Core Insights - Beyond Oil Ltd. has appointed Dganit Kramer to its Advisory Board, enhancing its leadership as it transitions into a global, sales-driven commercial organization [1][2] Leadership and Expertise - Dganit Kramer brings over 25 years of senior leadership experience in telecommunications and technology, recognized for operational excellence and profitability improvements [3][4] - In her previous role as Deputy CEO of Partner Communications Group, she significantly increased net profit and improved business performance [4] - Kramer has also held senior roles in the Bezeq Group, managing around 4,000 employees and leading initiatives that generated hundreds of millions of shekels in cost savings [5] Strategic Focus - Kramer will assist Beyond Oil in developing scalable systems for managing customer and distributor accounts, which is crucial for operational excellence and commercial success as the company expands [7][8] - The Advisory Board will guide strategy, organizational structure, and long-term value creation during Beyond Oil's growth phase [12] Company Overview - Beyond Oil Ltd. is focused on food-tech innovations that reduce health risks associated with fried food, lower operational costs, and enhance sustainability [13] - The company's patented technology addresses health concerns related to reused frying oil, which is prevalent in various food service settings [13]

Industry Overview - The Zacks Business – Information Services industry is experiencing increased demand for services that ensure risk mitigation, cost reduction, and productivity improvement due to the work-from-home trend [1] - Companies in this industry are focusing on technology, digital transformation, and data-driven decision-making to identify demand sources and target end markets [2] Current Trends - The industry is witnessing a healthy demand environment, with revenues, income, and operating cash expected to grow during the post-pandemic economic recovery [3] - There is a significant increase in demand for customer-centric solutions, driven by the pandemic, leading companies to modify their business strategies [4] - The adoption of digital transformation, automation, and big data is anticipated to fuel industry growth, with a shift from conventional data solutions to more specialized services [5] Industry Performance - The Zacks Business – Information Services industry holds a Zacks Industry Rank of 109, placing it in the top 45% of 244 Zacks industries, indicating encouraging near-term prospects [6] - Over the past year, the industry has underperformed compared to the S&P 500 Composite, declining by 22% while the S&P 500 rallied by 19.5% [8] Valuation Metrics - The industry is currently trading at a forward 12-month price-to-earnings (P/E) ratio of 19.8X, lower than the S&P 500's 23.36X and the sector's 20.97X [11] Company Highlights - **Experian**: Achieved 12% total revenue growth at constant currency, including 8% organic revenue growth, demonstrating resilience and strong execution of strategic priorities [15][16] - **Intertek**: Scaling up its portfolio in high-growth sectors through acquisitions, benefiting from a favorable revenue mix and productivity enhancements [18][19]

Financial Data and Key Metrics Changes - Identical sales grew by 2.4%, while digital sales increased by 21% [5][22] - Adjusted EBITDA for Q3 was $1.039 billion, with adjusted EPS at $0.72 per diluted share [25] - Gross margin was reported at 27.4%, a decline of 55 basis points year-over-year, but improved sequentially from Q2 [24] - Selling and administrative expense rate decreased to 24.9%, down 33 basis points year-over-year [24] Business Line Data and Key Metrics Changes - Pharmacy and health sales increased by 18%, driven by strong execution in immunizations and core prescriptions [13][23] - Loyalty membership grew by 12% to over 49 million members, enhancing customer engagement [14][15] - The media collective saw double-digit growth year-over-year, contributing to high-margin growth [15] Market Data and Key Metrics Changes - Digital penetration reached 9.5%, with over half of orders delivered in three hours or less [12] - The company continues to gain market share in e-commerce, with sales up 21% this quarter [12] Company Strategy and Development Direction - The company is focused on leveraging technology and AI to enhance customer experience and operational efficiency [8][9] - Strategic priorities include modernizing capabilities, scaling digital engagement, and monetizing the media collective [8][12] - The company aims to grow its own brands penetration from 25% to 30% [16] Management's Comments on Operating Environment and Future Outlook - The operating environment remains mixed, with pressure across income segments, leading to cautious consumer spending [20] - The company is confident in its ability to deliver long-term profitable growth through strategic investments and productivity initiatives [29][30] - The outlook for fiscal 2025 has been updated, with identical sales expected to range from 2.2% to 2.5% [30] Other Important Information - The company is committed to a $1.5 billion productivity plan over the next three fiscal years [18] - Capital expenditures for Q3 were $462 million, focusing on store upgrades and digital technology [25] - The company refinanced $1.5 billion of existing indebtedness, demonstrating balance sheet strength [28] Q&A Session Summary Question: How is the overall pricing environment lined up relative to your initial expectations? - The company is taking a surgical and targeted approach to price investments, seeing positive results in categories where investments were made [39][40] Question: How are you progressing with getting new pharmacy shoppers to purchase more grocery items? - The company is pleased with pharmacy growth, noting that many customers are already shopping in grocery, leading to deeper engagement [47] Question: Can you comment on the potential headwinds for FY26? - The company remains confident in its strategy, with a focus on pharmacy and digital growth, despite potential headwinds from the Inflation Reduction Act [54][56] Question: What are the key drivers for the lower guide on ID sales? - The guidance reflects the impact of the Inflation Reduction Act, with potential upside from pharmacy growth depending on various factors [58][59] Question: How are you tracking against the cost savings plan? - The company is executing well against its $1.5 billion productivity plan, with ongoing process redesign and technology integration [68]

Core Viewpoint - Telia Lietuva is reorganizing its Digital & Technology unit to enhance efficiency and expand digital solutions, resulting in a workforce reduction of 59 positions [1][2][3] Group 1: Workforce Changes - The workforce reduction is not linked to individual performance but is a strategic decision based on the unit's structural changes [2] - The company currently employs approximately 2,500 people in Lithuania, and the changes are part of a broader restructuring across the Telia Company Group [1][3] Group 2: New Opportunities - Despite the workforce reduction, around 10 new positions are expected to be created in Telia Global Services Lithuania (TGSL) and 6 positions in Telia Lietuva to strengthen critical competencies for future growth [3] Group 3: Employee Support - Comprehensive consultations were conducted with trade unions regarding the changes, covering support and compensation for affected employees [4] Group 4: Management Changes - Effective February 1, 2026, there will be leadership changes within the company's units, with Elina Dapkevičienė becoming Head of Sales and Customer Service, and Lina Bandzinė taking over as Head of the Consumer unit [5] Group 5: Organizational Simplification - In November 2025, Telia Lietuva merged its Technology and Digital Transformation units with Legal and Personnel units to simplify its organizational structure and improve operational efficiency [6]

Core Insights - Fastly's Chief Technology Officer, Artur Bergman, sold 40,000 shares for approximately $409,200, which aligns with his established trading pattern and reflects a reduction in his direct holdings [5][7] - The company reported record revenue of $158.2 million in Q3, up from $137.2 million the previous year, although it still faced an operating loss of $28.8 million [8] - Fastly's stock price has increased, reaching a 52-week high of $12.59, making it a less favorable time for new investments [9][10] Company Overview - Fastly provides edge cloud infrastructure, focusing on performance, security, and developer flexibility for global enterprises [6] - The company's strategy aims to expand its programmable edge capabilities to capitalize on growth in digital transformation and cloud-native application delivery [6] Trading Activity - Bergman's recent sale of 40,000 shares is double the median size of his previous transactions, indicating a shift in his trading activity as his direct ownership has decreased [4] - Post-transaction, Bergman retains 2,730,579 shares directly and has a total economic exposure of 7,180,828 shares, including indirect holdings [3][5] Market Context - The sale occurred during a period of rising stock prices, suggesting that it is part of a prearranged trading plan to avoid insider trading accusations [7] - Fastly's elevated price-to-sales ratio indicates that it may not be the best time to buy shares, with recommendations to wait for a price drop before investing [9][10]

Company Overview - EPAM Systems, Inc. is a global technology services provider with a market capitalization of $11.41 billion and over 60,000 employees, focusing on digital transformation projects and maintaining a diversified client base [4][7] - The company reported a trailing twelve months (TTM) revenue of $5.30 billion and a net income of $371.62 million [4] Recent Developments - Wishbone Management initiated a new position in EPAM Systems by acquiring 100,000 shares valued at $15.08 million, representing 8.11% of the fund's 13F reportable assets under management as of September 30 [2][3] - EPAM shares are currently priced at $204.88, down 12% over the past year, while the S&P 500 gained approximately 16% during the same period [3] Financial Performance - EPAM reported $1.394 billion in third-quarter revenue, reflecting a year-over-year increase of 19.4%, and raised its full-year revenue outlook for 2025 to approximately $5.43 billion to $5.45 billion [5][8] - The company has also repurchased $82.1 million of its stock during the quarter and authorized an additional $1 billion buyback program [8] Strategic Positioning - EPAM stands out as the only pure-play digital engineering name in Wishbone Management's portfolio, which includes exposure to industrial distribution, airlines, and payments infrastructure [9] - The company's services span AI, automation, and digital design, serving clients across various industries including financial services, travel, software, media, and healthcare [7]

Group 1 - The finance ministry has identified select digital initiatives from Canara Bank, Bank of Maharashtra, and State Bank of India for replication across public sector banks to enhance collaboration and efficiency [1][2][9] - Canara Bank's initiative, "Biz Around - Data in a Box," is a mobile application utilizing geospatial analytics to assist branches in identifying and engaging business establishments within a 20-kilometer radius, improving lead generation and operational efficiency [6][1] - Bank of Maharashtra's Tech-Managed Co-Lending Partnership platform supports its co-lending operations, facilitating seamless onboarding of partners and managing the entire loan lifecycle from origination to recovery [7][1] Group 2 - The government aims to encourage public sector banks to pool internal capabilities and create common platforms instead of developing isolated systems, as part of a broader reform agenda [2][4] - SBI's Project Pratham focuses on end-to-end digitalization through system integration, partnerships with fintech firms, and the use of advanced analytics, with banks encouraged to adopt similar frameworks, especially for MSME loans up to ₹1 crore [8][9]

Company Overview - Alight operates as a global provider of technology-driven human capital management solutions, focusing on enhancing employee wellbeing and operational efficiency through its cloud platform and expertise in HR and financial systems [4][7] - The company generates revenue through employer solutions, professional services, and hosted business solutions aimed at optimizing workforce management [7] Financial Performance - Alight reported a total revenue of $2.29 billion and a net income of -$2.16 billion for the trailing twelve months (TTM) [3] - The company's current dividend yield stands at 7.00%, with shares priced at $2.27 as of November 13, 2025, reflecting a 72.2% decline over the past year [3][6] Recent Developments - Philosophy Capital Management LLC significantly reduced its stake in Alight by selling 3,759,133 shares during the third quarter of 2025, resulting in a remaining holding of 858,968 shares valued at $2.80 million [2][5] - The fund's exposure to Alight has decreased from 1.3% to 0.11% of its total assets under management (AUM), marking an 81% reduction in its position [3][5] Market Position - Alight's stock has underperformed the S&P 500 by 84.98 percentage points, indicating a challenging market environment since the 2022 bear market [6][10] - The company's stock has not recovered like other stocks post-bear market, instead trading within a range before resuming its downward trend [9][10]

Core Insights - Ralph Lauren Corporation (RL) has significantly outperformed the global apparel and luxury sector, with its stock rising 54.5% this year, while the industry declined by 13.5% [1][9] - The company's strong performance is attributed to disciplined brand elevation, strong pricing power, and consistent execution across various regions [1][5] Company Performance - Ralph Lauren's strategic roadmap, the "Next Great Chapter: Accelerate Plan," focuses on brand elevation, consumer centricity, and operational agility, contributing to its growth [5] - The company is expanding in high-potential markets like Asia while strengthening its core regions, ensuring diversified revenue streams [5] - Digital sales have seen double-digit growth across all regions, with a notable 36% increase in Asia during Q2 FY26 [6][9] Revenue and Margin Outlook - For fiscal 2026, Ralph Lauren expects revenue growth of 5%-7%, an increase from previous low-to-mid single-digit forecasts [10] - Operating margin is projected to expand by 60-80 basis points, supported by expense leverage and strategic pricing initiatives [11] - The company anticipates mid-single-digit revenue growth for the fiscal third quarter, with foreign currency expected to positively impact revenues [12] Challenges and Risks - Ralph Lauren faces near-term pressures from rising operating costs, which may limit margin flexibility despite steady revenue growth [13] - The company is cautious about a volatile macroeconomic environment, including tariff-related headwinds and persistent inflation, which could impact demand and margins [14] Valuation and Investment Considerations - Ralph Lauren is currently trading at a forward P/E multiple of 21.73X, higher than the industry average of 16.47X, indicating strong investor expectations for growth [15] - The company's differentiated product offerings and strong brand positioning make it a compelling investment, although increasing operating expenses may pressure near-term margins [16]

Core Viewpoint - K Wave Media Ltd. has announced a strategic acquisition of 42.25% of Hansol Inticube, aiming to integrate AI, ICT, and global entertainment IP to enhance fan engagement and transform into an EnterTech company [1][2][7] Group 1: Acquisition Details - The acquisition involves K Wave Media's wholly owned subsidiary, Play Company Co., Ltd., and is expected to close in the first quarter of 2026, pending customary closing conditions [1] - Hansol Inticube is a KOSDAQ-listed company specializing in AI language and software development, with a strong foundation in B2B ICT infrastructure [3] Group 2: Strategic Implications - This acquisition is positioned to combine K Wave Media's expertise in global entertainment with Hansol Inticube's advanced AI and ICT solutions, aiming to create personalized, data-driven experiences for K-culture fans [2][6] - The integration is expected to drive innovation in customer experience, fan engagement, and IP monetization within the content and entertainment industry [3] Group 3: Financial Expectations - For the first nine months of 2025, Hansol Inticube reported revenues of KRW 51 billion (approximately USD $35 million), which K Wave Media anticipates will significantly contribute to its financial performance [4] - K Wave Media aims to double its revenue in 2026 following the completion of the acquisition [4] Group 4: Future Business Development - Post-acquisition, K Wave Media plans to develop new AI service models and interactive communication platforms, enhancing its global competitiveness in the K-culture ecosystem [5][7] - The company expects to expand into AI solutions, fandom-based community platforms, and data-driven content distribution, marking a full transition into an EnterTech company [7]