Bentley Systems press release ( BSY ): Q4 Non-GAAP EPS of $0.27 beats by $0.01 . Revenue of $391.6M (+11.9% Y/Y) beats by $9.81M . Subscriptions revenues were $356.6 million, up 13.0% or 10.8% on a constant currency basis, year-over-year; Annualized Recurring Revenues (“ARR”) were $1,462.1 million

一创固收：国债期货收盘集体下跌，利率债收益普遍上行 2月26日，央行公开市场7天OMO投放3205亿元，到期4000亿元，净回笼795亿元。全天资金均衡偏松，平稳基本没有波澜。 债券市场整体走弱，国债期货收盘集体下跌，30年期主力合约（TL2606）收跌0.53%报112.090元，10年期主力合约（T2606）收跌0.10%报108.370元。银行间主要利率债活跃券收益率普遍上行，10年期国债、国开债及30年期国债活跃券分别上行1.20BP、2.15BP、2.00BP至1.8100%、1.9785%、2.2510%。 中信证券：债市延续弱势，长端及超长端承压 今日债市延续弱势，现券收益率普遍上行，长端及超长端承压。税期扰动渐近尾声，今日资金面边际转松，但国债期货开盘下挫带动现券收益率快速上行，上午基金、券商等交易盘卖出情绪较浓，国债期货跌幅持续扩大，10年国债活跃券上破1.81%关口。午后股市见顶回落，TL转为窄幅震荡，市场情绪有所企稳，现券收益率横盘整理直至尾盘。 东兴证券：Shibor 多数下跌，信用债交投分化 2月26日，人民币兑美元中间价报 6.9228，较上日调高 93 点；Shibor 多数下跌，隔夜、7 天、14 天、3 月分别下跌 1.00 个、4.00 个、4.20 个、0.30 个基点，1 月与前一交易日持平。 今天利率债交投一般，银行间主要利率债收益率震荡上行。信用债方面，“二永债”收益率多数上行，仅1Y个别品种小幅下行，其余各期限相关品种均有不同幅度上行。中票交投活跃度一般，收益震荡，成交在估值附近；公司债企业债交投活跃，收益下行，需求集中在1-3年AAA品种。交易所市场中，产融债、地方债均呈现涨跌互现态势，特别国债多数下跌。中证转债指数跌1.03%至525.93点，成交额691.88亿元，个券涨跌分化显著。 华创资管：盘面无明显利空，建议配置盘加大配置力度 2月25日，上海市五部门联合印发《关于进一步优化调整本市房地产政策的通知》，内容包括进一步调减住房限购政策、优化住房公积金贷款政策、完善个人住房房产税政策等。实际上，2025年8月25日也放松过，细节基本围绕：放松限购；鼓励多贷款，公积金或者商业贷款；完善房地产税收。 上海房地产新政导致债券调整，政策放松的效果仍有待观察，存在较大的不确定性。债券市场也不用悲观，利率反弹的阶段，机构可以...

Kymera Therapeutics press release ( KYMR ): Q4 GAAP EPS of -$0.97 misses by $0.18 . Revenue of $2.9M (-60.8% Y/Y) misses by $11.9M . More on Kymera Therapeutics Kymera Therapeutics: The More This Biotech Spends, The Higher Its Valuation Rises Kymera Therapeutics, Inc. (KYMR) Presents at 44th Annual J.P. Morgan Healthcare Conference - Slideshow Kymera Therapeutics, Inc. (KYMR) Presents at 44th Annual J.P. Morgan Healthcare Conference Transcript Kymera Therapeutics Q4 2025 Earnings Preview Kymera Therapeutics prices $602M public offering at $86.00 a share

Vital Farms press release ( VITL ): Q4 GAAP EPS of $0.35 misses by $0.04 . Revenue of $213.6M (+28.7% Y/Y) beats by $0.77M . Gross Margin of 35.8%, compared to 36.1% Net Income of $16.3 million, compared to $10.6 million Net Income per

The value of collateral assets used by banks for commercial property loans is expected to continue declining in 2026, according to S&P Global Ratings, as the sector has yet to find a clear bottom. “More collateral pain is likely this year for Hong Kong banks,” the credit rating agency said in a report published on Thursday, adding that a subset of small banks could face more acute strain. That assessment comes as Hong Kong’s commercial property market remains on a sustained downturn that started...

Dragos Condrea/iStock via Getty Images Intro We last wrote on Kforce Inc . ( KFRC ) in September of last year when we downgraded the stock to a 'Sell' due to a significant trend-line breach, negative revenue growth, and bearish EPS revisions. To recap, Kforce is a professional US-based staff solutions provider that operates in both the technology and Finance and Accounting (FA) segments. The recent muted performance of the more important tech segment (due to higher bill rates and revenues) was also a crucial factor in our downgrade of the stock. Although shares have lost solely 4% since our rating downgrade, we believe further downside is plausible for the following reasons. Bullish Reaction To Q3 Earnings Release Not Repeated For Q4 Shares actually delivered a much-needed respite on the release of the company's Q3 earnings (11/3/2025) when GAAP earnings of $0.63 per share surprised to the upside by 11%+. As alluded to earlier, the main precursor for the post-earnings rally was the improvement in working consultants in the technology segment. Furthermore, the fact that the company's Q3 release came well into the fourth quarter, management's expectations were high that tech momentum (With respect to customer-led AI solutions) at the time would continue over the following two months of the fourth quarter until the end of December 2025. Although management talked up the revenue beat in the fourth quarter (Q4 earnings released 2/2/2026), investors seemed to key more into the bottom-line result (GAAP earnings of $0.30 per share), which missed the consensus estimate by quite a margin ($0.17 per share). Furthermore, the outlook for Q1 was not very encouraging, given that management left the possibility of one-time items emerging in the three months open. Forward-Looking Guidance Growth Concerns On the Q4 earnings call, management cited a Q1 top-line expectation of approximately $328 million, which, if met, would be approximately $2 million short of Q1 of fiscal 2025 ($330 ...

伊朗塔斯尼姆通讯社称，伊美核谈判暂停，计划于日内瓦当地时间傍晚恢复。(新浪财经)

Primecap Management Co. CA Sells 921,845 Shares of Qualcomm Incorporated $QCOM MarketBeat

Intel Corporation $INTC Shares Bought by K.J. Harrison & Partners Inc MarketBeat

K.J. Harrison & Partners Inc Invests $3.05 Million in Oracle Corporation $ORCL MarketBeat

Gargolas/iStock via Getty Images NextEra Energy ( NEE ) -1% pre-market Thursday after saying it plans to sell $2B of equity units in a public offering , with an underwriters option to purchase up to an additional $300M of equity units to cover any over-allotments. Each equity

Down 70% over the past year -- and down 60% over just the last three months -- Hims & Hers Health (NYSE: HIMS) stock is in a funk, and Monday night's earnings report didn't help. Shares of the telemedicine company have slid steadily since the FDA announced early last year that Novo Nordisk 's (NYSE: NVO) Wegovy and Ozempic GLP-1 weight loss drugs are no longer in shortage. Since that news came out, the writing has seemed to be on the wall for Hims & Hers Health and its business of compounding copycat weight loss drugs for direct sale to patients. Throw in a bit of price competition from branded manufacturers of GLP-1 drugs, Novo Nordisk and Eli Lilly (NYSE: LLY) , who have cut prices as much as 80%, and Hims' growth slowed significantly in the fourth quarter of 2025. Continue reading

ATI launches new $500M buyback, signaling confidence in aerospace demand, cash flow and long-term earnings growth.

Shares in Baidu were sliding on Thursday after weak advertising spending dragged down the Chinese search-engine provider’s profit and revenue. Baidu’s American depositary receipts dropped 2.7% to $129.80 ahead of the opening bell. Baidu reported fourth-quarter net income of 1.78 billion yuan ($255 million) on revenue of 32.74 billion yuan.

百濟神州：海外監管公告 富途牛牛

百濟神州：海外監管公告 富途牛牛

JHVEPhoto/iStock Editorial via Getty Images Taylor Morrison Home Corporation ( TMHC ) has essentially gone nowhere since I wrote about it as my top pick for the bearish-to-bullish reversal in the stocks of home builders . That reversal lasted just another few more weeks before builders sank into another bear market (based on price levels for the iShares US Home Construction ETF (ITB)). That fresh sell-off was timely as it provided a good risk/reward entry for the seasonal trade in home builders . Since accumulating shares in TMHC, I traded against the current price range, mainly by selling call options near the highs. Last week, 40% of my position was finally called away. This week, I started buying shares again after TMHC fell as much as 4.5% in the wake of the President reiterating his call for a ban on institutional purchases of single-family homes. More price discounts could be on the way given the tepid feel of TMHC’s latest earnings . While TMHC has had a strong start to the year, it is mainly a range-bound stock ( tradingview.com ) Tepid Guidance TMHC traded positively in the days following its earnings report. Perhaps the market was relieved that the tepid guidance was not worse. Overall, the company projected declines in 2026 as a focus continues on tight inventory management (spec count declined 11% from Q3 to Q4) and returning “excess capital” to shareholders. Here are some key comparisons between 2026 guidance and 2025 results with the percent changes in parentheses: Home closings (deliveries) : ~11,000 vs. 12,997 (-15%) Average closing price : $580,000 to $590,000 vs. $597,000 (-2% at the midpoint) Home closings gross margin : starting at 20% in Q1 and increasing “gradually throughout the year,” more visibility to come vs. 22.5% Ending active community count : 365 to 370 vs. 341 (+8%) The home closings and average closing price guidance imply revenue in 2026 will decline 17% or so year-over-year. This sharp drop is surprising given the plan for increasi...

Massimo Giachetti/iStock Editorial via Getty Images Today, as the market sells technology to buy stable consumer goods, industrials, and energy, a question arises: is something truly serious about to happen to predominantly technology-based indices like the Nasdaq-100, or is this an opportunity? I ask myself this while looking at the performance of the Invesco NASDAQ 100 ETF ( QQQM ). Fear in the market is increasing, yet expectations for earnings and revenues ultimately have not changed; they remain at record levels. This creates a valuation gap that is hard to ignore. A gap that I am personally taking into consideration. But before getting into the heart of the matter … What Is QQQM QQQM is a passive ETF that replicates the Nasdaq-100 Index with the objective of tracking the index’s performance before costs and expenses using a full replication modified market-cap weighting methodology. QQQM (Seeking Alpha) This means it is a sort of hybrid between equal weight and market cap weight, setting a maximum limit per single stock of 24% absolute maximum and 15% during the annual reconstitution (December) and quarterly rebalancing. Attention: It can concentrate more than 25% in a single sector. The fund has an expense ratio of 0.15% annually , a practically negligible bid/ask spread (0.01%), and a 6% annual turnover (very low), covered by a minimum yield of 0.51%. Holding distribution There are 100 stocks which , as we well know, show a clear bias toward growth. This is also because the Nasdaq-100 excludes financials. At the same time, it brings an overexposure to technology (51%), which today is the heaviest sector within the index. QQQM has double or triple the technological exposure compared to global indices. And if we were to also consider sectors now regarded as quasi-technological, such as communications and consumer discretionary, we would reach almost 90% exposure to the tech and para-tech segment. QQQM - Holding Breakdown (Seeking Alpha) This leads to extreme c...

财联社2月26日讯（记者 林坚） 作为B股市场时隔两年再度出现的私有化要约案例，瓦轴B私有化退市进程步入倒计时，2月27日将是最后一个交易日，这意味着留给中小投资者操作的时间已经非常有限。截至2月25日晚间，公司已连发五次提示性公告。 作为我国资本市场上特定历史时期的产物，近年来，随着海外融资渠道的不断拓宽，B股的功能逐步被其他金融市场所替代，融资功能接近丧失，2001年以来，已有35只B股退市，截至当前，资本市场还剩79只B股。 瓦轴B私有化退市备受关注，这是2023年山航B退市后，B股市场时隔两年再度出现的私有化要约案例。不同于常规退市流程，本次收购从规则设置到时间安排均有特殊条款，成为市场关注的核心。对于持有瓦轴B股份的投资者而言，当前操作时点至关重要，有三个重点值得把握，简单来看，就三句话： 一是2月27日最后交易时段按2.86港元/股申报预受要约，是锁定价格、实现市场化退出的高性价比选择。 二是若私有化收购因预受股份未达标而失败，瓦轴B将留存在B股市场，股东将面临股价下跌、无明确退出通道的更大损失。 三是若私有化成功但剩余股东超200人，公司将转入股转系统，可能陷入有价无市的局面，股东仍面临“负收益”。 瓦轴B公司已连发五次提示性公告，强调收购期限。 重点一：最佳时间窗口仅剩一天 本次要约收购由瓦轴B控股股东瓦房店轴承集团有限责任公司于2026年1月正式发起，核心目标为终止瓦轴B上市地位，本次要约收购的首个特殊点，在于未设置退市整理期。 这意味着，一旦要约期满且达到生效条件，瓦轴B将直接进入终止上市程序，股东无法通过整理期在二级市场完成最后的股份交易，所有退出操作均需在要约期内完成。瓦轴B股票将自深交所公告终止上市决定之日起5个交易日内予以摘牌。一旦终止上市后，未退出股东或将面临股份价值大幅缩水的风险。 要约收购期限自2026年1月20日起至2月27日结束，因此2月27日是最后一天，如果想以比较合适的收益结果退出，投资者应在2月27日交易时段完成操作，这一时间安排凸显了投资者速决策的紧迫性。本次预受要约申报代码为990087，申报价格为2.86港元/股。 “对于尚未接受要约的股东，应尽快明确规避未来流动性匮乏风险，确保股份高效退出，目前来看，这是给上市公司的中小投资者，特别是对于长年没有流动性的B股中小投资者来说，这是难得的退出渠道。”有人士提到。 重点二...

Nutanix Stock Soars. AMD Strikes AI Deal in Wake of Meta Tie-Up. Barron's

The chip maker enjoyed a boost from its partnership with Meta Platforms, and now it's helping lift Nutanix.

Middleby press release ( MIDD ): Q4 Non-GAAP EPS of $2.14. Revenue of $866M (+5% Y/Y) and full year 2026: 1st Qtr, 2026 Full Year 2026 Commercial Foodservice Food Processing Total Company Commercial Foodservice Food Processing Total Company Net sales $560-$578 M $200-210 M $760-788 M $2.37-2.43 B $895-925 M $3.27-3.36 B Growth 1% 22% 6% 2% 7% 4% Organic Growth 1% 10-15% 1-3% 4-6% Adjusted EBITDA $142-152 M $37-41 M $161-173 M $632-658 M $186-208 M $745-780 M Adjusted Earnings Per Share (1) $1.90-2.02 $9.20-9.36 Click to enlarge More on Middleby Middleby Making Smarter Moves, But Weak Industry Demand Is A Significant Overhang The Middleby Corporation (MIDD) M&A Call Transcript The Middleby Corporation (MIDD) 26North Partners LP, - M&A Call - Slideshow Middleby Q4 2025 Earnings Preview Middleby to sell 51% stake in Residential Kitchen business at $885M

Rhythm Pharmaceuticals press release ( RYTM ): Q4 GAAP EPS of -$0.73 beats by $0.07 . Revenue of $57.3M (+37.0% Y/Y) beats by $1.09M . Guidance December 31, 2026 Rhythm anticipates approximately $385 million to $415 million in Non-GAAP operating expenses. Non-GAAP operating

记者采访相关上市公司获悉，分散染料主要产品春节后继续涨价，其中分散黑春节后加速上涨，目前报价25000元/吨，较节前上涨4000元/吨。从1月中下旬到现在，总计上涨了9000元/吨。有相关上市公司人士表示，从历史来看，当前的价格仍处于中等水平。（财联社）

Nigeria extended a ban on shea nut exports by a year, reinforcing a drive to curb raw commodity shipments and boost local value addition. The extension aims to “deepen processing capacity within Nigeria, enhance livelihoods in shea-producing communities, and promote the growth of Nigerian exports anchored on value-added products,” President Bola Tinubu said in a statement Thursday. Nigeria is trying to shift the shea nut industry from exporting mostly raw produce to processing more high-value products like shea butter and its derivatives, which can fetch prices as much as 20 times higher, according to the presidency. The initiative has been blunted by a lack of processing infrastructure, a large informal trade and enforcement challenges. Prices of the nuts slumped by a third after Nigeria in August joined other producers in West Africa by announcing a moratorium on shipments. They traded at about 850 naira (63 US cents) a kilogram at the end of the harvest season in December, according to Lagos-based commodities exchange AFEX. Read More: Shea Nut Prices Plunge After Nigeria Bans Exports The production of shea butter in Nigeria is dominated by smallholders and women in rural villages in central Nigeria, where a growing number of attacks by extremists groups are devastating local communities. Intermediaries who move products from smallholders to markets have also left the trade after the ban came into effect, resulting in lost contracts, the National Shea Products Association of Nigeria told a local newspaper . Slow-growing shea trees are indigenous to west and central Africa, with Nigeria producing about 500,000 tons of the fruit annually and accounting for 40% of global supply that’s valued at $6.5 billion, according to the government. Burkina Faso, Ghana, Mali, Ivory Coast and Togo — all of which restrict exports to promote domestic processing — are the other main producers. Shea butter can be used as a substitute for cocoa butter and US regulators have granted app...

节后钨原料价格持续飙升，钨粉已突破1800元/公斤，刀具行业迎来新一轮集中涨价，节后华锐精密、新锐股份等已相继上调产品价格。财联社记者从业内人士获悉，目前部分头部刀具企业产能拉满，消化春节假期订单积压，产品交付周期由此前的1个多月延长至2-3个月。头部厂商凭借原料储备与规模优势，可通过调价平滑成本，本轮产品调价15%以上基本可覆盖成本压力。成本端上涨正在加速行业洗牌，国产刀具性价比优势进一步凸显，高端领域进口替代进程加快。（财联社）

消费行业在过去一年并没有出现预期的反弹，反而进入了更深层次的价值观考验。 始祖鸟炸山、贾国龙对战罗永浩、行业巨头的成分危机……2025年品牌“翻车”不断， 大家面临的不再拘于企业经营&利润层面问题，还有更广泛的公众沟通和品牌信任挑战。 从表层来看，行业貌似迎来一个品牌公关事件高发期，需要更强的救火能力。但在一个事件发生后，很多企业又接连在不同的雷区蹦迪，甚至火越扑越大。 这就不由让我们深思，除了公关能力建设， 品牌老板的底层意识、整个公司在系统建设上，还可以真正思考和做些什么？ 带着这些疑惑，浪潮新消费在年前最后一周联合36家头部品牌开启了「2026新浪潮品牌公关共创会」。 活动上， 品牌管理专家李倩从舆论新风向切入，深度分享了过去一年品牌“雷区”的核心特点，品牌公关面临的现实困境，如何在当前环境下构建品牌安全战略和预警系统。 李倩曾担任腾讯新闻主编、青山资本董事总经理，以及创业做过C端、B端的品牌，具备投资、实业、媒体、营销等多元视角，也是多家上市公司品牌顾问。这让她对品牌打造、构建品牌信任有着更本质和体系化的积累。 “信息和反馈正在出现一种前所未有的割裂和复杂情况。” 在她看来，如今网络舆论七嘴八舌宣泄自我的背后，指向的是集体价值观的单一发展。 而很多无法解决的舆论危机背后，往往早有苗头。从电商评论区到小舆情事件，精准识别小灾难的能力远超事后急救的重要性，品牌需要重视这些预警信号。 面对企业产品和运营等确实存在漏洞、老板的“骄傲”和“偏见”、信任权限缺失等现实问题，她给品牌公关提供三个柔性建议和一个刚性建议。 希望她的思考，能为身处变局的品牌提供一份可落地的应对指南。 今天这个话题不好聊，因为2025年并不是正常的年份。老板、媒体、品牌公关……都不再按常理出牌，大家一贯理解的做法似乎都已失效，世界好像“翻车”了。 更关键的是， 现在的公众很难被统一评价。 以前我们总能在《乌合之众》《弱传播：舆论世界的哲学》等经典书籍中找到对策，但现在，公众分裂成无数个声音，每个角度都看似有道理，一时间甚至不知道该帮谁，这也是我从业多年第一次遇到的状况。 通过多视角的观察，我认为 品牌是无处不在的质感，是方方面面的体验 。品牌的本质是信息，品牌、公关就是把公司的信息转化成内容体验的工作。 2025是品牌公关的尴尬之年，但也预兆着变化的开始，所以更是里程碑式的一年。 很多品牌都在重...

bit245/iStock via Getty Images CAVA Group ( CAVA ) is a company I like. It still has a lot of room to grow, few stores, but they have already proven profitable, a large addressable market, everything you want to see from a company in the

jmmf/iStock via Getty Images Thesis Galapagos NV ( GLPG ) reported a FY25 GAAP EPS of €4.87 and revenue of about €1.11 billion. Now, this figure is up about 303% year over year, but we have to keep in mind that it is largely reflecting

KenWiedemann/iStock Unreleased via Getty Images Last month, I was in Ann Arbor to teach a class on REIT investing at the University of Michigan: I was fortunate to get this opportunity thanks to Joey Agree, the CEO of Agree Realty Corporation ( ADC ), who connected