Emerging market stocks extended gains for a fourth day, helped by a surge in technology stocks from South Korea . The MSCI’s emerging market equity index rose 0.6% on Thursday. The Kospi, a bellwether for artificial intelligence sentiment, hit a fresh record, led by Samsung and SK Hynix Inc . Meanwhile, an index of emerging market currencies rose 0.3%. In currencies, South Africa ’s rand was stead...
Emerging market stocks extended gains for a fourth day, helped by a surge in technology stocks from South Korea . The MSCI’s emerging market equity index rose 0.6% on Thursday. The Kospi, a bellwether for artificial intelligence sentiment, hit a fresh record, led by Samsung and SK Hynix Inc . Meanwhile, an index of emerging market currencies rose 0.3%. In currencies, South Africa ’s rand was steady against the dollar ahead of a state of the nation address later today by President Cyril Ramaphosa . Hungary ’s forint slipped after inflation data showed increased room for interest rate cuts. In credit markets, foreigners are piling into Zambia’s local currency bonds as global investors seek to rotate out of US assets into high yielding investments. The Republic of Congo became the third sovereign in Africa this year to tap global debt markets and made a return with a $700 million sale, just three months after first coming to market.
Seiya Tabuchi/iStock via Getty Images The general tone in the foreign exchange market is one of consolidation after yesterday’s stronger-than-expected January jobs data injected volatility into dollar trading. The news stream is light, and tomorrow the US reports January CPI. Japan’s markets re-opened after yesterday’s holiday and extended the yen’s recovery marginally and the JGB rally. As JPY152...
Seiya Tabuchi/iStock via Getty Images The general tone in the foreign exchange market is one of consolidation after yesterday’s stronger-than-expected January jobs data injected volatility into dollar trading. The news stream is light, and tomorrow the US reports January CPI. Japan’s markets re-opened after yesterday’s holiday and extended the yen’s recovery marginally and the JGB rally. As JPY152 has been approached, we suspect the short squeeze that has lifted the yen since the weekend election has run its course, or nearly so. Meanwhile, Chinese officials have done little to deter the market from gradually driving the yuan higher. The dollar finished last year slightly below CNY6.99 and is threatening to slip through CNY6.90. The UK economy eked out 0.1% growth in Q4, but the December data were weak, and the market remains confident of a rate hike in March-April. While next Friday is a decision day for the US Supreme Court, where a ruling on the US President’s use of emergency powers to impose widespread tariffs, Congress is gradually trying to curb the powers as well. With the help of several Republicans, the House narrowly passed a bill to overturn the fentanyl tariffs on Canada. This is not the real thing, and the Canadian dollar has barely reacted. The next two hurdles to turning the bill into law are formidable: approval by the Senate and then signing by the President. Unlikely. Prices G10 • The stronger-than-expected US January jobs report caught the market leaning the wrong way. The euro, which had been hovering around $1.19, was immediately dropped about 2/3 of a cent. It recovered choppily until Europe went home, and then the euro was bid to the post-data high near $1.1890. While the euro’s recovery was notable, it stalled a little below $1.1930 for the third consecutive session. The euro is consolidating within a roughly 20-tick range on either side of $1.1870. • The powerful yen short squeeze was momentarily disrupted by the US jobs report, but within ...
Kelly Services press release ( KELYA ): Q4 Non-GAAP EPS of $0.16 misses by $0.27 . Revenue of $1.05B (-11.8% Y/Y) beats by $20M . First Quarter of 2026 – Expect Q1 to look similar to Q4, with revenue declining between 11% to 13% year-over-year, or between 3% to 5% on an underlying basis excluding discrete customer impacts, and adjusted EBITDA margin of approximately 1.5%, which includes the impact...
Kelly Services press release ( KELYA ): Q4 Non-GAAP EPS of $0.16 misses by $0.27 . Revenue of $1.05B (-11.8% Y/Y) beats by $20M . First Quarter of 2026 – Expect Q1 to look similar to Q4, with revenue declining between 11% to 13% year-over-year, or between 3% to 5% on an underlying basis excluding discrete customer impacts, and adjusted EBITDA margin of approximately 1.5%, which includes the impact of annual payroll tax resets. Remainder of Year – Assuming no new material impacts, expect relative improvement in year-over-year performance each successive quarter for both revenue and adjusted EBITDA margin resulting in modest year-over-year revenue growth and measurable adjusted EBITDA margin expansion in the second half of the year. Shares -1.6% PM. More on Kelly Services Kelly Services: I'm Upgrading On A Beaten-Down Valuation Kelly Services Q4 2025 Earnings Preview Seeking Alpha’s Quant Rating on Kelly Services Historical earnings data for Kelly Services Dividend scorecard for Kelly Services
Sundry Photography/iStock Editorial via Getty Images US Foods Holding Corp. ( USFD ) reported revenue rose 3.2% year-over-year to $9.8B, falling just short of the consensus estimate of $9.9B. Total case volume increased 0.8% from a year ago, driven by a 4.1% increase in independent restaurant case volume, a 2.9% increase in healthcare volume, and a 3.1% increase in hospitality volume, partially of...
Sundry Photography/iStock Editorial via Getty Images US Foods Holding Corp. ( USFD ) reported revenue rose 3.2% year-over-year to $9.8B, falling just short of the consensus estimate of $9.9B. Total case volume increased 0.8% from a year ago, driven by a 4.1% increase in independent restaurant case volume, a 2.9% increase in healthcare volume, and a 3.1% increase in hospitality volume, partially offset by a 3.4% decrease in chain volume. Total organic case volume increased 0.3%, which includes 3.7% organic independent restaurant case volume growth. Adjusted gross profit was up 3.6% to $1.7B. Adjusted gross profit as a percentage of sales was 17.6%. Non-GAAP EPS was reported at $1.04 vs. $1.01 consensus and $0.84 a year ago. Adjusted EBITDA was up 11.1% to $490M "We delivered these strong results despite a softer economic environment by continuing to focus on controlling the controllables, namely capturing incremental market share across our target customer types and executing our operational excellence and productivity initiatives," highlighted CEO Dave Flitman. Looking ahead, US Foods ( USFD ) expects full-year net sales growth of 4% to 6% and adjusted EBITDA growth of 9% to 13%. Adjusted diluted EPS growth of 18% to 24% is anticipated for the year. "As we enter 2026, our momentum reflects the extraordinary dedication and focus of our 30,000 associates to serving our customers and creating shareholder value. We remain confident in our ability to achieve our long-range plan and deliver sustained double-digit adjusted EPS growth beyond 2027," noted Flitman. Shares of US Foods ( USFD ) were up 0.8% in premarket trading. More on US Foods US Foods Holding: Even Hitting Targets Doesn't Justify Strong Upside US Foods Holding Corp. (USFD) Presents at ICR Conference 2026 Transcript US Foods Holding Corp. (USFD) Presents at Morgan Stanley Global Consumer & Retail Conference 2025 Transcript US Foods reports mixed Q4 results; initiates FY26 outlook US Foods Q4 2025 Earnings Pre...
Seeking Alpha More on American Electric Power American Electric Power Company, Inc. (AEP) Presents at 12th Annual Leading the Charge: Power & Utility Conference - Slideshow American Electric Power: Unmatched Reach Make It A Buy The Reasons Why I Find American Electric Power Attractive Right Now (Rating Upgrade) American Electric Power Non-GAAP EPS of $1.19 beats by $0.05, revenue of $5.31B beats b...
Seeking Alpha More on American Electric Power American Electric Power Company, Inc. (AEP) Presents at 12th Annual Leading the Charge: Power & Utility Conference - Slideshow American Electric Power: Unmatched Reach Make It A Buy The Reasons Why I Find American Electric Power Attractive Right Now (Rating Upgrade) American Electric Power Non-GAAP EPS of $1.19 beats by $0.05, revenue of $5.31B beats by $130M American Electric Power Q4 2025 Earnings Preview
The UK government has intervened in Daily Mail & General Trust Plc ’s £500 million ($682 million) bid for the Telegraph Media Group , triggering regulatory probes into the newspaper deal. The Competition and Markets Authority and media regulator Ofcom will assess the acquisition after UK Culture Secretary Lisa Nandy issued a so-called Public Interest Intervention Notice on Thursday . The watchdogs...
The UK government has intervened in Daily Mail & General Trust Plc ’s £500 million ($682 million) bid for the Telegraph Media Group , triggering regulatory probes into the newspaper deal. The Competition and Markets Authority and media regulator Ofcom will assess the acquisition after UK Culture Secretary Lisa Nandy issued a so-called Public Interest Intervention Notice on Thursday . The watchdogs have until June 10 to report back. Nandy highlighted the “need for a sufficient plurality of views in each UK market for news media” as well as the “plurality of persons with control of media enterprises serving every different UK audience.” The move extends nearly three years of uncertainty over the newspaper publisher’s ownership. The Daily Mail owner reached a deal to buy the publisher of the Daily and Sunday Telegraph in November, after US private equity firm RedBird Capital Partners withdrew its offer amid backlash from the newspaper’s own staff. The takeover attempt by RedBird, founded by former Goldman Sachs banker Gerry Cardinale , followed a previous offer from RedBird IMI, a related UAE-backed vehicle, that unraveled. Widespread backlash against the original RedBird IMI deal led the previous Conservative government to introduce a law blocking foreign states from owning UK newspapers. A merger between DMGT and the Telegraph would combine two of the UK’s largest and most influential right-leaning media organizations, at a time when Nigel Farage ’s Reform UK leads national polling — ahead of Prime Minister Keir Starmer ’s Labour Party.
Belden press release ( BDC ): Q4 Non-GAAP EPS of $2.08 beats by $0.13 . Revenue of $720M (+8.1% Y/Y) beats by $23.03M . Revenues for the quarter increased $54 million, or 8%, to $720 million from $666 million in the year-ago period. Revenues increased 5% organically, with Automation Solutions up 10% and Smart Infrastructure Solutions flat. First Quarter 2026: Guidance Revenues (million) $675 - $69...
Belden press release ( BDC ): Q4 Non-GAAP EPS of $2.08 beats by $0.13 . Revenue of $720M (+8.1% Y/Y) beats by $23.03M . Revenues for the quarter increased $54 million, or 8%, to $720 million from $666 million in the year-ago period. Revenues increased 5% organically, with Automation Solutions up 10% and Smart Infrastructure Solutions flat. First Quarter 2026: Guidance Revenues (million) $675 - $690 GAAP EPS $1.21 - $1.31 Adjusted EPS $1.65 - $1.75 Click to enlarge Shares +0.5% PM. More on Belden Belden Inc. (BDC) Presents at Goldman Sachs Industrials and Materials Conference 2025 Transcript Belden Q4 2025 Earnings Preview Top 10 mid-cap stocks with the highest dividend safety grade Seeking Alpha’s Quant Rating on Belden Historical earnings data for Belden
CarMax ( KMX ) said Keith Barr will become president and CEO and join the board, effective March 16, 2026. Barr has more than 25 years of executive leadership experience and was most recently, CEO of InterContinental Hotels Group ( IHG ). David McCreight, who has been serving as interim president and CEO, will return to his role as an independent board member. Tom Folliard will remain interim exec...
CarMax ( KMX ) said Keith Barr will become president and CEO and join the board, effective March 16, 2026. Barr has more than 25 years of executive leadership experience and was most recently, CEO of InterContinental Hotels Group ( IHG ). David McCreight, who has been serving as interim president and CEO, will return to his role as an independent board member. Tom Folliard will remain interim executive chair until the company’s annual meeting in June 2026, after which he is expected to resume his role as non-executive chair. More on CarMax CarMax: Downgrade To Sell On Unjustified Valuation Multiple CarMax: No Competitive Advantages And Still Too Expensive CarMax: This Year Is A Wash, Speculative For 2026 Giverny Capital Asset Management adds WSO, HWKN, exits ALGN, KMX among Q4 moves Wholesale used car prices rise in the U.S. for the second straight month
JasonDoiy/iStock Unreleased via Getty Images Palantir ( PLTR ) was in focus on Thursday as the tech giant said it had received a notable authorization from the U.S. government, and investor Michael Burry weighed in on the stock. The Denver-based company said it had received authorization from the Defense Information Systems Agency, or DISA, to extend Palantir Federal Cloud Service Forward Level 5 ...
JasonDoiy/iStock Unreleased via Getty Images Palantir ( PLTR ) was in focus on Thursday as the tech giant said it had received a notable authorization from the U.S. government, and investor Michael Burry weighed in on the stock. The Denver-based company said it had received authorization from the Defense Information Systems Agency, or DISA, to extend Palantir Federal Cloud Service Forward Level 5 and Impact Level 6 Provisional Authorizations to include on-premises and edge deployments. This allows Palantir's tech stack, including its various platforms, such as its Artificial Intelligence Platform, to be used on-premise and at the edge on any hardware. It allows the U.S. government to take a hardware-agnostic approach and gives it the ability to deploy multiple vendor architectures for mission-critical work. “The future of warfighting demands software that can operate anywhere—from enterprise data centers to the tactical edge,” said Akash Jain, President and CTO, Palantir USG, in a statement . “PFCS Forward delivers on that promise with a hardware-agnostic authorization that enables mission-critical capabilities to be deployed with the survivability and resilience our warfighters need. We’re proud to continue our work with DISA to give the U.S. Government the flexibility to bring cutting-edge technology wherever the mission demands. This opens the door for true multivendor architectures at the edge, bringing best-of-breed commercial technology to critical national security missions with unprecedented speed.” Separately, on Thursday, investor Michael Burry issued a cautious report on Palantir on his investment website. Burry said earlier this month that he was "working on something" related to Palantir. Palantir shares were fractionally higher in premarket trading. More on Palantir Palantir: N Of 1, Industrializing Autonomy Via Zero-Marginal-Cost AI Integration Palantir: Rising Adoption Of AIP To Drive Growth Palantir: AI SaaS Winner Still Expensive - Bull Trap Plays ...
JasonDoiy/iStock Unreleased via Getty Images Palantir ( PLTR ) was in focus on Thursday as the tech giant said it had received a notable authorization from the U.S. government, and investor Michael Burry weighed in on the stock. The Denver-based company said it had received authorization from the Defense Information Systems Agency, or DISA, to extend Palantir Federal Cloud Service Forward Level 5 ...
JasonDoiy/iStock Unreleased via Getty Images Palantir ( PLTR ) was in focus on Thursday as the tech giant said it had received a notable authorization from the U.S. government, and investor Michael Burry weighed in on the stock. The Denver-based company said it had received authorization from the Defense Information Systems Agency, or DISA, to extend Palantir Federal Cloud Service Forward Level 5 and Impact Level 6 Provisional Authorizations to include on-premises and edge deployments. This allows Palantir's tech stack, including its various platforms, such as its Artificial Intelligence Platform, to be used on-premise and at the edge on any hardware. It allows the U.S. government to take a hardware-agnostic approach and gives it the ability to deploy multiple vendor architectures for mission-critical work. “The future of warfighting demands software that can operate anywhere—from enterprise data centers to the tactical edge,” said Akash Jain, President and CTO, Palantir USG, in a statement . “PFCS Forward delivers on that promise with a hardware-agnostic authorization that enables mission-critical capabilities to be deployed with the survivability and resilience our warfighters need. We’re proud to continue our work with DISA to give the U.S. Government the flexibility to bring cutting-edge technology wherever the mission demands. This opens the door for true multivendor architectures at the edge, bringing best-of-breed commercial technology to critical national security missions with unprecedented speed.” Separately, on Thursday, investor Michael Burry issued a cautious report on Palantir on his investment website. Burry said earlier this month that he was "working on something" related to Palantir. Palantir shares were fractionally higher in premarket trading. More on Palantir Palantir: N Of 1, Industrializing Autonomy Via Zero-Marginal-Cost AI Integration Palantir: Rising Adoption Of AIP To Drive Growth Palantir: AI SaaS Winner Still Expensive - Bull Trap Plays ...
jetcityimage/iStock Editorial via Getty Images Over the past several quarters, Angi Inc. ( ANGI ) has embarked on a business transformation aimed at fundamentally reshaping how it matches customers with service professionals (or Pros). A key change involved giving customers the option to choose a specific pro instead of auto-matching. This has resulted in drastically improved NPS and churn rates, ...
jetcityimage/iStock Editorial via Getty Images Over the past several quarters, Angi Inc. ( ANGI ) has embarked on a business transformation aimed at fundamentally reshaping how it matches customers with service professionals (or Pros). A key change involved giving customers the option to choose a specific pro instead of auto-matching. This has resulted in drastically improved NPS and churn rates, alongside significantly higher profitability and FCF generation. However, this has been achieved at the cost of shrinking the overall size of the business, with revenue down over 25% from 2023 levels. This is particularly important as Angi is a marketplace where scale and network effects are vital to the health of the platform. In my previous write-up , I argued that management was taking the right actions, even if it meant taking two steps back before moving forward. The valuation had gotten too cheap, given the line of sight for a return to mid to high single-digit topline growth. Unfortunately, Q4 results reveal that after taking two steps back, the company is unable to demonstrate its ability to move forward. Growth expectations have now been tempered, and while management remains optimistic and the stock is cheaply valued at just 5.3 times FCF, I do not find the investment case compelling enough relative to peers, especially amid the uncertainty around the impact from LLMs. As a result, I am downgrading shares to a Hold. Concerns Arising From Q4 Results Angi's Q4 revenue fell 10% year-over-year to $241 million, missing expectations . This resulted in Adjusted EBITDA for FY25 coming in at $140 million, at the bottom of the guidance range. While Q4 results were weak, the more negative development was management's conservative approach to full-year guidance. While revenue through its Proprietary channel grew 23% year-over-year in Q4, this momentum is expected to slow due to pressure from Google ( GOOG )( GOOGL ) SEO. Meanwhile, the much smaller Network channel declined 79...
Shipments of nickel ore from the Philippines to Indonesia could as much as double to hit 30 million tons this year, a leading miner said, after Jakarta introduced drastic production curbs in an effort to revive the price of the metal. “If they cut their domestic supply, they will have to get it from somewhere,” Dante Bravo , president of Global Ferronickel Holdings Inc. , the Philippines’ second-l...
Shipments of nickel ore from the Philippines to Indonesia could as much as double to hit 30 million tons this year, a leading miner said, after Jakarta introduced drastic production curbs in an effort to revive the price of the metal. “If they cut their domestic supply, they will have to get it from somewhere,” Dante Bravo , president of Global Ferronickel Holdings Inc. , the Philippines’ second-largest nickel ore producer, said by telephone. “Their shortfall will come from other sources, so from the Philippines, from New Caledonia, from other parts of the world.” Exports from the Philippines “might double this year,” he said, adding total shipments to Indonesia in 2025 stood at around 15 million tons. The Southeast Asian country produces about 65 million tons of nickel ore annually, but the bulk of that production has long gone to China. However, sales to Indonesia have spiked since 2024, after Jakarta introduced production curbs that left refineries scrambling. Those cuts have continued, with authorities this week asking the world’s biggest nickel mine to cut back. Read More: World’s Biggest Nickel Mine in Indonesia Told to Cut Output Output from the Philippines should benefit from less-heavy rains this year, but if production remains flat, shipments to China may drop slightly in favor of Indonesia, said Bravo, who also heads the Philippine Nickel Industry Association. “I believe it will be a competition between the Indonesian and Chinese markets,” Tulsi Das Reyes, president of conglomerate DMCI Holdings Inc. ’s mining unit, said in a text message. Reyes said a 20% increase in Philippine shipments to Indonesia this year was possible. “A reduction in Indonesian output will create opportunities for Philippine ore producers, particularly if global demand remains strong,” Reyes said. Nickel Asia Corp. , the country’s top producer, can supply more ore from its Manicani mine in central Philippines for the upcoming mining season, according to Deputy Chief Financial Offic...