Seattle-based Vercept developed complex agentic tools, including a computer-use agent that could complete tasks inside applications like a person with a laptop would.
Seattle-based Vercept developed complex agentic tools, including a computer-use agent that could complete tasks inside applications like a person with a laptop would.
Seattle-based Vercept developed complex agentic tools, including a computer-use agent that could complete tasks inside applications like a person with a laptop would.
Seattle-based Vercept developed complex agentic tools, including a computer-use agent that could complete tasks inside applications like a person with a laptop would.
Earnings Call Insights: Barrett Business Services, Inc. (BBSI) Q4 2025 Management View Gary Kramer, President and CEO, indicated that BBSI delivered strong results for 2025, with "earnings exceeded our full year guidance" despite revenue coming in slightly below forecast and a moderation in same-customer sales trends in Q4. Kramer highlighted "record growth in our worksite employee base" and noted...
Earnings Call Insights: Barrett Business Services, Inc. (BBSI) Q4 2025 Management View Gary Kramer, President and CEO, indicated that BBSI delivered strong results for 2025, with "earnings exceeded our full year guidance" despite revenue coming in slightly below forecast and a moderation in same-customer sales trends in Q4. Kramer highlighted "record growth in our worksite employee base" and noted significant wins in white collar verticals, operationalizing strategic sales initiatives, and a 26% increase in active referral partners over the prior year. The company also successfully converted two emerging markets to traditional branches and expanded its asset-light model into new geographies. Investments in technology led to multiple product releases in 2025, and the company maintained a Net Promoter Score in the high 60s for the third consecutive year. Kramer reported that "gross billings increased 6.4% year-over-year" in Q4, with controllable growth adding approximately 8,300 worksite employees year-over-year from net new clients, although client workforce reductions exceeded expectations, particularly in California and the construction industry. Staffing operations declined by 13% over the prior year quarter. Asset-light markets added 1,600 new worksite employees in 2025, and new branches were opened in Chicago, Dallas, and Nashville. BBSI Benefits grew from 16,000 to over 24,000 total participants, with 800 clients on various plans by the end of January and a 93% renewal rate despite rising health insurance rates. Kramer emphasized ongoing investment in IT, noting the launch of an employee file cabinet and the upcoming beta release of a performance management module in Q2 2026. Kramer stated, "As we look to the upcoming year, we expect our clients to continue growing at a rate below historical norms due to broad macroeconomic headwinds." Anthony Harris, Executive VP, CFO, Principal Accounting Officer & Treasurer, stated, "For the full year, gross billings increas...
Earnings Call Insights: Bloomin' Brands (BLMN) Q4 2025 Management View CEO Michael Spanos highlighted that 2025 was centered on operational alignment to support a turnaround, with a focus on "consistency of execution in food, service, experience and value to deliver a great guest experience." He noted improvements in guest metric scores and traffic, with Q4 U.S. comp sales flat and traffic up 50 b...
Earnings Call Insights: Bloomin' Brands (BLMN) Q4 2025 Management View CEO Michael Spanos highlighted that 2025 was centered on operational alignment to support a turnaround, with a focus on "consistency of execution in food, service, experience and value to deliver a great guest experience." He noted improvements in guest metric scores and traffic, with Q4 U.S. comp sales flat and traffic up 50 basis points. Outback traffic outperformed the industry by 190 basis points, marking the first quarter Outback beat the industry in 2025. Outback's comp sales were down 60 basis points, but traffic grew by 90 basis points, marking its first positive traffic growth since Q4 2021. Spanos stated, "Our beat reflected a quarter-over-quarter improvement of 400 basis points from the third quarter." The Outback Aussie 3-Course value offering continued to drive frequency, with about 60% of guests trading up to higher price tiers. Spanos also discussed a new steak lineup launched in November, citing "strong and improving guest satisfaction and reorder intent scores, driven by our standout sirloin, new bone-in ribeye and new half-pound burger." The company is rolling out a revised service model in Q2 2026 to improve guest interaction by reducing table coverage per server during peak hours. Spanos said, "We believe a reduced ratio of 4 tables per server during peak hours...will allow our Outbackers to provide a more consistent and enhanced experience for our guests." Marketing spend is shifting to a 60% digital and 40% linear TV mix in 2026, up from 33% digital in 2025, aiming for improved ROI and effectiveness. CFO Eric Christel stated, "Q4 total revenues were $975 million, compared to $972 million last year," and adjusted diluted earnings per share was $0.26, within guidance. Christel noted, "Q4 adjusted operating margins were 3.4% versus 3.5% last year," with margin pressure from commodities and labor inflation but offset by lower G&A and impairment costs. Outlook Christel guided for...
Earnings Call Insights: Cherry Hill Mortgage Investment Corporation (CHMI) Q4 2025 Management View Jeffrey Lown, President and CEO, highlighted that "themes that resonated in the third quarter continued into the fourth quarter" with lower volatility, improved equity and credit markets, and a steeper yield curve tightening throughout the quarter. He stated, "Portfolio performance was driven by tigh...
Earnings Call Insights: Cherry Hill Mortgage Investment Corporation (CHMI) Q4 2025 Management View Jeffrey Lown, President and CEO, highlighted that "themes that resonated in the third quarter continued into the fourth quarter" with lower volatility, improved equity and credit markets, and a steeper yield curve tightening throughout the quarter. He stated, "Portfolio performance was driven by tighter mortgage spreads and a steeper yield curve. All portfolio components aided in the performance. Mortgages, swaps futures and MSRs performed well with lower and middle coupon mortgages outperforming the wings of the coupon stack." Lown also introduced updates on the Real Genius partnership, noting its growth is "in line with our expectations." Lown emphasized, "For the fourth quarter, we generated GAAP net income applicable to common stockholders of $0.14 per diluted share. Book value per common share finished the quarter at $3.44 compared to $3.36 on September 30." He reported NAV was up approximately $3.1 million or 1.3% relative to September 30 and financial leverage remained at 5.4x. Liquidity was described as solid, ending with $55 million in unrestricted cash. Lown expressed optimism about Real Genius, stating, "We remain optimistic that the reduction in mortgage rates may facilitate an acceleration in Real Genius' growth as more homebuyers and homeowners look to purchase homes or refinance." Julian Evans, Chief Investment Officer, noted, "Fourth quarter's performance was driven by a more stabilized interest rate environment and a steeper yield curve, which enabled most spread and equity markets to post gains." Evans explained that the RMBS portfolio net interest spread was 2.52%, lower than the previous quarter, and expected a rebound as dollar roll income improves. Apeksha Patel, CFO, reported, "GAAP net income applicable to common stockholders for the fourth quarter was $5.3 million or $0.14 per weighted average diluted share outstanding during the quarter. While...
Agitator whose real name is Stephen Yaxley-Lennon was hosted by senior adviser at US state department The far-right activist Tommy Robinson has been hosted by the Trump administration for a meeting at the state department in Washington. Robinson, 43, whose real name is Stephen Yaxley-Lennon, was hosted by Joe Rittenhouse, a senior adviser at the state department. Rittenhouse wrote on X: “Honoured ...
Agitator whose real name is Stephen Yaxley-Lennon was hosted by senior adviser at US state department The far-right activist Tommy Robinson has been hosted by the Trump administration for a meeting at the state department in Washington. Robinson, 43, whose real name is Stephen Yaxley-Lennon, was hosted by Joe Rittenhouse, a senior adviser at the state department. Rittenhouse wrote on X: “Honoured to have free speech warrior @TRobinsonNewEra at Department of State today. “The world and the West is a better place when we fight for freedom of speech and no one has been on the front lines more than Tommy. Good to see you my friend!” Robinson, who has convictions for assault, using a fake passport, mortgage fraud and contempt of court for repeating false allegations against a Syrian refugee in breach of an injunction, wrote on X: “In America making alliances & friendships, today I had the privilege of an invite to the @StateDept.” Earlier this month, the far-right agitator said he has left the UK after he was warned by police they received intelligence that he was named in a so-called Islamic State publication which encouraged others “to commit violence” against him. He posted a clip of a phone call from police to his X account in which an officer told him he had been identified in a magazine called Yalghaar, which is reportedly published by ISKP, Islamic State Khorasan Province. Robinson wrote on X: “I have now left the country, I need time to work things out for my safety and the safety of my family. “I will probably have to relocate them.” In November, the far-right activist was cleared of a terror-related offence after being accused over a refusal to give police access to his phone during a border stop in Folkestone, Kent. After his acquittal, he thanked the US tech billionaire Elon Musk, who he said had funded his legal costs in the case. Scottish Green MSP Maggie Chapman told The National the Trump administration welcoming Robinson would be “deeply alarming”. She s...
格隆汇2月26日｜据港媒，长和系旗下三间公司宣布出售英国电网业务权益予法国公用事业企业Engie，套现逾1,100亿港元。长江基建集团(01038.HK)﹑电能实业(00006.HK)及长实集团(01113.HK)三间公司指出，出售UK Power Network股权，可以获得庞大会计收益及取得的现金款项作日后投资及收购用途。长建﹑电能及长实分别持有UK Power Networks的40%﹑40...
格隆汇2月26日｜据港媒，长和系旗下三间公司宣布出售英国电网业务权益予法国公用事业企业Engie，套现逾1,100亿港元。长江基建集团(01038.HK)﹑电能实业(00006.HK)及长实集团(01113.HK)三间公司指出，出售UK Power Network股权，可以获得庞大会计收益及取得的现金款项作日后投资及收购用途。长建﹑电能及长实分别持有UK Power Networks的40%﹑40%及20%权益，三间公司443亿港元﹑443亿港元及221.5亿港元的作价，出售手上持有的UK Power Networks权益。
An 'awful' decision, or 'always going to be a red'? Why Juventus' Lloyd Kelly's second yellow card became a straight red in his side's Champions League exit at the hands of Galatasaray.
An 'awful' decision, or 'always going to be a red'? Why Juventus' Lloyd Kelly's second yellow card became a straight red in his side's Champions League exit at the hands of Galatasaray.
iskrinka74/iStock via Getty Images Intro Since my last article about Pernod Ricard ( PDRDF ) ( PRNDY ) (RI.PA), the stock has increased around 15% in EUR and about 20% in USD, as can be seen on the Seeking Alpha chart below. Seeking Alpha What has changed since then, making me want to write this update, is that the company has reported its first-half results last week. As Pernod Ricard only report...
iskrinka74/iStock via Getty Images Intro Since my last article about Pernod Ricard ( PDRDF ) ( PRNDY ) (RI.PA), the stock has increased around 15% in EUR and about 20% in USD, as can be seen on the Seeking Alpha chart below. Seeking Alpha What has changed since then, making me want to write this update, is that the company has reported its first-half results last week. As Pernod Ricard only reports biannually on a full basis, I deem this relevant enough to reassess the case. I am keeping my sell rating in light of ongoing weak operational results and my lack of belief for a credible turnaround, while the stock remains too expensive for what it offers (when including debt). The turnaround that does not want to turn That was my thought when I went through the half-year results from last week. Pernod Ricard did not surprise negatively in that sense. Weak, even very weak results, were broadly expected. The alcohol industry continues to be challenged, suffering from the lack of growth and a rising trend of abstinent consumers. Flipping through the conference call presentation , we can see management’s pitch remains broadly the same, aiming to find back to growth over time by focusing on cost savings and higher-margin premium offerings. Overall, the current fiscal year is seen as a transitional year, with growth (hopefully) coming back thereafter. Pernod Ricard HY26 presentation What is new, at least on this precision level, is that management is targeting to lower investments more aggressively, while also mentioning balance sheet health. Especially the latter is something I am happy to hear, as I have been criticizing high leverage among alcohol companies in my previous analyses. The headline numbers for the first half were negative. I would subjectively say, weaker than expected. Reported net sales were down a painful 14.9%, which is not a small dent anymore, but something more serious. The organic figure looks comparatively more mild with —5.9% sales, but let’s not min...