

2,354

2,141

Total revenues

112,032

111,616

223,753

221,191

Operating costs

Medical costs

75,358

78,585

148,847

151,996

Operating costs

14,268

13,778

29,658

27,372

Cost of products sold

13,375

13,019

26,198

25,409

Depreciation and amortization

1,040

1,084

2,069

2,145

Total operating costs

104,041

106,466

206,772

206,922

Earnings from operations

7,991

5,150

16,981

14,269

Interest expense

(962)

(1,027)

(1,917)

(2,025)

Loss on sale of subsidiary and subsidiaries held for sale

(61)

(41)

(133)

(56)

Earnings before income taxes

6,968

4,082

14,931

12,188

Provision for income taxes

(1,298)

(510)

(2,780)

(2,142)

Net earnings

5,670

3,572

12,151

10,046

Earnings attributable to noncontrolling interests

(186)

(166)

(387)

(348)

Net earnings attributable to UnitedHealth Group common shareholders

$5,484

$3,406

$11,764

$9,698

Diluted earnings per share attributable to UnitedHealth Group common shareholders (a)

$6.04

$3.74

$12.94

$10.61

Adjusted earnings per share attributable to UnitedHealth Group common shareholders (b)

$6.38

$4.08

$13.61

$11.29

Diluted weighted-average common shares outstanding

906

910

908

914

UNITEDHEALTH GROUP

CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions; unaudited)

  June 30,
2026

December 31,
2025

Assets

Cash and short-term investments

$31,468

$28,121

Accounts receivable, net

21,573

23,018

Other current assets

33,819

39,443

Total current assets

86,860

90,582

Long-term investments

57,716

54,251

Other long-term assets

165,151

164,748

Total assets

$309,727

$309,581

Liabilities, redeemable noncontrolling interests and equity

Medical costs payable

$38,930

$39,337

Short-term borrowings and current maturities of long-term debt

3,827

6,069

Other current liabilities

69,063

69,491

Total current liabilities

111,820

114,897

Long-term debt, less current maturities

69,501

72,320

Other long-term liabilities

22,457

20,666

Redeemable noncontrolling interests

1,436

1,608

Equity

104,513

100,090

Total liabilities, redeemable noncontrolling interests and equity

$309,727

$309,581

UNITEDHEALTH GROUP

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions; unaudited)

  Six Months Ended
June 30,

2026

2025

Operating Activities

Net earnings

$12,151

$10,046

Noncash items:

Depreciation and amortization

2,069

2,145

Deferred income taxes and other

176

40

Share-based compensation

624

572

Loss on sale of subsidiary and subsidiaries held for sale

133

56

Net changes in operating assets and liabilities

4,811

(215)

Cash flows from operating activities

19,964

12,644

Investing Activities

(Purchases of investments, net of sales and maturities) sales and maturities of investments, net of purchases

(2,751)

1,327

Purchases of property, equipment and capitalized software

(1,562)

(1,784)

Cash paid for acquisitions and other transactions, net

(98)

(734)

Repayment of care provider loans - cyberattack

197

1,293

Other, net

(31)

(1,618)

Cash flows used for investing activities

(4,245)

(1,516)

Financing Activities

Common share repurchases

(1,646)

(5,545)

Dividends paid

(4,092)

(3,912)

Net change in short-term borrowings and long-term debt

(4,813)

1,566

Other, net

(1,064)

43

Cash flows used for financing activities

(11,615)

(7,848)

Effect of exchange rate changes on cash and cash equivalents

(3)

29

Increase in cash and cash equivalents, including cash within businesses held for sale

4,101

3,309

Less: net change in cash within businesses held for sale

119

(25)

Net increase in cash and cash equivalents

4,220

3,284

Cash and cash equivalents, beginning of period

24,365

25,312

Cash and cash equivalents, end of period

$28,585

$28,596

UNITEDHEALTH GROUP

REVENUES BY BUSINESS - SUPPLEMENTAL FINANCIAL INFORMATION

(in millions; unaudited)

  Optum

UnitedHealth
Group
Consolidated (a)

UnitedHealthcare

Optum
Health (c)

Optum
Insight (c)

Optum
Rx

Total
Optum (a)

Three Months Ended June 30, 2026

Total revenues

$86,017

$23,472

$5,402

$38,292

$65,663

$112,032

Restructuring and other (2)

—

(1)

—

—

(1)

(1)

Adjusted revenues (b)

$86,017

$23,471

$5,402

$38,292

$65,662

$112,031

Three Months Ended June 30, 2025

Total revenues

$86,103

$24,725

$5,232

$38,459

$67,225

$111,616

Six Months Ended June 30, 2026

Total revenues

$172,282

$47,581

$10,527

$74,028

$129,412

$223,753

Restructuring and other (2)

—

2

(77)

—

(75)

(75)

Adjusted revenues (b)

$172,282

$47,583

$10,450

$74,028

$129,337

$223,678

Six Months Ended June 30, 2025

Total revenues

$170,720

$49,562

$10,259

$73,591

$131,110

$221,191

UnitedHealthcare Revenues

(in millions; unaudited)

  Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

UnitedHealthcare Employer & Individual - Domestic

$19,048

$18,950

$38,254

$38,016

UnitedHealthcare Employer & Individual - Global

944

819

1,856

1,601

UnitedHealthcare Employer & Individual - Total

19,992

19,769

40,110

39,617

UnitedHealthcare Medicare & Retirement

42,390

42,623

84,472

84,328

UnitedHealthcare Community & State

23,635

23,711

47,700

46,775

Total UnitedHealthcare revenues

$86,017

$86,103

$172,282

$170,720

(a)

Optum and consolidated revenues for the three months ended June 30, 2026 and 2025 include Optum eliminations of $1,503 and $1,191; and corporate eliminations of $39,648 and $41,712, respectively. Optum and consolidated revenues for the six months ended June 30, 2026 and 2025 include Optum eliminations of $2,724 and $2,302; and corporate eliminations of $77,941 and $80,639, respectively.

(b)

See page 16 for description of non-GAAP measures.

(c) Prior period amounts have been recast to reflect the realignment of Optum Financial. Note: See end notes for further information regarding non-GAAP adjustments.

UNITEDHEALTH GROUP

EARNINGS BY BUSINESS - SUPPLEMENTAL FINANCIAL INFORMATION

(in millions, except percentages; unaudited)

  Optum

UnitedHealth
Group
Consolidated

UnitedHealthcare

Optum
Health (b)

Optum
Insight (b)

Optum
Rx

Total
Optum

Three Months Ended June 30, 2026

Earnings from operations

$3,942

$1,190

$1,369

$1,490

$4,049

$7,991

Net portfolio divestitures and South American impacts (1)

—

35

4

—

39

39

Restructuring and other (2)

—

(51)

—

—

(51)

(51)

Adjusted earnings from operations (a)

$3,942

$1,174

$1,373

$1,490

$4,037

$7,979

Operating margin

4.6 %

5.1 %

25.3 %

3.9 %

6.2 %

7.1 %

Adjusted operating margin (a)

4.6 %

5.0 %

25.4 %

3.9 %

6.1 %

7.1 %

Three Months Ended June 30, 2025

Earnings from operations

$2,075

$429

$1,205

$1,441

$3,075

$5,150

Operating margin

2.4 %

1.7 %

23.0 %

3.7 %

4.6 %

4.6 %

Six Months Ended June 30, 2026

Earnings from operations

$9,636

$2,331

$2,332

$2,682

$7,345

$16,981

Net portfolio divestitures and South American impacts (1)

—

341

(524)

(8)

(191)

(191)

Restructuring and other (2)

—

(186)

339

—

153

153

Adjusted earnings from operations (a)

$9,636

$2,486

$2,147

$2,674

$7,307

$16,943

Operating margin

5.6 %

4.9 %

22.2 %

3.6 %

5.7 %

7.6 %

Adjusted operating margin (a)

5.6 %

5.2 %

20.5 %

3.6 %

5.6 %

7.6 %

Six Months Ended June 30, 2025

Earnings from operations

$7,301

$1,840

$2,369

$2,759

$6,968

$14,269

Operating margin

4.3 %

3.7 %

23.1 %

3.7 %

5.3 %

6.5 %

UNITEDHEALTH GROUP

PEOPLE SERVED AND PERFORMANCE METRICS - SUPPLEMENTAL FINANCIAL INFORMATION

(unaudited)

UnitedHealthcare Customer Profile

(in thousands)

  People Served

June 30, 2026

March 31, 2026

December 31, 2025

June 30, 2025

Commercial:

Risk-based

7,655

7,725

8,165

8,440

Fee-based

22,265

22,340

21,485

21,530

Total Commercial

29,920

30,065

29,650

29,970

Medicare Advantage

7,565

7,555

8,445

8,350

Medicaid

6,780

7,160

7,380

7,490

Medicare Supplement (Standardized)

4,260

4,270

4,285

4,305

Total Community and Senior

18,605

18,985

20,110

20,145

Total UnitedHealthcare - Medical

48,525

49,050

49,760

50,115

Supplemental Data

Medicare Part D stand-alone

2,710

2,740

2,770

2,800

South American businesses held for sale

1,145

1,160

1,160

1,165

Optum Performance Metrics

  June 30, 2026

March 31, 2026

December 31, 2025

June 30, 2025

Optum Health Consumers Served (in millions) (a)

93

93

92

95

Optum Rx Quarterly Adjusted Scripts (in millions)

387

383

424

414

UNITEDHEALTH GROUP

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(in millions, except per share data; unaudited)

Adjusted Net Earnings Per Share

  Three Months Ended
June 30,

Six Months Ended
June 30,

Projected
Year Ended
December 31,

2026

2025

2026

2025

2026

Net earnings attributable to UnitedHealth Group common shareholders

$5,484

$3,406

$11,764

$9,698

> $16,750

Intangible amortization

346

409

680

826

~1,345

Net portfolio divestitures and South American impacts (1)

100

—

(58)

—

~(35)

Restructuring and other (2)

(51)

—

153

—

~(50)

Tax effect of adjustments

(87)

(99)

(169)

(201)

~(285)

Adjusted net earnings attributable to UnitedHealth Group common shareholders

$5,792

$3,716

$12,370

$10,323

> $17,725

Diluted earnings per share

$6.04

$3.74

$12.94

$10.61

$18.45 to $18.95

Intangible amortization per share

0.38

0.45

0.75

0.90

~1.50

Net portfolio divestitures and South American impacts per share

0.11

—

(0.06)

—

~(0.05)

Restructuring and other per share

(0.06)

—

0.17

—

~(0.05)

Tax effect of adjustments per share

(0.09)

(0.11)

(0.19)

(0.22)

~(0.35)

Adjusted diluted earnings per share

$6.38

$4.08

$13.61

$11.29

$19.50 to $20.00

More News From UnitedHealth Group

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UnitedHealth Group on Thursday posted second-quarter earnings that blew past estimates and raised its full-year profit outlook, as the company better manages high medical costs and uses AI to help streamline operations. 

The largest private insurer in the U.S. said it expects 2026 adjusted earnings of $19.50 to $20 per share, up from a previous outlook of more than $18.25 per share. UnitedHealth is maintaining its full-year revenue guidance of greater than $439 billion. But CFO Wayne DeVeydt said in an interview that he expects the company to "do better than that" given the second-quarter beat. 

Still, he said medical costs in the quarter remained "elevated over historical levels" – an issue that has dogged the broader insurance industry for more than two years.

"These results are not a reflection of trend bending or coming under control, but rather our efforts to start pushing down what is already an elevated number," DeVeydt said. 

Here's what the company reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Earnings per share: $6.38 adjusted vs. $4.90 expectedRevenue: $112.03 billion vs. $110.85 billion expectedThe company's stock jumped about 7% in premarket trading.

UnitedHealth's turnaround plan is gaining momentum following restructuring and an executive shuffle designed to counter challenges in the industry. The healthcare giant is working to stabilize margins by shrinking membership, exiting unprofitable contracts and pouring $1.5 billion into artificial intelligence to streamline operations. 

DeVeydt said the company is using AI to improve both efficiency and patient care. For example, AI is helping speed up processes like prior authorizations and improve payment accuracy by detecting potential fraud, waste and abuse. That can help lower costs while improving patient care. AI tools are not determining whether care is approved or denied, he said. 

"I would say the turnaround, and I would emphasize that on our culture, it's really happening … that turnaround is translating to strong, strong earnings," DeVeydt told reporters. "So it shows that when we can do things the way we think they should be done, that we can be both a solution and be profitable."

But he emphasized that the turnaround is a "multi-year journey."

The company posted second-quarter net income of $5.48 billion, or $6.04 per share, compared with $3.41 billion, or $3.74 per share, in the same period a year ago. Excluding items like business divestitures, restructuring and the expected reduction of reserves for unprofitable contracts, UnitedHealth earned $6.38 per share.

Revenue climbed to $112.03 billion from $111.62 billion in the prior-year quarter. The company's insurer, UnitedHealthcare, and its Optum health-care unit both topped analysts' sales estimates for the quarter, according to StreetAccount. 

UnitedHealth said rising healthcare costs are forcing insurers to raise premiums and adjust benefits, which is contributing to membership losses in both ACA exchange plans and privately run Medicare Advantage plans. The company said revenue has remained stable because higher pricing is offsetting the decline in enrollment.

But DeVeydt said that dynamic "is not a good thing for the system long term."

UnitedHealthcare served 48.5 million people in the second quarter, down 525,000 from the previous quarter. DeVeydt attributed membership declines largely to affordability pressures driven by higher healthcare costs, forecasting a loss of roughly 500,000 ACA exchange members and 1.1 million Medicare Advantage members in 2026.

Insurers, particularly those that run Medicare Advantage plans, have been pinched by an influx of people seeking care they delayed post-pandemic and high-cost specialty drugs like GLP-1s, among other factors. 

But UnitedHealth's medical benefit ratio — a measure of total medical expenses paid relative to premiums collected — came in at 86.7% for the second quarter. That's an improvement from the 89.4% reported in the year-earlier period. A lower ratio typically indicates that the company collected more in premiums than it paid out in benefits, resulting in higher profitability.

Analysts were expecting a ratio of 88.5% for the quarter, according to StreetAccount.

The results come about a year after UnitedHealth revealed it is facing Department of Justice investigations over its Medicare billing practices.

DeVeydt said the company has no updates but continues to be "supportive" of the probe.

The health insurance giant raised its profit guidance for the second time this year

The healthcare giant posts better-than-expected second-quarter earnings and hikes its full-year guidance.

UnitedHealth Group raised its full-year profit outlook on Thursday after reporting second-quarter earnings that comfortably exceeded Wall Street expectations, signalling that the health insurer's turnaround efforts are beginning to gain traction even as elevated medical costs continue to weigh on the broader industry.

Shares of the company rose more than 6% in premarket trading after the largest private health insurer in the United States posted stronger-than-expected earnings, improved profitability, and a lower medical cost ratio.

The company now expects adjusted earnings of $19.50 to $20 per share in 2026, up from its previous guidance of more than $18.25 per share.

It maintained its revenue outlook of more than $439 billion, although Chief Financial Officer Wayne DeVeydt said he expects the company to outperform that target following the stronger second-quarter results.

For the quarter ended June, UNH reported adjusted earnings of $6.38 per share on revenue of $112.03 billion.

Analysts surveyed by LSEG had expected earnings of $4.90 per share on revenue of $110.85 billion.

Net income rose to $5.48 billion, or $6.04 per share, compared with $3.41 billion, or $3.74 per share, a year earlier.

Excluding restructuring costs, business divestitures, and reserve adjustments related to unprofitable contracts, adjusted earnings came in at $6.38 per share.

One of the key metrics watched by investors also improved significantly.

The company's medical cost ratio, which measures the percentage of premium revenue spent on healthcare claims, declined to 86.7% from 89.4% a year earlier.

The result was well below analysts' estimate of 88.47%.

DeVeydt attributed the improvement to tighter cost controls within the Medicare Advantage business and higher reimbursement rates for Medicaid plans covering lower-income Americans.

However, he cautioned that healthcare costs remain historically elevated.

"These results are not a reflection of trend bending or coming under control, but rather our efforts to start pushing down what is already an elevated number," DeVeydt said.

UnitedHealth said artificial intelligence is becoming an increasingly important part of its multi-year turnaround strategy.

The company has committed roughly $1.5 billion toward AI initiatives designed to improve efficiency, strengthen payment accuracy and reduce fraud, waste and abuse.

According to DeVeydt, AI is also helping accelerate administrative processes such as prior authorisations while improving the quality of patient care.

He stressed that AI tools are not being used to decide whether patient treatments are approved or denied.

"I would say the turnaround, and I would emphasize that on our culture, it's really happening … that turnaround is translating to strong, strong earnings," DeVeydt told reporters.

"So it shows that when we can do things the way we think they should be done, that we can be both a solution and be profitable."

Even so, he described the recovery as "a multi-year journey."

The company has been restructuring operations, reducing membership in less profitable businesses and exiting contracts that have weighed on margins.

Despite the stronger earnings, UnitedHealth acknowledged that rising healthcare costs continue to create affordability challenges for consumers.

The company served 48.5 million members during the quarter, down about 525,000 from the previous three months.

DeVeydt said higher insurance premiums and benefit changes have contributed to declining enrollment in both Affordable Care Act exchange plans and Medicare Advantage products.

He expects the company to lose approximately 500,000 exchange members and 1.1 million Medicare Advantage members during 2026.

While pricing increases have largely offset the decline in membership and kept revenue stable, DeVeydt warned the trend is not sustainable.

"But that dynamic is not a good thing for the system in the long term," he said.

The broader health insurance industry continues to grapple with higher healthcare utilisation as patients seek treatments delayed during the pandemic, along with rising costs associated with specialty medicines such as GLP-1 weight-loss drugs.

Analysts remain optimisticDespite the industry's challenges, Wall Street has become increasingly positive on UnitedHealth's prospects.

The stock has gained roughly 25% this year after the company exceeded first-quarter expectations and outlined plans to restore profitability.

Piper Sandler recently raised its price target to $475 from $420 while maintaining an Overweight rating, implying 13.5% upside from current levels.

The brokerage said it expects UnitedHealth to return to its historical long-term adjusted earnings growth rate of 13% to 16% by 2027.

Bank of America also upgraded the stock to Buy last month and increased its price target to $450 from $420, citing improving insurance utilisation trends.

Morgan Stanley recently lifted its target price to $468 from $453, saying UnitedHealth's results should "set a positive tone" for the healthcare sector and that the company's AI investments could deliver meaningful cost savings over time.

According to Visible Alpha, eight of the nine analysts covering the company currently recommend buying the stock, although its recent rally has already pushed the shares above the consensus price target of about $427.

It's the first pill that lowers blood cholesterol far better than statins—medicines that a quarter of adults take to reduce their risk of heart attack and stroke.

Merck said on Thursday the U.S. FDA has approved its cholesterol pill, the first of its kind to receive the health regulator's ​nod, bolstering the drugmaker's efforts to diversify beyond its blockbuster ‌cancer treatment Keytruda.

Key Takeaways Marathon Petroleum posted $1.4B Refining & Marketing adjusted EBITDA in Q1 2026.MPC achieved 99% refining margin capture despite completing nearly 40% of planned annual maintenance.MPC benefits from domestic crude sourcing, logistics flexibility and higher-margin jet fuel projects. The current refining market remains highly supportive for U.S. refiners, and Marathon Petroleum Corporation (MPC - Free Report) is emerging as a clear beneficiary. Geopolitical tensions in the Middle East have disrupted global fuel supply, while strong demand for gasoline, diesel and jet fuel has kept crack spreads elevated. At the same time, constrained global refining capacity and robust export demand continue to create a favorable pricing environment, allowing efficient refiners to capture stronger margins.

Marathon Petroleum is among the biggest beneficiaries of these conditions. During the first quarter of 2026, the company generated $1.4 billion in Refining & Marketing adjusted EBITDA, with refining margin capture reaching 99% despite completing nearly 40% of its planned annual maintenance. Its refineries operated at 89% utilization, reflecting disciplined operations and strong commercial execution.

The company's advantage extends beyond favorable industry conditions. Marathon Petroleum sources most of its crude from the United States and Canada, reducing exposure to global supply disruptions while enabling it to capitalize on attractive domestic feedstock economics. Its integrated logistics network also allows rapid adjustments in crude sourcing, product yields and exports, helping maximize profitability as market conditions evolve.

Strategic investments further strengthen this position. The recently completed Garyville jet fuel expansion and upcoming yield-improvement projects increase exposure to higher-margin products, particularly jet fuel and diesel, where demand remains healthy. Combined with strong planning, operational reliability and commercial optimization, these initiatives position Marathon Petroleum to sustain superior refining margins even as market volatility persists.

Other Energy Players Benefiting From Current Refining MarginsValero Energy Corporation (VLO - Free Report)  is among the largest independent refiners in the United States, with a combined high-complexity throughput capacity of nearly 3 million barrels per day across its refineries. VLO's refining footprint is heavily concentrated along the U.S. Gulf Coast and the Midcontinent, offering feedstock sourcing flexibility, with management emphasizing that crude availability is not a significant constraint for the company. Moreover, its Gulf Coast access enables it to sell refined products in high-demand markets and capitalize on the current increase in export demand for distillates driven by the supply disruptions in the Middle East. This positions Valero to benefit from elevated refining margins and strong international demand for refined products.

Phillips 66 (PSX - Free Report)  is well-positioned to benefit from the current refining environment through its diversified refining, midstream and chemicals businesses. Supply disruptions in the Middle East, particularly around the Strait of Hormuz, are expected to keep refined product markets tight, supporting stronger margins for U.S. refiners. Robust jet fuel demand and lower product inventories further reinforce favorable market conditions. The company also sources most of its crude from Canada, the United States and Latin America, limiting Middle East supply risks. However, the sharp increase in commodity prices had a significant downside. In the first quarter of 2026, Phillips 66 reported $839 million in pre-tax mark-to-market losses on its short derivative positions, including $396 million in its Refining business. The company explained that these hedging losses were linked to its physical inventory. While rising prices increased the value of the inventories, that gain was not recorded at the same time because of the LIFO (last in, first out) accounting method, creating a temporary mismatch in reported earnings.

The Zacks Rundown on Marathon PetroleumShares of Marathon Petroleum displayed a staggering rally of 72.7% in the past six months, compared with the Oil/Energy sector’s gain of 17.2%.

Image Source: Zacks Investment Research

From a valuation perspective — in terms of forward price-to-sales ratio — MPC is trading at a discount of 0.64X compared with the industry average of 1.34X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for MPC’s 2026 earnings is pegged at $33 per share, indicating 208.4% year-over-year growth.

Image Source: Zacks Investment Research

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

(We are reissuing this article to correct a mistake. The original article, issued on July 15, 2026, should no longer be relied upon.) 

KANSAS CITY, Mo.--(BUSINESS WIRE)--Commerce Bancshares, Inc. announced earnings of $1.10 per share for the three months ended June 30, 2026, compared to $1.09 per share in the same quarter last year and $.96 per share in the first quarter of 2026. Net income for the second quarter of 2026 amounted to $159.8 million, compared to $152.5 million in the second quarter of 2025 and $141.6 million in the prior quarter. For the six months ended June 30, 2026, earnings per share totaled $2.06 compared t.

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

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

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In First Solar To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in First Solar between February 26, 2025 and February 24, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - July 16, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against First Solar, Inc. ("First Solar" or the "Company") (NASDAQ: FSLR) and reminds investors of the August 24, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Defendants had overstated First Solar's capacity to manage the impact of U.S. tariff policy on the Company's business; (2) Defendants understated the extent to which its responses to U.S. tariff policy, including the intentional underutilization of production facilities in Malaysia and Vietnam, and attempted relocation of production to the U.S., were likely to negatively impact First Solar's projected performance in the 2026 fiscal year; and (3) as a result, Defendants' public statements were materially false and misleading at all relevant times.

The truth began to emerge on January 7, 2026, when Jefferies downgraded First Solar to Hold from Buy, noting that during 2025, the Company had lowered guidance, faced significant de-bookings and experienced margin compression through 2025. Jefferies also flagged that "[international] facilities remain a pain point while tariffs exist" and "underutilization at [international] facilities remains a concern." The Jefferies analyst also predicted that First Solar's deployment opportunities were likely to be more limited in 2026.

On this news, First Solar's stock price fell $27.67 per share, or 10.29%, to close at $241.11 per share on January 7, 2026.

Then, on February 24, 2026, First Solar issued a press release "announc[ing] financial results for the fourth quarter and year ended December 31, 2025." Among other items, First Solar announced earnings that missed expectations by a wide margin and issued lower-than-expected FY 2026 revenue guidance, citing customer headwinds such as permitting delays under the Trump administration. Following First Solar's announcement, Baird Research downgraded its stock to Neutral from Outperform, citing "several question marks in forward outlook".

On this news, First Solar's stock price fell $33.09 per share, or 13.61%, to close at $210.12 per share on February 25, 2026.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding First Solar's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the First Solar, Inc. class action, go to www.faruqilaw.com/FSLR or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Frequently Asked Questions (FAQ) for Investors Regarding the First Solar, Inc. Securities Class Action Lawsuit:

What is the First Solar securities fraud lawsuit about?

The lawsuit alleges that First Solar, Inc. and certain executives violated federal securities laws by making false or misleading statements and failing to disclose material information regarding the impact of U.S. tariff policies, production facility utilization, and risks to the Company's projected 2026 financial performance.

Who may be eligible to participate in the lawsuit?

Investors who purchased or otherwise acquired First Solar (NASDAQ: FSLR) securities during the applicable Class Period and suffered losses may be eligible to participate in the securities class action. Eligibility will depend on the specific circumstances of each investor's transactions and losses.

What is a lead plaintiff, and how can I seek appointment?

A lead plaintiff is a court-appointed representative who acts on behalf of all class members in directing the litigation. Any eligible investor may seek appointment as lead plaintiff by filing the appropriate motion with the court on or before the August 24, 2026 deadline.

What should investors do if they purchased First Solar stock during the Class Period?

Investors who purchased First Solar securities during the Class Period and experienced losses should review their legal rights and options. They may contact counsel to discuss the lawsuit, determine whether they qualify to participate, and learn more about seeking appointment as lead plaintiff before the applicable deadline.

Why should investors contact Faruqi & Faruqi, LLP?

Faruqi & Faruqi, LLP has represented investors in securities litigation for decades and has recovered hundreds of millions of dollars for shareholders. Investors who purchased First Solar securities during the Class Period may contact the firm to discuss their legal rights, potential claims, and the lead plaintiff process at no cost or obligation.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305333

Source: Faruqi & Faruqi LLP

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Palantir (PLTR +0.01%) and Nvidia (NVDA +0.29%) made a big announcement the other day that flew under many investors' radars. Nvidia and Palantir said they formed a partnership to deploy sovereign artificial intelligence (AI) for government agencies.

Why is that a big deal? Well, government agencies can't just plug information into a model like Gemini or ChatGPT as most others can. That's because the information put into these generative AI models is retained by the companies that run them, so sensitive information could be entered that could have national security implications.

Palantir and Nvidia's announcement remedies that situation and clears the way for these two to build the future of AI for government agencies. This is a big deal, but which company benefits most? Let's take a look.

Image source: Getty Images.

Palantir is using Nvidia's base model Nvidia has an open AI model called Nemotron that is perfect for deploying AI agents. It's an open model, so developers know what's going on in the background and can understand what it's doing. It works perfectly on Nvidia's computing platforms, and having companies use the Nemotron model as a base ensures that its hardware is being used to run AI workloads. When the client is the U.S. government, that's a huge contract to capture.

Today's Change

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212.41

Palantir will then use Nvidia's Nemotron model to develop tailored software for applications that its clients need. Palantir already has deep relationships in government and industry, making its software a trusted, go-to solution whenever a specific application is needed. This partnership should help boost Palantir's government business, leading to strong revenue growth.

Palantir is a much smaller business than Nvidia, and it generates more than half of its revenue from government sources. Nvidia has a much wider client base, and the AI hyperscalers are some of Nvidia's largest clients. However, AI could become so powerful for the federal government and its agencies that it would need to spend hundreds of billions of dollars on data centers like the AI hyperscalers, which could propel the U.S. government into becoming a large client of Nvidia's.

Today's Change

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0.01

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Palantir stands to benefit the most from this partnership, but Nvidia also has major upside depending on how widespread AI adoption becomes in the government. However, Palantir also needs this growth far more than Nvidia does.

Palantir's stock is expensive Switching over to looking at the stocks, one is valued higher than the other.

NVDA PE Ratio (Forward) data by YCharts

Palantir has a valuation four times that of Nvidia, and that's despite the two companies having the same growth rate in Q1: 85%. If I were to present an investor with these two stocks, growing at the same rate, yet one is valued four times higher than the other, most investors would choose the cheaper stock, and that's exactly what I think investors should do here.

The AI build-out is far from over, and there is still plenty of room for both Nvidia and Palantir to grow into this generational opportunity. However, if an appropriate long-term valuation for each stock is 25 times forward earnings, that calculation becomes much harder to justify for Palantir's stock.

Palantir must essentially increase its earnings by 350% after this year's growth. That's a lot of growth priced into the stock, and may make future gains difficult. On the flip side, Nvidia is much less richly valued, and any future growth will likely drive the stock higher. With 41% growth expected next year, that leaves a lot of room for upside during the next year.

This is a huge partnership for both companies, and Palantir stands to benefit more than Nvidia, but I still think that Nvidia stock is the better buy overall.

Micron Technology's (MU 7.72%) stock is up nearly 700% in the past year. The semiconductor company is currently benefiting from an unprecedented supply shortage in memory chips driven by demand for artificial intelligence infrastructure.

I predict Micron stock will hit $1,875 per share after the company reports financial results for fiscal 2027, which will happen sometime in September 2027. That implies about 91% upside from the current share price of $982. Here's my rationale.

Image source: The Motley Fool.

Micron is growing very quickly due to a severe memory chip supply shortage Micron develops memory and storage solutions for cloud and enterprise data centers, mobile devices and other consumer electronics, and automotive systems. Its portfolio includes dynamic random-access memory (DRAM), high-bandwidth memory (HBM), and NAND flash products. All three types of memory are critical for artificial intelligence.

Micron is not the leader in any category. It ranks as the third-largest supplier of DRAM, it is tied with SK Hynix as the second-largest supplier of HBM, and it is tied with Sandisk as the fourth-largest supplier of NAND, per Counterpoint Research. But Micron is still growing very quickly due to an unprecedented memory chip supply shortage created by demand for AI infrastructure.

Micron reported exceptional financial results for the third quarter of fiscal 2026 (ended in May). Revenue rose 345% as NAND and DRAM prices doubled from the previous year, and non-GAAP (adjusted) net income soared more than 1,200%. Guidance for the current quarter suggests revenue will increase 340% and adjusted net income will soar by more than 900%.

Today's Change

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%) $

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The memory chip industry has historically been defined by boom-and-bust cycles Memory chips have historically been one of the most cyclical semiconductor industries. The boom-and-bust dynamic works like this: Initially, some catalyst creates more demand than manufacturers can satisfy, driving memory prices higher. But supply eventually catches (and surpasses) demand because manufacturers inevitably produce too many chips, which forces them to cut prices.

Consider what happened during the COVID-19 pandemic: In 2021, memory chip sales surged during the transition to remote work as enterprises invested in cloud infrastructure and consumers bought computers and gaming consoles. But manufacturers oversupplied the market, so NAND and DRAM prices plunged about 70% when enterprise and consumer spending normalized by mid-2023.

Some analysts argue the current memory chip cycle is different, pointing to the 16 multiyear supply deals Micron has signed with customers, which offer some protection from the next downturn. But the four most dangerous words in investing are: This time is different. Several memory chipmakers have more production capacity coming online in 2027, so the imbalance in supply and demand could start closing in 2028.

Why Micron stock could hit $1,875 per share by late 2027 Micron trades at 12.4 times sales. That is a massive premium to the five-year average of 4.7 times sales. Of course, Micron's sales are growing very quickly, so the valuation is arguably justified. But history says the company's sales will drop (perhaps sharply) during the next downturn. For instance, Micron's sales fell 50% in fiscal 2023.

The stock market is forward-looking in nature. Investors will be looking through the cyclical peak in memory chip sales before the peak arrives, contemplating what Micron is worth in a downturn. If investors determine the company could lose substantial pricing power when additional memory chip supply hits the market in 2028, Micron's price-to-sales ratio could contract significantly in 2027.

So, I will assume Micron stock trades at 8.5 times sales in late 2027; I arrived at that figure by splitting the difference between the current valuation and the five-year average. The Wall Street consensus puts Micron's revenue at $250 billion in fiscal 2027 (ends in August). If the stock trades at 8.5 times sales, the company will be worth $2.1 trillion. That implies about 91% upside from its current market value of $1.1 trillion.

In turn, 91% upside implies the stock price will hit $1,875 per share by late 2027, up from $982 per share today. Of course, I made several assumptions to arrive at that prediction, some of which will probably prove incorrect. In particular, the market may afford Micron a lower valuation multiple by late 2027, one that more closely tracks the five-year average.

Micron stock is down 20% over the past month and there are a few factors hitting the memory-chip company.

HomeIndustriesTaiwan Semi to boost investment in the U.S.July 16, 2026, 5:32 a.m. ET

Shares in Taiwan Semiconductor Manufacturing Corp., or TSMC, declined on Thursday as investors likely sought to gain profit after a record quarter for the chipmaker giant, with expectations for the stock now “exceptionally high,” a fund manager warned.

The $2 trillion company reported a 77% boost in profit to a record high 706.6 billion new Taiwanese dollars ($22 billion) in its second quarter – far surpassing analysts’ estimates of 624 billion new Taiwanese dollars, according to data collected by FactSet. 

Taiwan Semiconductor Manufacturing Company Limited (TSM) Q2 2026 Earnings Call July 16, 2026 2:00 AM EDT

Company Participants

Jeff Su - Director of Investor Relations
Jen-Chau Huang - Senior VP & CFO
C.C. Wei - Chairman & CEO

Conference Call Participants

Sunny Lin - UBS Investment Bank, Research Division
Charlie Chan - Morgan Stanley, Research Division
Yu Jang Lai - Macquarie Research
Gokul Hariharan - JPMorgan Chase & Co, Research Division
Jim Fontanelli - Arete Research Services LLP
Mehdi Hosseini - Susquehanna Financial Group, LLLP, Research Division
Chia Yi Chen - Citigroup Inc., Research Division
Haas Liu - BofA Securities, Research Division
Robert Sanders - Deutsche Bank AG, Research Division
Evelyn Yu - Goldman Sachs Group, Inc., Research Division
Junhong Pan - KGI Securities Co. Ltd., Research Division

Presentation

Jeff Su
Director of Investor Relations

Good afternoon, everyone. And welcome to TSMC's Second Quarter 2026 Earnings Conference and Conference Call. This is Jeff Su, TSMC's Director of Investor Relations and your host for today.

Today's event is being webcast live through TSMC's website at www.tsmc.com, where you can also download the earnings release materials. [Operator Instructions]

The format for today's event will be as follows: First, TSMC's Senior Vice President and CFO, Mr. Wendell Huang, will summarize our operations in the second quarter 2026, followed by our guidance for the third quarter 2026. Afterwards, Mr. Huang and TSMC's Chairman and CEO, Dr. C.C. Wei, will jointly provide the company's key messages. Then we will open both the floor and the line for the question-and-answer session.

As usual, I'd like to remind everybody that today's discussions may contain forward-looking statements that are subject to significant risks and uncertainties, which could cause actual results to differ materially from those contained in the forward-looking statements. Please refer to the safe harbor notice that appears in our press release.

And now I would like to

AtaiBeckley's lead program, BPL-003, is designed to provide durable relief from treatment-resistant depression

Acquisition expands Lilly's neuroscience pipeline to address some of the most challenging conditions in mental health

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) and AtaiBeckley Inc. (Nasdaq: ATAI), a clinical-stage biopharmaceutical company developing innovative therapeutics for mental health conditions, today announced a definitive agreement for Lilly to acquire AtaiBeckley.

AtaiBeckley is advancing a pipeline of rapid-acting neuroplastogens, including multiple clinical-stage programs and a discovery pipeline of next-generation compounds. The lead asset, BPL-003 (mebufotenin benzoate), is a synthetic form of 5-MeO-DMT administered intranasally for treatment-resistant depression, which affects millions of people in the United States.

Emerging research indicates that treatment-resistant depression and other serious mental health conditions may involve a loss of synaptic plasticity, the brain's ability to form and strengthen connections in regions critical to mood regulation. AtaiBeckley's therapies are designed to restore synaptic connectivity and aim to promote the growth of new neural connections, offering a distinct mechanism from conventional antidepressants that primarily target neurotransmitter levels.

"Treatment-resistant depression persists even after multiple treatments have failed. Millions of people are still searching for relief and desperately need a therapy that works," said Carole Ho, executive vice president and president, Lilly Neuroscience. "Advancing AtaiBeckley's investigational therapies gives us a real chance to change that."

In a Phase 2b study, BPL-003 demonstrated rapid and durable reductions in depressive symptoms following an in-clinic visit lasting approximately two hours on average, with beneficial effects persisting for months. BPL-003 has been granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration and has initiated Phase 3 activities. VLS-01, the second most advanced program of the pipeline, is a buccal film formulation of DMT advancing in an ongoing Phase 2b study.

"Across our portfolio, we're seeking to demonstrate that psychiatric illness is treatable at its biological root, not just its symptoms," said Srinivas Rao, co-founder and chief executive officer of AtaiBeckley. "Lilly's expertise and reach are expected to accelerate that work for people whose conditions have not responded to existing treatments."

"From Atai's founding, our mission has been to bring transformative mental health treatments to the patients who need them most. Joining Lilly gives this pipeline, and the patients waiting for it, the benefit of the resources and scale Lilly has to potentially advance therapies faster than we could alone. I am confident this transaction represents the best path forward for patients and shareholders," said Christian Angermayer, founder, largest shareholder, and chairman of the board, AtaiBeckley.

Under the terms of the agreement, Lilly will acquire all outstanding shares of AtaiBeckley common stock for $6.75 per share in cash upon closing; plus up to $2.50 per share in the form of a Contingent Value Right (CVR) entitling the holder to additional cash payments upon achievement of specified development and regulatory milestones related to the BPL-003 and VLS-01 programs as follows: (a) $1.00 per share upon initiation of a Phase 3 clinical trial of VLS-01 prior to the fourth anniversary of closing; (b) $0.50 per share upon U.S. regulatory approval and DEA rescheduling of BPL-003 prior to the fifth anniversary of closing; and (c) $1.00 per share upon U.S. regulatory approval and DEA rescheduling of VLS-01 prior to the seventh anniversary of closing. The upfront cash consideration represents an aggregate equity value of approximately $2.8 billion and the CVR represents an additional potential aggregate equity value of approximately $1.0 billion. There can be no assurance that any payments will be made with respect to the CVR.

The transaction is not subject to any financing condition and is expected to close in the third quarter, subject to approval by AtaiBeckley stockholders and satisfaction of other customary closing conditions, including regulatory approvals. The purchase price payable at closing represents a premium of approximately 40% to the 30-day volume-weighted average trading price of AtaiBeckley's common stock ended on July 15, 2026. The boards of directors of both companies have approved the transaction.

To demonstrate their commitment to the transaction, Apeiron Investment Group, Ltd and all directors and officers of AtaiBeckley have signed voting and support agreements pursuant to which each has agreed to vote to approve the transaction. The shares subject to the voting agreements represent a total of approximately 15% of AtaiBeckley's outstanding common stock.

Lilly will determine the accounting treatment of this transaction in accordance with Generally Accepted Accounting Principles (GAAP) upon closing. This transaction will thereafter be reflected in Lilly's financial results and financial guidance.

Goldman Sachs is acting as exclusive financial advisor and Ropes & Gray is acting as legal counsel to Lilly. Moelis & Company LLC and Centerview Partners LLC are acting as financial advisors and Latham & Watkins is acting as legal counsel to AtaiBeckley. Citi also provided financial advice to the AtaiBeckley Board of Directors in the transaction.

About AtaiBeckley
AtaiBeckley is a clinical-stage biotechnology company on a mission to transform patient outcomes by developing rapid-acting, durable and convenient mental health treatments. AtaiBeckley's pipeline of novel therapies includes BPL-003 (mebufotenin benzoate nasal spray) for treatment-resistant depression (TRD), VLS-01 (DMT buccal film) for TRD and EMP-01 ((R)-MDMA HCI) for social anxiety disorder. BPL-003 was granted Breakthrough Therapy Designation from the U.S. Food and Drug Administration and has initiated Phase 3 activities; VLS-01 and EMP-01 are in Phase 2 clinical development. The Company is also advancing a drug discovery program to identify novel, non-hallucinogenic 5-HT2AR agonists. These programs aim to create breakthroughs in mental health through transformative interventional psychiatry therapies that can integrate seamlessly into healthcare systems.

About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. F-LLY

Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are references in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

No Offer or Solicitation
This communication is for informational purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.

Additional Information about the Acquisition and Where to Find It
AtaiBeckley plans to file a proxy statement (the "Proxy Statement") with the Securities and Exchange Commission (the "SEC") in connection with the solicitation of proxies to approve the agreement and plan of merger (the "Merger Agreement") relating to Lilly's proposed acquisition of AtaiBeckley (the "Merger"). Promptly after filing the definitive Proxy Statement with the SEC, AtaiBeckley will mail the definitive Proxy Statement and a proxy card to each stockholder entitled to vote at the special meeting to consider the adoption of the Merger Agreement. Stockholders are urged to read the proxy statement (including any amendments or supplements thereto) and any other relevant documents that AtaiBeckley will file with the SEC when they become available because they will contain important information. Stockholders may obtain, free of charge, the preliminary and definitive versions of the Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by AtaiBeckley with the SEC in connection with the Merger at the SEC's website (http://www.sec.gov). Copies of AtaiBeckley's definitive Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by AtaiBeckley with the SEC in connection with the Merger will also be available, free of charge, at AtaiBeckley's investor relations website (https://ir.ataibeckley.com), or by writing to AtaiBeckley Inc., Attention: Investor Relations, 250 West 34th Street, New York, NY 10119.

Participants in the Solicitation
Under SEC rules, AtaiBeckley and certain of its directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from stockholders in connection with the Merger. Information about the directors and executive officers of AtaiBeckley and their ownership of AtaiBeckley's common stock is set forth in the definitive proxy statement for AtaiBeckley's 2026 Annual Meeting of Stockholders (the "2026 Proxy Statement"), which was filed with the SEC on April 22, 2026, including the sections captioned "Director Compensation," "Executive Employment Agreements" and "Security Ownership of Certain Beneficial Owners and Management," or its Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on March 6, 2026, and in other documents filed by AtaiBeckley with the SEC. To the extent holdings of such participants in AtaiBeckley's securities have changed since the amounts described in the 2026 Proxy Statement, such changes have been reflected on Forms 3 or Forms 4 filed with the SEC by AtaiBeckley's directors and executive officers. These documents can be obtained free of charge from the sources indicated below. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement and other relevant materials to be filed with the SEC in respect of the Merger when they become available.

Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements that involve substantial risks and uncertainties, including statements regarding: the Merger; the prospective benefits of the Merger; the parties' ability to satisfy the conditions to the consummation of the Merger and the expected timetable for the Merger; the anticipated occurrence, manner and timing of the closing of the Merger; potential milestone payment amounts and terms pursuant to the CVRs; AtaiBeckley's product candidates and ongoing clinical and preclinical development; Lilly's development of programs targeting treatment-resistant depression and mental health conditions; and the accounting treatment of the potential acquisition under GAAP and its potential impact on Lilly's financial results and financial guidance. All statements other than statements of historical facts are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements are based on current beliefs and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. These risks and uncertainties include, but are not limited to: the possibility that AtaiBeckley's shareholders may not approve the adoption of the Merger agreement; AtaiBeckley's receipt of any competing offers or acquisition proposals; a failure to (or delay in) receiving the required regulatory clearances for the Merger; a condition to closing of the Merger may not be satisfied (or waived); the ability of each party to consummate the Merger; the closing of the Merger might be delayed or not occur at all; the diversion of management time and attention from ongoing business operations and opportunities; the response of competitors to the Merger; the effect of the Merger and the public announcement of the Merger on AtaiBeckley's operations and its relationships with its suppliers, business partners, management and employees, including its ability to attract and retain key personnel; Lilly's ability to successfully integrate AtaiBeckley and execute on the continued development of AtaiBeckley's programs following the closing of the Merger; that all or any of the potential milestone payments pursuant to the CVRs will become payable on the terms described herein or at all; the outcome of any legal proceedings that could be instituted against the parties to the Merger; the risks inherent in drug research, development and commercialization; disruption in AtaiBeckley's plans and operations attributable to the Merger; changes in AtaiBeckley's business during the period between announcement and closing of the Merger; Lilly's evaluation of the accounting treatment of the potential acquisition and its potential impact on its financial results and financial guidance; the effects of the Merger (or the announcement thereof) on AtaiBeckley's stock price; relationships with key third parties or governmental entities; regulatory changes and developments; and the impact of global macroeconomic conditions, including trade and other global disputes and interruptions, including related to tariffs, trade protection measures, and similar restrictions. For further discussion of these and other risks and uncertainties, see Lilly's and AtaiBeckley's periodic reports filed with the SEC. There can be no assurance that the Merger will in fact be consummated. All forward-looking statements in this communication are based on information available to Lilly and AtaiBeckley as of the date of this communication. Lilly and AtaiBeckley each expressly disclaim any obligation to publicly update or revise the forward-looking statements, except as required by law.

SOURCE Eli Lilly and Company

A securities fraud class action lawsuit has been filed on behalf of Intuit investors after its stock plummeted over 20% because Intuit allegedly misled investors regarding TurboTax’s purported competitive advantages and growth prospects.

NEW YORK--(BUSINESS WIRE)--Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Intuit Inc. (NASDAQ:INTU) and certain of the company’s senior executives for securities fraud after significant stock drops resulting from potential violations of the federal securities laws.

A securities fraud class action lawsuit has been filed on behalf of Intuit investors after its stock plummeted over 20% because Intuit allegedly misled investors regarding TurboTax’s purported competitive advantages and growth prospects.

Share If you invested in Intuit, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/intuit-class-action-lawsuit.

Key Details of the Intuit ($INTU) Class Action:

Lead Plaintiff Deadline: September 8, 2026 Class Action Allegations: Securities fraud alleging that Intuit misled investors regarding TurboTax’s purported competitive advantages and growth prospects Largest Alleged Stock Drop: May 21, 2026 – 20.02% Stock Drop Court: U.S. District Court for the Northern District of California Action: Contact BFA Law to discuss your rights Investors have until September 8, 2026 to ask the Court to be appointed to lead the case. The complaint asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Intuit securities. The class action is pending in the U.S. District Court for the Northern District of California. It is captioned Baldwin v. Intuit Inc., et al., No. 26-cv-7086.

Why is Intuit Being Sued for Securities Fraud?

Intuit is a financial technology platform that serves consumers, small and mid-market businesses, and accountants through its offerings, which include TurboTax, Credit Karma, and QuickBooks.

During the relevant period, Intuit told investors it had significant “momentum” across its business segments, including TurboTax. Intuit attributed its “momentum” to purportedly significant competitive advantages, including integration of AI in its business and operations. Intuit also told investors that the 2026 tax season was “off to a strong start” as the company was poised to deliver the “best price for our customers.”

In truth, as alleged, the company was facing pressure among the most price-sensitive DIY tax filers and was not competitive on price in this segment.

Why did Intuit’s Stock Drop?

On May 20, 2026, before market hours, Reuters published an article titled “Intuit to cut 17% of global jobs to streamline operations, memo shows.” Reuters reported that Intuit was “laying off about 17% of its workforce” and was “winding down its Reno and Woodland Hills offices as ⁠part of a strategic restructuring to consolidate teams[.]” This news caused the price of Intuit stock to decline $15.78 per share, or 3.95%, from a closing price of $399.71 per share on May 19, 2026, to $383.93 per share on May 20, 2026.

Also on May 20, 2026, after market hours, Intuit released its fiscal Q3 2026 financial results, which included its 2026 tax season revenue. Intuit stated that it “did not have the overall tax season we expected” and that it “faced pressure among the most price-sensitive DIY filers.” Intuit stated that “[w]e [lost] on price.” Intuit also announced that TurboTax online paying units were expected to grow by only 2% as total IRS filers were expected to decline by approx. 30 basis points, representing the “most significant industry-wide contraction since the post-COVID tax season.” This news caused the price of Intuit stock to decline $76.86 per share, or 20.02%, from a closing price of $383.93 per share on May 20, 2026, to $307.07 per share on May 21, 2026.

Click here for more information: https://www.bfalaw.com/cases/intuit-class-action-lawsuit.

What Can You Do?

If you invested in Intuit, you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/intuit-class-action-lawsuit

Or contact:
Adam McCall
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters.

Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm, with clients noting: “[t]here is no better service provider in the practice area,” “[t]he interest of the client is always front and center,” and “[t]here isn’t a better firm in this space.” One testimonial described the firm as “nimble and entrepreneurial,” with a “relentless focus on adding value for clients.”

Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/intuit-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

Greg Abel has a tough act to follow in replacing investing legend Warren Buffett as CEO of Berkshire Hathaway. But Abel has already shown, in just a few months on the job, that he is not afraid to make changes.

One of his biggest is boosting Berkshire's position in Alphabet, which now makes up about 9% of the portfolio and is a top-five holding. The combination of Apple and Alphabet accounts for almost 30% of the Berkshire Hathaway portfolio.

But right now, an old Buffett play, Kroger (KR 3.71%), might be one of the better Berkshire Hathaway stocks to own. Here's why.

Image source: The Motley Fool.

Why Kroger is a sneaky good buy Kroger, the nation's largest grocery store chain, has been in the Berkshire Hathaway portfolio since 2019. Last quarter, it made up about 1.4% of the portfolio, with no shares bought or sold by Abel.

Kroger is a classic defensive play. Groceries are needed whether the economy is good, bad, or somewhere in between. So, as the largest grocery store chain, it is built to outperform during an extended market dip. In the 2022 bear market, Kroger stocks held up well, down about 1% in a year when the S&P 500 (^GSPC +0.38%) was off 19% and the Nasdaq Composite (^IXIC +0.62%) sank 33%.

This year has been a microcosm of Kroger's defensive attributes. In the first quarter, when the Nasdaq entered a correction and the S&P 500 was down, Kroger stock rose by some 21% to more than $75 per share in March.

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Then, as the market stormed back in April and May, Kroger shares sank back down to their current $58 per share, down around 5% year to date. It hit a 52-week low of $55 per share at the end of June. It is currently trading at about 34 times earnings but just 11 times forward earnings. Its five-year PEG ratio is even lower at 0.57, well below 1, which means it is undervalued.

Trading near a 52-week low It's hard to say when the market will undergo another correction, but valuations have surged back up, and economic indicators remain somewhat weak. Investors should be cautious and focused on building a carefully balanced and diversified portfolio.

That's where Kroger comes in. This is a great time to add a strong defensive stock to your portfolio at a 52-week low to have that downside protection during the next dip.

Wall Street is bullish on Kroger, with analysts setting a median price target of $72.50 per share. That would represent about 24% upside over the next 12 months.

In addition, Kroger has an excellent dividend, yielding 2.63% with a low payout ratio of 21%. That suggests the company has more room to increase that dividend. Kroger has consistently raised its dividend over the years, with 19 straight years of annual dividend increases.

Kroger may not be glitzy like a "Magnificent Seven" stock or a highflier, but right now is a particularly good time to buy this strong defensive stock.

Reports of Bankruptcy are Far From the Facts, Silvio Napoli SaysNapoli said that the automaker was “not considering bankruptcy or a transaction to take the company private,” and said that the reports were “false.” He said that the Board has also not explored any such scenarios.

“As disclosed in our most recent quarterly filing, Lucid has sufficient liquidity to fund its operations well into next year,” Napoli said. He added that the outside advisors had not advised the company to file for bankruptcy and that reports of any such advice were also untrue.

“My priority is clear: turn this company around. That is where the leadership team and I are focused,” Napoli said, adding that the company will be “providing a full update” during its upcoming earnings call.

Source: Silvio Napoli via LinkedIn

Lucid stock has been volatile since the beginning of the year. Year-to-date (YTD), Lucid stock has fallen nearly 44% to just under $6 per share.

However, following the CEO, as well as the company’s pushback against the reports, LCID rebounded over 28% and currently trades for $5.95 per share during pre-market trading on Thursday.

For the second quarter of 2026, the automaker produced 4,774 vehicles and delivered 3,953 units, amid a series of changes in its leadership.

According to Benzinga Edge Rankings, Lucid provides a favorable price trend in the Short term.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Photo courtesy: Ian Dewar Photography / Shutterstock.com

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The Strait of Hormuz, which handles roughly a quarter of the world's maritime oil trade, has been closed since Feb. 28. That closure drove up crude oil prices and lifted many oil stocks, but squeezed shares of companies that relied on lower fuel costs.

However, several electric vehicle (EV) stocks have risen since the Strait's closure. Let's see why that happened, and which EV stocks will benefit the most from higher oil prices.

Image source: Getty Images.

Which EV stocks have performed well since Feb. 28? Higher oil prices can make it more expensive to produce and transport EVs, but they also make them more appealing to consumers who want to escape oil's cyclical swings. That's why the global EV market could grow at a 10% CAGR from 2026 to 2034, according to Fortune Business Insights, and why several top EV stocks are still promising long-term investments.

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One of those top performers was Rivian (RIVN +1.71%), which has risen 16% since Feb. 28. That rally was fueled by the launch of its R2 SUV, which costs significantly less than its R1T pickup and R1S SUV. The R2 also costs less to manufacture than its predecessors, so its increased sales should actually boost its gross margin rather than compress it.

Rivian expects the R2's launch to boost its annual deliveries from 42,247 vehicles in 2025 to 62,000-67,000 vehicles in 2026. Analysts expect its revenue to triple from 2025 to 2028 as it narrows its net losses. That's an impressive outlook for a stock that trades at less than four times this year's sales. Therefore, it could be revalued as a growth play over the next few years.

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Another resilient EV stock was Nio (NIO +0.80%). The Chinese EV maker's stock has risen about 4% since Feb. 28, and it still looks like a screaming bargain at less than one times this year's sales. Nio stands out in the EV market because its vehicles use swappable batteries that can be quickly swapped out, offering a faster alternative to charging at its own battery-swapping stations. It also sells cheaper SUVs and compact cars via its ONVO and Firefly sub-brands.

From 2025 to 2028, analysts expect Nio's revenue to roughly double. They also expect it to finally turn profitable in 2027 as it divests its lower-margin businesses, grows Nio's share of the higher-margin premium sedan market, and scales its cheaper ONVO and Firefly sub-brands.

Should you buy either of these EV stocks today? Rivian and Nio are still speculative stocks, but both look undervalued and well-positioned to profit from the EV market's long-term expansion. They're well-insulated from higher oil prices, and they'll keep growing as more consumers ditch their gas-powered vehicles.

The U.S. military's most sensitive satellites have long ridden to orbit on a short list of trusted rockets. Now Rocket Lab (RKLB 3.36%) has forced its way into that conversation, earning a spot to compete in the Space Force's National Security Space Launch (NSSL) Phase 3 Lane 1 program, an arrangement with a maximum value of $5.6 billion through 2029.

But being invited to compete and actually winning work are two very different things, and the entire opportunity hinges on one machine: the Neutron rocket.

Why Neutron is the linchpin Rocket Lab built its business on the small Electron rocket, but Electron is far too small for the heavy national-security payloads the Space Force needs to launch. Neutron, its larger reusable medium-lift vehicle, is the rocket designed to carry them. The program's structure makes this crystal clear: Rocket Lab has been on-ramped as an eligible bidder, but it cannot win any individual task orders until Neutron completes a successful first flight. In other words, no working Neutron means no share of the $5.6 billion in available contracts, full stop.

Image source: Getty Images.

The path to winning task orders Being a contender requires passing a handful of milestones. First, Neutron has to fly, with a debut currently targeted for the fourth quarter of 2026. A clean flight would let Rocket Lab pursue formal certification and then compete for specific missions, and the program plans to award at least 30 launches over its life, with a possible extension into the next decade. Rocket Lab is trying to build credibility ahead of that debut, having already lined up a commercial launch backlog for Neutron and drawn interest from the military for a cargo-transport test. Each contract signed before the first flight strengthens the case that the rocket will have steady demand once it's flying.

Objectively, investors should know that the obstacles are significant. Neutron's timeline has already slipped once after a test failure on its first-stage tank, and new rockets are notoriously prone to delays and early setbacks. Rocket Lab is also arriving late to a field where Space Exploration Technologies (aka SpaceX) and United Launch Alliance are already securing task orders, so it will compete for missions against established providers with proven vehicles. Until Neutron flies, Rocket Lab remains on the outside looking in.

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The takeaway for potential investors Rocket Lab's inclusion in a $5.6 billion program is a genuine vote of confidence, but it is best understood as an option rather than a guaranteed payday. The value of that option rests almost entirely on Neutron's debut going well. A successful first flight would open the door to years of high-value government work and validate Rocket Lab's push to become a serious defense-launch player.

I initiate coverage on Enphase Energy with a Buy rating despite ongoing top- and bottom-line headwinds. ENPH has delivered four consecutive double beats, consistently surpassing analyst expectations and demonstrating management credibility. Above-market margins and potential catalysts, such as the IQ SST Architecture, support a constructive long-term outlook.

GXO Logistics (GXO) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

BFA Law has filed a securities fraud class action lawsuit on behalf of Hub Group investors after its stock plummeted 18% after it announced its financial statements were materially misstated and should no longer be relied upon.

NEW YORK--(BUSINESS WIRE)--Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Hub Group Inc. (NASDAQ:HUBG) and certain of the Company’s senior executives for securities fraud after its significant stock drop resulting from potential violations of the federal securities laws.

BFA Law has filed a securities fraud class action lawsuit on behalf of Hub Group investors after its stock plummeted 18% after it announced its financial statements were materially misstated and should no longer be relied upon.

ShareIf you invested in Hub Group, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/hub-group-class-action-lawsuit.

Key Details of the HUBG ($HUBG) Class Action:

Lead Plaintiff Deadline: August 28, 2026Alleged Misconduct: Securities fraud relating to Hub Group’s financial results, revenue recognition, accounting of costs, internal controls, and prospects for/drivers of growthLargest Stock Drop: February 6, 2026 – 18% Stock DropCourt: U.S. District Court for the Northern District of IllinoisFiling Law Firm: Bleichmar Fonti & Auld (“BFA Law”)Action: Contact BFA Law to discuss your rightsInvestors have until August 28, 2026, to ask the Court to be appointed to lead the case. The complaint asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Hub Group securities. The class action is pending in the U.S. District Court for the Northern District of Illinois. It is captioned Lawler v. Hub Group, Inc., No. 1:26-cv-07596.

Why is Hub Group Being Sued for Securities Fraud?

Hub Group is a transportation and logistics freight carrier that provides trucking and related services to operators across the supply chain. Hub Group services a customer base extending across various industries, including retail, consumer products, automotive, and durable goods, and reports to be one of the largest freight transportation providers in North America.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements concerning the premature and incorrect revenue recognition of certain transactions, the understatement of purchased transportation costs and accounts payable, the effectiveness of internal controls, and the Hub Group’s drivers of financial results and growth.

Why did Hub Group’s Stock Drop?

On February 5, 2026, Hub Group announced that the Company’s financial statements for the first three quarters of 2025 should not be relied upon and would be restated due to “an error that resulted in the understatement of purchased transportation costs and accounts payable in the first nine months of 2025.” Hub Group revealed that its reports for those quarters “were in each case materially misstated due to the aforementioned error and should no longer be relied upon” and that “the Company [wa]s also continuing to assess the effectiveness of its disclosure controls and procedures and internal control over financial reporting and appropriate remediation steps.” Hub Group also estimated that “[t]he total amount of the reduction to accounts payable and purchased transportation costs related to this issue that was recorded during these periods is $77 million.”

This news caused the price of Hub Group stock to decline roughly 18%, from $51.33 per share at close on February 5, 2026, to $41.96 per share at close on February 6, 2026.

On May 12, 2026, Hub Group announced that it had “identified certain transactions that were prematurely or incorrectly recognized or not adequately supported,” causing its 2023 and 2024 annual reports filed with the SEC to be “materially misstated,” such that they “should no longer be relied upon.” Hub Group did not quantify the expected misstatement, although it “expect[ed] to conclude that it did not maintain effective disclosure controls and procedures and internal control over financial reporting for each of the years ended December 31, 2024 and 2023.”

This news caused the price of Hub Group stock to decline a further 13%, from $41.86 per share at close on May 11, 2026, to $36.62 per share at close on May 12, 2026.

Click here for more information: https://www.bfalaw.com/cases/hub-group-class-action-lawsuit.

What Can You Do?

If you invested in Hub Group, you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/hub-group-class-action-lawsuit

Or contact:
Adam McCall
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters.

Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm, with clients noting: “[t]here is no better service provider in the practice area,” “[t]he interest of the client is always front and center,” and “[t]here isn’t a better firm in this space.” One testimonial described the firm as “nimble and entrepreneurial,” with a “relentless focus on adding value for clients.”

Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

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