Earnings Call Insights: Grupo Aeroportuario del Pacífico (PAC) Q4 2025 Management View CEO Raul Musalem opened by noting "Passenger traffic decreased 0.9% during the fourth quarter compared to the same period of 2024," attributing this to two distinct dynamics: stable trends in Mexico, aided by a new maximum tariff and market expansion, and a significant decline in Jamaica due to Hurricane Melissa...
Earnings Call Insights: Grupo Aeroportuario del Pacífico (PAC) Q4 2025 Management View CEO Raul Musalem opened by noting "Passenger traffic decreased 0.9% during the fourth quarter compared to the same period of 2024," attributing this to two distinct dynamics: stable trends in Mexico, aided by a new maximum tariff and market expansion, and a significant decline in Jamaica due to Hurricane Melissa, which caused a nearly 35% traffic drop at Jamaican airports but did not result in material damage. Musalem highlighted that "Combined aeronautical and aeronautical service revenues increased by 12.8%," with aeronautical revenues up 12.6% in the quarter, mainly due to tariff increases. He added, "EBITDA increased by 7.5%, reaching MXN 5.1 billion," but EBITDA margin fell due to higher concession fees, increased headcount, and maintenance costs, as well as the hurricane's impact on Jamaica. Net income declined, which Musalem attributed to "higher financial expense and decrease in the interest income due to a lower cash average balance the FX effect as well as the lower interest rate." On strategic developments, Musalem announced, "the business combination between CBX and Terminal Assistant Agreement was approved," with the transaction in formalization and expected to enhance operational efficiency and value creation in the Cross Border Passenger segment. International expansion efforts were tempered, as Musalem stated, "The Parks & Cope standard process was ultimately canceled by the government," reiterating a disciplined approach to capital allocation. Musalem assured stakeholders regarding security events in Jalisco: "the Guadalajara and Puerto Vallarta Airport remain fully operational" and disruptions were limited and quickly resolved, with no anticipated further impact. Outlook Musalem projected, "Passengers traffic is expected to grow between 2% and 5%," for 2026, driven by route consolidation and possible increases in frequencies and capacity. Aeronautical revenues ar...
Most industrial ETFs offer broad baskets of large-cap conglomerates and defense primes. First Trust RBA American Industrial Renaissance ETF (NYSEARCA:AIRR) concentrates specifically on small- and mid-cap U.S. companies that build, move, and maintain physical infrastructure — contractors, electrical services firms, regional freight carriers, and specialty manufacturers that benefit most when domest...
Most industrial ETFs offer broad baskets of large-cap conglomerates and defense primes. First Trust RBA American Industrial Renaissance ETF (NYSEARCA:AIRR) concentrates specifically on small- and mid-cap U.S. companies that build, move, and maintain physical infrastructure — contractors, electrical services firms, regional freight carriers, and specialty manufacturers that benefit most when domestic industrial activity accelerates. The ... The Small Cap Industrial ETF That Has Crushed the S&P 50
SQUADRA Investments - Gestao de Recursos Ltda. initiated a new position in MercadoLibre (NASDAQ:MELI) , according to a February 17, 2026, SEC filing. According to a February 17, 2026, SEC filing , SQUADRA Investments - Gestao de Recursos Ltda. established a new stake in MercadoLibre, acquiring 89,656 shares. The estimated transaction value was $180.59 million, calculated using the average share pr...
SQUADRA Investments - Gestao de Recursos Ltda. initiated a new position in MercadoLibre (NASDAQ:MELI) , according to a February 17, 2026, SEC filing. According to a February 17, 2026, SEC filing , SQUADRA Investments - Gestao de Recursos Ltda. established a new stake in MercadoLibre, acquiring 89,656 shares. The estimated transaction value was $180.59 million, calculated using the average share price for the quarter. The fund’s quarter-end position in MercadoLibre was valued at $180.59 million, representing a net position change of the same amount. MercadoLibre, Inc. is a leading Latin American e-commerce and fintech platform, leveraging a broad ecosystem to drive digital commerce and financial inclusion in the region. The company combines marketplace, payments, and logistics infrastructure, enabling seamless transactions for millions of users. MercadoLibre's scale, technology-driven approach, and diversified service offerings position it as a key player in the rapidly growing digital economy of Latin America. Continue reading
natatravel/iStock via Getty Images Hecla Mining Update Data by YCharts This is an update on Hecla Mining ( HL ), a stock I last covered way back in December 2023 in my article, " Hecla Mining: A Silver Lining In A Tough Industry ." At the time, the stock was $5 per share, with silver stuck in the low-$20s range, and I felt investors were ignoring silver producers like Hecla in favor of gold miners...
natatravel/iStock via Getty Images Hecla Mining Update Data by YCharts This is an update on Hecla Mining ( HL ), a stock I last covered way back in December 2023 in my article, " Hecla Mining: A Silver Lining In A Tough Industry ." At the time, the stock was $5 per share, with silver stuck in the low-$20s range, and I felt investors were ignoring silver producers like Hecla in favor of gold miners ( GDX ). My thesis at the time: Hecla's strong asset base was worth more than the market's value, and a recovery in silver prices would significantly boost its cash flows. That call worked out well: HL has delivered roughly 380% returns since then, beating the S&P 500’s 60% gain over the same period. Silver's massive move higher has a lot to do with that, for sure. Gold’s surge above $5,000 also helps. But I have to give Hecla credit for executing their game plan and giving me one of my best stock calls. Yet, investors reading about Hecla today care far more about future upside potential than past gains. I'm not going to spend any more time talking about past share price gains. The question is, does the stock offer enough upside to justify holding (or buying) here? I feel the risk/reward has shifted materially, and there are better places to put your silver dollars right now, as I argue below. 2025: The Year Everything Clicked The Q4 and full-year 2025 results impressed. Here's a look at its results. Hecla Mining For 2025, silver production hit 17 million ounces, a 20% increase year-over-year and the high end of guidance, which is obviously great to see. Gold production came in at 151,000 ounces, slightly above guidance. AISC for silver was $11.28 per ounce (after by-product credits), leading to pretty healthy margins. But the financial transformation is where it gets interesting, as Hecla's free cash flow increased by more than 50x compared to 2024. Metric FY 2025 FY 2024 Revenue ~$1.4 billion ~$880 million Silver Production (Moz) 17.0 14.2 Gold Production (Koz) 151 ~148 ...
Among the NYSE and Nasdaq stocks hitting new 52-week highs on Tuesday were three high-flying consumer staples stocks. While they’re all great businesses, their valuations have gotten ahead of themselves. Replace them with these Mag 7 Upgrades.
Among the NYSE and Nasdaq stocks hitting new 52-week highs on Tuesday were three high-flying consumer staples stocks. While they’re all great businesses, their valuations have gotten ahead of themselves. Replace them with these Mag 7 Upgrades.
President Donald Trump said during the State of the Union address that tech companies will provide their own power for AI data centers — but energy experts say things are not that simple.
President Donald Trump said during the State of the Union address that tech companies will provide their own power for AI data centers — but energy experts say things are not that simple.
Scott Olson/Getty Images News With uncertainty surrounding the U.S. beer consumption outlook and the potential for continued softness, BofA Securities cut Molson Coors ( TAP ) to Underperform from Neutral, flagging profit risks tied to the company’s high fixed-cost structure. After reporting fourth quarter results – which showed a decline in profit and sales—BofA Securities analyst Peter Galbo fou...
Scott Olson/Getty Images News With uncertainty surrounding the U.S. beer consumption outlook and the potential for continued softness, BofA Securities cut Molson Coors ( TAP ) to Underperform from Neutral, flagging profit risks tied to the company’s high fixed-cost structure. After reporting fourth quarter results – which showed a decline in profit and sales—BofA Securities analyst Peter Galbo found the results to be weaker than expected and provided investors with limited visibility into stabilizing volumes. The downgrade reflects not only the likelihood for further losses in the beer category but also the “outsized” impact on TAP’s earnings given its high fixed asset footprint. “We estimate every 0.25% decline in shipments drives roughly $0.06 of EPS reduction,” Galbo writes, which accounts for predictions for FY26 to drop 15% year-over-year and a revision to FY27 EPS guidance to $4.70 from $5.68, reflecting “weak industry dynamics and continued share loss.” “While TAP’s network modernization efforts have improved flexibility, volume risk remains the dominant driver of earnings volatility,” Galbo says. Within the company’s fourth quarter results was recognition that “challenging industry dynamics and rising commodity input costs” have pressured TAP’s bottom-line. And at the company’s CAGNY presentation, Molson Coors ( TAP ) reiterated its outlook for sales to be flat to down 1% from a year ago, driving net income down 15% to 18%. Since reporting fourth quarter results last week, shares of Molson Coors ( TAP ) have lost 7% in value. More on Molson Coors Molson Coors: Results Were Not Refreshing Molson Coors Beverage Company (TAP) Presents at Consumer Analyst Group of New York Conference 2026 - Slideshow Molson Coors Beverage Company (TAP) Presents at Consumer Analyst Group of New York Conference 2026 Transcript Molson Coors Non-GAAP EPS of $1.21 beats by $0.06, revenue of $2.66B misses by $50M Molson Coors Q4 2025 Earnings Preview
Alerian MLP ETF (NYSEARCA:AMLP) offers income investors exposure to midstream energy infrastructure through a portfolio of Master Limited Partnerships. With a current price of $51.79 and trailing annual distributions of roughly $3.93 per share, the fund yields approximately 7.6%. But understanding how the fund works and what risks sit underneath it is essential context. How ... Retirees Are Watchi...
Alerian MLP ETF (NYSEARCA:AMLP) offers income investors exposure to midstream energy infrastructure through a portfolio of Master Limited Partnerships. With a current price of $51.79 and trailing annual distributions of roughly $3.93 per share, the fund yields approximately 7.6%. But understanding how the fund works and what risks sit underneath it is essential context. How ... Retirees Are Watching AMLP as Natural Gas Prices Briefly Hit Highest Price in Years
Coller Capital , a secondaries firm, agreed to buy $477 million of assets from New Mountain Finance Corp. as the private credit fund looked to boost its financial flexibility. The publicly traded business development company disclosed Tuesday that it had sold full or partial investments in 15 of its portfolio companies at 94% of fair value as of Dec. 31. Chief Executive Officer John Kline told inv...
Coller Capital , a secondaries firm, agreed to buy $477 million of assets from New Mountain Finance Corp. as the private credit fund looked to boost its financial flexibility. The publicly traded business development company disclosed Tuesday that it had sold full or partial investments in 15 of its portfolio companies at 94% of fair value as of Dec. 31. Chief Executive Officer John Kline told investors Wednesday that the assets were sold to “a newly formed vehicle backed by Coller Capital.” “The portfolio is comprised of many of our largest positions,” he said on an earnings call, adding that 33% were software-related companies. Executives said pricing represented a normal discount for a transaction of its size.
Peter Wardley and Tom Moore remind us of historical royal troubles. Plus letters from Agama Cunningham, Chris Edwards , Ian Reader and Derrick Cameron Simon Jenkins says that, apart from two fines paid by Princess Anne (one for an uncontrolled dog, the other for speeding), researchers into royal quarrels with the law have to go back to Charles I and Mary, Queen of Scots ( Stripped of finery, detai...
Peter Wardley and Tom Moore remind us of historical royal troubles. Plus letters from Agama Cunningham, Chris Edwards , Ian Reader and Derrick Cameron Simon Jenkins says that, apart from two fines paid by Princess Anne (one for an uncontrolled dog, the other for speeding), researchers into royal quarrels with the law have to go back to Charles I and Mary, Queen of Scots ( Stripped of finery, detained by police as an ordinary citizen: now Andrew enters a new era – and Britain too, 19 February ). Leaving aside less serious brushes with law, often over property rights, there are two cases of major legal significance that he fails to note – in neither were the consequences confined within the British Isles. Continue reading...
Prof Robin Simon on the charity’s visionary founder, Fred Hohler I was pleased to see Art UK’s achievements mentioned in your article, but astonished that it only featured its new chair and not the remarkable man who made it all possible ( ‘We’ve scratched the surface’: mission to digitise UK public art reaches 1m entries, 23 February ). I refer to Fred Hohler, who established the Public Catalogue...
Prof Robin Simon on the charity’s visionary founder, Fred Hohler I was pleased to see Art UK’s achievements mentioned in your article, but astonished that it only featured its new chair and not the remarkable man who made it all possible ( ‘We’ve scratched the surface’: mission to digitise UK public art reaches 1m entries, 23 February ). I refer to Fred Hohler, who established the Public Catalogue Foundation, a charity the work of which is now online under its registered trademark – Art UK. Hohler’s aim was inspired: to record every oil painting in every public collection in the UK. Having achieved that, he is now directing an even larger project with a similar aim, The Watercolour World, which is a charity under the patronage of the king and queen. Prof Robin Simon Editor, British Art Journal Continue reading...
Ana Beard says we should all connect more with colour as it is multidisciplinary and you can engage with it at any level I was with Francesca Newton most of the way ( The 60-second rule? Colour theory? Yet more ways we’re supposed to live our lives, 21 February ). There is too much noise online, and if Francesca mostly wears black, good. But the truth is multifaceted. Connecting with colour is a j...
Ana Beard says we should all connect more with colour as it is multidisciplinary and you can engage with it at any level I was with Francesca Newton most of the way ( The 60-second rule? Colour theory? Yet more ways we’re supposed to live our lives, 21 February ). There is too much noise online, and if Francesca mostly wears black, good. But the truth is multifaceted. Connecting with colour is a joyful way to resist the pervasive, racist and misogynistic chromophobia that has tainted the west for hundreds of years. I enjoy the Colour Me Beautiful movement, but I’ll still wear pink even if it doesn’t “suit” me. Continue reading...