Track market-moving stories before they get noisy

Key Takeaways Cadence expects Q3 revenues of $1.595-$1.625 billion and non-GAAP EPS of $2.01-$2.07, driven by AI demand.Growing adoption of agentic AI tools and robust demand across EDA, IP and SDA are likely to support growth.CDNS benefits from strong backlog, though macro uncertainty and U.S.-China tensions remain concerns. Cadence Design Systems, Inc. (CDNS - Free Report) will release results for the third quarter of 2026 on Oct. 26.

The Zacks Consensus Estimate for third-quarter earnings is $2.04 per share, unchanged in the past 60 days. The consensus mark implies a 5.7% increase from the year-ago actual. The Zacks Consensus Estimate for revenues is pinned at $1.61 billion, indicating a nearly 20.3% uptick from the year-ago actual.

Management expects revenues to be $1.595-$1.625 billion for the third quarter. The company reported sales of $1.339 billion in the year-ago quarter. Non-GAAP EPS is anticipated to be between $2.01 and $2.07. The company reported an EPS of $1.93 in the year-ago quarter. 

Cadence has an impressive earnings surprise history. The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 4.94%.

Price Performance
Image Source: Zacks Investment Research

CDNS stock has lost 7% in the past six months against the Computer-Software industry’s growth of 16.6%. The S&P 500 composite and the Zacks Computer and Technology sector have risen 7.5% and 8.6%, respectively, in the same time frame.

Factors Shaping CDNS’ Q3 ResultsBroad-based momentum across electronic design automation (“EDA”), IP and System Design & Analysis (“SDA”), supported by sustained demand for its AI-oriented portfolio amid robust design activity and new system architectures across hyperscaler infrastructure and physical AI, remains the key catalyst.  

The company had a backlog of $8.1 billion at the second quarter-end driven by bookings momentum, while revenues expected to be recognized over the following 12 months from remaining performance obligations totaled $4.2 billion. This provides substantial visibility into future business performance. Cadence’s ratable software model and high mix of recurring revenues are other positives.

AI has been driving a major transformation in semiconductor and system design and Cadence is deeply integrated into this shift. Design activity across several verticals, especially data centers, drones, robotics and automotive, has been robust due to AI, hyperscale computing and 5G. The focus on Generative AI, Agentic AI and Physical AI has been leading to an exponential increase in computing demand and semiconductor innovation.

Rising customer R&D investments in AI-driven automation have been creating a favorable demand environment for Cadence.

On the last earnings call, management cited agentic AI as a durable tailwind. Cadence expects agentic tools to drive higher EDA consumption and usage across its platform as customers run more simulations, verification and implementation cycles, thereby expanding the addressable market. Management highlighted “strong early traction” for its AI Super-Agent portfolio.

Cadence's agentic AI portfolio includes ChipStack, ViraStack, and InnoStack. In September, the company introduced an RTL Generation Agent for its ChipStack AI Super Agent. The expanded capabilities, expected to become available to select early-access customers in the fourth quarter, strengthen the company's longer-term AI-driven growth prospects.

The company has been collaborating with several tech giants, including Qualcomm and NVIDIA, on their next-generation AI designs across both training and inference. Expanding partnerships with Samsung, Taiwan Semiconductor Manufacturing, Intel and Arm Holdings, bodes well.

Cadence expanded its collaboration with TSMC in September, securing tool certification for advanced A14 design tools and introducing additional silicon-proven IP for N3P and N2P technologies. In October, Cadence collaborated with NVIDIA and launched Europe's first sovereign AI platform for semiconductor, system and AI factory design.

Nonetheless, ongoing uncertainty prevailing over global macroeconomic conditions, especially U.S.-China tech tensions, along with stiff competition in the EDA space and inflation, remains a concern ahead of the third-quarter earnings. Management expects third-quarter non-GAAP operating margin between 43.5% and 44.5%, compared with 47.6% in the prior-year quarter. 

A Look at SegmentsCore EDA business (which constitutes Custom IC, Digital IC and Functional Verification businesses) is likely to have gained from demand for the new hardware systems, especially among AI, automotive and high-performance computing clients. Continued adoption of Cadence's digital full-flow solutions, including Tempus and Certus signoff technologies, is likely to have cushioned the segment’s performance.

The SDA division is likely to have gained from the increasing demand for BETA CAE solutions, PCB and advanced packaging solutions and the integration of Hexagon's Design and Engineering business. Growing adoption of the AuraStack AI Super Agent, which automates PCB and advanced packaging design workflows, could further strengthen the division's prospects.

The IP business has been gaining from an expanding silicon solutions portfolio and increasing demand for solutions in AI and HPC use cases. The company has been witnessing higher demand for its Star IP portfolio across AI and HPC applications, including HBM, PCIe, UCIe and LPDDR6.

Earnings Whispers for CDNSOur proven model predicts an earnings beat for Cadence this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is exactly the case here.

CDNS currently has a Zacks Rank #2 and an Earnings ESP of +0.91%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Other Stocks to ConsiderHere are a few other stocks 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 season.

Seagate Technology Holdings plc (STX - Free Report) has an Earnings ESP of +2.49% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

STX is scheduled to report quarterly figures on Oct. 27, 2026. The Zacks Consensus Estimate for Seagate Technology’s to-be-reported quarter’s earnings and revenues is pinned at $7.40 per share and $4.11 billion, respectively. Shares of Seagate Technology are up 162.8% in the past year.

Intel (INTC - Free Report) currently has an Earnings ESP of +2.22% and a Zacks Rank #2. INTC is scheduled to report quarterly earnings on Oct. 29, 2026. The Zacks Consensus Estimate for Intel’s to-be-reported quarter’s earnings and revenues stands at 39 cents per share and $16.44 billion, respectively. Shares of Intel have gained 123.4% in the past year.

Vertiv (VRT - Free Report) has an Earnings ESP of +0.89% and a Zacks Rank #2 at present. The company is scheduled to report quarterly figures on Oct. 28, 2026. The Zacks Consensus Estimate for Vertiv’s to-be-reported quarter’s earnings and revenues is pinned at $1.82 per share and $3.76 billion, respectively. Shares of Vertiv are up 5.2% in the past year. 

It has been about a month since the last earnings report for Paychex (PAYX - Free Report) . Shares have added about 17% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Paychex due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.

Paychex's Q1 Earnings Beat EstimatesPaychex has reported an impressive first quarter of fiscal 2027, wherein earnings and revenues beat the Zacks Consensus Estimate.

PAYX has registered adjusted earnings of $1.34 per share, rising 9.8% year over year and beating the Zacks Consensus Estimate of $1.33 by a slight margin. Total revenues rose 5.9% to $1.63 billion, topping the consensus mark of $1.62 billion by a small margin.

The quarter benefited from higher revenue per client, stronger PEO worksite employee growth and increased PEO insurance volumes. PEO and Insurance Solutions remained the standout growth area, while the adjusted operating margin also expanded from the year-ago period.

PAYX's Management Solutions Revenues Rise 4%Management Solutions revenues increased 4% year over year to $1.21 billion in the fiscal first quarter. Growth was driven by higher revenues per client, reflecting price realization and greater product penetration.

The business remained Paychex's largest revenue contributor. Total service revenues advanced 6% year over year to $1.58 billion, supported by growth across Management Solutions and PEO and Insurance Solutions.

Paychex's PEO & Insurance Revenues Jump 12%Professional Employer Organization and Insurance Solutions revenues climbed 12% year over year to $367.6 million. Growth primarily reflected an increase in average PEO worksite employees and higher PEO insurance volumes.

Interest on funds held for clients increased 5% year over year to $49.8 million, aided by higher average interest rates. The improvement provided another source of revenue growth, alongside the company's payroll, human resources and benefit offerings.

PAYX's Margin Expansion Supports Profit GrowthTotal expenses increased 1% year over year to $1.01 billion, slower than revenue growth. Cost of service revenues rose 4% to $430.1 million, while selling, general and administrative expenses declined 1% to $581.2 million.

Operating income increased 14% to $619.2 million, lifting the operating margin to 38% from 35.2%. Adjusted operating income rose 9% to $684.7 million, while the adjusted operating margin improved to 42% from 40.7%.

Paychex's Net Income Rises as Acquisition Costs EaseNet income advanced 12% year over year to $429.7 million, while GAAP earnings increased 14% to $1.21 per share. Adjusted net income grew 9% to $479.2 million.

Acquisition-related costs declined to $65.5 million from $84.8 million a year earlier. The latest-quarter amount included $56.9 million of amortization tied to the Paycor acquisition, $8.5 million of acquisition and integration compensation costs, and $0.1 million of other acquisition-related costs.

PAYX's Cash Flow & Balance Sheet Stay in FocusCash flow from operations declined 42.4% year over year to $413.5 million. Paychex paid out $424.1 million in dividends, or $1.19 per share, during the fiscal first quarter.

As of Aug. 31, 2026, cash, restricted cash and total corporate investments stood at $1 billion. Long-term borrowings, net of debt issuance costs, were $4.6 billion, while total assets were $15.66 billion.

Paychex Advances WISE AI CapabilitiesPAYX continued to expand its WISE artificial intelligence platform and launched WISE Hire, an agentic recruiting solution. The company is embedding AI-enabled automation and insights across its human capital management platforms to support productivity and client outcomes.

Management also highlighted efforts to make WISE capabilities available within Microsoft business applications, wherein clients already work. The company views the broader deployment as part of its strategy to combine technology with advisory expertise across payroll, human resources and benefits.

PAYX Raises PEO & Client Funds OutlookFor fiscal 2027, Paychex continues to expect total revenue growth of 5-6% and Management Solutions revenue growth of 5-6%. It also maintained its adjusted operating margin forecast of about 44% and adjusted earnings growth outlook of 7-9%.

Management raised its PEO and Insurance Solutions revenue growth forecast to 7-8% from 6-7%. Interest on funds held for clients is expected to be $200-$210 million, up from the prior mentioned $195-$205 million. The effective income tax rate forecast remains about 24%.

Adjusted earnings of 99 cents per share beat the Zacks Consensus Estimate by 4.2% and increased 8.8% on a year-over-year basis. Total revenues of $1.2 billion also beat the Zacks Consensus Estimate by 0.5% and increased 7.4% year over year.

Revenues in Detail     

Revenues from Management Solutions segment increased 8% year over year to $895.3 million. The segment benefited from growth in the number of client employees served for human capital management (HCM) and additional worksite employees for HR Solutions. Also, improved revenue per client on price realization and higher product penetration, strong demand for HR Solutions, retirement, time and attendance solutions and expansion of HCM ancillary services acted as tailwinds.

Professional employer organization (“PEO”) and Insurance Solutions’ revenues were $273.3 million, up 4% from the year-ago quarter’s level. The uptick was owing to growth in the number of average worksite employees. Interest on funds held for clients increased 54% year over year to $21.7 million.

Operating Performance

Operating income increased 7% year over year to $472.3 million. EBITDA of $518.6 million increased 4.7% year over year.

Balance Sheet & Cash Flow

Paychex exited second-quarter fiscal 2022 with cash and cash equivalents of $1.1 billion compared with $1.18 billion reported at the end of the prior quarter. Long-term debt was $797.9 million compared with $797.8 million in the prior quarter. Cash provided by operating activities was $321.6 million in the reported quarter. During the reported quarter, PAYX paid out $284.7 million as dividends.

Fiscal 2023 View Tweaked

Paychex upped its adjusted earnings per share view with respect to year-over-year growth for fiscal 2023. Adjusted EPS is now expected to register 12-14% growth compared with the prior expectation of 11-12% growth. PAYX continues to expect total revenues to register 8% (prior view: 7-8%) growth. Management Solutions’ revenues are expected to grow 7-8% (prior view: 5-7%). PEO and Insurance Solutions’ revenues are expected to grow 5-7% (prior view: 8-10%).

How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.

VGM ScoresAt this time, Paychex has a subpar Growth Score of D, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a grade of C on the value side, putting it in the middle 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Paychex has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Paylocity (PCTY - Free Report) , which belongs to the Zacks Internet - Software industry, could be a great candidate to consider.

When looking at the last two reports, this provider of cloud-based payroll and human-resources software services has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 19.21%, on average, in the last two quarters.

For the last reported quarter, Paylocity came out with earnings of $1.84 per share versus the Zacks Consensus Estimate of $1.54 per share, representing a surprise of 19.48%. For the previous quarter, the company was expected to post earnings of $2.43 per share and it actually produced earnings of $2.89 per share, delivering a surprise of 18.93%.

Price and EPS Surprise

With this earnings history in mind, recent estimates have been moving higher for Paylocity. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Paylocity has an Earnings ESP of +2.07% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on November 5, 2026.

With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Key Takeaways F5 forecasts Q4 fiscal 2026 revenues of $870-$890 million, suggesting top-line growth of 9%.Systems demand may benefit from data center expansion, AI workloads and infrastructure modernization.F5's Earnings ESP of 0.00% and Zacks Rank #3 do not signal a likely earnings beat under its model.
F5 Inc. (FFIV - Free Report) is scheduled to report fourth-quarter fiscal 2026 results on Oct. 27, after market close.

For the fourth quarter of fiscal 2026, F5 projects non-GAAP earnings per share (EPS) in the range of $4.14-$4.26 (midpoint of $4.20). The Zacks Consensus Estimate for the same is pegged at $4.24, suggesting a year-over-year decline of 3.2%. The figure has remained unchanged for the past 60 days.

FFIV’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average earnings surprise of 16.09%.

FFIV projects its fourth-quarter fiscal 2026 non-GAAP revenues in the range of $870-$890 million. The Zacks Consensus Estimate for the same is pegged at $884.4 million, suggesting year-over-year growth of 9.2%.

Factors to Consider for F5 StockF5’s performance in the fiscal fourth quarter is likely to have benefited from sustained demand for its application delivery and security solutions as enterprises continue to modernize their IT infrastructure and adopt hybrid and multi-cloud architectures. The rising need to distribute workloads across on-premises data centers and cloud environments is expected to support demand for F5’s flexible application delivery offerings. Increasing AI adoption and the need to manage data-intensive workloads could further strengthen this trend.

Demand for F5’s Systems products is expected to have remained a key contributor to product performance in the to-be-reported quarter. Customers are increasingly investing in higher-performance infrastructure to support expanding data-center capacity, improve application availability and prepare their environments for AI workloads. Ongoing infrastructure modernization, workload repatriation and platform consolidation initiatives are likely to have supported demand for the company’s BIG-IP offerings. However, the sustainability of hardware demand beyond customer refresh cycles remains an important factor to watch.

The Software segment is likely to have benefited from continued traction in subscription-based offerings, including BIG-IP and NGINX. Enterprises seeking to improve application performance, automate network operations and strengthen security across distributed environments are expected to have favored integrated solutions that offer flexibility and lower operational complexity. F5’s transition toward subscription-based software could support recurring revenue generation and improve revenue visibility over time. However, the pace of software growth might have remained uneven, depending on renewal timing, customer spending priorities and the adoption of new offerings.

Growing demand for application security solutions is also expected to have supported F5’s performance. As enterprises expand their use of cloud applications, APIs and AI-powered tools, the need to protect applications against automated attacks, fraud and emerging security threats is likely to increase. F5’s Distributed Cloud Services and AI Security Platform offerings could help the company capitalize on these requirements. Recent product enhancements and partnerships aimed at securing AI applications, models and agents are expected to broaden its opportunities as organizations seek greater visibility and control over enterprise AI deployments.

Nevertheless, slower growth in perpetual software licenses and cautious enterprise IT spending amid macroeconomic uncertainty could have limited the overall pace of expansion. Higher memory and storage costs, supply-chain pressures and competitive pricing could also weigh on Systems demand and profitability. In addition, acquisition integration requirements and lingering costs associated with the previously disclosed cyber incident may remain sources of execution risk. While recurring software revenues and demand for application security are likely to have provided support, these headwinds might have tempered the benefits from F5’s expanding cloud and AI opportunities.

What Our Model SaysOur proven model does not conclusively predict an earnings beat for F5 this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.

F5 has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks With Favorable CombinationHere are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:

Cadence Design Systems (CDNS - Free Report) , Seagate Technology (STX - Free Report) and Amphenol (APH - Free Report) are some stocks with favorable combinations.

Cadence Design Systems has an Earnings ESP of +0.91% and carries a Zacks Rank #2 at present. CDNS is slated to report its third-quarter 2026 results on Oct. 26. You can see the complete list of today’s Zacks #1 Rank stocks here.

Seagate Technology has an Earnings ESP of +2.49% and sports a Zacks Rank #1 at present. Seagate Technology is set to report its first-quarter fiscal 2027 results on Oct. 27.

Amphenol has an Earnings ESP of +1.72% and a Zacks Rank #2 at present. Amphenol is set to report its third-quarter 2026 results on Oct. 28.

The market expects RBC Bearings (RBC - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 30. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis maker of bearings and components is expected to post quarterly earnings of $3.55 per share in its upcoming report, which represents a year-over-year change of +23.3%.

Revenues are expected to be $516.18 million, up 13.4% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.06% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for RBC Bearings?For RBC Bearings, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.22%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that RBC Bearings will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that RBC Bearings would post earnings of $3.42 per share when it actually produced earnings of $3.88, delivering a surprise of +13.45%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

RBC Bearings doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAmong the stocks in the Zacks Manufacturing - General Industrial industry, Ingersoll Rand (IR - Free Report) , is soon expected to post earnings of $0.89 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +3.5%. This quarter's revenue is expected to be $2.04 billion, up 4.5% from the year-ago quarter.

The consensus EPS estimate for Ingersoll has been revised 0.3% lower over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -0.28%.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Ingersoll will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

It has been about a month since the last earnings report for H. B. Fuller (FUL - Free Report) . Shares have added about 1.8% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is H. B. Fuller due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for H. B. Fuller Company before we dive into how investors and analysts have reacted as of late.

H.B. Fuller’s Q3 Earnings Beat Estimates on Pricing & Margin GainsH.B. Fuller reported adjusted earnings of $1.52 per share for the third quarter of fiscal 2026, up 21% from $1.26 a year ago. Earnings surpassed the Zacks Consensus Estimate of $1.45 by 4.8%.

Net revenues rose 5.2% year over year to $938.2 million, beating the Zacks Consensus Estimate of $934.2 million by 0.4%. Results benefited from pricing execution and restructuring savings, which supported profitability despite softer volumes. Organic revenues increased 4.4%, while adjusted EBITDA grew 9% year over year.

Organic revenue growth reflected a 7.4% contribution from pricing, which more than offset a 3% decline in volumes. Foreign currency translation contributed 0.7% to revenue growth, while acquisitions added 0.1%.

The company's pricing initiatives helped counter higher raw material costs and weaker demand. All three global business units recorded positive organic revenue growth, highlighting the benefits of pricing execution across its portfolio.

Margins Expand on Cost SavingsGross profit totaled $311.7 million compared with $285.1 million in the year-ago quarter. Adjusted gross profit increased to $314.6 million from $288.4 million. Adjusted gross margin expanded 120 basis points (bps) year over year to 33.5%, primarily reflecting favorable pricing and restructuring savings.

Selling, general and administrative expenses increased to $198.5 million from $175 million a year earlier. Adjusted expenses were $183 million, up 8% year over year but down 7% sequentially due to expense timing.

Adjusted EBITDA reached $186.7 million compared with $170.6 million in the prior-year quarter. Adjusted EBITDA margin expanded 80 bps to a record 19.9%, reflecting improved operating leverage and continued benefits from the Quantum Leap restructuring program.

Hygiene and Building Segments Post GainsThe Hygiene, Health and Consumable Adhesives segment generated revenues of $413 million, up 7% year over year. Organic revenues grew 6.4%. Adjusted EBITDA increased to $72.8 million from $65.3 million, while the adjusted EBITDA margin improved 70 bps to 17.6%.

Building Adhesive Solutions recorded revenues of $246.5 million, up 5.5% year over year, with organic growth of 5.2%. Adjusted EBITDA increased to $44.8 million from $41.5 million. The segment's adjusted EBITDA margin expanded 50 bps to 18.2%, contributing to the company's broader profitability improvement.

Engineering Business Shows GrowthEngineering Adhesives generated revenues of $278.7 million compared with $272.3 million in the year-ago quarter, representing growth of 2.4%. Organic revenues increased 0.7%, while favorable foreign currency translation contributed 1.3% and acquisitions added 0.4%.

Adjusted EBITDA rose to $66.4 million from $63.4 million a year earlier. Adjusted EBITDA margin improved 50 bps to 23.8%, making Engineering Adhesives the company's highest-margin business unit. The segment delivered improved profitability despite relatively modest organic revenue growth.

Cash Flow Rises, Leverage ImprovesCash flow from operating activities totaled $182.6 million for the first nine months of fiscal 2026, up 17% from $156.8 million in the comparable prior-year period. Capital expenditures totaled $141.7 million, while share repurchases amounted to $48.9 million.

The company exited the quarter with cash and cash equivalents of $97.2 million and total debt of $2.05 billion. Net debt stood at $1.96 billion, roughly flat year over year. Net debt-to-adjusted EBITDA improved to 3 times from 3.3 times a year earlier.

Fiscal 2026 OutlookH.B. Fuller continues to expect fiscal 2026 net revenues to grow at a mid-single-digit rate, with organic revenues increasing at a low-single-digit rate. Pricing is projected to rise at a mid-single-digit rate, while volumes are expected to decline at a low-single-digit rate. Foreign currency translation is anticipated to contribute approximately 2%.

The company now expects adjusted EBITDA between $655 million and $670 million. Adjusted earnings per share are projected in the range of $4.70-$4.85, with the core tax rate anticipated between 25.5% and 26%.

Operating cash flow is expected to remain between $300 million and $325 million, excluding AMS-related items. Management remains focused on its Quantum Leap restructuring initiatives and the anticipated closing of the AMS acquisition before year-end. The company continues progressing toward its adjusted EBITDA margin target of more than 20%.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in estimates revision.

VGM ScoresCurrently, H. B. Fuller has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. Charting a somewhat similar path, the stock has a grade of A on the value side, putting it in the top 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, H. B. Fuller has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

The market expects Church & Dwight (CHD - Free Report) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on October 30, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis maker of household and personal products is expected to post quarterly earnings of $0.90 per share in its upcoming report, which represents a year-over-year change of +11.1%.

Revenues are expected to be $1.58 billion, down 0.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.24% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Church & Dwight?For Church & Dwight, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.06%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Church & Dwight will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Church & Dwight would post earnings of $0.89 per share when it actually produced earnings of $0.89, delivering no surprise.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Church & Dwight appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Key Takeaways Rate increases, new business and account growth are expected to support net premiums earned of $3.9B.
Net investment income is expected at $432.2 million, aided by operating cash flow and invested asset base.
The combined ratio is estimated at 92.1%, as modest catastrophe losses support margins.

Arch Capital Group Ltd. (ACGL - Free Report) is expected to register a decline in both top and bottom lines when it reports third-quarter 2026 results on Oct. 27, after the closing bell.

The Zacks Consensus Estimate for ACGL’s third-quarter revenues is pegged at $4.46 billion, indicating a 5.5% decline from the year-ago reported figure.

The consensus estimate for earnings is pegged at $2.05 per share. The Zacks Consensus Estimate for ACGL’s third-quarter earnings has moved north 9% in the past 30 days. The estimate suggests a year-over-year decline of 25.9%.

What the Zacks Model Unveils for ACGLOur proven model predicts an earnings beat for Arch Capital this time around. This is because the stock has the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), which increases the chances of an earnings beat.

Earnings ESP: Arch Capital has an Earnings ESP of +11.70% at present. This is because the Most Accurate Estimate of $2.29 is pegged higher than the Zacks Consensus Estimate of $2.05. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Arch Capital currently carries a Zacks Rank #3.

Factors Likely to Shape Q3 Results of ACGLRate increases, new business opportunities and growth in existing accounts, product innovation, market expansion and strong underwriting performance, combined with strategic investments, are likely to have favored net premiums earned.

The Zacks Consensus Estimate for net premiums earned is pegged at $4 billion. We expect net premiums earned to be $3.9 billion.
The Mortgage segment is likely to have benefited from growth in international business offset by a reduction in U.S. monthly premium volume.

Net investment income is likely to have benefited from solid net cash flow from operating activities, which is expected to have increased the invested asset base. We expect net investment income to be $432.2 million. The Zacks Consensus Estimate for investment income is pegged at $430 million.

The top line is likely to have gained from improved earned premiums and higher net investment income.

Expenses are expected to have increased in the to-be-reported quarter due to higher losses and loss adjustment expenses, acquisition costs, other operating expenses, amortization of intangible assets, corporate expenses and interest expenses. We expect total expenses to be $3.8 billion.

Disciplined underwriting practices and relatively modest catastrophe-related losses are expected to have supported underwriting margins. The Zacks Consensus Estimate for the combined ratio is pegged at 89, and our estimate is pinned at 92.1.

Share buybacks are likely to have added upside to the bottom line.

Other Stocks to ConsiderHere are three other P&C insurance stocks that you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat:

RenaissanceRe Holdings Ltd. (RNR - Free Report) has an Earnings ESP of +9.02% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $9.28, indicating a year-over-year decrease of 40.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.

RNR’s earnings beat estimates in each of the last four reported quarters.

The Allstate Corporation (ALL - Free Report) has an Earnings ESP of +5.25% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $7.03, indicating a year-over-year decrease of 37.1%.

ALL’s earnings beat estimates in each of the last four reported quarters.

Everest Group, Ltd. (EG - Free Report) has an Earnings ESP of +3.01% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $9.32, indicating a year-over-year decrease of 23.6%.

EG’s earnings beat estimates in two of the last four reported quarters and missed in the other two.

Australian Technical Forecast: AUD/USD Weekly Trade Levels AUD/USD has rebounded more than 2% from the October lows after defending major support at the lower boundary of a multi-month consolidation pattern. The breakout above the October opening range shifts the near-term focus higher with weekly momentum now approaching a critical threshold The advance is testing initial Fibonacci resistance, with a weekly close above this barrier needed to reinforce the case for a more significant low. Australian CPI and the Federal Reserve rate decision headline next week's event risk, with month-end positioning adding to volatility risks. Resistance 7025, 7107/16, 7208/14 (key) - Support 6938/48, 6876 (key), 6717/57 The Australian Dollar has mounted a sharp recovery from critical technical support, with the latest advance marking a meaningful shift in the near-term outlook. AUD/USD is now challenging an important Fibonacci threshold as weekly momentum approaches a potential bullish shift, raising the stakes for today's close. The broader consolidation remains intact, however, and buyers still have work to do before a more sustained advance can be confirmed. Attention now shifts to next week's Australian inflation report and Federal Reserve rate decision, with the reaction in interest-rate expectations likely to play a key role in shaping price action into month-end. Battle lines drawn on the AUD/USD weekly technical chart.

Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Aussie setup and more. Join live on Monday’s at 8:30am EST.

Australian Dollar Price Chart – AUD/USD Weekly

Chart Prepared by Michael Boutros, Sr. Technical Strategist; AUD/USD on TradingView

Technical Outlook: In last month’s Australian Dollar Forecast we noted that, AUD/USD was approaching key support and that, “From a trading standpoint, look to reduce portions of short-exposure / lower protective stops on a stretch towards 6945- rallies would need be limited to 7116 IF Aussie is heading for a break lower with a close below 6876 needed to fuel the next major leg of the decline.” Price registered an intraweek low at 6894 two-weeks later before rebounding with a breakout of the October opening range extending more than 2% off the monthly lows this week.

The bulls are attempting to mount resistance today at the 38.2% retracement of the September decline at 7025. Note that weekly RSI is attempting to breach the 50-level. A weekly close above this threshold, alongside a break of Fibonacci resistance, would strengthen the case for a more significant near-term low and keep the bulls in control heading into next week. Watch today’s close.

Subsequent topside objectives are eyed at the 61.8% retracement and the February high close at 7107/16 with key resistance steady at 7208/14. This region is defined by the 61.8% retracement of broader the 2021 decline and the 100% extension of the 2025 rally and converges on the upper bounds of the March consolidation pattern over the next few weeks. Strength surpassing this slope would expose the 2026 & 2019 yearly highs at 7278/95.

Weekly support rests with the June low week close (LWC) which converges on the 52-week moving average near 6938/48. Ultimately, the bears would need to break below the March close low at the 6876 to validate a breakout of this massive consolidation structure with the next major technical consideration seen at the 2025 close high and the 38.2% retracement of the 2025 advance at 6717/57.

           

Bottom line: AUD/USD has rebounded off confluent support near the lower bounds of a multi-month consolidation pattern. From a trading standpoint, losses would need to be limited to 6938 IF price is heading higher on this stretch with a close above 7025 needed to keep the immediate recovery viable heading into the close of the month.

AUD/USD event risk intensifies next week with Australia’s quarterly CPI release and the Federal Reserve decision both due Wednesday. Markets have already lifted expectations for an RBA hike at the November meeting after Deputy Governor Andrew Hauser warned that the inflation outlook had deteriorated, making the CPI report particularly important for the Australian dollar. U.S. GDP and PCE inflation follow Thursday, while month-end positioning and the monthly close on Friday could amplify volatility if the data trigger a broader shift in rate expectations. Stay nimble into the releases and watch the weekly / monthly closes for guidance. Review my latest Australian Dollar Short-term Outlook for a closer look at the near-term AUD/USD technical trade levels.

Australia / US Economic Calendar

Economic Calendar - latest economic developments and upcoming event risk.

Active Weekly Technical Charts British Pound (GBP/USD) Euro (EUR/USD) Swiss Franc (USD/CHF) Gold (XAU/USD) US Dollar Index (DXY) Canadian Dollar (USD/CAD) S&P 500, Nasdaq, Dow Japanese Yen (USD/JPY) Bitcoin (BTC/USD) --- Written by Michael Boutros, Senior Technical Strategist

Follow Michael on X @MBForex

CBOE Global (CBOE - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report, which is expected to be released on October 30, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis holding company for the Chicago Board Options Exchange is expected to post quarterly earnings of $3.37 per share in its upcoming report, which represents a year-over-year change of +26.2%.

Revenues are expected to be $701.96 million, up 15.9% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.17% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for CBOE?For CBOE, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +2.02%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that CBOE will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that CBOE would post earnings of $3.45 per share when it actually produced earnings of $3.56, delivering a surprise of +3.19%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

CBOE appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAnother stock from the Zacks Securities and Exchanges industry, IntercontinentalExchange (ICE - Free Report) , is soon expected to post earnings of $1.97 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +15.2%. Revenues for the quarter are expected to be $2.73 billion, up 13.2% from the year-ago quarter.

The consensus EPS estimate for ICE has been revised 0.9% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -0.02%.

When combined with a Zacks Rank of #2 (Buy), this Earnings ESP makes it difficult to conclusively predict that ICE will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Saab AB (publ) (SAABY) Q3 2026 Earnings Call October 23, 2026 4:00 AM EDT

Company Participants

Johan Andersson - Head of Investor Relations
Micael Johansson - President, CEO & Director
Anna Wijkander - Chief Financial Officer

Conference Call Participants

David Holmes
Marie-Ange Riggio - Morgan Stanley, Research Division
Fredrik Lithell - Handelsbanken Capital Markets AB, Research Division
William Balksten
Sash Tusa - Agency Partners LLP
Afonso Osorio - Barclays Bank PLC, Research Division

Presentation

Johan Andersson
Head of Investor Relations

Good morning, everyone, and welcome to the presentation of Saab's report for the third quarter 2026. My name is Johan Andersson, and I will be the moderator here today and also responsible for Investor Relations. With me here in Stockholm, I have our CEO, Micael Johansson, and our CFO, Anna Wijkander. Micael and Anna will present the report, and then thereafter, we will start the Q&A session. And remember, you can ask your questions over the telephone conference and you can also post your question via the web interface, and I will read them out here in the studio. So with that, a warm welcome, and over to you, Micael.

Micael Johansson
President, CEO & Director

Thank you, Johan, and most welcome also from my side. Thank you for joining this morning. Maybe not the best weather in Stockholm today, but still weather. Starting with the highlights of the quarter, of course, we still see a huge demand in the market, and investments are going -- ongoing in many countries. Of course, it's a bit different in different parts of Europe to start with in terms of our region. I still think they're moving ahead quite quickly in the right direction. I mean, the Baltic states, the Nordic countries, and also Poland and Germany.

We've had a very strong first 9 months, and we have been growing

On October 23, 2026, ether.fi announced its acquisition of Zeal and opened an in-app route for Zeal users to move to its account and card product. Zeal says the deal covers selected assets, not user accounts, keys or funds, as its wallet winds down.

The move is optional. In its own announcement, Zeal said: “You choose what to move, and nothing moves automatically.” Its follow-up statement describes ether.fi as a self-custodial Visa option for users whose Zeal wallet and Gnosis Pay card services are ending.

Gnosis Pay’s migration guide says Zeal’s card services will be wound up by December 20, 2026. The guide also describes other ways to keep a Gnosis Pay account. Zeal users can choose those routes instead of moving to ether.fi.

What moves to ether.fi
The live migration page sets out four steps. Users start from the Zeal home screen and supply an email address. Entering the emailed six-digit code creates an ether.fi account. Zeal then moves the selected balance and assets into the new account. The final step is identity verification with ether.fi, followed by setting up the card.

Supported assets move across unchanged. Unsupported assets are converted during the move, incurring network fees and potentially losing some value in the conversion. The page invites users to bring their whole balance, but warns that conversion can reduce its value. It supplies neither a conversion quote nor an asset-by-asset migration table.

Opening the account creates a separate legal relationship with ether.fi. The migration page says ether.fi and Zeal remain separate companies. Users of the new account come under ether.fi’s terms and privacy policy. Eligibility, availability, fees, limits and restrictions apply; crypto assets can lose value and returns from earning products are not guaranteed. Identity verification is required before all features become available.

Keeping access to the existing Safe
Before Zeal users lose access to the old interface, Gnosis Pay’s guide tells them to add another wallet they control as a second owner of their Safe. It gives MetaMask and Rabby as examples. It says this lets them sign into the Gnosis Pay web app with that wallet and manage the account, including withdrawals. Without it, transactions still require signatures inside Zeal.

The same guide warns users taking its partner-migration route to withdraw assets from Zeal’s earn product back to their balance first. Assets left in earn will not be picked up. It specifically says Rebind’s migration tool moves assets on Gnosis and Base automatically. Those instructions describe the Gnosis Pay partner route; ether.fi’s migration page does not give equivalent detail about handling existing earn positions.

For EUR cardholders, Gnosis Pay recommends Rebind. Its guide says the account, IBAN and card carry over without new identity checks, with the existing card unchanged at that stage. Users choosing ether.fi’s published flow create a new account and complete verification before setting up the card.

Gnosis Pay describes its partner transition as a staged process. Some partner apps initially import the existing card and Safe setup. Later, when the partner programme goes live, users accept new terms and receive a partner card, with advance notice. Where the partner supports importing the existing card, users keep it for the initial move, with the replacement card coming later in the transition.

Spending balances or borrowing against them
Ether.fi’s Direct Pay documentation lists $USDC, $USDT, $EURC and $frxUSD as spendable stablecoins. It also lists Liquid USD, Liquid RWA, Liquid Reserve and Liquid EUR vault balances. Card payments can draw directly from those vault balances without a prior withdrawal.

The Set Spend Priority control selects which balance pays first. If that balance cannot cover a purchase, the card uses another balance that can. The documentation lists these assets for spending in the destination product. It does not list every asset supported by the Zeal migration.

Users who borrow also take on lending and collateral risk. According to ether.fi’s Borrow guide, eligible assets are supplied to a dedicated onchain lending market managed by ether.fi, earning variable rates determined by supply and demand. Eligible assets act as collateral automatically, and each has its own loan-to-value limit. Both the assets in the portfolio and their total value determine how much a user can borrow.

Loans must remain overcollateralized. Reaching the liquidation threshold shown in the app triggers the automatic liquidation of some collateral to restore the position. Limits on new borrowing cannot prevent market movements from pushing a position toward that threshold. Borrow can be switched off in settings once no borrowed amount remains outstanding, leaving the card operating in Direct Pay.

The terms of use separate protocol lending from the card issuer. They describe overcollateralized credit through decentralized borrowing protocols, with borrowing eligibility and limits set by protocol parameters. The issuer supplies the card used to access that credit; it does not originate the protocol loan.

Cashback has separate conditions
Ether.fi’s Zeal page advertises 3% cashback on eligible purchases up to the applicable monthly limit. The acquisition announcement advertises up to 4%. The migration page does not explain what would qualify a migrating user for the higher advertised rate.

The cashback programme terms exclude ATM withdrawals, peer-to-peer payments, tax payments, currency exchange services, gift cards and other cash equivalents. They also permit reversal of rewards after a refund, cancellation or chargeback, including by debiting the account, reducing future rewards or reducing the refund by the original reward’s dollar value.

The migration page has not published an asset-by-asset conversion schedule or explained how existing Zeal earn positions are treated in its own flow. Gnosis Pay’s stated December 20 deadline covers Zeal card services; ether.fi’s page gives no separate closing date for its migration offer.

The market expects Imperial Oil (IMO - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on October 30, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis oil and gas and petroleum products company is expected to post quarterly earnings of $3.43 per share in its upcoming report, which represents a year-over-year change of +118.5%.

Revenues are expected to be $15.44 billion, up 76.4% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 12% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Imperial Oil?For Imperial Oil, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Imperial Oil will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Imperial Oil would post earnings of $2.99 per share when it actually produced earnings of $3.27, delivering a surprise of +9.36%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Imperial Oil doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

U.S. manufacturing output recovered from 98.2 in August to a preliminary 98.4 in September, matching July’s reading. Some Scenarios The most supportive combination would be easing real yields along with resilient activity. For the weekly outlook, this distinction matters a bit. The favorable monetary environment can encourage investment demand, while manufacturers may still be a bit cautious if final demand is uncertain. Stronger production, on the other hand, can improve the industrial case even when monetary conditions remain somewhat restrictive.

Unemployment Claims Thursday’s unemployment claims report illustrates why the growth picture remains somewhat mixed. Initial claims declined to 194,000 for the week ending October 17, while continuing claims increased to 1.728 million for the week ending October 10. These are differently dated measures, but they give us an idea of what is going on through the broader U.S. economy.

Inflation complicates the outlook for industrial margins and financing as well. September final-demand producer prices rose 1.3% month over month, seasonally adjusted, and 6.3% year over year, unadjusted, in the October 15 release. These are broad producer-price measures, not a silver input-cost index, so silver should just be thought of as a bit of a component in the larger picture. Persistent cost pressure could squeeze some manufacturers or encourage restrictive monetary policy, so these numbers will be watched.

Federal Reserve Meeting Next week’s first major test is the Federal Reserve decision on Wednesday, October 28, scheduled for 2 p.m. Eastern, with a 2:30 p.m. press conference. A policy message that permits real yields to stay lower could help silver’s monetary argument. A renewed emphasis on inflation could restrain the market, as tighter monetary policy continues to work against it.

On October 29, there is the BEA advance third-quarter GDP and September personal income and outlays announcement, coming out at 8:30 a.m. Eastern. GDP can help us assess demand and investment conditions. The personal income and outlays release supplies PCE inflation and household-spending evidence. For silver, resilient real demand with moderating inflation would be a favorable combination.

Zircuit, a Zero-knowledge rollup redefining secure and automated finance on Web3, relies on Orochi Network’s Orocle and Orand to power its vision. With Orocle delivering trustworthy real-time data and Orand ensuring fast, verifiable randomness, this partnership tackles critical challenges in decentralized finance and gaming. Together, we enhance Zircuit’s AI-driven security and low-cost efficiency, paving the way for a new era of scalable, trustless dApps.

Introduction to Zircuit
Zircuit (@ZircuitL2) is a cutting-edge Ethereum Virtual Machine (EVM)-compatible Zero-Knowledge rollup tailored for secure and automated finance in the Web3 space. By blending proven rollup technology with Zero-Knowledge Proofs (ZKPs), Zircuit delivers faster transactions, lower fees, and heightened security compared to traditional blockchains. Its standout feature is Sequencer Level Security, where artificial intelligence (AI) actively monitors the mempool to detect and block malicious transactions before we’re processed. This proactive approach makes Zircuit an ideal platform for decentralized applications (dApps) in finance, gaming, and beyond. 

With Mainnet Phase 1 launched in August 2024 and over $2.5 billion in staked assets, Zircuit is rapidly gaining traction as a leader in the blockchain ecosystem.

Zircuit (@ZircuitL2) is a cutting-edge Ethereum Virtual Machine (EVM)

The Role of Orochi Network
Orochi Network (@OrochiNetwork) is a Verifiable Data Infrastructure that leverages ZKPs to provide secure, scalable, and privacy-preserving solutions for Web3. We offer Orocle, a decentralized oracle, and Orand, a high-throughput Verifiable Random Function (VRF) to Zircuit. Orocle delivers trustworthy external data, such as price feeds or market information, while Orand generates fast, verifiable randomness for applications requiring unpredictability. Together, we address critical challenges in Zircuit’s ecosystem, enhancing its ability to support secure and automated dApps.

Orochi Network’s Orocle and Orand elevate Zircuit’s capabilities

Why Zircuit Needs Orochi
Zircuit’s mission to power automated finance hinges on two key requirements: reliable external data and secure randomness. Financial dApps—like Decentralized Exchanges (DEXs), lending platforms, or yield optimizers—rely on real-time data to function effectively. However, centralized oracles can introduce risks like manipulation or downtime, undermining trust. Similarly, gaming or lottery dApps need randomness that’s both fair and verifiable to ensure equitable outcomes, but on-chain randomness generation is often slow and costly. Orochi’s Orocle and Orand solve these issues by** providing decentralized**, **cryptographically **secure solutions that align with Zircuit’s focus on performance and security.

Use Case: Automated Trading Bot with Orocle
Imagine a decentralized trading bot deployed on Zircuit, designed to execute trades based on real-time market conditions. Here’s how Orocle powers this use case:

Trigger: The bot needs the current ETH/USD price to decide whether to buy or sell.

Orocle in Action: Orocle fetches the price from multiple decentralized sources, aggregates it off-chain, and generates a ZKP to prove its accuracy.

Efficient Validation: Using ZK-data-rollups, Orochi compresses the proof for quick on-chain verification, minimizing gas costs.

Zircuit’s Role: The bot’s smart contract validates the proof on Zircuit and receives the verified price.

Outcome: If the price meets the bot’s criteria (e.g., ETH/USD > $2,000), it executes the trade—all within seconds.

This use case showcases Orocle’s ability to deliver secure, low-latency data that’s critical for automated financial strategies. By eliminating reliance on centralized oracles, Orocle enhances trust and reduces risks, perfectly complementing Zircuit’s AI-driven security.

Use Case: Decentralized Lottery with Orand
Now consider a lottery dApp on Zircuit, where players bet tokens for a chance to win a jackpot. Orand ensures fairness with verifiable randomness:

Trigger: The lottery needs a random number to select the winner once the entry period ends.

Orand in Action: Orand generates a random number off-chain, backed by a ZKP to prove it wasn’t tampered with.

Scalable Proof: The proof is optimized via ZK-data-rollups for efficient on-chain validation.

Zircuit’s Role: The lottery contract verifies the randomness on Zircuit and determines the winner.

Outcome: The jackpot is awarded to the player whose ticket matches the random number, with full transparency.

Orand’s high-throughput VRF ensures the lottery can handle frequent draws without bottlenecks, making it ideal for gaming dApps on Zircuit. Its cryptographic verifiability guarantees fairness, boosting user confidence.

How Zircuit Integrated on Orochi Network

How the Integration Works
The integration of Orocle and Orand with Zircuit is seamless due to Orochi’s blockchain-agnostic design and compatibility with Zircuit’s EVM and ZKP architecture. Here’s the process in a nutshell:

Data Flow: Orocle retrieves external data or Orand generates randomness off-chain.

Proof Generation: Orochi creates ZKPs to verify the data or randomness, optimized for efficiency.

On-Chain Validation: Zircuit’s smart contracts validate these proofs, leveraging its hybrid infrastructure.

Result: dApps access verified outputs instantly, maintaining security and performance.

This synergy enhances Zircuit’s ecosystem by adding a layer of trust to the data and randomness that dApps rely on.

Benefits for Zircuit
The integration of Orochi’s solutions brings tangible advantages to Zircuit:

Trustworthy Data: Orocle provides decentralized, verifiable price feeds and market data, vital for financial automation.

Fair Randomness: Orand delivers fast, secure randomness for gaming and beyond, ensuring unbiased outcomes.

Cost Savings: ZK-data-rollups reduce on-chain verification costs, aligning with Zircuit’s low-fee model.

Enhanced Security: Orochi’s cryptographic proofs bolster Zircuit’s AI-powered sequencer security.

Developer Appeal: Access to reliable data and randomness attracts more dApp builders to Zircuit.

Real-World Impact
With over 100 ecosystem partners (e.g., Renzo, DODO, Ethena) and a growing user base, Zircuit benefits significantly from Orochi’s integration. For instance, Orocle’s 70% reduction in oracle latency (compared to industry standards) ensures financial dApps run smoothly, while Zircuit’s 50x faster transactions amplify this efficiency. Together, we create a robust platform for next-generation DeFi and gaming applications.

Conclusion
Orochi Network’s Orocle and Orand elevate Zircuit’s capabilities, enabling secure, automated finance with unparalleled trust and performance. Whether it’s powering trading bots with real-time data or ensuring fair lotteries with verifiable randomness, this integration unlocks new possibilities for Zircuit’s ecosystem. As Web3 adoption grows, Zircuit—backed by Orochi—stands poised to lead the charge in decentralized innovation.

Read more Orochi’s blogs at here 

In its upcoming report, Garmin (GRMN - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $2.38 per share, reflecting an increase of 19.6% compared to the same period last year. Revenues are forecasted to be $1.99 billion, representing a year-over-year increase of 12.3%.

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

With that in mind, let's delve into the average projections of some Garmin metrics that are commonly tracked and projected by analysts on Wall Street.

According to the collective judgment of analysts, 'Net Sales- Marine' should come in at $299.00 million. The estimate indicates a change of +12% from the prior-year quarter.

The average prediction of analysts places 'Net Sales- Aviation' at $257.85 million. The estimate points to a change of +7.2% from the year-ago quarter.

Analysts predict that the 'Net Sales- Fitness' will reach $728.55 million. The estimate indicates a year-over-year change of +21.2%.

The consensus among analysts is that 'Net Sales- Outdoor' will reach $545.66 million. The estimate indicates a year-over-year change of +9.7%.

It is projected by analysts that the 'Net Sales- Auto OEM' will reach $158.08 million. The estimate indicates a year-over-year change of -4.1%.

The consensus estimate for 'Operating income (loss)- Outdoor' stands at $182.83 million. Compared to the present estimate, the company reported $169.73 million in the same quarter last year.

Analysts expect 'Operating income (loss)- Fitness' to come in at $227.42 million. Compared to the current estimate, the company reported $193.60 million in the same quarter of the previous year.

The combined assessment of analysts suggests that 'Operating income (loss)- Marine' will likely reach $57.94 million. The estimate compares to the year-ago value of $49.40 million.

Analysts forecast 'Gross profit- Fitness' to reach $432.34 million. Compared to the current estimate, the company reported $362.85 million in the same quarter of the previous year.

The collective assessment of analysts points to an estimated 'Gross profit- Marine' of $165.21 million. The estimate is in contrast to the year-ago figure of $148.24 million.

Based on the collective assessment of analysts, 'Gross profit- Aviation' should arrive at $191.92 million. The estimate is in contrast to the year-ago figure of $180.71 million.

Analysts' assessment points toward 'Gross profit- Outdoor' reaching $354.63 million. The estimate compares to the year-ago value of $329.75 million.

View all Key Company Metrics for Garmin here>>>

Over the past month, shares of Garmin have returned +0.1% versus the Zacks S&P 500 composite's -1.2% change. Currently, GRMN carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

CoreWeave's (CRWV -0.77%) stock has plunged 54% over the past 12 months, and it set a new 52-week low of $53.50 on Oct. 22. In the past week alone, it sank about 13%. Let's see why this neocloud stock fizzled out -- and if it's becoming a compelling buy at these prices.

What does CoreWeave do?
CoreWeave was once an Ethereum miner, but it repurposed its Nvidia (NVDA +0.24%) GPUs to train AI models after the cryptocurrency market crashed in 2018.

Image source: Getty Images.

Today, CoreWeave operates 51 data centers that run over a quarter million Nvidia GPUs to remotely process AI tasks. That streamlined approach enables it to process advanced AI workloads roughly 35 times faster and at 80% lower cost than larger cloud platforms. Its largest customers include Meta Platforms, Microsoft, OpenAI, and Anthropic. Nvidia also owns about 9% of CoreWeave, making it the company's top institutional investor.

CoreWeave went public last March. In 2025, its revenue soared 168% to $5.1 billion, and its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 154% to $3.1 billion. Those explosive growth rates -- driven by the AI market's breakneck expansion -- dazzled investors, and the stock surged from its IPO price of $40 per share to a record high of $183.58 per share on June 20, 2025.

CRWV CoreWeave$55.17-$0.43 (-0.77%)

NASDAQ · As of 12:04 PM ET 10/23/26

Why did CoreWeave's stock crash?
At its peak, CoreWeave's enterprise value hit $91.1 billion -- or 18 times the revenue it would generate in 2025. However, it struggled to maintain that premium valuation because investors were concerned about its steep losses and persistent dilution.

Even though its adjusted EBITDA was positive, it posted a net loss of $1.2 billion in 2025. That massive gap was driven by interest payments, equipment depreciation, lease and acquisition costs, and stock-based compensation, all of which were excluded from its adjusted EBITDA.

To stabilize its liquidity, CoreWeave issued more shares and convertible debt. That's why its share count has risen 28% since its IPO, and why it ended its latest quarter with $72 billion in total liabilities and a jaw-dropping debt-to-equity ratio of 14.3. Those glaring weaknesses suggested its business model wasn't sustainable yet, and the Fed's rate hike in September -- its first in three years -- made its messy balance sheet even less attractive.

How fast is CoreWeave growing?
By the end of the second quarter of 2026, CoreWeave's contracted revenue backlog had grown 246% year over year to $104 billion. For the full year, analysts expect its revenue and adjusted EBITDA to surge 151% to $12.9 billion, with adjusted EBITDA growing 144% to $7.6 billion. But on a GAAP basis, they expect its net loss to widen from $1.2 billion to $2.9 billion.

While CoreWeave's business is booming, it had only 1.85 GW of capacity at the end of June, compared to a contracted backlog of 4.2 GW. It expects to lease more data centers and buy more GPUs to narrow that gap next year, but that expansion will be costly.

For 2027, analysts expect its revenue to grow 106% to $26.5 billion, its adjusted EBITDA to grow 121% to $16.7 billion, and its net loss to narrow slightly to $2.8 billion. At its current enterprise value of $76.2 billion, it trades at just four times next year's sales and six times its adjusted EBITDA. Those low valuations should limit its downside potential, even if near-term concerns about rising rates and steep net losses weigh on its stock.

Why could it be the right time to buy CoreWeave?
CoreWeave clearly has a first-mover advantage in the neocloud space; it's firmly backed by Nvidia, and economies of scale should kick in as its business matures. I didn't love the stock when it skyrocketed after its IPO, but I think it's worth accumulating in the mid-50s -- as long as you can tune out the near-term noise and focus on its long-term growth potential.

Cava Group (CAVA - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.

Over the past month, shares of this Mediterranean restaurant chain have returned +2.2%, compared to the Zacks S&P 500 composite's -1.2% change. During this period, the Zacks Retail - Restaurants industry, which Cava falls in, has gained 3.6%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

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

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

Cava is expected to post earnings of $0.12 per share for the current quarter, representing no change from the year-ago quarter. Over the last 30 days, the Zacks Consensus Estimate has changed +3.3%.

For the current fiscal year, the consensus earnings estimate of $0.55 points to a change of +1.9% from the prior year. Over the last 30 days, this estimate has changed +0.3%.

For the next fiscal year, the consensus earnings estimate of $0.74 indicates a change of +34.2% from what Cava is expected to report a year ago. Over the past month, the estimate has changed -2.5%.

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

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

12 Month EPS

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

For Cava, the consensus sales estimate for the current quarter of $357.44 million indicates a year-over-year change of +22.3%. For the current and next fiscal years, $1.51 billion and $1.79 billion estimates indicate +27.7% and +18.9% changes, respectively.

Last Reported Results and Surprise HistoryCava reported revenues of $368.44 million in the last reported quarter, representing a year-over-year change of +31.3%. EPS of $0.19 for the same period compares with $0.16 a year ago.

Compared to the Zacks Consensus Estimate of $353.31 million, the reported revenues represent a surprise of +4.28%. The EPS surprise was +5.56%.

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

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

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

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

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

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

Gold has been humanity’s favorite store of value for thousands of years. Bitcoin launched in January 2009. In the US, the newcomer now has more owners.

A research report released by River in July 2026 estimates that approximately 49.6 million American adults own Bitcoin. That works out to 18.6% of the adult population, compared with 28.8 million adults, or 10.8%, who report owning gold.

According to the report, this is the first time on record that Bitcoin ownership has overtaken gold.

The numbers behind the flip
The gap is wide. By River’s count, US Bitcoin owners outnumber gold owners by roughly 20.8 million people.

River’s data shows Bitcoin ownership rising from 14.3% to 18.6% of US adults in approximately six months.

The report credits much of that growth to easier access. Exchange-traded funds, mobile apps and a range of exchanges have made buying Bitcoin more accessible. River also links the trend to a broader cultural shift in how Americans view digital assets.

River isn’t the only outfit reporting this pattern. Earlier surveys from the Nakamoto Project, which collected data from late 2024 to early 2025 and published findings by mid-2025, landed in similar territory. Those surveys counted roughly 48 to 50 million Bitcoin owners, compared with about 37 million gold owners.

The two studies disagree on the gold figure. Their Bitcoin estimates sit in the same neighborhood, though, and both put Bitcoin ahead.

Beyond individual wallets
Individual ownership is only part of the US picture. American exposure to Bitcoin also runs through corporate treasuries and government vaults.

Americans are estimated to hold about 42% of the total global Bitcoin supply.

US public companies collectively hold approximately 1.24 million BTC. According to the research, that represents about 93% of corporate Bitcoin holdings worldwide.

The US government holds around 328,000 BTC, valued at over $26 billion. Most of it came from asset seizures rather than deliberate purchases.

A wrinkle in the data
Not every survey tells the same story. Gallup reported that 9% of US adults owned crypto as of June 2026. That figure was down from 14% the previous year.

That sits awkwardly next to River’s 18.6% Bitcoin figure. Bitcoin is a subset of crypto, so on paper, Bitcoin ownership shouldn’t exceed overall crypto ownership.

The likeliest explanation is that the surveys ask different questions of different samples. Some respondents may also not think of an ETF holding as “owning crypto.” The research frames the Gallup data as a sign that Bitcoin is pulling ahead of other digital currencies, even as broader crypto ownership slips.

What this means
River’s numbers suggest that among individual Americans, the default “alternative asset” may be shifting. The research suggests that could encourage institutions to allocate more toward Bitcoin, as it gains acceptance as a legitimate asset class.

The concentration figures cut both ways. The US holds about 42% of global Bitcoin supply, and US public companies account for about 93% of corporate holdings. That gives American policy decisions outsized influence over the asset, meaning regulatory moves on ETFs, corporate accounting or the handling of seized coins could ripple through the market.

What to watch next: whether the growth rate River measured holds up, and whether other pollsters converge on similar figures. The six-month climb from 14.3% to 18.6% is striking. And if Gallup’s lower crypto numbers keep diverging from Bitcoin-specific surveys, expect a debate over methodology to follow.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

Circle has widened the scope of Gateway, its crosschain balance product. On October 23, 2026, the company added support for cirBTC and EURC, two assets that previously sat outside a system built around USDC.

The pitch is simple. Instead of tracking separate piles of the same token on a dozen blockchains, a user holds one unified balance per asset and spends it wherever it’s needed.

What Gateway actually does now
According to the research findings, funds become accessible in under 500 milliseconds once a deposit is finalized.

The update also brings gas-free Nanopayments to cirBTC and EURC. Gas fees are the network charges users pay to process a transaction. Removing them matters most for tiny, frequent payments, where a fee can easily exceed the payment itself.

Circle is positioning the feature for businesses, wallets and agentic applications. That last group means software agents that transact on their own, often in high volumes and small amounts.

Liquidity works on an on-demand model. Rather than parking capital on every chain ahead of time, users pull it where it’s required, when it’s required.

Gateway remains non-custodial, per the research findings. Users also keep a 7-day trustless withdrawal option. Put plainly, there’s a route to get funds out without relying on Circle’s cooperation, at the cost of a week’s wait.

Cumulative transfers through Gateway surpassed $10 billion by mid-October 2026, according to the research.

The two new assets, and the road here
cirBTC is Circle’s Bitcoin-backed token. Each unit is backed 1:1 by native Bitcoin held by a regulated Circle entity. It launched on August 21, 2026, so it took roughly two months to go from debut to unified-balance support.

EURC is Circle’s euro stablecoin. It is backed by full euro reserves and complies with MiCA, the European Union’s Markets in Crypto-Assets framework. MiCA is the EU’s rulebook for crypto issuers, and compliance is effectively the entry ticket for serious euro-denominated business in the bloc.

The Gateway move follows a September 2026 expansion of CCTP, Circle’s Cross-Chain Transfer Protocol. That upgrade enabled native EURC transfers across multiple blockchains, including Arc and Ethereum. Arc is Circle’s own layer-1 network.

The research also notes that developers can adopt the new assets without significant changes to existing setups.

What this means for businesses and builders
A single balance per asset shrinks the capital buffer required across chains. Money that once sat waiting on five chains can sit in one place and move when called.

Adding a MiCA-compliant euro stablecoin gives European businesses a native-currency option, rather than forcing every flow through a dollar conversion.

cirBTC addresses a different need. Plenty of users want Bitcoin exposure inside applications that don’t run on the Bitcoin network. A token backed 1:1 by native Bitcoin, now spendable across chains from one balance, makes that exposure easier to use in payments and treasury workflows.

There is a nuance worth keeping straight. Gateway itself is non-custodial, but cirBTC’s backing depends on Bitcoin held by a regulated Circle entity. Users are still trusting Circle’s custody of the underlying asset, even if the balance layer doesn’t hold their funds. Those are two separate trust questions, and treating them as one would be a mistake.

Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.

Block has introduced its first large-scale advertising campaign for Bitcoin, called “Bitcoin Does,” aiming to engage the estimated 60 million Americans with an interest in digital currency but who have not yet participated in the market.

New campaign strategy targets mass adoptionThe “Bitcoin Does” campaign marks a shift in Block’s outreach approach, focusing on demonstrating real-life uses for Bitcoin instead of delving into complex technical aspects such as mining or blockchain. The company seeks to present Bitcoin as a straightforward and practical financial solution, responding to the questions and concerns of everyday consumers.

Maria Pesce, who leads Bitcoin marketing at Block and works across its Cash App, Square, and Proto product lines, explained the rationale behind the campaign. Pesce stated that feedback from potential users highlighted a need for clearer messaging that emphasizes Bitcoin’s tangible benefits.

Pesce reported that Block’s research showed many people are seeking “more honest money” and are trying to understand how Bitcoin fits into their daily lives.

Customer insights inform campaign messagingThe concept behind the “Bitcoin Does” campaign emerged from insights gathered through conversations with Cash App users and Square merchants. Many expressed frustration with inflation, financial bailouts, and private equity practices, motivating Block to position Bitcoin as a more transparent and accessible alternative.

Pesce highlighted that messages from small business owners influenced the campaign’s narrative, with several describing Bitcoin as “more honest money.” The marketing materials focus on Bitcoin’s fixed supply, self-custody options, and why younger generations are increasingly choosing the cryptocurrency for its perceived stability and transparency.

Interactive experiences and payment innovationBlock also used experiential marketing, debuting its “Lightning Lake” activation at ComplexCon, a cultural event. At this venue, attendees engaged in interactive activities such as “fishing for Bitcoin” and making payments via the Lightning Network, a second-layer protocol that enables faster, low-fee transactions over the Bitcoin network.

Mini dictionary: The Lightning Network is a second-layer scaling solution for Bitcoin that allows for instant transactions between users and reduces congestion and fees on the main blockchain, making micro-payments practical.

Block’s design philosophy aims to make using Bitcoin as simple as sending email, underlining the company’s focus on accessibility. The company also promotes 0% Bitcoin transaction processing fees on Square, further incentivizing merchants and customers to adopt digital payments.

Block’s team emphasized that design choices and customer experience are crucial for helping new users reach “light bulb moments” where the advantages of Bitcoin become clear.

Block’s expanding role in the digital ecosystemFounded by Jack Dorsey, Block is a financial services and technology company known for its prominent brands including Cash App and Square. The company is expanding its reach in the digital asset sector, developing tools and experiences that aim to simplify and promote Bitcoin adoption.

The launch of this campaign coincides with Block’s efforts to join broader technology alliances. The company recently aligned with major firms such as Nvidia, Microsoft, and Visa in initiatives focused on developing secure artificial intelligence applications.

By prioritizing practical demonstrations and tailored messaging, Block intends to bridge the gap between curiosity and active participation among millions of prospective Bitcoin users in the United States.

Coinbase official logo (public domain, Wikimedia Commons) — CryptoBriefing brand treatment

A large transfer of 789 Bitcoin, valued at approximately $64.31 million, was made from an unidentified wallet to Coinbase Institutional, according to Whale Alert. This transaction comes amid Bitcoin’s price in the range of $81,500 to $81,900 on October 23, 2026, following a recent decline from around $84,800. The movement of such a significant amount of Bitcoin to an institutional platform like Coinbase suggests potential institutional interest, although the exact purpose and ownership of the wallet remain unclear. Meanwhile, U.S. spot Bitcoin ETFs have been experiencing net outflows, adding another layer of complexity to the current market dynamics.

Key Takeaways The transfer of 789 BTC to Coinbase Institutional suggests potential institutional involvement, which could indicate interest in higher price levels. Bitcoin has been in a range between $81,500 and $81,900, with previous highs at $84,800, suggesting a cautious market environment. The recent net outflows from U.S. spot Bitcoin ETFs suggest mixed sentiment among institutional participants. What to Watch Any further large transfers or institutional activity could influence Bitcoin’s price direction. The impact of this transfer on the market remains to be seen, particularly if it aligns with any significant announcements or shifts in institutional strategy. Additionally, any changes in the ETF inflow/outflow patterns may indicate shifts in institutional sentiment and its effect on Bitcoin’s potential to reach higher price thresholds.

Term Structure

Contract Odds Δ since publish Volume 24h October 24 2026 0.9% — — View market → October 24 2026 13% — — View market → October 24 2026 3.5% — — View market → October 24 2026 1.2% — — View market → October 24 2026 3.5% — — View market → October 24 2026 13.5% — — View market →

Payment activity on the XRP Ledger has surged, with recent statistics from XRPScan showing payment volume reached 770.6 million XRP in the latest 24-hour period. This marks a 119.6% increase compared to the previous day. The figure is significantly above the 30-day average of 601.9 million XRP, indicating a sudden return of network activity after a period of stagnation. Despite this notable spike, the all-time high for daily payment volume remains much higher at 7 billion XRP, suggesting that current levels, while robust, are still far from record territory.

Network activity rebounds after slow periodA review of the past year reveals that XRP payment volumes have been highly volatile, with notable peaks approaching 2.6 billion XRP both in November and February. Outside of these bursts, daily volumes typically fluctuate between 300 million and 700 million XRP. On quieter days, network activity can even drop close to zero. The latest jump follows directly after one such period of low network engagement.

It is worth noting that much of this 119.6% increase comes off a very low baseline, limiting its immediate impact as a long-term trend signal. Nevertheless, analysts point out that any uptick in genuine payment activity is a positive sign for the health of the network, as it reflects increased settlement and usage by participants. This stands in contrast to exchange trading volumes, which can be influenced by speculative activity.

Payment volume shows how much XRP is actually moving between accounts, so it is a cleaner signal than exchange trading alone. When this figure rises, more people are sending, settling, and using the network.

After several weeks of diminished activity, this resurgence in payments marks a potential turning point for user engagement, provided it can be sustained over the coming days.

Mini dictionary: XRP Ledger – a decentralized, public blockchain designed for payments, allowing users to send value quickly and at low cost. The ledger validates and tracks transactions using the XRP token as its native asset.

Price remains below major resistanceDespite the uptick in network usage, XRP’s market price has not shown a corresponding rally. The digital asset is now trading close to $1.31, remaining below key technical levels. The 200-day moving average sits near $1.37, while the 100-day average is close to $1.34, both now acting as resistance zones. Earlier attempts to push above these areas were met with selling pressure, and the price has retreated toward a range of $1.27 to $1.30.

Technical momentum remains weak, with the Relative Strength Index (RSI) hovering around 40. While not yet in oversold territory, this reading points to limited buying enthusiasm.

IndicatorCurrent ValueSupport/ResistanceCurrent Price$1.31—200-day Moving Average$1.37Resistance100-day Moving Average$1.34ResistanceNearest Support$1.25SupportNext Key Support$1.15SupportRSI40Neutral/WeakShould the price break below $1.25, analysts point to $1.15—where the August rally previously began—as the next important support zone. On the contrary, a daily close above $1.37 would open the door for further gains, with upside targets at $1.45 and $1.55.

Traders wait for confirmationTrading volume for XRP on exchanges has declined, signaling a cautious stance among market participants. Many investors appear to be waiting for confirmation that the surge in payment activity is translating to sustainable buying interest and higher prices.

A real recovery needs both better network use and stronger buying on the exchanges. So far, only the first part has appeared.

Market observers highlight that such divergence between technical adoption and price action is not uncommon, especially when the financial market is searching for direction. If payment volumes remain steadily above the 30-day average of 601.9 million XRP in the coming days, the chances of a price breakout above $1.37 could increase. However, if this latest spike proves short-lived, XRP is expected to remain within its current trading range.

TLDR

Table of Contents

Malaysia and Thailand join Singapore’s BLOOM initiative as policymaker members.

The initiative focuses on cross-border payments using stablecoins and tokenized bank deposits.

Ripple, Visa, Mastercard and the World Bank Group are among the participating organizations.

Ripple and Unloq plan to test automated trade payments using RLUSD on the XRP Ledger.

Central banks will examine payment settlement, network compatibility, identity checks and regulatory controls.

Singapore has expanded its BLOOM payments initiative as Malaysia and Thailand join efforts to test cross-border transfers. The work covers regulated stablecoins and tokenized bank deposits.

Singapore Adds Two Central Banks to BLOOM
The Monetary Authority of Singapore confirmed the membership of Bank Negara Malaysia and the Bank of Thailand on Friday. Both joined as policymaker members rather than commercial payment providers.

BLOOM stands for Borderless, Liquid, Open, Online, Multi-currency. Singapore started the project in October 2025 to bring regulators, banks and technology firms together around digital money settlement.

Ripple and Payment Networks Join the Work
Current participants include Ripple, Visa, Mastercard, Airwallex, Maybank and the World Bank Group. Circle, Coinbase, JPMorgan, Standard Chartered and Stripe were already involved in the initiative.

Ripple announced a trial with trade finance company Unloq in March. The partners plan to use RLUSD on the XRP Ledger and release payments when shipment conditions are met. Separately, Cross River Bank is adding Ripple’s RLUSD to its payment system.

The World Bank Group brings experience in international payment systems and financial inclusion. BLOOM participants are examining business payments, company cash management and trade finance.

Banks Examine Settlement and Safety Checks
The central banks will examine how institutions accept and exchange different digital currencies across countries. They will study ways for payment systems to communicate without requiring separate deals in every market.

Tokenized deposits form another part of the work. These tokens represent bank deposits rather than stablecoins issued by private companies. In a separate development, JPMorgan made its JPM Coin deposit token available on Ethereum this week for approved institutional clients.

BLOOM will examine identity checks, sanctions screening and transaction limits. MAS said common operating arrangements could reduce implementation costs while allowing regulators to apply their own national requirements.

Malaysia and Thailand Outline Their Priorities
Bank Negara Malaysia Deputy Governor Aznan bin Abdul Aziz said payments using different forms of digital money were becoming more practical. He welcomed cooperation between central banks and companies.

Rules remain a separate issue for stablecoin providers. This week, the US banking regulator outlined waiver requirements for existing stablecoin issuers, showing how oversight differs between markets. Bank of Thailand Deputy Governor Daranee Saeju said Singapore’s initiative would support its work on rules for tokenized money.

Evernorth CEO Asheesh Birla says the company’s Nasdaq debut marks a major milestone for XRP (CRYPTO: XRP).

The company plans to deploy its 473 million XRP holdings gradually into institutional lending and DeFi opportunities prioritizing security, liquidity and sustainable returns.

Speaking on the Thinking Crypto podcast, Birla outlined Evernorth’s plan to become more than a passive crypto treasury company.

Unlike Bitcoin treasury firms such as Strategy (NASDAQ:MSTR), Evernorth plans to generate risk-adjusted yields from its XRP holdings through TradFi strategies and emerging on-chain protocols.

"With Bitcoin (CRYPTO: BTC), you can move, you can hold, but you can’t really do much on-chain," Birla said.

He pointed out Evernorth’s primary performance metric is to maximize XRP per share, although he declined to disclose future acquisition plans.

Evernorth is trading under Armada Acquisition Corp II (NASDAQ:XRPN).

XRP Lending, DeFi Could Drive Institutional DemandBirla expects XRP Ledger lending, vaults and DeFi applications to attract institutional capital and expand XRP liquidity.

Evernorth is evaluating on-chain partners, while growing tokenization could boost demand for blockchain-based lending and settlement.

However, Birla emphasized risk management before deploying treasury assets.

“We’re going to take it slow and build methodically,” he said.

Why XRP’s Nasdaq Debut Is a Turning PointBirla described Evernorth’s public listing as validation of XRP’s original focus on financial services, saying its institutional use cases are now materializing on Nasdaq.

He cited growing participation from BlackRock (NYSE:BLK), Morgan Stanley (NYSE:MS) and Wells Fargo (NYSE:WFC) as evidence of traditional finance embracing blockchain.

Birla expects tokenization and 24/7 markets to expand access to financial assets.

Evernorth looks to focus on deploying its XRP treasury and developing institutional-grade infrastructure on the XRP Ledger.

Image: Shutterstock

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