Core Viewpoint - Evercore ISI has lowered its price target for BJ's Wholesale Club Holdings to $85 from $100, maintaining an In Line rating due to near-term margin pressures and slowing comparable-store sales [1] Financial Estimates - FY2025 EPS estimate has been cut to $4.25 and FY2026 EPS to $4.65, with expectations of modest price and wage investments to support market share and inventory turnover [2] - Q3 comparable sales growth is forecasted to be below 2%, compared to Street estimates of 2.5%, with EPS expected at $1.07, slightly below the consensus of $1.10 [3] Margin and Profitability - A 60-basis-point decline in gross margin is modeled as BJ's invests in pricing to strengthen member loyalty, while fuel mix and penny profit pressures weigh on profitability [3] - EBIT margin is forecasted at 4%, down 60 bps year over year, with EBIT expected to be $210 million, representing a 9% decline compared to the prior year [3] Future Guidance - Management is likely to guide for a 1–2% comparable sales growth in the fourth quarter, implying EPS of $0.88–$0.92 versus Street estimates of $0.94 [4] Executive Changes - Recent executive changes, including the departure of Chief Merchant Rachel Vegas to Walgreens, may indicate challenges in BJ's merchandising strategy [5] - Despite improvements in general merchandise offerings, comparable sales in the 2–3% range suggest market share softness relative to expectations for steady 3–4% growth and operating margin expansion [5]

Core Viewpoint - Erste Group downgraded Advanced Micro Devices (AMD) from Buy to Hold, resulting in a 2% decline in shares during Thursday's session [1] Group 1: Company Performance - AMD is expected to see growth in 2025 due to increasing demand for high-performance CPUs and GPUs in data centers [1] - Operating margins for AMD remain below sector averages, with EBIT margin reported as slightly negative in the most recent quarter [1] - AMD's return on equity is weaker than its peers, leading to a perception that the current valuation is elevated [1]

Core Viewpoint - Trian Fund Management commends Solventum Corporation for the sale of its Purification & Filtration business to Thermo Fisher Scientific, viewing it as a significant step in the company's value creation journey [1][2] Group 1: Sale Details - Solventum's Purification & Filtration business was sold to Thermo Fisher Scientific, with Trian noting the high valuation multiple attracted by the division's differentiated technology and material science [1] - Thermo Fisher anticipates that the acquisition will be accretive by $0.28, indicating strong cost synergies from replacing Solventum's allocated segment costs with lower costs within Thermo Fisher [2] Group 2: Financial Performance and Growth Potential - Trian highlighted that Solventum has the opportunity to right-size costs and achieve higher margins while reinvesting in growth [3] - Historically, while part of 3M, Solventum achieved 3-4% organic growth and a 26-27% EBIT margin, and Trian believes that as a standalone company, Solventum can deliver faster organic growth and higher margins [4]