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BURLINGAME, Calif.--(BUSINESS WIRE)--Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, will hold a conference call to discuss its second quarter 2026 financial results on Tuesday, August 4, 2026, at 1:30 p.m. PT / 4:30 p.m. ET. The company’s earnings press release and investor presentation will be available on its investor relations website at ir.upstart.com after the market closes that day.

Live webcast. The live webcast and a replay will be available on Upstart’s investor relations website.

Conference Call Dial-In. To access the live conference call in the United States and Canada: 800-330-6710, conference code 7744842. To access the live conference call outside of the United States and Canada: +1 312-471-1353, conference code 7744842.

About Upstart

Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in Burlingame, California.

More News From Upstart Holdings, Inc.

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IRVINE, Calif.--(BUSINESS WIRE)--Rivian Automotive, Inc. (Nasdaq: RIVN) (“Rivian”) today announced that it has commenced an underwritten public offering of 75,000,000 shares of its common stock. In connection with the offering, Rivian expects to grant the underwriters a 30-day option to purchase up to an additional 11,250,000 shares of its common stock, at the public offering price, less underwriting discounts and commissions. All of the shares to be sold in the offering are to be sold by Rivian. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Rivian expects to use the net proceeds from the offering for general corporate purposes, including funding of certain equity contributions pursuant to that certain Amended and Restated Loan Arrangement and Reimbursement and Sponsor Support Agreement with the U.S. Department of Energy (the “DOE Loan”).

Goldman Sachs & Co., LLC, Allen & Company LLC, Barclays Capital Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the proposed offering.

The proposed offering is being made pursuant to a shelf registration statement on Form S-3 that became automatically effective upon filing with the Securities and Exchange Commission (the “SEC”) on April 30, 2026. The offering may be made only by means of a prospectus supplement and an accompanying prospectus. The prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available for free by visiting EDGAR on the SEC website at www.sec.gov. When available, copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, Telephone: (866) 471-2526 or via email: [email protected]; Allen & Company LLC, Attention: Prospectus Department, 711 Fifth Avenue, 9th floor, New York, New York 10022, by telephone at (212) 339-2220, or by email at [email protected]; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, [email protected], (888) 603-5847; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at [email protected] and [email protected]; Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department; or by email at [email protected]; and Wells Fargo Securities, LLC, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to [email protected].

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities, nor will there be any sale of these securities, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.

About Rivian

Rivian (NASDAQ: RIVN) is an American automotive technology company that develops and manufactures category-defining electric vehicles as well as vertically integrated technologies and services. Through innovation across its electrical architecture, end-to-end software, autonomous driving platform, artificial intelligence, and propulsion, the company creates vehicles that excel at work and play with the goal of accelerating the global transition to zero-emission transportation and energy. Rivian vehicles are manufactured in the United States and are sold directly to consumer and commercial customers. Whether taking families on new adventures or electrifying fleets at scale, Rivian vehicles all share a common goal — preserving the natural world for generations to come.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding statements regarding the offering and the expected use of proceeds therefrom, which statements are based on current expectations, forecasts, and assumptions and involve risks and uncertainties that could cause actual results to differ materially from expectations discussed in such statements, you can identify forward-looking statements by terms such as “will,” “expects,” or the negative of these terms or other similar expressions, although not all forward-looking statements use these words or expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, including, but not limited to, our ability to complete the offering on favorable terms, if at all, general market, political, economic and business conditions which might affect the offering and the important factors discussed in Part II, Item 1A, “Risk Factors” in Rivian’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and its other filings with the Securities and Exchange Commission. Rivian may not consummate the offering described in this press release and, if the offering is consummated, cannot provide any assurances regarding its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and Rivian does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

More News From Rivian Automotive, Inc.

HOUSTON, TX / ACCESS Newswire / July 6, 2026 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of June 2026, the Company had an average of 95 drilling rigs operating in the United States. For the three months ended June 30, 2026, the Company had an average of 92 drilling rigs operating in the United States.

Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs that were earning revenue under a drilling contract in the United States. The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company's operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company's financial performance. The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.

About Patterson-UTI

Patterson-UTI is a leading provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling services, integrated well completion services and directional drilling services in the United States, and specialized drill bit solutions in the United States, Middle East and many other regions around the world. For more information, visit www.patenergy.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are not limited to historical facts, but reflect Patterson-UTI's current beliefs, expectations or intentions regarding future events. Words such as "anticipate," "believe," "budgeted," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "potential," "project," "pursue," "should," "strategy," "target," or "will," and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding Patterson-UTI's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond Patterson-UTI's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: adverse oil and natural gas industry conditions; global economic conditions, including inflationary pressures and risks of economic downturns or recessions in the United States and elsewhere; volatility in customer spending and in oil and natural gas prices that could adversely affect demand for Patterson-UTI's services and their associated effect on rates; excess availability of land drilling rigs, pressure pumping and directional drilling equipment, including as a result of reactivation, improvement or construction; competition and demand for Patterson-UTI's services; the impact of the ongoing conflict in Ukraine; strength and financial resources of competitors; utilization, margins and planned capital expenditures; liabilities from operational risks for which Patterson-UTI does not have and receive full indemnification or insurance; operating hazards attendant to the oil and natural gas business; failure by customers to pay or satisfy their contractual obligations (particularly with respect to fixed-term contracts); the ability to realize backlog; specialization of methods, equipment and services and new technologies, including the ability to develop and obtain satisfactory returns from new technology; the ability to retain management and field personnel; loss of key customers; shortages, delays in delivery, and interruptions in supply, of equipment and materials; cybersecurity events; synergies, costs and financial and operating impacts of acquisitions; difficulty in building and deploying new equipment; governmental regulation; climate legislation, regulation and other related risks; environmental, social and governance practices, including the perception thereof; environmental risks and ability to satisfy future environmental costs; technology-related disputes; legal proceedings and actions by governmental or other regulatory agencies; the ability to effectively identify and enter new markets; public health crises, pandemics and epidemics; weather; operating costs; expansion and development trends of the oil and natural gas industry; ability to obtain insurance coverage on commercially reasonable terms; financial flexibility; interest rate volatility; adverse credit and equity market conditions; availability of capital and the ability to repay indebtedness when due; our return of capital to stockholders; stock price volatility; and compliance with covenants under Patterson-UTI's debt agreements.

Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in Patterson-UTI's SEC filings. Patterson-UTI's filings may be obtained by contacting Patterson-UTI or the SEC or through Patterson-UTI's website at http://www.patenergy.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov. Patterson-UTI undertakes no obligation to publicly update or revise any forward-looking statement.

Contact:

Michael Sabella
Vice President, Investor Relations
(281) 885-7589

SOURCE: Patterson-UTI Energy

CHICAGO, July 06, 2026 (GLOBE NEWSWIRE) -- Northern Trust Corporation (NASDAQ: NTRS) and Wintrust Financial Corporation (NASDAQ: WTFC) today announced that Wintrust Private Trust Company, N.A., has entered into an agreement to purchase the guardianship services business of Northern Trust. The transaction is expected to close later this year. Terms of the transaction were not disclosed.

Guardianship services are provided to individuals who are legally unable to manage their own affairs due to disability, age or incapacity. A corporate fiduciary is often appointed by the courts to serve as guardian, or to work alongside an individual guardian, to make decisions regarding financial oversight and investment management for the individual. The business has approximately $1.2 billion in assets under management. Northern Trust’s guardianship team is expected to move to Wintrust upon completion of the transaction.

“We believe Wintrust is well positioned to continue serving these clients with the focused attention this important business requires,” said Jason Tyler, President of Northern Trust Wealth Management.

“We are pleased to expand our guardianship business and cement Wintrust’s position as a leading provider of guardianship services in Chicago and the surrounding counties,” said Mary Ann Korenic, Chief Executive Officer, Wintrust Private Trust Company. “We look forward to welcoming Northern Trust’s experienced and talented guardianship team to Wintrust and to working together to deliver the excellent service these clients have come to expect.”

About Wintrust
Wintrust Financial Corporation is a financial holding company with $72 billion in assets whose common stock is traded on the NASDAQ Global Select Market. Guided by its “Different Approach, Better Results®” philosophy, Wintrust offers the sophisticated resources of a large bank while providing a community banking experience to each customer. Wintrust operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. In addition, Wintrust operates various non-bank business units, providing residential mortgage origination, wealth management, commercial and life insurance premium financing, short-term accounts receivable financing/outsourced administrative services to the temporary staffing services industry, and qualified intermediary services for tax-deferred exchanges. For more information, please visit wintrust.com.

About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2026, Northern Trust had assets under custody/administration of US$18.6 trillion, and assets under management of US$1.8 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

Contact:   Amy Yuhn, Wintrust
Phone:   847-939-9591
Mobile:   312-218-2364
Email:   [email protected]

Contact: Laura Hayes, Northern Trust
Phone: 312-721-3217 
Email: [email protected]

HOUSTON, July 06, 2026 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) announced today their quarterly distributions with respect to the second quarter of 2026 and also announced timing of second quarter 2026 earnings.

Second Quarter Distribution Declaration

PAA and PAGP announced the following quarterly cash distributions, each of which will be payable on August 14, 2026, to holders of the respective securities at the close of business on July 31, 2026:

PAA Common Units – $0.4175 per Common Unit ($1.67 per unit on an annualized basis), which is unchanged from the distribution paid in May 2026.PAGP Class A Shares – $0.4175 per Class A Share ($1.67 per Class A Share on an annualized basis), which is unchanged from the distribution paid in May 2026.PAA Series A Preferred Units – $0.61524 per Series A Preferred Unit (approximately $2.46 per unit on an annualized basis).
For its Series B Preferred Units, PAA announced a quarterly distribution of $20.50 per Series B Unit (based on the applicable quarterly floating rate), which will be payable on August 17, 2026, to holders of record at the close of business on August 3, 2026.

Although equity holders should consult their own tax advisor regarding their particular circumstances, following the close of the NGL asset sale, it is possible that PAGP will report positive current earnings and profits for the Tax Year 2026, making part of its Class A Share cash distribution taxable as a dividend. The transaction is not estimated to result in a material change in the previous forecast regarding when routine PAGP distributions will shift from being a return of capital to being taxed as dividends or when PAGP will become a taxpaying entity. Following payment of quarterly distributions, Plains will publish Form 8937, Report of Organizational Actions Affecting Basis of Securities to clarify the expected portion of the quarterly distribution that will be taxed as a dividend. In addition, to the extent any cash distribution exceeds a Class A Shareholder’s tax basis, it should be taxable as a capital gain. Qualified Notices under Treasury Regulation Section 1.1446 with respect to the PAA Common Unit distribution and PAA Series B Preferred Unit distribution will be posted on the Plains website under “Investor Relations – Unit Information.”  

Second Quarter 2026 Earnings Timing

PAA and PAGP also announced that they will release second quarter 2026 earnings before market open on Friday, August 7, 2026. Following the announcement, PAA and PAGP will host a conference call at 9:00 a.m. CT (10 a.m. ET) with analysts and investors to discuss earnings. The call will be webcast live on the internet and may be accessed through the "Investors Relations” section of the website at www.plains.com. An audio replay will be available on the website after the call.

About Plains

PAA is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services primarily for crude oil. PAA owns an extensive network of pipeline gathering and transportation systems, in addition to terminalling, storage, and other infrastructure assets serving key producing basins, transportation corridors and major market hubs and export outlets in the United States and Canada.

PAGP is a publicly traded entity that owns an indirect, non-economic controlling general partner interest in PAA and an indirect limited partner interest in PAA, one of the largest energy infrastructure and logistics companies in North America. 

PAA and PAGP are headquartered in Houston, Texas. More information is available at www.plains.com.

Investor Relations Contacts:
Blake Fernandez
Ross Hovde
[email protected]
(866) 809-1291

July 06, 2026 16:05 ET  | Source: Encore Capital Group, Inc.

SAN DIEGO, July 06, 2026 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the second quarter 2026 on Wednesday, August 5, 2026, after the market closes. The Company will also host a conference call and slide presentation the same day at 2:00 p.m. Pacific / 5:00 p.m. Eastern time with Ashish Masih, President and Chief Executive Officer, Tomas Hernanz, Executive Vice President and Chief Financial Officer, and Bruce Thomas, Vice President, Global Investor Relations, presenting and discussing the reported results.

Members of the public are invited to access the live webcast via the Internet by logging in on the Investor Relations page of Encore's website at www.encorecapital.com. To access the live conference call by telephone, please pre-register using this link. Registrants will receive confirmation with dial-in details.

For those who cannot listen to the live broadcast, a replay of the webcast will be available on the Company's website shortly after the call concludes.

About Encore Capital Group, Inc.

Encore Capital Group is an international specialty finance company that provides debt recovery solutions and other related services for consumers across a broad range of financial assets. Through its subsidiaries around the globe, Encore purchases portfolios of consumer receivables from major banks, credit unions, and utility providers.

Encore partners with individuals as they repay their debt obligations, helping them on the road to financial recovery and ultimately improving their economic well-being. Encore is the first and only company of its kind to operate with a Consumer Bill of Rights that provides industry-leading commitments to consumers. Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500. More information about the company can be found at www.encorecapital.com.

Contact:
Bruce Thomas
Encore Capital Group, Inc.
[email protected]

SOURCE: Encore Capital Group, Inc.

Shares of Coca-Cola (KO 1.40%) have been on a tear this year, rising by nearly 20% thus far. The stock hit a new all-time high on Monday as investors continue to load up on the beverage giant.

The stock's valuation is high, and the company reports its second-quarter earnings later this month, on July 28. Is the stock a good buy before it posts its latest numbers, or has it gotten too expensive?

Image source: Getty Images.

The company's growth has been impressive, but it comes with an asterisk Coca-Cola's recent results have been encouraging, with the company's growth rate accelerating and even getting back into double digits. The improved numbers may, however, have set an elevated bar for the beverage company leading into its upcoming earnings report.

While Coca-Cola's net revenue rose by 12% during the first three months of 2026, investors also shouldn't forget that they were down 2% a year earlier. Thus, the company was going up against some soft comparables, which can sometimes paint a bit of a misleading picture as to how well the business is truly doing. However, with the second quarter of 2025 also being an underwhelming period where sales were up by just 1%, it may not be all that surprising if Coca-Cola shows another strong quarter of growth when it posts its latest numbers this month.

The trouble is that Coca-Cola is not what you'd consider to be a top growth stock, yet it has been trading like one of late.

Today's Change

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Coca-Cola's high valuation highlights risks for investors Coca-Cola has a fantastic business, and it generates terrific margins, but that doesn't mean that it's worth paying a big premium for. But with it trading at 26 times its trailing earnings, that's arguably what investors who buy the stock today are doing. This is even higher than the 25 times earnings that the average stock in the S&P 500 trades at.

Another downside of buying the stock at its high is that its dividend yield has fallen to just 2.5%. At that level, there are many other dividend stocks to choose from that may offer comparable yields, have more long-term growth potential, and are more reasonably valued.

There's nothing wrong with Coca-Cola as a business, but the stock is arguably far too expensive to be a good buy at its current levels. And unless the company completely blows past earnings expectations in the current quarter, I wouldn't be surprised to see the stock fall after it posts its latest numbers.

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Alibaba will ban employees from using Anthropic's artificial intelligence tools for work purposes as of July 10, citing concerns that the U.S. company has back-door security risks, CNBC confirmed on Monday.

The Chinese e-commerce giant has put Anthropic's Claude Code on a high-risk software list, according to people familiar with the matter, who asked not to be named in order to discuss internal operations.

Alibaba's move follows Anthropic's decision in June to send a letter to the U.S. Senate Committee on Banking, Housing, and Urban Affairs, blaming the Chinese tech titan of "brazenly" and "illicitly" attempting to extract its AI capabilities. Anthropic accused Alibaba of carrying out "the largest known distillation attack" on it to date.

Anthropic's terms of service dictate that Chinese companies and other "adversarial nations" are banned from using its models.

Alibaba employees are required to uninstall all Anthropic models and agent products and instead use the Chinese company's own AI assistant, Qoder, the people said.

Alibaba and Anthropic both declined to comment.

Read more CNBC tech newsMeta's push into cloud computing means Wall Street has to prepare for lower marginsChip stocks that notched record rallies in second quarter start Q3 with a dudPlayStation will end physical disc production for new games in 2028Employers who laid off workers citing AI are already starting to regret itThe ban comes amid a wave of online blowback in China against Anthropic as posts on Reddit and GitHub outlined the use of hidden code meant to detect if users might be based in the country.

The Financial Times reported Friday that Anthropic is moving to close loopholes that have allowed Chinese companies to bypass restrictions and access Claude through third countries.

The UK newspaper cited sources as saying Chinese fintech group Ant "had provided employees with corporate Claude accounts that were accessed through the company's intranet, which is connected to its Singapore-based entity."

The FT reported that TikTok parent company Bytedance "does not facilitate access to Claude," but did start a reimbursement program that allows engineers to expense personal subscriptions. The engineers can access those subscriptions on virtual private networks.

Ant and ByteDance declined to comment on the Financial Times report.

ByteDance's reimbursement policy, unveiled on April 2, is meant to encourage staffers to "experience and learn" about a wider range of AI products to enhance their skills, a person familiar with the matter told CNBC. The person asked not to be named in order to discuss internal policies.

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The House of Representatives passed the Digital Asset Market Clarity (CLARITY) Act last July, which establishes a clearer federal framework for digital assets. However, the CLARITY Act remains in limbo in the Senate due to one major roadblock: how to handle stablecoins that pay interest-like rewards. Traditional banks want to ban stablecoin yields to protect their deposits. In contrast, crypto exchanges like Coinbase (COIN +2.05%) -- which earn revenue by taking a cut of the interest generated from the assets backing those stablecoins -- want them permitted.

In early May, Senators Thom Tillis and Angela Alsobrooks finally brokered a compromise: to ban passive stablecoin rewards (earned from just holding the token) but permit activity-based rewards (tied to actual transactions or platform utility). That compromise allowed the Senate to finally draft a new version of the bill that could clear a final vote.

Image source: Getty Images.

However, JPMorgan Chase (JPM +1.43%) CEO Jamie Dimon recently warned that any yield-bearing stablecoins providing bank-like returns without comparable capital, liquidity, and capital-protection requirements could create a "shadow banking" crisis. Dimon and major banking trade groups, including the American Bankers Association, are also ramping up their lobbying efforts to completely ban all yield-generating stablecoins.

How will that pressure impact crypto companies? If that pressure forces the Senate to revise the CLARITY Act to ban all stablecoin yields, two companies could suffer the most: Circle (CRCL +6.55%) and Coinbase (COIN +2.05%).

Circle issues USD Coin (USDC 0.02%), the most widely used stablecoin in the United States. It generates most of its revenue by collecting interest on the cash and U.S. Treasury bills that it holds to back its minted stablecoins. Coinbase, a founding partner of USDC, retains all of Circle's interest income on its platform and half of its residual reserve income.

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If the revised CLARITY Act bans all stablecoin yields, those tokens will become a lot less appealing than U.S. dollars. As that appeal wanes, Circle will mint fewer USDC tokens, accumulate less cash and Treasuries, and collect less interest. Less of that interest will flow to Coinbase, which will also collect lower fees as its stablecoin trading volumes decline.

The outcome is far from certain In a recent Fox Business interview, Dimon said about the CLARITY Act's stance on stablecoin yields: "We'll fight it. If we lose, we lose, and we'll live." Therefore, it's still unclear how this battle will end -- but we'll likely see some more clashes before Congress breaks for its August recess.

JPMorgan Chase is an advertising partner of Motley Fool Money. Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.

Micron Technology (MU +1.18%) stock has been on a tear over the past year. Shares of the memory specialist have jumped nearly 8x in a short time, driven by a rapid increase in demand for memory chips that has overwhelmed supply.

The memory supply shortage has been a massive tailwind for Micron Technology's bottom line. The company's earnings have been growing exponentially due to the incredible rise in memory prices. However, Micron's peers, Samsung and SK Hynix, have ambitious investment plans that could significantly reduce the supply demand gap in the memory industry.

That may not be a good thing for Micron stock. Here's why.

Image source: Micron Technology.

SK Hynix and Samsung are the kingpins of the memory industry As reported by Reuters, South Korea aims to double its memory chip production capacity over the next five years. Samsung and SK Hynix are going to play a key role in this expansion, as they have pledged an investment of just over $2 trillion.

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Given that Samsung and SK Hynix are among the world's largest memory chip suppliers, their massive investments could significantly reduce the demand-supply gap. Specifically, the two Korean giants control 67% of the global dynamic random-access memory (DRAM) capacity, according to Counterpoint Research. Their combined share of the NAND flash storage market stands at 47%.

Micron, for comparison, controls 22% of the DRAM market and 13% of the NAND flash market. So, Samsung and SK Hynix can influence the global memory in a big way. This doesn't bode well for Micron, as its pricing power could take a hit if Korean competitors add substantial new capacity. Even analysts are worried that this capacity expansion could create an oversupply, and that could negatively impact memory prices.

Does this mean it is time to book your profits in Micron stock? Not necessarily.

Micron's impressive growth is here to stay Adding new memory production capacity takes time. Building a memory fab can take anywhere between three to five years. So, even if SK Hynix and Samsung accelerate their infrastructure build-out, it will take a few years for them to start producing memory chips from their new facilities. Moreover, Samsung and SK Hynix are likely to monitor memory demand to ensure that they don't end up in an oversupply situation, which has hurt both companies in the past.

Additionally, SK Hynix's chairman believes that the additional capacity won't be enough to address the supply shortage. It is easy to see why that's the case. The high-bandwidth memory (HBM) used in AI chips consumes 3x as much wafer capacity as conventional memory chips. With HBM demand anticipated to increase at an annual rate of 42% through 2033, the ongoing shortage in the console, smartphone, and personal computing (PC) markets is likely to persist.

And as the new capacity comes online, it is likely to be absorbed by the markets where there is currently a major shortage. For instance, smartphone sales are anticipated to decline by 13.9% in 2026, according to IDC. The firm anticipates a 1.1% drop next year before growth resumes in 2028. Higher memory prices have been affecting smartphone sales, so any additional capacity could go toward satisfying pent-up demand in this market over the next couple of years.

So, the structural growth of the memory market due to the advent of AI should ideally prevent a downturn. That's why Micron investors shouldn't worry as the favorable conditions driving its growth are likely to persist.

This is probably why analysts are predicting that the company will clock outstanding earnings growth.

Data by YCharts

Moreover, Micron's price-to-earnings ratio of 23 makes it too cheap to ignore, considering its astronomical growth and sunny outlook. The tech-focused Nasdaq-100 index trades at 35 times earnings, which means Micron is a value stock. Assuming Micron trades at even 25 times earnings at the end of fiscal 2028 and its earnings per share reach $167.92, the company's stock price could jump to $4,198.

That's just over 4x its current stock price. So, investors can continue holding this AI stock in their portfolios, or even buy more, as it could keep skyrocketing.

July 06, 2026 16:01 ET  | Source: Vaxart, Inc.

No vaccine-related serious adverse events (SAEs) or sustained Grade 3 or higher adverse events related to the vaccine reported

SOUTH SAN FRANCISCO, Calif., July 06, 2026 (GLOBE NEWSWIRE) -- Vaxart, Inc. (OTCQX: VXRT) today announced topline data from the approximately 400-participant sentinel safety cohort of its Phase 2b clinical trial evaluating the Company’s oral pill COVID-19 vaccine candidate against an approved mRNA vaccine comparator. Participants in this safety cohort received Vaxart’s oral pill vaccine (201 participants dosed) or an approved mRNA vaccine (199 participants dosed) targeting the XBB strain of SARS-CoV-2, the virus that causes COVID-19. No vaccine-related serious adverse events (SAEs) or sustained Grade 3 or higher adverse events (AEs) were reported in either arm of the study. Data from the complete study, comprising the 400 dosed participants in the sentinel safety cohort and approximately 5,000 dosed participants in the main cohort, are currently anticipated in 2027. Participants in the main cohort received vaccines targeting the KP.2 viral strain prevalent at the time cohort dosing was initiated.

“These topline safety data are encouraging and are consistent with the safety profile observed to date in other studies of our oral pill vaccine constructs,” said James Cummings, MD, Chief Medical Officer at Vaxart. "We know that safety and tolerability are critical factors in successful vaccine development, and we are pleased with how our investigational vaccine performed in this cohort.”

What did the topline 12-month results from the sentinel safety cohort show?
Key topline 12-month results from the 400-participant sentinel safety cohort (201 oral vaccinees and 199 mRNA vaccinees) include:

No vaccine-related serious adverse events (SAEs) or sustained Grade 3 or higher AEs were reported in either the oral pill vaccine or mRNA arms of the trial.The most common AEs in participants receiving the oral pill vaccine were malaise/fatigue (20.9%), headache (18.9%) and anorexia (10.0%). Fewer than 10% of participants experienced any other AE.The most common AEs in participants receiving the mRNA vaccine were injection site pain (60.3%), injection site tenderness (40.2%), malaise/fatigue (35.2%), myalgia/muscle pain (33.2%), and headache (28.6%). Arthralgia, chills, anorexia, nausea, diarrhea, and induration/swelling at the injection site were experienced by between 10-15% of participants. Fewer than 10% of participants experienced any other AE.With respect to the efficacy measure of symptomatic COVID, 33 participants in Vaxart’s oral pill vaccine arm and 30 participants in the injectable mRNA vaccine arm had symptomatic disease. Asymptomatic COVID cases were reported in 12 participants in the Vaxart oral pill arm and 12 in the mRNA vaccine arm. It should be noted that this 400-participant sentinel safety cohort was not powered to determine comparative efficacy between the two arms.Topline data from the complete study, comprising the 400 participants in the sentinel safety cohort and approximately 5,000 participants in the main cohort, are anticipated in 2027. The main cohort is designed and powered to support the planned statistical comparison of safety and relative efficacy outcomes between the two arms. “These first cohort topline data are an important advancement for our COVID-19 program and for our oral pill vaccine platform overall,” said Steven Lo, Chief Executive Officer at Vaxart. “This study adds to the body of evidence supporting the safety profile of our vaccine constructs as we look to demonstrate the potential of our proprietary oral delivery technology. We believe more insights into our oral COVID program are important and will be further analyzing this cohort as we eagerly await the readout from the main cohort of this trial, which is expected to provide more robust information on safety and efficacy.”

Funding for this award was received under Project NextGen, an initiative by the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) in the U.S. Department of Health and Human Services (HHS), and the National Institute of Allergy and Infectious Diseases (NIAID) to accelerate and streamline the development of the next generation of innovative COVID-19 vaccines, therapeutics, and enablers. Vaxart’s project award through the Rapid Response Partnership Vehicle (RRPV) Consortium is valued at up to $344.8 million. This project has been funded in whole or in part with federal funds from the Department of Health and Human Services; Administration for Strategic Preparedness and Response (ASPR); Biomedical Advanced Research and Development Authority (BARDA), under Other Transaction Number: 75A50123D00005.

About Vaxart 
Vaxart is a clinical-stage biotechnology company developing a range of oral recombinant vaccines based on its proprietary delivery platform. Vaxart vaccines are designed to be administered using pills that can be stored and shipped without refrigeration and eliminate the risk of needle-stick injury. Vaxart believes that its proprietary pill vaccine delivery platform is suitable to deliver recombinant vaccines, positioning the company to develop oral versions of currently marketed vaccines and to design recombinant vaccines for new indications. Vaxart’s development programs currently include pill vaccines designed to protect against coronavirus, norovirus and influenza, as well as a therapeutic vaccine for human papillomavirus (HPV), Vaxart’s first immune-oncology indication. Vaxart has filed broad domestic and international patent applications covering its proprietary technology and creations for oral vaccination using adenovirus and TLR3 agonists.

Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding Vaxart's strategy, prospects, plans and objectives, results from preclinical and clinical trials and the timing of such results, and beliefs and expectations of management, including statements regarding Vaxart’s Phase 2b clinical trial of its oral pill COVID-19 vaccine candidate, the 400-participant sentinel safety cohort, the approximately 5,000-participant main cohort, further analyses of trial data, anticipated timing of complete study data, and funding under Project NextGen and the RRPV Consortium, are forward-looking statements. These forward-looking statements may be accompanied by such words as "should," "believe," "could," "potential," "will," "expected," “anticipate,” "plan," “intend,” “may,” “estimate,” “approximately,” “designed,” “powered,” “subject to,” and other words and terms of similar meaning. Examples of such statements include, but are not limited to, statements relating to Vaxart's ability to develop its product candidates and oral pill vaccine platform; Vaxart's expectations regarding clinical results and trial data, and the timing of receiving and reporting such clinical results and trial data, including further analyses of the sentinel safety cohort and complete study data anticipated in 2027; Vaxart’s expectations regarding the design, powering, conduct, completion and analysis of its Phase 2b COVID-19 trial and main cohort; and Vaxart’s expectations with respect to the safety, tolerability, efficacy, relative efficacy, immunogenicity and potential regulatory significance of its product candidates, as well as the availability, permitted uses and sufficiency of funding under the Project NextGen/BARDA/RRPV award. These forward-looking statements are based on Vaxart’s current expectations and assumptions as of the date of this press release. Vaxart may not actually achieve the plans, carry out the intentions, or meet the expectations or projections disclosed in the forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions, expectations, and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially from the forward-looking statements that Vaxart makes, including uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, retain participants, collect follow-up data, generate sufficient evaluable cases and events, and complete, unblind, analyze and report data from the Phase 2b trial, including the main cohort, in the expected timeframes, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data, including analyses that may differ from or not confirm the topline data from the sentinel safety cohort or may not support conclusions regarding safety, tolerability, immunogenicity, efficacy or relative efficacy; the risk that clinical trial data, including data from the sentinel safety cohort and main cohort, are subject to differing interpretations and assessments by Vaxart, investigators, independent safety reviewers, funding agencies, regulatory authorities and other third parties; whether regulatory authorities will be satisfied with the design of and results from the clinical studies, including the study’s comparator, endpoints, statistical assumptions, strain selection, safety database and efficacy analyses; decisions by regulatory authorities impacting labeling, manufacturing processes, and safety that could affect the availability or commercial potential of any product candidate, including the possibility that Vaxart's product candidates may not be approved, authorized or licensed by the FDA or non-U.S. regulatory authorities; and that results from the Phase 2b trial may not be sufficient to support regulatory submissions, regulatory interactions, approval, authorization, licensure or commercialization of Vaxart’s oral pill COVID-19 vaccine candidate; risks related to government funding for the Phase 2b trial, including whether amounts under the Project NextGen/BARDA/RRPV award will be available, released, reimbursed or sufficient in the amounts or at the times expected, and whether the award may be modified, reduced, delayed, suspended or terminated or subject to conditions, audits or other compliance requirements; that Vaxart or its partners may experience manufacturing, supply, storage, shipment, stability, quality control or quality assurance issues and delays due to events within, or outside of, Vaxart's or its partners' control; difficulties in production, particularly in scaling up initial production, including difficulties with production costs and yields, quality control, including stability of the product candidate and quality assurance testing, shortages of qualified personnel or key raw materials, and compliance with strictly enforced federal, state, and foreign regulations; Vaxart's ability to obtain sufficient capital to fund its operations on terms acceptable to Vaxart, if at all, including expenses not covered by government funding; the impact of changes in government public-health, procurement and funding priorities; changes in COVID-19 incidence, circulating variants, vaccination recommendations and market demand; and competition from approved and investigational COVID-19 vaccines and other vaccine technologies; and other risks described in the “Risk Factors” sections of Vaxart’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings filed with or furnished to the SEC. Vaxart does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact
Vaxart Media and Investor Relations: 
FINN Partners
[email protected]

Investment will enable Tacoma assembly alongside Tundra, Sequoia and rear axles

, /PRNewswire/ -- Toyota Motor North America (TMNA) announced it will invest $3.6 billion to expand its San Antonio manufacturing campus with a second vehicle assembly line to support the Tacoma truck. The expansion will create 2,000 new, high-quality jobs and add 2.5 million square feet to Toyota Texas, doubling its size by 2030.

TMNA will transition Tacoma production from Toyota Motor Manufacturing Baja California (TMMBC) to the expanded Toyota Texas plant over an approximate four-year period.

Toyota Announces $3.6B Expansion, 2,000 New Jobs at its San Antonio Plant - Investment will enable Tacoma assembly alongside Tundra, Sequoia and rear axles. "Toyota's continued investment in North America is a testament to our confidence in the region's workforce, innovation and long-term growth potential," said President and CEO Ted Ogawa, TMNA. "By expanding our San Antonio plant, we are deepening our commitment to American manufacturing, creating meaningful and sustainable jobs, while advancing our mission to deliver high-quality vehicles that meet the changing needs of customers today and into the future."

After a highly competitive process, this expansion highlights Toyota's commitment to Texas as a vital hub for automotive innovation and manufacturing excellence.

"Texas is where the world builds bigger, and Toyota shows it once more with a $3.6 billion expansion in San Antonio that doubles their factory footprint and creates 2,000 new jobs," said Texas Governor Abbott. "This Texas-sized investment reflects the strength of our workforce and the unmatched business advantages found only in our state. Supported by the Texas Enterprise Fund and JETI program, this expansion will deliver economic opportunities to generations of San Antonio families and further cement Texas as the premier destination for world-class advanced manufacturing."

This latest investment will add another assembly line to the campus at Toyota Texas, which already includes a vehicle assembly line and new rear axle plant that is nearing startup.

"We are so proud of Team Texas and what they have accomplished over the past two decades," said Frank Voss, group vice president of truck manufacturing, TMNA and president of Toyota Texas. "The 2,000 acres of South Texas ranchland our plant stands on today was purposefully selected for its ability to scale with vehicle demand, and today marks the first step toward realizing that potential. We're excited to add the beloved Tacoma to our existing award-winning lineup, and we thank the State of Texas, Bexar County and City of San Antonio for their longstanding support."

This expansion brings Toyota's total investment in San Antonio to $8.3 billion since breaking ground in 2003. The new facility will enable increased flexibility for the plant through advanced manufacturing technologies and will align with Toyota's broader North American operations. Toyota remains committed to its operations throughout the U.S., Canada, and Mexico, and encourages a quick resolution to USMCA to make the North American region globally competitive.

"Toyota has been a loyal and dedicated partner in this community for two decades," said Bexar County Judge Peter Sakai. "This is the plant's second milestone investment in two years. Toyota continues to honor its commitments here, and this exciting initiative shows the confidence one of the world's leading companies has in Bexar County today and in the future."

Toyota's local workforce will climb to approximately 6,000 team members, supported by 23 on-site suppliers and their employees.

"San Antonio proudly hosts Toyota, and we're excited to be selected for additional expansion," said San Antonio Mayor Gina Ortiz Jones. "This is a significant recognition of the talent our city offers, as well as the investments our community is willing to make to support Toyota's growth. We look forward to expanding the Toyota family in San Antonio."

For nearly 20 years, Toyota Texas has rolled out top-quality trucks and SUVs, assembling more than 197,000 vehicles last year alone. The San Antonio plant is the exclusive home of the Tundra and Sequoia, both assembled on the same production line, and will begin production at its new rear axle facility this fall.

ADDITIONAL QUOTES

U.S. Senator John Cornyn: "Today's approval of a new Toyota assembly line in San Antonio is great news for Bexar County and Texas as a whole," said Sen. Cornyn. "This $3.6-billion investment will create 2,000 new, well-paying jobs and bring expanded economic opportunities to South Central Texas, and I applaud Toyota for growing their already significant presence in the Lone Star State even further."

U.S. Senator Ted Cruz: "Texas leads the nation because we believe in free enterprise, low taxes, and fewer government barriers to job creators. Congratulations to Toyota on their $3.6 billion new investment in San Antonio. It is another powerful vote of confidence in our state's workers and pro-growth policies. This expansion will create thousands of high-paying jobs, strengthen American manufacturing, and reinforce Texas as the best place in the country to build, invest, and innovate. I look forward to seeing the opportunities Toyota continues to create for San Antonio and communities across our great state."

Lieutenant Governor, State of Texas, Dan Patrick: "Texas' proven formula of free markets, a stable regulatory environment, and fiscal responsibility is why the Lone Star State remains the best state to do business in America," said Lt. Gov. Dan Patrick. "Toyota's new $3.6 billion investment in Bexar County is yet another important data point supporting that fact. This transformational investment for a new Toyota manufacturing line will result in billions in economic activity for the local San Antonio economy and will provide over 2,000 high-paying jobs for families in San Antonio and the surrounding communities."

Texas Speaker of the House, Dustin Burrows: "The State of Texas is proud to strengthen its partnership with Toyota Motor Manufacturing Texas through the announcement of this new San Antonio facility," said Speaker Dustin Burrows. "This investment reflects the confidence that world-class employers like Toyota continue to have in Texas' pro-business climate and skilled workforce. We are grateful for the good-paying jobs and economic opportunities this facility will bring to the region, and we look forward to building on Texas' partnership with Toyota."

Texas State Representative, John Lujan: "As a lifelong resident of San Antonio, I have seen firsthand the impact Toyota has made over the past two decades. Toyota has become an essential part of our city's identity, and this new investment will continue Toyota's legacy of uplifting our Southside residents, breaking cycles of poverty, and providing lasting skills and good-paying jobs. It is truly an honor to work alongside Toyota's leadership, Governor Abbott, Bexar County, and the City of San Antonio to bring this success to our community. I congratulate Toyota on this milestone, which will continue to create opportunity and strengthen South San Antonio for generations to come."

Texas State Senator, Roland Gutierrez: "Toyota Motor Manufacturing Texas' decision to expand in San Antonio is tremendous news for our community and for the State of Texas. The creation of 2,000 new jobs and an economic impact of more than $3.6 billion reflects the strength of our workforce, our business-friendly environment, and the opportunities that continue to grow in our region. This investment adds to the vibrancy of our city and will enhance our area for generations to come. Toyota believes in San Antonio and is proud to invest in the people who make our community such a remarkable place to live and work. We look forward to strengthening our partnership and celebrating continued success together."

Southwest ISD Superintendent, Dr. Jeanette Ball: "Many of our Southwest ISD families have a real, personal connection to Toyota's investment in our community. We're proud to play a role in supporting their expansion and the opportunity it brings to our families." 

President and CEO, greater:SATX Regional Economic Partnership, Sarah Carabias Rush: "This marks a transformational expansion for Toyota in San Antonio. With a second vehicle assembly line, Toyota will continue to grow quality jobs with tremendous career progression opportunities for our San Antonio region," said Sarah Carabias Rush, president and CEO of greater:SATX Regional Economic Partnership. "This win reflects the competitive strength of our skilled workforce, our leadership in automotive manufacturing innovation and the seamless collaboration among the State of Texas, Bexar County, the City of San Antonio and our utility and infrastructure partners to secure this opportunity."

About Toyota

Toyota (NYSE:TM) has been a part of the cultural fabric in the U.S. for nearly 70 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our nearly 1,500 dealerships.   

Toyota directly employs approximately 48,000 people in the U.S. who have contributed to the design, engineering, and assembly of more than 36 million cars and trucks at our 11 manufacturing plants. In 2025, Toyota's plant in North Carolina began to assemble automotive batteries for electrified vehicles. 

To help inspire the next generation for careers in advanced manufacturing, Toyota launched its in-person tour booking platform and virtual tour experience at www.TourToyota.com allowing guests to schedule a live tour to see several of our U.S. manufacturing facilities in action or visit all plants virtually from anywhere around the globe. 

For more information about Toyota, visit www.ToyotaNewsroom.com. 

Media Contact:
Melinda Louden
210-748-6103
[email protected]

SOURCE Toyota Motor North America

Tether has launched Alloy, a synthetic dollar product backed by Tether Gold, in a move that pushes the stablecoin issuer further beyond simple dollar tokens.

For more details, visit the official Tether platform.

TL;DR Tether has introduced Alloy and its aUSDT synthetic dollar product.The product is backed by Tether Gold (XAUt) rather than traditional cash reserves.The launch shows stablecoin design expanding into new forms of collateral. Most stablecoin stories are about whether a token is backed by dollars, Treasuries, or bank deposits. Alloy is different. It is designed around over-collateralization with liquid gold exposure, creating a synthetic dollar instrument rather than another straightforward fiat-backed token.

Why Gold-Backed Dollars Are Interesting Tether already dominates the conventional stablecoin market with USDT. Alloy suggests the company wants to build a wider collateral platform, where users can hold exposure that behaves like a dollar product while being backed by tokenized gold.

That is a more complex promise than a standard stablecoin. It introduces collateral-price dynamics, liquidation mechanics, and a different risk profile. It also shows why stablecoin issuers are becoming more like financial infrastructure companies than single-product crypto firms.

The Risk Is In The Design The appeal is clear: users get a dollar-denominated asset tied to gold collateral, potentially blending the familiarity of stablecoin units with a different reserve base. The caution is just as clear. Synthetic products need users to understand how collateral, redemptions, and market stress interact.

For Tether, Alloy is a way to test how far its brand can stretch. USDT is the liquidity engine. XAUt is the commodity-backed asset. aUSDT tries to connect the two into something more programmable. Whether traders embrace it will depend less on the headline and more on how it behaves when markets are not calm.

This article is based on information from Tether.

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

Sui has crossed the $1 billion total value locked mark on DeFiLlama, giving the Move-based network a clearer claim to serious DeFi liquidity.

For more details, visit the official DeFiLlama platform.

TL;DR Sui’s DeFi TVL has moved above $1 billion, according to DeFiLlama data.Lending and native DeFi protocols are helping drive capital onto the chain.The milestone strengthens Sui’s pitch as a high-performance smart contract network. TVL is an imperfect metric, but it remains one of the easiest ways to see where capital is willing to take smart contract risk. For Sui, crossing $1 billion is a meaningful marker because it moves the chain further away from early-stage experimentation and closer to the conversation around durable DeFi ecosystems.

Liquidity Is The Real Test Fast blockchains are common. Sustainable liquidity is rarer. Users can rotate through incentive programs quickly, especially when yield campaigns are generous. The question for Sui is whether capital stays after the first wave of rewards and novelty fades.

The current growth points to rising activity in lending, trading, and native protocols. That matters because a chain needs more than one flagship app to feel alive. The healthier version of Sui’s growth story is not just that TVL crossed a number, but that more capital is being deployed across several functions.

What Comes After The Milestone The next test is depth. Sui needs liquidity that supports real usage, not just headline TVL. Stablecoin availability, reliable lending markets, strong bridges, and developer retention will decide whether this becomes a lasting DeFi base.

For now, the $1 billion level gives Sui a stronger seat at the table. Move-based chains have been fighting for attention against Ethereum L2s, Solana, and other high-throughput networks. Sui now has a clearer data point to show that capital is paying attention.

This report is based on DeFiLlama data for Sui.

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

Alex Van de Sande, a co-founder of the Ethereum Name Service (ENS), proposed Monday that the ENS DAO delegate 5 million ENS tokens from its dormant community treasury to individual participants.

Alex Van de Sande, a co-founder of the Ethereum Name Service (ENS), proposed Monday that the ENS DAO delegate 5 million ENS tokens from its dormant community treasury to individual participants, a step he said would end the DAO's reliance on what he called “just a 1-of-1 multisig.”

“Currently, one delegate has enough quorum to not only execute any proposal, but also to outvote the next 50 other delegates,” Van de Sande said in the proposal, in an apparent reference to ENS co-founder Nick Johnson.

Van de Sande filed the idea as a formal draft, "Reform DAO governance by delegating 5M ENS tokens," in the Meta-Governance section of the ENS DAO's discourse forum. In a post on X, he said participants would not own or be able to sell the delegated tokens, which belong to the DAO, and floated adding another 5 million tokens next year, an undelegation trigger after six months of inactivity, and a full sunset of the arrangement after two years.

Van de Sande said the proposal draws on unclaimed supply from ENS's original airdrop five years ago, which set aside half its tokens as a "community treasury" to be distributed over five years. That window has now lapsed with little of the allocation distributed, he said.

Part of a Wider FightThe proposal follows weeks of conflict over control of ENS DAO's treasury and governance. On June 19, ENS Labs COO Katherine Wu published a temp-check proposal to shift the DAO's operational wallet, ENS holdings and Karpatkey-managed Endowment to a five-seat ENS Foundation board, as The Defiant reported.

Three days later, Johnson said he would self-delegate his ENS to back the measure, a move delegates said gave him effective control of the outcome. Rotki founder Lefteris Karapetsas wrote on the forum that Johnson had "delegated ~50% of the voting supply to himself, essentially becoming the DAO," and Security Council member Brantly Millegan called the proposal "the equivalent of treasury capture by ENS Labs," The Defiant reported.

The dispute widened in late June when Johnson, using that same delegated voting power, blocked an onchain vote to renew the DAO's Security Council, a multisig empowered to cancel malicious proposals already in the timelock queue. Johnson controls an estimated 3.26 million ENS tokens, roughly half of all ENS currently delegated to any address. Christoph Jentzsch, who wrote code for the original 2016 "The DAO," responded by proposing on X that ENS DAO dissolve itself outright, calling the DAO "broken," The Defiant reported.

Both the Foundation temp check and the Security Council renewal remain unresolved. Van de Sande's plan would not change that dispute directly — it draws on a separate, dormant pool of DAO-held tokens — but it lands amid an active debate over whether ENS's governance concentrates too much power in one delegate.

A sign hangs in front of the world headquarters of Vertex Pharmaceuticals in Boston, Massachusetts, U.S., October 23, 2019. REUTERS/Brian Snyder/File Photo Purchase Licensing Rights, opens new tab

CompaniesJuly 6 (Reuters) - Vertex Pharmaceuticals (VRTX.O), opens new tab will buy Crinetics Pharmaceuticals (CRNX.O), opens new tab for a total equity ​value of about $10 billion, the companies ‌said on Monday.

Shares of Crinetics more than doubled in extended trading, while those of ​Vertex were marginally down.

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The acquisition ​gives Vertex access to Palsonify, which was ⁠approved by the U.S. Food and ​Drug Administration in September 2025 to treat adults with ​acromegaly, a rare hormonal disorder caused by excess growth hormone. The companies said the once-daily oral ​therapy has shown early commercial momentum ​since launch.

Crinetics’ experimental drug, atumelnant, is in late-stage ‌development ⁠for congenital adrenal hyperplasia, or CAH, a rare genetic disorder affecting the adrenal glands.

The companies said Palsonify and atumelnant could ​together generate ​more than $5 ⁠billion in peak annual sales. Vertex expects the deal to ​add immediately to revenue growth ​and ⁠become accretive to non-GAAP operating income in 2029.

Vertex will pay $85 per Crinetics share, the ⁠companies ​said, with the deal expected to ​close in the third quarter of 2026.

Reporting by Puyaan ​Singh in Bengaluru; Editing by Jonathan Ananda

Our Standards: The Thomson Reuters Trust Principles., opens new tab

July 06, 2026 16:15 ET  | Source: RxSight, Inc.

Non-exclusive license agreement for the development and commercialization of novel post-operative light adjustable PCIOL technologiesCollaboration aims to combine best-in-class PCIOL optics with first-in-class platform to enable fine-tuning of visual outcomes after cataract surgery ALISO VIEJO, Calif., July 06, 2026 (GLOBE NEWSWIRE) -- Alcon (SIX/NYSE: ALC), the global leader in eye care dedicated to helping people see brilliantly, and RxSight, Inc. (NASDAQ: RXST), an ophthalmic medical device company dedicated to providing high-quality customized vision to patients following cataract surgery, today announced a non-exclusive collaboration to jointly develop adjustable presbyopia-correcting intraocular lenses (PCIOLs).

Under the collaboration, the companies will be innovating on their respective platforms – RxSight's post-operative light-adjustable technology and Alcon's PCIOL optical designs – and combining them to create a co-developed technology that enables surgeons to fine-tune visual outcomes for their cataract patients who choose a PCIOL.

“Our leading PCIOLs have helped millions of patients reduce or eliminate the need for glasses after cataract surgery,” said David J. Endicott, Chief Executive Officer of Alcon. “Together with RxSight’s technology, we have the opportunity to develop tunable PCIOLs, giving surgeons even greater confidence to refine outcomes after surgery.”

“We are excited to work with Alcon to provide patients greater access to outcomes customized to their needs after surgery,” said Ron Kurtz, President and Chief Executive Officer of RxSight. “This collaboration underscores our belief in the importance of adjustability and will help accelerate its expansion across a wider base of patients.”

As part of the agreement, RxSight will receive a $60 million upfront payment to begin development. RxSight could receive up to an additional $140 million in payments as development and regulatory milestones are met. Under the agreement, Alcon will lead global commercialization, while RxSight will be responsible for development and manufacturing and receive royalties on net sales.

About Alcon
Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of more than 260 million people in over 140 countries and territories each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at www.alcon.com.

About RxSight, Inc.
RxSight, Inc. is an ophthalmic medical device company dedicated to providing high-quality customized vision to patients following cataract surgery. The RxSight® Light Adjustable Lens system, comprised of the RxSight Light Adjustable Lens® (LAL®/LAL+®, collectively the “LAL”), RxSight Light Delivery Device (LDD™) and accessories, is the first and only commercially available intraocular lens (IOL) technology that can be adjusted after surgery, enabling doctors to customize and deliver high-quality vision to patients after cataract surgery. Additional information about RxSight can be found at www.rxsight.com.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements in this press release that are not purely historical are forward-looking statements, including, without limitation, statements regarding: potential payments that may be received by us in connection with the collaboration, including potential milestone payments and royalties; and RxSight’s and Alcon’s respective rights and obligations under the collaboration agreement, a description of which (including material terms and conditions) may be found in the Current Report on Form 8-K filed of even date herewith with the Securities and Exchange Commission (SEC). The forward-looking statements contained herein are based upon our current expectations and involve assumptions that may never materialize or may prove to be incorrect. These forward-looking statements are neither promises nor guarantees and are subject to a variety of risks and uncertainties, including, without limitation, uncertainty as to whether the anticipated benefits and opportunities of the proposed collaboration may be realized or make take longer to realize or may cost more than expected; risks of unexpected hurdles, costs or delays; challenges in technology transfer and manufacturing; challenges inherent in new product candidate development, including obtaining regulatory approvals; challenges associated with collaborating with third parties, including intellectual property, operational, financial and other risks; uncertainty of commercial success for new products; the ability of RxSight and Alcon to successfully execute their respective strategic plans; and other risks that may be found in the section entitled Part II, Item 1A (Risk Factors) in the Quarterly Report on Form 10-Q for the period ended March 31, 2026, filed with the Securities and Exchange Commission (SEC) on May 6, 2026, and other documents that RxSight files from time to time with the SEC. These forward-looking statements are made as of the date of this press release, and RxSight assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Marvell Technology (NASDAQ:MRVL | MRVL Price Prediction) looks compelling because the market is only now pricing in a durable second act in custom AI silicon. The stock has nearly tripled year to date, but the fundamental picture keeps outrunning the multiple.

Marvell designs the analog, mixed-signal, and photonic infrastructure that hyperscalers use to move data around AI clusters. Data center is now 76% of revenue, up from a business that was a grab bag of storage, networking, and automotive parts. The automotive Ethernet unit sold to Infineon for $2.5 billion has been recycled into optical interconnect (Celestial AI) and chiplet packaging (XConn). The playbook mirrors Broadcom (NASDAQ:AVGO). Sell the picks and shovels, and let NVIDIA (NASDAQ:NVDA) fight the merchant GPU war.

The custom silicon flywheel The bull case rests on the XPU pipeline. Management flagged over 50 new custom AI design opportunities across more than 10 customers, and Reuters reported Marvell expects custom chip revenue to top $10 billion by fiscal 2029. Broadcom’s custom accelerator business is the comp, trading at a $1.71 trillion market cap. Marvell sits at roughly $214.58 billion. If Marvell captures even a slice of that ASIC pie, the runway is long.

Q1 FY2027 revenue hit $2.418 billion, up 27.6% year-over-year, with data center up 11% sequentially. Free cash flow more than doubled to $483.1 million. CEO Matt Murphy told investors “We are seeing exceptional AI-related bookings, and as a result, we are significantly raising Marvell’s revenue outlook for both fiscal 2027 and fiscal 2028.” Guidance calls for 35% YoY growth next quarter.

The bear case Custom silicon revenue is lumpy and concentrated among a handful of hyperscalers. Any one can vertically integrate or dual-source to Broadcom on the next node. Marvell’s CEO acknowledged customers “may be pursuing multiple paths” on XPU supply. GAAP net income collapsed 80.4% year-over-year last quarter on a $331.8 million contingent consideration charge, and stock-based comp climbed to $207.6 million. Insiders have logged 129 recent transactions, net selling.

Trailing P/E is 86x, forward P/E is 67x. Broadcom, growing faster on the bottom line, trades at a forward P/E of 20x. Any hiccup in the lead 3nm XPU program, expected to enter production in calendar 2026, triggers a violent rerating.

The wait-and-see case The wait-and-see stance has merit. The story is right, but MRVL is already up 251% over the past year and has pulled back 13% in the last month. Waiting for Q2 FY27 against the $2.70 billion revenue and $0.93 EPS guide is reasonable. If the custom XPU ramp confirms, patience costs upside. If it slips, patience saves you 30%.

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The numbers MRVL trades at $251 against a consensus analyst target of $249.33, implying the stock has slightly overshot Wall Street’s average view. The rating breakdown, 7 Strong Buy, 31 Buy, 5 Hold, 0 Sell, 1 Strong Sell, shows sentiment has already turned. Year to date the stock is up 188.99% against an S&P 500 posting a small single-digit gain, one of the widest spreads in the semiconductor group.

Why Marvell looks compelling at $256 At $251, Marvell looks compelling. The path to appreciation runs through the 3nm XPU ramp with the lead US hyperscaler and the second announced XPU program that Murphy said is already engaged on the follow-on generation architecture. Add the NVIDIA NVLink Fusion partnership and the Celestial AI photonics stack, and Marvell monetizes every layer of the AI rack except the GPU itself.

The risk-reward is asymmetric even at this valuation. If custom chip revenue reaches the $10 billion by fiscal 2029 target, today’s forward multiple compresses fast even without further expansion. A hyperscaler defecting to Broadcom is real, but it would take multiple quarters to show up in bookings, and management says the customer set is widening beyond the top four.

What invalidates the thesis? A cut to FY28 outlook, a lost socket, or gross margin stepping down as low-margin custom volume scales faster than higher-margin optical business. Watch Q2 FY27 gross margin against the 58.25% to 59.25% guide. If it holds and revenue clears $2.7 billion, this stock has room to Broadcom’s neighborhood.

Marvell has stopped being the smaller cousin and started running the custom silicon playbook that turned Broadcom into a trillion-dollar company.

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Key Takeaways FactSet is benefiting from recurring revenue growth, client wins and rising AI solution adoption.FDS expanded its AI capabilities through partnerships and renewed major client agreements in fiscal 2026.FDS faces margin pressure from higher AI and cloud spending, along with intense industry competition. Shares of FactSet Research Systems Inc. (FDS - Free Report) have had a decent run over the past three months. The stock has risen 9.9% compared with the industry's 8.4% growth. The Zacks S&P 500 Composite rose 13.2% during the said time frame.

FDS has a Growth Score of B, which condenses key financial metrics to reflect a fair sense of the quality and sustainability of its growth.

The company’s fourth-quarter fiscal 2026 earnings are expected to increase 7.2% year over year. Earnings for fiscal 2026 and 2027 are projected to rise 4.4% and 11.2%, respectively, year over year. Revenues are expected to increase 6.2% in fiscal 2026 and 5.8% in fiscal 2027.

Factors That Bode Well for FDSFactSet provides integrated financial information, analytical applications and industry-leading service for the global investment community. The company is benefiting from its recurring revenue model, with growth driven by increasing Annual Subscription Value (ASV). Its organic ASV increased 7.1% year over year to $2.48 billion in the third quarter of fiscal 2026, marking FactSet's fastest growth rate since the first quarter of fiscal 2024.

Recent client wins have also contributed to FDS’s top-line growth. During the last reported quarter, the company renewed a five-year enterprise contract with a leading global investment bank that broadened its use of FactSet's data offerings. It secured a partnership with LPL Financial to power cloud-native trading applications using FactSet's real-time data platform.

Technological advancements and the rapid adoption of artificial intelligence (AI) have also become key catalysts for FDS’ subscription growth. It has been expanding its customer base and enhancing operational efficiency. The company reported strong Data solutions segment growth in the third quarter of fiscal 2026, driven by increasing adoption of its Model Context Protocol platform. Management also highlighted that more than 90% of FactSet's top 50 clients currently use four or more AI solutions.

Strategic partnerships with multiple organizations are expanding FDS’ AI capabilities. FDS formed a strategic partnership with Google Cloud to bring its financial intelligence capabilities into Gemini Enterprise, expand agent interoperability and develop next-generation AI agents for financial workflows. The company is broadening its AI capabilities across investment banking, asset management and wealth management applications through partnerships with InSync Analytics, Jynbios AI and Tiffin AI.

FactSet consistently rewards its shareholders through dividends and share repurchases. In fiscal 2023, 2024 and 2025, the company repurchased shares worth $177 million, $235 million and $300.4 million, respectively, while paying out $139 million, $151 million and $160 million, respectively, in dividends.

Key Risks to WatchFDS’ continued investment in compensation, cloud infrastructure and AI tools has resulted in elevated operating expenses. In the third quarter of fiscal 2026, the company reported an operating margin of 26.7%, down from 33.2% in the year-ago quarter. The adjusted operating margin also declined to 34% from 36.8% a year ago.

Stiff competition from giants such as Bloomberg L.P., Thomson Reuters Inc. and S&P Global Market Intelligence also affects FDS’s financial performance. This competition can limit pricing power, increase operational expenses and potentially reduce market share. As a result, the company must balance competitive pricing strategies with the need to maintain healthy profit margins.

FDS has grown through acquisitions, but the combined performance has fallen short of targets due to underestimated intercompany revenues. Since the company continues to pursue acquisitions as a growth strategy, FDS could face integration challenges with newly acquired businesses in the future.

FactSet currently carries a Zacks Rank #3 (Hold). 

Stocks to ConsiderA couple of better-ranked stocks in the broader Zacks  Business Services sector are Veralto Corporation (VLTO - Free Report) and Verisk Analytics (VRSK - Free Report) .

Veralto carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 8.4%. VLTO delivered a trailing four-quarter earnings surprise of 4.9%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Verisk Analytics also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 11.7%. VRSK's earnings beat estimates in each of the past four quarters, with the surprise being 6.3%, on average.

Key Takeaways CBOE's revenues grew about 25% in two years on strength across options, equities, futures and data.Cboe Global's options franchise is driven by SPX and VIX demand for hedging, income and volatility needs.CBOE raised its organic net revenue growth outlook to low double-digit to mid-teens growth. Cboe Global Markets' (CBOE - Free Report) revenue growth is being driven by structural market trends, product innovation and an increasingly diversified business model. The company’s revenues have risen by approximately 25% over the past two years, reflecting strength across multiple business lines. Unlike traditional exchanges that rely primarily on cash equity trading, Cboe generates revenues from options, equities, futures, foreign exchange, digital assets and market data.

Its options franchise remains the largest growth engine. Strong institutional demand for SPX and VIX index options for portfolio hedging, income generation and volatility management continues to drive transaction and clearing revenues, while periods of elevated market volatility provide an additional boost to trading activity.

Cboe Global is also expanding its base of recurring, non-transaction revenues through market data, connectivity and access services. These high-margin businesses benefit from growing demand from quantitative firms, algorithmic traders and institutional investors for proprietary market data, making revenues less dependent on trading volumes.

International expansion further strengthens the outlook. Acquisitions across Europe, Canada, Australia and Japan have broadened CBOE’s customer base and created cross-selling opportunities, while investments in foreign exchange and digital asset infrastructure position the company to capture emerging institutional demand.

Although trading activity is inherently cyclical, Cboe Global's increasingly diversified revenue mix provides greater resilience. Growth in recurring revenues, its international operations and continued product innovation reduce reliance on any single business segment. Reflecting these favorable trends, management has raised its outlook and now expects organic net revenue growth in the low double-digit to mid-teens range, compared with its previous guidance of mid-single-digit growth.

What About CBOE’s Peers?Nasdaq Inc. (NDAQ - Free Report) has strengthened its revenue growth profile by expanding beyond exchange trading into financial technology, market data, indexes, and anti-financial crime solutions, building a stable base of recurring subscription revenues. This diversification enables Nasdaq to generate consistent top-line growth despite fluctuations in trading activity and benefit from global demand for its technology platforms.

Intercontinental Exchange (ICE - Free Report) has similarly diversified through energy and interest-rate derivatives, mortgage technology and data services. Intercontinental Exchange is steadily increasing recurring revenues from its technology businesses, enhancing revenue visibility. Thus, Intercontinental Exchange remains well-positioned for sustainable long-term revenue growth.

CBOE’s Price PerformanceShares of Cboe Global have lost 0.8% year to date, outperforming the industry, but underperforming sector and S&P 500.

Image Source: Zacks Investment Research

CBOE’s Expensive ValuationCBOE is currently trading at a forward price-to-earnings multiple of 18.05, lower than the industry average of 18.16.

Image Source: Zacks Investment Research

Estimate Movement for CBOEThe Zacks Consensus Estimate for CBOE’s second and third-quarter 2026 earnings per share (EPS) witnessed no movement in the last seven days. The consensus estimate for 2026 and 2027 earnings has moved 1 cent north each, respectively, in the last seven days.
 

Image Source: Zacks Investment Research

Key Takeaways Rigetti's Cepheus-1 is now available through its cloud, Amazon Braket, Azure Quantum and qBraid.RGTI is growing on-premise adoption through Novera QPU sales, research deals and government contracts.Rigetti has roughly $569M in cash and expects 2026 earnings to improve 71.9% from a year ago. Rigetti Computing’s (RGTI - Free Report) first-quarter 2026 results suggest that the company is quietly shifting the conversation from building better quantum hardware to making it easier for customers to use it. The company's new 108-qubit Cepheus-1 system is now generally available through Rigetti Quantum Cloud Services, Amazon Braket, Microsoft Azure Quantum and qBraid, significantly expanding customer access.

Management believes the 108-qubit Cepheus-1 system is one of the world's most powerful commercially available gate-based quantum computers and the largest modular quantum system on the market. At the same time, Rigetti continues to grow its on-premise business through Novera QPU sales and government contracts, creating multiple channels for adoption rather than relying solely on cloud usage.

From an investor's perspective, the expanding distribution ecosystem could prove as important as future technology milestones. By placing its systems across leading cloud platforms while securing on-premise deployments with research institutions and national laboratories, Rigetti is increasing customer engagement well before quantum computing reaches widespread commercial adoption.

Management expects commercial interest from industries such as financial services, logistics and materials science to accelerate as system fidelity improves and the company advances toward its quantum advantage target over the next three years. Backed by a debt-free balance sheet and roughly $569 million in cash, Rigetti appears well-positioned to continue investing aggressively in scaling its technology while broadening its customer footprint.

Peers UpdatesQuantum Computing Inc. (QUBT - Free Report) or QCi announced the completion of acquiring NHanced Semiconductors, Inc. for a combination of cash and QCi stock valued at $73.1 million, subject to customary adjustments, and up to an additional $72.0 million if certain performance targets are achieved.

The acquisition marks an important step in QCi’s transition from research-driven innovation and prototyping to scalable commercial production. By adding semiconductor and nanophotonics fabrication capabilities, advanced packaging expertise and specialized engineering talent, QCi is strengthening its operational capabilities and manufacturing readiness.

IonQ (IONQ - Free Report) recently unveiled Clavis XG Multiplex, a new addition to its Clavis XG Quantum Key Distribution portfolio, designed to make quantum security even more practical and deployable across metropolitan fiber networks. The Clavis XG product line stands out for its enterprise-grade network integration, offering benefits in form factor and maintenance to configuration and management. IonQ also recently opened a new laboratory suite in Boulder, CO, to support quantum computing R&D and semiconductor chip testing facilities.

Rigetti’s Price Performance, Valuation and EstimatesShares of RGTI have lost 19% in the year-to-date period compared with the industry’s decline of 9.9%.

Image Source: Zacks Investment Research

From a valuation standpoint, Rigetti trades at a price-to-book ratio of 10.22, above the industry average. RGTI carries a Value Score of F.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 71.9% improvement from the year-ago period.

Image Source: Zacks Investment Research

The company currently has a Zacks Rank #4 (Sell).

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

Key Takeaways EQNR extends its agreement with CHC Helikopter Service through 2030 for personnel transport and SAR services.Equinor signed a letter of intent with Transocean for three drilling rigs worth about $1 billion.The rigs support Equinor's plan to produce 1.3 MMboe/d by 2035 through new wells and subsea projects. Equinor ASA (EQNR - Free Report) has extended its agreement with CHC Helikopter Service through 2030, exercising two contract options worth NOK 1.7 billion. The extension secures helicopter transport and search-and-rescue (SAR) services for its offshore operations in Central Norway, ensuring uninterrupted support for personnel safety and emergency preparedness.

CHC will continue operating Sikorsky S-92 helicopters, with two passenger helicopters and one backup SAR helicopter operating from Kristiansund, one passenger helicopter with medical evacuation capability operarting from Bronnoysund, and one dedicated SAR helicopter stationed at the Heidrun platform. Effective from Feb. 1, 2028, to Jan. 31, 2030, the agreement maintains critical helicopter support for EQNR's offshore operations.

On July 1, 2026, Equinor signed a letter of intent with Transocean worth approximately $1 billion to secure three Cat D drilling rigs for a combined seven rig-years. The agreement covers the Transocean Enabler (three years), Transocean Encourage (two years) and Transocean Endurance (two years) at day rates below $400,000, demonstrating disciplined capital allocation and a long-term production strategy through 2035.

The rigs will help Equinor drill new subsea developments and enhanced recovery wells more efficiently, supporting management’s target of producing 1.3 million barrels of oil equivalent per day (MMboe/d) by 2035, with roughly 70% of production expected to come from new wells. EQNR also plans to deliver more than 125 wells annually, 75 subsea projects and 200 well-plugging operations through 2035.

The CHC agreement reduces operational risks by guaranteeing reliable logistics for Equinor's offshore operations in Central Norway. Securing proven, winterized Cat D rigs years in advance reduces well costs, accelerates drilling activity and supports production growth. These agreements strengthen Equinor's business, generate additional cash flows and reinforce its appeal to investors.

Equinor currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the energy sector are Aker BP ASA (AKRBY - Free Report) , Vista Energy, S.A.B. de C.V. (VIST - Free Report) and Cenovus Energy Inc. (CVE - Free Report) . AKRBY and VIST currently carry a Zacks Rank #2 (Buy) each, and CVE sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Aker BP operates major hubs on the Norwegian Continental Shelf, including Alvheim, Edvard Grieg/Ivar Aasen, Valhall, Skarv and Ula, while also holding an ownership stake in Johan Sverdrup. AKRBY has broadened its exploration footprint by acquiring a 19% interest in promising licenses such as Grosbeak, Swisher, Toppand and Rover.

Operating across 205,600 acres in Vaca Muerta, Argentina's leading shale basin, Vista is positioned for substantial long-term growth. Backed by these extensive assets, VIST targets a daily production capacity of 200,000 barrels of oil equivalent by 2030.

Cenovus drives integrated oil and gas operations across Canada and the United States through its upstream assets and downstream refineries. To increase production and enhance cash flow, CVE is advancing key growth initiatives, including the Christina Lake North and Sunrise expansions, the West White Rose offshore project and Foster Creek optimizations.

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A stock that traded at $45 a year ago now changes hands near $1,729. That is a 3,718% gain in twelve months for SanDisk (NASDAQ:SNDK | SNDK Price Prediction), and Axios rounded the headline to roughly 3,700%. Then in the last five sessions before July 2, the stock gave back 17%. Long-term holders have to decide whether that is a breather or the first tell of a cycle top.

The number behind the mania The SanDisk chart rewires how you think about a boring category. NAND flash was a commodity business the market wanted nothing to do with a year ago.

Now the company carries a market cap of about $256 billion, up from a share price of $41.55 at its Q4 FY25 filing in August. Between then and the Q3 FY26 filing on April 30, 2026, the price ran to $1,095. It kept going after that, printing a 52-week high of $2,354.39 before the recent slide.

The fundamentals came, and then some Give the bulls their due. Q3 FY26 delivered revenue of $5.95 billion, up 251% year over year, beating consensus by 25.68%. Non-GAAP EPS came in at $23.41 against a $14.66 estimate. Gross margin swung from 22.5% a year earlier to 78.4%. The datacenter segment alone posted $1.47 billion in revenue, up 645% year over year, as AI hyperscalers bid up NAND supply.

Management retired $650 million in debt and now runs a zero long-term-debt balance sheet. Free cash flow hit $2.99 billion in the quarter. CEO David Goeckeler called it “a fundamental inflection point for Sandisk where our technology leadership is enabling a deliberate shift in our mix toward the highest-value end markets, led by Datacenter.” Forward guidance for Q4 FY26 calls for revenue of $7.75 billion to $8.25 billion and non-GAAP EPS of $30.00 to $33.00, plus five signed New Business Model agreements anchoring the datacenter mix.

Why the cycle looks late Still, memory is memory. When gross margin runs from the low twenties to the high seventies in twelve months, you are late in a boom. The stock proves it. One-year return of ~3,700%, year-to-date 529%, and then a –17% week ending July 2 as buyers ran out.

In late June, r/wallstreetbets threads titled “$SNDK puts for tomorrow” gained traction while another user posted realized gains on 0DTE $2,175 puts. Meanwhile the top r/stocks post going into July asked “Bought SanDisk (SNDK) at $2,330. Did I mess up buying the top or is this just a healthy pullback?” That divergence, professional hedgers reaching for downside protection while retail chases, is the classic late-cycle setup.

Valuation adds weight to the bear case. Trailing P/E sits at 60x, forward P/E at 27x, price-to-sales at 20x, and price-to-book at 19x on a company whose consumer segment already declined 10% sequentially in Q3. Reliance on the Kioxia joint venture, tariff exposure, and NAND pricing volatility are all disclosed risks. Prediction-market fundamentals peg fair value at $1,604.57, implying -11.34% downside, even as sell-side consensus reaches for $1,930.50.

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Market reaction Shares closed at $1,745 on July 2 and traded at $1,807.05 intraday on July 6, 2026, a 3.56% bounce off the recent low.

Over the past month the stock is up just 5%, a stall after months of vertical gains. The 50-day moving average of $1,610.45 now sits well above the 200-day at $703.36, a spread that historically compresses either through time or through price coming down.

Bear case A one-year run that explosive in a cyclical commodity business demands a reckoning at some point. Memory boom-and-bust is a decades-old rhythm, and the same operating leverage that pushed gross margin to 78.4% works in reverse when NAND prices soften.

Consumer already turned sequentially. Insider transaction data is empty in the reporting window, so the exit signal shows up in options flow and price action rather than filings. A 17% five-day drawdown off a market cap of roughly $156 billion is a warning that the marginal buyer may have left the room.

Bottom line The next test arrives with Q4 FY26 results, where management guided to revenue of $7.75 billion to $8.25 billion and EPS of $30.00 to $33.00. Anything short of a clean beat, and the multiple has nowhere to hide.

For retirement-focused holders who watched SanDisk turn a flash-memory business into a $268.02 billion AI proxy, the case for trimming into strength is stronger than the case for adding at 60x earnings after a 37-bagger. Cycles end. This one looks tired.

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Key Takeaways Coca-Cola posted 3% global unit case volume growth, with every operating segment growing volumes.North America volume rose 4% as Trademark Coca-Cola, Fanta, BODYARMOR and other brands grew.International trends were mixed, with soft Mexico, Argentina, Eurasia, the Middle East and the Asia Pacific. The Coca-Cola Company (KO - Free Report) delivered 3% global unit case volume growth in the first quarter of 2026, with every operating segment posting positive volume growth despite an uneven consumer and macroeconomic backdrop. However, the regional performance revealed a notable contrast. North America emerged as one of the strongest contributors, while some international markets continued to face localized pressures, raising the question of whether the company’s domestic momentum can sufficiently offset global softness.

North America reported 4% volume growth, benefiting partly from an easier year-over-year comparison but also from broad-based demand across the beverage portfolio. Trademark Coca-Cola, Fanta, FRESCA, BODYARMOR, Powerade, Dasani, smartwater and Minute Maid all recorded volume growth. Innovation also supported demand through products such as Coca-Cola Cherry Float, Diet Coke Cherry, POWERADE Power Water and the expansion of mini cans into convenience stores. The company gained both volume and value share while growing revenues and profit in the region, underscoring healthy execution beyond favorable comparisons.

Outside North America, the picture was more mixed. Latin America benefited from strong performances in Brazil and Central America, which offset declines in Mexico and Argentina. EMEA delivered overall volume growth, although volumes in Eurasia and the Middle East weakened in March following the onset of regional conflict. The Asia Pacific also posted volume growth across all operating units despite difficult comparisons, but profitability was pressured by commodity inflation in tea and coffee, and inventory cost timing.

Management remains focused on maintaining balanced global growth through affordability initiatives, consumer-centric innovation and localized execution rather than relying on any single geography. North America has provided an important source of strength, but sustained global momentum will likely depend on improving conditions across international markets while preserving the company’s broad-based volume gains.

KO vs. PEP & MNST: How is North America Business Performing?Like Coca-Cola, North America remains one of the most closely watched markets for PepsiCo Inc. (PEP - Free Report) and Monster Beverage Corporation (MNST - Free Report) , with volume trends offering valuable insight into their competitive positioning.

PepsiCo’s North America business showed encouraging improvement in the first quarter of 2026, but it was not enough to fully offset softer trends across parts of its global portfolio. PepsiCo Foods North America returned to volume growth through affordability investments and innovation, while PepsiCo Beverages North America benefited from acquisitions despite a decline in organic beverage volume. Meanwhile, international markets continued to provide the company’s most consistent growth, extending a long streak of resilient organic revenue gains.

Monster Beverage's North America business delivered a strong start to 2026, with U.S. and Canada net sales rising 15.6% on healthy category demand, innovation and disciplined execution. However, unlike many global peers, Monster Beverage did not face broad international weakness. Instead, every geographic region posted double-digit sales growth, suggesting that North America's momentum complemented rather than offset the company's robust global expansion.

Zacks Rundown for Coca-ColaKO shares have gained 20.3% in the year-to-date period compared with the industry’s growth of 15.3%.

Image Source: Zacks Investment Research

From a valuation standpoint, Coca-Cola is trading at a forward price-to-earnings ratio of 24.92X, higher than the industry’s 19.72X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for KO’s 2026 and 2027 earnings implies year-over-year growth of 8.7% and 6.9%, respectively. Earnings estimates for both 2026 and 2027 have been unchanged in the past 30 days.

Image Source: Zacks Investment Research

Coca-Cola currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Four years ago, Amazon (AMZN +1.22%) started using its own Trainium AI chips in its cloud infrastructure platform, Amazon Web Services (AWS). Those first-party chips became even more powerful with the launches of the Trainium2 in 2024 and Trainium3 in 2025. That expansion indicated that Amazon wanted to reduce its dependence on Nvidia (NVDA +0.86%), which still provides the majority of its data center GPUs.

Several of Nvidia's other top customers -- including Microsoft (MSFT 1.13%), Alphabet's (GOOG +2.19%) (GOOGL +1.71%) Google, and Meta -- also produced their own AI chips for the same reason. Google and Microsoft even plan to sell their own chips to third-party customers that want to break free from Nvidia's sticky ecosystem.

Image source: Getty Images.

That's why it wasn't surprising when recent reports suggested that Amazon would hop aboard the bandwagon and start selling its Trainium chips to external customers. Could this seismic shift shake up Nvidia's booming data center business?

Nvidia faces long-term threats Amazon's Trainium3 chips can't compete against Nvidia's top-tier Blackwell GPUs on their own. But by densely stacking 144 Trainium3 chips into its UltraServers, Amazon can actually match the rack-scale performance of Nvidia's Blackwell systems at a much lower cost. Microsoft and Google are utilizing that same "system-level stacking" strategy to challenge Nvidia's chips.

Many privacy-oriented markets, such as Europe, want to expand their cloud infrastructure without storing their data on servers operated by American hyperscalers. To solve that, they'll likely purchase more third-party chips from Amazon, Microsoft, and Google to build their own cloud platforms. Other large companies that don't want to rely on those tech giants or become too dependent on Nvidia's chips will likely follow the same playbook.

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But Nvidia still has a wide moat Amazon's sales of third-party AI chips would certainly represent a long-term challenge for Nvidia, but it probably won't meaningfully impact its near-term sales.

Nvidia still locks in its customers with its proprietary software ecosystem, CUDA, and most AI models, libraries, and frameworks are natively optimized to run on its industry-standard GPUs. Many companies that have already invested in Nvidia's ecosystem won't eagerly sever those ties to buy new chips from Amazon, Microsoft, or Google.

For now, Nvidia's investors shouldn't worry too much because the demand for its data center GPUs is still easily outstripping its supply. However, they should still keep a close eye on how its biggest customers are gradually evolving into formidable competitors.

Leo Sun has positions in Amazon and Meta Platforms. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.