I bring in Diane King Hall to take a look at some of the key stories here on Wall Street. Good morning to you. Uh we're kicking it off with Levi Strauss.Not so great. >> No stock is under some pressure today. It did beat expectations on both the top and bottom line, but there's some concern about the impact of tariffs on Levis's which they expect to see some uh impact there.They are expecting fourth quarter revenue to decline approximately 3% from last year. However, they did their projections overall, thei ...

Welcome to Stocks and Translation, Yahoo Finance's video podcast that cuts through the market mayhem, the noisy numbers, and the hyperbole to give you the information you need to make the right trade for your portfolio. I'm Jared Flicker, your host, and with me is Yahoo Finance senior reporter Ali Canal, who's here to connect the dots and to be that bridge between Wall Street and Main Street. Today we're going to be talking about the US and global economies and we've got a crack economist to help us do just ...

Core Insights - The article discusses the author's transition to independence after 43 years in investment research, emphasizing a focus on actionable investment insights without external agendas [1] - The author specializes in rules/factor-based equity investing strategies, combining quantitative analysis with fundamental analysis to derive investment stories [1] - The narrative highlights the importance of understanding the future potential of investments rather than solely relying on historical data [1] Group 1 - The author has extensive experience covering a wide range of stocks, including large cap, small cap, micro cap, value, growth, and income [1] - The author has developed and worked with various quantitative models and previously managed a high-yield fixed-income fund [1] - The author has a background in investor education, having conducted numerous seminars and authored two books on stock selection and analysis [1] Group 2 - The author expresses a commitment to providing valuable insights on Seeking Alpha and welcomes feedback from readers [1] - The article reflects a unique approach to investing, prioritizing human intelligence over purely quantitative methods [1] - The author aims to inspire investment stories that illuminate future trends in the market [1]

Core Insights - The article discusses the author's transition to independent investment research after over 43 years in the industry, emphasizing a focus on actionable investment insights rather than adhering to external agendas [1] - The author highlights a unique approach to equity investing, combining quantitative analysis with fundamental theories to derive meaningful investment stories [1] - The article reflects on the author's extensive experience across various market segments and investment strategies, including managing a high-yield fixed-income fund and developing quantitative asset allocation models [1] Group 1 - The author has specialized in rules/factor-based equity investing strategies, aiming to use numbers to inspire human intelligence-driven investment narratives [1] - The author critiques traditional quantitative investing methods, advocating for a blend of factor analysis and classic fundamental analysis to understand a company's future potential [1] - The article mentions the author's previous roles, including editing stock newsletters and conducting investor education seminars, showcasing a commitment to educating investors [1] Group 2 - The author expresses enthusiasm for the new phase of sharing insights on Seeking Alpha, inviting feedback and engagement from the audience [1] - The article indicates a long-standing passion for investor education, evidenced by the author's authorship of books on stock selection and analysis [1] - The author encourages open dialogue and constructive criticism, indicating a willingness to engage with the investment community [1]

have to I I'd be remiss if we did not start with the Federal Reserve. What is Goldman expecting from the Fed tomorrow. So, we're expecting a 25 basis point cut.Uh we do to your point earlier think that it should be somewhat of a hawkish tone however in the presser and the most important parts will be you know the comments that are coming out of um Jay Powell in addition to where they see the forward dots and where we see some of the dissents especially considering the composition changes um within the Fed a ...

Summary of Alliance Entertainment Holding Corporation Conference Call Company Overview - **Company**: Alliance Entertainment Holding Corporation (NasdaqCM:AENT) - **Industry**: Distribution of entertainment products including toys, collectibles, music, movies, and video games [2][3] Core Business Model - Alliance Entertainment operates as a stocking distributor, providing e-commerce fulfillment and drop shipping services to independent and chain retailers [2][3] - The company manages a wide selection of over 340,000 SKUs from major suppliers in the entertainment sector [2][3] Financial Performance - **Revenue**: Over $1 billion, with a breakdown as follows: - Vinyl: 32% (~$320 million) - Gaming: 24% (~$240 million) - Movies (DVD, Blu-ray, UHD): 26% (~$260 million) - CDs: 12% (~$120 million) [5][6] - **Earnings Per Share (EPS)**: Increased from $0.05 to $0.11, more than doubling despite a slight revenue decline [9] - **Gross Profit**: Increased from $11.4 million to $15.8 million year-over-year [9] - **Adjusted EBITDA**: Significant growth noted, contributing to stock performance [9] Growth Drivers - Licensing agreements with major studios like Paramount have boosted revenue and gross profit margins [6][7][14] - The company has a strong focus on operational efficiency, including investments in automation (e.g., AutoStore system) that reduced labor costs significantly [11][22] - Direct-to-consumer fulfillment accounts for 40% of the business, enhancing revenue streams [12][33] Market Trends - Vinyl sales are experiencing a resurgence, with significant consumer interest in physical media as collectibles [35] - The company capitalizes on events like Record Store Day, shipping over 600,000 units during the latest event [12] Strategic Initiatives - Alliance Entertainment is exploring further licensing opportunities and potential acquisitions to enhance its market position [25][32] - The company aims to maintain gross profit margins above 15% while expanding its top line through strategic growth initiatives [25] Financial Health - The company has reduced its line of credit from $70 million to $55 million, with expectations to lower it further [21] - Interest expenses are decreasing, and the company is in the process of refinancing for better rates [22] Insider Ownership - Insiders own approximately 77% of the company, indicating strong alignment with shareholder interests [19] Analyst Coverage - Maxim has initiated coverage with a target price of $10, while the stock is currently trading above $7 [22] Conclusion - Alliance Entertainment is positioned for growth through strategic licensing, operational efficiencies, and a focus on consumer trends favoring physical media. The company is actively seeking opportunities to expand its market presence while maintaining strong financial health.

Core Perspective - The article discusses the ongoing legal and regulatory challenges faced by Apple, particularly regarding the App Store, and suggests that these distractions could hinder Apple's competitiveness in the AI era [1][16]. Group 1: Legal and Regulatory Challenges - Apple has been involved in significant legal battles with competitors like Spotify, Facebook, and Epic Games, who argue that Apple exerts too much control and takes excessive fees from the App Store [4][5]. - The App Store generates approximately $1 trillion annually, creating a new economy where various companies have emerged as billionaires due to their success on the platform [3][5]. - The author compares Apple's current situation to Microsoft's past antitrust issues, suggesting that Apple risks losing focus on innovation while engaged in these legal disputes [9][10]. Group 2: Competitive Landscape - The article highlights that the companies challenging Apple are not small startups but established billion-dollar entities that have benefited from the App Store [5][6]. - There is a historical context where new tech titans often rise at the expense of older companies, as seen with Netflix's dominance over cable providers [8]. - The ongoing competition in the tech industry is characterized by a race for AI dominance, with concerns that Apple may be falling behind in this critical area [16][17]. Group 3: Strategic Implications - Apple's strategy has traditionally involved a strong legal defense, which some believe has given it a competitive edge, but this approach may also be contributing to its current challenges [12][14]. - The company has been criticized for not engaging more proactively with regulators and legislators, unlike Microsoft, which has cultivated relationships in Washington [13][15]. - Investors are increasingly worried that Apple's focus on legal battles may detract from its ability to innovate in AI, especially as competitors like Meta push forward with new technologies [17][19].

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Financial Data and Key Metrics Changes - Revenue for the fourth quarter was $1.9 billion, up 12% quarter over quarter and 8% year over year, exceeding guidance [5][17] - Non-GAAP earnings per share for the quarter were $0.29, above the guidance range of a loss of $0.10 to a profit of $0.15 [19] - Non-GAAP gross margin for the fourth quarter was 26.4%, up 370 basis points from the prior quarter [18] Business Line Data and Key Metrics Changes - Cloud revenue for the fourth quarter was $213 million, up 8% sequentially and 25% year over year [18] - Client revenue was $1.1 billion, up 19% sequentially and 3% year over year [18] - Consumer revenue was $585 million, up 2% quarter over quarter and 12% year over year [18] Market Data and Key Metrics Changes - Data center represented over 12% of total bits shipped in the fourth quarter, indicating significant growth in this market [9] - Hyperscale capital expenditure in the U.S. is estimated to grow 47% year over year to $368 billion, with rising investments in Asia and Europe [11] Company Strategy and Development Direction - The company is transitioning to BIX-eight as its prominent node, which is expected to drive significant financial improvement and expanding margins [7][8] - The strategy focuses on the adoption of QLC-based SSDs and PCIe Gen five and six solutions to meet the demands of AI and data-intensive workloads [11][12] - Continued innovation in flash-based storage is emphasized, with a commitment to product development and strategic partnerships in the gaming sector [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about fiscal year 2026, anticipating a favorable supply-demand dynamic and continued demand exceeding supply [6][27] - The company plans to manage supply in line with demand, adjusting wafer starts and underutilizing fabs when necessary [22] - Management highlighted the importance of navigating tariffs and maintaining a competitive edge in the global market [60] Other Important Information - The company reduced inventory days from 150 to 135, reflecting improved demand-supply alignment [20] - A significant focus on high bandwidth flash memory technology was noted, with expectations for product samples by 2027 [15][16] Q&A Session Summary Question: Can you provide more depth on gross margins? - Management indicated that underutilization costs are decreasing, with startup costs impacting gross margins significantly [30] Question: What is the strategy behind the high bandwidth flash partnership? - The partnership aims to standardize technology for broader applicability across various markets, including AI workloads [34][36] Question: How do you view the growth in client demand in the second half of the year? - Management sees consistent demand from customers, with normalized inventory levels and an undersupplied market [58] Question: What is the outlook for the data center side? - The company aims to increase its market share in the data center segment, with ongoing qualifications and product launches [66] Question: How is the company navigating competitive dynamics in China? - The company views China as an attractive market and is confident in its ability to compete effectively [82] Question: What are the expectations for startup costs moving forward? - Management expects startup costs to decrease significantly in the upcoming quarters, with minimal impacts anticipated [46][71]

Financial Data and Key Metrics Changes - The fourth quarter revenue was $480.7 million, with non-GAAP EPS of $0.88, both exceeding the high end of revised guidance [18] - Fiscal year 2025 net revenue was $1.65 billion, up 21% from fiscal year 2024 [20] - Non-GAAP gross margin for the fourth quarter was 37.8%, up 260 basis points sequentially and up 1,000 basis points year on year [18] - Non-GAAP operating margin for the fourth quarter was 15%, up 420 basis points sequentially and over 2,000 basis points year on year [18] Business Line Data and Key Metrics Changes - Cloud and networking segment revenue for Q4 was $424.1 million, increasing 16% sequentially and 67% year on year [21] - Industrial tech segment revenue was $56.6 million, down 6% sequentially but up 6% year on year [22] - Cloud modules revenue grew by 50% quarter over quarter, contributing significantly to sequential revenue growth [12] Market Data and Key Metrics Changes - The demand for optical hardware and bandwidth is growing dramatically due to the central role of AI in customer business strategies [6][7] - The company expects to surpass $600 million in quarterly revenue by June 2026 or earlier, driven by strong growth in cloud and networking [9] Company Strategy and Development Direction - The company is focused on three significant areas for long-term growth: cloud modules, optical circuit switching (OCS), and co-packaged optics (CPO) [12] - The company is investing in manufacturing capacity to support cloud customers and is expanding its in-house OCS manufacturing capacity to meet high demand [13][14] - The company aims to maintain a competitive advantage through innovation in optical technologies and strategic partnerships with hyperscalers [7][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver continued top-line growth and margin expansion, driven by the rapid adoption of AI [17] - The company anticipates 2026 to be a breakout year for laser chip sales, particularly for 100 and 200 gig lane speeds [11] - Management noted that the tariff situation is fluid but believes their products are exempt from potential semiconductor tariffs [54] Other Important Information - The company is transitioning from three-inch to four-inch wafers to increase capacity and is also looking to expand to six-inch wafers in the future [104][109] - The company has received a significant order for 200 gig line speed EML chips, expected to be filled in December [10] Q&A Session Summary Question: Update on OCS award and revenue trajectory - Management indicated that the revenue ramp for OCS is better than expected, with significant revenues anticipated in early 2026 and a more meaningful inflection point in the second half of 2026 [30] Question: CPO opportunity and competitive landscape - Management feels confident in maintaining a competitive edge in the CPO market due to unique power levels and reliability of their lasers [33] Question: Contributions to the $600 million revenue target - Management expects continued strength in the components business and significant contributions from cloud modules and OCS [39] Question: Impact of semiconductor tariffs - Management believes their products are exempt from tariffs and has not seen material changes in business operations due to tariffs [54] Question: EML wafer fab capacity and pricing dynamics - Management is transitioning to larger wafers to increase capacity and anticipates that pricing discussions will become more significant in the coming quarters due to limited supply [106][109] Question: Profitability arc of OCS product offering - Management stated that OCS will be significantly above corporate margin averages and will be accretive to margins as volume increases [112]