Getty Images One insurance giant that has been on my watchlist for a few years now, ever since I began writing on the Seeking Alpha platform, just had its recent earnings results this week and so deserves follow-up coverage. American International Group, Inc. ( AIG ), or better known as the AIG brand, has beaten estimates now for several quarters in a row. Since my very first article on this stock in July 2023, when I recommended to buy, it is up around +29%. At the time I was motivated by its dividend story and strong financial condition, although in subsequent follow ups I pulled back slightly to a neutral view. This NYC-based insurer falls into the niche of property & casualty (P&C), and it operates through three segments: North America Commercial; International Commercial; and Global Personal. Today's follow-up includes new data and additional angles not considered in my very first coverage, to provide an even more holistic approach this time. Thesis Summary: Hold/Neutral My thesis today actually reaffirms my most recent AIG coverage from last October which recommended a hold, and also agrees with this week's SA quant system rating and the SA analyst consensus, both of which are less bullish than Wall Street. Here is a worksheet summarizing what drove my score: AIG - rating worksheet (author) Today's article argues that despite strong credit ratings, operating margins, and an attractive dividend case, there are considerable macro headwinds in the P&C sector to consider, as well as some weaker competitive metrics vs. key peers, technical charting showing a neutral pattern, and my price forecast implying very little further upside in the near term. Macro & Sector Outlook: Neutral The insurance business is actually easier to understand than it first looked when I was new to this sector. New insurance policies sold this year can drive future income from premiums, driving future upside, and excess cash the insurer invests into a fixed-income portfolio can drive futur...

GFL Environmental press release ( GFL ): Q4 Non-GAAP EPS of C$0.36. Revenue of C$1.69B (+7.6% Y/Y). More on GFL Environmental Inc. GFL Environmental Q4 2025 Earnings Preview GFL Environmental relocates executive headquarters to the U.S. Seeking Alpha’s Quant Rating on GFL Environmental Inc. Historical earnings data for GFL Environmental Inc. Dividend scorecard for GFL Environmental Inc.

Maksim Labkouski PennyMac Financial Services ( PFSI ) agreed to acquire Cenlar Capital's subservicing business, mainly consisting of subservicing contracts and mortgage servicing operations, in an all-cash transaction for an upfront purchase price of $172.5M, the company said on Wednesday. The company may pay up to $85M of contingent payments payable over three years. Based on Cenlar's current portfolio, the acquisition is expected to add up to $740B in unpaid principal balance of mortgage loan subservicing and 2M loans to its servicing portfolio, bringing PennyMac's ( PFSI ) total portfolio to more than $1T in UPB. "Upon completion of this acquisition, Pennymac will become the second largest mortgage servicer overall and one of the largest subservicers in the U.S.," said PennyMac Chairman and CEO David Spector. The deal is expected to close in H2 2026. PennyMac Financial ( PFSI ) stock rose 0.5% in after-hours trading. More on PennyMac Financial PennyMac Financial Services, Inc. 2025 Q4 - Results - Earnings Call Presentation PennyMac Financial Services, Inc. (PFSI) Q4 2025 Earnings Call Transcript PennyMac shares sink 22% after earnings miss, margin outlook pressured PennyMac projects operating ROE to reach mid- to high teens in 2026 with full Vesta deployment Seeking Alpha’s Quant Rating on PennyMac Financial

McDonald's Corporation ( MCD ) rallied on Wednesday after recording its best quarter of the year. Global comparable sales rose 5.7% in Q4 and were up 6.8% in the U.S. Notably, the restaurant chain added market share during the quarter without seeing a decline in operating income. CEO Chris Kempczinski pointed to the market share improvement with lower-income consumers in December as its value menu offerings resonated. He noted that the chain is committed to not being beat on value and affordability. It was also noted that the Minecraft promotion and demand for Grinch collectibles both drove traffic. The U.S. comparable sales tally was said to be boosted by marketing initiatives, including the Monopoly event and the Grinch meal. The Big Arch was noted to be a strong menu offering in select markets where it is being tested. McDonald's ( MCD ) plans to keep adding new beverage options after seeing strong results. On the development front, McDonald's ( MCD ) said the chain is still on track for 50K global restaurants by the end of 2027. New restaurant openings were noted to be accelerating. On Wall Street, RBC Capital Markets analyst Logan Reich highlighted that McDonald's ( MCD ) traffic and value & affordability scores improved in the quarter, which the firm thinks are key aspects of the bull thesis. Shares of McDonald's ( MCD ) were down 0.5% in postmarket action after an initial post-earnings rally. More on McDonald's McDonald's: Getting Ready For The Next Cash Flow Test McDonald's: The Risk Of A Fast-Food Pricing War Is Increasing Significantly McDonald's: A Sleeping Giant That Isn't Waking Up Yet McDonald's gains after seeing comparable sales pop in Q4 McDonald's Q4 earnings on deck: What to expect

MSA Safety press release ( MSA ): Q4 Non-GAAP EPS of $2.38 beats by $0.12 . Revenue of $511M (+2.2% Y/Y) beats by $2.9M . More on MSA Safety MSA Safety: Should Prove A Rewarding Investment Why MSA Safety's Strategy Matters More Than The Cycle Seeking Alpha’s Quant Rating on MSA Safety Historical earnings data for MSA Safety Dividend scorecard for MSA Safety

Jennifer McKeown, Chief Global Economist at Capital Economics, looks ahead to the US jobs report and the outlook for rates with Bloomberg's Vonnie Quinn on 'Bloomberg Brief.' (Source: Bloomberg)

tadamichi/iStock via Getty Images Investment Outlook Appian ( APPN ) is seeking to shake off concerns about its vulnerability to generative AI technology disruption. I previously analyzed APPN in April 2025 with a Hold outlook due to lower forward growth expectations. The firm continues to integrate generative AI technologies thoughtfully and appears to be gaining client interest in them, so near-term vulnerability to disruption from below may be muted. With Appian now producing positive earnings, albeit on slower topline revenue growth, my outlook remains a neutral Hold as it seeks to navigate a transition to an AI-centric platform. Appian’s Market and Approach APPN provides a variety of low-code software solutions to organizations worldwide. According to a 2024 market research report by Grand View Research, the global low-code software platform market was around $24.8 billion in 2023 and was expected to exceed $101 billion by 2030. If achieved, this growth would represent a 22.5% CAGR from 2024 to 2030. The primary reasons for this projected growth rate are the growing demand by enterprises for faster IT iteration capabilities, increasing versatility and feature capabilities by vendor offerings. The adoption of low- and no-code platforms will also help customers deal with the challenges of talent shortage in software development. The global low-code development platform market’s historical and projected future growth path by region is shown below: Grand View Research Competitors and other significant industry players include: Salesforce ( CRM ) Microsoft ( MSFT ) Mendix (Siemens) Outsystems ServiceNow ( NOW ) Pegasystems ( PEGA ) A breakdown of Appian’s revenue contribution by segment and region is presented in the pie chart graphic here: SEC Recent Financial Trends Topline revenue (blue columns) has shown continued growth despite some challenges with US federal government work and net revenue retention. Operating results (red line) improved on reduced SG&A and R&...

格隆汇2月12日｜美国总统特朗普：由于关税，贸易逆差下降了78%。

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格隆汇2月12日｜据美媒报道，摩根士丹利将首席执行官Ted Pick 2025年的薪酬提高至4500万美元。文件显示，他奖金的四分之三将递延三年支付，且所有的递延激励均以股权奖励的形式发放。摩根士丹利在2025年创下了历史最佳业绩，每股收益达到纪录高位。得益于进军债务资本市场，该公司为与人工智能热潮相关的项目筹措了资金。2025年，摩根士丹利股价飙升41%，超过了标普500指数16%的涨幅。其他华尔街高管的薪酬也大幅增长。高盛将首席执行官所罗门的薪酬提高了21%至4700万美元。富国银行将Charlie Scharf的薪酬上调了28%至4000万美元。而摩根大通的戴蒙的薪酬则增长了10%，达到4300万美元。

海關：去年私煙案佔七成半 2.7萬入境旅客口岸被捕 跨境學童成偷運「工具」 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】海關總結去年執法行動有逾3.8萬宗，比前年增加兩成四，涉及私煙的案件仍然佔最多，達七成半。海關形容走私方法層出不窮，包括利用跨境學童偷運私煙。 海關偵破約2.9萬宗私煙案件，比前年升近四成，主要因為入境人士攜帶超額免稅香煙大幅上升，單是在口岸被捕的入境旅客就有2.7萬人，形容走私方式是「螞蟻搬家」。海關關長陳子達：「旅客收藏私煙的方式可以說是層出不窮，例如將私煙包裹在身上面或收藏在內衣，亦有利用輪椅或嬰兒車收藏私煙過關，甚至有家長利用跨境學童偷運私煙。」 去年毒品案有961宗，比前年跌近三成，但檢獲毒品量上升，主要涉及大麻、冰毒和氯胺酮，海關亦首次偵破水底的藏毒案。陳子達：「首次偵破一宗利用遠洋輪船的吸水口，在水底內的藏毒販毒案，417公斤的可卡因市值2.56億元，利用不同先進工具偵察毒品，今次案件就利用潛水機械人。」 陳子達說海關會繼續守護國家南大門，全方位堵截各類型的走私，打擊私煙和毒品活動。

格隆汇2月12日｜美联储哈玛克：美国政府债务正走在一条不可持续的道路上，必须加以解决。

On February 1, Robert Tinney, the illustrator whose airbrushed cover paintings defined the look and feel of pioneering computer magazine Byte for over a decade, died at age 78 in Baker, Louisiana, according to a memorial posted on his official website. As the primary cover artist for Byte from 1975 to the late 1980s, Tinney became one of the first illustrators to give the abstract world of personal computing a coherent visual language, translating topics like artificial intelligence, networking, and programming into vivid, surrealist-influenced paintings that a generation of computer enthusiasts grew up with. Tinney went on to paint more than 80 covers for Byte, working almost entirely in airbrushed Designers Gouache , a medium he chose for its opaque, intense colors and smooth finish. He said the process of creating each cover typically took about a week of painting once a design was approved, following phone conversations with editors about each issue's theme. He cited René Magritte and M.C. Escher as two of his favorite artists, and fans often noticed their influence in his work. Read full article Comments

格隆汇2月12日｜美国总统特朗普：美国正在向世界各地出口煤炭。

alvarez/E+ via Getty Images AAR Corp. ( AIR ) on Wednesday said its board has appointed Dylan Wolin as chief financial officer, effective February 23. Wolin will oversee finance, accounting, tax, treasury, investor relations and corporate development. He returns to AAR ( AIR ) after serving as president of several specialty vehicle businesses at Federal Signal Corp. from 2024 to 2026. Dylan Wolin (AAR Corp.) Wolin previously worked at AAR from 2017 to 2024, where he led strategy, corporate development, treasury and investor relations. During that period, he was involved in the company’s portfolio repositioning and acquisitions including Trax and Triumph Product Support. Earlier in his career, Wolin held roles in corporate development at Boeing and investment banking at Deutsche Bank. He began his career at advisory firm McManus & Miles. He holds a bachelor’s degree in economics from Tufts University and an MBA in finance from the Wharton School at the University of Pennsylvania. Chairman, President and Chief Executive John M. Holmes said Wolin played a key role in shaping the company’s current strategy and brings additional operational experience from his time at Federal Signal. Wolin said he looks forward to working with AAR’s leadership team to continue executing the company’s growth plans. Sarah Flanagan, who has been serving as interim chief financial officer, will return to her prior role as vice president of financial operations on February 23. AAR said it is reaffirming its financial guidance for the third fiscal quarter and full fiscal year previously issued on January 6. More on AAR AAR Corp.: Well Positioned To Capitalize On Current Demand/Supply Dynamic AAR Corporation: A Quality Aerospace Stock Still Trading Below What It Deserves AAR Corp. 2026 Q2 - Results - Earnings Call Presentation AAR appoints new CFO, reaffirms Q3 guidance V2X gains as overhang removed as T-6 protest denied by court - analyst

美国总统特朗普兜售贸易赤字缩小，称：下一年将转正（扭转为贸易盈余/贸易顺差）。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

Brazil mulls assigning beef export quotas for exporters dealing with China, official says Reuters

NiSource NYSE: NI executives emphasized customer affordability, disciplined capital deployment, and expanding large-load opportunities while reporting higher fourth-quarter and full-year adjusted earnings and reaffirming 2026 guidance during the company’s fourth-quarter 2025 earnings call. Get NiSource alerts: Sign Up Fourth-quarter results and full-year performance NiSource reported fourth-quarter 2025 adjusted earnings of $0.51 per share, up from $0.49 in the year-ago period. For full-year 2025, the company posted adjusted EPS of $1.90, compared with $1.75 in 2024. Management said 2025 results were supported by “disciplined capital allocation and cost management,” with outperformance driven by financial management of capital, better-than-expected financing costs, retail sales outperformance, and “constructive regulatory execution” across its states. These factors were partially offset by higher operating and interest expenses. The company also highlighted balance sheet performance. NiSource reported FFO to debt of 16.1% for 2025, which it said exceeded its targeted range and improved by 150 basis points. The company attributed the result to internally generated cash flows from capital execution, equity issuance through its at-the-market program, junior subordinated note issuance, and higher-than-typical cash flow receipts tied to above-normal weather conditions. Management noted weather effects contributed about 70 basis points to full-year FFO to debt, with a portion expected to be passed back to customers in 2026 through regulatory mechanisms. Guidance reaffirmed; dividend increased NiSource reaffirmed 2026 consolidated adjusted EPS guidance of $2.02 to $2.07. CFO Shawn Anderson said the range reflects roughly 8% year-over-year growth versus 2025 and includes a base business outlook of $2.01 to $2.05 plus an expected $0.01 to $0.02 contribution from GenCo as it begins to ramp in 2026. Management also reiterated its longer-term framework, citing an expected 8% to...

KanawatTH/iStock via Getty Images I doubt that you will ever find a bigger bear when it comes to Bitcoin USD ( BTC-USD ) than I am. I have long viewed it as destined to fail. In one previous article , for instance, I discussed how the cryptocurrency's collapse was imminent. In a subsequent article , I compared it to gold and debunked the claims that it is similar to that precious metal. In my most recent article about it, published in October of last year, I said that Bitcoin’s bulls have lost but that they just don't know it yet. At its core, the cryptocurrency does not behave like real money. It doesn't have anything backing it that would make it anything other than a faux asset. And the fact that it lacks intrinsic value means that it is ultimately destined to collapse. Since my last article about it, the cryptocurrency has plummeted by 36.6%. This is at a time when the S&P 500 is up 2.9%. Year to date, it's down 20.8%. And that's even after experiencing an 11.8% rebound on February 6th. Although I will not sit here and tell you that there aren't some arguments for short-term support, I do believe that the data is increasingly aligning with my previous arguments. I'm not saying that Bitcoin will collapse in the next year. It could take longer than that. The way I view it, it is much more likely to be resilient than other irrational bubbles simply because of the magnifying impact that technology has on its existence. Ultimately, however, I am confident in my bearish stance. And I do believe that, above all other investment opportunities I have looked at in the last several years, it is certainly the most deserving to plummet. 2026 Is A Bloodbath So Far As I mentioned at the start of this article, the last several months have not been a good time for shareholders of Bitcoin. This year alone, the cryptocurrency is down significantly. Those who are bullish about Bitcoin will argue, rightfully so, that there have been windows of time where prices have plunged. They wi...

Klaus Vedfelt/DigitalVision via Getty Images The Trump administration is preparing to appeal a series of court rulings that blocked efforts to stop construction of offshore wind farms, Interior Secretary Doug Burgum told Bloomberg on Wednesday. U.S. Secretary of the Interior Burgum said in an interview that the administration's crackdown on the industry is not an "ideological attack" but a "real, genuine concern" about national security risks, claiming the offshore wind farms could interfere with radar systems and make the U.S. more vulnerable to drone attacks. U.S. judges have overturned five orders from President Trump to halt work on multi-billion-dollar offshore wind projects, with the most recent ruling occurring last week involving a project off Long Island being developed by Ørsted ( DNNGY ). T he same D.C.-based district judge previously allowed Ørsted to resume work on its Revolution Wind project off Rhode Island; other projects by Dominion Energy ( D ), Equinor ( EQNR ) and Iberdrola ( IBDSF ) ( IBDRY ), also have prevailed in court. ETF: ( FAN ) More on Equinor and Dominion Energy Equinor: Among Our Favorite Mega Cap Oil Companies Dominion Energy: Coastal Wind Moving Forward With A Strong Portfolio Dominion Energy: The Coastal Offshore Wind Speed Bump

Key Points In November, the CEOs of Goldman Sachs and Morgan Stanley helped kick off overvaluation fears when they forecast a market correction. In the months since, tech companies have sold off on even the slightest whiff of bad news. However, while share prices have moved one way, earnings have moved another. These 10 stocks could mint the next wave of millionaires › On Nov. 4, 2025, fears of a crash gripped Wall Street as the CEOs of Goldman Sachs and Morgan Stanley warned that the market was due for a correction. At a financial summit, Goldman Sachs CEO David Solomon said that a drawdown of 10% to 20% over the next year or two was likely, while Morgan Stanley CEO Ted Pick said at the same conference that a 10% to 15% drawdown would be healthy. All three major indexes plunged on their comments, with the tech-heavy Nasdaq Composite taking the most pain with a 2% dip. In the three months since, Wall Street appears to have internalized their warnings, with analysts seeming to comb through earnings reports for the major tech companies in search of signs that shares are overvalued. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » Last month, for instance, Microsoft's (NASDAQ: MSFT) share price fell by 10% despite the company reporting a 60% year-over-year jump in profits, partly because analysts thought that the 39% year-over-year growth of its cloud services segment was too low. The next week, traders punished Amazon (NASDAQ: AMZN) with an 8% haircut for missing its earnings estimates by $0.02 a share, with earnings per share coming in at $1.95 compared to the $1.97 expected. Concerns over these companies' robust spending plans on artificial intelligence (AI) infrastructure also played a role, and some tech giants like Meta Platforms (NASDAQ: META) rose on well-received earnings reports. But overall, it seems that big tech is on probation with Wall...

Micron Technology Options Spot-On: On February 11th, 577.12K Contracts Were Traded, With 2.21 Million Open Interest 富途牛牛

周三美股成交额第1名英伟达收高0.78%，成交273.57亿美元。 瑞银 将英伟达公司目标股价从235美元上调至245美元。 高盛 在最新报告中上调了英伟达2026财年第四季度业绩预期，并维持250美元目标价，强调2027年营收可见性是关键催化剂。机构评级显示，超九成分析师给予“买入”或“增持”观点，目标均价260.26美元，反映了市场对AI算力需求的乐观预期。但高盛也提示了AI基础设施投资放缓、竞争加剧等风险。 第2名 特斯拉 收高0.80%，成交243.43亿美元。据报道，特斯拉副总裁拉吉-杰加纳坦当地时间2月9日在LinkedIn上宣布离职，结束了13年的特斯拉生涯。这是马斯克麾下公司近期高管离职潮中的最新一例。在此之前，特斯拉和xAI公司已有多名核心高管先后离开。 杰加纳坦写道：“在一篇帖子里概括13年并不容易。我在特斯拉的旅程就像一个不断进化的过程。当我离开时，我怀着感恩的心和对未来的兴奋。” 第3名 美光 收高9.94%，成交190.6亿美元。 摩根士丹利 周三将该股目标价从350美元上调至450美元，同时维持对这家存储芯片制造商股票的“增持”评级。 这一新目标价高于美光周三收盘价410.34美元的交易价格，并与分析师的普遍看好观点一致。公开数据显示，多位分析师对该股的平均评级为1.56（强烈买入）。 第4名 微软 收跌2.15%，成交166.55亿美元。据媒体报道，盖茨基金会主席比尔-盖茨2月11日傍晚意外现身上海张江，出席了一场名为“行动创造希望”的活动。 此次访问是盖茨继2023年6月之后，时隔约两年半再次到访中国。 盖茨在专访中直面了围绕他与爱泼斯坦关系的争议，盖茨澄清道，“在2011年到2014年之间，我确实与爱泼斯坦吃过几次晚餐，但关于这件事，其实并没什么新的内容可以补充。我从未接触过任何受害者，也从未去过他的岛屿”。 第5名 谷歌 A类股（GOOGL）收跌2.39%，成交140.44亿美元。据报道，谷歌正在新增一种功能，让消费者在搜索引擎和其Gemini聊天机器人中获取人工智能驱动的答案时，可以直接购买商品。这是其整体计划的一部分，旨在更直接地从用户使用人工智能的过程中实现变现。 该公司在周三致广告圈的信函中表示，其谷歌搜索的AI模式正在测试新型广告格式，允许零售商及其他广告商在此展示商品。谷歌表示，用户现可在Gemini内直接购买Etsy...

Primaris Real Estate Investment Trust press release ( PMREF ): Q4 Adjusted funds from operations per unit of C$0.35. Rental revenue of C$188.3M (+31.5% Y/Y). More on Primaris Real Estate Investment Trust Seeking Alpha’s Quant Rating on Primaris Real Estate Investment Trust Historical earnings data for Primaris Real Estate Investment Trust Dividend scorecard for Primaris Real Estate Investment Trust Financial information for Primaris Real Estate Investment Trust

Darling Ingredients press release ( DAR ): Q4 GAAP EPS of $0.35 in-line. Revenue of $1.71B (+22.1% Y/Y) beats by $180M . Shares -1.25% AH. More on Darling Ingredients Darling Ingredients: A Circular Economy Leader Mispriced By Cyclical Pressures Darling Ingredients Q4 2025 Earnings Preview Darling Ingredients to sell $50M in additional tax credits Seeking Alpha’s Quant Rating on Darling Ingredients Historical earnings data for Darling Ingredients

AppLovin reported solid fourth-quarter earnings Wednesday afternoon. Earnings per share were $3.24, ahead of Wall Street’s consensus estimate of $2.95. AppLovin has an ad platform that facilitates ads surrounding mobile apps, especially games, one of the last untamed wildernesses of digital advertising.