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EMAIL DIGESTS
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EMAIL DIGESTS
Daily
Every morning
Weekly
Tuesday recap
Visteon reported a record 2025 adjusted EBITDA of $492 million, representing a 13.1% margin, and generated $292 million of adjusted free cash flow. Displays sales surged about 20% year‑over‑year, while new business wins hit $7.4 billion, a 20% increase driven largely by displays and SmartCore programs. The company announced a dividend hike to $0.375 per share and outlined 2026 guidance of $3.63‑$3.83 billion revenue amid a projected 50% drop in U.S. BMS volumes and memory‑cost inflation. Management emphasized vertical integration, AI cockpit development, and upcoming program launches with Toyota and Honda as growth catalysts.
Alight Inc. posted FY 2025 revenue of $2.3 billion, with recurring revenue down 2.2% and project revenue plunging 22%, resulting in a 5% decline in revenue under contract for 2026. Adjusted EBITDA reached $561 million, delivering a 24.8% margin, while free cash flow...
Klarna Group reported a 28% jump in active consumers to 180 million and a 42% increase in merchants to 966,000 in Q4 2025. Gross merchandise volume hit $38.7 billion and revenue topped $1 billion, both surpassing guidance. Transaction margin dollars after provisions rose 17%...
Grail reported Q4 2025 revenue of $36.2 million, a 26% year‑over‑year rise, driven by 45,000 Gallery tests sold—a 39% volume increase. The company completed a $325 million private placement, boosting cash to roughly $850 million, and announced a strategic partnership with Samsung that...
Kaiser Aluminum reported $3.4 billion in net sales for 2025, generating $1.5 billion in conversion revenue after $1.9 billion of alloy metal hedge costs. Total shipments fell 5% to 1.1 billion pounds, while packaging conversion revenue rose 11% thanks to a shift toward coated...
Floor & Decor announced a leadership transition, naming President Brad Paulsen CEO effective fiscal 2026 while Tom Taylor moves to Executive Chair. The company posted EPS of $0.53, a 10.4% increase, and total sales of $1.18 billion, up 5.5% year‑over‑year, but...
Iridium Communications reported Q4 2025 results that met guidance, with full‑year service revenue up 3% and OIBDA reaching $495.3 million, a 5% year‑over‑year increase. Pro forma free cash flow hit $296 million, supporting a 3.3% dividend yield and a share‑repurchase program that...
Pulse Biosciences reported its first commercial revenue of $86,000 from limited market release of the nPulse platform and Vibrance disposables. The company completed over 200 procedures across pilot programs and advanced multiple clinical studies, including FDA IDE clearance for the...
WESCO International reported record fourth‑quarter revenue of $6.1 billion, a 10% year‑over‑year increase driven by 9% organic growth. Data‑center sales exploded 30% to $1.2 billion, pushing full‑year data‑center revenue to $4.3 billion, roughly 18% of total sales. Adjusted EBITDA rose to $409 million with...
Live Nation Entertainment reported an 11% revenue increase and a 24% rise in operating income for Q4 2025, propelled by a 60% surge in stadium activity and strong international fan growth. Adjusted operating income (AOI) climbed 14%, helped by $40 million...
Valaris reported Q2 2019 adjusted EBITDA of $59 million, well above the $35 million forecast, driven by strong utilization and disciplined expense management. The company marked the 100‑day integration milestone, completing over half of its merger tasks, including a major ERP conversion...
EPAM Systems reported Q4 2025 revenue of $1.4 billion, a 12.8% year‑over‑year increase, and AI‑native revenue topped $105 million, on track to exceed $600 million in 2026. The company posted GAAP EPS of $1.98 and non‑GAAP EPS of $3.26, while free cash flow...
Middlesex Water Co (MSEX) reported 2025 income from continuing operations of $191.4 million, a 5.7% increase year‑over‑year, while full‑year net earnings fell to $190.4 million due to the Everest spin‑off. The electric utility segment saw earnings decline to $64.9 million, whereas natural‑gas earnings...
TTM Technologies reported a 19% year‑over‑year increase in Q4 2025 net sales, reaching $774.3 million, driven by strong demand in data‑center computing, networking, and aerospace & defense. Non‑GAAP earnings per share hit a record $0.70, matching the top of guidance, while...
Six Flags reported Q4 2025 adjusted EBITDA of $165 million on $650 million revenue and 9.3 million guests, with operating days down to 779 after dropping winter holiday events. Per‑capita spending rose to $61.90, helping the company achieve a 27% margin despite attendance...
Pediatrix Medical Group reported Q4 2025 adjusted EBITDA of $66 million, matching the top of its revised guidance, and delivered full‑year adjusted EBITDA of $276 million. The company projects 2026 adjusted EBITDA between $280 million and $300 million, roughly a 5% increase, while revenue...
F&G Annuities & Life reported record assets under management of $73.1 billion, a 12% year‑over‑year increase, driven by $14.6 billion in gross sales. Adjusted net earnings rose to $482 million for the year, with fee‑based income contributing 15% of earnings as the company...
Onto Innovation reported Q3 2025 revenue of $218.2 million, surpassing the midpoint of its guidance, with a 54% gross margin and 21.1% operating margin. Advanced nodes contributed $54 million and are projected to reach $300 million for the full year, while specialty packaging...
Wayfair reported Q4 2025 revenue up 6.9% YoY (7.8% excluding Germany), with adjusted gross margin steady at 30.3% and contribution margin improving to 15.3%. Adjusted EBITDA surged to $224 million, driving full‑year EBITDA above $743 million and free cash flow up 40%...
Brady Corp reported a strong start to fiscal 2026, with adjusted diluted EPS rising 8% to $1.21 and operating cash flow surging 42.5% to $33.4 million. Total sales grew 7.5% year‑over‑year, driven by 2.8% organic growth, a 3.2% boost from acquisitions...
AMN Healthcare reported Q2 2025 revenue of $658 million, hitting the top of its guidance but falling 11% year‑over‑year. A $110 million goodwill impairment drove a GAAP net loss of $116 million, while adjusted EBITDA slipped to $58 million with an 8.9% margin. Gross...
Laureate Education reported full‑year 2025 revenue of $1.7 billion, up 9%, and a record‑high adjusted EBITDA margin of 30.5% on $519 million of EBITDA. The company returned $217 million to shareholders and announced an additional $150 million authorization for its share‑repurchase program. Enrollment grew,...
Evergy reported third‑quarter adjusted EPS of $2.03, a modest year‑over‑year rise, while narrowing its 2025 adjusted EPS outlook to $3.92‑$4.02 due to below‑normal cooling degree days. The utility unveiled a $17.5 billion capital plan through 2029 aimed at grid modernization and...
YETI Holdings reported a record Q4 2025 with net sales of $583.7 million, up 5 % year‑over‑year, driven by 6 % growth in drinkware and a 25 % surge in international revenue. Adjusted gross margin fell to 58.4 % as tariffs added a 310‑basis‑point cost...
Meta CEO Mark Zuckerberg testified in Los Angeles as part of a high‑profile social‑media addiction trial, facing questions about internal documents that show the company deliberately targeted users as young as ten. Plaintiffs highlighted memos from 2015‑2018 that set goals...
Pool Corp reported full‑year revenue of $5.3 billion, essentially flat year‑over‑year, as strong maintenance demand offset a continued decline in new pool construction. Gross margin improved to 29.7% for the year and 30.1% in the fourth quarter, helped by disciplined pricing...
American Homes 4 Rent reported a 6.2% year‑over‑year increase in core FFO per share to $0.47 and nudged its full‑year core FFO guidance to $1.87 per share. The company completed its development deliveries for the quarter, redeploying proceeds from the...
Narratives can crush multiples faster than fundamentals change. Markets are pricing “software is dead” as if AI will commoditize SaaS overnight. But enterprises still need governance, permissioning, audit trails, compliance, uptime, and data orchestration. AI may change workflows, but it doesn’t...
Travelzoo reported Q2 2025 revenue of $23.9 million, a 13% year‑over‑year increase, primarily from advertising and commerce. GAAP operating profit fell to $2.1 million (9% of revenue) as the company ramped up member acquisition, with cost per new club member climbing to...
Dropbox posted Q3 2025 revenue of $634 million, a modest 0.7 % decline YoY, while non‑GAAP operating margin surged to 41.1 % above guidance. The company launched its self‑serve AI product Dash at $19 per user, achieving 60 % weekly active user engagement among...
The February 18 edition spotlights ETFs that deliver at least a 5% annual dividend yield, hold over $100 million in assets, and trade with a 20‑day average volume above 0.5 million shares. The list features a mix of traditional dividend funds, leveraged products,...
Motorcar Parts of America (MPAA) trimmed its FY 2026 sales outlook to $750‑$760 million, reflecting a $50 million shortfall from a major customer’s store closures. Gross margin fell to 19.6% year‑over‑year but rose sequentially, and operating income is projected between $72 million and...
Acadian Asset Management reported record assets under management of $177.5 billion, a 52% increase year‑over‑year, driven by strong net client cash flows of $5.4 billion in Q4 and $29.4 billion for the full year. While US GAAP net income fell 18% in the...
Recent rotation has helped resolve some of U.S. large cap stocks’ valuation excesses, but risks remain to the downside for U.S. multiples. Large cap growth’s sales multiple is still near its all-time high, at about 6X, and growth’s earnings multiple may...
UDR reported fourth‑quarter 2025 FFOA of $0.64 per share and a full‑year total of $2.54, both hitting the midpoint of its guidance range. Same‑store NOI growth outperformed expectations while occupancy held steady in the high‑96% range. For 2026 the company...
In this episode, Warren Buffett’s 2008 shareholder letter is dissected to highlight timeless investment principles amid market turbulence. Buffett stresses that pessimism, not euphoria, should guide investors, urging disciplined valuation, liquidity, and patience during downturns while warning against chasing applause...
In this episode, Ed Wachenheim of Greenhaven Associates discusses his $6.1‑$6.2 billion equity portfolio, which remains heavily concentrated in cyclical and housing‑related stocks such as General Motors, Lennar, Toll Brothers, PulteGroup and D.R. Horton. He explains recent trims—most notably a 34%...
Canadian home prices slipped 0.4% in January to $658,000, the lowest level since February 2021, marking a 5% year‑over‑year decline. The correction represents a 22.6% drop from the 2022 peak, yet prices remain 26.4% above early‑2020 levels. National sales fell 16.2%...
U.S. banks posted robust Q4 consumer‑loan growth, but all warned that a proposed 10% credit‑card rate cap could restrict credit access and hurt borrowers. JPMorgan’s credit‑card revenue fell short of forecasts by 7.6% and the bank now expects card‑loan growth...
The episode analyzes the unexpected surge in global gasoline demand and price spreads in late 2025, attributing it to tight refinery capacity in Asia and the Middle East and seasonal factors. It examines how rising EV adoption, evolving blending mandates,...
Toyota Motor Corp's labor union lowered its annual bonus demand to 7.3 months' pay, a 0.3‑month reduction from last year’s record level, as the automaker faces higher U.S. tariffs. The union also called for wage hikes in the spring “shunto”...
Live cattle prices slipped modestly on the CME, with April contracts down $0.27 to $242.52 and June contracts down $0.02 to $238.42. Feeder cattle also fell, March contracts losing $0.40 to settle at $370.57. The market is largely waiting for...
Sprite’s aviation securitization platform is launching a $495 million asset‑backed securities (ABS) program backed by lease contracts on 30 aircraft. The issuance comprises three fixed‑rate tranches with an anticipated repayment date in March 2033 and a final legal maturity in March 2041. World...
Software is getting hit on fear of substitution more than evidence of structural deterioration in enterprise spending. When price action gets ahead of reality, the re-rating can be violent if the narrative cools.
The global macro docket for the next 24 hours of trade pics up. Japan has machinery orders, mfg activity survey, a 1-year and 20-year JGB auction, Jan CPI. Walmart and Alibaba report earnings. US and Canada trade balance. PBOC rate setting. Start...
Home Depot, Lowe’s and Amazon together captured 56% of the U.S. home‑improvement market in 2025, leaving independent hardware retailers struggling. Independent stores such as C&H Hardware and the 53‑year‑old Blossom True Value in Mountain View have shut down or announced...
Stark differences in income drive migration within CARICOM (and these are official data). More at today's Chartbook Top Links: https://t.co/DaCnHTI3Wj
A) Many studies have examined whether tariffs have been passed through to consumer prices, and they've found significant retail price increases B) Tariff burdens absorbed by US companies are an inefficient corporate tax, paid by Americans via lower wages or share...
The equal‑weighted S&P 500 continues a well‑defined uptrend, indicating intermediate‑term bullish momentum. In contrast, the broader, cap‑weighted U.S. equity averages remain confined to tight trading ranges, reflecting short‑term indecision. Meanwhile, the VVIX—volatility of the VIX—has stayed above the 100 threshold, underscoring...
Bc of the interest component & exponential function of a debt based monetary system, there is never enough money to pay off the debt. And bc debts are always paid (either by lender or borrower), if they didn’t debase the...
