$NOK insider buying is going vertical. In the last 30 days: > Konstanty Owczarek bought $500K at $15.35 on May 22 > Konstanty Owczarek bought $598K AGAIN at $15.99 on May 26 > CEO Justin Hotard bought €772K at €9.15 on April 28 > Board member Timo Ihamuotila bought €454K the same day > Four senior managers bought May 15 Seven insiders. $2.5M+ of personal capital. Stock already doubled YTD and they kept buying higher. Nobody is waiting for a pullback. $NOK $NVDA $CIEN

The Pistons join DAZN as the 11th NBA team on the platform. Streaming exclusively through a new Pistons-branded app ($19.99/mo) alongside OTA broadcasts on WMYD TV20. The platform now has over a third of the NBA. MORE:

CRACKER BARREL $CBRL Q4’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $849.3M (Est. $837M) 🟢; -2.2% YoY 🔹 Adj. EPS: $0.99 (Est. $0.15) 🟢; +34% YoY 🔹 GAAP EPS: $0.54; +80% YoY 🔹 Adj. EBITDA: $62.1M (Est. $42M) 🟢; +11% YoY FY27 Guide: 🔹 Revenue: $3.33B-$3.4B (Est. $3.39B) 🟡 🔹 Adjusted EBITDA: $180M-$200M (Est. $180M) 🟡 🔹 CapEx: $110M-$125M (Est. $127M) 🔴 🔹 Comparable Restaurant Sales: +3%-+5% 🔹 Commodity Inflation: ~3% 🔹 Hourly Wage Inflation: 2.5%-3% Other Q4 Metrics: 🔹 Comparable Restaurant Sales: -2.1% YoY 🔹 Comparable Retail Sales: +0.7% YoY 🔹 GAAP Operating Income: $13.1M; +230% YoY Comments: 🔸 “continued improvements in the underlying traffic trend, key guest metrics, and EBITDA results”

NASDAQ UNOFFICIALLY CLOSES UP 263.06 POINTS, OR 1.01 PERCENT, AT 26,344.78 DOW JONES UNOFFICIALLY CLOSES UP 514.27 POINTS, OR 0.99%, AT 52,578.37 S&P 500 UNOFFICIALLY CLOSES UP 65.79 POINTS, OR 0.87 PERCENT, AT 7,657.49

GUIDEWIRE $GWRE Q4’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $411.1M (Est. $402M) 🟢; +15% YoY 🔹 Adj. EPS: $0.99 (Est. $0.94) 🟢; +22% YoY 🔹 Non-GAAP Oper Income: $111.3M (Est. $91.6M) 🟢; +51% YoY 🔹 FCF: $276.7M (Est. $266M) 🟢 FY27 Guide: 🔹 Ending ARR: $1.45B-$1.46B (Est. $1.45B) 🟡 🔹 Total Revenue: $1.71B-$1.73B (Est. $1.7B) 🟢 🔹 Non-GAAP Oper Income: $403M-$423M (Est. $408M) 🟢 🔹 Subscription & Support Revenue: $1.24B-$1.25B 🔹 GAAP Operating Income: $197M-$217M 🔹 Operating Cash Flow: $445M-$465M Q1 Guide: 🔹 Total Revenue: $372M-$378M (Est. $387M) 🔴 🔹 Non-GAAP Oper Income: $64M-$70M (Est. $80M) 🟢 🔹 Ending ARR: $1.25B-$1.26B 🔹 Subscription & Support Revenue: $279M-$283M 🔹 GAAP Operating Income: $19M-$25M Segment Net Revenue: 🔹 Subscription & Support: $266.7M; +32% YoY 🔹 License: $77.1M; -18% YoY 🔹 Services: $67.3M; +10% YoY Other Q4 Metrics: 🔹 ARR: $1.24B 🔹 Cash From Operations: $283.9M Comments: 🔸 “AI is driving our momentum, as more of our insurance customers choose to align their AI transformation with Guidewire.” 🔸 “the lowest ARR gross attrition rate since we started measuring ARR”

$PVH Q2’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $2.1B (Est. $2.09B) 🟡; -3% YoY 🔹 Adj. EPS: $3.70 (Est. $3.08) 🟢; +47% YoY; includes $107M tariff refunds 🔹 Gross Margin: 63.0%; +530 bps YoY 🔹 Non-GAAP EBIT: $232.6M (Est. $199M) 🟢 FY26 Guide: 🔹 Adj. EPS: $11.80-$12.10 (Est. $12.02) 🟡 🔹 Revenue: Flat; decrease slightly cc 🔹 Operating Margin: 8.8% non-GAAP 🔹 Effective Tax Rate: 22% to 23% non-GAAP 🔹 Net Interest Expense: ~$70M; from ~$75M Q3 Guide: 🔹 Adj. EPS: $2.50-$2.65 (Est. $2.99) 🔴 🔹 Revenue: Low-single-digit decline 🔹 Operating Margin: ~7.5% non-GAAP 🔹 Effective Tax Rate: ~22.0% non-GAAP Segment Net Revenue: 🔹 EMEA: $986.3M; -6% YoY 🔹 Americas: $680.1M; -1% YoY 🔹 APAC: $343.7M; +3% YoY 🔹 Licensing: $86.9M; -13% YoY 🔹 Calvin Klein: $913.3M (Est. $953M) 🔴; -7% YoY Other Q2 Metrics: 🔹 Inventory: $1.7B; -3% YoY 🔹 Owned & Operated Digital Commerce Revenue: $194.1M; +4% YoY 🔹 Non-GAAP Operating Margin: 11.1%; +290 bps YoY; includes $107M tariff refund benefit Key Updates: 🔹 Tariff Refunds: $107M; included an approximately 510 bps benefit to operating margin 🔹 Goodwill Impairment: $439M pre-tax noncash charge; GAAP EPS: -$2.23 🔹 New CFO: Alexis Rollier joins from Sephora Comments: 🔸 “profitability exceeding expectations” 🔸 “we are reaffirming our top and bottom line outlook for the full year.”

$SNPS Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $2.48B (Est. $2.44B) 🟢 🔹 EPS: $3.91 (Est. $3.67) 🟢 Q4 Guide: 🔹 Revenue: $2.53B-$2.58B (Est. $2.552B) 🟡 🔹 EPS: $4.10-$4.16 (Est. $3.99) 🟢 FY26 Guide: 🔹 Revenue: $9.69B-$9.74B (Est. $9.677B) 🟢 🔹 EPS: $15.04-$15.10 (Est. $14.77) 🟢

Physical AI companies are about to learn an old infrastructure lesson: A customer contract can be or unlock a form of capital. Gatik just announced a $200 million raise, but the more important numbers are the ones sitting behind the round: more than $600 million in contracted revenue, 85,000 fully driverless orders completed and 99% on-time delivery, all reported by the company. The contract details are not public and neither are recognized revenue, margins or capital required per deployed lane, all of which matter. However, investors across both equity and debt can look at backlog in two buckets (i) high-quality demand or (i) a potentially expensive promise. Nonetheless, I think this is still a useful signal/lesson for Physical AI founders. First, contracts can de-risk demand before a company scales the fleet. A signed route or workflow is more financeable than a general claim that a machine has a large market. Second, operating proof can separate technology capital from asset capital. Equity will fund building out autonomy, safety and the next product. Once the deployed unit is predictable, equipment finance or other lower-cost capital can fund more trucks or robots. Third, contracts force repeatability. A customer buying reliable throughput cares about on-time delivery, interventions, uptime and cost per order. After things are live in the field, your ability to perform is whats up for the test. Lower cost debt capital is a fundamental need for the current Physical AI valuations to fundamentally work longer-term if you are handling hardware. Therefore, being extremely intentional during contracting is critical. The top 5 things that would be on my mind as a Founder are: 1. Duration of contract 2. Cancellation rights 3. Minimum volume 4. Your own deployment capex and payment terms with suppliers 5. Your expected gross profit and what levers you need to believe in for it to be X vs. Y If you can pull forward customer payments to finance the business that's even better. But if you can't, making sure your contracts and ability to back it up are airtight is key.

Just six months ago: $DELL surged from $144.96 to $534.28 (+269%) $SNDK surged from $538.25 to $1,551.99 (+188%) $MRVL surged from $77.51 to $218.82 (+182%) $CRWD surged from $92.24 to $235.38 (+155%) $MU surged from $319.78 to $924.03 (+189%) $NVDA surged from $166.84 to $210.96 (+26%) $AAPL surged from $249.40 to $333.08 (+33%) $INTC surged from $41.82 to $97.19 (+132%) $BE surged from $121.72 to $257.05 (+111%) Our next alert is coming soon! If you haven't followed us with notifications turned on, you might miss our next alert.