CooperCompanies | | | | FY26 Guidance | Q1 2026 Guidance | | --- | --- | --- | --- | --- | | | Total | $4,299 - | $4,338 | $1,019 - $1,030 | | | | (4.5% - | 5.5% organic growth) | (3% - 4% organic growth) | | e | | | | | | u n e | CooperVision | $2,900 - | $2,925 | $693 - $700 | | v | | (4.5% - | 5.5% organic growth) | (3.5% - 4.5% organic growth) | | e R | | | | | | | CooperSurgical | $1,399 - | $1,413 | $327 - $330 | | | | (4% - | 5% organic growth) | (2% - 3% organic growth) | | P | | | | | | A A | EPS | ...

The Home Depot, Inc. (HD) stock has had a large volume of short-dated out-of-the-money (OTM) calls today. This can be seen in Barchart's Unusual Stock Options Activity Report. It could signal that investors are bullish on HD stock. HD is at $359.64 in midday trading today. The stock peaked on Sept. 11 at $423.22, but it's up from a recent low of $332.38 on Nov. 21. That could provide a good opportunity for covered call plays in the next two days. More News from Barchart HD stock - last 3 months - Barchar ...

Core Insights - The Invesco Bloomberg Analyst Rating Improvers ETF (UPGD) has garnered attention due to its intriguing premises and strategy changes [1] Group 1: Investment Strategy - The individual investor and writer Vasily Zyryanov employs various techniques to identify underpriced equities with strong upside potential and overappreciated companies with inflated valuations [1] - Zyryanov focuses on the energy sector, including oil & gas supermajors, mid-cap, and small-cap exploration & production companies, as well as oilfield services firms [1] - The analysis extends to other industries such as mining, chemicals, and luxury goods [1] Group 2: Analytical Approach - A meticulous assessment of Free Cash Flow and Return on Capital is emphasized to gain deeper insights beyond simple profit and sales analysis [1] - The investor acknowledges that some growth stocks may deserve their premium valuations, highlighting the importance of evaluating the market's current opinions [1]

Core Insights - Newmont Corporation achieved a record quarterly free cash flow of $1.6 billion in Q3 2025, more than doubling year-over-year, driven by a 40% increase in net cash from operating activities [1][7] - The company has cautioned that Q4 cash flow may decline due to increased spending on water treatment at Yanacocha and planned severance payments [2][7] - Despite potential short-term cash flow pressures, Newmont's strong balance sheet supports ongoing growth initiatives and debt commitments [3] Financial Performance - Newmont's free cash flow exceeded $1 billion for the fourth consecutive quarter, with net cash from operating activities reaching $2.3 billion [1][7] - Comparatively, Barrick Mining Corporation reported a free cash flow of $1.5 billion, up from $444 million year-over-year, while Agnico Eagle Mines Limited recorded approximately $1.2 billion, nearly doubling its previous year's figure of $620 million [4][5] Market Position - Newmont's shares have increased by 143.5% year-to-date, outperforming the Zacks Mining – Gold industry's rise of 139.1% [6] - The Zacks Consensus Estimate indicates a projected earnings increase of 73.9% for 2025 and 18.3% for 2026, with EPS estimates trending higher over the past 60 days [10] - Newmont is currently trading at a forward 12-month earnings multiple of 12.8, which is about 4.8% lower than the industry average of 13.44 [11]

Core Insights - The VictoryShares Free Cash Flow ETF targets U.S. large- and mid-cap equities with strong free cash flow profiles using a rules-based approach [2][5] - Allworth Financial LP reduced its position in the ETF by selling 3,192,152 shares, valued at approximately $105.3 million, bringing its total holdings to 3,512,017 shares worth $131.7 million [2][3] - The ETF's assets under management (AUM) stand at $22.7 billion, with a trailing twelve-month dividend yield of 1.50% [4][6] Performance Metrics - As of December 1, 2025, VFLO shares were priced at $38.80, reflecting a 7.99% increase over the past year, but underperforming the S&P 500 by 5.52 percentage points [3][4] - The ETF's 1-year total return is 7.99%, which is lower than the S&P 500's return of 14.4% [9][10] - Since its inception in June 2023, the fund has returned 61%, matching the S&P 500's total return over the same period [10] Investment Strategy - The ETF employs a transparent, rules-based selection process, focusing on the top 50 stocks with the highest growth prospects based on sales, EBITDA trends, and long-term EPS growth estimates [5][10] - The fund's strategy begins with the largest 400 most profitable U.S. companies and narrows down to the top 75 highest free cash flow-yielding value stocks [9][10] - The ETF has an expense ratio of 0.39%, which is justified by its potential long-term returns despite the availability of cheaper alternatives [11] Market Position - VFLO now represents 0.58% of reported 13F AUM, down from 1.14% in the previous quarter [3] - The ETF is structured to provide daily liquidity and is designed for both institutional and retail investors seeking exposure to high-free-cash-flow equities [6][12] - Despite the reduction in Allworth Financial's stake, the ETF is positioned as a solid investment option for long-term investors interested in free cash flow-generating companies [12]

Freshpet Conference Call Summary Company Overview - **Company**: Freshpet - **Industry**: Pet Food - **Focus**: Fresh pet food made from real meats, vegetables, and fruits, sold in branded refrigerators in grocery and pet specialty stores [1][3] Key Points and Arguments Company Progress and Capabilities - Freshpet has made significant progress in building its manufacturing network and scaling the business, now guiding for positive free cash flow a year ahead of schedule [3][4] - Improvements categorized into three areas: personnel, systems, and processes [4][5] - **Personnel**: Expanded team with key hires including a new COO and enhanced finance and marketing teams [4] - **Systems**: Investment in data analytics and manufacturing operations to improve overall equipment effectiveness (OEE) [5][6] - **Processes**: Simplification of operations to enhance efficiency as the company transitions from $300 million to $1 billion in revenue [6] Financial Performance and Margins - Focus on operational efficiency is expected to drive gross margin improvements, with a target of 48% by 2027 [8][44] - Logistics costs reduced from 11.5% to 5.5% of sales, and quality costs decreased from over 6% to around 2% [48][49] - Yield improvements in production are a key driver for lowering input costs [49] Market Dynamics and Growth Outlook - The pet food category, particularly dog food, has experienced a slowdown due to consumer hesitance in making long-term commitments amid economic uncertainty [9][10] - There is a significant pent-up demand for pet ownership that is expected to be unleashed once consumer confidence returns [10][12] - The cat food segment is growing at 5-6%, as cats are perceived as lower maintenance pets [13] Strategic Initiatives - Freshpet is adapting its marketing strategy to emphasize value and the benefits of fresh food, targeting consumers willing to trade up in quality [15][16] - Focus on expanding distribution in high-traffic retail locations like Walmart and Costco [17] - Plans to increase household penetration from 2.3 million MVPs (Most Valuable Pet owners) to 3-5 million [22] Competitive Landscape - Freshpet anticipates increased competition in the fresh pet food space but believes its established brand loyalty and manufacturing capabilities provide a strong competitive moat [40][41] - The company has invested in diverse product offerings and a broad retail footprint to maintain its market position [41][42] Technology and Innovation - New manufacturing technology is expected to enhance product quality and operational efficiency, with initial products ready for shipment soon [50][54] - The company is optimistic about the potential for yield and throughput improvements from the new technology [56][58] E-commerce and Consumer Trends - Freshpet's e-commerce sales are growing, with a focus on meeting consumers where they prefer to shop, including DTC and partnerships with platforms like Instacart [66][71] - The company aims to improve customer acquisition costs while increasing the lifetime value of customers [76][77] Long-term Vision - Freshpet is committed to improving returns on invested capital and has achieved free cash flow positivity this year, marking a significant milestone [86] - The company views the current economic challenges as temporary and remains focused on long-term growth in a large and expanding total addressable market (TAM) [84][85] Additional Important Insights - Freshpet's marketing strategy has evolved to better resonate with consumers, focusing on the quality and value of its products [78][79] - The company has built a strong business foundation over the past decade, investing $1.3 billion to create a resilient operation [86]

Texas Instruments Conference Call Summary Company Overview - **Company**: Texas Instruments (NasdaqGS:TXN) - **Date**: December 02, 2025 Key Points Industry Recovery and Growth - Texas Instruments is experiencing a recovery in 2025, with a projected growth rate of approximately **13%** at the midpoint for the year, following a period of zero growth in Q4 2024 [3][4][5] - The recovery is characterized by double-digit growth in several quarters, although Q3 saw a slight step down [3][4] - The overall market recovery is described as moderate, with uncertainty still prevalent [4] End Markets Performance - **Industrial and Automotive Markets**: Together, they account for about **70%** of Texas Instruments' business, with industrial showing a more significant recovery in double digits, while automotive is growing in single digits [6][7] - The automotive market is stable, with revenue levels returning to those of 2022 and 2023, indicating potential for further growth due to increasing content in vehicles, including EVs [8][9] - The data center market is emerging as a significant area of growth, currently valued at around **$1.2 billion** and expected to grow at a rate exceeding **50%** [10][13] Financial Management and CapEx - Texas Instruments is managing its inventory levels effectively, having reached desired inventory levels by the end of Q3 2025 [17][19] - CapEx for 2025 is projected at **$5 billion**, with expectations to reduce it to between **$2 billion and $3 billion** in 2026, depending on revenue performance [20][23] - The company emphasizes free cash flow management, aiming to return **100%** of cash flow to shareholders [55] Market Position and Competition - Texas Instruments is focused on regaining market share in the analog segment, having lost approximately **400 basis points** from its peak but gaining back **150 basis points** this year [34][35] - The embedded segment has seen a gradual share loss since 2017, attributed to strategic shifts in R&D focus [37][39] - The company is optimistic about future growth in both analog and embedded markets, with a commitment to rebuilding its embedded business [40][41] Geopolitical Considerations - Texas Instruments maintains a diversified manufacturing footprint, with operations in the U.S., China, Europe, and Japan, allowing flexibility in supply chain management amid geopolitical tensions [26][28] - The company views the Chinese market as an opportunity, reporting a **30%** year-to-date growth in its business there [29] M&A Strategy - Texas Instruments is open to M&A opportunities that align with its strategic goals, particularly in analog mixed-signal areas, while continuing to prioritize organic growth [49][52] Share Buybacks - The company has been aggressive in returning capital to shareholders, with potential for increased share buybacks as free cash flow improves [55][56] Future Outlook - Texas Instruments anticipates a record free cash flow year in 2026, with a target range of **$8 billion to $12 billion**, depending on market conditions [57][59] Additional Insights - The company is focused on internalizing its assembly and test capacity, aiming for **95%** internalization by the end of the decade [25] - Texas Instruments is committed to maintaining a competitive edge in the fast-evolving semiconductor market, emphasizing the importance of agility and customer service [32][33]

Investment Thesis - The committee recently bought Twilio, revisiting a name actively discussed from 2018 to 2021 [1] - Twilio experienced significant revenue growth (50-70%) previously, followed by a decline, necessitating diversification beyond messaging into voice and email [2] - The company's diversification into multi-channel communication is currently unfolding [2] Market Analysis - A breakout point exists at $151, with potential for the stock to move towards $200 by 2026 if this level is surpassed [3] - A one-year chart shows $151 as a significant potential breakout point [3] Financial Performance & Valuation - The company demonstrates profitability and free cash flow generation [4] - The forward PE ratio of approximately 26-27 represents a reasonable valuation [4]

Boeing - Boeing expects to return to positive annual free cash flow in 2026, projecting low single-digit billions after a $2 billion cash burn in 2025, marking a significant recovery milestone [1][2] - The CFO highlighted a steadier production cadence, particularly for the 737 Max and 787 Dreamliner, while working down the inventory of undelivered jets that has impacted cash flow [3] - The certification for the 777X is now targeted for 2027, which is over seven years late, and Boeing incurred a $4.9 billion charge due to slower flight testing [4] - Analysts expect Boeing to generate $2.46 billion in free cash flow next year, an improvement from the current year's outflow, although cash flow expectations have been cut due to 777X delays [5] Memory Stocks - Western Digital's price target has been raised to $200 from $180, driven by a strong supply-demand backdrop and sustained pricing momentum, particularly supported by cloud enterprise and AI workloads [7][8] - Seagate's price target has also been increased to $320 from $275, maintaining a buy rating, reflecting similar bullish sentiment as with Western Digital [8] Eli Lilly - Bank of America has reiterated a buy rating on Eli Lilly, raising the price target to $286 from $950, indicating over 20% upside potential [9][10] - Eli Lilly is viewed as a leader in GLP-1 drugs for obesity and diabetes, with a strong pipeline expected to drive significant growth [10][11] - The anticipated launch of an oral GLP-1 drug in early 2026 is seen as a major bullish catalyst, with FDA advancements through phase three trials [11][12]

The new executive made positive comments about free cash flow. ...