Core Viewpoint - Apple Inc. is expected to report strong earnings for its first quarter, with a significant increase in both earnings per share and revenue compared to the previous year [1]. Financial Performance - Analysts predict Apple will report earnings of $2.67 per share, an increase from $2.40 per share in the same quarter last year [1]. - The consensus estimate for Apple's quarterly revenue is $138.42 billion, up from $124.3 billion a year earlier [1]. - The company has consistently exceeded analyst estimates for earnings per share for 11 consecutive quarters [1]. Stock Performance - Apple shares experienced a slight decline of 0.7%, closing at $256.44 on Wednesday [2].

Core Viewpoint - Cardinal Health is a resilient player in the healthcare services and products industry, competing effectively with major firms and showing growth potential [1][2]. Group 1: Stock Performance and Ratings - Cowen & Co. maintains a "Buy" rating for Cardinal Health, raising its price target from $225 to $233, reflecting confidence in the company's future performance [2][5]. - The stock recently closed at $210.93, with a 1.25% increase, outperforming the S&P 500's 0.5% gain [2][5]. Group 2: Financial Expectations - Cardinal Health's shares have risen by 0.02% over the past month, outperforming the Medical sector's decline of 0.63% [3]. - The Zacks Consensus Estimate forecasts revenue to reach $64.33 billion, marking a 16.41% rise from the prior year [4]. - Expected EPS for the upcoming earnings release on February 5, 2026, is $2.33, representing a 20.73% increase from the previous year [3][5]. - The company's market capitalization is approximately $50.12 billion, with a trading volume of 1,076,104 shares on the NYSE [4].

Core Viewpoint - W R Berkley Corp reported in-line earnings for Q4, with sales exceeding estimates, indicating stable performance despite a slight decline in share price [1] Financial Performance - The company posted quarterly earnings of $1.13 per share, matching analyst consensus estimates [1] - Quarterly sales reached $3.721 billion, surpassing the analyst consensus estimate of $3.661 billion [1] Stock Performance - Following the earnings announcement, W R Berkley shares fell by 0.4%, closing at $63.83 [1] Analyst Ratings and Price Targets - B of A Securities analyst Joshua Shanker maintained a Neutral rating on W R Berkley and lowered the price target from $69 to $66 [2] - Mizuho analyst Yaron Kinar also maintained a Neutral rating and cut the price target from $69 to $67 [2]

Financial Data and Key Metrics Changes - The company reported net income of $7.6 million, or $0.25 per diluted share, compared to a loss of $67.5 million, or $2.22 per share, in the previous quarter [6] - Non-performing loans decreased to $106.8 million, down $12 million from the prior quarter, representing 1.47% of total loans [7] - Total non-performing assets declined by $24 million to $108.9 million, representing 1.04% of total assets, down from 1.23% in the prior quarter [7] - The allowance for credit losses ended the quarter at $159.6 million, or 2.19% of total loans [8] - Tangible common equity to tangible assets is 10.87%, with a Tier 1 leverage ratio of 10.17% and CET1 at 13.83% [10] Business Line Data and Key Metrics Changes - Net interest income grew by $144,000 to $68.3 million, with a net interest margin (NIM) decline of five basis points to 2.38% [9][10] - Non-interest income increased to $12.2 million compared to $2.5 million in the previous quarter, primarily due to non-reoccurring losses and gains from SBIC investments [10] - Non-interest expense rose by $17.9 million to $59.8 million, driven by costs associated with the disposition of held-for-sale loans and valuation adjustments [10] Market Data and Key Metrics Changes - The company experienced a reduction in brokered deposits by $602 million while increasing core deposits by $692 million during 2025 [11] - The CRE concentration ratio declined to 322%, and the ADC concentration ratio decreased to 88% as of year-end [9] Company Strategy and Development Direction - The company is focusing on transitioning from remediation to execution, with an emphasis on consistent performance and improved asset quality [4][14] - The strategy includes reducing loan concentrations and enhancing balance sheet quality to support sustainable earnings [4][14] - The company anticipates a meaningful expansion in net interest margin, forecasting NIM to range between 2.6% and 2.8% for the year [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ability to expand pre-provision net revenue despite a smaller average balance sheet [11][12] - The company is cautious about capital management and will continue to monitor the criticized and classified loan levels before making further decisions [28] - Management noted that while there are signs of improvement, they will remain vigilant in monitoring credit quality and potential risks [33][34] Other Important Information - The company has $4.7 billion in available liquidity, maintaining two-times coverage of uninsured deposits [11] - The company is actively hiring producers in the C&I sector to support growth [72] Q&A Session Summary Question: Can you provide more details on the asset dispositions and expected timing? - The company has $90.7 million of loans held for sale, with two-thirds scheduled for resolution in the first quarter [19] Question: What is the potential for further moves into held-for-sale? - There could be situations where selling loans is the best strategy, but the pace is not expected to match 2025 [21] Question: What trends are being seen in the multifamily sector? - There are signs of stabilization and improvement in multifamily loans, with strong valuations compared to the office market [22] Question: How do you view the current reserves and future provisioning? - The company expects to see a decline in the allowance for credit losses as the criticized classified loan portfolio continues to decline [39] Question: Can you discuss the buyer interest in the secondary market? - Buyer interest is high, with a range of investors looking to purchase loans, including local developers and existing ownership [37] Question: What is the outlook for loan growth in the C&I sector? - The growth seen in the fourth quarter is not expected to be sustainable, but the C&I platform is expected to continue growing [55] Question: What is the current level of brokered deposits and plans for reduction? - The company has $1.56 billion in brokered deposits, with plans to reduce this significantly throughout 2026 [58][60]

Core Viewpoint - Interactive Brokers Group, Inc. reported strong earnings for the fourth quarter, exceeding analyst expectations in both earnings per share and revenue [1]. Financial Performance - The company posted quarterly earnings of 65 cents per share, surpassing the consensus estimate of 59 cents [1]. - Quarterly revenue reached $1.64 billion, exceeding the analyst consensus estimate of $1.61 billion and increasing from $1.39 billion in the same period last year [1]. Stock Performance - Following the earnings announcement, Interactive Brokers shares increased by 5.2%, trading at $75.20 [1]. Analyst Ratings and Price Targets - BMO Capital analyst Brennan Hawken maintained an Outperform rating and raised the price target from $80 to $82 [3]. - Barclays analyst Benjamin Budish maintained an Overweight rating and increased the price target from $82 to $83 [3].

Core Insights - Interactive Brokers Group, Inc. reported strong earnings for the fourth quarter, with earnings of 65 cents per share, surpassing the consensus estimate of 59 cents [1] - The company's quarterly revenue reached $1.64 billion, exceeding the analyst consensus estimate of $1.61 billion and showing an increase from $1.39 billion in the same period last year [1] - Following the earnings announcement, Interactive Brokers shares rose by 5.2%, trading at $75.20 [1] Analyst Ratings and Price Targets - BMO Capital analyst Brennan Hawken maintained an Outperform rating on Interactive Brokers and raised the price target from $80 to $82 [3] - Barclays analyst Benjamin Budish also maintained an Overweight rating and increased the price target from $82 to $83 [3]

Core Viewpoint - Zions Bancorporation reported strong fourth-quarter earnings, exceeding analyst expectations in both earnings per share and sales figures [1][2]. Financial Performance - The company achieved quarterly earnings of $1.76 per share, surpassing the analyst consensus estimate of $1.57 per share, marking a 31% increase from the previous year's earnings of $1.34 per share [2]. - Quarterly sales reached $879 million, exceeding the analyst consensus estimate of $862.818 million, reflecting a 7.1% increase [2]. Expenses and Donations - Adjusted noninterest expense rose by 7.7% to $548 million, which included a $15 million donation to the Zions Bancorporation Foundation [2]. - Excluding the donation, adjusted operating expenses would have increased by 4.7%, resulting in a positive operating leverage of 2.4% and an efficiency ratio of 60.6% [2]. Stock Performance and Analyst Ratings - Following the earnings announcement, Zions Bancorp shares increased by 2.9%, trading at $60.80 [2]. - Analysts have adjusted their price targets for Zions Bancorp, with Stephens & Co. raising it from $63 to $65 and RBC Capital increasing it from $63 to $64, while maintaining their respective ratings of Equal-Weight and Sector Perform [3][4].

Core Insights - Henry Schein, Inc. (HSIC) is a healthcare products and services distributor with a market cap of $9.4 billion, providing a wide range of products and solutions to healthcare providers [1] - The company is expected to report a profit of $1.30 per share for fiscal Q4 2025, reflecting a 9.2% increase from $1.19 per share in the same quarter last year [2] - For the current fiscal year ending in December, HSIC is projected to report a profit of $4.91 per share, up 3.6% from $4.74 per share in fiscal 2024, with further growth expected to $5.27 in fiscal 2026 [3] Performance Comparison - HSIC shares have increased by 11.5% over the past 52 weeks, lagging behind the S&P 500 Index's return of 16.9%, but outperforming the State Street Health Care Select Sector SPDR ETF's increase of 10.4% [4] - On December 9, HSIC shares rose 2.2% after Barclays analyst initiated coverage with an "Overweight" rating and an $86 price target, citing a favorable growth outlook [5] Analyst Sentiment - Wall Street analysts have a "Moderate Buy" rating for HSIC, with six recommending "Strong Buy," nine advising "Hold," and one indicating "Strong Sell" [6] - The current trading price is above the mean price target of $77.64, with a Street-high price target of $90 suggesting a potential upside of 12.5% from current levels [6]

Company Overview - Baxter International Inc. has a market cap of $10.3 billion and offers a wide range of medical products, pharmaceuticals, and healthcare technologies used in various settings including hospitals and home care [1] - The company operates through three segments: Medical Products and Therapies, Healthcare Systems and Technologies, and Pharmaceuticals, serving a global customer base [1] Financial Performance - Analysts expect Baxter to report an adjusted EPS of $0.53 for fiscal Q4 2025, reflecting an 8.6% decline from $0.58 in the same quarter last year [2] - For fiscal 2025, the projected adjusted EPS is $2.36, indicating a growth of 24.9% from $1.89 in fiscal 2024 [3] Stock Performance - Baxter's stock has decreased by 35% over the past 52 weeks, underperforming the S&P 500 Index, which rose by 16.9%, and the State Street Health Care Select Sector SPDR ETF, which gained 10.4% during the same period [4] - Despite reporting a better-than-expected Q3 2025 adjusted EPS of $0.69, the stock plunged 14.5% due to revenue of $2.84 billion missing forecasts [5] Guidance and Analyst Ratings - The company has cut its full-year adjusted EPS guidance to a range of $2.35 - $2.40 and reduced expected sales growth to 4% - 5% due to disruptions at its North Cove facility and issues with its infusion pump portfolio [5] - Analysts maintain a cautious consensus rating on Baxter's stock, with 2 "Strong Buys," 13 "Holds," and 1 "Moderate Sell," reflecting a slight decrease in bullish sentiment compared to three months ago [6] - The average analyst price target for Baxter is $21.71, suggesting a potential upside of nearly 8% from current levels [6]

Core Insights - Live Nation Entertainment, Inc. (LYV) is a leading live entertainment company with a market cap of $33.9 billion, involved in producing live concerts and providing ticketing services globally [1] Financial Performance - Analysts anticipate LYV will report a loss of $1 per share for the fiscal fourth quarter of 2025, a decline of 278.6% from a profit of $0.56 per share in the same quarter last year [2] - For the full fiscal year, a loss of $0.18 per share is expected, down 106.6% from an EPS of $2.74 in fiscal 2024, but a significant recovery is projected with an EPS of $2.12 in fiscal 2026 [3] Stock Performance - LYV stock has underperformed the S&P 500 Index, which gained 16.9% over the past 52 weeks, with LYV shares only increasing by 8.1% during the same period [4] - Following the Q3 results reported on November 4, 2025, LYV shares fell more than 10% in the subsequent trading session, with an EPS of $0.73 falling short of Wall Street's expectation of $1.21 and revenue of $8.5 billion missing forecasts of $8.6 billion [5] Analyst Ratings - The consensus opinion among analysts on LYV stock is bullish, with a "Strong Buy" rating from 18 out of 23 analysts, one suggesting a "Moderate Buy," and four giving a "Hold" rating; the average price target is $173.45, indicating a potential upside of 20.1% from current levels [6]