Track market-moving stories before they get noisy

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

The earnings report, which is expected to be released on October 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 casino operator is expected to post quarterly earnings of $1.67 per share in its upcoming report, which represents a year-over-year change of -2.9%.

Revenues are expected to be $1 billion, unchanged compared to the year-ago quarter..

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.16% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

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

Price, Consensus and EPS Surprise

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

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

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

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

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

How Have the Numbers Shaped Up for Boyd?For Boyd, 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 -4.16%.

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

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

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

For the last reported quarter, it was expected that Boyd would post earnings of $1.86 per share when it actually produced earnings of $1.93, delivering a surprise of +3.76%.

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

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

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

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

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

Wall Street expects a year-over-year increase in earnings on higher revenues when Selective Insurance (SIGI - 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 stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 22. On the other hand, if they miss, the stock may move lower.

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

Zacks Consensus EstimateThis insurance holding company is expected to post quarterly earnings of $1.91 per share in its upcoming report, which represents a year-over-year change of +9.1%.

Revenues are expected to be $1.35 billion, up 0.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.92% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

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

Price, Consensus and EPS Surprise

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

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

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

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

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

How Have the Numbers Shaped Up for Selective Insurance?For Selective Insurance, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +3.28%.

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

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

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

For the last reported quarter, it was expected that Selective Insurance would post earnings of $1.72 per share when it actually produced earnings of $1.95, delivering a surprise of +13.37%.

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

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

An Industry Player's Expected ResultsAmong the stocks in the Zacks Insurance - Property and Casualty industry, RLI Corp. (RLI - Free Report) , is soon expected to post earnings of $0.58 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of -30.1%. This quarter's revenue is expected to be $466.64 million, up 3.9% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for RLI Corp. has remained unchanged. Nevertheless, the company now has an Earnings ESP of +10.35%, reflecting a higher Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that RLI Corp. will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

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

Ethena [ENA] fell sharply as bearish pressure persisted following the September Consumer Price Index (CPI) release. The altcoin breached $0.20 support and plunged to $0.182.

In doing so, Ethena erased its October and late September gains. At press time, it traded around $0.184, down 12.3% over the past day. Trading Volume rose 49% over the same period, showing increased activity during the sell-off.

Why did Ethena’s long liquidations surge? As Ethena [ENA] lost $0.20, leveraged bulls took a heavy hit. CoinGlass data showed that ENA’s price volatility exceeded 15% over 24 hours.

The sharp move increased liquidation risk, with over $8.2 million in long positions liquidated.

Source: CoinGlass Forced long closures can amplify selling pressure, leaving remaining leveraged positions vulnerable to further declines. Capital also flowed out of the Futures market. Ethena recorded $301 million in outflows against $263 million in inflows over the past day.

Source: CoinGlass That left Futures Netflow at -$38 million, reflecting net outflows. These flows alone could not establish whether traders predominantly closed longs or shorts.

Are Ethena’s whale sales adding pressure? Beyond derivatives, some large holders also reduced exposure.

Nazoku reported that a whale sold nearly $800,000 worth of ENA before the CPI release.

According to the report, the investor anticipated a lower-than-expected reading and realized roughly $50,000 in profit.

Separately, YZi Labs transferred 1.2 million ENA, worth $252,000, to exchanges, raising the prospect of additional selling.

Source: Arkham The cited report put YZi Labs’ cumulative sales at 135 million ENA. However, the latest exchange deposit alone did not confirm another sale.

Even so, Spot Exchange Netflows offered a possible counterweight to the selling pressure.

Source: CoinGlass Spot Netflow remained negative during the decline, reaching roughly -$2.4 million at press time, compared with -$4 million previously.

More tokens left tracked exchanges than entered them. This could reflect accumulation, although withdrawals alone did not confirm dip-buying.

Net outflows also narrowed, suggesting that the withdrawal trend offered less support than the previous day’s reading.

Can ENA reclaim $0.20? Ethena remained under downside pressure following heavy Long Liquidations and net Futures outflows.

If selling persisted, $0.16 could become the next downside level, with $0.13 representing a deeper bearish scenario. For buyers, reclaiming and holding $0.20 could weaken the immediate bearish case. Until then, Spot withdrawals offered encouragement without confirming a recovery.

Final Summary Ethena fell 12.3%, losing $0.20 support as Long Liquidations exceeded $8.2 million. ENA left exchanges during the sell-off, but withdrawals offered little certainty about who was buying.

Key Takeaways H.B. Fuller prices $850M in 7.625% senior unsecured notes due 2034 to fund its planned AMS acquisition.Proceeds will also repay existing credit borrowings and refinance 4.000% notes maturing in February 2027.H.B. Fuller must redeem $450M of the new notes if the AMS acquisition is not completed by June 25, 2027. H.B. Fuller Company (FUL - Free Report) recently priced an offering of $850 million in senior unsecured notes to help finance its planned acquisition of Advanced Medical Solutions Group plc (AMS), repay existing debt and other borrowings to support flexible operations.

The offering comprises 7.625% senior unsecured notes due 2034, with an issue price of 100% of the principal amount. The notes will pay interest semiannually. The issuance is expected to close on or around Oct. 21, 2026, subject to customary closing conditions.

H.B. Fuller intends to use the net proceeds, along with available cash and borrowings, to fund the purchase price for the AMS acquisition. The company also plans to repay borrowings under its existing credit agreement and fund the repayment or redemption of its 4.000% notes due Feb. 15, 2027.

The debt offering is linked to the completion of the AMS acquisition. H.B. Fuller had previously agreed to a cooperation agreement dated June 25, 2026, under which, if the acquisition is not completed by June 25, 2027, H.B. Fuller will be required to redeem $450 million of the new notes at 100% of the issue price, plus accrued and unpaid interest. The financing is expected to support H.B. Fuller's acquisition strategy while addressing upcoming debt maturities.  A higher interest rate can increase financing expenses, but the impact on leverage and cash flow is yet to be seen.

FUL shares have lost 14.1% in the past year against the industry’s 4.8% growth.

Image Source: Zacks Investment Research

FUL’s Zacks Rank & Key PicksFUL currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Reliance, Inc. (RS - Free Report) , Air Products and Chemicals, Inc. (APD - Free Report) and Axalta Coating Systems Ltd. (AXTA - Free Report) .

RS currently sports a Zacks Rank #1 (Strong Buy), and APD and AXTA carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here

The Zacks Consensus Estimate for RS’ 2026 earnings is pegged at $23.70 per share, indicating a 66.2% year-over-year surge. RSshares have gained 51.2% over the past year.

The Zacks Consensus Estimate for APD’s current fiscal-year earnings is pinned at $13.46 per share, indicating an 11.89% year-over-year rise. APDshares have gained 15.5% over the past year.

The Zacks Consensus Estimate for AXTA’s fiscal 2026 earnings is pegged at $2.63 per share, indicating a year-over-year rise of 5.62%. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, with an average surprise of 6.4%.

SoFi just posted record loan originations, deposits, and member growth, yet the stock cratered nearly 46% this year while the broader market surged. One Wall Street analyst sees a setup that could double the shares, but the path there runs…

SoFi Technologies (NASDAQ:SOFI | SOFI Price Prediction) currently trades at $14.22. Wall Street’s average price target is $20.36, which works out to 43.18% upside.

SoFi is a digital bank built on three segments. Lending is the engine, Financial Services covers SoFi Money, SoFi Invest and credit cards, and the Technology Platform is anchored by Galileo. The business keeps setting records, and that is exactly why the stock’s drop stands out.

The most bullish call goes much further than the average. Citi’s Peter Christiansen rates SoFi a Buy with a Street-high $30.00 target, which means 110.97% upside. That is a double from here, and on a typical 12-month horizon it lands in 2027.

Profits Fell Behind Revenue and Investors Bailed Earnings failed to keep pace with revenue, and the market punished it. StoneX analyst Mark Palmer said the shares “lagged because its earnings didn’t keep up with its revenue growth in the first half of 2026, although heavy marketing investment was a significant factor.” The stock is down 45.68% year to date. A drop that size marks a sharp rerating.

Second-quarter results pointed in two directions. Revenue of $1.22 billion beat estimates by 8.24%, and management raised full-year adjusted net revenue guidance to $4.75 to $4.85 billion. Adjusted EPS guidance stayed at about 60 cents, though. Management chose to reinvest, and it now assumes a 22% tax rate, roughly 700 basis points above its original plan. Technology Platform revenue also fell 23% after a large client left.

The selling has picked up recently. Shares lost 19.43% over the past month, including 6.69% in the latest session. Other fintech names fell that day too, so sector pressure is adding to doubts specific to SoFi.

Bulls Argue Wall Street Is Pricing Records as Retreats Palmer opened coverage at Buy with a $25 target. He said that SoFi “added more members, more deposits, more products and more profit than in any prior quarter, but the market has marked the stock down as if all four were in retreat.”

The operating data supports him. Loan originations hit a record $14.80 billion, up 69%. Deposits rose to $45.5 billion, net interest margin reached 5.98%, and personal loan charge-offs improved to 2.62% from 2.83%. Existing members opened 51% of new products.

Citi’s case rests on three pillars: cross-selling that grows products faster than acquisition costs, scale in the Galileo platform, and steady margins backed by fee diversification. The platform pillar is the weakest given that 23% decline. For a timeline, bulls point to management’s medium-term targets of at least 30% annual revenue growth and a 38%-42% adjusted EPS CAGR through 2028. CEO Anthony Noto called those returns “just a matter of when, not if.”

Coverage is still split:

Strong Buy: 4 Buy: 5 Hold: 12 Sell: 2 Strong Sell: 2 Upstart Shares SoFi’s Pain While Affirm Holds Firm Several stocks in the group sold off with SoFi, but one big name held up. Upstart Holdings (NASDAQ:UPST) is down 48% year to date at $22.74, against a $39.31 target that means 72.87% upside. Its ratings break down into 2 Strong Buys, 6 Buys, 7 Holds and 1 Strong Sell.

Affirm Holdings (NASDAQ:AFRM) has fallen only 5.27% this year. At $70.51, its $98.28 target means 39.38% upside. Analysts are firmly bullish on Affirm, with 27 combined Buy and Strong Buy ratings and zero Sells.

Upstart offers the largest potential gain among these stocks. SoFi sits in the middle, with larger losses than Affirm and weaker analyst conviction. Price targets are estimates for every stock in the group, and none of them is guaranteed.

SoFi Badly Trails a Rising Market At $14.22, SoFi trades well below the $20.36 consensus from 25 analysts, which points to 43.18% upside. Shares are down 45.68% year to date, while the S&P 500 is up 12.86%. Over one year, SoFi has lost 48.98% as the index gained 16.21%.

The stock trades at about 21 times forward earnings. With a beta of 2.332, it tends to move more than twice as hard as the market in either direction.

Execution Risk Is the Price of a Potential Double The bull case strengthens if heavy marketing spend starts turning into earnings growth that keeps pace with revenue, and if credit holds up while originations keep growing. The case weakens if the Technology Platform keeps shrinking, charge-offs rise as the loan book expands, or management keeps delaying profits for more reinvestment.

The bull path is simple: profit catches up with revenue, SoFi Plus and fee income keep growing, and the market rewards those results. The bear risk is that SoFi is a high-beta lender carrying a consumer credit cycle that analysts may be underweighting.

A business posting record originations and member growth while trading at about 21 times forward earnings leaves room for a rerating if profits catch up. Citi’s $30 call needs everything to go right. The $20.36 consensus looks like the more realistic test for 2027.

Contact [email protected] for any questions or corrections.

Tokenized exchange-traded funds (ETFs) and indices have seen remarkable growth in 2026, with the sector’s market value more than tripling since the start of the year. Data from the blockchain analytics platform Token Terminal shows that the combined market capitalization of tokenized ETFs and indices rose from $219.2 million on January 1 to $686.5 million, an increase of 213% year to date.

Surge in Holder NumbersThe number of wallets holding tokenized ETFs has grown at an even faster pace. Since the beginning of 2026, the total has climbed from approximately 17,500 wallets to 897,700, increasing more than 51-fold. By comparison, the holder base for individual tokenized stocks grew by 26.6 times across the same span. This trend highlights that tokenized ETFs are now attracting holders at more than twice the rate seen for single stock tokens.

Much of this growth accelerated over the past two months. Holder counts saw steady increases through the first seven months of 2026, followed by a sharp rise in late August after Binance introduced its bStocks tokenized products, which significantly changed activity patterns in the sector.

Holder and Capital DistributionAnalysis of user demographics and funding shows a bifurcation in the market. Binance, one of the world’s largest cryptocurrency exchanges, leads in holder numbers with its bStocks platform, reaching 448,400 holders and accounting for half of all tokenized ETF users tracked by Token Terminal. However, Binance’s share of the market capitalization stands at $160.1 million or 23.3%, signaling that individual holders, primarily retail, tend to invest smaller amounts.

Robinhood’s tokenized ETF platform demonstrates a similar trend, with 13.1% of holders making up just 5.4% of overall sector market cap. These statistics suggest growing adoption by retail investors through familiar trading apps.

In contrast, Ondo Finance, a decentralized finance platform, holds a smaller share of wallet count at 20.3% but commands the largest portion of market capitalization, with $325.7 million or 47.4% of the total. This distribution points to fewer, likely institutional participants with much larger individual stakes.

Mini dictionary: Ondo Finance is a decentralized finance (DeFi) platform that enables users to access tokenized securities and investment products, often bridging traditional and blockchain finance.

PlatformHolder Share (%)Market Cap Share (%)Market Cap ($M)Binance bStocks50.023.3160.1Robinhood13.15.4N/AOndo Finance20.347.4325.7Top Tokenized ETF ProductsBinance’s product based on the Nasdaq-100, QQQb, has emerged as the largest tokenized ETF by market cap and user count. QQQb now holds $67.6 million in capitalization and serves 314,500 holders, representing roughly 35% of all tokenized ETF holders. The SPYx tokenized S&P 500 tracker follows at $62.2 million, with Ondo’s IVVon, another S&P 500-linked token, trailing closely at $61.5 million.

Broad U.S. index trackers now dominate tokenized ETF demand; S&P 500 and Nasdaq-100-linked products in the top 10 capture nearly $330 million, about half of the sector’s overall value.

Many of these products track identical underlying indices but are launched by different issuers across multiple blockchains. This has led to demand being distributed among similar or near-identical tokens depending on the network and provider.

Ethereum Leads Among BlockchainsEthereum remains the leading blockchain for tokenized ETFs, hosting $303 million in value and representing 44.1% of the market. BNB Chain, often used for Binance’s products, ranks second with $192.1 million and 28% of sector share. Solana’s share stands at 13.3%, while Arbitrum One, Robinhood Chain, and X Layer each account for less than 5%.

The increase in holder numbers since August has outpaced the growth in capital, highlighting a clear divide between platforms like Binance, which draw numerous users making smaller investments, and Ondo, which aggregates larger capital often from institutional sources.

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

Shares of this civil construction company have returned -6.1% over the past month versus the Zacks S&P 500 composite's +2.1% change. The Zacks Engineering - R and D Services industry, to which Sterling Infrastructure belongs, has lost 2.3% over this period. Now the key question is: Where could the stock be headed in the near term?

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

Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Sterling Infrastructure is expected to post earnings of $6.07 per share for the current quarter, representing a year-over-year change of +74.4%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.

The consensus earnings estimate of $20.02 for the current fiscal year indicates a year-over-year change of +84%. This estimate has remained unchanged over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $25.8 indicates a change of +28.9% from what Sterling Infrastructure is expected to report a year ago. Over the past month, the estimate has remained unchanged.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Sterling Infrastructure is rated Zacks Rank #2 (Buy).

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

12 Month EPS

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

For Sterling Infrastructure, the consensus sales estimate for the current quarter of $1.17 billion indicates a year-over-year change of +69.6%. For the current and next fiscal years, $4.13 billion and $4.93 billion estimates indicate +65.7% and +19.5% changes, respectively.

Last Reported Results and Surprise HistorySterling Infrastructure reported revenues of $1.17 billion in the last reported quarter, representing a year-over-year change of +90.1%. EPS of $5.8 for the same period compares with $2.69 a year ago.

Compared to the Zacks Consensus Estimate of $1.07 billion, the reported revenues represent a surprise of +9.24%. The EPS surprise was +11.54%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.

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

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

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

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

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Sterling Infrastructure. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.

Wall Street analysts forecast that Hancock Whitney (HWC - Free Report) will report quarterly earnings of $1.65 per share in its upcoming release, pointing to a year-over-year increase of 10.7%. It is anticipated that revenues will amount to $418.85 million, exhibiting an increase of 8.6% compared to the year-ago quarter.

The consensus EPS estimate for the quarter has undergone a downward revision of 0.6% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

Given this perspective, it's time to examine the average forecasts of specific Hancock Whitney metrics that are routinely monitored and predicted by Wall Street analysts.

Analysts forecast 'Net interest margin (TE)' to reach 3.6%. The estimate compares to the year-ago value of 3.5%.

According to the collective judgment of analysts, 'Efficiency Ratio' should come in at 56.2%. The estimate compares to the year-ago value of 54.1%.

The collective assessment of analysts points to an estimated 'Average Balance - Total interest earning assets' of $34.61 billion. Compared to the current estimate, the company reported $32.21 billion in the same quarter of the previous year.

Analysts' assessment points toward 'Total nonperforming loans' reaching $113.74 million. The estimate compares to the year-ago value of $113.55 million.

Based on the collective assessment of analysts, 'Total nonperforming assets (Total nonaccrual loans + ORE and foreclosed assets)' should arrive at $126.45 million. The estimate is in contrast to the year-ago figure of $124.69 million.

It is projected by analysts that the 'Total Noninterest Income' will reach $110.13 million. The estimate is in contrast to the year-ago figure of $106.00 million.

The consensus among analysts is that 'Net interest income (TE)' will reach $310.11 million. The estimate is in contrast to the year-ago figure of $282.31 million.

The consensus estimate for 'Net Interest Income' stands at $308.86 million. The estimate is in contrast to the year-ago figure of $279.74 million.

Analysts expect 'Secondary mortgage market operations' to come in at $3.78 million. Compared to the current estimate, the company reported $3.48 million in the same quarter of the previous year.

The average prediction of analysts places 'Bank card and ATM fees' at $23.36 million. Compared to the current estimate, the company reported $21.81 million in the same quarter of the previous year.

Analysts predict that the 'Investment and annuity fees and insurance commissions' will reach $15.33 million. The estimate is in contrast to the year-ago figure of $14.51 million.

The combined assessment of analysts suggests that 'Other income' will likely reach $15.41 million. Compared to the current estimate, the company reported $16.77 million in the same quarter of the previous year.

View all Key Company Metrics for Hancock Whitney here>>>

Shares of Hancock Whitney have demonstrated returns of -3.6% over the past month compared to the Zacks S&P 500 composite's +1.4% change. With a Zacks Rank #2 (Buy), HWC is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Hyperliquid founder Jeff Yan outlined a regulatory approach that would shield his fast-growing cryptocurrency trading platform from direct US exchange oversight, as American authorities consider how to bring offshore venues into the domestic financial system.

In an interview with Bloomberg’s Odd Lots podcast, Yan argued that regulatory obligations should fall on financial firms operating markets on Hyperliquid’s blockchain rather than the network itself. The distinction would allow the company to expand its reach into Wall Street without assuming the full compliance burden of a traditional exchange.

Traders and market watchers around the world started talking about a crypto platform called Hyperliquid earlier this year, when speculators used markets built on top of it to trade crude oil after war broke out in Iran. What Hyperliquid allowed for was a 24/7 market on the blockchain. Then in August, President Trump said the CFTC was working on bringing “Hyperliquid into the United States in a fully compliant and legal fashion.” Hyperliquid currently operates outside the US, but that hasn’t stopped it from growing prodigiously in the last year. Jeff Yan, CEO and co-founder of Hyperliquid Labs, joins us today to explain how exactly the platform — works: He walks us through the protocol he and his co-founders built, the ecology of actors and assets that are tied to Hyperliquid (like the platform’s cryptocurrency HYPE), how perps are bought and sold on the platform, he explains what a blockchain oracle is, and he discusses what has to happen for Hyperliquid to start operating in the US.
Hyperliquid is best known for offering perpetual futures, which allow traders to make leveraged bets on cryptocurrencies and other assets without the expiry dates of conventional futures. Yan, 31, is the co-founder of Singapore-based Hyperliquid Labs, which is the main developer of the trading venue’s underlying blockchain. Hyperliquid remains off-limits to US customers, although Kraken parent Payward has announced plans to offer American investors derivatives using its technology through a regulated exchange.

Read: The Little-Known Crypto Powerhouse Behind Billions in Trading

Yan compared the proposed division of regulatory responsibilities to internet infrastructure, which supports financial services without itself being subject to the same oversight. His broader ambition is to provide the underlying trading technology for established Wall Street institutions rather than displace them, drawing a parallel with Amazon Web Services and its role in corporate computing.

Jeff Yan, chief executive officer of Hyperliquid Labs, during the Token2049 conference in Singapore, on Wednesday, Oct. 7, 2026. — Photographer: Ore Huiying/Bloomberg
“The regulation sits at the layer where there are controls, and indeed the deployers are the ones that exercise these controls,” Yan said. “And so it’s a very natural way for the protocol to continue playing its role as a networking liquidity infrastructure layer.”

Hyperliquid, once a little-known startup, is gaining mainstream popularity especially after President Donald Trump said in August that US regulators are working to bring the exchange into the country. Yan noted that while US regulators are conservative, they are willing to move fast with new technologies.

Regulators “want to embrace innovation, but there’s a very heavy responsibility with that because there’s an existing system that by and large works well, serves many people, and has protections built in place,” said Yan. “So I think there’s very naturally this gap of wanting to understand, ‘is this technology truly compatible with our core principles?’”

The question of how to regulate Hyperliquid has also drawn scrutiny from established exchange operators, including CME Group Inc. and Intercontinental Exchange Inc., Bloomberg has previously reported. In the Odd Lots interview, Yan pushed back on calling traditional finance players as “legacy,” as he believes that Wall Street institutions will also want to come and build on Hyperliquid eventually.

Read: The $500 Billion Experiment to Build 24/7 Markets on Blockchain

“We’re not trying to displace anything,” Yan said. “In fact, I think the technology can benefit everyone who currently operates markets in a more traditional setting. And whether these markets are perpetual markets or settled dated futures is irrelevant because ultimately what you really need is an order book, clearing system and global distribution, concentration of liquidity.”

On Hyperliquid’s ambition to be the“house of all finance,” Yan said his team is “very serious” about it.

“Ultimately, the thinking is that the financial system is there to better serve as many people on this planet as possible,” said Yan. “I think many layers are moved, but this sort of permissionless employment system ultimately is accomplishing that goal.”

Before he moved to Singapore to start Hyperliquid Labs, Yan lived in Puerto Rico and ran a crypto fund called Chameleon Trading. Yan also worked at Hudson River Trading after he graduated from Harvard University.

A Hyperliquid perpetual linked to Anthropic’s implied value traded after the company’s investor briefing this week, with a reported $1.95 trillion mark and almost $21 million of turnover in the previous 24 hours. The contract is a wager settled between traders. It grants no Anthropic stock, no claim on company earnings and no ability to redeem for a share. Its most important unresolved question is how a market sets a reference price for a company whose shares do not trade publicly.

Summary

MarketWatch reported an Anthropic linked Hyperliquid contract near $1.95 trillion on October 15.
Its reported 24 hour trading turnover was almost $21 million at that snapshot.
The io:ANTH market is a builder deployed perpetual operated by Entropy, not an Anthropic share.
HIP 3 puts oracle selection and market parameters in the hands of the deployer.
A $1 move in io:ANTH’s quoted price represents $1 billion of implied company value.

MarketWatch’s October 15 observation said the indicative contract fell 4%. The name of a private company on a trading screen can make the instrument look like a share. In Entropy’s io:ANTH market it is a cash settled derivative built under Hyperliquid’s HIP 3 framework. Anthropic neither issued it nor received proceeds when one trader bought from another.

Prior coverage of Hyperliquid’s pre IPO markets explained the rise of synthetic company exposure. Today’s hook is sharper because Anthropic has been discussing its financials with prospective investors while the derivative generates a price minute by minute. The way that price is produced deserves more attention than whether its last tick was green or red.

A market cap quote is not a share price
The io:ANTH instrument is quoted in units of implied billions of dollars of Anthropic value, according to FalconX’s examination of its contract design. A displayed price around 1,950 corresponds to an indicative $1.95 trillion company valuation. A move from 1,950 to 1,900 is a 50 point fall, or $50 billion in the convention used by this market. It does not mean $50 billion left Anthropic or that investors sold $50 billion of its shares.

MarketWatch’s nearly $21 million is gross notional trading turnover in a day, not the amount of equity exchanged. Dividing $1.95 trillion by $21 million gives roughly 92,900. The ratio is a deliberately simple scale comparison, not a liquidity metric: the valuation mark is roughly 93,000 times the reported daily derivative turnover. It shows why a small market can display a very large implied company value without buying anything close to that value in underlying shares.

The market does not know an authoritative public share count and a continuously traded share price from which to calculate an ordinary equity market capitalization. Its quotation convention bypasses that problem by expressing the view as a valuation number directly. Another venue could quote an expected share price using its own assumed capitalization and share count. The two numbers are not directly comparable until those assumptions are reconciled.

An Anthropic employee or early investor holding actual shares would have a different legal position. Private share transfers can require approval and may be subject to restrictions. A perp trader has an exchange position with collateral, funding and liquidation terms. It can move in the same direction as an eventual IPO price, but it is not a substitute for a shareholder vote, distributions or a legally enforceable claim on Anthropic’s assets.

Entropy defines the market that appears on Hyperliquid
Hyperliquid’s HIP 3 documentation says an independent deployer sets a market’s definition, oracle and specifications and operates its oracle prices, leverage limits and settlement. The base platform supplies an order book and margin infrastructure. For io:ANTH, Entropy is the deployer. Calling it simply a Hyperliquid listing can hide the company that chooses the key contract terms.

The documentation says a deployer must maintain 500,000 HYPE staked and can be slashed through validator voting for certain irregular actions affecting protocol operation. That mechanism is relevant to malicious or disruptive deployer behavior; it is not a guarantee that the Anthropic valuation is accurate. Hyperliquid’s own guidance cautions that an oracle is most suitable when there is a well defined external price hard to manipulate. A private company’s value is precisely the case where external observations are sparse.

Entropy’s interface terms describe perpetual futures as synthetic and warn that oracle feeds can be stale or manipulated, that funding changes, and that a leveraged position can lose its collateral through liquidation. The terms do not promise best execution. Such provisions should be read as actual product conditions, not dismissed as generic crypto boilerplate when the underlying company has no public stock price.

The operator can run a market before an IPO because buyers and sellers can take opposing positions in a collateralized contract. No Anthropic employee needs to sell a share into the venue. The system only has to keep those positions margined and define how gains, losses and a possible final settlement are calculated. The hard part is choosing a credible price path when no public underlying trade resolves the disagreement.

BREAKING: Anthropic picks Nasdaq for IPO at a potential $2T valuation

The move would put Anthropic above SpaceX’s reported $1.75T valuation, as the AI company heads toward a major public debut amid renewed debate over AI safety and extinction risks. pic.twitter.com/Oio2oho0Yh

— crypto.news (@cryptodotnews) September 13, 2026

The oracle has to use the market it helps govern
The FalconX analysis describes Entropy’s pre IPO oracle as a blend of external private market information and the contract’s own order book. The weight given to the local market depends on executable two sided depth near the midprice, while an external component remains. Private transactions and funding round marks can be intermittent, and their economic rights may differ from those of ordinary common shares.

This creates a feedback problem. A deep order book can be a useful price discovery venue, but if the oracle starts to rely more on that book, its own participants have a greater role in the reference used for funding and margin. Liquidity around the midprice must be executable, not just displayed orders that vanish before a trade. The deployer’s methodology, parameter updates and market data matter more than a one day percentage move.

The Hyperliquid developer rules describe oracle submissions and the mark calculation, including order book inputs and limits on update frequency and abrupt mark changes. The platform’s ordinary BTC spot oracle, described elsewhere in its docs, is not automatically the oracle for an independently deployed private company perp. Confusing those designs would give io:ANTH a false aura of external exchange price verification.

If a thin book pushes the displayed trade far from a private market reference, funding payments and risk rules can pull positions toward the contract’s mark over time. They cannot prove the mark equals what a buyer would pay for actual private shares. A prospective IPO may eventually supply a public trading reference, but there can be important differences between the contract’s settlement formula and the first listed share price.

Anthropic’s briefing supplies news, not a settlement price
Reuters reported on the investor presentation, citing people who attended. The report said Anthropic disclosed third quarter revenue growth of 45% from the preceding quarter. Prospective investors can use such figures in negotiations, and perp traders can react to the report. A presentation does not produce a continuous stock price or an obligation for Anthropic to honor the perpetual market’s valuation.

Different interpretations of the financials can justify very different implied company values. Revenue is not profit; quarterly growth does not automatically continue for years; capital spending, competition and share terms matter. A private round may give investors preferences that ordinary shares or a synthetic perp do not have. A headline valuation can be a negotiation outcome for a particular security class, not a universally executable price for all company ownership.

Markets can sometimes anticipate a public valuation. Traders who follow the company closely may aggregate information faster than a static funding round mark. FalconX argues that pre IPO derivatives can contribute to price discovery around a listing. The opposing case is serious: a liquid, competitive book can be more current than a months old private transaction. Its strength depends on depth, independent participants and how closely the eventual settlement mechanism is tied to a real public market.

The October 15 turnover is evidence of trading interest, not proof of pricing accuracy. A market can trade frequently at a price that later looks wrong. Some participants may be hedging exposure elsewhere, some expressing a directional view, and others trading funding or volatility. Public notional turnover does not reveal their identities or whether a single position is being repeatedly opened and closed.

Earlier Anthropic markets make the distinction important
Crypto.news’s report on the Ventuals team’s move noted that a previous Hyperliquid based Anthropic and OpenAI market experiment had been shut down. The current io:ANTH contract is operated by Entropy under its own specifications. The existence of one market in the past does not preserve its quotes, open interest or settlement terms in a later deployer’s product.

The HIP 3 product explainer explains that outside teams can create perps. Such openness expands the range of tradable exposures, but means a user must identify which team deployed the particular market. Different Anthropic contracts on different platforms may use a different unit, oracle, leverage cap or resolution rule while sharing a company name.

An investor buying a tokenized private share through a regulated special purpose structure would have yet another claim: potentially a contractual interest in an entity holding shares, with custody and transfer restrictions. That is not what io:ANTH represents. The phrase tokenized Anthropic can blur equity backed exposure and a cash settled forecast. Product documents, not the ticker, determine what the holder owns.

If Anthropic does list, a perp may transition toward a listed market reference or settle under its rules. The timing, share class, first trading session and final reference could all matter. No October 15 MarketWatch price is a promise that future public investors will pay the same valuation. The operator’s current specifications and any later notices should be checked before claiming a one to one conversion.

Leverage turns a small valuation move into a large account move
A trader posts collateral for exposure larger than the cash committed. If a position has three times exposure, a 5% adverse move in its reference price corresponds to about 15% of initial collateral before funding, fees and maintenance margin. Liquidation can arrive before an eventual recovery or a future IPO clarifies the company’s value. That example uses simple arithmetic, not the live terms of a particular user’s position.

Funding payments can accumulate even if the indicative company value does not change. Long and short traders exchange payments under a formula designed to keep a perpetual market aligned with its reference. A thin or uncertain external anchor can alter that relationship. The trade is therefore about the path of the market, not only the final belief about Anthropic’s eventual public valuation.

A sharp news event can strain a book with relatively modest executable depth. A stop or liquidation is governed by the mark and margin system, and the price at which a trader can exit depends on actual bids and offers. Turnover of $21 million over a day says nothing precise about the amount available within 1% of the current price for a large order. Order book depth and slippage should accompany any claim that the market is a reliable valuation signal.

Earlier reporting on a SK Hynix perp dislocation illustrates how a synthetic company market can produce contentious marks and liquidations. It concerns a different asset and operator. It is relevant as a mechanical warning, not evidence that the same error occurred in io:ANTH today. No incident is showed by the October 15 decline alone.

What the price can and cannot tell an IPO investor
The $1.95 trillion mark reports a marginal price within Entropy’s Anthropic contract at a particular time. It is an observable expression of the traders participating there. It cannot show Anthropic’s issued share count, its enterprise value after debt and cash, the terms of a future offering or the price at which actual shareholders can sell. A valuation may be a useful signal without becoming an independent appraisal.

A better comparison would put dated private funding or tender terms, any IPO filing and the perp’s implied value side by side, adjusting for share rights and timing. If the gap persists after a public share begins trading under a reliable oracle, the contract’s basis and funding will explain whether convergence occurred. Until then, a large nominal mark attached to relatively small turnover should be described as this market’s indication, not the company’s settled worth.

The named operator matters in any dispute. Hyperliquid provides settlement infrastructure, Entropy sets the market specific inputs, and traders supply bids, asks and collateral. Anthropic is the subject of the wager but is not a counterparty. A holder seeking a correction to an oracle or clarification of settlement would need the deployer’s published process, not Anthropic investor relations.

The $21 million turnover does not fund the company
Consider two traders exchanging a contract with $10,000 of notional exposure. The same position can be bought and sold repeatedly, adding to volume on every execution, without a share moving or Anthropic receiving any cash. Gross 24 hour notional is therefore a measure of trading activity, not capital invested in the underlying company. Open interest counts positions that remain outstanding; executable order book depth indicates what can trade near the mark now. Each metric answers a different question.

The implied market value is especially easy to misread because Entropy’s quote compresses billions of dollars into a single index point. A 1% move near $1.95 trillion corresponds to roughly $19.5 billion in the quotation convention. If only millions of dollars of derivative notional changed hands, the market has repriced a reference, not transferred $19.5 billion between buyers and sellers. Traders’ actual gains and losses depend on their exposure size, entry price, funding and fees.

Nor is the mark an offer to acquire Anthropic in full. A negotiated acquisition would involve control, liabilities, approvals and shareholders with distinct rights. A funding round prices a specific security with its own preferences. The perp expresses the marginal balance of buyers and sellers in one synthetic instrument. Comparing those values may be interesting, but treating them as interchangeable prices erases the terms each one measures.

A reader seeing two different Anthropic valuations in the same week should ask whether they refer to a private funding round, an IPO target, a derivative market cap unit or an enterprise value calculation. A headline number can be correct within its convention while being wrong as a statement that the company has been sold. Precise attribution protects the distinction.

An oracle dispute would reach the deployer first
Crypto.news coverage of HIP 3 access controls describes how deployers can set additional conditions for their markets. The HIP 3 rules put the price input and market operation with Entropy. Hyperliquid validators apply protocol rules and can vote on slashing for irregular behavior affecting the system, but its documentation says the system should not intervene in every subjective disagreement about an oracle. A trader convinced that a private valuation input is too high does not automatically have a protocol level remedy. The trader may simply take the other side in the market, subject to margin and liquidity.

The external component of Entropy’s blend is hard for outsiders to reproduce if it draws on private deal indications and market making quotes. The local order book is more visible, yet displayed depth can change quickly. An audit of a sharp mark move would need the dated input prices, the depth calculation, parameter settings and the deployer’s signed oracle updates. Public onchain actions can show what the deployer submitted; they cannot by themselves prove the undisclosed private market data were representative.

One concern is circularity: a derivative mark influences funding and liquidation, while the same derivative book partly informs that mark. The stronger counterargument is that a live book with meaningful two sided depth can contain fresher information than a stale private funding round. Entropy’s weighting design aims to let the market speak more when that depth exists. Whether it succeeds is observable around independent news and, eventually, a public listing reference.

A change to the upper or lower valuation bounds could matter even when no company news occurs. FalconX described operator discretion over some parameters and a scheduled resolution if the company remains private. A holder should verify the current contract specification, not assume a screenshot from August still governs an October position. Any material change should be dated against open interest and communicated before readers are asked to treat a price series as continuous.

A public listing might not settle every disagreement
A conventional share price becomes observable when Anthropic lists, but a derivative tied to market capitalization still needs a share count and rules for which shares and session count. IPO shares could trade differently from restricted pre IPO holdings. A first day print may be volatile or thin compared with a later closing average. The contract’s documentation, not a generic definition of an IPO, determines whether it transitions to a public oracle, closes positions or continues with adjusted terms.

If Anthropic delays a listing, the synthetic market may remain active while external evidence stays sparse. FalconX described a scheduled end and cash settlement path for Entropy’s pre IPO contracts. A long horizon exposes traders to funding and operator decisions before any company event. The final formula could rely on a trailing average of the contract’s own mark, which would be a settlement to the market’s internal history rather than to a verified sale of shares.

This explains why a hedge with io:ANTH is imperfect for an actual private shareholder. The shareholder’s economic interest can change with the terms of its shares, dilution, transfer restrictions and an eventual public conversion. The perp’s reference can diverge, and its collateral can be liquidated before that shareholder can sell. A trader can still use it to express a view on value, but the basis risk remains even if the headline valuation looks similar.

The decisive evidence arrives when a public filing details share count, financials and offer terms, then when shares trade with enough depth to anchor a reference. Until that sequence, the market supplies a price for its contract. It does not supply a title deed for a piece of Anthropic.

Today’s valuation has more than one denominator
Reuters’s report on Anthropic’s investor briefing gives a financial event that actual IPO buyers may weigh. A derivative market can react to it immediately while investors in a future offering negotiate access, allocation and share terms. The same revenue headline might raise expectations of growth and concern about spending on computing at once. Without detailed costs and the final capital structure, a price to revenue multiple inferred from the $1.95 trillion mark is at best an illustration.

The accounting unit also matters. Entropy quotes a company value convention directly, while a conventional stock market price multiplies a share price by a disclosed diluted share count. A new issue in an IPO increases the number of shares and brings cash into the company. Employee options and other convertibles can add dilution. A pre IPO synthetic mark can be close to a quoted IPO target yet differ materially from a properly diluted public equity value when the documents arrive.

A public filing may reveal classes with different voting or economic rights, commitments to investors or a reserve of shares for employees. Private holders can face lockups after a listing. A perp trader’s position has none of those rights or restrictions in the same form; it has its own collateral and funding rules. Explaining those differences is not a claim that the market is useless. It locates what the market is pricing and what a reader cannot infer from it.

The reported four percent fall on October 15 is not a standalone referendum on the briefing. It coincides with public reporting and wider market conditions, while the derivative’s own funding and order flow can move its mark. A causal claim would need a time series comparing the news release, quotes across venues and changes in depth. The MarketWatch snapshot alone provides the price change and turnover, not who sold or why.

Distinguishing risk from a bad prediction
A trader could accurately anticipate Anthropic’s eventual IPO valuation and still lose money on a leveraged pre IPO perp. A temporary drawdown can liquidate the account. Funding can drain collateral while the prediction takes months to play out. A contract may resolve under a trailing average before the desired company event or change parameters under its published governance. Accuracy about the company is therefore insufficient; the timing and contract path matter.

The reverse is possible. A trader might profit from buying an underpriced contract and selling it weeks later even if Anthropic ultimately lists below the earlier mark. The profit would be a transfer from another derivative participant, not evidence that the initial price correctly described the private company’s long term worth. A functioning speculative market can have valuable price discovery and still produce many wrong interim prices.

FalconX’s research presents the positive case that liquid pre IPO trading can precede and help anticipate a public market. Its historical examples are informative, but Anthropic has a different investor base, growth profile and disclosure schedule. A market that predicts one listing does not have a guarantee on the next. A comparison after Anthropic’s actual listing would have to date each derivative quote and account for differences in contract units and share terms.

The contract’s operator and exchange infrastructure can publish enough information for that comparison. Dated oracle inputs, funding history, executable depth, open interest and any contract updates would allow outsiders to assess how the indicated valuation was formed. Without those records, the $1.95 trillion figure risks being repeated as a company fact when it is a venue specific market mark.

What to watch

Entropy specifications: Any change to io:ANTH’s oracle, leverage, valuation unit, funding or resolution terms.
Executable depth: Bid and ask amounts near the mark, alongside volume and open interest at a dated snapshot.
External evidence: Anthropic’s actual offering documents or verified private share transactions with comparable rights.
Oracle behavior: The gap between local book, published oracle and mark during major news or low liquidity.
Listing event: Whether a public share price becomes available and how the contract’s stated settlement process uses it.

FAQ

Can I buy Anthropic stock through the io:ANTH perp?
No. The Entropy contract is a synthetic perpetual on implied valuation. It conveys no Anthropic share or ownership rights.

What did the $1.95 trillion number mean?
It was MarketWatch’s October 15 snapshot of the valuation implied by the Hyperliquid linked market, not a completed sale of Anthropic at that price.

Did Anthropic receive the $21 million traded?
No. The reported amount was 24 hour notional turnover in a derivative market. It was not a company capital raise.

Who operates io:ANTH?
Entropy operates the market as a HIP 3 deployer using Hyperliquid’s trading infrastructure. The deployer sets market specific oracle and risk parameters.

How is a price possible without public shares?
Traders bid and offer a synthetic contract, while its operator defines a reference using market and external inputs. No public stock sale is needed for the derivative to trade.

Is the quote a per share price?
No. A point in io:ANTH’s price corresponds to $1 billion of implied company value under the contract’s convention.

Can a trader be liquidated before an IPO?
Yes. A leveraged perpetual position is margined continuously and can be closed under exchange risk rules after an adverse mark move, regardless of a later listing.

Is this a verified valuation of Anthropic?
No. It is a price in a particular synthetic market whose liquidity and oracle design should be evaluated. This is educational analysis, not investment advice.

Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Figures reflect regulatory filings and reporting available at the time of writing and change with each disclosure. Nothing here is a recommendation to buy, sell, or hold any security or asset. Always do your own research. Information is accurate as of October 15, 2026.

Euro to Dollar Forecast: US Yields Hold Key to Analyst's Recovery View The Euro could recover against the US Dollar if Treasury yields retreat, UniCredit says, but French fiscal concerns are likely to constrain the rebound. A retreat in US Treasury yields could give the Euro breathing room after its recent sell-off, according to UniCredit, although the bank doubts that lower American borrowing costs alone would restore EUR/USD to 1.14.

EUR/USD traded near 1.1212 on Thursday afternoon, about 0.15% above Wednesday's close.

Latest-Exchange Rates:

Euro to Dollar (EUR/USD): 1.121453 (+0.17%)

Pound to Dollar (GBP/USD): 1.326362 (+0.24%)

Dollar to Yen (USD/JPY): 157.99011 (+0.02%)

The recovery follows a sharp reversal in bond markets after US consumer inflation initially sent Treasury yields higher, before an equity sell-off encouraged investors to buy government debt.

UniCredit's FX strategist Roberto Mialich sees scope for that yield relief to support the currency, but France's public-finance difficulties have weakened the case for a fuller recovery.

His assessment offers a counterpoint to MUFG's conditional warning about a break below 1.10, which linked further Dollar strength to higher US short-term yields.

US yields have set the direction UniCredit argues that the rise in American yields has mattered more for the Euro's recent direction than changes in the gap between US and German borrowing costs.

Mialich writes: "Hence, we can argue that the rise in the 10Y UST yield has determined the direction and the decline of EUR-USD, while the yield spread between the 10Y Bund and the UST has influenced the speed of the decline."

Mialich adds: "Despite the sharp rise in the 10 UST yield, EUR-USD has only lost around 5%, as the corresponding rise in the 10Y Bund yield has prevented a more intense fall of the common currency"

Higher German returns have helped offset the appeal of US bonds.

Mialich writes: "In addition to the clear relationship visible in the chart, the results of our calculation are quite comforting: correlation is over -0.60, suggesting that a rise in the 10Y UST yield tends to be sufficiently EUR-USD negative and vice versa."

Mialich cautions that German-US yield spreads could exert a stronger influence again.

His recovery case depends on a meaningful retreat in US yields: "Still, if the soaring 10Y UST yield retreats from its current levels after reaching a twenty-year high of 5.3645% on 7 October and moves towards 5.00%/4.80% (the values prevailing in early September, before the bond market selloff), the EUR-USD decline may take a breather."

Fresh US inflation tests that recovery case Thursday's producer-price release makes it harder to assume that inflation will permit a sustained fall in yields.

US producer prices rose 1.3% in September, while the measure excluding food, energy and trade services increased 0.5%.

Those results arrived after UniCredit's assessment, which incorporated Wednesday's consumer-price surprise but not the subsequent producer figures.

Mialich explains the bank's policy assumption: "Note that such a correction in the 10Y UST yield would be in line with our baseline scenario, which includes just one more rate hike by the Fed this year and steady rates in 2027, the same picture New York Fed President John Williams depicted overnight."

If investors instead conclude that inflation requires a longer tightening cycle, the expected relief for EUR/USD could prove short-lived.

Buying Treasuries during a stock-market decline can lower yields temporarily without resolving that policy risk.

Even if US yields do fall, UniCredit does not expect the Euro simply to recover its early-September trading range.

Mialich writes: "However, lingering political tensions across the eurozone and concerns regarding public finances in France may thwart a potential EUR-USD recovery. In early September, the pair traded between 1.15 and 1.16. Re-approaching or even exceeding 1.14 has probably become a difficult task at this point."

UniCredit attaches no deadline to that recovery hurdle.

EUR/USD exchange rate FAQ Is 1.14 UniCredit's forecast target?

No. It is a level the bank considers difficult to regain, without assigning a deadline.

What could support a Euro recovery?

UniCredit expects lower US Treasury yields to relieve some of the pressure on EUR/USD.

Why might the rebound remain limited?

French fiscal concerns could weigh on the Euro even if US yields fall, while fresh US inflation threatens that yield-retreat assumption.

FOMC Polymarket betting odds show traders pricing a 73% chance that the Federal Reserve leaves interest rates unchanged at its October 27–28 meeting, against 27% for a 25-basis-point hike.

The odds come from Polymarket’s October contract, which has traded more than $41.5 million in volume. They are a market-implied probability, not a poll or an official Fed forecast, and they have moved quickly. An earlier snapshot taken at 07:53 UTC on October 15 showed a 75.5% chance of a hold, and hotter inflation data has arrived since.

The Kobeissi Letter reported that September PPI inflation rose to 6.3% against expectations of 5.3%, with core PPI at 5.0% against 4.4%, and that rate-hike odds were climbing on the news.

For Bitcoin traders, the odds put a number on one near-term macro risk: whether the next Federal Open Market Committee (FOMC) decision changes borrowing costs.

Rates shape Treasury yields, the dollar and appetite for risk assets, but the contract does not show who is trading it or how BTC will react.

Fed Decision in October Polymarket Have a Gut Feeling? It Pays on Polymarket

What Do the FOMC Polymarket Betting Odds Measure? The contract tracks the change in the upper bound of the target federal funds rate compared with its level before the October meeting. Besides a hold and a 25-basis-point hike, the listed outcomes include a hike of 50 basis points or more and cuts of 25 or 50 basis points or more, all of which are priced below 1%. A basis point is one-hundredth of a percentage point. If a decision does not match a listed outcome, the market rules round the change up to the nearest 25 basis points.

The market is scheduled to close on October 29, and its resolution is tied to the FOMC statement and Federal Reserve rate information. Because prices respond to every new data release, the odds should always be read with their timestamp.

Understanding the difference between prediction-market prices and conventional rate expectations matters when comparing signals. The distinction is explained in this guide to CME FedWatch and Polymarket rate odds.

Could a Fed Hold Ease Pressure on Bitcoin? JUST IN: Bitcoin falls under $80,000 pic.twitter.com/W98z2SlrdI

— Watcher.Guru (@WatcherGuru) October 15, 2026

An October hold could remove an immediate policy-change catalyst, but that is not the same as a bullish Bitcoin signal. A pause might bring near-term relief if it reduces concern about a sudden rate increase. Traders could also read it as tightening delayed rather than abandoned, and the December contract points that way: Polymarket prices an 80% chance of a 25-basis-point hike on December 9, against 19% for no change. A separate Polymarket market prices a 97% chance of zero Fed rate cuts in 2026.

The Federal Reserve’s September minutes describe market pricing and surveys that assigned considerable probability to at least 25 basis points of firming by year-end. They also describe persistent inflation, a resilient economy and uncertainty about the outlook. That is a description of market expectations, not a promise by the committee to raise rates in October or December.

For BTC, the practical distinction is between the immediate decision and the path markets anticipate afterward. A hold with language that keeps further increases in play could leave yields and the dollar sensitive to new inflation or economic data. A clearer pause in the expected path could ease that pressure, though the Polymarket contract itself does not predict Bitcoin’s price.

Bitcoin traders assessing October’s Bitcoin performance and macro risks still need to distinguish a single meeting’s outcome from the rate path beyond it.

DISCOVER: 10+ Next Crypto to 100X In 2026

When Is the Next Fed Decision? The Federal Reserve’s calendar lists the October 27–28 meeting, followed by a December 8–9 meeting. The October contract names the post-meeting FOMC statement as its resolution source, so the published decision, not the odds displayed beforehand, will determine the result.

Until then, the FOMC Polymarket betting odds are a changeable snapshot of market pricing. A hold would mean no adjustment to the target range at this meeting, but it would not tell Bitcoin traders whether the Federal Reserve considers its tightening cycle finished.

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Bitcoin retested $82,000, and the move cost leveraged short sellers $20 million in liquidations.

What happened at $82,000 A short is a bet that price will fall. Add leverage, and that bet is made with borrowed money that an exchange can pull the moment the trade moves against you.

When Bitcoin pushed back toward $82,000, some of those positions hit their liquidation thresholds. Exchanges closed them automatically, wiping out $20 million in short exposure.

Forced closures of shorts also mean forced buying. Each liquidated short has to be bought back, which can add a little fuel to the move that caused it in the first place.

Total liquidations across crypto derivatives markets topped $1 billion during some stretches of October 2026. CoinGlass data showed long positions making up roughly 80-90% of those totals.

Specific flushes included $771 million in liquidations, mostly from long trades. Separate events wiped out $120 million and $485 million at other points.

Why $82,000 keeps coming up Bitcoin has spent early to mid-October 2026 trading near $82,000. It has retested that level several times and slipped below it more than once.

Rising oil prices, fresh US inflation data, rising Treasury yields and moves in Asian equity markets have all weighed on risk appetite.

Spot Bitcoin ETFs in the US have also seen outflows totaling hundreds of millions of dollars in a single week.

Traders have been watching a support zone around $81,000 to $82,000. A second line sits lower, near $80,100.

Leverage is shrinking, but it has not left the building The heavy long liquidations earlier in the month forced a partial clean-out of the derivatives market. Bitcoin futures open interest dropped to around $52.7 billion afterward.

What this means for traders and investors The $20 million short squeeze tells you positioning had shifted. After weeks of punishing longs, enough traders had turned bearish that a bounce to $82,000 could catch some of them offside.

Still, the size of this squeeze is a reminder to keep expectations calibrated. A $20 million flush is a ripple compared to the $771 million long wipeout.

For anyone trading with leverage, the $81,000 to $82,000 zone remains the line to watch. A clean break below it could put the $80,100 level in play.

For longer-term holders, if US spot Bitcoin ETFs stop bleeding capital, that would remove one of the clearer sources of pressure this month.

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

According to a recent Bloomberg report, Ripple is broadening its reach in the traditional finance space by opening up access to perpetual futures for stocks, commodities, and other traditional assets for institutional investors.

Ripple's prime brokerage arm, Ripple Prime, is launching the new service that will give institutions access to over 100 markets, including equities, stock indexes, exchange-traded funds (ETFs), and commodities.

The new offerings come at a time of explosive growth in perp contracts on real-world assets, with open interest across several major platforms jumping from near zero to around $9 billion in the last year.

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Unlike traditional futures contracts, perpetual contracts don't expire, so users can hold leveraged positions without needing to roll them over into new contracts.

Ripple expands Wall Street ambitionsThe new products are being rolled out via Trade.xyz, which is a large trading platform for perp contracts on traditional assets on the decentralized Hyperliquid platform.

Earlier this year, in February, Ripple Prime launched crypto perpetual futures as part of its growing efforts to offer a full trading solution for institutional investors.

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The new offering includes features like cross-margining, where investors can leverage the same collateral across different positions instead of needing separate margins for each trade.

Per Michael Higgins, the international CEO of Ripple Prime, this new setup could allow institutional users to more effectively manage their capital and access new liquidity pools.

At the same time, Higgins stressed that with this new offering, institutions can gain exposure to these markets on a "more regulated" infrastructure.

Perps futures grow in appeal to institutionsThe explosion in growth for real-world asset perpetual futures has been drawing increasing interest from hedge funds and professional market makers.

As Higgins pointed out, institutional traders are now looking into various strategies around using these new instruments.

On the one hand, some investors are looking to pursue basis trades by taking positions on perps and their underlying assets to exploit price discrepancies. That would let them avoid general market exposure.

Meanwhile, Higgins indicated that traditional hedge funds are on the cusp of being able to get direct access to tokenized real-world assets.

Aztec Network wants to be quantum-proof by the end of 2030. The privacy-focused Ethereum Layer 2 laid out that goal in a post-quantum security roadmap published on October 15, 2026.

The plan has two layers. Aztec controls the first one. The second depends on Ethereum itself, which has its own priorities and its own schedule.

What Aztec is actually promising
The first concrete deliverable lands in February 2027. That is when Aztec plans to ship hardened developer libraries alongside improved off-the-shelf contract patterns.

Contracts on the network are written in Noir, Aztec’s programming language, and cover both public and private state.

The main threat these libraries target is known as a harvest-now-decrypt-later attack. An attacker collects encrypted data today, stores it, and waits. Once quantum computers become capable enough, the attacker cracks it open at leisure.

For a privacy network, that risk is pointed. Data posted to a public blockchain does not disappear. If it is encrypted with methods that age badly, today’s confidential transaction becomes tomorrow’s open book.

The milestones between now and 2030
After the February 2027 libraries, Aztec has proposed two further checkpoints for choosing its post-quantum building blocks, known as cryptographic primitives.

In March 2027, the target is selecting post-quantum signatures. In July 2027, the focus shifts to public-key encryption.

Both dates are proposals, not commitments carved in stone.

The end goal, by the close of 2030, is full post-quantum security across applications, protocols and Ethereum’s settlement layer. Aztec says a complete migration will require extensive changes to Ethereum’s data availability mechanisms.

A head start, according to Aztec
Aztec argues its existing infrastructure already includes foundational design choices that resist certain quantum threats, differentiating it from many other systems that rely heavily on elliptic curve cryptography.

Co-founder Zac Williamson pointed to that foresight in the protocol’s original design.

Why this matters beyond Aztec
No immediate market reaction or token-related developments accompanied the announcement.

Developers building private applications on Aztec get a clear date for when stronger tools arrive, making it easier to plan launches and audits around February 2027. Users who rely on Aztec for confidentiality face harvest-now-decrypt-later risk from data created today. Aztec’s roadmap ties its security timeline to changes in base-layer data availability, adding pressure for those changes to stay on Ethereum’s agenda.

The checkpoints to watch are the February 2027 library release and the two primitive decisions in March and July 2027.

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

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Traders betting on higher prices of Cardano (ADA) are under increased pressure as a wider sell-off in the cryptocurrency market is leading to liquidations that are heavily skewed toward longs.

Cardano (ADA) extended its drop early Thursday following a hotter-than-expected CPI report, with the continued price decline taking a toll on bulls, who suffered the brunt of liquidations. 

According to CoinGlass data, Cardano saw a total of $4.27 million in liquidations, with longs accounting for almost all of this figure at $4.2 million while shorts came in at $73,080. The imbalance between long and short liquidations yields 5,747%, highlighting the extent to which bullish leveraged traders have been affected by the latest market decline.

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At the time of writing, ADA was down 1.33% in the last 24 hours to $0.224, after reaching a low of $0.216.

Market hit by significant selloffThe broader crypto market saw significant selling pressure as Wednesday's inflation data ignited concerns that the Federal Reserve could raise interest rates this month. 

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Data released Wednesday showed consumer prices rose 3.7% in the 12 months through September, up from 3.4% in August and above economists' expectations. Core CPI climbed 2.6%, accelerating from 2.4% the previous month.

Losses worsened on Thursday, with $913 million in futures positions liquidated over the past 24 hours, according to Coinglass data. The majority of these were longs, or traders expecting the price to rise.

Cardano Leios testnet enters next phaseThe Musashi Dojo, a public Cardano testnet for Ouroboros Leios, has moved to its next phase. Running from late June 2026 through the mainnet hard fork, Musashi Dojo hosts successive node releases, from early prototypes to release candidates.

According to a recent announcement by Input Output, the Musashi Dojo has entered its Fire phase, the third among the five stages of the testnet, intending to raise the load step by step, testing the protocol and hardening the code to production grade at each level.

The Musashi Dojo testnet moves through five stages, Earth, Water, Fire, Wind, and Void, each named after a book in Musashi's 1645 treatise, the Book of Five Rings.

Following the mainnet launch of Leios, Cardano will support an initial 5 to 20 times increase in throughput capacity. 

15.10.2026 17:33, NOW

Softwarová společnost ServiceNow, která pomáhá firmám automatizovat a digitalizovat pracovní postupy napříč celou organizací, představila nový nástroj AI Passport, který ověřuje rozsah oprávnění AI agentů. Firma tím rozšiřuje svůj provozní rámec pro správu podnikové AI.

AI Passport funguje jako kryptograficky podepsaný certifikát, který v reálném čase vymezuje, k čemu mají AI agenti přístup a co smějí dělat. Pokud agent jedná mimo svá oprávnění, nástroj ho může přesměrovat, omezit, nebo v případě potřeby úplně ukončit. ServiceNow tento přístup popisuje jako posun od reakce k prevenci. Místo zpětného dohledávání v auditních záznamech má nástroj zabránit nepovoleným akcím už za běhu. Přínosný má být hlavně u externích AI agentů, u nichž se firma nemusí spoléhat na to, co agent o svých oprávněních sám tvrdí.

Partnerem pro návrh a uvedení řešení na trh je NVIDIA. Ve spolupráci s její platformou Open Agent Safety Platform vyvíjí ServiceNow implementaci připravenou pro ostrý provoz. AI Passport by měl být dostupný ve 4Q 2026.

Vývoj akcie Akcie společnosti ServiceNow (NOW) posilují o 5,61 % na 147,83 USD.

Zdroj: ServiceNow, Bloomberg

Michal Bárta
Fio banka, a.s.
Prohlášení

BlackSky Technology Inc. (NYSE: BKSY) signed a seven-figure annual extension with HEO to enable fully automated, low-latency non-Earth imaging (NEI). The renewal agreement marks a significant technological evolution in the partnership, incorporating access to BlackSky’s next-generation, very high-resolution Gen-3 imagery to provide unmatched clarity, quality, frequency and speed for global space domain awareness (SDA) missions across defense, intelligence and commercial sectors. The partnership grew quickly from an initial short-term, six-figure pilot to a growing seven-figure annual contract now entering its third year.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261015435726/en/

A BlackSky non-Earth image of the Landsat-5 satellite collected through the HEO Inspect platform.

“Our expanded partnership with HEO reflects the rapid evolution of non-Earth imagery from a specialized proof-of-concept into a critical component of mainstream space domain awareness,” said Brian O’Toole, BlackSky CEO. “With access to our combined Gen-2 and Gen-3 constellation, customers gain industry-leading image clarity and more collection opportunities essential for observing and characterizing intricate objects in orbit. Our software-defined, AI-enabled end-to-end architecture provides the flexibility to seamlessly leverage unused constellation capacity and deliver high-value, real-time intelligence for vital SDA missions without disrupting our primary terrestrial imaging operations.”

“We are entering an era where we must inspect, understand and maintain the infrastructure we put in orbit. That requires more frequent access to high-resolution imagery, without building a dedicated spacecraft for every mission,” said Will Crowe, HEO CEO & Co-Founder. “By combining BlackSky’s constellation with HEO’s software, we can unlock more value from existing space infrastructure and give customers a clearer picture of the objects they depend on.”

The expansion introduces next-generation capabilities, combining BlackSky’s high-cadence Gen-2 monitoring constellation with the increased imaging precision of its Gen-3 satellites. By leveraging BlackSky’s advanced architecture, HEO’s target and imaging algorithms will identify expanded SDA tracking opportunities with access to BlackSky’s full constellation to observe, characterize, and track spacecraft and other objects in orbit. Higher resolution Gen-3 imagery will also enable deeper analysis and richer insights into objects in orbit, delivering more frequent and precise intelligence at mission speed.

The relationship between BlackSky and HEO began in 2024 with the integration of BlackSky's proprietary mid-inclination orbit constellation into the HEO Inspect platform. The partnership progressed through rigorous phases of development, expanding HEO customers’ access to BlackSky’s NEI. Today, this fully automated tasking-to-delivery pipeline through HEO Inspect allows international defense and commercial operators to generate rapid analytics reports, identify satellite subsystems, perform anomaly detection, and map pattern-of-life behaviors enabled by object detection and identification algorithms and data fusion.

About BlackSky

BlackSky is a real-time, space-based intelligence company that delivers on-demand, high frequency imagery, analytics, and high-frequency monitoring of the most critical and strategic locations, economic assets and events in the world. BlackSky owns and operates one of the industry’s most advanced, purpose-built commercial, real-time intelligence systems that combines the power of the BlackSky Spectra® tasking and analytics software platform and our proprietary low Earth orbit satellite constellation.

With BlackSky, customers can see, understand and anticipate changes for a decisive strategic advantage at the tactical edge, and act not just fast, but first. BlackSky is trusted by some of the most demanding U.S. and international government agencies, commercial businesses, and organizations around the world. BlackSky is headquartered in Herndon, VA, and is publicly traded on the New York Stock Exchange as BKSY. To learn more, visit www.blacksky.com and follow us on X.

About HEO

HEO is building the intelligence layer for space. We image objects in orbit on demand, turning existing satellites into inspection platforms and building our own sensors where coverage gaps remain. Our software automates tasking, capture and analysis, turning imagery into insight about the condition, configuration and behaviour of objects in orbit. HEO operates internationally, with offices in Australia, France, Japan, the United Kingdom and the United States. Our goal is to make any image in the Solar System available on demand.

Forward-Looking Statements

Certain statements in this press release may contain forward-looking statements within the meaning of the federal securities laws with respect to BlackSky. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect our expectations, plans, or forecasts of future events and views as of the date of this communication. We anticipate that subsequent events and developments will cause their assessments to change.

Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Additional risks and uncertainties are identified and discussed in BlackSky’s disclosure materials filed from time to time with the SEC which are available at the SEC’s website at http://www.sec.gov or on BlackSky’s Investor Relations website at https://ir.blacksky.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261015435726/en/

CoreWeave's CEO sold tens of millions in shares the same day he told CNBC everything was fine, and now Jim Cramer says shareholders are terrified while the company's bonds flash a warning signal few are talking about.

On September 30, 2026, CoreWeave (NASDAQ:CRWV) chief executive Michael Intrator went on CNBC and said data center regulations would not hurt AI demand and that margins were higher than a year ago. The same day, he sold 78,552 Class A shares of CoreWeave at $87.69, a sale worth at $6,888,224.88. Two weeks later the stock trades at $61.45, and Jim Cramer says owners are scared.

Form 4s Show One Sale Outside a Trading Plan
The Form 4 for the September 30 sale (accession 0001769628-26-000441) leaves the 10b5-1 plan box unchecked for all five reported transactions. So the sale was discretionary. The day before, Intrator sold shares at prices from $85.8577 to $90.2553 under a 10b5-1 plan. Those sales were worth more than $26 million, which brings the two days to more than $33 million. He also made plan sales on September 15 and September 22.

A 10b5-1 plan schedules sales ahead of time, and no one has accused Intrator of misconduct. He still holds 21,867,489 Class B shares directly.

Cramer Calls It a “Fire Drill Moment”
Cramer spoke on CNBC’s Squawk on the Street. CNBC’s segment captured the mood:

“I think that people are terrified.”

He said “there has been a huge amount of insider selling” and that people are “passing around the list of insider sales.” He also acknowledged that “Michael still remains the largest shareholder.” Intrator told staff in a note that “sometimes the market can act irrationally.” Cramer said the note:

“seemed out of touch with what is really a fire drill moment… We don’t want arrogance.”

Debt Drives the Risk
CoreWeave shares fell 30.53% over the past week and are down 54.16% over the past year. CNBC reported the company’s bonds yielding about 15%. Cramer said the public debt is the main concern because it could limit the company’s ability to raise capital.

Growth is still strong. Second-quarter revenue rose 112.3% to $2.58B, and the backlog reached ~$104B. The costs are rising too. The net loss widened to -$626M. Interest expense rose to $640M from $267M. Capital spending of $6.42B left free cash flow at -$5.74B. Total liabilities stand at $72.05B. Intrator’s view in August:

“CoreWeave reached an important inflection point this quarter as our scale began to translate into expanding operating leverage.”

Nebius and Oracle Are Falling Too
Nebius Group (NASDAQ:NBIS | NBIS Price Prediction), a direct GPU cloud rival, dropped 28.21% this week. It remains up 103.39% year to date, while CoreWeave is down 14.19%. Oracle (NYSE:ORCL) slid a smaller 8.55% this week, but its 55.67% one-year drop is a match for CoreWeave’s. Barron’s reported that NVIDIA (NASDAQ:NVDA) can’t escape the AI selloff. NVIDIA supplies CoreWeave’s GPUs and made a $2B Class A investment in the company. The data-center expansion still has to be powered, cooled, and connected by someone, and we rounded up seven suppliers doing exactly that in a free report. Cramer said he had not heard of “any deals dying or not being able to be completed.”

Signals to Track Next
Bond yields, new Form 4 filings and any new financing will show whether lenders still back the expansion. The next earnings report will test whether operating leverage can keep pace with interest costs.

Contact [email protected] for any questions or corrections.

LINK’s previous ascending channel has broken down, placing the $11.91 Fibonacci level under scrutiny. Falling open interest and predominantly long liquidations suggest that bullish leverage is being unwound. A recovery above $12.84 would improve the near-term outlook, but confirmation of a broader reversal remains absent. Chainlink (LINK) is testing a price area that could determine whether its recent correction extends into a deeper decline. The token has slipped below its former ascending channel, while derivatives data points to traders reducing exposure rather than aggressively rebuilding positions.

LINK traded at $12.128 on October 15, down 2.35% during the developing daily session, according to information from TradingView.

The immediate concern is not simply that Chainlink is approaching $12. Its latest intraday low sits almost directly on a major Fibonacci retracement, leaving little distance between the current price and a potentially important technical breakdown.

Chainlink’s Former Uptrend Has Turned Into Resistance LINK’s recovery from August carried the cryptocurrency from approximately $8 to above $15 by late September. Throughout much of that advance, price action followed an ascending channel, with successive rebounds maintaining a rising support line.

Chainlink (LINK) approaches horizontal support after breaking below its ascending channel. Chart: Alexander Zdravkov, via TradingView. That structure has since broken.

Following the late-September peak, LINK began forming lower highs inside a descending channel. Attempts to recover have encountered selling pressure before reaching previous highs, while the former rising trendline no longer provides reliable support.

Thursday’s intraday low of $11.920 brought LINK back toward the lower end of its recent trading range. The price subsequently recovered to $12.128 but remained marginally below the horizontal level near $12.14. With the daily candle still forming, it remains unclear whether buyers can reclaim that area before the session closes.

An established horizontal area around $12.14 adds another layer to the setup. Previously associated with buying interest, that level is now being tested from below at the time of the screenshot.

A daily close back above it would suggest that buyers have defended the nearby retracement zone. Failure to recover would leave the market more exposed to another test of $11.91.

Neither outcome is confirmed while the October 15 candle remains open.

Falling Open Interest Changes the Interpretation The derivatives market offers a useful counterpoint to the bearish chart.

According to information from Coinalyze LINK’s aggregate open interest declined 7.25% over 24 hours to $275 million, with the reported exposure concentrated entirely in perpetual contracts.

Exchange-level liquidation data highlights where leveraged trading positions were hit hardest. Binance held approximately $110.6 million in outstanding positions, followed by Bybit at $70.1 million and Hyperliquid at $58.4 million. Together, the three exchanges accounted for nearly 87% of the total.

The decline in open interest is significant because it suggests that outstanding exposure has contracted during the price retreat.

That differs from a sell-off accompanied by rapidly expanding open interest, which could indicate that traders are establishing additional directional positions.

Here, the available evidence is more consistent with a reduction in existing exposure. However, open interest alone cannot distinguish voluntary position closures from forced liquidations or identify whether new short positions are being opened.

Trading activity has not disappeared. The supplied futures-volume heatmap showed Binance recording $175.23 million in turnover and MEXC $101.71 million.

The contrast between active trading and shrinking outstanding exposure suggests considerable repositioning, although the two datasets do not establish precisely which transactions caused the decline in open interest.

Long Liquidations Point to Bullish Deleveraging Liquidation figures provide a clearer picture of which traders were under pressure.

According to Coinglass, over the latest 24 hours, LINK liquidations totaled $2.09 million, including approximately $2.03 million in long positions and $54,760 in shorts.

Longs therefore represented roughly 97% of forced closures.

The imbalance supports the interpretation that leveraged bullish positions were particularly vulnerable during the decline.

Still, the liquidation total is small relative to aggregate open interest. It would be inaccurate to attribute the entire 7.25% contraction in outstanding positions to forced selling.

The more defensible conclusion is that Chainlink is undergoing a reduction in speculative exposure, with liquidations forming one identifiable component of that adjustment.

RSI Weakens as the $11.91 Level Comes Into Focus Momentum indicators reinforce the deterioration in LINK’s daily structure.

The Relative Strength Index stood at 41.57, below its displayed moving average of 50.75. That indicates weakening momentum, although the indicator remains above the conventional oversold threshold of 30.

For the next sessions, three price areas deserve attention.

The first is the $12.14 horizontal zone, which LINK would need to reclaim to demonstrate renewed buying interest.

The immediate downside reference is $11.91, corresponding to the 0.5 Fibonacci level and closely aligned with Thursday’s intraday low. A daily close below this area would strengthen the bearish outlook and shift attention toward earlier price activity around $11.

Conversely, reclaiming $12.14 would provide an initial sign of stabilization, with the 0.618 Fibonacci level at $12.84 becoming the next upside reference. However, a broader recovery would require LINK to overcome the descending channel’s resistance rather than merely rebound from its recent low.

By contrast, a decisive close below $11.91 accompanied by expanding open interest would warrant closer examination of whether new positioning is reinforcing the decline.

The current data does not establish either scenario. For now, Chainlink remains in a corrective structure, with weakening momentum and reduced derivatives exposure placing greater importance on how price behaves around the latest support test.

Alexander Zdravkov is a crypto journalist and market analyst specializing in digital assets, blockchain technology, and the rapidly evolving cryptocurrency market. He entered the industry more than four years ago, drawn to the speed of innovation in crypto and the potential of blockchain-based financial systems to reshape traditional markets. His work focuses on understanding the forces behind crypto market movements, from Bitcoin and altcoin cycles to institutional adoption, regulation, exchange-traded products, stablecoins, DeFi, and emerging blockchain ecosystems. Rather than simply following price action, Alexander looks at liquidity, investor positioning, market structure, and macroeconomic conditions to identify developing trends and explain what they could mean for digital assets. With a degree in International Relations, he brings a broader perspective to cryptocurrency coverage by connecting developments in the sector with monetary policy, geopolitics, regulation, and global capital flows. This allows him to examine crypto not as an isolated market, but as an increasingly interconnected part of the global financial system. Over the course of more than five years in financial journalism, Alexander has written over 5,000 articles covering cryptocurrencies, blockchain, traditional markets, and the global economy. His reporting spans Bitcoin, Ethereum and altcoins, DeFi protocols, institutional crypto adoption, regulation, market infrastructure, security incidents, and major developments shaping the wider digital asset industry. His approach is centered on giving readers context behind the numbers and headlines, explaining not only what is happening in crypto markets, but why it matters and what could come next.

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Earn on Startale App now takes USDC Startale App introduces two new Earn vaults today, expanding the assets you can put to work directly from the App. Earn now supports USDC alongside USDSC and ETH, with more to come.

Both vaults lend your USDC to borrowers and pay you interest.

Gauntlet USDC Prime vault Gauntlet USDC Prime vault is curated by Gauntlet, powered by Morpho. Your USDC is lent to borrowers who post major crypto assets as collateral. Borrowers post more than they borrow while you earn the interest they pay.

Flowmark fGenesis USDC vault Flowmark fGenesis USDC vault is curated by Flowmark, powered by Morpho. Your USDC is currently lent to borrowers who post PGNGI+ as collateral. PGNGI+ is tokenized by Asseto and linked to the Partners Group Next Generation Infrastructure strategy. Asseto brings the real-world asset onchain, Flowmark sets the risk parameters, and you earn the interest borrowers pay.

How to deposit into the USDC vaults Both vaults are on the Ethereum network and accept deposits from your Startale Smart Wallet only. External wallets such as MetaMask cannot deposit into them. Earnings compound automatically and are added to your position, so your earnings start earning too. There's no need to claim or manually redeposit.

Fees and withdrawals There are no deposit fees on either vault. On the Gauntlet USDC Prime vault, Startale takes a small share of what you earn, never of your deposit. The Flowmark fGenesis vault has no withdrawal fee. Full details on deposits, withdrawals, earnings and fees for each Earn vault are in the FAQ.

There is no lock-up period, and withdrawals are usually instant. When the vault is fully lent, you can withdraw what’s available instantly and the rest once borrowers repay or new deposits come in. Your position keeps earning while you wait, and this mainly affects very large withdrawals.

How these differ from the USDSC vault All three vaults earn on stablecoins. The USDSC vault pays you the interest from the short-term US Treasury bills that back USDSC, on Soneium, with instant withdrawals and no Startale fee. The two USDC vaults on Ethereum earn from onchain lending, and withdrawals depend on how much of the vault is lent at that moment.

Start earning Open the App, go to Earn, and see what your holdings could be making.

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The integration enables AI agents on XDC AI to prove a verified owner stands behind them, marking Concordium’s first full-network integration.

London, UK and Abu Dhabi, UAE, 14 October 2026. XDC Network, a Layer-1 blockchain focused on payments, trade finance and real-world assets, has selected Concordium as the exclusive identity verification layer for XDC AI, its agent payments marketplace. The integration enables agents to receive an on-chain verification badge confirming that a verified individual or business stands behind them, without publicly disclosing the owner’s identity.

Launched in July 2026, XDC AI provides agents with non-custodial wallets to discover and pay for services in USDC using the x402 payment standard. The Concordium integration adds an identity verification mechanism designed to establish accountability as AI agents conduct financial transactions and act on behalf of businesses.

Agent owners can complete verification in minutes through the Concordium Wallet, using a passport and liveness check conducted by an independent identity provider. They then link their XDC wallet with two signatures that don’t move funds and register the agent. Concordium issues a publicly verifiable badge while keeping personal information off-chain. Identity disclosure requires a court order and joint action by independent Privacy Guardians.

“Agents on XDC AI can already discover services and pay for them in USDC. What institutions need next is to know who stands behind an agent before they trust it with real money. Concordium gives every verified agent an accountable owner without putting anyone’s personal data on-chain, so builders on XDC earn trust from their very first transaction,” says Atul Khekade, Co-founder, XDC Network.

“Payment tells you an agent can spend. It doesn’t tell you who answers for it,” said Boris Bohrer-Bilowitzki, CEO of Concordium. “XDC has built the rails for agents to transact. We make sure a verified person or business stands behind every agent, without making their identity public. That’s the accountability institutions need to give agents real authority. XDC is the first of many networks integrating with us.”

Concordium already supports agent verification on Ethereum and Solana, with XDC becoming its first full-network integration. Agents retain their existing wallets, code, and operations on XDC, while Concordium provides the identity verification layer. The partnership includes revenue sharing on each agent verification, with every verified agent creating a Concordium account linked to a verified owner. Network fees are sponsored, eliminating the need for developers to hold CCD tokens.

Agent verification is now available at xdcai.tech/agent-verification, with developer documentation at docs.xdcai.tech/wallet/agent-verification.

About XDC Network XDC Network is an open-source, EVM-compatible Layer-1 blockchain built for payments, trade finance and real-world assets, offering high throughput, low fees and enterprise-grade security, while being ISO 20022–compliant to support interoperability with global financial messaging and payment systems. XDC Network underpins a growing ecosystem of regulated digital money, trade, and settlement solutions across the globe.

xinfin.org

About Concordium Concordium is AI infrastructure for the agentic economy powered by a purpose-built, regulatory-grade blockchain with identity and trust built into the protocol. The only platform where verified humans and verified AI agents operate on the same identity layer. Designed by world-renowned cryptographers and trusted by enterprises, agent networks, and developers worldwide. 

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Simeon is a detail-driven editor who sharpens every piece with clarity and precision, ensuring clean, consistent, and professional content throughout.

Apple just posted its ninth straight earnings beat and sits near all-time highs, but whether that momentum carries through 2030 depends on forces the market is already starting to question.

Shares of Apple (NASDAQ:AAPL | AAPL Price Prediction) start this projection at $336.64, the price the forecast model works from. So what happens if you put $1,000 into Apple today and hold it until 2030?

The stock is up 25.74% year to date and 34.69% over the past year. Apple also just beat earnings estimates for the 9th consecutive quarter, which makes a four-year outlook worth working through.

What $1,000 in Apple Could Grow to by 2030 The model runs over a five-year horizon that ends October 11, 2031, and it sets quarterly milestones along the way. On the expected path, the October 11, 2030 milestones is $507.28 per share.

With that milestones, a $1,000 investment could be worth about $1,506.89 by 2030, a total return of 50.69%.

Read that 2030 number as an illustrative point on the five-year path. The model’s full target is the five-year endpoint of $547.74. At that level, $1,000 would become $1,627.10, gaining 62.71% overall, or 10.23% a year.

Bull, Base, and Bear Outcomes for Your $1,000 Stake Five-Year Modeled Horizon (October 11, 2031) Scenario Target Price Total Return Value of $1,000 Bull $658.79 95.7% $1,957 Base $547.74 62.71% $1,627.10 Bear $378.14 12.33% $1,123.30 2030 Illustrative Checkpoint (October 11, 2030) Scenario Path Price Total Return Value of $1,000 Bull $606.62 80.2% $1,801.98 Base $507.28 50.69% $1,506.89 Bear $362.23 7.6% $1,076.02 Over the next year, the model’s target is $392.04, which works out to 16.46% upside. The one-year bear case is $333.66. Confidence stands at 0.9, which the model rates as high.

Analysts are more conservative. The consensus analyst target is $328.09, which is below the current price. Ratings break down as 6 Strong Buy, 19 Buy, 13 Hold, 3 Sell and 3 Strong Sell.

Three Engines That Could Grow Your Stake A strong iPhone cycle. Fiscal third-quarter revenue rose 16.4% to $109.42 billion. EPS came in at $2.02, ahead of the $1.8914 estimate. iPhone revenue grew 22% on demand for the iPhone 17 family. Tim Cook, Apple’s chief executive at the time of the call, called it “the most powerful and most popular iPhone lineup we’ve ever had.”

Rising earnings forecasts. Consensus EPS climbs from $8.8202 for fiscal 2026 to $9.5758 for fiscal 2027, based on 40 analysts. Services, Apple’s higher-margin business, brought in a record $30.7 billion, up 12%.

AI features and cash returns. Management described the redesigned Siri AI as “a very big idea”. It is also pitching the Mac as a machine for running AI locally. Meanwhile, the board approved an additional $100B buyback and raised the dividend 4%. Apple bought back $25.8 billion of stock last quarter.

Risks That Could Push Your $1,000 Toward the Bear Case Valuation: The stock trades at about 39x trailing earnings. That leaves little margin if growth slows. Supply and memory costs: Apple expected supply constraints to increase significantly in the September quarter. Cook described memory pricing as “a 100-year flood.” iPhone 18 demand: Shares fell Friday after a report that Apple is cutting iPhone 18 Pro production and component orders (Barron’s, Forbes). One-time boosts: Tariff refunds added about $0.11 to quarterly EPS. That benefit will not repeat. Regulation: A U.S. court ruling on App Store link-out transactions is headed to the Supreme Court. Apple also still needs work with the European Commission before Siri AI can launch in the EU (earnings call). Where Your $1,000 Could Land by 2030 Using the model’s 2030 milestones, a $1,000 stake in Apple could be worth between $1,076.02 and $1,801.98, with the expected result at $1,506.89.

The range at year five runs from $1,123.30 to $1,957. These figures are scenarios, and none of them is guaranteed. This is a forecast, not a recommendation to invest.

Contact [email protected] for any questions or corrections.

Key Takeaways TSLA secured an order for 260 Megapack 2XL units, providing about 1 GWh of storage capacity.Deliveries are expected to begin in late 2027, with installations scheduled to become operational in 2028.About 33 units have signed contracts, while 150 remain under negotiation, limiting revenue visibility.
Tesla (TSLA - Free Report) is gaining opportunities in the energy storage market as artificial intelligence (AI) data centers increase electricity demand. Per Teslarati, Taiwan-based power company Apollo Power has ordered 260 Tesla Megapack 2XL battery storage units, representing approximately 1 gigawatt-hour (GWh) of storage capacity. Apollo signed the contract with Tesla's Taiwan energy arm last week to support behind-the-meter energy storage and grid resilience projects. 

Deliveries are expected to begin in batches toward the end of 2027, with the installations scheduled to become operational in 2028. The companies have not disclosed the contract value, citing a confidentiality agreement. The order highlights the growing role of large-scale battery storage in supporting energy-intensive AI infrastructure. 

TSLA's AI Storage Business Builds on AI DemandThe Apollo Power agreement could strengthen Tesla's position in the energy storage market as AI data centers seek reliable power supplies. Battery storage systems help manage electricity demand, provide backup support and reduce dependence on grid availability.  

Per Teslarati, Apollo is also working with Phison, Gigabyte and Shihlin Electric on an AI data center and grid resilience alliance. The initiative builds on a pilot project at Phison's Zhunan facility, where Apollo and Tesla Energy Taiwan installed grid-forming Megapack 2XL units in June. Teslarati also notes that Megapacks support xAI's Colossus facility in Memphis and a 400-megawatt AI campus in Brazil. The Megapack 2XL has also been included in Nvidia's DSX Ready qualification for battery storage in AI factories. 

Tesla's broader storage capabilities could support further growth. Per Teslarati, the company has deployed more than 50 GWh of energy storage worldwide, while its Megablock offering targets commissioning 1 GWh of capacity in 20 business days.  

Energy Generation and Storage, led by Megapack and Powerwall, remains a key diversification lever. In the third quarter of 2026, Tesla deployed 13.7 GWh of energy storage products, up 9.6% year over year and 1.4% sequentially. Tesla says its order backlog remains robust, and Megafactory Texas is nearing production of Megapack 3 and Megablock, which should expand capacity. 

That company-wide momentum is separate from the Apollo deal, though, whose revenue contribution remains unclear.  

Competitive Landscape: Fluence Energy & Bloom EnergyFluence Energy, Inc. (FLNC - Free Report) competes with Tesla in the grid-scale battery storage market, supplying energy storage systems, software and services for utilities and large energy projects. Per Reuters, Fluence was engaged in more than 30 GWh of data center-related projects globally as of May 2026. Yesterday, Fluence also announced an agreement with Vattenfall for a battery storage project in Germany with more than 1 GWh of capacity, scheduled to become operational by the end of 2028. 

Bloom Energy Corporation (BE - Free Report) competes in the broader AI data center power market through its fuel cell technology, which generates electricity onsite rather than storing electricity for later use. Its expanded partnership with MiTAC Computing in August 2026 will deploy fuel cell systems at an AI server manufacturing campus in Fremont, CA. It also announced yesterday that American Electric Power plans to invest approximately $4 billion in a 702-megawatt fuel cell project using Bloom's technology to supply Google under a 20-year power purchase agreement.  

The Zacks Rundown for TeslaShares of TSLA are down 14.3% in a year against its industry's 1.1% fall.

Image Source: Zacks Investment Research

Tesla is currently trading at a forward 12-month price-to-sales of 12.53X, higher than the industry’s average of 3.34X. It carries a Value Score of F.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for TSLA for 2026 earnings implies year-over-year growth of 1.2%.

Image Source: Zacks Investment Research

The consensus estimate for EPS for fiscal 2026 has moved southward over the past 60 days.

Image Source: Zacks Investment Research

TSLA currently has a Zacks Rank of #4 (Sell).

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

Considering its total growth in the current century is at a relatively modest 218% – for comparison, the S&P 500 benchmark index is up over 490% within the timeframe – Coca-Cola (NYSE: KO) stock has been one of the most surprising top performers of 2026.

Indeed, after starting the year at $69.12, KO shares rallied 32.78% by the Wednesday, October 14, close at $91.78 – the S&P 500 is up 12.55% year-to-date (YTD).

If the Thursday pre-market rally to $93.19 is taken into account, the soft drink giant’s YTD gains extend to 34.82%, putting it just $6.81 short of $100.

Why the October 27 earnings can decide if KO stock hits $100 by 2027 While such momentum appears to strongly indicate that Coca-Cola shares can hit the psychological threshold by 2027, the deciding moment is likely to come only in late October.

Specifically, a key driver behind KO stock’s strong 2026 performance has been its ability to beat analyst forecasts and, perhaps somewhat counterintuitively, reverse the weakness prevalent through much of 2025.

For example, Coca-Cola’s earnings report covering the quarter that ended on December 31 last year showed revenue at $11.82 billion – significantly below the analyst forecast of $12.03 billion.

The subsequent filing – covering the first calendar quarter (Q1) of 2026 – discloses sales amounting to $12.47 billion – $650 million higher than in the preceding period and $230 million higher than the expected $12.24 billion.

Coca-Cola’s performance in Q2 proved even better, with revenue reaching $13.38 billion – once again, $220 million higher than was forecasted – for a $1.56 billion increase in just six months.

Under the circumstances, the October 27 Q3 filing could make or break KO stock’s performance for the final two months of 2026. 

Here’s how Coca-Cola stock performed after each 2026 earnings report KO shares were 0.22% lower one month after the Q4 earnings – published in the February 10 pre-market – and 0.86% higher two months later. 

The situation was noticeably different following the Q2 filing – made early on July 28 – with a 5.94% rally within a month, and gains then diminished to 3.75% by the Monday, September 28, closing bell.

Finally, the Q1 2026 report led to a surge greater than 8% within the first month, and roughly 9.50% by the end of the second. 

The importance of the October 27 earnings report for Coca-Cola stock’s year-end price can also be seen in the fact that the latest KO rally – started after hitting support on October 7 and leading to 6.94% gains by the latest close  – came in the form of quarterly outlook revisions and the strategic decision to sell Costa Coffee.

Featured image via Shutterstock

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