A new Joseph Rowntree report underlines the corrosive impact of years of anti-welfare rhetoric. A reframing of the debate is urgently needed The Joseph Rowntree Foundation’s latest report on poverty in the UK, published this week, should be read first and foremost as an indictment of all Conservative governments between 2010 and 2024. During almost a decade and a half of Tory rule, the JRF estimat...
A new Joseph Rowntree report underlines the corrosive impact of years of anti-welfare rhetoric. A reframing of the debate is urgently needed The Joseph Rowntree Foundation’s latest report on poverty in the UK, published this week, should be read first and foremost as an indictment of all Conservative governments between 2010 and 2024. During almost a decade and a half of Tory rule, the JRF estimates that no progress at all was made in reducing overall levels of relative hardship. No surprise perhaps. Through wide-ranging, ideologically driven welfare cuts, ministers actively sought to make life harder, not easier, for many of the least well-off. The grim legacy of that approach is that in 2023-24 – the last dataset available – about one in five people were in relative poverty, defined as less than 60% of median income. But it also turns out that 6.8 million people were struggling to survive on far, far less than that, having effectively been economically cut adrift. Some 3.8 million people experienced destitution in 2022. As the JRF’s chief analyst, Peter Matejic, puts it: “Poverty in the UK is still not just widespread, it is deeper and more damaging than at any point in the last 30 years.” Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here . Continue reading...
House Minority Leader Hakeem Jeffries (D-NY) speaks at a press conference with other House Democrats at the U.S. Capitol in Washington, DC on Jan. 22, 2026. Nathan Posner | Anadolu | Getty Images House Democratic leaders on Tuesday threatened to begin impeachment proceedings against Department of Homeland Secretary Kristi Noem if President Donald Trump does not fire her first. Noem has faced incre...
House Minority Leader Hakeem Jeffries (D-NY) speaks at a press conference with other House Democrats at the U.S. Capitol in Washington, DC on Jan. 22, 2026. Nathan Posner | Anadolu | Getty Images House Democratic leaders on Tuesday threatened to begin impeachment proceedings against Department of Homeland Secretary Kristi Noem if President Donald Trump does not fire her first. Noem has faced increased pressure in recent days for her comments in the wake of the shooting of Alex Pretti , a U.S. citizen killed by federal agents in Minneapolis on Saturday. "The violence unleashed on the American people by the Department of Homeland Security must end forthwith. Kristi Noem should be fired immediately, or we will commence impeachment proceedings in the House of Representatives," the Democrats said in a statement. "We can do this the easy way or the hard way," they said. Read more CNBC politics coverage Alex Pretti killing: Minnesota CEOs, including UnitedHealth, Target, call for 'immediate deescalation ' After Minneapolis shooting, government hurtles toward shutdown over DHS funding Trump threatens to impose 100% tariff if Canada makes deal with China Trump withdraws 'Board of Peace' invitation to Carney in widening rift House passes final funding bills 8 days before shutdown, Senate now will consider Greenland PM: Trump-NATO deal framework unclear, sovereignty is a red line Trump sues Jamie Dimon, JPMorgan Chase over debanking the suit calls 'political' Trump says he reached Greenland deal 'framework' with NATO, backs off tariffs Trump interview live updates: CNBC's Joe Kernen sits down with the president at Davos In the aftermath of Pretti's killing, Noem claimed he had been "brandishing" a weapon and that he had responded "violently" to officers' attempts to disarm him, claims that were later contradicted by video analysis and analyses from multiple news outlets. Trump on Tuesday said "no" when a reporter at the White House asked him if Noem would leave her post. This ...
Checks and balances will be needed under the home secretary’s new vision of policing, with its ‘British FBI’ The police, said the home secretary, Shabana Mahmood, in the House of Commons on Monday, is “the last great unreformed public service”. Her white paper aims to redraw the policing map of England (though policing is devolved, the other nations will feel the effects). If she succeeds, the cur...
Checks and balances will be needed under the home secretary’s new vision of policing, with its ‘British FBI’ The police, said the home secretary, Shabana Mahmood, in the House of Commons on Monday, is “the last great unreformed public service”. Her white paper aims to redraw the policing map of England (though policing is devolved, the other nations will feel the effects). If she succeeds, the current patchwork will be replaced by a multi-tier system. The 43 existing police forces, most serving a single county, will be abolished and replaced with a smaller number of bigger organisations. Above all this will sit a new National Police Service – likened to a British FBI – that will take over responsibility for counter-terrorism from London’s Metropolitan police, and for serious and organised crime from the National Crime Agency set up under David Cameron. It will also take over major fraud investigations, as well as functions of the National Police Chiefs’ Council and the College of Policing. Training, standards and leadership will henceforth be under one umbrella. The leader of this organisation will be the country’s most senior officer. Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here . Continue reading...
(RTTNews) - C&F Financial Corp. (CFFI) revealed earnings for its fourth quarter that Increased, from last year The company's earnings totaled $6.71 million, or $2.07 per share. This compares with $6.02 million, or $1.87 per share, last year. C&F Financial Corp. earnings at a glance (GAAP) : -Earnings: $6.71 Mln. vs. $6.02 Mln. last year. -EPS: $2.07 vs. $1.87 last year. The views and opinions expr...
(RTTNews) - C&F Financial Corp. (CFFI) revealed earnings for its fourth quarter that Increased, from last year The company's earnings totaled $6.71 million, or $2.07 per share. This compares with $6.02 million, or $1.87 per share, last year. C&F Financial Corp. earnings at a glance (GAAP) : -Earnings: $6.71 Mln. vs. $6.02 Mln. last year. -EPS: $2.07 vs. $1.87 last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Jeff Bezos’s Amazon MGM Studios is to release its feature-length documentary about Melania Trump, directed by Brett Ratner, a formerly exiled film-maker accused of sexual misconduct by multiple women. The film was screened at a promotional event at the White House attended by what the Hollywood reporter described as '70 assorted VIPs', including Amazon’s Andy Jassy, Apple’s Tim Cook and Mike Tyson...
Jeff Bezos’s Amazon MGM Studios is to release its feature-length documentary about Melania Trump, directed by Brett Ratner, a formerly exiled film-maker accused of sexual misconduct by multiple women. The film was screened at a promotional event at the White House attended by what the Hollywood reporter described as '70 assorted VIPs', including Amazon’s Andy Jassy, Apple’s Tim Cook and Mike Tyson. Bezos bought the rights to the film for $40m (£30m) and spent a further $35m on a global marketing push – but so far, ticket sales are reportedly ‘soft’. It is expected to be screened in more than 100 UK cinemas Continue reading...
Key Points SoundHound's top line is surging as it tackles the opportunity in voice-based generative artificial intelligence. Despite solid momentum, SoundHound struggles with cash burn and an acquisition-reliant growth strategy. 10 stocks we like better than SoundHound AI › Sometimes, stocks that were previously popular fall out of favor, prompting deal-hungry investors to take a closer look. With...
Key Points SoundHound's top line is surging as it tackles the opportunity in voice-based generative artificial intelligence. Despite solid momentum, SoundHound struggles with cash burn and an acquisition-reliant growth strategy. 10 stocks we like better than SoundHound AI › Sometimes, stocks that were previously popular fall out of favor, prompting deal-hungry investors to take a closer look. With shares down by 34% over the last 12 months, Soundhound AI (NASDAQ: SOUN) certainly fits into the category. Shares in the company, which provides voice recognition technology powered by artificial intelligence (AI), soared in early 2024 after filings showed that the industry-leading chipmaker Nvidia owned a stake, only to fall back down to earth when the hype faded and the market realized that Nvidia had sold its position. 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 » In the future, SoundHound's performance will likely depend on its actual fundamentals. Investors will be curious to know if it can maintain its above-average growth, establish a moat against competition, and -- most importantly -- demonstrate a pathway to sustainable profitability. Let's dig deeper to see what the next five years might have in store. A natural synergy between technologies Automated speech-recognition software has been around for a while now. We are all familiar with Apple's digital assistant Siri, which came out in 2011, as well as those interactive voice response (IVR) systems used (somewhat frustratingly) for customer service. AI large language models (LLMs) fix the limitations of these older technologies by allowing them to actually interact with the user in a more useful and humanlike way. The combination of speech recognition with LLMs will be key to bringing AI into some of its most exciting uses over the long term, such as humanoid robots. However, for now, SoundHound is tackling the opportunity's l...
Person In Critical Condition After Border Patrol-Involved Shooting In Arizona A person is in critical condition following a shooting incident early Tuesday morning in Pima County, Arizona. Photo via KVOA Emergency responders from the Santa Rita Fire District (SRFD) and American Medical Response arrived on the scene around 7:30 a.m., where they found one individual in custody who was in critical co...
Person In Critical Condition After Border Patrol-Involved Shooting In Arizona A person is in critical condition following a shooting incident early Tuesday morning in Pima County, Arizona. Photo via KVOA Emergency responders from the Santa Rita Fire District (SRFD) and American Medical Response arrived on the scene around 7:30 a.m., where they found one individual in custody who was in critical condition, KVOA reports. First responders provided immediate medical care before the patient was transferred to a local medical helicopter, which took the person to a regional trauma center. The Pima County Sheriff's Department and the FBI are assisting in the investigation. Stay tuned for updates... Tyler Durden Tue, 01/27/2026 - 13:48
Maria Vonotna/iStock via Getty Images Fund performance The Fund rose by 4.95% over the quarter, outpacing the benchmark by 16 basis points. The AI-driven rally lifted several of our tech holdings. In Taiwan, semiconductor chip testing manufacturer Chroma ATE rallied on expectations that the company will continue to benefit from accelerating demand for its products and services, with improving prof...
Maria Vonotna/iStock via Getty Images Fund performance The Fund rose by 4.95% over the quarter, outpacing the benchmark by 16 basis points. The AI-driven rally lifted several of our tech holdings. In Taiwan, semiconductor chip testing manufacturer Chroma ATE rallied on expectations that the company will continue to benefit from accelerating demand for its products and services, with improving profit margins supported by strong pricing power. ASE Technology, the world’s largest pure- play semiconductor assembly and test service provider, also fared well, buoyed by rising demand for AI applications. Similarly in South Korea, memory chip producers Samsung Electronics and SK Hynix were major contributors at the stock level. On the flip side, Chinese stocks sold off as investors took profit amid softer domestic growth and the underwhelming government response. Consumer-related stock Tencent came under pressure, despite its robust prospects, though the relatively light exposure to Alibaba proved constructive. Anta Sports, an apparel and sportswear provider, retreated on the back of lower-than-expected sales growth, partially attributed to warmer weather which dampened seasonal demand for autumn/winter clothing lines. Video game developer NetEase also underperformed amid a decline in mobile game revenues, though its overseas business showed encouraging momentum. Separately, Sands China, an operator of casino and hotel resorts in Macau, was weighed down by weaker-than-expected gaming revenue growth in December, following a strong recovery in growth earlier in the year. Cumulative and annualized total return as of December 31, 2025 (%) Fund (NAV) Market Price Benchmark 10 Years (p.a.) 8.84 8.81 8.89 5 Years (p.a.) 6.28 6.22 8.85 3 Years (p.a.) 19.99 19.88 19.04 1 Year 38.14 37.77 33.57 Year to Date 38.14 37.77 33.57 3 months 4.37 3.88 4.73 1 month 2.94 2.30 2.99 Click to enlarge Benchmark: MSCI Emerging Markets Index (Net TR) from February 29, 2024. MSCI All Country World In...
gazanfer/iStock via Getty Images It has been a long, winding trip through the wilderness for investors in international equities. To visualize this journey consider the price action of the iShares International Select Dividend ETF ( IDV ). Since topping shortly after its debut in 2007, the price dropped massively during the 2008 financial crisis and has not yet recovered, although the total return...
gazanfer/iStock via Getty Images It has been a long, winding trip through the wilderness for investors in international equities. To visualize this journey consider the price action of the iShares International Select Dividend ETF ( IDV ). Since topping shortly after its debut in 2007, the price dropped massively during the 2008 financial crisis and has not yet recovered, although the total return with dividends reinvested since inception is positive at 4.47% annualized. On a price basis, shares closed at a maximum daily closing price of $41/share on June 19th 2014. Thus, the early days of 2026 represent a breakout from a 17 year trading range (2009-2026). Despite the massive surge, IDV is still very cheap relative to the S&P 500 ( SPY ), on the basis of price/book and price/earnings. Data by YCharts Despite its preeminent status today, the US stock market has traversed through the wilderness as well. In 1966 the Dow Jones Industrial Average ( DIA ) peaked around 995. From there, it failed to establish new all-time highs until 1982, a period of 16 years. The bottom in the early 1980's was marked by persistently high inflation, which depressed the earnings power of stocks in the index. The Dow Jones Industrial Average 1949 through 1986 (macrotrends.net) Furthermore, 1982 represented a psychological turning point for US stocks that was marked by: Deep Pessimism: Business Week famously declared the "Death of Equities" on a 1979 cover. Finally, in 1982 equities began a huge rally, but few noticed. Low Valuations: The S&P 500 ( SPY ) bottomed in 1979 at a P/E of around 7x and a price/book of 0.9x in 1982. Economic Malaise: Inflation surged in the 1970s with Paul Volcker finally breaking the curse of inflation by hiking the Fed Funds Rate to nearly 20%. In 1982 rates finally fell, fueling the equity rally. Geopolitical and Monetary Shifts: In 1971 with the end of the gold standard in the US, a shift began toward the US dollar's global dominance as the world's reserve curr...
John M. Chase Corning's ( GLW ) $6B deal with Meta ( META ) to supply optical fiber to the latter's data centers should boost Corning's optical business significantly, Morgan Stanley said. Corning shares surged more than 16% on the back of the deal, ahead of the company's fourth-quarter results, set to be released tomorrow. “[We] were expecting there could be upward stock movement if there were to...
John M. Chase Corning's ( GLW ) $6B deal with Meta ( META ) to supply optical fiber to the latter's data centers should boost Corning's optical business significantly, Morgan Stanley said. Corning shares surged more than 16% on the back of the deal, ahead of the company's fourth-quarter results, set to be released tomorrow. “[We] were expecting there could be upward stock movement if there were to be news announcements ahead of earnings,” Morgan Stanley analyst Meta Marshall wrote in a note to clients. “While we thought an announcement could be more definitive on timing of scale-up investment, Corning's $6B agreement with Meta through 2030 for optical fiber, cable, and connectivity is of significant size for all potential markets (scale-up, - out, -across, but view as primarily scale-out).” Marshall, who has an Equal-Weight rating and $98 price target on Corning, said that as concerns about power continue to rise, fiber getting closer to compute becomes paramount, with optical fiber solving the density and scale demands. Additionally, Marshall said that the company's optical business (which accounts for roughly 40% of overall revenue) is only poised to get bigger with this deal. “Corning mentioned that Meta is currently not Corning's largest AI customer, but Meta will become the largest AI customer with this deal,” she wrote. “While we had not been expecting a raise to Project Springboard targets on Q4 earnings tomorrow, with the 30% enterprise Optical 23-27 CAGR staying in place given supply limitations, we now see more of an opportunity for the target to be raised to incorporate [the] META agreement.” More on Corning, Meta Meta: The Moneymaker Without Strong AI Capitalization Meta Pre-Earnings: Capex Fears Equal Buying Opportunity Meta's Q4 Setup: Strong Signals Across The Board Corning Q4 2025 Earnings Preview Meta Q4 Earnings Preview: Capital Expenditure and AI Growth in focus
March ICE NY cocoa (CCH26) today is up +68 (+1.56%), and March ICE London cocoa #7 (CAH26) is up +5 (+0.16%). Cocoa prices are moving higher today as a plunge in the dollar index (DXY00) to a 4.25-month low has sparked short covering in cocoa futures. However, gains in London cocoa are muted after the British pound (^GBPUSD) rallied to a 4.25-year high today. The stronger pound weighs on cocoa pri...
March ICE NY cocoa (CCH26) today is up +68 (+1.56%), and March ICE London cocoa #7 (CAH26) is up +5 (+0.16%). Cocoa prices are moving higher today as a plunge in the dollar index (DXY00) to a 4.25-month low has sparked short covering in cocoa futures. However, gains in London cocoa are muted after the British pound (^GBPUSD) rallied to a 4.25-year high today. The stronger pound weighs on cocoa priced in sterling terms. Don’t Miss a Day: Also, West African producers are holding back supplies due to low prices. Monday's cumulative data showed that Ivory Coast farmers shipped 1.20 MMT of cocoa to ports in the current marketing year (October 1, 2025, through January 25, 2026), down -3.2% from 1.24 MMT in the same period a year ago. The Ivory Coast is the world's largest cocoa producer. Last Friday, NY cocoa sank to a 2-year nearest-futures low, and London cocoa plunged to a 2.25-year nearest-futures low amid abundant supplies and falling demand. The International Cocoa Organization (ICCO) reported last Friday that 2024/25 global cocoa stocks rose +4.2% y/y to 1.1 MMT. Demand concerns have recently hammered cocoa prices as consumers continue to balk at the high price of chocolate. On Wednesday, Barry Callebaut AG, the world's largest bulk chocolate maker, reported a -22% decline in sales volume in its cocoa division for the quarter ending November 30, citing "negative market demand and a prioritization of volume toward higher-return segments within cocoa." Grinding reports also showed weak demand. On December 15, the European Cocoa Association reported that Q4 European cocoa grindings fell -8.3% y/y to 304,470 MT, a bigger decline than expectations of -2.9% y/y and the lowest for a Q4 in 12 years. On December 16, the Cocoa Association of Asia reported that Q4 Asian cocoa grindings fell -4.8% y/y to 197,022 MT. Also, the National Confectioners Association reported Q4 North American cocoa grindings rose only +0.3% y/y to 103,117 MT. Favorable growing conditions in West Afr...
Chayada Jeeratheepatanont/iStock via Getty Images Thesis Seeking Alpha CoStar Group ( CSGP ) rose after Dan Loeb’s Third Point launched a proxy challenge, arguing that years of unchecked residential spending, especially at Homes.com, have hidden the strength of CoStar’s highly profitable commercial real estate subscription business. After going over the details, I’m leaning bullish on the shares. ...
Chayada Jeeratheepatanont/iStock via Getty Images Thesis Seeking Alpha CoStar Group ( CSGP ) rose after Dan Loeb’s Third Point launched a proxy challenge, arguing that years of unchecked residential spending, especially at Homes.com, have hidden the strength of CoStar’s highly profitable commercial real estate subscription business. After going over the details, I’m leaning bullish on the shares. Ultimately, I think the core business is strong and profitable, and activist pressure raises the odds of better capital discipline and value creation. A Challenge to Unchecked Expansion Dan Loeb didn't get to where he is today by launching proxy fights merely for sport. When Third Point releases a public letter and proposes its own list of directors, it means the firm believes the company has real value that isn’t being realized because management is making poor decisions about how money is spent and invested. And that’s exactly the case they’re making here. In a nutshell, the message to the board was: stop expanding in too many directions, focus again on CRE, and explain why billions of dollars were spent on residential projects like Homes.com with very little to show for it. After years of heavy spending, the strategy became unfocused , and trust was damaged. Unfortunately, investors have been feeling it; momentum’s been abysmal. Seeking Alpha Of course, none of this should come as a big surprise. Last April, in Third Point’s first-quarter investment letter about CoStar, the firm said it sees CoStar as a top-tier real estate tech company. Third Point believes CoStar has a dominant share of its markets, a strong ability to raise prices, and a core business that has grown EBITDA by about 20% per year for the past ten years. Even at that time, they said heavy spending on Homes.com was hurting overall performance. They pointed out that “expanding losses at Homes.com have obscured rapid growth in the core business and reduced consolidated EBITDA by approximately 80%.” After di...
One of China’s largest mining companies has taken control of three gold mines in Brazil in a deal worth about US$1 billion, as gold prices hit historic highs amid rising economic and geopolitical uncertainty in the United States and a global flight to safe assets. CMOC said on Tuesday it assumed operational control on January 23 after Brazilian regulators approved the transfer of the Aurizona mine...
One of China’s largest mining companies has taken control of three gold mines in Brazil in a deal worth about US$1 billion, as gold prices hit historic highs amid rising economic and geopolitical uncertainty in the United States and a global flight to safe assets. CMOC said on Tuesday it assumed operational control on January 23 after Brazilian regulators approved the transfer of the Aurizona mine in Maranhao, the Riacho dos Machados mine in Minas Gerais and the Complexo Bahia, which includes the Fazenda and Santa Luz mines. “With the incorporation of gold operations into its Brazilian portfolio, CMOC advances its sustainable growth strategy, broadens the diversification of its businesses and strengthens its global presence,” the company said in a statement. Advertisement “The transaction enhances synergies with existing assets in the country and ... reinforces the company’s positioning in the global gold market, in alignment with corporate guidelines and its long-term sustainable growth strategy.” The acquisition was announced in late December , when CMOC confirmed it had reached an agreement with Equinox Gold Corp of Canada, marking its entry into Brazil’s gold sector and strengthening its presence in the country where it already runs niobium and fertiliser operations. CMOC is one of the world’s largest diversified mining groups. Photo: Handout Equinox stated that it would receive US$900 million in cash at closing and could receive up to US$115 million in additional payments around one year later depending on performance and other adjustments.
U.S. Federal Reserve Chair Jerome Powell holds a press conference after the Fed cut interest rates by quarter of a percentage point, in Washington, D.C., U.S., October 29, 2025. Kevin Lamarque | Reuters This week's Federal Reserve meeting offers little suspense and probably not much action, even as massive changes loom over the central bank's longer-term direction. Judging by market expectations a...
U.S. Federal Reserve Chair Jerome Powell holds a press conference after the Fed cut interest rates by quarter of a percentage point, in Washington, D.C., U.S., October 29, 2025. Kevin Lamarque | Reuters This week's Federal Reserve meeting offers little suspense and probably not much action, even as massive changes loom over the central bank's longer-term direction. Judging by market expectations and policymakers' comments , there's virtually no chance the Fed will change its benchmark interest rate when the meeting ends Wednesday. Despite a recent spate of disagreements among Federal Open Market Committee members about the longer-term trajectory of monetary policy, the near-term stance likely will be one of patience as a series of cuts made last year work their way through the economy. "Overall, the Fed just wants to stand pat. They feel they've got time to wait and see," former Fed Vice Chair Roger Ferguson said in a CNBC interview Monday. "This feels like a wait-and-see meeting, and we should all be listening to see if there's any hint or a bias towards a future action." watch now VIDEO 5:49 05:49 Expect a wait-and-see meeting from the Fed this week, says Roger Ferguson Squawk Box Indications of where the FOMC heads from here would come from the post-meeting policy statement as well as Chair Jerome Powell 's news conference afterward. Markets currently expect the Fed to cut once or twice this year — most likely in June and December, according to futures market pricing gauged by the CME Group's FedWatch tool. However, the focus most certainly will lie beyond the interest rate decision and future guidance and into an unprecedented web of intrigue that surrounds the meeting. Storm around Powell For one, President Donald Trump told CNBC last week that he may have narrowed down his search for Powell's replacement to a single candidate, a nomination that could be announced this week and perhaps even timed to coincide with the Fed rate decision. "If there is a single mos...
Some investors and tech industry analysts are worried about the possibility that the artificial intelligence (AI) industry is in a bubble. Major tech companies like Alphabet, Microsoft , and Meta Platforms are investing hundreds of billions of dollars to build data centers and infrastructure to support the AI software systems being developed. These highly profitable companies can afford to take so...
Some investors and tech industry analysts are worried about the possibility that the artificial intelligence (AI) industry is in a bubble. Major tech companies like Alphabet, Microsoft , and Meta Platforms are investing hundreds of billions of dollars to build data centers and infrastructure to support the AI software systems being developed. These highly profitable companies can afford to take some risks on AI investments, even if their buildouts don't pay off. But to see the full picture of a possible AI bubble, it helps to also look at smaller companies with business models that depend solely on selling AI services and solutions. BigBear.ai (NYSE: BBAI) offers AI solutions that help businesses and government agencies make real-time decisions based on advanced analytics, and it has been getting more attention from investors recently. So far in 2026, BigBear.ai stock is up 9.8%, and in the past year, it has gained 33.6%. For comparison, the S&P 500 index has gained 13.6% in the past 12 months and 1% year to date. But this AI stock has experienced some major volatility over the years, and it's still down by about about 38% from the price at which it went public in December 2021 via a reverse merger with a special purpose acquisition company (SPAC) . And it's still facing a few big risks that could lead to more share price declines. Continue reading
Earnings Call Insights: First Merchants Corporation (FRME) Q4 2025 Management View CEO Mark Hardwick opened the call highlighting record total assets of $19 billion, total loans of $13.8 billion, and total deposits of $15.3 billion. Hardwick stated, "For the full year, we delivered record net income of $224.1 million and record diluted earnings per share of $3.88, an increase of 13.8% from the pre...
Earnings Call Insights: First Merchants Corporation (FRME) Q4 2025 Management View CEO Mark Hardwick opened the call highlighting record total assets of $19 billion, total loans of $13.8 billion, and total deposits of $15.3 billion. Hardwick stated, "For the full year, we delivered record net income of $224.1 million and record diluted earnings per share of $3.88, an increase of 13.8% from the previous year." He emphasized the upcoming closing of the First Savings Group acquisition, which will add approximately $2.4 billion in assets and expand the company’s presence in Southern Indiana and the Louisville MSA. Hardwick confirmed, "We remain confident in our strategic and financial benefits of the merger, and we will actually close this weekend on February 1, 2026." President Michael Stewart described 2025 as "a year of momentum and record results," noting robust commercial loan growth and strong deposit increases. Stewart reported, "$153 million in commercial loan growth for the quarter or 6% annualized, $852 million of increased commercial loan balances year-to-date, nearly 7% growth rate for all 2025." CFO Michele Kawiecki noted, "Total revenues in Q4 were strong with meaningful growth in both net interest income of $5.4 million and noninterest income of $0.6 million. This resulted in overall pretax pre-provision earnings of $72.4 million, up $1.9 million from prior quarter." She also highlighted a 4% increase in tangible book value per share on a linked-quarter basis. Chief Credit Officer John Martin remarked, "We had strong loan growth for both the year and the quarter of 7.3% and 5.8%, respectively, led by C&I loans shown on line 4, which grew nearly $700 million for the year." Outlook Stewart indicated that loan pipelines remain consistent, and he expects mid-single-digit loan growth for the first quarter of 2026. Hardwick added, "When you think about 6%, 7%, 8% is more how we think about the plan and consistent with what we delivered this year." Kawiecki prov...
yalcinsonat1/iStock via Getty Images The well-documented supply shortage of memory due to data center demand, which is leading to price spikes, will likely affect Apple's ( AAPL ) iPhone gross margins in the short term. However, the Cupertino company plans to avoid increasing prices on its upcoming iPhone 18, according to TF International Securities analyst Ming-Chi Kuo. "Higher memory costs will ...
yalcinsonat1/iStock via Getty Images The well-documented supply shortage of memory due to data center demand, which is leading to price spikes, will likely affect Apple's ( AAPL ) iPhone gross margins in the short term. However, the Cupertino company plans to avoid increasing prices on its upcoming iPhone 18, according to TF International Securities analyst Ming-Chi Kuo. "Higher memory costs will hit iPhone gross margins," Kuo said in a post on X Tuesday. "But Apple's playbook is clear: use the market chaos to their advantage—secure the chips, absorb the costs, and grab more market share. They'll make it back later on the services side." Industry observers will closely monitor what Apple might reveal about the memory shortage in its first quarter fiscal 2026 financial report, which will be released post-market on Thursday. "What Apple says could actually shake up other industries' stocks more than Apple's own or its suppliers'," Kuo said. This is due to Apple's leverage in the supply chain and its ability to guarantee supply. "iPhone memory pricing is now negotiated quarterly instead of every six months, so expect another hike in 2Q26," Kuo said. "Right now, the 2Q26 QoQ increase looks similar to 1Q26." As of now, Apple plans to avoid increasing prices as much as possible when it releases the iPhone 18 series this fall, Kuo added. Still, the rampant AI server buildout might not only affect memory prices but other components as well. Jefferies estimates that memory prices jumped roughly 50% last quarter, reinforcing supplier leverage across the AI supply chain. More on Apple Apple: I Love The Valuation, But Not The Product Technology Path Apple: Q1 Results Could Trigger A Price Reversal, But Buy Regardless Wall Street Brunch: Megacaps And The Fed Reincubate sues Apple over alleged camera tech theft, antitrust violations - Reuters Anthropic asked Apple for 'several billion dollars' per year for Siri deal: report
(RTTNews) - The Switzerland market stayed positive on Wednesday save for a few minutes at the start and a very brief while around mid morning, as the undertone remained firm amid optimism about interest rate cuts by several central banks, including the Federal Reserve. The benchmark SMI ended up by 73 points or 0.6% at 12,333.93, after scaling a low of 12,208.58 and a high of 12,357.61 intraday. R...
(RTTNews) - The Switzerland market stayed positive on Wednesday save for a few minutes at the start and a very brief while around mid morning, as the undertone remained firm amid optimism about interest rate cuts by several central banks, including the Federal Reserve. The benchmark SMI ended up by 73 points or 0.6% at 12,333.93, after scaling a low of 12,208.58 and a high of 12,357.61 intraday. Roche Holding climbed about 5.8%. The company announced that a new weight-loss pill under development achieved positive results in an early stage clinical trial. Swatch Group gained nearly 2.5%, and Nestle ended 1.1% up. SIG Group and Straumann Holding ended higher by 0.82% and 0.61%, respectively. Swisscom ended modestly higher. VAT Group ended down 5.27%. Logitech International ended lower by 2.39%. Givaudan, Partners Group, Richemont, Julius Baer, Sonova, UBS Group, Kuehne + Nagel and ABB lost 1 to 1.8%. Lonza Group, SGS, Holcim and Swiss Re also closed weak. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Why Hightower's Stephanie Link is buying Starbucks: It's still in the very early stages of CEO Brian Niccol's turnaround. There are early signs the turnaround is working with North American same-store sales flat last quarter after six straight quarterly declines. Profitability potential: Niccol's initiatives could drive operating margins to the mid-teens from 9%. Many doubters: Majority of analyst...
Why Hightower's Stephanie Link is buying Starbucks: It's still in the very early stages of CEO Brian Niccol's turnaround. There are early signs the turnaround is working with North American same-store sales flat last quarter after six straight quarterly declines. Profitability potential: Niccol's initiatives could drive operating margins to the mid-teens from 9%. Many doubters: Majority of analysts on Wall Street are still skeptical so she likes the risk/reward. I like the turnaround story at Starbucks for 2026. They have very strong leadership under Brian Niccol, who was named CEO in September 2024, an announcement that initially boosted the stock. The shares have since come back to earth as investors and Wall Street skeptics grew impatient about the pace of his turnaround. But consider this, Chipotle shares eventually rallied more than eightfold under Niccol's tenure as Chipotle CEO from 2018 to 2024. Starbucks shares are finally starting to pick up with the stock gaining 14% so far in 2026. I think there's more to go. I first added shares of this stock after the October quarter results when I thought it looked like the growth strategy and the investment initiatives from Niccol were starting to work. We'll get an update from Niccol this week when Starbucks reports its fourth-quarter results Wednesday before the bell. An investor day will follow on Thursday where Niccol is likely to go into more detail on his two main growth initiatives: recreating coffeehouse culture and the "Green Apron Service" designed to accelerate order delivery. Wells Fargo estimates that Green Apron has led to service times of less than four minutes in 80% of U.S. co-operated stores. Turnaround starting to work For the third quarter, North America same-store sales came in at flat. That doesn't sound that good on the surface, but the prior six quarters had negative growth. We also saw better international results of 3% growth with sales in China up 2%. For the fourth-quarter, analysts believ...