Key Points Apple is a laggard in the AI revolution, and you can see it in its financial performance. Amazon is utilizing AI and automation in its cloud computing and e-commerce businesses. Alphabet is best positioned to monetize AI among the big technology players. 10 stocks we like better than Amazon › Apple is currently the second most valuable company in the world, with a market cap of $3.9 trillion. But is it actually an artificial intelligence (AI) loser? The smartphone maker has lost tons of ...

Fed Chair Jerome Powell acknowledged Wednesday that the soaring stock market is helping support consumer spending — and the overall economy — right now. If the market goes down, Powell said, it could hurt consumer spending. But spending wouldn't take a large hit unless the market plunged. "I think it's certainly a factor supporting consumption right now," Powell said in response to a question asked by Yahoo Finance about how much of consumer spending and the economy hinges on the stock market remaining s ...

Core Insights - Equinix Inc. reported a third-quarter 2025 adjusted funds from operations (AFFO) per share of $9.83, exceeding the Zacks Consensus Estimate of $9.26 and reflecting an 8.6% year-over-year increase [1][9]. Financial Performance - Total quarterly revenues reached $2.32 billion, slightly missing the Zacks Consensus Estimate by 0.32%, but showing a 5.2% increase year over year [2]. - Recurring revenues amounted to $2.22 billion, up 7.6% from the previous year, while non-recurring revenues fell 28.9% to $101 million [3][4]. - Adjusted EBITDA was reported at $1.15 billion, a 9.5% year-over-year increase, with an adjusted EBITDA margin of 50% [4]. - AFFO rose 11.4% from the prior year to $965 million [4]. Regional Performance - Revenues from the Americas and EMEA regions increased by 8% and 5.5% year over year, totaling $1.04 billion and $784 million, respectively, while Asia Pacific revenues slightly decreased to $497 million [4]. Capital Expenditures - The company spent $64 million on recurring capital expenditures, a decrease of 7.2% year over year, while non-recurring capital expenditures rose significantly by 65.3% to $1.07 billion [5]. Balance Sheet - As of September 30, 2025, Equinix had $6.9 billion in available liquidity and total gross debt of approximately $17.3 billion, with a net leverage ratio of 3.6 and a weighted average maturity of 6.9 years [6]. Dividend Announcement - Equinix's board declared a quarterly cash dividend of $4.69 per share, payable on December 17, 2025, to shareholders on record as of November 19, 2025 [7]. Guidance Revision - For Q4 2025, Equinix projects revenues between $2.411 billion and $2.531 billion, indicating a 7% increase at the midpoint compared to the previous quarter, with adjusted EBITDA expected in the range of $1.187 billion to $1.267 billion [8]. - The company raised its 2025 AFFO per share guidance to a range of $37.95 to $38.77, reflecting an 8-11% annual growth [9][10]. - Total revenue guidance for 2025 is now set between $9.208 billion and $9.328 billion, indicating a growth of 5-7% from 2024 [11].

Financial Data and Key Metrics Changes - The company reported a core FFO per share guidance reduction of $0.14 to $11.25, reflecting a year-over-year earnings growth expectation of 2.2% [12][13] - Same-store residential revenue growth is now projected at 2.5%, with operating expense growth at 3.8%, leading to same-store residential NOI growth of 2% [12][16] Business Line Data and Key Metrics Changes - The third-quarter core FFO per share results were $0.05 below prior expectations, with $0.03 attributed to same-store portfolio results, including lower revenue and higher operating expenses [9][13] - The company expects same-store revenue growth to be 2.5% for the full year, down 30 basis points from mid-year outlook, primarily due to average lease rate and economic occupancy [16][18] Market Data and Key Metrics Changes - Apartment demand has softened due to reduced job growth, with the National Association of Business Economics projecting only 725,000 jobs in 2025, down from over 1 million [9][10] - The Mid-Atlantic region has seen a decline in job growth, with expectations of continued weakness due to a government shutdown [17][19] Company Strategy and Development Direction - The company is focusing on a $3 billion project pipeline under construction, expected to generate significant earnings uplift in 2026 and 2027 [5][6] - The company is strategically increasing development activity while the industry retrenches, taking advantage of lower costs and subdued competition [24][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the portfolio's positioning due to low new supply levels and a lack of affordable housing alternatives [18][19] - The company anticipates a challenging revenue environment but expects to benefit from a low level of new supply and improving bad debt metrics in 2026 [19][20] Other Important Information - The company repurchased $150 million of its stock at an average price of $193 per share during Q3 [6] - The balance sheet remains strong with low leverage and over $3 billion in available liquidity, providing flexibility for future investments [6][12] Q&A Session Summary Question: How is the company looking at the next crop of projects and capital allocation decisions? - The company emphasized its strong balance sheet and plans for $1 billion in development starts for 2026, focusing on established regions with stable operating fundamentals [26][28] Question: Will the company reduce exposure in Southern California and the Mid-Atlantic? - Management indicated a strategy to reduce exposure in these markets while increasing focus on Northern Virginia and other stable areas [31][32] Question: What drove the repair and maintenance cost surprises? - The company experienced higher costs due to various factors, including unit conditions and unexpected repairs, leading to a higher cost per turn [44][45] Question: How is the company managing lease-up performance in Denver? - Lease-ups in Denver have been slower than expected, with concessions averaging 150% of a month's rent, but one community has stabilized [50][52] Question: What is the outlook for bad debt and its impact on the portfolio? - Bad debt is expected to improve as the company processes existing cases, with a projected benefit of at least 15 basis points in 2026 [66][67]

By Chuck Mikolajczak NEW YORK (Reuters) -Global shares declined on Thursday and were on pace for their biggest daily decline in three weeks, weighed down by large drops in megacaps Microsoft and Meta Platforms, while the dollar rose against the yen after policy announcements from the Federal Reserve and Bank of Japan. Markets were also digesting comments from U.S. Federal Reserve Chair Jerome Powell on Wednesday, who dented expectations the central bank will proceed with another interest rate cut at its ...

Financial Data and Key Metrics Changes - Revenue for Q3 was $691.8 million, an increase of 3.9% year-over-year, exceeding the high end of guidance [4][24] - Adjusted net income per diluted share was $4.59, an increase of 5.5% year-over-year [5][24] - Adjusted EPS growth was 7.2% when excluding fuel price and foreign exchange impacts [5] - The company aims for long-term revenue growth of 5%-10% and double-digit long-term adjusted EPS growth [5][6] Business Line Data and Key Metrics Changes - **Mobility Segment**: Revenue increased by 1% despite a drag of 1.4% from lower fuel prices and foreign exchange rates [24][25] - **Benefits Segment**: Total revenue was $198.1 million, up 9.2%, with SaaS account growth of 6% [25][17] - **Corporate Payments Segment**: Revenue was $132.8 million, an increase of 4.7%, with purchase volume declining 0.9% year-over-year [26] Market Data and Key Metrics Changes - The Mobility segment remains the largest, representing roughly half of total revenue [13] - Same store sales in the over-the-road market softened during Q3, with a noted decline in transaction levels [14][15] - The Benefits segment continues to grow, with WEX retaining its position as the fifth largest HSA custodian in the market [17] Company Strategy and Development Direction - The company focuses on three strategic pillars: amplifying core business, expanding reach into adjacent workflows, and accelerating innovation [6][7] - AI is leveraged to enhance productivity and decision-making, driving a 20% increase in product innovation velocity [7][8] - A comprehensive portfolio assessment was conducted, confirming that the segments work better together, enhancing competitive advantages [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to growth, particularly in Corporate Payments, as they move past the OTA customer transition [5][30] - The macroeconomic environment remains dynamic, but the company is optimistic about future performance due to strategic investments [30][32] - The company anticipates continued growth in the Benefits segment, especially with new legislation expanding HSA eligibility [18][30] Other Important Information - The company announced the appointment of Dave Foss to the Board of Directors, effective November 3rd [20][21] - The leverage ratio at the end of Q3 was 3.25x, down from 3.5x at the end of Q1, indicating a focus on debt reduction [28] Q&A Session Summary Question: What was the conclusion of the strategic review regarding the stock? - Management indicated that the board conducted a thorough review with independent investment banks, focusing on executing the strategic plan and improving stock performance [34][35] Question: Can you elaborate on the trends in Mobility and the impact of over-the-road sales? - Management noted a slight worsening in over-the-road sales but emphasized a focus on sales and retention, viewing the situation as transient [36][40] Question: What are the expectations for Corporate Payments moving forward? - Management expressed optimism about returning to growth in Corporate Payments, with strong momentum and a robust pipeline of new customer opportunities [44][46] Question: How is the company managing credit in the Mobility segment? - Management stated that credit standards have been tightened, and they are making informed credit decisions, leveraging AI for better risk management [52][53] Question: What is the sensitivity of the business to fuel prices and interest rates? - Management provided specific figures indicating that a $0.10 change in fuel prices could impact revenue by $20 million and EPS by $0.35 [55][56] Question: What are the expectations for adjusted operating margin for the rest of the year? - Management did not provide specific guidance but indicated that margins are expected to expand next year assuming stable macro conditions [83]

Core Insights - The market is currently experiencing a mix of reactions to recent events, including a rate cut and a trade truce, but uncertainties remain regarding their implementation and effectiveness [1][2][5] Market Reactions - The recent rate cut was characterized as a "hawkish cut," with inflation still above target and signs of a softening labor market [3] - Following the Fed's announcement, the NASDAQ experienced a significant selloff before rallying back, indicating volatility in market reactions [4] Earnings Performance - Approximately 80% of the S&P 500 companies that have reported earnings so far have exceeded expectations, contributing positively to market sentiment [6] Market Drivers - The market is influenced by three main factors: earnings expectations, rate-cutting expectations, and the ongoing narrative around AI technologies [6][9] - Retail traders have shifted their focus from mega-cap stocks to smaller, more speculative investments, indicating a change in market dynamics [8][9] Market Structure - There is a notable K-shaped recovery in the stock market, with significant disparities in performance across different sectors and stocks [10][11] - The breadth of the market has been weak, with historical data showing poor breadth even on up days, suggesting underlying weaknesses [11][12] Future Outlook - The likelihood of continued rotations within market segments is high, with index-level gains remaining healthy while average member performance may vary significantly [13]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $691.8 million, an increase of 3.9% year over year, exceeding the high end of guidance [5][27] - Adjusted net income per diluted share was $4.59, an increase of 5.5% year over year, also above the high end of guidance [6][27] - Excluding the impact of fuel prices and foreign exchange rates, revenue growth was 4.4% and adjusted EPS grew 7.2% [6][27] Business Line Data and Key Metrics Changes - **Mobility Segment**: Revenue increased 1% despite a drag of 1.4% from lower fuel prices and foreign exchange rates; transaction levels were down slightly from the prior year [16][28] - **Benefits Segment**: Total revenue was $198.1 million, up 9.2%; SaaS account growth was 6% and HSA accounts increased by 7% [20][28] - **Corporate Payments Segment**: Revenue was $132.8 million, an increase of 4.7%; purchase volume declined 0.9% year over year, but the net interchange rate increased, leading to revenue growth [22][30] Market Data and Key Metrics Changes - The Mobility segment continues to face challenges in the over-the-road market, with same-store sales softening during Q3 [17][41] - The Benefits segment is well-positioned for growth, especially with new legislation expected to expand HSA eligibility [21][50] - Corporate Payments is seeing broad-based adoption across industries, with a notable 20% year-over-year growth in direct accounts payable volumes [22][30] Company Strategy and Development Direction - The company aims to simplify business operations through a differentiated value proposition, focusing on sustainable growth, profitability, and strong free cash flow [8][12] - Three strategic pillars include amplifying core business, expanding reach into adjacent workflows, and accelerating innovation through AI [9][10] - The company is leveraging AI to enhance product innovation and operational efficiency, resulting in a 20% increase in product innovation velocity [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to growth, particularly in Corporate Payments, and emphasized the importance of maintaining high retention rates [6][34] - The macroeconomic environment remains dynamic, but the company is optimistic about its strategic investments yielding results [6][34] - Management anticipates continued growth in the Benefits segment and expects to navigate through the current challenges in Mobility [34][35] Other Important Information - The company appointed Dave Foss to the Board of Directors, bringing valuable experience in financial services and technology [25] - The leverage ratio at the end of Q3 was 3.25 times, down from 3.5 times at the end of Q1, indicating a focus on debt reduction [32] Q&A Session Summary Question: What was the conclusion of the strategic review regarding the stock? - Management indicated that the board conducted a thorough review with independent investment banks, focusing on executing the strategic plan and overcoming the OTA customer transition impact [38][39] Question: Can you elaborate on the trends in Mobility and the impact of over-the-road softness? - Management noted a slight worsening in over-the-road performance but emphasized strong sales efforts and customer retention strategies [41][42] Question: What are the expectations for Corporate Payments moving forward? - Management expressed excitement about returning to growth in Corporate Payments, highlighting strong momentum and product capability extensions [48][49] Question: How is the company managing credit risk in the Mobility segment? - Management stated that credit standards have been tightened, and investments in risk models have improved credit decision-making [55][56] Question: What is the fuel price sensitivity of the business? - A $0.10 change in fuel prices annually would impact revenue by $20 million and EPS by $0.35, with quick flow-through effects on both [58][59]

Core Insights - Enterprises are transforming contact centers from transactional hubs to growth engines through AI integration [1][2][3] - The adoption of generative AI and analytics is redefining customer interaction management and aligning operations with long-term business goals [2][3] AI Integration and Impact - AI-enabled customer experience solutions are shifting organizations from reactive support to proactive engagement, enhancing consumer loyalty [2][3] - Significant improvements in service quality and productivity are being achieved by integrating AI with core data and knowledge management frameworks [3][4] Challenges in AI Adoption - Many enterprises face difficulties in scaling AI solutions beyond pilot projects due to data quality issues and integration challenges with legacy systems [4] - Organizations are reassessing investment priorities to balance innovation with measurable outcomes, utilizing modular AI platforms for scalability [4] Workforce Transformation - Contact center agents are evolving into brand ambassadors, leveraging AI insights for complex interactions [5] - Upskilling and continuous learning programs are becoming essential for workforce transformation, with AI literacy being a critical requirement [5] Strategic Alignment - Organizations that effectively align people, data, and technology are realizing the greatest value from AI in customer experience [6] - Increased investments in specialized talent and solutions by service providers are facilitating enterprise engagement in modernizing contact centers [6] Trends in Customer Experience - The report highlights trends such as the shift towards omnichannel engagement models and the importance of responsible AI governance in customer experience functions [7] - The 2025 ISG Provider Lens report evaluates 34 providers across three quadrants: Digital Operations, Intelligent Agent Experience, and Intelligent CX [8] Provider Recognition - Concentrix, Foundever, Genpact, HGS, Konecta, Sutherland, TP, Transcom, and WNS are recognized as Leaders in all three quadrants [9] - Firstsource and HCLTech are identified as Rising Stars in two quadrants each, indicating promising portfolios and high future potential [10]

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $342 million and adjusted diluted EPS of $1.07, both exceeding expectations, with adjusted EBITDA growing by 6% and adjusted diluted EPS by 11% year over year [5][15] - Total company revenue increased by 3% year over year to $2.1 billion, with LTL segment revenue also up to $1.3 billion [14][15] - Adjusted EBITDA in the LTL segment reached a record $308 million, with adjusted operating income up 10% to $217 million [15][18] Business Line Data and Key Metrics Changes - In the North American LTL business, adjusted operating income grew by 10% year over year to $217 million, and the adjusted operating ratio improved by 150 basis points to 82.7% [5][15] - LTL yield excluding fuel increased by 5.9% year over year and revenue per shipment excluding fuel improved sequentially for the 11th consecutive quarter [9][19] - The European transportation segment saw a 7% year-over-year revenue increase, with adjusted EBITDA of $38 million [15][22] Market Data and Key Metrics Changes - Shipments per day in the LTL segment decreased by 3.5% year over year, while weight per shipment declined by 2.7%, resulting in a 6.1% decrease in tonnage per day [18] - Despite the decline, both shipments and tonnage per day improved year over year compared to the second quarter, indicating a positive trend [18] Company Strategy and Development Direction - The company focuses on high-growth freight markets and leverages a strong LTL network, utilizing 30% excess door capacity to optimize freight flows [8][12] - Investments in AI-driven technology are enhancing operational efficiency and service quality, contributing to above-market yield growth and margin expansion [10][12] - The company aims to continue improving its service offerings and expand its local account base, which now represents 25% of total shipments, up from 20% [18][59] Management's Comments on Operating Environment and Future Outlook - Management noted that while the freight market remains soft, there is optimism for a recovery in 2026, with customers increasingly expecting an acceleration in demand [81][82] - The company anticipates a sequential increase in margins for the fourth quarter, outperforming typical seasonal patterns [30][36] - Management emphasized the importance of maintaining pricing discipline and investing in service quality to support long-term growth [75][76] Other Important Information - The company ended the quarter with $335 million in cash and a net leverage ratio of 2.4 times trailing 12 months adjusted EBITDA [16] - The company expects to moderate capital expenditures while increasing free cash flow conversion, positioning itself for greater flexibility in returning capital to shareholders [16][63] Q&A Session Summary Question: Insights on October tonnage and margin expectations - Management indicated that October tonnage is expected to be down around 3%, consistent with typical seasonality, and they anticipate outperforming seasonal margin expectations in Q4 [27][30] Question: Thoughts on margin improvement into next year - Management expects strong operating ratio improvement and earnings growth in 2026, even without a macro recovery, driven by above-market yield growth and cost control initiatives [34][36] Question: Pricing outlook for the fourth quarter - Management expects yield excluding fuel to grow in a similar range to the third quarter, maintaining a constructive pricing environment [69] Question: Competitive environment and customer sentiment - Management noted that while demand remains soft, there is optimism for 2026, with customers increasingly valuing service quality and reliability [81][82] Question: Importance of volume growth in the next upturn - Management highlighted that in a volume growth environment, all dynamics—pricing, volume, and cost—would positively impact earnings and margin expansion [90][92]