Investors torn between the safety of mega-cap names and the upside of smaller, faster-growing companies have two low-cost options to consider: the Vanguard Morningstar Growth ETF (NYSEMKT:VUG) and the iShares Morningstar Small-Cap Growth ETF (NYSEMKT:ISCG). VUG leans into the largest, most dominant companies driving the U.S. economy, resulting in a very tech-heavy portfolio. ISCG casts a much wider net across smaller companies with high growth potential.
Beta
Metric
ISCG
VUG

#nysemkt #beta

The London Company, an investment management company, released its second-quarter 2026 investor letter for its "Small-Mid Cap Strategy." The letter can be downloaded here. U.S. equities rebounded sharply in Q2, with the Russell 3000 gaining 15.4%, supported by AI infrastructure spending, strong earnings, and easing Middle East tensions. Technology led the rally as semiconductors recovered, while Energy and defensive sectors lagged. The portfolio returned 12.1% gross and 11.8% net compared with a 20.3% gain in the Russell 2500 Index. Stock selection weighed on relative performance, as high-beta and high-volatility stocks dominated returns while Quality remained weak, although results improved in June as market participation broadened. Looking ahead, resilient earnings and AI productivity support a constructive outlook, but negative hyperscaler cash flow, sticky inflation, geopolitical risks, index concentration, and elevated valuations warrant caution. The strategy continues to emphasize quality, downside protection, and active management. Additionally, reviewing the Fund's top five holdings could also highlight its best ideas for 2026.
In its second-quarter 2026 investor letter, London Company SMID Cap Strategy highlighted White Mountains Insurance Group, Ltd. (NYSE:WTM). Headquartered in Hamilton, Bermuda, White Mountains Insurance Group, Ltd. (NYSE:WTM) is an insurance and other financial services provider. On August 26, 2026, White Mountains Insurance Group, Ltd. (NYSE:WTM) closed at $2,132.74 per share. Over the past month, White Mountains Insurance Group, Ltd. (NYSE:WTM) returned 0.39%, while its shares have gained 16.52% in the last 52 weeks. White Mountains Insurance Group, Ltd. (NYSE:WTM) has a market capitalization of $5.09 billion.
London Company SMID Cap Strategy stated the following regarding White Mountains Insurance Group, Ltd. (NYSE:WTM) in its Q2 2026 investor letter:
"White Mountains Insurance Group, Ltd. (NYSE:WTM) lagged during an otherwise uneventful quarter following strong prior period performance driven by the Bamboo transaction. The shares also benefited less from the broader market rebound after proving relatively defensive earlier in the year. We remain confident in management's disciplined capital allocation and ability to compound book value per share over the long term."
White Mountains Insurance Group, Ltd. (NYSE:WTM) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held White Mountains Insurance Group, Ltd. (NYSE:WTM) at the end of the second quarter which was 22 in the previous quarter. While we acknowledge the potential of White Mountains Insurance Group, Ltd. (NYSE:WTM) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the

The London Company, an investment management company, released its second-quarter 2026 investor letter for its "Small-Mid Cap Strategy." The letter can be downloaded here. U.S. equities rebounded sharply in Q2, with the Russell 3000 gaining 15.4%, supported by AI infrastructure spending, strong earnings, and easing Middle East tensions. Technology led the rally as semiconductors recovered, while Energy and defensive sectors lagged. The portfolio returned 12.1% gross and 11.8% net compared with a 20.3% gain in the Russell 2500 Index. Stock selection weighed on relative performance, as high-beta and high-volatility stocks dominated returns while Quality remained weak, although results improved in June as market participation broadened. Looking ahead, resilient earnings and AI productivity support a constructive outlook, but negative hyperscaler cash flow, sticky inflation, geopolitical risks, index concentration, and elevated valuations warrant caution. The strategy continues to emphasize quality, downside protection, and active management. Additionally, reviewing the Fund's top five holdings could also highlight its best ideas for 2026.
In its second-quarter 2026 investor letter, London Company SMID Cap Strategy highlighted Churchill Downs Incorporated (NASDAQ:CHDN). Churchill Downs Incorporated (NASDAQ:CHDN) operates live and historical racing entertainment venues, online wagering businesses, and regional casino gaming properties in the United States. On August 26, 2026, Churchill Downs Incorporated (NASDAQ:CHDN) closed at $87.57 per share. Over the past month, Credit Acceptance Corporation (NASDAQ:CACC) returned 4.40%, while its shares have declined 16.08% in the last 52 weeks. Credit Acceptance Corporation (NASDAQ:CACC) has a market capitalization of $6.10 billion.
London Company SMID Cap Strategy stated the following regarding Churchill Downs Incorporated (NASDAQ:CHDN) in its Q2 2026 investor letter:
"Churchill Downs Incorporated (NASDAQ:CHDN) declined despite solid operating results as Derby Week growth fell slightly short of elevated investor expectations. The business continues to execute well, supported by strong Historical Racing Machine growth, improving leverage, and healthy cash flow generation. We believe the recent weakness is disconnected from the underlying fundamentals and remain confident in the company's ability to compound earnings through disciplined capital allocation, pricing power, and continued investment in its differentiated gaming and racing **** ets."

#strategy

The London Company, an investment management company, released its second-quarter 2026 investor letter for its "Small-Mid Cap Strategy." The letter can be downloaded here. U.S. equities rebounded sharply in Q2, with the Russell 3000 gaining 15.4%, supported by AI infrastructure spending, strong earnings, and easing Middle East tensions. Technology led the rally as semiconductors recovered, while Energy and defensive sectors lagged. The portfolio returned 12.1% gross and 11.8% net compared with a 20.3% gain in the Russell 2500 Index. Stock selection weighed on relative performance, as high-beta and high-volatility stocks dominated returns while Quality remained weak, although results improved in June as market participation broadened. Looking ahead, resilient earnings and AI productivity support a constructive outlook, but negative hyperscaler cash flow, sticky inflation, geopolitical risks, index concentration, and elevated valuations warrant caution. The strategy continues to emphasize quality, downside protection, and active management. Additionally, reviewing the Fund's top five holdings could also highlight its best ideas for 2026.
In its second-quarter 2026 investor letter, London Company SMID Cap Strategy highlighted Entegris, Inc. (NASDAQ:ENTG) as a leading contributor. Headquartered in Billerica, Massachusetts, Entegris, Inc. (NASDAQ:ENTG) provides materials and process solutions for the semiconductor and other high-technology industries. On August 26, 2026, Entegris, Inc. (NASDAQ:ENTG) closed at $142.46 per share, reflecting a market capitalization of $21.77 billion. Entegris, Inc. (NASDAQ:ENTG) posted a one‑month return of 22.74%, while its shares gained 71.40% over the past 52 weeks.
London Company SMID Cap Strategy stated the following regarding Entegris, Inc. (NASDAQ:ENTG) in its Q2 2026 investor letter:
"Entegris, Inc. (NASDAQ:ENTG) was a top contributor, benefiting from improving semiconductor demand, accelerating AI investment, and rising fab utilization. Beyond the industry recovery, management outlined a clear path to structurally higher earnings through manufacturing optimization, improved working capital, and rebuilding the operating model over time. We remain attracted to ENTG's strong competitive position, high barriers to entry, and long runway for free cash flow expansion."
Entegris, Inc. (NASDAQ:ENTG) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Entegris, Inc. (NASDAQ:ENTG) at the end of the second quarter, the same as in the previous quarter. While we acknowledge the potential of Entegris, Inc. (NASDAQ:ENTG) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

#entg #Stock

The London Company, an investment management company, released its second-quarter 2026 investor letter for its "Small-Mid Cap Strategy." The letter can be downloaded here. U.S. equities rebounded sharply in Q2, with the Russell 3000 gaining 15.4%, supported by AI infrastructure spending, strong earnings, and easing Middle East tensions. Technology led the rally as semiconductors recovered, while Energy and defensive sectors lagged. The portfolio returned 12.1% gross and 11.8% net compared with a 20.3% gain in the Russell 2500 Index. Stock selection weighed on relative performance, as high-beta and high-volatility stocks dominated returns while Quality remained weak, although results improved in June as market participation broadened. Looking ahead, resilient earnings and AI productivity support a constructive outlook, but negative hyperscaler cash flow, sticky inflation, geopolitical risks, index concentration, and elevated valuations warrant caution. The strategy continues to emphasize quality, downside protection, and active management. Additionally, reviewing the Fund's top five holdings could also highlight its best ideas for 2026.
In its second-quarter 2026 investor letter, London Company SMID Cap Strategy highlighted Credit Acceptance Corporation (NASDAQ:CACC). Credit Acceptance Corporation (NASDAQ:CACC) engages in the provision of financing programs and related products and services in the United States. On August 26, 2026, Credit Acceptance Corporation (NASDAQ:CACC) closed at $593.64 per share. Over the past month, Credit Acceptance Corporation (NASDAQ:CACC) returned 8.39%, while its shares have gained 18.09% in the last 52 weeks. Credit Acceptance Corporation (NASDAQ:CACC) has a market capitalization of $6.16 billion.
London Company SMID Cap Strategy stated the following regarding Credit Acceptance Corporation (NASDAQ:CACC) in its Q2 2026 investor letter:
"Credit Acceptance Corporation (NASDAQ:CACC) outperformed following signs of improving credit performance, while lower fuel prices eased concerns surrounding subprime borrowers. Credit trends continue to improve, and the company remains disciplined in repurchasing shares. We believe the investment thesis remains on track as fundamentals continue to strengthen."
Credit Acceptance Corporation (NASDAQ:CACC) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Credit Acceptance Corporation (NASDAQ:CACC) at the end of the second quarter which was 31 in the previous quarter. While we acknowledge the potential of Credit Acceptance Corporation (NASDAQ:CACC) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

#credit #cacc #company #letter

Vasco and Vitória have announced their lineups to start the Copa do Brasil quarterfinal clash.
The first leg, this Wednesday (26), will be played at São Januário stadium. The return leg is scheduled for next Wednesday (2) at Barradão.
Whoever advances from this tie will face Palmeiras or Santos in the semifinal.
OneFootball is broadcasting Vasco x Vitória and all the other Copa Betano do Brasil matches internationally! Click here for more details.
See below the starting lineups for the match:

#vasco #wednesday #janu #palmeiras

Lavish Enterprises (USOTC:VXIT) has introduced FleetPath Ace, an autonomous trucking operator designed to perform defined operational tasks across dispatch, billing, safety, maintenance, finance and other carrier functions, with live autonomous execution planned as part of FleetPath's beta rollout.
FleetPath Ace is designed to automate operational work including invoicing checks, detention monitoring, compliance, document processing and maintenance requirements.
Lavish Enterprises (USOTC:VXIT) says the underlying architecture, authority controls, spending controls and recordkeeping have already been built and are undergoing automated testing.
Live autonomous execution is expected to begin during FleetPath's beta rollout, although certain functions remain disabled while testing continues.
Management believes broader use of FleetPath Ace within individual carriers could deepen customer relationships and potentially create additional future revenue opportunities.

#designed

GDX sits 22% below its peak despite gold at record $4,270, while GDXJ's junior miners deliver the operational leverage the seniors are missing.
GLDM tracks bullion at a lower cost than GDX, making it the cleaner choice for investors seeking a pure hedge over mining equity exposure.
Read More: Learn 7 secret wealth tips high net worth investors use that most investors miss (sponsor)
Gold trading near $4,270 should have been a coronation for VanEck Gold Miners ETF (NYSEARCA:GDX). Instead, GDX holders own a fund that has gained 76.34% over the past year, yet still sits roughly 22% below its 52-week high of $117.16. The gap between the metal and the miners is the core reason to own GDX, and that gap remains wide. A related VanEck product has historically closed it, and most GDX holders already know its name without owning it.
GDX is the default vehicle for gold-mining equity exposure. It holds the majors, with Newmont at 10.37%, Agnico Eagle at 10.12%, and Barrick at 6.01%, and the top 10 positions account for 56.30% of **** ets. Investors buy it because it turns a directional view on bullion into equity beta without picking a single miner. Fees are reasonable at 0.51%, and the fund carries a beta of 0.67 against the broader market, which is why it slots into diversification buckets. Those are the reasons GDX sits in so many portfolios.

#Gold #vaneck #bullion #mining

Dollar General (DG) wins the portfolio battle over Best Buy (BBY) with a beta of 0.235, a defensive consumables mix, and just-raised full-year EPS guidance.
Best Buy's 91% Polymarket earnings beat probability looks compelling, but its stock at $85 already trades above **** ysts' $83 consensus target.
Read More: Learn 7 secret wealth tips high net worth investors use that most investors miss (sponsor)
Dollar General (NYSE:DG) and Best Buy (NYSE:BBY) both report results before the market opens on Thursday, August 27, 2026, and they present the retirement-focused investor with the same trade dressed two different ways. Both sell to a strained American consumer. One is a low-beta consumer defensive name. The other is a higher-beta consumer cyclical. The question is which risk profile earns the seat in the portfolio ahead of Thursday's earnings releases.
Beta measures how much a stock tends to move relative to the broader market. Below 1.0 means the stock historically moves less than the index. Above 1.0 means it moves more. Dollar General's beta is 0.235, one of the lowest readings in retail, and the company is in the Consumer Defensive sector, where roughly 82% of the mix is everyday consumables that customers buy in any economy. Best Buy has a beta of 1.317 and sits in Consumer Cyclical, tethered to televisions, appliances, and computing upgrade cycles that households defer when budgets tighten.

#Consumer #best #defensive #above

TG Therapeutics (TGTX) shares soared on Aug 21 as speculation emerged that the biotech firm could be the target of a potential takeover. Investors cheered TGTX following an "uncooked" alert from Betaville, suggesting a U.S. biopharma company with a market cap between $20 billion and $40 billion may be interested in acquiring TG Therapeutics.
Following the meteoric rally on Friday, TG Therapeutics stock is up about 85% versus the start of this year.
Microsoft vs. Broadcom: One Has 85% Upside, But I'm Picking the Other
Google Lost About $186 Billion After 4 of Its Top AI Researchers Left, but Sundar Pichai Says Google Will Be 'A Founding Investor' Anyway
Rocket Lab and AST ******* eMobile Are Priced for the Big Bang. One ******* e Stock Already Delivered.

#billion #investors #betaville #Friday

Headquartered in Boston, Massachusetts, Vertex Pharmaceuticals Incorporated (VRTX) is a biotechnology company that develops innovative medicines for serious diseases, including cystic fibrosis (CF), sickle cell disease, beta thalassemia, and acute pain.
Moreover, the company is building beyond its approved treatments with potential therapies targeting genetic and other complex conditions, including kidney, metabolic, and neuromuscular diseases.
Here Is How to Play Tesla Stock After Its Robotaxi Breakthrough
Micron Stock Pullback: High Growth, Low Multiple Support Upside
Strategy Just Sold $334 Million in Shares to Build Cash and Buy Back Preferred Stock. This Hits MSTR Stock Holders With Dilution.

#including #headquartered

On August 11, Bicara Therapeutics (NASDAQ:BCAX) used its second-quarter earnings call to deliver two headlines at once. CEO Claire Mazumdar announced she will step into a Vice Chair and Strategic Adviser role at the start of next year, handing the top job to President and Chief Operating Officer Ryan Cohlhepp. That handoff arrives just as the company points to fresh survival data for ficerafusp alfa, its lead drug candidate for frontline recurrent or metastatic HPV-negative head and neck cancer, and pushes its pivotal trial toward a critical readout.
At May's ASCO meeting, Bicara presented three-year follow-up data spanning roughly 90 patients across three dose cohorts, the longest follow-up reported for any investigational agent in HPV-negative head and neck cancer. At the 1,500 milligram weekly pivotal dose, about one in three patients was still alive at three years, roughly double the survival rate seen in retrospective **** yses of standard-of-care pembrolizumab in this population. Management ties that benefit to the drug's TGF-beta inhibition, which it says drives tumor penetration and immune cell infiltration rather than blocking a single pathway. Overall survival nearly doubled against the standard of care while the safety profile stayed consistent, the company said.
Execution on the pivotal Phase III FORTIFI-HN01 study has kept pace. Bicara says it is on track for substantial enrollment by the end of 2026, with more than 200 sites now active, positioning the trial for a mid-2027 interim readout that could open the door to accelerated approval. The company also launched FORTIFI-FLEX, a study of an every-three-week maintenance dose built on encouraging results from an exploratory every-two-week cohort shown earlier this year, with data targeted for the time of any U.S. approval decision. Beyond the core indication, Bicara points to early proof of concept in cutaneous squamous cell carcinoma and **** canal cancer, backed by roughly $497 million in cash that management says funds operations through the first half of 2029.
The leadership overhaul goes well beyond the CEO chair. Jenn Larson took over as Chief Financial Officer the day after the call, succeeding Ivan Hyep, who had a hand in raising over $800 million for the company since its early days. Two more transitions take effect in January: Chief Development Officer Tanya Green moves into the Chief Operating Officer seat, and Chief Corporate Affairs Officer Jenna Cohen becomes Chief Business Officer. A new Chief Legal Officer and two new board members are joining as well, a lot of change concentrated in a single quarter right as the company approaches its most consequential trial milestone.

#bicara #three #survival #cancer

On August 11, Bicara Therapeutics (NASDAQ:BCAX) used its second-quarter earnings call to deliver two headlines at once. CEO Claire Mazumdar announced she will step into a Vice Chair and Strategic Adviser role at the start of next year, handing the top job to President and Chief Operating Officer Ryan Cohlhepp. That handoff arrives just as the company points to fresh survival data for ficerafusp alfa, its lead drug candidate for frontline recurrent or metastatic HPV-negative head and neck cancer, and pushes its pivotal trial toward a critical readout.
At May's ASCO meeting, Bicara presented three-year follow-up data spanning roughly 90 patients across three dose cohorts, the longest follow-up reported for any investigational agent in HPV-negative head and neck cancer. At the 1,500 milligram weekly pivotal dose, about one in three patients was still alive at three years, roughly double the survival rate seen in retrospective ****** yses of standard-of-care pembrolizumab in this population. Management ties that benefit to the drug's TGF-beta inhibition, which it says drives tumor penetration and immune cell infiltration rather than blocking a single pathway. Overall survival nearly doubled against the standard of care while the safety profile stayed consistent, the company said.
Execution on the pivotal Phase III FORTIFI-HN01 study has kept pace. Bicara says it is on track for substantial enrollment by the end of 2026, with more than 200 sites now active, positioning the trial for a mid-2027 interim readout that could open the door to accelerated approval. The company also launched FORTIFI-FLEX, a study of an every-three-week maintenance dose built on encouraging results from an exploratory every-two-week cohort shown earlier this year, with data targeted for the time of any U.S. approval decision. Beyond the core indication, Bicara points to early proof of concept in cutaneous squamous cell carcinoma and ****** canal cancer, backed by roughly $497 million in cash that management says funds operations through the first half of 2029.
The leadership overhaul goes well beyond the CEO chair. Jenn Larson took over as Chief Financial Officer the day after the call, succeeding Ivan Hyep, who had a hand in raising over $800 million for the company since its early days. Two more transitions take effect in January: Chief Development Officer Tanya Green moves into the Chief Operating Officer seat, and Chief Corporate Affairs Officer Jenna Cohen becomes Chief Business Officer. A new Chief Legal Officer and two new board members are joining as well, a lot of change concentrated in a single quarter right as the company approaches its most consequential trial milestone.

#three

Brown Brothers Harriman, an investment management company, released its Q2 2026 investor letter for the "BBH Select Mid Cap ETF". A copy of the letter can be downloaded here. In the quarter, the fund increased 9.7% on a total return basis compared to the Russell Midcap Index's 13.8% return. Artificial intelligence is a key factor influencing market performance, with high-valuation and high-beta companies consistently outperforming others. The portfolio saw gains from being overweight in technology and industrials but missed opportunities due to underweighting more cyclical stocks. At the end of Q2 2026, the Fund held positions in 27 companies, with 48% of ***** ets concentrated in the top 10 holdings. The Fund's strategy focuses on companies priced below intrinsic value to ensure a margin of safety, rather than on whether valuations are high or low. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.
In its Q2 2026 investor letter, BBH Select Mid Cap ETF highlighted Darling Ingredients Inc. (NYSE:DAR). Darling Ingredients Inc. (NYSE:DAR) is a leader in converting edible and inedible bio-nutrients to sustainable natural ingredients. On August 19, 2026, Darling Ingredients Inc. (NYSE:DAR) closed at $66.94 per share, reflecting a market capitalization of $10.56 billion. Darling Ingredients Inc. (NYSE:DAR) posted a one-month return of 5.58%, while its shares gained 110.37% over the past 52 weeks.
BBH Select Mid Cap ETF stated the following regarding Darling Ingredients Inc. (NYSE:DAR) in its Q2 2026 investor letter:
"The Fund's largest detractors to performance in the quarter were Guidewire Software Inc. (Guidewire) and Darling Ingredients Inc. (NYSE:DAR). Darling returned -11.7% during the quarter, ending with a weight of 4.0% after trimming the position early in the quarter on strength. Darling is the global leader in rendering animal byproducts and used cooking oil into fats and proteins for a variety of end uses, including animal feed, specialty health products, and renewable diesel through a joint venture with Valero called Diamond Green Diesel (DGD). Darling reported stronger than expected first quarter 2026 results, driven by better performance in the core Feed and Food segments, as well as stronger margins at DGD. Notwithstanding lower oil prices at quarter- end, Darling is extremely well-positioned for significantly improved profitability, with long-awaited certainty on government mandates finalized at the end of first quarter 2026, which will support both margins at DGD and higher Feed prices. These end markets are further benefiting from higher prices as a result of the recent conflict in the Middle East. The full benefit of recent development will start to be apparent in second quarter 2026."

#darling #select #investor #return

Brown Brothers Harriman, an investment management company, released its Q2 2026 investor letter for the "BBH Select Mid Cap ETF". A copy of the letter can be downloaded here. In the quarter, the fund increased 9.7% on a total return basis compared to the Russell Midcap Index's 13.8% return. Artificial intelligence is a key factor influencing market performance, with high-valuation and high-beta companies consistently outperforming others. The portfolio saw gains from being overweight in technology and industrials but missed opportunities due to underweighting more cyclical stocks. At the end of Q2 2026, the Fund held positions in 27 companies, with 48% of **** ets concentrated in the top 10 holdings. The Fund's strategy focuses on companies priced below intrinsic value to ensure a margin of safety, rather than on whether valuations are high or low. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.
In its Q2 2026 investor letter, BBH Select Mid Cap ETF highlighted Guidewire Software, Inc. (NYSE:GWRE). Guidewire Software, Inc. (NYSE:GWRE) provides a platform for property and casualty (P&C) insurers. On August 19, 2026, Guidewire Software, Inc. (NYSE:GWRE) closed at $181.18 per share, reflecting a market capitalization of $15.08 billion. Guidewire Software, Inc. (NYSE:GWRE) posted a one‑month return of 37.91%, while its shares lost 14.98% over the past 52 weeks.
BBH Select Mid Cap ETF stated the following regarding Guidewire Software, Inc. (NYSE:GWRE) in its Q2 2026 investor letter:
"The Fund's largest detractors to performance in the quarter were Guidewire Software, Inc. (NYSE:GWRE) and Dar ling Ingredients Inc. (Darling). Guidewire declined -17.7% during the quarter, ending with a weight of 3.1%. Guidewire is the leading provider of core systems software to the property and casualty (P&C) insurance industry. Guidewire reported strong fiscal third quarter results (its fiscal year ends in July), with revenue growth of 27% and profitability well ahead of guidance, and management raised full-year guidance for both. The shares nevertheless declined because annual recurring revenue (ARR) growth of 19% finished at the midpoint of guidance, the first quarter since 2022 that ARR did not meet or exceed the high end of its guidance, as a couple of deals slipped past quarter end. We believe the slippage reflects timing rather than demand. The pipeline remains healthy, and management noted the fiscal fourth quarter is off to a good start and could be a record quarter. Fully ramped ARR continues to grow faster than reported ARR, and management expects it to grow above the 22% achieved in fiscal year 25, which supports continued growth into future years. While AI is perceived as a risk by the market, a modern core system is a prerequisite for insurers to deploy AI, and early customer pilots using AI tooling have reduced cloud migration costs by approximately 35%, lowering the largest cost barrier to modernizatio

Brown Brothers Harriman, an investment management company, released its Q2 2026 investor letter for the "BBH Select Mid Cap ETF". A copy of the letter can be downloaded here. In the quarter, the fund increased 9.7% on a total return basis compared to the Russell Midcap Index's 13.8% return. Artificial intelligence is a key factor influencing market performance, with high-valuation and high-beta companies consistently outperforming others. The portfolio saw gains from being overweight in technology and industrials but missed opportunities due to underweighting more cyclical stocks. At the end of Q2 2026, the Fund held positions in 27 companies, with 48% of **** ets concentrated in the top 10 holdings. The Fund's strategy focuses on companies priced below intrinsic value to ensure a margin of safety, rather than on whether valuations are high or low. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.
In its Q2 2026 investor letter, BBH Select Series – Mid Cap ETF highlighted Entegris, Inc. (NASDAQ:ENTG). Headquartered in Billerica, Massachusetts, Entegris, Inc. (NASDAQ:ENTG) provides materials and process solutions for the semiconductor and other high-technology industries. On August 19, 2026, Entegris, Inc. (NASDAQ:ENTG) closed at $144.28 per share, reflecting a market capitalization of $22.05 billion. Entegris, Inc. (NASDAQ:ENTG) posted a one‑month return of 6.64%, while its shares gained 75.76% over the past 52 weeks.
BBH Select Series – Mid Cap ETF stated the following regarding Entegris, Inc. (NASDAQ:ENTG) in its Q2 2026 investor letter:
"For the quarter, the Fund's largest positive contributors were Entegris, Inc. (NASDAQ:ENTG) and Arista Networks Inc. (Arista), both clear beneficiaries of the AI infrastructure buildout. Entegris returned 53.5% during the quarter, ending with a weight of 6.4%. Entegris is a key supplier to the semiconductor industry of essential filtration products, materials, and related delivery equipment that enables the high precision fabrication of semiconductor chips. Entegris reported strong first quarter 2026 results and provided second quarter guidance above consensus with accelerating growth in second and third quarter 2026. This matches an upgraded view of industry end markets, with wafer volumes now expected to grow mid- to-high-single digits for 2026 and fab construction to grow high-single digits, both of which were low-single digits expectations just last quarter. Relatively new CEO Dave Reeder indicated a focus on gross margins when he started, and that is evident from the substantial im provement in first quarter 2026 that is expected to continue over the year. Gross margin of 46.9% was significantly above guidance of 44.5-45.5% and increased 310 basis points (bps)1 from fourth quarter 2025. Lastly, Entegris now aims to bring net leverage to 3.0x by year end, driven by robust free cash flow of at least $450m."

#entg #select

Brown Brothers Harriman, an investment management company, released its Q2 2026 investor letter for the "BBH Select Mid Cap ETF". A copy of the letter can be downloaded here. In the quarter, the fund increased 9.7% on a total return basis compared to the Russell Midcap Index's 13.8% return. Artificial intelligence is a key factor influencing market performance, with high-valuation and high-beta companies consistently outperforming others. The portfolio saw gains from being overweight in technology and industrials but missed opportunities due to underweighting more cyclical stocks. At the end of Q2 2026, the Fund held positions in 27 companies, with 48% of ******* ets concentrated in the top 10 holdings. The Fund's strategy focuses on companies priced below intrinsic value to ensure a margin of safety, rather than on whether valuations are high or low. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.
In its Q2 2026 investor letter, BBH Select Mid Cap ETF highlighted Arista Networks, Inc. (NYSE:ANET) as one of its leading performance contributors. Arista Networks, Inc. (NYSE:ANET) is a high-speed switching and cloud networking solutions provider for hyperscale users. On August 19, 2026, Arista Networks, Inc. (NYSE:ANET) closed at $186.45 per share, reflecting a market capitalization of $235.15 billion. Arista Networks, Inc. (NYSE:ANET) posted a one‑month return of 5.94%, while its shares gained 41.71% over the past 52 weeks.
BBH Select Mid Cap ETF stated the following regarding Arista Networks, Inc. (NYSE:ANET) in its Q2 2026 investor letter:
"For the quarter, the Fund's largest positive contributors were Entegris Inc. (Entegris) and Arista Networks, Inc. (NYSE:ANET), both clear beneficiaries of the AI infrastructure buildout. Arista returned 38.4% during the quarter, ending with a weight of 5.1%. Arista is the leading provider of data center switches to cloud network customers. Arista reported strong first quarter results with record revenue and free cash flow ahead of expectations, but guidance fell short of high expectations due to increasing supply chain short ages. In addition, extended customer acceptance cycles on new AI products have pushed a growing volume of contracted demand into deferred revenue ahead of recognition, temporarily understating reported revenue growth and creating some investor confusion. However, management subsequently clarified this dynamic, clearly delin eating 54% growth inclusive of deferred product revenue. Management also expressed confidence in the outlook for 2026 along with a constructive demand backdrop for 2027. Finally, rising component costs are an industry-wide challenge, but Arista's multiyear supply commitments and execution track record leave us confident in their ability to execute throughout the next several years. Gross margin guidance of 62% to 64% was maintained despite the rising input cost pressures. Management also continues to expect one or pos

(Bloomberg) -- Alibaba Group Holding Ltd. launched the beta version of an artificial intelligence music-generation model that can turn a single text prompt into a fully produced song, expanding the Chinese technology giant's push into generative AI.
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#bloomberg #group #holding

Jefferies initiated AEHR with a Buy rating and $175 target, calling its model conservative and excluding memory wins and AI customer upside.
COHU gained 151% and TER rose 112% year to date as AI chip complexity drives demand for more intensive semiconductor testing.
AEHR carries extreme valuation risk with a beta of 3.09, a recent 43% YoY revenue drop, and steady CEO and CFO insider selling.
Don't wait: the ****** yst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now.
Shares of Aehr Test Systems (NASDAQ:AEHR) are up roughly 8% in Friday midday, after a fresh Wall Street initiation lit another fire under one of 2026's most explosive small caps. The move extends a year-to-date advance of 510.7% and pushes the stock through its 52-week high of $133.35.

#date #free

At first glance, Vistra Corp (VST) doesn't seem like a particularly great investment. It's not just for the matter that VST stock has incurred an 88% Strong Sell rating by the Barchart Technical Opinion indicator, though that is an obvious distraction. Primarily, the ticker's 60-month beta translates to an incredibly choppy trajectory that puts confidence in short supply.
However, as an options trade, we may be able to leverage the wild dynamics of VST stock to our benefit. In essence, Vistra represents a fundamentally relevant enterprise, thanks to the company's integrated retail electricity and power generation. Naturally, artificial intelligence has very strong implications for VST's broader trend.
Complacency in Gold May Be Hiding the Next Big Move
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#Stock #barchart #technical

Cruzeiro and Atlético-MG will compete for a spot in the Copa Betano do Brasil semifinalCredits: Gustavo Aleixo/Cruzeiro
CBF held the draw for the quarterfinals of the 2026 Copa do Brasil this Tuesday (11), in Rio de Janeiro, which will feature, for the first time since 1989, three state derby matchups. On one side of the bracket, the competition will have the clashes between Internacional x Grêmio and Cruzeiro x Atlético-MG. On the other, Vasco x Vitória and Palmeiras x Santos.
Of these four matchups, two have previously decided the tournament: the Minas Gerais derby, Atlético-MG x Cruzeiro, in 2014, when Galo were crowned champions, and the São Paulo derby, Palmeiras x Santos, in 2015, when Alviverde lifted the trophy.
Historically, all four matchups have taken place before. Grêmio and Inter faced each other only once, in 1992, in the quarterfinals, when Colorado advanced on penalties. Cruzeiro and Atlético-MG, in addition to the 2014 final, met in the quarterfinals in 2019 and 2025, with one victory for each side.
Grêmio and Internacional will face each other in the quarterfinals of the 2026 Copa Betano do BrasilCredits: Ricardo Duarte/SC Internacional

#cruzeiro #copa #matchups #betano

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Management is executing a planned leadership transition, elevating Ryan Cohlhepp to CEO to leverage his commercial oncology experience as the company nears potential launch.
The company's strategic focus remains on the pivotal Phase III FORTIFI-HN01 study for HPV-negative head and neck cancer, which is on track for substantial enrollment by year-end.
Three-year follow-up data presented at ASCO 2026 demonstrated that TGF-beta inhibition nearly doubled overall survival versus standard of care pembrolizumab in the pivotal dose cohort.
Management attributes clinical success to the mechanistic foundation of TGF-beta inhibition, which drives deeper tumor penetration and immune cell infiltration compared to standard EGFR-directed therapies.

#management #year

Baron Capital, an investment management company, released its Q2 2026 investor letter for the "Baron Discovery Fund". A copy of the letter is available to download here. Baron Discovery Fund appreciated by 19.08% (Institutional Shares) in the quarter, underperforming the Russell 2000 Growth Index, which gained 25.71%. This lag was primarily due to a momentum-driven "AI winners" trade, with these stocks largely contributing to the Benchmark's performance. The Fund experienced a 6.63% underperformance, largely driven by an underweight in strong-performing Momentum and Beta factors. The Fund prioritizes a long-term balanced portfolio over chasing momentum. The letter discussed parallels between the current AI market and the late 1990s dot-com bubble. The firm remains focused on company fundamentals and long-term valuation. Please review the fund's top five holdings to gain insights into their key selections for 2026.
In its Q2 2026 investor letter, Baron Discovery Fund highlighted Forgent Power Solutions, Inc. (NYSE:FPS) as a leading contributor to performance. Forgent Power Solutions, Inc. (NYSE:FPS) is a leading industrial company that designs and manufactures electrical distribution equipment used in data centers, the power grid, and energy-intensive industrial facilities. On August 10, 2026, Forgent Power Solutions, Inc. (NYSE:FPS) closed at $37.60 per share, reflecting a market capitalization of $11.45 billion. Forgent Power Solutions, Inc. (NYSE:FPS) posted a one-month return of -6.12%.
Baron Discovery Fund stated the following regarding Forgent Power Solutions, Inc. (NYSE:FPS) in its Q2 2026 investor letter:
"Forgent Power Solutions, Inc. (NYSE:FPS) is a leading manufacturer of electrical distribution equipment used in data centers, the power grid, and industrial applications. Forgent is a low- and medium voltage equipment specialist focused on custom, "engineered-to order" products (over 90% of revenue) whereas larger competitors in the industry generally focus more on higher voltage and standard products. The stock rose during the quarter as Forgent continued to deliver very strong financial results reflecting improving demand for its products amidst the broader data points on AI infrastructure and grid buildout continuing to point to strong growth for the next several years. Forgent is gaining share with its ability to offer customized products at industry-leading lead times and is still just scratching the surface of its opportunity having sold very little directly to the biggest customers in the market. The company has invested heavily in capacity and people to support future growth, and we see many strong years of growth and margin expansion ahead as it grows from an approximate $1.2 billion revenue run rate currently into its $5 billion manufacturing footprint."

#fund #baron #discovery #Growth

Conestoga Capital Advisors, an ***** et management company, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter reports a positive market shift towards Small Caps, with the Russell 2000 Index achieving its best first half since 1991 and the Russell 2000 Growth Index up 25.7% in Q2, fueled by AI enthusiasm and semiconductor stocks. However, market leadership was uneven, mirroring the Tech Bubble, as high-beta stocks outperformed while high-quality companies lagged, impacting Conestoga's quality-focused strategies. Management expressed confidence in long-term outcomes, noting that speculative leadership won't last as monetary policy tightens and market breadth improves. The firm remains committed to high-quality growth businesses, expecting these to regain favor as leadership broadens. The Conestoga Small Cap Composite returned 14.32% net-of-fees in the second quarter, with 25.71% for the Russell 2000 Growth Index. Narrow Index leadership hurt the relative results, but it also hid Composite improvements. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Conestoga Capital Advisors highlighted Kodiak Gas Services, Inc. (NYSE:KGS). Kodiak Gas Services, Inc. (NYSE:KGS), an independent contract compression infrastructure provider for customers in the oil and gas industry, was added to the firm's Small Cap Composite this quarter. On August 4, 2026, Kodiak Gas Services, Inc. (NYSE:KGS) closed at $59.54 per share, reflecting a market capitalization of $6.01 billion. Kodiak Gas Services, Inc. (NYSE:KGS) posted a one-month return of -14.77%, while its shares gained 86.24% over the past 52 weeks.
Conestoga Capital Advisors stated the following regarding Kodiak Gas Services, Inc. (NYSE:KGS) in its Q2 2026 investor letter:
"Kodiak Gas Services, Inc. (NYSE:KGS) provides contract natural gas compression and distributed power solutions to energy infrastructure customers. We believe the company is well positioned to benefit from growing demand for natural gas infrastructure, LNG exports, and power generation supporting AI-related data center development. Long term customer contracts, industry-leading fleet utilization, and expansion into distributed power provide multiple avenues for durable growth and cash flow generation."
Kodiak Gas Services, Inc. (NYSE:KGS) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 38 hedge fund portfolios held Kodiak Gas Services, Inc. (NYSE:KGS) at the end of the first quarter, up from 34 in the previous quarter. While we acknowledge the potential of Kodiak Gas Services, Inc. (NYSE:KGS) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free

Conestoga Capital Advisors, an ****** et management company, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter reports a positive market shift towards Small Caps, with the Russell 2000 Index achieving its best first half since 1991 and the Russell 2000 Growth Index up 25.7% in Q2, fueled by AI enthusiasm and semiconductor stocks. However, market leadership was uneven, mirroring the Tech Bubble, as high-beta stocks outperformed while high-quality companies lagged, impacting Conestoga's quality-focused strategies. Management expressed confidence in long-term outcomes, noting that speculative leadership won't last as monetary policy tightens and market breadth improves. The firm remains committed to high-quality growth businesses, expecting these to regain favor as leadership broadens. The Conestoga Small Cap Composite returned 14.32% net-of-fees in the second quarter, with 25.71% for the Russell 2000 Growth Index. Narrow Index leadership hurt the relative results, but it also hid Composite improvements. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Conestoga Capital Advisors highlighted Knowles Corporation (NYSE:KN) as a newly added position in the Small Cap Composite. Knowles Corporation (NYSE:KN) is a specialty electronic components manufacturer that offers capacitors, radio frequency (RF) and microwave filters, balanced armature speakers, and medtech microphones. On August 4, 2026, Knowles Corporation (NYSE:KN) closed at $40.40 per share, reflecting a market capitalization of $3.45 billion. Knowles Corporation (NYSE:KN) posted a one-month return of 14.25%, while its shares gained 105.03% over the past 52 weeks.
Conestoga Capital Advisors stated the following regarding Knowles Corporation (NYSE:KN) in its Q2 2026 investor letter:
"Knowles Corporation (NYSE:KN) designs highly engineered components used in medical, defense, industrial, and electrification applications. We were attracted to the company's accelerating organic growth, expanding margins, and exposure to several attractive long-term secular trends. Management highlighted strong order activity across its Precision Devices business, with a sixth consecutive quarter of book-to-bill above 1.0x supporting confidence in continued growth."
Knowles Corporation (NYSE:KN) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. As per our database, 26 hedge fund portfolios held Knowles Corporation (NYSE:KN) at the end of the first quarter, which was 30 in the previous quarter. While we acknowledge the risk and potential of Knowles Corporation (NYSE:KN) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Knowles Corporation (NYSE:KN) and that has 10,000% upside pote

Conestoga Capital Advisors, an ******* et management company, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter reports a positive market shift towards Small Caps, with the Russell 2000 Index achieving its best first half since 1991 and the Russell 2000 Growth Index up 25.7% in Q2, fueled by AI enthusiasm and semiconductor stocks. However, market leadership was uneven, mirroring the Tech Bubble, as high-beta stocks outperformed while high-quality companies lagged, impacting Conestoga's quality-focused strategies. Management expressed confidence in long-term outcomes, noting that speculative leadership won't last as monetary policy tightens and market breadth improves. The firm remains committed to high-quality growth businesses, expecting these to regain favor as leadership broadens. The Conestoga Small Cap Composite returned 14.32% net-of-fees in the second quarter, with 25.71% for the Russell 2000 Growth Index. Narrow Index leadership hurt the relative results, but it also hid Composite improvements. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Conestoga Capital Advisors highlighted Matador Resources Company (NYSE:MTDR). The firm added Matador Resources Company (NYSE:MTDR), a US-based independent energy company engages in the acquisition, exploration, development, and production of oil and natural gas resources, to its Small Cap Composite during the quarter. On August 04, 2026, Matador Resources Company (NYSE:MTDR) closed at $48.80 per share. One-month return of Matador Resources Company (NYSE:MTDR) was -7.58%, and its shares gained 4.56% over the past 52 weeks. Matador Resources Company (NYSE:MTDR) has a market capitalization of $6.06 billion.
Conestoga Capital Advisors stated the following regarding Matador Resources Company (NYSE:MTDR) in its Q2 2026 investor letter:
"Matador Resources Company (NYSE:MTDR) is an independent oil and natural gas producer focused on the Permian Basin. We believe the company is well positioned to generate attractive shareholder returns through disciplined capital allocation, production growth, and balance sheet strength despite a volatile commodity environment. Management continues to prioritize increasing production, reducing debt, and maintaining capital discipline, providing flexibility across a range of energy price scenarios."
Matador Resources Company (NYSE:MTDR) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 35 hedge fund portfolios held Matador Resources Company (NYSE:MTDR) at the end of the first quarter, up from 31 in the previous quarter. While we acknowledge the risk and potential of Matador Resources Company (NYSE:MTDR) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for

Conestoga Capital Advisors, an ****** et management company, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter reports a positive market shift towards Small Caps, with the Russell 2000 Index achieving its best first half since 1991 and the Russell 2000 Growth Index up 25.7% in Q2, fueled by AI enthusiasm and semiconductor stocks. However, market leadership was uneven, mirroring the Tech Bubble, as high-beta stocks outperformed while high-quality companies lagged, impacting Conestoga's quality-focused strategies. Management expressed confidence in long-term outcomes, noting that speculative leadership won't last as monetary policy tightens and market breadth improves. The firm remains committed to high-quality growth businesses, expecting these to regain favor as leadership broadens. The Conestoga Small Cap Composite returned 14.32% net-of-fees in the second quarter, with 25.71% for the Russell 2000 Growth Index. Narrow Index leadership hurt the relative results, but it also hid Composite improvements. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Conestoga Capital Advisors highlighted AAON, Inc. (NASDAQ:AAON) as a material contributor. AAON, Inc. (NASDAQ:AAON) designs and manufactures high-efficiency air conditioning and heating equipment. On August 4, 2026, AAON, Inc. (NASDAQ:AAON) closed at $95.55 per share, reflecting a market capitalization of $7.82 billion. AAON, Inc. (NASDAQ:AAON) posted a one-month return of -11.51%, while its shares gained 17.26% over the past 52 weeks.
Conestoga Capital Advisors stated the following regarding AAON, Inc. (NASDAQ:AAON) in its Q2 2026 investor letter:
"AAON, Inc. (NASDAQ:AAON) was among the portfolio's strongest contributors during the quarter following what we believe was an exceptional first-quarter earnings report. Results highlighted significant demand for the company's BASX division, which provides liquid-cooling solutions for data centers. Management raised its 2026 BASX revenue outlook to approximately $1.0 billion, up from its previous forecast of $715 million, reflecting accelerating demand from AI-driven data center investments. The company's rooftop HVAC business also demonstrated a healthy rebound despite ongoing macroeconomic uncertainty. While gross margins declined during the quarter, management intentionally prioritized growth and market share over near-term profitability. We believe this is the appropriate strategy given the robust demand environment and should strengthen AAON's competitive position over the long term."

#NASDAQ #letter

Conestoga Capital Advisors, an ******* et management company, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter reports a positive market shift towards Small Caps, with the Russell 2000 Index achieving its best first half since 1991 and the Russell 2000 Growth Index up 25.7% in Q2, fueled by AI enthusiasm and semiconductor stocks. However, market leadership was uneven, mirroring the Tech Bubble, as high-beta stocks outperformed while high-quality companies lagged, impacting Conestoga's quality-focused strategies. Management expressed confidence in long-term outcomes, noting that speculative leadership won't last as monetary policy tightens and market breadth improves. The firm remains committed to high-quality growth businesses, expecting these to regain favor as leadership broadens. The Conestoga Small Cap Composite returned 14.32% net-of-fees in the second quarter, with 25.71% for the Russell 2000 Growth Index. Narrow Index leadership hurt the relative results, but it also hid Composite improvements. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Conestoga Capital Advisors highlighted Perimeter Solutions, Inc. (NYSE:PRM) as a newly added position in the small cap composite. Perimeter Solutions, Inc. (NYSE:PRM) is a leading manufacturer of firefighting products, electronic components, lubricant additives, and engineered machinery. On August 4, 2026, Perimeter Solutions, Inc. (NYSE:PRM) closed at $33.25 per share, reflecting a market capitalization of $5.44 billion. Perimeter Solutions, Inc. (NYSE:PRM) posted a one-month return of 0.95%, while its shares gained 115.61% over the past 52 weeks.
Conestoga Capital Advisors stated the following regarding Perimeter Solutions, Inc. (NYSE:PRM) in its Q2 2026 investor letter:
"Perimeter Solutions, Inc. (NYSE:PRM) provides mission-critical fire safety and specialty chemical solutions. We initiated a position based on the company's durable earnings profile, disciplined capital allocation, and strong competitive position in niche markets. Recent long-term contract wins, including a five-year agreement with the Defense Logistics Agency, reinforce confidence in PRM's ability to generate predictable cash flow while continuing to expand its earnings base through both organic growth and acquisitions."
Perimeter Solutions, Inc. (NYSE:PRM) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 37 hedge fund portfolios held Perimeter Solutions, Inc. (NYSE:PRM) at the end of the first quarter, up from 33 in the previous quarter. While we acknowledge the risk and potential of Perimeter Solutions, Inc. (NYSE:PRM) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising

What happened: Software stocks declined on Thursday as shares of Datadog (DDOG), Figma (FIG), and HubSpot (HUBS) plummeted more than 15% following their quarterly results.
Shares of software peers Salesforce (CRM) and ServiceNow (NOW ) also dropped, along with Workday (WDY) and Cloudflare (NET).
What's behind the move: The software sector has been attempting a rebound since April lows as investors worry that AI will disrupt industry business models. They are therefore viewing earnings with high scrutiny. Datadog's quarterly results beat on the top and bottom line, but the company's adjusted gross margin of 80% came in slightly below the ***** ysts' consensus estimate of 80.7%.
Meanwhile, Figma's quarterly results also beat on the top and bottom lines, but the software design and collaboration company flagged rising AI inference spending, or the ongoing cost of running user prompts through AI models.
"We do not charge our customers for their usage of products that are currently in beta, and we bear the cost of inference without offsetting consumption revenue," Figma CFO Praveer Melwani said during the company's earnings call. "As a result, gross margin will vary from quarter-to-quarter in the near term."

#quarterly #figma #shares #gross

JEPQ's Nasdaq-100 volatility fuels a 7% yield and 17% one-year gain, roughly doubling JEPI's 8% return for income investors accepting AI concentration risk.
At 4.69%, the 10-year Treasury pressures income ETFs, but JEPI's low-beta S&P 500 sleeve could outperform SPY if mega-cap tech leadership rotates.
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Income investors comparing JPMorgan Equity Premium Income ETF (NYSEARCA:JEPI) and JPMorgan Nasdaq Equity Premium Income ETF (NASDAQ:JEPQ) are looking at the two largest actively managed ETFs in the country. Both use the same JPMorgan playbook: hold a defensive equity sleeve, generate extra cash through equity-linked notes that mimic an out-of-the-money covered call, and pay it out monthly. The mechanics rhyme, but the underlying exposure differs.
One fund leans on the S&P 500 with a low-volatility tilt. The other rides a Nasdaq-100 sleeve where implied volatility is structurally higher, feeding fatter option premiums into the monthly distribution. That single design difference is what makes the JEPI versus JEPQ debate meaningful for the back half of 2026.

#volatility