Daily Brief United States: Microsoft Corp, EverQuote , Southern Company, Live Oak Acquisition Corp. VI, Exelon Corp, Workday Inc Class A, International Business Machines, Vital Farms Inc, Greenwave Technology Solutions, Black Hills and more

• Nadella argues the industry must address AI risks through classic, rigorous engineering practices: transparent chain-of-thought (CoT) tracking, strict behavioural auditing and independent, third-party testing rather than “cozy arrangements”.
• Nadella wants broad industry interoperability standards (e.g., externalising memory/harnesses from specific models and creating unified KV cache standards across models) so customers can switch between models without losing their data.
• While continuing its deep strategic partnership with OpenAI, Microsoft is simultaneously building its own native AI models and adopting heterogeneous chip infrastructure (NVIDIA, AMD, internal silicon, and OpenAI’s custom silicon)

• EverQuote, Inc. (EVER) has engineered a decisive financial and operational turnaround following the 2022-2023 auto insurance underwriting trough, growing full-year revenue from $287.92M in FY2023 to $692.52M in FY2025 and generating $95.38M in Operating Cash Flow and $90.32M in Free Cash Flow.
• Structural cost discipline implemented in mid-2023, coupled with proprietary machine learning traffic optimization, has yielded meaningful operating leverage, expanding quarterly EBITDA margins to 12.54% by Q2 2026 and sustaining gross margins above 97%.
• With a fortress balance sheet featuring zero debt, $170M+ in cash reserves, and multi-year secular tailwinds as Tier-1 auto carriers ramp digital acquisition spending toward a targeted $1.0B revenue milestone, EVER offers institutional investors an attractive growth and cash-flow profile at a discounted valuation relative to peers.

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• The Southern Company reported second-quarter 2026 adjusted EPS of $1.13, exceeding the prior-year quarter by $0.21 and company guidance by $0.13.
• Results benefited from higher electricity usage and customer growth across regulated utilities, increased allowance for funds used during construction, stronger equity investment earnings, favorable taxes, and contributions from Southern Company Gas and businesses such as PowerSecure.
• These gains were partly offset by higher interest expense from increased debt and dilution from additional shares outstanding.

• Live Oak Acquisition Corp. VI is a blank check company formed to effect a business combination, focusing on companies with growth, strong cash flow, and a defensible market position.
• The company targets businesses with enterprise values from $500 million to $2 billion, focusing on above-average growth, substantial free cash flow, and defensible market positions.
• Total assets were $133,318 (Actual) and $203,566,295 (As Adjusted) as of June 30, 2026. The auditor’s report expresses substantial doubt about going concern.

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• Exelon Corporation reported second quarter 2026 adjusted operating earnings of $0.43 per share, aligning with expectations, and reaffirmed full-year guidance of $2.81 to $2.91 per share.
• The company continues to prioritize providing safe, reliable utility services while managing investments and costs amid increasing weather-related challenges.
• ComEd, one of Exelon’s utilities, encountered 16 major weather events this year, including severe storms that impacted over half a million customers.

• Workday has suddenly become one of the most closely watched names in enterprise software after its shares gained roughly 7% on reports that financing efforts for a potential take-private transaction were continuing.
• No acquisition has been announced, and management declined to comment on private-equity interest when directly asked during its latest earnings call.
• Yet the renewed takeover speculation arrives at an intriguing moment for the company.

• IBM has turned one of its most ambitious quantum plans into something tangible.
• Its Anderon subsidiary has finalized a $1 billion research and development award from the U.S. Department of Commerce under the CHIPS and Science Act, supporting what IBM describes as America’s first pure-play quantum wafer foundry.
• Located in Albany, New York, the 300-millimeter facility is designed to manufacture quantum wafers not only for IBM but also for other companies developing quantum hardware.

• Vital Farms has suddenly become an M&A story after a report said the premium egg producer is reviewing strategic alternatives, including a potential sale.
• Shares rose roughly 4% following the report, reflecting investor attention around what could become an important turning point for the company.
• No transaction has been announced, and there is no certainty that the strategic review will result in a sale.

• Greenwave Technology Solutions operates 13 metal recycling facilities in Virginia, North Carolina, and Ohio, processing various scrap metals for sale. This filing is for resale of shares by selling stockholders,.
• Greenwave operates 13 facilities and reported revenue of $32,271,860 for the six months ended June 30, 2026. Revenue increased by 76.06% and gross profit by 129.92% compared to 2025.
• The company reported a net loss of $(4,745,708) and an accumulated deficit of $525,656,136 as of June 30, 2026. Concerns exist about the ability to continue as a going concern.

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• Black Hills Corporation reported solid progress during the second quarter of 2026, reflecting continued focus on strategic growth, operational execution, and financial discipline.
• The company remains on track to meet its full-year earnings guidance, supported by a nearly $1 billion capital investment plan aimed at serving the increasing energy demands of its customer base across eight states.
• Financially, Black Hills Corporation delivered GAAP earnings per share (EPS) of $0.50 for the quarter, which adjusted to $0.54 excluding $0.04 of merger-related expenses.