ASX:DRODefense Technology
DroneShield Shares Slide 9.4% Despite 74% Sales Increase as Net Loss Reaches A$32.2 Million
Shares in DroneShield Limited dropped 9.4% on Wednesday, finishing at A$1.768 as higher first-half costs offset its record sales.
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ASX:DRO · Company · Stock move
Sales landed. Profit did not.
Market data: 26 Aug 2026, 16:12 AEST
Results: six months ended 30 Jun 2026
Results: six months ended 30 Jun 2026
CloseA$1.768−9.4% · A$0.182
Quoted value erasedA$168m924.09m shares × A$0.182
1H revenueA$125.8m+74% · met consensus
Statutory lossA$32.2mA$6.6m profit expected
Half-year scorecard
| A$ million | 1H25 | 1H26 | Change |
|---|---|---|---|
| Revenue | 72.3 | 125.8 | +74% |
| Recurring revenue | 3.5 | 11.5 | +229% |
| Gross margin | 65.3% | 60.0% | −5.3 pts |
| Underlying EBITDA | 8.0 | −12.4 | −20.4 |
| Statutory NPAT | 2.1 | −32.2 | −34.3 |
The guide is mostly covered
- Cash: A$180m at 30 Jun; no debt.
- Remaining sales: A$10m–A$30m.
- Core test: restore EBITDA and gross margin.
Market reaction: four times the earnings miss
Analyst expectations
A$2.70Pre-results average target from five analysts. Consensus: Buy, but the split is wide at three Buy and two Sell ratings.
High A$5.00Low A$1.60Canaccord A$2.804 Aug snapshotSignals to watch
Gross margin recovery, second-half EBITDA, delivery timing and recurring revenue. Governance remains material while ASIC examines historical disclosures and trading.
15.7% short interestInventoryProduct mixASICSources: DroneShield first-half 2026 results and investor relations; Visible Alpha consensus via Capital Brief; market and analyst data from Investing.com and S&P Global. Market figures timestamped 26 Aug 2026, 16:12 AEST. Calculations are estimates using reported shares outstanding.
GamingStock Market
ASUS stock climbs 5% with ROG Xbox Ally X20 preorders starting at $1,299
ASUS launched U.S. preorders for the ROG Xbox Ally X20 at $1,299. Shares of ASUSTeK Computer Inc., the parent company, gained 4.97% to NT$971…
Product / Commercial Catalyst
ROG Xbox Ally X20 investor dashboard
Market data: Aug. 26, 2026, 13:30 CST
Product data: Aug. 25, 2026
Product data: Aug. 25, 2026
ASUSTeK close
NT$971
▲ 4.97% · +NT$46
Value added
NT$34.2B
Estimated from 742.76M shares outstanding.
X20 price
$1,299
30% above Ally X
Analyst view
Buy
13 analysts · NT$1,018 average target · 4.85% upside.
Premium ladder — U.S. list price
ROG Xbox Ally$600
ROG Xbox Ally X$1,000
ROG Xbox Ally X20$1,299
X20 bundle$2,499
The standalone X20 is 116.7% above ASUS's entry handheld. The bundle is 92.4% above the standalone X20.
Share move versus operating scale
The market-value gain was 1.74× quarterly operating profit. This is scale context, not proof that the launch caused the stock move.
Hardware and financial signals
| Signal | Latest | Change / context | Investor read-through |
|---|---|---|---|
| Q2 brand revenue | NT$241.1B | +39% YoY | Premium products support growth |
| Q2 operating profit | NT$19.6B | +230% YoY | Strong operating leverage |
| Gross margin | 16.5% | +4.1 pts YoY | Mix is financially material |
| High-value mix | >65% | Q2 revenue share | X20 fits stated strategy |
| X20 display | 7.4-inch OLED | 1080p · 120Hz | Supports 30% price premium |
| Processor | Ryzen AI Z2 Extreme | 8 cores · 50 TOPS NPU | Matches prior Ally X silicon class |
Catalyst path
Aug. 25 · Preorders opened$1,299 standalone; $2,499 bundle
Aug. 26 · Taiwan close2357 gained 4.97% to NT$971
Oct. 15 · On-shelf dateFirst delivery and channel checks
What could break the thesis
ASUS disclosed no preorder count, production target or product margin. A limited edition can lift average selling price without moving total revenue. Component inflation, premium-handheld competition and weak conversion after October 15 are the key measurable risks.
Sources: ASUS launch release, ASUS specifications, ASUS investor relations, S&P Global analyst consensus via StockAnalysis. Calculations use the Aug. 26 close and 742.76M shares outstanding.
Stock Market
U.S. Treasury yields climb ahead of $4 billion buybacks and key PCE data
NEW YORK, August 26, 2026, 07:34 — U.S. Treasury yields moved up as investors await $4 billion in scheduled buybacks and focus on upcoming…
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Rates • liquidity • inflation
U.S. Treasury duration dashboard
Market snapshot: August 26, 2026, 07:35 EDT
13:35 CEST • Pre-PCE • Cash market open
13:35 CEST • Pre-PCE • Cash market open
10-year yield
4.643%
+0.6 bp early Wednesday
30-year yield
5.181%
+0.8 bp early Wednesday
10s30s slope
+53.8 bp
Long-end term premium remains high
Buyback cap
≥$4B
At least 100% higher from September 9
10-year yield: the buyback rally did not break the range
4.74%4.69%4.64%
Aug 11Aug 19Aug 25Aug 26
Buyback plan4.638%4.643%
10-year yieldClose data through Aug. 25; Aug. 26 is 07:20 EDT
Latest curve
2-year4.24%
5-year4.41%
10-year4.643%
20-year5.21%
30-year5.181%
2-, 5- and 20-year: August 25 close. 10- and 30-year: August 26, 07:20 EDT.
The curve is upward-sloping beyond two years. Investors still demand extra compensation for duration, inflation and fiscal uncertainty.
Catalyst timeline
Aug 19
Treasury doubles long-end liquidity-support buyback caps to at least $4 billion.
Aug 25
10-year yield falls 6.5 bp; 30-year drops 5.6 bp as oil retreats.
Aug 26
08:30 EDT: July PCE inflation and second-estimate Q2 GDP.
Sep 9
Larger 10-to-30-year buyback operations begin.
Nov 4
Treasury reviews future sizes at the next quarterly refunding.
Inflation test
| Measure | June | July consensus |
|---|---|---|
| Headline PCE, y/y | 3.7% | 3.6% |
| Core PCE, y/y | 3.3% | 3.3% |
| Federal Reserve goal | 2.0% | |
Core inflation sits well above target. Marker shows 3.3% on a 2%–3.8% scale.
Buybacks can improve liquidity. They do not remove the inflation premium embedded in long-maturity yields.
Illustrative 10-year reaction map
| July core PCE outcome | Possible first move | Bias |
|---|---|---|
| ≤3.1% | -5 to -10 bp | Duration bid |
| 3.2%–3.4% | -3 to +3 bp | Range |
| ≥3.5% | +7 to +15 bp | Selloff risk |
Scenario ranges are analytical estimates, not forecasts. Oil and GDP revisions can amplify or offset the first reaction.
Investor transmission
| Channel | Current signal | Exposure |
|---|---|---|
| Mortgages | 30-year fixed near 6.75% | Housing demand, banks |
| Corporate credit | 4.64% risk-free anchor | Refinancing cost |
| Equities | High discount rate | Long-duration growth |
| Pensions | 5.18% long bond | Liability values |
Mortgage estimate dated August 25, 2026. Treasury yields dated August 26, 07:20 EDT.
What the buyback can—and cannot—do
Can
Retire harder-to-trade off-the-run bonds, support dealer liquidity and reduce local pricing gaps in the 10-to-30-year sectors.
Cannot
Fix the primary deficit, guarantee lower yields or neutralize an upside inflation surprise. Treasury explicitly frames the program as liquidity support.
Sources: U.S. Treasury · BEA calendar · BEA core PCE · Federal Reserve H.15 · Reuters · Tradeweb via Barron's. Updated August 26, 2026, 07:35 EDT.
EarningsNYSE:BBWI
Bath & Body Works Shares Drop 1.8% Ahead of Market Open; $80 Million Refund Overshadows Q2 Earnings Win
Bath & Body Works shares pointed down after the company’s quarterly outperformance was largely driven by a tariff refund. Bath & Body Works, Inc.…
NYSE: BBWI · Q2 2026
Bath & Body Works investor dashboard
Premarket snapshot: August 26, 2026, 07:12 EDT · Earnings data: quarter ended August 1, 2026
Premarket price
$17.27
−1.82% from Tuesday's $17.58 close; about $63 million of equity value lost
Q2 net sales
$1.514B
−2.3% YoY; roughly $11 million above the top of company guidance
Adjusted EPS
$0.62
$0.31 without the $80 million tariff refund
FY26 free cash flow
~$650M
+$50 million versus the May outlook
Where the sales moved
Stores still generated 74.7% of quarterly revenue. Direct and international growth offset about 46% of the $65 million store-sales decline.
The $80 million earnings bridge
Ex-refundReported
Guidance: higher EPS, smaller sales change
| FY26 metric | May 27 | Aug. 26 | Change |
|---|---|---|---|
| Net-sales growth | −4.5% to −2.5% | −4.0% to −2.5% | Low end +0.5 pt |
| Adjusted EPS | $2.40-$2.65 | $2.60-$2.80 | Midpoint +6.9% |
| Adjusted gross margin | ~42.4% | ~43.3% | +90 bps |
| Free cash flow | ~$600M | ~$650M | +$50M |
| Capital spending | ~$270M | ~$240M | −$30M |
Valuation at the premarket indication
| Equity value | ~$3.48B |
| FY26 adjusted P/E | ~6.4× midpoint |
| FY26 free-cash-flow yield | ~18.7% |
| Annual dividend yield | ~4.6% |
| 52-week range | $14.28-$32.32 |
Calculated with $17.27, 201.56 million shares, $2.70 adjusted EPS midpoint and $650 million free-cash-flow guidance. No repurchases are assumed in management's outlook.
Analyst map
| Date | Firm | View | Target |
|---|---|---|---|
| Aug. 19 | Telsey | Hold | $22 |
| Aug. 18 | JPMorgan | Neutral | $24 |
| Aug. 18 | Citi | Buy | $25 |
| Jul. 8 | Goldman Sachs | Sell | $19 |
Consensus: Hold from 18 analysts; average target $25.33. Targets may change after the earnings call.
What matters next
Management conference call. Watch the refund accounting, promotion cadence and digital contribution.
Sales guide: −5.0% to −2.5%. Adjusted EPS guide: $0.07-$0.12 versus $0.35 last year.
Cost-savings expectation: about $200 million, $25 million above the initial target.
Management's stated horizon for a more material transformation benefit.
Investor read-through
The report beat the company's guidance even after removing the refund. The valuation question is whether direct and international growth can offset a store channel that still supplies three-quarters of sales. The third-quarter guide keeps that test unresolved.
Sources: Bath & Body Works Q2 2026 earnings release and presentation; Yahoo Finance quotation at 07:12 EDT; StockAnalysis analyst record. Price data are indicative and may be delayed. Calculations are derived from disclosed inputs and rounded.
ASX:WTCEarnings
WiseTech Shares Slide 9.6% Following 6%-10% Revenue Guidance Despite Record Sales
Shares in WiseTech Global Limited dropped 9.6% on Wednesday. The company finished at A$41.10, after reaching as low as A$40.80 during the session, market…
ASX:WTC · Company · Stock move
Growth slowed. The valuation reset.
Market data: 26 Aug 2026, 16:12 AEST
Financials: FY ended 30 Jun 2026
Financials: FY ended 30 Jun 2026
CloseA$41.10−9.6% · A$4.37
Quoted value erasedA$1.46bn333.43m shares × A$4.37
FY26 revenueUS$1.396bn+79% year on year
FY27 revenue guideUS$1.48–1.54bn+6% to +10%
The earnings bridge
| US$ million | FY25 | FY26 | FY27 guide |
|---|---|---|---|
| Revenue | 778.7 | 1,395.9 | 1,480–1,540 |
| Underlying EBITDA | 413.9 | 644.5 | 725–780 |
| Underlying margin | 53% | 46% | 49%–51% |
| Statutory NPAT | 200.7 | 178.7 | — |
What drove attention
- e2open: US$541.2m of revenue from 11 months of consolidation.
- CargoWise: US$756.9m revenue, up 11%.
- Cash: US$489.6m underlying free cash flow, up 67%.
- Leverage: 2.7× net debt/EBITDA at 30 Jun 2026.
- Efficiency: US$115m annualised run-rate savings.
Price reaction versus Tuesday's close
Analyst expectations
A$65.16Average target from 16 analysts, published before the FY26 result. Consensus: Buy. Implied upside from A$41.10: 58.5%.
11 Strong Buy2 Buy3 HoldJul 2026 snapshotWhat can break the thesis
Revenue growth must reaccelerate after e2open's first-year step-up. Freight weakness can slow transaction revenue. Integration costs, regulatory scrutiny and restructuring may delay the 49%–51% FY27 margin target.
ACCC inquiryIntegrationFreight cycleExecutionSources: WiseTech FY26 results and investor centre; ASX-market reporting; StockAnalysis S&P Global consensus. All company financials are in U.S. dollars unless stated. Market-value change is an estimate using reported shares outstanding.
EarningsNASDAQ:SMTC
Semtech shares gain 4.3% before market open as $410 million revenue forecast beats expectations by 14%
Semtech Corporation gained 4.3% ahead of the market open after projecting a stronger uptick in growth. Shares were priced at $133.00 at 06:30 EDT,…
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Company · Stock move · Earnings
Semtech's guide resets the growth curve
A record quarter matters. The larger signal is a $410 million revenue guide that sits 14% above consensus, supported by 91% data-center growth and expanding margins.
NASDAQ: SMTCUpdated August 26, 2026, 06:32 EDTPremarket price
$133.00
August 26, 2026, 06:30 EDT
Premarket move
+4.30%
+$5.48 vs August 25 close
Two-session move
+10.00%
$120.91 to $133.00; August 24–26
Implied equity value
$12.39B
Calculated at $133.00; 06:30 EDT
Price reaction
$134$127$120$120.91$127.52$133.00 Aug. 24 closeAug. 25 closeAug. 26, 06:30 EDTThe premarket rise added about $510 million after a $616 million regular-session gain. August 25 regular volume was at least 6.67 million shares, about twice the three-month average.
Q2 FY2027 scorecard
| Metric | Reported | Comparison |
|---|---|---|
| Revenue | $341.9M | +33% YoY; 4.0% beat |
| Adjusted EPS | $0.71 | +73% YoY; 16.4% beat |
| Adjusted gross margin | 54.5% | +130 bps QoQ |
| Adjusted operating margin | 24.4% | +560 bps YoY |
| Free cash flow | $61.4M | +48% YoY |
Quarter ended July 26, 2026; reported August 25.
Revenue engines
| Engine | YoY growth |
|---|---|
| Data center | +91% |
| Infrastructure | +69% |
| LoRa-enabled | +58% |
| IoT Systems and Connectivity | +11% |
Q2 FY2027 revenue; categories overlap and should not be summed.
Margin bridge
| Measure | Q2 FY2026 | Q1 FY2027 | Q2 FY2027 | Q3 guide |
|---|---|---|---|---|
| Adjusted gross margin | 53.2% | 53.0% | 54.5% | 58.3% ±100 bps |
| Adjusted operating margin | 18.8% | 20.4% | 24.4% | ≈31.0% midpoint calculation |
| Adjusted gross margin excluding held-for-sale unit | — | — | — | 63.9% ±100 bps |
The held-for-sale cellular-module business generated $48.1 million of Q2 revenue and $10.9 million of adjusted gross profit. Its implied 22.7% margin diluted the consolidated profile.
Company results and calculations published August 25, 2026.
Analyst expectations
ConsensusStrong Buy
Strong Buy / Buy / Hold12 / 1 / 2
Average target$202.92
Target range$155–$230
Upside from $13352.6%
15 analyst ratings available August 26, 2026; upside calculated at 06:30 EDT.
What changes the thesis
Upside triggerBacklog converts near $410M
Upside triggerData-center growth stays above 70%
Downside triggerBookings slip before shipment
Downside triggerGross margin misses 57.3%
Execution riskDivestiture or supply delays
Scenario markers, not company forecasts.
Why the stock is up
Semtech beat the completed quarter, but the forward numbers moved the valuation. The $410 million revenue midpoint stands 14% above consensus. The $1.05 adjusted-EPS midpoint is 44% higher. Data-center revenue growth and the planned removal of a low-margin unit make the margin expansion measurable.
Risk lens
Premarket liquidity remains thin. The forecast depends on bookings becoming shipments on schedule. Hyperscaler demand, customer concentration and limited supplier capacity can move timing between quarters. A high-growth valuation also leaves less room for execution errors.
NASDAQ:USARStock Market
USA Rare Earth Rises Further in Premarket by 2.5% After $1.55 Billion SPV Advances Past Serra Verde Milestone
Shares of USA Rare Earth rose further in premarket trading on Wednesday. The company secured funding for a government-supported entity set to purchase all…
NASDAQ: USAR · COMPANY · STOCK MOVE
USA Rare Earth: the funding is real, but it is not corporate cash
The $1.55 billion SPV supports Serra Verde’s output. Friday’s vote tests whether that protection offsets dilution.
U.S. premarketMarket data: Aug. 26, 2026, 06:01 EDT
Cash close: Aug. 25, 16:00 EDT
Cash close: Aug. 25, 16:00 EDT
Premarket
$19.90
+2.52% at 06:01 EDT
Tuesday close
$19.41
+6.12% · +$1.12
Two-step value gain
≈$394M
Close move + premarket
Volume
13.49M
1.01× 13.32M average
Market value
$4.75B
At Aug. 25 close
Eight-session price path
Daily closes through Aug. 25, plus the Aug. 26 premarket quote. U.S. dollars.
What moved: Tuesday’s $1.12 gain added about $274 million. The $0.49 premarket rise added another $120 million, using 244.7 million shares outstanding.
Hard catalyst clock
The financing announcement leads directly into the vote.
The SPV completed a $1.55 billion capitalization package for 100% of Serra Verde’s Phase 1 production.
USAR rose 6.12%. Northland maintained Buy and a $45 target.
Stockholders vote on issuing the shares needed for the Serra Verde acquisition.
Management expects closing after remaining conditions are satisfied or waived.
Approval removes one hurdle. It does not by itself confirm closing, integration, output or cash generation.
$1.55 billion offtake funding stack
Share of USAR’s $4.75 billion market value at the Aug. 25 close.
DoW investment$750M
Bank facility$500M
Forward purchase≥$300M
Total / market value32.6%
DoW increase+$250M
Offtake coverage100%Phase 1 output
The SPV buys product. Its funding is not a $1.55 billion deposit into USA Rare Earth’s corporate account.
Acquisition arithmetic
Serra Verde consideration at the $19.90 premarket share price.
New USAR shares126.849M≈$2.52B value
Cash payment$300M
Implied total≈$2.82B
New / current shares51.8%
Seller post-deal stake≈34.1%Before other changes
Price floors15 yearsOfftake term
The funding lowers customer and pricing risk. The stock issuance transfers a large part of the combined equity to Serra Verde’s owners.
Current financial signals
Quarter ended June 30, 2026.
| Metric | Reading | Investor use |
|---|---|---|
| Cash | $1.53B | 32.2% of market value |
| Q2 revenue | $5.82M | Early commercial base |
| Q2 gross loss | $1.58M | Costs exceeded product revenue |
| Q2 operating loss | $46.31M | Build-out spending |
| H1 operating cash use | $75.32M | Pre-acquisition burn |
| H1 capex + deposits | $108.39M | Expansion investment |
Cash was raised largely through a $1.5 billion PIPE. Serra Verde adds operations, debt and integration costs.
Analyst range
Targets available Aug. 25, 2026; change versus the $19.41 close.
| Reference | Target | Implied move |
|---|---|---|
| Northland | $45.00 | +131.8% |
| S&P Global high | $45.00 | +131.8% |
| S&P Global average | $37.38 | +92.6% |
| S&P Global low | $30.00 | +54.6% |
STRONG BUY Eight-analyst S&P Global consensus. Targets are opinions, not forecasts.
Rare-earth peer tape
Aug. 25 cash-session moves; the whole group participated.
| Company | Ticker | Move |
|---|---|---|
| Critical Metals | CRML | +21.44% |
| USA Rare Earth | USAR | +6.12% |
| MP Materials | MP | +4.79% |
| United States Antimony | UAMY | +1.96% |
The peer bid matters. USAR’s funding and Friday vote remain company-specific.
Risk monitor
What could break the current valuation case.
- The August 28 proposals may fail or closing conditions may remain unresolved.
- Issuing 126.849 million shares lifts the current estimated base by 51.8%.
- Serra Verde brings Brazilian regulatory, currency, operating and environmental exposure.
- Price floors reduce risk but do not guarantee target output or acceptable mine costs.
- USA Rare Earth reported a gross loss in Q2 and still consumes operating cash.
- A broad reversal in rare-earth equities could overwhelm the company catalyst.
EarningsNASDAQ:INTU
Intuit Shares Drop 11.7% Before Market, Wiping Out $11.4 Billion on 2027 Forecast
Intuit shares dropped 11.66% ahead of Wednesday’s market open after the company’s full-year forecast came in below analyst projections. Intuit Inc. was trading at…
INTU investor dashboard
Outlook reset overwhelms a Q4 beat
Premarket data: Aug. 26, 2026, 05:09 EDT
Guidance: Aug. 25, 2026
Guidance: Aug. 25, 2026
Premarket price
$315.77
−11.66% from $357.46 close
Value erased
≈$11.4B
$41.69 × 273.54M shares
FY27 revenue midpoint
$23.396B
$324.5M below LSEG consensus
Valuation
21.6×
Trailing P/E at Aug. 25 close; YTD −46.04%
One-day repricing
*Estimate uses $315.77 premarket price and 273.54 million shares outstanding.
Why investors reacted
| Measure | Guide | Street | Gap |
|---|---|---|---|
| FY27 revenue | $23.279B–$23.512B | $23.72B | −$324.5M* |
| Q1 revenue | $4.294B–$4.313B | $4.36B | −$56.5M* |
| FY27 adj. EPS | $22.88–$23.12 | $27.32 | basis shift |
*Midpoint gap. LSEG consensus cited by Reuters. EPS guidance now includes share-based compensation.
Growth moves down the stack
FY26 actual → FY27 guide
| Business | FY26 | FY27 | Signal |
|---|---|---|---|
| Company | +14% | +9%–10% | slower |
| TurboTax | +7% | +2%–3% | pricing reset |
| Consumer Group | +11% | +4%–6% | volume focus |
| Credit Karma | +20% | +11%–13% | normalizing |
| Mailchimp | not disclosed | −1% to 0% | drag |
| Global Business Solutions | +16% | +13%–14% | resilient |
Operating base
| FY26 revenue | $21.448B | +14% |
| Q4 revenue | $4.354B | beat $4.27B estimate |
| Cash and investments | $7.2B | Aug. 25 release |
| FY26 repurchases | $5.5B | share count −2% |
| Remaining authorization | $7.9B | Aug. 25 release |
TurboTax economics
FY26 revenue
$5.3B
Federal units
39.0M
−2%; desktop −7%, online −2%
TurboTax Live
53%
share of franchise revenue; Live revenue +37%
Analyst expectations
Consensus
Buy
35 analysts; average target $446.02
Recent target range
$250–$500
Piper Sandler to Jefferies
19 strong buy
5 buy
9 hold
2 sell
Consensus snapshot and published actions checked Aug. 26, 2026.
What changes the thesis
Bull case: lower entry pricing restores filer growth, while TurboTax Live keeps mix and service revenue rising.
Bear case: discounts reduce revenue per customer before volumes respond. Flat Mailchimp sales deepen the drag.
Accounting watch: fiscal 2027 adjusted EPS includes a $5.81 share-based-compensation impact. Prior periods excluded it.
Next checkpoint
Event
Investor Day
Date
Sept. 17, 2026
Time
11:00 EDT
Watch for TurboTax customer-acquisition targets, pricing detail, Mailchimp stabilization and fiscal 2027 margin assumptions.
Sources: Intuit fiscal 2026 results and fiscal 2027 guidance; Reuters/LSEG; MarketWatch; StockAnalysis; Benzinga. Calculations are estimates and may differ from reported market capitalization because of share-count timing. This dashboard is informational, not investment advice.
EarningsNASDAQ:MRVL
Marvell Shares Rise 4.8% Ahead of Key $120 Billion Google Revenue Earnings Report
Marvell Technology, Inc. rose 4.84% to $240.38 on Tuesday. Price targets were increased by Susquehanna and Rosenblatt ahead of the company’s earnings scheduled for…
Marvell: the $120 billion revenue test
A 4.84% rally prices faster AI growth before Thursday's earnings.
Aug. 25 close
$240.38
+$11.09 · +4.84%
NASDAQ close, Aug. 25, 2026, 16:00 EDT
Premarket
$240.85
+0.20%
Delayed quote, Aug. 26, 2026, 05:01 EDT
Market value
$210.52B
Tuesday added about $9.7B
MarketWatch, Aug. 25 close
Volume
21.35M
53% of 65-day average
Aug. 25 regular session
What Google must buy for full performance vesting
240purchase-based tranches
$500Mrevenue per tranche
$120Btotal qualifying revenue
14.6×Marvell FY2026 revenue
The purchases are discretionary. The $120 billion figure is a warrant-vesting ceiling, not booked revenue or guidance.
Fresh analyst targets
Targets: $265, $267.82 and $300. The consensus covers 44 analysts and carries a Strong Buy rating.
Earnings move priced by options
A 10% move equals roughly $21 billion of market value, or 7.8 times the Q2 revenue guide.
Operating baseline
| Measure | Latest |
|---|---|
| Q1 FY2027 revenue | $2.418B · +28% |
| Data Center revenue | $1.83B · +27% |
| Data Center share | 76% |
| Non-GAAP gross margin | 58.9% |
| Operating cash flow | $638.8M |
| Q2 revenue guide | $2.70B ±5% |
| Q2 adjusted EPS guide | $0.93 ±$0.05 |
Warrant economics
| Term | Figure |
|---|---|
| Maximum warrant shares | 58.97M |
| Exercise price | $206.58 |
| Discount to Aug. 25 close | 14.1% |
| Potential gross proceeds | $12.18B |
| Current-share equivalent | 6.7% |
| Purchase vesting window | FYQ3 2027–FY2033 |
| Average annual threshold | About $18.5B |
Risks and dated checkpoints
Revenue is conditional
Slower Google purchases reduce vesting and delay the expected sales ramp.
Slower Google purchases reduce vesting and delay the expected sales ramp.
Dilution matters
Full exercise equals about 6.7% of current shares, offset partly by $12.18 billion of proceeds.
Full exercise equals about 6.7% of current shares, offset partly by $12.18 billion of proceeds.
Valuation is stretched
MRVL is up 182.9% this year and trades near 82 times trailing earnings.
MRVL is up 182.9% this year and trades near 82 times trailing earnings.
Next checkpoint
Results follow Thursday's close; management's call begins Aug. 27 at 16:45 EDT.
Results follow Thursday's close; management's call begins Aug. 27 at 16:45 EDT.
Sources: market dataGoogle agreement 8-KQ1 resultsanalyst consensusearnings schedule. Calculations use company filings and the Aug. 25 close.
EarningsStock Market
Zoom Shares Slide 5.8% Premarket After EPS Guidance Misses Estimates
SAN JOSE, California, August 26, 2026, 05:32 EDT — Zoom Video Communications dropped 5.8% in premarket trade after it projected quarterly earnings per share…
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Company · Stock move · Premarket
Zoom's profit guide outweighs the beat
The market is discounting stronger enterprise and AI adoption because third-quarter adjusted EPS guidance missed consensus and cash generation softened.
NASDAQ: ZM Updated August 26, 2026, 05:32 EDTPremarket price
$95.06
August 26, 2026, 05:30 EDT
Move vs close
−5.81%
−$5.86 from $100.92; 05:30 EDT
Implied equity value
$28.54B
Calculated at $95.06; August 26, 05:30 EDT
Value erased
≈$1.76B
Premarket calculation vs August 25 close
Two-session repricing
$106$100$94$104.83$100.92$95.06 Aug. 24 closeAug. 25 closeAug. 26, 05:30 EDTThe two-session decline was 9.32%. August 25 regular-session volume was about 7.06 million shares, roughly 2.1 times the recent average. Premarket volume was 29,530 shares at 05:30 EDT on August 26.
Revenue mix and momentum
| Q2 FY2027 metric | Value | YoY |
|---|---|---|
| Total revenue | $1.277B | +4.9% |
| Enterprise revenue | $787.5M | +7.8% |
| Online revenue | $489.7M | +0.6% |
| Enterprise mix | 61.7% | Calculated |
Quarter ended July 31, 2026; results published August 25.
Operating signals
| Metric | Latest | Investor read |
|---|---|---|
| Non-GAAP operating margin | 40.0% | High profitability |
| Free cash flow | $472.4M | −7.0% YoY |
| Operating cash flow | $494.8M | −4.1% YoY |
| Enterprise expansion | 99% | One-point improvement; slight contraction remains |
| >$100K customers | 4,625 | +8.2% YoY |
| Virtual Agent customers | +256% YoY | Adoption disclosed; revenue not disclosed |
Quarter ended July 31, 2026; results published August 25.
Guidance and valuation frame
| Measure | Company range | Midpoint / calculation |
|---|---|---|
| Q3 FY2027 revenue | $1.275B–$1.280B | $1.2775B |
| Q3 adjusted EPS | $1.46–$1.48 | $1.47; 2.0% below consensus |
| FY2027 revenue | $5.085B–$5.095B | $5.090B |
| FY2027 adjusted EPS | $6.08–$6.12 | $6.10 |
| FY2027 free cash flow | $1.780B–$1.820B | $1.800B |
| Forward FCF yield | — | ≈6.3% at $28.54B equity value |
Guidance issued August 25, 2026; valuation calculations use $95.06 at August 26, 05:30 EDT.
Analyst expectations
ConsensusModerate Buy
Buy / Hold / Sell16 / 12 / 0
Average target$111.64
Premarket-implied upside17.4%
28 ratings and targets available August 26, 2026; upside calculated from $95.06 at 05:30 EDT.
What changes the view
Upside triggerEnterprise growth holds above 7%
Upside triggerAI adoption converts to disclosed revenue
Downside triggerExpansion stays below 100%
Downside triggerCash flow declines again
Scenario markers, not company forecasts.
Risk lens
Extended-hours liquidity can exaggerate price moves. Microsoft Teams and Google Meet remain bundled competitors. Zoom's AI customer growth is encouraging, but product revenue was not disclosed. Strategic-investment gains also make GAAP earnings less comparable with operating performance.
GamingNASDAQ:NFLX
Take-Two Faces $8.2 Billion Revenue Test with GTA 6 Netflix Launch
NEW YORK, August 26, 2026, 05:20 EDT — Take-Two Interactive’s projected $8.2 billion in bookings comes into focus as the gaming giant prepares for…
Product catalyst · Investor dashboard
GTA VI’s Netflix preview meets Take-Two’s bookings test
A six-hour streaming exclusive concentrates attention before the November launch. The financial question is conversion, not trailer views.
Market data: Aug. 25, 2026, 16:00 EDT
Prepared: Aug. 26, 2026, 05:20 EDT
Prepared: Aug. 26, 2026, 05:20 EDT
TTWO close
$232.93
−0.24%
Aug. 25 regular session
After hours
$233.58
+0.28%
Latest verified quote: 16:54 EDT
Equity value
$43.55B
Approximate market capitalization
Netflix head start
6 hours
3 p.m. to 9 p.m. EDT, Aug. 27
The event
Grand Theft Auto VI: An Extended Look premieres to Netflix members at 3 p.m. EDT Thursday.
Public release9 p.m. EDT · YouTube + GTA VI site
Game launchNov. 19, 2026
Standard / Ultimate$79.99 / $99.99
Edition premium25.0%
Fiscal 2027 bookings bridge
Q1 bookings$1.39B
Full-year guidance$8.0B–$8.2B
Still required after Q1$6.61B–$6.81B
Q1 equals 17.2% of the $8.1B guidance midpoint. GTA VI launches during the fiscal year.
Price position inside 52-week range
The average analyst target sits above the current 52-week high. That requires execution beyond a successful marketing event.
Franchise scale
470M+
Grand Theft Auto units sold-in worldwide
GTA V alone230M+
Preorders“Unprecedented”
Published unitsNot disclosed
Illustrative launch spending
| Units | Standard | Ultimate |
|---|---|---|
| 10M | $0.80B | $1.00B |
| 25M | $2.00B | $2.50B |
| 50M | $4.00B | $5.00B |
Gross consumer spending before platform fees, tax, refunds and edition mix. Not company guidance.
Analyst expectations
Strong Buy| Buy / Hold / Sell | 27 / 0 / 1 |
| Average target | $286.89 |
| Implied upside | 23.2% |
| Low / High | $170 / $368 |
Why investors care
Take-Two needs a sales curve, not merely a cultural moment.
Preview qualityA weak showcase may slow preorder momentum.
ConversionSix hours of exclusivity may not produce measurable subscriptions.
ScheduleAnother delay would push bookings and cash flow outward.
VisibilityPreorder units remain undisclosed and cancellable.
Sources: Take-Two investor relations and preorder release; Netflix Tudum; Reuters; StockAnalysis; Investing.com. Scenario calculations are illustrative. Prices are in U.S. dollars.
BiotechnologyNASDAQ:CRSP
CRISPR Therapeutics Stock Rises 6.7% Before CTX310 Data as $80 Target Signals 31% Upside
CRISPR Therapeutics AG rose 6.70% before a late-breaking CTX310 presentation. The stock closed Tuesday at $60.90. Volume reached 2.08 million shares.
NASDAQ: CRSP · CTX310 event monitor
CRISPR Therapeutics
Investors paid for clinical optionality before the August 28 durability update.
U.S. market closedClose: Aug. 25, 2026, 16:00 EDT
After hours: $60.77, −0.21% at 17:01 EDT
After hours: $60.77, −0.21% at 17:01 EDT
Close
$60.90
Aug. 25, 16:00 EDT
Daily move
+6.70%
+$3.83 per share
Quoted value added
≈$370M
Estimate using ≈96.7M shares
Volume
2.08M
1.24× 1.69M average
Market value
$5.89B
At Aug. 25 close
Seven-session price path
Daily closes, Aug. 17–25, 2026. The latest move recaptured the prior week's high.
What moved: Citizens reiterated Market Outperform and an $80 target before the CTX310 late-breaking presentation. The target stood 31.4% above Tuesday's close.
Catalyst clock
The valuation test shifts from anticipation to durability.
Citizens kept an $80 target. CRSP closed 6.70% higher on 1.24× average volume.
Late-breaking ESC presentation. The scheduled 10:30 EDT session covers Phase 1a CTX310 durability.
Management expects another CTX310 update as Phase 1b evaluates additional patients and dose selection.
The key question
Can one-time ANGPTL3 editing preserve lipid reductions without new safety signals? Durable effects would strengthen the cardiovascular-platform case. Short-lived effects would weaken it.
CTX310 efficacy seen so far
Mean reductions at the highest tested dose in initial Phase 1 data; investigational treatment, not an approved product.
Maximum individual reductions were 89%, 84% and 87%, respectively. Initial analysis covered 15 participants with average follow-up of at least 60 days. No treatment-related serious adverse events or grade 3-or-higher liver-transaminase changes were reported.
Balance-sheet buffer
Reported for the quarter ended June 30, 2026.
Cash + securities$2.36B40.1% of market value
Q2 net loss$91.2MGAAP
Simple runway≈26 qtrsCash ÷ one quarter's loss
Q2 revenue$10.2MCollaboration revenue
R&D$67.2MQ2 expense
Convertible proceeds$585.4MIncluded in liquidity build
The 26-quarter figure is a mechanical ratio, not management guidance. Clinical spending, milestones and working capital will change the actual runway.
Analyst valuation range
Targets available Aug. 25, 2026; upside or downside versus the $60.90 close.
| Reference | Target | Implied move |
|---|---|---|
| Citizens | $80.00 | +31.4% |
| S&P Global average | $87.56 | +43.8% |
| S&P Global median | $80.00 | +31.4% |
| S&P Global low | $44.00 | −27.8% |
BUY S&P Global consensus across 22 analysts. Targets are opinions, not forecasts.
Commercial anchor: CASGEVY
Vertex leads commercialization; economics are shared with CRISPR Therapeutics.
Q2 revenue$76MReported by Vertex
Sequential growth+78%Quarter over quarter
Annual growth+151%Year over year
Vertex and CRISPR Therapeutics share CASGEVY profits and costs 60%/40%. The approved therapy provides commercial validation, but CTX310 has a different delivery method, target and risk profile.
Risk monitor
The stock move came before detailed durability data.
- CTX310 remains in early clinical development and generates no product revenue.
- The initial sample was small. Longer follow-up could change efficacy or safety conclusions.
- Durability, dose selection, liver safety and off-target editing remain central clinical tests.
- Convertible financing supports cash runway but can create interest expense and future dilution.
- CASGEVY uptake does not guarantee success for an in-vivo cardiovascular program.
NASDAQ:AMDSemiconductors
AMD Shares Rise 4.9% After Server-CPU Update Adds $36.6 Billion in Market Value
Advanced Micro Devices stock rose 4.91% on Tuesday as Raymond James raised its rating on the chipmaker to Strong Buy. Advanced Micro Devices, Inc.…
AMD: a $36.6 billion upgrade day
Server-CPU optimism met a valuation already priced for rapid data-center growth.
Aug. 25 close
$479.18
+$22.44 · +4.91%
NASDAQ close, Aug. 25, 2026, 16:00 EDT
Premarket
$480.48
+0.27%
Delayed quote, Aug. 26, 2026, 04:35 EDT
Market value
$782.25B
Estimated daily gain: $36.6B
Based on Aug. 25 close and reported shares
Trading activity
19.0M
67% of 65-day average
Aug. 25 session
Analyst targets
Raymond James: Strong Buy, $641 target, raised from $565. Consensus: Moderate Buy, $553.72 average across 46 analysts.
Aug. 25 chip-stock moves
What the valuation move means
$36.6Bequity value added Tuesday
5.5×latest quarterly Data Center revenue
$264Bvalue implied from close to $641
39×Q2 Data Center revenue at target
Calculations use a $782.25 billion market value at $479.18. Rounded figures may not sum precisely.
Financial engine
| Q2 2026 measure | Result |
|---|---|
| Total revenue | $11.54B · +50% |
| Data Center revenue | $6.72B · +107% |
| Data Center operating income | $2.10B |
| Calculated segment margin | 31.3% |
| Non-GAAP gross margin | 56% |
| Q3 revenue guide | $13.0B ± $0.3B |
Why investors care
Raymond James estimates server-processor revenue can grow 44% annually to $201 billion in 2030. It attributes $168 billion of that market to AI demand.
The thesis is narrower than AMD's reported Data Center segment. That segment combines server CPUs and AI accelerators, so disclosed revenue does not isolate the upgraded product line.
Market context
AMD has gained 123.8% in 2026. It remains about 18% below its 52-week high of $584.73 and trades near 123 times trailing earnings.
Risks and checkpoints
Forecast risk
A $201 billion 2030 server-CPU market is an analyst estimate, not company guidance.
A $201 billion 2030 server-CPU market is an analyst estimate, not company guidance.
Competition
Intel, Arm designs and custom cloud chips may limit share and pricing.
Intel, Arm designs and custom cloud chips may limit share and pricing.
Execution
The next test is AMD's $13.0 billion third-quarter revenue outlook and data-center margin delivery.
The next test is AMD's $13.0 billion third-quarter revenue outlook and data-center margin delivery.
External constraints
Foundry capacity, export controls and supply concentration can affect revenue timing.
Foundry capacity, export controls and supply concentration can affect revenue timing.
Sources: AMD Q2 resultsAMD price historyRaymond James upgrade reportanalyst consensusmarket data. Market figures timestamped above.
EarningsNASDAQ:AMD
AMD Shares Rise 4.9% on Server-CPU Outlook as Forecast Grows by $37 Billion to $201 Billion
SANTA CLARA, California, August 26, 2026, 04:53 EDT – Shares of AMD climbed 4.9% after the company's server-CPU market forecast increased by $37 billion,…
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NASDAQ: AMD · Investor dashboard
Server CPUs become the new AI earnings lever
Raymond James' $201 billion market forecast pushed AMD 4.9% higher. The operating test is whether EPYC share gains sustain Data Center growth and a 56% gross margin.
Market data through August 25, 2026
Close 16:00 EDT · after hours 18:08 EDT
Prepared August 26, 2026, 04:57 EDT
Close 16:00 EDT · after hours 18:08 EDT
Prepared August 26, 2026, 04:57 EDT
Regular close
$479.18
+$22.38 · +4.90%
Market value
$795.0B
≈+$37.1B in one session
Volume
19.0M
August 25 regular session
After hours
$481.66
+0.52% at 18:08 EDT
What moved the stock
$400$460$520$580$640 $456.81Prior close $479.18Aug. 25 close $553.72Consensus target $641Raymond JamesPrice moveConsensus targetFresh bull target
Q2 revenue mix
Data Center generated 58% of AMD's $11.5 billion quarterly revenue. It more than doubled year over year, while Gaming fell 31%.
CPU share: volume versus value
0%10%20%30%40% 33.2%Unit share 46.2%Revenue shareMercury Research, Q1 2026 x86 server market. Higher revenue share indicates a premium product mix.
Financial signals and expectations
| Metric | Latest | Change / benchmark | Reading |
|---|---|---|---|
| Q2 revenue | $11.5B | +50% YoY | Record |
| Data Center revenue | $6.7B | More than doubled | Core bull case |
| Q3 revenue guide | $13.0B ± $0.3B | Consensus was $12.52B | Above Street |
| Q3 adjusted gross margin | 56% | Flat with Q2 | Scale must offset mix |
| Trailing P/E | ≈123× | Premium valuation | Execution-sensitive |
| Consensus target | $553.72 | +15.6% | Below Raymond James |
Why it rose
The upgrade changed the revenue lens. Raymond James expects CPUs, not only AI accelerators, to capture a large share of agentic-AI infrastructure spending. AMD's 46.2% server revenue share gives the forecast an operating bridge.
What confirms it
Sustained EPYC share gains, Data Center growth above company growth, the $13 billion Q3 guide, and a gross margin holding near 56% would support the repricing.
Risks
$201 billion is an analyst estimate, not backlog. Intel, Nvidia and Arm compete for server workloads. Foundry dependence, customer concentration and weak Gaming revenue can pressure margins.
AerospaceNYSE:BA
Boeing Stock Gains 0.3% as $131 Billion F-15 Ceiling Starts With $344,000
The Boeing Company shares ended 0.29% higher Tuesday after the U.S. Air Force awarded Boeing a ceiling contract worth $131.23 billion for its F-15…
Boeing · NYSE:BA · F-15 Eagle Crest
The $131.23B ceiling starts with $343,740
Checked Aug. 26, 2026
04:52 EDT · U.S. premarket
04:52 EDT · U.S. premarket
Aug. 25 close
$211.08
+0.29% · after hours $211.25
Market value
$166.83B
About +$490M Tuesday
Volume
4.85M
82% of 65-day average
Analyst consensus
Moderate Buy
22 analysts · $272.58 average target
Contract scale versus booked business
Ceiling / backlog1.54×Capacity comparison, not booked sales
Ceiling / Q2 BDS revenue17.5×Equivalent quarterly scale
Performance horizon2037Orders through 2031; option to 2036
Defense economics
| Q2 BDS revenue | $7.483B | +13% YoY |
| Q2 BDS operating margin | -0.2% | -1.9 pts YoY |
| BDS backlog | $85B | 27% international |
| Company cash + securities | $20.0B | Q2 end |
| Consolidated debt | $45.9B | Q2 end |
| VC-25B Q2 loss charge | $280M | Margin warning |
Latest defense-stock tape
| Company | Latest price | Move | Market cap | P/E |
|---|---|---|---|---|
| Boeing (BA) | $211.08 | +0.29% | $166.83B | 96.1× |
| Lockheed Martin (LMT) | $556.52 | -1.35% | $128.44B | 20.5× |
| General Dynamics (GD) | $376.58 | -1.88% | $101.89B | 23.0× |
| Northrop Grumman (NOC) | $542.52 | -1.24% | $77.25B | 17.3× |
Latest feed values checked Aug. 26 at 04:39 EDT; BA close and after-hours data are timestamped Aug. 25. Peer feeds may reflect their latest available extended-hours print.
What turns ceiling into cash
Aug. 24, 2026$131.23B ceiling awarded; $343,740 obligated
Through Aug. 2031Base ordering period for funded task orders
Option to Aug. 2036Government may extend ordering window
By Aug. 2037Expected completion horizon
Investor testOrders × margin × timingWatch funded task-order values, backlog recognition, supplier costs and BDS operating margin. A large ceiling alone does not guarantee revenue.
Valuation and next catalysts
Average target$272.5829.1% above Aug. 25 close
Target range$223–$305Current 22-analyst aggregation
Next earningsOct. 28Q3 2026: backlog, cash flow and BDS margin
Sources: U.S. contract notice dated Aug. 24, Boeing Q2 results dated July 28, WSJ market data, MarketBeat analyst aggregation and latest market feeds. Ratios are calculated from displayed inputs. Ceiling value is not guaranteed revenue or backlog.
Artificial IntelligenceNASDAQ:SMCI
Super Micro Shares Rise 9.35% After Cisco Announces October AI Factory Channel Launch
Super Micro Computer, Inc. gained 9.35% after Cisco launched an enterprise channel for its AI servers. Shares ended Tuesday at $38.46. Trading volume was…
Super Micro Computer · NASDAQ: SMCI
Cisco channel turns rack-scale AI demand into a margin test
Cisco begins offering Supermicro compute inside Secure AI Factory with NVIDIA in October 2026.
Market data: Aug. 25, 2026, 16:00 EDT
After-hours: 19:59 EDT
After-hours: 19:59 EDT
Close
$38.46
+$3.29 · +9.35%
Quoted value added
$2.13B
646.87M shares × $3.29
Trading activity
47.6M
Aug. 25 volume; 48.2M from consolidated snapshot
After-hours
$38.58
+0.30%
Seven-session price path
CloseObserved session
Quarterly operating pulse
| FY26 | Revenue | Gross margin | Net income |
|---|---|---|---|
| Q1 | $5.0B | 9.3% | $168M |
| Q2 | $12.7B | 6.3% | $401M |
| Q3 | $10.2B | 9.9% | $483M |
| Q4 | $11.1B | 17.5% | $1.18B |
Company-reported GAAP data; fiscal year ended June 30, 2026.
Guidance and balance-sheet signals
FY27 revenue guide$65B–$72B
Midpoint growth vs. FY26+75%
Q1 FY27 revenue guide$14.5B–$15.5B
FY26 cash$7.5B
Bank debt + convertibles$8.7B
Q4 operating cash flow$747M
AI infrastructure read-through · Aug. 25 close, 16:00 EDT
| Company | Close | Daily move | Signal |
|---|---|---|---|
| Super Micro (SMCI) | $38.46 | +9.35% | Cisco channel |
| Dell (DELL) | $451.50 | +4.23% | Server peer |
| HPE (HPE) | $53.44 | +1.93% | Server peer |
| Cisco (CSCO) | $111.11 | +0.80% | Platform owner |
Catalyst clock
AUG 11
Fiscal Q4 results17.5% gross margin; FY27 revenue guide reaches $72B.
AUG 25
Cisco partnershipRack-scale liquid- and air-cooled compute enters Secure AI Factory.
OCTOBER
Commercial availabilityFirst announced month for Cisco to offer Supermicro systems.
Investor takeaway
The Cisco channel validates Supermicro’s rack-scale position, but Tuesday’s $2.13B value gain arrived before any disclosed orders.
The clean confirmation would be sustained enterprise revenue plus gross margin near Q4’s 17.5%, rather than a return toward the 6%–10% range seen earlier in fiscal 2026.
The clean confirmation would be sustained enterprise revenue plus gross margin near Q4’s 17.5%, rather than a return toward the 6%–10% range seen earlier in fiscal 2026.