NetApp (NTAP - Free Report) ended the recent trading session at $168.86, demonstrating a -1.67% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.42%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 0.29%.
The stock of data storage company has risen by 7.02% in the past month, leading the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 2.2%.
Market participants will be closely following the financial results of NetApp in its upcoming release. On that day, NetApp is projected to report earnings of $2.11 per share, which would represent year-over-year growth of 36.13%. Simultaneously, our latest consensus estimate expects the revenue to be $1.83 billion, showing a 17.43% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.88 per share and revenue of $7.48 billion, which would represent changes of +9.23% and +8.07%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for NetApp. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NetApp is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, NetApp is presently being traded at a Forward P/E ratio of 19.35. This indicates a premium in contrast to its industry's Forward P/E of 16.26.
Investors should also note that NTAP has a PEG ratio of 2.53 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 1.72.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NTAP in the coming trading sessions, be sure to utilize Zacks.com.
UiPath (PATH - Free Report) closed the most recent trading day at $11.68, moving -1.02% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.42%. Meanwhile, the Dow experienced a rise of 0.29%, and the technology-dominated Nasdaq saw an increase of 0.29%.
Prior to today's trading, shares of the enterprise automation software developer had gained 10.8% outpaced the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 2.2%.
Investors will be eagerly watching for the performance of UiPath in its upcoming earnings disclosure. In that report, analysts expect UiPath to post earnings of $0.15 per share. This would mark no growth from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $397.59 million, showing a 9.91% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.8 per share and a revenue of $1.78 billion, indicating changes of +11.11% and +10.4%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for UiPath. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 6.13% rise in the Zacks Consensus EPS estimate. UiPath is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note UiPath's current valuation metrics, including its Forward P/E ratio of 14.75. This indicates a discount in contrast to its industry's Forward P/E of 19.73.
Investors should also note that PATH has a PEG ratio of 0.7 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Software industry had an average PEG ratio of 1.06 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Monday.com (MNDY - Free Report) closed at $82.47 in the latest trading session, marking a -1.41% move from the prior day. This change lagged the S&P 500's daily gain of 0.42%. Elsewhere, the Dow saw an upswing of 0.29%, while the tech-heavy Nasdaq appreciated by 0.29%.
The project management software developer's stock has climbed by 5.11% in the past month, exceeding the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 2.2%.
The investment community will be closely monitoring the performance of Monday.com in its forthcoming earnings report. The company is expected to report EPS of $1.14, up 4.59% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $354.95 million, indicating a 18.71% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.49 per share and a revenue of $1.47 billion, indicating changes of +2.05% and +19.34%, respectively, from the former year.
Any recent changes to analyst estimates for Monday.com should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Monday.com is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Monday.com has a Forward P/E ratio of 18.65 right now. This valuation marks a discount compared to its industry average Forward P/E of 19.73.
Also, we should mention that MNDY has a PEG ratio of 1.48. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. MNDY's industry had an average PEG ratio of 1.06 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Chipotle Mexican Grill (CMG - Free Report) closed at $35.25 in the latest trading session, marking a +1.88% move from the prior day. This change outpaced the S&P 500's 0.42% gain on the day. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.29%.
Shares of the Mexican food chain have appreciated by 10.72% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 0.24%, and the S&P 500's gain of 2.2%.
The investment community will be paying close attention to the earnings performance of Chipotle Mexican Grill in its upcoming release. The company is slated to reveal its earnings on July 29, 2026. It is anticipated that the company will report an EPS of $0.32, marking a 3.03% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $3.32 billion, up 8.25% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.13 per share and a revenue of $12.91 billion, indicating changes of -3.42% and +8.28%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Chipotle Mexican Grill. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.36% lower. Chipotle Mexican Grill presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Chipotle Mexican Grill is currently exchanging hands at a Forward P/E ratio of 30.69. Its industry sports an average Forward P/E of 19.93, so one might conclude that Chipotle Mexican Grill is trading at a premium comparatively.
One should further note that CMG currently holds a PEG ratio of 2.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Retail - Restaurants industry had an average PEG ratio of 1.94 as trading concluded yesterday.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 181, placing it within the bottom 27% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
July 10, 2026 17:26 ET | Source: Burtech Acquisition Corp II
NEW YORK, July 10, 2026 (GLOBE NEWSWIRE) -- Burtech Acquisition Corp II (the “Company”), a special purpose acquisition company formed as a Cayman Islands exempted company, today announced that commencing July 14, 2026, holders of the units sold in the Company’s initial public offering completed on May 21, 2026, may elect to separately trade the Class A ordinary shares of the Company and the warrants included in such units on the Nasdaq Global Market tier of The Nasdaq Stock Market LLC (“Nasdaq”). Each unit consists of one Class A ordinary share of the Company, $0.0001 par value per share, and one redeemable warrant, each warrant entitling the holder to purchase one Class A ordinary share upon exercise, at a price of $11.50 per share.
The Class A ordinary shares and warrants that are separated will trade on Nasdaq under the symbols “BRKH” and “BRKHW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Those units not separated will continue to trade on Nasdaq under the symbol “BRKHU.” Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and warrants.
The units were initially offered by the Company in an underwritten offering. D Boral Capital LLC acted as lead book-running manager.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Burtech Acquisition Corp II
Burtech Acquisition Corp II is a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses in any industry, sector or geographic location, but with a focus on acquiring a business that participates within the retail, lifestyle, hospitality, technology or real estate markets..
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering and the Company’s search for and/or completion of an initial business combination. No assurance can be given that the offering will be completed on the terms described, or at all, or that the Company will complete an initial business combination. Forward-looking statements are subject to numerous risks, conditions and other uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”), declared effective on May 13, 2026. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
On July 10, 2026, Scorpio Tankers Inc STNG shares rose 4.0% to $79.32. Over the past year, the stock has shown remarkable performance, gaining 79.0%, and year-to-date it is up 57.9%. The shares have fluctuated between a 52-week high of $87.39 and a low of $41.73.
GF Value™ verdict: Current price $79.32 vs GF Value™ of $55.16, indicating the stock is 43.8% overvalued.GF Score™ of 66/100, which is considered above average.Most notable signal: Insiders sold $1.2 million in the last 3 months, showing no buying activity. Is STNG Overvalued or Undervalued? The current price of Scorpio Tankers Inc STNG at $79.32 is significantly above the GF Value™ estimate of $55.16, which suggests that the stock is overvalued by 43.8%. This discrepancy indicates a lack of margin of safety for potential investors, as the shares are trading further away from their intrinsic value. The GF Valuation label categorizes STNG as significantly overvalued, which raises concerns about the sustainability of its current market price. Investors should consider the risks associated with an overvalued stock, including the potential for price corrections if the company's performance does not meet market expectations.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. The high valuation relative to the calculated intrinsic value signals caution for those looking to enter a position at this time.
How Does STNG's Valuation Compare to Its History? MetricCurrentHistorical P/E (TTM)7.8x5.8x Forward P/E6.1x- Scorpio Tankers' current P/E (TTM) of 7.8x is 34% above its 5-year median P/E of 5.8x, indicating the stock is trading at a premium compared to its historical valuation. This analysis aligns with the GF Value™ verdict that the stock is overvalued, as the elevated P/E ratio suggests a higher market expectation of future earnings that may not be justifiable based on historical performance.
What Does STNG's GF Score™ Tell Us? MetricRating GF Score™66 Financial Strength8/10 Profitability6/10 Growth3/10 Valuation5/10 Momentum3/10 The GF Score™ of 66/100 indicates that Scorpio Tankers has above-average potential for long-term returns. The strongest area is Financial Strength, rated at 8/10, suggesting the company is in a solid position to manage its debts and sustain operations. However, the weakest area is Growth, with a rating of only 3/10, indicating challenges in expanding its business. This mixed performance across key metrics suggests that while STNG has a stable financial foundation, it may struggle to deliver significant growth, which is crucial for justifying its current valuation.
What Are Insiders Doing with STNG Stock? In recent months, insiders at Scorpio Tankers Inc have sold a total of $1.2 million worth of shares, with no buying activity reported. This trend of selling could suggest a lack of confidence among insiders regarding the stock's current price level or future performance. Such patterns may also indicate that insiders expect the stock may not sustain its upward momentum, leading to caution among potential investors.
What This Means for Investors Based on the GF Value™ analysis, Scorpio Tankers Inc STNG is considered overvalued at its current price of $79.32. Given the significant premium over the GF Value™ estimate of $55.16, investors may want to exercise caution and closely monitor the stock's performance moving forward.
For the complete analysis, visit the Scorpio Tankers Inc STNG stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is STNG's GF Score™?
STNG has a GF Score™ of 66/100, which suggests it has above-average potential for long-term returns based on various key metrics.
Is STNG overvalued or undervalued?
STNG is considered overvalued, with its current price of $79.32 exceeding the GF Value™ estimate of $55.16 by 43.8%.
What is STNG's P/E ratio?
STNG has a P/E (TTM) ratio of 7.8x, which is 34% higher than its 5-year median P/E of 5.8x, indicating it is trading at a premium relative to its historical valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Groupon (GRPN - Free Report) ended the recent trading session at $26.05, demonstrating a -2.1% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.42%. Meanwhile, the Dow experienced a rise of 0.29%, and the technology-dominated Nasdaq saw an increase of 0.29%.
The online daily deal service's shares have seen an increase of 57.74% over the last month, surpassing the Retail-Wholesale sector's gain of 0.24% and the S&P 500's gain of 2.2%.
Analysts and investors alike will be keeping a close eye on the performance of Groupon in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.07, signifying a 115.22% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $127.42 million, up 1.37% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.16 per share and revenue of $519.48 million, which would represent changes of +92.23% and +4.23%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Groupon. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 23.68% lower. At present, Groupon boasts a Zacks Rank of #3 (Hold).
The Internet - Commerce industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 181, positioning it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Not for distribution to United States newswire services or for dissemination in the United States TORONTO, ON / ACCESS Newswire / July 10, 2026 / LNG Energy Group Corp. (TSXV:LNGE)(TSXV:LNGE.WT)(OTC PINK:LNGNF)(FWB:E26) (the "Company" or "LNG Energy Group") today provided an update on its operations and recent corporate developments. Colombia Production and Realized Prices During the first half of 2026, daily production averaged approximately 5,449 Mcf/d of natural gas and 36 bbl/d of condensate.
On July 10, 2026, Dana Inc (DAN) shares rose 3.6% today, bringing the current price to $27.33. This movement comes after a turbulent month, where the stock has
On July 10, 2026, National Beverage Corp (FIZZ) shares rose 3.9% today, closing at $33.82. This positive move comes amidst a challenging price trajectory, with
The New York Times accused the U.S. Equal Employment Opportunity Commission of illegally retaliating against the newspaper for its coverage of the agency by suing it for passing over a white man for a top editorial role, it said in a court filing on Friday.
, /PRNewswire/ -- First Horizon Bank (NYSE: FHN or "First Horizon") announced today the donation of its former banking center located at 4011 Canal Street in New Orleans to United Way of Southeast Louisiana in support of the organization's Prosperity Center initiative. The donation builds on both organizations' shared commitment to financial empowerment and long-term community stability throughout the Greater New Orleans region.
First Horizon Bank and United Way Prosperity Center. Pictured from left to right are: Tony Adams, First Horizon Bank; Brittany Elder, United Way of Southeast Louisiana; Meghan Donelon, First Horizon Bank; Michael Williamson, United Way of Southeast Louisiana "At First Horizon Bank, we believe strong communities are built through meaningful partnerships and investments that create lasting impact," said Tony Adams, Gulf States Regional President for First Horizon Bank and board member of United Way of Southeast Louisiana. "We are proud to support United Way and its continued work to create greater opportunity for individuals and families across our region."
"United Way has made a tremendous impact in this space, helping families access critical resources and support to build stronger futures," said Meghan Donelon, Commercial Banking Group Manager at First Horizon Bank and Board Chair of United Way of Southeast Louisiana for 2026–2027. "They have truly made this space their own, and First Horizon Bank is proud to help make it their permanent home. This donation reflects the power of partnership and our shared commitment to creating lasting change across Southeast Louisiana."
The Canal Street location will allow United Way to build on the Prosperity Center's established presence and continue addressing barriers to economic mobility throughout Southeast Louisiana. The center offers education, workforce development resources, housing counseling, tax preparation, and other services designed to help individuals and families build more secure financial futures.
"This generous donation from First Horizon Bank marks a transformative milestone for the J. Wayne Leonard Prosperity Center," said Michael Williamson, President and CEO of United Way of Southeast Louisiana. "This investment ensures that the center can continue serving as a gateway to opportunity for families across Southeast Louisiana. As we look ahead, the J. Wayne Leonard Prosperity Center will play an increasingly vital role in helping more people achieve economic stability, build financial resilience, and create pathways to lasting prosperity for generations to come."
About First Horizon Bank
First Horizon Corp. (NYSE: FHN), with $84.1 billion in assets as of March 31, 2026, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states concentrated in the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
The first five months of 2026 were rough on Vertex Pharmaceuticals (VRTX 2.22%). The biotech's shares moved in the wrong direction through early June. However, the drugmaker has bounced back in style over the past month, with its stock gaining 10%. Vertex Pharmaceuticals is now up 9% this year and recently hit a fresh 52-week high. Is there more upside left for the stock? Let's find out.
Potential catalysts on the horizon Several recent developments explain why the market is increasingly excited about Vertex Pharmaceuticals' prospects. First, the company recently received a label expansion for Casgevy, a gene-editing medicine for sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT), two blood-related diseases. Casgevy is now indicated to treat patients as young as two who have TDT or SCD (it was previously approved for people 12 and older).
Image source: The Motley Fool.
This regulatory milestone adds 5,500 patients to Vertex's addressable market, but, even more importantly, it allows patients and their families to treat these diseases before they have had time to significantly impact their lives. Casgevy has not generated much revenue since its 2023 approval. This label expansion should help boost its sales. Second, Vertex Pharmaceuticals is awaiting approval for povetacicept, an investigational medicine for IgA nephropathy (IgAN), a kidney disease. U.S. regulators could give this therapy the green light by the end of November.
Povetacicept would be a key addition to Vertex's lineup. Given the more than 1.5 million IgAN patients worldwide and the medicine's potential approval across other indications, some analysts project it could reach peak sales of about $4.3 billion. Third, Vertex Pharmaceuticals has several other late-stage clinical trial candidates that could make good progress. For instance, the company is developing inaxaplin, a potential therapy for APOL-1-mediated kidney disease, and expects some data readouts later this year.
Lastly, Vertex Pharmaceuticals announced the acquisition of Crinetics Pharmaceuticals (CRNX 0.05%), a biotech company focused on developing medicines for endocrine diseases, for $10 billion in cash. Vertex estimates that this buyout adds more than $5 billion in potential peak annual sales to its lineup. All these developments make Vertex Pharmaceuticals' medium-term prospects attractive.
Today's Change
(
-2.22
%) $
-11.03
Current Price
$
485.47
The core business is still going strong Vertex Pharmaceuticals remains the leader in its core therapeutic area: developing medicines for patients with cystic fibrosis (CF). This rare disease causes thick mucus to form in the lungs, disrupting the airways and leading to chronic infections. Vertex remains the only game in town. It markets the only drugs that treat the underlying causes of CF. Though the biotech has been dominating this area for a long time, business is still good. In the first quarter, Vertex Pharmaceuticals' revenue increased by 8% year over year to $2.99 billion. The company's adjusted earnings per share climbed 10% year over year to $4.47.
Vertex Pharmaceuticals still has a decent patient population to address as it expands into new territories and earns new label expansions, especially for younger patients. The company's core business should remain a growth driver over the next decade, as its most important products won't face patent cliffs until the late 2030s. Even though some pharmaceutical companies are developing competing therapies, all previous attempts have failed. Successes may come, eventually, but that's also why Vertex has diversified its lineup.
The company's newer non-CF approvals, including Casgevy and Journavx, a medicine for acute pain, should start meaningfully contributing to top-line growth within a couple of years. Vertex expects at least $500 million in non-CF revenue this year. That will represent less than 5% of its revenue, but with Casgevy gaining traction thanks to label expansions and Journavx meeting strong demand for non-opioid pain drugs, they should post solid sales growth over the next few years. So, Vertex Pharmaceuticals still has plenty of upside ahead, even though it recently hit a new 52-week high. Investors can safely hold this stock for the long term.
STAMFORD, Conn.--(BUSINESS WIRE)--Webster Financial Corporation (NYSE: WBS, “the company”), the holding company for Webster Bank, N.A., today announced it will release its second quarter 2026 earnings after the close of U.S. markets on July 21, 2026.
The company will not host an earnings call or provide an accompanying presentation due to its pending merger with Banco Santander, S.A.
About Webster Financial Corporation:
Webster Financial Corporation (“Webster”) (NYSE:WBS) is the holding company for Webster Bank, N.A. (“Webster Bank”). Founded in 1935 and headquartered in Stamford, CT, Webster is a values-driven organization with more than $80 billion in total assets. Webster Bank is a commercial bank that provides a wide range of financial products and services to businesses, individuals, and families across three differentiated lines of business: Commercial Banking, Healthcare Financial Services, and Consumer Banking. While its core footprint spans the Northeast from the New York metropolitan area to Rhode Island and Massachusetts, certain businesses operate in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
July 10, 2026 16:30 ET | Source: InterDigital, Inc.
WILMINGTON, Del., July 10, 2026 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC) (the “Company” or “InterDigital”) announced today an adjustment to the conversion rate applicable to its 3.50% Senior Convertible Notes due 2027 (the “Notes”). In connection with the upcoming payment of the Company’s regular quarterly cash dividend previously announced by the Company on June 11, 2026, the conversion rate for the Notes increased to 13.0351 shares of the Company’s common stock per $1,000 principal amount of Notes effective July 8, 2026, the ex-dividend date for the quarterly cash dividend.
About InterDigital
InterDigital is a global research and development company focused primarily on wireless, video, artificial intelligence (“AI”), and related technologies. We design and develop foundational technologies that enable connected, immersive experiences in a broad range of communications and entertainment products and services. We license our innovations worldwide to companies providing such products and services, including makers of wireless communications devices, consumer electronics, IoT devices, cars and other motor vehicles, and providers of cloud-based services such as video streaming. As a leader in wireless technology, our engineers have designed and developed a wide range of innovations that are used in wireless products and networks, from the earliest digital cellular systems to 5G and today’s most advanced Wi-Fi technologies. We are also a leader in video processing and video encoding/decoding technology, with a significant AI research effort that intersects with both wireless and video technologies. Founded in 1972, InterDigital is listed on Nasdaq.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
The casino giant has been negotiating a potential deal with Barry Diller's People Inc. after the media mogul offered to buy the casino giant in early June, according to people familiar with the matter.
, /PRNewswire/ -- Cognizant (Nasdaq: CTSH) has released the following notice:
HERMAN JONES LLP
SERINA M. VASH
153 Central Avenue #131
Westfield, NJ 07090
[email protected]
Telephone: (404) 504-6516
Facsimile: (404) 504-6501
[Additional Counsel on Signature Page]
Attorneys for Plaintiff
UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF NEW JERSEY
VISWANATHA PALEMPALLI,
Derivatively on Behalf of COGNIZANT
TECHNOLOGY SOLUTIONS CORPORATION,
Plaintiff,
v.
MICHAEL PATSALOS-FOX, JOHN
N. FOX, JR., MAUREEN BREAKIRON-
EVANS, LEO S. MACKAY, JR., ZEIN
ABDALLA, FRANCISCO D'SOUZA,
KAREN MCLOUGHLIN, RAJEEV MEHTA,
GORDON J. COBURN, STEVEN
SCHWARTZ, RAMAKRISHNAN
CHANDRASEKARAN, JOHN E. KLEIN,
JONATHAN CHADWICK, THOMAS M.
WENDEL, LAKSHMI NARAYANAN, and
ROBERT E. WEISSMAN,
Defendants,
-and-
COGNIZANT TECHNOLOGY SOLUTIONS
CORPORATION, a
Delaware Corporation,
Nominal Defendant.
)
)
)
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Case No. 2:21-cv-12025-EP-SDA
SUMMARY NOTICE OF PENDENCY
AND PROPOSED SETTLEMENT OF
STOCKHOLDER DERIVATIVE ACTION
EXHIBIT B-2
TO: ALL OWNERS OF THE COMMON STOCK OF COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION ("COGNIZANT" OR THE "COMPANY") CURRENTLY AND AS OF NOVEMBER 25, 2025:
THIS NOTICE RELATES TO THE PENDENCY AND PROPOSED SETTLEMENT OF STOCKHOLDER DERIVATIVE LITIGATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. IF YOU ARE A COGNIZANT STOCKHOLDER, THIS NOTICE CONTAINS IMPORTANT INFORMATION ABOUT YOUR RIGHTS.
THIS DERIVATIVE ACTION IS NOT A "CLASS ACTION." THUS, THERE IS NO COMMON FUND UPON WHICH YOU CAN MAKE A CLAIM FOR MONETARY PAYMENT. IF YOU DO NOT OBJECT TO THE TERMS OF THE PROPOSED SETTLEMENT, THE AMOUNT OF ATTORNEYS' FEES AND EXPENSES, OR THE AMOUNT OF THE SERVICE AWARD DESCRIBED IN THIS NOTICE, YOU ARE NOT OBLIGATED TO TAKE ANY ACTION.
PLEASE TAKE NOTICE that the parties to the above-captioned stockholder derivative action have reached an agreement to settle the derivative claims brought on behalf of and for the benefit of Cognizant.
The terms of the settlement are set forth in a Stipulation and Agreement of Settlement dated November 25, 2025 (the "Stipulation").1 This notice should be read in conjunction with, and is qualified in its entirety by reference to, the text of the Stipulation, which has been filed with the U.S. District Court for the District of New Jersey. A link to the text of the Stipulation and the full-length Long-Form Notice of Pendency and Proposed Settlement of Stockholder Derivative Action may be found on the "Investors" page of Cognizant's website at http://investors.cognizant.com.
1 All capitalized terms herein have the same meanings as set forth in the Stipulation.
Under the terms of the Stipulation, as a part of the proposed Settlement, the Defendants shall cause their insurers to pay to Cognizant a sum of $5.5 million (the "Settlement Fund"), minus the court-approved Fee and Expense Amount. Defendants acknowledge that Plaintiff's and Plaintiff's Counsel's demand, litigation, and settlement efforts caused Defendants' insurers to agree to make the cash payment to Cognizant.
In consideration of the substantial benefit conferred upon Cognizant as a direct result of the Settlement and the efforts of Plaintiff and Plaintiff's Counsel in the Derivative Action, Plaintiff's Counsel will request Court approval of an award of attorneys' fees and expenses not to exceed $1,830,000 (or approximately 33% of the Settlement Fund). Plaintiff's Counsel also will apply to the Court for a service award of up to $15,000 to Plaintiff, subject to Court approval, which will be paid from any approved Fee and Expense Amount.
A hearing will be held on SEPTEMBER 14, 2026, at 11:00 a.m. before the Honorable Stacey D. Adams of the United States District Court for the District of New Jersey at the Frank R. Lautenberg Post Office and U.S. Courthouse, 2 Federal Square, Courtroom 9, Newark, New Jersey 07102 (the "Settlement Hearing"), at which the Court will determine whether to approve the Settlement.
Any Current Cognizant Stockholder has a right, but is not required, to appear and to be heard at the Settlement Hearing, providing that he, she, or it is a stockholder of record or beneficial owner of Cognizant common stock and was a stockholder of record or beneficial owner of Cognizant common stock as of November 25, 2025. Any Current Cognizant Stockholder who satisfies this requirement may enter an appearance through counsel of such stockholder's own choosing and at such stockholder's own expense, or may appear on his or her own. However, you shall not be heard at the Settlement Hearing unless, no later than August 31, 2026, you have filed with the Court a written notice of objection containing the following information:
Your name, legal address, and telephone number; The case name and number (Palempalli v. Patsalos-Fox, et al., Case No. 2:21-cv-12025-EP-SDA); Proof of being a Cognizant stockholder currently and as of November 25, 2025; The date(s) you acquired your Cognizant stock; A statement of each objection being made; Notice of whether you intend to appear at the Settlement Hearing (you are not required to appear); and Copies of any papers you intend to submit to the Court, along with the names of any witness(es) you intend to call to testify at the Settlement Hearing and the subject(s) of their testimony. If you wish to object to the proposed Settlement, you must file the written objection described above with the Court on or before August 31, 2026. All written objections and supporting papers must be filed with the Clerk of the Court, U.S. District Court for the District of New Jersey, at the Martin Luther King Building and U.S. Courthouse, 50 Walnut Street, Newark, N.J. 07101, and served by that date on each of the following Settling Parties' counsel:
Counsel for Plaintiff:
Stephen J. Oddo
ROBBINS LLP
5060 Shoreham Place, Suite 300
San Diego, CA 92122
Counsel for Defendants:
Daniel Roeser
Charles A. Brown
GOODWIN PROCTER LLP
The New York Times Building
620 Eighth Avenue
New York, NY 10018
James Holsey Keale
TANENBAUM KEALE LLP
Three Gateway Center, Suite 1301
100 Mulberry Street
Newark, New Jersey 07102
Nina Yadava
Sarah D. Efronson
JONES DAY
250 Vesey Street
New York, New York 10281
Andrew J. Ehrlich
Alison R. Benedon
PAUL, WEISS, RIFKIND, WHARTON &
GARRISON LLP
1285 Avenue of the Americas
New York, New York 10019
YOUR WRITTEN OBJECTIONS MUST BE POSTMARKED OR ON FILE WITH THE CLERK OF THE COURT NO LATER THAN AUGUST 31, 2026.
Only stockholders who have filed and delivered valid and timely written notices of objection will be entitled to be heard at the Settlement Hearing unless the Court orders otherwise. If you fail to object in the manner and within the time prescribed above, you shall be deemed to have waived your right to object (including the right to appeal) and shall forever be barred, in this proceeding or in any other proceeding, from raising such objection(s).
Inquiries may be made to Plaintiff's Counsel: Robbins LLP, 5060 Shoreham Place, Suite 300, San Diego, California 92122, telephone: (619) 525-3990.
PLEASE DO NOT CONTACT THE COURT
OR DEFENDANTS REGARDING THIS NOTICE
DATED: June 29, 2026
BY ORDER OF THE COURT
U.S. DISTRICT COURT OF NEW JERSEY
About Cognizant
Cognizant (NASDAQ: CTSH) is an AI builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization's unique context into technology systems that amplify human potential, realize tangible returns and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.ai or @cognizant.
New York, New York--(Newsfile Corp. - July 10, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of AeroVironment, Inc. (NASDAQ: AVAV) between June 25, 2025 and March 10, 2026, inclusive (the "Class Period"), of the important July 27, 2026 lead plaintiff deadline.
SO WHAT: If you purchased AeroVironment securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the AeroVironment class action, go to https://rosenlegal.com/cases/aerovironment-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 27, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) AeroVironment understated the likelihood that it would imminently face competition from other vendors for the work it performed in connection with the U.S. Space Force's Satellite Communication Augmentation Resources ("SCAR") program and the U.S. Space Force's ongoing efforts to modernize the Satellite Control Network ("SCN"); (2) accordingly, defendants overstated AeroVironment's business and financial prospects; and (3) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the AeroVironment class action, go to https://rosenlegal.com/cases/aerovironment-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
-------------------------------
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304797
Source: The Rosen Law Firm PA
Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.
SAN DIEGO, July 10, 2026 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of AeroVironment, Inc. (NASDAQ: AVAV) securities between June 25, 2025 and March 10, 2026, both dates inclusive (the “Class Period”), have until Monday, July 27, 2026 to seek appointment as lead plaintiff of the AeroVironment class action lawsuit. Captioned Norrell v. AeroVironment, Inc., No. 26-cv-01429 (E.D. Va.), the AeroVironment class action lawsuit charges AeroVironment and certain of AeroVironment’s current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the AeroVironment class action lawsuit, please provide your information here:
You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at [email protected].
CASE ALLEGATIONS: AeroVironment designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses. The AeroVironment class action lawsuit alleges on May 1, 2025, AeroVironment announced it had completed the acquisition of BlueHalo, LLC, which had previously been awarded a contract to support the U.S. Space Force’s Satellite Communication Augmentation Resource (“SCAR”) program. The SCAR program represents the U.S. Space Force’s efforts to modernize antennas used by the Satellite Control Network (“SCN”), which is comprised of 19 fixed antennas across the world and executes tasks such as tracking satellites, transmitting signals, and conducting telemetry, or accessing data from satellites to assess their status and health, according to the complaint.
The AeroVironment class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) AeroVironment understated the likelihood that it would imminently face competition from other vendors for the work it performed in connection with the SCAR program and the U.S. Space Force’s ongoing efforts to modernize the SCN; and (ii) accordingly, defendants overstated AeroVironment’s business and financial prospects.
The AeroVironment class action lawsuit further alleges that on January 20, 2026, AeroVironment announced that the U.S. government had issued a stop work order on AeroVironment’s agreement to deliver BADGER systems to the SCAR program. In the same announcement, AeroVironment allegedly stated that the stop work order “allows for the parties to negotiate an amended agreement for the future of the SCAR program” and that “[t]he Company expects to continue to deliver capabilities and products for the SCAR program.” On this news, the price of AeroVironment stock fell nearly 16%, according to the complaint.
Then, on March 2, 2026, SpaceNews allegedly reported that the U.S. Space Force was reopening the SCAR program and “reassessing how to move forward.” Space News quoted Colonel Owen Stevens, director of contracting at the Space Rapid Capabilities Office, which supervised SCAR, as stating: “We have been in conversations with the SAE [senior acquisition executive] for a little while now, and we are going to move into a new acquisition strategy for SCAR,” the complaint alleges. On this news, the price of AeroVironment stock fell more than 17%, according to the complaint.
Finally, on March 10, 2026, the complaint alleges that AeroVironment announced its financial results for the third quarter of fiscal year 2026. Among other items, AeroVironment allegedly reported a third-quarter operating loss of $179.0 million, compared to an operating loss of $3.1 million for the same period in fiscal year 2025. These financial results reflected the impact of a $151.3 million goodwill impairment in AeroVironment’s space division after the stop work order on AeroVironment’s BADGER systems built for the SCAR program, according to the AeroVironment class action lawsuit. AeroVironment also allegedly reported that the U.S. Space Force had terminated AeroVironment’s contract concerning the SCAR program, and as a result, it would have to “recompete” for the SCAR program. On this news, the price of AeroVironment stock fell more than 6%, the complaint alleges.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired AeroVironment securities during the Class Period to seek appointment as lead plaintiff in the AeroVironment class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the AeroVironment class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the AeroVironment class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the AeroVironment class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
MILWAUKEE--(BUSINESS WIRE)--Sensient Technologies Corporation (NYSE: SXT) will hold its earnings call and webcast to discuss 2026 second quarter results at 8:30 a.m. CDT on Friday, July 24, 2026. Investors may access the live webcast on the Company’s web site at investor.sensient.com. Alternatively, investors may join the conference call by contacting Chorus Call Inc. at (844) 492-3726 or (412) 317-1078.
A webcast replay will be available on the Company’s web site following the call. The call transcript will be available on the Company’s web site on or after July 28, 2026.
About Sensient Technologies
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, and personal care industries. Sensient’s customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.
NEW YORK--(BUSINESS WIRE)--Freedom Holding Corp. (Nasdaq: FRHC), an international financial technology group, today announced that it has completed an offering of 2,374,356 shares of its common stock pursuant to Regulation S of the Securities Act of 1933 (the “Securities Act”), raising aggregate gross proceeds of nearly US$300 million.
This announcement is not and does not form part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities offered in the offering mentioned above will not be or have not been registered under the Securities Act and may not be offered or sold in the United States or to U.S. persons (other than distributors) absent registration or an applicable exemption from the registration requirements of the Securities Act. Hedging transactions involving the securities may not be conducted unless in compliance with the Securities Act.
MEMPHIS, Tenn., July 10, 2026 (GLOBE NEWSWIRE) -- AutoZone (NYSE: AZO) today announced that Grace Sharpley, Vice President, Merchandising Pricing and Analysis, has been promoted to Senior Vice President, Finance, effective July 10, 2026. Grace will join the Company’s Executive Committee and report to Jamere Jackson, Chief Financial Officer.
Grace is a 12-year AutoZoner who has held several progressive leadership roles during her AutoZone career in Audit, Finance, and as Vice President, Strategy, and Vice President, Merchandising Pricing, and Analysis.
"We are very pleased to announce Grace's promotion and addition to the Executive Committee. Her leadership, expertise, and consistent delivery of strong results position her well to help us drive continued growth at AutoZone," said Phil Daniele, President and Chief Executive Officer.
About AutoZone (NYSE: AZO)
As of May 26, 2026, AutoZone had 6,766 stores in the U.S., 933 in Mexico and 157 in Brazil, for a total store count of 7,856.
AutoZone is a leading retailer and distributor of automotive replacement parts and accessories in the Americas. Each store carries an extensive product line for cars, sport utility vehicles, vans and light duty trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. The majority of stores have a Commercial sales program that provides prompt delivery of parts and other products and Commercial credit to local, regional and national repair garages, dealers, service stations, fleet owners and other accounts. AutoZone also sells automotive hard parts, maintenance items, accessories and non-automotive products through www.AutoZone.com, and our Commercial customers can make purchases through www.AutoZonePro.com. Additionally, we sell the ALLDATA brand of automotive diagnostic, repair, collision and shop management software through www.ALLDATA.com. We also provide product information on our Duralast-branded products through www.DuralastParts.com. AutoZone does not derive revenue from automotive repair or installation services.
Contact Information:
Financial: Brian Campbell at (901) 495-7005, [email protected]
Media: Jennifer Hughes at (901) 495-6022, [email protected]
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BIRMINGHAM, Ala., July 10, 2026 /PRNewswire/ -- The Board of Directors of Vulcan Materials Company (NYSE: VMC) today declared a quarterly cash dividend of $0.52 per share on its common stock. The dividend will be payable on September 2, 2026, to shareholders of record at the close of business on August 13, 2026.
Vulcan Materials Company, a member of the S&P 500 Index with headquarters in Birmingham, Alabama, is the nation's largest producer of construction aggregates—primarily crushed stone, sand and gravel—and a major producer of aggregates-based construction materials, including asphalt and ready-mixed concrete. For additional information about Vulcan, go to www.vulcanmaterials.com.
Investor Contact: Mark Warren (205) 298-3220
Media Contact: Jack Bonnikson (205) 298-3220
July 10, 2026 16:01 ET | Source: BridgeBio Pharma, Inc.
PALO ALTO, Calif., July 10, 2026 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a biopharmaceutical company focused on developing medicines for genetic conditions, today announced that on July 7, 2026, the compensation committee of BridgeBio’s board of directors approved equity grants to 37 new employees in restricted stock units for an aggregate of 83,283 shares of the Company’s common stock. One-fourth of the shares underlying each employee’s restricted stock units will vest on August 16, 2027, with one-twelfth of the remaining shares underlying each such employee’s restricted stock units vesting on a quarterly basis thereafter, in each case, subject to each such employee’s continued employment with the Company or one of its subsidiaries on such vesting dates.
The above-described awards were each granted as an inducement material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted pursuant to the terms of the Plan. The Plan was adopted by BridgeBio’s board of directors in November 2019, and amended and restated on February 10, 2023 and on December 13, 2023.
About BridgeBio Pharma, Inc.
BridgeBio exists to develop transformative medicines for genetic conditions. Millions of people worldwide living with genetic conditions lack treatment options, often because drug development for small patient populations can be commercially challenging. We aim to bridge the gap between advancements in genetic science and meaningful medicines for underserved patient populations. Our decentralized, hub-and-spoke model is designed for speed, precision, and scalability. Autonomous and empowered teams focus on individual conditions, while a central hub provides the clinical, regulatory, and commercial capabilities needed to bring innovation to market. For more information, visit bridgebio.com and follow us on LinkedIn, X, Facebook, Instagram, YouTube, and TikTok.
BridgeBio Media Contact:
Bubba Murarka, Executive Vice President, Corporate Development [email protected]
(650)-789-8220
Shares of Remitly Global (RELY +0.89%) were soaring 62.4% in the first half of 2026, according to data from S&P Global Market Intelligence. The remittance disruptor is taking market share and finally showing some profitability, which is getting investors bullish on the stock.
After years of worries about disruption from novel technologies like stablecoins, Remitly is finally showing its might to investors. Here's why the stock was soaring in 2026, and whether it is still a buy for your portfolio today.
Today's Change
(
0.89
%) $
0.21
Current Price
$
23.77
Fast growth and hints of profitability Remitly has delivered consistent gains for investors in 2026 due to its market share gains in remittances, or international money transfers. In the first quarter, send volume was up 37% to $22.1 billion, revenue was up 25% to $453 million, and, importantly, net income was a positive $49.1 million, up 332% year-over-year.
There is a massive opportunity for Remitly to deliver an easy-to-use money transfer service to tens of millions of customers around the globe, which is allowing it to steal share from existing players while also expanding the total addressable market. Management is now expanding into new sectors, including card spending, mobile wallets, and business transfers.
At the same time, it is expanding profit margins. These dual engines of growth and profitability are why investors are now more bullish on Remitly than they've been in a long while.
Image source: Getty Images.
Should you buy Remitly stock? Even after this jump, Remitly's stock is still down 51% from its highs set at the time of its 2021 IPO. With monster revenue growth over the past few years, its price-to-sales ratio (P/S) is still below 3. With strong profit margins and further room to grow, this P/S ratio still feels cheap for anyone looking to add to their Remitly position today.
For example, in 2026, Remitly expects revenue to grow by 20% to just under $2 billion. If double-digit growth continues, it will soon reach $3 billion. With EBIT (earnings before interest and taxes) margin climbing, we could see a 20% bottom-line profit margin a few years down the line, especially once Remitly stops its large marketing investments.
A 20% profit margin on $3 billion in revenue is $600 million in earnings, which is still a cheap earnings multiple compared to Remitly's market cap of $5 billion. It is not as cheap as it was at the beginning of this year, but Remitly Global still looks like a solid buy for investors today.
, /PRNewswire/ -- Ares Dynamic Credit Allocation Fund, Inc. ("ARDC" or the "Fund") (NYSE: ARDC) announced today the declaration of its distribution for the month of July 2026 of $0.1125 per common share, payable as noted below.
The following dates apply to the declared distribution:
Ex-Date: July 20, 2026
Record Date: July 20, 2026
Payable Date: July 31, 2026
Per Share Amount: $0.1125
Based on the Fund's current share price of $12.82 (as of its close on July 9, 2026), the distribution represents an annualized distribution rate of approximately 10.53% (calculated by annualizing the distribution amount and dividing it by the current price). Information regarding the distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured. The distribution rate should not be considered the yield or total return on an investment in the Fund.
The timing and amount of future distributions, if any, are at the discretion of the Fund. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to the Fund's stockholders in the event that a portion of a monthly distribution is derived from sources other than undistributed net investment income, such as from short-term capital gain, long-term capital gain, or return of capital. Such notices will also be posted on the Fund's website at www.arespublicfunds.com.
The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment performance during the remainder of its fiscal year and may be subject to change based on tax regulations. The final determination of the source of these distributions will be made after the Fund's fiscal year end. If necessary, the Fund may elect to pay an adjusting distribution in December that includes any additional income and net realized capital gains in excess of the monthly distributions for that year to satisfy the minimum distribution requirements of the Internal Revenue Code. In January or February of each year, investors will be sent a Form 1099‑DIV for the previous calendar year that will define how to report these distributions for federal income tax purposes.
This press release is not intended to, and does not constitute, an offer to purchase or sell shares of ARDC.
About Ares Dynamic Credit Allocation Fund, Inc.
Ares Dynamic Credit Allocation Fund, Inc. ("ARDC") is a closed-end management company that is externally managed by Ares Capital Management II LLC, a subsidiary of Ares Management Corporation. ARDC seeks to provide an attractive level of total return primarily through current income and, secondarily, through capital appreciation. ARDC invests in a broad, dynamically-managed portfolio of credit investments. There can be no assurance that ARDC will achieve its investment objective. ARDC's net asset value may be accessed through its NASDAQ ticker symbol, XADCX. Additional information is available at www.arespublicfunds.com.
Forward-Looking Statements
Statements included herein may constitute "forward-looking statements" within the meaning of the U.S. securities laws, and may relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and others beyond the Fund's control. Ares Dynamic Credit Allocation Fund undertakes no duty to update any forward-looking statements made herein.
This document is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted. An investor should consider the Fund's investment objective, risks, charges and expenses carefully before investing.
Ares Dynamic Credit Allocation Fund is a closed-end fund, which does not engage in a continuous offering of its shares. Since its initial public offering, the Fund has traded on the New York Stock Exchange under the symbol ARDC. Investors wishing to purchase or sell shares may do so by placing orders through a broker dealer or other intermediary.
Contact
Ares Dynamic Credit Allocation Fund, Inc.
John Stilmar
[email protected]
(888) 818-5298
or
Destra Capital Advisors LLC
[email protected]
(877) 855-3434
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO--(BUSINESS WIRE)--Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) today announced that, further to its news release on June 25, 2026, the Ontario Securities Commission has revoked the failure to file cease trade order (the “FFCTO”) previously placed on the Corporation’s securities on May 21, 2026 as a result of the Corporation’s failure to file its unaudited interim financial statements, management's discussion and analysis, and related officer certifications for the three months ended March 31, 2026 (the “Q1 2026 Filings”). The Q1 2026 Filings were filed by Sherritt on June 25, 2026.
With the revocation of the FFCTO, trading in the Corporation's securities through the facilities of the Toronto Stock Exchange resumed earlier today.
About Sherritt
Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Leveraging its technical expertise and decades of experience in critical minerals processing, Sherritt is committed to expanding domestic refining capacity and reducing reliance on foreign sources. The Corporation operates a strategically important refinery in Alberta, Canada, recognized as the only significant cobalt refinery and one of just three nickel refineries in North America.
Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.
Forward-Looking Statements
Certain statements and other information included in this press release may constitute “forward -looking information” or “forward-looking statements” (collectively, “forward-looking statements”) under applicable securities laws (such statements are often accompanied by words such as “anticipate”, “forecast”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words).
All statements in this press release, other than those relating to historical information, are forward-looking statements.
The Corporation cautions readers of this press release not to place undue reliance on any forward-looking statement as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. Such factors include, without limitation, continued risks related to Sherritt’s operations in Cuba and future actions taken by the U.S. government toward Cuba, including with respect to the Executive Order; level of liquidity of Sherritt, including access to capital and financing; the risk to or loss of Sherritt’s entitlements to future distributions (including pursuant to the Cobalt Swap) from the Moa JV; the inability of the Corporation to comply with debt restrictions and covenants; the inability of the Corporation to comply with the listing requirements of the Toronto Stock Exchange or another recognized stock exchange; uncertainty in the ability of the Corporation to enforce legal rights in foreign jurisdictions; uncertainty regarding the interpretation and/or application of the applicable laws in foreign jurisdictions; tax risks; political, economic and other risks of foreign operations; security market fluctuations and price volatility; risks related to environmental liabilities including liability for reclamation costs, tailings facility failures and toxic gas releases; compliance with applicable environment, health and safety legislation and other associated matters; risks associated with governmental regulations regarding climate change and greenhouse gas emissions; risks relating to community relations; maintaining social license to grow and operate; risks associated with the operation of large projects generally; the ability to replace depleted mineral reserves; risks associated with the Corporation’s joint venture partners; risks associated with mining, processing and refining activities; reliance on key personnel and skilled workers; risks related to the Corporation’s corporate structure; foreign exchange and pricing risks; credit risks; future market access; interest rate changes; risks in obtaining insurance; uncertainties in labour relations; legal contingencies; risks related to the Corporation’s accounting policies; uncertainty in the ability of the Corporation to obtain government permits; failure to comply with, or changes to, applicable government regulations. The key risks and uncertainties should be considered in conjunction with the risk factors described in the Corporation’s other documents filed with the Canadian securities authorities, including without limitation the “Managing Risk” section of the Management’s Discussion and Analysis for the three months and year ended December 31, 2025 and the Annual Information Form of the Corporation dated March 23, 2026 for the period ending December 31, 2025, which is available on SEDAR+ at www.sedarplus.ca. The forward-looking information and statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any oral or written forward-looking information or statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.
Zurn Elkay Water Solutions Corporation remains a Hold as strong fundamentals are offset by a stretched valuation. ZWS delivered 11.4% revenue growth and significant profitability gains, driven by demand and higher-margin product focus. Despite robust performance, ZWS trades at higher multiples than most peers on key valuation metrics, limiting near-term upside.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
MILWAUKEE, July 10, 2026 (GLOBE NEWSWIRE) -- Artisan Partners Asset Management Inc. (NYSE: APAM) today reported that its preliminary assets under management ("AUM") as of June 30, 2026 totaled $183.4 billion. Artisan Funds and Artisan Global Funds accounted for $93.5 billion of total firm AUM, while separate accounts and other AUM1 accounted for $89.9 billion.
PRELIMINARY ASSETS UNDER MANAGEMENT BY STRATEGY2 As of June 30, 2026 - ($ Millions) Growth Team Global Opportunities$13,441Global Discovery 1,885U.S. Mid-Cap Growth 10,359U.S. Small-Cap Growth 2,981Franchise 1,112Global Equity Team Global Equity 420Non-U.S. Growth 16,465U.S. Value Team3 Value Equity 473U.S. Mid-Cap Value 1,298Value Income 8International Value Group International Value 57,099International Explorer 1,230Global Special Situations 39Global Value Team Global Value 38,967Select Equity 1,068Sustainable Emerging Markets Team Sustainable Emerging Markets 3,508Credit Team High Income 14,288Credit Opportunities 417Floating Rate 290Custom Credit Solutions 1,515Developing World Team Developing World 3,292Antero Peak Group Antero Peak 2,562Antero Peak Hedge 254International Small-Mid Team Non-U.S. Small-Mid Growth 4,309EMsights Capital Group Global Unconstrained 1,825Emerging Markets Debt Opportunities 1,506Emerging Markets Local Opportunities 1,941Grandview Property Partners Grandview Property Partners4 837 Total Firm Assets Under Management ("AUM")$183,389 1 Separate account and other AUM consists of the assets we manage in or through vehicles other than Artisan Funds or Artisan Global Funds. Separate account and other AUM includes assets we manage in traditional separate accounts, as well as assets we manage in Artisan-branded collective investment trusts, and in our own private funds.
2 AUM includes $381.8 million in aggregate for which Artisan Partners provides investment models to managed account sponsors (generally reported on a lag not exceeding one quarter).
3 In June, the termination of a U.S. sub-advisory mandate resulted in approximately $5.7 billion of net outflows from the Value Equity strategy. Artisan has commenced an orderly wind-down of the US Value team's strategies, with the process expected to continue throughout the third quarter.
4 Represents NAV plus uncalled and recallable capital.
ABOUT ARTISAN PARTNERS
Artisan Partners is a global multi-asset investment platform providing a broad range of high value-added investment strategies in growing asset classes to sophisticated clients around the world. Since 1994, the firm has been committed to attracting experienced, disciplined investment professionals to manage client assets. Artisan Partners' autonomous investment teams oversee a diverse range of investment strategies across multiple asset classes. Strategies are offered through various investment vehicles to accommodate a broad range of client mandates.
Investor Relations Inquiries: 866.632.1770 or [email protected]
Source: Artisan Partners Asset Management Inc.
Digital bank Nubank’s Mexican operation, Nu Mexico, has received authorization to begin operations as a bank and now has 30 calendar days to complete its transformation into a bank, the company said in a Friday (July 10) press release.
Nu received the authorization from the National Banking and Securities Commission (CNBV), and the company will become a bank in a process supervised the CNBV, the Bank of Mexico and the Ministry of Finance and Public Credit, according to the release.
The company said that with more than 15 million customers, it will become the largest digital bank in Mexico.
“The authorization we receive and the growth we have achieved confirm that this model works and has the potential to transform the relationship millions of people have with their money,” Nubank Founder and Global CEO David Vélez said in the release.
Nubank entered the Mexican market in 2019; launched its first product, a no-fee credit card with customizable finance plans, in 2020; and later added a savings account, personal loans and secured cards, according to the release.
Today, Nu has a presence in 98% of Mexico’s municipalities, adds 12,000 new customers per day, and has given 54% of its customers their first credit card, per the release.
To this point, Nu Mexico has operated in the country as a Popular Financial Society (SOFIPO).
“Receiving authorization after an unprecedented process of transforming from a SOFIPO into a bank is a milestone we have not reached alone,” Nu Mexico CEO Armando Herrera said in the release. “We got here alongside millions of Mexicans who have placed their trust in Nu to transform the way they relate to their money.”
Nu Mexico announced in April 2025 that it received approval of its banking license from the CNBV and would continue operating as a SOFIPO while undergoing a rigorous regulatory audit before obtaining authorization to begin operations as bank.
It was reported in November that Nu was part of a wave of FinTech challengers, along with companies like Revolut and Mercado Pago, that were set to place pressure on the existing players in Mexico’s banking sector to modernize operations and slash fees.
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C3.ai: Facing Declining RevenueC3.ai (AI 0.67%) primarily generates revenue by providing enterprise software that helps organizations develop and operate large-scale data applications using artificial intelligence. It recently expanded a collaboration with Shell and recorded a net income margin of negative 224% for the quarter ended April 30, 2026.
BigBear.ai: Stabilizing Its Revenue BaseBigBear.ai (BBAI 1.51%) earns revenue by providing technology consulting and data analysis services using AI for predictive modeling and decision support. While facing a securities fraud investigation from a law firm, it gained national security approval in the Netherlands to use its platform for airport security screening. It reported an EBIT margin of negative 67% for the quarter ended March 31, 2026.
Why Revenue Matters for Retail InvestorsTracking revenue helps investors measure a company's ability to generate baseline sales before accounting for expenses. This metric reveals whether an organization is successfully attracting customers and growing its overall business volume over time.
Quarter (Period End)C3.ai RevenueBigBear.ai RevenueQ3 2024$87.2 million (period ended July 2024)$41.5 million (period ended Sept. 2024)Q4 2024$94.3 million (period ended Oct. 2024)$43.8 million (period ended Dec. 2024)Q1 2025$98.8 million (period ended Jan. 2025)$34.8 million (period ended March 2025)Q2 2025$108.7 million (period ended April 2025)$32.5 million (period ended June 2025)Q3 2025$70.3 million (period ended July 2025)$33.1 million (period ended Sept. 2025)Q4 2025$75.1 million (period ended Oct. 2025)$27.3 million (period ended Dec. 2025)Q1 2026$53.3 million (period ended Jan. 2026)$34.4 million (period ended March 2026)Q2 2026$51.6 million (period ended April 2026)Not yet reportedData source: Company filings. Data as of July 10, 2026.
Foolish TakeFor investors interested in exposure to the hot artificial intelligence sector, C3.ai and BigBear.ai are two stocks to consider. Both produce significant sales from the U.S. government. Examining their revenue trends is a fundamental starting point to seeing how well their respective AI solutions are gaining customer traction.
As these trends reveal, both businesses are experiencing year-over-year sales declines in recent quarters. The reason behind this is different for each. BigBear.ai saw 2025 revenue drop to $127.7 million compared to $158.2 million in 2024 as a result of the Trump Administration’s budget cuts last year.
The company may be turning a corner in 2026. BigBear.ai’s first-quarter revenue of $34.4 million was only a 1% year-over-year drop. It forecasted full-year 2026 revenue between $135 million and $165 million, indicating it expects to improve from last year’s dismal sales.
C3.ai saw revenue fall after its CEO, Tom Siebel, had to step down due to health reasons. The company announced his return to the position when it reported results for its fiscal fourth quarter ended April 30.
C3.ai did well under Siebel, as illustrated by its quarterly revenue growth trend between Q3 of 2024 to Q2 of 2025. Now that he is back running the company, the question remains whether sales will return to this previous performance. Investors may have to wait a few quarters to see if Siebel can turn the business around.
Key Takeaways QBTS bookings jumped 1,994% year over year as commercial momentum continued into first-quarter 2026. QBTS is expanding beyond annealing with a gate-model roadmap after the Quantum Circuits acquisition. QBTS revenues can fluctuate as larger contracts depend on customer deployment schedules and milestones. D-Wave Quantum’s (QBTS - Free Report) shares have surged 42.9% over the past year, showing impressive momentum. It has significantly outperformed the industry’s 14.2% decline and the S&P 500 composite’s 23.1% gain.
With healthy fundamentals and strong growth opportunities, this Zacks Rank #3 (Hold) company appears to be a solid wealth creator for its investors at the moment.
D-Wave Quantum develops and delivers quantum computing systems, software, and services for commercial customers. Core use cases focus on optimization-workforce and production scheduling, vehicle routing and resource allocation, with expanding applications in AI and research. The current sixth-generation annealing system is Advantage2. Revenues come from three primary sources — cloud-based quantum computing as a service (QCaaS), professional services that help customers deploy solutions and on-premises system sales.
Key Catalysts for QBTS’ GrowthD-Wave Quantum’s share price is trending upward, prompted by its commercial momentum carried into the first quarter of 2026. Bookings were up 1,994% from the year-ago period. Over two dozen commercial customers represented over 31% of bookings, while the largest order was the $20 million Florida Atlantic University system sale. Remaining performance obligations were $42.4 million as of March 31, 2026, with about 54% expected to convert to revenues in the next 12 months and 71% in the next two years.
Investors are also focused on the company’s annealing platforms - Advantage2 and the Leap cloud service. The company is extending its product set into gate-model computing following the Quantum Circuits acquisition in January 2026. It highlighted dual-rail qubits with built-in error detection and on-chip cryogenic control as key elements of its gate-model approach. It is targeting roughly 175 physical qubits by the end of 2028 to demonstrate error correction and logical operations, then 10 logical qubits by 2030 and 100 logical qubits by the end of 2032. Alongside this long-dated gate-model roadmap, D-Wave continues to add commercial annealing applications in production and expand research use cases, including work in quantum AI and blockchain benchmarking.
From solvency view point, cash and cash equivalents totaled $338.2 million and marketable investment securities amounted to $250.2 million. Operating cash outflow was $45 million in the first quarter, while investing cash outflow included $250.8 million of cash consideration for the Quantum Circuits acquisition. Even after that step-down, the balance sheet supports continued investment in R&D, sales coverage and system installations. Leap cloud utilization was below 50% entering 2026, which leaves capacity headroom, and additional annealing systems can be installed within months at modest cost.
Factors That May Offset QBTS’ GainsD-Wave’s revenue mix still depends on the timing of larger contracts and system deliveries. First-quarter 2026 revenues fell to $2.9 million from $15.0 million in the first quarter of 2025 because the prior-year quarter included $12.6 million from the first system sale, with no comparable system revenues recognized in the current period.
Image Source: Zacks Investment Research
While deferred revenues increased to $11.6 million and remaining performance obligations rose to $42.4 million, conversion depends on customer deployment schedules and contract milestones. This setup can drive quarter-to-quarter volatility and delay reported revenues even when bookings are rising.
A Glance at QBTS’ EstimatesIn the past 30 days, the Zacks Consensus Estimate for 2026 loss per share EPS has remained unchanged at 25 cents.
Revenues are projected to grow 63.3% to $40.16 million in 2026, while the same for 2027 is expected to reach $91.76 million (up 128.5%).
Key PickSome better-ranked stocks in the broader internet space are Atlassian (TEAM - Free Report) , BILL Holdings, Inc. (BILL - Free Report) and Compass (COMP - Free Report) .
Atlassian has an earnings yield of 7.1%, well ahead of the industry’s 4.5% yield. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 21.5%. The company’s shares have rallied 43.8% against the industry’s 4.8% decline over the past year.
TEAM carries a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
BILL Holdings, carrying a Zacks Rank #1 at present, has an earnings yield of 8.4% compared to the industry’s negative 4.5% yield. Shares of the company have gained 22.8% compared with the industry’s 4.5% growth. BILL’s earnings topped estimates in each of the trailing four quarters, the average surprise being 21.7%.
Compass, carrying a Zacks Rank #1 at present, has an earnings yield of 0.8% compared with the industry’s 4.5% yield. Shares of the company have climbed 43.1% against the industry’s 27.9% decline. COMP’s earnings beat estimates in two of the trailing four quarters, missed in one and matched in the other, the average surprise being 37.8%.
Sandisk (SNDK +3.27%) stock rode the coattails of Korean memory maker SK Hynix today, gaining 3.4% through 3 p.m. ET. (SK scored a 14% gain).
This is not a coincidence, and it's not entirely illogical, either.
Image source: Getty Images.
The SK Hynix "IPO" South Korea's SK Hynix, one of the biggest manufacturers of DRAM computer memory in the world, listed its American Depositary Receipts on the Nasdaq today under ticker symbol "SKHYV." SK Hynix IPO'ed its shares (it wasn't technically an IPO, though) for $149 apiece, and investors quickly bid that up to about $170 as they jumped at the chance to own a big DRAM stock that is not named Micron (MU 1.05%).
Sandisk, of course, manufactures NAND -- not DRAM -- but tomato, tomahto, right? Everyone's buying memory stocks today, and Sandisk is a memory stock, so... everyone's buying Sandisk, too. Logical, right?
Today's Change
(
3.27
%) $
60.73
Current Price
$
1,919.00
What this means for Sandisk stock Actually, it is sort of logical if you pay attention. Because at the same time as it was listing its ADRs on the Nasdaq today, SK Hynix was explaining to investors why they should buy those ADRs:
In contrast to other memory companies, which have promised that the memory shortage will last through 2027 or perhaps 2028, SK Hynix says the memory deficit will last until 2030 and beyond! What's more, 2027 will see "the worst-ever supply shortage" of computer memory in history, driving prices (and profits) through the roof.
Granted, SK Hynix is "talking its book here," and telling investors what it wants them to believe so they will buy its stock. But if SK Hynix is also correct in its forecast, then that promises windfall profits for companies like SK Hynix (and Sandisk, too) both in the short and the long term.
Buying Sandisk on that forecast is completely logical.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.
, /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with losses related to Futu Holdings Limited ("Futu" or the "Company") (NASDAQ: FUTU) have opportunity to lead the securities fraud class action lawsuit.
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN FUTU HOLDINGS LIMITED (FUTU), CLICK HERE BEFORE AUGUST 25, 2026 (THE LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
What Is The Lawsuit About?
The complaint filed alleges that, between May 24, 2023 and May 27, 2026, Defendants failed to disclose to investors that: (1) Futu was not in compliance with the requirements of the CSRC, including because the Company continued to conduct securities business, public fund sales business and futures business in mainland China without obtaining the requisite licenses or approval; (2) as a result, Futu was reasonably likely to face regulatory penalties, including the disgorgement of ill-gotten gains and other penalties; (3) as a result of the foregoing, Futu's financial results were overstated; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.
The Law Offices of Frank R. Cruz,
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at: www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE The Law Offices of Frank R. Cruz, Los Angeles
The ETF seeks to track the performance of the Bloomberg Space Economy Index, reflecting the price and yield of the benchmark before fees and expenses.
• First Trust Bloomberg Space Economy ETF stock is testing key support levels. What’s pressuring FSPC?
The launch comes as asset managers increasingly position space as a long-term investment theme extending well beyond rocket launches. Commercial and government space infrastructure now underpins critical services ranging from GPS navigation and weather forecasting to financial transactions, military communications and satellite broadband.
First Trust said the new ETF is designed to provide diversified exposure to multiple segments of the evolving industry, rather than relying on a handful of high-profile aerospace companies.
Bloomberg Index Services noted that its index uses a data-driven methodology intended to capture how the modern space economy operates, while First Trust said the fund offers investors broad access to a sector where the eventual long-term winners remain uncertain.
Key features of the First Trust Bloomberg Space Economy ETF (FSPC):
–Objective: Seeks investment results that generally correspond to the price and yield, before fees and expenses, of the Bloomberg Space Economy Index.
Space Domain Awareness Launch and Space Transportation Satellites and Communications Space Data and Artificial Intelligence –Portfolio construction: Selects up to 50 companies based on revenue exposure to the space economy and market capitalization.
–Index maintenance: Quarterly rebalancing and reconstitution.
–Investment rationale: Designed to provide diversified exposure across multiple areas of the commercial space ecosystem as the industry continues to evolve.
–Benchmark provider: Bloomberg Index Services, with sector classifications supported by Bloomberg Intelligence.
Photo: Shutterstock AI Generator
Market News and Data brought to you by Benzinga APIs
Shares of SpaceX (NASDAQ:SPCX) are trading at $148 and change on Friday afternoon, essentially back where they opened one month ago. That flat tape looks dull on the surface, but against the rest of the space sector, it’s the best performance in the group.
SpaceX priced its debut at $135 but commenced trading at $150 on June 12, and has since round-tripped to basically the same price. That’s disappointing, no doubt, but SpaceX’s peers fared worse over the past month.
The market cap of Elon Musk’s space company sits at $1.96 trillion, making SpaceX one of the largest listings ever and by far the biggest name in the sector. That scarcity value may have helped to shield SPCX stock from the broader sector rotation.
Peers Sold Off, SpaceX Held the Line It’s been a challenging month for the space sector overall. Speculative, high-beta space names have been hit with profit-taking and cooling risk appetite over the past four weeks, though SpaceX evidently refused to participate on the downside.
Over the trailing month, Virgin Galactic (NYSE:SPCE) is down 45%, Intuitive Machines (NASDAQ:LUNR) is down 40%, and Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) is down 22%. AST SpaceMobile (NASDAQ:ASTS) is down 16%, and Planet Labs (NYSE:PL) is down 15%.
The takeaway isn’t that SpaceX rallied, since it actually popped and dropped. Being flat versus the opening price still counts as a win in this hard-hit sector.
The Space Sector Proxy Confirms the Rotation The Procure Space ETF (NYSEARCA:UFO) is down 10% over the same month, though it did cushion the space sector group’s drawdowns with satellite operators and aerospace specialists. The UFO ETF is a narrow, volatile thematic fund with concentration risk, though it’s not leveraged. The fund’s top holdings include Planet Labs at 6% and Rocket Lab at 5%, both of which weighed on the UFO ETF.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Rocket Lab didn't make the cut. Grab the names FREE today.
The VIX Volatility Index at 15.84, down 20% over the past month, tells the rest of the story as broad market fear has faded. The space selloff isn’t a macro panic; it’s a sector-specific reset in the frothiest corners of the market, and SpaceX’s institutional shareholder base and scarcity value have buffered it.
Bull Case Versus Bear Case for SpaceX The bull case on SpaceX rests on its dominant launch position, Starlink connectivity across 164 countries, the xAI/Grok integration adding an AI leg, and heavy institutional demand at the trillion-dollar level. Reddit’s contrarian squeeze narrative around a third of tradable shares betting against it hasn’t gone away, either.
The bear case is straightforward: SpaceX stock has already given back its debut pop. SpaceX’s valuation is rich even before considering peer-group weakness, and the sector-wide selloff signals fading risk appetite that could still weigh on the share price. Polymarket participants currently assign an 88% probability that SPCX stock closes lower today, though month-end pricing pins 97% confidence above $110.
What to Watch Investors can watch for whether SpaceX shares hold the $145 support level through next week. A break below that, especially with peers still bleeding, would suggest that the sector rotation is finally reaching the biggest name.
Given how high-beta these stocks are, investors should consider keeping their position sizes modest until the space complex stabilizes. The peer group’s steep declines show how quickly sentiment can turn in this corner of the market.
For now, SpaceX’s flat performance stands out as a relative victory. Whether that resilience holds through the next leg of the rotation will define the setup heading into late summer.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Rocket Lab didn't make the cut. Grab the names FREE today.
A person points to an iPhone during Apple's event at the Steve Jobs Theater on its campus in Cupertino, California, U.S. September 9, 2025. REUTERS/Manuel Orbegozo /File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesApple alleges coordinated effort to steal designs and manufacturing processesMore than 400 former Apple employees now work for OpenAI, Apple saysOpenAI bought io Products last year in a $6.5 billion dealTensions between Apple and OpenAI have simmered for monthsJuly 10 (Reuters) - Apple (AAPL.O), opens new tab on Friday sued OpenAI and two former employees, alleging misappropriation of its trade secrets to benefit the ChatGPT-owner's foray into consumer hardware, in a dramatic escalation of already simmering tension between the two companies.
The complaint, filed in the U.S. District Court for the Northern District of California, alleges a coordinated effort to steal Apple's confidential information, including product designs, manufacturing processes and supply chain strategies.
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OpenAI did not immediately respond to a request for comment.
The lawsuit was filed against Chang Liu, a former senior system electrical engineer, and former Vice President of Product Design for iPhone and Apple Watch Tang Yew Tan, as well as OpenAI Foundation, OpenAI Group PBC and io Products. Neither immediately responded to a request for comment.
Apple alleged that Liu failed to return a company-issued work laptop and later used an authentication bug to access Apple's internal network, downloading "dozens of Apple's confidential hardware-related files."
The iPhone maker also claimed that OpenAI’s hardware chief Tan had been "methodically using Apple’s confidential information to benefit OpenAI" by emailing himself information about Apple suppliers and internal industry summaries before his departure.
Apple alleged that Tan encouraged Apple employees to bring parts from Apple to job interviews at OpenAI for “show and tell” sessions, citing an incident in its filing where one OpenAI job candidate allegedly said that he “didn’t even know we could take those from the office.”
More than 400 former Apple employees now work for OpenAI, Apple said in the filing, saying that “it is not surprising” that some of them have knowledge of its confidential information.
“That OpenAI now employs people who were once entrusted with Apple’s trade secrets does not entitle OpenAI to use that information to jumpstart its hardware efforts,” the iPhone maker wrote in its complaint.
Apple also alleged that OpenAI employees sought confidential information from Apple suppliers, at one point allegedly having one of those suppliers carry out what Apple called a secret metal finishing technique on the belief that OpenAI had Apple’s permission to use the technique.
OpenAI bought hardware startup io Products, founded by former Apple designer Jony Ive, last year in a $6.5 billion deal, in a push to move beyond software into consumer hardware. Ive is not named in the lawsuit.
TENSIONS BREWED FOR MONTHSTensions between the two tech companies have strained their relationship, as the race to develop AI products has intensified competition for talent and proprietary technology.
In its complaint, Apple claimed it wrote to OpenAI in February with concerns that its confidential information was making its way to OpenAI, asking to discuss the matter, but received no reply.
A person familiar with the matter told Reuters in May that OpenAI was exploring legal options against Apple, including notifying the technology giant of a breach of contract but potentially not filing a full lawsuit.
In 2024, Apple announced the integration of its "Apple Intelligence" technology across its apps including Siri and brought OpenAI's chatbot ChatGPT to its devices.
Their partnership allows users to access ChatGPT results through Siri, while iPhone users can also sign up for ChatGPT memberships directly from the iOS settings menu.
Apple rolled out a long-delayed overhaul of Siri last month. The update comes two years after Apple first promised major upgrades that were repeatedly delayed.
Reporting by Jaspreet Singh in Bengaluru and Stephen Nellis and Deepa Seetharaman in San Francisco; Editing by Maju Samuel
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Jaspreet Singh joined Reuters as a technology reporter in April 2023. He covers a raft of developments including deals, layoffs, management changes, quarterly earnings and the latest in the world of AI. He is interested in stories that bring to light any corporate misconduct, abuse of power and innovation. Jaspreet graduated from Panjab University with a degree in Journalism. If you have any sensitive information or a tip to share, contact him for an off-the-record introduction chat. He will explain what it means to speak with a reporter on background.
Apple filed a lawsuit Friday against OpenAI over allegations of trade secret theft and breach of contract.
The iPhone maker alleges that this misconduct, which it says reveals a pattern of theft from OpenAI employees who previously worked at Apple, was directed by OpenAI’s senior leadership, including Chief Hardware Officer Tang Tan.
The lawsuit, which was filed in the U.S. District Court for the Northern District of California, accuses Tan of using Apple’s confidential project code names during OpenAI’s recruiting process, asking job candidates to bring in Apple hardware components to their interviews, coaching departing Apple employees on how to evade the company’s security procedures, and asking for details about the company’s unannounced products.
Before joining OpenAI, Tan had spent 24 years at Apple, most recently as VP of product design for the iPhone and Apple Watch.
The accusations come at a time when OpenAI is rumored to be developing its first hardware product, which would likely compete with the iPhone. In April, industry analyst Ming-Chi Kuo suggested this device could be a smartphone that would rely on AI agents instead of apps. If true, it would be one of the largest threats to Apple’s core hardware business to date.
Apple’s former lead designer Jony Ive’s device startup io was acquired by OpenAI last year in a $6.5 billion deal to aid the AI company with its hardware ambitions. While io was named in the filing, Ive was not.
Tan is not the only OpenAI employee referenced in the new complaint. Apple also alleges that Chang Liu, who spent eight years at Apple as a senior systems electrical engineer, failed to return an Apple-issued laptop after leaving the company for OpenAI in 2026 and had used the computer to download confidential Apple technical documents.
Apple says in the complaint that the stolen documents included information about unannounced technologies, features, and products, including technical specifications, engineering presentations, and proprietary project data.
Liu is also accused in the lawsuit of sharing Apple’s confidential information with other Apple employees applying for jobs at OpenAI, advising at least one of them on what to study before their interview.
Apple sent a letter to OpenAI in February to raise its concerns, and received no response, the company said in the complaint.
It alleges that the behavior of these former employees is part of OpenAI’s strategy to extract Apple’s confidential information, which included asking Apple employees to bring designs and prototypes to their interviews, and answer questions about things like component and vendor selection processes.
Apple says its ongoing investigation revealed that OpenAI and its partners have even used Apple’s confidential information while the AI model maker develops its own hardware product. For instance, the filing references a proprietary metal finishing technique that was used by OpenAI after it allegedly misled a partner into believing it had Apple’s permission to do so.
Like many tech companies, Apple typically investigates potential trade secret theft or other improper activity by analyzing communications that took place on company-owned devices and reading through its server logs. By taking the case to court, Apple will have an opportunity to learn more about the extent of the alleged operation through the legal discovery process.
Apple is asking the court to bar OpenAI from using or disclosing its trade secrets, require the company to return any confidential Apple materials, and preserve evidence related to the case.
“This is the tip of the iceberg. Apple lacks visibility into what’s been happening behind closed doors at OpenAI, where such misconduct is normalized and exemplified by leadership,” the filing states. “As a natural result, OpenAI’s nascent hardware business now rests on the shakiest of foundations, rotten to its core by its illegal reliance on misappropriated trade secrets.”
In a prepared statement, Apple also said the following:
“At Apple, our teams are constantly developing breakthrough technologies to create the best products and services in the world, and protecting their work and intellectual property is something we take very seriously. Recently, significant evidence has emerged suggesting individuals employed by OpenAI wrongfully took Apple’s secret and confidential information regarding our unreleased technologies, processes, and products. We will always defend our teams’ hard work and innovations, and we are taking all appropriate steps to do so.”
OpenAI was asked for comment.
The filing is available here, or you can read it below.
This story is developing and will be updated, and originally published at 1:32pm PT.
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Apple on Friday sued OpenAI in federal court in Northern California, alleging trade secret theft, saying that the artificial intelligence lab took the iPhone maker's intellectual property in order to develop its own consumer hardware.
"This much is clear, however: at every level, from members of its Technical Staff to its Chief Hardware Officer, and in coordination with business partners, OpenAI has been stealing Apple's trade secrets and confidential information," the company said in a legal filing.
It's a shocking reversal for the two companies, which entered into a high-profile partnership in 2024 when ChatGPT was integrated into the iPhone's operating system. OpenAI CEO Sam Altman visited Apple's headquarters for the announcement.
But relations between the two companies have chilled since OpenAI announced plans to enter the hardware industry last year, when it bought former Apple designer Jony Ive's startup, called IO Products, for $6.4 billion.
Apple's updated version of its Siri assistant, which is coming out this fall, is based on Google's Gemini AI models instead of ChatGPT.
Most of Apple's allegations involve former employees who have interviewed with or joined OpenAI.
Read more CNBC tech newsAnduril CEO says it's bad to IPO in 'middle of a hype cycle'Palo Alto CEO Arora says AI pricing needs to fall 90% as token costs skyrocketOpenAI's newest AI model is 54% more token efficient on agentic coding, Altman tells CNBCMeta jumps into AI coding market in effort to chase Anthropic and OpenAIApple alleged that OpenAI's chief hardware officer, Tang Tan, who is a former Apple vice president, has directed Apple employees interviewing at OpenAI to share Apple secrets as part of the interviewing process. Tan is named as a defendant in the suit.
"He has directed job candidates still working for Apple to bring 'actual parts' from Apple to their interviews for 'show and tell' sessions in which he and his team at OpenAI can elicit still more Apple confidential information," Apple said in the filing.
Apple alleged that OpenAI coached departing Apple employees in how to evade security processes when leaving the iPhone maker, and that Chang Liu, a former employee who joined OpenAI, stole an Apple laptop. Liu is named as a defendant in the suit.
It also said that Apple believes that OpenAI is asking hardware firms to carry out a metal finishing technique that Apple invented, while "misleading the partner to believe they had Apple's permission to do so."
"Recently, significant evidence has emerged suggesting individuals employed by OpenAI wrongfully took Apple's secret and confidential information regarding our unreleased technologies, processes, and products," an Apple representative told CNBC in a statement.
IO Products is also named in the lawsuit.
OpenAI hasn't announced when or what its hardware products will be, but Altman said in November that it had finished its first prototypes.
Apple did not comment on whether the lawsuit will affect the partnership with OpenAI in which the lab's ChatGPT is integrated into Apple Intelligence.
Apple is seeking damages, injunctions, and an order to force OpenAI to stop using its trade secrets.
Apple sued OpenAI and two ex-employees in a bombshell suit accusing them of stealing the consumer tech giant’s trade secrets.
The complaint alleging coordinated theft of product designs, manufacturing processes and supply chain strategies was filed Friday in the US District Court for the Northern District of California.
“This case is about Apple’s former employees stealing Apple’s trade secrets for the benefit of OpenAI. Apple brings this suit to put a stop to it,” the lawsuit stated, according to 9 to 5 Mac.
The complaint alleged theft of product designs, manufacturing processes and supply chain strategies. AP Photo/Matthias Schrader The sued employees were identified as Chang Liu, a former senior system electrical engineer at Apple, and Tang Yew Tan, a former VP of product design. They reportedly went to work for OpenAI in 2024 and this year, respectively — taking unreleased Apple tech with them, the suit alleged.
Liu was accused of failing to return an Apple-issued work laptop, later exploiting a bug to access the company’s internal network and downloading “dozens of Apple’s confidential hardware-related files.”
The suit said Tan “has been methodically using Apple’s confidential information to benefit OpenAI” –emailing himself info about the company’s suppliers and internal industry summaries before his exit.
The suit seems sure to throw a monkey wrench into a high-profile partnership Apple and OpenAI launched in 2024, with the consumer hardware company integrating the AI lab’s tech into the iPhone operating system.
Tang Yew Tan, a former VP of product design. linkedin/tangtan/
Chang Liu, a former senior system electrical engineer at Apple. linkedin/chang-liu Apple has been on a drive to increase its AI efforts after lagging behind competitors for years.
OpenAI recently ventured into the hardware space, buying io Products — founded by former Apple designer Jony Ive — in a $6.5 billion deal last year. Tan worked for Ive, according to 9 to 5 Mac.
“At Apple, our teams are constantly developing breakthrough technologies to create the best products and services in the world, and protecting their work and intellectual property is something we take very seriously,” Apple told The Post in a statement.
OpenAI recently ventured into the hardware space, buying io Products — founded by former Apple designer Jony Ive — in a $6.5 billion deal last year. Tan worked for Ive, according to 9 to 5 Mac. OpenAI CEO Sam Altman, above. Getty Images “Recently, significant evidence has emerged suggesting individuals employed by OpenAI wrongfully took Apple’s secret and confidential information regarding our unreleased technologies, processes, and products. We will always defend our teams’ hard work and innovations, and we are taking all appropriate steps to do so.”
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Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images Apple filed suit against OpenAI on Friday, alleging the AI giant illegally gained access to trade secrets after former Apple employees discovered they could still access its systems following their departure for OpenAI.
OpenAI and Apple did not immediately respond to requests for comment from Business Insider.
This is a developing story. Please check back for updates.
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Katherine Tangalakis-Lippert is a senior reporter on Business Insider's West Coast team. When she's not writing about trending business and tech news, from the latest supply chain snarls or advancements in AI, she covers the food and restaurant industries, specifically companies such as Starbucks and McDonald's.Some of her prior areas of focus have included coverage of the Supreme Court and emerging technologies such as quantum computing.Katherine has worked on award-nominated projects and has appeared on Good Morning America, NBC, CNN, and other outlets to discuss her reporting.Prior to joining Business Insider, she covered retail, hospitality, and nonprofits at the San Fernando Valley Business Journal and received a master's degree in investigative reporting from the University of Southern California.Reach outDo you have feedback or a story tip? Contact Katherine on Signal at byktl.50, or email her at [email protected] her on Twitter and Instagram @scrawlgirl.Some of her recent scoops, exclusives, and original stories include: Starbucks set up a new office. It's a 5-minute drive from the CEO's California home.Inside Starbucks' crackdown on cup notesEndless Shrimp was Red Lobster's rock bottom. Now it's clawing back.Chipotle's new PAC signals a change in how the company engages in politicsKFC lost its footing in the Chicken Wars. Now it's gunning for a 'Kentucky Fried Comeback.'A few other highlights include: Clarence Thomas raised him 'as a son.' Now he's facing 25-plus years on weapons and drug charges.Call her Ivanka Kushner'Maybe I'll just resign:' Federal workers react to DOGE productivity emailSpaceX launches cause late-night booms that rattle windows, set off car alarms, and may damage property. Locals are pushing back.The US-China tech race is moving from chips to the raw materials they're made of
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Stephen is a Senior Tech Reporter at Business Insider, covering OpenAI, Anthropic and the ecosystem around the leading artificial intelligence companies.Previously he covered technology at SFGATE, and has written for The Wall Street Journal, The Information and CNBC. He studied journalism and economics at Northwestern University.His work has earned an SF Press Club Investigative Reporting Award and, in 2025, SPJ NorCal’s Excellence in Journalism Award for Technology Reporting.Stephen lives in San Francisco. Contact him via email at [email protected], or on Signal, Telegram, or WhatsApp at 415-757-8198. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.
Artificial intelligence could reshape the jobs of nearly 80 million workers across Southeast Asia, but the International Labour Organization found little eviden
Characteristics and Risks of Standardized Options: https://bit.ly/2v9tH6D. The positives outweigh the negatives when it comes to Meta Platforms (META), argues Kevin Hincks.
ToplineMark Zuckerberg’s net worth increased by $12 billion on Friday as Meta’s stock concluded its best weekly performance in more than two years, following the debut of a new AI model and reported plans for the Facebook parent to develop in-house AI chips.
The Facebook parent’s stock saw a positive investor reaction to its new AI model and reported plans for in-house AI chips.
Getty Images
Key FactsMeta jumped 6% on Friday to just under $670, extending a more than 14% rally for the stock over the week, its best five-session performance since a 20.5% surge the week ending Feb. 2, 2024, according to FactSet data.
The latest boost in Meta shares added $12.7 billion to Zuckerberg’s net worth, valued at $229.3 billion, as he ranks No. 6 in the world behind No. 5 Michael Dell ($241.3 billion) and No. 4 Jeff Bezos ($255.2 billion), according to Forbes estimates (for the rest, see our Real-Time Billionaire List).
This week Meta rolled out Muse Image, a new AI model to be used as a tool for creating images, and the latest update to its foundational AI model Muse Spark, which Meta claimed is a “significant upgrade” that makes the model better at coding, using software tools and understanding texts and images together.
On Thursday, Meta’s shares rallied by 4.7% after Reuters reported the company planned to start producing an in-house AI chip by September.
Bank of America Analyst Justin Post applauded Meta’s chip plans, writing in a note that the company may have found a way to build or operate its AI infrastructure much more cheaply than Wall Street expected.
contraMeta has faced backlash for its Muse Image tool from Hollywood unions, talent agencies and cybersecurity firms over privacy concerns. Instagram’s implementation of the tool allowed users to create AI content based on images posted by public accounts, which are not notified when their posts are used for image generation, and users are automatically opted into the program. SAG-AFTRA, a major Hollywood union representing more than 160,000 actors and entertainment industry professionals, urged its members to opt out of the tool late Thursday, while talent agency Creative Arts Agency called for Meta to make the feature opt-in, not opt-out. Cybersecurity firm Malwarebytes warned the tool could be used for “impersonation, scams, or other abuse.” Meta, in response to criticism, said in a statement that users under 18 were automatically opted out and that it will “take action” against content that violates its community standards.
what to watch forMeta is expected to report quarterly earnings by the end of the month. The company is expected to report a nearly 7% boost in revenue quarter-to-quarter, but a 31% downturn in earnings per share, according to FactSet. Meta’s $10.44 earnings per share through its first quarter were boosted by a one-time $8 billion tax benefit.
key backgroundInvestors poured into Meta’s stock to open the year as shares briefly peaked in late January before stumbling to a low in March. That monthlong decline came as Meta was struck by a pair of landmark court rulings, one of which found Meta and Google liable for harming a woman’s mental health because of addictive design features on their platforms, and the brief closure of its metaverse. At the time, Meta also reportedly delayed the release of its AI model after it failed to outperform AI models from rivals OpenAI, Google and Anthropic in benchmark tests. The stock has since rebounded by more than 28% as Meta has ramped up production of its AI products, including Muse Spark and Muse Image.
further readingForbesInstagram’s New AI Update Faces Blowback From Hollywood, Cybersecurity CompaniesBy Conor MurrayForbesMeta’s Rare Selloff Deepens After Court Losses, AI Delays And Metaverse’s DeclineBy Ty Roush
It was another interesting week for the tech trade, as Sam Vadas discusses her top takeaways Meta Platforms' (META) strong run, and SK Hynix's (SKHYV) Nasdaq debut. ======== Schwab Network ======== Empowering every investor and trader, every market day.
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