Getty Images Introduction PulteGroup ( PHM ) has transformed from a grow-at-all-costs homebuilder into a disciplined, returns-focused operator that consistently delivers above-average returns, even as the industry grapples with a soft market that’s persisted through 2025 and is likely to continue into 2026. In my view, the company remains well-positioned thanks to its balanced customer mix, low hi...
Getty Images Introduction PulteGroup ( PHM ) has transformed from a grow-at-all-costs homebuilder into a disciplined, returns-focused operator that consistently delivers above-average returns, even as the industry grapples with a soft market that’s persisted through 2025 and is likely to continue into 2026. In my view, the company remains well-positioned thanks to its balanced customer mix, low historical leverage, generous shareholder returns, and strategic shift back toward a build-to-order model with more optioned lots, all of which should support profitability over time despite near-term pressures. The active-adult segment continues to outperform and should meaningfully lift both closings and margins in 2026, offsetting weaker trends among entry-level buyers (now ~40% of closings, up from 31% in 2020). While incentives and rising lot costs keep gross margins under pressure, I’m fairly optimistic that lower interest rates, moderating incentives, and potential federal policy support could stabilize or improve conditions. In this article, I’ll discuss the company’s most recent quarter for Q4’25 and explain why I think it’s worth staying long on the stock. Recent Results It’s been a tough couple of years for homebuilders. As demand got pulled forward during the pandemic, the last few years have been weak, and that trend persisted throughout 2025. That said, for Q4 , expectations were too low, and PulteGroup surpassed analysts estimates with a beat on both the top and bottom lines. Seeking Alpha During the quarter, revenues came in at $4.61 billion , down 6.3%. Most of this was driven by a 5% drop in home sale revenues due to a 3% drop in volume and a 1% decrease in average sales price to $573,000 . With 7,821 closings, demand has become softer than Q4’24 closings of 8,103. As shown below, the number of closings in Q4 for the last 4 years has been on a modest decline. Investor Presentation Company Filings When looking at the income statement above, margins in Q4 were...
Image source: The Motley Fool. Wednesday, February 4, 2026 at 8:30 a.m. ET CALL PARTICIPANTS President and Chief Executive Officer — Peter Arduini Chief Financial Officer — Jay Saccaro TAKEAWAYS Total Revenue -- $5.7 billion, up 4.8% organically. -- $5.7 billion, up 4.8% organically. Product Revenue -- Increased 7.9% on a reported basis. -- Increased 7.9% on a reported basis. Service Revenue -- In...
Image source: The Motley Fool. Wednesday, February 4, 2026 at 8:30 a.m. ET CALL PARTICIPANTS President and Chief Executive Officer — Peter Arduini Chief Financial Officer — Jay Saccaro TAKEAWAYS Total Revenue -- $5.7 billion, up 4.8% organically. -- $5.7 billion, up 4.8% organically. Product Revenue -- Increased 7.9% on a reported basis. -- Increased 7.9% on a reported basis. Service Revenue -- Increased 5.5% on a reported basis. -- Increased 5.5% on a reported basis. Orders Growth -- 2% in the quarter following 5.6% in the prior-year period. -- 2% in the quarter following 5.6% in the prior-year period. Backlog -- Record $21.8 billion, up $2 billion year over year, and $600 million sequentially. -- Record $21.8 billion, up $2 billion year over year, and $600 million sequentially. Book-to-Bill Ratio -- 1.06 times for the quarter; 1.07 times trailing twelve months. -- 1.06 times for the quarter; 1.07 times trailing twelve months. Adjusted EBIT Margin -- 16.7%, down 200 basis points, driven by ~$100 million in tariff expense and unfavorable mix. -- 16.7%, down 200 basis points, driven by ~$100 million in tariff expense and unfavorable mix. Adjusted EPS -- $1.44, down 0.7%, including ~$0.17 tariff impact. Excluding tariffs, adjusted EPS grew 11%. -- $1.44, down 0.7%, including ~$0.17 tariff impact. Excluding tariffs, adjusted EPS grew 11%. Free Cash Flow -- $916 million, up $105 million, including ~$90 million in tariff impact. -- $916 million, up $105 million, including ~$90 million in tariff impact. Full-Year Organic Revenue Growth -- 3.5% for $20.6 billion total revenue. -- 3.5% for $20.6 billion total revenue. Full-Year Adjusted EBIT Margin -- 15.3%, down 100 basis points; would be up 20 basis points without ~$245 million tariff impact. -- 15.3%, down 100 basis points; would be up 20 basis points without ~$245 million tariff impact. Full-Year Adjusted EPS -- $4.59, up 2.2%; would increase 12% excluding ~$0.43 in tariff impact. -- $4.59, up 2.2%; would increase 12% e...
Mohammed Haneefa Nizamudeen Oncolytics Biotech ( ONCY ) is up ~15% in premarket trading Wednesday after announcing that the US FDA has granted Fast Track designation to pelareorep for second-line metastatic colorectal cancer. The status is specifically for KRAS-mutant MSS colorectal cancer. Pelareorep is intended for use in combination with Avastin ( bevacizumab), leucovorin, fluorouracil, irinote...
Mohammed Haneefa Nizamudeen Oncolytics Biotech ( ONCY ) is up ~15% in premarket trading Wednesday after announcing that the US FDA has granted Fast Track designation to pelareorep for second-line metastatic colorectal cancer. The status is specifically for KRAS-mutant MSS colorectal cancer. Pelareorep is intended for use in combination with Avastin ( bevacizumab), leucovorin, fluorouracil, irinotecan. The designation was supported by data that found a 33% objective response rate for those on pelareorep-based therapy compared to ~10% ORR with standard-of-care. Pelareorep combination treatment was associated with a median progression-free survival of 16.6 months, compared to 5.7 months with SOC, and median overall survival of 27 months, compared to 11.2 months with SOC. Oncolytics said it plans to soon begin a controlled trial in second-line KRAS-mutant MSS colorectal cancer comparing pelareorep and standard-of-care to standard-of-care alone. More on Oncolytics Biotech Oncolytics Biotech Inc. (ONCY) Shareholder/Analyst Call Prepared Remarks Transcript Oncolytics rises on additional data for pelareorep in colorectal cancer Oncolytics, FDA agree on phase 3 trial design for Pelareorep in pancreatic cancer Seeking Alpha’s Quant Rating on Oncolytics Biotech Historical earnings data for Oncolytics Biotech
Image source: The Motley Fool. Wednesday, Feb. 4, 2026 at 8 a.m. ET Call participants Chairman and Chief Executive Officer — John Weinberg Chief Financial Officer — Timothy LaLonde Head of Investor Relations — Katy Haber Takeaways Adjusted Net Revenue -- $3.9 billion for the full year, up 29% and a new record for the firm. -- $3.9 billion for the full year, up 29% and a new record for the firm. Q4...
Image source: The Motley Fool. Wednesday, Feb. 4, 2026 at 8 a.m. ET Call participants Chairman and Chief Executive Officer — John Weinberg Chief Financial Officer — Timothy LaLonde Head of Investor Relations — Katy Haber Takeaways Adjusted Net Revenue -- $3.9 billion for the full year, up 29% and a new record for the firm. -- $3.9 billion for the full year, up 29% and a new record for the firm. Q4 Adjusted Net Revenue -- Nearly $1.3 billion, the highest quarterly figure in Evercore's history. -- Nearly $1.3 billion, the highest quarterly figure in Evercore's history. Adjusted Operating Income -- $839 million for the year, a 50% year-over-year increase. -- $839 million for the year, a 50% year-over-year increase. Adjusted Earnings Per Share -- $14.56 for the year, up 55%. -- $14.56 for the year, up 55%. Adjusted Operating Margin -- 21.6% for the full year, up 300 basis points. -- 21.6% for the full year, up 300 basis points. Adjusted Advisory Fees -- $3.3 billion for the year, up 34%; Q4 advisory fees exceeded $1.1 billion, both setting new records. -- $3.3 billion for the year, up 34%; Q4 advisory fees exceeded $1.1 billion, both setting new records. Adjusted Underwriting Revenue -- $180 million for the year, up 14%. -- $180 million for the year, up 14%. Q4 Adjusted Underwriting Fees -- $49 million, up 87% from the prior year period. -- $49 million, up 87% from the prior year period. Commissions and Related Revenue -- $243 million for the year, up 13%. -- $243 million for the year, up 13%. Adjusted Asset Management and Administration Fees -- $91 million for the year, up 8%. -- $91 million for the year, up 8%. Record Business Contribution -- Approximately 45% of firm-wide revenues came from non-M&A businesses during both Q4 and the full year. -- Approximately 45% of firm-wide revenues came from non-M&A businesses during both Q4 and the full year. Adjusted Compensation Ratio -- 64.2% for the year, down 150 basis points, reflecting expense leverage and talent investmen...
Putin 'Kept His Word' On Ceasefire, Trump Says, As Large Attacks On Kiev Resume President Trump has praised his Russian counterpart for keeping his word on the brief winter freeze ceasefire. Last week Trump had picked up the phone and urged President Putin to refrain from attacking Kiev and other major cities. Trump said of the surprise pause that Putin had agreed to halt strikes for one week . Tr...
Putin 'Kept His Word' On Ceasefire, Trump Says, As Large Attacks On Kiev Resume President Trump has praised his Russian counterpart for keeping his word on the brief winter freeze ceasefire. Last week Trump had picked up the phone and urged President Putin to refrain from attacking Kiev and other major cities. Trump said of the surprise pause that Putin had agreed to halt strikes for one week . Trump has newly told reporters that the agreement expired on Sunday, and that Russia kept its word. "It was Sunday to Sunday, and it opened up and he hit them hard last night," Trump explained at the White House on Tuesday . "He kept his word on that … we’ll take anything, because it’s really, really cold over there." Russian attack in the Ukrainian capital on Feb. 3, 2026. via Associated Press But it was only last Thursday Jan.29 that first Trump unveiled the contents of the prior Putin call. It seems the pause lasted a little short of a full week, but maybe Trump is only counting business days? It is possible the phone call in question was held significantly before the announcement, but it remains there has not been a full week that Kiev hasn't seen bombs or drones in the sky. What Trump said at the time was: " Because of the extreme cold…I personally asked President Putin not to fire on Kiev and the cities and towns for a week." He went on to say Putin " agreed to do that , " adding that " we’re very happy" with the outcome. On Wednesday, American, Ukrainian and Russian representatives are once again gathered the United Arab Emirates for the next round of trilateral talks in an effort to forge a final peace. The Abu Dhabi talks are expected to run until Thursday. Ukrainian President Volodymyr Zelensky is complaining about the timeline of Trump's winter brief truce, saying it only began last Friday, a day after Trump announced he reached the temporary deal. And then as Reuters reported : Russia's air attack on Ukraine's energy system overnight on Tuesday was the biggest sin...
The Trump administration is reducing the number of immigration enforcement officers in Minnesota after state and local officials agreed to cooperate by turning over arrested immigrants, border tsar Tom Homan said on Wednesday. About 700 of the roughly 3,000 federal officers deployed around Minnesota will be withdrawn, Homan said. The immigration operations have upended the Twin Cities and escalate...
The Trump administration is reducing the number of immigration enforcement officers in Minnesota after state and local officials agreed to cooperate by turning over arrested immigrants, border tsar Tom Homan said on Wednesday. About 700 of the roughly 3,000 federal officers deployed around Minnesota will be withdrawn, Homan said. The immigration operations have upended the Twin Cities and escalated protests, especially since the killing of protester Alex Pretti, the second fatal shooting by federal officers in Minneapolis. “Given this increase in unprecedented collaboration, and as a result of the need for less public safety officers to do this work and a safer environment, I am announcing, effective immediately, we’ll draw down 700 people effective today – 700 law enforcement personnel,” Homan said during a news conference. Advertisement Homan said last week that federal officials could reduce the number of federal agents in Minnesota, but only if state and local officials cooperate. His comments came after President Donald Trump seemed to signal a willingness to ease tensions in the Minneapolis and St. Paul area. A banner reading “ICE OUT OF MN” hangs on the side of Wrecktangle Pizza on Monday. Photo: Getty Images via AFP Homan pushed for jails to alert ICE to inmates who could be deported, saying transferring such inmates to the agency is safer because it means fewer officers have to be out looking for people in the country illegally.
Fourth-quarter 2025 earnings for Internet stocks were significantly influenced by accelerating artificial intelligence adoption and massive infrastructure investments. Major tech companies substantially increased capital expenditures, with Meta nearly doubling spending to $115-$135 billion for 2026 to support AI initiatives. AI-driven demand fueled strong revenue growth, particularly benefiting so...
Fourth-quarter 2025 earnings for Internet stocks were significantly influenced by accelerating artificial intelligence adoption and massive infrastructure investments. Major tech companies substantially increased capital expenditures, with Meta nearly doubling spending to $115-$135 billion for 2026 to support AI initiatives. AI-driven demand fueled strong revenue growth, particularly benefiting software analytics companies and cloud computing providers. Strong advertising demand and improved AI-powered recommendation algorithms also boosted revenues for social media platforms, while enterprise AI adoption accelerated across commercial and government sectors. This is evident from the strong results delivered by Meta Platforms META. Meta Platforms' fourth-quarter performance is likely to have benefited from increasing AI-infusion across its services, which currently reach more than 3.58 billion people daily. META’s improved recommendation system is driving up user engagement. AI usage is making META a popular name among advertisers. Drawing on our proprietary research and market insight, we’ve identified four stocks — Akamai Technologies AKAM, Five9 FIVN, Fastly FSLY and Spotify Technology SPOT — that appear well-positioned to beat earnings estimates this season. Prospects of Internet Stocks The fourth quarter witnessed Internet stocks navigating a complex landscape shaped by both supportive and challenging dynamics. The artificial intelligence buildout boom remained a primary catalyst, as hyperscalers and technology companies accelerated capital expenditure plans to secure competitive positioning in AI infrastructure. Accelerated AI integration across platforms emerged as a significant driver, with companies demonstrating meaningful progress in monetizing AI capabilities through enhanced search functionality, content creation tools, and personalized user experiences. Digital advertising markets showed resilience, benefiting from improved targeting technologies and me...
The fourth quarter witnessed Internet stocks navigating a complex landscape shaped by both supportive and challenging dynamics. The artificial intelligence buildout boom remained a primary catalyst, as hyperscalers and technology companies accelerated capital expenditure plans to secure competitive positioning in AI infrastructure. Accelerated AI integration across platforms emerged as a significa...
The fourth quarter witnessed Internet stocks navigating a complex landscape shaped by both supportive and challenging dynamics. The artificial intelligence buildout boom remained a primary catalyst, as hyperscalers and technology companies accelerated capital expenditure plans to secure competitive positioning in AI infrastructure. Accelerated AI integration across platforms emerged as a significant driver, with companies demonstrating meaningful progress in monetizing AI capabilities through enhanced search functionality, content creation tools, and personalized user experiences. Digital advertising markets showed resilience, benefiting from improved targeting technologies and measurement capabilities that enhanced return on investment for advertisers. Cloud infrastructure demand continued to expand as enterprises accelerated digital transformation initiatives, supporting Internet companies with significant cloud computing divisions. The Federal Reserve's monetary easing cycle that began in September continued to support growth-oriented Internet stocks, creating a more accommodative financial environment. Seasonal market patterns also played a favorable role, with historically strong fourth-quarter performance trends providing positive technical momentum for equity markets. However, tariff-related uncertainty continued casting shadows over the quarter. Trade tensions persisted despite some bilateral agreements, creating concerns about cost pressures and supply chain disruptions. Software application companies faced particular challenges as concerns mounted about AI disruption threatening traditional business models, leading to underperformance within the broader technology sector. Meanwhile, advertising-dependent business models faced potential pressure from economic deceleration concerns, raising questions about sustained capital expenditure levels by major cloud providers. The quarter ultimately reflected a tug-of-war between transformative technological opportun...
Image source: The Motley Fool. Feb. 4, 2026 at 8:30 a.m. ET CALL PARTICIPANTS Chief Executive Officer — Joakim Weidemanis Chief Financial Officer — Marc Vandiepenbeeck Need a quote from a Motley Fool analyst? Email [email protected] TAKEAWAYS Orders Growth -- Orders increased nearly 40%, following a 16% comparison period, with data center, life sciences, and mission-critical verticals all contribu...
Image source: The Motley Fool. Feb. 4, 2026 at 8:30 a.m. ET CALL PARTICIPANTS Chief Executive Officer — Joakim Weidemanis Chief Financial Officer — Marc Vandiepenbeeck Need a quote from a Motley Fool analyst? Email [email protected] TAKEAWAYS Orders Growth -- Orders increased nearly 40%, following a 16% comparison period, with data center, life sciences, and mission-critical verticals all contributing. -- Orders increased nearly 40%, following a 16% comparison period, with data center, life sciences, and mission-critical verticals all contributing. Revenue -- Reported organic revenue grew 6%, with service delivering 9% growth and all regions achieving positive sales momentum. -- Reported organic revenue grew 6%, with service delivering 9% growth and all regions achieving positive sales momentum. Adjusted EBIT Margins -- Margins expanded by 190 basis points to reach 12.4%, attributed to productivity, pricing, and structural cost improvements. -- Margins expanded by 190 basis points to reach 12.4%, attributed to productivity, pricing, and structural cost improvements. Adjusted EPS -- Adjusted earnings per share rose nearly 40% to $0.89, surpassing prior guidance. -- Adjusted earnings per share rose nearly 40% to $0.89, surpassing prior guidance. Segment Margins -- Americas delivered adjusted segment EBITDA margin of 16.4% (up 20 basis points), EMEA 13.5% (up 120 basis points), APAC 16.9% (up 290 basis points), supported by both volume and productivity gains. -- Americas delivered adjusted segment EBITDA margin of 16.4% (up 20 basis points), EMEA 13.5% (up 120 basis points), APAC 16.9% (up 290 basis points), supported by both volume and productivity gains. Backlog -- The backlog reached a record $18 billion, representing year-over-year growth of 20%. -- The backlog reached a record $18 billion, representing year-over-year growth of 20%. Balance Sheet and Liquidity -- Johnson Controls International JCI +6.73% ) -- Operating Leverage -- Operating leverage for the current...
Key Points The S&P 500 has a consistent pattern in the year leading up to and after U.S. midterm elections. The average S&P 500 returns in the 12 months after midterm elections are a solid 13.6%. Investors should consider dollar-cost averaging to avoid trying to time the market. 10 stocks we like better than S&P 500 Index › After a down year in 2022, the S&P 500 (SNPINDEX: ^GSPC) has pulled off th...
Key Points The S&P 500 has a consistent pattern in the year leading up to and after U.S. midterm elections. The average S&P 500 returns in the 12 months after midterm elections are a solid 13.6%. Investors should consider dollar-cost averaging to avoid trying to time the market. 10 stocks we like better than S&P 500 Index › After a down year in 2022, the S&P 500 (SNPINDEX: ^GSPC) has pulled off three consecutive years of double-digit gains (16% in 2025, 23% in 2024, and 24% in 2023). It's only the eighth time that this has happened since 1926. Who knows what 2026 holds for the stock market's most popular index? But with the U.S. midterm elections in November, there's an interesting pattern worth noting. It's a historical pattern that could work in investors' favor -- but there's a catch. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » It can get cloudy before it gets sunny again History shows that the S&P 500 often hits a rough patch in the year leading up to the midterm elections. The good news is that in the 12 months after, the S&P 500 has typically gone on a good run. Midterm Date Largest Drawdown Before Midterm S&P 500 Returns Post-Midterms (12m) Nov. 8, 2022 (25.4%) 13.6% Nov. 6, 2018 (10.2%) 12% Nov. 4, 2014 (7.4%) 4.5% Nov. 2, 2010 (16%) 2.1% Nov. 7, 2006 (7.7%) 6.6% Nov. 5, 2002 (33.8%) 14.9% Nov. 3, 1998 (19.3%) 22% Nov. 8, 1994 (8.9%) 25.9% Nov. 6, 1990 (19.9%) 24.7% Nov. 4, 1986 (9.4%) 1.9% These are just the past 10 midterms, too. Dating back to the 1926 midterm, the average S&P 500 returns in the 12 months after are 13.6%. The only two times that it finished negatively were after the 1930 and 1938 midterms. Every situation is different, but one broad reason this tends to be the case is that there's more certainty after the midterms. Leading up to it, there's a chance new leadership could mean new regulations, tax rule changes, or an...
Joaquin Corbalan/iStock via Getty Images Nova Minerals ( NVA ) said late Tuesday it plans to redomicile to the U.S. following the loss of its foreign private issuer status while retaining its dual ASX and Nasdaq listings. In addition to reducing potential compliance obstacles, Nova's ( NVA ) board believes the proposed redomiciliation has several benefits, including improved access to lower-cost e...
Joaquin Corbalan/iStock via Getty Images Nova Minerals ( NVA ) said late Tuesday it plans to redomicile to the U.S. following the loss of its foreign private issuer status while retaining its dual ASX and Nasdaq listings. In addition to reducing potential compliance obstacles, Nova's ( NVA ) board believes the proposed redomiciliation has several benefits, including improved access to lower-cost equity capital in the U.S. markets, which are larger and more diverse than Australian capital markets, and increased appeal to a broader U.S. investor base. As part of the reorganization, Nova ( NVA ) said it will seek to acquire the remaining 15% interest in its Estelle gold and critical minerals project in Alaska, securing full ownership to support its advancement toward construction and facilitating access to funding. Nova ( NVA ) also said CFO Michael Melamed has provided three months' notice that he intends to resign from his position, as the company begins a search for a U.S.-based CFO with experience in mining operations and U.S. GAAP accounting. More on Nova Minerals Nova Minerals: Solid Capital Injection And Possible Mineral Production In 2026 Nova Minerals Discusses Estelle Project Strategy and Major U.S. Award for Antimony Production Transcript Seeking Alpha’s Quant Rating on Nova Minerals
Ralf Geithe/iStock via Getty Images Thesis Devon Energy ( DVN ) and Coterra Energy ( CTRA ) announced a merger of equals on February 2nd . The combined entities will now have a merged value of roughly $58 billion. The transaction checks multiple boxes for investors. The deal increases the dividend to equivalent to that of CTRA, giving DVN shareholders a slight boost in yield. Additionally, the com...
Ralf Geithe/iStock via Getty Images Thesis Devon Energy ( DVN ) and Coterra Energy ( CTRA ) announced a merger of equals on February 2nd . The combined entities will now have a merged value of roughly $58 billion. The transaction checks multiple boxes for investors. The deal increases the dividend to equivalent to that of CTRA, giving DVN shareholders a slight boost in yield. Additionally, the combined companies are expected to realize $1B in synergies, allowing for double-digit free cash flow yield post-merger. The deal also strengthens the optionality of the DVN portfolio through specific investment hubs in oil, wet gas, and dry gas via the Delaware, Anadarko, and Marcellus shales. These basins can also implement the efficiency improvements of CTRA’s large row projects as well as DVN’s usage of AI-driven artificial lift. Combined, the synergy potential is large. The deal enhances the value of both companies that I have previously rated positively. The new and more efficient version is well deserving of a BUY rating. Merger Highlights CTRA shareholders will receive 0.7 DVN shares for each of their existing shares. The combination will result in the pro forma version of DVN ratcheting up in scale, now exceeding the likes of EOG Resources ( EOG ) and Occidental Petroleum ( OXY ) in terms of total production. DVN+CTRA Investor Presentation Also of note is the company’s shift to a gassier portfolio. The combined entity will have an oil cut of roughly one-third of total production. This is likely to be seen as a positive in both the near and medium terms as gas returns are expected to be more favorable versus oil. Operationally, the main attraction for investors is centered in the Permian Basin. The combined entity will have a significantly expanded scale, particularly in the Northern Delaware. Here we can see that many of the seemingly “lost” CTRA blocks fit nicely into the neighboring DVN acreage. This effectively makes multiple “sub-cores” within the Delaware Basin, ...