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NASDAQ:AMD

## AMD Stock Falls 10% After Hours Despite Record Revenue as Investors Focus on AI Expectations

Advanced Micro Devices (NASDAQ: AMD) shares fell 10% in after-hours trading Tuesday, despite reporting record second-quarter revenue and earnings, as investors appeared to take profits following high expectations for the company's AI business.

AMD delivered record second-quarter revenue of $11.5 billion, up 50% year over year, while non-GAAP earnings per share surged 246% to $1.66. Gross margin expanded to 56%, and operating income climbed to $3.1 billion, reflecting strong profitability as AI demand continued to accelerate.

The Data Center business remained AMD's primary growth engine. Segment revenue more than doubled, rising 107% year over year to $6.7 billion, driven by robust demand for EPYC server processors and Instinct AI accelerators. The segment accounted for approximately 58% of total company revenue during the quarter. Meanwhile, the Client business continued to perform well with Ryzen processor demand driving 23% growth, although Gaming revenue declined 31% due to weaker semi-custom sales.

Management highlighted a series of major AI announcements during the quarter, including the launch of the Helios AI rackscale platform, the new Instinct MI400 GPU family, sixth-generation EPYC processors, and expanded partnerships with leading AI companies including OpenAI, Microsoft, Meta, Anthropic, Oracle, and others. AMD also announced new collaborations designed to accelerate AI infrastructure deployments and broaden adoption of its hardware and software ecosystem.

Looking ahead, the company forecast third-quarter revenue of approximately $13.0 billion, representing roughly 41% year-over-year growth and another sequential acceleration, while maintaining an expected non-GAAP gross margin of approximately 56%.

Despite the strong financial performance and optimistic outlook, the stock declined after hours as investors appeared to have anticipated another exceptional quarter following AMD's strong rally and elevated expectations surrounding AI infrastructure spending. While the earnings reinforced AMD's growing position in AI computing, the market reaction suggests investors are demanding increasingly larger upside surprises from leading semiconductor companies.

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WS Investor 08-04-26

Semiconductor Stocks Fall as China's Chip Breakthrough Pressures Nvidia and the AI Sector

Semiconductor stocks came under pressure on Monday, dragging the Nasdaq lower as investors weighed China's rapidly advancing semiconductor industry against the latest developments in the global AI infrastructure race. Nvidia led the sector's decline, falling more than 4%, while weakness spread across AI and memory chipmakers.

The latest catalyst on the AI front came after reports that Nvidia is in talks to provide roughly $250 billion in financing guarantees for OpenAI's massive AI data center project in Ohio. The proposed 10-gigawatt facility would rank among the world's largest AI infrastructure projects, underscoring the enormous capital being committed to artificial intelligence. While the news reinforces long-term demand for AI hardware, it also highlights the rapidly evolving competitive landscape and the unprecedented scale of investment required across the industry.

Investor sentiment was also weighed down by developments in China. ChangXin Memory Technologies (CXMT), China's largest memory chipmaker, surged more than 400% in its Shanghai trading debut following Asia's largest IPO of 2026. The emergence of another major Chinese chipmaker renewed concerns that global competition in memory and AI-related semiconductors will intensify. Those concerns were particularly significant for Nvidia, whose growth opportunities in China have already been constrained by U.S. export restrictions.

The weakness extended across the broader semiconductor sector. Memory-related companies including Sandisk, Micron Technology, Western Digital, and SK Hynix posted notable declines, while ASML, AMD, Intel, Marvell Technology, Super Micro Computer, and Taiwan Semiconductor Manufacturing Co. (TSMC) also traded lower as investors reassessed the industry's competitive outlook.

Despite Monday's selloff, the semiconductor industry's long-term fundamentals remain supported by accelerating AI adoption and record investment in data center infrastructure. However, the combination of elevated valuations, China's rapid technological progress, and an increasingly competitive global landscape prompted investors to lock in profits following the sector's strong rally.

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European Investor 07-27-26

AMD Stock Rises 3.8% as China AI Chip Approval News and Analyst Price Target Increases Lift Sentiment

Advanced Micro Devices (NASDAQ: AMD) shares climbed 3.8% on Tuesday after receiving fresh support from Wall Street analysts and a Reuters report that another Chinese company has obtained U.S. approval to purchase AMD's advanced AI chips.

Bank of America raised its price target on AMD to $620 from $550 while maintaining a Buy rating. Meanwhile, KeyBanc increased its target price to $725 from $530 and reiterated its Overweight rating, reflecting growing confidence in AMD's long-term AI growth prospects.

According to Reuters, the U.S. government approved Zhuhai Hengqin Yunxiang Zhisheng Network Technology to purchase certain AMD AI accelerators that compete with Nvidia's H200 chips. The report added that ZTE Kangxun Telecom and server maker Maginfra also received approval to purchase Nvidia's H200 processors. These approvals follow similar authorizations granted in May to major Chinese technology companies, including Alibaba, Tencent, ByteDance, and JD*com, suggesting Washington may be selectively easing restrictions on advanced AI chip exports to China.

The Reuters report was viewed as a positive development for AMD, as China remains an important long-term market for AI infrastructure despite ongoing export controls. The latest approvals could allow AMD to capture additional demand from Chinese cloud providers and enterprise customers while expanding its presence in one of the world's largest AI markets.

The broader semiconductor sector also traded higher, supported by expectations of sustained AI infrastructure spending and easing inflation data that reinforced hopes for lower U.S. interest rates. The combination of improving policy developments, stronger access to the Chinese market, and renewed analyst optimism helped lift AMD shares alongside other AI chipmakers.

Investors will continue watching for further developments in U.S. export policy, enterprise AI spending trends, and AMD's execution in the increasingly competitive AI accelerator market, where it continues to challenge Nvidia for market share.

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The Investor 07-14-26

AMD Stock Jumps as Goldman Sachs Raises Price Target to $640

Advanced Micro Devices (NASDAQ: AMD) surged nearly 9% on Monday after Goldman Sachs reaffirmed its Buy rating and sharply increased its price target on the semiconductor giant to $640 from $450.

The sizable price target increase comes as optimism surrounding artificial intelligence infrastructure spending continues to strengthen. AMD has been gaining traction in the AI accelerator market with its Instinct GPU lineup, while growing demand for high-performance computing chips has fueled expectations for sustained revenue growth.

The bullish analyst update also reflects confidence that AMD is well positioned to benefit from expanding enterprise AI adoption and continued investment in data center infrastructure. Investors have increasingly viewed the company as one of the leading beneficiaries of the global AI spending cycle alongside other major semiconductor firms.

The rating action helped accelerate buying interest, pushing AMD shares to fresh highs during Monday's session and making the stock one of the strongest performers in the semiconductor sector.

The move highlights continued investor enthusiasm for AI-related chipmakers, with analysts remaining optimistic that strong demand for AI hardware and cloud infrastructure will support AMD's long-term growth trajectory.

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WS Investor 07-06-26

AMD (AMD) Stock Rises After Cantor Fitzgerald Raises Price Target to $700

Advanced Micro Devices (NASDAQ: AMD) shares gained 3.4% on Monday after Cantor Fitzgerald raised its price target on the semiconductor giant, citing continued confidence in the company's position within the rapidly expanding artificial intelligence market.

The brokerage increased its price target to $700 from $500 while reiterating its Overweight rating, signaling meaningful upside potential as AMD continues to strengthen its AI portfolio.

# Cantor Fitzgerald Turns More Bullish on AMD

The higher price target reflects growing optimism about AMD's ability to capture a larger share of the AI accelerator market, where demand remains robust as hyperscale cloud providers continue investing heavily in AI infrastructure.

AMD has been expanding its presence in AI chips with its Instinct accelerator lineup while benefiting from strong demand for EPYC server processors, positioning the company to compete more aggressively in the data center market.

# AI Infrastructure Spending Continues to Support Semiconductor Stocks

The analyst action comes as investors remain focused on companies tied to artificial intelligence infrastructure. Expectations for sustained spending on AI data centers, high-performance computing, and cloud infrastructure have continued to support leading semiconductor names.

While AI remains the primary long-term growth driver, improving market sentiment also contributed to Monday's gains across the broader technology sector.

Why AMD Stock Rose

Investors responded positively to several catalysts:

* Cantor Fitzgerald raised its price target to $700 from $500.
* The firm reiterated its Overweight rating.
* Continued optimism surrounding AI accelerator demand.
* Strong expectations for AI infrastructure and data center investment.

The combination of a bullish analyst update and ongoing confidence in AI-related semiconductor spending helped lift AMD shares 3.4% during Monday's trading session.

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WS Investor 06-30-26

AMD Shares Rise 3% After Bernstein Establishes $600 Price Target

Advanced Micro Devices (NASDAQ: AMD) gained 3% in premarket trading after Bernstein analyst Stacy Rasgon established a $600 price target and assigned an Outperform rating, reinforcing Wall Street's increasingly bullish view on the semiconductor company's AI opportunities.

The positive analyst action comes as AMD continues to strengthen its position in the rapidly expanding artificial intelligence market. Investors have become increasingly optimistic about the company's ability to capture a larger share of AI accelerator spending, particularly as hyperscale cloud providers and enterprise customers seek alternatives in the fast-growing AI infrastructure market.

Bernstein's $600 target suggests substantial upside potential from current levels and reflects confidence in AMD's expanding AI product portfolio, including its Instinct accelerator family and next-generation data center processors. The firm appears to be betting that AI-related demand will remain a powerful growth driver for years to come.

AMD has emerged as one of the primary competitors to Nvidia in AI computing, while also maintaining strong positions in server CPUs, personal computers, gaming, and embedded markets. The company's data center business has become a particular focus for investors as cloud providers and enterprises increase spending on AI training and inference infrastructure.

The analyst call follows a series of announcements highlighting AMD's growing influence in the AI ecosystem. Earlier this week, Rackspace Technology signed a definitive agreement with AMD for the phased deployment of 30 megawatts of AMD-powered AI compute infrastructure, underscoring the strong demand environment for the company's products.

Investor sentiment toward semiconductor stocks has remained positive as AI-related capital spending continues to accelerate. Equipment suppliers, chip designers, and data center infrastructure providers have all benefited from expectations that AI investment will remain one of the technology sector's strongest growth themes.

AMD's premarket gain suggests investors welcomed Bernstein's optimistic outlook and see further room for appreciation as the company continues executing on its AI strategy. Market participants will be closely watching future customer deployments, data center revenue growth, and upcoming product launches for evidence that AMD can continue expanding its presence in the highly competitive AI computing market.

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WS Investor 06-18-26

AMD Jumps 7% After Wolfe Research Raises Price Target

Advanced Micro Devices (NASDAQ: AMD) surged 7% on Monday after Wolfe Research raised its price target on the semiconductor company to $450, while maintaining an Outperform rating.

The bullish target increase reflects growing confidence in AMD's position within the rapidly expanding artificial intelligence infrastructure market. Investors have increasingly focused on the company's AI accelerator business, where its Instinct GPU lineup is competing for a share of the massive spending wave driven by hyperscale cloud providers and enterprise AI deployments.

The strong rally suggests the market views AMD as one of the primary beneficiaries of continued AI-related capital expenditures, alongside other leading semiconductor firms. Analysts have highlighted improving demand for high-performance computing chips and data center products as key drivers of future revenue growth.

AMD has also benefited from expectations that major cloud providers and technology companies will continue investing heavily in AI infrastructure, creating opportunities for alternative suppliers beyond the market leader. The positive analyst commentary reinforced investor optimism that AMD can continue gaining traction in the fast-growing AI accelerator market.

The stock's 7% gain made it one of the stronger performers in the semiconductor sector, underscoring the market's appetite for companies with significant exposure to AI-driven growth trends.

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WS Investor 06-16-26

### AMD Rises 4.7% Despite Mixed Analyst Calls as AI Optimism Continues to Drive Momentum

Advanced Micro Devices (AMD) gained 4.7% on Friday, overcoming a mixed set of analyst rating changes as investors remained focused on the company's growing position in the artificial intelligence semiconductor market.

The analyst activity reflected sharply differing views on AMD's valuation and future growth prospects. Goldman Sachs upgraded the stock to Buy, signaling confidence in the company's ability to benefit from accelerating AI infrastructure spending and growing demand for its data center products. The upgrade helped reinforce investor optimism surrounding AMD's expanding presence in the AI accelerator market.

However, not all analysts shared that enthusiasm. Wolfe Research downgraded the stock to Peer Perform, while Barclays issued a more cautious downgrade, moving its rating from Overweight to Underweight. he bearish calls might suggest the believe that the stock's recent rally has already priced in much of the expected AI-driven growth.

Despite the conflicting analyst opinions, investors appeared to focus on the broader industry backdrop. Demand for AI computing infrastructure remains exceptionally strong, and AMD continues to be viewed as one of the primary challengers to Nvidia in the rapidly growing market for AI accelerators and high-performance data center chips.

The stock's advance suggests that bullish sentiment surrounding artificial intelligence continues to outweigh valuation concerns. While some analysts are becoming more cautious after AMD's strong run, investors remain confident that the company is well positioned to capture a larger share of the AI market as hyperscale cloud providers and enterprises increase spending on next-generation computing infrastructure.

Friday's gain highlights the powerful influence of the AI investment theme, with positive long-term growth expectations proving strong enough to offset multiple analyst downgrades.

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WS Investor 06-12-26

AMD Rises 3.1% After Bank of America Raises Price Target on AI Opportunity

Advanced Micro Devices (NASDAQ: AMD) shares gained 3.1% on Thursday after Bank of America raised its price target on the chipmaker from $500 to $560 while maintaining a Buy rating, reflecting growing confidence in the company's position within the rapidly expanding artificial intelligence market.

The higher target underscores Wall Street's increasingly bullish view that AMD is becoming a major beneficiary of the global AI infrastructure buildout. The company has been gaining traction with its AI accelerators and data center products, which are competing for a larger share of spending from cloud providers and enterprise customers seeking alternatives in the high-performance computing market.

Investor sentiment has improved as demand for AI-related hardware continues to accelerate across the technology sector. AMD's data center business has emerged as a key growth driver, supported by strong adoption of its latest server processors and AI-focused products.

The analyst upgrade also reflects expectations that AI-related capital expenditures will remain elevated for years as hyperscale cloud companies, enterprises, and governments continue investing heavily in next-generation computing infrastructure.

AMD has been one of the most closely watched semiconductor stocks during the AI boom, and the latest target increase suggests analysts see further upside potential as the company expands its presence in high-growth markets. Thursday's gain added to broader strength across semiconductor stocks as investors continued to favor companies positioned to benefit from long-term AI spending trends.

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European Investor 06-11-26

AMD Surges 17% in Premarket as AI Demand Drives Record Quarterly Results

May 6, 2026 · Earnings Report

Advanced Micro Devices delivered a blowout first quarter yesterday, beating expectations across all major financial metrics and sending shares 17% higher in premarket trading. The results were fueled by explosive growth in its Data Center business, which now accounts for more than half of total company revenue, as hyperscalers and enterprise customers raced to build out AI infrastructure.

First quarter revenue came in at $10.3 billion, up 38% year-over-year and roughly flat compared to the prior quarter. On a non-GAAP basis, the company reported gross margin of 55%, operating income of $2.5 billion — up 43% from a year ago — and diluted earnings per share of $1.37, compared to $0.96 in Q1 2025.

"We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with Data Center now the primary driver of our revenue and earnings growth," said Dr. Lisa Su, AMD chair and CEO. "We are seeing strong momentum as inferencing and agentic AI drive increasing demand for high-performance CPUs and accelerators."

The Data Center segment was the clear standout, with revenue climbing 57% year-over-year to $5.8 billion on strong EPYC CPU demand and a continued ramp of Instinct GPU shipments. A landmark deal with Meta — involving up to 6 gigawatts of AMD Instinct GPUs including a custom MI450-based chip — underscored the company's deepening relationships with the world's largest AI spenders. AWS, Google Cloud, Microsoft Azure, and Tencent also announced new or expanded EPYC-powered cloud instances during the quarter.

On the consumer side, the Client and Gaming segment rose 23% to $3.6 billion, with the client business alone up 26% as Ryzen processors continued to gain market share. Gaming revenue grew 11% to $720 million, driven by Radeon GPU demand, though partly offset by softer semi-custom revenue. The Embedded segment posted $873 million in revenue, up 6% year-over-year, as demand strengthened across several end markets.

CFO Jean Hu noted that the quarter represented record free cash flow generation. "First quarter results reflect strong performance across all key financial metrics, with accelerating revenue growth, earnings expansion and record quarterly free cash flow," she said. "These results highlight continued momentum and execution across the business, demonstrating the leverage in our operating model as we invest for accelerated growth while expanding profitability."

Looking ahead, AMD guided second quarter revenue to approximately $11.2 billion, plus or minus $300 million. The midpoint implies year-over-year growth of roughly 46% and a sequential increase of approximately 9%. Non-GAAP gross margin for Q2 is expected to reach approximately 56%. Su noted that customer forecasts for the upcoming MI450 Series and Helios rack-scale platform are already exceeding the company's own initial expectations, with a growing pipeline of large-scale deployments providing greater visibility into AMD's growth trajectory through the rest of 2026.

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WS Investor 05-06-26

08-05-26The Investor

08-05-26WS News

08-04-26WS News

07-28-26WS News

NYSE:DIS

Disney (DIS) Stock Gains After Strong Q3 Earnings, Parks Growth, and Share Buyback Target

The Walt Disney Company (NYSE: DIS) shares rose about 2.2% on Wednesday after the entertainment giant reported stronger-than-expected fiscal third-quarter results, reaffirmed its full-year outlook, and increased its planned share repurchases. Investors also welcomed continued momentum in Disney's Experiences business, improving profitability in Entertainment, and another quarter of solid consumer engagement across its franchises.

The earnings report came as broader U.S. markets traded modestly higher following stronger-than-expected S&P Global PMI data, helping support sentiment despite weaker ADP employment figures released earlier in the day.

Revenue and Operating Profit Continue to Grow

Disney reported fiscal third-quarter revenue of $25.2 billion, up 7% from a year earlier, while total segment operating income climbed 21% to $5.6 billion, exceeding the company's prior guidance.

Key financial results included:

* Revenue: $25.2 billion (+7% year over year)
* Income before taxes: $3.6 billion (+14%)
* Total segment operating income: $5.6 billion (+21%)
* Adjusted EPS: $2.06 (+28%)
* Free cash flow: $3.1 billion (+63%)

Although GAAP diluted EPS declined to $1.51 from $2.92 a year ago due to certain items, investors focused on the much stronger adjusted earnings performance and improving operating profitability across the business.

Experiences and Entertainment Lead Growth

Disney's Experiences segment remained the company's largest growth driver.

Segment revenue increased 10% to nearly $10.0 billion, while operating income rose 20% to $3.0 billion as global guest attendance continued to accelerate.

The Entertainment segment also delivered a strong quarter, with operating income surging 64% year over year to $1.68 billion, reflecting improved streaming profitability and continued strength across Disney's content portfolio.

Meanwhile, the Sports segment reported a 17% decline in operating income despite a modest increase in revenue, as higher programming costs weighed on ESPN's profitability.

Toy Story 5 Becomes Another Disney Blockbuster

Management highlighted the continued value of Disney's intellectual property portfolio.

Toy Story 5 has already surpassed $1 billion at the global box office, helping drive higher consumer products sales, increased Disney+ engagement, and stronger performance across Disney's parks and cruise businesses.

The company also noted that ESPN continued to deliver strong viewership gains, while Experiences welcomed accelerating guest growth worldwide despite ongoing macroeconomic uncertainty.

Disney Reaffirms Outlook and Expands Share Repurchases

Disney reiterated its optimistic outlook for both fiscal 2026 and fiscal 2027.

The company continues to expect:

* Approximately 12% adjusted EPS growth in fiscal 2026 excluding the 53rd week.
* Approximately 16% adjusted EPS growth including the additional week.
* Fourth-quarter segment operating income of approximately $4.9 billion.
* Double-digit adjusted EPS growth again in fiscal 2027.

Disney also raised its capital return commitment, announcing that it now expects to repurchase at least $9 billion of stock during fiscal 2026, providing an additional catalyst for shareholders.

What Investors Are Watching

Wednesday's earnings reinforced Disney's improving financial momentum. Strong growth in Experiences, sharply higher Entertainment profitability, expanding free cash flow, and an increased share buyback target outweighed weakness in the Sports segment and lower reported GAAP earnings.

Investors will continue monitoring Disney's streaming profitability, theme park demand, ESPN's performance, upcoming film releases, and the company's ability to sustain earnings growth while returning more capital to shareholders through buybacks.

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The Investor 08-05-26

Disney Surges 7% as Streaming Profits Soar and Zootopia 2 Drives Blockbuster Quarter

May 6, 2026 · Earnings Report

Walt Disney shares jumped 7% today after the entertainment giant reported fiscal second quarter 2026 results that beat expectations across its three business segments, with streaming finally delivering the kind of profitability investors have been waiting years to see.

Total revenues for the quarter ended March 28, 2026 rose 7% to $25.2 billion from $23.6 billion in the same period a year ago. Income before income taxes climbed 9% to $3.4 billion. Total segment operating income grew 4% to $4.6 billion. GAAP diluted EPS fell to $1.27 from $1.81, largely due to tax-related items, but adjusted EPS rose 8% to $1.57 from $1.45, the figure investors focus on most closely.

The Entertainment segment was the standout, with revenues up 10% to $11.7 billion and operating income rising 6% to $1.34 billion. The most telling number was Entertainment SVOD operating income, which nearly doubled to $582 million from $310 million a year ago, pushing the streaming business past a double-digit operating margin for the first time. The quarter benefited from the continued performance of Zootopia 2, which generated $1.9 billion in global box office and drove the Zootopia franchise past 1 billion hours streamed on Disney+. The film became the highest grossing foreign film of all time in China, where Zootopia Land remains a major draw at Shanghai Disneyland.

The Experiences segment posted fiscal second quarter records in both revenue and operating income, with revenues up 7% to $9.5 billion and operating income up 5% to $2.6 billion. Per capita spending at domestic parks rose 5%, driven by admissions, food and beverage, and merchandise. The quarter also included the March launch of the Disney Adventure cruise ship in Singapore, where bookings have been strong, and the opening of World of Frozen at Disneyland Paris. Global guest attendance across parks and cruises grew 2%, though domestic park attendance dipped 1% due partly to softer international visitation.

The Sports segment saw revenues rise 2% to $4.6 billion, though operating income declined 5% to $652 million due to higher rights fees tied to new contract agreements. ESPN retained the largest share of linear sports consumption in the US despite competing with the Super Bowl and the Olympics during the quarter. ESPN Men's Tournament Challenge attracted 27 million completed brackets, an all-time record.

CEO Josh D'Amaro and CFO Hugh Johnston raised the company's full year fiscal 2026 adjusted EPS growth outlook to approximately 12% excluding the 53rd week, or approximately 16% including it. Third quarter segment operating income is expected to reach approximately $5.3 billion. The company is targeting at least $8 billion in share repurchases in fiscal 2026 and continues to expect double-digit adjusted EPS growth in fiscal 2027. Coming up in the release slate are The Mandalorian and Grogu, Toy Story 5, and a live-action Moana, all of which are expected to fuel the company's broader franchise ecosystem across streaming, parks, consumer products and games.

For a company that was long criticized for sacrificing profitability in the pursuit of streaming subscribers, the first double-digit streaming operating margin marks a meaningful inflection point, and the market's 7% reaction suggests investors believe Disney has finally turned the corner.

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Global Finance News 05-06-26

Disney will release quarter results before the opening of market on May 6, 2026

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European Investor 04-13-26

5 stocks that crashed this week after reporting earnings and I hold ALL of them. Here’s what’s I’m doing. Loser Alert | Dr Wealth

I'm not immune to the sell-offs in the market and like any vested investor, nothing sucks more than waking up in the morning to see a stock I own go down by 20%. Unfortunately for me, I had to experience this at least 5 times this week as most of my holdings traded down significantly.

(drwealth.com)

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The Investor 02-08-26

Josh D’Amaro Named Next Chief Executive Officer of The Walt Disney Company

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WS Investor 02-03-26

The Walt Disney Company reported its first-quarter fiscal 2026 earnings for the period ended December 27, 2025, showing revenue growth alongside lower profitability driven by higher costs in key segments.

Revenue rose 5% year over year to $26.0 billion, while income before income taxes was $3.7 billion, roughly in line with the prior year. Total segment operating income declined 9% to $4.6 billion, and diluted EPS decreased to $1.34 from $1.40 a year earlier. Adjusted EPS fell to $1.63 from $1.76.

In Entertainment, revenue increased 7%, but operating income dropped to $1.1 billion as higher programming, production, and marketing expenses outweighed gains from subscriptions, affiliate fees, and theatrical releases. Streaming (SVOD) revenue grew 11%, with operating income improving by $189 million to $450 million, lifting the streaming operating margin to 8.4%. Advertising revenue declined 6%, reflecting the absence of prior-year political advertising and the impact of portfolio changes.

The Sports segment posted operating income of $191 million, down $56 million year over year, as higher programming and production costs and lower affiliate fees more than offset a 10% increase in advertising revenue. A temporary suspension of YouTube TV carriage negatively affected segment operating income by approximately $110 million.

Experiences delivered a standout quarter, reporting record revenue of $10.0 billion and segment operating income of $3.3 billion. Domestic Parks & Experiences operating income grew 8%, supported by a 1% increase in attendance and a 4% rise in per capita spending.

Source: Business Wire

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Global Finance News 02-02-26

The Walt Disney Company (NYSE: DIS) will host a live audio webcast to discuss fiscal first quarter 2026 financial results beginning at 8:30 a.m. ET / 5:30 a.m. PT on Monday, February 2, 2026.

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Global Finance News 01-14-26

Disney posts strong FY2025 results with sharp earnings rebound and record performance at Parks

The Walt Disney Company reported fourth-quarter revenue of 22.5 billion dollars, flat year on year, while full-year revenue rose 3 percent to 94.4 billion dollars. Income before taxes more than doubled for both Q4 and the year, reaching 2.0 billion dollars and 12.0 billion dollars respectively. Full-year segment operating income climbed 12 percent to 17.6 billion dollars, and diluted EPS rose to 6.85 dollars from 2.72 dollars last year.

Entertainment saw full-year operating income rise 19 percent, though Q4 declined due to tough theatrical comparisons with last year’s hits Inside Out 2 and Deadpool & Wolverine. Direct-to-Consumer revenue rose 8 percent and the division posted 352 million dollars in Q4 operating income, while Disney+ and Hulu subscriptions reached 196 million combined. Sports delivered stable results, with ESPN advertising up 8 percent. Experiences posted record Q4 and full-year earnings driven by strong domestic and international parks performance.

Disney expects double-digit adjusted EPS growth in fiscal 2026, continued expansion in Entertainment and Experiences, 24 billion dollars in content investment, and 7 billion dollars in share repurchases. A dividend of 1.50 dollars per share will be paid in two installments in 2026.

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European Investor 11-13-25

Doritos® Loaded Launches Immersive Dining Experience at Disneyland Paris

PepsiCo and Disneyland Paris have introduced Doritos® Loaded, a bold new food concept now available at the newly opened Overland Trail Cafe in Frontierland®. This Wild West-themed food kiosk offers hearty, shareable dishes built on ultra-crispy Doritos® chips topped with rich sauces and toppings, served in a signature triangular tray.

Three exclusive recipes—Vegan Deputy, Short Fuse, and Smoking Beef Bounty—highlight the brand’s inventive culinary approach. The location features immersive storytelling around fictional adventurer Cassie Jackston, designed in collaboration with Walt Disney Imagineering and PepsiCo’s design team.

The project marks a deeper alliance between PepsiCo and Disneyland Paris, enhancing the park’s food offerings with a creative, snack-forward experience.

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European Investor 07-14-25

The Walt Disney Company (NYSE: DIS) will host a live audio webcast to discuss fiscal third quarter 2025 financial results beginning at 8:30 a.m. ET / 5:30 a.m. PT on Wednesday, August 6, 2025.

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The Investor 07-02-25

08-05-26The Investor

05-06-26Global Finance News

US

The U.S. services sector accelerated more than expected in July, while overall private-sector business activity reached its strongest level in several months, highlighting the economy's resilience despite signs of a cooling labor market.

S&P Global Services PMI (Jul)
Actual: 54.6
Forecast: 53.6
Previous: 51.2
S&P Global Composite PMI (Jul)
Actual: 54.5
Forecast: 53.6
Previous: 51.9

Both readings comfortably exceeded expectations and improved sharply from June, signaling a broad-based acceleration in business activity. A Services PMI of 54.6 points to robust expansion in the largest part of the U.S. economy, supported by stronger demand and business confidence. Meanwhile, the Composite PMI indicates that overall private-sector activity gained momentum as both services and manufacturing contributed to growth.

The stronger PMI data contrasts with the weaker-than-expected ADP employment report released earlier in the day, suggesting that while hiring may be slowing, business activity remains healthy. This mixed picture is likely to keep investors focused on upcoming labor market data, particularly Friday's official Nonfarm Payrolls report.

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The Investor 08-05-26

The U.S. labor market added fewer private-sector jobs than expected in July, according to the latest ADP Employment Report.

Actual: 44K
Forecast: 68K
Previous: 95K

Private payroll growth slowed sharply from June and missed market expectations, pointing to a cooling labor market. While employment continued to increase, the pace of hiring was the weakest in several months, suggesting employers are becoming more cautious amid slowing economic activity and elevated borrowing costs.

The softer-than-expected reading is likely to strengthen expectations that the Federal Reserve will have more room to ease monetary policy if broader labor market data confirm the trend. Investors will now closely watch Friday's official Nonfarm Payrolls report to determine whether the weakness seen in the ADP report is reflected in the government's employment data.

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The Investor 08-05-26

U.S. Job Openings Fall, Factory Orders Disappoint as Atlanta Fed Lowers GDPNow Forecast

U.S. economic data released on Tuesday painted a mixed picture of the economy, with labor demand and manufacturing activity showing signs of cooling while growth expectations were revised lower.

The JOLTS Job Openings report showed vacancies fell to 7.359 million in June, below both the 7.440 million consensus estimate and May’s revised 7.537 million. The decline suggests labor demand continues to moderate, supporting expectations that the U.S. job market is gradually cooling after remaining resilient for much of the year.

Manufacturing data also came in weaker than expected. Factory Orders declined 0.3% month-over-month in June, missing expectations for a 0.2% increase. However, the result represented an improvement from May’s revised 1.1% decline, indicating that manufacturing activity remains under pressure despite stabilizing from the previous month.

Meanwhile, the Atlanta Federal Reserve lowered its closely watched GDPNow estimate for third-quarter U.S. economic growth to 5.9% from 6.2%. Although the forecast remains exceptionally strong by historical standards, the downward revision reflects a slightly softer near-term economic outlook following the latest data releases.

The figures come after recent U.S. manufacturing PMI reports surprised to the upside, highlighting a mixed macroeconomic backdrop. While manufacturing activity has shown resilience, softer labor demand, weaker factory orders and a modest reduction in growth expectations suggest parts of the economy are beginning to lose momentum.

Investors will continue monitoring upcoming labor market and inflation data for further clues on the Federal Reserve’s policy path, as signs of slowing economic activity could strengthen expectations for future interest rate cuts if inflation continues to moderate.

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WS News 08-04-26

U.S. Stocks Climb as AI Earnings Momentum and Strong Economic Data Offset Geopolitical Uncertainty

U.S. stocks moved higher on Tuesday, with technology shares once again leading the market as investors welcomed another round of strong AI-relase earnings, upbeat economic data and easing concerns over the U.S.-Iran conflict.

The Nasdaq gained 1.38%, outperforming the broader market, while the Dow Jones Industrial Average rose 0.99% and the S&P 500 advanced 0.72%. The rally reflected continued confidence in artificial intelligence spending and corporate earnings despite ongoing geopolitical uncertainty.

AI Optimism Strengthens After Palantir's Strong Results

Technology stocks received another boost after Palantir reported exceptional quarterly results that reinforced optimism surrounding enterprise AI adoption. The company posted a 93% year-over-year increase in revenue, raised its full-year guidance and highlighted accelerating demand from both government and commercial customers. Shares surged following the report, extending the positive sentiment that has supported AI-related stocks throughout the earnings season.

The upbeat results added to investor confidence after last week's strong earnings from major technology companies, reinforcing expectations that AI investment remains one of the strongest themes driving corporate growth.

Manufacturing Data Signals Continued Economic Strength

Economic data also supported the market. The ISM Manufacturing PMI climbed to 55.6 in July from 53.3, well above expectations of 54.0 and marking the strongest expansion in the manufacturing sector in several years. The S&P Global Manufacturing PMI also remained solid at 53.9, while the ISM Prices Index eased to 71.1 from 73.0, suggesting inflationary pressures continued to moderate even as factory activity accelerated.

Lower Oil Prices Improve Market Sentiment

Investor confidence was further boosted by reports that diplomatic efforts between the United States and Iran continue to make progress, reducing fears of prolonged supply disruptions in the Middle East. The resulting decline in crude oil prices eased inflation concerns and supported sectors such as technology, consumer discretionary and industrials, although energy shares lagged the broader market.

What to Watch

Investors will now focus on upcoming labor market data and additional corporate earnings to assess whether the current rally can continue. AI-related earnings remain a key catalyst for technology stocks, while developments in U.S.-Iran negotiations and the direction of oil prices are likely to remain important drivers of broader market sentiment.

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European Investor 08-04-26

U.S. Trade Deficit Narrows in June

The U.S. trade deficit narrowed to $73.3 billion in June, improving from a revised $77.6 billion in May as the gap between exports and imports continued to shrink. Although the reading was slightly wider than economists' expectation of a $73.0 billion deficit, it marked a notable improvement from the previous month.

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European Investor 08-04-26

US Manufacturing Activity Accelerates in July as ISM Beats Expectations

U.S. manufacturing data painted a stronger-than-expected picture on Monday, with both the S&P Global Manufacturing PMI and the closely watched ISM Manufacturing PMI signaling improving factory activity. The stronger readings reinforced expectations that the industrial sector continues to recover despite elevated interest rates and ongoing trade uncertainty.

The ISM Manufacturing PMI rose to 55.6 in July, well above the market expectation of 54.0 and up from 53.3 in June. The reading points to an acceleration in manufacturing activity and suggests that new orders and production remained resilient at the start of the third quarter.

The earlier-released S&P Global Manufacturing PMI also came in at 53.9, slightly above the consensus forecast of 53.8 and matching June’s reading, indicating that manufacturing growth remained steady across a broad range of industries.

Inflation Pressures Ease Slightly but Remain Elevated

The ISM Manufacturing Prices Index declined to 71.1 from 73.0 in June, although it still exceeded expectations of 70.0. The lower reading suggests that input cost pressures continued to moderate but remained elevated, indicating inflation risks have eased somewhat without disappearing.

For investors, the combination of stronger manufacturing activity and gradually cooling price pressures is generally viewed as constructive, as it points to continued economic expansion without a significant resurgence in inflation.

What to Watch

Markets will now turn their attention to upcoming labor market and inflation data to assess whether the U.S. economy can maintain its current momentum. Investors will also monitor future Federal Reserve commentary to determine whether resilient economic activity and still-elevated price pressures could influence the outlook for interest rates in the coming months.

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WS News 08-03-26

US Stocks Slip as Stronger Economic Data Reinforces Fed Caution

U.S. stocks traded modestly lower on Friday, with the S&P 500 falling 0.23%, as investors digested a fresh batch of economic data pointing to resilient economic activity while weighing the implications for Federal Reserve policy.

The latest reports painted a mixed but generally constructive picture of the U.S. economy. Chicago PMI unexpectedly rose to 57.6 in July, beating expectations of 56.0 and improving from 56.7 in June, signaling that manufacturing activity in the Chicago region continued to expand at a healthy pace.

Consumer confidence also showed signs of improvement. The University of Michigan Consumer Sentiment Index increased to 55.2 from 49.5 in the previous month, surpassing the consensus estimate of 54.4. Meanwhile, the Consumer Expectations Index climbed to 55.4 from 50.7, also exceeding forecasts, suggesting households have become more optimistic about future economic conditions.

Inflation expectations offered additional encouragement. The University of Michigan's one-year inflation expectation remained unchanged at 4.2%, improving from the preliminary reading of 4.6% and matching market expectations. The stable inflation outlook may provide some reassurance that inflation pressures are not reaccelerating despite continued economic resilience.

Despite the largely positive data, markets remained under pressure as stronger economic activity could reinforce the Federal Reserve's cautious approach toward future interest rate cuts. Investors are increasingly balancing encouraging growth signals against the prospect that policymakers may keep borrowing costs elevated for longer if the economy continues to outperform expectations.

What to Watch

Markets will continue to monitor upcoming labor market and inflation data for further clues on the Fed's policy path. Investors will also remain focused on corporate earnings and management guidance as companies assess the impact of interest rates, consumer demand and ongoing macroeconomic uncertainty during the second half of the year.

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The Investor 07-31-26

Nasdaq Leads U.S. Markets Higher as Tech Earnings Fuel Rally

U.S. stocks traded broadly higher on Thursday, with the Nasdaq outperforming after another wave of stronger-than-expected corporate earnings reinforced optimism around artificial intelligence, cloud computing and technology spending.

At the time of writing, the Nasdaq was up 1.95%, while the S&P 500 gained 0.78% and the Dow Jones Industrial Average advanced 0.23%.

Technology stocks were the primary drivers of the rally, as investors continued to rotate into AI-related names following another round of upbeat quarterly results. Strong earnings from companies including Microsoft, Lam Research, Trane Technologies, Regeneron and Yum! Brands helped support broader market sentiment, while several companies also raised their full-year guidance, reinforcing confidence in corporate earnings despite ongoing macroeconomic uncertainty.

Industrial and infrastructure-related companies also attracted buying interest. Trane Technologies surged after reporting record bookings and raising its annual outlook, while Air Products advanced after exceeding adjusted earnings expectations and increasing its full-year EPS guidance despite large one-time restructuring charges.

Healthcare was another area of strength, with Regeneron posting double-digit revenue growth driven by Dupixent, EYLEA HD and Libtayo. Meanwhile, Enterprise Products Partners edged higher after reporting record earnings and cash flow supported by strong pipeline and terminal volumes.

Not all earnings reactions were positive. Investors sold shares of several defensive healthcare and consumer companies despite solid quarterly results. Bristol Myers Squibb, Sanofi and Altria all declined after reporting earnings, suggesting investors remain selective and continue to focus on long-term growth prospects rather than headline beats alone.

Attention now turns to the remainder of the earnings season and upcoming economic data, with investors watching whether the current momentum in AI, industrial spending and corporate profitability can continue supporting U.S. equities near record highs.

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WS Investor 07-30-26

US Jobless Claims Fall Unexpectedly, Signaling Continued Labor Market Strength

The number of Americans filing for unemployment benefits fell more than expected last week, highlighting the continued resilience of the U.S. labor market despite signs of slowing economic growth.

Initial jobless claims declined to 197,000, beating market expectations of 201,000 and improving from the previous week's revised reading of 188,000. The lower-than-expected figure suggests layoffs remain historically low and employers continue to retain workers.

Labor Market Remains Resilient

Continuing jobless claims, which measure the number of people receiving ongoing unemployment benefits, also came in stronger than expected. Claims fell to 1.782 million, below the consensus estimate of 1.800 million and down from 1.789 million previously.

The data indicate that unemployed workers are continuing to find new jobs relatively quickly, reinforcing the view that the labor market remains fundamentally healthy.

Mixed Picture for the Federal Reserve

The stronger labor market data follows weaker-than-expected second-quarter GDP growth and softer June PCE inflation figures released earlier in the day. Together, the reports present a mixed picture for the Federal Reserve, with easing inflation supporting the case for future policy easing while labor market resilience argues against an urgent need for rate cuts.

What to Watch

Investors will now focus on upcoming nonfarm payrolls, unemployment and wage growth data to determine whether labor market strength can be sustained. Continued resilience in employment alongside moderating inflation would support the prospect of a gradual easing cycle by the Federal Reserve rather than an aggressive series of interest rate cuts.

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WS Investor 07-30-26

US Economy Slows in Second Quarter as Inflation Cools

The U.S. economy grew at a slower pace than expected in the second quarter, while inflation continued to ease, reinforcing signs that economic growth is moderating even as price pressures gradually decline.

Gross domestic product expanded at an annualized rate of 1.5% in the second quarter, below both the 2.1% market expectation and the 2.1% growth recorded in the first quarter. The weaker reading points to slower economic momentum amid a still-restrictive interest rate environment.

Inflation Continues to Moderate

The Federal Reserve's preferred inflation gauge also showed further improvement. The headline PCE Price Index fell 0.1% month-over-month in June, matching expectations and reversing the 0.5% increase recorded in May. On an annual basis, PCE inflation slowed to 3.7%, in line with forecasts and down from 4.1% previously.

The softer inflation data suggest price pressures continue to ease, although inflation remains above the Federal Reserve's long-term target.

Markets Focus on Fed Outlook

The combination of slower economic growth and cooling inflation may strengthen expectations that the Federal Reserve will have greater room to ease monetary policy if inflation continues trending lower. However, policymakers are likely to seek additional evidence that inflation is moving sustainably toward target before making significant policy adjustments.

What to Watch

Investors will now turn their attention to upcoming labor market and inflation reports for further confirmation of the economy's trajectory. Whether inflation continues to cool without a sharper slowdown in economic activity will remain the key factor shaping expectations for future Federal Reserve interest rate decisions.

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WS Investor 07-30-26

08-05-26The Investor

07-30-26European Investor

07-29-26WS News

07-28-26WS News

NYSE:ANET

Arista Networks Stock Soars 12% After-Hours as Revenue Tops $3 Billion and AI Networking Demand Accelerates

Arista Networks (NYSE: ANET) shares surged 12% in after-hours trading on Tuesday after the company delivered record second-quarter results, beating the $3 billion revenue milestone for the first time while issuing strong guidance that reinforced optimism surrounding AI infrastructure spending.

Second-quarter revenue rose 37.7% year over year to a record $3.04 billion, while non-GAAP earnings per share climbed nearly 40% to $1.02. The company also expanded profitability, with non-GAAP operating margin improving to 49.9%, highlighting continued operating leverage despite rapid growth.

Management attributed the strong performance to robust demand across cloud, AI, enterprise, and campus networking. CEO Jayshree Ullal said Arista's "client-to-cloud" platform strategy continues to resonate as networking becomes the "central nervous system" of AI infrastructure.

The company also announced several AI-focused product launches during the quarter, including new 1.6 Tbps Ethernet switching platforms with liquid-cooled options designed for next-generation AI clusters. Arista also introduced new networking technologies aimed at improving the efficiency, scalability, and resilience of large AI deployments.

Looking ahead, management guided third-quarter revenue to approximately $3.3 billion, well above the just-reported quarter, while forecasting non-GAAP operating margins of 48% to 49% and non-GAAP earnings per share between $1.06 and $1.08.

The results arrive as investors remain highly optimistic about companies supplying networking infrastructure for AI data centers. Strong recent earnings from AI-related technology companies have reinforced expectations that hyperscale cloud providers will continue increasing capital spending on AI infrastructure, creating additional demand for high-performance networking equipment.

Investors welcomed Arista's combination of accelerating revenue growth, expanding margins, AI product innovation, and upbeat guidance, viewing the report as another sign that enterprise and hyperscale AI infrastructure investment remains strong.

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WS Investor 08-04-26

Arista Networks Rises After KeyBanc Raises Price Target on AI Networking Strength

Arista Networks (NYSE: ANET) gained 2.9% after KeyBanc reiterated its Overweight rating and raised its price target to $200 from $178.

The higher target reflects growing confidence in Arista's position as a leading provider of high-performance networking equipment for cloud computing and artificial intelligence infrastructure. As hyperscalers continue expanding AI data centers, demand for advanced networking solutions has become a critical part of the AI investment cycle.

Arista has been one of the primary beneficiaries of rising spending by major cloud providers, which require increasingly sophisticated networking technologies to connect AI servers and manage growing data traffic. The company's strong exposure to large-scale data center deployments has fueled investor optimism about its long-term growth prospects.

The analyst action comes amid a broader wave of bullish calls across the semiconductor and AI infrastructure sectors. Investors remain focused on companies supplying the hardware and networking backbone needed to support the rapid expansion of artificial intelligence workloads.

The stock's advance suggests investors welcomed the increased price target as further evidence that AI-related capital spending remains robust. With cloud providers and enterprise customers continuing to invest heavily in next-generation infrastructure, Arista is viewed as one of the key beneficiaries of the ongoing AI-driven technology spending cycle.

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The Investor 06-19-26

Arista Networks Falls 9% After Hours: Record Quarter Meets a Brutal Valuation Bar

Tuesday, May 5, 2026

Arista Networks delivered its strongest quarter yet — and the after-hours market responded with a 9% sell-off. It's the clearest illustration of today's earnings theme: at sufficiently stretched valuations, even exceptional results aren't enough.

## The Numbers Were Excellent

Q1 2026 revenue of $2.709 billion grew 35.1% year-over-year — accelerating from the 28.9% growth posted in Q4 2025 — and came in well above the consensus estimate of roughly $2.615 billion. Non-GAAP EPS of $0.87 beat the $0.81 analyst expectation. GAAP and non-GAAP operating margins held steady at 42.7% and 47.8% respectively — remarkable consistency for a company growing at this pace. Cash flow from operations was $1.69 billion in a single quarter. Revenue also grew 8.9% sequentially, a meaningful acceleration.

Product highlights were compelling. Arista unveiled the XPO MSA — a high-density liquid-cooled pluggable optics platform for next-generation AI data centers that reduces networking racks by up to 75% and saves up to 44% of floor space versus traditional architecture. The company's universal AI spine (the 7800 series) also advanced, addressing the micro-burst and head-of-line blocking challenges that plague large-scale AI training clusters. Net promoter score came in at 89, with 94% of customers expressing strong satisfaction — a rare feat for an enterprise hardware and software vendor.

## So Why Is It Down 9%?

The answer lies almost entirely in Q2 guidance. Arista guided Q2 revenue to approximately $2.8 billion and non-GAAP EPS to $0.88 — both essentially in line with Wall Street expectations, not above them. Non-GAAP operating margin guidance of 46–47% is also a step down from the 47.8% delivered in Q1. For a stock that had rallied over 33% year-to-date heading into this print and was trading at roughly 50x forward earnings and 18.5x EV/sales, "in line" is the new "miss."

The valuation math is unforgiving. At those multiples, the market had already priced in another beat-and-raise. When guidance merely matches rather than exceeds expectations, the implied growth premium deflates — and quickly. The after-hours move is less about what Arista said and more about what the stock had already assumed.

## The Structural Risk Market Is Pricing In

Beyond the immediate guidance reaction, two longer-term concerns are rising in analyst notes. First, customer concentration: Arista's two largest hyperscaler customers have historically represented over 40% of revenue combined, making the stock acutely sensitive to any shift in their AI capex timing. Second, gross margin trajectory. Non-GAAP gross margins of around 62–63% represent a step down from the 64–65% levels of mid-2025, driven by AI cluster mix — large customers negotiating from scale tend to compress margins. The Q2 operating margin guide of 46–47% implies this pressure is not yet abating.

## The Longer-Term Case Remains Intact

None of this changes Arista's structural positioning. The company is the dominant Ethernet networking vendor for AI infrastructure, with a purpose-built software stack (EOS), a growing campus and routing footprint, and a product roadmap — XPO, the 7800 AI spine, cognitive campus — that addresses the next generation of AI data center architecture. Full-year 2026 AI networking revenue is now targeted at $3.25 billion. The NPS of 89 is not the kind of number a company under competitive siege produces.

Today's after-hours drop is a valuation recalibration, not a fundamental verdict. But for investors who bought Arista as a "can't miss" AI trade, tonight is a reminder that at 50x earnings, every quarter has to be perfect — and in-line is not perfect.

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European Investor 05-05-26

Arista Networks announced a multi-source agreement for XPO, a new liquid-cooled pluggable optics module designed for AI data center networking.

The XPO module delivers 12.8 Tbps capacity per unit and supports rack densities of up to 204.8 Tbps per open compute rack unit, about four times higher than current 1600G-OSFP optics. The design includes an integrated cold plate capable of cooling up to 400 watts per module, enabling higher performance in AI workloads that require liquid-cooled infrastructure.

The module supports multiple optical standards including DR, FR, LR, SR and ZR/ZR+, along with next-generation interface architectures such as linear, half-retimed and fully-retimed designs. It is intended for AI networking environments including scale-up, scale-out and metro-reach data center fabrics.

Arista said the XPO specification will be demonstrated at the Optical Fiber Communication Conference (OFC) 2026 in Los Angeles with support from multiple optical module suppliers. Industry participants including Microsoft and market research firm Dell’Oro Group said the technology could help support the growing bandwidth demands of large AI clusters.
Business Wire

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European Investor 03-12-26

Arista Networks, Inc (NYSE: ANET) will release its financial results for the quarter ended December 31st, 2025, after U.S. markets close on Thursday, February 12th, 2026.

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Global Finance News 01-18-26

Fortinet and Arista Networks Launch Joint Secure AI Data Center Solution

Fortinet and Arista Networks announced a joint Secure AI Data Center solution designed to combine high-performance, low-latency networking with integrated, zero-trust security for large-scale AI workloads. The solution has been deployed at Monolithic Power Systems and provides a validated, scalable reference architecture for organizations building and operating AI data centers.

The joint architecture integrates Arista’s ultra-low-latency networking and load balancing with Fortinet’s ASIC-accelerated security, including encrypted traffic inspection, zero-trust segmentation, and AI-aware threat protection. According to the companies, the design enables faster deployment through zero-touch provisioning, supports next-generation AI accelerators, and improves AI performance by offloading HTTPS and TLS processing from server CPUs.

The collaboration aims to address key barriers to AI adoption such as infrastructure complexity, performance bottlenecks, vendor lock-in, and security risks including data leakage and model tampering. By offering a modular, multivendor blueprint with unified management across networking and security, the companies say organizations can scale AI infrastructure with lower cost, reduced operational risk, and higher resilience.

Source: GlobeNewswire

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WS Investor 12-20-25

Arista Networks (NYSE: ANET) unveiled major enhancements to its Cognitive Campus portfolio, introducing Arista VESPA, an architecture designed to support massive-scale Wi-Fi mobility with roaming domains exceeding 500,000 clients. The technology brings data center–grade scalability to campus networks, eliminating the complexity of traditional controller-based systems. Arizona State University, one of the largest public universities in the U.S., has partnered with Arista to validate the new VESPA architecture.

Arista also expanded its AVA agentic AI platform, which unifies AI-driven networking operations across wired, wireless, data center, and security domains. AVA leverages Arista EOS and the NetDL data lake to enable autonomous event correlation, conversational troubleshooting, continuous monitoring, and automated root cause analysis.

To support industrial and outdoor deployments, Arista introduced two ruggedized switches—the 710HXP-28TXH and 710HXP-20TNH—engineered to withstand extreme environments while powering next-generation devices such as Wi-Fi 7 access points and high-power outdoor security systems.

All new software features and hardware platforms are expected to be generally available in Q1 2026.

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European Investor 12-10-25

Arista Networks Posts Strong Q3 Results With 27.5% Revenue Growth and Higher Profitability

Arista Networks reported a robust third quarter, delivering $2.308 billion in revenue, up 27.5% from a year earlier and 4.7% sequentially, driven by continued demand across AI, cloud, and campus networking. GAAP net income rose to $853 million, while non-GAAP earnings reached $962.3 million, reflecting 25% EPS growth as the company maintained strong gross margins above 65%. CEO Jayshree Ullal said Arista’s “centers of data” strategy continues to resonate with customers seeking scalable client-to-cloud and AI networking solutions.

The quarter also featured several strategic initiatives, including the appointment of Kenneth Duda as President and CTO, new leadership for cloud and AI networking, and expanded collaboration on Ethernet for Scale-Up Networks unveiled at the OCP Summit. Arista also introduced AI-driven agents to automate network operations and a new observability blueprint for modern AI workloads via CloudVision AI.

Looking ahead to Q4, Arista expects revenue between $2.3 billion and $2.4 billion, with non-GAAP gross margins of 62–63% and operating margins of 47–48%, signaling confidence in sustained demand and disciplined execution.

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European Investor 12-04-25

Arista Networks Launches R4 Series for Next-Generation Data and AI Centers

Arista Networks (NYSE: ANET) unveiled its new R4 Series platforms designed to power large-scale data and AI centers with 800G performance, enhanced efficiency, and integrated security. The portfolio includes the modular 7800R4, fixed 7280R4, and new 7020R4 leaf switches—together enabling scalable, low-latency networking for AI, data center, and routed backbone environments. The systems feature 3.2 Tbps HyperPorts, offering up to 44% faster AI job completion times, and support encryption technologies such as MACsec, IPsec, and VXLANsec through Arista’s TunnelSec suite. Shipping has begun for the 7800R4 and 7280R4 platforms, with additional models arriving in early 2026.

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The Investor 10-29-25

Beyond Nvidia: 5 US Tech Stocks Fuelling the AI Revolution - The Smart Investor

Discover five high-growth US tech stocks that could be your next big winners.

(thesmartinvestor.com.sg)

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Global Finance News 07-31-25

08-05-26The Investor

05-22-26European Investor

04-13-26European Investor

NASDAQ:BKNG

## Booking Holdings Stock Jumps 5% After Strong Q2 Results as Travel Demand Remains Resilient

Booking Holdings (NASDAQ: BKNG) shares climbed 5% after-hours on Tuesday after the online travel company reported strong second-quarter results, driven by resilient global travel demand, higher bookings, and improved profitability despite ongoing geopolitical and macroeconomic uncertainty.

Second-quarter gross bookings increased 9% year over year to $51.0 billion, while revenue rose 8% to $7.4 billion. Room nights reached 325 million, up 5% from a year earlier, reflecting continued healthy travel demand across the company's global platform.

Profitability also improved significantly. GAAP net income more than doubled to $2.0 billion, while adjusted net income increased 8%. Adjusted EPS rose 15% to $2.54, and adjusted EBITDA grew 9% to $2.6 billion. Operating cash flow increased 16% to $3.7 billion, with free cash flow also rising 16% to $3.6 billion.

Management highlighted continued strength in domestic travel, while noting that international demand has remained resilient despite geopolitical uncertainty. Alternative accommodation room nights increased 4%, and average daily rates also improved during the quarter.

The company also increased the expected annual run-rate savings from its Transformation Program to approximately $650 million by the end of 2027, providing additional flexibility to invest in future growth initiatives while improving operating efficiency.

Booking Holdings continued returning capital to shareholders by repurchasing $3.7 billion of stock during the quarter and announcing a quarterly dividend of $0.42 per share.

Looking ahead, management expects third-quarter room night growth of 3% to 5%, gross bookings growth of 4% to 6%, revenue growth of 4% to 6%, and low- to mid-teens adjusted EPS growth. While the company continues to monitor geopolitical tensions in the Middle East and their potential impact on international travel, it said overall travel demand has remained resilient entering the third quarter.

Investors welcomed the combination of steady travel demand, expanding profitability, robust cash generation, an improved cost-saving outlook, and continued shareholder returns, reinforcing confidence that Booking Holdings remains well positioned despite an uncertain macroeconomic backdrop.

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WS Investor 08-04-26

Booking Holdings shares fall in futures despite strong Q1 results on cautious outlook

Shares of Booking Holdings Inc. (BKNG) moved lower [165.70, (-4.40%)] in after-hours and futures trading, as investors focused on a cautious outlook and geopolitical risks despite strong first-quarter results.

The Booking Holdings Inc. reported solid Q1 2026 performance, with revenue rising 16% to $5.5 billion and gross bookings increasing 15% to $53.8 billion. Room nights grew 6% to 338 million, although growth was negatively impacted by the Middle East conflict.

Profitability was a key highlight. Net income surged 225% to $1.1 billion, while adjusted EBITDA rose 19% to $1.3 billion, reflecting strong operational execution and margin improvement.

However, the market reaction was negative. According to MarketWatch, Yahoo Finance, and Barron's, the stock declined in futures trading as investors focused on slower expected growth and ongoing geopolitical uncertainty.

The company guided for Q2 revenue growth of 4%–6%, with room night growth of only 2%–4%, indicating a moderation from the strong Q1 pace. Management also highlighted continued disruption from the Middle East conflict and broader uncertainty in global travel demand.

Overall, the share price decline reflects a classic market reaction where strong current results are overshadowed by cautious forward guidance and macro risks, particularly geopolitical tensions affecting travel demand.

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WS Investor 04-29-26

Booking Holdings to Make First Quarter 2026 Earnings Press Release Available on April 28

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The Investor 04-27-26

Booking Holdings will post its first quarter results at 4:00 p.m. ET on Tuesday, April 28.

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European Investor 03-31-26

Fourth quarter and full year 2025 financial results for Booking Holdings (NASDAQ: BKNG) will be released at 4:00 p.m. ET on February 18

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The Investor 02-17-26

Booking Holdings announced that Brigit Zimmerman has been appointed Chief Executive Officer of Priceline, effective January 1, 2026. She succeeds Brett Keller, who will retire after 26 years with the company and continue as Special Advisor to the CEO until May 2026.

Zimmerman, currently Priceline’s Chief Commercial Officer, has been with the company since 2013, overseeing key business segments including hotels, flights, and packages. Prior to joining Priceline, she held leadership roles at United Airlines and holds an MBA from Indiana University’s Kelley School of Business.

Booking Holdings CEO Glenn Fogel praised Keller’s leadership and credited Zimmerman with helping drive Priceline’s strategic growth and innovation. Zimmerman said she is honored to lead the company into its next chapter, focusing on making travel more accessible and affordable through technology and innovation.

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Global Finance News 11-12-25

Booking 3Q Results

Booking Holdings to Make Third Quarter 2025 Earnings Press Release Available on Company's Investor Relations Website on October 28

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The Investor 10-27-25

Booking Holdings (NASDAQ: BKNG) announced today that it intends to hold a conference call to discuss its third quarter 2025 financial results on Tuesday, October 28 at 4:30 p.m. ET.

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WS Investor 09-30-25

Second quarter 2025 financial results for Booking Holdings (NASDAQ: BKNG) will be made available at approximately 4:00 p.m. ET on July 29 through a press release posted to the company's Investor Relations website: http://ir.bookingholdings.com.

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The Investor 07-28-25

Booking Holdings (NASDAQ: BKNG) announced today that it intends to hold a conference call to discuss its second quarter 2025 financial results on Tuesday, July 29 at 4:30 p.m. ET.

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WS Investor 07-01-25

08-05-26The Investor

08-04-26WS News

12-05-25WS Investor

10-10-25The Investor

S&P 500

S&P 500 Trades Lower as Communication Services Weigh on Market

U.S. stocks traded mixed on Wednesday, with the S&P 500 slipping 0.1% in early afternoon trading as weakness in Communication Services and Energy offset gains in Materials, Health Care, and Technology.

The market initially moved lower before recovering part of its losses, as investors continued digesting a busy day of corporate earnings alongside mixed economic data. Earlier in the session, stronger-than-expected S&P Global PMI readings highlighted resilient business activity, while a weaker ADP employment report pointed to a slowing labor market.

Communication Services was the weakest-performing sector, falling more than 3%, likely pressured by post-earnings declines in major media and internet companies. Energy also lagged, down 1.4%, as lower oil prices weighed on the sector.

On the positive side, Materials led the market with a 1.4% gain, followed by Health Care, which rose 1.2% as several pharmaceutical companies posted strong quarterly results. Information Technology also remained in positive territory, supported by continued strength in AI-related companies and solid earnings reports.

Despite the S&P 500 trading slightly lower, market breadth remained relatively balanced as investors rotated into defensive sectors such as Health Care while selectively buying companies that delivered strong earnings and optimistic guidance.

With earnings season in full swing, investors will continue watching corporate results and upcoming labor market data for further clues on the strength of the U.S. economy and the Federal Reserve's interest-rate outlook.

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The Investor 08-05-26

The major U.S. stock indexes traded higher on Wednesday, supported by stronger-than-expected S&P Global PMI data despite earlier concerns following a weak ADP employment report. Investors welcomed signs that business activity accelerated in July, helping offset worries about slowing private-sector hiring.

* S&P 500: 7,759.96 (+0.30%)
* Dow Jones Industrial Average: 54,672.16 (+1.08%)
* Nasdaq Composite: 26,622.67 (+0.14%)

The session was shaped by mixed economic signals. The ADP Employment Report showed private payrolls increased by just 44,000 in July, well below the consensus estimate of 68,000, initially fueling expectations that the labor market is losing momentum. However, sentiment improved after the S&P Global Services PMI climbed to 54.6 and the Composite PMI rose to 54.5, both comfortably above expectations and marking a sharp acceleration from June.

The stronger PMI readings suggested that U.S. businesses continued to expand at a healthy pace, indicating that economic growth remains resilient even as hiring slows. The data also reinforced expectations that consumer and corporate demand have remained solid during the third quarter.

The Dow Jones outperformed the broader market, while the technology-heavy Nasdaq posted only modest gains as investors balanced stronger economic growth against the possibility that the Federal Reserve may not rush to cut interest rates if economic activity remains robust.

Markets are now turning their attention to Friday's official U.S. Nonfarm Payrolls report, which will be closely watched for confirmation of whether the labor market is genuinely cooling or whether the weak ADP reading was an outlier. The employment data is expected to play a key role in shaping expectations for the Federal Reserve's next policy decision.

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The Investor 08-05-26

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European Investor 08-04-26

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The Investor 07-31-26

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WS Investor 07-30-26

US Markets Mixed on Tuesday as Dow Climbs While Tech Stocks Weigh on Nasdaq

U.S. stocks traded mixed on Tuesday, with investors rotating away from technology shares while buying more defensive and cyclical names. The Dow Jones Industrial Average outperformed the broader market, gaining 0.68%, while the S&P 500 slipped 0.20%. The Nasdaq Composite lagged, falling 1.05% as weakness in large-cap technology stocks pressured the index.

The divergence between the major indexes suggests investors are becoming more selective following the strong rally in AI and semiconductor stocks over recent months. Profit-taking in technology names weighed on the Nasdaq, while strength in industrial, financial, healthcare, and other value-oriented sectors helped lift the Dow into positive territory.

Technology remained the primary drag on the broader market, with investors trimming exposure ahead of another busy stretch of corporate earnings. Several AI-related and semiconductor companies have reported strong results, but elevated valuations continue to leave little room for disappointment, leading to increased volatility across the sector.

Meanwhile, the Dow’s advance reflected continued interest in companies with more stable earnings profiles. Investors appeared willing to rotate into sectors viewed as less sensitive to lofty growth expectations while still maintaining exposure to the broader U.S. economy.

The mixed session also comes as markets continue to digest the latest earnings releases and assess the outlook for corporate profits through the remainder of 2026. With many companies either raising or reaffirming guidance, stock-specific reactions have become a more important driver than broader macroeconomic themes.

Looking ahead, investors will remain focused on upcoming earnings reports from major technology companies, additional economic data, and any signals that could influence expectations for Federal Reserve policy. Whether the recent rotation away from high-growth technology stocks continues will likely determine the near-term direction of both the Nasdaq and the broader market.

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WS News 07-28-26

S&P 500 Sector Performance Today: Communication Services Lead While Technology and Energy Weigh on the Market

The S&P 500 traded little changed on Monday, edging up just 0.02% in early afternoon trading as investors rotated between sectors ahead of a busy week featuring the Federal Reserve's policy decision, major technology earnings, and key U.S. economic data. Broader market sentiment was supported by easing geopolitical tensions following the pause in hostilities between the U.S. and Iran, although weakness in semiconductors and energy stocks limited gains.

Communication Services emerged as the market's strongest-performing sector, gaining 2.06%. The advance was driven by strength in large-cap names such as Alphabet, while investors also positioned ahead of this week's earnings from several technology and internet giants. Consumer Staples followed with a 1.29% gain, reflecting continued demand for defensive stocks, while Financials (+0.88%) and Health Care (+0.87%) also outperformed as investors favored companies reporting solid quarterly earnings.

Consumer Discretionary added 0.75%, supported by improving risk appetite and lower oil prices, which tend to benefit retailers, travel companies, and other consumer-focused businesses. Materials posted a modest 0.20% gain as commodity markets remained relatively stable.

On the downside, Information Technology was the weakest major sector, falling 1.09%. The decline was largely driven by renewed selling pressure in semiconductor stocks following concerns over China's rapidly advancing domestic chip industry and the blockbuster debut of memory chipmaker CXMT. Nvidia, AMD, ASML and several other chip-related companies remained under pressure despite broader market resilience.

Energy shares dropped 1.61%, making the sector the second-worst performer of the day. The decline followed a sharp fall in crude oil prices after the U.S. and Iran paused hostilities, easing concerns over potential supply disruptions in the Middle East. Lower oil prices weighed on major oil producers while boosting sectors that benefit from reduced fuel costs.

Overall, today's sector performance highlights a market that remains balanced between optimism over easing geopolitical risks and caution surrounding the technology sector. Investors are now turning their attention to this week's Federal Reserve meeting and earnings reports from several mega-cap technology companies, which are likely to determine the market's direction over the coming days.

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European Investor 07-27-26

U.S. Stock Futures Advance as Earnings Optimism and Middle East De-escalation Lift Sentiment

U.S. stock futures traded higher as investors looked ahead to another busy week of corporate earnings while welcoming signs of easing geopolitical tensions in the Middle East.

Nasdaq futures led the gains, rising 1.19%, while S&P 500 futures added 0.63% and Dow futures advanced 0.48%. The stronger performance in Nasdaq futures reflected continued optimism toward technology and artificial intelligence-related stocks.

Investor sentiment has been supported by a strong start to the second-quarter earnings season. Major U.S. banks, including JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo, reported better-than-expected quarterly results, highlighting resilient consumer activity, robust investment banking fees, and strong trading revenue despite a mixed macroeconomic backdrop.

Markets also continue to benefit from last week’s softer-than-expected U.S. inflation data, which strengthened expectations that the Federal Reserve could begin lowering interest rates later this year. Lower borrowing costs would likely provide additional support for equity valuations, particularly in growth-oriented sectors.

Geopolitical developments also remain in focus. Investor sentiment improved after the United States halted its military attacks on Iran, reducing concerns that the conflict could escalate into a broader regional confrontation. The de-escalation has helped ease fears over global energy supplies, contributing to a pullback in oil prices from last week’s highs and supporting broader risk appetite.

As U.S. cash markets prepare to reopen later on Monday, investors will closely monitor another wave of corporate earnings, particularly from technology and industrial companies, along with any new developments on U.S. trade policy, Federal Reserve expectations, and geopolitical events that could influence market direction.

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WS News 07-27-26

U.S. Stocks Mixed as Softer Inflation Boosts Tech While Dow Lags

U.S. stocks traded mixed in early trading on Tuesday as investors reacted to a softer-than-expected June inflation report that strengthened expectations for Federal Reserve interest rate cuts.

The Nasdaq gained about 0.8%, supported by technology and growth stocks that typically benefit from lower interest rates. The S&P 500 also moved modestly higher, while the Dow Jones Industrial Average slipped slightly as investors rotated away from some defensive and value-oriented sectors.

Markets welcomed the June CPI report, which showed headline inflation fell 0.4% month over month, while annual inflation slowed to 3.5%. Core inflation also came in below expectations, with monthly core CPI unchanged and annual core inflation easing to 2.6%. The weaker inflation data reinforced expectations that the Federal Reserve could begin easing monetary policy sooner than previously anticipated.

Technology stocks led gains across the broader market as lower interest rate expectations improved the outlook for high-growth companies. Investors also continued to monitor corporate earnings season, with company-specific results driving notable moves across individual stocks.

Meanwhile, geopolitical developments remained in focus. Recent tensions between the United States and Iran continue to be monitored by investors, particularly after the exchange of military strikes over the past week. Although markets have largely shifted their attention back toward economic data and earnings, any renewed escalation could quickly affect risk sentiment and commodity prices.

Investors will continue watching upcoming economic releases, Federal Reserve commentary, and second-quarter earnings reports for further direction as markets assess the outlook for interest rates and corporate profitability.

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WS News 07-14-26

Earnings season is about to kick off — 2 charts reveal how it may go

Wall Street is expecting a tranquil earnings season.

(finance.yahoo.com)

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WS Investor 07-13-26

08-05-26The Investor

08-04-26European Investor

07-31-26The Investor

07-28-26WS News

NASDAQ:GILD

Gilead Stock Slips Despite Strong Core Business Growth as Acquisition Charges Weigh on Earnings

Gilead Sciences (NASDAQ: GILD) shares slipped about 1% on Tuesday despite reporting solid second-quarter revenue growth, as large acquisition-related charges resulted in a quarterly loss.

Second-quarter revenue increased 10% year over year to $7.8 billion, while product sales excluding COVID-19 treatment Veklury rose 10% to $7.6 billion, highlighting continued strength across Gilead's core business. However, the company reported a GAAP loss of $8.45 per share and a non-GAAP loss of $6.75 per share, largely reflecting approximately $9.08 per share of acquired in-process R&D and related tax expenses tied to the acquisitions of Arcellx, Tubulis, and Ouro Medicines.

The HIV franchise remained the company's primary growth engine. HIV product sales increased 12% to $5.7 billion, led by Biktarvy, whose sales rose 7% to $3.8 billion, while Descovy surged 48% as demand and pricing improved. Oncology drug Trodelvy also delivered strong momentum, with sales climbing 26%, and liver disease treatment Livdelzi continued to contribute to growth.

The quarter also included three FDA approvals and three positive Phase 3 clinical updates, further strengthening Gilead's development pipeline. Meanwhile, COVID-19 antiviral Veklury sales fell 81% as pandemic-related hospitalizations continued to normalize, while the cell therapy business faced ongoing competitive pressure.

Looking ahead, Gilead raised its full-year 2026 guidance for product sales excluding Veklury to $29.8 billion-$30.1 billion, reflecting confidence in continued momentum across its HIV and oncology portfolios. The company also expects Veklury sales to decline further to approximately $300 million for the year.

While investors welcomed the strong underlying revenue growth and improving outlook for Gilead's core business, the stock came under modest pressure as the headline earnings figures were heavily impacted by substantial acquisition-related charges associated with expanding the company's long-term pipeline.

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WS Investor 08-04-26

Gilead Sciences (GILD) Shares Climb After HSBC Sets $155 Price Target

Gilead Sciences (NASDAQ: GILD) gained 4.2% on Thursday and added another 1.3% in premarket trading on Monday after HSBC initiated coverage on the biopharmaceutical company with a *$155 price target*.

The new price target came as Gilead shares extended their recent rally, reflecting continued investor optimism toward the company's growth prospects across its HIV, oncology, and liver disease portfolios.

The $155 target implies additional upside from Thursday's closing price, suggesting HSBC sees room for further appreciation despite the stock's recent gains. While the rating summary did not disclose the firm's detailed investment thesis, the initiation highlights growing institutional interest in Gilead.

Investor sentiment has also been supported by the company's diversified portfolio, strong cash generation, and continued investment in innovative therapies. Gilead remains focused on expanding its oncology business while maintaining its leadership position in HIV treatments, two areas viewed as key long-term growth drivers.

The combination of Thursday's strong rally and HSBC's new price target kept Gilead in focus as investors continued to favor large-cap pharmaceutical companies with stable earnings and attractive growth opportunities.

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European Investor 07-06-26

# Gilead Edges Lower After Hours as Acquisition Charges Swamp Strong Operating Quarter

Foster City, May 7, 2026 — Shares in Gilead Sciences slipped roughly 1% in after-hours trading yesterday after the biopharmaceutical company reported a solid first quarter operationally but issued full-year EPS guidance that alarmed investors at first glance — a dramatic reduction driven almost entirely by the accounting cost of three major acquisitions rather than any deterioration in the underlying business.

The operating results were genuinely strong. Total revenues grew 4% to $7.0 billion, with base business product sales excluding Veklury up 8% to $6.8 billion. HIV remains the engine, with HIV product sales growing 10% to $5.0 billion. Biktarvy, the company's flagship HIV treatment, rose 7% to $3.4 billion, and Descovy surged 38% to $807 million. Trodelvy, the oncology antibody-drug conjugate, grew 37% to $402 million, reflecting strengthening demand. Non-GAAP diluted EPS improved to $2.03 from $1.81 a year ago, and product gross margin expanded to 87.5% on a non-GAAP basis. Full-year product sales guidance was raised to $30.0 to $30.4 billion from the prior range.

The jolt came from the updated EPS guidance. Full-year non-GAAP diluted EPS was cut to a loss of $0.65 to $1.05, compared to prior guidance of $8.45 to $8.85 — a swing of roughly $9.50 per share. The reason is entirely attributable to $11.5 billion in anticipated acquired in-process R&D charges from the company's acquisition spree: the completed $7.8 billion purchase of Arcellx, the pending acquisition of Ouro Medicines for autoimmune treatments, and the pending Tubulis deal for next-generation antibody-drug conjugates. These are non-cash accounting charges that hit the income statement at closing but represent strategic investments in future pipeline assets rather than operational losses.

Investors familiar with biotech acquisition accounting will recognize the pattern, but the headline EPS reversal is jarring enough to explain the modest after-hours dip as others digest what is actually a strong underlying quarter.

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WS Investor 05-08-26

Gilead Sciences announced it has completed its acquisition of Arcellx Inc. in a deal valued at approximately $7.8 billion, strengthening its oncology portfolio.

The transaction gives Gilead full control of anitocabtagene autoleucel (anito-cel), an investigational CAR T-cell therapy for multiple myeloma, allowing the company to streamline development and maximize long-term value by eliminating profit-sharing and royalty obligations.

Gilead said the deal is expected to be dilutive to earnings in 2026 and 2027 but accretive from 2028 onward, subject to regulatory approval of the therapy. Arcellx will now operate as a wholly owned subsidiary of Gilead.

Source: Gilead Sciences press release, Business Wire

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The Investor 04-28-26

Gilead Sciences to Release First Quarter 2026 Financial Results on Thursday, May 7, 2026

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The Investor 04-24-26

Gilead Sciences announced that it has secured all required regulatory approvals for its acquisition of Arcellx, clearing a key hurdle toward completing the transaction.

The approval process concluded after clearance from the Australian Competition and Consumer Commission, with the final waiting period set to expire on April 27, 2026. The company also confirmed that other international regulatory reviews have been completed, meaning all approval conditions will be satisfied once the waiting period ends.

Gilead has extended its tender offer for Arcellx shares to April 27, maintaining the offer at $115 per share in cash plus a contingent value right tied to future sales milestones of its lead therapy. As of mid-April, approximately 17.5% of shares had been tendered.

The deal remains subject to customary closing conditions, including majority shareholder participation, but positions Gilead to strengthen its oncology pipeline and expand its capabilities in cell therapy as it moves closer to completing the acquisition.
Business Wire

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European Investor 04-18-26

Gilead Sciences Inc. announced expanded global investment in its HIV prevention drug lenacapavir, with support from PEPFAR and The Global Fund to increase access in high-risk, low-resource regions.

The additional commitment aims to provide lenacapavir to up to 1 million more people over the next three years, bringing the total target to 3 million individuals by 2028. The twice-yearly injectable treatment is considered a major breakthrough in HIV prevention and is already being distributed in regions such as sub-Saharan Africa.

Gilead stated it will supply the drug at no profit to these global health programs in the near term, while preparing for a broader rollout through generic manufacturing starting in 2027. The initiative is supported by partnerships with multiple generic drug producers to expand long-term affordability and accessibility.

The move comes as global health organizations continue efforts to reduce the approximately 1.3 million new HIV infections each year, with long-acting prevention therapies seen as a key tool in combating the epidemic.
Business Wire

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WS Investor 04-14-26

Gilead Sciences, Inc. announced it will acquire Tubulis GmbH in a deal valued at up to $5 billion, strengthening its oncology pipeline.

The transaction includes $3.15 billion in upfront cash and up to $1.85 billion in milestone payments. Tubulis brings a next-generation antibody-drug conjugate (ADC) platform and clinical-stage assets, including TUB-040, currently in development for ovarian and lung cancers.

Gilead said the acquisition will enhance its capabilities in targeted cancer therapies by adding advanced ADC technologies designed to improve drug delivery and treatment outcomes.

The deal is expected to close in the second quarter of 2026, subject to regulatory approvals, with Tubulis to operate as a dedicated research unit within Gilead.
Business Wire

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WS Investor 04-07-26

Gilead Sciences announced it has extended its tender offer to acquire Arcellx, pushing the deadline to April 24, 2026.

The offer remains at $115 per share in cash plus a contingent value right (CVR) that could provide an additional $5 per share if future sales milestones are met. As of March 31, about 7.5% of Arcellx shares had been tendered.

The acquisition is expected to close in the second quarter of 2026, subject to regulatory approvals and other customary conditions, including majority shareholder participation.

Gilead said the extension allows additional time for shareholders to participate as it continues efforts to complete the transaction and strengthen its oncology pipeline.
Business Wire

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Global Finance News 04-03-26

Galapagos NV has entered into a binding agreement with Gilead Sciences to collaborate on advancing a first-in-class T cell engager program for autoimmune diseases, centered on the drug candidate gamgertamig.

The agreement is linked to Gilead’s planned $1.675 billion acquisition of Ouro Medicines, with additional milestone payments of up to $500 million. Under the deal, Galapagos will fund 50% of the upfront and milestone costs while gaining access to key intellectual property and operational assets, including Ouro’s research platform.

Gamgertamig, currently in Phase 1/2 studies, has shown strong early efficacy and safety in severe autoimmune conditions such as autoimmune hemolytic anemia and immune thrombocytopenia, and could enter late-stage trials as early as 2027.

The collaboration also provides Galapagos with greater financial flexibility, including control over at least $500 million in cash for independent strategic initiatives and potential shareholder returns. Gilead will lead global commercialization, paying tiered royalties to Galapagos upon market launch.

The companies said the partnership aims to accelerate development of innovative immune therapies targeting high unmet medical needs.

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The Investor 03-31-26

NYSE:UBER

Uber (UBER) Stock Falls 6% Despite Strong Q2 Earnings and Record Cash Flow

Uber Technologies (NYSE: UBER) shares fell around 6% on Wednesday despite reporting another quarter of strong growth in bookings, earnings, and cash flow. While the ride-hailing and delivery giant delivered solid financial results and maintained healthy guidance for the third quarter, investors appeared disappointed that revenue growth was slower than bookings growth and that the outlook did not include a significant upside surprise.

Gross Bookings Reach a New High

Uber delivered another quarter of robust operating performance, with growth across all of its major business segments.

Key second-quarter results included:

* Gross Bookings: $58.0 billion (+24% year over year; +22% constant currency)
* Revenue: $14.2 billion (+12%)
* Trips: 3.87 billion (+18%)
* Monthly Active Platform Consumers: 208 million (+16%)
* Adjusted EBITDA: $2.82 billion (+33%)
* Non-GAAP Operating Income: $2.14 billion (+40%)
* Non-GAAP EPS: $0.81 (+35%)
* Free cash flow: $2.79 billion (+13%)

The company also reported GAAP operating income of $1.9 billion and GAAP diluted EPS of $1.17, supported in part by a $1.6 billion pre-tax gain from the revaluation of its equity investments.

Delivery and Freight Continue to Lead Growth

Uber's Delivery segment remained one of the company's strongest performers.

Delivery revenue increased 28%, while Gross Bookings climbed 26%. Freight also posted solid results, with both revenue and Gross Bookings rising 25%.

Meanwhile, Mobility Gross Bookings increased 22%, reflecting continued healthy demand for ride-hailing services. However, Mobility revenue rose just 1%, largely due to business model changes that affected reported revenue growth despite higher customer activity.

Management noted that these changes reduced overall reported revenue growth by approximately eight percentage points during the quarter.

Profitability Continues to Improve

Uber continued to demonstrate strong operating leverage.

Adjusted EBITDA increased 33% to $2.82 billion, while Non-GAAP Operating Income climbed 40% to $2.14 billion. The company also generated $2.79 billion in free cash flow during the quarter, pushing trailing twelve-month free cash flow above $10 billion for the first time in its history.

CEO Dara Khosrowshahi highlighted Uber's expanding ecosystem, noting that the company added more first-time users over the past twelve months than during any comparable period in the past five years. He also emphasized Uber's long-term strategy of building the world's largest platform for autonomous vehicles.

Third-Quarter Outlook Remains Strong

For the third quarter of 2026, Uber expects:

* Gross Bookings between $58.25 billion and $60.25 billion, representing constant-currency growth of 18% to 22%.
* Non-GAAP EPS between $0.84 and $0.88.
* Adjusted EBITDA between $2.86 billion and $2.96 billion.

The guidance points to another quarter of strong profitability and continued demand across Uber's platform.

Why the Stock Fell

Despite reporting impressive growth across most operating metrics, investors appeared disappointed by the company's 12% reported revenue growth, which lagged the 24% increase in Gross Bookings. Although management explained that business model changes reduced reported revenue growth by roughly eight percentage points, the market may have been hoping for stronger top-line acceleration.

In addition, Uber's third-quarter guidance was broadly in line with expectations rather than significantly above them. After a series of consistently strong quarterly reports, investors may have viewed the latest results as solid but lacking a meaningful positive surprise, leading to profit-taking following the earnings release.

Wednesday's results demonstrated that Uber continues to generate strong growth across mobility, delivery, and freight while expanding profitability and producing record levels of cash flow.

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The Investor 08-05-26

Uber Surges 7% as Platform Growth Accelerates and Earnings Scale at Twice the Topline Rate

May 6, 2026 · Earnings Report

Uber Technologies jumped 7% today after reporting a first quarter that demonstrated the company's growing grip on daily consumer life, with trips, bookings, and earnings all expanding at a pace that comfortably exceeded expectations.

Gross bookings grew 25% year-over-year to $53.7 billion, or 21% on a constant currency basis, marking the third consecutive quarter of growth exceeding 21%. Trips grew 20% to 3.6 billion, driven by monthly active platform consumers rising 17% to 199 million. Revenue came in at $13.2 billion, up 14% year-over-year, though the headline figure was held back by roughly 9 percentage points due to business model changes.

The profitability story was arguably more impressive than the top line. GAAP income from operations surged 57% to $1.9 billion, non-GAAP operating income grew 42% to $1.9 billion, and adjusted EBITDA rose 33% to $2.5 billion. Non-GAAP EPS jumped 44% to $0.72. GAAP net income came in at just $263 million, significantly below the prior year's $1.78 billion, but that decline was entirely due to a $1.5 billion non-cash headwind from revaluations of Uber's equity investments rather than any operational weakness. Free cash flow was $2.3 billion for the quarter and the company ended March with $6.1 billion in unrestricted cash.

The Delivery segment was the standout growth driver, with gross bookings up 28% to $26.0 billion and revenue surging 34% to $5.1 billion. Mobility gross bookings rose 25% to $26.4 billion. Both segments expanded operating income meaningfully, with Mobility up 28% to $2.0 billion and Delivery up 43% to $961 million. Freight remained a modest drag, posting a small operating loss of $30 million.

A key milestone highlighted by CEO Dara Khosrowshahi was the platform reaching 50 million Uber One members, with subscribers now accounting for half of gross bookings across Mobility and Delivery, underscoring the stickiness and monetization power of the membership model.

"We are off to an exceptional start to 2026, with Gross Bookings growth exceeding 21% for the third consecutive quarter and earnings scaling at more than twice our topline," said CFO Balaji Krishnamurthy.

For the second quarter, Uber guided gross bookings to between $56.25 billion and $57.75 billion, representing 18% to 22% constant currency growth, and non-GAAP EPS of $0.78 to $0.82, implying growth of 31% to 38% year-over-year. Adjusted EBITDA is expected to reach between $2.70 billion and $2.80 billion.

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Global Finance News 05-06-26

Uber Technologies and Block Inc. announced an expanded global partnership aimed at improving restaurant operations and payment options across Uber’s platforms. The collaboration will extend Square’s integration with Uber Eats to multiple international markets, while introducing Cash App Pay as a payment method for Uber and Uber Eats users in the United States.

The partnership is designed to streamline restaurant workflows through integrated ordering systems and enhance customer payment flexibility, including access to millions of Cash App users. The companies said the initiative builds on previous collaborations and reflects a broader effort to connect their ecosystems and support growth for merchants and consumers globally.

Source: Uber

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The Investor 04-24-26

Prosus N.V. announced it has sold a 4.5% stake in Delivery Hero SE to Uber Technologies, Inc. for approximately €270 million.

The transaction involved the sale of 13.6 million shares at €20.00 each, representing a roughly 22% premium to the one-month volume-weighted average price. The deal forms part of Prosus’ commitments to the European Commission following its acquisition of Just Eat Takeaway*com, requiring a reduction in its Delivery Hero stake.

Prosus stated it remains committed to further reducing its shareholding within the agreed timeframe.

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The Investor 04-19-26

Uber Technologies and MOIA America announced plans to deploy autonomous ID. Buzz vehicles on the Uber platform in Los Angeles by the end of 2026.

The partnership has entered the on-road testing phase, with MOIA operating a growing fleet of autonomous vehicles equipped with human safety operators. The companies aim to expand the fleet to over 100 vehicles during testing, with a longer-term goal of scaling to thousands across multiple U.S. cities.

The initiative builds on a strategic collaboration launched in 2025 and leverages MOIA’s autonomous driving technology alongside Uber’s global ride-hailing platform. The ID. Buzz vehicles are designed specifically for autonomous mobility services.

The project marks a significant step toward commercializing driverless ride-hailing, with Los Angeles serving as the initial launch market before broader expansion.

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WS Investor 04-08-26

Uber Technologies, Inc. announced a partnership with Ace Hardware Corporation to expand on-demand delivery of home improvement products across the United States.

More than 3,700 Ace Hardware stores are now available on the Uber Eats platform, allowing customers to order items such as tools, paint, and gardening supplies for immediate or scheduled delivery.

The collaboration reflects Uber Eats’ strategy to broaden its offering beyond food delivery into everyday retail categories, while enabling Ace to enhance convenience and reach through digital channels.

Both companies said the partnership aims to provide faster, more flexible access to home improvement essentials, particularly for urgent or last-minute needs.
Business Wire

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WS Investor 04-07-26

Dubai, March 31, 2026 — WeRide and Uber Technologies launched fully driverless robotaxi operations in Dubai, marking one of the first commercial Level 4 autonomous taxi services without onboard drivers.

The service, now active in Umm Suqeim and Jumeirah, allows users to book autonomous rides through the Uber app. The rollout is supported by Dubai’s Roads and Transport Authority and aligns with the city’s goal of making 25% of all journeys autonomous by 2030.

Following earlier supervised trials, the companies received regulatory approval to expand operations across additional commercial, suburban, and logistics areas. The initiative is part of a broader plan to deploy at least 1,200 robotaxis across key Middle Eastern cities, including Abu Dhabi and Riyadh.

The launch highlights accelerating adoption of autonomous mobility in the region, with both companies emphasizing scalability, safety, and long-term commercialization of driverless transport solutions.
Globe Newswire

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European Investor 03-31-26

Uber Technologies, Inc. announced it will acquire Blacklane as part of its expansion into premium and executive travel.

Blacklane, which operates in more than 500 cities across 60+ countries, specializes in pre-booked chauffeur services and serves corporate and high-end travel customers.

The acquisition supports Uber’s strategy to grow its premium segment, including services like Uber Reserve and Uber Elite, which have seen strong demand for high-quality, scheduled rides.

Uber expects the combination of its global platform and Blacklane’s luxury service expertise to accelerate growth in the chauffeur market and enhance its offering across different customer segments. The deal is subject to regulatory approvals and is expected to close by the end of 2026.
Business Wire

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WS Investor 03-30-26

Uber Technologies, Pony*ai and Verne have announced a partnership to launch Europe’s first commercial robotaxi service, starting in Zagreb.

The service will combine Pony*ai’s autonomous driving technology, Uber’s ride-hailing platform and Verne’s operational framework, with initial on-road testing already underway and preparations for paid rides in progress.

The partners aim to scale the service to thousands of robotaxis over the coming years, expanding to additional European cities and potentially other global markets.

The collaboration marks a significant step toward commercializing autonomous mobility in Europe, as companies move from pilot programs to fully operational ride-hailing services.
Business Wire

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The Investor 03-26-26

Uber and Rivian announced a strategic partnership to deploy up to 50,000 fully autonomous robotaxis over the coming years.

Under the agreement, Uber will invest up to $1.25 billion in Rivian through 2031, with an initial $300 million commitment. The first phase includes the deployment of 10,000 autonomous Rivian R2 vehicles, with initial commercial launches planned in San Francisco and Miami in 2028, expanding to 25 cities across the U.S., Canada, and Europe by 2031.

The robotaxis will operate exclusively on the Uber platform, leveraging Rivian’s vertically integrated approach to vehicle design, software, and AI-powered autonomy systems. The partnership aims to accelerate the development of Level 4 autonomous driving technology and scale a fully driverless ride-hailing network globally.

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Global Finance News 03-19-26

07-27-26WS News

06-29-26European Investor

06-14-26Global Finance News

05-21-26European Investor

US Dividends

National Beverage (FIZZ) Stock Soars After Special Dividend and Fiscal 2026 Results

National Beverage Corp. (NASDAQ: FIZZ) shares surged approximately 13% on Thursday after the company announced a $3.25 per share special cash dividend alongside its fiscal 2026 financial results, boosting investor sentiment despite relatively flat earnings.

The special dividend, payable on or before July 30 to shareholders of record as of July 13, marks the company's thirteenth special cash dividend over the past 22 years. National Beverage said it has returned more than $1.8 billion to shareholders through special dividends during that period.

For fiscal 2026, the maker of LaCroix sparkling water reported net sales of $1.18 billion, compared with $1.20 billion in the prior fiscal year. Net income slipped slightly to $183.6 million from $186.8 million, while diluted earnings per share declined to $1.96 from $1.99.

Despite the modest year-over-year declines, management expressed confidence in the company's outlook, pointing to continued product innovation, a strong balance sheet, and improving market conditions. Cash increased by $156 million during the year to $350 million, providing significant financial flexibility.

The company also highlighted strong momentum from newer LaCroix flavors, including PineApple CocoNut and Strawberry Peach, while noting that easing commodity costs and improving consumer spending trends could support future growth.

# Why FIZZ Stock Rose

Several developments fueled Thursday's rally:

* National Beverage declared a special cash dividend of $3.25 per share.
* The company ended fiscal 2026 with $350 million in cash, up $156 million from the prior year.
* Management expressed confidence in future growth, citing improving market conditions and continued product innovation.
* Investors welcomed the company's long history of returning capital to shareholders through special dividends.

While fiscal 2026 earnings were largely stable compared with the prior year, the sizeable special dividend and upbeat outlook significantly boosted investor sentiment, sending National Beverage shares approximately 13% higher during Thursday's trading session.

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Global Finance News 07-02-26

Paychex, Inc. (Nasdaq: PAYX) has declared a regular quarterly cash dividend on Paychex common stock of $1.19 per share, an increase of $0.11 (or 10%) from the prior quarterly dividend of $1.08 per share, payable on May 29, 2026 to shareholders of record as of May 13, 2026.

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Global Finance News 05-04-26

Kenvue Inc. (NYSE: KVUE) declared a quarterly dividend of $0.2075 per share on its common stock. The quarterly dividend is payable on May 27, 2026, to shareholders of record as of the close of business on May 13, 2026.

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Global Finance News 04-30-26

The Board of Directors of Prologis, Inc. (NYSE: PLD) declared a regular cash dividend for the quarter ending June 30, 2026, on the following securities:

A dividend of $1.07 per share of the company's common stock, payable on June 30, 2026, to common stockholders of record at the close of business on June 16, 2026; and

A dividend of $1.0675 per share of the company's 8.54% Series Q Cumulative Redeemable Preferred Stock, payable on June 30, 2026, to Series Q stockholders of record at the close of business on June 16, 2026.

PRNewswire

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Global Finance News 04-29-26

W.W. Grainger, Inc. (NYSE: GWW) announced a quarterly cash dividend of $2.49 per share, an increase of 10% from the most recent company dividend. The dividend is payable on June 1, 2026, to shareholders of record on May 11, 2026.

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Global Finance News 04-29-26

Corteva, Inc. (NYSE: CTVA) announced a common stock dividend of $0.18 cents per share, payable June 15, 2026, to the Company’s shareholders of record on June 1, 2026.

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The Investor 04-28-26

Williams (NYSE: WMB) approved a regular dividend of $0.525 per share, $2.10 annualized, on the company’s common stock, payable on June 29, 2026, to holders of record at the close of business on June 12, 2026.

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The Investor 04-28-26

Linde plc (Nasdaq: LIN) declared a quarterly dividend of $1.60 per share.

The dividend is payable on June 18, 2026, to shareholders of record on June 4, 2026.

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The Investor 04-27-26

Dividend Growth Stocks: Archer Daniels Midland Company (ADM) Dividend Stock Analysis

Your source for finding the best dividend growth stocks

(dividend-growth-stocks.com)

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WS Investor 04-24-26

L3Harris Technologies (NYSE: LHX) has declared a quarterly cash dividend of $1.25 per common share, payable June 26, 2026, to shareholders of record as of the close of business on June 5, 2026.

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The Investor 04-24-26

08-05-26The Investor

08-04-26European Investor

07-27-26European Investor

07-14-26WS News

NYSE:SHOP

Shopify (SHOP) Stock Soars 18% After Blowout Q2 Earnings and Strong Q3 Outlook

Shopify (NASDAQ: SHOP) shares surged about 18% on Wednesday after the e-commerce platform delivered another exceptional quarter, reporting more than 30% growth across gross merchandise volume (GMV), revenue, gross profit, and free cash flow while issuing an upbeat outlook for the third quarter.

The earnings report added to positive sentiment in U.S. markets, where investors welcomed resilient corporate earnings alongside stronger-than-expected S&P Global PMI data that pointed to continued economic expansion.

Shopify Delivers Another Quarter of 30%+ Growth

Shopify reported second-quarter revenue of $3.58 billion, up 34% year over year, driven by accelerating merchant activity across businesses of all sizes, sales channels, and geographic regions.

Key second-quarter results included:

* Gross Merchandise Volume (GMV): $115.6 billion (+32%)
* Revenue: $3.58 billion (+34%)
* Gross profit: $1.71 billion (+31%)
* Operating income: $488 million (+68%)
* Free cash flow: $654 million (+55%)
* Free cash flow margin: 18%, up from 16% a year earlier
* Monthly Recurring Revenue (MRR): $221 million, up from $185 million

President Harley Finkelstein described the period as a "monster quarter," highlighting that Shopify achieved more than 30% growth in GMV, revenue, gross profit, and free cash flow simultaneously while continuing to expand its AI-powered commerce capabilities.

Operating Leverage Continues to Improve

Beyond strong top-line growth, investors were encouraged by Shopify's improving profitability.

Operating income increased nearly 68% from a year ago as the company continued generating operating leverage while maintaining disciplined spending. Higher free cash flow margins also demonstrated Shopify's ability to convert rapid revenue growth into stronger cash generation.

Management said growth remained broad-based across merchant sizes, international markets, and sales channels, reinforcing confidence that Shopify continues to gain market share despite a challenging macroeconomic environment.

Strong Outlook Boosts Investor Confidence

Shopify also issued an optimistic outlook for the third quarter.

The company expects:

* Revenue growth in the low-30% range year over year.
* Gross profit dollar growth in the mid-to-high 20% range.
* Operating expenses equal to 33% to 34% of revenue.
* Free cash flow margins in the high-teens to low-20% range.

The guidance suggests management expects strong momentum to continue into the second half of the year while maintaining disciplined profitability.

AI Continues to Expand Shopify's Platform

Management emphasized that artificial intelligence remains an important growth driver for the business.

The company said AI is helping merchants automate operations, improve customer engagement, and expand what businesses can accomplish on Shopify's platform. Continued investment in AI capabilities is expected to strengthen Shopify's competitive position as merchants increasingly adopt intelligent commerce tools.

What Investors Are Watching

Wednesday's earnings reinforced Shopify's position as one of the fastest-growing large-cap software companies. Accelerating GMV growth, another quarter of more than 30% revenue expansion, rising profitability, strong cash generation, and an upbeat outlook helped fuel the stock's sharp rally.

Investors will now focus on whether Shopify can sustain its rapid growth through the remainder of 2026, continue expanding margins, capitalize on AI-driven commerce opportunities, and maintain its leadership position in the global e-commerce software market.

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The Investor 08-05-26

Shopify Stock Rises 1.9% Premarket After Jefferies Upgrades Shares to Buy

Shopify (NASDAQ: SHOP) shares gained 1.9% in premarket trading on Thursday after Jefferies upgraded the e-commerce platform provider to *Buy* from *Hold* and set a $160 price target, reflecting increased confidence in the company's long-term growth prospects.

Why Is Shopify Stock Rising Today?

The premarket rally follows Jefferies' bullish analyst action, with the firm arguing that Shopify is well positioned to benefit from continued growth in digital commerce and artificial intelligence-powered shopping tools.

The upgrade from Hold to Buy, along with the new $160 price target, signals that Jefferies sees additional upside in the stock despite Shopify's strong performance over the past month.

AI Commerce and Merchant Growth Support Outlook

Shopify has continued to strengthen its position as one of the world's leading e-commerce platforms by expanding its merchant ecosystem and introducing new AI-powered tools that help businesses automate storefront management, customer engagement, and product discovery.

The company has also been investing in enterprise commerce solutions and international expansion while benefiting from continued growth in gross merchandise volume (GMV). Shopify's focus on AI-driven commerce and merchant productivity has become an increasingly important part of its long-term growth strategy.

What Investors Are Watching Next

Investors will be watching Shopify's upcoming earnings report for updates on revenue growth, merchant additions, GMV trends, and adoption of its AI-powered commerce tools. Continued execution in enterprise solutions and international markets could provide additional catalysts for the stock.

The upgrade from Jefferies reinforces Wall Street's constructive outlook on Shopify, with investors remaining optimistic that continued innovation in AI commerce and expanding merchant adoption will support the company's long-term growth trajectory.

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European Investor 07-13-26

Shopify's Strong Quarter Isn't Enough: Stock Falls 7% as Growth Deceleration Looms

Tuesday, May 5, 2026

Shopify delivered another impressive quarter — and the market punished it anyway. Shares dropped roughly 7.3% to $118.29 following Q1 2026 results that beat on almost every top-line metric, in a classic "sell the news" reaction driven by a softer forward outlook and a messy bottom line.

The Numbers Were Good. Really Good.

Q1 revenue came in at $3.17 billion, up 34% year-over-year and ahead of the analyst consensus of around $3.09 billion. Gross merchandise volume (GMV) — the total value of goods sold through Shopify's platform — surpassed $100 billion for the first time in a single quarter, reaching $100.7 billion versus $74.8 billion a year ago. Monthly recurring revenue rose to $212 million from $182 million. Adjusted operating income of $514 million beat estimates by 9.4%, and free cash flow margins held steady at 15%.

GAAP EPS of $0.45 came in dramatically ahead of the $0.24 consensus — a 90% beat.

So Why Is the Stock Down?

Two things unnerved investors. First, the GAAP net income picture. After investment losses, Shopify swung to a net loss of $581 million, or $0.45 per share — versus analyst expectations of a $0.24 profit. Investment write-downs can be non-cash and non-recurring, but the headline number created noise.

More significantly, the Q2 guidance disappointed. Shopify guided for "high-twenties" revenue growth next quarter — implying a step down from Q1's 34% clip — and the implied operating profit guidance came in below analyst expectations. That deceleration signal was enough to overshadow the Q1 beat. Sell-side analysts now project roughly 25% revenue growth over the next 12 months, a meaningful moderation from the pace of the past two years. For a stock trading at a premium multiple, slower growth means multiple compression.

The Bigger Picture

Shopify entered this print already under pressure — down 21% year-to-date and roughly 33% off its recent highs — weighed by a Q4 miss, tariff-related uncertainty around its merchant base's cross-border commerce exposure, and broader anxiety about AI disruption to its core software business. Tuesday's results didn't fully clear that overhang.

The bull case remains intact: $100 billion quarters, 34% revenue growth, and improving unit economics at Shopify's scale are genuinely rare. The consensus analyst price target sits around $164, implying roughly 27% upside from current levels. But for now, the market is telling Shopify that beating isn't enough — it needs to beat *and* accelerate.

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WS Investor 05-05-26

Shopify reported record-breaking results for the 2025 Black Friday–Cyber Monday weekend, with merchants generating 14.6 billion dollars in sales, a 27 percent increase from 2024. More than 81 million customers purchased from Shopify-powered brands, while peak activity reached 5.1 million dollars in sales per minute at midday on Black Friday. Over 94,900 merchants recorded their best-ever sales day, and more than 15,800 entrepreneurs made their first sale on the platform.

Cosmetics, clothing, activewear, and nutrition products led demand, with an average cart size of 114.70 dollars. The strongest markets were the United States, the United Kingdom, Australia, Germany, and Canada. Cross-border transactions made up 16 percent of orders, and Shop Pay usage grew sharply, accounting for 32 percent of purchases and rising 39 percent year over year.

Shopify said it handled massive traffic volumes across the weekend, including 2.2 trillion edge requests and 90 petabytes of data.

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European Investor 12-02-25

Shopify Delivers Strong Q3 2025 Results with 32% Revenue Growth and Expanding Profitability

Shopify Inc. (NASDAQ, TSX: SHOP) reported outstanding third-quarter 2025 results, achieving 32% year-over-year revenue growth to $2.84 billion and maintaining an 18% free cash flow margin—its ninth consecutive quarter of double-digit free cash flow margins. Gross profit rose 24% to $1.39 billion, and operating income increased to $343 million from $283 million a year earlier.

Gross Merchandise Volume (GMV) surged 32% to $92.0 billion, while Monthly Recurring Revenue (MRR) grew 10% to $193 million. Free cash flow reached $507 million, up from $421 million in Q3 2024.

President Harley Finkelstein highlighted Shopify’s momentum across merchants “from first-time sellers to global icons like Estée Lauder,” emphasizing that the company’s scale and ecosystem continue to drive innovation and market leadership. CFO Jeff Hoffmeister added that Q3 demonstrated “consistent growth and profitability, quarter after quarter,” outperforming even the company’s strong Q2 results.

For the fourth quarter of 2025, Shopify expects revenue growth in the mid-to-high 20s percentage range year-over-year, gross profit growth in the low-to-mid 20s range, operating expenses at 30–31% of revenue, and a free cash flow margin slightly above the third quarter’s 18%.

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WS Investor 11-04-25

Shopify Q1 2025 Results: Strong Growth and Profitability with 27% Revenue Increase, 15% Free Cash Flow Margin

Shopify reported Q1 2025 revenue of $2.36 billion, marking 27% growth year-over-year, driven by a 23% increase in GMV to $74.75 billion. Subscription solutions revenue rose 21% to $620 million, and merchant solutions revenue climbed 29% to $1.74 billion. Gross profit was $1.17 billion, with a 22% increase, while operating income more than doubled to $203 million from $86 million a year ago.

Free cash flow grew to $363 million, representing a 15% margin, its seventh consecutive quarter with double-digit margins. Despite a GAAP net loss of $682 million (mostly due to a $908 million mark-to-market loss on equity investments), net income excluding investment impacts was $226 million, up from $144 million.

For Q2 2025, Shopify expects mid-20% revenue growth, high-teens gross profit growth, and a similar mid-teens free cash flow margin. Operating expenses are expected to be 39–40% of revenue.

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