KANSAS CITY, Mo. — Lionel Messi trained individually during Argentina’s first session at their U.S. training camp as the 38-year-old captain continues recovering from left hamstring muscle fatigue, though team officials expect the superstar to be available for the World Cup opener against Algeria.

The Argentine Football Association confirmed Messi worked apart from the main group Monday at the Kansas City base as part of a cautious recovery protocol. The forward has been managing the issue since late May, prompting the individualized program to ensure full fitness ahead of the June 16 group-stage match.

Manager Lionel Scaloni expressed measured optimism as the reigning champions began preparations on American soil. Medical staff project Messi will rejoin full training in coming days, positioning him to lead the Albiceleste in their title defense. The eight-time Ballon d’Or winner remains central to Argentina’s hopes despite his advancing age.

Multiple Injury Concerns Test Depth

Argentina’s medical department is monitoring several players dealing with various ailments. Goalkeeper Emiliano “Dibu” Martínez, midfielders Nico Paz, Leandro Paredes, Nico González and Thiago Almada, plus defenders Gonzalo Montiel and Nahuel Molina trained separately under physiotherapy supervision. The AFA described their progress as satisfactory, with targeted rehabilitation aimed at building stability before competitive action.

The cluster of injuries adds complexity to Scaloni’s preparations. Argentina faces a demanding schedule, including warm-up friendlies against Honduras on Saturday and Iceland on June 9 in Auburn, Alabama. The team will then open World Cup play in Kansas City against Algeria, followed by matches versus Austria and Jordan.

Positive developments provided balance. Tottenham Hotspur defender Cristian “Cuti” Romero returned to full training after recovering from a right knee ligament sprain. Atletico Madrid forward Julian Alvarez also participated in the main session, marking his return after an ankle sprain sustained May 5. Both players received medical clearance, boosting Scaloni’s tactical options.

Messi’s Enduring Importance

At 38, Messi continues defying typical career timelines. His club form with Inter Miami this season showed flashes of brilliance despite occasional physical setbacks. The hamstring fatigue prompted a conservative approach upon joining the national team, prioritizing long-term availability over immediate full participation.

Argentina’s reliance on Messi extends beyond his technical brilliance. His leadership and experience anchoring the attack remain vital for a squad blending veterans and emerging talents. Scaloni has built the team around Messi’s creativity, and his potential absence, even temporary, would force tactical adjustments.

The U.S.-based camp has drawn significant local and international attention. Security measures and media presence reflect the high stakes as defending champions. Public interest in Messi’s condition dominated early discussions, underscoring his global stature even as younger players step forward.

Squad Building and Tactical Outlook

Scaloni has emphasized squad depth throughout the buildup. The returns of Romero and Alvarez strengthen defensive solidity and attacking threat respectively. Romero’s aerial prowess and Alvarez’s movement provide balance, particularly important against Algeria’s organized defense in the opener.

The friendly against Honduras offers an early test of cohesion. The match will allow evaluation of combinations without risking key players still regaining match sharpness. The subsequent Iceland fixture serves as final preparation before the tournament proper.

Group stage opponents present varied challenges. Algeria brings North African intensity and counter-attacking speed. Austria offers European tactical discipline, while Jordan represents an unpredictable wildcard. Argentina enters as favorites but recognizes the need for full fitness across the roster.

Historical Context and Expectations

Argentina captured the 2022 World Cup in Qatar, ending a 36-year drought with Messi at the forefront. That triumph, sealed in a dramatic final against France, elevated the squad’s status and Messi’s legacy. The current campaign represents an opportunity for back-to-back titles, a feat last achieved by Brazil in 1962.

Injuries have tested the squad before. Similar precautionary management occurred ahead of Copa America campaigns, where Messi ultimately delivered. The current situation echoes that approach — careful progression rather than rushed returns.

The broader national team picture includes integration of younger talents. Players like Nico Paz and Thiago Almada represent the future, gaining valuable experience even while managing minor issues. Their development alongside established stars strengthens long-term prospects.

Camp Logistics and External Factors

Hosting the camp in the United States aligns with the tournament’s North American venues. Kansas City’s facilities provide modern training grounds and recovery resources ideal for addressing fitness concerns. Local support has been enthusiastic, reflecting soccer’s growing footprint in the region.

Travel and acclimatization add layers to preparation. Players arriving from European and South American clubs must adjust to time zones and climate. Medical staff monitor workload closely to prevent exacerbating existing conditions.

Public discourse around Messi’s fitness highlights the intense scrutiny on star athletes. Social media and traditional outlets have amplified every training detail, creating a constant feedback loop. The AFA’s transparent updates help manage expectations while protecting player privacy.

Path Forward for Argentina

As the World Cup approaches, focus remains on gradual reintegration. Messi’s individualized sessions allow monitoring without pressure. Full participation in later friendlies would signal readiness for the tournament’s rigors.

Scaloni’s experience navigating injury situations provides reassurance. His calm demeanor and strategic flexibility have defined successful campaigns. The manager will balance short-term caution with the need to build chemistry before June 16.

For fans worldwide, the narrative centers on whether Messi can deliver one more transcendent performance on the global stage. His presence elevates Argentina’s ceiling, but the squad’s depth offers resilience if any absences persist.

The coming days will clarify timelines. Training updates, friendly performances and final squad selections will shape perceptions. Argentina enters the tournament with champion pedigree and elite talent, tempered by the realities of physical management at the highest level.

With the opening match weeks away, the priority is clear: arrive healthy, unified and prepared to defend the crown. Messi’s careful progression forms the cornerstone of that effort, supported by returning teammates and a structured recovery environment.

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PetMed Express, Inc. (PETS) Q4 2026 Earnings Call June 2, 2026 4:30 PM EDT

Company Participants

Leslie C. Campbell – Executive Chairman of the Board, Interim CEO & President
Douglas Krulik – Chief Accounting Officer, Principal Acc. Off., Interim Principal Financial Officer & Treasurer

Conference Call Participants

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Reed Anderson – ICR Inc.

Presentation

Operator

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Greetings, and welcome to the PetMed Express Fiscal Fourth Quarter 2026 Financial Results Conference Call. [Operator Instructions] It’s now my pleasure to introduce your host, Reed Anderson with ICR. Thank you, you may now begin.

Reed Anderson
ICR Inc.

Thank you, and welcome to the PetMed Express Fiscal Fourth Quarter 2026 Earnings Conference Call. With us on the call today are Leslie Campbell, PetMed’s Chairman, Interim CEO and President; and Doug Krulik, Interim Principal Financial Officer and Chief Accounting Officer.

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Certain information included during this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934 as amended that may involve a number of risks and uncertainties. These statements are based on our beliefs as well as assumptions we have used based upon information currently available to us. Because these statements reflect our current views concerning future events, these statements involve risks, uncertainties and assumptions. Actual results could differ materially from those projected. There can be no assurance that any forward-looking results will occur or be realized, and nothing contained in this presentation is or should be relied upon as a representation or warranty as to any future matter, including any matter in respect of the operations or business or financial condition of PetMeds.

PetMeds undertakes no obligation to update publicly these forward-looking statements based on subsequent events, except as may be required by applicable law, regulation or other competent legal authority. We have identified

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The S&P 500 and the Dow closed modestly higher ​on Tuesday as risk appetite driven by AI fervor was counterbalanced by tensions arising from U.S.-Iran talks to reopen the Strait of Hormuz and end the months-long war.

Gains in most of the 11 major S&P sectors kept the S&P 500 and the Dow in the green, with the small-cap Russell 2000 outperforming its larger-cap peers. The Nasdaq ‌ended the session essentially unchanged.

Small-cap ⁠stocks have ⁠been some of the biggest beneficiaries of the ongoing enthusiasm surrounding artificial intelligence stocks, which provided some upside muscle. The Philadelphia SE Semiconductor Index advanced on the day.

The Software & Services Index, ​battered in recent months over worries of AI disruption, closed in negative territory.

Strong results from Hewlett Packard Enterprise and a funding commitment from Alphabet reinforced confidence in the ​AI buildout.

“The market is kind of muted at the surface level, but there is a lot going on under the hood, and that describes much of this year,” said Mike Dickson, head of portfolio management at Horizon Investments in Charlotte, North Carolina. “There’s some massive dispersion in the whole AI infrastructure ​ecosystem.”
“Markets could be in for one of these heated, melt-up rallies where the momentum keeps ⁠winning,” Dickson ‌added. “I would not be surprised at all to be sitting here at the end of the summer a good bit ​higher.”Tehran is studying a ​U.S. proposal to bring the war to a halt, but has not been in contact with Washington ⁠for days, according to Iranian media, which also said Iran is taking a “stern” approach, given ​what it views as a history of U.S. noncompliance and mutual distrust. Simultaneously, Israel is continuing its ​strikes on Lebanon, despite Tehran’s warnings that the attacks are threatening to derail the fragile truce.

The war has sent crude prices soaring, reviving worries over inflation and giving rise to an increasing likelihood that the U.S. Federal Reserve could hike interest rates by year-end. Cleveland Fed President Beth Hammack said on Tuesday that such a hike could become necessary if already-elevated inflation pressures continue to mount. On the economic front, a report from the Labor Department showed an unexpected spike in job openings, driven by the volatile professional and business services sector. Otherwise, hiring, firing and quits all decreased, suggesting a slowdown ‌in labor market churn in the face of uncertainties related to strife in the Middle East and inflationary effects.

Analysts look to the May employment report due on Friday, which is expected to show the U.S. economy added 85,000 jobs last ​month, a monthly deceleration ​of 26.1%. The unemployment rate is forecast ⁠to stand pat at 4.3%.

According to preliminary data, the S&P 500 gained 10.07 points, or 0.13%, to end at 7,610.03 points, while the Nasdaq Composite gained 8.78 points, or 0.03%, to 27,095.59. The Dow Jones Industrial Average rose 237.13 points, or 0.46%, to 51,316.01.

Hewlett Packard Enterprise jumped after ​the AI server maker pulled forward its long-term financial targets by two years. In further evidence of AI buildout, Alphabet said it was looking to raise $80 billion in equity offerings, including an investment from Berkshire Hathaway, to fund a costly expansion of its AI infrastructure. Its shares lost ground on the day. Marvell Technology’s shares surged after Nvidia Chief Executive Officer Jensen Huang called the chipmaker the next “trillion-dollar company” at the Computex conference in Taipei. Nvidia invested $2 billion in Marvell in March.

A drop in bitcoin hit cryptocurrency firms Coinbase and Strategy Inc.

Broadcom is expected to report quarterly results on Wednesday.

LISBON — Cristiano Ronaldo posted images from Portugal’s first training session of the 2026 World Cup cycle on Tuesday, signaling the start of preparations for what would be his record sixth appearance at the tournament as the 41-year-old captain seeks the one major trophy still missing from his illustrious career.

The Al Nassr forward appeared energized during drills at the Portuguese Football Federation’s facilities in Oeiras, sharing photos that captured the squad’s early sessions under coach Roberto Martínez. Portugal, reigning UEFA Nations League champions, opened their World Cup campaign in Group K on June 17 against the Democratic Republic of Congo in Houston.

Ronaldo’s participation marks the beginning of a high-stakes buildup for a squad blending established stars with emerging talent. Having recently led Al Nassr to the Saudi Pro League title with two goals in a season-ending victory, the five-time Ballon d’Or winner arrives in strong club form as he targets football’s ultimate prize.

Squad Depth and Key Returns

The full Portugal squad features a mix of Premier League standouts and players from top European clubs. Goalkeepers include Diogo Costa of Porto, José Sá of Wolverhampton and Rui Silva of Sporting CP. The defensive line boasts Ruben Dias and João Cancelo alongside younger options like Nuno Mendes and Gonçalo Inácio.

Midfield creativity centers on Bruno Fernandes, Bernardo Silva and Vitinha, while the attack includes João Félix, Rafael Leão, Pedro Neto and Gonçalo Ramos supporting Ronaldo. Several players were still expected to join the camp in coming days, with the squad set to reach full strength by early June.

Martínez, who has guided the team since 2023, emphasized cohesion in the opening sessions. Early training focused on tactical alignment and fitness assessments as the team prepares for friendlies and the demanding group stage. Portugal’s training base in the United States, reportedly in the Palm Beach Gardens area of Florida, will provide familiar conditions ahead of matches in Houston and Miami.

Group Stage Challenges

Portugal faces a competitive Group K. After opening against DR Congo on June 17 at NRG Stadium in Houston, they meet Uzbekistan on June 23 at the same venue before concluding the group against Colombia on June 27 at Hard Rock Stadium in Miami. The schedule requires careful management of travel and recovery across Texas and Florida.

Analysts view Portugal as favorites to advance, but Colombia’s attacking flair and the physicality of African and Asian representatives present tests. Ronaldo’s experience will be crucial in navigating these matchups, particularly in high-pressure environments.

Historic Pursuit at Age 41

Ronaldo made his World Cup debut in 2006 as a 21-year-old. Now 41, he prepares for a sixth appearance, surpassing previous records. His longevity remains remarkable, with consistent club output in Saudi Arabia demonstrating sustained elite performance despite the physical demands.

The forward has scored in every major international tournament he has entered. Portugal’s best World Cup result came with a third-place finish in 1966. Reaching the semifinals or better in 2026 would represent a significant achievement for this generation.

Ronaldo has spoken previously about his drive for the World Cup, viewing it as the pinnacle. His leadership extends beyond goals, influencing younger teammates through work ethic and tactical awareness observed in early camp sessions.

Broader Team Context

Portugal enters the tournament with momentum from Nations League success. The squad benefits from a blend of experience and youth, with players like João Neves and Francisco Conceição adding dynamism. Injuries have been minimal in recent windows, though fitness monitoring remains key at this stage.

The coaching staff’s strategy likely revolves around structured possession, quick transitions and set-piece prowess — areas where Ronaldo has historically excelled. Martínez has rotated personnel effectively, ensuring depth across positions.

Preparations include friendlies that will test combinations before the tournament opener. The U.S.-based camp allows acclimatization to heat and travel conditions expected during the expanded 48-team competition running from June 11 to July 19 across North America.

Fan and Media Attention

Ronaldo’s Instagram posts generated immediate global engagement, reflecting his enduring popularity. Supporters expressed optimism about Portugal’s chances, with many highlighting the “last dance” narrative surrounding the captain’s potential final World Cup.

Media coverage has focused on Ronaldo’s fitness and leadership role. Observers note his influence on squad morale, particularly as younger players look to him for guidance in a high-stakes environment.

The tournament’s scale, with matches across three host nations, adds logistical complexity. Portugal’s group placement offers a balanced path, though advancement to the knockout rounds will require consistent performances.

Legacy and Future Outlook

For Ronaldo, the 2026 World Cup represents a chance to cap a career that includes Champions League titles, league championships across multiple countries and individual accolades. Portugal’s golden generation, featuring Fernandes, Silva and Dias, has delivered at the European level but seeks global validation.

As training progresses, attention will turn to tactical refinement and player integration. The squad’s depth provides flexibility, but execution in key moments will determine success. Ronaldo’s presence elevates expectations, yet collective effort remains essential.

The coming weeks will clarify Portugal’s readiness. With Ronaldo leading by example in the opening sessions, the team begins its journey toward potential World Cup glory. Fans worldwide will follow closely as the tournament draws near, eager to witness whether the veteran can deliver one final memorable chapter.

PITTSBURGH — Shares of Coherent Corp. jumped more than 17% in morning trading Tuesday, reaching $427.42 as investor enthusiasm for the photonics company’s critical role in artificial intelligence data center infrastructure continued to drive significant gains.

The sharp rise came on elevated volume, reflecting broad optimism around Coherent’s positioning in high-speed optical connectivity solutions essential for AI training and inference workloads. The company has emerged as a key beneficiary of hyperscaler spending on advanced transceivers and silicon photonics technology.

As of 11:19 a.m. EDT, Coherent shares had climbed $64.52, or 17.78%, on the New York Stock Exchange. The move pushed the company’s market capitalization above $83 billion, extending a remarkable rally that has seen the stock more than quadruple over the past year amid the AI boom.

AI-Driven Growth Accelerates

Coherent’s surge builds on robust fiscal 2026 performance fueled by explosive demand in its Datacenter & Communications segment. In the fiscal third quarter ended March 2026, the company reported revenue of $1.81 billion, up 21% from the prior year, with the data center business contributing significantly through 800G and emerging 1.6T transceiver shipments.

The segment’s strength reflects Coherent’s ability to address the “connectivity bottleneck” in AI clusters, where faster optical links are required to support massive parallel computing. Book-to-bill ratios in data center products have exceeded 4x in recent quarters, signaling substantial backlog and future revenue visibility.

A landmark $2 billion strategic equity investment from NVIDIA in early 2026 has further validated the company’s technology. The partnership includes multi-year purchase commitments and collaboration on next-generation optics for AI data centers, enhancing Coherent’s competitive edge.

Recent Financial Highlights

Coherent has consistently beaten Wall Street expectations. Fiscal first-quarter 2026 results showed sales and earnings ahead of forecasts, with upbeat guidance for the second quarter projecting revenue between $1.56 billion and $1.7 billion. Non-GAAP earnings guidance also exceeded analyst estimates.

For the nine months ended March 2026, revenue reached $5.07 billion. Management highlighted accelerating growth as production capacity ramps, particularly in indium phosphide and silicon photonics platforms. Gross margins have shown sequential improvement, supported by vertical integration and higher-value AI products.

Analysts have responded positively. Several firms raised price targets following earnings and conference presentations, citing Coherent’s leadership in co-packaged optics and high-bandwidth solutions. The stock’s inclusion in the S&P 500 earlier in 2026 triggered additional buying from index-tracking funds.

Strategic Positioning in Photonics

Coherent develops and manufactures engineered materials, lasers and optoelectronic components used across industrial, communications and electronics markets. Its optical networking products have become vital for scaling AI infrastructure, where traditional copper connections fall short on speed and power efficiency.

The company has invested heavily in capacity expansion, including new facilities for advanced wafer production. These moves aim to reduce reliance on external suppliers and improve margins as demand outpaces supply in the AI sector.

Broader industry tailwinds, including commitments from major cloud providers to expand data center footprints, support the positive outlook. Coherent’s technology enables higher-density, lower-power optical interconnects critical for next-generation GPU clusters.

Market Context and Risks

The stock has shown remarkable volatility alongside other AI-related names. While year-to-date gains are substantial, the rapid appreciation has prompted valuation concerns among some observers. Forward price-to-earnings multiples remain elevated, reflecting high growth expectations.

Potential risks include execution on capacity ramps, competition in the optical components space and any slowdown in hyperscaler capital expenditure. Macroeconomic factors or shifts in AI investment timelines could also influence results.

Despite these considerations, most analysts maintain bullish stances. The consensus highlights Coherent’s differentiated technology and strong order momentum as reasons for sustained optimism.

Leadership and Operational Focus

Under CEO Jim Anderson, Coherent has sharpened its strategy around high-growth photonics markets. The company continues restructuring efforts to optimize its portfolio, including divestitures that strengthened the balance sheet. Cash reserves have grown, providing flexibility for further investments.

Tuesday’s trading activity suggests investors are pricing in continued strong performance into fiscal 2027. With the fourth quarter underway, attention will turn to upcoming updates on shipment ramps and new customer qualifications.

Broader AI Infrastructure Theme

Coherent’s performance mirrors the surge in related suppliers benefiting from AI expansion. As data centers evolve toward greater efficiency, optical solutions play an increasingly central role. The company’s innovations in silicon photonics position it at the forefront of this transition.

Market participants will monitor upcoming industry events and potential updates from major partners like NVIDIA for incremental signals. In the near term, technical levels and options activity will influence short-term price action.

Coherent’s story reflects the transformative impact of artificial intelligence on the semiconductor and components supply chain. As demand for faster, more efficient connectivity intensifies, the company appears well-placed to capture significant market share.

With shares trading near all-time highs, the focus remains on whether execution matches elevated expectations. Strong backlog and strategic partnerships provide a foundation, but sustained profitability growth will be key to justifying current valuations.

As the trading session progresses, any pullback could be viewed as a buying opportunity by long-term AI thematic investors. Coherent’s trajectory underscores the market’s appetite for companies directly enabling the AI revolution.

The brand was acquired last year by Neil Stephenson-backed Mira Marketing

Cycling clothing brand Attacus has received funding it says will help it to move faster in delivering new products and breaking into new markets.

The Newcastle-based firm, which is owned by Mira Marketing, has secured the backing of NPIF II – NEL Smaller Loans, which is managed by NEL Fund Manager. It comes nearly a year after Attacus was acquired by the Ouseburn-based marketing agency having been a client.

NEL has declined to make public the size of the loan, though sums from that fund are typically between £25,000 to £100,000. It says the funding will support the next stage of growth for Attacus, which focuses on performance, comfort and modern design – taking cues Italian manufacturing.

The funding will be used to expand the brand’s product range, increase stock depth across key lines, and accelerate marketing activity and brand development. It will also be used to boost ecommerce infrastructure, creative production, and international growth, particularly in key cycling markets across Europe and beyond.

Stuart Bramley, founder of Mira Marketing and owner of Attacus, said: “Working with NEL has been a really positive experience. They understand the ambition behind Attacus and have backed that with both investment and support that goes beyond just capital.

“This partnership gives us the confidence to move faster and make better long-term decisions – whether that’s in product development, brand positioning, or expanding into new markets. It’s a key step in building Attacus into a globally recognised cycling brand.”

Susan Snowdon, investment executive at NEL Fund Managers, added: “Neil Stephenson approached me during a Sunderland Platform event to discuss plans he and Stuart had after acquiring the brand, as well as the potential need for investment. With their combined expertise and vision, it was an exciting opportunity to be involved. I wish them all the best as they pursue their growth ambitions.”

Sarah Newbould, senior investment manager at the British Business Bank said: “Through the Northern Powerhouse Investment Fund II, we are committed to improving access to finance for innovative companies with strong growth potential and supporting ambitious businesses across the North to scale sustainably is central to our purpose. This investment will help Attacus build on its foundations and accelerate it next phase of development, both in the UK and internationally.”

The £660m Northern Powerhouse Investment Fund II is intended to drive economic growth by supporting businesses across the entire North of England. It provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.