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NEW YORK, July 06, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP informs that on February 24, 2026, Lucid Group's leadership told investors the company had achieved "structural" progress and a "repeatable operating cadence heading into 2026." Six weeks later, Lucid revealed it delivered only 3,093 vehicles in Q1, missing expectations by over 40%, after a 29-day delivery halt it never disclosed during those weeks of optimism. The stock slumped from nearly 8.80 across two corrective disclosures.

Levi & Korsinsky, LLP highlights the contrast between Lucid Group, Inc.'s (NASDAQ: LCID) promises to investors and the results that followed. Check if you can recover your LCID investment losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

LCID shares declined 11.35% on the first corrective disclosure and an additional 4.76% on the second, combining for a reduction of $1.57 in share price.

The Promise

In late February 2026, Lucid's executives painted a picture of operational maturity and discipline. The lawsuit contends that management made specific, quantifiable representations about the company's trajectory:

An underlying production run rate "that supports up to 7,500 vehicles per quarter"Progress described as "structural" and "not the result of temporary measures"Quality problems with Gravity hardware characterized as overcomeDays on hand of 108 in December, with expectations to "trend down in Q1 2026"A focus on "predictable execution and repeatable process improvements"
These statements were delivered at the Q4 2025 earnings call on February 24, 2026, and reinforced at the March 12, 2026 investor day, where management emphasized "near-term execution" and "scaling Lucid Gravity" as 2026 priorities.

The Reality

The action claims that while these assurances were being made, a supplier quality issue had already disrupted Gravity deliveries in February 2026. According to the complaint, an unauthorized supplier change resulted in seatbelt anchor welds that did not meet safety standards, forcing Lucid to pause deliveries for 29 days and recall 4,476 vehicles. The filing asserts this was not disclosed until April 3, 2026.

The Numbers: Promised vs. Actual

Expected Q1 Deliveries: 5,237 vehicles → Actual: 3,093 vehicles (41% miss)Expected Q1 Revenue: 280-$284 million (35% shortfall)Expected Operating Trajectory: Improving unit economics → Actual: 1.005 billion operating lossExpected GAAP EPS: -3.46 (missed by $0.83)Capital Position: Positioned for discipline → Actual: $1.05 billion capital raise announced, including dilutive stock offering
What the Lawsuit Alleges About the Gap

The complaint contends that this was not a case of unforeseeable market conditions. As alleged, deliveries were "particularly hit in February" and the disruption was already underway when executives described their operations as structurally improved. The lawsuit asserts that by continuing to tout enhanced capabilities while concealing a known supply chain failure, defendants maintained artificially inflated stock prices during the Class Period.

"Companies that make specific promises to investors about future performance have an obligation to disclose known risks to those projections. The gap between what Lucid told investors in late February and what was actually occurring in its delivery operations raises serious questions about the adequacy and timeliness of its disclosures." -- Joseph E. Levi, Esq.

Calculate your potential LCID recovery amount or call (212) 363-7500.

LEAD PLAINTIFF DEADLINE: July 28, 2026

ABOUT LEVI & KORSINSKY, LLP -- Levi & Korsinsky, LLP is a nationally recognized shareholder rights firm. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders. Ranked in ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the LCID Lawsuit

Q: When did Lucid Group allegedly mislead investors? A: The class period runs from February 25, 2026 to April 13, 2026. The alleged fraud was revealed through corrective disclosures on April 3, 2026 and April 14, 2026, causing combined stock declines of $1.57.

Q: What specific misstatements does the LCID lawsuit allege? A: The complaint alleges Lucid Group made materially false or misleading statements regarding its manufacturing and delivery capabilities, including claims of "structural" progress and a "repeatable operating cadence," while a 29-day supplier-driven delivery halt was already disrupting operations. When the true state was revealed, the stock price declined sharply.

Q: What if I already sold my LCID shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: How do I know if I lost enough money to be the lead plaintiff? A: There is no minimum loss threshold. Courts appoint the investor with the largest provable loss who is willing and able to represent the class adequately. Contact Levi & Korsinsky before July 28, 2026 to evaluate.

Q: What do LCID investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as a class member.

Q: Has Levi & Korsinsky handled similar cases before? A: Yes, including securities class actions involving revenue inflation, earnings guidance fraud, dividend misrepresentation, and executive misconduct across numerous industries.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

Key Takeaways NBIX is driving growth with rising Ingrezza sales, increasing Crenessity uptake & reaffirmed 2026 guidance. NBIX advanced its late-stage and early-stage programs across schizophrenia, TD and obesity. Neurocrine added Vykat XR through the Soleno acquisition, expanding its commercial rare disease portfolio. Neurocrine Biosciences (NBIX - Free Report) continues to strengthen its growth profile through the solid commercial performance of its marketed therapies, a steadily advancing late-stage neuroscience pipeline and strategic business development initiatives.

Strong Commercial Performance Aids NBIX’s GrowthNeurocrine is making steady progress, with strong commercial performance from its two marketed drugs, Ingrezza and Crenessity (crinecerfont). Ingrezza, the first FDA-approved VMAT2 inhibitor for tardive dyskinesia (TD), has remained the company's flagship product since its launch in 2017. The therapy established market leadership in TD and expanded its commercial opportunity with its approval for the treatment of Huntington's disease chorea in 2023. In the first quarter of 2026, the drug generated net product sales of $656.9 million, up 20% year over year, driven by double-digit prescription growth and record new patient starts. Management reaffirmed its full-year 2026 Ingrezza sales guidance of $2.7-$2.8 billion, highlighting continued confidence in the product's growth trajectory.

Neurocrine's second commercial product, Crenessity (crinecerfont), is also emerging as an important growth contributor. In December 2024, the FDA approved Crenessity as an adjunctive treatment to glucocorticoid replacement therapy to control androgen levels in adult and pediatric patients aged four years and older with classic congenital adrenal hyperplasia (CAH). Since its launch, the drug has delivered consistent quarter-over-quarter commercial growth, supported by robust physician adoption, increasing patient demand and expanding reimbursement coverage.

Year to date, shares of NBIX have risen 22.9% against the industry’s 2.9% decline.

Image Source: Zacks Investment Research

Robust Pipeline Supports NBIX’s Long-Term Growth OutlookBeyond its marketed products, Neurocrine continues to strengthen its long-term growth outlook through a robust and diversified neuroscience pipeline spanning multiple high-value indications.

The company's lead late-stage candidate, direclidine (NBI-1117568), is in phase III development for schizophrenia while also being evaluated in a mid-stage study for bipolar mania. Another promising late-stage asset, osavampator (NBI-1065845), is being developed for major depressive disorder with cognitive impairment, a condition with substantial unmet medical need.

Neurocrine is also expanding the commercial opportunity for Crenessity through additional clinical development. The company initiated a phase II study this month to assess the safety and tolerability of Crenessity in pediatric patients younger than four years with classic CAH and completed target enrollment in a separate European Union phase II study involving children from birth to under two years of age. Successful development in these younger patient populations could further broaden the drug's addressable market.

The company has continued to advance its early-stage pipeline. During the year, Neurocrine initiated phase II studies evaluating NBI-1117570 for schizophrenia and NBI-1065890, a next-generation VMAT2 inhibitor for tardive dyskinesia. It also started a first-in-human phase I study of NBIP-2118, a first-in-class therapy for obesity.

These pipeline advancements strengthen Neurocrine's prospects for sustained innovation and long-term revenue growth across the neuroscience and rare disease markets.

Soleno Acquisition Strengthens NBIX's Commercial PortfolioThe company enhanced its long-term growth strategy through the acquisition of Soleno Therapeutics in May. The acquisition added Soleno’s Vykat XR (diazoxide choline), a first-in-class treatment for hyperphagia associated with Prader-Willi syndrome (PWS), to Neurocrine’s commercial portfolio. It is the first and only FDA-approved therapy for hyperphagia in adults and pediatric patients four years of age and older with PWS. Backed by a robust intellectual property portfolio extending into the mid-2040s, the therapy offers a sustainable platform for long-term value creation.

NBIX's Zacks Rank & EstimatesNeurocrine currently sports a Zacks Rank #1 (Strong Buy). Over the past 60 days, earnings per share estimates for Neurocrine have risen from $8.04 to $9.47 for 2026 and from $9.54 to $10.79 for 2027.

Other Stocks to ConsiderSome other top-ranked stocks in the biotech sector are Immunocore (IMCR - Free Report) , Amarin Corporation (AMRN - Free Report) and Liquidia Corporation (LQDA - Free Report) , each currently sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss per share of 88 cents to earnings of 6 cents per share. Over the same period, EPS estimates for 2027 have risen from 24 cents to 87 cents. IMCR shares have lost 6.3% year to date.

Immunocore’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 46.66%.

Over the past 60 days, loss per share estimates for Amarin have narrowed from $15.20 to 65 cents for 2026. Over the same period, estimates for loss per share have also narrowed from $13.00 to 51 cents for 2027. AMRN shares have risen 17.3% year to date.

Amarin’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 50.02%.

Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have increased to $3.02 from $1.50. Over the same period, EPS estimates for 2027 have risen to $4.92 from $2.91. LQDA shares have surged 128.9% year to date.

Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.

With the Federal Reserve’s benchmark funds rate parked at 3.75% since Dec. 11, 2025, and the 10-year Treasury offering just 4.38%, income investors entering July are still hunting for yield well above the risk-free rate. Business development companies remain one of the cleanest ways to get it. BDCs are required to distribute at least 90% of taxable income to maintain their pass-through tax status, which forces consistent payouts but also makes their distributions vulnerable in credit downturns. With Q1 2026 results now in hand for all three names below, here is where the risk/reward looks most defensible heading into July.

Ares Capital (ARCC) Ares Capital (NASDAQ:ARCC | ARCC Price Prediction) is the scale play. At a $18.70 share price against ARCC’s reported Q1 NAV of $19.59, the stock trades at a modest discount to book. Market cap sits near $13.43 billion, making it the largest publicly traded BDC.

The income story is straightforward. ARCC paid a 48-cent quarterly dividend on June 30, the same rate it has held since at least Q1 2024, and well above the 40-to-42-cent range it paid during 2020 to 2021. Core EPS of 47 cents covered the payout. The weighted average yield on debt investments was 10% at amortized cost, with 91% of new commitments in floating rate paper and 95% carrying rate floors. CEO Kort Schnabel pointed to “improving lending conditions with enhanced spreads and fees, lower leverage” on the Q1 call.

Bull case: Scale, a diversified portfolio, roughly $6 billion in available liquidity, and a well-covered dividend through a softer rate cycle.

Risk: Q1 carried $412 million in net unrealized losses, NAV slipped from $19.94, and non-accruals ticked up to 2% at amortized cost. GAAP EPS came in at just 13 cents. The stock is down more than 16% over the past year.

Main Street Capital (MAIN) Main Street Capital (NYSE:MAIN) is the quality compounder of the group. Shares trade at $52.46, a premium to Q1 NAV of $33.46, which is the market’s verdict on internal management, cost discipline and a dividend record that has never been cut since the 2007 IPO.

MAIN’s payout stack is what separates it. The company paid 26 cents monthly across April, May, and June 2026, then layered a 30-cent supplemental on June 30, marking the 19th consecutive quarterly supplemental. The regular monthly dividend is up 4% year over year, and the regular monthly component has grown from 20 cents in 2020 to 26 cents today. Q1 distributable net investment income of $1 per share just missed the $1.01 estimate, but NAV still climbed from $33.33 at year-end 2025, aided by an $18.0 million net realized gain.

Bull case: Monthly base plus quarterly supplementals, internally managed structure with a 1% operating expenses to assets ratio, a growing $1.8 billion external AUM business, and FY25 ROE of 17%.

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Risk: Q1 revenue fell 18% year over year to $140.1 million, a $32.6 million net fair value decrease was recorded, and management flagged tariff and macro risk. The stock is down 11% year to date.

Trinity Capital (TRIN) Trinity Capital (NASDAQ:TRIN) is the high-yield, higher-risk leg of this basket. The venture and growth-stage lender trades at $17.78, a premium to Q1 NAV of $13.27 and has rallied more than 18% year to date and over 25% in the past year.

TRIN transitioned from quarterly to monthly distributions in January, and pays 17 cents per share each month, locked in through at least September via the June 17, declaration. That works out to roughly 51 cents per quarter, the 26th consecutive quarter at that level. The effective yield on average debt investments hit 16%, the highest of the three. Q1 NII of $44.49 million grew 37% year over year and covered the dividend at 104% of NII per share, with a $68.50 million undistributed income buffer behind it.

Bull case: Highest portfolio yield in the group, a $2.48 billion portfolio across 180 companies, 83% floating rate debt, and a managed funds platform that pushed fee income to $6.8 million from $2.7 million a year ago.

Risk: NAV slid from $13.42, Q1 logged $9.9 million in net realized losses, the weighted average risk rating ticked up to 3.0 from 2.9, and ATM share issuance of $78.4 million adds dilution risk. Venture lending also tends to crack first in credit downturns.

What to Watch in July The setup for July is favorable on the surface: The Fed has cut 75 basis points over the past year and the 10-year sits at a 77th percentile rank within its 12-month range, which keeps spreads attractive on floating-rate paper. Watch non-accrual trends and NAV direction in the next round of earnings reports. Any meaningful uptick in credit stress is the single variable that turns a 10% to 15% headline yield into a dividend cut.

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

Contact [email protected] for any questions or corrections.

Alcoa Today

$50.88 +2.20 (+4.52%)

As of 11:33 AM Eastern

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

52-Week Range$28.11▼

$84.38Dividend Yield0.79%

P/E Ratio12.82

Price Target$67.82

When an industrial sector powerhouse announces a multi-billion dollar acquisition, the market's first reflex is almost always to sell.

Institutional investors are notoriously skittish toward aggressive mergers and acquisitions in cyclical sectors unless they see immediate, verifiable free cash flow accretion.

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Investors are seeing this reaction play out with Alcoa Corporation NYSE: AA right now. After executing an agreement to acquire South32 Limited's bauxite, alumina, and aluminum assets for an upfront consideration of $4.1 billion, the market responded.

Shares of Alcoa Corporation plummeted 9%, slicing through an established 50-day range to close at $47.41.

Unearthing a Generational Upstream Aluminum MonopolyWall Street is intensely focused on the immediate financing burden, prioritizing balance sheet preservation over asset expansion. A deeper look into the mechanics of this deal reveals a completely different reality. By absorbing tier-one bauxite and alumina operations exactly as structural supply deficits loom, Alcoa just engineered a generational upstream monopoly at a deep discount.

Bauxite is the primary ore used to produce alumina, which is then smelted into aluminum. Controlling that entire pipeline from dirt to metal gives Alcoa immense pricing power. Investors willing to look past the bridge-financing noise are being presented with a rare opportunity to accumulate shares at heavily compressed multiples.

Sifting Through the Slag: Debt, Equity, and Market FearTo understand the 9% haircut, you have to look at how institutional block traders model risk. The $4.1 billion upfront price tag requires $3.1 billion in cash and the issuance of 17 million new Alcoa shares. That stock issuance guarantees immediate equity dilution of roughly 6%.

Compounding the dilution is the debt load. To quickly secure the cash requirement, Alcoa tapped a $3.1 billion bridge commitment from Goldman Sachs NYSE: GS. Bridge loans are temporary, highly expensive financing tools utilized to lock down a transaction before permanent capital can be raised. The market is irrationally pricing in the weight of this short-term paper as a permanent leverage overhang, pushing the maximum enterprise value of the transaction toward $5.6 billion when accounting for assumed lease obligations and contingent payouts.

Investors also have to factor in the existing sentiment surrounding Alcoa. During the most recent earnings report on April 16, Alcoa delivered a slight miss. Earnings of $1.40 per share trailed consensus estimates by 20 cents, while revenues declined 5.2% year-over-year. That earnings miss created a fragile psychological environment.

When the South32 Limited deal crossed the wire, institutional patience for the long-dated realization of projected cost savings and operational efficiencies snapped. High off-exchange short volume ratios exceeding 62% indicate aggressive risk-off repositioning by institutional block traders rather than a coordinated short attack. Short interest remains benign at 2.48%, totaling roughly 6.5 million shares. Put option volume expiring in early July is clustered heavily around the $48 and $49 strikes, validating immediate downside hedging against the newly announced capital outlay.

Despite the panic, Alcoa's underlying financial health remains intact. Before this transaction, the debt-to-equity ratio was conservative at 0.36, supported by a current ratio of 1.48. Alcoa has a definitive roadmap to permanently replace the bridge loan using balance sheet cash and long-term debt financing well ahead of the anticipated closing in the first half of 2027. Alcoa has the baseline balance sheet capacity to absorb these assets easily.

Locking Down the Vault: South32 Assets Transform AlcoaMoving past the financing noise, the actual assets being acquired fundamentally reshape the global aluminum landscape. The transaction secures full ownership of the Boddington bauxite mine and the Worsley alumina refinery in Western Australia, alongside vital processing interests in Brazil and South Africa.

Alcoa models $900 million in net present value savings across the combined portfolio. While analysts often discount long-term acquisition projections, the immediate cost savings are highly verifiable.

The integration of the Western Australia operations alone is projected to deliver $50 million in direct run-rate cost savings. These savings flow straight into the cost of goods sold within 12 months of the closing date, countering fears of short-term margin compression.

The strategic alignment here gives Alcoa a commanding scale advantage. With a market capitalization above $12 billion, Alcoa dwarfs two direct upstream competitors, Constellium NYSE: CSTM and Century Aluminum NASDAQ: CENX, which hover near $4 billion. Alcoa also maintains a 0.83% dividend yield, whereas both Constellium and Century Aluminum do not offer dividends, placing the newly expanded behemoth ahead in shareholder returns.

Refining the Balance Sheet With 1 Clever Contingency ClauseOne of the most misunderstood components of this buyout is the $750 million contingent value right attached to the deal. A contingent value right provides additional compensation to the seller only if specific performance metrics are met in the future.

In this case, the payout is tightly controlled and directly tied to alumina and aluminum prices through 2030. Alcoa only surrenders this maximum consideration if commodity pricing guarantees outsized free cash flow accretion. The company effectively neutralized downside risk, ensuring it only pays top dollar if the underlying London Metal Exchange commodities generate massive revenue. This keeps the balance sheet highly protected during cyclical downturns.

Institutional Money Anchors Alcoa's AscentGlobal analysts have recently raised their aluminum forecasts on the London Metal Exchange. Structural supply disruptions and geopolitical tensions are setting the stage for multi-year pricing highs. By aggressively acquiring raw-material capacity right before projected 2026 and 2027 supply squeezes, Alcoa is positioning itself to capture massive alpha when the commodity cycle peaks.

Smart money understands this positioning. While day traders focus on intraday block selling, heavy institutional anchoring remains firmly in place. BlackRock NYSE: BLK continues to hold a 9.0% stake, representing over 23 million shares. This deep-pocketed positioning acts as a floor for institutional conviction, offering a layer of baseline support beneath the recent volatility.

The valuation metrics support a bullish outlook. The trailing price-to-earnings ratio for Alcoa is 12.3, while the forward multiple has compressed to an incredibly attractive 6.3. Alcoa is generating $6.05 per share in cash flow, providing ample liquidity to navigate the integration phase.

Melting It Down: Does Alcoa Merit Watchlist Status?The market reaction to the South32 Limited asset acquisition highlights a disconnect between short-term institutional trading algorithms and long-term business fundamentals. The market is harshly punishing the execution risk and temporary debt load required to consolidate the industry.

Alcoa (AA) Price Chart for Monday, July, 6, 2026

The underlying data points to a brilliantly timed expansion. By locking down tier-one mining and refining assets ahead of a global supply deficit, Alcoa is insulating its supply chain and setting the stage for aggressive margin expansion.

Investors willing to look past the bridge financing noise are being handed a rare opportunity to accumulate shares at heavily compressed multiples. Cautious investors might consider adding this legacy materials producer to their watchlist as the market digests the realities of this newly formed upstream monopoly.

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While software providers and chipmakers grab the biggest headlines, the artificial intelligence (AI) revolution is fundamentally a hardware story. The massive computing clusters required for artificial intelligence cannot run without two critical elements: staggering amounts of electrical power and highly sophisticated cooling systems.

Industrial companies Vertiv (VRT +8.32%) and Eaton (ETN +3.79%) help provide the essential infrastructure that keeps these artificial intelligence-focused data centers running.

Image source: Getty Images.

Vertiv, based in Westerville, Ohio, produces power and thermal solutions for data centers, mainly direct-to-chip liquid cooling, and has recurring revenue from its global services network.

Eaton, based in Ireland, is a power management company that designs and manufactures heavy-duty electrical infrastructure, including transformers, switchgear, uninterruptible power supplies (UPS), and advanced liquid-cooling systems, essential for powering and protecting data centers, utility grids, and industrial facilities.

Here are three reasons why these two companies have compelling stocks to own right now:

1. Hyperscale backlogs are growing The massive capital expenditures committed by big tech hyperscalers are showing no signs of slowing, translating directly into a massive multiyear visibility window for both companies.

Vertiv, at the end of 2025, said its project backlog had skyrocketed to more than $15 billion, driven by a massive surge in data center orders. In the first quarter, Vertiv reported revenue of $2.65 billion, up 30% year over year, and earnings per share (EPS) of $0.99, up 136% over the same quarter a year ago. The company said it expects full-year revenue of $13.5 billion to $14 billion, compared with $10.2 billion in 2025. It also gave yearly EPS guidance of $6.30 to $6.40, up 87.6% from the same period last year.

Eaton is seeing a parallel boom with a backlog of $14.5 billion through Q1. The backlog grew by 48% in its electrical segment and by 28% in its aerospace segment in Q1.

Eaton is also seeing double-digit revenue growth. It set a Q1 record with $7.5 billion in revenue, up 17% year over year, while adjusted EPS rose 3% over the same period last year to $2.81.

Because building a data center takes years, these backlogs guarantee a long, highly visible revenue runway that insulates both companies from short-term tech market volatility.

2. Vertiv dominates the liquid cooling market Traditional data centers use air conditioning to stay cool. However, the next-generation chips powering AI generate intense heat densities that air alone cannot manage. The industry is rapidly pivoting to liquid cooling, and Vertiv is uniquely positioned to dominate this space.

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Vertiv has rapidly expanded its footprint, including opening high-capacity facilities, such as its new Johor, Malaysia site, to manufacture specialized liquid-cooling equipment, including its CoolChip coolant distribution units.

Through strategic partnerships with chip design leaders and tactical acquisitions such as its purchase of Strategic Thermal Labs, Vertiv provides end-to-end solutions from chip-level cold plates to facility-scale heat rejection, making it the absolute go-to partner for high-density AI clusters.

3. Eaton rules the in-demand gray space power market If Vertiv rules the thermal environment inside the server room (the white space), Eaton rules the massive electrical infrastructure that brings power from the utility grid into the building (the gray space). AI chips require immense amounts of power, and Eaton's technical moat is solving this bottleneck.

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Eaton provides heavy-duty transformers, switchgear, and uninterruptible power supply (UPS) systems to handle megawatt-class server racks.

Its next-generation 800-volt DC power distribution architecture streamlines power delivery directly to the server, eliminating multiple conversion steps and significantly reducing energy loss. Eaton's $9.5 billion acquisition in March of Boyd Performance Materials significantly expands its own advanced thermal capabilities, making it a more complete infrastructure powerhouse. The move is expected to be accretive to Eaton's adjusted EPS within two years, it said.

The pick-and-shovel plays are the safest ones in AI Chip architectures will evolve, and competing software models will come and go, but every single iteration of advanced AI will require massive power distribution and extreme heat management. Eaton and Vertiv effectively tax the entire ecosystem's growth, regardless of which tech giant wins the software race.

There are risks, however. Both stocks are now viewed as AI stocks, and with that come higher valuations and greater volatility.

Vertiv's shares have risen by more than 25% so far this year, and Eaton's are up an astronomically high 85%. With that, their price-to-earnings ratios (P/E) have climbed. Eaton trades at more than 38 times trailing earnings, while Vertiv trades at 75 times trailing earnings. That's a lot to live up to, and any type of AI slowdown could send either stock slumping.

Still, both companies are beneficiaries of rising AI spending, and that trend doesn't seem to be slowing down anytime soon.

Key Takeaways Delek completed the Big Spring refinery turnaround safely, on schedule and within budget.DK expects no more major turnarounds this year, supporting full-capacity summer operations.Delek says refinery upgrades improve crude flexibility, product yields and blending capabilities. Delek US Holdings, Inc. (DK - Free Report) entered the third quarter with a key operational milestone behind it. The company completed the planned turnaround at its Big Spring refinery, executing the project safely, on schedule and within budget. While refinery turnarounds typically weigh on near-term earnings because of downtime and maintenance costs, the completion of this project positions Delek to benefit from improved operating performance during a period of healthy refining fundamentals.

Image Source: Delek US Holdings, Inc.

Management emphasized that the turnaround was designed to improve refinery reliability, crude slate optimization, product yields and higher-octane blending capabilities rather than simply restore operations. These improvements should enable Big Spring to process a broader range of crude oils more efficiently while producing a more profitable product mix. With no additional major turnarounds planned for the remainder of the year, Delek expects the upcoming two quarters to represent its highest maintenance spending period, allowing the refinery system to operate at full capacity during the peak summer driving season.

The timing also appears favorable. Management noted that geopolitical disruptions have created tighter global refining markets, supporting stronger crack spreads and widening crude differentials. Delek believes its access to multiple domestic crude grades, combined with higher distillate and jet fuel yields, provides greater flexibility to capitalize on changing market conditions. This operational flexibility, coupled with a more reliable Big Spring refinery, could help the company capture stronger refining margins over the coming quarters.

How Does Delek Compare With Peers?Several U.S. refiners continue investing to improve refinery reliability and operating efficiency, although each follows a different strategy.

Marathon Petroleum (MPC - Free Report) has consistently prioritized refinery modernization and turnaround projects to improve utilization rates, reduce unplanned downtime and maximize margin capture across its refining network. By enhancing crude processing flexibility and operational efficiency, Marathon Petroleum has strengthened its ability to benefit from favorable crack spreads.

Delek's Big Spring turnaround reflects a similar objective, although the impact could be more pronounced given the refinery's importance to its overall operations. As Marathon Petroleum demonstrates, sustained investments in refinery reliability can translate into stronger long-term refining performance.

Likewise, Valero Energy (VLO - Free Report) has built a reputation for industry-leading refinery reliability through disciplined maintenance programs and continuous operational improvements. Valero Energy regularly invests in refinery turnarounds that enhance product yields, increase operational flexibility and support high utilization rates across its refining system. While Valero Energy operates a much larger refining portfolio than Delek, both companies share the goal of maximizing margin capture through reliable operations and efficient crude processing.

The successful completion of Big Spring's turnaround suggests Delek is adopting an approach similar to VLO, focusing on reliability and optimization to improve refining profitability under favorable market conditions.

DK’s Share Price, ROE and Earnings ExpectationsOver the past year, Delek stock rose 121.8%, beating the Oil Refining & Marketing sub-industry’s growth of 38.1%.

Image Source: Zacks Investment Research

Delek stock delivered a higher return on equity (“ROE”) of 22.9%, outperforming its sub-industry average of 15.64%.

Image Source: Zacks Investment Research

Analysts have become more optimistic about DK’s earnings outlook over the past 60 days, with 2026 EPS estimates revised sharply higher by 39.85%, while 2027 estimates saw a more modest increase of 5.91%, signaling stronger near-term earnings expectations.

Image Source: Zacks Investment Research

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

Key Takeaways URBN grew revenues 11.4% to $1.48 billion, supported by retail, wholesale and subscription gains.URBN's Wholesale segment revenues increased 24.8% as demand from specialty retail partners improved.URBN's subscription revenues rose 34.5%, driven by growth in average active subscribers. Urban Outfitters Inc. (URBN - Free Report) continues to benefit from the strength of its diversified operating model, with its Retail, Wholesale and Subscription businesses each contributing meaningfully to growth. By generating revenues through stores, digital channels, wholesale partnerships and its rapidly expanding Nuuly rental platform, the company has built a balanced business that is helping drive consistent performance across varying consumer spending environments.

The strategy delivered another strong quarter. In the first quarter of fiscal 2027, URBN reported record revenues of $1.48 billion, an increase of 11.4% from the prior-year period, marking its seventh consecutive quarter of record sales and earnings. Retail remained the company's largest business, with segment sales rising 8% to $1.22 billion. Comparable retail sales increased 5.6%, supported by high-single-digit growth in digital sales and mid-single-digit growth in store sales, highlighting healthy customer engagement across channels.

Wholesale provided a significant boost to overall performance. Segment revenues climbed 24.8% to $93.2 million, driven primarily by strong demand for FP Group products and increased sales to specialty retail customers. Management noted that wholesale growth was broad-based, extending across both specialty and department store accounts, underscoring the segment's growing contribution to URBN's revenue diversification strategy.

Meanwhile, Nuuly remained one of the company's fastest-growing businesses. Subscription revenues increased 34.5% to $167.3 million, fueled by a 33.3% increase in average active subscribers. Management highlighted that Nuuly added more than 110,000 average active subscribers compared with the prior-year quarter and is approaching the milestone of 500,000 active subscribers. The business generated an operating profit during the quarter, demonstrating that subscriber growth is being accompanied by improving profitability as the platform scales.

Management expects high-single-digit total sales growth in the second quarter. The outlook is supported by anticipated high-single-digit comparable sales growth at FP Group and Urban Outfitters, along with low- to mid-single-digit comparable sales growth at Anthropologie. With digital demand remaining strong, wholesale momentum continuing and Nuuly steadily expanding its subscriber base, URBN appears well-positioned to sustain growth across its Retail, Wholesale and Subscription segments.

URBN’s Price Performance, Valuation & EstimatesShares of Urban Outfitters have gained 6.3% over the past three months compared with the industry’s 3.2% growth.

Image Source: Zacks Investment Research

From a valuation standpoint, URBN trades at a trailing price-to-sales ratio of 0.99X, down from the industry’s average of 1.45X. It has a Value Score of A.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Urban Outfitters’ fiscal 2027 earnings implies year-over-year growth of 11.8%, whereas the same for fiscal 2028 indicates an uptick of 9.8%. Estimates for fiscal 2027 and 2028 have been revised upward by 11 cents and 13 cents, respectively, over the past 30 days.

Image Source: Zacks Investment Research

URBN currently carries a Zacks Rank #3 (Hold).

Key PicksWe have highlighted three better-ranked stocks in the retail space, namely Tapestry, Inc. (TPR - Free Report) , Genesco Inc. (GCO - Free Report) and Levi Strauss & Co. (LEVI - Free Report) .

Tapestry is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. The company sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Tapestry’s current fiscal-year earnings and sales indicates growth of 36.3% and 13.8%, respectively, from the year-ago actuals. TPR delivered a trailing four-quarter average earnings surprise of 15.6%.

Genesco is a Nashville-based specialty retail and branded company, sells footwear and accessories in retail stores. The company flaunts a Zacks Rank #1 at present.

The Zacks Consensus Estimate for Genesco’s current fiscal-year earnings indicates growth of 55.2% from the year-ago actuals. GCO delivered a trailing four-quarter average earnings surprise of 3.8%.

Levi Strauss designs and markets jeans, casual wear and related accessories for men, women and children. It currently carries a Zacks Rank #2 (Buy).

The Zacks Consensus Estimate for Levi Strauss’ current fiscal-year earnings and sales suggests growth of 12.7% and 5.2%, respectively, from the year-ago actuals. LEVI delivered a trailing four-quarter average earnings surprise of 21.4%.

The short, but glib, answer to the headline question posed for Viking Therapeutics (VKTX 0.32%) investors is "no," because the likelihood is that the $4.6 billion market cap company will be bought up by a larger pharmaceutical company if it has success in its clinical trials, and particularly with its lead drug candidate VK2735. Still, that doesn't mean the company can't deliver substantial value to investors. Here's why.

A competitive market for VK2735 VK2735 is a dual GLP-1/GIP agonist in development for weight loss and diabetes management. It's part of a growing and popular class of drugs that already dominate the weight loss market, thanks to blockbuster drugs like Eli Lilly's (LLY +1.35%) Zepbound (tirzepatide) and Novo Nordisk's (NVO +3.29%) Wegovy (semaglutide).

Image source: Getty Images.

At which point, investors are entitled to ask how Viking can hope to grab market share in a competitive market. It's a market where Eli Lilly and Novo Nordisk already have blockbusters, have oral weight loss pills approved, and continue to develop new drugs in the GLP-1 class.

What makes VK2735 different Viking's VK2735 has a couple of qualities that set it apart from the competition.

First, it's in development as a dual-formulation therapy. This raises the potential for it to be initially administered as an injectable to rapidly lose weight, then shifted to a less intrusive, more convenient oral dose for maintenance.

Second, VK2735 has demonstrated, in both injectable and oral form, an ability to significantly reduce weight loss. Note that the mid-teens percentage baseline weight loss in the two phase 2 VK2735 trials occurred at 13 weeks, compared to much longer periods for the Eli Lilly and Novo Nordisk oral offerings.

This raises the prospect of rapid weight loss over, say, a few months using the injectable form, before switching to the oral form for maintenance or to continue weight loss. This sort of option might be more attractive for many over taking oral pills for a year and a half to produce similar results.

Company

Clinical Trial

Drug Name

Formulation

Peak Weight Loss

Time to Peak Results

Current status

Novo Nordisk

Phase 3

Wegovy (semaglutide)

Oral

16.6%

64 weeks

Approved December 2025

Eli Lilly

Phase 3

Foundayo (orforglipron)

Oral

12.4%

72 weeks

Approved April 2026

Viking

Phase 2

VK2735

Subcutaneous

14.7%

13 weeks

Phase 3 results due mid to late 2027

Viking

Phase 2

VK2735

Oral

12.2%

13 weeks

Phase 3 results due late 2028 or early 2029

Data source: Company presentations.

To that end, Viking is conducting a phase 1 maintenance study in which participants will take injectable VK2735 for 19 weeks before moving to a maintenance dose, including weekly, biweekly, and monthly injectable dosing, as well as daily and weekly oral dosing. The results from the subcutaneous dosing are due for release in the third quarter of this year, but investors will have to wait until early 2027 for the oral dosing data.

The bears' viewpoint The glass-half-empty view holds that, aside from the phase 1 maintenance data, it won't be until late 2027 that Viking starts reporting phase 3 results for subcutaneous VK2735, and until 2028 for oral VK2735. Investors will need to be patient, and a lot can happen in that time.

In addition, the phase 2 oral trial has questionable safety and tolerability data, with a 20% discontinuation rate due to adverse events in the treated group, compared with 13% in the placebo group.

Today's Change

(

-0.32

%) $

-0.12

Current Price

$

37.36

A stock to buy? The bullish case argues that the titration in the phase 2 oral trial was too aggressive (note the 13-week dosing period) and that the phase 3 data will likely improve on it after management adjusts the titration. In addition, the phase 1 maintenance trial is expected to be successful and demonstrate the potential of the dual-formulation approach.

All told, there's a lot to like about Viking Therapeutics, and it wouldn't be surprising to see a larger company move in if the phase 1 maintenance trial data are good.

Key Takeaways Alto Ingredients returned to profitability in Q1 2026 after posting losses in the prior-year period.Stronger export, higher ethanol crush margins and richer product mix lifted gross profit to $9.2 million.Pekin upgrades aim to boost reliability, efficiency and capacity while expanding 45Z tax credit eligibility. Alto Ingredients, Inc. (ALTO - Free Report) posted a notable turnaround in the first quarter of 2026, returning to profitability after reporting losses in the prior-year period. The bigger question now is whether this improvement represents the start of a sustained trend or simply reflects favorable market conditions.

Several factors behind the quarter suggest the gains were not driven by a single event. In the first quarter of 2026, gross profit improved to $9.2 million from a gross loss of $1.8 million a year ago, supported by stronger export sales, higher ethanol crush margins and a richer product mix. Importantly, management stated that the company would have remained profitable even without the contribution from Section 45Z tax credits, indicating that core operations also improved.

Alto Ingredients is also working to make those gains more durable. The company is investing in projects aimed at improving plant reliability, increasing production efficiency and expanding capacity at its Pekin facility. These initiatives are expected to enhance operating performance while allowing more production to qualify for 45Z tax credits.

Still, sustaining profitability will depend on maintaining healthy industry margins. Management acknowledged that ethanol margins have historically weakened when higher production creates oversupply. However, it believes stronger export demand and broader adoption of E15 fuel could help balance the market and support margins.

For now, Alto Ingredients’ return to profitability appears to be supported by both operational improvements and a favorable market backdrop. The consistency of these drivers will determine whether the company's profitability momentum can be sustained over the coming quarters.

How ALTO's Profitability Momentum Compares With PeersGreen Plains Inc. (GPRE - Free Report) strengthened profitability in the first quarter of 2026 through higher ethanol margins, improved plant utilization and operational excellence. While treating 45Z tax credits as an additional benefit rather than the primary driver of returns, Green Plains also continues to invest in yield improvements and lower-energy operations to enhance its base business. Green Plains believes these initiatives will support durable profitability over the long term.

MGP Ingredients, Inc. (MGPI - Free Report) is improving profitability by emphasizing operational reliability, cost discipline and a richer product mix despite a challenging industry backdrop. Supported by ongoing efficiency initiatives, MGP Ingredients expanded Ingredient Solutions’ gross margin in the first quarter of 2026 through higher specialty protein and starch sales. MGP Ingredients expects these operational improvements and productivity measures to support stronger margins over time.

ALTO Stock Price Performance, Valuation & EstimatesShares of Alto Ingredients have surged 352.1% over the past year compared with the industry’s growth of 8.2%.

Image Source: Zacks Investment Research

From a valuation standpoint, ALTO trades at a forward price-to-sales ratio of 0.43, lower than the industry’s average of 3.21.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Alto Ingredients’ 2026 and 2027 earnings per share implies a year-over-year rise of 671.4% and 53.7%, respectively.

Image Source: Zacks Investment Research

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

July 06, 2026 08:00 ET  | Source: Rogers Communications, Inc.

Signs agreement to buy Kilmer Sports 25% ownership stake in MLSE

New global sports and entertainment powerhouse will deliver more for fans and customers 

TORONTO, July 06, 2026 (GLOBE NEWSWIRE) -- Rogers Communications Inc. announced today it has signed an agreement to buy the remaining 25% ownership stake in Maple Leaf Sports & Entertainment (MLSE) from Kilmer Sports Inc. for C$4.35 billion, increasing Rogers ownership in MLSE to 100%. 

“This is a defining moment for Rogers. Our full ownership of MLSE brings together Canada's premier communications company with Canada's premier sports and entertainment organization,” said Tony Staffieri, President and Chief Executive Officer, Rogers. “It gives us even more opportunity to invest in championship-calibre teams, create unique experiences for customers and fans, and unlock long-term value for shareholders.”

Investing to bring championships to Canada
Rogers has a long track record of investing in Canadian sports. With this transaction, Rogers will continue to invest to bring championships to Canada, to continuously improve the fan experience, and to deliver the best sports content to all Canadians.

Beyond MLSE, the Rogers sports portfolio includes ownership of the Toronto Blue Jays, Rogers Centre and Sportsnet, the number one sports media brand in Canada. The company also has strategic partnerships with the Vancouver Canucks, Edmonton Oilers, Calgary Flames, the NHL, the NBA, MLB and Live Nation. 

“Sports is a great unifier, it rallies us and brings us together in a truly unique way,” said Edward Rogers, Executive Chair, Rogers. “Winning is everything for fans and we’re committed to investing to bring championships to Canada as a proud owner and long-term steward of these beloved teams.”

“We want to recognize Larry Tanenbaum for his contributions to MLSE and to sports in Toronto,” added Rogers. “For decades, Larry has helped shape MLSE and we thank him for his partnership and his lasting impact.”

Delivering more value to fans and customers
Rogers will bring together its full sports and entertainment portfolio to deliver unique and compelling offers and experiences to fans and to Rogers customers. This will include investments to expand affordable options and access to tickets, ticket-giveaways, and unique once-in-a-lifetime experiences like attending the World Series or the Stanley Cup Finals.

“We will create more opportunities for fans to connect with the teams they love, and we will invest to deliver unique and compelling rewards for our customers,” added Staffieri. 

Investing to grow shareholder value
MLSE continues to be a highly valuable and appreciating investment. Full ownership of these iconic teams will strengthen Rogers ability to drive long-term growth across its communications, sports and entertainment businesses.

“Sports and entertainment are a core part of our business, and we plan to bring our world-class sports and entertainment assets together and surface more value for our shareholders long-term,” added Staffieri. “The strategic value of our sports business is even greater when you combine it with our core connectivity business – it gives us a unique value proposition to compete in a very crowded marketplace.”

Rogers intends to finance this transaction with its committed liquidity. As previously disclosed, Rogers intends to sell a minority stake in the consolidated Rogers sports, media and entertainment assets over the course of the next year.

The transaction is subject to league approvals. Rogers expects the transaction to close in Q4 2026.

About Forward-Looking Information
This news release includes “forward‐looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking information”) about, among other things, the transaction and related financing, including our receipt of any required league approvals, the anticipated benefits of the transaction and our sale of a minority stake in our sports, media and entertainment assets.

This forward-looking information is based on a number of expectations and assumptions as of the date of this news release. Actual events and results may differ materially from what is expressed or implied by forward‐looking information if the underlying expectations and assumptions prove incorrect or our objectives, strategies or intentions change or as a result of risks, uncertainties and other factors, many of which are beyond our control, including, the following: the transaction or the minority stake sale may not be completed on the anticipated terms or timeline or at all; we may instead fund all or a portion of the transaction through alternate sources, due to league requirements, general economic and market conditions, or other internal and external considerations; the anticipated benefits of the transaction may not be realized; the transaction is subject to closing conditions and termination rights; and the other risks outlined in our 2025 MD&A. We are under no obligation to update or alter any statements containing forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

About Rogers Communications Inc.
Rogers is Canada’s communications, sports and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.

Investor Relations
[email protected]
1-844-801-4792

Sandisk stock price has suffered a harsh reversal recently as the recent bull run hits a wall. SNDK dropped by 14% on Friday, reaching its lowest level since June 11. It has now slumped by 25% this year, even as top Wall Street analysts have maintained their bullish outlook.

Sandisk stock has done well in the past 18 months, making it the best gainer in the S&P 500 Index. It jumped by 4,000% in the last 12 months, with its market capitalization crossing the $300 billion mark.

Despite these gains, analysts are highly bullish on the stock, with most of them hiking their forecasts. In a recent note, Bernstein hiked its target from $2,100 to $2,500, citing the strong demand for memory products after the robust Micron earnings.

Bank of America hiked its target from $1,700 to $3,400, noting that its multi-year contracts were helping it avoid the cyclical issues that have affected the industry in the past. With SNDK trading at $1,745, a surge to $3,000 implies a 71% jump. 

Citigroup has also hiked the target price from $2,025 to $2,500, while Cantor Fitzgerald boosted from $1,800 to $2,900. Other companies that have hiked their targets are Mizuho and Morgan Stanley.

Sandisk’s growth to continue but risks remainThere is a possibility that Sandisk’s revenue growth will accelerate in the coming months as memory prices rise. A recent report showed that DRAM and NAND contract prices rose by 18% and 15% in the second quarter, respectively. While this was a strong growth, it was lower than the 60% experienced in Q1.

Sandisk primarily sells memory equipment like SSDs, memory cards, and USB flash drives. Yet, the cooling DRAM and NAND prices mean that its business too may be affected.

Data shows that analysts are predicting that its revenue jumped by 335% in the last quarter to $8.29 billion. For the year, the revenue is expected to grow by 168% to $19 billion, followed by 141% to $47 billion. These are strong numbers for a company that was spun out by Western Digital last year.

READ MORE: Sandisk stock is firing on all cylinders: is a day of reckoning coming?

The risk, however, is that the soaring memory prices may lead to overproduction, which will affect the global supply. Historically, the memory industry has experienced such periods of strong growth followed by slumps.

On the positive side for Sandisk, its stock is not highly overvalued. Ideally, you would expect a high-margin company growing by triple digits to have high price-to-earnings multiples. In its case, it trades at a forward PE ratio of 26, slightly higher than S&P 500 Index’s 22.

The challenge for Sandisk is that any sign that memory prices are cooling will have a negative impact on its stock. 

SNDK stock chart | Source: TradingView

The other risk facing SNDK stock is that its technicals have worsened recently, a sign that it has moved to the distribution phase of the Wyckoff Theory. This phase is then followed by the markdown stage.

The stock’s Relative Strength Index (RSI) has formed a bearish divergence pattern, moving from a high of 81 to 46 today. It also remains much higher than the 100-day moving average, which is at $1,285.

The bearish divergence and a potential mean reversion may push it lower in the near term. On the other hand, a move above the key resistance at $2,360 will invalidate the bearish outlook.

July 06, 2026 08:00 ET  | Source: TeraWulf Inc.

Long-Term AI Infrastructure Lease Expected to Generate ~$19 Billion of Contracted Revenue Over Initial Term

Abernathy Transaction Monetizes Approximately $450 Million Investment at a Premium and
Provides Capital to Expand Wholly Owned AI Infrastructure Portfolio

EASTON, Md., July 06, 2026 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner, developer, and operator of vertically integrated digital infrastructure, today announced two significant transactions that further advance its strategy of developing, owning, and operating large-scale AI infrastructure campuses.

The Company has executed a 20-year lease agreement with Anthropic at its Justified Data campus in Hawesville, Kentucky. The lease is expected to generate approximately $19 billion of contracted revenue over the initial lease term.

Separately, TeraWulf has entered into a definitive agreement to sell its 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by its joint venture partner, Fluidstack. The transaction monetizes TeraWulf's approximately $450 million investment at a premium to invested capital, unlocking significant capital for redeployment into wholly owned AI infrastructure opportunities.

Collectively, the transactions enhance TeraWulf’s long-term revenue visibility, strengthen its financial position, and further align the Company’s capital with infrastructure platforms where it maintains direct ownership, customer relationships, and operational control.

Anthropic Executes 20-Year Lease at Justified Data Campus

TeraWulf has entered into a 20-year lease agreement with Anthropic for a purpose-built AI infrastructure campus at the Justified Data site in Hawesville, Kentucky.

The campus will accommodate approximately 401 MW of critical IT load and will be developed in multiple phases. Initial capacity is expected to be placed into service during the second half of 2027, with the campus ramping to the full 401 MW by early 2028.

The lease is expected to generate approximately $19 billion of contracted lease revenue over the initial term and is expected to be supported by an investment-grade credit.

TeraWulf Monetizes Abernathy Investment

Under the terms of the Abernathy transaction, TeraWulf will sell its entire 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by Fluidstack, its joint venture partner and a leading AI cloud infrastructure provider.

The Abernathy Joint Venture was established in 2025 to develop a 168 MW critical IT load AI data center campus in Abernathy, Texas. Since the project's inception, TeraWulf and Fluidstack have worked closely to advance the development of the campus. Following the closing of the transaction, Fluidstack will continue to leading the project.

The sale enables TeraWulf to realize the value created through its $450 million investment and redeploy that capital into AI infrastructure opportunities where it can capture greater long-term economic value through direct ownership and operation.

Management Commentary

Paul Prager, Chairman and Chief Executive Officer of TeraWulf, commented:

“When we announced the Justified Data campus acquisition in February, we told investors that we expected to secure a major customer commitment by around the end of the second quarter of 2026. The timing of today's announcement reflects the completion of final documentation and customary transaction processes, and we are proud to announce this landmark partnership with Anthropic.”

“The Anthropic lease validates our strategy and establishes a long-duration revenue stream with one of the world’s leading AI companies. The lease provides approximately $19 billion of contracted lease revenue over its initial term, creates a framework for future expansion, and demonstrates the value of our ability to source power, develop infrastructure, and secure long-term customer commitments.”

“At the same time, the sale of our ownership interest in Abernathy to a group led by Fluidstack crystallizes the value created through that investment and generates significant capital for redeployment into infrastructure platforms where we maintain direct ownership, customer relationships, and operational control.”

“Together, these transactions position TeraWulf for its next phase of growth. Our strategy is centered on owning and operating critical infrastructure assets, maintaining direct relationships with our customers, and controlling the long-term evolution of our campuses. We believe this model provides the greatest opportunity to generate durable cash flows and attractive long-term returns for shareholders.”

Strategic Benefits

Following completion of the transactions, TeraWulf expects to:

Add approximately $19 billion of contracted revenue under the initial 20-year lease term.Further expand its long-term infrastructure relationship with Anthropic, one of the world's leading AI companies.Bring the initial Anthropic capacity at Justified Data online in the second half of 2027.Monetize its approximately $450 million investment in the Abernathy Joint Venture at a premium to invested capital, while simplifying TeraWulf's financial statements and streamlining financial reporting through the elimination of joint venture accounting.Recycle capital into wholly owned AI infrastructure opportunities where TeraWulf can capture greater long-term economic value through direct ownership and operation.Further strengthen TeraWulf’s position as a leading owner, developer, and operator of AI infrastructure. Together, these transactions demonstrate TeraWulf's ability to create value across the AI infrastructure lifecycle – from originating and developing large-scale campuses, to securing long-term customer commitments, to monetizing mature infrastructure investments and redeploying capital into future growth opportunities.

About TeraWulf

TeraWulf develops, owns, and operates large-scale digital infrastructure designed to support AI, high-performance computing (HPC), and other advanced compute workloads. Leveraging deep expertise in energy markets, power infrastructure, and grid integration, the Company develops and operates purpose-built facilities where power availability, scalability, and operational execution are critical competitive advantages. By strategically securing and monetizing high-value power resources, TeraWulf is well-positioned to serve the growing infrastructure needs of hyperscalers, AI innovators, and enterprise customers. Learn more at terawulf.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “seek,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “strategy,” “opportunity,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) TeraWulf’s ability to attract additional customers to lease its HPC data centers; (2) TeraWulf’s ability to complete our data center campuses and future strategic growth initiatives in a timely manner or within anticipated cost estimates; (3) operational risks associated with our data centers and our ability perform under its existing data center lease agreements; (4) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to expansion or existing operations; (6) adverse geopolitical or economic conditions, including a high inflationary environment, the implementation of new tariffs and more restrictive trade regulations; (7) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (8) the availability and cost of power as well as electrical infrastructure equipment necessary to maintain and grow the business and operations of TeraWulf; and (9) other risks and uncertainties detailed from time to time in TeraWulf’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

Investors:
[email protected]

Media:
[email protected]

Broadcom Inc. AVGO shares rose 5.3% in trading on Monday after the semiconductor company announced an extension of its long-standing partnership with Apple Inc. through 2031.

The agreement reinforces Broadcom's position as one of the iPhone maker's key chip suppliers.

The new multi-year agreement expands the companies' collaboration on custom silicon products and provides Broadcom with long-term revenue visibility from one of its largest customers.

Apple accounts for about 20% of Broadcom's annual revenue, according to analysts, making the partnership strategically important for the chipmaker.

Broadcom said it has agreed to expand its partnership with Apple through 2031 to develop and supply custom chips, easing concerns over the iPhone maker's reliance on the semiconductor company.

According to Broadcom's recent SEC filing:

"Broadcom Inc. (“Broadcom”) and Apple Inc. (“Apple”) have agreed to expand their long-standing technology collaboration through 2031 by entering into new multi-year long-term agreements for Broadcom to develop and supply a range of custom ASIC silicon products for use in multiple generations of Apple products."

The agreement covers a range of custom silicon products that will be used across multiple generations of Apple devices.

Financial terms of the extension were not disclosed.

Broadcom has supplied Apple with key components for years, including radio frequency chips that enable iPhones to connect to cellular networks, Wi-Fi and Bluetooth connectivity chips, and other networking semiconductors.

Although Apple has developed several in-house chips, including its C1 modem, it continues to rely on Broadcom for wireless and radio-frequency components.

The companies had previously announced a multibillion-dollar agreement in 2023 for Broadcom to develop and manufacture 5G radio frequency components.

The latest extension builds on that relationship and secures Broadcom's role in Apple's supply chain through the end of the decade.

The extended partnership aligns with Apple's strategy of securing long-term supply agreements with key semiconductor companies to strengthen the resilience of its supply chain.

Apple relies on Taiwan's TSMC, the world's largest contract chipmaker, to manufacture its in-house processors, including the M-series chips used in Mac computers and the A-series processors that power iPhones.

Demand for advanced chips has intensified as artificial intelligence adoption accelerates.

The growth of AI inference—the process by which models respond to user queries—has increased demand for custom chips and advanced processors, creating greater competition for manufacturing capacity.

TSMC has faced heavy demand from AI chipmakers such as Nvidia. Apple Chief Executive Tim Cook said in April that these capacity constraints had affected iPhone sales.

Apple is also in discussions with Intel to manufacture some chips in the United States, although analysts have said volume production is unlikely before late 2027.

The broader semiconductor industry has experienced rising component costs as AI infrastructure spending continues to expand.

Prices for memory and storage chips have climbed sharply in recent months, driven by increasing demand from AI hyperscalers.

Apple raised prices for its MacBooks and iPads in June after memory chip costs surged as much as 98% during the first half of 2026.

Beyond its relationship with Apple, Broadcom has been expanding its presence in the artificial intelligence market by developing AI-specific chips for other major technology companies, including Alphabet and Meta Platforms.

CANADA - 2026/07/01: In this photo illustration, the Microsoft logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

This article was written by Doug Nathman, with research by his team at Trefis.

Microsoft (MSFT) shares have faced challenges, experiencing a 20% decline over the past year and significantly lagging behind the market. The discussion is primarily centered around one substantial figure: a strategy to allocate approximately $190 billion toward capital expenditures in the calendar year 2026. Skeptics question whether the appetite for artificial intelligence is robust enough to justify this investment.

However, another, more revealing statistic receives far less focus. It serves as a counterpoint to the stock's performance.

This figure is Microsoft’s Commercial Remaining Performance Obligation, or RPO. In simpler terms, it reflects the company’s backlog of contracted future revenue derived from signed agreements. It currently amounts to $627 billion.

How Valid Is This Anticipated Revenue?A significant number is one aspect; gaining momentum is another. This backlog is not just a stagnant accumulation of outdated contracts. The company's commercial RPO has increased by 26% year-over-year, even when factoring out the substantial commitments from its associate OpenAI. This illustrates widespread demand throughout the business.

Even more indicative for the near future is the speed at which new business is being secured. The segment of the backlog expected to be recognized as revenue within the following 12 months has risen by 39% year-over-year. This offers a distinct perspective on the company’s growth trajectory, suggesting that clients are entering into new, high-value agreements.

How This Backlog Mitigates Risks Associated With The AI Spending SurgeThe apprehension regarding Microsoft’s expenditure arises from a perceived disconnect between investment and returns. Nevertheless, the RPO figure addresses this disparity. It signifies legally binding commitments from clients to pay for services in the future.

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This capital expenditure is not being utilized based on mere speculation; it is being invested to develop the capacity necessary to accommodate demand that, to a great extent, has already been secured. This backlog serves as proof that the enterprise is investing to meet a contracted reality, progressing beyond a mere forecast. To gain further insight into how the company generates value through its platform, it is essential to comprehend its business model.

For investors monitoring Microsoft, the key earnings will always be significant. However, a clear indication of whether the company’s substantial investment is being met with demand lies in its RPO. As long as this backlog of anticipated business continues to expand, it implies that the company’s situation is more favorable than what the recent stock price suggests.

And if your aim is broad exposure to technology rather than just this single entity, a technology ETF like VGT encompasses that entire sector.

A Strong Signal Doesn't Justify Bet the Farm

A buy signal this evident merits action — but not with more of your net worth than you can afford to potentially see diminish by half. Strong conviction can lead single positions to quietly grow too large, and one unforeseen negative can inflict lasting harm, while selling to rebalance can provide a portion to the IRS. There exists a means to safeguard the position and diversify in a tax-efficient manner.

BlackRock, Inc. (NYSE:BLK) will release its second quarter earnings report before the opening bell on Wednesday, July 15.

Analysts expect the New York-based company to report quarterly earnings of $12.55 per share, up from $12.05 per share in the year-ago period. The consensus estimate for BlackRock’s quarterly revenue is $6.63 billion. It reported $5.42 billion last year, according to Benzinga Pro.

On May 20, BlackRock declared a quarterly dividend of $5.73 on common stock.

BlackRock shares rose 1.6% to close at $995.73 on Thursday.

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

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

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

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BOISE, Idaho, July 06, 2026 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) and Ford Motor Company today announced a long-term Strategic Customer Agreement (SCA) to strengthen the supply of memory and storage solutions supporting Ford’s next-generation vehicle production.

Micron is increasing output of key automotive memory solutions with capacity expansions designed to support long product lifecycles and ensure sustained supply for critical production programs. These investments are part of Micron’s broader efforts to scale supply responsibly in line with accelerating global demand for memory and storage, supporting the broader automotive ecosystem and strengthening critical U.S. infrastructure.

This agreement is supported by Micron’s ongoing investments to expand and localize manufacturing for automotive customers, including its expansion of advanced DRAM production at its Manassas, Virginia fab.

“Producing the high-volume vehicles of the future in the U.S. will require a resilient supply chain,” said Jim Farley, President and CEO of Ford Motor Company. “We applaud Micron’s commitment to manufacturing in America, expanding its domestic production and investing in a skilled workforce.”

“We are proud to extend our collaboration with Ford to help ensure a reliable, long-term supply of memory and storage solutions,” said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. “As vehicles become more intelligent and data-intensive, the importance of advanced memory and storage continues to grow, making collaboration and long-term supply increasingly important. Through supply assurance, deep technology collaboration, and continued investment in manufacturing capacity, we are helping enable consistent, long-term support for Ford’s next-generation vehicle production as demand for advanced memory continues to grow.”

This SCA is one of the 16 discussed on Micron’s fiscal third-quarter 2026 financial conference call.

About Micron Technology, Inc. 

Micron Technology, Inc. is an industry leader in innovative memory and storage solutions, transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com. 

Forward-Looking Statements  

This press release contains forward-looking statements, including statements regarding the anticipated benefits of the Micron-Ford collaboration. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to the documents Micron files with the Securities and Exchange Commission, specifically its most recent Form 10-K and Form 10-Q. These documents contain and identify important factors that could cause actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at https://investors.micron.com/risk-factor. Although Micron believes that the expectations reflected in the forward-looking statements are reasonable, Micron cannot guarantee future results, levels of activity, or achievements. Micron is under no duty to update any of the forward-looking statements after the date of this press release to conform these statements to actual results.

 © 2026 Micron Technology, Inc. All rights reserved. Information, products and/or specifications are subject to change without notice. Micron, the Micron logo and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

Micron Media Relations Contact:
Mark Plungy 
+1 (408) 203-2910
[email protected]

Micron Investor Relations Contact:
Satya Kumar
+1 (408) 450-6199
[email protected]

Key Takeaways APD shares gained 13.5% in a month as portfolio actions boosted investor confidence.APD exited the Louisiana Clean Energy Complex after expected returns failed to meet its criteria. Air Products is finalizing an agreement with Yara to market renewable ammonia from the NEOM project. Air Products and Chemicals, Inc.’s (APD - Free Report) shares have gained 13.5% over the past month. The company has also outperformed the Zacks Chemicals Diversified industry’s decline of 2.2% over the same time frame. APD has also topped the S&P 500’s 0.5% rise over the same period.

Let’s dive into the factors behind APD stock’s price appreciation.

APD’s One-month Price Performance
Image Source: Zacks Investment Research

What’s Driving APD’s Stock?APD’s gains reflect its recent move to exit the Louisiana Clean Energy Complex (LCEC) project, as expected financial returns fail to meet its stringent return criteria.  APD also said that it is finalizing a marketing and distribution agreement for renewable ammonia from the NEOM Green Hydrogen Project in Saudi Arabia with Yara International ASA.

Air Products also decided to discontinue its proposed zero-carbon liquid hydrogen plant in Casa Grande, AZ, along with several small-scale clean energy distribution projects. The move reflects challenging market conditions, project-specific economic hurdles and slower-than-anticipated growth in specific markets, especially hydrogen for mobility. The LCEC project exit and other portfolio actions are expected to result in pre-tax charges not exceeding $2.9 billion in APD's fiscal third quarter. APD plans to maximize the redeployment of certain assets to current or future projects.

These strategic actions to streamline the company's clean energy strategy and optimize its project portfolio removed a major investor overhang, driving the stock higher. The company's disciplined focus on portfolio optimization and higher-return opportunities has also strengthened investor confidence in its long-term growth prospects.

Air Products reaffirmed its commitment to expanding its presence in Louisiana, where it operates 18 industrial gas plants and the world's largest hydrogen pipeline network, supplying refinery customers across the U.S. Gulf Coast. Through its agreement with Yara, the company will also utilize Yara’s global supply chain to market and distribute renewable ammonia worldwide.

Meanwhile, Air Products remains focused on driving productivity to improve its cost structure. It is seeing the positive impacts of its productivity actions. Benefits from additional productivity and cost improvement programs are likely to support its margins. The company also remains focused on improving pricing amid an inflationary environment.

Air Products is also taking action to right-size the organization through headcount reductions and expects these reductions to result in $250 million in annual cost savings once completed. It has already realized roughly $50 million in savings from headcount reduction, as divulged in its fiscal second quarter earnings call.

APD’s Zacks Rank & Other Key PicksAPD currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the Basic Materials space are L.B. Foster Company (FSTR - Free Report) , Albemarle Corporation (ALB - Free Report) and Perimeter Solutions, Inc. (PRM - Free Report) . FSTR, ALB and PRM carry a Zacks Rank #1 (Strong Buy), each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for L.B. Foster’s current-year earnings is pegged at $1.74 per share, implying a 152.2% year-over-year increase. The Zacks Consensus Estimate for FSTR’s current-year earnings has been revised 6.1% higher over the past 60 days.

 The consensus estimate for Albemarle’s current-year earnings is pegged at $12.98 per share, indicating a 1,743.2% year-over-year increase. ALB’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with an average surprise of 54.1%.

The Zacks Consensus Estimate for Perimeter Solutions’ current-year earnings stands at $1.78 per share, implying a 32.8% year-over-year increase. The Zacks Consensus Estimate for PRM’s current-year earnings has been revised 21.1% higher over the past 60 days.

BRENTWOOD, Tenn., July 06, 2026 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (CoreCivic or the Company) announced today that on July 2nd, 2026, it completed the sale of its 2,560-bed California City Detention Facility in California City, California (the California City Facility) and its 1,994-bed Otay Mesa Detention Center in San Diego, California (the Otay Mesa Facility) to the United States of America and its assigns, by and through the Department of Homeland Security for an aggregate gross sales price of $1.5 billion, including $732.6 million for the California City Facility and $739.2 million for the Otay Mesa Facility. These two purpose-built facilities were specifically designed to care for individuals in a secure environment. After federal and state income taxes of approximately $0.4 billion and transaction expenses, the Company anticipates its net proceeds from the asset sales to be approximately $1.1 billion.

The Company expects to use a portion of the net proceeds from the asset sales to

Repay all or a portion of the outstanding indebtedness under the Company’s Bank Credit Facility, which currently has an outstanding balance of $270.0 million on the Revolving Credit Facility, $107.8 million on the Initial Term Loan, and $100.0 million on the Incremental Term Loan, and Repay the remaining outstanding balance of $238.5 million of the Company’s 4.75% senior notes, which are scheduled to mature in October 2027 (the 4.75% Notes).
The Company expects to use the remaining net proceeds for general corporate purposes, which may include additional debt repayments and share repurchases of the Company’s common stock. The credit agreement governing the Company’s Bank Credit Facility (the Credit Agreement) and the indenture (the 2029 Notes Indenture) governing the Company’s outstanding 8.25% senior notes due 2029 (the 8.25% Notes) limit our ability to make certain restricted payments, including share repurchases. However, the Company is permitted to make unlimited restricted payments (i) under the Credit Agreement, to the extent the Company’s consolidated secured leverage ratio (as defined therein) calculated on a pro forma basis after giving effect to such restricted payment would be equal to or less than 1.50 to 1.00 and no default exists thereunder, and (ii) under the 2029 Notes Indenture, to the extent the Company’s consolidated total leverage ratio (as defined therein) calculated on a pro forma basis after giving effect to such restricted payment would be equal to or less than 2.00 to 1.00. 

The Company also expects to maintain balance sheet flexibility to pursue growth opportunities. These opportunities include, but are not limited to, potential acquisitions within the Company’s lines of business and those that provide complementary services provided such opportunities enhance the Company’s business, diversify the Company’s cash flows, and/or increase the services the Company offers to its customers, similar to the acquisition of Clinical Solutions Pharmacy completed on April 1, 2026.

The Company currently expects to continue to manage the California City Facility and the Otay Mesa Facility under the existing management contracts with Immigration & Customs Enforcement (ICE) related to each facility, although the terms of the management contracts may be modified to reflect the change in ownership. However, the Company can provide no assurance that it will continue to manage these facilities in the future, or that the terms of the existing management agreements will remain the same. As has always been the case, ICE has the ability to terminate the management contracts for non-appropriation of funds or for convenience. The management contract for the California City Facility expires in August 2027, and the management contract for the Otay Mesa Facility expires in December 2029 and contains a five-year extension option.

In addition to these asset sales, the Company has been in discussions with ICE about the potential acquisition of additional detention facilities from the Company. These discussions are in various stages, and the Company can provide no assurance that any additional sales will occur.

Patrick Swindle, CoreCivic's President and Chief Executive Officer, commented, "We are pleased with the sales of these two mission-critical facilities for the Company’s government partner, which demonstrates the value of the Company’s underlying real estate portfolio, while reflecting our role as a long-term, flexible solutions provider to government. The sale of these facilities at what we believe is a fair valuation provides the Company with significant balance sheet flexibility and positions us well to grow the Company’s businesses and return value to its shareholders, while remaining a dependable partner for government."

About CoreCivic

CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that help build safer, healthier, and more productive communities one person at a time through residential corrections, detention, and reentry management, adjacent service offerings that include pharmaceutical, transportation, and alternatives to incarceration, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and one of the largest operators of such facilities in the United States. CoreCivic has been a flexible and dependable partner for government for more than 40 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

Forward-Looking Statements

This press release contains statements as to our beliefs and expectations of the outcome of future events that are "forward-looking" statements as defined within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) changes in government policy, legislation and regulations that affect utilization of the private sector for corrections, detention, and residential reentry services, in general, or our business, in particular, including, but not limited to, the continued utilization of our correctional and detention facilities by the federal government as a consequence of presidential executive orders, changes in how the federal government, including ICE, elects to use our detention capacity or otherwise procures alternative detention capacity, and the impact of any changes to immigration reform and sentencing laws (we do not, under longstanding policy, lobby for or against policies or legislation that would determine the basis for, or duration of, an individual’s incarceration or detention); (ii) our ability to obtain and maintain correctional, detention, and residential reentry facility management contracts because of reasons including, but not limited to, sufficient governmental appropriations, contract compliance, negative publicity and effects of inmate disturbances; (iii) changes in the privatization of the corrections and detention industry, the acceptance of our services, the timing of the opening of new facilities and the commencement of new management contracts (including the extent and pace at which new contracts are utilized), as well as our ability to utilize available beds; (iv) our ability to successfully activate idle facilities in a timely manner in order to meet the growth in demand for our facilities and services from the federal government that has occurred as a result of changes in policies and actions of the current presidential administration, and to realize projected returns resulting therefrom; (v) general economic and market conditions, including, but not limited to, the impact governmental budgets can have on our contract renewals and renegotiations, per diem rates, and occupancy; (vi) fluctuations in our operating results because of, among other things, changes in occupancy levels; competition; contract renegotiations or terminations; inflation and other increases in costs of operations, including a rise in labor costs; fluctuations in interest rates and risks of operations; (vii) government budget uncertainty, the impact of debt ceilings and government shutdowns, including partial shutdowns, and changing budget priorities; (viii) our ability to successfully identify and consummate future development and acquisition opportunities, integrate their operations, and realize projected returns resulting therefrom; (ix) the availability of debt and equity financing on terms that are favorable to us, or at all; and (x) the potential for additional sales and intended use of proceeds from the asset sales described in this press release. Other factors that could cause operating and financial results to differ are described in the filings we make from time to time with the Securities and Exchange Commission.

We take no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services, except as may be required by law.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, including the 4.75% Notes or the 8.25% Notes, nor shall it constitute a notice of redemption under the indenture governing the 4.75% Notes or the 2029 Notes Indenture, nor shall there be any offer, solicitation or sale of the 4.75% Notes, the 8.25% Notes or any other securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

Contact: Investors: Jeb Bachmann - Managing Director, Investor Relations - (615) 263-3024
Financial Media: David Gutierrez, Dresner Corporate Services - (312) 780-7204   

106,000 Square Foot Facility Expansion Reflects Increased Demand for Kratos Jet Drones and Kratos' Continued Investment in Strengthening the United States Defense Industrial Base Through Scalable, Efficient Manufacturing Capacity Capable of Producing Affordable, Mission-Ready Systems at Quantity and at Speed July 06, 2026 08:00 ET  | Source: Kratos Defense & Security Solutions, Inc.

SAN DIEGO, July 06, 2026 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in the defense, national security and global markets, today announced a major expansion of its Oklahoma City manufacturing campus with the addition of over 100,000 square feet of manufacturing and production space. The expansion supports increasing customer demand for the company's family of high-performance, affordable jet-powered drone systems, including the Valkyrie collaborative combat aircraft, the Firejet/Mighty Hornet IV and others.

The facility expansion represents Kratos' continued investment in strengthening the United States defense industrial base through scalable, efficient manufacturing capacity capable of producing affordable, mission-ready systems at quantity and at speed. Today, Kratos produces approximately 165 high-performance jet drones annually, and this expansion will enable the company to further increase production to meet growing demand from the U.S. Department of War and allied customers.

"The future fight demands the ability to rapidly produce affordable, high-performance systems at scale," said Steve Fendley, President of Kratos Unmanned Systems Division. "This expansion in Oklahoma City reflects our long-term commitment to investing ahead of customer demand and building the industrial capacity needed to support the Department of War's modernization priorities. As autonomous systems become increasingly central to the future force, manufacturing readiness and producing at scale will be just as important as technology readiness, maybe more."

The expanded facility will provide additional manufacturing, assembly, integration and test capacity for multiple Kratos tactical jet aircraft programs.

Production will support Valkyrie, the affordable, runway-flexible collaborative combat aircraft selected by the U.S. Marine Corps as the foundation of its Collaborative Combat Aircraft (CCA) program of record. Designed to operate solo, in swarms, or alongside crewed aircraft while providing additional mass, reach and mission capability, Valkyrie represents a new generation of affordable autonomous airpower. The expanded facility will also manufacture the Mighty Hornet IV, which is expected to serve as a key tactical capability supporting Taiwan's defense requirements, reflecting growing international demand for affordable, high-performance unmanned systems.

The expanded facility will also support increased production capacity for Kratos' family of high-performance aerial target systems, including the Firejet. Kratos’ Firejet system supports realistic operational test, evaluation and weapons training across the U.S. military and allied nations, with demand for advanced target capabilities continuing to grow, including for the test and training of missile, radar, air defense, C-UAS and directed energy weapon systems, and their crews.

Kratos has consistently invested in manufacturing infrastructure, production technologies, and workforce development to ensure the company can deliver affordable systems at the pace and scale required by evolving national security needs. The Oklahoma City expansion is the latest in a series of investments focused on expanding domestic production capacity and strengthening the resilience of the U.S. defense industrial base.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading-edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value-add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com and follow Kratos on LinkedIn and X.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 28, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Cantrell
[email protected]

Kratos Investor Information:
877-934-4687
[email protected]

LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) announced today that it has successfully completed its previously announced acquisition of Precision Components Group, LLC (PCG), including its subsidiaries Precision Custom Components (PCC) and DC Fabricators (DCF). PCG is a U.S. manufacturer of complex, heavy-walled and heat-transfer components. The acquisition expands BWXT’s heavy-manufacturing footprint and enhances the company’s ability to deliver U.S.-made nuclear components for the commercial sector.

“Growing demand for reliable, carbon-free energy underscores the urgent need to strengthen the U.S. nuclear manufacturing base,” said John MacQuarrie, BWXT president for Commercial Operations.

Share“Growing demand for reliable, carbon-free energy underscores the urgent need to strengthen the U.S. nuclear manufacturing base,” said John MacQuarrie, BWXT president for Commercial Operations. “By expanding our manufacturing capabilities, we can better support reactor life-extension programs, new build activity and the long-term energy reliability our communities depend on.”

PCG joins BWXT’s Commercial Operations segment and will continue operating at its current facilities in York, Pennsylvania, and Florence, New Jersey. The acquisition adds more than 500,000 square feet of U.S. heavy-manufacturing capacity, including large-envelope machining, heavy weldments, pressure vessels, heat exchangers and ASME-certified component fabrication, and a skilled workforce of over 450 employees.

In addition to expanding commercial nuclear capacity, PCG will continue supporting existing workscopes, including components and services for Electric Boat, Bechtel Plant Machinery, Inc. and other U.S. Navy programs.

Forward-Looking Statements

BWXT cautions that this release contains forward-looking statements, including, without limitation, statements relating to the acquisition of Precision Components Group, LLC, including its subsidiaries Precision Custom Components, LLC, and DC Fabricators, Inc.; anticipated benefits of the acquisition; and future demand for commercial nuclear manufacturing services. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, the ability to successfully integrate the acquired businesses; changes in market demand or government policy; and supply-chain, labor or cost pressures. If one or more of these or other risks materialize, actual results may differ materially from those expressed or implied by the forward-looking statements.

For a more complete discussion of these and other risk factors, please see BWXT’s Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release and undertakes no obligation to update or revise any forward-looking statement, except as required by applicable law.

About BWXT

At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. A U.S.-based company with approximately 10,000 employees, BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, nuclear medicine, space exploration and environmental restoration. BWXT owns and operates 17 manufacturing facilities globally, and its 14 strategic partnerships support the U.S. and Canadian governments at more than two dozen additional locations.

For more information, visit www.bwxt.com. Follow us on LinkedIn, X, Facebook and Instagram.

More News From BWX Technologies, Inc.

TARRYTOWN, N.Y., July 06, 2026 (GLOBE NEWSWIRE) -- Prestige Consumer Healthcare Inc. (NYSE:PBH) (“Prestige”) today announced that it has closed the previously announced acquisition of LaCorium Health (“LaCorium”), priced a private offering of $400 million in senior notes, and will report its first quarter fiscal 2027 results on August 6, 2026.

Completion of LaCorium Health Acquisition

The Company completed the acquisition on July 1, 2026. The closing was finalized pursuant to the terms of the definitive agreement announced on May 13, 2026, under which Prestige agreed to acquire LaCorium for approximately $150 million in cash. The Company financed the transaction with cash on hand and existing credit facilities.

Founded in Australia and introduced in 1998, LaCorium is a leader in Australian therapeutic skin care designed to treat individual skin ailments. Products are sold under the Dermal Therapy®, Flexitol®, and Crampeze® brands in need-state categories such as lip care (cold sores), skin care (eczema & acne), foot care (heel balm, antifungal), hair & scalp (eczema), and more. Approximately 75% of LaCorium’s sales are generated in Australia, where the brand holds the #1 market position in lip care and the #3 position in foot care.

LaCorium generates approximately $40 million in revenue annually and is expected to generate approximately $12 million in EBITDA, including the benefits from anticipated synergies, once the business is fully integrated. The Company expects LaCorium to deliver strong long-term revenue growth, supported by category growth, innovation, and continued geographic expansion.  

Pricing of Senior Notes Offering

Prestige has also priced an offering of $400 million in aggregate principal amount of 6.25% senior notes due 2034 (the “notes”) in a private offering. The sale of the notes is expected to be completed on or about July 15, 2026, subject to customary closing conditions. The notes will be senior unsecured obligations of Prestige Brands, Inc. and will be guaranteed by the Company and certain of its domestic subsidiaries. The Company intends to use the net proceeds from the offering, together with cash on hand, to redeem all $400 million of Prestige’s’ outstanding 5.125% Senior Notes due January 2028, and to pay related fees and expenses. The change in interest expense is contemplated in Prestige’s medium-term outlook provided on May 13, 2026.

The notes and related guarantees are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes and related guarantees. Any offers of the notes and related guarantees will be made only by means of a private offering memorandum. The notes and related guarantees have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

First Quarter Fiscal 2027 Earnings Call

The Company will issue its fiscal 2027 first quarter earnings release on Thursday, August 6, 2026 before the market open. The Company will host a conference call to discuss the results that same morning at 8:30 a.m. ET.

To participate in the live Internet webcast of the conference call, it can be accessed from the Investor Relations page of www.prestigeconsumerhealthcare.com. To participate in the conference call via phone, participants may register for the call here to receive dial-in details and a unique pin. While not required, it is recommended to join 10 minutes prior to the event start.

A conference call replay will be available for approximately one week following completion of the live call and can be accessed on the Company’s Investor Relations page.

About Prestige Consumer Healthcare Inc.

Prestige Consumer Healthcare markets, sells, manufactures and distributes consumer healthcare products to retail outlets throughout the U.S. and Canada, Australia, and in certain other international markets. The Company’s diverse portfolio of brands include Breathe Right® nasal strips, Monistat® and Summer’s Eve® women's health products, BC® and Goody's® pain relievers, Clear Eyes® and TheraTears® eye care products, DenTek® specialty oral care products, Dramamine® motion sickness treatments, Fleet® enemas and glycerin suppositories, Chloraseptic® and Luden's® sore throat treatments and drops, Compound W® wart treatments, Little Remedies® pediatric over-the-counter products, Boudreaux’s Butt Paste® diaper rash ointments, Nix® lice treatment, Debrox® earwax remover, Gaviscon® antacid in Canada, and Hydralyte® rehydration products and the Fess® line of nasal and sinus care products in Australia. Visit the Company's website at www.prestigeconsumerhealthcare.com.

Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” generally can be identified by the use of forward-looking terminology such as “expected,” “will,” and “intends” (or the negative or other derivatives of each of these terms) or similar terminology. The “forward-looking statements” include, without limitation, statements regarding the Company’s expectations regarding the completion of the sale of the notes and the redemption of the 2028 notes. These statements are based on management’s estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those expected as a result of a variety of factors, including general economic and business conditions. A discussion of other factors that could cause results to vary is included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2026 and other periodic reports filed with the Securities and Exchange Commission.

Investor Relations Contact
Phil Terpolilli, CFA, 914-524-6819
[email protected]

System supports lithium extraction, sample production, and operating-team training while Company prepares first 1,000 tpa commercial-scale plant

DALLAS--(BUSINESS WIRE)--LibertyStream Infrastructure Partners Inc. (TSXV: LIB | OTCQB: VLTLF | FSE: I2D) (“LibertyStream” or the “Company”) is pleased to announce that it has commissioned its fully automated Gen 6 extraction system at Freedom Launchpad, the Company’s training and customer-sample production platform at its first deployment site.

The process is not being changed for scale-up. The Company expects the commercial-scale design to use the same core process architecture, with larger carousels holding additional extraction modules to support increased throughput.

Share The Gen 6 system is operating as expected and is now supporting lithium extraction and lithium carbonate production at the site. The system is designed around a 5,000 barrel-per-day processing basis and advances LibertyStream’s repeatable template for critical mineral recovery from existing U.S. oil and gas water-handling infrastructure.

Freedom Launchpad is where LibertyStream is producing lithium carbonate, preparing customer samples, training operators, capturing process data, and refining the operating playbook. Freedom 1, located at the same site, is the Company’s first 1,000 tonne-per-annum commercial-scale plant, previously referred to as Facility 1.

“Commissioning the fully automated Gen 6 system is an important execution milestone,” said Alex Wylie, President & CEO of LibertyStream. “We have moved from field learning, manual operation, and customer sample production into an automated system that reflects the architecture we intend to scale. Our focus remains disciplined: produce, qualify, train, build, and deploy.”

Automated Platform, Field-Learned Process

The fully automated Gen 6 system incorporates programmable logic controls and real-time monitoring across key operating variables, including temperature, pressure, flow rates, pH, and conductivity.

The system uses automation to streamline operations, strengthen operating consistency, and capture process data as LibertyStream advances customer samples, product qualification, operating-team training, and Freedom 1 readiness.

This commissioning milestone builds on the Company’s prior Gen 6 field work, which incorporated 21 months of operations, more than 400,000 barrels of processed brine, and over 2,500 operating tests. The Gen 6 configuration also reduced cycle time to approximately 20 minutes, compared with approximately 60 minutes under the Gen 5 configuration.

Over the past several months, LibertyStream’s operations, engineering, and chemistry teams have operated and refined the Gen 6 process while training at Freedom Launchpad. That hands-on operating period was intentional. It allowed the team to develop process familiarity, troubleshoot in real time, and build operating knowledge across the extraction sequence.

The newly commissioned automated Gen 6 system transfers that field experience into a programmable operating platform. The process is not being changed for scale-up. The Company expects the commercial-scale design to use the same core process architecture, with larger carousels holding additional extraction modules to support increased throughput.

From Freedom Launchpad to Freedom 1

LibertyStream has already produced lithium carbonate at its first deployment site, delivered product for customer evaluation, and announced a long-term offtake milestone for 600 tonnes per year of planned lithium carbonate supply beginning in 2027.

The automated Gen 6 system is expected to support continued production, larger-format customer samples, product qualification, performance data capture, operating-team development, and Freedom 1 readiness.

Freedom 1 is being developed as the Company’s first commercial-scale installation under its agreement with Select Water Solutions. As previously disclosed, the Stage 1 facility is designed for 1,000 tonnes per annum of lithium carbonate production and is targeted for commissioning by the end of December 2026.

Visible Progress at Freedom 1

Site preparation for Freedom 1 is advancing.

The Company has cleared and leveled the installation area and is preparing for concrete work to support receipt of commercial-scale equipment expected in late Q3 and early Q4 2026.

This work is part of LibertyStream’s broader execution plan to move from Freedom Launchpad into a repeatable commercial template. The objective is not a single installation. The objective is a scalable model for recovering critical minerals from large water streams already moving through established U.S. energy infrastructure.

Lithium carbonate is LibertyStream’s first product focus. The broader platform is designed around technology-led critical mineral recovery from existing oil and gas water-handling infrastructure. The Company expects to provide further updates as the automated Gen 6 system continues operating and as performance data, customer sample activity, Freedom 1 preparation, and commercial-scale equipment deployment advance.

About LibertyStream Infrastructure Partners

LibertyStream is a lithium development and technology company aiming to be one of North America’s first commercial producers of lithium carbonate from oilfield brine. Our strategy is to generate value for shareholders by leveraging management’s hydrocarbon experience to deploy our proprietary DLE technology directly into existing oil and gas infrastructure, thereby reducing capital costs, lowering risks and supporting the world’s clean energy transition. We are committed to operating efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about the Company’s continued progress on its website: https://LibertyStream.com/.

Forward-Looking Information

This news release includes certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively referred to herein as “forward-looking information”). When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “will”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking information. Statements, other than statements of historical fact, may constitute forward-looking information and include, without limitation, the Company’s expectations with respect to finalizing the definitive Offtake Agreement and the consulting agreement and the timing thereof; the anticipated services to be provided in the consulting agreement and the issuance of restricted share units to the consultant; the anticipated benefits of the Offtake Agreement; the Company’s expectations with respect to Facility 1 and the integration of the Company’s platform with existing oilfield water infrastructure; the Company’s expectations with respect to all-in operating costs of a 1,000-tonne-per-annum facility; the Company’s planned commercial configuration for Facility 1; the expectation that Facility 1 will generate standalone positive operating cash flow; the ability of the results from pre-commercial operations to date to create meaningful shareholder value and the Company’s ability to secure long-term commercial contracts; and the benefits of the Company’s proprietary DLE technology including the anticipated reduction of capital costs associated with lithium carbonate extraction from oilfield brine by the use of existing oil and gas infrastructure and the support of clean energy transition efforts caused by the deploy of the Company’s proprietary DLE technology. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein including the risk that the timing of launching full-scale operations may be delayed or not occur at all; the risk that the Company is not able to secure appropriate partnerships, customers, and offtake agreements, including entering into the definitive Offtake Agreement based on the non-binding term sheet with the Offtake Partner, on terms acceptable to the Company or at all; the risk that the Company cannot achieve full commercial-scale operations on the timeline currently anticipated or at all; the risk that the Company’s anticipated all-in operating costs will be higher than expected; the risk that the assumptions of management in calculating the anticipated all-in operating costs are not complete or may change through the course of the Company’s ongoing business activities; the risk that management’s expectations and assumptions related to generating standalone positive cash flow are not complete or may change through the course of the Company’s ongoing business activities; the risk that the DLE technology cannot be scaled on a commercial basis as currently anticipated by the Company or at all; the risk that the anticipated near-term strategy may not be executed as currently anticipated; and, generally, those known risk factors outlined in the Company’s Management’s Discussion and Analysis for the year ended December 31, 2025, the Company’s Management’s Discussion and Analysis for the three months ended March 31, 2026 and the Company’s annual information form for the year ended December 31, 2024. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

More News From LibertyStream Infrastructure Partners Inc.

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SummaryVictory Capital Holdings is rated 'Buy', driven by strong earnings, robust AUM growth, and successful integration of acquisitions like Pioneer.VCTR's strategy leverages M&A and ETF product expansion, supporting revenue, EBITDA, and EPS growth above sector and historical averages.1Q26 results exceeded expectations: revenue +77% yoy, adjusted EBITDA +75% yoy, and stable fee rates amid industry-wide compression.Healthy leverage, consistent dividends, and active share repurchases provide downside support while valuation remains below recent peaks.Marcio Silva/iStock Editorial via Getty Images

Summary Victory Capital Holdings' (VCTR) stock is +37% YTD, driven by stronger-than-expected earnings from a growing ETF segment in addition to higher AUM and earnings from recent acquisitions such as Pioneer. VCTR has a clear strategy to

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

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

Redwire (RDW 5.51%) stock got crushed in last month's trading, falling 50.2% across the stretch. Over the same period, the S&P 500 and the Nasdaq Composite fell 1.1% and 2.8%,respectively.

Redwire stock saw huge sell-offs last month after the company announced a major new fundraising move. Its valuation rapidly moved lower amid valuation trends for space stocks connected to the initial public offering (IPO) of Space Exploration Technologies. Defense stocks also generally saw weak trading last month.

Image source: Getty Images.

June was a brutal month for Redwire shareholders On June 9, Redwire published a press release announcing a new at-the-market stock sale program that will allow the company to raise up to $500 million through sales of its common stock. The fundraising move will have a significant dilutive impact for shareholders. With newly created shares entering the market, each existing share comes to represent a smaller piece of the overall whole. The upside is that it will provide the company with substantial operating capital, but investors may have viewed it as a sign that the company viewed its stock as richly valued in addition to dilution-related concerns.

SpaceX's IPO also had a substantial negative impact on Redwire stock. Space stocks have generally been hot over the last year, and the months leading up to SpaceX's IPO on June 12 saw many players in the industry post huge valuation gains -- but that trend reversed last month. While some investors may have been worried that SpaceX finally hitting the market would take some of the hype and excitement away from stocks in the category, others sold positions in other space stocks in order to fund their positions in SpaceX after it went public.

Today's Change

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While the stock got crushed in June, there was actually some good news from the company. On June 4, the company announced that it had won a contract with biotech specialist Astrobiome Space to grow strawberries on the International Space Station and test Astriobiome's soil enhancement product. On June 30, the company announced that it had won a contract with Taiwan Color Optics to provide its Penguin Mk2.5 vertical-take-off-and-landing (VTOL) craft to the Taiwanese Coast Guard.

Here's why Redwire is still falling in July Coming on the heels of last month's precipitous valuation decline, Redwire stock has continued to fall in July. As of this writing, the stock is down roughly 7.5% in the month's trading.

While there hasn't been any fresh bad news for the company, some space-tech stocks have continued to lose ground. With the S&P 500 down roughly 0.2% in the month so far and the Nasdaq Composite down roughly 1.5%, there's also been some broader movement out of speculative growth stocks. Redwire's big sell-offs don't mean that the stock won't be able to recover, but investors clearly aren't thrilled with the at-the-market stock program and the company's perceived near-term return potential compared to other space stocks.

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Combination expands Ondas' portfolio across multi-domain ISR, counter-UAS, precision strike, mission intelligence and autonomous systems for U.S. and allied defense customers

Together with World View, DZYNE will operate within Ondas Sentinel, a newly created business division that will strengthen Ondas' U.S. defense portfolio

Transaction significantly strengthens Ondas' financial profile, adding substantial revenue, positive EBITDA and expanded operating leverage

WEST PALM BEACH, FL / ACCESS Newswire / July 6, 2026 / Ondas Inc. (NASDAQ:ONDS) ("Ondas" or the "Company"), a leading provider of advanced autonomous systems and next-generation defense and security technologies and services, announced today it has acquired DZYNE Technologies, LLC ("DZYNE"). This acquisition establishes Ondas as a vanguard autonomous defense platform, uniting complementary capabilities across multi-domain ISR, counter-UAS, autonomous effects, aerial security, precision strike, autonomous logistics, and AI-enabled mission orchestration to rapidly meet the complex, evolving requirements of modern warfare. The acquisition is valued at $875.8 million and was financed through a cash and stock structure intended to align the incentives of DZYNE management and investors with Ondas' stockholders. Greater than 50% of the stock consideration is subject to a six-month lock-up.

"The character of warfare is changing rapidly, and military advantage increasingly belongs to organizations capable of deploying autonomous systems at scale," said Eric Brock, Chairman and Chief Executive Officer of Ondas. "DZYNE brings exceptional technology, world-class engineering talent and mission-ready systems across long-endurance ISR, counter-UAS and autonomous effects. The combination with DZYNE accelerates Ondas' build-out of the next-generation autonomous defense platform-not through a single breakthrough product, but by integrating complementary, mission-proven technologies into a scaled operating platform. Importantly, DZYNE significantly strengthens Ondas' financial profile, adding substantial scale and revenue growth. DZYNE is EBITDA positive with a strong and growing margin profile, accelerating Ondas' path towards profitable, long-term growth."

DZYNE, a U.S.-based defense technology company recognized for its leadership in long-endurance autonomous aircraft, counter-drone systems and autonomous effects, brings Ondas an operationally mature business with established relationships across the U.S. defense community and allied customers, along with a reputation for moving quickly from prototyping into fielded systems. Ondas believes this combination of technical depth, mission experience, customer trust and operational execution makes DZYNE a uniquely valuable strategic asset as defense organizations accelerate investment in autonomous systems.

"We structured this transaction to take the majority of our consideration in Ondas equity because we believe in the long-term value of the combined platform," said Jeff Hull, President and Chief Executive Officer of Highlander Partners, the majority owner of DZYNE. "As a firm that invests our own proprietary capital with a patient, long-term horizon, our equity position reflects genuine conviction - not just in DZYNE's capabilities, but in Ondas' vision to build a scaled global operating platform for unmanned and autonomous systems serving the defense, security, and critical infrastructure markets. DZYNE's ISR, counter-UAS, and expendable systems are a natural extension of that architecture, and we believe DZYNE's technology and team will thrive inside Ondas as part of its broader system-of-systems strategy - together positioned to be a leader in autonomous defense."

"This acquisition exemplifies our Strategic Growth Program by adding an operationally mature defense technology company with market-leading products, deep customer relationships and immediate financial scale," said Mark Green, Head of Global Corporate Development & M&A at Ondas. " Integrating DZYNE into our systems-of-systems architecture expands our technology leadership while strengthening our operating platform and financial profile."

Ondas Sentinel: A New Operating Division for U.S. Scale

Ondas has formed Ondas Sentinel, a dedicated operating division unifying its growing U.S. portfolio of autonomous defense technologies. Initially intended to integrate World View and DZYNE, it combines persistent ISR, counter-UAS, autonomous effects and mission intelligence into a scalable organization built to support larger, more integrated defense programs while leveraging common technology roadmaps, manufacturing, sustainment and AI-enabled mission software.

Ryan Hartman, Chief Executive Officer of World View, will serve as Chief Executive Officer of Ondas Sentinel, while Matt McCue, co-founder and Chief Executive Officer of DZYNE, will become Chief Technology Officer of Ondas Sentinel. Together, they will lead the integration of the businesses and accelerate Ondas' strategy to deliver integrated autonomous defense solutions at scale.

"Ondas Sentinel creates far more than an organizational structure-it's a scalable U.S. defense platform," said Ryan Hartman, Chief Executive Officer of Ondas Sentinel. "By combining World View's persistent sensing with DZYNE's mission-proven autonomous systems, effectors, and counter-UAS capabilities, we can engage customers across more mission areas, pursue larger programs and help operators see more, decide faster and act with confidence."

Compelling Strategic Fit Accelerates Combined Growth Path

DZYNE adds three strategic franchises to the Ondas platform: long-endurance ISR, counter-UAS and autonomous effects. These capabilities have been supported by over $500 million of cumulative R&D and product development investment and directly address several of the fastest-growing priorities in defense modernization, including persistent intelligence, aerial security, affordable mass and distributed operations.

1) Building a Multi-Domain ISR Architecture from the Stratosphere to the Tactical Edge

The acquisition of DZYNE significantly advances Ondas' multi-domain ISR roadmap, reflecting the Company's belief that the future of ISR lies in integrated architectures, not isolated aircraft or sensors.

DZYNE's ULTRA is a long-endurance autonomous aircraft delivering multi-day ISR across large operational areas at significantly lower operating cost and logistical burden than traditional ISR aircraft. With tens of thousands of operational flight hours, ULTRA brings proven persistence to distributed operations, border security, maritime awareness and communications relay-strengthening Ondas' position in persistent intelligence and bridging World View's stratospheric sensing with Optimus' tactical-edge autonomous operations.

The combined Ondas ISR portfolio is expected to span:

Stratospheric ISR: World View's Stratollites provide persistent sensing, communications relay and strategic intelligence capabilities from the stratosphere, supporting wide-area surveillance, maritime awareness, border security and resilient communications.

Long-Endurance Theater ISR: DZYNE's ULTRA and LEAP platforms provide long-endurance intelligence collection, reconnaissance and communications relay capabilities for operational theater missions requiring persistence over extended periods.

Tactical ISR: Ondas' Optimus autonomous drone platform and InsightSense ground sensor technologies provide persistent intelligence and situational awareness at the tactical edge, combining autonomous aerial reconnaissance, distributed ground sensing, force protection and infrastructure monitoring into a unified tactical intelligence layer.

Ondas is also advancing SkyWeaver, an AI-enabled mission operating system being developed in partnership with Palantir Technologies to connect sensors, autonomous platforms, operators and decision-makers across a single operational environment. Built on Palantir Foundry and AIP, SkyWeaver transforms data across the Ondas and DZYNE portfolios into actionable intelligence for sensor fusion, decision support, mission planning and autonomous tasking.

2) IonStrike Completes Ondas' Counter-UAS and Aerial Security Portfolio

DZYNE's IonStrike significantly expands Ondas' counter-UAS portfolio with a fully kinetic, autonomous interceptor designed to detect, track and physically defeat hostile drones in flight. Purpose-built to counter the Shahed-136 class of one-way attack drones and other emerging aerial threats, IonStrike delivers scalable, low-cost interception at the point of engagement, providing an affordable alternative to traditional air defense systems.

IonStrike extends Ondas' aerial security platform beyond detection and mitigation to complete the kinetic defeat layer of an integrated counter-UAS architecture, enabling Ondas to own the full mission chain-from detection and identification to mitigation, interception and defeat-across military, homeland security and civil markets. Together with DZYNE's Dronebuster, which we believe to be one of the most widely fielded handheld counter-UAS systems in the world, Sentrycs' cyber-based detection and mitigation, and Iron Drone's autonomous interception, IonStrike forms a layered aerial security architecture against evolving unmanned threats:

Detect: Sentrycs, Dronebuster and integrated airspace awareness technologies

Identify: Sentrycs protocol analytics, sensor fusion and AI-enabled classification

Mitigate: Sentrycs cyber takeover capabilities and Dronebuster electronic defeat capabilities

Defeat: Iron Drone autonomous net interception and IonStrike autonomous strike

3) Expanding Capabilities in Precision Strike and Autonomous Effects

DZYNE's family of unique, low-cost, attritable autonomous systems enables Ondas to support a broader spectrum of missions spanning intelligence, force protection, logistics, and precision effects. As militaries shift toward "affordable mass," launched effects have been one of the fastest-growing segments of global defense spending, giving commanders scalable, expendable systems at a fraction of the cost of traditional platforms.

DZYNE's portfolio includes the Blitz autonomous Group 1 UAS and Grasshopper autonomous cargo glider. Blitz pairs long-range autonomy, (150 km range), expendable economics, swarm capabilities and an open, modular architecture into a highly scalable platform aligned with the U.S. Department of War's (DOW) focus on affordable mass and autonomous effects. Grasshopper delivers up to 500 pounds of critical supplies with precision into contested or denied environments, at a fraction of the cost of traditional logistics platforms.

Financial Profile and Updated Outlook

DZYNE is expected to generate $191 million in revenue for the full year 2026, and more than $300 million in 2027. The Company expects a revenue growth CAGR of greater than 80% from 2025-2028 driven by strong adoption of both the ULTRA platform for long-endurance ISR applications and the kinetic interceptor solution, IonStrike, along with a strong contribution from the counter-drone portfolio, including Dronebuster. DZYNE is expected to be EBITDA positive in 2026 and beyond. EBITDA margins are targeted in the mid-teens in 2027, rising to the mid-20% range by 2028.

For 2026 Ondas is now targeting at least $525 million in revenue, significantly ahead of the Company's previous target of at least $390 million. The new outlook includes the addition of both DZYNE and the Company's Omnisys acquisition, which closed on May 21, 2026, and was not contemplated in the prior outlook. Ondas' new outlook does not include contributions from Cyberhawk, Ondas' recently announced acquisition that is expected to close during the third quarter of 2026.

Transaction Summary

Under the terms of the transaction, DZYNE shareholders received $200 million in cash and approximately 85 million Ondas shares valued at approximately $675 million. The DZYNE shareholders, led by Highlander, will own approximately 13.8% of Ondas' outstanding shares. Of the 85 million shares, 45 million-more than half the equity consideration-are subject to a six-month lock-up. Ondas believes this structure balances liquidity needs for DZYNE shareholders and long-term alignment with Ondas' stockholders.

For additional information regarding the acquisition, please see the Current Report on Form 8-K to be filed with the Securities and Exchange Commission later today. In connection with the acquisition, the Company approved inducement grants of restricted stock units (RSUs) representing 500,000 shares of the Company's common stock and stock options exercisable for 1,500,000 shares of the Company's common stock with an exercise price of $7.92 per share to a total of 255 newly-hired employees in connection with the acquisition. The equity awards were granted pursuant to the Nasdaq Rule 5635(c)(4) inducement grant exception as a component of each individual's employment compensation and were granted as an inducement material to his or her acceptance of employment with the Company. The RSUs and the stock options vest over 3 years, subject to the applicable employee's continued employment with the Company.

Advisors

Citizens Capital Markets & Advisory served as exclusive financial advisor to Ondas and Baird served as exclusive financial advisor to DZYNE Technologies. Akerman LLP served as legal counsel to Ondas and Baker McKenzie served as legal counsel to Highlander Partners and DZYNE Technologies.

Investor Conference Call & Audio Webcast Details

Ondas will host an investor conference call and audio webcast to discuss the acquisition, the formation of Ondas Sentinel, and the strategic importance of the transaction to the Company's long-term autonomous defense strategy.

Date: Monday, July 6, 2026
Time: 8:30 a.m. Eastern Time
Toll-free dial-in number: 844-883-3907
International dial-in number: 412-317-5798
Call participant pre-registration link: here

The Company encourages listeners to pre-register, which allows callers to gain immediate access and bypass the live operator. Please note that you can register at any time during the call. For those who choose not to pre-register, please call the conference telephone number 10-15 minutes prior to the start time, at which time an operator will register your name and organization.

The conference call will also be broadcast live and available for replay here and via the investor relations section of the Company's website at ir.ondas.com. A replay will be accessible from the investor relations website after completion of the event.

About Ondas Inc.

Ondas Inc. (NASDAQ:ONDS) is a leading provider of autonomous systems, robotics, and mission-critical technologies for defense, homeland security, public safety, critical infrastructure, and industrial markets. The Company develops and deploys integrated unmanned and autonomous platforms across air, ground, and stratospheric environments, designed to support intelligence, surveillance, reconnaissance, security, and operational missions in complex environments. Ondas' solutions are deployed globally by government, defense, and commercial customers to protect infrastructure, borders, transportation networks, personnel, and strategic assets.

For additional information on Ondas Inc., visit www.ondas.com.

About DZYNE Technologies, LLC

DZYNE Technologies is a leading developer of autonomous aerial systems and advanced defense technologies, delivering innovative solutions across intelligence, surveillance, reconnaissance, and counter‑UAS missions. The company designs and manufactures a full ecosystem of unmanned platforms and payloads-including long‑endurance Group 2/3 aircraft, rapid‑deployment Group 1 systems, and field‑proven counter‑drone tools-built to operate in contested and denied environments. With deep expertise in AI‑enabled autonomy, modular airframe design, and rapid prototyping, DZYNE supports U.S. and allied defense customers with scalable, mission‑ready capabilities that accelerate decision advantage at the tactical edge.

Forward-Looking Statements

Statements made in this release that are not statements of historical or current facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including the risks discussed under the heading "Risk Factors" discussed under the caption "Item 1A. Risk Factors" in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption "Item 1A. Risk Factors" in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law.

Contacts
IR Contact for Ondas Inc.
888-657-2377
[email protected]

Media Contact for Ondas Inc.
Escalate PR
[email protected]

Preston Grimes
Marketing Manager, Ondas Inc
[email protected]

Jill Vacek
Director of Communications, Ondas Sentinel
[email protected]

SOURCE: Ondas Inc.