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New World Development (NWD), the embattled Hong Kong property developer, said late on Thursday that its parent, Chow Tai Fook Enterprises (CTFE), has been approached by potential investors after reports that CTFE may sell part of its stake to Blackstone. Bloomberg reported early that Blackstone – the world’s biggest asset manager – was in discussion to become the single largest shareholder of NWD,...
New World Development (NWD), the embattled Hong Kong property developer, said late on Thursday that its parent, Chow Tai Fook Enterprises (CTFE), has been approached by potential investors after reports that CTFE may sell part of its stake to Blackstone. Bloomberg reported early that Blackstone – the world’s biggest asset manager – was in discussion to become the single largest shareholder of NWD, citing people familiar with the matter. Under the proposed arrangement, the US alternative asset manager would lead a restructuring of NWD, with the developer selling assets to improve liquidity. The size of Blackstone’s potential stake was not disclosed, the report said. Advertisement In a late-night filing to the Hong Kong stock exchange, NWD said it was aware of media speculation about potential new investors and had made inquiries with CTFE, which confirmed it had been approached by several parties. Blackstone in the frame: reports say the asset manager has approached CTFE for a stake sale. Photo: Reuters No agreements had been reached and there was no certainty that any transaction would proceed, the company said.
Galeanu Mihai/iStock via Getty Images The Federal Reserve left interest rates unchanged yesterday, as expected, but the challenges are increasing for identifying the right monetary policy for the path ahead. It’s tempting to think otherwise after reading the Fed statement issued on Wednesday: “Available indicators suggest that economic activity has been expanding at a solid pace. Job gains have re...
Galeanu Mihai/iStock via Getty Images The Federal Reserve left interest rates unchanged yesterday, as expected, but the challenges are increasing for identifying the right monetary policy for the path ahead. It’s tempting to think otherwise after reading the Fed statement issued on Wednesday: “Available indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has shown some signs of stabilization. Inflation remains somewhat elevated.” Hardly ideal, but good enough to leave the Fed’s target rate steady at a 3.5% to 3.75% and argue that the central bank’s policy matches an economy that’s stabilized and growing. But the risks of a policy mistake may be growing. The bad news is that it’s not obvious what type of mistake is lurking as it continues to juggle the threat of inflation against a softer labor market. For now, the Fed still seems to be betting that the recently stalled moderation of inflation will resume a downward path in the months ahead, paving the way for more rate cuts. Running the latest Fed statement through an AI program (with access to the historical economic data and analysis) suggests a bias for more cuts in the year ahead, per the chart below. The Fed funds futures market is more cautious on the outlook, but sentiment is pricing in a resumption of rate cuts starting in June. The policy-sensitive US 2-year yield ( US2Y ) is cautiously on board with a dovish policy path… maybe. This yield, which is widely followed as a proxy for policy expectations, ticked lower again yesterday, dipping to 3.58%, or close to the lower range of the Fed’s target rate. The core of the case for favoring more rate cuts is, as the Fed statement termed it, “low” job gains of late. The tricky part is that while hiring has slowed, layoffs have remained low and “the unemployment rate has shown some signs of stabilization,” the FOMC statement notes. In other words, current conditions leave room for debat...
Earnings Call Insights: Washington Trust Bancorp, Inc. (WASH) Q4 2025 Management View CEO Edward Handy reported "continued earnings momentum and improving profitability" for the quarter, driven by "margin expansion, continued in-market deposit growth and increased revenues from wealth management." Handy noted targeted investments in Wealth Management and Commercial Banking, including the acquisiti...
Earnings Call Insights: Washington Trust Bancorp, Inc. (WASH) Q4 2025 Management View CEO Edward Handy reported "continued earnings momentum and improving profitability" for the quarter, driven by "margin expansion, continued in-market deposit growth and increased revenues from wealth management." Handy noted targeted investments in Wealth Management and Commercial Banking, including the acquisition of assets from Lighthouse Financial Management and the hiring of a new Chief Commercial Banking Officer, Jim Brown. Handy announced the onboarding of an institutional banking team focused on education, health care, and nonprofit sectors in the Northeast, stating this would bring "high-quality C&I loans and strong deposit opportunities." He also highlighted a planned de novo branch opening in Pawtucket, Rhode Island, for later in 2026 to expand presence in a fast-growing area. CFO Ronald Ohsberg stated, "In the fourth quarter, we reported net income of $16 million or $0.83 per share compared to $10.8 million or $0.56 per share for the preceding quarter." Ohsberg added, "Net interest income was $40.7 million, up by 5% from Q3 and 24% year-over-year. The margin was 2.56%, up by 16 basis points and up by 61 basis points year-over-year. A better funding mix with higher in-market deposits and lower wholesale funding as well as deposit rate management contributed to this improvement." Outlook CFO Ohsberg projected that, following a swap termination at the end of April, the margin is expected to "increase 9 basis points related to that item and another 4 basis points in the third quarter," leading to a "run rate benefit of 13 basis points that will be fully baked in, in the third quarter." He further projected "organic expansion" of "3 to 4 basis points per quarter," resulting in a Q4 estimate for 2026 of "2.78% to 2.82%." Ohsberg expects "4% to 5% growth in CRE" for the year and indicated, "The C&I team, we think, will grow at a rate faster than that," with total loan growth ta...
Earnings Call Insights: Allegro MicroSystems (ALGM) Q3 2026 Management View President and CEO Michael Doogue stated, "We continue to see positive momentum across the business, once again achieving growth in bookings and backlog to multi-quarter highs and securing significant design wins in our strategic focus areas led by ADAS, xEV and Data Center." He emphasized strong third quarter results, repo...
Earnings Call Insights: Allegro MicroSystems (ALGM) Q3 2026 Management View President and CEO Michael Doogue stated, "We continue to see positive momentum across the business, once again achieving growth in bookings and backlog to multi-quarter highs and securing significant design wins in our strategic focus areas led by ADAS, xEV and Data Center." He emphasized strong third quarter results, reporting "sales above the high end of our guidance range at $229 million and EPS above the midpoint of our guidance range at $0.15." Doogue highlighted that "E-Mobility led continued growth in third quarter automotive sales," driven by content gains and increased adoption of xEV and ADAS systems. He added, "This momentum is reflected in our third quarter automotive design wins where E-Mobility led the quarter, in ADAS, we secured key wins for position sensors and motor drivers and electronic power steering systems." In the industrial sector, Doogue stated, "sales growth was again led by data center, establishing a new quarterly record at 10% of sales, up 31% sequentially." Allegro also reported new design wins in robotics, with customer engagements indicating opportunities for high content in advanced humanoid robots. The company introduced a new current sensor IC that "cuts power-related losses by up to 90%, enabling new levels of power density in xEV and data center applications." Doogue also noted the release of Allegro's first isolated gate driver IC for silicon carbide transistors, broadening the company's portfolio in both automotive and industrial markets. Executive VP and CFO Derek D'Antilio reported, "Net sales were $229 million and non-GAAP earnings per share were $0.15. As a percentage of sales, gross margin was 49.9%, operating margin was 15.4% and adjusted EBITDA was 20.1% of sales." D'Antilio stated, "Total Q3 sales increased by 7% sequentially and 29% year-over-year." Outlook D'Antilio provided guidance for Q4 2026: "We expect fourth quarter sales to be in the r...
Earnings Call Insights: Eagle Materials Inc. (EXP) Q3 2026 Management View CEO Michael Haack stated that "despite the mixed construction environment, our businesses continue to perform well," reporting $556 million in revenue, $3.22 earnings per share, and a gross profit margin of 28.9%. Haack emphasized that the company will "control what is in our control and adjust to current market conditions ...
Earnings Call Insights: Eagle Materials Inc. (EXP) Q3 2026 Management View CEO Michael Haack stated that "despite the mixed construction environment, our businesses continue to perform well," reporting $556 million in revenue, $3.22 earnings per share, and a gross profit margin of 28.9%. Haack emphasized that the company will "control what is in our control and adjust to current market conditions to maximize profitability in both the short and long term." Haack highlighted several operational initiatives: "We advanced several initiatives that convert our waste streams into revenue streams to help further improve our low-cost producer position" and noted progress on major projects: "We made good progress on both projects during the quarter, which means that our Laramie, Wyoming Cement plant should be going through its commissioning late this calendar year, followed by our Duke, Oklahoma commissioning in the second half of calendar 2027." Haack also announced, "we strengthened our already solid financial position, issuing $750 million in 10-year senior notes, aligning our capital structure with our ongoing investments at the Laramie, Wyoming Cement plant and Duke, Oklahoma Wallboard plant." CFO D. Kesler reported, "Third quarter revenue was $556 million, down slightly from the prior year. The decrease reflects lower wallboard and paperboard sales volume, partially offset by higher cement sales volume and the contribution from the recently acquired Aggregates business." Kesler continued, "Aggregate sales volume was up 81% to a record 1.6 million tons, reflecting a 34% increase in organic aggregates sales volume and the contribution from the recently acquired Aggregates business." Outlook Management expects total capital spending in fiscal 2026 to be in the range of $430 million to $450 million, primarily associated with the modernization and expansion of the Mountain Cement plant in Laramie, Wyoming, and the Duke, Oklahoma Wallboard plant. Haack indicated, "as discusse...
TomasSereda/iStock Editorial via Getty Images Thesis I rate UP Fintech Holdings (NASDAQ: TIGR ), also known as 'Tiger Brokers', as a Buy, expecting a 57% upside over the next 12 months, in my base case. This thesis rests on four pillars. First, it is undervalued; its Fwd P/E ratio stands at 8.9x while the industry's median is 18x. Second, despite some uncertainty and high volatility in trading vol...
TomasSereda/iStock Editorial via Getty Images Thesis I rate UP Fintech Holdings (NASDAQ: TIGR ), also known as 'Tiger Brokers', as a Buy, expecting a 57% upside over the next 12 months, in my base case. This thesis rests on four pillars. First, it is undervalued; its Fwd P/E ratio stands at 8.9x while the industry's median is 18x. Second, despite some uncertainty and high volatility in trading volume, the company is growing in both revenues and earnings. Third, it is gaining market share in several countries, which allows it to reduce the mainland Chinese risk. Fourth, its margins are expanding fast; for instance, the net margin jumped from 11% to 31% in just 12 months. Company Overview Up Fintech is the parent company of 'Tiger Brokers', which is a Singapore-headquartered global brokerage company. In August 2025, they had 2.58MM accounts and 1.19MM funded accounts worldwide. Their US platform is called TradeUP . Regarding the US, there are two things that caught my attention. First, the US share of revenues went from 12% of total revenues in 2022 to 32% in just 2 years. Second, in Q4 2024, it was growing at 73% Y/Y. This means (at first glance) they're gaining market share in the US, and it is set to become the main region of revenues. By Author | 20-F filings Another thing to keep an eye on is that while total revenue grew 44% Y/Y in Q4 2024, now they're growing at 73% Y/Y. Also, when accounting for the reduction of interest expense, it results in total net revenue growing at 80% Y/Y, and 26% Q/Q, which, annualized, is 152% Y/Y (1.26^4 =2.52). This indicates an acceleration in growth rates as of now. By Author | SEC filings Now, at operational metrics, growth rates are more modest. Customer accounts grew only 11%, while the 'stock trading volume' and the 'option and futures contracts volume' grew 77% and 68%, respectively. This clearly indicates that these high revenue growth rates come from existing clients. In other words, their strategy is to maximize customer ...
Arkadiusz Warguła/iStock via Getty Images Amneal Pharmaceuticals ( AMRX ) disclosed that its previously announced agreement to settle a majority of opioid-related claims against the company will take effect on Thursday, allowing claimants to receive up to $267M in cash and overdose treatments. Under the Nationwide Opioids Settlement Agreement, the participating states and other jurisdictions can r...
Arkadiusz Warguła/iStock via Getty Images Amneal Pharmaceuticals ( AMRX ) disclosed that its previously announced agreement to settle a majority of opioid-related claims against the company will take effect on Thursday, allowing claimants to receive up to $267M in cash and overdose treatments. Under the Nationwide Opioids Settlement Agreement, the participating states and other jurisdictions can receive $88.5M in cash and up to $177.4M worth of opioid overdose therapy naloxone nasal spray. The ten-year agreement also permits litigants to receive 25% of the naloxone nasal spray’s value as cash payments (subject to a maximum of $44.4M) instead of the product during the last four years of the decade-long payment term. Based on the latter clause, the total cash payments due from the company can reach up to $132.9M under the agreement, Amneal ( AMRX ) said in a regulatory filing on Wednesday. More on Amneal Pharmaceuticals Amneal Pharmaceuticals, Inc. (AMRX) Presents at 44th Annual J.P. Morgan Healthcare Conference - Slideshow Amneal Pharmaceuticals, Inc. (AMRX) Presents at 44th Annual J.P. Morgan Healthcare Conference Transcript Amneal: Growing Drug Portfolio, Positive Cash Flow, Outweighing Leverage Risks TTM Technologies, Dutch Bros to join S&P 400 Index; Amneal, Apellis to be part of S&P SmallCap 600 Teva seeks removal of over 200 patents from FDA Orange Book after FTC challenge
The artificial intelligence (AI) boom isn’t being slowed by chips, software, or demand. It’s being slowed by something far more basic: a thirst for water. In this Market on Close clip , Barchart’s Senior Market Strategist John Rowland, CMT, explains why the next phase of AI infrastructure investing won’t be about who builds the fastest model — but who can actually get data centers approved, cooled...
The artificial intelligence (AI) boom isn’t being slowed by chips, software, or demand. It’s being slowed by something far more basic: a thirst for water. In this Market on Close clip , Barchart’s Senior Market Strategist John Rowland, CMT, explains why the next phase of AI infrastructure investing won’t be about who builds the fastest model — but who can actually get data centers approved, cooled, and sustained in the real world. That’s where water and waste management quietly move from “boring utilities” to critical AI infrastructure. The Problem Big Tech Didn’t Price In As AI data centers expand, local communities are pushing back. The NIMBY (“Not In My Backyard”) movement has become a real obstacle, with concerns around water usage, environmental impact, and long-term strain on local infrastructure. Microsoft (MSFT) acknowledged this reality earlier this month, publicly committing to being a “better partner” to communities. That includes responsible water usage, infrastructure investment, and direct financial support to gain approval for new builds. This matters because AI data centers cannot operate without massive water usage for cooling. The chips may be ready — but without water access, the projects stop. Why This Shifts the Investment Opportunity Rather than chasing mega-cap tech or broad indexes, John’s approach focuses on who benefits from this forced spending. Instead of buying a generic water utility, the focus is on companies whose revenue growth is tied directly to filtration, recycling, and waste systems — the equipment data centers actually need to operate under tighter community and environmental scrutiny. This is the “picks and shovels” framework applied to AI infrastructure. 1 Etf with Diversified Exposure to the Theme One investment John highlighted to express this theme is the First Trust Water ETF (FIW). FIW isn’t a local water distributor ETF. Its holdings focus on companies involved in water treatment, filtration, recycling, and waste manage...
Intel's (INTC) CFO just put his money where his mouth is. Now investors are asking if they should follow his lead. David Zinsner purchased 5,882 shares of Intel at $42.50 each on Jan. 26, just days after the chipmaker's earnings report sent the stock tumbling. The timing is notable. INTC stock had cratered 17% on Friday following weak guidance and warnings about supply constraints that spooked Wal...
Intel's (INTC) CFO just put his money where his mouth is. Now investors are asking if they should follow his lead. David Zinsner purchased 5,882 shares of Intel at $42.50 each on Jan. 26, just days after the chipmaker's earnings report sent the stock tumbling. The timing is notable. INTC stock had cratered 17% on Friday following weak guidance and warnings about supply constraints that spooked Wall Street. For a CFO to step in with his own cash right after such a selloff sends a message. But is it the right message for investors? The Case Zinsner Is Making Zinsner's buy came following fourth-quarter results that told two different stories. On one hand, Intel beat expectations with adjusted earnings of $0.15 per share versus the $0.08 analysts expected. Revenue of $13.7 billion also topped the $13.4 billion consensus. On the other hand, the guidance was ugly: Intel expects first-quarter revenue between $11.7 billion and $12.7 billion with breakeven earnings. Analysts had penciled in earnings of $0.05 per share and sales of $12.51 billion. That's a miss on both counts. The culprit? Supply constraints. CEO Lip-Bu Tan admitted during the earnings call that the company can't meet full demand for its products. Production yields are running below his targets, and Intel is scrambling to squeeze more output from its existing factories. "We are on a multiyear journey," Tan said. "It will take time and resolve." INTC stock got hammered, erasing gains built on hopes of a turnaround for the embattled American chipmaker. But Zinsner sees something different. His purchase suggests he believes the selloff overshot and that Intel's longer-term story remains intact. What Intel Is Building Toward The excitement around Intel centers on its foundry business, which makes chips for other companies. The chipmaker is betting billions that it can compete with Taiwan Semiconductor (TSM) and win back market share it's been bleeding for years. Intel's 18A manufacturing technology is the linchpi...
Intel's (INTC) CFO just put his money where his mouth is. Now investors are asking if they should follow his lead. David Zinsner purchased 5,882 shares of Intel at $42.50 each on Jan. 26, just days after the chipmaker's earnings report sent the stock tumbling. The timing is notable. INTC stock had cratered 17% on Friday following weak guidance and warnings about supply constraints that spooked Wal...
Intel's (INTC) CFO just put his money where his mouth is. Now investors are asking if they should follow his lead. David Zinsner purchased 5,882 shares of Intel at $42.50 each on Jan. 26, just days after the chipmaker's earnings report sent the stock tumbling. The timing is notable. INTC stock had cratered 17% on Friday following weak guidance and warnings about supply constraints that spooked Wall Street. For a CFO to step in with his own cash right after such a selloff sends a message. But is it the right message for investors? The Case Zinsner Is Making Zinsner's buy came following fourth-quarter results that told two different stories. On one hand, Intel beat expectations with adjusted earnings of $0.15 per share versus the $0.08 analysts expected. Revenue of $13.7 billion also topped the $13.4 billion consensus. On the other hand, the guidance was ugly: Intel expects first-quarter revenue between $11.7 billion and $12.7 billion with breakeven earnings. Analysts had penciled in earnings of $0.05 per share and sales of $12.51 billion. That's a miss on both counts. The culprit? Supply constraints. CEO Lip-Bu Tan admitted during the earnings call that the company can't meet full demand for its products. Production yields are running below his targets, and Intel is scrambling to squeeze more output from its existing factories. "We are on a multiyear journey," Tan said. "It will take time and resolve." INTC stock got hammered, erasing gains built on hopes of a turnaround for the embattled American chipmaker. But Zinsner sees something different. His purchase suggests he believes the selloff overshot and that Intel's longer-term story remains intact. What Intel Is Building Toward The excitement around Intel centers on its foundry business, which makes chips for other companies. The chipmaker is betting billions that it can compete with Taiwan Semiconductor (TSM) and win back market share it's been bleeding for years. Intel's 18A manufacturing technology is the linchpi...
New York, January 29, 2026, 10:57 EST — Regular session. Alphabet’s non-voting GOOG shares dipped following a brief surge to a new intraday peak Big Tech stocks shifted as investors pushed for returns amid ramped-up AI investments Google settled an Android data lawsuit for $135 million; Alphabet set to report earnings on Feb. 4 Alphabet’s non-voting Class C shares (GOOG) dropped 2.5% to $328.00 in...
New York, January 29, 2026, 10:57 EST — Regular session. Alphabet’s non-voting GOOG shares dipped following a brief surge to a new intraday peak Big Tech stocks shifted as investors pushed for returns amid ramped-up AI investments Google settled an Android data lawsuit for $135 million; Alphabet set to report earnings on Feb. 4 Alphabet’s non-voting Class C shares (GOOG) dropped 2.5% to $328.00 in early trading, after hitting a peak of $342.91 during the session. The stock had opened at $340 before pulling back. The shift came amid a tough day for growth stocks, with investors digesting fresh Big Tech earnings and fresh AI-related spending announcements. “It’s going to be a show me the money story for AI,” said Adam Turnquist, chief technical strategist at LPL Financial, as Microsoft slipped and the tech-heavy Nasdaq dropped. (Reuters) Microsoft’s update turned attention squarely on costs and margins, beyond just the revenue numbers. “Revenues are up 17% and the cost of revenues are up 19%,” noted Eric Clark, portfolio manager at the LOGO ETF. His remark summed up growing concern that AI-related capital spending is accelerating faster than returns. (Reuters) Alphabet landed in new legal trouble as Google agreed to fork over $135 million to settle a class action alleging Android collected cellular data without users’ consent. Plaintiffs’ attorney Glen Summers called the payout “the largest ever in a conversion case,” referring to claims over wrongful taking of property. The settlement still awaits a judge’s green light. (Reuters) Google rolled out new AI tools for Chrome, spotlighting image generation and editing capabilities alongside a virtual assistant that operates from a side panel during browsing. The firm also highlighted an “auto browse” feature available on paid plans, designed to manage multi-step online tasks—though users must still sign off on final moves like purchases. (AP News) PwC is stepping up its cloud and AI push with a $400 million, three-year co...
Andreyuu/iStock via Getty Images One company that I have found to be interesting for quite some time now is none other than ESAB Corporation ( ESAB ). The reason why I find this enterprise to be interesting is because its business model is relatively boring. In essence, it develops, produces, and supplies consumable products and equipment that can be used in the cutting, joining, and automated wel...
Andreyuu/iStock via Getty Images One company that I have found to be interesting for quite some time now is none other than ESAB Corporation ( ESAB ). The reason why I find this enterprise to be interesting is because its business model is relatively boring. In essence, it develops, produces, and supplies consumable products and equipment that can be used in the cutting, joining, and automated welding activities that make the modern world run. Long ago, I was actually bullish about the business. But after seeing shares essentially double the S&P 500 in the time that I was bullish, I downgraded it . Since my most recent article about the company, an article in which I reaffirmed it as a "Hold" candidate, the stock has unfortunately woefully underperformed the market. Shares are down 0.6% compared to the 23.3% increase that the S&P 500 saw over the same window of time. However, since I originally downgraded it to a "Hold" in August 2024, the stock has risen 18.5%. That's not too far off the 22.4% increase that the market enjoyed. Fundamentally speaking, the business is doing well on the top line. But bottom-line results have come under pressure. This helps explain the recent underperformance that the company has exhibited. But even so, management expects revenue to expand this year. Unfortunately, because profitability is dropping, the stock is becoming more expensive. Relative to other similar firms, shares are actually still very affordable. But that's not enough to justify an upgrade at this time. A Mixed Bag One of the best things about ESAB Corporation is that the company continues to grow on the top line. Take the most recent quarter as an example. This would be the third quarter of the company's 2025 fiscal year. During that time, revenue amounted to $727.8 million. That's 8.1% above the $673.3 million management reported a year earlier. This rise in sales was driven primarily by acquisition activities. You see, management has a history of acquiring other enter...
The forward seems to have lost a yard of pace but he is only 31 and leaving Stamford Bridge to make a fresh start may be the best thing for him While Raheem Sterling’s bank balance was boosted by his unhappy spell at Chelsea, the professional cost has been huge. The forward’s career has nosedived since his departure from Manchester City three and a half years ago. Sterling was hailed as a marquee ...
The forward seems to have lost a yard of pace but he is only 31 and leaving Stamford Bridge to make a fresh start may be the best thing for him While Raheem Sterling’s bank balance was boosted by his unhappy spell at Chelsea, the professional cost has been huge. The forward’s career has nosedived since his departure from Manchester City three and a half years ago. Sterling was hailed as a marquee signing when he joined Chelsea in the summer of 2022 but there was no place for him inside the tent by the time an agreement was finally reached to end his £325,000-a-week contract by mutual consent on Wednesday. The decline has been sad to watch. There was excitement when Sterling became the first player to join Chelsea after the Todd Boehly-Clearlake Capital takeover. He had won four Premier League titles with City and had undoubted pedigree. Thomas Tuchel wanted his threat in the final third and much was made of Sterling, who grew up near Wembley, returning to London when Chelsea signed him for £47.5m. Continue reading...
Getty Images Article Thesis Microsoft Corporation ( MSFT ) reported strong quarterly earnings results on Wednesday afternoon, but shares still sold off. Combined with the pullback we saw over the previous three months or so, this has made MSFT significantly cheaper—I think shares are a good value today, considering Microsoft's valuation and its highly compelling growth. Past Coverage I have writte...
Getty Images Article Thesis Microsoft Corporation ( MSFT ) reported strong quarterly earnings results on Wednesday afternoon, but shares still sold off. Combined with the pullback we saw over the previous three months or so, this has made MSFT significantly cheaper—I think shares are a good value today, considering Microsoft's valuation and its highly compelling growth. Past Coverage I have written about Microsoft Corporation here on Seeking Alpha in the past, most recently in late 2023, a little more than two years ago, when I published this article . I gave Microsoft a neutral rating back then—shares have generated positive returns since that article was published but trailed the broad market's return, so avoiding a “Buy” rating was a good choice. Right now, Microsoft looks like a better value, however, and with MSFT reporting its earnings results on Wednesday, I want to update my thesis on the company today. What Happened? Microsoft reported its fiscal Q2 results on Wednesday, following the market's close. The company's headline results looked like this: Microsoft's fiscal Q2 earnings results (Seeking Alpha) The company delivered a double beat, which naturally is a good sign—although this wasn't much of a surprise, as Microsoft did the same for the previous 11 quarters as well. Growth looked strong, with revenues jumping by a nice 17% compared to one year earlier, which, for a company the size of Microsoft, meant adding $12 billion in revenue in a single quarter alone. And yet, despite the compelling growth that MSFT delivered and the fact that it beat estimates on both lines, shares sold off following the earnings release—they traded down around 7% at the time of writing. Microsoft: Strong Performance Delving into the most recent quarterly earnings report, there are many things to like. First, Microsoft's business growth remained very strong, with revenues growing at a high-teens pace, which, of course, compares favorably to the growth seen by the average compan...
Getty Images Article Thesis Microsoft Corporation ( MSFT ) reported strong quarterly earnings results on Wednesday afternoon, but shares still sold off. Combined with the pullback we saw over the previous three months or so, this has made MSFT significantly cheaper—I think shares are a good value today, considering Microsoft's valuation and its highly compelling growth. Past Coverage I have writte...
Getty Images Article Thesis Microsoft Corporation ( MSFT ) reported strong quarterly earnings results on Wednesday afternoon, but shares still sold off. Combined with the pullback we saw over the previous three months or so, this has made MSFT significantly cheaper—I think shares are a good value today, considering Microsoft's valuation and its highly compelling growth. Past Coverage I have written about Microsoft Corporation here on Seeking Alpha in the past, most recently in late 2023, a little more than two years ago, when I published this article . I gave Microsoft a neutral rating back then—shares have generated positive returns since that article was published but trailed the broad market's return, so avoiding a “Buy” rating was a good choice. Right now, Microsoft looks like a better value, however, and with MSFT reporting its earnings results on Wednesday, I want to update my thesis on the company today. What Happened? Microsoft reported its fiscal Q2 results on Wednesday, following the market's close. The company's headline results looked like this: Microsoft's fiscal Q2 earnings results (Seeking Alpha) The company delivered a double beat, which naturally is a good sign—although this wasn't much of a surprise, as Microsoft did the same for the previous 11 quarters as well. Growth looked strong, with revenues jumping by a nice 17% compared to one year earlier, which, for a company the size of Microsoft, meant adding $12 billion in revenue in a single quarter alone. And yet, despite the compelling growth that MSFT delivered and the fact that it beat estimates on both lines, shares sold off following the earnings release—they traded down around 7% at the time of writing. Microsoft: Strong Performance Delving into the most recent quarterly earnings report, there are many things to like. First, Microsoft's business growth remained very strong, with revenues growing at a high-teens pace, which, of course, compares favorably to the growth seen by the average compan...
PeopleImages/iStock via Getty Images By Michiel Tukker , Senior European Rates Strategist and Padhraic Garvey , CFA, Regional Head of Research, Americas Market rates smell some more upside, while the plumbing gets the thumbs up (just) The curve edged higher on the smidgen of reduced negative commentary from the FOMC statement, and the commentary from Chair Powell subsequently copper-fastened the m...
PeopleImages/iStock via Getty Images By Michiel Tukker , Senior European Rates Strategist and Padhraic Garvey , CFA, Regional Head of Research, Americas Market rates smell some more upside, while the plumbing gets the thumbs up (just) The curve edged higher on the smidgen of reduced negative commentary from the FOMC statement, and the commentary from Chair Powell subsequently copper-fastened the market notion that rate cuts are off the agenda, at least for now. This week, the 10yr yield edged up from the 4.2% area on Monday to 4.25% post the FOMC (and is higher today, pre- and post the FOMC). It’s been quite the week for dollar products, given the FX intervention talk out of Japan and then the dollar weakness push from President Trump. Add that vulnerability to a Fed that’s standing pat on less macro negatives, likely facilitating an upside test for market rates as a lasting reaction. In terms of the plumbing, no change to the policy action of buying bills, and out to 3yr Treasuries where required. That has been required, as the latest data show renewed net buying in the bond space (in fact dwarfing the roll-off of MBS paper). Repo volatility circumstances have in turn calmed, but the effective funds rate remains elevated. It remains at just a basis point below the rate paid on excess reserves, versus a prior 7bp spread. It’s not a drama. But still, the optics aren’t great. And those optics were, in fact, the genesis of the decision to reignite bills buying in the first place. But, not a whole lot of additional commentary on this from Chair Powell. Stronger euro a headache for the ECB but unlikely a game changer The euro’s appreciation on the back of a stronger dollar tilts the balance of risks slightly further towards more European Central Bank cuts, but the rates impact should be limited for now. In normal circumstances, a stronger euro would be linked to improving growth and is therefore often interpreted as a hawkish signal. In this case, however, the euro stren...
The Dow Jones Industrial Average and other major stock indexes reversed from earlier gains and fell sharply Thursday, as Wall Street digested a slew of big earnings results. Meta Platforms held strong gains, but Tesla reversed lower on the stock market today and Microsoft plunged on its results. The Dow reversed for a 0.4% loss as Microsoft's 12% gash certainly weighed on blue chips.
The Dow Jones Industrial Average and other major stock indexes reversed from earlier gains and fell sharply Thursday, as Wall Street digested a slew of big earnings results. Meta Platforms held strong gains, but Tesla reversed lower on the stock market today and Microsoft plunged on its results. The Dow reversed for a 0.4% loss as Microsoft's 12% gash certainly weighed on blue chips.
Image source: The Motley Fool. Thursday, January 29, 2026 at 10:00 a.m. ET Call participants Chief Executive Officer — Stephen Shafer Chief Financial Officer — Charles Lauber Vice President, Investor and Financial Planning and Analysis — Helen Gurholt Takeaways EPS -- $3.85 in 2025, up 6%, described as a company record, driven by improved profitability in both reporting segments. -- $3.85 in 2025,...
Image source: The Motley Fool. Thursday, January 29, 2026 at 10:00 a.m. ET Call participants Chief Executive Officer — Stephen Shafer Chief Financial Officer — Charles Lauber Vice President, Investor and Financial Planning and Analysis — Helen Gurholt Takeaways EPS -- $3.85 in 2025, up 6%, described as a company record, driven by improved profitability in both reporting segments. -- $3.85 in 2025, up 6%, described as a company record, driven by improved profitability in both reporting segments. Total Sales -- $3.8 billion for 2025, up slightly, reflecting pricing gains and increased commercial volume, offset by weaker China performance. -- $3.8 billion for 2025, up slightly, reflecting pricing gains and increased commercial volume, offset by weaker China performance. North America Segment Margin -- 24.4%, an increase of 20 basis points, attributed to water treatment margin improvements and higher commercial sales. -- 24.4%, an increase of 20 basis points, attributed to water treatment margin improvements and higher commercial sales. Rest of World Segment Margin -- 8.7%, up 40 basis points, with China restructuring and cost controls offsetting sales declines. -- 8.7%, up 40 basis points, with China restructuring and cost controls offsetting sales declines. North America Water Heater Sales -- Rose 1%, aided by pricing and commercial growth, offsetting weakness in wholesale residential volume. -- Rose 1%, aided by pricing and commercial growth, offsetting weakness in wholesale residential volume. North America Boiler Sales -- Increased by 8%, supported by strong demand for high-efficiency products and pricing actions. -- Increased by 8%, supported by strong demand for high-efficiency products and pricing actions. North America Water Treatment Sales -- Fell 2%, reflecting strategic pullback from lower-margin retail, while dealer direct and e-commerce channels expanded 10% and segment margin broadened by 400 basis points to nearly 13%. -- Fell 2%, reflecting strategic pu...