Business
How Nike, Levi’s and Taco Bell are winning
General view of the exterior of San Francisco Bay Area Stadium ahead of the FIFA World Cup 2026 Group B match between Qatar and Switzerland on June 13, 2026 in Santa Clara, California.
Fran Santiago | Getty Images
As people around the world tune into this summer’s World Cup, some of the brands generating the most buzz aren’t even official sponsors of the tournament.
The list of official sponsors for this year’s World Cup, hosted in cities across the U.S., Canada and Mexico, include global household names like Adidas, Coca-Cola and Qatar Airways.
But even before the tournament began, the spotlight fell on companies like Levi Strauss & Co., Taco Bell and Texas-based convenience store chain Buc-ee’s. Some have garnered traction on social media for their creative marketing strategies, while others have benefited from organic customer response with the influx of international players and fans.
McDonald’s celebrated the tournament with limited-time menu items and cups. Taco Bell leaned into a new campaign to support fans in celebration or support depending on the outcome of a match.
According to marketing research firm WARC Media, advertising spending on this year’s World Cup tournament is expected to reach $10.5 billion. That’s just below spending for the 2018 World Cup, hosted by Russia, which totaled roughly $12.6 billion.
Market intelligence firm Sensor Tower told CNBC that World Cup advertising spend increased 42% week over week in the days leading up to the first game. The firm tracked that Taco Bell and Duracell have both increased their advertising spend in the past few weeks, though the top 10 World Cup advertisers by spend over the past three months have been sponsors or broadcast partners of the event.
According to market research firm Meltwater, in the ramp-up to the World Cup, non-sponsor brand collaborations generated nearly double the engagement of official sponsors, reaching roughly 61 million engagements versus just 33 million.
The firm told CNBC that while sponsored advertisements led in volume, distribution and creative quality helped propel non-sponsors to higher engagement, with the most social media engagement coming from TikTok.
Since the tournament began, non-sponsor brands have surpassed 57,000 mentions on social media versus just over 43,000 for official sponsors, the company said.
“A big takeaway from this World Cup is that you don’t need an official sponsorship to own the cultural moment anymore,” Meltwater CEO John Box told CNBC. “The brands that will win the next tournament aren’t necessarily the ones with the biggest budgets, but instead the ones who are set up to see what’s trending in real time, the creativity to connect it back to your brand, and the speed to act before the moment passes.”
World Cup results
Kylian Mbappé’s Nike soccer cleats during a French national team training session at Bentley University in Boston, Massachusetts, on June 20, 2026. The number 58 on the cleats represent the goals scored by Mbappé for the national team.
Johnny Fidelin | Icon Sport | Getty Images
According to Meltwater, Coca-Cola and Adidas accounted for half of all sponsor mentions in the buildup to the tournament. But in the final 11 days before the first match on June 11, McDonald’s became the clear winner, with engagement share rising from 2.6% to 23%.
Of the non-sponsors, Lego accounted for 82% of the top 50 most engaging non-sponsor posts across social media platforms, Meltwater said. The construction toy company’s World Cup campaign delivered 12 times the sponsor average in the days leading up to the tournament.
Nike, who is not an official tournament sponsor, saw its World Cup advertisement — featuring celebrities like Kim Kardashian, Travis Scott and Lebron James as well as scores of World Cup stars like Norway breakout Erling Haaland and Portugal captain Cristiano Ronaldo — rake in more than 70 million views on YouTube.
Sneaker rival Adidas counts roughly 7 million views for its advertisement featuring actor Timothée Chalamet, Argentina captain Lionel Messi and more.
That gap is indicative of the winners and losers of the off-pitch advertising battle during the tournament, according to Andrew Rohm, a professor of marketing at Loyola Marymount University.
“It was just interesting how those two brands took totally different approaches to their four- to five-minute pieces of content, and I loved the Nike approach because it was totally on-brand, irreverent, unexpected, in your face,” Rohm told CNBC. “You don’t have to be an official sponsor to tie back into the cultural social importance of a worldwide global event like the World Cup, especially if you have assets like Nike has that you can deploy towards that.”
When it comes to the advertising winners of this year’s World Cup, Rohm said it’s a battle between “the expected and the unexpected.” The companies that aren’t official sponsors and are therefore not restricted by FIFA are able to have the most fun with their marketing, he said.
One brand making the most of its non-sponsor status is denim brand Levi’s.
Because the company isn’t an official backer of the tournament, its branding on the host stadium in Santa Clara, California, had to be removed before matches.
The Levi’s logo, loosely shaped like a jeans pant pocket, was shrouded in a white covering — but the move counterintuitively generated buzz for the company on social media from amused fans. In a similar move, razor brand Gillette’s cover for its logo on the stadium in Massachusetts mimicked shaving cream foam to make light of the situation.
“What started as a naming rights sponsorship restriction at the Levi’s Stadium became the most commented and shared post in Levi’s history,” Kenneth Mitchell, Levi’s chief marketing officer, wrote last week. “Leaning fully into it with a profile change on our social channels sealed the deal.”
Mitchell added that “strong brand iconography” worked on the company’s side, as its distinctive logo remained recognizable even under the covering.
According to Meltwater, Levi’s led the strongest example of non-sponsor visibility through its marketing, with its mentions increasing by 44% since the start of the World Cup. Engagement with the company increased nearly four times after it leaned into the stadium covering marketing, the research firm found.
A shifting ad strategy
Jared Watson, an assistant professor of marketing at New York University’s Stern School of Business, said he’s seen brands having more fun in their marketing during this year’s tournament.
“I think what you’re seeing play out, especially this year, is these brands that are taking sort of a rebellious or a cheeky approach to where they’re not officially being aligned with FIFA, and so a lot of consumers are in support of these marketing initiatives, in part because it feels somewhat adversarial to what’s happening,” Watson told CNBC. “It’s kind of stripping away that capitalistic intention from FIFA.”
Watson said brand success has not come from the marketing alone, but also that some companies are picking up on the frustration consumers feel with the commercialization of global soccer.
FIFA introduced mandatory hydration breaks during matches, for example, baking in more time for ads without breaking up the game. The breaks have drawn criticism from fans who say they’re unnecessary and a money grab.
“There’s a little bit of a stick-it-to-the-man mentality of we like to see these brands that are rebelling and pushing back because it’s kind of in the spirit of what the World Cup is, which is unity and meritocracy,” Watson said.
FIFA said in December the three-minute breaks were intended to prioritize “player welfare” and “part of a focused attempt to ensure the best possible conditions for players.”
Some brands have also found more organic success as fans around the world experience the culture of the World Cup host cities, posting about their newfound affinity for American general store chain Buc-ee’s and salad dressing company Hidden Valley Ranch.
“One of the things that we’ve seen, which I think has helped a lot of brands that maybe hadn’t proactively decided to jump into the advertising fray, is we’ve seen the delight with sort of basic American things,” Watson said. “That has allowed a lot of these brands to kind of slipstream or somewhat reactively jump on these trends and gain some earned media.”
And in an age of artificial intelligence, marketing that creates an emotional connection and has a human appeal stands out, according to Kelly Cutler, an associate professor of marketing at Northwestern University.
“I think it’s particularly timely, because I think people feel a little bit sensitive right now with all of the media around AI and all the discussions around AI,” Cutler said. “So that understanding at that human level of how important it is when your team wins or loses is so basic and fundamental and creates such a connection.”
Cutler also said the marketing cuts through generations — younger consumers are more aware of when they’re being sold to and are more often resistant. Companies that can develop a deeper bond with Generation Z will find the “golden goose of marketing,” she said.
For sponsor companies constrained by FIFA regulations, she added, the World Cup may have broader implications for future brand partnerships.
“The organizations, obviously they want those sponsorship dollars, and they don’t want to experience this type of situation where the brands that are paying nothing are getting a lot of traction and hitting all the headlines and having these really interesting outcomes,” Cutler said. “So I do think that it’s going to be interesting to watch how this impacts future sponsorship programming.”
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Valvoline CEO Lori Flees discusses the used car boom, decreased interest in electric vehicles and more on ‘The Claman Countdown.’
Polestar said on Thursday that the Trump administration is forcing the electric vehicle maker to stop selling vehicles in the U.S. starting with the 2027 model year under a new regulation cracking down on China-linked automakers.
The Commerce Department’s Bureau of Industry and Security (BIS) declined to grant Polestar authorization to sell cars under the Connected Vehicles Rules, which restricts the importation and sale of cars with connected vehicle technology linked to China starting with the upcoming model year.
Bluetooth, wireless internet, cellular connectivity and some satellite communications technologies are covered under the rules based on national security concerns stemming from the ability of such vehicles to collect sensitive data on American owners.
The Commerce Department first adopted the rule in January 2025 before the end of the Biden administration, while it has remained in effect under President Donald Trump.
Polestar will be banned from selling EVs in the U.S. starting with the 2027 model year due to the Connected Vehicles Rule. (Justin Sullivan/Getty Images)
Polestar CEO Michael Lohscheller said in a statement that the company will place a greater emphasis on Europe in its corporate strategy going forward, while the automaker’s announcement noted that 94% of its retail sales volumes in the first quarter of 2026 was from markets outside the U.S.
Lohscheller said that the “automotive industry is entering a new phase, based on regional dynamics. Our strategy reflects that, with Europe being our largest growth engine and our plan to manufacture Polestar 7 in Europe.”
“Our record sales in 2025 and the first quarter of 2026 show that we are making strong progress, with several new market launches taking place in Europe this year. In addition, we will continue to invest in markets where we have opportunities to continue to grow, like Southeast Asia, Eastern Europe, Latin America and Canada,” he added.
GORDON CHANG WARNS CHINESE EVS ENTERING US VIA CANADA COULD BECOME ‘ROLLING SPY MACHINES’
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PSNY | POLESTAR AUTOMOTIVE | 17.43 | -1.54 | -8.12% |
| VLVLY | VOLVO AB | 33.25 | -0.51 | -1.51% |
Polestar, which is based in Sweden, is majority owned by China’s Geely Holding Co.
FOX Business reached out to the Commerce Department and Geely for comment.
The company has struggled to turn a profit and has required repeated capital injections from Geely, and its shares have fallen sharply, which prompted it to carry out a reverse stock split last year to remain listed on the Nasdaq exchange.
Following the Commerce Department’s decision, Polestar will continue to sell the existing stock of Polestar 3 and Polestar 4 vehicles in the U.S. and support customers through access to its service network.
INDUSTRY GROUP WARNS OF CHINESE CONNECTED VEHICLES
Most of Polestar’s retail sales have been in Europe. (Sjoerd van der Wal/Getty Images)
Volvo, which produces some of Polestar’s cars and is a sister brand to the automaker, said in March it would consolidate production of the Polestar 3 at its South Carolina plant instead of also building it in China. It said it was too early to say whether Thursday’s announcement would shift those plans.
The Polestar 3 is the company’s only U.S.-manufactured model.
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Reuters contributed to this report.
American Airlines EVP COO David Seymour sells $2.2m in stock
Business
ACADIA Pharmaceuticals Stock Soars Over 12% After EU Regulators Reverse Course on Rett Syndrome Drug
Shares of ACADIA Pharmaceuticals surged Friday, climbing 12.65%, or $3.00, to $26.72 in midday trading, after European regulators reversed an earlier rejection of the company’s flagship Rett syndrome treatment.
The rally marks a dramatic turnaround for a stock that had been weighed down for months by uncertainty over whether the drug, trofinetide, would ever reach patients in the European Union.
A reversal months in the making
The catalyst behind Friday’s jump traces directly to a regulatory decision delivered this week. According to meeting highlights published by the European Medicines Agency, the Committee for Medicinal Products for Human Use, following a re-examination, recommended granting a marketing authorization for Daybu, the European brand name for trofinetide, for the treatment of neurobehavioral symptoms of Rett syndrome in adults and pediatric patients aged five years and older.
The decision reverses a setback that had clouded ACADIA’s European ambitions since early this year. The committee had initially adopted a negative opinion on the drug’s marketing authorization application in March 2026, prompting the company to formally request a re-examination of that decision.
What went wrong the first time
When the CHMP first rejected the application, the committee’s concerns centered on specific gaps in the clinical data rather than a wholesale dismissal of the drug’s effectiveness. The committee’s refusal was based on perceived deficits including the view that the treatment effect observed with trofinetide after 12 weeks, while measurable, was limited in magnitude; that the pivotal study did not capture all core symptoms of Rett syndrome; and that assessment of longer-term outcomes was influenced by patient discontinuations over time — even though the pivotal LAVENDER trial had successfully met its co-primary and key secondary endpoints.
ACADIA’s chief executive responded to that initial setback by emphasizing the company’s confidence in the underlying clinical data. “While we are disappointed by the CHMP’s recommendation to refuse approval, we continue to be encouraged by the meaningful benefits trofinetide has demonstrated for people living with Rett syndrome,” Catherine Owen Adams, ACADIA’s Chief Executive Officer, said at the time. “The strong engagement and positive feedback we have seen from patients, caregivers, and clinicians in the Rett community reinforce our belief in the treatment’s clinical value.”
A drug already approved elsewhere
Trofinetide’s path through European regulators stands in contrast to its reception in other major markets, where the drug has already secured approval and reached patients. The medicine, a synthetic version of a naturally occurring molecule known as the tripeptide glycine-proline-glutamate, was approved for the treatment of Rett syndrome in adults and pediatric patients two years of age and older by the U.S. Food and Drug Administration in March 2023 under the trade name DAYBUE, and the drug is also approved in Canada and Israel.
In the U.S., ACADIA has continued expanding the franchise around the drug even as the European process played out. The company’s newer formulation, DAYBUE STIX, a dye- and preservative-free powder version of trofinetide, became broadly available across the United States earlier this year following a limited initial launch.
A business built on two approved drugs
Beyond trofinetide, ACADIA’s commercial business rests on a second approved medicine targeting a different neurological condition. The company also markets NUPLAZID, a selective serotonin inverse agonist and antagonist used to treat hallucinations and delusions associated with Parkinson’s disease psychosis.
Both franchises have continued growing steadily even amid the European regulatory uncertainty. In the company’s first quarter of 2026, total revenues reached $268 million, up 11% year-over-year, with DAYBUE sales climbing 20% to $101 million and NUPLAZID sales rising 6% on a non-GAAP adjusted basis to $167 million. Management reaffirmed its full-year 2026 revenue guidance of $1.22 billion to $1.28 billion alongside those results, while reporting a robust balance sheet position of roughly $850 million in cash and no long-term debt.
A pipeline with more catalysts ahead
Friday’s regulatory win adds to a list of upcoming events that could further move the stock in the coming months. ACADIA has reaffirmed its expectation for topline results from a Phase 2 study of remlifanserin, an experimental treatment for Alzheimer’s disease psychosis, with results anticipated sometime between August and October of 2026. The company is also awaiting topline results from a trofinetide clinical trial underway in Japan, expected in the September-to-November window.
Not every recent pipeline update has gone ACADIA’s way, however. The company’s investigational treatment for hyperphagia in Prader-Willi syndrome, an intranasal formulation known as ACP-101, missed all of its endpoints in a Phase III trial, leading the company to end its development work on that program.
Wall Street’s view heading into the news
Even before Friday’s regulatory reversal, analysts following the stock had largely maintained an optimistic outlook on ACADIA’s prospects. Across 21 analysts tracking the stock, the average rating has stood at “Buy,” with a 12-month price target of $31.65 implying a sizable increase from recent trading levels heading into this week. Recent analyst commentary had also pointed to the stock potentially being undervalued following the company’s reaffirmed guidance, even before factoring in the European approval news.
Not all recent analyst moves had been positive, however. RBC Capital lowered its price target on ACADIA to $29 from $30 in May, while Citi separately trimmed its target to $32 from $33, even as both firms maintained bullish ratings on the stock.
What the European approval means going forward
While the CHMP’s recommendation represents a significant step, it is not the final word on the drug’s fate in the European market. A positive CHMP opinion typically precedes a formal decision by the European Commission, which generally follows the committee’s recommendation in granting marketing authorization across the European Union. If that authorization follows as expected, it would open the door for ACADIA to bring trofinetide to Rett syndrome patients across the European market for the first time, expanding the drug’s commercial reach well beyond the United States, Canada and Israel.
For a company whose stock has spent much of the year trading within a relatively narrow band between roughly $20 and $28, Friday’s regulatory reversal — and the sharp rally that followed it — offers a concrete sign that one of its more uncertain near-term catalysts has finally been resolved in the company’s favor.
Business
Infleqtion Shares Surge 7 Percent as Quantum Technology Firm Advances Commercial Applications
Infleqtion Inc. shares climbed more than 7 percent on Friday, reaching $13.77 after gaining $0.98, as investors responded positively to the company’s progress in developing practical quantum technology applications for commercial and government customers.
The quantum technology company has emerged as a leader in neutral atom quantum computing and quantum sensing, with products and services targeting real-world use cases rather than purely theoretical research. Its focus on delivering measurable value has attracted attention from both private sector clients and government agencies.
Infleqtion’s platform uses arrays of individual atoms as qubits, offering potential advantages in scalability and coherence times compared to other quantum computing approaches. The company has demonstrated systems capable of performing useful computations while working toward larger-scale implementations.
Its quantum sensing technologies have applications in navigation, medical imaging and scientific research. These products provide immediate commercial value while supporting longer-term quantum computing development.
Business Strategy and Market Position
Infleqtion has pursued a dual-track approach of developing both quantum computing systems and quantum sensors. This strategy allows the company to generate revenue from near-term products while investing in longer-term quantum computing capabilities.
The company’s neutral atom technology uses laser-cooled atoms as qubits, offering advantages in connectivity and coherence. Its systems can operate at room temperature in some configurations, potentially reducing infrastructure requirements.
Government contracts and research partnerships have provided validation and funding for Infleqtion’s technology. Its work with various agencies demonstrates the practical applications of quantum systems in defense and scientific research.
Commercial customers have begun adopting quantum sensing solutions for specific use cases where classical sensors fall short. These early deployments provide valuable feedback and reference cases for broader market adoption.
Technological Advantages
Neutral atom quantum computing offers unique benefits including the ability to rearrange atoms for optimal connectivity and perform certain operations more efficiently. Infleqtion’s systems have demonstrated competitive performance metrics in various benchmarks.
The company’s approach to error correction and system scalability addresses key challenges in quantum computing development. Its focus on practical applications rather than pure research differentiates it from some academic and competitor efforts.
Quantum sensing technologies provide immediate value in navigation, timing and imaging applications. These products serve as both revenue generators and technology demonstrators for broader quantum capabilities.
Infleqtion’s software and control systems enable users to program and operate quantum devices without requiring deep expertise in quantum physics. This accessibility supports broader adoption across different industries.
Market Environment
The quantum technology sector has attracted substantial investment from both governments and private companies. National initiatives worldwide aim to develop quantum capabilities for economic and security advantages.
Commercial interest in quantum sensing has grown as organizations seek competitive edges in specific applications. Early adopters in defense, healthcare and financial services have begun exploring practical implementations.
Quantum computing remains in early development stages with significant technical challenges to overcome before widespread commercial use. Companies like Infleqtion that demonstrate progress toward practical applications gain attention from potential customers and investors.
The sector’s growth depends on continued technological advancement, talent development and supportive policy environments. Infleqtion’s progress contributes to overall industry momentum.
Investment Considerations
Infleqtion’s share price performance reflects investor interest in quantum technology and the company’s specific approach. The stock offers exposure to an emerging field with significant long-term potential.
Risks include technical development challenges, competition from better-funded companies and long timelines to commercial revenue. Infleqtion’s focus on near-term products provides some balance to these risks.
Longer-term investors see potential in quantum technology’s transformative applications across multiple industries. Infleqtion’s technology platform and early commercial traction support optimistic outlooks.
Analysts monitor the company’s technical milestones, customer adoption and financial performance. Consistent progress could support further valuation upside as the quantum market develops.
Company Leadership and Culture
Infleqtion was founded by researchers with expertise in quantum physics and atomic systems. The company’s leadership emphasizes scientific rigor and practical application development.
Its facilities and research teams focus on translating fundamental quantum science into deployable technologies. This applied approach differentiates it from purely academic quantum research efforts.
Corporate culture encourages innovation while maintaining focus on customer needs and commercial viability. The company’s growth has attracted talent from various scientific and engineering backgrounds.
Future Outlook
Infleqtion’s strategic direction focuses on scaling its quantum technologies while expanding commercial applications. Its ability to deliver practical value in quantum sensing while advancing computing capabilities will influence its trajectory.
The company continues investing in hardware development, software tools and customer support infrastructure. Its progress toward larger-scale systems and broader market adoption will be closely watched.
Investors will monitor technical announcements, customer contracts and financial results for signs of commercial traction. Management guidance will provide insight into development priorities and market opportunities.
The quantum technology sector’s potential remains substantial despite current technical limitations. Infleqtion’s contributions to practical applications could play an important role in realizing this potential.
As the company advances its platform and customer relationships, its impact on quantum technology commercialization will grow. Infleqtion’s progress represents an important chapter in the development of quantum technologies for real-world use.
Business
Netflix Shares Surge More Than 5 Percent as Streaming Leader Reports Strong Subscriber Growth
Netflix Inc. shares jumped more than 5 percent on Friday, closing at $75.10 after gaining $4.21, as investors responded positively to the company’s continued subscriber growth and content strategy success.
The significant advance reflected confidence in Netflix’s position as the leading global streaming service with a robust content pipeline and improving profitability. The company has consistently added subscribers while optimizing its business model for sustainable growth.
Netflix’s focus on original content, international expansion and advertising-supported tiers has driven engagement and revenue diversification. Its ability to produce popular programming across multiple genres and languages has strengthened its competitive advantage.
The streaming giant’s financial performance has shown consistent improvement with revenue growth and margin expansion. Management’s emphasis on content efficiency and operational discipline has supported profitability gains.
Subscriber Growth and Engagement
Netflix has reported strong subscriber additions across regions, with particular strength in international markets. Its global reach and localized content strategy have broadened its appeal to diverse audiences.
Engagement metrics, including viewing hours and completion rates, have remained robust as the company balances popular franchises with new releases. Its recommendation algorithms and personalization features enhance user satisfaction and retention.
The advertising tier has gained traction among price-sensitive consumers while maintaining premium subscription growth. This dual approach allows Netflix to serve different market segments effectively.
Password sharing crackdowns and account consolidation efforts have contributed to subscriber growth without significant backlash. The company’s measured approach to these changes has preserved customer relationships.
Content Strategy and Investment
Netflix continues investing in original programming while leveraging licensed content to fill its library. Its data-driven approach to content decisions has improved hit rates and return on investment.
International content has become increasingly important to subscriber growth and cultural relevance. Productions from various regions have achieved global success and strengthened local market positions.
The company’s focus on diverse storytelling and creator partnerships has expanded its appeal. Award-winning series and films have enhanced its reputation for quality programming.
Sports and live events have emerged as growth areas, with strategic rights acquisitions complementing its traditional scripted content. This diversification broadens Netflix’s entertainment offerings.
Competitive Landscape
Netflix faces competition from other streaming services including Disney+, Amazon Prime Video and Warner Bros. Discovery’s Max. Its first-mover advantage and global scale provide significant differentiation.
The company’s focus on profitability and cash flow generation distinguishes it from competitors prioritizing subscriber growth at any cost. This discipline has supported positive free cash flow and financial flexibility.
Content spending across the industry has moderated as companies focus on returns rather than sheer volume. Netflix’s data advantages and creative expertise support efficient content investment.
Partnerships and licensing agreements with various studios provide additional content options while managing costs. These relationships enhance library depth without proportional increases in original production spending.
Investment Considerations
Netflix’s share price performance reflects investor appreciation for its execution and growth strategy. The company’s valuation incorporates expectations for continued subscriber growth and margin expansion.
The stock appeals to growth-oriented investors seeking exposure to digital entertainment and content creation. Its improving profitability and cash flow generation support positive long-term outlooks.
Risks include competitive pressures, content performance variability and potential economic impacts on consumer spending. Netflix’s global diversification and content strategy provide some resilience.
Analysts generally maintain positive views, citing the company’s market leadership and operational improvements. Continued delivery on growth targets could support further positive sentiment.
Industry Trends
The streaming industry has matured with increased focus on profitability and sustainable business models. Companies have shifted from subscriber growth at any cost to balanced approaches emphasizing returns.
Content spending has stabilized as platforms prioritize quality and efficiency over volume. Data analytics and audience insights drive more targeted content investment decisions.
Global expansion and localization have become essential for streaming success. Companies investing in regional content and marketing gain advantages in international markets.
Technological advances in video quality, personalization and interactive features continue enhancing user experiences. Netflix’s investment in these areas supports its competitive positioning.
Future Outlook
Netflix’s strategic direction focuses on global growth, content innovation and operational efficiency. Its ability to execute on these priorities will influence long-term performance and market position.
The company continues refining its content strategy and platform features based on user behavior and competitive dynamics. Its data advantages and creative expertise support informed decision-making.
Investors will monitor upcoming quarterly results for progress on subscriber metrics, revenue growth and margin trends. Management guidance will provide insight into content strategy and market conditions.
The streaming industry’s fundamental demand drivers remain strong as consumers seek convenient entertainment options. Netflix’s market leadership, global reach and content quality position it for continued success.
As the company advances its platform and content offerings, its contribution to global entertainment and cultural exchange will expand. Netflix’s progress will be watched closely by subscribers, competitors and investors worldwide.
Paying For Active Management. Are You Getting It?
Form 4 Ooma Inc For: 26 June
Woman applying estrogen patch during hormone therapy.
Halfpoint Images | Moment | Getty Images
Estrogen patches are in short supply as demand for the menopause medications skyrockets, and it could take at least a year for manufacturers to catch up.
Prescriptions of estrogen patches have increased 162% over the past two years, according to data from HealthVerity. Already rising demand was turbocharged last fall when the Food and Drug Administration removed a more than 20-year-old black box warning discouraging women from taking hormone replacement therapy.
Manufacturers are struggling to keep pace. Three types of patches are in shortage, according to data from the American Society of Health-System Pharmacists, which relies on reports from healthcare providers. The FDA, using a different methodology, hasn’t declared a shortage of estradiol.
“You can get them, but it takes a lot of time and effort when we’re all so busy at this time of our lives,” said Dr. Susan Loeb-Zeitlin, director of the Women’s Midlife Center at Weill Cornell Medicine.
Doctors across the country describe the difficulty their patients are experiencing to find hormone replacement therapies, particularly estrogen patches. When asked how much time she spends trying to help people find the medication, Dr. Francesca Turner, a doctor in Iowa, just laughs.
“Between my nurse, patients’ pharmacists and myself, we are doing this pretty much every day trying to figure out how to navigate this for our patients,” Turner said.
Doctors prescribe estrogen to treat the symptoms of menopause, including hot flashes and brain fog, which occur when a woman’s body produce less of the hormone. Estradiol is the most potent type and is commonly administered through a patch that gradually releases the hormone on the skin to help ease physical and mental symptoms of menopause. Doctors prefer giving estrogen topically because it’s considered a safer option than orally, Loeb-Zeitlin said.
For more than two decades, the FDA advised women to avoid treating menopause with estrogen because a 2002 study called the Women’s Health Initiative suggested it could put women at greater risk of breast cancer and other conditions like dementia. Later analyses found the participants in the study were older than most women starting hormone replacement therapy and the risks of taking it were overstated. The FDA reversed course last fall and said it would work with companies to remove references to the risks in the labels of the medications.
By then, interest had already rebounded. Doctors credit prominent voices like Oprah Winfrey and social media users for shining a light on menopause, the life-altering symptoms that some women experience and how hormone replacement therapies can help.
“The demand has actually come from more of the community of women saying within their groups or communities that they are still suffering,” said Dr. Jessica Shepherd, chief medical officer of Hers. “This was much more brought about by social media, where people are really able to air their voice, and you see a lot of celebrities that were talking about their journey as well.”
Seeing the momentum, Hers, part of the telehealth provider Hims & Hers that’s best known for offering erectile dysfunction drugs and GLP-1s, about a year and a half ago decided to get into the perimenopause and menopause business, Shepherd said. Interest in the program has tripled since the company introduced it in October, the company said.
Prescriptions of all types of estrogen have risen 78% over the past two years, according to data from HealthVerity. The patches have proven particularly popular, with prescriptions more than doubling to 1.6 million in May from 594,000 in June of 2024, HealthVerity found. They now account for 44% of all estrogen prescriptions.
Phynart Studio | E+ | Getty Images
That popularity has strained supply.
Three types of estradiol patches are now facing shortages, according to the ASHP database. Two of the affected manufacturers – Zydus and Noven – didn’t respond to CNBC’s request for comment.
The third drugmaker, Amneal, said it’s working to increase production to help meet growing demand. The company said it doesn’t provide specific production details or timelines but remains focused on continuity of care for patients.
Other manufacturers of estrogen products said they are seeing similar trends. Sandoz in a statement said recent changes in prescribing behavior have “created an unprecedented demand that cannot be fully met at present.” The company said it’s working to increase manufacturing of estradiol patches, but it’s challenging to do so because the patches are “highly complex” to manufacture.
The heightened demand could explain why the FDA hasn’t declared a shortage, according to drug industry experts. The agency evaluates whether supply from all manufacturers of a drug meets historical demand of a drug.
And while the ASHP’s shortage database is driven entirely by public reports, the FDA’s data comes from manufacturers, said Michael Ganio, senior director of pharmacy practice and quality at the ASHP. That leaves the FDA trying to quantify new demand for a drug without being able to easily track prescriptions that go unfilled.
“It’s really, really hard to understand how much demand is out there because you don’t know how many physicians, nurse practitioners and prescribers in general are switching patients to alternate products, so it’s always challenging for the FDA to put a label on yes, there’s a shortage, without really being able to quantify the true market demand,” Ganio said.
An FDA spokesperson said estradiol patches are currently not in shortage and all six manufacturers report manufacturing at full capacity while working to keep up with increased demand. The agency said it continues to monitor supply and is offering assistance to manufacturers to increase supply.
It could take time to see the result of that effort. Making transdermal patches involves more complex manufacturing than treatments like pills.
Generic manufacturers typically switch lines throughout the year, Ganio said, meaning they might dedicate a line to making an estradiol product for the first three months then be done for the year. And in order to increase output, they would either need to wait until the following year or run another batch. It’s a harder calculation for generic drugmakers to make since the products carry lower profit margins than brand-name drugs, he said.
The strain already appears to be spreading to other hormone replacement therapies, with ASHP recently listing several estradiol creams and progesterone pills, which are given alongside estrogen, as being in shortage.
In the meantime, some people are looking for alternatives. Loeb-Zeitlin suggests her patients try estrogen gels if they can’t find patches. Some doctors are turning to creams from compounding pharmacies.
Jenn Burch, a pharmacist in Durham, North Carolina, started marketing creams to doctors in her area earlier this year when she started struggling to stock the patches. She’s finding that some patients are preferring them because she can customize them to combine estrogen with other hormones like progesterone or testosterone.
Insurers rarely cover compounded medicines, meaning patients need to pay out of pocket. Burch says she charges about $50 for a month’s supply of cream, a price she says helps cover the investment she has made to comply with a recent regulation about compounding hazardous substances. The special handling requirements could be another factor limiting manufacturers’ ability to quickly ramp up production, Ganio said.
He predicts it will take a year or two for manufacturers to find the sweet spot between supply and demand. That means women could be left scrambling for some time.
HP computers at a Best Buy store on Black Friday in New York, Nov. 28, 2025.
Victor J. Blue | Bloomberg | Getty Images
As the global artificial intelligence race accelerates, memory chips are getting more expensive. As a result, costs of some consumer electronics are beginning to rise for retailers and consumers alike.
Memory storage, known as RAM, is crucial for all computing devices, including phones, tablets and laptops. The cost of chips has been rising due to a supply shortage driven largely by massive demand for AI data centers. Companies such as Nvidia, Advanced Micro Devices and Google have been scrambling to secure RAM for their chips.
Apple on Thursday announced it’s raising its prices on MacBooks and iPads — passing along the rising cost of memory to consumers — with the potential for more price hikes down the road. The memory shortage is an “unprecedented challenge,” the company said in a statement.
Incoming Best Buy CEO Jason Bonfig said on a call with reporters earlier this month that the company expects its computing division will be the most affected by price hikes.
“We did see some staggered price increases in Q1, so moving to Q2, we do expect [average sale prices] to increase and units from an elasticity perspective to be impacted,” Bonfig said. “We did bring in more inventory in Q1, which you can see on our balance sheet, which does help us to mitigate it.”
Memory costs
Soaring memory costs are expected to reduce global personal computer shipments by 10.4% and smartphone shipments by 8.4% in 2026, according to Ranjit Atwal, a senior director analyst at Gartner, citing February research. Gartner also projected that PC prices will increase by 17% and smartphone prices will grow by 13%, compared with 2025 levels.
“What’s happening this time around, compared to previous times that memory prices have gone up, is the extent with which prices of memory is increasing,” Atwal said. “Secondly is the length of time that we think prices will remain high. … This one is looking like it won’t be until the end of 2027 before we get to any type of regional pricing.”
While the price increases may not be immediately apparent in stores, Atwal said, it’s inevitable that the demand will outpace the supply. Some retailers pulled forward inventory in the first quarter in anticipation of the rising prices, he added, but that cushion can only last so long.
“It will catch up with everyone,” he said. “You end up in a point where you just have no control over what you can do. You have to pass it on, and that’s the difference now versus where we were before. The market’s more mature as well, so there’s an expectation that people are going to buy up anyway.”
Consumers might not even be aware of the price hikes, Atwal said. Most people upgrade their laptops after four or five years and may not even remember what they previously paid or what the specifications of their old models were, he said.
That gap may lead to a somewhat “delayed impact” on consumer behavior, Atwal said, but the eventual effect is bound to hit them soon.
Customers still spending
So far, Bonfig said, Best Buy isn’t seeing any indication that consumers are pulling forward purchases or even that the rising memory costs are affecting their budgets.
“What we do with that customer is talk about what they’re replacing, talk about what their needs are and talk about how to get them into technology that is going to be substantially better in so many different ways,” Bonfig said. “That’s really the focus that we will continue to have, to make sure we have that broadness and assortment.”
A Best Buy spokesperson told CNBC that the company still sees its customers spending and that very few of them are worried about memory. In the first quarter, Best Buy said it saw its ninth consecutive quarter of positive comparable sales in computing.
Anthony Chukumba, an analyst at Loop Capital who covers Best Buy, told CNBC he thinks larger retailers such as Best Buy will fare better than smaller ones, because of the market share they hold. As suppliers navigate passing along the added costs, Chukumba said major retailers will have more “leverage” to avoid price hikes for as long as they can.
“A lot of times, investors think about things too simplistically, like, ‘Oh, rising memory costs because of AI, that must be very bad for Best Buy,’” Chukumba said. “There’s just nothing that Best Buy can do about it. … This is their business, they’re always managing these changes, and they’re seeing the same stuff that you’re seeing, probably before you’re seeing it, and in much more detail, and so they manage.”
Chukumba said he believes the long-term impacts of memory costs won’t be as significant as they may seem at the moment.
“Because technology is constantly evolving, constantly becoming cheaper, you can have this headwind of higher memory prices, but if you’re buying something relative to what you would have bought a year ago, much less two years ago, it’s still going to have vastly superior capabilities, and the consumers are none the wiser,” he said.
It could also hit other retailers, such as Target, Amazon, Costco and Walmart. Target declined to comment on rising memory costs, and Amazon also declined to comment. Costco and Walmart did not respond to requests for comment.
Shortages and hikes
Still, the broader risks posed by the memory chip shortage could spell trouble.
According to Atwal, the Gartner analyst, the rising costs could lead to consumers holding onto their devices longer, leading to fundamental changes to upgrade cycles for products such as smartphones.
“Consumers … will compromise on what they need, and the vendors are going to find it more difficult to push AI features, which are kind of dependent on this, and typically want a premium for them,” Atwal said.
Earlier this month, a coalition of organizations including the National Retail Federation wrote a letter to the U.S. Treasury and Commerce departments asking the government to examine the “urgent imbalance” of memory chips and the potential for “significant and sustained near-term price increases” for consumers.
“The real-world impacts of these trends have already begun to show themselves and threaten to deteriorate rapidly if the situation is not remedied,” the letter said.
The organizations urged the government to work with memory chipmakers and chip buyers to “protect against harm to consumers, workers, and businesses of all sizes.”
Jon Gold, NRF’s vice president of supply chain and customs policy, told CNBC the trend could lead to a shortage of consumer electronics, in addition to the potential price hikes.
“There’s always only so much impact that retailers can take on their own, so they’ve got to work with their vendors the best they can to try and minimize price increases and the impact that’s having on consumers,” Gold said. “But the bigger impact is the lack of those memory chips is a lack of products potentially.”
Gold said that if consumers begin to hold on to devices for longer because of price increases and the cost difference for upgrading, it will affect both retailers and suppliers as the consumer electronics market stagnates.
“Unfortunately, it’s one more complicated factor for a retailer and others who are making long-term plans and who are making contracts six, nine, 12 months in advance,” Gold said. “It’s very complicated and very complex and more pressure on retailers and manufacturers.”
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