On February 17, 2026, Engine Capital Management disclosed in an SEC filing that it sold 960,161 shares of KBR (NYSE:KBR) , with the estimated transaction value at $41.16 million based on quarterly average pricing. According to an SEC filing dated February 17, 2026, Engine Capital Management reduced its stake in KBR by 960,161 shares during the fourth quarter. The estimated value of shares sold was...
On February 17, 2026, Engine Capital Management disclosed in an SEC filing that it sold 960,161 shares of KBR (NYSE:KBR) , with the estimated transaction value at $41.16 million based on quarterly average pricing. According to an SEC filing dated February 17, 2026, Engine Capital Management reduced its stake in KBR by 960,161 shares during the fourth quarter. The estimated value of shares sold was $41.16 million, using the average closing price for the quarter. The fund ended the period with 124,567 shares, worth $5.01 million. The stake’s quarter-end value declined by $46.29 million, a figure that reflects both trading activity and market price movement. KBR is a large-scale provider of engineering and technology solutions, with a diversified portfolio spanning government services and sustainable technology. The company leverages proprietary technologies and digital platforms to address complex challenges in defense, energy, and industrial markets. Its global presence and expertise in both government and commercial sectors underpin a resilient business model focused on innovation and operational excellence. Continue reading
Getty Images I guess many of us will agree that we ended last week’s trading on a high note, because if you took in the market’s print, the Nasdaq ( NDX ) ( QQQ ) finished up almost 0.9%, with the S&P 500 ( SPX ) ( SPY ) not far behind at +0.7%. Therefore, the reaction to SCOTUS’s decision to conclusively strike down President Trump’s global tariffs under IEEPA has offered a semblance of calm to a...
Getty Images I guess many of us will agree that we ended last week’s trading on a high note, because if you took in the market’s print, the Nasdaq ( NDX ) ( QQQ ) finished up almost 0.9%, with the S&P 500 ( SPX ) ( SPY ) not far behind at +0.7%. Therefore, the reaction to SCOTUS’s decision to conclusively strike down President Trump’s global tariffs under IEEPA has offered a semblance of calm to an otherwise seeping volatility under the hood that may not be so obvious to the casual investor. Volatility dispersion (Bloomberg) As seen above, even though the S&P 500 has been treading water carefully, the dispersion between the winners and losers has widened increasingly. I guess I do not have to remind you that the disconnect in the tech sector has also intensified as investors assess and contemplate who could end up being the ultimate winners and the ultimate users as the AI race ( AIQ ) enters the next phase, with software companies now on the chopping block. VTV price action (TradingView) At the same time, value stocks ( VTV ) have maintained their uptrend bias, as investors flocked to opportunities across the market where the AI trade is suspected to proliferate and spread its tentacles, benefiting companies across plays and narratives in energy, industrials, and also utilities. This should heap even more pressure on tech stocks now facing an impending need to justify that they are not facing severe or imminent disruption risks from pure-play AI companies that are looking to validate their AI agentic thesis from 2026. Consumer Staples At Peak P/E (Macro Charts) Nevertheless, this flight to safety appears to have been taken too far. For instance, consumer staples ( XLP ) are now reaching the highest valuation multiples that we have seen in decades. It does seem like investors are preparing for a massive derating in risk-on sectors or stocks that may not eventually pan out, because we do know that the market often tries to price in potential risks ahead of time (but ...
Putin Vows To Bolster Russia's Nuclear Triad As "Absolute Priority" In a Monday televised speech on the occasion of Russia's "Defender of the Fatherland Day," President Vladimir Putin declared that the development of the nuclear triad "remains an absolute priority" for Russia, coming soon on the heels of the collapse of the New START nuclear treaty with the United States. The nuclear triad serves ...
Putin Vows To Bolster Russia's Nuclear Triad As "Absolute Priority" In a Monday televised speech on the occasion of Russia's "Defender of the Fatherland Day," President Vladimir Putin declared that the development of the nuclear triad "remains an absolute priority" for Russia, coming soon on the heels of the collapse of the New START nuclear treaty with the United States. The nuclear triad serves as the ultimate guarantee of Russia's security and allows the effective maintenance of strategic deterrence and the balance of power in the world, explained Putin, calling it "our absolute priority" . Countries like Russia, which are seen by the US either as rivals or even 'rogue' - are busy taking note of Iran now being threatened with regime change given it does not possess a nuclear deterrent . 1971 nuclear test off French Polynesia. Putin further emphasized in the context of strategic deterrence that Russia will enhance the potential of its armed forces and improve their combat readiness and mobility - as well as maintaining the ability to operate under the most complex conditions. He further pledged to accelerate the pace of research and development of advanced weapons and equipment for the military to ensure that they are in reliable hands, according to state media translation. "The development of the nuclear triad, which guarantees Russia’s security and enables us to effectively ensure strategic deterrence and balance of power in the world remains." —Putin As for the US-Russia New START Nuclear Treaty, it officially expired without renewal on February 4 . Since then Moscow has declared it will in good faith stick to the nuclear limits outlined in the now-expired arms control treaty, provided Washington does the same . And yet there's been relative quiet from the White House on the issue . For now it doesn't seem the US has made such a reciprocal pledge, leaving the world in uncertain and uncharted territory. Russia has also made clear that it has no intention of bein...
Micron Technology (NASDAQ: MU) is experiencing an AI-driven earnings explosion that could permanently reset its valuation. With tight memory supply, soaring data center demand, and margins above 60%, this may be more than a typical semiconductor cycle. If earnings remain elevated, $500 could be the next milestone, not the ceiling. Stock prices used were the market prices of Feb. 16, 2026. The vide...
Micron Technology (NASDAQ: MU) is experiencing an AI-driven earnings explosion that could permanently reset its valuation. With tight memory supply, soaring data center demand, and margins above 60%, this may be more than a typical semiconductor cycle. If earnings remain elevated, $500 could be the next milestone, not the ceiling. Stock prices used were the market prices of Feb. 16, 2026. The video was published on Feb. 22, 2026. Continue reading
PayPal Holdings Inc. , the digital payments pioneer, is attracting takeover interest from potential buyers after a stock slide wiped out almost half of its value, according to people familiar with the matter. The San Jose, California-based company has fielded meetings with banks amid unsolicited interest from suitors, the people said. At least one large rival is looking at the whole company, while...
PayPal Holdings Inc. , the digital payments pioneer, is attracting takeover interest from potential buyers after a stock slide wiped out almost half of its value, according to people familiar with the matter. The San Jose, California-based company has fielded meetings with banks amid unsolicited interest from suitors, the people said. At least one large rival is looking at the whole company, while some other suitors are only interested in certain PayPal assets, the people said, asking not to be identified because the information is private. Buyer interest in PayPal is still at a preliminary stage and may not lead to a transaction, the people cautioned. A representative for PayPal declined to comment. Founded in the late 1990s, PayPal was an early mover in the world of digital payments. But the company now finds itself in a rut with its customers increasingly turning to alternative ways to pay for things. PayPal’s shares have fallen around 46% in New York trading over the last 12 months, giving the company a market value of about $38.4 billion. Current board chair Enrique Lores is due to take up the role as president and CEO of PayPal on March 1. He will be tasked with getting to grips with a company that’s lost market share to rivals such as Apple Pay and Google Pay and failed to modernize its payments technologies. Former CEO Alex Chriss was ousted earlier this month after his turnaround plan fell short. The company’s fourth-quarter profit and revenue missed analysts’ estimates, according to results for the period that also showed a continued slowdown in payment volume. Read More: PayPal at Crossroads as Another New CEO Hired for Turnaround
Sundry Photography/iStock Editorial via Getty Images CBRE Group ( CBRE ) was raised to Buy from Neutral at UBS with the price target upped to $185.0 from $175.0, citing AI fears present a rare buying opportunity. The stock is trading ~11% below its 20-day simple moving average at about $145. "Specifically, investors worry that 1) CRE brokerage can be disintermediated by AI, and 2) broader AI trend...
Sundry Photography/iStock Editorial via Getty Images CBRE Group ( CBRE ) was raised to Buy from Neutral at UBS with the price target upped to $185.0 from $175.0, citing AI fears present a rare buying opportunity. The stock is trading ~11% below its 20-day simple moving average at about $145. "Specifically, investors worry that 1) CRE brokerage can be disintermediated by AI, and 2) broader AI trends will lead to white-collar job losses, which will negatively impact demand for office space," said analysts Alex Kramm and Nassime Bildman. "While AI could have some impact over time, we believe CBRE is actually positioned to benefit given its strong industry position and vast data assets," said the research note. "In the meantime, we are raising our estimates significantly, supported by strong industry trends and company guidance, which points to 14%-19% Y/Y growth in 2026," added the note. "We think the stock is pricing in only ~7% medium-term revenue growth, leaving room for upside," said the analysts. UBS raised its 2026 EPS estimate for CBRE by 5% to $7.55 on higher revenue, driven by better-than-expected guidance for brokerage and to account for the Pearce acquisition . The consensus is $7.51. 2027 estimate was raised by 7% to $8.75, vs. $8.80 consensus. UBS's rating aligns with the average sell-side analysts and Seeking Alpha authors rating of Buy. Meanwhile, the Quant Rating system grades the stock as Hold. More on CBRE CBRE Group, Inc. (CBRE) Q4 2025 Earnings Call Transcript CBRE Group, Inc. 2025 Q4 - Results - Earnings Call Presentation CBRE Group: A Good Mix Of Defensiveness And Growth CBRE shares down as Q4 GAAP earnings drop year-over-year CBRE targets $2B data center revenue and 17% EPS growth in 2026 while expanding AI-driven efficiencies
Cylonphoto/iStock via Getty Images In my initial piece on Ready Capital ( NYSE: RC ), Accounting Changes Mask Negative Adjusted Operating Cash Flows and Unsupported Dividend , I predicted a dividend cut, a reduction in book value, and a liquidity crunch due to the poor quality of RC’s loan book, the prevalence of Paid-In-Kind (PIK) interest, and the exhaustion of interest reserves. At the time my ...
Cylonphoto/iStock via Getty Images In my initial piece on Ready Capital ( NYSE: RC ), Accounting Changes Mask Negative Adjusted Operating Cash Flows and Unsupported Dividend , I predicted a dividend cut, a reduction in book value, and a liquidity crunch due to the poor quality of RC’s loan book, the prevalence of Paid-In-Kind (PIK) interest, and the exhaustion of interest reserves. At the time my article was published in December of 2024, RC was paying a dividend of $0.25/share a quarter. Subsequently, RC has cut its dividend twice, and it is currently paying $0.01 per quarter. However, the decline in book value and the liquidity issues that I foresaw have not yet fully materialized. At the end of 3Q25, RC still had a book value per share of $10.28 ( RC 3Q25 Financial Supplemental p. 3 ) versus a share price of $1.76 on 2/20/26. While the drastic reduction in the common dividend has removed a significant use of cash, I believe RC’s book value is poised to move lower, and near-term liquidity pressures may lead to the elimination of the common dividend and a reduction or suspension of the preferred dividend. Over the last two quarters, Distributable Earnings BEFORE Realized Losses have not even covered the preferred dividends for Ready Capital Preferred C (NYSE: RC.PR.C ) and Preferred E (NYSE:RC.PR.E), as shown below. RC 3Q25 Financial Supplement p. 20 Over the next couple of quarters, I expect RC’s operating cash flow to continue to deteriorate as it works through troubled loans originated in 2021 and 2022. Additionally, I suspect its book value and liquidity will come under pressure due to continued trouble at RC’s largest REO property, Block 216 in Portland, as well as continued loan sales and foreclosures across RC’s commercial real estate loan book. Furthermore, I think a valuation allowance against RC’s deferred tax asset is likely warranted due to recent changes in the SBA's standard operating procedures, which may affect the profitability of RC’s Funding Circ...
Alexander Shapovalov/iStock Editorial via Getty Images YTD, Tesla, Inc. ( TSLA ) shares have declined by ~10%: TrendSpider On one hand, the idiosyncratic contribution to this meaningful selloff for such a short period of time comes from its earnings report, released on January 28. In the fourth quarter, its EV deliveries were 418,227, implying a YoY decline of 15.6%; annual deliveries for the year...
Alexander Shapovalov/iStock Editorial via Getty Images YTD, Tesla, Inc. ( TSLA ) shares have declined by ~10%: TrendSpider On one hand, the idiosyncratic contribution to this meaningful selloff for such a short period of time comes from its earnings report, released on January 28. In the fourth quarter, its EV deliveries were 418,227, implying a YoY decline of 15.6%; annual deliveries for the year 2025 were ~1.64 million, about 8.4% lower than in the year 2024. Reuters framed it as the company losing its EV maker crown to BYD. Moreover, total revenue was down 3% YoY to $24.9 billion in the fourth quarter; automotive revenue was down 11% YoY. But more importantly, Q4 EPS declined to $0.24, representing a 60% YoY decline. It's obviously challenging for either the gross margin improvement of 386 bps to 20.1% or the 25% YoY growth of revenue generated by energy generation/storage to rescue the narrative. Investors are getting anxious about the growth engine. There is another ongoing issue, which ironically may change opinions in the long term. The market is probably debating what Tesla is right now. Should it view it as a mature automaker struggling to compete or an AI/autonomy player? The attempt to transition to a robotics/self-driving company is promising, but the market is clearly not willing to reward optionality so early. It is actually inclined to punish it if it means high capital expenditures in the near term. Sure enough, management expects CapEx to be in excess of $20 billion in 2026, partly (and probably largely) in connection with "investments in compute infrastructure and data centers." That's a big jump from the $8.5 billion spent in 2025. In the earnings call , CFO Vaibhav Taneja said that most of that spend would go to production lines and plants for Cybercab, Semi, Optimus, and battery/lithium production. The pivot to autonomous driving and robotics is obvious, and the uncertainty regarding its success is very high. Despite all that, if the market has ...
The S&P 500 Index ($SPX ) (SPY ) today is down -1.20%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -1.58%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.47%. March E-mini S&P futures (ESH26 ) are down -1.23%, and March E-mini Nasdaq futures...
The S&P 500 Index ($SPX ) (SPY ) today is down -1.20%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -1.58%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.47%. March E-mini S&P futures (ESH26 ) are down -1.23%, and March E-mini Nasdaq futures...