Group 1 - The market is currently focused on Nvidia Corp (NVDA) earnings, which are seen as pivotal for market sentiment [1] - The article highlights the anticipation surrounding Nvidia's performance and its potential impact on broader market trends [1] Group 2 - The author has a long position in Nvidia shares, indicating a bullish outlook on the company's stock [2] - The article is based on the author's personal opinions and does not represent any external business relationships [2]

Core Insights - Jet2 plc is a significant player in the airline and travel industry, offering flights and package holidays while remaining competitive despite challenges [1] Financial Performance - On November 19, 2025, Jet2 reported earnings per share of $3.93, exceeding the estimated $3.68, indicating effective cost management and operational optimization [2][6] - The company's revenue was approximately $7.18 billion, slightly below the estimated $7.27 billion, reflecting challenges in meeting sales expectations [2][6] - For the first half of Q2 2026, Jet2's revenue reached £5.34 billion, a 5% increase from the previous year, with 14.09 million passengers transported, up from 13.34 million [3] Strategic Initiatives - Jet2 announced a £100 million share buyback, which boosted investor confidence and resulted in a 4.3% increase in share price to 1,357p, although shares remain over 30% lower than their summer highs [4][6] - The share buyback reflects the company's commitment to returning value to shareholders [4] Valuation Metrics - Jet2 has a price-to-earnings (P/E) ratio of approximately 6.92, indicating a low valuation relative to earnings [5] - The price-to-sales ratio and enterprise value to sales ratio are both around 0.34, suggesting modest market valuation [5] - The enterprise value to operating cash flow ratio is approximately 2.28, highlighting strong cash flow generation [5]

Core Viewpoint - Cleveland-Cliffs has experienced a decline in share price of approximately 16.4% since the last earnings report, underperforming the S&P 500, raising questions about the potential for a breakout or continued negative trend leading up to the next earnings release [1] Financial Performance - The third-quarter 2025 adjusted loss was 45 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 48 cents per share, compared to an adjusted loss of 33 cents per share in the same quarter last year [2] - Revenues increased by 3.6% year over year to $4,734 million, but fell short of the Zacks Consensus Estimate of $4,886.6 million [2] Operational Highlights - Steelmaking revenues were approximately $4.6 billion for the third quarter, reflecting a year-over-year increase of around 3% [3] - The average net selling price per net ton of steel products was $1,032, down about 1.2% year over year, but exceeded the estimate of $996 [3] - External sales volumes for steel products were approximately 4.03 million net tons, up around 5% year over year, but missed the estimate of 4.3 million net tons [3] Financial Position - As of the end of the third quarter, cash and cash equivalents stood at $66 million, an increase of approximately 8.2% from the previous quarter [4] - Long-term debt rose by 4% sequentially to $8,039 million, with total liquidity at $3.1 billion [4] Outlook - The company has revised its full-year 2025 guidance, lowering capital expenditures to approximately $525 million from $600 million, and reducing selling, general, and administrative expenses to around $550 million from $575 million [5] - Cleveland-Cliffs aims for steel unit cost reductions of about $50 per net ton compared to 2024, while maintaining depreciation, depletion, and amortization expenses at approximately $1.2 billion [6] Estimate Revisions - Since the earnings release, there has been a downward trend in estimates, with the consensus estimate shifting down by 25.88% [7] - The stock currently holds a Zacks Rank of 3 (Hold), indicating an expectation of an in-line return in the coming months [10] VGM Scores - Cleveland-Cliffs has a poor Growth Score of F, a Momentum Score of F, and a Value Score of F, placing it in the bottom 20% quintile for value investors, resulting in an aggregate VGM Score of F [9]

Core Viewpoint - Zions Bancorporation's recent earnings report shows a positive trend in adjusted earnings per share and net interest income, despite challenges in loan balances and rising expenses [3][5][8]. Financial Performance - Adjusted earnings per share for Q3 2025 were $1.54, exceeding the Zacks Consensus Estimate of $1.40, and reflecting a 12.4% increase year-over-year [3]. - Net revenues reached $861 million, up 8.7% year-over-year, surpassing the Zacks Consensus Estimate of $845.5 million [5]. - Net interest income (NII) was $672 million, an increase of 8.4%, attributed to lower funding costs and a favorable mix in interest-earning assets [5]. - Non-interest income rose 9.9% to $189 million, driven by increases in most components except capital markets fees [6]. Expenses and Efficiency - Adjusted non-interest expenses increased by 4.2% to $520 million, with an adjusted efficiency ratio of 59.6%, down from 62.5% in the prior year, indicating improved profitability [7]. - The company recorded net loan and lease charge-offs of $56 million, significantly up from $3 million in the prior-year quarter, with provisions for credit losses rising to $49 million [9]. Credit Quality and Capital Ratios - The ratio of non-performing assets to loans and leases decreased by 8 basis points year-over-year to 0.54% [9]. - As of September 30, 2025, the Tier 1 leverage ratio was 8.8%, and the common equity tier 1 capital ratio was 11.3%, both showing improvement from the previous year [10]. Outlook - Management anticipates a marginal year-over-year increase in period-end loan balances, driven by commercial loans, while expecting a decline in commercial real estate classified balances [12]. - NII is projected to see moderate growth, supported by earning asset remix and loan and deposit growth [13]. - Customer-related non-interest income is expected to rise moderately due to increased customer activity and new client acquisition [14]. - Adjusted non-interest expenses are forecasted to increase moderately, influenced by technology costs and marketing expenses [15]. Market Reaction and Estimates - Since the earnings release, there has been a 7.4% upward trend in consensus estimates for the stock [16]. - Zions has a Zacks Rank 3 (Hold), indicating expectations for an in-line return in the coming months [18].

Core Insights - Lowe's Companies reported an earnings beat with $3.06 per share against an analyst forecast of $2.95, although sales were slightly lower than expected at $20.81 billion compared to the forecast of $20.84 billion [1][3] Financial Performance - The non-GAAP profit of $3.06 per share translates to a GAAP profit of $2.88 per share, reflecting a nearly 4% decline from the previous year [3] - Same-store sales (SSS) growth was 0.4%, which is double the growth rate of Home Depot, while total sales growth reached 3% [3][4] Market Context - Lowe's raised its full-year sales forecast to $86 billion but lowered its SSS forecast to predict flat sales against 2024 [5] - The company also adjusted its forecast for adjusted operating margin and indicated that earnings would be near the low end of previous guidance at approximately $12.25, adjusted for one-time items [5] Stock Valuation - Lowe's stock is trading at a price-to-earnings ratio of under 19x, which presents a modestly more optimistic outlook compared to Home Depot, although it is still considered a sell [6][7]

Core Insights - Marathon Petroleum reported $35.85 billion in revenue for Q3 2025, a year-over-year increase of 1.4% and a surprise of +16.33% compared to the Zacks Consensus Estimate of $30.82 billion [1] - The company's EPS for the quarter was $3.01, up from $1.87 a year ago, but fell short of the consensus estimate of $3.11, resulting in an EPS surprise of -3.22% [1] Financial Performance - The refining and marketing margin was reported at $17.60, slightly below the four-analyst average estimate of $17.70 [4] - Mid-Continent refining and marketing margin was $19.88, exceeding the average estimate of $18.55 [4] - West Coast refining and marketing margin was $19.17, significantly lower than the estimated $22.38 [4] - Gulf Coast refining and marketing margin was $14.77, slightly below the average estimate of $15.03 [4] Refinery Throughputs - Net refinery throughput was 3005 million barrels of oil, surpassing the average estimate of 2939.48 million barrels [4] - Crude oil refined in the Mid-Continent was 1,147.00 Mbpd, above the average estimate of 1,089.39 Mbpd [4] - Gross refinery throughputs in the West Coast were 557.00 Mbpd, exceeding the average estimate of 547.29 Mbpd [4] - Crude oil refined in the West Coast was 522.00 Mbpd, above the average estimate of 505.05 Mbpd [4] Stock Performance - Marathon Petroleum shares returned +8.4% over the past month, outperforming the Zacks S&P 500 composite's +1.5% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market [3]

Key Takeaways Jacobs is set to report Q4 FY25, with estimates calling for higher year-over-year earnings and revenues.Demand across energy, water, transportation and infrastructure is boosting backlog and activity.PA Consulting and its strength in Life Sciences, Semiconductors and Data Centers support growth.Jacobs Solutions, Inc. (J) is slated to report fourth-quarter fiscal 2025 results on Nov. 20, before the opening bell.In the last reported quarter, the company’s adjusted earnings topped the Zacks Conse ...

Core Insights - AmpliTech Group, Inc. is a significant player in the design and manufacturing of advanced signal processing components for satellite and 5G/6G communications networks [1] Financial Performance - For Q3 2025, AmpliTech reported an earnings per share (EPS) of -$0.009, which was better than the estimated EPS of -$0.09 [2] - The company's revenue reached approximately $6.09 million, exceeding the estimated $5 million [2] - The earnings call included discussions from key figures, indicating strong interest from financial analysts [3] Valuation Metrics - AmpliTech has a price-to-sales ratio of 1.38 and an enterprise value to sales ratio of 1.20, suggesting a reasonable valuation [4] - The company has a negative price-to-earnings ratio and earnings yield, indicating ongoing losses [4] - The enterprise value to operating cash flow ratio is also negative, highlighting challenges in generating positive cash flow [4] Liquidity and Debt Management - AmpliTech maintains a strong liquidity position with a current ratio of 2.85, indicating that current assets are 2.85 times its current liabilities [5] - The debt-to-equity ratio is low at 0.12, reflecting a conservative approach to debt [5] - These factors suggest that while the company faces profitability challenges, it remains financially stable [5]

Core Viewpoint - First Horizon National's recent earnings report shows strong performance in adjusted earnings per share and revenue growth, despite challenges in loan and deposit balances and mixed credit quality indicators [2][4][6]. Financial Performance - Adjusted earnings per share for Q3 2025 were 51 cents, exceeding the Zacks Consensus Estimate of 45 cents and up from 42 cents in the previous year [2]. - Net income available to common shareholders was $254 million, reflecting a 19.2% year-over-year increase [3]. - Total quarterly revenues reached $889 million, a 7.4% increase year-over-year, surpassing the Zacks Consensus Estimate by 5.1% [4]. Income Sources - Net interest income (NII) rose nearly 7.5% year-over-year to $674 million, with the net interest margin increasing by 24 basis points to 3.55% [4]. - Non-interest income was $215 million, also up 7.5% from the previous year [4]. Expense Management - Non-interest expenses increased by 7.8% year-over-year to $551 million, driven by rising costs across most components [5]. - The efficiency ratio was 61.92%, slightly up from 61.89% in the prior year, indicating a slight deterioration in profitability [5]. Loan and Deposit Trends - Total loans and leases were $63.05 billion, showing a slight decrease from the previous quarter, while total deposits were $65.52 billion, also declining moderately [6]. Credit Quality - Non-performing loans and leases increased by 4.7% year-over-year to $605 million [7]. - The allowance for loan and lease losses decreased by 5.6% year-over-year to $777 million, with the ratio of total allowance to loans and leases at 1.23%, down from 1.32% [7]. Capital Ratios - The Common Equity Tier 1 ratio was 11%, down from 11.2% year-over-year, and the total capital ratio decreased to 13.8% from 14.2% [9]. Future Outlook - Adjusted revenues are expected to remain flat to rise by 4% from $3.28 billion reported in 2024, while adjusted non-interest expenses are anticipated to remain flat or increase by 2% [10]. - The net charge-off ratio is projected to be between 0.15-0.25%, reflecting continued credit normalization [11]. - The CET 1 ratio is expected to be between 10.5-11%, indicating modest loan growth and capital deployment [11]. Market Sentiment - Recent estimates for First Horizon have trended upward, leading to a Zacks Rank of 2 (Buy), suggesting an expectation of above-average returns in the coming months [12][14].

Core Viewpoint - Wells Fargo reported strong Q3 2025 earnings, beating estimates primarily due to growth in fee income and improved net interest income, despite rising expenses [2][4][6]. Financial Performance - Adjusted earnings per share for Q3 2025 were $1.73, exceeding the Zacks Consensus Estimate of $1.55, and up from $1.54 in the prior-year quarter [2]. - Total revenues reached $21.44 billion, surpassing the Zacks Consensus Estimate of $21.19 billion, and increased by 5.2% year over year [4]. - Net interest income (NII) was $11.95 billion, a 2.2% increase year over year, driven by fixed-rate asset repricing and higher loan balances [4][5]. - Non-interest income grew by 9.3% year over year to $9.49 billion, benefiting from the absence of prior-year losses and higher asset-based fees [5]. Expense Management - Non-interest expenses rose to $13.85 billion, a 5.9% increase year over year, primarily due to higher severance costs and increased technology expenses [6]. - The efficiency ratio was 65%, slightly higher than 64% in the previous year, indicating a need for improved cost management [6]. Loan and Deposit Trends - Total average loans were $928.7 billion, up 1.3% sequentially, while total average deposits were $1.34 trillion, showing marginal sequential growth [7]. Credit Quality - The provision for credit losses decreased by 36% year over year to $681 million, with net loan charge-offs at 0.40% of average loans, down from 0.49% [8]. - Non-performing assets fell by 6.6% year over year to $7.83 billion, indicating improved credit quality [8]. Capital and Profitability Ratios - The Tier 1 common equity ratio was 11%, down from 11.3% in the previous year [9]. - Return on assets improved to 1.10%, up from 1.06% a year ago, and return on equity increased to 12.8% from 11.7% [10]. Future Outlook - For Q4 2025, net interest income is expected to be between $12.4 billion and $12.5 billion, with non-interest expenses projected at approximately $13.5 billion [11]. - For the full year 2025, NII is expected to align with 2024's $47.7 billion, while non-interest expenses are now anticipated to be around $54.6 billion, reflecting higher severance costs [12]. - The company aims for a return on tangible common equity of 15% in 2025, up from 13.4% in 2024, through efficiency initiatives and revenue growth [13]. Market Sentiment - Since the earnings release, there has been an upward trend in estimates revision, with a consensus estimate shift of 6.17% [14]. - Wells Fargo currently holds a Zacks Rank 2 (Buy), indicating expectations for above-average returns in the coming months [16].