Wachirapong Sukkasemsakorn/iStock via Getty Images Portfolio Review Non-U.S. developed markets broadly advanced during the quarter. There was little divergence in performance among regions such as the U.K., the eurozone and Japan, while China was a notable underperformer. Most central banks cut or held their benchmark interest rates steady, except for Japan, which hiked to address inflation. Large...
Wachirapong Sukkasemsakorn/iStock via Getty Images Portfolio Review Non-U.S. developed markets broadly advanced during the quarter. There was little divergence in performance among regions such as the U.K., the eurozone and Japan, while China was a notable underperformer. Most central banks cut or held their benchmark interest rates steady, except for Japan, which hiked to address inflation. Large-cap stocks broadly performed best in non-U.S. developed markets. Artificial intelligence-related market uncertainty drove a broad rotation into value and away from growth. While investment in data centers has created optimism, concerns persist about financing, supply chain and power constraints. Investors also continue to consider the impact of AI on traditional business models. This led to deratings within growth-oriented sectors and a rotation into more value-oriented stocks. Consumer discretionary holdings detracted. Luxury automaker Ferrari ( RACE ) was the most notable individual detractor in the sector after the company gave conservative guidance. Among broadline retailers, Alibaba Group Holding ( BABA ) and Ryohin Keikaku ( RYKKY ) also weighed on relative performance. Sony Group ( SONY ) detracted after company shares pulled back primarily due to investors' profit-taking. Industrials positions were a source of weakness. Within the professional services industry, BayCurrent (BAYCF) was the primary individual detractor in the sector after the information technology consultancy reported mixed results. We have exited the position. RELX ( RELX ) also notably weighed on relative performance for the quarter. Underweight allocation to communication services helped. A lack of exposure to underperforming benchmark constituents in the communication services sector added to relative returns. Key Contributors Societe Generale ( SCGLY ). Shares of the France-based investment bank rose as the company reported strong quarterly results, with a boosted profit outlook due to a contin...
Salesforce on Wednesday evening delivered better-than-expected 2026 fourth-quarter results as its Agentforce artificial intelligence platform became increasingly embedded across the business. However, the stock dropped in after-hours trading as investors remained anxious about the potential of AI disrupting traditional enterprise software companies. Revenue in the quarter ended Jan. 31 rose 12% ye...
Salesforce on Wednesday evening delivered better-than-expected 2026 fourth-quarter results as its Agentforce artificial intelligence platform became increasingly embedded across the business. However, the stock dropped in after-hours trading as investors remained anxious about the potential of AI disrupting traditional enterprise software companies. Revenue in the quarter ended Jan. 31 rose 12% year over year to $11.2 billion, topping expectations of $11.18 billion, according to LSEG. Adjusted earnings per shar e totaled $3.81, beating the consensus estimate by 77 cents, LSEG data showed. On a year-over-year basis, adjusted EPS increased 37%. CRM YTD mountain Salesforce YTD Shares of Salesforce fell roughly 4.5% in the after-hours session to about $183 and not far from their 52-week closing low of $178.16. Bottom line Salesforce delivered a better than expected quarter, with revenue growth to double-digit territory, driven by strong Agentforce Sales and Agentforce 360 Platform, Slack, and Other sales. Meanwhile, the other three subscription and support revenue line items missed analyst forecasts. As for its important new product Agentforce, the AI-powered platform has closed more than 29,000 deals since its launch and is now an $800 million annual recurring revenue business. On the call, CEO Marc Benioff listed Amazon, Ford, AT & T, Moderna, General Motors, and Pfizer as global brands that have chosen Salesforce to lead their agentic transformation. We also appreciated commentary from the CEOs of SharkNinja and Wyndham Hotels & Resorts on the earnings call about how Agentforce is enhancing their operations. One of management's gripes is that the market doesn't understand and fully appreciate Agentforce, so it was refreshing to hear from real CEOs about the positive impact the product has had on their business. SharkNinja spoke about how Agentforce improved its customer service experience, while Wyndham said Agentforce is reducing labor costs and driving millions of ...
Brazilian President Luiz Inácio Lula da Silva personally convened a meeting in recent weeks with executives of prominent companies involved in talks to rescue distressed sugar and ethanol producer Raízen SA, signaling his concern over the fallout if they failed to reach a deal. Among the companies represented in the meeting with Lula were Raízen co-owners Cosan SA and Shell Plc, along with Banco B...
Brazilian President Luiz Inácio Lula da Silva personally convened a meeting in recent weeks with executives of prominent companies involved in talks to rescue distressed sugar and ethanol producer Raízen SA, signaling his concern over the fallout if they failed to reach a deal. Among the companies represented in the meeting with Lula were Raízen co-owners Cosan SA and Shell Plc, along with Banco BTG Pactual SA, according to people familiar with the matter. Also in attendance were Petróleo Brasileiro SA Chief Executive Officer Magda Chambriard , Finance Minister Fernando Haddad and the head of Brazil’s development bank, Aloizio Mercadante , the people said, asking not to be identified discussing private talks. The meeting was held in Brasília before the Carnival holiday and ahead of Lula’s trip to Asia on Feb. 18. Days later, Raízen formally sought financial backing from its main shareholders after another dismal quarter, and talks have heated up on how to resolve the company’s leverage and liquidity concerns. The office of the presidency didn’t have an immediate comment. Cosan, Shell, Raízen, the development bank BNDES and Haddad declined to comment. BTG didn’t respond to requests for comment. In a statement, Petrobras said Chambriard didn’t attend any meeting to discuss Raízen. Growing Concern Lula’s involvement underscores mounting concern within the government over Raízen’s financial distress at a sensitive political moment, with the president looking to bolster investor confidence and economic growth as he seeks reelection. Raízen is one of the world’s largest sugar and ethanol producers and a key player in Brazil’s biofuels sector, an industry central to Lula’s energy transition agenda. Read more: How Brazil’s Sugar Powerhouse Raízen Became a Penny Stock In the meeting, one of the topics discussed was the possibility of selling some strategic Raízen assets to Petrobras, one of the people said. However, the partnership didn’t move forward given that alternative ...
Iran's Nuclear Complex: A Post-12-Day War Refresher The June 13-24, 2025, “12-Day War” was a direct escalation of long-standing tensions. Israel launched Operation Rising Lion with massive airstrikes on Iranian nuclear and military targets, later joined by U.S. strikes on June 22 targeting key enrichment and conversion sites. The campaign aimed to degrade Iran’s nuclear program, which the IAEA had...
Iran's Nuclear Complex: A Post-12-Day War Refresher The June 13-24, 2025, “12-Day War” was a direct escalation of long-standing tensions. Israel launched Operation Rising Lion with massive airstrikes on Iranian nuclear and military targets, later joined by U.S. strikes on June 22 targeting key enrichment and conversion sites. The campaign aimed to degrade Iran’s nuclear program, which the IAEA had declared non-compliant days earlier. While physical damage was extensive, Iran retained its scientific expertise, much of its enriched uranium stockpile (~400 kg of 60% Highly enriched uranium, HEU) and is now fortifying deeper underground facilities. With U.S.-Iran talks ongoing and satellite imagery showing repair and hardening efforts, here is a site-by-site status update on the major facilities. Tehran Nuclear Research Center (TNRC) and Research Reactor The TNRC houses Iran’s primary research reactor: the Tehran Research Reactor (TRR), a 5 MW light-water unit supplied decades ago by the U.S. and used for medical isotope production and research. It operates on high assay low-enriched uranium (HALEU) and remains under IAEA safeguards. During the war, one building linked to centrifuge or fuel activities sustained damage, but the TRR avoided any issues. No major radiological issues were reported. Natanz Uranium Enrichment Complex Iran’s flagship enrichment site in central Iran features the underground Fuel Enrichment Plant (FEP) and above-ground Pilot Fuel Enrichment Plant (PFEP). Israeli strikes destroyed most of the above-ground infrastructure, while subsequent U.S. bunker-busters further damaged underground halls. Centrifuge cascades were severely affected, rendering large-scale enrichment inoperable. As of early 2026, satellite imagery shows limited cleanup, roof repairs over damaged structures, and fortification of utilities. The site remains a shadow of its former capacity. Fordow Uranium Enrichment Complex Buried deep in a mountain, this hardened site was Iran’s key...
A consortium comprising CK Infrastructure Holdings, CK Asset Holdings and Power Assets Holdings has agreed to sell all of its interest in UK Power Networks to French multinational electric utility Engie in a deal worth £10.5 billion (US$14.2 billion). The disposal, under an agreement signed on Wednesday, will enable the group to monetise its investment at an attractive valuation, delivering a sign...
A consortium comprising CK Infrastructure Holdings, CK Asset Holdings and Power Assets Holdings has agreed to sell all of its interest in UK Power Networks to French multinational electric utility Engie in a deal worth £10.5 billion (US$14.2 billion). The disposal, under an agreement signed on Wednesday, will enable the group to monetise its investment at an attractive valuation, delivering a significant accounting gain and cash proceeds for future investments or acquisitions, the group of...
In this article AMD META NVDA ORCL CRM SNOW Follow your favorite stocks CREATE FREE ACCOUNT South Korea's central bank raised its key interest rate by a quarter-percentage point as expected on Thursday, in a bid to contain inflation and prevent capital outflows as the U.S. Federal Reserve gears up for more hikes. Jung Yeon-je | Afp | Getty Images Japan's Nikkei 225 hit another record Thursday as A...
In this article AMD META NVDA ORCL CRM SNOW Follow your favorite stocks CREATE FREE ACCOUNT South Korea's central bank raised its key interest rate by a quarter-percentage point as expected on Thursday, in a bid to contain inflation and prevent capital outflows as the U.S. Federal Reserve gears up for more hikes. Jung Yeon-je | Afp | Getty Images Japan's Nikkei 225 hit another record Thursday as Asia-Pacific markets climbed, tracking Wall Street gains as technology stocks rose overnight. The Nikkei 225 rose 1.1% to an all-time high of 59,199. 31, while the Topix added 1.45%. South Korea's Kospi rose 1.65%, while the small-cap Kosdaq advanced 0.57%. Australia's S&P/ASX 200 gained 0.8%, also hitting a record high in early trade. Hong Kong Hang Seng index futures last traded at 26,947, higher than the HSI's Wednesday close of 26,765.72. The Bank of Korea is set to release its rate decision later in the day. South Korea's central bank is expected to keep interest rates unchanged, according to economists polled by Reuters. South Korean chipmakers Samsung Electronics and SK Hynix rose 1.97% and 2.26%, respectively. Overnight in the U.S., equities rose, supported by Nvidia and Oracle , as stocks built on the gains from the prior trading day. The S&P 500 added 0.81% to close at 6,946.13, and the Nasdaq Composite advanced 1.26% to 23,152.08. The Dow Jones Industrial Average rose 307.65 points, or 0.63%, to settle at 49,482.15. Nvidia posted fiscal fourth-quarter results that topped Wall Street expectations, fueled by a 75% surge in revenue from its core data center segment. Shares gained as much as 2% in extended trading following the release. The company reported adjusted earnings per share of $1.62, beating the $1.53 forecast from analysts surveyed by LSEG. Revenue totaled $68.13 billion, above estimates of $66.21 billion. —CNBC's Sean Conlon and Pia Singh contributed to this report.