1 month ago
Zcash (ZEC) has climbed 177.8% in a month, and the traders betting against it are paying for that move.
One short was closed at a $10.68 million loss this week, and the largest position still open sits $33.87 million underwater on Hyperliquid.
Lookonchain flagged the closed trade before the exit, citing 26 consecutive wins and an 89% rate across 47 trades. That record had produced more than $9 million in profit.
The short covered 12,285 ZEC and was worth $18.31 million earlier, with liquidation set at $1,550.66. Hyperliquid data shows the account now holds no positions at all.
Garrett Jin holds the largest short still open, covering 37,999 ZEC worth $59.37 million. He built the position at an average price of $671.05, so it now shows an unrealized loss of $33.87 million.
#million #open
One short was closed at a $10.68 million loss this week, and the largest position still open sits $33.87 million underwater on Hyperliquid.
Lookonchain flagged the closed trade before the exit, citing 26 consecutive wins and an 89% rate across 47 trades. That record had produced more than $9 million in profit.
The short covered 12,285 ZEC and was worth $18.31 million earlier, with liquidation set at $1,550.66. Hyperliquid data shows the account now holds no positions at all.
Garrett Jin holds the largest short still open, covering 37,999 ZEC worth $59.37 million. He built the position at an average price of $671.05, so it now shows an unrealized loss of $33.87 million.
#million #open
1 month ago
On September 9, 2026, Reuters reported that U.S. Transportation Secretary Sean Duffy sent a letter to Ford Motor Company (NYSE:F) CEO Jim Farley criticizing the automaker's business relationships with Chinese battery maker CATL and Chinese automakers Geely and BYD as raising "profound concern."
It specifically flagged Ford's licensed CATL battery technology at its Marshall, Michigan plant, its joint venture with Geely in Spain, and its decision not to move Lincoln Nautilus production out of China until 2030. Ford responded that Duffy's letter was "a wrongheaded attempt to capture headlines," noting that it owns the Marshall plant, controls its operations, and employs the workforce there, unlike companies that simply import Chinese-made batteries.
Ford Motor Company (NYSE:F) can argue that its CATL partnership still solidifies U.S. battery manufacturing rather than becoming more dependent on Chinese imports. Ford owns and operates its Marshall, Michigan battery plant. It allows the company to manufacture batteries domestically while licensing CATL technology. That structure could help Ford expand its U.S. EV production capacity and reduce the need to import finished Chinese battery packs.
Ford's improving financial performance gives the firm more flexibility to manage the political pressure. The automaker raised its full-year adjusted EBIT guidance to $10 billion-$11 billion after second-quarter results exceeded expectations, with record Bronco sales and a stronger product mix supporting the improvement. Stronger operating earnings could give Ford more resources to adjust its battery strategy if policymakers impose more restrictions on Chinese technology.
The company's existing U.S. manufacturing footprint could become a competitive advantage if Washington tightens restrictions on Chinese automotive technology. Ford has already invested in domestic battery production instead of relying entirely on imported battery packs. Model e losses have narrowed for three consecutive quarters. If policymakers force automakers to cut Chinese supply-chain reliance, Ford can use its existing U.S. factories to adapt faster than rivals that depend heavily on Chinese parts.
#ford #catl #motor
It specifically flagged Ford's licensed CATL battery technology at its Marshall, Michigan plant, its joint venture with Geely in Spain, and its decision not to move Lincoln Nautilus production out of China until 2030. Ford responded that Duffy's letter was "a wrongheaded attempt to capture headlines," noting that it owns the Marshall plant, controls its operations, and employs the workforce there, unlike companies that simply import Chinese-made batteries.
Ford Motor Company (NYSE:F) can argue that its CATL partnership still solidifies U.S. battery manufacturing rather than becoming more dependent on Chinese imports. Ford owns and operates its Marshall, Michigan battery plant. It allows the company to manufacture batteries domestically while licensing CATL technology. That structure could help Ford expand its U.S. EV production capacity and reduce the need to import finished Chinese battery packs.
Ford's improving financial performance gives the firm more flexibility to manage the political pressure. The automaker raised its full-year adjusted EBIT guidance to $10 billion-$11 billion after second-quarter results exceeded expectations, with record Bronco sales and a stronger product mix supporting the improvement. Stronger operating earnings could give Ford more resources to adjust its battery strategy if policymakers impose more restrictions on Chinese technology.
The company's existing U.S. manufacturing footprint could become a competitive advantage if Washington tightens restrictions on Chinese automotive technology. Ford has already invested in domestic battery production instead of relying entirely on imported battery packs. Model e losses have narrowed for three consecutive quarters. If policymakers force automakers to cut Chinese supply-chain reliance, Ford can use its existing U.S. factories to adapt faster than rivals that depend heavily on Chinese parts.
#ford #catl #motor
1 month ago
On September 10, 2026, The Lovesac Company (NASDAQ:LOVE) reported second-quarter fiscal 2027 results for the period ended August 2, 2026. Net sales rose 0.4% to $161.2 million, a record for the quarter, and the company swung to net income of $7.4 million, or $0.51 per diluted share, from a loss of $6.7 million a year earlier. Inside that $0.51 sits $0.86 of net benefit from IEEPA tariff refunds. Omni-channel comparable sales fell 1.9%.
Canaccord's Maria Ripps read the quarter as in line, with revenue and adjusted EBITDA both landing within guidance and near consensus while tariff refunds pushed gross margin and earnings above expectations; she cut the firm's target on The Lovesac Company (NASDAQ:LOVE) to $20 from $22 but held the Buy rating.
Roth Capital's Matt Koranda also called the quarter in line with consensus, though he flagged omni-channel comps trending modestly negative on soft lower-end consumer demand. He lowered the firm's target on The Lovesac Company (NASDAQ:LOVE) to $20 from $22 as well, keeping a Buy rating, and noted that management reset full-year guidance lower on a tough demand environment and modest product launch delays.
DA Davidson offered a similar interpretation of the lower guidance, arguing that the reset reflects the new CFO's approach more than a deterioration in the underlying business. The firm said the CFO, who joined during the quarter, appears to be establishing more conservative expectations that could restore a beat-and-raise pattern the stock had lacked. DA Davidson lowered its target on The Lovesac Company (NASDAQ:LOVE) to $18 from $20 while maintaining its Buy rating.
The operating case rests on the high end: configurations above $6,000 grew double digits against a tough comparison, showroom net sales rose 4.6% to $114.1 million on 14 net new locations, and Snugg helped push other products revenue up 198.2%. Lovesac ended the quarter with $68.8 million in cash and no debt.
#quarter
Canaccord's Maria Ripps read the quarter as in line, with revenue and adjusted EBITDA both landing within guidance and near consensus while tariff refunds pushed gross margin and earnings above expectations; she cut the firm's target on The Lovesac Company (NASDAQ:LOVE) to $20 from $22 but held the Buy rating.
Roth Capital's Matt Koranda also called the quarter in line with consensus, though he flagged omni-channel comps trending modestly negative on soft lower-end consumer demand. He lowered the firm's target on The Lovesac Company (NASDAQ:LOVE) to $20 from $22 as well, keeping a Buy rating, and noted that management reset full-year guidance lower on a tough demand environment and modest product launch delays.
DA Davidson offered a similar interpretation of the lower guidance, arguing that the reset reflects the new CFO's approach more than a deterioration in the underlying business. The firm said the CFO, who joined during the quarter, appears to be establishing more conservative expectations that could restore a beat-and-raise pattern the stock had lacked. DA Davidson lowered its target on The Lovesac Company (NASDAQ:LOVE) to $18 from $20 while maintaining its Buy rating.
The operating case rests on the high end: configurations above $6,000 grew double digits against a tough comparison, showroom net sales rose 4.6% to $114.1 million on 14 net new locations, and Snugg helped push other products revenue up 198.2%. Lovesac ended the quarter with $68.8 million in cash and no debt.
#quarter
1 month ago
Sept 17 (Reuters) - JP Morgan said on Thursday that it does not have a clear baseline view for oil markets for the first time since the start of the US-Israeli war on Iran.
"We simply don't know how to model the endgame," ***** ysts at the bank noted.
The note flagged that at the beginning of the conflict, JP Morgan had ***** umed there were some economic thresholds that the U.S. administration would not cross, but six months into the conflict, many of those lines have been crossed with no clear exit strategy in view.
The bank noted that oil prices have climbed above $100 a barrel with gasoline at $4.37 a gallon. It also noted that US diesel prices have hit an all-time high of $6.31 a gallon heading into winter, the period of peak seasonal demand, while inventories sit at all-time lows.
JP Morgan estimated Brent's fair value at around $90 a barrel for September, compared with current prices near $106, suggesting markets are pricing in the risk of further supply losses beyond the estimated 10 million barrels per day already disrupted.
#noted #markets
"We simply don't know how to model the endgame," ***** ysts at the bank noted.
The note flagged that at the beginning of the conflict, JP Morgan had ***** umed there were some economic thresholds that the U.S. administration would not cross, but six months into the conflict, many of those lines have been crossed with no clear exit strategy in view.
The bank noted that oil prices have climbed above $100 a barrel with gasoline at $4.37 a gallon. It also noted that US diesel prices have hit an all-time high of $6.31 a gallon heading into winter, the period of peak seasonal demand, while inventories sit at all-time lows.
JP Morgan estimated Brent's fair value at around $90 a barrel for September, compared with current prices near $106, suggesting markets are pricing in the risk of further supply losses beyond the estimated 10 million barrels per day already disrupted.
#noted #markets
1 month ago
Sept 16 (Reuters) - Top U.S. banks raised their prime lending rate on Wednesday after the Federal Reserve lifted its benchmark interest rate, a move that would increase borrowing costs for consumers and businesses with loans.
Following the Fed's first rate hike since 2023, the prime rate of JPMorgan , Bank of America, Citigroup, Wells Fargo, KeyCorp, Huntington Bancshares, Fifth Third Bancorp and Truist Financial from Thursday will rise to 7% from 6.75%.
The Fed raised rates by a quarter of a percentage point on Wednesday and flagged further increases in borrowing costs in the coming months as policymakers focus on addressing persistent inflation.
Shares of big banks ended lower amid broader weakness in U.S. stocks. BofA closed down 2.7%, Citi 2.4%, Wells Fargo 3%, and JPMorgan 1%. Morgan Stanley slipped 1.9% and Goldman Sachs fell 4%.
The prime rate, which follows the federal funds rate, is used by U.S. banks as a reference for setting rates on many financial products such as credit cards and personal loans.
#prime #jpmorgan #raised
Following the Fed's first rate hike since 2023, the prime rate of JPMorgan , Bank of America, Citigroup, Wells Fargo, KeyCorp, Huntington Bancshares, Fifth Third Bancorp and Truist Financial from Thursday will rise to 7% from 6.75%.
The Fed raised rates by a quarter of a percentage point on Wednesday and flagged further increases in borrowing costs in the coming months as policymakers focus on addressing persistent inflation.
Shares of big banks ended lower amid broader weakness in U.S. stocks. BofA closed down 2.7%, Citi 2.4%, Wells Fargo 3%, and JPMorgan 1%. Morgan Stanley slipped 1.9% and Goldman Sachs fell 4%.
The prime rate, which follows the federal funds rate, is used by U.S. banks as a reference for setting rates on many financial products such as credit cards and personal loans.
#prime #jpmorgan #raised
1 month ago
NEW YORK, Sept 16 (Reuters) - The Federal Reserve raised interest rates on Wednesday and flagged further increases in borrowing costs in coming months, with new US central bank chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump administration's inability so far to control inflation.
Speaking in Washington after the decision's release, Warsh echoed the official statement in promising the Fed's policy committee would "deliver price stability." Stocks and bonds sold off late Wednesday afternoon, reflecting expectations that rates may continue to rise for some time.
New policy projections showed 16 of 18 policymakers anticipate at least one more quarter-percentage-point hike by the end of this year, with only two of them seeing rates remaining stable from here. Warsh apparently again did not submit a rate projection.
It's the first policy shift under the new Fed chief, who took office in late May after being selected by Trump with an expectation that he would cut rates.
The Fed's new policy statement and economic projections, to the contrary, show a central bank opening the door on tighter monetary policy through next year, with the policy rate rising to the 4.00%-4.25% range by the end of this year and ending 2027 at the same level.
#rates #warsh #year #chief
Speaking in Washington after the decision's release, Warsh echoed the official statement in promising the Fed's policy committee would "deliver price stability." Stocks and bonds sold off late Wednesday afternoon, reflecting expectations that rates may continue to rise for some time.
New policy projections showed 16 of 18 policymakers anticipate at least one more quarter-percentage-point hike by the end of this year, with only two of them seeing rates remaining stable from here. Warsh apparently again did not submit a rate projection.
It's the first policy shift under the new Fed chief, who took office in late May after being selected by Trump with an expectation that he would cut rates.
The Fed's new policy statement and economic projections, to the contrary, show a central bank opening the door on tighter monetary policy through next year, with the policy rate rising to the 4.00%-4.25% range by the end of this year and ending 2027 at the same level.
#rates #warsh #year #chief
1 month ago
By Lucia Mutikani
WASHINGTON, Sept 16 (Reuters) - U.S. retail sales rebounded sharply in August as households boosted purchases of a range of goods while also spending more at restaurants and bars, reinforcing the economy's resilience even as consumers grow more anxious about high inflation.
The stronger-than-expected report from the Commerce Department on Wednesday prompted economists to upgrade their gross domestic product growth estimates for the third quarter. Inflation jitters were underscored by news of a surge in import prices last month amid strong increases in the costs of capital and consumer goods.
The reports followed data this month showing producer and consumer prices accelerated in August, while the labor market regained its poise after wobbling through much of summer.
The Federal Reserve on Wednesday raised its benchmark overnight interest rate by a quarter of a percentage point to the 3.75%-4.00% range and flagged further increases in borrowing costs in the months ahead.
#inflation #quarter
WASHINGTON, Sept 16 (Reuters) - U.S. retail sales rebounded sharply in August as households boosted purchases of a range of goods while also spending more at restaurants and bars, reinforcing the economy's resilience even as consumers grow more anxious about high inflation.
The stronger-than-expected report from the Commerce Department on Wednesday prompted economists to upgrade their gross domestic product growth estimates for the third quarter. Inflation jitters were underscored by news of a surge in import prices last month amid strong increases in the costs of capital and consumer goods.
The reports followed data this month showing producer and consumer prices accelerated in August, while the labor market regained its poise after wobbling through much of summer.
The Federal Reserve on Wednesday raised its benchmark overnight interest rate by a quarter of a percentage point to the 3.75%-4.00% range and flagged further increases in borrowing costs in the months ahead.
#inflation #quarter
1 month ago
On August 25, Aptiv (NYSE:APTV) said it will support NVIDIA's newly announced Jetson Orin Nano 2 processor, extending a partnership that already covers the more powerful Jetson Thor platform. The move puts Aptiv squarely inside the buildout of "physical AI," the term for machines like drones, robots, and industrial systems that need to sense and react to the real world in real time. For a company still just months removed from spinning off its electrical distribution business, betting on edge robotics is a statement about where it thinks the next decade of growth actually lives.
NVIDIA's Jetson Orin Nano 2 packs 78 TOPS of processing power into an 8GB, 8-core Arm chip that doubles the inference speed of its predecessor while cutting power draw by 40% at equivalent performance. That kind of efficiency gain matters for battery-powered devices like delivery drones and mobile robots, where every watt saved extends run time. Aptiv isn't just supplying compute support; it is layering in its PULSE surround-view camera and radar system for 360-degree sensing, its Gen 8 radar for object detection in tough conditions, and Wind River software to handle the unglamorous but essential work of long-term maintenance and security updates. That full-stack approach is the pitch: instead of stitching together sensors, chips, and software from separate vendors, customers get one partner who can carry a device from prototype to a fleet running in the field.
The timing lines up with what Aptiv reported in its second-quarter results on August 4, 2026. Revenue reached $3.3 billion, up 2%, while adjusted EBITDA climbed to $613 million from $547 million a year earlier, pushing margins to 18.7% from 17.1%. CEO Kevin Clark pointed to double-digit growth in non-automotive revenue, progress moving robotics from partnership talks to actual commercial deployments, and a major drone industry win secured in early July. North America sales rose 10% and Asia Pacific grew 6%, including 5% growth in China, giving the company some geographic momentum to lean on as it chases this new business line.
The quarter wasn't clean underneath the headline numbers. Free cash flow came in at just $12 million in the second quarter, down from $219 million a year earlier, and the first half of 2026 actually posted negative free cash flow of $196 million versus a positive $264 million a year ago. Operating cash flow from continuing operations fell to $82 million for the first half, down sharply from $531 million. Management also flagged automotive demand and customer mix as an incremental headwind, a reminder that Aptiv's legacy business still carries real weight even as it chases robotics and drones. EMEA revenue dropped 8%, and South America fell 4% in the quarter, both drags even as North America and Asia Pacific grew.
#jetson #robotics
NVIDIA's Jetson Orin Nano 2 packs 78 TOPS of processing power into an 8GB, 8-core Arm chip that doubles the inference speed of its predecessor while cutting power draw by 40% at equivalent performance. That kind of efficiency gain matters for battery-powered devices like delivery drones and mobile robots, where every watt saved extends run time. Aptiv isn't just supplying compute support; it is layering in its PULSE surround-view camera and radar system for 360-degree sensing, its Gen 8 radar for object detection in tough conditions, and Wind River software to handle the unglamorous but essential work of long-term maintenance and security updates. That full-stack approach is the pitch: instead of stitching together sensors, chips, and software from separate vendors, customers get one partner who can carry a device from prototype to a fleet running in the field.
The timing lines up with what Aptiv reported in its second-quarter results on August 4, 2026. Revenue reached $3.3 billion, up 2%, while adjusted EBITDA climbed to $613 million from $547 million a year earlier, pushing margins to 18.7% from 17.1%. CEO Kevin Clark pointed to double-digit growth in non-automotive revenue, progress moving robotics from partnership talks to actual commercial deployments, and a major drone industry win secured in early July. North America sales rose 10% and Asia Pacific grew 6%, including 5% growth in China, giving the company some geographic momentum to lean on as it chases this new business line.
The quarter wasn't clean underneath the headline numbers. Free cash flow came in at just $12 million in the second quarter, down from $219 million a year earlier, and the first half of 2026 actually posted negative free cash flow of $196 million versus a positive $264 million a year ago. Operating cash flow from continuing operations fell to $82 million for the first half, down sharply from $531 million. Management also flagged automotive demand and customer mix as an incremental headwind, a reminder that Aptiv's legacy business still carries real weight even as it chases robotics and drones. EMEA revenue dropped 8%, and South America fell 4% in the quarter, both drags even as North America and Asia Pacific grew.
#jetson #robotics
1 month ago
Third-party logistics provider Radiant Logistics beat fiscal fourth-quarter expectations Monday after the market closed. A volatile trade landscape is driving demand higher for its customs brokerage and compliance services. It also flagged further tightening in the domestic truckload and intermodal markets, which will propel financial results over time.
"While these market trends are not fully reflected in our results for the June quarter, we view these developments as constructive for our domestic operations in general and our U.S. Brokerage operations, in particular," said Bohn Crain, founder and CEO, in a news release. "If these trends continue, we believe they support a more broad-based and durable recovery for the domestic freight market."
The report sent shares of RLGT 16% higher in early trading on Tuesday versus the S&P 500, which was down 0.2%.
The Renton, Washington-based company reported revenue of $261 million for its fiscal fourth quarter, ended June 30. The result was 19% higher year over year and $30 million ahead of the consensus estimate.
Adjusted earnings per share of 15 cents ($7.4 million) were 4 cents higher y/y and 6 cents ahead of consensus. Disaster relief shipments following typhoons in the Western Pacific drove international airfreight results higher in the period.
#june
"While these market trends are not fully reflected in our results for the June quarter, we view these developments as constructive for our domestic operations in general and our U.S. Brokerage operations, in particular," said Bohn Crain, founder and CEO, in a news release. "If these trends continue, we believe they support a more broad-based and durable recovery for the domestic freight market."
The report sent shares of RLGT 16% higher in early trading on Tuesday versus the S&P 500, which was down 0.2%.
The Renton, Washington-based company reported revenue of $261 million for its fiscal fourth quarter, ended June 30. The result was 19% higher year over year and $30 million ahead of the consensus estimate.
Adjusted earnings per share of 15 cents ($7.4 million) were 4 cents higher y/y and 6 cents ahead of consensus. Disaster relief shipments following typhoons in the Western Pacific drove international airfreight results higher in the period.
#june
1 month ago
Citi has begun coverage of the newly listed The Magnum Ice Cream Company (EURONEXT:MICC, LSE:MICC, NYSE:MICC) with a lukewarm "neutral" rating, warning that the maker of the eponymous chocolate-coated lollies faces a tougher year ahead after a **** per summer.
The broker set a target price of €17.7 on the shares, arguing that kind weather and solid delivery on cost cuts have already pushed Magnum's valuation up to broadly match its European food peers, leaving little room for further gains.
Citi's central doubt is whether the good times can last. A durable re-rating, it said, takes more than one strong season, and history suggests companies leaning on cost-saving stories rarely hold on to lofty valuations for long.
Several clouds loom over next year. The broker flagged the risk that El Niño weather patterns push up ingredient costs in the second half of 2027, which could expose how sensitive take-home ice cream sales are to price rises.
It also cited the spread of GLP-1 weight-loss drugs as a potential drag on demand, alongside the usual uncertainty over weather comparisons.
#micc #year
The broker set a target price of €17.7 on the shares, arguing that kind weather and solid delivery on cost cuts have already pushed Magnum's valuation up to broadly match its European food peers, leaving little room for further gains.
Citi's central doubt is whether the good times can last. A durable re-rating, it said, takes more than one strong season, and history suggests companies leaning on cost-saving stories rarely hold on to lofty valuations for long.
Several clouds loom over next year. The broker flagged the risk that El Niño weather patterns push up ingredient costs in the second half of 2027, which could expose how sensitive take-home ice cream sales are to price rises.
It also cited the spread of GLP-1 weight-loss drugs as a potential drag on demand, alongside the usual uncertainty over weather comparisons.
#micc #year
1 month ago
On August 25, Aptiv (NYSE:APTV) said it will support NVIDIA's newly announced Jetson Orin Nano 2 processor, extending a partnership that already covers the more powerful Jetson Thor platform. The move puts Aptiv squarely inside the buildout of "physical AI," the term for machines like drones, robots, and industrial systems that need to sense and react to the real world in real time. For a company still just months removed from spinning off its electrical distribution business, betting on edge robotics is a statement about where it thinks the next decade of growth actually lives.
NVIDIA's Jetson Orin Nano 2 packs 78 TOPS of processing power into an 8GB, 8-core Arm chip that doubles the inference speed of its predecessor while cutting power draw by 40% at equivalent performance. That kind of efficiency gain matters for battery-powered devices like delivery drones and mobile robots, where every watt saved extends run time. Aptiv isn't just supplying compute support; it is layering in its PULSE surround-view camera and radar system for 360-degree sensing, its Gen 8 radar for object detection in tough conditions, and Wind River software to handle the unglamorous but essential work of long-term maintenance and security updates. That full-stack approach is the pitch: instead of stitching together sensors, chips, and software from separate vendors, customers get one partner who can carry a device from prototype to a fleet running in the field.
The timing lines up with what Aptiv reported in its second-quarter results on August 4, 2026. Revenue reached $3.3 billion, up 2%, while adjusted EBITDA climbed to $613 million from $547 million a year earlier, pushing margins to 18.7% from 17.1%. CEO Kevin Clark pointed to double-digit growth in non-automotive revenue, progress moving robotics from partnership talks to actual commercial deployments, and a major drone industry win secured in early July. North America sales rose 10% and Asia Pacific grew 6%, including 5% growth in China, giving the company some geographic momentum to lean on as it chases this new business line.
The quarter wasn't clean underneath the headline numbers. Free cash flow came in at just $12 million in the second quarter, down from $219 million a year earlier, and the first half of 2026 actually posted negative free cash flow of $196 million versus a positive $264 million a year ago. Operating cash flow from continuing operations fell to $82 million for the first half, down sharply from $531 million. Management also flagged automotive demand and customer mix as an incremental headwind, a reminder that Aptiv's legacy business still carries real weight even as it chases robotics and drones. EMEA revenue dropped 8%, and South America fell 4% in the quarter, both drags even as North America and Asia Pacific grew.
#America #real
NVIDIA's Jetson Orin Nano 2 packs 78 TOPS of processing power into an 8GB, 8-core Arm chip that doubles the inference speed of its predecessor while cutting power draw by 40% at equivalent performance. That kind of efficiency gain matters for battery-powered devices like delivery drones and mobile robots, where every watt saved extends run time. Aptiv isn't just supplying compute support; it is layering in its PULSE surround-view camera and radar system for 360-degree sensing, its Gen 8 radar for object detection in tough conditions, and Wind River software to handle the unglamorous but essential work of long-term maintenance and security updates. That full-stack approach is the pitch: instead of stitching together sensors, chips, and software from separate vendors, customers get one partner who can carry a device from prototype to a fleet running in the field.
The timing lines up with what Aptiv reported in its second-quarter results on August 4, 2026. Revenue reached $3.3 billion, up 2%, while adjusted EBITDA climbed to $613 million from $547 million a year earlier, pushing margins to 18.7% from 17.1%. CEO Kevin Clark pointed to double-digit growth in non-automotive revenue, progress moving robotics from partnership talks to actual commercial deployments, and a major drone industry win secured in early July. North America sales rose 10% and Asia Pacific grew 6%, including 5% growth in China, giving the company some geographic momentum to lean on as it chases this new business line.
The quarter wasn't clean underneath the headline numbers. Free cash flow came in at just $12 million in the second quarter, down from $219 million a year earlier, and the first half of 2026 actually posted negative free cash flow of $196 million versus a positive $264 million a year ago. Operating cash flow from continuing operations fell to $82 million for the first half, down sharply from $531 million. Management also flagged automotive demand and customer mix as an incremental headwind, a reminder that Aptiv's legacy business still carries real weight even as it chases robotics and drones. EMEA revenue dropped 8%, and South America fell 4% in the quarter, both drags even as North America and Asia Pacific grew.
#America #real
1 month ago
On September 10, Adobe (NASDAQ:ADBE) posted record third-quarter revenue of $6.76 billion, up 13% year over year, and raised its full-year revenue and profit targets. Non-GAAP EPS climbed 15% to $6.13, while GAAP EPS rose 11% to $4.62. Buried inside those headline numbers was a sharper story: AI-first ending ARR topped $650 million, growing more than 150% year over year. The same call brought a leadership change, with Anil S. Chakravarthy set to take over as CEO from Shantanu Narayen on December 1. Investors got a lot to digest in one afternoon.
Adobe's AI tools are no longer just a demo. Firefly ending ARR, which spans the Firefly app and its credit packs, grew 40% quarter over quarter, and the Acrobat AI ******* istant doubled its monthly active users over the same three months. Total monthly active users across Adobe's businesses surpassed 1 billion in the quarter, up more than 20% year over year, and creative premium MAU crossed 100 million, up more than 70%. Business professionals and consumers MAU passed 900 million, up more than 25%. That kind of user growth, concentrated in free and freemium tiers, is what feeds the paid AI upgrades now showing up in ARR.
The company backed that growth with cash. Operating cash flow hit a third-quarter record of $2.52 billion, and Adobe bought back roughly 9.5 million shares during the quarter, leaving $24.55 billion still authorized for repurchases. Management raised its full-year revenue target to a range of $26.58 billion to $26.63 billion and its non-GAAP EPS target to $24.45 to $24.50. On the product side, Adobe struck a deal to acquire Topaz Labs, whose AI enhancement models for image and video work would slot directly into Firefly and Creative Cloud. Enterprise demand held up too, with ending ARR growing more than 20% year over year at each of Adobe Experience Manager, Adobe Gen Studio, and Adobe Experience Platform.
Not every metric moved as fast. Remaining performance obligations, the backlog of contracted but unrecognized revenue, grew 8% year over year to $22.16 billion, trailing both the 13% revenue growth and the 11.2% growth in total ending ARR. Current RPO grew 9%, also behind the topline. Interim CFO Steven Day flagged a separate issue heading into the fourth quarter: a foreign-exchange headwind that partly offset the benefit of the third-quarter beat when management updated its full-year guidance.
AI-first ARR, for all its 150% growth rate, is still just over $650 million against a total ARR base of $27.50 billion, so it remains a small slice of the business even as it scales. The transition arrives at a pivotal moment too, with Chakravarthy set to take the CEO seat on Dec. 1 just as the company leans harder into an unproven agentic-software strategy, and the Topaz Labs deal still needs to clear regulatory approval before it adds anything to the numbers.
#adobe #billion #million
Adobe's AI tools are no longer just a demo. Firefly ending ARR, which spans the Firefly app and its credit packs, grew 40% quarter over quarter, and the Acrobat AI ******* istant doubled its monthly active users over the same three months. Total monthly active users across Adobe's businesses surpassed 1 billion in the quarter, up more than 20% year over year, and creative premium MAU crossed 100 million, up more than 70%. Business professionals and consumers MAU passed 900 million, up more than 25%. That kind of user growth, concentrated in free and freemium tiers, is what feeds the paid AI upgrades now showing up in ARR.
The company backed that growth with cash. Operating cash flow hit a third-quarter record of $2.52 billion, and Adobe bought back roughly 9.5 million shares during the quarter, leaving $24.55 billion still authorized for repurchases. Management raised its full-year revenue target to a range of $26.58 billion to $26.63 billion and its non-GAAP EPS target to $24.45 to $24.50. On the product side, Adobe struck a deal to acquire Topaz Labs, whose AI enhancement models for image and video work would slot directly into Firefly and Creative Cloud. Enterprise demand held up too, with ending ARR growing more than 20% year over year at each of Adobe Experience Manager, Adobe Gen Studio, and Adobe Experience Platform.
Not every metric moved as fast. Remaining performance obligations, the backlog of contracted but unrecognized revenue, grew 8% year over year to $22.16 billion, trailing both the 13% revenue growth and the 11.2% growth in total ending ARR. Current RPO grew 9%, also behind the topline. Interim CFO Steven Day flagged a separate issue heading into the fourth quarter: a foreign-exchange headwind that partly offset the benefit of the third-quarter beat when management updated its full-year guidance.
AI-first ARR, for all its 150% growth rate, is still just over $650 million against a total ARR base of $27.50 billion, so it remains a small slice of the business even as it scales. The transition arrives at a pivotal moment too, with Chakravarthy set to take the CEO seat on Dec. 1 just as the company leans harder into an unproven agentic-software strategy, and the Topaz Labs deal still needs to clear regulatory approval before it adds anything to the numbers.
#adobe #billion #million
2 months ago
Chicago White Sox amateur scouting director Mike Shirley resigned on Saturday in the wake of an internal investigation into verbal harassment allegations, according to The Athletic.
Shirley was reportedly placed on administrative leave after the White Sox received an anonymous tip about his conduct at last month's Area Code Games in Long Beach, California. He was alleged to have made racial and ****** ist comments both about coworkers and in front of coworkers.
The White Sox human resources department reportedly launched an investigation into Shirley, interviewing members of his scouting department. It remains unclear what findings the investigation made.
This reportedly wasn't the first time Shirley faced an internal investigation over his behavior. In 2022, he was investigated after a former employee left the club and flagged his behavior toward scouts from underrpresented groups. The tip was made to MLB and later passed on to the White Sox, whose investigation did not find any bias in his hiring practices or behavior.
This latest investigation reportedly included allegations of vulgar language about women and their bodies.
#investigation #made #behavior #scouting
Shirley was reportedly placed on administrative leave after the White Sox received an anonymous tip about his conduct at last month's Area Code Games in Long Beach, California. He was alleged to have made racial and ****** ist comments both about coworkers and in front of coworkers.
The White Sox human resources department reportedly launched an investigation into Shirley, interviewing members of his scouting department. It remains unclear what findings the investigation made.
This reportedly wasn't the first time Shirley faced an internal investigation over his behavior. In 2022, he was investigated after a former employee left the club and flagged his behavior toward scouts from underrpresented groups. The tip was made to MLB and later passed on to the White Sox, whose investigation did not find any bias in his hiring practices or behavior.
This latest investigation reportedly included allegations of vulgar language about women and their bodies.
#investigation #made #behavior #scouting
2 months ago
Ahead of the 2026-27 NBA season, HoopsHype is releasing rankings at every position. While Fred VanVleet was rated rather low as a point guard, Rockets star Kevin Durant was recently ranked as one of the best in his position. In a list of the top 27 small forwards in the NBA, Durant placed fifth after averaging 26 points, 5.5 rebounds, 4.8 ***** ists, 0.8 steals and 0.9 blocks in 78 appearances last season.
The Duke duo of Jayson Tatum and Cooper Flagg were ranked first and second, respectively, before the newest member of the Philadelphia 76ers (Jaylen Brown) came in at No. 3. No. 4 is a much more controversial choice, as Jalen Williams of the Oklahoma City Thunder was given the nod over Durant despite playing in just 33 contests last year. Kawhi Leonard (Raptors), Deni Avdija (Trail Blazers), Franz Wagner (Orlando Magic), Brandon Ingram (Clippers) and Brandon Miller (Hornets) rounded out the top-10.
For more NBA content, check out the BasketBaltes podcast:
https://www.youtube.com/@B...
https://www.instagram.com/...
#season #ranked
The Duke duo of Jayson Tatum and Cooper Flagg were ranked first and second, respectively, before the newest member of the Philadelphia 76ers (Jaylen Brown) came in at No. 3. No. 4 is a much more controversial choice, as Jalen Williams of the Oklahoma City Thunder was given the nod over Durant despite playing in just 33 contests last year. Kawhi Leonard (Raptors), Deni Avdija (Trail Blazers), Franz Wagner (Orlando Magic), Brandon Ingram (Clippers) and Brandon Miller (Hornets) rounded out the top-10.
For more NBA content, check out the BasketBaltes podcast:
https://www.youtube.com/@B...
https://www.instagram.com/...
#season #ranked
2 months ago
Mavericks predicted to cut ties with $54M high-motor veteran rim runner, not Kyrie Irving originally appeared on The Sporting News. Add The Sporting News as a Preferred Source by clicking here.
The Dallas Mavericks are at an interesting crossroads with their organization right now as they try to figure out the best moves for their future. They have a Rookie of the Year in Cooper Flagg, but the biggest question is about what they are building around him.
Kyrie Irving is set to be the point guard, but his time in Dallas may come to an end as early as this season.
"The Mavericks, as we've been writing since mid-June, have consistently swatted away trade interest this offseason in nine-times-an-All-Star guard Kyrie Irving. Rival teams, however, continue to wonder aloud about how firmly Dallas will stick to that stance once the season begins and the next in-season trade deadline on Feb. 11 gradually approaches. The primary factor fueling that curiosity, of course, is that fact that Irving is 34 and Mavericks star forward Cooper Flagg is 19. Not your average age gap between the team's two best players," The Stein Line's Marc Stein wrote.
While Irving could be on the trade block soon, PJ Washington and Daniel Gafford have also been mentioned. Heavy.com's Sean Deveney believes it will be Gafford that gets traded.
#irving
The Dallas Mavericks are at an interesting crossroads with their organization right now as they try to figure out the best moves for their future. They have a Rookie of the Year in Cooper Flagg, but the biggest question is about what they are building around him.
Kyrie Irving is set to be the point guard, but his time in Dallas may come to an end as early as this season.
"The Mavericks, as we've been writing since mid-June, have consistently swatted away trade interest this offseason in nine-times-an-All-Star guard Kyrie Irving. Rival teams, however, continue to wonder aloud about how firmly Dallas will stick to that stance once the season begins and the next in-season trade deadline on Feb. 11 gradually approaches. The primary factor fueling that curiosity, of course, is that fact that Irving is 34 and Mavericks star forward Cooper Flagg is 19. Not your average age gap between the team's two best players," The Stein Line's Marc Stein wrote.
While Irving could be on the trade block soon, PJ Washington and Daniel Gafford have also been mentioned. Heavy.com's Sean Deveney believes it will be Gafford that gets traded.
#irving
2 months ago
With the bulk of the 2026 NBA offseason now concluded, and with the calendar now flipped to September, it's time to start looking ahead to what's coming next in the NBA, both this season and afterward.
In that spirit, and in the interest of killing some time in the dying days of summer, let's take a look at the five* most interesting players — to me! — who are entering their sophomore seasons.
(We've previously considered my five most interesting potential free agents in the class of 2027 and my five most interesting comeback players for next season.)
One note: I decided not to include the top three finishers in 2025-26 Rookie of the Year voting: winner Cooper Flagg of the Dallas Mavericks, runner-up Kon Knueppel of the Charlotte Hornets and third-place finisher VJ Edgecombe of the Philadelphia 76ers.
(Taylor Wilhelm/Yahoo Sports Illustration)
#five #next
In that spirit, and in the interest of killing some time in the dying days of summer, let's take a look at the five* most interesting players — to me! — who are entering their sophomore seasons.
(We've previously considered my five most interesting potential free agents in the class of 2027 and my five most interesting comeback players for next season.)
One note: I decided not to include the top three finishers in 2025-26 Rookie of the Year voting: winner Cooper Flagg of the Dallas Mavericks, runner-up Kon Knueppel of the Charlotte Hornets and third-place finisher VJ Edgecombe of the Philadelphia 76ers.
(Taylor Wilhelm/Yahoo Sports Illustration)
#five #next
2 months ago
Two Colts defensive backs were fined for preseason infractions that did not include on-field penalties.
Veteran cornerback Cam Taylor-Britt was fined $7,791 for striking/kicking/tripping/kneeing in the team's preseason finale against the Detroit Lions, and safety Trey Washington was fined $5,583 for a facemask in the team's preseason loss to Atlanta.
Neither defensive back was flagged for a penalty on the play that led to their fines.
Washington's face mask happened on a 20-yard completion from Falcons quarterback Jack Strand to wide receiver Chris Blair in the second quarter of the preseason game at Lucas Oil Stadium. Washington is listed as one of two tacklers on the play; former Colts cornerback Mekhi Blackmon was also involved in the tackle.
Buy Colts tickets
#fined #washington #cornerback #veteran
Veteran cornerback Cam Taylor-Britt was fined $7,791 for striking/kicking/tripping/kneeing in the team's preseason finale against the Detroit Lions, and safety Trey Washington was fined $5,583 for a facemask in the team's preseason loss to Atlanta.
Neither defensive back was flagged for a penalty on the play that led to their fines.
Washington's face mask happened on a 20-yard completion from Falcons quarterback Jack Strand to wide receiver Chris Blair in the second quarter of the preseason game at Lucas Oil Stadium. Washington is listed as one of two tacklers on the play; former Colts cornerback Mekhi Blackmon was also involved in the tackle.
Buy Colts tickets
#fined #washington #cornerback #veteran
2 months ago
Oregon Ducks football coach Dan Lanning wasn't all that pleased following his team's 34-27 win over Boise State in the 2026 season opener. The Ducks were sloppy much of the time, and while some mistakes are expected in first games, others were compounded by miscues that just can't happen, first game or not.
The Ducks were flagged 10 times for 90 yards, and some of those were costly, directly leading to Boise State scoring just a couple of plays later.
There was a lot of bad in that game, but there was a lot of good also. Oregon managed to play through the adversity, erase a 10-point deficit, and eventually hang on to win against a determined Broncos team that showed why they are favorites to win the new Pac-12 this year.
Now the Ducks will face a different kind of adversity as they go on the road for the first time this season, a trip to Stillwater, Okla., to face a brand new Oklahoma State team. This isn't the team Oregon played just a year ago and pounded 69-3. The Cowboys have 91 new scholarship players, so film is limited. They did play at Tulsa last week, but OSU fell 24-10.
Here's everything Lanning had to say in his weekly Monday night press conference before preparing to face the Big 12 team.
#team #season
The Ducks were flagged 10 times for 90 yards, and some of those were costly, directly leading to Boise State scoring just a couple of plays later.
There was a lot of bad in that game, but there was a lot of good also. Oregon managed to play through the adversity, erase a 10-point deficit, and eventually hang on to win against a determined Broncos team that showed why they are favorites to win the new Pac-12 this year.
Now the Ducks will face a different kind of adversity as they go on the road for the first time this season, a trip to Stillwater, Okla., to face a brand new Oklahoma State team. This isn't the team Oregon played just a year ago and pounded 69-3. The Cowboys have 91 new scholarship players, so film is limited. They did play at Tulsa last week, but OSU fell 24-10.
Here's everything Lanning had to say in his weekly Monday night press conference before preparing to face the Big 12 team.
#team #season
2 months ago
CrowdStrike (CRWD) looks like one of the strongest growth stories in cybersecurity right now. It had a lot to prove in the fiscal second-quarter earnings. The company delivered on all three numbers that I flagged ahead of the Q2 print, and in some cases it did much better than expected. And the stock's massive 90% gains so far this year reflect that outstanding performance.
With a market cap of $220 billion, CrowdStrike is a cloud-based cybersecurity company best known for its Falcon platform. The company helps businesses protect endpoints, cloud workloads, identities, and other parts of their technology infrastructure from cyber threats.
How to Play SNPS Stock as Layoffs Hit Synopsys
Micron Stock More Than Tripled in 2026. Now Taiwan Strike Threat Could Shake the AI Boom.
Dear Adobe Stock Fans, Mark Your Calendars for September 10
#Stock #company #Cybersecurity
With a market cap of $220 billion, CrowdStrike is a cloud-based cybersecurity company best known for its Falcon platform. The company helps businesses protect endpoints, cloud workloads, identities, and other parts of their technology infrastructure from cyber threats.
How to Play SNPS Stock as Layoffs Hit Synopsys
Micron Stock More Than Tripled in 2026. Now Taiwan Strike Threat Could Shake the AI Boom.
Dear Adobe Stock Fans, Mark Your Calendars for September 10
#Stock #company #Cybersecurity
2 months ago
Virginia Tech is off to a sensational start in the James Franklin era after cruising to a 73-3 victory over VMI. The new Virginia Tech head coach watched his team deliver a dominant performance in its season opener and praised several aspects afterward.
However, one moment during the blowout victory genuinely irritated Franklin. Officials penalized the Hokies for a celebration, and their head coach did not hesitate to express his frustration with the call, leading to plenty of reactions from college football fans.
College football has specific rules governing excessive celebrations, and Virginia Tech found itself on the wrong side of one of them in its opening game.
Officials flagged Virginia Tech running back Marcellous Hawkins Jr. for unsportsmanlike conduct after he scored his third touchdown and immediately made his way toward a large group of cadets.
Hawkins proceeded to high-five several of them, but an official in the end zone determined that the celebration warranted a penalty.
#franklin #college #head #several
However, one moment during the blowout victory genuinely irritated Franklin. Officials penalized the Hokies for a celebration, and their head coach did not hesitate to express his frustration with the call, leading to plenty of reactions from college football fans.
College football has specific rules governing excessive celebrations, and Virginia Tech found itself on the wrong side of one of them in its opening game.
Officials flagged Virginia Tech running back Marcellous Hawkins Jr. for unsportsmanlike conduct after he scored his third touchdown and immediately made his way toward a large group of cadets.
Hawkins proceeded to high-five several of them, but an official in the end zone determined that the celebration warranted a penalty.
#franklin #college #head #several
2 months ago
Juventus had won their first two games of the season, but it would be entirely fair to say that they had come close to leaving those matches ruing missed opportunities. Each of them could've been put away long time before they were, and indeed one of the major talking points headed into Sunday's matchup against AC Milan was the fact that the Bianconeri had gotten the results without reaching the level of performance they desired. Milan were in the same boat, winning two straight under new manager Ruben Amorim but not convincing in either. It felt as though the team that managed to perform better would be the likelier to come out of the Allianz on top.
It was ultimately Juve that had the better of a game that was equal parts chaotic and sloppy. But once again they failed to take advantage of their performances. They failed to make the most of the chances they made over the game's first 70 minutes before Milan scored on — stop me if you've heard this one before — their first shot on target of the match. It took until the second minute of stoppage time for Juve to finally even things out, when Federico Gatti powered home a Teun Koopmeiners cross from six yards to earn the Old Lady a 1-1 draw.
The problems for Juventus were the same as we've talked about all season so far. The finishing wasn't nearly good enough, the passing was disjointed and often inaccurate, and overall creativity seemed to be lacking. But in spite of all of that, they can honestly say that they were the better of the two sides and deserved victory — even more so when you consider the fact that Milan's goal really should've been disallowed for a foul in the buildup that was never flagged by VAR. Considering they were missing seven players due to injury, several of whom were extremely important, it's far too early to start abandoning hope of a successful year—provided they make the improvements that their play so far suggest is possible.
Luciano Spalletti was missing Kenan Yildiz, Weston McKennie, Khéphren Thuram, Andrea Cambiaso, Jeff Ekhator, Juan Cabal, and Pape Matar Sarr. His 4-2-3-1 formation gave several players their first starts of the year. Guglielmo Vicario started behind the back four of Pierre Kalulu, Bremer, Jhon Lucumí, and Zeki Celik. Manuel Locatelli and Douglas Luiz started in the middle of the park, while Francisco Conceição joined Nico González and Kerim Alajbegovic behind Randal Kolo Muani in attack.
Amorim missed Matteo Gabbia due to an ankle injury, but returned a few players to the starting lineup who had been eased back into things after long World Cup runs. Mike Maignan started in goal, ahead of a 3-4-2-1 setup that was a slight tweak to Amorim's usual 3-4-3. Former Juve prospect Koni De Winter joined Strahinja Pavolovic and Mario Gila in defense. Big-money signing Diego Moreira got his first start of the season opposite Pervis Estupiñán at the wing-back spots, while Luka Modric and Yunis Musah manned the double pivot. Adrien Rabiot joined Alexis Saele
It was ultimately Juve that had the better of a game that was equal parts chaotic and sloppy. But once again they failed to take advantage of their performances. They failed to make the most of the chances they made over the game's first 70 minutes before Milan scored on — stop me if you've heard this one before — their first shot on target of the match. It took until the second minute of stoppage time for Juve to finally even things out, when Federico Gatti powered home a Teun Koopmeiners cross from six yards to earn the Old Lady a 1-1 draw.
The problems for Juventus were the same as we've talked about all season so far. The finishing wasn't nearly good enough, the passing was disjointed and often inaccurate, and overall creativity seemed to be lacking. But in spite of all of that, they can honestly say that they were the better of the two sides and deserved victory — even more so when you consider the fact that Milan's goal really should've been disallowed for a foul in the buildup that was never flagged by VAR. Considering they were missing seven players due to injury, several of whom were extremely important, it's far too early to start abandoning hope of a successful year—provided they make the improvements that their play so far suggest is possible.
Luciano Spalletti was missing Kenan Yildiz, Weston McKennie, Khéphren Thuram, Andrea Cambiaso, Jeff Ekhator, Juan Cabal, and Pape Matar Sarr. His 4-2-3-1 formation gave several players their first starts of the year. Guglielmo Vicario started behind the back four of Pierre Kalulu, Bremer, Jhon Lucumí, and Zeki Celik. Manuel Locatelli and Douglas Luiz started in the middle of the park, while Francisco Conceição joined Nico González and Kerim Alajbegovic behind Randal Kolo Muani in attack.
Amorim missed Matteo Gabbia due to an ankle injury, but returned a few players to the starting lineup who had been eased back into things after long World Cup runs. Mike Maignan started in goal, ahead of a 3-4-2-1 setup that was a slight tweak to Amorim's usual 3-4-3. Former Juve prospect Koni De Winter joined Strahinja Pavolovic and Mario Gila in defense. Big-money signing Diego Moreira got his first start of the season opposite Pervis Estupiñán at the wing-back spots, while Luka Modric and Yunis Musah manned the double pivot. Adrien Rabiot joined Alexis Saele
2 months ago
Matt Campbell was far from the being the only coach to have a solid showing in his debut with his new school. His predecessor at Penn State ended up having a pretty big day as well.
James Franklin won his head coaching debut with Virginia Tech on Saturday behind an offensive explosion against VMI. Virginia Tech's 73-3 victory was fueled in part by a handful of notable performances by some former Penn State players who chose to follow Franklin from Happy Valley to Blacksburg.
Ethan Grunkemeyer, now Virginia Tech's starting quarterback, passed for 224 yards and 2 touchdowns before giving way to his backup in the second half. Tight end Luke Reynolds was Virginia Tech's second-leading receiver with 5 catches for 50 yards and a touchdown. Defensive lineman Mylachi Williams recorded the first sack of his career in the first quarter. Messiah Mickens, a freshman running back who was set to join Penn State but ultimately stayed loyal to Franklin, had 5 carries for 23 yards in his college debut.
The Hokies out-gained VMI 619 to 83, and the defense held the Keydets to negative rushing yardage in the game (-4 yards). But it wasn't all rosy for Franklin's squad. Virginia Tech was flagged 11 times for penalties for a total of 93 penalty yards. Virginia Tech also lost the turnover battle, 2-1.
Virginia Tech's next game will be next Saturday against Old Dominion, coached by former Penn State offensive coordinator (under Franklin) Ricky Rahne. The Hokies are orchestrating a "white effect" for Lane Stadium for the game.
#Tech #game
James Franklin won his head coaching debut with Virginia Tech on Saturday behind an offensive explosion against VMI. Virginia Tech's 73-3 victory was fueled in part by a handful of notable performances by some former Penn State players who chose to follow Franklin from Happy Valley to Blacksburg.
Ethan Grunkemeyer, now Virginia Tech's starting quarterback, passed for 224 yards and 2 touchdowns before giving way to his backup in the second half. Tight end Luke Reynolds was Virginia Tech's second-leading receiver with 5 catches for 50 yards and a touchdown. Defensive lineman Mylachi Williams recorded the first sack of his career in the first quarter. Messiah Mickens, a freshman running back who was set to join Penn State but ultimately stayed loyal to Franklin, had 5 carries for 23 yards in his college debut.
The Hokies out-gained VMI 619 to 83, and the defense held the Keydets to negative rushing yardage in the game (-4 yards). But it wasn't all rosy for Franklin's squad. Virginia Tech was flagged 11 times for penalties for a total of 93 penalty yards. Virginia Tech also lost the turnover battle, 2-1.
Virginia Tech's next game will be next Saturday against Old Dominion, coached by former Penn State offensive coordinator (under Franklin) Ricky Rahne. The Hokies are orchestrating a "white effect" for Lane Stadium for the game.
#Tech #game
2 months ago
New Indiana quarterback Josh Hoover started 6-for-6 passing for 98 yards and two touchdowns in his first start with the Hoosiers, but it took some blood and sweat — literally.
In the second quarter of Indiana's season opener against North Texas on Saturday, Sept. 5, a Mean Green defender brought some pressure to Hoover in the pocket but grabbed Hoover's facemask and turned his helmet completely backward in an obvious penalty. The defender was flagged for the play, which caused a open wound to Hoover's face, which he played with the remainder of the drive.
Blood continued to drip down Hoover's face and onto his chinstrap midway through the second quarter, but the first-year TCU transfer led the Hoosiers on a touchdown drive anyway, ending in a 9-yard touchdown pass to returning starter Charlie Becker to extend their lead to 21-3.
It's quite a first impression for a quarterback aiming to fill the shoes of Fernando Mendoza, who went No. 1 overall in the 2026 NFL Draft and won the Heisman Trophy before scoring a gutty touchdown himself in the national championship.
Hoover, a three-year starter at TCU, entered the game with 9,629 career passing yards and 79 total touchdowns to 33 interceptions. His first touchdown as a Hoosier was a beautiful back-shoulder pass to Michigan State transfer Nick Marsh, who caught the pass one-handed for what was also his first score.
#hoover #touchdown #blood #passing
In the second quarter of Indiana's season opener against North Texas on Saturday, Sept. 5, a Mean Green defender brought some pressure to Hoover in the pocket but grabbed Hoover's facemask and turned his helmet completely backward in an obvious penalty. The defender was flagged for the play, which caused a open wound to Hoover's face, which he played with the remainder of the drive.
Blood continued to drip down Hoover's face and onto his chinstrap midway through the second quarter, but the first-year TCU transfer led the Hoosiers on a touchdown drive anyway, ending in a 9-yard touchdown pass to returning starter Charlie Becker to extend their lead to 21-3.
It's quite a first impression for a quarterback aiming to fill the shoes of Fernando Mendoza, who went No. 1 overall in the 2026 NFL Draft and won the Heisman Trophy before scoring a gutty touchdown himself in the national championship.
Hoover, a three-year starter at TCU, entered the game with 9,629 career passing yards and 79 total touchdowns to 33 interceptions. His first touchdown as a Hoosier was a beautiful back-shoulder pass to Michigan State transfer Nick Marsh, who caught the pass one-handed for what was also his first score.
#hoover #touchdown #blood #passing
2 months ago
After a slow start to the season, there would have been hope that this fixture against Nottingham Forest would be the moment things started to click for Tottenham Hotspur. Instead, Spurs had to settle for a goalless draw as their wait for a first Premier League goal of the season continued.
Roberto De Zerbi made three changes from the loss against Newcastle United, with Destiny Udogie and Savio getting their first league starts of the season, and Conor Gallagher returning to the XI in favor of Mateus Fernandes. Forest made one change, as Liam Delap was preferred to Igor Jesus up front.
This first half was full of physicality but not much quality. Both sides struggled to create clearcut scoring opportunities, with set pieces and long-range efforts the only real threats from either side. There was a sort of symmetry to the chance creation, though, as both Spurs and Forest saw attackers in behind one-on-one with the keeper only for the attacker to fail to capitalize and the referee to also call the play back. Omar Marmoush for Spurs was the first, breaking away from Neco Williams to latch onto Porro's long ball, only for a foul to be awarded to Williams for a shove by the Egyptian; while Morgan Gibbs-White was flagged for offside as he sprinted in behind Jan Paul van Hecke.
With both sides failing to score in the first half, it looked like Forest may have opened the scoring in the second. Really poor positioning from Jan Paul van Hecke allowed Gibbs-White to get in behind; Kinsky did enough to at least deflect Gibbs-White's shot, but Sandro Tonali whiffed on a clearance before Williams appeared to bundle the ball into the net by way of a diving header. It was a calamitous concession by Spurs, but one that did not stand for long, as replays showed the ball ended up in the net off Williams' arms with VAR overturning the goal.
A flurry of substitutions followed from both sides as both managers searched for a winner. Neither side was able to muster the quality to create anything to break the deadlock, however, and a late headed chance from substitute Dominic Solanke that went well over the crossbar was the final chance of a reasonably low-quality affair with the match finishing 0-0.
#SPURS #williams #only
Roberto De Zerbi made three changes from the loss against Newcastle United, with Destiny Udogie and Savio getting their first league starts of the season, and Conor Gallagher returning to the XI in favor of Mateus Fernandes. Forest made one change, as Liam Delap was preferred to Igor Jesus up front.
This first half was full of physicality but not much quality. Both sides struggled to create clearcut scoring opportunities, with set pieces and long-range efforts the only real threats from either side. There was a sort of symmetry to the chance creation, though, as both Spurs and Forest saw attackers in behind one-on-one with the keeper only for the attacker to fail to capitalize and the referee to also call the play back. Omar Marmoush for Spurs was the first, breaking away from Neco Williams to latch onto Porro's long ball, only for a foul to be awarded to Williams for a shove by the Egyptian; while Morgan Gibbs-White was flagged for offside as he sprinted in behind Jan Paul van Hecke.
With both sides failing to score in the first half, it looked like Forest may have opened the scoring in the second. Really poor positioning from Jan Paul van Hecke allowed Gibbs-White to get in behind; Kinsky did enough to at least deflect Gibbs-White's shot, but Sandro Tonali whiffed on a clearance before Williams appeared to bundle the ball into the net by way of a diving header. It was a calamitous concession by Spurs, but one that did not stand for long, as replays showed the ball ended up in the net off Williams' arms with VAR overturning the goal.
A flurry of substitutions followed from both sides as both managers searched for a winner. Neither side was able to muster the quality to create anything to break the deadlock, however, and a late headed chance from substitute Dominic Solanke that went well over the crossbar was the final chance of a reasonably low-quality affair with the match finishing 0-0.
#SPURS #williams #only
2 months ago
Bitcoin news today shows the price rose more than 5% on September 3 to trade briefly above $82,000, as concerns about a Federal Reserve rate hike eased and Treasury yields fell. Fundstrat head of digital ******* ets Sean Farrell called the move important data worth respecting, while noting Bitcoin has bucked its historically weak September pattern over the past three years.
This is not simply a one-day rebound. It is the latest data point in a debate among strategists over whether the crypto bear market has already bottomed, a thesis complicated by volatile spot Bitcoin ETF flows and a seasonal track record that still favors caution.
DISCOVER: Upcoming Binance Listings
The token's move above $82,000 follows a 25% rally in August, a month strategists have flagged as a turning point after the Treasury Department's intervention in the bond market and ******* istance to ******* an helped lift both gold and crypto prices. Some of those August gains were erased when oil prices surged and hawkish remarks from Fed Chairman Kevin Warsh raised concerns about the central bank's September rate decision, before Fed governor Christopher Waller signaled openness to holding rates steady if inflation continues to ease.
Despite the rebound, Bitcoin remains roughly 7% lower year to date and about 35% below the all-time high of more than $126,000 it reached in early October 2025. September itself carries an unfavorable base rate: Farrell noted Bitcoin has posted negative returns in nine of the past 15 years during the month, though he cautioned that seasonality is a helpful data point rather than a foolproof trading system. For more on how Treasury-yield dynamics have shaped this resilience, see Bitcoin's macro pressure and resilience, and on the ETF side, BlackRock's IBIT and the current price setup.
#september #treasury #point #farrell
This is not simply a one-day rebound. It is the latest data point in a debate among strategists over whether the crypto bear market has already bottomed, a thesis complicated by volatile spot Bitcoin ETF flows and a seasonal track record that still favors caution.
DISCOVER: Upcoming Binance Listings
The token's move above $82,000 follows a 25% rally in August, a month strategists have flagged as a turning point after the Treasury Department's intervention in the bond market and ******* istance to ******* an helped lift both gold and crypto prices. Some of those August gains were erased when oil prices surged and hawkish remarks from Fed Chairman Kevin Warsh raised concerns about the central bank's September rate decision, before Fed governor Christopher Waller signaled openness to holding rates steady if inflation continues to ease.
Despite the rebound, Bitcoin remains roughly 7% lower year to date and about 35% below the all-time high of more than $126,000 it reached in early October 2025. September itself carries an unfavorable base rate: Farrell noted Bitcoin has posted negative returns in nine of the past 15 years during the month, though he cautioned that seasonality is a helpful data point rather than a foolproof trading system. For more on how Treasury-yield dynamics have shaped this resilience, see Bitcoin's macro pressure and resilience, and on the ETF side, BlackRock's IBIT and the current price setup.
#september #treasury #point #farrell
2 months ago
Cheapest freight isn't always best, especially when a late shipment can cost millions. ShipStation Global CEO Tom Madine breaks down why SMB shippers need parcel, LTL and truckload in one workflow, and why better freight decisions now matter more than just lower rates. From the merger that created ShipStation Global to adding more modes into the platform, this conversation gets into where shipping tech is heading, how data shapes carrier selection, and what smaller shippers actually need from logistics partners. #FreightTech #LTL #SupplyChain
ShipStation Global is formally launching its less-than-truckload product, marking the first tangible freight expansion since the merger of software provider Auctane, formerly the parent of the Stamps.com andShipStation,and WWEX Group, which previously housed freight brokerages like Worldwide Express. The company's CEO said the rollout represents the opening move in a broader strategy to let small and midsize shippers purchase and manage all transportation modes through a single platform.
"Today's the first day we've really launched the LTL product," said Tom Madine, CEO of ShipStation Global, noting the company plans to add truckload, final mile, and eventually ocean and forwarding capabilities after establishing its inland position.
The strategic rationale centers on eliminating the workflow gap that forced ShipStation users to leave the platform whenever they needed to move freight beyond parcel. Customer surveys repeatedly flagged the absence of additional modes as the top improvement request, he said. With LTL now integrated, shippers can manage inbound inventory movements alongside outbound parcel without switching systems.
"Cheapest is not always best…But at the same time, you don't want to overpay," Madine said, illustrating the point with a customer whose engine shipments carry multi-million-dollar consequences if delayed.
#madine #shippers #parcel #cheapest
ShipStation Global is formally launching its less-than-truckload product, marking the first tangible freight expansion since the merger of software provider Auctane, formerly the parent of the Stamps.com andShipStation,and WWEX Group, which previously housed freight brokerages like Worldwide Express. The company's CEO said the rollout represents the opening move in a broader strategy to let small and midsize shippers purchase and manage all transportation modes through a single platform.
"Today's the first day we've really launched the LTL product," said Tom Madine, CEO of ShipStation Global, noting the company plans to add truckload, final mile, and eventually ocean and forwarding capabilities after establishing its inland position.
The strategic rationale centers on eliminating the workflow gap that forced ShipStation users to leave the platform whenever they needed to move freight beyond parcel. Customer surveys repeatedly flagged the absence of additional modes as the top improvement request, he said. With LTL now integrated, shippers can manage inbound inventory movements alongside outbound parcel without switching systems.
"Cheapest is not always best…But at the same time, you don't want to overpay," Madine said, illustrating the point with a customer whose engine shipments carry multi-million-dollar consequences if delayed.
#madine #shippers #parcel #cheapest
2 months ago
On August 12, Flywire (NASDAQ:FLYW) expanded its partnership with Trustly, bringing "Pay by Bank" open banking payments to customers across the US and Canada. The expansion lets payers authorize ACH and Pre-Authorized Debit transfers straight from their bank login, skipping the routing and account numbers that trip up so many cross-border payments. It is the kind of unglamorous plumbing upgrade that rarely makes headlines, but for a company built on moving money across borders, cutting payment friction is close to the whole business model.
Flywire and Trustly have partnered since 2017, first in Europe, and this expansion carries that same playbook into North America. Trustly runs a real-time balance check the moment a payer authorizes a transaction, catching insufficient funds before the payment is submitted rather than after. For cross-border transfers, Flywire manages the funds through the return window itself, which cuts down on the reversals that have long made international payments messy for clients and their customers alike. "We're applying the open banking infrastructure we've successfully scaled across Europe to North America, enabling our clients to confidently offer their payers a proven experience," said Kate Moran, Flywire's Vice President of Global Payments.
The timing lines up with a quarter of accelerating growth. On August 4, 2026, Flywire reported second-quarter revenue up 27.2% year over year to $167.7 million, while total payment volume jumped 38.2% to $8.2 billion. Management raised its full-year guidance for both revenue growth and adjusted EBITDA margin, and the business is no longer leaning on education alone. Flywire signed more than 200 new clients across 45 countries during the quarter, with hospitality wins spanning nearly 90 U.S. hotel properties and education revenue outside its core markets growing more than 30% year over year.
Growth came with a cost. Gross margin slipped to 53.4% in the second quarter of 2026 from 57.0% a year earlier, and adjusted gross margin fell even further, from 61.1% down to 56.6%. That is a meaningful step backward on a per-dollar basis even as the top line expanded by double digits, and it raises the question of whether faster growth is being bought with thinner margins on the payments themselves.
Flywire also still posted a GAAP net loss of $8.1 million for the quarter, an improvement from the $12.0 million loss a year earlier but a loss nonetheless. And the company's own leadership flagged caution ahead: CFO Cosmin Pitigoi said Flywire is keeping its ***** umptions for the education vertical conservative because of the current visa policy environment, an acknowledgment that the company's largest historical vertical faces headwinds outside its control.
#trustly #across #payment
Flywire and Trustly have partnered since 2017, first in Europe, and this expansion carries that same playbook into North America. Trustly runs a real-time balance check the moment a payer authorizes a transaction, catching insufficient funds before the payment is submitted rather than after. For cross-border transfers, Flywire manages the funds through the return window itself, which cuts down on the reversals that have long made international payments messy for clients and their customers alike. "We're applying the open banking infrastructure we've successfully scaled across Europe to North America, enabling our clients to confidently offer their payers a proven experience," said Kate Moran, Flywire's Vice President of Global Payments.
The timing lines up with a quarter of accelerating growth. On August 4, 2026, Flywire reported second-quarter revenue up 27.2% year over year to $167.7 million, while total payment volume jumped 38.2% to $8.2 billion. Management raised its full-year guidance for both revenue growth and adjusted EBITDA margin, and the business is no longer leaning on education alone. Flywire signed more than 200 new clients across 45 countries during the quarter, with hospitality wins spanning nearly 90 U.S. hotel properties and education revenue outside its core markets growing more than 30% year over year.
Growth came with a cost. Gross margin slipped to 53.4% in the second quarter of 2026 from 57.0% a year earlier, and adjusted gross margin fell even further, from 61.1% down to 56.6%. That is a meaningful step backward on a per-dollar basis even as the top line expanded by double digits, and it raises the question of whether faster growth is being bought with thinner margins on the payments themselves.
Flywire also still posted a GAAP net loss of $8.1 million for the quarter, an improvement from the $12.0 million loss a year earlier but a loss nonetheless. And the company's own leadership flagged caution ahead: CFO Cosmin Pitigoi said Flywire is keeping its ***** umptions for the education vertical conservative because of the current visa policy environment, an acknowledgment that the company's largest historical vertical faces headwinds outside its control.
#trustly #across #payment
2 months ago
On August 3, UFP Technologies (NASDAQ:UFPT) reported second-quarter net income of $20.9 million, up 21.4% from $17.2 million a year earlier, alongside net sales of $174.0 million, a 15.1% jump from $151.2 million. Both figures, along with adjusted earnings per share of $2.92, marked the best quarter in the company's history. For the six months ended June 30, net income reached $38.3 million on sales of $328.2 million, up from $34.4 million and $299.3 million, respectively, in the same period of 2025. The headline numbers look clean. What sits underneath them is less tidy.
The quarter's strength did not come from one customer or one product line carrying the rest. UFP Technologies' top five customers grew 14.7%, and the remainder of its MedTech business grew even faster, at 19.7%. Organic sales growth, stripping out acquisitions, still ran at 12.4% for the quarter and 6.8% for the first half, which means the base business is expanding on its own rather than relying on deals to pad the numbers. Gross margin climbed to 29.3% from 28.8% a year earlier, and operating income rose 15.5% to $28.1 million, outpacing revenue growth. Adjusted EBITDA followed the same pattern, up 14.3% to $36.4 million for the quarter.
The balance sheet moved in a healthy direction too. Long-term debt, excluding current installments, fell to $104.8 million from $122.9 million at the end of 2025, while total equity grew to $462.4 million from $423.9 million over the same stretch. UFP Technologies also added executives in business development, operations, and legal during the quarter, a sign that management is building out the organization to support the growth it is already seeing rather than reacting to it after the fact.
The same earnings release that touted record results also flagged where the strain is showing. CEO Mitch Rock said the company's ongoing investment in its Dominican Republic operations is "taking longer than anticipated" to pay off and is creating "near-term mix and margin pressure" within the U.S. business. That is a direct admission that the expansion driving future capacity is costing money today. Selling, general and administrative expenses grew 21.8% to $22.8 million, faster than the 15.1% sales growth, pushing SG&A as a percentage of sales up to 13.1% from 12.4%. On an adjusted basis, SG&A crept up to 11.7% of sales from 10.8%.
Not every part of the business is contributing to the growth story either. While MedTech surged, the non-medical segment was flat for the quarter, leaving the entire growth burden on one part of the portfolio. Cash on hand also dropped sharply, falling to $9.0 million from $20.3 million at the end of 2025, even as receivables grew to $113.2 million from $82.9 million and inventories rose to $100.1 million from $86.9 million, a combination that suggests working capital is absorbing more cash than it used to.
#sales
The quarter's strength did not come from one customer or one product line carrying the rest. UFP Technologies' top five customers grew 14.7%, and the remainder of its MedTech business grew even faster, at 19.7%. Organic sales growth, stripping out acquisitions, still ran at 12.4% for the quarter and 6.8% for the first half, which means the base business is expanding on its own rather than relying on deals to pad the numbers. Gross margin climbed to 29.3% from 28.8% a year earlier, and operating income rose 15.5% to $28.1 million, outpacing revenue growth. Adjusted EBITDA followed the same pattern, up 14.3% to $36.4 million for the quarter.
The balance sheet moved in a healthy direction too. Long-term debt, excluding current installments, fell to $104.8 million from $122.9 million at the end of 2025, while total equity grew to $462.4 million from $423.9 million over the same stretch. UFP Technologies also added executives in business development, operations, and legal during the quarter, a sign that management is building out the organization to support the growth it is already seeing rather than reacting to it after the fact.
The same earnings release that touted record results also flagged where the strain is showing. CEO Mitch Rock said the company's ongoing investment in its Dominican Republic operations is "taking longer than anticipated" to pay off and is creating "near-term mix and margin pressure" within the U.S. business. That is a direct admission that the expansion driving future capacity is costing money today. Selling, general and administrative expenses grew 21.8% to $22.8 million, faster than the 15.1% sales growth, pushing SG&A as a percentage of sales up to 13.1% from 12.4%. On an adjusted basis, SG&A crept up to 11.7% of sales from 10.8%.
Not every part of the business is contributing to the growth story either. While MedTech surged, the non-medical segment was flat for the quarter, leaving the entire growth burden on one part of the portfolio. Cash on hand also dropped sharply, falling to $9.0 million from $20.3 million at the end of 2025, even as receivables grew to $113.2 million from $82.9 million and inventories rose to $100.1 million from $86.9 million, a combination that suggests working capital is absorbing more cash than it used to.
#sales
2 months ago
On August 26, Movado Group (NYSE:MOV) reported second-quarter fiscal 2027 results that pushed adjusted earnings per share to $0.54 from $0.23 a year earlier, while net sales climbed 4.9% to $169.8 million. The jewelry and watch company also confirmed it will stop issuing annual financial guidance going forward, choosing instead to focus commentary on near-term trends. For a business built on Swiss craftsmanship and a stable of licensed fashion brands, the quarter marked a fifth straight period of positive momentum, and it came with a few surprises tucked inside the numbers.
Some of the headline strength came from a one-time source: $3.2 million in IEEPA duty refunds tied to tariffs paid between February 2025 and May 2026, which lifted GAAP gross margin to 59.4% from 54.1%. But strip that out and adjusted gross margin still rose 340 basis points to 57.5%, driven by favorable channel and product mix, strategic pricing, and less discounting. Growth was broad rather than concentrated in one line item. US net sales rose 4.9%, international sales rose 4.9% as well (4.1% in constant currency), and Latin America and India posted particularly strong results.
Movado.com sales jumped 8%, and Olivia Burton sales grew 23%, powered by small-shaped watches focused on the U.K. and US markets. The company also flagged a resurgence in traditional watch interest among younger buyers, pointing to the Baby Face mini strap watch, which sold out more than 400 units on movado.com in under a month. Looking ahead, Movado is expanding its Tapestry partnership to launch Kate Spade watches starting next fiscal year. The balance sheet backs up the momentum, with $211.6 million in cash, no debt, and $16.6 million already returned to shareholders through dividends this year.
Not every piece of this quarter travels into the second half. Management was explicit that the favorable mix of lower duty rate inventory that padded margins is temporary and is not expected to continue, and second-half gross margin guidance of 55% to 56% reflects that normalization. Sallie DeMarsilis also noted that gross margin gains were partially offset by higher shipping costs tied to fuel surcharges and rising e-commerce volume.
Geographically, the Middle East remains a soft spot, with Efraim Grinberg citing tourism-related headwinds in a region still affected by regional conflict. Operating expenses rose to $85.7 million from $80.6 million, largely on higher performance-based compensation and marketing spend. There is also a smaller but notable item: a $0.2 million pretax charge tied to a misconduct investigation within a Dubai-based Swiss subsidiary branch. And while Movado expects to recover another $6.8 million in IEEPA duties, it has chosen not to recognize that gain until the cash actually arrives, a reminder that not all of this quarter's tailwind is guaranteed to repeat.
#second
Some of the headline strength came from a one-time source: $3.2 million in IEEPA duty refunds tied to tariffs paid between February 2025 and May 2026, which lifted GAAP gross margin to 59.4% from 54.1%. But strip that out and adjusted gross margin still rose 340 basis points to 57.5%, driven by favorable channel and product mix, strategic pricing, and less discounting. Growth was broad rather than concentrated in one line item. US net sales rose 4.9%, international sales rose 4.9% as well (4.1% in constant currency), and Latin America and India posted particularly strong results.
Movado.com sales jumped 8%, and Olivia Burton sales grew 23%, powered by small-shaped watches focused on the U.K. and US markets. The company also flagged a resurgence in traditional watch interest among younger buyers, pointing to the Baby Face mini strap watch, which sold out more than 400 units on movado.com in under a month. Looking ahead, Movado is expanding its Tapestry partnership to launch Kate Spade watches starting next fiscal year. The balance sheet backs up the momentum, with $211.6 million in cash, no debt, and $16.6 million already returned to shareholders through dividends this year.
Not every piece of this quarter travels into the second half. Management was explicit that the favorable mix of lower duty rate inventory that padded margins is temporary and is not expected to continue, and second-half gross margin guidance of 55% to 56% reflects that normalization. Sallie DeMarsilis also noted that gross margin gains were partially offset by higher shipping costs tied to fuel surcharges and rising e-commerce volume.
Geographically, the Middle East remains a soft spot, with Efraim Grinberg citing tourism-related headwinds in a region still affected by regional conflict. Operating expenses rose to $85.7 million from $80.6 million, largely on higher performance-based compensation and marketing spend. There is also a smaller but notable item: a $0.2 million pretax charge tied to a misconduct investigation within a Dubai-based Swiss subsidiary branch. And while Movado expects to recover another $6.8 million in IEEPA duties, it has chosen not to recognize that gain until the cash actually arrives, a reminder that not all of this quarter's tailwind is guaranteed to repeat.
#second
2 months ago
On August 25, Box Inc. (NYSE:BOX) reported second-quarter fiscal 2027 results that beat management's own guidance across the board, with revenue climbing 9% to $321.1 million as customers piled into the company's priciest tier, Enterprise Advanced. The bigger story sits underneath the headline number. Box is repositioning itself as the security layer that lets AI agents from Anthropic, Databricks, and Slack actually touch a company's files, and that shift is starting to show up in the billings line.
Billings jumped 17% to $309.5 million, a figure management tied directly to booking strength and record second-quarter wins, which suggests customers are signing bigger contracts rather than trickling in seat by seat. Net retention rose to 106%, ahead of the 105% the company had guided to, driven by both seat expansion and higher price per seat. That combination matters because it means existing customers are both growing their headcount on the platform and paying more per person, a dual engine that is harder to replicate than growth from new logos alone. Suites, Box's bundled higher-tier offering, now make up 69% of revenue, up from 63% a year earlier, and customers paying at least $100,000 annually grew 10% year over year.
A major federal agency illustrated the pattern in the flesh, upgrading to Enterprise Advanced with a fourfold seat expansion to replace several separate software vendors it had been using for contract management and research. Operating margin expanded to 29.4%, and free cash flow jumped 67% to $59.7 million, evidence that the growth is not being bought with discounts. Box also introduced new Model Context Protocol integrations with partners including Anthropic, Databricks, and Slack, letting AI agents execute multistep tasks directly inside a customer's Box environment rather than just answering questions about files stored there.
Not everything in the quarter was clean. CFO Dylan Smith flagged that gross margin faces a constraint tied to "limited access to certain components of the infrastructure," language that points to capacity limits at the cloud providers Box relies on to run its AI features, and management guided third-quarter gross margin down to roughly 80.5% from the 81.2% just posted. Operating margin guidance for the third quarter also steps down to about 28%, a full percentage point below the 29.4% Box just delivered, even as the top line keeps growing.
Currency is another drag that will not disappear on its own. The company absorbed a $0.04 per share hit from foreign exchange in the quarter and expects roughly $0.09 off full-year earnings per share, which is baked into the raised full-year EPS guidance of $1.54. And while 9% reported revenue growth beat expectations, it is still a business growing in the high single digits, a pace that leaves little room for stumbles if Enterprise Advanced adoption cools or larger AI platforms decide to build competing file-governance tools of their own rather than partner with B
Billings jumped 17% to $309.5 million, a figure management tied directly to booking strength and record second-quarter wins, which suggests customers are signing bigger contracts rather than trickling in seat by seat. Net retention rose to 106%, ahead of the 105% the company had guided to, driven by both seat expansion and higher price per seat. That combination matters because it means existing customers are both growing their headcount on the platform and paying more per person, a dual engine that is harder to replicate than growth from new logos alone. Suites, Box's bundled higher-tier offering, now make up 69% of revenue, up from 63% a year earlier, and customers paying at least $100,000 annually grew 10% year over year.
A major federal agency illustrated the pattern in the flesh, upgrading to Enterprise Advanced with a fourfold seat expansion to replace several separate software vendors it had been using for contract management and research. Operating margin expanded to 29.4%, and free cash flow jumped 67% to $59.7 million, evidence that the growth is not being bought with discounts. Box also introduced new Model Context Protocol integrations with partners including Anthropic, Databricks, and Slack, letting AI agents execute multistep tasks directly inside a customer's Box environment rather than just answering questions about files stored there.
Not everything in the quarter was clean. CFO Dylan Smith flagged that gross margin faces a constraint tied to "limited access to certain components of the infrastructure," language that points to capacity limits at the cloud providers Box relies on to run its AI features, and management guided third-quarter gross margin down to roughly 80.5% from the 81.2% just posted. Operating margin guidance for the third quarter also steps down to about 28%, a full percentage point below the 29.4% Box just delivered, even as the top line keeps growing.
Currency is another drag that will not disappear on its own. The company absorbed a $0.04 per share hit from foreign exchange in the quarter and expects roughly $0.09 off full-year earnings per share, which is baked into the raised full-year EPS guidance of $1.54. And while 9% reported revenue growth beat expectations, it is still a business growing in the high single digits, a pace that leaves little room for stumbles if Enterprise Advanced adoption cools or larger AI platforms decide to build competing file-governance tools of their own rather than partner with B
