PresentationGreat. Thank you, everybody, for coming to this session with BBVA. I'm delighted to welcome one more year, Luisa Gomez Bravo, CFO of the -- of BBVA. Thanks for coming one more year, Luisa.Thank you, Alvaro, for having me.As usual, we're going to start with a polling question to set the scene.Alvaro de TejadaMorgan Stanley, Research Division It's not oil related. What's the primary catalyst of BBVA stock to outperform over the next 12 months? #1, further buybacks on top of the EUR 4 billion annou ...

Some of the weakest areas of the market in 2026 have turned into outperformers since the Iran conflict began, according to Deutsche Bank Research. ...

Core Viewpoint - Interactive Brokers Group, Inc. (IBKR) is a leading global electronic brokerage firm with a market cap of $113.1 billion, known for its low-cost trading infrastructure and extensive market access [1][2] Company Overview - IBKR serves a diverse clientele including active traders, hedge funds, proprietary trading firms, financial advisors, and sophisticated retail investors across over 150 markets globally [1] - The firm is categorized as a large-cap stock, indicating its significant size, stability, and market dominance [2] Stock Performance - IBKR's shares have decreased by 9.9% from their 52-week high of $73.35, while they have increased by 4.3% over the past three months, underperforming the Dow Jones Industrial Average's 5.6% rise during the same period [3] - Over the past year, IBKR has experienced a 46.2% increase and a 49.6% return projected for 2025, significantly outperforming the Dow Jones Industrial Average, which has risen 10.3% over the past 52 weeks and 14.5% year-to-date [4] Recent Developments - On December 9, IBKR expanded its global reach by adding access to UAE equities through the Abu Dhabi Securities Exchange and the Dubai Financial Market, allowing clients to trade UAE-listed stocks alongside global assets [5] - This expansion enhances IBKR's position in the Gulf Cooperation Council by broadening market access and supporting trading in 28 currencies, including AED, while enabling efficient low-cost FX conversions for global investors [5] - Following this announcement, IBKR's shares rose by 1.7% in the next trading session [5] Competitive Position - IBKR has outperformed rival Morgan Stanley, which has gained 41.3% over the past 52 weeks and 43.4% year-to-date [6]

Group 1: Restaurant Stocks Overview - Restaurant stocks face headwinds, but companies like Chipotle Mexican Grill, Wingstop, and Starbucks are expected to outperform and increase stock prices due to unique catalysts [1] - Analyst trends forecast substantial upside for Chipotle, Wingstop, and Starbucks, likely driven by Q3 earnings reports [1] Group 2: Chipotle Mexican Grill - Chipotle's share price has retreated to a multiyear low after weaker-than-expected Q2 results, but analysts believe the sell-off is overdone and have upgraded the stock to Overweight [2][3] - Factors that could offset weakness include accelerated store openings, improved restaurant-level margins, and the CEO's confidence in regaining mid-single-digit comp CAGR [3] - The consensus price target for Chipotle is $60, indicating a 40% upside potential [4] - Long-term growth is supported by an international growth strategy and accelerated openings [5] Group 3: Wingstop - Wingstop's share price faced challenges due to slowing growth, but early-year results exceeded expectations, and plans to accelerate store openings are in place [7] - Revenue growth is expected to sustain or accelerate from Q2 levels, with a bullish sentiment reflected in analyst ratings [8] - Analysts predict a potential stock price range of $400 to $440, which would mark a new all-time high [9] Group 4: Starbucks - Starbucks is undergoing a CEO-led transition expected to yield visible results soon, with an upgrade to Outperform and a price target of $115 [11] - Labor-cost increases are becoming more apparent, while cost-saving opportunities are anticipated to rise [11] - Comp store sales are expected to improve due to the Green Apron Service initiative aimed at enhancing customer satisfaction [12] - Analysts have increased the price target since the Q2 release, forecasting a 10% upside, with a potential high-end target of $165, representing a 75% increase [13]