Track market-moving stories before they get noisy

heyAura is integrating Aurora Intents, a cross-chain execution layer powered by NEAR Intents. The result: more routing options for swaps and bridges, simpler cross-chain workflows, and lower gas fees on batched transactions.

heyAura integrates Aurora Intents for better cross-chain swaps and bridges and lower gas fees heyAura is integrating Aurora Intents, a cross-chain execution layer built by Aurora and powered by NEAR Intents.

The integration expands the infrastructure that heyAura uses for swaps and bridges, with three main benefits for users: more competitive quotes, simpler cross-chain workflows, and lower gas costs for compatible transactions.

Benefits of integrating Aurora Intents
More competitive quotesAurora Intents uses a solver network powered by NEAR Intents, in which independent solvers compete to fulfill transaction intents at competitive prices. Its cross-chain swap infrastructure also provides best-rate routing across its supported networks.

By adding Aurora Intents to heyAura's execution infrastructure, heyAura can access more available quotes and routing options when preparing eligible swaps and bridges.

This gives users a wider execution pool and can result in better quotes depending on the assets, networks, available liquidity, and current market conditions.

Simpler swaps and bridgesCross-chain transactions usually involve several infrastructure components, including liquidity sources, bridges, network-specific transactions, and settlement mechanisms

Aurora Intents combines these components into a single cross-chain execution layer. Its infrastructure handles routing and conversion across supported networks and supports multi-step, composable transaction flows.

heyAura interprets the requested action and prepares the transaction using the available execution infrastructure. The user retains control and provides final approval before execution.

Lower gas fees and faster executionAurora Intents combines multiple transactions and supports multi-step execution within a single coordinated flow. Gas still depends on the network, route, and conditions, but combining transactions lowers fees.

This is particularly relevant for heyAura, as the assistant can prepare batch transactions with a single prompt that would otherwise require several separate onchain operations. This workflow removes complexity, saves transaction time, and reduces gas fees.

One prompt. One approval. Cross-chain.

Here's Aurora Intents inside @heyAura:

→ "Bridge 1,000 USDC from Arbitrum to Base"
→ heyAura finds the route via Aurora Intents
→ Review, confirm, done

No bridge app. No chain switching. pic.twitter.com/TwO2VaShId

— Aurora (@auroraisnear) October 14, 2026 What is Aurora Intents?Aurora Intents provides infrastructure for executing transactions across different blockchain networks. It currently supports more than 30 chains and uses NEAR Intents together with Aurora's execution engine for cross-chain swaps and multi-step flows.

The system is based on intent-driven execution. An intent describes the outcome a user wants to achieve, while the underlying infrastructure handles routing, conversion, liquidity, and settlement.

Expanding heyAura's execution infrastructureAurora Intents joins the growing set of infrastructure providers behind heyAura's transaction capabilities.

The integration gives heyAura access to additional cross-chain liquidity and routing through the NEAR Intents solver network, while Aurora's execution engine adds support for composable multi-step flows.

For heyAura users, the result is straightforward: more routing options, simpler swap and bridge workflows, and more efficient transactions where batching is available.

This integration is another step towards our goal to provide better, more cost-effective, and time-saving services within heyAura.

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Cleveland-Cliffs is falling several times harder than its steel rivals today, and the reason comes down to a structural quirk that puts the company on both sides of the same trade policy at once.

Fresh uncertainty over U.S. trade policy is weighing on the steel group, and it’s landing hardest on the one producer with a foot on each side of the Canadian border. Cleveland-Cliffs (NYSE:CLF | CLF Price Prediction) stock is down 4% to $12.13 in afternoon trading, a much sharper drop than its domestic rivals are posting.

Meanwhile, Nucor (NYSE:NUE) stock is down 1% to $253.55, a far smaller loss than the one hitting Cleveland-Cliffs. Steel Dynamics (NASDAQ:STLD) stock is down 1% to $240.34, closely matching the slide in Nucor stock.

The selling extends into the broader steel basket. Notably, the VanEck Steel ETF (NYSEARCA:SLX) is down 0.8% to $101.65. However, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.1% to $770.43, so the broader stock market isn’t falling.

Trade Doubt Hits Cleveland-Cliffs From Two Sides Uncertainty over trade policy reaches Cleveland-Cliffs harder than its domestic peers because of how the company is built. As an integrated producer, it also owns Stelco, a Canadian steel maker. That ownership means duties on Canadian steel cut in two directions for Cleveland-Cliffs at once.

Duties on Canadian steel raise the price Cleveland-Cliffs’ domestic mills can charge, but those same duties also tax the company’s own imports from Stelco, pulling against that pricing benefit. Because both effects arrive together, any shift in trade policy can cut either way for Cleveland-Cliffs’ results.

Cleveland-Cliffs stock is falling several times harder than Nucor stock, Steel Dynamics stock and the VanEck Steel ETF, a gap that reflects the Stelco exposure showing up in the price of Cleveland-Cliffs stock. Smaller declines in Nucor stock and Steel Dynamics stock leave the broader steel demand picture outside the repricing.

Butler Works Expansion Opens a Grid Market On October 5, Cleveland-Cliffs stated that it’s expanding electrical steel production at its Butler Works plant in Pennsylvania. This project is aimed at the transformers that power-grid operators buy. Its timing stands out, since the announcement came shortly before this round of trade doubt hit the steel group.

That push ties part of Cleveland-Cliffs’ business to grid spending, a demand source that sits apart from the Canadian trade question. Utilities and grid operators need transformers to expand and upgrade their networks, which links Butler Works output to that investment cycle.

Two Forces Pulling on Cleveland-Cliffs The next test for Cleveland-Cliffs is whether the Butler Works expansion adds enough grid-linked revenue to offset what trade policy takes from its Canadian operations. Clarity on trade policy could settle the other half of that equation, since Stelco sits on both sides of any duty on Canadian steel. Those two forces now pull on Cleveland-Cliffs stock at once.

Cleveland-Cliffs’ bull case rests on its domestic mills getting higher prices while Butler Works opens a firmer grid market. Its bear case centers on Stelco absorbing the cost side of any duty on Canadian steel, which could keep pressure on Cleveland-Cliffs shares relative to domestic rivals.

For now, Cleveland-Cliffs shares reflect a company caught between two outcomes of the same policy debate. Each new trade headline may move Cleveland-Cliffs stock before the grid business has time to mature, so a small share position makes sense until the trade picture clears.

Contact [email protected] for any questions or corrections.

The first purchase order is expected by year-end; contemplated deliveries run from 2028 through 2034. Summary

The opportunity is substantial, but a capacity framework must still convert into equipment orders.

Power-generation and grid-equipment supplier GE Vernova GEV has a fresh opening in the AI power race, but orders still have to follow. Shares traded at $912.75, down 3.08%, at 12:51 p.m. ET on October 15. The framework with Venture Global and Baker Hughes could support electricity supplies for LNG operations and potential nearby data centers. The opportunity is substantial. How much becomes contracted business remains the key question.

Venture Global outlined agreements covering up to 16 power islands, each rated at 720 megawatts, plus associated transformer equipment. Together, that represents 11.52 gigawatts of potential generation capacity. The company expects its first power-island purchase order by year-end 2026, with additional deployments tied to customer commitments and commercial needs. Reuters reported that the planned capacity could serve both AI data centers and LNG operations. Investors should distinguish that capacity ceiling from firm equipment orders.

The GF Score of 17/100 adds a caution flag: the displayed composite offers little support for an investment case built on the power-demand story alone. For shareholders, the next meaningful milestone is a purchase order, followed by evidence of repeat commitments and profitable deliveries. One initial order would move the framework forward. It would not establish demand for all 16 units. GE Vernova's earnings opportunity will depend on how much equipment customers ultimately buy, when it ships and what margins the company earns.

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

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Key Takeaways Expand Energy's shares have declined 17.4% YTD, trailing the sector's 41% and the industry's 33.8% gains.EXE's 2026 earnings are projected to rise 40.8%, while its price-to-sales ratio of 2.28X trails the industry.Twin Eagle's $1.25B deal offers growth potential, but gas price volatility and high capital costs pose risks. Since the beginning of the year, shares of Expand Energy Corporation (EXE - Free Report) have slumped 17.4%, significantly underperforming the broader oil and energy sector as well as the U.S. exploration and production sub-industry, which gained 41% and 33.8%, respectively. The company’s relative weakness is also evident when compared to peers like Range Resources Corporation (RRC - Free Report) and Antero Resources Corporation (AR - Free Report) , which advanced 18.7% and 6.3%, respectively, year to date (YTD).

EXE Underperforms Industry, Sector & Peer Companies (RRC and AR)
Image Source: Zacks Investment Research

Expand Energy is the largest independent natural gas producer in the United States, which focuses on exploring, developing and producing natural gas, oil and natural gas liquids across major U.S. shale formations. Its operations span the Haynesville and Bossier Shales in Louisiana and Texas, the Marcellus Shale in Pennsylvania and West Virginia, and the Utica Shale in Ohio. Formed following the merger of Chesapeake Energy and Southwestern Energy in October 2024, Expand Energy has established a substantial portfolio of natural gas assets. Its business strategy emphasizes operational efficiency, disciplined capital investment, financial flexibility and responsible resource development. Expand Energy also focuses on strengthening its commercial operations and expanding access to growing domestic natural gas markets and international LNG demand.

The company benefits from rising U.S. natural gas demand, backed by its extensive drilling inventory, operating scale and access to LNG markets. Strong cash generation and the Twin Eagle acquisition could support growth and shareholder returns. However, substantial capital requirements, volatile gas prices and pipeline constraints pose risks. Twin Eagle also brings integration and financing challenges, while future growth depends partly on LNG infrastructure expansion. Before we dive into how investors should react, let us take a quick look at its current standing and outcomes.

Factors Favoring Expand Energy StockEXE’s 2026 Earnings Estimates Are Going Up: The Zacks Consensus Estimate for EXE’s 2026 earnings is pegged at $8.59 per share, indicating a 40.8% year-over-year rise. The Zacks Consensus Estimate for Range Resources indicates year-over-year earnings growth of 30% for 2026. However, Antero Resources runs far ahead, with the Zacks Consensus Estimate projecting a 154.4% year-over-year rise in 2026 earnings.

EXE’s Earnings Estimate
Image Source: Zacks Investment Research

EXE’s Discounted Valuation: EXE’s shares are cheap on a relative basis, with its price-to-sales ratio being 2.28X compared with its industry average of 3.59X.

Valuation Comparison
Image Source: Zacks Investment Research

Twin Eagle Acquisition Expands Commercial Earnings Potential: Expand Energy's announced $1.25 billion acquisition of Twin Eagle could significantly expand its natural gas marketing capabilities and customer reach. The transaction is expected to contribute more than $200 million in annual EBITDA initially, rising to approximately $350 million as synergies develop. Management also increased its incremental marketing and commercial free cash flow target to $750 million. Access to established customers, transportation infrastructure and storage capacity could help EXE capture premium pricing opportunities while diversifying its earnings beyond upstream production.

Financial Strength Supports Continued Shareholder Returns: Expand Energy has strengthened its balance sheet while maintaining substantial shareholder distributions. Gross debt declined approximately $1.3 billion during the first half of 2026, leaving quarter-end net debt near $3.1 billion and a leverage ratio of roughly 0.5 times. The company repurchased approximately $849 million of shares through July 24, reducing outstanding shares by about 4%. An additional $1 billion repurchase authorization provides flexibility for future distributions. Its investment-grade credit profile and sizable liquidity position further support financial stability.

Challenges for EXE StockNatural Gas Price Volatility Threatens Profitability: Expand Energy's substantial reliance on natural gas leaves earnings and cash generation sensitive to commodity price movements. Natural gas accounted for approximately 92% of second-quarter 2026 production. Its average realized natural gas price, excluding derivatives, declined to $2.42 per Mcf from $2.93 a year earlier. Natural gas, oil and NGL revenues consequently fell to $1.83 billion from $2.02 billion. Although hedging provides some protection, prolonged pricing weakness could reduce drilling returns, constrain free cash flow and limit the company's ability to fund shareholder distributions. Since RRC and AR operate in the same industry, the companies are equally sensitive to commodity price volatility affecting their earnings and cash flow.

Significant Capital Requirements Could Limit Free Cash Flow: Expand Energy requires substantial investment to sustain production and replace declining well volumes. Management projects 2026 capital expenditures of $2.75-$2.95 billion, including $2.25-$2.35 billion for drilling and completions. Second-quarter capital spending reached $851 million, while quarterly operating cash flow declined to $1.10 billion from $1.32 billion a year earlier. Continued spending requirements, alongside potential service-cost inflation, could pressure free cash flow during weaker commodity markets and reduce funds available for shareholder returns.

Twin Eagle Integration Creates Financial and Execution Risks: The planned Twin Eagle acquisition introduces execution and financing uncertainties despite its strategic appeal. The $1.25 billion all-cash purchase is expected to be funded through existing cash and revolving credit borrowings, potentially increasing debt after recent balance-sheet improvements. Management's $350 million annual EBITDA expectation depends partly on realizing $150 million of synergies by year-end 2028. Delayed integration, weaker marketing performance or slower synergy realization could reduce the transaction's expected benefits and constrain EXE's financial flexibility.

Transportation Costs and Regional Pricing Discounts Pressure Margins: Expand Energy faces high costs in delivering natural gas from producing regions to end markets. Gathering, processing and transportation expenses increased to $634 million in the second quarter of 2026 from $563 million a year earlier. Management expects these costs to range from $1.01 to $1.13 per Mcfe for the full year. Meanwhile, projected natural gas basis discounts of $0.30-$0.40 per Mcf to NYMEX prices could further restrict realized revenues. Persistent transportation expenses and unfavorable regional pricing differentials may limit profitability even when benchmark gas prices improve.

Final Verdict on EXE StockThe Zacks Rank #3 (Hold) company benefits from its strong natural gas production portfolio, rising earnings estimates and discounted valuation. The Twin Eagle acquisition could strengthen commercial operations and diversify earnings, while a healthy balance sheet and continued shareholder returns provide additional support.

However, natural gas price volatility, substantial capital spending and rising transportation costs could weigh on profitability and cash generation. Moreover, integration challenges and potential debt increases associated with Twin Eagle add uncertainty. With the stock significantly underperforming its industry and peers — Range Resources and Antero Resources — investors should remain cautious despite its long-term growth prospects. Given these offsetting factors, retaining EXE shares appears prudent for investors.

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

Key Takeaways Silicon Motion's UFS portfolio supports versions 4.1, 3.1 and 2.2 across smartphone price segments.Its eMMC 5.1 controllers use error correction and power management to boost reliability and energy efficiency.Specialized firmware and controller hardware enhance compatibility, performance and NAND flash management.
Silicon Motion Technology Corporation (SIMO - Free Report) plays a key role in the smartphone industry by developing NAND flash controllers and embedded storage technologies. Its solutions help smartphone manufacturers deliver reliable performance, faster data access and improved power efficiency.

Silicon Motion’s Universal Flash Storage portfolio supports versions 4.1, 3.1 and 2.2, serving smartphones across different price segments. Its controller technologies enable high-speed data transfers and support demanding mobile applications, including artificial intelligence (AI)-enabled features.

The company also develops embedded MultiMediaCard (eMMC) controllers for cost-sensitive smartphones and other mobile devices. Its eMMC 5.1 solutions incorporate error correction, intelligent data-handling algorithms and dynamic power management to improve data reliability and optimize energy use.

Silicon Motion combines controller hardware with specialized firmware to help storage manufacturers improve compatibility, performance and NAND flash management. As demand for AI-enabled smartphones and advanced mobile applications grows, the company could benefit from the increasing need for faster and more efficient storage solutions.

How Are Competitors Advancing in the Smartphone Storage Market?Silicon Motion faces competition from Seagate Technology Holdings plc (STX - Free Report) and Micron Technology, Inc. (MU - Free Report) . Seagate supports smartphone users with portable SSDs and external storage devices for storing photos, videos and other digital files. Its solutions enable fast file transfers and convenient backups across compatible mobile devices. Seagate’s products provide flexible storage options for smartphone users who need to access their files across multiple devices.

Micron develops advanced memory technologies to improve smartphone performance and power efficiency. Its memory and storage solutions support demanding applications, high-resolution content and on-device AI features. Micron’s technologies help smartphone manufacturers deliver faster data processing and smoother multitasking in next-generation devices.

SIMO’s Price Performance, Valuation and EstimatesSilicon Motion shares have rallied 142.1% over the past year compared with the industry’s growth of 130.1%.

Image Source: Zacks Investment Research

Going by the price/earnings ratio, the company's shares currently trade at 14.66 forward earnings, higher than 10.22 for the industry.

Image Source: Zacks Investment Research

Earnings estimates for both 2026 and 2027 remained static at $11.16 and $16.34, respectively, over the past 60 days.

Image Source: Zacks Investment Research

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

Elon Musk‘s $100 trillion Space Exploration Technologies Corp. (NASDAQ:SPCX) forecast needs more than rockets reaching orbit and satellites connecting remote homes.

One potentially larger opportunity is turning Starlink into a mobile connectivity business that can reach ordinary smartphones, opening a market far bigger than satellite broadband alone. But the economics of that expansion, not the size of the opportunity, will determine how much it adds to SpaceX’s valuation.

Starlink Wants a Bigger Wireless MarketSpaceX is moving beyond its traditional satellite internet model. On Oct. 8, the company agreed to acquire a nationwide low-band spectrum portfolio from Grain Management for approximately $8 billion.

The 800-megahertz spectrum could help Starlink Mobile deliver signals over longer distances and penetrate buildings more effectively. Combined with its existing spectrum and satellite network, it could give SpaceX a path toward competing more directly with conventional wireless carriers rather than relying exclusively on partnerships to extend their coverage.

That is a potentially important shift in the business model. Satellite broadband requires specialized equipment, while direct-to-cell services aim to connect compatible smartphones.

A successful mobile offering could expand Starlink’s addressable market, although network capacity, service quality and regulatory approvals will determine how quickly it can scale.

India’s Millions-User OpportunityIndia illustrates the potential reach. The country had approximately 1.27 billion wireless mobile subscriptions at the end of March 2026, according to the Department of Telecommunications.

If Starlink eventually captured just 2% of that subscription base, it would serve roughly 25 million connections. At a hypothetical 100 Indian rupees (~$1.05) per month received by SpaceX for each connection, that would generate approximately 30 billion rupees, or $350 million, in annual revenue at about INR 86 per dollar.

A 5% share would mean about 63 million connections and approximately $880 million in annual revenue under the same assumptions. These are illustrative scenarios, not forecasts: Starlink has not announced an Indian direct-to-cell price, and its share of customer payments would depend on its commercial arrangements.

India also presents a regulatory hurdle. Reuters reported on Oct. 11 that Musk had promised affordable Starlink pricing, but satellite internet availability does not automatically authorize direct-to-cell services.

Read Next

The $100 Trillion Valuation TestEven the bullish Indian scenario produces less than $1 billion in annual revenue for SpaceX. That is meaningful, but insufficient by itself to explain Musk’s extraordinary valuation target.

The broader case depends on Starlink scaling globally, AI infrastructure generating substantial earnings and Starship potentially lowering launch costs enough to unlock new businesses. India’s mobile market is one possible contributor, not proof of the end valuation.

What SpaceX Investors Should WatchInvestors should watch whether SpaceX can turn spectrum investment into paying mobile subscribers, expand beyond existing carrier partnerships and generate attractive margins after network costs.

The $100 trillion ambition requires multiple businesses to scale dramatically; Starlink Mobile could help, but execution will matter far more than the headline market size.

Read Next

Photo courtesy: Shutterstock

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

By all early accounts, Meta Platforms' (META +0.51%) new Muse AI agent is a huge success. The app has an estimated 3 million weekly users and has been at the top of Apple's (AAPL +0.46%) App Store for several weeks.

Meta shareholders have driven the company's stock up more than 20% since Muse launched, optimistic that the company has figured out how to monetize AI.

Call me a skeptic, but I'm not sold on the idea that Muse will be the catalyst some investors hope for. For one, Meta will burn through $145 billion in AI data center spending this year. Even selling a heck of a lot of Muse subscriptions won't come close to recouping those costs.

Secondly, virtually every major tech company is moving in the same agentic AI direction. The market is already getting crowded, and it's just getting started.

Image source: The Motley Fool.

Cheap AI doesn't exist
Muse is free to use with a limited number of AI tokens, and there are two paid tiers: $20/month (5 million weekly tokens) and $100/month (3 billion weekly tokens). Those prices align with what most AI companies charge for their monthly AI services right now, but the problem for Meta (and likely its rivals, too) is that these subscriptions won't come anywhere close to offsetting AI expenses.

As mentioned, Meta is spending $145 billion to build AI data centers this year, and some analysts think it could spend even more next year. Recouping those costs through subscriptions will be nearly impossible. That's especially when you consider that Muse is a consumer product, not an enterprise product like many other AI agents. Enterprise products can generate significant revenue because companies have larger budgets than consumers and are more willing to stick with the same service for longer.

Microsoft and Alphabet both recently grew cloud revenue rapidly, thanks mostly to selling cloud-based AI services to companies. Meta isn't a cloud company, and that's sort of the problem. Meta is investing similar amounts of money in AI data centers as its peers but doesn't have enterprise products to offset its high costs.

Meta recently launched Muse for Small Business, but it's more of a workflow automation tool (allowing Muse to connect to a Canva subscription) than the robust tools Anthropic and OpenAI offer. Making matters worse for Meta is that it's very likely that even its current subscription prices aren't high enough to match the amount of AI tokens users are spending.

For $100/month, Muse users (Musers?) receive 3 billion tokens per week. But the total amount of tokens a user gets often exceeds the value of what they pay for them. Earlier this year, a SemiAnalysis report found that a $200/month ChatGPT subscription actually gives a user $14,000 worth of AI tokens. For Claude, $200 essentially gets you $8,000 worth of tokens.

In short, AI companies are heavily discounting their products. A similar disparity is likely occurring with Muse's token costs versus its subscription price, which isn't ideal when it's spending hundreds of billions of dollars on AI.

META Meta Platforms$741.30+$3.76 (+0.51%)

NASDAQ · As of 1:25 PM ET 10/15/26

The consumer-side competition will heat up, too
The other problem I think Meta will face with Muse is that, very soon, it probably won't be a unique product. While Meta beat many of its rivals to the punch in offering a consumer-first personal AI agent that can accomplish useful everyday tasks, it certainly won't be the last. Apple has already inched closer to this area with its newest version of Siri.

And while Siri can't yet book hotels or shop online for you, it likely could soon. If it does, Apple could eventually have the upper hand in this space because of its focus on consumer privacy.

Even with Muse's popularity, Meta consumers don't have much trust in the company's privacy practices. A recent Oppenheimer survey found that just 8% of respondents said they'd trust Meta with their passwords, compared with 30% for Alphabet and 23% for Apple (which took the No. 1 and No. 2 spots).

Even if Muse successfully fends off the competition for a while, it doesn't change the fact that Meta is burning through piles of cash. And with the company still generating the vast majority of its $200 billion in annual revenue from advertising, Muse's subscriptions aren't likely to make much of a dent in Meta's sales either.

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Tim Cook and Mark Zuckerberg have clashed for years, but with John Ternus taking the reins at Apple, the rivals are finding common ground in artificial intelligence.

Meta and Apple revealed a new collaboration Thursday that will enable developers to easily run Meta's new open-weight AI model on Apple's high-end desktop computers.

The collaboration centers on Muse Spark Open, the most capable open-weight model released under a license that allows for limited commercial use, according to Meta. It's an 816-billion-parameter model using a so-called mixture-of-experts architecture. As an open-weight model, developers can download the technology's parameters, or weights, from the internet and run the model on a wide range of hardware.

Customers will be able to pair between two and four Mac Studio PCs to use Muse Spark to code, analyze video or do other agentic work. The model runs locally, instead of in the cloud, adding a layer of security and saving users money, the companies said.

Thursday's announcement, following months of collaboration, is a sign that the AI boom has shifted historical alliances in Silicon Valley. For years, Apple and Meta regarded each other warily and avoided public partnerships, and the relationship hit rock bottom after Apple introduced privacy changes in 2021 that limited the targeting capabilities of digital ad companies. Meta estimated in early 2022 that the change would cut its revenue that year by $10 billion.

Representatives from Apple and Meta declined to say if the Muse Spark Open collaboration was the start of a deeper relationship.

Meta AI chief Alexandr Wang said in an interview that many powerful open-weight models are too big to be run on the majority of personal computers, but Apple's Mac Studios make enough memory available to users so that it's practical to run Muse Spark Open.

The move represents an important show of confidence in Meta's rebooted AI efforts and could pose a challenge to OpenAI and Anthropic. It could also signal Apple's growing strength in AI chips, a market that Nvidia has dominated so far due to their prevalence in large data centers.

"We worked with Apple to bring leading Agent capabilities to your desktop for the first time on the Apple M5 Ultra Mac Studios, so you know we're really excited about this," Wang said. Developers can download a version of the AI model from websites like Hugging Face without extra configuration for Apple's silicon. Muse Spark Open has also been tuned to run faster on Apple's hardware, and the iPhone maker revealed new benchmarks for its chips and published technical documentation about its MLX AI framework's ability to split open-source models across multiple machines. 

Mac Studios aren't cheap though, and this AI model requires the fastest Apple chips and as much memory as possible.

Currently, a Mac Studio with the required M5 Ultra chip and 256GB of memory costs at least $10,799. A more expensive version with 512GB of RAM will be released later this month.

Plus, users will need to buy multiple machines.

Common ground on open sourceThe two companies are collaborating on open-source AI, which has become a point of contention in Washington as politicians worry that free Chinese models could undercut American AI. Although Meta once centered its AI strategy on its older open-weight Llama family of models, it has since focused on creating proprietary models under the leadership of Wang, who joined Meta when the company invested more than $14 billion into his former startup Scale AI last year.

While Apple and Meta, then known as Facebook, partnered on iPhone extensions over a decade ago, they haven't struck any public partnerships since 2017 after Apple removed system-level Facebook integration from the iPhone.

"Most of the animosity predates my tenure at the company, but obviously there's been a long history between Meta and Apple," Wang said, pointing to one member of his team, AI researcher and former Apple director Daniel Gross, as a reason for the collaboration. Gross, along with former GitHub CEO Nat Friedman, was a major Zuckerberg hire last year as the Facebook founder was overhauling his company's AI strategy.

Their leaders have also traded harsh words.

Cook, who was Apple CEO until Ternus succeeded him last month, took a shot at Zuckerberg in 2018, during the Cambridge Analytica scandal, saying, "I wouldn't be in this situation." Cook often criticized Meta for compromising user privacy.

Zuckerberg has also insulted Apple in public, telling Joe Rogan last year that the company "hasn't invented anything great since the iPhone." Zuckerberg has long sought to find a platform that Meta can own so it's not beholden to Apple.

Ternus, a hardware engineer, has already started changing things at Apple, including when it releases products.

And Meta's developers haven't been able to resist Apple's products. The company bought hundreds of Mac computers so its Superintelligence team could experiment with local AI and agents earlier this year.

Apple's multiple partnersMeta is just the latest AI model developer to team up with Apple.

In 2024, Apple announced a partnership with OpenAI to integrate ChatGPT into Siri, although the integration "dramatically underperformed" and didn't lead to OpenAI user growth, OpenAI said in a filing that's part of a legal dispute with Elon Musk's xAI. Apple sued OpenAI in July, alleging trade secret theft, a claim OpenAI denied.

Earlier this year, Apple announced a deal with Google, to use its Gemini models in Apple Intelligence as well as Google Cloud infrastructure.

Still, Apple's AI strategy has drawn criticism from investors and customers in part because its new version of Siri, released last month, isn't as advanced as chatbots and agents from leading labs.

Meanwhile, Meta has bet big on becoming a leading lab but has struggled to keep up with the competition and its business remains almost entirely reliant on ads. Recent developments, such as Meta's Muse personal agent app and its latest proprietary foundation model, Muse Wonder, released earlier this week, have begun to excite investors who are optimistic about new AI business opportunities.

Open source remains part of Zuckerberg's AI strategy. In August, Meta debuted a small open-weight AI model dubbed Muse Glimmer, with Zuckerberg pledging to eventually release something bigger and more powerful.

Muse Spark Open isn't as advanced as Muse Wonder, a proprietary offering, but Wang said it's good enough to potentially entice more coders to upgrade.

"These aren't the most capable models that we've developed or released," Wang said. "But we think that there will be a lot of companies and developers who sort of use this model and tinker with it at small scale and then seek to ramp up and scale up their usage."

WATCH: Apple makes its biggest smart-home push yet under CEO John Ternus.

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Azure is booking revenue faster than almost any cloud business in history, yet its leadership reportedly just told team heads to slash costs by a fifth. Something about the math behind that explosive growth is not adding up.

Azure group at Microsoft (NASDAQ:MSFT | MSFT Price Prediction) was told to cut costs by at least 20%, and Microsoft denied it the same day. The stock closed down 1.80% at $533.69. That left a $3.96 trillion market value, back below $4 trillion after a $4.04 trillion close on October 13.

The report, which cited people familiar with the plans, said Girish Bablani, head of the Azure group that builds software for Microsoft’s cloud servers, asked team leaders for the cuts. That group has about 11,500 staff.

Azure brought in $101.9 billion in revenue in the 12 months ending in June, up 40% from a year earlier. A business growing that fast seldom goes looking for a fifth of its cost base unless the growth costs more than it appears to or the money is needed for something bigger, and at Microsoft both may be true.

Reported Target Versus Company Denial
The reported savings would help pay for AI data center spending and for higher pay to keep engineers that rivals such as Anthropic are trying to hire. Ending contracts with outside vendors was one possible step.

The report did not say whether it would cut jobs. A spokesperson said “Azure leadership has not directed teams to develop cost-cutting plans,” and added, “Every responsible company prepares for a range of scenarios and market dynamics, both positive and negative.”

Capex, meaning money spent on data centers and chips, reached $115.95 billion in fiscal 2026. Management expects it to reach about $175 billion in fiscal 2027.

That spending has to come out of the operating business. In the June quarter, free cash flow fell 23.19% to $19.64 billion, and Microsoft has guided fiscal 2027 operating margins down less than a point. Cutting costs inside Azure is the most direct way to hold that margin while the capex bill keeps climbing.

Talent and Leadership Signals
If Microsoft pays more to keep engineers and still cuts costs by a fifth, the savings would have to come from contractors, vendors, and projects. Those suppliers are the first places to look for any effect.

Cloud chief Scott Guthrie is also reshaping Azure’s leadership, and Arun Ulag is set to manage Bablani. A reorganization that arrives with a cost push points to closer control of the unit.

Chief financial officer Amy Hood addressed capacity on the July 29 call. She said, “demand continues to exceed available supply.”

Commercial remaining performance obligations, which measure signed revenue Microsoft has not yet recognized, rose 84% to $678 billion. Given the backlog and a record-high close on October 13, a small dip on a denied report looks reasonable.

What MSFT Investors Should Watch Next
If the reported cuts are real, they target overhead so Microsoft can pay for capacity customers have already signed up for, and that is a funding decision tied to strong demand. The shares are up 11.06% year to date and trade at about 30 times earnings, a multiple investors can weigh against this growth.

For comparison, Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) has posted faster cloud growth, with Google Cloud’s growth running from 32% to 63% over recent quarters. Both companies report after the close on October 28. If Microsoft keeps its margin outlook and its approximately $175 billion capex plan, the report likely carries little weight for the outlook. A lower margin outlook or disclosed restructuring charges would change that view.

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Chip designers are quietly providing credit support for the physical deployment of their own hardware. This direct financing maneuver helps to de-risk power infrastructure projects, transforming speculative infrastructure stocks into asymmetrical momentum vehicles as the artificial intelligence (AI) energy bottleneck tightens. The data center buildout is becoming so capital-intensive that semiconductor sector creators are stepping in to help ensure their chips actually get plugged into the grid.

This structural shift became evident when Fermi Inc. NASDAQ: FRMI recently secured a credit support agreement with Advanced Micro Devices NASDAQ: AMD. The deal underwrites an initial 222-megawatt lease for Fermi's Texas-based Project Matador, sparking immediate trading volume and an initial rally in Fermi shares that reversed the following session.

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Investors looking to capitalize on the next wave of artificial intelligence growth may find the true value not just in computing chips, but in the entities generating the physical power to run them. The mechanics of this partnership reveal a broader industry trend worth dissecting.

The Credit Lifeline: Securing Downstream DeploymentAdvanced Micro Devices Today

AMD

Advanced Micro Devices

$553.66 -17.16 (-3.01%)

As of 01:43 PM Eastern

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$658.52142.24

$603.51

Advanced Micro Devices possesses vast capital reserves, operating with a debt-to-equity ratio of around 0.03 and a current ratio well over 2.50. This balance sheet elasticity allows Advanced Micro Devices to act as a pseudo-lender for strategic infrastructure. By backing Fermi's 222-megawatt lease in Carson County, Texas, the semiconductor giant helps to ensure that energy constraints do not bottleneck the physical deployment of its own computing hardware.

The partnership outlines a framework extending up to 650 megawatts of gross power capacity across future phases. For a hardware vendor focused on gaining market share from dominant peers, subsidizing local power generation makes strategic sense. Without electrical power, expensive computing chips sit in warehouses collecting dust. By extending this credit lifeline, chip designers are actively participating in the physical infrastructure buildout. They are effectively buying the necessary grid capacity to keep hardware sales moving into active data centers.

Turbines and Tenant LeasesFermi Today

$3.28 +0.13 (+3.96%)

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While the financial backing provides essential market validation, Fermi's core thesis rests on physical execution. Over the past few months, Fermi transitioned Project Matador from a conceptual endeavor into a tangible operating asset.

In late September, Fermi took delivery of Siemens turbines, securing about 780 megawatts of combined generation capacity. A few days later, Fermi selected CBRE Group to operate and maintain its initial data center footprint. The heavy lifting of physical procurement and facility management is largely secured.

Project Matador aims to deliver behind-the-meter private grid power, integrating utility connections with combined-cycle natural gas, solar, battery storage, and advanced nuclear energy. Public grid connections face severe permitting backlogs and long wait times, but behind-the-meter setups let data centers draw power directly from co-located generation assets. With over $1.5 billion invested in the site buildout to date, the project is moving past the speculative development phase and into the operational runway.

Finding the Floor: Book Value Vs. Headline NoiseMarket sentiment around Fermi remains heavily suppressed. Year-to-date, Fermi's stock price has drawn down roughly 60%, dragged lower by retail bearishness, a noisy corporate governance dispute involving former executives, and acute liquidity concerns.

Fermi's current ratio hovers around 0.61, signaling near-term capital friction that the broader market aggressively priced into the valuation. Short interest remains elevated, reflecting skepticism about management's ability to fund multi-gigawatt expansions without highly dilutive equity raises.

The institutional perspective paints a contrasting picture. Sell-side analysts maintain a strong consensus around Fermi, with average price targets just over $20, suggesting upside that dramatically outpaces current trading levels. This conviction is anchored by a solid valuation floor. Fermi trades with a price-to-book ratio near 2.0, supported by a book value of about $1.78 per share.

When an asset trades this close to its book value, especially one with gigawatt-scale power generation equipment already on site, the market is pricing in a worst-case scenario. The recent credit intervention alters that risk profile.

For investors evaluating distressed infrastructure plays, the physical assets on the ground offer a slight margin of safety. The aggressive trading volume following the credit announcement, topping 87 million shares in a single session, suggests renewed investor interest in the company's financing outlook.

From Survival to Execution: Catalysts to WatchThe narrative surrounding Fermi is rapidly shifting from survival to commercial execution. As the broader market absorbs the implications of direct vendor financing in the utility space, several immediate catalysts will likely shape Fermi's next pricing cycle.

The primary operational hurdle involves converting the existing infrastructure into contracted recurring revenue. The closing date for a major data center lease with TensorWave has been extended to the end of October. This deadline aligns with the newly secured credit support framework, creating a clear window for speculative momentum to transition into formalized commercial visibility.

A delayed lease closing could renew liquidity fears, while a successful execution proves the thesis that backing from Advanced Micro Devices unlocks customer commitments. Investors evaluating the artificial intelligence infrastructure sector may want to monitor the closing of this lease agreement, along with Fermi's third-quarter earnings report expected in mid-November.

These events will provide crucial clarity on how effectively management is translating its deep-pocketed partnerships into sustained cash flow. Cautious investors might prefer to wait until these contractual commitments are finalized before adding exposure to this volatile utility transition.

Should You Invest $1,000 in Fermi Right Now?Before you consider Fermi, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fermi wasn't on the list.

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The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.

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Nvidia stock NVDA continued to fall on Thursday as a sell-off in artificial intelligence-linked stocks intensified amid concerns that rising interest rates could constrain AI investments and fresh data pointed to mounting US inflationary pressures.

Updates from Taiwan Semiconductor Manufacturing Company (TSMC) and AI startup Anthropic also weighed on sentiment, as investors reassessed the sustainability of AI spending, financing arrangements and the prospects of generating returns from the sector's massive infrastructure investments.

Nvidia shares fell more than 2.5% on Thursday, taking their losses over the past five trading sessions to about 8%.

The iShares Semiconductor ETF dropped more than 11% over the same period, reflecting widespread weakness across chip stocks.

Concerns about AI spending, financing costs and intensifying competition from China have weighed on semiconductor stocks throughout the week.

A hotter-than-expected US inflation report on Wednesday added to the pressure, pointing to price increases broadening beyond energy and potentially keeping interest rates elevated for longer.

US wholesale inflation for September, measured through the Producer Price Index (PPI), also rose 1.3% month over month and 6.3% annually, both exceeding economists' estimates.

Higher borrowing costs could increase the expense of building data centres and expanding computing capacity, while prompting investors to demand greater clarity on the returns from AI-related investments.

Further, fresh concerns emerged on Thursday after TSMC issued a cautious assessment of its business outlook for 2027, citing macroeconomic uncertainty and pressure on consumer and price-sensitive markets.

"Looking ahead, we continue to observe consumer and price-sensitive end-markets segments are being challenged due to the impact of rising component prices and macroeconomic uncertainties," TSMC Chief Executive C.C. Wei said on an earnings call.

"As ​such, we are being prudent in our business planning going into 2027."

However, TSMC reiterated that demand continued to far exceed its supply capacity.

The company expects full-year 2026 revenue to grow by about 44%, up from its previous forecast of more than 40% growth last quarter. Its US-listed shares fell 3% on Thursday.

Reports about Anthropic's third-quarter revenue also failed to lift sentiment.

The Claude maker generated $16.8 billion in revenue in the September quarter, according to the Financial Times, representing sequential growth of nearly 50%.

However, that marked a sharp slowdown from the roughly 145% sequential growth reported in the second quarter.

"The market appears to be reading the Anthropic update as negative, which is understandable considering how on-edge the market has been anyway about the AI trade," DA Davidson analyst Gil Luria said in a note to clients.

Luria described the update as "more mixed".

Anthropic reportedly generated positive cash flow in the third quarter, according to the Financial Times.

Luria said this could help demonstrate that Anthropic and OpenAI are not "inherently unprofitable businesses that could never be profitable."

The sell-off reflects growing scrutiny of the relationship between AI demand, financing requirements and profitability.

"For much of the rally, accelerating AI investment was enough to lift almost everything exposed to the theme. Now markets are becoming more demanding about profitability, financing and capital discipline," said Charu Chanana, chief investment strategist at Saxo.

Chanana said there was insufficient evidence of a systemic AI credit crisis, but added, "The financing model behind the infrastructure boom is facing greater scrutiny."

"Investors should increasingly distinguish between strong demand, sustainable financing and attractive valuations. They are not necessarily the same thing," she said.

Baird technology strategist Ted Mortonson said investors were increasingly questioning which companies needed financing and how much that financing cost.

"I think the street is tiring of the Bank of Nvidia, the Bank of AMD and the Bank of Broadcom," Mortonson told Yahoo Finance senior reporter Brooke DiPalma, referring to Nvidia, Advanced Micro Devices and Broadcom.

"This is very unusual in this cycle… It's not going over well with the institutional community," he added.

Mortonson pointed to "a higher cost of capital" and "a lot of scrutiny now on circular finance," which he said was "coming out of the Anthropic research meeting."

The latest developments suggest investors are becoming more selective about AI-related stocks, weighing strong demand for computing power against rising financing costs and the need for sustainable profits.

Volvo is leveling up its automated driving system through an expansion of its nearly decade-long partnership with Nvidia. The companies announced on Thursday that Volvo will use three pieces of Nvidia hardware and software in its future vehicles to provide an automated driving system that can navigate urban streets and highways.

Under the expanded partnership, Volvo will combine its vehicle safety systems and engineering with Nvidia’s Hyperion sensor and compute architecture, Alpamayo driving software stack, and Halos safety evaluation layer.

The Alpamayo stack is redundant and diverse, according to Ali Kani, who heads up Nvidia’s automotive division. It combines Alpamayo, a family of AI models, datasets, and simulation and development tools used to build autonomous-driving software, with classical software that uses machine learning and camera and radar perception, he said.

“The point is we run these two stacks at the same time, and we have multimodal sensors in our philosophy because because it’s a safer product that way,” Kani said, adding that the open-source Alpamayo software has now been downloaded by more than 650,000 developers.

Volvo didn’t reveal the value of the partnership or which vehicle model would be the first to use this new Nvidia tech stack. But Alwin Bakkenes, Volvo’s head of software development, hinted at the scale of the deal and how it represents the automaker’s evolution toward developing a full-tech stack designed for its electric vehicles as well as its plug-in hybrids and gas-powered vehicles.

“Automakers used to be very much like car-line based development and working with various suppliers, etc. and we have completely changed and migrated into being a full tech stack company,” Bakkenes said, adding that Volvo will start this partnership with a brand new vehicle that “will come in the not-too-near future.”

He said the first vehicle with this new Nvidia tech stack will debut within the decade, and “then of course the technology can go beyond that.”

While Volvo’s relationship with Nvidia isn’t new, the expanded partnership represents the automaker’s effort to bring the latest automated driving software to all of its vehicles — not just its EVs.

All of Volvo’s battery-electric vehicles use Nvidia’s Orin computer chip, which processes information from cameras, radar, and other sensors to help a vehicle understand its surroundings and make driving decisions.

“What we’re going to do in the future is actually standardize more on Hyperion — also from a sensor set perspective — to really open up the stack for for the wider partnership with Nvidia,” Bakkenes said.

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Kirsten Korosec is a reporter and editor who has covered the future of transportation from EVs and autonomous vehicles to urban air mobility and in-car tech for more than a decade. She is currently the transportation editor at TechCrunch and co-host of TechCrunch’s Equity podcast. She is also co-founder and co-host of the podcast, “The Autonocast.” She previously wrote for Fortune, The Verge, Bloomberg, MIT Technology Review and CBS Interactive.

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Rising long-term yields are deepening unrealized losses in big banks’ securities portfolios, with Bank of America (NYSE:BAC) showing a sharp jump in paper losses.

The bank reported $109 billion in unrealized losses on its bond holdings for the third quarter, up from $85 billion at the close of June, while fixed income, currencies and commodities trading revenue fell 17% from a year earlier.

Bank of America Faces $1.2 Billion FineAdding to its challenges, Bank of America was hit with more than $1.21 billion in penalties by U.S. regulators for anti-money laundering and sanctions violations.

The U.S. Treasury announced the penalties on Tuesday, marking the third-largest penalty in Treasury history. The Office of the Comptroller of the Currency contributed $750 million, the largest penalty in the agency’s history.

The compliance failures have raised questions about future expenses and the duration of the regulatory order. Bank of America admitted to willfully violating the Bank Secrecy Act.

Analysts Adjust Bank of America RatingsDespite these setbacks, analysts are adjusting their ratings on Bank of America. In a Thursday note, RBC Capital analyst Gerard Cassidy maintained an Outperform rating but lowered the price target from $65 to $60.

Baird analyst David George upgraded the bank from Neutral to Outperform, maintaining a price target of $62. These adjustments reflect the ongoing assessment of the bank’s financial health and market position.

Bank of America Misses Earnings EstimatesBank of America’s financial performance has also been under scrutiny. The bank reported quarterly earnings of $1.08 per share, missing the analyst consensus estimate of $1.11. Revenue came in at $29.96 billion, falling short of the $30.69 billion estimate.

The earnings miss, coupled with the recent penalties, has put additional pressure on BAC stock performance. The results were released on Wednesday, highlighting the challenges the bank faces in meeting market expectations.

Technical AnalysisBank of America closed at $51.39 as of Oct. 14, 2026. The stock’s RSI(14) is at 22.63, indicating it is oversold. BAC trades 13.66% below its 50-day SMA of $59.52 and 6.95% below its 200-day SMA of $55.23. The 50-day SMA remains above the 200-day SMA.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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SAN JOSE, Calif.--(BUSINESS WIRE)--Adobe (Nasdaq: ADBE), the global technology leader that unleashes creativity, productivity and customer experiences through innovative tools and platforms, and NVIDIA today announced an expansion of their partnership to optimize Adobe’s flagship tools including Adobe Photoshop, Premiere, Substance 3D, Frame.io and Brand Concierge, delivering faster AI-powered creation, production and personalization.

This work builds on Adobe and NVIDIA’s strategic partnership announced in March, which brings together Adobe’s creative and marketing workflows, models and technology with NVIDIA’s open models, libraries, research and accelerated computing to accelerate creative, production and marketing workflows across video, images, 3D and other creative media. That collaboration includes GPU acceleration for media ingestion and intelligence in Frame.io, as well as ongoing work around Adobe Substance 3D, Adobe Firefly Foundry and 3D digital twin workflows for enterprise customers.

“Creative workflows are more multimodal than ever, with many projects spanning images, video, audio, motion and 3D, making performance critical to helping creatives stay focused on their ideas and craft,” said Deepa Subramaniam, vice president, product marketing, creative professionals, Adobe. “By partnering with NVIDIA to optimize Photoshop, Premiere and Substance 3D for RTX Spark and accelerating Frame.io in the cloud, we’re delivering the performance creatives need to bring their ideas to life.”

“AI agents are helping creators unlock deeper and richer workflows using the Adobe applications they know and love,” said Jason Paul, vice president, local AI, NVIDIA. “Powered by RTX Spark, Adobe’s optimized tools deliver up to 2x faster performance to accelerate these new workflows.”

Empowering Creatives With Faster Adobe Tools Rearchitected With NVIDIA

Creative professionals today move between image, video, motion and 3D, sometimes all within the same project. As AI increasingly becomes part of the creative process, they need technology that keeps pace with the speed of their ideas and the complexity of their workflows. As an industry leader in creativity, Adobe's tools apply decades of creative expertise to amplify human potential and make it easier to quickly turn ideas into impactful work.

Adobe is bringing the power of the NVIDIA RTX Spark superchip, which NVIDIA launched earlier this month, to its agentic creative applications Photoshop, Premiere and Substance 3D. RTX-accelerated and optimized to take full advantage of RTX Spark’s unified memory and AI compute, these applications deliver up to 2x faster AI processing, editing, color and effects, helping creatives iterate faster and stay in their creative flow.

Adobe rearchitected Photoshop around GPU-accelerated compositing to be faster and more responsive for creative tasks from removing distractions with the Remove Tool to applying effects like Gaussian Blur and Light Leaks directly on canvas.

Some of the most demanding post-production workflows in Premiere, from playback and rendering, to effects, color and AI-powered tools, are RTX-accelerated and optimized for RTX Spark. This results in real, tangible speed gains for popular audio and video features in Premiere like Enhance Speech and Object Mask. For 3D artists using Substance 3D Painter, RTX Spark speeds up the heaviest steps around texturing.

Accelerating Cloud Video Workflows With Frame.io and NVIDIA

Adobe is also using NVIDIA accelerated computing to speed cloud media processing and intelligent content discovery for Adobe Frame.io, helping production teams find and use growing media libraries faster. The updated Frame.io pipeline uses NVIDIA video acceleration, including NVIDIA NVDEC for hardware-accelerated decoding and NVIDIA TensorRT ™ with CUDA™ for content preprocessing and embedding generation.

Moving compute-intensive video decoding, preprocessing and embedding generation onto NVIDIA GPUs lets Frame.io process media faster and make it searchable sooner, while supporting more responsive discovery across large content libraries.

Early performance results from selected Frame.io transcode and search workloads show:

Approximately 5x faster embedding generation 4-5x improvement in P95 processing latency An approximately 80% smaller search proxy For creative teams, these gains mean uploaded content becomes searchable sooner, larger libraries refresh more efficiently, and discovery and review stay frictionless as media volumes grow.

Personalized Conversational Experiences With Adobe Brand Concierge Optimized On NVIDIA Nemotron

Brands also want more choice and value from the AI models powering personalized experiences. Open models can help meet that need, providing a flexible and efficient way to deliver high-quality, responsive conversations at enterprise scale.

Adobe and NVIDIA worked together to optimize Brand Concierge using NVIDIA Nemotron™ open models. This version will be available to enterprise customers later this year. NVIDIA has also selected Brand Concierge to drive personalized conversational experiences grounded in organizational data and content. This enables NVIDIA to tailor interactions on their website based on customer needs, while leveraging Nemotron to deliver fast, high-quality responses at scale.

Sparking Creativity, to the MAX

Get ready for what’s next — with three days of creative skill-building, visionary keynotes and valuable connections at Adobe MAX, running Nov. 10-12. Adobe and NVIDIA will showcase the latest advancements for creators alongside their hardware partners.

About Adobe

Adobe (Nasdaq: ADBE) empowers everyone to create through industry-leading platforms and tools that unleash creativity, productivity and personalized customer experiences. For more information, visit www.adobe.com.

About NVIDIA

NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.

NVIDIA Forward-Looking Statements

Certain statements in this press release including, but not limited to, statements as to: expectations with respect to growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, and related trends and drivers; expectations with respect to NVIDIA’s third party arrangements, including with its collaborators and partners; expectations with respect to technology developments, and related trends and drivers; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on NVIDIA’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2026 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, and other NVIDIA product and service names are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries and regions. Other company, product, and service names may be trademarks of the respective companies with which they are associated.

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The S&P 500 has gained nearly 14.1% so far this year (as of Oct. 9). But much of the market's earnings growth remains concentrated in major technology companies.

According to London Stock Exchange Group (LSEG), S&P 500 earnings are expected to grow around 31% year over year in the third quarter. The global financial markets data and infrastructure provider also expects technology sector and prominent artificial intelligence (AI) players such as Alphabet, Amazon, and Meta Platforms to account for roughly two-thirds of that earnings growth.

Image source: Getty Images.

While the current focus is mainly on AI companies building computing capacity and infrastructure, I expect the next phase of AI adoption will benefit businesses generating measurable productivity gains from AI.

If I had to buy one stock today to benefit from this shift through 2030, it would be Synopsys (SNPS -3.17%). The company provides the software and intellectual property (IP) used to design increasingly complex chips and engineering systems.

The market's next winners may not build AI data centers The U.S. 10-year Treasury yield reached approximately 5.24% on Oct. 9. Morgan Stanley projects that AI infrastructure will need roughly $1.5 trillion in outside funding by 2028. With interest rates remaining elevated, the challenge for companies is not just expanding computing capacity but generating enough profits to justify the enormous investment.

SNPS Synopsys$464.71-$15.22 (-3.17%)

NASDAQ · As of 1:14 PM ET 10/15/26

Hence, I expect investors to increasingly reward companies that make AI computing more efficient and profitable by 2030. The demand for specialized processors, industrial automation, and AI-assisted engineering could accelerate as businesses focus on reducing costs and improving productivity.

While this trend could broaden earnings growth beyond today's dominant AI infrastructure suppliers, established leaders such as Nvidia and Amazon could continue benefiting from growing computing demand. Synopsys, on the other hand, stands to benefit from the increasing number and complexity of chip designs as companies develop computing solutions tailored to different applications.

Synopsys could capture more value from its customers The bigger opportunity for Synopsys lies in changing how it earns revenue. Synopsys earns licensing fees when customers use its IP in chip designs, with some agreements also generating royalties from chip sales.

In September 2026, Synopsys announced a multi-year licensing agreement worth more than $1 billion with Amazon for customized semiconductor IP for multiple generations of chips. The agreement's licensing value excludes potential royalties, which could provide Synopsys with additional revenue as Amazon's chip production increases.

Synopsys' $34.9 billion acquisition of Ansys could also help it generate more revenue from existing customers. Engineers designing advanced chips must account for how heat, electrical interference, and other physical factors affect performance. Synopsys has already launched products that bring these simulations into the chip-design process. Management expects the combination of new products and cross-selling to generate $400 million in additional annualized revenue by fiscal 2029.

The company's partnership with OpenAI could create another growth opportunity. The companies are developing a specialized model GPT-Synopsys to automate certain chip-design tasks. Synopsys' existing tools will help verify the results. The companies also plan to share revenue from the offering. However, Synopsys still needs to prove that increased use of AI-powered tools can offset any decline in demand for traditional software licenses.

Synopsys' ambitious 2030 financial targets Synopsys' reported revenue jumped 49.2% year-over-year over the first nine months of fiscal 2026. However, much of that growth came from its Ansys acquisition. Comparing revenue as if Ansys had been part of Synopsys in both years suggests growth of only about 7.4%. This is an approximate comparison, not the company's official organic growth rate.

The company's Design IP revenue declined 0.7% year-over-year over the first nine months of fiscal 2026. Yet, management is now targeting annual growth of at least 17% for the Design IP business from fiscal 2026 through fiscal 2030. Achieving that target would require a significant acceleration from its recent performance.

Management expects approximately $11.15 billion revenue in fiscal 2027. The company is also targeting 15% annual revenue growth from fiscal 2026 through fiscal 2030. If achieved, revenue could reach nearly $17 billion by fiscal 2030. The company's targeted 50% non-GAAP operating margin would translate into approximately $8.5 billion in adjusted operating income in fiscal 2030.

The cash-flow projections are equally important. Synopsys expects around $3.1 billion in free cash flow in fiscal 2027. The company is also targeting annual free cash flow growth in the mid-20% range from fiscal 2026 through fiscal 2030. Assuming 25% annual growth, free cash flow could nearly double to $6.1 billion by fiscal 2030. This would imply an improvement in free cash flow margin from around 28% in fiscal 2027 to 36% in fiscal 2030. Hence, achieving these projections would require not only higher revenue but also better cash generation from each dollar of sales.

Synopsys' valuation leaves little room for mistakes Synopsys shares were trading at approximately 27 times projected fiscal 2027 adjusted earnings and 61 times GAAP earnings (as of Oct.9). The lower adjusted PE multiple excludes expenses such as acquisition-related amortization and stock-based compensation.

The company expects around $960 million to $980 million in stock-based compensation in fiscal 2027, or around 31% to 32% of its projected $3.1 billion in free cash flow. Issuing shares to employees could dilute existing shareholders, while repurchasing shares to offset that dilution would consume cash.

Management is also targeting annual adjusted earnings growth in the mid-20% range through fiscal 2030. Assuming 25% annual growth from the midpoint of its fiscal 2027 EPS guidance of $19.08, adjusted EPS could reach approximately $37.27 by fiscal 2030.

However, at 20 times those earnings, the stock could reach approximately $745 by fiscal 2030, representing 46% upside. A lower multiple of 15 would imply just $559, or 10% upside. These scenarios show how valuation changes could limit shareholder returns despite strong earnings growth.

Hence, I would buy a modest position in Synopsys, while paying attention to accelerating underlying revenue growth, improving Design IP profitability, and higher free cash flow per share.

Key Takeaways Synopsys' Design IP revenues rose 11% year over year in fiscal Q3 2026, reaching 19.1% of total revenues.Synopsys' IP business targets doubling year over year, with more than 100 cumulative design wins.Automotive design-win rates exceeded 90% for 3 consecutive quarters as ADAS shifted to 5nm & 3nm technologies. Synopsys’ (SNPS - Free Report) Design IP includes logic libraries, embedded memories, wired interface IP, memory interface IP and security IP. In the third quarter of fiscal 2026, Design IP accounted for 19.1% of total revenues and increased 11% year over year, while the adjusted operating margin improved to 26.5%.

Synopsys holds a leading position in interface and foundation IP. The business is increasingly focused on areas benefiting from AI-driven semiconductor complexity. Synopsys said demand for high-speed interconnect IP is accelerating because of AI’s massive data requirements.

Synospys’ standards-based IP that can be developed once and licensed repeatedly across customers and applications is gaining traction. Its portfolio includes high-speed interface, memory and die-to-die connectivity IP, which are increasingly important as AI systems require higher bandwidth, faster data transfer and more complex chip architectures.

IP business is on track to double year over year, with cumulative design wins exceeding 100. In automotive, the company maintained a design-win rate above 90% for three consecutive quarters as advanced driver-assistance systems (ADAS) transitioned to 5-nanometer and 3-nanometer technologies. Its USB IP portfolio has also surpassed $2 billion in lifetime bookings.

SNPS’ also focuses on developing differentiated IP subsystems and enabling custom silicon solutions tailored to customers’ workloads and architectures. Hyperscalers, ASIC vendors, foundries and semiconductor companies are seeking deeper engineering collaboration to accelerate chip development through this model.

How Competitors Fare Against SNPSSynopsys operates in a highly competitive market, with major rivals, including Cadence Design Systems Inc. (CDNS - Free Report) and Keysight Technologies (KEYS - Free Report) . These companies serve different stages of the electronic and IC design lifecycle, offering specialized tools and solutions that help customers improve product development, design efficiency and testing.

Keysight Technologies competes primarily across electronic design, measurement and testing, with software and solutions covering areas such as electromagnetic analysis, circuit simulation and hardware verification. Meanwhile, Cadence Design Systems is benefiting from increasing design complexity and growing customer investments in AI-powered automation.

Cadence is also strengthening its position through its expanding Cadence.ai portfolio. New offerings, including AgentStack, ChipStack, ViraStack and InnoStack AI Super Agents, are broadening the company’s AI capabilities across the design workflow and could help Cadence maintain its momentum as AI adoption accelerates.

Synopsys Performance and ValuationSynopsys’ shares have appreciated 19.3% in the past month, outperforming the Zacks Computer and Technology sector’s return of 2.2%.

SNPS YTD Performance Chart
Image Source: Zacks Investment Research

The outperformance in the stock price led to a premium valuation, with SNPS stock trading at a P/S multiple of 8.44X, much above the industry P/E multiple of 6.37X. The premium valuation is further established by a Zacks Value Score of F.

SNPS Forward 12-Month (P/S) Valuation Chart
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for SNPS’ fiscal 2026 earnings is pegged at $15.13, indicating 17% year-over-year growth. Estimates have been revised upward in the past 60 days.

Image Source: Zacks Investment Research

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

NEW YORK, Oct. 15, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Baidu, Inc. (NASDAQ: BIDU) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Baidu securities between November 18, 2025 and August 17, 2026, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/cases/baidu-inc-bidu-class_action_lawsuit.

Baidu Case Details

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that:

Baidu overstated the ability of its AI business to mitigate rapid declines in its legacy online marketing business;as a result, Baidu’s revenue was reasonably likely to decline; andas a result of the foregoing, Defendants’ positive statements about Baidu’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. What's Next for Baidu Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/cases/baidu-inc-bidu-class_action_lawsuit. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Baidu you have until November 13, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Baidu Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Baidu Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

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

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

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Lyft is starting Alcove, a new brand aimed at business travelers.

Paul Bersebach/MediaNews Group/Orange County Register via Getty Images

Lyft is creating a new brand to target the business travel market.

The division, called Alcove, will combine new corporate travel offerings with UK-based TBR Global Chauffeuring, which Lyft acquired last year for the equivalent of $110 million.

Alcove will provide "the highest levels of service" with "great chauffeurs," Lyft CEO David Risher said in a statement Thursday.

"Like the bridge instead of the tunnel? Prefer 72 degrees? Want the rear window open just a bit? That's what Alcove will offer," he said.

Alcove is the latest effort by a ride-hailing company to tap into business and executive travel — a market that companies believe is more lucrative than your average ride.

In March, Uber started its own version, called Elite, as a similar black-car service "designed for executives, frequent travelers, and riders looking for a more elevated experience," the company said. The same month, Uber acquired Berlin-based chauffeur service Blacklane.

The global chauffeur market is worth "tens of billions of dollars," Lyft said in its statement announcing Alcove.

Alcove will initially work directly with companies and travel management firms, Lyft said. The company plans to formalize the new brand by unveiling a new portal and a mobile app next year, it said.

Do you have a story idea about Uber or Lyft? Contact this reporter at [email protected] or via encrypted messaging app Signal at 808-854-4501. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.

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Alex Bitter is a senior retail reporter covering Uber, Lyft, DoorDash, Instacart, and related companies. His coverage ranges from the experiences of gig workers to what's happening inside the world's biggest ride-hailing and delivery companies.Alex has also written about the retail and food industries. Convenience store chain Sheetz ended its "smile policy" after his reporting. Alex lives in the Washington, DC, area, where you can find him studying ancient coins or searching for Civil War artifacts with his metal detector in his free time.Got a tip? Reach out at [email protected] or via encrypted messaging app Signal at +1 (808) 854-4501.

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Wall Street analysts are chasing Micron with targets that leave our model cold, and the gap between their optimism and our measured call comes down to one overlooked risk lurking beneath record-breaking earnings.

Our 24/7 Wall St. price target for Micron Technology (NASDAQ:MU | MU Price Prediction) is $1,059.58 over the next 12 months. With shares at $982.14 in Monday trading, that implies about 7.9% upside. Our call is hold, and our model carries a high confidence reading of 90%.

24/7 Wall St. Price Target Summary Metric Value Current Price $982.14 Price Target from 24/7 Wall St. $1,059.58 Upside/Downside 7.9% Recommendation HOLD Confidence Level 90% The Street’s targets run well above ours. The consensus analyst target of $1,555.13 implies roughly 58% upside, and 92% of covering analysts lean bullish. My model is more measured, and the reasons come down to where memory sits in its cycle.

China Competition Fears Hit a Stock Up Over 240% This Year Micron has fallen 8.63% over the past week and 4.44% over the past month, though it remains up 244.33% year to date. Monday’s 4.55% drop followed reports that Chinese rival CXMT is progressing a new chip (Barron’s). Shares now trade about 22% below the 52-week high of $1,254.81.

The fundamentals remain extraordinary. Fiscal Q4 revenue reached $54.23 billion, beating estimates of $50.97 billion, while non-GAAP EPS of $33.42 exceeded the $31.35 consensus. Guidance for fiscal Q1 calls for $61.50 billion in revenue and EPS of $38.15.

Why Bulls See $1,354 Ahead Management expects DRAM and NAND conditions to “remain tight beyond calendar 2027,” and HBM4 is now in high-volume shipments for the lead AI accelerator platform. The bigger story is the Strategic Customer Agreements.

Micron said 14 of its first 16 agreements carry roughly $100 billion in minimum-price revenue, with floor prices delivering margins above any prior cycle peak. If that visibility earns a higher multiple, our bull case reaches $1,354.11.

Cyclical History Still Matters Micron posted EPS of -1.91 as recently as fiscal Q2 2023, a reminder of how fast memory pricing can reverse. Capex hit $30.7 billion in fiscal 2026, and CXMT’s progress raises supply questions.

The bear case sits at $791.94. In fairness, that spending funds capacity backed by take-or-pay contracts, and fiscal Q4 free cash flow of $33.20 billion covers it well.

Micron Looks Cheap Next to SanDisk and NVIDIA SanDisk (NASDAQ:SNDK) offers the best pure-play NAND comparison. It trades at a forward P/E of 8x, slightly higher than Micron’s 7x, despite Micron’s added HBM exposure.

NVIDIA (NASDAQ:NVDA) drives much of Micron’s HBM demand. Its forward P/E of 25x and PEG of 0.479 compare with Micron’s PEG of 0.16. Our target looks conservative relative to both peers.

Company Forward P/E Analyst Target Micron 7x $1,555.13 SanDisk 8x $2,173 NVIDIA 25x $328.72 Micron Price Prediction 2026-2030 The 24/7 Wall St. price target of $1,059.58 supports a hold rating with 90% confidence. The deciding factor is cycle risk.

A more positive position would emerge if more agreements close and margins hold near guidance of 86.25%. I’d stay cautious if CXMT gains ground or pricing moderates. Micron is a high-quality business priced near fair value today.

Our model projects where Micron could trade at each year’s end, assuming current trends hold.

Year Price Target from 24/7 Wall St. 2026 $1,015.05 2027 $1,107.38 2028 $1,089.59 2029 $1,171.88 2030 $1,233.84 The projections rest on Micron continuing to execute on HBM and contract pricing. A faster AI expansion or a memory downturn could swing results sharply. For readers hunting the next monster run in AI silicon, we reverse-engineered what the biggest tech winners looked like early in a free playbook here.

Contact [email protected] for any questions or corrections.

Wall Street expects a year-over-year decline in earnings on lower revenues when Honeywell International Inc. (HON - Free Report) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on October 22, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

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

Zacks Consensus EstimateThis company is expected to post quarterly earnings of $2.17 per share in its upcoming report, which represents a year-over-year change of -61.5%.

Revenues are expected to be $5.01 billion, down 51.8% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.3% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

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

Price, Consensus and EPS Surprise

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

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

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

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

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

How Have the Numbers Shaped Up for Honeywell International?For Honeywell International, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.44%.

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

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

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

For the last reported quarter, it was expected that Honeywell International would post earnings of $1.8 per share when it actually produced earnings of $1.95, delivering a surprise of +8.33%.

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

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

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

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

Expected Results of an Industry PlayerAnother stock from the Zacks Diversified Operations industry, 3M (MMM - Free Report) , is soon expected to post earnings of $2.41 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +10.1%. Revenues for the quarter are expected to be $6.6 billion, up 4.5% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for 3M has been revised 0.8% up to the current level. Nevertheless, the company now has an Earnings ESP of -0.58%, reflecting a lower Most Accurate Estimate.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that 3M will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

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

Intuit Inc. (NASDAQ:INTU) stock is trading higher by more than 6% on Thursday after the company announced to acquire Sequence, an AI-native revenue management platform.

The acquisition expands Intuit’s revenue management offerings for mid-market businesses.

• Intuit stock is charging ahead with explosive momentum. Why is INTU stock surging?

AI-native ERP Expands for IntuitFounded in 2021, Sequence leverages AI to help B2B finance and commercial teams automate the full quote-to-revenue lifecycle, including deal configuration and pricing, billing, invoicing, collections, and revenue recognition.

The acquisition will strengthen the capabilities of Intuit’s Intuit Enterprise Suite, a resource planning and consolidation platform, and QuickBooks Online Advanced, its cloud-based accounting platform.

The acquisition will also expand Intuit’s reach to sectors, including B2B software, professional services, construction, healthcare, and manufacturing.

Sequence co-founder and CEO Riya Grover highlighted the growing need for revenue management automation as business complexity grows with usage-based and hybrid pricing revenue models.

Ashley Still, executive vice president and general manager, Small Business & Mid-Market Group at Intuit, said the acquisition further extends Intuit Enterprise Suite directly into industries that increasingly leverage AI consumption models and is a meaningful step forward for the company to deliver AI-native ERP for complex businesses.

Following the acquisition, Grover and the Sequence team will join Intuit’s Mid-Market product organization.

Intuit held $4.7 billion in cash and cash equivalents and had total debt of $7.7 billion as of July 31.

Financial terms of the deal were not disclosed.

Intuit Reiterates First Quarter and Full Year Fiscal 2027 GuidanceIntuit reiterated its financial guidance for the first quarter and full year fiscal 2027 in conjunction with its Investor Day on Sept. 17. 

Intuit expects fiscal 2027 revenue to be between $23.279 billion and $23.512 billion, representing 9% to 10% growth.

GAAP EPS is projected at $20.12 to $20.36, while adjusted EPS is expected at $22.88 to $23.12, compared with the analyst consensus estimate of $24.04.

The company expects first-quarter fiscal 2027 revenues between $4.29 billion to $4.31 billion and adjusted EPS at $2.44 to $2.48.

Analyst OutlookThe stock carries a Buy rating with an average price forecast of $378. Recent analyst moves include:

RBC Capital: Outperform (Maintains target to $385 on Oct. 2) Evercore ISI Group: Outperform (Maintains target to $400 on Sept. 18) Mizuho: Outperform (Maintains target to $430 on Sept. 18) INTU Price Action: Intuit shares were up 6.04% at $329.20 at the time of publication on Thursday, according to Benzinga Pro data.

Image via Shutterstock

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

, /PRNewswire/ -- Lockheed Martin Skunk Works® (NYSE: LMT) and The Royal Netherlands Aerospace Centre (NLR) today announced a broadening of their strategic partnership at NL-US Defense Industry Days. What began two years ago as an exploratory Memorandum of Understanding (MoU) has matured into a high-impact collaboration, rapidly transitioning advanced technologies from the research lab into operational solutions that directly support the mission readiness of the Royal Netherlands Air Force.

The Royal Netherlands Aerospace Centre

Tineke van der Veen, CEO of NLR, and Ron Fehlen, Vice President and General Manager of Skunk Works, sign an MOU to continue collaborating on advancing new defense technologies. This agreement between the two like-minded organizations highlights the power of combined world-class expertise with global industry leadership to accelerate critical technological breakthroughs. Skunk Works has a more than 80-year history of developing groundbreaking aerospace systems and continues to deliver cutting-edge solutions globally for America and allied nations. Skunk Works' visionary focus on innovation aligns with NLR's mission of making aerospace technology more sustainable, safer, more efficient, and more effective.

Proven results driving future innovation

Since the inception of this MOU, the two organizations have successfully navigated complex operational and security environments inherent to confidential high-tech development. By establishing robust joint frameworks, workshops, and specialized working groups, NLR and Skunk Works have bridged distinct organizational cultures. This operational success has unlocked more opportunities, paving the way for a deeper and more ambitious roadmap.

"We believe that modern aerospace development relies on global integration rather than isolation, making cross-border partnerships essential to deliver systems that no single nation can build alone," said Tineke van der Veen, CEO at Royal NLR. "Referring to the Dutch Defence White Paper 2026, NATO is the cornerstone of our defense, with the United States as our most important ally. Together with Skunk Works, we're committed to cooperate to solve the highest priorities of the air force for the challenges ahead of us."

"Lockheed Martin is excited about continued partnership with NLR through expansion of this MOU," said Ron Fehlen, vice president and general manager of Skunk Works. "We have matured specific projects with cutting-edge technologies, such as Thermoplastics, and through our continued collaboration, we will develop new solutions to address pressing aerospace and defense challenges."

In this next phase, we'll focus on four key pillars. These include connectivity to the Dutch industrial base, coordination on military operational analysis, alignment on technology roadmaps, and collaboration on Unmanned Aerial Systems (UAS). We'll position the Dutch defense industrial base within the international supply chain, bridge the gap between mission needs and capability requirements, and work together on enabling technologies.

About Lockheed Martin

Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.

About Royal NLR – Netherlands Aerospace Centre

Royal NLR operates as an objective and independent research centre, making aerospace more sustainable, safer, more efficient and more effective. As part of this, NLR offers innovative solutions and technical expertise, creating a strong competitive position for the commercial sector. More information at www.nlr.org.

SOURCE Lockheed Martin Aeronautics

 | Source: Illinois Tool Works Inc.

GLENVIEW, Ill., Oct. 15, 2026 (GLOBE NEWSWIRE) -- Illinois Tool Works Inc. (NYSE: ITW) will issue its third quarter 2026 results on Tuesday, October 27, 2026, at 7:00 a.m. CDT. Following the release, ITW will hold its third quarter 2026 earnings webcast at 9:00 a.m. CDT.

To access the webcast for the event, please click on the following link:
ITW Q3 2026 Earnings Webcast

If you are a participant on the conference call, please dial 1-833-461-5787 (domestic) or 1-585-542-9983 (international) 10 minutes prior to the 9:00 a.m. CDT start time. The meeting id is 460987187.

Following the webcast, presentation materials and an audio webcast replay will be available at http://investor.itw.com.

About Illinois Tool Works

ITW (NYSE: ITW) is a Fortune 300 global multi-industrial manufacturing leader with revenue of $16 billion in 2025. The company’s seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW’s approximately 43,000 dedicated colleagues around the world thrive in the company’s decentralized and entrepreneurial culture. www.itw.com.

Investor Relations & Communications
Erin Linnihan
Tel: 224.661.7431
[email protected] | [email protected]

Key Takeaways Coinbase shares have dropped 23.5% YTD, lagging the industry's 14.3% gain amid weak trading activity.COIN trades at 72.51X forward earnings versus the industry's 15.05X, signaling a stretched valuation.Coinbase's expansion into stablecoins, tokenized assets and global markets offers growth opportunities.
Shares of Coinbase Global Inc. (COIN - Free Report) have lost 23.5% year to date against the industry’s increase of 14.3%. The sector has risen 3.4% and the Zacks S&P 500 composite has gained  13.9% in the said time frame.

The downfall likely reflects a crypto market slowdown, declining trading volumes and weaker-than-expected earnings. Concerns about continued quarterly losses and falling transaction revenues also resulted in the drop.

Coinbase, a leading player in the crypto space, is well-positioned to gain from expanding its range of listed digital assets and tokenized equities, along with its international growth and strategic acquisitions. The company has been actively pursuing initiatives that support CEO Brian Armstrong’s vision of transforming Coinbase into an “everything exchange,” delivering a comprehensive suite of digital financial services.

COIN vs Industry, Sector, S&P 500 in 3 Months
Image Source: Zacks Investment Research

Shares of crypto-oriented company, Robinhood Markets (HOOD - Free Report) , have lost 10.99%, while those of Interactive Brokers Group, Inc. (IBKR - Free Report) have gained 31% year to date.

Coinbase Shares Are ExpensiveCoinbase is trading at a premium to the Zacks Financial Transaction Service Market. Its 12-month forward price-to-earnings of 72.51X is much higher than the industry average of 15.05X.
 

Image Source: Zacks Investment Research

Its Value Score of F suggests that the stock is not so cheap and indicates a stretched valuation at this moment.

Coinbase’s leading market position, diversification into higher-margin and recurring revenue streams—including USDC and stablecoin-related income, Data Vantage market data, subscriptions, and custody services—combined with improving regulatory clarity in the United States, likely support its premium valuation.

Coinbase is more expensive than Robinhood Markets and Interactive Brokers Group.

Optimistic Analyst Sentiment for COINThe Zacks Consensus Estimate for 2026 is pegged at a loss of 50 cents per share, an improvement from a loss of 62 cents expected 30 days ago. The consensus estimate for 2027 earnings has moved 4.8% north in the past 30 days.

Image Source: Zacks Investment Research

Consensus estimates for Robinhood Markets and Interactive Brokers Group’s 2026 and 2027 EPS have moved north in the past 30 days.

Growth Projections for COINThe Zacks Consensus Estimate for 2026 revenues and EPS indicates a year-over-year decrease. However, the consensus estimate for 2027 revenues and EPS implies a year-over-year increase. Long-term earnings are expected to improve 10%.

The Case for CoinbaseCoinbase is pursuing its vision of becoming an “everything exchange,” offering 24/7 access to digital assets, equities, commodities and derivatives through a unified platform. Recent initiatives include launching regulated derivatives in Canada, expanding its Webull partnership to provide crypto trading and custody services, and partnering with Moov to deliver stablecoin payment and custody infrastructure to community banks and credit unions.

Prediction markets offer another growth avenue, broadening Coinbase’s addressable market and reducing reliance on traditional crypto trading. International expansion remains a priority, with operations across Australia, Brazil, India, Japan, Singapore, the United Kingdom, Switzerland and the European Union, helping diversify its geographic revenue base.

The company is also expanding its product portfolio through additional cryptocurrencies and tokenized assets. Its selection of Chainlink as the oracle infrastructure for tokenized equities could support broader blockchain applications. Meanwhile, its partnership with Better Mortgage introduced a nationwide conforming mortgage product backed by crypto assets. In 2026, management plans to focus on real-world-asset perpetuals, specialized exchanges, advanced trading tools, decentralized finance infrastructure and opportunities in artificial intelligence and robotics.

Coinbase benefits from strong liquidity and relatively modest leverage, providing financial flexibility to pursue growth initiatives. However, its performance remains sensitive to cryptocurrency price fluctuations, elevated operating expenses, impairment charges and restructuring costs during market downturns. Although the company continues to gain market share, weaker industry conditions have constrained earnings growth. In the latest reported quarter, revenues declined as softer retail trading activity reduced transaction income, while lower cryptocurrency prices weighed on platform assets and overall profitability.

What Should Investors’ Stance Be?Coinbase aims to expand the crypto ecosystem, grow its spot trading market share among retail and institutional investors, and strengthen its platform. Higher USDC balances and market capitalization, along with relatively stable crypto prices, could drive more consistent revenues.

 However, its premium valuation, subdued market volatility, weaker digital asset prices, near-term earnings and revenue pressures, and below-average return on equity pose significant risks. Therefore, investors should maintain a cautious stance toward the stock, which carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Marsh & McLennan Companies Inc (NYSE:MMC), the global risk, insurance and consulting firm, rose 7% to $190.41 on Thursday after third-quarter earnings and revenue topped analysts’ forecasts.

The company reported adjusted earnings per share of $2.03 for the three months to September, beating the consensus estimate of $1.96 and marking a 10% increase year-on-year.

Revenue climbed 8% to $6.86 billion, ahead of the $6.63 billion analysts had expected, supported by growth across its risk services and consulting businesses.

The strongest growth came from the risk division, where revenue increased 10% to $3.73 billion, while the wider Risk and Insurance Services business generated $4.2 billion in revenue.

Consulting also contributed to the quarterly performance, with revenue rising 9% to $2.7 billion and operating income increasing 12% to $563 million.

The results showed resilience in the firm’s advisory operations, with underlying revenue growth of 5% across the business after excluding the effects of currency movements and acquisitions.

Adjusted operating income increased 6% in the quarter, compared with a 4% rise in reported operating income, indicating continued growth in underlying profitability.

The earnings beat gives investors evidence that Marsh McLennan can deliver revenue and profit growth across its core businesses, even as conditions in the commercial insurance market remain challenging.