News•Mar 10, 2026
The Closer – Big Bond Sale, BDC, Housing – 3/10/26
Amazon became the latest investment‑grade borrower to tap the bond market, issuing a tranche that ranks as the fourth‑largest IG bond sale ever to fund its data‑center expansion. The deal adds several billion dollars of capital at a competitive yield, underscoring strong investor appetite for tech infrastructure financing. Meanwhile, business development companies have endured a year of severe price declines, resulting in elevated yields but also stretched valuations. Concurrently, falling mortgage rates, stable home prices, and steady wage growth are improving housing affordability.
By Bespoke Investment Group – Think B.I.G. Blog
News•Mar 10, 2026
Q4 2025 Earnings Conference Call Recaps: Vail Resorts (MTN)
Vail Resorts reported its Q2 2026 results amid the worst Rockies weather on record, with snowfall down 43% year‑over‑year and February temperatures 9°F above average. The harsh conditions limited terrain to 70‑80% of acreage, driving a 13% drop in skier visits,...
By Bespoke Investment Group – Think B.I.G. Blog
News•Mar 10, 2026
A Range Like Few Others
Volatility has surged across markets, driven by geopolitical sparks such as the Iran situation. Crude oil experienced an extraordinary intraday swing, with WTI’s high‑low range topping 40% yesterday—the second‑largest percentage move since the 2020 price collapse. Today the energy sector...
By Bespoke Investment Group – Think B.I.G. Blog
News•Mar 4, 2026
Q4 2025 Earnings Conference Call Recaps: Brown-Forman (BF/B)
Brown-Forman reaffirmed its fiscal 2026 outlook, expecting a low single‑digit organic net‑sales decline despite a soft US spirits market and a severe slump in Canada, where sales are down nearly 60%. The company highlighted strong performance from Jack Daniel’s Tennessee...
By Bespoke Investment Group – Think B.I.G. Blog
News•Feb 26, 2026
The Closer – AI, Earnings, LatAm – 2/26/26
The Bespoke Institutional "Closer" newsletter for Feb 26, 2026 recaps today’s AI‑related equities, highlighting stocks tied to OpenAI. It then surveys the latest corporate earnings across sectors, followed by an analysis of Latin American market performance and recent fund‑flow spikes. The issue...
By Bespoke Investment Group – Think B.I.G. Blog
News•Feb 25, 2026
Q4 2025 Earnings Conference Call Recaps: Lowe’s (LOW)
Lowe’s reported Q4 2025 comparable sales growth of 1.3% and full‑year revenue of $86.3 billion, beating EPS expectations. Management forecast 2026 comparable sales flat to a modest 2% increase, citing a roughly flat home‑improvement market. Elevated mortgage rates and a lock‑in...
By Bespoke Investment Group – Think B.I.G. Blog
News•Feb 25, 2026
Q4 2025 Earnings Conference Call Recaps: CAVA (CAVA)
CAVA reported its first $1 billion in annual revenue, supported by 439 locations across 28 states. Full‑year revenue grew 22.5% while same‑restaurant sales rose 4%, though Q4 comps slipped to 0.5%. Management guided 2026 same‑restaurant sales of 3‑5% and highlighted a...
By Bespoke Investment Group – Think B.I.G. Blog
News•Feb 19, 2026
The Closer – Doves Fly, Breadth Disconnect, Repo – 2/19/26
The latest Bespoke Institutional "Closer" highlights a shift in Federal Reserve rhetoric, suggesting a softer stance on monetary policy. It also points to a widening disconnect between market breadth and price performance, while flagging renewed stress in the repo market....
By Bespoke Investment Group – Think B.I.G. Blog
News•Feb 19, 2026
B.I.G. Tips – Earnings Triple Plays Recap: Q4 2025
The fourth quarter of 2025 saw 98 earnings triple plays across roughly 1,100 U.S. listed companies, a drop of 110 from the previous reporting period’s 208. A triple play occurs when a firm beats both earnings‑per‑share and revenue forecasts while...
By Bespoke Investment Group – Think B.I.G. Blog
News•Feb 19, 2026
Q4 2025 Earnings Conference Call Recaps: Leidos (LDOS)
Leidos reported a robust 2025 despite a six‑week government shutdown, lifting adjusted EBITDA margins by 120 basis points to 14.1% and boosting non‑GAAP earnings per share 17%. The firm maintained a 1.3× book‑to‑bill ratio, with $7 billion of awards rolling into...
By Bespoke Investment Group – Think B.I.G. Blog
News•Feb 19, 2026
Q4 2025 Earnings Conference Call Recaps: Toll Brothers (TOL)
Toll Brothers reported Q1 2026 results that beat expectations, delivering $1.85 billion in revenue and a 25% year‑over‑year EPS increase to $2.19. Management highlighted modest gains in web traffic, foot traffic and deposits, while keeping buyer incentives flat at 8% of sales...
By Bespoke Investment Group – Think B.I.G. Blog
News•Feb 17, 2026
Q4 2025 Earnings Conference Call Recaps: Fluor (FLR)
Fluor Corp reported Q4 2025 earnings, noting weaker‑than‑expected EPS and revenue but saw its stock jump up to 7% on the call. Management indicated that client hesitation is easing and projected 2026 new awards to be significantly higher than the...
By Bespoke Investment Group – Think B.I.G. Blog
News•Feb 17, 2026
Q4 2025 Earnings Conference Call Recaps: Builders FirstSource (BLDR)
Builders FirstSource (BLDR) reported a disappointing Q4 2025, with sales down 12% and adjusted EBITDA plunging 44% as large homebuilders cut starts to clear excess inventory. Despite the revenue slump, gross margins held steady at 29.8%, above the pre‑transformation 2019...
By Bespoke Investment Group – Think B.I.G. Blog