Atai Life Sciences N.V. ( ATAI -0.67% ▼ ) has released its Q2 earnings. Here is a breakdown of the information Atai Life Sciences N.V. presented to its investors.
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Atai Life Sciences N.V. is a clinical-stage biopharmaceutical company focused on developing innovative treatments for mental health disorders, leveraging both psychedelic and non-psychedelic compounds. The company recently released its earnings report for the quarter ending June 30, 2025, highlighting its ongoing efforts in advancing its diverse pipeline of psychiatric product candidates.
The latest earnings report reveals that Atai Life Sciences generated a total revenue of $2.3 million for the first half of 2025, primarily from research and development services. Despite this, the company reported a net loss of $54.2 million, reflecting its continued investment in research and development and general administrative expenses. The company also announced a significant transaction to acquire Beckley Psytech Limited, which is expected to close in the fourth quarter of 2025, potentially expanding its portfolio in the mental health treatment space.
Key financial metrics from the report include a cash position of $61.9 million and short-term securities valued at $34 million as of June 30, 2025. The company’s operating expenses for the first half of the year amounted to $47.9 million, with research and development expenses accounting for $22.4 million. Additionally, Atai Life Sciences has issued new shares and raised capital through equity offerings, strengthening its financial position to support ongoing operations.
Looking ahead, Atai Life Sciences remains committed to its mission of transforming mental health treatment. The management anticipates that its existing cash reserves will be sufficient to fund operations for at least the next 12 months. The company’s strategic acquisitions and continued focus on developing innovative therapies position it well for future growth and potential market success.
Boeing plans an exciting new upcycling play to make 747s into private jets, but its ongoing issues in St. Louis may hurt it.
This is actually a rather exciting idea for aerospace stock Boeing BA -0.14% ▼ , but it is not one that investors are taking very well. Boeing announced an exciting new play to convert old 747-8 jets into a powerful new class of private jets in what amounts to the ultimate “upcycling” play. Investors, though, did not much care for it, and sent shares down fractionally in Wednesday afternoon’s trading.
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It is called the 747-8 Turnkey program, and it will take former commercial 747s and clean them up via what reports call a “…custom interior refurbishment.” Then, following an engine overhaul, the jet is delivered to the client, and the client gets a private jet with around 5,000 square feet of space to it. These jets also have a range of 8,875 nautical miles, which all but ensures that any city pair in the world will be reachable with the jet’s standard range.
President of Boeing Business Jets, Joe Benson, noted, “The 747-8 continues to serve as a premier VIP and head of state aircraft and discerning customers are interested in continuing this tradition of excellence in private air travel.” Though what this means for airports if suddenly a lot of new private jets with 747 measurements come into play is, at best, unclear.
Striking Back, Harder
Meanwhile the St. Louis strike continues in earnest, and the difference in Boeing’s response is noteworthy. Word from the chairman of the sociology department at Washington University, Jake Rosenfeld, says that Boeing’s response to the St. Louis strike has been a lot tougher than the previous strike’s response last year.
Rosenfeld elaborated, “This is another setback that, as it drags on, could continue the narrative that this is a company that cannot get out of its own way.” However, he also noted, “I think the company has benefited from a lack of broader attention to this particular strike. That has helped them kind of really dig in and really hold the line against workers’ requests.”
Is Boeing a Good Stock to Buy Right Now?
Turning to Wall Street, analysts have a Strong Buy consensus rating on BA stock based on 14 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 38.35% rally in its share price over the past year, the average BA price target of $259.08 per share implies 20.95% upside potential.
Cathie Wood is one of the most closely followed figures in modern investing. As the founder and CEO of ARK Invest, she’s earned a reputation for spotting transformational trends early, often long before Wall Street takes notice. Through ARK’s lineup of actively managed exchange-traded funds (ETFs), Wood champions innovation in areas ranging from artificial intelligence and genomics to robotics and fintech. Her every move is tracked by market watchers eager to see where the “Queen of Disruption” is placing her next wager.
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On Wednesday, October 15, Wood and her team were at it again, executing a round of trades across several ARK funds, including the flagship ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF).
The day’s biggest move involved Archer AviationACHR +0.08% ▲ , ARK’s holding in the electric air mobility space. ARK Innovation ETF (ARKK) sold 302,280 shares of the company, trimming its position after a strong run over the past year. Archer is building electric vertical takeoff and landing (eVTOL) aircraft designed to revolutionize short-distance travel. Its Midnight aircraft is progressing toward commercial launch, and the company remains among the top contenders in the race to make air taxis a reality.
From the skies to the cloud, ARK’s buying activity centered on China’s leading tech names. Baidu BIDU +1.37% ▲ was added across multiple ARK funds, including ARKK, ARKQ, ARKW, and ARKF, for a combined total of ~111,000 shares. The Chinese search and AI powerhouse has been making waves with its autonomous driving initiatives and its ERNIE AI model, which rivals OpenAI’s ChatGPT. Wood’s increased exposure suggests confidence in Baidu’s innovation pipeline despite the regulatory challenges facing China’s tech sector.
Continuing that theme, Alibaba Group BABA +1.87% ▲ also featured among ARK’s top buys today. The e-commerce and cloud titan has been one of the standout performers this year, with shares nearly doubling in 2025. ARK’s ~75,000-share addition across funds underscores Wood’s confidence that Alibaba’s business momentum and global positioning can sustain further growth even as China’s broader economy remains uneven.
Meanwhile, ARK trimmed its position in Roblox RBLX +3.96% ▲ , selling a combined ~62,000 shares across the ARKK, ARKW, and ARKF ETFs. The gaming and metaverse platform has seen its stock surge about 240% over the past year, fueled by growing developer engagement and expanding brand partnerships. Wood’s decision to reduce exposure likely reflects profit-taking after the strong rally rather than a shift in conviction about Roblox’s long-term potential.
Elsewhere, smaller trades reflected ongoing portfolio fine-tuning. ARK Innovation ETF sold 30,514 sharesof Teradyne TER +2.96% ▲ and 16,213 shares of Brera HoldingsSLMT -1.02% ▼ , while ARKW trimmed its stake in Palantir PLTR -0.07% ▼ by 16,560 shares. In addition, ARKQ reduced its position in Kratos Defense KTOS -4.95% ▼ by 28,145 shares. These moves likely represent short-term capital adjustments rather than changes in Wood’s broader conviction toward these companies.
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U.S. stock futures were slightly higher on Wednesday night, as upbeat bank earnings helped offset concerns over mounting risks from a prolonged government shutdown and rising trade tensions with China. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up 0.06%, 0.01%, and 0.03%, respectively, at 8:43 p.m. EDT on October 15.
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In the regular trading session, major stock indices mostly rose after a bumpy trading day. The S&P 500 and the Nasdaq Composite closed up 0.4% and 0.7%, respectively. However, the Dow Jones ended just below flat.
Exxon Mobil’s stock is stuck at 2022 prices as oil revisits 2021 levels, but a fortress balance sheet, relentless buybacks, and a likely crude rebound make this dip buyable.
Exxon Mobil’s XOM -0.61% ▼ stock has been largely stagnant in recent years, trading near the same levels seen in late 2022. This lack of momentum persists despite the company arguably being in a stronger financial and operational shape today. The stock’s performance has closely mirrored crude prices — with WTI hovering in the high-$50s and Brent in the low-$60s, territory not seen since early 2021.
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However, this period of stagnation could set the stage for a meaningful opportunity. Exxon boasts one of the strongest balance sheets in the energy sector, with ample liquidity, disciplined capital spending, and a sector-leading dividend. If oil prices rebound even modestly from current levels, the combination of Exxon’s financial strength and operational leverage gives the stock significant upside potential.
Given this setup, I remain Bullish on Exxon Mobil and view the current weakness as a potential long-term entry point.
Why Oil Dropped, and Why It Should Bottom
This latest leg down in oil is primarily a supply story. The International Energy Agency flagged a sizeable global surplus into 2026, which spooked traders and pulled futures to five-month lows. Brent near $62 and WTI around $58 suggest that the market has bought the IEA’s oversupply narrative, at least for now.
From a technical analysis perspective, crude oil has a mixed picture with moving averages pointing lower while momentum oscillators are bullish, according to Tip Ranks data.
When you also consider that somewhat jittery U.S.–China trade headlines and a modest OPEC+ production tweak, you’ve got a recipe for softer prices in the short run.
Moreover, zoom in on the U.S., and you can see the mix shifting. Shale growth has slowed while offshore Gulf of Mexico projects are doing more of the incremental heavy lifting. Sure, that’s great for long-term capacity. Still, it doesn’t change the near-term fact that at sub-$60 WTI, marginal barrels get uneconomic fast, which historically encourages producers and OPEC+ to tighten the taps.
Even Vitol’s Ben Luckock (hardly a permabull) suggested dips into the $50s wouldn’t last. In other words, the fundamental rubber band looks stretched, and 2021-like price levels tend to attract policy and supply responses, so I believe oil prices may, in fact, bottom around here.
Balance Sheet First, Then Buybacks
Now, even with uninspiring oil prices today, Exxon stayed plenty profitable and used the cash to get lean. Net debt is low, and leverage is tiny, with its roughly 0.4x net debt to LTM EBITDA, placing Exxon at the conservative end of the majors. Management also noted a single-digit net-debt-to-capital ratio (about 8% mid-year) after further paydown in 2025. That gives Exxon flexibility if oil stays depressed.
But just to highlight Exxon’s profitability prowess, even following consistent deleveraging in recent years, the company has also been retiring stock at a brisk clip.
In 2021, repurchases were a token at just about $0.15 billion, but in 2022 they jumped to $14.9 billion. In 2023, buybacks rose again to $17.4 billion, and in 2024, they pushed to almost $20 billion (and the company extended a $20 billion per-year plan through 2026). Year-to-date, Exxon has already repurchased $9.8 billion, and it’s chewed through about 40% of the shares it issued to fund the Pioneer deal.
XOM Earnings Set to Rebound as Oil Cycles Bottom Out
Earnings expectations mirror the somewhat depressed oil prices, with the consensus calling for EPS to decline in 2025. However, the market expects a rebound in 2026, which is what you’d expect if this is a cyclical trough for crude. Latest estimates point to $6.79 EPS for 2025 (down 12.8% YoY) and a move back toward $7.41 in 2026 as prices stabilize, based on expectations of an oil price rebound.
Given these estimates, I don’t believe the valuation is stretched for a company with Exxon’s asset base. This year’s P/E sits at around 16.5x, and FY2026’s estimate falls to 15.2x. These multiples leave room for an expansion if oil prices bounce and buybacks continue to shrink the denominator.
Note that the sector average forward P/E stands at 13.1x, which might imply that XOM is overvalued. However, note that the sector includes many E&P names that naturally trade at lower multiples due to their higher-risk business models.
Regardless, if you’re wondering whether oil prices have to cooperate for this thesis to work, here’s how I see it. Even at today’s strip, Exxon can comfortably fund its capex, dividends, and buybacks—thanks to a stronger balance sheet, lower costs, and a higher-quality asset base. But if crude moves into the mid-$60s or higher, the math turns compelling pretty quickly: a cleaner balance sheet means more free cash flow converts directly into repurchases, and with fewer shares outstanding, that EPS accretion will become hard to ignore.
Is Exxon Mobil a Buy, Sell, or Hold?
Wall Street remains relatively bullish on Exxon, with the stock carrying a Moderate Buy consensus rating based on 11 Buy and seven Hold ratings over the past three months. Notably, not a single analyst is bearish on the stock. Moreover, XOM’s average stock price target of $126.65 suggests almost 14% upside from current levels.
XOM’s Structural Strength Positions It for the Next Upturn
Oil prices may appear washed out, hovering near multi-year lows, but Exxon Mobil today is not the same company it was during prior downcycles. The balance sheet is among the strongest in the sector, leverage is minimal, and cash returns to shareholders are now structural rather than opportunistic. Continuous efficiency gains and disciplined capital allocation have supported steady share count reduction, further amplifying per-share metrics over time.
The oiler’s valuation remains modest relative to its historical averages and to peers, despite a cleaner cost base and a portfolio positioned to benefit from any cyclical recovery in crude prices. With earnings likely to re-accelerate as the macro environment stabilizes, Exxon offers a rare mix of defensive strength and upside optionality. In my view, that combination makes this recent pullback an attractive entry point for long-term investors.
Top Wedbush analyst Matt Bryson raised his price target on Advanced Micro Devices AMD +9.40% ▲ to $270 from $190, while maintaining an Outperform rating. The new price target implies nearly 13% upside from current levels. The 5-star analyst said the higher target reflects greater confidence in AMD’s long-term GPU growth, driven by new AI partnerships that expand visibility into future demand. He added that the $270 target represents a “fair premium,” given the company’s improving outlook and stronger position in the data center market.
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It is worth noting that Bryson ranks 82 out of more than 10,000 analysts tracked by TipRanks. He has a success rate of 77%, with an average return per rating of 45.10% over a one-year timeframe.
Big Partnerships Boost AMD’s AI Traction
Bryson highlighted two major deals that have strengthened his view on AMD’s future. The first is AMD’s agreement with Oracle ORCL +1.55% ▲ Cloud Infrastructure, which will start deploying 50,000 MI450 GPUs in the third quarter of 2026, with more growth expected in 2027.
Even assuming some overlap between the Oracle and OpenAI deployments, Bryson said the scale is far larger than before. He estimates that each gigawatt of AI capacity could be worth about $20 billion in AMD hardware sales, meaning the OpenAI deal alone could easily beat his earlier revenue forecasts for 2026 and 2027.
Analyst Raises Long-Term GPU and Earnings Forecasts
Bryson said he has raised his long-term estimates following these new deals. For 2025, he expects steady demand for PC and server chips, which should continue to support AMD’s growth. While his near-term data center GPU outlook is mostly unchanged, his forecasts for 2026 and 2027 are now much higher.
He now sees AI-related data center revenue reaching about $10 billion in 2026, and doubling to roughly $20 billion in 2027 as AMD ramps GPU shipments for OpenAI. Bryson also lifted his 2027 earnings per share forecast to $9, up from $5.81 in 2026, even after allowing for higher costs.
Is AMD Stock a Buy, Sell, or Hold?
Currently, Wall Street has a Strong Buy consensus rating on Advanced Micro Devices stock based on 29 Buys and eight Holds. The average AMD stock price target of $248.51 indicates about 4.15% upside potential.
Meta faces concerns over its uncertain future and its unclear present.
We know that social media giant Meta Platforms META +1.26% ▲ is pushing the envelope in a lot of technology sectors, including the artificial intelligence (AI) front. But the rise of AI comes with a dark side: an increasing difficulty in finding a human when things go wrong. A new report out suggests one business whose social media accounts were canceled had to go on a month-long ordeal to get them reinstated. Meta stock, meanwhile, still managed to gain fractionally in Wednesday afternoon’s trading.
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Funktasy Inc., which handles both a music magazine and a suite of record labels in Montreal, recently ran afoul of Meta after its Facebook and Instagram accounts were both shut down for a month. Apparently, Meta’s automated tools had flagged the founder and director of Funktasy, Amir Hosseini, for “child sexual exploitation.” This turned out to be a mistake, one Meta later apologized for.
Hosseini, meanwhile, tried to clear his name, starting with the Meta fraud team. But only an automated message came back to him. Going to the escalation accounts team, meanwhile, netted a similar result. After a month of such back-and-forth, Meta finally reinstated his accounts…only to shut them down again the next day, again alleging the account “…still doesn’t follow our Community Standards on sexualization of children.” But this time, only days later, the account was reinstated once more, this time with an apology. Ultimately, reports note, Hosseini purchased a $171-per-month subscription to Verified Page, which allowed him access to a human agent. This, he considers, was “buying insurance.”
Buy In?
Meta’s intense focus on AI of late has drawn attention, and this is causing some concern among investors. Those who follow the basic standard of not investing in anything you do not understand are facing a quandary with Meta, as it pursues what it calls “superintelligence.” Given that the product in question neither exists nor has a clear definition, this is prompting concern.
With Meta throwing money at AI like no tomorrow, up to and including billion-dollar pay packages for some engineers, this is the direction Meta is going. Some investors are finding this notion a bit too risky. Others are considering it more a matter of investing in potential. Where investors will go on this one, meanwhile, remains to be seen.
Is Meta Platforms a Buy, Sell or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 41 Buys and six Holds assigned in the past three months, as indicated by the graphic below. After a 22.86% rally in its share price over the past year, the average META price target of $877.91 per share implies 23.17% upside potential.
General Motors is implementing measures to mitigate the impact of tariff headwinds on its operating margins. Investor confidence in the company’s ability to execute has driven the stock near all-time highs.
Although it has underperformed the broader market throughout 2025, General Motors GM +1.14% ▲ has staged a strong comeback since April as investors have sharply re-rated the stock, assigning a lower risk premium—mainly around tariff impacts.
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Operationally, the company has been executing well, gaining market share across most regions and delivering margins broadly in line with management targets. Still, signs of weaker cash conversion and tariff headwinds have largely been shrugged off so far, with the stock now trading at forward multiples close to its historical peaks.
With Q3 just around the corner—the Detroit-based automaker is set to report next week on October 21—expectations are for a weak bottom line, pressured by tariff headwinds. That said, upside surprises could emerge if mitigation efforts start to show a clearer path for a stronger second half of 2025.
However, given stretched valuation and how dramatically risk perception has been cut back, I’d rather stay on the sidelines for now and maintain a Hold rating on GM.
General Motors’ Margin Under Transitory Stress
At the beginning of October, General Motors shares came within a hair of their all-time highs (around $63 per share) set at the end of 2021, briefly breaking above the $60 level before losing momentum. What’s interesting is that the company’s current momentum—especially on the margin front —isn’t nearly as solid as it was between 2020 and 2023, particularly in North America, where most of GM’s profits are generated.
For instance, from 2020—the year the pandemic began—through the next three years, GM consistently delivered operating-adjusted (or EBIT-adjusted) margins in the low double digits, or in the high single digits at times. More recently, those levels have slid to 6.1%, with the tariff shock being the main culprit.
To put this into perspective, EBIT-adjusted margin is widely viewed as GM’s most crucial profitability metric. It strips out non-recurring items (like major recalls or impairments) and reflects how much the company actually earns from its core automotive operations.
Of course, these headwinds haven’t hit GM alone. When compared to its domestic legacy peer, Ford Motor Company F +0.94% ▲ , Ford’s EBIT-adjusted margin currently sits at a meager 3.5% for the first half of 2025—a steep drop from 6.1% in the same period a year earlier.
Betting on the Bounce
One might ask: why, even with a sharp drop in its most important operating metric, did GM shares rally strongly, especially since Liberation Day in early April?
In my view, the answer lies in the perception that the margin hit is likely temporary rather than structural. The bull-case narrative for GM—and other car makers—has shifted toward forward earnings. This became especially evident when GM maintained its adjusted EBIT guidance for 2025, despite widespread expectations of cuts. While GM’s adjusted EBIT for fiscal 2024 was $13.7–$15.7 billion, the 2025 guidance now sits at $10–$12.5 billion. Importantly, management highlighted that mitigation measures—including production adjustments, cost initiatives, and price repositioning—could offset roughly 30% of the projected tariff impact on adjusted EBIT.
That said, even though top-line growth is expected to remain flat for at least the next two years, the market is already pricing in EPS growth of ~7% YoY by the end of 2026 and ~3.5% in 2027, signaling that tariff risks are being viewed as cyclical rather than structural.
Looking ahead to Q3, GM will need to report EPS above the $2.29 consensus to beat estimates—a 21.5% drop versus last year—reflecting an 18% reduction in analysts’ forecasts over the past six months due to tariff projections. In H1 2025, automotive operating cash flow fell roughly 37%, impacting cash conversion quality and delaying buybacks. While buybacks slowed down in Q2, they resumed in July, with $4.3 billion still available.
I would keep an eye on not just for an earnings beat, but also for any improvement in cash conversion since this could be a key driver for stronger shareholder returns in the second half of the year.
GM’s Market Position and Valuation
The main point of concern in this thesis, in my view, is valuation. Over the past twelve months, GM has been trading at a forward multiple of 5.9x earnings, recently coming down from its all-time highs of 6.5x reached in early October—well above its historical five-year average of 4.7x.
It seems the market has assigned this premium precisely at a time when EBIT-adjusted margins have been severely compressed by tariff headwinds, essentially assuming these pressures are temporary and that double-digit EBIT-adjusted margins will return in due course.
That said, this premium isn’t necessarily unjustified in the current environment. GM and its subsidiaries have gained market share across all regions (except for South America). In North America, for instance, market share in H1 2025 came in at 16.4% versus 15.5% in H1 2024. In APAC, it rose from 4.7% to 4.8% over the same period. Globally, total market share increased from 6.5% to 6.7%.
In other words, GM has continued to expand its presence in a highly competitive auto industry, and there’s a reasonable chance that operating margins will return toward the ~10% target set by management.
Is GM a Buy, Hold, or Sell?
Consensus on GM stock is moderately bullish. Of the 18 analysts who have rated the stock over the past three months, twelve are bullish, three are neutral, and two are bearish. GM’s average stock price target sits at $65.82, implying an upside of roughly 13.7% over the next twelve months.
I believe there’s a certain degree of exaggerated optimism in the market, driven by the reduced perception of risk around GM’s thesis, especially after the annual lows in April. While there are reasons to justify a premium multiple, I see many uncertainties in assigning it at the current level, given that adjusted EBIT margins are still far from double digits.
Personally, I would feel more comfortable going long GM at a forward earnings multiple closer to 5x—slightly above its historical average—rather than near 6x. For this reason, I am assigning a Hold rating on GM ahead of its upcoming earnings.
