Track market-moving stories before they get noisy

RTX heads into Q2 earnings with forecasts for revenue and EPS growth, backed by aerospace demand, defense momentum and a strong backlog.

Morgan Stanley (MS - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Shares of this investment bank have returned -7.1% over the past month versus the Zacks S&P 500 composite's -0.6% change. The Zacks Financial - Investment Bank industry, to which Morgan Stanley belongs, has gained 1.4% over this period. Now the key question is: Where could the stock be headed in the near term?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Morgan Stanley is expected to post earnings of $3.00 per share, indicating a change of +7.1% from the year-ago quarter. The Zacks Consensus Estimate has changed +6.4% over the last 30 days.

The consensus earnings estimate of $12.68 for the current fiscal year indicates a year-over-year change of +24.2%. This estimate has changed +6.6% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $12.93 indicates a change of +1.9% from what Morgan Stanley is expected to report a year ago. Over the past month, the estimate has changed +3.4%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Morgan Stanley.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Morgan Stanley, the consensus sales estimate of $19.7 billion for the current quarter points to a year-over-year change of +8.1%. The $80.85 billion and $83.67 billion estimates for the current and next fiscal years indicate changes of +14.4% and +3.5%, respectively.

Last Reported Results and Surprise HistoryMorgan Stanley reported revenues of $21.35 billion in the last reported quarter, representing a year-over-year change of +27.1%. EPS of $3.46 for the same period compares with $2.13 a year ago.

Compared to the Zacks Consensus Estimate of $19.6 billion, the reported revenues represent a surprise of +8.9%. The EPS surprise was +19.72%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Morgan Stanley is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Morgan Stanley. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.

, /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Intuit Inc. (NASDAQ: INTU).

Shareholders who purchased shares of INTU during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/intuit-inc-loss-submission-form/?id=194988&from=4

CLASS PERIOD: August 22, 2025 to May 20, 2026

ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) they had overstated Intuit's competitive advantages and growth, as well as the overall strength and sustainability of its business model and operations; (ii) in reality, Intuit was losing significant business in its tax-related business, particularly in its Turbo Tax business, as a result of, inter alia, increasing competitive and pricing pressures; (iii) accordingly, Intuit's previously issued FY 2026 TurboTax revenue growth guidance was unreliable and/or unrealistic; and (iv) as a result, defendants' public statements were materially false and misleading at all relevant times.

DEADLINE: September 8, 2026 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/intuit-inc-loss-submission-form/?id=194988&from=4

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of INTU during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is September 8, 2026. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903

SOURCE The Gross Law Firm

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Intuit (INTU - Free Report) Headquartered in Mountain View, CA, Intuit Inc. is a business and financial software company that develops and sells financial, accounting and tax preparation software and related services for small businesses, consumers and accounting professionals globally. The company has offices in the United States, Canada, India and the U.K.

INTU is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. INTU has a Growth Style Score of A, forecasting year-over-year earnings growth of 18.4% for the current fiscal year.

For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.30 to $23.86 per share. INTU boasts an average earnings surprise of +6.9%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, INTU should be on investors' short list.

, /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with losses related to Intuit Inc. ("Intuit" or the "Company") (NASDAQ:INTU) have opportunity to lead the securities fraud class action lawsuit.

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN INTUIT INC. (INTU), CLICK HERE BEFORE SEPTEMBER 8, 2026 (THE LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

 
What Is The Lawsuit About?
The complaint filed alleges that, between August 22, 2025 and May 20, 2026, Defendants failed to disclose to investors that: (1) they had overstated Intuit's competitive advantages and growth, as well as the overall strength and sustainability of its business model and operations; (2) in reality, Intuit was losing significant business in its tax-related business, particularly in its Turbo Tax business, as a result of, inter alia, increasing competitive and pricing pressures; (3) accordingly, Intuit's previously issued FY 2026 TurboTax revenue growth guidance was unreliable and/or unrealistic; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
 

Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.
The Law Offices of Frank R. Cruz, 
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at: www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

SOURCE The Law Offices of Frank R. Cruz, Los Angeles

From Avago’s IPO to an AI Superpower When Broadcom (NASDAQ:AVGO | AVGO Price Prediction) reports numbers, the story is really about Hock Tan. He took the top job at Avago Technologies in March 2006, three years before the company went public on August 6, 2009. Public investors could not buy in until that IPO, so that is where our clock starts.

Tan’s playbook has been ruthless capital allocation and serial acquisition. Avago swallowed LSI, then bought Broadcom in 2016 and took its name, then absorbed CA Technologies, Symantec’s enterprise unit, and finally VMware in 2023. That last deal reshaped the company into a semiconductor-plus-infrastructure-software hybrid just as the AI capex cycle detonated.

The AI franchise is now the engine. Q2 FY2026 revenue hit $22.19 billion, up 47.9% year over year, with AI semiconductor revenue of $10.8 billion, up 143% year over year. Tan told investors on the call that “2027 will exceed, very easily, $100 billion” in AI revenue.

A $10,000 Stake Turned Into a Different Life Here is how a $10,000 investment would have performed through July 20, 2026, using split- and dividend-adjusted prices.

Broadcom S&P 500 1-Year Return $13,444 (34.44%) $11,825 (18.25%) 5-Year Return $86,718 (767.18%) $17,077 (70.77%) 10-Year Return $304,714 (2,947.14%) $34,160 (241.60%) Since IPO $3,283,433 (32,734.33%) $74,291 (642.91%) Broadcom crushed the S&P 500 across every horizon, and the IPO-to-today number puts Tan’s tenure among the great value creation runs of the era. Holders did have to sit through brutal drawdowns, including the 2022 semi correction and a recent slide from a 52-week high of $495.00 to $378.16. Timing mattered less than staying put.

Leadership Grade and Succession Tan’s execution as Broadcom chief executive is widely regarded by Wall Street as one of the most successful operational run-ups in semiconductor history. During his tenure, the company evolved from a modest $5 billion enterprise into a $1.5 trillion global infrastructure powerhouse. For that, Tan earns an A. The primary caveat lies in customer and employee satisfaction during his tenure.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn't make the cut. Grab the names FREE today.

Because Tan is in his mid-70s and has a unique, hands-on operational style, CEO succession is one of the top long-term focus areas for Broadcom’s board of directors. Tan has a multi-year performance stock unit package designed to retain his leadership through fiscal 2030. Leading internal candidates to take up the reins include Charlie Kawwas, president of the Semiconductor Solutions Group, and CFO Kirsten Spears.

Looking Forward The case for investing in Broadcom today rests on whether investors believe Tan’s $100 billion-plus AI revenue target for 2027 is directionally right and hyperscaler capex holds. Bookings support it: Q2 alone brought in over $30 billion of AI orders, and hyperscalers including Google, Meta, OpenAI, and Anthropic are locked into multi-gigawatt commitments. Plus, analysts are bullish and have a price target that suggests 38.7% upside.

The risk is that custom silicon demand is being pulled forward and a digestion phase hits in 2027. At 61 trailing P/E and 20x forward, the stock is not cheap, and customer concentration among a handful of hyperscalers is a real single-point-of-failure risk.

The setup is expensive, but the earnings power is scaling faster than the multiple.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

Right now, the twin forces of the artificial intelligence (AI) build-out and relentless demand for connectivity are lifting some of the strongest names in technology and telecom. Here are five compelling stocks worth buying more of, starting with the one everyone is watching.

Image source: Getty Images.

Broadcom (AVGO +2.22%) has quietly become one of the most important companies in AI. It designs the custom chips that giants, including Alphabet (GOOG 0.72%) (GOOGL 0.77%) and Meta Platforms, use to run their own AI systems, and it dominates the networking gear that ties thousands of those chips together inside a data center. On top of that, its infrastructure software business, anchored by VMware, throws off steady, high-margin revenue that cushions the more cyclical chip side. With a massive AI order backlog and a clear path toward much larger AI sales, Broadcom pairs explosive growth with a diversified base most chipmakers lack.

Today's Change

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2.22

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8.39

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$

386.55

2. Taiwan Semiconductor Manufacturing Taiwan Semiconductor Manufacturing (TSM +4.69%) is the company that builds the world's most advanced chips, including those designed by Broadcom and Nvidia. Its management recently called AI demand "extremely robust" and raised its growth outlook, while pouring another $100 billion into its Arizona campus and ramping its cutting-edge 2-nanometer technology. Because nearly every leading chip company depends on its factories, Taiwan Semiconductor sits at an irreplaceable chokepoint in the AI economy. That is about as wide a moat as you will find.

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4.69

%) $

18.88

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$

421.18

3. Alphabet Alphabet combines the cash machine of Google Search with a fast-growing cloud business and its own leading AI models. The company is investing enormous sums, including a plan to raise tens of billions to fund its AI infrastructure, and it is weaving AI across its products rather than being disrupted by it. Notably, Berkshire Hathaway built a large stake in Alphabet, a vote of confidence from the most famous value investor's company that this is a wonderful business at a fair price.

Today's Change

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-0.77

%) $

-2.70

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$

349.29

4. T-Mobile T-Mobile (TMUS 2.23%) is the growth story in telecom. It keeps stealing customers from rivals, and its real momentum now is in home internet, where it added more than 500,000 broadband connections in a single recent quarter. It's also expanding into fiber through new joint ventures, giving it a second broadband engine, and it raised its multiyear growth targets on the strength of its network lead. For a telecom, that's an unusually dynamic growth profile.

5. Verizon Verizon Communications (VZ 0.44%) offers the steadier, income-focused counterpart. It just closed its acquisition of Frontier, which dramatically expanded its fiber footprint to more than 30 million homes and businesses, and it's leaning into bundling fiber with wireless to defend its customer base. The appeal here is different from the others: a hefty dividend and a defensive business, which makes Verizon a nice ballast alongside the higher-octane AI names on this list.

Adding to winners is not risk-free. The AI-linked names, especially Broadcom, Taiwan Semiconductor, and Alphabet, trade at elevated valuations and are exposed to the ups and downs of the semiconductor cycle, so a slowdown in AI spending would sting. Taiwan Semiconductor also carries geopolitical risk given its home base. On the telecom side, Verizon carries significant debt, and both carriers operate in a fiercely competitive, capital-hungry industry. Buying more works best when you already believe in the long-term story.

I think each ticker is executing well enough to justify adding to a position, provided you match the picks to your goals: tech names for growth, telecoms for a blend of growth and income. As always, buy gradually and let the businesses, not the headlines, prove the thesis.

Micah Zimmerman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Berkshire Hathaway, Broadcom, Meta Platforms, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends T-Mobile US and Verizon Communications. The Motley Fool has a disclosure policy.

Key Takeaways Schwab's adjusted Q2 earnings rose 42% to $1.62 per share, beating the $1.53 estimate.Record revenues climbed 21% to $7.07 billion on higher NIR, trading and asset management fees.Client assets hit $13.08 trillion, while expenses rose 12% and shares fell more than 3%. Charles Schwab’s (SCHW - Free Report)  second-quarter 2026 adjusted earnings of $1.62 per share outpaced the Zacks Consensus Estimate of $1.53. The bottom line soared 42% year over year.

Shares of the company lost more than 1.5% in pre-market trading despite posting better-than-expected results on the solid market volatility, rising client engagement and record asset growth.

Quarterly results benefited from the robust performance of the asset management business and record trading revenues. Higher net interest revenues (NIR) and solid brokerage account numbers were other positives. However, an increase in expenses was the undermining factor.

Results excluded transaction-related costs. After considering these, net income (GAAP basis) was $2.8 billion or $1.54 per share, up from $2.13 billion or $1.08 per share in the year-ago quarter.

SCHW’s Revenues at Record Level, Expenses RiseQuarterly net revenues were a record $7.07 billion, jumping 21% year over year. The increase was driven by higher NIR (up 19%), trading revenue (28%), bank deposit account fees (35%) and asset management and administration fees (16%). The top line easily surpassed the Zacks Consensus Estimate of $6.89 billion.

Total non-interest expenses (GAAP basis) increased 12% to $3.4 billion. Excluding non-recurring items, adjusted total expenses were $3.23 billion, up 11% year over year.

The pre-tax profit margin (adjusted) increased to 54.3% from 50.1% in the prior-year quarter.

At the end of the second quarter, Schwab’s average interest-earning assets rose 5% to $445 billion.

As of June 30, 2026, the annualized return on equity was 25%, up from 19% in the prior-year quarter.

Schwab’s Other Business MetricsAs of June 30, 2026, Schwab’s total client assets reached a record $13.08 trillion (up 22% year over year). During the reported quarter, net new assets brought by new and existing clients were $118.7 billion.

Schwab added 1.4 million new brokerage accounts during the quarter. As of June 30, 2026, the company had 39.8 million active brokerage accounts, 2.4 million banking accounts and 5.9 million corporate retirement plan participants.

Schwab’s Share Repurchase UpdateDuring the reported quarter, Schwab repurchased 11.2 million shares for $1 billion.

Our Take on SchwabA steady decline in funding costs and relatively lower rates will support Schwab’s margins. Strategic acquisitions, a rise in advice solution fees and sustainable capital distributions are other major positives. Rising expenses and near-term macroeconomic turmoil are headwinds.
 

Currently, Schwab carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Earnings Dates & Expectations of Schwab's PeersHere are some of Schwab’s peers that are yet to come out with quarterly numbers.

Robinhood (HOOD - Free Report) is slated to announce second-quarter 2026 numbers on July 29.

In the past week, the Zacks Consensus Estimate for Robinhood’s quarterly earnings has moved 2.5% lower to 39 cents. This implies a 7.1% decrease from the prior-year reported number.

LPL Financial (LPLA - Free Report) is scheduled to announce quarterly numbers on July 30.

In the past seven days, the Zacks Consensus Estimate for LPL Financial’s quarterly earnings has remained unchanged at $5.39. This indicates a 19.5% jump from the prior-year reported number.

The Charles Schwab Corporation (SCHW) Q2 2026 Earnings Call July 21, 2026 8:30 AM EDT

Company Participants

Jeff Edwards - MD & Head of Investor Relations
Richard Wurster - CEO, President & Director
Michael Verdeschi - MD & Chief Financial Officer

Conference Call Participants

Daniel Fannon - Jefferies LLC, Research Division
Patrick Moley - Piper Sandler & Co., Research Division
Devin Ryan - Citizens JMP Securities, LLC, Research Division
William Katz - TD Cowen, Research Division
Alexander Blostein - Goldman Sachs Group, Inc., Research Division
Steven Chubak - Wolfe Research, LLC
Kenneth Worthington - JPMorgan Chase & Co, Research Division
Brian Bedell - Deutsche Bank AG, Research Division
Michael Cyprys - Morgan Stanley, Research Division
Benjamin Budish - Barclays Bank PLC, Research Division
Christopher Allen - Keefe, Bruyette, & Woods, Inc., Research Division
Michael Brown - UBS Investment Bank, Research Division

Presentation

Jeff Edwards
MD & Head of Investor Relations

Good morning, everyone, and welcome to Schwab's 2026 Summer Business Update. This is Jeff Edwards, and I'm joined this morning by our President and CEO, Rick Wurster as well as our CFO, Mike Verdeschi. Hopefully, you all had an opportunity to review our second quarter earnings release that crossed the wire earlier today. Similar to [ Waha ] on the pitch this past Sunday, I don't think it is a stretch to frame Schwab's strong results as trophy worthy. Slides for today's business update will be posted to the IR website at the conclusion of today's prepared remarks.

[Operator Instructions]

Lastly, [indiscernible] in every deck, the forward-looking statements page, reminding us all that outcomes may differ from expectations, so please stay up-to-date with our disclosures.

And with that, I'll turn it over to Rick.

Richard Wurster
CEO, President & Director

Thank you, Jeff, and good morning. Thank you for joining our summer business update. We'll spend our time this morning sharing details on our record performance. Diving

The market expects Illinois Tool Works (ITW - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on July 28, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis equipment manufacturer for the transportation, power, food and construction industries is expected to post quarterly earnings of $2.80 per share in its upcoming report, which represents a year-over-year change of +8.5%.

Revenues are expected to be $4.18 billion, up 3.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.38% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Illinois Tool Works?For Illinois Tool Works, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.31%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Illinois Tool Works will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Illinois Tool Works would post earnings of $2.55 per share when it actually produced earnings of $2.66, delivering a surprise of +4.31%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Illinois Tool Works appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAnother stock from the Zacks Manufacturing - General Industrial industry, Illinois Tool Works (ITW - Free Report) , is soon expected to post earnings of $2.8 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +8.5%. Revenues for the quarter are expected to be $4.18 billion, up 3.2% from the year-ago quarter.

The consensus EPS estimate for Illinois Tool Works has been revised 0.4% lower over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +0.31%.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Illinois Tool Works will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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Coinbase (NASDAQ:COIN | COIN Price Prediction) stock is surging 11% to $178, Strategy (NASDAQ:MSTR) (formerly Microstrategy) shares are up 5% to $103, and Hut 8 (NASDAQ:HUT) stock is gaining 5% to $106 as crypto-linked names catch a broad bid on Tuesday. Price gains in Bitcoin (CRYPTO:BTC) are undoubtedly providing a tailwind, with the world’s most famous cryptocurrency rising 4% over the past 24 hours to $66,808. Along with that, the iShares Bitcoin Trust ETF (NASDAQ:IBIT) is up 3% to $38.

These notable moves have a few different drivers, but the biggest one looks like a friendlier U.S. policy backdrop as the Clarity Act vote gets closer. At the same time, the latest price action shows that traders still want the names with the cleanest leverage to Bitcoin and the most visible company-specific catalysts.

Coinbase Gets the Biggest Lift Coinbase is the clearest beneficiary of the regulatory setup, since the stock tends to move hard when traders think Washington may give the crypto industry more room to grow. Traders are monitoring bullish social-media chatter, institutional accumulation, and a growing divide between breakout believers and skeptics who still worry about Coinbase’s long-term growth profile.

The bull case for Coinbase is straightforward: stronger crypto prices can lift trading activity, and clearer rules could support higher conviction around the platform’s business model. The bear case is just as familiar, since Coinbase stock still has to prove that improved sentiment can turn into durable revenue growth rather than just another sharp rally.

Strategy Stock Still Tracks Bitcoin Strategy shares are moving with Bitcoin, but Strategy also carries an added capital-markets story that keeps the stock in focus even when crypto is quiet. Recent reporting also points to Strategy selling company shares to boost its cash reserve, which reinforces that Strategy co-founder Michael Saylor’s firm is still leaning on equity and preferred issuance to support its broader Bitcoin strategy.

That can work in a strong crypto tape, and Strategy stock often behaves like a leveraged version of Bitcoin when traders are chasing upside. However, the same setup can cut the other way if Bitcoin stalls, because Strategy’s equity story depends on confidence that the company can keep funding its balance sheet while the crypto cycle stays favorable.

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Hut 8 Adds an AI Angle Hut 8 has another catalyst besides Bitcoin, and that’s helping HUT stock stand out in today’s rally. Recent reports indicated that Hut 8’s Beacon Point is now fully commercialized and carrying long-dated AI lease potential, which gives Hut 8 a more diversified growth narrative than a pure mining play.

That matters because Hut 8 is no longer just a directional Bitcoin trade. Hut 8 still has cryptocurrency exposure, but the market is also starting to price in infrastructure value tied to AI data center demand, which could keep interest elevated if the Beacon Point story continues to build.

What to Watch Now The next key test is whether the Clarity Act vote stays on track and whether Bitcoin can hold its gains in the coming days. Coinbase stock, Strategy stock, and Hut 8 stock could stay in the fast lane if crypto sentiment stays hot, but all three names can also reverse quickly if the policy tone softens or Bitcoin gives back today’s move.

For more direct exposure to moves in the Bitcoin price, the IBIT ETF gives investors a cleaner read on broad Bitcoin appetite. Meanwhile, Coinbase and Strategy shares offer more operating leverage and Hut 8 adds a second, AI-linked theme. The takeaway is simple: the crypto-theme setup looks constructive, but these are still volatile stocks, so modest position sizes could make sense while the catalysts play out.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Coinbase didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

Skyworks Solutions (SWKS - Free Report) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report, which is expected to be released on July 28, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis chipmaker is expected to post quarterly earnings of $1.03 per share in its upcoming report, which represents a year-over-year change of -22.6%.

Revenues are expected to be $922.08 million, down 4.5% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.38% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Skyworks?For Skyworks, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.12%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Skyworks will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Skyworks would post earnings of $1.04 per share when it actually produced earnings of $1.15, delivering a surprise of +10.58%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Skyworks appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

LOS ANGELES, July 21, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Roblox Corporation, (“Roblox” or the "Company") (NYSE: RBLX) investors of a class action on behalf of investors that bought securities between October 30, 2025 and April 30, 2026, inclusive (the “Class Period”). Roblox investors have until August 7, 2026 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or join the case via https://portnoylaw.com/roblox-corporation. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Roblox’s organic growth potential; notably, that Roblox would see a significant slowdown in its growth rates as enrollment in the age verification rollout would quickly taper, compounding the resulting slowdown in on-platform communication, resulting in app store rating reductions and a swift reduction in organic growth. When the true details entered the market, the lawsuit claims that investors suffered damages.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
[email protected]
310-692-8883
www.portnoylaw.com 

Attorney Advertising

S&P Global (SPGI - Free Report) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report, which is expected to be released on July 28, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis independent ratings and analytics provider is expected to post quarterly earnings of $4.44 per share in its upcoming report, which represents a year-over-year change of +0.2%.

Revenues are expected to be $3.65 billion, down 2.8% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 6.54% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for S&P Global?For S&P Global, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #5.

So, this combination makes it difficult to conclusively predict that S&P Global will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that S&P Global would post earnings of $4.82 per share when it actually produced earnings of $4.97, delivering a surprise of +3.11%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

S&P Global doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAmong the stocks in the Zacks Securities and Exchanges industry, Nasdaq (NDAQ - Free Report) , is soon expected to post earnings of $0.98 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +15.3%. This quarter's revenue is expected to be $1.44 billion, up 10.6% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Nasdaq has been revised 1.6% up to the current level. Nevertheless, the company now has an Earnings ESP of +0.14%, reflecting a higher Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Nasdaq will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

3 Dividend Stocks Under $50 That Pay You to Wait Out InflationAGNC Investment NASDAQ: AGNC reported a positive second quarter despite what executives described as a difficult backdrop for fixed income markets, with geopolitical tensions and shifting monetary policy expectations weighing on investor sentiment.

Peter Federico, AGNC’s President, Chief Executive Officer and Chief Investment Officer, said escalating rhetoric and hostilities between the United States and Iran “largely dictated financial market performance” during the quarter. He cited constrained ship traffic through the Strait of Hormuz, elevated energy prices and supply chain disruptions as key macroeconomic concerns that contributed to higher Treasury yields, a flatter yield curve and a market shift from expecting rate cuts to pricing in possible rate hikes by year-end.

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3 Ultra-High Dividend Yield Stocks for the New YearAgainst that backdrop, Federico said AGNC generated a 6.7% economic return for the quarter, supported by its monthly dividend and an increase in tangible book value per common share. He also highlighted that the company’s monthly common stock dividend paid at the beginning of the month marked its 75th consecutive monthly payment of $0.12 per share.

Book Value Gains Driven by Agency MBS Performance Federico said the improvement in tangible book value was driven by solid performance in agency mortgage-backed securities, which delivered a positive excess return relative to U.S. Treasuries for the fifth consecutive quarter. He called that track record “unusual and particularly noteworthy” given the similar credit quality of agency MBS and Treasuries.

6 Mortgage REITS: How Badly Could Rising Rates Hurt Them?According to Federico, the catalyst for agency MBS performance was an improving technical backdrop. He said elevated mortgage rates have reduced expected net new supply of agency MBS to about $150 billion for the year, materially below estimates from the beginning of the year. Higher mortgage rates have also slowed prepayment speeds, which is expected to reduce runoff from the Federal Reserve’s mortgage portfolio.

Demand, meanwhile, has remained strong. Federico said bond fund inflows totaled more than $400 billion through the first six months of the year and were running at about twice last year’s pace. He added that banks, foreign investors and REITs are also expected to remain net purchasers of agency MBS over the remainder of the year.

Federico contrasted the valuation of agency MBS with corporate bonds, noting that corporate bonds were the best-performing fixed income sector in the second quarter. He said investment-grade and high-yield corporate spreads ended the quarter near historically tight levels, even as 2026 corporate issuance is expected to exceed $1.1 trillion, which he said would make it the largest corporate debt issuance year ever. Agency MBS spreads, by comparison, “have moved little this year and continue to be wide by historical standards,” he said.

Financial Results and Capital Activity Bernice Bell, AGNC’s Executive Vice President and Chief Financial Officer, said the company reported comprehensive income of $0.52 per common share for the second quarter. The 6.7% economic return on tangible common equity consisted of $0.36 of dividends declared per common share and a $0.20 increase in tangible net book value per share, which she attributed to mortgage outperformance relative to interest rate hedges.

Bell said AGNC’s total stock return for the quarter was 12.3% with dividends reinvested, bringing the company’s one-year total stock return to 36.1%. As of late the prior week, tangible net book value per common share was down about 1%, or a little less than 2% net of the July monthly dividend accrual.

Both ending and average leverage were unchanged at 7.4 times tangible equity, Bell said. AGNC ended the quarter with $7.5 billion of unencumbered cash and agency MBS, equal to 62% of tangible equity.

Net spread and dollar roll income totaled $0.40 per common share, down $0.02 from the first quarter. Bell said the decline primarily reflected a six-basis-point reduction in the company’s net interest spread, driven by lower asset yields from portfolio repositioning and partly offset by modestly lower funding costs.

AGNC also issued $167 million of common equity through its at-the-market offering program during the quarter. Bell said the issuance was completed at a significant premium to tangible net book value per share, while maintaining what she described as a disciplined and opportunistic approach to capital issuance.

Portfolio Repositioning and Hedge Strategy Federico said agency MBS outperformed both Treasury and swap-based hedges in the quarter, though performance varied meaningfully by coupon. Higher-coupon and production-coupon MBS saw the greatest outperformance as higher interest rates reduced both supply and prepayment concerns.

At quarter-end, AGNC’s asset portfolio had a market value of $97 billion. The company purchased $2.2 billion of primarily intermediate-coupon specified pools during the quarter. Federico said AGNC also sold some lower-coupon MBS and bought higher-coupon MBS early in the quarter to lock in gains from the first quarter’s strong lower-coupon performance and capture the yield benefit associated with higher coupons in a more benign prepayment environment.

As a result, the weighted average coupon on the portfolio increased to 5.04%, while the percentage of assets with favorable prepayment characteristics rose slightly to 79%. The notional balance of AGNC’s hedge portfolio was $66 billion at quarter-end, up slightly from the prior quarter due to the addition of intermediate- and longer-term Treasury-based hedges. The company ended the quarter with a duration gap of 0.7 years, unchanged from the prior quarter.

Management Sees Attractive Returns but Remains Cautious During the question-and-answer session, Federico said marginal investments were generating return-on-equity potential in the 15% to 17% range when leveraged at AGNC’s typical levels of 7 to 7.5 times. He said those returns align well with the economics of the company’s dividend.

On capital raising, Federico said AGNC took “a lighter touch” in the second quarter because management believed the stock was trading somewhat heavily and did not want at-the-market issuance to disrupt trading. He said AGNC would remain opportunistic and disciplined, using capital activity when it is beneficial to existing shareholders.

Federico acknowledged that the outlook remains affected by elevated geopolitical risk and uncertainty around monetary policy, including a more hawkish message from the new Federal Reserve chairman. However, he said the underlying fundamentals for the mortgage market have continued to improve, particularly due to lower supply expectations and strong demand.

Asked about housing demand, Federico said that, given mortgage rates around 6.5% or higher, AGNC does not expect an uptick in demand in the second half of the year. He said the company would instead expect demand to decline seasonally over the remainder of the year.

In closing, Federico said AGNC was “really happy with the quarter” and looked forward to speaking with investors again after the third quarter.

About AGNC Investment (NASDAQ:AGNC)AGNC Investment Corp. is a self-managed real estate investment trust (REIT) that primarily acquires and manages a portfolio of residential mortgage-backed securities guaranteed by U.S. government-sponsored enterprises such as Ginnie Mae, Fannie Mae and Freddie Mac. The company employs a leveraged total return strategy, borrowing against its securities to enhance income potential while using interest rate hedges to manage risk. AGNC's investment objective is to generate attractive monthly dividends and long-term capital appreciation for its shareholders.

Founded in 2008 and headquartered in Bethesda, Maryland, AGNC focuses exclusively on U.S.

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

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

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Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead. This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.

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AGNC Investment Corp. (AGNC) Q2 2026 Earnings Call July 21, 2026 8:30 AM EDT

Company Participants

Katherine Turlington - Investor Relations Analyst
Peter Federico - President, CEO & Director and Chief Investment Officer
Bernice Bell - Executive VP & CFO

Conference Call Participants

Douglas Harter - BTIG, LLC, Research Division
Crispin Love - Piper Sandler & Co., Research Division
Ameeta Lobo Nelson - UBS Investment Bank, Research Division
Jason Weaver - JonesTrading Institutional Services, LLC, Research Division
Bose George - Keefe, Bruyette, & Woods, Inc., Research Division
Trevor Cranston - Citizens JMP Securities, LLC, Research Division
Hong Zhang - JPMorgan Chase & Co, Research Division
Harsh Hemnani - Green Street Advisors, LLC, Research Division

Presentation

Operator

Good morning and welcome to the AGNC Investment Corp. Second Quarter 2026 Shareholder Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Katie Turlington in Investor Relations. Please go ahead.

Katherine Turlington
Investor Relations Analyst

Thank you all for joining AGNC Investment Corp.'s Second Quarter 2026 Earnings Call. Before we begin, I'd like to review the safe harbor statement. This conference call and corresponding slide presentation contains statements that, to the extent they are not recitations of historical facts, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements are intended to be subject to the safe harbor protection provided by the reform act. Actual outcomes and results could differ materially from those forecast due to the impact of many factors beyond the control of AGNC.

All forward-looking statements included in this presentation are made only as of the date of this presentation and are subject to change without notice. Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements are included in AGNC's periodic

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Key Takeaways Aon raised Data Center Lifecycle Insurance Program capacity to $5B from $3.5B for digital projects.Aon combines engineering, risk intelligence and insurance planning through its Reliable by Design approach.Aon expanded coverage across construction, property, cyber, liability and operational risk solutions. Aon plc (AON - Free Report) has expanded the capacity of its proprietary Data Center Lifecycle Insurance Program (DCLP) to $5 billion, up from $3.5 billion, strengthening its ability to support increasingly complex digital infrastructure projects. The enhancement comes as investments in artificial intelligence, cloud computing and hyperscale data centers continue to rise, creating greater demand for comprehensive insurance and risk management solutions that span the entire lifecycle of these assets.

The upgraded program combines higher insurance capacity with Aon's Reliable by Design approach, which integrates engineering expertise, risk intelligence and insurance planning early in the project lifecycle. The expanded offering includes up to $5 billion in Construction All Risks, Delay in Start-Up, Property Damage and Business Interruption coverage. It also provides enhanced cyber, liability, project cargo and terrorism protection, alongside advisory services covering climate risk, operational resilience and risk engineering.

The expansion comes at a time when AI-driven infrastructure spending continues to accelerate worldwide. Hyperscale operators and enterprise clients are investing billions in new facilities that require reliable power, advanced cooling systems and resilient network connectivity. As projects become larger and more capital intensive, securing adequate insurance capacity has become a critical requirement for developers, lenders and investors seeking to manage construction and operational risks.

The initiative strengthens Aon's position in a fast-growing specialty insurance segment where technical expertise can be a significant competitive advantage. By combining insurance placement with consulting and engineering capabilities, the company is building a more integrated value proposition that could support higher client retention and cross-selling opportunities beyond traditional brokerage services.

The initiative also aligns with Aon's broader strategy of expanding its Risk Capital offerings in high-growth industries. As global AI adoption fuels sustained investment in digital infrastructure, demand for specialized lifecycle risk solutions is likely to rise, positioning Aon to benefit from long-term growth while reinforcing its leadership in complex commercial insurance markets.

AON’s Price PerformanceOver the past year, AON shares have risen 2.5% against the industry’s fall of 26.4%.

Image Source: Zacks Investment Research

AON’s Zacks Rank & Key PicksAON currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader finance space are Alerus Financial Corporation (ALRS - Free Report) , Acadian Asset Management Inc. (AAMI - Free Report) and BlackRock, Inc. (BLK - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Alerus Financial’s current-year earnings of $3.03 per share has witnessed two upward revisions in the past 30 days against none in the opposite direction. ALRS’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.8%. The consensus estimate for current-year revenues is pegged at $307.1 million, suggesting a 4.2% year-over-year jump.

The consensus estimate for Acadian Asset Management’s current-year earnings is pegged at $5.11 per share, which signals 57.2% year-over-year growth. Its earnings beat estimates in three of the trailing four quarters and missed once, with the average surprise being 8.6%. The consensus mark for AAMI’s current-year revenues of $785.9 million implies 42.7% year-over-year growth.

The consensus estimate for BlackRock’s current-year earnings is pegged at $55.24 per share, which has witnessed six upward revisions in the past seven days against none in the opposite direction. Its earnings beat estimates in each of the trailing four quarters, with the average surprise being 7.3%. The consensus estimate for BLK’s current-year revenues is pegged at $28.6 billion, which implies an 18% year-over-year rise.

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company value investors might notice is Allstate (ALL - Free Report) . ALL is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 9.21 right now. For comparison, its industry sports an average P/E of 26.96. Over the past year, ALL's Forward P/E has been as high as 11.84 and as low as 8.78, with a median of 10.15.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. ALL has a P/S ratio of 0.96. This compares to its industry's average P/S of 1.34.

Finally, investors will want to recognize that ALL has a P/CF ratio of 8.66. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 11.39. ALL's P/CF has been as high as 14.16 and as low as 8.07, with a median of 10.58, all within the past year.

Value investors will likely look at more than just these metrics, but the above data helps show that Allstate is likely undervalued currently. And when considering the strength of its earnings outlook, ALL sticks out as one of the market's strongest value stocks.

Earlier this year, the streaming and entertainment industry witnessed one of its most high-stakes megadeals ever, stunning industry observers. Not only is it historic in its size, but it is also predicted to disrupt Hollywood and the media business as we know it. 

After years of Warner Bros. Discovery (WBD) struggling under the weight of billions of dollars in debt, compounded by declining cable viewership and fierce competition from streaming platforms, the company has been considering major strategic changes, including selling its entertainment assets to one of its rivals.

Several major players saw the potential in acquiring the media giant, and in December, Netflix announced it would acquire WBD’s studios and streaming for $82.7 billion.

But in a surprise eleventh-hour move in late February, the David Ellison-run Paramount became the winner of this bidding war, offering $111 billion to acquire all of WBD’s assets, including its studios, HBO, streaming platforms, games, and TV networks such as CNN and HGTV. Paramount was recently acquired by Ellison with significant support from his father, Larry Ellison — the Oracle chairman, world’s sixth-richest person, and major Trump donor.

Paramount’s offer was approved by the U.S. Department of Justice (DOJ) in June. However, a federal judge just paused the deal after a lawsuit was filed on July 13 by a coalition of 12 state attorneys general.

Let’s break down exactly what is happening, what’s at stake, and what could come next. 

What has happened so far? ​This all started back in October when Warner Bros. Discovery revealed it was exploring a potential sale after receiving unsolicited interest from several major players in the industry.

​The bidding process quickly became competitive, and Paramount and Comcast emerged as serious contenders, with Paramount initially viewed as the frontrunner. 

However, WBD’s board eventually determined that an offer from the streaming giant Netflix was the most attractive. Netflix offered $82.7 billion for just Warner’s film, television, and streaming assets.

Thus began the bidding war. Paramount believed its bid of approximately $108 billion for all of Warner’s assets was superior to Netflix’s offer that focused on just the studios and streaming. To sweeten its deal, Netflix amended its agreement in January to an all-cash offer at $27.75 per share of Warner Bros. Discovery, further reassuring investors and paving the way for the deal to proceed.

​Paramount persisted in its attempts to acquire WBD. Still, the Warner board repeatedly rejected its offers, citing concerns about Paramount’s heavy debt load and the increased risk associated with its proposal, including concern over the suite of investors bankrolling Paramount’s bid, which includes Saudi, Qatari, and Abu Dhabi sovereign wealth funds. The board noted that Paramount’s offer would have left the combined company burdened with $87 billion in debt, a risk they were unwilling to take at the time.

In January, Paramount filed a lawsuit seeking more information about the Netflix deal. A month later, the company sought to sweeten its deal by announcing it would offer a $0.25 per share “ticking fee” to WBD shareholders for each quarter the deal fails to close by December 31, 2026. It also said it would pay the $2.8 billion breakup fee if Warner backs out of its deal with Netflix.

Then, in a final attempt to secure a deal, Paramount increased its offer to $31 per share in February. This prompted the WBD board to prolong discussions with Paramount regarding a potential agreement, considering it as a superior offer. Netflix declined to increase its bid and withdrew from the negotiations.

“The transaction we negotiated would have created shareholder value with a clear path to regulatory approval,” Netflix co-CEOs Ted Sarandos and Greg Peters said in a statement on February 26. “However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.”

In addition to the billions Paramount already holds in debt, the company is also set to assume the approximately $33 billion in debt Warner Bros. Discovery holds under the agreement. The deal will be backed by a $54 billion debt commitment from Bank of America, Merrill Lynch, Citi, and Apollo Global Management, as well as $45.7 billion in equity from Larry Ellison.

Regulatory hurdles and other concerns In addition to the assumption of substantial debt posing a significant financial burden, Paramount faces several other hurdles in its deal with WBD that could impact the success of the transaction. 

For one, Ellison has warned about significant job reductions that are expected in the near future. There have already been widespread concerns among critics about potential job losses and lower wages.

Ellison is also a controversial figure in the industry, and his ownership of CBS News has been seen as sympathetic and supportive of the administration of Donald Trump, of whom his father, Larry Ellison, is a major donor. Under Ellison’s ownership of Paramount, reporting critical of the administration has been shelved or received increased scrutiny from Ellison or his appointed head of CBS News, the conservative provocateur Bari Weiss.

This has led to some concern among employees at Warner-owned CNN. Trump has personally sought concessions from news divisions critical of him, including a $16 million settlement from CBS, before his FCC would approve the Ellison takeover of Paramount. Before Netflix bowed out of the deal, Trump pressured the company to fire the former Biden White House official Susan Rice from its board. He has publicly stated his intentions to bring CNN to heel under new owners.

Regulatory scrutiny is another hurdle. Such a large-scale merger has attracted attention from lawmakers.

For instance, California attorney general Rob Bonta said in a statement on February 26 that “these two Hollywood titans have not cleared regulatory scrutiny — the California Department of Justice has an open investigation, and we intend to be vigorous in our review.”

A day before Netflix backed out, it was revealed that a coalition of 11 state attorneys general urged the U.S. Department of Justice to review the merger under concerns it will stifle competition and increase subscription prices. This comes months after U.S. senators Elizabeth Warren, Bernie Sanders, and Richard Blumenthal voiced their concerns to the Justice Department’s Antitrust Division, warning that such a massive merger could have serious consequences for consumers and the industry at large. The senators argue that the merger could give the new media giant excessive market power, enabling it to raise prices for consumers and stifle competition.

Despite the DOJ approving the deal in June, a coalition of 12 state attorneys general filed a lawsuit on July 13 to block the merger. The suit argues it would lessen competition and harm movie theaters, cable distributors, and viewers. The coalition is led by Bonta, with Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington also joining. 

In response, U.S. District Judge Araceli Martínez-Olguín issued a 14-day pause.

When is the deal expected to close? Paramount initially aimed to finalize its acquisition of WBD as early as July. However, the transaction has now been temporarily paused until August 3, with a hearing set to assess whether the freeze will extend further.

Stay tuned…

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Affirm Holdings (AFRM - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

Shares of this operator of digital commerce platform have returned +4.3% over the past month versus the Zacks S&P 500 composite's -0.6% change. The Zacks Internet - Software industry, to which Affirm Holdings belongs, has gained 8.8% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Affirm Holdings is expected to post earnings of $0.33 per share, indicating a change of +65% from the year-ago quarter. The Zacks Consensus Estimate has changed +7.1% over the last 30 days.

For the current fiscal year, the consensus earnings estimate of $1.23 points to a change of +720% from the prior year. Over the last 30 days, this estimate has changed +1.2%.

For the next fiscal year, the consensus earnings estimate of $1.71 indicates a change of +39.2% from what Affirm Holdings is expected to report a year ago. Over the past month, the estimate has changed +1.2%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Affirm Holdings is rated Zacks Rank #2 (Buy).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

For Affirm Holdings, the consensus sales estimate for the current quarter of $1.11 billion indicates a year-over-year change of +26.4%. For the current and next fiscal years, $4.21 billion and $5.34 billion estimates indicate +30.6% and +26.7% changes, respectively.

Last Reported Results and Surprise HistoryAffirm Holdings reported revenues of $1.04 billion in the last reported quarter, representing a year-over-year change of +32.6%. EPS of $0.3 for the same period compares with $0.01 a year ago.

Compared to the Zacks Consensus Estimate of $997.92 million, the reported revenues represent a surprise of +4.09%. The EPS surprise was +76.47%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Affirm Holdings is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Affirm Holdings. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.

Pentair investors saw FY2026 earnings expectations reset after the Company moved from a $5.30-$5.40 adjusted EPS range to $4.60-$4.80 adjusted EPS and $3.90-$4.10 GAAP EPS. The investigation focuses on investor losses tied to the earnings-number reset. July 21, 2026 10:07 ET  | Source: Levi & Korsinsky, LLP

NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) -- Pentair plc (NYSE: PNR) investors were hit on July 14-15, 2026 as shares fell after the Company cut FY2026 earnings guidance by roughly 30%, moving GAAP EPS to $3.90-$4.10 and adjusted EPS to $4.60-$4.80. Investors who held PNR through the July reset may have losses tied to that earnings-number change. Affected PNR shareholders are encouraged to submit your PNR loss information. You may also call (212) 363-7500.

Levi & Korsinsky is investigating potential securities law violations involving the earnings figures Pentair presented to investors before the July reset.

On April 28, 2026, Chief Executive Officer John L. Stauch told investors: "For the full year, we are increasing our adjusted EPS guidance midpoint to approximately $5.35, with a range of $5.30 to $5.40." The July reset put adjusted EPS at $4.60-$4.80, a midpoint of $4.70, about $0.65 below the April midpoint.

Pentair's July update also placed GAAP EPS at $3.90-$4.10 while adjusted EPS was set at $4.60-$4.80. At the midpoint, adjusted EPS was $0.70 per share higher than GAAP EPS, and PNR shares moved lower after investors received the reset.

If you lost money in Pentair shares after the July 2026 earnings reset, send your Pentair loss details or call (212) 363-7500.

Levi & Korsinsky, LLP -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.

Frequently Asked Questions About the PNR Investigation

Q: What is the PNR securities investigation about? A: A securities investigation is pending concerning Pentair plc (NYSE: PNR) regarding potentially inaccurate or incomplete statements about FY2026 earnings expectations. Shares declined after the Company reduced FY2026 earnings guidance on July 14, 2026, causing losses for shareholders.

Q: Who is eligible to participate in the PNR investigation? A: Investors who purchased PNR stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: Which statements are being investigated as potentially misleading? A: The investigation concerns whether Pentair gave investors an accurate view of FY2026 earnings expectations before the July 2026 reset to GAAP EPS of $3.90-$4.10 and adjusted EPS of $4.60-$4.80.

Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What is a lead plaintiff and why does it matter? A: If the investigation proceeds to court action, a lead plaintiff is the investor the court appoints to represent affected investors. Lead plaintiffs are typically investors with the largest documented losses.

Q: What if I already sold my PNR shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought PNR and sold at a loss may still participate in the investigation.

Q: What if my PNR losses are small -- is it still worth contacting a lawyer? A: Yes. There is no minimum loss amount required to participate in the investigation.

Q: What does it cost me to participate? A: There is no upfront cost to participate. Securities investigations and any resulting actions are generally handled on a contingency basis. No upfront fees, no retainer

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (212) 363-7500\

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

Halliburton Company (NYSE:HAL, XETRA:HAL) reported second quarter results that exceeded Wall Street expectations, but shares fell more than 6% after management warned that the oilfield services market is weakening more than previously anticipated in the short to medium term.

The oilfield services company posted adjusted earnings of $0.55 per share, ahead of the consensus estimate of $0.54.

Revenue came in at $5.71 billion, surpassing analyst expectations of $5.51 billion.

Net income for the quarter was $534 million, or $0.64 per diluted share, compared with $461 million, or $0.55 per diluted share, in the first quarter. Total revenue increased to $5.7 billion from $5.4 billion in the prior quarter, while operating income rose to $778 million from $679 million.

Halliburton generated $824 million in operating cash flow and $668 million in free cash flow during the quarter. The company also repurchased approximately $200 million of its shares.

Halliburton CEO Jeff Miller highlighted the company's international opportunities and improving North American activity.

"I am pleased with Halliburton's performance this quarter, and believe the global outlook for Halliburton is strong. I expect our differentiated technology and value proposition set the stage for revenue growth and margin expansion," Miller stated in the earnings release.

He added that international markets continue to present growth opportunities, citing contract awards and a pipeline of future work, while noting that North America showed signs of recovery during the quarter with expectations for further incremental improvement through the year.

However, investor sentiment was weighed down by Miller's more cautious outlook for the broader industry. He recently warned that the oilfield services market is expected to be softer than previously anticipated over the short to medium term, citing a decline in global upstream spending, lower drilling activity in North America, and geopolitical challenges in the Middle East.

3 Energy Stocks Built for the AI Power Boom—And BeyondHalliburton NYSE: HAL reported sequential revenue growth in the second quarter of 2026, with management pointing to strength in international markets, a recovering North America business and a growing pipeline of technology-driven contract awards.

Chairman, President and CEO Jeff Miller said Halliburton delivered total company revenue of $5.7 billion and adjusted operating margin of 12% in the quarter. International revenue was $3.4 billion, up 6% year over year and the company’s highest second-quarter international revenue in more than a decade, despite disruptions in the Middle East. North America revenue was $2.3 billion, flat from the year-earlier period but up sequentially.

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SLB’s Tough Quarter Masks a Powerful Long-Term Shift“Our international business delivered its highest second quarter revenue in more than a decade, despite the disruption in the Middle East,” Miller said. “Our North America business delivered sequential improvement, and my outlook for our business is positive.”

Chief Financial Officer Eric Carre said reported net income per diluted share was $0.64, while adjusted net income per diluted share was $0.55. Cash flow from operations was $824 million, free cash flow was $668 million and the company repurchased about $200 million of its common stock during the quarter.

International Markets Drive Growth Despite Middle East Disruption Pipelines and Automation: 2 Energy Plays Built for Any Oil PriceManagement emphasized that international customer engagement remains high, with Miller saying he sees growing demand for Halliburton’s services and technology across regions. He said energy security and reliable, affordable energy remain central issues for producing and consuming nations, and that rebuilding inventories, expanding strategic reserves and diversifying supply could take “years, not quarters.”

Chief Operating Officer Shannon Slocum said international opportunities are “the strongest I’ve seen in many years.” He said Middle East activity is recovering from conflict-related lows, though the pace remains dependent on day-to-day events in the region. Land well construction activity was largely steady during the quarter, except for pockets of disruption in Iraq and Bahrain, while offshore activity improved through the quarter but remained below pre-conflict levels.

Slocum highlighted Iraq as a key opportunity after Halliburton announced a significant Integrated Field Management service award. He described the project as foundational and said it would put Halliburton’s digital and technology offerings to work at scale. He also cited recent wins in onshore well construction, integrated offshore projects and the resumption of unconventional fracturing operations in Jafurah as reasons for optimism in the Middle East.

Outside the Middle East, Halliburton expects international growth in the low double digits this year. Slocum pointed to production services, drilling, unconventionals and artificial lift as key growth engines. Recent developments included commissioning of a new North Sea stimulation vessel, integration of Sekal with Halliburton’s LOGIX automation platform and unconventional project wins in Algeria and Argentina.

North America Shows Sequential Improvement In North America, second-quarter revenue rose 7% sequentially to $2.3 billion. Carre said the improvement was driven by higher stimulation and well construction activity in U.S. land and higher fluids activity in the Gulf of Mexico.

Slocum said North America activity built on first-quarter momentum, with stronger activity, modest pricing gains and further technology adoption. Drilling activity was strong, and Halliburton’s Drilling and Evaluation division grew 9% year over year in North America, he said.

In completions, Slocum said Halliburton remains focused on returns rather than market share, adding that the company’s ability to redeploy equipment to international markets creates a high bar for North America fleet reactivation. The company also deployed the latest version of ZEUS IQ during the quarter, which Slocum said expands subsurface measurements and gives customers well-by-well treatment control in simul-frac operations.

During the question-and-answer session, Miller said Halliburton is seeing “positive margin trajectory” in North America as white space fills and pricing improves. He said the company is focused on improving pricing across the fleet and may move equipment overseas when international opportunities offer better margins.

Segment Results and Regional Performance Completion and Production revenue was $3.2 billion, up 6% sequentially, while operating income rose 8% to $474 million. Segment operating margin was 15%. Carre said the increase was primarily driven by higher stimulation activity in the Western Hemisphere and improved well intervention services in Asia, partly offset by lower North America specialty chemicals activity tied to the sale of Halliburton’s chemical business, lower cementing activity in Latin America and reduced activity across multiple product lines in the Middle East.

Drilling and Evaluation revenue was $2.5 billion, up 5% sequentially, while operating income fell 4% to $338 million. Segment operating margin was 13%. Carre attributed the revenue increase to higher drilling-related services and land activity in North America and Europe/Africa, while the operating income decline reflected the seasonal roll-off of software sales.

By region, Europe/Africa revenue increased 19% sequentially to $1 billion, supported by stronger activity in the North Sea, well construction in Namibia and Egypt, completion tool sales in the East Mediterranean and project management activity in Angola. Middle East/Asia revenue fell 2% sequentially to $1.3 billion due to lower activity in Kuwait, Iraq and Qatar related to the Middle East conflict. Latin America revenue rose 3% to $1.1 billion on higher stimulation activity in Argentina and Mexico and improved completion tool sales in Mexico.

Guidance Points to Margin Improvement For the third quarter, Carre said Halliburton expects Completion and Production revenue to be flat to down 2% sequentially, with margins improving 125 to 175 basis points. Drilling and Evaluation revenue is expected to decline 3% to 5%, with margins improving 25 to 75 basis points.

Carre said Halliburton’s third-quarter outlook assumes Middle East activity remains steady at current levels, with no recovery to pre-conflict levels and no major additional disruption. He said the expected revenue decline in Drilling and Evaluation is tied mainly to lower drilling fluids and testing activity, while margin improvement should benefit from a more favorable mix, including higher-margin software sales. In Completion and Production, the sale of the chemical business will reduce revenue, but margins are expected to benefit from North America land fracturing, lift, Gulf of Mexico completion tool deliveries and Middle East recovery.

Halliburton expects corporate expenses of about $80 million in the third quarter, SAP S/4 migration expenses of about $45 million, net interest expense up about $5 million from the second quarter and an effective tax rate of approximately 19%. Full-year 2026 capital expenditures are expected to be about $1.1 billion.

Management Emphasizes Technology and Capital Discipline Throughout the call, management framed Halliburton’s growth strategy around technology, automation and disciplined capital deployment. Miller said recent wins are tied to the company’s value proposition and advances such as closed-loop geosteering, LOGIX, ZEUS IQ and the Sekal acquisition.

Asked about digital and software, Miller said Halliburton’s focus includes open architecture, artificial intelligence, deep science and data management. He said automation products are contributing to contract wins and are “a differentiator.”

On shareholder returns, Carre said Halliburton has not changed its buyback philosophy and expects repurchases to pick up from earlier in the year, while continuing on a regular basis rather than making large opportunistic moves.

Miller closed the call by reiterating that Halliburton’s global outlook is strong and that the company’s technology and value proposition support future revenue growth and margin expansion.

About Halliburton (NYSE:HAL)Halliburton is one of the world's largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company's activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.

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

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

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Key Takeaways SLB is scheduled to report second-quarter 2026 results on July 24 before the opening bell.SLB's second-quarter revenues are projected to increase 1.9% year over year to $8.71 billion.Higher year-over-year oil prices likely supported drilling activity during the June-end quarter. SLB (SLB - Free Report) is set to report second-quarter 2026 results on July 24, 2026, before the opening bell.

In the last reported quarter, its adjusted earnings of 52 cents per share topped the Zacks Consensus Estimate of 51 cents, primarily driven by a revenue increase in the Digital segment and contributions from the ChampionX acquisition. However, operational disruptions due to the Middle East conflict affected the Reservoir Performance and the Well Construction segments.

The company beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, delivering an average surprise of 3.32%. This is depicted in the graph below:

Estimate Trend for SLBThe Zacks Consensus Estimate for second-quarter earnings per share of 51 cents has seen downward revisions in the past seven days. The estimated figure indicates a 31.1% decline from the prior-year reported figure.

The Zacks Consensus Estimate for revenues is pegged at $8.71 billion, indicating an increase of 1.9% from the year-ago recorded figure.

Factors to Consider for SLB's Q2 ResultsSLB is a prominent name in the oilfield services industry, providing a comprehensive range of services to the oil and gas industry. As an oilfield services provider, SLB’s business model is highly exposed to commodity price volatility.

According to data from the U.S. Energy Information Administration (“EIA”), the Cushing, OK, WTI Spot Price per barrel averaged $100.32, $102.13 and $84.81 in April, May and June, respectively, significantly higher than the $63.54, $62.17 and $68.17 recorded in the same period of 2025. This significant year-over-year improvement in oil prices is likely to have increased the pace of drilling activity, creating potential tailwinds for SLB's performance in the June-end quarter.

Earnings Whispers for SLBOur proven model does not conclusively predict an earnings beat for SLB this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here, as you will see below.

Earnings ESP of SLB: SLB has an Earnings ESP of -1.96%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

SLB'S Zacks Rank: SLB currently carries a Zacks Rank #4 (Sell).

Stocks to ConsiderHere are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.

NOV Inc. (NOV - Free Report) has an Earnings ESP of +19.69% and currently has a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.

NOV is scheduled to release second-quarter 2026 earnings on July 28, 2026. The Zacks Consensus Estimate for NOV’s earnings is pegged at 16 cents per share, indicating a 44.8% decline from the prior-year reported figure.

Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +7.04% and carries a Zacks Rank of 2 at present. Cactus is scheduled to release second-quarter 2026 earnings on July 29.

The Zacks Consensus Estimate for WHD’s earnings is pegged at 71 cents per share, suggesting a 7.6% improvement from the prior-year reported figure.

HF Sinclair Corporation (DINO - Free Report) has an Earnings ESP of +11.69% and a Zacks Rank of 2. HF Sinclair is scheduled to release second-quarter 2026 earnings on July 28.

The Zacks Consensus Estimate for DINO’s earnings is pegged at $3.93 per share, suggesting a 131.2% increase from the prior-year reported figure.