On Feb. 3, 2026, Climber Capital SA disclosed in an SEC filing that it sold out its entire position in First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC) , an estimated $3.46 million trade based on quarterly average pricing. According to a recent SEC filing , Climber Capital SA fully exited its position in First Trust Global Tactical Commodity Strategy Fund, selling 144,878 shares. The estimated value of the trade is $3.4 million, calculated using the average FTGC price during the quarter. The net position change at quarter-end, reflecting both sales and market price movements, was a decrease of $3.4 million. First Trust Global Tactical Commodity Strategy Fund (FTGC) is a sizable, actively managed ETF with a market capitalization of $2.29 billion, designed to provide diversified commodity exposure. The fund employs a tactical approach, combining futures, swaps, and commodity-linked instruments to capture returns across multiple commodity sectors. FTGC's structure allows for efficient access to global commodity markets while maintaining the regulatory advantages of a U.S.-listed ETF. Continue reading

Immanuel Feyi-Waboso is an injury doubt for England's Six Nations opener against Wales on Saturday after the wing finished Thursday's training session prematurely because of a leg injury. "Manny just pulled up at the very end," defence coach Richard Wigglesworth told Rugby Union Weekly. "His leg's sore. There was nothing specific and he walked off, there was nothing much to it, but he did miss the last 60 seconds of training so we're just waiting to investigate that a little bit more." Exeter Chiefs winger Feyi-Waboso was born in Cardiff and represented Wales at age-grade level, but is yet to face them at senior level. The 23-year-old started all four of England's autumn Tests and his potential withdrawal could prompt a significant reshuffle to the backline. Tommy Freeman, who was named at 13, could revert to the wing where he has played the majority of his Test rugby, with Max Ojomoh an option to come into the centres. A more simple swap would involve the versatile Elliot Daly replacing Feyi-Waboso on the wing. Harlequins winger Cadan Murley is with England A preparing for a Friday fixture with Ireland's second string, while Sale's Tom Roebuck, another wing option, has been given an extra week to recover from a toe injury. Feyi-Waboso was shortlisted for World Rugby's Breakthrough Player of 2024 after a stunning campaign which included three tries against New Zealand, but his progress was slowed by a shoulder injury that ruled him out of last year's Six Nations. He made his return to rugby in an England A game against France, but earned a red card for a high shot on Antoine Hastoy in the 34th minute. A subsequent two-match ban ruled him out of two Tests against Argentina in the summer, but England coach Steve Borthwick kept the 23-year-old as part of the squad anyway, giving him a start against the United States on the way home and illustrating the high esteem he is held in. "Manny is really, really keen to be as good as he can be," added Wigglesworth. "if that's y...

The Side Hustle Tipping Point: When a Gig Becomes a Real Business, and What Happens If You Wait Too Long to Formalize The nine-to-five is no longer the sole financial engine for millions of Americans. As living costs climb and job security feels less certain, side hustles have shifted from optional extras to essential income streams. Even professionals with full-time roles are selling products online, consulting after hours, or building creator platforms to close the gap. And that shift is accelerating. Platforms like Etsy, Amazon, Shopify, and TikTok Shop have normalized small‑scale commerce, while the creator economy has turned personal brands into revenue channels almost overnight. "We're seeing a surge in people turning to side hustles as a way to build financial stability in these uncertain economic times," Kira Caban, flexible work expert and head of communications for Instawork, told FOX Business. What starts as supplemental income often scales quickly, and so do the stakes. The IRS now scrutinizes sponsorships, tips, affiliate revenue, and other gig income, even when no 1099 is issued. And while the 1099-K threshold returned to $20,000 and 200 transactions, creators and sellers still face rules that can quietly convert a casual hobby into a business. The tipping point isn't always obvious. But missing it can be costly. What defines the transition from "side hustle" to "business"? The line separating casual income from commercial activity remains frustratingly unclear. No single moment marks the shift. Instead, it emerges gradually through operational changes that many only recognize in hindsight. Revenue patterns offer the most visible indicator. "The first big sign your side hustle has turned into a legitimate business is when revenue starts to look less like 'extra' money and more like a paycheck," notes DBI Agency. The second sign often follows quickly, as customers begin expecting consistency rather than availability, which forces deeper commitments. Ear...

AI company Anthropic (ANTH.PVT) is expanding on its recent software launches, debuting its Opus 4.6 model on Thursday, saying it's the company's "most capable model for all enterprise and knowledge work." The announcement comes just days after Anthropic revealed a series of enterprise-focused plugins for the company's Claude Cowork, designed for a variety of tasks ranging from productivity to legal, sales, and marketing work. That news sent shares of already vulnerable software companies plunging further south after big losses in 2025 amid fears that AI platforms like Claude Cowork will replace software-as-a-service offerings from the likes of Salesforce (CRM) and SAP (SAP) in the coming years. Anthropic's release also comes just hours after OpenAI announced its new Frontier platform, which the company says is designed to allow customers to deploy AI agents that will interact with their existing software systems and perform tasks for and with workers. Salesforce stock is off 25% since the start of the year, while SAP shares have fallen 18%. Intuit (INTU) and Thomson Reuters (TRI) stock prices have plummeted 32% and 30%, respectively, over the same period. Anthropic CEO Dario Amodei at the Code with Claude developer conference on May 22, 2025, in San Francisco. (Don Feria/AP Content Services for Anthropic) · ASSOCIATED PRESS Anthropic has made enterprise work and coding two of its key business drivers, helping the company better differentiate itself from chief rival OpenAI (OPAI.PVT), with Cowork and its associated plugins pushing the AI firm into closer competition with software companies. Opus 4.6, the company said, "is a frontier model that raises the bar for knowledge work, with the ability to take on entire complex tasks." Based on the company's benchmarks, Opus 4.6 tops a number of major benchmarks, beating out the likes of OpenAI's GPT-5.2 and Google's Gemini 3 Pro. According to a release, Opus 4.6 can produce results closer to "production-ready quality" on it...

Former Great Britain sprinter Reece Prescod has given the clearest indication yet that he will take performance-enhancing drugs as part of the controversial Enhanced Games - saying: "If that's something that will take me to the next level, I'm not against it." Prescod, who announced his retirement last August after a career in which he took part in three World Championships and the Tokyo 2020 Olympic Games, added that it would be "interesting to know that's how fast I can run with the additional help". The Enhanced Games permit athletes, under medical supervision, to take drugs banned in mainstream sport. Last month, having signed up to the project after retiring from elite sprinting, Prescod told the BBC that he would not take performance-enhancing drugs. But speaking in Abu Dhabi at an Enhanced Games training camp before its inaugural competition in Las Vegas in May, the former Olympian now says he is open to doing so. "I will have a conversation with the doctors and see if that's going to be part of my journey, but as it stands right now, my initial focus is to train" he told BBC Sport. "I've got the medical team to support me and if that's something I feel like I can take, that will take me to the next level, I'm not against it." "I want to be able to run the fastest time as possible and push my body to the limits."

is The Verge’s senior AI reporter. An AI beat reporter for more than five years, her work has also appeared in CNBC, MIT Technology Review, Wired UK, and other outlets. Posts from this author will be added to your daily email digest and your homepage feed. Anthropic’s “smartest model” is getting a major boost, the company said in a blog post announcing Claude Opus 4.6. It called the new model a “direct upgrade” from its predecessor in a release, noting that it can better take on complex, multi-step tasks and get “much closer to production-ready quality on the first try than what we’ve seen with any model — documents, spreadsheets, and presentations will need less back-and-forth on iterations.” It’s available starting today with the same pricing as its predecessor, and according to the company, its particular strengths are in agentic coding, tool use, search, and financial analysis. But most of all, it seems that with this release, Anthropic wants to expand Claude’s current hype beyond just coding and corner the market on other types of knowledge work. With Opus 4.6, it invested in making the model better at creating presentations in PowerPoint and documents in Excel. The blog post included a plug for Cowork, Anthropic’s recent release that’s a non-tech-worker-friendly version of Claude Code, in hopes that users in non-technical industries will explore the use cases for research, marketing, and more. On the coding front, Anthropic said in a release that Opus 4.6 was built to improve developers’ experience with Claude Code even further, since it specializes in long-horizon tasks and can “take a development project that would normally take days and finish it in hours, handling everything from architecture to deployment.” The company also announced a feature currently in research preview called “agent teams,” allowing the new model to work within Claude Code “the way a real engineering team does,” meaning it’s possible to split one project’s work across agents that each...

is a senior reviewer covering TVs and audio. He has over 20 years experience in AV, and has previously been on staff at Digital Trends and Reviewed. Each TV company has its own distinct personality and direction. These change over the years, with new technological breakthroughs or at least new business deals. New aspirations shake up the natural order. This year, for example, nearly every company has decided to make and heavily promote RGB LED TVs. Some of them, like Hisense, seem like they’re doing it because they want to. LG’s making one too, but it’s clear the company’s heart still lies with OLEDs. Are RGB LED TVs the next big thing? Who knows! 2026 is only a few weeks old, but we’re already seeing those personalities and how the choices each manufacturer makes can affect the year ahead, both for themselves and for their competitors. Here’s where things stand at the beginning of 2026. Who knows where we’ll be at the end of it? LG: the OLED darling The W6 Wallpaper OLED TV is only 9 millimeters thin and uses LG’s most advanced OLED panel. Photo by John Higgins / The Verge LG has long been the dominant force in OLEDs, consistently making some of the most impressive TVs in the mid-to-high end, from a $1,300 B-series TV all the way up to the $60,000 OLED T. OLED panels are emissive: each pixel creates its own light, allowing for pixel-level control of brightness and color as well as incredible contrast and zero blooming, since each pixel can be turned off individually. OLED TVs still give you the best performance you can get for a reasonable amount of money, and that’s likely to be the case for at least another few years. The one drawback of OLED panels, historically, has been brightness, especially in well-lit rooms. But in 2025, LG implemented the four-stack OLED technology developed by LG Display in its G5 TV, delivering the brightest picture we’ve seen from an OLED. (Panasonic also implemented the four-stack panel.) This year, in addition to being in the G6, the ...

is The Verge’s senior AI reporter. An AI beat reporter for more than five years, her work has also appeared in CNBC, MIT Technology Review, Wired UK, and other outlets. Boris Cherny gets recognized in public relatively often. At the bar, at the airport, and in generally any public space, people want to take selfies with the creator and head of Claude Code. For the last couple of months, Anthropic’s Claude and its coding platform have been having a moment — on social media, in engineers’ circles, and in C-suite offices. Claude Code reached newfound popularity over the holidays, when people spent days or weeks building anything from a tool for viewing MRI results to a Goodreads alternative to an AI-generated T-shirt design contest with a complex judicial system. X posts in January proclaimed that “we are witnessing an irreversible trend” of Anthropic “taking the lead” from OpenAI, asking what Anthropic had possibly “put into” the model to make it so capable, and wondering if this meant “the fall of” OpenAI. Between December 29th and January 26th, Anthropic’s word-of-mouth exposure spiked by 13 percentage points compared to the prior 30-day period, while OpenAI’s had dropped slightly, according to data from Caliber, a stakeholder intelligence platform. In November 2025, Claude Code passed $1 billion in revenue, according to Anthropic. The company is also reportedly in talks to double its latest funding round to $20 billion (at a $350 billion valuation) due to a spike in investor demand. Now, the company is releasing a new model, Opus 4.6. Anthropic calls Claude a “direct upgrade” from its predecessor, with improved speed and precision for agentic work of all kinds, from coding to creating presentations in Excel and PowerPoint. Dianne Na Penn, Anthropic’s head of research product management, told The Verge that Opus 4.6 is an “evolution from past models” in that it can “think” longer about more complex questions. After months at the peak of the hype cycle due to the rec...

Their film was shot in secret and smuggled out of Iran. It won an award at Sundance toggle caption Mandalit del Barco/NPR A feature film shot covertly in Iran won a jury award for ensemble cast at this year's Sundance Film Festival. Between war and recent street protests, the filmmakers had many challenges getting The Friend's House is Here finished in time for their premiere. Set just after last summer's Iran-Israel war, the film is a portrait of Tehran's vibrant underground culture. Despite increasing government crackdowns, street concerts, art galleries, avant-garde theater performances, and after parties carry on. They are the spaces where artists celebrate, flirt, and discuss life and art. The story — all in Persian — centers on two roommates and friends who are part of that scene. Like the actresses who portray them, one performs with an underground theater troupe, and the other makes social media videos of herself dancing in front of historical monuments — something that's illegal under Iranian law. Sponsor Message When a woman in the street scolds Pari and Hana for not wearing their hijabs, they laugh. They and their creative friends refuse to be silenced by the regime, even as authorities begin to target them. toggle caption Alma Linda Films "They just wanna just have a regular life, they wanna be on Instagram, they wanna dance. They wanna be free," says filmmaker Maryam Ataei. "We wanted to tell the story of sisterhood and a fantastic community of people helping each other." Her co-director and husband, Hossein Keshavarz, who also co-wrote and co-produced the film says they were inspired by the young artists they know in Tehran. "We just fell in love with them. They're so cool. They're so funny. They're so hip," he says. "Resistance is an everyday act for them." Keshavarz says the same defiant generation has been challenging the Iranian government in massive street protests. But as NPR has reported, security forces have arrested and even killed thousands o...

Prediction markets are interesting developments, but are they the long-term opportunity that investors are hoping for? Prediction markets are a fascinating development, since they allow a person to, basically, put their money where their mouth is. With money on the line, predictions are expected to be more reliable. That makes these markets a very attractive tool for assessing outcomes. DraftKings (DKNG 6.90%), Flutter Entertainment (FLUT 2.40%), and Robinhood Markets (HOOD 7.63%) are all hoping to get in early on the prediction markets opportunity. Should you join in and buy one of these stocks? What are these companies doing? DraftKings offers prediction markets trading in all but three U.S. states. In the 47 other states, it offers sports markets, financial markets, or both. Flutter Entertainment offers prediction markets through its FanDuel site. FanDuel offers prediction markets in all 50 states, with some states only offering finance, economics, and commodities prediction markets, and others adding sports predictions to the mix. Robinhood Markets offers prediction markets in sports, finance, social events, and economics. It states that "Some contracts may not be available in every state or territory." Robinhood also states in its FAQ section on prediction markets that "Robinhood event contracts allow for speculation in prediction markets -- these are not bets." Expand NASDAQ : HOOD Robinhood Markets Today's Change ( -7.63 %) $ -6.15 Current Price $ 74.47 Key Data Points Market Cap $72B Day's Range $ 74.01 - $ 79.39 52wk Range $ 29.66 - $ 153.86 Volume 1.5M Avg Vol 27M Gross Margin 89.78 % However, there's no fundamental value to any prediction, so for most investors prediction markets will probably look a lot like a bet. This is the issue that long-term investors need to keep in mind when considering the value of prediction markets to companies (like Robinhood, DraftKings, and Flutter) that offer them. Getting in early, or taking on too much risk? Humans enjoy...

OpenAI on Wednesday released GPT-5.3-Codex , which the company calls its most capable coding agent to date, in an announcement timed to land at the exact same moment Anthropic unveiled its own flagship model upgrade, Claude Opus 4.6 . The synchronized launches mark the opening salvo in what industry observers are calling the AI coding wars — a high-stakes battle to capture the enterprise software development market. The dueling announcements came amid an already heated week between the two AI giants, who are also set to air competing Super Bowl advertisements on Sunday, and whose executives have been trading barbs publicly over business models, access, and corporate ethics. "I love building with this model; it feels like more of a step forward than the benchmarks suggest," OpenAI CEO Sam Altman wrote on X minutes after the launch. He later added: "It was amazing to watch how much faster we were able to ship 5.3-Codex by using 5.3-Codex, and for sure this is a sign of things to come." That claim — that the model helped build itself — is a significant milestone in AI development. According to OpenAI's announcement, the Codex team used early versions of GPT-5.3-Codex to debug its own training runs, manage deployment infrastructure, and diagnose test results and evaluations. The company describes it as "our first model that was instrumental in creating itself." OpenAI's new coding model posts record-breaking benchmark scores, outpacing Anthropic's Claude by double digits The new model posts substantial gains across multiple industry benchmarks. GPT-5.3-Codex achieves 57% on SWE-Bench Pro , a rigorous evaluation of real-world software engineering that spans four programming languages and tests contamination-resistant, industrially relevant challenges. It scores 77.3% on Terminal-Bench 2.0 , which measures the terminal skills essential for coding agents, and 64% on OSWorld , an agentic computer-use benchmark where models must complete productivity tasks in visual desktop ...

What's Going On With Microsoft Stock? Benzinga

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A Dingdong Fresh store in Hangzhou, Zhejiang. Photo: IC Meituan has agreed to acquire the Chinese business of rival Dingdong (Cayman) Ltd. for an initial $717 million in a strategic move to consolidate China’s competitive fresh grocery e-commerce market. Under the terms of the agreement announced Thursday, Meituan will purchase all shares of Dingdong Fresh Holding Limited. The deal structure allows the seller to withdraw up to $280 million in dividends from the target group before Aug. 31, provided the unit retains at least $150 million in net cash. This provision suggests that the total value realized by the seller could reach about $997 million. Dingdong’s overseas business is excluded from the transaction and will be spun off prior to closing.

Stifel lowered the company’s outlook to ‘Hold’ from ‘Buy,’ and slashed its price target by about 27% to $392, down from $540. Stifel cited Microsoft’s Azure supply issues as one of the reasons for the downgrade. The analyst said that when combined with Google's strong cloud platform, Gemini results, and growing Anthropic momentum, a near-term Azure acceleration is unlikely, according to TheFly. Retail sentiment on Stocktwits stayed at similar ‘extremely bullish’ levels since the company’s earnings results last week. Shares of Microsoft Corp. (MSFT) slumped over 5% on Thursday after the company received a downgrade and price target cut from Stifel. The analyst lowered the company’s outlook to ‘Hold’ from ‘Buy,’ and slashed its price target by about 27% to $392, down from $540. However, retail investors on Stocktwits continued to remain ‘extremely bullish’ on the stock. Analyst Rationale Stifel cited Microsoft’s Azure supply issues as one of the reasons for the downgrade. The analyst said that those troubles, combined with Alphabet Inc. Google's (GOOGL) strong cloud platform, Gemini results, and growing Anthropic momentum indicate that a near-term Azure acceleration is unlikely, according to TheFly. Stifel also said that in FY27, Microsoft is also likely to have less in-period revenue recognition compared to FY26 in line with several product cycles. The analyst noted that it is modeling its view on Microsoft based on 2027 EPS expectation of $18.70, which is below consensus. According to data from Fiscal.ai, the analyst consensus for Microsoft’s EPS in 2027 is at $18.88 based on 34 estimates, with the high-end expectation noted to be $20.27. Earnings Update Last week, Microsoft reported second-quarter (Q2) 2026 results that beat Wall Street consensus estimates, with quarterly revenues coming in 17% higher than the previous year at $81.3 billion, and above the street consensus of $80.25 billion as per data from Fiscal.ai. Earnings also beat market estimates. However, th...

March 27th Options Now Available For Broadcom (AVGO) Nasdaq

Morsa Images | Digitalvision | Getty Images Consumers enrolled in Medicare Advantage health insurance are in the middle of a short annual window when they can reassess their coverage options — and experts say it's smart to do so this year as both the Centers for Medicare and Medicaid Services and private insurers consider changes. CMS announced in late January new proposed policies for Medicare Advantage and Part D that are aimed at ensuring payments to insurers are accurate, according to the agency. It also proposed new Medicare Advantage payment rates that would be mostly flat — up just 0.9% from 2026 to 2027, representing $700 million in payments to plans. The government's payment rate determines how much insurers can charge enrollees for premiums and plan benefits. Stocks of large health care companies tumbled on the announcement . Analysts were expecting a 4% to 6% increase, and insurers have said that the proposed rates may prompt benefit cuts or plan closures. In 2025, more than half — 54% — of Medicare beneficiaries were enrolled in Medicare Advantage, according to KFF , a nonpartisan health policy, research, polling and news organization. About 34.1 million beneficiaries were enrolled in Medicare Advantage, versus 62.8 million enrolled in Medicare Parts A and B, according to KFF. Read more CNBC personal finance coverage Bitcoin sells off amid 'crypto winter.' What investors need to know It's Medicare Advantage open enrollment: What to know about switching plans Super Bowl ad featuring Trump accounts to air on Sunday — here's a first look Workers with student loan debt have less saved for retirement, Fidelity finds Millions may drop ACA coverage — and raise health insurance costs for everyone else Retirement savings 'lost and found' helps retirees track down old 401(k)s Bigger SALT cap may 'drive higher refunds,' tax expert says — who benefits What new Medicaid, SNAP work requirements mean for older workers Trump accounts could grow to $50,000 or more, presi...

Kaewta Suphan/iStock via Getty Images Market Recap - Fourth Quarter 2025 While the final quarter of 2025 resulted in a more modest, +2.7%, gain for the US stock market, as measured by the S&P 500 Index, the year's +17.9% advance caps a historical 3+ year run that has seen the US market double off the October 2022 low that marked the dawn of the AI era. Notably, the year wound down with questions percolating around AI's circular investments, true earnings potential, vastly growing capital intensity, and the introduction of debt-based versus internally generated financing to pay for the AI buildout. This newfound skepticism resulted in a bit of a timeout for the ongoing AI and momentum-based boom, as the Technology sector and growth stocks gave way to Health Care and value stocks for 2025's final chapter. Herding and concentration in mega cap growth stocks continued to be a path to outperformance in the US market for 2025. However, low quality, high beta stocks proved to be the biggest winners of the year, especially off the April low, where the S&P 500 High Beta Index jumped 75% into year-end, nearly double the 39% for the S&P 500 and light years ahead of the 28% move in the S&P 500 Quality Index. Encouragingly, global diversification added value for the year as larger returns were found in the international markets with the MSCI ACWI ex-US Index outperforming over the final quarter, with a +5.1% gain, and the year at +32.4%. A nearly 10% drop in the US dollar provided a substantial tailwind for owning non-US dollar assets in 2025. Fixed income investors were also spoiled with sizeable gains as short to intermediate term interest rates fell and credit spreads tightened. The broad-based Bloomberg US Aggregate Bond Index gained +7.3% in total, with +1.1% coming from Q4. Simply put, 2025 was a fantastic year for investors. Performance Within US equities, the AI/momentum pause and broader US stock market performance benefited portfolio results for the quarter given our u...

格隆汇2月6日｜沙特阿美：沙特阿拉伯将3月销往美国的阿拉伯轻质原油官方售价定为较阿格斯含硫原油升水2.10美元/桶。

Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought The Globe and Mail

Stocks making the biggest moves midday: Amazon, Canada Goose, Estee Lauder, Qualcomm & more CNBC

格隆汇2月6日｜沙特阿美：沙特阿拉伯将3月销往西北欧的阿拉伯轻质原油官方售价定为较ICE布伦特原油结算价贴水0.65美元/桶。

Brazilian conglomerate CSN is planning to raise as much as $1.5 billion in a secured loan to pay off maturing bonds and improve its debt profile, according to people familiar with the matter. Shares of the holding company’s subsidiaries, including the cement unit, will be used as collateral, the people said, asking not to be named because the plan is private. Morgan Stanley , Citigroup Inc. , Deutsche Bank AG , BNP Paribas SA and HSBC Holdings Plc are among the banks that would participate, some of the people said. A representative for CSN declined to comment, as did ones for BNP, Deutsche Bank, and Citi. HSBC and Morgan Stanley didn’t respond to requests for comment. Cia. Siderurgica Nacional SA , the conglomerate’s formal name, said last month that it plans to divest key assets to reduce its heavy debt burden as high interest rates squeeze financing and weigh on investments. Read More: Brazilian Tycoon Steinbruch to Sell CSN Assets to Slash Debt The company has discussed initial public offerings as a deleveraging option for years, and has previously announced asset sales that didn’t materialize. But this time it set a concrete goal to cut 15 billion reais ($2.9 billion) to 18 billion reais — about half its debt — starting this year. The group, controlled by the billionaire Steinbruch family, has hired advisers to sell a significant stake in CSN Infraestrutura — which owns ports, railways and a logistics company — as well as control of its cement unit, it said. CSN, which is aiming to sign deals in the second half of this year, said it’s also seeking a strategic partner to help it modernize the steel operation, the conglomerate’s original business. Morgan Stanley is working with CSN on the sale of the cement company, while Citi and Banco Bradesco SA are handling the sale of the infrastructure business, other people said. A representative for Bradesco declined to comment.

Bristol Myers Squibb on Thursday delivered strong fourth quarter results — and better yet, issued a 2026 forecast that was above Wall Street expectations. Combine that with a single-digit price-to-earnings multiple and the simple fact that this isn't a software company, and you've got the makings of a stock that can keep the momentum going in the current market conditions. Revenue in the fourth quarter ended Dec. 31 ticked up 1% to $12.5 billion, ahead of the $12.28 billion expected, according to LSEG. Earnings per share (EPS) fell 25% year over year to $1.26. However, it still managed to outpace estimates of $1.12, according to LSEG. Shares of Bristol Myers rose more than 1.5% on Thursday, bucking another down day in the S & P 500. The benchmark index is on track for its third negative session in a row and sixth of the past seven, with the heavy selling in software stocks believed to be at risk of AI disruption. Bristol Myers, by contrast, has added more than 6% in that stretch, a reflection of the drug stock's defensive nature. Bristol Myers Squibb Why we own it: The company's new schizophrenia treatment Cobenfy has major sales potential, though it remains in the early innings. Bristol Myers has key products, such as blood thinner Eliquis and lung-cancer therapy Opdivo, which will be coming off patent in the coming years. However, we believe its portfolio of growth drugs, including Cobenfy, can help navigate that patent cliff. Initiation: Nov. 25, 2024 Most recent buy date: Feb. 10, 2025 Competitors: AbbVie , Pfizer , Amgen , Johnson & Johnson , and Merck Bottom line Bristol Myers turned in a solid earnings report, with top and bottom line beats and an encouraging 2026 forecast. In the fourth quarter, sales benefited from broad-based strength across multiple drugs, while earnings benefited from better-than-expected margins as the company's cost-cutting efforts bore fruit. Both research-and-development costs and overhead expenses declined year over year, leading to...

JHVEPhoto/iStock Editorial via Getty Images I remember that it was around this time last year that we dealt with the fallout from DeepSeek ( DEEPSEEK ), as the Chinese AI company prodded a massive scare that took American AI investors by surprise while inviting deep introspection across the AI value chain. This year, we have fears surrounding the AI software companies , including Palantir ( PLTR ), despite surpassing estimates and even presenting world-class guidance for PLTR bulls to savor in the limelight. However, it seems like the market was in no mood to entertain any form of optimism, so they scrambled for the exit doors while taking down the software narrative several more notches as technology investors faced an unrelenting market reckoning to start off 2026. As a quick recap, I presented my case on why AMD must sustain a solid AI revenue cadence through FY2028 to justify the high valuation baked into its performance. However, the road ahead remains mired with uncertainties linked to Nvidia’s ( NVDA ) execution and also the renaissance of custom chips recently popularized by the capabilities of Google’s TPUs v7. Despite that, I believe the market does have space for more credible AI arms dealers to give Nvidia a run for its money. And the AI boom is also too massive for one company to own it all, no? And I don’t think it’s something that will be palatable for the tech value chain and customer base to readily accept, as they have to put all their bets into Nvidia’s success (given the immense scale of the AI CapEx), without somebody like Advanced Micro Devices, Inc. ( AMD ) nudging them harder to develop even more breathtakingly powerful and efficient training and inference chips. Nevertheless, some could argue that AMD has its work cut out because it not only has to deal with Nvidia's prowess and stranglehold but also the resurgent Google ( GOOGL , GOOG ) on its pivotal partnership with Broadcom ( AVGO ). So, now we have the companies behind the TPUs increasi...

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Bob’s Discount Furniture Inc. , a home furnishings retailer backed by Bain Capital , jumped as much as 11% in its trading debut Thursday, after the company raised $331 million in a US initial public offering. The company’s shares traded at $18.58 each as of 12:52 p.m. in New York, above its IPO price of $17. The trading gives the company a market value of $2.42 billion, based on the outstanding shares. The Manchester, Connecticut-based company sold 19.45 million shares in its IPO, which priced at the bottom of the $17 to $19 range. Bain-advised investment funds and affiliates were expected to own roughly three-quarters of the outstanding common stock following the offering. Bob’s joins a busy slate of debuts by private equity firms’ portfolio companies. Blackstone Inc. -backed compressor maker Copeland has submitted confidential paperwork for a listing, while EQT AB ’s student transportation firm First Student Inc. has picked banks for a potential IPO, people familiar with the matter have said . Read More: Space, AI and Crypto Candidates Lead US IPOs to Watch This Year Uncertainty about the resilience of US consumers, the Trump administration’s tariffs and higher interest rates have weighed on IPO activity from consumer-focused companies such as retailers and apparel makers. Bob’s has more than 200 stores across 26 states, according to the company’s filings, with plans to grow beyond 500 locations by 2035. Bain Capital agreed to acquire the company in late 2013 from Apax Partners and KarpReilly . Founded in 1991, the company’s strategy is to sell furniture below other rival discounters’ prices. Bob’s had adjusted earnings before interest, taxes, depreciation and amortization of $164 million, with comparable sales growth of nearly 11% in the nine months ending Sept. 28. Bob’s generated net income of $80.7 million with revenue of $1.72 billion over the same period, compared with net income of $49.3 million on revenue of $1.43 billion in the prior-year span, according ...

Earnings Call Insights: ITT Inc. (ITT) Q4 2025 Management View Luca Savi welcomed Carleen Salvage as the new Vice President of Investor Relations and Financial Planning and Analysis, highlighting her return and expanded leadership responsibilities. Savi thanked shareholders for their participation in the December equity raise to fund the pending SPX FLOW acquisition, and emphasized the milestone year, stating, “The dominant theme of the year was growth, and we delivered growth across every metric... revenue, margin, cash, orders, and all these compounded with M&A.” Savi reported ITT grew revenue 8% in total and 5% organically, EPS 14% (or 18% excluding the Walgreens divestiture and equity raise impact), and operating income 11%, while expanding margin by 40 basis points to 18.2%. Free cash flow grew to over $550 million, up 27%, and share repurchases totaled $500 million. Savi detailed that in Q4, orders and revenue both exceeded $1 billion for the first time, with orders up 15% (9% organic) and revenue up 13% (9% organic). Operating margin grew 90 basis points to 18.4%. EPS in Q4 was $1.85, up 23% (26% excluding equity raise dilution). Savi highlighted major contract wins and platforms for growth, including a $50 million win for Bornemann multiphase pumps in Australia, BB3 pumps supporting Argentina’s oil production, supply of biopharma diaphragm valves for GLP-1 drug makers, and a FLRAA energy absorption system project potentially worth more than $60 million over 10 years. He also noted continued market share gains in defense, aerospace, rail, and friction businesses. Savi described the pending SPX FLOW acquisition as a significant accelerator, with expected closing in March, and stated, “We are fully engaged for the long-term success of this new platform... expected savings related to G&A are on track.” Emmanuel Caprais, CFO, stated, “In Q4, we delivered strong performance across the board in orders, revenue, margin, EPS and cash. Our teams delivered over $1 bill...

Earnings Call Insights: Carrier Global Corporation (CARR) Q4 2025 Management View CEO David Gitlin opened by highlighting that "2025 was an important year for Carrier" with short-cycle residential and light commercial markets softening more than anticipated in the second half. Gitlin noted, "We made meaningful progress on our strategic priorities and reached major milestones, including growing our data center business to around $1 billion." Despite declines in CSA residential (down nearly 10%) and light commercial (down about 20%), total company organic sales fell just 1%, credited to growth in long-cycle and aftermarket businesses. Gitlin stated, "We had our fifth consecutive year of double-digit growth in commercial HVAC while continuing to gain share and increase margins. Aftermarket was also up double digits for the fifth consecutive year." The company executed aggressive cost and pricing actions, offsetting tariffs and delivering strong material productivity. Gitlin announced, "The cost actions that we executed into 2025 will deliver over $100 million of savings in 2026." Investments in the data center segment are yielding results, with fourth quarter CSA data center orders up 4x and expectations for data center revenues to grow about 50% in 2026. The company introduced new chiller technologies and expanded its commercial HVAC engineering and manufacturing capacity. Aftermarket business continues to expand, with connected chillers rising from 17,000 to over 70,000 in three years and service agreements now covering 110,000 units, including Toshiba. Modifications and upgrades in aftermarket sales grew 20% last year. CFO Patrick Goris stated, "For the quarter, reported sales were $4.8 billion. Adjusted operating profit was $455 million and adjusted EPS was $0.34." He attributed year-over-year declines to lower volumes in higher-margin CSA Residential and Light Commercial businesses. Goris also highlighted, "Free cash flow in the fourth quarter of about $900 millio...