Core Insights - Penske Automotive Group (PAG) reported fourth-quarter 2025 adjusted earnings of $2.91 per share, a decrease of 17.8% year over year, missing the Zacks Consensus Estimate of $3.19. However, net sales reached $7.77 billion, surpassing the Zacks Consensus Estimate of $7.64 billion, and increased by 0.6% compared to the previous year [1][10]. Financial Performance - Gross profit for the quarter fell by 5.3% year over year to $1.24 billion, while operating income decreased by 20.8% to $275 million. Foreign currency exchange positively impacted revenues by $113.3 million, net income by $700,000, and earnings per share by 1 cent [2]. - Same-store retail units declined by 6.2% year over year to 115,898. In the Retail Automotive segment, same-store new-vehicle revenues decreased by 9.6% to $3.18 billion, while same-store used vehicle revenues increased by 2.8% to $2.10 billion [3]. Segmental Performance - Revenues in the Retail Automotive segment totaled $6.74 billion, a decline of 4.8% from the previous year, but exceeded the estimate of $6.73 billion. Total new and used vehicle deliveries fell by 9.5% year over year to 105,478 units, with gross profit at $1.07 billion, down 5.7% year over year, missing the estimate of $1.11 billion [4]. - Retail Commercial Truck segment revenues decreased by 6.2% to $725.4 million, beating the estimate of $652.4 million. Gross profit in this segment was $121.4 million, down from $138.1 million in the previous year, but exceeded the estimate of $106.1 million [5]. - The Commercial Vehicle Distribution and Other segment saw revenues increase by 35.3% to $303.3 million, surpassing the estimate of $257.4 million. Gross profit rose to $57.4 million from $45.8 million in the previous year, beating the estimate of $44.7 million [6]. Financial Tidbits - SG&A costs remained flat year over year at $924 million. As of December 31, 2025, Penske had cash and cash equivalents of $64.7 million, down from $83.6 million a year earlier. Long-term debt increased to $1.81 billion from $1.13 billion [7]. - In 2025, PAG repurchased 1,178,411 shares of common stock, with $247.5 million of stock repurchase authorization remaining outstanding. The company ended 2025 with approximately $1.6 billion in liquidity and raised its quarterly dividend by 2 cents to $1.40 per share, marking its 21st consecutive quarterly increase [8].

Core Viewpoint - Alliant Energy (LNT) is expected to report its fourth-quarter 2025 results on February 19, with a projected earnings per share (EPS) decline of 17.14% year-over-year and a revenue decrease of 3.91% year-over-year [1][2][8] Group 1: Earnings Expectations - The Zacks Consensus Estimate for LNT's earnings is set at 58 cents per share, reflecting a year-over-year decrease of 17.14% [2] - The revenue estimate for the quarter is $937.8 million, indicating a year-over-year decline of 3.91% [2] - Total electricity delivered is estimated at 8,181.71 megawatt-hours (MWh), which represents a slight increase of 0.81% year-over-year [2] Group 2: Factors Influencing Earnings - LNT's earnings are anticipated to benefit from a diversified and expanding customer base, along with robust economic development in its service territory, which is driving demand for utility services [3] - The successful integration of a new 100 MW battery energy storage system for a 200 MW solar project in Grant County, WI, is expected to positively impact quarterly performance [3] - Increased demand from data centers and effective cost control measures are also likely to support LNT's fourth-quarter earnings [4] Group 3: Earnings Prediction Model - The company's Earnings ESP (Earnings Surprise Prediction) is +0.58%, suggesting a potential earnings beat [5][8] - LNT currently holds a Zacks Rank of 3, indicating a neutral outlook [6][8]

Key Takeaways PacBio reported Q4 revenues of $44.6M, up 13.8%, beating estimates.PACB's adjusted gross margin expanded 900 bps to 41%, operating loss narrowed.PACB guides 2026 revenue to $165-$180M, up 3-12% year over year.Pacific Biosciences of California, Inc. (PACB) , popularly known as PacBio, delivered an adjusted loss per share of 12 cents in fourth-quarter 2025, narrower than the year-ago adjusted loss of 20 cents per share. The adjusted loss per share topped the Zacks Consensus Estimate by 36.8%.The ...

Core Insights - Aptiv Plc's revenue growth is driven by strategic acquisitions and investments in electrification, connectivity, and autonomy trends in the automotive sector [1][6] - The demand for advanced driver-assistance systems (ADAS) is creating opportunities for Aptiv's technological offerings [1] - The company faces challenges from a weakening global demand environment and rising operating costs, impacting profitability and scalability [2][8] Financial Performance - In Q4 2025, Aptiv reported adjusted earnings of $1.86 per share, exceeding the Zacks Consensus Estimate by 2.2% and increasing 6.3% year-over-year [3][10] - Total revenues for the same quarter were $5.15 billion, slightly above consensus estimates and reflecting a 10.8% year-over-year increase [3][10] Market Position and Strategy - Aptiv operates in a lucrative connected cars market, with increasing demand for security, personalization, and infotainment connectivity [4] - The company's "smart architecture" strategy enhances engine management and reduces power consumption, providing a competitive edge [5] - Recent acquisitions, including Wind River and Intercable Automotive Solutions, have strengthened Aptiv's position in automotive software solutions and vehicle architecture systems [6] Operational Challenges - The current ratio at the end of Q4 2025 was 1.74, slightly below the industry average of 1.81, indicating the company's ability to manage short-term debt [7] - The global semiconductor shortage is affecting vehicle production, which in turn impacts Aptiv's revenue [8] - Increased competition in the automotive industry is hindering Aptiv's profitability and innovation capabilities [8]

Core Insights - Rigetti Computing (RGTI) enters 2026 with a robust balance sheet, differentiating itself from peers reliant on frequent capital raises [1][2] - The company's liquidity exceeds $600 million, providing multi-year financial visibility and reducing near-term dilution risk [1][2] - Rigetti's resources are sufficient to fund planned system launches, including next-generation 100+ qubit platforms with approximately 99.5% fidelity and a 150+ qubit architecture [1][7] Financial Flexibility - Rigetti's revenue profile is uneven, primarily tied to government agencies and research institutions, making financial flexibility crucial [2] - Recent contract momentum and international engagement reinforce long-term relevance but do not mitigate quarterly volatility [2] - The strong balance sheet allows Rigetti to absorb delays and customization without external financing, enhancing its competitive position [2][3] Peer Updates - D-Wave Quantum (QBTS) achieved a technical milestone with scalable on-chip cryogenic control for gate-model quantum processors, reducing wiring complexity [4] - IonQ (IONQ) is deepening its relationship with the Korea Institute of Science and Technology Information by installing a next-generation 100-qubit system, highlighting its success with government-backed institutions [5] Price Performance and Valuation - Rigetti's shares have declined 16.6% over the last six months, compared to the industry's decline of 20.3% [6] - The company trades at a price-to-book ratio of 13.31, above the industry average, and carries a Value Score of F [9] - The Zacks Consensus Estimate for Rigetti's 2026 earnings indicates a significant 75.9% improvement from the previous year [10]

Core Insights - ASML Holding (ASML) shares have increased by 11.3% over the past month, outperforming the Zacks Computer and Technology sector, which declined by 3.4% [1][7] - ASML's stock is currently considered overvalued, trading at a forward 12-month price-to-sales (P/S) ratio of 12.66X compared to the sector average of 6.37X, as indicated by a Zacks Value Score of F [2] Performance Comparison - In the same period, shares of Lam Research, KLA Corporation, and Applied Materials returned 10.8%, 1.1%, and 19.1%, respectively [2] - ASML's stock has outperformed Lam Research and KLA Corporation but underperformed Applied Materials [1][2] Demand and Growth Outlook - ASML is benefiting from strong demand for artificial intelligence (AI) and high-performance computing (HPC) chips, particularly in high-bandwidth memory (HBM) and advanced DRAM nodes, which is expected to tighten supply through at least 2026 [5][9][10] - The company has a backlog of €38.8 billion and expects revenues in the range of €34-€39 billion for 2026, with a Zacks Consensus Estimate of $43.31 billion, indicating a year-over-year improvement of 17% [10][11] Competitive Position - ASML holds a near-monopoly in extreme ultraviolet (EUV) technology, which is essential for producing the world's most advanced chips at 3nm and below, providing it with significant pricing power and strategic importance with major customers like TSMC, Samsung, and Intel [12] - The company is advancing into sub-2nm production with High Numerical Aperture (High-NA) EUV systems, which are expected to be central to the industry's shift towards denser and more efficient chips [13] Earnings Estimates - The Zacks Consensus Estimate for ASML's 2026 earnings is $33.63, reflecting a year-over-year growth of 20.3%, with recent upward revisions in estimates [13][14] - Current earnings estimates for the upcoming quarters and years indicate stable growth, with the current quarter estimate at $7.61 and the next year at $41.42 [14] Investment Recommendation - Given ASML's unmatched leadership in EUV technology, visibility into AI-driven demand, and strong earnings momentum, the stock is viewed as attractive for long-term investment, currently rated as Zacks Rank 2 (Buy) [10][13]

Core Insights - The trade agreement between the United States and Taiwan, signed on February 12, 2026, reduces tariffs from 20% to 15%, benefiting Taiwanese high-tech exports, especially in semiconductors, pharmaceuticals, and aircraft parts [1][10] - This agreement levels the playing field for Taiwan against other Asian countries, enhancing the competitive position of Taiwanese firms like Taiwan Semiconductor Manufacturing Company (TSMC) [2][10] - The deal is expected to create a favorable environment for Exchange-Traded Funds (ETFs) that focus on Taiwanese companies, allowing investors to benefit from the anticipated growth without the risks associated with individual stock selection [3] Trade Agreement Details - The agreement includes a commitment from Taiwan to purchase $84 billion in U.S. goods and a $250 billion investment pledge from Taiwanese firms into U.S. manufacturing [6] - Taiwan will remove or reduce 99% of tariff barriers on U.S. goods, providing preferential market access for U.S. exports [6] - This reciprocal trade framework aims to reduce the U.S. trade deficit while boosting the Taiwanese economy, particularly in the context of rising global demand for AI technologies [7][8] Economic Impact - Taiwan's economy grew by 8.6% in 2025, driven by a 78% increase in exports to the U.S., largely due to AI demand [8] - The reduction in tariffs is expected to lead to increased export volumes, allowing Taiwanese companies to capture efficiency gains [8] Investment Opportunities - The iShares MSCI Taiwan ETF (EWT) has net assets of $8.15 billion, with a 37.5% increase over the past year, and significant exposure to TSMC [11] - The Franklin FTSE Taiwan ETF (FLTW) has net assets of $706.3 million and has surged 46.2% over the past year, also heavily invested in TSMC [12] - The Fidelity Emerging Markets Multifactor ETF (FDEM) has net assets of $448.1 million, with TSMC as its top holding, and has gained 30.6% over the past year [13][14]

For investors seeking momentum, the Vanguard Mortgage-Backed Securities ETF (VMBS) is probably on the radar now. The fund just hit a 52-week high and is up 6% from its 52-week low price of $44.85 per share.  But are there more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better sense of where it might head.VMBS in FocusThe fund provides exposure to U.S. large-cap equities while attempting to lower volatility by avoiding sectors that are currently in a d ...

Core Insights - Alnylam Pharmaceuticals reported fourth-quarter 2025 adjusted earnings of $1.25 per share, exceeding the Zacks Consensus Estimate of $1.16, compared to adjusted earnings of 6 cents in the same quarter last year [1] - Total revenues for the quarter were $1.10 billion, falling short of the Zacks Consensus Estimate of $1.14 billion, but representing an 85% year-over-year increase from $593.2 million [2] Financial Performance - Net product revenues reached $994.7 million, marking a 121% increase year over year, driven by strong demand for Amvuttra and other marketed drugs [3] - Net revenues from collaborators were $40.9 million, a 62% decrease from the previous year, primarily due to the absence of revenues from Novartis in the reported quarter [4] - Royalty revenues increased by 73% year over year to $61.4 million [5] Product Performance - Amvuttra generated sales of $826.6 million, up 189% year over year, although it missed the Zacks Consensus Estimate of $837.2 million [8] - Givlaari sales were $86.8 million, reflecting a 34% year-over-year increase and exceeding the Zacks Consensus Estimate of $79.7 million [9] - Oxlumo recorded sales of $49.6 million, a 14% increase year over year, but fell short of the Zacks Consensus Estimate of $55.2 million [9] Guidance and Future Outlook - For 2026, Alnylam expects net product revenues between $4.9 billion and $5.3 billion, indicating a year-over-year growth of 64-77% at constant exchange rates [17] - The company anticipates net revenues from collaborations and royalties to be in the range of $400 million to $500 million, with adjusted R&D and SG&A expenses projected between $2.7 billion and $2.8 billion [17] Overall Assessment - Alnylam's fourth-quarter results were mixed, with earnings surpassing estimates but revenues missing expectations, likely due to high market expectations rather than a decline in demand [18] - The significant year-over-year revenue growth was primarily driven by strong sales of Amvuttra, supported by recent label expansions [19]

Core Insights - Novartis (NVS) announced positive results from the late-stage III ALIGN study for its kidney disease drug Vanrafia (atrasentan) [1][9] - The ALIGN study demonstrated that Vanrafia effectively slows the decline of kidney function in patients with IgA nephropathy [3][4] Study Results - Vanrafia showed a significant difference in estimated glomerular filtration rate (eGFR) change from baseline compared to placebo, with a 2.39 ml/min/1.73m² difference at week 136 and a 2.59 ml/min/1.73m² difference at week 132 [3][4] - The study included a subgroup of patients receiving SGLT2 inhibitors, who also exhibited similar benefits [4] Regulatory Status - Vanrafia received accelerated approval in the United States and China in 2025 for reducing proteinuria in adults with IgA nephropathy, with plans for traditional approval in 2026 [5][9] Product Portfolio - Novartis' renal portfolio includes Fabhalta (iptacopan), which is approved for treating adults with paroxysmal nocturnal hemoglobinuria and has also received accelerated approval for IgA nephropathy [6] - Fabhalta generated sales of $155 million in Q4 and $505 million in 2025 [7] Market Context - 2026 is a critical year for Novartis due to the patent expiry of its cardiovascular drug Entresto, which is the largest in its history [8] - Novartis shares have increased by 52.9% over the past year, outperforming the industry growth of 20.6% [8]