Willie B. Thomas/DigitalVision via Getty Images Assessing Willdan's Q4 2025 Report As I'm writing these lines, the quotes of Willdan Group, Inc. ( WLDN ) stock are falling by almost 22% amid the firm's Q4 2025 results release. All the gains we've seen in it since early December 2025 have now gone: Seeking Alpha, my previous article on WLDN At first glance, I see little reason for panicking. Yes, the guidance seems quite weak because of the sunsetting tax incentives, but the business is still growing rapidly (and it’s not just about past momentum). The data‑center‑related revenue streams should help WLDN sustain its leading niche position, and its balance sheet , which only improved in Q4, promises better flexibility ahead as WLDN enters its next phase of strategic growth. I'd consider buying this dip, so I remain bullish on Willdan in the medium term - especially after its forward valuation reset on this post‑earnings dip. Why Do I Think So? Willdan, as analysts usually write in such cases, showed mixed Q4 results because it beat on the bottom line (by 105%, actually), but at the same time, it failed to beat on the top line, missing the consensus estimates by 0.47%. The past beats/misses dynamics show that it's always been OK for Willdan to beat on EPS and miss on revenues in the same quarter, so it's not the real reason for the stock's post-earnings 22% meltdown. What really moved WLDN so much lower was likely the valuation reset based on management’s outlook for 2026. The thing is that the management set the FY2026 EPS guidance range at $4.50-4.70, while for the whole FY2025, Willdan has managed to make $4.89 (+101% YoY to FY2024, by the way). WLDN's press release The effective YoY decline in FY2026 EPS should be ~5.9% if we take the midpoint of the updated guidance. For a growth stock that traded at above 40x forward earnings, it's no surprise that the stock reacted so negatively. The main reason why the management decided to guide so low lies in the normalizatio...

要点速读 Block CEO杰克·多西裁减公司近半数员工的举措，使美国企业界面临的一个日益突出的问题备受关注：人工智能的进步最终是否意味着更少的就业岗位。 然而，经济学家质疑此类举措是预示着劳动力市场的广泛转变，还是仅仅反映了公司特定的调整。 经济学家克劳迪娅·萨姆表示：“自动化、大规模裁员不一定是唯一的出路。” Block CEO杰克·多西裁减公司近半数员工的举措，使美国企业界面临的一个日益突出的问题备受关注：人工智能的进步最终是否意味着更少的就业岗位。 在周四的财报电话会议上，多西表示Block将裁员约4000人。 多西将此举不仅仅定义为一项削减成本的行动，而是将其描述为随着人工智能日益成为商业决策核心，公司运营方式正在发生的转变。 他还暗示其他公司将会效仿。 “我不认为我们是意识到这一点的先行者。我认为大多数公司都落后了，”他说。“我相信在未来一年内，大多数公司都会得出同样的结论，并做出类似的结构性调整。我宁愿诚实地、按照我们自己的节奏达成目标，也不愿被动地被迫改变。” 然而，经济学家质疑此类举措是预示着劳动力市场的广泛转变，还是仅仅反映了公司特定的调整。 RSM首席经济学家约瑟夫·布鲁苏埃拉斯表示：“这是快速扩张时期宽松判断以及随后收缩的结果。应该在该公司特有的背景下理解这一事件，它并不预示着美国整体劳动力市场面临风险。” 关于就业的疑虑 此次裁员发生之际，正值人们对就业状况产生更广泛的疑问。 尽管裁员数量仍保持在低位，失业率也处于相对健康的4.3%，但职位空缺已大幅收缩，2025年的招聘基本持平，平均每月仅新增就业1.5万人。 尽管如此，与科技相关的领域看起来相对健康。 作为科技行业代表之一的信息行业，1月份的失业率降至5%，比一年前下降了0.7个百分点。该行业的职位空缺有所减少，但对某些职位的需求依然坚挺：根据Indeed的数据，软件开发领域的职位发布量比一年前增长了12%。 大多数经济学家对劳动力市场仍持乐观态度，即使在当前“低招聘、低裁员”的环境下也是如此。 New Century Advisors首席经济学家克劳迪娅·萨姆周五上表示，虽然讨论人工智能的潜在影响是“健康的”，但重要的是不要过度解读个别公司的决定。 萨姆说：“我不会从Block的情况推断整个美国经济。重要的是要理解，这些人工智能工具——你选择的发展方向实际上取决于领导层。自动化、大规模...

Selcuk Oner/iStock Editorial via Getty Images Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Read more about the events that may impact stock prices next week. Sunday - March 1 All day - Eight key OPEC+ nations will hold their monthly video conference and decide on production levels for April. Data watch - Key data reports expected to arrive include deliveries reports from Nio ( NIO ), XPeng ( XPEV ), Li Auto ( LI ), and BYD Company ( BYDDF ), as well as the monthly Macau gross gaming revenue release. Monday - March 2 Volatility watch - AST SpaceMobile ( ASTS ) and Xenon Pharmaceuticals ( XENE ) are set up for a volatile week of trading based on options volume. The most overbought stocks per their 14-day relative strength index include ATI Inc. ( ATI ), Keysight ( KEYS ), and Nordic American Tankers ( NAT ). The most oversold stocks per their 14-day Relative Strength Index include Gossamer Bio ( GOSS ), FuboTV ( FUBO ), and Oddity Tech ( ODD ). Short interest is elevated on software stocks UiPath ( PATH ), Duolingo ( DUOL ), Coreweave ( CRWV ), and RingCentral ( RNG ). Earnings watch - Notable companies due to report include Progressive ( PGR ), MongoDB ( MDB ), Riot Platforms ( RIOT ), and EchoStar ( SATS ). Options trading implies a double-digit swing in share price for AST SpaceMobile ( ASTS ) and Asana ( ASAN ) after they report. Dividend watch - Companies that have an ex-dividend date coming next week include Allstate ( ALL ), Lam Research ( LRCX ), Cigna ( CI ), and Qualcomm ( QCOM ). IPO watch - MiniMed Group ( MMED ) will start trading after being separated from Medtronic ( MDT ), which will still own about 90% of the company. The analyst quiet period expires on Forgent Power Solutions ( FPS ), Eikon Therapeutics ( EIKN ), Bob’s Discount Furniture ( BOBS ), and VeraDermics ( MANE ) to free up analysts to post ratings. All week - The Department of Justice antitrust trial against Live Nation–Tic...

在美国最高法院裁定特朗普大部分关税违宪后的几天里，已有100多家公司提起新诉讼，外界担心即便政府已经收缴了数百亿美元关税，也绝不会轻易退还。 众多上市公司和家喻户晓的品牌也加入了这一行列。 联邦快递 周一提起诉讼，随后戴森、达乐公司（Dollar General Corp．）、博士伦、Brooks Brothers以及Sol de Janeiro USA Inc．紧随其后。鞋业公司On Holding AG和斯凯奇（Skechers USA Inc．）及化妆品巨头欧莱雅的子公司也已提起诉讼，追讨此前支付的进口关税。 最高法院大法官们对退款问题保持沉默，将“回款”事宜留给位于纽约的美国国际贸易法院（US Court of International Trade）处理。 周五，司法部将就最高法院审理的原始诉讼的后续步骤发表意见，从中可能反映出政府愿意多快采取行动解决这些日益增加的索赔要求。 特朗普此前曾暗示政府可能会反对退款，或者至少不会让进口商轻易拿到这笔钱。在过去的10个月里，这些商户已支付了超过1，700亿美元的关税。2月20日的裁决出炉后，特朗普表示：“我想这必须通过诉讼解决，”其推测可能需要数年时间。 根据分析，最新一批案件已使关税诉讼总数超过2，000宗。对于贸易法院来说，这是一个沉重负担，而且其数量仅仅代表了受最高法院裁定影响的数十万进口商中的一小部分。 联邦快递在一份声明中表示，“如果退款发放给联邦快递，我们将把这些款项退还给最初承担这些费用的托运人和消费者。” 大多数提起诉讼的是规模较小的企业。虽然许多大型上市公司能够转移供应链、与供应商和工厂谈判、或者干脆自行消化关税成本，但小企业往往没有同样的灵活性或话语权。联邦快递等主要上市公司的加入为其他公司提起诉讼创造了额外的动力。 贸易律师David Craven表示，当联邦快递和Costco这样的大公司参与进来时，会减少其他企业对白宫“报复”的恐惧。 尽管如此，没有人指望问题能迅速解决。美国服装鞋袜业联合会执行副总裁Nate Herman表示：“这笔钱绝不是你短期内能指望上的。” 后续问题 贸易法院此前一直自动暂停关税案件，直到最高法院宣判。通常情况下，最高法院正式结案需要一个多月的时间，但企业已经在敦促下级法院采取措施重新启动程序，以便尽快追讨关税款。 贸易法院在监督大规模退款程序方面确实有经验，尽管从...

At least five high-yield credit analysts and traders have left Royal Bank of Canada in recent weeks, with some joining rival firms after the bank notched losses linked to the collapse of First Brands Group , according to people familiar with the matter. Desk analysts Srihari Rajagopalan , Sydney Ferrigan and Akshay Nagia left for Morgan Stanley, Banco Santander SA and Capital Group, respectively, the people said, asking not to be identified because details are private. Meanwhile, high-yield traders Christian Sady and Sameena Asija departed for UBS Group AG and Bank of America Corp., respectively. Separately, Fred Schmidt , a director for credit-derivative trading, also left the Canadian lender, the people familiar said. Representatives for RBC, Capital Group, Morgan Stanley, Santander and UBS declined to comment, while a BofA spokesperson wasn’t available to comment. RBC’s high-yield team is led by Adam Savarese , the bank’s head of global leverage finance and US structured credit trading. Canada’s largest lender is one name on a long list of creditors that were caught up in the blowup of First Brands. UBS, Santander and Jefferies Financial Group Inc. also had exposure to the Cleveland-based company. It filed for bankruptcy in September with more than $10 billion in debt after questions arose about the auto-parts maker’s borrowing and accounting practices. Federal prosecutors have accused First Brands founder Patrick James of fraud. James has denied wrongdoing and is contesting criminal charges. First Brands has already placed some of its businesses in liquidation and is in the process of selling others. RBC posted strong results across retail banking, capital markets and other business lines last quarter and beat consensus forecasts for profit. Read More: RBC, TD Beat Estimates as Canadian Banks Post Revenue Surge The bank has been adding to its equities trading division, with new senior traders and sales staff joining recently from firms including UBS, Societe Gen...

中國下月起暫停對加拿大部分產品，加徵反歧視關稅。 商務部表示，依據中國對外貿易法，前年就加拿大對華相關限制性措施，發起反歧視調查，並於去年宣布對加採取加徵關稅的反歧視措施。 發言人說，近期加政府正式宣布部分調整對華鋼鋁產品等加徵關稅措施，中方決定自下月1日起，至今年12月31日，對原產於加拿大的部分進口商品，不加徵反歧視措施相關關稅。 加拿大傳媒報道，中方將暫停對加拿大芥花籽粕及豌豆，加徵百分百關稅，並暫停對龍蝦和蟹加徵兩成半關稅，但沒有提及調整芥花籽關稅。 加拿大總理卡尼早前表示，中方將會調低對芥花籽加徵的關稅。 商務部發言人稱，中方願同加方一起，繼續以兩國領導人重要共識為引領，推動中加經貿關係健康、穩定、可持續發展。

DOE Closes Massive $26 Billion Loan For Southern Co. Here comes more of those “Hundreds of Billions” So much capital coming to this space next 3 years https://t.co/ZwTB0C2CUU — zerohedge (@zerohedge) November 18, 2025 The DOE announced Wednesday that its Office of Energy Dominance Financing (EDF) has closed a $26.54 billion loan package (the largest in the agency’s history) to two Southern Company subsidiaries. Georgia Power will receive $22.4 billion and Alabama Power $4.1 billion. The roughly 30-year loans, drawable through September 2033, will finance more than 16.7 GW of reliable generation and transmission upgrades across the Southeast. This new loan dwarfs the previous billion dollar loan recently secured by Constellation for Three Mile Island. The portfolio includes approximately 5.3 GW of new natural-gas capacity, 6.3 GW of nuclear improvements through uprates and license renewals at existing plants (including Vogtle), 1 GW of hydropower modernization, battery energy storage systems, and more than 1,300 miles of new transmission lines and grid enhancements. DOE and Southern project the financing will deliver more than $7 billion in electricity cost savings to customers in Georgia and Alabama over the life of the loans. Once fully drawn, the lower, taxpayer-backed interest rate is expected to cut Southern’s annual interest expense by more than $300 million, costs that would otherwise be recovered from ratepayers. Said another way, the burden for upgrading the grossly under-maintained grid will be passed from the local ratepayer to the federal taxpayer. Yay? *TRUMP: TELLING BIG TECH THEY NEED TO PROVIDE THEIR OWN POWER *TRUMP: NEGOTIATED NEW RATE PAYER PLEDGE ON DATA CENTER ENERGY — zerohedge (@zerohedge) February 25, 2026 “These investments will support the extraordinary and transformative projected growth we're seeing across our company” Southern Chairman and CEO Chris Womack said. “These loans will help lower the cost of investments in our grid that will en...

NVIDIA vs. Broadcom: The Smarter AI Stock to Buy for March 2026 TradingView

NVIDIA and Broadcom both posted blockbuster AI-fueled quarters, but differences in growth, debt and valuation set one apart as the smarter buy.

格隆汇2月28日｜据知情人士透露， 派拉蒙天空之舞公司已向奈飞(NFLX.O)支付了28亿美元的解约费，此前这家流媒体公司放弃了收购华纳兄弟探索公司(WBD.O)部分业务的计划。

Paramount Skydance ( PSKY ) expects to secure antitrust approvals comfortably in Europe to buy Warner Bros. Discovery ( WBD ) and would consider divestments if necessary, Reuters reported on Friday, citing two sources. Sources told the news outlet that EU concerns regarding divestments will likely be minor. Paramount's offer faces fewer regulatory hurdles because a combined Paramount and Warner Bros. has a market share of below 20% in all markets across Europe, sources told Reuters . Earlier today, Warner Bros. signed the deal with Paramount, according to an audio clip of a global town hall by the company, which was reviewed by Reuters . "Netflix ( NFLX ) had the legal right to match the PSKY offer. As you all know, they ultimately decided not to do that. That then resulted in a signed agreement with PSKY as of this morning. So that's where everything stands," Bruce Campbell, Warner Bros.' chief revenue and strategy officer, reportedly said during the town hall. However, the deal would require approval under the EU's foreign subsidies regulation because Saudi Arabia's Public Investment Fund, Abu Dhabi's L'imad Holding Company, and the Qatar Investment Authority are also bankrolling the bid, the report said. The FSR targets unfair foreign state aid. According to the report, the company may be willing to divest minor channels such as its children's brands if required. Overlapping businesses include the combination of two studios and several TV channels. Outside the U.S., David Ellison has been busy trying to convince regulators, notably in the UK, Germany, and France, while his recently appointed legal chief, Makan Delrahim, met the European Commission's top merger official, Guillaume Loriot. European Parliament lawmaker Andreas Schwab, who was against Netflix's bid and met Delrahim last month, said a Paramount bid poses fewer issues. "I think Paramount is something we could accept. It is a concentration in the production of films. There is no risk of a digital champi...

格隆汇2月28日｜消息人士：软银旗下PayPay拟在纳斯达克上市，获卡塔尔投资局、Visa和阿布扎比投资局支持。PayPay寻求最高140亿美元估值。

Earnings Call Insights: Treace Medical Concepts (TMCI) Q4 2025 Management View John Treace, Founder, Chairman & CEO, highlighted that Treace Medical has transitioned into a comprehensive bunion solutions company in 2025, now capable of addressing virtually 100% of surgeons' technique preferences with five instrumented systems for all bunion deformity categories. He stated, "With the recent commercialization of multiple new bunion procedure innovations, we are now positioned to address virtually 100% of surgeons' current technique preferences for all types of bunion correction, offering 5 best-in-class instrumented systems spanning all 4 categories of bunion deformities." CEO Treace emphasized a focus on accelerating procedure volume growth and broadening technology offerings, noting, "Our elevated case volume growth in the back half of 2025 reinforces our confidence that we have the right strategies in place to continue to expand our market penetration and restore top line revenue growth later in 2026." Treace announced a significant reduction in cash burn and improved adjusted EBITDA for 2025, commenting that actions taken to reduce operating expenses will continue to benefit profitability. Mark Hair, Chief Financial Officer, reported, "Revenue in the fourth quarter was $62.5 million, a decrease of 9% compared to the prior year period. The decline was mainly driven by the shift in revenue mix towards lower-priced products." Hair added, "Cash, cash equivalents and marketable securities totaled $48.4 million as of December 31, 2025. The company's new credit facility provides an additional $115 million of liquidity, subject to certain conditions." Outlook The company initiated 2026 full-year revenue guidance between $200 million and $212 million, representing a decline of 6% to 0% versus 2025. Management explained that revenue declines are expected until the seasonally strongest fourth quarter, with Q4 growth projected to be driven by accelerating case volumes, lappin...

格隆汇2月28日｜消息人士：PayPay美国IPO将吸引2亿美元基石投资。

Cotton futures are posting 30 to 40 point gains at Friday’s midday, with thing March down 81 points. Crude oil futures are up $1.58 per barrel on the day at $66.80. The US dollar index is down $0.135 at $97.605. Export Sales data from Thursday showed 8.75 million RB in...

Soybeans are posting 5 to 6 cent gains in the nearby contracts on Friday. There were 138 deliveries issue against March soybean futures overnight. The cmdtyView national average Cash Bean price is up 5 3/4 cents at $10.89 1/2. Soymeal futures are steady to $1.90 lower in the front months,...

Corn futures are trading with gains of 5 to 6 cents in the front months on Friday. First notice day showed just 9 deliveries overnight all issued by the Bunge house account. The CmdtyView national average Cash Corn price is up 6 1/4 cents to $4.07 3/4. The spring base...

The wheat complex is rallying across all three markets on Thursday. Chicago SRW futures are 18 to 21 cents higher on Friday. KC HRW futures are trading 18 to 19 cents higher across most contracts. MPLS spring wheat are up 13 to 16 ½ cents so far on the day....

Live cattle futures are down $2 to $4.12 at midday. Some new selling interest was noted, up 2,199 contracts. Cash trade has come in at $383 dressed in the North, with some $243-245 live across the rest of the country. Feeder cattle futures are $6.25 to $8.25 lower on Friday....

Lean hog futures are mixed at midday, with contracts within 20 cents of unchanged. USDA’s national base hog price was reported at $90.46 on Friday morning, down 51 cents from the day prior. The CME Lean Hog Index was 41 cents higher on Feb 25 at $89.12. USDA’s pork carcass...

财联社2月28日讯（编辑 赵昊） 瑞银首席股票策略师调低了对美股的展望，理由是美元走弱风险加大、股市估值过高，以及华盛顿政策动荡带来的不确定性日益上升。 瑞银全球股票策略主管Andrew Garthwaite将美国股票在全球股票投资组合中的评级下调至“基准”（benchmark）。他认为，过去多年推动美股持续跑赢全球市场的因素正在逐渐消退。 Garthwaite指出，美元风险是核心担忧。根据该行的预测，欧元兑美元将在第一季度末升至1.22，并认为美元面临“结构性的、非对称的下行风险”。 历史数据显示，当美元贸易加权指数下跌10%时，在未对冲情况下，美股平均会跑输全球股市约4%。今年，随着美元走弱、外国市场估值更便宜，资金正流出美国，非美股市表现大幅领先。 年初至今，MSCI世界（除美国）指数已累涨约8%，日经225指数累涨17%，Stoxx欧洲600指数涨7%。标普500指数几乎原地踏步，凸显资金正明显从美股轮动撤离。 与此同时，投资者担忧人工智能投资热潮的潜在风险及美国国内持续的通胀压力，令美股周五再度承压。 瑞银还表示，支撑美股的重要力量之一——企业回购——也正在失去优势。目前，美国的回购收益率仅与全球同行大致持平，削弱了其对每股收益增长和资金流入的支撑作用。 该行称，美国股息加回购构成的“股东回报收益率”如今只有欧洲的一半左右。Garthwaite写道：“回购收益率已不再突出，它曾是资金流向、EPS增长和市值提升的重要驱动力。” 估值过高加剧了这种不安情绪。瑞银测算，美股经行业调整后的市盈率比国际同业高出35%，而自2010年以来的平均溢价仅约4%。约60%的行业不仅估值高于全球对标市场，也高于自身历史溢价水平。 瑞银指出，特朗普政府下的政策波动也构成逆风。今年以来，美国在关税政策、信用卡利率上限、限制私募股权投资住房市场、重新审视药品定价，以及建议限制国防企业分红和回购等方面频繁变化。 不过，这位策略师并未完全转向看空。Garthwaite表示，在市场处于潜在泡沫的早期阶段时，美国经济和股市往往比其他市场受益更多。 此外，瑞银预计人工智能应用在美国的推进速度将超过多数主要地区，从而支撑关键行业的盈利增长。瑞银策略师Sean Simonds将标普500指数年底目标位设定为7500点。

Devrimb/iStock via Getty Images Ahead of the release of February’s job data, skepticism about the Bureau of Labor Statistics will rise. In January, the BLS posted a 130,000 increase in employment. The unemployment rate of 4.3% was little changed. In contrast, layoffs.fyi reported a 24,818 job loss that same month. How do readers reconcile the discrepancy between the high-level job gains from the BLS and the latter? Tech Layoff News Accelerated In January, the economy added 82,000 jobs in health care. Ambulatory health care services (+50,000), hospitals (+18,000), and nursing and residential care facilities (+13,000) accounted for nearly 65% of the job growth. That differs from the technology sector. Amid the epicenter of the AI boom, tech firms aggressively sought efficiency gains. They cut more staff in January at levels not seen since April 2025: layoffs.fyi After markets closed on Thursday, Block ( XYZ ) cut an astounding 40% of its staff . Chief Executive Officer Jack Dorsey claimed that "we're already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working that fundamentally changes what it means to build and run a company. And that's accelerating rapidly." The cut will cost Block 20 weeks of salary per person, plus $5,000. At 4,000 jobs, that is, fortunately, a generous payout for staff. Unfortunately for XYZ shareholders, executives did not give any details on how AI achieved the claimed efficiencies. Fintech and credit card payment stocks are in a bear market. Mastercard ( MA ) and Visa ( V ), which are both attractive investments, trade at a 52-week low. Conversely, investors do not like SoFi ( SOFI ) spending to acquire more customers. Rumors that Stripe would buy PayPal ( PYPL ) fell through. Seeking Alpha Bank stocks did not fare well in the last week. Wells Fargo ( WFC ) fell by around 9%, while Citigroup ( C ) and Bank of America ( BAC ) also traded lower. Their declines sugg...

If I can't avoid them, I might as well make the most of them.

Key PointsI don't have any Roth retirement accounts, so I expect my savings to be subject to required minimum distributions (RMDs).

Source: Bloomberg, 0:00

Sundry Photography/iStock Editorial via Getty Images The last time I wrote to you about Visa Inc. ( V ) was June 2025 , when shares appeared somewhat dear on valuation. Since then, the stock has “come in,” whereby I'm giving consideration to adding to a longstanding position. In this article, we will walk through the company's current fundamental position, explore issues apparently holding down the price, and perform a renewed valuation exercise. Visa remains a powerhouse fintech stock. Along with Mastercard Inc. ( MA ), the two service about 90%, excluding China, of the world's global credit/debit card volume. A Fundamental Overview Visa sports outstanding top and bottom line growth, free cash flow, margins, and returns. Debt is quite manageable. Operational metrics are strong. Revenue and Net Income A picture tells a thousand words. The FAST Graph below highlights 10-year revenue and GAAP net income. fastgraphs.com Results are remarkably consistent. With the exception of 2020, the pandemic year, Visa's management guided the company to increasing top and bottom lines. Through the period, sales revenue CAGR has been 11.2%, and net income has grown at a 12.1% clip. For FY2026, management guided to “low double digit” top line and bottom line growth. See slide 13 via the link above. Familiar story, right? Free Cash Flow The company's business model requires little capital. Typically, capex runs just ~3.5% of gross revenue. Therefore, most operating cash flow drops right to free cash flow. Another 10-year FAST Graph depicts Visa' cash flow trajectory. fastgraphs.com It's a star chart. Over ten years, operating cash flow and free cash flow recorded a ~13% compound annual growth rate. Few companies achieve that sort of sustained improvement. Visa is a serial cash generation machine. Indeed, I seek companies that “earn their profits in cash.” This means I advocate businesses that consistently generate cash flow comparable to profits. In the case of Visa Inc., investors enj...