格隆汇2月13日｜由于电动汽车制造商Rivian正致力于在下一代SUV发布前的关键时期控制成本，该公司警告称，今年的亏损可能高于预期。在发布第四季度财报时，Rivian预计2026年调整后息税折旧及摊销前利润亏损为18亿至21亿美元。该区间的终值虽然较去年的亏损有所改善，但超过了分析师此前预期的约18亿美元亏损。这一预测表明，面对电动汽车需求疲软、原材料成本高昂，以及在共和党领导的取消电动汽车友好政策后失去监管信用额度收入，Rivian追求盈利的道路依然坎坷。Rivian同时表示，备受期待的R2中型电动SUV将按计划于第二季度上市销售。这款车型对于Rivian实现更高产量和改善盈利至关重要，它将以更低的价格投放市场。

OKYO Pharma Limited ( OKYO ) announced plans to sell ordinary shares in an underwritten public offering. All shares in the offering will be issued and sold by the company. The company expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares sold. Proceeds are expected to be used primarily for clinical development, working capital, and general corporate purposes. More on OKYO Pharma Seeking Alpha’s Quant Rating on OKYO Pharma Historical earnings data for OKYO Pharma Financial information for OKYO Pharma

Ingersoll-Rand press release ( IR ): Q4 Non-GAAP EPS of $0.96 beats by $0.06 . Revenue of $2.09B (+10.6% Y/Y) beats by $50M . Adjusted EBITDA 1 of $580 million, up 9%, with a margin of 27.7% Operating cash flow of $499 million and free cash flow 1 of $462 million Liquidity of $3.8 billion as of December 31, 2025, including $1.2 billion of cash on hand and undrawn capacity of $2.6 billion under available credit facilities Full-Year 2025 Highlights (All comparisons against 2024 and results are as reported unless otherwise noted) Orders of $7,716 million, up 9% Revenues of $7,651 million, up 6% Net income attributable to Ingersoll Rand Inc. of $581 million, $1.45 per share Adjusted net income attributable to Ingersoll Rand Inc. 1 of $1,341 million, $3.34 per share, up 2% Adjusted EBITDA 1 of $2,094 million, up 4%, with a margin of 27.4% Operating cash flow of $1,356 million and free cash flow 1 of $1,220 million Returned $1,050 million of value to shareholders through share repurchases and dividends 2026 Guidance Expect full-year 2026 revenue growth of 2.5% to 4.5% and Adjusted EBITDA 1 of $2,130 to $2,190 million, up 2% to 5% over prior year 2026 Adjusted EPS 1 expected to be in a range of $3.45 to $3.57, up 3% to 7% over prior year More on Ingersoll-Rand Ingersoll Rand Inc. (IR) Presents at 44th Annual J.P. Morgan Healthcare Conference - Slideshow Ingersoll Rand Inc. (IR) Presents at 44th Annual J.P. Morgan Healthcare Conference Transcript Ingersoll Rand: Upping Bolt-On M&A Amidst Softer Organic Growth Ingersoll-Rand Q4 2025 Earnings Preview Ingersoll Rand acquires Scinomix to expand life sciences portfolio

Source: Bloomberg, 5:53

Sundry Photography Applied Materials ( AMAT ) shares soared more than 8% in extended trading on Thursday after the semiconductor equipment maker reported fiscal first-quarter results and guidance that topped Wall Street's forecast. For the period ending Jan. 25, Applied Materials said it earned an adjusted $2.38 per share as revenue came in at $7.01B, down 2.1% year-over-year. Semiconductor systems revenue was $5.14B, while applied global services revenue was $1.56B and other revenue was $312M. Analysts had expected the company to earn an adjusted $2.21 per share on $6.87B in revenue. “Applied Materials delivered strong results in our fiscal first quarter, fueled by the acceleration of industry investments in AI computing,” said Gary Dickerson, President and CEO. “The need for higher performance and more energy-efficient chips is driving high growth rates for leading-edge logic, high-bandwidth memory and advanced packaging. These are areas where Applied is the process equipment leader, and we expect to grow our semiconductor equipment business over 20 percent this calendar year.” Looking ahead to the fiscal second-quarter, Applied Materials expects revenue to be between $7.15B and $8.15B, well above the $7.01B analysts expected. Adjusted earnings per share are forecast to be between $2.44 and $2.84 per share, also well above the $2.28 analysts anticipated. The company will host a conference call at 4:30 p.m. EST to discuss the results. More on Applied Materials Applied Materials: Attractive Buy Ahead Of The Q1 2026 Report Applied Materials: When Chip Complexity Becomes The Real Alpha Applied Materials: Memory Market Boom, China Fears, And Awaiting FY26 Outlook Applied Materials to pay $252.5M to settle U.S. export violations probe Applied Materials says Samsung Electronics will join new EPIC center in Silicon Valley

In this article RIVN Follow your favorite stocks CREATE FREE ACCOUNT The Rivian R2 is on display during the 2025 Los Angeles Auto Show at the Los Angeles Convention Center on Nov. 23, 2025 in Los Angeles, California. Josh Lefkowitz | Getty Images Rivian Automotive on Thursday beat Wall Street's fourth-quarter expectations and said it's targeting a significant increase in vehicle deliveries this year, but the automaker also cautioned that it will continue losing money as it launches its crucial R2 next-generation vehicle. Rivian's 2026 guidance includes increasing vehicle deliveries to between 62,000 and 67,000 units, which would be up by 47% to 59% compared to 2025. The electric vehicle maker also said it expects adjusted losses for 2026 of between $1.8 billion and $2.1 billion and capital expenditures between $1.95 billion and $2.05 billion. That compares with nearly $2.1 billion in losses and $1.7 billion in capital expenditures last year. Here's how the company performed in the fourth quarter compared with average estimates compiled by LSEG: Loss per share: 54 cents adjusted vs. a loss of 68 cents expected Revenue: $1.29 billion vs. $1.26 billion expected Rivian's full-year 2025 revenue, including $1.7 billion during the fourth quarter, was up 8% compared with $4.97 billion in 2024. The company was able to achieve a gross profit, which is closely watched by investors, of $144 million in 2025, including $120 million during the fourth quarter. That was driven by its software and services joint venture with Volkswagen offsetting $432 million in losses for its automotive business. Investors view gross profit as a key indicator of a business's profitability before operating expenses, interest and taxes. watch now VIDEO 15:37 15:37 Why the R2 could be Rivian's key to profitability Autos Rivian's net loss last year was $3.6 billion, an improvement from a loss of $4.75 billion in 2024. That includes an $804 million loss during the fourth quarter, accelerated by a decreas...

Toast press release ( TOST ): Q4 GAAP EPS of $0.16 beats by $0.04 . Revenue of $1.63B (+21.6% Y/Y) beats by $10M . For the first quarter ending March 31, 2026, Toast expects to report: Non-GAAP subscription services and financial technology solutions gross profit in the range of $505 million to $515 million (22-24% growth compared to Q1 2025) Adjusted EBITDA in the range of $160 million to $170 million For the full year ending December 31, 2026, Toast expects to report: Non-GAAP subscription services and financial technology solutions gross profit in the range of $2,270 million to $2,300 million (20-22% growth compared to 2025) Adjusted EBITDA in the range of $775 million to $795 million Shares -8.19% AH

Oracle secured an $88 million U.S. Department of the Air Force contract to provide cloud infrastructure and AI database solutions as part of a military cloud modernization effort. Oracle Health launched its Clinical AI Agent, Clinical Note, in the UK, giving more than 300 healthcare organizations access to AI supported clinical documentation. The developments expand Oracle's role in public sector cloud and healthcare AI, with NYSE:ORCL most recently closing at $157.16. For investors...

Didero, a New York–based software company using AI agents to automate enterprise procurement, today announced a $30 million Series A financing round co-led by Chemistry and Headline, with participation from M12, Microsoft's Venture Fund. The new funding will support product development and go-to-market expansion as manufacturers and distributors deploy Didero to reduce manual work, improve visibility, and operate more resilient global supply chains.

Roku press release ( ROKU ): Q4 GAAP EPS of $0.53 beats by $0.25 . Revenue of $1.39B (+15.8% Y/Y) beats by $40M . For Q1, we anticipate Platform revenue growing more than 21% YoY and Devices revenue down mid-single digitsYoY. We expect this to result in Total net revenue of $1.200 billion, up roughly 18% YoY, with Total gross profitof $530 million and Adjusted EBITDA of $130 million. For full year 2026, we anticipate Platform revenue to grow 18% YoY to $4.890 billion, with gross margin between51% to 52%. We expect Devices revenue to grow low-single digits YoY to $610 million, with gross margin in thenegative mid-teens, roughly in line with 2025. We expect Total net revenue of $5.500 billion, Total gross profitof $2.435 billion, and Adjusted EBITDA of $635 million – resulting in an Adjusted EBITDA margin improvementof 267 basis points. Shares +10% . More on Roku Roku Should Surprise Markets This Week (Q4 Preview) Roku, Inc. (ROKU) Presents at 53rd Annual Nasdaq Investor Conference Transcript Roku: Intensified Ad Monetization And Robust Engagement Trigger Compelling Valuations - Reiterate Buy Roku Q4 preview: Ad monetization and subscription growth in focus Earnings week ahead: F, KO, CSCO, SHOP, MCD, BP, AMAT, COIN, MRNA, ROKU, and more

Sabra Health Care press release ( SBRA ): Q4 FFO of $0.36 misses by $0.01 . Revenue of $211.9M (+16.2% Y/Y) beats by $9.93M . Shares -3.26% . 2026 GUIDANCE Sabra is initiating 2026 earnings guidance ranges as follows (attributable to Sabra Health Care REIT, Inc., per diluted common share): Net Income: $0.60 - $0.64 FFO: $1.49 - $1.53 Normalized FFO: $1.49 - $1.53 AFFO: $1.55 - $1.59 Normalized AFFO: $1.55 - $1.59 FY FFO consensus is $1.55 FY Revenue consensus is $839.67M More on Sabra Health Care Sabra Health Care: A Compelling REIT Opportunity As SHOP Unlocks Hidden Value Sabra Health Care REIT Remains A Bullish Case, As Senior Care Demand Grows Sabra Health Care: Buy This High Yield For Potentially Solid Total Returns Top performing healthcare REITs year to date Seeking Alpha’s Quant Rating on Sabra Health Care

JFrog press release ( FROG ): Q4 Non-GAAP EPS of $0.22 beats by $0.03 . Revenue of $145.3M (+25.2% Y/Y) beats by $7.21M . Operating Cash Flow was $50.7 million; Free Cash Flow of $49.9 million. Cash, Cash Equivalents and Investments were $704.4 million as of December 31, 2025. Remaining performance obligations were $565.7 million as of December 31, 2025. Fiscal 2025 Financial Highlights Revenue for fiscal 2025 was $531.8 million, up 24% year-over-year. GAAP Gross Profit was $408.4 million; GAAP Gross Margin was 76.8%. Non-GAAP Gross Profit was $443.3 million; Non-GAAP Gross Margin was 83.3%. GAAP Operating Loss was ($91.9) million; GAAP Operating Margin was (17.3%). Non-GAAP Operating Income was $92.1 million; Non-GAAP Operating Margin was 17.3%. GAAP Net Loss Per Share was ($0.62); Non-GAAP Diluted Earnings Per Share was $0.82. Operating Cash Flow was $145.7 million; Free Cash Flow of $142.3 million. More on JFrog JFrog: Re-Accelerating Growth Supports Further Upside JFrog Ltd. (FROG) Presents at Barclays 23rd Annual Global Technology Conference Transcript JFrog Ltd. (FROG) Presents at UBS Global Technology and AI Conference 2025 Transcript JFrog Q4 2025 Earnings Preview Snowflake, MongoDB, Datadog, JFrog likely to rise after 'SaaSpocalypse' ends: BofA

Despite a decline in total revenue, CSP Inc (CSPI) sees significant growth in service revenue and gross margins, driven by technology solutions and managed services.

北京时间2月13日凌晨，美股周四收跌，科技股领跌，纳指下跌超过2%。投资者开始担忧人工智能建设的负面影响，这有可能颠覆多个行业的商业模式并推高失业率。 道指跌669.42点，跌幅为1.34%，报49451.98点；纳指跌469.32点，跌幅为2.03%，报22597.15点；标普500指数跌108.71点，跌幅为1.57%，报6832.76点。 思科 系统领跌科技板块，该股大跌12.3%。此前这家交换机和路由器等网络硬件制造商发布了令人失望的本季度业绩指引。 今年，随着人工智能工具的发布，股票市场的特定板块受到冲击。投资者担心这些工具可能颠覆某些行业业务、推高失业率，或至少侵蚀其利润空间。 此番显著的市场轮动之际，投资者正日益审视那些可能无法跟上人工智能快速发展的传统企业。 摩根士丹利 等金融股因担忧人工智能将扰乱财富管理业务而承压。 C.H．罗宾逊等卡车运输和物流公司股价则因担心人工智能会优化货运运营从而拖累特定收入线而暴跌。投资者担忧新的人工智能工具可能大幅消除货运领域的主要低效环节，导致行业服务需求减少。 人工智能公司Algorhythm Holdings推出的名为SemiCab的新工具，使卡车运输公司成为市场最新的人工智能焦虑受害者，加剧了软件股和房地产公司已处于历史高位的抛售潮。 人工智能颠覆性影响的担忧甚至蔓延至房地产行业，损及 世邦魏理仕 和SL格林房地产等股票，理由是失业率上升将打击写字楼空间需求。 软件股——近几周来一直受到颠覆性担忧困扰的板块——在当日交易中扩大了年初至今的跌幅。 欧特克 股价下跌3.9%，其年初至今跌幅已达26%。 iShares Expanded Tech-Software Sector ETF （IGV）下跌2.7%——该基金目前较近期高点下跌约32%。 贝尔德投资策略师罗斯·梅菲尔德在谈及近期抛售时表示：“依我看，这纯粹是群体心理。先卖出，之后再去做分析，但别让自己成为接盘侠。从软件板块流出的资金有地方可去。” 白银——今年在散户投资者中一直是热门交易品种——的抛售加剧了周四的避险情绪。白银期货暴跌9%。 投资者在市场中更具防御性的板块寻求安全。 沃尔玛 和 可口可乐 股价分别上涨3%和2%，必需消费品和公用事业板块领涨标普500各板块，涨幅均超过1%。 此前一个交易日，股市在早盘因强劲就业报告上涨后收跌。对该数据的热情消...

Pinterest forecast first-quarter revenue below estimates on Thursday, underscoring the image-sharing platform's ongoing struggle to compete ‌for advertising dollars against deep-pocketed platforms, sending its shares ‌down 12% in extended trading. Social media giants like TikTok and Meta's Instagram and ​Facebook continue to take a larger chunk of the market as their massive user bases and advanced artificial intelligence tools for ad creation keep luring advertisers. But Pinterest aims to attract more marketers via ⁠its AI-powered Performance+ ad suite — having hired former advertising head of Spotify, Lee Brown — and longtime Amazon marketing executive Claudine Cheever, to stand ​out ​in a crowded ad market.

Applied Materials Inc. , the largest US supplier of chipmaking equipment, gave an upbeat sales forecast for the current quarter, signaling that demand for artificial intelligence and memory semiconductors are fueling purchases. Sales will be approximately $7.65 billion in the fiscal second quarter, which runs through April, Applied Materials said in a statement Thursday. Analysts had estimated $7.03 billion on average. Earnings will be about $2.64 a share, excluding some items, compared with a projection of $2.29. The shares rose about 10% in late trading after the results were released. They had been up 28% this year through the close. Applied Materials is bouncing back from a slowdown spurred by export restrictions on China, the biggest market for chips. Demand for memory-chip machinery should be a particular bright spot: Customers like Samsung Electronics Co. and Micron Technology Inc. are scaling up manufacturing to cope with shortages in that market. The etching and deposition tools used to make dynamic random access memory, or DRAM, “are set to expand due to strong demand from AI-chip customers,” according to Bloomberg Intelligence. The company also just resolved a high-profile regulatory issue. Earlier this week, Applied Materials announced plans to pay $252.5 million to settle a US Commerce Department investigation into improper exports to China, ending a yearslong saga. Read More: Applied Materials to Pay $252.5 Million to Settle US Probe

Airbnb Inc. posted strong fourth-quarter bookings and issued an upbeat revenue outlook, citing strong travel demand and growing adoption of its new flexible payment and booking options. Revenue for the quarter ending on March 31 will be $2.59 billion to $2.63 billion, the home-rental giant said in a shareholder letter on Thursday. Wall Street was expecting $2.54 billion. For the full year, the company expects revenue growth to accelerate to “at least low double digits” from the 10% it saw in 2025, in line with analysts’ estimates. Shares of Airbnb rose 4.8% in extended trading after closing at $115.96 in New York. The stock has been down about 15% so far this year through Thursday’s close. The guidance follows upbeat reports from US airlines last month, a sign that travel demand is holding steady despite heightened geopolitical tensions and severe winter weather across the US. That would bode well for Airbnb, which is attracting guests and new hosts to its platform ahead of major sporting events this year, including the Winter Olympic Games, which are currently underway, and the upcoming World Cup. Airbnb last year introduced a Reserve Now, Pay Later option in the US that has proved popular among guests and helped boost bookings in the fourth quarter, it said. The key metric of “nights and seats booked” grew 9.8% in the fourth quarter to 121.9 million, far exceeding expectations. The company plans to make the deferred payment option available to more guests globally in 2026. It also said more generous cancellation policies helped increase bookings in the holiday period and reduce customer service contacts. Reservations in Airbnb’s new international markets drove most of its gains, the company said, as they grew at roughly twice the rate as more established regions. First-time bookers in India grew more than 60%, making it one of the fastest-growing countries for Airbnb alongside Brazil and Japan. Investors looking for a wider profit margin may have to wait as Airbnb...

Pinterest press release ( PINS ): Q4 Non-GAAP EPS of $0.67 in-line. Revenue of $1.32B (+14.8% Y/Y) misses by $10M . For Q1 2026, the firm expects revenue to be in the range of $951 million to $971 million vs consensus of $981.28M, representing 11% - 14% growth year over year. Its guidance assumes the impact of foreign exchange to be approximately 3 points of tailwind, based on current spot rates. It expects Q1 2026 Adjusted EBITDA* to be in the range of $166 million to $186 million. Shares -19% AH. More on Pinterest Pinterest's Business Model Doesn't Fit Typical Social Media Valuations Pinterest: The 'Year Of Efficiency' Has Arrived, And I'm Loading Up Pinterest: Buying The Attribution Singularity At Value Prices Pinterest heads into Q4 results amid ad competition, margin focus OpenAI's advertising push could hurt Pinterest, Instacart: Wedbush

"Project Fresh" is what Wendy's (NASDAQ: WEN) is officially calling its turnaround plan. Wendy's stock has been on the decline for quite some time. The company is taking aggressive action to right the ship. With earnings due on Feb. 13, investors are anxious to see if those efforts are actually working. Last quarter, global sales were down 2.6%, and adjusted earnings per share fell 4%. The fast food chain began a downward spiral in late 2024, and it's continued to decline ever since. Over the past 12 months, Wendy's stock has fallen nearly 46%. For those who believe in the turnaround plan, Wendy's stock is currently extremely cheap. The stock is trading with a forward P/E ratio of around 9 and a price-to-sales ratio well under 1. Wendy's is hovering just above its 52-week low as of Feb. 9. Image source: Getty Images. Continue reading

Advanced Drainage Systems ( WMS ) on Thursday said it priced a private offering of $500 million aggregate principal amount 5.375% senior unsecured notes due 2034. The offering is expected to close on February 27, 2026. In connection with the issuance of the notes, the company expects to amend its existing senior secured credit facility to (i) increase the revolving credit facility from $600 million to $750 million, (ii) increase the term loan “B” from $408 million to $600 million, and (iii) extend the maturity date. The company intends to use the net proceeds from the offering, together with the proceeds of the term loan “B” portion of the Amended Credit Facility, to refinance the outstanding balance under the existing senior secured credit facility and redeem all of the company’s outstanding 5.000% senior notes due 2027 with the balance for general corporate purposes. Source: Press Release More on Advanced Drainage Systems Advanced Drainage Systems Is Doing Great, But That Doesn't Mean Gains Deserve To Flow Advanced Drainage Systems plans $500M senior notes offering, credit facility expansion Advanced Drainage Systems outlines $3.015B revenue target and highlights NDS integration while expanding margin outlook

媒体援引知情人士消息报道，意大利税务警察搜查了 亚马逊 位于米兰的办公室、七名亚马逊管理人员的住所，以及毕马威的办公室。 此次搜查与针对亚马逊的新逃税调查有关。 调查新方向聚焦亚马逊2019-2024年间是否在意大利设有未申报的常设机构，以及是否本应缴纳更多税款。 亚马逊在声明中表示，该公司在意大利缴纳了所有应缴税款，并对检方周四的行动感到意外。 毕马威拒绝回应置评请求。 责任编辑：王许宁

高速數據通信與可替代能源電力傳輸綜合解決方案提供商沃爾核材，招股獲逾500倍超額認購。 周五掛牌的沃爾核材，股份公開發售部分錄得約568倍超額認購，一手中籤率百分之0.33；國際發售超購7倍。 招股價每股20.09元，集資淨額約27.3億元。

Dutch Bros press release ( BROS ): Q4 Non-GAAP EPS of $0.17 beats by $0.07 . Revenue of $443.6M (+29.4% Y/Y) beats by $18.75M . 2026 Guidance Total revenues are projected to be between approximately $2 billion and $2.03 billion. Same shop sales 1 growth is estimated to be in the range of 3% to 5%. Adjusted EBITDA 3 is estimated to be between $355 million and $365 million, which includes the continued impact of elevated coffee costs, partially offset by leverage on Adjusted SG&A. Capital expenditures are estimated to be between $270 million and $290 million. Total system shop openings are estimated to be at least 181. More on Dutch Bros Dutch Bros Is Expensive For Its Stage In The Growth Curve Dutch Bros: A High-Growth Coffee Chain With Long-Term Upside Still Brewing Dutch Bros: One Of My Favorite Non-Tech Growth Plays Currently Dutch Bros Q4 2025 Earnings Preview Dutch Bros expands its retail store presence

trekandshoot Wynn Resorts ( WYNN ) traded lower in postmarket action on Thursday after the casino operator missed EPS estimates with its fourth-quarter earnings report. During Q4, operating revenues increased $33.4M at Wynn Palace and $7.7M at Wynn Macau, while falling $11.4M with Las Vegas operations and $2.5M at Encore Boston Harbor. In Macau, Wynn ( WYNN ) saw substantial increases in both VIP turnover and mass table drop, year-on-year as well as sequentially. Total operating revenue was up 0.1% in Q4 to $1.87B. In Las Vegas, the table games win percentage for Q4 was 21.8%, slightly below the property's expected range of 22% to 26% and below the 21.9% mark from a year ago. Wynn Resorts ( WYNN ) also saw table game win percentage declines at the Wynn Macau and Wynn Palace properties compared to a year ago. Wynn Resorts ( WYNN ) delivered adjusted property EBITDAR of $568.8M in Q4, down $50.3 million from the tally a year ago. Adjusted property EBITDAR decreased $26.6M for Las Vegas operations during the quarter. "Our fourth quarter results reflect continued strength throughout the business and ongoing progress in our global development initiatives," outlined Wynn Resorts ( WYNN ) CEO Craig Billings. "We also reached a significant milestone towards the completion and planned first quarter 2027 opening of Wynn Al Marjan Island, having topped out the tower in the quarter," he added. Wynn Resorts ( WYNN ) said it contributed $79.2M of cash to the 40%-owned joint venture that is constructing the Wynn Al Marjan Island development in the UAE, bringing the life-to-date cash contributions to the project to $914.2M. Wynn Al Marjan Island is currently expected to open in the first quarter of 2027. Shares of Wynn ( WYNN ) were down 3.6% in postmarket action. More on Wynn Resorts Wynn Resorts: High-End Resilience Amid Soft Tourism Wynn Resorts Non-GAAP EPS of $1.17 misses by $0.31, revenue of $1.87B beats by $10M Wynn Resorts Q4 2025 Earnings Preview Seeking Alpha’s Quant Rati...

Public Storage press release ( PSA ): Q4 FFO of $4.26 beats by $0.05 . Revenue of $1.22B (+3.4% Y/Y) beats by $10M . 2026 Guidance Public Storage's guidance for NOI Growth (Same Store and Non-Same Store) and Core FFO per share is included in the table below, all of which are reconciled in our accompanying quarterly financial supplement. 2026 Guidance Low High (Dollar amounts in thousands, except per share data) Same Store: Revenue growth (2.2)% —% Expense growth 1.5% 2.8% Net operating income growth (3.9)% (0.5)% Non-Same Store: Non-Same Store net operating income $335,000 $355,000 Core FFO per share: $16.35 $17.00 Click to enlarge FY FFO consensus is $17.03 FY Revenue consensus is $4.93B More on Public Storage Public Storage: Solid REIT To Watch, But Don't Ignore The Preferred Stock Public Storage's Slow Phase Is A Long-Term Opportunity Public Storage: You Can Lock 6% From The Preferreds 'Long Term' BofA downgrades Public Storage, Extra Space Storage ahead of Q4 earnings announcement Realty Income, FRT, other real estate firm ratings change at J.P. Morgan

PM Images/DigitalVision via Getty Images When I started buying Fairfax Financial Holdings Limited ( FRFHF ) in the second half of 2025, the stock had already climbed more than 400% over the last five years. It outperformed not just its peers but all indices by a wide margin. I know many of you might not have even heard about this company, and that's fair. This is a Canadian company, not much followed. It's not a fancy tech, space, or drone manufacturer but a good old P&C (Property & Casualty) insurance business that is still trading at valuations that I find very attractive. Data by YCharts Thesis At a price-to-earnings multiple of 8x, I see Fairfax as extremely undervalued compared to other companies in its space, like Intact Financial ( IFC:CA ) and Markel ( MKL ). It has been consistently achieving a 15%+ Return on Equity in addition to a combined ratio near or below 95, which is a combination that you don't see every day in a company trading at this valuation. On top of that, as if trading at a price-to-book (P/B) multiple near 1.47x for a business that aims to grow its book by 15% every year and has actually been doing it successfully isn't cheap enough, there is roughly $117 per share hidden value ( later in this article ) that is not included in the book value today. Adding it increases the BVPS from ~$1203 to $1320, dropping the P/B multiple to 1.29x. At a midpoint of 12% EPS growth from a combination of interest income, insurance premium income, equity gains, and share buybacks, I see a 42% upside from the current price with a price target of around $2400 for the next 12-18 months. Business Overview In very basic terms, I see Fairfax as a holding company that is in the business of writing Property & Casualty insurance to generate float, which it can then invest and generate returns on, much like Berkshire Hathaway. On the insurance side, its goal is to maintain a low combined ratio . This essentially means getting paid to hold the float. Even though Fairfax...

HA Sustainable Infrastructure Capital press release ( HASI ): Q4 Non-GAAP EPS of $0.67 beats by $0.01 . Revenue of $114.81M (+13.3% Y/Y) beats by $86.07M . We expect Adjusted Earnings per Share in the range of $3.50 to $3.60 in 2028. In addition, we expect Adjusted Return on Equity of more than 17% in 2028. We also expect distributions of annual dividends per share of common stock to decline to less than 50% of annual Adjusted Earnings per Share by 2028 and less than 40% by 2030. More on HA Sustainable Infrastructure Capital HA Sustainable Infrastructure: Capacity Needs Outweigh Policy Headwinds HA Sustainable Infrastructure: Structural Advantage In Their Investments HA Sustainable Infrastructure Capital Q4 2025 Earnings Preview HASI, Sunrun launch $500M joint venture to finance distributed power development Seeking Alpha’s Quant Rating on HA Sustainable Infrastructure Capital

Alliance Entertainment Holding press release ( AENT ): Q2 GAAP EPS of $0.18 misses by $0.13 . Revenue of $3.69B (-6.3% Y/Y) beats by $3.28B . More on Alliance Entertainment Holding Alliance Entertainment Holding Corporation (AENT) Discusses Operating Platform, Recent Financial Performance, and Strategic Priorities Transcript Mid to low cap consumer discretionary stocks with the strongest earnings momentum Seeking Alpha’s Quant Rating on Alliance Entertainment Holding Historical earnings data for Alliance Entertainment Holding Financial information for Alliance Entertainment Holding

【有線新聞】行政長官李家超到油麻地落區，與駿發花園居民交流，亦探訪長者中心。 新年將至，行政長官李家超到油麻地駿發花園落區，勞福局局長孫玉菡、民青局局長麥美娟亦到場。他先與在附近參觀油麻地警署的遊客拍照，李家超之後提早與駿發花園居民拜年。「大家馬到功成，一馬當先，事事順利，小朋友學業進步。」 他上樓家訪後，再到公園與居民交流。「約好朋友去飲茶，一去到就有班老友記，我都很嚮往這些生活。」「最重要平時想到做甚麼就做甚麼，找朋友一起相聚。」「我以前都是在屋邨長大，最欣賞就是認識一班街坊，大家不用相約，一過節就做同一件事，例如中秋節玩蠟燭，過年和鄰居製作『角仔』。」 李家超之後轉到長者社區服務中心，與老友記一同唱歌，逐一送上賀年禮物。

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