Core Insights - AppLovin's stock experienced an 85% increase from early May 2025 to late January 2026, driven by rising revenue, improved margins, and a slight increase in the P/E ratio [2][3] Financial Performance - Revenue rose by 30%, while net margin increased by 37%, contributing significantly to the stock's performance [3] - The P/E multiple saw a slight uptick of 3.1%, indicating a positive market sentiment towards the stock [3] Strategic Actions - AppLovin completed a strategic divestiture by selling its Apps business to Tripledot Studios for $400 million in cash and equity on June 30, 2025 [8] - The company approved an increase in share repurchase authorization by $3.2 billion and executed buybacks in Q3 2025 [8] Market Reactions - Numerous analysts upgraded their ratings and raised price targets for AppLovin's stock towards the end of 2025 and January 2026, reflecting positive market sentiment [8] - A report in January 2026 accused AppLovin of money laundering, leading to a stock decline, which the company refuted [8]

Core Insights - Coty Inc. has been downgraded by Santander to a Neutral rating, with the stock price currently at $3.14, amidst significant strategic changes within the company [1] - The company has sold its remaining 25.8% stake in Wella to KKR & Co. Inc. for $750 million in cash, which is part of its strategy to concentrate on core beauty and fragrance businesses [2][5] - The sale is expected to enhance Coty's financial flexibility and reduce its net leverage to approximately three times by the end of 2025 [3][5] - Following the announcement of the Wella stake sale, Coty's stock saw an increase, indicating a positive market reaction despite the downgrade [4] Financial Position - The sale of the Wella stake is anticipated to provide Coty with the ability to reduce both short- and long-term debt [2] - Coty's market capitalization is approximately $2.74 billion, with a trading volume of 7,709,091 shares on the NYSE [4]

Core Viewpoint - Mammoth Energy Services Inc. announced a $30 million asset sale, leading to a 7.65% increase in its stock price during after-hours trading, reaching $1.9 [1]. Group 1: Asset Sale Details - The company completed the sale of all equity interests in its Aquawolf LLC subsidiary to Qualus LLC for $30 million [2]. - Mammoth Energy Partners LLC received $23.5 million in cash at closing, with an additional $2.5 million placed in escrow for at least 90 days for post-closing adjustments and indemnified liabilities through December 2026 [2]. Group 2: Financial Performance of Subsidiary - The Aquawolf subsidiary recorded $12.0 million in revenue and $1.3 million in net income through September [3]. Group 3: Management Insights - CFO Mark Layton highlighted the strategic importance of the transaction, noting that the Engineering business, which started in 2018, generated $17.3 million in revenue for 2024 [4]. - Layton expressed that the sale reinforces the belief that the underlying value of Mammoth is significantly disconnected from the current share price [4]. Group 4: Banking and Financial Position - Fifth Third Bank consented to the transaction and released associated collateral, with the company's borrowing base remaining unchanged [5]. Group 5: Stock Performance Overview - TUSK shares are down 40.77% year to date, with a market capitalization of $85.06 million and a 52-week trading range of $1.68 to $3.52 [6]. - Benzinga Edge Stock Rankings indicate a negative price trend for TUSK stock across all time frames [6].

Core Insights - The transaction enhances Evolent's focus on specialty condition management and accelerates its deleveraging path [1] - Proceeds from the transaction will be used to prepay senior term debt, which is expected to be immediately accretive to Evolent's free cash flow by more than $7 million per year [1]

Financial Data and Key Metrics Changes - Q1 2025 was described as a solid start to the year with reaffirmed full-year 2025 adjusted EBITDA guidance across all of IAC [6][18] - The company repurchased 4,500,000 shares and increased share repurchase authorization by 10,000,000 shares [6][12] - DDM (Dotdash Meredith) grew digital revenues by 7% in Q1 and increased EBITDA by 46%, excluding a one-time lease gain [8][10] Business Line Data and Key Metrics Changes - DDM's digital advertising revenue was up 1% in Q1, with premium demand remaining stable despite a decline in core traffic [35][40] - Licensing revenue led growth with a 30% increase, aided by the OpenAI license and strong performance at Apple News [36] - Performance marketing also showed strong growth at 11% [36] Market Data and Key Metrics Changes - The macroeconomic outlook remains uncertain, with consumer spending through DDM's performance marketing being solid despite weak consumer confidence [15][18] - Programmatic pricing has softened, running flat year over year after previously increasing [17][18] - The advertising base showed strength in pharma, tech, and beauty, offsetting weaknesses in food and beverage [17] Company Strategy and Development Direction - The company is focused on executing growth across its businesses and capital allocation, including share buybacks and M&A opportunities [11][12] - The strategy includes pursuing strategic divestitures of smaller holdings to free up capital [13] - The company aims to create equity value and reduce the discount between share price and intrinsic value [10][12] Management's Comments on Operating Environment and Future Outlook - Management is carefully monitoring the macroeconomic environment for signs of stability or weakness among consumers and brands [18] - The company is optimistic about future growth, particularly in 2026, with several key projects underway [22][26] - Management acknowledged the challenges in the advertising market but emphasized the strength of their brands and execution capabilities [40][41] Other Important Information - The company reached an agreement to settle litigation related to the match separation with minimal additional costs [10] - The appointment of Jim Lawson as President of Decipher was highlighted as a strategic move to enhance the product's market presence [48][50] Q&A Session Summary Question: Key priorities for 2026 TDM revenue growth and capital allocation - Management discussed ongoing projects like the People app and MyRecipes, emphasizing their focus on meeting younger audiences [22][24] - Capital allocation will balance between share repurchases and M&A opportunities, with a cautious optimism for new investments [27][28] Question: Q1 trends in DDM Digital revenue - Management noted that Q1 faced tough comparisons and a decline in core traffic, but licensing and performance marketing showed strong growth [34][36] Question: Impact of Google’s AI transition and programmatic softness - Management indicated that the impact of Google's AI changes is not significant yet, and programmatic pricing has stabilized after a period of growth [114][116] Question: Appointment of Jim Lawson and Decipher's strategy - The appointment was seen as a strategic advantage to enhance Decipher's market presence and execution capabilities [48][50] Question: AI opportunities across the IAC portfolio - Management highlighted ongoing AI applications in various segments, particularly in improving customer service and marketing efficiency [83][85]

Core Insights - Newmont Corporation has completed the sale of its Akyem operation in Ghana and Porcupine operation in Canada, marking the end of its strategic divestiture program initiated in February 2024 [1] - The total gross proceeds from these divestitures are expected to reach up to $4.3 billion, with $3.8 billion from non-core asset sales and $527 million from other investments [2] - Following the sale of the Porcupine operation, Newmont acquired approximately 15% of Discovery Silver Corp's common shares, totaling 119,716,667 shares [3] - Newmont plans to periodically review its investment in Discovery and may adjust its holdings based on market conditions and other factors [4] - Newmont's shares have increased by 45.1% over the past year, compared to a 53.3% rise in the industry [6]