Core Insights - The integration of AI in underwriting is reshaping the mortgage-linked ETF landscape, impacting funds like iShares MBS ETF, Vanguard Mortgage-Backed Securities ETF, and iShares Mortgage Real Estate ETF, which are closely tied to the securitized credit pipeline [1] - The displacement of higher-paying jobs by AI is leading to a reduction in consumer spending power, particularly among borrowers, which could affect mortgage payments and discretionary spending [2] - The economic activity heavily relies on white-collar workers, with the top 10% of earners accounting for over half of consumer spending, raising concerns about the stability of prime mortgages in the face of rapid job displacement [3] Industry Implications - The potential risks from AI-driven job displacement may extend beyond housing stocks, affecting banks, mortgage lenders, and consumer-driven sectors across the economy [4] - The housing market is becoming a critical channel for understanding the relationship between technological disruption and financial stability, as AI continues to influence labor markets [1][3] - The rapid changes in the job market due to AI could lead to significant shifts in consumer behavior and spending patterns, which are essential for the health of the housing market [2][3]

We came across a bullish thesis on MGM Resorts International on The Rational Investor’s Substack by Maxx Waring. In this article, we will summarize the bulls’ thesis on MGM. MGM Resorts International's share was trading at $36.36 as of February 11th. MGM’s trailing and forward P/E were 49.16 and 17.83 respectively according to Yahoo Finance. MGM Grand, Las Vegas david-vives-O7H0w6s9jG0-unsplash MGM Resorts International, through its subsidiaries, operates as a gaming and entertainment company in the Uni ...

Core Thesis - MGM Resorts International presents a compelling investment opportunity driven by multiple near- and long-term catalysts despite a temporary slowdown in Las Vegas tourism and room remodels at MGM Grand in 2025 [1] Share Buybacks and Earnings - MGM is aggressively buying back 7-8% of its shares annually, funded by a business generating a 14.2% Owner Earnings yield [2] - BetMGM, the company's digital sports betting and iGaming joint venture, turned profitable in 2025, distributing $100 million back to MGM and setting the stage for $125-200 million in cash distributions in 2026 [2] Near-Term Catalysts - The Northfield Park sale, closing in the first half of 2026, will inject $420 million of proceeds for share repurchases [3] - Stabilization of Las Vegas Strip operations is expected as MGM Grand's remodels are completed, conventions return, and RevPAR growth resumes [3] - MGM China's ongoing recovery continues to provide $200-300 million in annual dividends, further funding capital returns [3] Long-Term Potential - MGM's 42.5% stake in Osaka represents a future $350-450 million annual Owner Earnings contribution, supported by monopoly positioning and a lower tax rate relative to Macau [4] - GAAP net income is expected to swing from loss to profit in 2026 as one-time charges abate, attracting investor attention [4] Valuation and Target Price - At the current share price, MGM trades at roughly 7x Owner Earnings with significant buyback acceleration underway [5] - With stabilized core operations, growing digital cash flows, and Osaka's long-term potential, MGM Resorts offers an attractive risk/reward profile with a bullish target of Buy up to $46 per share [5] Historical Context - MGM's stock price has appreciated by approximately 38.25% since previous bullish coverage, highlighting its asset-light transition, strong brand, and disciplined buybacks [6]

Key Takeaways CRI beat Q4 estimates with 7.6% sales growth, but shares slid on weak Q1 and 2026 EPS outlook.U.S. Retail, Wholesale and International sales rose, lifted by an extra week adding $37M.2026 EPS seen down low double to mid-teens as tariffs and costs pressure margins.Carter's, Inc. (CRI) reported fourth-quarter 2025 results, wherein the top and bottom lines beat the Zacks Consensus Estimate. While earnings declined from the year-ago quarter’s respective number, sales increased.Carter’s adjusted ea ...

OKURA HOLDINGS(01655)公布截至2025年12月31日止六个月中期业绩，收入上升约5.2%至约33.54亿 日圆，公司股东应占利润上升约4.0%至约5.25亿日圆，基本及摊薄每股盈利约为0.87日圆。 公告称，利润增长主要是由于其他日式弹珠机及日式角子机游戏馆的收益因新日式弹珠机及日式角子机 持续受到欢迎而整体改善所致。集团将继续探索新措施与机遇以提升集团的营运表现，并使收入来源更 多元化。 ...

Golden Entertainment (GDEN) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of $0.11. This compares to earnings of $0.1 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -109.09%. A quarter ago, it was expected that this gaming services provider would post a loss of $0.08 per share when it actually produced a loss of $0.18, delivering a surprise of -125%.Over the last four quarters, the comp ...

2月26日，游戏板块早盘震荡攀升，游戏ETF（159869）现涨近1%，打开低位布局窗口，截至发 稿，盘中成交额已突破6亿元。持仓股中，顺网科技、浙数文化、完美世界、冰川网络、盛天网络等涨 幅居前；神州泰岳、迅游科技、华立科技等跌幅居前。 2月26日，Sensor Tower APAC Awards 2025年度获奖名单公布，腾讯旗下《三角洲行动》荣获"最佳 跨平台FPS（射击类）游戏"。评语指出，2025年该作移动端收入激增29倍，成为全球增长最快射击游 戏；PC与主机端累计售出1830万份，登顶全球PC免费游戏下载榜。《三角洲行动》以惊人的跨平台数 据摘得行业大奖，彰显了腾讯在全球射击游戏市场的领先发行与长线运营能力，为公司贡献了显著的业 绩增量。其"多端齐发、收入互补"的模式，为射击品类乃至整个游戏行业提供了可复制的成功范本。此 举进一步强化了市场对国产游戏全球化能力的认可。游戏方面，春节期间多端流水数据表现健康，行业 高景气延续。展望后续，3月仍有《洛克王国》、EVE等潜在爆款上线，产品催化不断。游戏板块核心 公司估值性价比在成长板块中依然突出。 游戏板块具备AI、内容、商业化模式变革多点催化，游戏E ...

IT之家 2 月 27 日消息，当地时间 2 月 26 日，据外媒 Wccftech 报道，Avalanche Studios 创始人、《正当防卫》系列创作者克里斯托弗 · 桑德伯格正准备推出 新工作室 Liquid Swords 的首款游戏《Samson: A Tyndalston Story》，该游戏将于 2026 年 4 月 8 日发布。 他还表示，网易是工作室的重要投资方之一。网易于 2021 年投资 Liquid Swords，为工作室发展提供了关键支持，使其逐步接近推出首款游戏。 不过，Liquid Swords 仍面临严峻现实。桑德伯格透露，为确保工作室能够继续运营并完成游戏开发，公司不得不裁掉一半员工，以延长资金使用周期。 他说："由于预算有限，我们进行了严格的现金流管理。去年，我们作出艰难决定，裁掉了一半团队，这是为了让我们能够坚持到 2026 年。我们正在押注未 来，并竭尽全力打造一款售价 25 美元（IT之家注：现汇率约合 171.3 元人民币）的高质量游戏，为工作室未来发展奠定基础。我希望玩家能够看到我们的 潜力，并继续支持我们开发更大规模的作品。" Liquid Swords 由桑德 ...

2月15日至23日假期里，世纪华通（002602）凭借全球化的产品布局与精细化的运营能力，旗下多款游戏在马年新 春迎来"开门红"。 | 日榜 | 周榜 月榜 | 明年前后 | | | --- | --- | --- | --- | | ND.1 | | 我的花园世界 休闲:1名 楼拟经营 | | | | | 厦门麟贝互娱科技有限公司 | | | NO. 2 | | 三国:冰河时代 其他:1名 其他 | △ 1 | | | | 欢游互动 (北京)科技有限公司 | | | | | 无尽冬日 竞技:1名 对战 | · 2 | | | | 点点互动 (北京)科技有限公司 | | | NO.4 | | 向僵尸开炮 休闲:2名 益智 | | | | | 海南盛昌网络科技有限公司 | | | NO.5 | | 跃动小子 休闲:3名 益智 | | | | | 波克科技集团有限公司 | | | NO.6 | | 道友来挖宝 角色:1名 回合 | 41 | | | | 深圳雷霆信息技术有限公司 | | | NO.7 | | 生存33天 角色:2名 ARPG | | | | | 广州三七网络科技有限公司 | | | NO.8 | ...

By Miho Uranaka and Sam Nussey TOKYO, Feb 27 (Reuters) - Nintendo announced on Friday an unwinding of strategic shareholdings that ‌will see companies including MUFG Bank and the Bank ‌of Kyoto selling shares in the company behind gaming franchises such as "Super Mario". The ​sale, which was first reported by Reuters, will total about 290 billion yen ($1.9 billion) at Friday's closing price, excluding an overallotment. Kyoto-based Nintendo also said it would spend up to 100 billion yen buying back ‌up ...