Key Takeaways Hut 8 will report Q4 2025 on Feb. 25, with revenues projected at $97.5M, up 16.8% sequentially.HUT holds 13,696 Bitcoin, making earnings highly sensitive to fair value price swings.Hut 8's heavy capital spending and Power segment decline may pressure Q4 results.Hut 8 Corp. (HUT) is scheduled to report its fourth-quarter 2025 results on Feb. 25, 2026.The Zacks Consensus Estimate for fourth-quarter loss is pegged at 12 cents per share, narrowed by 5 cents over the past 30 days. However, this mar ...

Brightstar Lottery delivers technology and services to regulated lottery markets worldwide, backed by strong recurring revenue streams.On February 17, 2026, Solel Partners disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold 624,800 shares of Brightstar Lottery (BRSL 0.70%) in the fourth quarter, an estimated $10.18 million transaction based on quarterly average pricing.What happenedAccording to a February 17, 2026, SEC filing, Solel Partners LP reduced its stake in Brightstar Lo ...

1,073,658-$3.013.28%$88.85[Allstate][ALL]• Vol: 624,567-$6.212.92%$206.11 over six decades, Warren Buffett has transformed Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B) from a struggling…]## Wednesday Is Warren Buffett's Last Day. Is Berkshire Hathaway a Buy Without Him? [Rich Duprey | Dec 29, 2025 at 12:03 PM EST Warren Buffett's extraordinary six-decade tenure as CEO of Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B) comes to a close on Wednesday. The 95-year-old legendary…]## Warren Buffett Is About to Retire. ...

Ingersoll Rand (NYSE:IR) FY Conference Summary Company Overview - **Company**: Ingersoll Rand - **Date of Conference**: February 18, 2026 Key Industry Insights - **Demand Environment**: - Positive momentum observed in Q4 2025, with organic growth in orders across segments, particularly in North America and China, which accounts for about 10% of revenue [4][6] - Leading indicators like PMI are showing positive inflections, suggesting a potential recovery in the U.S. short-cycle industrial market [8][10] - The company is maintaining a prudent outlook for 2026, with expectations for organic growth to be modest [10][29] - **Headwinds**: - Previous headwinds from various global events (e.g., China EV build-outs, European market fluctuations post-Ukraine invasion) are no longer significant concerns as the company moves into 2026 [14][17] - The company does not foresee new comparable headwinds emerging in the near term [14][17] Financial Performance - **Recurring Revenue Growth**: - Recurring revenue exceeded $450 million in 2025, up from approximately $200 million in 2023, indicating more than a doubling of this revenue stream [24][25] - Growth in recurring revenue is broad-based across regions and product categories, with compressors in the U.S. being the largest contributor [25][27] - **Profitability**: - The recurring revenue model, particularly the Package Care segment, has gross margins between 60%-70%, contributing to overall profitability [41][46] - The company achieved a 29% EBITDA margin in ITS, with expectations for continued margin expansion despite tariff headwinds [46][61] Market Dynamics - **Tariff Impact**: - The company has experienced tariff exposure but has managed to offset these costs through pricing strategies, maintaining a dollar-neutral price-cost dynamic [54][55] - The market has responded rationally to tariff impacts, with pricing actions taken to mitigate margin dilution [54][58] - **Competitor Landscape**: - Competitors have varied responses to tariff impacts, with some implementing significant price increases while others balance pricing strategies [57][58] Strategic Focus - **Capital Allocation**: - The company plans to allocate 80%-85% of free cash flow towards M&A, with expectations for continued bolt-on acquisitions in the $1 billion range [95][99] - Share repurchase is targeted at $300-$350 million for the year, with no changes expected in the dividend policy [99][100] - **Growth Areas**: - Focus on under-penetrated markets such as Latin America, India, and Southeast Asia, with significant order growth observed in these regions [61][62] - Continued investment in innovation and recurring revenue initiatives is expected to drive future growth [61][64] Conclusion - Ingersoll Rand is positioned for a cautious yet optimistic outlook in 2026, with a focus on organic growth, recurring revenue expansion, and strategic capital allocation. The company is navigating past headwinds effectively and is set to capitalize on emerging opportunities in various global markets.

Shares of CSP Inc. (CSPI) have declined 1.8% since reporting results for the first quarter of fiscal 2026. This compares with the S&P 500 index’s 1.5% slip over the same time frame. Over the past month, the stock has lost 15% compared with the S&P 500’s 1.9% fall.CSP reported revenues of $12 million for the fiscal first quarter ended Dec. 31, 2025, down from $15.7 million in the year-ago period. The decline was primarily caused by the absence of several large, one-time product transactions that contributed ...

McKenzie reiterated TMX’s long-term goal of reaching two-thirds recurring revenue. He said the company delivered “really good growth” in recurring revenue lines, citing double-digit growth at Trayport and in other insights businesses, along with “very strong growth” in Datalinx. The overall percentage nonetheless moved lower because derivatives and equity trading also delivered strong double-digit growth, increasing the non-recurring share of revenue.McKenzie said about half of TMX’s business is now outside ...

Core Viewpoint - Investors are becoming increasingly skeptical about private equity and loans that are based on the assumption of predictable outcomes [1] Group 1 - The skepticism among investors is driven by concerns over the reliability of projected returns in private equity investments [1] - There is a growing belief that the financial models used to predict outcomes may not be as dependable as previously thought [1] - This shift in sentiment could lead to a reevaluation of investment strategies within the private equity sector [1]

Group 1: Market Overview - The fourth quarter of 2025 saw favorable gains in equity markets, with the Russell 2000 Index returning 2.19% and the Russell 1000 Index gaining 2.41% [1] - Health care was the best-performing sector in the Russell 2000 Index, with an increase of 18.6% [1] - Despite heightened uncertainty and geopolitical risks, the Russell 2000 Index posted a 12.81% gain for the year [1] Group 2: Diamond Hill Small Cap Strategy Performance - The Diamond Hill Small Cap Strategy achieved a return of 4.88% (net of fees) in the fourth quarter, outperforming the Russell 2000 Index [1] - The firm continues to focus on resilient businesses capable of sustaining earnings in a volatile market environment as it heads into 2026 [1] Group 3: Transcat, Inc. Overview - Transcat, Inc. (NASDAQ:TRNS) provides calibration and laboratory instrument services to highly regulated industries, including life sciences, aerospace, and defense [3] - The company has strong recurring revenue streams driven by regulation and a successful acquisition track record while maintaining a strong balance sheet [3] Group 4: Transcat, Inc. Stock Performance - Transcat, Inc. had a one-month return of 11.70%, but its shares lost 9.21% of their value over the last 52 weeks [2] - As of February 4, 2026, Transcat, Inc. stock closed at $70.64 per share, with a market capitalization of $659.226 million [2] Group 5: Hedge Fund Interest and Revenue Growth - Transcat, Inc. was held by 18 hedge fund portfolios at the end of the third quarter, an increase from 12 in the previous quarter [5] - In the fiscal second quarter of 2026, Transcat, Inc.'s consolidated revenue increased by 21% to $83 million [5]

Core Insights - Morgan Stanley's strategic shift towards wealth and asset management has significantly reduced its reliance on the volatile nature of dealmaking and trading, with the wealth and asset management segments contributing 54% to total net revenues in 2025, up from 26% in 2010 [1][10] Wealth and Asset Management Growth - The wealth and asset management sectors are characterized by recurring fee streams, which provide more stability compared to transaction-heavy investment banking [2] - By the end of 2025, total client assets in Wealth and Investment Management reached $9.3 trillion, supported by $356 billion in net new assets, moving closer to the company's $10 trillion target [4][10] Strategic Acquisitions - Morgan Stanley has enhanced its market position through strategic acquisitions, including E*TRADE, Eaton Vance, Shareworks (formerly Solium), and EquityZen, which have broadened distribution and deepened client engagement [3][10] Peer Comparison - In comparison, JPMorgan's Asset & Wealth Management segment reported net revenues of $6.5 billion in Q4 2025, with assets under management reaching $4.8 trillion [6] - Goldman Sachs' Asset & Wealth Management division generated net revenues of $4.72 billion in Q4 2025, with assets under supervision totaling $3.61 trillion [7] Valuation and Earnings Estimates - Morgan Stanley's shares have appreciated by 28% over the past six months, and the company trades at a price-to-tangible book ratio of 3.69, above the industry average of 3.11 [8][11] - Earnings estimates for 2026 suggest an 8.4% year-over-year increase, with 2027 earnings expected to grow by 7.1% [12][13]

(US GAAP) Consolidated Results of Operations Third quarter, year ending March 2026 January 2026 Nomura Holdings, Inc. © Nomura Outline Presentation Financial Supplement 1 ◼ Executive summary (p. 2-3) ◼ Trend in stable revenue (p. 4) ◼ Overview of results (p. 5) ◼ Business segment results (p. 6) ◼ Wealth Management (p. 7-9) ◼ Investment Management (p. 10-11) ◼ Wholesale (p. 12-14) ◼ Banking (p. 15) ◼ Non-interest expenses (p. 16) ◼ Robust financial position (p. 17) ◼ Consolidated balance sheet (p. 19) ◼ Valu ...