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Release – SKYX Announces Closing of Merger with Leading AI Smart Home Technology Company Deako, Positioning the Combined Company to Become a Leader in the AI Smart Home Market

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MIAMI, Oct. 14, 2026 (GLOBE NEWSWIRE) — SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), an award-winning, highly disruptive advanced safe-smart home and AI platform technology company with over 120 U.S. and global pending and issued patents, with a mission to make homes and buildings advanced, safe and smart instantly as the new standard, today announced the closing of its merger with Deako, Inc., a Silicon Valley-backed U.S. smart home technology company. The combined company aims to lead the AI smart home, builder and hotel markets with its plug & play smart home and AI platform technologies.

Merger Highlights and Economics

  • Post merger, current SKYX’s shareholders own 84.4% of the Company and Deako’s shareholders and lender collectively own 15.6%.
  • Deako’s Lead Investors include Paul Jacobs, former Chairman and CEO of Qualcomm; Deako’s Former Board Member Marwan Fawaz was the former CEO of Nest (Google).
  • The combined SKYX and Deako pipeline is estimated at over 4 million units with an expected average selling price of approximately $50 per product.
  • Synergies between SKYX and Deako are expected to save over $6 million in overlapping annual expenses.
  • SKYX’s full product line is expected to create an opportunity to increase Deako’s revenue per home by up to five-fold.
  • Deako has recently extended it supply agreement with leading builders D.R. Horton and Stone Martin.
  • Deako has shipped over 32 million units, including its smart plug-in wall switches, and generated over $26 million in revenue in 2025.
  • The SKYX Deako combined estimated expense reduction of over $6 million annually is expected to move Deako into profitability as well as support SKYX’s goal of becoming cash flow positive.
  • SKYX Deako merger is expected to provide future recurring revenue opportunities from plug & play product interchangeability, AI services, monitoring, subscriptions, licensing, among others.
  • Deako is a leading technology supplier to the builder market, and its customers include over 50 U.S. home builders, including D.R. Horton, Toll Brothers, Risewell Homes, Adams Homes, Maronda Homes, Shea Homes and Schumacher Homes, among others.
  • Deako, Inc. is a smart home and intelligent lighting company with 20 U.S. and global issued and pending patents for plug & play smart and AI-activated lighting wall switches.
  • The merger expands SKYX’s collective patent portfolio to over 120 patents and pending applications related to platforms, smart home, AI and plug & play products.
  • The merger between SKYX and Deako will enable SKYX to offer an A-to-Z AI and smart home plug & play solution for homes and buildings including wall outlets, wall switches and ceiling outlet boxes for smart home and safety products, lighting, ceiling fans, smoke detectors, among others.
  • Most smart home solutions today require time-consuming and costly wired installation and address only part of the A-to-Z opportunity, while the combined company aims to offer a complete A-to-Z AI and plug & play smart home solution.
  • The merger is expected to fast-track SKYX’s technologies and products into Deako’s builder footprint of over 50 U.S. home builders, including those named above.
  • The merger opens the door for Deako’s products in SKYX projects, including Marriott and European hotels and Miami’s $4 billion Smart City.
  • The merger is expected to provide deployment opportunities of millions of combined products into the builder, hotel and pro markets, and future recurring revenue opportunities from plug & play product interchangeability, AI services, monitoring, subscriptions, licensing, among others.
  • As consideration for the merger, SKYX issued 25,000,000 shares of common stock, subject to a 21-month lock-up and leak-out agreement, with a 12-month full lock-up, followed by quarterly releases after 12 months, 15 months, 18 months, and 21 months after the closing, with share sales subject to a Rule 10b5-1 trading plan. Post merger, current SKYX’s shareholders own 84.4% of the Company and Deako’s shareholders and lender collectively own 15.6%.
  • SKYX paid Deako’s senior lender $2M at signing on September 9, 2026, and $2M at closing, and issued an $8.5M secured promissory note, with $2.25M payable in Q1 2027 and the remaining $6.25M payable in Q4 2027.
  • Based on its safety features, SKYX’s plug & play ceiling outlet receptacle system has in recent years received approval votes from leading U.S. building safety standards organizations including 10 segments in the NFPA-NEC code book (National Fire Protection Association / National Electrical Code) and its specifications received an approval vote as an ANSI/NEMA standard.
SKYX Announces Closing of Merger with Leading AI Smart Home Technology Company Deako

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “The close of the SKYX Deako merger is a major step forward in our mission to make advanced, safe, smart homes and buildings the new standard. Combining our complementary technologies, extensive patent portfolios, and established market relationships, we believe we are creating the most comprehensive A to Z smart home and AI platform in the industry. Importantly, Deako’s track record with 50 prominent U.S. builders provides an opportunity to significantly accelerate SKYX’s builder market penetration, creating a meaningful long-term value for our shareholders.”

Derek Richardson, Founder and CEO of Deako, Inc., stated: “We are excited for the official closing of the SKYX Deako merger. In Deako, we bring a consistent business track record with more than 50 U.S. home builders and over 32 million units shipped, and SKYX brings a broad patent technology portfolio of plug & play and smart home and AI platforms, complemented by its growing market penetration into the hotel and builder segments. Together, we see a significant opportunity to increase revenue per home by as much as five-fold and to create long-term value for SKYX shareholders.”

For more information about Deako: Click Here

For a video demo of SKYX’s technologies: Click Here

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings safe, advanced and smart as the new standard. SKYX has a series of highly disruptive advanced, safe, smart and AI platform technologies, with over 120 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home décor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://www.skyx.com/ or follow us on LinkedIn.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and statements include, but are not limited to, risks relating to the merger, including risks arising from the diversion of management’s attention from the Company’s ongoing business operations, an increase in the amount of costs, fees and expenses and other charges related to the merger agreement or the merger, the outcome of any litigation that the Company or Deako may become subject to relating to the merger, the extent of, and the time necessary to obtain, any regulatory approvals that may be required, risks of disruption to the Company’s business as a result of the public announcement of the merger, the occurrence of any event, change or other circumstance that could give rise to the termination of agreements relating to the merger, including due to a failure of any condition to the of the merger to be satisfied or waived by the applicable party, a decline in the market price for the Company’s common stock, risks that the merger disrupts current plans and operations of the Company or Deako and potential difficulties in Company or Deako employee retention as a result of the merger, the Company’s ability to pay the interest and principal on the promissory notes to be issued in connection with the merger, and the ability to implement business plans, forecasts and other expectations after the completion of the merger, realize the intended benefits of the merger, and identify and realize additional opportunities following the merger. Such risks and uncertainties also include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s ability to expand its market presence and control the market following the merger with Deako; the Company’s ability to achieve positive cash flows; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contacts:

Jeff Ramson
PCG Advisory
[email protected]

Ronald A. Both
Encore Investor Relations
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/de71691f-a0b8-4eb9-bdf8-2b36459d8f07

Apple Reclaims $5 Trillion Valuation as AI Expansion and Strong iPhone Demand Fuel Growth

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Apple (NASDAQ: AAPL) has once again surpassed a $5 trillion market capitalization, becoming only the second publicly traded company to reach the milestone as strong iPhone sales, expanding artificial intelligence capabilities, and renewed investor confidence continue to drive its valuation higher.

Shares climbed more than 1% on Wednesday, October 14, pushing Apple’s market value above the historic threshold. The company initially reached $5 trillion in late July, less than a year after surpassing $4 trillion in October 2025.

Apple shares have gained approximately 26% year to date and nearly 40% over the past 12 months, reflecting investor optimism surrounding the company’s hardware ecosystem and evolving AI strategy.

A significant contributor to Apple’s recent performance has been renewed consumer demand for iPhones, supported by an upgrade cycle throughout 2026.

The company’s ability to maintain customer loyalty while introducing new products has helped reinforce its position in the global smartphone market.

Apple is also preparing additional hardware launches, including its anticipated iPhone Duo foldable smartphone, expected to carry a $1,999 price tag. The premium device could help increase average selling prices and expand Apple’s presence in the growing foldable smartphone category.

Other anticipated products include a touchscreen MacBook and updated iPads, potentially creating additional revenue opportunities across the company’s hardware portfolio.

However, rising memory and storage costs remain a challenge. Supply constraints have contributed to higher device prices, raising questions about whether consumers will continue upgrading at the same pace.

Apple’s expanding artificial intelligence capabilities have become another important driver of investor sentiment.

After facing criticism for delays in rolling out features associated with Apple Intelligence, the company has accelerated development through software updates and partnerships.

Its collaboration with Google provides access to AI models that support Apple’s broader efforts to improve Siri and introduce more advanced capabilities across its devices.

The company is also expanding beyond smartphones and computers into connected home technology.

Apple recently introduced HomeView, a smart home hub designed to integrate its AI-powered Siri assistant into household devices. The product represents an effort to compete more directly with established smart home platforms from Amazon and Google.

The initiative could create additional opportunities in connected devices, automation, and AI-enabled consumer services.

Apple’s valuation highlights the growing importance investors place on companies capable of combining artificial intelligence, hardware innovation, and recurring technology services.

While the milestone primarily reflects Apple’s market position, its continued expansion could also influence smaller companies operating within the broader technology ecosystem.

Businesses developing AI applications, semiconductor technologies, connectivity solutions, and smart device components may benefit from increased industry investment and demand for specialized capabilities.

At the same time, Apple’s scale demonstrates the competitive challenges smaller technology companies face when entering markets dominated by established platforms.

Despite its historic valuation, Apple faces questions surrounding premium device pricing, competitive pressure, and its ability to translate AI investments into sustained revenue growth.

Investors will be watching upcoming product launches, consumer demand, and the financial impact of Apple’s expanding AI capabilities.

For the broader technology sector, Apple’s return to the $5 trillion milestone underscores how innovation, ecosystem strength, and long-term growth expectations continue to shape market valuations.

AZZ (AZZ) – Record Earnings Drive Increased Guidance

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Wednesday, October 14, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q2 FY 2027 Financial Results. AZZ reported adj. net income of $60.1 million, or $2.00 per share, versus $46.9 million, or $1.55 per share, a year ago. Results exceeded our estimates of $54.9 million, or $1.81 per share, by 9.5% and 10.5%, respectively. Revenue increased 16.7% to a record $486.9 million, while adj. EBITDA rose 25.0% to $110.9 million, exceeding our $101.6 million estimate. Adj. EBITDA margin expanded 150 basis points to 22.8%. Metal Coatings revenue increased 22.9% to $233.5 million, while Precoat Metals revenue rose 11.5% to $253.4 million. Segment adj. EBITDA margins were 30.7% and 21.2%, respectively.

FY 2027 Corporate Guidance Raised. Reflecting strong performance and sustained sales momentum, management raised FY 2027 revenue guidance to $1.825–$1.875 billion from $1.800–$1.850 billion. Adj. EBITDA guidance increased to $380–$420 million from $375–$415 million, while adj. EPS guidance rose to $7.00–$7.30 from $6.75–$7.15. The revised outlook reflects contributions from the new Washington, Missouri facility, improved operations, and lower interest expense. Capital expenditures are expected to total $80–$100 million, with debt reduction of $100–$140 million.


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Aurania Resources (AUIAF) – Drilling Completed at Thor’s Valley; Assays Expected in November

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Wednesday, October 14, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2026 drilling program completed. Aurania completed eight diamond drill holes totaling 780.7 meters at its Thor’s Valley gold-silver project in Iceland, compared with six holes originally planned. The program included six holes twinning historical drilling, one drilled in the same direction as a historical hole but at a different inclination, and a step-out hole 50 meters northwest of the historic area. The program was intended to confirm historical results and assess the continuity and extent of mineralization. Assay results are expected in November 2026.

Core recovery improves geological confidence. Aurania achieved nearly 100% core recovery in most holes, compared with approximately 50% or less historically. Using HQ3 diamond drilling, the company recovered fragmented, clay rich vein material frequently lost during earlier programs. More representative samples should improve the assessment of historical gold grades and mineralized widths.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Critical Minerals Race Fuels Mining Deals as Companies Move to Secure Copper and Rare Earth Supplies

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The global race to secure critical minerals is driving renewed merger and acquisition activity across the mining industry, as companies seek greater control over copper, rare earth elements, and other strategically important resources. Growing demand from electrification, artificial intelligence infrastructure, and defense manufacturing is encouraging producers to pursue acquisitions, strategic partnerships, and long-term supply agreements.

For small-cap and microcap mining companies, these developments could create opportunities to attract investment, advance exploration projects, and establish relationships with larger industry participants.

Recent transactions involving copper exploration assets and rare earth supply agreements highlight the increasing importance of securing access to future mineral production.

Copper remains central to global electrification, with applications spanning electric vehicles, renewable energy systems, power transmission networks, and data centers.

As electricity demand increases, mining companies are looking to expand their resource portfolios. However, developing new copper mines can require substantial investment and years of exploration, permitting, and construction.

Acquiring existing exploration assets or partnering with junior miners can offer established producers an alternative route to securing future supplies.

Kodiak Copper (KDKCF) provides an example of activity within the junior copper sector. The company is advancing its MPD copper-gold project in British Columbia, where its 2026 exploration program includes drilling intended to expand existing mineral resources and evaluate additional targets.

Kodiak has also pursued a proposed transaction involving its Mohave copper project in Arizona and assets contributed by Teck Resources, illustrating how junior miners can participate in broader asset consolidation strategies.

Another company operating in the sector is Power Metallic Mines (PNPNF), which is advancing polymetallic exploration projects in Quebec with exposure to copper and other metals important to industrial supply chains.

Beyond copper, rare earth elements have become increasingly important because of their use in electric motors, wind turbines, and advanced defense technologies.

Recent activity involving Arafura Rare Earths and commodity trader Traxys underscores the importance of long-term offtake agreements in securing future supplies.

These arrangements can provide mining developers with commercial visibility while helping industrial customers reduce exposure to concentrated global supply chains.

The broader critical minerals landscape also includes materials used in batteries and energy storage.

First Phosphate (PHOS) is focused on phosphate resources in Quebec, a material relevant to lithium iron phosphate battery chemistry. Meanwhile, Century Lithium (CYDVF) is developing its Angel Island lithium project in Nevada, positioning it within the North American battery materials supply chain.

Although these companies operate in different commodity markets, their projects illustrate the range of resources attracting strategic interest as governments and manufacturers prioritize domestic and diversified supply networks.

For junior mining investors, increasing acquisition activity could provide additional opportunities for companies with attractive deposits, favorable jurisdictions, and credible development plans.

However, stronger demand for critical minerals does not automatically translate into profitable projects.

Investors should evaluate resource quality, project economics, financing requirements, permitting risks, and potential shareholder dilution.

Strategic equity investments, joint ventures, government funding commitments, and binding offtake agreements may offer important indications of commercial interest.

As competition for critical minerals intensifies, securing reliable access to future production is becoming an increasingly important priority.

For small-cap mining companies, this environment could support additional partnerships and consolidation activity, making critical minerals a sector worth watching through the remainder of 2026 and beyond.

Big Pharma’s Patent Cliff Could Spark a New Wave of Small-Cap Biotech Acquisitions

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Major pharmaceutical companies are approaching a significant patent cliff that could accelerate mergers and acquisitions across the biotechnology sector. With an estimated $300 billion to $400 billion in pharmaceutical revenue facing patent-related pressure beginning in 2028, large drugmakers are looking for ways to replenish their pipelines and offset potential losses from expiring blockbuster drug patents.

For small-cap biotechnology companies, this shift could create new opportunities through acquisitions, licensing agreements, and strategic partnerships. Companies developing innovative treatments in oncology, gene therapy, and immunology may benefit from increased industry interest as major pharmaceutical manufacturers search for their next generation of revenue-producing therapies.

What Is the Big Pharma Patent Cliff?

The pharmaceutical patent cliff refers to the expiration of patent protection or market exclusivity on major branded medications. Once these protections expire, generic drugs and biosimilars can enter the market, potentially reducing sales of previously protected products.

For pharmaceutical companies that rely heavily on blockbuster medications, the resulting revenue pressure can be substantial. Replacing that revenue often requires years of research, clinical development, and regulatory approvals.

As a result, major drugmakers may increasingly look beyond their internal research programs to acquire or partner with smaller biotechnology companies developing promising treatments.

Why Patent Expirations Could Drive Biotech Mergers and Acquisitions

Acquiring smaller biotechnology companies can provide large pharmaceutical manufacturers with access to innovative drug candidates, specialized technologies, and established clinical development programs.

Rather than developing every new treatment internally, pharmaceutical companies can pursue acquisitions, licensing agreements, or strategic partnerships to expand their pipelines.

Oncology, immunology, rare diseases, and other specialized therapeutic areas remain important areas of strategic interest.

For small-cap biotech companies, these relationships can provide access to capital and development resources. However, the potential for acquisition interest depends on factors such as clinical results, intellectual property protection, regulatory progress, and the strategic priorities of prospective partners.

Small-Cap Biotech Companies Advancing New Treatments

Several emerging biotechnology companies are developing treatments in therapeutic areas relevant to the pharmaceutical industry’s long-term growth strategies.

Cardiff Oncology (CRDF): Advancing Onvansertib for Colorectal Cancer

Cardiff Oncology (NASDAQ: CRDF) is developing onvansertib, a PLK1 inhibitor being studied in combination with standard therapies for metastatic colorectal cancer.

The company has reported encouraging Phase 2 clinical results and outlined plans for a registrational trial, subject to additional financing.

Cardiff Oncology’s development program illustrates the type of clinical-stage innovation occurring within the small-cap biotechnology sector, particularly in oncology, where companies continue to investigate new approaches to treating difficult cancers.

Ocugen (OCGN): Gene Therapy and Strategic Licensing Opportunities

Ocugen (NASDAQ: OCGN) is developing gene therapies targeting inherited retinal diseases.

The company has pursued regional licensing opportunities as part of its broader development strategy, demonstrating how smaller biotechnology firms can seek additional resources while retaining certain commercial rights.

Licensing agreements can provide an alternative to outright acquisitions, allowing pharmaceutical partners to access emerging technologies without assuming the full cost of developing or purchasing a company.

Eledon Pharmaceuticals (ELDN): Immunology and Kidney Transplant Research

Eledon Pharmaceuticals (NASDAQ: ELDN) is advancing treatments involving immune modulation, including tegoprubart, an investigational therapy being studied in kidney transplantation.

Its development program reflects ongoing innovation in immunology and transplantation, therapeutic areas where unmet medical needs continue to drive research.

Cardiff Oncology, Ocugen, and Eledon represent different approaches to drug development. Their inclusion illustrates the diversity of clinical-stage innovation within the small-cap biotechnology sector and does not imply that acquisition discussions involving these companies are underway.

What Should Small-Cap Biotech Investors Watch?

Although the pharmaceutical patent cliff may encourage additional dealmaking, acquisition potential alone should not determine how investors evaluate biotechnology companies.

Clinical progress remains a critical consideration, particularly for companies that have not yet generated meaningful commercial revenue.

Investors following the sector should pay attention to several developments:

  • Clinical trial results: Positive data can strengthen a company’s development outlook, while disappointing results can create significant setbacks.
  • Regulatory milestones: Progress toward pivotal trials and potential approvals can influence a company’s prospects.
  • Cash reserves and financing: Many clinical-stage biotechnology companies depend on external capital to fund research and development.
  • Intellectual property: Patent protection and other exclusivity rights can influence the commercial value of emerging therapies.
  • Licensing and partnership announcements: Strategic agreements may provide financing, development support, or commercial opportunities.

Investors should also distinguish between acquisitions and licensing arrangements. Pharmaceutical companies may choose partnerships that provide access to promising treatments without taking on the full financial and operational responsibilities of an acquisition.

Could the Patent Cliff Accelerate Biotech M&A Activity?

Following a slowdown in biotechnology dealmaking over the summer, industry observers anticipate renewed acquisition interest as pharmaceutical companies prepare for upcoming patent expirations.

For the small-cap biotechnology sector, increased dealmaking could have implications beyond individual takeover transactions.

Strategic acquisitions and partnerships may establish valuation benchmarks for emerging therapeutic platforms, create financing opportunities, and influence investor sentiment across the industry.

However, these potential benefits remain dependent on clinical success, market conditions, and the willingness of larger pharmaceutical companies to pursue transactions.

As major drugmakers prepare for substantial patent-related revenue pressure, smaller biotechnology companies developing innovative treatments could play an increasingly important role in the industry’s long-term growth strategy.

The $4 Gallon Is No Longer a Shock. It’s the New Baseline.

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By Wednesday, American drivers are expected to log more days above $4 a gallon in a single year than in any year on record, surpassing a mark set in 2022. That is the forecast of Patrick De Haan, head of petroleum analysis at GasBuddy, and the numbers support it.

AAA puts the national average for regular gasoline at $4.35 a gallon, about $1.27 higher than a year ago and still shy of the May peak above $4.50. Diesel sits at $6.25. Prices have drifted down a few cents over the past month, which is hardly comfort when the starting point is this high.

What stands out is not the peak but the persistence. A price spike is a shock; a price that stays elevated for months becomes a baseline. Households stop treating $4 gas as an emergency and start budgeting around it, which means cutting somewhere else. That quiet adjustment is how fuel costs feed into broader economic weakness, and it helps explain why consumers have grown so frustrated with the cost of living. The University of Michigan’s October sentiment survey fell to a five-month low, and gas prices that have held above $4 since mid-summer are part of that story.

The supply picture offers little relief. Crude rose Monday after deadly attacks in the Middle East and fresh doubts about a proposed Russia-Ukraine energy ceasefire, with Brent near $106 a barrel and West Texas Intermediate around $93. At home, Hurricane Isaias knocked two major Gulf Coast refineries offline, and the full extent of the damage is still being assessed. Refiners make diesel and heating oil from the same crude supply, so a disruption in one product can pull the others higher, just as winter demand arrives. Gasoline futures are up more than 86% this year and heating oil futures more than 124%.

Diesel deserves more attention than it gets. It moves the farm equipment, trucks, and delivery vans that carry nearly everything people buy, so higher diesel costs eventually show up on shelves and invoices. Drivers see the gasoline price on a sign; they don’t see the diesel surcharge folded into their groceries.

The pain is not evenly shared. Producers are positioned to benefit. InPlay Oil Corp. (IPOOF), an Alberta light oil producer covered by Noble Capital Markets research, reported record quarterly adjusted funds flow of $44.7 million in the second quarter, citing high oil prices, and raised its 2026 guidance. The company also reported production of 18,663 barrels of oil equivalent per day, about 62% light oil and natural gas liquids, and agreed to a $54.25 million acquisition after quarter end. Those figures are company-reported. Transportation and logistics businesses, along with lower-income households that spend a larger share of their budgets on fuel, face the opposite side of the trade.

Three things will decide how long this lasts: how quickly the damaged refineries come back, whether Middle East tensions and the Russia-Ukraine ceasefire push crude higher, and how tight distillate supply gets as temperatures fall. If those break the wrong way, the $4 gallon will remain a feature of the economy rather than a talking point, and the consumer will keep feeling it.

IonQ to Acquire Zero Trust Security Firm Elisity in Deal Valued at Up to $1.3 Billion

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IonQ (NYSE: IONQ) announced on Oct. 12 that it has agreed to acquire Elisity, a Zero Trust cybersecurity company, in an all-stock transaction valued at up to $1.3 billion. The deal pairs IonQ’s post-quantum cryptography (PQC) and quantum key distribution (QKD) technology with Elisity’s enterprise network security platform, and it extends IonQ’s push beyond quantum computing into security.

Founded in 2019, Elisity helps organizations apply Zero Trust principles to users, devices, workloads, AI agents, and other non-human identities. Its IdentityGraph product pulls together identity, asset, and risk data to set least-privilege access policies, letting teams simulate a policy before enforcing it and restrict each identity to only the communications it needs. IonQ says Elisity has more than 100 customer deployments, including a growing number of Fortune 500 companies, and has roughly doubled both revenue and customers year over year with no churn among deployed customers. IonQ also points to the microsegmentation market, which it sizes at more than $10 billion with double-digit annual growth.

IonQ is pitching a single security stack for two problems: attacks happening now, including those involving AI agents, and the longer-term risk that quantum computers eventually break today’s encryption. The companies plan to extend IdentityGraph with cryptographic inventory and risk information. IonQ CEO Niccolo de Masi said “Q-Day” is arriving faster than predicted, and compared the deal to IonQ’s earlier SkyWater Technology acquisition, which added chip design and fabrication capabilities. The announcement also cites a June 22, 2026 White House executive order and other federal directives pushing agencies toward PQC migration.

IonQ says its quantum-safe communications networks are already deployed in Switzerland, Poland, Romania, and Slovakia, and that multiproduct revenue grew 40% year over year in the second quarter of 2026. Elisity’s customer base and CISO relationships would give IonQ new channels to sell PQC, QKD, and quantum computing to enterprise and government buyers.

The transaction includes up to $150 million in earnout payments tied to Elisity’s performance. The number of IonQ shares issued will be set at closing using the 20-day volume-weighted average price before closing, with the price floored at $33.07 and capped at $49.61 per share. The deal is expected to close in the fourth quarter of 2026, subject to customary conditions including regulatory approval. Elisity will continue operating under its current leadership, including CEO James Winebrenner.

Closing risk, customer and employee retention, and integration are the main variables, all flagged in IonQ’s own forward-looking statements. Investors should also watch whether IonQ can turn the cross-sell story into reported revenue, and how the share issuance affects dilution given the price collar.

Consumer Sentiment Slides to a Five-Month Low as Cost-of-Living Frustration Builds

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American households are growing more pessimistic about the economy. The University of Michigan’s preliminary October consumer sentiment index fell to 46.3, down from 48.1 in September and below the 47.3 reading economists had expected. It marks the weakest level in five months and underscores how persistently high prices are shaping the mood of the American consumer.

Cost of living is the common thread

Survey director Joanne Hsu said frustration over the cost of living keeps building, and that consumers across the political spectrum believe the economy has lost ground since the start of the year. With midterm elections 25 days away, sentiment improved among both Democrats and Republicans, but a decline among independents more than offset those gains.

The pain is uneven. Lower-income households and those with smaller stock portfolios, the groups with the least cushion against rising prices, saw sentiment decline this month. That divide matters: a market rally does little for the families that don’t own much of the market.

Inflation expectations are moving the wrong way

Consumers now expect prices to rise 4.7% over the next year, up from 4.6% in September and well above the 3.4% recorded in February, when the Middle East conflict and the resulting energy shock began. Long-run expectations ticked up to 3.5% from 3.4%, and they have stayed above the 2.8%–3.2% range seen in 2024. Expectations matter because they can become self-reinforcing, influencing wage demands and pricing decisions.

Energy is a major driver. Gas prices are up more than $1.50 a gallon on average since the war began, according to AAA, and have held above $4 since mid-summer.

Borrowing costs add pressure

Rates are compounding the problem. The 10-year Treasury yield has climbed above 5%, with some analysts warning it could approach 6%, a level not seen since 2000. That flows directly into household borrowing: Freddie Mac reports the average 30-year fixed mortgage rate rose to 7.4% this week, a three-year high. Concerns about a national debt now above $40 trillion are also weighing on consumer views of buying conditions.

Why it matters for investors

Consumer spending drives roughly two-thirds of U.S. economic activity, so sentiment readings are worth watching. A weak mood combined with elevated inflation expectations leaves the Federal Reserve in a difficult spot: easing is harder to justify when households expect higher prices, but tighter financial conditions risk squeezing the consumer further. Retail, housing-related, and consumer discretionary names are the most exposed if sentiment keeps deteriorating and spending follows.

What to watch next

The October figure is preliminary, and the final reading is due later this month. Investors should watch whether sentiment stabilizes or keeps sliding, whether year-ahead inflation expectations push further above 4.7%, and how the 10-year yield behaves as it flirts with higher levels. Gas prices and mortgage rates will also be telling: if they ease, the pressure on households could lift; if they keep climbing, the sentiment gap between higher- and lower-income consumers may widen further.

Xcel Brands (XELB) – Performance-Based Partnership Could Accelerate Royalty Growth

Posted on by [email protected]


Friday, October 09, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

George Proost, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

An important evolution of the creator-commerce model. Xcel Brands announced a partnership with Paradium.AI to launch PetHelpful x Trust·Respect·Love by Cesar Millan, combining Parade’s extensive digital publishing network with Cesar Millan’s global recognition and authentic content. We believe the collaboration marks an important evolution in Xcel’s strategy, leveraging AI-powered content to convert strong consumer awareness into retail sales.

A compelling performance-based marketing model. Paradium.AI commits significant marketing resources through its media platforms to participating retailers at no cost, while Paradium.AI, Cesar Millan, and Xcel share performance-based royalties. We believe this creates an attractive proposition for retailers by providing substantial promotional support while aligning all parties’ interests around generating sales.


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Resources Connection (RGP) – Pricing Holds as the Recovery Remains Elusive

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Friday, October 09, 2026

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Overview. Resources Connection’s first-quarter results were within management’s revenue and gross margin outlook, while lower operating expenses helped profitability exceed our July projections. However, the Company has yet to demonstrate sustained revenue improvement. We believe pricing discipline and ongoing cost actions provide a foundation for recovery, but weak consultant utilization and recent cash consumption leave less room for an extended turnaround.

1Q27 Results. Revenue was $98.1 million compared to $120.2 million in 1Q26 and our $100 million estimate. Adjusted EBITDA was a loss of $3.6 million compared to $3.1 million in 1Q26 and our projected $5.5 million loss. Adjusted net loss was $0.16/sh. versus EPS of $0.03 in 1Q26 and our $0.22/sh. loss estimate. The earnings improvement relative to our forecast is encouraging, although it does not change the need for higher billable activity.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Alliance Resource Partners (ARLP) – Coal Operations Anchor Cash Flow as Oil and Gas Royalties Expand

Posted on by [email protected]


Friday, October 09, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Coal fundamentals support a constructive outlook. Alliance Resource Partners is the second-largest coal producer in the eastern United States and benefits from a competitive cost structure and strong earnings visibility based on contracted sales. More than 99% of expected 2026 coal volumes are committed and priced, while approximately 85% of anticipated 2027 volumes are contracted. Growing electricity demand and a more supportive regulatory environment could extend coal-fired power plant lives and strengthen demand for thermal coal.

Royalties strengthen the growth profile. Alliance continues to expand its high-margin oil and gas royalty business, supported by more than $1 billion invested in mineral interests. The recent $206.2 million AllDale acquisition expanded its portfolio to approximately 115,680 net royalty acres, including more than 44,770 acres in the Permian Basin. We expect royalties to contribute increasingly to earnings and cash flow without the capital requirements of operated properties.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

FCC Clears SpaceX to Launch 15,000 Direct-to-Phone Satellites, Putting Wireless Carriers on Notice

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The FCC approved SpaceX on Wednesday, Oct. 7, to launch and operate up to 15,000 next-generation Starlink Mobile satellites that connect directly to ordinary smartphones. SpaceX has about 650 mobile satellites in orbit today. Elon Musk said on X that the new V2 constellation will deliver more than 100 times the bandwidth of the current system.

The company says the upgraded network will deliver 5G speeds of up to 150 Mbps per user, using spectrum from T-Mobile and airwaves SpaceX purchased from EchoStar. That goes beyond patching dead zones: it is a bid to offer real mobile broadband from space.

Existing rules assumed satellite operators would lease spectrum from a terrestrial carrier, which made carriers the gatekeepers. Because SpaceX now owns roughly 65 MHz of spectrum, acquired from EchoStar in two deals totaling about $19.6 billion, the FCC waived the leasing requirement, citing competition in retail wireless service. In practice, SpaceX can sell phone service without a carrier’s sign-off, which weakens the leverage of T-Mobile, its current direct-to-cell partner. SpaceX President Gwynne Shotwell added that the spectrum has terrestrial components and the company intends to build out on the ground as well.

The timeline is long. Launches are slated to begin in late 2027, and SpaceX cannot use the EchoStar spectrum commercially until the remaining part of that deal closes, expected by Nov. 30, 2027. Half the constellation must be in orbit by Oct. 7, 2032, and the full network by Oct. 7, 2035.

Capacity is also a question. Moving from about 650 to 15,000 satellites is roughly a 23-fold increase, so a 100x bandwidth gain implies each satellite carries about four times today’s load. But 150 Mbps is a peak figure, and satellite beams share capacity across wide areas. How the network performs under heavy demand in dense cities remains unproven. That points to rural and roaming customers as the first to feel competitive pressure.

AT&T, Verizon, and T-Mobile formed a satellite-to-phone joint venture on Oct. 2, but it still needs another company’s satellites. Verizon’s and AT&T’s current satellite arrangements rely on AST SpaceMobile, whose network is not yet built. AST shares fell about 4% on the news. AT&T may be the most exposed: revenue was $126 billion in fiscal 2025, down from $134 billion in 2021, so even modest rural losses would show.

The approval came from an FCC bureau rather than the full commission, so it could be reviewed. On Oct. 29, the FCC votes on auctioning 25 MHz of spectrum for direct-to-device service, and a carrier win there would narrow SpaceX’s lead. Investors should also watch whether launches begin on schedule in late 2027. Analysts project SpaceX revenue rising from $45.1 billion in fiscal 2026 to $200 billion in fiscal 2028.