Core Points - DXC Technology Company announced plans to redeem €650 million of its 1.750% Senior Notes due January 2026 and partially redeem $300 million of its 1.800% Senior Notes due September 2026 [1][2] Group 1: Redemption Details - The redemption notice for the 2026 Euro Notes and 2026 USD Notes will be issued on December 9, 2025, with redemption dates set for December 24, 2025, and December 19, 2025, respectively [2] - The redemption price for the 2026 Euro Notes will be 100% of the principal amount plus accrued and unpaid interest up to the redemption date, after which the notes will no longer be outstanding [3] - The redemption price for the 2026 USD Notes will also be 100% of the principal amount, plus a make-whole premium and accrued interest, with interest ceasing to accrue after the redemption date unless DXC defaults [4] Group 2: Company Overview - DXC Technology is a leading global provider of information technology services, partnering with innovative organizations to build solutions that advance industries and companies [6] - The company focuses on simplifying, optimizing, and modernizing systems and processes, integrating AI-powered intelligence, and prioritizing security and trust in its operations [6]

Core Insights - Advent International has acquired a significant stake in NIQ Global Intelligence plc, amounting to 149,380,246 shares valued at approximately $2.35 billion, indicating a strong belief in the company's potential despite its current stock price being below its IPO level [1][2][9] Company Overview - NIQ Global Intelligence plc operates in the technology sector with over 38,000 employees globally, utilizing advanced analytics and artificial intelligence to provide consumer insights [5][8] - The company reported trailing twelve months (TTM) revenue of $4.01 billion and a net loss of $434.36 million as of September 30, 2025 [3][4] Financial Metrics - As of November 15, 2025, NIQ's stock price was $14.18, which is 30.46% below its 52-week high [3] - The company's market capitalization stands at $4.51 billion, with a forward P/E ratio of 23.06 and an enterprise value to EBITDA ratio of 15.37 [4][3] Investment Implications - Advent's investment represents 47.23% of its reportable U.S. equity holdings, making NIQ its largest holding [3][6] - The concentration of investment in NIQ suggests that Advent believes there is significant value that the market has yet to recognize [9] Market Position - NIQ plays a crucial role in providing measurement systems for global brands to understand consumer purchasing behavior, which is essential for strategic decision-making [10][11] - The company faces challenges related to leverage and integration costs, which may impact its financial stability, but it remains a vital intelligence resource for consumer companies [11]

Core Insights - IBM is a mega-cap stock with a market capitalization of $284.6 billion, providing a wide range of integrated solutions and services in the IT sector [1][2] - The company has shown strong performance in the stock market, with a 37.9% year-to-date increase and a 32.5% rise over the past 52 weeks, significantly outperforming the Dow Jones Industrials Average [4] Financial Performance - In Q3, IBM reported an adjusted EPS of $2.65, exceeding Wall Street's expectations of $2.44, and revenue of $16.3 billion, surpassing the forecast of $16.1 billion [6] - Over the past three months, IBM stock gained 25%, while the Dow Jones Industrials Average only gained 4.4% during the same period [3] Market Position and Trends - IBM's advancements in quantum computing, particularly the 120-qubit Quantum Nighthawk processor, are expected to drive future growth, aiming for quantum advantage by 2026 and fault-tolerant computing by 2029 [5] - The demand for AI and automation solutions is contributing to IBM's growth, with software annual recurring revenue (ARR) increasing by 12.2%, and the AI business exceeding $9.5 billion [5] Stock Performance - Despite a recent slip of 6.7% from its 52-week high of $324.90, IBM has been trading above its 200-day moving average for the past year, indicating a bullish trend [3][4] - The stock has also been above its 50-day moving average since mid-September, further confirming its positive momentum [4]

Core Viewpoint - Liansheng Technology (300051.SZ) announced the completion of the sale of 100% equity in Xiamen Sanwu Huli Information Co., Ltd. by December 2024, indicating a strategic shift away from information technology services [1] Group 1 - The company will no longer engage in information technology service-related businesses following the sale [1] - In accordance with regulations from the Ministry of Industry and Information Technology, the company plans to cancel certain types of value-added telecommunications business licenses, including internet data center services and internet access services [1] - This matter will require approval at the company's seventh extraordinary general meeting of shareholders in 2025 [1]

Core Viewpoint - Growth stocks are appealing due to their potential for above-average financial growth, but identifying those that can fulfill their potential is challenging [1] Group 1: Company Overview - Epam (EPAM) is currently highlighted as a recommended growth stock based on the Zacks Growth Style Score, which evaluates a company's growth prospects beyond traditional metrics [2] - The company has a favorable Growth Score and a top Zacks Rank, indicating strong potential for performance [2] Group 2: Earnings Growth - Historical EPS growth for Epam stands at 6.5%, but projected EPS growth is significantly higher at 28.2% for the current year, surpassing the industry average of 24% [4] Group 3: Asset Utilization - Epam's asset utilization ratio is 1.11, meaning it generates $1.11 in sales for every dollar of assets, which is more efficient than the industry average of 0.93 [5] Group 4: Sales Growth - The company's sales are expected to grow by 14.9% this year, compared to the industry average of 5.3%, indicating strong sales growth potential [6] Group 5: Earnings Estimate Revisions - The current-year earnings estimates for Epam have been revised upward, with the Zacks Consensus Estimate increasing by 3.6% over the past month, suggesting positive momentum [8] Group 6: Investment Positioning - Epam has achieved a Growth Score of B and a Zacks Rank of 2 due to positive earnings estimate revisions, positioning it well for potential outperformance in the growth stock category [10]

Core Insights - EPAM Systems, Inc. has been awarded the Innovate with Azure AI Platform 2025 Microsoft Partner of the Year Award for its leadership in developing AI solutions on Azure [1][2][4] - The award recognizes EPAM's innovation in creating AI solutions that demonstrate significant impact through specific customer use cases, particularly in collaboration with Albert Heijn [3][4] Company Achievements - EPAM's winning project involved the development of a scalable GenAI platform for Albert Heijn, enhancing operational efficiency through an AI-powered virtual assistant [4][5] - The company has also been recognized as a finalist in three other competitive categories, showcasing its broad capabilities in AI and digital transformation [5][6] Partnership with Microsoft - EPAM's status as a Microsoft Global Systems Integrator (GSI) reflects its deepening collaboration with Microsoft and commitment to delivering innovative solutions [7][8] - The partnership enables EPAM to leverage Microsoft's Cloud and AI platforms to drive transformative outcomes for clients [8] Industry Impact - EPAM integrates advanced AI technologies into tailored business strategies, enhancing clients' competitive edge and driving significant industry impact [9] - The company has been recognized for its engineering excellence and cloud expertise, underscoring its role in enterprise-scale transformation across various industries [7][11]

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Globant despite higher revenues, with a focus on how actual results will compare to estimates [1][2]. Earnings Expectations - Globant is expected to report quarterly earnings of $1.54 per share, reflecting a year-over-year decrease of 5.5% [3]. - Revenue projections stand at $615.25 million, indicating a slight increase of 0.1% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 0.74% over the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Globant is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +0.13% [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive reading indicates a likely earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [10]. - Globant currently holds a Zacks Rank of 3, suggesting a potential to beat the consensus EPS estimate [12]. Historical Performance - In the last reported quarter, Globant exceeded the expected earnings of $1.52 per share by delivering $1.53, resulting in a surprise of +0.66% [13]. - Over the past four quarters, Globant has beaten consensus EPS estimates twice [14]. Conclusion - While Globant is positioned as a strong candidate for an earnings beat, other factors may also influence stock movement post-earnings release [15][17].

Core Insights - Data center and related technology investments are a major driver of U.S. economic growth, accounting for 80% of the increase in final private domestic demand in the first half of 2025 [1][4][5] - The shift in technology company investments is moving towards a capital expenditure model similar to traditional manufacturing, indicating a significant change in investment strategies [2][5] Investment Trends - The U.S. leads in data center capacity, representing over 40% of the global total, with expectations for this share to increase [5] - Investments in data centers encompass various areas including construction, information processing equipment, software, and research and development [4][5] Economic Impact - Despite challenges such as higher borrowing costs and policy uncertainty, business investments related to AI are surging, counterbalancing weaknesses in other sectors of the economy [5] - Preliminary research indicates early productivity gains amid shifts in the labor market, suggesting a positive outlook for future economic performance [4] Future Outlook - The ongoing AI revolution and data center investments are anticipated to yield larger macroeconomic benefits in the future, although the distribution of these benefits may not be uniform across different sectors [5] - S&P Global's upcoming research journal will provide a comprehensive analysis of AI-driven data center growth, covering sector economics, energy resources, financing, and technological advancements [2]

Core Thesis - The bullish thesis on Coursera, Inc. emphasizes the company's strong financial stabilization, leadership changes, and focus on AI-driven learning products, indicating a positive outlook for growth and profitability [1][2][3]. Leadership Changes - CFO Ken Hahn will step down on October 29, transitioning to a 12-month advisory role, which follows a period of strong financial performance, including record free cash flow in H1'25 [2]. - The transition in CFO complements CEO Greg Hart's recent appointment, marking a broader leadership refresh as the company adapts its operating model for future growth [3]. Financial Performance - Coursera is experiencing stabilizing revenue growth near high single digits, gross margins above 55%, and positive operating cash flow, indicating a healthier business environment for the incoming CFO [4]. - The company has reaffirmed its Q3 and full-year 2025 guidance, reflecting confidence in its near-term momentum [3]. Strategic Focus - Key priorities for the new CFO include sustaining margin expansion, refining customer lifetime value models, managing content partner economics, and supporting AI-driven innovation without eroding free cash flow [4]. - The board has identified Kelly Steckelberg as a strategically aligned candidate for the CFO role, whose experience at Zoom and Canva positions her well to support the company's AI-driven learning ecosystem [5]. Market Position - Coursera's stock price has appreciated approximately 29.75% since previous bullish coverage, highlighting the company's high-margin platform, rapid user growth, and strong cash position [6].

Core Viewpoint - EPAM Systems, Inc. has authorized a new stock repurchase program of up to $1 billion to enhance shareholder value and reflect confidence in future growth [1][4]. Company Overview - EPAM Systems, Inc. is a leading digital transformation services and product engineering company, recognized for its core engineering expertise and AI-native market position [3][4]. - The company has been operational since 1993, focusing on digital engineering, cloud, and AI-enabled transformation services [4][7]. Stock Repurchase Program - The stock repurchase program will allow EPAM to buy back shares through various means, including open market purchases and privately negotiated transactions, over a term of 24 months [2]. - The total amount and timing of repurchases will depend on market conditions and other corporate considerations [2]. Financial Performance - The company has shown three consecutive quarters of improving year-over-year organic constant currency revenue growth, indicating strong underlying business strength [4]. - EPAM maintains efficient free cash flow generation and a strong balance sheet, enabling it to return cash to shareholders while investing in business growth [4]. Strategic Focus - EPAM is executing a disciplined, multi-year strategy that includes client-centric investments and innovative go-to-market solutions [3]. - The company leverages AI and GenAI technologies to enhance digital innovation and competitive advantage for its clients [5][6]. Industry Recognition - EPAM was added to the S&P 500 and Forbes Global 2000 in 2021 and has received accolades as a "Most Loved Workplace" by Glassdoor and Newsweek [7]. - The company is recognized as a leader in various IDC MarketScapes for its services in experience build, design, and software engineering [7].