American Atomics: Lisbon Valley News Brings US Strategy into Focus
As is well known, the US aims to significantly reduce its strategic dependence on foreign uranium supplies; consequently, uranium projects in the US and industrial partnerships focused on expanding uranium processing infrastructure are becoming increasingly important. Historically, US uranium demand has been met by foreign sources, including Kazakhstan and Russia. However, new policy objectives and the steadily rising demand for baseload electricity, which nuclear power plants provide, are slowly bringing the uranium sector back into the spotlight for investors.
The latest NI 43-101 reports on the Lisbon Valley East uranium project by American Atomics (WKN: A41EBW | ISIN: CA0240301089 | Ticker Symbol: Q3B) demonstrate how US companies are utilizing publicly available, qualified historical data. Here, historical exploration results were systematically evaluated to support upcoming investment decisions. Lisbon Valley East is located in Utah and produced approximately 80 million pounds of uranium oxide (U₃O₈) between 1950 and 1990. Some of the ore bodies in this uranium belt still contain up to 20 million pounds of uranium oxide ore, which is why American Atomics has secured up to an 80% stake in this project through a purchase option.
The company’s goal is to develop a fully integrated uranium group in the US that, in addition to exploration, mines and processes uranium to re-establish a complete value chain. In addition to the Lisbon Valley East project, the company has secured 100% ownership of the Blue Streak uranium project in Colorado. Through a total transaction value of USD 1 million, of which USD 250,000 was paid immediately in cash and the remaining USD 750,000 is to be paid at a later date, the company has also owned the former Pickett Corral uranium mine since April 2026. A total of 51,495 metric tons of ore with a 0.29% U₃O₈ grade was mined there through 1971, yielding approximately 293,985 pounds of U₃O₈. Additionally, just under 2 million pounds of the byproduct vanadium (V2O5) with a grade of 1.92% was produced. The vanadium-to-uranium ratio at that time was approximately 6.7:1.
American Atomics itself refers to this strategy as the “Rocks to Reactor” approach, to build a more resilient US nuclear supply chain. By publishing a semi-annual financial report and changing its ticker symbol to NUKEF on US stock exchanges via the Fast Automated Securities Transfer Program (DTC-FAST authorization), the company aims to further increase the stock’s visibility and trading liquidity, particularly in the US. In summary, American Atomics confirms that the company’s US strategy is intended to reduce the US’s dependence on foreign supplies.
T-Mobile US Shares Plummet: A Warning Sign for Deutsche Telekom?
T-Mobile US shares (WKN: A1T7LU | ISIN: US8725901040 | Ticker: TMUS) came under significant pressure following the Q2 earnings report. On July 22, it opened at USD 194.83 and closed at USD 190.94. Following the earnings release, the stock opened significantly lower at USD 175.75 last Thursday, July 23, and closed at USD 170.42. Compared to the previous closing price, this represented a daily loss of 10.75%. From the opening price on July 22 to its low on the following trading day, the stock temporarily lost around 13%. However, a rebound began as early as Friday and continued through yesterday’s closing price. The share opened at USD 172.16 and has since risen by 7.7% to USD 185.44. The market capitalization thus stands at approximately USD 199 billion. Year-to-date, the stock is still down about 7.1%; over the past year, the decline is as much as 23.6%.
This development is particularly important for shareholders of Deutsche Telekom (WKN: 555750 | ISIN: DE0005557508 | Ticker: DTE). Taking into account the treasury shares held by T-Mobile US, the DAX-listed company controls 53.6% of its US subsidiary. At the current valuation, this stake corresponds to a market value of approximately USD 106.7 billion. T-Mobile US is thus Deutsche Telekom’s most important growth driver and asset.
Operationally, the second quarter was solid. Service revenues rose 9% year-over-year to USD 18.98 billion, while postpaid service revenues increased by 13% to USD 15.85 billion. The acquisitions of UScellular and Metronet contributed to this growth. Net income reached USD 3.24 billion. Diluted earnings per share increased by 5% to USD 2.99. Adjusted core EBITDA grew by 12% to USD 9.54 billion, and adjusted free cash flow rose by 4% to USD 4.80 billion. The decline can be attributed primarily to the weaker customer outlook. The number of new postpaid customer accounts fell 13% year-over-year to 277,000. For the third quarter, T-Mobile expects only about 250,000 additional accounts, while analysts had anticipated around 304,000. The transition of older customers to modernized and more expensive plans is likely to lead to a temporarily higher churn rate.
For 2026, T-Mobile continues to expect 950,000 to 1.05 million new postpaid accounts and adjusted core EBITDA of USD 37.1 to USD 37.5 billion. The free cash flow forecast was raised to USD 18.4-18.8 billion, mainly due to lower tax payments. From a technical analysis perspective, the situation remains weak despite the recovery. The stock is trading below key moving averages. In particular, the 200-day moving average at around USD 200 represents a key hurdle. Only once the stock moves above this level would the chart picture improve sustainably. For Deutsche Telekom, however, the US figures—ahead of its own quarterly report on August 6—remain a fundamentally positive, if not flawless, signal for long-term investors.
Volkswagen Lowers Revenue Forecast: Will Porsche Be the Next Stress Test Today, July 29?
Volkswagen (WKN: 766403 | ISIN: DE0007664039 | Ticker: VOW3) published its results for the second quarter and the first half of 2026 on July 24. The VW preferred stock temporarily lost 3.2% following the release but has since stabilized, closing at EUR 72.64 yesterday. This puts it just above its 52-week low of EUR 69.20. Its market capitalization stands at only around EUR 36.3 billion. Porsche shares (WKN: PAG911 | ISIN: DE000PAG9113 | Ticker: P911) also came under selling pressure but stabilized as well, closing at EUR 44.74.
Volkswagen’s results were mixed. Second-quarter revenue rose 2.0% year-over-year to EUR 82.44 billion, exceeding expectations. However, operating profit fell 9.5% to EUR 3.47 billion. At the same time, the operating margin dropped from 4.7% to 4.2%—net income after taxes plummeted by as much as 32.9% to EUR 1.54 billion. For the first half of the year, revenue remained largely flat at EUR 158.10 billion. Operating profit fell by 11.6% to EUR 5.93 billion. By contrast, the automotive division’s net cash flow showed a positive trend. After a negative EUR 1.4 billion in the same period last year, Volkswagen now reported a positive EUR 3.2 billion. Lower tax payments, reduced capital expenditures, and improvements in working capital supported liquidity.
The main challenge remains China. Vehicle sales there fell by 31.6% in the first half of the year. In addition, US tariffs, pricing pressure and high restructuring costs are also weighing on the business. As a result, Volkswagen now expects revenue growth in 2026 to range between -3% and 0%. Previously, the company had forecast stable revenue or growth of up to 3%. The operating margin target of 4.0% to 5.5% remains unchanged.
For Porsche, the VW figures already provide an important preview. The automotive business of the sports-luxury division generated revenue of EUR 15.16 billion and an operating profit of EUR 1.21 billion. The margin improved from 5.2% to 8.0%. Including Financial Services, Porsche AG’s operating profit stood at approximately EUR 1.35 billion. However, the improvement was partly due to lower expenses related to the strategic realignment. Operationally, the situation remains challenging. Porsche delivered 122,306 vehicles, 16% fewer than in the previous year. In China, deliveries plummeted by 32%. In addition, approximately 9,000 jobs are expected to be cut by 2035, including 5,000 positions as part of the newly announced cost-cutting package.
On July 29, therefore, the outlook and the expected performance in the second half of the year are likely to be the key factors. Porsche has so far forecast revenue of EUR 35 to 36 billion and an operating margin of 5.5 to 7.5%. A confirmation of these figures could stabilize the stock. Another downward revision of the forecast, on the other hand, is likely to significantly intensify the pressure on Porsche and, indirectly, on Volkswagen as well.
Conclusion
American Atomics is securing access to the Lisbon Valley uranium project and Blue Streak to build an independent value chain in the US.
T-Mobile US saw its share price drop despite solid Q2 growth, as the outlook for new customers was disappointing.
Volkswagen lowered its 2026 revenue forecast due to weak sales in China, amid declining operating margins. Yet it is precisely when times are darkest on the stock market for companies like VW that interesting risk-reward ratios often present themselves.
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