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ABN Amro Investment Solutions raised its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 21.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,702 shares of the healthcare product maker’s stock after buying an additional 19,480 shares during the quarter. ABN Amro Investment Solutions’ holdings in Abbott Laboratories were worth $10,136,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ABT. Cornerstone Financial Management LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. bought a new position in Abbott Laboratories during the fourth quarter worth $25,000. Purpose Unlimited Inc. acquired a new position in Abbott Laboratories during the 4th quarter valued at $25,000. Portfolio Resources Advisor Group Inc. bought a new stake in Abbott Laboratories in the 4th quarter valued at $26,000. Finally, Abound Financial LLC acquired a new stake in Abbott Laboratories in the 4th quarter worth $26,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance Shares of ABT stock opened at $114.16 on Friday. The stock’s fifty day simple moving average is $99.51 and its 200 day simple moving average is $99.93. Abbott Laboratories has a one year low of $81.97 and a one year high of $137.49. The firm has a market cap of $197.54 billion, a price-to-earnings ratio of 36.94, a P/E/G ratio of 2.21 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The company had revenue of $12.59 billion during the quarter, compared to analysts’ expectations of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. Abbott Laboratories’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. On average, analysts expect that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year. Abbott Laboratories Announces Dividend The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, July 15th were issued a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.2%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 81.55%.

Analyst Upgrades and Downgrades Several equities research analysts recently weighed in on the stock. Wolfe Research upgraded shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 target price for the company in a research note on Thursday, August 13th. The Goldman Sachs Group lowered their price objective on Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. JPMorgan Chase & Co. raised their target price on Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Piper Sandler reissued an “overweight” rating and issued a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Finally, BTIG Research increased their price objective on shares of Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.67.

Read Our Latest Stock Report on Abbott Laboratories

Key Abbott Laboratories News Here are the key news stories impacting Abbott Laboratories this week:

Positive Sentiment: Abbott’s Instinct continuous glucose sensor is now integrated into MiniMed’s Flex automated insulin-delivery system, which is commercially shipping in the United States. The partnership expands Abbott’s presence in the growing continuous glucose-monitoring and diabetes-care markets. MiniMed Ships MiniMed Flex With Abbott’s Smallest Instinct Sensor Positive Sentiment: Abbott entered a multiyear agreement with HealthTab to supply Afinion 2 analyzers for point-of-care HbA1c and lipid testing in UK pharmacies, supporting the Diagnostics segment and potential NHS-linked distribution. HealthTab Enters Multi-Year Collaboration Agreement with Abbott Positive Sentiment: Analyst commentary continues to identify electrophysiology, continuous glucose-monitoring adoption and Abbott’s cardiovascular pipeline as important long-term growth drivers for the Medical Devices business. Abbott’s Medical Devices Growth Catalyst Neutral Sentiment: Recent commentary remains broadly constructive on Abbott’s long-term outlook, although one analysis characterized the stock as reasonably valued after its recent advance while another recommended a more cautious stance. This suggests valuation could limit near-term upside despite favorable operating trends. Negative Sentiment: Abbott agreed to pay approximately $670 million to resolve the Gill case and claims involving about 2,000 individuals concerning specialty formulas for premature infants. Although the company maintains that the products are safe and denies reliable evidence linking them to necrotizing enterocolitis, the settlement creates a substantial financial cost and keeps litigation risk in focus. Abbott Agrees to $670 Million Settlement Negative Sentiment: The company also settled an appeal related to a separate $495 million infant-formula verdict, reinforcing investor concerns about potential legal expenses and liabilities in the Nutrition business. Abbott Settles Appeal Over $495 Million Infant Formula Verdict (Free Report)

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

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B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 220,702 shares of the semiconductor company’s stock, valued at approximately $65,785,000.

A number of other institutional investors have also recently bought and sold shares of TXN. High Point Wealth Management LLC acquired a new stake in Texas Instruments in the fourth quarter worth $25,000. Strategic Wealth Investment Group LLC acquired a new position in shares of Texas Instruments in the 2nd quarter valued at $25,000. Advocate Investing Services LLC bought a new stake in shares of Texas Instruments in the 4th quarter valued at $25,000. Ares Financial Consulting LLC bought a new stake in shares of Texas Instruments in the 4th quarter valued at $26,000. Finally, Cornerstone Financial Management LLC acquired a new stake in Texas Instruments during the 4th quarter worth $27,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth A number of research firms have issued reports on TXN. Wolfe Research reissued an “outperform” rating and issued a $315.00 target price on shares of Texas Instruments in a research note on Thursday, April 23rd. TD Cowen cut their price objective on Texas Instruments from $360.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Susquehanna boosted their price objective on Texas Instruments from $300.00 to $340.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Weiss Ratings raised Texas Instruments from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group raised their target price on shares of Texas Instruments from $200.00 to $225.00 and gave the stock a “sell” rating in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Texas Instruments currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.12.

Get Our Latest Analysis on Texas Instruments Texas Instruments Stock Down 0.7% Texas Instruments stock opened at $265.60 on Friday. The company’s 50-day moving average price is $291.25 and its two-hundred day moving average price is $258.71. The company has a quick ratio of 3.44, a current ratio of 4.86 and a debt-to-equity ratio of 0.72. The stock has a market cap of $242.56 billion, a P/E ratio of 40.43, a P/E/G ratio of 1.05 and a beta of 1.33. Texas Instruments Incorporated has a twelve month low of $152.73 and a twelve month high of $334.03.

Texas Instruments (NASDAQ:TXN – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The semiconductor company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.23. Texas Instruments had a return on equity of 35.77% and a net margin of 31.11%.The company had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. Texas Instruments’s revenue was up 22.8% on a year-over-year basis. Texas Instruments has set its Q3 2026 guidance at 2.230-2.570 EPS. As a group, analysts expect that Texas Instruments Incorporated will post 8.42 EPS for the current year.

Texas Instruments Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Friday, July 31st were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $5.68 annualized dividend and a yield of 2.1%. Texas Instruments’s payout ratio is presently 86.45%.

Texas Instruments Company Profile (Free Report)

Texas Instruments Inc (NASDAQ: TXN) is a global semiconductor company headquartered in Dallas, Texas, that designs and manufactures analog and embedded processing chips. The company’s products are used across a wide range of end markets, including industrial, automotive, personal electronics, communications and enterprise equipment. TI’s business emphasizes components that condition, convert, manage and move electrical signals—capabilities that are foundational to modern electronic systems.

TI’s product portfolio includes a broad array of analog integrated circuits—such as power management, amplifiers, data converters and interface devices—as well as embedded processors and microcontrollers used to control systems and run real-time applications.

See Also Five stocks we like better than Texas Instruments 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future Want to see what other hedge funds are holding TXN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Instruments Incorporated (NASDAQ:TXN – Free Report).

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I keep hitting the buy button on Broadcom (NASDAQ:AVGO | AVGO Price Prediction), and last week’s selloff handed me another reason to do it. When the 10-year Treasury yield ripped to 4.75% on July 31 and dragged AI names lower, AVGO fell 12.87% in a single week. I added again.

Here is what pulls me back. Broadcom designs the custom ASICs that hyperscalers like Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META), and OpenAI are locking into multi-year contracts to run their AI clusters. When borrowing costs climb, hyperscalers get pickier about capex, and pickier hyperscalers pick cheaper silicon over general-purpose GPUs. That is Broadcom’s edge, and rising Treasury yields sharpen it.

Data That Keeps Me Adding Start with the AI ramp. Q2 FY2026 AI semiconductor revenue reached $10.80 billion, up 143% year-over-year. Management guided Q3 AI revenue to $16.0 billion, over 200% year-over-year, and reiterated a fiscal 2027 target of “in excess of $100 billion”. Q2 AI bookings alone were over $30 billion against $10.8 billion shipped, with Hock Tan saying visibility now extends to 2028. That pipeline sits on signed contracts, including a 3 gigawatt Meta MTIA commitment through 2028 and a 10 gigawatt OpenAI deployment by 2029.

Second, the profitability is already here. Q2 operating income hit $10.788 billion, up 85.07% year-over-year. Free cash flow was $10.262 billion, or 46% of revenue. Adjusted EBITDA margin landed at 69% of revenue. Cash on the balance sheet more than doubled year-over-year to $19.628 billion. Fiscal 2025 threw off $26.914 billion in free cash flow.

Third, capital returns. Broadcom has raised its dividend for 15 consecutive years since fiscal 2011. The current quarterly payout is $0.65, and the company paid $3.1 billion in Q2 dividends. Management also authorized a $10 billion buyback through December 31, 2026, with $7.8 billion used in Q1 and another $600 million in Q2.

Why AVGO, Not Nvidia NVIDIA (NASDAQ:NVDA) is the reflex pick, and I own some. My money keeps landing here because Broadcom trades at a forward P/E of 20x, a rare multiple for a business guiding AI revenue growth over 200% next quarter. Broadcom pairs that with a 15-year dividend increase streak that Nvidia’s token payout cannot match, plus the analyst target sits at $527.88. As for the Treasury bonds many retirees are reaching for, 4.65% is fair income, and it caps at 4.65%. Broadcom is compounding free cash flow at 60.07% year-over-year.

Risk I’m Watching Customer concentration. A handful of hyperscalers drive the AI ramp. If Google, Meta, or OpenAI slow orders or shift to fully internal designs, the guidance breaks. Broadcom also carries $91.467 billion in total liabilities from the VMware deal, and higher rates make servicing that debt costlier. What blunts the risk for me is booking visibility through 2028, the gigawatt-scale contractual commitments already logged, and the fact that shareholders’ equity climbed to $87.691 billion while total liabilities actually declined 3.76% year-over-year.

Forward Conviction I Keep Acting On Rate fear is compressing growth multiples, and AVGO now sits at $364.03, well below its 52-week high of $494.18. Full-year FY2026 AI revenue is guided to $56 billion, with the path to over $100 billion in FY2027 already backed by customer commitments. When the market marks down a business generating $26.914 billion in annual free cash flow with a 15-year dividend growth streak because the 10-year moved 5 basis points, I do not sit on my hands. I buy more.

Contact [email protected] for any questions or corrections.

AlpenGlobal Capital LLC bought a new stake in Stryker Corporation (NYSE:SYK – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,155 shares of the medical technology company’s stock, valued at approximately $1,938,000. Stryker makes up about 1.2% of AlpenGlobal Capital LLC’s investment portfolio, making the stock its 26th biggest position.

Several other hedge funds have also bought and sold shares of SYK. Norges Bank bought a new position in shares of Stryker in the 4th quarter worth $1,822,272,000. Auto Owners Insurance Co lifted its holdings in shares of Stryker by 35,047.0% during the 4th quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company’s stock worth $1,024,444,000 after acquiring an additional 2,906,448 shares during the last quarter. Flossbach Von Storch SE purchased a new position in Stryker in the second quarter worth $464,506,000. Wellington Management Group LLP grew its position in Stryker by 22.6% in the fourth quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock worth $2,282,192,000 after acquiring an additional 1,198,665 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after acquiring an additional 1,146,998 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth Several equities research analysts have issued reports on the company. Raymond James Financial set a $370.00 price target on Stryker in a research note on Friday, July 31st. Sanford C. Bernstein set a $410.00 price objective on Stryker in a research report on Friday, May 1st. BMO Capital Markets began coverage on Stryker in a report on Wednesday, July 8th. They set an “outperform” rating and a $369.00 price objective on the stock. Citizens Jmp dropped their target price on Stryker from $440.00 to $400.00 and set a “market outperform” rating for the company in a research report on Monday, August 3rd. Finally, Robert W. Baird set a $385.00 target price on Stryker in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $386.28.

Get Our Latest Stock Analysis on Stryker Insider Activity In related news, VP Robert S. Fletcher sold 4,544 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the transaction, the vice president owned 10,582 shares in the company, valued at $3,247,298.34. The trade was a 30.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Debra King sold 826 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the transaction, the insider directly owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 665,370 shares of company stock valued at $216,238,501. Corporate insiders own 4.60% of the company’s stock.

Stryker Stock Down 3.5% Shares of NYSE:SYK opened at $327.97 on Friday. Stryker Corporation has a 1 year low of $281.00 and a 1 year high of $396.86. The company has a market cap of $125.80 billion, a PE ratio of 33.99, a P/E/G ratio of 2.17 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. The stock’s 50-day moving average is $326.64 and its 200 day moving average is $332.66.

Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.20. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.58 billion. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.13 earnings per share. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Sell-side analysts anticipate that Stryker Corporation will post 15.02 EPS for the current year.

Stryker Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Stryker’s payout ratio is presently 36.48%.

About Stryker (Free Report)

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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Allworth Financial LP purchased a new stake in shares of Cummins Inc. (NYSE:CMI – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 30,969 shares of the company’s stock, valued at approximately $22,087,000.

Several other institutional investors and hedge funds have also bought and sold shares of CMI. Juno Financial Group LLC bought a new position in shares of Cummins during the fourth quarter valued at approximately $883,000. Truist Financial Corp boosted its position in shares of Cummins by 4.8% in the 4th quarter. Truist Financial Corp now owns 64,005 shares of the company’s stock worth $32,671,000 after purchasing an additional 2,951 shares in the last quarter. Kepler Cheuvreux Suisse SA bought a new stake in shares of Cummins in the 4th quarter worth approximately $7,869,000. Westfield Capital Management Co. LP purchased a new stake in shares of Cummins in the 4th quarter worth approximately $7,797,000. Finally, Comprehensive Financial Consultants Institutional Inc. increased its position in Cummins by 643.0% during the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,311 shares of the company’s stock valued at $3,732,000 after buying an additional 6,327 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Price Performance NYSE CMI opened at $593.12 on Friday. Cummins Inc. has a one year low of $389.52 and a one year high of $737.76. The stock has a 50-day moving average of $662.30 and a 200 day moving average of $628.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73. The company has a market capitalization of $81.65 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 1.45 and a beta of 1.24.

Cummins (NYSE:CMI – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. During the same quarter in the prior year, the company posted $6.43 EPS. Cummins’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Cummins Inc. will post 30.06 EPS for the current year. Cummins Increases Dividend The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be given a $2.20 dividend. This is a boost from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, August 21st. This represents a $8.80 dividend on an annualized basis and a yield of 1.5%. Cummins’s payout ratio is presently 40.88%.

Analyst Upgrades and Downgrades A number of research analysts have issued reports on CMI shares. Argus lifted their price objective on Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Sanford C. Bernstein restated a “market perform” rating and set a $700.00 price target on shares of Cummins in a report on Wednesday, August 5th. UBS Group lowered their price target on Cummins from $850.00 to $835.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Citigroup upped their price target on shares of Cummins from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Truist Financial set a $894.00 price objective on shares of Cummins in a research report on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and an average target price of $745.64.

View Our Latest Analysis on Cummins

About Cummins (Free Report)

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.

Further Reading Five stocks we like better than Cummins 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future

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B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 65,568 shares of the business services provider’s stock, valued at approximately $11,687,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BKNG. Brighton Jones LLC lifted its stake in Booking by 34.9% during the fourth quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock worth $1,249,000 after purchasing an additional 65 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in Booking in the fourth quarter worth $209,000. Sivia Capital Partners LLC increased its stake in Booking by 25.0% during the second quarter. Sivia Capital Partners LLC now owns 165 shares of the business services provider’s stock valued at $955,000 after purchasing an additional 33 shares during the last quarter. Schnieders Capital Management LLC. increased its stake in Booking by 50.0% during the second quarter. Schnieders Capital Management LLC. now owns 87 shares of the business services provider’s stock valued at $504,000 after purchasing an additional 29 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Booking during the second quarter worth $179,000. Institutional investors own 92.42% of the company’s stock.

Insider Transactions at Booking In other news, CFO Ewout L. Steenbergen sold 20,000 shares of Booking stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total value of $4,220,600.00. Following the transaction, the chief financial officer owned 59,794 shares of the company’s stock, valued at $12,618,327.82. The trade was a 25.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 50,050 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the sale, the vice president directly owned 375,025 shares of the company’s stock, valued at approximately $77,851,439.75. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 140,050 shares of company stock worth $26,341,680. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth A number of equities research analysts recently weighed in on the stock. Barclays set a $210.00 price objective on shares of Booking and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Jefferies Financial Group lifted their target price on Booking from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Truist Financial set a $242.00 price target on Booking in a report on Wednesday, August 5th. Sanford C. Bernstein restated a “market perform” rating on shares of Booking in a research report on Thursday, June 11th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $240.00 target price on shares of Booking in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.72. Get Our Latest Report on BKNG

Booking Stock Performance NASDAQ:BKNG opened at $209.87 on Friday. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $231.80. The business has a fifty day moving average of $187.71 and a 200-day moving average of $177.15. The stock has a market cap of $157.69 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.29 and a beta of 1.07.

Booking (NASDAQ:BKNG – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $55.40 EPS. On average, equities research analysts predict that Booking Holdings Inc. will post 10.47 EPS for the current year.

Booking Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s payout ratio is currently 18.58%.

Booking Profile (Free Report)

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.

Read More Five stocks we like better than Booking 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future Want to see what other hedge funds are holding BKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Booking Holdings Inc. (NASDAQ:BKNG – Free Report).

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Bank of New York Mellon Corp bought a new stake in Southern Copper Corporation (NYSE:SCCO – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,278,460 shares of the basic materials company’s stock, valued at approximately $696,621,000. Bank of New York Mellon Corp owned approximately 0.88% of Southern Copper as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in SCCO. State Street Corp lifted its stake in Southern Copper by 2.4% in the fourth quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock valued at $410,646,000 after acquiring an additional 66,268 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Southern Copper by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock valued at $363,873,000 after purchasing an additional 7,194 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Southern Copper by 8.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company’s stock valued at $169,480,000 after purchasing an additional 90,237 shares during the last quarter. Vanguard Group Inc. grew its holdings in Southern Copper by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 983,822 shares of the basic materials company’s stock worth $141,149,000 after purchasing an additional 33,804 shares during the period. Finally, Legal & General Group Plc grew its holdings in Southern Copper by 1.5% during the third quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company’s stock worth $116,012,000 after purchasing an additional 14,212 shares during the period. Institutional investors own 7.94% of the company’s stock.

Insider Activity at Southern Copper In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of Southern Copper stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28. Following the sale, the director directly owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. The trade was a 10.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 509 shares of company stock valued at $97,753 over the last three months. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Stock Up 2.5% Shares of NYSE SCCO opened at $199.45 on Friday. The stock has a market capitalization of $166.41 billion, a P/E ratio of 29.16, a PEG ratio of 1.67 and a beta of 1.11. The stock’s fifty day moving average is $181.66 and its 200 day moving average is $182.97. Southern Copper Corporation has a 52 week low of $92.57 and a 52 week high of $223.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. Southern Copper (NYSE:SCCO – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.93 by $0.06. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The firm’s revenue was up 40.6% compared to the same quarter last year. Sell-side analysts forecast that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.2%. Southern Copper’s payout ratio is presently 64.33%.

Analyst Ratings Changes A number of research firms have recently issued reports on SCCO. Scotiabank reaffirmed an “underperform” rating and issued a $138.34 price objective (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. CICC Research cut shares of Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Barclays set a $164.03 price objective on shares of Southern Copper and gave the company an “underweight” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $146.84.

Get Our Latest Stock Analysis on SCCO

Southern Copper Profile (Free Report)

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

See Also Five stocks we like better than Southern Copper 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future

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Cannon Wealth Management Services LLC acquired a new stake in The Sherwin-Williams Company (NYSE:SHW – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,933 shares of the specialty chemicals company’s stock, valued at approximately $4,453,000. Sherwin-Williams comprises about 2.4% of Cannon Wealth Management Services LLC’s portfolio, making the stock its 14th biggest position.

A number of other large investors also recently made changes to their positions in SHW. Vanguard Group Inc. lifted its position in Sherwin-Williams by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 23,237,824 shares of the specialty chemicals company’s stock valued at $7,529,752,000 after acquiring an additional 600,119 shares in the last quarter. BlackRock Inc. bought a new position in Sherwin-Williams during the 2nd quarter worth about $6,100,083,000. State Street Corp raised its stake in shares of Sherwin-Williams by 2.4% in the 4th quarter. State Street Corp now owns 15,638,974 shares of the specialty chemicals company’s stock valued at $5,067,497,000 after purchasing an additional 364,832 shares during the period. Geode Capital Management LLC raised its stake in shares of Sherwin-Williams by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 5,231,615 shares of the specialty chemicals company’s stock valued at $1,687,498,000 after purchasing an additional 37,145 shares during the period. Finally, Norges Bank bought a new stake in shares of Sherwin-Williams in the fourth quarter valued at about $1,089,450,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Wall Street Analysts Forecast Growth Several research analysts have recently weighed in on SHW shares. JPMorgan Chase & Co. upped their price objective on Sherwin-Williams from $365.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Morgan Stanley restated an “overweight” rating and issued a $395.00 target price (up from $385.00) on shares of Sherwin-Williams in a research note on Wednesday, July 29th. Evercore reaffirmed an “outperform” rating on shares of Sherwin-Williams in a research report on Friday, May 8th. Berenberg Bank set a $380.00 price target on shares of Sherwin-Williams in a research note on Monday, June 8th. Finally, Guggenheim began coverage on shares of Sherwin-Williams in a report on Monday, August 3rd. They issued a “buy” rating and a $400.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and an average target price of $385.44.

Read Our Latest Report on Sherwin-Williams Insider Activity In other news, insider Justin T. Binns sold 13,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $352.70, for a total transaction of $4,761,450.00. Following the transaction, the insider directly owned 21,937 shares of the company’s stock, valued at approximately $7,737,179.90. This trade represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karl J. Jorgenrud sold 7,886 shares of Sherwin-Williams stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $368.30, for a total transaction of $2,904,413.80. Following the completion of the sale, the insider owned 11,944 shares of the company’s stock, valued at approximately $4,398,975.20. The trade was a 39.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is owned by insiders.

Sherwin-Williams Stock Performance NYSE SHW opened at $346.60 on Friday. The firm has a market capitalization of $84.14 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 2.63 and a beta of 1.10. The company has a current ratio of 0.73, a quick ratio of 0.46 and a debt-to-equity ratio of 2.16. The firm’s fifty day moving average price is $339.56 and its two-hundred day moving average price is $332.71. The Sherwin-Williams Company has a 1 year low of $289.86 and a 1 year high of $379.65.

Sherwin-Williams (NYSE:SHW – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.18. Sherwin-Williams had a return on equity of 67.97% and a net margin of 11.01%.The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same period last year, the firm posted $3.38 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. Sherwin-Williams has set its FY 2026 guidance at 11.800-12.200 EPS. As a group, research analysts anticipate that The Sherwin-Williams Company will post 12.08 EPS for the current year.

Sherwin-Williams Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 21st. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.49%.

(Free Report)

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.

Further Reading Five stocks we like better than Sherwin-Williams 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future

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BEIJING, Aug. 21, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced its unaudited financial results for the second quarter ended June 30, 2026.

Business and Financial Highlights for the Second Quarter 2026

Gross transaction value (GTV)1 was RMB933.8 billion (US$137.6 billion), an increase of 6.3% year-over-year. GTV of existing home transactions was RMB629.9 billion (US$92.8 billion), an increase of 8.0% year-over-year. GTV of new home transactions was RMB258.4 billion (US$38.1 billion), an increase of 1.2% year-over-year.Net revenues were RMB24.5 billion (US$3.6 billion), a decrease of 5.7% year-over-year.Net income was RMB2,624 million (US$387 million), an increase of 100.8% year-over-year. Adjusted net income2 was RMB3,185 million (US$469 million), an increase of 74.9% year-over-year.Number of stores was 60,274 as of June 30, 2026, a 0.4% decrease from one year ago. Number of active stores3 was 57,803 as of June 30, 2026, a 1.5% decrease from one year ago.Number of agents was 540,634 as of June 30, 2026, a 3.1% decrease from one year ago. Number of active agents4 was 454,571 as of June 30, 2026, a 7.5% decrease from one year ago.Mobile monthly active users (MAU)5 averaged 45.7 million in the second quarter of 2026, compared to 48.7 million in the same period of 2025. Mr. Stanley Yongdong Peng, Chairman of the Board and Chief Executive Officer of Beike, commented, “In the second quarter of 2026, we saw our operating foundation strengthen further, while our organizational transformation began to take deeper root in day-to-day operations. Starting with consumer needs and practical challenges encountered on the front lines, we are further enhancing collaboration among professional service providers, our platform and AI: professional service providers exercise judgment and take accountability; our platform facilitates collaboration and safeguards service delivery; and AI enables professional expertise to be codified into verifiable and reusable organizational capabilities.

Looking ahead, we will remain committed to pursuing quality growth at scale and continue to assess the effectiveness of our transformation across consumer experience, professional service provider development, operating efficiency, unit economics, and replicability across cities and service scenarios, laying a stronger foundation for the Company’s long-term, sustainable growth.”

Mr. Tao Xu, Executive Director and Chief Financial Officer of Beike, added, “In the second quarter, the proactive adjustments we made earlier to our cost structure yielded further results, enabling our resource allocation to better align with the current market environment. Building on this foundation, we continued to enhance operating efficiency with a focus on customer value. The scale of our housing transaction services recovered, while the Company’s profitability further improved. The contribution margins of all our major business lines increased both year-over-year and quarter-over-quarter, driving our gross margin up by 6.7 percentage points year-over-year to 28.6%. Meanwhile, operating expenses decreased by 14.1% year-over-year. Adjusted operating margin and adjusted net income margin reached 14.6% and 13.0%, respectively, both marking their highest levels in three years.

In the second quarter, the Company repurchased approximately US$250 million of its shares and conducted share repurchases in Hong Kong for the first time. Looking ahead, building on our more efficient cost structure, we will further direct resources toward building capabilities that can create greater value for customers, continue to strengthen our operating resilience, and drive long-term sustainable growth.”

Second Quarter 2026 Financial Results

Net Revenues

Net revenues decreased by 5.7% to RMB24.5 billion (US$3.6 billion) in the second quarter of 2026 from RMB26.0 billion in the same period of 2025, primarily attributable to decreased net revenues from home renovation and furnishing and home rental services, which was partially offset by the increase of net revenues from new home and existing home transaction services driven by improved productivity per connected store.

Net revenues from existing home transaction services increased by 4.5% to RMB7.0 billion (US$1.0 billion) in the second quarter of 2026 from RMB6.7 billion in the same period of 2025, primarily due to an 8.0% increase in GTV of existing home transactions to RMB629.9 billion (US$92.8 billion) in the second quarter of 2026 from RMB583.5 billion in the same period of 2025.Among that, (i) commission revenue decreased by 1.4% to RMB5.3 billion (US$0.8 billion) in the second quarter of 2026 from RMB5.4 billion in the same period of 2025, primarily due to a 3.1% decrease in GTV of existing home transactions served by Lianjia stores to RMB206.6 billion (US$30.4 billion) in the second quarter of 2026 from RMB213.1 billion in the same period of 2025; and

(ii) revenues derived from platform service, franchise service and other value-added services, which are mostly charged to connected stores and agents on the Company’s platform, increased by 27.8% to RMB1.7 billion (US$0.3 billion) in the second quarter of 2026 from RMB1.4 billion in the same period of 2025, primarily due to a 14.3% increase in the GTV of existing home transactions served by connected agents on the Company’s platform to RMB423.3 billion (US$62.4 billion) in the second quarter of 2026 from RMB370.4 billion in the same period of 2025 driven by improved productivity per connected store and the increased revenues from certain value-added services that were less directly linked to GTV.

Net revenues from new home transaction services increased by 3.8% to RMB8.9 billion (US$1.3 billion) in the second quarter of 2026 from RMB8.6 billion in the same period of 2025, primarily due to deeper coverage of high-quality projects, which contributed to a 1.2% increase of GTV of new home transactions to RMB258.4 billion (US$38.1 billion) in the second quarter of 2026 from RMB255.4 billion in the same period of 2025. Of these, the GTV of new home transactions facilitated on Beike platform through connected agents, dedicated sales team with the expertise in new home transaction services and other sales channels increased by 0.9% to RMB210.2 billion (US$31.0 billion) in the second quarter of 2026 from RMB208.2 billion in the same period of 2025, while the GTV of new home transactions served by Lianjia brand increased by 2.3% to RMB48.2 billion (US$7.1 billion) in the second quarter of 2026 from RMB47.1 billion in the same period of 2025.Net revenues from home renovation and furnishing decreased by 30.1% to RMB3.2 billion (US$0.5 billion) in the second quarter of 2026 from RMB4.6 billion in the same period of 2025, as the Company proactively optimized its customer acquisition channel mix and moderated the pace of certain non-brokerage channels.Net revenues from home rental services decreased by 14.8% to RMB4.8 billion (US$0.7 billion) in the second quarter of 2026 from RMB5.7 billion in the same period of 2025, primarily due to the impact of an increasing proportion of new product offering within the Carefree Rent business. Under the new model, revenue is recognized based on net service fees derived from two sources: (1) commissions earned for facilitating the signing of lease agreements between homeowners and tenants; and (2) fees for lease term management services rendered throughout the lease period. The decrease was partially offset by the increase in the number of rental units under the Carefree Rent business.Net revenues from emerging and other services increased by 26.4% to RMB546 million (US$80 million) in the second quarter of 2026 from RMB432 million in the same period of 2025, primarily due to the increase of revenues from financial services. Contribution Margin

The Company also reviews contribution margin to measure segment profitability. The Company defines contribution for each service line as the revenue less the direct compensation to its internal agents and sales professionals, split commission to connected agents and other sales channels for such services, property leasing costs and direct operating costs related to home rental services and direct costs for home renovation and furnishing. The Company defines contribution margin as a percentage of contribution bearing to revenue.

Contribution margin for existing home transaction services. The contribution margin for existing home transaction services increased to 46.1% in the second quarter of 2026 from 39.9% in the same period of 2025, primarily attributable to a lower fixed compensation costs for Lianjia agents as a percentage of net revenues from existing home transaction services, and a higher proportion of revenues derived from platform service, franchise service and other value-added services with a higher margin than commission revenues.Contribution margin for new home transaction services. The contribution margin for new home transaction services increased to 28.8% in the second quarter of 2026 from 24.4% in the same period of 2025, primarily attributable to cost structure optimization driven by refined operations.Contribution margin for home renovation and furnishing. The contribution margin for home renovation and furnishing increased to 39.6% in the second quarter of 2026 from 32.1% in the same period of 2025, primarily attributable to enhanced supply chain capabilities, which helped reduce material costs.Contribution margin for home rental services. The contribution margin for home rentals increased to 15.3% in the second quarter of 2026 from 8.4% in the same period of 2025, primarily driven by the continuous increase in the proportion of high-margin new service offerings with revenues recognized under the net service fee method under the Carefree Rent business. In addition, improved operational efficiency further supported healthier profitability. Cost of Revenues

Total cost of revenues decreased by 13.7% to RMB17.5 billion (US$2.6 billion) in the second quarter of 2026 from RMB20.3 billion in the same period of 2025.

Commission – split. The Company’s cost of revenues for commissions to connected agents and other sales channels decreased by 2.3% to RMB5.8 billion (US$0.9 billion) in the second quarter of 2026 from RMB5.9 billion in the same period of 2025, primarily due to cost structure optimization driven by refined operations of new home transaction services with relatively flat year-over-year GTV of new home transactions facilitated on Beike platform through connected agents, dedicated sales team with the expertise in new home transaction services and other sales channels.Commission and compensation – internal. The Company’s cost of revenues for internal commission and compensation decreased by 4.8% to RMB4.5 billion (US$0.7 billion) in the second quarter of 2026 from RMB4.7 billion in the same period of 2025, primarily attributable to decreased fixed personnel costs.Cost of home renovation and furnishing. The Company’s cost of revenues for home renovation and furnishing was RMB1.9 billion (US$0.3 billion) in the second quarter of 2026, a decrease of 37.8% from RMB3.1 billion in the same period of 2025, primarily due to lower net revenues from home renovation and furnishing and increased contribution margin. Cost of home rental services. The Company’s cost of revenues for home rental services, which mainly consists of variable cost, decreased by 21.3% to RMB4.1 billion (US$0.6 billion) in the second quarter of 2026 from RMB5.2 billion in the same period of 2025, primarily due to the growing portion of offerings that recognize revenue under the net service fee method and contribute higher profit margins, as well as operational efficiency improvements.Cost related to stores. The Company’s cost related to stores decreased by 25.9% to RMB564 million (US$83 million) in the second quarter of 2026 from RMB762 million in the same period of 2025, primarily attributable to Lianjia store optimization.Other costs. The Company’s other costs increased by 8.7% to RMB640 million (US$94 million) in the second quarter of 2026 from RMB588 million in the same period of 2025, primarily attributable to increased share-based compensation costs. Gross Profit

Gross profit increased by 23.1% to RMB7.0 billion (US$1.0 billion) in the second quarter of 2026 from RMB5.7 billion in the same period of 2025. Gross margin increased to 28.6% in the second quarter of 2026 from 21.9% in the same period of 2025, primarily due to higher contribution margins for all main segments.

Income from Operations

Total operating expenses decreased by 14.1% to RMB4.0 billion (US$0.6 billion) in the second quarter of 2026 from RMB4.6 billion in the same period of 2025, primarily due to the Company’s previous cost optimization initiatives.

General and administrative expenses decreased by 2.1% to RMB2.0 billion (US$0.3 billion) in the second quarter of 2026 from RMB2.1 billion in the same period of 2025, primarily due to decreased personnel costs and overheads as a result of a decrease in headcount, partially offset by the mainly non-recurring provision for credit losses.Sales and marketing expenses decreased by 26.1% to RMB1.4 billion (US$0.2 billion) in the second quarter of 2026 from RMB1.9 billion in the same period of 2025, primarily due to lower personnel costs and reduced advertising and promotion expenses, as well as the decreased scale-driven variable selling expenses of home renovation and furnishing.Research and development expenses decreased by 13.4% to RMB549 million (US$81 million) in the second quarter of 2026 from RMB633 million in the same period of 2025, primarily due to decreased personnel costs as a result of a decrease in headcount of research and development personnel and decreased technical service fees. Income from operations was RMB3,026 million (US$446 million) in the second quarter of 2026, compared to income from operations of RMB1,059 million in the same period of 2025. Operating margin increased to 12.3% in the second quarter of 2026 from 4.1% in the same period of 2025, primarily due to increased gross profit margin and improved operating leverage.

Adjusted income from operations6 was RMB3,592 million (US$529 million) in the second quarter of 2026, compared to RMB1,607 million in the same period of 2025. Adjusted operating margin7 was 14.6% in the second quarter of 2026, compared to 6.2% in the same period of 2025. Adjusted EBITDA8 was RMB4,175 million (US$615 million) in the second quarter of 2026, compared to RMB2,203 million in the same period of 2025.

Net Income

Net income increased by 100.8% to RMB2,624 million (US$387 million) in the second quarter of 2026 from RMB1,307 million in the same period of 2025.

Adjusted net income increased by 74.9% to RMB3,185 million (US$469 million) in the second quarter of 2026, from RMB1,821 million in the same period of 2025.

Net Income attributable to KE Holdings Inc.’s Ordinary Shareholders

Net income attributable to KE Holdings Inc.’s ordinary shareholders was RMB2,623 million (US$387 million) in the second quarter of 2026, compared to RMB1,301 million in the same period of 2025.

Adjusted net income attributable to KE Holdings Inc.’s ordinary shareholders9 was RMB3,184 million (US$469 million) in the second quarter of 2026, compared to RMB1,815 million in the same period of 2025.

Net Income per ADS

Basic and diluted net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders10 were RMB2.43 (US$0.36) and RMB2.35 (US$0.35) in the second quarter of 2026, respectively, compared to basic and diluted net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders of RMB1.16 and RMB1.11 in the same period of 2025, respectively.

Adjusted basic and diluted net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders11 were RMB2.95 (US$0.43) and RMB2.85 (US$0.42) in the second quarter of 2026, respectively, compared to RMB1.62 and RMB1.55 in the same period of 2025, respectively.

Cash, Cash Equivalents, Restricted Cash and Short-Term Investments

                As of June 30, 2026, the combined balance of the Company’s cash, cash equivalents, restricted cash and short-term investments amounted to RMB56.0 billion (US$8.3 billion).

Share Repurchase Program

As previously disclosed, the Company established a share repurchase program in August 2022 and upsized and extended it in August 2023, August 2024 and August 2025, under which the Company may repurchase up to US$5 billion worth of its Class A ordinary shares and/or ADSs until August 31, 2028, subject to obtaining a general unconditional mandate for the repurchase from the shareholders of the Company at each of the next two annual general meetings to be held in the forthcoming years to continue its share repurchase after the expiry of the existing share repurchase mandate granted by the annual general meeting held on June 12, 2026. As of June 30, 2026, the Company had purchased, in aggregate, approximately 185.4 million ADSs (representing approximately 556.3 million Class A ordinary shares) on the New York Stock Exchange for a consideration of approximately US$2,967.7 million, as well as approximately 4.9 million Class A ordinary shares on the Hong Kong Stock Exchange for a consideration of approximately HK$201.5 million under this share repurchase program since its launch.

Conference Call Information

The Company will hold an earnings conference call at 8:00 A.M. U.S. Eastern Time on Friday, August 21, 2026 (8:00 P.M. Beijing/Hong Kong Time on Friday, August 21, 2026) to discuss the financial results.

For participants who wish to join the conference call using dial-in numbers, please complete online registration using the link provided below at least 20 minutes prior to the scheduled call start time. Dial-in numbers, passcode and unique access PIN would be provided upon registering.

Participant Online Registration:

Chinese Line: https://s1.c-conf.com/diamondpass/10055963-m4ns1a.html

English Simultaneous Interpretation Line (listen-only mode): https://s1.c-conf.com/diamondpass/10055964-md34ad.html

A replay of the conference call will be accessible through August 28, 2026, by dialing the following numbers:

United States:+1-855-883-1031Mainland, China:400-1209-216Hong Kong, China:800-930-639International:+61-7-3107-6325Replay PIN (Chinese line):10055963Replay PIN (English simultaneous interpretation line):10055964   A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://investors.ke.com.

Exchange Rate

This press release contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.7851 to US$1.00, the noon buying rate in effect on June 30, 2026, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial information contained in this earnings release.

Non-GAAP Financial Measures

The Company uses adjusted income (loss) from operations, adjusted net income (loss), adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders, adjusted operating margin, adjusted EBITDA and adjusted net income (loss) per ADS attributable to KE Holdings Inc.’s ordinary shareholders, each a non-GAAP financial measure, in evaluating its operating results and formulating its business plan. Beike believes that these non-GAAP financial measures help identify underlying trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that the Company includes in its net income (loss). Beike also believes that these non-GAAP financial measures provide useful information about its results of operations, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by its management in formulating its business plan. A limitation of using these non-GAAP financial measures is that these non-GAAP financial measures exclude share-based compensation expenses that have been, and will continue to be for the foreseeable future, a significant recurring expense in the Company’s business. The Group recognized fair value loss and impairment in relation to its investments in Beihaojia business. As such impairment does not represent a non-recurring item, it has not been excluded when calculating Non‑GAAP financial measures.

The presentation of these non-GAAP financial measures should not be considered in isolation or construed as an alternative to gross profit, net income (loss) or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review these non-GAAP financial measures and the reconciliation to the most directly comparable GAAP measures. The non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. Beike encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. Adjusted income (loss) from operations is defined as income (loss) from operations, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, and (iii) impairment of goodwill, intangible assets and other long-lived assets. Adjusted operating margin is defined as adjusted income (loss) from operations as a percentage of net revenues. Adjusted net income (loss) is defined as net income (loss), excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, (iii) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (iv) impairment of goodwill, intangible assets and other long-lived assets, (v) impairment of investments, and (vi) tax effects of the above non-GAAP adjustments. Adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders is defined as net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, (iii) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (iv) impairment of goodwill, intangible assets and other long-lived assets, (v) impairment of investments, (vi) tax effects of the above non-GAAP adjustments, and (vii) effects of non-GAAP adjustments on net income (loss) attributable to non-controlling interests shareholders. Adjusted EBITDA is defined as net income (loss), excluding (i) income tax expense, (ii) share-based compensation expenses, (iii) amortization of intangible assets, (iv) depreciation of property, plant and equipment, (v) interest income, net, (vi) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (vii) impairment of goodwill, intangible assets and other long-lived assets, and (viii) impairment of investments. Adjusted net income (loss) per ADS attributable to KE Holdings Inc.’s ordinary shareholders is defined as adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders divided by weighted average number of ADS outstanding during the periods used in calculating adjusted net income (loss) per ADS, basic and diluted.

Please see the “Unaudited reconciliation of GAAP and non-GAAP results” included in this press release for a full reconciliation of each non-GAAP measure to its respective comparable GAAP measure.

About KE Holdings Inc.

KE Holdings Inc. is a leading integrated online and offline platform for housing transactions and services. The Company is a pioneer in building the infrastructure and standards to reinvent how service providers and customers efficiently navigate and complete housing transactions and services in China, ranging from existing and new home sales, home rentals, to home renovation and furnishing, and other services. The Company owns and operates Lianjia, China’s leading real estate brokerage brand in respect of service quality and an integral part of its Beike platform. With more than 24 years of operating experience through Lianjia since its inception in 2001, the Company believes the success and proven track record of Lianjia pave the way to build the infrastructure and standards and drive the rapid and sustainable growth of Beike.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Among other things, the quotations from management in this press release, as well as Beike’s strategic and operational plans, contain forward-looking statements. Beike may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about KE Holdings Inc.’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Beike’s goals and strategies; Beike’s future business development, financial condition and results of operations; expected changes in the Company’s revenues, costs or expenditures; Beike’s ability to empower services and facilitate transactions on Beike platform; competition in the industry in which Beike operates; relevant government policies and regulations relating to the industry; Beike’s ability to protect the Company’s systems and infrastructures from cyber-attacks; Beike’s dependence on the integrity of brokerage brands, stores and agents on the Company’s platform; general economic and business conditions in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in KE Holdings Inc.’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and KE Holdings Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please visit: https://investors.ke.com.

For investor and media inquiries, please contact:

In China:
KE Holdings Inc.
Investor Relations
Siting Li
E-mail: [email protected]

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: [email protected]

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

Source: KE Holdings Inc.

KE Holdings Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS 
(All amounts in thousands, except for share, per share data)
       As of
December 31, As of
June 30,  2025 2026  RMB RMB US$       ASSETS      Current assets      Cash and cash equivalents 7,773,182 7,387,006 1,088,710Restricted cash 8,170,605 9,039,096 1,332,198Short-term investments 39,579,961 39,585,933 5,834,245Financing receivables, net of allowance for credit losses of RMB174,478 and RMB182,002 as of December 31, 2025 and June 30, 2026, respectively 1,353,682 2,551,794 376,088Accounts receivable and contract assets, net of allowance for credit losses of RMB1,612,202 and RMB1,791,091 as of December 31, 2025 and June 30, 2026, respectively 3,936,976 4,928,874 726,426Amounts due from and prepayments to related parties 409,867 417,792 61,575Short-term loan receivables from related parties 315,755 40,853 6,021Inventories 2,854,034 2,841,717 418,817Prepayments, receivables and other assets 3,726,128 3,554,272 523,834Total current assets 68,120,190 70,347,337 10,367,914Non-current assets      Property, plant and equipment, net 2,069,624 1,866,925 275,151Right-of-use assets 19,144,129 13,267,588 1,955,401Long-term investments, net 20,148,524 19,586,382 2,886,676Intangible assets, net 722,676 659,979 97,269Goodwill 4,660,360 4,660,360 686,852Long-term loan receivables from related parties 39,573 15,019 2,214Other non-current assets 1,763,102 1,973,609 290,873Total non-current assets 48,547,988 42,029,862 6,194,436TOTAL ASSETS 116,668,178 112,377,199 16,562,350 KE Holdings Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)
(All amounts in thousands, except for share, per share data)       As of
December 31, As of
June 30,  2025 2026  RMB RMB US$       LIABILITIES      Current liabilities      Accounts payable 6,052,129 6,099,579 898,967Amounts due to related parties 348,467 351,075 51,742Short-term loan payable to related parties 497,939 1,081,598 159,408Employee compensation and welfare payable 6,504,197 4,823,321 710,870Customer deposits payable 4,157,248 5,685,233 837,900Income taxes payable 702,607 1,039,826 153,251Short-term borrowings 207,717 85,807 12,646Long-term borrowings, current portion - 191,689 28,251Lease liabilities, current portion 10,658,576 7,898,221 1,164,054Contract liabilities and deferred revenue 5,690,293 6,914,203 1,019,027Accrued expenses and other current liabilities 7,588,077 7,112,041 1,048,186Total current liabilities 42,407,250 41,282,593 6,084,302Non-current liabilities      Deferred tax liabilities 317,209 385,384 56,799Lease liabilities, non-current portion 6,969,571 4,764,633 702,220Long-term borrowings 182,917 - -Long-term loan payable to related parties 259,249 366,249 53,978Other non-current liabilities 2,148 1,952 288Total non-current liabilities 7,731,094 5,518,218 813,285TOTAL LIABILITIES 50,138,344 46,800,811 6,897,587 KE Holdings Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)
(All amounts in thousands, except for share, per share data)
       As of
December 31, As of
June 30,  2025
 2026
  RMB RMB US$       SHAREHOLDERS’ EQUITY      KE Holdings Inc. shareholders’ equity      Ordinary shares (US$0.00002 par value; 25,000,000,000 ordinary shares authorized, comprising of 24,114,698,720 Class A ordinary shares and 885,301,280 Class B ordinary shares as of both December 31, 2025 and June 30, 2026. 3,366,778,024 Class A ordinary shares issued and 3,233,808,859 Class A ordinary shares outstanding(1)as of December 31, 2025; 3,326,488,417 Class A ordinary shares issued and 3,191,987,682 Class A ordinary shares outstanding(1)as of June 30, 2026; and 139,447,770 and 135,950,651 Class B ordinary shares issued and outstanding as of December 31, 2025 and June 30, 2026, respectively) 450  443  65 Treasury shares (848,433) (571,181) (84,182)Additional paid-in capital 64,802,176  61,614,341  9,080,830 Statutory reserves 1,054,872  1,054,872  155,469 Accumulated other comprehensive income (loss) 290,029  (271,637) (40,034)Retained earnings 1,142,194  3,690,039  543,844 Total KE Holdings Inc. shareholders' equity 66,441,288  65,516,877  9,655,992 Non-controlling interests 88,546  59,511  8,771 TOTAL SHAREHOLDERS' EQUITY 66,529,834  65,576,388  9,664,763 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 116,668,178  112,377,199  16,562,350            (1)  Excluding (i) the Class A ordinary shares issued to the depositary bank for the bulk issuance of ADSs reserved for future issuance upon the exercise or vesting of awards granted under our share incentive plans, and (ii) the Class A ordinary shares repurchased but not cancelled, comprising both the ADSs repurchased on the NYSE and the Class A ordinary shares repurchased on the HKEX.

KE Holdings Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(All amounts in thousands, except for share, per share data, ADS and per ADS data)
  For the Three Months Ended For the Six Months Ended June 30,
2025 June 30,
2026 June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2026 RMB RMB US$ RMB RMB US$            Net revenues           Existing home transaction services6,719,345  7,022,942  1,035,054  13,589,752  13,154,976  1,938,804 New home transaction services8,619,323  8,946,805  1,318,596  16,694,318  14,033,673  2,068,307 Home renovation and furnishing4,565,354  3,190,501  470,222  7,510,797  5,529,599  814,962 Home rental services5,674,624  4,833,122  712,314  10,762,400  9,845,823  1,451,095 Emerging and other services431,990  546,100  80,485  781,716  867,376  127,835 Total net revenues26,010,636  24,539,470  3,616,671  49,338,983  43,431,447  6,401,003 Cost of revenues           Commission-split(5,932,431) (5,796,363) (854,278) (11,625,571) (9,316,132) (1,373,028)Commission and compensation-internal(4,729,219) (4,503,398) (663,719) (9,547,496) (8,460,778) (1,246,964)Cost of home renovation and furnishing(3,098,710) (1,927,048) (284,012) (5,084,666) (3,419,236) (503,933)Cost of home rental services(5,200,202) (4,094,810) (603,500) (9,946,258) (8,366,039) (1,233,002)Cost related to stores(761,941) (564,435) (83,187) (1,478,750) (1,135,933) (167,416)Others(588,343) (639,662) (94,275) (1,135,560) (1,159,600) (170,904)Total cost of revenues(1)(20,310,846) (17,525,716) (2,582,971) (38,818,301) (31,857,718) (4,695,247)Gross profit5,699,790  7,013,754  1,033,700  10,520,682  11,573,729  1,705,756 Operating expenses           Sales and marketing expenses(1)(1,897,988) (1,402,055) (206,637) (3,670,945) (2,484,199) (366,126)General and administrative expenses(1)(2,080,713) (2,036,776) (300,184) (3,954,473) (3,749,322) (552,582)Research and development expenses(1)(633,442) (548,712) (80,870) (1,217,052) (1,041,277) (153,465)Impairment of goodwill, intangible assets and other long-lived assets(28,191) -  -  (28,191) -  - Total operating expenses(4,640,334) (3,987,543) (587,691) (8,870,661) (7,274,798) (1,072,173)Income from operations1,059,456  3,026,211  446,009  1,650,021  4,298,931  633,583 Interest income, net223,940  126,515  18,646  492,508  261,462  38,535 Share of results of equity investees6,971  613  90  14,316  (15,789) (2,327)Fair value changes in investments, net111,740  75,976  11,197  222,226  211,757  31,209 Impairment loss for equity investments accounted for using Measurement Alternative(1,214) (284) (42) (1,214) (855) (126)Foreign currency exchange (loss) gain(5,314) 15,118  2,228  (44,947) 13,655  2,012 Other income, net322,552  328,846  48,466  767,999  635,558  93,670 Income before income tax expense1,718,131  3,572,995  526,594  3,100,909  5,404,719  796,556 Income tax expense(411,487) (949,117) (139,883) (938,942) (1,525,764) (224,870)Net income1,306,644  2,623,878  386,711  2,161,967  3,878,955  571,686  KE Holdings Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Continued)
(All amounts in thousands, except for share, per share data, ADS and per ADS data)
     For the Three Months Ended For the Six Months Ended June 30,
2025 June 30,
2026 June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2026 RMB RMB US$ RMB RMB US$            Net income attributable to non-controlling interests shareholders(5,573) (998) (147) (5,129) (584) (86)Net income attributable to KE Holdings Inc.1,301,071  2,622,880  386,564  2,156,838  3,878,371  571,600 Net income attributable to KE Holdings Inc.’s ordinary shareholders1,301,071  2,622,880  386,564  2,156,838  3,878,371  571,600             Net income1,306,644  2,623,878  386,711  2,161,967  3,878,955  571,686 Currency translation adjustments(53,412) (307,189) (45,274) (77,107) (582,671) (85,875)Unrealized(losses) gains on available-for-sale investments, net of reclassification(25,383) 15,116  2,228  6,092  21,005  3,096 Total comprehensive income1,227,849  2,331,805  343,665  2,090,952  3,317,289  488,907 Comprehensive income attributable to non-controlling interests shareholders(5,573) (998) (147) (5,129) (584) (86)Comprehensive income attributable to KE Holdings Inc.1,222,276  2,330,807  343,518  2,085,823  3,316,705  488,821 Comprehensive income attributable to KE Holdings Inc.’s ordinary shareholders1,222,276  2,330,807  343,518  2,085,823  3,316,705  488,821  KE Holdings Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Continued)
(All amounts in thousands, except for share, per share data, ADS and per ADS data)             For the Three Months Ended  For the Six Months Ended June 30,
2025 June 30,
2026 June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2026 RMB RMB US$ RMB RMB US$            Weighted average number of ordinary shares used in computing net income per share, basic and diluted           —Basic3,357,155,883 3,235,195,371 3,235,195,371 3,359,945,551 3,255,466,680 3,255,466,680—Diluted3,507,278,161 3,354,634,458 3,354,634,458 3,514,649,718 3,378,674,991 3,378,674,991            Weighted average number of ADS used in computing net income per ADS, basic and diluted           —Basic1,119,051,961 1,078,398,457 1,078,398,457 1,119,981,850 1,085,155,560 1,085,155,560—Diluted1,169,092,720 1,118,211,486 1,118,211,486 1,171,549,906 1,126,224,997 1,126,224,997            Net income per share attributable to KE Holdings Inc.'s ordinary shareholders           —Basic0.39 0.81 0.12 0.64 1.19 0.18—Diluted0.37 0.78 0.11 0.61 1.15 0.17            Net income per ADS attributable to KE Holdings Inc.'s ordinary shareholders           —Basic1.16 2.43 0.36 1.93 3.57 0.53—Diluted1.11 2.35 0.35 1.84 3.44 0.51            (1) Includes share-based compensation expenses as follows:  Cost of revenues94,457 161,465 23,797 204,015 257,637 37,971Sales and marketing expenses35,807 68,172 10,047 81,102 107,955 15,911General and administrative expenses317,474 274,380 40,439 648,677 479,920 70,731Research and development expenses41,490 35,030 5,163 82,603 59,587 8,782 KE Holdings Inc.
UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except for share, per share data, ADS and per ADS data)     For the Three Months Ended  For the Six Months Ended June 30,
2025 June 30,
2026 June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2026 RMB RMB US$ RMB RMB US$            Income from operations1,059,456   3,026,211   446,009   1,650,021   4,298,931   633,583  Share-based compensation expenses489,228  539,047  79,446  1,016,397  905,099  133,395 Amortization of intangible assets resulting from acquisitions and business cooperation agreement29,883  26,684  3,933  59,766  53,368  7,865 Impairment of goodwill, intangible assets and other long-lived assets28,191  -  -  28,191  -  - Adjusted income from operations1,606,758   3,591,942   529,388   2,754,375   5,257,398   774,843              Net income1,306,644   2,623,878   386,711   2,161,967   3,878,955   571,686  Share-based compensation expenses489,228  539,047  79,446  1,016,397  905,099  133,395 Amortization of intangible assets resulting from acquisitions and business cooperation agreement29,883  26,684  3,933  59,766  53,368  7,865 Changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration(27,687) 1,613  238  (40,771) (28,716) (4,232)Impairment of goodwill, intangible assets and other long-lived assets28,191  -  -  28,191  -  - Impairment of investments1,214  284  42  1,214  855  126 Tax effects on non-GAAP adjustments(6,494) (6,602) (973) (12,988) (13,204) (1,946)Adjusted net income1,820,979   3,184,904   469,397   3,213,776   4,796,357   706,894              Net income1,306,644   2,623,878   386,711   2,161,967   3,878,955   571,686  Income tax expense411,487  949,117  139,883  938,942  1,525,764  224,870 Share-based compensation expenses489,228  539,047  79,446  1,016,397  905,099  133,395 Amortization of intangible assets35,395  31,097  4,583  70,566  62,676  9,237 Depreciation of property, plant and equipment182,565  156,836  23,115  360,819  326,854  48,172 Interest income, net(223,940) (126,515) (18,646) (492,508) (261,462) (38,535)Changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration(27,687) 1,613  238  (40,771) (28,716) (4,232)Impairment of goodwill, intangible assets and other long-lived assets28,191  -  -  28,191  -  - Impairment of investments1,214  284  42  1,214  855  126 Adjusted EBITDA2,203,097   4,175,357   615,372   4,044,817   6,410,025   944,719              Net income attributable to KE Holdings Inc.’s ordinary shareholders1,301,071   2,622,880   386,564   2,156,838   3,878,371   571,600  Share-based compensation expenses489,228  539,047  79,446  1,016,397  905,099  133,395 Amortization of intangible assets resulting from acquisitions and business cooperation agreement29,883  26,684  3,933  59,766  53,368  7,865 Changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration(27,687) 1,613  238  (40,771) (28,716) (4,232)Impairment of goodwill, intangible assets and other long-lived assets28,191  -  -  28,191  -  - Impairment of investments1,214  284  42  1,214  855  126 Tax effects on non-GAAP adjustments(6,494) (6,602) (973) (12,988) (13,204) (1,946)Effects of non-GAAP adjustments on net income attributable to non-controlling interests shareholders(7) -  -  (14) -  - Adjusted net income attributable to KE Holdings Inc.’s ordinary shareholders1,815,399   3,183,906   469,250   3,208,633   4,795,773   706,808   KE Holdings Inc.
UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Continued)
(All amounts in thousands, except for share, per share data, ADS and per ADS data)
  For the Three Months Ended For the Six Months Ended June 30,
2025 June 30,
2026 June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2026 RMB RMB US$ RMB RMB US$            Weighted average number of ADS used in computing net income per ADS, basic and diluted           —Basic1,119,051,961 1,078,398,457 1,078,398,457 1,119,981,850 1,085,155,560 1,085,155,560—Diluted1,169,092,720 1,118,211,486 1,118,211,486 1,171,549,906 1,126,224,997 1,126,224,997            Weighted average number of ADS used in calculating adjusted net income per ADS, basic and diluted           —Basic1,119,051,961 1,078,398,457 1,078,398,457 1,119,981,850 1,085,155,560 1,085,155,560—Diluted1,169,092,720 1,118,211,486 1,118,211,486 1,171,549,906 1,126,224,997 1,126,224,997            Net income per ADS attributable to KE Holdings Inc.'s ordinary shareholders           —Basic1.16 2.43 0.36 1.93 3.57 0.53—Diluted1.11 2.35 0.35 1.84 3.44 0.51            Non-GAAP adjustments to net income per ADS attributable to KE Holdings Inc.'s ordinary shareholders           —Basic0.46 0.52 0.07 0.93 0.85 0.12—Diluted0.44 0.50 0.07 0.90 0.82 0.12            Adjusted net income per ADS attributable to KE Holdings Inc.'s ordinary shareholders           —Basic1.62 2.95 0.43 2.86 4.42 0.65—Diluted1.55 2.85 0.42 2.74 4.26 0.63 KE Holdings Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(All amounts in thousands)
     For the Three Months Ended For the Six Months Ended June 30,
2025 June 30,
2026 June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2026 RMB RMB US$ RMB RMB US$            Net cash provided by (used in) operating activities826,213  6,612,138  974,510  (3,139,058) 5,140,836  757,669 Net cash provided by (used in) investing activities1,664,823  (6,779,212) (999,132) 7,950,492  (1,765,397) (260,189)Net cash used in financing activities(6,182,037) (3,377,191) (497,740) (5,920,964) (2,874,313) (423,621)Effect of exchange rate change on cash, cash equivalents and restricted cash5,190  (6,038) (888) 40,690  (18,811) (2,774)Net (decrease) increase in cash, cash equivalents and restricted cash(3,685,811) (3,550,303) (523,250) (1,068,840) 482,315  71,085 Cash, cash equivalents and restricted cash at the beginning of the period22,918,385  19,976,405  2,944,158  20,301,414  15,943,787  2,349,823 Cash, cash equivalents and restricted cash at the end of the period19,232,574  16,426,102  2,420,908  19,232,574  16,426,102  2,420,908  KE Holdings Inc.
UNAUDITED SEGMENT CONTRIBUTION MEASURE
(All amounts in thousands)
       For the Three Months Ended  For the Six Months Ended  June 30,
2025 June 30,
2026 June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2026  RMB RMB US$ RMB RMB US$Existing home transaction services            Net revenues 6,719,345  7,022,942  1,035,054  13,589,752  13,154,976  1,938,804 Commission and compensation (4,035,304) (3,787,244) (558,171) (8,287,595) (7,385,920) (1,088,549)Contribution 2,684,041  3,235,698  476,883  5,302,157  5,769,056  850,255 New home transaction services            Net revenues 8,619,323  8,946,805  1,318,596  16,694,318  14,033,673  2,068,307 Commission and compensation (6,515,885) (6,371,280) (939,010) (12,701,657) (10,149,552) (1,495,859)Contribution 2,103,438  2,575,525  379,586  3,992,661  3,884,121  572,448 Home renovation and furnishing            Net revenues 4,565,354  3,190,501  470,222  7,510,797  5,529,599  814,962 Material costs, commission and compensation (3,098,710) (1,927,048) (284,012) (5,084,666) (3,419,236) (503,933)Contribution 1,466,644  1,263,453  186,210  2,426,131  2,110,363  311,029 Home rental services            Net revenues 5,674,624  4,833,122  712,314  10,762,400  9,845,823  1,451,095 Property leasing costs, commission and compensation (5,200,202) (4,094,810) (603,500) (9,946,258) (8,366,039) (1,233,002)Contribution 474,422  738,312  108,814  816,142  1,479,784  218,093 Emerging and other services            Net revenues 431,990  546,100  80,485  781,716  867,376  127,835 Commission and compensation (110,461) (141,237) (20,816) (183,815) (241,438) (35,584)Contribution 321,529  404,863  59,669  597,901  625,938  92,251  KE Holdings Inc.
UNAUDITED SEGMENT CONTRIBUTION MEASURE (Continued)
(All amounts in thousands)
       For the Three Months Ended For the Six Months Ended  June 30,
2025 June 30,
2026 June 30,
2026 June 30,
2025 June 30,
2026 June 30,
2026  RMB RMB US$ RMB RMB US$Reconciliation ofprofit            Cost related to stores (761,941) (564,435) (83,187) (1,478,750) (1,135,933) (167,416)Other costs (588,343) (639,662) (94,275) (1,135,560) (1,159,600) (170,904)Amounts not allocated to segment:            Sales and marketing expenses (1,897,988) (1,402,055) (206,637) (3,670,945) (2,484,199) (366,126)General and administrative expenses (2,080,713) (2,036,776) (300,184) (3,954,473) (3,749,322) (552,582)Research and development expenses (633,442) (548,712) (80,870) (1,217,052) (1,041,277) (153,465)Impairment of goodwill, intangible assets and other long-lived assets (28,191) -  -  (28,191) -  - Total operating expenses (4,640,334) (3,987,543) (587,691) (8,870,661) (7,274,798) (1,072,173)Income from operations 1,059,456  3,026,211  446,009  1,650,021  4,298,931  633,583  _______________________________ 

1 GTV for a given period is calculated as the total value of all transactions which the Company facilitated on the Company’s platform and evidenced by signed contracts as of the end of the period, including the value of the existing home transactions, new home transactions, home renovation and furnishing and emerging and other services (excluding home rental services), and including transactions that are contracted but pending closing at the end of the relevant period. For the avoidance of doubt, for transactions that failed to close afterwards, the corresponding GTV represented by these transactions will be deducted accordingly.
2 Adjusted net income (loss) is a non-GAAP financial measure, which is defined as net income (loss), excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, (iii) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (iv) impairment of goodwill, intangible assets and other long-lived assets, (v) impairment of investments, and (vi) tax effects of the above non-GAAP adjustments. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details.
3 Based on our accumulated operational experience, we have introduced the operating metrics of number of active stores and number of active agents on our platform, which can better reflect the operational activeness of stores and agents on our platform.
“Active stores” as of a given date is defined as stores on our platform excluding the stores which (i) have not facilitated any housing transaction during the preceding 60 days, (ii) do not have any agent who has engaged in any critical steps in housing transactions (including but not limited to introducing new properties, attracting new customers and conducting property showings) during the preceding seven days, or (iii) have not been visited by any agent during the preceding 14 days.
4 “Active agents” as of a given date is defined as agents on our platform excluding the agents who (i) delivered notice to leave but have not yet completed the exit procedures, (ii) have not engaged in any critical steps in housing transactions (including but not limited to introducing new properties, attracting new customers and conducting property showings) during the preceding 30 days, or (iii) have not participated in facilitating any housing transaction during the preceding three months.
5 “Mobile monthly active users” or “mobile MAU” are to the sum of (i) the number of accounts that have accessed our platform through our Beike or Lianjia mobile app (with duplication eliminated) at least once during a month, and (ii) the number of Weixin users that have accessed our platform through our Weixin mini Programs at least once during a month. Average mobile MAU for any period is calculated by dividing (i) the sum of the Company’s mobile MAUs for each month of such period, by (ii) the number of months in such period.
6 Adjusted income (loss) from operations is a non-GAAP financial measure, which is defined as income (loss) from operations, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, and (iii) impairment of goodwill, intangible assets and other long-lived assets. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details. 
7 Adjusted operating margin is adjusted income (loss) from operations as a percentage of net revenues.
8 Adjusted EBITDA is a non-GAAP financial measure, which is defined as net income (loss), excluding (i) income tax expense, (ii) share-based compensation expenses, (iii) amortization of intangible assets, (iv) depreciation of property, plant and equipment, (v) interest income, net, (vi) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (vii) impairment of goodwill, intangible assets and other long-lived assets, and (viii) impairment of investments. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details. 
9 Adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders is a non-GAAP financial measure, which is defined as net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, (iii) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (iv) impairment of goodwill, intangible assets and other long-lived assets, (v) impairment of investments, (vi) tax effects of the above non-GAAP adjustments, and (vii) effects of non-GAAP adjustments on net income (loss) attributable to non-controlling interests shareholders. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details.
10 ADS refers to American Depositary Share. Each ADS represents three Class A ordinary shares of the Company. Net income (loss) per ADS attributable to KE Holdings Inc.’s ordinary shareholders is net income (loss) attributable to ordinary shareholders divided by weighted average number of ADS outstanding during the periods used in calculating net income (loss) per ADS, basic and diluted.
11 Adjusted net income (loss) per ADS attributable to KE Holdings Inc.’s ordinary shareholders is a non-GAAP financial measure, which is defined as adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders divided by weighted average number of ADS outstanding during the periods used in calculating adjusted net income (loss) per ADS, basic and diluted. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details.

Bank of New York Mellon Corp purchased a new stake in shares of CME Group Inc. (NASDAQ:CME – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,927,516 shares of the financial services provider’s stock, valued at approximately $867,313,000. Bank of New York Mellon Corp owned approximately 1.09% of CME Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC grew its holdings in CME Group by 2,075.0% during the 1st quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 83 shares during the last quarter. Elkhorn Partners Limited Partnership bought a new position in CME Group during the 4th quarter worth $27,000. Hilton Head Capital Partners LLC bought a new position in CME Group during the 4th quarter worth $28,000. Legacy Wealth Managment LLC ID lifted its holdings in CME Group by 191.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider’s stock worth $29,000 after buying an additional 71 shares during the period. Finally, Anfield Capital Management LLC lifted its holdings in CME Group by 197.4% during the 4th quarter. Anfield Capital Management LLC now owns 113 shares of the financial services provider’s stock worth $31,000 after buying an additional 75 shares during the period. 87.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades CME has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of CME Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Barclays dropped their price target on shares of CME Group from $316.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 9th. Bank of America upped their price objective on shares of CME Group from $226.00 to $230.00 and gave the company an “underperform” rating in a research note on Thursday, July 23rd. The Goldman Sachs Group lowered their target price on shares of CME Group from $267.00 to $245.00 and set a “sell” rating for the company in a research note on Tuesday, June 30th. Finally, Rothschild & Co Redburn raised shares of CME Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $316.00 to $323.00 in a research report on Thursday, June 11th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, CME Group has a consensus rating of “Hold” and an average target price of $288.56.

View Our Latest Analysis on CME Group Insiders Place Their Bets In other news, Director William R. Shepard purchased 325 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average cost of $230.57 per share, with a total value of $74,935.25. Following the purchase, the director owned 260,442 shares in the company, valued at $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

CME Group Trading Up 1.5% NASDAQ:CME opened at $270.87 on Friday. CME Group Inc. has a 12 month low of $218.31 and a 12 month high of $329.16. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $97.40 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 3.11 and a beta of 0.23. The firm has a fifty day simple moving average of $251.06 and a two-hundred day simple moving average of $279.68.

CME Group (NASDAQ:CME – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.68 billion. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.96 earnings per share. Analysts expect that CME Group Inc. will post 12.27 EPS for the current fiscal year.

CME Group Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 9th. CME Group’s payout ratio is presently 44.11%.

About CME Group (Free Report)

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.

Further Reading Five stocks we like better than CME Group 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future Want to see what other hedge funds are holding CME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CME Group Inc. (NASDAQ:CME – Free Report).

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The phrase "cash is king" translates easily to "trash is king," particularly for Waste Management (WM -0.07%), now known as just WM. The industrial company is involved in every aspect of waste management, collecting trash and recyclables, transporting them to its landfills and recycling stations, and converting landfill gas into renewable electricity and renewable natural gas (RNG).

Its shares have risen less than 2% so far this year, but there are plenty of reasons to invest in the Houston-based company, particularly with the stock trading at less than 28 times forward price to earnings, well below its traditional forward price-to-earnings (P/E) ratio.

Here are three reasons to load up on WM stock:

Image source: Getty Images.

It has a huge moat due to its integrated model WM's competitive advantage centers on its post-collection infrastructure. New landfills in North America face extreme regulatory hurdles and intense local opposition, commonly referred to as the "NIMBY" (Not In My Backyard) effect. Because landfill capacity is non-replaceable and strictly controlled, WM's extensive network of active landfills provides a durable cost and scale advantage that new competitors can't match.

Today's Change

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224.92

It owns 253 solid landfills, four hazardous waste landfills, and 113 recycling facilities, more than any other waste company in the U.S., and has a 34% market share.

The company's $7.2 billion purchase of Stericycle in 2024 has given the company an additional high-margin growth area: medical waste. It has 17 medical waste incinerators.

It enjoys utility-like pricing power Trash collection and disposal are non-discretionary utility-like services. Because waste removal accounts for a negligible share of total operating expenses for commercial clients and municipalities, WM has strong pricing power.

The company routinely passes through core price increases that offset inflationary pressures without triggering meaningful customer churn, generating stable, predictable operating cash flow across all economic cycles.

In the second quarter, the company reported revenue of $6.68 billion, up 4% year over year, and earnings per share (EPS) of $1.95, up 8% over the same period a year ago.

WM is forecasting full-year adjusted operating earnings before interest, taxes, depreciation, and amortization (EBITDA) between $8.15 billion and $8.25 billion, up 8.5% at the midpoint. It's also estimating for free cash flow between $3.75 billion and $3.85 billion, up 6.4% at the midpoint. Revenue is estimated to be between $26.275 billion and $26.475 billion, up 4.6% at the midpoint.

Sustainable dividend growth and good capital allocation WM has demonstrated a 23-year track record of annual dividend increases, supported by a conservative payout ratio of 49.26%. Over the past 10 years, it has increased its dividend by more than 130%. It raised its dividend by 14.5% this year to $0.945 per quarter. In the second quarter, it also had $659 in share repurchases.

The cash-generative nature of the core collection-and-disposal business allows management to simultaneously fund strategic growth initiatives, such as investments in renewable natural gas (RNG) infrastructure and automated recycling facilities, while maintaining consistent share repurchases and growing dividend returns. 

 | Source: Synaptics Incorporated

SAN JOSE, Calif., Aug. 21, 2026 (GLOBE NEWSWIRE) -- Synaptics® Incorporated (Nasdaq: SYNA) today announced that Ken Rizvi has resigned from his position as Chief Financial Officer, effective immediately, to pursue another opportunity. Mr. Rizvi will remain employed in an advisory role through September 30, 2026 to assist with the transition of his responsibilities.

Synaptics has elected not to conduct a search at this time for a successor CFO due to the announcement on June 25, 2026 of the pending merger between Synaptics and onsemi. Rahul Patel, President and CEO, will serve as the principal financial officer through the closing of the merger.

Mr. Kermit Nolan, Synaptics' former Chief Accounting Officer, is returning as a consultant to advise the internal team through the transition. Over his 20-year tenure, he held several roles at the company, including acting CFO.

“Synaptics has a strong and experienced finance organization, and we are confident in the team’s ability to ensure continuity through the pending transaction,” said Rahul Patel, President and CEO, Synaptics. “Our strategic priorities and focus on driving success across Edge AI and Physical AI markets remain unchanged. I would like to thank Ken for his contributions to our success over the past few years and wish him the best in his new role.”

About Synaptics Incorporated
Synaptics (Nasdaq: SYNA) is driving innovation in AI at the Edge, bringing AI closer to end users, and transforming how we engage with intelligent connected devices, whether at home, at work, or on the move. As a go-to partner for forward-thinking product innovators, Synaptics powers the future with its cutting-edge Synaptics Astra® AI-Native embedded compute, wireless connectivity, and multimodal sensing solutions. We’re making the digital experience smarter, faster, more intuitive, secure, and seamless. From touch, display, and biometrics to AI-driven wireless connectivity, video, vision, audio, speech, and security processing, Synaptics is the force behind the next generation of technology enhancing how we live, work, and play. Follow Synaptics on LinkedIn, Facebook, Instagram, and YouTube, or visit www.synaptics.com.

Cautionary Statement Regarding Forward-Looking Statements
This communication relates to a proposed business combination transaction between Synaptics Incorporated and ON Semiconductor Corporation. This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Synaptics’ and onsemi’s current expectations, estimates and projections about the expected date of closing of the proposed transaction and the potential benefits thereof, their respective businesses and industries, management’s beliefs and certain assumptions made by Synaptics and onsemi, all of which are subject to change. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “strategy,” or “anticipates,” or the negative of those words or other comparable terminology that convey uncertainty of future events or outcomes.

These forward-looking statements involve known and unknown risks and uncertainties, which may cause Synaptics’ or onsemi’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Factors and risks that may impact future results and performance include, but are not limited to, the following factors: (1) the risk that the conditions to the closing of the transaction are not satisfied, including the risk that required approvals from regulators or the stockholders of Synaptics for the transaction are not obtained; (2) litigation relating to the transaction; (3) uncertainties as to the timing of the consummation of the transaction and the ability of each party to consummate the transaction; (4) risks that the proposed transaction disrupts the current plans and operations of Synaptics or onsemi, including restrictions during the pendency of the transaction that may impact the ability to pursue certain business opportunities or strategic transactions; (5) the ability of Synaptics and onsemi to retain and hire key personnel; (6) competitive responses to the proposed transaction; (7) unexpected costs, charges or expenses resulting from the transaction; (8) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transaction; (9) the combined companies’ ability to achieve the growth prospects and synergies expected from the transaction, as well as delays, challenges and expenses associated with integrating the combined companies’ existing businesses; (10) uncertainty as to the long-term value of onsemi’s common stock; (11) legislative, regulatory and economic developments; and (12) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as Synaptics’ and onsemi’s response to any of the aforementioned factors. These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in the proxy statement/prospectus that will be included in the Registration Statement on Form S-4 that will be filed with the SEC in connection with the proposed transaction. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.

In addition, actual results are subject to other risks and uncertainties that relate more broadly to Synaptics’ overall business, including those more fully described in Synaptics’ filings with the Securities and Exchange Commission (“SEC”) including its annual report on Form 10-K for the fiscal year ended June 27, 2026, and its quarterly reports filed on Form 10-Q for the current fiscal year, and onsemi’s overall business and financial condition, including those more fully described in onsemi’s filings with the SEC including its annual report on Form 10-K for the fiscal year ended December 31, 2025, and its quarterly reports filed on Form 10-Q for its current fiscal year. Forward-looking statements are not guarantees of performance, and speak only as of the date made, and neither Synaptics nor its management undertakes any obligation to update or revise any forward-looking statements.

No Offer or Solicitation
This communication is for informational purposes only and does not constitute, or form a part of, an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Important Additional Information about the Transaction and Where To Find It
The proposed transaction will be submitted to the stockholders of Synaptics for their consideration. In connection with the proposed transaction, onsemi will file with the SEC a Registration Statement on Form S-4 that will include a proxy statement of Synaptics and that also constitutes a prospectus of onsemi. Each of Synaptics and onsemi will provide the proxy statement/prospectus to Synaptics stockholders. Synaptics and onsemi also plan to file other documents with the SEC regarding the proposed transaction. This document is not a substitute for any prospectus, proxy statement or any other document which Synaptics or onsemi may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. You may obtain copies of all documents filed with the SEC regarding this transaction, free of charge, at the SEC’s website (www.sec.gov). In addition, investors and stockholders will be able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by the parties on Synaptics Investor Relations at https://investor.synaptics.com/ (for documents filed with the SEC by Synaptics) or onsemi Investor Relations at https://investor.onsemi.com/ (for documents filed with the SEC by onsemi).

Participants in the Solicitation
Synaptics, onsemi, and certain of their respective directors, executive officers and other members of management and employees, under SEC rules may be deemed to be participants in the solicitation of proxies from Synaptics stockholders in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of Synaptics stockholders in connection with the proposed transaction, and a description of their direct and indirect interests, by security holdings or otherwise, will be set forth in the proxy statement/prospectus when it is filed with the SEC. You can find more detailed information about Synaptics’ executive officers and directors under the headings “Proposal 1 – Election of Directors,” “Director Compensation,” “Compensation Discussion and Analysis,” “Named Executive Officer Compensation Tables,” “CEO Pay Ratio Disclosure,” “Pay Versus Performance Disclosure” and “Beneficial Ownership of Certain Stockholders” in its definitive proxy statement filed with the SEC on September 16, 2025. To the extent holdings of Synaptics common stock by the directors and executive officers of Synaptics have changed from the amounts of Synaptics common stock held by such persons as reflected therein, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC, which are available at https://www.sec.gov/edgar/browse/?CIK=817720&owner=exclude under the tab “Ownership Disclosures”. You can find more detailed information about onsemi’s executive officers and directors under the headings “The Board of Directors and Corporate Governance,” “Compensation of Executive Officers” and “Stock Ownership” in its definitive proxy statement filed with the SEC on April 2, 2026. To the extent holdings of onsemi common stock by the directors and executive officers of onsemi have changed from the amounts of onsemi common stock held by such persons as reflected therein, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC, which are available at https://www.sec.gov/edgar/browse/?CIK=1097864&owner=exclude under the tab “Ownership Disclosures”. Additional information about Synaptics’ executive officers and directors and onsemi’s executive officers and directors can be found in the above-referenced Registration Statement on Form S-4 when it becomes available.

Investor Relations  
Munjal Shah
Synaptics
+1-408-518-7639
[email protected]

Media Contact
Neeta Shenoy
Synaptics
+1-408-425-2654
[email protected]

Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries. All other marks are the property of their respective owners.

Vectus Air Defense Systems to provide Air Defense as a Service for critical infrastructure; Swarmer — a founding partner with a 20% equity interest, contributing battle-proven air defense technologies and autonomy.  | Source: Swarmer

AUSTIN, Texas, Aug. 21, 2026 (GLOBE NEWSWIRE) -- Swarmer, Inc (“Swarmer” or the “Company”) (Nasdaq: SWMR), a drone autonomy software company which has supported more than 100,000 real-world combat missions in Ukraine since April 2024, today announced its strategic partnership with and equity investment in Vectus Air Defense Systems, a newly established company led by Erik Prince and focused on providing air defense as a service to governments and critical infrastructure operators.

Vectus Air Defense Systems will design, integrate and operate complete layered air-defense systems under multi-year contractual agreements, encompassing system architecture, equipment, personnel, operations, management and maintenance — an end-to-end managed service designed around the specific threat environment and operating requirements of each customer.

“Over the past year, I have spent considerable time in Ukraine, the Middle East, Africa and Latin America speaking with both technology suppliers and potential customers,” said Erik Prince, Founder of Vectus Air Defense Systems and Non-Executive Chairman of Swarmer, “It’s clear that the threat is evolving rapidly and the demand for a private sector solution is very strong. We need to achieve a drastic reduction in the cost of defense and to enable customers to take the protection of critical assets into their own hands. This is not just a business opportunity but a societal requirement.”

Swarmer will work closely with Vectus Air Defense Systems on the development of advanced counter-UAS capabilities, including drone interceptor swarming technology.

Vectus Air Defense Systems will integrate best-in-class, battle-tested technologies from the United States, Ukraine, Israel, and other allied nations, combining advanced detection and tracking with a layered counter-UAS architecture incorporating detection, electronic warfare, drone interceptors and large-caliber cannons with a high rate of fire. As threats and defensive technologies evolve, the systems deployed at customer sites are expected to evolve with them.

“The future of air defense will be autonomous, distributed and built around technologies that can evolve as quickly as the threats they are designed to defeat,” said Alex Fink, President and U.S. Chief Executive Officer of Swarmer. “Erik’s deep experience with defense ministries, military leaders and security institutions gives Vectus Air Defense Systems the ability to bring together the best technologies from across the market and deliver them through a new air-defense-as-a-service model. Swarmer is thrilled to be a part of it from day one.”

About Vectus Air Defense Systems

Vectus Air Defense Systems provides Air Defense as a Service for sovereign governments and critical infrastructure operators. The company designs, integrates and continuously operates layered air-defense systems under multi-year service agreements, while monitoring evolving threats and upgrading deployed systems as technologies and tactics change. Its mission is to help ensure that critical infrastructure remains operational when disruption is not an option.

About Swarmer

Swarmer™ is a defense technology company that specializes in vendor-agnostic software which allows one operator to intuitively control hundreds of autonomous platforms in real time. Swarmer’s primary mission areas include autonomous swarm coordination, integration of multi-domain unmanned systems and AI-powered autonomy software for distributed operations. Swarmer is not a drone manufacturer and does not depend on any single platform, supplier or hardware lifecycle. Instead, Swarmer operates at the intelligence layer, developing autonomy, coordination and decision-making software that enables large numbers of low-cost unmanned systems to operate collectively as one coherent, resilient force. Swarmer’s technology has been rigorously validated in real-world kinetic environments and was first deployed in combat operations in Ukraine in April 2024. Since then, it has completed more than 100,000 combat missions, generating terabytes of proprietary data that informs its machine-learning models and enables the replication of advanced pilot performance at scale. Swarmer’s routine use in combat missions generates continuous streams of telemetry, sensor data and operational feedback which are then used to refine performance, increase resilience and accelerate learning. Swarmer has headquarters in Austin, Texas, and maintains operations and teams in Ukraine, Poland and Estonia.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements about the anticipated strategic and financial benefits of the Company’s partnership with and equity investment in Vectus Air Defense Systems; the expected scope, capabilities and market opportunity of Vectus Air Defense Systems’ planned air defense as a service offering; Vectus Air Defense’s plans to provide multi-year managed services encompassing system architecture, equipment, personnel, operations, management and maintenance; the Company’s planned contribution of its autonomy software and technology integration capabilities to Vectus Air Defense Systems; the expected relevance of the Company’s operational learning cycles and combat data to counter-UAS and air-defense missions; the Company’s belief that Vectus Air Defense Systems can help drive down the cost per defensive effect; the Company’s plans to integrate technologies from multiple suppliers; the status of discussions with potential joint-venture partners and prospective customers; and the Company’s strategy to evaluate and pursue additional strategic opportunities.

Forward-looking statements are based on current expectations, estimates, forecasts, and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, among others: the Company’s limited operating history as a public company; its history of losses and limited current revenue; customer concentration and the timing, non-renewal, or loss of customer engagements; the Company’s ability to convert pilot programs, memoranda of understanding, and development-stage relationships into binding commercial contracts or revenue; defense procurement cycles and government budget priorities; geopolitical conditions affecting operations, customers, suppliers, and deployments in Ukraine and other regions; export control, sanctions, defense trade, procurement, and other regulatory requirements; competition in the defense technology and autonomous systems markets; the Company’s ability to develop, validate, scale, and integrate its software across third-party unmanned platforms; risks associated with artificial intelligence, machine learning, data availability, data quality, cybersecurity, and operational performance in real-world environments; reliance on key personnel and technical talent; supply chain and manufacturing constraints affecting the Company’s customers or partners; and the other risks described in the Company’s filings with the Securities and Exchange Commission.

Forward-looking statements speak only as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by law. Additional risks and uncertainties are described in Swarmer’s filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in Swarmer’s most recent registration statement, most recent Quarterly Report on Form 10-Q and other filings filed with or furnished to the SEC.

Investor Relations Contact: [email protected]

Media Relations Contact: [email protected]

BXP, Inc. (NYSE:BXP – Get Free Report) has earned an average rating of “Moderate Buy” from the twenty brokerages that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $74.5789.

A number of research firms recently issued reports on BXP. Truist Financial dropped their target price on shares of BXP from $70.00 to $64.00 and set a “hold” rating for the company in a research report on Tuesday, May 26th. Citigroup increased their price objective on shares of BXP from $58.00 to $69.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of BXP from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of BXP in a research report on Wednesday, August 12th. Finally, Evercore set a $68.00 price objective on BXP in a research report on Monday, July 6th.

View Our Latest Analysis on BXP

Insider Transactions at BXP In other news, CFO Michael E. Labelle sold 26,113 shares of BXP stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $66.35, for a total transaction of $1,732,597.55. Following the sale, the chief financial officer owned 5,839 shares in the company, valued at $387,417.65. This trade represents a 81.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by company insiders. Institutional Trading of BXP Hedge funds and other institutional investors have recently modified their holdings of the business. Rehmann Capital Advisory Group grew its stake in shares of BXP by 4.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 4,280 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 175 shares during the period. Keybank National Association OH lifted its position in shares of BXP by 5.4% during the 4th quarter. Keybank National Association OH now owns 3,578 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 183 shares during the period. State of Wyoming lifted its position in shares of BXP by 45.5% during the 4th quarter. State of Wyoming now owns 617 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 193 shares during the period. Minot DeBlois Advisors LLC boosted its stake in BXP by 2.5% in the 4th quarter. Minot DeBlois Advisors LLC now owns 7,902 shares of the real estate investment trust’s stock valued at $533,000 after buying an additional 196 shares in the last quarter. Finally, Rexford Capital Inc. boosted its stake in BXP by 11.9% in the 4th quarter. Rexford Capital Inc. now owns 1,876 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 200 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

BXP Stock Up 1.0% Shares of NYSE BXP opened at $67.86 on Friday. The stock has a market capitalization of $10.83 billion, a PE ratio of 36.48, a P/E/G ratio of 2.51 and a beta of 1.01. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 2.07. The firm has a fifty day moving average of $67.85 and a 200-day moving average of $61.40. BXP has a 52-week low of $49.72 and a 52-week high of $79.33.

BXP (NYSE:BXP – Get Free Report) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $895.70 million for the quarter, compared to analysts’ expectations of $858.07 million. BXP had a return on equity of 3.88% and a net margin of 8.44%.The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.71 earnings per share. BXP has set its FY 2026 guidance at 6.990-7.050 EPS and its Q3 2026 guidance at 1.800-1.820 EPS. On average, analysts anticipate that BXP will post 7.03 EPS for the current year.

BXP Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.80 annualized dividend and a yield of 4.1%. BXP’s payout ratio is 150.54%.

BXP Company Profile (Get Free Report)

Boston Properties, Inc (NYSE: BXP) is a publicly traded real estate investment trust (REIT) specializing in the ownership, management, and development of Class A office properties across major U.S. markets. Headquartered in Boston, Massachusetts, the company’s portfolio comprises high-quality office buildings, mixed-use developments and select retail assets designed to serve leading corporations in key metropolitan areas.

Established in 1970 by Mortimer B. Zuckerman, Boston Properties has grown through disciplined acquisitions and strategic ground-up developments.

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Shares of Williams Companies, Inc. (The) (NYSE:WMB – Get Free Report) have been assigned an average rating of “Buy” from the twenty ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $85.60.

A number of brokerages have recently weighed in on WMB. Citigroup upped their price target on shares of Williams Companies from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Morgan Stanley boosted their target price on Williams Companies from $99.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday. Canadian Imperial Bank of Commerce upped their target price on Williams Companies from $83.00 to $85.00 and gave the stock an “outperformer” rating in a research report on Tuesday, May 26th. TD Cowen increased their price target on Williams Companies from $81.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company lifted their price target on Williams Companies from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th.

Read Our Latest Research Report on WMB

Williams Companies Price Performance Shares of WMB opened at $71.86 on Tuesday. The firm has a market capitalization of $87.90 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 1.51 and a beta of 0.58. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.43 and a current ratio of 0.48. Williams Companies has a one year low of $56.08 and a one year high of $80.07. The stock’s fifty day moving average is $73.40 and its 200-day moving average is $73.15. Williams Companies (NYSE:WMB – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The pipeline company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.83 billion. Williams Companies had a net margin of 25.17% and a return on equity of 18.49%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 earnings per share. Williams Companies has set its FY 2026 guidance at 2.350-2.350 EPS. Equities analysts anticipate that Williams Companies will post 2.48 EPS for the current year.

Williams Companies Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Friday, September 11th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.10 annualized dividend and a yield of 2.9%. Williams Companies’s dividend payout ratio (DPR) is currently 83.67%.

Insider Transactions at Williams Companies In related news, SVP Terrance Lane Wilson sold 13,000 shares of Williams Companies stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $74.87, for a total transaction of $973,310.00. Following the transaction, the senior vice president directly owned 268,159 shares of the company’s stock, valued at $20,077,064.33. The trade was a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 17,000 shares of company stock worth $1,262,930 over the last quarter. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Williams Companies Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Williams Companies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 133,963,343 shares of the pipeline company’s stock worth $8,052,537,000 after buying an additional 883,245 shares in the last quarter. State Street Corp increased its holdings in shares of Williams Companies by 1.9% in the fourth quarter. State Street Corp now owns 67,981,106 shares of the pipeline company’s stock valued at $4,086,344,000 after buying an additional 1,296,991 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Williams Companies by 4.8% in the fourth quarter. Bank of America Corp DE now owns 46,053,873 shares of the pipeline company’s stock valued at $2,768,298,000 after buying an additional 2,100,164 shares in the last quarter. Morgan Stanley lifted its position in shares of Williams Companies by 11.0% during the 4th quarter. Morgan Stanley now owns 33,572,067 shares of the pipeline company’s stock valued at $2,018,017,000 after acquiring an additional 3,314,851 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Williams Companies by 43.4% during the 2nd quarter. Wellington Management Group LLP now owns 33,097,208 shares of the pipeline company’s stock worth $2,460,446,000 after acquiring an additional 10,013,946 shares in the last quarter. Institutional investors own 86.44% of the company’s stock.

(Get Free Report)

Williams Companies, Inc (NYSE: WMB) is a U.S.-based energy infrastructure company focused on the midstream segment of the natural gas value chain. The company develops, owns and operates assets that gather, process, transport and store natural gas and natural gas liquids (NGLs). Its operations support the movement of gas from production areas to end users including utilities, power generators, industrial customers and export facilities.

Williams’s product and service offering includes interstate and intrastate pipeline transmission, gas-gathering systems, processing facilities that remove impurities and separate NGLs, storage services and fractionation and transportation of NGL products.

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Broadcom Inc (NASDAQ:AVGO, XETRA:1YD), the US semiconductor company, is in talks to raise more than $60 billion in debt to fund a financing deal that would supply AI chips to Anthropic and other companies.

That is according to Bloomberg, which cited people familiar with the matter.

The talks point to the scale of borrowing now being lined up to build out AI computing capacity.

How the deal is structured

The financing could include a junior debt tranche of roughly $30 billion, according to the report.

A tranche is a slice of a larger borrowing, each carrying its own risk and repayment terms.

Broadcom would guarantee part of a senior-secured tranche that could range from about $60 billion to $70 billion.

Senior-secured debt ranks first for repayment and is backed by specific assets, making it lower risk than junior debt.

Taken together, the sums under discussion could bring the total raise to as much as $100 billion.

A deal of that size would rank among the largest corporate financings tied to the AI boom.

Who is involved

Blackstone and Apollo Global Management (NYSE:APO), two of the largest US private capital firms, are in talks to take part in the financing.

Their involvement would follow a partnership the three companies struck in June.

Private capital firms have moved increasingly into lending for AI infrastructure as banks reach the limits of what they will underwrite alone.

Broadcom, Apollo and Blackstone did not immediately respond to requests for comment on the Bloomberg report.

The figures under discussion have not been formally confirmed.

Why it matters for Anthropic

The deal would channel funding towards chips for Anthropic, the company behind the Claude chatbot.

Access to computing power has become one of the biggest constraints on AI companies, and securing it often requires financing on a scale usually seen in energy or infrastructure projects.

Anthropic is separately preparing to file paperwork for an initial public offering that could rival the record set by SpaceX.

Borrowing arrangements of this kind allow AI firms to lock in chip supply without carrying the full cost on their own balance sheets.

The reported talks underline how far the industry now depends on outside capital to keep pace with demand.

3 Gold Stocks Under $5 With Massive UpsideGold Royalty NYSEAMERICAN: GROY outlined plans to expand its cash-generating royalty portfolio, projecting a 60% increase in gold equivalent ounces in 2026 and targeting roughly 30,000 gold equivalent ounces by 2030, according to Vice President of Capital Markets and Sustainability Jackie Przybylowski.

The company, founded in 2020 and publicly listed in 2021, began with 18 royalties and no revenue. Przybylowski said Gold Royalty subsequently expanded through acquisitions of Ely Gold, Golden Valley and Abitibi Royalties, adding assets including its flagship 3% royalty on Agnico Eagle’s Canadian Malartic mine in Quebec.

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Gold Royalty now has approximately 260 assets and about 10 cash-flowing assets in its portfolio. The company’s holdings include royalties connected to the Canadian Malartic mine, the Côté Gold mine in Ontario and the Ren portion of the Nevada Gold Mines complex.

Growth outlook supported by operating and development assets Gold Royalty’s 2026 guidance calls for 7,500 to 9,300 gold equivalent ounces, representing a 60% increase at the midpoint compared with 2025 actual production, Przybylowski said. The projected growth is expected to come largely from assets that have already been built or are operating, including the Borborema and Pedra Branca royalties acquired late last year or earlier this year.

By 2030, the company expects to reach about 30,000 gold equivalent ounces annually. Przybylowski said mature operations and brownfield expansions account for 70% of the company’s expected growth, while satellite deposits such as County Line and Ren represent 90% when included.

“We are not looking for any single asset, early-stage company to really drive the growth,” Przybylowski said. “It is coming from assets that are already permitted, already financed, and already built, at least to a first phase of construction.”

She identified South Railroad and Tonopah West as examples in the advanced-development category. South Railroad, previously developed by Orla and now associated with Equinox Gold following its acquisition of Orla, has received permits and begun construction, she said. Tonopah West was generated through Gold Royalty’s Nevada land-staking model and could enter production as early as 2030, according to Przybylowski.

Gold Royalty said it does not provide annual revenue guidance beyond the stated production ranges. However, Przybylowski cited analyst consensus estimates suggesting that annual revenue could reach $120 million to $150 million by 2030 at gold prices of approximately $4,000 to $5,000 per ounce, compared with roughly $25 million currently.

Royalty generation and acquisition discipline The company described four avenues for growth: royalty financing, third-party royalty acquisitions, corporate mergers and acquisitions, and royalty generation. Its royalty-generation strategy involves staking and maintaining mining claims in Nevada, then transferring those claims to operators in exchange for upfront payments and perpetual royalties.

Przybylowski said the model requires no spending on drilling or exploration, while allowing Gold Royalty to benefit if operators later develop the properties. The company said operators across its portfolio are expected to spend several million dollars on exploration and drill more than 500,000 meters this year, activity that could create upside for the company without additional capital commitments from Gold Royalty.

When asked what limits growth, Przybylowski said the main constraint is identifying transactions that are accretive on a per-share basis. Competition for royalty opportunities can be significant, particularly when deals are broadly marketed, she said.

“We want to make sure we are not doing deals just for the sake of doing deals,” Przybylowski said. “We want to make sure they are accretive.”

She said Gold Royalty seeks bilateral or quasi-bilateral transactions where it has existing relationships, while also participating in banker-led processes and generating royalties internally.

Portfolio updates and balance sheet Przybylowski highlighted several assets that have seen changes in ownership or operational progress. Discovery acquired the Porcupine complex from Newmont in 2025 and has increased drilling and exploration activity at Borden, she said. DPM Metals acquired Adriatic Metals and has advanced the Vareš mine, which recently reached commercial production ahead of a previously cited end-of-September target.

At Vareš, Gold Royalty holds its only stream agreement, entitling it to 100% of the copper produced at the primarily silver, lead and zinc operation. The company receives payment for approximately 24% to 25% of copper produced and pays DPM Metals 30% of the copper spot price under the stream agreement, Przybylowski said.

Gold Royalty also expects potential future contributions from Odyssey, the underground portion of Canadian Malartic; Jerritt Canyon; Ren; South Railroad; and Granite Creek. The company said all its royalties are fully paid for, with no additional capital calls or project-cost exposure.

Gold Royalty reported about $200 million of available capital for potential transactions, including $150 million available under an undrawn credit facility. Przybylowski said the company is debt-free and has a positive cash position.

Management’s preference is to deploy capital toward accretive growth, though the board is considering a capital-return policy that could be implemented in early 2027. Potential options include a share repurchase program or a regular dividend, depending on the company’s valuation and share price at that time.

About Gold Royalty (NYSEAMERICAN:GROY)Gold Royalty Corp is a precious metals royalty and streaming company that focuses on acquiring and managing royalty interests in gold, silver and other metal assets. The company provides upfront funding to mining operators in exchange for a percentage of future metal production, offering an alternative financing model that can reduce capital requirements and accelerate development timelines for mining projects.

The firm's diversified portfolio spans royalty and stream agreements across the Americas, with interests in operating mines, development‐stage assets and advanced exploration projects.

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GSK PLC (LSE:GSK, NYSE:GSK) got a grudging nod from Citi on Thursday, as the investment bank lifted its earnings forecasts for the drugmaker but stopped well short of a buy call.

The shares edged up 0.31% to 1,922p as Citi kept its 'neutral' rating, tweaking its model after GSK's Accelerate Growth event and second-quarter results.

At the heart of the update is a £1.9 billion cost-savings drive being funnelled straight back into research and development.

That cash is helping bankroll 20 phase III trials due to launch in 2026, of which Citi has so far written 12 into its numbers.

Those trials, plus the broader economies, should nudge earnings per share 1% to 4% higher between 2027 and 2030.

Some of the savings are also expected to cushion margins when HIV drug dolutegravir loses exclusivity late this decade.

In the same note, Citi flagged that external data on many of the coming trials is still thin, leaving its forecasts on shaky foundations.

Its projected 2% compound annual earnings growth remains the feeblest in the European pharma pack.

Management, the bank warned, must sharpen its execution to win the market round on growth beyond 2031.

Hanging over it all is the Jemperli litigation with AnaptysBio, with a post-trial hearing set for 20 October and a ruling expected by early 2027.

Alibaba Group (BABA +1.26%), which shot to fame and prominence as China's everything-but-the-kitchen-sink e-commerce giant, is in the midst of a long transformation. It's reshaping itself as a leading artificial intelligence (AI) and cloud services provider in the massive Asian country, and, in my view, that's what pushed its U.S.-listed stock up on Thursday.

This, despite a second-quarter earnings report published that morning, in which it missed badly on the bottom line. Here's what happened.

Image source: Alibaba.

A high-cost quarterBefore market open, Alibaba revealed that its revenue for the period was just under 269 billion yuan ($40 billion), representing a gain of 9% year over year. Net income not under generally accepted accounting principles (non-GAAP, or adjusted) veered hard in the other direction, though, tumbling by 38% to 20.7 billion yuan ($3.1 billion). That shakes out to 8.52 yuan ($1.27) per each of the company's American Depositary Shares (ADSes).

Alibaba's revenue more or less met the consensus analyst estimate. That sure wasn't the case for profitability, as pundits tracking the Asian tech giant were modeling 10.72 yuan ($1.59) per ADS, on average.

The company's bottom line was affected by several large items. Chief among these was a ramp-up in capital expenditures; these leaped by 75% to almost 67.7 billion yuan ($10.1 billion). In what's become a global trend, Alibaba has lately invested heavily in AI infrastructure to both support its legacy business and bolster its own AI and cloud offerings.

Profitability also took a hit from an accounting charge Alibaba booked in the quarter for a record fine imposed on it last month. The European Commission -- the executive body of the 27-member European Union (EU) -- slapped the company's international e-commerce business AliExpress with a 550 million euro ($642 million) sanction over violations of the EU's Digital Services Act, which prohibits the dissemination of harmful and illegal online content. This third and largest fine handed down under the still relatively new law occurred in late July.

Such costs weren’t beneficial for the company's free cash flow, which turned negative by almost 44.7 billion yuan ($6.6 billion). In the second quarter of 2025, it was positive at 18.8 billion yuan ($2.8 billion).

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The burden of past gloryAnother factor is the plain fact that Alibaba's legacy domestic e-commerce business looks mature these days. Yes, the company is still very powerful in the sector; however, a sluggish Chinese economy and intense competition are weighing on it. The company's e-commerce operations in the country saw a 8% revenue decline during the quarter, to just under 111 billion yuan ($16.5 billion).

That's probably why management took pains to talk up the performance of the rapidly expanding AI and cloud business. Revenue from these hot areas of the tech world zoomed 45% higher, reminiscent of the days when the company regularly posted such growth numbers. AI and cloud still isn't close to topping e-commerce as the No. 1 contributor to the overall Alibaba top line; it came in at 48.4 billion yuan ($7.2 billion). But if it can exceed, maintain, or even come close to that growth pace in future quarters, it has a good shot at doing so.

I feel that's what tipped sentiment on Alibaba into positive territory on Thursday. Yet the slight bump in ADS price on Thursday indicates optimism of the cautious variety. I think this has to do with Alibaba still being considered very much an online retailer, with much to prove in its embrace of AI and cloud services.

To me, though, 45% growth and a revenue line approaching 50 billion yuan ($7.4 billion) for a single quarter prove this is no young upstart experiencing a one-time pop. Alibaba is a serious player in those technologies and is rapidly becoming a powerhouse in both. Meanwhile, given its prominence and presence in the e-commerce field, I believe that business will slump a bit in the worst-case scenario, but more likely flat-line or eke out a little growth going forward.

The combination of a solid base and a hotly growing, sustainable business will make Alibaba's equity a more compelling buy than the post-earnings reaction suggests, in my opinion.

3 Beauty Stocks Off to an Ugly Start—Can 1 Stage a Comeback?Coty NYSE: COTY said it is shifting its internal focus toward retail sell-out and market-share gains as it works through a fiscal 2027 transition year, following a period in which sell-out trailed the broader beauty category.

Executive Chairman and Interim Chief Executive Officer Markus Strobel said the company historically had been more focused on sell-in, or shipments to retailers, and is now changing incentives to better align with consumer demand at the shelf. Market share and sell-out have become important measures in Coty’s fiscal 2027 bonus systems, he said.

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Rebalancing in 2025: Here Are 3 Stocks to Buy Under $10“Our objective is to drive sell-out and to drive market share,” Strobel said. He said Coty expects first-quarter trends to resemble the past two quarters before improving sequentially, supported by incremental innovation, more disciplined spending and a narrower set of investment priorities.

Strobel said the pace at which Coty can reduce its sell-out gap versus the market represents a key source of potential upside or risk. Faster progress would benefit results, while a slower recovery would require the company to manage accordingly.

Consumer Beauty Changes Begin in U.S., Expand to Europe Estée Lauder undergoes a profit makeover to swoon investors Coty has begun a Consumer Beauty performance-improvement effort called Color the Future, which Strobel described as a consumer-focused version of its Coty.Curated initiative. The program began in the U.S. in January and includes simplifying product lineups, reducing the number of SKUs, concentrating investment behind fewer initiatives and prioritizing stronger innovation.

The initial efforts have focused largely on COVERGIRL and Sally Hansen. Strobel said both brands materially reduced their gap versus the category during the year, while Sally Hansen has begun to grow ahead of the market in value.

He attributed the progress more to equity-building advertising and targeted innovation than increased promotions. COVERGIRL has returned to national television advertising, aimed at Gen X consumers, with investment concentrated behind its Simply Ageless and LashBlast franchises. Sally Hansen has also resumed national advertising in nail care, while its Insta-Dri innovation has received a strong consumer response, Strobel said.

The company expects the actions to support Consumer Beauty profitability over time by reducing returns and obsolescence. Strobel said that selling fewer, faster-moving SKUs should lower excess inventory and the risk of products being returned by U.S. retailers when innovation does not sell through.

Coty plans to extend the approach across Europe. The company has already rolled out initiatives in the U.K. and said Rimmel has shown initial traction there, catching up with the category in the latest month. Strobel said brands including Max Factor, Bourjois and Manhattan will be among the European brands receiving the interventions in coming weeks and months.

On shelf space, Strobel said Coty expects its overall U.S. shelf presence to remain stable during fall resets. The company has “lost a bit” and “gained a bit,” he said, but does not currently see a major risk of shelf-space losses. Coty said a roughly 20% reduction in shelf SKUs is not expected to have a material sales impact, as it seeks to allocate space to products with faster turnover.

Pricing, Promotions and Consumer Beauty Review Strobel said prestige beauty faced significant price competition during the October-to-December holiday season, though that pressure has eased since then. In Consumer Beauty, he said companies are becoming more selective about pricing rather than implementing broad-based increases or reductions.

“That differentiation is, I think, going to help stabilize this pricing and promotion environment a little in the next couple of months,” Strobel said.

Coty is continuing its strategic review of Consumer Beauty and intends to conclude it by the end of calendar 2026. Strobel called that deadline a “very strong aspiration,” while noting the company could take additional time if doing so produced a substantially better outcome.

Although Brazil could be easier to separate because it is “very ring-fenced,” Strobel said Coty is not pursuing simply the easiest path. Instead, it is evaluating the Consumer Beauty business as a whole and seeking the option that creates the most value.

Brazil has returned to growth following what Strobel described as a “wobble” early in the year. He said the market is growing, Coty is growing, and the company expects to regain share in the country.

Gucci Exit, Cost Actions and Fiscal 2028 Goal Looking beyond fiscal 2027, Strobel said Coty is targeting a return to growth for its underlying portfolio excluding Gucci in fiscal 2028. The company is seeking to drive growth through a sharper focus on major global brands such as Burberry and Hugo Boss, as well as through more incremental innovation designed to lift entire brand franchises.

As an example, Strobel pointed to BOSS Bottled Beyond, which he said was among the year’s top two male fragrance launches but did not materially lift the broader Hugo Boss franchise. Coty has since launched BOSS Bottled Beyond for Her, beginning in travel retail, to establish a women’s business that it believes can also create a halo effect for the male franchise.

Coty is also bringing in new brands, including Swarovski and Etro, next year, Strobel said. Travel retail remains an important channel because it can provide prominent displays and brand-building opportunities, in addition to sales. He said Coty’s travel-retail business is growing nicely.

The company also plans a restructuring program to address the future loss of Gucci-related sales and profit. Strobel said the program is expected to cover Coty’s go-to-market setup, manufacturing and distribution network, organizational layers and central functions. He said Coty wants its cost-savings and restructuring actions alone to offset the impact, with portfolio growth providing additional support.

Coty said it was pleased with its agreement with Kering related to Gucci, citing compensation equivalent to a year of profit and cash, funds to support debt reduction, restructuring-related proceeds and a resolution to inventory matters. Strobel said the company expects to provide more details on its restructuring plans in coming months, after considering interdependencies with the Consumer Beauty review.

Outlook and Potential Variables On profitability, Strobel said Coty’s ability to reduce the EBITDA decline seen in the prior two quarters could be influenced by conditions in the Middle East, oil prices, tariff refunds and continuing productivity savings. The company has included $20 million to $30 million of costs in its assumptions for oil prices between $90 and $100, he said, and is also awaiting a potential tariff refund of about $30 million.

In closing remarks, Strobel said Coty had seen improvements during the quarter but was not satisfied with its current performance. The company provided guidance only for the first quarter, while targeting fiscal 2027 EBITDA “above $50” and free cash flow close to fiscal 2026 levels, as stated on the call.

“Our priorities are straightforward: improve sell-out, close the gap to market, strengthen profitability,” Strobel said.

About Coty (NYSE:COTY)Coty Inc is a multinational beauty company specializing in the development, manufacturing and marketing of fragrances, color cosmetics and skin and body care products. Established in 1904 by François Coty in Paris, the company has grown through a blend of organic innovation and strategic acquisitions to become one of the leading players in the global beauty industry. Coty's portfolio encompasses a broad range of consumer and luxury brands, reflecting its commitment to catering to diverse consumer preferences and market segments.

The company's product offerings span three main divisions: Coty Luxury, Coty Consumer Beauty and Coty Professional Beauty.

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Yield Generators: 3 Stocks Enhancing Shareholder ValueDana NYSE: DAN President and CEO Byron Foster said the company’s second-quarter performance reflected continued progress on cost reductions, manufacturing efficiency and portfolio initiatives, while the planned combination with Eaton Mobility is expected to expand its commercial-vehicle and aftermarket presence.

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Speaking at a JPMorgan event, Foster said Dana reported second-quarter sales of just over $2 billion, adjusted EBITDA margin of 10.3% and EBITDA of $207 million. The company generated $19 million in incremental cost savings during the quarter as it advances toward a previously announced $325 million cost-reduction target.

Is Adient’s guidance cut a positive sign for the auto suppliers?Foster said Dana is also addressing stranded costs associated with the planned spin-off of its Off-Highway business. He credited plant productivity projects, automation and product-line profitability efforts for supporting margin improvement over the past 18 months.

Eaton Mobility Combination Dana expects its acquisition of Eaton Mobility to close in the first quarter of 2027. On a pro forma 2026 basis, Foster said the combined company would have approximately $11 billion in revenue and EBITDA margins of about 15%.

The transaction is expected to generate $250 million in annual run-rate synergies by the end of the second year following closing. Dana expects to capture $75 million in the first year, $200 million in the second year and the full $250 million entering the third year, according to the discussion.

Foster said the anticipated synergies include corporate overhead reductions, purchasing gains, manufacturing-footprint opportunities and plant automation. He said Dana has established integration work streams, targets and preliminary action plans that are being refined ahead of closing.

“We are highly confident in the 250 of synergies that we can deliver as part of this combination,” Foster said, adding that the company is pursuing internal goals above that level to provide a cushion if certain initiatives do not produce expected results.

The combination is intended to bring complementary products together across commercial-vehicle driveline, transmission and engine-related systems. Foster said the deal also would provide a better balance between Dana’s light-vehicle and commercial-vehicle operations, add customer diversity and increase purchasing scale.

Dana expects the combined companies to have a $1.7 billion aftermarket business. Foster said Eaton’s existing aftermarket sales presence could help Dana accelerate an expansion that otherwise would have required building additional sales teams organically.

Capital Returns and Dana 2030 Dana has resumed share repurchases and plans to buy back roughly $200 million of stock between now and the end of the calendar year, continuing through the transaction’s closing period in the first quarter of 2027. Foster said the repurchases support Dana’s objective of completing $2 billion in buybacks by the end of 2029.

The company is also examining whether it can restart repurchases after the Eaton transaction closes. Foster said the key issue is whether a post-closing buyback could create an unintended tax event for either Dana or Eaton shareholders, rather than a negotiation between the companies.

Dana’s standalone Dana 2030 plan targets $10 billion in revenue and margins in the range of 14% before the Eaton transaction. Foster said roughly $1 billion of the revenue needed to reach that target remains to be captured, primarily through aftermarket growth and Applied Technologies initiatives, while the remainder is supported by backlog, high-confidence programs and expected commercial-vehicle market improvement.

2027 Growth Drivers Looking toward 2027, Foster said Dana expects commercial-vehicle markets to continue improving, although its exposure includes medium-duty trucks, buses and South America in addition to North American Class 8 production. He said those markets are not moving at the same pace as headline Class 8 trends.

On the light-vehicle side, Dana expects higher Ford Super Duty volumes and several new vehicle launches to contribute in 2027. Foster said the Super Duty expansion requires relatively limited incremental capital compared with a new program launch and should carry favorable contribution margins.

The company also expects opportunities in defense, powersports and aftermarket to gain momentum. Foster said demand for defense products has increased and that some defense programs can move from development to production faster than traditional original-equipment programs because they use existing technologies adapted for defense applications.

He said Dana is working on a major defense program that could receive a production order toward the end of the year, with production potentially beginning in late 2027 or early 2028. Foster estimated defense could represent a three-digit-million-dollar opportunity within Dana’s $400 million Applied Technologies target, compared with roughly 40% of that target today.

In aftermarket, Dana is expanding its Victor Reinz sealing products with national retail customers in North America. Foster said customer demand is ahead of the company’s current distribution capacity, and Dana is developing capacity and distribution-center solutions expected to come online next year.

Automation, Thermal Opportunities and Supply Chain Foster said automation remains a major Dana 2030 work stream, with projects underway across multiple plants. Initial efforts include automating repetitive loading, unloading and material-handling tasks, as well as deploying autonomous mobile robots. The company is primarily rolling out these initiatives in North America and beginning work in Europe.

Dana also sees potential to apply its automotive thermal-management technologies to data centers and other applications. Foster said the company’s fluxless brazing technology for battery cooling plates may offer differentiated solutions, though he described the effort as early-stage. Dana estimates the potential data-center thermal market at about $2 billion and expects to better frame its opportunity by the second half of the year or the first quarters of next year.

Finally, Foster said Dana continues to evaluate its global manufacturing footprint as tariff policies and potential U.S.-Mexico-Canada Agreement rule changes evolve. He said the company has worked with customers on tariff and supply-chain management, including a recently highlighted Ford award tied to collaboration on tariff-related issues.

About Dana (NYSE:DAN)Dana Incorporated is a global leader in the design and manufacture of drivetrain, sealing, and thermal-management technologies for the automotive, commercial vehicle, off-highway and industrial markets. The company's product portfolio includes axles, driveshafts, transmissions, e-Propulsion systems and thermal-management assemblies that help improve fuel efficiency, reduce emissions and enhance vehicle performance. Dana's expertise spans internal combustion and electrified powertrains, positioning it to support both traditional and next-generation mobility solutions.

Founded in 1904 by Clarence W.

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Nebius Group (NBIS -1.69%) has been an incredible stock to own in 2026. It has risen by more than 220% year to date, and has recovered nearly all of the losses it sustained during July's tech-sector sell-off. Its rise recently has been swift, including a jump of more than 40% in the past few weeks.

The catalyst for that growth? Its second-quarter report. Nebius knocked it out of the park with its results, and management assured investors that its impressive growth rate will likely continue into the near future. And despite its recent rally, there's still plenty of room for the stock to run.

Image source: The Motley Fool.

Nebius's growth rate is among the fastest in the market Nebius operates a neocloud business, which means that it's focused on providing AI-first cloud computing services. The hyperscalers that lead the cloud infrastructure sector have booked a significant backlog of business, and they're trying to get their hands on as much computing power as possible to meet those obligations and turn backlogs into revenues. Some of Nebius's biggest clients are companies that are spending big to build computing infrastructure themselves.

Nebius is rapidly expanding its data center footprint, and has brought several new facilities online throughout 2026. This has led to tremendous growth. In Q2, its revenue rose by 454% year over year, and the rapid growth is not expected to dissipate anytime soon.

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Wall Street expects 446% growth in the third quarter and 526% in the fourth.  In 2027, analysts expect 250% growth. By the end of next year, the business will have transformed massively from where it was at the end of 2025.

With big revenue growth still to come, I'm confident that Nebius's stock can continue to do well in the future. It will be hard for most rivals to replicate this kind of growth.

The only red flag I see is Nebius' spending. It's pouring every penny it can get its hands on into its capital expense budget, and it isn't producing any profits. This shouldn't come as a surprise to investors, as Nebius wants to capture market share while it can, but it will eventually have to flip its focus from top-line growth to turning a profit. That won't be easy, and could lead to some headaches for investors when it occurs. But given that the AI build-out doesn't look like it will slow down anytime soon, it may be years before investors start wanting Nebius to shift gears and prove that it can operate its data centers profitably.

There is plenty more upside ahead for Nebius, but investors should still keep an eye on its profitability and where it's trending as the AI build-out phase matures.

Alibaba Group Holding Limited (BABA) Q1 2027 Earnings Call August 20, 2026 7:30 AM EDT

Company Participants

Lydia Lu - Head of Investor Relations
Yongming Wu - CEO, Head of Core E-Commerce Business & Director
Toby Xu - Chief Financial Officer

Conference Call Participants

Alicis a Yap - Citigroup Inc., Research Division
Charlene Liu - HSBC Global Investment Research
Yang Bai - China International Capital Corporation Limited, Research Division
Yuan Liao - Citic Securities Co., Ltd., Research Division
Alex Yao - JPMorgan Chase & Co, Research Division

Presentation

Operator

Good day, ladies and gentlemen. Thank you for standing by. Welcome to Alibaba Group's June Quarter 2026 Results Conference Call. [Operator Instructions].

I would now like to turn the call over to Lydia Lu, Head of Investor Relations of Alibaba Group. Please go ahead.

Lydia Lu
Head of Investor Relations

Thank you. Good day, everyone, and welcome to Alibaba Group's June Quarter 2026 Earnings Conference Call. Joining the call today are Joe Tsai, Chairman; Eddie Wu, Chief Executive Officer; Toby Xu, Chief Financial Officer; Jiang Fan, Chief Executive Officer of Alibaba E-commerce Business Group.

Before we get started, I would like to remind you that today's discussion may contain forward-looking statements based on management's current expectations that are subject to risks and uncertainties. We also make reference to non-GAAP financial measures. Reconciliations between GAAP and non-GAAP measures are included in today's earnings press release and investor presentation. Our comments will be on year-over-year comparisons unless we state otherwise. A replay of the call will be available on our website later today.

With that, I would like to turn the call over to Eddie.

Yongming Wu
CEO, Head of Core E-Commerce Business & Director

Good evening, good morning, and welcome to Alibaba Group's Earnings Call for the First Quarter of Fiscal Year 2027. Over the past quarter, Alibaba's strategic AI

Starbucks is laying off over 200 corporate workers as it moves forward with the turnaround strategy that it began two years ago under CEO Brian Niccol.

The coffee giant on Thursday published a layoff notice under the WARN Act, clarifying plans to cut over 200 corporate roles after it previously disclosed plans to reduce the corporate workforce by about 300 jobs.

The WARN filing indicated that about 120 of the employee separations are associated with workers from its support team focused on designing and developing coffeehouses who declined the opportunity to relocate from Seattle, Washington, to Nashville, Tennessee.

Additionally, about 104 cuts are organizational changes resulting from restructuring plans detailed in May.

STARBUCKS' TURNAROUND PLAN SHOWS PROMISE IN US AS SALES GROWTH RETURNS FOR FIRST TIME IN 2 YEARS

Starbucks submitted a filing with details about over 200 job cuts. (Mostafa Bassim/Anadolu via Getty Images)

The expected date of the first separations will be Oct. 19, 2026, with all completed by Nov. 1, 2026.

Starbucks indicated the organizational changes aren't altering the company's coffeehouse strategy, and it is moving forward with its "third place experience" of uplifting coffeehouses and expanding and developing its portfolio.

The filing represents the last component of Starbucks' remaining organizational changes from the restructuring announced in May so that it can focus on improving the experience at its coffeehouses and those of its employee partners and customers, according to the company.

STARBUCKS TO CLOSE STORES, CUT JOBS AS PART OF TURNAROUND STRATEGY

Ticker Security Last Change Change % SBUX STARBUCKS CORP. 103.99 -0.99 -0.94% The company is building a new regional corporate office in Nashville that comes with a price tag of $100 million and will house about 2,000 employees, though it is keeping its headquarters in Seattle.

After Niccol took the helm at Starbucks in September 2024, becoming the company's third CEO in a two-year period, he put the company on a turnaround plan to spur more business in coffeehouses.

STARBUCKS CEO SAYS COFFEE CHAIN IS 'AHEAD OF SCHEDULE' IN MAJOR TURNAROUND EFFORT AFTER ONE YEAR

Starbucks CEO Brian Niccol is pursuing a turnaround strategy at the coffee giant. (Eugene Gologursky/Getty Images for Fast Company)

The plan has featured efforts to redesign interiors to encourage customers to linger, along with "personal touches," like writing names on cups and serving drinks in mugs.

It's also working to ensure proper staffing at stores, streamlining mobile orders, letting customers handle their own condiments and committing to having all drinks ready in four minutes or less.

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Last year, Starbucks moved to close some underperforming stores and cut 900 non-retail partner roles, while also freezing many open positions as it restructured.

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Micron CEO Sanjay Mehrotra said on Thursday artificial intelligence has fundamentally changed the memory business, an industry prone to boom-and-bust cycles.

“Today there is no AI without memory. AI systems need more memory. They need higher performance memory. They need lower power memory,” Mehrotra told Jim Cramer on “Mad Money.” “So, the value of memory, that equation has totally changed.”

His comments came in the shadow of a massive semiconductor fabrication site under construction near Micron’s headquarters in Boise, Idaho, part of the company’s planned $250 billion investment in U.S. manufacturing and research. The Boise site alone will eventually include two fabs, each roughly the size of 10 football fields; a single fab will have enough steel rebar to circle Earth twice, according to Mehrotra. The first Boise fab is expected to begin producing wafers in mid-2027. The scale of that investment reflects how dramatically Mehrotra thinks AI has altered the outlook for memory.

Memory has historically been a cyclical business, with periods of strong demand encouraging manufacturers to add capacity, only for excess supply to eventually drive down prices. However, Mehrotra — an engineer by trade who’s worked in the chip industry for over 40 years and previously co-founded SanDisk — said AI is creating a more durable source of demand.

The opportunity extends beyond data centers, he said. Mehrotra said he expects autonomous vehicles, robots, and AI-enabled consumer devices to require increasingly large amounts of memory in the years ahead.

“Memory today is essential,” Mehrotra said. “That’s why I call it the strategic infrastructure of the AI era.”

That demand is also changing the value customers place on memory, according to Mehrotra. Instead of customers simply soliciting bids and buying from whichever supplier offers the lowest price, he said memory must increasingly be designed alongside the processors and systems in which it will operate. Mehrotra said that makes memory essential to the performance of the broader system rather than simply another component.

“We are working closely with them earlier and earlier in their development cycle,” he said. “Our customers recognize the value of memory, because memory is what is enabling them to design products that are driving growth engines for them.”

He said Micron still can’t produce enough to satisfy that demand.

“All our customers across our end markets will buy everything that we make,” Mehrotra said, adding that data-center customers currently want roughly 50% more supply than Micron is able to commit.

The memory maker is gaining greater visibility into that demand through long-term customer agreements, another important shift for a business historically exposed to swings in the spot market. During the company’s most recent earnings call in late June, Micron announced that it had signed five-year strategic agreements with 16 customers. Mehrotra said the company has since inked additional deals.

“They have committed to taking the supply,” Mehrotra said. “So, this gives us assurance of demand.”

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