Edwards Lifesciences zvýšil ve 2. čtvrtletí tržby TMTT o 44,8 % a TAVR o 10,5 % při konstantním kurzu. Firma ale čeká, že kurzové vlivy sníží tržby v druhém pololetí asi o 35 milionů USD.
Key Takeaways Edwards Lifesciences' TMTT sales rose 44.8%, while TAVR sales increased 10.5% at constant currency. EW's TAVR growth is supported by SAPIEN investments, clinical evidence and broader treatment opportunities. Edwards Lifesciences expects FX to cut second-half sales by about $35 million if current rates persist. Edwards Lifesciences’ (EW - Free Report) Transcatheter Mitral and Tricuspid Therapies (“TMTT”) business has seen consistent growth over the past few quarters, which is highly encouraging. The company’s TAVR platform represents another significant growth opportunity, supported by patient activation and advanced new technologies. However, ongoing currency swings and intense competition could weigh on Edwards’ financial results.
Over the past year, this Zacks Rank #3 (Hold) stock has gained 16.9% against the 6.5% decline of the industry. The S&P 500 composite rose 22.3% at the same time.
The renowned global medical device company has a market capitalization of $49.51 billion. EW’s earnings yield of 3.3% favorably compares with the industry’s negative 1.6% yield. In the trailing four quarters, Edwards delivered an average earnings surprise of 4.5%.
Let’s delve deeper.
Upsides for EW StockTAVR Holds Potential: Edwards’ TAVR franchise continues to benefit from the clinical and technology investments built around the SAPIEN platform. Second-quarter 2026 TAVR sales were about $1.3 billion and increased 10.5% on a constant-currency basis. The evidence base continues to support broader and earlier treatment. A seven-year PARTNER 3 subanalysis reinforced SAPIEN valve performance and durability, while a five-year EARLY TAVR analysis added evidence supporting intervention earlier in the aortic-stenosis disease pathway.
Updated European guidelines are also shaping clinical discussion around proactive treatment, and Japan approved the asymptomatic indication in second-quarter 2026. The next catalyst is the PROGRESS trial, which will evaluate whether certain moderate aortic-stenosis patients may benefit from earlier TAVR treatment.
TMTT Portfolio Holds Potential: Edwards’ TMTT portfolio remains a major source of growth as it scales repair and replacement therapies across mitral and tricuspid disease. Second-quarter 2026 TMTT sales were $195.9 million, up 44.8% on a constant-currency basis, with global mitral and tricuspid procedure growth remaining in the double digits. PASCAL, EVOQUE and SAPIEN M3 all contributed ahead of management’s expectations.
During second-quarter 2026, Edwards received CE Mark for SAPIEN M3 RESILIA and broadened the European indication for SAPIEN M3 and SAPIEN M3 RESILIA to patients with mitral annular calcification. ENCIRCLE registry data also showed low 30-day mortality, near elimination of regurgitation and quality-of-life improvement in this population.
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What Ails EW Stock?Foreign Exchange Remains a Margin Risk: Currency movements remain an important earnings variable because Edwards generates substantial sales and expenses outside the United States. Foreign exchange increased second-quarter 2026 reported sales by about $15 million, but reduced adjusted gross margin by roughly 70 basis points compared with the prior year. Management expects foreign exchange to reduce second-half sales by about $35 million if rates remain at current levels and now sees 2026 gross margin near the lower end of its 78% to 79% range.
Competitive Landscape Remains Intense: Structural heart remains a highly competitive medical-technology market, requiring continued investment in evidence, product development and physician adoption. Edwards reported modest year-over-year competitive-position gains in U.S. and European TAVR during second-quarter 2026, but part of growth still reflected a competitor’s 2025 market exit, with management indicating the European benefit was likely ending after the quarter. The company, therefore, must sustain SAPIEN differentiation as that comparison rolls off. Edwards is investing in next-generation SAPIEN and PASCAL technologies, yet failure to maintain technological or evidence advantages could weaken share and raise commercial spending over time.
EW Stock Estimate TrendThe Zacks Consensus Estimate for Edwards’ 2026 earnings per share (EPS) has remained constant at $3.00 in the past 30 days.
The consensus estimate for its 2026 revenues is pegged at $6.76 billion, indicating an 11.4% improvement from the year-ago reported number.
Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Veracyte (VCYT - Free Report) and Teleflex (TFX - Free Report) .
Globus Medical has an earnings yield of 5.8% in contrast to the industry’s negative 1.7% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 27.9%. GMED’s shares have rallied 42.3% against the industry’s 6.3% fall over the past year.
GMED sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Veracyte, sporting a Zacks Rank #1, has an earnings yield of 4.6% compared to the industry’s negative 1.7% yield. Shares of the company have risen 38% against the industry’s 6.3% decline. VCYT’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 41.8%.
Teleflex, carrying a Zacks Rank #2 (Buy), has an estimated long-term earnings growth rate of 20.7% compared with the industry’s 12.8% rise. Its earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 3.2%. TFX’s shares have rallied 5% against the industry’s 6.2% decline over the past year.
MP Materials v 1. pololetí 2026 zvýšila tržby segmentu Materials o 80 % na 167,8 mil. USD. Produkce NdPr stoupla o 51 % a upravený EBITDA se ze ztráty 8,9 mil. USD změnil na zisk 69,2 mil. USD.
Key Takeaways MP Materials' NdPr production rose 51% in the first half of 2026, while sales volumes surged 122%.Materials segment revenues jumped 80% to $167.8 million in 1H06, with adjusted EBITDA reaching $69.2 million.MP Materials benefited from higher volumes, stronger pricing and $59.8 million in PPA income. MP Materials (MP - Free Report) is gaining momentum in 2026 as its efforts to expand neodymium-praseodymium (NdPr) production translate into stronger operational performance, higher revenues and improved profitability in its Materials segment.
The Materials segment represents the upstream and midstream operations of the company, anchored by Mountain Pass, its fully integrated mining and refining facility producing refined rare earth oxides and related products. The segment now derives its revenues from NdPr oxide and metal sales, reflecting MP Materials’ strategic shift toward higher-value products.
Historically, rare earth concentrate sales accounted for the bulk of segment revenues. However, after halting shipments to Chinese customers in July 2025, the company began processing the concentrate into separated rare earth products or stockpiling it for future use.
NdPr production was a record 917 metric tons in the first quarter of 2026, followed by 840 metric tons in the second quarter. This brings the total NdPr production for the first half of 2026 to 1,757 metric tons, up 51% year over year. NdPr sales volumes surged 122% to 2,012 metric tons during the period. The company also produced 24,055 MT of rare earth oxides (REO) in concentrate in the first half of 2026.
This robust production and sales growth boosted the Materials segment’s financial performance. First-half revenues increased 80% year over year to $167.8 million, supported by higher sales volumes and stronger market pricing.
The Materials segment reported adjusted EBITDA of $69.2 million in the first half of 2026, a turnaround from the loss of $8.9 million reported in the first half of 2025. This was attributed to higher revenues and Price Protection Agreement (PPA) income of $59.8 million related to the agreement with the Department of War (DoW), despite higher cost of sales.
The performance so far this year builds on the momentum established in 2025. During the year, the segment sold 1,994 metric tons of NdPr, up 75% year over year. The Mountain Pass operations produced a record 2,599 MT of NdPr in 2025, more than double the 1,294 MT produced in 2024.
Australia-based peer Lynas Rare Earths Limited (LYSDY - Free Report) reported NdPr production of 1,857 tons for fourth-quarter fiscal 2026 (ended June 30, 2026), down 11% year over year. The company also produced 19 tons of dysprosium and terbium during the quarter. Total REO production reached 3,481 tons, up 8% from the prior-year quarter. The company also announced its first production of samarium oxide in March 2026.
Lynas’ revenues jumped 70% year over year to AUD 288.9 million ($204.9 million), marking the company’s highest quarterly revenues since the fourth quarter of fiscal 2022. Growth was driven by higher NdPr prices and increased sales volumes of total REO products.
MP’s Price Performance, Valuation & EstimatesMP Materials’ shares have declined 21.7% in a year compared with the industry’s 49.8% growth. Peers Lynas Rare Earths and Energy Fuels Inc. (UUUU - Free Report) have gained 30% and 66.2%, respectively.
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MP is trading at a forward 12-month price/sales multiple of 15.29X, a significant premium to the industry’s 1.42X. Energy Fuels and Lynas Rare Earths are trading at 19.27X and 10.34X, respectively.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MP Materials’ 2026 revenues indicates a 102% increase year over year. The consensus estimate for 2026 earnings is currently pegged at 12 cents per share, suggesting a solid improvement from the loss of 24 cents reported in 2025.
The consensus estimate for MP’s 2027 revenues suggests year-over-year growth of 72%, with earnings expected to surge 658%.
Image Source: Zacks Investment Research
The estimate for both 2026 and 2027 has, however, moved down in the past 60 days, as shown in the chart below.
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Range Resources vykázala ve 2. čtvrtletí upravený zisk 79 centů na akcii a tržby ve výši 795,3 milionu USD, obojí nad odhady. Čistý dluh klesl na 880,8 milionu USD.
It has been about a month since the last earnings report for Range Resources (RRC - Free Report) . Shares have added about 4.1% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Range Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.
Range Resources reported second-quarter 2026 adjusted earnings of 79 cents per share, up 19.7% from 66 cents a year ago. The figure topped the Zacks Consensus Estimate of 56 cents by 41.1%.
Quarterly revenues of $795.3 million increased 8.5% from the $732.9 million reported a year ago. The figure topped the consensus estimate of $720 million by 10.5%.
Strong quarterly results are driven by higher production and improved price realization.
RRC's Production & Price Performance
Production averaged 2,296.4 million cubic feet equivalent per day (MMcfe/d), up 4.5% from the prior-year quarter’s figure of 2,197.3 MMcfe/d. The figure came in lower than our projection of 2,385.9 MMcfe/d. Natural gas production increased 3%. Over the same time frame, oil production and NGL output increased 1% and 7%, respectively.
With daily production of 1,548.9 million cubic feet, natural gas represented about 67% of total output, while NGLs and oil accounted for the rest. NGL production averaged 118,113 barrels per day (Bbl/d), while oil output was 6,475 Bbl/d.
Range Resources turned 21 wells to sales during the quarter and completed roughly 300,000 lateral feet. The company drilled about 190,000 lateral feet across 11 wells.
Range Resources’ Realizations Strengthen Quarterly Results
The average realized price after derivative settlements before third-party transportation costs was $3.53 per Mcfe. Before NYMEX hedges, the realized price was $3.37 per Mcfe, while settled hedges added 16 cents per Mcfe.
Total price realization (excluding derivative settlements and before third-party transportation costs) averaged $3.36 per Mcfe, up 1% year over year. Price realization came in lower than our estimate of $3.41 per Mcfe.
Pre-hedge NGL realizations increased 29% to $29.10 per barrel, a $3.49 premium to the Mont Belvieu equivalent. Natural gas realized $2.42 per Mcf before NYMEX hedges, reflecting a 47-cent discount to the benchmark price. Oil realized price increased 59% to $83.96 per barrel before hedges.
RRC's Costs Reflect Higher Operating Activity
Total costs and expenses increased 5.5% year over year to $584.9 million from the $554.2 million reported a year ago. Transportation, gathering, processing and compression expense, the largest cost category, rose 4% to $316.8 million. Direct operating expense increased to $27.3 million from $22.6 million.
Total cash unit costs declined 3% to $1.92 per Mcfe from the prior-year figure of $1.97, aided by lower interest expense, which fell 46% to 7 cents per Mcfe from the year-ago figure of 13 cents. Total unit costs, including depletion, depreciation and amortization, decreased 2% to $2.37 per Mcfe.
Range Resources’ Efficiency Supports Development Momentum
Range Resources completed a record 1,900 stages with two crews during the quarter. The company posted a single-day completion record of 22 pumping hours and drilled nearly two miles in one day.
Second-quarter drilling and completion spending was $204 million. Range Resources invested another $8 million in acreage and $10 million in infrastructure, pneumatic upgrades and other projects. Total capital spending of $222 million represented about 33% of the annual budget
RRC's Cash Flow Funds Capital Returns
Cash flow from operating activities was $235 million. Cash flow from operations before changes in working capital totaled $332.5 million, up 10.7% from $300.5 million in the year-ago period.
RRC repurchased $78 million of shares and paid $24 million in dividends during the quarter. The company bought back 2 million shares at an average price of about $39.18 and retained $1.4 billion under its authorization.
Range Resources’ Balance Sheet Shows Lower Leverage
Net debt was $880.8 million at June 30, 2026, down 28% from $1.22 billion at year-end 2025.
RRC’s 2026 Outlook
RRC maintained its 2026 production outlook of 2.35-2.40 Bcfe per day, with liquids expected to account for more than 30% of output. The company retained its capital budget in the range of $650-$700 million.
The natural gas differential outlook improved to 35-40 cents below NYMEX from the prior range of 35-45 cents below NYMEX. NGL guidance was raised to a $2.00-$2.50 premium to the Mont Belvieu equivalent, while the oil and condensate differential improved to $10-$12 below WTI.
How Have Estimates Been Moving Since Then?Investors have witnessed a downward trend in estimates review over the past two months.
VGM ScoresAt this time, Range Resources has a average Growth Score of C, a score with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Range Resources has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Pegasystems za poslední měsíc přidaly asi 30,2 %, i když hospodářské výsledky za 2. čtvrtletí minuly odhady. Tržby vzrostly o 9,4 % na 420,72 milionu USD, ale zisk na akcii zaostal.
It has been about a month since the last earnings report for Pegasystems (PEGA - Free Report) . Shares have added about 30.2% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Pegasystems due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Pegasystems Inc. before we dive into how investors and analysts have reacted as of late.
Pegasystems Q2 Earnings Miss Estimates, Revenues Increase Y/YPegasystems reported second-quarter 2026 non-GAAP earnings of 35 cents per share, missing the Zacks Consensus Estimate by 18.61%. Earnings rose 25% year over year.
Revenues rose 9.4% year over year to $420.72 million but missed the consensus mark by 1.84%. The shortfalls came despite continued cloud momentum. Pega Cloud annual contract value rose 22% year over year, while total annual contract value increased 7% or 8% in constant currency.
Backlog grew year over year, supporting longer-term revenue visibility. Total backlog increased 10% year over year to $2.02 billion as of June 30, 2026 or 11% in constant currency. Pega Cloud backlog rose 18% to $1.56 billion and accounted for 77% of total backlog, up from 72% a year earlier.
PEGA’s Cloud Growth Supports Revenue ExpansionPega Cloud revenues climbed 28% year over year to $213.93 million and represented 51% of quarterly revenues, up from 43% a year earlier. Maintenance revenues declined 6% to $74.53 million.
Together, subscription services revenues advanced 17% to $288.46 million. Subscription license revenues rose 2% to $82.03 million, taking total subscription revenues up 13% to $370.49 million.
PEGA’s Revenue Mix Shows Subscription StrengthConsulting revenues declined 13% year over year to $50.23 million and accounted for 12% of total revenues compared with 15% in the prior-year quarter. The decline partly offset gains across the subscription business.
Subscription revenues represented 88% of quarterly revenues, up from 85% a year earlier. The higher recurring-revenue mix supported the top-line increase, but higher operating costs and delayed client decisions limited the benefit to profitability.
Pegasystems Faces Slower ACV GrowthTotal annual contract value (ACV) reached $1.62 billion at June 30, 2026, compared with $1.51 billion a year earlier. Pega Cloud ACV increased to $926.29 million from $761.05 million, highlighting the continued shift toward cloud contracts.
However, management said unprecedented changes in the AI market prompted clients to delay purchasing decisions. The company added that ACV growth slowed in the first half and warned that these factors may continue to pressure growth for the rest of the year.
PEGA’s Operating DetailsGross profit rose 13.7% year over year to $312.69 million. The gross margin expanded about 280 basis points to 74.3%, driven by revenue growth and a slight decline in total cost of revenues.
Operating expenses increased 14.9% to $296.05 million. Selling and marketing expenses rose 12.4%, research and development expenses increased 6.8%, and general and administrative expenses jumped 37.6%.
GAAP operating income slipped 3.7% year over year to $16.64 million. The operating margin contracted roughly 50 basis points to 4% as expense growth outpaced revenues.
PEGA’s Balance Sheet & Cash FlowAs of June 30, 2026, cash and cash equivalents and marketable securities totaled $361.9 million, down from $474 million as of March 31, 2026.
For the first six months of 2026, cash provided by operating activities increased 2.7% year over year to $298.23 million. Free cash flow rose 0.6% to $288.26 million, even as the company cautioned that slower ACV growth could weigh on cash generation for the remainder of the year.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -24.31% due to these changes.
VGM ScoresAt this time, Pegasystems has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Pegasystems has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Integra LifeSciences začala v Braintree vyrábět SurgiMend a buduje zásoby pro postupné znovuuvedení na trh ve 4. čtvrtletí 2026. Klíčový rok pro zotavení má být 2027, pokud projde inspekcí FDA.
Key Takeaways IART began building SurgiMend inventory for a phased fourth-quarter 2026 relaunch.Integra expects SurgiMend share recapture to build gradually, making 2027 the key recovery year.Integra expects FDA approval earlier in 2027, pending a successful Braintree pre-approval inspection. Integra LifeSciences Holdings Corp. (IART - Free Report) has begun producing SurgiMend at its Braintree facility and is building inventory for a phased fourth-quarter 2026 relaunch. That milestone adds another product-restoration catalyst to the company’s Tissue Reconstruction recovery plan.
The near-term financial effect should be limited. Management assumes no meaningful SurgiMend contribution in 2026, leaving 2027 as the more important period for judging share recapture, regulatory progress and the broader portfolio recovery.
Image Source: Zacks Investment Research
IART’s Braintree Site Starts Building InventoryBraintree began production in June 2026, giving Integra a manufacturing path to restore SurgiMend after a prolonged disruption. Management is building inventory ahead of a controlled relaunch and expects sufficient supply to support the initial rollout.
The company plans to engage historical high-volume users and key opinion leaders first, applying lessons from the PriMatrix return. Because 2026 guidance includes no meaningful SurgiMend revenues, the current inventory build is more relevant to medium-term portfolio recovery than to this year’s growth.
Integra Expects a Gradual SurgiMend Revenue ReturnManagement expects SurgiMend share recapture to build over several quarters rather than rebound immediately. On the latest earnings call, it discussed a modest recovery toward roughly 50% of the product’s historical performance of about $40 million, providing a framework for how the relaunch could develop.
That pace makes 2027 central to the investment case. The Zacks Consensus Estimate calls for 2027 revenues of $1.737 billion, up from $1.677 billion in 2026. SurgiMend would be one contributor to that expected growth, but the company has not provided formal 2027 guidance.
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IART’s FDA Timeline Remains the Critical GateThe December 2024 FDA warning letter remains unresolved, and related Class III premarket approvals cannot be approved until the relevant violations are corrected. Integra expects all warning-letter action items to be implemented by the end of 2026, but inspection and approval timing remains under FDA control.
SurgiMend’s clinical safety and efficacy review is complete, and management says an approvable FDA decision is already in place. The remaining premarket approval depends on a successful pre-approval inspection at Braintree, with management expecting approval earlier in 2027.
Integra’s Tissue Portfolio Could Broaden the RecoverySurgiMend would join a Tissue Reconstruction recovery already supported by DuraSorb growth and the PriMatrix relaunch. Roughly nine months after its return, PriMatrix had recovered slightly more than half of pre-recall revenues and continued to improve sequentially. MediHoney is also expected to return in 2027.
The competitive backdrop remains active. AbbVie Inc. (ABBV - Free Report) markets the AlloDerm Select regenerative tissue matrix for tissue repair and certain post-mastectomy breast reconstruction uses. Becton, Dickinson and Company (BDX - Free Report) offers Phasix Mesh for soft tissue reconstruction. Integra therefore needs product restoration to translate into sustained commercial execution, especially after Tissue Reconstruction revenues declined 2% organically in the second quarter.
IART’s Scores Keep the Relaunch in PerspectiveSurgiMend can strengthen Integra’s 2027 recovery path if the relaunch progresses as planned, but the opportunity still depends on gradual customer recapture and successful regulatory execution. The broader Tissue Reconstruction portfolio offers several recovery levers, yet second-quarter performance shows that the segment is not fully back to growth.
IART currently carries a Zacks Rank #3 (Hold). Its Value Score of B is the most supportive Style Score, while the Growth Score of C, VGM Score of C and Momentum Score of D are less favorable. Because Style Scores are designed to complement the Zacks Rank, the current mix supports a measured view of the 2027 catalyst rather than treating the SurgiMend relaunch as a stand-alone buy signal.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Hancock Whitney ve 2. čtvrtletí vykázala EPS 1,55 USD v souladu s odhadem a tržby 401,4 mil. USD překonaly očekávání. Akcie za poslední měsíc klesly asi o 0,4 %.
A month has gone by since the last earnings report for Hancock Whitney (HWC - Free Report) . Shares have lost about 0.4% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Hancock Whitney due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Hancock Whitney’s Q2 Earnings Match as Higher NII, Fee Income Offset Cost WoesHancock Whitney’s second-quarter 2026 earnings per share of $1.55 matched the Zacks Consensus Estimate. The bottom line rose 17.4% from the prior-year quarter.
Results were supported by higher NII and non-interest income, along with a decline in provisions. Also, a sequential increase in loans and deposit balances was positive. However, higher expenses were the undermining factor.
Net income available to common shareholders was $127 million, up 11.8% from the prior-year quarter. Our estimate for the metric was $124.6 million.
Revenues Improve, Expenses RiseQuarterly total revenues were $401.4 million, which surpassed the Zacks Consensus Estimate of $396.4 million. The top line also increased 6.9% year over year.
NII (on a tax-equivalent basis) increased 5.6% year over year to $295.2 million. NIM was 3.56%, which expanded seven basis points (bps). Our estimates for NII and NIM were $291.2 million and 3.57%, respectively.
Non-interest income was $108.4 million, up 10% year over year. The rise was driven by an increase in service charges on deposit accounts, trust fees, bank card and ATM fees, and investment and annuity fees and insurance commissions. We had projected non-interest income of $107.1 million.
Total non-interest expenses (GAAP) increased 4.4% to $225.4 million. We had projected expenses of $227.1 million.
The efficiency ratio increased to 55.31% from 54.91% in the year-ago quarter. An increase in the efficiency ratio indicates a deterioration in profitability.
Loans & Deposits Rise SequentiallyAs of June 30, 2026, total loans were $24.6 billion, up 2.5% from the prior quarter. Total deposits were $29.6 billion, up 1.9% from the previous quarter. Our estimates for total loans and deposits were $24.5 billion and $29.2 billion, respectively.
Credit Quality ImprovesThe provision for credit losses was $13.8 million, down 7.7% from the prior-year quarter. Our estimate for provisions was $11.4 million.
NCOs (annualized) were 0.16% of average total loans, down 15 bps from the prior-year quarter.
Capital Ratios Decline, Profitability Ratios IncreaseAs of June 30, 2026, the Tier 1 leverage ratio was 10.87%, down from 11.35% at the end of the year-ago quarter. The common equity Tier 1 ratio was 13.18%, down from 13.97% as of June 30, 2025.
At the end of the second quarter of 2026, the return on average assets was 1.42%, up from 1.32% in the year-ago period. The return on average common equity was 11.52%, up from 10.63% in the prior-year quarter.
Share Repurchase UpdateIn the reported quarter, Hancock Whitney repurchased 712,966 shares at an average price of $68.28 per share.
2026 Outlook (Includes the impact of the OFB Deal)Management expects period-end loans to be up low-double-digits. Deposit balances are anticipated to be up in the low double-digit range.
NII (TE) is projected to increase 8-9% year over year. Further, flat to modest NIM expansion is expected in the second half of 2026 (assuming no rate cuts).
Adjusted pre-provision net revenues (PPNR) are expected to rise 7-8% from 2025.
Adjusted non-interest income is expected to increase 6-7%.
Adjusted non-interest expenses are expected to rise 7.5-8.5% from 2025.
Management expects to maintain an efficiency ratio below 55%.
The company expects an effective tax rate of 21-21.5%.
NCOs to average loans are expected to be in the 15-25 bps range.
Corporate Strategic Objectives (To be achieved by the fourth quarter of 2028)Management expects adjusted return on assets to be greater than or equal to 1.50%.
The tangible common equity is expected between 9-9.5%.
The adjusted return on tangible common equity is expected to be more than or equal to 15%.
Management aims for the efficiency ratio to be less than or equal to 55%.
How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended downward during the past month.
VGM ScoresCurrently, Hancock Whitney has a poor Growth Score of F, a grade with the same score on the momentum front. However, the stock was allocated a score of C on the value side, putting it in the middle 20% for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Interestingly, Hancock Whitney has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Domino’s uvádí, že drží asi 23% podíl na trhu s pizzou a vidí další prostor pro růst podílu díky vyšším objednávkám, agregátorům a expanzi sítě. Od konce roku 2008 se počet objednávek v USA v systému Domino’s více než zdvojnásobil, což pomohlo vytvořit zhruba 7 miliard dolarů v dodatečných maloobchodních tržbách. Objednávky přes agregátory jsou asi z 50 % inkrementální a Domino’s přidalo za poslední čtyři čtvrtletí 995 čistých nových poboček.
Key Takeaways Domino's holds roughly 23% of the pizza category, and management sees substantial long-term share potential.U.S. orders have more than doubled since 2008, helping drive about $7B in incremental retail sales.Aggregator orders are about 50% incremental, while Domino's added 995 net stores over the past four quarters. Domino’s Pizza, Inc. (DPZ - Free Report) already sits atop the global pizza industry, but management sees considerable room to widen its lead. The company estimates that it holds roughly 23% of the pizza category, well below the 40%-50% market shares commanded by leading quick-service restaurant brands in some other categories. While that comparison does not necessarily imply that Domino’s can reach those levels, management believes the gap highlights substantial long-term market-share potential.
The company’s argument rests primarily on order growth. Since the end of 2008, Domino’s has more than doubled the number of U.S. orders flowing through its system, generating double-digit market-share gains. Management estimates that the transaction growth helped produce roughly $7 billion in incremental retail sales, more than 2,100 net new stores and an almost 240% increase in franchisee store-level EBITDA. Domino’s views this combination of rising orders and disciplined pricing as the foundation for further share gains.
Third-party delivery platforms could widen Domino’s addressable customer base. The company believes it is already the No. 1 pizza brand on both Uber and DoorDash, yet management says it has not reached what it considers its fair share of the aggregator market. Domino’s continues to cite roughly 50% incrementality for aggregator orders, suggesting that a meaningful portion of those transactions comes from customers who might not otherwise have ordered directly from the brand.
Unit development represents another pathway to higher market share. Domino’s ended the second quarter with 22,531 stores globally, including 7,231 U.S. stores and 15,300 international locations. The system added 209 net stores during the quarter and 995 net stores over the trailing four quarters.
Risks remain. U.S. same-store sales rose just 0.1% in the second quarter as lower ticket offset stronger orders, while franchisee profitability pressures prompted Domino’s to trim its 2026 U.S. store-growth outlook to approximately 175 units. Still, sustained order growth, aggregator expansion and unit development suggest Domino’s 23% share could leave meaningful runway for further gains.
How Peers SBUX and YUM Pursue GrowthDomino’s is not alone in leaning on customer acquisition, digital engagement and unit expansion to build long-term growth. Its peers Starbucks Corporation (SBUX - Free Report) and Yum! Brands, Inc. (YUM - Free Report) are also using brand strength, innovation and technology to deepen customer engagement and expand their addressable markets.
Starbucks is gaining momentum through its Back to Starbucks strategy, which focuses on improving store execution, customer experience, menu innovation and loyalty. In third-quarter fiscal 2026, U.S. comparable sales rose 7.9%, supported by a 4.2% increase in transactions and 3.6% ticket growth. Starbucks Rewards reached 35.8 million 90-day active U.S. members, while Refreshers delivered double-digit U.S. revenue growth and helped the company broaden customer occasions. Starbucks also sees substantial whitespace for new coffeehouses in the United States and internationally, supporting its longer-term expansion opportunity.
Yum! Brands is similarly using value, innovation, digital engagement and development to drive share gains across its portfolio. Taco Bell delivered 7% same-store sales growth in the second quarter of 2026, outperforming the broader QSR industry for the ninth consecutive quarter, while digital mix reached 47%, up 5 percentage points year over year. Meanwhile, KFC posted 7% unit growth and sees significant international whitespace, including an estimated 20,000-unit opportunity across India, Southeast Asia, West Africa and Brazil. YUM’s strategy combines customer relevance with stronger restaurant economics and technology-driven engagement to support sustained growth.
DPZ’s Price Performance, Valuation & EstimatesDomino’s shares have lost 24.7% in the past year, underperforming the Zacks Retail - Restaurants industry, the broader Retail and Wholesale sector and the S&P 500 index.
DPZ 1-Year Price Performance
Image Source: Zacks Investment Research
In terms of its forward 12-month price-to-earnings ratio, DPZ is trading at 16.75, down from the industry’s 21.57.
DPZ P/E (F12M)
Image Source: Zacks Investment Research
DPZ’s earnings estimates for 2026 and 2027 have trended downward in the past 30 days. The revised estimates for 2026 and 2027 imply year-over-year growth of 4.2% and 7.5%, respectively.
DPZ Estimate Trend
Image Source: Zacks Investment Research
DPZ stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Iovance Biotherapeutics se dostala na 52týdenní maximum, přestože k pohybu nebyla žádná vlastní zpráva; od začátku roku akcie vzrostly o více než 200 %.
Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is trading at a 52-week high on Thursday, despite having no news to justify the move. Year to date, the stock has surged over 200%.
• Iovance Biotherapeutics shares are testing new highs. Why did IOVA hit a new high?
The momentum seems to come from breakthrough data from Moderna Inc. (NASDAQ:MRNA) and Merck & Co Inc.‘s (NYSE:MRK) individualized cancer therapy for advanced skin cancer.
On Wednesday, the companies said that at a pre-planned interim analysis, the investigational combination delivered statistically significant and clinically meaningful improvements in recurrence-free survival and distant metastasis-free survival compared to standard Keytruda alone.
Iovance’s Amtagvi Targets Advanced MelanomaInvestors should note that in February 2024, the U.S. Food and Drug Administration (FDA) granted accelerated approval to Iovance’s Amtagvi (lifileucel), a one-time tumor-infiltrating lymphocyte (TIL) therapy.
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It is derived from a patient’s surgically removed tumor, expanded in a lab, and then reinfused into patients.
Indication covers adult patients with unresectable or metastatic melanoma previously treated with a PD-1 blocking antibody, and if BRAF V600 mutation positive, a BRAF inhibitor with or without a MEK inhibitor.
Iovance is also conducting TILVANCE-301, a Phase 3 trial to confirm clinical benefit.
Moderna/Merck’s intismeran autogene is an mRNA-based individualized neoantigen therapy (INT) designed specifically for each patient based on the unique set of mutations within their tumor to train and activate the immune system to recognize and fight cancer.
Iovance Reports Early Soft-Tissue Sarcoma DataIn February, Iovance shared positive early data from a pilot clinical trial for its TIL cell therapy in advanced soft-tissue sarcomas.
Among the first six evaluable patients treated with lifileucel monotherapy, the trial showed a 50% confirmed objective response rate.
Most recently, the cancer drug company reported a second-quarter loss of 11 cents per share, beating the consensus loss of 14 cents per share.
Sales reached $99.313 million, beating the consensus of $87.832 million. U.S. Amtagvi revenue reached approximately $91 million.
Iovance Biotherapeutics reaffirmed fiscal 2026 sales guidance of $350 million-$370 million versus the consensus of $362.083 million.
Analysts Raise Price ForecastsUBS maintains Iovance Biotherapeutics with a Neutral rating and raises the price target from $4 to $7.
Mizuho reaffirms the Outperform rating for IOVA stock and raises the price target from $10 to $11.
IOVA Stock Price Activity: Iovance Biotherapeutics shares were up 9.64% at $8.76 at the time of publication on Thursday, according to Benzinga Pro data.
Americká vláda schválila 500 milionů USD na projekty v oblasti lithia, kobaltu a recyklace baterií, což signalizuje další podporu domácího dodavatelského řetězce. Z toho mohou těžit i firmy jako Lithium Americas, Standard Lithium, ABAT, LICYQ a MP.
The U.S. government’s latest $500 million investment in critical minerals wasn’t directed at publicly traded companies — but public market investors shouldn’t ignore it. By backing lithium processing, cobalt refining and battery recycling projects, the Donald Trump administration is signaling where it sees the next bottlenecks in the domestic battery supply chain may be.
That policy direction could create opportunities for listed companies operating in adjacent parts of the industry, even if they didn’t receive a dollar in funding.
• Lithium Americas shares are experiencing downward pressure. Why is LAC stock retreating?
Trump’s Critical Minerals Push Signals a Bigger Supply Chain ShiftThe Department of Energy awarded $500 million in grants to seven companies building domestic projects spanning lithium extraction, cobalt refining, battery recycling and advanced battery materials, according to a Reuters report. The largest awards went to private companies including Lilac Solutions, Jervois and Nth Cycle, while Princeton NuEnergy, Arcanum Ventures and Coreshell Technologies also secured funding.
Viewed in isolation, the grants are simply another round of government support. Taken together with recent restrictions on black mass exports and the administration’s broader push to reduce reliance on China, they suggest Washington is prioritizing the infrastructure needed to process and recycle battery materials — not just mine them.
That distinction matters because refining and processing remain among the weakest links in the U.S. battery supply chain.
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Five Battery Stocks Investors Should WatchSeveral listed companies could benefit if federal support for domestic critical minerals continues to expand.
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Lithium Americas Corp (NYSE:LAC) is developing U.S. lithium production and has previously received federal backing, making it a potential beneficiary of continued investment in domestic supply chains.
Standard Lithium Ltd.(AMEX:SLI), which is advancing direct lithium extraction technology, could benefit as the government continues to support newer lithium processing methods.
American Battery Technology Company (NASDAQ:ABAT) and Li-Cycle Holdings Corp (OTC:LICYQ) operate in battery recycling, an area receiving increased policy attention as Washington seeks to process more battery materials within the U.S.
MP Materials Corp. (NYSE:MP), while focused primarily on rare earths rather than lithium, remains one of the country’s most strategically important critical minerals companies and could continue to benefit from broader efforts to localize supply chains.
None of these companies received grants in this funding round. However, the administration’s latest investments reinforce the strategic importance of the industries in which they operate.
What Investors Should Watch NextRather than focusing solely on this round of grants, investors should watch whether Washington continues directing capital toward processing, refining and recycling projects. If that trend persists, companies already building domestic critical minerals infrastructure could find themselves operating in an increasingly supportive policy environment.
The bigger takeaway isn’t who received the latest funding. It’s that the U.S. government continues to deepen its commitment to building an end-to-end domestic battery supply chain — a long-term theme that could influence investment opportunities across the critical minerals sector for years to come.
Sezzle ve 2. čtvrtletí 2026 zvýšila počet aktivních předplatitelů na 854 000, což je meziročně o 76,4 % více. Průměrná četnost nákupů stoupla na rekordních 7,2x.
Key Takeaways SEZL's active subscribers reached 854,000 in Q2 2026, up 76.4% year over year.Subscriber purchase frequency hit a 7.2 times and subscribers averaged eight more orders than non-subscribers.New products gained traction as ~10% of eligible new subscribers used SezzleCash for their first transaction. Sezzle Inc.’s (SEZL - Free Report) subscriber engine delivered its strongest quarter yet in the second quarter of 2026. Active subscribers reached 854,000, up 76.4% year over year, while the company added 140,000 net new subscribers. Management said this was its largest quarterly subscriber gain since launching the subscription program, showing that subscription model is scaling.
Subscriber growth is translating into heavier usage. Average quarterly purchase frequency rose to a record 7.2 times from 6.1 times in prior-year quarter. Sezzle reported that subscribers place about eight more orders per quarter, on average, than non-subscribers. Management views subscribers as its highest lifetime-value users, linking subscriber growth to stronger engagement.
The company is adding more reasons for customers to stay subscribed. SezzleCash gives eligible Anywhere subscribers access to short-term cash advances, while Sezzle Mobile offers an unlimited wireless plan starting at $29.99. Card-linked offers, rewards, beta-product access and fee-free Sezzle Send for Anywhere users are also designed to make subscriptions harder to leave.
Marketing played a role. Sezzle spent $19.4 million on marketing in second quarter, more than double the $8.8 million spent a year earlier. Management said customer acquisition remained within its target of a payback period of under six months. That gives Sezzle room to keep investing, although executives expect lower marketing spending in the third quarter of 2026.
New products could support the next leg of growth. Nearly 10% of eligible new Anywhere subscribers used SezzleCash for their first transaction. Sezzle Send also had more than 100,000 users on its waitlist, creating another potential channel for attracting customers beyond the company’s traditional buy-now-pay-later offering.
How Are Affirm & Klarna Growing Their Users?Affirm’s (AFRM - Free Report) user base is expanding as more consumers adopt its flexible payment services for everyday purchases. A larger active-user population can strengthen engagement, repeat usage and brand familiarity, making Affirm a significant Sezzle competitor in overall consumer reach. In third-quarter fiscal 2026, Affirm reported 26.8 million active customers.
Klarna Group plc (KLAR - Free Report) maintains a substantially larger global user community, giving it broad consumer visibility across payments and shopping services. Its growing active-user base suggests strong adoption and frequent interaction, supporting Klarna’s competitive position against Sezzle in attracting and retaining consumers. In second-quarter 2026, Klarna reported 120 million active consumers worldwide.
SEZL’s Price Performance, Valuation & EstimatesShares of Sezzle have outperformed in the past three months compared with the broader industry and the S&P 500 Index.
Image Source: Zacks Investment Research
From a valuation standpoint, Sezzle’s shares have a Value Score of D. In terms of forward 12-month P/E, SEZL stock is trading at 19.36X, which is at a premium to the Zacks Financial Transaction Services Market industry’s 18.84X.
Image Source: Zacks Investment Research
Sizzle’s estimate revisions reflect a positive trend. The Zacks Consensus Estimate for full-year 2026 EPS has been revised upward to $5.24 in the past month. The consensus estimate for the metric indicates a year-over-year increase of 45.96%.
Image Source: Zacks Investment Research
Sezzle currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Redwire ve 2. čtvrtletí překonala očekávání u tržeb i ztráty na akcii a tržby dosáhly 117 milionů USD. Firma zároveň zvýšila backlog na 542 milionů USD a letos čeká růst tržeb až o 49 %.
Redwire Corporation (RDW -7.30%) had a terrific Q2 -- or at least, investors viewed it that way.
Redwire beat sales expectations, reporting $117 million for the quarter earlier this month. Losses were less than expected at only $0.09 per share. Investors cheered -- and shares of the space infrastructure-and-terrestrial drones company soared past $13 a share the day after earnings were released, a one-day gain of nearly 15%.
They've mostly stayed above $13 since that Aug. 5 earnings report, but briefly dipped below that level on Tuesday. Today, the stock is down 7.3% (as of 12:15 p.m.). And now the question for investors is: Should you buy Redwire stock while it's still below $13?
Image created by JesterAI.
Redwire stock is a rocket The sales and earnings news for last quarter was only the beginning, too. Proceeding through its report, Redwire described how it flipped from negative gross profit margins a year ago to positive 27.8% this time, and how it added 42% more money entering its backlog as new orders, than exited as revenue -- a book-to-bill ratio of 1.42. And how its backlog of work to be done now stands at $542 million.
That's more than 15 months' work all lined up and ready to be done, at the company's current annual revenue rate of $426 million.
Between the rising backlog and the accelerating rate of new orders, Redwire anticipates growing its sales by up to 49% this year, to perhaps $500 million.
Today's Change
(
-7.30
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-0.91
Current Price
$
11.50
How to value Redwire stock That's the good news.
The bad news is that analysts polled by S&P Global Market Intelligence think Redwire will need to reach closer to $700 million before it has a chance of becoming profitable. Long-ish range forecasts see the company approaching that mark in 2028, with about $685 million in sales -- but still $10 million in losses. So Redwire will probably have to exceed $700 million in revenue before it reaches breakeven profit under GAAP.
Until that happens, investors won't be able to value Redwire on price-to-earnings, and will have to make do with price-to-sales ratios.
This, unfortunately, is the other bad news. Currently priced at $3.35 billion in market capitalization, Redwire stock sells for 7.9 times trailing sales and 6.7 times its own best estimate of current-year sales. The stock furthermore costs nearly 5 times the sales that analysts forecast for it in 2028 -- two years from now.
All of these valuations, unfortunately, remain well above the 2x-4x sales valuation that investors have historically paid for not-yet-profitable space start-ups like Redwire. For this reason, I continue to view Redwire stock as overvalued.
Tempting as it may be to buy Redwire now that its stock has fallen below $13, I'd need to see it drop to $8 or below before I'd be interested in buying.
Fiserv snížil výhled na rok 2026: organický růst tržeb čeká na úrovni -1 % až 0 % a EPS činí 7,20–7,40 USD. Ve 2. čtvrtletí organické tržby klesly o 5 % a upravená provozní marže spadla na 31,8 % z 39,6 %.
Key Takeaways Fiserv cut 2026 organic growth guidance to negative 1% to flat and EPS guidance to $7.20-$7.40.FISV's Q2 organic revenues fell 5%, while adjusted operating margin dropped to 31.8% from 39.6%.Clover GPV rose 9%, while Fiserv generated $1.1 billion in second-quarter free cash flow. Fiserv, Inc. (FISV - Free Report) reset near-term expectations after a weaker second quarter and a reduced 2026 outlook. Adjusted earnings, revenues and margins all moved lower from the prior-year period, while organic revenue declined across both operating segments.
The investor question is whether this reflects a temporary disruption or a more persistent execution problem. Clover growth and healthy cash generation provide offsets, but the revised guidance and weaker profitability keep pressure on the near-term earnings picture.
Fiserv's Q2 Miss Shows Broad-Based WeaknessAdjusted earnings of $1.84 per share missed the Zacks Consensus Estimate of $1.89 by 2.7% and declined 26% year over year. Adjusted revenues were $4.96 billion, while organic revenues fell 5% in the second quarter.
The weakness was not confined to one business. Organic revenues declined 1% in Merchant Solutions and 8% in Financial Solutions, showing that the quarter's pressure extended across both operating segments rather than reflecting a single isolated shortfall.
Guidance Cut Resets FISV's 2026 BaselineFiserv lowered its 2026 organic revenue growth outlook to negative 1% to flat from the prior 1%-3% range. Adjusted earnings guidance was reduced to $7.20-$7.40 per share from $8-$8.30.
The company also cut its adjusted operating margin outlook to 31%-31.5% from about 34%. The new ranges point to materially lower revenue growth and profitability expectations than management had outlined earlier in the year.
Financial Solutions Deepens Fiserv's DragFinancial Solutions revenues fell 8% to $2.36 billion in the second quarter. Operating income declined to $912 million from $1.24 billion, while the segment's operating margin contracted to 38.7% from 48.7%.
The pressure is relevant in a competitive financial-technology market. Fidelity National Information Services, Inc. (FIS - Free Report) provides digital, core and payments technology to financial institutions, while Global Payments Inc. (GPN - Free Report) offers payments technology, point-of-sale software and commerce-enablement solutions through its Merchant Solutions business.
Fiserv's Cost Base Intensifies Margin PressureAdjusted operating income declined to $1.58 billion from $2.06 billion, and adjusted operating margin fell to 31.8% from 39.6%. The decline shows that weaker revenues were accompanied by a much sharper compression in profitability.
The quarter included $187 million of One Fiserv transformation program expenses, $40 million of severance costs and $23 million of merger and integration costs. These items added to company-wide pressure even as management continued its broader operating transformation.
Clover and Cash Flow Offer FISV CounterweightsClover remained a counterweight to the broader slowdown. Reported gross payment volume, or GPV, increased 9%, while value-added services revenues rose 10%. Value-added services penetration also improved to 25% from 24% a year earlier.
Fiserv generated $1.1 billion of free cash flow in the second quarter, equal to 112% of adjusted net income. That cash generation gives the company financial flexibility while it works through weaker revenue growth and margin pressure.
FISV's Ratings Reinforce a Cautious Near-Term ViewThe lowered outlook, weaker profitability and downward estimate revisions support a cautious near-term view. The Zacks Consensus Estimate for current-year earnings has fallen 10.5% over the past four weeks.
FISV currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Its Value Score of A points to favorable value characteristics, but the Growth Score of D and Momentum Score of D indicate weaker growth and price-momentum traits. The VGM Score of C reflects a mixed combined profile, while the Zacks Rank suggests a less favorable near-term setup despite the stronger Value Score.
Seagate vykázal ve FY2026 růst tržeb o 34,06 % na 12,20 miliardy USD a rekordní volný peněžní tok ve výši 3,11 miliardy USD. Management navíc zvýšil cíl ročního růstu tržeb na minimálně 20 %.
Few large-cap tech stocks have moved like Seagate Technology (NASDAQ:STX | STX Price Prediction) over the past five years. The hard drive maker was left for dead in 2021 as investors braced for NAND to eat HDD, yet the AI data explosion flipped the narrative.
Cloud giants now depend on Seagate’s Mozaic HAMR platform to store the exabytes their AI models generate, and the stock has responded in kind. The question is whether the run has legs into 2027, or whether the easy money has already been made.
Seagate Technology trades at $832.56 after a wild year that included a 431.49% one-year gain and a 980.57% five-year return. Our 24/7 Wall St. price target for Seagate is $946.08 over the next 12 months, implying modest but real upside from here. The recommendation is buy at high confidence, with structural cloud demand and HAMR economics driving the thesis.
Metric Value Current Price $832.56 24/7 Wall St. Price Target $946.08 Upside 13.63% Recommendation BUY Confidence Level 90% Momentum Cooled, but Fundamentals Accelerated STX slipped 5.2% over the past week and sits roughly 27% off its $1,144.18 52-week high.
Yet FY2026 delivered 34.06% revenue growth to $12.20 billion, non-GAAP EPS of $15.58, and record free cash flow of $3.11 billion. Q4 GAAP gross margin hit 52.3%, up from 37.4% a year prior. Management guided Q1 FY27 revenue to $4.1 billion and non-GAAP EPS of $7.30, signaling the ramp is accelerating.
Why Bulls See a Breakout Ahead CEO Dave Mosley described Seagate as entering “a period of structural growth” and lifted the annual revenue growth target to “a minimum of 20% over the next few years.” Nearline capacity is “almost fully allocated through calendar 2027,” and the top three cloud providers have nearly doubled their RPO to a staggering $1.1 trillion (the same buildout we mapped across power, cooling, and networking suppliers in a free report here: 7 Stocks Powering the AI Boom).
Mosaic 4 delivers up to 44 terabytes per drive, with Mosaic 5 targeting 50 terabytes by late 2027. A bull scenario points to $1,221, matching Morgan Stanley’s earlier $1,035 target environment.
What Could Go Wrong STX carries a beta of 2.102 and a trailing P/E of 71x. Hyperscaler concentration is real: 80% of revenue is data center. Dilution from the 2028 Exchangeable Senior Notes looms, though management retired $1.40 billion in debt across FY26.
A bear case takes shares to $703. The forward P/E of 28x and PEG of 0.569 suggest earnings growth is driving gains, with limited room for multiple expansion.
How Seagate Compares to Western Digital and Micron Western Digital (NASDAQ:WDC) is the cleanest peer, a pure-play HDD maker post-Sandisk separation. WDC posted FY26 revenue of $12.92 billion and non-GAAP EPS of $10.22, guiding Q1 FY27 to $4.1 billion in revenue and $4 EPS. Its market cap of $166.6 billion sits below Seagate’s $204.8 billion, but Seagate’s HAMR lead and higher EPS run rate justify the premium.
Micron Technology (NASDAQ:MU) offers AI memory context. Its fiscal Q3 revenue of $41.46 billion and Q4 guide of $50 billion put Seagate’s growth in perspective. Micron plays in DRAM and HBM, a different segment from storage, making it a complement rather than a substitute. The shared AI thesis makes Seagate’s Mosaic-driven margin story reasonable.
Company Forward P/E Market Cap Seagate 28 $204.8B Western Digital N/A $166.6B Micron N/A $1.06T My Take: Structural Demand Anchors the Thesis My 24/7 Wall St. price target for Seagate is $946.08, a buy at 90% confidence. The tipping factor is nearline capacity allocated through calendar 2027, which gives the earnings ramp visibility most cyclical stocks lack.
The thesis holds for investors who can stomach a beta above 2 and view pullbacks as entry windows. It weakens if hyperscaler capex signals soften or if HAMR yields disappoint.
Year 24/7 Wall St. Price Target 2026 $946 2027 $1,278 2028 $1,475 2029 $1,690 2030 $1,900 These projections assume Seagate executes Mosaic 4 and 5 on schedule. Significant upside or downside could come from a hyperscaler capex reset or a faster-than-expected NAND price crash.
Contact [email protected] for any questions or corrections.
Akcie SpaceX ve čtvrtek ráno klesly asi o 4,94 % na 132,60 USD a dostaly se pod IPO cenu 135 USD, protože další velký balík akcií se stal způsobilým k prodeji.
SpaceX shares SPCX fell around 4.94% to $132.60 in early Thursday trading, pushing the stock below its $135 initial public offering price as another large batch of shares became eligible for sale.
The decline comes after SpaceX defied expectations during its first major lockup expiration earlier this month, when more than 900 million shares became eligible for sale, but the stock instead rose sharply.
The immediate downward pressure was accelerated today after DZ Bank initiated coverage of SpaceX with a 'Sell' rating and a $100 price target, warning of a potential 'crash risk' given the massive capital requirements needed to justify its massive valuation.
SpaceX's $86 billion IPO on June 11 attracted strong demand from investors drawn to Elon Musk's plans for the company, which include expanding Starlink satellite internet, developing data centers in space, pursuing artificial intelligence, and pursuing longer-term space technology initiatives.
The stock initially rewarded investors, climbing from its $135 IPO price to more than $225 within days.
Less than two months later, shares fell as low as $105 before recovering to around $145.
The latest move below the IPO price highlights the volatility that can accompany large new listings as early investors gain the ability to sell their holdings.
SpaceX has adopted a staggered lockup structure that allows shareholders to sell their holdings across more than a dozen different dates.
The company's second major unlock took place today, with about 319 million shares held by early investors and employees becoming eligible for trading.
The structure differs from the traditional IPO lockup, in which pre-IPO shareholders are generally prohibited from selling their shares for 180 days after a company goes public.
Lockups are designed to give new public-market investors greater confidence that existing shareholders will not immediately sell large portions of their holdings.
Pre-IPO shareholders can include company executives, venture capital firms, private equity investors, wealthy individuals and employees.
SpaceX's staggered approach is intended to prevent a large volume of shares from reaching the market simultaneously and potentially putting greater pressure on the stock.
More than 700 million shares are expected to become available in September, followed by more than 650 million in October.
By the end of the year, about 4.9 billion SpaceX shares will have become eligible for trading.
Musk's own shares remain locked up until June 2027, according to the current schedule.
The expanding supply has been a major factor in SpaceX's early stock performance.
Investors have been cautious about buying ahead of potential profit-taking by early shareholders, contributing to the stock's decline to around $105 in July, well below its IPO price.
Most of the company remains held by pre-IPO shareholders, with Musk owning about 48% of the stock and controlling more than four-fifths of the voting power.
Shares becoming eligible for sale do not necessarily mean shareholders will sell them.
Eligibility to sell does not mean shareholders will immediately sell.
Large insider transactions can attract investor attention and may be interpreted by the market as a signal about an investor's confidence in the company.
Some fund managers that have publicly backed Musk's vision may therefore be less inclined to sell.
Other shareholders could have stronger incentives to take profits. These include funds that owned SpaceX before its IPO but primarily invest in private companies.
For other investors, the decision may depend on the stock's price and the availability of alternative investment opportunities.
Nvidia má ve středu 26. srpna zveřejnit výsledky hospodaření za fiskální 2. čtvrtletí a obchodníci sledují hlavně býčí NVDU i medvědí NVDD. Morningstar čeká další beat-and-raise a aktualizaci k prodejům do Číny.
Traders aren’t wrong in feeling as though second-quarter earnings season is over. However, there’s at least one big report left to absorb. Nvidia (NVDA) is slated to deliver its fiscal second-quarter update on Wednesday, August 26.
Earnings reports are often the ideal times for tactical traders to consider leveraged and inverse ETFs, indicating that the Direxion Daily NVDA Bull 2X Shares (NVDU) and the Direxion Daily NVDA Bear 1X Shares (NVDD) could soon have their moments in the sun. The two Direxion ETFs turn three years old next month.
NVDU attempts to deliver 200% of the daily performance of the bellwether semiconductor stock while the bearish NVDD seeks returns corresponding with the daily inverse performance of Nvidia. Given Nvidia’s knack for beating estimates and raising guidance, it’s not a stretch to assume traders will be focusing on the bullish NVDU.
“We’re looking for another beat-and-raise quarter, given the strong capex trends among hyperscalers and enterprises,” noted Morningstar analyst Brian Colello. “Nvidia should generate well over $300 billion of data center revenue in calendar 2026, which is effectively fiscal 2027, and perhaps over $500 billion in fiscal 2028. We expect to hear an update regarding sales (or non-sales) into China.”
Both ETFs Could Be in Focus
Some traders and investors have bullish biases, but that shouldn’t get in the way of acknowledging the bearish NVDD as a post-earnings play on Nvidia. In fact, the case for that inverse ETF may be heightened at a time when more market participants express concern about artificial intelligence (AI) financing plans.
“Perhaps the most polarizing issue has been Nvidia’s financing and backstopping of certain partners, including its recently announced $500 billion mobilization of large financial asset managers to invest in artificial intelligence,” added Colello. “We trust that Nvidia will lay out its case for why it is arranging such partnerships and/or financing certain firms.”
If Nvidia successfully allays those concerns, that could be a catalyst for the stock and the bullish NVDU, potentially providing icing on the cake for what some experts view as an undervalued stock.
“With its 4-star rating, we believe Nvidia stock is moderately undervalued compared with our long-term fair value estimate of $280 per share,” concluded Colello. “Our fair value estimate and Nvidia’s stock price will be driven by its prospects in the data center and AI GPUs, for better or worse. Nvidia’s DC business has achieved exponential growth already, rising from $3 billion in fiscal 2020 to $194 billion in fiscal 2026, and we estimate it will be $361 billion in fiscal 2027, representing 86% annual growth.”
For more news, information, and strategy, visit the Leveraged & Inverse Content Hub.
Nvidia před výsledky zaostává za širším polovodičovým indexem, ale analytici dál čekají silné překonání odhadů a zlepšení výhledu. Stifel má cíl 282 USD, Oppenheimer 265 USD.
Nvidia NVDA shares were down 0.3% at $216.74 in early Thursday trading, extending a period of relative underperformance.
The stock has risen 17% this year through Wednesday's close, well behind the 66% gain in the PHLX Semiconductor Index over the same period.
Nvidia's earnings report next Wednesday could help narrow that gap, with several analysts expecting the chipmaker to beat market expectations for the July quarter and raise its outlook for the current quarter.
Stifel analyst Ruben Roy reiterated a $282 price target on Nvidia in a research note this week.
Roy expects Nvidia to beat consensus expectations of adjusted earnings of $2.09 a share on revenue of $91.96 billion.
His price target is based on a price-to-earnings multiple of 22 times his forecast for Nvidia's fiscal 2028 earnings.
Oppenheimer also reiterated an Outperform rating and $265 price target ahead of next week's earnings report.
The firm expects upside to Nvidia's second-quarter results and third-quarter outlook, driven by Blackwell Ultra.
Its next-generation VR200 is expected to ramp during the current quarter, supporting momentum in the second half of the year.
Oppenheimer projects more than $1 trillion in revenue from GB200, GB300 and VR200 between 2025 and 2027.
The firm said Nvidia continues to maintain a performance-per-watt lead through an annual cadence of AI accelerator introductions.
Oppenheimer also highlighted tokens per minute and cost per token as important measures of AI performance, saying Nvidia remains best in class in training and inference token generation and cost.
The firm's bullish view also rests on Nvidia's full-stack AI platform, which includes GPUs, networking switches, NICs, InfiniBand, Ethernet, NVLink and CUDA.
Analysts at Morningstar also said they are looking for another "beat-and-raise" quarter from Nvidia, pointing to strong capital expenditure trends among hyperscalers and enterprises.
Morningstar has a $280 fair value estimate on Nvidia.
Financing concerns remain in focusNvidia's relative underperformance this year has been driven in part by concerns surrounding AI spending, the company's financing arrangements and increasing competition across the semiconductor industry.
Analysts at Cantor pushed back against concerns that Nvidia is effectively buying revenue through its financial arrangements.
The firm reiterated its Buy rating and said Nvidia's latest agreement is a "clear signal that the current AI investment cycle will be elongated and durable."
"We view this less as circular and more facilitating the coming AI buildout while at the same time creating additional competitive moats that will continue to enable NVDA to remain THE AI leader," the analysts wrote.
Nvidia's substantial cash generation has also allowed it to invest across the AI ecosystem while returning capital to shareholders.
The company said in May that it was increasing its quarterly dividend to 25 cents a share from a penny and announced a new $80 billion stock buyback plan.
Nvidia also pledged "to return roughly 50% of free cash flow to shareholders this year."
Next week's earnings report will provide a key test of Nvidia's ability to convert continued AI infrastructure investment into revenue growth while addressing investor concerns over financing, competition and the sustainability of spending across the sector.
AT&T ve 2. čtvrtletí zvýšila výnosy segmentu Advanced Connectivity o 4,1 % na 28,62 miliardy USD. Přidala také více než 1 milion optických přípojek, celkem jich má 38,6 milionu.
Key Takeaways T's Advanced Connectivity revenues rose 4.1% year over year to $28.62 billion in the second quarter.T added more than 1 million fiber locations in Q2, bringing its total to 38.6 million.T's convergence strategy is gaining traction, while AI-driven demand could support long-term growth. AT&T, Inc. (T - Free Report) is benefiting from solid traction in the Advanced Connectivity segment. The segment revenues rose 4.1% year over year to $28.62 billion. There are multiple growth drivers in this segment. Fiber is one of the largest growth drivers. The company added more than 1 million fiber locations in the second quarter. The total number of fiber locations has now reached 38.6 million. T remains on track to exceed 40 million by year-end 2026 and 60 million by 2030.
Growth in converged fiber and wireless customers is another catalyst. In the second quarter, 42.5% of advanced home Internet households had an AT&T postpaid wireless account. The convergence strategy is gaining strong traction, helping AT&T retain customers and deepen relationships. By combining wireless and home Internet services, the company is creating more cross-selling opportunities and increasing customer lifetime value.
Internet subscriber growth remains a major contributor to segment revenues. AT&T generated 646,000 Internet net adds, consisting of 367,000 fiber and 279,000 fixed wireless additions.
The company is witnessing solid traction in the wireless vertical as well. AT&T added 432,000 postpaid phone subscribers in the second quarter. An increase in retail wireless subscribers, particularly in underpenetrated categories and the rising number of converged customers are propelling this growth.
Artificial intelligence (AI)-driven demand for advanced connectivity is an emerging growth driver. The expansion of AI workloads is expected to increase demand for faster, higher-capacity and lower-latency networks. As AI processing moves closer to end users, demand for fiber-enabled networks will further increase. This will likely be a long-term growth driver for the Advanced Connectivity segment.
How Are Competitors Faring?The company faces stiff competition from Verizon Communications, Inc. (VZ - Free Report) and T-Mobile US, Inc. (TMUS - Free Report) in the telecom market. In the second quarter of 2026, Verizon’s Mobility and broadband service revenues increased 2.8% year over year to approximately $23.4 billion. Verizon continues to broaden its addressable market through fiber expansion and broadband growth, while strengthening convergence opportunities. In second-quarter 2026, the company added 348,000 broadband subscribers, including continued contributions from fixed wireless access and fiber, increasing total fixed wireless access and fiber broadband connections to approximately 17.1 million.
T-Mobile continues to benefit from healthy demand trends across wireless and broadband services. In the second quarter 2026, the company added 277,000 postpaid net accounts while postpaid ARPA increased 2% to $152.91. Service revenues increased 9% year over year, supported by premium plans, business wireless and broadband adoption.
T’s Price Performance, Valuation & EstimatesAT&T shares have lost 14.6% over the past year against the industry’s 80% growth.
Image Source: Zacks Investment Research
From a valuation standpoint, AT&T trades at a forward price-to-sales ratio of 1.31, below the industry average of 8.04.
Image Source: Zacks Investment Research
Earnings estimates for 2026 have increased 1.3% to $2.35 over the past 60 days, while the same for 2027 have increased 1.2% to $2.57.
Image Source: Zacks Investment Research
AT&T currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Walmart uvedl, že tržby za potraviny rostly ve středních jednotkách procent díky silným objemům a cenovým slevám. Firma zároveň zvýšila celoroční výhled růstu tržeb na 4 % až 5 %.
Walmart’s affordability push is showing up in what shoppers are buying, with transactions and unit volumes rising as the retailer cut prices on everything from ground beef and groceries to fashion and school supplies.
During a Thursday (Aug. 20) discussion of fiscal year 2027 second-quarter trends and metrics, management acknowledged more pressure on household budgets, particularly after higher gasoline prices forced some consumers to make more visible spending choices in June.
“Customers tell us they’re still feeling some pressure,” CEO John Furner said. “But it’s clear customers are looking for value and convenience, and they want things fast.”
The strategy has at least some headwinds to combat, as U.S. same-store sales grew 2.6%, tied in part to drug price declines, which is the slowest pace seen since the end of 2020. The growth missed Wall Street estimates for the first time in several years, and investors sent the shares down by about 8% at the start of trading on Thursday. The data give evidence to the balancing act that exists between consumers looking to stretch their dollars and the company’s efforts to keep traffic flowing in store and online.
The company had more than 11,000 price rollbacks during the quarter, compared with about 7,200 at the end of the first quarter. Those reductions weren’t concentrated in one part of the store. Furner said Walmart spread them across food, consumables, fashion and general merchandise, including seasonal and regularly replenished products.
Furner said transactions increased at Walmart U.S., Sam’s Club and internationally, with positive unit growth as well. Walmart U.S. comparable sales rose 2.6%, led by transactions. Enterprise net sales grew 5% in constant currency, while Walmart U.S. net sales increased 3.5%.
Price reductions can make the sales numbers harder to read because shoppers may buy more units without producing the same increase in dollars. Furner said food rollbacks typically generate a unit response first, followed later by market-share gains.
“Your shoppers don’t necessarily buy more food because they see lower prices,” Furner said during the call. “But over time, what we’re trying to do with rollbacks and low prices is build trust with customers.”
Walmart also provided evidence that affordability is influencing what goes into the basket. Grocery comparable sales rose by a mid-single-digit percentage, supported by strong unit volumes, with particular strength in pantry and fresh food. Consumables benefited from personal care, beauty and pet supplies. Grocery inflation was 1.3%, including a drag from lower egg prices.
The Basket Is Expanding Beyond Food General merchandise also grew by a low-single-digit percentage, led by toys and fashion. Marketplace sales increased more than 40% in hardlines and home, including furniture.
Walmart is also getting more business from higher-income households, and management attributed some of those gains to assortment rather than price alone. CFO John David Rainey said Walmart is carrying more elevated brands and higher-priced merchandise designed to appeal to a broader customer base. Private-label fashion brands Scoop and Free Assembly posted triple-digit comparable-sales gains, while back-to-college demand was strong for decor including candles, throws, rugs and lamps.
That gives Walmart two distinct ways to build the basket: aggressive pricing on everyday purchases and a wider assortment that can capture discretionary spending.
Digital shopping is helping connect those purchases. Walmart U.S. eCommerce sales grew 24%, store-fulfilled delivery sales increased more than 40%, and the number of average weekly eCommerce customers rose more than 20%. Globally, eCommerce sales increased 23%.
Those digital baskets are broad. Furner said fast-delivery orders include fresh and frozen food, pharmacy, fashion and general merchandise. U.S. fast delivery grew 48%, and 70% of eCommerce orders are now delivered the same day or faster.
Automation is becoming part of the machinery behind the actual transactions. More than 50% of eCommerce fulfillment volume now moves through automated facilities, while 3,100 U.S. stores receive some level of automated freight. Walmart said automation is helping streamline inventory flow as stores handle both traditional shopping and digital fulfillment. Stores now serve as the last-mile fulfillment point for 80% of eCommerce orders and all fast deliveries.
Membership is reinforcing that shopping frequency. Walmart+ membership grew at a double-digit rate in the U.S., while Sam’s Club U.S. membership increased nearly 6%. Rainey said Walmart members spend about four times as much as nonmembers.
For the rest of the year, Walmart expects affordability to keep feeding the top line. It raised its full-year sales growth forecast to 4% to 5%, from 3.5% to 4.5%, and said it expects slightly stronger second-half sales than previously forecast as the price investments attract additional spending.
JPMorgan zvýšil výhled čistého úrokového výnosu na rok 2026 na zhruba 105,5 miliardy USD z dřívějších 103 miliard USD. Podpořil to růst průměrných úvěrů o 10 % a vkladů o 7 % meziročně ve 2. čtvrtletí.
Key Takeaways JPMorgan raises its 2026 NII outlook to about $105.5B from the prior target of roughly $103B.Average loans rose 10% and deposits increased 7% year over year in the second quarter, supporting NII.JPM also lifts its 2026 adjusted expense forecast to about $107.5B on higher activity-driven costs. JPMorgan (JPM - Free Report) raised its 2026 net interest income (NII) outlook after a strong second quarter, signaling that balance sheet growth is helping offset what was previously expected to be a more pronounced rate-driven headwind. The update comes at a time when the Federal Reserve has paused its easing cycle and adopted a more hawkish tone, citing persistent inflation pressures.
The bank now expects NII of about $105.5 billion, up from the previously targeted $103 billion. NII excluding Markets is projected at approximately $96.5 billion compared with the earlier estimate of $95 billion. The upward revision is notable because it suggests JPMorgan is less exposed to near-term rate uncertainty than initially assumed.
The macro backdrop is important here. With the Fed signaling that rates may stay higher for longer or even move higher if inflation re-accelerates, banks face a more complex environment. While higher rates can support asset yields, they also risk slowing loan demand and increasing deposit competition. JPMorgan’s guidance implies that strong loan growth and resilient deposit inflows are currently outweighing those pressures.
In the second quarter, average loans rose 10% year over year and deposits increased 7%, helping stabilize NII even as earlier expectations assumed rate cuts would weigh on earnings. Growth in card revolving balances and wholesale lending also provided support. However, the higher NII outlook will not fully translate into profit expansion. JPM also raised its 2026 adjusted expense forecast to about $107.5 billion, reflecting higher activity-driven costs.
The revised outlook highlights JPMorgan’s ability to generate earnings resilience in a “higher-for-longer” rate environment. Still, the key variables for investors remain the Fed’s inflation response, deposit pricing dynamics, and whether loan growth can continue if financial conditions tighten further.
How are JPMorgan’s Peers Faring in Terms of NII?Two peers of JPMorgan are Citigroup (C - Free Report) and Bank of America (BAC - Free Report) .
Citigroup’s NII recorded a three-year CAGR of 6.2% through 2025, with the uptrend continuing in the first half of 2026. The company continues to witness solid growth in loan and deposit balances. Citigroup expects NII, excluding Markets, to increase 5-6% in 2026, supported by loan growth and stabilizing funding dynamics.
Bank of America is well-positioned to deliver continued growth in NII. Over 2020–2025, NII witnessed a CAGR of 6.7%, with the momentum extending into the first half of 2026. Bank of America expects 2026 NII (FTE) to grow at the upper end of the 6-8% range, reflecting confidence in the durability of this revenue stream.
JPMorgan’s Price Performance, Valuation and EstimatesJPM’s shares have gained 10.9% so far this year.
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From a valuation standpoint, JPMorgan trades at a 12-month trailing price-to-tangible book (P/TB) of 3.33X, above the industry average.
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The Zacks Consensus Estimate for JPMorgan's 2026 earnings suggests a 22.6% rise on a year-over-year basis, while 2027 earnings are expected to grow at a rate of 0.3%. In the past month, earnings estimates for 2026 and 2027 have moved upward to $24.93 and $25.02, respectively.
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JPMorgan currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In May 2023, Johnson & Johnson (JNJ -1.07%) finalized the spin-off of its healthcare division, now called Kenvue. The decision to do so was largely motivated by management's desire to focus the company's efforts toward advancing its pharmaceutical segment. Narrowing its focus to pharmaceuticals and medical technology products has seemed like the right call. As of this writing, Johnson & Johnson's share price is up 55.5% over the past year compared to the S&P 500's 20.7% return.
That strong stock price performance is tied to momentum related to strong performances from some of its newer drugs, optimism about recent FDA approvals and clearances, and an improved outlook. It's likely to continue, as J&J management recently offered an 11-word phrase during its 2026 second-quarter earnings call that hinted at bullish news in the year ahead.
Image source: The Motley Fool.
New drugs, new revenue opportunities Johnson & Johnson is building a portfolio of new drugs to help offset the loss of some patent protections for Stelara, which is approved to treat multiple ailments. That blockbuster drug accounted for 11.7% of its total sales in 2024, generating $10.3 billion in revenue for the company. Biosimilar versions of Stelara were approved for entry into the European and United States markets in 2025, and Stelara sales plummeted to roughly $6 billion in 2025.
The second quarter of 2026 showed some progress in offsetting the decline in Stelara sales with other drugs. The company reported that revenue climbed 6.6% from the prior-year period to $25.3 billion. Sales growth was primarily driven by its innovative medicines segment (often called its pharmaceutical unit), with reported revenue of nearly $16.4 billion.
Tremfya, a drug for inflammatory bowel disease and psoriasis, saw sales increase 72.5% year over year to $2 billion. Darzalex, used to treat patients with a rare form of blood cancer, reached $4.2 billion in sales.
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Based on the company's Q2 earnings call, management was especially happy about three newer drugs.
"We are pleased with the progress of our new launches including Icotyde, Inlexzo and Rybrevant instilling confidence that momentum will accelerate into 2027 and beyond with line of sight to double-digit growth by the end of the decade," CEO Joaquin Duato said during the conference call for the second-quarter earnings report. Duato's comments included an 11-word phrase, noting that the company had a "line of sight to double-digit growth by the end of the decade."
That holds a lot of promise for the company's future as well as the stock's. Sales from newer products can offset the losses experienced when an older drug loses patent protection.
In their own right, these new treatments could be massive sales drivers; one analyst projected that Inlexzo, designed to treat adults with non-muscle-invasive bladder cancer, could reach $2.4 billion in sales by 2028. With a steady pipeline of drugs also in development, Johnson & Johnson has real potential to keep offering strong performance.
That's reassuring news for long-term J&J shareholders.
Target po překonání odhadů za 2. čtvrtletí zůstává pod drobnohledem: Guggenheim zvýšil cílovou cenu na 175 USD, JPMorgan ji snížil na 157 USD. Akcie jsou letos výše o 58,5 %.
Target Corp (NYSE:TGT) beat analyst estimates in the second quarter and the stock is trading at a multi-year high. However, analysts are questioning whether more gains lie ahead or whether the market has already priced in the rebound.
The Target Analysts Guggenheim analyst John Heinbockel maintained a Buy rating on Target stock and raised the price target from $150 to $175. JPMorgan analyst Christopher Horvers maintained a Neutral rating and lowered the price target from $159 to $157. Guggenheim on Target StockThe doubt of a turnaround is gone, but questions on valuation remain, Heinbockel said in a new investor note.
The early stages of the highly contrarian turnaround story, for which we were there, have now run their course, with valuation more consistent with a secular grower, thereby limiting near-term upside potential, Heinbockel explained.
The analyst highlights that Target stock is up 60% since late 2025, outpacing the S&P 500’s 13% gain over the same period.
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"We remain believers in the uniquely positioned brand."
Heinbockel said there is still some "work in progress," but Target is likely a high-single-digit growth company going forward.
JPMorgan on Target StockAfter proving a turnaround, future growth and "visibility on 2027" becomes a focus for Target stock, Horvers said in a new investor note.
"The evidence of TGT’s merchandising improvements and investments to recapture the customer experience is strong," Horvers said.
The analyst said Target is benefiting from tailwinds and is seeing consumer strength, with general merchandise driving increased traffic to stores.
Horvers is cautious on margins, increased investments, and comparable sales going forward, leading to a Neutral rating.
Price ActionTarget is up 0.2% to $159.35 on Thursday versus a 52-week trading range of $83.44 to $161.98. Share prices also hit new 52-week highs on Wednesday. Target shares are up 58.5% year-to-date in 2026.
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Walmart oznámil vyšší celoroční výhled a tržby 187,9 mld. USD i upravený EPS ve výši 0,81 USD překonaly odhady, přesto akcie v úvodu obchodování klesly o více než 7 %.
Walmart delivered exactly what the bulls wanted on paper Thursday morning — a double beat and a raised full-year outlook — and shares promptly fell more than 7% in early trading.
Total revenue of $187.9 billion rose 5.9% and topped the Zacks Consensus Estimate of $186.3 billion, while adjusted EPS of $0.81 crushed the $0.73 consensus by nearly 11%. Management then lifted its fiscal 2027 guidance across the board.
Image Source: StockCharts
None of it mattered. The market looked past the quarter and focused on two things: how Walmart earned those numbers, and what it told investors about the next three months.
The Comp Line Decelerated SharplyWalmart U.S. comparable sales rose 2.6% excluding fuel. That is a solid number in absolute terms, but it represents a meaningful slowdown from the 4.6% posted in the year-ago quarter and from the 4.1% Walmart delivered just last quarter. More uncomfortably, it trailed the 3.8% comp Target posted one day earlier.
The composition is where it gets uncomfortable. Transactions grew 1.5%, down from 3.0% in the first quarter — traffic growth effectively halved in a single quarter. Average ticket rose just 1.1%, unchanged sequentially but well below the 3.1% of a year ago. For a retailer whose entire bull case has rested on winning customers rather than raising prices, that transaction deceleration is the number that will draw scrutiny.
In fairness, there is a legitimate explanation for part of it. Management disclosed a 125-basis-point headwind to comp sales from pharmacy deflation tied to the new maximum fair price regulation effective January 1st. Add that back and the underlying comp lands closer to 3.9%, which reframes the quarter considerably. That is a regulatory pricing effect, not a demand problem — and investors who ignore it will misread the business.
The Profit Beat Was Borrowed From the Second HalfHere is the crux of the selloff. Operating income surged 28.8%, or 17.4% on an adjusted constant-currency basis, and the consolidated gross profit rate expanded 96 basis points. Impressive figures — but Walmart itself told you not to take them at face value.
The company stated plainly that the operating income growth “includes the impact of tariff refunds received, partially offset by price investments in the quarter,” and that “setting aside this net impact, underlying operating income growth was at the top end of our guidance.” Top end of guidance is roughly 8%. Reported was more than double that.
CFO John David Rainey was even more direct: “Our operating income outlook reflects the continued prioritization of tariff refunds received in Q2 into customer experience and price investments in the second half. For this reason, I encourage you to consider Q2 and Q3 performance together to assess the underlying growth of the business.”
That is a CFO telling investors, in plain language, that the second quarter was flattered and the third quarter will be depressed — and to average them. Once you internalize it, an 11% EPS beat stops looking like an inflection.
The Third-Quarter Guide Is the Real ProblemManagement guided third-quarter net sales growth of 3.0% to 3.75% in constant currency, operating income growth of just 2.0% to 4.0%, and adjusted EPS of $0.62 to $0.64. That last figure compares to $0.62 in the year-ago quarter — implying flat to roughly 3% growth. The implied revenue guide of about $185.6 billion sits about 1.4% below where the Street was modeling.
Going from 17.4% adjusted operating income growth to a guided 2.0% to 4.0% is a violent deceleration, even with the tariff-refund explanation and a stated 100-basis-point-plus headwind from the timing shift of Flipkart’s Big Billion Days between the third and fourth quarters. For a stock trading at a substantial premium to the market, a quarter of essentially zero earnings growth is not what shareholders were underwriting.
The raise itself also deserves a closer look. Full-year adjusted EPS guidance moved to $2.80–$2.87 from $2.75–$2.85 — a five-cent bump at the midpoint against an eight-cent quarterly beat. Management effectively banked less than it earned. Capital expenditures were simultaneously raised to approximately 4.0% of net sales from 3.5%, which on a $700-billion-plus revenue base is a substantial increase in spending.
Target Just Outgrew WalmartThe comparison that matters most this week is Target, which reported Wednesday morning and delivered numbers that would have been difficult to imagine a year ago. Comparable sales rose 3.8%, well ahead of the 2.4% Street consensus, driven by traffic growth of 3.6%. Net sales climbed 5.3% to $26.5 billion, with digital comps up 8.7% and same-day delivery up more than 25%.
Set the two side by side. Target (TGT - Free Report) grew comps 120 basis points faster than Walmart (WMT - Free Report) and grew traffic more than twice as fast — 3.6% against 1.5%. For the better part of three years, the prevailing story in mass retail has been Walmart steadily taking share from a struggling Target. This quarter, that reversed.
One important caveat cuts in Walmart’s favor. Target’s headline EPS of $4.11 included $1.65 per share from tariff refunds — roughly 40% of reported earnings. Strip that out and Target earned closer to $2.46, with ex-refund full-year guidance of $8.25 to $9.25 sitting far below the $9.90 to $10.90 headline range. Walmart’s tariff benefit ran through operating income but was largely offset by price investments, leaving its adjusted EPS uninflated.
On an underlying basis, then, the gap narrows considerably. Adjusted for pharmacy deflation, Walmart’s roughly 3.9% comp and Target’s 3.8% are essentially level. Even so, Walmart is no longer the unambiguous winner in mass retail it was twelve months ago.
Read-Through for RetailThree conclusions follow for the broader sector. First, the consumer is intact but increasingly value-driven. Ticket growth has stalled almost everywhere. That favors scale grocers and warehouse clubs and continues to pressure mid-tier discretionary retailers with no price advantage.
Second, tariff refunds are distorting reported profitability across retail. Home Depot (HD - Free Report) , Lowe’s (LOW - Free Report) and Walmart have all now cited IEEPA refunds in the same week. Investors should assume any retailer’s second-quarter margin beat contains some portion of this benefit and adjust accordingly.
Third, the bar has been reset. When the sector’s strongest operator beats by 11%, raises guidance, and still falls 7%, it signals that valuations across quality retail have gotten ahead of the earnings trajectory.
Bottom LineWalmart entered this report with a Zacks Rank #3 (Hold) and a positive Earnings ESP of +0.96% — our model called the beat correctly. The harder question is what happens to estimates now.
The full-year raise argues for modest upward revisions. The third-quarter guide argues for downward revisions to near-term numbers. Those largely offset, which likely keeps the rank anchored.
The long-term story remains genuinely strong: accelerating eCommerce, a 38%-growth advertising business, and expanding membership. But the market has finally drawn a line on paying a premium multiple for growth that depends on one-time tariff recoveries and decelerating traffic. Today’s reaction is not a verdict on the franchise — it is a verdict on the price.
Key Takeaways ExxonMobil's upstream business could benefit as WTI crude trades above $80 per barrel.XOM uses new drilling techniques and AI in the Permian to boost production at lower costs.ExxonMobil's Guyana discoveries and robust output support its production and earnings outlook. West Texas Intermediate (“WTI”) crude is trading at more than the $80-per-barrel mark. The high prices are being driven by ongoing tensions in the Middle East. The U.S. Energy Information Administration (“EIA”) in its latest short-term energy outlook projected WTI at $80.88 per barrel for this year, higher than $65.40 last year. A highly favorable pricing environment for the commodity is likely to continue supporting ExxonMobil Holdings Corporation’s (XOM - Free Report) exploration and production activities, which derive the majority of its earnings.
The company has a massive footprint in the Permian, the most prolific oil and gas play in the United States, and offshore Guyana. In the Permian, the integrated giant has been employing new drilling techniques and artificial intelligence to boost and optimize production volumes at lower cost structures.
In Guyana, XOM has made several oil and gas discoveries, further highlighting its solid production outlook. Robust production from both assets has been aiding its top and bottom lines. In both resources, the breakeven costs are low.
Will CVX & COP Also Gain From High Oil?
Like XOM, Chevron Corporation (CVX - Free Report) and ConocoPhillips (COP - Free Report) will benefit from the ongoing strength in oil prices. Let’s delve a little deeper.
With COP generating a significant proportion of revenues from crude oil, the high price of the commodity is extremely favorable for the leading oil and gas exploration and production company, much like other energy giants such as XOM and CVX.
The upstream energy giant also has low-cost drilling opportunities across the Permian, Eagle Ford and Bakken that could be successfully developed over two decades. Thus, the outlook for ConocoPhillips’ upstream operations looks bright.
Chevron, on the other hand, has been witnessing a growth in production volumes, thanks to its footprint in the Permian – the most prolific basin in the United States. CVX is thus well-poised to gain from prevailing high oil prices.
XOM’s Price Performance, Valuation & Estimates
Shares of XOM have gained 50.8% over the past year compared with the industry’s growth of 43.8%.
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From a valuation standpoint, XOM trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 9.19X. This is above the broader industry average of 5.76X.
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The Zacks Consensus Estimate for XOM’s 2026 earnings hasn’t seen any revisions over the past seven days.
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ExxonMobil currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
General Motors po zveřejnění výsledků za 2. čtvrtletí zvýšil celoroční výhled upraveného EBIT na 14–16 miliard USD a upraveného zisku na akcii na 12–14 USD. Akcie od poslední výsledkové zprávy přidaly asi 3,5 %.
A month has gone by since the last earnings report for General Motors (GM - Free Report) . Shares have added about 3.5% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is General Motors due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.
General Motors Q2 Earnings Surpass ExpectationsGeneral Motors reported second-quarter 2026 adjusted earnings of $3.57 per share, up 41.3% year over year. The figure beat the Zacks Consensus Estimate of $3.13 by 14.06%. Better-than-expected adjusted EBITDA from North America and International segments led to the outperformance.
Revenues increased 1.9% to $48.03 billion and surpassed the consensus estimate of $46.56 billion by 3.15%. Strong pricing, lower costs and disciplined incentives supported results. Global wholesale volume rose to 990,000 vehicles from 974,000 a year earlier.
Adjusted earnings before interest and taxes increased 29.8% year over year to $3.94 billion. The adjusted EBIT margin expanded to 8.2% from 6.4%, reflecting stronger core operating performance.
Price contributed $700 million to the year-over-year improvement in adjusted EBIT, supported by GM’s product portfolio and incentive discipline. Cost performance added $300 million, primarily due to lower warranty expenses, reduced tariff exposure and emissions-related regulatory savings. Commodity inflation, logistics expenses, higher memory-chip costs and manufacturing costs tied to U.S. production onshoring partly offset the gains.
North America Business StrengthensGM North America generated revenues of $39.91 billion, up 1.1% from the prior-year quarter. Wholesale volume was nearly flat at 848,000 units as a 31,000-unit decline in electric vehicle volume was offset by higher internal-combustion-engine vehicle shipments.
The segment’s adjusted EBIT surged 42.7% to $3.45 billion, surpassing the Zacks Consensus Estimate of $3.12 billion. Adjusted EBIT margin improved 250 basis points to 8.6%, aided by pricing, incentive discipline and operating efficiencies. U.S. dealer inventory ended the quarter at 511,000 vehicles, down about 3% year over year and within management’s targeted range of 50-60 days.
International Operations Deliver Mixed ResultsGM International revenues climbed 11% year over year to $3.69 billion, while wholesale volume increased to 142,000 vehicles from 125,000. Strong execution in South America supported the top line, though shipping disruptions reduced wholesale volume in the Middle East.
Adjusted EBIT for the segment declined 6.6% to $190 million, surpassing the consensus mark of $176 million. Meanwhile, GM’s China joint ventures generated equity income of $83 million, up 16.9%. The China business delivered its seventh consecutive profitable quarter, supported by cost efficiencies and product-mix optimization.
Finance Arm Faces Cost PressureGM Financial revenues edged up to $4.27 billion from $4.26 billion. Higher net financing revenues and insurance premiums supported results.
However, adjusted earnings before taxes fell 14% to $605 million. Increased lease depreciation, higher costs related to insurance operations and a larger provision for loan losses offset the revenue benefits. GM Financial paid a $250 million dividend to its parent during the quarter, bringing first-half dividends to $900 million.
Digital Business Keeps ScalingOnStar ended the quarter with deferred revenues of $6.3 billion, up nearly 50% year over year. Recognized revenues reached $800 million, increasing more than 20%. The company remained on track to add about 1 million subscribers in 2026.
Super Cruise recognized revenues grew roughly 70%, and GM added about 70,000 subscribers during the quarter. The company expects to exceed 850,000 Super Cruise subscribers by year-end, while the attach rate after the three-year prepaid period remained in the 30-40% range.
Cash Flow Supports Shareholder ReturnsAutomotive operating cash flow increased 9% to $5.07 billion. Adjusted automotive free cash flow jumped 78% to $5.03 billion, driven by higher automotive earnings, tariff reimbursement timing and lower capital spending.
Capital expenditures totaled $1.92 billion in the quarter. GM repurchased $2 billion of stock and retired approximately 24.9 million shares. The company also distributed about $200 million in dividends. Automotive cash and marketable securities totaled $19.7 billion at quarter-end, while automotive liquidity was $33.6 billion.
2026 Outlook LiftedGeneral Motors raised its full-year adjusted EBIT guidance to $14-$16 billion from $13.5-$15.5 billion. Adjusted earnings are now projected at $12-$14 per share, up from the prior range of $11.50-$13.50.
The company also increased its adjusted automotive free cash flow forecast to $9.5-$11.5 billion from $9-$11 billion. GM continues to expect an 8-10% adjusted EBIT margin in North America and capital spending, including battery joint-venture investments, of $10-$12 billion.
Management attributed the improved outlook to strong pricing and warranty performance, along with a slightly better commodity-cost environment. The board also declared a quarterly dividend of 18 cents per share, to be paid out on Sept. 17, 2026, to shareholders of record as of Sept. 4.
How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended upward during the past month.
The consensus estimate has shifted 5.57% due to these changes.
VGM ScoresCurrently, General Motors has a nice Growth Score of B, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of A on the value side, putting it in the top 20% for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, General Motors has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Qualcomm za posledních 12 týdnů klesl o 30,6 % kvůli slabosti v mobilech a tlaku na marže. Automobilové tržby ale vzrostly o 61 % na rekordních 1,59 mld. USD.
Key Takeaways Qualcomm shares fell 30.6% in 12 weeks as handset weakness and near-term margin pressure weighed.Qualcomm's auto revenue rose 61% to a record $1.59B, with a $7B fiscal 2026 annualized sales exit target.Qualcomm targets $5B in fiscal 2027 data center revenue, though initial custom silicon may dilute margins. Qualcomm Incorporated (QCOM - Free Report) shares have declined 30.6% over the past 12 weeks, sharpening the debate over whether handset weakness and near-term margin pressure outweigh faster growth in newer businesses.
Automotive, Internet of Things and data center programs are broadening the revenue mix. The question is whether that diversification can offset mobile pressures quickly enough to make the pullback more attractive.
QCOM's Handset Slump Keeps the Core Under PressureQualcomm CDMA Technologies (QCT) handset revenues fell 20% year over year to $5.09 billion in the fiscal third quarter of 2026 as original equipment manufacturers reduced chipset purchases and worked down inventory amid memory supply constraints and higher memory prices.
Qualcomm expects fiscal 2026 QCT Android handset revenues to decline about 20%, with an annual earnings impact exceeding $1.50 per share. Apple Inc. (AAPL - Free Report) has already introduced its first internally designed cellular modem, the C1, in the iPhone 16e. Qualcomm also expects its share of the upcoming iPhone launch to be materially below its prior 20% assumption.
Qualcomm's Auto Ramp Offers a CounterweightQCT automotive revenues jumped 61% year over year to a record $1.59 billion in the latest quarter. Qualcomm raised its fiscal 2026 exit outlook for annualized automotive sales to about $7 billion, supported by higher compute content and new vehicle launches.
Stellantis N.V. (STLA - Free Report) expanded its multi-year collaboration with Qualcomm in May 2026 to use Snapdragon Digital Chassis solutions across cockpit, connectivity and driver-assistance systems. Qualcomm's broader platform wins with Stellantis and BMW support management's view that automotive growth is shifting from individual sockets toward multi-generation engagements.
QCOM's Data Center Push Adds Upside and Margin RiskTwo custom silicon engagements with global-scale hyperscalers are expected to begin generating revenues in the December 2026 quarter, with wafer production already underway. Qualcomm targets $5 billion of data center revenues in fiscal 2027 and $15 billion in fiscal 2029.
The early ramp carries a profitability trade-off. Management expects initial custom silicon revenues to dilute QCT gross margin by 1.5-2 percentage points, even as pricing actions are intended to offset higher input costs over the next couple of quarters.
Qualcomm's Valuation Looks Cheaper Than Its HistoryQCOM trades at 4.0X trailing 12-month enterprise value-to-sales, below its five-year median of 4.1X. Its 15.9X forward 12-month price-to-earnings multiple is also below the five-year median of 16.6X.
The discount offers some valuation support, but it does not remove execution risk. Handset uncertainty, customer insourcing and rising investment spending leave investors weighing a cheaper multiple against a changing earnings mix.
QCOM's Signals Still Favor PatienceThe pullback has made Qualcomm less expensive relative to its own history, while automotive and data center targets offer meaningful diversification potential. Near-term handset weakness and margin dilution, however, keep the risk-reward balance mixed.
QCOM currently carries a Zacks Rank #3 (Hold). Its Value Score of C is less supportive than the preferred A or B grades, while its Growth Score of D, Momentum Score of F and VGM Score of F are weaker within the A-to-F scale. That combination supports patience until earnings and price trends strengthen.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Qualcomm čeká, že tržby mimo segment handsetů ve fiskálním roce 2027 porostou o více než 60 %, ale hrubá marže ve 4. čtvrtletí klesne na 23 % až 25 % kvůli vyšším nákladům a slabším tržbám.
Key Takeaways Qualcomm expects non-handset revenue growth to top 60% in fiscal 2027 as diversification accelerates.QCOM expects its modem share in the upcoming iPhone launch to be materially below its prior 20% assumption.Qualcomm guides for a 23%-25% fiscal Q4 segment margin as higher costs and lower revenues weigh on profit. Qualcomm Incorporated (QCOM - Free Report) is moving deeper into automotive, Internet of Things and data center computing as its handset business weakens. That creates a clearer diversification story, but it also raises the bar for execution.
The investment question is whether faster non-handset growth can offset Apple exposure, softer mobile economics and near-term margin pressure quickly enough to support a stronger buy case.
Qualcomm's Diversification Case Is StrengtheningCombined Qualcomm CDMA Technologies automotive and Internet of Things revenues grew 28% year over year in the fiscal third quarter of 2026. Management expects non-handset revenue growth to accelerate from 24% in fiscal 2026 to more than 60% in fiscal 2027.
Non-handsets are expected to represent more than half of Qualcomm CDMA Technologies revenues in fiscal 2027. Stellantis N.V. (STLA - Free Report) expanded its multi-year technology collaboration with Qualcomm in May 2026 across cockpit, connectivity and driver-assistance systems, adding another example of how vehicle programs can support the shift beyond smartphones.
QCOM Faces a Steep Apple and Handset ResetQualcomm expects its modem share in the upcoming iPhone launch to be materially below its prior 20% assumption. Apple product revenues are expected to fall about 50% sequentially from the September to December 2026 quarters, while fiscal 2027 Apple product revenues are expected to come in below the prior outlook of slightly more than $2 billion.
Apple Inc. (AAPL - Free Report) has introduced the C1, its first internally designed cellular modem, in the iPhone 16e. Qualcomm expects fiscal 2027 non-handset growth to replace fiscal 2026 Apple product revenues, but that substitution depends on newer businesses scaling as planned.
Qualcomm's New Growth Comes With Margin CostsQualcomm CDMA Technologies' earnings-before-taxes margin fell to 26% in the fiscal third quarter from 30% a year earlier. Qualcomm guides for a 23%-25% margin in the fiscal fourth quarter as higher product costs and lower revenues weigh on profitability.
Investment is also rising ahead of the data center ramp. Research and development spending increased $381 million to $2.61 billion in the latest quarter, while early custom silicon revenues are expected to dilute the segment's gross margin by 1.5-2 percentage points.
QCOM Trades at a Discount to Its Own HistoryQCOM trades at 4.0X trailing 12-month enterprise value-to-sales, below its five-year median of 4.1X. Its 15.9X forward 12-month price-to-earnings multiple is also below the five-year median of 16.6X.
The discount offers some valuation support, but it is not unusually wide. The Zacks Consensus Estimate points to higher revenues in fiscal 2027 than in fiscal 2026, while earnings per share are expected to decline, leaving the stock dependent on diversification delivering enough growth to offset margin and handset pressure.
Qualcomm's Scores Keep the Case BalancedThe buy case is improving as automotive, Internet of Things and data center opportunities become more meaningful. Handset weakness, Apple insourcing and near-term margin dilution still keep the risk-reward balance from looking decisively favorable.
QCOM currently carries a Zacks Rank #3 (Hold). Its Value Score of C sits in the middle of the A-to-F scale, while its Growth Score of D, Momentum Score of F and VGM Score of F are weaker. Those readings do not provide the favorable A or B Style Score confirmation typically sought alongside top-ranked stocks.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Travelers ve 2. čtvrtletí 2026 vykázala 1,68 miliardy USD předzdaněného pojistně-upisovacího zisku a zlepšila underlying combined ratio na 84,1 % z 84,7 % před rokem. Čistý investiční výnos vzrostl meziročně o 14 %.
Key Takeaways Travelers generated $1.68 billion of pre-tax underlying underwriting income in Q2 2026. TRV's underlying combined ratio improved to 84.1% in Q2, reflecting pricing and disciplined underwriting. Net investment income rose 14% year over year, providing a second major earnings engine for Travelers. The Travelers Companies, Inc. (TRV - Free Report) has established strong and relatively consistent underwriting profitability, making underwriting income an important driver of its overall earnings. Its underwriting profitability is supported by disciplined pricing, risk selection and improving claims experience across its insurance businesses.
Travelers' ability to maintain an underlying combined ratio in the mid-80% range reflects disciplined underwriting, pricing adequacy and risk selection. In the second quarter of 2026, Travelers generated $1.68 billion of pre-tax underlying underwriting income, while its underlying combined ratio improved to 84.1% from 84.7% a year earlier. For the first six months of 2026, the underlying combined ratio remained strong at 84.7%, demonstrating that profitability was not solely dependent on lower catastrophe losses. The company has benefited from earned pricing and disciplined underwriting.
Its Personal Insurance, Business Insurance, and Bond & Specialty Insurance businesses diversify its exposure to individual risks. This makes it easier for strong results in one business to offset pressure in another.
Strong underwriting profitability works alongside Travelers' large investment portfolio. In the second quarter of 2026, net investment income increased 14% year over year, providing a second major earnings engine.
Travelers is likely to sustain above-average underwriting profitability because its results are increasingly supported by structural factors like pricing discipline, sophisticated risk selection, expense efficiency, and diversified underwriting, rather than simply favorable catastrophe experience.
Travelers’ strong underwriting profitability provides a durable earnings engine, but investors should monitor claims inflation, catastrophe losses, pricing moderation, and expense trends. The company expects its full-year 2026 underwriting expense ratio to be around 28.5%, indicating continued focus on efficiency.
What About Its Peers?Chubb Limited’s (CB - Free Report) profitable underwriting directly increases its earnings. Chubb Limited benefits from both underwriting income and investment income. Consistent underwriting profits increase the amount of capital Chubb Limited can retain within the business. This supports balance-sheet strength, business expansion and investments in technology, data and AI.
RLI Corp.’s (RLI - Free Report) decentralized underwriting model supports strong underwriting profitability by giving individual business units significant autonomy to assess risks, price policies and select accounts based on specialized expertise. Underwriting profit is a core earnings driver and competitive advantage for RLI because it allows the company to generate profits directly from its insurance operations, rather than relying primarily on investment income.
TRV’s Price PerformanceShares of TRV have gained 31.7% in the past year, outperforming the industry.
Image Source: Zacks Investment Research
TRV’s OvervaluationThe stock is overvalued compared with its industry. It is currently trading at a price-to-book value multiple of 2.28, higher than the industry average of 1.41. It carries a Value Score of B.
Image Source: Zacks Investment Research
Estimate Movement for TRVThe Zacks Consensus Estimate for TRV’s third-quarter and fourth-quarter 2026 EPS has moved up 3% and 2.4%, respectively, in the past 30 days. The same for the full-year 2026 and 2027 EPS has moved up 9.8% and 2.7%, respectively, in the past 30 days.
The consensus estimates for TRV’s 2026 EPS and 2027 revenues indicate a year-over-year increase.
Image Source: Zacks Investment Research
TRV stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Synopsys ve 2. čtvrtletí fiskálního roku 2026 zvýšil výnosy z Design IP o 12 % mezičtvrtletně na 454,2 milionu USD. PCIe 7.0 IP měl přes 90% úspěšnost a získal 18 nových licencí.
Key Takeaways Synopsys' Design IP revenues rose 12% sequentially to $454.2 million in fiscal Q2 2026.PCIe 7.0 IP posted a greater-than-90% win rate and secured 18 new licenses in the quarter.SNPS is focusing resources on AI-driven demand and hyperscaler customization for high-value IP opportunities. Synopsys’ (SNPS - Free Report) Design IP business provides a broad portfolio of semiconductor intellectual property, including logic libraries, embedded memories, wired interface IP, memory interface IP, security IP and embedded processors, increasing customer productivity and reducing design risk.
Synopsys holds a leading position in interface and foundation IP. The business is increasingly focused on areas that benefit from AI-driven semiconductor complexity. Synopsys said demand for high-speed interconnect IP is accelerating because of AI’s massive data requirements.
In the second quarter of fiscal 2026, SNPS’ PCIe 7.0 IP achieved a win rate exceeding 90% and secured 18 new licenses. The company also secured additional UCIe design wins, completed a 64G tapeout on a 2nm process and surpassed 150 lifetime UCIe wins. In memory IP, Synopsys reported design wins across hyperscalers, AI startups and leading semiconductor companies and delivered an HBM4 IP test chip.
Design IP generated $454.2 million in the second quarter of fiscal 2026, accounting for 20% of the company’s revenue. Revenues increased 12% sequentially, while adjusted operating margin was 24.4%. Management expects muted IP growth for fiscal 2026 but believes the segment has begun recovering.
Its strategy is to focus resources on the highest-value opportunities aligned with AI demand and hyperscaler customization, with deeper customer collaboration and customized IP solutions.
How Competitors Fare Against SNPSSynopsys operates in a highly competitive market, with major rivals including Cadence Design Systems Inc. (CDNS - Free Report) and Keysight Technologies (KEYS - Free Report) . These companies serve different stages of the electronic and IC design lifecycle, offering specialized tools and solutions that help customers improve product development, design efficiency and testing.
Keysight Technologies competes primarily in electronic design, measurement and testing, with software and solutions covering areas such as electromagnetic analysis, circuit simulation and hardware verification. Meanwhile, Cadence Design Systems is benefiting from rising design complexity and growing customer investments in AI-powered automation.
Cadence is also strengthening its position through its expanding Cadence.ai portfolio. New offerings, including AgentStack, ChipStack, ViraStack and InnoStack AI Super Agents, are broadening the company’s AI capabilities across the design workflow and could help Cadence maintain its momentum as AI adoption accelerates.
SNPS’ Price Performance, Valuation and EstimatesShares of SNPS have lost 15.7% year to date compared with the Computer - Software industry’s decline of 6%.
SNPS YTD Performance Chart
Image Source: Zacks Investment Research
From a valuation standpoint, SNPS trades at a forward price-to-sales ratio of 7.32X, lower than the industry’s average of 11.08X.
The Zacks Consensus Estimate for SNPS’ fiscal 2026 earnings is pegged at $14.80, indicating 14.6% year-over-year growth. Estimates have remained unchanged for the past 30 days.
Image Source: Zacks Investment Research
SNPS currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Genuine Parts za poslední měsíc přidala 11,8 % po silných výsledcích za 2. čtvrtletí, kdy upravený zisk na akcii i tržby překonaly odhady. Společnost zároveň potvrdila výhled upraveného zisku na akcii pro rok 2026 na 7,50–8 USD.
It has been about a month since the last earnings report for Genuine Parts (GPC - Free Report) . Shares have added about 11.8% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Genuine Parts due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Genuine Parts Company before we dive into how investors and analysts have reacted as of late.
Genuine Parts Beats Q2 Earnings EstimatesGenuine Parts reported second-quarter 2026 adjusted earnings of $2.15 per share, beating the Zacks Consensus Estimate of $2.10 by 2.38%. The bottom line increased 2.4% from $2.10 in the year-ago quarter.
Revenues rose 6% year over year to $6.54 billion and surpassed the consensus estimate of $6.39 billion by 2.36%. Comparable sales increased 3.4%, led by strong demand in the Industrial business, while acquisitions and favorable currency movements also supported growth.
Sales Growth Broadens Across OperationsThe revenue increase included a 1.2% contribution from acquisitions and a 1.4% favorable foreign currency impact. Growth was recorded across North America Automotive, International Automotive and Industrial, reflecting a broad-based improvement in demand.
Adjusted gross margin expanded 20 basis points to 37.9%. However, adjusted selling, administrative and other expenses represented 29.1% of sales, up from 28.7% a year earlier, partly offsetting the gross-margin benefit.
Industrial Arm Sets the PaceIndustrial sales advanced 7.1% year over year to $2.41 billion. Comparable sales climbed 6.1%, while favorable currency movements added 0.8% and acquisitions contributed 0.2%.
The segment generated EBITDA of $316 million, up 9.8% from the prior-year period. EBITDA margin expanded 30 basis points to 13.1%. Growth was recorded in 11 of 14 end markets, while 10 markets improved sequentially. Maintenance, repair and operations sales grew approximately 7%, supported by large corporate accounts and small and medium-sized local customers.
Automotive Results Show Mixed MarginsNorth America Automotive sales increased 3.8% to $2.54 billion, driven by a 2.6% comparable-sales gain and a 1.3% acquisition contribution. Segment EBITDA rose 6% to $208 million, while EBITDA margin improved 20 basis points to 8.2%.
Company-owned stores in the United States delivered comparable-sales growth of approximately 4%, including roughly 5.5% growth in the commercial business. The Benson acquisition also remained ahead of the company’s financial and operational targets.
International Automotive revenues rose 8.2% to $1.59 billion. Foreign currency contributed 4.9%, acquisitions added 2.7% and comparable sales increased 0.6%. Segment EBITDA improved 6% to $150 million, but margin contracted 20 basis points to 9.4%. Europe improved sequentially, particularly in the United Kingdom and Germany.
GPC Absorbs Restructuring CostsGAAP net income declined to $228 million, or $1.65 per share, from $255 million, or $1.83 per share, a year earlier. The difference between GAAP and adjusted results reflected $69 million of after-tax adjustments tied to restructuring and separation activities.
Adjusted net income rose to $296 million from $292 million in the year-ago period. Adjusted EBITDA increased 3.6% year over year to $567 million, though adjusted EBITDA margin declined 20 basis points to 8.7%.
Restructuring and other costs totaled $76 million before taxes, while separation costs were $16 million. GPC remains on track to separate its Global Automotive and Global Industrial businesses into two publicly traded companies in the first quarter of 2027.
2026 OutlookGPC reaffirmed its 2026 adjusted earnings guidance of $7.50-$8 per share and total sales growth outlook of 3-5.5%. The company reduced its GAAP earnings forecast to $5.90-$6.40 per share from the previous estimate of $6.10-$6.60. North America Automotive sales growth is now expected at 2.5-4.5%, down from the previous estimate of 3-5%, while International Automotive growth was raised to 5-8% from the previous estimate of 3-6%. Industrial sales growth remains projected at 3-6%.
Cash and LiquidityCash from operations totaled $464 million in the first half of 2026, up from $169 million a year earlier. Free cash flow was $259 million against negative $80 million in the prior-year period.
Genuine Parts ended June with $2.3 billion of liquidity, including $559 million in cash. Year-to-date capital expenditures were $205 million, acquisition spending totaled $38 million and cash dividends reached $288 million. The company continues to expect full-year operating cash flow of $1-$1.2 billion and free cash flow of $550-$700 million.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.
VGM ScoresAt this time, Genuine Parts has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Genuine Parts has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Stanley Black & Decker v 2. čtvrtletí 2026 zvýšila organické tržby divize Engineered Fastening o 3 %, tažené hlavně automobilovým a průmyslovým segmentem. Program snižování nákladů přinesl zhruba 2,1 mld. USD v úsporách před zdaněním.
Key Takeaways Stanley Black & Decker's Engineered Fastening segment posted 3% organic revenue growth in Q2 2026.Automotive sales rose 2% and industrial sales grew 7% organically in the second quarter.SWK's cost program delivered roughly $2.1B in pre-tax run-rate savings, supporting profitability gains. Stanley Black & Decker, Inc. (SWK - Free Report) has been witnessing solid growth in the Engineered Fastening segment, driven by persistent strength across the automotive and industrial markets.
The automotive market continued to perform well, driven by healthy global fastener system sales, and generated 2% organic growth in the second quarter of 2026. Also, the industrial market posted 7% year-over-year organic growth in the quarter. In the second quarter of 2026, the segment’s revenues grew 3% on an organic basis year over year. For 2026, the company expects the segment’s revenues to grow in the low-to-mid single-digit range, supported by volume leverage and continued operational improvements.
SWK completed its multi-year global cost-reduction program in the fourth quarter of 2025, implementing initiatives to resize the organization, optimize inventory, streamline the supply chain and improve profitability. The program achieved its financial targets, having generated roughly $2.1 billion in pre-tax run-rate savings, including incremental savings of $120 million in the fourth quarter of 2025. Approximately $1.5 billion of savings came from core supply-chain initiatives, including operational excellence, material productivity and complexity reduction. These actions are expected to support continued profitability improvement and strengthen SWK’s segment’s financial performance in the coming quarters.
Segment Snapshot of SWK’s PeersRBC Bearings Incorporated (RBC - Free Report) is witnessing strength in the Industrial segment. RBC Bearings segment’s revenues increased 8.4% year over year to $294.1 million in the first quarter of fiscal 2027. RBC’s segment accounted for 56.6% of total quarterly sales, maintaining its position as the company’s largest revenue contributor.
IDEX Corporation (IEX - Free Report) is benefiting from strength in the Fluid & Metering Technologies (FMT). An increase in demand for products across the municipal water end market has been proving beneficial for IDEX’s FMT segment. Higher demand for mining application solutions also bodes well for the segment.
SWK’s Price Performance, Valuation and EstimatesShares of Stanley Black have gained 13.1% in the past month compared with the industry’s growth of 9%.
Image Source: Zacks Investment Research
From a valuation standpoint, SWK is trading at a forward price-to-earnings ratio of 16.78X, below the industry’s average of 16.42X. Stanley Black carries a Value Score of B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for SWK’s 2026 earnings has increased 4.3% over the past 60 days.
Image Source: Zacks Investment Research
Stanley Black currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nordson Corporation (NDSN) Q3 2026 Earnings Call August 20, 2026 8:30 AM EDT
Company Participants
Matthew Matejka
Sundaram Nagarajan - President, CEO & Director
Daniel Hopgood - Executive VP & CFO
Conference Call Participants
Michael Halloran - Robert W. Baird & Co. Incorporated, Research Division
Jeffrey Hammond - KeyBanc Capital Markets Inc., Research Division
Matt Summerville - D.A. Davidson & Co., Research Division
Christopher Glynn - Oppenheimer & Co. Inc., Research Division
Edward Magi - BNP Paribas, Research Division
Presentation
Operator
Hello, everyone. Thank you for joining us, and welcome to the Nordson Corporation Third Quarter Fiscal Year 2026 Conference Call. [Operator Instructions]
I will now hand the conference over to Matt Matejka of Nordson. Matt, please go ahead.
Matthew Matejka
Thank you. Good morning. This is Matt Matejka, Senior Director of Investor Relations. I'm here with Sundaram Nagarajan, our President and Chief Executive Officer; and Dan Hopgood, Executive Vice President and Chief Financial Officer. We welcome you to our conference call today, Thursday, August 20, to report Nordson's fiscal 2026 third quarter results. You can find both our press release as well as our webcast slide presentation that we will refer to during today's call on our website at www.nordson.com/investors.
This conference call is being broadcast live on our investor website and will be available there for 30 days. During this conference call, we will make references to non-GAAP financial metrics. We've provided a reconciliation of these metrics to the most comparable GAAP metric in the press release issued yesterday. Before we begin, please refer to Slide 2 of our presentation, where we note that certain statements regarding our future performance that are made during this call may be forward-looking based upon Nordson's current expectations. These statements may involve a number of risks, uncertainties and other factors as discussed in the company's filings with the Securities and Exchange Commission that
Realty Income se dál odklání od retailu: průmyslové nemovitosti tvořily ve 2. čtvrtletí 65 % globálního investičního příjmu z nájemného. Firma zároveň rozšiřuje portfolio v Evropě, datových centrech a herních aktivech.
Key Takeaways Realty Income is diversifying beyond retail, with industrial now a key driver of investment cash income.Industrial properties contributed 65% of global investment cash income in the second quarter.Realty Income is expanding in Europe, data centers, industrial build-to-suits and gaming assets. Realty Income (O - Free Report) remains a retail-heavy REIT, but its growing diversification is becoming an increasingly important strength. Retail accounted for 78.3% of annualized base rent as of June 30, 2026, yet the company owned 15,588 properties leased to 1,798 clients across 92 industries. The company is actively expanding beyond its traditional U.S. retail base into industrial, international real estate, gaming and data centers.
Industrial is emerging as a key diversification driver. While industrial properties currently contribute 16.2% of ABR, they accounted for 65% of global investment cash income in the second quarter. For the first six months of 2026, industrial represented 47.8% of investment cash income compared with 50.3% for retail. This suggests that O’s new investments are becoming significantly less retail-focused than its existing portfolio.
Geographic diversification is also strengthening. The United States accounted for 79.5% of ABR, while the United Kingdom and Continental Europe contributed 15% and 5.5%, respectively. Realty Income has built a European portfolio spanning 671 properties across 44 industries. The company is also creating new diversification opportunities through hyperscale data centers, industrial build-to-suits and gaming assets, expanding its addressable market beyond traditional retail.
This broader strategy could gradually reduce Realty Income’s dependence on retail and U.S. consumer spending. Its retail exposure remains substantial, but the direction of capital deployment is more diversified. Combined with 98.8% occupancy, an 8.6-year weighted-average lease term and 102.7% second-quarter rent recapture, Realty Income’s expanding sector and geographic mix strengthens its defensive profile while preserving the stability of its core portfolio.
How Are Realty Income's Peers Diversifying?Federal Realty Investment Trust (FRT - Free Report) is adding residential development to existing retail properties. Its “Resi-Over-Retail” strategy has about $400 million of residential projects underway, creating mixed-use assets and a new source of growth beyond retail.
Kimco Realty (KIM - Free Report) is diversifying through residential entitlements, redevelopment and structured investments while maintaining its grocery-anchored retail base. Its strategy specifically includes increasing residential-use entitlements and unlocking higher-and-better uses of its real estate.
Realty Income’s Price Performance, Valuation and EstimatesShares of Realty Income have risen 1.2% over the past three months, outperforming the broader industry, but underperforming the S&P 500 Index.
Image Source: Zacks Investment Research
In terms of forward 12-month Price/Earnings (P/E), Realty Income is currently trading at 13.84X, which is at a discount to the industry average of 16.96X.
Image Source: Zacks Investment Research
Realty Income’s estimate revisions reflect a negative trend. The Zacks Consensus Estimate for fiscal 2026 EPS has been revised marginally downward over the past week. The consensus estimate calls for 4% growth year over year.
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Currently, Realty Income carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
, /PRNewswire/ -- Leggett & Platt today announced that its shareholders voted to approve the merger of the Company with Somnigroup International Inc. (NYSE: SGI). The Merger remains subject to a remaining required regulatory approval and we anticipate that the transaction will close upon satisfaction of the remaining closing conditions.
FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements," identified by words such as "expect," "anticipate," "estimate," "believe," or by the context in which they appear, including, but not limited to, the anticipated closing of the Somnigroup transaction upon satisfaction of the remaining closing conditions, including required regulatory approvals. Such statements are expressly qualified by cautionary statements described in this provision and reflect only the beliefs, expectations, and assumptions of the Company at the time the statement is made. Because all forward-looking statements deal with the future, they are subject to risks, uncertainties and developments which might cause actual events or results to differ materially from those envisioned or reflected in any forward-looking statement. Moreover, we do not have, and do not undertake, any duty to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement was made, whether as a result of new information, future events or otherwise, except as required by law. Some of these risks include: risks associated with the Agreement and Plan of Merger, dated April 13, 2026 (as may be amended from time to time, the "Somnigroup Merger Agreement"), by and among Somnigroup International Inc. ("Somnigroup"), Sparrow Unity Corporation, a Missouri corporation and a direct, wholly owned subsidiary of Somnigroup ("Merger Sub") and the Company, pursuant to which, subject to the terms and conditions of the Somnigroup Merger Agreement, Merger Sub will merge with and into the Company (the "Somnigroup Merger"), with the Company surviving the Somnigroup Merger as a direct, wholly owned subsidiary of Somnigroup, including (i) the completion of the Somnigroup Merger is subject to certain conditions that may not be satisfied or waived, including certain governmental and regulatory approvals; (ii) an event, change or other circumstance could give rise to delays in completing the Somnigroup Merger or the termination of the Somnigroup Merger Agreement; (iii) the Company's business relationships (including with Somnigroup and its affiliates) may be subject to disruption due to uncertainty associated with the Somnigroup Merger; (iv) the diversion of management time from ongoing business operations and opportunities as a result of the Somnigroup Merger; (v) failure to complete the Somnigroup Merger could negatively impact the share price and the future business and financial results of the Company; (vi) litigation against the Company could result in substantial costs, an injunction preventing the completion of the Somnigroup Merger and/or a judgment resulting in the payment of damages; (vii) the Company will incur significant transaction and merger-related costs in connection with the Somnigroup Merger; (viii) the possibility that the expected benefits of the Somnigroup Merger are not realized when expected or at all; and (ix) other risks inherent in the Company's and Somnigroup's businesses.
All such factors are difficult to predict, are beyond the Company's and Somnigroup's control and are subject to additional risks and uncertainties, including those detailed in Somnigroup's annual report on Form 10-K for the year ended December 31, 2025 and those detailed in the Company's annual report on Form 10-K for the year ended December 31, 2025 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026. These risks, as well as other risks related to the proposed transaction, are included in the Form S-4 and proxy statement/prospectus that Somnigroup and Leggett & Platt filed with the SEC in connection with the proposed transaction. There may be other factors that may cause the Company's and Somnigroup's actual results to differ materially from the forward-looking statements. The Company does not undertake any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.
FOR MORE INFORMATION: Visit Leggett's website at www.leggett.com.
COMPANY DESCRIPTION: Leggett & Platt (NYSE: LEG) is a diversified manufacturer that designs and produces a broad variety of engineered components and products that can be found in many homes and automobiles. The 143-year-old Company is a leading supplier of bedding components and solutions; automotive seat comfort and convenience systems; home and work furniture components; geo components; flooring underlayment; and hydraulic cylinders for material handling and heavy construction applications.
CONTACT:
Investor Relations, (417) 358-8131 or [email protected]
BlackBerry zvýšila výhled tržeb QNX pro fiskální rok 2027 na 295–312 milionů USD a upravené EBITDA na 74–86 milionů USD po růstu tržeb QNX o 26 % na 72 milionů USD.
Key Takeaways BlackBerry's QNX revenues rose 26% to $72M, while adjusted EBITDA jumped 52% to about $19M.Aptiv cut 2026 revenue guidance by $300M at the midpoint amid production changes and launch delays.BlackBerry raised fiscal 2027 QNX revenue guidance to $295M-$312M and EBITDA guidance to $74M-$86M. The automotive industry is witnessing a shift toward software-defined and increasingly autonomous vehicles.
BlackBerry (BB - Free Report) participates primarily through its QNX automotive operating systems, while Aptiv PLC (APTV - Free Report) is a designer and manufacturer of vehicle components and a provider of electrical, electronic and safety technology solutions to the global automotive market.
BlackBerry and Aptiv offer investors two distinct ways to invest in the automotive tech space. So, now the question arises: Which stock makes for a better investment pick at present? Let’s dive into the pros and cons of each company.
The Case for BBFor BlackBerry, QNX remains the key catalyst, with revenues climbing 26% year over year to $72 million in the first quarter of fiscal 2027. More importantly, QNX's adjusted gross margin expanded 500 basis points to 86%, while adjusted EBITDA jumped 52% to about $19 million.
The segment benefited from broad-based strength, particularly in development licenses, which hit their highest level in eight quarters. This metric serves as an early indicator of future royalty streams, reflecting customer investments in new software platforms that will take years to reach production.
Management emphasized that these tools are mainly tied to new platforms, including its SDP 8 architecture, which positions the company for multi-year revenue visibility. The company’s partnerships with major chipmakers such as NVIDIA and Qualcomm, underscore QNX’s role as a foundational software layer in next-generation intelligent systems.
Beyond automotive, General Embedded Markets is a fast-growing opportunity, expanding QNX’s reach into robotics, industrial automation and medical devices, while Physical AI represents another significant long-term growth avenue.
Additionally, the company continues to advance Alloy Kore, a platform expected to significantly increase software content per vehicle, boost average selling price by multiples and drive backlog. While still early, management remains positive about securing a design win within the current fiscal year.
Following the strong quarter, BlackBerry raised its fiscal 2027 QNX revenue outlook to $295-$312 million and adjusted EBITDA guidance to $74-$86 million.
However, the path is not without challenges. Heavy reliance on the dynamic automotive industry is a concern. The QNX platform remains exposed to vehicle production cycles and OEM spending, which, in turn, are highly dependent on macro conditions. Some of BlackBerry’s most exciting opportunities, such as physical AI, robotics and the Alloy Kore platform, remain in the early stages, introducing execution risk.
Though BB’s other segment, Secure Communications, is rebounding, it remains exposed to deal-timing variability and this could impact performance.
The Case for APTVAptiv’s automotive business remains supported by a healthy pipeline of new programs across some of the industry’s most important technology areas. Aptiv reported progress across next-generation automotive technologies, including full-stack Gen 6 ADAS, driver and cabin monitoring, Gen 8 radar, centralized software-defined vehicle architectures, digital cockpits and high-voltage interconnects.
Aptiv generated $5 billion of new business awards during the second quarter, taking year-to-date awards to $10 billion and keeping the company on track for its $20 billion full-year target.
However, the near-term automotive environment remains challenging. Aptiv reduced its 2026 revenue guidance at the midpoint by $300 million, including roughly $150 million from changes in customer production schedules, $100 million from delayed launches and ramps, and $50 million from the timing of enterprise software and services sales. 2026 revenues are now projected to be $12.6-$12.8 billion, while adjusted EPS is forecast at $5.60-$5.80.
China is a particular concern. Aptiv has successfully increased its business with local Chinese OEMs and grew China revenues 5% in the second quarter, but growth was partly offset by slowdown in production in the domestic market. Weakness in China's domestic automotive market is affecting both local OEM production and European luxury vehicles exported into China.
Nonetheless, adjusted EBITDA margin expanded by 10 basis points in the second quarter despite automotive pressures. Engineered Components performed particularly well, expanding adjusted EBITDA margin by 100 basis points year over year.
Though the company's long-term opportunity remains substantial, auto sector challenges make the near-term trajectory less predictable. Aptiv is focused on business diversification to reduce reliance on auto sector.
Non-automotive revenues increased 12% in the second quarter, with opportunities spanning robotics, drones, aerospace and defense, energy storage, and data centers. Management is confident that robotics and drones can collectively generate roughly $300 million in annual revenues within the next few years. For now, however, those newer businesses remain too small to fully offset weakness in Aptiv's much larger automotive operations.
Price Performance and Valuation for BB & APTVYear to date, BB has registered gains of 120%, while Aptiv is down 35.8%.
Image Source: Zacks Investment Research
In terms of the forward 12-month price/sales ratio, BB is trading at 7.63X, higher than APTV’s 0.77X.
Image Source: Zacks Investment Research
How Does the Zacks Consensus Estimate Compare for BB & APTV?Analysts have lowered earnings estimates both BB and APTV for the current fiscal year in the past 60 days.
BB
Image Source: Zacks Investment Research
APTV
Image Source: Zacks Investment Research
BB or APTV: Which Is a Better PickBB currently holds a Zacks Rank #2 (Buy) and APTV carries a Zacks Rank #5 (Strong Sell).
In terms of the Zacks Rank, BB appears to be a better pick at the moment.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Intuit čeká ve 4. čtvrtletí růst tržeb o 11 % až 12 % a zisk na akcii podle non-GAAP ve výši 3,56 až 3,62 USD. Tahouny mají zůstat TurboTax Live, Credit Karma a Global Business Solutions.
Key Takeaways Intuit's TurboTax Live remains a key catalyst, with fiscal 2026 revenues expected to rise 36% to $2.8B.Intuit's Credit Karma grew 15% in Q3, while fiscal 2026 revenue growth is expected at about 19%.Global Business Solutions is expected to jump 16% in fiscal 2026, with payments and QBO supporting momentum. As Intuit Inc. (INTU - Free Report) prepares to report fourth-quarter fiscal 2026 results, investors will closely watch performance across TurboTax, Credit Karma and Global Business Solutions, which remain key growth drivers for the financial technology company.
In the third quarter, Consumer revenues increased 8% to $5.3 billion. TurboTax revenues rose 7% to $4.4 billion, supported by growing adoption of assisted tax solutions. Intuit expects TurboTax Live revenues to improve 36% to about $2.8 billion for fiscal 2026, while TurboTax Live customers are projected to grow 38%. The offering is expected to account for roughly 53% of total TurboTax revenues. Higher-value customers and increased use of assisted offerings are also expected to drive an approximately 11% increase in TurboTax Online ARPU.
Credit Karma revenues advanced 15% to $631 million in the third quarter, benefiting from strength in personal loans, auto insurance and home loans. Management expects Credit Karma revenues to grow approximately 19% for fiscal 2026.
Global Business Solutions also remains an important growth driver. Revenues increased 15% in the third quarter, while Online Ecosystem revenues grew 19%. QuickBooks Online Accounting revenues climbed 22%, and total online payment volume, including Bill Pay, surged 30%. For fiscal 2026, Intuit expects Global Business Solutions revenues to jump approximately 16%.
For the fourth quarter, Intuit anticipates total revenue growth of 11%-12% and non-GAAP earnings of $3.56-$3.62 per share. The Zacks Consensus Estimate for revenues is pegged at $4.27 billion, and for earnings, estimates stand at $3.59 per share, making sustained momentum across Credit Karma, TurboTax and QuickBooks a key focus.
How INTU’s Competitors Fared?H&R Block (HRB - Free Report) reported fiscal 2026 results with revenues increasing 4.9% to $3.95 billion, while adjusted EPS rose 13.9% to $5.31. Growth was supported by higher pricing and volumes in U.S. assisted tax preparation, international growth, and higher Wave subscription revenues and payments volume.
Paychex (PAYX - Free Report) reported fourth-quarter fiscal 2026 results with quarterly revenues increasing 12% to $1.61 billion, while adjusted EPS grew 11% to $1.32. Management Solutions revenues rose 14%, aided by Paycor, higher product penetration and increased revenue per client.
INTU’s Price Performance, Valuation and EstimatesShares of Intuit have rallied 18.1% over the past three months, outperforming the broader industry and the S&P 500 composite.
Image Source: Zacks Investment Research
In terms of forward 12-month Price/Sales (P/S), Intuit is currently trading at 4.14X, which is at a discount to the industry average of 6.11X.
Image Source: Zacks Investment Research
Intuit’s estimate revisions reflect a negative trend. The Zacks Consensus Estimate for fiscal 2026 EPS has been revised downward by a cent to $23.85 over the past month. The consensus estimate for 2026 calls for 18.4% growth year over year.
Image Source: Zacks Investment Research
Currently, Intuit carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
JPMorgan uvedla, že Broadcom má v AI čipech dál silnou pozici a fiskální AI tržby v roce 2026 mohou přesáhnout 56 miliard USD. Banka zároveň odmítla obavy z problémů kolem Google TPU.
Broadcom Inc. (NASDAQ:AVGO) remains on track for explosive AI revenue growth as its custom chip programs with Alphabet Inc.’s (NASDAQ:GOOGL) Google and other hyperscalers advance, according to JPMorgan.
Analyst Harlan Sur reiterated an Overweight rating on Broadcom on Thursday, saying recent research suggests fiscal 2026 AI revenue could exceed $56 billion. That would represent growth of more than 180% year over year. JPMorgan expects AI revenue to grow another two to 2.5 times in fiscal 2027.
Broadcom Google TPU Roadmap Remains IntactJPMorgan pushed back against concerns about competition and potential disruptions to Broadcom’s Google TPU business.
The firm said Broadcom has started ramping Google’s next-generation 3-nanometer TPU v8i ASIC. It also expects the 2-nanometer TPU v9 to ramp in early 2028.
JPMorgan said an April five-year agreement between Google and Broadcom remains in effect. The deal secures Broadcom’s role across four TPU generations, from v8 through v11. It also includes commitments for rising annual TPU-related revenue through 2031.
The firm said reports of potential TPU v9 delays or cancellations do not match its research. Broadcom has also started early intellectual property design work for the subsequent TPU v10 generation.
AI Networking Demand Outstrips SupplyJPMorgan also pointed to strong demand for Broadcom’s AI networking products. Demand for Tomahawk 5 and the next-generation Tomahawk 6 remains above Broadcom’s supply capacity for this year and next year, the analysts said.
Beyond Google, Broadcom’s custom AI chip programs with Meta Platforms Inc. (NASDAQ:META), OpenAI, Anthropic, ByteDance Ltd., Alibaba Group Holding Limited (NYSE:BABA), SoftBank Group Corp. (OTC:SFTBY)-backed Arm Holdings plc (NASDAQ:ARM), Apple Inc. (NASDAQ:AAPL) and SambaNova Systems Inc. remain in various stages of design, ramp or production, according to the report.
JPMorgan said investors continue to underestimate Broadcom’s position in custom AI silicon. The firm noted that Broadcom has helped Google bring 14 advanced chip designs to market over the past 12 years and reiterated its bullish stance on the stock.
Broadcom Price ActionAVGO Price Action: Broadcom shares were up 0.23% at $363.32 at the time of publication on Thursday, according to Benzinga Pro data.
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Charles Schwab po poslední výsledkové zprávě přidal asi 10 % za měsíc. Ve 2. čtvrtletí překonal odhady díky rekordním tržbám a zisku na akcii 1,62 USD.
It has been about a month since the last earnings report for The Charles Schwab Corporation (SCHW - Free Report) . Shares have added about 10% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Charles Schwab due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Schwab's Q2 Earnings Beat Estimates on Robust Trading & NIRSchwab’s 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.
Quarterly results benefited from robust performance of the asset management business and record trading revenues. Higher net interest revenues 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.
Revenues Rise to 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.
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.
Share Repurchase UpdateDuring the reported quarter, Schwab repurchased 11.2 million shares for $1 billion.
OutlookManagement’s updated 2026 scenario assumes the Fed funds upper bound to end the year at 4%, changed from the previously mentioned 3.75%. Likewise, equity markets are expected to rise 13% from the 2025-end levels, changed from the previously mentioned 10% increase. The updated scenario also includes full-year daily average trades reaching 10.6 million, with organic net asset growth of 5%.
Based on these assumptions, Schwab expects 2026 revenue growth of 17.5-18.5%.
Average interest-earning assets are expected to expand modestly in the year on a year-over-year basis. NIM is expected to expand to 3-3.10% in 2026, with fourth-quarter NIM reaching 3.25-3.30%.
In terms of expenses, Schwab expects adjusted expenses to rise 9.5-10.5% in 2026. Management attributed this to higher volume-related costs tied to strong business performance and trading activity, as well as the inclusion of Forge Global Holdings (acquired in March 2026).
The 2026 adjusted pre-tax margin is expected in the low 50% range.
The company expects high-single-digit to low-double digit revenue growth coupled with positive operating leverage and balance sheet management to result in mid-teens EPS growth through the cycle.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates review.
VGM ScoresCurrently, Charles Schwab has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock has a grade of C on the value side, putting it in the middle 20% for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Charles Schwab has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry PlayerCharles Schwab belongs to the Zacks Financial - Investment Bank industry. Another stock from the same industry, Citigroup (C - Free Report) , has gained 0.5% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
Citigroup reported revenues of $24.77 billion in the last reported quarter, representing a year-over-year change of +14.3%. EPS of $3.15 for the same period compares with $1.96 a year ago.
For the current quarter, Citigroup is expected to post earnings of $2.68 per share, indicating a change of +19.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.6% over the last 30 days.
Citigroup has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
Accenture za měsíc vzrostlo o 26,7 % díky silné poptávce po AI, modernizaci aplikací, cloudu a kyberbezpečnosti. Firma zároveň uzavřela fiskální Q3 2026 s 10,2 mld. USD hotovosti, 5 mld. USD dlouhodobého dluhu a 3% růstem provozního cash flow.
Key Takeaways Accenture stock has risen 26.7% in a month, beating its industry and the S&P 500 Composite.AI demand, app modernization, cloud enablement and cybersecurity are lifting ACN's managed services.ACN ended fiscal Q3 2026 with $10.2B in cash, $5B in long-term debt and 3% operating cash flow growth. Accenture (ACN - Free Report) stock has gained 26.7% in a month, outperforming the industry’s 8.8% growth and the Zacks S&P 500 Composite's 3% return.
1-Month Share Price Performance
Image Source: Zacks Investment Research
Let us delve deeper into the factors that have contributed to the company’s outperformance.
Application Modernization & AI Pave ACN’s Growth PotentialThe worldwide artificial intelligence (AI) boom is driving growth opportunities for ACN. The management recently highlighted growing demand from clients seeking to integrate advanced AI capabilities into core business processes. The company has already employed more than 85,000 AI and data professionals. Moreover, strong demand for application modernization and maintenance, cloud enablement and cybersecurity-as-a-service is boosting Accenture’s managed services business globally, creating a significant growth opportunity.
ACN’s Robust Liquidity ProfileThe company had a cash and cash equivalents balance of $10.2 billion at the end of the third quarter of fiscal 2026 against a total long-term debt of just $5 billion. This solid cash position has been strengthened by 3% year-over-year growth in operating cash flow, providing ACN with sufficient flexibility to pursue opportunities in other markets without straining its short-term debt position.
ACN had a current ratio of 1.34 during the same time frame. Though the figure is lower than the industry benchmark of 1.52, a metric above 1 indicates greater efficiency in paying off short-term obligations, which bolsters investor morale.
Shareholder-Friendly Strategy of ACNIn fiscal 2023, 2024 and 2025, the company distributed $2.8 billion, $3.2 billion and $3.7 billion in dividends, respectively. Such moves reflect ACN’s dedication to enhancing shareholder value and its confidence in the business's long-term potential.
The company repurchased 6 million shares for $1.2 billion in the fiscal third quarter. It paid out $1 billion in dividends or $1.63 per share, reflecting a 10% increase.
ACN’s Zacks Rank & Stocks to ConsiderAccenture currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the broader Zacks Computer and Technology sector are Analog Devices, Inc. (ADI - Free Report) and AMETEK, Inc. (AME - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Analog Devices carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 31%.
ADI delivered a trailing four-quarter earnings surprise of 5.5%, on average.
AMETEK also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 9.4%.
AME beat earnings estimates in each of the trailing four quarters, with an average earnings surprise of 4.9%.
Palo Alto Networks těží z přijetí firemní AI: bookings next-gen firewallů vzrostly téměř o 40 % a zákazníků Prisma AIRS bylo přes 300. XSIAM ARR meziročně vzrostl o 100 %.
Key Takeaways Palo Alto Networks' next-generation firewall bookings grew nearly 40% as AI-related traffic increased.Prisma AIRS customers rose to more than 300, while XSIAM ARR surged 100% year over year.Palo Alto Networks targets more than 4,000 platformized customers and $20 billion in ARR by fiscal 2030. Palo Alto Networks (PANW - Free Report) believes the shift toward enterprise AI adoption is creating new cybersecurity needs across networks, applications, identities and security operations. In the third quarter of fiscal 2026, management said AI is increasing network traffic, creating more machine and AI-agent identities, and allowing attackers to find vulnerabilities and launch attacks faster. PANW is directly benefiting from this trend of strong demand for enterprise AI adoption, which should help the company strengthen its position against cybersecurity rivals, such as CrowdStrike (CRWD - Free Report) and Zscaler (ZS - Free Report) .
The company's Network Security business is already benefiting from higher AI-related traffic. Next-generation firewall bookings grew nearly 40% year over year, while hardware had its best quarter in a decade. Software firewall annual recurring revenues (ARR) also increased 25% year over year as customers expanded capacity to inspect traffic between cloud and AI workloads. PANW reported early wins in AI data centers, including an $80 million deal with a U.S. power producer that selected next-generation firewalls and SASE.
Enterprise AI adoption is also creating opportunities in other parts of PANW's portfolio. Prisma AIRS had more than 300 customers in the third quarter, up from 100 in the second quarter. Management expects the product to reach $100 million in ARR within the next couple of quarters. XSIAM ARR surged 100% year over year, with more than 740 customers, and Observability ARR surpassed $300 million as AI workloads increased the amount of data that companies need to monitor. Further, integration of CyberArk's abilities is also helping PANW address the growing number of machine and AI-agent identities.
These businesses give PANW several ways to benefit from enterprise AI adoption instead of relying on a single product. The company is combining network security, AI security, security operations, identity and observability on a single platform and aims to reach more than 4,000 platformized customers and $20 billion in Next-Generation Security ARR by fiscal 2030. If AI adoption continues to increase demand across these product areas, it could help PANW expand its addressable market and support its long-term ARR target.
How Competitors Fare Against PANWCrowdStrike is also benefiting from rising AI-related cybersecurity demand. CrowdStrike is seeing strong demand for its AI Detection and Response (AIDR) solution. CRWD's AIDR solution is designed to help companies monitor and secure AI applications, agents and workloads as AI adoption grows across enterprises. Management highlighted AIDR as one of the company's fastest-growing products in the first quarter of fiscal 2027. In the first quarter, AIDR's ending ARR grew more than 250% sequentially. Further, AIDR has already secured a pipeline of more than $50 million for the second quarter of fiscal 2027.
Zscaler is seeing strong adoption of its Zero Trust Everywhere strategy, which is helping the company expand beyond its traditional user security offerings. The strategy combines security for users, cloud workloads and branch locations on a single platform. The company ended the third quarter of fiscal 2026 with more than 700 Zero Trust Everywhere enterprises, up from over 550 in the previous quarter. As more customers adopt multiple products across the platform, Zero Trust Everywhere could help Zscaler increase customer spending, win larger deals and support long-term growth.
PANW’s Price Performance, Valuation & EstimatesShares of Palo Alto Networks have jumped 95.3% in the year-to-date period compared with the Zacks Security industry’s appreciation of 79.9%.
PANW’s YTD Price Return Performance
Image Source: Zacks Investment Research
From a valuation standpoint, Palo Alto Networks trades at a forward price-to-sales ratio of 21.17X compared with the industry’s average of 18.29X. The Zacks Value Score of F suggests that PANW stock is overvalued.
PANW Forward 12-Month P/S Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Palo Alto Networks’ fiscal 2026 and 2027 earnings implies year-over-year growth of 12.9% and 8.6%, respectively. The estimates for fiscal 2026 have remained unchanged over the past 30 days, while the same for fiscal 2027 have been revised up by 2 cents over the past 30 days.
Image Source: Zacks Investment Research
Palo Alto Networks currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Spotify ve 2. čtvrtletí zvýšil provozní zisk meziročně o 61 % na 655 milionů EUR a volný cash flow o 14 % na 797 milionů EUR. Akcie SPOT se ale obchodují za 32,08násobek forwardového zisku, nad odvětvovým průměrem 27,33násobku.
Key Takeaways Spotify's 2026 EPS estimate implies 20.3% growth, while Q2 operating income rose 61% y/y.SPOT trades at 32.08X forward earnings versus 27.33X for its industry, raising execution pressure.Spotify's free cash flow grew 14% year over year in Q2 2026 as new products broaden monetization. Spotify Technology S.A. (SPOT - Free Report) is producing faster earnings growth, stronger cash generation and wider monetization opportunities, but the stock's valuation already reflects demanding expectations.
For investors considering whether to buy now, the debate centers on whether margin expansion and revenue growth can keep advancing fast enough to support that premium without leaving the shares exposed to execution setbacks.
Spotify's Earnings Growth Supports the Bull CaseThe Zacks Consensus Estimate for 2026 earnings is $14.30 per share, implying 20.3% growth from 2025. That outlook follows a second quarter in which operating income rose 61% year over year to €655 million and gross margin reached a record 33.4%.
Management's 2030 framework calls for a mid-teens revenue compound annual growth rate, gross margin of 35% to 40% and operating margin above 20%. Reaching those targets would extend the shift from a user-growth story toward a model with greater earnings leverage.
SPOT's Valuation Demands Strong ExecutionSPOT trades at 32.08X forward earnings compared with 27.33X for its industry. That gap leaves less room for subscriber, pricing or margin results to fall short of expectations.
Image Source: Zacks Investment Research
The latest quarter also produced a 7.3% negative earnings surprise, while the 2026 earnings estimate declined 1.5% over the past four weeks. A premium multiple paired with softer estimate revisions makes consistent execution more important to the near-term investment case.
Spotify's Cash Flow Adds Financial FlexibilityFree cash flow reached €797 million in the second quarter, up 14% year over year, and totaled €3.3 billion over the trailing 12 months. The company ended the quarter with €9.4 billion in cash, restricted cash and short-term investments.
Spotify had no debt other than lease liabilities. It also repurchased $662 million of shares year to date through Aug. 3, giving management room to balance growth investment, potential acquisitions and capital returns.
SPOT Faces Content and AI Spending RisksSpotify still depends on licenses from major and minor rights holders, keeping royalty and content economics central to margin performance. Management expects marketing and artificial intelligence initiatives to add about €200 million of operating expenses in 2026.
Competition adds another execution test. Apple Inc. (AAPL - Free Report) offers Apple Music as an ad-free subscription across Apple devices and other platforms. Amazon.com, Inc. (AMZN - Free Report) markets Amazon Music Unlimited with 100 million songs and offline listening, giving consumers another broad subscription alternative.
Spotify's Monetization Runway Still Has DepthSpotify is expanding beyond traditional music subscriptions through audiobooks, artificial intelligence-driven discovery, creator tools, live-event features and advertising. Audiobooks+ has passed $100 million in annual recurring revenue, while audiobook penetration among Premium listeners more than doubled during the year.
Other products are broadening engagement. Prompted Playlists reached 14 million users among the first 100 million offered the feature, while nearly 50 million people use Jam each month. These initiatives could deepen monetization if engagement gains translate into retention, add-ons or advertising demand.
SPOT's Style Scores Favor Growth Over ValueFor investors weighing whether Spotify is worth buying now, the company's earnings growth, cash flow and monetization runway are meaningful positives, but the valuation premium and reinvestment requirements argue for a measured view rather than an aggressive entry thesis.
SPOT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Spotify’s Growth Score of A reflects favorable growth characteristics, while the Value Score of D and Momentum Score of F are less supportive. The VGM Score of C points to a mixed overall profile, consistent with waiting for a more favorable balance between growth, valuation and near-term momentum.
Annaly Capital Management za poslední měsíc přidala asi 5,9 % poté, co ve 2. čtvrtletí překonala odhady zisku dostupného k rozdělení na 79 centů na akcii.
It has been about a month since the last earnings report for Annaly Capital Management (NLY - Free Report) . Shares have added about 5.9% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Annaly due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Annaly Capital Management Inc before we dive into how investors and analysts have reacted as of late.
Annaly Q2 Earnings Beat Estimates, Net Interest Income Improves Y/YAnnaly reported second-quarter 2026 earnings available for distribution (EAD) per average share of 79 cents, which beat the Zacks Consensus Estimate of 75 cents. The figure increased from 73 cents in the year-ago quarter.
NII and net interest margin improved year over year in the reported quarter. Notably, the year-over-year increase in book value per common share (BVPS) was also encouraging. However, higher economic funding costs were concerning.
Net income available to common stockholders was $781.6 million compared with $19.8 million in the year-ago period.
Inside Annaly’s Q2 HeadlinesNII was $488.2 million in the reported quarter, which lagged the Zacks Consensus Estimate by 4.1%. In the prior-year quarter, the company reported NII of $273.2 million.
Net interest spread (excluding PAA) of 1.50% in the second quarter increased from 1.47% in the prior-year quarter.
Annaly’s BVPS was $20.15 as of June 30, 2026, up from $18.45 in the prior-year quarter. At the end of the reported quarter, the company’s economic capital ratio was 14.9%, up from 14.3% in the prior-year quarter.
In the second quarter, the weighted average actual constant prepayment rate was 11.6%, up from 8.7% in the year-ago quarter.
Annaly generated an annualized EAD return on average equity of 15.12% in the second quarter, which increased from the prior-year quarter’s 14.86%.
The company’s total portfolio was $109.4 billion in the quarter, including a $95 billion Agency portfolio. The Residential Credit portfolio was $10.4 billion, while the MSR portfolio was $4.1 billion.
NLY Keeps Leverage Conservative With Ample LiquidityAnnaly maintained a disciplined leverage profile in the quarter, with GAAP leverage at 7.4X, up from 7.3X in the prior quarter, and economic leverage at 5.6X, down from 5.7X. The company also reported total stockholders’ equity of $16.9 billion as of the quarter-end.
Liquidity remained a focal point, given ongoing macro and rate uncertainty. Annaly ended the quarter with $9.6 billion in total assets available for financing, including $5.5 billion in cash and unencumbered Agency MBS. The company also increased financing capacity in its Residential Credit business by $740 million through expanded credit facilities.
Annaly Hedging Rises Amid Macro UncertaintyAgainst an uncertain rate environment, NLY adopted a more defensive hedge posture. The company ended the quarter with a hedge ratio of 97%, up from 87% in the prior quarter, while its hedge portfolio increased to $92 billion from $81 billion.
Funding costs were mixed during the quarter. Average GAAP costs of interest-bearing liabilities declined one basis point sequentially to 4.28%, while average economic costs increased three basis points to 3.96%. The net interest margin, excluding PAA, was 1.76% compared with 1.71% in the second quarter of 2025. Average yield on interest-earning assets, excluding the premium amortization adjustment, was 5.46%, up from 5.41% in the year-ago quarter.
NLY Leans on Dividend Coverage & Capital RaisingA key highlight for income-focused investors was that earnings again exceeded the common dividend. Annaly increased its quarterly common stock cash dividend to 75 cents per share for the second quarter from 70 cents in the year-ago period, supported by its earnings available for distribution.
The company also leaned on equity issuance to support growth. Annaly raised $447 million through its at-the-market sales program during the quarter, which it characterized as accretive, and largely deployed the capital into higher-coupon TBA securities and specified pools.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.
VGM ScoresAt this time, Annaly has a poor Growth Score of F, a score with the same score on the momentum front. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Annaly has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry PlayerAnnaly is part of the Zacks REIT and Equity Trust industry. Over the past month, AGNC Investment (AGNC - Free Report) , a stock from the same industry, has gained 3.4%. The company reported its results for the quarter ended June 2026 more than a month ago.
AGNC Investment reported revenues of $305 million in the last reported quarter, representing a year-over-year change of +88.3%. EPS of $0.40 for the same period compares with $0.38 a year ago.
AGNC Investment is expected to post earnings of $0.39 per share for the current quarter, representing a year-over-year change of +11.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.2%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for AGNC Investment. Also, the stock has a VGM Score of D.
Chubb ve 2. čtvrtletí překonal odhad upraveného provozního zisku na akcii 7,26 USD, ale výnosy 15,77 miliardy USD za odhadem zaostaly. Akcie za měsíc odepsaly asi 0,7 %.
A month has gone by since the last earnings report for Chubb (CB - Free Report) . Shares have lost about 0.7% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Chubb due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Chubb Limited before we dive into how investors and analysts have reacted as of late.
CB Q2 Earnings Beat on Higher Underwriting and Investment Income
Chubb Limited reported second-quarter 2026 core operating earnings of $7.26 per share, which beat the Zacks Consensus Estimate of $6.63 by 9.5%. The bottom line increased 18.2% year over year. Revenues rose 2.7% year over year to $15.77 billion but missed the consensus mark of $15.90 billion by 0.8%. Stronger P&C underwriting, record investment income and higher life insurance income supported results. Net premiums earned increased 5.8% to $13.89 billion.
CB's Underwriting Profit RisesP&C underwriting income increased 18.8% year over year to $1.94 billion. The combined ratio improved 180 basis points to 83.8%, reflecting a lower share of premiums consumed by claims and expenses. Our estimate was $1.15 billion.
Current accident year underwriting income, excluding catastrophe losses, advanced 5.8% to $2.13 billion. The corresponding combined ratio improved 10 basis points to 82.2%, indicating steady underlying profitability.
Chubb's Catastrophe Losses DeclinePre-tax net catastrophe losses were $475 million, down from $630 million in the year-ago quarter. Favorable prior-period reserve development increased to $283 million from $249 million. These factors helped offset softer conditions in selected property lines. Management said pricing pressure remained most pronounced in large-account and excess and surplus property, while softness was spreading to parts of casualty and financial lines.
CB's Premium Growth Remains BroadConsolidated net premiums written increased 3.6% year over year to $14.71 billion. The Zacks Consensus Estimate was $15 billion while our estimate was $15.1 billion. P&C net premiums written rose 3.0% to $12.77 billion and increased 6.3% when large-account and excess and surplus property were excluded. Global P&C net premiums written, excluding agriculture, advanced 2.8% to $11.99 billion. Life insurance net premiums written grew 7.5% to $1.94 billion, adding balance to the company's premium expansion.
Chubb's North America Results DivergeNorth America Commercial P&C net premiums written declined 2.3% to $5.59 billion. Our estimate was $5.9 billion. Major accounts and specialty fell 9.0% as underwriting actions weighed on property business, while middle-market and small commercial premiums increased 8.9% to $2.34 billion. North America Personal P&C net premiums written grew 6.0% to $2.05 billion (our estimate was $2 billion), while its combined ratio improved 620 basis points to 67.3%. Agricultural premiums rose 6.0% to $776 million (our estimate was $769 billion), though the segment's combined ratio increased 60 basis points to 89.7%.
CB's Overseas Business Delivers GrowthOverseas General Insurance net premiums written jumped 10.2% to $3.99 billion, or 4.8% in constant dollars. Our estimate was $4.2 billion. Commercial P&C premiums increased 8.8%, while consumer P&C premiums advanced 12.1%. The segment's combined ratio improved 810 basis points to 82.2%. Latin America, Asia and Europe posted premium growth of 15.6%, 12.0% and 5.1%, respectively, underscoring the benefit of Chubb's geographic diversification.
Chubb's Investment and Life Income RisePre-tax net investment income increased 12.3% to a record $1.76 billion. Adjusted net investment income rose 11.4% to $1.88 billion, supported by fixed-income and alternative asset portfolios. Life Insurance segment income increased 9.0% to $332 million. Net premiums written and deposits collected climbed 14.4% to $2.65 billion, with International Life income up 13.0%.
CB's Cash Flow Funds Shareholder ReturnsOperating cash flow totaled $3.73 billion, while adjusted operating cash flow was $3.48 billion. Chubb returned $1.37 billion to shareholders during the quarter. Share repurchases totaled $979 million at an average price of $327.18 per share. Dividend payments were $395 million, bringing the total capital returned during the first six months of 2026 to $2.90 billion.
Chubb's Book Value StrengthensBook value per share was $195.45 as of June 30, 2026, up 12.3% year over year. Tangible book value per share increased 17.1% to $131.93. Annualized core operating return on tangible equity was 21.2%, while annualized core operating return on equity was 14.5%. Total invested assets were $175.40 billion, supporting the company's investment income base.
How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended upward during the past month.
VGM ScoresCurrently, Chubb has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Chubb has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerChubb is part of the Zacks Insurance - Property and Casualty industry. Over the past month, Progressive (PGR - Free Report) , a stock from the same industry, has gained 6.2%. The company reported its results for the quarter ended June 2026 more than a month ago.
Progressive reported revenues of $23.01 billion in the last reported quarter, representing a year-over-year change of +6.4%. EPS of $4.85 for the same period compares with $4.88 a year ago.
Progressive is expected to post earnings of $3.66 per share for the current quarter, representing a year-over-year change of -9.6%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.6%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Progressive. Also, the stock has a VGM Score of C.
Halliburton za poslední měsíc přidal asi 6 % po zveřejnění výsledků za 2. čtvrtletí, kdy tržby vzrostly na 5,7 miliardy USD a překonaly odhady. Zisk na akcii (EPS) byl 55 centů.
It has been about a month since the last earnings report for Halliburton (HAL - Free Report) . Shares have added about 6% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Halliburton due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.
Halliburton Q2 Earnings & Revenues Beat Estimates, Sales Up Y/YHalliburton reported second-quarter 2026 adjusted net income per share of 55 cents, marginally beating the Zacks Consensus Estimate of 54 cents. The outperformance was backed by year-over-year revenue growth. However, the bottom line was flat compared with the prior-year level.
Meanwhile, the Houston, TX-based oil and gas equipment and services company’s second-quarter revenues of $5.7 billion were up 3.7% year over year and beat the Zacks Consensus Estimate of $5.5 billion. The outperformance was driven by higher revenues in both segments of the company — the Completion and Production segment and the Drilling and Evaluation segment.
Inside Halliburton’s Regions & SegmentsNorth America revenues increased by $17 million year over year to $2.3 billion, driven by higher stimulation activity and increased well construction activity in the United States and higher fluids activity in the Gulf of America, also beating our projection by around $29 million. On the other hand, revenues from Halliburton’s international operations increased 5.7% from the year-ago period to $3.4 billion.
The Completion and Production segment earned $474 million in operating income, lower than last year’s $513 million. The figure also missed our estimate of $480 million. The underperformance of the segment was due to lower specialty chemicals activity in North America resulting from the sale of a portion of the chemical business, decreased cementing activity in Latin America and lower activity across multiple product service lines in the Middle East.
The Drilling and Evaluation unit’s profit increased to $338 million in the second quarter of 2026 from $312 million in the same period of 2025. The figure also beat our estimate of $322 million. This rise was backed by increased drilling-related services and higher wireline activity in North America and Europe/Africa and increased drilling-related services in Asia.
Q2 Balance SheetHalliburton reported second-quarter capital expenditure of $235 million. As of June 30, 2026, the company had approximately $2 billion in cash/cash equivalents and $7.1 billion in long-term debt, representing a debt-to-capitalization of 39%. HAL bought back $200 million worth of its stock and invested $46 million in the SAP S/4 migration during the second quarter of 2026. The company generated $824 million of cash flow from operations in the second quarter, leading to a free cash flow of $668 million.
Management Remarks & OutlookHalliburton's management remains optimistic about the company's growth prospects, supported by its differentiated technology portfolio and strong value proposition. Management expects these strengths to drive revenue growth and margin expansion over the coming quarters. Internationally, the company is encouraged by recent contract wins and a robust pipeline of future opportunities, with demand for its services and technologies increasing across all regions. In North America, management noted a recovery during the quarter and anticipates further gradual improvement through the remainder of the year. Halliburton also reaffirmed its commitment to capital discipline and delivering strong shareholder returns, viewing these priorities as key drivers of its long-term success.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.
VGM ScoresAt this time, Halliburton has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock has a score of B on the value side, putting it in the top 40% for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Halliburton has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Zayo rozšířila strategickou dohodu s Corningem o dodávkách optického vlákna, které jí má zajistit významnou část potřeb až do konce desetiletí. Firma tak chce podpořit plánovanou expanzi sítě o 15 000 nových trasových mil do roku 2030.
AI infrastructure is putting unprecedented pressure on one of the physical inputs required to scale it: fiber. To address this constraint before it becomes a barrier to execution, Zayo, the leading digital network infrastructure provider, today announced an expanded strategic supply agreement with Corning Incorporated (NYSE: GLW), one of the world’s leading innovators in materials science and a major provider of fiber optic cable.
The agreement secures a significant portion of the fiber Zayo has projected to need through the remainder of the decade, providing supply assurance as the company executes one of the largest network expansions in its history.
Securing the Physical Inputs for AI-Ready Infrastructure
Zayo has spent years modelling where network demand is headed and deliberately planning how, when, and where it builds. As AI-driven demand accelerates, that planning increasingly extends beyond routes and capacity to the physical materials required to build them. Securing fiber optic cable supply now gives Zayo greater flexibility to scale as demand evolves.
“AI infrastructure is changing where and how quickly network capacity needs to be built,” said Steve Smith, CEO, Zayo. “We understand where demand is moving, and we’re putting the physical inputs in place now to build ahead of it. Deepening our relationship with Corning gives us greater confidence that material availability won’t stand between customer demand and the infrastructure required to deliver it.”
“AI is driving a fundamental increase in the amount and density of fiber optic cable and connectivity required across the network,” said Steve Mitchell, Senior Vice President, Corning Incorporated. “As networks evolve to meet those demands, providers need solutions that can accelerate deployment, increase capacity, and support long-term scalability. Our expanded relationship with Zayo brings together Corning's industry-leading optical innovations with Zayo's network expertise to help build the physical infrastructure required for AI at scale.”
Building the Physical Foundation for the AI Ecosystem
AI readiness is physical. Zayo plans to add 15,000 new route miles by 2030, including more than 8,000 miles of new long-haul fiber in collaboration with NVIDIA, while adding capacity across existing corridors where AI infrastructure is concentrating. Securing the optical cable earlier in the planning cycle helps Zayo turn those plans into operating infrastructure without allowing material availability to dictate where or when the network can be built.
“Anyone can draw a route on a map, but building it is a different story. Long-haul construction requires years of planning, permitting, materials, and disciplined execution,” said Troy Lupe, Chief Network Officer, Zayo. “Our experience building networks at this scale allows us to anticipate and manage execution risks before they become constraints. Corning understands what it takes to support an expansion of this magnitude and the speed required to deliver it. Securing fiber optic cable supply through our expanded agreement takes one critical variable off the table as we execute our network expansion.”
To learn more about Zayo’s network expansion and how its digital infrastructure is connecting the AI ecosystem, visit https://www.zayo.com/backbone-for-ai/.
About Zayo
The world’s digital future depends on networks that perform. Zayo builds and operates those networks. As the leading digital network infrastructure provider, the Zayo network spans 32 million fiber miles and 224,000 route miles across North America and connects more than 400 markets globally. With dense long-haul and metro fiber connectivity, tailored connectivity solutions, and managed services, Zayo’s network underpins the cloud, AI, and enterprise platforms powering the digital economy. Carriers, cloud providers, data centers, enterprises, schools, and governments rely on Zayo’s future-ready infrastructure and expertise to design, scale, and operate the networks that connect what’s next. Discover how Zayo connects what’s next at www.zayo.com and follow us on LinkedIn.
About Corning Incorporated
Corning (www.corning.com) is one of the world’s leading innovators in materials science, with a 175-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics, along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people’s lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning’s capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping its customers capture new opportunities in dynamic industries. Today, Corning’s markets include optical communications, mobile consumer electronics, display, automotive, solar, semiconductors, and life sciences.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260820853007/en/
DELL prodloužila partnerství s Team Liquid do roku 2031, aby posílila Alienware v e-sportu a prémiovém gamingu. Zároveň jí v 1. čtvrtletí fiskálního roku 2027 vzrostly spotřebitelské tržby o 9 % na 1,59 miliardy USD.
Key Takeaways DELL extends Team Liquid ties to boost Alienware testing, content and esports visibility.DELL's consumer revenues rose 9%, supported by continued strength in gaming.HP gains premium PC share, while Corsair expands its gaming peripherals ecosystem. Dell Technologies (DELL - Free Report) and its Alienware gaming brand have extended their long-running partnership with Team Liquid through 2031, strengthening DELL’s presence in e-sports and premium gaming. The agreement extends a 15-year relationship and puts the partnership on track to span 20 years. Over the years, the collaboration has evolved beyond hardware sponsorship to include product development, performance testing, e-sports content, live events and community engagement. This could help DELL reinforce its gaming position against HP (HPQ - Free Report) , which competes in premium gaming PCs and peripherals through brands such as OMEN and HyperX, and Corsair Gaming (CRSR - Free Report) , which competes across gaming systems, components and peripherals.
The partnership is particularly relevant to DELL’s Client Solutions Group (CSG), which includes PCs, branded peripherals and high-end consumer and gaming products. Team Liquid’s professional players provide Alienware with real-world performance feedback that can support the development and refinement of gaming PCs and peripherals. The collaboration also strengthens Alienware’s credibility among competitive gamers and supports its Pro Series peripherals through a data-driven approach to player performance.
The timing is favorable because DELL’s consumer business is gaining momentum. In first-quarter fiscal 2027, consumer revenues increased 9% to $1.59 billion, while total CSG revenues rose 17% to $14.61 billion and CSG operating income surged 79% to $1.17 billion. Management specifically said consumer growth was supported by continued strength in gaming, while stronger demand contributed to higher attach rates, greater scale and improved consumer profitability.
The Team Liquid alliance could support DELL’s broader attach opportunity. Dell Technologies' management highlighted healthy demand for peripherals and services, noting that growth in its PC base can generate additional revenues from complementary products. Alienware’s e-sports exposure can therefore support sales not only of gaming PCs but also of monitors, keyboards, mice, headsets and related services, expanding DELL’s attach opportunity across the gaming ecosystem.
DELL Faces Tough CompetitionHP and Corsair Gaming are strengthening their positions across premium PCs, high-performance computing and gaming peripherals, increasing competitive pressure on DELL. HP reported 13% growth in Personal Systems in the second quarter of fiscal 2026, including strong growth in both Commercial and Consumer. HP’s AI PCs accounted for 44% of its shipment mix in the second quarter of fiscal 2026, strengthening its position in premium and AI-enabled PCs that compete for high-value PC spending.
Corsair represents a more direct gaming-focused challenge. In the second quarter of 2026, Gamer and Creator Peripherals revenues increased 13% year over year to $115.9 million, while segment gross margin reached 44.9%. Corsair is expanding its ecosystem through Fanatec and Trak Racer and continues to compete in gaming components and high-performance systems. Against this backdrop, the Team Liquid partnership gives DELL a long-term platform to strengthen Alienware’s brand visibility, product differentiation and engagement with gaming customers as competition across the premium gaming market intensifies.
DELL’s Share Price Performance, Valuation & EstimatesShares of Dell Technologies have appreciated 246.7% year to date, outperforming the broader Zacks Computer and Technology sector’s 15.7% growth.
DELL Stock’s YTD Price Performance
Image Source: Zacks Investment Research
DELL stock is trading at a premium, with a forward 12-month price-to-earnings ratio of 20.38X compared with the broader sector’s 21.05X. Dell Technologies has a Value Score of D.
DELL’s Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for DELL's earnings is currently pegged at $4.88 per share, down by a cent over the past 30 days, suggesting 110.34% growth.
Dell Technologies stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Applied Materials čeká, že tržby z advanced packaging v roce 2026 vzrostou o více než 70 %. Firma zároveň posílila nabídku pro HBM, DRAM a 3D packaging.
Key Takeaways Applied Materials launched systems targeting HBM, 3D packaging, DRAM and process control in July 2026.AMAT expects advanced packaging revenues to grow more than 70% in 2026 as memory demand stays constrained.Its broad portfolio supports pricing power and reduces reliance on any single semiconductor technology cycle. Applied Materials (AMAT - Free Report) has been at the forefront of the wafer fabrication equipment space, driven by the rapid build-out of AI computing infrastructure, which is increasing the demand for higher system performance, power efficiency and cost optimization. In the advanced packaging space, AMAT has strong positions in high-bandwidth memory and 3D chiplet stacking.
In July 2026, Applied Materials introduced a suite of semiconductor manufacturing systems to accelerate next-generation AI chip production, particularly for HBM and advanced 3D packaging. The company launched an enhanced epitaxy system for DRAM, improving transistor performance and efficiency while reducing the fab footprint by 20%.
Three new CMP, copper deposition and PECVD systems target critical advanced-packaging processes, improving stacking yield and enabling higher-layer HBM designs. AMAT also introduced two eBeam metrology and defect-analysis systems for increasingly complex packaging substrates.
Overall, the launches strengthen Applied Materials’ positioning across DRAM, HBM, advanced packaging and process control as AI-driven semiconductor complexity rises. Applied Materials’ advanced packaging, along with leading-edge foundry-logic and DRAM, is expected to account for more than 80% of the year-over-year growth in wafer fab equipment spending in 2026.
AMAT is expected to gain tremendously as the data center memory space remains among the most supply-constrained markets amid massive demand. The eventual ramp-up of memory chip production gives AMAT an edge throughout 2026 and 2027, as it is a leading process equipment supplier in advanced packaging. Applied Materials now expects advanced packaging revenues to grow more than 70% in 2026.
How Competitors Fare Against AMATAMAT’s broad portfolio positions the company to capture a larger share of customer spending as semiconductor manufacturing becomes increasingly materials-intensive while also keeping its competitors like Lam Research (LRCX - Free Report) and Camtek (CAMT - Free Report) at bay. The breadth of Applied Materials' portfolio also reduces its dependence on any single semiconductor technology cycle and supports stronger pricing power.
Lam Research competes with Applied Materials in deposition and etch technologies, including advanced atomic layer deposition systems for leading-edge semiconductor manufacturing. Camtek focuses on semiconductor inspection, metrology, advanced packaging and high-performance computing applications.
AMAT’s Price Performance, Valuation and EstimatesShares of Applied Materials have surged 91.1% year to date compared with the Zacks Electronics - Semiconductors industry’s growth of 25.4%.
AMAT YTD Performance Chart
Image Source: Zacks Investment Research
From a valuation standpoint, Applied Materials trades at a forward price-to-sales ratio of 11.08X, higher than the industry’s average of 9.53X.
AMAT Forward 12-Month (P/S) Valuation Chart
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Applied Materials’ fiscal 2026 and 2027 earnings implies year-over-year growth of 35% and 43%, respectively. Earnings estimates for fiscal 2026 and 2027 have been revised upward over the past seven days.
Image Source: Zacks Investment Research
Applied Materials currently flaunts a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Docusign za měsíc vzrostl o 18,7 % a těží z rozšiřování platformy IAM s AI nástroji a integracemi. V 1. čtvrtletí fiskálního roku 2027 stoupl provozní zisk o 18 % na 266 mil. USD.
Key Takeaways Docusign stock gained 18.7% in a month, outpacing its industry and the S&P 500 Composite.DOCU is expanding IAM with AI-powered review agents, workflow tools and major platform integrations.Docusign held about $1B in cash and investments, had no debt and posted 28% operating cash flow growth. Docusign (DOCU - Free Report) stock has gained 18.7% in a month compared with the industry’s 0.3% growth and the Zacks S&P 500 Composite's 2.9% return.
DOCU’s 1-Month Share Price Performance
Image Source: Zacks Investment Research
Let us delve deeper into the factors that have contributed to the company’s outperformance.
DOCU’s AI-backed ScalabilityDocusign continues to benefit from broad use of e-Signature while expanding customer relationships through its Intelligent Agreement Management (IAM) platform. The company is extending beyond eSignature by building IAM around agreement creation, review, workflow automation and post-signature management.
The company witnessed investments from 40,000 customers in IAM during the first quarter of fiscal 2027, representing 12.6% of total Annual Recurring Revenue, up from 10.8% at fiscal 2026 year-end. DOCU expanded the platform’s capabilities through new artificial intelligence (AI)-powered offerings under its Iris agreement AI engine. New contract review agents, workflow automation tools and integrations with platforms such as Anthropic Claude, OpenAI ChatGPT, Salesforce, Coupa and Thomson Reuters are intended to deepen customer engagement and strengthen DOCU’s competitive position in agreement management.
DOCU’s Strong Profitability Attracts InvestorsRecently, Docusign delivered solid profit figures in the first quarter of fiscal 2027. Its non-GAAP operating income rose 18% year over year to $266 million, while operating margin expanded 250 basis points to 32%. Adjusted net income increased 12.6% year over year, while adjusted earnings per share rose 21.1% year over year to $1.09 per share. Results benefited from higher revenues, disciplined spending, increased capitalization of development costs and an insurance-related legal reimbursement. Such results boosted shareholder confidence in the company's profit growth. invest
DOCU’s Solid Cash ProfileAs of April 30, 2026, DOCU held approximately $1 billion in cash, cash equivalents and investments with no debt. This solid cash position, which was enhanced by 28% year-over-year growth in operating cash flow during the last reported quarter, provides DOCU with sufficient flexibility to invest in its scaling business without hampering its short-term financial position. Free cash flow increased by 27% during this time frame.
DOCU’s Zacks Rank & Stocks to ConsiderDocusign currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the broader Zacks Computer and Technology sector are Analog Devices, Inc. (ADI - Free Report) and AMETEK, Inc. (AME - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Analog Devices carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 31%.
ADI delivered a trailing four-quarter earnings surprise of 5.5%, on average.
AMETEK also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 9.4%.
AME beat earnings estimates in each of the trailing four quarters, with an average earnings surprise of 4.9%.
D.R. Horton po poslední výsledkové zprávě přidal asi 6,6 %, ale zároveň snížil celoroční výhled tržeb na 32,5–33 miliard USD a počtu dokončených domů na 83 800–84 300.
A month has gone by since the last earnings report for D.R. Horton (DHI - Free Report) . Shares have added about 6.6% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is D.R. Horton due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.
D.R. Horton's Q3 Earnings Beat on Higher ClosingsD.R. Horton reported third-quarter fiscal 2026 earnings of $3.20 per share, beating the Zacks Consensus Estimate of $2.99 by 7%. Revenues of $9.23 billion also surpassed the consensus mark of $9.19 billion by 0.5%. On a year-over-year basis, earnings declined 4.8%, while revenues increased marginally.
The earnings and revenue beat were driven by higher home-closing volumes, resilient home sales margins, disciplined management of pricing and incentives, contributions from the Rental, Forestar and Financial Services businesses and the benefit of a lower diluted share count from share repurchases. However, lower profitability, elevated incentives and cautious consumer demand continued to weigh on results.
DHI Sustains Revenue as Profitability ModeratesConsolidated revenues totaled $9.227 billion compared with $9.225 billion in the prior-year quarter. Income before taxes declined 9.7% year over year to $1.23 billion, while the pre-tax margin contracted to 13.3% from 14.7%.
Net income fell 11.7% to $904.9 million from a year ago. Cost of sales increased to $7.08 billion from $7.02 billion, while selling, general and administrative expenses rose 5% to $991.2 million.
The lower earnings reflected margin pressure rather than a meaningful decline in consolidated revenues. Management continued to balance sales pace, pricing, incentives and inventory levels across its communities.
D.R. Horton's Home Closings Support SalesHomebuilding revenues increased 1.2% year over year to $8.69 billion. Homes closed rose 4% year over year to 23,983, reaching the high end of management’s guidance range for the quarter.
Homebuilding pre-tax income declined 10.1% to $1.07 billion, while the segment’s pre-tax margin narrowed to 12.3% from 13.8%. The results show that higher delivery volume was not enough to offset the effect of weaker profitability.
Net sales orders totaled 23,084 homes, nearly unchanged from the prior-year quarter level of 23,071 units. The value of orders was $8.44 billion, also broadly stable year over year.
DHI Faces Higher Cancellations and Margin PressureThe cancellation rate increased to 20% from 17% in the year-ago period. Management said that affordability constraints and cautious consumer sentiment continued to affect new-home demand.
Home sales revenues increased to $8.68 billion from $8.56 billion. The home sales gross margin fell to 20.7% from 21.8%, though it improved from 20.1% in the second quarter of fiscal 2026.
Gross margin before interest and other costs was 24.7%, down from 25.7% a year earlier. Management expects sales incentives to remain elevated in the fiscal fourth quarter, with incentive levels depending on demand, mortgage rates and broader market conditions.
D.R. Horton Maintains Flexible Inventory PositionThe company ended the quarter with 38,000 homes in inventory, including 23,300 unsold homes. Completed unsold homes totaled 7,600, of which 600 had been completed for more than six months.
During the first nine months of fiscal 2026, 67% of homes closed were built on lots developed by Forestar or third parties, up from 65% a year ago. This structure supports D.R. Horton’s effort to maintain flexibility in its land and lot investments.
Homebuilding return on inventory declined to 17% for the trailing 12 months from 22.1% a year earlier. The decrease reflected lower trailing homebuilding pre-tax income against a relatively stable average inventory base.
DHI's Other Segments Contribute to ResultsRental operations generated revenues of $266.1 million (down 30.1% from a year ago) from the sale of 601 single-family rental homes and 339 multifamily rental units. The segment posted pre-tax income of $31 million (down 43.4% year over year) and a pre-tax margin of 11.6% (contracted from 14.4%).
Forestar sold 3,659 lots and generated revenues of $407 million (up 4.2% from a year ago). Pre-tax income was $48.7 million (up 11.7% year over year), resulting in a margin of 12% from 11.2% a year ago.
Financial Services recorded revenues of $220.7 million (down 3.1% year over year) and pre-tax income of $70.3 million (down 13.5%). The segment’s pre-tax margin was down to 31.9% from 35.7% a year ago, yet making it the company’s most profitable business by margin during the quarter.
DHI Returned Capital While Preserving LiquidityD.R. Horton continued to return cash to shareholders during the quarter. The company repurchased 4.2 million shares for $615.7 million and paid $127.1 million in cash dividends. Common shares outstanding totaled 280.7 million as of June 30, 2026, down 6% year over year, while the remaining repurchase authorization was $1.1 billion.
Cash, cash equivalents and restricted cash totaled $2.13 billion at quarter-end compared with $3.03 billion at the end of fiscal 2025. Total liquidity remained solid at $6.1 billion, while the debt-to-total-capital ratio was 23%. The company also had $600 million of homebuilding senior notes maturing within the next 12 months. The board declared a quarterly dividend of 45 cents per share.
Cash provided by operations was $880.8 million for the first nine months of fiscal 2026 compared with $949.1 million a year ago. Trailing 12-month return on equity was 12.8%, while return on assets was 8.5%, reflecting continued profitability despite lower year-over-year earnings.
D.R. Horton Trims Fiscal 2026 GuidanceD.R. Horton now expects fiscal 2026 consolidated revenues of $32.5-$33 billion, down from $33.5-$34.5 billion expected earlier. This compares with $34.25 billion in fiscal 2025.
Homebuilding closings are projected to be between 83,800 and 84,300 homes (versus earlier projection of 86,000-87,500 homes). This compares with 84,863 in fiscal 2025.
Income tax rate is expected to be approximately 25%.
The company reiterated its expectations for at least $3 billion in operating cash flow, approximately $2.5 billion in share repurchases and about $500 million in dividend payments.
How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -8.08% due to these changes.
VGM ScoresCurrently, D.R. Horton has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock has a grade of B on the value side, putting it in the top 40% for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, D.R. Horton has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
A month has gone by since the last earnings report for Synchrony (SYF - Free Report) . Shares have added about 9.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Synchrony due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Synchrony Beats Q2 Earnings Estimates, Raises 2026 EPS Outlook
Synchrony reported second-quarter 2026 adjusted earnings per share (EPS) of $2.59, which surpassed the Zacks Consensus Estimate by 24.5%. The bottom line increased 3.6% year over year.
Net interest income increased 1.9% year over year to $4.6 billion but missed the consensus estimate by 1.1%. The growth was driven by lower interest-bearing liability costs, partly offset by lower loan and liquidity portfolio yields.
The quarterly results were driven by record purchase volume, accelerated growth in ending loan receivables despite elevated payment behavior, continued credit strength and an expansion in net interest margin. However, higher operating expenses and an increase in the provision for credit losses partly offset these positives.
Synchrony’s Q2 Results in DetailRetailer share arrangements of Synchrony advanced 3.5% year over year to $1 billion in the second quarter. Total loan receivables were $102.2 billion, up 2.4% year over year. The figure beat the Zacks Consensus Estimate of $101.9 billion as well as our estimate of $101.8 billion.
Total deposits increased 0.7% year over year to $82.8 billion but missed our estimate of $83.5 billion. Provision for credit losses increased 4.8% year over year to $1.2 billion, primarily due to a smaller reserve release than in the prior-year period, partially offset by lower net charge-offs. However, the reported figure came in below our estimate of $1.5 billion.
Synchrony’s purchase volume rose 8.1% year over year to $49.8 billion on higher spend per account. The figure beat the consensus estimate of $48.7 billion and our estimate of $47.7 billion.
Interest and fees on loans increased 1% year over year to $5.4 billion but marginally missed our estimate of $5.5 billion. The increase was driven by higher loan receivables yields, partly offset by lower benchmark rates. Net interest margin expanded 30 basis points year over year to 15.08% but fell short of the Zacks Consensus Estimate of 15.25%.
Average active accounts increased 0.4% year over year at 68.3 million, missing the Zacks Consensus Estimate of 68.9 million and our estimate of 68.7 million.
Total other expenses increased 6.9% year over year to $1.33 billion, slightly above our estimate of $1.30 billion. The efficiency ratio rose 170 basis points year over year to 35.8%, which outpaced the Zacks Consensus Estimate of 35.05%.
Movement in Individual Sales PlatformsHome & Auto period-end loan receivables decreased 0.1% year over year in the second quarter. Purchase volume rose 5.8% year over year, reflecting the performance of new programs. Interest and fees on loans declined 0.1% year over year.
Digital period-end loan receivables inched up 4.4% year over year. Purchase volume increased 9.2%, driven by strong performance across diversified partners. Interest and fees on loans rose 1.8% year over year.
Diversified & Value period-end loan receivables increased 6.5% year over year. Purchase volume increased 11.7%, driven by partner expansion and higher gas sales. Interest and fees on loans increased 1.6% year over year.
Health & Wellness period-end loan receivables inched up 0.5% year over year. Purchase volume increased 2.1% year over year, supported by growth in Pet, partly offset by lower Cosmetic spending. Interest and fees on loans advanced 2.7% year over year.
Lifestyle period-end loan receivables decreased 0.9% year over year in the second quarter. Purchase volume rose 6%, reflecting new program growth and higher spending in Other Apparel and Goods and Luxury. Interest and fees on loans declined 1.9% year over year.
Synchrony’s Financial Position (As of June 30, 2026)Synchrony exited the second quarter with cash and equivalents of $16.2 billion, which increased from the 2025-end level of $15 billion. Total assets of $121.9 billion increased from the 2025-end figure of $119.1 billion. SYF’s balance sheet was consistently strong in the reported quarter, with total liquidity of $19.8 billion accounting for 16.2% of its total assets.
Total borrowings were $16.4 billion, up from $15.2 billion as of Dec. 31, 2025. Total equity of $16.9 billion inched up from the 2025-end figure of $16.8 billion.
Return on assets decreased 30 basis points to 2.9%. Return on equity was 21.4%, which decreased 170 bps year over year.
Capital Deployment UpdateSynchrony returned $950 million to shareholders, including $850 million through share buybacks and $100 million in dividends. As of June 30, 2026, the company had a total remaining repurchase authorization of $5.7 billion, with no expiration date.
SYF’s 2026 GuidanceSynchrony continues to anticipate mid-single-digit growth in period-end loan receivables. Strong purchase volume growth is expected to continue throughout 2026. The payment rate is expected to remain high. SYF expects receivables growth to accelerate in the second half of 2026.
The company narrowed its 2026 earnings per share guidance to $9.25-$9.50 from $9.10-$9.50, raising the lower end of the range.
RSA, as a percentage of average loan receivables, is increasing, reflecting strong program performance, and is expected to remain within the 4-4.5% target range.
How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in fresh estimates.
The consensus estimate has shifted -6.95% due to these changes.
VGM ScoresAt this time, Synchrony has a subpar Growth Score of D, a score with the same score on the momentum front. However, the stock was allocated a grade of A on the value side, putting it in the top quintile for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Synchrony has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Oshkosh oznámil, že backlog divize Access vzrostl meziročně o 64,7 % na 1,96 mld. USD k 30. červnu 2026. Slabá poptávka po vozech na svoz odpadu a pomalejší výroba hasičských vozů ale dál brzdí krátkodobý růst.
Key Takeaways Oshkosh's Access backlog rose 64.7% year over year to $1.96 billion as of June 30, 2026.NGDV and defense growth could boost Transport profitability, with another NGDV order likely in Q4.Weak refuse demand, Access margin pressure and slower fire truck production could constrain near-term growth. Oshkosh Corporation (OSK - Free Report) Oshkosh benefits from strong Access backlog, airport demand, NGDV and defense growth, improving free cash flow and shareholder returns. However, weak refuse demand, compressed Access margins, tariff pressures and slower fire truck production could constrain near-term earnings growth and weigh on profitability despite improving demand trends.
Let’s dig deeper and see why this Zacks Rank #3 (Hold) stock is worth retaining in your portfolio.
Strong Access Backlog, Acquisitions Strength to Aid OshkoshAccess demand improved in the second quarter of 2026, with orders of $1.5 billion, a 1.1 book-to-bill ratio and backlog of $1.96 billion as of June 30, 2026, up 64.7% year over year. Mega projects, including data centers, continue to support equipment demand. High utilization and an aged boom fleet also acted as demand supports. OSK expects full-year 2026 Access revenues to grow from 2025, reversing its earlier expectation of a modest decline.
Prior acquisitions continue to broaden Oshkosh’s exposure to airport infrastructure and other end markets. In the second quarter of 2026, Oshkosh AeroTech recorded continued demand for passenger boarding bridges, including orders in Chicago, Denver and Philadelphia. Vocational backlog reached $6.62 billion as of June 30, 2026, up 5.6% year over year, supported by municipal fire apparatus and airport products. The company continues to invest in airport capacity and automation, including testing an autonomous ground support robot, as airports pursue expansion and modernization projects that support a longer-duration order base.
Oshkosh's Transport segment is positioned for stronger growth as the Next Generation Delivery Vehicle (NGDV) program ramps up and defense activity gains momentum. Delivery vehicle revenues increased more than 20% sequentially in the second quarter, while the NGDV fleet has surpassed 35 million miles and received positive feedback on safety, productivity and reliability. The company expects another NGDV order, likely in the fourth quarter, alongside higher production and improved contract pricing. Meanwhile, defense momentum is supported by recent $142 million FMTV A2 and $92 million ROGUE-Fires orders, as well as growing interest from international customers. These opportunities could improve Transport profitability and provide revenue visibility beyond 2026.
Free cash flow improved significantly year over year. It rose to $348 million in the second quarter of 2026 from $49 million a year earlier. The company maintained full-year 2026 free cash flow guidance of $550-$650 million compared with $618 million reported in 2025. Oshkosh continues to return cash through dividends and repurchases. In January 2025, it hiked its dividend for the 11th consecutive year of double-digit percentage increase. Oshkosh repurchased $91.6 million of shares in the second quarter and $138.9 million in the first six months of 2026.
Weak Refuse Business, Profitability Concerns to Ail OSKThe refuse business has remained down in 2026 as some industrial customers remain cautious about capital spending amid uncertainty over the macroeconomic environment. Refuse and recycling vehicle sales fell to $160.7 million in the second quarter of 2026 from $197 million a year earlier. Unit backlog was down 29.5% as of June 30, 2026, as customers remained cautious on capital spending. While Oshkosh believes the underlying market remains healthy because refuse fleets are aged and waste generation is relatively stable, a recovery may not occur until 2027. This creates a near-term drag on the Vocational segment.
Although Access demand is improving, profitability remains pressured by adverse product and customer mix and unfavorable price-cost dynamics. Access adjusted operating margin was 11.3% in the second quarter of 2026 versus 14.8% a year earlier, despite 9.4% sales growth. The timing of broader recovery in non-residential construction remains uncertain, which could continue to affect customer mix. While Oshkosh expects to remain price-cost neutral for 2026, the need to recover tariff-related costs through pricing creates a potential margin headwind if cost increases cannot be fully passed on to customers.
The biggest near-term challenge is slower-than-expected improvement in fire truck production. Oshkosh is making significant changes to its manufacturing process, but throughput is improving more gradually than initially expected. As a result, the company now expects to produce and ship fewer fire trucks in 2026 than previously planned, reducing full-year adjusted EPS expectations to around $11. Although the manufacturing changes are intended to improve efficiency over the long term, execution risks remain during the transition, particularly because the fire truck business has thousands of parts and complex supplier and material-flow requirements.
Price Performance, Valuation and Estimates Oshkosh has underperformed the Zacks Automotive - Domestic industry in the last six months. Its shares have lost 15.3% compared to the industry’s decline of 7.6%.
Image Source: Zacks Investment Research
From a valuation perspective, OSK appears undervalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 0.8, lower than the industry’s 3.23.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Oshkosh’s 2026 and 2027 EPS has declined 28 cents and improved 14 cents, respectively, in the past 30 days.
Image Source: Zacks Investment Research
Stocks to ConsiderSome better-ranked stocks in the auto space are Geely Automobile Holdings Limited (GELHY - Free Report) and Garrett Motion Inc. (GTX - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for GELHY’s 2026 sales and earnings implies year-over-year growth of 77.1% and 43%, respectively. The EPS estimate for 2026 and 2027 has improved 12 cents and 23 cents each over the past seven days.
The Zacks Consensus Estimate for GTX’s 2026 sales and earnings implies year-over-year growth of 7.2% and 25.7%, respectively. The EPS estimate for 2026 and 2027 has improved 10 cents each over the past 30 days.
