XtockImages/iStock via Getty Images Introduction It has been a couple of high-stakes months for GE Vernova (NYSE: GEV ) since I last reviewed it back in late October . The company has transitioned from a massive grid-leader acquisition to now navigating significant political and operational hurdles in its wind division. I will go through the company’s recent earnings to assess if the company is st...
XtockImages/iStock via Getty Images Introduction It has been a couple of high-stakes months for GE Vernova (NYSE: GEV ) since I last reviewed it back in late October . The company has transitioned from a massive grid-leader acquisition to now navigating significant political and operational hurdles in its wind division. I will go through the company’s recent earnings to assess if the company is still egregiously overvalued or if the narrative for its power and electrification segments has changed Current Dynamics GEV just released its quarterly earnings , and there is a lot to take away. It reported a shocking $13.39 in, which I first believed was a typo as estimates stood at around $3.2. Though it is important to dive deeper and understand that the beat was largely driven by a massive $2.9B one-time tax benefit . On the revenue front, the company saw sales reach $11B for the quarter, up around 4% Y/Y, slightly beating expectations and pushing the FY 2025 revenue figure to hit $38.1B. Even without the tax hit, the performance was relatively robust with orders surging by 65% in the quarter to $22.2B, pushing the total backlog to a staggering $150B . Looking at FCF, it has more than doubled in 2025 to $3.7B, proving that the company is able to generate significant cash even while fixing its Wind business. Diving into GEV's segments, the big winner has been Electrification, which saw its revenue jump by 32% in Q4 thanks to apparently insatiable demand for grid equipment from data hyperscalers. This has pushed EBITDA margins to hit 17.1%, up from 13%, which has made it the most profitable part of the business right now. On the Power side, orders were up 77% thanks to the slot strategy. The company has 83GW of turbine capacity already reserved by utilities through 2026/2027. Nuclear also saw a boost as small modular reactors and traditional nuclear services gained traction in the clean firm power conversation. On the wind side, which has generally been the anchor of the ...
Add Decrypt as your preferred source to see more of our stories on Google. Create an account to save your articles. Create an account to save your articles. The price of Bitcoin fell to a two-month low on Thursday, wavering alongside equities and precious metals as Microsoft’s post-earnings tumble deepened. The leading digital asset by market cap recently changed hands around $84,400, a 5% decreas...
Add Decrypt as your preferred source to see more of our stories on Google. Create an account to save your articles. Create an account to save your articles. The price of Bitcoin fell to a two-month low on Thursday, wavering alongside equities and precious metals as Microsoft’s post-earnings tumble deepened. The leading digital asset by market cap recently changed hands around $84,400, a 5% decrease over the past day, according to CoinGecko. Altcoins including Ethereum and Solana notched steeper declines, falling 6.4% and 6.8% to $2,800 and $117, respectively. Crypto liquidations surged, with more than $800 million worth of leveraged positions forcibly closed over the past day, according to CoinGlass. Nearly $700 million worth of losses stacked up for long positions. And a $31 million position was wiped out on Hyperliquid. Following its blistering past $5,600 per ounce on Wednesday, the price of gold decreased 0.6% to $5,300. Silver meanwhile dropped 0.8% to $112 per ounce. Microsoft shares fell more than 12% to recently change hands around $422, according to Yahoo Finance. Although the tech behemoth’s second-quarter earnings results surpassed Wall Street expectations, a slowdown in cloud sales growth and CapEx spending sparked investor jitters. The tech-heavy Nasdaq Composite plunged more than 2%, erasing much of its year-to-date gains. The index hit a record high earlier this week alongside the S&P 500, which fell 1.1%. Editor's note: This story is breaking and will be updated with additional details.
Image source: The Motley Fool. Thursday, January 29, 2026 at 10 a.m. ET CALL PARTICIPANTS President and Chief Executive Officer — Lane Riggs Executive Vice President and Chief Financial Officer — Homer Bhullar Executive Vice President and Chief Operating Officer — Gary Simmons Executive Vice President — Randy (surname not stated in transcript) Executive Vice President — Eddie (surname not stated i...
Image source: The Motley Fool. Thursday, January 29, 2026 at 10 a.m. ET CALL PARTICIPANTS President and Chief Executive Officer — Lane Riggs Executive Vice President and Chief Financial Officer — Homer Bhullar Executive Vice President and Chief Operating Officer — Gary Simmons Executive Vice President — Randy (surname not stated in transcript) Executive Vice President — Eddie (surname not stated in transcript) Executive Vice President — Eric Fisher Executive Vice President — Rich Walsh Vice President, Investor Relations — Brian Donovan TAKEAWAYS Net Income Attributable to Stockholders -- $2.3 billion, or $7.57 per share, reported for the year, down from $2.8 billion, or $8.58 per share, in 2024. -- $2.3 billion, or $7.57 per share, reported for the year, down from $2.8 billion, or $8.58 per share, in 2024. Adjusted Net Income Attributable to Stockholders -- $3.3 billion, or $10.61 per share, versus $2.7 billion, or $8.48 per share, in 2024. -- $3.3 billion, or $10.61 per share, versus $2.7 billion, or $8.48 per share, in 2024. Refining Segment Operating Income -- $1.7 billion for the year compared to $437 million the prior year. -- $1.7 billion for the year compared to $437 million the prior year. Renewable Diesel Segment Operating Income -- $92 million, down from $170 million in 2024. -- $92 million, down from $170 million in 2024. Ethanol Segment Operating Income -- $117 million, up from $20 million in 2024. -- $117 million, up from $20 million in 2024. Refining Throughput Volumes -- Averaged 3.1 million barrels per day, representing 98% capacity utilization and a record high for both the quarter and year. -- Averaged 3.1 million barrels per day, representing 98% capacity utilization and a record high for both the quarter and year. Refining Cash Operating Expenses -- $5.3 per barrel in the year. -- $5.3 per barrel in the year. Renewable Diesel Sales Volumes -- Averaged 3.1 million gallons per day. -- Averaged 3.1 million gallons per day. Ethanol Production Volumes...
Rivian Automotive, Inc. RIVN, an electric truck maker, is supporting a citizen-led ballot initiative in Washington state that would permit EV manufacturers to sell vehicles directly to consumers, intensifying a long-standing battle over auto sales regulations that currently give Tesla, Inc. TSLA a unique advantage. Rivian has committed $4.6 million to the effort in a bid to level the playing field...
Rivian Automotive, Inc. RIVN, an electric truck maker, is supporting a citizen-led ballot initiative in Washington state that would permit EV manufacturers to sell vehicles directly to consumers, intensifying a long-standing battle over auto sales regulations that currently give Tesla, Inc. TSLA a unique advantage. Rivian has committed $4.6 million to the effort in a bid to level the playing field with Tesla. The push is being led by the Washington Coalition for Consumer Choice and Innovation, which is advocating for a ballot measure that would extend direct-to-consumer sales rights to more EV companies. Under current state law, buyers are required to purchase vehicles through dealerships, which effectively bars direct sales by manufacturers like Rivian and Lucid Group, Inc. LCID, a luxury EV maker. Tesla has been the lone exception to this rule for more than 10 years. As a result, Rivian and Lucid operate showrooms in Washington but are prohibited from selling vehicles at those locations. The specific organizations and businesses behind the coalition have not been disclosed. The group has hired California-based Winner & Mandabach Campaigns, a prominent ballot-initiative consulting firm. It has worked on several Washington measures, including a successful campaign opposing Initiative 1631, which proposed a carbon emissions fee. The firm claims a 90% success rate in ballot campaigns. To qualify for the ballot, initiative sponsors must submit at least 308,911 valid voter signatures to the secretary of state by early July, though the office advises collecting closer to 390,000 signatures to account for invalid entries. As of Jan. 22, 2026, the coalition’s proposal had not appeared in the secretary of state’s filing records. Efforts to pass legislation allowing companies like Rivian and Lucid to sell directly to consumers stalled in the state House last year. At the time, a coalition of environmental and business groups argued that expanding direct sales would accelerat...
Image source: The Motley Fool. Thursday, January 29, 2026 at 10:00 a.m. ET Call participants Chief Executive Officer — Hal Lawton Chief Financial Officer — Kurt Barton Executive Vice President, Chief Merchandising Officer — Seth Estep Executive Vice President, Chief Technology, Digital Commerce and Strategy Officer — Rob Mills Executive Vice President, General Counsel and Corporate Secretary — Joh...
Image source: The Motley Fool. Thursday, January 29, 2026 at 10:00 a.m. ET Call participants Chief Executive Officer — Hal Lawton Chief Financial Officer — Kurt Barton Executive Vice President, Chief Merchandising Officer — Seth Estep Executive Vice President, Chief Technology, Digital Commerce and Strategy Officer — Rob Mills Executive Vice President, General Counsel and Corporate Secretary — John Ortiz Executive Vice President, Chief Supply Chain Officer — Colin Yankee Senior Vice President, Investor Relations and Public Relations — Mary Winn Pilkington Takeaways Net Sales -- $3.9 billion, increasing 3.3% year over year, with new store growth and modest average ticket growth as primary drivers. -- $3.9 billion, increasing 3.3% year over year, with new store growth and modest average ticket growth as primary drivers. Comparable Store Sales -- Up 0.3% due to modest growth in average ticket and resilience in essential categories; offset by declines in big ticket and emergency response categories. -- Up 0.3% due to modest growth in average ticket and resilience in essential categories; offset by declines in big ticket and emergency response categories. Diluted EPS -- $0.43 for the quarter, reflecting modest sales growth, elevated promotions, and continued strategic investments. -- $0.43 for the quarter, reflecting modest sales growth, elevated promotions, and continued strategic investments. Digital Sales Growth -- High single-digit percentage for the quarter and full year, with improved personalization and delivery capabilities cited as key factors. -- High single-digit percentage for the quarter and full year, with improved personalization and delivery capabilities cited as key factors. Regional Comps -- 11 of 15 regions posted positive comps, while the South Atlantic saw mid-single-digit declines due to storm activity laps. -- 11 of 15 regions posted positive comps, while the South Atlantic saw mid-single-digit declines due to storm activity laps. Customer Fundamen...
A cohort of music publishers led by Concord Music Group and Universal Music Group are suing Anthropic, saying the company illegally downloaded more than 20,000 copyrighted songs, including sheet music, song lyrics, and musical compositions. The publishers said in a statement on Wednesday that the damages could amount to more than $3 billion, which would be one of the largest non-class action copyr...
A cohort of music publishers led by Concord Music Group and Universal Music Group are suing Anthropic, saying the company illegally downloaded more than 20,000 copyrighted songs, including sheet music, song lyrics, and musical compositions. The publishers said in a statement on Wednesday that the damages could amount to more than $3 billion, which would be one of the largest non-class action copyright cases filed in U.S. history. This lawsuit was filed by the same legal team from the Bartz v. Anthropic case, in which a group of fiction and nonfiction authors similarly accused the AI company of using their copyrighted works to train products like Claude. In that case, Judge William Alsup ruled that it is legal for Anthropic to train its models on copyrighted content. However, he pointed out that it was not legal for Anthropic to acquire that content via piracy. The Bartz v. Anthropic case became a slap on the wrist worth $1.5 billion for Anthropic, with impacted writers receiving about $3,000 per work for roughly 500,000 copyrighted works. While $1.5 billion seems like a substantial sum, it’s not exactly back-breaking for a company valued at $183 billion. Originally, these music publishers had filed a lawsuit against Anthropic over its use of about 500 copyrighted works. But through the discovery process in the Bartz case, the publishers say they found that Anthropic had also illegally downloaded thousands more. The publishers tried to amend their original lawsuit to address the piracy issue, but the court denied that motion back in October, ruling they’d failed to investigate the piracy claims earlier. That move prompted the publishers to instead file this separate lawsuit, which also names Anthropic CEO Dario Amodei and co-founder Benjamin Mann as defendants. Techcrunch event TechCrunch Founder Summit 2026: Tickets Live On June 23 in Boston, more than 1,100 founders come together at TechCrunch Founder Summit 2026 for a full day focused on growth, execution, and rea...
Perseus Mining Limited press release ( PRU:CA ): FQ2 production totalled 88,888 ounces of gold at an All-In Site Costs of US$1,8001 per ounce Average cash margin of US$1,6371 per ounce of gold produced, delivering notional operating cashflow of US$145 million 1 Cash and bullion of US$755 million, plus liquid listed securities of US$229 million CMA Underground development progressed with first ore ...
Perseus Mining Limited press release ( PRU:CA ): FQ2 production totalled 88,888 ounces of gold at an All-In Site Costs of US$1,8001 per ounce Average cash margin of US$1,6371 per ounce of gold produced, delivering notional operating cashflow of US$145 million 1 Cash and bullion of US$755 million, plus liquid listed securities of US$229 million CMA Underground development progressed with first ore delivered in January 2026 Nyanzaga project development progressing to plan with first production planned for January 2027 Work progressed on life extension for the sites through resource conversion and drilling activities More on Perseus Mining Perseus Mining Limited (PMNXF) Q2 2026 Earnings Call Transcript Key deals this week: DigitalBridge, BHP, Goldman Sachs and more Perseus Mining makes bid for Predictive Discovery valued at ~A$2B Seeking Alpha’s Quant Rating on Perseus Mining Historical earnings data for Perseus Mining
Posts from this author will be added to your daily email digest and your homepage feed. This is Lowpass by Janko Roettgers, a newsletter on the ever-evolving intersection of tech and entertainment, syndicated just for The Verge subscribers once a week. If you’re in the market for a new TV, you’ll have plenty of different options these days, ranging from display technologies (OLED vs. QLED vs. micr...
Posts from this author will be added to your daily email digest and your homepage feed. This is Lowpass by Janko Roettgers, a newsletter on the ever-evolving intersection of tech and entertainment, syndicated just for The Verge subscribers once a week. If you’re in the market for a new TV, you’ll have plenty of different options these days, ranging from display technologies (OLED vs. QLED vs. micro RGB) to styles (shiny home theater displays vs. matte art TVs) to operating systems (Roku vs. Google TV vs. Tizen vs. Fire TV). However, you’ll find that all these different TVs still have something in common: Every TV comes with a remote that has a Netflix button, and most will feature the Netflix app prominently placed on the homescreen, usually in the first spot of the TV’s homescreen app rail. That’s no accident: Netflix has long forced TV makers and smart TV platform operators to follow strict guidelines if they want to ship their devices with its app. A lot of these rules are technical in nature, and meant to ensure that Netflix runs without hiccups on any device certified by the company. Others seem more designed to cement the company’s market position, and prevent Netflix content from drowning in a growing sea of streaming titles from other services. Device makers have little choice but to accept those terms. Netflix is responsible for 19 percent of all streaming in North America, and its app is the second-most-popular app on smart TVs after YouTube. That makes the Netflix app a must-have, as shipping a device without it would be commercial suicide. Now, some smart TV industry insiders are wondering what this all means for Netflix’s acquisition of Warner Bros. and its HBO Max service. Will Netflix extend its requirements to the HBO Max app and its content, perhaps through an HBO-branded remote control button? Or could regulatory pressure, and Netflix’s desire to get the deal done despite a competing bid from Paramount Global, force it to ease up on some of its pol...
BlackRock Inc. is facing a rare conundrum: its star manager may soon be poached to head the Federal Reserve, clouding the outlook for the $14 trillion exchange-traded fund industry’s fastest-growing active bond vehicle. BlackRock executive Rick Rieder has emerged as a finalist on President Donald Trump’s shortlist for Fed chair in a decision that’s expected within the next week . Rieder is current...
BlackRock Inc. is facing a rare conundrum: its star manager may soon be poached to head the Federal Reserve, clouding the outlook for the $14 trillion exchange-traded fund industry’s fastest-growing active bond vehicle. BlackRock executive Rick Rieder has emerged as a finalist on President Donald Trump’s shortlist for Fed chair in a decision that’s expected within the next week . Rieder is currently the favorite for the nomination on prediction-market platform Polymarket, with 38% odds. Those job prospects leave a question mark over his smash-hit iShares Flexible Income ETF (ticker BINC ), which has amassed more than $16 billion in assets in less than three years. Its rapid growth has vaulted BINC up the active bond ETF leaderboard in record time, a feat fueled “partly due to Rieder’s name,” according to Bloomberg Intelligence. While BlackRock — the world’s largest asset manager — has a deep bench of portfolio heads, Rieder is clearly the face of the fund, according to Todd Sohn , senior ETF analyst at Strategas. “This is ‘key man risk,’” Sohn said on Bloomberg Television’s ETF IQ . “If you’re out there touting this ETF managed by Rick, and it’s very successful, and then all of a sudden, you lose it — I don’t know, maybe people leave.” BINC is only a fraction of BlackRock’s total assets, which stood at $14 trillion at the end of 2025. The fund’s AUM is also small within Rieder’s personal lineup: As the firm’s chief investment officer of global fixed income, he is responsible for roughly $2.7 trillion in assets. But it’s BINC’s meteoric growth that sets it apart, with BlackRock founder and chief executive Larry Fink giving it a shoutout on the firm’s latest earnings call and noting that the ETF helped lead BlackRock’s active inflows last year. Solid returns have also helped fuel the influx. The ETF, which invests across fixed-income sectors and geographies, has a heavy weighting to securitized products such as agency and commercial mortgage-backed securities, as well...
da-kuk/E+ via Getty Images Absci Corporation ( ABSI ) uses artificial intelligence to develop drugs, has clinical readouts set for 2026, and already produced data from one of its drugs in 2025. In September, I rated ABSI a hold, noting the company's drug ABS-101 had plenty of competition , but stopped short of rating the name a sell since the company's plan was to out-license or sell that drug, no...
da-kuk/E+ via Getty Images Absci Corporation ( ABSI ) uses artificial intelligence to develop drugs, has clinical readouts set for 2026, and already produced data from one of its drugs in 2025. In September, I rated ABSI a hold, noting the company's drug ABS-101 had plenty of competition , but stopped short of rating the name a sell since the company's plan was to out-license or sell that drug, not develop it further on its own. ABSI has since produced data from its ABS-101 work and is approaching a readout from a trial of ABS-201, making a review of the company's position prudent. ABS-101: An Anti-TL1A Antibody ABSI's ABS-101 is an anti-TL1A antibody that has potential in inflammatory conditions, including ulcerative colitis and Crohn's disease. Unfortunately, there is competition from other anti-TL1A's that are further ahead, such as Roche Holdings AG's ( RHHBY ) afimkibart, Merck and Co's ( MRK ) tulisokibart, and Sanofi's ( SNY ) and Teva's ( TEVA ) duvakitug. There are multiple drugs in development targeting TL1A or its receptor, DR3. (Shattuck Labs (STTK) Corporate Overview, November 2025.) ABS-101 does have potential improvements over the agents that are further ahead (afimkibart, tulisokibart, and duvakitug), such as a longer half-life. At the same time, other next-generation agents might also have advantages over those three further-ahead agents, so ABS-101 isn't the only potential drug in the situation of being further behind but potentially better. For example, I have previously noted the intelligent development efforts of Spyre Therapeutics ( SYRE ) anti-TL1A, SPY002, which involves a trial testing different combinations of other agents, such as an anti-IL-23 antibody, with SPY002, to find an optimal combination for ulcerative colitis. With Q3'25 earnings , ABSI reported that its interim results from phase 1 development of ABS-101 show an extended half-life, and anti-drug antibodies do not seem to impact the pharmacokinetics of the drug. ABSI Corporate P...
Torsten Asmus/iStock via Getty Images Market dynamics seem to change really quickly these days. It was only a few weeks ago that it seemed inflation might be beaten, but now the market has changed its mind, as it has a right to, as the information has changed. CPI Inflation swaps are again pricing in higher inflation rates in the futures, with 1-, 2-, and 5-year rates surging over the past several...
Torsten Asmus/iStock via Getty Images Market dynamics seem to change really quickly these days. It was only a few weeks ago that it seemed inflation might be beaten, but now the market has changed its mind, as it has a right to, as the information has changed. CPI Inflation swaps are again pricing in higher inflation rates in the futures, with 1-, 2-, and 5-year rates surging over the past several trading sessions. While they are still well below their previous highs, the surge is notable and suggests that the market is taking the sudden rise in commodity prices seriously and its potential impacts. Oil may hold the key to how high and quickly inflation expectations rise and whether the impact translates into higher interest rates. Inflation Expectations Are Rising LSEG There is good reason to think that if the prices of metals such as copper, silver, and gold surge as they have, inflation is likely to be pushed into manufacturing and services prices again. Certainly, the relationship between inflation, as reflected in the ISM Manufacturing Prices Paid Index, and copper has been very strong. It seems to be pretty visible to the naked eye, without even having to do much work. TradingView The same is true when examining copper prices ( HG1:COM ) and comparing them with the producer price index. Again, there appears to be some timing and lag between the two, but they generally trend in the same direction for a period of time and peak and bottom around the same time. cpi One could imagine that if oil prices rise significantly and join the commodity boom, inflation expectations and fears could increase substantially, likely pushing them higher. Again, the relationship between oil ( CL1:COM ) and CPI swaps is fairly strong, and they have a long history together. LSEG Impact on Rates If the market is truly starting to get worried about inflation, then interest rates are bound to go higher as well. Over the last 4 years, interest rates have traded lockstep with oil prices, w...
Image source: The Motley Fool. Thursday, January 29, 2026 at 10 a.m. ET Call participants Chairman & Chief Executive Officer — Andrew K. Silvernail Chief Financial Officer — Lance T. Loeffler CEO, EMEA Packaging Business — Tim Nichols Takeaways Separation announcement -- The company plans to separate into two independent, publicly traded regional packaging businesses in North America and EMEA with...
Image source: The Motley Fool. Thursday, January 29, 2026 at 10 a.m. ET Call participants Chairman & Chief Executive Officer — Andrew K. Silvernail Chief Financial Officer — Lance T. Loeffler CEO, EMEA Packaging Business — Tim Nichols Takeaways Separation announcement -- The company plans to separate into two independent, publicly traded regional packaging businesses in North America and EMEA within twelve to fifteen months. -- The company plans to separate into two independent, publicly traded regional packaging businesses in North America and EMEA within twelve to fifteen months. North America 2025 financials -- Pro forma net sales exceeded $15 billion with approximately $2.3 billion of adjusted EBITDA attributed to North America operations for the full year. -- Pro forma net sales exceeded $15 billion with approximately $2.3 billion of adjusted EBITDA attributed to North America operations for the full year. EMEA 2025 financials -- The EMEA packaging business reported pro forma net sales of approximately $8.5 billion and adjusted EBITDA of $800 million for the full year. -- The EMEA packaging business reported pro forma net sales of approximately $8.5 billion and adjusted EBITDA of $800 million for the full year. Cost reduction actions -- $710 million of cost out actions were executed through 2025, with further synergies expected in 2026 and 2027. -- $710 million of cost out actions were executed through 2025, with further synergies expected in 2026 and 2027. North America adjusted EBITDA margin expansion -- Achieved 340 basis points improvement and 37% adjusted EBITDA growth year over year in 2025, with expectations for continued growth driven by $100 million in commercial benefits and $500 million in cost actions in 2026. -- Achieved 340 basis points improvement and 37% adjusted EBITDA growth year over year in 2025, with expectations for continued growth driven by $100 million in commercial benefits and $500 million in cost actions in 2026. EMEA cost optimizati...