Core Viewpoint - Shopify Inc. reported strong fourth-quarter earnings and issued positive guidance for the first quarter, yet its shares fell over 12% intra-day, indicating market concerns despite the positive financial results [1]. Financial Performance - For the fourth quarter ended December 31, 2025, Shopify achieved adjusted earnings per share of $0.57, surpassing analyst expectations of $0.51 [2]. - Revenue for the quarter increased by 31% year over year to $3.67 billion, exceeding the consensus forecast of $3.59 billion [2]. - The company marked its eleventh consecutive quarter of revenue growth of 25% or higher, excluding logistics [2]. - Free cash flow reached $715 million during the quarter, resulting in a free cash flow margin of 19% [2]. - Gross merchandise volume (GMV) grew by 31% to $123.84 billion [2]. Future Guidance - For the first quarter of 2026, Shopify expects revenue growth in the low-thirties percentage range year over year, consistent with the fourth quarter and above analyst expectations of 25.2% growth [4]. - The company anticipates a free cash flow margin in the low-to-mid teens, slightly below the level recorded in the same period of 2025 [4].

Core Viewpoint - Unity Software Inc. experienced a significant drop in share price by over 28% intra-day following weaker-than-expected guidance for the first quarter of fiscal 2026, despite reporting stronger-than-anticipated fourth-quarter results [1] Group 1: Fourth Quarter Performance - The company reported fourth-quarter earnings per share of $0.24, surpassing analyst estimates of $0.21 [1] - Revenue for the fourth quarter increased to $503.1 million from $457 million a year earlier, exceeding the consensus estimate of $488.95 million [1] Group 2: Segment Performance - Create Solutions revenue rose to $165 million from $152 million in the fourth quarter of 2024 [2] - Grow Solutions revenue increased to $338 million from $305 million a year ago [2] - Adjusted EBITDA for the fourth quarter reached $125 million, reflecting a 25% margin [2] Group 3: First Quarter Guidance - For the first quarter of 2026, Unity projected revenue between $480 million and $490 million, which is below analyst expectations of $491.8 million [3] - The company indicated that Grow revenue would remain flat sequentially, while Create revenue is expected to deliver double-digit year-over-year growth, excluding non-strategic revenue [3] - Unity anticipates first-quarter adjusted EBITDA of $105 million to $110 million [3]

Core Viewpoint - Kraft Heinz Co. has suspended its planned company separation and provided 2026 guidance that significantly underperforms analyst expectations [1][2] Group 1: Financial Performance - The company reported fourth-quarter adjusted earnings per share (EPS) of $0.67, surpassing analyst estimates of $0.61 [1] - Revenue for the quarter was $6.35 billion, slightly below the consensus of $6.38 billion and down 3.4% year-over-year [1] - Organic sales declined by 4.2%, worse than the expected drop of 3.72% [1] Group 2: Strategic Changes - Under new CEO Steve Cahillane, Kraft Heinz is focusing on restoring profitable growth [2] - The company announced a $600 million investment plan targeting marketing, sales, and research and development, particularly for its U.S. operations [2] Group 3: Future Projections - For 2026, Kraft Heinz projected adjusted EPS between $1.98 and $2.10, significantly below analyst expectations of $2.49 [2] - Organic net sales are expected to decline between 1.5% and 3.5%, with adjusted operating profit forecasted to fall by 14% to 18% [2] Group 4: Full-Year Results - For the full year 2025, Kraft Heinz reported a net loss of $5.85 billion, compared to a profit of $2.74 billion in 2024, primarily due to $9.3 billion in non-cash impairment charges [3] - Adjusted EPS for 2025 decreased by 15% to $2.60 from $3.06 in the previous year [3]

Core Viewpoint - Humana Inc. shares declined over 2% after issuing 2026 earnings guidance that fell short of analyst expectations, despite reporting better-than-expected fourth-quarter results [1][2] Financial Performance - For Q4 2025, Humana reported an adjusted net loss of $3.96 per share, slightly better than the expected loss of $4.00 per share. Revenue reached $32.52 billion, surpassing the consensus estimate of $32.04 billion [1] - For the full year 2025, adjusted earnings were $17.14 per share, an increase from $16.21 in 2024. The Insurance segment had a GAAP benefit ratio of 90.4%, slightly better than the guidance range of 90.1% to 90.5% [3] Earnings Guidance - Humana's 2026 adjusted earnings guidance is projected at a minimum of $9.00 per share, significantly below analyst expectations of $12.00. The company cited a decline primarily due to a Star Ratings headwind for Bonus Year 2026, net of mitigation efforts [2] Membership Growth - Despite the lower earnings outlook, Humana anticipates approximately 25% growth in individual Medicare Advantage membership in 2026, driven by new enrollments and improved retention [4] - The company also reported a 25% increase in Senior Primary Care patients within its CenterWell platform during 2025 [4]

Core Insights - Hilton Worldwide Holdings Inc. reported fourth-quarter earnings that exceeded Wall Street estimates, with adjusted earnings per share of $2.08 surpassing the consensus of $2.02 and revenue of $3.09 billion exceeding forecasts of $2.99 billion [1] Financial Performance - The company posted fourth-quarter net income of $298 million and adjusted EBITDA of $946 million, compared to $505 million and $858 million in the same period a year earlier [2] - System-wide comparable revenue per available room (RevPAR) increased by 0.5% year over year on a currency-neutral basis in the fourth quarter, supported by higher average daily rates despite modest declines in occupancy [2] - For the full year 2025, comparable RevPAR rose 0.4% compared to 2024 [2] Growth and Development - Hilton continued to expand its global footprint, adding 26,000 rooms during the quarter, contributing to a net unit growth of 6.7% compared to December 2024 [3] - The development pipeline reached a record 520,500 rooms as of December 31, 2025 [3] - For 2026, Hilton forecasts comparable, currency-neutral RevPAR growth of 1.0% to 2.0% and projects full-year adjusted EPS of $8.65 to $8.77, below the analyst consensus of $9.15, with net unit growth of 6.0% to 7.0% [3]

Core Viewpoint - Generac Holdings Inc. reported fourth-quarter earnings that fell short of analyst expectations due to reduced power outage activity impacting residential generator demand, although shares rose over 17% intra-day following a positive outlook [1] Financial Performance - Adjusted earnings for the quarter were $1.61 per share, missing the analyst consensus of $1.77 [1] - Revenue declined 12% year over year to $1.09 billion, below expectations of $1.16 billion [1] - For full-year 2025, net sales were reported at $4.21 billion, down 2% from $4.30 billion in 2024 [4] Segment Performance - Residential product sales, the largest segment, dropped 23% to $572 million from $743 million in the prior-year period, attributed to continued weakness in power outage activity [2] - Commercial and Industrial (C&I) product sales increased 10% to $400 million, driven by stronger demand from data center customers [3] Future Outlook - Generac initiated fiscal 2026 guidance, projecting net sales growth in the mid-teens percentage range compared to 2025 [3] - The company expects adjusted EBITDA margins of approximately 18.0% to 19.0% [3] Shareholder Actions - The board approved a new $500 million share repurchase authorization to be executed over the next 24 months, replacing the remaining balance of its prior program [4]

Group 1 - Centrus Energy (NYSE:LEU) is a significant player in the nuclear fuel industry, focusing on uranium enrichment [1] - Roth Capital has adjusted its rating for Centrus Energy to Neutral and raised the price target from $125 to $137, indicating a more optimistic outlook [1][5] - The stock for LEU is currently priced at $215.70, reflecting a decrease of 18.60% with a significant trading volume of 1,726,957 shares on the NYSE [3][5] Group 2 - Centrus Energy has announced a strategic partnership with Fluor for the expansion of its uranium enrichment capacity in Piketon, Ohio, which is a multi-billion-dollar project [2][5] - The project is managed by Centrus' subsidiary, American Centrifuge Operating, LLC, and is progressing rapidly with centrifuge manufacturing already underway [2] - Centrus President and CEO, Amir Vexler, emphasized the importance of the partnership with Fluor, highlighting Fluor's global leadership and extensive experience in managing complex nuclear construction projects [4]

For the past three years, Shopify Inc. ( SHOP ) has been a net outperformer of the S&P 500 index ( SP500 ) ( SPX ). Dips in its share price were historically great Analyst's Disclosure: I/we have a beneficial long position in the shares of SHOP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is menti ...

Good morning, everyone. Thank you for joining Bank of America's 34th Annual Financial Services Conference. This is Craig Siegenthaler, North American Head of Diversified Financials at BofA. And I'm pleased to introduce Ameriprise's CFO, Walter Berman. Walter is CFO and has been with Ameriprise for more than 2 decades, following a distinguished 30-year career at the company's former parent, American Express. Walter, thank you for joining us in Miami. Presentation Craig Siegenthaler BofA Securities, Research ...

Question-and-Answer Session So first of all, thanks for having me. I could spend 40 minutes on that question alone. So I'll try to be brief. I think that there are a lot of elements to the secret sauce. But if you kind of go back 3 years and where we were at 3 years ago, the first most important thing was the Board hired Robin. And why did they hire Robin? They hired him because he had all the requisite skills to be the CEO of BNY in terms of his upbringing in his former life, running operations, running gl ...