Core Viewpoint - The year 2026 is anticipated to be unfavorable for passive investing, particularly for strategies relying on ETFs that track the broader market, as large-cap stocks are believed to have excessive valuations that could lead to losses [1] Group 1: Market Analysis - The large-cap stocks that contributed significantly to the gains in 2025 are expected to face valuation challenges in 2026 [1] - Passive investment strategies may not yield favorable results in the upcoming year, indicating a potential shift in market dynamics [1] Group 2: Analyst Background - The analyst has extensive experience in covering technology companies on Wall Street and has worked in Silicon Valley, providing insights into current industry trends [1] - The analyst has been a contributor to Seeking Alpha since 2017 and has been featured in various web publications, indicating a strong presence in the investment community [1]

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on Toast (TOST), and emphasizes the importance of using these recommendations in conjunction with other analytical tools like the Zacks Rank to make informed investment decisions [1][5][11]. Brokerage Recommendations for Toast - Toast has an average brokerage recommendation (ABR) of 1.79, indicating a consensus between Strong Buy and Buy, based on recommendations from 29 brokerage firms [2][5]. - Out of the 29 recommendations, 17 are classified as Strong Buy, accounting for 58.6%, while one is classified as Buy, making up 3.5% of the total recommendations [2]. Limitations of Brokerage Recommendations - Studies indicate that brokerage recommendations have limited success in guiding investors towards stocks with the highest price increase potential [5]. - Analysts from brokerage firms often exhibit a strong positive bias in their ratings due to vested interests, leading to a disproportionate number of Strong Buy recommendations compared to Strong Sell recommendations [6][11]. Zacks Rank as an Alternative - The Zacks Rank, which categorizes stocks from 1 (Strong Buy) to 5 (Strong Sell), is presented as a more reliable indicator of a stock's near-term price performance, driven by earnings estimate revisions [8][12]. - The Zacks Rank is updated more frequently than the ABR, reflecting timely changes in earnings estimates and business trends [13]. Current Earnings Estimates for Toast - The Zacks Consensus Estimate for Toast's current year earnings remains unchanged at $1.04, suggesting stability in analysts' views regarding the company's earnings prospects [14]. - Due to the unchanged consensus estimate and other factors, Toast currently holds a Zacks Rank of 3 (Hold), indicating a cautious approach despite the Buy-equivalent ABR [15].

What's your final. >> IBM. I love the acquisition that Arind is doing.>> Josh Brown, final trade. >> Uh, toast. >> Okay, there it is.Up 1% today. Mr. . Bellski, BLD top builder.>> Thank you. You're welcome. Joe Terteranova >> Apploven's back.Scott, it's gonna make a It's going to make a run towards the all-time intraday high for September, >> which is what. >> 745. >> All right.>> You like that. >> All right. We'll It's up 4% today.Looks pretty good. By the way, Home Depot had weaker than expected earnings ...

Group 1 - IBM's acquisition strategy is positively viewed, indicating potential growth opportunities for the company [1] - Home Depot reported weaker than expected earnings growth guidance, which may impact investor sentiment and stock performance [2]

Core Insights - CFOs are increasingly using terms like "uncertainty" and "unprecedented" to describe the current economic landscape, reflecting a sense of fatigue with ongoing unpredictability [1] - The focus for CFOs is on taking actionable steps to build resilience in the face of uncertainty, rather than succumbing to inaction [1][2] - There is a significant shift in resource allocation towards technology functions within companies, although uncertainty remains regarding AI's full impact on financial performance [3][4] Financial Strategies - Key questions for CFOs include improving liquidity, operational efficiency, and determining essential versus non-essential investments [2] - Despite uncertainty, it is crucial for companies to review long-standing strategies and seize competitive opportunities, particularly in AI investments [2] - The recommended focus for AI efforts is 80% on productivity for growth and 20% on productivity for efficiency, emphasizing better time utilization rather than headcount reduction [5] Future Outlook - McKinsey's research suggests that by 2030, profound changes in work processes will necessitate a reorganization of value creation and activities [4] - Managing uncertainty effectively involves planning for both positive and negative scenarios, highlighting the importance of a cross-functional approach within the C-suite [6] - The global economic outlook indicates that AI-driven investments are supporting better-than-expected growth, despite underlying demand remaining soft [9]

Core Viewpoint - PayPal is facing significant challenges in the payments sector, with analysts expressing caution about its growth prospects for 2026, while also highlighting potential opportunities for other companies like Toast. Group 1: PayPal's Current Situation - Deutsche Bank analyst Nate Svensson has set a price target of $65 for PayPal, indicating a potential upside of about 3.83% from its current trading price of $62.60 [1][6] - PayPal's stock has fluctuated between $61.50 and $62.63 during the trading day, with a market capitalization of approximately $58.52 billion and a trading volume of 1,626,905 shares [3][6] - Over the past year, PayPal's stock has seen a high of $93.66 and a low of $55.85, reflecting significant volatility [3] Group 2: Analyst Ratings and Market Challenges - JPMorgan has downgraded both PayPal and Fiserv to a Neutral rating, citing that payments stocks are facing their most challenging year in 15 years, excluding the COVID-19 crash [2][6] - The bank has labeled 2026 as a "prove-it year" for PayPal, indicating that while there is potential for positive outcomes, there is also a significant risk of disappointment due to the uncertainty surrounding newer ventures like lending [4][6] Group 3: Comparison with Other Companies - In contrast to PayPal, JPMorgan is optimistic about Toast, noting a 27% increase in earnings estimates, which presents a more attractive investment opportunity amidst current market uncertainties [5]

Core Insights - Toast (NYSE: TOST) and Block (NYSE: SQ) both reported Q3 2025 earnings that exceeded revenue estimates but fell short on earnings per share (EPS) [1] Company Performance - Toast reported Q3 2025 earnings that beat revenue estimates [1] - Block also reported Q3 2025 earnings that surpassed revenue expectations [1] - Both companies missed EPS targets for the quarter [1]

Core Insights - Jennifer DiRico has been appointed as the new Chief Financial Officer of PTC, effective January 1, 2026, succeeding Kristian Talvitie [1][2][3] - DiRico brings extensive experience from her previous roles, including CFO at Commvault and leadership positions at Toast, where she contributed to the company's IPO and global expansion [2][4] - PTC's President and CEO Neil Barua expressed confidence in DiRico's ability to lead the finance organization and support the company's growth strategy [3] Company Overview - PTC is a global software company focused on enabling manufacturers and product companies to digitally transform their design, manufacturing, and service processes [7] - The company is headquartered in Boston, Massachusetts, employs over 7,000 people, and serves more than 30,000 customers worldwide [7] Leadership Transition - DiRico's appointment follows a thorough executive search process, and she will report directly to the CEO [1][3] - Kristian Talvitie will continue to serve as CFO until the end of 2025, during which he will assist in the transition [1][3] Strategic Vision - DiRico aims to help PTC capture growth opportunities while maintaining strong financial discipline [3] - The company is focused on advancing its Intelligent Product Lifecycle vision, which is critical for addressing customer challenges and driving shareholder value [3]

Group 1 - Toast Inc (NYSE: TOST) has been upgraded by J.P. Morgan Securities to "overweight" from "neutral," driven by expectations of strong growth in the payments and fintech sectors, highlighting the company's pricing power and strong margins [1] - Currently, 12 out of 29 analysts rate Toast stock as a "hold," indicating potential for further upgrades that could provide additional support for the stock [2] - Toast's stock is trading below its year-to-date breakeven level and has decreased by 17.9% over the past 12 months, with recent gains testing the shares' 50-day moving average [2] Group 2 - The popularity of call options for Toast has increased, as indicated by a Schaeffer's put/call open interest ratio (SOIR) of 0.52, which is in the 16th percentile of its annual range [3] - Options for Toast are currently affordably priced, with a Schaeffer's Volatility Index (SVI) of 46%, which is higher than just 8% of all readings from the past year [3]

Economic Data and Market Reaction - The ADP data indicated a loss of 32,000 private-sector jobs in November, marking the largest decline in 2.5 years, which initially caused stocks to fall [2] - Following the weak employment data, stocks rebounded, with the Dow Jones up 0.96% at 47,928, S&P 500 rising 0.38% to 6,855, and NASDAQ gaining 0.26% to 23,468 by the close [2] - The weak ADP report has increased expectations for a 25 basis point rate cut by the Federal Reserve next week [2][6] Treasury Bonds - The weak ADP data led to a decline in Treasury yields across the curve, with the 30-year bond yielding 4.73% and the 10-year note at 4.06% [3] - Some analysts suggest that the Fed may not only cut rates next week but could also follow up with another cut in January [3] Energy Sector - Oil prices increased as reports indicated that a potential peace deal regarding the Russia-Ukraine conflict was premature, with Brent Crude rising 0.61% to $62.83 and West Texas Intermediate up 0.84% to $59.13 [4] - Natural gas prices surged, closing at $5.00, a significant increase of 3.45%, with EQT Corp. identified as a favored stock in this sector [4] Precious Metals - Gold prices saw a slight increase, closing at $4,207, driven by dollar weakness and a report of central banks purchasing 53 tonnes of gold in October, the highest amount since 2025 [5] - Silver also continued to rise, last seen at $56.97 [5]