Aristotle Capital Management, LLC, an investment management company, released its “Value Equity Strategy” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. equity markets hit new all-time highs in Q4 2025, with the S&P 500 Index up 2.66% and the Bloomberg U.S. Aggregate Bond Index rising 1.10%. Value stocks outperformed growth stocks, and the U.S. economy showed resilience. Artificial intelligence was a major theme, with over 300 S&P 500 companies mentioning "AI" in earn ...

CHICAGO, Jan. 30, 2026 (GLOBE NEWSWIRE) -- Harrison Street Asset Management (“HSAM”), a leading global alternative investment management firm with more than $108 billion in assets under management, announced today the launch of Harrison Street Infrastructure Active ETF (Ticker: NFRX), the firm’s first ETF and a complement to its variety of closed-end, open-end and specialized vehicles across real asset strategies. The ETF, which started trading on Nasdaq today, is designed to provide investors with exposure ...

Industry Overview - The Zacks Manufacturing - Electronics industry is experiencing stable demand due to the electronic services end market, increased adoption of advanced manufacturing technologies, and product innovation efforts [1] - A surge in e-commerce activities is expected to further support the industry's growth [1] Industry Challenges - A slowdown in the manufacturing sector and supply-chain issues are negatively impacting the performance of some industry participants [2] - The manufacturing sector has contracted for ten consecutive months, with the Manufacturing PMI at 47.9% in December, indicating a contraction in manufacturing activity [6] Industry Trends - Demand across key end markets remains stable despite manufacturing slowdowns, with electronics manufacturers benefiting from the integration of advanced electronic components [4] - Companies are increasingly investing in digitization to enhance operational productivity, product quality, and reduce costs [5] Industry Performance - The Zacks Manufacturing - Electronics industry has underperformed compared to the broader sector and the S&P 500, growing 5.4% over the past year, while the sector rose 10.3% and the S&P 500 increased by 19.4% [10] Current Valuation - The industry is currently trading at a forward 12-month Price-to-Earnings (P/E) ratio of 22.27X, which is above the sector's P/E of 21.68X but below the S&P 500's P/E of 23.38X [13] Notable Companies - **Powell Industries, Inc. (POWL)**: Engaged in manufacturing custom-engineered equipment, benefiting from strong project activity in electric utility and industrial markets, with shares up 55.2% in the past year [18][19] - **Emerson Electric Co. (EMR)**: Offers a range of products and services, experiencing solid momentum in the Final Control business, with shares gaining 18.9% in the past year [22][23] - **Eaton Corporation plc (ETN)**: A diversified power management company benefiting from rising demand in AI-data centers, with shares down 3.7% over the past year but up 5.6% in the past month [26][27] - **EnerSys (ENS)**: Focused on industrial batteries, well-positioned due to strong momentum in aerospace and defense markets, with shares rising 19.2% in the past year [30][31]

Repligen FY Conference Summary Company Overview - **Company**: Repligen (NasdaqGS:RGEN) - **Headquarters**: Waltham, Massachusetts - **Employees**: Approximately 2,000 - **Sales Guidance for 2025**: $733 million at midpoint [2][24] Core Industry Insights - **Industry Focus**: Bioprocessing - **Market Size Growth**: Total addressable market increased from $3 billion to $13 billion over six years, indicating significant growth potential [8] - **Market Share**: Repligen currently holds about 2% of the market, suggesting substantial runway for growth [9] Key Strategic Points - **Innovation**: Central to Repligen's strategy, with a focus on breakthrough solutions to enhance yield and cost structure for customers [3][5] - **Product Portfolio**: Diverse offerings across four main franchises: filtration, chromatography, analytics, and proteins, with approximately 80% of the portfolio having little to no competition [5][6] - **Growth Strategy**: Aiming for 30% EBITDA margin by 2030, with a commitment to outpace market growth by 5 percentage points [25][26] Financial Performance and Projections - **Historical Growth**: CAGR of 18% from 2019 to 2025, excluding COVID-19 impacts [7] - **2026 Growth Expectations**: Targeting 11%-12% top-line growth, factoring in 200 basis points of headwinds from a specific gene therapy drug [34] - **Margin Expansion**: Current EBITDA margin at 19%, with plans to reach 30% by 2030 through operational efficiencies and strategic investments [26][37] Market Dynamics - **Customer Diversification**: Shift from reliance on top customers; top 10 customers now account for one-third of business compared to two-thirds a decade ago [10] - **Geographical Focus**: Currently, only 17% of sales come from Asia, with plans to enhance presence in this region [22] - **New Modalities**: Despite headwinds in 2025, new modalities are expected to rebound and contribute to growth from 2027 onwards [46] Product Development and Innovation - **Recent Launches**: Three significant product launches in 2025, including a new version of the protein concentration tool and single-use mixers [31] - **Upgrade Cycle**: Ongoing upgrade cycle for SoloVPE systems, with only a small percentage of the installed base upgraded so far, indicating future revenue potential [50] - **ATF Systems**: Anticipated growth in ATF systems, with over 50 late-stage and commercial drugs utilizing this technology [52] Competitive Positioning - **Reshoring Opportunities**: Repligen is well-positioned to compete for reshoring-related contracts due to its U.S. manufacturing capabilities and competitive pricing advantages [43] - **Key Account Management**: Focus on deepening relationships with existing key accounts, increasing product offerings per account by 2.5 times over five years [14][56] Future Outlook - **Strategic Investments**: Continued investment in R&D (6%-7% of sales) and infrastructure to support growth and operational efficiency [27][28] - **Market Trends**: Positive outlook on new modalities, particularly in cell therapy and gene therapy, with ongoing product launches to support these areas [47] - **Overall Sentiment**: Management expresses strong optimism for 2026 and beyond, highlighting numerous growth opportunities across various segments [59]

Core Insights - The office products industry is experiencing significant challenges due to the rise of remote work, increased digitization, and changing workplace habits, which are all contributing to a decline in demand for traditional office supplies [1] Industry Summary - Remote work trends are reshaping the demand landscape, leading to a decrease in the consumption of conventional office products [1] - Digitization is further exacerbating the decline, as more businesses adopt digital solutions over physical supplies [1] - Shifting workplace habits indicate a long-term transformation in how companies operate, impacting the overall market for office products [1]

Core Insights - UBS Group's Chief Operations and Technology Officer Mike Dargan has left to become the CEO of German neobank N26, effective April 2024, pending regulatory approval [1][6] - UBS Group CEO Sergio P. Ermotti highlighted Dargan's role in advancing the bank's technology strategy and its shift towards AI and digitization [2] - UBS has appointed Beatriz Martin as the new Chief Operating Officer, with Chris Gelvin serving as interim head of Group Technology [3] Company Developments - The integration of Group Technology into the COO portfolio aims to enhance operational efficiency and prioritize technology initiatives [4] - A Bank of America analyst report upgraded UBS's stock recommendation to "buy" from "neutral," projecting a 30% growth in earnings per share from 2025 to 2028, which led to a 3% increase in share prices [5] Industry Implications - The leadership change signifies a shift in competitive dynamics within the European retail banking sector, emphasizing the importance of digitization and regulatory compliance [7] - N26 is positioned to accelerate its strategic initiatives under Dargan's leadership, leveraging his experience in banking and technology [7]

Core Insights - Parnassus Investments reported that the S&P 500 Index increased by 8.12% in Q3 2025, driven by investor optimism regarding monetary easing, strong consumer demand, and solid corporate earnings [1] - The Parnassus Core Equity Fund (Investor Shares) returned 2.57% in Q3 2025, underperforming the S&P 500 Index, with a year-to-date return of 9.89% compared to the index's 14.83% [1] Company Highlights - W.W. Grainger, Inc. (NYSE:GWW) is highlighted as a key holding in the Parnassus Core Equity Fund, with a one-month return of 9.89% and a 52-week loss of 5.14% [2] - As of December 22, 2025, W.W. Grainger, Inc. shares closed at $1,034.87, with a market capitalization of $49.21 billion [2] - The company reported Q3 2025 sales of $4.7 billion, reflecting a 6.1% increase on a reported basis and a 5.4% increase on a daily constant currency basis [4] Investment Strategy - The Parnassus Core Equity Fund has reallocated assets by trimming IT holdings in Advanced Micro Devices and Broadcom, and investing in W.W. Grainger, Inc. due to its economies of scale, network effects, and strong customer loyalty [3] - The management team of W.W. Grainger, Inc. is noted for its proven track record of outperforming industry peers, positioning the company to benefit from trends such as digitization and nearshoring [3]

Core Insights - National Vision (EYE) has experienced a significant share price increase of 154.6% over the past 12 months, outperforming the industry decline of 13.9% and the S&P 500's growth of 16.4% [1][9] Company Performance - National Vision holds a Zacks Rank 3 (Hold) and is benefiting from the strong performance of its America's Best brand, with strategic initiatives showing early progress [2] - The company operates 1,242 retail stores across four brands and has a distribution network that includes a 118,000-square-foot center in Georgia and a 52,000-square-foot center in Ohio [3] Revenue Growth - The Owned & Host segment of National Vision reported a 9.1% year-over-year revenue increase in Q3 2025, primarily driven by America's Best brand [4][9] - The company opened four new America's Best stores and converted four Eyeglass World locations during the September 2024 to September 2025 period [5] Strategic Initiatives - National Vision is enhancing its Eyeglass World operations with a new leadership team and expanding remote exam capabilities, with two-thirds of its stores now equipped for remote technology [6] - The company is testing smaller store formats for America's Best and is incorporating insights from a fleet optimization review into future growth plans [5][6] Customer Engagement - Early indicators of stronger customer engagement are noted, supported by a new marketing strategy and customer relationship management (CRM) platform [10] - Newly introduced premium frames are selling faster than expected, indicating positive consumer response [10] Financial Estimates - The Zacks Consensus Estimate projects a 32.6% increase in earnings per share (EPS) for 2025, reaching $0.69, and a 26.8% increase for 2026, reaching $0.88 [12] - Revenues are expected to grow by 5.2% to $1.98 billion in 2025 and reach $2.05 billion in 2026, implying a 3.3% increase [12]

Core Viewpoint - XBP Global Holdings, Inc. (NASDAQ:XBP) is highlighted as one of the best SaaS stocks trading at a discount, with significant recent stock performance driven by strategic agreements in Europe [1]. Company Overview - XBP Global Holdings, Inc. is a Texas-based software company that provides payment and technology services to businesses [2]. - The company has recently seen a substantial increase in its stock price, closing 989% higher after gaining $5.20 in a single day of trading [2]. Recent Developments - The stock surge was primarily due to a five-year agreement with the German firm BG-Phoenics, valued at €21.5 million, which involves digitizing 148 million pages for mail processing [2]. - This deal is expected to enhance XBP's presence in the European regulated industry [2]. - Additionally, XBP has engaged in another deal with the Swedish regional public authority, Region Uppsala, to manage administrative and healthcare records, furthering its strategy to target European public sector entities for digitization [3]. - The company has also partnered with the New York City Department of Finance for parking violation payment processing, indicating a diverse approach to expanding its service offerings [3].

Core Insights - Securitize has emerged as a key player in the tokenized asset trade, with co-founder Carlos Domingo leading the company since its inception in 2017 [1] - The firm currently manages approximately $3.6 billion in tokenized real-world assets (RWAs) and anticipates exceeding $4 billion by year-end, with a revenue growth of roughly 10x over the past 18 months [2] - Securitize is preparing for a public listing through a SPAC merger with Cantor Fitzgerald, targeting early next year for the listing [2] Company Performance - 2023 has been described as the best year in Securitize's history, marking a significant inflection point for the company [3] - The company faced challenges in attracting investment and talent during earlier years, often having to raise funding every 18 months [4][5] - Despite the competitive landscape, many early rivals in tokenization have failed, highlighting the importance of survival in the industry [5] Business Model Evolution - Initially, Securitize aimed to operate as a software company, providing a tokenization platform for banks and asset managers to license and use independently [6]