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22 July 2026 | 19:46 Solana is trading around $78, caught between improving spot ETF flows and a technical structure that has not yet committed to a direction.

Key Takeaways Four consecutive ETF weeks remain positive. Current inflows exceed three prior weeks combined. SOL remains trapped between $73 and $84. $79 is the first breakout hurdle. Alpenglow could become the next catalyst. The price has recovered substantially from the June low near $60, but it remains inside the $73 to $84 range that has controlled trading since the crash. SOL is also sitting just below its flat 100-day simple moving average at $79, placing the market directly beneath its first meaningful resistance.

At the same time, Solana spot ETFs have recorded four consecutive positive weekly readings, creating a more supportive flow backdrop while the chart remains unresolved.

ETF Demand Is Accelerating, Not Merely Staying Positive The four-week sequence shows uninterrupted net inflows into Solana spot ETFs, but the size of those inflows has changed considerably.

Weekly Reading Total Net Inflow July 21, 2026 $8.47 million July 17, 2026 $948,210 July 10, 2026 $930,430 July 2, 2026 $5.75 million The latest $8.47 million total came from $2.64 million on July 20 and another $5.83 million on July 21, per SoSoValue data. Those two days alone brought in more than the approximately $7.63 million recorded across the previous three positive weekly readings combined.

The concentration of demand in the latest period strengthens the flow signal, but ETF inflows do not automatically resolve the price structure. SOL remains below the resistance levels that have repeatedly contained the recovery, meaning the data supports the base without confirming a breakout.

The June Crash Has Turned Into a Defined Range The June decline pushed Solana toward $60 before buyers established a recovery. Since then, price has formed a sequence of higher lows, but every stronger advance has stalled beneath the upper part of the current range.

Daily Solana technical price chart / Source: TradingView The result is a sideways consolidation between approximately $73 and $84. The rising 50-day simple moving average at $73 now overlaps with the lower boundary, giving the range floor both horizontal and moving-average support.

SOL is positioned near the middle of that structure rather than at either extreme. That limits the significance of small daily moves around $78, as price is neither breaking resistance nor threatening the base.

The flat 100-day average reinforces the neutral reading. Its position directly above the market shows that the earlier downtrend has lost some momentum, but it has not yet been replaced by a confirmed uptrend.

$79 Opens the Door, but $84 Confirms the Move The first test is the 100-day average at $79. A daily close above it would move SOL out of the middle of the range and reopen the path toward $84, where the recovery stalled around the middle of July.

Reclaiming it would improve the short-term structure, but the more important confirmation sits at the range ceiling. A move above $84 with stronger volume would produce the first higher high since May.

That would change the character of the recovery. Instead of continuing to rotate between established support and resistance, SOL would begin breaking the sequence that has kept it under pressure since the earlier highs.

The falling 200-day simple moving average at $89 would then become the next visible obstacle, testing whether the market can extend beyond a range breakout into a broader trend reversal.

The relative strength index is near 55, leaving room for price to move in either direction. Momentum is neither overbought nor deeply weakened, so the outcome is more likely to depend on how SOL reacts at 100 SMA and $84 than on an extreme indicator reading.

Why the $73 Floor Might Define the Entire Base The $73 area combines the range floor with the rising 50-day average, making it the level that protects the recovery from returning to its June structure.

A rejection below the 100-day average would initially keep SOL trapped inside the range. Price could rotate back toward $73 without invalidating the base, provided buyers continue defending that area. A daily close below $73 would be more damaging. It would break both horizontal support and the moving average that has risen beneath price during the recovery. That loss would expose the lower recovery zone near $66, followed by the June base around $60. A return to those levels would show that the recent consolidation failed to establish a durable floor.

Alpenglow Adds a Catalyst Beyond ETF Flows Solana is approaching the expected activation window for its Alpenglow consensus upgrade, scheduled for mainnet between August and October 2026.

The timing remains contingent on the release of the Agave 4.2 client and sufficient validator key registrations to complete the required testing and security audits.

Alpenglow represents a complete overhaul of Solana’s consensus layer, replacing Proof of History and Tower BFT. The approaching upgrade could attract additional market attention while ETF inflows are strengthening.

However, the event would not confirm that the range has ended while SOL remains below $79 and $84. A stronger response would require continued ETF demand, a reclaim of the 100-day average and enough volume to clear the July ceiling. Without that combination, Alpenglow may strengthen the narrative around Solana while price continues moving sideways.

Between Flows and Structure Solana’s backdrop is becoming more constructive, but the price has not yet followed with the same conviction. ETF demand is strengthening and Alpenglow provides a potential catalyst, while the chart remains confined beneath its main resistance levels.

The structure therefore stays neutral until the range resolves. Buyers have protected the recovery so far, but only a confirmed move through the upper boundary would turn the consolidation into something more durable.

This article is provided for informational purposes only and does not constitute financial, investment or legal advice.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

The 0x Solana API now routes swaps involving Token2022 (Token Extensions) tokens. Existing integrations pick this up automatically: no code changes, no new parameter, no version bump.

Teams can now route common Token2022 assets, including PayPal USD (PYUSD), Global Dollar (USDG), tokenized equities, and launchpad tokens.

How it worksTo support Token2022, DEX programs added a second instruction variant that includes the token mint account, letting the DEX check which extensions are active before it builds the swap. Solana caps account locks and transaction size per transaction, so carrying that extra account on non-Token2022 swaps adds real, unnecessary cost.

The Solana Swap API routes around that cost automatically. Pairs not involving Token2022 keep using the lean, existing instruction. Only pairs that touch a Token2022 token switch to the mint-aware variant. Every route gets the cheapest instruction set for the tokens it actually contains, so Token2022 support doesn't tax the swaps that don't need it.

What to knowFor integrators, request and response shapes are unchanged.

Token2022 routing is live across the major of venues and is extending to the full Token2022-ready DEX set as the remaining venues are enabled. The /enabled-sources endpoint returns the current list.

Use casesStablecoin routing: A wallet quoting PayPal USD (PYUSD) or Global Dollar (USDG) pairs settles them directly through the Solana Swap API instead of dropping the request.Tokenized equities: An app offering tokenized securities issued in Token2022 format executes in and out of those assets through the same swap flow it already uses.Launchpad tokens: An aggregator integrated with a Solana launchpad routes that launchpad's Token2022 tokens without handling a rejection.Bridged assets: A wallet supporting tokens bridged to Solana in Token2022 format routes them exactly as it routes SPL tokens.See the guide for the full API reference & examples.

Start building for free by signing up through the 0x dashboard.

Grayscale has filed a new Form 8-K tied to its Solana product, outlining a trust agreement amendment that would allow net staking rewards to be distributed to shareholders at least quarterly.

The filing relates to Grayscale Solana Staking ETF, or GSOL, and was filed with the SEC on July 17. The amendment is expected to become effective on August 7, 2026.

The key point is that this is not a spot Solana ETF approval story.

The filing concerns how staking rewards may be handled for the existing Solana-linked trust structure. It introduces a cash payout mechanism for net staking rewards, which could make the product more attractive to investors who want Solana exposure with a clearer income component.

For Solana, it also shows how staking economics continue to shape institutional product design.

TL;DR Grayscale filed a Form 8-K tied to its Solana staking product on July 17. The amendment would allow net staking rewards to be paid to shareholders at least quarterly. The filing concerns distribution mechanics, not approval of a new spot Solana ETF. Solana Staking Is Becoming Part Of Product Design Solana is a proof-of-stake network, which means staking is central to how the network works.

Tokenholders can delegate SOL to validators and earn rewards for helping secure the chain. In direct ownership, those rewards are part of the appeal. But when investors access SOL through a trust or fund product, staking becomes more complicated.

Who controls the staking process? How are rewards calculated? What fees are deducted? Are rewards reinvested or paid out? How often are distributions made? What risks come with validator selection?

These are not small details for institutional investors.

A product that holds staked SOL but does not clearly pass benefits through to shareholders may be less attractive than one with a defined payout structure. Grayscale’s proposed amendment addresses that question by introducing cash payouts of net staking rewards at least quarterly.

That gives investors a clearer framework for how staking income may be reflected.

Why Quarterly Payouts Matter Quarterly payouts make the product easier to understand.

Traditional investors are used to funds that distribute income on a schedule. Bond funds, dividend funds, and other yield-linked products often use regular distributions to make income visible.

Crypto staking rewards are different, but the investor expectation can be similar.

If a Solana product can translate staking rewards into scheduled cash payouts, it may become easier for advisors, funds, and institutions to evaluate. It turns an on-chain reward mechanism into something closer to a familiar financial product feature.

That does not remove risk.

Staking yields can fluctuate. Validator performance matters. Network conditions can change. Fees and expenses reduce net payouts. Regulatory treatment may evolve.

But the structure is more legible to traditional investors than a vague promise of staking exposure.

Not A Spot ETF Approval It is important to keep the filing in proportion.

The Form 8-K does not mean regulators have approved a new spot Solana ETF. It does not mean Solana has cleared the same path as Bitcoin or Ethereum in the ETF market. It is a trust agreement amendment involving distribution mechanics.

That distinction matters because Solana ETF speculation has been a major market theme.

Traders often react quickly to anything involving Grayscale, Solana, SEC filings, or staking language. But not every filing is an ETF approval milestone. Some filings deal with product operations, disclosures, agreements, or shareholder mechanics.

This one is about staking reward distributions.

That is still meaningful, especially for investors watching how crypto products evolve. It just should not be misread as a regulatory green light for a spot Solana ETF.

Solana Products Are Getting More Sophisticated The broader trend is that Solana investment products are becoming more sophisticated.

As Solana’s network activity, DeFi ecosystem, and institutional profile grow, asset managers have more reason to design products around SOL exposure. Staking is a natural part of that conversation because it is embedded in the network’s economics.

For institutions, the question is not only whether they want SOL exposure. It is what kind of exposure they want.

Direct custody gives maximum control but requires operational infrastructure. Fund products simplify access but introduce fees, structures, and rules around staking. A trust with scheduled net reward payouts sits somewhere in the middle.

Grayscale’s filing shows how these products may evolve before or alongside any future ETF decisions.

Solana investors should watch the effective date and any further disclosures about payout mechanics, expenses, and staking operations.

For now, the filing adds another institutional layer to Solana’s market story.

It does not change the regulatory status of spot Solana ETFs, but it does show that staking rewards are becoming harder for asset managers to ignore.

This article is based on Grayscale’s July 17 SEC Form 8-K filing for GSOL.

This article was written by the News Desk and edited by Samuel Rae.

Silver (XAG/USD) trades with modest gains on Wednesday, supported by a slight pullback in the US Dollar (USD). However, the metal lacks strong upside momentum as traders weigh energy-driven inflation risks and their impact on the Federal Reserve’s (Fed) interest-rate outlook.

At the time of writing, XAG/USD trades around $59.90 after hitting a two-week high of $60.94 earlier in the day.

Traders expect the Fed to keep monetary policy restrictive for longer, while pricing in at least one interest-rate hike this year. Higher borrowing costs typically weigh on non-yielding assets such as Silver.

From a technical perspective, Silver bulls are struggling to hold above the psychological $60.00 mark. Still, XAG/USD trades above the 20-day Simple Moving Average (SMA), the Bollinger middle band, near $58.86, suggesting that buyers retain some control.

Moving Average Convergence Divergence (MACD) is modestly positive, suggesting a slight bullish tilt in short-term pressure, but Average Directional Index (ADX) at 39 indicates the underlying trend remains fairly strong, limiting the scope for abrupt reversals.

On the upside, initial resistance is seen at the intraday high of $60.94, followed by the upper Bollinger Band near $62.39. A sustained break above this area could open the door toward the $70.00 barrier.

On the downside, the 20-day SMA near $58.86 offers immediate support, followed by the lower Bollinger Band at $55.34. A deeper decline could expose the psychological $50 level.

Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

Rocket Lab (RKLB) rose 3.15% premarket after winning a $266 million firm-fixed-price contract from the US Department of War for suborbital launch services. The

Key Takeaways Tesla’s Q2 2026 earnings announcement arrives Wednesday after market close, with analysts forecasting revenue between $26.2 billion and $27.3 billion, representing approximately 16% annual growth Second quarter vehicle deliveries reached 480,126 units, marking a 25% year-over-year increase powered by the refreshed Model Y production ramp, aggressive pricing strategies, and diminishing political controversy Consensus estimates point to adjusted earnings per share of $0.50–$0.55; adjusted EBITDA anticipated around $4 billion versus $2.3 billion in the prior-year period Analysts project deeply negative free cash flow of approximately -$3.25 billion as capital expenditures surge to $6.7 billion for Optimus robot manufacturing, Cybercab development, and artificial intelligence infrastructure TSLA shares have declined roughly 16% in 2026; the company has fallen short of adjusted EPS consensus in five out of eight recent quarters Tesla’s second quarter 2026 financial results arrive Wednesday evening, and unlike previous reporting periods, automotive sales aren’t generating the most anxiety. Trading at $378.93 before Wednesday’s session, the stock has surrendered approximately 16% of its value since January.

Tesla, Inc., TSLA

Analyst consensus calls for quarterly revenue landing between $26.21 billion and $27.3 billion, representing roughly 16% growth versus the comparable 2025 period. On the bottom line, Wall Street anticipates adjusted earnings per share in the $0.50 to $0.55 range, improving from $0.40 one year earlier. Adjusted EBITDA estimates center around $4 billion, approaching double the $2.3 billion recorded in Q2 2025.

Vehicle delivery figures have already been disclosed, and they exceeded expectations. Tesla announced Q2 deliveries totaling 480,126 units, climbing 25% annually and significantly surpassing Bloomberg’s consensus forecast of 397,466 vehicles.

Multiple factors contributed to the outperformance. Production of the redesigned Model Y has reached full capacity following last year’s factory retooling that temporarily constrained output. The company has implemented aggressive price reductions across global markets, stimulating customer demand. Energy storage installations also surged, reaching 13.5 GWh — exceeding Q1’s 8.8 GWh by more than 50%.

Geographic performance shows divergence. Domestic US sales face headwinds, with Cox Automotive estimating a 20% decline following the elimination of federal EV tax incentives. European markets tell a different story. Registrations across Greater Europe jumped nearly 108% in May, with EU-specific registrations more than doubling. Tesla’s response included announcing expanded production capacity at its German Gigafactory.

Chinese market dynamics remain supportive. Deutsche Bank analyst Edison Yu identified Europe as “the standout driver” while noting China continues providing meaningful contribution.

Deepwater Investment’s Gene Munster attributed strengthening demand to the conclusion of what he termed “the EV winter that started in March of 2024,” combined with elevated gasoline prices and waning political controversies associated with DOGE.

Cash Flow Takes Center Stage Wednesday’s primary concern isn’t top-line growth or unit volumes — it’s liquidity. Consensus estimates project Q2 free cash flow deteriorating to approximately -$3.25 billion. This represents a stark reversal from positive FCF of nearly $5.6 billion in Q2 2025. Capital expenditures are forecast at $6.7 billion for the current quarter.

Tesla’s investment spans several initiatives simultaneously: Optimus humanoid robot manufacturing infrastructure, artificial intelligence data center construction, and Cybercab production scaling. For full-year 2026, Tesla has communicated guidance of $25 billion in capital spending, more than doubling the sub-$10 billion invested during 2025.

Automotive gross margins, excluding regulatory credit revenue, are projected around 18%, declining approximately one percentage point sequentially from Q1.

Musk’s AI Commentary Takes Priority The earnings conference call commences at 5:30 p.m. Eastern time. CEO Elon Musk’s participation is anticipated, and market observers suggest his remarks regarding artificial intelligence initiatives — Robotaxi development, Optimus progress, data center expansion — will influence investor sentiment more than quarterly financial metrics.

Morgan Stanley analyst Andrew Percoco articulated the situation directly: “As capex more than doubles and free cash flow turns negative, investors are increasingly focused on evidence that Tesla’s spending is strengthening its physical AI moat.”

An additional consideration entering the announcement: Tesla has underperformed adjusted EPS consensus estimates in five of the previous eight quarters.

Key Takeaways GEV shares declined 2.7% in premarket activity following a Q2 adjusted EPS of $2.47, falling short of the $3.04 analyst estimate Quarterly revenue reached $11.1 billion, representing a 22% year-over-year increase and surpassing the $10.73 billion forecast Company elevated full-year 2026 revenue projections to a range of $45.5–$46.5 billion Free cash flow forecast significantly upgraded to $11.5–$12.5 billion, up from the previous $6.5–$7.5 billion range New orders jumped 88% organically to $24.2 billion, driven primarily by the Power and Electrification divisions GE Vernova unveiled its Q2 2026 financial results on Wednesday, delivering mixed outcomes that exceeded revenue expectations while falling short on earnings. Shares retreated 2.7% during premarket hours following the announcement.

GE Vernova Inc., GEV

The company’s adjusted earnings per share registered at $2.47, significantly trailing the Street’s consensus forecast of $3.04. On the top line, quarterly revenue totaled $11.1 billion, exceeding projections of $10.73 billion and marking a 22% increase compared to the prior-year period.

This expansion was primarily fueled by robust performance in the Power and Electrification divisions, which demonstrated 12% organic growth. These two business units have served as the foundation of GEV’s growth narrative over recent quarters.

$GEV Q2’26 EARNINGS HIGHLIGHTS

🔹 Revenue: $11.10B (Est. $10.7B) 🟢; +22% YoY
🔹 Orders: $24.2B; +88% organic
🔹 Backlog: $176B; +$13B QoQ
🔹 Data Center Orders: Over $5B YTD, more than double 2025 total

FY Guide:
🔹 Revenue: $45.5B-$46.5B (Est. $45.45B) 🟢
🔹 Free Cash Flow:… pic.twitter.com/jXoghJLt1W

— Wall St Engine (@wallstengine) July 22, 2026

Notwithstanding the earnings shortfall, company leadership elevated its full-year 2026 revenue outlook to $45.5–$46.5 billion. This represents an increase from the previous forecast of $44.5–$45.5 billion, positioning the midpoint slightly above the analyst consensus of $45.45 billion.

Cash Flow Guidance Sees Dramatic Upgrade Perhaps the most significant development emerged in cash generation projections. GEV boosted its full-year free cash flow guidance to $11.5–$12.5 billion, representing a substantial increase from the earlier projection of $6.5–$7.5 billion.

During the second quarter, free cash flow totaled $5.1 billion — surpassing the company’s entire 2025 annual generation. Management attributed this performance to enhanced working capital management and robust EBITDA growth.

The order book provided additional positive momentum. Total orders climbed 88% organically to $24.2 billion for the quarter, versus $12.4 billion in the corresponding period last year. Within the Power division, the company secured 20 GW worth of new gas equipment agreements, expanding its backlog to 116 GW.

Chief Executive Scott Strazik indicated the company anticipates having no fewer than 125 GW of gas equipment under contract by the close of 2026, while maintaining its trajectory to achieve annual gas turbine production capacity of 20 GW in Q3 2026, with further expansion to 24 GW planned for 2028.

Wind Division Continues to Underperform The results weren’t uniformly positive across all segments. The Wind division remained challenged, posting a 10% revenue decline alongside an EBITDA deficit of $275 million. Elevated Offshore Wind project expenses and reduced Onshore Wind equipment shipments were identified as primary headwinds.

By contrast, the Electrification division delivered strong results. Core profit surged to $671 million from $314 million in the year-ago quarter. Year-to-date data center orders surpassed $5 billion, more than doubling the complete 2025 fiscal year total.

The Power division generated core profit of $1.03 billion, representing approximately 31% year-over-year growth.

GEV acknowledged that international tariffs are projected to introduce $100–$200 million in additional costs during 2026, even accounting for contractual protections and mitigation initiatives.

The company reaffirmed its adjusted EBITDA margin guidance range of 12%–14% for the complete fiscal year.

The overall backlog currently totals $176 billion.

Key Takeaways Royal Gold sold 69,000 GEOs in Q2, up 8% year over year but below Q1's 96,300 GEOs.RGLD's stream sales jumped to $311 million, while royalty sales are estimated at $137-$142 million.Royal Gold repaid $200 million of debt and settled an outstanding gold delivery with Americas Gold and Silver. Royal Gold, Inc. (RGLD - Free Report) issued a preliminary sales update for second-quarter 2026. In the quarter, Royal Gold sold 69,000 gold equivalent ounces (GEOs), comprising 54,500 ounces of gold, 595,500 ounces of silver, 2.5 million pounds of copper and 1.3 million pounds of lead.

This marks a decrease from 96,300 GEOs sold in the first quarter of 2026 but an increase from 63,900 GEOs sold in the second quarter of 2025.

In the second quarter of 2026, the cost of sales totaled $871 per GEO compared with $596 in the prior year quarter.

The company reported stream segment sales of $311 million compared with $123 million in the second quarter of 2025. Royalty segment sales for the second quarter of 2026 are estimated between $137 million and 142 million. The company posted Royalty segment sales of $51.1 million in the prior year quarter.

During the second quarter, RGLD repaid $200 million of debt. As of June 30, 2026, it had an outstanding balance of $400 million on its revolving credit facility, with $1.0 billion undrawn and available.

Royal Gold’s Other Updates  Royal Gold and Americas Gold and Silver Corporation (USAS - Free Report) announced that they reached an agreement during the second quarter of 2026 to settle their outstanding gold delivery. USAS originally entered into a Precious Metals Delivery Agreement with Sandstorm Gold Ltd. in 2019 before Sandstorm Gold was acquired by Royal Gold in 2025. The new deal resolves America's Gold and Silver's outstanding commitment to deliver 8,861 ounces of gold to RGLD between June 2026 and December 2027.

Americas Gold and Silver will clear the outstanding obligation immediately in exchange for 5,000 ounces of gold and 2,652,532 common shares issued at a deemed price of $5.86 per share.  RGLD recognized the proceeds from the settlement of the gold delivery as stream sales in the second quarter of 2026, which added $12 million of additional DD&A expense.

RGLD Stock’s Price Performance & Zacks RankIn the past year, Royal Gold shares have gained 24.4% compared with the industry’s growth of 32.3%.

Image Source: Zacks Investment Research

Royal Gold currently has a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Q2 Preliminary Results of Other Mining StocksEndeavour Silver Corp. (EXK - Free Report) produced 1.94 million ounces of silver in the second quarter of 2026. This reflected a 31% increase from the year-ago quarter, driven by the addition of the Kolpa operation in May 2025. Endeavour Silver’s total gold production grew 35% year over year to 10,474 ounces. The company’s silver-equivalent ounces production increased 36% year over year. 

Fortuna Mining Corp. (FSM - Free Report) produced 72,217 GEO from ongoing operations in the second quarter of 2026, bringing the total first-half production to 145,089 GEOs. With first-half production already exceeding half of Fortuna Mining’s lower-end guidance, the company seems on track to achieve its 2026 production target of 281,000-305,000 GEO. The second-quarter 2026 reported figure marked a 1.4% increase from the year-ago quarter. The reported figure was broadly in line with 72,872 ounces produced in the first quarter of 2026.
 

Interactive Brokers (IBKR) experienced a slight decline in stock price following a robust Q2 earnings report. The company posted earnings per share (EPS) of $0.

Travel + Leisure NYSE: TNL raised its full-year 2026 outlook after reporting stronger second-quarter results and announcing two acquisitions that management said will expand its resort network and owner base.

President and Chief Executive Officer Michael Brown said the company’s second-quarter and first-half performance reflected “consistent execution” and the durability of its business model, citing healthy owner trends, robust travel demand, recurring upgrade sales and increasing new owner sales.

For the second quarter, Travel + Leisure reported revenue of $1.06 billion and adjusted EBITDA of $269 million. Brown said gross vacation ownership interest, or VOI, sales increased 6% and exceeded the company’s guidance range, supported by high-quality tours and strong owner engagement. Volume per guest rose 2% year over year to $3,318, also ahead of plan.

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Chief Financial Officer Erik Hoag said revenue increased 4%, adjusted EBITDA rose 8% and adjusted earnings per share grew 14% in the quarter. Adjusted EBITDA margin expanded 70 basis points, which he attributed to operating leverage across the business.

Vacation Ownership Drives Growth The company’s Vacation Ownership segment remained the primary driver of results. Hoag said gross VOI sales increased 6% to $693 million, while segment revenue rose 6% to $907 million. Segment adjusted EBITDA increased 13% to $247 million.

Hoag said tours increased 1% in the quarter, reflecting solid demand and new owner acquisition. New owner mix was slightly higher year over year, with healthy transaction volume and close rates.

Brown said the company’s consumer remains healthy and continues to prioritize travel. He pointed to first-half arrivals, adjusted for strategic resort closures, increasing year over year, as well as strong forward bookings. The booking window was 109 days and the average length of stay was four days, both at or above prior-year levels.

In response to a question from Patrick Scholes of Truist Securities about the state of the consumer, Hoag said booking patterns, forward bookings, length of stay and distance traveled remained consistent with what the company saw in the first quarter. “We’ve not seen anything in our metrics that would indicate there’s a weakening occurring,” Hoag said.

Guidance Raised After Strong First Half and Acquisitions Travel + Leisure raised its full-year outlook, citing stronger-than-expected core business performance and the expected contribution from the acquisitions of Yes& Vacations and Spinnaker Resorts.

Hoag said that, excluding acquisitions, the company now expects full-year adjusted EBITDA of $1.05 billion to $1.065 billion. Including the expected contribution from the acquisitions, Travel + Leisure now expects:

Gross VOI sales of $2.6 billion to $2.675 billion; Adjusted EBITDA of $1.065 billion to $1.085 billion; A consolidated loan loss provision rate of approximately 21%; A full-year adjusted tax rate of approximately 29%; Free cash flow conversion of roughly half of adjusted EBITDA; and Year-over-year adjusted EPS growth of approximately 20%. For the third quarter, the company expects gross VOI sales of $700 million to $740 million, adjusted EBITDA of $275 million to $285 million, and volume per guest of $3,300 to $3,350.

Yes& Vacations and Spinnaker Resorts Add Resorts and Owners Brown said the acquisitions of Yes& Vacations and Spinnaker Resorts add 23 resorts, including six properties in Hilton Head and seven in Maui. He described those markets as high-demand leisure destinations where new development is challenging.

The acquisitions also add more than 100,000 owners, expanding Travel + Leisure’s owner base by more than 10%. Brown said the acquired owners are similar in age and average income to the company’s existing owner base, and approximately 80% have fully paid off their timeshare loans.

Hoag said Travel + Leisure is investing approximately $340 million to acquire businesses expected to generate about $50 million of adjusted EBITDA on a full-year synergized basis. After securitizing roughly $80 million of finance receivables, he said net capital deployed falls to about $260 million, implying a net investment multiple of approximately 5 times adjusted EBITDA.

Hoag said the transactions add approximately 0.2 turn of leverage, and the company expects to end 2026 with leverage of 3.2 times. He said the deals were funded through cash and existing debt capacity and did not require a change to the company’s capital return commitment.

During the question-and-answer portion of the call, Brown said the acquisitions provide both resort portfolio expansion and a larger owner base for potential future upgrades, particularly as owners are introduced to Travel + Leisure’s broader network and points-based system.

Capital Returns Continue Management emphasized that shareholder returns remain a priority. Brown said the company returned $253 million to shareholders through dividends and share repurchases during the first half of the year and reduced common shares outstanding by 4%.

Hoag said the company repurchased approximately $88 million of common stock in the second quarter, up 25% from the prior year, while continuing to pay its quarterly dividend. He said Travel + Leisure expects a similar level of buybacks in 2026 compared with 2025, even after the announced acquisitions.

The company ended the quarter with more than $1.2 billion of available liquidity across cash and its revolving credit facility. Hoag also said Travel + Leisure completed its second asset-backed securities transaction of the year, raising $300 million at a 98% advance rate and a 5.52% coupon.

Loan Performance and Segment Trends Hoag said credit performance remained consistent with underwriting standards. Weighted average FICO scores at origination remained above 740, down payment levels improved year over year, and the loan provision rate was flat year over year. Delinquency rates improved sequentially from the first quarter.

Asked about loan loss trends, Hoag said early-stage delinquencies improved by roughly 80 basis points from the first quarter, more than the roughly 40 basis points of seasonal improvement the company would typically expect. He reiterated that Travel + Leisure expects its organic 2026 loan loss provision to be below 2025 levels, though the acquired portfolios are expected to add some pressure.

The Travel and Membership segment remained under pressure. Hoag said second-quarter revenue declined 5% to $157 million, while segment adjusted EBITDA fell 11% to $49 million, reflecting the continued evolution of the exchange business. He said the company is focused on stabilizing long-term earnings and free cash flow through operational improvements, strategic partnerships and digital initiatives.

Brown also highlighted progress in Travel + Leisure’s multi-brand strategy, saying Margaritaville is on track to exceed $150 million in annual VOI sales, Accor Vacation Club sales are on track to nearly double in 2026, and Eddie Bauer Adventure Club sales are exceeding expectations. Sports Illustrated Resorts is progressing, with the Nashville resort expected to open in the third quarter and sales already underway at a new sales center.

Brown closed the call by saying 2026 is “shaping up to be another great year” for the company, supported by first-half growth, the two acquisitions and continued capital discipline.

About Travel + Leisure (NYSE:TNL)Travel + Leisure Co NYSE: TNL is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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

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

While Travel + Leisure currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

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3 Energy Stocks to Buy as AI Power Demand Surges—and 2 to AvoidEQT NYSE: EQT executives said the company exceeded expectations across key operating and financial measures in the second quarter of 2026, citing stronger production, better price realizations, lower operating costs and reduced capital spending.

Chief Financial Officer Jeremy Knop said EQT generated $330 million of free cash flow attributable to the company during the quarter, despite natural gas prices averaging $2.89 per MMBtu. He said the result reflected EQT’s position “at the low end of the cost curve.”

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3 Natural Gas Names to Watch as a Global Supply Shock BuildsThe company raised its 2026 production guidance by roughly 90 billion cubic feet equivalent at the midpoint while lowering full-year capital expenditure guidance by $25 million. EQT also said it is pulling forward $85 million of capital contributions to equity method investments from 2027 into 2026 to accelerate construction timing for MVP Southgate.

Operational performance drives guidance increase President and Chief Executive Officer Toby Rice said EQT’s operating teams set multiple records during the quarter, including drilling what he described as “the longest lateral in the history of shale development” at more than 29,000 feet. Rice said the well was drilled 100% in-zone with no safety incidents. He also said EQT set a new basin 24-hour drilling record and a new company 48-hour drilling record.

3 Under-the-Radar GARP Stocks That Could Beat Big TechRice attributed the production outperformance partly to better-than-expected base production, including results from midstream compression projects that are extending flat production periods on new wells and reducing decline rates on older wells. He said those projects were part of the synergies projected when EQT acquired Equitrans and are continuing to exceed even the company’s upside forecasts.

During the question-and-answer session, Rice said compression projects are also benefiting new wells by allowing production into optimal gathering-system pressures. Knop added that EQT is recalibrating its models after the impact from lower pressures exceeded the company’s original expectations.

MVP Southgate construction accelerated Rice said EQT received Federal Energy Regulatory Commission authorization to begin construction activities on MVP Southgate and now has all key regulatory approvals in hand. The company elected to accelerate construction timing into 2026 to reduce execution risk.

Rice said the project will connect low-cost Appalachian natural gas supply with demand growth in the Carolinas, helping utilities meet energy needs and support reliability. He said MVP Southgate and the MVP Boost expansion were not included in EQT’s original Equitrans underwriting case.

In response to an analyst question, Rice said construction should be available by the end of the year, while the company is working on commercial arrangements tied to the accelerated project timeline. He said any benefit to 2027 plans would be upside.

New commercial agreements target power and LNG markets Knop said EQT recently signed a 10-year definitive agreement with Competitive Power Ventures to provide 325 million cubic feet per day of natural gas to a planned two-gigawatt power generation facility in Doddridge County, West Virginia. The facility is expected to enter service in early 2031.

Knop said the CPV contract is linked to PJM power pricing rather than a natural gas index, making it EQT’s second agreement using that structure. At the forward strip, he said EQT expects the agreement to provide a material premium to local index pricing. In response to an analyst question, Knop said that if the contract were online for a full year at full capacity, it would improve annual free cash flow by about $100 million and corporate differentials by $0.05, though actual utilization would be lower.

Knop said EQT can hedge the power-linked exposure but currently views the structure favorably because of the correlation between gas and power prices in PJM and the potential for spark spreads to widen as demand for generation grows.

EQT also updated investors on its LNG strategy. Knop said the company executed a five-year offtake agreement with a large Asian integrated energy company for approximately 500,000 tons per year of LNG beginning in 2028, sourced from Gulf Coast LNG facilities. At recent strip pricing, he said the agreement is expected to increase EQT’s 2028 free cash flow by about $45 million.

Blackline acquisition expands propane optionality Knop discussed EQT’s acquisition of Blackline Midstream for approximately $77 million. Blackline owns and operates two propane storage and distribution terminals in New England, including what Knop described as the largest propane storage facility in the region, with rail and waterborne access.

The assets provide 46 million gallons of storage capacity, and EQT currently supplies about 60% of Blackline’s propane volumes. Knop said the acquisition requires essentially no incremental capital investment and gives EQT additional flexibility for propane production, flow assurance, pricing optimization and commercial activity through domestic and international channels.

Knop said EQT projects a 20% free cash flow yield under its base case underwriting for Blackline, with upside that could roughly double that metric.

Management emphasizes balance sheet, buybacks and Appalachia demand Knop said EQT is close to reaching its long-term net debt target of $5 billion, which he described as a milestone in strengthening the balance sheet. He said the company plans to accumulate cash in the near term and deploy it into share repurchases during industry down cycles.

Asked how much cash EQT might hold, Knop said the company is “not opposed to accumulating at certain points in the cycle up to a few billion dollars of cash,” while adding that the company would look to be more aggressive with buybacks when it sees opportunities.

Management repeatedly highlighted Appalachian demand growth as a central theme. Rice said EQT’s analysis shows more than 45 Appalachian demand and pipeline takeaway projects under construction or in evaluation, representing nearly 20 billion cubic feet per day of potential demand. He said EQT would not grow “for growth’s sake” and would tie any upstream growth to demand supported by commercial agreements.

Knop said EQT internally estimates that high single-digit Bcf per day of growth, or roughly 40% of the identified potential, is realistic after risk-weighting the opportunity set. Executives said projects around the Clarington area in Ohio are a key focus for future pipeline takeaway opportunities.

Rice closed the call by calling the quarter “fantastic” and thanking shareholders and employees, saying the company is excited about its path forward.

About EQT (NYSE:EQT)EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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

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

While EQT currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

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Matt Smith, a Limited Partner at Chronometer Partners, recently appeared on the Invest Like the Best podcast with a provocative prediction: natural gas is about to become the biggest bottleneck to the AI buildout, and counterparty risk in gas is being severely underestimated. “Counterparty risk isn’t something we’ve really talked about during the last couple of years in the AI boom,” he stated.

Smith reached for a memory-market analogy that lands directly on hyperscalers like Microsoft (NASDAQ:MSFT | MSFT Price Prediction) and Amazon (NASDAQ:AMZN). “Imagine being short memory a year ago or 18 months ago and finding out all of a sudden you’re short memory. That is what this natural gas market looks like to us, not 2 years out, but 6+ months out,” he asserted. The nod is to how Micron Technology (NASDAQ:MU) chip tightness became a real cost line for cloud giants.

Smith argues that natural gas could become “20, 30, or 40% of their cost of doing business” for hyperscalers at the exact moment they’re hitting escape velocity on AI profitability. He’s skeptical of fuel-cell alternatives: “We are very cynical whether you can deploy fuel cells at scale because there isn’t the gas in the system to power those 24/7, 365.”

If the thesis plays out, producers, pipelines, and export terminals hold the leverage. Here are five names and two ETFs that could be interesting.

The Producer Squeeze EQT Corporation (NYSE:EQT) is the largest U.S. gas producer and just announced a 10-year supply deal for a 2-gigawatt power generation facility in West Virginia. EQT stock trades at a P/E ratio of 9x with an analyst target of $67.16, though EQT shares are down 7% year to date (YTD) and EQT Corporation just posted a Q2 2026 earnings miss.

Expand Energy (NASDAQ:EXE) is the largest low-cost U.S. gas producer post the Southwestern merger. Expand Energy’s Q1 2026 revenue rose 100% year over year (YoY), and Expand Energy signed a 20-year LNG (liqued/liquefied natural gas) deal with Delfin FLNG starting 2031. Expand Energy stock is down 19% YTD, reflecting gas price sensitivity.

Antero Resources (NYSE:AR) sells 2.3 Bcf/d (billion cubic feet per day) along the LNG fairway and is the largest U.S. producer-exporter of NGLs (natural gas liquids). Antero Resources’ Q1 2026 EPS beat by 51%. Antero Resources stock carries realized-price risk if the LNG spread compresses.

The Pipeline and Export Chokepoints Williams Companies (NYSE:WMB) moves roughly a third of U.S. gas and is executing over $7 billion of power-innovation capital, including the 682 MW Project Neo behind-the-meter build and the Aristotle pipeline for Ohio data centers. Williams Companies stock is up 24% YTD, and Williams shares trade at a P/E ratio of 33x, reflecting a lot of good news.

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Cheniere Energy (NYSE:LNG) is the largest U.S. LNG exporter and just raised FY2026 EBITDA guidance to $7.25 billion to $7.75 billion. Cheniere Energy stock is up 36% YTD, with over 40 mtpa (million tonnes per annum) of new capacity in permitting. Permitting delays and long-lead construction are the main risks.

Two ETFs With Warnings Attached The United States Natural Gas Fund (NYSEARCA:UNG) tracks gas futures directly. The fund suffers from contango and negative roll yield that erode returns even when spot prices rise, making it better for short-term views than long holds.

The ProShares Ultra Bloomberg Natural Gas ETF (NYSEARCA:BOIL) is a 2x leveraged fund with roll drag and daily-reset compounding decay, making it a short-term trading tool rather than buy-and-hold. Gas swings violently: the Henry Hub spot peaked at $30.72/MMBtu (one million British thermal units) on January 23 before normalizing near $2.83/MMBtu by July 13.

The Bottom Line Smith’s “6+ months out” timeline remains a prediction with inherent timing uncertainty. Producers carry commodity, weather, and execution risk, and the leveraged ETF can lose value quickly even if the broad thesis is right.

The EIA projects U.S. LNG export capacity climbing to 27.7 Bcf/d by 2030 while data centers could hit 12% of U.S. electrical demand by 2028. That supply-demand math is what Smith is leaning on.

Investors interested in the theme could watch how hyperscaler capex disclosures reference gas supply and whether producers layer on more long-dated power-gen contracts. Given the volatility involved in gas exposure, traders should consider keeping their position sizes modest.

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Contact [email protected] for any questions or corrections.

Key Takeaways Centene is set to report Q2 2026 results on July 28, with EPS estimated at 89 cents on $47.53B revenue.CNC's profitability may improve from pricing, cost controls and portfolio optimization amid membership falls.The health benefits ratio is projected to improve to 91.5% from 93%, supporting margins. Healthcare plan provider Centene Corporation (CNC - Free Report) is set to report second-quarter 2026 results on July 28, 2026, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at 89 cents per share on revenues of $47.53 billion. 

The second-quarter earnings estimate remained stable over the past 60 days. The bottom-line projection indicates a year-over-year improvement from a loss of 16 cents per share. However, the Zacks Consensus Estimate for quarterly revenues suggests a year-over-year decline of 2.5%.

Image Source: Zacks Investment Research

For 2026, the Zacks Consensus Estimate for Centene’s revenues is pegged at $190.97 billion, implying a fall of 2% year over year. Yet, the consensus mark for 2026 EPS is pegged at $3.46, signaling a growth of 66.4% year over year.

Centenebeat earnings estimates in three of the last four quarters and missed once, with the average surprise being 74.9%. This is depicted in the figure below.

Q2 Earnings Whispers for CenteneOur proven model does not conclusively predict an earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. That’s not the case here.

CNC has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

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

What’s Shaping Centene’s Q2 Results?The Zacks Consensus Estimate for the company’s total commercial memberships indicates a 39.1% year-over-year decrease, primarily due to a decline in the commercial marketplace. The consensus estimate for the company’s total Medicaid memberships indicates a 4.6% decline from a year ago.

As such, the Zacks Consensus Estimate for total membership indicates a 7.6% year-over-year decline, which reflects its portfolio optimization efforts. However, the consensus mark for Medicare PDP memberships signals 12.1% growth from the year-ago quarter.

The consensus estimate projects the company’s premium growth at only 1.8% year over year. The consensus mark for the company’s investment and other income indicates a 3.2% year-over-year decline from $371 million. Moreover, the projection for service revenues indicates a 0.6% fall from the year-ago quarter’s $727 million. These are likely to have affected the second quarter top line.

Nevertheless, due to its cost-curbing efforts, better pricing and portfolio optimization, the bottom line is likely to have improved. The Zacks Consensus Estimate for the total health benefits ratio is pegged at 91.5%, down from 93% in the year-ago period, meaning a higher portion of premiums remaining in hand after paying claims.

CNC’s Price Performance & ValuationCentene's stock has gained 64.3% in the year-to-date period compared with the industry’s growth of 31%. Its peers, such as Humana Inc. (HUM - Free Report) and Molina Healthcare, Inc. (MOH - Free Report) , have jumped 57.9% and 30.5%, respectively, during this time. Meanwhile, the S&P 500 has only increased 9.5%.

YTD Price Performance – CNC, HUM, MOH, Industry & S&P 500 Image Source: Zacks Investment Research

Now, let’s look at the value Centene offers investors at current levels.

CNC is trading at 16.91X forward 12-month earnings, above its five-year median of 11.31X. But it is still below the industry’s average of 18.12X. In comparison, Humana and Molina Healthcare are currently trading at 31.75X and 31.80X, respectively.

Image Source: Zacks Investment Research

How Should You Play CNC Stock Now?The company has made meaningful progress in restoring profitability through disciplined pricing, portfolio optimization and cost-control initiatives following last year's setback. A healthier medical benefit ratio, stronger cash generation and improving performance in its Medicaid and Medicare businesses provide reasons for optimism, while the stock's sharp year-to-date rally reflects growing investor confidence in the turnaround.

However, expectations have also become more demanding. Membership declines tied to portfolio optimization are likely to weigh on revenue growth, and Centene remains exposed to policy changes affecting government-sponsored healthcare programs. Elevated operating costs, despite signs of moderation, and below-average capital efficiency also suggest that the turnaround is still a work in progress.

Given these factors, existing shareholders may prefer to hold the stock and monitor management's commentary on medical costs, reimbursement trends and membership growth after the earnings release. New investors, meanwhile, may benefit from waiting for greater clarity on the company's execution and full-year outlook before initiating positions.

Why Otis Worldwide Stock Keeps Going UpOtis Worldwide NYSE: OTIS reported stronger second-quarter organic sales growth in 2026, driven by its service business, but lowered parts of its profit outlook as investments in service quality, retention initiatives and productivity pressures weighed on margins.

Chair, CEO and President Judy Marks said the company delivered “a solid quarter with a significant step-up in organic sales growth,” citing accelerating service revenue, improving new equipment trends and strong cash generation. Net sales were $3.9 billion, with organic sales up 6%.

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Why Investors Can Ride Otis Worldwide Stock for a Long TimeAdjusted operating profit declined by $32 million in the quarter, excluding a $7 million foreign exchange tailwind, as higher volume and price were offset by inflation, mix and productivity impacts. Adjusted operating margin fell 180 basis points to 15.2%, while adjusted earnings per share declined 4%, or $0.04, due to operational performance, partially offset by favorable foreign exchange rates.

Service Growth Leads Results, But Margins Decline Otis’ service segment remained the company’s main growth driver. Cristina Mendez, executive vice president and chief financial officer, said service organic sales rose 9% in the quarter, with growth across all lines of business and regions.

Maintenance and repair organic sales increased 6%, including 3% maintenance growth and 12% repair growth. Mendez said repair delivered its strongest performance in the past 10 quarters. Modernization organic sales increased 24%, which she described as the highest growth rate since Otis’ spin-off.

Modernization orders rose 9% in the quarter, helped by significant growth in China and low-single-digit growth in EMEA and Asia Pacific, partly offset by a mid-single-digit decline in the Americas due to a difficult comparison with the prior year. Modernization backlog increased 26% year-over-year at constant currency.

Despite the revenue growth, service operating margin declined 170 basis points from a year earlier to 23.2%. Service operating profit rose $16 million at constant currency to $599 million, as higher volume and pricing more than offset labor costs, strategic investments, productivity headwinds, material costs and unfavorable mix.

Marks said service margins were pressured by labor and material cost increases as Otis ramps operations to execute its repair and modernization backlog. She said the company expects margins to recover in coming quarters as service revenue growth continues.

New Equipment Shows Signs of Stabilization New equipment organic sales declined 1% in the quarter, which Mendez said was the lowest rate of decline in the past nine quarters. Growth in the Americas and Asia Pacific was more than offset by lower sales in China and EMEA.

Americas new equipment sales increased 10%, supported by backlog conversion and orders growth from prior periods. Asia Pacific sales grew in the low single digits, driven by strength in Japan and India and partly offset by lower sales in Korea. EMEA sales declined 4%, primarily due to weakness in the Middle East and Southern Europe. China new equipment sales declined in the high teens, consistent with the backlog decline, though Mendez said the region showed slight sequential improvement.

New equipment orders declined 5% year-over-year. Double-digit growth in the Americas and low-single-digit growth in EMEA were more than offset by declines in Asia Pacific, due to tough comparisons, and in China. New equipment backlog increased 4% year-over-year at constant currency, or 9% excluding China.

New equipment operating profit declined $30 million at constant currency to $40 million, and margin fell 220 basis points to 3.1%. Mendez said the decline reflected lower volume, unfavorable price and mix.

Service Quality Investments Affect Outlook Otis said it is investing in service quality as part of a broader effort to improve customer retention and strengthen its operating model. Marks said the company previously outlined a plan to invest $50 million in service excellence and pricing during 2026. Otis invested $15 million in the second quarter and $30 million in the first half, with another $20 million expected in the second half.

Marks said service quality metrics improved in territories targeted by the program, with the company’s service quality index up seven points in those operating territories. She said some territories also showed retention improvement, though overall retention excluding China was down in the quarter.

Marks said the timing of retention benefits has shifted, prompting Otis to temper its AI micro-pricing implementation in maintenance. She said the company continues to see strong results from micro-pricing in repair, where pricing actions flow through more quickly because repair backlog is typically executed within one or two months.

Mendez said Otis had expected $50 million of incremental price impact this year, including $35 million from repair and $15 million from maintenance. The repair portion remains in the outlook, while the maintenance micro-pricing upside is being balanced against retention concerns.

Otis also cited productivity and cost headwinds. Mendez said the company now anticipates an additional $50 million impact versus its prior outlook, with $30 million related to temporary ramp-up costs for resources and higher labor rates to accelerate execution, and $20 million tied to material inflation and service quality investments.

Full-Year Guidance Revised Otis maintained its 2026 sales outlook, continuing to expect net sales of $15.1 billion to $15.3 billion and organic sales growth in the low- to mid-single-digit range. Marks said the company still expects the global new equipment market to stabilize, with growth in all regions except China, and expects modernization to remain robust with double-digit growth across all regions.

However, Mendez said Otis now expects adjusted operating profit to range from down $30 million to flat on an actual currency basis, and down $45 million to down $15 million at constant currency. The revised outlook reflects retention and tempered maintenance micro-pricing impacts, as well as productivity and cost headwinds.

Adjusted free cash flow is now expected to be between $1.5 billion and $1.55 billion. Adjusted EPS is expected to be in a range of $4.01 to $4.05, reflecting the lower operating profit outlook and a $0.04 negative impact from foreign exchange.

For the third quarter, Mendez said service organic sales are expected to remain strong at mid-single-digit growth, driven mainly by repair and modernization. New equipment organic sales are expected to continue improving sequentially. She said total adjusted operating profit is expected to be roughly flat year-over-year in the third quarter, while adjusted EPS is expected to decline at a level similar to the first half due to tax rate timing.

Cash Flow and Capital Returns Remain Priorities Otis generated adjusted free cash flow of $290 million in the second quarter, up 19% from a year earlier. Marks said the company’s cash generation allows it to invest in growth and strategic investments, including the acquisition of a majority stake in WeMaintain, while returning capital to shareholders.

In the first half of 2026, Otis repurchased approximately $800 million of shares and raised its dividend by 5%, returning more than $1.1 billion to shareholders.

Marks said Otis remains confident in its strategy, pointing to revenue growth, improving service quality metrics and progress on operational initiatives. She said the company is working to standardize field and sales processes across its 1,400 operating territories through a service operating model aimed at improving frontline execution.

“While the timing of retention benefits has shifted and we have observed headwinds in productivity and cost, we are as confident as ever in our strategy and our service flywheel,” Marks said.

About Otis Worldwide (NYSE:OTIS)Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis's business derives from long-term service contracts and responsive maintenance work.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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

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

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Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.

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Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Generac Holdings is transitioning from residential generators to a power solutions provider, with Commercial & Industrial (C&I) now the primary growth driver. Management guides for mid-teens revenue growth and gradual margin expansion, targeting $6.4 billion in revenue by 2028, underpinned by strong data center demand. The C&I segment is expected to grow 20-25% annually through 2028 but operates at lower margins than residential. Modest margin improvement is anticipated as scale increases.

New York, New York--(Newsfile Corp. - July 22, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Hub Group, Inc. (NASDAQ: HUBG) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Hub Group securities between April 28, 2023 and May 11, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/HUBG.

Hub Group Case Details

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

Hub Group's financial statements prepared for the periods from Q1 2023 to Q4 2024, including its annual reports for 2023 and 2024, contained material misstatements caused by the premature and incorrect recognition of certain transactions concerning, among other things, the Company's operating revenue, operating income, revenue recognition, effectiveness of internal controls and procedures, and drivers of financial results and growth; Hub Group's financial statements prepared for the periods from Q1 2025 to Q3 2025 contained material misstatements caused by the understatement of purchased transportation costs and accounts payable concerning, among other things, the Company's operating expenses, purchased transportation and warehousing expenses, operating income, effectiveness of internal disclosure controls and procedures, and drivers of financial results and growth; and as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects lacked a reasonable basis and were materially false and misleading at all relevant times.What's Next for Hub Group Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/HUBG, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Hub Group you have until August 28, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Hub Group Investors

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

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

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

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

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RPM International's Blowout Quarter Sparks a 15% Rally RPM International NYSE: RPM reported record fiscal fourth-quarter results, with management saying each of its three segments increased sales and adjusted EBIT despite inflation, supply chain disruption and continued softness in do-it-yourself consumer markets.

Chairman and Chief Executive Officer Frank Sullivan said the company’s Construction Products Group and Performance Coatings Group continued to lead growth by focusing on maintenance and restoration, higher-growth end markets and “system selling,” an approach that combines multiple RPM products into broader engineered solutions. Sullivan said the quarter marked the 16th time in the past 18 quarters that RPM achieved record adjusted EBIT results.

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RPM International Thrives in Rate-Cut Driven Construction Rally“Our associates demonstrated their ability to adapt to increased global uncertainty, procure raw materials, continue implementing operational efficiency improvements, and serve customers with high-quality products and services,” Sullivan said.

Construction and coatings businesses lead growth Michael Laroche, vice president, controller and chief accounting officer, said consolidated sales rose 7.2% to a record, driven by engineered solutions for high-performance buildings and infrastructure projects, acquisitions and pricing actions intended to offset inflation. Adjusted EBIT and adjusted EPS also reached records, according to Laroche.

RPM International Pulls Back Critical Levels; Is It Time To Buy?Laroche said all international regions posted double-digit growth, led by emerging markets, while North American sales rose 5% on strength in turnkey and system solutions for high-performance buildings. Growth in Europe was driven by mergers and acquisitions, and foreign currency translation also helped sales in most countries outside the United States.

Within the Construction Products Group, Laroche said sales reached a record on broad-based strength, led by the concrete admixtures business. Demand was strongest in roofing and wall systems for high-performance buildings, including data centers and infrastructure projects. Volume growth and operational efficiencies helped lift adjusted EBIT to a record.

The Performance Coatings Group also posted record sales, with growth led by infrastructure project solutions, food coatings and ingredients, emerging markets, and fireproofing systems for high-performance buildings. Adjusted EBIT reached a record, though results were partly offset by a $3.2 million bad debt expense tied to a customer bankruptcy.

Consumer segment improves despite weak DIY demand RPM’s Consumer Group delivered record sales and higher adjusted EBIT, with results helped by acquisitions and pricing. Laroche said DIY end markets remained soft, while MAP operational improvements, including SG&A-focused optimization actions, more than offset lower fixed-cost absorption from reduced volumes and inflation. Adjusted EBIT excluded a $9.7 million non-cash impairment charge related to the Color Group.

During the question-and-answer portion of the call, Sullivan said Consumer unit volume in the quarter was down about 2% to 3%, while Construction Products and Performance Coatings saw low- to mid-single-digit unit volume growth. He said the Consumer segment benefited from The Pink Stuff and Ready Seal acquisitions, but DIY takeaway has been weak for roughly two years.

“It does feel like after two years of a pretty steady single-digit negative declines in consumer takeaway and volume impact, that we’re hitting bottom,” Sullivan said. He added that he did not yet see evidence of a “robust rebound.”

Raw material inflation remains a focus Management said raw material inflation and supply availability remain key considerations for fiscal 2027. Sullivan said RPM’s center-led procurement team helped the company secure supply and limit exposure to spot-price volatility. He said price-cost mix was slightly favorable in the fourth quarter, with businesses implementing price increases where needed.

For the first quarter of fiscal 2027, RPM expects raw material inflation of 5% to 6%, with pricing up by a similar dollar amount. For the second quarter, inflation could reach 6% to 8%, Sullivan said. The company expects price increases, including in Consumer, to recover gross margin percentage lost in the first quarter as the year progresses.

Sullivan said supply availability improved overall, but a fire at a supplier’s plant has caused tightness in propylene oxide-derived raw materials in North America. He also noted tight MDI supplies due to supplier issues. In response to an analyst question, Sullivan said the supplier fire would have some negative cost impact and could affect first-quarter sales growth in Tremco Roofing, but he described the issue as temporary.

Cash flow, buybacks and acquisitions Matt Schlarb, vice president of investor relations and sustainability, said RPM generated $899 million of operating cash flow in fiscal 2026, the second-highest amount in company history. The company returned $349 million to shareholders through dividends and share repurchases, up more than 7% from the prior year.

Schlarb said RPM’s board authorized a $700 million increase to its share repurchase program, in addition to $115 million remaining under a prior authorization. Sullivan said during the Q&A that the company’s stronger balance sheet and improved cash generation give it more capital to deploy, including for acquisitions and potentially more opportunistic repurchases.

Capital expenditures totaled about $224 million for the year, slightly below the prior year. Schlarb cited investments including a shared European distribution center and a new operating facility in India. RPM also spent $202 million on acquisitions, including Kalzip, a metal roofing and facades company acquired by the Construction Products Group in the fourth quarter. Schlarb said RPM expects Kalzip to be margin accretive once fully integrated over the next couple of years.

Fiscal 2027 outlook calls for growth amid volatility Chief Financial Officer Russell Gordon said RPM expects first-quarter sales to rise in the mid-single-digit range, with all segments expected to grow at a similar pace. Adjusted EBITDA is also expected to increase in the mid-single-digit range.

For full-year fiscal 2027, RPM forecast sales growth of 3% to 7% and adjusted EBITDA growth of 5% to 10%. Gordon said the company expects Consumer end markets to stabilize, though he noted RPM has the least visibility in that segment. He said price-cost is expected to be somewhat negative in the first half of the year before becoming more neutral in the second half as additional pricing takes effect and inflation moderates.

RPM also expects previously announced SG&A optimization actions to generate about $75 million in benefits during fiscal 2027, partly offset by higher healthcare and benefits expenses. Sullivan said RPM has trained 620 associates through its Green Belt efficiency program, which has developed a pipeline of more than $30 million of additional savings. The company plans to provide more detail on its MAP 3.0 strategic plan at an investor day on Nov. 9.

Asked whether the fiscal 2027 outlook represented a new growth algorithm for RPM, Sullivan said the company could generate mid-single-digit revenue growth and double-digit earnings growth “in a period of stability.” However, he said the current environment remains volatile due to geopolitical developments, oil prices, trade flows, transportation costs and tariffs.

About RPM International (NYSE:RPM)RPM International Inc is a global holding company whose subsidiaries specialize in the manufacture and marketing of high-performance coatings, sealants, building materials, and specialty chemicals. Through its two principal operating segments—Performance Coatings and Industrial Coatings—RPM serves a diverse range of end markets, including construction, consumer products, industrial maintenance, and specialty applications.

The company's Performance Coatings segment offers a broad portfolio of architectural coatings, waterproofing systems, and specialty building products used by contractors, builders, and homeowners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways Dycom's backlog reached $11.9 billion, up 46.5%, with a strong 2.2x book-to-bill ratio.Fiber projects and Power Solutions are expanding DY's role across the data center infrastructure ecosystem.Dycom raised fiscal 2027 revenue guidance to $7.38-$7.65 billion as AI infrastructure demand accelerates. Dycom Industries, Inc. (DY - Free Report) appears increasingly well-positioned to benefit from the convergence of Artificial Intelligence (AI), data center expansion and fiber infrastructure spending. The rapid growth of AI workloads is intensifying demand for data center capacity, while hyperscalers and other customers continue investing in the networks needed to connect these facilities with businesses and homes.

Dycom's latest results highlight the strength of this opportunity. Fiscal 2027 first-quarter contract revenues jumped 56.1% year over year to $1.96 billion, while organic growth was 24.7%. Total backlog reached a record $11.9 billion, up 46.5%, with a 2.2x book-to-bill ratio. Customers are also extending contract durations to secure Dycom's skilled workforce, providing greater visibility into future growth.

The Communications segment remains a key beneficiary of fiber-to-the-home, long-haul and middle-mile infrastructure projects. Meanwhile, Building Systems is expanding its role in the data center ecosystem. Power Solutions delivered strong first-quarter performance, and DY’s pending $275 million acquisition of National Technology Integrators is expected to add structured cabling, security and advanced audiovisual capabilities.

The strategy could create a more comprehensive offering spanning data center racks, electrical systems, fiber networks and connections to businesses and homes. Management's raised fiscal 2027 revenue outlook of $7.38-$7.65 billion further reflects confidence in the demand environment.

With AI and data center investment accelerating alongside fiber deployments, Dycom's expanding capabilities, record backlog and strategic M&A could position it to capture a larger share of America's digital infrastructure buildout.

Dycom, Quanta and Sterling: Is AI Fueling a Backlog Bonanza?Dycom is well-positioned to benefit from surging demand for AI-driven data centers, power infrastructure and fiber connectivity, alongside other market peers like Quanta Services, Inc. (PWR - Free Report) and Sterling Infrastructure, Inc. (STRL - Free Report) .

Quanta offers broader exposure to the power grid and energy infrastructure needed to support data center growth, while its diversified platform benefits from rising electricity demand. Sterling, meanwhile, is positioned to capitalize on data center site development and digital infrastructure construction, with backlog growth providing visibility into future projects.

Dycom stands out for its record $11.9 billion backlog and 2.2x book-to-bill ratio, supported by robust fiber-to-the-home, long-haul and middle-mile demand. Its expansion into data center electrical work through Power Solutions and the pending National Technology Integrators acquisition strengthens its end-to-end digital infrastructure capabilities. While all three companies have strong secular tailwinds, DY’s combination of fiber exposure, expanding data center capabilities and record backlog gives it a compelling growth profile as AI infrastructure investment accelerates.

DY Stock’s Price Performance & Valuation TrendShares of this specialty contracting firm have gained 15% in the past six months, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 index.

Image Source: Zacks Investment Research

DY stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 23.45, as shown in the chart below.

Image Source: Zacks Investment Research

Earnings Estimate Trend Favors DycomDycom’s earnings estimates for fiscal 2027 and fiscal 2028 have trended upward over the past 60 days to $16.35 per share and $19.95 per share, respectively. The estimated figures for fiscal 2027 and fiscal 2028 imply year-over-year growth of 36.6% and 22%, respectively.

Image Source: Zacks Investment Research

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

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1:00pm: And then there's Alphabet Alphabet Inc (NASDAQ:GOOG) (Alphabet Inc (NASDAQ:GOOG)) reports second-quarter results after Wednesday's close, with Wall Street bracing for a print that could either validate the company's AI spending spree or intensify investor unease about it.

Bank of America is firmly in the bullish camp, reiterating its Buy rating and raising earnings estimates ahead of the print. The bank projects revenue of $102.1 billion and EPS of $8.38, both well above Street consensus of $101 billion and $2.90.

Much of that EPS gap traces to an estimated $80 billion boost to operating income from the revaluation of Alphabet's stake in Anthropic, whose valuation climbed from $380 billion in the first quarter to $965 billion in the second.

Capital spending remains the swing factor. Alphabet already guided full-year 2026 capex to $180 billion to $190 billion, and Bank of America thinks that range could climb another 5%, to $190 billion to $200 billion, given accelerating AI demand and rising memory costs.

12:05pm: Tesla's question mark Tesla Inc (NASDAQ:TSLA) (Tesla Inc (NASDAQ:TSLA)) reports second-quarter results after the bell Wednesday, and the numbers investors already have in hand tell a split story: a blowout on deliveries, a question mark on spending.

The bigger debate on the call is likely to center on what Tesla is doing with its money, and its robots. The company set aside a $25 billion capital budget for 2026 to fund AI infrastructure and Optimus development, a spending pace analysts expect to push free cash flow to roughly negative $3.25 billion for the quarter.

Shares were flat Wednesday heading into the release.

11:00am: Supermicro surges Super Micro Computer Inc (NASDAQ:SMCI) (Super Micro Computer Inc (NASDAQ:SMCI)) shares opened about 20% higher on Tuesday after the company released preliminary fourth quarter fiscal 2026 results showing significantly stronger-than-expected gross margins and a record order backlog, despite revenue tracking near the low end of its guidance.

The AI server maker said revenue for the quarter ended June 30 is expected to be near the lower end of its previously issued guidance range of $11.0 billion to $12.5 billion. Wall Street analysts had been expecting revenue of about $11.73 billion.

The company also reported receiving more than $60 billion in new orders during the quarter, lifting its backlog to a record level at the end of fiscal 2026. Supermicro said the orders are expected to be delivered over future quarters.

10am: Dow opens higher, Nasdaq hit by semis selling There has been another uneven open on Wall Street, with investors selling out of technology stocks ahead of key earnings from Alphabet and Tesla after the close.

The Dow Jones has opened up 225 points, or 0.4%, while the Nasdaq fell 0.2%, with the S&P 500 oscillating around the flatline. 

Industrial and defensive names led the Dow gains, with Honeywell, Verizon, 3M and Chevron the top risers.

Meanwhile, the Nasdaq's fall resulted from declines in semiconductor and AI-linked stocks, with AppLovin, SanDisk, Workday, Palantir and Lam Research leading falls as investors take profits after the rally yesterday.

An exception is Super Micro Computer, which jumped over 20% after the company released preliminary results showing significantly stronger-than-expected gross margins and a record order backlog, despite revenue tracking near the low end of its guidance.

8.10am: Tech stocks to see Wall Street open lower  Wall Street stocks looked set for a weaker open on Wednesday as investors lock in profits in technology stocks ahead of crucial earnings from Google owner Alphabet and Tesla, while escalating tensions in the Middle East push oil prices to six-week highs.

Dow Jones futures were down 0.2%, while the S&P 500 was called 0.4% lower and the hardest hit is expected to be the Nasdaq, where futures have dropped 1%, with chipmakers leading the pre-market declines after a sharp rebound in the previous session.

The cautious mood follows a strong rally the day before, when the Dow Jones rose 380 points, or 0.7%, to 52,443, the S&P 500 gained 0.9% to 7,546, and the Nasdaq climbed 1.3% to 29,316, helped by a powerful recovery in semiconductor stocks after weeks of heavy selling.

Earnings from Alphabet and Tesla are due after the bell, with analysts seeing these as key tests for the artificial intelligence trade.

Markets will be watching Alphabet for updates on AI-related capital spending and monetisation, while Tesla's results are expected to provide fresh detail on autonomous driving, robotics and vehicle demand.

Results from Texas Instruments, IBM and ServiceNow will also be closely watched in the evening, while Philip Morris, GE Vernova and AT&T report before the opening bell.

Chip stocks were under pressure in pre-market trading as investors took profits following a 5.5% jump in the sector the previous session.

Semiconductor stocks have been under heavy pressure in recent weeks as hedge funds aggressively unwound crowded AI trades, driving the sector around 25% below its early June peak.

Tuesday's rebound came as "the Momo guys [momentum traders] ran out of stock to sell, so the pressure was off," said market strategist Kenny Polcari at Slatestone Wealth, suggesting the wave of forced selling may have largely run its course.

Meanwhile, Brent crude traded above $94 a barrel after another night of US strikes on Iranian targets and renewed threats to shipping routes in the Middle East from Yemen. 

The stronger oil price has revived concerns that inflation could prove more persistent, complicating the Federal Reserve's policy outlook just as investors had begun to scale back expectations of further interest-rate increases.

"10 straight days of US strikes and continued attacks on military targets have kept a geopolitical premium firmly embedded in oil prices and that will become more of an issue next month and the months after," said Polcari. 

There is little in the way of economic data due on Wednesday, putting more of the onus on corporate earnings and developments in the Middle East.

Marley Kayden discusses Super Micro's (SMCI) preliminary fourth quarter results and the company's optimistic outlook on doubling gross margins. She explains Super Micro's commentary which cites strong customer demand and favorable product mix@ProsperTradingAcademy's Scott Bauer walks us through an example options trade for the AI server stock.

All eyes are on Super Micro Computer (NASDAQ:SMCI | SMCI Price Prediction) on Wednesday as the company disclosed preliminary fiscal Q4 2026 results with more than $60 billion in new orders received during the quarter and a record backlog. Furthermore, Super Micro guided gross margin to 15% to 17%.

That margin range is double the prior 8%-plus guidance, attributed to a favorable customer and product mix. Super Micro Computer guided revenue to near the low end of the $11 billion to $12.5 billion range, with LSEG consensus at near $11.67 billion. The company’s full results are slated to arrive on August 11, but the market is enthusiastically bidding up SMCI stock today.

Why It Matters and How the Street Is Responding The margin surprise is structurally important after governance scrutiny and dilution tied to Super Micro Computer’s June $7 billion financing raised to fund roughly $39 billion in AI-server orders. The $60 billion order figure anchors the AI-infrastructure buildout directly to Super Micro’s backlog.

Barclays raised its Super Micro Computer stock price target to $38 from $34, maintaining Equal Weight. Meanwhile, Rosenblatt lifted its SMCI target to $45 from $40 with a Buy rating, citing Super Micro’s “industry-leading” time-to-market advantage.

Super Micro Computer stock is up by a whopping 24% to $31.66 in Wednesday midday trading. Super Micro’s peers are also on the move: Dell Technologies (NYSE:DELL) stock is up 9% to $442.30, and Hewlett Packard Enterprise (NYSE:HPE) stock is up 5% to $48.84. The iShares U.S. Technology ETF (NYSEARCA:IYW) is flat at $244.02, so this doesn’t mark a full-on rally across tech stocks.

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This preliminary update precedes audited results, and Super Micro stock carries governance and dilution overhang. Investors can watch the August 11 print for confirmation of margin recovery and order-book conversion before sizing positions.

Record Backlog and Implications for SMCI Investors Super Micro Computer builds AI-optimized servers and full rack-scale systems, much of it designed around GPUs from NVIDIA (NASDAQ:NVDA), along with chips from Intel (NASDAQ:INTC) and Advanced Micro Devices (NASDAQ:AMD).

The company’s pitch has long centered on speed, getting the newest accelerators into deployable, often liquid-cooled systems faster than rivals can. That’s the “industry-leading” time-to-market edge Rosenblatt highlighted, and a record order book suggests hyperscalers and enterprises are still lining up for that capacity.

The backlog matters only if Super Micro Computer can convert it into recognized revenue at the newly guided 15% to 17% gross margin, rather than the thin 8%-plus range that had worried the Street. The guidance hints that the customer and product mix may finally be working in the company’s favor. Even so, patient investors may choose to wait for the August 11 results to confirm or deny that shift before assuming it’s durable.

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Contact [email protected] for any questions or corrections.

Super Micro's preliminary financial results provided Wall Street with even more confidence that there will continue to be incredibly strong demand for AI powered servers.

© WindAwake / Shutterstock.com

Super Micro Computer (NASDAQ:SMCI | SMCI Price Prediction) has become the AI infrastructure story Wall Street loves to hate. The stock sits at $24.29 as of July 20, 2026, down 17.39% year-to-date and 54.16% over the past year, even as the company guided fiscal 2026 revenue to $38.9 billion to $40.4 billion.

CEO Charles Liang says “Supermicro’s transformation into a total datacenter infrastructure provider is accelerating.” Can shares double to $50 by July 2027?

Why SMCI Shares Are Stuck Despite Triple-Digit Revenue Growth Shares are down 14.59% in the past week and 12.96% in the past month, with a beta of 1.94 amplifying every wobble in AI sentiment. The overhang is capital structure and legal noise, with demand still intact.

On July 19, one report flagged the stock trading 12% beneath June’s offer as funding concerns mount, tied to a raise of up to $7 billion to back nearly $39 billion in AI-server orders, with potential 28% share count dilution.

Add the ITC probe into Samsung memory chips Supermicro uses and the board’s independent review tied to export-control matters, and the stock trades as if growth is not real.

Wall Street Sees 54% Upside. My Model Says That’s Not Enough. The analyst consensus target sits at $37.38, based on 2 Strong Buy, 3 Buy, 11 Hold, 2 Sell, and 1 Strong Sell ratings. Our base case lands at $29.04, or 19.59% upside, with a 90% confidence score. The bull case runs to $40.91 and the bear case to $24.92.

With earnings growth contributing 3.26% YoY to the model and only 26% of analysts bullish, the setup is a classic underowned contrarian. Consensus is anchored to the last two years of scandal, not the next two of Blackwell Ultra shipments.

The Path to $50 Per Share Reaching $50 from $24.29 requires a gain of 105.8%. With forward EPS of $2.48, a price of $50 implies a forward P/E of 20x. Our base case of $29.04 already implies 11x, meaning the target needs roughly 10x of additional multiple expansion.

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Q3 FY2026 delivered revenue of $10.24 billion, up 122.68% YoY, with non-GAAP EPS of $0.84 comfortably beating expectations and GAAP gross margin recovering to 9.9% from 6.3%.

Catalysts are stacking: the NVIDIA Vera Rubin NVL4 DCBBS blueprint, the ten new Rear Door Heat Exchanger liquid cooling models, and Liang’s confirmation of “more than $13B in Blackwell Ultra orders”. If EPS scales into the order book, a 20x multiple looks normal. The risk: dilution from the $7B raise resets per-share math before earnings catch up.

Where SMCI Trades Today vs Its Earnings Power At $24.29 against forward EPS of $2.48, SMCI trades at roughly 10x forward earnings. That is a hardware-cycle multiple for a company growing revenue triple digits.

The stock sits 40% below its 52-week high of $62.36 and only modestly above the low of $19.48. Long-term holders still sit on a 1,171.29% ten-year return. The current setup rhymes with prior AI-cycle drawdowns that eventually re-rated hard.

Is $50 Realistic? My Verdict Getting to $50 by July 2027 requires a 105.8% gain and a re-rate to 20x forward earnings.

Three things need to go right: the export-control review closes without material findings, the $7B raise executes without excess dilution, and Blackwell Ultra revenue converts the order book into shipped, margin-accretive product. A drawn-out ITC ruling against Samsung suppliers derails it. We’ve outlined the blueprint for how Super Micro Computer could reach $50 in 2027.

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Contact [email protected] for any questions or corrections.