Earnings ReportsStock Market
TOP Financial Shares Jump 8.5% Despite 19% Revenue Drop and Shift to Loss
Shares of TOP Financial Group climbed 8.5% on Friday, despite reporting decreased revenue and a swing back to losses for the recent quarter. The…
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NASDAQ: TOP
TOP Financial Group
Market data: Aug. 28, 2026 close, ET
Financial data: fiscal Q1 2027 release
Financial data: fiscal Q1 2027 release
Close
$16.73
+8.50% Friday
52-week high
$16.75
Two cents above close
Quarter revenue
$1.08M
-18.8% year over year
Net result
-$113K
Prior year: +$86K
Price momentum versus operating trend
The market move and operating direction diverged. The split-adjusted nominal price should not be read as business growth.
Financial checkpoint
| Metric | Latest | Reference |
|---|---|---|
| Quarter revenue | $1.08M | $1.33M prior year |
| Quarter net result | -$113K | +$86K prior year |
| FY2026 revenue | $4.72M | Total expenses: $5.40M |
| Institutional ownership | 0.26% | Thin professional participation |
| Analyst consensus | Sell | One tracked analyst |
Investor bridge
The shares closed near a 52-week high while revenue contracted and profit turned negative. A durable rerating needs brokerage activity to produce revenue growth faster than compliance and operating costs.
Quarterly revenue decline: 18.8% year over year
Watch list
| Next earnings evidence | Revenue recovery and return to profit |
| Structure | One-for-five reverse split approved July 30 |
| Liquidity | Thin ownership can magnify price moves |
| Coverage | One analyst limits consensus value |
NASDAQ:SOLSNYSE:ESI
Solstice shares soar 12.8% after $500 million buyback announced in place of $14.5 billion merger
New York, August 31, 2026, 06:20 EDT — Solstice stock climbed 12.8% following the company's move to launch a $500 million share buyback programme,…
Solstice Advanced Materials
NASDAQ: SOLS · investor dashboard
Price: August 28, 2026 close · Financials: Q2 2026
Share price
$63.53
+12.76% Friday
Buyback
$500M
About 5% of market value
Canceled merger
$14.5B
No termination fee
Guided P/E
22.3×
$2.85 EPS midpoint
Operating scorecard
| Metric | Q2 | Growth / change | Signal |
|---|---|---|---|
| Net sales | $1.148B | +11% | Broad volume growth |
| Adjusted EBITDA | $290M | +2% | Weak conversion |
| Adjusted EBITDA margin | 25.3% | -218 bp | Turnaround costs |
| Adjusted EPS | $0.88 | +$0.03 vs estimate | Beat |
2026 outlook
| Measure | Guidance | Midpoint |
|---|---|---|
| Sales | $4.125B-$4.185B | $4.155B |
| Adjusted EBITDA | $1.035B-$1.055B | $1.045B |
| Adjusted EPS | $2.75-$2.95 | $2.85 |
| Capital spending | $420M-$440M | $430M |
Refrigerants sales
$850M
+12%
Electronic & specialty
$298M
+8%
Electronic materials
+15%
Semiconductor demand
Nuclear revenue
+27%
Price and volume
Analyst range
Seven published targets average about $79.43, versus Friday's $63.53 close.
Low $70 · Average $79.43 · High $85 · Implied average upside 25%
Investor bridge: shareholders traded merger risk for a buyback worth about 5% of equity. The rerating holds if 11% sales growth produces faster EBITDA and free-cash-flow growth.
Watch: margin recovery, plant-turnaround spending, refrigerant pricing, semiconductor demand and the pace of repurchases.
FintechNASDAQ:PYPL
PayPal Shares Drop 12.7% as 17.4% Margin Challenges Standalone Recovery
SAN JOSE, California, August 31, 2026, 05:54 EDT — PayPal Holdings Inc shares fell 12.7% after reporting an operating margin of 17.4%, raising questions…
PayPal investor dashboard
NASDAQ: PYPL · standalone turnaround after bid withdrawal
Market: Aug. 28, 2026, 16:00 EDT · prepared Aug. 31, 05:54 EDT
Friday close
$53.66
−12.71%
Reported bid
$60.50
12.7% above close
Q2 revenue
$8.68bn
+5% YoY
2026 adjusted EPS
$5.38
≈10.0× price/EPS
Growth versus conversion
Quarter and outlook
| Q2 TPV | $486.4bn |
| Q2 transaction-margin dollars | $3.9bn |
| Adj. operating margin | 17.4% |
| 2026 TM-dollar outlook | ≈$15.6bn |
| Year-end savings target | ≈$400m |
| H2 transformation charges | up to $140m |
Attention drivers
| Driver | Investor read |
|---|---|
| Bid withdrawal | Premium removed |
| Low multiple | Downside support |
| Margin contraction | Execution burden |
| Branded checkout | Share test |
Next test
Third-quarter results must show savings offsetting cloud, fraud and marketing investment. Faster transaction-margin growth would support a rerating; another margin miss could keep PayPal below the abandoned offer price.
Sources: PayPal Q2 2026 results; Reuters reports dated July 28 and August 28, 2026. Company measures include non-GAAP figures.
Artificial IntelligenceEarnings
ServiceNow Shares Gain 4.5% After $1 Billion in AI Contracts Highlight 89x Earnings Multiple
ServiceNow Inc. gained 4.5% on Friday, finishing at $144.71. The increase brought renewed focus to a core software debate: is AI-driven revenue enough to…
ServiceNow investor dashboard
NYSE: NOW · AI monetization versus valuation
Market snapshot: Aug. 31, 2026 · 05:18 EDT
Share price
$144.71
+4.54% Friday
Market value
$149.7bn
89.3× trailing P/E
Q2 subscription revenue
$3.88bn
+24.5%
AI contract value
$1bn+
$1.5bn year-end target
Operating engine
Peer valuation
| Company | P/E | Move |
|---|---|---|
| ServiceNow | 89.3× | +4.5% |
| Salesforce | 23.5× | +1.6% |
| Workday | 41.4× | +5.6% |
| Oracle | 27.1× | -0.8% |
ServiceNow's premium requires sustained growth above peers.
Commercial signals
| RPO | $29.0bn |
| Current RPO | $13.2bn |
| Non-GAAP operating margin | 29.5% |
| H1 free cash flow | $2.3bn |
| FY subscription guide | $15.76–15.78bn |
Investor test
AI contract value must grow roughly 50% from the Q2 run rate to reach the year-end target. Pricing pressure, stock compensation or weaker backlog would make the valuation premium harder to defend.
Sources: ServiceNow Q2 2026 results and investor relations; current market data timestamped above. Non-GAAP measures are management figures.
EarningsNYSE:PFE
Pfizer Shares Edge Down 0.2% as $4 Billion COVID Forecast Challenges 5% Core Growth Target
Pfizer Inc. edged down 0.2% on Friday, closing at $27.96. The modest change belies a more pronounced battle between expanding sales from key drugs…
Pfizer investor dashboard
NYSE: PFE · core growth versus the COVID reset
Market: Aug. 31, 2026 · 05:02 EDT
Share price
$27.96
-0.21% Friday
Market value
$159.3bn
36.8× trailing P/E
Q2 revenue
$15.0bn
+3% reported
Adjusted EPS
$0.77
$2.80–$3.00 FY guide
Revenue reset
Valuation context
| Company | P/E | Move |
|---|---|---|
| Pfizer | 36.8× | -0.2% |
| J&J | 31.1× | +0.8% |
| Merck | 118.7× | -0.8% |
| Eli Lilly | 39.4× | -0.2% |
Pfizer trades near 9.6× the midpoint of adjusted 2026 EPS guidance. The trailing multiple is distorted by impairments.
Capital allocation
| First-half dividends | $4.9bn |
| Internal R&D | $5.3bn |
| 2026 buybacks | $0 |
| Indicated yield | 6.15% |
| Cost savings by end-2026 | $5.7bn |
Investor test
Core products must outrun a roughly $4 billion COVID franchise. Patent losses, pricing pressure and integration charges can absorb the benefit of launched-product growth.
Sources: Pfizer Q2 2026 release and investor relations; market data timestamped above. Guidance and non-GAAP measures are management figures.
CommoditiesNASDAQ:MSFT
U.S. Premarket Update — August 31, 2026, 05:00 ET: Futures Mixed, Brent Oil Rises Above $90
At 05:00 EDT, U.S. stock futures edged down as fresh clashes between the U.S. and Iran pushed oil prices past $90. Nasdaq futures managed…
U.S. premarket · 05:00 EDT
Monday, August 31, 2026 · first hour
Available interval: 04:00–05:00 EDT
S&P futures
7,709.75
-0.16%Dow futures
53,503
-0.15%Nasdaq futures
29,512
+0.07%Brent crude
$90.40
about +3%Session-to-date vs last hour
| Proxy | Level | 04:00–05:00 | Last hour |
|---|---|---|---|
| SPY | $768.33 | -0.13% | -0.13% |
| QQQ | $716.04 | -0.05% | -0.05% |
| IWM | $296.09 | +0.11% | +0.11% |
| DIA | $534.42 | -0.12% | -0.12% |
The premarket was exactly one hour old, so both columns cover the same available interval.
Active leaders
Halliburton+2.43%
Valero+2.25%
Chevron+1.83%
GE Vernova-1.64%
Microsoft-0.78%
Nvidia+0.60%
Transmission map
What to watch
Two-year Treasury yields, Gulf headlines and airline/utility reactions. Chicago PMI comes later Monday; ISM manufacturing follows Tuesday and payrolls Friday.
Breadth and consolidated volume are not representative before the 09:30 EDT cash open.
Sources: Yahoo Finance futures snapshot at 05:00 EDT; Investing.com premarket snapshot at 04:45 EDT; MarketWatch; Reuters/AP market reports.
NYSE:TStock Market
AT&T Shares Gain 2.3% as $4.7 Billion in Cash Flow Supports Fiber Growth
NEW YORK, August 31, 2026, 05:12 EDT AT&T's stock advanced 2.3% after the company announced $4.7 billion in cash flow, which will be allocated…
AT&T investor dashboard
NYSE: T · fiber cash conversion and capital returns
Snapshot: Aug. 31, 2026 · 04:50 EDT
Price
$26.01
+2.3% Friday
Market value
$180.7bn
8.6× trailing earnings
Q2 free cash flow
$4.7bn
funds capex and returns
Fiber adds
367k
646k total internet adds
Growth and cash signals
Peer valuation
| Company | P/E | Move |
|---|---|---|
| AT&T | 8.6× | +2.3% |
| Verizon | 13.0× | +1.3% |
| T-Mobile US | 19.0× | +2.0% |
Prices: Aug. 31 premarket snapshot. AT&T volume Friday was 22.7m versus a 65.5m 50-day average.
Capital map
| 2026–28 annual capital investment | $23–24bn |
| Q2 shareholder returns | $4.1bn |
| Q2 buybacks | $2.2bn |
| 2026 adjusted EPS guide | $2.25–2.35 |
What can break the case
Legacy erosion is accelerating. Higher build costs, weaker fiber take-rates or pricing pressure could slow free-cash-flow conversion. The EchoStar transaction also makes leverage reduction a competing use of cash.
Sources: AT&T Q2 2026 release and Form 10-Q; MarketWatch; market prices as timestamped. Figures are reported, except valuation ratios calculated from quoted market data.
Artificial IntelligenceCloud Computing
Amazon Shares Rise 4% as AWS Expansion Aligns With $220 Billion in AI Investments
Amazon.com rose roughly 4% on Friday following an analyst upgrade that emphasized the possibilities for agentic AI to enhance retail operations. Shares were around…
NASDAQ: AMZN · STOCK MOVE
AWS growth versus the AI spending bill
Market data: August 31, 2026, 04:37 EDT
Financials: Q2 2026
Financials: Q2 2026
Share price
$266.43
+3.95%
Market value
$2.90T
About $110B added
AWS growth
37%
Fastest in 18 quarters
2026 capex plan
~$220B
Up $20B from prior plan
Operating engine
AWS generated 60% of group operating profit from 21% of sales.
Q2 scorecard
| Group sales | $200.6B |
| Operating income | $27.5B |
| AWS sales | $42.2B |
| AWS operating income | $16.6B |
| AWS operating margin | 39.3% |
| Advertising growth | 26% |
Cash-flow bridge
| Measure | Current TTM | Prior TTM |
|---|---|---|
| Operating cash flow | $161.4B | $121.1B |
| Free cash flow | −$7.6B | $18.2B |
| P&E purchase increase | +$66.1B year over year | |
| Implied annualized Q2 operating profit | $110.0B | |
| Market value / annualized operating profit | ~26× | |
Investor watch
Capacity
Two million additional NVIDIA GPUs through early 2029.Returns
AWS margin must fund power, chips and depreciation.Retail
Agentic AI and robotics must improve cost per unit.Core test: keep AWS near 37% growth without making negative free cash flow structural.
Sources: Amazon Q2 2026 results; current market quotes; public reporting on the AWS–NVIDIA expansion. Estimates may differ from reported GAAP measures.
Artificial IntelligenceCloud Computing
Nokia shares slip 3.6% following €732 million cash burn, raising questions over AI-cloud strategy
New York, August 31, 2026, 04:30 - Nokia stock dropped 3.6% as the company's €732 million cash burn put added pressure on the telecom…
NYSE: NOK · STOCK MOVE
Nokia AI growth versus cash conversion
Price: August 28, 2026 close
Financials: Q2 2026
Financials: Q2 2026
ADR close
$10.21
−3.59%
Volume
50.6M
58% of 50-day average
AI & Cloud sales
€446M
+105% constant currency
Free cash flow
−€732M
€820M worse year over year
Growth has not reached cash flow
The reported-margin marker sits below zero; restructuring created a 10-point gap versus the comparable measure.
Q2 scorecard
| Metric | Value | Change |
|---|---|---|
| Net sales | €4.82B | +8% |
| AI & Cloud sales | €446M | +105% CC |
| AI & Cloud orders | ~€2.8B | Pipeline |
| Comparable operating profit | €434M | 9.0% margin |
| Reported operating result | −€50M | −1.0% margin |
| Restructuring charges | €390M | Cash burden |
Guidance and valuation
| 2026 comparable operating profit | €2.1B–€2.6B |
| Management target | Somewhat above midpoint |
| Net cash + interest-bearing investments | €2.78B |
| Working-capital outflow | ~€1.15B |
| Trailing P/E screen | ~72× |
| Communications-industry average | ~34× |
Investor watch
Orders
How quickly €2.8B of AI-and-cloud orders converts into revenue.Cash
Whether working capital reverses after absorbing about €1.15B.Costs
Whether accelerated restructuring closes the reported-margin gap.Core test: AI revenue can support a rerating only if operating gains reach free cash flow.
Sources: Nokia Q2 and half-year 2026 report; MarketWatch price and volume; published valuation screen. Constant-currency growth is marked “CC.”
CryptocurrencyNYSE:BMNR
BitMine Stock Falls 7.1% as Ether Slump Cuts Treasury Value by $4.8 Billion
BitMine Immersion Technologies entered Monday's premarket after a 7.1% Friday decline. The more important move came after the close. Ether fell to about $1,625…
NYSE: BMNR · STOCK MOVE
BitMine treasury repricing
Market data: August 31, 2026, 04:20 EDT
Holdings: August 23, 2026, 14:00 EDT
Holdings: August 23, 2026, 14:00 EDT
Friday close
$23.80
−7.14%
Friday volume
51.6M
132% of 65-day average
Ether
$1,624.95
−33.4% vs company mark
Estimated asset premium
30.1%
$13.13B market cap / $10.10B assets
What changed
Company reference: $2,440/ETHCurrent: $1,624.95/ETH
Identified assets
| 5.85M ETH | $9.50B |
| 210 BTC | $16.4M |
| Cash + marketable securities | $308M |
| Beast Industries stake | $180M |
| Eightco stake | $89M |
| Total estimate | $10.10B |
|---|
Simple mark-to-market estimate. It excludes liabilities, taxes, other balance-sheet items and changes after the disclosure date.
Staking economics
| Metric | Reported | Current-price estimate |
|---|---|---|
| Staked ETH | 5.067M | 5.067M |
| 7-day annualized yield | 2.67% | 2.67% |
| Annualized revenue | ~$330M | ~$220M |
| Share of ETH staked | 87% | 87% |
Investor watch
Price
Every $100 move in ETH changes treasury value by about $585M.Yield
Lower ETH prices reduce dollar staking revenue even if yield holds.Premium
Dilution, custody, regulation and slashing can alter the asset premium.Core question: can MAVAN and treasury execution justify a 30% premium after Ether's weekend reset?
Sources: BitMine August 24 release; MarketWatch/FactSet; live crypto quotes. Estimates use BMNR market capitalization of $13.13B, ETH at $1,624.95 and BTC at $78,117.
AirlinesEarnings
American Airlines Shares Drop 0.6% After $2.2 Billion Fuel Costs Narrow Margin to 0.4%
Shares of American Airlines Group Inc. dropped 0.6% on Friday, with investors considering record revenue versus a sharp decline in profit due to higher…
American Airlines investor dashboard
Market data: August 28, 2026, 16:00 ET • Fundamentals: Q2 2026 • Prepared August 31, 2026, 04:07 ET
Close
$13.64
−0.58%
Volume
63.5m
shares
Q2 revenue
$16.7bn
+16.3% YoY
GAAP margin
0.4%
$71m profit
| Financial signal | Current | Context |
|---|---|---|
| Adjusted EPS | $0.15 | Consensus cited: $0.03 |
| Fuel cost increase | >$2.2bn | Nearly half offset by demand |
| FY adjusted EPS guide | −$0.65 to +$0.65 | Midpoint: $0.00 |
| Q3 capacity growth | 3%–5% | Reduced operating cushion |
| Analyst target | $18.50 average | $10–$25 range |
Margin conversion
Only 0.4 cents of each revenue dollar reached GAAP net income. The 2025 comparison was roughly 4.2 cents.
Investor focus: record demand matters only if pricing, premium mix and capacity discipline can absorb volatile jet fuel. Risks: oil, fares, operations, leverage and demand elasticity.
NYSE:NUStock Market
Nu Holdings Shares Slip 3.9% Despite Record Profit Amid 6.9% Bad-Loan Ratio
Nu Holdings Ltd. lost 3.9% on Friday, with investors focusing on its all-time high profit alongside an uptick in late-stage delinquencies. Shares finished at…
NYSE: NU · Credit quality dashboard
Profit record meets a 6.9% bad-loan test
Generated Aug. 31, 2026, 03:34 EDT
Market data: Aug. 28 close / 19:59 EDT after-hours
Market data: Aug. 28 close / 19:59 EDT after-hours
Friday close
$14.30
−3.90% · −$0.58
After-hours: $14.32, +0.14%
Market value
$69.08B
About $2.8B erased Friday
Trading activity
79.13M
Shares vs. 77.20M average
1.03× normal volume
Valuation
19.5×
Trailing P/E · 14.8× forward
Beta: 0.94
Credit-quality split
Early arrears improved, but late-stage NPLs rose 35 basis points sequentially.
Profit versus risk
| Metric | Q2 2026 | Comparison |
|---|---|---|
| Net income | $1.06B | +17% QoQ |
| Gross revenue | $5.88B | +39% YoY |
| Risk-adjusted NIM | 12.4% | +290 bps QoQ |
| Credit portfolio | $39.4B | +37% YoY |
| Cost of credit | $1.69B | Lower QoQ |
| ROE | 33% | Record quarter |
Analyst valuation range
6 Buy2 Hold1 Sell
Operating scale
Customers
139M
+4M in Q2 · 118M in Brazil
Deposits
$45.3B
1.15× credit portfolio
| Activity rate | 83.5% |
| Monthly ARPAC | ~$17 |
| Efficiency ratio | 19.5% |
| Deposit cost | 88% of interbank rates |
Catalyst map
Sept. 14–15: Brazil Copom policy meeting. Rate direction affects funding, loan demand and credit performance.
Nov. 12: scheduled Q3 results. Watch 90+ day NPLs, provisions, risk-adjusted NIM and efficiency.
Risk checklist
Late-stage defaults may lift provisions. Faster unsecured lending can amplify losses. Currency weakness changes reported dollar results. Mexico, Colombia and U.S. expansion can raise costs before revenue scales.
NASDAQ:ONDSStock Market
Ondas Drops 9.7% After Posting $50.6 Million Loss and Reporting $757 Million Backlog
Ondas Inc. ended Friday down 9.71% at $7.90. Volume totaled 69.97 million shares, representing roughly 81% of the company's 65-day average.
NASDAQ: ONDS · Stock move
Ondas: backlog growth meets a loss test
Market: Aug. 28, 2026, 16:00 EDT
Prepared: Aug. 31, 2026, 02:12 EDT
Prepared: Aug. 31, 2026, 02:12 EDT
Friday close
$7.90
−9.71% · −$0.85
Volume
69.97M
81% of 65-day average
Market value
≈$3.98B
Aug. 28 close
After hours
$7.93
+0.38% · 19:59 EDT
Revenue ramp
Backlog conversion
$757M
Pro-forma backlog at June 30
1.41× midpoint 2026 revenue guide
Q2 adjusted EBITDA
−$50.6M
versus −$10.9M in Q1
Liquidity and deployment
| June 30 cash + restricted cash + short-term investments | $1.4B |
|---|---|
| Q3 cash used for DZYNE and Cyberhawk | ≈$325M |
| Modeled remainder before other flows | ≈$1.08B |
Analyst snapshot
Strong Buy
9 analysts $19.42 average target
Target range: $13–$25. Targets are estimates, not guarantees.
| Execution checkpoint | Current evidence | What changes the thesis |
|---|---|---|
| Q3 revenue | $140M–$155M guide | Delivery timing and mix |
| Margins | 50.4% adjusted gross margin in Q2 | Operating leverage must offset integration costs |
| Profitability | Platform target: Q4 2026 | Sequential EBITDA improvement |
| M&A | Aran: ≈$33M for ≈$26M expected 2026 sales | Q3 closing and integration |
Backlog includes acquired businesses and depends on shipment schedules. Customer concentration, program delays and integration spending can shift revenue and cash flow between quarters.
EarningsNYSE:HUM
Humana Stock Falls 1.8% as 600,000-Member Medicare Exit Tests Margin Recovery
Humana Inc. fell 1.79% Friday as investors weighed a 2027 Medicare Advantage pullback affecting about 600,000 members. That total represents roughly 8% of its…
NYSE: HUM · Investor dashboard
Humana’s 2027 margin reset
Market: Aug. 28, 2026, 16:00 EDT
Prepared: Aug. 31, 2026, 01:05 EDT
Prepared: Aug. 31, 2026, 01:05 EDT
Friday close
$385.54
−1.79% · −$7.03
Market value
$46.3B
36.4× trailing EPS
Members affected
600K
≈8% of 7.2M MA members
Expected recapture
40%
≈240K members
Membership bridge: exit scale versus retention
Investor read: The exits shrink volume, but they remove weaker capital-return plans. The valuation case depends on recapture and progress toward a sustainable individual MA pretax margin of at least 3% by 2028.
Operating checkpoints
| 2Q adjusted EPS | $7.61 |
| FY26 adjusted EPS guide | ≥$9.00 |
| FY26 GAAP EPS guide | ≥$6.52 |
| 2Q Insurance benefit ratio | 91.2% |
| FY26 benefit-ratio guide | 92.75% ±25 bp |
| FY26 individual MA growth | ≈25% |
What supports the reset
2027 CMS payment change +2.48%Risk-trend-inclusive change +4.98%More than $13B industry payment increase25% 2026 individual MA growthTargeted low-return plan exits
What can break it
Medical utilization stays elevatedStar bonuses remain weakRecapture falls below 40%Benefit redesign hurts retentionAcquisition costs rise
Catalyst timeline
Oct. 2026
Plan notices and 2027 Star Ratings sharpen the bonus and retention outlook.
Oct. 15
Medicare annual election period begins.
Dec. 7
Annual election period ends.
Jan. 1
2027 plan changes take effect.
2028
Management targets at least 3% sustainable individual MA pretax margin.
Artificial IntelligenceEarnings
UiPath Shares Edge Down 1% Ahead of Results With 29% Short Interest as $1.93 Billion ARR Comes Into Focus
UiPath Inc. heads into earnings week with a high level of short interest and expectations for a strong rebound priced into the stock. Shares…
NYSE: PATH · Stock move
UiPath earnings pressure map
A 39% monthly rally meets high short interest and a slower sequential ARR build.
Market: Aug. 28, 2026, 16:00 EDT
Prepared: Aug. 31, 2026, 00:10 EDT
Prepared: Aug. 31, 2026, 00:10 EDT
Friday close
$18.15
−0.98% · −$0.18
Volume
53.13M
79% of 65-day average
Short interest
29.27%
117.88M shares
One-month move
+39.08%
Five-day gain: +9.54%
Operating benchmarks
| Metric | Q1 FY2027 | Next test |
|---|---|---|
| Revenue | $418M · +17% YoY | $395M–$400M Q2 guide |
| ARR | $1.901B · +12% | $1.929B–$1.934B |
| Net new ARR | $49M | ≈$30.5M implied midpoint |
| Net retention | 109% | Stabilization or reacceleration |
| GAAP operating income | $28M | Profit durability |
| Adjusted free cash flow | $130M | Cash conversion |
Positioning gauge
High short interest can accelerate covering on a beat or deepen a reversal after a miss.
Market value
$9.4B
P/E: 29.95×
Cash + securities
$1.42B
15% of equity value
Implied EV / ARR
≈4.1×
Using Q2 ARR midpoint
52-week range
$9.20–$19.84
Close is 8.5% below high
Catalyst calendar
Sep. 3
Q2 FY2027 results
After close; call at 5:00 p.m. EDT.
After close; call at 5:00 p.m. EDT.
Sep. 22
Investor Day 2026
11:30 a.m. PDT; strategy and long-term model.
11:30 a.m. PDT; strategy and long-term model.
FY2027
Full-year guide
Revenue $1.776B–$1.781B; non-GAAP operating income ≈$430M.
Revenue $1.776B–$1.781B; non-GAAP operating income ≈$430M.
What can break the setup
ARR growth below 12%, net retention slipping from 109%, weaker federal or international demand, and poor conversion of agentic pilots into production contracts would challenge the rerating.
Banco Azteca provides operating proof: 300+ automations across 8,800+ processes. It does not disclose UiPath contract value.
EarningsNASDAQ:MRVL
Marvell Shares Drop 10.3%, Wiping Out $22 Billion Amid Google Revenue Delay to 2029
SANTA CLARA, California, August 30, 2026, 23:05 – Marvell Technology stock declined 10.3%, erasing $22 billion from its market capitalization after the company said…
NASDAQ: MRVL · Stock move
Marvell: record growth meets a 2029 payoff test
The quarter beat guidance, but the Google custom-silicon ramp remains back-loaded. Valuation still demands sustained acceleration.
Market data: Aug. 28, 2026, 16:00 EDT
Prepared: Aug. 30, 2026, 23:11 EDT
Prepared: Aug. 30, 2026, 23:11 EDT
Friday close
$216.62
−10.28% · −$24.83
After-hours: $216.40 at 19:59 EDT
Equity value erased
≈$22.3B
Using roughly 900M basic shares
Q2 revenue
$2.739B
+37% YoY · +13% sequentially
Analyst median target
$295
+36.2% vs Friday close
FactSet via WSJ, Aug. 28
Operating momentum
Catalyst timeline
Aug. 18Google warrant issued at $206.58 for up to 58.97M shares.
Aug. 27Record Q2 results; FY2027 and FY2028 revenue outlooks raised.
Oct. 6Investor Day: next confirmed strategy and long-term target update.
Fiscal 2029Management expects Google revenue to become much more significant.
Valuation and expectations
| Metric | Marvell | Reference |
|---|---|---|
| Forward P/E | 58.41× | Broadcom 32.15× |
| FY2027 EPS estimate | $4.20 | $4.04 three months ago |
| FY2028 EPS estimate | $6.69 | $6.13 three months ago |
| Ratings | 30 Buy · 7 Overweight | 6 Hold · 0 Sell |
| Target range | $211.97–$400 | Median $295 |
What changed
Beat: Revenue was $39M above prior guidance midpoint. Adjusted EPS of $0.94 topped the $0.93 consensus.
Guide: Q3 revenue midpoint implies about 15% sequential growth.
Disconnect: The Google agreement can support up to $120B of cumulative custom-product revenue, but the strongest contribution is not expected until fiscal 2029.
Investor bridge
Friday's decline removed about $22.3B of equity value even as quarterly revenue grew 37%. The central question is timing: Marvell must convert its Google and other hyperscaler programs into revenue quickly enough to justify a forward earnings multiple roughly 82% above Broadcom's.
Risk monitor
Timing: Google revenue may arrive later than expected.
Concentration: Four customers represented 72% of receivables.
Margin: Q3 adjusted gross-margin guidance is 57.5%–58.5%.
Supply chain: About 84% of quarterly sales shipped to customers operating in Asia.