Expectations are high that when banks start posting second-quarter results Tuesday, led by JPMorgan Chase and Bank of America, revenue from trading equities and fixed income will approach, or even exceed, the records set earlier this year.
That's a key part of what veteran analyst Mike Mayo of Wells Fargo calls the "sweet spot" in the financial sector right now. Both of banking's profit engines — Wall Street and Main Street — are in growth mode at the same time.
The largest U.S. banks are raking in rising fees from helping corporations tap the markets, punctuated by last month's giant SpaceX IPO, while risk-taking traders are also thriving as geopolitical unrest including the Iran war stokes volatility across asset classes.
"You saw the largest IPO in history, a pace of mergers that's on track to be a record year, and a broadening out of trading to include equity and fixed income across myriad geographies," Mayo told CNBC.
The quarter's big bank earnings come at an unusually favorable moment for the industry. After years of navigating higher interest rates and inflation-fueled recession fears, lenders are benefiting from a rare combination of booming Wall Street activity, resilient consumer credit and a long-awaited pickup in business lending.
"There's not much more you can ask for," Mayo said.
The trends, which coincide with the Trump administration's push to ease banking regulations, have helped financial stocks outperform the broader market for two straight years, Mayo noted. That streak also raises the stakes as investors look for signs the momentum can continue into 2027.
JPMorgan, Bank of America, Citigroup, Wells Fargo and Goldman Sachs are set to post results early Tuesday, with Morgan Stanley reporting Wednesday.
'Big money maker'Investment banking revenue for the group could surge 26% from a year ago, while trading revenue could jump 14%, according to KBW analyst Chris McGratty.
Besides the hundreds of millions of dollars in fees that SpaceX paid banks — led by Goldman Sachs and Morgan Stanley — for the IPO itself, the firms garnered fees for raising debt for the newly public company, and also have a shot at managing the wealth of newly minted millionaires and billionaires.
On top of that, Goldman and Morgan Stanley likely reaped so-called soft dollars from the SpaceX initial public offering, according to Jay Ritter, professor emeritus of finance at the University of Florida's Warrington College of Business.
Soft dollars are essentially fees that hedge funds pay investment banks for a slice of an oversubscribed IPO, Ritter said.
"The big money maker for investment banks in IPOs is not the bankers' fee, but the ability to allocate shares to hedge funds and some active mutual funds that pay soft dollars," he said.
Meanwhile, trading gains were driven by strength in equities as stock markets climbed during the quarter, as well as heightened activity in fixed income after the Iran conflict sent oil prices, interest rates and currencies swinging, McGratty said.
"Banks are doing a good job these days of capturing the upside of volatility, whereas in previous cycles, they've been caught offsides," McGratty said.
'Demand is back'But Mayo contended that the more important development this quarter might be happening away from Wall Street.
The less glamorous business of commercial lending could be turning the corner after years of weakness as banks look to wrest market share from private credit lenders and as the artificial intelligence-fueled spending boom spreads to the rest of the economy, he said.
"Demand is back as companies treat the uncertainty as the new normal and build that new factory, invest in plants and get on with business," Mayo said.
The trend could benefit regional lenders including Fifth Third because commercial lending represents a larger share of their business than it does for diversified giants like JPMorgan, Mayo said.
Consumer banking also appears healthy. Low unemployment has kept borrowers current on mortgages, auto loans and credit cards, limiting losses.
There are still some risks for the quarter, including potential blowups in the private credit realm, even though that concern has subsided for most banks in the absence of new "cockroaches" emerging. JPMorgan CEO Jamie Dimon warned analysts and investors last year after the collapse of subprime car lender Tricolor Holdings that "when you see one cockroach, there are probably more."
Another is whether competition over deposits is intensifying, as some players have been forced to pay higher rates to attract and keep savers' dollars, McGratty said. In an environment where interest rates are steady or rising, that could pressure lender margins.
After two years of market-beating returns, investors are becoming less interested in how strong the last quarter was than whether this unusually favorable backdrop can last.
"We know the quarter's going to be strong, so I think the question that you ask yourself is around sustainability, right?" McGratty said. "Is it all sustainable?"
Key Takeaways MS' Q2 revenues are projected to rise 15.4%, while earnings are expected to jump 35.7%.Strong advisory and underwriting fees are expected to drive a 40% increase in MS' IB income.Higher client activity and volatility may lift MS' equity and fixed-income trading revenues. Morgan Stanley (MS - Free Report) is scheduled to announce second-quarter 2026 earnings on July 15 before market open. The company’s financial results and subsequent management conference call are expected to attract significant attention from analysts and investors seeking insights into how it is navigating the current operating environment.
Morgan Stanley’s first-quarter 2026 performance was impressive, driven by robust trading and deal-making activities. The company’s results in the to-be-reported quarter are likely to have benefited from similar positive factors. The Zacks Consensus Estimate for second-quarter revenues of $19.38 billion suggests 15.4% year-over-year growth.
In the past seven days, the consensus estimate for earnings for the to-be-reported quarter has been revised 4% upward to $2.89. The figure indicates a 35.7% jump from the prior-year quarter.
Estimate Revision Trend
Image Source: Zacks Investment Research
MS has an impressive earnings surprise history. The company’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, with the average beat being 17.07%.
Earnings Surprise History
Image Source: Zacks Investment Research
Factors to Influence Morgan Stanley’s Q2 ResultsIB Income: After an impressive first-quarter performance, global deal-making activity moderated as geopolitical uncertainty, persistent valuation gaps, slowing economic growth, elevated inflation and interest rates, and a stubbornly high backlog of private equity exits weighed on transaction value. However, strategic buyers remained active, targeting deals that could expand scale, bolster resilience and strengthen supply chain security amid the challenging operating environment.
So, while global mergers and acquisitions (M&As) volume improved year over year, deal value fell as only a handful of big transactions dominated the space. This, along with Morgan Stanley’s position as one of the leading players in the space, is expected to have driven advisory fees in the second quarter. The Zacks Consensus Estimate for advisory fees is pegged at $684.6 million, indicating a year-over-year jump of 34.8%.
The quarter witnessed strong IPO activity and equity issuances. Morgan Stanley’s prominent underwriting role in SpaceX’s mega IPO is likely to have boosted its equity underwriting fees. Further, global bond issuance volume was solid, driven by corporate refinancing and infrastructure builds. So, Morgan Stanley’s equity and fixed income underwriting fees are expected to have increased on a year-over-year basis.
The Zacks Consensus Estimate for equity underwriting fees of $554.4 million suggests year-over-year growth of 10.9%. The consensus estimate for fixed-income underwriting fees is pegged at $704.9 million, indicating a surge of 32.5%. The consensus estimate for total underwriting fees of $1.26 billion implies a jump of 22%.
The Zacks Consensus Estimate for IB income of $2.3 billion indicates a year-over-year jump of 40%.
Trading Revenues: The performance of Morgan Stanley’s trading business (constituting a significant portion of its top line) is expected to have been solid in the second quarter of 2026, supported by increased client activity and market volatility. Trading conditions were shaped by evolving expectations surrounding artificial intelligence, ongoing geopolitical tensions, persistent inflationary pressures and a more hawkish Federal Reserve. These factors contributed to heightened volatility across equities and other asset classes, including commodities, fixed income and foreign exchange.
The Zacks Consensus Estimate for the company’s equity trading revenues is pegged at $4.42 billion, suggesting a rise of 18.7% from the prior-year quarter. The consensus estimate for fixed-income trading revenues of $2.31 billion indicates a gain of 6%.
Net Interest Income (NII): In the to-be-reported quarter, the Fed kept interest rates unchanged, while signaling a hike later in the year because of persistently high inflation. This created a favorable backdrop for Morgan Stanley.
Further, the lending scenario is likely to have improved in the second quarter, which, along with stabilizing funding/deposit costs, is expected to have offered much-needed support. Hence, Morgan Stanley’s NII is likely to have witnessed a decent improvement in the quarter.
The Zacks Consensus Estimate for net interest revenues is pegged at $2.62 billion, suggesting a rise of 11.5% on a year-over-year basis.
For the wealth management segment, management expects NII to rise modestly on a sequential basis.
Expenses: Cost reduction, which has long been Morgan Stanley's primary strategy for remaining profitable, is unlikely to have provided much support in the June-ended quarter. As the company has been investing in franchises, overall costs are likely to have been elevated.
What Our Quantitative Model Unveils for MSMorgan Stanley’s Price PerformanceIn the second quarter, Morgan Stanley’s share performance was impressive as the operating backdrop turned favorable. The stock fared better than the industry as well as its peers, Goldman Sachs (GS - Free Report) and JPMorgan (JPM - Free Report) .
2Q26 Price Performance
Image Source: Zacks Investment Research
Goldman and JPMorgan are scheduled to announce second-quarter 2026 numbers tomorrow.
Over the past seven days, the Zacks Consensus Estimate for Goldman’s second-quarter 2026 earnings has been revised north to $14.47. The consensus estimate for JPMorgan’s second quarter 2026 earnings has been revised upward to $5.59 over the past week. At present, both GS and JPM carry a Zacks Rank #2 (Buy).
Broadcom (NASDAQ: AVGO | AVGO Price Prediction) and NVIDIA (NASDAQ: NVDA) both just posted blowout quarters, but the story underneath the numbers is diverging fast. Broadcom is riding a custom-silicon wave for hyperscalers. NVIDIA is still the merchant GPU king, yet faces a mid-summer lull before its late-August report.
ASICs Carry Broadcom. Blackwell Carries NVIDIA. Broadcom’s Q2 FY2026 revenue hit $22.187 billion, up 47.9%, with AI semiconductor sales of $10.80 billion growing 143%. CEO Hock Tan said the mix is being “driven by increasing demand for custom AI accelerators and AI networking.” That is the tell. Broadcom builds XPUs for a handful of hyperscalers and pairs them with Ethernet switches, capturing inference workloads where cost-per-token beats brute force.
NVIDIA’s Q1 FY2027 revenue reached $81.615 billion, up 85.23%, with Data Center at $75.246 billion and networking alone up 199%. Jensen Huang framed the moment as “the largest infrastructure expansion in human history.” Bigger dollars, slightly slower AI segment growth.
Business Driver Broadcom NVIDIA AI Growth Engine Custom ASICs + Ethernet Blackwell GPUs + NVLink AI YoY Growth 143% Data Center 92% Next-Quarter AI Guide $16.0B, over 200% YoY Total rev $91B Custom Silicon vs. The Universal Platform Broadcom is compounding a narrow, high-margin ASIC business with an adjusted EBITDA margin of 69%. The reported $30B+ Apple custom AI chip deal through 2031 reinforces that pattern. NVIDIA leans on scale and CUDA gravity, but assumes zero China Data Center compute revenue in Q2 guidance, a headwind Broadcom does not carry to the same degree.
Valuation frames the risk. NVIDIA trades near a 30 P/E, cheaper than Broadcom’s 65. Yet AVGO has climbed 11.28% over the past week while NVDA slipped 9.52% from June 1.
The Next Catalyst Window Favors Broadcom NVIDIA does not report again until August 26, 2026, leaving 47 days without fresh fundamentals. Broadcom’s Q3 earnings report lands September 8, and management has already telegraphed $16.0 billion in AI revenue, roughly 54% of total sales. I will watch whether hyperscaler order patterns actually validate Tan’s 44% custom-silicon compounding thesis.
Analyst consensus targets tell the same story: $523.73 for AVGO against $301.62 for NVDA, with 44 buys and zero sells on Broadcom.
Why I Lean Toward Broadcom Through Year-End For my own read, Broadcom looks like the better setup for the back half of 2026. The catalyst calendar is nearer, AI mix is accelerating faster off a smaller base, and the Apple relationship gives the ASIC thesis a marquee anchor. If you want the safer, deeper platform, NVIDIA still owns the training market and prints staggering cash. But if you want the faster incremental move between now and December, I would rather ride the custom silicon curve. I would change my view if hyperscaler capex softens or if Blackwell 300 supply constraints ease dramatically before August.
Silver often plays second fiddle to gold in people's portfolios, but the two work very differently. Like gold, silver acts as a store of value, but it also has many industrial uses, including in solar panels and artificial intelligence (AI) chips. I have a personal interest in silver prices, because when I'm not writing about finance, I'm a hobbyist silversmith, making this precious metal both an investment and a resource for me.
Silver gained almost 150% in 2025, boosted by a mixture of industrial and investor demand. Its price continued to rise in 2026, soaring to a high of $121.64 per troy ounce on Jan. 29 before plummeting by around 27% the following day amid fears that then-Federal Reserve Chair nominee Kevin Warsh would adopt a more hawkish stance.
Image source: Getty Images.
Now that Warsh has taken up his post and silver is trading around $60 a troy ounce, I think the precious metal could be close to bottoming out.
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Two forces are buffeting silver: fears of Fed tightening and a stronger dollar weigh it down, while industrial demand and a multiyear supply deficit pull it up. I predict that prices will rise slightly in the second half of this year and generate further gains in the long term. Spoiler alert? Industrial demand will soon start to outweigh macroeconomic factors.
Inflation, the dollar, and rate increases Investors often turn to silver and gold to protect wealth when their base currency, such as the U.S. dollar, looks weak. That safe-haven demand was one of the drivers behind last year's surge, along with speculation, growing industrial use cases, and expectations that the Fed would cut interest rates in 2026. Today, the picture is very different, which is why silver is struggling.
When interest rates are high, precious metals, which don't generate yields, become less attractive, because investors have a number of relatively safe ways to earn interest on their holdings. That's weighed on silver's price this year as the Fed looks for ways to bring stubborn inflation under control and the hoped-for rate cuts look increasingly unlikely.
Silver's crucial industrial use Silver's high electrical and thermal conductivity make it extremely useful in the production of chips, semiconductors, solar panels, electric vehicles, nuclear reactors, and more. Around 60% of silver is used for industrial purposes, and it plays an essential role in several booming industries. It isn't easy to increase silver production, because the metal is usually produced as a byproduct from mining other metals, particularly copper, rather than being extracted in its own right. As a result, this will be the sixth year of a silver supply deficit -- something that looks likely to continue.
Strong demand and limited supply bode well for silver prices, but if prices get too high, manufacturers will seek alternatives -- which is already happening in the solar panel industry, where producers have cut silver consumption by about 19% this year. Indeed, one solar maker has just said it will switch to copper completely. However, even as solar manufacturers reduce their silver needs, other sectors, such as AI data centers, consume more, creating a greater industrial appetite for silver.
Is it a good time to buy silver? Silver prices are down around 50% from their January high and close to an 11-month low, which could make now a good entry point for investors. If you're considering adding silver to your portfolio, be prepared to hold it for at least five years and know that it could be volatile. Analysts at J.P. Morgan predict that silver will finish 2026 around $80, which feels reasonable -- the frenzy that drove silver upwards has faded, and much of the fears around Fed tightening are now priced in. I don't expect another massive gain, but if industrial demand remains solid, silver could trend upward.
There are a few ways to get exposure to silver, including top silver stocks and silver ETFs. I like the iShares Silver Trust (SLV 2.33%) because it focuses on physical silver, but if you're looking for a mining stock, consider First Majestic Silver (AG 1.22%), as its mines in Mexico mean silver is more than just a byproduct for the company.
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I will be buying both physical silver and silver ETFs in the coming months to diversify with a commodity that also has practical value. I'm not making dramatic moves, and silver will only make up a small percentage of my portfolio, but with U.S. equities close to record highs, I want to rebalance, and silver checks a lot of boxes. And, from a jewelry-making perspective, I want to stock up in case prices spike again.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
Considering buying FAST stock? Here’s what analysts think:
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Prologis, Inc. (NYSE:PLD) will release its second quarter earnings report before the opening bell on Thursday, July 16.
Analysts expect the San Francisco, California-based company to report quarterly earnings of 79 cents per share, up from 60 cents per share in the year-ago period. The consensus estimate for Prologis’ quarterly revenue is $2.16 billion. It reported $2.03 billion last year, according to Benzinga Pro.
On July 1, Prologis named Alfred F. Kelly, Jr. to its board of directors.
Shares of Prologis fell 0.4% to close at $140.87 on Friday.
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 PLD stock? Here’s what analysts think:
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- Expands PENN's Canadian online gaming footprint, bringing premier sportsbook and online casino experiences to players across Alberta -
TORONTO & WYOMISSING, Pa.--(BUSINESS WIRE)--PENN Entertainment (Nasdaq: PENN) (“PENN” or the “Company”) today announced the launch of theScore Bet Sportsbook & Casino in Alberta, as well as theScore Casino and Hollywood Casino standalone apps, further expanding the Company’s Canadian online gaming footprint and bringing its leading digital gaming brands to players across the province. These apps are now available across Alberta on iOS, Android, and are also available on the web.
The Alberta launch marks the next chapter in theScore Bet’s continued growth in Canada, building on its success in Ontario. Players in Alberta can now enjoy the uniquely integrated sports media and betting experience from two of Canada’s most trusted brands, theScore and theScore Bet, bringing live scores, news, stats and betting together in one connected ecosystem.
In addition to sports betting, theScore Bet Sportsbook & Casino gives Alberta players access to a comprehensive online casino experience featuring hundreds of slots, table games, live dealer experiences and exclusive games, including Blue Jays Blackjack.
Complementing theScore Bet Sportsbook & Casino experience, PENN is also launching standalone Hollywood Casino and theScore Casino apps in Alberta. Hollywood Casino, a popular online and retail casino brand, delivers a casino-first experience featuring an extensive portfolio of slots, table games and live dealer content. For players who prefer a dedicated casino app, theScore Casino offers the same premium gaming experience, providing additional choice alongside the all-in-one theScore Bet Sportsbook & Casino app.
“Alberta has an incredible sports culture, and we’re excited to bring theScore Bet Sportsbook & Casino to players across the province,” said Aaron LaBerge, Chief Technology Officer and Head of Interactive at PENN Entertainment. “Fans already know and trust theScore, and with theScore Bet, we’re extending that connection into a seamless sportsbook and casino experience. Whether you’re following your favorite team, placing a bet, or enjoying casino games, we’ve built the experience around the way fans naturally engage with sports. We commend the Alberta government for introducing a regulated online gaming market for private operators and look forward to serving fans in one of Canada’s great sports markets.”
As Canada’s sportsbook, theScore Bet is proud to partner with Canada’s most iconic sports organizations as the exclusive official gaming partner of the Toronto Blue Jays, the exclusive gaming partner of Golf Canada and an official gaming partner of the NHL and PGA Tour.
Alberta customers can now enjoy:
Same Game Parlays, player props and live, in-game betting. Seamless betting integration with theScore's trusted sports news, scores and data. Hollywood Casino's extensive portfolio of slots, table games and live dealer experiences, including Blue Jays Blackjack, the Dancing Drums series, and Sweet Bonanza series. To celebrate the launch, theScore Bet is introducing a series of fan experiences throughout the summer, including its popular Toronto Blue Jays Jersey Swap event. Additional details are available at theScore.bet/alberta.
About theScore Bet Sportsbook, theScore Casino & Hollywood Casino
theScore Bet Sportsbook & Casino, theScore Casino and Hollywood Casino are PENN Entertainment's leading online gaming brands in Canada, offering premium sports betting and online casino experiences powered by PENN's proprietary technology platform. theScore Bet Sportsbook & Casino uniquely integrates with theScore to deliver a connected sports media and betting experience, while Hollywood Casino and theScore Casino provide players with a comprehensive portfolio of slots, table games, live dealer experiences and exclusive content.
About PENN Entertainment, Inc.
PENN Entertainment, Inc., together with its subsidiaries (“PENN,” or the “Company,” “we,” “our,” or “us”), operates in 28 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks, and online sports betting and iCasino offerings. PENN’s focus is on organic cross-sell opportunities, reinforced by its market-leading retail casinos, sports media assets and technology, including a proprietary state-of-the-art, fully integrated digital sports betting and iCasino platform, and an in-house iCasino content studio. The Company’s portfolio is further bolstered by its industry-leading PENN Play™ customer loyalty program, offering its approximately 34 million members a unique set of rewards and experiences.
Forward Looking Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” “look forward to,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in PENN Entertainment’s filings with the Securities and Exchange Commission (the “SEC”), including PENN Entertainment's current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K for the year ended December 31, 2025. Forward-looking statements speak only as of the date they are made and, except for PENN Entertainment’s ongoing obligations under the U.S. federal securities laws, PENN Entertainment undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
PENN Entertainment stock is showing upward bias. What should traders watch with PENN? The LaunchPENN Entertainment is also launching standalone Hollywood Casino and theScore Casino apps in the province. Hollywood Casino delivers a casino-first experience with an extensive portfolio of slots, table games, and live dealer content, while theScore Casino offers a dedicated casino app alternative to the all-in-one theScore Bet Sportsbook & Casino experience.
“Alberta has an incredible sports culture, and we’re excited to bring theScore Bet Sportsbook & Casino to players across the province,” said Aaron LaBerge, Chief Technology Officer and Head of Interactive at PENN Entertainment. “Fans already know and trust theScore, and with theScore Bet, we’re extending that connection into a seamless sportsbook and casino experience.”
theScore Bet is the exclusive official gaming partner of the Toronto Blue Jays and Golf Canada, and an official gaming partner of the NHL and PGA Tour. To celebrate the launch, theScore Bet is introducing a series of fan experiences throughout the summer, including its Toronto Blue Jays Jersey Swap event.
PENN Shares Edge HigherPENN Price Action: At the time of publication, PENN shares are trading 0.69% higher at $20.50, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Key Takeaways State Street's Q2 earnings is estimated at $3.30, up 30.4%, while sales are seen rising 11.5%.NII is projected to climb 14.4% to $833.8 million, supported by robust lending and stable funding costs.Total fee revenues are expected to rise 12.6%, led by management, servicing and securities finance fees. State Street (STT - Free Report) is slated to report second-quarter 2026 results on July 16, before market open. The company’s quarterly revenues and earnings are expected to have risen year over year.
In the first quarter of 2026, STT’s earnings outpaced the Zacks Consensus Estimate. Results were aided by growth in fee revenues and net interest income (NII). Also, the company witnessed improvements in the total assets under custody and administration (AUC/A) and assets under management (AUM) balances. However, higher expenses and provisions were undermining factors.
State Street has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering a surprise of 6.97%, on average.
Major Q2 Factors & Estimates for State StreetNII: In the quarter, the Federal Reserve kept interest rates unchanged and signaled a hike later in the year. Further, a solid lending scenario (per the Fed’s latest data, overall loan growth was robust in the quarter) and stabilizing funding/deposit costs are expected to have offered the much-needed support to STT’s NII growth.
The Zacks Consensus Estimate for State Street’s average interest-earning assets is pegged at $294.8 billion, which implies a 3.2% decline from the prior-year quarter.
The consensus estimate for NII (on a fully taxable-equivalent basis) of $833.8 million indicates a 14.4% year-over-year rise.
Fee Revenues: Supported by solid inflows, the company’s AUM and AUC/A balances are expected to have increased in the to-be-reported quarter. Thus, management fees are likely to have benefited. The consensus estimate for management fees of $747.6 million implies a 33% year-over-year jump.
The consensus estimate for securities finance revenues of $133.9 million implies a 6.2% increase.
At the end of the first quarter, STT reported $315 million of servicing fee revenues to be installed. Hence, the metric is likely to have grown in the second quarter. The Zacks Consensus Estimate for servicing fees of $1.48 billion indicates a 13.1% improvement.
The Zacks Consensus Estimate for FX trading services income is pegged at $404.6 million, suggesting a 6.1% year-over-year decline. The consensus estimate for software services fees suggests a 22.8% decrease to $177.6 million.
Overall, the Zacks Consensus Estimate for total fee revenues of $3.06 billion indicates 12.6% year-over-year growth.
Expenses: Total expenses at State Street are expected to have increased in the second quarter, primarily due to higher information systems and communication costs, as well as spending on strategic acquisitions, expansion efforts and franchise investments.
While the company has been taking steps to enhance operating efficiency, ongoing investments in growth initiatives, infrastructure and technology are likely to have exerted upward pressure on costs in the to-be-reported quarter.
What the Zacks Model Unveils for State StreetPer our model, the likelihood of State Street beating the Zacks Consensus Estimate this time around is high. This is because the company has the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for State Street is +0.35%.
Zacks Rank: STT currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
State Street’s Q2 Earnings & Sales EstimatesThe Zacks Consensus Estimate for State Street’s earnings of $3.30 per share has been revised 2.8% higher over the past seven days. The figure suggests a 30.4% surge from the year-ago quarter.
The consensus estimate for quarterly sales of $3.85 billion indicates an 11.5% increase.
State Street’s Peers Worth a LookHere are STT’s peers that you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat this time:
The Bank of New York Mellon Corporation (BNY - Free Report) is slated to report second-quarter 2026 results on July 15. The company has a Zacks Rank #2 at present and an Earnings ESP of +0.05%.
Quarterly earnings estimates for BNY have been moved north to $2.20 over the past week.
The Earnings ESP for Northern Trust (NTRS - Free Report) is +0.50% and it carries a Zacks Rank of 2 at present. The company is slated to report second-quarter 2026 results on July 22.
Over the past seven days, the Zacks Consensus Estimate for Northern Trust’s quarterly earnings has been revised upward to $2.68.
Strengthened commercial leadership team, including a senior business development executive with operational experience in the French Special Forces, together with a strategic partnership with Offset Links.Expands HPQ’s and Novacium’s capabilities to identify and pursue potential opportunities beyond France across selected industrial and defence markets. MONTREAL, July 13, 2026 (GLOBE NEWSWIRE) -- HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ, OTCQB: HPQFF, FRA: O08), a technology company specializing in advanced materials innovation and next-generation industrial processes, announces that it and Novacium SAS (“Novacium”) are expanding their commercial and business development capabilities.
This initiative supports Novacium’s transition from technology development toward increased market engagement and commercial development activities across selected industrial and defence markets. It also supports HPQ’s business development strategy for Novacium’s technologies in Canada, the United States and Mexico under HPQ’s exclusive North American commercialization rights.
The expanded business development platform includes the appointment of senior professionals and a strategic advisory relationship intended to support market outreach, identify prospective opportunities and advance discussions with potential industrial and defence-sector stakeholders.
“The addition of commercial leaders with decades of international business development experience, together with operational expertise from the French Special Forces, significantly expands Novacium's business development capabilities by adding experienced professionals in international business development and defence markets,” said Bernard Tourillon, President and CEO of HPQ Silicon Inc. “As Novacium expands its business development organization, HPQ expects to benefit from these expanded capabilities through its strategic investment and exclusive North American commercialization rights. We believe this initiative represents another important step in supporting the identification and evaluation of future commercial opportunities for Novacium's technologies.”
Offset Links: A Strategic Partnership to Support International Growth
HPQ and Novacium have partnered with Offset Links, a consultancy specialising in business development for the industrial and defence sectors.
Under the agreement, Offset Links will provide strategic advisory and business development support to HPQ and Novacium, including identifying potential commercial opportunities, facilitating introductions to prospective industrial and institutional stakeholders, and supporting discussions relating to international business development initiatives.
Initial areas of focus are expected to include Australia and the MENA region markets. No commercial agreements, procurement contracts or customer commitments have been entered into as part of this arrangement.
Jean Deschamps — Founder, Chairman and Chief Executive Officer
Jean Deschamps brings decades of international experience across industry, infrastructure, and defence, including several decades in the Middle East.
Senior leadership roles at SIDEM, THALES, and GIAT Industries.Major Gulf infrastructure and industrial projects, including one of Abu Dhabi's earliest seawater desalination facilities.More than 19 years advising the British Ministry of Defence (MOD) on industrial offset programmes in Saudi Arabia. At HPQ and Novacium, he will support strategic partnerships, international business development and engagement with prospective industrial and institutional stakeholders.
Matthieu Deschamps — Commercial and Strategy Director
Matthieu Deschamps joins as Commercial and Strategy Director with more than 20 years of experience in industry, international business development, and strategic growth.
Led international market expansion programmes and negotiated commercial agreements with major industrial clients.Supported numerous partnership, investment and corporate development initiatives.Skilled in complex negotiations, commercial structuring, strategic account management, and scaling high-growth technology ventures. At HPQ and Novacium, he will lead commercial development initiatives, support strategic partnership discussions and business development activities across selected industrial and defence sectors.
Jean-Louis Florentin — Defence Business Development
Novacium and HPQ have appointed Jean-Louis Florentin to lead defence-sector business development, following a 15-year operational career in the French Special Forces.
Worked closely with defence contractors and military stakeholders to develop and deploy solutions for demanding operational environments.Collaborated with organisations including Nexter, the French Army Technical Section (STAT), and the Integrated Structure for the Operational Maintenance of Land Equipment (SIMMT), bridging technical teams, procurement, and end-users. His understanding of defence procurement processes and operational requirements will support HPQ's and Novacium's efforts to develop advanced energy solutions for applications including drones, embedded electronics and next-generation autonomous systems.
“Over the past several years, Novacium has developed a portfolio of energy technologies and is expanding its business development capabilities,” said Dr. Jed Kraiem. “The addition of Jean Deschamps, Matthieu Deschamps and Jean-Louis Florentin expands our business development capabilities by combining expertise in international business development, strategic partnerships and defence markets. Together, they will support engagement with prospective industrial, institutional and defence stakeholders while helping identify and evaluate potential commercial opportunities for our technologies.”
Salient points about the Offset Links agreement
HPQ and Offset Links have entered into a non-exclusive, arm's-length framework business development agreement with an initial one-year term, renewable unless terminated by either party. Under the agreement, Offset Links will provide strategic advisory and business development services, including identifying prospective opportunities, facilitating introductions to potential partners, and supporting the development of commercial, industrial and technology partnerships. Compensation, if any, will be determined separately for each approved business development assignment.
About HPQ Silicon
HPQ Silicon Inc. is a Quebec-based TSX Venture Exchange industrial issuer (TSX-V: HPQ) focused on innovation in advanced materials and critical process development. In partnership with its research and development partner Novacium—of which HPQ is a shareholder—the Company is advancing next-generation silicon-based anode materials (Gen3 and Gen4) for batteries, commercializing its ENDURA+ lithium-ion cells, and developing breakthrough clean-hydrogen and waste-to-energy technologies, for which HPQ holds exclusive North American rights.
HPQ is also pursuing proprietary technologies to become a low-cost, zero-CO₂ producer of fumed silica with technical support from PyroGenesis Inc. Together, these initiatives position HPQ to capture growth opportunities in the energy storage, clean hydrogen, and advanced materials markets essential to achieving global net-zero goals.
For more information, please visit HPQ Silicon web site.
About NOVACIUM SAS
Novacium is an innovative technology start-up created in 2022, in France. It is an engineering and R&D company dedicated to materials for energy, with a specialization in silicon and hydrogen. Novacium is developing 2 technologies. The first concerns a new silicon-based anode material that significantly increases the capacity of Li-ion batteries. Novacium's second activity is the generation of hydrogen. Novacium is developing an autonomous hydrogen generation system for civil and military applications fueled by a patented alloy based on silicon and aluminum.
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements. These statements rely on assumptions about technology performance, market demand, permits, financing, supply chains, and economic conditions but remain subject to significant risks, including delays, regulatory challenges, competition, pricing, financing availability, and macroeconomic uncertainties. Actual outcomes may differ materially from expectations. Detailed risk factors are outlined in HPQ’s Annual Information Form available on SEDAR+. Forward-looking information is provided solely to outline management’s future expectations and objectives.
A more detailed cautionary note regarding forward-looking information related to the HPQ Endura+ batteries project is available for download [here], and METAGENE™ technology is available for download [here].
Further information regarding the Company is available in the SEDAR+ database (www.sedarplus.ca), and on the Company’s website at: http://www.hpqsilicon.com/
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 release.
This News Release is available on the company's CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
Source: HPQ Silicon Inc.
For further information contact:
Bernard J. Tourillon, BAA, MBA Chairman, President, and CEO
Tel +1 (514) 846-3271 / Email: [email protected]
Americký prezident Donald Trump dnes řekl, že Spojené státy pravděpodobně převezmou kontrolu nad Hormuzským průlivem, a dodal, že by jim za to měla náležet kompenzace. Šéf Bílého domu to uvedl v telefonickém rozhovoru v pořadu Fox & Friends televize Fox News.
"Průliv si necháme a nejspíš ho budeme spravovat. Staneme se strážcem průlivu. Možná to budeme nazývat strážným andělem průlivu a mělo by nám to být proplaceno," řekl Trump.
Kontrola a správa Hormuzského průlivu, který je klíčový pro globální přepravu ropy, je jedním ze stěžejních bodů současného konfliktu. Írán na průliv fakticky uvalil blokádu, což vedlo k nárůstu cen energií a vyvolalo globální obavy z inflace.
"Budeme ho chránit a dostaneme za to zaplaceno hodně peněz," řekl Trump. "Bude nám to proplaceno, protože ostatní země jsou velmi bohaté. Jsou na naší straně a nelze od nás očekávat, že to budeme dělat zadarmo," dodal.
Teherán o víkendu oznámil uzavření průlivu poté, co informoval o proplutí lodi po neschválené trase. V neděli uvedl, že lodní doprava v průlivu je nadále pozastavena a že bude vydávat povolení, jakmile bude obnovena stabilita. Trump v neděli naopak uvedl, že Hormuzský průliv je otevřený pro komerční přepravu.
"Měli jsme dohodu. Byla to hotová dohoda a pak ji porušili. Vždycky ji poruší. Měli jsme s těmito lidmi deset dohod, takže je prostě zasáhneme velmi tvrdě," uvedl Trump.
Íránské revoluční gardy dnes v prohlášení uvedly, že běžná doprava v Hormuzském průlivu bude obnovena pouze za předpokladu, že tam přestanou vojensky zasahovat Spojené státy. Dodaly, že pokračující vměšování ze strany USA povede k závažnějším incidentům, jež budou mít dopad na světový energetický průmysl.
O víkendu a dnes se mezi americkými a íránskými silami odehrály intenzivní raketové a dronové útoky. Teherán uvedl, že zasáhl americká vojenská zařízení v regionu a ponechává Hormuzský průliv uzavřený, což vedlo k prudkému zdražování ropy.
Konflikt na Blízkém východě propukl 28. února, když Spojené státy a Izrael společně zaútočily na Írán. Ten v odvetě zablokoval Hormuzský průliv a začal útočit na americké vojenské základny v okolních zemích. Před vypuknutím války procházelo Hormuzským průlivem zhruba 20 procent světových dodávek ropy a zkapalněného zemního plynu (LNG).
Nejnovější střety představují další prudkou eskalaci konfliktu. Týká se to tempa útoků i jejich rozsahu za uplynulý týden. Události tak vyvolávají vážné obavy o budoucnost prozatímní americko-íránské dohody z minulého měsíce. Ta měla vést ke znovuotevření průlivu a přerušení bojů, zatímco by obě strany využily dalších 60 dní k vyjednávání.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
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VENTURA, Calif.--(BUSINESS WIRE)--The Trade Desk (Nasdaq: TTD), the world's leading independent advertising technology company, today announced the appointment of Penry Price to its board of directors.Price brings more than two decades of experience across the advertising industry, including as the Vice President of Marketing Solutions at LinkedIn and as President at Dstillery. Prior to that, he was the Vice President of Agency Sales and Partners at Google, where, among other strategic initiativ.
Built on one of the world’s largest networks, Precursor is the only defense of its kind to replace disruptive checkpoints to stop evasive bots without slowing down users
SAN FRANCISCO--(BUSINESS WIRE)--Cloudflare, Inc. (NYSE: NET), the leading connectivity cloud company, today announced the general availability of Precursor, a next-generation, continuous behavioral validation engine for bot management. Built directly on Cloudflare’s edge, Precursor runs seamlessly inside web browsers to monitor entire user sessions in order to detect bot automation. Unlike traditional, static CAPTCHAs, it analyzes ongoing interactions in real time to catch advanced bots, improving detection precision without interrupting legitimate users.
For the first time, automated bot traffic has eclipsed human activity on the Internet, now generating roughly 57% of all web requests. This milestone emphasizes a seismic evolution from an Internet built for human clicks to a digital landscape now dominated by AI agents. For organizations and everyday consumers, this means that legacy defenses are blind to a new breed of automated threats that drive up infrastructure costs, manipulate inventory, and compromise data. While a modern bot can easily fake a single action to pass a one-time security check, replicating an entire human journey remains a massive engineering hurdle. To protect the integrity of the global Internet, organizations must move away from static, point-in-time defenses and embrace continuous behavioral validation—analyzing telemetry across an entire session to unmask automated imposters trying to blend into the crowd.
"Traditional security checks look at a single moment in time, but modern bots have gotten smart enough to fake their way through the front door," said Dane Knecht, CTO of Cloudflare. "Instead of just checking an ID at the gate, we are looking at behavior over the entire visit. This makes life seamless for real users, while making it incredibly difficult and expensive for bad actors to fake human behavior. Cloudflare already protects users billions of times a day at critical moments like login and checkout, but until now, the space between those moments was a black box. With Precursor, we’re now eliminating that blindspot."
Now generally available, Precursor provides a session-level view of site activity by continuously collecting robust browser signals to block unwanted automated traffic through:
Privacy-Led Defense: Built to protect end user confidentiality, Precursor logs aggregate behavioral patterns rather than recording specific user inputs. For example, keyboard activity is recorded exclusively as timing rhythm and cadence—never capturing actual keystrokes. Zero-Code, One-Click Setup: Precursor is enabled with one click, automatically allowing Cloudflare to inject a compact, dynamic script passing through the network, requiring no modifications to underlying code. The script evaluates interaction trail dimensions such as mouse movement, scrolling rhythm, typing cadence, clipboard activity, and page visibility duration. A Real-Time Analysis Engine: Cloudflare's servers instantly unpack the telemetry data sent from a user's browser and scan it for signs of faked or computer-generated activity. We then validate whether interaction streams map rationally to human behavior, such as cross-referencing that pointer activity aligns with page visibility or text fields are focused during typing events. Session-Long Security Measures: Unlike traditional defense challenges that reset per every request, Precursor continuously evaluates the visitor’s user journey across a web or single page application. Automated agents cannot reset their behavioral signatures by refreshing a page, allowing defensive algorithms to adjust a session's Bot Score with compounding context. To learn more, please check out the resources below:
Blog: Introducing Precursor: detecting agentic behavior with continuous client-side signals Cloudflare Precursor About Cloudflare
Cloudflare, Inc. (NYSE: NET) is the leading connectivity cloud company. It empowers organizations to make their employees, applications and networks faster and more secure everywhere, while reducing complexity and cost. Cloudflare’s connectivity cloud delivers the most full-featured, unified platform of cloud-native products and developer tools, so any organization can gain the control they need to work, develop, and accelerate their business.
Powered by one of the world’s largest and most interconnected networks, Cloudflare blocks billions of threats online for its customers every day. It is trusted by millions of organizations – from the largest brands to entrepreneurs and small businesses to nonprofits, humanitarian groups, and governments across the globe.
Learn more about Cloudflare’s connectivity cloud at cloudflare.com/connectivity-cloud. Learn more about the latest Internet trends and insights at radar.cloudflare.com.
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “explores,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these words, or other similar terms or expressions that concern Cloudflare’s expectations, strategy, plans, or intentions. However, not all forward-looking statements contain these identifying words. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding the capabilities and effectiveness of Cloudflare Precursor and Cloudflare’s other products and technology, the benefits to Cloudflare’s customers from using Cloudflare Precursor and Cloudflare’s other products and technology, the timing of when Cloudflare Precursor or any of its related features will be generally available to all current and potential Cloudflare customers, Cloudflare’s technological development, future operations, growth, initiatives, or strategies, and comments made by Cloudflare’s CTO. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Cloudflare’s filings with the Securities and Exchange Commission (SEC), including Cloudflare’s Quarterly Report on Form 10-Q filed on May 8, 2026, as well as other filings that Cloudflare may make from time to time with the SEC.
The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Cloudflare undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Cloudflare may not actually achieve the plans, intentions, or expectations disclosed in Cloudflare’s forward-looking statements, and you should not place undue reliance on Cloudflare’s forward-looking statements.
Integrated subsea production system and local capabilities enable accelerated deepwater development
HOUSTON--(BUSINESS WIRE)--Global energy technology company SLB (NYSE: SLB) announced today that its OneSubsea™ joint venture has been awarded a major multi-well engineering, procurement, and construction (EPC) contract by Eni for Phase 3 of the deepwater Baleine project offshore Côte d’Ivoire.
Under the contract, SLB OneSubsea will deliver complete subsea production systems (SPS) for 13 wells, reinforcing its role as a core technology and execution partner on one of the most strategically significant offshore developments currently underway in the region.
The EPC scope includes subsea trees, umbilical, manifolds, multiphase flowmeters and control systems, along with installation, commissioning and life-of-field support. The integrated delivery model is designed to streamline execution and support the project’s fast-track development schedule.
"Baleine Phase 3 brings together scale and execution certainty," said Mads Hjelmeland, chief executive officer of SLB OneSubsea. "Through our subsea production system technology and by leveraging our established local presence, we are supporting Eni’s efforts to advance a complex, deepwater project efficiently while contributing to the long-term development of offshore resources in Côte d’Ivoire."
Project execution will be supported by SLB OneSubsea’s in-country presence and local capabilities, contributing to efficient delivery across the life of the project.
Key points
Eni has awarded SLB OneSubsea a multi-well EPC contract for the Baleine Phase 3 development. The SPS contract covers 13 wells and includes subsea trees, umbilicals, manifolds, flowmeters and control systems, along with installation and commissioning. SLB OneSubsea will execute the project through its established in-country presence and local capabilities, supporting efficient project delivery. About SLB
SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at SLB.com.
About SLB OneSubsea
SLB OneSubsea is driving the new subsea era that leverages digital and technology innovation to optimize our customers’ oil and gas production, decarbonize subsea operations and unlock the large potential of subsea solutions to accelerate the energy transition. OneSubsea is a joint venture backed by SLB, Aker Solutions and Subsea7 headquartered in Oslo and Houston, with 10,000 employees across the world. Find out more at onesubsea.com.
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
, /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) announced June month-end assets under management of $1.89 trillion. Net inflows for June 2026 were $0.8 billion, including a large subadvised equity inflow. Net outflows for the quarter-ended June 2026 were $6.5 billion. Quarterly net flows include $0.5 billion of manager-driven distributions.
The below table shows the firm's assets under management as of June 30, 2026, and for the prior month-, quarter- and year-end by asset class and in the firm's target date retirement portfolios.
As of
(in billions)
6/30/2026
5/31/2026
3/31/2026
12/31/2025
Equity
$ 919
$ 919
$ 810
$ 879
Fixed income, including money market
222
221
215
212
Multi-asset
690
691
625
627
Alternatives
62
61
60
58
Total assets under management
$ 1,893
$ 1,892
$ 1,710
$ 1,776
Target date retirement portfolios
$ 622
$ 623
$ 561
$ 561
Q2 2026 EARNINGS RELEASE AND EARNINGS CALL
T. Rowe Price will release Q2 2026 earnings on Friday, July 31, 2026 at 7:00 AM ET. The company will host an earnings call from 8:00 – 8:45 AM ET that day. To access the webcast and accompanying materials, visit the company's investor relations website at: investors.troweprice.com.
OTHER MATTERS
T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.89 trillion in client assets as of June 30, 2026, about two-thirds of which are retirement-related. Renowned for over 85 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its long-standing expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amidst evolving markets. Visit troweprice.com/newsroom for news and public policy commentary.
New division will target ATM deployment, merchant payment processing, point-of-sale services, and a venue-integrated payment solution for adult entertainers
NEW YORK--(BUSINESS WIRE)--Tradewinds Universal (OTC: TRWD), a holding company building an experiential hospitality platform, today announced the establishment of its Financial Services Division.
TRWD is building a new recurring-revenue adult payment processing, POS services and venue-integrated technology—with multimillion-dollar potential.
ShareThe division is being developed to generate recurring, transaction-based revenue from services used every day across adult entertainment venues, bars, restaurants, nightclubs, and related hospitality businesses.
The Financial Services Division will initially focus on:
ATM deployment, management, and transaction servicesMerchant payment processing and point-of-sale servicesA professional, venue-integrated payment solution for adult entertainers and customersThe division is intended to complement TRWD's venue acquisition strategy, Club Management Group, technology initiatives, and strategic alignment with Peppermint Hippo and affiliated brands.
Capturing Revenue Already Moving Through the Industry
Adult entertainment and nightlife venues process significant cash and electronic payment volume every night. Customers withdraw cash, purchase food and beverages, reserve VIP tables, pay admission charges, and complete other transactions throughout the guest experience.
TRWD intends to participate in that activity through ATM surcharges, interchange and processing arrangements, merchant-processing residuals, equipment programs, software services, and transaction-based fees. Unlike revenue dependent on opening another venue, these services can scale with both the number of participating locations and the transaction volume generated inside each location.
"ATM withdrawals, card transactions, and digital payments are already happening throughout this industry every night," said Andrew Read, CEO of Tradewinds Universal. "Our opportunity is to bring those transactions into a professional platform that improves the customer experience while creating recurring revenue for TRWD."
ATM Deployment Across Entertainment and Hospitality Venues
Cash remains an important part of the adult nightlife and hospitality economy. TRWD plans to pursue ATM deployment and management opportunities across Peppermint Hippo and affiliated locations, future acquired venues, Club Management Group clients, and independently owned hospitality businesses.
ATM revenue is generated each time a customer accepts a disclosed surcharge to complete a withdrawal. In adult entertainment venues, where immediate access to cash is an important part of the customer experience, ATM charges can be substantially higher than those commonly found in traditional retail locations. On certain transactions, particularly smaller withdrawals, the ATM surcharge can represent up to approximately 25% of the amount withdrawn.
TRWD may participate in this revenue through ATM ownership, placement, management, processing relationships, interchange revenue, or negotiated revenue-sharing agreements with participating venues.
The global payment processing solutions market is projected to reach approximately $86.1 billion in 2026, while the global ATM market is estimated at approximately $25.7 billion in 2026. These adjacent markets demonstrate the scale of the transaction infrastructure supporting TRWD's specialized strategy. NCR Atleos Corporation, traded on the NYSE, and Euronet Worldwide, Inc., traded on Nasdaq, demonstrate the scale that can be achieved through ATM networks, transaction processing, and managed services.
TRWD intends to apply a more specialized model focused on entertainment and hospitality locations where demand for convenient access to cash remains significant.
Merchant Processing and Point-of-Sale Services
The Financial Services Division also intends to offer merchant-processing and point-of-sale services to adult entertainment venues, bars, restaurants, nightclubs, and other hospitality operators.
Payment-service providers commonly earn a percentage of payment volume, fixed per-transaction charges, and recurring fees for equipment, software, account services, and support. Restaurant and hospitality payment-processing costs frequently range from approximately 1.5% to 3.5% of transaction value, depending on card type, processing volume, risk profile, and services provided.
Adult entertainment businesses are often classified as higher-risk merchants, resulting in higher processing costs, stricter underwriting, reserve requirements, account restrictions, and fewer available providers. TRWD intends to use its industry knowledge and relationships to connect participating businesses with qualified acquiring banks, payment processors, point-of-sale providers, and related technology partners.
Shift4 Payments, Inc. and Toast, Inc., both traded on the NYSE, demonstrate how payment volume, point-of-sale technology, software, and recurring transaction fees can be combined into scalable business models.
TRWD believes it can apply a similar transaction-driven approach to a specialized hospitality market where it already has industry access and potential participating locations.
Developing a Professional Payment Solution for Adult Entertainers
A major initiative of the Financial Services Division will be the development of a professional payment method that allows adult entertainers to accept authorized customer payments through a secure, transparent, and venue-integrated system.
Customers and entertainers currently rely heavily on cash and credit-card transactions. The growth of consumer peer-to-peer payment applications has created circumvention issues, with some entertainers attempting to accept electronic payments directly from customers outside the venue's approved systems. These applications were not specifically designed for transactions inside adult entertainment venues, and their rules may restrict certain commercial transactions or require approved business accounts and merchant relationships.
When payments occur outside a venue's approved systems, the club can lose transaction visibility, financial controls, and potential participation in revenue generated inside its own location.
TRWD's proposed solution is intended to:
Provide customers with a professional digital payment optionGive entertainers a safer and more reliable alternative to cash and informal payment applicationsIntegrate payments with venue operations and financial controlsProtect customer and entertainer privacyImprove transaction visibility and recordkeepingCreate additional transaction-based revenue for participating venues and TRWD"The customer wants convenience, the entertainer wants confidence that the payment will be received, and the venue needs a professional system that protects everyone involved," said Alan Chang, founder and Chief Executive Officer of Peppermint Hippo and a director of TRWD. "This is a real operational need throughout the industry. Solving it correctly can improve the guest experience, reduce payment friction, and create an important new revenue stream."
Building a Scalable Financial Services Platform
TRWD has retained a specialized payments-technology developer to begin building the integration, reporting, and venue-onboarding infrastructure for the Financial Services Division. The Company intends to combine this technology with its relationships across adult entertainment, nightlife, bar, and restaurant operations to deploy ATM, merchant-processing, point-of-sale, and related transaction services through qualified third-party providers.
The opportunity is supported by operating data provided by TRWD's strategic partner, Peppermint Hippo, and its affiliated brands. Using a conservative benchmark of approximately $100,000 in annual ATM surcharge sales per established venue, a network of only 20 participating locations could represent approximately $2 million in annual ATM surcharge volume.
TRWD also intends to offer its services to independently owned clubs and hospitality businesses outside its affiliated network. When combined with merchant-processing residuals, point-of-sale services, equipment programs, entertainer payments, and other transaction-based revenue, management believes the Company's industry relationships could support rapid adoption and position the Financial Services Division to pursue eight-figure annual revenue potential as the platform expands.
"The value of this division grows with every location and every transaction," Read added. "We are beginning with an industry network we already understand, but the opportunity extends well beyond our affiliated venues. The goal is to build a financial-services platform that can serve operators throughout the entertainment and hospitality industries."
Clarification of TRWD's Role
TRWD's Financial Services Division is being established as a non-bank services platform. The Company does not intend to operate as a bank, depository institution, lender, or independent money transmitter.
TRWD intends to provide, manage, integrate, and market ATM, merchant-processing, point-of-sale, and related transaction services through relationships with qualified acquiring banks, payment processors, ATM networks, technology providers, and other appropriately authorized third parties.
Those providers would remain responsible for applicable merchant underwriting, transaction authorization, processing, clearing, settlement, and movement of funds. TRWD's anticipated role will center on commercial relationships, technology integration, program management, venue implementation, customer support, and participation in transaction-based fees and revenue-sharing arrangements.
About Peppermint Hippo
Founded in 2018 by Alan Chang, Peppermint Hippo has grown from Toledo, Ohio into the fastest-expanding adult nightlife brand in the country. Its Las Vegas flagship opened in April 2022 as the only gentlemen's club on the Las Vegas Strip. The brand now operates 12-plus clubs nationwide, including affiliated Las Tóxicas locations, delivering a "Mini-Vegas" experience through upscale design, professional entertainment, and elevated hospitality standards. Visit ThePeppermintHippo.com.
About Tradewinds Universal
Tradewinds Universal (OTCID: TRWD) is a fully reporting, publicly traded holding company acquiring and scaling adult hospitality businesses. The Company is consolidating a fragmented industry under a public structure, in strategic alignment with Peppermint Hippo and affiliated brands. Its long-term goal is to build a national, multi-brand platform comprising 100 or more venues.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding TRWD's operational plans, acquisition timing, revenue expectations, growth prospects, expansion targets, and anticipated strategic developments. Factors that could cause actual results to differ include, but are not limited to, risks associated with the Company's ability to consummate acquisitions, obtain necessary licensing and regulatory approvals, integrate acquired businesses, access capital on favorable terms, achieve projected revenue targets, and navigate general economic and market conditions. Revenue figures attributed to Peppermint Hippo and affiliated brands reflect the performance of entities that are not yet wholly owned subsidiaries of TRWD; actual revenue contribution to TRWD's consolidated financial statements will depend on the timing and completion of definitive acquisition agreements. Forward-looking statements speak only as of the date of this release. Tradewinds Universal disclaims any obligation to update or revise any forward-looking statements except as required by law.
Data Sources and References
Peppermint Hippo and affiliated brandsFortune Business Insights — Payment Processing Solutions Market Size and Industry OverviewMordor Intelligence — ATM Market Size and Share AnalysisNerdWallet — Credit Card Processing Fees: What Small Businesses Should KnowNCR Atleos Corporation — Company InformationEuronet Worldwide, Inc. — Investor Relations
At first, I was a bit skeptical of the barrage of bearish bets placed by Dr. Michael Burry, the man made famous by The Big Short film. Indeed, it can be pretty dangerous to go looking for that next big short, especially in a market climate that continues to favor the bulls. Not to mention, shorting stocks outright has become dangerous in the post-meme stock era, where the shorts can be squeezed out in excruciating fashion.
In any case, Dr. Burry’s bearish put options have, for the most part, landed pretty well. And I think there’s a good chance that he’s still early in the game. On the surface, it feels like the man is just looking to bet against the AI bubble. When you look at the moves he’s been making, though, I think it’s more apparent that he’s betting on the bubble within AI.
Michael Burry isn’t just shorting His long position in Microsoft (NASDAQ:MSFT | MSFT Price Prediction), an undervalued and neglected AI champion (at least in my view), seems to signify that there is still value to be had in AI, but not everything in the AI waters is going to be a safe bet.
In any case, Dr. Burry’s recent long bets on the sports-betting plays, I think, are unrelated to the AI boom, but do seem to target another boom that most other investors may be ignoring as they themselves gamble on the hottest stocks in AI (most notably, the DRAM stocks).
Indeed, the appetite for gambling and speculation is still quite high despite the lacklustre performance of the sports-betting stocks. It just feels like bettors have taken their disposable incomes to the prediction and stock markets.
Perhaps there’s no smarter way to bet on that than by betting big on sports-betting stocks, rather than seeking to short red-hot momentum stocks, which, while overvalued and bubbly, might not implode within a timeframe that allows one’s bearish bets to be profitable.
The sports-betting stars have gone bust While I have respected Dr. Burry’s moves, I must say that I haven’t found any that have been worth following until his latest bets on DraftKings (NASDAQ:DKNG) and Flutter Entertainment (NYSE:FLUT). Shares of both sports-betting plays have had their boom days. But, more recently, they’ve gone bust in a big way. And that’s exactly why value seekers, like Dr. Burry, tend to be more than willing to swoop in as investors move on, perhaps to gamble on the hottest of the hot AI stocks.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Flutter Entertainment didn't make the cut. Grab the names FREE today.
With a 60% allocation in Flutter, the firm behind FanDuel, and 40% in DraftKings, Dr. Burry is making a bold bet, and one that’s tilted in his favor, at least in my humble opinion. Of course, much buzz has been made about prediction markets and how they’ve stepped on the feet of the big players in the sports-betting market. With guidance moving lower and many bettors growing discouraged by unusually unpredictable results, questions linger as to whether the sports-betting stocks themselves can ever be great bets again.
Indeed, one way to even the playing field is for the two firms to make a deeper dive into prediction markets. But the big question is whether regulators will put hurdles in front of prediction market platforms. If regulators do start cracking down, perhaps the sports-betting plays will rise up again.
Dr. Burry sees room for improvement Aside from the competitive threats from prediction market platforms, which might fade away at the drop of a hat, Dr. Burry sees past mismanagement and poor capital allocation as an opportunity to shift the cards around to spark a turn. Indeed, the firms can pull back on the marketing spend (how many sports-betting app ads have we already been bombarded with in recent years?), DraftKings and Flutter might actually be able to pull in some seriously impressive profits.
In essence, perhaps Flutter and DraftKings have already acquired enough interest such that they can move into a “year of efficiency,” so to speak. Bettors already know the names. And when they’re ready to place a bet, they’ll know where to go.
Dr. Burry raises some very interesting points, and it’s hard not to feel that much more bullish about the firms and where they could go next now that the price of admission has fallen to the floor.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Flutter Entertainment didn't make the cut. Grab the names FREE today.
Discover why agency mortgage REITs act as the ultimate portfolio hedge, designed to aggressively outperform when the broader economy collapses. A clear look at how mREITs leverage low-cost repo market borrowings against government-guaranteed 5% coupon assets to generate massive net interest spreads. Understand the structural advantage of holding agency MBS, where credit risk is fully offloaded onto Fannie Mae and Freddie Mac.
DETROIT, July 13, 2026 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ: WKHS) (“Workhorse”), a North American OEM and provider of all-electric trucks, step vans, shuttles and buses, today announced the appointment of Jody Davis as Chief Financial Officer (CFO), replacing current CFO Bob Ginnan, who is retiring.
Davis is a finance executive with approximately 15 years of finance leadership experience across manufacturing, energy storage, aerospace, and technology companies, with a track record of closing large capital rounds and guiding development-stage businesses into full production. His experience includes roles in strategic finance, capital formation, capital markets, treasury, financial planning & analytics, as well as building the finance infrastructure needed to support capital intensive companies as they move from development into commercialization and production.
“Jody is a company-builder who has deep and direct experience in numerous areas that are critical to Workhorse at this stage in our journey,” said Scott Griffith, CEO of Workhorse. “His experience raising later-stage growth capital combined with experience developing relationships with analysts and investors will be a strong addition to the Workhorse leadership team. We believe he’s the right CFO for where we are and where we’re going.”
Immediately prior to joining Workhorse, Davis served as Vice President of Strategic Finance at Unimacts, where he led financing initiatives across multiple entities within a complex capital structure. Previously, he served as Chief Financial Officer of Evio, formerly EOS Aircraft Inc., a hybrid-electric regional aircraft program, where he led the strategic repositioning of the business to Montreal, Canada as part of an Industrial and Technological Benefits (ITB) partnership with Boeing Canada. In connection with that transition, he built integrated financial models linking design, production and certification milestones to capital deployment.
Davis was part of the founding team and served as Chief Financial Officer of Our Next Energy, Inc., (ONE), a Michigan-based LFP battery innovator. During his time with the company, ONE scaled from pre-seed stage to production while expanding to approximately 500 employees, and Davis built the finance, human resources, financial planning & analytics functions needed to support this rapid growth. He played a key role across capital formation, various debt structures, investor diligence, board reporting, treasury, working capital discipline, and manufacturing scale-up.
“Workhorse is at an inflection point. I believe it has something rare: a product that already wins on real operator economics, a commercial-grade manufacturing facility, and a customer base that includes many of the largest medium-duty fleets in North America,” said Davis. “Workhorse is in the early stages of an exciting growth plan, and with the right capital partners, I believe there is significant upside ahead. My focus will be to bring in those partners and work to maintain a financial architecture that keeps pace with the opportunity: the right capital structure, rigorous cost management, and the systems that give Workhorse’s team, customers and investors the visibility they need. I’m thrilled to join the Workhorse team and look forward to getting to work.”
The Company believes Davis’ background is well-suited to help Workhorse achieve its near-term priorities, including securing additional growth capital, developing relationships with analysts and institutional investors, and accelerating cost reductions on the W56 and next-generation Class 5–6 platforms. Davis replaces current CFO Bob Ginnan, who is retiring. Ginnan served as CFO at Workhorse since January, 2022, helping the company navigate through several key corporate financial events, including capital raises, a divestiture and the merger with Motiv Electric Trucks.
“I want to thank Bob for his years of leadership and tireless work, including his most recent efforts to assist with finalizing and closing the Workhorse-Motiv merger and his efforts to lead several key aspects of integration,” said Griffith. “We all wish him well.”
About Workhorse Group Inc.
Headquartered in the Detroit area with a commercial-scale manufacturing plant in Union City, Indiana, Workhorse (Nasdaq: WKHS) is redefining what a medium-duty truck should be. Workhorse builds software-first, electric trucks, shuttles and buses that are powerful, cost-efficient, reliable, safe and comfortable — all with zero tailpipe emissions. Our deep experience building electric vehicles at scale drives intentional innovations designed to help customers lower operating costs, improve fleet performance, enhance the driver experience, and maximize uptime without compromise. More information is available at www.workhorse.com.
Media Relations Contacts:
Workhorse
John Williams, Communications
+1-206-660-5503, [email protected]
This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that are not historical facts, including statements regarding the impact of Mr. Davis’ appointment, and those regarding the Company's achievement of its priorities and its other plans, objectives, expectations, business strategies, future operations, financial performance, prospects, and other future events or developments, are forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, and estimates as of the date of this press release and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties are described in greater detail under the caption "Risk Factors" in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable law.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/92a2014d-8229-4cbb-a588-2b25e1a0886b
Jody Davis, Chief Financial Officer at Workhorse Jody Davis joins Workhorse as CFO, replacing current CFO Bob Ginnan, who is retiring.
On July 13, 2026, we present a detailed DCF analysis for Toyota Motor Corp (TM), a company currently facing a challenging market environment with a year-to-date
Shares of Texas Pacific Land Corporation (TPL +1.80%) rallied 52.4% in the first half of 2026, according to data from S&P Global Market Intelligence.
Texas Pacific owns a large land portfolio and oil and gas royalty interests in West Texas, a center for both U.S. oil and gas development, as well as the AI data center build-out. Therefore, the first half of 2026 provided a somewhat ideal environment for the company to thrive.
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War with Iran and the agentic AI boom spell growth for Texas Pacific One of the big factors in Texas Pacific's first half story was, obviously, the war in Iran and the subsequent rise in oil and gas prices. TPL's portfolio of 882,000 surface acres and 224,000 NRA (net royalty acres) near the Permian Basin positions it to benefit from higher prices. Higher oil and gas prices not only spur oil and gas companies to explore, lease, and drill on more land, but they also increase TPL's royalties, given that most royalties are based on a percentage of sales, and therefore rise along with prices.
Not only that, but West Texas is also becoming a prime location for AI data centers, thanks to its cheap land, lower regulatory burden, and access to abundant energy. AI data centers also require a lot of water, and TPL is also a major water producer, owning not only the groundwater on its land but also a water treatment facility in the state as well.
These capabilities led to a large AI data center partnership with Bolt, an AI data center start-up helmed by former Alphabet CEO Eric Schmidt. Bolt has ambitions to build 10 gigawatts of AI computing data centers in Texas. TPL invested $50 million in Bolt in December, and under the terms of the deal, may take even more of a stake in in Bolt in exchange for its surface acres, while also receiving a right of first refusal to provide Bolt with power and water to its future data centers. Although TPL's direct $50 million investment in Bolt occurred in late December, more details about the deal emerged during the company's fourth-quarter earnings call in February.
After a February surge, Texas Pacific's stock took a bit of a downturn in March and April as oil prices fell from their highs, as a tentative ceasefire was agreed to on April 7. Furthermore, the stock came under renewed pressure following the unexpected death of the CEO of Horizon Kinetics Holdings (HKHC +2.60%), which is Texas Pacific's largest shareholder. The unexpected death triggered a sell-off, as investors pondered whether Horizon would sell its stake should new management seek to wind down the company's holdings.
However, there was more good news toward the end of June for TPL, when the company announced a deal with Chevron (CVX +1.82%), which is building a power generation plant on TPL land to support a customer's data center in Reeves County, Texas. TPL will supply land and brackish water for the project.
Image source: Getty Images.
Texas Pacific is well-positioned for the AI boom, but priced accordingly Texas Pacific is in a very fortunate position, owning a massive amount of land and oil and gas royalty rights in an oil and gas-rich region, which is also becoming "ground zero" for the AI data center build-out.
After the first half run, TPL shares look a bit expensive at 55 times trailing earnings and roughly 38 times this year's earnings estimates; however, keep in mind that, as a royalty company, Texas Pacific is relatively asset-light, with strong growth prospects thanks to the continued AI-related development of West Texas. As such, it's a strong addition to any stock portfolio aiming to capitalize on the AI boom and U.S. energy security.
Robinhood Markets Inc. (NASDAQ:HOOD) is swiftly proving that its blockchain ambitions go much beyond simply facilitating crypto trades.
Robinhood Chain, the brokerage’s Ethereum-compatible Layer-2 network, is quickly becoming one of the fastest-growing ecosystems in decentralized finance just days after launching.
On-chain data shows the network has already accrued over $130 million in total value locked (TVL) in just the past week. The chain has handled about $560 million in 24-hour decentralized exchange (DEX) trading activity during its first week.
Unlike many of the recently created blockchains that rely on short-term token incentives, Robinhood Chain seems to be bringing in more enduring liquidity. Its TVL is almost 90% in lending vaults, indicating users are putting their wealth to work for yield, not only farming prizes.
That’s an important distinction, considering that Robinhood built the network on top of existing decentralized technology.
Notably, each new tokenized stock trade, each lending transaction, and each on-chain payment contribute to the activity of the protocols that run the ecosystem.
Robinhood’s expansion of its blockchain strategy seems to have the clearest structural exposures in Arbitrum (ARB), Uniswap (UNI), and Morpho (MORPHO). Here are the reasons.
Arbitrum: The Infrastructure Behind Robinhood’s ChainRobinhood Chain is built on Arbitrum Orbit, making it one of the highest-profile enterprise implementations of Arbitrum’s Layer-2 tech to date.
However, it’s more than just brand affinity.
For those who don’t know, Orbit chains return some of their sequencer revenue to the broader Arbitrum ecosystem. Consequently, the partnership has created a direct economic link between what happens on Robinhood’s network and the Arbitrum infrastructure.
Under the Orbit structure, a portion of net sequencer revenues goes to the Arbitrum DAO treasury, while another percentage is assigned to protocol development.
For Arbitrum, Robinhood is not just another blockchain launch. This is confirmation that more and more big financial institutions are building consumer-facing products on top of Ethereum’s layer-2 infrastructure instead of building their own segregated blockchain networks from scratch.
As Robinhood rolls out tokenized equities, stablecoin payments, and on-chain settlement, the transaction volume flowing through its Orbit chain might continue to underpin activity across the broader Arbitrum ecosystem.
Interestingly, ARB, the native token of the Arbitrum protocol, is beginning to confirm the improving fundamentals on the chart.
The token recently reclaimed the 23.6% Fibonacci retracement at $0.089. This happened after it bounced from a multi-month low near $0.070, while rising volume points to rising buyer interest. Momentum indicators also show bulls regaining control after several weeks of consolidation.
If buying pressure continues, ARB could target the 0.382 Fibonacci level at $0.10, followed by $0.12, where stronger resistance sits.
A break above those levels would pave the way for a move toward $0.15.
However, failure to hold above $0.089 would weaken the bullish setup and expose the token to another retest of the $0.070 support zone. Robinhood Chain adoption could serve as the catalyst needed to sustain the current breakout.
Uniswap May Witness Rising Trading ActivityRobinhood also added Uniswap as one of the major decentralized exchanges that the network has supported with liquidity from day one.
Besides offering automated market-making infrastructure for token swaps, the protocol routes trades across various Uniswap versions for better execution.
Early adoption has already generated liquidity in the tens of millions of dollars, but the bigger opportunity may be ahead.
Robinhood has launched Agentic Accounts, which are programmable accounts that let AI-powered software agents perform trades on their own.
If the applications take off with tokenized equities and stablecoin trading, they might provide a steady flow of on-chain transactions through Uniswap’s liquidity pools.
Robinhood’s retail brokerage operation provides a recurring source of customers that could support decentralized exchange activity over time, unlike speculative trading spikes that tend to disappear after fresh chain launches.
For Uniswap, Robinhood might be one of the biggest bridges from traditional finance into decentralized marketplaces.
Like ARB, UNI’s long-term chart is beginning to mirror its improving fundamental outlook.
As shown below, the altcoin has broken above a descending channel that has capped price action for months, suggesting bearish momentum is fading.
At the same time, both the MACD and Money Flow Index (MFI) are turning higher, indicating strengthening momentum alongside renewed capital inflows.
The first hurdle remains the $4 psychological level. A clearing could send UNI toward $6.30, aligning with the 23.6% Fibonacci retracement, before buyers potentially target $8.80.
The bullish outlook would lose momentum if UNI falls back below the former channel resistance and slips under $3.20.
Such a move would suggest the breakout was a false start and shift attention back toward the $2.30 support area.
Yield Strategy Powered by Morpho RobinhoodMorpho is perhaps the biggest direct benefit of the rise of the Robinhood Chain.
Morpho’s decentralized lending infrastructure powers Robinhood Earn, the platform’s on-chain yield offering, instead of centralized lending providers.
Lending is the main use case for Robinhood Chain, according to current on-chain data, with Morpho-powered vaults accounting for around $90 million of the network’s total value locked.
The concentration indicates that people see Robinhood Chain as a venue rather than a trading platform.
Instead, capital is pouring into lending markets where depositors can earn yield via decentralized credit markets.
Robinhood’s addition of support for its USDG stablecoin and other tokenized assets could continue to attract liquidity to those lending pools and further cement Morpho’s position as the financial backbone of the ecosystem.
That’s a better long-term investment story for investors than many of the early launches of blockchain, where TVL has frequently been a result of transitory liquidity incentives.
Meanwhile, Morpho continues to trade within a well-defined ascending channel, reinforcing the broader uptrend despite recent profit-taking.
From the chart below, the cryptocurrency is currently pulling back after rejecting resistance at around $2.25. However, the Awesome Oscillator (AO) remains above the zero line, indicating bullish momentum is still intact.
Holding above the 0.618 Fibonacci level around $1.86 would keep buyers in control.
If that support holds, MORPHO could retest $2.25, followed by $2.41, with a breakout potentially extending toward the upper boundary of the rising channel near $2.70.
The bullish structure would be invalidated by a sustained break below $1.86, which could trigger a deeper correction toward $1.69 before buyers attempt to regain control.
Why the Robinhood Chain Matters for CryptoRobinhood’s approach looks less like a token-driven growth play and more like an attempt to build open financial infrastructure using proven DeFi components.
Instead of issuing a native chain token or locking users into a closed environment, Robinhood is leaning on Ethereum compatibility, established liquidity venues, and battle-tested lending primitives to turn familiar financial activities—trading, yield, and settlement—into on-chain workflows.
If stablecoins, tokenized equities, and AI-assisted execution continue moving into the mainstream, Robinhood Chain could act as a consumer-scale onramp to DeFi.
In that scenario, usage growth wouldn’t accrue to "Robinhood Chain" as a ticker. It could also benefit the protocols working underneath it.
For now, the first-week metrics suggest that Robinhood Chain is avoiding the "ghost chain" path that has haunted past corporate blockchain launches.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
A logo of Blackstone is pictured in Manhattan, New York City, U.S. July 29, 2025. REUTERS/Mike Segar/File Photo Purchase Licensing Rights, opens new tab
CompaniesJuly 13 (Reuters) - U.S. pipeline operator Williams (WMB.N), opens new tab said on Monday a consortium led by Blackstone (BX.N), opens new tab will invest $5.34 billion for a 49% noncontrolling stake in five of its behind-the-meter power generation projects.
The consortium, which also includes Apollo and insurance vehicles and accounts managed by KKR (KKR.N), opens new tab, will provide $4.4 billion representing 49% of expected growth capital expenditures for the projects, along with about $900 million of additional consideration to Williams.
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The transaction covers the company's Socrates, Apollo, Aquila, Socrates the Younger and Neo projects, part of a broader pipeline of more than 6 gigawatts of power projects that Williams is developing.
Reporting by Sumit Saha in Bengaluru; Editing by Maju Samuel
Our Standards: The Thomson Reuters Trust Principles., opens new tab
GREENSBORO, N.C., July 13, 2026 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, today announced it has been recognized by Northrop Grumman Corporation with a 2026 Supplier Excellence Award for Strategic Excellence.
Northrop Grumman acknowledged Qorvo for Strategic Excellence, underscoring the vital role suppliers play in delivering next-generation capabilities across defense systems, including aircraft, missile defense and space platforms.
“Northrop Grumman has a legacy of fostering strong partnerships, a network of hardworking innovators and collaborators striving toward a mutual goal of protecting the United States and its allies,” said Ken Brown, vice president and chief supply chain officer, Northrop Grumman. “From putting the first humans on the moon to introducing stealth technology that revolutionized defense, Northrop Grumman and our partners have continually pushed the boundaries of what is possible.”
“This recognition reflects the strength of our strategic partnership with Northrop Grumman and our shared commitment to advancing next-generation defense technologies,” said Philip Chesley, president of Qorvo’s High Performance Analog business. “We are proud to support mission-critical applications with high-performance RF solutions that help enable global security.”
Qorvo’s contributions include delivering high-performance RF solutions and services supporting mission-critical applications across radar, communications and electronic warfare systems, helping enable advanced capabilities that strengthen the defense industrial base.
Northrop Grumman’s Supplier Excellence Awards highlight the critical role suppliers play in supporting more than 100,000 jobs and generating significant economic impact across the United States.
About Qorvo
Qorvo (Nasdaq: QRVO) supplies innovative semiconductor solutions that make a better world possible. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers’ most complex technical challenges. Qorvo serves diverse high-growth segments of large global markets, including automotive, consumer, defense & aerospace, industrial & enterprise, infrastructure and mobile. Visit www.qorvo.com to learn how our diverse and innovative team is helping connect, protect and power our planet.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions, and are not historical facts and typically are identified by terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "forecast," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations as of the date the statement is first made, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We caution you not to place undue reliance upon any such forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under U.S. federal securities laws. Our business is subject to numerous risks and uncertainties, including those relating to fluctuations in our operating results on a quarterly and annual basis; our substantial dependence on developing new products and achieving design wins; our dependence on several large customers for a substantial portion of our revenue; a loss of revenue if defense and aerospace contracts are canceled or delayed; our dependence on third parties; risks related to sales through distributors; risks associated with the operation of our manufacturing facilities; business disruptions; poor manufacturing yields; increased inventory risks and costs, due to timing of customers' forecasts; our inability to effectively manage or maintain relationships with chipset suppliers; our ability to continue to innovate in a very competitive industry; underutilization of manufacturing facilities; unfavorable changes in interest rates, pricing of certain precious metals, utility rates and foreign currency exchange rates; our acquisitions, divestitures and other strategic investments failing to achieve financial or strategic objectives; our ability to effectively execute on restructuring initiatives; our ability to attract, retain and motivate key employees; warranty claims, product recalls and product liability; changes in our effective tax rate; enactment of international or domestic tax legislation, or changes in regulatory guidance; changes in the favorable tax status of certain of our subsidiaries; risks associated with social, environmental, health and safety regulations, and climate change; risks from international sales and operations; economic regulation in China; changes in government trade policies, including imposition of tariffs and export restrictions; we may not be able to generate sufficient cash to service all of our debt; restrictions imposed by the agreements governing our debt; our reliance on our intellectual property portfolio; claims of infringement of third-party intellectual property rights; security breaches, failed system upgrades or regular maintenance and other similar disruptions to our IT systems; theft, loss or misuse of personal data by or about our employees, customers or third parties; provisions in our governing documents and Delaware law may discourage takeovers and business combinations that our stockholders might consider to be in their best interests; negative impacts from activist stockholders; volatility in the price of our common stock; risks and uncertainties relating to the Mergers, including the occurrence of any event, change or other circumstance that could give rise to the right of us or Skyworks to terminate the Merger Agreement; the outcome of any legal proceedings that may be instituted against us or Skyworks in connection with the Mergers; the possibility that the Mergers do not close when expected or at all because of required regulatory, stockholder, or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all (and the risk that seeking or obtaining such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Mergers); that efforts to complete the Mergers may affect our business relationships with our existing and potential customers, suppliers, service providers and other business partners; that the expected synergies from the Mergers may not be fully realized or may take longer to realize than anticipated; any failure to promptly and effectively integrate the businesses of the Company and Skyworks; and that the Mergers may divert management’s attention and time from ongoing business operations and opportunities. These and other risks and uncertainties, which are described in more detail under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended March 29, 2025, and Qorvo’s subsequent reports and statements that we file with the SEC, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.
July 13, 2026 08:30 ET | Source: Array Technologies, Inc.
ALBUQUERQUE, N.M., July 13, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (the “Company” or “ARRAY”) (NASDAQ: ARRY), a leading global provider of solar tracking technology products, software, services and foundation solutions, today announced that the Company will release its second quarter 2026 results after the market closes on Wednesday, August 5, 2026, to be followed by a conference call at 5:00 p.m. (Eastern Time) that same day.
The conference call can be accessed live over the phone by dialing (888)-396-8049 (domestic) or (416)-764-8646 (international), or via webcast of the live conference call by logging onto the Investor Relations section of the Company’s website at http://ir.arraytechinc.com. A telephonic replay will be available approximately three hours after the call by dialing (877)-660-6853 (domestic), or (201)-612-7415 (international), with the passcode 13761476. The replay will be available until 11:59 p.m. (ET) on August 19, 2026. The online replay will be available for 14 days on the same website, immediately following the call.
About ARRAY Technologies
ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology and fixed tilt systems to utility-scale and distributed generation customers who construct, develop, and operate solar PV sites. With solutions engineered to withstand the harshest weather conditions, ARRAY’s high-quality solar trackers, fixed-tilt systems, software platforms, foundation solutions, and field services combine to maximize energy production and deliver value to our customers for the entire lifecycle of a project. Founded and headquartered in the United States, ARRAY is rooted in manufacturing and driven by technology – relying on its domestic manufacturing, diversified global supply chain, and customer-centric approach to design, deliver, commission, train, and support solar energy deployment around the world. For more news and information on ARRAY, please visit arraytechinc.com.
FREMONT, Calif., July 13, 2026 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company, today announced the launch of the new IQ9N™ Microinverter for residential solar in Australia and New Zealand, continuing the product's global rollout following recent launches across Europe and the United States. Built with gallium nitride (GaN) technology, IQ9N Microinverters are designed for the latest high-power solar panels and backed by an industry-leading 25-year limited warranty.
IQ9N Microinverters support 16 A of continuous DC current and 427 VA of continuous output power to help maximize energy production from each module. They are backward compatible with IQ7™ and IQ8™ Series Microinverters and compatible with IQ® Batteries, enabling homeowners and installers to expand existing Enphase systems using similar installation methods and accessories. GaN technology enables peak efficiency of up to 97.95% and cooler operation.
IQ9N Microinverters optimize energy from each panel across partial shading, complex roof layouts, and high-temperature conditions, making them well suited to the Australian climate. Enphase’s GaN architecture reduces conduction losses and heat while supporting long-term reliability and consistent performance across seasons. Read the technical white paper, "Enphase Adoption of GaN Bi-Directional Switch Technology for Distributed Power Electronics," for more details.
Like all Enphase microinverters, IQ9N Microinverters convert DC to AC at each panel, eliminating long high-voltage DC runs used in traditional string inverter designs and delivering a safer, all-AC architecture on the roof. Per-panel power conversion also keeps the rest of the system producing even if one panel is shaded, soiled, or offline.
“With some of the highest rooftop solar penetration anywhere in the world, Australian homeowners expect their systems to turn every available ray of sunshine into real savings,” said Kallan Smith, director at GoSolar Newcastle, an installer of Enphase products in the Hunter region of New South Wales, Australia. “IQ9N Microinverters bring Enphase’s latest GaN-based technology to the roof, helping maximize production from each panel while pairing seamlessly with Enphase IQ Batteries to create a truly state-of-the-art, unified home energy system.”
“New Zealand homes need solar technology that can handle real-world conditions – coastal air, fast-changing weather, complex rooflines, and the growing use of higher-power panels,” said James Reid, solar team leader at ElectraServe, an installer of Enphase products in Canterbury, New Zealand. "IQ9N Microinverters let us pair the latest panels with per-panel optimization that captures energy other architectures leave on the roof. Additionally, they enable simple expansion and coupling to the latest technologies."
"Homeowners here want solar that performs for decades, not just on day one," said Luke Rose, director at Helcro Solar, an installer of Enphase products in Greater Melbourne in Victoria, Australia. "The efficiency, reliability, and 25-year warranty of IQ9N Microinverters give us complete confidence in every system we design."
IQ9N Microinverters meet rigorous grid compliance standards, including AS/NZS 4777.2:2020, and are CEC listed. A double-insulated, corrosion-resistant polymer housing and -40°C to +65°C operating range enable them to withstand extreme weather conditions. Built-in rapid shutdown capability helps reduce risk to utility workers and first responders. Homeowners can monitor system performance at the panel level, receive real-time alerts, and benefit from over-the-air software updates through the Enphase® App.
"Australia is one of the world’s most advanced rooftop solar markets and a natural next step in the global expansion of IQ9N Microinverters," said Ken Fong, senior vice president and general manager for Americas and Asia Pacific at Enphase Energy. "IQ9N Microinverters combine our proven distributed architecture with GaN technology in a compact form factor for residential solar.”
IQ9N Microinverters are currently available through Enphase distribution partners in Australia and New Zealand. Learn more about IQ9N Microinverters on the Enphase website.
About Enphase Energy, Inc.
Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems, EV chargers, home energy management systems, and virtual power plant (VPP) solutions. Enphase products enable people to harness the sun to make, use, save, and sell their own power, all controlled through the Enphase App. The company revolutionized the solar industry with its microinverter-based technology and has shipped approximately 87.8 million microinverters, with more than 5.2 million Enphase-based systems deployed in over 165 countries. For more information, visit https://enphase.com/.
This press release contains forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy's IQ9N Microinverters and related technology, including safety, quality, and reliability; the suitability of IQ9N Microinverters for residential solar applications and the latest high-power residential solar panels; the expected benefits of gallium nitride-based technology, including higher efficiency, cooler operation, and optimized performance across conditions; the expected benefits of Enphase's distributed microinverter architecture; the availability and timing of IQ9N Microinverter shipments in Australia and globally; the compatibility of IQ9N Microinverters with existing Enphase systems and IQ Batteries; anticipated homeowner and installer adoption of IQ9N Microinverters in Australia and New Zealand; and the scope and terms of Enphase's limited warranty. These forward-looking statements are based on Enphase Energy's current expectations and assumptions and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements. Such risks include, but are not limited to, market demand; competitive developments; changes in incentive programs and regulatory or compliance requirements; the pace of residential solar adoption in Australia, New Zealand, and other markets; manufacturing and supply chain constraints; and other factors discussed in Enphase Energy's filings with the Securities and Exchange Commission, including those risks described in more detail in Enphase Energy's most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and other filings made from time to time with the Securities and Exchange Commission. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.
Ground Based Modular System Recently Demonstrated Mission Effectiveness July 13, 2026 08:00 ET | Source: Kratos Defense & Security Solutions, Inc.
SAN DIEGO, July 13, 2026 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, today announced that the company has recently received an approximate $100 million sole source prime contract award for the production of a ground-based modular space domain awareness system. Kratos is an industry leader in space domain awareness, directed energy and other relevant national security systems. Work under this new program award will be performed at secure Kratos production and integration facilities.
Mike Johns, Kratos Senior Vice President, said, “Kratos is proud to have developed, tested and demonstrated this true technology-leading space domain awareness system, which will now be entering production. Our entire organization is extremely proud to have the confidence with our customer to move forward with this mission critical national security system. Based on customer feedback, we believe that this program could in the future become one of the most important for our DRSS business.”
Eric Demarco, Kratos’ President and CEO, said, “We believe that across our company, Kratos has the right, relevant products, at the right time, at the right cost points—products which can be rapidly mass produced and fielded now. There is a generational rebuild and recapitalization of the U.S. defense industrial base under way, including for strategic space systems, to deter and defeat our enemies, and Kratos is committed to supporting the Department of War and the success of its mission.”
Due to security related, competitive and other considerations, no additional information will be provided.
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.
July 13, 2026 08:00 ET | Source: ContextLogic Holdings Inc
OAKLAND, Calif., July 13, 2026 (GLOBE NEWSWIRE) -- ContextLogic Holdings Inc. (OTCQB: LOGC) (“ContextLogic,” the “Company,” “we” or “our”), a business ownership platform focused on acquiring and building a portfolio of high-quality, long-duration businesses, today announced that it has appointed Seth Siegel as a Senior Advisor.
In his role, Mr. Siegel will advise the Company and its Board of Directors on strategic growth initiatives, transaction evaluation, financial reporting and governance, as ContextLogic continues to expand its business ownership platform.
Mr. Siegel most recently served as Chief Executive Officer of Grant Thornton, where he led approximately 12,000 professionals across 60 offices and oversaw a transformation that produced double-digit organic revenue growth, record earnings, and the largest private equity investment in the history of the accounting profession. During his three-decade career at the firm, Mr. Siegel advised public companies, boards of directors and large, complex organizations through periods of growth and transformation. He brings rare collective experience across governance, strategic transactions and operating a large-scale global professional services organization, together with deep SEC and PCAOB expertise and qualification as an audit committee financial expert.
“Seth brings exactly the experience we need as we build ContextLogic’s acquisition platform,” said Raja Bobbili, Chairman of the ContextLogic Board. “He has led at the highest levels of the accounting and advisory profession and understands the financial discipline, governance, and judgment required to build a public company the right way. Equally importantly, Seth is joining with real alignment: he invested his own capital in ContextLogic at the outset. That ownership mindset is central to how we want to build this company, and it makes Seth a terrific fit for us.”
“What makes ContextLogic special is not just the distinctiveness of its model and the ambition behind it, but the disciplined approach to business ownership, governance and long-term value creation,” said Mr. Siegel. “I invested in the Company because I believe in its strategy, leadership, and shareholder-oriented culture. I now look forward to leveraging my expertise to support the Board and management team as they continue building out the platform with many compelling opportunities ahead.”
Mr. Siegel is an experienced board director and a licensed CPA in the State of Florida. He received a bachelor’s degree in accounting from Florida Atlantic University. Further, Mr. Siegel completed the Corporate Board Effectiveness Program at Harvard Business School and director education programs through the National Association of Corporate Directors.
About ContextLogic Holdings Inc.
ContextLogic is a publicly-traded business ownership platform established to own a collection of niche, competitively advantaged, long-duration businesses. Each business operates with meaningful autonomy under world-class management teams whose incentives are tightly aligned with those of the Company’s shareholders, supported by a governance structure that creates direct accountability between operators and owners. For more information about ContextLogic, please visit www.contextlogic.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding Seth Siegel’s impact at ContextLogic. In some cases, forward-looking statements can be identified by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “foresees,” “forecasts,” “guidance,” “intends,” “goals,” “may,” “might,” “outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “targets,” “will,” “would” or similar expressions and the negatives of those terms. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Important factors, risks and uncertainties that could cause actual results to differ materially from those forward-looking statements include but are not limited to: future financial performance; future liquidity and operating expenditures; financial condition and results of operations; enforceability of transfer restrictions and occurrence of an ownership change with the result that ContextLogic’s ability to use its net operating losses could be severely limited; future legislation resulting in ContextLogic being unable to realize the benefits of the tax attributes; ContextLogic’s ability to make use of the existing benefits of the tax attributes because ContextLogic may not generate taxable income; risks related to any future acquisition of a business or assets; currently pending or future litigation; risks if we are deemed to be an investment company under the Investment Company Act of 1940; the effect of new accounting pronouncements; competitive changes in the marketplace and other characterizations of future events or circumstances; and the other important factors discussed in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks that could affect ContextLogic’s results is included in its filings with the Securities and Exchange Commission (“SEC”), including the Annual Report on Form 10-K for the year ended December 31, 2025 and other reports that ContextLogic files with the SEC from time to time, which could cause actual results to vary from expectations. Any forward-looking statement made by ContextLogic in this news release speaks only as of the day on which ContextLogic makes it. ContextLogic assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
AUSTIN, Texas, July 13, 2026 (GLOBE NEWSWIRE) -- via IBN -- NetworkNewsAudio announces the Audio Press Release (APR) titled “Lock the Sensor, Lock the Response: The Power of Building the Autonomous Public-Safety Stack,” featuring Wrap Technologies Inc. (NASDAQ: WRAP).
To hear the NetworkNewsAudio version, visit: https://ibn.fm/Q1skh
To read the original editorial, visit: https://ibn.fm/x0Dt4
Frenel Imaging has built the TPiCore platform on a Division of Focal Plane architecture that captures and processes the polarization component of thermal radiation in real time at the edge, without cloud latency or RF dependency, data that conventional cameras are physically blind to. Independent field work, including a 2020 Army Research Laboratory study comparing mid-wave and long-wave thermal polarimetric imaging, supports the physics behind the platform’s detection advantage.
Through the Frenel transaction, Wrap Technologies holds exclusive rights to that capability across the United States and all NATO markets and has made TPiCore the machine-perception layer of WrapShield. For every agency, installation and infrastructure operator that needs to see the RF-silent threat, no competitor appears to hold an equivalent position.
About Wrap Technologies Inc.
Wrap Technologies is a global leader in innovative public safety technologies and non-lethal tools, delivering cutting-edge technology with exceptional people to address the complex, modern-day challenges facing public-safety organizations.
WRAP’s complete public-safety portfolio includes the non-lethal BolaWrap(R) 150 device, Wrap Reality(R) immersive training platform, WrapVision(TM) body-worn camera system, WrapTactics(TM) training programs, and next-generation C-UAS solutions such as PAN-DA and the 1KC Kinetic Anti-Drone Cassette, all of which support the company’s mission to provide safer, scalable and cost-effective technologies for public safety, defense and critical infrastructure markets.
With a growing demand for non-lethal tools and techniques to create time, distance and tactical advantage in noncriminal calls, Wrap’s BolaWrap 150 incorporates a multisensory distraction of sight and sound as a first response, followed by a non-lethal restraint if further escalation is required. This approach reduces the risk of injury to officers, subjects, and the community.
Wrap’s BolaWrap 150 solution is intended to provide law enforcement with a safer choice for nearly every phase of a critical incident. This innovative, patented device deploys a multi-sensory, cognitive disruption to expand the pre-escalation period and gives officers the advantage and critical time to manage non-compliant subjects before resorting to higher-force options. The BolaWrap 150 is not pain-based compliance. It does not shoot, strike, shock or incapacitate; instead, it helps officers strategically operate pre-escalation on the force continuum, reducing the risk of injury to both officers and subjects. Used by more than 1,000 agencies across the United States and in 60 additional countries, BolaWrap is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (“IADLEST”), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.
WrapReality(TM) VR is a fully immersive training simulator to enhance decision-making under stress.
As a comprehensive public-safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, WrapReality is intended to equip officers with the skills and confidence to navigate high stakes encounters effectively, which we believe leads to safer outcomes for both responders and the communities they serve.
WrapVision is an all-new body-worn camera and evidence management system built for efficiency.
Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, WrapVision captures, stores and helps manage digital evidence, ensuring operational security, regulatory compliance and enhanced video picture quality and field of view.
The WrapVision camera, powered by IONODES, boasts streamlined cloud integration and final North American assembly, with a critical made-in-America roadmap projected for early 2026. This track helps ensure data integrity and helps eliminate critical concerns over unauthorized access or foreign surveillance risks.
NOTE TO INVESTORS: The latest news and updates relating to WRAP are available in the company’s newsroom at https://ibn.fm/WRAP
For more information about Wrap Technologies, visit the company’s website at www.Wrap.com.
About NetworkNewsAudio
NetworkNewsAudio, a service of NetworkNewsWire (NNW), a multifaceted financial news and publishing company powered by IBN (“InvestorBrandNetwork”), allows you to sit back and listen to market updates, interviews and company press releases. NetworkNewsAudio keeps you informed on publicly traded companies we're watching. The audio clips provide snapshots of position, opportunity and momentum. NetworkNewsAudio is a Brand Awareness Distribution Solution from NetworkNewsWire.
For more information, visit: www.NetworkNewsAudio.com
NetworkNewsWire (NNW) is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW has the unparalleled ability to reach a wide audience of investors, consumers, journalists and the general public. With an ever-growing distribution network of more than 5,000 key syndication outlets across the nation, NNW cuts through the overload of information in today's markets bringing its clients unparalleled visibility, recognition and brand awareness. NetworkNewsWire is where news, content and information converge.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: https://NNW.fm/Disclaimer
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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, /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced its second quarter earnings conference call will be webcast on Wednesday, August 5, 2026 at 8:30 a.m. ET. A news release detailing the quarterly results will be made available that day at 6:30 a.m. ET.
A live audio webcast can be accessed via Zimmer Biomet's Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the conference call.
Individuals in the U.S. and Canada who wish to dial into the conference call may do so by dialing (800) 330-6710 and using conference ID 7090861. International callers should dial +1 (213) 279-1505 and use conference ID 7090861.
About Zimmer Biomet
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.
With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation.
For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.
Will create publicly traded advanced clean energy company focused on modular carbon-free energy, green hydrogen, critical materials and industrial decarbonization
Business Combination expected to provide public market platform to accelerate commercialization, project development and strategic growth across North America and Europe
Definitive agreement provides for the sale of Matinas BioPharma Nanotechnologies, Inc., including MAT2203 and the LNC technology platform, to Azurity Pharmaceuticals for $4.0 million upfront, up to an additional $17.5 million in potential milestones and future mid-single-digit royalties
BEDMINSTER, N.J., July 13, 2026 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. (NYSE American: MTNB) (“Matinas” or the “Company”), today announced that it has entered into a definitive business combination agreement (the “Business Combination Agreement”) with GH Power Inc. (“GH Power”) to create a NYSE-listed and publicly-traded critical minerals and clean energy company focused on modular reactors that convert recycled metals into high value advanced materials, clean hydrogen, and usable heat for industrial, utility and distributed energy applications (the “Business Combination”). The Company also announced that it has entered into a definitive stock purchase agreement (the “Stock Purchase Agreement”) to sell Matinas BioPharma Nanotechnologies, Inc., including MAT2203 and the Company’s lipid nano-crystal (“LNC”) technology platform, to Azurity Pharmaceuticals, Inc. (“Azurity”).
Business Combination with GH Power
Pursuant to the Business Combination Agreement, a newly formed Ontario corporation expected to be named GH Power International at or prior to the closing of the Business Combination (“GHP International”) will become the public parent company of GH Power and Matinas. In the first step, pursuant to a plan of arrangement under Section 182 of the Business Corporations Act (Ontario), a wholly owned Ontario subsidiary of GHP International will amalgamate with GH Power to form an amalgamated corporation that will be a wholly owned subsidiary of GHP International. Immediately thereafter, a wholly owned Delaware subsidiary of GHP International will merge with and into Matinas, with Matinas surviving as a wholly owned subsidiary of GHP International.
GH Power has developed proprietary modular reactor systems that convert scrap metals and water into high-purity alumina, clean hydrogen and thermal energy. The Company's technology is designed to address growing demand for behind-the-meter power, the onshoring of critical mineral production, and industrial decarbonization. Following the closing of the Business Combination, the combined company is expected to focus on accelerating the commercialization and deployment of GH Power’s proprietary technology platform, expanding project development and strategic partnerships across premier markets in North America and Europe, and pursuing commercial deployment opportunities across the rapidly growing clean energy, green hydrogen, industrial decarbonization and critical materials markets. The combined company expects to leverage access to the public capital markets to support its growth strategy and advance the development of a diversified pipeline of commercial projects.
“This transaction marks a defining milestone for GH Power and reflects years of technology development, engineering and execution,” said David White, Chief Executive Officer of GH Power. “Becoming a publicly traded company is expected to strengthen our access to capital, enhance our strategic visibility, and accelerate the commercialization of our proprietary modular reactor technology. We are focused on deploying our technology across industrial applications, expanding our strategic partnerships and entering new markets where demand for critical minerals, behind-the-meter power and green hydrogen continues to grow. We believe this transaction positions GH Power to execute on its commercial pipeline and deliver sustainable long-term value for customers and shareholders.”
“Following a comprehensive review of strategic alternatives, our Board concluded that this transaction represents a compelling strategic opportunity to maximize long-term value for our stockholders,” said Jerome D. Jabbour, Chief Executive Officer of Matinas. “We believe this transaction positions our stockholders to participate in an innovative company focused on advanced clean energy, green hydrogen and critical minerals—markets that are attracting significant global investment and are expected to experience substantial long-term growth—while also unlocking the value of our LNC technology platform and MAT2203 through their sale to Azurity.”
Under the terms of the Business Combination Agreement, existing GH Power equityholders are expected to own approximately 91% of the outstanding equity of GHP International immediately following closing, and existing Matinas equityholders are expected to own approximately 9% of the outstanding equity of GHP International immediately following closing, in each case calculated on a fully diluted basis using the treasury stock method and subject to certain assumptions and adjustment mechanisms as set forth in the Business Combination Agreement and plan of arrangement, including for capital raised by either GH Power or Matinas prior to closing and certain other issuances, but excluding the financings described below.
At the effective time of the Business Combination, each outstanding share of Matinas common stock is expected to be converted into the right to receive 0.1 of a GHP International common share, and each outstanding share of Matinas preferred stock is expected to be cancelled and converted into the same per-share consideration on an as-converted basis, in each case subject to the terms and conditions of the Business Combination Agreement. Outstanding Matinas stock options and warrants will be assumed by GHP International and converted into options and warrants to acquire GHP International common shares, and outstanding GH Power securities will be exchanged for GHP International common shares in accordance with the exchange ratio set forth in the Business Combination Agreement and the plan of arrangement.
The boards of directors of GH Power, Matinas, GHP International and the merger subsidiaries have unanimously approved the proposed Business Combination. Concurrently with the execution of the Business Combination Agreement, certain directors, officers and stockholders of Matinas and certain directors, officers and shareholders of GH Power entered into voting and support agreements pursuant to which they agreed, among other things, to vote their shares in favor of the Business Combination Agreement, the plan of arrangement and the related transactions, and against any competing acquisition proposal or other action that would be expected to impede the transaction, subject to the terms and conditions set forth therein. In addition, certain Matinas stockholders and GH Power shareholders have agreed to customary lock-up restrictions on the GHP International securities they receive in the transaction.
The proposed transaction is expected to close in the fourth quarter of 2026, subject to satisfaction or waiver of customary closing conditions, including, among other things, approval by Matinas stockholders, approval by the requisite GH Power securityholders, required Ontario court approvals in connection with the plan of arrangement, effectiveness of the registration statement on Form F-4, including the proxy statement/prospectus contained therein, to be filed with the U.S. Securities and Exchange Commission (the “SEC”), GHP International qualifying as a foreign private issuer as of the closing, completion by GH Power of a financing resulting in gross proceeds of at least $15.0 million, and approval for listing of GHP International's common shares on the NYSE American.
Upon the closing of the Business Combination, the Board of Directors of GHP International is expected to consist of five directors, with four directors designated by GH Power and one director designated by Matinas.
The Business Combination Agreement contains customary representations, warranties and covenants made by GH Power, Matinas, GHP International and the merger subsidiaries, including covenants regarding the conduct of business during the interim period, non-solicitation obligations (subject to exceptions permitting the board of Matinas to respond to an unsolicited superior offer consistent with its fiduciary duties) and the preparation, filing and effectiveness of the registration statement on Form F-4. The Business Combination Agreement also contains certain termination rights for both GH Power and Matinas, including the right of either party to terminate if the closing has not occurred by December 31, 2026 (subject to extension in specified circumstances).
Additional information about the proposed transaction will be included in a Current Report on Form 8-K to be filed by Matinas with the SEC. Investors and other interested parties seeking details regarding the terms and conditions of the proposed transaction are urged to review the Form 8-K and the exhibits attached thereto, which will be available on the SEC's website at www.sec.gov.
Divestiture of Matinas BioPharma Nanotechnologies, Inc. to Azurity
Matinas also entered into the Stock Purchase Agreement with Azurity Pharmaceuticals, Inc. (“Azurity”), pursuant to which Azurity will acquire all of the issued and outstanding equity interests in Matinas BioPharma Nanotechnologies, Inc., Matinas’s wholly owned subsidiary that has been developing Matinas’s lipid nano-crystal (“LNC”) drug delivery technology and the Company’s lead product candidate, MAT2203, an oral formulation used for the treatment of fungal infections (the “Stock Sale”).
Under the terms of the Stock Purchase Agreement, Azurity will acquire Matinas BioPharma Nanotechnologies, Inc., including all rights to MAT2203 and Matinas’s LNC technology platform, for $4.0 million in upfront cash consideration, subject to customary adjustments, plus up to an additional $17.5 million in potential milestone payments and future mid-single-digit royalties on net sales and certain licensing proceeds generated by MAT2203.
Pursuant to royalty rights certificates previously issued to the former holders of Matinas’s Series A Preferred Stock, such holders are entitled to receive, in the aggregate, 7.5% of all amounts received by Matinas from Azurity in connection with the Stock Sale, including the upfront cash consideration, milestone payments and royalty amounts described above.
Consummation of the transaction with Azurity remains subject to the approval of Matinas stockholders and the satisfaction of customary closing conditions, including the satisfaction of the conditions to closing of the Business Combination with GH Power.
Matinas Financings
Series D Financing
Matinas also announced that it entered into a securities purchase agreement (the “Purchase Agreement”) with certain investors, pursuant to which they purchased from the Company, in a single closing on July 10, 2026, an aggregate of 575 shares of Series D Convertible Preferred Stock (the “Preferred Stock”) and warrants to purchase up to 1,642,856 shares of common stock (the “Warrants”), at a purchase price of $1,000 per share of Preferred Stock and accompanying Warrants, for aggregate gross proceeds of $575,000, before deducting offering expenses payable by Matinas (the “PIPE”).
Beginning on the effective date of stockholder approval of the issuance of the shares issuable upon conversion of the Preferred Stock, the shares of Preferred Stock will be convertible into common stock at a conversion price of $0.35. Each share of Preferred Stock is initially convertible into approximately 2,857 shares of common stock. The Warrants will have an exercise price of $0.35 per share, will be exercisable on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the Warrants and will expire five years from the effective date of stockholder approval.
Matinas intends to use the net proceeds from the PIPE for working capital and general corporate purposes.
Warrant Inducement
Matinas also announced the entry into definitive agreements for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 7,486,605 shares of common stock initially issued in February 2025 and April 2025 (the “Existing Warrants”), having a current exercise price of $0.35 per share (the “Inducement”). The shares of common stock issuable upon exercise of the Existing Warrants are registered for resale pursuant to an effective registration statement on Form S-3 (No. 333-286686). The Inducement also closed on July 10, 2026.
As an inducement for the immediate exercise of the Existing Warrants for cash, Matinas will issue new unregistered warrants to purchase up to 7,486,605 shares of common stock (the “New Warrants”). The New Warrants will have an exercise price of $0.35 per share, will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the New Warrants and will expire five years from the effective date of stockholder approval.
The aggregate gross proceeds to Matinas from the exercise of the Existing Warrants were approximately $2.6 million, prior to deducting warrant solicitation agent fees and transaction offering expenses.
Matinas intends to use the net proceeds from the Inducement for working capital and general corporate purposes.
The securities offered in the PIPE and the Inducement were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”) and/or Rule 506(b) of Regulation D promulgated thereunder and have not been registered under the Act or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
ThinkEquity is acting as an advisor and as exclusive warrant solicitation agent in connection with the Inducement.
About GH Power
GH Power is a critical minerals and clean energy technology company developing proprietary modular reactor systems that convert recycled metals and water into high-purity alumina, clean hydrogen and thermal energy. GH Power’s technology is designed to enable more sustainable production of critical minerals while supporting industrial decarbonization and behind-the-meter energy solutions. Through strategic partnerships and commercial deployments, GH Power is advancing the adoption of its technology across advanced materials and distributed energy markets.
About Matinas BioPharma
Matinas BioPharma is a biopharmaceutical company focused on delivering groundbreaking therapies using its lipid nano-crystal (LNC) platform delivery technology. Matinas's common stock is listed on the NYSE American under the ticker symbol “MTNB.”
About Azurity Pharmaceuticals
Azurity Pharmaceuticals is a privately held global pharmaceutical company dedicated to redefining medicine for the real world. Azurity’s first-in-class enterprise model challenges the status quo by rethinking how therapies are designed, delivered and accessed. With more than 50 medicines across 10 therapeutic areas, Azurity’s mission is fueled by a growing portfolio that reaches millions of people in more than 50 countries.
Additional Information and Where to Find It
In connection with the proposed Business Combination and related stockholder approvals, including approval of the Stock Sale and any stockholder approvals required for the PIPE and Warrant Inducement, Matinas, GH Power and GHP International expect that a registration statement on Form F-4 will be filed with the SEC, containing a preliminary proxy statement for Matinas stockholders that will also constitute a preliminary prospectus of GHP International, whose securities are expected to be listed on the NYSE American upon consummation of the Business Combination and the Stock Sale. After the registration statement is declared effective, Matinas will mail a definitive proxy statement/prospectus to its stockholders. Investors, stockholders and other interested persons are urged to read, when available, the proxy statement/prospectus and other documents filed with the SEC because they will contain important information about the proposed Business Combination, the Stock Sale and related matters. Matinas stockholders will be able to obtain a free copy of the proxy statement/prospectus (when available) and other documents filed with the SEC by Matinas or GHP International, without charge, by directing a request to [email protected]. These documents, once available, can also be obtained, without charge, at the SEC’s website at www.sec.gov.
Participants in the Solicitation
Matinas, GH Power, GHP International and their respective directors, executive officers and other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from Matinas stockholders in connection with the Business Combination, the Stock Sale and the other transactions described herein. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of Matinas’s executive officers and directors in its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on March 31, 2026. Information regarding the persons who may be deemed participants in the solicitation and their interests in the Business Combination, the Stock Sale and the other transactions described herein will be set forth in the proxy statement/prospectus and other relevant materials when they become available.
No Offer or Solicitation
This communication does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, or a solicitation of any vote or approval with respect to the Business Combination, the Stock Sale or any other transaction described herein, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or pursuant to an exemption from, or in a transaction not subject to, registration requirements.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), with respect to the Business Combination involving Matinas, GH Power and GHP International, the Stock Sale involving Matinas and Azurity and the other transactions described herein. These statements include, among others, statements regarding the anticipated benefits and timing of the closing of the Business Combination and the Stock Sale; GH Power’s assets, technology, development plans and commercial opportunities; Matinas BioPharma Nanotechnologies, Inc., MAT2203 and the LNC technology platform; the consideration, milestone payments, royalties and licensing proceeds that may be payable in connection with the Stock Sale; the PIPE and Warrant Inducement; the expected ownership, capitalization, board composition and listing of GHP International; the satisfaction of closing conditions; and future financial condition, performance and strategy. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “potential,” “plan,” “may,” “should,” “will,” “would,” “will continue,” “will likely result” and similar expressions. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, the risk that the Business Combination or the Stock Sale may not be completed in a timely manner or at all; failure to satisfy closing conditions, including Matinas stockholder approval, GH Power securityholder approval, Ontario court approvals, effectiveness of the Form F-4 registration statement, completion of the GH Power financing and listing of GHP International’s securities; failure to realize anticipated benefits; failure to receive consideration, milestone payments, royalties or licensing proceeds expected in connection with the Stock Sale; costs related to the transactions and becoming a public company; changes in business, market, financial, political and regulatory conditions; risks relating to GHP International’s anticipated operations and business and the assets and business of Matinas BioPharma Nanotechnologies, Inc.; the outcome of any legal proceedings that may be instituted against Matinas, GH Power, GHP International, Azurity or others following announcement of the transactions; and the risk factors discussed in documents that Matinas has filed, or that Matinas and/or GHP International will file, with the SEC. Matinas, GH Power and GHP International undertake no obligation to update any forward-looking statements except as required by applicable law.
The constant barrage of artificial intelligence driving the hyperscaler complex massive spending spree is starting to fatigue many investors. With a war still in progress, albeit on a regional basis, in two sections of the world and government spending exploding the deficit higher, many across Wall Street are starting to agree that something has to give at some point, and it may be soon. With second-quarter earnings in full force, they need to come in strong with positive forward guidance. With the S&P 500 trading at 25.7 times trailing earnings, valuations as high as those of the dot-com era, many investors may be starting to wobble. Add in the forward 12-month earnings price to earnings at 23, which is also above the historical average of 18, and trouble could be brewing.
Hopes for rate cuts are effectively out the window, at least for now, as sticky inflation and higher energy prices could crimp corporate margins, and a cooling labor market adds in all the ingredients for a 10% sell-off. Add in the fact that July is a notoriously troublesome month for momentum investors, and many may want to derisk a high-beta portfolio while staying invested. We screened our 24/7 Wall St. defensive high-yield stock database for stocks investors could shift to now that are likely to hold up far better during a 10% or bigger sell-off. Five of our favorite companies hit our screens, and all are Buy-rated at the top Wall Street firms we cover, and all have paid dependable dividends uninterrupted for years.
Why do we cover defensive high-yield stocks? Investors love defensive, high-yield dividend stocks because they offer dependable passive income streams and an excellent opportunity for solid total return. Total return includes interest, capital gains, dividends, and distributions realized over time. In other words, the total return on an investment or portfolio consists of income and stock appreciation. At 24/7 Wall St., we have focused on dividend stocks for over 15 years because, despite the stock market’s ups and downs, many people need reliable passive income streams to supplement their income from employment or other sources such as Social Security and pensions.
Altria This is one of the world’s largest producers and marketers of tobacco, cigarettes, and related products. This tobacco company offers value investors a great entry point. Altria (NYSE:MO | MO Price Prediction) manufactures and sells smokable and oral tobacco products in the United States. Altria is the undisputed yield leader among consumer staples Dividend Kings.
Altria leads its peer group with a high yet secure 5.91% dividend yield, backed by a stable 82% cash payout ratio. The company’s core strength relies on Marlboro, which holds a durable 40% share of the U.S. cigarette market and leverages pricing power to offset volume declines. Additionally, Altria’s low beta of 0.51 provides defensive, low-volatility insulation during broader market downturns.
The company primarily sells cigarettes under the Marlboro brand, as well as:
Cigars and pipe tobacco, principally under the Black & Mild and Middleton brands Moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands on! Oral nicotine pouches e-vapor products under the NJOY ACE brand It sells its tobacco products primarily to wholesalers, including distributors and large retail organizations, such as chain stores.
Altria used to own over 10% of Anheuser-Busch InBev (NYSE: BUD), the world’s largest brewer. Last year, the company sold 35 million of its 197 million shares through a global secondary offering. That represents 18% of its holdings but still leaves 8% of the outstanding shares in its back pocket. Altria also announced a $2.4 billion stock repurchase plan partially funded by the sale.
UBS has a Buy rating with a $79 price target.
Enbridge Enbridge (NYSE:ENB) owns and operates pipelines throughout Canada and the United States. This is an off-the-radar idea based in Canada, poised to break out to new highs soon, and pays a rich 6.96% dividend. Enbridge operates as an energy infrastructure company. Enbridge announced its 31st consecutive annual dividend increase in 2026, lifting the payout by another 3%, and has paid dividends for over 70 years. With roughly 98% of its annual earnings backed by long-term, fixed-rate contracts and regulated rate structures, the company stands out as one of the most defensive and reliable plays in the energy infrastructure sector. The company is the largest natural gas utility in North America by volume, delivering about 9.3 billion cubic feet daily to 7.1 million customers with a toll-road-like model that’s less exposed to price swings.
The company operates through five segments:
Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services The Liquids Pipelines segment operates pipelines and related terminals in Canada and the United States to transport various grades of crude oil and other liquid hydrocarbons.
The Gas Transmission and Midstream segment invests in natural gas pipelines and gathering and processing facilities in Canada and the United States.
The Gas Distribution and Storage segment is involved in natural gas utility operations, serving residential, commercial, and industrial customers in Ontario, as well as in natural gas distribution and energy transportation activities in Quebec.
The Renewable Power Generation segment operates power-generating assets, including wind, solar, geothermal, and waste heat recovery facilities, as well as transmission assets, in North America and Europe.
The Energy Services segment provides energy marketing services to refiners, producers, and other customers, as well as physical commodity marketing and logistical services in Canada and the United States.
Royal Bank of Canada has an Outperform rating and a $79 target price.
Realty Income This real estate investment trust has paid monthly dividends consistently for years. Top-rated Realty Income (NYSE:O) owns over 15,500 properties with a 98.9% occupancy rate across 1,761 tenants in 92 industries, many in strong categories like grocery stores and dollar stores. Occupancy has never fallen below 96.6% this century, even during the Great Recession and the COVID-19 pandemic. This is an ideal stock for growth and income investors seeking a safer contrarian idea for the rest of 2026, with a 5.12% dividend yield. Realty Income is an S&P 500 company that acquires and manages freestanding commercial properties that generate rental revenue under long-term net lease agreements with its commercial clients.
It is engaged in a single business activity: leasing property to clients, generally on a net basis. This business activity spans various geographic boundaries and encompasses a range of property types and clients across multiple industries. Widely considered the gold standard of monthly dividend stocks, Realty Income has been paying dividends since 1969. It has paid 667 consecutive monthly dividends as of early 2026 and increased its dividend 132 times since its 1994 IPO.
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The company owns or holds interests in approximately 15,621 properties in all 50 states and:
United Kingdom France Germany Ireland Italy Portugal Spain With clients operating in 89 industries, its property types include retail, industrial, gaming, and other categories such as agriculture and office.
Its primary industry concentrations include:
Grocery stores Convenience stores Dollar stores Drug stores Home improvement stores Restaurants Quick service Jefferies has a Buy rating with a $69 target price.
VICI Properties Vici Properties (NYSE:VICI) is a real estate investment trust based in New York City that specializes in casino and entertainment properties, paying a stellar dividend yield of 6.88%. This is one of the top picks across Wall Street in the net lease group and is ideal for more conservative investors seeking gaming exposure and a substantial dividend. It is an S&P 500 experiential REIT with one of the largest portfolios of market-leading gaming, hospitality, and entertainment destinations, including three iconic entertainment facilities on the Las Vegas Strip:
Caesars Palace Las Vegas MGM Grand The Venetian Resort Las Vegas VICI Properties owns 93 experiential assets across a geographically diverse portfolio of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio comprises approximately 127 million square feet and features approximately 60,300 hotel rooms, as well as over 500 restaurants, bars, nightclubs, and sportsbooks. Gaming revenue has proven remarkably resilient in recent downturns, and its triple-net lease structure means it collects rent regardless of tenant profitability swings.
Its properties are occupied by industry-leading gaming, leisure, and hospitality operators under these long-term, triple-net lease agreements.
VICI Properties has a growing array of real estate and financing partnerships with leading operators in other experiential sectors, including:
Bowlero Cabot Canyon Ranch Chelsea Piers Great Wolf Resorts Homefield Kalahari Resorts VICI Properties also owns four championship golf courses and 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip.
The Bank of America price target for the Buy-rated shares is $34.
Verizon Verizon Communications (NYSE:VZ) is an American multinational telecommunications company that continues to offer tremendous value. It trades at 9.13 times its estimated 2026 earnings and pays a 6.66% dividend. Verizon provides a range of communications, technology, information, and entertainment products and services to consumers, businesses, and government entities worldwide.
Verizon’s trailing 12-month interest coverage ratio is 4.6× to 5×, providing ample cushion for dividend payments. With a very predictable revenue stream from telecom services, the company has less exposure to commodity cycles. In addition, the large scale helps in financing and absorbing shocks. Publish rep[orts indicate that management has increased the dividend for 20 consecutive years and expects at least $21.5 billion in free cash flow this year.
It operates in two segments:
Verizon Consumer Group Verizon Business Group The Consumer segment provides wireless services across the United States through Verizon and TracFone networks, as well as through wholesale and other arrangements. It also provides fixed wireless access (FWA) broadband through its wireless networks and related equipment and devices, such as:
Smartphones Tablets Smartwatches Other wireless-enabled connected devices The segment also offers wireline services in the Mid-Atlantic and northeastern United States through its fiber-optic network, Verizon Fios product portfolio, and copper-based network.
The Business segment provides wireless and wireline communications services and products, including:
FWA broadband Data Video and conferencing Corporate networking Security and managed network Local and long-distance voice Network access services to deliver various IoT services and products to businesses, government customers, and wireless and wireline carriers in the United States and internationally.
Raymond James has an Outperform rating with a $56 target price.
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A legal career can eventually deliver a six-figure income, but the path is rarely passive. The median annual wage for lawyers was $151,160 in May 2024, and attorneys in higher-paid roles can clear $200,000 or more. The tradeoff is years of training, tuition, billable hours, and pressure that does not disappear when the workday ends. A dividend portfolio can aim at the same income target, but it requires a large capital base and the right kind of risk.
Use $200,000 as the working figure. It is a plausible gross-income target for a higher-earning attorney and round enough to make the portfolio math easy.
The Three Price Tags The equation is the same in each scenario: income target divided by yield equals required capital.
At 3.5%, $200,000 of annual income requires about $5.71 million. At 6%, the bill drops to $3.33 million. At 10%, it falls to $2 million. The smaller the capital requirement, the more pressure you usually put on yield, credit quality, leverage, or payout durability. That is the trade.
Tier One: The Slow Compounding Aristocracy This is the home of Dividend Kings and broad dividend-growth funds, yielding 3% to 4%. Johnson & Johnson (NYSE:JNJ | JNJ Price Prediction) currently yields 2.1% after 64 consecutive years of annual increases, with the most recent payout raised to $1.34 per quarter. Procter & Gamble (NYSE:PG) yields 2.9% with 70 consecutive annual increases on top of unbroken dividend payments since 1890. Coca-Cola (NYSE:KO) yields 2.6% and just lifted its quarterly payout to $0.53.
None of those individually needs to hit 3.5% for the portfolio to work. The tier can reach that range when dividend-growth stocks are blended with higher-yielding utilities, equity-income funds, or other quality income holdings. A blended 3.5% yield growing 7% to 8% annually doubles its income in roughly nine to 10 years without selling a share, if that growth rate persists.
Tier Two: REITs and Regulated Cash Flow Net lease REITs, preferred shares, and high-dividend equity funds live in the 5% to 7% band. Realty Income (NYSE:O), known to shareholders as “The Monthly Dividend Company,” yields 5.2% and has paid 670 consecutive monthly dividends, raising the distribution 114 quarters in a row. The portfolio is 98.9% occupied and recycling capital into new acquisitions at 7.1% initial cash yields.
The cost of admission: dividend growth may be slower than in the best dividend-growth stocks, and share prices can be sensitive to interest rates, tenant quality, lease terms, and capital-market conditions.
Tier Three: High-Yield, High-Friction Income Business development companies, mortgage REITs, and leveraged covered-call funds occupy the 8% to 14% tier. Main Street Capital (NYSE:MAIN), a BDC lending to lower middle-market businesses, yields 6.1% on regular distributions and adds quarterly supplementals (currently $0.30 on top of $0.26 monthly). Less disciplined BDCs and option-income funds reach 10% to 14%, but routinely return capital, cut distributions, or grind principal lower.
Context matters here: the 10-year Treasury recently yielded about 4.4%, and the federal funds target range was 3.50% to 3.75%. Any yield above 8% should be treated as compensation for added risk, whether that risk comes from credit exposure, leverage, duration, option-overwriting drag, or distribution instability.
Avoid This Compounding Trap A 3.5% yield growing 8% a year doubles the income in about nine years. On $5.71 million, that produces about $200,000 today and roughly $400,000 after nine years if the growth rate persists. A 10% flat yield on $2 million produces $200,000 today and, if distributions hold, still $200,000 a decade later, while inflation reduces its purchasing power. Tier one aims for an income stream that grows. Tier three buys more current income with less room for disappointment.
Three Moves Before You Pick a Tier Calculate spending, not salary. A $200,000 lawyer may owe federal, state, payroll, or self-employment taxes, then route more into retirement accounts or debt repayment. Real spending can be much lower than gross compensation, and every dollar removed from the income target lowers the capital requirement. Compare 10-year total return, not yield. Pull the dividend-plus-price return of a dividend-growth ETF against a high-yield income fund over the same period. The smaller stated yield can still win if dividend growth and price appreciation more than offset the lower starting payout.
Map the tax bracket. Qualified dividends from corporations such as J&J, P&G, and Coca-Cola can receive long-term capital-gains tax treatment when IRS holding-period rules are met. REIT and BDC distributions are often taxed largely as ordinary income, although REIT dividends may qualify for the 20% Section 199A deduction. The after-tax yield can matter as much as the headline yield. The Paycheck That Keeps Practicing The goal is not merely matching a lawyer’s salary on day one. It is a portfolio that can keep paying after taxes, inflation, market stress, and the first decade of retirement have all taken their cut. The briefcase eventually goes in the closet. The income stream still has to keep working.
Contact [email protected] for any questions or corrections.
SummaryUnited Rentals (URI) remains rated Hold as Specialty segment margin pressures persist despite strong revenue and industry sentiment.URI’s valuation now trades above historical levels, demanding high-quality margin and cash flow improvements to justify further upside.Second quarter results must demonstrate Specialty margin recovery, lower delivery costs, and improved capital efficiency to warrant a rerating.Management’s raised guidance is only bullish if accompanied by EBITDA and Specialty margin gains, not just revenue from fleet or ancillary growth.Looking for higher risk/reward options trading ideas? I offer this and much more at my exclusive investing ideas service, The Total Pharma Tracker. Learn More » naveebird/iStock via Getty Images
United Rentals (URI) is due to report its second-quarter results in roughly two weeks. In January, I wrote an article on URI where I argued that although Specialty Rentals was its main
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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.
New York, New York--(Newsfile Corp. - July 13, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Hub Group, Inc. ("Hub Group" or the "Company") (NASDAQ: HUBG) on behalf of investors that purchased or otherwise acquired Hub Group securities between April 28, 2023 and May 11, 2026 (the "Class Period").
CLICK HERE TO RECEIVE MORE INFORMATION ABOUT THIS INVESTIGATION
If you are an investor in Hub Group and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than August 28, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On February 5, 2026, Hub Group announced preliminary fourth quarter and full year 2025 results and disclosed the identification of a $77 million accounting error due to "the understatement of purchased transportation costs and accounts payable in the first nine months of 2025." Additionally, the Company said it "plans to restate its financial statements for the first, second and third quarters of 2025," and "is continuing to assess the potential impact to its consolidated financial statements for the years ended December 31, 2024 and 2023."
On this news, the price of Hub Group stock fell $9.37 per share, or 18.25%, to close at $41.96 per share on February 6, 2026.
Then, on May 12, 2026, Hub Group announced that it had "identified certain transactions that were prematurely or incorrectly recognized or not adequately supported," causing its 2023 and 2024 annual reports filed with the SEC to be "materially misstated," such that they "should no longer be relied upon." The Company did not quantify the expected misstatement, although it stated that it "expects to conclude that it did not maintain effective disclosure controls and procedures and internal control over financial reporting for each of the years ended December 31, 2024 and 2023."
On this news, the price of Hub Group stock fell $5.24 per share, about 12.5%, to close at $36.62 per share on May 12, 2026.
The complaint alleges, among other things, that throughout the Class Period, the Company's financial statements contained material misstatements caused by the premature and incorrect recognition of certain transactions and other material misstatements caused by the understatement of purchased transportation costs and accounts payable.
WHY CONTACT KAPLAN FOX?
Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.
Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America-the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act-$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.
For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.
If you have any questions about this Notice, your rights, or your interests, please contact:
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
https://www.kaplanfox.com/case/hub-group-inc/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304706
Source: Kaplan Fox & Kilsheimer LLP
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Strategie carry trade, založená na financování investic v nízkoúročených měnách a investování do výnosnějších aktiv, má podle Goldman Sachs nejlepší podmínky za posledních 25 let.
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, /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) (the "Company" or "Chesapeake Utilities") and its subsidiary, Peninsula Pipeline Company ("PPC"), today announced the Florida Energy Pathway ("FEP"), a new intrastate natural gas infrastructure project in south Florida. This project will be developed, constructed and operated by PPC in order to expand natural gas transportation capacity to address regional supply constraints, enhance system reliability and extend natural gas infrastructure to serve homes and businesses.
FEP is anticipated to be a 24-inch intrastate natural gas pipeline originating in Palm Beach County and terminating in Miami-Dade County. The project is anchored by firm commitments totaling nearly 250,000 dekatherms per day from multiple investment grade shippers. Upstream capacity will be supplied by Florida Gas Transmission in conjunction with its Phase IX expansion. PPC is also accepting binding commitments with additional shippers for firm transportation service.
Total project investment is estimated to be approximately $1.2 billion, pending finalization of design and development activities. The project is anticipated to be in service in 2030, subject to final commissioning. Chesapeake Utilities is evaluating options for financing the project and intends to partner with one or more third parties to invest in and own up to 49% of the total project.
"Florida continues to lead the nation in population and economic growth, which drives increasing energy demand. In the south Florida area, this has led to significant energy supply constraints. Natural gas infrastructure expansions, including the Florida Energy Pathway project, play an important role in enabling regional growth, increasing natural gas capacity and supporting long-term energy independence," said Jeff Householder, Chesapeake Utilities chair of the board, president and chief executive officer.
"Florida Energy Pathway represents a long-term, regulated, organic growth opportunity and aligns strategically with our natural gas transportation expertise, above-average growth expectations and increased presence in south Florida following the acquisition of Florida City Gas. We are excited to bring this project online to serve our customers' needs and deliver energy that strengthens our local economies and communities."
Chesapeake Utilities will discuss this project in further detail and address its long-term capital investment expectations on its second quarter earnings call in August.
About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange. Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions, and other businesses. For more information, visit www.chpk.com.
About Peninsula Pipeline Company
Peninsula Pipeline Company (PPC) is Chesapeake Utilities' intrastate transmission business in Florida. PPC provides transportation service that links interstate pipelines to local distribution systems, industrial customers and power generation facilities. For more information, visit www.peninsula-pipeline.com/.
Forward-Looking Statements
Matters included in this release may include forward-looking statements that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements regarding project investment, timeline and financing. Actual results may differ materially from those in the forward-looking statements due to a number of factors, including uncontrollable authorization and construction impediments. Please refer to the Safe Harbor for Forward-Looking Statements in the Company's 2025 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the first quarter of 2026 for further information on the risks and uncertainties related to the Company's forward-looking statements.
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Philadelphia, Pennsylvania--(Newsfile Corp. - July 13, 2026) - National plaintiffs' law firm Berger Montague PC announces a class action lawsuit against ChampionX Corporation (NASDAQ: CHX) ("ChampionX" or the "Company") on behalf of investors who sold ChampionX common stock during the period from February 29, 2024 through April 1, 2024 (the "Class Period").
Investor Deadline: Investors who sold ChampionX common stock during the Class Period may, no later than July 14, 2026, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.
Prior to its acquisition by SLB in July 2025, ChampionX, headquartered in The Woodlands, TX, was a provider of chemistry solutions and technologies serving the global oil and gas sector.
The Complaint alleges that throughout the Class Period, ChampionX purchased Company shares at artificially depressed prices due to material non-public information. Specifically, defendants allegedly failed to disclose that: (i) ChampionX had received an unsolicited, non-public acquisition offer from SLB; (ii) ChampionX had an obligation to either disclose the offer or abstain from repurchasing its shares; and (iii) while those offers were on the table and unknown to the investing public, ChampionX was repurchasing its common stock at market prices significantly below the prices offered by SLB.
On February 29, 2024, ChampionX received an unsolicited, non-public offer from SLB to acquire all outstanding shares at $36.70 per share. On March 7, 2024, SLB raised its offer to $37.80 per share. During the Class Period, ChampionX's average stock price was $33.32 per share - significantly below the undisclosed offer prices.
On April 2, 2024, during pre-market hours, ChampionX disclosed the merger with SLB. The merger eventually closed on July 16, 2025, with SLB acquiring ChampionX for $40.58 per share.
If you are a ChampionX investor and would like to learn more about this action, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Caitlin Adorni at [email protected] or (267) 764-4865.
About Berger Montague
Berger Montague is one of the nation's preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304886
Source: Berger Montague
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The U.S. nuclear sector is moving beyond discussions about preserving existing reactor capacity. Holtec International (private) recently announced that the restart of a shutdown reactor in Michigan at the Palisades site has reached a “watershed moment,” with major project work closed out and the site transitioning into remaining maintenance, testing, inspections, and operational readiness activities required before startup.
Key Takeaways Holtec’s Palisades restart has moved from major project work into the final stage of activity before startup. Reactor restarts and life extensions are becoming a practical way to add or preserve large volumes of firm, carbon-free power without waiting for new reactor construction. Exposure to utilities and nuclear service providers positions investors to benefit as existing reactor assets become more valuable. This marks an important step for the first attempted restart of a U.S. nuclear plant that had already entered the decommissioning process. The project provides an important proof point for a broader investment theme. Existing nuclear assets are becoming increasingly valuable as utilities, large power customers, and policymakers look for reliable, carbon-free electricity.
That theme directly connects to several public companies tied to the VettaFi Nuclear Renaissance Index (NUKZX), including Constellation Energy (CEG) and PG&E (PCG), along with the broader restart activity developing around NextEra Energy’s (NEE) Duane Arnold project.
Palisades Moves Toward Restart The single, 805-megawatt (MW) boiling water reactor (BWR) at Palisades originally ceased operations in May 2022 after more than 40 years of commercial service. The plant then entered the decommissioning process, before Holtec pursued the unprecedented step of returning the facility to operating status. It is a first-of-a-kind attempt to restart a shuttered nuclear plant.
Holtec’s latest update indicates that the large-scale restart work has largely been completed. The remaining effort now centers on routine maintenance, equipment testing, inspections, and operational readiness. The Palisades BWR has nearly completed the first-ever turnaround from decommissioning to operations.
The restart is also symbolically important, as its success would show that other retired nuclear plants can be returned to service. Under the right mix of economics, regulatory support, technical readiness, and customer demand, restarts would be proven possible.
Public Utilities Are Pursuing Similar Opportunities Constellation Energy (CEG) provides the clearest public-market comparison. The company is working to restart a pressurized water reactor (PWR) in Pennsylvania at the Crane Clean Energy Center. Constellation announced a 20-year power purchase agreement with Microsoft Corp (MSFT) to support the project, which could bring the plant online by 2027.
See more: NUKZ Holding Constellation Injects Millions Into Local Economies
The Crane restart shows how large technology customers can help make nuclear restart projects financeable. Microsoft needs reliable clean power to support its growing electricity demand. Constellation owns a retired nuclear asset with an established operating record. The result is a structure that links data center growth directly to existing nuclear infrastructure.
NextEra Energy (NEE) is pursuing a similar strategy with the Duane Arnold Energy Center in Iowa. The plant shut down in 2020, but NextEra and Google (GOOG) have announced a 25-year agreement tied to restarting the facility. Duane Arnold’s return is expected in 2029 to provide more than 600 MW of nuclear energy to support cloud and AI infrastructure.
PG&E’s (PCG) Diablo Canyon is slightly different because the plant never shut down. Still, it belongs in the same broader category of preserving existing nuclear capacity. Diablo Canyon had been scheduled for retirement, but California moved to keep the plant operating through 2030. The NRC has approved renewed operating licenses that could allow the units to run into the 2040s if California lawmakers authorize operation beyond 2030.
Together, these projects show that the nuclear opportunity is not limited to new construction. The U.S. is also trying to preserve, extend, and recover nuclear capacity that already exists.
Implications for Investors and the Nuclear Value Chain Reactor restarts create a different investment profile than new reactor development. They are not pre-revenue technology bets in the same way as some advanced reactor companies. They are infrastructure recovery projects tied to existing assets, experienced operators, and large power customers.
NUKZX includes utilities, such as Constellation Energy and PG&E, tied to the broader theme of recovering or preserving nuclear generation. NUKZX serves as the underlying index for the Range Nuclear Renaissance Index ETF (NUKZ).
The nuclear renaissance will likely unfold across multiple timelines. Advanced reactor developers may offer long-term upside, but existing reactor assets can create nearer-term opportunities. Restarts and life extensions can support electricity demand, provide revenue visibility through power purchase agreements, and increase the value of experienced nuclear operators.
The broader value chain also benefits. Restarting a nuclear plant requires engineering work, inspections, component replacements, instrumentation, maintenance, licensing support, and operational services. These activities can create opportunities for established public companies long before any new reactor reaches commercial operation.
NUKZX offers diversified exposure to this theme by combining utilities, construction and services firms, component suppliers, and fuel-related companies across the nuclear value chain.
Related Research: DOE’s $17.5B Loan Boosts Nuclear Supply Chain
Critical Momentum: The Nuclear Renaissance Heats Up
Microreactors Reach Milestones & Retailers Go Nuclear
Looking for nuclear insights in your inbox? Subscribe here to keep a pulse on nuclear investing through our weekly research.
For more news, information, and analysis, visit the Nuclear Energy Content Hub.
vettafi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for NUKZ, for which it receives an index licensing fee. However, NUKZ is not issued, sponsored, endorsed, or sold by VettaFi. VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of NUKZ.
, /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Commvault Systems, Inc. (NASDAQ: CVLT) securities between April 29, 2025 and January 26, 2026, both dates inclusive (the "Class Period"), have until Friday, July 17, 2026 to seek appointment as lead plaintiff of the Commvault class action lawsuit. Captioned Imbert v. Commvault Systems, Inc., No. 26-cv-05654 (D.N.J.), the Commvault class action lawsuit charges Commvault as well as certain of Commvault's current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Commvault class action lawsuit, please provide your information here:
You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at [email protected].
CASE ALLEGATIONS: Commvault provides cyber resiliency solutions for enterprises to protect, secure, and recover data, applications, and identity systems.
The Commvault class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants created the false impression that Commvault's annualized recurring revenue ("ARR") growth would remain steady throughout fiscal year 2026; (ii) Commvault knew or recklessly disregarded the impact that different types of sales would have on its ARR growth; and (iii) the variation in net ARR growth is strongly based on the type of sale Commvault is making, thus, Commvault's projected net new ARR should not have been determined without properly factoring in sale type.
The Commvault class action lawsuit further alleges that on January 27, 2026, Commvault released its third quarter 2026 financial results, revealing net new ARR of $39 million, below Commvault's previously guided $45 million. On this news, the price of Commvault stock fell more than 31%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Commvault securities during the Class Period to seek appointment as lead plaintiff in the Commvault class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Commvault class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Commvault class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Commvault class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
Promotion reflects the Company's continued investment in product leadership
ORLANDO, FL / ACCESS Newswire / July 13, 2026 / Unusual Machines, Inc. (NYSE American:UMAC), a leading manufacturer of NDAA-compliant drone components, today announced the promotion of Tyler Crane to Vice President of Product.
In his new role, Crane will lead product strategy across the Company's growing lineup of drone components, working closely with engineering, manufacturing, commercial teams, and customers to develop high-performance products that meet evolving customer requirements across our markets.
Crane has played a central role in shaping the Company's product roadmap and expanding its portfolio, helping bring the Aura camera line, Aura VTX, Brave F7 flight controller, Brave 55A electronic speed controller, motors, and other critical drone components to market. His experience leading products from concept through commercialization, while working directly alongside customers, pilots, engineers, and manufacturing teams, gives him a rare operational perspective that keeps customer requirements at the center of every product decision.
"Tyler has earned the trust of our customers and our team through years of hands-on experience across nearly every part of our business. He has a unique ability to translate customer feedback into products that deliver the performance our customers depend on. His leadership will help strengthen that connection as we continue to grow," said Drew Camden, President and Chief Operating Officer of Unusual Machines.
"The best product decisions start by understanding the customer's mission. My focus is on building the right products, solving real problems, and earning our customers' trust by listening first. I'm excited to help lead an exceptional team as we continue expanding our product portfolio and supporting our customers' success," said Tyler Crane.
As Unusual Machines continues to scale its domestic manufacturing operations and expand its portfolio of NDAA-compliant and Blue UAS Framework components, the Company is strengthening its product organization to strive to ensure that customer insights remain central to everything it brings to market.
About Unusual Machines, Inc.
Unusual Machines manufactures and sells drone components and drones across a diversified brand portfolio, which includes Fat Shark, the leader in FPV (first-person view) ultra-low latency video goggles for drone pilots. The Company also retails small, acrobatic FPV drones and equipment directly to consumers through the curated Rotor Riot ecommerce store. With a changing regulatory environment, Unusual Machines seeks to be a dominant Tier-1 parts supplier to the fast-growing multi-billion-dollar U.S. drone industry. According to Fact.MR, the global drone accessories market is currently valued at $17.5 billion and is set to top $115 billion by 2032. For more information, please visit unusualmachines.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the Company's expectation to continue to scale its domestic manufacturing operations and expand its portfolio of NDAA-compliant and Blue UAS Framework components and strive to ensure its customers' insights. Forward-looking statements are often identifiable by the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "objective," "ongoing," "plan," "predict," "project," "potential," "should," "will," or "would," or the negative of these terms, or other comparable terminology intended to identify statements about the future. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although the Company believes that it has a reasonable basis for making each forward-looking statement contained in this press release, the Company cautions that these statements are based on a combination of facts and factors currently known by the Company and its expectations of the future, about which the Company cannot be certain. Forward-looking statements are subject to considerable risks and uncertainties, as well as other factors that may cause the Company's actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: our reliance on third parties to deliver parts needed to manufacture our drone components; risks related to inventory management and potential obsolescence; uncertainty regarding government procurement programs and timelines; risks associated with our rapid expansion, the meeting of closing conditions and the various risk factors relating to manufacturing and other risks described within the section entitled "Risk Factors" in the Company's 2025 Annual Report on Form 10-K and in our Prospectus filed with the Securities and Exchange Commission on March 20, 2026. The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances, except as required by law.
, /PRNewswire/ -- InMode Ltd. (NASDAQ: INMD), a leading global provider of innovative medical technologies, announced today that it expects to release its financial results for the second quarter of 2026 before the Nasdaq market opens on Wednesday, August 5, 2026.
InMode is currently finalizing its financial results for the second quarter of 2026. While complete financial information and operating data are not yet available, set forth below are certain preliminary results such period, subject to final adjustments and other developments that may arise between now and the time such financial results are finalized. Based on preliminary results, management expects:
Revenue for the second quarter of 2026 to be in the range of $95.2 million to $95.4 million Full year 2026 revenue to be in the range of $365 million to $375 million As the Company's Special Committee continues its evaluation of strategic proposals, the Company will not host an investor conference call or webcast in connection with this earnings release and will not be conducting investor meetings at this time.
About InMode
InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures, and markets devices harnessing novel radio frequency ("RF") technology. InMode strives to enable emerging surgical procedures as well as improve existing treatments. InMode has leveraged its medically accepted minimally invasive RF technologies to offer a comprehensive line of products across several categories for plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology. For more information about InMode, please visit www.inmodemd.com.
Forward-Looking Statements
The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or InMode's future financial or operating performance. Actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. In some cases, you can identify these statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions that concern our expectations, strategic plans or intentions. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Consequently, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in InMode's Annual Report on Form 20-F filed with the Securities and Exchange Commission on February 10, 2026, and our subsequent public filings. InMode undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which pertain only as of the date of this press release.
HONOLULU and CHICO, Calif., July 13, 2026 (GLOBE NEWSWIRE) -- First Hawaiian, Inc. (NASDAQ: FHB) ("First Hawaiian"), parent company of First Hawaiian Bank, and TriCo Bancshares (NASDAQ: TCBK) ("TriCo"), parent company of Tri Counties Bank, today announced they have entered into a definitive agreement pursuant to which First Hawaiian will acquire TriCo in an all-stock transaction.
This partnership combines two culturally aligned, relationship-driven banking franchises with attractive deposit bases, disciplined credit cultures and deep local market positions. On a combined basis, the company will have approximately $34 billion of assets and be the 6th largest bank headquartered in the Western U.S. This partnership will increase First Hawaiian’s presence on the mainland and offer customers the full suite of banking capabilities and expand the combined bank’s market areas to include a more diverse geography. The combined bank is expected to leverage its strong capital position, liquidity profile and credit quality to deliver enhanced earnings and generate long-term value to shareholders.
“This partnership creates a broader platform for long-term growth,” said Bob Harrison, Chairman, President and CEO of First Hawaiian. “TriCo is an ideal partner to execute this next phase of our growth: a well-managed, relationship-focused bank in California with a strong deposit franchise, disciplined credit culture, experienced local leadership and deep commitment to its communities. Together, we will preserve what has made both companies successful while creating a stronger and more diversified bank. I could not be more excited to partner with TriCo.”
“TriCo has built its franchise around long-term customer relationships, local decision-making and a commitment to the communities we serve,” said Rick Smith, Chairman, President and CEO of TriCo. “First Hawaiian shares those values and brings the scale, capital strength and broader product capabilities to help us do even more for our customers and communities. We are excited for our employees and shareholders to participate in the future of the combined company, and we look forward to working closely with Bob and the First Hawaiian team.”
Pursuant to the terms of the agreement, TriCo’s shareholders will receive 2.095 First Hawaiian shares for each TriCo share, representing $63.12 per share as of First Hawaiian’s closing stock price on July 10, 2026. Upon closing of the transaction, First Hawaiian and TriCo shareholders are expected to own approximately 65% and 35%, respectively, of the combined company. Four current TriCo directors, including Rick Smith, will join the First Hawaiian and First Hawaiian Bank Boards of Directors, with the remaining three to be mutually agreed upon by First Hawaiian and TriCo prior to the closing. To ensure business and client continuity, leadership will include representation from both organizations and First Hawaiian will retain Tri Counties Bank branding on the mainland. There are no expected branch closings associated with the transaction and TriCo’s commitment to its communities is not expected to change.
The Boards of Directors of First Hawaiian and TriCo unanimously approved the definitive agreement and the parties expect to close the transaction by the end of 2026, subject to the receipt of required regulatory approvals, approval by First Hawaiian and TriCo shareholders and the satisfaction of customary closing conditions.
Second Quarter 2026 Financial Highlights
The announcement precedes First Hawaiian’s release of its financial results for the second quarter ended June 30, 2026. The following are key highlights of the results the company expects to report on July 24, 2026:
Continued earnings growth, with net income of $73.4 million and diluted EPS of $0.60, compared to net income of $67.8 million and diluted EPS of $0.55 in the prior quarterCost of deposits improved 2 basis points to 1.20% from 1.22% in the prior quarterNet interest margin expanded by 6 bps QoQ to 3.25%Return on average assets improved to 1.23%, up 9 bps from 1.14% in the prior quarterReturn on average tangible common equity of 16.3%, compared to 15.3% in the prior quarter*Gross loans increased to $14.6 billion, compared to $14.4 billion in the prior quarterBook value per share increased to $23.22, up from $22.75 in the prior quarterTangible book value per share of $15.04, reflecting 3% QoQ growth* * Return on average tangible common equity and tangible book value per share are non-GAAP financial measures. Refer to the appendix to the investor presentation furnished by FHI as an exhibit to Form 8-K with the U.S. Securities and Exchange Commission on the date of this release for further information, including a reconciliation of those measures to the comparable GAAP measurements.
These preliminary results are estimates based on information available to management of FHI as of the date of this release and are subject to change upon completion of FHI's standard closing procedures and review by its independent registered public accounting firm. As a result, there can be no assurance that FHI's final results will not differ from these preliminary estimates.
Advisors
Evercore served as financial advisor and Sullivan & Cromwell LLP served as legal counsel to First Hawaiian.
Keefe, Bruyette & Woods, A Stifel Company served as financial advisor and Holland & Knight LLP served as legal counsel to TriCo.
Conference Call Information
First Hawaiian and TriCo will host a conference call today to discuss the transaction at 8:30 a.m. Eastern Time, 5:30 a.m. Pacific Time and 2:30 a.m. Hawaii Time.
To access the call by phone, please register via the following link: https://register-conf.media-server.com/register/BI2891c10b1f314068b969f7a768bfea65, and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.
A live webcast of the conference call, including a slide presentation, will be available at the following link: https://edge.media-server.com/mmc/p/zk2u4mjj. The archive of the webcast will be available at the same location.
First Hawaiian, Inc.
First Hawaiian, Inc. (NASDAQ: FHB) is a bank holding company headquartered in Honolulu, Hawaii. Its principal subsidiary, First Hawaiian Bank, founded in 1858 under the name Bishop & Company, is Hawaii’s oldest and largest financial institution with branch locations throughout Hawaii, Guam and Saipan. The company offers a comprehensive suite of banking services to consumer and commercial customers including deposit products, loans, wealth management, insurance, trust, retirement planning, credit card and merchant processing services. Customers may also access their accounts through ATMs, online and mobile banking channels. For more information about First Hawaiian, Inc., visit the Company’s website, www.fhb.com.
TriCo Bancshares
Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ: TCBK) headquartered in Chico, California, providing services in traditional stand-alone and in-store bank branches and loan production offices in communities throughout California. Tri Counties Bank provides an extensive and competitive breadth of consumer, small business and commercial banking financial services, along with convenient around-the-clock ATMs, online and mobile banking access. Brokerage services are provided by Tri Counties Advisors through affiliation with Raymond James Financial Services, Inc. Visit www.TriCountiesBank.com to learn more.
Forward-Looking Statements
This communication may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among others, statements regarding the expected timing, completion and effects of the proposed business combination transaction between First Hawaiian, Inc. (“FHI”) and TriCo Bancshares (“TriCo”) (the “Transaction”), and the plans, objectives, expectations and intentions of FHI and TriCo. Any statement that does not describe historical or current facts is a forward-looking statement. Forward-looking statements are often, but not always, made through the use of words or phrases such as “annualized,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “might,” “outlook,” “plan,” “potential,” “predict,” “projection,” “seek,” “should,” “target,” “will,” “would” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature.
FHI and TriCo caution that the forward-looking statements in this communication are not guarantees of future performance and involve a number of known and unknown risks, uncertainties and assumptions that are difficult to assess and are subject to change based on factors which are, in many instances, beyond FHI’s and TriCo’s control. A number of important factors could cause actual results to differ materially from those indicated in these forward-looking statements, including the following: changes in general economic, political, or industry conditions, and in conditions impacting the banking industry specifically; uncertainty in U.S. fiscal, monetary and trade policy, including the interest rate policies of the Federal Reserve Board or the effects of any declines in housing and commercial real estate prices, high or increasing unemployment rates, continued or renewed inflation, the impact of proposed or imposed tariffs by the U.S. government or retaliatory tariffs proposed or imposed by U.S. trading partners that could have an adverse impact on customers or any recession or slowdown in economic growth particularly in the markets in which FHI and TriCo conduct business, including Hawaii, Guam, Saipan and California; volatility and disruptions in global capital and credit markets; the impact of bank failures or adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks; changes in interest rates that could significantly reduce net interest income and negatively affect asset yields and valuations and funding sources, including impacts on prepayment speeds; competitive pressures among financial institutions and nontraditional providers of financial services, including on product pricing and services; concentrations within FHI’s or TriCo’s loan portfolio (including commercial real estate loans) or other asset classes, and the parties’ ability to attract and retain customer deposits, large loans to certain borrowers, access liquidity and capital, and manage deposit costs and funding sources; the success, impact, and timing of FHI’s and TriCo’s respective business strategies, including market acceptance of any new products or services and FHI’s and TriCo’s ability to successfully implement strategic, operational, technology and integration initiatives; the failure to properly use and protect customer and employee information and data; cybersecurity risks, including the occurrence of fraudulent activity or a material breach of, or disruption to, the security of FHI’s, TriCo’s or their vendors’ systems; risks related to the development, implementation, use and management of artificial intelligence and other emerging technologies; the effects of failures or interruptions of information, communications or third-party service-provider systems; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations; changes in laws or regulations; adverse weather conditions, natural disasters and other catastrophic events such as wildfires; the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement to which FHI and TriCo are parties; the outcome of any legal proceedings that may be instituted against FHI or TriCo, including potential litigation relating to the Transaction; delays in completing the Transaction; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Transaction); the failure to obtain stockholder or shareholder approvals, as applicable, or to satisfy any of the other conditions to the closing of the Transaction on a timely basis or at all; changes in FHI’s or TriCo’s share price before closing, including as a result of the financial performance of the other party prior to closing, or more generally due to broader stock market movements, and the performance of financial companies and peer group companies; the possibility that the anticipated benefits of the Transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where FHI and TriCo do business; certain restrictions during the pendency of the proposed Transaction that may impact the parties’ ability to pursue certain business opportunities or strategic Transactions; the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the Transaction; the ability to complete the Transaction and integration of FHI and TriCo promptly and successfully; the dilution caused by FHI’s issuance of additional shares of its capital stock in connection with the Transaction; and other factors that may affect the future results of FHI and TriCo.
The foregoing factors should not be considered an exhaustive list and should be read together with the other cautionary statements set forth in FHI’s Annual Report on Form 10-K for the year ended December 31, 2025 and its latest Quarterly Report on Form 10-Q, which are on file with the Securities and Exchange Commission (the “SEC”) and available on FHI’s investor relations website, https://ir.fhb.com, under the heading “SEC Filings,” and in other documents FHI files with the SEC, and in TriCo’s Annual Report on Form 10-K for the year ended December 31, 2025 and its latest Quarterly Report on Form 10-Q, which are on file with the SEC and available on TriCo’s website, www.tcbk.com, under the “About” tab and the “Investor Relations” link and then under the heading “SEC Filings” and in other documents TriCo files with the SEC. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. Accordingly, you should not place undue reliance on any such forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and neither FHI nor TriCo undertakes any obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law.
Important Additional Information and Where to Find It
In connection with the proposed Transaction, FHI will file with the SEC a Registration Statement on Form S-4 that will include a Joint Proxy Statement of FHI and TriCo and a Prospectus of FHI, as well as other relevant documents concerning the Transaction. Certain matters in respect of the Transaction involving FHI and TriCo will be submitted to FHI’s stockholders and TriCo’s shareholders, as applicable, for their consideration.
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. INVESTORS, FHI STOCKHOLDERS AND TRICO SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE TRANSACTION WHEN THEY BECOME AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Stockholders or shareholders, as applicable, will be able to obtain a free copy of the definitive joint proxy statement/prospectus, as well as other filings containing information about the Transaction, FHI and TriCo, without charge, at the SEC’s website, www.sec.gov. Copies of the joint proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the joint proxy statement/prospectus can also be obtained, without charge, by directing a request to First Hawaiian, Inc., Attention: Secretary, 999 Bishop Street, Honolulu, HI 96813, (808) 525-7000 or to TriCo Bancshares, Attention: Shareholder Services, 63 Constitution Drive, Chico, CA 95973, (530) 898-0300.
Participants in the Solicitation
FHI, TriCo, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from FHI stockholders or TriCo shareholders in connection with the Transaction under the rules of the SEC. Information regarding FHI's directors and executive officers is available in the sections entitled “Directors, Executive Officers and Corporate Governance” and “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” in FHI's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the SEC on February 27, 2026 (available at https://www.sec.gov/ix?doc=/Archives/edgar/data/36377/000110465926021544/fhb-20251231x10k.htm); in the sections entitled “Corporate Governance and Board Matters,” “Compensation Discussion and Analysis,” “Executive Compensation Tables,” “Biographies of Executive Officers” and “Security Ownership of Certain Beneficial Owners, Directors and Management” in FHI's definitive proxy statement relating to its 2026 Annual Meeting of Stockholders, which was filed with the SEC on March 12, 2026 (available at https://www.sec.gov/ix?doc=/Archives/edgar/data/36377/000110465926026700/tm2532317-1_def14a.htm); and other documents filed by FHI with the SEC. Information regarding TriCo's directors and executive officers is available in the sections entitled “Directors, Executive Officers and Corporate Governance” and “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters;” in TriCo's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the SEC on March 2, 2026 (available at https://www.sec.gov/ix?doc=/Archives/edgar/data/356171/000035617126000010/tcbk-20251231.htm); in the sections entitled “Board of Directors,” “Corporate Governance, Board Nominations and Board Committees,” “Compensation of Directors,” “Ownership of Voting Securities,” “Compensation Discussion and Analysis” and “Compensation of Named Executive Officers” in TriCo's definitive proxy statement relating to its 2026 Annual Meeting of Shareholders, which was filed with the SEC on April 17, 2026 (available at https://www.sec.gov/ix?doc=/Archives/edgar/data/356171/000035617126000033/tcbk-20260417.htm); and other documents filed by TriCo with the SEC. To the extent holdings of FHI common stock by the directors and executive officers of FHI or holdings of TriCo common stock by directors and executive officers of TriCo have changed from the amounts held by such persons as reflected in the documents described above, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus relating to the Transaction. Free copies of this document, when available, may be obtained as described in the preceding paragraph.
Contacts
First Hawaiian Investor Relations: Kevin Haseyama, CFA, (808) 525-6268, [email protected]
First Hawaiian Media Relations: Bill Weeshoff, (808) 525-6229, [email protected]
TriCo Investor Contact: Peter G. Wiese, (530) 898-0300 [email protected]
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