Paychex Posts US$1,630.5 Million Revenue, Launches AI WISE Hire Tool
Paychex reported first-quarter fiscal 2027 results with revenue of US$1,630.5 million and net income of US$429.7 million, updated full-year guidance to 5%–6% total revenue growth, completed a 3,500,000-share buyback for US$322 million, and launched its AI-native WISE Hire recruiting solution. The AI-native WISE Hire tool is being embedded across Paychex's HCM platforms, including SurePayroll, Paychex Flex and Paycor, as the company pushes toward higher-value, technology-enabled services. The company's narrative projects US$7.7 billion revenue and US$2.4 billion earnings by 2029, requiring 5.2% yearly revenue growth and about a US$0.6 billion earnings increase from US$1.8 billion today. Some of the lowest analyst estimates already assumed only about 5.3 percent annual revenue growth and earnings near US$2.3 billion by 2029, leaving the more cautious view on margins and growth potentially more reasonable if the AI rollout does not translate into clear productivity gains. The completed buyback is seen as helpful but not a major catalyst by itself.
PAYX · Capital · Positive Paychex reported Q1 FY2027 revenue of US$1,630.5M, net income of US$429.7M, updated guidance to 5%-6% growth, and completed a US$322M buyback.
PAYX · Technology · Positive Paychex launched its AI-native WISE Hire recruiting solution embedded across its HCM platforms including SurePayroll, Paychex Flex and Paycor.
Concentrix Trades at Forward P/E of 2.68 After $1.05 Billion Goodwill Impairment
Concentrix Corporation is trading at a forward P/E of 2.68 as of October 2, a valuation that reflects deep skepticism about the customer experience company's earnings durability. The company reported a $988.1 million GAAP net loss for the quarter, driven primarily by a $1.05 billion non-cash goodwill impairment tied to where its stock traded, while adjusted EPS came in at $2.92 and adjusted operating margin expanded 30 basis points to 12.6%. Third-quarter revenue of $2.45 billion fell 0.5% in constant currency, slightly below the low end of guidance, and management guided fourth-quarter constant currency revenue down 3% to 5% as two hyperscale clients end support for certain customer groups sooner than planned and AI automation shrinks billable work. Management said half of quarterly revenue now comes from business won and deployed over the past three years, ahead of its own expectations, with that newer work expected to grow about 30% this year at better margins and four times better client retention than the traditional book. Net debt sits near $4.119 billion, with $375 million of term loans due in December that management plans to repay from cash flow and existing liquidity while also funding the CastleHill acquisition, and no shares were repurchased in the quarter. Hedge fund ownership fell to 21 funds from 25 a quarter earlier, short interest stands at 16.55% of the float, and the company has issued no fiscal 2027 guidance.
CNXC · Capital · Negative Reported a $988.1M GAAP net loss driven by a $1.05B non-cash goodwill impairment, with Q4 revenue guided down 3-5%.
CNXC · Demand · Negative Two hyperscale clients ending support for certain customer groups sooner than planned and AI automation shrinking billable work weigh on revenue.
ADP Reports Pays-Per-Control Growth Slowdown to About 1% for Fiscal 2026
Automatic Data Processing reported a sharp slowdown in pays-per-control growth to about 1% for fiscal 2026 and guided to 0-1% for fiscal 2027, signaling a cooler U.S. labor market alongside expectations for slightly weaker client retention. At the same time, ADP's Employer Services revenue grew 7% in the latest fiscal quarter, with new business bookings up 6% and client float income poised to benefit from rising wages. Management emphasized that AI is reshaping how work is done rather than eliminating jobs. ADP's narrative projects $25.9 billion revenue and $5.6 billion earnings by 2029, requiring 5.7% yearly revenue growth and an earnings increase of about $1.2 billion from $4.4 billion today, and forecasts a $287.60 fair value, a 12% upside to its current price. Some analysts were more optimistic before this slowdown, assuming ADP could lift revenue to about US$26.4 billion and earnings to roughly US$5.8 billion.
ADP · Capital · Negative ADP reported a sharp slowdown in pays-per-control growth to about 1% for fiscal 2026 and guided to 0-1% for fiscal 2027, signaling weaker client retention and softer labor-market trends.
Truepic Authentication Tools Integrated Into Verisk's ClaimSearch Platform
Truepic announced in September 2026 that its image and video authentication tools are now integrated into Verisk's ClaimSearch platform, allowing claims professionals to trigger authenticated visual evidence requests directly after a fraud alert and automate parts of the investigation workflow. The integration brings tamper-resistant, fraud-checked images and video into insurers' existing systems, potentially making Verisk's claims and fraud solutions more useful in day-to-day claims handling. The tie-up slots into Verisk's broader AI automation narrative alongside its ongoing rollout of tools such as XactAI and Premium Audit AI, which the company hopes will support subscription pricing power and offset pressure from softer transaction-based revenue tied to catastrophe activity. Verisk's narrative projects $3.8 billion in revenue and $1.3 billion in earnings by 2029, requiring 6.6% yearly revenue growth and a roughly $0.4 billion earnings increase from $885.5 million today, with a $234.76 fair value implying 43% upside. The key risk remains that insurers cutting data and analytics budgets could slow adoption of Verisk's expanding AI tools.
VRSK · Technology · Positive Truepic's authentication tools are integrated into Verisk's ClaimSearch platform, enhancing its claims and fraud solutions.
Truepic · Demand · Positive Truepic's image and video authentication tools are now integrated into Verisk's ClaimSearch platform, expanding adoption of its product.
Amentum-Led OneAxIoM Named Preferred Supplier on $2.8 Billion Sellafield Deal
Sellafield Ltd. has selected an Amentum-led joint venture, OneAxIoM, as preferred supplier for its Projects and Asset Care Execution framework, a US$2.78 billion (£2.1 billion) program covering full lifecycle services for spent fuel management and related facilities. The framework carries an initial nine-year term with an optional six-year extension. Once contract terms are finalized, the preferred supplier status would deepen Amentum's presence in complex nuclear asset care, potentially broadening its long-cycle revenue base and reinforcing its capabilities in high-specification engineering and project delivery. The selection follows Amentum's up to US$406 million GBE N owner's engineer role for the UK small modular reactor program, underlining how much of the company's story now rests on long-duration nuclear and infrastructure work. Amentum's narrative projects $15.1 billion in revenue and $532.2 million in earnings by 2029, requiring 2.2% yearly revenue growth and about a $328 million earnings increase from $204.0 million today.
TransUnion confirmed that long-time Chief Financial Officer Todd Cello will step down at the end of 2026 and appointed Malte Bernholz as Executive Vice President, Chief Strategy and Corporate Development Officer, while reaffirming its third-quarter and full-year 2026 revenue guidance. The creation of the new enterprise strategy and corporate development role, filled by a leader with extensive software and M&A experience, signals a stronger emphasis on coordinated long-term growth initiatives even as the finance leadership transitions. The company's narrative projects $6.1 billion in revenue and $880.4 million in earnings by 2029, requiring 7.8% yearly revenue growth and about a $142 million earnings increase from $738.2 million today. Some of the most optimistic analysts assume revenue could reach about US$6.9 billion and earnings around US$913.6 million by 2029, leaning heavily on AI and OneTru execution. Management's decision to reaffirm guidance alongside the CFO departure suggests no immediate disruption to capital allocation or operating priorities, though integration setbacks or platform delays remain a risk.
ICF International Posts Flat Q2 Revenue of $474.5 Million, Guides Above Consensus
ICF International reported second quarter revenues of $474.5 million, flat year over year and 0.7% below analysts' expectations, while narrowly beating full-year EPS guidance estimates. Chief executive John Wasson said commercial client revenues rose 5.9% year on year, federal government revenues improved sequentially on technology modernization, and international government revenues climbed 35%, putting total revenue in line with prior-year levels ahead of a return to year-on-year growth beginning in this year's third quarter. Among the seven government and technical consulting stocks tracked in the group, SAIC posted the strongest quarter with revenues of $1.88 billion, up 6.3% year on year and 7.1% above expectations, while Amentum was the weakest, with revenues of $3.49 billion, down 2% year on year and 2.2% short of estimates. Maximus reported revenues of $1.28 billion, down 5.1% year on year and 3.7% below expectations, and UL Solutions reported revenues of $816 million, up 5.2% year on year and in line with estimates. As a group, the seven stocks' revenues were in line with consensus, and their share prices have fallen an average of 8.8% since the latest earnings results.
ManpowerGroup Posts Q2 2026 Beat as Cash Falls to $180.6 Million
ManpowerGroup reported second-quarter 2026 adjusted earnings of 99 cents per share, beating the Zacks Consensus Estimate by 3.1% and rising 26.9% from the year-ago quarter, on revenues of $4.86 billion that topped the consensus mark by 3.8% and rose 7.5% year over year, or 5.8% in constant currency. Regional growth was broad-based: Americas revenues rose 14.4% year over year to $1.21 billion, led by a 29% increase in Other Americas to $498 million, while U.S. revenues grew 6% to $714.3 million; Southern Europe revenues rose 7.4% to $2.31 billion, Northern Europe revenues increased 3.9% to $825.5 million, and Asia-Pacific Middle East revenues declined 1.2% on a reported basis to $518.7 million but rose 5% in constant currency. Gross profit rose 2.2% year over year to $780.3 million, though gross margin fell 80 basis points to 16.1% on business mix changes and the sale of the higher-margin Jefferson Wells U.S. business, while selling and administrative expenses fell 15.3% to $668.3 million from $789.0 million, lifting operating profit to $112 million from a $25.3 million loss a year earlier. Management is targeting $200 million in permanent cost savings by 2028 through its transformation program and AI-led productivity initiatives, and maintained its semi-annual dividend at 72 cents per share, with first-half dividend payments of $33.5 million versus $33.3 million a year earlier. The company's cash balance fell to $180.6 million at the end of the second quarter of 2026 from $871 million at the end of 2025, reflecting $585.8 million in long-term debt repayments, with operating activities using $129 million in the first half even as second-quarter free cash flow narrowed to a $9-million outflow from $207 million a year earlier.
MAN · Capital · Positive Q2 2026 adjusted EPS of 99 cents beat consensus by 3.1% and revenue topped estimates, with operating profit swinging to $112 million from a year-ago loss
Jefferson Wells · Capital · Negative Sale of the higher-margin Jefferson Wells U.S. business contributed to an 80 basis point gross margin decline
Innodata Opens New Jersey Motion-Capture Lab for Physical AI
Innodata Inc. has opened a motion-capture research and development laboratory in New Jersey aimed at training humanoids, industrial robots and other physical AI systems. Developed with Vicon, the facility uses high-precision infrared optical tracking cameras capable of measuring movement at sub-millimeter accuracy, capturing 3D movement directly rather than inferring it from 2D video. Customers can purchase off-the-shelf motion-capture datasets, commission customized projects or send robots to the lab for independent performance testing, and Innodata can also provide external validation of robots' internal telemetry. The move builds on Innodata's earlier robotics initiatives, including successful egocentric data-collection pilots with leading robotics companies during the second quarter, when revenues rose 58% year over year to $92.1 million and adjusted EBITDA increased 92% to $25.4 million. Innodata also reiterated its expectation for at least 40% revenue growth in 2026, though the company said the pace at which pilot projects convert into large commercial programs will be critical.
INOD · Demand · Positive Customers can buy off-the-shelf motion-capture datasets, commission custom projects, or send robots for testing, building on Q2 egocentric data-collection pilots with robotics companies
INOD · Technology · Positive Innodata opened a motion-capture R&D lab with Vicon to train humanoids and physical AI systems, expanding its robotics data offering
Equifax Faces Mortgage Score Pressure as Fannie and Freddie Add VantageScore
Equifax is facing fresh competitive pressure as Fannie Mae and Freddie Mac move to include VantageScore in mortgage underwriting in 2026, with the Federal Housing Finance Agency directing the two government-sponsored enterprises to use a single pricing grid that applies to both VantageScore and FICO models. Major originators such as Rocket Mortgage are preparing to adopt the dual-score framework, reshaping demand for traditional mortgage credit reports. The shift could alter Equifax's mortgage fee mix and volumes, particularly if the FHFA leans into bi-merge or single-bureau files, which would pressure the volume of full three-bureau reports Equifax sells into that channel and tighten pricing. Equifax, a roughly $16.1b professional services group, would then need higher-margin areas such as The Work Number, government verification contracts and AI-driven productivity gains to carry more of the earnings load. The key markers ahead are how quickly lenders such as Rocket Mortgage shift actual pull volumes toward VantageScore and whether the FHFA finalises bi-merge or single-bureau rules that reduce report count per loan, with concrete disclosures from Equifax on mortgage segment volumes and pricing as the 2026 transition date approaches showing how much revenue mix is at stake.
EFX · Competition · Negative Fannie/Freddie adding VantageScore and FHFA single pricing grid pressures Equifax's mortgage credit report volumes and pricing.
FICO · Competition · Neutral VantageScore inclusion alongside FICO in mortgage underwriting could erode FICO's dominance, though FICO remains a required model in the dual-score framework.
0IKZ.LSE · Regulation · Neutral FHFA directs Freddie Mac to use a single pricing grid applying to both VantageScore and FICO models.
0IL0.LSE · Regulation · Neutral FHFA directs Fannie Mae to use a single pricing grid applying to both VantageScore and FICO models.
RKT · Competition · Neutral Rocket Mortgage is preparing to adopt the dual-score framework, but the article does not state a clear positive or negative impact on Rocket.
UL Solutions Completes Acquisition of Eurofins' Electrical & Electronics Business
UL Solutions Inc. has completed its acquisition of the electrical and electronics business of Eurofins Scientific SE. The acquired business provides testing, compliance and certification services supporting global market access for electromagnetic compatibility and wireless testing, electrical safety, medical devices and other technologies. The deal adds laboratories and accreditations in EMEA, Asia and the United States to UL Solutions' global network. President and CEO Jennifer Scanlon said the acquisition extends the company's 132-year commitment to its mission of working for a safer world and expands its global footprint while enhancing its testing, inspection and certification services for electrical safety and connected products. UL Solutions, based in Northbrook, Illinois, and listed on the New York Stock Exchange under the ticker ULS, serves customers in more than 110 countries.
ULS · Capital · Positive UL Solutions completed the acquisition of Eurofins' electrical & electronics testing business, expanding its labs and accreditations globally.
ERF.PA · Capital · Negative Eurofins divested its electrical and electronics testing, compliance and certification business to UL Solutions.
Charles River Associates Raises Fiscal 2026 Revenue Outlook to $805-$820 Million
Charles River Associates raised its fiscal 2026 constant-currency revenue outlook to $805-$820 million from $785-$805 million, citing a healthy project pipeline. The guidance came alongside second-quarter fiscal 2026 results in which operating income rose 19.3% year over year to $23.5 million and operating margin expanded to 11.2% from 10.6%. Adjusted EBITDA increased 15.3% to $26.8 million, with margin improving to 12.7% from 12.4%, while adjusted net income rose 9% to $13.9 million. Revenue growth was broad-based: Legal & Regulatory services rose 10.1% and Management Consulting grew 25.5%, with Energy, Finance, Forensic Services, Intellectual Property, Life Sciences and Risk, Investigations & Analytics each posting double-digit growth, and the Antitrust & Competition Economics practice delivering its sixth consecutive record quarter. North American revenues rose 8.7% while international operations advanced 32.9%. On capital returns, the company repurchased 309,000 shares for $49.3 million at an average price of $160 per share in the first half of fiscal 2026 and paid $7.4 million in dividends and dividend equivalents, and its board declared a quarterly dividend of $0.57 per share in August 2026.
Robert Half 2027 Salary Guide: 55% of Employers Stretch Pay Budgets for Specialized Talent
Robert Half released its 2027 Salary Guide, projecting salary increases of between +1.1% and +1.8% across the six professional fields it covers, with 55% of managers saying they are offering higher-than-planned salaries to attract top talent. More than six in 10 employers, 61%, cite specialized skills as the reason for paying above planned budget, and 63% are increasing pay for professionals with relevant AI skills, while 32% say AI expertise commands a greater premium than other technical skills. Six in 10 organizations are raising compensation budgets despite cost pressures, and 70% of companies are taking pay transparency steps beyond legal requirements, with 49% saying this has produced higher-quality candidate pools. Among individual roles, the marketing automation specialist is expected to see the largest increase at +5.9%, followed by the business intelligence developer at +5.3%, the chief information security officer at +5.2%, the litigation support and eDiscovery director at +5.1%, and the digital strategist at +5.0%, all above the national average increase of +1.4%. The guide also flags gaps between what workers value and what employers offer, including cost of living adjustments, valued by 50% of workers but offered by 18% of employers, and flexible work schedules, valued by 66% but offered by 52%.
RHI · Demand · Positive Robert Half's 2027 Salary Guide shows 55% of employers stretching pay budgets and rising demand for specialized/AI talent, supporting its staffing and recruiting business.
Leidos Appoints AT&T COO Jeff McElfresh to Board of Directors
Leidos has appointed Jeff McElfresh, AT&T's chief operating officer, to its board of directors effective October 1. McElfresh's career at AT&T spans more than 30 years, and he currently oversees the company's $250 billion nationwide advanced connectivity infrastructure transformation, an expertise Leidos said aligns with its core digital work and expanding energy infrastructure business. In prior roles at AT&T he oversaw cybersecurity, data management, and labs, and before joining AT&T he began his career as a defense tech engineer on aerospace and maritime projects. His appointment increases the Leidos board to 11 members, and he will serve on the board's Corporate Governance and Ethics and Technology and Information Security committees. Board Chair Bob Shapard said McElfresh's experience and leadership will strengthen the board's independent oversight, while CEO Tom Bell said he looks forward to working with him as Leidos advances its NorthStar 2030 growth strategy.
LDOS · Capital · Positive Leidos appoints AT&T COO Jeff McElfresh to its board, adding connectivity and cybersecurity expertise to support its NorthStar 2030 strategy.
FTI Consulting Appoints Christina Morris as Senior Managing Director for AI-Enabled Healthcare
FTI Consulting has appointed Christina Morris as a Senior Managing Director in its Healthcare Risk Management & Advisory practice, part of the firm's Forensic and Litigation Consulting segment. Based in Washington, D.C., Morris brings more than 25 years of experience helping global pharmaceutical and life sciences organizations modernize risk, regulatory compliance and quality operations, including work redesigning business processes and operating models through artificial intelligence, automation and process orchestration. In her new role, she will help clients apply automation, data, AI and business process management to strengthen compliance, reduce operational risk, improve audit readiness and build more resilient operating models. Before joining FTI Consulting, Morris was a Managing Director at a Big Four firm leading technology-driven transformation initiatives focused on AI, GenAI, hyperautomation and intelligent platforms, and she has held senior positions at Hoverstate, FrontierBPM and EY, with more than 10 years in the healthcare and life sciences industry. FTI Consulting has more than 8,100 employees in 32 countries and territories as of June 30, 2026, and generated $3.8 billion in revenues during fiscal year 2025.
FCN · Capital · Positive FTI Consulting appoints Christina Morris as Senior Managing Director, adding AI/healthcare compliance expertise to its Forensic and Litigation Consulting practice.
Coincheck to Introduce 10-Tier Fee Structure from October 19
Crypto asset exchange Coincheck announced on October 1 that it will introduce tiered fees for its exchange order book trading from 2 p.m. on October 19. The fee rates will be determined by 10 levels based on the user's trading volume over the most recent 30 days or their deposited assets, with the level judged by whichever of trading volume or deposited assets results in the lower rate. The highest level for general users applies when trading volume is under 1 million yen and deposited assets are under 2 million yen, with a Maker fee of 0.1000% and a Taker fee of 0.1200%. Rates fall as the level rises, and VIP9, for trading volume of 10 billion yen or more or deposited assets of 1 billion yen or more, has a Maker fee of 0% and a Taker fee of 0.0025%. The new structure covers all crypto assets handled on the exchange except the Bitcoin and Japanese yen pair, while the Bitcoin and Japanese yen pair remains at 0% but is still included in the trading volume used to determine levels.
FactSet, Concentrix Beat Estimates; HPE Inks $1.2 Billion Vultr Deal; Mattel Names New CEO
FactSet Research Systems posted fourth-quarter fiscal 2026 adjusted earnings of $4.52 per share, beating the Zacks Consensus Estimate of $4.32 per share, and its shares advanced 3.8%. Concentrix Corp. reported third-quarter fiscal 2026 adjusted earnings of $2.92 per share, outpacing the Zacks Consensus Estimate of $2.71 per share, with its shares rising 0.3%. Hewlett Packard Enterprise Co. entered into a $1.2 billion deal with Vultr, sending its shares up 3.9%. Mattel, Inc. appointed Roger Lynch as its new CEO and chairman, and its shares tumbled 4.2%.
Concentrix Posts $988.1 Million Net Loss on $1.05 Billion Goodwill Impairment
Concentrix reported a net loss of $988.1 million, or $(16.24) per diluted share, for its third quarter, driven primarily by a $1,050.0 million non-cash goodwill impairment charge. The customer experience solutions provider recorded an operating loss of $910.3 million, while adjusted results showed non-GAAP operating income of $309.0 million and non-GAAP earnings of $2.92 per share. Sales fell 1.2% year on year to $2.45 billion, coming in slightly below Wall Street estimates, as President and Chief Executive Officer Christopher Caldwell cited accelerating client artificial intelligence deployments and decisions by two hyperscale clients to reduce support for certain accounts. Chief Financial Officer Andre Valentine said client shifts toward offshore delivery created an approximate 3% revenue headwind, though adjusted free cash flow reached a third-quarter record of $218.3 million and non-GAAP operating margin expanded 30 basis points to 12.6%. Shares rose 4% in the morning session before cooling to $25.73, up 1% from the previous close.
CNXC · Capital · Negative Concentrix posted a $988.1M net loss driven by a $1.05B non-cash goodwill impairment charge, with sales down 1.2% and missing estimates.
CNXC · Demand · Negative CEO cited accelerating client AI deployments and two hyperscale clients reducing support for certain accounts, plus a ~3% offshore-delivery revenue headwind.
US Job Postings Rise for First Time Since 2022 as ADP Shows 90,000 Private-Sector Jobs Added
Job postings in the United States are on the rise for the first time since 2022, even as the labor force shrinks and worker confidence hits a record low. The ADP National Employment report showed the private-sector labor market added 90,000 jobs in September, one of its strongest readings since May, with wages also increasing. Growth in postings is concentrated in data technology and software development, while healthcare and education also offer opportunities. Economists expect the unemployment rate, at 4.1%, to shift little this year or next, but the labor market has been reshaped by retiring baby boomers, reduced immigration and fewer women in the workforce. Job seekers who were out of work in August have been searching for roughly six months, and many employed workers are staying put amid uncertainty and stagnant wages.
ADP · Capital · Positive ADP's own National Employment report showed 90,000 private-sector jobs added in September, one of its strongest readings since May, boosting its data-services franchise.
Robinhood Plans Weekend Equities Trading as Cal-Maine and Concentrix Slide
Robinhood plans to offer weekend trading for equities, a first for modern US markets, allowing customers to trade a selected list of stocks and exchange-traded funds over the weekend, and it will also allow trading of perpetual futures on select cryptocurrencies and contracts linked to financial earnings. Cal-Maine shares fell 7.5% after the egg producer reported first-quarter net sales that missed the average analyst estimate and said it won't pay a cash dividend in the first quarter, with CEO Sherman Miller citing an industrywide supply imbalance and pressure on pricing. Concentrix shares slid 7.5% after the call center operator's fourth-quarter revenue forecast missed the average analyst estimate amid concerns that AI-assisted automation tools will reshape the business; about 50% of Concentrix revenue now comes from business earned since introducing AI tools, and the company expects free cash flow to rise to about 630 to 650 million dollars in fiscal 2026, though the stock is down 40% year to date.
CALM · Supply · Negative Cal-Maine reported Q1 net sales missing estimates and no dividend, with CEO citing an industrywide supply imbalance and pricing pressure.
US ADP Private Employment Rises 90,000 in September, Beating Market Expectations
According to the September national employment report released by US private employment services company ADP on the 30th, the number of private nonfarm payrolls (seasonally adjusted) rose by 90,000 from the previous month, exceeding the market expectation of 70,000, according to Reuters. By sector, education and health added 55,000, leisure and hospitality added 22,000, construction added 15,000, and manufacturing added 17,000, while financial activities shed 16,000 and professional and business services shed 11,000. Nonfarm payrolls rose 36,000 in August.
ADP · Capital · Positive ADP's own September national employment report showed private payrolls rising 90,000, beating the 70,000 expectation, a positive data point for the company's flagship employment-reporting business.
ADP reports U.S. private-sector hiring rose by 90,000 in September, above expectations
Automatic Data Processing Inc. reported that U.S. private-sector employment rose by 90,000 in September, above analysts' expectations of 70,000, after an increase of 36,000 in August. Hiring was strong in the education and health services sector, which added 55,000 jobs, while the leisure and hospitality sector created 22,000 jobs. Midsized companies with 250 to 499 employees were the group with the most hiring.
ADP · Demand · Positive ADP's own private-sector hiring report showed 90,000 jobs added in September, above expectations, reflecting strong demand for its payroll/employment services.
Affirm Partners With Crate & Barrel to Expand Pay-Over-Time Reach
Affirm Holdings has struck a new partnership with Crate & Barrel Holdings, bringing its pay-over-time financing to Crate & Barrel, Crate & Barrel Kids and CB2 customers in the United States and Canada, with biweekly or monthly payment options starting at 0% APR and no late fees or hidden charges. The deal adds Crate & Barrel Holdings, which operates more than 100 stores and websites across the United States and Canada and draws more than 200 million customer visits a year, to Affirm's network of more than 570,000 active merchant partners, broadening its reach in the home-furnishing category. Affirm said the near-term financial impact is difficult to quantify because the companies did not disclose transaction volumes or revenue contribution, and that the partnership's contribution will depend on customer engagement and the volume of purchases financed through Affirm. Stronger usage across Crate & Barrel's brands could gradually increase the partnership's contribution to Gross Merchandise Volume and revenues. Affirm faces competition from Block, which is deepening Afterpay's integration with Cash App, and from PayPal, whose Pay in 4 and Pay Monthly offerings cover purchases up to $10,000. Affirm shares have risen 51.3% over the past six months compared with the industry's 30.2% growth, and the Zacks Consensus Estimate for its 2026 earnings stands at $1.87 per share, followed by 53.3% growth next year.
Boeing Wins $20 Billion Navy F/A-XX Fighter Contract; Moderna Downgraded by Citi
Boeing surged 3% in premarket trading to $193.41 after the Pentagon selected the aerospace giant to develop the U.S. Navy's next-generation carrier-based strike fighter, the F/A-XX, under a contract valued at more than $20 billion. The award, which beat out rival Northrop Grumman, marks Boeing's second consecutive sixth-generation fighter program win and places the company at the center of the Navy's Next Generation Air Dominance initiative. Concentrix plunged 11.1% to $22.11 after reporting fiscal third-quarter revenue of $2.45 billion, down 1.2% year over year and about $30 million short of expectations, and guiding fourth-quarter revenue down 3% to 5% on a constant-currency basis while cutting its full-year 2026 revenue outlook to $9.827 billion-$9.877 billion. Moderna fell 6.3% after Citi downgraded the biotechnology company to Sell and raised its price target to $80 from $60, saying the valuation had become stretched following a run to a new 52-week high of $208.90. GameStop rose 1.6% after CEO Ryan Cohen disclosed an open-market purchase of 450,000 Class A shares on Sept. 29 for about $10.6 million, lifting his total beneficial ownership to 44.68 million shares, or about 8.8% of the company. Yiren Digital rose 6.1% despite reporting a GAAP loss of 75 cents per share and revenue of about $131.2 million, down roughly 43% year over year, as investors focused on a sequential narrowing of the net loss.
BA · Demand · Positive Pentagon selected Boeing to develop the Navy's F/A-XX fighter under a contract valued at more than $20 billion, beating Northrop Grumman.
CNXC · Capital · Negative Concentrix reported Q3 revenue below expectations and cut its Q4 and full-year 2026 revenue outlook.
GME · Capital · Positive CEO Ryan Cohen disclosed an open-market purchase of 450,000 Class A shares for about $10.6 million, lifting his ownership to 8.8%.
MRNA · Capital · Negative Citi downgraded Moderna to Sell, saying the valuation had become stretched after a run to a new 52-week high.
Boeing secured a $20 billion contract with the defense department to develop the next generation of fighter jets, sending its shares up 2% premarket. The deal covers development of the Sixth-Generation F/A-XX Strike Fighter, while Northrop Grumman, reportedly also in contention for the contract, tumbled 3.5%. Robinhood Markets rose 2% after announcing an in-app AI agent for its traders, plans to launch 24/7 trading for certain stocks, and the introduction of perpetual futures to its U.S. users soon. Moderna declined more than 6% after Citi downgraded the stock to sell, with analysts setting a price target 60% below Tuesday's closing price and saying the current valuation can't be justified. Concentrix fell 9.5% after fiscal third-quarter revenue came in slightly below expectations, with non-GAAP earnings per share and current-quarter revenue guidance also below estimates, and the company said on its earnings call that its AI transition is pressuring revenues. Cal-Maine Foods tumbled more than 6.5% after reporting a wider-than-expected fiscal first-quarter loss of $1.26 per share versus the 77-cent loss analysts polled by FactSet expected, while FormFactor rose 1% after Deutsche Bank initiated coverage with a buy rating, citing rising chip testing intensity and its position as the second source of probe cards for Nvidia's GPUs at TSMC.
BA · Demand · Positive Boeing won a $20 billion defense contract to develop the Sixth-Generation F/A-XX Strike Fighter.
CALM · Capital · Negative Cal-Maine reported a wider-than-expected fiscal Q1 loss of $1.26 per share versus the 77-cent loss expected.
CNXC · Capital · Negative Concentrix fiscal Q3 revenue missed expectations and EPS and current-quarter guidance also came in below estimates.
FORM · Capital · Positive Deutsche Bank initiated coverage of FormFactor with a buy rating, citing rising chip testing intensity and its probe-card position for Nvidia GPUs at TSMC.
HOOD · Technology · Positive Robinhood announced an in-app AI agent for traders, plans for 24/7 trading on certain stocks, and perpetual futures for U.S. users.
MRNA · Capital · Negative Citi downgraded Moderna to sell with a price target 60% below the prior close, citing unjustifiable valuation.
ST Jianyi Opens Public Recruitment for Investors; Industrial Investor Registration Deposit Set at 50 Million Yuan
ST Jianyi announced that, in order to advance out-of-court restructuring and subsequent judicial reorganization, the company has decided to publicly recruit and select investors. The recruitment is divided into two categories: industrial investors and financial investors. Industrial investors must meet conditions including positive net profit over the past three years and average revenue of no less than 500 million yuan, with a registration deposit of 50 million yuan. Financial investors must subscribe for no fewer than 5 million shares, with a registration deposit of 10 million yuan. The base price for this investment offer is 5.58 yuan per share. The registration deadline is 5 p.m. on October 28, 2026.
002789.CS · Capital · Neutral ST Jianyi launches public recruitment of industrial and financial investors with deposits and a 5.58 yuan/share base price to advance out-of-court restructuring and judicial reorganization.
Equifax Falls 4.1% Premarket as FHFA Unifies Mortgage Pricing Grid
Equifax shares fell 4.1% in premarket trading after Federal Housing Finance Agency Director Bill Pulte announced a unified mortgage pricing grid, escalating regulatory pressure on credit bureau fees. Pulte said on social media that Fannie Mae and Freddie Mac will consolidate loan-pricing matrices into a single grid, formally incorporating VantageScore alongside FICO Classic. Hours later, competitor TransUnion said it will maintain standalone VantageScore 4.0 pricing at 99 cents through December 2028, giving lenders long-term cost certainty under the expanded FHFA framework. Equifax co-owns VantageScore with TransUnion and Experian, and Pulte said the agency is meeting with the three major bureaus while studying a transition of mortgage underwriting to bi-merge or single-bureau reports to cut consumer closing costs. After the initial drop, Equifax shares recovered to $141.41, down 3% from the previous close, and the stock is down 33.9% year to date, trading 44.9% below its 52-week high of $256.53.
TRU · Regulation · Neutral TransUnion is affected by the same FHFA framework but said it will hold standalone VantageScore 4.0 pricing at 99 cents through 2028, giving lenders cost certainty.
UL Solutions Launches Certification for Direct-to-Chip Liquid Cooling Equipment
UL Solutions Inc. launched a certification program for liquid cooling subassemblies that target powerful chips directly in AI data centers and other high-density computing systems. The Northbrook, Illinois-based company said the program evaluates eligible liquid-filled parts and subassemblies that move coolant through information and communication technology equipment, including cold plates, manifolds and quick disconnects. UL Solutions uses UL 4501, the Outline of Investigation for Safety, Performance and Interoperability of Liquid-Filled Components and Assemblies Used in Liquid Cooling Systems, to assess coolant compatibility, pressure and leak integrity, durability, liquid flow, interoperability, production controls and installation requirements. President and CEO Jennifer Scanlon said the certification helps IT equipment manufacturers demonstrate product performance and safety while giving data center operators greater confidence during integration, and Milan Dotlich, vice president and general manager of Data Center Solutions, said independent evaluation of liquid cooling components can help organizations deploy advanced computing systems with greater confidence. The company noted that global data center electricity use is expected to more than double between 2024 and 2030, and that cooling can account for up to 40% of a data center's energy use.
ULS · Technology · Positive UL Solutions launched a new certification program (UL 4501) for direct-to-chip liquid cooling equipment used in AI data centers.
Concentrix Posts $2.45B Q3 Revenue, Swings to Loss on $1.05B Goodwill Impairment, Raises Dividend
Concentrix Corporation reported third quarter fiscal 2026 revenue of $2,453.7 million, down 1.2% from $2,483.3 million a year earlier, and swung to a net loss of $988.1 million, or $16.24 per diluted share, after recording a non-cash goodwill impairment charge of $1,050.0 million tied to the recent trading range for its stock price and market capitalization. On a non-GAAP basis, the company exceeded its profitability guidance, with operating income of $309.0 million, or 12.6% of revenue, up from $305.1 million, or 12.3%, and adjusted EBITDA of $363.0 million, or 14.8% of revenue, up from $359.2 million, or 14.5%. Non-GAAP diluted earnings per share rose 5.0% to $2.92 from $2.78. The quarter generated record-high third quarter free cash flow from operations of $268.2 million and adjusted free cash flow of $218.3 million. Concentrix paid a quarterly dividend of $0.36 per share on August 4, 2026, and its board declared an increased quarterly dividend of $0.37 per share payable November 3, 2026, to shareholders of record as of October 23, 2026; the company repurchased no shares in the quarter, leaving $396.6 million remaining under its repurchase authorization. For the fourth quarter, Concentrix guided to reported revenue of $2.410 billion to $2.460 billion, non-GAAP operating income of $310 million to $320 million, and non-GAAP diluted EPS of $2.86 to $2.98, implying a constant currency revenue decline of 5.0% to 3.0%. For the full year, it expects reported revenue of $9.827 billion to $9.877 billion, non-GAAP operating income of $1,206 million to $1,216 million, non-GAAP diluted EPS of $10.97 to $11.09, and adjusted free cash flow of approximately $630.0 million to $650.0 million.
CNXC · Capital · Neutral Q3 revenue fell 1.2% and it swung to a $988.1M net loss on a $1.05B goodwill impairment, though non-GAAP profit and EPS rose and the dividend was raised.
ADP Set to Report First Quarter Fiscal 2027 Results on October 28
Automatic Data Processing is scheduled to report first quarter fiscal 2027 results before the Nasdaq opens on October 28, 2026, with attention shifting to what management says on the accompanying call. The stock has fallen 8.93% over the past month, though it still shows a 16.90% 90 day share price return, while the 1 year total shareholder return is down 7.95% and the 5 year total shareholder return is 46.37%. At a last close of $261.80 against a narrative fair value of $287.60, the company is framed as modestly undervalued, with management targeting 70 to 90 basis points of adjusted EBIT margin expansion annually as investments in AI driven automation across ADP Assist, Lyric and the Zone support lower contacts per client and higher service productivity. The stock trades on a P/E of 23.5x, richer than peers at 19.2x and the US Professional Services average at 21x, yet below a fair ratio of 26.8x. The bullish story could be knocked off course if PEO margins remain under pressure or new AI driven payroll competitors chip away at pricing power.
ADP · Capital · Neutral ADP is the subject, but the article only previews its upcoming Q1 FY2027 earnings date and cites valuation/margin targets without a new development.
Leidos launches UpHold Effect Agentic SOC Automation for federal cyber teams
Leidos has introduced UpHold Effect Agentic SOC Automation, an agentic AI capability that uses AI agents around the clock to help security operations center teams identify threats requiring immediate action amid a deluge of cyber alerts. The capability is a feature within UpHold Effect, Leidos' offering for agentic cyber response and part of the UpHold product suite, and it works across an organization's existing security tools to investigate alerts, gather information and recommend next steps rather than requiring agencies to replace their existing systems. Customers determine how much authority the AI receives based on mission, risk tolerance and governance requirements, and recommendations and actions create auditable records showing what the AI observed, concluded and proposed or did. A FedRAMP Class D High deployment option is available, and the capability can also provide a pathway toward Department of war Impact Level 4 and 5 environments with appropriate government sponsorship. Steve Hull, president of Leidos Digital, said cyber teams need to keep pace with threats without giving up control, and that the capability can take on more of the investigative workload while giving agencies the flexibility to decide when AI recommends an action and when it is allowed to act. Leidos, headquartered in Reston, Virginia, with 50,000 global employees, reported annual revenues of approximately $17.2 billion for the fiscal year ended January 2, 2026.
LDOS · Technology · Positive Leidos launched UpHold Effect Agentic SOC Automation, a new agentic AI cyber capability for federal security operations teams.
J.P. Morgan Upgrades Bureau Veritas to Overweight, Raises Target to €34
J.P. Morgan upgraded Bureau Veritas to "overweight" from "neutral" and raised its December 2027 price target to €34 from €28, citing faster organic growth and increased merger and acquisition activity. The inspection and certification company's shares closed at €26.57 on Sept. 28, according to the brokerage note dated Sept. 29. J.P. Morgan expects organic revenue growth of 6.8% in 2027 and 6.6% in 2028, above Bloomberg consensus estimates of 5.9% and 5.8%, respectively, with data-centre services expected to contribute about 1 percentage point to organic growth in 2027. The bank said 2026 should mark a trough in the company's growth cycle after project delays and disruption linked to the Middle East conflict, and it raised its 2027 revenue and earnings-per-share forecasts by 2% and 1.7%, respectively, while leaving 2026 estimates broadly unchanged. J.P. Morgan also pointed to scope for increased M&A after last week's capital markets day, where management raised its target leverage range to 1.5-2.0 times net debt to EBITDA, estimating Bureau Veritas could have more than €1 billion of excess cash available for acquisitions in 2027 within that framework.
BVI.PA · Capital · Positive J.P. Morgan upgraded Bureau Veritas to overweight and raised its price target to €34, citing faster organic growth and M&A scope.
GFT Survey Finds 84% of CIOs Canceled AI Projects Over Legacy Systems
A new GFT Technologies survey of 945 CIOs and CTOs at companies with at least $500M in annual revenue across 19 countries found that 84% have canceled an AI pilot or project because of limitations in their legacy systems. The study, conducted by Wakefield Research between August 11 and 31, 2026, also found that 93% believe failing to modernize before running AI on legacy infrastructure will eventually trigger an enterprise-wide security crisis, while 89% are concerned that global AI investment may be growing faster than the business value it can realistically deliver. On geopolitics, 99% said potential government restrictions on AI access increase the importance of not depending on a single AI provider, and 91% believe some public companies cite AI to justify workforce changes primarily intended to boost their share price. Personal risk is also rising for technology leaders, with 89% concerned that a wrong workforce decision made while scaling AI could put their own job at risk, and only 20% saying their organization's other C-suite executives and board members fully understand the security risks of running AI on legacy systems. Marco Santos, Global CEO of GFT Technologies, said legacy infrastructure is becoming a real constraint not only on innovation but also on security and scalability, and that closing the gap between AI ambition and infrastructure readiness is critical to turning AI investment into sustainable business value.
GFT.XETRA · Demand · Positive GFT's own survey of 945 CIOs highlights legacy-system constraints on AI, positioning its modernization services as the solution to a demand gap.
Paychex Q1 Revenue Rises 6% to $1.6 Billion as PEO Guidance Raised
Paychex reported fiscal 2027 first-quarter revenue up 6% to $1.6 billion and adjusted EPS up 10% to $1.34, both ahead of expectations, yet the stock sold off sharply enough that JPMorgan upgraded the shares to Neutral from Underweight and raised its price target to $115 from $105, calling the reaction overdone. PEO and Insurance Solutions revenue jumped 12% to $367.6 million, prompting management to raise full-year PEO guidance to 7% - 8% from 6% - 7%, while total revenue guidance held at 5% - 6%. CEO John Gibson said new logo PEO sales and ASO-to-PEO conversions accelerated together, running roughly double plan, with enterprise bookings up double digits and broker referrals up 43% year-over-year after a third national broker partnership in six months with IMA Financial Group. Management Solutions growth slowed to 4% from roughly 5.5% in the fourth quarter, which CFO Bob Schrader attributed mostly to ASO clients shifting into PEO, calling it left pocket, right pocket. BMO Capital cut its target to $113 from $118, Stifel cut to $112 from $130, and Jefferies trimmed to $110 from $120, with Jefferies saying investors want proof the segment has stabilized before rewarding PEO strength.
PAYX · Capital · Positive Q1 revenue up 6% to $1.6B and adjusted EPS up 10% to $1.34 beat expectations, with PEO guidance raised to 7%-8%.
PAYX · Demand · Positive New logo PEO sales and ASO-to-PEO conversions ran roughly double plan, enterprise bookings up double digits, and broker referrals up 43%.
JPM · Capital · Positive JPMorgan upgraded Paychex to Neutral from Underweight and raised its price target to $115 from $105, calling the selloff overdone.
JEF · Capital · Negative Jefferies trimmed its Paychex price target to $110 from $120, saying investors want proof the segment has stabilized.
SF · Capital · Negative Stifel cut its Paychex price target to $112 from $130.
Concentrix Q3 Earnings Due September 29 With $2.70 EPS Estimate
Concentrix is scheduled to report its Q3 earnings results on Tuesday, September 29th, after market close. The consensus EPS estimate is $2.70, down 2.9% year over year, while the consensus revenue estimate is $2.48B, flat year over year. Over the last two years, Concentrix has beaten EPS estimates 50% of the time and revenue estimates 63% of the time. Over the last three months, EPS estimates have seen 0 upward revisions and 3 downward, and revenue estimates have also seen 0 upward revisions and 3 downward.
CNXC · Capital · Negative Q3 EPS estimate of $2.70 is down 2.9% YoY with 3 downward estimate revisions and no upward revisions in the last three months.
Broadridge Raises Dividend 12% and Authorizes $1.5 Billion Buyback
Broadridge Financial Solutions increased its annual dividend by 12% to $4.36 per share and declared a quarterly dividend of $1.09 per share in the first quarter of fiscal 2027, while its board authorized a new $1.5 billion share repurchase program to replace the remaining authorization under the previous plan. The company paid dividends of $331 million, $368.2 million and $402.3 million in fiscal 2023, 2024 and 2025, respectively, and paid $443.5 million at the end of fiscal 2026. Broadridge's first-quarter fiscal 2027 earnings are expected to be down 9.3% year over year, while earnings for fiscal 2027 and 2028 are projected to rise 9.8% and 10.2% year over year, with revenues expected to increase 5.02% in fiscal 2027 and 5.34% in fiscal 2028. The company has expanded its digital assets platform into the U.S. wealth management market through partnerships with Anchorage Digital and Galaxy Digital, launched DLX to connect tokenized and traditional financial markets, extended its Distributed Ledger Repo solution to G7 securities, and collaborated with Payward Services to support proxy voting for eligible xStocks holders. Total operating cost rose 7% year over year in 2024, 3.8% in fiscal 2025 and 8.4% in 2026, and Broadridge currently carries a Zacks Rank #3 (Hold).
FTI Consulting Names Barontini and Taglialatela to Lead Italy Restructuring Push
FTI Consulting has appointed Jacopo Barontini as a Senior Managing Director and Head of Turnaround & Restructuring in Italy, joined by Fulvio Taglialatela as a Managing Director, both in the firm's Corporate Finance segment in Milan. Barontini brings more than 30 years of experience in restructuring, corporate finance, distressed M&A and special situations, and was previously Head of Financial Restructuring and Co-Head of Financial & Operational Restructuring in Italy at Alvarez & Marsal after serving as a Partner at Deloitte. Taglialatela, who has more than 20 years of experience in financial restructuring, turnaround and debt restructuring advisory across real estate, hospitality, consumer products, automotive and energy, was most recently a Senior Director at Alvarez & Marsal and previously worked at Deloitte and PwC. The appointments follow the recent addition of Dr. Riccardo Siliprandi in the Milan office to lead FTI Consulting's Energy practice in Italy. FTI Consulting, which reported $3.8 billion in revenues during fiscal year 2025 and has more than 8,100 employees in 32 countries and territories as of June 30, 2026, said the hires strengthen its ability to take on larger and more complex mandates in Italy and cross-border engagements.
FCN · Demand · Positive FTI Consulting hired senior restructuring leaders in Italy to strengthen its ability to take on larger and more complex mandates, expanding its advisory business.
Alvarez & Marsal · Competition · Negative Alvarez & Marsal lost two restructuring professionals to FTI Consulting, a competitive talent drain.
Equifax Market Pulse Index Rises to 61.3 as K-Shaped Economic Gap Pauses for First Time in Three Years
Equifax released its second quarter 2026 Market Pulse Index, which rose slightly from 60.9 to 61.3, marking the first pause in the widening K-shaped economic gap in three years. The index, a measure of U.S. consumer financial health derived from anonymized credit, debt, income, and asset data along with VantageScore credit score insights, still sits just below its level a year ago. Within the index's three consumer segments, the top-tier Thrivers grew by 3.2%, the Middle, which represents nearly 70% of the U.S. population, expanded slightly by 0.9%, and the more economically sensitive Strivers contracted by 4.2%, the segment's sharpest drop since the fourth quarter of 2023. Assets remain the clearest dividing line: nearly 78% of Thrivers are considered Affluent, holding more than $1 million in assets, while over 97% of Strivers are Mass Market, with less than $100,000 in assets. For the first time since the third quarter of 2025, index values rose across all age segments, with Millennials leading at a 1.0% quarterly gain to an average index of 58.7, while consumer sentiment fell to 49.5, its lowest reading since tracking began.
EFX · · Neutral Equifax's own Market Pulse Index rose slightly to 61.3, but the report shows a mixed picture with Strivers contracting 4.2% and sentiment at a record low, so the net impact on Equifax is unclear.
FTI Consulting Appoints José Claudio Treviño to Lead Mexico Risk & Investigations
FTI Consulting has appointed José Claudio Treviño as a Senior Managing Director and Leader of its Mexico Risk & Investigations practice, expanding the firm's financial crime, forensic investigations, ethics and compliance, and anti-corruption services across Mexico and Latin America. Treviño brings more than 23 years of experience in anti-bribery and corruption compliance, internal and external fraud matters, FCPA and UK Bribery Act issues, third-party risk management, and pre- and post-acquisition due diligence. He previously was a Partner in Deloitte's Spanish Latin America Forensic & Financial Crime practice, held senior forensic consulting leadership roles at KPMG Mexico, and served as head of Anti-Bribery & Corruption, Financial Crimes Compliance for HSBC in Mexico. He is a Certified Fraud Examiner and Certified Forensic Interviewer and sits on the boards of the Instituto Mexicano de Mejores Prácticas Corporativas and the Asociación Mexicana de Integridad y Compliance. FTI Consulting has more than 8,100 employees in 32 countries and territories as of June 30, 2026, and generated $3.8 billion in revenues during fiscal year 2025.
FCN · Demand · Positive FTI Consulting appoints a senior leader to expand its Mexico Risk & Investigations practice, a concrete growth/expansion of its services.
Kanzhun Declares $0.51 Per Share Dividend With 2026 Ex-Dividend Date
Kanzhun Ltd has announced a total dividend of $0.51 per share, consisting entirely of a cash dividend, with an ex-dividend date of 2026-09-28 and a payment date of 2026-10-14. The Chinese online recruitment company, best known for its Boss Zhipin mobile platform, has maintained a consistent annual dividend record since 2025. As of today, Kanzhun carries a 12-month trailing dividend yield of 1.18% and a 12-month forward dividend yield of 3.66%, with a payout ratio of 0.10 as of 2026-06-30. The company's revenue has grown approximately 19.10% per year on average over three years, while earnings increased roughly 189.40% per year on average over the same period. GuruFocus ranks Kanzhun's profitability and growth each 5 out of 10, and notes the company has reported net profit in 4 of the past 10 years.
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