We're back on Morning Trade Live. Here's where Warner Brothers, Netflix, and Paramount are trading to start the week as the back and forth to acquire Warner Brothers continues. We are mixed.We've got Warner Brothers Discovery High by 2.3%. Netflix is down one and a half. Paramount Skyance is up 5.8%.So, that very much is the focus of the morning trade. Joining us now for a closer look is Marley Kalin. And Marley, it wouldn't be an M&A Monday on a Tuesday without an update on this uh ongoing saga and another ...

Summary of General Motors Company (NYSE: GM) 2026 Conference Call Company Overview - **Company**: General Motors Company (GM) - **Date of Conference**: February 17, 2026 - **Key Speakers**: Paul Jacobson (CFO), Ashish Core Industry Insights - **Stability in 2026**: The company feels that 2026 is the most stable year in recent times, despite acknowledging that unexpected events may occur [3][5] - **Tariff Environment**: GM anticipates managing $3 billion to $4 billion in tariffs for the year, which is seen as manageable based on previous experiences [7] - **Inventory Management**: GM is carrying 30%-40% less inventory than in the past, allowing for quicker responses to market demands and improved cash flow [15] Financial Performance and Strategy - **Capital Allocation**: GM's priorities include heavy investment in the business, maintaining a strong balance sheet, and returning cash to shareholders [9] - **Cash Flow Improvement**: The disciplined approach to inventory management has resulted in $3 billion to $4 billion in better cash performance [25] - **Share Buybacks**: The company has been actively buying back shares, indicating confidence in its stock value despite market fluctuations [139][140] Product Development and Market Position - **New Truck Launch**: The launch of new trucks is expected to be significant for GM, with strong demand anticipated [42] - **Electric Vehicles (EVs)**: GM is focused on achieving cost parity between EVs and internal combustion engine (ICE) vehicles, with ongoing improvements in battery technology expected to reduce costs significantly [116][119] - **Consumer Demand**: There is a belief that EV demand will continue to grow, supported by technology advancements and expanding charging infrastructure [65] Cultural and Operational Changes - **Culture of Execution**: A significant cultural shift has occurred within GM, emphasizing proactive decision-making and execution [12][14] - **Supplier Relationships**: GM has improved its relationships with suppliers, focusing on mutually beneficial solutions to navigate supply chain challenges [49] Risks and Challenges - **Geopolitical and Regulatory Risks**: The company acknowledges the need for resilience against geopolitical risks and regulatory changes, particularly concerning tariffs and labor costs [43][44] - **Market Cyclicality**: GM aims to reduce self-induced cyclicality in the auto industry, which has historically led to deeper troughs during downturns [35][39] Future Outlook - **Focus on Technology**: GM is investing in AI and technology to enhance operational efficiency across various functions, including manufacturing and customer experience [98] - **Long-term Growth**: The company is positioning itself to capture the millennial and Gen Z markets by offering a diverse vehicle portfolio that appeals to younger consumers [105][107] Additional Insights - **Deferred Revenue**: GM is seeing growth in deferred revenue from software and services, which is expected to contribute positively to overall margins [82][94] - **Sustainability of EVs**: The company is committed to a balanced approach in EV investments, ensuring that products are competitive and profitable without overextending [75][76] This summary encapsulates the key points discussed during the conference call, highlighting GM's strategic focus, financial performance, and market positioning as it navigates the evolving automotive landscape.

Sanoma Corporation, Stock exchange release, 17 February 2026 at 18:30 EET SANOMA CORPORATION: ACQUISITION OF OWN SHARES 17 FEBRUARY 2026Nasdaq Helsinki Ltd: Date17 February 2026 Exchange transactionBuy Share classSANOMA Amount14,482 Average price/share, EUR8.9814 Highest price/share, EUR9.0700 Lowest price/share, EUR8.9200 Total cost, EUR130,068.63 The share buybacks are executed in compliance with Regulation No. 596/2014 of the European Parliament and Council (MAR) Article 5 and the Commission Delegate ...

Meridian Funds, managed by ArrowMark Partners, released its fourth-quarter 2025 investor letter for “Meridian Hedged Equity Fund”. A copy of the letter can be downloaded here. U.S. equity markets experienced a quarter supported by optimism about potential monetary easing and caution regarding economic growth and valuations. Early gains were driven by strong AI-related earnings and the US Federal Reserve’s rate cut in October, which improved expectations for financial conditions. However, market sentiment c ...

Lincoln Electric FY Conference Summary Company Overview - **Company**: Lincoln Electric (NasdaqGS:LECO) - **Event**: FY Conference held on February 17, 2026 Key Points Strategic Initiatives - **RISE Strategy**: An evolution of the existing strategy aimed at enhancing safety, productivity, and quality in operations. The acronym stands for: - **R**: Reimagine work processes - **I**: Innovate to differentiate from competitors - **S**: Serve customers better - **E**: Elevate team members' career aspirations [6][7] - **Focus on M&A**: The company aims for 300-400 basis points of growth through mergers and acquisitions, targeting both legacy welding and automation businesses [17][19]. Market Position and Growth - **Market Share**: The company is experiencing stable market share, with gains particularly in North America due to a balanced go-to-market strategy [45][47]. - **End Markets**: Greater visibility in automotive, heavy fabrication, and construction sectors, with a strong position in the Americas region [33][34]. Financial Performance and Outlook - **Volume Growth**: Anticipated mid-single-digit sales growth, with a focus on automation and core welding business [29][32]. - **Pricing Strategy**: Pricing is expected to remain flat in the second half of the year, with no incremental pricing built into forecasts [35][38]. - **Cost Management**: The company has successfully reduced finance costs by approximately 50 basis points as a percentage of sales [15]. Automation Business - **Short vs. Long Cycle**: About 20% of the automation business is short cycle, with margins more reflective of proprietary technology rather than project duration [48][49]. - **M&A Focus**: The company is looking to expand proprietary content in automation through targeted acquisitions [50][55]. Economic Indicators - **PMI Monitoring**: The company is closely watching the Purchasing Managers' Index (PMI) as a proxy for customer confidence in capital investments, which typically influences consumable volume growth [27][28]. Challenges and Risks - **European Market**: Facing challenges due to high fixed costs and competitive pricing pressures, particularly in the European market [46][75]. - **Economic Uncertainty**: The transition from internal combustion engines to electric vehicles has created headwinds in capital planning cycles for automotive clients [54]. Technology and Innovation - **AI Integration**: The company is leveraging AI to enhance internal operations and improve product value propositions, focusing on managing variability in factory environments [85][86]. Conclusion - **Future Outlook**: The company is cautiously optimistic about growth in 2026, emphasizing customer service and productivity improvements while preparing for potential market challenges [92][93].

美联储降息预期推迟，叠加现金仓位降至低位（3.7%），市场流动性敏感资产承压。此外，贵金属价 格大幅回调（黄金失守5000美元）进一步抑制风险资产偏好。 经济观察网 根据截至2026年2月17日的市场数据，惠普（HPQ.N）股价当日下跌3.06%，收于18.67美 元。其下跌主要受以下因素影响： 机构观点 花旗分析师Asiya Merchant于2月17日发布报告，维持对惠普的"持有"评级，但将目标价从22美元下调至 20美元。这一调整可能加剧市场对惠普盈利能力的担忧。 行业板块情况 当日美股科技股普遍下跌，纳斯达克指数下跌0.77%，电脑硬件板块跌幅达1.20%。市场对AI领域高资 本开支的回报预期趋于谨慎，科技七巨头盘中多数走低，拖累板块情绪。 业绩经营情况 惠普在2025年11月公布的2025财年第四季度财报显示，尽管营收同比增长4%，但净利润同比下降，且 2026财年每股收益指引中值（2.90-3.20美元）低于市场预期的3.33美元。同时，公司宣布将在2028财年 前裁员4000-6000人，引发市场对成本压力与增长可持续性的关注。 市场环境 来源：经济观察网 综上，惠普股价下跌是机构下调预期、板块 ...

Carillon Tower Advisers, an investment management company, released its fourth-quarter 2025 investor letter for the “Carillon Eagle Small Cap Growth Fund”. You can download a copy of the letter here. Small-cap stocks delivered marginal gains in the fourth quarter of 2025. The Russell 2000® Value Index outperformed the Russell 2000® Growth Index in the quarter, with more balanced results. In line with the broader stock market, small-cap stocks delivered solid results in 2025. The Russell 2000 Growth Index re ...

AUSTIN, Texas--(BUSINESS WIRE)--CrowdStrike (NASDAQ: CRWD) today announced it has been named Frost & Sullivan's 2026 Company of the Year for Cloud Workload Security (CWS) and the 2025 Company of the Year for Global SaaS Security Posture Management (SSPM) for the second consecutive time. Together, these recognitions validate CrowdStrike's leadership in cloud runtime security across cloud workloads, SaaS environments, and AI through a single, unified platform. As AI accelerates cloud adoption. ...

Chief Financial Officer Jennifer Wolfenbarger reported full-year 2025 fully diluted EPS of $3.22, down from $3.86 in 2024. She said the result was negatively impacted by a $41.5 million pension settlement charge net of tax benefit, or $0.91 per share, and $0.01 of restructuring charges. On an adjusted basis, diluted EPS was $4.14 in 2025 versus $3.92 in 2024, an increase of 6%.Beyond the reported figures, management emphasized initiatives aimed at accelerating growth and improving margins. Ruzynski said the ...

Summary of Ryder's Conference Call Company Overview - **Company**: Ryder System, Inc. - **Industry**: Transportation and Logistics - **Founded**: 1933, went public in 1955 - **Revenue**: Approximately $13 billion - **Stock Symbol**: R - **Segments**: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), Supply Chain Solutions (SCS) [1][2][3] Core Business Segments 1. **Fleet Management Solutions (FMS)** - Represents about 43% of total revenue - Offers truck leasing and maintenance services - Operates a fleet of nearly 240,000 vehicles - Revenue growth is dependent on the freight market [3][5][26] 2. **Dedicated Transportation Solutions (DTS)** - Accounts for 19% of revenue - Provides trucks and drivers for customers - Growth is influenced by the driver market and outsourcing trends [5][61] 3. **Supply Chain Solutions (SCS)** - Focuses on warehousing and logistics - Operates over 300 warehouses with over 100 million square feet of space - Long-term growth target is low double digits [6][40][54] Transformation and Strategy - **Balanced Growth Strategy**: Initiated in 2019 to de-risk the business model, improve returns, and accelerate growth in asset-light businesses [7][10] - **Revenue Mix Shift**: In 2018, asset-intensive business was 56% of revenue; by 2023, it decreased to 38% [11] - **Earnings Improvement**: Targeting low twenties return on equity (ROE) over the cycle, with a peak ROE of 17% expected in 2025 [12] - **Cost Savings**: Achieved over $100 million in savings from maintenance optimization initiatives [10][13] Financial Outlook - **2026 EPS Guidance**: Midpoint reflects an 8% year-over-year growth, with a range of 4%-12% [71] - **Potential Earnings Lift**: Identified $250 million in earnings lift as the freight market recovers [13][72] - **Free Cash Flow**: Expected to be $700-$800 million, with plans for organic growth, acquisitions, dividends, and share buybacks [83][85] Market Dynamics - **Freight Market**: Current softness in the freight market is impacting lease sales and rental fleet performance [27][69] - **Driver Market**: A tightening driver market is expected to drive growth in dedicated services as companies outsource more [61][66] - **Customer Sentiment**: Large companies are moving forward with projects, while small to mid-sized companies are more hesitant due to market conditions [70] Innovation and Technology - **AI Integration**: Ryder is leveraging AI in customer-facing systems and operational efficiencies [88][89] - **Automation**: Increased use of automation in warehouses and maintenance operations to enhance productivity [100][102] Management Transition - **Leadership Change**: Robert Sanchez will transition to Executive Chair, with John Diez taking over as CEO [15][78] - **Management Team**: Strong leadership team in place, with a focus on innovation and operational excellence [17][80] Conclusion - Ryder is positioned for future growth with a focus on innovation, operational efficiency, and a strong management team. The company anticipates that the best years are ahead as market conditions improve and demand for logistics services increases [105]