美国国债期货跌至日内低点，收益率飙升，此前公布的1月非农就业数据超预期，失业率从4.4%降至4.3%。 美债收益率曲线熊市趋平，各期限收益率走高3-8个基点，2s10s和5s30s利差日内走低4个基点和5个基点。 与美联储会期对应的OIS出现鹰派转向，预计到年底前有大约50个基点的降息，周二收盘时为59个基点；充分消化的首次降息时间从6月延迟至7月。 责任编辑：李肇孚

【卑詩省槍擊案】 加拿大卑詩省一個小鎮發生槍擊案，最少十人死亡，死者包括一名槍手，另外有超過二十五人受傷。總理卡尼對事件感到震驚，擱置到德國出席慕尼黑安全會議。 加拿大警方當地周二下午一時許發出警報，指卑詩省塔布勒嶺中學發生槍擊案，呼籲居民鎖好門窗，留在室內。根據卑詩省政府網站的資料，涉事中學有175名學生。 省長伊比指，警方接報後兩分鐘抵達現場，發現七名死者包括槍手，而一名傷者送院期間死亡。另外在一間相信與案件有關的屋中，發現多兩名死者。警方指槍手是一名身穿連身裙的女子，相信是自殺身亡。 加拿大卑詩省公共安全及法務廳長克里格稱：「緊急警報已經解除，但塔布勒嶺的居民仍處於危機狀態，這宗集體槍擊案是我們省及加拿大歷來最嚴重的槍擊案之一。」 警方又指正調查槍手身份，及其與學校的聯繫，但指要查明犯案動機，可能非常困難。 總理卡尼在社交平台發文稱，對發生嚴重槍擊案感到震驚，承諾聯邦政府將全力善後。因應發生槍擊案，卡尼押後前往哈利法克斯，亦擱置到德國出席慕尼黑安全會議的行程。 塔布勒嶺位於溫哥華以北約千多公里，位置偏遠，人口只有約二千四百人。 【貝森特談中美關係】 美國總統特朗普計劃四月訪華，財長貝森特就指美國不想跟中國脫鈎，但要降低風險，並有意在半導體、關鍵礦產等領域取得主導權。中方早前指維護開放、包容、普惠的國際貿易環境，符合各國共同利益。 美國財長貝森特周二在巴西聖保羅出席論壇，稱美中關係目前處於非常舒適狀態，即使兩國一直是對手，但希望雙方可以公平競爭，他相信競爭可使雙方進步，避免停滯不前。 貝森特又稱，美國不想跟中國脫鈎，但有必要降低風險。對於跟北京建立富有成效的關係，他對此感到樂觀；又稱長遠而言，中國必須重新平衡經濟結構，相信世界不會容忍中方持續一萬億美元貿易順差，這情況不可能出現。 貝森特稱，美方正努力從中國戰略產業，包括藥物、半導體，關鍵礦產等奪取主導權。美國早前倡議多國組成關鍵礦產貿易集團，避免今後再受第三方干擾成員國的製造業發展。美國副總統萬斯早前稱，目前礦產供應鏈很脆弱，有人惡意壓低關鍵資源價格。 貝森特準備未來數星期內再會晤國務院副總理何立峰，為美國總統特朗普訪華做準備。對於有美國傳媒指，特朗普將於四月首個星期訪華，屆時可能跟國家主席習近平討論台灣議題，白宮就稱，美中元首會晤的確實日期未定。 對於美國組建所謂「關鍵礦產聯盟」，中方早前表明，維護開放、包容...

A leaked letter from the Philippines ’ foreign secretary has exposed a fault line in the country over how to publicly confront Beijing in the South China Sea , days before the Department of Foreign Affairs (DFA) created its own maritime spokesman role. The new position was in addition to existing voices from the Philippine coastguard, armed forces and the National Maritime Council. The episode has cast a spotlight on a delicate balancing act in President Ferdinand Marcos Jnr ’s China policy: between a military-led “transparency initiative” that publicly documents maritime run-ins to rally domestic and international support, and a more traditional diplomatic approach that seeks to preserve room for negotiations with Beijing, including talks on a long-delayed code of conduct Advertisement Government and military officials have said the new DFA post does not signal disarray, but instead reflects different institutional roles addressing the same issue, with all agencies aligned behind a single message – that the Philippines will assert and defend what it says are its claims in the South China Sea while pursuing diplomacy. The January 20 letter, written by Foreign Affairs Secretary Ma. Theresa P. Lazaro to opposition Senator Risa Hontiveros, argued that maritime disputes were best handled through diplomatic channels and cautioned against public exchanges that could narrow the country’s “diplomatic space”, according to accounts cited by Filipino academic Dr Jeffrey Ordaniel. Advertisement Hontiveros’ office has not responded to requests from This Week in Asia for a copy of the letter.

Artur/iStock via Getty Images Criteo ( CRTO ) reported quarterly results that fell short of Wall Street expectations for earnings, sending its shares down 8.9% in premarket trading Wednesday. The ad-tech company posted fourth quarter revenue of $541 million, down 2% from $553 million a year earlier. Adjusted earnings were $1.30 a share, compared with $1.75 a share in the year-earlier quarter and below analysts’ estimates of $1.41 a share. Net income fell to $46 million, or $0.90 a share, from $72 million, or $1.23 a share. Gross profit edged down 1% to $297 million, while gross profit margin improved to 55% from 54% a year ago. Contribution ex-traffic acquisition costs declined 1% year over year to $330 million, in line with the consensus estimate of $329 million. Retail media pressure weighs on quarter Retail media revenue decreased 17% year over year, reflecting previously disclosed scope changes with two clients. Performance media revenue increased 1%, supported by traction in full funnel and cross channel activation. Adjusted earnings before interest, taxes, depreciation and amortization was $120 million in the quarter, down 17% from $144 million a year earlier. Adjusted ebitda margin was 36% of contribution ex-TAC, compared with 43% in the prior year. Operating expenses rose 9% to $225 million, driven by planned growth investments. Full year profit rises, cash flow strengthens For the full year, Criteo ( CRTO ) generated revenue of $1.9 billion, up 1% from the prior year. Net income rose to $149 million, or $2.64 a share, from $115 million, or $1.90 a share. Adjusted earnings before interest, taxes, depreciation and amortization for 2025 increased 4% to $407 million. Adjusted diluted earnings for the year were $4.62 a share. Cash flow from operating activities climbed 21% to $311 million, while free cash flow increased 16% to $211 million. Criteo S.A. ( CRTO ) ended the year with $389 million in cash and marketable securities. “We delivered strong performance f...

GCI Liberty, Inc. press release ( GLIBK ): Q4 Revenue of $263M misses by $1.3M . GCI generated net cash provided by operating activities of $370 million and free cash flow (3) of $146 million for the twelve months ended December 31, 2025 Consumer cable modem subscribers (4) declined 3% to 151,200 and consumer wireless lines (4) in service increased 2% to 199,000 GCI Liberty completed its approximate $300 million rights offering in December 2025 More on GCI Liberty, Inc. GCI Liberty: Fairly-Valued And Increasingly Exposed GCI Liberty reports Q4 results Seeking Alpha’s Quant Rating on GCI Liberty, Inc. Historical earnings data for GCI Liberty, Inc. Financial information for GCI Liberty, Inc.

格隆汇2月11日｜美国1月非农就业数据意外录得13万人，该数据几乎超过了所有投行的预期，仅有两家投行的预期高于公布值。一家是花旗，该行预测1月非农将新增13.5万个就业岗位，另一家是桑坦德银行，该行的预期值是13万个。

Urban Edge ( UE ) declares $0.21/share quarterly dividend , 10.5% increase from prior dividend of $0.19. Forward yield 3.99% Payable March 31; for shareholders of record March 13; ex-div March 13. See UE Dividend Scorecard, Yield Chart, & Dividend Growth. More on Urban Edge Urban Edge: Buy High-Quality Real Estate At A Bargain Price Urban Edge FFO of $0.36 in-line, revenue of $119.56M beats by $15.92M Seeking Alpha’s Quant Rating on Urban Edge Historical earnings data for Urban Edge Dividend scorecard for Urban Edge

格隆汇2月11日｜Shopify(SHOP.US)高管：自2025年1月起，通过AI搜索进入Shopify商店的订单增长了15倍。

Diy13/iStock via Getty Images Overview PennantPark Investment Corporation's ( PNNT ) continuous decline in share price has now caused this business development company, or BDC, to offer one of the highest dividend yields in the sector. The BDC's decline has caused PNNT to trade at a more enticing price-to-NAV valuation in relation to its historical range. Despite this, I do not believe that it is time to accumulate shares due to some concerns around its future growth potential and ability to navigate challenging market conditions. When I previously covered PNNT, I issued a Sell rating due to the NAV decline and the poor earnings growth. Since then, the share price has continued to slowly trickle lower. Looking at the performance over the last twelve months, we can see that PNNT's share price has declined by 20.8%. PNNT has failed to participate in the market rally over the last few quarters. Even when including all distributions that were paid out to shareholders, the total return sits at a loss of 8.6% over the same time frame. PNNT's share price has fallen so low that it now offers investors a starting dividend yield of ~16.8%. Despite this high yield, I don't think that income investors should run to initiate a position just yet. Data by YCharts PNNT has recently reported its fiscal Q1 earnings , so I wanted to revisit the BDC to reassess its overall value proposition throughout 2026. While PNNT has shown some slight improvements, I think there is still plenty of progress to be made. Therefore, I do not feel comfortable re-entering at this time. Q1 Earnings According to the latest portfolio breakdown, PNNT has investments at a fair value of ~$1.2B that are spread across a diverse range of debt securities. Unlike traditional equities, PNNT's portfolio doesn't entirely rely on the earnings growth of their positions to succeed. PNNT essentially lends capital to middle market businesses and collects interest or equity in exchange. PNNT's portfolio is a bit more compl...

(RTTNews) - Frontier Group Holdings (ULCC), parent company of Frontier Airlines, announced a non-binding agreement with AerCap Holdings N.V. (AER) for the early return of 24 A320neo aircraft currently in operation, all of which have lease agreements scheduled to expire within the next two to eight years. The 24 returns are expected to be completed during the second quarter of 2026. In turn, AerCap will agree to 10 future sale-leaseback transactions for deliveries scheduled for the years 2028 and 2029. Separately, the company reached a non-binding framework agreement with Airbus SAS to defer the induction of 69 A320neo family aircraft which were otherwise expected to be contractually delivered between 2027 and 2030. The deferred aircraft are rescheduled to be delivered in 2031 through 2033. The company expects to incur certain one-time expenses associated with the completion of the lease termination agreement. Upon closing, the fleet modifications, among other identified cost saving opportunities, are targeted to generate annual run-rate cost savings of approximately $200 million by 2027 and moderate the company's long-term annual capacity growth to approximately 10 percent. As of December 31, 2025, Frontier had a fleet of 176 Airbus single-aisle aircraft, all financed through operating leases that expire between 2027 and 2037. For the first quarer, the company projects adjusted loss per share in a range of $0.26 to $0.44. For fiscal 2026, the company expects per share results between a loss of $0.40 and profit of $0.50. In pre-market trading on NasdaqGS, Frontier shares are up 9.7 percent to $6.54. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

NVDA vs. AVGO: Which ‘Strong Buy’ AI Chip Stock has More Upside Before Earnings? TipRanks

文章提及标的 美光科技 -- 美光科技（MU）美股盘前涨超5%，现报394.87美元。

NVDA vs. AVGO: Which AI Chip Stock Analysts Prefer Ahead of Earnings? TipRanks

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Torsten Asmus U.S. Treasury yields rose sharply on Wednesday after the nonfarm payrolls growth shocked to the upside in January, leading to traders fully pricing the Federal Reserve cutting rates by July. The yield on the benchmark 10-year Treasury note ( US10Y ) rose five basis points to 4.21% at the time of writing. Yields were pulled higher across the curve, with the 2-year tenor ( US2Y ) up nine bps to 3.56% and the 30-year ( US30Y ) higher by two bps to 4.83%. The U.S. nonfarm payrolls added 130K jobs in January, outstripping the +70K consensus and far higher than the +48K in December, which was revised from the initial +50K estimate, according to data released by the Bureau of Labor Statistics. Meanwhile, the unemployment rate increased 4.3% vs. 4.4% consensus and 4.4% prior. After the labor data, traders were now seeing July as the first meeting where a quarter-point cut will be the more likely outcome, as compared to the previous expectations of it happening in June. Treasury ETFs: ( TLT ), ( TLH ), ( IEF ), ( IEI ), ( SHY ), ( SGOV ), ( SCHO ), and ( BIL ). More on markets Mixed Economic Signals Complicate Fed Rate Cut Path Rout In The U.S. Dollar: A Warning For Non-Farm Payrolls? China May Quietly Start Dumping Even More U.S. Treasuries Prepare for payrolls to come in flat for January - Bloomberg U.S. Q4 GDP estimate cut to 3.7% growth as consumer spending moderates

4x6/iStock via Getty Images Main Thesis/Background The purpose of this article is to discuss the ProShares UltraShort Bloomberg Crude Oil ETF ( SCO ) as an investment option at its current market price. SCO is a double short instrument designed to return double the inverse of crude oil futures contracts. This is an ETF I monitor closely because when oil seems overbought, it can provide investors with a way to earn an amplified return on their bet. I wrote about SCO just over a year ago, and I reiterated a bearish call on this ETF. I saw oil prices as having limited downside and felt the risk of this play was not justifiable. In truth, SCO saw some big swings in both directions in 2025. But the net result thirteen months later for this ETF is a loss while the equity market rallied: Fund Performance (Seeking Alpha) The point here is not to take a victory lap of sorts because I am the first to admit traders may have done well with SCO last year. If you timed it well, you could have made a tidy profit. But the result over time is what it is, and that is the telling part of this story. It has reinforced to me that this is not a suitable investment for long stretches of time, and I am writing this review to reinforce this thesis and explain why with the recent year as a great example. Simply put, I don't advocate retail investors hunting for short-term plays, and this fund is basically designed for just that. So it continues to be an “avoid” for me. A Short-Term ETF By Design: 2025 Reflects It In this review I will continue to implore my followers to understand the nature of SCO with respect to how it should be approached. This ETF has an inverse strategy and is leveraged, which makes this a very risky play for retail investors. As a result, this is a product for short-term positions. This is a sentiment shared by the managers of the fund too, as SCO's profile page says: SCO's Disclaimer (ProShares) SCO suffers from roll yield, expenses, and elevated volatility that puts ...

Simpson Manufacturing is on track to sustain growth, improve margin, grow profits, and pay capital returns; institutions are accumulating this stock.

Hyperliquid Strategies Inc. press release ( PURR ): 1H Revenue of $0.9M. Net loss of $317.9 million for the six months ended December 31, 2025, primarily attributable to $262.4 million in unrealized losses on HYPE tokens due to market volatility, a one-time $35.6 million IPR&D write-off related to the acquisition of the legacy Sonnet business and a $17.8 increase in deferred tax expense. More on Hyperliquid Strategies Inc. Seeking Alpha’s Quant Rating on Hyperliquid Strategies Inc. Historical earnings data for Hyperliquid Strategies Inc. Financial information for Hyperliquid Strategies Inc.

GCI Liberty, Inc. press release ( GLIBA ): Q4 Revenue of $262M (-0.4% Y/Y) misses by $2.3M . Operating income was flat at $32 million and Adjusted OIBDA grew 7% to $90 million. GCI Consumer revenue decreased 2%. GCI Business revenue grew 1%. GCI generated net cash provided by operating activities of $370 million and free cash flow of $146 million for the twelve months ended December 31, 2025. Consumer cable modem subscribers declined 3% to 151,200 and consumer wireless lines in service increased 2% to 199,000. GCI Liberty completed its approximate $300 million rights offering in December 2025. More on GCI Liberty, Inc. GCI Liberty: Fairly-Valued And Increasingly Exposed Seeking Alpha’s Quant Rating on GCI Liberty, Inc. Historical earnings data for GCI Liberty, Inc. Financial information for GCI Liberty, Inc.

Toromont press release ( TMTNF ): Q4 GAAP EPS of $1.93. Revenue of $1.42B (+9.2% Y/Y) beats by $577.85M . More on Toromont Industries Seeking Alpha’s Quant Rating on Toromont Industries Historical earnings data for Toromont Industries Dividend scorecard for Toromont Industries Financial information for Toromont Industries

US hiring beat forecasts in January as nonfarm payrolls increased 130,000 last month and the jobless rate declined to 4.3%, according to Bureau of Labor Statistics data out Wednesday. Enda Curran reports on Bloomberg Television. (Source: Bloomberg)

Bruce Bennett/Getty Images News T-Mobile US (NASDAQ: TMUS ) provided a lukewarm forecast along with a mixed fourth-quarter report, which included a bottom-line miss and lower-than-expected postpaid phone net customer additions. Shares of the company are down 5.5% in premarket trading on Wednesday. For 2026, the telecom guided adjusted FCF between $18B and $18.7B, lower than the $18.92B estimate polled by Bloomberg, and core adjusted EBITDA is forecast between $37B and $37.5B (midpoint $37.25B, est. $37.3B). The company expects to spend $10B for the year, slightly better than the $10.12B estimate. Postpaid net account additions are expected to be between 900,000 and 1M. In Q4, postpaid net customer additions were 2.38M, ahead of the 1.92M estimate, but postpaid phone net customer additions were 962,000, below the 991,709 estimate. Postpaid net account additions were 261,000, down by 2,000 year-over-year. T-Mobile's 5G broadband net customer additions rose by 67,000 to 495,000. It ended the quarter with 8.5M 5G broadband customers. Total broadband net customer additions rose by 126,000 from last year to 558,000, including 63,000 fiber net customer additions. Postpaid phone churn was 1.02%, up 10 basis points from last year. Postpaid phone ARPU was $50.71 vs. the estimate of $50.77. Prepaid net customer additions fell 44.7% to 57,000 year-over-year. Prepaid churn was 2.76%, down 9 basis points. Prepaid ARPU was $33.33 vs. the estimate of $33.77. At the end of Q4, the company had 142.39M total customers (est. 141.67M), up from 129.53M customers for the same period last year. For the three months ended December 31, net income fell to $2.10B from $2.98B a year ago, hurt by a severance-related cost of $293M. On a per-share basis, the company earned $1.88, missing the average analyst estimate by 18 cents. Revenue rose 11% to $24.33B and was above the consensus estimate of $24.2B. Separately, the company announced that it has embedded real-time artificial intelligence into i...

格隆汇2月11日｜外媒：美国1月医疗保健行业的就业表现再次突出，新增就业岗位8.2万个。建筑业新增就业岗位3.3万个。联邦政府就业人数减少了3.4万人。

The US jobs market added 130,000 jobs in January, according to a highly anticipated labor market report released on Wednesday, a surge of job growth after months of fatigue in the labor market. The unemployment rate was 4.3% in January, a slight cooling since the fall. Economists predicted 70,000 in job gains and an unchanged unemployment rate for January. The gains are still 13,000 jobs less than the the 143,000 jobs added a year ago in January 2025, but more than double the 50,000 jobs that were added in December. Despite January’s boost to the labor market, the report also included revisions to the total number of new jobs in 2025. After revisions, total new jobs for the year was 181,000, down from an initially reported 584,000 jobs, marking the weakest year of job growth since the Covid-19 pandemic. In comparison, 2m jobs were added to the economy in 2024. The report comes after a tumultuous year for the US economy, with constantly changing trade and immigration policies marring the labor market with instability. The jobs report, originally scheduled for release on 6 February, was also delayed by the Bureau of Labor Statistics due to the brief government shutdown in early February. In advance of the report, private payroll grew by only 22,000 jobs in January, below economists’ expectations of 45,000 jobs. Last year, private payrolls gained 140,000 jobs during the same period. US employers announced 108,435 layoffs in January 2026, according to outplacement firm Challenger, Gray & Christmas, up 118% from January 2025 and the highest to start a year since 2009. Job openings in the US dropped in December 2025 by 386,000 jobs to 6.542m, the lowest level since September 2020, according to the Job Openings and Labor Turnover Survey (Jolts) report released last week. On Tuesday, the White House adviser Peter Navarro warned against high expectations for the monthly jobs number, claiming that new jobs would be in the 50,000 range. “We have to revise our expectations down...

格隆汇2月11日｜摩根士丹利经济学家Michael Gapen：非农报告“基本属实”。平均时薪数据表明，这些新增就业岗位质量很高。

Gri-spb/iStock via Getty Images Pembina Pipeline Corporation ( PBA ), a North American midstream energy infrastructure company operating a network of pipelines and related assets in Canada and the US, has seen its share prices increase 7.6% since my last report, outperforming the S&P 500’s 4.8% return. In this report, I discuss why I like Pembina, assess the earnings expectations for Q4, and update my price target. Pembina Is Positioned Well With Three Interconnected Value Chains Pembina, in my view, is positioned well due to the company’s infrastructure setup complemented by the setup of the revenue model that many investors love about midstream companies. The Pembina Value Chains Pembina Pipeline Corporation (January Investor Update) Pembina’s network is built around an integrated system of pipelines, storage, fractionation facilities, and terminals organized into three interconnected value chains: Natural Gas. Natural Gas Liquids or NGLs. Oil & Condensates. Natural gas is transported through a network of pipelines of Alliance Pipelines and third parties to fractionation facilities and will be passed through to the Cedar LNG export terminal. From this natural gas stream, NGLs are extracted and fed into the NGL value chain, which transports ethane, propane, and butane to storage, fractionation, and distribution facilities, including the LPG export terminal. Heavier hydrocarbons are extracted and fed into the Oil & Condensates value chain into the C5 and oil pipelines towards the Edmonton Terminals and Canadian Diluent hub, and from there proceeds to the wharves of Vancouver. The interconnection between these three value chains creates operational flexibility, provides a potential competitive advantage, and allows for optimizing value extractions. Business Structure Of Pembina Pipeline Corporation Pembina is organized into three divisions: Pipelines. Facilities. Marketing & New Ventures. From a commodity perspective, the business is well balanced. Crude and oil cond...

时隔两年半后再次访华的盖茨，对中国和世界又有了新的认识。 时隔两年半后，盖茨基金会主席比尔·盖茨再次回到中国。 盖茨此次行程首先抵达中国海南，参观、了解中国在农业领域的创新进展，随后抵达上海，关注于传染病防控和母婴健康，上述三大领域都是盖茨基金会（以下简称“基金会”）关注的重点。2月11日傍晚，盖茨还意外在上海张江现身，出席一场名为“行动创造希望”的活动。 在行程间隙，盖茨接受了第一财经记者的专访。在专访中，盖茨就对华合作、人工智能潜力乃至围绕其个人声誉的争议，都进行了坦诚和系统的回应。这是盖茨在2023年6月到访北京后的首次访华。在过去30年中，盖茨到访中国20多次。 始终看好中国创新 “中国在过去三代人的时间里，积累了大量的农业发展和教育改善的经验，其实可以问问你们的祖父母，在（中国）取得这些成功前，是什么样子的”，在专访伊始，盖茨就以此称赞中国在短期内实现现代化的成绩。 盖茨对第一财经表示，中国正在大幅提升在农业研究方面的投入，对于在海南的参观，他对无融合生殖杂交水稻印象深刻，“取得了难以置信的成果”。 2019年，美国科学家和中国农科院中国水稻研究所水稻生物学国家重点实验室王克剑团队分别在常规稻和杂交稻中建立了人工无融合生殖体系，首次获得了水稻的克隆种子，这项技术如若实现市场化，农民将不必每年购买杂交水稻稻种，只要自留种也能实现高产。 盖茨进一步表示，中国的农业体系十分成功，在创新领域的加速进步更是有目共睹。盖茨进一步表示，盖茨基金会与中国有着共同愿景，即推动创新成果惠及最需要的人群，帮助非洲在内的全球最贫困地区和人群。 “我始终看好中国的创新能力，在新药研发等领域的发展速度甚至超出我的预期”，盖茨面带微笑地表示。他告诉第一财经，人工智能的应用将进一步加速创新进程，特别是在生物学等复杂的领域，中美两国都在这些领域开展了卓越的工作，能够更快发现新工具。 他还表示，基金会在北京联合创办了全球健康药物研发中心，也对上海创办的全球健康创新研究院提供了赠款支持。作为微软的创始人，盖茨还透露他在10日下午还参观了微软亚洲研究院在上海的实验室。盖茨表示，上述机构都在进行着卓越的研究工作。 “希望培育出人工智能老师” 对于时下热门的人工智能，盖茨表示希望未来将培育出能够理解个体兴趣与追求的“人工智能老师”。它不仅能够承担教育职责，更能洞察学习者困惑与挫败的深层原因，相当于一...

Marco VDM/E+ via Getty Images Thesis Evommune ( EVMN ) stock has done extremely well this week due to some very positive data from their EVO301 Phase 2a study. The study focused on moderate-to-severe atopic dermatitis ( AD ) and showed very rapid and statistically significant reductions in EASI scores at weeks 4, 8, and 12. There was also a 33% placebo-adjusted improvement, with 23% of patients achieving vIGA-AD 0/1 by week 12. On the day of the announcement, the stock surged roughly 70% simply due to how promising the results were. What made the market even more bullish is that EVO301 may also have potential in other therapeutic areas since it targets more than one immune axis. The company is also going through with a Phase 2b dose-selecting study, but this time with a subcutaneous formulation. Subcutaneous formulations are far more convenient than intravenous injections, so I think part of that stock surge has a bit of positive pricing in around this Phase 2b study. Personally, while I'm impressed by the results, I still see a few risks inherent to EVO301 due to the early stage of the candidate, but also the fact that IL-18 essentially acts as an alarmin that amplifies signals across Th1, Th2, and Th17/22. So in neutralizing interleukin-18, there could be other unknown effects. This is one of the main reasons I have chosen a hold rating rather than a buy. The other reason is the sheer size of the stock jump. At a 70% surge, those who held Evommune stock prior to this week may now be looking to cash in on profits, so there may be a share price pullback. So overall, I wouldn't advise jumping in at these levels but possibly waiting until later in 1H26. Just to be clear, I do think we could see more stock momentum ahead, but with such a stock price surge, it could be best to wait for a more appropriate level. EVO301 As a quick recap, EVO301 is a pretty long-acting, injectable SAFA-IL-18BP fusion protein. It's essentially designed to treat chronic inflammatory diseases...

美国1月的招聘人数超出预期，失业率也意外下降，表明劳动力市场在年初继续趋于稳定。 美国劳工统计局周三公布的数据显示，非农就业者上个月增加了13万人，失业率则下降至 4.3%。 随着每年1月非农报告的发布，劳工统计局将就业人数基准锚定在更准确但时效性稍差的“就业和薪资季度普查”系列数据。该数据基于各州失业保险税记录并涵盖了美国大部分就业岗位。 经调整后的数据显示，截至2025年3月的12个月内，新增就业人数比最初公布的数据减少近90万。这一数字与劳工统计局的初步预测大致相符。 该报告原定于2月6日发布，但由于联邦政府部分停摆而延迟。 责任编辑：李肇孚

格隆汇2月11日｜伯恩斯坦：将苹果(AAPL.US)目标价从325美元上调至340美元。