Tyson Foods, Amazon and other big companies are facing pressure from some shareholders to provide reports about how they’re being affected by the Trump administration’s immigration policies.
Tyson Foods, Amazon and other big companies are facing pressure from some shareholders to provide reports about how they’re being affected by the Trump administration’s immigration policies.
HHS Responds To Criticism From Vaccine Companies Authored by Zachary Stieber via The Epoch Times, The Department of Health and Human Services (HHS) has responded after executives of top vaccine companies took aim at the Trump administration in the wake of a series of actions on vaccines. “Vaccine recommendations are based on the best available gold-standard scientific evidence and public health co...
HHS Responds To Criticism From Vaccine Companies Authored by Zachary Stieber via The Epoch Times, The Department of Health and Human Services (HHS) has responded after executives of top vaccine companies took aim at the Trump administration in the wake of a series of actions on vaccines. “Vaccine recommendations are based on the best available gold-standard scientific evidence and public health considerations, not corporate interests. Under this administration, HHS is not beholden to the pharmaceutical industry,” an HHS spokesperson told The Epoch Times in an email on Jan. 28. “Decisions are made through transparent processes with the sole aim of protecting the health of the American people. Protecting public health and restoring trust will continue to drive HHS’ vaccine policy.” Under President Donald Trump and Health Secretary Robert F. Kennedy Jr., the Trump administration has downgraded vaccine recommendations for shots against diseases such as COVID-19 and influenza. Officials have also canceled contracts for vaccine research, including for projects involving messenger ribonucleic acid ( mRNA ) technology. The Pfizer-BioNTech and Moderna COVID-19 vaccines utilize mRNA. Albert Bourla, Pfizer’s CEO, was among vaccine company executives recently criticising the Trump administration. He told The Wall Street Journal during the World Economic Forum in Switzerland in January that Kennedy’s position on vaccines is “anti-science” and that a new secretary of health would be needed for discussions on vaccines to move forward. Bourla also said that “we always knew that who is in the government is extremely important for our business because it is highly regulated.” In the United States, the Food and Drug Administration, part of HHS, decides whether to clear vaccines. The Centers for Disease Control and Prevention, another HHS division, offers recommendations for cleared shots. At the same event, Moderna CEO Stephane Bancel told Bloomberg TV that Moderna has no plans to inv...
(RTTNews) - Treasuries moved to the upside during trading on Thursday, regaining ground following the pullback seen over the two previous sessions. After seeing some volatility in morning trading, bond prices spent the afternoon in positive territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.4 basis points to 4.227 percent. Treasuries may ha...
(RTTNews) - Treasuries moved to the upside during trading on Thursday, regaining ground following the pullback seen over the two previous sessions. After seeing some volatility in morning trading, bond prices spent the afternoon in positive territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.4 basis points to 4.227 percent. Treasuries may have benefitted from their appeal as a safe haven amid escalation tensions between the U.S. and Iran. President Donald Trump has issued an ultimatum to Iran to come to negotiating table over its nuclear program or face attacks worse than in June 2025. Iran's Foreign Minister Abbas Araghchi responded by saying that their forces have their "finger on the trigger" to strike back against the U.S. and added that Iran was ready for a "fair and equitable" deal but not for coercion. Traders also kept an eye on developments in Washington amid the possibility of a partial government shutdown due to a dispute among lawmakers over funding for the Department of Homeland Security. In U.S. economic news, the Labor Department released a report showing first-time claims for U.S. unemployment benefits slipped from an upwardly revised level in the week ended January 24th. The report said initial jobless claims edged down to 209,000, a decrease of 1,000 from the previous week's revised level of 210,000. Economists had expected jobless claims to rise to 205,000 from the 200,000 originally reported for the previous month. A separate report released by the Commerce Department on Thursday showed the U.S. trade deficit surged by much more than expected in the month of November. Looking ahead, trading on Friday may be impacted by reaction to the Labor Department's report on producer prices in the month of December. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Key Points Increased holdings by 210,918 shares; estimated trade size $5.66 million (quarterly average price basis). Quarter-end position value rose by $7.26 million, reflecting both share purchases and price appreciation. Transaction represented a 0.27% change in 13F reportable AUM. Post-trade stake: 1,576,295 shares, valued at $41.79 million Position now accounts for 1.98% of 13F reportable AUM,...
Key Points Increased holdings by 210,918 shares; estimated trade size $5.66 million (quarterly average price basis). Quarter-end position value rose by $7.26 million, reflecting both share purchases and price appreciation. Transaction represented a 0.27% change in 13F reportable AUM. Post-trade stake: 1,576,295 shares, valued at $41.79 million Position now accounts for 1.98% of 13F reportable AUM, which places it outside the fund's top five holdings. These 10 stocks could mint the next wave of millionaires › Blackstone Secured Lending Fund (NYSE:BXSL) saw Sound Income Strategies, LLC report a buy of 210,918 shares in a Jan. 21, 2026, SEC filing, with an estimated transaction value of $5.66 million based on quarterly average pricing. What happened According to a Jan. 21, 2026, SEC filing, Sound Income Strategies, LLC increased its stake in Blackstone Secured Lending Fund by 210,918 shares during the quarter. The estimated transaction value was $5.66 million, calculated using the average closing price for the quarter. The fund’s quarter-end BXSL position value rose by $7.26 million, reflecting both the share additions and price movement. What else to know Buy activity lifted the BXSL stake to 1.98% of 13F assets under management. Top five holdings after the filing: Sixth Street Specialty Lending : $56 million (2.65% of AUM) Ares Capital Corporation : $54.69 million (2.6% of AUM) Hercules Capital : $51 million (2.41% of AUM) Golub Capital BDC : $49.79 million (2.4% of AUM) Blue Owl Capital : $48 million (2.3% of AUM) As of Jan. 20, 2026, BXSL shares were priced at $26.08, down 11% over the past year, underperforming the S&P 500. Company overview Metric Value Revenue (TTM) $1.41 billion Net Income (TTM) $599.78 million Dividend Yield 11.81% Price (as of market close 2026-01-20) $26.08 Company snapshot Originates and invests in first lien senior secured loans, unitranche loans, and other debt and equity securities, primarily targeting private U.S. small and middle market...
Investors underestimate the hazards when chasing fat yields in private credit, according to Pacific Investment Management Co. “There’s a lot of additional credit risk that people are often taking in some of these private situations that you kind of turn a blind eye to,” said Christian Stracke , the $2.3 trillion asset manager’s president, on the latest Bloomberg Intelligence Credit Edge podcast . ...
Investors underestimate the hazards when chasing fat yields in private credit, according to Pacific Investment Management Co. “There’s a lot of additional credit risk that people are often taking in some of these private situations that you kind of turn a blind eye to,” said Christian Stracke , the $2.3 trillion asset manager’s president, on the latest Bloomberg Intelligence Credit Edge podcast . Private debt traditionally focuses on smaller companies, which tend to have less financial flexibility and more limited disclosure than those accessing public markets. Its higher sector concentration and lack of price transparency are cause for concern, Stracke said. Loans to weaker companies signed earlier this decade when interest rates were near zero are becoming stressed as the debt comes due. Loans price at a spread over benchmark US rates, which jumped when monetary policy tightened to combat inflation, significantly increasing refinancing costs. “It is not a good sign that you have all of these problems emerging in terms of loan performance at a time when the economy is about as good as it gets,” said Stracke, who’s based in London. “There is a fairly large overhang of problem loans that were made in years earlier this decade that will take years to burn through.” Read more: Apollo Took Loss on Zeroed Out Asset-Backed Loan Deemed Safe Pimco has been slow to embrace private credit, questioning the benefit of direct loans over public corporate debt. But the asset manager made headlines after striking a deal to co-lead a $29 billion financing for Meta Platforms Inc. ’s plans to build a Louisiana data center — one of last year’s biggest private loans. Pimco is bullish on asset-based finance, where direct loans are backed by collateral like consumer and student loans, aviation finance, equipment leasing and mortgages. It recently raised a $7 billion fund for the strategy. Read more: Pimco Gathers $7 Billion for New Asset-Based Finance Strategy “Growth in the private space...
安全帶｜懷疑遭蓄意破壞 城巴已向警方報案 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】城巴發現有安全帶鎖扣懷疑遭蓄意破壞，已向警方報案。 位於柴灣的城巴車廠，據了解警員早上到場調查。事發於星期四，有乘客在一架城...
安全帶｜懷疑遭蓄意破壞 城巴已向警方報案 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】城巴發現有安全帶鎖扣懷疑遭蓄意破壞，已向警方報案。 位於柴灣的城巴車廠，據了解警員早上到場調查。事發於星期四，有乘客在一架城巴上無法解開安全帶，被困約45分鐘，警方和消防到場救援。城巴其後檢查涉事安全帶，發現鎖扣內部有一張錫紙阻礙運作，懷疑有人蓄意破壞。警方早上接獲城巴報案，列作求警協助，城巴指高度關注事件，正配合警方調查。
The Bitwise Crypto Industry Innovators ETF is an interesting, potentially rewarding way to play the cryptocurrency space, but investors need to know what they're owning with this fund. Broadly speaking, issuers of exchange-traded funds (ETFs) are willing to try new things and address perceived demand for products that extend beyond the plain-vanilla, pure-beta realm. Think about the explosion of E...
The Bitwise Crypto Industry Innovators ETF is an interesting, potentially rewarding way to play the cryptocurrency space, but investors need to know what they're owning with this fund. Broadly speaking, issuers of exchange-traded funds (ETFs) are willing to try new things and address perceived demand for products that extend beyond the plain-vanilla, pure-beta realm. Think about the explosion of ETFs addressing thematic investing. There's demand for these funds, as evidenced by their combined $779 billion in assets under management (AUM) globally as of the end of the third quarter of 2025. One of the success stories among thematic ETFs is the Bitwise Crypto Industry Innovators ETF (BITQ 7.18%). This ETF has nearly $431 million in AUM and turns five years old in May, confirming it attracted investor interest and has staying power. The Bitwise fund could also generate impressive returns this year and beyond, but prospective investors need to know the following three things before getting involved. This isn't a spot Bitcoin ETF The largest cryptocurrency ETFs on the market today are spot funds designed to track the prices of Bitcoin and Ethereum, among other digital currencies. That's not what this Bitwise ETF does. Instead, it's an index fund that tracks the Bitwise Crypto Innovators 30 Index, a collection of stocks. Investors buying this ETF are purchasing a basket of crypto-correlated equities, not direct ownership of Bitcoin or similar assets. Indeed, the ETF's correlations to Bitcoin and Ethereum stood at 0.7 and 0.63, respectively, at the end of last year, confirming it provides investors with ample leverage to the upside (and downside) fortunes of the largest digital currencies. It's sort of a "next-gen" financial services ETF One interesting aspect of the Bitwise ETF is that it makes investing in the financial services sector more engaging. Think about it this way: An investor buying an old-guard ETF in that sector is getting a fund that is heavily allocated to...
Key Points New California AI regulations went into effect on Jan. 1. "Frontier" AI companies will now need to provide greater transparency. These 10 stocks could mint the next wave of millionaires › Artificial intelligence (AI) stocks have been big winners in recent years, but regulations have struggled to keep up with the rapidly emerging technology. However, a new batch of AI legislation went in...
Key Points New California AI regulations went into effect on Jan. 1. "Frontier" AI companies will now need to provide greater transparency. These 10 stocks could mint the next wave of millionaires › Artificial intelligence (AI) stocks have been big winners in recent years, but regulations have struggled to keep up with the rapidly emerging technology. However, a new batch of AI legislation went into effect on Jan. 1. And that means that AI stocks as well as nonpublic AI companies like OpenAI can no longer ignore these regulations in 2026. Here's what investors need to know. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » California leads the pack While Texas has enacted the Texas Responsible Artificial Intelligence Governance Act (TRAIGA), which prohibits certain intentionally harmful AI-based practices, the biggest regulatory changes in 2026 have come from California, where a host of new AI rules are now in force. Not only is California home to about 12% of the U.S. population, making it an important source of potential customers for any AI business, but the state is also home to 32 of the 50 top global AI companies, including OpenAI, Anthropic, and Midjourney, as well as AI-focused tech giants like Alphabet's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google and Nvidia (NASDAQ: NVDA). Now that California is enforcing these rules, AI companies will need to pay attention. Transparency and safety California's Transparency in Frontier AI Act requires "frontier" AI developers to maintain a continuous process for identifying and mitigating catastrophic risks, and to provide detailed information to the public regarding their systems' capabilities, purposes, and safety. It also creates penalties for noncompliance. While some AI companies have been providing this information voluntarily, it's now a requirement. Separately, California Assembly Bill 316 prohibits any civil defendant who "developed, mo...
Bitcoin remains stubbornly on the back foot, as surging precious metals prices continue to steal the limelight from cryptocurrencies. The world’s largest crypto, Bitcoin fell by 5.8% to $83,852 Thursday, as and also slipped 7.6% and 7.4%, respectively. In contrast, cryptocurrencies appear to be lacking the necessary momentum to join the rally in precious metals.
Bitcoin remains stubbornly on the back foot, as surging precious metals prices continue to steal the limelight from cryptocurrencies. The world’s largest crypto, Bitcoin fell by 5.8% to $83,852 Thursday, as and also slipped 7.6% and 7.4%, respectively. In contrast, cryptocurrencies appear to be lacking the necessary momentum to join the rally in precious metals.
Earnings Call Insights: Southwest Airlines (LUV) Q4 2025 Management View President and CEO Robert Jordan highlighted a year of “meaningful transformation and accelerated execution,” emphasizing that Southwest achieved a full-year EBIT of $574 million, above prior guidance, and record operating revenues of $7.4 billion for the quarter and $28 billion for the year. Jordan detailed, “We changed our p...
Earnings Call Insights: Southwest Airlines (LUV) Q4 2025 Management View President and CEO Robert Jordan highlighted a year of “meaningful transformation and accelerated execution,” emphasizing that Southwest achieved a full-year EBIT of $574 million, above prior guidance, and record operating revenues of $7.4 billion for the quarter and $28 billion for the year. Jordan detailed, “We changed our product offering, including the implementation of bag fees, addition of a basic economy fare product and flight credit expiration, optimized our Rapid Rewards program, including variable earn and burn rates.” He also referenced new partnerships, technology deployments, and cost reductions, including $2.6 billion in share buybacks and the retrofitting of over 800 aircraft for assigned and extra legroom seating. Jordan stated that 2026 is expected to yield “earnings that are dramatically higher than 2025,” guiding for full-year adjusted EPS of at least $4, compared to 2025 adjusted EPS of $0.93. He clarified that this represents the “lower end of our internal forecast” due to limited data on close-in booking behavior after recent product launches. Chief Operating Officer Andrew Watterson detailed a 5.8% year-over-year growth in Q4 capacity and highlighted efficiency improvements, including redeye flying and reduced turn times. Watterson said, “Q1 capacity is expected to grow between 1% and 2% year-over-year, even as we operate with approximately 7 fewer aircraft, a reflection of continued efficiency gains.” He noted strong customer response to assigned and extra legroom seating, emphasizing a fundamental shift in Southwest’s product and customer value proposition. Executive VP & CFO Tom Doxey reported, “We delivered a solid quarter with an EBIT of $386 million.” Doxey explained that CASM-X was up just 0.8% year-over-year despite less capacity, and said, “For full year 2026, we are providing an adjusted EPS guide of at least $4… For the first quarter of 2026, we are guiding an ...
Earnings Call Insights: Dover Corporation (DOV) Q4 2025 Management View Richard Tobin, President, CEO & Chairman, opened the call stating, "Our fourth quarter results reflect broad-based top line strength across the portfolio with organic growth up to 5% in the quarter, the highest level of the year." He highlighted strong bookings rates, up 10% in the quarter and 6% for the full year, and noted, ...
Earnings Call Insights: Dover Corporation (DOV) Q4 2025 Management View Richard Tobin, President, CEO & Chairman, opened the call stating, "Our fourth quarter results reflect broad-based top line strength across the portfolio with organic growth up to 5% in the quarter, the highest level of the year." He highlighted strong bookings rates, up 10% in the quarter and 6% for the full year, and noted, "Segment EBITDA margins improved 60 basis points in the quarter to 24.8% on volume leverage and ongoing productivity initiatives. All in, adjusted EPS at $9.61 was up 14% in the quarter, beating our raised third quarter guide and 16% for the full year." Tobin also referenced a $500 million accelerated share repurchase initiated in November and emphasized, "We are guiding for adjusted EPS of $10.45 to $10.65 a share in 2026, which represents double-digit growth at the midpoint." Christopher Woenker, Senior VP & CFO, stated, "Free cash flow in the fourth quarter was $487 million or 23% of revenue. The fourth quarter was our highest cash flow quarter of the year, in line with historical trends. We are encouraged by Dover's full year free cash flow result in 2025, which came in at 14% of revenue, an increase of nearly $200 million over the prior year." Outlook Management projected 2026 adjusted EPS guidance of $10.45 to $10.65, describing it as "double-digit growth at the midpoint, consistent with our long-term trajectory." Tobin indicated that demand trends are "solid and broad-based across the portfolio and are supported by our order book with no individual end market presenting a material headwind based on current visibility." Tobin explained that Clean Energy and Fueling should be among the leaders in margin accretion in 2026, while Climate and Sustainability Technology is expected to "continue at a double-digit growth clip." Financial Results Tobin reported, "Our strong bookings rates, which were up 10% in the quarter and 6% for the full year, continue to support underlyin...
Earnings Call Insights: Trane Technologies (TT) Q4 2025 Management View CEO David Regnery described 2025 as a strong year for Trane Technologies, citing execution that enabled the company to "exceed adjusted EPS guidance despite softness in residential and transport refrigeration markets." Regnery emphasized "exceptional enterprise organic bookings up 22%, driving record backlog of $7.8 billion," ...
Earnings Call Insights: Trane Technologies (TT) Q4 2025 Management View CEO David Regnery described 2025 as a strong year for Trane Technologies, citing execution that enabled the company to "exceed adjusted EPS guidance despite softness in residential and transport refrigeration markets." Regnery emphasized "exceptional enterprise organic bookings up 22%, driving record backlog of $7.8 billion," with organic revenue growth of 4% led by Americas Commercial HVAC and the global services business. Regnery stated the company is "well positioned for growth, especially in areas where disciplined execution to our business operating system is a key driver of success," highlighting a robust pipeline and significant backlog in Americas and EMEA commercial HVAC. Regnery announced the acquisition of Stellar Energy, a "leading provider of turnkey data center cooling solutions," with the transaction expected to close in Q1 2026 and "modest EPS accretion in 2026, even after year 1 acquisition and integration costs." Executive VP & CFO Christopher Kuehn said, "Q4 organic revenue grew 4% and 7%, excluding residential, consistent with the dynamics we've already discussed. Margins were impacted by proactive measures taken to normalize residential inventory which reduced factory production days by 1/3 and resulted in roughly 60% deleverage in that business." Outlook Kuehn provided initial 2026 guidance, stating, "We are initiating 2026 guidance with 6% to 7% organic revenue growth and adjusted EPS of $14.65 to $14.85, up 12% to 14%. We expect about 50 basis points of growth from FX and roughly 200 basis points from M&A, either closed or committed for early 2026. All in, reported revenue growth is expected to be 8.5% to 9.5%." For Q1 2026, Kuehn expects "flattish organic revenue growth, reflecting continued strength in Commercial HVAC, offset by tough comps in residential, given the high teens growth we saw in Q1 2025 and market-driven declines in Transport. We expect Q1 adjusted EPS of...
In this article YSS Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 8:05 08:05 York Space Systems founder Dirk Wallinger on IPO day News Videos York Space Systems began trading as a public company on Thursday, with founder and CEO Dirk Wallinger touting the company's potential to be a key contributor to President Trump 's ' Golden Dome ' project. The Denver-based space company open...
In this article YSS Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 8:05 08:05 York Space Systems founder Dirk Wallinger on IPO day News Videos York Space Systems began trading as a public company on Thursday, with founder and CEO Dirk Wallinger touting the company's potential to be a key contributor to President Trump 's ' Golden Dome ' project. The Denver-based space company opened on the New York Stock Exchange at $38, up 11.7% from its $34 offering price. It was valued at $4.75 billion. "Golden Dome is essentially making disparate systems that weren't intended to talk to one another, talk to one another, which is what we do," Wallinger told CNBC's Morgan Brennan . "York's already delivering on that, so we're looking for the opportunity to deliver on the Golden Dome for our country." York has already built low-earth orbit satellites for the U.S. Space Development Agency, launching 21 craft as part of a September launch. Space technology has steadily been gaining momentum in 2025 and looks set for a big 2026. The sector saw several IPOs last year, including Firefly Aerospace , Voyager Technologies and Karman Holdings . Read more CNBC tech news Meta shares jump on stronger-than-expected revenue forecast Tesla tops estimates for quarter, but wraps up first annual revenue drop on record IBM stock jumps on earnings beat ServiceNow posts better-than-expected fourth-quarter results The industry has also seen a boost from Trump's renewed interest in upgrading military technology and bringing astronauts back to the moon after more than half a century. SpaceX's expected IPO this year is poised to be the largest ever. Wallinger said SpaceX going public will be great for everyone in the sector. "I think there's a lot of excitement in the market for defense tech and space," Wallinger said. York Space Systems has done 74 missions to space since its founding in 2012. The company currently works with the U.S. Department of Defense, and entered a contract with the...
上環兩匪當街搶劫約5,800萬日圓 登接應私家車逃去 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】上環發生街頭搶劫，兩名男子遭劫走約5,800萬日圓，匪徒跳上接應私家車逃去。 警員帶走事主返警署調查。現場消息指...
上環兩匪當街搶劫約5,800萬日圓 登接應私家車逃去 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】上環發生街頭搶劫，兩名男子遭劫走約5,800萬日圓，匪徒跳上接應私家車逃去。 警員帶走事主返警署調查。現場消息指，上午九時許，兩名日本籍事主分別用背包及拖篋載住約九千萬日圓乘搭的士到德輔道中一間找換店準備兌換。下車期間，遭兩名匪徒攔途截劫，搶走其中載住約5,800萬日圓的背包，之後登上一輛接應的白色私家車，往西區海底隧道方向逃去。警方接報後調動多輛警車，在九龍多區高速公路戒備，截查可疑車輛，暫時未有發現。
Sea Limited's business has been firing on all cylinders, and there are no signs this will change. In late 2024, I said in a short video that Sea Limited (SE 3.90%) was the best-performing stock in my portfolio that year, and it wasn't even close. In fact, Sea shares had nearly tripled over the course of the year, fueled by strong revenue growth and a rapid return to profitability. Although I didn'...
Sea Limited's business has been firing on all cylinders, and there are no signs this will change. In late 2024, I said in a short video that Sea Limited (SE 3.90%) was the best-performing stock in my portfolio that year, and it wasn't even close. In fact, Sea shares had nearly tripled over the course of the year, fueled by strong revenue growth and a rapid return to profitability. Although I didn't think the stock was as much of a bargain as it once was, I said it still looked attractively valued relative to its growth. Sea didn't replicate its stellar 2024 performance, but it did gain another 20% in 2025 -- beating the S&P 500's total return by about 2.5 percentage points, even after a late-year pullback. But I'm going to predict that Sea will have its third market-beating year in a row in 2026, and here's why. Recent results are impressive Although we don't have full-year 2025 results just yet, Sea's latest numbers show why the stock continues to beat the market. In the third quarter, the company's business posted excellent growth in all three of its main segments. Expand NYSE : SE Sea Limited Today's Change ( -3.90 %) $ -4.94 Current Price $ 121.61 Key Data Points Market Cap $69B Day's Range $ 120.72 - $ 128.40 52wk Range $ 99.50 - $ 199.30 Volume 225K Avg Vol 4.9M Gross Margin 44.92 % On the e-commerce side, revenue grew by 35% year-over-year. Monee's (digital finance) outstanding loan balances grew by nearly 70%. And in the digital entertainment (gaming) business -- which was being regarded as Sea's "legacy" business not long ago -- bookings were up by 51%. Overall, Sea's revenue increased by 40% year-over-year, while adjusted EBITDA grew by a stellar 68%. Still a massive growth opportunity Beyond the recent numbers, there is plenty of positive momentum that should help fuel growth in 2026. For example, ad revenue in the Shopee business grew by more than 70% and is a high-margin driver of growth. Another example is that the Monee platform is seeing particularly...