Zoom Communications, Inc.

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Средний индекс, значительно вырос. Рынок на стороне быков.

Medium index, significantly up. The market is on the bulls' side.

Средний индекс, незначительно вырос. Отток средств из лонгов снизился, но остается значительным.

Medium index, slightly up. The outflow of funds from longs has decreased, but remains significant.

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the WisdomTree U.S. Value Fund (Symbol: WTV) where we have detected an approximate $230.9 million dollar outflow -- that's a 6.6% decrease week over week (from 33,120,000 to 30,950,000). Among the largest underlying components of WTV, in trading today Target Corp (Symbol: TGT) is up about 0.7%, Zoom Communications Inc (Symbol: ZM) is down about 0.5%, and Southwest Airlines Co (Symbol: LUV) is up by about 1.2%. For a complete list of holdings, visit the WTV Holdings page » The chart below shows the one year price performance of WTV, versus its 200 day moving average:
Looking at the chart above, WTV's low point in its 52 week range is $87.88 per share, with $109.7419 as the 52 week high point — that compares with a last trade of $105.95. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further WTV Research:

WisdomTree U.S. Value Fund Experiences Big Outflow

Key Points
Zoom Communications owns a stake in Anthropic worth billions.
Zoom's underlying business is performing well.
After subtracting out the values of its cash pile and the Anthropic investment, Zoom's enterprise value is much lower than investors would expect.
Anthropic's initial public offering (IPO) appears to be on pace to take place in late October or early November. Right now, it is difficult for retail investors to get a stake in the artificial intelligence (AI) giant, which is one of the fastest-growing businesses in the world.
But there is an investment you could make that would get you sizable indirect exposure to Anthropic ahead of its listing. Zoom Communications (NASDAQ: ZM), the leading cloud video conferencing company, bought a stake in Anthropic back in May 2023, and that investment could now be worth billions.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Let's see whether that makes Zoom stock a buy right now.
Zoom's stake in Anthropic, estimated
Zoom made a $51 million investment in Anthropic in May 2023, and that has turned out to be one of the smartest decisions the company has ever made (maybe even smarter than its choice to go public right before the pandemic).
The valuation of Anthropic has been climbing, and Zoom has regularly reflected that growth on its balance sheet. As of the end of its last quarter, it valued its stake in the company at $3.13 billion, a figure it based on the $965 billion market value that Anthropic was credited with in its last private equity funding round.
If Anthropic goes public later this year as expected, it will be targeting a valuation of $2 trillion or higher. Depending on how the resulting dilution shakes out, Zoom's stake in Anthropic could be worth around $7 billion at the time of the IPO, up from just $51 million a few years ago. Compared to Zoom's current market cap of $27 billion, that stake would be 26% of its equity value.
How is Zoom's business actually doing?
Since its pandemic boom period, Zoom's business has gone through many gyrations. Today, its subscriptions for online video calls seem to have stabilized, albeit at a much lower revenue level, with churn stable at 2.9% last quarter compared to a year prior.
The company continues to make strides with its enterprise suite, which saw 8% revenue growth last quarter. Total remaining performance obligations grew by 14% to $4.5 billion. Enterprises are expanding their contracts with Zoom because of the new products it has launched in recent years, such as Zoom Phone, call center services, AI note-taking, and many other custom solutions for larger developers.
At the same time, it is now a genuinely profitable business, with a GAAP (generally accepted accounting principles) operating margin of 25% last quarter, and $1.9 billion in free cash flow over the last 12 months.
Is Zoom stock actually a buy?
When evaluating Zoom stock, it is smart to weigh it relative to the company's enterprise value (EV), a metric that factors out its equity investments and the cash on its balance sheet. That's because with Zoom, its Anthropic stake and other equity investments in start-ups may be worth $7.5 billion at the time of the Anthropic IPO.
Subtract that from the $27 billion market cap, and you have $19.5 billion. Moreover, Zoom also had around $7.2 billion in cash and equivalents on its balance sheet. Subtract that from the market cap as well, and you get an enterprise value of $12.3 billion.
Over the last 12 months, Zoom has generated earnings before interest and taxes (EBIT) of $1.2 billion and free cash flow of $1.9 billion. That gives it an EV/EBIT ratio of just below 10 for a business with steadily growing revenues.
Plus, Zoom management is starting to use some of its cash to repurchase stock. Shares outstanding are now down 6% from their peak. Some investors might prefer a more aggressive pace of buybacks given the company's relatively massive cash pile and its nice free cash flow generation, but even the current level of repurchases adds to the argument that Zoom Video stock looks like a solid buy at today's prices.
Should you buy stock in Zoom Communications right now?
Before you buy stock in Zoom Communications, consider this:
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Buying This Hidden Software Stock Might Just Give You Massive Exposure to the Anthropic IPO

Salesforce, Inc. CRM is seeing momentum from Slack, and rising Slackbot usage could become a growth driver. In the second quarter of fiscal 2027, Slackbot users increased more than 150% sequentially, while Slack delivered its fastest quarterly net new annual order value (NNAOV) growth since Salesforce acquired the platform.
The momentum matters because Salesforce has been working to reignite growth as its core business matures. Slack is becoming more than a collaboration tool as Salesforce adds artificial intelligence (AI) capabilities that can automate tasks and connect employees with business data.
During its second-quarterearnings call the company revealed that upgrades to premium Slack additions tripled after Slackbot launched. It also reported that bookings for Agentforce One Edition and Agentforce for Apps more than doubled quarter over quarter. These trends suggest customers are moving beyond AI trials toward higher-value offerings.
Slack’s stronger performance is already supporting Salesforce’s results. Second-quarter revenues rose 11% year over year to $11.35 billion, while subscription and support revenues increased 12% to $10.82 billion. The company cited continued strength in Slack and Agentforce as key contributors to the quarter.
Slack’s rising AI adoption gives Salesforce another path to expand customer spending. If Slackbot momentum continues, Slack could become an increasingly important catalyst for Salesforce’s growth and help support a broader acceleration in the company’s revenues over time. The Zacks Consensus Estimate for fiscal 2027 and 2028 revenues indicates year-over-year growth of 11.3% and 9.6%, respectively.
Salesforce’s Competitors Challenge Slack’s AI Momentum
Salesforce faces strong competition from Microsoft Corporation MSFT and Zoom Communications ZM as Slack evolves into an AI-powered workplace platform. Both rivals are embedding generative AI into workplace collaboration platforms to increase customer engagement and drive higher software spending.
Microsoft has integrated Copilot across Microsoft Teams and Microsoft 365, giving users AI-powered meeting summaries, content creation and workflow automation. This strategy is helping expand the value of its productivity suite.
In the fourth quarter of fiscal 2026, Microsoft reported revenues of $90 billion, up 18% year over year, while Microsoft 365 Commercial cloud revenues increased 14%. The company also reported Azure revenue growth of 43%, providing a strong foundation for continued AI investments that compete directly with Salesforce's Slack ecosystem.
Zoom is also expanding beyond video conferencing by embedding Zoom AI Companion across meetings, chat and contact center offerings. In the second quarter of fiscal 2027, Zoom's enterprise revenues increased 7.8% year over year to about $787.5 million, while enterprise customers generating more than $100,000 in annual revenues grew 8.2% to nearly 4,625.
Zoom is using AI to encourage customers to adopt multiple products, similar to Salesforce's strategy of linking Slack with Agentforce and Data 360.
Salesforce’s Price Performance, Valuation and Estimates
Salesforce shares have declined 3.5% year to date, while the Zacks Internet – Software industry has risen 2.9%.
Salesforce YTD Price Return Performance
From a valuation standpoint, CRM trades at a forward price-to-earnings ratio of 16.01, significantly below the industry’s average of 28.78.
Salesforce Forward 12-Month P/E Ratio
The Zacks Consensus Estimate for Salesforce’s fiscal 2027 earnings implies a year-over-year increase of approximately 30.3%, while estimates for fiscal 2028 indicate a 3.4% decline. Estimates for fiscal 2027 and 2028 earnings have been revised upward in the past 30 days.
Salesforce currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Slackbot Users Jump 150%: Can Slack Reignite Salesforce's Growth?

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Fidelity Value Factor ETF (Symbol: FVAL) where we have detected an approximate $190.4 million dollar outflow -- that's a 12.1% decrease week over week (from 19,000,000 to 16,700,000). Among the largest underlying components of FVAL, in trading today Cognizant Technology Solutions Corp. (Symbol: CTSH) is up about 1.8%, HP Inc (Symbol: HPQ) is up about 0.2%, and Zoom Communications Inc (Symbol: ZM) is up by about 2.6%. For a complete list of holdings, visit the FVAL Holdings page » The chart below shows the one year price performance of FVAL, versus its 200 day moving average:
Looking at the chart above, FVAL's low point in its 52 week range is $67.192 per share, with $83.57 as the 52 week high point — that compares with a last trade of $83.14. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further FVAL Research:

Noteworthy ETF Outflows: FVAL, CTSH, HPQ, ZM

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Zoom (ZM) Q2 2027 Earnings Call Transcript

The S&P 500 Index ($SPX) (SPY) closed down by -0.02% on Wednesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +0.05%. E-mini S&P futures (ESU26) rose +0.02%, and September E-mini Nasdaq futures (NQU26) rose +0.08%.
Stock indices settled little changed on Wednesday. The broader market lacked direction on Wednesday ahead of Nvidia’s earnings results after the close. Wednesday’s US economic news was mixed for stocks. July capital goods new orders nondefense ex-aircraft and parts, a proxy for capital spending, rose less than expected, but July personal spending and personal income rose more than expected.
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However, higher bond yields limited stock gains as Wednesday’s US inflation news showed inflation remained above the Fed’s 2% target, potentially leading to a Fed rate hike sometime this year. The Q2 core PCE price index was revised upward, and the July core PCE price index, the Fed's preferred inflation gauge, advanced in line with expectations. The 10-year T-note yield rose +2 bp to 4.66%.
Wednesday’s earnings results were mixed, with J M Smucker closing up more than +4% after reporting stronger-than-expected Q1 adjusted EPS and raising its 2027 adjusted EPS forecast.
However, Intuit closed down more than -3% after the company gave a full-year forecast for both adjusted earnings and revenue that was weaker than expected.
US MBA mortgage applications fell -1.0% in the week ended August 21, with the purchase mortgage sub-index down -0.3% and the refinancing mortgage sub-index down -2.0%. The average 30-year fixed-rate mortgage rose 1 bp to 6.78% from 6.77% in the prior week.
US July personal spending rose +0.2% m/m, stronger than expectations of +0.1% m/m. Also, July personal income rose +0.4% m/m, stronger than expectations of +0.2% m/m
The US July core PCE price index, the Fed's preferred inflation gauge, rose +0.2% m/m and +3.3% y/y, right on expectations.
US July capital goods new orders nondefense ex-aircraft and parts, a proxy for capital spending, rose +0.2% m/m, weaker than expectations of +0.7% m/m, although June was revised upward to +1.7% m/m from the previously reported +1.2% m/m.
US Q2 GDP was left unrevised at 1.5% (q/q annualized), but Q2 personal consumption was revised upward to 3.4% from the previously reported 3.2%. Also, the Q2 core PCE price index was revised upward to 3.6% q/q from the previously reported 3.4% q/q.
The markets are eagerly awaiting earnings results from Nvidia after Wednesday’s close. Nvidia's results, considered the best barometer of AI spending, will help determine whether hyperscalers are still accelerating AI spending or becoming more disciplined. According to data compiled by Bloomberg, analysts project that Nvidia’s Q2 revenue will nearly double from a year ago, the fastest pace in two years. Markets will also focus on what CEO Huang has to say about capital spending by its biggest customers, future demand, and a raft of new financing deals involving Nvidia.
Oct WTI crude oil prices (CLV26) fell to a 1.5-week low on Wednesday after the Oman News Agency reported that Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an initiative to establish a "temporary joint maritime corridor" aimed at resuming transit through the Strait of Hormuz. Crude prices have fallen more than -8% this week on signs of easing tensions in the Middle East and a partial resumption of crude supplies through the Strait of Hormuz. On Tuesday, The New York Times reported the US State Department is preparing to send US diplomats back to embassies in the Middle East that were evacuated before and during the war with Iran, suggesting that the Trump administration does not anticipate a return to all-out hostilities with Iran.
The outlook for strong Q2 earnings is a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 469 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 36% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled higher on Wednesday. The Euro Stoxx 50 closed up +0.23%. China's Shanghai Composite closed up +0.59%. Japan's Nikkei-225 Stock Average closed up +0.62%.
Interest Rates
September 10-year T-notes (ZNU6) closed down by -6.5 ticks on Wednesday. The 10-year T-note yield rose +3.1 bp to 4.660%. T-notes moved lower Wednesday on stronger-than-expected US economic news on July personal spending and income. Also, an upward revision to the Q2 core PCE price index was bearish for T-notes.
On the positive side for T-notes, the July core PCE price index, the Fed's preferred inflation gauge, advanced in line with expectations, easing inflation fears. Also, decent demand for the Treasury’s $70 billion auction of 5-year T-notes was positive for T-notes, as the auction had a bid-to-cover ratio of 2.37, above the 10-auction average of 2.34.
European government bond yields moved higher on Wednesday. The 10-year German bund yield rebounded from a 1.5-week low of 3.185% and finished up +3.3 bp to 3.234%. The 10-year UK gilt yield rebounded from a 1.5-week low of 4.978% and finished up +4.3 bp to 5.031%.
ECB Executive Board member Isabel Schnabel said, "At the current policy rate, inflation is unlikely to return to target over the medium term, and therefore further tightening will be necessary."
Markets are discounting a 97% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Semtech (SMTC) closed up more than +10% after reporting Q2 adjusted EPS of 71 cents, better than the consensus of 61 cents, and forecasting Q3 adjusted EPS pf $1.02 to $1.08, stronger than the consensus of 73 cents.
Summit Therapeutics (SMMT) closed up more than +7% after reporting results from a late-stage trial of its ivonescimab for biliary tract cancer that significantly outperformed AstraZeneca’s durvalumab plus chemotherapy.
J M Smucker (SJM) closed up more than +4% after reporting Q1 adjusted EPS of $3.24, well above the consensus of $2.22, and raising its 2027 adjusted EPS forecast to $10.50 to $11.00 from a previous forecast of $9.75 to $10.25, stronger than the consensus of $10.05.
Williams Cos (WMB) closed up more than +4% after Morgan Stanley named the company a Top Pick on the AI infrastructure buildout.
Oracle (ORCL) closed up more than +3% after Citigroup opened a positive catalyst watch on the stock with a price target of $330.
Datadog (DDOG) closed up more than +2% after The Information reported that Palo Alto Networks CEO Arora had explored acquiring the company.
Spyre Therapeutics (SYRE) closed down more than -12% after announcing that a mid-stage trial of its experimental drug for rheumatoid arthritis fell short of the company’s internal bar.
Zoom Communications (ZM) closed down more than -6% after forecasting Q3 adjusted EPS of $1.46 to $1.48, below the consensus of $1.50.
Intuit (INTU) closed down more than -3% after forecasting 2027 adjusted EPS of $22.88 to $23.12, well below the consensus of $27.27, and forecasting 2027 revenue of $23.28 billion to $23.51 billion, weaker than the consensus of $23.82 billion.
GoDaddy (GDDY) closed down more than -4% after Wells Fargo Securities downgraded the stock to underweight from equal weight with a price target of $76.
Boston Scientific (BSX) closed down more than -3% after disclosing that it identified an ongoing, globally disruptive cybersecurity incident affecting certain information technology systems.
Nike (NKE) closed down more than -2% to lead losers in the Dow Jones Industrials after Truist Securities downgraded the stock to hold from buy.
Earnings Reports (8/27/2026)
Affirm Holdings Inc (AFRM), Autodesk Inc (ADSK), Best Buy Co Inc (BBY), Burlington Stores Inc (BURL), Dollar General Corp (DG), Dollar Tree Inc (DLTR), Elastic NV (ESTC), Forgent Power Solutions Inc (FPS), Gap Inc/The (GAP), Hormel Foods Corp (HRL), IREN Ltd (IREN), Marvell Technology Inc (MRVL), Rubrik Inc (RBRK), SentinelOne Inc (S), Ulta Beauty Inc (ULTA), Workday Inc (WDAY).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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Stocks Finish Little Changed Ahead of Nvidia Earnings

The S&P 500 Index ($SPX) (SPY) is down by -0.02% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.10%. E-mini S&P futures (ESU26) are down -0.03%, and September E-mini Nasdaq futures (NQU26) are down -0.10%.
Stock indices gave up an early advance and turned slightly lower today ahead of Nvidia’s earnings results after the close. Today’s US economic news was mixed for stocks. July capital goods new orders nondefense ex-aircraft and parts, a proxy for capital spending, rose less than expected, but July personal spending and personal income rose more than expected.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
However, higher bond yields are also weighing on stocks as today’s US inflation news raised the chances of a Fed rate hike at next month’s FOMC meeting. The Q2 core PCE price index was revised upward, and the July core PCE price index, the Fed's preferred inflation gauge, advanced in line with expectations. The 10-year T-note yield is up +2 bp to 4.66%.
Today’s earnings results are mixed, with Intuit down more than -4% after the company gave a full-year forecast for both adjusted earnings and revenue that was weaker than expected. However, J M Smucker is up more than +3% after reporting stronger-than-expected Q1 adjusted EPS and raising its 2027 adjusted EPS forecast.
US MBA mortgage applications fell -1.0% in the week ended August 21, with the purchase mortgage sub-index down -0.3% and the refinancing mortgage sub-index down -2.0%. The average 30-year fixed-rate mortgage rose 1 bp to 6.78% from 6.77% in the prior week.
US July personal spending rose +0.2% m/m, stronger than expectations of +0.1% m/m. Also, July personal income rose +0.4% m/m, stronger than expectations of +0.2% m/m
The US July core PCE price index, the Fed's preferred inflation gauge, rose +0.2% m/m and +3.3% y/y, right on expectations.
US July capital goods new orders nondefense ex-aircraft and parts, a proxy for capital spending, rose +0.2% m/m, weaker than expectations of +0.7% m/m, although June was revised upward to +1.7% m/m from the previously reported +1.2% m/m.
US Q2 GDP was left unrevised at 1.5% (q/q annualized), but Q2 personal consumption was revised upward to 3.4% from the previously reported 3.2%. Also, the Q2 core PCE price index was revised upward to 3.6% q/q from the previously reported 3.4% q/q.
The markets are eagerly awaiting earnings results from Nvidia after today’s close. Nvidia's results, considered the best barometer of AI spending, will help determine whether hyperscalers are still accelerating AI spending or becoming more disciplined. According to data compiled by Bloomberg, analysts project that Nvidia’s Q2 revenue will nearly double from a year ago, the fastest pace in two years. Markets will also focus on what CEO Huang has to say about capital spending by its biggest customers, future demand, and a raft of new financing deals involving Nvidia.
Oct WTI crude oil prices (CLV26) are down nearly -1% today at a 1.5-week low after the Oman News Agency reported that Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an initiative to establish a "temporary joint maritime corridor" aimed at resuming transit through the Strait of Hormuz. Crude prices have fallen more than -8% this week on signs of easing tensions in the Middle East and a partial resumption of crude supplies through the Strait of Hormuz. On Tuesday, The New York Times reported the US State Department is preparing to send US diplomats back to embassies in the Middle East that were evacuated before and during the war with Iran, suggesting that the Trump administration does not anticipate a return to all-out hostilities with Iran.
The outlook for strong Q2 earnings is a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 469 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 39% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are higher today. The Euro Stoxx 50 is up +0.44%. China's Shanghai Composite closed up +0.59%. Japan's Nikkei-225 Stock Average closed up +0.62%.
Interest Rates
September 10-year T-notes (ZNU6) are down by -5 ticks today. The 10-year T-note yield is up +3.0 bp to 4.658%. T-notes are slipping today on stronger-than-expected US economic news on July personal spending and income. Also, an upward revision to the Q2 core PCE price index is bearish for T-notes. In addition, supply pressures are weighing on T-notes as the Treasury will auction $28 billion of 2-year floating-rate notes and $70 billion of 5-year T-notes later today.
On the positive side for T-notes, the July core PCE price index, the Fed's preferred inflation gauge, advanced in line with expectations, easing inflation fears. Also, WTI crude oil prices are down nearly -1% today to a 1.5-week low, lowering inflation expectations and supporting T-notes.
European government bond yields are moving higher today. The 10-year German bund yield rebounded from a 1.5-week low of 3.185% and is up +2.1 bp to 3.222%. The 10-year UK gilt yield rebounded from a 1.5-week low of 4.978% and is up +2.6 bp to 5.014%.
ECB Executive Board member Isabel Schnabel said, "At the current policy rate, inflation is unlikely to return to target over the medium term, and therefore further tightening will be necessary."
Markets are discounting a 97% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Spyre Therapeutics (SYRE) is down more than -12% after announcing that a mid-stage trial of its experimental drug for rheumatoid arthritis fell short of the company’s internal bar.
Zoom Communications (ZM) is down more than -6% after forecasting Q3 adjusted EPS of $1.46 to $1.48, below the consensus of $1.50.
Intuit (INTU) is down more than -4% to lead losers in the Nasdaq 100 after it forecast 2027 adjusted EPS of $22.88 to $23.12, well below the consensus of $27.27, and forecast 2027 revenue of $23.28 billion to $23.51 billion, weaker than the consensus of $23.82 billion.
Boston Scientific (BSX) is down more than -4% after disclosing that it identified an ongoing, globally disruptive cybersecurity incident affecting certain information technology systems.
GoDaddy (GDDY) is down more than -4% after Wells Fargo Securities downgraded the stock to underweight from equal weight with a price target of $76.
Asset managers are on the defensive today after Vanguard Group agreed to buy Altruist as it seeks to expand in wealth management. Charles Schwab (SCHW) is down more than -3%, and Morgan Stanley (MS) and LPL Financial Holdings (LPLA) are down more than -1%.
Semtech (SMTC) is up more than +7% after reporting Q2 adjusted EPS of 71 cents, better than the consensus of 61 cents, and forecasting Q3 adjusted EPS pf $1.02 to $1.08, stronger than the consensus of 73 cents.
Summit Therapeutics (SMMT) is up more than +6% after reporting results from a late-stage trial of its ivonescimab for biliary tract cancer that significantly outperformed AstraZeneca’s durvalumab plus chemotherapy.
Photronics (PLAB) is up more than +5% after reporting Q3 adjusted EPS of 50 cents, stronger than the consensus of 40 cents.
Williams Cos (WMB) is up more than +4% to lead gainers in the S&P 500 after Morgan Stanley named the company a Top Pick on the AI infrastructure buildout.
J M Smucker (SJM) is up more than +3% after reporting Q1 adjusted EPS of $3.24, well above the consensus of $2.22, and raising its 2027 adjusted EPS forecast to $10.50 to $11.00 from a previous forecast of $9.75 to $10.25, stronger than the consensus of $10.05.
Datadog (DDOG) is up more than +3% after The Information reported that Palo Alto Networks CEO Arora had explored acquiring the company.
Oracle (ORCL) is up more than +2% after Citigroup opened a positive catalyst watch on the stock with a price target of $330.
Earnings Reports (8/26/2026)
Agilent Technologies Inc (A), Bath & Body Works Inc (BBWI), CrowdStrike Holdings Inc (CRWD), Donaldson Co Inc (DCI), Dycom Industries Inc (DY), Everpure Inc (P), HP Inc (HPQ), J M Smucker Co/The (SJM), Nutanix Inc (NTNX), NVIDIA Corp (NVDA), Okta Inc (OKTA), Salesforce Inc (CRM), Synopsys Inc (SNPS), Veeva Systems Inc (VEEV), Williams-Sonoma Inc (WSM).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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Stocks Slip Ahead of Nvidia Earnings as Bond Yields Rise

The S&P 500 Index ($SPX) (SPY) is up by +0.04% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.02%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +0.01%. E-mini S&P futures (ESU26) are up +0.03%, and September E-mini Nasdaq futures (NQU26) are up +0.01%.
Stock indices are slightly higher today on some mixed US economic news. July capital goods new orders nondefense ex-aircraft and parts, a proxy for capital spending, rose less than expected, but July personal spending and personal income rose more than expected. Inflation concerns also receded after the July core PCE price index, the Fed's preferred inflation gauge, advanced in line with expectations.
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Earnings results are mixed today, with Intuit down more than -2% after the company gave a full-year forecast for both adjusted earnings and revenue that was weaker than expected. However, J M Smucker is up more than +5% after reporting stronger-than-expected Q1 adjusted EPS and raising its 2027 adjusted EPS forecast.
US MBA mortgage applications fell -1.0% in the week ended August 21, with the purchase mortgage sub-index down -0.3% and the refinancing mortgage sub-index down -2.0%. The average 30-year fixed-rate mortgage rose 1 bp to 6.78% from 6.77% in the prior week.
US July personal spending rose +0.2% m/m, stronger than expectations of +0.1% m/m. Also, July personal income rose +0.4% m/m, stronger than expectations of +0.2% m/m
The US July core PCE price index, the Fed's preferred inflation gauge, rose +0.2% m/m and +3.3% y/y, right on expectations.
US July capital goods new orders nondefense ex-aircraft and parts, a proxy for capital spending, rose +0.2% m/m, weaker than expectations of +0.7% m/m, although June was revised upward to +1.7% m/m from the previously reported +1.2% m/m.
US Q2 GDP was left unrevised at 1.5% (q/q annualized), but Q2 personal consumption was revised upward to 3.4% from the previously reported 3.2%. Also, the Q2 core PCE price index was revised upward to 3.6% q/q from the previously reported 3.4% q/q.
The markets are eagerly awaiting earnings results from Nvidia after today’s close. Nvidia's results, considered the best barometer of AI spending, will help determine whether hyperscalers are still accelerating AI spending or becoming more disciplined. According to data compiled by Bloomberg, analysts project that Nvidia’s Q2 revenue will nearly double from a year ago, the fastest pace in two years. Markets will also focus on what CEO Huang has to say about capital spending by its biggest customers, future demand, and a raft of new financing deals involving Nvidia.
Oct WTI crude oil prices (CLV26) are down by more than -1% today at a 1.5-week low after the Oman News Agency reported that Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an initiative to establish a "temporary joint maritime corridor" aimed at resuming transit through the Strait of Hormuz. Crude prices have fallen more than -8% this week on signs of easing tensions in the Middle East and a partial resumption of crude supplies through the Strait of Hormuz. On Tuesday, The New York Times reported the US State Department is preparing to send US diplomats back to embassies in the Middle East that were evacuated before and during the war with Iran, suggesting that the Trump administration does not anticipate a return to all-out hostilities with Iran.
The outlook for strong Q2 earnings is a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 469 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 40% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are higher today. The Euro Stoxx 50 is up +0.44%. China's Shanghai Composite closed up +0.59%. Japan's Nikkei-225 Stock Average closed up +0.62%.
Interest Rates
September 10-year T-notes (ZNU6) are down by -4 ticks today. The 10-year T-note yield is up +2.8 bp to 4.656%. T-notes are slipping today on stronger-than-expected US economic news on July personal spending and income. Also, an upward revision to the Q2 core PCE price index is bearish for T-notes. In addition, supply pressures are weighing on T-notes as the Treasury will auction $28 billion of 2-year floating-rate notes and $70 billion of 5-year T-notes later today.
On the positive side for T-notes, the July core PCE price index, the Fed's preferred inflation gauge, advanced in line with expectations, easing inflation fears. Also, WTI crude oil prices are down more than -1% today to a 1.5-week low, lowering inflation expectations and supporting T-notes.
European government bond yields are moving higher today. The 10-year German bund yield rebounded from a 1.5-week low of 3.185% and is up +1.1 bp to 3.212%. The 10-year UK gilt yield rebounded from a 1.5-week low of 4.978% and is up +0.8 bp to 4.996%.
ECB Executive Board member Isabel Schnabel said, "At the current policy rate, inflation is unlikely to return to target over the medium term, and therefore further tightening will be necessary."
Markets are discounting a 97% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Summit Therapeutics (SMMT) is up more than +8% after reporting results from a late-stage trial of its ivonescimab for biliary tract cancer that significantly outperformed AstraZeneca’s durvalumab plus chemotherapy.
Semtech (SMTC) is up more than +8% after reporting Q2 adjusted EPS of 71 cents, better than the consensus of 61 cents, and forecasting Q3 adjusted EPS pf $1.02 to $1.08, stronger than the consensus of 73 cents.
J M Smucker (SJM) is up more than +5% to lead gainers in the S&P 500 after reporting Q1 adjusted EPS of $3.24, well above the consensus of $2.22, and raising its 2027 adjusted EPS forecast to $10.50 to $11.00 from a previous forecast of $9.75 to $10.25, stronger than the consensus of $10.05.
Datadog (DDOG) is up more than +4% to lead gainers in the Nasdaq 100 after The Information reported that Palo Alto Networks CEO Arora had explored acquiring the company.
Photronics (PLAB) is up more than +4% after reporting Q3 adjusted EPS of 50 cents, stronger than the consensus of 40 cents.
Oracle (ORCL) is up more than +3% after Citigroup opened a positive catalyst watch on the stock with a price target of $330.
Spyre Therapeutics (SYRE) is down more than -13% after announcing that a mid-stage trial of its experimental drug for rheumatoid arthritis fell short of the company’s internal bar.
Kohl’s (KSS) is down more than -7% after reporting Q2 net sales of $3.32 billion, weaker than the consensus of $3.34 billion.
Zoom Communications (ZM) is down more than -6% after forecasting Q3 adjusted EPS of $1.46 to $1.48, below the consensus of $1.50.
Intuit (INTU) is down more than -4% to lead losers in the Nasdaq 100 after it forecast 2027 adjusted EPS of $22.88 to $23.12, well below the consensus of $27.27, and forecast 2027 revenue of $23.28 billion to $23.51 billion, weaker than the consensus of $23.82 billion.
GoDaddy (GDDY) is down more than -4% after Wells Fargo Securities downgraded the stock to underweight from equal weight with a price target of $76.
Boston Scientific (BSX) is down more than -4% after disclosing that it identified an ongoing, globally disruptive cybersecurity incident affecting certain information technology systems.
nCino (NCNO) is down more than -2% after forecasting Q3 subscription revenue of $143.3 million to $145.3 million, the midpoint below the consensus of $144.6 million.
Earnings Reports (8/26/2026)
Agilent Technologies Inc (A), Bath & Body Works Inc (BBWI), CrowdStrike Holdings Inc (CRWD), Donaldson Co Inc (DCI), Dycom Industries Inc (DY), Everpure Inc (P), HP Inc (HPQ), J M Smucker Co/The (SJM), Nutanix Inc (NTNX), NVIDIA Corp (NVDA), Okta Inc (OKTA), Salesforce Inc (CRM), Synopsys Inc (SNPS), Veeva Systems Inc (VEEV), Williams-Sonoma Inc (WSM).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Slightly Higher on Mixed US Economic News

For Immediate Release
Chicago, IL – August 26, 2026 – Today, Zacks Investment Ideas features like SpaceX SPCX, Zoom Video ZM, Salesforce CRM, Amazon AMZN, Alphabet GOOGL, and SK Telecom SKM.
Anthropic IPO: What It Means for Wall Street
Anthropic IPO Looms
Founded in 2021 by former OpenAI employees Daniela and Dario Amodei, Anthropic has already become a household name. Although it is private, Anthropic is arguably the most important company on the planet currently. Beyond its scorching-hot growth, Anthropic is a critical gauge for the general market. AI-spending currently accounts for the lion’s share of GDP growth in the United States, and Anthropic is one of the biggest spenders.
When Will Anthropic IPO?
Outside of the historic SpaceX initial public offering, Anthropic will be the most anticipated IPO of 2026 and the biggest AI pure play ever to go public. On June 1st, Anthropic filed its Form S-1 with the Securities and Exchange Commission (SEC). An S-1 is the initial registration document a prospective IPO must file with the SEC, and it includes the prospectus, risk factors, an explanation of business operations, financial statements, and a description of how the company will use its IPO proceeds.
While there is no exact IPO date, the earliest Anthropic could go public is October. According to the Polymarket betting market, there’s currently an 83% chance Anthropic goes public by the end of October and a 93% chance it goes public by the end of 2026.
How are OpenAI and Anthropic Different?
ChatGPT OpenAI and Anthropic are currently the two leading artificial intelligence labs. However, they differ dramatically in terms of product focus. OpenAI generates most of its revenue through the mass-market consumer with ChatGPT. Conversely, Anthropic specializes in the enterprise market and advanced software coding through its Claude models.
Anthropic: The Fastest Growing Company in History
Although OpenAI has been around longer, Anthropic has a private valuation of ~$965 billion, while OpenAI has a valuation of ~$852 billion. Anthropic’s high-paying and sticky enterprise customer base has supercharged its growth. In fact, with an annualized revenue run rate (ARR) of approximately $65 billion, Anthropic has become the fastest-growing technology company in history.
Which Public Companies Will Benefit from the Anthropic IPO?
Several publicly traded companies hold significant Anthropic stakes, including Zoom Video, Salesforce, Amazon, Alphabet, and SK Telecom. Amazon leads the pack with an Anthropic stake valued at ~$43 billion. However, Amazon’s Anthropic stake is only about 2% of its market cap. Meanwhile, SK Telecom stands to benefit most from a successful Anthropic IPO, as its $2.7 billion Anthropic stake is ~20% of its market cap.
Bottom Line
As Anthropic prepares to make its public market debut, its launch represents far more than just liquidity for early investors; it serves as a crucial barometer for the AI industry. By dominating the high-margin enterprise sector, Anthropic has become the leading AI lab.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners Up
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Zacks Investment Ideas feature highlights: SpaceX, Zoom, Salesforce, Amazon, Alphabet and SK Telecom

For the quarter ended July 2026, Zoom Communications (ZM) reported revenue of $1.28 billion, up 4.9% over the same period last year. EPS came in at $1.55, compared to $1.53 in the year-ago quarter.
The reported revenue represents a surprise of +0.68% over the Zacks Consensus Estimate of $1.27 billion. With the consensus EPS estimate being $1.50, the EPS surprise was +3.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Zoom performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Customers >$100K TTM Revenue: 4,625 compared to the 4,572 average estimate based on two analysts.
Current Remaining Performance Obligation (RPO): $2.58 billion versus the two-analyst average estimate of $2.54 billion.
Revenue- Online: $489.7 million versus the three-analyst average estimate of $492.94 million. The reported number represents a year-over-year change of +0.6%.
Revenue- Enterprise: $787.5 million versus the three-analyst average estimate of $774.78 million. The reported number represents a year-over-year change of +7.8%.
Shares of Zoom have returned +14.9% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>
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Indicator	Jan 26	Apr 26	Jul 26	TTM
Net Income	RUB 674.00M	RUB 426.00M	RUB 1.54B	RUB 1.54B
Operating Income	RUB 250.00M	RUB 310.00M	RUB 314.00M	RUB 314.00M

Indicator	Jan 26	Apr 26	Jul 26	TTM
Total Assets	RUB 11.96B	RUB 12.16B	RUB 13.59B	RUB 13.59B
Cash on Hand	RUB 7.82B	RUB 7.72B	RUB 7.25B	RUB 7.25B
Total share holder equity	RUB 9.81B	RUB 9.97B	RUB 11.30B	RUB 11.30B

Indicator	Jan 26	Apr 26	Jul 26	TTM
Long Term Debt	—	—	—	RUB 0.00
Total liabilities	RUB 2.15B	RUB 2.19B	RUB 2.28B	RUB 2.28B

Zoom Communications, Inc.

Recent quarterly and TTM performance

Growth

Assets

Debts