Oklo (OKLO 1.24%) is chasing one of the biggest opportunities in AI infrastructure: reliable power. As data centers strain the grid, Oklo's smaller nuclear powerhouses, long-term customer agreements, and recycled fuel strategy could make it a compelling energy story. But the upside still depends on licensing, fuel, construction, and execution.
Stock prices used were the market prices of June 23, 2026. The video was published on July 2, 2026.
Rick Orford has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Rick Orford is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
July 06, 2026 10:07 ET | Source: Brookfield Asset Management Ltd
NEW YORK, July 06, 2026 (GLOBE NEWSWIRE) -- Brookfield Asset Management Ltd. today announced it will host its second quarter 2026 conference call and webcast on Wednesday, August 5, 2026, at 10:00 a.m. ET.
Results will be released that morning prior to 7:00 a.m. ET and will be available on our website at www.bam.brookfield.com/news-events/press-releases.
Participants can join by conference call or webcast:
Conference Call
Please pre-register by conference call:
https://register-conf.media-server.com/register/BI25c79b4fce1542938abfce53ebcca730
Upon registering, you will be emailed a dial-in number, and unique PIN. This process will bypass the operator and avoid the queue. Webcast
Please join and register by webcast: https://edge.media-server.com/mmc/p/bqd6oehs About Brookfield Asset Management
Brookfield Asset Management Ltd. (NYSE: BAM, TSX, BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, energy, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield’s heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles.
For more information, please visit our website at www.bam.brookfield.com.
Media:
Simon Maine
Tel: (332) 298-0447
Email: [email protected] Investor Relations:
Jason Fooks
Tel: (212) 417-2442
Email: [email protected]
Wolfgang Schmidt brings deep governance expertise as Planet scales AI-enabled solutions and builds its advanced satellite manufacturing facility in Berlin
BERLIN--(BUSINESS WIRE)--Planet Labs Germany, a leading provider of daily data and insights about change on Earth, today announced the appointment of Wolfgang Schmidt, former German Federal Minister for Special Affairs and Head of the Federal Chancellery, to its European Advisory Board. He joins the board at a pivotal moment as Planet expands its presence in Europe and advances plans for a new satellite manufacturing facility in Berlin, reinforcing Germany’s growing role in Europe’s New Space ecosystem and Planet’s long-term commitment to the region. The Berlin facility will serve as Planet’s European center for advanced satellite manufacturing.
Wolfgang Schmidt’s extensive knowledge of the German, European and international political landscape, as well as his long tenure in leadership positions, will support Planet as it expands across the continent. In addition to his role as head of the Chancellery, Wolfgang also oversaw the intelligence services of the Federal level in Germany.
"We are privileged to welcome Wolfgang Schmidt to our European Advisory Board during a period of significant operational momentum for Planet in Europe," said Will Marshall, Co-Founder and CEO of Planet. “Wolfgang’s direct help facilitating our partnership with Ukraine supported by Germany, his experience leading the Germany Chancellery, and his deep expertise in European policymaking and international affairs will be invaluable particularly as we expand our manufacturing in Germany, underscoring our deep commitment to Germany and Europe."
Martin Polak, Managing Director of Planet Labs Germany, added: “Berlin is becoming the increasingly important hub for Planet’s activities in Europe. Our investment in satellite manufacturing reflects a long-term commitment to Germany’s growing role in the New Space ecosystem and to strengthening Europe’s industrial capabilities in Earth observation.”
"Planet’s capability to deliver daily, objective insights about our changing world has made it an indispensable platform for global security as I saw first hand with their work in Ukraine whilst I was in Government," said Wolfgang Schmidt. "I look forward to working with the leadership team to support Planet's long-term engagement and collaboration with institutions and partners in Germany and across Europe towards greater security and sustainability."
The European Advisory Board is instrumental in guiding Planet’s strategic expansion in Europe, meeting the needs of its growing European customer base, and helping navigate the evolving European policy landscape. Wolfgang Schmidt joins current European Advisory Board members: Carl Bildt, Cochair, European Council on Foreign Relations & Former Prime Minister of Sweden; Dr. Neelie Kroes, Former Vice President of the European Commission; David Miliband, CEO of the International Rescue Committee (IRC) & Former Foreign Minister of the UK; Oleksii Reznikov, Former Minister of Defence, Ukraine; and Dr. Thomas Zurbuchen, Director of ETH Zurich and Former Head of Science at NASA.
Learn more about the European Advisory Board’s mission and members.
About Planet
Planet Labs Germany GmbH is part of the Planet group and is based at Planet’s European headquarters in Berlin. Planet Labs PBC (NYSE: PL) is the parent company of the Planet group with global headquarters in San Francisco, USA. Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet Labs PBC is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X, LinkedIn, or tune in to HBO’s ‘Wild Wild Space’.
Forward-looking Statements
Certain statements contained in this press release are “forward-looking statements” about Planet within the meaning of the securities laws, including statements about Planet’s strategic partnerships and Planet’s future growth in new and existing markets. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Planet’s filings with the Securities and Exchange Commission. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.
NEW YORK--(BUSINESS WIRE)--Klarna (NYSE: KLAR), the global digital bank and flexible payments provider, today announced it has submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) to establish Klarna Bank USA, a proposed Utah-chartered industrial bank. Klarna has operated as a licensed bank in Europe since 2017 and serves U.S. customers through valued partner banks. Since 2019, Klarna has provided Americans with access to o.
In the news release, Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 5.74 Million Tokens, and Total Crypto and Total Cash Holdings of $11.1 Billion, issued 06-Jul-2026 by Bitmine Immersion Technologies, Inc. over PR Newswire, we are advised by the company that an edit has been made. The complete, corrected release follows:
Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 5.74 Million Tokens, and Total Crypto and Total Cash Holdings of $11.1 BillionBitmine owns 4.8% of the total ETH coin supply of 120.7 million
Bitmine is 95% of the way to the 'Alchemy of 5%' in just 12 months
Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026
Bitmine's Series A Preferred Stock is trading on the NYSE under the symbol BMNP
Bitmine has 4,879,157 staked ETH, representing $8.8 billion at $1,800 per ETH. MAVAN (Made in America VAlidator Network) is a premier Ethereum staking destination for BMNR and institutional investors
Bitmine owns $71 million of Eightco (NASDAQ: ORBS), now one of the only publicly listed equities in the world to provide investors indirect exposure to OpenAI
Bitmine Crypto + Total Cash Holdings & Marketable Securities + "Moonshots" total $11.1 billion, including 5.74 million ETH tokens, total cash & marketable securities of $527 million, and other crypto holdings
Bitmine remains supported by a premier group of institutional investors including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas "Tom" Lee to support Bitmine's goal of acquiring 5% of ETH
, /PRNewswire/ -- (NYSE: BMNR) Bitmine Immersion Technologies, Inc. ("Bitmine" or the "Company") a Bitcoin and Ethereum Network company with a focus on the accumulation of crypto for long term investment, today announced Bitmine crypto + total cash & marketable securities + "moonshots" holdings totaling $11.1 billion.
Weekly Update
ETH/BTC RATIO: Clarity Act odds rise = "real world" use cases for ETH
STAKING: BMNR now staking over 4.8 Million ETH as of July 5, 2026
ALCHEMY OF 5%: BMNR ranked #233 by avg daily $ volume As of July 5, 2026 at 6:30pm ET, the Company's crypto holdings are comprised of 5,742,237 ETH at $1,800 per ETH (per CoinbaseNASDAQ: COIN), 206 Bitcoin (BTC), $180 million stake in Beast Industries, $71 million stake in Eightco Holdings (NASDAQ: ORBS) ("moonshots") and total cash & marketable securities of $527 million. Bitmine's ETH holdings are 4.8% of the ETH supply (of 120.7 million ETH).
"Over the past few days, investors have become more optimistic about the passage of the Clarity Act with prediction markets now seeing approximately 50% probability, the highest odds in two weeks. We believe regulatory clarity is an important milestone, enabling crypto, particularly smart contract platforms like ethereum to benefit, as crypto becomes part of our everyday life. Already, ethereum L2 run in the background processing USDC transactions for Shopify and even Visa. Therefore, the rise in the ETH/BTC ratio in the past few days make sense as markets start to see greater chances of Clarity Act passage," stated Thomas "Tom" Lee, Chairman of Bitmine.
On June 26, Bitmine was added to the Russell 1000 Large-cap Index, in conjunction with the annual reconstitution of this index. The Investment Company Institute, or ICI, estimates that passive investment funds and ETFs typically represent 18-20% of the shares of a company.
"Being added to the Russell 1000 is expected to add hundreds and possibly thousands of additional institutional investors as equity owners of Bitmine," continued Lee.
On June 10, Bitmine closed its offering (the "offering") registered under the Securities Act of 1933, as amended, of 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock (the "Series A Preferred Stock"), at a public offering price of $80.00 per share.
The Company received net proceeds from the offering of approximately $273.8 million, after deducting the underwriting discounts and commissions and the Company's estimated offering expenses. The Series A Preferred Stock is trading on the NYSE under the symbol BMNP. The dividends for BMNP are scheduled to be paid weekly, subject to the terms of the applicable Certificate of Designations.
On May 11, 2026, Bitmine released the latest Chairman's Message (link here) for May 2026.
"Over the past week, we acquired 42,197 ETH, increasing our pace from the prior week. We continue to maintain a steady pace of accumulation throughout 2026. We believe we are in the early stages of crypto spring. Bitmine is expected to reach the 'alchemy of 5%' sometime in 2026," stated Lee.
Earlier in 2026, Bitmine launched MAVAN (the Made in American VAlidator Network), the institutional grade staking platform. While MAVAN was originally developed to support Bitmine's own Ethereum treasury, MAVAN intends to expand to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure. A portion of Bitmine's ETH is already staked on the MAVAN platform.
As of July 5, 2026, Bitmine total staked ETH stands at 4,879,157 ($8.8 billion at $1,800 per ETH). "Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine's ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $277 million on an annualized basis (using 2.68% 7-day BMNR yield)," stated Lee.
"Annualized staking revenues are now projected at $235 million. And this 4.9 million ETH is 85% of the 5.74 million ETH held by Bitmine. Bitmine's own staking operations generated a 7-day yield of 2.68% (annualized)," continued Lee.
Bitmine's crypto holdings reign as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc. (NASDAQ: MSTR), which reportedly owns 847,363 BTC valued at approximately $54 billion. Bitmine remains the largest ETH treasury in the world.
Bitmine is one of the most widely traded stocks in the US. According to data from Fundstrat, the stock has traded average daily dollar volume of $543 million (4-day average, as of July 2, 2026), ranking #233 in the US, behind Semtech (rank #232) and ahead of TTM Technologies (rank #234) among 5,704 US-listed stocks (statista.com and Fundstrat research).
Bitmine management believes the GENIUS Act and Securities and Exchange Commission's (the "SEC") Project Crypto are as transformational to financial services in 2025 as US action on August 15, 1971 ending Bretton Woods and the USD on the gold standard 54 years ago. This 1971 event was the catalyst for the modernization of Wall Street, creating the iconic Wall Street titans and financial and payment rails of today. These proved to be better investments than gold.
The Chairman's message can be found here:
https://www.Bitminetech.io/chairmans-message
The Fiscal Full Year 2025 Earnings presentation and corporate presentation can be found here: https://Bitminetech.io/investor-relations/
To stay informed, please sign up at: https://Bitminetech.io/contact-us/
About Bitmine
Bitmine (NYSE: BMNR) is a Bitcoin miner with operations in the US. The company is deploying its excess capital to be the leading Ethereum Treasury company in the world, implementing an innovative digital asset strategy for institutional investors and public market participants. Guided by its philosophy of "the alchemy of 5%," the Company is committed to ETH as its primary treasury reserve asset, leveraging native protocol-level activities including staking and decentralized finance mechanisms. The Company launched MAVAN (Made-in America VAlidator Network), a dedicated staking infrastructure for Bitmine assets, in 2026.
For additional details, follow on X:
https://x.com/bitmnr
https://x.com/fundstrat
Forward Looking Statements
This press release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. These forward-looking statements can be identified by terms such as "expects," "projects," "projected," "intends," "believes," "anticipates," "estimates," and similar expressions. This document specifically contains forward-looking statements regarding: (i) the Company's goals regarding ETH acquisition, including the "Alchemy of 5%" initiative and the expectation that Bitmine will reach this goal sometime in 2026; (ii) the Company's beliefs and expectations regarding the cryptocurrency market, including the belief that the Company is in the early stages of "crypto spring" and that Bitmine will maintain a steady pace of ETH accumulation throughout 2026; (iii) expectations regarding passage of the Clarity Act and the Company's belief that regulatory clarity is an important milestone enabling crypto, particularly smart contract platforms like Ethereum, to benefit as crypto becomes part of everyday life; (iv) the expectation that being added to the Russell 1000 will add hundreds and possibly thousands of additional institutional investors as equity owners of Bitmine, including expectations regarding passive investment fund ownership; (v) the Company's digital asset accumulation strategy and staking operations, including projected annualized ETH staking rewards of approximately $277 million (when Bitmine's ETH is fully staked by MAVAN and its staking partners) and current projected annualized staking revenues of approximately $235 million; (vi) MAVAN's intended expansion to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure; (vii) management's belief that the GENIUS Act and SEC Project Crypto are as transformational to financial services as US action on August 15, 1971 ending Bretton Woods and the USD gold standard; and (viii) the future growth and advancement of the Company's Ethereum treasury strategy. In evaluating these forward-looking statements, you should consider various factors, including: Bitmine's ability to keep pace with new technology and changing market needs; Bitmine's ability to finance its current business, Ethereum treasury operations, and proposed future business; the competitive environment of Bitmine's business; market conditions affecting the trading price of the Company's common stock and Series A Preferred Stock; regulatory developments affecting digital assets, including the ultimate enactment and implementation of the Clarity Act, the GENIUS Act, and other pending legislation and SEC initiatives; the volatility and unpredictability of digital asset prices; the performance, reliability, and security of the Company's staking operations; risks related to AI systems and their impact on cryptocurrency markets; and the future value of Bitcoin and Ethereum. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond Bitmine's control, including those set forth in the Risk Factors section of Bitmine's Form 10-K filed with the SEC on November 21, 2025, as well as all other SEC filings, as amended or updated from time to time. Copies of Bitmine's filings with the SEC are available on the SEC's website at www.sec.gov. Bitmine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
MILWAUKEE, July 06, 2026 (GLOBE NEWSWIRE) -- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology, has published the Fiserv Small Business Index for June 2026. The monthly index of consumer spending at small businesses indicates steady short-term expansion, with both nominal sales and transaction volume increasing. Annually, growth trends continue to reflect the ongoing impact of inflation.
The seasonally adjusted Index increased to 145. Sales rose (+2.4%) year over year and (+0.8%) month over month. Small business growth remained driven by higher average tickets, which increased (+3.7%) compared to 2025. Throughout June, the pace of growth for some sectors, such as Retail, reflected a more balanced mix of pricing and activity compared with May. Transactions continued their year-over-year downward trend (-1.3%), but improved (+0.5%) month over month, signaling some stabilization in consumer activity.
“Small business spending in June was driven by a healthier balance between pricing gains and consumer activity,” said Prasanna Dhore, Chief Data Officer, Fiserv. “Persistent inflation continues to shape spending behavior across both essential and discretionary categories, but the retail bounce and shift to goods spending suggest resilience.”
Key Takeaways
Retail bounces back on higher foot traffic
Total retail sales increased (+3.0%) year over year and (+1.5%) month over month, an improvement from May’s softer performance. Growth was supported by both transactions (1.8% month over month, +2.7% year over year) and modest price gains, indicating more balanced demand. Food and Beverage Retailers stabilized after prior declines, while other retail categories, such as Sporting Goods, Clothing, and Health and Personal Care, showed improvements, driven primarily by increasing foot traffic.
Restaurants hold steady
Sales edged up (+0.2%) year over year, an improvement from last month’s falling sales. June’s growth remained driven by higher average tickets, which increased (+3.3%) year over year. Foot traffic continued its decline, falling (-3.1%) year over year, though the decrease in transactions slowed from the previous month. Limited-Service Restaurants continued to lag previous years, while Full-Service performance remained comparatively steady, supported by stable demand and pricing.
Easing gasoline prices offer consumers slight relief
Sales at Gasoline Stations increased (+15.3%) year over year, but declined (-4.7%) month over month, with average tickets falling (-3.2%) compared to May, providing consumers some much-needed relief at the pump. Despite easing prices, transaction activity declined both month over month (-1.4%) and year over year (-1.5%), reflecting lower demand in June.
Consumer spending patterns may be starting to rebalance
For the past 18 months, Essentials sales growth outperformed Discretionary, with Essentials average ticket growth remaining significantly higher as well. That gap has narrowed recently, which may be supporting a return to goods spending. In June, Goods sales (largely Discretionary-driven) rose (+3.0%) year over year, driven by (+2.5%) year over year transaction growth. Average tickets increased just (+0.5%) year over year, suggesting consumers are finding value through product selection and price comparison. By contrast, Services, which lean toward Essentials, grew (+2.1%) year over year, but saw transactions decline (-2.7%) year over year on higher average tickets (+4.8%), suggesting that growth still depends on pricing, with fewer low-priced options to choose from.
To access the full Fiserv Small Business Index, visit fiserv.com/FiservSmallBusinessIndex.
About the Fiserv Small Business Index®
The Fiserv Small Business Index is published during the first week of every month and differentiated by its direct aggregation of consumer spending activity within the U.S. small business ecosystem. Rather than relying on survey or sentiment data, the Fiserv Small Business Index is derived from point-of-sale transaction data, including card, cash, and check transactions in-store and online across approximately 2 million U.S. small businesses, including hundreds of thousands leveraging the Clover point-of-sale and business management platform.
Benchmarked to 2019, the Fiserv Small Business Index provides a numeric value measuring consumer spending, with an accompanying transaction index measuring customer traffic. Through a simple interface, users can access data by region, state, and/or across business types categorized by the North American Industry Classification System (NAICS). Featuring the most detailed classification available, the Fiserv Small Business Index provides visibility into 56 standardized level-6 national industries across 26 subsectors and 13 sectors, allowing users to track sales trends with precision and understand the diverse dynamics shaping the U.S. small business economy.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, is a global leader uniting commerce and finance. At the intersection of banking and commerce, the company powers sustained growth and innovation at scale for financial institutions and businesses worldwide across payments, account processing, digital banking, merchant acquiring, network services, eCommerce, and Clover®, the all-in-one business management platform. Fiserv is a member of the S&P 500® Index and one of FORTUNE® America’s Most Innovative Companies. Visit fiserv.com and follow on social media for more information and the latest company news.
Media Relations:
Chase Wallace
Director, Communications
Fiserv, Inc.
+1 470-481-2555 [email protected]
Sandisk stock price has suffered a harsh reversal recently as the recent bull run hits a wall. SNDK dropped by 14% on Friday, reaching its lowest level since June 11. It has now slumped by 25% this year, even as top Wall Street analysts have maintained their bullish outlook.
Sandisk stock has done well in the past 18 months, making it the best gainer in the S&P 500 Index. It jumped by 4,000% in the last 12 months, with its market capitalization crossing the $300 billion mark.
Despite these gains, analysts are highly bullish on the stock, with most of them hiking their forecasts. In a recent note, Bernstein hiked its target from $2,100 to $2,500, citing the strong demand for memory products after the robust Micron earnings.
Bank of America hiked its target from $1,700 to $3,400, noting that its multi-year contracts were helping it avoid the cyclical issues that have affected the industry in the past. With SNDK trading at $1,745, a surge to $3,000 implies a 71% jump.
Citigroup has also hiked the target price from $2,025 to $2,500, while Cantor Fitzgerald boosted from $1,800 to $2,900. Other companies that have hiked their targets are Mizuho and Morgan Stanley.
Sandisk’s growth to continue but risks remainThere is a possibility that Sandisk’s revenue growth will accelerate in the coming months as memory prices rise. A recent report showed that DRAM and NAND contract prices rose by 18% and 15% in the second quarter, respectively. While this was a strong growth, it was lower than the 60% experienced in Q1.
Sandisk primarily sells memory equipment like SSDs, memory cards, and USB flash drives. Yet, the cooling DRAM and NAND prices mean that its business too may be affected.
Data shows that analysts are predicting that its revenue jumped by 335% in the last quarter to $8.29 billion. For the year, the revenue is expected to grow by 168% to $19 billion, followed by 141% to $47 billion. These are strong numbers for a company that was spun out by Western Digital last year.
READ MORE: Sandisk stock is firing on all cylinders: is a day of reckoning coming?
The risk, however, is that the soaring memory prices may lead to overproduction, which will affect the global supply. Historically, the memory industry has experienced such periods of strong growth followed by slumps.
On the positive side for Sandisk, its stock is not highly overvalued. Ideally, you would expect a high-margin company growing by triple digits to have high price-to-earnings multiples. In its case, it trades at a forward PE ratio of 26, slightly higher than S&P 500 Index’s 22.
The challenge for Sandisk is that any sign that memory prices are cooling will have a negative impact on its stock.
SNDK stock chart | Source: TradingView
The other risk facing SNDK stock is that its technicals have worsened recently, a sign that it has moved to the distribution phase of the Wyckoff Theory. This phase is then followed by the markdown stage.
The stock’s Relative Strength Index (RSI) has formed a bearish divergence pattern, moving from a high of 81 to 46 today. It also remains much higher than the 100-day moving average, which is at $1,285.
The bearish divergence and a potential mean reversion may push it lower in the near term. On the other hand, a move above the key resistance at $2,360 will invalidate the bearish outlook.
Computer motherboard and chip appear in this illustration taken August 25, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesJuly 6 (Reuters) - Honeywell spinoff Solstice Advanced Materials (SOLS.O), opens new tab said on Monday it will buy Element Solutions (ESI.N), opens new tab at about $14.5 billion, including debt, in a cash-and-stock deal.
The deal comes less than a year after Solstice completed its spin-off from industrial conglomerate Honeywell International (HON.O), opens new tab.
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The combination would create a larger supplier of materials used in semiconductor manufacturing, electronics and industrial applications.
Shares of Element Solutions rose 3.5% in premarket trading, while those of Solstice were down 3%.
Solstice said the transaction would strengthen its exposure to AI infrastructure by connecting its electronics, packaging and thermal management capabilities with data center cooling and refrigerant application solutions.
Element Solutions supplies specialty chemicals used in electronics manufacturing, semiconductors, communications infrastructure and automotive applications.
The transaction is expected to close in the first half of 2027.
Element Solutions shareholders will receive $10.00 in cash and 0.500 shares of Solstice common stock for each share of Element common stock.
Morris Plains, New Jersey-based Solstice manufactures refrigerants and applied solutions as well as electronic and specialty materials used in semiconductor production.
The company was spun out of Honeywell's advanced materials business in October 2025 as part of the industrial conglomerate's broader plan to separate into three publicly traded companies focused on automation, aerospace and advanced materials.
Honeywell completed the Solstice separation eight months before spinning off its aerospace business in June 2026.
Reporting by Katha Kalia in Bengaluru; Editing by Arun Koyyur and Shinjini Ganguli
Our Standards: The Thomson Reuters Trust Principles., opens new tab
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating the merger of Solstice Advanced Materials, Inc. (NASDAQ: SOLS) and Element Solutions.Halper Sadeh encourages Solstice shareholders to click here to learn more about their rights and options or contact Daniel Sadeh or Zachary Halper free of charge at (212) 763-0060 or [email protected] or [email protected] investigation concerns whether Solstice and its board of directors violated the federal.
Long-Term AI Infrastructure Lease Expected to Generate ~$19 Billion of Contracted Revenue Over Initial Term
Abernathy Transaction Monetizes Approximately $450 Million Investment at a Premium and
Provides Capital to Expand Wholly Owned AI Infrastructure Portfolio
EASTON, Md., July 06, 2026 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner, developer, and operator of vertically integrated digital infrastructure, today announced two significant transactions that further advance its strategy of developing, owning, and operating large-scale AI infrastructure campuses.
The Company has executed a 20-year lease agreement with Anthropic at its Justified Data campus in Hawesville, Kentucky. The lease is expected to generate approximately $19 billion of contracted revenue over the initial lease term.
Separately, TeraWulf has entered into a definitive agreement to sell its 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by its joint venture partner, Fluidstack. The transaction monetizes TeraWulf's approximately $450 million investment at a premium to invested capital, unlocking significant capital for redeployment into wholly owned AI infrastructure opportunities.
Collectively, the transactions enhance TeraWulf’s long-term revenue visibility, strengthen its financial position, and further align the Company’s capital with infrastructure platforms where it maintains direct ownership, customer relationships, and operational control.
Anthropic Executes 20-Year Lease at Justified Data Campus
TeraWulf has entered into a 20-year lease agreement with Anthropic for a purpose-built AI infrastructure campus at the Justified Data site in Hawesville, Kentucky.
The campus will accommodate approximately 401 MW of critical IT load and will be developed in multiple phases. Initial capacity is expected to be placed into service during the second half of 2027, with the campus ramping to the full 401 MW by early 2028.
The lease is expected to generate approximately $19 billion of contracted lease revenue over the initial term and is expected to be supported by an investment-grade credit.
TeraWulf Monetizes Abernathy Investment
Under the terms of the Abernathy transaction, TeraWulf will sell its entire 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by Fluidstack, its joint venture partner and a leading AI cloud infrastructure provider.
The Abernathy Joint Venture was established in 2025 to develop a 168 MW critical IT load AI data center campus in Abernathy, Texas. Since the project's inception, TeraWulf and Fluidstack have worked closely to advance the development of the campus. Following the closing of the transaction, Fluidstack will continue to leading the project.
The sale enables TeraWulf to realize the value created through its $450 million investment and redeploy that capital into AI infrastructure opportunities where it can capture greater long-term economic value through direct ownership and operation.
Management Commentary
Paul Prager, Chairman and Chief Executive Officer of TeraWulf, commented:
“When we announced the Justified Data campus acquisition in February, we told investors that we expected to secure a major customer commitment by around the end of the second quarter of 2026. The timing of today's announcement reflects the completion of final documentation and customary transaction processes, and we are proud to announce this landmark partnership with Anthropic.”
“The Anthropic lease validates our strategy and establishes a long-duration revenue stream with one of the world’s leading AI companies. The lease provides approximately $19 billion of contracted lease revenue over its initial term, creates a framework for future expansion, and demonstrates the value of our ability to source power, develop infrastructure, and secure long-term customer commitments.”
“At the same time, the sale of our ownership interest in Abernathy to a group led by Fluidstack crystallizes the value created through that investment and generates significant capital for redeployment into infrastructure platforms where we maintain direct ownership, customer relationships, and operational control.”
“Together, these transactions position TeraWulf for its next phase of growth. Our strategy is centered on owning and operating critical infrastructure assets, maintaining direct relationships with our customers, and controlling the long-term evolution of our campuses. We believe this model provides the greatest opportunity to generate durable cash flows and attractive long-term returns for shareholders.”
Strategic Benefits
Following completion of the transactions, TeraWulf expects to:
Add approximately $19 billion of contracted revenue under the initial 20-year lease term.Further expand its long-term infrastructure relationship with Anthropic, one of the world's leading AI companies.Bring the initial Anthropic capacity at Justified Data online in the second half of 2027.Monetize its approximately $450 million investment in the Abernathy Joint Venture at a premium to invested capital, while simplifying TeraWulf's financial statements and streamlining financial reporting through the elimination of joint venture accounting.Recycle capital into wholly owned AI infrastructure opportunities where TeraWulf can capture greater long-term economic value through direct ownership and operation.Further strengthen TeraWulf’s position as a leading owner, developer, and operator of AI infrastructure. Together, these transactions demonstrate TeraWulf's ability to create value across the AI infrastructure lifecycle – from originating and developing large-scale campuses, to securing long-term customer commitments, to monetizing mature infrastructure investments and redeploying capital into future growth opportunities.
About TeraWulf
TeraWulf develops, owns, and operates large-scale digital infrastructure designed to support AI, high-performance computing (HPC), and other advanced compute workloads. Leveraging deep expertise in energy markets, power infrastructure, and grid integration, the Company develops and operates purpose-built facilities where power availability, scalability, and operational execution are critical competitive advantages. By strategically securing and monetizing high-value power resources, TeraWulf is well-positioned to serve the growing infrastructure needs of hyperscalers, AI innovators, and enterprise customers. Learn more at terawulf.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “seek,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “strategy,” “opportunity,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) TeraWulf’s ability to attract additional customers to lease its HPC data centers; (2) TeraWulf’s ability to complete our data center campuses and future strategic growth initiatives in a timely manner or within anticipated cost estimates; (3) operational risks associated with our data centers and our ability perform under its existing data center lease agreements; (4) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to expansion or existing operations; (6) adverse geopolitical or economic conditions, including a high inflationary environment, the implementation of new tariffs and more restrictive trade regulations; (7) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (8) the availability and cost of power as well as electrical infrastructure equipment necessary to maintain and grow the business and operations of TeraWulf; and (9) other risks and uncertainties detailed from time to time in TeraWulf’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.
Anthropic on Monday signed a 20-year lease to use a TeraWulf data center in Kentucky.
The data center, located about an hour southwest of Louisville in Hawesville, will have capacity of around 400 megawatts with first power delivery expected in the second half of 2027.
TeraWulf shares soared more than 16% in premarket trading. The lease is expected to generate around $19 billion in revenue over the initial term.
"The Anthropic lease validates our strategy and establishes a long-duration revenue stream with one of the world's leading AI companies," CEO Paul Prager said.
TeraWulf also sold its 50% interest in a 168-megawatt data center in Abernathy, Texas to an investor group led by Fluidstack.
TeraWulf is a crypto mining company that has pivoted to AI data center infrastructure. Its stock is up more than 80% this year.
Shares of AI infrastructure developer TeraWulf WULF jumped more than 17% in premarket trading on Monday after Anthropic signed a 20-year lease for a large-scale data center in Kentucky.
The agreement is expected to generate approximately $19 billion in revenue over its initial term and further strengthens TeraWulf's position as one of several former Bitcoin miners capitalizing on booming demand for AI computing capacity.
Under the agreement announced Monday, Anthropic will lease a data center located about an hour southwest of Louisville, Kentucky.
The facility is expected to provide roughly 400 megawatts of capacity, with first power delivery scheduled for the second half of 2027.
The campus will ramp to the full 401 MW by early 2028.
The deal represents one of the largest long-term AI infrastructure commitments announced this year and is expected to generate about $19 billion in revenue over the lease period.
Separately, TeraWulf said it had entered into a definitive agreement to sell its 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by its joint venture partner, Fluidstack.
The company said the transaction monetizes its approximately $450 million investment at a premium to invested capital, freeing up additional funds for expansion of wholly owned AI infrastructure projects.
TeraWulf has increasingly shifted its focus away from cryptocurrency mining as falling Bitcoin mining economics have encouraged miners to repurpose their power infrastructure for artificial intelligence and high-performance computing workloads.
The company's shares have climbed more than 66% this year and over 340% during the past 12 months as investors have embraced that strategy.
Signs that the transition is beginning to pay off emerged in the company's first-quarter earnings released in May.
High-performance computing leases generated $21 million in revenue during the quarter, comfortably ahead of Wall Street estimates of $18.6 million.
A year earlier, the company generated no AI lease revenue.
Overall quarterly revenue, however, edged lower to $34 million from $34.4 million a year ago, while TeraWulf reported a wider-than-expected loss of $1.01 per share, compared with a loss of 16 cents a year earlier.
Analysts had expected a loss of about 20 cents.
Despite the earnings miss, encouraging numbers related to its HPC lease revenue have prompted several Wall Street firms to initiate bullish coverage in recent weeks.
Citi recently launched coverage with a Buy rating and a $36 price target, implying roughly 39% upside from Friday's closing price.
According to CNBC, Citi analyst Michael Rollins believes TeraWulf remains well-positioned as demand for high-performance computing continues to outstrip available infrastructure.
"The challenge is that supply constraints for large-scale deployments are not immediately abating, as power transmission remains restrained in key metro markets and community resistance to data centers (aka NIMBY-ism) has picked up. TeraWulf is one of several companies that are addressing the potential bottleneck," Rollins said.
Citi noted that while AI deployments remain in the early stages, TeraWulf is building a framework capable of developing between 250 MW and 500 MW of new data center capacity annually by converting industrial sites with existing grid access into hyperscale AI facilities.
Rollins acknowledged execution and funding risks, including the challenge of completing large projects on tight timelines, but argued that "the valuation still doesn't reflect WULF's multi-year growth opportunities."
Other analysts have also turned positive on the stock.
BofA Securities initiated coverage last month with a Buy rating and a $34 price target, arguing that the company's move from traditional Bitcoin mining into AI infrastructure positions it to benefit from accelerating demand for high-performance computing.
According to Investing.com, BofA analyst Michael Funk said the company is well placed within the rapidly expanding AI infrastructure market and highlighted upcoming catalysts including completion of the Lake Mariner project later this year and the expected announcement of a customer for the Kentucky campus.
Bernstein previously began coverage with an Outperform rating and a $46 price target, citing the company's growing project pipeline and capital-light leasing model, while Citizens has reiterated a Market Outperform rating with a $32 target.
TeraWulf has also continued to strengthen its balance sheet to support its AI ambitions.
The company recently completed a $3.2 billion high-yield bond sale to finance expansion of its Lake Mariner campus in New York.
The financing is backed by Google as guarantor once the facility becomes operational, adding credibility to TeraWulf's infrastructure platform.
Anthropic logo, a keyboard, and a robotic hand in this illustration taken June 5, 2026. REUTERS/Dado Ruvic/Illustration//File Photo Purchase Licensing Rights, opens new tab
July 6 (Reuters) - TeraWulf (WULF.O), opens new tab said on Monday it signed a 20-year lease with Anthropic for data center infrastructure, a deal expected to generate about $19 billion in contracted revenue, sending the bitcoin miner's shares up more than 10% in early trading.
The deal secures long-term, recurring revenue for TeraWulf from an AI customer as it shifts away from relying on bitcoin mining, a transition the company said in May would increasingly drive its business.
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Here are some details:
The Anthropic lease covers a purpose-built AI infrastructure campus at TeraWulf's Justified Data site in Hawesville, Kentucky.
The campus will support about 401 megawatts of critical IT load, with initial capacity expected online in the second half of 2027 and full capacity by early 2028.
Separately, TeraWulf agreed to sell its 50.1% stake in the Abernathy joint venture to an investor group led by partner Fluidstack.
The sale monetizes TeraWulf's roughly $450 million investment at a premium to invested capital and frees up capital for wholly owned AI infrastructure projects.
As of previous close, TeraWulf shares had gained about 85% year to date.
Reporting by Anhata Rooprai and Anzar Mehraj in Bengaluru; Editing by Vijay Kishore and Joyjeet Das
Our Standards: The Thomson Reuters Trust Principles., opens new tab
NEW YORK, July 06, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that a securities class action has been filed against Futu Holdings Limited (NASDAQ: FUTU).
YOU MAY BE AFFECTED IF YOU:
Purchased FUTU stock between May 24, 2023 and May 27, 2026Lost money on your Futu Holdings investment Submit your information to recover losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
FUTU shares collapsed $34.10 per share on May 22, 2026, a 27.5% single-session loss, after the CSRC proposed penalties totaling approximately RMB 1.85 billion (USD 271 million). The lead plaintiff deadline is August 25, 2026.
What They Allegedly Knew
The CSRC publicly announced in December 2022 that Futu had been conducting cross-border securities business with mainland Chinese investors without regulatory consent. The Company was banned from opening new accounts for mainland investors and from soliciting new mainland business. By May 2023, the Futubull app was removed from Chinese app stores.
Despite these extraordinary regulatory actions, management continued issuing quarterly press releases highlighting accelerating client growth, surging trading volumes, and rising revenues throughout the Class Period. The lawsuit contends that executives knew their mainland China operations lacked the requisite CSRC licenses for securities, public fund sales, and futures business, yet presented financial results that included revenue derived from those allegedly illegal activities.
The Red Flags That Emerged
The complaint chronicles a pattern of warning signs that allegedly should have prompted more specific disclosure to shareholders:
The December 2022 CSRC statement explicitly identified Futu's cross-border operations as conducted "without regulatory consent"The Futubull app was pulled from mainland Chinese app stores in May 2023, confirming active regulatory enforcementSEC filings acknowledged the Company "does not hold any license or permit for providing securities brokerage services in Mainland China"Annual reports admitted rectification measures offered "no assurance" of satisfying the CSRCDespite these admissions, the Company continued reporting paying client increases of 15% to 41% year-over-year across successive quartersNo provision or accrual for potential penalties appeared in financial statements until after the CSRC notification letter arrived in May 2026 Inside Knowledge vs. Public Statements
The securities action asserts that a stark gap existed between what the Company disclosed in boilerplate risk factors and what it knew about the severity of its regulatory exposure. While SEC filings used speculative language such as "if the CSRC pursues further regulatory actions" and "we have limited information to accurately predict," the complaint alleges the Company was actively operating businesses it knew required licenses it did not possess. The proposed penalty of RMB 1.85 billion, including confiscation of RMB 470 million in "illegal gains," suggests the scope of the unlicensed activity was substantial and quantifiable throughout the Class Period.
"The timeline raises important questions about when certain risks were known internally versus when they were disclosed to the investing public. For over three years, Futu reported record operational metrics while allegedly operating without required Chinese regulatory licenses." -- Joseph E. Levi, Esq.
Act now to protect your rights or call (212) 363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
Frequently Asked Questions About the FUTU Lawsuit
Q: When did Futu Holdings allegedly mislead investors? A: The class period runs from May 24, 2023 to May 27, 2026. The alleged fraud was revealed through corrective disclosures on May 22, 2026, when Reuters reported the CSRC crackdown and Futu confirmed receiving a notification letter proposing RMB 1.85 billion in penalties, and again on May 28, 2026, when Q1 2026 results reflected the proposed penalties.
Q: What specific misstatements does the FUTU lawsuit allege? A: The complaint alleges Futu made materially false or misleading statements regarding its regulatory compliance status, failing to disclose that it continued to conduct securities, public fund sales, and futures business in mainland China without required CSRC licenses, and that its reported financial results were overstated as a result.
Q: What do FUTU investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as a class member.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What if I already sold my FUTU shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of investor's country of residence.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004 [email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
Highlights from the May 2026 Surface Sampling Program Include: Up to 46.3 g/t gold and 1,030 g/t silver in channel samples Up to 67.1 g/t gold in grab samples Up to 26.1 g/t gold and 348 g/t silver in rock chip samples VANCOUVER, BC / ACCESS Newswire / July 6, 2026 / Rio Grande Resources Ltd. (CSE:RGR)(OTCQB:RGRLF) ("Rio Grande" or "RIO" the "Company"), is pleased to announce results from its recently completed Phase Two surface sampling and structural mapping program (see news release dated May 6, 2026) at its 100%-owned Winston Gold-Silver Project ("Winston" or the "Project") in New Mexico.
The Dividend Harvesting Portfolio has grown to $39,685.82 from $27,900 invested, now generating $3,136.31 in forward annualized dividend income. I continue to prioritize rate-sensitive sectors, adding to NEOS MLP & Energy Infrastructure High Income ETF (MLPI) and Starwood Property Trust (STWD) for high yields and future growth. Dividend income growth remains robust, with 2026 income already at 62.53% of 2025's total after just 27 weeks, driven by reinvestment and sector diversification.
Powell Industries (POWL - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Over the past month, shares of this energy equipment company have returned -13.5%, compared to the Zacks S&P 500 composite's -0.9% change. During this period, the Zacks Manufacturing - Electronics industry, which Powell Industries falls in, has lost 4.1%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Powell Industries is expected to post earnings of $1.49 per share for the current quarter, representing a year-over-year change of +12.9%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
The consensus earnings estimate of $5.47 for the current fiscal year indicates a year-over-year change of +10.5%. This estimate has remained unchanged over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $6.84 indicates a change of +25.1% from what Powell Industries is expected to report a year ago. Over the past month, the estimate has remained unchanged.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Powell Industries is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Powell Industries, the consensus sales estimate for the current quarter of $318.25 million indicates a year-over-year change of +11.2%. For the current and next fiscal years, $1.2 billion and $1.46 billion estimates indicate +8.7% and +21.3% changes, respectively.
Last Reported Results and Surprise HistoryPowell Industries reported revenues of $296.61 million in the last reported quarter, representing a year-over-year change of +6.5%. EPS of $1.25 for the same period compares with $1.27 a year ago.
Compared to the Zacks Consensus Estimate of $298.22 million, the reported revenues represent a surprise of -0.54%. The EPS surprise was -6.72%.
Over the last four quarters, Powell Industries surpassed consensus EPS estimates three times. The company topped consensus revenue estimates just once over this period.
ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Powell Industries is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Powell Industries. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Membership has its privileges. Space Exploration Technologies (SPCX +2.02%) investors are hoping that's the case regarding the stock's July 7 inclusion in the Nasdaq-100 Index.
A quick refresher: Before what was the largest initial public offering (IPO) in history, Nasdaq and several other index providers embraced "fast track" rules, paving the way for SpaceX to join various gauges more quickly than usual. In the case of the Nasdaq-100, the index opened the door for SpaceX (and potentially other large IPOs in the future) to join the benchmark after 15 trading days. For Elon Musk's company, that day is July 7.
SpaceX is joining the Nasdaq-100 Index on July 7, but that may not translate into huge gains for the stock. Image source: Getty Images.
That's a big deal because the Nasdaq-100 usually adds and removes stocks only once a year, on the third Friday of December. Now, SpaceX isn't just joining a widely followed index; it will be added to funds tracking that gauge, including exchange-traded funds (ETFs) such as the Invesco QQQ Trust (QQQ +1.32%) and the Invesco NASDAQ 100 ETF (QQQM +1.44%). That's no small feat because, as measured by assets under management, the Invesco QQQ Trust is the fifth-largest ETF trading in the U.S., while its stablemate is in the top 25.
But does it matter to investors directly holding SpaceX today? The answer is "maybe."
Nasdaq-100 inclusion could spark SpaceX Market history isn't guaranteed to repeat, but it's worth noting that the typical Nasdaq-100 addition gains about 1% over the five days spanning the announcement and its eventual inclusion in the index. That doesn't include unusual circumstances, such as the additions of Moderna and Zoom Communications during the height of the coronavirus pandemic.
It was widely known that SpaceX would be added to the Nasdaq-100, but the stock still rallied 2.7% over the five days ending July 2. Another historical footnote worth observing: From 2010 through 2024, the average Nasdaq-100 addition gained 3.8% over the following 90 days. A year out, stocks joining the Nasdaq-100 averaged an upside of 12%.
SpaceX isn't beholden to that history. It could outperform or lag the 90-day and 12-month averages. Fundamentals, including earnings and revenue growth, launch data, and investor sentiment, will determine SpaceX's performance following its addition to the famed tech-heavy index.
Today's Change
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Current Price
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Something else for investors to consider -- Nasdaq-100 fast-track inclusion doesn't guarantee permanent membership. Moderna and Zoom learned that the hard way, as neither is in the index today. Nor does joining outside the usual rebalancing window ensure prominence. Arm Holdings and Shopify received that treatment, but those stocks together account for less than 1.3% of the index.
Speaking of prominence... Even if an investor assumes that SpaceX will trade higher upon joining the Nasdaq-100, it pays to be more inquisitive. No one has a crystal ball, so projecting precise gains is a fool's errand, but it is safe to say post-inclusion gains for this space stock will be small.
That's the result of a scant percentage of SpaceX shares freely floating. As a result, the stock's initial weight in the Nasdaq-100 is likely to be around 0.7%. Back-of-the-envelope math indicates that forced buying of the aforementioned pair of Invesco ETFs would exceed $5 billion.
That's something, but it's not much in the context of a stock with a market capitalization of nearly $2.1 trillion.
Todd Shriber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Arm Holdings, Moderna, Shopify, and Zoom Communications. The Motley Fool has a disclosure policy.
If you're bullish on the future of the space economy and artificial intelligence (AI), then you are likely incredibly excited about Space Exploration Technologies Corp. (SPCX +2.83%), which recently went public and has already become one of the largest stocks in the market, trading at a roughly $2.13 trillion market cap (as of July 3).
While most believe SpaceX is bound to do great things, the high valuation has made it a battleground stock, with some analysts and institutional traders claiming this is just the beginning, and others suggesting SpaceX has gotten ahead of its skis.
Recently, veteran Wall Street analyst Dan Ives, typically quite bullish on tech and artificial intelligence, weighed in on the stock. Here's what he thinks a $17,000 investment in SpaceX could be worth over the next 12 months.
Image source: Getty Images.
Ives offered less hype than expected on SpaceX Ives, formerly with Wedbush Securities, recently initiated coverage of SpaceX with an outperform rating and a $190 price target, implying about 17.3% upside from current levels. Assuming this comes to fruition, a $16,500 investment could be worth close to $20,000 in one year's time, the typical time horizon used by Wall Street analysts.
In his initiation note, Ives wrote that SpaceX is "one of the most differentiated assets within the tech market" and "well-positioned to become a major hyperscaler with its vertically integrated platform across connectivity, launch, and AI infrastructure."
Ives views SpaceX's low-Earth-orbit satellite internet service, Starlink, as the profit engine with a long runway ahead, given that the service still controls less than 1% of the global telecom and broadband market.
Thus far, Starlink has been the best financial performer of SpaceX's three divisions, generating an operating profit of $4.4 billion and adjusted EBITDA of nearly $7.2 billion in 2025.
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Ives views the launch business as the engine that makes pretty much everything at the company possible, and is most excited about the AI division, which comprises the social media platform X, the digital AI intelligence platform Grok, multiple data centers, and a future potential terafab facility.
SpaceX has already signed massive data center deals with large AI players like Anthropic and Alphabet, which are expected to dramatically ramp revenue this year.
While the deals can be canceled with just three months' notice, Ives still believes SpaceX has an advantage over other data center players because it can build data centers faster and more cheaply than competitors.
Ives' upside on SpaceX is lacking In his initiation note, Ives acknowledged that the bull case for SpaceX largely depends on Starship, SpaceX's fully reusable heavy-lift launch rocket that is not yet operational.
SpaceX needs Starship if it wants to build orbital data centers, which is likely already partly baked into the company's valuation. Starship has conducted 12 test flights but has not yet worked as designed, according to Ives, and could also face regulatory pressure.
While Ives has issued a solid price target on SpaceX and a 17% return in one year is nothing to sniff at, I find his upside case lacking compared to his previous calls on other hyperscalers.
If you are a bull, it is a bit concerning that Ives doesn't have a higher price target, given that he is considered one of the most bullish analysts on the Street for AI and tech.
Ives also points out how crucial Starship is to SpaceX's thesis, and I agree. In its registration statement, the company said it could begin deploying orbital AI compute satellites as early as 2028.
But this seems like an incredibly fast timeline, especially given where Starship is. Obviously, what SpaceX and Founder Elon Musk are trying to accomplish is extraordinary, so long-term investors may not mind the longer timeline.
However, the fact that the company already trades at such a high valuation suggests that Starship's success and orbital data centers are all but guaranteed, when they aren't, making the risk-reward proposition on the stock unfavorable right now, in my opinion.
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Gwynne Shotwell, SpaceX's president and chief operating officer, announced the donation on X. TIMOTHY A. CLARY / AFP via Getty Images SpaceX president Gwynne Shotwell says she's donating company stock to Trump Accounts, days after President Donald Trump predicted the rocket maker's shares would find their way into the children's savings program.
On Monday, Shotwell announced in an X post that she and her husband are "honored and thrilled" to gift a share of their SpaceX stock to the Trump Accounts of more than 2 million American children.
My husband and I are honored and thrilled to participate in the Invest America program and gift a share of our SpaceX stock to a Trump Account for each of more than two million children across our great nation.
Every American child under 18 can benefit from having a Trump… https://t.co/M6UJQ26Y6N
— Gwynne Shotwell (@Gwynne_Shotwell) July 6, 2026 The couple's donation is targeted at children aged 11 to 17 living in areas with lower average household incomes, Shotwell said, "with a bit more emphasis" on those near the couple's central Texas home.
"We have been fortunate in our careers and hope this gift encourages the next generation to continue the journey of enabling humanity to live and fly amongst the stars," she wrote.
SpaceX's stock has fluctuated since the company went public in June, but at the time of writing, it was trading at around $160 a share, meaning a gift of 2 million shares would be worth around $320 million at current prices.
The announcement comes days after Trump said in an interview with CNBC that he expects Elon Musk to donate SpaceX stock to the program. "Well, I think that he will do that," the president said, though Musk, who briefly became the world's first trillionaire following SpaceX's record-breaking IPO, has yet to make any public comment.
Trump told CNBC that his relationship with Musk remains strong, describing their past falling-out as a "little dispute" rooted in his decision to remove subsidies and mandates for electric vehicles. Prior to that, Musk had backed Trump's presidential campaign and later spearheaded an initiative to cut government spending.
Shotwell, SpaceX's longtime chief operating officer and Musk's second-in-command, joins a growing list of executives and companies backing the accounts. Michael and Susan Dell have pledged $6.25 billion, Micron has committed $250 million, and employers including BlackRock, Intel, and JPMorgan Chase have said they will match the government's $1,000 deposit.
Trump Accounts, created under last year's Republican tax and spending law, are seeded with $1,000 from the Treasury for every American child born between January 1, 2025, and December 31, 2028, and convert into retirement-style accounts when the child turns 18.
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Georgia Hennessy You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Georgia is a fellow at Business Insider's London office.Before joining Business Insider, she worked at Japan's largest newspaper, The Yomiuri Shimbun, and interned at the Financial Times. She is an NCTJ-qualified journalist with a degree in Philosophy from the University of Birmingham. You can contact her via email at [email protected]
U.S. Politicans wasted little time when it comes to investing in SpaceX (NASDAQ: SPCX) stock and, as it turned out by early July, it also did not take them long to begin losing money on their investments.
The most recent example of the phenomenon came in the form of Representative Dan Meuser’s market activity as he purchased up to $50,000 worth of SPCX shares on June 16.
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Furthermore, the trade – revealed in a July 2 filing – was especially ill-timed considering SpaceX hit its all-time high (ATH) of $225.64 on the day and retraced significantly since.
Indeed, at press time on July 6, 2026, shares of SPCX are changing hands at $163.58 after rising 0.98% in the extended session from their latest close at $162.
SpaceX stock price one-week chart. Source: Google If Meuser invested at the June 16 high, he might have lost up to $13,752, given his investment could have retraced by 27.5% to $36,248.
Additionally, he would have fared only slightly better if his timing coincided with the day’s low of $199.98. Specifically, had he purchased at that price, his position – assuming the initial purchase was the top of the reported range of $50,000 – diminished by $9,100.91 to $40,899.09 for an 18.2% loss.
Is Representative Meuser’s SpaceX stock investment about to turn green in July? Still, Representative Meuser’s losses appear relatively unlikely to persist through the rest of July. SpaceX stock will benefit from substantial tailwinds starting on July 7, as the equity will be joining the Nasdaq-100 index on the day.
Though the benefits of increased visibility will arguably largely be lost on the company – Elon Musk’s newer public firm has been famous for years and had the largest IPO on record – it will, nonetheless, enjoy substantial buying pressure as index funds get compelled to include it.
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The bull case was, additionally, probably not lost on Representative Dan Meuser since his investment in SpaceX stock was simultaneously his first stock buy in approximately six years – once bond purchases are excluded, his most recent equity purchase took place on March 30, 2020
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Space Exploration Technologies (SPCX +2.00%) is finally a publicly traded company. Now the process begins for stock indexes to add SpaceX shares to their holdings. Each index has its own rules for inclusion. Some require that a stock only be publicly traded for several days. Others, like the S&P 500 (^GSPC +0.40%), require a full year of trading before adding.
The Nasdaq-100 index -- which tracks 100 large non-financial stocks -- recently announced new "fast track" eligibility criteria designed to address mega initial public offerings (IPOs), such as the SpaceX IPO. Under those criteria, new stocks can be added on their 15th trading day. The exchange announced on June 26 that SpaceX will be added before markets open on July 7.
For investors in the Invesco QQQ ETF (QQQ +1.57%) and Invesco Nasdaq 100 ETF (QQQM +1.49%), which track the Nasdaq-100 index, that means they will soon own a piece of SpaceX. If you're one of them, here's what you should know ahead of its addition.
Image source: Getty Images.
SpaceX's addition will be a one-time event There was speculation at one time that, due to its size, SpaceX stock might be added to the Nasdaq-100 in phases. That won't be the case. The Nasdaq-100 construction methodology indicates that stocks are added as a single event, and no provision is made to add large IPO shares in pieces.
SpaceX's inclusion in the Nasdaq-100 could result in $4 billion of passive fund buys The Invesco QQQ ETF and its twin, the Invesco Nasdaq 100 ETF (QQQM +1.49%), manage a combined $570 billion in assets. These funds are going to need to buy a significant amount of SpaceX stock in order to track the index properly.
JPMorgan estimates that SpaceX's inclusion in the Nasdaq-100 could result in $4.3 billion of buying. With fund buying of this magnitude, expect SpaceX stock to be volatile.
SpaceX's weight in the Nasdaq-100 will likely be around 1% You might be asking how SpaceX will likely have only about a 1% weighting in the Nasdaq-100, even though its $2.3 trillion market cap is comparable to Amazon's, which has a 4% weighting.
The answer is that the index's weighting is based on free float market capitalization, which excludes shares held by insiders or restricted from the market. Only a relatively small percentage of SpaceX shares are publicly traded, which reduces the potential weight the stock can carry. If more shares become publicly available, the stock's weight will likely rise.
Anthropic and OpenAI are probably next The Nasdaq-100's new fast-track inclusion policy paves the way for the next big IPOs to be added quickly. In all likelihood, that's likely Anthropic and OpenAI, which pundits think will probably go public either in 2026 or 2027. Once that happens, index-tracking ETF shareholders will begin owning those stocks, too.
Space Exploration Technologies (SPCX +2.02%) is making a bold move into AI with its $60 billion deal with Cursor. The upside case is that rockets, Starlink, Grok, Cursor, and future orbital compute could form a new infrastructure ecosystem. But with expectations already sky-high, investors need to ask whether the stock is pricing in too much too soon.
*Stock prices used were the market prices of June 18, 2026. The video was published on July 3, 2026.
Rick Orford has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Rick Orford is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
The InclusionSpaceX will become a component of the Nasdaq-100 Index prior to market open on Tuesday, July 7, 2026. The Nasdaq-100 is tracked by more than 200 investment products with over $800 billion in assets under management globally, meaning every index fund and ETF tracking the benchmark will be required to own SpaceX shares as of Tuesday’s open.
Estimates suggest passive investors could purchase up to $4.3 billion in shares from the QQQ ETF alone, with total Nasdaq-100 and Russell index tracking fund buying potentially reaching $27 billion.
SpaceX Shares Edge HigherSPCX Price Action: At the time of publication, SpaceX shares are trading 2.44% higher at $165.96, according to data from Benzinga Pro.
Image via Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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SpaceX President Gwynne Shotwell announced she would donate to the Trump Accounts program on Monday, joining a growing list of companies and billionaires pledging to support the investment accounts for American children under 18.
The gift, which includes shares of Shotwell's and her husband's SpaceX stock, will go to around 2 million Trump accounts, with a "bit more emphasis" on children who live close to their home in central Texas, Shotwell wrote in a post on X.
"We have been fortunate in our careers and hope this gift encourages the next generation to continue the journey of enabling humanity to live and fly amongst the stars," Shotwell wrote.
On Thursday, President Donald Trump told CNBC's Joe Kernen that he thought SpaceX CEO Elon Musk would donate company stock to the program.
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SpaceX President Gwynne Shotwell pledged SpaceX stock to more than two million children through Trump Accounts after President Donald Trump floated the idea, while Elon Musk has yet to respond.
WASHINGTON, DC - JULY 2: A SpaceX logo on a space suit is displayed at an exhibit at The Great American State Fair on July 2, 2026 in Washington, DC. (Photo by Kevin Carter/Getty Images)
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This article was written by Doug Nathman, with research by his team at Trefis.
SpaceX (SPCX) shares perform as if they are part of a monopoly, boasting a valuation of $1.75 trillion and over 100 times its trailing revenue. Such figures only make sense if investors believe that SpaceX will face little to no serious competition for an extended period. Nevertheless, stakeholders should not assume that this situation will endure indefinitely. SpaceX is fundamentally a long-term investment, which presents a double-edged sword: it indicates that smaller, emerging rivals warrant more regard than their current market presence implies. At present, there are few credible competitors to SpaceX. Among them, Jeff Bezos’s Blue Origin stands out as the most significant contender. Although still lagging, it is making substantial strides, especially in technical and regulatory developments.
See how SpaceX’s financial performance compares with other publicly traded space stocks like Redwire (RDW) and Rocket Lab (RKLB).
Regulatory Support Is The Core NarrativeFederal contracts are crucial for the space sector, and securing them is heavily reliant on establishing connections with government entities.
Blue Origin's recent advancements illustrate this reality. Its average yearly federal contracts under the current Trump administration surged by 177% compared to the Biden administration's rate. The Space Force has authorized the firm for seven military and intelligence launches valued at up to $2.4 billion. NASA granted it $188 million for lunar cargo deliveries associated with the Artemis initiative. Blue Origin is now qualified to compete for portions of the Pentagon’s $151 billion Golden Dome missile defense initiative.
During this term, Bezos has cultivated a notably closer relationship with Trump, gaining presumably greater access to the White House. This association has aligned with NASA and Space Force leaders publicly positioned Blue Origin as a critical counterweight to SpaceX, indicating sustained agency interest for a second major launch service provider.
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SpaceX has also profited from Elon Musk's rapport with President Trump. However, the situation has shifted, as Blue Origin is now nurturing similar access, making it less probable for government support to continue being a one-company advantage over an extended period.
Although launch operations and Starlink remain fundamental to SpaceX, wireless services also seem to be coming into focus for the company.
Operational Disparity Remains SignificantThe difference in operational capabilities is substantial. SpaceX conducts rocket launches approximately every two to three days, providing it with significantly more opportunities to enhance its technology, reduce costs, and attract customers. It has successfully landed reusable boosters hundreds of times, whereas Blue Origin's heavy-lift New Glenn completed its inaugural launch this year and is still navigating early landing trials. Furthermore, SpaceX operates over 8,000 Starlink satellites, generating billions in ongoing revenue—an area Blue Origin has not yet ventured into. This disparity is evident in government contracts as well: since 2008, SpaceX has secured approximately $24.9 billion in federal commitments, in contrast to about $2.6 billion for Blue Origin.
Starship introduces another level of distinction. SpaceX is already engaging in flight tests of a fully reusable super-heavy launch system aimed at considerably lowering the cost to access orbit and supporting missions to the Moon and Mars. Blue Origin currently lacks a comparable vehicle in its plans.
Nonetheless, Blue Origin possesses genuine advantages beyond its increasing regulatory support. Its BE-4 engine powers both New Glenn and United Launch Alliance's Vulcan Centaur, establishing Blue Origin as an essential supplier for the U.S. launch market. Jeff Bezos also financially backs the company with billions, providing a level of financial support that few aerospace startups can rival. Unlike most space startups, Blue Origin is not under intense pressure to raise funds or focus on short-term profitability, allowing it to invest steadily in long-term projects. Moreover, unlike many competitors, New Glenn was architected for reusability from the beginning, positioning it well to compete in a market that increasingly hinges on repeatedly utilizing the same hardware to reduce launch costs.
Is Catching Up Necessary?Closing the gap with Starlink or Starship within this decade appears unlikely given SpaceX's advantages in financial flow and flight data.
Blue Origin does not require operational equivalence to be of significance to investors. It must establish sufficient credibility and government endorsement to remain the funded alternative in major projects, and the contracting trends over the last year indicate that this is precisely what is occurring. For SpaceX investors, the concern is that federal agencies might intentionally allocate funds to sustain a second supplier, thereby limiting how much pricing influence and contract share SpaceX can ultimately command, despite its operational supremacy.
While the space sector continues to be a high-interest field, valuations stay elevated. It becomes essential to balance investments like this against validated cash-generating platforms. A disciplined investment strategy aids in maintaining your position while limiting the repercussions of market fluctuations. While consistently outperforming the market can be difficult, the Trefis High Quality (HQ) Portfolio aims to make this an attainable objective. The HQ approach has consistently surpassed its market benchmark since inception, yielding cumulative returns exceeding 105 percent.
Shares of Apple (NASDAQ:AAPL | AAPL Price Prediction) rose 1.7% on July 1, 2026, the day the Wall Street Journal reported that SpaceX had shown IPO investors a prototype handset: slimmer than an iPhone, running a proprietary operating system, powered by a Qualcomm Snapdragon chip, and deeply integrated with xAI’s Grok. Elon Musk called the story “utterly false” on X, then apparently deleted the post. Meanwhile, SpaceX (NASDAQ:SPCX) fell 7.3%, briefly wiping more than $50 billion from Musk’s net worth. The market’s verdict on Apple was clear: not our problem. That verdict looks wrong.
The Denial Pattern This is at least the third time Musk has denied building a phone. He denied a similar Reuters report in February 2026, previously posted “we are not developing a phone,” and once said the idea of making a phone “makes me want to die.”. Take him at his word. The confirmed moves around the device are the real story.
The Stack Apple Should Fear On June 26, SpaceX COO Gwynne Shotwell told IPO roadshow investors that SpaceX plans to launch a Starlink-branded retail wireless service and may build its own terrestrial cellular network to challenge AT&T, Verizon, and T-Mobile. In May 2026, the FCC approved SpaceX’s acquisition of 65 MHz of exclusive nationwide mid-band spectrum from EchoStar, the legal foundation for a carrier-free network. Bloomberg reports talks with Charter Communications about a mobile infrastructure partnership. And in February 2026, SpaceX absorbed xAI, bringing Grok, X, and Cursor under one roof.
Network layer: Starlink. Intelligence layer: Grok. Social graph: X. Developer tools: Cursor. A proprietary OS would complete the stack. Whether a handset ships is almost beside the point.
Why the App Store Is the Real Target Apple’s Services segment, which houses App Store fees, reached approximately $26.6 billion in the most recent quarter, the company’s highest-margin business and anchor of its 36 trailing P/E. Musk has explicitly said the motivation for a phone would be to escape Apple’s control over app distribution, citing the risk that Apple could remove X from the App Store. A proprietary OS bypasses both Apple and Google in one motion.
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The Broader AI Hardware Race SpaceX is not alone. OpenAI is developing a device with former Apple chief design officer Jony Ive; Paul Meade, Apple’s VP in charge of Vision Pro, recently joined OpenAI’s hardware team. Microsoft unveiled a prototype AI badge last month built on Qualcomm wearable chips. Apple itself is reportedly building AI wearables and an AI pin, an implicit concession that the smartphone era has a horizon.
The Counterargument Analysts at Vital Knowledge wrote after the report: “SpaceX has a long way to go before successfully manufacturing a consumer device at scale and competing against the leading platforms.” The Humane AI Pin was discontinued; the Rabbit R1 launched to critical disappointment. Apple’s moat has absorbed every prior assault, and manufacturing a consumer device at scale is a fundamentally different challenge than launching rockets.
The Next Inflection Apple’s fiscal Q3 report is expected July 30, 2026, the first major update since the rumor broke, with reports suggesting Tim Cook may not attend the earnings call. The last quarter was pristine: $111.184 billion in revenue, $2.01 EPS versus $1.94 expected, an eighth straight beat, and a new $100 billion buyback authorization.
The numbers are fine, the stock is at $308.63, and prediction markets give only a 28% probability Apple releases a new product line before 2027. Here is the question worth asking before July 30: if a competitor were quietly assembling the network, the model, the OS, and the distribution to route around the App Store, would this earnings report tell you about it, or would it look exactly like the one you just read?
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Broadcom Inc. AVGO shares rose 5.3% in trading on Monday after the semiconductor company announced an extension of its long-standing partnership with Apple Inc. through 2031.
The agreement reinforces Broadcom's position as one of the iPhone maker's key chip suppliers.
The new multi-year agreement expands the companies' collaboration on custom silicon products and provides Broadcom with long-term revenue visibility from one of its largest customers.
Apple accounts for about 20% of Broadcom's annual revenue, according to analysts, making the partnership strategically important for the chipmaker.
Broadcom said it has agreed to expand its partnership with Apple through 2031 to develop and supply custom chips, easing concerns over the iPhone maker's reliance on the semiconductor company.
According to Broadcom's recent SEC filing:
"Broadcom Inc. (“Broadcom”) and Apple Inc. (“Apple”) have agreed to expand their long-standing technology collaboration through 2031 by entering into new multi-year long-term agreements for Broadcom to develop and supply a range of custom ASIC silicon products for use in multiple generations of Apple products."
The agreement covers a range of custom silicon products that will be used across multiple generations of Apple devices.
Financial terms of the extension were not disclosed.
Broadcom has supplied Apple with key components for years, including radio frequency chips that enable iPhones to connect to cellular networks, Wi-Fi and Bluetooth connectivity chips, and other networking semiconductors.
Although Apple has developed several in-house chips, including its C1 modem, it continues to rely on Broadcom for wireless and radio-frequency components.
The companies had previously announced a multibillion-dollar agreement in 2023 for Broadcom to develop and manufacture 5G radio frequency components.
The latest extension builds on that relationship and secures Broadcom's role in Apple's supply chain through the end of the decade.
The extended partnership aligns with Apple's strategy of securing long-term supply agreements with key semiconductor companies to strengthen the resilience of its supply chain.
Apple relies on Taiwan's TSMC, the world's largest contract chipmaker, to manufacture its in-house processors, including the M-series chips used in Mac computers and the A-series processors that power iPhones.
Demand for advanced chips has intensified as artificial intelligence adoption accelerates.
The growth of AI inference—the process by which models respond to user queries—has increased demand for custom chips and advanced processors, creating greater competition for manufacturing capacity.
TSMC has faced heavy demand from AI chipmakers such as Nvidia. Apple Chief Executive Tim Cook said in April that these capacity constraints had affected iPhone sales.
Apple is also in discussions with Intel to manufacture some chips in the United States, although analysts have said volume production is unlikely before late 2027.
The broader semiconductor industry has experienced rising component costs as AI infrastructure spending continues to expand.
Prices for memory and storage chips have climbed sharply in recent months, driven by increasing demand from AI hyperscalers.
Apple raised prices for its MacBooks and iPads in June after memory chip costs surged as much as 98% during the first half of 2026.
Beyond its relationship with Apple, Broadcom has been expanding its presence in the artificial intelligence market by developing AI-specific chips for other major technology companies, including Alphabet and Meta Platforms.
Rotation is the theme of markets right now, says Tom White, pointing to selling in AI chip stocks while other corners of Wall Street rallied. Memory stocks remain in focus, as Tom points to movers like Micron (MU) in the U.S. and SK Hynix abroad with plans to make a domestic debut.
Tesla stock is showing upward movement. Why is TSLA stock advancing? What Is Driving TSLA’s Earnings Expectations?Over the weekend, investor Gary Black argued Tesla’s Q2 delivery beat was helped by an Iran war-driven spike in gas prices to $3.86 per gallon over the July 4 weekend, up from $2.98 per gallon before the conflict. He also said he expects TSLA to rebound this week as the sell-side raises Q2 and FY 2026 earnings estimates, which could flow through to higher price targets.
Tesla’s delivery debate remains unusually wide, with Black calling estimates "all over the place" while still modeling close to 410,000 Q2 units versus ~406,000 consensus, about a 7% YoY surge if realized.
Premarket trading is taking place against a constructive index backdrop, with S&P 500 futures higher by 0.5%, which can amplify moves in high-beta mega-cap names like Tesla when sentiment improves.
Critical Price Levels To Watch For TSLATesla is sitting in a choppy, mean-reversion zone: it’s trading 0.3% below the 20-day SMA ($399.16) and 0.1% below the 100-day SMA ($398.08), while still 5% below the 200-day SMA ($418.61). That mix typically reads as "range-bound" rather than cleanly trending, especially with price repeatedly gravitating back toward the high-$300s moving-average cluster.
From a levels standpoint, the stock is trying to stabilize above a nearby floor while overhead supply remains obvious from prior pivots.
Key Resistance: $453.00 — a round-number area where rebounds can stall, and it sits well above the current moving-average cluster Key Support: $393.50 — a nearby pivot zone that’s close to current price and can act as the first "line in the sand" for dip-buyers TSLA Earnings Preview: What Analysts Expect for July 2026Looking further out, the next major catalyst for the stock arrives with the July 22, 2026 (confirmed) earnings report.
EPS Estimate: 44 cents (Up from 40 cents YoY) Revenue Estimate: $25.24 Billion (Up from $22.50 Billion YoY) Valuation: P/E of 361.0x (Indicates premium valuation) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $398.55. Recent analyst moves include:
Freedom Broker: Hold (Raises Target to $420.00) (July 2) Morgan Stanley: Equal-Weight (Maintains Target to $415.00) (July 2) Truist Securities: Hold (Raises Target to $430.00) (July 2) Tesla’s Benzinga Edge Rankings: Strengths and WeaknessesBelow is the Benzinga Edge scorecard for Tesla, highlighting its strengths and weaknesses compared to the broader market:
The Verdict: Tesla’s Benzinga Edge signal reveals a growth-heavy profile with mixed momentum and a very weak value score. For longer-term bulls, that usually means the chart needs to confirm (via reclaiming major resistance), because the valuation leaves the stock more sensitive to earnings-estimate changes.
TSLA Stock Price MovementTSLA Stock Price Activity: Tesla shares were up 0.20% at $394.24 at the time of publication on Monday, according to Benzinga Pro data.
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Microsoft is eliminating 4,800 jobs, representing 2.1% of its workforce, with the company's Xbox division losing about one-fifth of its staff in the software giant's latest effort to cut costs in the era of artificial intelligence.
"The way technology is built, deployed, and used is transforming faster than at any point in my time here," Amy Coleman, Microsoft's chief people officer and a 27-year company veteran, wrote in a message to employees on Monday.
Xbox is cutting 3,200 people through fiscal year 2027, Xbox CEO Asha Sharma wrote in an email to division employees, noting that 1,600 roles would be axed on Monday. The other 1,600 exiting is on top of the companywide total of 4,800 leaving immediately.
"I recognize that a year-long restructuring creates additional challenges," Sharma wrote. "Unfortunately, it is not possible to make all the necessary changes in a single day."
The cuts amount to 20% of Xbox employees leaving, according to a person familiar with the matter, who asked not to be named in order to discuss internal changes.
"We will return to growth in 2027," Sharma wrote.
Microsoft has been the worst performer among megacap tech stocks so far in 2026, falling 19% as of Friday's close, as investors fear that generative AI models might displace wide swaths of enterprise software, while Microsoft's own AI models and services have yet to become big hits. Last year Microsoft conducted several rounds of layoffs, including one that cut 9,000 jobs.
While Microsoft recorded accelerating growth in cloud services and LinkedIn in recent quarters, it's lagging in other areas, such as Windows operating system licenses, Surface devices and the Xbox gaming unit, where revenue has been shrinking.
Microsoft stock chart.
As part of Monday's announced changes, four gaming studios will be spun out of Microsoft, Coleman said. The commercial business that focuses on selling to customers will also see reductions.
The Compulsion Games and Double Fine Productions studios, which Microsoft acquired in the 2010s, will become independent again, Sharma said in her note. Ninja Theory and Undead Labs, which joined Microsoft in 2018, "have entered terms to join new ownership."
France-based Arkane Studios, which arrived at Microsoft through the $8.1 billion ZeniMax Media acquisition in 2021, is in touch with its works council regarding strategic options, Sharma wrote.
In April, Microsoft introduced a one-time voluntary retirement program, a first for the company. The effort has targeted U.S. employees at the senior director position and below. Over one-third of eligible employees have accepted the offer, and the company "will continue exploring similar approaches in the future," Coleman wrote.
"Decisions like these are never easy, and you have my commitment that we are constantly looking for ways to reduce the need for job eliminations," Coleman wrote.
While much of Wall Street's concerns about Microsoft are tied to the company's position in AI and CEO Satya Nadella's failure to lay out a coherent strategy for its approach to developing models, agents and other services, AI isn't replacing laid-off workers, Coleman wrote.
"At the same time, what is true is that AI is changing how work gets done," she wrote. "Some of the tasks we do every day can now be automated, and that means we all need to keep learning, keep building new skills, and keep adapting as the work evolves. Our customers are navigating this same shift, and they're counting on us to help them through it. We can't do that well unless we're doing it ourselves."
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Microsoft CEO Satya Nadella George Chan/Getty Images Microsoft announced plans to lay off around 4,800 employees, or 2.1% of its global workforce, on Monday, confirming Business Insider's earlier report.
The cuts mostly impact the sales and Xbox gaming organizations, Microsoft HR chief Amy Coleman wrote in an email to employees. Microsoft's Xbox division also plans to cut 20% of its workforce this fiscal year. Xbox will account for 1,600 of Monday's cuts.
Microsoft is cutting costs as it spends heavily in AI infrastructure, while facing growing investor concerns that AI could upend traditional software. Those worries helped send Microsoft's stock down 19% in June, its worst monthly performance since the dot-com era.
Microsoft typically cuts 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.
Microsoft had more than 220,000 employees prior to the cuts.
As part of cost-cutting, Microsoft also earlier this year launched a voluntary retirement program offering buyouts to some employees.
About one-third of nearly 9,000 eligible employees took the buyout, in line with expectations, according to a person familiar with the program. That allowed Microsoft to cut a lower percentage of its workforce compared to last year, this person added.
Microsoft's latest layoffs reflect a broader balancing act playing out across Big Tech. Even as tech companies pour record amounts of money into AI infrastructure, they are looking for ways to offset those costs by trimming their workforce and operating more efficiently. In May, Meta laid off around 8,000 employees, accounting for about 10% of the company's total workforce. Amazon, Coinbase, Google, and Block have also laid off employees in recent months.
Read the memo Coleman sent to employees:
"When I stepped into this role, I promised to communicate more openly with you and share the "why" behind our decisions.
Today we are eliminating around 4,800 roles, about 2.1% of our global workforce, as we focus our people, investments, and energy on the priorities that will keep Microsoft positioned to deliver for customers in a fast-changing industry. The people whose jobs are impacted today are our colleagues and friends. They have made meaningful contributions to Microsoft, and we are deeply grateful for everything they have done.
Decisions like these are never easy, and you have my commitment that we are constantly looking for ways to reduce the need for job eliminations. Whenever possible, our priority is to place people into new roles aligned to the company's highest priorities and greatest areas of opportunity. Over the past year, we have redeployed more than 4,000 employees into new roles, including another 500 this month. We will also transition four of our gaming studios to operate independently under new management, with the goal of preserving both their intellectual property and ongoing projects. In addition, more than 30% of eligible employees chose to participate in our recent voluntary retirement program, and we will continue exploring similar approaches in the future. While this doesn't change the difficulty of today's news, we will continue to do everything we can to create opportunities for our people, reduce the need for job eliminations where possible, and responsibly support those affected with care and respect.
The "why" is this: our business is changing because the world around it is changing. The way technology is built, deployed, and used is transforming faster than at any point in my time here. Our customers' needs are shifting, the business models that serve them are shifting, and that means the work itself — what we do, where we focus, and how we're organized — has to transform too. Companies don't get to choose whether their industry changes; they only get to choose whether they change with it. That means we will need to adjust resources and roles and shift how we operate so we can have the greatest impact for our customers.
I also want to be direct that the roles eliminated today are not being replaced by AI. At the same time, what is true is that AI is changing how work gets done. Some of the tasks we do every day can now be automated, and that means we all need to keep learning, keep building new skills, and keep adapting as the work evolves. Our customers are navigating this same shift, and they're counting on us to help them through it. We can't do that well unless we're doing it ourselves. This comes down to two commitments: making the decisions needed to drive differentiated customer value, and supporting the people affected by them.
First, we will make the hard changes required to build differentiated products and services that deliver differentiated customer value. We are aligning our investment, people, and energy to our business priorities. Today's changes mostly impact our Commercial and XBOX organizations. In our Microsoft Commercial Business, they build on last week's Frontier Company announcement, reshaping how we work and embedding our engineering experts alongside customers so we can help them accelerate their technology deployments. In XBOX, we are restructuring to position the business for long-term success. Engineering teams across the company will also continue to evolve their structure and priorities to meet customer needs and innovate for the future.
Second, we will do this thoughtfully. As mentioned above, we are working on alternative solutions to job eliminations and beyond this, we will continue to invest in equipping employees with new skills, including in AI. For those who are impacted, we provide financial support and resources to help them take their next step.
I know many of you want to help those who are leaving but aren't sure how. Reach out and check in on your colleagues. Use your network to bring people together, share what makes them exceptional, and help create connections to opportunities that might not happen otherwise.
We are still early on this journey, and there will be more changes ahead; other parts of our business will need to make similar changes. Each time, you can hold us to the two commitments.
During my time at Microsoft, I've seen this company reinvent itself again and again. What makes that possible has always been our people — their resilience, creativity, and willingness to keep learning.
Thank you for everything you bring to Microsoft.
Amy"
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Microsoft Layoffs Artificial Intelligence More Big Tech
Xbox CEO Asha Sharma Bloomberg/Getty Images Microsoft's Xbox division plans to cut 20% of its workforce this fiscal year, according to a memo new Xbox CEO Asha Sharma sent to employees on Monday.
Microsoft announced plans to lay off around 4,800 employees, or 2.1% of its global workforce, on Monday, confirming Business Insider's earlier report.
Xbox will account for 1,600 of Monday's cuts, including through studio spinouts, and the unit plans to a total of 3,200 employees throughout the current fiscal year ending in June. The total cuts will equal 20% of Xbox's workforce, according to a person familiar with the changes.
"Our business today is not healthy," Sharma wrote in the email. "We are operating at margins that are 3—10x lower than comparable platform and publishing businesses."
Xbox layoffs have been expected since new gaming CEO Asha Sharma sent a memo to employees calling for a "reset" of the business. Microsoft is also broadly cutting costs as it spends heavily in AI infrastructure.
Read the memo"Team,
We are beginning the most significant restructure in XBOX history. After careful consideration, I've made the difficult decision to reduce our team by approximately 3,200 throughout FY27. This will include approximately 1,600 role eliminations today, and in addition, four studios will leave XBOX to new management. I recognize that a year-long restructuring creates additional challenges. Unfortunately, it is not possible to make all the necessary changes in a single day, and I wanted to be direct about the scale.
I know this is painful. These changes will directly affect people who have poured their creativity into building XBOX. Many joined us through acquisitions, while others were recruited here, or sought us out because they loved this industry and loved XBOX. Today's decisions do not reflect their talent or dedication.
Our business today is not healthy. We are operating at margins that are 3—10x lower than comparable platform and publishing businesses. We entered Gen 9 with a smaller install base and a higher cost structure. To grow, we bet on Game Pass, multi-platform, and a broader portfolio of content. While those businesses have created meaningful value, they did not grow at the pace we expected. As that happened, our core business weakened, and we added more teams, more investment, and more time, hoping for a better outcome. And now the industry is facing the most severe hardware crisis in its history. We must reset XBOX.
First, we will reset our content portfolio.
Since 2018, we have aggressively expanded our studio portfolio while the number of games created each month across the industry now outpaces the last ten years combined. We now find ourselves competing not only with the largest publishers, but also with smaller independent studios. It is neither possible nor desirable to own every great independent studio. We have also learned that we are not the best home for every type of studio; in a typical year, we lost 64 cents for every dollar we invested. As we reset XBOX, we will help independent creators succeed by providing open development tools and audiences to realize their vision.
Compulsion Games and Double Fine Productions will return to management and transition to independent studios with their IP, catalog, and runway for their next games. Ninja Theory and Undead Labs have entered terms to join new ownership with funding to complete and grow Senua and State of Decay 3. In France, Arkane's management is beginning required consultation with its Works Council to review potential strategic options.
We are also making reductions across other units, and in some cases, shifting investment to focus on higher priority projects. These changes vary in size across Activision, Bethesda/ZeniMax, Blizzard, King, Mojang, and XBOX Game Studios. None of our first party publicly announced games or projects are being cancelled as part of these reductions.
In addition, Mojang and King will now report directly to me. These two studios have increasingly become platforms and are our largest by monthly active players. They bring critical geographic, demographic, and differentiation to XBOX.
Second, we will reset our platform.
We know that great technology gets better when it gets simpler, not bigger. Today, in some parts of the company, work passes through as many as 14 layers of management. Our platform teams are 40% larger than they were at the start of this generation, even as our player base and playtime have declined. That complexity has slowed decisions, blurred accountability, and made it harder to deliver for players. As we reset XBOX, we will simplify.
We will reduce management layers to no more than 5, and where possible, 3. We will deliver success through a flatter organization that is built around makers (individual contributors focused on building), player-coaches (leaders who remain deeply involved in the work while developing their teams), and directly responsible individuals (DRIs) who own key decisions and outcomes. And we will streamline how we work across our tools, with a cleaner code base, shared services, and 50% reduced vendor spend.
Third, we are resetting how we operate.
As XBOX grew our headcount, we became more fragmented. Teams, studios, and functions often operate independently, and it became harder to work towards a shared goal, make the right tradeoffs, and get things done.
For the first time, we are establishing a Chief Operating Officer with end-to-end P&L responsibility across content, hardware, platform, and services. Helen Chiang has been promoted to this role and will report directly to me. Over nearly two decades at XBOX, Helen has helped build some of our most important businesses, from XBOX Live to leading Mojang and the Minecraft franchise. She will bring our businesses together under one operating model, making sure we make clear investment decisions, learn from our successes and failures, and hold ourselves accountable for results.
Thank you, Dave McCarthy, who is retiring after 17 years with XBOX. Dave has played a defining role in building the platform that millions of players rely on every day and has been a trusted partner through many of the biggest moments in XBOX's history. We wish him all the best.
These changes are about a bigger future for XBOX, not a smaller one. The next decade of gaming will be larger, more global, and more creative than anything we've seen before. This year, we'll invest as much in XBOX as we ever have, but we'll invest with greater focus, greater discipline, and greater clarity, all in service of making XBOX where the world plays and creates.
I want XBOX to be one of the few companies that entertains more than a billion people each day and gives everyone the opportunity to create and connect. I know we can achieve this goal. XBOX has many of the most beloved franchises in entertainment history, talented studios around the world, and we will return to growth in 2027.
History is full of companies that mistake longevity for inevitability. We will not be one of them.
Asha"
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Microsoft Xbox Layoffs More Artificial Intelligence Enterprise Software
Microsoft’s Redmond headquarters. (GeekWire File Photo) Microsoft is cutting 4,800 jobs, just over 2% of its global workforce, citing a need to revamp its sales and consulting division to keep pace with a rapidly changing tech industry, while overhauling its Xbox business in a push for long-term growth and profitability from gaming.
The cuts include about 600 jobs in Washington state, home to Microsoft’s Redmond headquarters. That’s down from 3,200 job reductions locally a year ago. Combined with ongoing hiring, Microsoft’s workforce in the state is expected to remain stable at around 52,000 people.
About 1,600 of the 4,800 job cuts being announced Monday are in the Xbox division. Additional Xbox layoffs in the months ahead are expected to bring total job reductions in the gaming division to roughly 3,200, or about 20% of the global Xbox workforce, this fiscal year.
Microsoft is also spinning off four Xbox game studios to operate independently.
In an internal memo, Xbox CEO Asha Sharma called it the biggest restructuring in Xbox history, saying the division has been “operating at margins that are 3-10x lower than comparable platform and publishing businesses” and that studios have been losing 64 cents for every dollar invested.
Overall, top executives sought to distinguish Microsoft from other tech giants, saying the cuts were minimized by the redeployment of more than 4,000 employees into new roles over the past year and a voluntary retirement program that let thousands more exit by their own choice.
By comparison, the company last year cut more than 15,000 jobs globally in two rounds of layoffs in spring and summer 2025 — the largest reductions in more than a decade.
The latest cuts come amid record capital spending on the company’s AI infrastructure, pressure from Wall Street to keep operating expenses in check, and a 30% stock slide that has wiped out roughly $1.2 trillion in Microsoft’s market value over the past nine months.
“Microsoft can only be a strong employer if it has a successful business,” said Brad Smith, its president and vice chair, in an interview with GeekWire. “We have to adapt to change.”
Before the latest cuts, the company’s total workforce was about 220,000 people. Across the company, Microsoft expects worldwide headcount to decline year-over-year, CFO Amy Hood said on an April earnings call.
Amy Coleman, Microsoft’s chief people officer, said in a memo to employees Monday morning that the roles the company is eliminating today are not being directly replaced by AI.
At the same time, she acknowledged, “AI is changing how work gets done.” She added, “Some of the tasks we do every day can now be automated, and that means we all need to keep learning, keep building new skills, and keep adapting as the work evolves.”
However, the line from Coleman’s memo that may get the most attention internally is this: “We are still early on this journey, and there will be more changes ahead; other parts of our business will need to make similar changes.”
In an interview, Coleman stopped short of signaling further layoffs across the company. Instead, she described a larger shift in how Microsoft manages its workforce. That includes reskilling engineers for customer-facing and AI-focused positions, and exploring how to make voluntary exit programs a regular part of the company’s operations — not just a one-time offer, but potentially something employees could opt into annually or on an ongoing basis.
Coleman confirmed that about 30% of roughly 8,750 eligible U.S. employees accepted Microsoft’s first-ever voluntary retirement program in recent weeks, in line with the company’s expectations, which reduced the size of the reduction in force announced Monday.
The cutbacks and changes in the company’s sales and consulting teams build on last week’s launch of the Microsoft Frontier Company, a $2.5 billion initiative to embed 6,000 engineers inside customers to deploy AI. The shift is reducing some traditional sales and consulting roles and resulting in more technical positions working directly with customers.
“We’re seeing that we need more engineering excellence in the customer space,” she said.
Smith said software development is undergoing its biggest shift in the more than 50 years since Microsoft’s founding. The widespread use of AI is making code cheaper and faster to produce, but he said that’s also creating demand for new kinds of roles and work.
“Some things like coding require less time of software developers,” he said. “At the same time, there’s new parts that are growing, whether it’s the product management or software design, or perhaps most importantly, working directly with customers.”
A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, March 25, 2024. REUTERS/Gonzalo Fuentes/File Photo Purchase Licensing Rights, opens new tab
July 6 (Reuters) - Microsoft (MSFT.O), opens new tab is cutting about 2.1% of its workforce, or roughly 4,800 jobs, the latest in a wave of tech layoffs as the Windows maker spends heavily on AI infrastructure and uses the technology to improve efficiency across its business.
Big Tech's historic AI outlays, set to top $700 billion this year, are piling pressure on companies to show returns from the technology and offset the rising cost of rolling it out across their businesses. Amazon (AMZN.O), opens new tab and Meta Platforms (META.O), opens new tab have also laid off thousands of employees this year.
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Microsoft announced the cuts on Monday following a rough stretch, with its shares falling nearly 23% in the first six months of 2026, their worst first-half performance since 2022.
The software giant earlier this year offered voluntary buyouts to about 7% of its U.S. workforce, or about 9,000 employees. Microsoft often trims jobs near the end of its fiscal year in June as it sets spending plans for the new year.
Booming AI demand has powered growth at Microsoft's Azure cloud-computing business, which was the exclusive seller of OpenAI's models until April, but the mounting cost of building data centers to run those services is squeezing its cash flows.
The company, expected to report results later this month, had in April forecast quarterly Azure sales above Wall Street estimates, but also issued a $190 billion spending projection for 2026 that massively surpassed expectations.
AI tools that can increasingly automate routine business tasks have also emerged as a threat to its lucrative software business, while a surge in memory chip prices driven by data center demand has forced Microsoft to raise Xbox console prices at a time when demand for the console was already soft.
The gaming division's new head, Asha Sharma, said last month the business needed a "reset" and that its profit margin had declined to 3%, forcing a restructuring that could include potential M&A.
"Excluding Activision Blizzard King, over the past five years, we have spent over $20 billion on ongoing investments in our content, platform and hardware subsidy, but our annual revenue has declined nearly half a billion during that time," she said in an outspoken memo to employees published on Microsoft's website. "Going forward, this cannot continue."
The company is considering options for the Xbox gaming unit, including a potential spinoff or restructuring as a wholly owned subsidiary, the Information reported last month.
Reporting by Aditya Soni in Bengaluru; Editing by Tasim Zahid and Leroy Leo
Our Standards: The Thomson Reuters Trust Principles., opens new tab
NEW YORK, July 06, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Microsoft Corporation (NASDAQ: MSFT) that four senior executives are named as individual defendants in a securities class action alleging they personally controlled the false and misleading statements that inflated MSFT shares above $550 during the Class Period. Find out if you qualify to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
The lawsuit, filed in the United States District Court for the Western District of Washington, covers purchasers of Microsoft securities between May 1, 2025 and January 28, 2026. The complaint asserts claims under Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934, naming the Company and four officers who allegedly directed, approved, or ratified materially misleading public statements about Microsoft's AI initiatives and Copilot product family. Investors have until August 11, 2026 to seek lead plaintiff status.
The Named Individual Defendants
The action identifies the following officers as controlling persons:
Satya Nadella, CEO and Chairman of the Board, who allegedly proclaimed Copilot offered "best-in-class" capabilities and touted Azure AI infrastructure as "obviously at scale" while concealing significant operational deficienciesAmy E. Hood, CFO and Executive Vice President, who co-signed SEC filings attesting to accuracy and completeness while allegedly omitting material adverse facts about Copilot adoption and AI return on investmentJared Spataro, Chief Marketing Officer, AI at Work, who allegedly told investors "70% of the Fortune 500 are using Copilot in a pretty extensive way" without disclosing brand positioning and interoperability failures. This figure later increased to an alleged 90%.Rajesh Jha, Executive Vice President, Experiences and Devices, who allegedly claimed the competitive "gap is very significant and growing" in Copilot's favor while aware of data siloing and user experience problems. Jha announced his retirement in March 2026 after more than 35 years Sarbanes-Oxley Certification Obligations
The complaint charges that Nadella and Hood signed quarterly and annual reports on Forms 10-Q and 10-K filed with the SEC, personally certifying under Sections 302 and 906 of the Sarbanes-Oxley Act that those filings were accurate and materially complete. The pleading asserts these certifications were false because the filings failed to disclose that Copilot suffered from significant brand positioning, user experience, usage, data siloing, computational capacity, organizational, and interoperability problems.
Section 20(a) Control Person Framework
Section 20(a) of the 1934 Act imposes liability on individuals who "controlled" a company that violated federal securities laws. The complaint alleges each Individual Defendant was directly involved in management and day-to-day operations at the highest levels, was privy to confidential information, and participated in drafting, reviewing, or disseminating the alleged misstatements. Each defendant allegedly had the ability to prevent issuance of the false statements or cause them to be corrected.
"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When officers sign SEC certifications and make representations at investor conferences, they bear personal responsibility for the truthfulness of those disclosures." -- Joseph E. Levi, Esq.
Scienter Allegations
The action contends that each defendant knew or recklessly disregarded that Microsoft's public statements painted a misleading picture of Copilot's success and AI investment returns. The complaint points to the defendants' senior positions, their direct involvement in AI strategy, their access to internal data on Copilot adoption and performance, and their participation in earnings calls and investor conferences where the alleged misrepresentations were made.
Submit your information to join the recovery or call Joseph E. Levi, Esq. at (212) 363-7500.
ABOUT LEVI & KORSINSKY, LLP -- Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.
Frequently Asked Questions About the MSFT Lawsuit
Q: Who are the defendants named in the MSFT lawsuit? A: The complaint names Microsoft Corporation and individual defendants including CEO Satya Nadella, CFO Amy E. Hood, CMO AI at Work Jared Spataro, and EVP Experiences and Devices Rajesh Jha, all of whom signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What is the MSFT lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is August 11, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: Who is eligible to join the MSFT investor lawsuit? A: Investors who purchased MSFT stock or securities between May 1, 2025 and January 28, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.
Q: What if I already sold my MSFT shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: How do I know if I lost enough money to be the lead plaintiff? A: There is no minimum loss threshold. Courts appoint the investor with the largest provable loss who is willing and able to represent the class adequately. Contact Levi & Korsinsky before August 11, 2026 to evaluate.
CANADA - 2026/07/01: In this photo illustration, the Microsoft logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)
SOPA Images/LightRocket via Getty Images
This article was written by Doug Nathman, with research by his team at Trefis.
Microsoft (MSFT) shares have faced challenges, experiencing a 20% decline over the past year and significantly lagging behind the market. The discussion is primarily centered around one substantial figure: a strategy to allocate approximately $190 billion toward capital expenditures in the calendar year 2026. Skeptics question whether the appetite for artificial intelligence is robust enough to justify this investment.
However, another, more revealing statistic receives far less focus. It serves as a counterpoint to the stock's performance.
This figure is Microsoft’s Commercial Remaining Performance Obligation, or RPO. In simpler terms, it reflects the company’s backlog of contracted future revenue derived from signed agreements. It currently amounts to $627 billion.
How Valid Is This Anticipated Revenue?A significant number is one aspect; gaining momentum is another. This backlog is not just a stagnant accumulation of outdated contracts. The company's commercial RPO has increased by 26% year-over-year, even when factoring out the substantial commitments from its associate OpenAI. This illustrates widespread demand throughout the business.
Even more indicative for the near future is the speed at which new business is being secured. The segment of the backlog expected to be recognized as revenue within the following 12 months has risen by 39% year-over-year. This offers a distinct perspective on the company’s growth trajectory, suggesting that clients are entering into new, high-value agreements.
How This Backlog Mitigates Risks Associated With The AI Spending SurgeThe apprehension regarding Microsoft’s expenditure arises from a perceived disconnect between investment and returns. Nevertheless, the RPO figure addresses this disparity. It signifies legally binding commitments from clients to pay for services in the future.
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This capital expenditure is not being utilized based on mere speculation; it is being invested to develop the capacity necessary to accommodate demand that, to a great extent, has already been secured. This backlog serves as proof that the enterprise is investing to meet a contracted reality, progressing beyond a mere forecast. To gain further insight into how the company generates value through its platform, it is essential to comprehend its business model.
For investors monitoring Microsoft, the key earnings will always be significant. However, a clear indication of whether the company’s substantial investment is being met with demand lies in its RPO. As long as this backlog of anticipated business continues to expand, it implies that the company’s situation is more favorable than what the recent stock price suggests.
And if your aim is broad exposure to technology rather than just this single entity, a technology ETF like VGT encompasses that entire sector.
A Strong Signal Doesn't Justify Bet the Farm
A buy signal this evident merits action — but not with more of your net worth than you can afford to potentially see diminish by half. Strong conviction can lead single positions to quietly grow too large, and one unforeseen negative can inflict lasting harm, while selling to rebalance can provide a portion to the IRS. There exists a means to safeguard the position and diversify in a tax-efficient manner.
On the morning of Monday, July 6, Goldman Sachs (NYSE: GS) analyst James Schneider revised his 12-month outlook for the world’s second-largest semiconductor company, Advanced Micro Devices (NASDAQ: AMD).
According to the note, the Wall Street expert lifted his AMD price target from the previous $450 to $640 and retained the ‘Buy’ rating. Considering the blue-chip chipmaker is, at press time, trading at $559.85, it is likely the change is primarily to bring the forecast in line with both the actual stock market performance and the continued bullish outlook.
The move also represents an important show of confidence amidst the latest developments within the wider artificial intelligence (AI) space, considering the analyst’s previous note explicitly cited the expected tailwinds from agentic AI and continued data center GPU demand as reasons for the lift.
Wall Street sets AMD stock price target for the next 12 months Elsewhere, Goldman Sachs’ latest rating of AMD stock is largely in line with the consensus view on Wall Street. Specifically, the chipmaker is overall considered a ‘Strong Buy,’ with data Finbold retrieved from TipRanks on July 6 showing that 28 out of the 35 analyst who voiced their opinion in the last three months see it as such.
Wall Street sets AMD stock price target for the next 12 months. Source: TipRanks Still, the average price target gives some room for caution as it estimates that AMD shares will fall 8% to $515.69 in the coming 12 months, though, notably, James Schneider is not the only Wall Street expert to anticipate a rally instead.
AMD stock soars 150% in 2026 Meanwhile, Advanced Micro Devices has been among the best-performing major stocks in the U.S. market so far in 2026. With its press time price of $559.85, the semiconductor giant is 150.53% in the green year-to-date (YTD).
AMD stock price YTD chart. Source: Google Furthermore, despite June’s general slowdown in the technology sector, AMD shares are up 14.18% over the last 30 days.
Lastly, despite the scale of its YTD rally, the firm headed by CEO Lisa Su is not the top-performing semiconductor company of 2026, with the President Donald Trump administration-backed Intel (NASDAQ: INTC) rising 218.55% since January 2 – the first regular session of the year.
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Citigroup Inc. (NYSE:C) will release earnings for its second quarter before the opening bell on Tuesday, July 14.
Analysts expect the bank 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 30, Oppenheimer analyst Chris Kotowski downgraded Citigroup from Outperform to Perform.
With the recent buzz around Citigroup, some investors may be eyeing potential gains from the company’s dividends too. As of now, Citigroup has an annual dividend yield of 1.71%, with a quarterly dividend of 60 cents per share ($2.40 per year).
So, how can investors exploit its dividend yield to pocket a regular $500 monthly?
To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $349,925 or around 2,500 shares. For a more modest $100 per month or $1,200 per year, you would need $69,985 or around 500 shares.
To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($2.40 in this case). So, $6,000 / $2.40 = 2,500 ($500 per month), and $1,200 / $2.40 = 500 shares ($100 per month).
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
How that works: The dividend yield is computed by dividing the annual dividend payment by the stock’s current price.
For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).
Similarly, changes in dividend payments can affect the yield. If a company increases its dividend, its yield will also increase, provided the stock price remains unchanged. Conversely, if the dividend payment decreases, so will the yield.
C Price Action: Shares of Citigroup fell 0.1% to close at $139.97 on Thursday.
Photo via Shutterstock
Market News and Data brought to you by Benzinga APIs
Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.
Life and the stock market are both about expectations, and rising above what is expected is often rewarded, while falling short can come with negative consequences. Investors might want to try to capture stronger returns by finding positive earnings surprises.
Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.
The Zacks Earnings ESP, ExplainedThe Zacks Expected Surprise Prediction, or ESP, works by locking in on the most up-to-date analyst earnings revisions because they can be more accurate than estimates from weeks or even months before the actual release date. The thinking is pretty straightforward: analysts who provide earnings estimates closer to the report are likely to have more information.
Now that we understand the basic idea, let's look at how the Expected Surprise Prediction works. The ESP is calculated by comparing the Most Accurate Estimate to the Zacks Consensus Estimate, with the percentage difference between the two giving us the Zacks ESP figure.
When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.
Stocks with a ranking of #3 (Hold), or 60% of all stocks covered by the Zacks Rank, are expected to perform in-line with the broader market. Stocks with rankings of #2 (Buy) and #1 (Strong Buy), or the top 15% and top 5% of stocks, respectively, should outperform the market; Strong Buy stocks should outperform more than any other rank.
Should You Consider Citigroup?Now that we understand what the ESP is and how beneficial it can be, let's dive into a stock that currently fits the bill. Citigroup (C - Free Report) earns a #3 (Hold) right now and its Most Accurate Estimate sits at $2.77 a share, just eight days from its upcoming earnings release on July 14, 2026.
By taking the percentage difference between the $2.77 Most Accurate Estimate and the $2.65 Zacks Consensus Estimate, Citigroup has an Earnings ESP of +4.74%. Investors should also know that C is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
C is just one of a large group of Finance stocks with a positive ESP figure. NewtekOne (NEWT - Free Report) is another qualifying stock you may want to consider.
NewtekOne is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on July 27, 2026. NEWT's Most Accurate Estimate sits at $0.47 a share 21 days from its next earnings release.
The Zacks Consensus Estimate for NewtekOne is $0.46, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +1.44%.
C and NEWT's positive ESP metrics may signal that a positive earnings surprise for both stocks is on the horizon.
Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
AuMEGA Metals Ltd (ASX:AAM, TSX:AUM, OTCQB:AUMMF, FRA:FRA: MA30) has appointed experienced mining executive and geologist Rafael Gradim as president, effective August 1, 2026, as the company advances exploration across its district-scale gold portfolio in Newfoundland and Labrador, Canada.
Michael Skead has stepped down as president, effective immediately, for personal reasons. Gradim will be based in Toronto and will take responsibility for AuMEGA’s exploration activities, including planning, execution and advancement of exploration programs across the company’s land package.
Gradim brings more than 22 years of experience across exploration, resource development, mine geology, corporate development and mining-focused private equity. AuMEGA said his background gives him a mix of technical expertise, strategic judgement and capital markets perspective.
He has contributed to the advancement of major gold projects from early-stage exploration through to production and has led technical due diligence on hundreds of mineral assets globally. Before joining AuMEGA, he held senior technical and corporate development roles with Vale Base Metals, Resource Capital Funds, Eldorado Gold and Gold Fields Limited.
Managing director and CEO Sam Pazuki said Gradim’s exploration leadership and technical depth made him well-suited to lead AuMEGA’s next phase of growth across its Newfoundland portfolio.
“We are very pleased to welcome Rafael as President of AuMEGA. Rafael brings an exceptional blend of exploration leadership, technical depth and strategic perspective gained across major mining companies, corporate development and in the buy-side. His proven ability to identify overlooked opportunities, assess geological potential and align exploration strategy with shareholder objectives makes him ideally suited to lead our exploration efforts as we advance the next phase of growth across our Newfoundland portfolio.
“I also want to express my sincere appreciation to Mike for the significant impact he has had on AuMEGA. Mike has brought tremendous technical insight and leadership to the organisation, and his contributions have helped strengthen the Company’s exploration platform and strategic direction. I am grateful for the value Mike has brought to the organization and wish him all the very best.”
Newfoundland portfolio in focus Gradim said AuMEGA’s Newfoundland portfolio stood out as a district-scale opportunity with the potential to unlock significant value through disciplined, technically driven exploration. He said the company would focus on prioritising the highest-impact opportunities across the portfolio.
“I am excited to join AuMEGA at such an important stage in the Company’s development. Over the course of my career, I have had the opportunity to evaluate hundreds of mineral projects globally, and AuMEGA’s Newfoundland portfolio stands out as a district-scale opportunity with tremendous potential to unlock significant value through disciplined, technically driven exploration.
"The company has assembled a highly prospective land package, is supported by one of the strongest shareholder registers in the sector, and benefits from a Board and team with deep exploration, development, capital markets and operating experience. I look forward to working with Sam, the Board and the broader AuMEGA team to prioritize the highest-impact opportunities across the portfolio and help drive the Company’s next phase of growth.”
The appointment comes as AuMEGA continues work across a land package spanning 110 kilometres along the Cape Ray-Valentine Shear Zone, described by the company as Newfoundland’s largest identified gold structure. The zone hosts Equinox Gold (TSX:EQX)’s Valentine Gold Project as well as AuMEGA’s existing mineral resource.
About AuMEGA Metals AuMEGA Metals is exploring a district-scale gold portfolio in Newfoundland and Labrador, Canada, including ground along the Cape Ray-Valentine Shear Zone and a 27-kilometre stretch of the Hermitage Flexure.
The company’s Cape Ray Shear Zone hosts several high-potential targets and an existing defined gold mineral resource of 6.2 million tonnes at 2.25 g/t gold for 450,000 ounces in indicated resources, plus 3.4 million tonnes at 1.44 g/t gold for 160,000 ounces in inferred resources.
Nvidia stock is up 4.5% this year coming into Monday's session. (Courtesy Nvidia)
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