dongfang zhao/iStock via Getty Images Investment Thesis I last reviewed the First Trust Water ETF ( FIW ) on October 2, 2025, when I recommended readers avoid it due to concerns about weak earnings surprises for its constituents. While FIW held a decent valuation advantage over the State Street SPDR S&P 500 ETF Trust ( SPY ), I didn't think it was enough to justify a "buy" rating, and in hindsight...
dongfang zhao/iStock via Getty Images Investment Thesis I last reviewed the First Trust Water ETF ( FIW ) on October 2, 2025, when I recommended readers avoid it due to concerns about weak earnings surprises for its constituents. While FIW held a decent valuation advantage over the State Street SPDR S&P 500 ETF Trust ( SPY ), I didn't think it was enough to justify a "buy" rating, and in hindsight, that was the correct call. Since that article was published, SPY has outperformed FIW 3.5% to 2.1%. Morningstar However, FIW has some momentum right now. The ETF is up 6.21% YTD compared to only 1.28% for SPY, and there's a decent chance we're seeing a rotation to small caps, which would disproportionately favor FIW, based on its $21.1B weighted average market cap. In my view, it's too early to make this call, especially since we're only midway through this earnings season. Still, a rotation is certainly possible, so I'll lay out the facts below to explain my "hold" rating and highlight why FIW's weak combination of growth, value, and quality suggests readers avoid this fund for now. I hope you enjoy the read, and as always, I look forward to your questions afterward. FIW Overview FIW has a 0.51% expense ratio, $2.01B in assets under management, and a May 7, 2007, inception date, making it one of the most established thematic ETFs on the market. It tracks the ISE Clean Edge Water Index , which holds 36 stocks from all size segments that derive a substantial portion of their revenues from the potable and wastewater industry. The selection process, as described in its methodology document , is summarized as follows: 1. Eligible securities that pass the industry screen must also have a market cap above $100 million, a free-float factor of at least 20%, a $500,000 three-month average daily dollar trading volume figure, and have been trading on a recognized exchange for at least three months. Remaining securities are sorted by market capitalization, with the top 36 comprising ...
Vulcan Value Partners, LLC, the Birmingham, Alabama-based investment firm led by founder, CEO, and Chief Investment Officer C.T. Fitzpatrick, CFA, has reportedly reduced its position in Microsoft Corporation (NASDAQ: MSFT) by 43,824 shares, according to the latest regulatory disclosures. The move comes during a period of heightened volatility in large-cap technology stocks, particularly within the...
Vulcan Value Partners, LLC, the Birmingham, Alabama-based investment firm led by founder, CEO, and Chief Investment Officer C.T. Fitzpatrick, CFA, has reportedly reduced its position in Microsoft Corporation (NASDAQ: MSFT) by 43,824 shares, according to the latest regulatory disclosures. The move comes during a period of heightened volatility in large-cap technology stocks, particularly within the Software and AI Infrastructure sector. Meanwhile, Microsoft Corporation (MSFT) closed at $413.27, down $0.45 (-0.11%) at 4:00:02 PM EST, and later rose $1.67 (+0.40%) to $414.94 in overnight trading as of 12:37:32 AM EST. Following the transaction, Vulcan Value Partners’ estimated remaining stake in Microsoft stands at approximately 1,141,578 shares, maintaining MSFT as the firm’s largest portfolio holding at roughly 10.14% of total assets. Despite the trim, the software giant continues to represent a cornerstone investment for the value-oriented fund. Balancing AI Capex and Growth Expectations Microsoft, with a market capitalization of approximately $2.98 trillion as of early February 2026, remains one of the most influential companies in global equity markets. However, investor sentiment has recently been shaped by concerns surrounding heavy AI capital expenditures and Azure capacity constraints, even as long-term growth prospects remain intact. Shares of Microsoft have fluctuated in the low-$400 range in recent weeks, reflecting broader market debate over the sustainability of AI-driven earnings expansion. Wall Street analysts continue to maintain bullish long-term outlooks, with some price targets reaching as high as $600. Still, near-term questions about infrastructure spending and returns on AI investments have introduced uncertainty into valuation models. A key variable in Microsoft’s AI narrative is its strategic relationship with OpenAI, which serves as both a competitive differentiator and a dependency risk. While Microsoft’s integration of OpenAI technology acro...
Shares of Hong Kong-listed Shanghai XNG Holdings opened 12 per cent lower on Wednesday, extending Tuesday’s plunge of more than 28 per cent, after the company confirmed it had suspended operations at 10 Shanghai Min restaurants in mainland China. Its shares opened at HK$0.02 on Wednesday. The restaurants serve formal Shanghai cuisine. In a statement filed with the Hong Kong stock exchange on Tuesd...
Shares of Hong Kong-listed Shanghai XNG Holdings opened 12 per cent lower on Wednesday, extending Tuesday’s plunge of more than 28 per cent, after the company confirmed it had suspended operations at 10 Shanghai Min restaurants in mainland China. Its shares opened at HK$0.02 on Wednesday. The restaurants serve formal Shanghai cuisine. In a statement filed with the Hong Kong stock exchange on Tuesday night, the group said the closures were part of a strategic realignment. Advertisement In 2025, China’s total catering revenue reached 5.80 trillion yuan (US$839 billion), rising 3.2 per cent year on year, a slowdown from the 5.3 per cent growth recorded in 2024, according to the National Bureau of Statistics. Advertisement As of the first half of 2025, XNG operated 15 Shanghai Min outlets and one Nan Xiao Guan restaurant, a casual-dining brand featuring Shanghai and Jiangnan flavours, according to its earnings report.
Sanoma Corporation, Stock Exchange Release, 11 February 2026 at 8:30 a.m. EET Sanoma Corporation, Full-Year 2025 Result: Improved adjusted operating profit and free cash flow driven by Learning This release is a summary of Sanoma’s Full-Year 2025 Result. The complete report is attached to this release and is also available at sanoma.com/en/investors. Q4 2025 Net sales amounted to EUR 225.8 million...
Sanoma Corporation, Stock Exchange Release, 11 February 2026 at 8:30 a.m. EET Sanoma Corporation, Full-Year 2025 Result: Improved adjusted operating profit and free cash flow driven by Learning This release is a summary of Sanoma’s Full-Year 2025 Result. The complete report is attached to this release and is also available at sanoma.com/en/investors. Q4 2025 Net sales amounted to EUR 225.8 million (2024: 241.5) with lower net sales in both businesses. In Learning, net sales were lower in Spain ahead of the curriculum renewal upcoming in 2026 and due to phasing between quarters. In Media Finland, the decline in advertising sales was partially offset by continued growth in digital subscription sales. The Group’s comparable net sales development was -7% (2024: -2%). Adjusted operating profit amounted to EUR -27.4 million (2024: -27.3). Earnings were relatively stable in both Learning and Media Finland. Operating profit amounted to EUR -50.9 million (2024: -46.9). Items affecting comparability (IACs) increased to EUR -15.7 million (2024: -10.6) and mainly consisted of restructuring expenses related to a number of strategic development projects across the Group. Purchase price allocation adjustments and amortisations (PPAs) amounted to EUR 7.8 million (2024: 9.0). Adjusted EPS was stable at EUR -0.20 (2024: -0.21). EPS was EUR -0.27 (2024: -0.26). On 25 November 2025, Sanoma updated its financial targets and aims to deliver high single-digit growth in the Group’s adjusted operating profit in 2026–2030. The Group’s leverage target was adjusted to below 2.5 from the earlier below 3.0. Sanoma also adjusted the wording of selected Alternative Performance Measures. The updated terminology is used in this report. On 5 December 2025, Sanoma signed a EUR 220 million syndicated term loan facility. FY 2025 Net sales amounted to EUR 1,302.5 million (2024: 1,344.8). In Learning, growth in learning content sales partially mitigated the impact of planned discontinuation of low value d...
Sanoma Oyj, pörssitiedote, 11.2.2026 klo 8.30 Sanoma Oyj, Tilinpäätöstiedote 2025: Oikaistu liikevoitto ja vapaa rahavirta paranivat Learningin vetäminä Tämä tiedote on tiivistelmä Sanoman tilinpäätöstiedotteesta vuodelta 2025. Tilinpäätöstiedote kokonaisuudessaan on tämän pörssitiedotteen liitteenä ja saatavilla myös osoitteessa sanoma.com/fi/sijoittajat. Q4 2025 Molempien liiketoimintojen liikev...
Sanoma Oyj, pörssitiedote, 11.2.2026 klo 8.30 Sanoma Oyj, Tilinpäätöstiedote 2025: Oikaistu liikevoitto ja vapaa rahavirta paranivat Learningin vetäminä Tämä tiedote on tiivistelmä Sanoman tilinpäätöstiedotteesta vuodelta 2025. Tilinpäätöstiedote kokonaisuudessaan on tämän pörssitiedotteen liitteenä ja saatavilla myös osoitteessa sanoma.com/fi/sijoittajat. Q4 2025 Molempien liiketoimintojen liikevaihto laski ja konsernin liikevaihto oli 225,8 milj. euroa (2024: 241,5). Learningissä Espanjan liikevaihto laski ennen vuoden 2026 opetussuunnitelmauudistusta sekä vuosineljännesten välisen ajoittumisen vuoksi. Media Finlandissa digitaalisen tilausmyynnin kasvu tasoitti osittain mainosmyynnin laskua. Konsernin vertailukelpoinen liikevaihdon kehitys oli -7 % (2024: -2 %). Oikaistu liikevoitto oli -27,4 milj. euroa (2024: -27,3). Tulos oli suhteellisen vakaa sekä Learningissä että Media Finlandissa. Liikevoitto oli -50,9 milj. euroa (2024: -46,9). Vertailukelpoisuuteen vaikuttavat erät kasvoivat -15,7 milj. euroon (2024: -10,6) ja liittyivät konsernin laajuisiin strategisiin kehityshankkeisiin. Hankintamenojen poistot ja oikaisut olivat 7,8 milj. euroa (2024: 9,0). Oikaistu osakekohtainen tulos pysyi vakaana ja oli -0,20 euroa (2024: -0,21). Osakekohtainen tulos oli -0,27 euroa (2024: -0,26). Sanoma päivitti taloudelliset tavoitteensa 25.11.2025 ja tavoittelee konsernin oikaistun liikevoiton korkeaa yksinumeroista kasvua vuosina 2026–2030. Konsernin velkaantuneisuustavoite tarkistettiin alle 2,5:een aiemmasta alle 3,0:sta. Sanoma muutti myös tiettyjen kannattavuutta kuvaavien vaihtoehtoisten tunnuslukujen sanamuotoa. Päivitetyt sanamuodot ovat käytössä tässä raportissa. Sanoma allekirjoitti 5.12.2025 220 milj. euron syndikoidun lainasopimuksen. 2025 Konsernin liikevaihto oli 1 302,5 milj. euroa (2024: 1 344,8). Learningissä oppimateriaalimyynnin kasvu lievensi osittain Hollannin heikosti kannattavien jakelusopimusten suunnitellun lopettamisen vaikutusta. Media Finlandissa di...
(RTTNews) - SGS Group (SGSOY.PK), a Swiss inspection, verification, testing, and certification company, reported Wednesday higher profit and sales in fiscal 2025. Further, the firm maintained dividend, issued outlook for fiscal 2026 expecting organic sales growth, and confirmed fiscal 2027 view. In the year 2025, profit attributable to equity holders grew 15 percent to 668 million Swiss Francs fro...
(RTTNews) - SGS Group (SGSOY.PK), a Swiss inspection, verification, testing, and certification company, reported Wednesday higher profit and sales in fiscal 2025. Further, the firm maintained dividend, issued outlook for fiscal 2026 expecting organic sales growth, and confirmed fiscal 2027 view. In the year 2025, profit attributable to equity holders grew 15 percent to 668 million Swiss Francs from last year's 581 million francs. Basic earnings per share were 3.48 francs, up 12.3 percent from 3.10 francs last year. Basic earnings per share before HQ disposal was 3.21 francs, compared to 3.10 francs a year ago. Operating income increased 12.2 percent year-over-year to 1.01 billion francs, and adjusted operating income or AOI grew 6.5 percent to 1.11 billion francs. AOI margin improved to 16 percent from 15.3 percent last year. Sales for the year were 6.95 billion francs, up 2.2 percent from 6.79 billion francs in the prior year. Organic sales growth was 5.6 percent. Further, the Board of Directors will recommend at the Annual General Meeting of March 26 to maintain the dividend at the CHF 3.20 per share level. Looking ahead for fiscal 2026, the company projects 5 percent to 7 percent organic sales growth, and 5 percent to 7 percent additional sales from acquisitions, including ATS. The company projects adjusted operating income margin in line or above 16 percent. The company plans Capital Markets Event before the end of 2026. In addition, SGS reconfirmed fiscal 2027 outlook, still expecting organic sales growth of 5 percent to 7 percent annually, and significant improvement of at least 1.5 percentage points in Adjusted Operating Income margin on sales by 2027, versus 2023. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The move allows traders to own a stake in mega-cap firms like Nvidia, Tesla, Meta and Alphabet, without owning the underlying shares. In this photo illustration, the Google, Apple, Meta, Amazon and Microsoft (Big Tech) logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images) CME Group plans to launch financially settled single-st...
The move allows traders to own a stake in mega-cap firms like Nvidia, Tesla, Meta and Alphabet, without owning the underlying shares. In this photo illustration, the Google, Apple, Meta, Amazon and Microsoft (Big Tech) logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images) CME Group plans to launch financially settled single-stock futures this summer, pending regulatory approval. The move allows traders to take positions in more than 50 major U.S. stocks, including Nvidia, Tesla, Meta Platforms and Alphabet. CME reported 2025 futures and options average daily volume of 7.4 million contracts and open interest of 9.8 million. CME Group, Inc. (CME) plans to let traders take futures positions in Nvidia, Tesla, Meta Platforms and Alphabet, expanding its equity derivatives lineup beyond index-linked products and into individual megacap stocks. CME Plans Single-Stock Futures The exchange said it expects to launch financially settled single-stock futures beginning this summer, subject to regulatory approval. The contracts will cover more than 50 leading U.S. stocks from the S&P 500, Nasdaq-100 and Russell 1000. Tim McCourt, CME’s Global Head of Equities, FX and Alternative Products, said the contracts would offer investors “an alternative way to gain exposure to individual leading U.S. stocks,” while also allowing them to hedge potential price movements without owning the underlying shares. Equity Derivatives Demand Remains Strong CME pointed to growth in equity derivatives trading as a key driver for the launch. In 2025, futures and options average daily volume reached 7.4 million contracts, while open interest climbed to 9.8 million contracts. Futures-only average daily volume rose 15% year over year to 6 million contracts, and average open interest increased 19% to a record 5.6 million contracts. The exchange said demand has been growing across both institutional and retail participants. Megacap Tech ...
Mowi ASA press release ( MHGVY ): Q4 GAAP EPS of €1.02. Revenue of €1.59B (+6.0% Y/Y). Operational EBIT of €213 million. Financial EBIT of €665 million. Best ever Q4 volumes of 152k GWT and full-year volumes of 559k GWT (up 11% y/y). All-time high full year harvest volumes in 2025 of 558 870 GWT (501 530 GWT), up 11.4% y/y. 2026 harvest volume guidance maintained at 605k GWT, up 8.3% y/y. Biomass ...
Mowi ASA press release ( MHGVY ): Q4 GAAP EPS of €1.02. Revenue of €1.59B (+6.0% Y/Y). Operational EBIT of €213 million. Financial EBIT of €665 million. Best ever Q4 volumes of 152k GWT and full-year volumes of 559k GWT (up 11% y/y). All-time high full year harvest volumes in 2025 of 558 870 GWT (501 530 GWT), up 11.4% y/y. 2026 harvest volume guidance maintained at 605k GWT, up 8.3% y/y. Biomass in sea seasonally record-high at 372k LWT, up by 8.7% y/y. Realised cost down 6% y/y and 1% q/q. Biomass cost in sea down 7% y/y and 2% q/q. Quarterly dividend of NOK 1.50 per share. More on Mowi ASA Seeking Alpha’s Quant Rating on Mowi ASA Historical earnings data for Mowi ASA Dividend scorecard for Mowi ASA Financial information for Mowi ASA
American International Group ( AIG ) declares $0.45/share quarterly dividend , in line with previous. Forward yield 2.4% Payable March 30; for shareholders of record March 16; ex-div March 16. See AIG Dividend Scorecard, Yield Chart, & Dividend Growth. More on American International Group Thoughts On A Potential Chubb-AIG Merger American International Group: Fairly Valued Even If Chubb M&A Rumors ...
American International Group ( AIG ) declares $0.45/share quarterly dividend , in line with previous. Forward yield 2.4% Payable March 30; for shareholders of record March 16; ex-div March 16. See AIG Dividend Scorecard, Yield Chart, & Dividend Growth. More on American International Group Thoughts On A Potential Chubb-AIG Merger American International Group: Fairly Valued Even If Chubb M&A Rumors Don't Materialize AIG Q4 earnings beat, but general insurance net premiums written disappoint American International Group Q4 2025 Earnings Preview Seeking Alpha’s Quant Rating on American International Group
FactoryTh/iStock via Getty Images By Yaroslav Dmytrenko On Tuesday, February 10, copper ( HG1:COM ) prices fell by less than 1% to $13,125 per ton, reacting to weaker short-term demand and production shutdowns in China ahead of the Lunar New Year. Although Goldman Sachs estimates that the copper market faced a surplus of 600,000 tons in 2025, prices still reached record highs earlier this year. St...
FactoryTh/iStock via Getty Images By Yaroslav Dmytrenko On Tuesday, February 10, copper ( HG1:COM ) prices fell by less than 1% to $13,125 per ton, reacting to weaker short-term demand and production shutdowns in China ahead of the Lunar New Year. Although Goldman Sachs estimates that the copper market faced a surplus of 600,000 tons in 2025, prices still reached record highs earlier this year. Strong demand, combined with potential supply disruptions, has kept prices above $13,000 per ton, but Goldman Sachs forecasts a decline toward $11,200 by year-end. In February, copper prices are largely influenced by the Lunar New Year and the associated slowdown in demand in China. Additional pressure comes from a stronger U.S. dollar, which makes purchases more expensive for importing countries, as well as ongoing profit-taking by traders following recent highs. “The recent decline in copper prices reflects short-term market dynamics - profit-driven selling and a stronger dollar are outweighing demand data. If industrial activity in China stabilizes and inventories decline, we may see support return at current levels,” said analyst Viktoras Karapetjants. The current technical setup represents a reaction to the previous strong move, with the market digesting recent highs and forming a base ahead of the next impulse. Copper daily price chart (Source: TradingView) Copper is currently trading in a narrow range between the 20-day and 200-day moving averages. The RSI remains neutral in the 45-55 range across different time frames, while the MACD is hovering near zero, indicating weak momentum. As a result, the most likely outcome is a neutral scenario, with prices oscillating between $13,050 and $13,200 until a stronger catalyst emerges. In a bullish scenario, copper would break above the 20-day moving average, consolidate in the $13,150-13,200 range, and target $13,500-13,550, eventually moving toward the record base near $14,000. In a bearish scenario, a break below the $13,050...
Key Points Big tech firms are investing hundreds of billions to build out their AI capabilities. One big tech firm may have already taken on too much debt. Most big tech firms are prudently investing in AI. 10 stocks we like better than Apple › Last week, there was a flurry of earnings releases from "Big Tech" companies. Artificial intelligence is big business, and competition for many of them is ...
Key Points Big tech firms are investing hundreds of billions to build out their AI capabilities. One big tech firm may have already taken on too much debt. Most big tech firms are prudently investing in AI. 10 stocks we like better than Apple › Last week, there was a flurry of earnings releases from "Big Tech" companies. Artificial intelligence is big business, and competition for many of them is stiff these days. The resulting spending spree, which has been coined "hyperscaling," is resulting in billions of dollars to buy semiconductor chips, build data centers, and develop the software to run AI. In a recent edition of the investment newspaper, the Financial Times, an article questioned whether the "Big Tech borrowing spree raises fears over AI risks in US corporate bonds." It cited estimates of the scale of borrowing – Morgan Stanley estimates hyperscalers will raise around $400 billion in corporate bonds in 2026 to scale AI. And JPMorgan recently estimated that AI and data center firms account for 14.5% of its $10 trillion investment-grade bond index. That's nearly $1.5 trillion in existing debt. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » This is a lot of spending, and if the returns on these massive investments don't turn out as planned, it could spell disaster for both these firms and the investors who bought their stocks. Below is an overview of the debt levels of the key hyperscalers. This list of leading Big Tech firms includes Nvidia (NVDA), whose GPU and chips are seen at the forefront of providing the computing power to run AI. Oracle (ORCL) is also a primary supplier and one of the largest to lead the charge in building data centers and cloud computing capabilities. Alphabet (GOOG) (GOOGL), Apple (AAPL), Microsoft (MSFT), Meta (META), and Amazon (AMZN) offer a mix of cloud computing, as well as the ability to bring AI directly t...