Gorlov/iStock via Getty Images The consumer price index for February came in at 2.4%, the same YoY metric as January, despite being up 0.3% MoM. Overall, this is still lower than last 2025's average and well below its peak. BLS This fell in line with expectations from analysts for both core and non-core CPI figures, and so the market reaction seemed rather muted at the time of release, with equity...
Gorlov/iStock via Getty Images The consumer price index for February came in at 2.4%, the same YoY metric as January, despite being up 0.3% MoM. Overall, this is still lower than last 2025's average and well below its peak. BLS This fell in line with expectations from analysts for both core and non-core CPI figures, and so the market reaction seemed rather muted at the time of release, with equity markets flat. The median forecast from Wall St. was effectively spot on, and so we may call this report “priced in” with relative certainty. Overall, this figure is still above the Fed's target and is considered to be running hot even if it is far below where it was a few years ago. Here's the wider shot of inflation for reference: NYT When looking at the weights and contributions, we can see that core services contributed to the majority of the YoY increase, although energy services (i.e., electricity) and restaurants had outsized impacts on the report as well. Duality Research The February 2026 CPI Report Here's the headline report with my quick highlights: Annotations by author (BLS) While food was one of the categories that ran hotter than expected at 3.1% (and nearly 4% for eating out), that's been an ongoing trend in past reports that isn't too much of a surprise to me here. Within the core CPI report, we saw an outsized impact from apparel and medical care services, with smartphone prices declining nearly 12% and making “communications commodities” deflationary on the report. Duality Research Gas, Electricity, and Regionality Gasoline had fallen 5.6% in this report, also an ongoing trend. One of the major reasons for inflation falling in 2025 was falling energy prices, and so this was expected. Due to the closure of the Strait of Hormuz , this is certain to reverse course in March; more on that in the next section. I am still watching electricity prices, with my belief that service prices are rising at a much hotter pace than inflation (consistently above 4%!) due t...
Erik Isakson Navitas Semiconductor ( NVTS ) shares had surged 18% during morning market action on Wednesday after the company introduced two new product packages designed to improve efficiencies in artificial intelligence data centers. This included the top-side cooled QDPAK and the low-profile TO-247-4-LP. The QDPAK was designed to overcome the thermal limitations of conventional PCB cooling by e...
Erik Isakson Navitas Semiconductor ( NVTS ) shares had surged 18% during morning market action on Wednesday after the company introduced two new product packages designed to improve efficiencies in artificial intelligence data centers. This included the top-side cooled QDPAK and the low-profile TO-247-4-LP. The QDPAK was designed to overcome the thermal limitations of conventional PCB cooling by enabling heat dissipation directly through the top of the package to the heatsink. It is also intended to enable smaller system footprints while supporting cleaner switching and higher efficiency at high frequencies. It supports larger die sizes and higher current capability as well. Meanwhile, the TO-247-4-LP package was designed for power electronics systems where vertical clearance is limited, such as high-density AI power racks. "Our customers are pushing the boundaries of what is possible in AI data center and energy infrastructure applications," said Paul Wheeler, VP and GM of the SiC business unit at Navitas. "The introduction of top-side cooled QDPAK and low-profile TO-247-4-LP packages is a direct response to the need for 'more power in less space.'" The Torrance, Calif.-based Navitas' stock has rocketed 300% over the past year as it has expanded into high-power markets such as AI data centers and industrial electrification. It has a Strong Buy rating from Seeking Alpha's Quant system. More on Navitas Semiconductor Navitas Semiconductor Corporation (NVTS) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript Navitas: Growth Roadmap Depends On Successful Sampling - Numerous Risks Ahead Navitas Semiconductor Corporation (NVTS) Q4 2025 Earnings Call Transcript Navitas outlines $3.5B high-power market opportunity and projects sequential growth through 2026 Navitas Semiconductor GAAP EPS of -$0.14 misses by $0.05, revenue of $7.29M beats by $0.34M
MF3d/iStock via Getty Images I previously covered Texas Instruments ( TXN ) in July 2024, discussing how the management had hinted at the recovery of the analog chips market, albeit with much of its upside potential already pulled forward in the intermediate term, with the stock appearing to be expensive then. With the wider market and many other semiconductor stocks also pulling back from prior h...
MF3d/iStock via Getty Images I previously covered Texas Instruments ( TXN ) in July 2024, discussing how the management had hinted at the recovery of the analog chips market, albeit with much of its upside potential already pulled forward in the intermediate term, with the stock appearing to be expensive then. With the wider market and many other semiconductor stocks also pulling back from prior highs, I believed that there might be more uncertainty, resulting in my Hold rating then. In this article, I shall discuss why I am reiterating my Hold rating for the TXN stock, attributed to the stock's still premium valuations despite the ongoing stock price consolidation over the past few years along with their likely to be impacted balance sheet health arising from their dividend commitments and upcoming acquisition. This is despite the promising diversification into the data center segment, the recovering industrial end market, and the projected expansion in their Free Cash Flow per share entering FY2026. TXN Delivers Robust Diversification & FCF Recovery Entering FY2026 TXN 1Y Stock Price ( TradingView ) Since my last Hold rating, TXN has indeed underperformed with a stagnant stock price change of +0.8% compared to the wider market at +24.1%, as the stock also returns much of their prior market rotation gains between November 2025 and February 2026 by the time of writing. This performance has naturally lent credence to my prior Hold rating, as the stock notably grows into its previously premium valuations, as discussed in my last article. Otherwise, it is apparent that TXN has delivered robust performance metrics, as observed in their ability to tap into the booming data center capex trends through the growing data center revenues of $1.5B in FY2025 (+64% YoY). While the management does not offer a backlog metric, they have already hinted at their growing monetization opportunities through "the stronger bookings" and the immediate order fulfillments, as their data cent...
matejmo/iStock via Getty Images By James Knightley , Chief International Economist, US Tariff impact remains limited on prices US February consumer price inflation was broadly in line with expectations. Headline prices rose 0.3% month-on-month/2.5% year-on-year, while core inflation (excluding food and energy) was only 0.2%/2.4%, suggesting inflation pressures were well-behaved ahead of the milita...
matejmo/iStock via Getty Images By James Knightley , Chief International Economist, US Tariff impact remains limited on prices US February consumer price inflation was broadly in line with expectations. Headline prices rose 0.3% month-on-month/2.5% year-on-year, while core inflation (excluding food and energy) was only 0.2%/2.4%, suggesting inflation pressures were well-behaved ahead of the military action in Iran. Used vehicle prices fell 0.4% MoM, new vehicle prices were flat, education and communication prices fell 0.2%, and housing costs rose only 0.2%, which helped to offset larger increases for appliances (+3.1% MoM) apparel (+1.3%), medical care services (+0.6%) and airline fares (+1.3%). The chart below shows that sectors vulnerable to the effects of tariffs - goods prices ex food and energy - remain remarkably benign. That is mainly down to weakness in auto prices, but even if we strip out autos, core goods rose only 0.2% MoM. Appliances did catch the eye with their 3.1% MoM increase, following a 1.3% gain in January, but this followed 1.1% and 2.6% monthly drops in November and December, so it is difficult to argue tariffs are having a major impact on prices. All we can say is that with import prices continuing to rise and consumer prices looking benign, the extra $20-$25bn of tariff costs per month are being borne by corporate America. Productivity gains are often cited as a factor limiting the inflation effect, but we note that imports are rising quickly again now that all the pre-tariff inventory build from late 2024/early 2025 has been exhausted. That suggests more tariff costs to come. As such, we can’t exclude the possibility that tariffs will eventually have a more noticeable impact on prices. US core goods prices, MoM% & YoY% Source: Macrobond, ING Energy costs point to a return of 3%+ inflation While on balance the report is a pretty good outcome, reaction has been limited given concerns about how developments in the Middle East are likely to mean...
(RTTNews) - Stocks have shown a lack of direction over the course of trading on Monday, extending the lackluster performance seen to close out the previous week. The major averages have spent the day bouncing back and forth across the unchanged line. Currently, the major averages are narrowly mixed. While the Nasdaq is up 8.83 points or 0.1 percent at 17,697.71, the S&P 500 is down 2.33 points or ...
(RTTNews) - Stocks have shown a lack of direction over the course of trading on Monday, extending the lackluster performance seen to close out the previous week. The major averages have spent the day bouncing back and forth across the unchanged line. Currently, the major averages are narrowly mixed. While the Nasdaq is up 8.83 points or 0.1 percent at 17,697.71, the S&P 500 is down 2.33 points or less than a tenth of a percent at 5,429.27 and the Dow is down 77.29 points or 0.2 percent at 38,511.87. The choppy trading on Wall Street comes as traders take a moment to assess the recent activity in the markets along with the near-term outlook. The Nasdaq and the S&P 500 set new record highs last week and posted strong weekly gains, while the narrower Dow moved lower for the third time in the last four weeks. Investors may also be reluctant to make significant moves ahead of the release of some key economic data in the coming days. Reports on retail sales and industrial production are likely to be in the spotlight, while reports on homebuilder confidence, housing starts and existing home sales may also attract attention. The upcoming Juneteenth holiday may also be contributing to lighter than usual trading activity, as the markets will be closed on Wednesday. On the U.S. economic front, the Federal Reserve Bank of New York released a report this morning showing New York manufacturing activity contracted at a notably slower rate in the month of June. The New York Fed said its general business conditions index climbed to a negative 6.0 in June from a negative 15.6 in May, although a negative reading still indicates contraction. Economists had expected the index to rise to a negative 9.0. Despite the continued contraction in current activity, the New York Fed said optimism about the six-month outlook picked up to its highest level in more than two years. Sector News Most of the major sectors are showing only modest moves on the day, contributing to the lackluster performan...
Fritz Jorgensen/iStock Editorial via Getty Images Bank of America research highlights the S&P 500 stocks that have seen the biggest expansion in ownership breadth, meaning the percentage of institutional funds holding each stock over the past year. The data shows a clear pattern: AI and technology-related names dominate the list, reflecting how investor enthusiasm around artificial intelligence ha...
Fritz Jorgensen/iStock Editorial via Getty Images Bank of America research highlights the S&P 500 stocks that have seen the biggest expansion in ownership breadth, meaning the percentage of institutional funds holding each stock over the past year. The data shows a clear pattern: AI and technology-related names dominate the list, reflecting how investor enthusiasm around artificial intelligence has driven steady inflows into the sector. Palantir Technologies ( PLTR ) leads by a wide margin, with ownership rising from just 7% of funds a year ago to 32% today, a jump of 26 percentage points, the largest increase in the entire index. Other AI-linked or semiconductor-adjacent firms such as Broadcom ( AVGO ), Arista Networks ( ANET ), and Amphenol ( APH ) also saw strong gains in fund participation, underscoring the broad-based institutional pivot into AI infrastructure and data-enabling technologies. Beyond the core tech names, the inclusion of GE Vernova ( GEV ) and Gilead Sciences ( GILD ) shows that investors are diversifying exposure across sectors while still prioritizing growth resilience. Large-cap communication services firms like Meta Platforms ( META ) and Netflix ( NFLX ) also attracted new fund ownership Below is a list of stocks with the largest increase in ownership breadth according to Bank of America global research, ranked by their Seeking Alpha Quant Ratings. Arista Networks ( ANET ) and AppLovin ( APP ) top the list, earning “Strong Buy” ratings from the Quant system with scores of 4.78 and 4.52, respectively. These two names stand out as the only stocks on the list to achieve bullish assessments above the 3.5 threshold. The remainder of the top five includes Western Digital ( WDC ), Broadcom ( AVGO ), and GE Vernova ( GEV ), all carrying “Hold” ratings. Notably, Western Digital has delivered the strongest year-to-date performance of the group at 54.54%, while GE Vernova has gained 28.40% YTD despite its more neutral Quant assessment. Here is the list...
SOUTHLAKE, Texas, March 11, 2026 (GLOBE NEWSWIRE) -- Renewal Fuels, Inc. (OTC: RNWF) (“RNWF”, “American Fusion” or the “Company”), has become aware of a false report circulating on online message boards and social media platforms that incorrectly claims the Company has announced a public offering of common stock. The Company confirms that the referenced report is false. Renewal Fuels, Inc. has not...
SOUTHLAKE, Texas, March 11, 2026 (GLOBE NEWSWIRE) -- Renewal Fuels, Inc. (OTC: RNWF) (“RNWF”, “American Fusion” or the “Company”), has become aware of a false report circulating on online message boards and social media platforms that incorrectly claims the Company has announced a public offering of common stock. The Company confirms that the referenced report is false. Renewal Fuels, Inc. has not announced, authorized, or filed for any public offering of its common stock, and the Company is not currently engaged with any investment bank to conduct such an offering. The circulating post, which appears to mimic the format of a GlobeNewswire press release, is not an official communication from the Company and did not originate from GlobeNewswire or any other authorized news distribution service used by the Company. GlobeNewswire has confirmed to the Company that it did not distribute any such press release. Management is actively reviewing the source of the false report and is taking steps to address the matter. Richard Hawkins, CEO of Renewal Fuels, Inc., stated, “The Company has not announced a public offering and is not conducting a dilutive capital raise. The document circulating online is fabricated and does not represent any action taken by the Company.” The Company encourages investors, shareholders, and members of the public to rely only on official Company announcements distributed through GlobeNewswire and published on the Company’s official communication channels, and to contact the Company directly with any questions regarding corporate announcements or disclosures. At this time, the Company does not have shares available to issue under a public offering structure and does not anticipate pursuing a dilutive offering at current market levels. Renewal Fuels, Inc. remains fully compliant with all applicable regulatory and disclosure requirements. For more information about Kepler Fusion Technologies and its Texatron™ platform, please visit: www.keplerfusion.c...
A unit of China’s Ministry of Industry and Information Technology (MIIT) has issued guidelines on best practices and prohibitions for adopting and using OpenClaw, the popular artificial intelligence agent that continues to dominate the market. The advisory, developed in collaboration with AI agent providers, vulnerability platform operators and cybersecurity firms, aims to address risks in typical...
A unit of China’s Ministry of Industry and Information Technology (MIIT) has issued guidelines on best practices and prohibitions for adopting and using OpenClaw, the popular artificial intelligence agent that continues to dominate the market. The advisory, developed in collaboration with AI agent providers, vulnerability platform operators and cybersecurity firms, aims to address risks in typical use cases of “lobster”, OpenClaw’s mascot, according to a Wednesday statement from the MIIT-run National Vulnerability DataBase (NVDB). The guidelines recommend six practices: use the official latest version, minimise internet exposure, grant only the minimum permissions necessary, exercise caution when using the skill market filled with third-party offerings, guard against browser hijacking, and regularly check for patch vulnerabilities. Advertisement By contrast, users are warned against using outdated or third-party mirror versions of OpenClaw, exposing AI agent instances to the internet, enabling administrator accounts during deployment, installing skill packs that require entering passwords, browsing unverified websites, and disabling detailed log auditing functions. The NVDB also provided instructions on restricting internet access, scanning files and uninstalling the software. The advisory was developed in collaboration with AI agent providers, vulnerability platform operators and cybersecurity firms. Photo: Xinhua
When news broke Tuesday morning that Meta bought Moltbook, the social network for AI agents, it may have left some people scratching their heads. What on earth would Meta — an ad-supported company — want with a social network where the users are bots? Bots, after all, are not the target audience of brand marketers and advertisers. Meta isn’t saying much. Its only official comment was a brief state...
When news broke Tuesday morning that Meta bought Moltbook, the social network for AI agents, it may have left some people scratching their heads. What on earth would Meta — an ad-supported company — want with a social network where the users are bots? Bots, after all, are not the target audience of brand marketers and advertisers. Meta isn’t saying much. Its only official comment was a brief statement that the Moltbook team was joining Meta Superintelligence Labs, which would open up “new ways for AI agents to work with people and businesses.” Reading between the lines, this was an acqui-hire. A network built for bots isn’t exactly a natural home for brand advertising — even if Moltbook was never entirely non-human. What Meta really wanted was the talent behind it — people who are having fun brainstorming and experimenting with AI agent ecosystems. And that, counterintuitively, could be a boon for its advertising business. As Meta CEO Mark Zuckerberg said last year, he believes in a future where “every business will soon have a business AI, just like they have an email address, social media account, and website.” On an agentic web, one where AI systems act independently on users’ behalf, AI agents could interact with each other, doing things like buying ads, making bookings, and responding to customers. AI is also being used to generate ad creative and tailor its output based on who’s viewing it. AI systems could also manage product pricing or generate personalized offers. On the consumer side, agents could be used to find the best prices and deals, manage bookings, and shop for products. In some limited cases, agents can already check out and pay on consumers’ behalf. (Agentic commerce is still in its early days, and these systems don’t always work as well as advertised. But the market has been moving fast, and improvements seem likely soon enough.) As Facebook once built the “friend graph” — a network defined by social connections between people, where every indiv...
When news broke Tuesday morning that Meta bought Moltbook, the social network for AI agents, it may have left some people scratching their heads. What on earth would Meta — an ad-supported company — want with a social network where the users are bots? Bots, after all, are not the target audience of brand marketers and advertisers. Meta isn’t saying much. Its only official comment was a brief state...
When news broke Tuesday morning that Meta bought Moltbook, the social network for AI agents, it may have left some people scratching their heads. What on earth would Meta — an ad-supported company — want with a social network where the users are bots? Bots, after all, are not the target audience of brand marketers and advertisers. Meta isn’t saying much. Its only official comment was a brief statement that the Moltbook team was joining Meta Superintelligence Labs, which would open up “new ways for AI agents to work with people and businesses.” Reading between the lines, this was an acqui-hire. A network built for bots isn’t exactly a natural home for brand advertising — even if Moltbook was never entirely non-human. What Meta really wanted was the talent behind it — people who are having fun brainstorming and experimenting with AI agent ecosystems. And that, counterintuitively, could be a boon for its advertising business. As Meta CEO Mark Zuckerberg said last year, he believes in a future where “every business will soon have a business AI, just like they have an email address, social media account, and website.” On an agentic web, one where AI systems act independently on users’ behalf, AI agents could interact with each other, doing things like buying ads, making bookings, and responding to customers. AI is also being used to generate ad creative and tailor its output based on who’s viewing it. AI systems could also manage product pricing or generate personalized offers. On the consumer side, agents could be used to find the best prices and deals, manage bookings, and shop for products. In some limited cases, agents can already check out and pay on consumers’ behalf. (Agentic commerce is still in its early days, and these systems don’t always work as well as advertised. But the market has been moving fast, and improvements seem likely soon enough.) As Facebook once built the “friend graph” — a network defined by social connections between people, where every indiv...
The Kneecap rapper Liam Óg Ó hAnnaidh will not face a terrorism charge over allegedly displaying a Hezbollah flag during a gig after the high court in London upheld a decision to throw out the case. Ó hAnnaidh, 28, who performs under the name Mo Chara, had been charged with the offence for allegedly displaying the flag of the proscribed group during a performance at the O2 Forum in Kentish Town, n...
The Kneecap rapper Liam Óg Ó hAnnaidh will not face a terrorism charge over allegedly displaying a Hezbollah flag during a gig after the high court in London upheld a decision to throw out the case. Ó hAnnaidh, 28, who performs under the name Mo Chara, had been charged with the offence for allegedly displaying the flag of the proscribed group during a performance at the O2 Forum in Kentish Town, north London, in November 2024. Last September the chief magistrate, Paul Goldspring, rejected the case due to a filing mistake in the way the case was brought against Ó hAnnaidh. In that ruling, he said: “I find that these proceedings were not instituted in the correct form, lacking the necessary DPP [director of public prosecutions] and AG [attorney general] consent within the six-month statutory timelimit set by section 127.” On Wednesday, two high court judges, Lord Justice Edis and Mr Justice Linden, upheld Goldspring’s decision to rule the charge unlawful. Ó hAnnaidh’s defence team, led by Brenda Campbell KC, argued that the attorney general, Richard Hermer, had not given permission for the case to be brought when police informed Ó hAnnaidh he was to face a terrorism charge last May. The judges dismissed the appeal by the director of public prosecutions. The judgment, written by Edis, said: “We consider that the first written charge was issued on 21 May 2025 and this was when the proceedings were instituted for the purposes of Tact [Terrorism Act 2000]. That was a nullity because of the terms of section 117(2) and (2A) of Tact. “It follows that no written charge was issued within 6 months of 21 September 2025 and the judge was right to hold that he had no jurisdiction to try any summary only offence alleged to have been committed on that date.” Edis added: “It is a matter of concern that a charge, which both the DPP and the attorney general considered met both parts of the full code test for crown prosecutors, will never now be determined. “There was, they decided, a r...
Morsa Images/DigitalVision via Getty Images Back in early November of last year, I decided to revisit First Financial Bankshares ( FFIN ). For me, as a value investor, this kind of bank is one of the most difficult to rate. This stems from the fact that, as a value investor, I am wary of enterprises that trade at multiples that are higher than other firms that are similar typically do. Normally, s...
Morsa Images/DigitalVision via Getty Images Back in early November of last year, I decided to revisit First Financial Bankshares ( FFIN ). For me, as a value investor, this kind of bank is one of the most difficult to rate. This stems from the fact that, as a value investor, I am wary of enterprises that trade at multiples that are higher than other firms that are similar typically do. Normally, such a valuation disparity would justify a ‘sell’ rating as opposed to a ‘hold’. But when you consider how high the quality of assets are, that makes it more challenging. I don't mind assigning premiums to companies that are high quality in nature. But figuring out the line between fairly valued on a quality adjusted basis and undervalued or overvalued is more art than science. At the end of the day, in that article, I decided to take the more cautious approach. This led me to reaffirm the business as a ‘hold’ candidate. Since then, the stock has outperformed the market some, rising 5%. But considering that the S&P 500 is up 3.2% over that same window of time, I wouldn't say that the return disparity is massive. From a purely fundamental standpoint, the company is growing nicely. That quality is exceptional, but shares of the business are priced at levels that are difficult to justify. Because of this, I have no choice but to reaffirm the company as a ‘hold’ candidate until such time that fundamentals justify an upgrade. Shares are still too pricey for my liking When it comes to fundamentals specifically, I would say that First Financial Bankshares is doing a really good job right now. Take deposits as an example. They totaled $13.35 billion for the most recent quarter. That would be the final quarter of the company's 2025 fiscal year. That represents an increase over the $12.85 billion reported in the third quarter, and it is well above the $12.10 billion that the company had at the end of 2024. Deposit growth is paramount for banks. After all, they serve as literal fuel fo...
Getty Images Thesis Domo, Inc. ( DOMO ) is a U.S. cloud software company that provides a data platform for BI (business intelligence), data visualization, and AI-driven analytics. The company's fairly young, founded in 2010, and is located in the quaint city of American Fork, Utah, about 30 miles from Salt Lake City. Basically, its software helps organizations connect different data sources, analy...
Getty Images Thesis Domo, Inc. ( DOMO ) is a U.S. cloud software company that provides a data platform for BI (business intelligence), data visualization, and AI-driven analytics. The company's fairly young, founded in 2010, and is located in the quaint city of American Fork, Utah, about 30 miles from Salt Lake City. Basically, its software helps organizations connect different data sources, analyze information, and visualize results in real time, allowing teams across a business to make faster and more informed decisions. Seeking Alpha In terms of performance, DOMO has been a disaster. Over the past year, my peers have done a solid job pointing out the company’s problems and issuing Sell ratings accordingly. That being said, after reviewing the latest earnings report, I'm breaking from the ranks and leaning bullish on the shares as the underlying business shows signs of turning a corner. What I Think About Domo’s Breakout Q4 2026 Billings (Q4): $111.2M (+8% YoY) Clearly, the market likes what it’s seeing from Domo. As of this writing, the stock is up more than 40% in pre-market trading, so let’s get into what’s actually going on. When reviewing Domo’s quarter , what stood out most to me was the growth in billings. This growth seems to be coming mainly from two things: better customer retention (existing customers staying with the company) and faster adoption of consumption-based pricing. Management also pointed out that customers are starting to use the Domo platform for more than just analytics. Instead of only using it to analyze data, customers are increasingly using it to run operational workflows and support AI agentic processes. My general philosophy, applied to just about every aspect of life, is that simple is better. As for Domo's position in this ecosystem, instead of just storing and analyzing data, businesses really just want well-controlled (governed) systems that can automatically turn data into actions, without needing these complicated integrations ...
Image source: The Motley Fool. Wednesday, March 11, 2026 at 10 a.m. ET CALL PARTICIPANTS Executive Chairman — Warren B. Kanders President — Brad E. Williams Chief Financial Officer — Blaine Browers TAKEAWAYS Backlog -- Backlog increased nearly 50%, including the addition of CARS Engineering and a $50 million blast exposure monitoring system contract. -- Backlog increased nearly 50%, including the ...
Image source: The Motley Fool. Wednesday, March 11, 2026 at 10 a.m. ET CALL PARTICIPANTS Executive Chairman — Warren B. Kanders President — Brad E. Williams Chief Financial Officer — Blaine Browers TAKEAWAYS Backlog -- Backlog increased nearly 50%, including the addition of CARS Engineering and a $50 million blast exposure monitoring system contract. -- Backlog increased nearly 50%, including the addition of CARS Engineering and a $50 million blast exposure monitoring system contract. Med-Eng Contract Award -- Med-Eng was awarded $86 million in contracts from General Dynamics (NYSE:GD) European Land Systems for blast attenuation seats, with production beginning in 2026 and deliveries extending through 2031 and 2029, respectively. -- Med-Eng was awarded $86 million in contracts from (NYSE:GD) European Land Systems for blast attenuation seats, with production beginning in 2026 and deliveries extending through 2031 and 2029, respectively. Adjusted EBITDA -- 2025 adjusted EBITDA reached $111.7 million, marking a record for the third consecutive year. -- 2025 adjusted EBITDA reached $111.7 million, marking a record for the third consecutive year. Gross Margin Improvement -- 2025 gross margin increased 140 basis points year over year, with public safety product gross margin (excluding distribution and nuclear) up 188 basis points. -- 2025 gross margin increased 140 basis points year over year, with public safety product gross margin (excluding distribution and nuclear) up 188 basis points. M&A Activity -- Completed the acquisitions of CARS Engineering and TIER Tactical; six total acquisitions since IPO, with a robust pipeline maintained for 2026. -- Completed the acquisitions of CARS Engineering and TIER Tactical; six total acquisitions since IPO, with a robust pipeline maintained for 2026. TIER Tactical Integration -- TIER Tactical, acquired in February, is expected to contribute $88 million to $92 million in revenue in 2026 with EBITDA margins around 20% and minimal cus...
AeroVironment (AVAV 7.16%) stock slipped 5% through 11:05 a.m. ET Wednesday after missing on earnings last night. Analysts forecast the maker of military drones would earn $0.72 per share on sales of $483.9 million in its fiscal Q3 2026. In fact, AeroVironment earned only $0.64 per share, and sales fell far short of expectations: $408 million. AeroVironment Q3 earnings On the surface, this seems p...
AeroVironment (AVAV 7.16%) stock slipped 5% through 11:05 a.m. ET Wednesday after missing on earnings last night. Analysts forecast the maker of military drones would earn $0.72 per share on sales of $483.9 million in its fiscal Q3 2026. In fact, AeroVironment earned only $0.64 per share, and sales fell far short of expectations: $408 million. AeroVironment Q3 earnings On the surface, this seems pretty bad news -- but it wasn't all bad. Despite "missing" on sales, AeroVironment nonetheless managed to grow its sales 143% year over year. Less encouraging is the news on profits. AeroVironment not only missed on earnings in Q3. And what it did "earn" was only pro forma profit. When calculated under generally accepted accounting principles (GAAP), AV's result for Q3 was actually a net loss of $3.15 per share. Year to date, AV has racked up losses of $241 million, and its free cash flow is negative $220 million. Expand NASDAQ : AVAV AeroVironment Today's Change ( -7.16 %) $ -15.87 Current Price $ 205.70 Key Data Points Market Cap $11B Day's Range $ 199.37 - $ 213.56 52wk Range $ 102.25 - $ 417.86 Volume 2.8M Avg Vol 1.7M Gross Margin 21.66 % Is AeroVironment stock a sell? So sales are surging, but profits are nowhere to be seen. How should investors react to this? On the one hand, continued sales growth seems certain. Management noted it's got a book-to-bill ratio of 1.6 so far this year (which foreshadows more strong sales growth ahead). Guidance is for about $1.9 billion in total sales through the end of this fiscal year, more than twice AV's total sales last year. There are two problems with this: First, AV's entire guidance range is below analysts' year-end forecasts. Second, it's not enough revenue to turn AV profitable. GAAP losses for the year are still forecast to be at least $4.10 per share, and potentially as bad as $4.44 per share. To me, AV stock looks like a sell.
tupungato Morgan Stanley ( MS ) has reportedly started hiring staff on a contract basis in Hong Kong to manage a boost in stock listings, allowing the U.S.-based bank to control costs as it deals with a surge in activity. While a wave of IPO listings has led to increased demand for talent, volatile markets make it difficult to justify the high cost of permanent hires, Reuters reported, citing thre...
tupungato Morgan Stanley ( MS ) has reportedly started hiring staff on a contract basis in Hong Kong to manage a boost in stock listings, allowing the U.S.-based bank to control costs as it deals with a surge in activity. While a wave of IPO listings has led to increased demand for talent, volatile markets make it difficult to justify the high cost of permanent hires, Reuters reported, citing three people familiar with the Morgan Stanley hiring. Since late 2025, the company's investment bank unit has hired staff on one-year contracts to work on due diligence for listing applications, the sources told Reuters. It's not uncommon for global banks to hire temporary workers for various functions to manage sudden bursts of business, but it's not a typical practice in investment banks, especially in Asia, the report said. The IPO transaction team was formed in Q4 2025 and consists of ~10 people, Reuters said. It conducts due diligence for Hong Kong and U.S. IPOs, mainly for Chinese companies, it added. More on Morgan Stanley Morgan Stanley A Vs. E Preferred Shares: Rating Change For Both Morgan Stanley: Maybe I Was Wrong To Sell (And Why The Preferreds Remain Attractive) Morgan Stanley (MS) Presents at UBS Financial Services Conference 2026 Transcript Big banks in top losers; Circle Internet, Coinbase, SoFi among gainers - week's financials wrap Core Scientific secures strategic financing with Morgan Stanley for up to $1B