Track market-moving stories before they get noisy

Peter Migliorini, Director at Steven Madden (SHOO +4.20%), reported the sale of 4,000 shares of common stock in an open-market transaction on June 15, 2026, according to the SEC Form 4 filing.

Transaction summaryMetricValueShares sold (direct)4,000Transaction value$181,200Post-transaction shares (direct)16,830Post-transaction value (direct ownership)$764,000Transaction value based on SEC Form 4 reported price ($45.30); post-transaction value based on June 15, 2026 market close ($45.42).

Key questionsHow does the size of this sale compare to Migliorini's previous transactions?
This 4,000-share sale is the largest in the past two years, modestly above his prior sell-only event sizes, which have ranged from 3,000 to 3,989 shares, and aligns with the reduction in available shares since 2023.What portion of Migliorini's direct equity exposure remains after this transaction?
Following this sale, Migliorini continues to hold 16,830 shares directly.Was this transaction part of a multi-year pattern or a deviation from typical activity?
Migliorini has consistently made one to two sales per year since 2023; this transaction fits his historical cadence rather than reflecting an abrupt increase in sales activity.Does Migliorini have any remaining economic interest in other share classes?
The filing shows Migliorini holds 16,830 shares of common stock directly, and retains these as a continuing economic interest; no additional share classes or indirect holdings are reported.Company overviewMetricValueRevenue (TTM)$2.63 billionNet income (TTM)$76.06 millionDividend yield2%1-year price change81%Company snapshotSteven Madden offers contemporary footwear, accessories, and apparel under proprietary and licensed brands, with products spanning shoes, handbags, small leather goods, and fashion accessories.The firm generates revenue through a diversified model encompassing wholesale distribution, direct-to-consumer retail (including e-commerce), licensing, and private label manufacturing for third parties.It targets a broad customer base across women, men, and children, serving department stores, mass merchants, specialty boutiques, and consumers through both physical stores and digital platforms.Steven Madden is a leading global designer and marketer in the footwear and accessories sector, operating with a multi-channel approach that balances wholesale, direct-to-consumer, and licensing streams. The company leverages a portfolio of recognized brands and a robust retail footprint to address evolving consumer preferences in the fashion industry. Its strategy emphasizes brand diversity, innovation, and an agile supply chain to maintain competitive advantage and drive growth across domestic and international markets.

What this transaction means for investorsThis sale looks like a routine trim by a longtime director. Peter Migliorini has followed a steady pattern of selling small blocks of shares once or twice a year, and this latest transaction leaves him with 16,830 shares, suggesting he still has meaningful skin in the game.

The bigger story for investors is Steven Madden's business momentum. Shares have surged about 81% over the past year as the footwear and accessories company continues expanding beyond its flagship brand. First quarter revenue climbed 18% year over year to $653.1 million, while reported diluted earnings nearly doubled to $1.00 per share. The company also raised its full-year revenue outlook, now expecting sales growth of 10% to 12%, and introduced fiscal 2026 earnings guidance of $2.55 to $2.65 per share. CEO Edward Rosenfeld said the company saw "healthy underlying demand" across its brands, highlighting strong consumer response to the Steve Madden label and continued momentum at Kurt Geiger. He added that management expects earnings growth to resume in the second quarter and believes the company's "powerful brands, proven business model and talented team" position it for sustainable long-term growth.

For long-term investors, a relatively small insider sale matters far less than whether Steven Madden can continue integrating Kurt Geiger, grow its direct-to-consumer business, and deliver on the stronger outlook management just issued.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Artificial intelligence is rapidly shifting from the cloud to the devices we use every day. The first wave of generative AI relied on massive data centers packed with expensive graphics processors. The next phase is about making AI faster, cheaper, and more private by moving more of that computing directly onto smartphones, laptops, and vehicles. 

That transition has become a battleground for chipmakers, and Qualcomm (NASDAQ:QCOM | QCOM Price Prediction) believes the same technology it is developing for AI data centers can eventually power the next generation of edge devices.

Qualcomm’s Answer to AI’s Memory Problem At the center of Qualcomm’s strategy is a new chip architecture called high bandwidth compute (HBC). According to Qualcomm, HBC places dedicated AI accelerator logic directly beneath vertically stacked LPDDR memory using through-silicon vias (TSVs), dramatically shortening the distance data must travel between memory and compute.

That may sound like semiconductor jargon, but the problem it addresses is simple. Modern AI models spend an enormous amount of time moving data back and forth between memory and processors. Engineers refer to this bottleneck as the “memory wall.” As AI models grow larger, that movement increasingly consumes more power than the calculations themselves.

Qualcomm says HBC offers several advantages over traditional high-bandwidth memory (HBM) designs:

Feature Qualcomm HBC Traditional HBM Memory type LPDDR HBM Bandwidth efficiency ~6x higher bandwidth per watt Baseline Cost Lower Higher Primary target AI inference AI training and inference Those advantages could make HBC attractive not only for cloud providers but also for smartphones, PCs, and automotive systems where power efficiency is every bit as important as raw performance.

Qualcomm Is Building on Existing Technology — Not Reinventing It Qualcomm isn’t inventing an entirely new category of computing. Companies including Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD), Samsung, Micron Technology (NASDAQ:MU), and SK hynix already rely on advanced 3D memory stacking in AI accelerators. AMD’s MI300 family, for example, combines CPUs, GPUs, and HBM into tightly integrated packages, while Samsung has invested heavily in processing-in-memory technology.

The difference is Qualcomm’s focus on inference rather than training.

Inference — the process of generating AI responses — is becoming the largest long-term AI workload. By pairing lower-power LPDDR memory with near-memory compute, Qualcomm believes it can deliver better performance per watt while reducing total system costs.

That strategy also aligns with Qualcomm’s historical strengths. The company has spent decades optimizing chips for battery-powered devices, giving it deep expertise in LPDDR memory and power management. Extending those capabilities from smartphones into AI servers — and then bringing the architecture back to consumer devices — is an unusual but logical roadmap.

The cloud's grip on AI is slipping. Qualcomm’s 6x more efficient HBC architecture is the weapon finally breaking the hardware bottleneck. © 24/7 Wall St. Heat Remains the Biggest Challenge Granted, stacking logic directly beneath memory creates one major engineering challenge: heat.

In any 3D package, heat generated by the compute die must travel upward through multiple silicon layers before reaching a cooling solution. That creates hotspots that can reduce performance or shorten component life if temperatures climb too high.

Data centers can offset this with liquid cooling and sophisticated thermal systems. Smartphones, laptops, and vehicles have far tighter space and power constraints.

Qualcomm believes several factors help manage those thermal challenges:

LPDDR consumes less power than HBM. Advanced bonding materials reduce thermal resistance. Dynamic power management can throttle workloads before overheating occurs. Qualcomm’s experience designing mobile processors gives it an advantage in balancing sustained performance and battery life. That said, investors should wait for independent benchmarks. Real-world testing will determine whether HBC delivers its promised gains without sacrificing sustained performance.

Key Takeaway In short, Qualcomm’s high-bandwidth compute architecture isn’t a revolutionary break from existing semiconductor design, but it could become an important evolution in AI computing. Rather than chasing Nvidia in massive AI training clusters, Qualcomm is targeting the next wave of AI inference with an architecture designed around efficiency instead of brute force.

If Qualcomm succeeds, the payoff could extend well beyond data centers. Smartphones, PCs, and connected vehicles could run larger AI models locally, reducing cloud costs, improving privacy, and extending battery life. The remaining question isn’t whether the idea is compelling — it is whether Qualcomm can prove its thermal design and manufacturing approach work at scale. For long-term investors, those benchmarks and early customer deployments will be worth watching closely.

The AI boom has transformed one of the semiconductor industry’s most cyclical businesses into one of its tightest markets. Memory chips, once plagued by oversupply and collapsing prices, have become one of the biggest bottlenecks for AI infrastructure. 

That shortage has helped lift Micron Technology (NASDAQ:MU | MU Price Prediction), Samsung Electronics, and SK hynix to record profitability as demand for premium memory far exceeds supply. It is in this environment that Apple (NASDAQ:AAPL) is reportedly lobbying the Trump administration for permission to buy memory chips from a blacklisted Chinese supplier.

Micron investors are worried that if a new supply channel is opened, the memory chipmaker’s pricing power, margins, and ultimately its stock could be pressured. However, they needn’t be concerned.

Apple’s Problem Isn’t Micron’s Problem The Financial Times reported that Apple has been lobbying several federal agencies and officials for approval to purchase memory chips from China’s ChangXin Memory Technologies (CXMT), a company placed on the U.S. Entity List because of its ties to the Chinese government and military. Buying from CXMT is reportedly not outright illegal, but doing so without government approval could expose Apple to political backlash and reputational damage.

Apple’s motivation is easy to understand. The company just announced price hikes of roughly 20% on several MacBook and iPad models after CEO Tim Cook said Apple could no longer absorb rising component costs. Its stock suffered its largest single-day loss in more than a year. Memory has become one of the fastest-growing expenses inside consumer electronics, and Apple has long used its enormous purchasing power to squeeze suppliers for lower prices.

Some investors fear that if Washington grants Apple permission, CXMT could become a new source of supply that weakens Micron’s positioning. 

Here is where their markets actually stand:

Company Primary Memory Focus HBM Production Micron DRAM, NAND, HBM Yes Samsung DRAM, NAND, HBM Yes SK hynix DRAM, NAND, HBM Yes CXMT Commodity DRAM No CXMT manufactures conventional DRAM products, including DDR5 memory for PCs and servers, LPDDR5X and LPDDR4X for smartphones and mobile devices, and enterprise RDIMM and MRDIMM modules. What it does not manufacture is high bandwidth memory (HBM), the premium chips powering Nvidia‘s (NASDAQ:NVDA) AI accelerators and the data centers behind today’s AI spending boom.

That distinction matters because HBM carries much higher margins than commodity DRAM, and it remains the product driving Micron’s earnings growth.

Apple Helped Create Today’s Memory Shortage Surprisingly, it was Apple itself that helped create the pricing environment it now wants relief from.

During the last memory downturn, DRAM prices collapsed so far that suppliers, including Micron, saw gross margins sink into negative territory. Apple used its position as the world’s largest memory buyer to negotiate rock-bottom prices. Micron Chief Business Officer Sumit Sadana publicly criticized those negotiations, saying Apple’s purchasing tactics were “not constructive” because they discouraged suppliers from investing in new manufacturing capacity.

Many producers delayed or canceled expansion projects. Then AI arrived.

Exploding demand for AI servers rapidly consumed available DRAM capacity, while HBM production became the industry’s highest priority. Years of underinvestment left the market unable to respond quickly, producing today’s shortage and elevated pricing.

In short, Apple is dealing with consequences that were, at least in part, created by the pricing pressure it once imposed on suppliers.

Congressional Scrutiny Remains a Major Obstacle Granted, Apple could still receive government approval, but the political hurdles remain substantial.

Apple attempted something similar in 2022 when it considered sourcing memory from another blacklisted Chinese manufacturer, YMTC. Members of Congress immediately warned the company that moving forward would invite legislative repercussions. CXMT carries many of the same national security concerns, making any approval likely to receive intense congressional scrutiny.

Regardless, even if Apple succeeds, the competitive impact on Micron appears limited. CXMT competes in mainstream DRAM, while Micron’s investment dollars are increasingly directed toward high-margin HBM products where demand continues to exceed supply.

Key Takeaway Apple’s lobbying effort reflects its desire to reduce memory costs after raising hardware prices, not a shift in the competitive landscape for AI memory. CXMT may eventually become another supplier of commodity DRAM, but it does not produce HBM, the segment generating Micron’s strongest growth and profitability.

Ultimately, investors worried this development threatens Micron’s long-term outlook are focusing on the wrong part of the memory market. Apple’s search for cheaper chips says more about its own cost pressures than it does about Micron’s competitive position.

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An exclusive look inside GE Vernova's largest gas turbine plant in Greenville, South Carolina, offers fresh evidence that the artificial intelligence boom is going strong.

Inside, engineers are working alongside factory workers to speed up production of this complex machine. The company hired 200 workers last year, and 300 more are expected to start working at this factory by the end of the year.

Fueling the growth is AI.

Hyperscalers — companies like Amazon, Google, Microsoft and Oracle — are lining up to buy the company's gas turbines. With AI data centers requiring a considerable amount of energy and bottlenecks in the grid emerging, these companies are increasingly relying on standalone energy sources, like gas turbines.

"Right now, when you need power at scale and you need firm power, the industrial gas turbine is one of the leading solutions for that," Pablo Koziner, chief commercial and operations officer at GE Vernova, told CNBC.

The AI opportunity is prompting leaders from OpenAI and other companies to gain a deeper understanding of industrial design and power generation.

Executives from nearly every major hyperscaler have walked the floor of the factory, according to a person familiar with the visits, who asked not to be named because the details are not public.

Read more CNBC tech newsOracle stock has worst week since 2001 dot-com bust as AI financing concerns escalateOpenAI hasn't held pre-IPO investor meetings or set timeline yet, sources sayOpenAI and Anthropic face new AI reality as users shift from 'tokenmaxxing' to efficiencyOpenAI limits new AI models to 'trusted partners' at request of U.S. governmentThe turbines are massive, at 31 feet tall and weighing 280 tons. One turbine can power roughly half a million homes.

"When we think of what the world needs for electrification and what we need to power this AI surge that we're living, a lot of that stuff comes right out of this factory," said Koziner.

Microsoft just bought seven of them to power its data center in Texas. At 2.7 gigawatts, it's enough electricity to power about 3 million homes. 

GE Vernova turbines are already online at Elon Musk's xAI Colossus 1 campus in Tennessee, and nearly a gigawatt more are being deployed at OpenAI's Stargate project in Texas, according to Cleanview, an organization that tracks data center development. 

Demand for these machines far outstrips supply, with the order book full through 2029. Koziner added that the company is booking more into 2030 and even 2031.

"Today, about 20% of our gas power order book is going to a data center, artificial intelligence-type of application," he said.

One turbine can cost more than $250 million, according to industry estimates. The price has soared, up 300% in the last 3 years, according to analysts at Melius. The steep rise in prices underscores why AI capital expenditure budgets continue to move up, a leading concern among tech investors.

That spending surge has been a boon for GE Vernova, with its stock gaining nearly 60% in the past six months.

Public pushback on data center development and growing environmental concerns could challenge the AI buildout.

GE Vernova said it's working on making its turbines more environmentally friendly.

"We also put a lot of time and effort into the sustainability of these machines," Koziner said. "And the turbine that you're looking at here is two times more efficient than a turbine that we would have produced 20 years ago."

GE Vernova stock chart.

The artificial intelligence boom has long been pitched as a transformative force that would boost productivity and eventually lower costs across the economy.

But this week, investors were confronted with a less discussed consequence of the AI race: higher prices.

Apple and Microsoft both announced product price increases on Thursday, citing soaring costs for memory and storage technologies that have become increasingly scarce as technology giants pour hundreds of billions of dollars into building AI infrastructure.

The moves reinforced growing concerns that, at least in the short term, AI may prove inflationary rather than disinflationary.

"Apple and Microsoft's price rises have struck at the market's fear of inflation, raising worries that, far from being deflationary, the AI boom might be inflationary, particularly for the hard-pressed consumer, hurting rather than aiding economic growth," Chris Beauchamp, chief market analyst at IG, said.

Apple raised prices on several MacBook and iPad models by between $100 and $300, though it left iPhone prices unchanged.

"The rapid expansion of AI data centers has created an extraordinary surge in demand for memory and storage. We have never seen a component price increase this much, this quickly," Apple said in a statement.

The company added that it had "reached a point where we need to begin raising prices on a number of products," while indicating that additional increases remain possible.

The market reaction was swift. Apple shares tumbled 6%, their worst single-day decline in more than a year.

Microsoft announced similar measures.

The software giant said prices of Xbox consoles would rise globally, with increases of $100 for 512-gigabyte models and $150 for one-terabyte versions effective Aug. 1.

The company also said it would discontinue its two-terabyte Xbox model.

The moves added to a growing list of technology manufacturers raising prices this year.

Dell, HP, Lenovo and Asus have all flagged higher prices, while Samsung increased prices on two variants of its Galaxy S26 smartphones in the United States by $100.

The price increases stem from an unprecedented shortage of memory chips.

Memory and storage components have become critical ingredients in the AI boom as hyperscalers race to build increasingly powerful data centres.

Suppliers have shifted production toward high-bandwidth memory chips used in AI servers, leaving consumer electronics manufacturers scrambling for supplies.

"The four largest US technology companies are forecast to spend $725 billion on data centers and AI equipment in 2026 alone. That level of demand for memory chips has created a shortage the supply chain cannot keep pace with," said James Bull at RSM UK.

Bull said it had become increasingly evident that the costs of building the AI economy were being passed on to consumers and potentially to the broader inflation outlook.

Morgan Stanley analysts warned earlier this month that soaring memory prices could trigger "chipflation" across industries.

The brokerage said memory chip prices had risen six-fold over the past year.

"What began as an AI infrastructure bottleneck is now spreading into hardware margins, device affordability, cloud costs, inflation and policy," the bank wrote in a note.

Some economists believe the inflationary impact of AI extends beyond semiconductors.

According to an April note by JPMorgan Asset Management's Chief Global Strategist David Kelly, the enormous spending wave tied to AI development is likely to be inflationary in the near term rather than deflationary because demand is hitting the economy well before productivity gains materialise.

Kelly acknowledged that rising memory-chip prices are one channel through which AI investment could feed into higher prices, but said they do not yet represent a major source of economy-wide inflation.

Instead, he pointed to other emerging pressures. One of the clearest examples is electricity demand.

"One aspect of this demand is spending on electricity. After more than a decade of no growth, US electricity production rose by 2.5% in 2024, 2.4% in 2025 and was up by 3.0% year-over-year in March of 2026," he said, noting that much of the increase was driven by data centre consumption and the growing use of AI models for training and inference.

Kelly said this likely contributed to a 4.6% year-over-year increase in consumer electricity prices in March.

However, because electricity carries a weight of only about 2.5% in the consumer price index basket, higher power costs accounted for just 0.1 percentage point of March's 3.3% annual rise in headline inflation.

The construction boom linked to AI data centres is also creating labour pressures.

Construction workers saw wages rise 4.3% year-over-year in March, outpacing the 3.5% increase recorded across the broader private sector.

However, Kelly said this acceleration was probably driven more by labour shortages than by AI itself.

The total number of US construction workers increased only 0.7% over the past year, partly reflecting a sharp reversal in immigration trends in a sector that has historically relied heavily on immigrant labour.

Kelly, however, said it was unlikely that most corporations had so far realised significant cost savings from deploying the latest AI models and even less likely that any savings had been passed on to consumers.

"There is a small but growing number of layoff announcements explicitly attributed to AI and there are some signs of diminished hiring of entry-level workers in the most AI-exposed industries," he said.

He added that fears that AI will "take your job" could also be making workers more cautious, with economywide year-over-year wage growth falling to an almost five-year low in March.

However, more recent data from global outplacement firm Challenger, Gray & Christmas suggests AI's impact on employment is becoming more pronounced, though.

US-based employers announced 97,006 job cuts in May, with artificial intelligence accounting for roughly 40% of all layoffs announced during the month.

It marked the third consecutive month in which AI was the leading reason cited for job reductions.

"Despite this labor market 'scare' effect, however, it does appear that AI is, on balance, adding slightly to inflation in the short run, although it will be far from the most important inflation driver. If this continues to be the case, over say, the next two years, then this alone would negate the idea that a disinflationary impulse from AI supports the need for short-term interest rate cuts," Kelly said.

He expects AI to become a powerful disinflationary force over the longer term as productivity gains begin to emerge and spread across the economy.

Goldman Sachs has echoed that assessment, saying AI is currently adding to inflationary pressures even though it should ultimately lower production costs and lift economic growth.

"We expect artificial intelligence to deliver large productivity gains over the next several years, boosting the economy's potential growth rate and putting downward pressure on production costs. So far, however, AI is boosting US inflation," Goldman Sachs economists wrote last month.

Mechanical and electrical contracting services company Comfort Systems USA (FIX 7.95%) is a major winner from surging artificial intelligence (AI) data center investment. A high proportion of a data center's cost is in mechanical, electrical, and plumbing (MEP) systems, not least to ensure adequate cooling for heat-intensive IT racks. That's led to booming demand for the company's services and an incredible 1,160% return for investors over the last three years.

Comfort Systems revenue growth and margin expansion The increase comes down to surging orders driving backlog and revenue growth, along with margin expansion. The growth in its backlog (shown below) leads to highly predictable revenue growth in the future.

Data source: Comfort Systems presentations. Chart by the author.

Permanent margin expansion? Turning to the question of margin expansion, it comes from a combination of being able to selectively bid on complex and higher-margin AI data center projects, a natural leverage opportunity, as the marginal increase in revenue isn't accompanied by a significant increase in overhead costs, and the increase in its modular revenue, which represented 17% of its revenue in the first quarter of 2026.

Modular systems are manufactured at Comfort Systems locations (rather than onsite by tradespeople) and then transported and fitted onsite. It's a solution that confers several benefits for Comfort Systems and facility owners, such as optimizing MEP labor, improving quality control, and ensuring no disruption to the critical path of construction.

Although management doesn't break out modular revenue margins, it acknowledges its role as a contributor to the company's profit margin expansion in recent years. Moreover, management is expanding its modular capacity by 3 million square feet in 2025 to 4 million square feet by the end of 2026.

Data by YCharts.

Trading at 45 times expected 2026 earnings, the stock's valuation is arguably up with events. Still, if you think the AI data center spending boom is in its early innings, the momentum in orders and backlog growth could take the stock higher.

Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Comfort Systems USA. The Motley Fool has a disclosure policy.

The beating heart of the artificial intelligence (AI) boom is, without a doubt, Nvidia (NVDA 1.42%). The chipmaker's graphics processing units (GPUs) -- the specialized chips that do the heavy math behind AI -- power the data centers that train and run ChatGPT, Claude, and the vast majority of AI models.

It's no surprise, then, that Nvidia has managed a multiyear win streak nearly unmatched in the modern era. In its fiscal 2022, the company booked $26.9 billion in revenue. Over the last 12 months, it booked nearly 10 times that -- $253.5 billion.

The stock has followed suit, up more than 600% since January 2022.

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That kind of run can make an investor nervous. As unstoppable as Nvidia looks, there are real risks here, and most of them have been talked to death -- customer concentration, fierce competition, the physical limits of the AI build-out. But the one I think matters most still flies under the radar.

Nvidia's fortunes depend on big tech's spending spree The AI boom is being fueled, in large part, by the capital expenditures (capex) -- the money a company sinks into long-term assets like buildings and equipment -- of just a handful of firms. Big tech names like Meta, Alphabet, Amazon, Microsoft, and Oracle are spending on a scale we've never seen. Last year alone, these five shelled out a combined $412 billion -- well over twice the total just two years prior.

That capex is the lifeblood of the AI economy. It flows to the construction firms building the data centers, the neoclouds operating them, and, most critically, to chipmakers like Nvidia.

So if that spending slows, Nvidia is in trouble. That much is obvious. What's not obvious is why it might.

Why big tech's profits look better than they really are Investors have stomached the enormous spending these past few years for one simple reason: They've watched big tech's earnings grow right alongside it. You see earnings per share (EPS) -- a company's profit divided across its shares -- jump 100%, and you stop worrying about the bill. Why fret about spending when profits are exploding?

Here's the thing: There's a lag in the system, and that profit growth could soon look a lot smaller than it does today.

When Meta spends $50 billion on Nvidia chips, that doesn't hit the books as an expense all at once. It counts as capex, and Meta can spread the cost over time. Say, $10 billion a year for five years.

That's depreciation: spreading the cost of a big purchase across the years a company expects to use it. There's nothing shady about it. It's the same thing every business with trucks or factories has always done.

What's different is the scale and the timing. A company often doesn't start the depreciation clock until the equipment actually goes into service -- and given how long it takes to build an AI data center, that can be a long wait.

Image source: Nvidia.

The depreciation wall is coming We're in a stretch where revenue is climbing while the true cost of all those chips hasn't fully shown up in earnings yet -- a "golden window where everybody looks good," as one Morgan Stanley analyst put it. That period won't last. A wall of depreciation is coming, and when it lands, it could drag down big tech's reported earnings.

And that's when investors may start to care about the spending. Faced with shrinking earnings, the Metas and Amazons of the world could trim those massive capex plans. Fewer dollars spent means fewer chips ordered, and fewer chips is bad news for anyone holding Nvidia.

Nvidia's stock could fall before its sales do Now, bulls will tell you Nvidia's order book is booked solid -- CEO Jensen Huang says he expects a $1 trillion backlog by the end of the year -- so there's not a real risk to Nvidia's sales coming any time soon.

I don't discount that, but stock prices are based on where investors think things are headed. Which means that Nvidia shares can take a hit well before Nvidia's actual order book does. All that's required is for investors to believe big tech is likely to scale back in the coming years.

What investors should watch for The real questions are when this happens and how big the hit will be -- and, I'll be honest, no one knows. You can see the uncertainty in Wall Street's own forecasts. Analysts' revenue targets for big tech over the next few years are fairly tight. Their depreciation estimates are all over the map.

None of this makes Nvidia a bad company -- it's a great one, selling every chip it can make. But Nvidia relies on capex spending continuing to expand. That could slow once investors start to see the true cost of that spending show up in income statements. For my money, the depreciation wall is a big reason I'd think twice before buying Nvidia shares today.

The market for weight-loss drugs, led by GLP-1 medicines like Wegovy, is on a rapid northbound trajectory. One good way to capitalize on it is to invest in pharmaceutical companies that currently lead this niche or have the potential to establish a strong foothold. However, it isn't just drugmakers that may profit from the rapid rise of the GLP-1 category. Other companies across the healthcare delivery funnel could also see increased sales and profits thanks to this trend, and CVS Health (CVS 0.26%), a leading pharmacy chain, is one of them. The company recently announced a GLP-1 program that had Wall Street buzzing, as some analysts think the move makes the stock more attractive. Should investors consider buying CVS Health's shares right now?

Image source: The Motley Fool.

Making GLP-1 medicines more accessible Weight-loss drugs haven't been easy for patients to obtain. One of the main reasons for that is cost. GLP-1 medicines are expensive. Even with recent price drops, they can cost several hundred dollars per month -- a meaningful hit to many patients' budgets. And since insurance coverage for these therapies for weight loss has been spotty at best, many are left having to forego them, even when they need them. Further, some physicians have been somewhat hesitant to prescribe GLP-1s to patients due to coverage issues and other factors. And even when patients start taking these medicines, a meaningful number experience uncomfortable side effects that make their weight loss journeys challenging.

Enter CVS Health. The company recently announced a program to help patients through all this, available at its more than 9,000 pharmacies across the U.S. CVS Health will offer virtual visits priced at $49 with clinicians who can evaluate patients and prescribe GLP-1 medicines. The drugs will cost as little as $25 per month for patients with insurance coverage, $50 per month for eligible Medicare patients, or will start at $149 monthly for those without insurance. The pharmacy giant will also provide one-on-one professional support and access to over-the-counter products to help people manage side effects.

This initiative could attract many patients to the company's platform and help boost revenue in its retail pharmacy division. Allen Lutz, an analyst at Bank of America (BAC 0.53%), recently raised his price target on the stock to $110 from $100 following these developments. The company's shares are currently trading at about $104 each, so the new price target implies a modest upside from current levels.

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Is CVS Health stock a buy? CVS Health has performed well over the past 18 months, after several years of challenges. The company's financial results have improved as it has made significant headway in containing costs within its Medicare Advantage division, where rising expenses were eroding its profits and margins. In the first quarter, CVS Health's revenue grew by a healthy 6% year over year to $100.4 billion, while its adjusted earnings per share rose 14% to $2.57. CVS Health also increased its guidance for the full fiscal year 2026.

The healthcare giant's ability to successfully weather the storm it faced in recent years and bounce back speaks volumes about its resilience as a business. And on top of that, CVS Health also has outstanding long-term prospects. The company's well-known brand name, extensive network of retail locations, and diversified healthcare business spanning pharmacy services, insurance, primary care, and more enable it to remain with patients throughout much of their care journey.

That's exactly what it is doing with its new GLP-1 program: offering consultations, medicines, and insurance coverage for eligible patients, as well as one-on-one follow-up with professionals and over-the-counter medications to help manage side effects. The diversified nature of CVS Health's business grants the company a strong competitive advantage and may help it capitalize on the healthcare sector's expansion over the next few decades, especially as the world's population ages.

Lastly, CVS Health is also a solid dividend stock, with a forward yield currently of 2.5%, compared to the S&P 500's average of 1.1%. The company has increased its payouts by 56.5% over the past decade. All these are good reasons why it's worth it for long-term income seekers to purchase CVS Health's shares.

Despite reporting its fastest quarterly growth since the pandemic in the first quarter, Meta Platforms (META +1.50%) has struggled this year.

The stock is down 17% year-to-date due to concerns about rising capital expenditures, layoffs, and artificial intelligence strategy that increasingly seems undisciplined.

As a result, Meta stock is looking unusually cheap, trading at a forward P/E of just 17, which is dirt cheap for a company that just grew its revenue by 33%.

At this point, the company needs a catalyst to change its narrative, and it's hopeful that its latest iteration of smart glasses can help do that.

Image source: The Motley Fool.

Meta has been building out its smart glasses business for years now, partnering with brands like Ray-Ban and Oakley.

At $299, the new Meta are $80 less than its previous entry-level glasses, and it's partnering with Ray-Ban parent EssilorLuxottica to make them, though they won't carry the Ray-Ban brand.

The glasses come in 26 styles and include Meta AI, powered by Muse Spark, its new and improved large language model that replaced LLaMa.

Meta sees glasses as the ideal device for the AI era, as users can easily communicate with them, and they provide an AI assistant that can see what you're seeing.

EssilorLuxottica said it sold more than 7 million of the AI glasses in 2025, up from just 2 million combined in 2023 and 2024, a sign that smart glasses are making progress in going mainstream.

However, Meta will have to ramp up glasses considerably to move the needle on the top line. Assuming an average price of $400 for those glasses, they would generate $2.8 billion in revenue, though that would be split between the two companies.

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Meta's AI strategy In 2025, Reality Labs, Meta's division that contains its smart devices, including glasses and VR headsets, AI labs, and metaverse projects, reported just $2.2 billion in revenue, essentially flat from the year before. Reality Labs lost $19.2 billion due to its spending on AI infrastructure. In 2026, the company expects 70% of its Reality Labs, or roughly $15 billion in expenses, to go to wearables like glasses and VR headsets.

Given the ongoing losses at Reality Labs and the company's plan to spend $125 billion-$145 billion in capital expenditures this year, it's understandable that investors want to see a return on that investment. Some of its AI spending is going to support the core family of apps business, and its advertising engine, which brought in more than $80 billion in operating income last year.

Meta is also the only one of the four major hyperscalers, which includes Amazon, Alphabet, and Microsoft, that doesn't have a cloud computing business. CEO Mark Zuckerberg has said that starting one is "definitely on the table," and doing so seems like a smart move for the company, as it's already receiving interest from prospective customers.

In the AI era, demand for cloud infrastructure has skyrocketed, and Amazon, Alphabet, and Microsoft are all seeing accelerating growth in their cloud businesses, a sign that there would be sufficient demand for a Meta Cloud.

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What it means for investors At this point, Meta seems oversold. Like Microsoft, the stock has tumbled on concerns that it's overspending on capex, but there's no structural risk to the advertising business, and a forward P/E of 17 is a great price to pay for a company that dominates social media and has an operating margin of 41%, even with the losses in Reality Labs.

For the glasses business to make up 10% of its current revenue, Meta would need to grow that business to $20 billion, which could mean selling around 40 million of them. That won't be easy, but its recent progress shouldn't be overlooked, and a price point as low as $299 is likely to pull in some buyers.

At the current stock price, Meta's risks seem more than priced in. The company doesn't need glasses to be successful for the stock to work, but investors seem to be overlooking the possibility that the business does continue to scale and establish a viable second revenue stream for Meta.

Shares of digital banking specialist SoFi Technologies (SOFI +3.58%) have had a rough 2026. As of this writing, the stock is down about a third year to date, sliding from about $26 at the end of 2025 to around $18.

But while many investors have been selling, the company's CEO has been doing the opposite. Anthony Noto has repeatedly stepped into the market to buy SoFi shares this year, most recently in mid-June.

When a chief executive buys his own stock with his own money -- especially after a steep drop -- it tends to get investors' attention.

Does Noto's conviction make SoFi a contrarian opportunity? Or is the sell-off a fair reflection of the company's risks?

Image source: Getty Images.

The CEO keeps buying On June 16, Noto bought 13,888 shares of SoFi on the open market at an average price of about $18 apiece, lifting his direct stake to nearly 12 million shares. And that purchase wasn't a one-off. Noto has added to his position several times in 2026, including in March and May, buying more each time the stock fell.

Insider buying like this is worth watching because executives understand their business far better than outside investors do. And open-market purchases carry particular weight. Unlike shares granted as compensation, these are bought with the executive's own cash -- a direct bet that the stock is worth more than the market currently thinks.

That said, Noto's recent buys, while notable, are small relative to his overall stake.

The more useful question is whether SoFi's underlying business backs up his confidence.

The business behind the buying On that front, Noto has plenty to point to. SoFi's first-quarter net revenue rose 43% year over year to a record $1.1 billion, as the company added a record 1.1 million members and pushed its total membership up 35% from a year earlier to 14.7 million.

Profits are scaling even faster than sales. SoFi's first-quarter net income more than doubled from the year-ago period to $167 million, and earnings per share doubled to $0.12. It was the company's 10th consecutive profitable quarter -- a notable milestone for a business that was losing money just a few years ago. Loan originations, meanwhile, reached a record $12.2 billion.

The company is also still finding new ways to grow. In late June, SoFi launched Composer by SoFi, an artificial intelligence (AI)-powered investing platform that lets users build, test, and automate investing strategies using everyday language.

"Composer has built one of the most innovative AI-powered investing platforms available to retail investors today," said Noto in the company's press release about the launch.

The platform emerged from SoFi's acquisition of Composer earlier this year, and the company plans to weave it into its SoFi Plus membership over time.

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So, why is the stock down so much?

The most likely answer is valuation. Even after the sell-off, SoFi trades at about 40 times earnings -- not cheap. But the multiple looks more reasonable measured against the company's growth. On the roughly $0.60 in adjusted earnings per share management expects SoFi to earn this year, its forward price-to-earnings ratio is about 29. For a business growing revenue north of 40% and rapidly expanding profits, that's hardly egregious.

The bigger concern is what SoFi is at its core: a fast-growing lender. Lending is cyclical and carries real credit risk. A weaker economy could push loan losses higher and pressure profits quickly -- and that risk, more than the valuation, is likely what has investors cautious.

Overall, SoFi's business continues to demonstrate impressive momentum. But I'd still be cautious. Shares aren't as expensive as they used to be. But they're not cheap either.

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP (“GPWR”), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Tang v. Futu Holdings Limited, et al., Case No. 1:26-cv-05453, on behalf of persons and entities that purchased or otherwise acquired Futu Holdings Limited (“Futu” or the “Company”) (NASDAQ: FUTU) securities between May 24, 2023 and May 27, 2026, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.

IF YOU SUFFERED A LOSS ON YOUR FUTU INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.

What Happened?

On December 30, 2022, the China Securities Regulatory Commission (“CSRC”) issued a statement that Futu has conducted cross-border securities businesses with domestic investors in mainland China without regulatory consent. As a result, Futu was banned from opening new accounts from mainland Chinese investors and soliciting new business from mainland investors.

Then, on May 22, 2026, before the market opened, Reuters published an article reporting that the CSRC, along with seven other government agencies including the central bank, had launched a crackdown aimed at “brokers it accused of illegally moving money to foreign markets” including “overseas firms and their local partners operating without approval.” The article reported “online brokers Tiger, Futu and Longbridge would be penalised for soliciting business in China without an onshore licence, the securities regulator said.”

On the same date, pre-market, Futu issued a press release disclosing that it had received a Notification Letter from the CSRC. The Company reported the letter states “certain Futu entities in mainland China and Hong Kong … without obtaining the requisite licenses or approval, conducted securities business, public fund sales business and futures business in mainland China.” The letter further states the CSRC “proposes to order the Related Companies to rectify or cease such activities, confiscate illegal gains, and impose fines, with the total proposed penalty amounting to approximately RMB1.85 billion (approximately USD271 million).” Further, the regulatory authority “proposes to impose a personal fine of RMB1.25 million (approximately USD 183,575) on Mr. LI Hua, the founder and CEO of the Company.”

On this news, Futu’s stock price fell $34.10, or 27.5%, to close at $89.76 per share on May 22, 2026, on unusually heavy trading volume.

Then, on May 28, 2026, before the market opened, Futu issued a press release reporting financial results for the first quarter 2026, including net income of HK$831.0 million (US$106.0 million) after giving effect to the proposed penalties comprised of: “(i) confiscation of illegal gains of approximately RMB470 million [approximately $69.21 million USD], and (ii) imposition of fines of approximately RMB1.38 billion, [approximately $20 billion USD] in an aggregate amount of approximately RMB1.85 billion.” The press release reported this adjustment under the Company’s financial statements as “Others, net” in its statements of comprehensive income for the applicable period.

On this news, Futu’s stock price fell $5.31, or 4.8%, to close at $104.91 on May 28, 2026, on unusually heavy trading volume.

What Is the Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Futu was not in compliance with the requirements of the CSRC, including because the Company continued to conduct securities business, public fund sales business and futures business in mainland China without obtaining the requisite licenses or approval; (2) as a result, Futu was reasonably likely to face regulatory penalties, including the disgorgement of ill-gotten gains and other penalties; (3) as a result of the foregoing, Futu’s financial results were overstated; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired Futu securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff.

Contact Us to Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Charles Linehan, Esq.
Glancy Prongay Wolke & Rotter LLP
1925 Century Park East, Suite 2100
Los Angeles, California 90067
Email: [email protected]
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

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

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

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

GRAPEVINE, Texas--(BUSINESS WIRE)--GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that, for the fiscal year ending January 30, 2027 ("fiscal year 2026"), the Company currently expects to generate Adjusted EBITDA in excess of $600 million, compared to Adjusted EBITDA of $345.4 million in fiscal year 2025.

GameStop's leadership team remains focused on advancing the proposed acquisition of eBay, Inc. ("eBay"). Additional materials regarding the proposed transaction are forthcoming.

A Current Report on Form 8-K furnishing the Company's fiscal year 2026 outlook has been filed with the Securities and Exchange Commission and is available at www.sec.gov and on the Company's investor relations website at investor.gamestop.com.

NON-GAAP MEASURES AND OTHER METRICS

As a supplement to the Company’s financial results presented in accordance with U.S. generally accepted accounting principles ("GAAP"), GameStop may use certain non-GAAP measures, including adjusted EBITDA. Adjusted EBITDA is a supplemental financial measure of the Company’s performance that is not required by, or presented in accordance with, GAAP. We believe that the presentation of this non-GAAP financial measure provides useful information to investors in assessing our core operating performance, financial condition and results of operations. We define adjusted EBITDA as net income before income taxes, plus interest income, net and depreciation and amortization, excluding stock-based compensation, certain transformation costs (including severance and other costs), business divestitures, asset impairments, gain (loss) on digital assets and related receivables, unrealized gain (loss) on derivative assets, and other non-cash charges. Net income is the GAAP financial measure most directly comparable to adjusted EBITDA. Our non-GAAP financial measures should not be considered as an alternative to the most directly comparable GAAP financial measure. Furthermore, non-GAAP financial measures have limitations as an analytical tool because they exclude some but not all items that affect the most directly comparable GAAP financial measures. Some of these limitations include:

certain items excluded from adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, results of operations or cash flows; adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements; and our computations of adjusted EBITDA may not be comparable to other similarly titled measures of other companies. We compensate for the limitations of adjusted EBITDA as analytical tools by reviewing the comparable GAAP financial measure, understanding the differences between the GAAP and non-GAAP financial measures and incorporating these data points into our decision-making process. Adjusted EBITDA is provided in addition to, and not as an alternative to, the Company’s financial results prepared in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because adjusted EBITDA may be defined and determined differently by other companies in our industry, our definitions of this non-GAAP financial measure may not be comparable to similarly titled measures of other companies, thereby diminishing their utility.

With regards to forward-looking guidance for adjusted EBITDA, we are not able to reconcile the forward-looking non-GAAP measure of adjusted EBITDA to the closest corresponding GAAP measure, net income, without unreasonable efforts because we are unable to predict the ultimate outcome of certain significant items.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS - SAFE HARBOR

This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by the use of terms such as "anticipates," "believes," "continues," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "pro forma," "seeks," "should," "will" or similar expressions. Forward-looking statements are subject to significant risks and uncertainties and actual developments, business decisions, outcomes and results may differ materially from those reflected or described in the forward-looking statements. The following factors, among others, could cause actual developments, business decisions, outcomes and results to differ materially from those reflected or described in the forward-looking statements: the performance of our business and our ability to generate earnings in line with our guidance; economic, social, and political conditions in the markets in which we operate; the competitive nature of the Company’s industry; the cyclicality of the video game industry; the Company’s dependence on the timely delivery of new and innovative products from its vendors; the impact of technological advances in the video game industry and related changes in consumer behavior on the Company’s sales; interruptions to the Company’s supply chain or the supply chain of our suppliers; the Company’s dependence on sales during the holiday selling season and on the popularity and sale of trading cards; the Company’s ability to obtain favorable terms from its current and future suppliers and service providers; the Company’s ability to anticipate, identify and react to trends in pop culture with regard to its sales of collectibles; the Company’s ability to maintain strong retail and ecommerce experiences for its customers; the Company’s ability to keep pace with changing industry technology and consumer preferences; how the Company incorporates artificial intelligence into workflows and processes, including customer-facing and operational activities, and challenges with properly managing its use; the Company’s ability to manage its profitability and cost reduction initiatives; the Company’s ability to complete its proposed acquisition of eBay Inc.; changes in senior management or the Company’s ability to attract and retain qualified personnel; the Company is highly dependent on the services of the Company’s Chairman of the Board and Chief Executive Officer, Ryan Cohen; if the grant of a 100% performance-based nonqualified stock option award (the “CEO Performance Award”) to Mr. Cohen is not approved by the Company’s stockholders or if the Company is unable to adequately incentivize Mr. Cohen to maintain his focus and priorities on the Company, the Company's ability to execute on its strategy and achieve its growth goals may be adversely impacted; the CEO Performance Award, if and to the extent the stock options associated become vested and are exercised, would result in dilution to the Company’s stockholders and could impact the Company’s stock price; potential damage to the Company’s reputation or customers' perception of the Company; the Company's ability, or the ability of the third parties with whom we work, to maintain the security of our information technology systems or data (including customer, associate or Company information); the Company's compliance with stringent and evolving laws and other obligations related to data privacy and security; occurrence of weather events, natural disasters, public health crises and other unexpected events; risks associated with inventory shrinkage; potential failure or inadequacy of the Company's computerized systems; the ability of the Company’s third party delivery services to deliver products to the Company’s retail locations, fulfillment centers and consumers and changes in the terms the Company has with such service providers; the ability and willingness of the Company’s vendors to provide marketing and merchandising support at historical or anticipated levels; restrictions on the Company’s ability to purchase and sell pre-owned products; the Company’s ability to renew or enter into new leases on favorable terms; unfavorable changes in the Company’s global tax rate; legislative actions; the Company’s ability to comply with federal, state, local and international laws and regulations and statutes; changes to tariff and import/export regulations; potential litigation and other legal proceedings; the value of the Company's investment holdings; concentration of the Company's investment portfolio into one or fewer holdings; the recognition of losses in a particular investment even if the Company has not sold the investment; the execution and timing of share repurchases, if any, under the share repurchase authorization; volatility in the Company’s stock price, including volatility due to potential short squeezes; continued high degrees of media coverage by third parties; the availability and future sales of substantial amounts of the Company’s Class A common stock; the issuance of common stock upon the exercise of the warrants declared as part of the October 7, 2025 distribution to the holders of record of the Company's Class A common stock and holders of the Convertible Notes, in the form of warrants to purchase shares of common stock (the “Warrants”), may depress our stock price; future issuance of additional warrants may adversely affect the market price of the Warrants and the market price of the Company’s common stock; the Warrants do not automatically exercise, and any Warrant that is not exercised prior to their expiration date will lose all financial value; fluctuations in the Company’s results of operations from quarter to quarter; the Company’s ability to generate sufficient cash flow to fund its operations; the $1.5 billion 0.00% Convertible Senior Notes due 2030 (the “Convertible 2030 Notes") and $2,250.0 million 0.00% Convertible Senior Notes due 2032 (the "Convertible 2032 Notes" and, collectively with the Convertible 2030 Notes, the "Convertible Notes") are the Company’s obligations only, and substantially all of our operations are conducted through, and a portion of our consolidated assets are held by, our subsidiaries; servicing the Convertible Notes requires a significant amount of cash, and the Company may not have sufficient cash flow from our business to make such payments, and we may incur additional indebtedness in the future; the Company’s ability to incur additional debt; risks associated with the Company’s investment in marketable, nonmarketable and interest-bearing securities, including the impact of such investments on Company’s financial results; the Company's investment policy permits investments in certain cryptocurrency assets, including Bitcoin and U.S. dollar-denominated stable coins, and to the extent the Company holds Bitcoin or U.S. dollar denominated stable coins, the Company will be exposed to certain risks associated with Bitcoin or stable coins, respectively; the Company’s derivative strategy can expose it to counterparty risk; and the Company’s ability to maintain effective internal control over financial reporting. Additional factors that could cause results to differ materially from those reflected or described in the forward-looking statements can be found in GameStop's most recent Annual Report on Form 10-K and other filings made from time to time with the Securities and Exchange Commission and available at www.sec.gov or on the Company’s investor relations website (https://investor.gamestop.com). Forward-looking statements contained in this Press Release speak only as of the date of this Press Release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

Preliminary Financial Information

We report our financial results in accordance with U.S. generally accepted accounting principles. All projected financial information in this Press Release is preliminary. These estimates are not a comprehensive statement of our financial position and results of operations. There is no assurance that the Company will achieve its forecasted results within the relevant period or otherwise. Actual results may differ materially from these estimates as a result of actual quarter-end results, the completion of normal quarter-end accounting procedures and adjustments, including the execution of our internal control over financial reporting, the completion of the preparation and management’s review of our financial statements for the relevant period and the subsequent occurrence or identification of events prior to the filing of our financial results for the relevant period with the Securities and Exchange Commission.

No Offer or Solicitation

This communication relates to a business combination involving GameStop and eBay that has been proposed by GameStop (the “Proposed Transaction”). This communication is for informational purposes only and is neither an offer to sell or purchase, nor the solicitation of an offer to buy or sell, any securities (or the solicitation of any proxy or vote with respect to any matter), nor shall there be any sale or purchase, issuance or other transfer of securities (or the solicitation of any proxy or other vote) with respect to the Proposed Transaction or otherwise in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Certain Information Regarding Participants

GameStop and its directors and certain of its executive officers may be considered participants in the solicitation of proxies in connection with the Proposed Transaction, should the Proposed Transaction and any such solicitation occur. Information about the directors and executive officers of GameStop is set forth in GameStop’s definitive proxy statement for the 2026 Annual Meeting of Stockholders to be held July 7, 2026 at 10:00 a.m. CDT, which was filed with the SEC on May 22, 2026 (as supplemented from time to time, the “2026 Proxy Statement”), which is available here, including under the headings “Proposal 1: Election of Directors”, “Director Nomination Process”, “The Director Nominees”, “Director Nominee Qualifications and Experience”, “Biographies of Director Nominees”, “The Board of Directors”, “Corporate Governance”, “Director Compensation”, “Executive Officers”, “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”, “Compensation Committee Interlocks and Insider Participation”, “Proposal No. 2: Advisory Vote on Executive Compensation”, “Compensation Discussion and Analysis”, “Offer Letters and Severance/Change in Control Benefits”, “Compensation Committee Report on Executive Compensation”, “Executive Compensation Tables”, “CEO Pay Ratio”, “Pay Versus Performance”, “Equity Grant Practices”, “Securities Authorized for Issuance Under Equity Compensation Plans”, “Audit Committee Matters”, “Certain Relationships and Related Transactions”, “Proposal 4: Approval of CEO Performance Award”, “Summary of the Proposed CEO Performance Award”, “Reasons for Approval of the CEO Performance Award”, “Market Capitalization Hurdles with Cumulative Performance EBITDA Hurdles Create Real Value for Stockholders”, “Background of the CEO Performance Award”, “Key Terms of the Proposed CEO Performance Award”, “Other Details Regarding the Proposed CEO Performance Award”, “The Compensation Committee’s Assessment of the CEO Performance Award”, “Practical Implications of the CEO Performance Award” and “Appendix A: CEO Performance Award Agreement”. To the extent holdings of such persons in the Company’s securities have changed since the amounts described in the 2026 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Additional information can also be found in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026, filed with the SEC on March 24, 2026, which is available here.

As of the date hereof, GameStop directly beneficially owns 4,343,725 shares of common stock of eBay, par value $0.001 per share (the “Common Stock”), and has further entered into the long-side of a series of American-style put/call option transactions (the “Put/Call Pairs”), expiring February 23, 2028, with an unaffiliated financial institution counterparty that provide economic exposure to a further 39,046,658 shares of Common Stock. The Put/Call Pairs were only settleable in cash until such time as GameStop provided the unaffiliated financial institution counterparty with reasonable evidence that all applicable filings had been made and any applicable waiting periods had expired or approvals had been received, as applicable, under the Hart Scott Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act Condition”). On June 3, 2026, the HSR Act Condition was satisfied, and as a result, GameStop (in the case of the call portion of the Put/Call Pairs) and the unaffiliated financial institution counterparty (in the case of the put portion of the Put/Call Pairs) electing to settle the Put/Call Pairs now have the option, but not the obligation, to elect for physical settlement of the shares of Common Stock underlying such Put/Call Pairs in lieu of cash settlement. GameStop does not have voting power or dispositive power with respect to the shares of Common Stock underlying such Put/Call Pairs unless and until such Put/Call Pairs are physically settled for Common Stock. On May 3, 2026, GameStop delivered to the board of directors of eBay a non-binding proposal to acquire all of the outstanding Common Stock that it does not already own at a price of $125 per share of Common Stock, to be paid in a combination of cash and GameStop common stock. As a result of the foregoing, GameStop may be deemed to have direct or indirect interests with respect to eBay that are in addition to, or different from, those of other eBay shareholders.

Further information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in any proxy statement/prospectus and/or other relevant materials to be filed with the SEC in connection with the Proposed Transaction when they become available.

Disclaimer

Any information concerning eBay contained in this communication has been taken from, or based upon, publicly available information. Although GameStop does not have any information that would indicate that any information contained in this communication that has been taken from such documents is inaccurate or incomplete, GameStop does not take any responsibility for the accuracy or completeness of such information. To date, GameStop has not had access to the books and records of eBay.

More News From GameStop Corp.

Portfolio changes position the company to better serve customers and support long-term growth

, /PRNewswire/ -- International Paper (NYSE: IP; LSE: IPC), a leader in sustainable packaging, today announced strategic actions that aim to optimize its network, focus investments on the highest-value opportunities and better serve customers across North America. As a result, the company plans to cease its preprint operations at its Richwood, KY facility, and close its Aurora, IL sheet plant and converting plants in Elk Grove, CA and Barrington, NJ by the end of the third quarter 2026.

The decision reflects International Paper's ongoing strategy to strengthen its cost position, increase capacity, and provide customers with the highest quality sustainable packaging solutions.

"These are difficult but necessary decisions that strengthen our network, focus investments where they create the greatest value and position International Paper to better serve customers and compete for the long term. We are grateful to the employees affected and are committed to supporting them through this transition and ensuring a seamless experience for our customers," said Tom Hamic, Executive Vice President and President, Packaging Solutions North America, International Paper.

International Paper will support impacted employees with outplacement assistance, severance and benefits. The company expects to transition affected customers to other facilities within each region to ensure continuity of supply.

About International Paper (NYSE: IP; LSE: IPC)
International Paper creates sustainable packaging solutions that enable our customers, teammates and shareowners to thrive in an ever-changing world. We are a leader in corrugated packaging, partnering with customers across industries to protect what matters most, strengthen supply chains and create lasting value. Learn more at internationalpaper.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by the use of forward-looking or conditional words such as "intend," "aim," "may," "will," "expect," and "plan" or similar expressions. These forward-looking statements reflect management's current views and are subject to risks and uncertainties that could cause actual results and the timing of events to differ materially from those expressed or implied in these forward-looking statements. These risks and uncertainties include the risk of the Company's ability to achieve the desired outcome and realize the anticipated benefits from its strategic transformation initiatives. These forward-looking statements are also subject to the risks and uncertainties contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission ("SEC") on February 21, 2026, and subsequent reports filed with the SEC. In addition, other risks and uncertainties not presently known to the Company or that we currently believe to be immaterial could affect the accuracy of any forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements contained in this press release, whether as a result of new information, future events or changes in expectations.

SOURCE International Paper

, /PRNewswire/ -- Select Medical Holdings Corporation (NYSE: SEM) ("Select Medical," "we," "us," or "our") confirmed today that its previously announced Agreement and Plan of Merger (the "Merger Agreement," and the transaction contemplated thereby, the "Merger") with an entity affiliated with a consortium led by Robert A. Ortenzio, Executive Chairman, Co-Founder and Director of Select Medical, Martin F. Jackson, Senior Executive Vice President of Strategic Finance and Operations of Select Medical, and Welsh, Carson, Anderson & Stowe ("WCAS" and, together with Mr. Ortenzio and Mr. Jackson, the "Consortium") was approved at a special meeting of Select Medical's stockholders (the "Special Meeting") on June 26, 2026. The closing of the Merger remains subject to the terms and conditions of the Merger Agreement, as described more in detail in the Definitive Proxy Statement on Schedule 14A (the "Definitive Proxy Statement"), filed with the U.S. Securities and Exchange Commission (the "SEC") on May 19, 2026. Subject to those terms and conditions, Select Medical expects that the closing of the Merger will occur mid-2026.

Approximately 82.54% of Select Medical's outstanding shares were voted at the Special Meeting, and the Merger was approved by over 79.88% of Select Medical's outstanding shares and over 76.64% of the outstanding shares held by stockholders unaffiliated with the Consortium. Select Medical will file the final voting results in a Current Report on Form 8-K with the SEC.

Advisors

J.P. Morgan and Wells Fargo are serving as joint lead arrangers and joint lead bookrunners in connection with the committed debt financing of the Consortium. Goldman Sachs is serving as the exclusive financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to the Special Committee of disinterested and independent directors of the Board of Directors of the Company. Dechert LLP is serving as legal counsel to Select Medical. Wells Fargo and J.P. Morgan are serving as financial advisors, and Cravath, Swaine & Moore LLP is serving as legal counsel to the Consortium. Barclays is serving as financial advisor, and Ropes & Gray LLP is serving as legal counsel to WCAS. Paul Hastings LLP is serving as legal counsel to the debt financing sources.

About Select Medical

Select Medical is one of the largest operators of critical illness recovery hospitals, rehabilitation hospitals, and outpatient rehabilitation clinics in the United States based on number of facilities. Select Medical's reportable segments include the critical illness recovery hospital segment, the rehabilitation hospital segment, and the outpatient rehabilitation segment. As of March 31, 2026, Select Medical operated 103 critical illness recovery hospitals in 28 states, 41 rehabilitation hospitals in 15 states, and 1,912 outpatient rehabilitation clinics in 37 states and the District of Columbia. At March 31, 2026, Select Medical had operations in 38 states and the District of Columbia. Information about Select Medical is available at www.selectmedical.com.

About WCAS

WCAS is a leading U.S. private equity firm focused on two target industries: technology and healthcare. Since its founding in 1979, the firm's strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives, and strategic acquisitions. The firm has raised and managed funds totaling over $33 billion of committed capital. For more information, please visit www.wcas.com.

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking statements. Forward-looking statements use words such as "expect," "anticipate," "outlook," "intend," "plan," "confident," "believe," "will," "should," "would," "potential," "positioning," "proposed," "planned," "objective," "likely," "could," "may," and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. Statements that describe or relate to Select Medical's plans, goals, intentions, strategies, financial outlook, are examples of forward-looking statements. Forward-looking statements are based on our current beliefs, expectations and assumptions, which may not prove to be accurate, and involve a number of known and unknown risks and uncertainties, many of which are out of Select Medical's control. Forward-looking statements are not guarantees of future performance and you should not place undue reliance on Select Medical's forward-looking statements. Forward-looking statements involve significant known and unknown risks and uncertainties that may cause Select Medical's actual results in future periods to differ materially from those projected or contemplated in the forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. There is no assurance that the proposed Merger will be consummated, and there are a number of risks and uncertainties that could cause actual outcomes and results to differ materially from the results contemplated by such forward-looking statements, including, without limitation: (1) the inability to consummate the proposed Merger within the anticipated time period, or at all, due to any reason, including the failure to obtain any required regulatory approvals for the proposed Merger or the failure to satisfy the other conditions to the consummation of the proposed Merger; (2) the risk that the proposed Merger disrupts Select Medical's current plans and operations or diverts management's attention from its ongoing business; (3) the effect of the announcement of the proposed Merger and results of the Special Meeting on the ability of Select Medical to retain and hire key personnel and maintain relationships with those with whom it does business; (4) the effect of the announcement or pendency of the proposed Merger on Select Medical's operating results and business generally; (5) the significant costs, fees and expenses related to the proposed Merger; (6) the risk that Select Medical's stock price may decline significantly if the proposed Merger is not consummated; (7) the nature, cost and outcome of any litigation and other legal proceedings, including any such proceedings related to the proposed Merger and instituted against Select Medical and/or their respective directors, executive officers or other related persons; (8) other risks that could affect Select Medical's business, financial condition or results of operations, including those set forth in the Company's most recent Annual Report on Form 10-K and any subsequent filings; and (9) other risks to the consummation of the proposed Merger. Additional information concerning these and other factors can be found in Select Medical's filings with the SEC, including Select Medical's most recent annual report on Form 10-K. Select Medical does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media inquiries:
Shelly Eckenroth
Senior Vice President, Chief Communications Marketing & Branding Officer
717-920-4035
[email protected]

Investor inquiries:
Robert S. Kido
Senior Vice President and Treasurer
717-972-1100
[email protected]

SOURCE Select Medical Holdings Corporation

People walk behind a logo of Meta Platforms company, during a conference in Mumbai, India, September 20, 2023. REUTERS/Francis Mascarenhas Purchase Licensing Rights, opens new tab

June 26 (Reuters) - Meta (META.O), opens new tab CEO Mark Zuckerberg has urged his lieutenants to explore partnerships with the popular prediction markets Polymarket and Kalshi ​as his company builds a similar app, the New ‌York Times said on Friday, citing three employees with knowledge of the matter.

Meta and Kalshi did not immediately respond to requests for comment, ​while Polymarket declined to comment when contacted by Reuters. ​Reuters could not independently verify the report.

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The social ⁠media company's executives have said Arena, Meta's new prediction market ​app under development, will differ from Polymarket and Kalshi, which accept ​real-money wagers, because it will instead rely on video-game-like "points", the report said.

Prediction markets surged in popularity during the 2024 U.S. presidential election and have ​evolved into an asset class that lets investors wager ​on a variety of events, from monetary policy to sports tournaments.

But they have ‌also ⁠drawn increasing scrutiny as well-timed trades ahead of U.S. President Donald Trump's major policy surprises have potentially led to millions of dollars in profits for unknown traders.

Zuckerberg's target demographic for ​Arena is 18- ​to 34-year-olds and ⁠Meta is aiming to reach at least 100 million monthly active "predictors" for the app, according ​to the report.

Arena is being tested internally and ​may ⁠not be released, the report said, adding that Meta plans to eventually integrate parts of Arena into Facebook and Messenger.

The Times first ⁠reported ​on Tuesday that Zuckerberg recently dispatched a ​small team at his company to create a smartphone app similar to Polymarket ​and Kalshi.

Reporting by Jaspreet Singh in Bengaluru; Editing by Vijay Kishore

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

Shares of UnitedHealth Group (UNH +2.87%) are up 25% this year and are still trading near its 52-week high. The healthcare giant's stock offers a good combination of revenue growth, a solid dividend, and strong insulation against economic downturns.

The company has bounced back significantly after it had a bad earnings miss and suspended guidance in April 2025, a move that was followed by the resignation of then-CEO Andrew Witty.

Here are reasons why the stock remains a good buy.

Image source: Getty Images.

It's a great dividend stock UnitedHealth Group just raised its dividend by 5% to $2.32 per quarterly share, marking 17 consecutive years of raises, and at the stock's current price, it yields around 2.3%.

The dividend increase shows the company is confident in its ability to handle rising medical costs and other changes. The company produced $19.7 billion in operating cash flow in 2025, equal to 1.5x net income. Cash from operations has consistently exceeded net income.

The stock is a solid choice for total-return and income-focused investors. The company generates massive, highly reliable free cash flow that supports aggressive share buybacks, as it expects to repurchase $2 billion in shares by the end of the second quarter and to maintain a consistently growing dividend.

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Two segments balance the business Unlike pure-play health insurers, UnitedHealth Group operates a highly resilient, diversified model split into two powerhouse segments. One is UnitedHealthcare, its huge insurance arm that served 49.1 million people in the first quarter, including individuals, employers, and government programs.

The other is Optum, its health services business that provides pharmacy benefits, data analytics, and direct patient care to more than 123 million people.

In the first quarter, the UnitedHealthcare side was driving its business. The company reported overall revenue of $111.7 billion, up 2% year over year, with UnitedHealthcare reporting $86.3 billion, up 2% from the first quarter of 2025. Earnings per share (EPS) were $6.90, up less than 1% compared to the same period a year ago, and earnings from UnitedHealthcare again were the catalyst, with earnings from operations of $5.7 billion, up 9%, year over year.

It is still selling at an attractive valuation Though UnitedHealth Group's shares have risen more than 25% this year, its shares are still trading at around 31 times earnings and around 22 times future earnings.

The advantage of healthcare stocks is that people need medical care regardless of the state of the economy. Concerns about rising costs combined with no reimbursement raises on the way for 2027 have compressed the company's valuations into reasonable territory compared to its historical averages and put it in a good position compared to its nearest competitors.

It has strong pricing power that reacts to change UnitedHealth Group's medical cost ratio was 83.9% for the first quarter, down 90 basis points from the same period a year ago. That's the good news. The bad news is that medical cost ratios have been increasing for insurers over the past several years, due to changes under the Affordable Care Act, the rising number of older adults seeking medical care, the rising costs of diabetes and weight-loss medications, and medical advancements tied to high-cost medical devices.

UnitedHealth has a clear playbook for managing the recent industrywide spike in medical utilization. Because commercial plans renew continuously throughout the year, management has already begun implementing a strongly responsive pricing strategy. In its Medicare Advantage plans, the company is adjusting premium pricing, streamlining provider networks, and utilizing advanced tools to filter unnecessary clinical costs. That's a key point because UnitedHealth is the largest Medicare Advantage provider, serving more than 8 million people. In April, CMS finalized a 2.48% payment increase for 2027 Medicare Advantage plans, which was more than what was initially proposed, but doesn't solve long-term price concerns, industry executives said.

The company is using AI to trim administrative costs UnitedHealth Group has launched a massive $1.5 billion enterprise-wide artificial intelligence (AI) initiative. By transitioning traditional, fractured processes to AI-first operations, management expects a 2-to-1 return on investment, translating into nearly $1 billion in direct operating-cost reductions.

The company is deploying artificial intelligence across three core operational fronts to aggressively defend and expand its operating margins. It is using generative AI to handle the first point of contact, reducing the need for expensive call center networks.

Launched in March, its digital companion Avery is a generative AI assistant handling inquiries for employers and Medicare Advantage members. It is set up to resolve complex questions about coverage limits, claim status, and copay estimates instantly. By migrating member navigation to self-service AI, UnitedHealth has already reduced call center volume by 25% as of the first quarter, eliminating significant structural overhead.

It is also using AI to simplify and speed up prescription approval times from eight hours to under 30 seconds and considerably drop processing costs. The company sees its AI engine as not only saving money but also, when outsourced, adding revenue.

About a third of UNH's $1.5 billion AI spend is dedicated to transforming OptumInsight into an AI-first software firm. The data analytics, payment integrity, and fraud-detection models trained internally on UNH's massive data pool are being packaged and sold directly to other hospital networks and insurers, turning an internal cost-saver into a high-margin revenue stream.

SKYRIZI (risankizumab-rzaa) is now approved for patients six years of age and older with moderate-to-severe plaque psoriasis or active psoriatic arthritis Approval includes a new 55 mg pre-filled syringe to support weight-based dosing for those patients weighing less than 40 kg SKYRIZI becomes the first and only IL-23 inhibitor approved in the U.S. for pediatric patients six years of age and older weighing less than 40 kg with plaque psoriasis or psoriatic arthritis , /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced the U.S. Food and Drug Administration (FDA) has approved SKYRIZI® (risankizumab-rzaa) for the treatment of children six years of age and older with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy, or active psoriatic arthritis. A new 55 mg pre-filled syringe (PFS) has also been approved to support weight-based dosing for patients weighing less than 40 kg, while the currently available 150 mg PFS and Pen are approved for patients weighing 40 kg or greater.

"Plaque psoriasis and psoriatic arthritis can affect much more than skin and joints – these conditions can shape daily life and disrupt important childhood experiences," said Roopal Thakkar, M.D., executive vice president, research and development, chief scientific officer, AbbVie. "We are proud that SKYRIZI is now the first and only IL-23 inhibitor approved in the U.S. for pediatric patients six years of age and older weighing less than 40 kg with plaque psoriasis or psoriatic arthritis. For families navigating these chronic conditions, expanding access to treatments with proven efficacy supports improved disease management and extends established standards of care to younger patients."

Approximately 30% of people who develop psoriasis experience symptoms before age eighteen.1 Each year, approximately 20,000 children under ten years old are diagnosed with psoriasis in the U.S., and an estimated 14,000 children are impacted by psoriatic arthritis.1,2,3 Psoriasis and psoriatic arthritis symptoms in children can interfere with mobility and daily activities, with additional burden on caregivers.4,5

"For children impacted by immune-mediated diseases, childhood can become shaped by doctor appointments, uncertainty and the emotional weight of living with a chronic disease," said Leah M. Howard, J.D., president and chief executive officer, National Psoriasis Foundation. "Having an approved treatment for both skin and joint disease available for our younger patients gives families another much-needed option and offers a measure of hope as they navigate the challenges of these diseases."

Data Supporting SKYRIZI Pediatric Approvals
The pediatric psoriasis approval is supported by data from the Phase 3 OptIMMize psoriasis clinical trial program (NCT04435600; NCT04862286), including data from two lead-in pharmacokinetic cohorts, a randomized efficacy assessor-blinded active controlled cohort (12 to <18 years) and a single arm open label cohort (6 to <12 years). The pediatric psoriatic arthritis approval is supported by the OptIMMize psoriasis clinical trial program as well as population pharmacokinetic modeling and simulation based on well-controlled adult psoriatic arthritis studies.

The safety profile observed in pediatric plaque psoriasis patients treated with SKYRIZI was consistent with the established safety profile of SKYRIZI in adult patients with plaque psoriasis.

"At Week 16 in part 2 of the OptIMMize psoriasis clinical trial program, risankizumab demonstrated clinically meaningful improvements in sPGA and PASI responses, with responses maintained long-term with continued treatment," said Amy S. Paller, M.D., chair of dermatology and professor of pediatrics at Northwestern University Feinberg School of Medicine and study investigator in the OptIMMize program. "These clinical responses, combined with weight-based dosing for younger patients, may help physicians better support a broad range of children living with plaque psoriasis or psoriatic arthritis."

Patient Access and Support
AbbVie is committed to helping people access SKYRIZI and other medicines, including offering a patient support program and co-pay card that may reduce out-of-pocket costs to as little as $0 per month for eligible, commercially insured patients. For those with limited or no health insurance, AbbVie offers myAbbVie Assist, a patient assistance program that provides SKYRIZI at no charge to those who qualify. More information about this assistance program can be found at www.AbbVie.com/myAbbVieAssist.

About SKYRIZI® (risankizumab-rzaa)
SKYRIZI is an interleukin-23 (IL-23) inhibitor that blocks IL-23 by selectively binding to its p19 subunit. IL-23, a cytokine involved in inflammatory processes, is thought to be linked to a number of chronic immune-mediated diseases. SKYRIZI is approved by the U.S. Food and Drug Administration and the European Medicines Agency for the treatment of plaque psoriasis, psoriatic arthritis, Crohn's disease and ulcerative colitis.

SKYRIZI® (risankizumab-rzaa) U.S. Uses and Important Safety Information
SKYRIZI is a prescription medicine used to treat:

moderate to severe plaque psoriasis in adults and children 6 years of age and older who may benefit from taking injections or pills (systemic therapy) or treatment using ultraviolet or UV light (phototherapy). active psoriatic arthritis in adults and children 6 years of age and older. moderate to severe Crohn's disease in adults. moderate to severe ulcerative colitis in adults. IMPORTANT SAFETY INFORMATION
What is the most important information I should know about SKYRIZI® (risankizumab-rzaa)?
SKYRIZI is a prescription medicine that may cause serious side effects, including:
Serious allergic reactions:

Stop using SKYRIZI and get emergency medical help right away if you get any of the following symptoms of a serious allergic reaction: fainting, dizziness, feeling lightheaded
(low blood pressure) swelling of your face, eyelids, lips,
mouth, tongue, or throat trouble breathing or throat tightness chest tightness skin rash, hives itching Infections:
SKYRIZI may lower the ability of your immune system to fight infections and may increase your risk of infections. Your healthcare provider should check you for infections and tuberculosis (TB) before starting treatment with SKYRIZI and may treat you for TB before you begin treatment with SKYRIZI if you have a history of TB or have active TB. Your healthcare provider should watch you closely for signs and symptoms of TB during and after treatment with SKYRIZI.

Tell your healthcare provider right away if you have an infection or have symptoms of an infection, including: fever, sweats, or chills cough shortness of breath blood in your mucus
(phlegm) muscle aches warm, red, or painful skin
or sores on your body
different from your
psoriasis weight loss diarrhea or stomach pain burning when you urinate
or urinating more often
than normal Do not use SKYRIZI if you are allergic to risankizumab-rzaa or any of the ingredients in SKYRIZI. See the Medication Guide or Consumer Brief Summary for a complete list of ingredients.

Before using SKYRIZI, tell your healthcare provider about all of your medical conditions, including if you:

have any of the conditions or symptoms listed in the section "What is the most important information I should know about SKYRIZI?" have an infection that does not go away or that keeps coming back. have TB or have been in close contact with someone with TB. have recently received or are scheduled to receive an immunization (vaccine). Medications that interact with the immune system may increase your risk of getting an infection after receiving live vaccines. You should avoid receiving live vaccines right before, during, or right after treatment with SKYRIZI. Tell your healthcare provider that you are taking SKYRIZI before receiving a vaccine. are pregnant or plan to become pregnant. It is not known if SKYRIZI can harm your unborn baby. are breastfeeding or plan to breastfeed. It is not known if SKYRIZI passes into your breast milk. become pregnant while taking SKYRIZI. You are encouraged to enroll in the Pregnancy Registry, which is used to collect information about the health of you and your baby. Talk to your healthcare provider or call 1-877-302-2161 to enroll in this registry. Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements.

What are the possible side effects of SKYRIZI?
SKYRIZI may cause serious side effects. See "What is the most important information I should know about SKYRIZI?"

Liver problems may happen while being treated for Crohn's disease or ulcerative colitis: A person with Crohn's disease who received SKYRIZI through a vein in the arm developed changes in liver blood tests with a rash that led to hospitalization. Your healthcare provider will do blood tests to check your liver before, during, and at least up to 12 weeks of treatment, and may stop treatment with SKYRIZI if you develop liver problems. Tell your healthcare provider right away if you notice any of the following symptoms: unexplained rash, nausea, vomiting, stomach (abdominal) pain, tiredness (fatigue), loss of appetite, yellowing of the skin and eyes (jaundice), and dark urine.

The most common side effects of SKYRIZI in people treated for Crohn's disease and ulcerative colitis include: upper respiratory infections, headache, joint pain, stomach (abdominal) pain, injection site reactions, low red blood cells (anemia), fever, back pain, urinary tract infection, and rash.

The most common side effects of SKYRIZI in people treated for plaque psoriasis and psoriatic arthritis include: upper respiratory infections, headache, feeling tired, injection site reactions, and fungal skin infections.

These are not all the possible side effects of SKYRIZI. Call your doctor for medical advice about side effects.

Use SKYRIZI exactly as your healthcare provider tells you to use it.

SKYRIZI (risankizumab-rzaa) is available in a 150 mg/mL prefilled syringe and pen, a 55 mg/0.37 mL prefilled syringe, a 600 mg/10 mL vial for intravenous infusion, and a 180 mg/1.2 mL or 360 mg/2.4 mL single-dose prefilled cartridge with on-body injector.

This is the most important information to know about SKYRIZI. For more information, talk to your HCP.

You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch or call 1-800-FDA-1088.

If you are having difficulty paying for your medicine, AbbVie may be able to help. Visit AbbVie.com/PatientAccessSupport to learn more. 

Please click here for the Full Prescribing Information and Medication Guide.

About AbbVie in Immunology
AbbVie is relentless in our pursuit to redefine the standard of care for patients living with immune-mediated conditions, with the goal of helping them live a life free from the limitations of their disease. For more than 20 years, AbbVie has led and helped shape the field of immunology through groundbreaking science and trusted medicines. Building on deep expertise across gastroenterology, rheumatology and dermatology, and other areas of high unmet need, we continue to invest in a broad and differentiated pipeline – spanning innovative modalities, novel mechanisms of actions and next-generation approaches designed to conquer the complex biology underlying immune-mediated disease.

Today, more than 1 million patients worldwide are treated with AbbVie's immunology medicines, approved in more than 175 countries across 19 immune-mediated diseases that impact adult and pediatric populations. As we work to strengthen our legacy and drive the next wave of innovation, we remain focused on delivering meaningful progress for patients and expanding access to our medicines. For more information, please visit www.abbvie.com/immunology.

About AbbVie
AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas including immunology, neuroscience and oncology – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X and YouTube.

Forward-Looking Statements
Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to our industry, the impact of global macroeconomic factors, such as economic downturns or uncertainty, international conflict, trade disputes and tariffs, and other uncertainties and risks associated with global business operations. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2025 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its Quarterly Reports on Form 10-Q and in other documents that AbbVie subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law. 

References

Menter A et al. (2020). Joint American Academy of Dermatology-National Psoriasis Foundation guidelines of care for the management and treatment of psoriasis in pediatric patients. Journal of the American Academy of Dermatology, 82(1), 161–201. https://doi.org/10.1016/j.jaad.2019.08.049 Brunello, Francesco et al. (2022). New Insights on Juvenile Psoriatic Arthritis. Frontiers in Pediatrics, 10, 884727. https://doi.org/10.3389/fped.2022.884727 Morgan, E. M., et al. (2019). Establishing an Updated Core Domain Set for Studies in Juvenile Idiopathic Arthritis: A Report from the OMERACT 2018 JIA Workshop. The Journal of Rheumatology, 46(8), 1006–1013. https://doi.org/10.3899/jrheum.181088   Salman, A., et al. (2018). Impact of psoriasis in the quality of life of children, adolescents and their families: a cross-sectional study. Anais Brasileiros de Dermatologia, 93(6), 819–823. https://doi.org/10.1590/abd1806-4841.20186981 National Psoriasis Foundation. For Parents: Emotional Impact. Available at: https://www.psoriasis.org/our-spot-emotional-impact/. Accessed June 2026. SOURCE AbbVie

On June 22, Rocket Lab (RKLB +4.67%) launched its Victus Haze mission just 16 hours and 42 minutes after receiving the U.S. Space Force's Notice to Launch. That beat its previous record by over ten hours and marked its fastest turnaround ever.

Once in orbit, it fully activated the spacecraft in 37 hours and 36 minutes, easily beating the Space Force's 72-hour deadline. SpaceX (SPCX +0.13%), which handled the other half of the Victus Haze mission, doesn't execute any short-notice "scramble" missions like Rocket Lab.

Image source: Getty Images.

The Victus Haze mission is an orbital game of "cat and mouse" to test how quickly the U.S. military responds to spaceborne threats. In May, SpaceX launched True Anomaly's Jackal satellite -- the "mouse" -- into orbit with its Falcon 9 rocket. Rocket Lab waited on standby until the Space Force ordered it to launch its own Pioneer satellite -- the "cat" -- with its Electron rocket. That mission's success suggests Rocket Lab's future is bright, but does it make its stock worth buying after its near-40% pullback over the past month?

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What does Rocket Lab do? Rocket Lab's Electron rocket carries much smaller payloads than SpaceX's Falcon rockets. It has launched the Electron 88 times to deploy over 260 small satellites, and its customers include NASA, the U.S. Space Force's Space Development Agency (SDA), the Swedish National Space Agency, Capella Space, Kinéis, and BlackSky Technology.

Rocket Lab successfully launched 21 Electron rockets in 2025 and aims to launch around 30 in 2026. It's also trying to launch its first Neutron rocket, which can carry much heavier payloads than the Electron, by the end of this year.

Over the next few years, Rocket Lab plans to expand into an "end-to-end" space company by producing more spacecraft, satellites, and subsystems, launching more "ride-share" services for third-party payloads, and improving its Photon satellite bus platform.

From 2025 to 2028, analysts expect Rocket Lab's revenue to grow at a 39.5% CAGR. They also expect it to turn profitable in the final year.

Why did Rocket Lab's stock decline? Rocket Lab, like many other space stocks, rallied in the month leading up to SpaceX's IPO. But after the IPO, many of those investors took profits and rotated to SpaceX instead. Some investors believe SpaceX's Starship, its largest rocket ever, could significantly reduce launch prices and hurt smaller rocket makers like Rocket Lab. Inflation and fears of interest rate hikes are also driving investors away from smaller, speculative stocks.

Even after its pullback, Rocket Lab trades at 51 times this year's sales, 36 times its 2027 sales, and 29 times its 2028 sales. It's a little cheaper than SpaceX, which trades at 55 times this year's sales, but it might be too hot to handle right now. Investors can nibble on Rocket Lab at these levels, but they shouldn't be surprised if it gets cut in half in the next market crash.

, /PRNewswire/ -- The AES Corporation (the "Company" or "AES") (NYSE: AES) today announced that its stockholders voted to approve the Company's previously announced acquisition by Global Infrastructure Partners ("GIP"), a part of BlackRock, and the EQT Infrastructure VI fund ("EQT"), along with co-underwriters California Public Employees' Retirement System ("CalPERS") and Qatar Investment Authority ("QIA") (collectively "the Consortium"), at the Company's Meeting of Stockholders held earlier today.

As previously announced, under the terms of the merger agreement the Consortium will acquire all outstanding common shares of AES for $15.00 per share in cash, representing a total equity value of approximately $10.7 billion and an enterprise value of approximately $33.4 billion, including the assumption of existing debt1.

"We are grateful for the strong support from our stockholders," said Holly Koeppel, Lead Independent Director of AES' Board of Directors. "Today's vote reinforces our conviction that this transaction meaningfully enhances value while positioning AES for its next phase of growth. With the deep sector expertise of the Consortium, AES will have greater flexibility to invest in the critical energy solutions our customers and communities depend on. We look forward to working with the Consortium to complete the transaction, advance our shared mission, and create long-term value for all stakeholders."

"Our team has built a differentiated platform spanning regulated utilities, clean energy solutions and critical energy infrastructure, creating a strong foundation for sustained growth," said Andrés Gluski, Chairman and Chief Executive Officer of AES. "With today's approval by stockholders, we are focused on executing the remaining steps towards completing the transaction and partnering with the Consortium to expand our capacity to deliver reliable, affordable and sustainable energy."

Based on the preliminary vote count from today's special meeting of stockholders, approximately 97.92% of AES stockholders votes were cast in favor of the proposed transaction, representing approximately 67.17% of all outstanding shares. The final voting results will be reported in a Form 8-K filed with the U.S. Securities and Exchange Commission.

The transaction is expected to close in late 2026 or early 2027, and remains subject to the receipt of applicable federal, state and foreign regulatory approvals and the satisfaction of other customary closing conditions.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.

About Global Infrastructure Partners (GIP), a Part of BlackRock

Global Infrastructure Partners (GIP), a part of BlackRock, is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors.

GIP's scaled platform has over $206 billion in assets under management. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our clients' capital and create positive economic impact for communities.

About EQT

EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2026, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

About CalPERS

CalPERS is the largest defined benefit public pension fund in the U.S., with a net position of $597.7 billion in its Public Employees' Retirement Fund as of March 31, 2026. The portfolio invests in stocks, bonds, real estate, infrastructure, private equity, inflation-linked assets and other public and private investment vehicles, with a goal to generate total returns on a long-term basis while managing risk. Headquartered in Sacramento, California, CalPERS serves nearly 2.4 million members, providing retirement benefits to state, school, and public employees, along with health benefit services to 1.5 million members.

About QIA

QIA is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results but instead constitute AES' current expectations based on reasonable assumptions.  Estimates and projections regarding, among other things, the expected date of closing of the transaction and the potential benefits thereof, its business and industry, management's beliefs and certain assumptions made by AES, all of which are subject to change.  Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels, and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2025 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.

Any Stockholder who desires a copy of the Company's 2025 Annual Report on Form 10-K filed March 2, 2026 with the SEC may obtain a copy (excluding the exhibits thereto) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Annual Report on Form 10-K may be obtained by visiting the Company's website at www.aes.com.

Contacts

AES Investor Contact:
Max Trask 571-217-3249, [email protected]

AES Media Contact:
Amy Ackerman 703-682-6399, [email protected]

GIP Contact:
Mustafa Riffat, 917-747-4156, [email protected]

EQT Contact:
Mathilde Milch, 917-510-6626, [email protected]

Press Release
Investor Contact: Max Trask 571-217-3249, [email protected]
Media Contact: Amy Ackerman 703-682-6399, [email protected]

1Enterprise value based on proportional net debt of $22,724 million and a share count of 712 million, as of December 31, 2025. Consolidated net debt was $27,561 million as of December 31, 2025.

SOURCE The AES Corporation

Key Takeaways RL is executing its Next Great Chapter strategy to drive brand elevation and global expansion.Ralph Lauren is investing in personalization, digital capabilities and omnichannel experiences.RL reported 17% global DTC comps growth in Q4 fiscal 2026, with digital sales gains across regions. Ralph Lauren Corporation (RL - Free Report) continues to strengthen its long-term growth profile through disciplined execution of its Next Great Chapter strategy. The company is advancing its digital transformation through personalization, data-driven insights and seamless omnichannel experiences. RL leverages advanced data analytics to tailor product recommendations, optimize pricing and refine marketing strategies across regions.

Ralph Lauren’s Next Great Chapter initiative serves as the foundation of its growth strategy, emphasizing brand elevation, consumer centricity and operational agility. This strategy is designed to create a more balanced global footprint by expanding into high-growth markets, such as Asia, while strengthening its presence in core regions.  The company continues to execute its “Next Great Chapter: Drive Plan,” which focuses on elevating and energizing the lifestyle brand, driving the core and expanding into higher-potential categories, and winning in key cities with its consumer ecosystem.

Digital sales now represent a growing share of total revenues, supported by continuous investments in personalization, enhanced mobile capabilities and integrated loyalty programs designed to connect with younger and more diverse consumers. Ralph Lauren is optimizing distribution, strengthening wholesale partnerships and enhancing its retail network to reinforce its premium positioning. The company has been experiencing significant growth in its digital channels across key regions. Continuous investments in personalization, mobile capabilities and loyalty integration have strengthened digital sales, enabling it to make deeper engagements with younger and more diverse consumer segments.

In fourth-quarter fiscal 2026, global direct-to-consumer comparable store sales (comps) increased 17%, with positive retail comps across regions and channels. Digital commerce improved 21% in North America, 14% in Europe and 31% in Asia. For fiscal 2027, the company expects constant currency revenues to increase approximately mid-single digits on a 52-week comparable basis, centered around 4-5%, and noted the 53rd week should add about one point to revenue growth and benefit operating margin.

RL’s Price Performance, Valuation and EstimatesRalph Lauren’s shares have gained 14.9% in the past six months against the industry’s 8.1% decline.

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From a valuation standpoint, RL is trading at a forward price-to-earnings ratio of 21.83X compared with the industry’s average of 14.92X.

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The Zacks Consensus Estimate for RL’s fiscal 2027 and fiscal 2028 earnings per share (EPS) indicates year-over-year growth of 10.5% each. The company’s EPS estimate for fiscal 2027 and fiscal 2028 has moved north in the past 30 days.

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Ralph Lauren currently carries a Zacks Rank #2 (Buy).

Other Key Picks in the Consumer Discretionary SpaceColumbia Sportswear Company (COLM - Free Report) , which engages in the sourcing, marketing and distribution of outdoor and active lifestyle apparel, footwear, accessories and equipment, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

COLM delivered a trailing four-quarter earnings surprise of 44.1%, on average. The Zacks Consensus Estimate for Columbia Sportswear’s current financial-year sales indicates growth of 2.6% from the year-ago number.

Crocs, Inc. (CROX - Free Report) , which is a leading footwear company, currently carries a Zacks Rank of 2. CROX delivered a trailing four-quarter earnings surprise of 13.6%, on average.

The Zacks Consensus Estimate for Crocs’ current financial-year EPS indicates a rise of 9.3% from the year-ago number.

Gildan Activewear Inc. (GIL - Free Report) , which is a designer and marketer of premium quality branded basic activewear, currently has a Zacks Rank of 2.

GIL delivered a negative trailing four-quarter earnings surprise of 1.1%, on average. The Zacks Consensus Estimate for Gildan Activewear’s current financial-year sales indicates growth of 68.3% from the year-ago number.

Key Takeaways Healthpeak Properties is expanding labs, outpatient and life plan assets in high-barrier markets.DOC posted stronger lab and outpatient leasing, with higher occupancy and solid re-leasing spreads.Healthpeak Properties boosted liquidity with Janus IPO proceeds and added a $400M term loan. Shares of Healthpeak Properties (DOC - Free Report) have gained 28% in the past three months, outperforming the industry's upside of 12.4%.

This healthcare real estate company, carrying a Zacks Rank #3 (Hold), is strategically positioning itself toward lab, outpatient medical and life plan assets in high-barrier markets, driven by strong leasing momentum, rising occupancy and growth in its senior housing platform, Janus Living. Management is using dispositions and structured transactions to fund focused growth while enhancing liquidity and maintaining investment flexibility across cycles.

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Factors Behind DOC Stock Price Surge: Will the Trend Last?Healthpeak’s continued focus on the lab segment aligns well with long-term demand, since ongoing investment in drug discovery and development supports the need for high-quality lab real estate across its core clusters of San Diego, San Francisco, and Boston. During the first quarter of 2026, Healthpeak executed 141,000 square feet of lab leases, with 92% tied to new leasing, and had roughly 355,000 square feet under Letter of Intent. At the end of the first quarter of 2026, total lab occupancy was 77.7%, up from 77% at year-end 2025. Management expects year-end 2026 lab occupancy to be higher than the 2025 level.

The outpatient medical segment maintains solid fundamentals that generate consistent, recurring cash flow. In the first quarter of 2026, Healthpeak executed nearly 1.1 million square feet of outpatient leases, achieved 5.4% cash re-leasing spreads on renewals and ended the quarter at 91% total occupancy, with 79% tenant retention. Subsequent to quarter-end and through early May 2026, the company executed additional outpatient leasing activity and reported a larger pipeline under letter of intent (LOI), which should help sustain occupancy and rent growth over time.

Healthpeak’s exposure to life plan communities remains tied to demand for senior housing services, and the Janus Living structure adds a clearer vehicle for growth. In the first quarter of 2026, senior housing same-store cash (adjusted) net operating income (NOI) grew 13.8% year over year, reflecting stronger operating performance in the life plan portfolio. Janus Living reported year-over-year revenue growth of 35% and adjusted EBITDA expansion of 42% for the quarter.

Healthpeak is repositioning its portfolio toward labs, outpatient medical facilities, and life-plan properties in high–barrier-to-entry markets, funding this growth through asset sales and structured financing transactions. In the first quarter of 2026, the company generated $267 million of proceeds from recapitalizations, dispositions and loan repayments. These actions support a longer-term approach to driving per-share earnings growth while keeping investment activity flexible across cycles.

Healthpeak moved to strengthen near-term liquidity. At the end of the first quarter of 2026, its net debt-to-EBITDA was 5.4X. Cash and cash equivalents climbed to $1.17 billion from $467.5 million in the prior quarter, driven largely by proceeds from the Janus Living IPO. As of May 4, 2026, the company’s long-term credit ratings were Baa1 (Moody’s) and BBB+ (S&P Global). It also increased financial flexibility with a new $400 million unsecured delayed-draw term loan.

Key Risks for DOCCompetition from other industry players in the healthcare services sector is a key concern for Healthpeak. Risks associated with rising construction costs and substantial debt burden add to its woes.

Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Cousins Properties (CUZ - Free Report) and Prologis (PLD - 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 CUZ’s 2026 FFO per share is pegged at $2.94, which indicates year-over-year growth of 3.52%.

The Zacks Consensus Estimate for PLD’s full-year FFO per share is pinned at $6.18, which calls for an increase of 6.37% from the year-ago period’s level.

Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.

PepsiCo Inc (NASDAQ:PEP, XETRA:PEP) earnings outlook was trimmed by Bank of America analysts ahead of the company’s second quarter results, with softer-than-expected performance in its North American snacks business offsetting steadier international trends.

The analysts lowered their fiscal 2026 earnings per share (EPS) estimate to $8.61 from $8.65 and slightly reduced their second quarter forecast to $2.18 from $2.19. The revision reflects weaker performance at PepsiCo Foods North America (PFNA) and expectations that its recovery will take longer to materialize in the second half of the year.

For the quarter, Bank of America now expects consolidated organic sales growth of 2.9%, down from a prior estimate of 3.1%. The full-year organic sales growth outlook was also cut to 3.0% from 3.4%.

Despite the downward revisions, the analysts noted continued strength in international markets, which are now expected to deliver 5.4% organic sales growth in the second quarter, up from a prior forecast of 4.9%. They suggested PepsiCo could still reiterate its full-year guidance when it reports results on July 9, though the underlying mix of performance may be less favorable.

The primary pressure point remains PFNA, where scanner data indicated a sequential deterioration in trends during the quarter. NielsenIQ data showed retail sales growth slowing to a 1.0% decline in the second quarter from 0.6% growth in the first. Bank of America attributed the weakness to macroeconomic pressures, inflation, and unfavorable weather conditions around Memorial Day.

As a result, the analysts now expect flat organic sales growth for PFNA in the second quarter, compared with a previous estimate of 1.5%, and have reduced their full-year forecast to 0.2% from 1.4%. They also pointed to softer sequential performance across major brands including Lay’s, Doritos, Tostitos, Cheetos, and Ruffles.

In contrast, PepsiCo’s beverages division showed modest improvement. Retail sales in North America rose 0.3% year over year in the second quarter, while volumes fell 3.5%, an improvement from the prior quarter. However, analysts noted ongoing challenges for core brands, with Pepsi continuing to lose market share and Mountain Dew underperforming its category.

Bank of America also lowered its price objective on PepsiCo to $164 from $173, based on 18 times estimated 2027 earnings, down from a prior multiple of 19 times. Shares traded hands at about $142 on Friday afternoon.

The firm maintained its ‘Neutral’ rating on the stock.

Key Takeaways Parker-Hannifin's Aerospace Systems organic revenues rose 14.2% in fiscal Q3 2026.PH expects aerospace sales growth from air transport demand and strong defense spending.Parker-Hannifin agreed to acquire CIRCOR's aerospace business for $2.55 billion. Parker-Hannifin Corporation (PH - Free Report) is witnessing persistent strength in its Aerospace Systems segment. The segment is benefiting from strength across its commercial and defense end markets across both Original Equipment Manufacturer (OEM) and aftermarket channels. Segmental organic revenues jumped approximately 14.2% year over year in the third quarter of fiscal 2026 (ended March 2026).

The Aerospace Systems segment is expected to capitalize on the strong demand for its products and aftermarket support services in the general aviation market, driven by growth in air transport activities. Strength in its defense end market, owing to robust U.S. and international defense spending volumes, is also likely to be beneficial. Parker-Hannifin expects the Aerospace Systems segment’s organic sales to increase 12% from the year-ago level in fiscal 2026 (ending June 2026).

In May 2026, the company also entered into a deal with CIRCOR International to acquire the latter’s Commercial and Defense Aerospace business for $2.55 billion. The transaction, anticipated to close in the second half of this year, will add complementary technologies and capabilities, thereby further strengthening its position across aerospace and defense markets.

Driven by strength in its businesses, Parker-Hannifin has issued bullish fiscal 2026 guidance. The company currently expects total sales to increase 7% year over year, while organic sales are projected to grow 5.5%.

Segment Snapshot of PH’s PeersAmong its major peers, Howmet Aerospace Inc.’s (HWM - Free Report) defense aerospace market is playing an important role in driving its overall growth. In the first quarter of 2026, Howmet’s revenues from the defense aerospace market jumped 10% year over year, which accounted for 16% of its total sales. The surge in revenues was fueled by robust demand for Howmet’s engine spares and an increase in orders for new builds and legacy fighter jet parts.

RBC Bearings Incorporated (RBC - Free Report) is gaining from the strong performance of the Aerospace/Defense segment. Strength in the commercial aerospace market, driven by strong growth in orders from the OEM and the aftermarket verticals, is driving the Aerospace/Defense segment. The segment’s revenues were up 41.2% year over year in fourth-quarter fiscal 2026 (ended March 2026).

PH's Price Performance, Valuation and EstimatesShares of Parker-Hannifin have gained 11.1% in the past six months compared with the industry’s growth of 6.3%.

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From a valuation standpoint, PH is trading at a forward price-to-earnings ratio of 29.13X, above the industry’s average of 22.76X. Parker-Hannifin carries a Value Score of F.

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The Zacks Consensus Estimate for PH’s fiscal 2026 earnings has increased 0.7% over the past 60 days.

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Parker-Hannifin currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways BF.B is expanding its premium portfolio and innovation to strengthen pricing power and long-term growth.Brown-Forman is benefiting from strong emerging-market demand, led by Jack Daniel's brands and New Mix.BF.B expects emerging markets and Travel Retail to remain key growth drivers in fiscal 2027. Brown-Forman Corporation (BF.B - Free Report) leverages its brand strength and premiumization strategy as important drivers for long-term growth. By focusing on well-established, globally recognized labels and expanding premium expressions, the company is reinforcing pricing power, supporting margins and prioritizing value-led growth.

The company is focused on leveraging its iconic brands, expanding its premium portfolio, driving innovation and accelerating global growth. Brown-Forman’s premiumization strategy emphasizes strengthening its portfolio through high-quality, premium brands to capitalize on consumers’ growing preference for authentic spirits. The company is also expanding its premium-plus and super-premium offerings, particularly in emerging markets where consumer demand has remained relatively resilient.

Brown-Forman is strengthening its premium positioning through route-to-consumer initiatives as well. A key priority is portfolio premiumization and innovation, with continued investment in premium-plus brands and new product launches like flavored whiskey variants, which are generating strong consumer engagement and helping drive incremental growth. The company is also advancing its Ready-to-Drink portfolio, expanding offerings such as New Mix and testing launches in new markets.

Brown-Forman has been seeing momentum across its Emerging markets for a while now. In fiscal 2026, net sales in Emerging markets increased 14% on a reported basis and 12% on an organic basis. The increase was driven by growth across the Jack Daniel’s family of brands, led by Türkiye, the United Arab Emirates and Brazil. It was also supported by robust double-digit growth of New Mix in Mexico, an estimated net increase in distributor inventories and favorable foreign exchange.

Brown-Forman’s emerging markets continue to serve as an important growth driver, supported by resilient demand trends. The company is expanding the distribution of super-premium whiskey brands in markets such as Brazil, where it sees long-term opportunity. Overall, emerging markets remain a key pillar of growth, backed by demand resilience, distribution gains, premiumization and targeted investment. In fiscal 2027, management expects continued growth across the emerging international markets and the Travel Retail channel.

BF.B’s Price Performance, Valuation and EstimatesBrown-Forman shares have gained 5.1% in the past six months compared with the industry’s 17.4% growth.

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From a valuation standpoint, BF.B trades at a forward price-to-earnings ratio of 16.14X compared with the industry’s average of 15.71X.

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The Zacks Consensus Estimate for BF.B’s fiscal 2027 and fiscal 2028 earnings per share (EPS) indicates year-over-year growth of 11.8% and 1.4%, respectively. The company’s EPS estimate for fiscal 2027 and fiscal 2028 has increased in the past 30 days.

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Brown-Forman currently carries a Zacks Rank #3 (Hold).

Stocks to Consider in the Consumer Staples Space The Chefs' Warehouse, Inc. (CHEF - Free Report) , which is a distributor of specialty food products in the United States, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Chefs' Warehouse's current financial-year sales indicates growth of 8.3% from the prior-year level. CHEF delivered a trailing four-quarter earnings surprise of 28.9%, on average.

Nomad Foods Limited (NOMD - Free Report) , which manufactures and distributes frozen foods, currently carries a Zacks Rank #2 (Buy).

The consensus estimate for Nomad Foods’ current financial-year sales is expected to rise 0.5% from the year-ago reported figure. NOMD delivered a trailing four-quarter earnings surprise of 8.6%, on average.

Medifast, Inc. (MED - Free Report) , which is a leading manufacturer and distributor of clinically-proven healthy living products and programs, currently carries a Zacks Rank of 2. MED delivered an average earnings surprise of 65.5% in the last reported quarter.

The Zacks Consensus Estimate for Medifast’s current financial-year sales indicates a decline of 26% from the year-ago number.

Key Takeaways Elevance Health's Carelon contributes 36.3% of operating revenues, expanding beyond health insurance.ELV said CareBridge cut readmissions 20% and saved over 10% in post-acute care costs.Carelon's Q1 2026 operating gain fell 3.8%, but investments support long-term growth prospects. Carelon is emerging as a key pillar of Elevance Health, Inc.'s (ELV - Free Report) long-term growth strategy as the company expands beyond traditional health insurance. Through its integrated care delivery, pharmacy and care management businesses, Carelon is helping improve clinical outcomes while creating new revenue opportunities. The segment now contributes around 36.3% of Elevance Health's total operating revenues, underscoring its growing role in the company's diversified business model.

The business is also becoming a meaningful driver of operational efficiency. Carelon combines AI, predictive analytics and coordinated care programs to identify high-risk patients earlier and intervene before medical conditions worsen. Its integrated CareBridge and care-at-home platform has reduced hospital readmissions by 20% while generating over 10% savings in post-acute care costs. These capabilities also support higher medication adherence, fewer emergency room visits and improved care coordination, reinforcing Carelon's competitive position.

However, Carelon's first-quarter 2026 operating gain declined 3.8% year over year due to lower affiliated health plan membership and continued investments in expanding risk-based programs. Even so, these investments are laying the foundation for future growth. Specialty pharmacy, CareBridge and integrated medical-pharmacy solutions continue to gain traction, supporting Carelon's long-term growth prospects as employers seek more cost-effective healthcare solutions.

Carelon's growing role complements ELV's broader financial momentum. Operating revenues rose 1.5% year over year in the first quarter of 2026, and the company raised its 2026 adjusted EPS guidance to at least $26.75. As Carelon scales its clinical and pharmacy capabilities, it is well positioned to become a key contributor to Elevance Health's earnings growth and competitive advantage.

How Are Competitors Faring?

Some of ELV’s major competitors in the value-based care space are UnitedHealth Group Incorporated (UNH - Free Report) and Humana Inc. (HUM - Free Report) .

UnitedHealth, through its Optum segment, is scaling AI-driven care management, pharmacy and provider solutions to improve care coordination and operational efficiency. Its integrated care model supports value-based reimbursement while diversifying revenues beyond its insurance business. UnitedHealth’s total revenues rose 2% year over year in the first quarter of 2026.

Humana is strengthening its integrated care strategy through CenterWell, which combines primary care, home health and pharmacy services. The company continues expanding value-based care and home-based services, aiming to improve patient outcomes while controlling medical costs. Humana’s total revenues rose 23.5% year over year in the first quarter of 2026.

Elevance Health’s Price Performance, Valuation & EstimatesShares of ELV have risen 12.1% in the year-to-date period against the industry’s fall of 2.9%.

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From a valuation standpoint, Elevance Health trades at a forward price-to-earnings ratio of 13.85, below the industry average of 15.70. ELV carries a Value Score of A.

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The Zacks Consensus Estimate for Elevance Health’s 2026 earnings is pegged at $26.92 per share, implying an 11.1% drop from the year-ago period.

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