1001slide/E+ via Getty Images The following segment was excerpted from the Maran Capital Management Q4 2025 Letter. As most of you know, we have a long history with Clarus Corp. ( CLAR ). We first invested in the company in late 2015, building a position in the $4-5 per share range. We added more over the years as the business grew but sold approximately 80% of our position in the summer of 2022 a...
1001slide/E+ via Getty Images The following segment was excerpted from the Maran Capital Management Q4 2025 Letter. As most of you know, we have a long history with Clarus Corp. ( CLAR ). We first invested in the company in late 2015, building a position in the $4-5 per share range. We added more over the years as the business grew but sold approximately 80% of our position in the summer of 2022 at around $26-27 per share (yes, hindsight is 20/20; we should have sold it all). We reacquired a large position over the last few years as the stock round-tripped. We started buying the stock back too soon but have averaged down. We currently own just under 5% of the company at an average cost of approximately $4 per share. Clarus’ results have been tepid following the Covid-era boom in outdoor activities, but it has still generated generally positive adjusted EBITDA over the last few years. While the results have been below what I—and the company—believe are possible for the brands, the stock market has taken these results and penalized the stock dramatically more than I think is reasonable. I thought the stock was cheap at $5 per share and at $4 per share, and I still certainly think it is in the $3s. Clarus ended 2025 at $3.35/sh. It has 38.4 million shares outstanding, so its market capitalization was approximately $130 million. I think Clarus ended the year with around $35-40 million of net cash on its balance sheet, so its enterprise value was approximately $90-95 million (the company has essentially no debt). What are shareholders getting for this price? Clarus’ two primary brands, Black Diamond Equipment (“BD”) and Rhino Rack (“Rhino”), which are generating around $175 million and $75 million of annual revenue, respectively. In other words, Clarus is trading for about 0.35x its annual revenue. I think these brands are worth at least 1x their revenue, if not substantially more. Even at 1x trailing revenue, Clarus would be valued at $7.50 per share. While trading at a...
Dassault Systèmes’ annual event dedicated to the SOLIDWORKS and 3DEXPERIENCE platform user communities to take place in Houston, Feb. 1-4 Guest speakers include Jensen Huang, founder and CEO of NVIDIA, hacker and inventor Pablos Holman, and the influencer Jay "Engineezy" Vogler Agenda to showcase the power of 3D UNIV+RSES and artificial intelligence pushing the boundaries of imagination VELIZY-VIL...
Dassault Systèmes’ annual event dedicated to the SOLIDWORKS and 3DEXPERIENCE platform user communities to take place in Houston, Feb. 1-4 Guest speakers include Jensen Huang, founder and CEO of NVIDIA, hacker and inventor Pablos Holman, and the influencer Jay "Engineezy" Vogler Agenda to showcase the power of 3D UNIV+RSES and artificial intelligence pushing the boundaries of imagination VELIZY-VILLACOUBLAY, France, January 29, 2026--(BUSINESS WIRE)--Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today announced 3DEXPERIENCE World taking place in Houston from Feb. 1-4. The annual event will gather thousands of SOLIDWORKS and 3DEXPERIENCE platform users around the future of design to manufacturing, exploring 3D UNIV+RSES and artificial intelligence at the core of creation and innovation. Guest speakers Jensen Huang - founder and CEO of NVIDIA, Pablos Holman - the renowned hacker and inventor with more than 6,000 patents, and Jay "Engineezy" Vogler - STEAM advocate and influencer, will kick off a rich agenda delving into the technologies enabling virtual environments that push the boundaries of imagination. One year after introducing 3D UNIV+RSES, Dassault Systèmes will showcase a holistic view of AI encompassing assistive, predictive and generative AI that plays an integral role in powering more efficient, sustainable and successful design, simulation, manufacturing and governance. Event highlights include:
As any local shop owner will tell you, running a brick-and-mortar business in the age of Amazon is an uphill battle. That’s a lesson that Amazon itself has just learned. The e-commerce giant said on Tuesday that it was closing its “Fresh” grocery stores as well as its automated grab-and-go “Go” shops, adding to its list of failed brick-and-mortar experiments. “While we’ve seen encouraging signals ...
As any local shop owner will tell you, running a brick-and-mortar business in the age of Amazon is an uphill battle. That’s a lesson that Amazon itself has just learned. The e-commerce giant said on Tuesday that it was closing its “Fresh” grocery stores as well as its automated grab-and-go “Go” shops, adding to its list of failed brick-and-mortar experiments. “While we’ve seen encouraging signals in our Amazon-branded physical grocery stores, we haven’t yet created a truly distinctive customer experience with the right economic model needed for large-scale expansion,” Amazon explained in a post on its website. The move came a day ahead of Amazon’s announcement on Wednesday of 16,000 corporate layoffs, including some related to the Go and Fresh closures. That was on top of 14,000 layoffs last year as part of Amazon CEO Andy Jassy’s campaign to rein in what he sees as creativity-stifling bureaucracy. The company is also shifting resources to building AI data centers. Amazon’s 550-store Whole Foods chain, which it bought in 2017, will remain open with plans to expand. But the brand’s 58 Amazon Fresh stores, launched in 2020 as smaller grocery stores focused on the mass market, never found their niche. Amazon’s Go convenience stores, launched in 2018 and a major priority for founder Jeff Bezos, allow consumers to avoid checkout lines thanks to an array of cameras and sensors that tracked each item a shopper picked from a shelf and automatically charged the customer for it when it left the store. But the dazzling tech was not enough to camouflage how blah the merchandise was. These failures had predecessors: In 2015, Amazon launched a small chain of bookstores that it closed a few years later. Other Amazon retail flops: Amazon 4-Star (a kitchen goods, toys and electronics store); electronics kiosks in shopping malls; and a short-lived Amazon clothing store chain called “Style” that it closed in 2023 after only two years. As Amazon showed the many retailers it has disrupt...
Highlights Amazon operates across commerce, cloud, and media ecosystems Platform scale aligns with nasdaq 100 composition discussions Services span consumer and enterprise technology needs Amazon.com, Inc. (NASDAQ:AMZN) is a diversified technology and retail company frequently referenced in broader market structure conversations connected with nasdaq 100 composition. The company operates a global ...
Highlights Amazon operates across commerce, cloud, and media ecosystems Platform scale aligns with nasdaq 100 composition discussions Services span consumer and enterprise technology needs Amazon.com, Inc. (NASDAQ:AMZN) is a diversified technology and retail company frequently referenced in broader market structure conversations connected with nasdaq 100 composition. The company operates a global e-commerce marketplace supported by logistics, digital services, and cloud infrastructure. Beyond online retail, Amazon has expanded into enterprise technology, media distribution, and subscription-based consumer services, positioning the company across multiple layers of the digital economy. How Does Amazon Operate Globally? Amazon operates across regions through integrated retail, technology, and logistics networks that support both consumer and enterprise activity. Its operational footprint is often discussed alongside nasdaq futures, reflecting how large-scale technology platforms influence broader market dynamics. Amazon’s structure combines physical fulfillment capabilities with digital platforms that enable product discovery, delivery coordination, and service access across geographies. Why Is Amazon Marketplace Central? Amazon’s marketplace is central to its operations, functioning as a digital platform where third-party and consumers interact. The marketplace model supports product listings, payment processing, and fulfillment coordination. In conversations linked with nasdaq today, Amazon is commonly referenced as an example of how digital platforms shape real-time commerce activity. The marketplace integrates technology and logistics to support high-volume transactional environments. What Drives Amazon Cloud Services? Amazon Web Services provides on-demand computing, storage, and digital infrastructure to organizations across industries. AWS supports enterprise systems, public-sector platforms, and developer environments. Within discussions referencing nasdaq com...
HTML code to embed chart Can I integrate infographics into my blog or website? Yes, Statista allows the easy integration of many infographics on other websites. Simply copy the HTML code that is shown for the relevant statistic in order to integrate it. Our standard is 660 pixels, but you can customize how the statistic is displayed to suit your site by setting the width and the display size. Plea...
HTML code to embed chart Can I integrate infographics into my blog or website? Yes, Statista allows the easy integration of many infographics on other websites. Simply copy the HTML code that is shown for the relevant statistic in order to integrate it. Our standard is 660 pixels, but you can customize how the statistic is displayed to suit your site by setting the width and the display size. Please note that the code must be integrated into the HTML code (not only the text) for WordPress pages and other CMS sites.
The company is ditching some of its EV models as it doubles down on robots, AI, energy, and self-driving. For years, Elon Musk has insisted Tesla isn’t really a carmaker. Slowly but surely, that statement is getting more accurate. On Wednesday, the Texas-based company posted its first-ever annual revenue decline, with 2025 revenue falling 3% to $94.8 billion. Behind the drop was a 10% dip in autom...
The company is ditching some of its EV models as it doubles down on robots, AI, energy, and self-driving. For years, Elon Musk has insisted Tesla isn’t really a carmaker. Slowly but surely, that statement is getting more accurate. On Wednesday, the Texas-based company posted its first-ever annual revenue decline, with 2025 revenue falling 3% to $94.8 billion. Behind the drop was a 10% dip in automotive revenue, as weaker EV demand pushed vehicle deliveries and average selling prices lower. What helped cushion a bigger blow was Tesla’s Energy Generation and Storage segment, which sells solar gear and large batteries used to generate and store electricity for homes, EVs, businesses, and the power grid. Sherwood news A fast-growing part of Tesla, the Energy segment generated nearly $13 billion in revenue last year, up 27% from 2024, and now accounts for around 13% of the company’s total — more than double its share from just two years ago. Still, Automotive makes up nearly three-quarters (73%) of Tesla’s business. And Musk would like that share to be replaced by sales from robots. On Wednesday, Musk said Tesla will wind down production of its two priciest EV models next quarter, converting that factory space to produce Optimus, its humanoid robot — though it won’t be commercially available until late 2027. Meanwhile, Tesla’s Robotaxi service — launched last year in Austin and the Bay Area — is set to expand to additional cities and ultimately be supported by Cybercabs. Musk also hopes that selling its Full Self-Driving software to Tesla car owners, a product that’s becoming subscription-only, will boost its fortunes further. Reports even surfaced this week that Musk’s rocket company, SpaceX, is actually considering a merger with Tesla or xAI. All of this reinvention, of course, comes at a cost. Tesla’s operating income fell 38% from a year earlier, and the company’s capital expenditure is set to soar this year — joining a raft of other tech companies that are splurging...
The San Diego, California-based Qualcomm Incorporated (QCOM) has entered 2026 as a diversified artificial intelligence (AI) semiconductor player and not just a handset company. It develops and commercializes wireless technologies such as 3G/4G/5G connectivity, high-performance low-power computing, and on-device AI. Commanding a market cap of approximately $163.5 billion, it supplies semiconductors...
The San Diego, California-based Qualcomm Incorporated (QCOM) has entered 2026 as a diversified artificial intelligence (AI) semiconductor player and not just a handset company. It develops and commercializes wireless technologies such as 3G/4G/5G connectivity, high-performance low-power computing, and on-device AI. Commanding a market cap of approximately $163.5 billion, it supplies semiconductors and software for mobile devices, automotive systems, Internet of Things (IoT), consumer electronics, industrial uses, and edge networking, alongside licensing essential wireless patents. More News from Barchart Despite the diversified foundation, QCOM's stock performance has remained under pressure. Over the past 52 weeks, Qualcomm’s shares declined 11%, materially underperforming the S&P 500 Index ($SPX), which gained 15% during the same period. The gap persists on a year-to-date (YTD) basis as well. QCOM stock has fallen 10.7% in 2026, while the S&P 500 has gained 1.9%. Within the technology sector, the relative underperformance becomes even more pronounced. Qualcomm has trailed the State Street Technology Select Sector SPDR ETF (XLK), which surged 27.7% over the past year and added another 3.7% this year. www.barchart.com Sentiment briefly improved on Nov. 5, 2025, when QCOM shares climbed roughly 4% following the release of fourth-quarter 2025 earnings. Revenue rose 10% year over year to $11.27 billion, surpassing analyst estimates of $10.79 billion, while non-GAAP EPS climbed 11.5% to $3, decisively topping the Street’s $2.88 expectation. Building on this momentum, management has highlighted AI as Qualcomm’s most compelling growth opportunity. The company plans to launch AI accelerator chips, including the AI200 in 2026 and the AI250, both scalable to a full liquid-cooled server rack. Reflecting this confidence, the management expects Q1 fiscal 2026 revenue of $11.8–$12.6 billion and non-GAAP EPS of $3.30–$3.50. Looking further ahead, analysts forecast a more measured...
Tesla TSLA reported fourth-quarter 2025 earnings per share of 50 cents, which beat the Zacks Consensus Estimate of 45 cents but decreased from the year-ago figure of 73 cents. Total revenues of $24.9 billion missed the Zacks Consensus Estimate of $25.14 billion and declined 3% year over year. Tesla, Inc. Price, Consensus and EPS Surprise Tesla, Inc. Price, Consensus and EPS Surprise Tesla, Inc. pr...
Tesla TSLA reported fourth-quarter 2025 earnings per share of 50 cents, which beat the Zacks Consensus Estimate of 45 cents but decreased from the year-ago figure of 73 cents. Total revenues of $24.9 billion missed the Zacks Consensus Estimate of $25.14 billion and declined 3% year over year. Tesla, Inc. Price, Consensus and EPS Surprise Tesla, Inc. Price, Consensus and EPS Surprise Tesla, Inc. price-consensus-eps-surprise-chart | Tesla, Inc. Quote Key Takeaways Tesla’s fourth-quarter production totaled 434,358 units (422,652 Model 3/Y and 11,706 other models), which declined 5% year over year and missed our estimate of 462,212 units. The company delivered 418,227 vehicles, which declined 16% year over year and fell short of our estimate of 448,384 units. The Model 3/Y registered deliveries of 406,585 vehicles, which declined 14% year over year and missed our expectation of 430,871 units. Total automotive revenues of $17.7 billion declined 11% year over year and missed our estimate of $19.3 billion. The reported figure also included $542 million (from the sale of regulatory credits for electric vehicles), which declined 21.7% year over year. Automotive sales, excluding revenues from leasing and regulatory credits, totaled $16.8 billion, which declined 10.2% and missed our projection of $18.5 billion on lower-than-expected deliveries. Automotive gross profit (excluding automotive leasing and regulatory credits) was $2.9 billion. Automotive gross margin was 17.2%, up from 12.8% reported in the fourth quarter of 2024. Tesla’s operating margin declined 50 basis points year over year to 5.7% in the quarter under review, but topped our estimate of 5.3%. Energy Generation and Storage revenues amounted to $3.84 billion, which rose 25% year over year and beat our estimate of $3.4 billion. Notably, energy storage deployments totaled 14.2 GWh. Services and Other revenues amounted to $3.4 billion, up 18% year over year. The figure matched our estimate. Tesla ended fourth-quarte...
Apple (AAPL) acquires AI audio technology company Q.ai for an alleged $2 billion Apple's acquisition of Q.ai would mark the second highest valued acquisition the former has ever made outside of the Beats audio brand. This week, several sources confirmed that Apple has moved to acquire Israeli artificial intelligence audio technology company Q.ai. The deal supposedly came out to a final tally of $2...
Apple (AAPL) acquires AI audio technology company Q.ai for an alleged $2 billion Apple's acquisition of Q.ai would mark the second highest valued acquisition the former has ever made outside of the Beats audio brand. This week, several sources confirmed that Apple has moved to acquire Israeli artificial intelligence audio technology company Q.ai. The deal supposedly came out to a final tally of $2 billion, which would make it the second most highly-valued acquisition Apple has taken part in, following the $3 billion the company spent to acquire the Beats audio brand. The details of the deal between Apple and Q.ai were reported via Financial Times, which first shared the $2 billion figure also independently confirmed by Reuters. As part of the deal, Q.ai’s founders will join Apple, including Yonatan Wexler, Avi Barliya, and CEO Aviad Maizels. Apple acquired Q.ai for the technology it was developing in artificially intelligent responses to facial movement, which may be utilized in Siri for non-verbal communication. Source: Apple It’s worth noting that this is the second company Apple has acquired that was founded by Maizels. The CEO previously founded PrimeSense, which was acquired by Apple in 2013, who initially developed the Kinect system for the Xbox 360. Apple would eventually develop Face ID with PrimeSense’s help. Meanwhile, Q.ai has filed patents for systems in headphones and glasses that would read facial “micro movements to communicate without talking." Apple reportedly believes the technology could lead to a breakthrough in non-verbal discussion with its Siri system. With Apple acquiring Q.ai for a pretty penny, it will be interesting to see what kind of benefits come from it for the two companies. Stay tuned to the Apple topic for the latest updates.