Core Insights - Humana Inc. reported third-quarter 2025 adjusted earnings of $3.24 per share, exceeding the Zacks Consensus Estimate by 11.3%, but down 22.1% year over year [1] - Adjusted revenues reached $32.65 billion, an 11.4% increase year over year, surpassing the consensus mark by 2.1% [1] - The quarterly results were driven by increased premiums, although offset by higher expenses and a decline in medical memberships [1] Q3 Operational Update - Premiums improved by 9.9% year over year to $30.7 billion, beating the Zacks Consensus Estimate by 1.2% [2] - Services revenues climbed 45.1% year over year to $1.6 billion, exceeding the consensus mark by 15.5% [2] - Investment income was $338 million, a decrease of 1.5% year over year, but above the model estimate of $312.6 million [2] Financial Performance - The benefit ratio deteriorated by 120 basis points year over year to 91.1% in Q3 [3] - Total operating expenses rose 12.5% year over year to $32.2 billion, exceeding the estimate of $31.2 billion [3] - Net income for the quarter was $194 million, down 59.6% year over year [3] Segmental Update - The Insurance segment recorded adjusted revenues of $31.2 billion, a 9.9% year-over-year increase, driven by improved Medicare premiums and an expanding customer base [4] - Adjusted operating income in the Insurance segment fell 17.9% year over year to $270 million [5] - Total medical membership in the segment was 15 million, an 8.3% decline year over year, below the Zacks Consensus Estimate of 15.2 million [5] CenterWell Performance - CenterWell revenues increased 16.6% year over year to $5.9 billion, surpassing the Zacks Consensus Estimate by 7.1% [6] - Adjusted operating income for CenterWell was $358 million, down 18.5% year over year [6] - The operating cost ratio deteriorated by 260 basis points year over year to 93.9% [6] Financial Position - As of September 30, 2025, Humana had cash and cash equivalents of $5.4 billion, up from $2.2 billion at the end of 2024 [9] - Total assets increased to $49.7 billion from $46.5 billion at the end of 2024 [9] - Long-term debt rose to $12.6 billion from $11.1 billion as of December 31, 2024 [9] Guidance and Outlook - Humana reaffirmed 2025 EPS guidance of about $17, expecting an 8.7% revenue growth for the year [8] - The company anticipates a decline of around 425,000 in Individual Medicare Advantage membership for 2025 [14] - The benefit ratio for the Insurance unit is projected between 90.1% and 90.5% for 2025 [15]

Core Insights - Axon Enterprise, Inc. reported third-quarter 2025 adjusted earnings of $1.17 per share, missing the Zacks Consensus Estimate of $1.63, with a year-over-year decrease of 19.3% due to rising operating costs and expenses [1][6] Revenue Performance - Total revenues reached $710.6 million, exceeding the consensus estimate of $700 million, and reflecting a 31% year-over-year increase driven by strong demand for TASER 10, Axon Body 4, and counter-drone equipment, along with growing adoption of premium software solutions [2] Business Segment Performance - **Connected Devices**: Revenues increased by 23.6% year over year to $405.4 million, driven by demand for TASER 10 devices and Axon Body 4, although adjusted gross margin decreased to 52.1% from 54.5% [4] - **Software & Services**: Revenues surged 41.1% year over year to $305.2 million, supported by an increase in users and premium software adoption, with adjusted gross margin improving to 76.8% from 76.3% [5] Margin Profile - Cost of sales rose 32.7% year over year to $283.3 million, while total operating expenses climbed 40% to $429.5 million, leading to a decrease in adjusted gross margin to 62.7% from 63.2% [6] Balance Sheet & Cash Flow - At the end of Q3 2025, cash and cash equivalents stood at $1.42 billion, a significant increase from $454.8 million at the end of 2024. However, net cash used from operating activities was $5.9 million compared to $158.1 million generated in the previous year [7] - Adjusted free cash flow was negative $71.4 million in the first nine months of 2025, down from $117.5 million in the prior-year period [8] Outlook - For Q4 2025, Axon anticipates revenues between $750 million and $755 million, indicating a 31% increase at the midpoint, with projected adjusted EBITDA of $178-$182 million [9] - For the full year 2025, revenues are expected to be around $2.74 billion, reflecting approximately 31% year-over-year growth, with an adjusted EBITDA margin of about 25% [11] Major Developments - Axon signed a definitive agreement to acquire Carbyne for $625 million, expected to close in Q1 2026, pending customary closing conditions [13]

Core Insights - Plains All American Pipeline, L.P. (PAA) reported third-quarter 2025 adjusted earnings of 39 cents per unit, exceeding the Zacks Consensus Estimate of 34 cents by 14.7% and up from 37 cents in the same quarter last year [1][8] PAA's Total Revenues - Net sales for the quarter were $11.58 billion, missing the Zacks Consensus Estimate of $12.96 billion by 10.6% and decreasing 7% from $12.46 billion in the year-ago quarter [2][8] Highlights of PAA's Q3 Earnings Release - Total costs and expenses were $11.09 billion, down 9.5% year over year due to lower purchases, field operating costs, and general and administrative expenses [3] - Net interest expenses increased to $135 million, up 19.5% from the prior-year quarter [3] PAA's Financial Update - As of September 30, 2025, cash and cash equivalents totaled $1.18 billion, a significant increase from $0.35 billion as of December 31, 2024 [4] - Long-term debt rose to $8.44 billion from $7.21 billion as of December 31, 2024, with long-term debt-to-total book capitalization increasing to 46% from 42% [4] PAA's 2025 Guidance - For 2025, PAA narrowed its adjusted EBITDA guidance to a range of $2.84-$2.89 billion from the previous range of $2.80-$2.95 billion, with adjusted free cash flow anticipated at $900 million [5][8] - The company plans disciplined capital investments, expecting full-year 2025 growth capital and maintenance capital of $490 million and $215 million, respectively [5]

Core Insights - Standard Motor Products (SMP) reported third-quarter 2025 adjusted earnings per share (EPS) of $1.36, exceeding the Zacks Consensus Estimate of $1.14 and increasing from $1.28 in the same quarter last year [1][10] - Total revenues for the quarter rose to $499 million, up from $399 million in the third quarter of 2024, and also surpassed the Zacks Consensus Estimate of $485 million [2][10] - The company raised its 2025 sales growth guidance to the low-to-mid 20s percent range, compared to the previous estimate of the low-20s percent range [8][10] Financial Performance - Gross profit increased to $161.8 million from $121.4 million year-over-year, while operating income rose to $47.6 million from $37.1 million in the prior-year quarter [2] - SG&A expenses rose significantly by 39.7% to $113.4 million [6] - Net cash provided by operating activities totaled $85.7 million at the end of the third quarter of 2025 [6] Segment Performance - Vehicle Control segment revenues were $197.7 million, a decline of 1.6% year-over-year, but exceeded the estimate of $188 million; operating income fell to $15.9 million from $22.6 million [3] - Temperature Control segment revenues increased to $144.7 million from $125 million, driven by strong sales, with operating income rising to $26.8 million from $16.4 million [4] - Engineered Solutions segment revenues remained flat at $72.2 million, while operating income decreased to $4.1 million from $5.3 million [5] Dividend and Financial Position - The company declared a quarterly dividend of 31 cents per share, payable on December 1, 2025 [7] - As of September 30, 2025, Standard Motor had $87.2 million in cash, up from $44.4 million at the end of 2024, while long-term debt increased slightly to $538.6 million [6]

Group 1: ADP Private-Sector Payroll Report - The ADP private-sector payroll report for October shows an increase of +42K new positions, exceeding expectations by +20K and marking a positive shift from a revised -29K the previous month [2][3] - Despite the positive report, the American labor market is in decline, averaging only +29K new jobs over the last four months compared to +53K and +197K in the previous two four-month periods [3] - Job growth was driven by large firms (over 500 employees) which added +73K jobs, while small and medium-sized companies experienced negative growth [4] Group 2: Industry Breakdown - The Trade/Transportation/Utilities sector led job growth with an increase of +47K, followed by Education/Healthcare at +26K, while Leisure/Hospitality and Professional/Business Services saw declines of -6K and -15K respectively [5] - Wage gains for job stayers averaged +4.5%, while job changers saw an increase of +6.7%, indicating a narrowing gap in wage growth between the two groups [6] Group 3: Q3 Earnings Results - McDonald's reported earnings of $3.22 per share, missing estimates of $3.35, but same-store sales rose +3.6%, leading to a +3% increase in pre-market trading [7] - Humana posted earnings of $3.24 per share, beating expectations by +11.34%, but lowered guidance resulted in a -5.5% drop in shares [8] - Aurora Cannabis achieved a significant earnings surprise with $0.09 per share compared to the anticipated $0.03, and revenues reached a record $70.5 million, up +15% year over year, resulting in a +9% increase in pre-market shares [9]

Core Viewpoint - Constellation Brands has experienced a decline in share price by approximately 7.8% since its last earnings report, raising questions about the potential for continued negative trends or a possible breakout before the next earnings release [1] Financial Performance - The company reported second-quarter fiscal 2026 results, with both sales and earnings surpassing the Zacks Consensus Estimate despite year-over-year declines due to weak consumer demand [2] - Comparable earnings per share (EPS) were $3.63, down 16% year over year, but exceeded the Zacks Consensus Estimate of $3.37. Reported EPS was $2.65, compared to a loss of $6.59 in the same quarter last year [3] - Net sales decreased by 15% year over year to $2.48 billion, slightly above the Zacks Consensus Estimate of $2.46 billion. Organic net sales fell by 8% year over year [3] Segment Performance - Sales in the beer segment fell 7% year over year to $2.35 billion, driven by an 8.7% decline in shipment volumes due to socioeconomic headwinds and distributor inventory rebalancing. Depletions decreased by 2.7%, with notable declines in Modelo Especial, Corona Extra, and Modelo Chelada brands, partially offset by growth in Pacifico and Victoria [4] - The wine and spirits segment saw a significant decline of 65% year over year in sales, dropping to $136 million, primarily due to a 76.4% decrease in shipment volumes linked to divestitures and changes in distributor obligations. However, depletions in this segment grew nearly 2% [5] Margin Analysis - Comparable operating income for the company was $886.2 million, down from $1,019.1 million in the prior-year quarter, attributed to weak performance across beer, wine, and spirits businesses [6] - The beer segment's operating income fell 12% year over year to $951.6 million, with an operating margin contraction of 200 basis points to 40.6%, influenced by higher costs of goods sold (COGS) and increased marketing expenses [7] - The wine and spirits segment reported an operating loss of $19.8 million, a significant decline from an operating income of $70.5 million in the previous year, with margins affected by divestitures and changes in distributor contractual obligations [8]

Core Insights - Teradata's stock surged 26.5% following a strong Q3 earnings report, exceeding analyst expectations for both earnings and revenue [1] - The company reported adjusted earnings of $0.72 per share on revenue of $416 million, surpassing forecasts of $0.54 per share and $406.3 million in revenue [1][3] - Despite the positive adjusted earnings, GAAP earnings were only $0.42 per share, although this represented a 27% year-over-year increase [3] Financial Performance - Free cash flow for the quarter increased to $88 million, indicating strong cash generation [3][4] - Revenue of $416 million, while better than expected, was down 5% year-over-year, and recurring revenue decreased by 2% [3] - Management provided guidance indicating a potential revenue decline of 2% to 4% year-over-year, with recurring revenue expected to fall by 1% to 3% [5] Future Outlook - Teradata's management anticipates GAAP profit for the full year to be between $1.22 and $1.26 per share, with free cash flow projected between $260 million and $280 million [6] - The current stock price of $26 results in a P/E ratio of approximately 21 and a price-to-free-cash-flow ratio of about 9.2, suggesting the stock remains undervalued [6]

Core Insights - DigitalOcean Holdings, Inc. reported revenue of $229.63 million for Q3 2025, marking a year-over-year increase of 15.7% and exceeding the Zacks Consensus Estimate by 1.37% [1] - The company achieved an EPS of $0.54, which is an increase from $0.52 a year ago, and surpassed the consensus EPS estimate of $0.50 by 8% [1] Financial Performance - The reported revenue of $229.63 million represents a positive surprise compared to the expected $226.53 million [1] - The EPS of $0.54 reflects a year-over-year growth, indicating improved profitability [1] Key Metrics - Net Dollar Retention Rate was reported at 99%, slightly below the estimated 99.5% [4] - Total Customers reached 640,000, which is lower than the average estimate of 678,244 [4] - Annual Run-Rate Revenue (ARR) was $919 million, exceeding the estimated $906.38 million [4] Stock Performance - DigitalOcean's shares have returned +1.4% over the past month, outperforming the Zacks S&P 500 composite's +1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Insights - Coterra Energy Inc. (CTRA) reported third-quarter 2025 adjusted earnings per share of 39 cents, missing the Zacks Consensus Estimate of 41 cents, primarily due to weaker oil and NGL realizations and a 30.1% increase in operating expenses, although the earnings improved from 30 cents in the same quarter last year [1][2] Financial Performance - Operating revenues for Coterra reached $1.8 billion, exceeding the Zacks Consensus Estimate by $60 million, driven by stronger-than-expected oil, NGL, and other revenues, despite a 33.7% decrease from the previous year due to lower contributions from derivative gains [2] - Cash flow from operations increased by 28.6% to $971 million, supporting a free cash flow of $533 million for the quarter [12][10] - The company declared a quarterly cash dividend of 22 cents per share, consistent with the previous quarter, to be paid on November 26, 2025 [3] Production and Pricing - Average daily production rose 17.3% year-over-year to 785 thousand barrels of oil equivalent (Mboe), surpassing the Zacks Consensus Estimate of 781 Mboe [6] - Oil production increased by 50.3% to 166.8 thousand barrels (MBbl) per day, slightly exceeding the consensus estimate, while natural gas production decreased by 7.3% to 2,894.6 million cubic feet (Mmcf) per day, falling short of expectations [7] - The average realized price for crude oil was $64.10 per barrel, a 13.4% decrease from the prior year, while the average realized natural gas price rose to $1.95 per thousand cubic feet [8][9] Costs and Expenses - Total operating expenses increased to $1,347 million from $1,035 million in the prior year, driven by higher costs including a 10.3% rise in depreciation, depletion, and amortization expenses [11] - The average unit cost rose to $19.33 per barrel of oil equivalent from $16.96 the previous year [10] Financial Position - As of September 30, 2025, Coterra had $98 million in cash and cash equivalents, with total liquidity of approximately $2.1 billion and a long-term debt of $4.2 billion, resulting in a debt-to-capitalization ratio of 20% [13] Guidance - Coterra expects 2025 capital expenditures of roughly $2.3 billion and has raised its full-year production outlook to 772-782 Mboepd, with specific fourth-quarter guidance indicating continued operational strength [14][15]

Group 1: Insulet Corporation - Insulet Corporation, a maker of wearable devices for insulin management, was named as a final trade by Joseph Terranova from Virtus Investment Partners [1] - Stifel analyst Jonathan Block reinstated Insulet with a Buy rating and set a price target of $370 [1] - Insulet shares rose 0.5% to close at $320.27 on Tuesday [5] Group 2: Uber Technologies, Inc. - Uber reported a 20% year-over-year revenue growth to $13.47 billion, surpassing the analyst consensus estimate of $13.28 billion [2] - The company reported adjusted EPS of 81 cents, beating the analyst consensus estimate of 69 cents [2] - Uber shares dipped 5.1% to close at $94.67 during the session [5] Group 3: Apollo Global Management - Apollo Global Management reported adjusted earnings per share of $2.17, beating the consensus estimate of $1.91 [3] - The company reported sales of $9.82 billion, significantly exceeding the consensus estimate of $5.02 billion [3] - Apollo Global Management shares gained 5.3% to close at $130.51 on Tuesday [5]