HAMILTON, Bermuda and LONDON, July 01, 2026 (GLOBE NEWSWIRE) -- Marex Group Limited (NASDAQ: MRX), the diversified global financial services platform, today announced the completion of its redomiciliation to Bermuda from England and Wales, which took effect from 08:41am London time on July 1, 2026.
This follows shareholders voting in favor of the redomiciliation at the shareholder meetings held on May 21, 2026, receipt of global regulatory approvals and, lastly, the sanction of the scheme of arrangement implementing the redomicile by the English High Court on June 26, 2026.
Ian Lowitt, Marex Chief Executive Officer, commented: “We’re very pleased to have completed the redomiciliation to Bermuda. Our corporate structure and regulatory framework had become complex due to our significant growth in recent years, including through acquisitions. This move is expected to rationalize our corporate structure and regulatory framework, deliver cost savings and efficiencies and brings us under the US style corporate law of Bermuda, which aligns with our listing on Nasdaq.”
Forward-looking statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding the expected benefits from the redomiciliation. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “would,” “is/are likely to” or other similar expressions.
These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the risks discussed under the caption “Risk Factors” in our Annual Report on Form 20-F for the year-ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) and our other reports filed with the SEC. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.
About Marex:
Marex Group plc (NASDAQ:MRX) provides market access, infrastructure services and essential liquidity to clients across global commodity and financial markets. The Group provides comprehensive breadth and depth of coverage across four services: Clearing, Agency and Execution, Market Making and Hedging and Investment Solutions. It has a leading franchise in many major metals, energy and agricultural products, with access to more than 60 exchanges. Marex has over 3,400 active clients, including some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers. With more than 50 offices worldwide, the Group has over 3000 employees across Europe, Asia and the Americas. For more information visit www.marex.com.
DOE schválilo finální bezpečnostní analýzu pro Groves Isotope Test Reactor od Oklo, což posouvá projekt do závěrečné fáze před spuštěním. Firma míří k první kritičnosti v červenci 2026.
U.S. Department of Energy Approves Final Safety Analysis for Oklo's Groves Isotope Test Reactor, Advancing the Project Toward Operational Authorization Oklo Inc. (NYSE: OKLO) (“Oklo”), an advanced nuclear technology company, today announced that the U.S. Department of Energy (DOE) has approved the Documented Safety Analysis (DSA) for Oklo Isotopes’ Groves Isotope Test Reactor in Texas under DOE’s Reactor Pilot Program (RPP).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701843499/en/
Oklo's Isotopes Test Reactor (Image: Oklo)
The DSA is the facility’s final safety basis grounded on a detailed technical analysis of potential hazards, safety controls, and operating requirements needed to support safe startup. The DSA approval follows DOE’s approval of the Preliminary Documented Safety Analysis (PDSA), which established the facility’s preliminary safety basis during design and construction.
With both the PDSA and DSA approved, Groves moves from the documentation phase into DOE’s final pre-startup review. The remaining steps are DOE’s readiness review and startup approval. Following startup approval, the facility will be authorized to receive and load nuclear fuel, conduct startup testing, and proceed toward first criticality, the point at which a reactor achieves a controlled, self-sustaining nuclear chain reaction. Oklo is targeting first criticality for Groves in July 2026.
“When the Administration issued its Executive Order calling for multiple advanced reactors to go critical outside the national laboratories, it challenged the industry to demonstrate a new way forward,” said Oklo co-founder and CEO Jacob DeWitte. “Groves is that demonstration. It is the first advanced reactor project to receive approval of its Documented Safety Analysis that is on privately owned land, with wholly commercially sourced fuel, equipment, and systems delivered by the private sector. And with full, enduring civil construction, and operations led entirely by a private-sector team under DOE oversight. This is a truly representative facility of future commercial facilities that Oklo intends to build and operate.”
“With approval of both the Preliminary and Documented Safety Analyses, Groves now moves into the final phase before startup, including readiness review, fuel loading, and criticality,” DeWitte added. “Less than a year after breaking ground, Groves is advancing toward criticality and demonstrating that advanced nuclear can move from an open field to deployment on a commercial timeline and with a commercially representative facility. DOE demonstrated remarkable capabilities to review and reach this milestone for a facility of this type, and for a facility outside of a national laboratory on this timescale. As the first project of this nature to achieve this milestone under the DOE Reactor Pilot Program, Groves provides a blueprint for how the United States can accelerate advanced reactor deployment while maintaining a rigorous, practical safety process.”
Groves supports the development of Oklo’s isotope business and helps establish a stronger domestic supply chain for critical isotopes used in cancer diagnosis and treatment, advanced manufacturing, scientific research, space exploration, and national security applications. Many important isotopes are currently sourced from overseas suppliers or produced in aging facilities, creating supply risks for U.S. hospitals, industry, researchers, and government users.
By starting with a pilot facility, Oklo’s isotopes business has developed operating procedures, evaluated reactor system performance, will validate production processes, and build dependable domestic isotope production at commercial scale in the US.
About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, affordable energy at global scale; establishing a domestic supply chain for critical isotopes; and advancing nuclear fuel recycling to convert used nuclear fuel into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. National Laboratories.
Forward-Looking Statements
This press release includes statements that express Oklo’s opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.” The words “may,” “will,” “could,” “should,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continue,” “might,” “possible,” “potential,” “predict,” “project,” “goal,” “would,” “commit,” or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo operates. Such forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties.
As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Oklo’s future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the development and deployment of Oklo’s powerhouses, fuel fabrication and fuel recycling facilities, and radioisotope production activities; the risk that Oklo is pursuing an emerging market with no commercial project operating and regulatory uncertainties; risks related to acquisitions, divestitures, or joint ventures we may engage in; the need for financing to construct plants, which remain subject to market, financial, political, and legal conditions; risks related to an inability to raise additional capital to support our business and sustain our growth on favorable terms; the effects of competition; risks related to accessing high-assay low-enriched uranium, plutonium, and other fuels (including recycled fuels) at acceptable costs and under acceptable timelines; risks related to our supply chain; risks related to power purchase agreements; risks related to human capital; risks related to our intellectual property; risks related to cybersecurity and data privacy; changes in applicable laws or regulations, including tariffs; the outcome of any government and regulatory proceedings and investigations and inquiries; and the other factors set forth in our documents we have filed with the U.S. Securities and Exchange Commission (the “SEC”).
The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the SEC. The forward-looking statements contained in this press release are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this presentation, except as may be required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260701843499/en/
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Getty Images zrušila plánovanou fúzi se Shutterstockem za 3,7 miliardy USD po požadavku britského regulátora na odprodej editorial divize. Akcie Shutterstocku v premarketu spadly o více než 30 %.
Shutterstock SSTK shares plunged more than 30% in premarket trading on Wednesday after Getty Images abandoned its planned $3.7 billion merger with the company, ending a deal that was expected to create one of the world's largest licensed visual content providers.
Getty Images shares were also lower, falling more than 5% in premarket trading following the announcement.
The companies said the merger was terminated after Britain's Competition and Markets Authority (CMA) required Shutterstock to divest its editorial business as a condition for approving the transaction.
Getty and Shutterstock first announced the all-stock merger in January last year, positioning the combination as a way to strengthen their businesses amid rapid changes brought about by generative artificial intelligence.
The CMA granted conditional approval in May but required Shutterstock to sell its editorial division after concluding that the combined company would reduce competition in supplying editorial images to UK media organizations.
The regulator said Shutterstock was one of the few meaningful competitors to Getty in the editorial content market and warned that the merger could reduce customer choice and ultimately lead to higher prices.
Getty said in a regulatory filing on Tuesday that it would officially terminate the merger after the extended July 6 deadline.
The company also said it plans to redeem its 10.5% senior secured notes due in 2030 and retain a financial adviser to evaluate strategic financing alternatives.
Getty, which competes with Reuters and The Associated Press in supplying editorial photographs and videos, said its board would also explore broader financing options.
The merger had been pitched as a way to generate annual operating and capital expense savings of between $150 million and $200 million while strengthening the companies' ability to compete with technology firms developing AI-powered image generation tools.
The combined company was expected to have greater scale to respond to rapid changes in the visual content industry as artificial intelligence increasingly transforms how images are created.
However, analysts questioned whether the merger would have been enough to offset the structural challenges facing the sector.
"We are not convinced that scale would have done more than stave off competitive pressures for a little while longer, but without the scale that the merger would bring, the outlook for each looks even more difficult," said Luke Stillman, managing director at trend advisory firm Madison and Wall.
Both companies have faced growing competition from AI image generators that allow users to create visual content more cheaply and quickly than purchasing licensed images.
The failed merger comes at a difficult time for Shutterstock.
In April, the company missed Wall Street's first-quarter revenue expectations after sales fell 17.9% year over year to $199.2 million, reflecting weaker new customer acquisition.
Investor sentiment had improved earlier this month after Getty announced a display agreement with OpenAI, allowing Getty Images' content to be displayed within ChatGPT to enhance visual responses.
The partnership lifted Shutterstock shares by around 20% on expectations that closer ties between Getty and OpenAI could ultimately benefit the planned merger.
Shutterstock shares tumble after Getty Images abandons its $3.7 billion merger following UK antitrust demands to divest Shutterstock's editorial business.
INCHEON, Korea--(BUSINESS WIRE)--Samsung Bioepis Co., Ltd. today announced the relaunch of BYOOVIZ® (ranibizumab-nuna) in the United States (US), in partnership with Harrow (Nasdaq: HROW). Harrow became responsible for commercialization of BYOOVIZ® (ranibizumab-nuna), a biosimilar referencing LUCENTIS1 (ranibizumab), and OPUVIZ™ (aflibercept-yszy), a biosimilar referencing EYLEA2 (aflibercept), upon full transition of commercialization rights from Biogen back to Samsung Bioepis by the end of 2025.
Today marks an exciting new chapter for BYOOVIZ in the US. As the first FDA-approved biosimilar to Lucentis, BYOOVIZ has already demonstrated its value in expanding access to critical retinal disease treatments.
Share BYOOVIZ was approved by the U.S. Food and Drug Administration (FDA) in September 2021 as the first ophthalmology biosimilar in the US for the treatment of patients with Neovascular (Wet) Age-Related Macular Degeneration (AMD), Macular Edema following Retinal Vein Occlusion (RVO), and Myopic Choroidal Neovascularization (mCNV).3 BYOOVIZ was granted interchangeability designation by the FDA in October 2023.4
Wet AMD affects approximately 1.2% to 1.3% of adults aged 65 and older in the US, with 1.5 million Americans living with the late, vision-threatening stages of the disease.5,6 Over the past two decades, anti-VEGF therapy has become a standard treatment for wet AMD.7 However, cost remains a significant financial burden for ranibizumab and other anti-VEGF treatments in the US.8 Biosimilars are biological products that are highly similar to existing FDA-approved reference products with no clinically meaningful differences in safety, purity, or potency and have the potential to alleviate the financial burden associated with current anti-VEGF therapies.9
“Today marks an exciting new chapter for BYOOVIZ in the US. As the first FDA-approved biosimilar to Lucentis, BYOOVIZ has already demonstrated its value in expanding access to critical retinal disease treatments. With Harrow now leading commercialization efforts, we are reigniting our commitment to ensuring patients and retina specialists across America to have access to this quality-proven, safe and effective biosimilar option,” said Linda Choi MacDonald, Executive Vice President and Global Head of Commercial, Samsung Bioepis. “We believe this relaunch will ultimately help more patients with critical ophthalmic diseases to receive the vision-saving treatments they need.”
In July 2025, Samsung Bioepis entered into partnership with Harrow for commercialization of BYOOVIZ and OPUVIZ in the US. Samsung Bioepis is responsible for development, regulatory registration, and manufacture of the products, while Harrow is responsible for commercialization.
BYOOVIZ was also approved as the first ophthalmology biosimilar by the European Commission and the United Kingdom in August 2021, and in Canada in March 2022. In Europe, Samsung Bioepis is responsible for direct commercialization of BYOOVIZ.
About BYOOVIZ (ranibizumab-nuna)
BYOOVIZ (ranibizumab-nuna) injection, for intravitreal use.
BYOOVIZ (ranibizumab-nuna) is an interchangeable biosimilar to LUCENTIS (ranibizumab injection).
BYOOVIZ, a vascular endothelial growth factor (VEGF) inhibitor, is indicated for the treatment of patients with:
Neovascular (Wet) Age-Related Macular Degeneration (AMD)
Macular Edema Following Retinal Vein Occlusion (RVO)
Myopic Choroidal Neovascularization (mCNV)
Select Important Safety Information
WARNING AND PRECAUTIONS
Endophthalmitis and retinal detachments may occur following intravitreal injections. Patients should be monitored following the injection.
Increases in intraocular pressure (IOP) have been noted both pre- and post-intravitreal injection.
There is a potential risk of arterial thromboembolic events following intravitreal use of VEGF inhibitors.
ADVERSE REACTIONS
The most common adverse reactions (reported more frequently in ranibizumab treated subjects than control subjects) are conjunctival hemorrhage, eye pain, vitreous floaters, and increased IOP.
Please see Prescribing Information for BYOOVIZ (ranibizumab-nuna) HERE.
About OPUVIZ (aflibercept-yszy)
OPUVIZ (aflibercept-yszy) injection, for intravitreal use.
OPUVIZ (aflibercept-yszy) is an interchangeable biosimilar to EYLEA (aflibercept).
OPUVIZ is a vascular endothelial growth factor (VEGF) inhibitor, indicated for the treatment of patients with:
Neovascular (Wet) Age-Related Macular Degeneration (AMD)
Macular Edema Following Retinal Vein Occlusion (RVO)
Diabetic Macular Edema (DME)
Diabetic Retinopathy (DR)
Select Important Safety Information
WARNING AND PRECAUTIONS
Endophthalmitis, retinal detachments, and retinal vasculitis with or without occlusion may occur following intravitreal injections. Patients and/or caregivers should be instructed to report any signs and/or symptoms suggestive of endophthalmitis, retinal detachment, or retinal vasculitis without delay and should be managed appropriately.
Increases in intraocular pressure have been seen within 60 minutes of an intravitreal injection.
There is a potential risk of arterial thromboembolic events following intravitreal use of VEGF inhibitors.
ADVERSE REACTIONS
The most common adverse reactions (≥5%) reported in patients receiving aflibercept were conjunctival hemorrhage, eye pain, cataract, vitreous detachment, vitreous floaters, and intraocular pressure increased.
Please see Prescribing Information for OPUVIZ (aflibercept-yszy) HERE.
DISCLAIMER
This press release is intended solely for the purpose of sharing the availability of BYOOVIZ in the US. This document should not be construed as medical advice or as an endorsement of any product or treatment. Regulatory approval status and prescribing information may vary by country; please refer to local product information for any medicinal products mentioned herein. Information in this press release may include data on investigational compounds or unapproved indications. Such information is shared for scientific discussion purposes only and does not represent an assertion of safety or efficacy for any unapproved use.
This press release may contain forward-looking statements, including statements regarding clinical development programs, regulatory submissions, potential approvals, and future therapeutic potential. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Forward-looking statements are not guarantees of future performance. Samsung Bioepis undertakes no obligation to update any forward-looking statements contained in this press release.
About Samsung Bioepis Co., Ltd.
Established in 2012, Samsung Bioepis is a biopharmaceutical company committed to realizing healthcare that is accessible to everyone. Through innovations in product development and a firm commitment to quality, Samsung Bioepis aims to become the world's leading biopharmaceutical company. As a wholly owned subsidiary of Samsung Epis Holdings, Samsung Bioepis continues to advance a broad pipeline of biologic candidates that cover a spectrum of therapeutic areas, including immunology, oncology, ophthalmology, hematology, nephrology, endocrinology and neurology. For more information, please visit www.samsungbioepis.com and follow us on LinkedIn and X.
About Harrow
Harrow, Inc. (Nasdaq: HROW) is a leading provider of ophthalmic disease management solutions in North America, offering a comprehensive portfolio of products that address conditions affecting both the front and back of the eye, such as dry eye disease, wet (or neovascular) age-related macular degeneration, cataracts, refractive errors, glaucoma and a range of other ocular surface conditions and diseases of the retina. Harrow was founded with a commitment to deliver safe, effective, accessible, and affordable medications that enhance patient compliance and improve clinical outcomes. For more information about Harrow, please visit harrow.com and connect with us on LinkedIn.
1 Lucentis is a trademark of Genentech, Inc.
2 Eylea is a trademark of Regeneron Pharmaceuticals, Inc.
3 U.S. Food and Drug Administration. FDA Approves First Biosimilar to Treat Macular Degeneration Disease and Other Eye Conditions. Press Release. Sep 20, 2021. Available at: https://www.prnewswire.com/news-releases/fda-approves-first-biosimilar-to-treat-macular-degeneration-disease-and-other-eye-conditions-301380552.html (Accessed June 2026)
4 U.S. Food and Drug Administration. Supplement Approval for Byooviz (ranibizumab-nuna) injection 0.5 mg (10 mg/mL) for intravitreal injection (BLA 761202/S-006). Available at: https://www.accessdata.fda.gov/drugsatfda_docs/appletter/2023/761202Orig1s006ltr.pdf (Accessed June 2026)
5 Saundankar V, Borns M, Broderick K, Shah B, Cowburn S, McFadden S, Suehs B. Annual prevalence of geographic atrophy and wet age-related macular degeneration among Medicare Advantage enrollees in a US health plan. J Manag Care Spec Pharm. 2025 Jan;31(1):88-94. doi: 10.18553/jmcp.2025.31.1.88. PMID: 39745845; PMCID: PMC11695844.
6 Center for Disease Control and Prevention. Vision and Eye Health Surveillance System. VEHSS Modeled Estimates: Age-Related Macular Degeneration (AMD). Available at: https://www.cdc.gov/vision-health-data/prevalence-estimates/amd-prevalence.html (Accessed June 2026)
7 Kovach JL, Schwartz SG, Flynn HW Jr, Scott IU. Anti-VEGF Treatment Strategies for Wet AMD. J Ophthalmol. 2012;2012:786870. doi: 10.1155/2012/786870. Epub 2012 Feb 28. PMID: 22523653; PMCID: PMC3317200.
8 Tabano D, Watane A, Gale R, Cox O, Hill SR, Longworth L, Oluboyede Y, Ahmed A, Patel NA. The Economic Burden of Anti-Vascular Endothelial Growth Factor on Patients and Caregivers in the UK, Europe, and North America. Ophthalmol Ther. 2025 Aug;14(8):1869-1892. doi: 10.1007/s40123-025-01180-5. Epub 2025 Jun 28. PMID: 40580375; PMCID: PMC12270987.
9 U.S. Food and Drug Administration. Biosimilars: Overview for Health Care Professionals. Available at: https://www.fda.gov/drugs/biosimilars/overview-health-care-professionals (Accessed June 2026)
Švédský soud nařídil Googlu zaplatit společnosti PriceRunner zhruba 14,3 miliardy švédských korun, tedy 1,5 miliardy USD, jako náhradu škody za porušení antimonopolních pravidel. Soud uvedl, že Google léta neoprávněně zvýhodňoval vlastní srovnávač cen.
The Google logo is pictured at the entrance to the Google offices in London, Britain January 18, 2019. REUTERS/Hannah McKay/File Photo/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniestheSTOCKHOLM, July 1 (Reuters) - A Swedish court said on Wednesday Alphabet's Google (GOOGL.O), opens new tab is to pay the equivalent of around 14.3 billion Swedish crowns ($1.5 billion) in antitrust damages to Klarna's (KLAR.N), opens new tab price comparison company PriceRunner.
"PriceRunner is considered to have suffered damage as a result of Google having illegally favoured its price comparison service for many years," the Stockholm Patent and Market Court said in a statement.
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PriceRunner in 2022 sued Google for around €2.1 billion ($2.4 billion) at the court, saying the company breached antitrust laws by manipulating search results in favour of its own comparison shopping services.
($1 = 9.7291 Swedish crowns)
($1 = 0.8775 euros)
Reporting by Anna Ringstrom, editing by Essi Lehto
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Na Microsoft byla podána hromadná žaloba kvůli údajnému klamání investorů ohledně Azure a Copilotu. Akcie po slabých výsledcích a zpomalení růstu Azure klesly o 10 %.
NEW YORK, July 01, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Microsoft Corporation (NASDAQ:MSFT) and certain of the Company’s senior executives for securities fraud after its significant stock drop resulting from potential violations of the federal securities laws.
If you invested in Microsoft, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/microsoft-class-action-lawsuit.
Key Details of the Microsoft ($MSFT) Class Action:
Lead Plaintiff Deadline: August 11, 2026Alleged Misconduct: Securities fraud alleging that Microsoft misled investors regarding its Azure cloud computing platform and AI chatbot CopilotStock Drop: January 28, 2026 – 10% Stock DropCourt: U.S. District Court for the Western District of WashingtonAction: Contact BFA Law to discuss your rights Investors have until August 11, 2026 to ask the Court to be appointed to lead the case. The complaint asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Microsoft common stock. The class action is pending in the U.S. District Court for the Western District of Washington. It is captioned City of St. Clair Shores Police and Fire Retirement System, et al., No. 26-cv-02071.
Why is Microsoft Being Sued for Securities Fraud?
Microsoft is a multinational technology company that develops software, cloud services, and devices. In recent years, Microsoft’s cloud computing platform named Azure has been Microsoft’s main growth driver. A key reason for Azure’s recent growth is Microsoft’s multi-billion-dollar investment into AI, including the development of its own generative AI chatbot named Copilot.
According to the complaint, during the relevant period, Microsoft consistently touted Copilot’s best-in-class capabilities, which purportedly drove widespread and growing user adoption. Copilot’s apparent success allowed Microsoft to report surging Azure-related revenue.
As alleged, in truth, Copilot suffered from severe functionality issues that caused user adoption to decline and put Microsoft’s Azure revenue at risk.
Why did Microsoft’s Stock Drop?
On January 28, 2026, Microsoft announced disappointing 2Q 2026 financial results and that Azure growth had slowed suddenly. Microsoft also allegedly revealed for the first time that the number of Microsoft 365 Copilot premium customers totaled only 15 million, materially below analyst estimates.
This news caused the price of Microsoft common stock to decline $48.13 per share, or 10%, from $481.63 per share on January 28, 2026, to $433.50 per share on January 29, 2026.
Additionally, on February 3, 2026, The Wall Street Journal reported in an article titled “Microsoft’s Pivotal AI Product Is Running Into Big Problems” that severe challenges and functionality issues had plagued Copilot, causing the application to lose market share. Specifically, The Wall Street Journal reported that “[c]onfusing brand positioning and interoperability problems have frustrated users.”
Click here for more information: https://www.bfalaw.com/cases/microsoft-class-action-lawsuit.
What Can You Do?
If you invested in Microsoft, you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters.
Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm, with clients noting: “[t]here is no better service provider in the practice area,” “[t]he interest of the client is always front and center,” and “[t]here isn’t a better firm in this space.” One testimonial described the firm as “nimble and entrepreneurial,” with a “relentless focus on adding value for clients.”
Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
Citigroup Inc. (NYSE:C) will release earnings for its second quarter before the opening bell on Tuesday, July 14.
Analysts expect the New York-based company to report quarterly earnings of $2.64 per share, up from $2.04 per share in the year-ago period. The consensus estimate for Citigroup’s quarterly revenue is $23.37 billion. It reported $21.67 billion last year, according to Benzinga Pro.
On June 4, Citigroup announced $2.75 billion redemption of 1.462% fixed rate/floating rate notes due 2027 and $400 million redemption of floating rate notes due 2027.
Shares of Citigroup fell 1.8% to close at $139.96 on Tuesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Considering buying C stock? Here’s what analysts think:
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Market News and Data brought to you by Benzinga APIs
Nike shares fell 4% in premarket trading on Wednesday after the sportswear giant's latest quarterly results failed to convince investors that its turnaround under Chief Executive Officer Elliott Hill is gathering pace.
Although Nike topped Wall Street expectations for both earnings and revenue, a cautious outlook for the coming quarters, persistent weakness in China and continued uncertainty around consumer demand overshadowed the better-than-expected performance.
The company's results also weighed on European sportswear stocks, with Adidas and Puma both falling more than 1% in early trading.
Nike shares have already declined around 35% this year as investors grow increasingly concerned about the pace of the company's recovery amid rising competition and shifting consumer preferences.
Nike reported fiscal fourth-quarter earnings of 20 cents a share, excluding a 52-cent benefit related to the expected recovery of import tariffs.
Revenue declined 1.1% from a year earlier to $11 billion.
Analysts polled by LSEG had expected earnings of 12 cents per share on revenue of $10.9 billion.
Despite the earnings beat, investors focused on management's guidance that sales are expected to continue declining through the first half of fiscal 2027 as the company navigates tariff pressures, geopolitical uncertainty and cautious consumer spending.
Nike now expects revenue to decline by low- to mid-single digits during the period from March through November, compared with its earlier forecast for a low-single-digit decline.
The company also continues to expect earnings to remain largely flat over the same period.
"We are not expecting the environment to improve meaningfully over the next six months," Chief Financial Officer Matthew Friend said during the earnings call, citing evolving tariff policies, conflict in the Middle East and oil prices as factors that could pressure both costs and consumer demand.
Given the uncertain backdrop, Nike plans to tighten inventory and reduce orders, a strategy management believes will support margins but weigh on near-term revenue.
Despite the muted outlook, some analysts said Nike's renewed focus on sports is beginning to deliver encouraging signs.
Jefferies analysts said the company's fiscal fourth-quarter results were better than feared.
"Nike's emphasis on its sports business is showing early signs of paying off, though performance in China remains a drag on the company," the brokerage wrote.
According to Jefferies, Elliott Hill's "sport offense" strategy has helped return Nike's wholesale business to growth, validating the company's renewed emphasis on performance categories.
However, analysts said continued weakness in Nike's direct-to-consumer business, including its retail stores and digital platform, remains a significant challenge.
Nike has spent the past two years rebuilding relationships with wholesale partners while attempting to reduce excess lifestyle inventory that had weighed on sales and margins.
The company also pointed to early progress in several areas, including stronger World Cup marketing campaigns, faster product launches and improving football demand after a slowdown in April.
Management forecast a slightly positive gross margin during the first quarter and said more than a dozen new footwear styles are scheduled for launch as part of the company's product refresh.
CEO Elliott Hill acknowledged that rebuilding consumer demand will take time.
"We know we're not living up to our full potential," he said.
China remains one of Nike's biggest obstacles.
Revenue in Greater China, which accounts for roughly 15% of Nike's annual sales and is its third-largest market after North America and Europe, the Middle East and Africa, continued to post double-digit declines during the quarter.
Outgoing finance chief Matthew Friend said the company expects China to remain under pressure as Nike works with retail partners to clear excess inventory.
Some analysts said the restructuring effort is beginning to show signs of progress but warned that meaningful sales growth is unlikely until the inventory reset is complete.
Nike is pursuing a more premium, sports-focused strategy in China, although analysts expect the benefits of that approach to emerge gradually rather than immediately.
Hill said the company expects newly launched footwear products to contribute more meaningfully to growth during 2027 as the broader product pipeline gains traction.
Analysts remain divided over how quickly Nike can regain lost market share.
Bernstein said the company's decision to prioritise marketplace health over short-term revenue growth is strategically sound but likely to delay any meaningful earnings recovery.
"Revenue declines through H1 mean no earnings growth until at least H2'27 as Nike prioritizes marketplace health over near-term sales — a good decision for the company but not for rapid recovery of the stock," Bernstein analysts said.
Nike has struggled to regain momentum after losing customers to newer athletic brands while also dealing with softer consumer demand globally.
In March, management acknowledged that efforts to revive growth were taking longer than expected despite improving trends in North America, particularly in running and football footwear.
Some analysts, however, remain unconvinced that Nike's latest product launches have resonated strongly enough with consumers.
The company's digital business has also remained under pressure as Nike attempts to reposition the platform around higher-priced products rather than relying on discounting.
The prolonged decline in Nike's share price has also prompted speculation that the stock could eventually lose its place in the Dow Jones Industrial Average.
Wall Street has become increasingly cautious in recent weeks.
KeyBanc Capital Markets downgraded the stock last week, saying investors may have to wait until Nike's investor day later this year before gaining greater confidence in the company's long-term turnaround strategy.
Even after Wednesday's decline, Nike trades at a forward price-to-earnings multiple of about 21.95, above Adidas' multiple of 16.81, according to LSEG data, suggesting investors continue to price in a recovery that has yet to fully materialise.
Moderna po Science Day vzrostla téměř o 20 % díky nové strategii mRNA pro léčbu rakoviny a vzácných nemocí. Růst podle článku podpořil short squeeze, když před akcí byl short interest přes 16,5 % a shortaři potřebovali více než 10 dnů na pokrytí svých pozic.
Shares of Moderna NASDAQ: MRNA are behaving like it's 2020. The stock is up nearly 20% since the company’s Science Day event.
At that time, Moderna revealed its strategy for using mRNA to combat cancer and rare diseases. It’s a move beyond vaccines, and investors seem to like it.
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Looks, however, can be deceiving. Prior to the event, MRNA had short interest of over 16.5% which required over 10 days for short sellers to cover their positions.
The result? A classic short squeeze that has sent the stock to nearly double its consensus price target of around $37 as of June 30.
However, the price movement by itself isn’t disqualifying. The expansion of mRNA as a treatment for diseases is where the promise has always been. Therefore, investors are left with a decision ahead of its Q2 2026 earnings report, scheduled for July 30.
Why mRNA Still MattersThe promise of mRNA is that it changes how medicine gets made. Traditional drugs are manufactured in factories and injected into the body. mRNA medicines work differently. They deliver genetic instructions, and the body's own cells produce the protein needed to treat the disease.
That matters for two reasons. The same platform can be reprogrammed for different diseases by changing only the instructions. And that flexibility could make drug development faster and more efficient over time.
COVID-19 vaccines proved the platform works in infectious disease. The question Moderna is now trying to answer is whether the same approach can deliver meaningful results for cancer, autoimmune diseases, and rare diseases.
If the answer is yes, the platform becomes far more valuable than its vaccine franchise alone. That's the long-term story driving the recent move.
3 Horizons, 1 Long RunwayAt Science Day, Moderna organized its business into three "Horizons" that map how the platform scales over time.
Horizon 1 is Moderna’s commercial engine. It includes four approved vaccines (Spikevax, mRESVIA, mNEXSPIKE, and mCOMBRIAX), the investigational intismeran autogene cancer therapy, and a rare disease franchise led by a propionic acidemia treatment. This accounts for the bulk of the company’s current revenue.
Horizon 2 is the next wave. T-cell engagers targeting multiple myeloma and ovarian cancer, cancer antigen therapies for solid tumors and Lynch syndrome, and a multiple sclerosis therapeutic linked to the Epstein-Barr virus. Most are in Phase 1 or Phase 2 trials. The earliest meaningful readout is mRNA-1195 for multiple sclerosis, which is expected in the second half of 2026.
Horizon 3 is the long-term bet. The headline asset is mRNA-6007, an in vivo CAR-T therapy aimed at lupus. Moderna expects this to enter human trials by the end of 2027.
That’s a whole lot of potential. However, none of Horizon 2 or Horizon 3 will generate revenue until after 2028. Phase 1 and Phase 2 readouts are clinical milestones, not commercial ones. The path from trial to approval to launch takes years.
Why Caution Is WarrantedOn June 26, the day after Moderna’s Science Day event, Piper Sandler reiterated its Overweight rating on MRNA and raised its price target to $77 from $69. Even at the former price target, Piper Sandler was already one of the most bullish analysts.
It’s important to note, however, that the new price target doesn’t leave much upside for MRNA after its recent gains. Analysts may be holding off on issuing opinions until the company’s earnings report, especially since there won’t be any revenue or earnings from these new initiatives for several years.
That puts the entire burden on Horizon 1. The four approved vaccines, the intismeran Phase 3 program, and disciplined cash management have to fund the pipeline long enough for the platform story to pay off.
That’s why long-term investors who aren’t in the stock should wait for a better entry point. It’s also a reason for current shareholders to take some risk off the table.
Where the Squeeze Logically Gives BackThe most likely first pullback level is $60. It's a round-number psychological level and represents a healthy give-back of about half the move off the mid-June breakout. Pullbacks of that size are normal after a sharp rally; they are normal profit-taking and leave the bullish structure intact. Anyone trimming into the squeeze would look to add back near this level.
The deeper, higher-conviction support is $55. That was the top of the April-to-June trading range, and the launch point of the Science Day breakout candle. Prior resistance becomes new support, and this is where the squeeze froth fully resets without breaking the thesis.
The line in the sand is $52, where the 50-day SMA sits at $51.83. A close below that level would mean the breakout has failed, and the stock has fallen back into the range it traded in before Science Day. At that point, the platform re-rate needs a fresh catalyst, such as the July 30 earnings report, to reassert itself.
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Nasdaq futures were down 0.54%, while S&P 500 futures slipped 0.31%, weighing on technology stocks ahead of the opening bell.
Intel appeared to be facing profit-taking after a strong rally that pushed the stock close to its 52-week high.
The stock has significantly outperformed the broader market over the past year. That leaves it vulnerable to short-term selling when investor sentiment weakens.
With shares trading well above their major moving averages, traders may also be locking in gains as the market shifts toward a more risk-off tone.
Intel Emerges as a Major AI WinnerCNBC reported that the three companies added roughly $2 trillion in combined market capitalization during the quarter, making them the 10th-, 11th- and 12th-most valuable U.S. technology companies. Intel shares surged 216% during the quarter, adding about $480 billion to the company’s market value.
Analysts See Rotation Into AI InfrastructureBarclays analyst Anshul Gupta told CNBC that investors rotated money out of AI hyperscalers and into companies supplying the hardware needed to build AI infrastructure.
That shift fueled sharp gains across semiconductor stocks as investors looked beyond AI chip leaders to companies positioned to benefit from rising data center investment.
Analysts told CNBC the rally could represent a “changing of the guard in AI,” with investors favoring companies that complement NVIDIA’s ecosystem rather than compete directly with it.
Cramer Says Intel Is His Favorite Tech WinnerCNBC’s Jim Cramer highlighted Intel as one of the standout technology performers of the second quarter, crediting CEO Lip-Bu Tan with transforming the company’s outlook.
Cramer called Intel his favorite stock among the quarter’s biggest technology winners.
He said investors are rewarding companies that produce technology in short supply while large technology customers continue spending aggressively to support AI expansion.
He identified three major growth drivers for Intel: its leadership in CPUs that power AI agents, its higher-margin chip packaging business, and its expanding foundry operations.
Cramer also said Intel could eventually help ease the industry’s memory shortage and described the company as “a national treasure.”
The stock is trading about 13% above its 20-day simple moving average of $121.79 and roughly 132% above its 200-day simple moving average of $59.34. The 20-day average remains above the 50-day average, while the 50-day average is above the 200-day average, a bullish alignment that often supports buy-the-dip activity.
Momentum indicators also remain constructive. The MACD is above its signal line, and the histogram remains positive, suggesting upward momentum continues even as the stock consolidates.
Traders are watching resistance near $141.50. A sustained move above that level could open the door to a test of the 52-week high of $142.35.
Earnings Remain the Next Key CatalystIntel is scheduled to report second-quarter earnings on July 23.
Analysts expect earnings of 19 cents per share, compared with a loss of 10 cents a year earlier. Revenue is projected to rise to $14.40 billion from $12.86 billion in the prior-year period.
Wall Street currently has a consensus Hold rating on the stock with an average price forecast of $88.63.
Recent analyst actions include Cantor Fitzgerald raising its price forecast to $150 while maintaining a Neutral rating on June 29, Goldman Sachs initiating coverage with a Neutral rating and a $150 price forecast on June 25, and Bank of America Securities raising its price forecast to $160 while reiterating a Buy rating on June 23.
Top ETF ExposureINTC Stock Price Activity: Intel shares were down 1.57% at $137.44 during premarket trading on Wednesday, according to Benzinga Pro data.
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General Mills oznámila za 4. čtvrtletí upravené výsledky v souladu s odhady, ale vykázala čistou ztrátu 2,0 miliardy USD kvůli odpisům goodwillu a značek. Tržby vzrostly o 1 % na 4,6 miliardy USD.
MINNEAPOLIS--(BUSINESS WIRE)--General Mills, Inc. (NYSE: GIS) today reported results for its fourth quarter and fiscal year ended May 31, 2026. Fiscal 2026 was a 53-week year, with the extra week falling in the fourth quarter.
“We finished fiscal 2026 on a positive note, delivering fourth-quarter adjusted results that met our expectations while continuing to strengthen our foundation to position General Mills for long-term success,” said General Mills Chairman and Chief Executive Officer Jeff Harmening. “With our price investment work behind us, our focus in fiscal 2027 is to improve our topline growth by driving a step change in the remarkability of our brands. This includes a significant increase in innovation and renovation centered on the benefits that matter most to today’s consumers.
“At the same time, we are laser focused on increasing our efficiency to help offset elevated inflation, fund our growth investments, and generate stronger earnings and cash flow,” Harmening continued. “We’re targeting $3 billion in cumulative cost savings by fiscal 2030, primarily through our Holistic Margin Management productivity program and our global transformation initiative, with $750 million expected to be delivered in fiscal 2027.
“With plans to strengthen our remarkability and a sharp focus on efficiency and capital discipline, I’m confident we’re on the path to restoring profitable growth and driving shareholder value over the long term.”
Guided by its Accelerate strategy, General Mills is investing in its brands to restore profitable organic net sales growth, with initiatives that touch all elements of the company’s Remarkable Experience Framework: product, packaging, brand communication, omnichannel execution, and consumer value. With a stronger foundation of brand remarkability, General Mills believes it is better positioned to deliver stronger, more sustainable, and more profitable growth and value creation over the long term.
Fourth Quarter Results Summary
Net sales were up 1 percent to $4.6 billion, including a 7-point benefit from the 53rd week, a 1-point benefit from foreign currency exchange, and a 7-point headwind from the net impact of divestitures and acquisitions. Organic net sales were flat, including a 1-point benefit from favorable trade expense timing. Gross margin increased 240 basis points to 34.8 percent of net sales, driven by favorable net price realization and mix and favorable mark-to-market effects, partially offset by higher input costs. Adjusted gross margin increased 150 basis points to 34.2 percent of net sales, driven by favorable net price realization and mix, partially offset by higher input costs. Favorable trade expense timing was a 60-basis point benefit to adjusted gross margin in the quarter. Operating loss totaled $2.1 billion compared to operating profit of $504 million a year ago. The change in operating profit was due primarily to $1.8 billion in non-cash goodwill and brand intangible asset charges driven primarily by an increase in discount rates (please see Note 3 below for more information on these items) and a $1.0 billion non-cash pre-tax valuation loss related to the planned divestiture of the Brazil business (please see Note 2 below for more information on this item). Operating profit margin was (45.4) percent compared to 11.1 percent a year ago. Adjusted operating profit of $705 million was up 13 percent in constant currency, driven by higher adjusted gross profit dollars including a 7-point benefit from favorable trade expense timing. Adjusted operating profit margin increased 160 basis points to 15.3 percent. Net loss attributable to General Mills totaled $2.0 billion and diluted loss per share was $3.74 compared to net earnings of $294 million and diluted EPS of $0.53 last year, driven primarily by lower operating profit. Adjusted diluted EPS of $0.95 was up 27 percent in constant currency, driven primarily by higher adjusted operating profit, a lower adjusted effective tax rate, and lower net shares outstanding, partially offset by higher net interest expense. Full Year Results Summary
Net sales were down 5 percent to $18.4 billion, including a 6-point headwind from the net impact of divestitures and acquisitions, a 2-point benefit from the 53rd week, and a 1-point benefit from foreign currency exchange. Organic net sales were down 2 percent, due in part to weaker consumer sentiment and significant volatility that weighed on category volume growth and drove a higher share of consumer purchases on promotion. Gross margin was down 100 basis points to 33.6 percent of net sales and adjusted gross margin was down 100 basis points to 33.5 percent of net sales, both driven by higher input costs, partially offset by the favorable impact of net price realization and mix to gross margin, including the product mix benefit from the North American Yogurt divestitures. Operating profit of $886 million was down 73 percent, driven primarily by the goodwill and brand intangible asset charges, the valuation loss, and lower gross profit dollars in fiscal 2026, partially offset by a $1.0 billion gain on the yogurt divestitures (please see Note 2 for more information on this item). Operating profit margin was 4.8 percent compared to 17.0 percent a year ago. Adjusted operating profit of $2.8 billion was down 16 percent in constant currency, driven primarily by lower adjusted gross profit dollars. Adjusted operating profit margin was down 190 basis points to 15.3 percent. Net loss attributable to General Mills totaled $88 million and diluted loss per share was $0.16 compared to net earnings of $2.3 billion and diluted EPS of $4.10 a year ago, driven primarily by lower operating profit, a higher effective tax rate, and lower after-tax earnings from joint ventures, partially offset by lower net shares outstanding. Adjusted diluted EPS of $3.55 was down 16 percent in constant currency, driven primarily by lower adjusted operating profit. Operating Segment Results
The following items impacted the comparability of year-to-date financial results between fiscal 2025 and fiscal 2026: the divestiture of the U.S. Yogurt business in the first quarter of fiscal 2026, the 53rd week in the fourth quarter of fiscal 2026, the divestiture of the Canada Yogurt business in the third quarter of fiscal 2025, and the acquisition of the North American Whitebridge Pet Brands business in the third quarter of fiscal 2025. Tables may not foot due to rounding. Components of Fiscal 2026 Reported Net Sales Growth
Fourth Quarter
Volume
Price/Mix
Foreign
Exchange
Reported
Net Sales
North America Retail
(13) pts
9 pts
--
(4)%
North America Pet
1 pt
3 pts
--
4%
North America Foodservice
--
(1) pt
--
(1)%
International
8 pts
3 pts
5 pts
16%
Total
(4) pts
4 pts
1 pt
1%
Full Year
North America Retail
(16) pts
5 pts
--
(11)%
North America Pet
--
5 pts
--
6%
North America Foodservice
(4) pts
(2) pts
--
(6)%
International
3 pts
2 pts
4 pts
9%
Total
(8) pts
2 pts
1 pt
(5)%
Components of Fiscal 2026 Organic Net Sales Growth
Fourth Quarter
Organic
Volume
Organic
Price/Mix
Organic
Net Sales
Foreign
Exchange
Acquisitions & Divestitures
53rd Week
Reported
Net Sales
North America Retail
(2) pts
2 pts
Flat
--
(10) pts
7 pts
(4)%
North America Pet
(6) pts
3 pts
(3)%
--
--
7 pts
4%
North America Foodservice
(2) pts
2 pts
Flat
--
(7) pts
6 pts
(1)%
International
1 pt
2 pts
3%
5 pts
--
8 pts
16%
Total
(2) pts
2 pts
Flat
1 pt
(7) pts
7 pts
1%
Full Year
North America Retail
(1) pt
(2) pts
(3)%
--
(9) pts
1 pt
(11)%
North America Pet
(5) pts
2 pts
(3)%
--
6 pts
2 pts
6%
North America Foodservice
(2) pts
1 pt
(1)%
--
(7) pts
2 pts
(6)%
International
2 pts
1 pt
3%
4 pts
--
2 pts
9%
Total
(1) pt
(1) pt
(2)%
1 pt
(6) pts
2 pts
(5)%
Fiscal 2026 Segment Operating Profit Growth
Fourth Quarter
% Change
as Reported
% Change in
Constant Currency
North America Retail
7%
7%
North America Pet
14%
14%
North America Foodservice
22%
22%
International
81%
72%
Total
13%
13%
Full Year
North America Retail
(20)%
(20)%
North America Pet
Flat
Flat
North America Foodservice
(6)%
(6)%
International
96%
90%
Total
(13)%
(13)%
North America Retail Segment
Fourth-quarter net sales for General Mills’ North America Retail segment were down 4 percent to $2.5 billion, including a 10-point headwind from divestitures and a 7-point benefit from the 53rd week. Organic net sales essentially matched year-ago results while Nielsen-measured retail sales were down 4 percent, with the gap driven by a previously expected 2-point benefit from trade expense timing as well as a benefit from changes in retailer inventory. Segment operating profit of $506 million increased 7 percent as reported and in constant currency, driven by favorable net price realization and mix and lower selling, general, and administrative (SG&A) expenses, partially offset by lower volume, including the impact of the U.S. yogurt divestiture, and higher input costs. Favorable trade expense timing was a 9-point benefit to operating profit growth in the quarter.
For the full year, North America Retail segment net sales were down 11 percent to $10.6 billion, including a 9-point headwind from divestitures and a 1-point benefit from the 53rd week. Organic net sales were down 3 percent. Increased consumer value, innovation, and product news drove strong pound competitiveness, with the segment holding or gaining pound share in 65 percent of its top 10 U.S. categories. Segment operating profit of $2.2 billion was down 20 percent as reported and in constant currency, due primarily to lower volume, including the impact of the yogurt divestitures, and higher input costs, partially offset by favorable net price realization and mix and lower SG&A expenses.
North America Pet Segment
Fourth-quarter net sales for the North America Pet segment were up 4 percent to $702 million, including a 7-point benefit from the 53rd week. Net sales were up double digits for cat food, up low-single digits for dog food, and down low-single digits for pet treats. Organic net sales were down 3 percent and all-channel retail sales were down approximately 1 percent, with the 2-point gap driven largely by changes in retailer inventory. Segment operating profit of $160 million was up 14 percent as reported and in constant currency, driven primarily by favorable net price realization and mix and lower input costs, partially offset by higher SG&A expenses, including a double-digit increase in media investment.
For the full year, North America Pet segment net sales were up 6 percent to $2.6 billion, including a 6-point benefit from the North American Whitebridge Pet Brands acquisition and a 2-point benefit from the 53rd week. Organic net sales were down 3 percent and lagged all-channel retail sales growth by approximately 4 points. The segment held dollar share in dog feeding and cat feeding, which represented approximately 80 percent of its retail sales. Segment operating profit of $499 million essentially matched year-ago levels, with higher input costs and higher SG&A expenses, including a double-digit increase in media investment, offset by favorable net price realization and mix and higher volume.
North America Foodservice Segment
Fourth-quarter net sales for the North America Foodservice segment were down 1 percent to $575 million, including a 7-point headwind from the U.S. yogurt divestiture and a 6-point benefit from the 53rd week. Organic net sales essentially matched year-ago results, including a 2-point headwind from index pricing on bakery flour. Segment operating profit increased 22 percent to $101 million, driven primarily by Holistic Margin Management (HMM) cost savings and favorable net price realization and mix, partially offset by input cost inflation.
For the full year, North America Foodservice net sales were down 6 percent to $2.2 billion, including a 7-point headwind from the yogurt divestitures and a 2-point benefit from the 53rd week. Organic net sales were down 1 percent, including a 2-point headwind from index pricing on bakery flour. The segment held or gained dollar share in nearly 90 percent of its priority businesses, driven by gains in healthcare, lodging, recreation, and college and university channels. Segment operating profit was down 6 percent to $333 million, driven by the impact of the yogurt divestitures.
International Segment
Fourth-quarter net sales for the International segment increased 16 percent to $858 million, including an 8-point benefit from the 53rd week and a 5-point benefit from foreign currency exchange. Organic net sales were up 3 percent, driven by growth in Brazil, Europe, India, and China. Segment operating profit of $61 million was up 81 percent as reported and up 72 percent in constant currency, driven by favorable net price realization and mix and higher volume, partially offset by higher input costs and higher SG&A expenses.
For the full year, International net sales were up 9 percent to $3.0 billion, including a 4-point benefit from foreign currency exchange and a 2-point benefit from the 53rd week. Organic net sales were up 3 percent. The segment held or gained dollar share in 45 percent of its priority businesses. Segment operating profit of $189 million was up 96 percent as reported and up 90 percent in constant currency, driven by favorable net price realization and mix and higher volume, partially offset by higher input costs and higher SG&A expenses.
Joint Venture Summary
Fourth-quarter constant-currency net sales were down 3 percent for Cereal Partners Worldwide (CPW) and up 12 percent for Häagen-Dazs Japan (HDJ). Combined after-tax loss from joint ventures totaled $18 million in the quarter, compared to a loss of $6 million in the prior year, driven primarily by the company’s share of losses related to the sale of certain assets at CPW. For the full year, after-tax loss from joint ventures totaled $76 million compared to earnings of $58 million a year ago, driven primarily by the company’s share of a non-cash goodwill impairment charge at CPW as well as losses related to the sale of certain assets at CPW.
Other Income Statement Items
Full-year unallocated corporate items totaled $402 million net expense in fiscal 2026 compared to $396 million net expense a year ago (please see Note 4 below for more information on these expenses). Excluding mark-to-market valuation effects and other items affecting comparability, unallocated corporate items totaled $398 million net expense this year compared to $331 million net expense a year ago.
Restructuring, transformation, impairment, and other exit costs totaled $3.0 billion of net expense in fiscal 2026 compared to $78 million of net expense a year ago (please see Note 3 below for more information on these charges).
Net interest expense totaled $539 million in fiscal 2026 compared to $524 million a year ago, driven primarily by the 53rd week. The effective tax rate was 102.2 percent in fiscal 2026 compared to 20.2 percent last year (please see Note 6 below for more information on our effective tax rate), driven primarily by the non-cash goodwill charge in fiscal 2026 that was not deductible for tax purposes. The adjusted effective tax rate was 21.1 percent compared to 20.6 percent a year ago, driven primarily by unfavorable earnings mix by jurisdiction in fiscal 2026, partially offset by certain non-recurring tax benefits in fiscal 2026.
Cash Flow Generation and Cash Returns
Cash provided by operating activities totaled $2.2 billion in fiscal 2026 compared to $2.9 billion a year ago, driven primarily by changes in accounts payable, other current assets, and other current liabilities. Capital investments totaled $540 million compared to $625 million a year ago. Full-year operating cash flow conversion was not meaningful as a percent of after-tax earnings and free cash flow conversion was 85 percent of adjusted after-tax earnings. Dividends paid decreased 2 percent to $1.3 billion, driven by lower average shares outstanding. The company’s share repurchase activity in fiscal 2026 totaled $500 million compared to $1.2 billion in share repurchases a year ago. Average diluted shares outstanding decreased 4 percent in fiscal 2026 to 538 million.
Targeting $3 Billion in Cost Savings by Fiscal 2030
In an effort to help address input cost inflation, fund growth investments, and deliver accelerated profit and cash flow growth, General Mills announced that it expects to generate $3 billion in cumulative cost savings in the four years through fiscal 2030. Roughly $2 billion of this target is expected to be generated through the company’s ongoing HMM productivity program, equating to annual savings of approximately 4 percent of cost of goods sold. The remaining $1 billion is expected to be generated by the company’s global transformation initiative and other cost efficiency efforts, including redesigning the supply chain network, further streamlining business processes, and driving improvement across other elements of its cost base. These efforts will create a more agile and efficient structure that is better fit for future growth. General Mills expects to generate at least $750 million in total savings in fiscal 2027 toward this $3 billion target.
Dividend Declared
The General Mills board of directors declared a quarterly dividend at the prevailing rate of $0.61 per share, payable August 3, 2026, to shareholders of record July 10, 2026. General Mills and its predecessor company have paid dividends without interruption for 127 years.
Fiscal 2027 Outlook
General Mills’ top priority is to restore profitable organic net sales growth over the long term by improving the remarkability of its brands. For fiscal 2027, the company expects category growth to be consistent with recent trends and below its long-term historical growth rate, driven by a continued challenging consumer backdrop. With its base price investment actions completed in fiscal 2026, the company expects to shift its focus in fiscal 2027 to product innovation and renovation news centered on the benefits that matter most to today’s consumers, including better-for-you benefits like protein and fiber, bold flavors, fun and indulgence, and pet humanization. This approach is expected to further strengthen brand remarkability and drive improved organic net sales performance in fiscal 2027.
On the bottom line, General Mills expects to generate at least $750 million in savings from HMM, its global transformation initiative, and other cost savings actions in fiscal 2027, which are expected to offset input cost inflation and sustained investments in brand remarkability. In addition to those factors, the company expects headwinds of approximately 9 points on operating profit and 11 points on EPS in fiscal 2027 from lapping the 53rd week in fiscal 2026, normalizing corporate incentive expense, and the impact of fiscal 2026 divestitures.
Based on the above assumptions, General Mills outlined its full-year financial targets² for fiscal 2027:
Organic net sales are expected to range between down 1.5 percent and up 0.5 percent. Adjusted operating profit is expected to be down 13 percent to down 8 percent in constant currency from the base of $2.8 billion reported in fiscal 2026. Adjusted diluted earnings are expected to be between $3.00 and $3.20 per share, including an immaterial impact from foreign currency exchange. Free cash flow conversion is expected to be approximately 95 percent of adjusted after-tax earnings. The net impact of divestitures, foreign currency exchange, and the 53rd week is expected to reduce full-year reported net sales growth by approximately 2 percent. Foreign currency exchange is not expected to have a material impact on adjusted operating profit growth. 2 Financial targets are provided on a non-GAAP basis because certain information necessary to calculate comparable GAAP measures is not available. Please see Note 7 to the Consolidated Financial Statements below for discussion of the unavailable information.
General Mills will issue pre-recorded management remarks today, July 1, 2026, at approximately 6:30 a.m. Central time (7:30 a.m. Eastern time) and will hold a live, webcasted question and answer session beginning at 8:00 a.m. Central time (9:00 a.m. Eastern time). The pre-recorded remarks and the webcast will be made available at www.generalmills.com/investors.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on our current expectations and assumptions. These forward-looking statements, including the statements under the captions “Targeting $3 Billion in Cost Savings by Fiscal 2030” and “Fiscal 2027 Outlook,” and statements made by Mr. Harmening, are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. In particular, our predictions about future net sales, earnings, and cost savings could be affected by a variety of factors, including: imposed and threatened tariffs by the United States and its trading partners; disruptions or inefficiencies in the supply chain; competitive dynamics in the consumer foods industry and the markets for our products, including new product introductions, advertising activities, pricing actions, and promotional activities of our competitors; economic conditions, including changes in inflation rates, interest rates, tax rates, tariffs, or the availability of capital; product development and innovation; consumer acceptance of new products and product improvements; consumer reaction to pricing actions and changes in promotion levels; acquisitions or dispositions of businesses or assets; changes in capital structure; changes in the legal and regulatory environment, including tax legislation, labeling and advertising regulations, and litigation; impairments in the carrying value of goodwill, other intangible assets, or other long-lived assets, or changes in the useful lives of other intangible assets; changes in accounting standards and the impact of critical accounting estimates; product quality and safety issues, including recalls and product liability; changes in consumer demand for our products; effectiveness of advertising, marketing, and promotional programs; changes in consumer behavior, trends, and preferences, including weight loss trends; consumer perception of health-related issues, including obesity; consolidation in the retail environment; changes in purchasing and inventory levels of significant customers; fluctuations in the cost and availability of supply chain resources, including raw materials, packaging, energy, and transportation; effectiveness of restructuring, transformation and cost saving initiatives; volatility in the market value of derivatives used to manage price risk for certain commodities; benefit plan expenses due to changes in plan asset values and discount rates used to determine plan liabilities; failure or breach of our information technology systems; foreign economic conditions, including currency rate fluctuations; and political unrest in foreign markets and economic uncertainty due to terrorism or war. The Company undertakes no obligation to publicly revise any forward-looking statement to reflect any future events or circumstances.
# # #
Consolidated Statements of (Loss) Earnings and Supplementary Information
GENERAL MILLS, INC. AND SUBSIDIARIES
(In Millions, Except per Share Data)
Fiscal Year
2026
% Change
2025
% Change
2024
(Unaudited)
Net sales
$
18,424.6
(5
)
%
$
19,486.6
(2
)
%
$
19,857.2
Cost of sales
12,228.9
(4
)
%
12,753.6
(1
)
%
12,925.1
Selling, general, and administrative expenses
3,388.5
(2
)
%
3,445.8
6
%
3,259.0
Divestitures gain, net
(1,049.4
)
NM
(95.9
)
NM
—
Restructuring, transformation, impairment, and other exit costs
2,970.8
NM
78.3
(68
)
%
241.4
Operating profit
885.8
(73
)
%
3,304.8
(4
)
%
3,431.7
Benefit plan non-service income
(58.3
)
7
%
(54.4
)
(28
)
%
(75.8
)
Interest, net
538.6
3
%
524.2
9
%
479.2
Earnings before income taxes and after-tax (loss) earnings from joint ventures
405.5
(86
)
%
2,835.0
(6
)
%
3,028.3
Income taxes
414.3
(28
)
%
573.7
(3
)
%
594.5
After-tax (loss) earnings from joint ventures
(76.5
)
NM
57.6
(32
)
%
84.8
Net (loss) earnings, including earnings attributable to noncontrolling interests
(85.3
)
(104
)
%
2,318.9
(8
)
%
2,518.6
Net earnings attributable to noncontrolling interests
2.3
(90
)
%
23.7
8
%
22.0
Net (loss) earnings attributable to General Mills
$
(87.6
)
(104
)
%
$
2,295.2
(8
)
%
$
2,496.6
(Loss) earnings per share — basic
$
(0.16
)
(104
)
%
$
4.12
(5
)
%
$
4.34
(Loss) earnings per share — diluted
$
(0.16
)
(104
)
%
$
4.10
(5
)
%
$
4.31
Dividends per share
$
2.44
2
%
$
2.40
2
%
$
2.36
Fiscal Year
Comparisons as a % of net sales
2026
Basis Pt
Change
2025
Basis Pt
Change
2024
Gross margin
33.6
%
(100
)
34.6
%
(30
)
34.9
%
Selling, general, and administrative expenses
18.4
%
70
17.7
%
130
16.4
%
Operating profit
4.8
%
(1,220
)
17.0
%
(30
)
17.3
%
Net (loss) earnings attributable to General Mills
(0.5
)%
(1,230
)
11.8
%
(80
)
12.6
%
Fiscal Year
Adjusted comparisons as a % of net sales (a):
2026
Basis Pt
Change
2025
Basis Pt
Change
2024
Adjusted gross margin
33.5
%
(100
)
34.5
%
(30
)
34.8
%
Adjusted operating profit
15.3
%
(190
)
17.2
%
(90
)
18.1
%
Adjusted net earnings attributable to General Mills
10.4
%
(160
)
12.0
%
(120
)
13.2
%
(a) See Note 7 for a reconciliation of these measures not defined by generally accepted accounting principles (GAAP).
See accompanying notes to consolidated financial statements.
Consolidated Statements of (Loss) Earnings and Supplementary Information
GENERAL MILLS, INC. AND SUBSIDIARIES
(Unaudited) (In Millions, Except per Share Data)
Quarter Ended
May 31,
2026
May 25,
2025
% Change
Net sales
$
4,609.6
$
4,556.2
1
%
Cost of sales
3,006.1
3,082.2
(2
)
%
Selling, general, and administrative expenses
888.1
894.3
(1
)
%
Restructuring, transformation, impairment, and other exit costs
2,808.0
75.7
NM
Operating (loss) profit
(2,092.6
)
504.0
NM
Benefit plan non-service income
(12.2
)
(12.8
)
(5
)
%
Interest, net
151.5
139.7
8
%
(Loss) earnings before income taxes and after-tax loss from joint ventures
(2,231.9
)
377.1
NM
Income taxes
(240.4
)
69.1
NM
After-tax loss from joint ventures
(17.6
)
(6.0
)
193
%
Net (loss) earnings, including earnings attributable to noncontrolling interests
(2,009.1
)
302.0
NM
Net (loss) earnings attributable to noncontrolling interests
(1.2
)
8.0
(115
)
%
Net (loss) earnings attributable to General Mills
$
(2,007.9
)
$
294.0
NM
(Loss) earnings per share – basic
$
(3.74
)
$
0.53
NM
(Loss) earnings per share – diluted
$
(3.74
)
$
0.53
NM
Quarter Ended
Comparisons as a % of net sales
May 31,
2026
May 25,
2025
Basis Pt
Change
Gross margin
34.8
%
32.4
%
240
Selling, general, and administrative expenses
19.3
%
19.6
%
(30
)
Operating (loss) profit
NM
11.1
%
NM
Net (loss) earnings attributable to General Mills
NM
6.5
%
NM
Quarter Ended
Adjusted comparisons as a % of net sales (a):
May 31,
2026
May 25,
2025
Basis Pt
Change
Adjusted gross margin
34.2
%
32.7
%
150
Adjusted operating profit
15.3
%
13.7
%
160
Adjusted net earnings attributable to General Mills
11.0
%
8.8
%
220
(a) See Note 7 for a reconciliation of these measures not defined by generally accepted accounting principles (GAAP).
See accompanying notes to consolidated financial statements.
Operating Segment Results and Supplementary Information
GENERAL MILLS, INC. AND SUBSIDIARIES
(In Millions)
Fiscal Year
2026
% Change
2025
% Change
2024
(Unaudited)
Net sales:
North America Retail
$
10,571.8
(11
)
%
$
11,907.0
(5
)
%
$
12,473.4
International
3,043.8
9
%
2,797.8
2
%
2,746.5
North America Pet
2,613.3
6
%
2,470.8
4
%
2,375.8
North America Foodservice
2,169.5
(6
)
%
2,300.9
2
%
2,258.7
Total segment net sales
$
18,398.4
(6
)
%
$
19,476.5
(2
)
%
$
19,854.4
Corporate and other
26.2
159
%
10.1
NM
2.8
Total net sales
$
18,424.6
(5
)
%
$
19,486.6
(2
)
%
$
19,857.2
Operating profit:
North America Retail
$
2,189.0
(20
)
%
$
2,729.9
(11
)
%
$
3,080.4
International
188.7
96
%
96.4
(23
)
%
125.2
North America Pet
498.8
—
%
501.0
3
%
485.9
North America Foodservice
333.0
(6
)
%
355.4
13
%
315.5
Total segment operating profit
$
3,209.5
(13
)
%
$
3,682.7
(8
)
%
$
4,007.0
Unallocated corporate items
402.3
2
%
395.5
18
%
333.9
Divestitures gain, net
(1,049.4
)
NM
(95.9
)
NM
—
Restructuring, transformation, impairment, and other exit costs
2,970.8
NM
78.3
(68
)
%
241.4
Operating profit
$
885.8
(73
)
%
$
3,304.8
(4
)
%
$
3,431.7
See accompanying notes to consolidated financial statements.
Operating Segment Results and Supplementary Information
GENERAL MILLS, INC. AND SUBSIDIARIES
(Unaudited) (In Millions)
Quarter Ended
May 31,
2026
May 25,
2025
% Change
Net sales:
North America Retail
$
2,466.6
$
2,559.8
(4
)
%
International
858.4
738.9
16
%
North America Pet
702.4
675.2
4
%
North America Foodservice
574.6
579.4
(1
)
%
Total segment net sales
$
4,602.0
$
4,553.3
1
%
Corporate and other
7.6
2.9
162
%
Total net sales
$
4,609.6
$
4,556.2
1
%
Operating (loss) profit:
North America Retail
$
506.4
$
473.8
7
%
International
61.0
33.7
81
%
North America Pet
160.0
140.1
14
%
North America Foodservice
101.3
83.1
22
%
Total segment operating profit
$
828.7
$
730.7
13
%
Unallocated corporate items
113.3
151.0
(25
)
%
Restructuring, transformation, impairment, and other exit costs
2,808.0
75.7
NM
Operating (loss) profit
$
(2,092.6
)
$
504.0
NM
See accompanying notes to consolidated financial statements.
Consolidated Balance Sheets
GENERAL MILLS, INC. AND SUBSIDIARIES
(In Millions, Except Par Value)
May 31, 2026
May 25, 2025
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents
$
453.8
$
363.9
Receivables
1,646.8
1,795.9
Inventories
1,917.9
1,910.8
Prepaid expenses and other current assets
599.8
464.7
Assets held for sale
—
740.4
Total current assets
4,618.3
5,275.7
Land, buildings, and equipment
3,443.4
3,632.6
Goodwill
14,122.4
15,622.4
Other intangible assets
6,716.9
7,081.4
Other assets
1,115.7
1,459.0
Total assets
$
30,016.7
$
33,071.1
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable
$
3,729.5
$
4,009.5
Current portion of long-term debt
1,053.6
1,528.4
Notes payable
68.4
677.0
Other current liabilities
1,472.8
1,624.0
Liabilities held for sale
449.8
18.4
Total current liabilities
6,774.1
7,857.3
Long-term debt
12,416.0
12,673.2
Deferred income taxes
2,265.8
2,100.8
Other liabilities
1,180.2
1,228.6
Total liabilities
22,636.1
23,859.9
Stockholders’ equity:
Common stock, 754.6 shares issued, $0.10 par value
75.5
75.5
Additional paid-in capital
1,200.9
1,218.8
Retained earnings
20,514.9
21,917.8
Common stock in treasury, at cost, shares of 220.9 and 212.2
(11,900.6
)
(11,467.9
)
Accumulated other comprehensive loss
(2,522.3
)
(2,545.0
)
Total stockholders’ equity
7,368.4
9,199.2
Noncontrolling interests
12.2
12.0
Total equity
7,380.6
9,211.2
Total liabilities and equity
$
30,016.7
$
33,071.1
See accompanying notes to consolidated financial statements.
Consolidated Statements of Cash Flows
GENERAL MILLS, INC. AND SUBSIDIARIES
(In Millions)
Fiscal Year
2026
2025
(Unaudited)
Cash Flows - Operating Activities
Net (loss) earnings, including earnings attributable to noncontrolling interests
$
(85.3
)
$
2,318.9
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization
555.2
539.0
After-tax loss (earnings) from joint ventures
76.5
(57.6
)
Distributions of earnings from joint ventures
39.0
44.6
Stock-based compensation
79.4
91.7
Deferred income taxes
203.2
(120.9
)
Pension and other postretirement benefit plan contributions
(31.7
)
(30.8
)
Pension and other postretirement benefit plan costs
(23.7
)
(12.7
)
Divestitures gain, net
(1,049.4
)
(95.9
)
Restructuring, transformation, impairment, and other exit costs
2,897.7
74.3
Changes in current assets and liabilities, excluding the effects of acquisitions and divestitures
(478.3
)
192.4
Other, net
(16.4
)
(24.8
)
Net cash provided by operating activities
2,166.2
2,918.2
Cash Flows - Investing Activities
Purchases of land, buildings, and equipment
(539.9
)
(625.3
)
Acquisitions, net of cash acquired
—
(1,419.3
)
Proceeds from divestitures
1,830.2
241.8
Investments in affiliates, net
(31.8
)
13.3
Proceeds from disposal of land, buildings, and equipment
4.8
1.1
Other, net
(5.1
)
(6.5
)
Net cash provided (used) by investing activities
1,258.2
(1,794.9
)
Cash Flows - Financing Activities
Change in notes payable
(608.2
)
667.1
Issuance of long-term debt
2,005.8
2,354.9
Payment of long-term debt
(2,823.3
)
(1,300.0
)
Repurchase of Class A limited membership interests in General Mills Cereals, LLC
—
(252.8
)
Proceeds from common stock issued on exercised options
0.5
43.0
Purchases of common stock for treasury
(500.3
)
(1,202.9
)
Dividends paid
(1,315.3
)
(1,338.7
)
Distributions to noncontrolling interest holders
(2.1
)
(21.6
)
Other, net
(72.1
)
(129.1
)
Net cash used by financing activities
(3,315.0
)
(1,180.1
)
Effect of exchange rate changes on cash and cash equivalents
18.4
2.7
Increase (decrease) in cash and cash equivalents
127.8
(54.1
)
Cash and cash equivalents - beginning of year
363.9
418.0
Cash and cash equivalents - end of year (includes $37.9 million of cash classified as held for sale as of May 31, 2026)
$
491.7
$
363.9
Cash flow from changes in current assets and liabilities, excluding the effects of acquisitions and divestitures:
Receivables
$
12.9
$
(79.0
)
Inventories
(82.2
)
(18.5
)
Prepaid expenses and other current assets
(147.7
)
80.8
Accounts payable
(186.2
)
86.7
Other current liabilities
(75.1
)
122.4
Changes in current assets and liabilities
$
(478.3
)
$
192.4
See accompanying notes to consolidated financial statements.
GENERAL MILLS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
(1)
The accompanying Consolidated Financial Statements of General Mills, Inc. (we, us, our, General Mills, or the Company) have been prepared in accordance with accounting principles generally accepted in the United States for annual and interim financial information. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature.
Our fiscal year ends on the last Sunday in May. Fiscal year 2026 consists of 53 weeks, while fiscal years 2025 and 2024 consisted of 52 weeks. Our India business is on an April fiscal year end. In addition, the consolidated results of certain recent acquisitions are reported on a one-month lag. Please see Note 2 for more information.
(2)
During the fourth quarter of fiscal 2026, we entered into a definitive agreement to sell our business in Brazil to Café Três Corações S.A. (3corações) for a base price of R$800 million, subject to certain specified deductions and customary post-closing adjustments. The sale is anticipated to close in calendar 2026, subject to regulatory approvals and other customary closing conditions. As a result, we have classified relevant assets and liabilities (the disposal group) associated with our Brazil business as held for sale in our Consolidated Balance Sheets as of May 31, 2026. Additionally, in the fourth quarter of fiscal 2026, we recorded a $1,032 million non-cash pre-tax loss to value the disposal group at the lower of its carrying value or fair value less costs to sell based on estimated net proceeds, which was based on Level 2 inputs in the fair value hierarchy and includes the impact of accumulated foreign currency translation losses that will be reclassified to earnings upon sale. We recorded the loss in restructuring, transformation, impairment, and other exit costs in our Consolidated Statements of (Loss) Earnings, which consisted of a $753 million reserve against the assets held for sale and a $265 million accrual of the remaining difference between the carrying amount and the estimated net proceeds within liabilities held for sale. We will monitor changes in the estimated net proceeds that could further impact the value of the disposal group and the loss on sale.
In fiscal 2025 and 2026, we divested our North American yogurt businesses (Divestitures). During the first quarter of fiscal 2026, we completed the sale of our United States yogurt business to Groupe Lactalis S.A. and recorded a pre-tax gain of $1,046 million. During the third quarter of fiscal 2025, we completed the sale of our Canada yogurt business to Sodiaal International and recorded a pre-tax gain of $96 million. In the first quarter of fiscal 2026, we recorded a sale price adjustment that resulted in an $8 million increase to the pre-tax gain.
During the third quarter of fiscal 2025, we acquired NX Pet Holding, Inc., representing Whitebridge Pet Brands’ North American premium cat feeding and pet treating business, for a purchase price of $1.4 billion (Acquisition). We financed the transaction with cash on hand and new debt. We consolidated Whitebridge Pet Brands into our Consolidated Balance Sheets and recorded goodwill of $1,087 million, an indefinite-lived intangible asset for the Tiki Pets brand totaling $289 million, and a finite-lived customer relationship asset of $31 million. The goodwill is included in the North America Pet segment and is not deductible for tax purposes. The pro forma effects of this acquisition were not material. The consolidated results are reported in our North America Pet operating segment on a one-month lag. In fiscal 2026, we recorded a $32 million decrease to goodwill, primarily related to adjustments to certain purchase accounting liabilities upon finalization of income tax returns recorded in the second quarter of fiscal 2026.
During the fourth quarter of fiscal 2024, we acquired a pet food business in Europe for a purchase price of $434 million, net of cash acquired. During fiscal 2025, we paid $8 million related to a purchase price holdback after closing conditions were met. We financed the transaction with cash on hand. We consolidated the business into our Consolidated Balance Sheets and recorded goodwill of $318 million, an indefinite-lived brand intangible asset of $118 million, and a finite-lived customer relationship asset of $14 million. The goodwill is included in the International segment and is not deductible for tax purposes. The pro forma effects of this acquisition were not material. The consolidated results of the business are reported as part of our International operating segment on a one-month lag.
(3)
Restructuring, transformation, and impairment charges are recorded in our Consolidated Statement of (Loss) Earnings as follows:
Quarter Ended
Fiscal Year
In Millions
May 31,
2026
May 25,
2025
2026
2025
2024
Restructuring, transformation, impairment, and other exit costs
$
2,808.0
$
75.7
$
2,970.8
$
78.3
$
241.4
Cost of sales
6.0
8.2
19.4
9.2
17.6
Total restructuring, transformation, and impairment charges
2,814.0
83.9
2,990.2
87.5
259.0
In the second quarter of fiscal 2026, we recorded a $53 million non-cash impairment charge related to our Uncle Toby’s brand intangible asset.
Additionally, we identified a triggering event due to a sustained decline in market capitalization and stock price in the fourth quarter of fiscal 2026 reflecting heightened macroeconomic uncertainty and lower market multiples in our industry, which caused a related increase in our discount rates and required an interim impairment assessment. We performed the interim impairment assessment of our goodwill and other intangible assets as of May 31, 2026, and determined that the fair values of our North America Pet reporting unit and our Nudges and True Chews brand intangible assets no longer exceeded the carrying values of the respective assets, primarily driven by an increase in the discount rates. As a result, we recorded a $1,500 million non-cash goodwill impairment charge related to our North America Pet reporting unit and $250 million of non-cash impairment charges related to our Nudges and True Chews brand intangible assets, primarily driven by an increase in the discount rates. The $1,500 million goodwill impairment charge is not deductible for tax purposes.
In fiscal 2024, we recorded a $117 million non-cash goodwill impairment charge related to our Latin America reporting unit and $103 million of non-cash impairment charges related to our Top Chews, True Chews, and EPIC brand intangible assets.
In fiscal 2026, we recorded a $1,032 million non-cash pre-tax valuation loss related to the planned divestiture of our Brazil business. Please see Note 2 for additional information.
In fiscal 2026, we approved a multi-year organizational initiative to increase the competitiveness of our supply chain. We expect to incur approximately $101 million of restructuring charges related to these actions, of which approximately $33 million will be cash. These charges are expected to consist of approximately $66 million of net asset write-offs and $35 million of other costs, including severance. We recognized $71 million of asset write-offs and $24 million of other costs in fiscal 2026. We expect these actions to be completed by the end of fiscal 2029.
(4)
Unallocated corporate expense totaled $113 million in the fourth quarter of fiscal 2026, compared to $151 million in the same period last year. We recorded a $36 million net decrease in expense related to the mark-to-market valuation of certain commodity positions and grain inventories in the fourth quarter of fiscal 2026, compared to an $8 million net increase in expense in the same period last year. In the fourth quarter of fiscal 2026, we also recorded $15 million of transaction costs, primarily related to the definitive agreements to sell our Brazil business, compared to $16 million of transaction costs related to the Divestitures in the fourth quarter of fiscal 2025. We recorded $6 million of restructuring charges in costs of sales in the fourth quarter of fiscal 2026, compared to $8 million of restructuring charges in costs of sales in the fourth quarter of fiscal 2025. Additionally, in the fourth quarter of fiscal 2026, certain compensation and benefits expenses increased compared to the same period last year, including the impact of the 53rd week.
Unallocated corporate expense totaled $402 million in fiscal 2026, compared to $396 million last year. In fiscal 2026, certain compensation and benefits expenses increased compared to fiscal 2025, including the impact of the 53rd week. We recorded $19 million of restructuring charges in cost of sales in fiscal 2026, compared to $9 million of charges in cost of sales in fiscal 2025. Additionally, we recorded a $48 million net decrease in expense related to the mark-to-market valuation of certain commodity positions and grain inventories in fiscal 2026, compared to a $16 million net decrease last year. In fiscal 2026, we also recorded $31 million of transaction costs, primarily related to the Divestitures and the definitive agreement to sell our Brazil business, compared to $49 million of transaction costs related to the Divestitures and the Acquisition last year.
(5)
Basic and diluted earnings per share (EPS) were calculated as follows:
Quarter Ended
Fiscal Year
In Millions, Except per Share Data
May 31,
2026
May 25,
2025
2026
2025
2024
Net (loss) earnings attributable to General Mills
- as reported
$
(2,007.9
)
$
294.0
$
(87.6
)
$
2,295.2
$
2,496.6
Capital appreciation paid on Class A Interests in GMC (a)
—
(10.5
)
—
(10.5
)
—
Net (loss) earnings for EPS calculation
$
(2,007.9
)
$
283.5
$
(87.6
)
$
2,284.7
$
2,496.6
Average number of common shares - basic EPS
536.6
548.2
537.7
554.5
575.5
Incremental share effect from: (b) (c)
Stock options
—
0.6
—
1.2
1.8
Restricted stock units and performance share units
—
1.6
—
1.8
2.2
Average number of common shares - diluted EPS
536.6
550.4
537.7
557.5
579.5
(Loss) earnings per share — basic
$
(3.74
)
$
0.53
$
(0.16
)
$
4.12
$
4.34
(Loss) earnings per share — diluted
$
(3.74
)
$
0.53
$
(0.16
)
$
4.10
$
4.31
(a) Please see Note 7 for additional information (b) Incremental shares from stock options, restricted stock units, and performance share units are computed by the treasury stock method.
(c) During fiscal 2026, we reported a net loss attributable to General Mills. Inclusion of dilutive shares would result in a lower loss per share. As a result, the dilutive shares are considered to be antidilutive and were excluded from the calculation of diluted EPS for fiscal 2026.
(6)
The effective tax rate for the fourth quarter of fiscal 2026 was 10.8 percent compared to 18.3 percent for the fourth quarter of fiscal 2025. The 7.5 percentage point decrease was primarily due to certain nonrecurring discrete tax benefits, partially offset by a non-deductible goodwill impairment charge and unfavorable earnings mix by jurisdiction in fiscal 2026. Our adjusted effective tax rate was 12.7 percent in the fourth quarter of fiscal 2026, compared to 19.2 percent in the same period last year (see Note 7 below for a description of our use of measures not defined by GAAP). The 6.5 percentage point decrease was primarily due to certain nonrecurring discrete tax benefits in fiscal 2026, partially offset by unfavorable earnings mix by jurisdiction in fiscal 2026.
The effective tax rate for fiscal 2026 was 102.2 percent compared to 20.2 percent in fiscal 2025. The 82.0 percentage point increase was primarily driven by a non-deductible goodwill impairment charge and unfavorable earnings mix by jurisdiction in fiscal 2026, partially offset by certain nonrecurring tax benefits in fiscal 2026. Our adjusted effective tax rate was 21.1 percent, compared to 20.6 percent in fiscal 2025 (see Note 7 below for a description of our use of measures not defined by GAAP). The 0.5 percentage point increase is primarily due to unfavorable earnings mix by jurisdiction in fiscal 2026, partially offset by certain nonrecurring tax benefits in fiscal 2026.
(7)
We have included measures in this release that are not defined by GAAP. We believe that these measures provide useful information to investors, and include these measures in other communications to investors. For each of these non-GAAP financial measures, we are providing below a reconciliation of the differences between the non-GAAP measure and the most directly comparable GAAP measure, an explanation of why we believe the non-GAAP measure provides useful information to investors, and any additional material purposes for which our management or Board of Directors uses the non-GAAP measure. These non-GAAP measures should be viewed in addition to, and not in lieu of, the comparable GAAP measure.
We provide organic net sales growth rates for our consolidated net sales and segment net sales. This measure is used in reporting to our Board of Directors and executive management and as a component of the Board of Directors’ measurement of our performance for incentive compensation purposes. We believe that organic net sales growth rates provide useful information to investors because they provide transparency to underlying performance in our net sales by excluding the effect that foreign currency exchange rate fluctuations, acquisitions, divestitures, and a 53rd fiscal week, when applicable, have on year-to-year comparability. A reconciliation of these measures to reported net sales growth rates, the relevant GAAP measures, are included in our Operating Segment Results above.
Certain measures in this release are presented excluding the impact of foreign currency exchange (constant-currency). To present this information, current period results for entities reporting in currencies other than United States dollars are translated into United States dollars at the average exchange rates in effect during the corresponding period of the prior fiscal year, rather than the actual average exchange rates in effect during the current fiscal year. Therefore, the foreign currency impact is equal to current year results in local currencies multiplied by the change in the average foreign currency exchange rate between the current fiscal period and the corresponding period of the prior fiscal year. We believe that these constant-currency measures provide useful information to investors because they provide transparency to underlying performance by excluding the effect that foreign currency exchange rate fluctuations have on period-to-period comparability given volatility in foreign currency exchange markets.
Our fiscal 2027 outlook for organic net sales growth, constant-currency adjusted operating profit and adjusted diluted EPS, and free cash flow conversion are non-GAAP financial measures that exclude, or have otherwise been adjusted for, items impacting comparability, including the effect of foreign currency exchange rate fluctuations, restructuring and transformation charges, transaction and acquisition integration costs, acquisitions, divestitures, mark-to-market effects, and a 53rd week from the prior year. We are not able to reconcile these forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures without unreasonable efforts because we are unable to predict with a reasonable degree of certainty the actual impact of changes in foreign currency exchange rates and commodity prices or the timing or impact of acquisitions, divestitures, and restructuring and transformation actions throughout fiscal 2027. The unavailable information could have a significant impact on our fiscal 2027 GAAP financial results.
For fiscal 2027, we currently expect: the net impact from foreign currency exchange rates (based on a blend of forward and forecasted rates and hedge positions), divestitures completed prior to fiscal 2027 and those expected to close in fiscal 2027, and a 53rd week from the prior year to decrease net sales growth by approximately 2 percent; foreign currency exchange rates to have an immaterial impact on adjusted operating profit and adjusted diluted EPS growth; and restructuring and transformation charges and transaction and acquisition integration costs related to actions previously announced to total approximately $80 million to $85 million.
Significant Items Impacting Comparability
Several measures below are presented on an adjusted basis. The adjustments are either items resulting from infrequently occurring events or items that, in management’s judgment, significantly affect the year-to-year assessment of operating results.
The following are descriptions of significant items impacting comparability of our results.
Goodwill and other intangible assets impairments
Non-cash goodwill and other intangible assets impairment charges related to our North America Pet reporting unit goodwill and our Nudges, Uncle Toby’s, and True Chews brand intangible assets in fiscal 2026. Non-cash impairment charges related to our Latin America reporting unit goodwill and our Top Chews, True Chews, and EPIC brand intangible assets in fiscal 2024. Please see Note 3.
Divestitures gain, net
Net divestitures gain primarily related to the sale of our United States yogurt business in fiscal 2026 and Canada yogurt business in fiscal 2025. Please see Note 2.
Valuation loss on held for sale business
Non-cash valuation loss related to the planned divestiture of our Brazil business recorded in fiscal 2026. Please see Note 2.
CPW asset impairments. losses, and restructuring charges
CPW non-cash goodwill impairment charge related to the Australian market, and other asset impairment charges and losses related to the sale of certain assets recorded in fiscal 2026. CPW impairment charges related to certain long-lived assets recorded in fiscal 2025. CPW restructuring charges related to previously announced actions recorded in fiscal 2024.
Restructuring and transformation charges
Restructuring and transformation charges related to supply chain actions and previously announced actions recorded in fiscal 2026. Restructuring and transformation charges related to global transformation actions and previously announced restructuring actions in fiscal 2025. Restructuring charges related to commercial strategy restructuring actions and previously announced restructuring actions in fiscal 2024. Please see Note 3.
Mark-to-market effects
Net mark-to-market valuation of certain commodity positions recognized in unallocated corporate items. Please see Note 4.
Transaction costs
Fiscal 2026 transaction costs primarily related to the sale of our United States yogurt business and the definitive agreement to sell our Brazil business. Fiscal 2025 transaction costs related to the sale of our North American yogurt businesses and the Whitebridge Pet Brands acquisition. Transaction costs primarily related to the acquisition of a pet food business in Europe in fiscal 2024. Please see Note 2.
Acquisition integration costs
Integration costs related to the Whitebridge Pet Brands acquisition in fiscal 2025 and the acquisition of a pet food business in Europe in fiscal 2024 recorded in fiscal 2026 and fiscal 2025. Integration costs primarily resulting from the acquisition of TNT Crust in fiscal 2024. Please see Note 2.
Investment activity, net
Valuation adjustments of certain corporate investments in fiscal 2026 and fiscal 2025. Valuation adjustments and the gain on sale of certain corporate investments in fiscal 2024. Please see Note 4.
Capital appreciation paid on GMC Class A Interests
Capital account appreciation attributable and paid to the third-party holder of GMC Class A Interests in fiscal 2025.
Project-related costs
Restructuring initiative project-related costs related to previously announced restructuring actions recorded in fiscal 2025 and fiscal 2024.
Legal recovery
Legal recovery recorded in fiscal 2024.
Product recall, net
Net recoveries recorded in fiscal 2024 related to the fiscal 2023 voluntary recall of certain international Häagen-Dazs ice cream products, net of recoveries.
Adjusted Operating Profit Growth and Related Constant-currency Growth Rate
This measure is used in reporting to our Board of Directors and executive management and as a component of the measurement of our performance for incentive compensation purposes. We believe that this measure provides useful information to investors because it is the operating profit measure we use to evaluate operating profit performance on a comparable year-to-year basis. The measure is evaluated on a constant-currency basis by excluding the effect that foreign currency exchange rate fluctuations have on year-to-year comparability given the volatility in foreign currency exchange rates.
Our adjusted operating profit growth on a constant-currency basis is calculated as follows:
Quarter Ended
Fiscal Year
In Millions
May 31,
2026
May 25,
2025
Change
2026
2025
Change
Operating (loss) profit as reported
$
(2,092.6
)
$
504.0
NM
$
885.8
$
3,304.8
(73
)%
Goodwill and other intangible assets impairments
1,750.0
—
1,802.9
—
Divestitures gain, net
—
—
(1,049.4
)
(95.9
)
Valuation loss on held for sale business
1,031.8
—
1,031.8
—
Restructuring and transformation charges
32.2
83.9
155.5
87.5
Mark-to-market effects
(35.7
)
8.1
(48.4
)
(15.7
)
Transaction costs
14.8
16.2
31.3
49.1
Acquisition integration costs
2.9
6.7
9.5
13.9
Investment activity, net
2.0
3.4
(7.6
)
8.3
Project-related costs
—
0.1
—
0.5
Adjusted operating profit
$
705.4
$
622.5
13
%
$
2,811.5
$
3,352.6
(16
)%
Foreign currency exchange impact
1 pt
Flat
Adjusted operating profit growth, on a constant-currency basis
13
%
(16
)%
Note: Table may not foot due to rounding.
For more information on the reconciling items, please refer to the Significant Items Impacting Comparability section above.
Adjusted Diluted EPS and Related Constant-currency Growth Rate
This measure is used in reporting to our Board of Directors and executive management. We believe that this measure provides useful information to investors because it is the profitability measure we use to evaluate earnings performance on a comparable year-to-year basis.
The reconciliation of our GAAP measure, diluted EPS, to adjusted diluted EPS and the related constant-currency growth rates follows:
Quarter Ended
Fiscal Year
Per Share Data
May 31,
2026
May 25,
2025
Change
2026
2025
Change
Diluted (loss) earnings per share, as reported
$
(3.74
)
$
0.53
NM
$
(0.16
)
$
4.10
(104
)%
Goodwill and other intangible assets impairments
3.15
—
3.22
—
Valuation loss on held for sale business
1.45
—
1.45
—
Divestitures gain, net
—
—
(1.43
)
(0.15
)
CPW asset impairments, losses, and restructuring charges
0.06
0.03
0.28
0.04
Restructuring and transformation charges
0.04
0.11
0.22
0.12
Mark-to-market effects
(0.05
)
0.01
(0.07
)
(0.02
)
Transaction costs
0.02
0.03
0.04
0.07
Acquisition integration costs
0.01
0.01
0.01
0.02
Investment activity, net
—
—
(0.01
)
0.01
Capital appreciation paid on GMC Class A Interests
—
0.02
—
0.02
Adjusted diluted earnings per share (a)
$
0.95
$
0.74
28
%
$
3.55
$
4.21
(16
)%
Foreign currency exchange impact
1 pt
Flat
Adjusted diluted earnings per share growth, on a constant-currency basis
27
%
(16
)%
Note: Table may not foot due to rounding.
For more information on the reconciling items, please refer to the Significant Items Impacting Comparability section above.
(a) During fiscal 2026, we reported a net loss attributable to General Mills. Inclusion of dilutive shares would result in a lower loss per share and was therefore excluded from the calculation of diluted EPS. The inclusion of dilutive shares does not have a significant impact on adjusted diluted EPS and the reconciling items.
See our reconciliation below of the effective income tax rate as reported to the adjusted effective income tax rate for the tax impact of each item affecting comparability.
Adjusted Earnings Comparisons as a Percent of Net Sales
We believe that these measures provide useful information to investors because they are important for assessing our adjusted earnings comparisons as a percent of net sales on a comparable year-to-year basis.
Our adjusted earnings comparisons as a percent of net sales are calculated as follows:
Quarter Ended
In Millions
May 31, 2026
May 25, 2025
Comparisons as a % of Net Sales
Value
Percent of
Net Sales
Value
Percent of
Net Sales
Gross margin as reported (a)
$
1,603.5
34.8
%
$
1,474.0
32.4
%
Mark-to-market effects
(35.7
)
(0.8
)%
8.1
0.2
%
Restructuring and transformation charges
6.0
0.1
%
8.2
0.2
%
Transaction costs
0.4
—
%
—
—
%
Project-related costs
—
—
%
0.1
—
%
Adjusted gross margin
$
1,574.2
34.2
%
$
1,490.3
32.7
%
Operating (loss) profit as reported
$
(2,092.6
)
(45.4
)%
$
504.0
11.1
%
Goodwill and other intangible assets impairments
1,750.0
38.0
%
—
—
%
Valuation loss on held for sale business
1,031.8
22.4
%
—
—
%
Restructuring and transformation charges
32.2
0.7
%
83.9
1.8
%
Mark-to-market effects
(35.7
)
(0.8
)%
8.1
0.2
%
Transaction costs
14.8
0.3
%
16.2
0.4
%
Acquisition integration costs
2.9
0.1
%
6.7
0.1
%
Investment activity, net
2.0
—
%
3.4
0.1
%
Project-related costs
—
—
%
0.1
—
%
Adjusted operating profit
$
705.4
15.3
%
$
622.5
13.7
%
Net (loss) earnings attributable to General Mills as reported
$
(2,007.9
)
(43.6
)%
$
294.0
6.5
%
Goodwill and other intangible assets impairments, net of tax (b)
1,692.5
36.7
%
—
—
%
Valuation loss on held for sale business, net of tax (b)
780.8
16.9
%
—
—
%
CPW asset impairments, losses, and restructuring charges
29.7
0.6
%
16.7
0.4
%
Restructuring and transformation charges, net of tax (b)
24.9
0.5
%
64.4
1.4
%
Mark-to-market effects, net of tax (b)
(27.5
)
(0.6
)%
6.2
0.1
%
Transaction costs, net of tax (b)
11.4
0.2
%
12.4
0.3
%
Acquisition integration costs, net of tax (b)
2.2
—
%
6.4
0.1
%
Investment activity, net, net of tax (b)
1.6
—
%
2.7
0.1
%
Project-related costs, net of tax (b)
—
—
%
0.1
—
%
Adjusted net earnings attributable to General Mills
$
507.6
11.0
%
$
403.0
8.8
%
Note: Table may not foot due to rounding.
For more information on the reconciling items, please refer to the Significant Items Impacting Comparability section above.
(a) Net sales less cost of sales.
(b) See reconciliation of adjusted effective income tax rate below for tax impact of each adjustment.
Fiscal Year
In Millions
2026
2025
2024
Comparisons as a % of Net Sales
Value
Percent of
Net Sales
Value
Percent of
Net Sales
Value
Percent of
Net Sales
Gross margin as reported (a)
$
6,195.7
33.6
%
$
6,733.0
34.6
%
$
6,932.1
34.9
%
Mark-to-market effects
(48.4
)
(0.3
)%
(15.7
)
(0.1
)%
(39.1
)
(0.2
)%
Restructuring and transformation charges
19.4
0.1
%
9.2
—
%
17.6
0.1
%
Transaction costs
0.4
—
%
—
—
%
—
—
%
Project-related costs
—
—
%
0.5
—
%
2.0
—
%
Product recall, net
—
—
%
—
—
%
0.2
—
%
Adjusted gross margin
$
6,167.0
33.5
%
$
6,727.0
34.5
%
$
6,912.7
34.8
%
Operating profit as reported
$
885.8
4.8
%
$
3,304.8
17.0
%
$
3,431.7
17.3
%
Goodwill and other intangible
assets impairments
1,802.9
9.8
%
—
—
%
220.2
1.1
%
Divestitures gain, net
(1,049.4
)
(5.7
)%
(95.9
)
(0.5
)%
—
—
%
Valuation loss on held for sale business
1,031.8
5.6
%
—
—
%
—
—
%
Restructuring and transformation charges
155.5
0.8
%
87.5
0.4
%
38.8
0.2
%
Mark-to-market effects
(48.4
)
(0.3
)%
(15.7
)
(0.1
)%
(39.1
)
(0.2
)%
Transaction costs
31.3
0.2
%
49.1
0.3
%
14.0
0.1
%
Acquisition integration costs
9.5
0.1
%
13.9
0.1
%
0.2
—
%
Investment activity, net
(7.6
)
—
%
8.3
—
%
18.5
0.1
%
Project-related costs
—
—
%
0.5
—
%
2.0
—
%
Legal recovery
—
—
%
—
—
%
(53.2
)
(0.3
)%
Product recall, net
—
—
%
—
—
%
(30.3
)
(0.2
)%
Adjusted operating profit
$
2,811.5
15.3
%
$
3,352.6
17.2
%
$
3,602.7
18.1
%
Net (loss) earnings attributable to General Mills as reported
$
(87.6
)
(0.5
)%
$
2,295.2
11.8
%
$
2,496.6
12.6
%
Goodwill and other intangible assets impairments, net of tax (b)
1,732.5
9.4
%
—
—
%
161.8
0.8
%
Valuation loss on held for sale business, net of tax (b)
780.8
4.2
%
—
—
%
—
—
%
Divestitures gain, net, net of tax (b)
(772.8
)
(4.2
)%
(84.8
)
(0.4
)%
—
—
%
CPW asset impairments, losses, and restructuring charges
148.8
0.8
%
23.3
0.1
%
2.0
—
%
Restructuring and transformation charges, net of tax (b)
119.7
0.6
%
67.2
0.3
%
28.4
0.1
%
Mark-to-market effects, net of tax (b)
(37.3
)
(0.2
)%
(12.1
)
(0.1
)%
(30.1
)
(0.2
)%
Transaction costs, net of tax (b)
24.1
0.1
%
37.8
0.2
%
11.9
0.1
%
Acquisition integration costs, net of tax (b)
7.3
—
%
11.9
0.1
%
0.2
—
%
Investment activity, net, net of tax (b)
(5.8
)
—
%
6.4
—
%
12.6
0.1
%
Project-related costs, net of tax (b)
—
—
%
0.4
—
%
1.3
—
%
Legal recovery, net of tax (b)
—
—
%
—
—
%
(40.3
)
(0.2
)%
Product recall, net, net of tax (b)
—
—
%
—
—
%
(23.3
)
(0.1
)%
Adjusted net earnings attributable to General Mills
$
1,909.7
10.4
%
$
2,345.4
12.0
%
$
2,621.1
13.2
%
Note: Table may not foot due to rounding.
For more information on the reconciling items, please refer to the Significant Items Impacting Comparability section above.
(a) Net sales less cost of sales.
(b) See reconciliation of adjusted effective income tax rate below for tax impact of each adjustment.
We believe that this measure provides useful information to investors because it provides transparency to underlying performance of our segments by excluding the effect that foreign currency exchange rate fluctuations have on year-to-year comparability given volatility in foreign currency exchange markets.
Our segments’ operating profit growth rates on a constant-currency basis are calculated as follows:
Quarter Ended May 31, 2026
Percentage Change in
Operating Profit
as Reported
Impact of Foreign
Currency
Exchange
Percentage Change in
Operating Profit on
Constant-Currency Basis
North America Retail
7 %
Flat
7 %
International
81 %
9 pts
72 %
North America Pet
14 %
Flat
14 %
North America Foodservice
22 %
Flat
22 %
Total segment operating profit
13 %
Flat
13 %
Note: Table may not foot due to rounding.
Fiscal Year Ended May 31, 2026
Percentage Change in
Operating Profit
as Reported
Impact of Foreign
Currency
Exchange
Percentage Change in
Operating Profit on
Constant-Currency Basis
North America Retail
(20) %
Flat
(20) %
International
96 %
5 pts
90 %
North America Pet
Flat
Flat
Flat
North America Foodservice
(6) %
Flat
(6) %
Total segment operating profit
(13) %
Flat
(13) %
Note: Table may not foot due to rounding.
Adjusted Effective Income Tax Rate
We believe this measure provides useful information to investors because it presents the adjusted effective income tax rate on a comparable year-to-year basis.
Adjusted effective income tax rates are calculated as follows:
Quarter Ended
May 31, 2026
May 25, 2025
In Millions
(Except Per Share Data)
Pretax (Loss)
Earnings (a)
Income
Taxes
Pretax
Earnings (a)
Income
Taxes
As reported
$
(2,231.9
)
$
(240.4
)
$
377.1
$
69.1
Goodwill and other intangible assets impairments
1,750.0
57.5
—
—
Valuation loss on held for sale business
1,031.8
251.0
—
—
Restructuring and transformation charges
32.2
7.4
83.9
19.3
Mark-to-market charges
(35.7
)
(8.2
)
16.2
3.7
Transaction costs
14.8
3.4
8.1
1.9
Acquisition integration costs
2.9
0.7
3.4
0.8
Investment activity, net
2.0
0.5
6.7
0.4
Project-related costs
—
—
0.1
0.1
As adjusted
566.2
71.7
495.5
95.2
Effective tax rate:
As reported
10.8
%
18.3
%
As adjusted
12.7
%
19.2
%
Sum of adjustments to income taxes
312.3
26.1
Average number of common shares - diluted EPS (b)
$
537.3
$
550.4
Impact of income tax adjustments on adjusted diluted EPS
$
(0.58
)
$
(0.05
)
Note: Table may not foot due to rounding.
For more information on the reconciling items, please refer to the Significant Items Impacting Comparability section above.
(a) (Loss) earnings before income taxes and after-tax loss from joint ventures.
(b) During fiscal 2026, we reported a net loss attributable to General Mills. Inclusion of dilutive shares would result in a lower loss per share and was therefore excluded from the calculation of diluted EPS. The inclusion of dilutive shares does not have a significant impact on adjusted diluted EPS and the reconciling items.
Fiscal Year Ended
May 31, 2026
May 25, 2025
May 26, 2024
In Millions
(Except Per Share Data)
Pretax
Earnings (a)
Income
Taxes
Pretax
Earnings (a)
Income
Taxes
Pretax
Earnings (a)
Income
Taxes
As reported
$
405.5
$
414.3
$
2,835.0
$
573.7
$
3,028.3
$
594.5
Goodwill and other intangible assets impairments
1,802.9
70.4
—
—
220.2
58.4
Divestitures gain, net
(1,049.4
)
(276.6
)
(95.9
)
(11.1
)
—
—
Valuation loss on held for sale business
1,031.8
251.0
—
—
—
—
Restructuring and transformation charges
155.5
35.9
87.5
20.2
38.8
10.4
Mark-to-market effects
(48.4
)
(11.1
)
(15.7
)
(3.6
)
(39.1
)
(9.0
)
Transaction costs
31.3
7.2
49.1
11.3
14.0
2.1
Acquisition integration costs
9.5
2.2
13.9
2.0
0.2
0.1
Investment activity, net
(7.6
)
(1.7
)
8.3
1.9
18.5
5.9
Project-related costs
—
—
0.5
0.2
2.0
0.7
Legal recovery
—
—
—
—
(53.2
)
(12.9
)
Product recall, net
—
—
—
—
(30.3
)
(7.0
)
As adjusted
$
2,331.2
$
491.4
$
2,882.7
$
594.6
$
3,199.4
$
643.1
Effective tax rate:
As reported
102.2
%
20.2
%
19.6
%
As adjusted
21.1
%
20.6
%
20.1
%
Sum of adjustments to income taxes
$
77.3
$
20.9
$
48.6
Average number of common shares - diluted EPS (b)
538.5
557.5
579.5
Impact of income tax adjustments on adjusted diluted EPS
$
(0.14
)
$
(0.04
)
$
(0.08
)
Note: Table may not foot due to rounding.
For more information on the reconciling items, please refer to the Significant Items Impacting Comparability section above.
(a) Earnings before income taxes and after-tax (loss) earnings from joint ventures.
(b) During fiscal 2026, we reported a net loss attributable to General Mills. Inclusion of dilutive shares would result in a lower loss per share and was therefore excluded from the calculation of diluted EPS. The inclusion of dilutive shares does not have a significant impact on adjusted diluted EPS and the reconciling items.
Free Cash Flow Conversion Rate
We believe this measure provides useful information to investors because it is important for assessing our efficiency in converting earnings to cash and returning cash to shareholders. The calculation of free cash flow conversion rate and net cash provided by operating activities conversion rate, its equivalent GAAP measure, follows:
In Millions
Fiscal 2026
Net loss, including earnings attributable to noncontrolling interests, as reported
$
(85.3
)
Goodwill and other intangible assets impairments, net of tax
1,732.5
Valuation loss on held for sale business, net of tax
780.8
Divestitures gain, net, net of tax
(772.8
)
CPW asset impairments, losses, and restructuring charges
148.8
Restructuring and transformation charges, net of tax
119.7
Mark-to-market effects, net of tax
(37.3
)
Transaction costs, net of tax
24.1
Acquisition integration costs, net of tax
7.3
Investment activity, net, net of tax
(5.8
)
Adjusted net earnings, including earnings attributable to noncontrolling interests
$
1,912.0
Net cash provided by operating activities
2,166.2
Purchases of land, buildings, and equipment
(539.9
)
Free cash flow
$
1,626.3
Net cash provided by operating activities conversion rate
NM
Free cash flow conversion rate
85
%
Note: Table may not foot due to rounding.
For more information on the reconciling items, please refer to the Significant Items Impacting Comparability section above.
See our reconciliation above of the effective income tax rate as reported to the adjusted effective income tax rate for the tax impact of each item affecting comparability.
General Mills překonal odhady zisku i tržeb za čtvrtletí díky vyšší poptávce po potravinách do domácnosti. Upravený zisk činil 95 centů na akcii při tržbách 4,61 miliardy USD.
Packages of Cheerios, a brand owned by General Mills, are seen in a store in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly/File Photo Purchase Licensing Rights, opens new tab
July 1 (Reuters) - General Mills (GIS.N), opens new tab beat fourth-quarter profit and sales estimates on Wednesday, as an increase in consumers choosing to eat at home over dining out boosted demand for the Cheerios maker's pantry staples and breakfast cereals.
The company's shares, which have declined 25% so far in 2026, were up 3% in premarket trading.
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Budget-conscious consumers, hurt by still-high inflation and the rising cost of living, are increasingly eating at home rather than dining out, helping demand for packaged food makers like General Mills.
On an adjusted basis, the company posted a quarterly profit of 95 cents per share. Analysts on average estimated 80 cents per share, according to data compiled by LSEG.
The company posted sales of $4.61 billion for the quarter ended May 31, compared with an estimated $4.60 billion.
Reporting by Koyena Das in Bengaluru; Editing by Joyjeet Das
Our Standards: The Thomson Reuters Trust Principles., opens new tab
S&P Global dokončila vyčlenění Mobility do samostatné veřejně obchodované společnosti Mobility Global. Akcie Mobility Global začnou se dnes obchodovat na NYSE pod tickerem MBGL.
, /PRNewswire/ -- S&P Global Inc. (NYSE: SPGI) announced today that it has completed the separation of its Mobility division into an independent, public company, Mobility Global Inc. ("Mobility Global"). Mobility Global common stock will begin regular-way trading today on the New York Stock Exchange under the ticker symbol "MBGL".
"The successful completion of this separation reflects the extraordinary work and dedication of the S&P Global and Mobility Global teams over the past 15 months," said Martina Cheung, President and CEO of S&P Global. "Together, we have built a strong foundation for Mobility Global as an independent company and both companies stand well-positioned for the future."
The separation was achieved through the distribution of 100 percent of the shares of Mobility Global to holders of S&P Global common stock effective as of 12:01 a.m. New York City time on July 1, 2026, with S&P Global stockholders receiving one share of Mobility Global common stock for every share of S&P Global common stock held at the close of business on June 15, 2026, the record date. S&P Global stockholders entitled to receive the distribution received a book-entry account statement or a credit to their brokerage account reflecting their ownership of Mobility Global common stock. Fractional shares of Mobility Global common stock were not distributed. Any fractional share of Mobility Global common stock otherwise issuable to a S&P Global stockholder will be sold in the open market on such stockholder's behalf, and such stockholder will receive a cash payment for the fractional share based on its pro rata portion of the net cash proceeds from all sales of fractional shares.
S&P Global expects to issue a press release on July 6, 2026 providing recast financial information for full year 2025, the four quarters of 2025 and the first quarter of 2026, reflecting the completion of the spin-off of Mobility Global.
Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Evercore Group L.L.C. served as financial advisors and Davis Polk & Wardwell LLP and Baker McKenzie LLP served as legal advisors to S&P Global.
About S&P Global
S&P Global (NYSE: SPGI) enables businesses, governments, and individuals with trusted data, expertise and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive in a rapidly changing global landscape.
From helping our customers assess new investments across the capital and commodities markets to navigating the energy expansion, acceleration of artificial intelligence, and evolution of public and private markets, we enable the world's leading organizations to unlock opportunities, solve challenges, and plan for tomorrow – today.
Forward-Looking Statements
This press release contains "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management's current views concerning future events, trends, contingencies or results, appear at various places in this press release and use words like "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would." For example, management may use forward-looking statements when addressing topics such as: the outcome of contingencies; future actions by regulators; changes in the business strategies and methods of generating revenue of S&P Global Inc. (the "Company"); the development and performance of the Company's services and products; the expected impact of acquisitions and dispositions; and the Company's effective tax rates; the Company's cost structure, dividend policy, cash flows or liquidity.
Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include, among other things:
worldwide economic, financial, political, and regulatory conditions (including slower GDP growth or recession, restrictions on trade (e.g., tariffs), instability in the banking sector and inflation), and factors that contribute to uncertainty and volatility (e.g., supply chain risk), geopolitical uncertainty (including military conflict), natural and man-made disasters, civil unrest, public health crises (e.g., pandemics), and conditions that result from legislative, regulatory, trade and policy changes, including from the U.S. administration; the volatility and health of debt, equity, commodities and energy markets, including credit quality and spreads, the composition and mix of credit maturity profiles, the level of liquidity and future debt issuances, equity flows from active to passive, fluctuations in average asset prices in global equities, demand for investment products that track indices and assessments and trading volumes of certain exchange traded derivatives; the demand and market for credit ratings in and across the sectors and geographies where the Company operates; the Company's ability to maintain adequate physical, technical and administrative safeguards to protect the security of confidential information and data, or protect against a system or network disruption that results in regulatory penalties and remedial costs or improper disclosure of confidential information or data; the outcome of litigation, government and regulatory proceedings, investigations and inquiries; concerns in the marketplace affecting the Company's credibility or otherwise affecting market perceptions of the integrity or utility of independent credit ratings, benchmarks, indices and other services; the level of merger and acquisition activity in the United States and abroad; the level of the Company's future cash flows and capital investments; the effect of competitive products (including those incorporating artificial intelligence ("AI")) and pricing, including the level of success of new product developments and global expansion; the impact of customer cost-cutting pressures; a decline in the demand for our products and services by our customers and other market participants; our ability to develop new products or technologies, to integrate our products with new technologies (e.g., AI), or to compete with new products or technologies offered by new or existing competitors; the introduction of competing products (including those developed by AI) or technologies by other companies; our ability to protect our intellectual property from unauthorized use and infringement, including by others using AI technologies, and to operate our business without violating third-party intellectual property rights, including through our own use of AI in our products and services; our ability to attract, incentivize and retain key employees, especially in a competitive business environment; our ability to successfully navigate key organizational changes; the continuously evolving regulatory environment in Europe, the United States and elsewhere around the globe affecting each of our businesses and the products they offer, and our compliance therewith; the Company's exposure to potential criminal sanctions or civil penalties for noncompliance with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which it operates, including sanctions laws relating to countries such as Iran, Russia and Venezuela, anti-corruption laws such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act of 2010, and local laws prohibiting corrupt payments to government officials, as well as import and export restrictions; the Company's ability to make acquisitions and dispositions and successfully integrate the businesses we acquire; consolidation of the Company's customers, suppliers or competitors; the ability of the Company, and its third-party service providers, to maintain adequate physical and technological infrastructure; the Company's ability to successfully recover from a disaster or other business continuity problem, such as an earthquake, hurricane, flood, civil unrest, protests, military conflict, terrorist attack, outbreak of pandemic or contagious diseases, security breach, cyber attack, data breach, power loss, telecommunications failure or other natural or man-made event; the impact on the Company's revenue and net income caused by fluctuations in foreign currency exchange rates; the impact of changes in applicable tax or accounting requirements on the Company; the ability of the separation of Mobility Global to qualify for tax-free treatment for U.S. federal income tax purposes; any disruption to the Company's business in connection with the separation of Mobility Global; any loss of synergies from separating the businesses of Mobility Global and the Company that adversely impact the results of operations of both businesses, or the companies resulting from the separation of Mobility Global not realizing all of the expected benefits of the separation; and following the separation of Mobility Global, the combined value of the common stock of the two publicly-traded companies not being equal to or greater than the value of the Company's common stock had the separation not occurred. The factors noted above are not exhaustive. The Company and its subsidiaries operate in a dynamic business environment in which new risks emerge frequently. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the dates on which they are made. The Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Further information about the Company's businesses, including information about factors that could materially affect its results of operations and financial condition, is contained in the Company's filings with the SEC, including Item 1A, Risk Factors in our most recently filed Annual Report on Form 10-K.
Contacts:
S&P Global Investor Relations:
Mark Grant
Senior Vice President, Investor Relations and Treasurer
Tel: +1 (347) 640-1521
[email protected]m
Media:
Christina Twomey
Chief Communications Officer, S&P Global
Tel: +1 (646) 407-3001
[email protected]
Kroger oznámil dohodu o akvizici Giant Eagle za 1,65 miliardy USD, včetně 1,25 miliardy USD v hotovosti a převzetí zhruba 400 milionů USD závazků. Uzavření se čeká v roce 2027.
, /PRNewswire/ -- The Kroger Co. (NYSE: KR) and Giant Eagle, Inc. ("Giant Eagle") today announced a definitive agreement under which Kroger will acquire Giant Eagle, a leading family-owned food and pharmacy retailer with approximately $9 billion in annual sales and 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana. The transaction has been unanimously approved by Kroger's Board of Directors.
With a purchase price of $1.65 billion, comprised of $1.25 billion in cash consideration and the assumption of approximately $400 million in outstanding liabilities, this transaction is consistent with Kroger's disciplined approach to capital allocation and its focus on acquisitions where the company can create clear value for customers, associates and shareholders.
A strong strategic fit
"Giant Eagle is a well-run, high-quality regional grocer with a strong reputation for fresh products, pharmacy, private label and customer loyalty," said Greg Foran, Chief Executive Officer at Kroger. "We evaluated the opportunity carefully, and the strategic fit is clear. Giant Eagle expands our reach into attractive adjacent markets, allowing us to do what we do best: Run outstanding stores, deliver fresh foods and convenient meal solutions at affordable prices, and take care of our customers and associates every single day."
Giant Eagle's established store base, loyalty program, pharmacy business and private label portfolio provide a strong foundation for growth. Together with Kroger's eCommerce solutions, data and personalization capabilities and operating discipline, we see significant opportunity to accelerate growth both in-store and online, enhance the customer experience and create long-term value for shareholders.
The companies plan to build on Giant Eagle's long history of community engagement by bringing Kroger's Zero Hunger | Zero Waste impact plan to new communities.
"Today's announcement marks an exciting next chapter for our Team Members, customers, vendors and community partners," said Bill Artman, Chief Executive Officer at Giant Eagle. "Together with Kroger, we will be well-positioned to advance our strategy and deliver better quality and service, better everyday value, and a better shopping experience for our customers, while providing greater growth opportunities for our dedicated Team Members."
Financial impact
Kroger will finance the transaction with cash. Following the close of the transaction, the company expects to maintain its net total debt to adjusted EBITDA ratio target range of 2.3 – 2.5x. As part of Kroger's commitment to shareholder returns, the company expects to maintain its dividend, subject to board approval, continue its previously announced $2 billion share repurchase program, and preserve financial flexibility to invest in its strategic priorities and core business.
Kroger expects the transaction to be accretive to adjusted EPS per diluted share in the second full year after close, excluding one-time transaction and integration costs.
Regulatory process
In connection with obtaining the requisite regulatory clearance necessary to consummate the transaction, Kroger and Giant Eagle expect to make limited Giant Eagle store divestitures.
The transaction is expected to close in 2027, subject to receipt of required regulatory clearance and other customary closing conditions.
Advisors
RBC Capital Markets is serving as exclusive financial advisor, and Jones Day is serving as legal counsel to Kroger.
Wells Fargo is serving as exclusive financial advisor to Giant Eagle. WilmerHale is serving as the primary legal advisor and Troutman Pepper Locke is serving as local counsel on Giant Eagle's behalf.
About Kroger
At The Kroger Co. (NYSE: KR), we are, across our family of companies more than 400,000 associates who serve over 11 million customers daily through an eCommerce and store experience under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities. To learn more about us, visit our newsroom and investor relations site.
About Giant Eagle
Giant Eagle, Inc., ranked among Forbes magazine's largest private corporations, is one of the nation's largest food retailers and distributors. Founded in 1931, Giant Eagle, Inc. has grown to be a leading food and pharmacy retailer in the region, with more than 200 stores throughout western Pennsylvania, north central Ohio, northern West Virginia, Maryland, and Indiana.
This press release contains certain statements that constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, about the proposed acquisition of Giant Eagle and the future performance of the company. These statements are based on management's assumptions and beliefs in light of the information currently available to it. Such statements are indicated by words or phrases such as "achieve," "committed," "continue," "drive," "expect," "focused," "future," "guidance," "may," "model," "opportunities," "strategy," "target," "trends," and variations of such words and similar phrases. Various uncertainties and other factors could cause actual results to differ materially from those contained in the forward-looking statements. These include the specific risk factors identified in "Risk Factors" in our annual report on Form 10-K for our last fiscal year and any subsequent filings, as well as our ability to successfully complete the acquisition of Giant Eagle; and our ability to successfully integrate Giant Eagle into our business and risks inherent with the Giant Eagle acquisition in the achievement of expected results, including whether the acquisition will be accretive and within the expected timeframe.
Kroger assumes no obligation to update the information contained herein unless required by applicable law. Please refer to Kroger's reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties.
Marriott International uzavřel globální dohodu s The Coca‑Cola Company, která rozšíří nabídku nápojů a zlepší zážitek hostů v rámci portfolia Marriottu. Partnerství přinese značky Coca‑Coly do hotelů po celém světě.
, /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) and The Coca‑Cola Company (NYSE: KO) today announced a global agreement that will expand choice and elevate the guest experience across Marriott's portfolio, bringing The Coca‑Cola Company's brands to hotels around the world.
An Iconic Pairing: Marriott International and The Coca‑Cola Company Come Together in Strategic Beverage Agreement Under the agreement, The Coca‑Cola Company becomes Marriott's global beverage partner across several categories, including carbonated soft drinks and a growing range of hydration and functional beverages. Guests will begin seeing Coca-Cola's brands across guestrooms, restaurants, lounges and meetings and events, with a phased rollout beginning today and continuing worldwide over the coming months.
"This agreement brings together two iconic brands with a shared commitment to quality, consistency, and creating memorable experiences," said Anthony Capuano, President and Chief Executive Officer, Marriott International. "We are focused on delivering the products our guests and Marriott Bonvoy Members know and love, better meeting guest preferences, and creating economic benefits for owners and franchise operators across our system. We're excited to collaborate with The Coca‑Cola Company to deliver their great products in more places."
"This is a great day. On behalf of the entire Coca-Cola system, we're excited about our future with Marriott and the opportunity to provide travelers more of the brands they love," said Henrique Braun, CEO of The Coca-Cola Company. "From sparkling beverages to juices, hydration and dairy, we're offering guests options for their beverage needs throughout their entire visit."
The agreement expands beverage choice for guests across Marriott's global portfolio, bringing The Coca-Cola Company's world-class brands to a wide range of stay and dining occasions. Guests will enjoy Coca-Cola beverages across multiple touchpoints — from restaurants and lounges to meetings and events.
The agreement was developed in collaboration with Hot Shoppe Services International, Marriott's global procurement organization, leveraging its scale and supplier network to help drive value for owners and operators worldwide.
ABOUT MARRIOTT INTERNATIONAL
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of compelling brands across luxury, premium, select, midscale, extended stay, and all-inclusive, with approximately 10,000 properties in 146 countries and territories, as of June 11, 2026. Marriott franchises, operates, and licenses hotel, residential, timeshare, yacht, outdoor, and other lodging products all around the world. The company offers Marriott Bonvoy®, its highly awarded travel platform. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.
ABOUT THE COCA‑COLA COMPANY
The Coca‑Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company's purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca‑Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Fuze Tea, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and Santa Clara. We're constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people's lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Instagram, Facebook and LinkedIn.
Check Point Software spustil Cloud Firewall na AWS European Sovereign Cloud. Řešení má evropským zákazníkům pomoci splnit požadavky na provozní autonomii a umístění dat v EU.
, /PRNewswire/ -- Check Point Software Technologies Ltd. (NASDAQ: CHKP) a pioneer and global leader in cyber security solutions, today announced it is a partner for the AWS European Sovereign Cloud, a new independent cloud for Europe.
Check Point's Cloud Firewall offering is now available on the AWS European Sovereign Cloud, further supporting customers in Europe. Check Point solutions deliver prevention-first security across network, workload, and application layers, while providing customers with the same availability and performance they expect from Amazon Web Services (AWS). Availability on the AWS European Sovereign Cloud enables European organisations to meet stringent operational autonomy and data residency requirements within the European Union.
The AWS European Sovereign Cloud is a fully featured, independently operated sovereign cloud backed by strong technical controls, sovereign assurances, and legal protections designed to meet the needs of European governments and enterprises. The AWS European Sovereign Cloud infrastructure is entirely located within the EU and operates independently from existing AWS Regions. Customers using the AWS European Sovereign Cloud benefit from the full power of AWS including the same service portfolio, security, availability, performance, familiar architecture, APIs, and innovations such as the AWS Nitro System.
"The AWS European Sovereign Cloud represents a significant step forward for organisations operating under EU regulatory frameworks. Check Point's Cloud Firewall solution on this independent cloud infrastructure enables our customers to run their most sensitive workloads with operational autonomy and data residency entirely within the EU. With Check Point's prevention-first security and AI-powered threat intelligence, plus the sovereignty controls and technical assurances of AWS, we're delivering the compliance support and innovation our customers need to accelerate their digital transformation while meeting stringent regulatory requirements."
— Joaquin Reixa, Vice President, Western Europe, Check Point Software Technologies
Customers can begin planning their transition to the AWS European Sovereign Cloud today. To learn more about Check Point's Cloud Firewall and WAF offerings available on the AWS European Sovereign Cloud, visit Public Cloud AWS Security - Check Point Software.
Follow Check Point on LinkedIn, X (formerly Twitter), Facebook, YouTube and our blog.
About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is a global cyber security leader protecting more than 100,000 organizations worldwide. Its mission is to secure enterprises' AI transformation. With a prevention-first approach and an open ecosystem architecture, Check Point helps organizations block advanced threats, prioritize exposures, and automate security operations across complex digital environments. The unified architecture simplifies protection across hybrid networks, multi-cloud environments, digital workspaces, and AI systems. Structured around four strategic pillars, Hybrid Mesh Network Security, Workspace Security, Exposure Management, and AI Security, Check Point delivers consistent protection and visibility across multivendor environments, enabling organizations to reduce risk, improve efficiency, and accelerate innovation without increasing complexity.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements related to the expected availability and rollout of Check Point solutions on the AWS European Sovereign Cloud, customers' ability to deploy and operate workloads on the AWS European Sovereign Cloud as it becomes available, and our expectations regarding the benefits of these offerings. Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 17, 2025. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.
Dynatrace okamžitě jmenovala do představenstva George Riedela a Dana Streetmana po konstruktivním jednání se Starboard Value. Firma zároveň plánuje Investor Day po výsledcích za 2. fiskální čtvrtletí 2027.
BOSTON--(BUSINESS WIRE)--Dynatrace (NYSE: DT), the leading AI-powered observability platform, today announced the appointments of George Riedel and Dan Streetman to its Board of Directors, effective immediately. These appointments follow constructive and collaborative engagement with Starboard Value LP (“Starboard”).
Mr. Riedel brings significant experience as a CEO and senior executive at technology companies, as well as many years of board chair and independent director experience at both private and public technology companies. Mr. Streetman is the CEO of Tanium, a privately held cybersecurity and systems management company that is leveraging AI to drive meaningful growth and profitability, and he brings decades of senior leadership experience in autonomous IT, enterprise software, and information technology.
“George and Dan are experienced leaders whose valuable financial, operational, and business strategy expertise in technology broadly, and software and AI specifically, will serve as great resources for our management team in advancing our strategy to create value for shareholders,” said Jill Ward, Chair of Dynatrace’s Board of Directors. “We appreciate our engagement with Starboard and look forward to executing on our shared vision for Dynatrace’s future.”
“This is an exciting and dynamic time for Dynatrace as we continue to capitalize on an AI-first world and the additions of George and Dan to our Board will further our commitment to this priority,” said Rick McConnell, Chief Executive Officer of Dynatrace and a member of the Board of Directors.
Dynatrace also announced its plans to hold an Investor Day following its announcement of Q2 fiscal 2027 financial results to outline its path to the “Rule of 50” 1 in fiscal 2029. The company reiterated its intention to continue returning significant capital to shareholders under its $1 billion share repurchase authorization and plans to communicate a capital return framework at the Investor Day. Dynatrace and Starboard intend to engage substantively in the coming months.
Mr. McConnell continued, “We are continuing to execute our strategic plan to deliver balanced growth and profitability. We are also focused on refining our equity investor communications, including through our upcoming Investor Day, as we execute to achieve Dynatrace’s operational and financial objectives.”
Peter Feld, Managing Member, Portfolio Manager, and Head of Research of Starboard, said, “We invested in Dynatrace because we believe the company will be a beneficiary of enterprise AI adoption and has a tremendous opportunity to create significant shareholder value through top-line growth, margin expansion, and capital return. We appreciate the constructive engagement we have had with Dynatrace’s Board and management team and look forward to building on this productive dialogue as the company seeks to capitalize on these opportunities.”
New Director Biographies
George Riedel brings many decades of experience leading business strategy at technology and software companies, including as CEO and Chairman at Cloudmark, a messaging security and threat-intelligence platform, and Chief Strategy Officer and BU President at Nortel Networks, a leading telecommunications company. He also served as Senior Partner at McKinsey & Co., serving clients in technology, telecom and media industries. Mr. Riedel is a seasoned board chair and independent director at both private and public companies. He currently serves as Chairman of the Juvare Board, a critical incident preparedness and response technology provider, and Bridgeway Benefits Technologies, as well as Kasti.AI. He previously served as Board Chairman at Infinera and Accedian Networks and a director at Cerner Corporation and XPERI, among others. Mr. Riedel earned a B.S. with distinction in Mechanical Engineering from the University of Virginia and an M.B.A. from Harvard Business School.
Dan Streetman currently serves as Chief Executive Officer and board member at Tanium, a leader in autonomous IT. He brings decades of experience leading global customer operations, sales, marketing, product development and professional services for public and private enterprise software and information technology companies, as well as current executive experience creating agentic AI-driven workflows to transform customer experiences, accelerate growth opportunities, and deliver efficiencies. Prior to Tanium, Mr. Streetman served as CEO of TIBCO Software, a provider of enterprise software. Earlier in his career, Mr. Streetman oversaw significant data-driven transformations at BMC, Salesforce, and C3.ai. Mr. Streetman is a distinguished graduate of the U.S. Military Academy at West Point, where he served as the first regiment commander, and he earned an M.B.A. from Harvard Business School.
About Dynatrace
Dynatrace is advancing observability for today’s digital businesses, helping to transform the complexity of modern digital ecosystems into powerful business assets. By leveraging AI-powered insights, Dynatrace enables organizations to analyze, automate, and innovate faster to drive their business forward. Learn more at www.dynatrace.com.
Starboard Value LP is an investment adviser with a focused and differentiated fundamental approach to investing in publicly traded companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.
Cautionary Language Concerning Forward-Looking Statements
This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding AI, the company’s plans to hold an Investor Day that outlines, among other things, its path to becoming a “Rule of 50” company in fiscal 2029, the company’s intention to continue returning significant capital to shareholders under its $1 billion share repurchase authorization, the company’s strategic plan to deliver balanced growth and profitability, and the company’s focus on refining its equity investor communications. These forward-looking statements include all statements that are not historical facts and statements identified by words such as “will,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies, and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including the risks set forth under the caption “Risk Factors” in our Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and our other SEC filings. We assume no obligation to update any forward-looking statements contained in this document because of new information, future events, or otherwise.
Wesco International dokončila akvizici singapurské společnosti Newark Engineering Group, čímž rozšířila své působení v řetězci datových center a posílila svou přítomnost v jihovýchodní Asii.
, /PRNewswire/ -- Wesco International (NYSE: WCC) today announced the successful completion of its previously announced acquisition of Newark Engineering Group ("Newark Engineering"), a Singapore-based provider of engineered cooling solutions and lifecycle services for data centers.
"Newark Engineering brings specialized expertise in designing, installing and maintaining advanced thermal management systems critical to data center performance and reliability. This acquisition expands Wesco's participation in the data center value chain, while strengthening the company's presence across Southeast Asia," said Wesco Chairman, President and CEO John Engel.
About Newark Engineering Group
Headquartered in Singapore with offices in Malaysia and Indonesia, Newark Engineering Group is a provider of mission-critical cooling and thermal management solutions, delivering integrated customized HVAC solutions spanning design support, equipment supply, installation, commissioning and lifecycle services for data centers and other mission-critical infrastructure across Southeast Asia.
About Wesco
Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500® company with approximately $24 billion in annual sales in 2025 and a leading provider of business-to-business distribution, logistics services and supply chain solutions. Wesco offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The Company employs approximately 21,000 people, partners with the industry's premier suppliers, and serves thousands of customers around the world. With millions of products, end-to-end supply chain services, and significant digital capabilities, Wesco provides innovative solutions to meet customer needs across commercial and industrial businesses, technology companies, telecommunications providers, and utilities. Wesco operates more than 700 sites, including distribution centers, fulfillment centers, and sales offices in approximately 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and global corporations.
Wesco Contact Information:
Scott Gaffner
Senior Vice President, Investor Relations
[email protected]
Jennifer Sniderman
Vice President, Corporate Communications
[email protected]
RPM International schválila pravidelnou čtvrtletní hotovostní dividendu 0,54 USD na akcii, splatnou 31. července 2026. Jde o 52. rok v řadě růstu dividend.
MEDINA, Ohio--(BUSINESS WIRE)--RPM International Inc. (NYSE: RPM) today announced that its board of directors declared a regular quarterly cash dividend of $0.54 per share, payable on July 31, 2026, to stockholders of record as of July 14, 2026.
RPM’s last cash dividend increase of 6% in October 2025 marked RPM’s 52nd consecutive year of increased cash dividends paid to its stockholders, which places RPM in an elite category of less than half of 1 percent of all publicly traded U.S. companies. Only 39 other U.S. companies have consecutively paid an increasing annual dividend for a longer period of time, according to stockanalysis.com. During this timeframe, the company has returned approximately $3.9 billion in cash dividends to its stockholders.
About RPM
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. The company operates across three reportable segments: consumer, construction products and performance coatings. RPM has a diverse portfolio of market-leading brands, including Rust-Oleum, DAP, Zinsser, Varathane, The Pink Stuff, Stonhard, Carboline, Tremco, Euclid Chemical, Dryvit and Nudura. From homes and workplaces to infrastructure and precious landmarks, RPM’s brands are trusted by consumers and professionals alike to help build a better world. The company employs approximately 17,800 individuals worldwide. Visit www.RPMinc.com to learn more.
For more information, contact Matt Schlarb, Vice President – Investor Relations & Sustainability, at 330-220-6064 or [email protected].
July 01, 2026 06:00 ET | Source: Global Net Lease, Inc.
NEW YORK, July 01, 2026 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (“GNL” or the “Company”) (NYSE: GNL / GNL PRA / GNL PRB / GNL PRD / GNL PRE) announced today that it declared a dividend of $0.190 per share of common stock payable on July 17, 2026, to common stockholders of record at the close of business on July 13, 2026.
Dividends authorized by the Company’s board of directors and declared by the Company are paid on a quarterly basis in arrears during the first month following the end of each fiscal quarter (unless otherwise specified) to common stockholders of record on the record date for such payment.
About Global Net Lease, Inc.
Global Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net lease assets across the United States, and Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com.
Important Notice
The statements in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “potential,” “predicts,” “plans,” “intends,” “would,” “could,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks that any potential future acquisition, including the Modiv transaction, or disposition by the Company is subject to market conditions, capital availability and timing considerations and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in the Company’s forward-looking statements are set forth in the “Risk Factors” and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.
Prosperity Bancshares dokončila fúzi se Stellar Bancorp; za každou akcii Stellar vydala 0,3803 akcie Prosperity a vyplatila 11,36 USD v hotovosti, s účinností od 1. července 2026.
, /PRNewswire/ -- Prosperity Bancshares, Inc.® ("Prosperity") (NYSE: PB), the parent company of Prosperity Bank®, today announced the completion of the merger of Stellar Bancorp, Inc. ("Stellar") with and into Prosperity and the merger of Stellar's wholly owned subsidiary, Stellar Bank, headquartered in Houston, Texas, with and into Prosperity Bank, all effective on July 1, 2026.
Under the terms and subject to the conditions of the merger agreement between Prosperity and Stellar, Prosperity issued 0.3803 shares of Prosperity common stock and paid $11.36 in cash for each outstanding share of Stellar common stock.
Robert R. Franklin, Jr., Stellar's Chief Executive Officer and Stellar Bank's Executive Chairman, joined Prosperity and Prosperity Bank as Vice Chairman, and Ramon Vitulli, Stellar's President and Stellar Bank's Chief Executive Officer, joined Prosperity Bank as Houston Area Chairman. Additional members of Stellar Bank management will maintain leadership roles in the combined organization.
In addition, Mr. Franklin and Joe B. Swinbank, a director of Stellar, have joined the Board of Directors of Prosperity, and Mr. Vitulli and Pat Parsons, a director of Stellar Bank, have joined the Board of Directors of Prosperity Bank.
Stellar operates fifty-two (52) banking offices including its main office in Houston and banking offices in the Houston, Beaumont and East Texas areas and in Dallas, Texas. Stellar banking locations will continue to operate under the Stellar Bank name until the operational integration, which is scheduled for March 2027. At that time, Stellar customers may begin using any of Prosperity Bank's full service banking centers.
About Prosperity Bancshares, Inc. ®
As of March 31, 2026, Prosperity Bancshares, Inc.® is a $43.619 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses and communities in the areas it serves by providing financial solutions to simplify everyday financial needs. In addition to offering traditional deposit and loan products, Prosperity offers digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and treasury management.
As of June 30, 2026, Prosperity operates 311 full-service banking locations: 62 in the Houston area, including The Woodlands; 36 in the South Texas area including Corpus Christi and Victoria; 61 in the Dallas/Fort Worth area; 21 in the East Texas area; 28 in the Central Texas area including Austin and San Antonio; 45 in the West Texas area including Lubbock, Midland-Odessa, Abilene, Amarillo and Wichita Falls; 15 in the Bryan/College Station area; 6 in the Central Oklahoma area; 8 in the Tulsa, Oklahoma area; and 18 in the Central, South Texas and San Antonio areas currently doing business as American Bank; and 11 in the San Antonio area doing business as Texas Partners Bank.
Cautionary Notes on Forward-Looking Statements
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. From time to time, oral or written forward-looking statements may also be included in information released to the public. Such forward-looking statements are typically, but not exclusively, identified by the use in the statements of words or phrases such as "aim," "anticipate," "believe," "estimate," "expect," "goal," "guidance," "intend," "is anticipated," "is expected," "is intended," "objective," "plan," "projected," "projection," "will affect," "will be," "will continue," "will decrease," "will grow," "will impact," "will increase," "will incur," "will reduce," "will remain," "will result," "would be," variations of such words or phrases (including where the word "could," "may," or "would" is used rather than the word "will" in a phrase) and similar words and phrases indicating that the statement addresses some future result, occurrence, plan or objective. Forward-looking statements include all statements other than statements of historical fact, including forecasts or trends, and are based on current expectations, assumptions, estimates and projections about Prosperity Bancshares and its subsidiaries. These forward-looking statements may include information about Prosperity's possible or assumed future economic performance or future results of operations, including future revenues, income, expenses, provision for loan losses, provision for taxes, effective tax rate, earnings per share and cash flows and Prosperity's future capital expenditures and dividends, future financial condition and changes therein, including changes in Prosperity's loan portfolio and allowance for loan losses, changes in deposits, borrowings and the investment securities portfolio, future capital structure or changes therein, as well as the plans and objectives of management for Prosperity's future operations, future or proposed acquisitions, including the integration of Stellar, the future or expected effect of acquisitions on Prosperity's operations, results of operations, financial condition, and future economic performance, statements about the anticipated benefits of transactions, and statements about the assumptions underlying any such statement. These forward‑looking statements are not guarantees of future performance and are based on expectations and assumptions Prosperity currently believes to be valid. Because forward-looking statements relate to future results and occurrences, many of which are outside of Prosperity's control, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. These risks and uncertainties include, but are not limited to whether Prosperity can: successfully identify acquisition targets and integrate the businesses of acquired companies and banks, including Stellar; continue to sustain its current internal growth rate or total growth rate; provide products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its sales objectives. Other risks include, but are not limited to: the possibility that credit quality could deteriorate; actions of competitors; changes in laws and regulations (including changes in governmental interpretations of regulations and changes in accounting standards); the possibility that the anticipated benefits of an acquisition transaction, including Stellar, are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of Stellar or as a result of the strength of the economy and competitive factors generally; a deterioration or downgrade in the credit quality and credit agency ratings of the securities in Prosperity's securities portfolio; customer and consumer demand, including customer and consumer response to marketing; effectiveness of spending, investments or programs; fluctuations in the cost and availability of supply chain resources; economic conditions, including currency rate, interest rate and commodity price fluctuations; and weather. Prosperity disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. These and various other factors are discussed in Prosperity's Annual Report on Form 10-K for the year ended December 31, 2025, and other reports and statements Prosperity has filed with the Securities and Exchange Commission ("SEC"). Copies of the SEC filings for Prosperity may be downloaded from the Internet at no charge from http://www.prosperitybankusa.com.
Operating income of $106.7 million, or $111.2 million on an adjusted basis1
Operating margin of 10.2%, or 10.6% on an adjusted basis1
Diluted EPS of $1.44 vs. $1.02 in the prior fiscal year quarter
Adjusted diluted EPS of $1.43 vs. $1.08 in the prior fiscal year quarter1
MELVILLE, NY AND DAVIDSON, NC / ACCESS Newswire / July 1, 2026 / MSC INDUSTRIAL SUPPLY CO. (NYSE:MSM) ("MSC," "MSC Industrial," the "Company," "we," "us," or "our"), a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services, today reported financial results for its fiscal 2026 third quarter ended May 30, 2026.
Financial Highlights 2
FY26 Q3
FY25 Q3
Change
FY26 YTD
FY25 YTD
Change
Net Sales
$
1,047.1
$
971.1
7.8
%
$
2,930.5
$
2,791.3
5.0
%
Income from Operations
$
106.7
$
82.7
29.0
%
$
247.8
$
217.3
14.0
%
Operating Margin
10.2
%
8.5
%
8.5
%
7.8
%
Net Income Attributable to MSC
$
80.4
$
56.8
41.4
%
$
174.7
$
142.8
22.3
%
Diluted EPS
$
1.44
3
$
1.02
4
41.2
%
$
3.12
3
$
2.55
4
22.4
%
Adjusted Financial Highlights 2
FY26 Q3
FY25 Q3
Change
FY26 YTD
FY25 YTD
Change
Net Sales
$
1,047.1
$
971.1
7.8
%
$
2,930.5
$
2,791.3
5.0
%
Adjusted Income from Operations 1
$
111.2
$
87.2
27.5
%
$
261.5
$
225.5
16.0
%
Adjusted Operating Margin 1
10.6
%
9.0
%
8.9
%
8.1
%
Adjusted Net Income Attributable to MSC 1
$
79.9
$
60.2
32.7
%
$
181.2
$
149.0
21.6
%
Adjusted Diluted EPS 1
$
1.43
3
$
1.08
4
32.4
%
$
3.24
3
$
2.67
4
21.3
%
1 Represents a non-GAAP financial measure. An explanation and a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure are presented in the schedules accompanying this press release.
2 In millions except percentages and per share data or as otherwise noted.
3 Based on 56.0 million weighted-average diluted shares outstanding for FY26 Q3 and FY26 YTD.
4 Based on 55.8 million and 55.9 million weighted-average diluted shares outstanding for FY25 Q3 and FY25 YTD, respectively.
Martina McIsaac, President and Chief Executive Officer, said, "Our fiscal 3Q results that exceeded expectations provide evidence that we are fundamentally doing more with less and taking the right steps. Underpinning this improved performance was strength in the Core Customer, which continued to outperform the total company, and notable improvement in National Accounts. I am grateful for the hard work and dedication of our team members that has allowed us to advance the strategic changes being made to strengthen the business."
Greg Clark, Vice President and Interim Chief Financial Officer, added, "Average daily sales exceeded the high-end of our outlook with year-over-year improvement of 7.8% driven by benefits from price and volumes returning to growth in the quarter. We successfully capitalized on this growth by delivering 170 basis points of operating margin expansion, or 160 basis points on an adjusted basis year-over-year, above the higher end of our outlook range. This improved performance resulted in meaningful GAAP and adjusted earnings per share growth of more than 40% and 30% respectively, as well as an incremental operating margin of 32% in the quarter."
McIsaac concluded, "While we are encouraged by these results, there is further room to improve. We will continue advancing the benefits from our strategic initiatives and improving our cost structure that supported our improved performance this quarter. I am confident this progress will continue, which will be critical in the coming quarters as we begin to lap stronger benefits from price."
Fourth Quarter Fiscal 2026 Financial Outlook
ADS Growth (YoY)
6.5% - 8.5%
Adjusted Operating Margin1
10.0% - 10.8%
Full-Year Fiscal 2026 Outlook for Certain Financial Metrics Maintained
Depreciation and amortization expense of ~$100M
Interest and other expense of ~$30M2
Capital expenditures of ~$90M
Free cash flow conversion1 of ~95%
Tax rate of ~24.5%-25.5%
1 Guidance provided is a non-GAAP financial measure presented on an adjusted basis. For further details see the Non-GAAP financial measures information presented in the schedules accompanying this press release.
2 Includes $5.1M of Employee Retention Credit tax benefit recognized in the fiscal third quarter
Conference Call Information
MSC will host a conference call today at 8:30 a.m. EDT to review the Company's fiscal 2026 third quarter results. To access the earnings release, webcast, presentation slides and operational statistics, please visit the Company's website at: http://investor.mscdirect.com. Alternatively, the conference call can be accessed by dialing 1-888-506-0062 (U.S.) or 1-973-528-0011 (international) and providing the access code 895916.
An online archive of the broadcast will be available within one hour of the conclusion of the call and remain available until Wednesday, July 15, 2026. The Company's reporting date for its fiscal 2026 fourth quarter and full year results is scheduled for October 22, 2026.
About MSC Industrial Supply Co.
MSC Industrial Supply Co. (NYSE:MSM) is a leading North American distributor of a broad range of metalworking, maintenance, repair and operations (MRO), and production fastener and hardware products and services. With approximately 2.5 million products, industry‑leading inventory management and supply chain solutions, and more than 80 years of experience, we help customers improve productivity, profitability, and operational performance.
Our team of over 7,000 associates partners closely with customers across industries to keep their operations running efficiently today while enabling them with insights and comprehensive solutions to continually rethink, retool, and optimize for a more productive tomorrow.
For more information on MSC Industrial, please visit mscdirect.com.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact, that address activities, events or developments that MSC expects, believes or anticipates will or may occur in the future, including statements about results of operations and financial condition, expected future results, expected benefits from our investment and strategic plans and other initiatives, and expected future growth and profitability, are forward-looking statements. The words "will," "may," "believes," "anticipates," "thinks," "expects," "estimates," "plans," "intends" and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. In addition, statements which refer to expectations, projections or other characterizations of future events or circumstances, statements involving a discussion of strategy, plans or intentions, statements about management's assumptions, projections or predictions of future events or market outlook and any other statement other than a statement of present or historical fact are forward-looking statements. The inclusion of any statement in this press release does not constitute an admission by MSC or any other person that the events or circumstances described in such statement are material. In addition, new risks may emerge from time to time and it is not possible for management to predict such risks or to assess the impact of such risks on our business or financial results. Accordingly, future results may differ materially from historical results or from those discussed or implied by these forward-looking statements. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: general economic conditions in the markets in which we operate; changing customer and product mixes; volatility in commodity, energy and labor prices, and the impact of prolonged periods of low, high or rapid inflation; competition, including the adoption by competitors of aggressive pricing strategies or sales methods; industry consolidation and other changes in the industrial distribution sector; the applicability of laws and regulations relating to our status as a supplier to the U.S. government and public sector; the credit risk of our customers; our ability to accurately forecast customer demands; interruptions in our ability to make deliveries to customers; supply chain disruptions; our ability to attract and retain sales and customer service personnel; the risk of loss of key suppliers or contractors or key brands; changes to trade policies or trade relationships, including tariff policies; risks associated with opening or expanding our customer fulfillment centers; our ability to estimate the cost of healthcare claims incurred under our self-insurance plan; interruption of operations at our headquarters or customer fulfillment centers; products liability due to the nature of the products that we sell; impairments of goodwill and other indefinite-lived intangible assets; the impact of climate change; operating and financial restrictions imposed by the terms of our material debt instruments; our ability to access additional liquidity; the significant influence that our principal shareholders will continue to have over our decisions; our ability to execute on our E-commerce strategies and maintain our digital platforms; costs associated with maintaining our information technology ("IT") systems and complying with data privacy laws; disruptions or breaches of our IT systems or violations of data privacy laws, including such disruptions or breaches in connection with our E-commerce channels; risks related to online payment methods and other online transactions; the retention of key management personnel; litigation risk due to the nature of our business; failure to comply with environmental, health, and safety laws and regulations; and our ability to comply with, and the costs associated with, social and environmental responsibility policies. Additional information concerning these and other risks is described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, respectively, and in the other reports and documents that we file with the United States Securities and Exchange Commission. We expressly disclaim any obligation to update any of these forward-looking statements, except to the extent required by applicable law.
MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Balance Sheets
(In thousands)
May 30,
2026
August 30,
2025
ASSETS
(Unaudited)
Current Assets:
Cash and cash equivalents
$
74,094
$
56,228
Accounts receivable, net of allowance for credit losses
413,258
423,306
Inventories
684,118
644,090
Prepaid expenses and other current assets
105,280
102,930
Total current assets
1,276,750
1,226,554
Property, plant and equipment, net
343,887
346,706
Goodwill
724,075
723,702
Identifiable intangibles, net
73,819
85,455
Operating lease assets
48,148
52,464
Other assets
28,982
27,183
Total assets
$
2,495,661
$
2,462,064
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Current portion of debt including obligations under finance leases
$
417,219
$
316,868
Current portion of operating lease liabilities
22,500
22,236
Accounts payable
229,418
225,150
Accrued expenses and other current liabilities
155,596
165,092
Total current liabilities
824,733
729,346
Long-term debt including obligations under finance leases
89,555
168,831
Noncurrent operating lease liabilities
26,150
30,872
Deferred income taxes and tax uncertainties
135,802
136,513
Total liabilities
1,076,240
1,065,562
Commitments and Contingencies
Shareholders' Equity:
Preferred Stock
-
-
Class A Common Stock
57
57
Additional paid-in capital
1,107,522
1,093,630
Retained earnings
451,403
432,622
Accumulated other comprehensive loss
(19,528
)
(20,736
)
Class A treasury stock, at cost
(120,033
)
(117,363
)
Total MSC Industrial shareholders' equity
1,419,421
1,388,210
Noncontrolling interest
-
8,292
Total shareholders' equity
1,419,421
1,396,502
Total liabilities and shareholders' equity
$
2,495,661
$
2,462,064
MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
Thirteen Weeks Ended
Thirty-Nine Weeks Ended
May 30,
2026
May 31,
2025
May 30,
2026
May 31,
2025
Net sales
$
1,047,083
$
971,145
$
2,930,541
$
2,791,346
Cost of goods sold
616,678
573,406
1,729,871
1,650,190
Gross profit
430,405
397,739
1,200,670
1,141,156
Operating expenses
323,660
312,324
945,570
917,465
Restructuring and other costs
-
2,680
7,324
6,430
Income from operations
106,745
82,735
247,776
217,261
Other income (expense):
Interest expense
(5,383
)
(6,031
)
(16,386
)
(18,332
)
Interest income
156
368
561
942
Other income (expense), net
2,726
(1,958
)
(4,175
)
(12,442
)
Total other expense
(2,501
)
(7,621
)
(20,000
)
(29,832
)
Income before provision for income taxes
104,244
75,114
227,776
187,429
Provision for income taxes
25,539
18,253
55,805
45,727
Net income
78,705
56,861
171,971
141,702
Less: Net (loss) income attributable to noncontrolling interest
(1,657
)
16
(2,679
)
(1,080
)
Net income attributable to MSC Industrial
$
80,362
$
56,845
$
174,650
$
142,782
Per share data attributable to MSC Industrial:
Net income per common share:
Basic
$
1.44
$
1.02
$
3.13
$
2.56
Diluted
$
1.44
$
1.02
$
3.12
$
2.55
Weighted-average shares used in computing
net income per common share:
Basic
55,838
55,694
55,817
55,795
Diluted
55,990
55,765
55,955
55,895
MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Statements of Comprehensive Income
(In thousands)
(Unaudited)
Thirteen Weeks Ended
Thirty-Nine Weeks Ended
May 30,
2026
May 31,
2025
May 30,
2026
May 31,
2025
Net income, as reported
$
78,705
$
56,861
$
171,971
$
141,702
Other comprehensive income, net of tax:
Foreign currency translation adjustments
(1,172
)
6,208
1,557
(454
)
Comprehensive income
77,533
63,069
173,528
141,248
Comprehensive income attributable to noncontrolling interest:
Net loss (income)
1,657
(16
)
2,679
1,080
Foreign currency translation adjustments
82
(362
)
(349
)
(71
)
Comprehensive income attributable to MSC Industrial
$
79,272
$
62,691
$
175,858
$
142,257
MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Thirty-Nine Weeks Ended
May 30,
2026
May 31,
2025
Cash Flows from Operating Activities:
Net income
$
171,971
$
141,702
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
75,788
67,501
Amortization of cloud computing arrangements
964
1,439
Non-cash operating lease cost
17,691
17,563
Stock-based compensation
14,423
10,397
Loss on disposal of property
611
1,742
Property, plant and equipment asset impairment
1,890
-
Non-cash changes in fair value of estimated contingent consideration
(696
)
293
Provision for credit losses
8,054
5,699
Expenditures for cloud computing arrangements
(3,896
)
(4,430
)
Deferred income taxes and tax uncertainties
(578
)
(726
)
Changes in operating assets and liabilities:
Accounts receivable
2,959
(3,806
)
Inventories
(37,951
)
(4,761
)
Prepaid expenses and other current assets
(357
)
(2,335
)
Operating lease liabilities
(17,834
)
(17,700
)
Other assets
4
62
Accounts payable and accrued liabilities
(7,508
)
40,821
Total adjustments
53,564
111,759
Net cash provided by operating activities
225,535
253,461
Cash Flows from Investing Activities:
Expenditures for property, plant and equipment
(64,130
)
(71,109
)
Cash used in acquisitions
(240
)
(790
)
Net proceeds from sale of property
1,057
30,336
Net cash used in investing activities
(63,313
)
(41,563
)
Cash Flows from Financing Activities:
Repurchases of Class A Common Stock
(13,894
)
(39,138
)
Payments of regular cash dividends
(145,752
)
(142,252
)
Proceeds from sale of Class A Common Stock in connection with Associate Stock Purchase Plan
2,999
3,193
Borrowings under credit facilities
271,000
239,250
Payments under credit facilities
(251,000
)
(226,750
)
Purchase of noncontrolling interest
(8,195
)
-
Other, net
568
(3,901
)
Net cash used in financing activities
(144,274
)
(169,598
)
Effect of foreign exchange rate changes on cash and cash equivalents
(82
)
(196
)
Net increase in cash and cash equivalents
17,866
42,104
Cash and cash equivalents - beginning of period
56,228
29,588
Cash and cash equivalents - end of period
$
74,094
$
71,692
Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes
$
58,763
$
35,402
Cash paid for interest
$
16,448
$
18,036
Non-GAAP Financial Measures
To supplement MSC's unaudited selected financial data presented consistent with accounting principles generally accepted in the United States ("GAAP"), the Company discloses certain non-GAAP financial measures, including non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP incremental operating margin, non-GAAP provision for income taxes, non-GAAP net income and non-GAAP diluted earnings per share, that exclude items such as share reclassification litigation costs, employee retention credit ("ERC") tax benefit, restructuring and other costs, property, plant and equipment asset impairment and loss on sale of property (prior year), and tax effects, as well as free cash flow conversion, which is a measure calculated using free cash flow, which is a non-GAAP measure.
These non-GAAP financial measures are not presented in accordance with GAAP or alternatives for GAAP financial measures and may be different from similar non-GAAP financial measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP financial measure and should only be used to evaluate MSC's results of operations in conjunction with the corresponding GAAP financial measure.
This press release also includes certain forward-looking information that is not presented in accordance with GAAP, including adjusted operating margin and free cash flow conversion. The Company believes that a quantitative reconciliation of such forward-looking information to the most directly comparable financial measures calculated and presented in accordance with GAAP cannot be made available without unreasonable efforts because a reconciliation of these non-GAAP financial measures would require the Company to predict the timing and likelihood of potential future events such as restructurings, M&A activity, capital expenditures and other infrequent or unusual gains and losses. Neither the timing or likelihood of these events, nor their probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of such forward-looking information to the most directly comparable GAAP financial measures is not provided.
Incremental Operating Margin and Adjusted Incremental Operating Margin
The Company defines Incremental Operating Margin as the change in year-over-year Income from Operations as a percentage of the change in year-over-year Net Sales and Adjusted Incremental Operating Margin as Incremental Operating Margin adjusted to exclude such items listed above from Income from Operations. The Company's management believes that Incremental Operating Margin is useful because it shows the direction that operating profit margins are moving as a result of changes in net sales between periods, and that, by excluding the aforementioned items, Adjusted Incremental Operating Margin helps to more clearly show, on a comparable basis between periods, trends in the Company's underlying business and results of operations. The Company believes that investors benefit from seeing results from the perspective of management in addition to seeing results presented in accordance with GAAP for the same reasons and purposes for which management uses such non-GAAP financial measures.
FCF is a non-GAAP financial measure. FCF is used in addition to and in conjunction with results presented in accordance with GAAP, and FCF should not be relied upon to the exclusion of GAAP financial measures. Management strongly encourages investors to review our financial statements and publicly filed reports in their entirety and to not rely on any single financial measure. FCF, which we reconcile to "Net cash provided by operating activities," is cash flow from operations reduced by "Expenditures for property, plant and equipment". We believe that FCF, although similar to cash flow from operations, is a useful additional measure since capital expenditures are a necessary component of ongoing operations. Management also views FCF, as a measure of the Company's ability to reduce debt, add to cash balances, pay dividends, and repurchase stock. FCF has limitations due to the fact that it does not represent the residual cash flow available for discretionary expenditures. For example, FCF does not incorporate payments made on finance lease obligations or required debt service payments. In addition, different companies define FCF differently. Therefore, we believe it is important to view FCF as a complement to our entire consolidated statements of cash flows. FCF Conversion is useful to investors for the foregoing reasons and as a measure of the rate at which the Company converts its net income reported in accordance with GAAP to cash inflows, which helps investors assess whether the Company is generating sufficient cash flow to provide an adequate return.
Results Excluding Share Reclassification Litigation Costs, ERC Tax Benefit, Restructuring and Other Costs, Property, Plant and Equipment Asset Impairment and Loss on Sale of Property (prior year), and tax effects.
In calculating certain non-GAAP financial measures, we exclude items such as share reclassification litigation costs, ERC tax benefit, restructuring and other costs, property, plant and equipment asset impairment and loss on sale of property (prior year), and tax effects.
Management makes these adjustments to facilitate a review of the Company's operating performance on a comparable basis between periods, for comparing with forecasts and strategic plans, for identifying and analyzing trends in the Company's underlying business and for benchmarking performance externally against competitors. We believe that investors benefit from seeing results from the perspective of management in addition to seeing results presented in accordance with GAAP for the same reasons and purposes for which management uses such non-GAAP financial measures.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirteen Weeks Ended May 30, 2026
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Share Reclassification Litigation Costs
ERC Tax Benefit
Adjusted Total MSC Industrial
Net Sales
$
1,047,083
$
-
$
-
$
1,047,083
Cost of Goods Sold
616,678
-
-
616,678
Gross Profit
430,405
-
-
430,405
Gross Margin
41.1
%
-
%
-
%
41.1
%
Operating Expenses
323,660
4,489
-
319,171
Operating Expenses as % of Sales
30.9
%
(0.4)
%
-
%
30.5
%
Income from Operations
106,745
(4,489
)
-
111,234
Operating Margin
10.2
%
0.4
%
-
%
10.6
%
Total Other Expense
(2,501
)
-
5,129
(7,630
)
Income before provision for income taxes
104,244
(4,489
)
5,129
103,604
Provision for income taxes
25,539
(1,100
)
1,256
25,383
Net income
78,705
(3,389
)
3,873
78,221
Net loss attributable to noncontrolling interest
(1,657
)
-
-
(1,657
)
Net income attributable to MSC Industrial
$
80,362
$
(3,389
)
$
3,873
$
79,878
Net income per common share:
Diluted
$
1.44
$
(0.06
)
$
0.07
$
1.43
*Individual amounts may not agree to the total due to rounding.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirty-Nine Weeks Ended May 30, 2026
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Restructuring and Other Costs
Share Reclassification Litigation Costs
ERC Tax Benefit
Property, Plant and Equipment Asset Impairment
Adjusted Total MSC Industrial
Net Sales
$
2,930,541
$
-
$
-
$
-
$
-
$
2,930,541
Cost of Goods Sold
1,729,871
-
-
-
-
1,729,871
Gross Profit
1,200,670
-
-
-
-
1,200,670
Gross Margin
41.0
%
-
%
-
%
-
%
-
%
41.0
%
Operating Expenses
945,570
-
4,540
-
1,890
939,140
Operating Expenses as % of Sales
32.3
%
-
%
(0.2)
%
-
%
(0.1)
%
32.0
%
Restructuring and Other Costs
7,324
7,324
-
-
-
-
Income from Operations
247,776
(7,324
)
(4,540
)
-
(1,890
)
261,530
Operating Margin
8.5
%
0.2
%
0.2
%
-
%
0.1
%
8.9
%
Total Other Expense
(20,000
)
-
-
5,129
-
(25,129
)
Income before provision for income taxes
227,776
(7,324
)
(4,540
)
5,129
(1,890
)
236,401
Provision for income taxes
55,805
(1,794
)
(1,113
)
1,257
(463
)
57,918
Net income
171,971
(5,530
)
(3,427
)
3,872
(1,427
)
178,483
Net loss attributable to noncontrolling interest
(2,679
)
-
-
-
-
(2,679
)
Net income attributable to MSC Industrial
$
174,650
$
(5,530
)
$
(3,427
)
$
3,872
$
(1,427
)
$
181,162
Net income per common share:
Diluted
$
3.12
$
(0.10
)
$
(0.06
)
$
0.07
$
(0.03
)
$
3.24
*Individual amounts may not agree to the total due to rounding.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirteen Weeks Ended May 30, 2026 and May 31, 2025
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Restructuring and Other Costs
Share Reclassification Litigation Costs
Loss on Sale of Property
Adjusted Total MSC Industrial
Net Sales - thirteen weeks ended May 30, 2026
$
1,047,083
-
-
-
$
1,047,083
Net Sales - thirteen weeks ended May 31, 2025
971,145
-
-
-
971,145
Income from Operations - thirteen weeks ended May 30, 2026
106,745
-
(4,489
)
-
111,234
Income from Operations - thirteen weeks ended May 31, 2025
82,735
(2,680
)
(644
)
(1,167
)
87,226
Incremental Operating Margin - thirteen weeks ended May 30, 2026
31.6
%
(3.5)
%
5.1
%
(1.5)
%
31.6
%
*Individual amounts may not agree to the total due to rounding.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirty-Nine Weeks Ended May 30, 2026 and May 31, 2025
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Restructuring and Other Costs
Share Reclassification Litigation Costs
Property, Plant and Equipment Asset Impairment
Loss on Sale of Property
Adjusted Total MSC Industrial
Net Sales - thirty-nine weeks ended May 30, 2026
$
2,930,541
-
-
-
-
$
2,930,541
Net Sales - thirty-nine weeks ended May 31, 2025
2,791,346
-
-
-
-
2,791,346
Income from Operations - thirty-nine weeks ended May 30, 2026
247,776
(7,324
)
(4,540
)
(1,890
)
-
261,530
Income from Operations - thirty-nine weeks ended May 31, 2025
217,261
(6,430
)
(644
)
-
(1,167
)
225,502
Incremental Operating Margin - thirty-nine weeks ended May 30, 2026
21.9
%
0.6
%
2.8
%
1.4
%
(0.8)
%
25.9
%
*Individual amounts may not agree to the total due to rounding.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirteen Weeks Ended May 31, 2025
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Restructuring and Other Costs
Loss on Sale of Property
Share Reclassification Litigation Costs
Adjusted Total MSC Industrial
Net Sales
$
971,145
$
-
$
-
$
-
$
971,145
Cost of Goods Sold
573,406
-
-
-
573,406
Gross Profit
397,739
-
-
-
397,739
Gross Margin
41.0
%
-
%
-
%
-
%
41.0
%
Operating Expenses
312,324
-
1,167
644
310,513
Operating Expenses as % of Sales
32.2
%
-
%
(0.1)
%
(0.1)
%
32.0
%
Restructuring and Other Costs
2,680
2,680
-
-
-
Income from Operations
82,735
(2,680
)
(1,167
)
(644
)
87,226
Operating Margin
8.5
%
0.3
%
0.1
%
0.1
%
9.0
%
Total Other Expense
(7,621
)
-
-
-
(7,621
)
Income before provision for income taxes
75,114
(2,680
)
(1,167
)
(644
)
79,605
Provision for income taxes
18,253
(651
)
(284
)
(156
)
19,344
Net income
56,861
(2,029
)
(883
)
(488
)
60,261
Net income attributable to noncontrolling interest
16
-
-
-
16
Net income attributable to MSC Industrial
$
56,845
$
(2,029
)
$
(883
)
$
(488
)
$
60,245
Net income per common share:
Diluted
$
1.02
$
(0.04
)
$
(0.02
)
$
(0.01
)
$
1.08
*Individual amounts may not agree to the total due to rounding.
MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirty-Nine Weeks Ended May 31, 2025
(In thousands, except percentages and per share data)
GAAP Financial Measure
Items Affecting Comparability
Non-GAAP Financial Measure
Total MSC Industrial
Restructuring and Other Costs
Loss on Sale of Property
Share Reclassification Litigation Costs
Adjusted Total MSC Industrial
Net Sales
$
2,791,346
$
-
$
-
$
-
$
2,791,346
Cost of Goods Sold
1,650,190
-
-
-
1,650,190
Gross Profit
1,141,156
-
-
-
1,141,156
Gross Margin
40.9
%
-
%
-
%
-
%
40.9
%
Operating Expenses
917,465
-
1,167
644
915,654
Operating Expenses as % of Sales
32.9
%
-
%
0.0
%
0.0
%
32.8
%
Restructuring and Other Costs
6,430
6,430
-
-
-
Income from Operations
217,261
(6,430
)
(1,167
)
(644
)
225,502
Operating Margin
7.8
%
0.2
%
0.0
%
0.0
%
8.1
%
Total Other Expense
(29,832
)
-
-
-
(29,832
)
Income before provision for income taxes
187,429
(6,430
)
(1,167
)
(644
)
195,670
Provision for income taxes
45,727
(1,574
)
(285
)
(157
)
47,743
Net income
141,702
(4,856
)
(882
)
(487
)
147,927
Net loss attributable to noncontrolling interest
(1,080
)
-
-
-
(1,080
)
Net income attributable to MSC Industrial
$
142,782
$
(4,856
)
$
(882
)
$
(487
)
$
149,007
Net income per common share:
Diluted
$
2.55
$
(0.09
)
$
(0.02
)
$
(0.01
)
$
2.67
*Individual amounts may not agree to the total due to rounding.
Target letos vzrostl o více než 40 % a výrazně překonává Amazon, Walmart i Costco. Firma po zlepšení tržeb a dostupnosti zboží zvýšila celoroční výhled tržeb o dva procentní body.
In recent years, three major retailers have soared. Walmart, Amazon, and Costco have climbed -- Walmart in the triple-digits and the other two in the double-digits -- as customers rushed to them for deals on their everyday needs as well as discretionary purchases. One big name, however -- another company selling the same product categories – has been missing from that list.
And that was Target (TGT 2.44%). Though Target saw revenue soar in early pandemic days, the company struggled to grow in the years to follow. This happened amid a variety of challenges, from theft in its stores to inventory problems. All of this impacted the stock price, leaving Target down 40% over the past five years.
But this year may mark an important turning point. Longtime Target executive Michael Fiddelke took over the role of chief executive officer and put into place a plan to spark long-term growth. Investors seem to like the progress so far as the stock has soared more than 40% this year -- that's compared to gains of 10% and 3% for Costco and Walmart. And Amazon stock has advanced less than 1%.
How long can Target stock continue to crush its retail peers? Let's find out.
Image source: Getty Images.
Target's tough times As mentioned, Target offered investors a bumpy ride over the past few years. Shoppers complained about long wait times at the register and a lack of certain items in the stores. Theft in some stores also weighed on earnings. Meanwhile, during times of increasing inflation, shoppers more easily turned to value-focused options such as Walmart.
It's important to remember a few very positive points, though. Target grew revenue by more than $20 billion from 2020 through 2022 -- and while it's failed to increase revenue further, it's been able to maintain the gains, with annual revenue of a little over $100 billion.
TGT Revenue (Annual) data by YCharts
Target also made impressive gains in its digital business and in in-store fulfillment -- the company generally relies on its stores to fulfill orders rather than shipping from a warehouse. Finally, Target has built out a solid array of about 40 owned brands -- they bring in more than $30 billion in annual revenue. These are important as owned brands are higher-margin for a retailer than national brands.
All of these points are a great starting point for a turnaround -- and that is what might be taking place right now. Fiddelke's plan involves overhauling in-store displays, strengthening the assortment of products, training employees to deliver a better guest experience, and making more use of technology like AI to improve the overall Target experience.
Today's Change
(
-2.44
%) $
-3.27
Current Price
$
130.65
Target's recent successes In the first quarter, Target reported several successes. Product innovation helped drive revenue growth, generating a 6.7% increase to more than $25 billion. And the retailer saw growth in both physical stores and digital sales -- and growth across all six merchandise categories. The company also reported improvements in product availability in stores.
Based on these results, Target increased its full-year revenue forecast by two percentage points, with expectations for a gain of about 4%. And Target forecasts earnings per share at the high end of its earlier $7.50 to $8.50 range.
The company has noted that the second quarter's comparison period will be more difficult than the "year-earlier" period for the first quarter. And Target also is monitoring consumer sentiment as it remains close to a record low. These elements could prove to be headwinds in the second quarter. Meanwhile, it's important to note that Target is very early in its recovery story, so we could see ups and downs in the months to come -- and it may take a few quarters for Target to deliver significant results.
So, now, let's get back to our question: How long can Target stock continue crushing Amazon, Walmart, and Costco? Target's recovery has a lot farther to go, meaning it's not too late for investors to get in on the stock and ideally accompany Target as it announces progress and earnings growth in the quarters to come.
Meanwhile, Target is considerably cheaper than its retail peers.
TGT PE Ratio (Forward) data by YCharts
All of this supports the idea of buying Target stock right now and holding on as the company's recovery unfolds. And that means Target could easily continue outperforming its fellow retail giants at least in the months to come.
Micron vykázal rekordní tržby 41,4 miliardy USD a EPS 24,67 USD díky silné poptávce po pamětech pro AI. Firma očekává v dalším čtvrtletí další růst na tržby 50 miliard USD a EPS 30,73 USD.
Micron Technology (MU +1.12%) stock has surged more than 800% during the past 12 months on soaring demand for the company's high-bandwidth memory (HBM) for data centers, which has become a key component in the artificial intelligence (AI) hardware stack.
Despite its incredible gains, Micron stock is still technically cheap when valued against its future potential earnings. However, that paints an incomplete picture, especially with some cracks forming in the AI demand landscape. Here's why I won't buy Micron stock for anywhere near its closing price of $1,145 on June 29.
Image source: The Motley Fool.
Micron is playing a critical role in the AI boom Graphics processing units (GPUs), such as those Nvidia supplies, are the primary data center chips used for AI training and inference. HBM stores data in a ready state for when GPUs are ready to process it, which speeds up AI workloads. A low memory capacity would cause bottlenecks, as GPUs would have to pause while waiting to receive more information.
Micron recently started shipping its HBM4 chips, which offer 60% more capacity than its previous HBM3E solution, with a 20% improvement in energy efficiency. Nvidia will use this product in its new Vera Rubin GPU systems, which are expected to lead the industry in terms of AI processing power when they ship to customers in the second half of 2026.
But Micron also has a big opportunity in the personal computing and smartphone segments. AI models are gradually becoming more efficient, so many devices can now run them independently of external data centers, as long as they have a sufficiently high memory capacity. This development is driving a surge in demand for Micron's direct random access memory.
Moreover, Micron says the average vehicle with even basic autonomous capabilities requires more than five times the memory capacity of a traditional vehicle. But it gets better, because the company says humanoid robots need a whopping 10 times more memory than the average autonomous vehicle. As AI seeps into the physical world, these industrial segments could become the next major growth areas for Micron.
Micron's revenue and earnings are skyrocketing Micron generated a record $41.4 billion in revenue during its fiscal 2026 third quarter (ended May 28), a staggering 346% increase from the year-ago period. AI-related memory sales were responsible for the majority of that incredible momentum, across all four of the company's revenue categories:
Segment
Q3 Revenue
Revenue Growth (Year Over Year)
Cloud memory
$13.7 billion
307%
Core data center
$11.5 billion
653%
Mobile and client
$11.5 billion
254%
Automotive and embedded
$4.6 billion
311%
Data source: Micron Technology.
The cloud memory business is where Micron reports sales of its HBM for the data center, while the core data center segment is where it accounts for sales of storage solutions. Together, they accounted for the bulk of the company's total revenue, which isn't surprising given most AI workloads are still processed using centralized infrastructure. However, its results in the mobile and automotive businesses also highlight the impact of AI outside the data center.
Since there is currently a severe shortage of memory worldwide, Micron can dictate prices, and that is significantly boosting its profit margins. As a result, the company's earnings exploded by 1,368% to $24.67 per share in the third quarter.
Management's forecast for the current fourth quarter suggests further momentum lies ahead. The company is expected to generate $50 billion in revenue and earnings of $30.73 per share, representing year-over-year increases of 342% and 985%, respectively.
Micron stock is cheap, but there's a catch Based on Micron's trailing-12-month earnings of $44.23 per share, its stock is trading at a price-to-earnings (P/E) ratio of 25.6. That means it's cheaper than the Nasdaq-100 technology index, which has a P/E ratio of 34.1.
According to Wall Street's average forecast (from Yahoo! Finance), Micron's earnings could soar to $148.03 per share in fiscal 2027, placing its stock at a forward P/E ratio of just 7.6. A company growing as fast as Micron would normally command a premium valuation, so why is it so cheap? Simply put, I think many investors feel the memory boom will be relatively short-lived.
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Most memory suppliers are frantically building more manufacturing capacity, which will eventually cause chip prices to crash. When supply eventually catches up to demand, it will be very hard for Micron to increase its earnings from the current level, so its stock might be more expensive today than its forward P/E suggests.
Micron Chief Executive Officer Sanjay Mehrotra doesn't think the memory shortage will ease until around 2028, but that assumes demand remains as robust as it is now -- which brings me to my next point. A recent survey from investment bank UBS Group found that 60% of companies are starting to curb their AI spending by routing tasks to cheaper models, which use less computing power. That isn't good news for chip suppliers.
The survey follows recent comments by Alphabet CEO Sundar Pichai, who said he was fielding complaints from many of Google's enterprise customers about the rising cost of using AI. In addition, Uber Technologies' chief operating officer recently said AI spending is getting harder to justify, as companies such as Anthropic and even Microsoft implement passive price increases to offset soaring infrastructure costs.
As a result, despite Micron's seemingly attractive valuation, I wouldn't feel comfortable buying it here. Any sign of a slowdown in data center spending during the next few quarters could spark a severe decline in the stock, and I think that is an increasingly likely outcome.
KKR převezme řízení nové korejské platformy pro obnovitelné zdroje společně se SK za 1,3 miliardy USD. Projekt má začít na 1,7 GW a růst až na 10 GW kvůli poptávce po čisté energii pro datacentra s AI a čipy.
U.S. private equity giant KKR will take management control of a new $1.3 billion renewable energy platform in South Korea, deepening its bet on growing demand for clean power from chipmakers and artificial intelligence data centers.
KKR and SK Inc. said Wednesday they will launch what they described as South Korea's largest renewable energy platform, valued at 2 trillion won ($1.3 billion), integrating wind, solar and fuel cell assets previously held across the conglomerate's businesses.
The platform will start with 1.7 gigawatts of operating capacity before scaling to 10 gigawatts — enough to power 100 large-scale, 100-megawatt data centers simultaneously, the companies said in a statement.
KKR will hold initial management control in the venture, bringing together renewable businesses and assets from several subsidiaries under SK Group, including SK Innovation, SK ecoplant, and SK eternix. SK will participate as an equity investor and retains the option to seek control rights through future talks.
The new venture will help South Korea meet the surging demand for clean power from AI data centers, semiconductor production lines, and other large industrial needs, KKR said in a statement.
The announcement came after South Korea announced on Monday three massive investment projects spanning semiconductors, physical AI and AI data centers. SK Group, the country's second-largest conglomerate, said it planned to invest an average of 100 trillion won a year to expand semiconductor production and build AI data centers.
"Korea is one of Asia's most attractive renewable energy markets, underpinned by strong corporate demand for clean power from the semiconductor, data center, and manufacturing sectors," said Keith Kim, a KKR partner.
KKR is funding the deal through its Asia Pacific infrastructure strategy, which has invested more than $31 billion into energy transition and renewables globally since 2011.
The Korea platform adds to KKR's renewable energy portfolio in the region, which includes investments in India-based Serentica Renewables and Australian companies CleanPeak Energy and Zenith Energy.
The deal also came as SK Group continued to push through its years-long "value-up plan," including selling assets and restructuring efforts to reduce debt leverage. SK said the platform is part of a broader effort to sharpen its portfolio and improve capital efficiency.
NiCE spustila program AI Specialization, který oceňuje partnery s prokazatelnými výsledky v AI pro podniky. Mezi prvními jsou Accenture, Cirrus, Deloitte, Route 101 a TTEC.
Six industry-leading partners — Accenture, Cirrus, Deloitte, Route 101, and TTEC — named as inaugural AI Specialization partners under the NiCE 360 Partner Program
HOBOKEN, N.J.--(BUSINESS WIRE)--NiCE (Nasdaq: NICE) today announced the launch of the NiCE AI Specialization Program, a formal, criteria-based recognition within the NiCE 360 Partner Program designed to recognize partners delivering measurable outcomes for enterprise organizations. As part of the launch, NiCE has named six inaugural AI Specialization partners: Accenture, Cirrus, Deloitte, TTEC, and Route 101.
The NiCE AI Specialization Program establishes one of the industry's most rigorous standards for AI delivery. Modeled on industry-recognized frameworks, it gives enterprise buyers a trusted, independently verified way to identify the partners proven to deliver AI at scale, setting a new benchmark for enterprise AI delivery.
“Enterprises are placing significant investment in AI, and they need partners with deep AI skills and experience that provide advisory consulting and implementation services. The NiCE AI Specialization Partner Program sets that standard. It recognizes the partners who have proven they can turn NiCE AI into measurable business outcomes, and gives every enterprise a trusted, independently verified way to choose who to build with,” said Dorothy Copeland, Chief Partner Officer, NiCE.
Every AI Specialization partner is validated against three pillars — People, Practice and Performance — that together prove they can deliver enterprise AI at scale:
People: A bench of certified AI talent, including NiCE Certified AI Engineers (NCAE) at Practitioner level or above, Conversation Designers and dedicated AI Delivery Leads, so that every engagement is backed by credentialed human expertise. Practice: Proven, live deployments across the NiCE AI suite, including Cognigy, Autopilot, Copilot, Auto Summary and Proactive AI, spanning at least three distinct use-case categories and one or more enterprise-scale engagements. Performance: Independently verified business outcomes, including AI-attributed annual contract value (ACV), customer satisfaction (CSAT) scores, net retention and enterprise references that demonstrate measurable impact. "The NiCE AI Specialization affirms our commitment to outcomes over promises. Being part of this first cohort reflects the depth of our certified talent and the impact of the deployments we deliver across the full NiCE AI suite," said Jason Roos, CEO, Cirrus.
“The NiCE AI Specialization recognizes what our clients already experience: a partner that pairs deep NiCE expertise with a relentless focus on outcomes and quality. Being named in this first cohort validates the dedicated certified talent and proven deployments we bring to every engagement,” said Stephan Schuessler, Partner Technology & Transformation, Deloitte Consulting.
"Being named among the first AI Specialization partners reflects the standard we hold ourselves to on every engagement. This recognition is built on certified talent, live deployments, and the measurable outcomes our enterprise clients count on," said Russell Attwood, CEO, Route 101.
"The enterprise market is flooded with AI hype, but technology alone doesn't solve business challenges. True transformation requires connecting advanced tools with a company's broader operational and technology ecosystem. Being recognized as both an inaugural NiCE AI Specialization partner and a Platinum Partner reinforces TTEC Digital’s ability to deliver the deep consulting and end-to-end integration required to make AI work at scale and drive meaningful outcomes," said Chris Brown, President, TTEC Digital.
The AI Specialization Program is the first in a planned roadmap of Specializations under the NiCE 360 Partner Program. NiCE plans to roll out a series of product and vertical-market specializations throughout 2026 and 2027. As the program expands, enterprises will be able to choose partners with deep, validated expertise in their specific industry, pairing proven delivery with the domain knowledge that turns technology into measurable results in their market.
About the NiCE Certified AI Engineer (NCAE) Program
The NCAE program is an individual certification pathway that validates hands-on expertise in designing, deploying, and optimizing enterprise-grade AI agent solutions on the NiCE platform. Credentials are earned by individuals, not partner organizations, through a combination of self-paced learning, instructor-led workshops, and real-world deployment assessments. Levels include Associate, Practitioner, and Expert.
About NiCE
NiCE (Nasdaq: NICE) is transforming the world with AI that puts people first. Our purpose-built AI-powered platforms automate engagements into proactive, safe, intelligent actions, empowering individuals and organizations to innovate and act, from interaction to resolution. Trusted by organizations throughout 150+ countries worldwide, NiCE’s platforms are widely adopted across industries connecting people, systems, and workflows to work smarter at scale, elevating performance across the organization, delivering proven measurable outcomes.
Trademark Note: NiCE and the NiCE logo are trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: www.nice.com/nice-trademarks.
Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Ms. Copeland, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in general economic and business conditions; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; rapid changes in technology and market requirements; the implementation of AI capabilities in certain products and services, decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or effectively integrating acquired operations; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners; cybersecurity attacks or other security incidents; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geopolitical conditions, including those arising from political instability or armed conflict that may disrupt our business and the global economy; our ability to recruit and retain qualified personnel; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.
NiCE zpřístupní své agentické AI řešení na AWS European Sovereign Cloud. Cílí na regulované firmy v EU, které potřebují datovou rezidenci a digitální suverenitu.
NiCE’s CX AI solution supports digital sovereignty and EU data residency requirements
HOBOKEN, N.J.--(BUSINESS WIRE)--NiCE (Nasdaq: NICE) today announced it has been named a launch partner for the Amazon Web Services, Inc. (AWS) European Sovereign Cloud, a new independent cloud for Europe. The announcement marks a further expansion of the strategic relationship between NiCE and AWS, with NiCE making its agentic AI-powered customer experience solution available on the AWS European Sovereign Cloud.
Through this collaboration, organizations will be able to deploy NiCE’s advanced AI capabilities while supporting their data residency, operational autonomy, and digital sovereignty requirements within the European Union (EU). Building on the companies’ previously announced partnership to accelerate AI-powered customer service innovation, this newest alliance extends the reach of NiCE’s agentic AI solution to its growing European customer base, particularly organizations operating in highly regulated industries such as public sector, financial services, and healthcare.
The AWS European Sovereign Cloud is a fully featured, independently operated sovereign cloud backed by strong technical controls, sovereign assurances, and legal protections designed to meet the needs of European governments and enterprises. The AWS European Sovereign Cloud infrastructure is entirely located within the EU and operates independently from existing AWS Regions. Customers using the AWS European Sovereign Cloud benefit from the full power of AWS, including the same service portfolio, security, availability, performance, familiar architecture, APIs, and innovations such as the AWS Nitro System. By making NiCE’s agentic AI solution available on the AWS European Sovereign Cloud, organizations in highly regulated industries can accelerate AI adoption and unlock greater business value while maintaining control over sensitive data and meeting digital sovereignty requirements.
Advancing Agentic AI for Regulated Markets
NiCE is a leader in CX AI, unifying AI agents and human agents to orchestrate intelligent, goal-oriented outcomes across the customer journey. With its agentic AI solution planned for availability on AWS European Sovereign Cloud, European organizations will be able to deploy AI agents, real-time copilots, workflow automation, and AI-powered analytics capabilities in an environment designed to meet digital sovereignty needs and support customer requirements.
For example, a European financial institution could deploy NiCE’s AI agents on AWS European Sovereign Cloud to automate routine service requests, support human agents with real-time guidance, and personalize customer interactions while maintaining operational autonomy and keeping customer data within the EU.
“What sets NiCE apart is enterprise-grade agentic AI engineered for the world’s most regulated organizations, purpose-built with reliability, security, compliance, and privacy that organizations can’t compromise on,” said Dorothy Copeland, Chief Partner Officer at NiCE. “By extending our agentic AI solution to the AWS European Sovereign Cloud, NiCE enables Europe’s most regulated organizations to deploy next-generation AI capabilities on an independent cloud infrastructure located within the EU, supporting their digital sovereignty needs while accelerating AI-first customer experience transformation.”
Supporting Europe’s Digital Sovereignty Priorities
Data governance and compliance remain top priorities for organizations operating under EU regulatory frameworks. NiCE’s sovereign cloud strategy, including existing deployments in the EU, U.K., and Australia, reflects its continued commitment to delivering secure, scalable, AI-driven CX solutions that support customers’ regional and regulatory requirements. The addition of the AWS European Sovereign Cloud gives customers an uncompromising choice: achieving total digital sovereignty while continuing to innovate at pace.
"As AI governance becomes a strategic priority across Europe, sovereign cloud environments are evolving from a compliance requirement to a key enabler of innovation. Organizations increasingly need solutions that not only meet stringent data residency and regulatory obligations, but also deliver the agentic AI, automation, and real-time insights required to transform customer experience,” said Oru Mohiuddin, Research Director, IDC. "The combination of NiCE's agentic AI capabilities with the AWS European Sovereign Cloud addresses a growing market need: enabling regulated organizations to pursue AI-led transformation while maintaining control over data, operations, and governance within the EU."
Thomas Pöppe, CIO, AOK Bayern: “As we operate in an increasingly complex regulatory and competitive environment, especially around the use of AI, we see sovereignty as becoming essential to our long-term AI strategy. The combination of NiCE's agentic AI capabilities and the AWS European Sovereign Cloud offers a compelling path forward, allowing us to innovate while meeting evolving requirements around data residency, governance, and operational control.”
About NiCE
NiCE (NASDAQ: NICE) is transforming the world with AI that puts people first. Our purpose-built AI-powered platforms automate engagements into proactive, safe, intelligent actions, empowering individuals and organizations to innovate and act, from interaction to resolution. Trusted by organizations throughout 150+ countries worldwide, NiCE’s platforms are widely adopted across industries connecting people, systems, and workflows to work smarter at scale, elevating performance across the organization, delivering proven measurable outcomes.
Trademark Note: NiCE and the NiCE logo are trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: www.nice.com/nice-trademarks.
Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Ms. Copeland, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in general economic and business conditions; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; rapid changes in technology and market requirements; the implementation of AI capabilities in certain products and services, decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or effectively integrating acquired operations; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security incidents; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, including those arising from political instability or armed conflict that may disrupt our business and the global economy; our ability to recruit and retain qualified personnel; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.
Sezzle (SEZL +0.48%) has almost tripled year to date as its buy now, pay later platform continues to attract new users and more engagement from existing customers. The fintech company looks like it still has more room to run thanks to solid top-line growth and expanding profit margins.
Image source: Getty Images.
Sezzle is winning over younger generations Sezzle is an alternative to credit cards that splits purchases into interest-free installment plans. It's free for consumers who pay on time, with merchant fees being Sezzle's main revenue engine.
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This setup makes it convenient for younger users looking for ways to make expenses more manageable and who are more comfortable with alternatives to credit. Sezzle told investors that 24.5% of its users are 18-29 years old, with an additional 56.8% of its active customers aged 30-48.
Most of Sezzle's customer base skews younger, which may set the foundation for continued financial outperformance. Revenue increased by 29.2% year over year in the first quarter thanks to that large user base, and those results prompted Sezzle to increase its full-year 2026 guidance across key metrics, like revenue and net income.
The guidance changes were pretty meaningful. Sezzle now anticipates 30% to 35% year-over-year revenue growth throughout 2026, up from its prior guidance of 25% to 30%. These gains are built on a 48.4% year-over-year increase in active subscribers, who get extended payment flexibility, exclusive rewards, and other perks in their monthly plans.
High net income growth supports an attractive valuation Sezzle's high revenue growth also came with even stronger net income growth, with that figure standing at 41.9% year over year in Q1. That growth has resulted in a forward P/E ratio of 19, which presents a good buying opportunity. Sezzle had a forward P/E ratio above 50 just a year ago.
That earnings momentum could continue thanks to Sezzle's new products. Sezzle recently unveiled enhanced long-term lending, a pay-in-5 option, the Sezzle Mobile Plan, and virtual cards in Canada.
The mobile plan is $29.99 per month and is only available to Sezzle Anywhere members who already pay $19.99 per month. These mobile plans help Sezzle integrate itself more into daily spending and may lead to new products in the future.
Sezzle is even in the process of becoming a shopping and engagement platform that uses agentic artificial intelligence to make product recommendations. This strategy could increase how often people use Sezzle, and more engagement often translates into more transactions.
Sezzle combines high growth rates and attractive margins with a reasonable valuation and long-term tailwinds. Even though the fintech stock has rallied considerably, it still looks like a compelling pick.
SpaceX by mohla zhruba do měsíce uskutečnit 13. test Starshipu, což by podpořilo její snahu zlepšit ekonomiku kosmického podnikání. Firma ale zůstává ve ztrátě a ARPU Starlinku klesá.
Space Exploration Technologies' (SPCX +4.06%) recent IPO was a massive success. However, serious questions remain about the company's outlook and its eventual ability to turn a profit. Much of that will depend on SpaceX's biggest growth driver, Starlink, which provides internet connectivity services through a constellation of Low Earth Orbit (LEO) satellites. But SpaceX could also make progress in its space segment, leading to much better margins and profits. And a potential milestone it could reach within 15 days will tell us more about whether SpaceX can meaningfully improve the economics of its space business.
Image source: The Motley Fool.
SpaceX's next-gen rocket SpaceX has transformed the space travel industry thanks to its pioneering work with reusable rockets. But there remains plenty of work to be done. The company's next-gen rocket, Starship, is currently in the test flight phase. Starship is central to SpaceX's long-term ambitions. Unlike the company's already highly successful Falcon 9 rocket, Starship was developed to be fully reusable. It could help decrease launch costs by 95% compared to Falcon 9. Starship is also much taller and has a much larger payload capacity.
SpaceX has completed 12 Starship flight tests, with the latest one introducing the newest version, dubbed V3, of the rocket. Right before the company's IPO about three weeks ago, SpaceX's COO, Gwynne Shotwell, said the 13th Starship flight test would take place in about a month -- which puts us at roughly mid-July at the latest. Shotwell also said she expects regular monthly flights for the rocket thereafter.
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Is SpaceX stock a buy? Another successful Starship flight test would bolster the bull case for SpaceX. However, there are reasons to remain skeptical about the company's future. Here are three of them. First, the company is not consistently profitable. In 2025, it posted a net loss of $4.9 billion, far worse than the $791 million in net income reported in 2024. Unprofitable companies can be attractive if their growth prospects look strong, which brings us to our second point: Average revenue per user (ARPU) within SpaceX's most important segment, Starlink, is declining. In the first quarter of 2026, Starlink's ARPU was $66, down from $86 in Q1 2025, and significantly lower than the $99 it recorded in 2023.
While Starlink subscribers continue to grow at a good clip, the declining ARPU may eventually lead to lower margins, especially as the company starts facing more competition and pricing pressure. One possible solution is for SpaceX to reduce the cost of launching LEO satellites. So the situation is by no means hopeless. Still, investors need to monitor Starlink's declining ARPU. Third, SpaceX might face significant regulatory headwinds over the long run, especially given that it relies on contracts from the U.S. federal government for 20% of its revenue.
So, what's the verdict? SpaceX could deliver life-changing returns if it can make significant progress with Starship and other initiatives, but the stock remains highly risky, especially at current levels. I'd wait for a major pullback before initiating a position.
Samsung, SK Hynix a Micron čelí v USA žalobě kvůli údajnému omezování výroby DRAM a umělému zdražení pamětí. Žalobci tvrdí, že ceny běžné DRAM za čtyři roky vzrostly asi o 700 %.
Samsung Electronics, SK Hynix and Micron are facing a new US class-action lawsuit that puts the memory-chip boom under legal scrutiny.
The case lands at an awkward moment for the industry as AI demand has pushed memory prices sharply higher, data-centre buyers are racing to secure supply, and consumer electronics companies are starting to pass higher costs on to customers.
Now the legal question is whether the world’s three biggest DRAM makers simply followed the same market incentives, or coordinated to squeeze supply and lift prices.
The complaint was filed on June 25 in the US District Court for the Northern District of California.
The case is Garciaguirre et al v Samsung Electronics Co Ltd et al, and it has been assigned to Judge Nathanael M Cousins.
The plaintiffs include 14 consumers and three small businesses involved in PC building and distribution.
They are seeking class-action status, an injunction and treble damages, which means damages could be tripled if the plaintiffs ultimately prove antitrust violations.
The core allegation is simple: Samsung, SK Hynix and Micron allegedly restricted output of conventional DRAM, especially older DDR3 and DDR4 memory, while shifting capacity toward higher-margin high-bandwidth memory, or HBM, used in AI systems.
The plaintiffs argue that the AI pivot became a cover for an artificial shortage in mainstream memory.
Together, the three companies control roughly 90% of the global DRAM market, which is why their production choices matter so much.
The complaint says conventional DRAM prices have risen about 700% over four years.
For readers, this is the legal angle behind a price shock they may already be seeing.
Apple recently raised prices on several MacBook and iPad models, with the MacBook Pro 1TB rising by $300, citing soaring memory and storage costs.
This is not the first time DRAM pricing has attracted antitrust scrutiny.
In the mid-2000s, Samsung and Hynix pleaded guilty in a US Justice Department investigation into DRAM price fixing.
Samsung paid a $300 million criminal fine, while Hynix paid $185 million.
Micron cooperated with the earlier probe and avoided a corporate fine, though one Micron employee later pleaded guilty to obstruction of justice.
That history gives the new lawsuit political and legal weight. But it does not make the current case easy.
A similar class action filed in 2018 against Samsung, SK Hynix and Micron was dismissed in 2020, and the dismissal was upheld by the Ninth Circuit in 2022.
Courts found that the plaintiffs had not shown enough evidence of an actual agreement among the companies.
That distinction matters as in antitrust law, companies can independently make the same business decision if they face the same market conditions.
The legal experts call it parallel conduct.
What plaintiffs usually need to prove is coordination, some form of agreement, communication or shared plan to restrict competition.
The new case tries to clear that hurdle by focusing on the timing of production cuts, the industrywide shift toward HBM, and the sharp rise in conventional DRAM prices.
PowerBank uzavřel se společností Honeywell smlouvu na provoz a údržbu portfolia tří komunitních solárních projektů SB 13-1, SB 13-2 a SB-14 o výkonu 21 MW ve státě New York. Dohoda navazuje na úspěšné zprovoznění projektu SB 13-2.
Agreement confirmed following the successful commercial operation of the SB 13-2 project developed by PowerBank Corporation under an Engineering, Procurement and Construction agreement
, /PRNewswire/ - PowerBank Corporation (NASDAQ: PBK) (Cboe CA: PBK) (FSE: 103) ("PowerBank" or the "Company"), a leader in independent energy development and asset ownership in North America, is pleased to announce its wholly owned subsidiary Abundant Solar Power Inc. has executed an Operations and Maintenance Services Agreement (the "Agreement") with Honeywell International Inc. (NASDAQ: HON) ("Honeywell" or "HON") to provide operations and maintenance services for a 21 MW portfolio of three projects named SB 13-1, SB 13-2, and SB-14 (the "Projects"). The Projects are built on an industrial brownfield owned by Honeywell, which is regulated by the New York State Department of Environmental Conservation. The Projects have been moved from Honeywell International Inc. to Honeywell Aerospace Inc., following the planned spinoff of Honeywell Aerospace on June 29, 2026.
The Agreement outlines the roles, responsibilities, and performance standards governing the long-term management of the Projects. It establishes requirements for routine inspection, maintenance, repair, and operational monitoring to ensure the Projects function effectively and in compliance with applicable regulations. The Agreement also defines reporting obligations, cost responsibilities, and coordination protocols between the parties, while setting clear expectations for environmental protection, safety, and system reliability over the term of the Agreement.
PowerBank's President and Chief Operating Officer Andrew van Doorn commented, "Securing the O&M agreement on the Honeywell portfolio is a natural extension of the work our team has been executing from day one. When you develop, permit, build, and commission a project, you know it better than anyone, and that knowledge is exactly what makes for reliable long-term operations. This agreement reflects the strength of our full-cycle platform, and the trust Honeywell has placed in PowerBank to deliver not just megawatts, but lasting performance."
In September 2023, the Company completed the sale of the Projects to Honeywell and entered into an engineering, procurement, and construction ("EPC") agreement to build the Projects through to commercial operation. The Agreement follows the announcement of the successful commissioning of the SB 13-2 project.
The Agreement for the portfolio of Projects with Honeywell demonstrates PowerBank's vertically integrated business model, offering services across development, EPC, and Operations and Maintenance to provide megawatts of power. Having now developed and constructed over 100 megawatts of clean energy projects across North America, with a pipeline exceeding one gigawatt, PowerBank is increasingly well-positioned to serve not only traditional utility and community solar offtakers, but also the rapidly growing demand for reliable, on-site power generation driven by AI compute infrastructure and modular data centers.
About PowerBank Corporation
PowerBank Corporation is a vertically integrated and independent North American energy company helping to power the digital economy. The Company develops, builds, owns, and operates solar and battery energy storage systems that deliver reliable, resilient, and behind-the-meter power to the electricity grid, commercial and industrial clients, and municipal and residential off-takers. As AI and digital infrastructure drive unprecedented electricity demand, PowerBank is uniquely positioned to deliver the speed, scale, and energy independence that the next generation of power consumers requires, without waiting years for grid interconnection. The Company has a potential development pipeline of over one gigawatt and has developed energy projects with a combined capacity of over 100 megawatts built. To learn more about PowerBank, please visit www.powerbankcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to the Company's expectations regarding its industry trends and overall market growth; the energy capacity of the Projects; the details of the Agreement and its benefits to PowerBank; potential revenues; and the size of the Company's development pipeline. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this news release, the Company has made various material assumptions, including but not limited to: obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; execution of definitive agreements for suitable solar or BESS sites; that power is available to be sufficient to support a modular data center; general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and services offered by the Company's competitors; that the Company's current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements.
Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under "Forward-Looking Statements" and "Risk Factors" in the Company's most recently completed Annual Information Form, and other public filings of the Company, which include: the Company may be adversely affected by volatile solar power market and industry conditions; failure to execute definitive agreements for suitable solar or BESS sites; power availability may not be sufficient to support a modular data center; the execution of the Company's growth strategy depends upon the continued availability of third-party financing arrangements; the Company's future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company's project development and construction activities may not be successful; developing and operating solar Project exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements ("PPAs") and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company's effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company's results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation and tariffs; unexpected warranty expenses that may not be adequately covered by the Company's insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any global pandemic on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings.
The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
Offering to include standard- and micro-sized contracts across 50+ leading U.S. stocks Alphabet, Amazon, Apple, Meta, Nvidia and SpaceX among listed firms , /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced it will launch Single Stock futures across more than 50 of the top U.S. stocks on July 27, pending completion of all regulatory review and processes. This new offering will include 55 larger-sized and 22 Micro-sized futures contracts, providing market participants with additional flexibility to manage their equity exposure.
"Clients want to manage equity price risk with more precision and with the capital efficiencies of a centralized marketplace," said Tim McCourt, Global Head of Equities, FX and Alternative Products at CME Group. "Our new Single Stock futures will simplify access to the most liquid U.S. stocks and enable traders to easily transition between broad market index hedging and targeted single-name exposure."
Demand for equity derivatives continues to grow across both institutional and retail audiences, with new volume and open interest (OI) highs in 2026 including:
Futures and options average daily volume (ADV) of 8.6 million contracts and average OI of 11.7 million contracts. Futures ADV of 7.2 million contracts, up 12% year-over-year, and record average futures OI of 5.4 million contracts. The contracts will be listed on and subject to the rules of CME. For more information on these products, please visit cmegroup.com/ssf.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.
, /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV and HKEX: 9868), a leading global AI mobility technology company, today announced its vehicle delivery results for June and the second quarter of 2026.
XPENG delivered 40,126 vehicles in June 2026, bringing total second-quarter deliveries to 103,295 units. Additionally, deliveries of GX reached 6,739 units in June and the model's 10,000th unit rolled off the production line today.
The Company expects to debut the XPENG MONA L03 in China on July 2, 2026, with presale to commence the same day, followed by a global market launch in July.
XPENG's electric vehicles delivered from January to June 2026 are expected to reduce life-cycle greenhouse gas emissions by more than 2.66 million tons compared to internal combustion engine vehicles — equivalent to the carbon absorption of 43.92 million young trees over 10 years.
About XPENG
XPENG is a leading Chinese Smart EV and NEV company that designs, develops, manufactures, and markets Smart EVs and NEVs that appeal to the large and growing base of technology-savvy middle-class consumers. Its mission is to become a smart technology company trusted and loved by users worldwide. In order to optimize its customers' mobility experience, XPENG develops in-house its full-stack advanced driver-assistance system technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrical/electronic architecture. XPENG is headquartered in Guangzhou, China, with main offices in Beijing, Shanghai, Shenzhen, Silicon Valley, Amsterdam, and Munich. The Company's Smart EVs and NEVs are mainly manufactured at its plants in Zhaoqing and Guangzhou, Guangdong province. For more information, please visit https://www.xpeng.com/.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about XPENG's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG's goal and strategies; XPENG's expansion plans; XPENG's future business development, financial condition and results of operations; the trends in, and size of, China's EV market; XPENG's expectations regarding demand for, and market acceptance of, its products and services; XPENG's expectations regarding its relationships with customers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG's filings with the United States Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Tessenderlo Group's investment reflects its strategy of making cornerstone minority investments in high-quality companies Investment enables FMC to achieve approximately $1 billion debt paydown target FMC concludes strategic options review FMC maintains focus on delivering on its operational and strategic plan , /PRNewswire/ -- FMC Corporation (NYSE: FMC), a leading global agricultural sciences company, and Tessenderlo Group (XBRU: TESB), a Belgian-based industrial group, today announced that they have entered into a definitive agreement under which Tessenderlo Group will make a strategic minority equity investment in FMC Corporation of approximately $400 million USD at a price of $13.30 per share. Upon completion of the transaction, Tessenderlo Group will own approximately 20.0% of the outstanding shares of FMC common stock.
"Our investment in FMC perfectly aligns with Tessenderlo Group's strategy to expand our agro platform through strategic cornerstone investments whereby we take a minority position in high-quality companies. FMC offers an attractive opportunity to invest in a business with meaningful long-term potential driven by a new generation of proprietary molecules that are renewing its portfolio and strengthening its competitive position," said Luc Tack, chief executive officer, Tessenderlo Group.
"This agreement follows a comprehensive and deliberate process, and our Board is confident that entering into this agreement is the best path forward for our company and its shareholders," said Pierre Brondeau, chairman, chief executive officer and president.
This transaction represents the conclusion of the FMC Board of Directors' exploration of strategic options, which was announced in February 2026. FMC intends to use the funds to pay down debt, allowing the Company to reach its approximately $1 billion debt paydown target. With this investment, FMC is well positioned to execute on its operational and strategic plan as an independent company, which includes advancing its R&D pipeline and accelerating the commercialization of its innovations.
In addition to the investment by Tessenderlo Group, over the past several months, FMC has taken a number of steps toward its goals of unlocking capital, sharpening its strategic focus and improving financial flexibility, including:
Amended its Revolving Credit Facility to achieve significant covenant relief; Raised $1.2 billion in a secured high-yield bond offering; Signed an agreement to sell the Company's India commercial business for $252 million; Entered into a strategic supply and license agreement with Corteva, Inc., which includes an initial prepayment of $200 million; and Signed a framework agreement for a $114 million sale & leaseback of its Newark, Delaware property. Brondeau concluded, "We believe the strategic and operational actions taken by FMC over the last several months, combined with our significantly improved leverage and liquidity position, will deliver value to our shareholders, putting FMC on a path to growth as we strongly serve our customers and markets."
The closing of the transaction is subject to customary conditions, including the receipt of regulatory approvals.
BofA Securities and Goldman Sachs & Co. LLC are serving as financial advisors and Davis Polk & Wardwell LLP is serving as legal counsel to FMC Corporation.
Stibbe BV/SRL and Sullivan & Cromwell LLP are serving as legal advisors to Tessenderlo Group NV.
About FMC
FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers and crop advisers to address their toughest challenges economically while protecting the environment. FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn®.
About Tessenderlo Group
Tessenderlo Group is an industrial group that focuses on agriculture, valorising bio-residuals, machinery, mechanical engineering, electronics, energy, and providing industrial solutions with a focus on water. With its headquarters in Belgium, the group is active in over 100 countries and it has a global team of approximately 7,000 employees. Its belief that "Every Molecule Counts" is at the heart of the strategy of the group: Tessenderlo Group continually strives to valorise its products and processes to the maximum and to add value to everything it does. In 2025, Tessenderlo Group recorded a consolidated revenue of 2.8 billion EUR. Tessenderlo Group is listed on Euronext Brussels and is part of the Next 150 and BEL Mid indices. Financial News wires: Bloomberg: TESB BB - Reuters: TESB.BR - Datastream: B:Tes. For more information about Tessenderlo Group, its people, its brands, and its results, please visit www.tessenderlo.com.
FMC Disclaimer
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: FMC and its representatives may from time to time make written or oral statements that are "forward-looking" and provide other than historical information, including statements contained in this press release, information regarding the proposed transaction, the ability to negotiate a leaseback agreement, any impact on FMC's research operations, and the expected timing of and proceeds from the proposed transaction.
In some cases, FMC has identified these forward-looking statements by such words or phrases as "outlook", "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement, including risks relating to the proposed transaction and the risk that the proposed transaction is not successfully completed. These statements are qualified by reference to the risk factors included in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K"), the section captioned "Forward-Looking Information" in Part II of the 2025 Form 10-K and to similar risk factors and cautionary statements in all other reports and forms filed with the Securities and Exchange Commission ("SEC"). We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement.
We specifically decline to undertake any obligation, and specifically disclaims any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.
Tessenderlo Group Disclaimer
This document may contain forward-looking statements. Such statements reflect the views of management regarding future events at the date of this document. Furthermore, they involve known and unknown risks, uncertainties and other factors that may cause actual results to be different from any results, performance or achievements expressed or implied by such forward-looking statements. Tessenderlo Group provides the information in this press release as at the date of publication and, subject to applicable legislation, does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise. Tessenderlo Group disclaims any liability for statements made or published by third parties (including any employees who are not explicitly mandated by Tessenderlo Group) and, subject to applicable legislation, does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release it issues.
American Express umožňuje držitelům karet v USA platit body z programu Membership Rewards přímo přes Apple Pay při online nákupech v aplikacích na iPhonu či iPadu. Body lze použít na celou nebo část platby.
American Express U.S. card members can now use their Membership Rewards points on everyday purchases by redeeming the points directly within Apple Pay’s checkout experience.
This capability is enabled by American Express’ new “Use Pay with Points with Apple Pay” feature, the company said in a Tuesday (June 30) press release.
Eligible card members can pay with points by shopping online or in apps on iPhone or iPad, selecting Apple Pay at checkout, choosing an eligible American Express Membership Rewards card, selecting “Use Rewards,” entering the amount to apply toward the eligible purchase, and completing the Apple Pay transaction, according to the release.
Points can be used to cover all or part of the purchase, per the release.
“Card Members want rewards that fit naturally into how they shop and spend,” Lisa Kalhans, executive vice president of U.S. Consumer Cards at American Express, said in the release. “With this launch, we’re making it easier than ever for Card Members to use Membership Rewards points on the purchases they make every day.”
Jennifer Bailey, vice president of Apple Pay and Apple Wallet at Apple, said in the release that users want choices when shopping online and that the partnership with American Express will provide a new way to redeem rewards.
“The feature makes it incredibly simple and convenient to use points with the seamless, secure experience users know and love from Apple Pay,” Bailey said.
The PYMNTS Intelligence report “Embedded Offers: The Billion-Dollar Opportunity Inside Recent Consumer Spending” found that consumers indicate that convenience is as important as the reward itself and that it’s important to make incentives easy to access.
American Express reported in April that during the first quarter, the company saw steady gains in card spending, broad engagement across categories and a custom base that continues to tilt younger.
In May, American Express expanded further into sports and loyalty with a new partnership that ties payments, rewards and fan engagement together. The company partnered with licensed sports merchandise company Fanatics to launch a co-branded credit card, add sports-focused rewards options and deepen its presence across Fanatics’ commerce and events ecosystem.
Align Technology uvedla, že s Evropskou komisí bude spolupracovat při vyšetřování zahájeném na základě stížnosti konkurenta. Firma obvinění odmítá a tvrdí, že její postupy jsou v souladu s pravidly hospodářské soutěže.
TEMPE, Ariz.--(BUSINESS WIRE)--Align Technology, Inc. (“Align”) (Nasdaq: ALGN), a leading global medical device company that designs, manufactures, and sells the Invisalign® System of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry, today responded to the European Commission’s June 30 press release announcing an investigation involving the Company based on a complaint made by an Align competitor.
Align Technology is committed to conducting business with integrity and in full compliance with global competition laws. We believe fair, lawful competition drives innovation, expands choice, and delivers better outcomes for doctors and patients. Our success in the teeth-straightening market is built on the strength of our products and services — quality, innovation, and customer experience — not on unfair practices, and we strongly dispute any suggestion to the contrary.
Align’s iTero intraoral scanning platform is designed to support an open and diverse digital dental ecosystem, and supports a wide range of clinical workflows, including implants, restorative dentistry, digital orthodontics, and clear aligner treatment. iTero generated scans can be freely exported to order aligners other than Invisalign aligners. Align maintains a scan acceptance policy designed to ensure clinical quality, patient safety, and system reliability, including validation requirements for digital file submissions and the operational resources needed to support consistent processing across workflows.
The iTero intraoral scanning platform is used globally by dental professionals across diverse treatment modalities, with millions of scans performed annually, reflecting its role in enabling a broad and competitive marketplace for digital dentistry solutions. Since 2018, the iTero scanner has been used by healthcare professionals to perform over 24 million restorative, wellness, and orthodontic scans.
The Commission’s step is purely procedural and allows it to gather information. It does not reflect a conclusion on the merits of the case, nor does it constitute an accusation or a finding of wrongdoing. The opening of an investigation does not prejudge its outcome.
Align is confident that any review of Align’s scanner and scan acceptance policies will reflect the robust and dynamic nature of the teeth-straightening market and believes its practices comply with applicable competition laws. We will cooperate fully and engage constructively with the Commission through the appropriate channels.
For nearly 30 years, Align Technology has helped transform a market long dominated by wires and brackets, offering meaningful choices to customers across Europe and around the world. By introducing innovative digital dentistry solutions that expand treatment possibilities for doctors and their patients, Align has helped doctors transform smiles and change lives for millions of patients, a testament to the value of innovation and better patient experience. What began as an innovation has grown into a widely accepted treatment category, one that now extends beyond Invisalign aligners and iTero scanners across a diverse and competitive ecosystem.
About Align Technology, Inc.
Align Technology designs and manufactures the Invisalign® System, the most advanced clear aligner system in the world, iTero™ intraoral scanners and services, and exocad™ CAD/CAM software. These technology building blocks enable enhanced digital orthodontic and restorative workflows to improve patient outcomes and practice efficiencies for approximately 299.5 thousand doctor customers and are key to accessing Align’s 600 million consumer market opportunity worldwide. Over the past 29 years, Align has helped doctors treat approximately 22.8 million patients with the Invisalign System and is driving the evolution in digital dentistry through the Align™ Digital Platform, our integrated suite of unique, proprietary technologies and services delivered as a seamless, end-to-end solution for patients and consumers, orthodontists and GP dentists, and lab/partners. Visit www.aligntech.com for more information.
For additional information about the Invisalign system or to find an Invisalign doctor in your area, please visit www.invisalign.com. For additional information about the iTero digital scanning system, please visit www.itero.com. For additional information about exocad dental CAD/CAM offerings and a list of exocad reseller partners, please visit www.exocad.com.
Invisalign, iTero, exocad, Align, Align Digital Platform and iTero Lumina are trademarks of Align Technology, Inc.
Arch Capital Group (ACGL) klesla o 1,02 % na 97,06 USD, i když S&P 500 vzrostl o 0,79 %. Trh čeká výsledky 28. července 2026; EPS má být 2,46 USD a výnosy 4,6 miliardy USD.
In the latest trading session, Arch Capital Group (ACGL - Free Report) closed at $97.06, marking a -1.02% move from the previous day. This change lagged the S&P 500's 0.79% gain on the day. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, added 1.52%.
Prior to today's trading, shares of the property and casualty insurer had gained 10.5% outpaced the Finance sector's gain of 2.74% and the S&P 500's loss of 1.82%.
Analysts and investors alike will be keeping a close eye on the performance of Arch Capital Group in its upcoming earnings disclosure. The company's earnings report is set to go public on July 28, 2026. It is anticipated that the company will report an EPS of $2.46, marking a 4.65% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.6 billion, down 3.39% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.3 per share and a revenue of $18.2 billion, indicating changes of -5.49% and -3.12%, respectively, from the former year.
Any recent changes to analyst estimates for Arch Capital Group should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% higher. Right now, Arch Capital Group possesses a Zacks Rank of #3 (Hold).
Investors should also note Arch Capital Group's current valuation metrics, including its Forward P/E ratio of 10.54. This represents a discount compared to its industry average Forward P/E of 11.68.
Investors should also note that ACGL has a PEG ratio of 4.9 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Insurance - Property and Casualty stocks are, on average, holding a PEG ratio of 2.45 based on yesterday's closing prices.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 94, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ACGL in the coming trading sessions, be sure to utilize Zacks.com.
Akcie Booz Allen Hamilton uzavřely o 2,19 % níže na 60,67 USD, zatímco trh rostl. Akcie jsou za měsíc dole o 26,2 % před výsledky očekávanými na 24. července 2026.
Booz Allen Hamilton (BAH - Free Report) closed the most recent trading day at $60.67, moving -2.19% from the previous trading session. This change lagged the S&P 500's daily gain of 0.79%. Elsewhere, the Dow saw an upswing of 0.26%, while the tech-heavy Nasdaq appreciated by 1.52%.
Heading into today, shares of the defense contractor had lost 26.2% over the past month, lagging the Business Services sector's loss of 0.14% and the S&P 500's loss of 1.82%.
The upcoming earnings release of Booz Allen Hamilton will be of great interest to investors. The company's earnings report is expected on July 24, 2026. The company's earnings per share (EPS) are projected to be $1.49, reflecting a 0.68% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.8 billion, indicating a 4.24% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $6.23 per share and a revenue of $11.41 billion, demonstrating changes of -4.3% and +1.74%, respectively, from the preceding year.
Any recent changes to analyst estimates for Booz Allen Hamilton should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.43% fall in the Zacks Consensus EPS estimate. Booz Allen Hamilton presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Booz Allen Hamilton is presently trading at a Forward P/E ratio of 9.95. Its industry sports an average Forward P/E of 11.13, so one might conclude that Booz Allen Hamilton is trading at a discount comparatively.
Investors should also note that BAH has a PEG ratio of 3.54 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Consulting Services industry currently had an average PEG ratio of 0.9 as of yesterday's close.
The Consulting Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Nejvyšší soud USA přijal odvolání Apple v právním sporu s Epic Games kvůli tomu, zda firma porušila soudní příkaz ohledně App Store. Případ se má projednat v říjnovém termínu soudu.
The Supreme Court agreed Tuesday (June 30) to hear Apple’s appeal of a lower court ruling that found the company in contempt in its legal battle with Epic Games, Reuters reported Tuesday (June 30).
The ruling that Apple was in contempt came because the judge found that the company violated a judicial order requiring it to make extensive changes to its app store after Epic Games brought an antitrust action against the company, according to the report.
PYMNTS reported in April that the court battle began in 2020 over whether Epic Games could add external payments in its app, enabling the company to bypass the fees charged by Apple’s App Store.
According to the Tuesday report, Apple has argued that it cannot be held in contempt for violating the “spirit” of a court injunction, as opposed to an express provision, and the company has denied that it violated any earlier court orders.
The Supreme Court is expected to hear the case during its term that begins in October, per the report.
Ars Technica reported Tuesday that when announcing it would hear the appeal, the Supreme Court said it would consider “whether a court may hold a party in civil contempt based on a violation of an injunction’s ‘spirit’ where the injunction is silent as to the conduct upon which contempt is based, as the Ninth Circuit holds; or, instead, whether a court must ground a finding of civil contempt on the violation of an order that clearly and unambiguously proscribes the precise conduct at issue, as other circuits hold.”
Apple told Reuters: “This is an important question of law, and we are pleased the Supreme Court will hear our case.”
Epic Games said in a Tuesday post on X: “We’re heading to the Supreme Court where we’ll continue our fight against junk fees Apple charges on third-party payments. Lower courts have rightly found Apple’s fees to be illegal and anticompetitive and we’ll continue to defend free markets.”
Microsoft chystá další kolo propouštění, které zasáhne tisíce míst včetně prodejního oddělení, poradenství a divize Xbox. Opatření má být menší než loňské a bude se týkat méně než 2,5 % z 220 000 zaměstnanců.
Microsoft CEO Satya Nadella. JASON REDMOND/AFP via Getty Images Microsoft is planning to announce job cuts soon as the tech giant continues efforts to control costs, according to people familiar with the situation.
The cuts are expected to impact thousands of roles, including sales and consulting, in addition to jobs at the Xbox gaming division, the people said.
This round will be smaller than similar layoffs last year. This time, the cuts will be less than 2.5% of the company's 220,000-person workforce, the people added. They asked not to be identified discussing sensitive matters.
The company is planning to announce the layoffs next week, although the exact timing could change. Some affected employees will be offered new roles immediately, one of the people said.
In previous years, Microsoft has sometimes cut jobs around the start of its new fiscal year on July 1. Last year, the company eliminated 6,000 roles in May and an additional 9,000 employees, or about 4% of the company's workforce, in July.
The plans underscore Microsoft's moves to rein in costs as it ramps up spending on AI. The company has also been under pressure from Wall Street over concern that AI could replace software services, including, in theory, some Microsoft offerings. The stock has slumped about 17% in the past month.
Microsoft earlier this year announced a voluntary retirement program offering buyouts to employees level 67 and below in the US who had 70 or more years of age and service. About 7% of Microsoft's 125,000 US workforce, or nearly 9,000 employees, was eligible.
About one-third of eligible employees took the buyout, in line with expectations, one of the people said. That allowed Microsoft to cut a lower percentage of its workforce compared to last year, this person added.
Sales employees with commission-based compensation were excluded from this retirement buyout offer, according to an internal document viewed by Business Insider.
Xbox layoffs have been expected since new gaming CEO Asha Sharma sent a memo to employees calling for a "reset" for this business.
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Nike (NKE - Free Report) came out with quarterly earnings of $0.2 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to earnings of $0.14 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +82.48%. A quarter ago, it was expected that this athletic apparel maker would post earnings of $0.29 per share when it actually produced earnings of $0.35, delivering a surprise of +20.69%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Nike, which belongs to the Zacks Shoes and Retail Apparel industry, posted revenues of $10.97 billion for the quarter ended May 2026, surpassing the Zacks Consensus Estimate by 1.13%. This compares to year-ago revenues of $11.1 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Nike shares have lost about 34.9% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for Nike?While Nike has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Nike was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.46 on $11.42 billion in revenues for the coming quarter and $1.83 on $46.57 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Shoes and Retail Apparel is currently in the top 44% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Steven Madden (SHOO - Free Report) , is yet to report results for the quarter ended June 2026.
This footwear and accessories retailer is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of +55%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Steven Madden's revenues are expected to be $629.57 million, up 12.6% from the year-ago quarter.
Netflix (NFLX - Free Report) closed at $71.40 in the latest trading session, marking a -3.23% move from the prior day. This change lagged the S&P 500's 0.79% gain on the day. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, added 1.52%.
The internet video service's stock has dropped by 14.06% in the past month, falling short of the Consumer Discretionary sector's loss of 0.73% and the S&P 500's loss of 1.82%.
Analysts and investors alike will be keeping a close eye on the performance of Netflix in its upcoming earnings disclosure. The company's earnings report is set to go public on July 16, 2026. The company is forecasted to report an EPS of $0.79, showcasing a 9.72% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $12.57 billion, showing a 13.48% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $3.6 per share and a revenue of $51.41 billion, demonstrating changes of +42.29% and +13.77%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Netflix. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Netflix currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Netflix is holding a Forward P/E ratio of 20.5. This indicates a premium in contrast to its industry's Forward P/E of 13.04.
It is also worth noting that NFLX currently has a PEG ratio of 0.94. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Broadcast Radio and Television industry currently had an average PEG ratio of 1.09 as of yesterday's close.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 106, placing it within the top 44% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NFLX in the coming trading sessions, be sure to utilize Zacks.com.
Šéf Micronu Sanjay Mehrotra uvedl, že tvrdé vyjednávání zákazníků o cenách přispělo k nedostatku paměťových čipů a k podinvestování odvětví před boomem AI. Micron proto dál investuje zhruba 200 miliard USD do výroby a vývoje.
Micron CEO Sanjay Mehrotra said Tuesday that memory chipmakers aren't the only ones to blame for the current supply-and-demand imbalance, which has recently led to price hikes for smartphones, computers and other consumer electronics.
Customers who drove a hard bargain in pricing in recent years also contributed to the squeeze, Mehrotra argued, suggesting that left the industry underinvested for the artificial intelligence boom.
"Certain customers drove pricing significantly down in our industry," Mehrotra told Jim Cramer on CNBC's "Mad Money" on Tuesday. "In 2023, our prices came down to one-third of what they were."
The collapse in pricing, Mehrotra said, pushed Micron and other memory suppliers into negative gross margins, leaving much of the industry without the financial flexibility to invest in new manufacturing capacity just as artificial intelligence-driven demand began accelerating. Micron's gross margin fell to negative 7.3% in its fiscal 2023, which ended in August of that year, according to FactSet.
"Companies were losing money. They couldn't afford it," he said. "That really impacted the investment capability of the industry."
Micron continued investing through the downturn, the CEO said. "Of course, those investments were significantly cut back from the year prior." Micron's capital expenditures fell to $7.7 billion in fiscal 2023, down from $12.1 billion in the prior year.
AI-driven demand for memory chips has steadily increased since that 2023 downturn in pricing. The acceleration became more apparent last year, boosting Micron's financial performance. But it has gone to another level in 2026, propelling Micron into one of the stock market's biggest winners. The stock climbed more than 240% in the second quarter and added more than $920 billion in market value, putting Micron's market capitalization at roughly $1.3 trillion.
Mehrotra said that the supply crunch is likely to persist well beyond 2027 because new semiconductor fabrication plants take years to build and next-generation memory has become significantly more complex to manufacture. To help close the gap, Mehrotra said Micron is investing roughly $200 billion in manufacturing and R&D, including new memory fabs in Boise, Idaho and Syracuse, New York. The Boise project is furthest along, the CEO said, with the first chips due out "in the middle of next year" and increasing from there. The Boise site is slated to eventually include two fabs.
The shortage is already being felt beyond the semiconductor industry. Last week, Apple raised prices on several Mac and iPad models after CEO Tim Cook said soaring memory and storage costs had become "unavoidable," underscoring how AI-driven demand is pushing higher component costs into consumer electronics.
In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $48.57, marking a -1.06% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.79% for the day. Meanwhile, the Dow experienced a rise of 0.26%, and the technology-dominated Nasdaq saw an increase of 1.52%.
The oil and gas exploration and production company's stock has dropped by 16.68% in the past month, falling short of the Oils-Energy sector's loss of 4.84% and the S&P 500's loss of 1.82%.
The investment community will be paying close attention to the earnings performance of Occidental Petroleum in its upcoming release. In that report, analysts expect Occidental Petroleum to post earnings of $1.85 per share. This would mark year-over-year growth of 374.36%. Meanwhile, our latest consensus estimate is calling for revenue of $7.23 billion, up 11.96% from the prior-year quarter.
OXY's full-year Zacks Consensus Estimates are calling for earnings of $5.95 per share and revenue of $25.57 billion. These results would represent year-over-year changes of +169.23% and +0.5%, respectively.
It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.08% higher. Occidental Petroleum currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Occidental Petroleum is currently exchanging hands at a Forward P/E ratio of 8.25. This expresses a discount compared to the average Forward P/E of 18.15 of its industry.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Intuit (INTU - Free Report) closed at $261.00 in the latest trading session, marking a -2.03% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.79% for the day. Meanwhile, the Dow experienced a rise of 0.26%, and the technology-dominated Nasdaq saw an increase of 1.52%.
The maker of TurboTax, QuickBooks and other accounting software's stock has dropped by 24.7% in the past month, falling short of the Computer and Technology sector's loss of 4.61% and the S&P 500's loss of 1.82%.
The upcoming earnings release of Intuit will be of great interest to investors. It is anticipated that the company will report an EPS of $3.59, marking a 30.55% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.27 billion, up 11.55% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $23.86 per share and revenue of $21.37 billion, which would represent changes of +18.41% and +13.48%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Intuit. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.08% rise in the Zacks Consensus EPS estimate. Intuit currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Intuit has a Forward P/E ratio of 11.16 right now. This signifies a discount in comparison to the average Forward P/E of 14.73 for its industry.
Investors should also note that INTU has a PEG ratio of 0.74 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Computer - Software industry stood at 1.28 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 106, finds itself in the top 44% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
, /PRNewswire/ -- Extra Space Storage Inc. (the "Company") (NYSE: EXR) announced today it will release financial results for the three and six months ended June 30, 2026, on Tuesday, July 28, 2026, after the market closes. The Company will host a conference call at 1:00 p.m. Eastern Time on Wednesday, July 29, 2026, to discuss its financial results. Hosting the call will be Extra Space Storage's CEO, Joe Margolis. Joining him will be Noah Springer, President and Jeff Norman, Executive Vice President and CFO.
During the conference call, company officers will review operating performance, discuss recent events, and conduct a question-and-answer period. The question-and-answer period will be limited to registered financial analysts. All other participants will have listen-only capability.
To Participate in the Conference Call:
A live webcast of the conference call will be available online from the investor relations page of the Company's corporate website at www.extraspace.com. Telephone participants may avoid delays in joining the conference call by pre-registering for the call using the following link to receive a special dial-in number and PIN: https://events.q4inc.com/analyst/293950168?pwd=CHtG2oiN
The conference call will also be available on the Company's website under Investor Relations at www.extraspace.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software.
Conference Call Playback:
A replay of the webcast will be available on the Extra Space Storage Investor Relations website beginning July 29, 2026, at 5:00 p.m. ET, and will remain available for one year after the call.
Full Text of the Earnings Report and Supplemental Data
The full text of the earnings report and supplemental data will be available at the Company's investor relations website immediately following the earnings release to the wire services after the market close on Tuesday, July 28, 2026.
About Extra Space Storage Inc.
Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of March 31, 2026, the Company owned and/or operated 4,344 self-storage stores in 42 states and Washington, D.C. The Company's stores comprise approximately 3.0 million units and approximately 335.6 million square feet of rentable space operating under the Extra Space brand. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self-storage properties in the United States.
For more information, please visit www.extraspace.com.
Roblox čelí hromadné žalobě po prudkém zpomalení meziročního i mezikvartálního růstu denních aktivních uživatelů a snížení výhledu tržeb i bookings. Akcie spadly o 18 % a tržní kapitalizace se propadla o více než 6,7 miliardy USD.
SAN FRANCISCO, June 30, 2026 (GLOBE NEWSWIRE) -- Roblox Corporation (NYSE: RBLX) faces a securities class action lawsuit after its April 30, 2026 Q1 2026 report indicating a surprisingly large sequential decline in daily active users (“DAUs”) tempered by its age-check rollout. The news drove the price of Roblox shares down $10.13 (-18%) the next trading day and erased over $6.7 billion from the company’s market capitalization.
The lawsuit seeks to represent investors who purchased or otherwise acquired Roblox common stock between October 30, 2025 and April 30, 2026.
National shareholder rights firm Hagens Berman is investigating the legal claims that Roblox and its co-defendants violated the federal securities laws. The firm encourages Roblox investors who suffered substantial losses to submit your losses now.
Class Period: Oct. 30, 2025 – Apr. 30, 2026
Lead Plaintiff Deadline: Aug. 7, 2026
Visit: www.hbsslaw.com/investor-fraud/rblx
Contact the Firm Now: [email protected]
844-916-0895
Roblox Corporation (RBLX) Securities Class Action:
The primary focus of the litigation is on the propriety of Roblox’s disclosures about the impact on its business and prospects of the age-check verification rollout aimed at increasing safety within certain social features on its platform. The rollout began in November 2025.
Throughout the Class Period, Roblox has characterized its rollout as the “gold standard” intended to be implemented with “no friction.” The company has also touted its high year-over-year DAU growth and related revenue and bookings growth.
As recently as February 5, 2026, during Roblox’s Q4 2025 earnings call, CEO David Baszucki responded to an analyst’s question about additional detail about the age-check rollout, assuring investors that “[w]e’re very excited and proud of the way our age verification rollout has gone” and “we found so many other opportunities for optimization that I’m very pleased and happy about the way the rollout has gone.”
The complaint alleges that Roblox made false and misleading statements while failing to disclose important information to investors about the true state of the company’s growth potential. More specifically, the complaint alleges that Roblox would see significant growth slowdown as enrollments in its age-check rollout would quickly taper, compounding the resulting slowdown in on-line platform communication and resulting in app store rating reductions and a swift reduction in organic growth.
The truth entered the market on April 30, 2026. That day, Roblox reported its Q1 2026 financial results, revealed a steep deceleration in year-over-year and sequential DAU growth, slashed its 2026 revenue guidance (reflecting ongoing shrinkage in DAU growth), and severely cut its 2026 bookings growth midpoint from 24% to just 10%.
The company blamed its adverse situation on just 51% of Roblox global DAUs having age checked and further revealed that “as a result of age check […] we have seen a reduction in app store ratings, and we believe this may be contributing to a reduction in organic sign-ups that typically flow from app stores.” Roblox also said its lowered prospects are the result of “continued friction” resulting from the age-check rollout.
“We’re focused on when Roblox and its management knew of the adverse consequences of the age-check rollout and whether they intentionally misled investors,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.
If you invested in Roblox and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now.
If you’d like more information and answers to other frequently asked questions about the Roblox case and the firm’s investigation, read more.
Whistleblowers: Persons with non-public information regarding Roblox should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected] .
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.
Allstate (ALL - Free Report) ended the recent trading session at $237.94, demonstrating a -1.43% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.79%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, added 1.52%.
The insurer's shares have seen an increase of 16.49% over the last month, surpassing the Finance sector's gain of 2.74% and the S&P 500's loss of 1.82%.
Market participants will be closely following the financial results of Allstate in its upcoming release. It is anticipated that the company will report an EPS of $4.9, marking a 17.51% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $17.73 billion, showing a 5.66% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $29.75 per share and revenue of $71.56 billion, indicating changes of -14.59% and +5.46%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Allstate. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.08% higher. Allstate currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Allstate is holding a Forward P/E ratio of 8.11. This indicates a discount in contrast to its industry's Forward P/E of 11.68.
Investors should also note that ALL has a PEG ratio of 0.43 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Insurance - Property and Casualty industry stood at 2.45 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 94, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Cameco uzavřela na 101,86 USD, což je pokles o 1,56 % a zaostání za růstem širšího trhu. Před zveřejněním výsledků trh čeká EPS 0,36 USD a výnosy 534,36 mil. USD.
In the latest trading session, Cameco (CCJ - Free Report) closed at $101.86, marking a -1.56% move from the previous day. This change lagged the S&P 500's 0.79% gain on the day. On the other hand, the Dow registered a gain of 0.26%, and the technology-centric Nasdaq increased by 1.52%.
Heading into today, shares of the uranium producer had lost 8.1% over the past month, lagging the Oils-Energy sector's loss of 4.84% and the S&P 500's loss of 1.82%.
Market participants will be closely following the financial results of Cameco in its upcoming release. The company's upcoming EPS is projected at $0.36, signifying a 29.41% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $534.36 million, showing a 15.69% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.21 per share and revenue of $2.39 billion, which would represent changes of +17.48% and -4.07%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cameco. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.69% downward. Currently, Cameco is carrying a Zacks Rank of #3 (Hold).
Investors should also note Cameco's current valuation metrics, including its Forward P/E ratio of 85.75. This valuation marks a premium compared to its industry average Forward P/E of 17.88.
One should further note that CCJ currently holds a PEG ratio of 1.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Alternative Energy - Other industry had an average PEG ratio of 2.1 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 33% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Invitation Homes upsala veřejnou emisi seniorních nezajištěných dluhopisů za 500 milionů USD s kupónem 4,950 % splatných 1. února 2032. Čistý výnos hodlá použít na obecné firemní účely, včetně splácení dluhu.
DALLAS--(BUSINESS WIRE)--Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes,” the “Company,” or “our”) announced today that its operating partnership, Invitation Homes Operating Partnership LP (the “Operating Partnership”), has priced a public offering of $500 million aggregate principal amount of 4.950% Senior Notes due 2032 (the “Notes”). The Notes were priced at 99.291% of the principal amount and will mature on February 1, 2032. The offering is expected to close on July 8, 2026, subject to the satisfaction of customary closing conditions. The Notes will be fully and unconditionally guaranteed, jointly and severally, by the Company, Invitation Homes OP GP LLC, and IH Merger Sub, LLC.
The Operating Partnership intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of indebtedness.
Wells Fargo Securities, KeyBanc Capital Markets, Mizuho, US Bancorp, BofA Securities, Capital One Securities, Deutsche Bank Securities, J.P. Morgan Securities LLC, PNC Capital Markets LLC and Truist Securities are acting as the joint book-running managers of the offering. BMO Capital Markets, M&T Securities, BNP PARIBAS, Goldman Sachs & Co. LLC, Morgan Stanley, RBC Capital Markets, Regions Securities LLC, Ramirez & Co., Inc., BNY Capital Markets, Citigroup, Huntington Capital Markets, Scotiabank and Zelman Partners LLC are acting as the co-managers of the offering.
The offering is being made pursuant to an effective shelf registration statement filed by the Company, the Operating Partnership, Invitation Homes OP GP LLC, and IH Merger Sub, LLC with the Securities and Exchange Commission (the “SEC”). A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. When available, a copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from: Wells Fargo Securities, LLC, toll-free: 1-800-645-3751; KeyBanc Capital Markets Inc., toll-free: 1-866-277-6479; Mizuho Securities USA LLC, toll-free: 1-866-271-7403; and U.S. Bancorp Investments, Inc., toll-free: 1-877-558-2607; or by visiting the EDGAR database on the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Invitation Homes
Invitation Homes, an S&P 500 company, is the nation’s premier single-family home leasing and management company, helping to expand housing through new development and strategic partnerships. Our purpose, Unlock the Power of Home™, reflects our commitment to address America’s housing needs by delivering high-quality living solutions and Genuine CARE™ to those who choose the flexibility and value of leasing.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which include, but are not limited to, statements related to the Company’s expectations regarding the performance of the Company’s business, its financial results, its liquidity and capital resources and the use of the net proceeds from the offering, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “guidance,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties that may impact our financial condition, results of operations, cash flows, business, associates, and residents, including, among others, risks inherent to the single-family rental industry and the Company’s business model, macroeconomic factors beyond the Company’s control, federal, state, and local laws, regulations, executive actions, and policy initiatives, competition in identifying and acquiring properties, competition in the leasing market for quality residents, increasing property taxes, homeowners’ association fees and insurance costs, poor resident selection and defaults and non-renewals by the Company’s residents, the Company’s dependence on third parties for key services, risks related to the evaluation of properties, performance of the Company’s information technology systems, development and use of artificial intelligence, risks related to the Company’s indebtedness, risks related to the potential negative impact of fluctuating global and United States economic conditions (including inflation and imposition or increase of tariffs and trade restrictions by the United States and foreign countries), uncertainty in financial markets (including as a result of events affecting financial institutions), geopolitical tensions, natural disasters, climate change, and public health crises. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include, but are not limited to, those described under Part I. Item 1A. “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (the “Annual Report”), as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC’s website at https://www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release, in the Annual Report, and in the Company’s other periodic filings. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except to the extent otherwise required by law.
