Core Insights - The Hackett Group, Inc. released its 2025 European SG&A Cost Study and Scorecard, indicating a 6% increase in median SG&A costs among Europe's 1,000 largest public companies, reaching 11.5% of revenue, the highest level since 2020 [1] SG&A Cost Trends - Median SG&A costs rose for the second consecutive year, highlighting a growing trend in operational expenses among major European firms [1] - 63% of the companies surveyed reported an increase in SG&A costs, reflecting widespread challenges in managing administrative expenses [1]

Core Insights - Carillon Tower Advisers released its third-quarter 2025 investor letter for the Carillon Eagle Growth & Income Fund, highlighting the S&P 500 Index's year-to-date return of 13.7% and emphasizing the reliance on AI deployment as a key market driver [1] Company Performance - Accenture plc (NYSE:ACN) was highlighted as a significant stock in the fund's portfolio, with a one-month return of 1.19% and a 52-week loss of 34.48%, closing at $242.56 per share with a market capitalization of $150.421 billion on November 11, 2025 [2] - Concerns regarding Accenture's decelerating revenue growth due to government contract cancellations and reduced discretionary IT spending were noted, although fiscal fourth-quarter results indicated that these fears may have been exaggerated [3] Financial Metrics - Accenture reported revenues of $17.6 billion for the fiscal fourth quarter of 2025, marking a 7% increase in U.S. dollars and 4.5% in local currency [4] - The number of hedge funds holding Accenture shares decreased from 69 to 65 in the second quarter of 2025, indicating a slight decline in popularity among institutional investors [4]

Core Insights - BTS Group AB has corrected its outlook for the full year 2025, indicating that group earnings are expected to be significantly worse than the previous year, which contrasts with the earlier report that suggested only a slight decline in earnings [2] - The group's revenue is not expected to be significantly worse for the full year, correcting a previous misstatement regarding revenue expectations [2] Company Overview - BTS Group AB is a global consultancy based in Stockholm, Sweden, specializing in strategy execution, change management, and people development, with approximately 1,200 professionals across 37 offices worldwide [3] - The company competes in talent and HR consulting as well as traditional consulting markets, addressing a wide range of client challenges including leadership development, talent selection, strategy creation, and culture change [3] - BTS has been focused on the people-side of change for over 35 years, utilizing proprietary methodologies for simulation, learning, coaching, and assessment [3] Stock Information - BTS Group AB is publicly traded on the Nasdaq Stockholm exchange under the symbol BTS B [4]

Core Insights - The company is focusing on a long-term business strengthening strategy, with operational improvements noted but a revenue decline expected in BTS North America for Q4 2025, alongside ongoing currency challenges [3][4] - Full year 2025 revenue and earnings are anticipated to be significantly lower than in 2024 [3] Financial Performance - For Q3 2025, net sales were MSEK 626, a decrease of 4.7% from MSEK 657 in Q3 2024, with a currency-adjusted growth of 3% [4][5] - EBITA for Q3 2025 decreased by 25% to MSEK 45, with an EBITA margin of 7.2%, down from 9.2% in Q3 2024 [4][5] - Profit after tax for Q3 2025 was MSEK 12, a significant drop from MSEK 190 in Q3 2024, with earnings per share at SEK 0.69 compared to SEK 9.78 in the previous year [4][5] Year-to-Date Performance - For the first nine months of 2025, net sales totaled MSEK 1,993, a slight decrease from MSEK 2,006 in the same period of 2024, with a currency-adjusted growth of 4% [4][5] - EBITA for the first nine months of 2025 was MSEK 188, down 18% from MSEK 229 in 2024, with an EBITA margin of 9.5% [4][5] - Profit after tax for the first nine months of 2025 was MSEK 77, down from MSEK 303 in 2024, with earnings per share at SEK 4.05 compared to SEK 15.64 in the previous year [4][5] Operational Metrics - The company reported a net debt of MSEK 62 as of September 2025, compared to net cash of MSEK 128 in the previous year [4] - The number of employees at the end of September 2025 was 1,162, consistent with the previous year [4]

Core Viewpoint - Big Bear AI has shown strong growth despite a recent stock pullback of approximately 25% over the last 30 days, with a mixed performance in its AI offerings and the acquisition of a generative AI company [3][4]. Financial Performance - Big Bear AI reported an EPS loss of 3 cents, which was better than the expected loss of 4 cents [4]. - The company generated $33 million in sales, reflecting a 20% decline compared to the previous year [5]. - Revenue guidance for the fiscal year has been widened to a range of $125 million to $140 million, with a midpoint estimate of approximately $137 million, indicating a slight increase of $500,000 from previous estimates [6]. Market Position and Competition - Big Bear AI is positioned as a competitor to Palantir, focusing on predictive analytics and decision analysis primarily for U.S. defense and intelligence markets [4]. - The company is also involved in domestic security applications of AI, such as threat detection in public events [6]. - Traditional consulting firms like Accenture and Deloitte may be both competitors and customers of Big Bear AI, as they face challenges from AI companies while also seeking to integrate AI into their services [8][9]. Industry Trends - The market for AI and predictive analytics is growing, with increasing competition among consulting firms and AI companies [10]. - Despite the growth potential, there are concerns regarding the valuation of companies like Big Bear AI, especially given its significant losses totaling around $400 million over the trailing four quarters [11].

Core Insights - The Hackett Group, Inc. announced the results of its 2025 European Working Capital Survey, indicating a decline in working capital efficiency in 2024 [1] - The cash conversion cycle (CCC) worsened by 3%, highlighting a significant deterioration in the region's financial metrics [1] - The analysis focused on the 1,000 largest European-headquartered nonfinancial companies, revealing that the decline was primarily driven by an increase in days [1]

Core Insights - FTI Consulting has enhanced its Tax Advisory team in the EMEA region by adding two senior experts, Marcus Rea and Thomas Lassey [1][3] Group 1: New Appointments - Marcus Rea joins as Senior Managing Director with over 25 years of experience in tax aspects of complex restructurings and financial transactions [2][4] - Thomas Lassey has been appointed as Managing Director, bringing 13 years of experience in indirect and direct tax compliance and advisory [2][5] Group 2: Expertise and Roles - Mr. Rea's expertise includes lending reviews, distressed M&A, and strategic capital decisions for underperforming businesses, and he will lead the expansion of the pan-European restructuring tax advisory team [3][4] - Mr. Lassey will lead the VAT service offering for family groups, multinational organizations, and sovereign wealth funds in Abu Dhabi [5][6] Group 3: Company Strategy and Vision - The addition of Rea and Lassey is aimed at enhancing FTI Consulting's ability to support clients on tax implications of corporate and transactional matters in a challenging market [3][6] - The company emphasizes the importance of high-quality tax advisory expertise as a vital part of its corporate finance offering [6] Group 4: Company Overview - FTI Consulting is a leading global expert firm with over 8,100 employees in 32 countries, generating $3.70 billion in revenues during fiscal year 2024 [7]

Core Insights - Small-cap stocks present lucrative investment opportunities due to frequent mispricings resulting from limited analyst coverage [1] - The article highlights one small-cap stock to watch and two that are recommended for sale [2] Group 1: Stocks to Sell - G-III (GIII) has a market cap of $1.16 billion and is a fashion and apparel conglomerate with declining annual revenue of 1.2% over the last two years, indicating market positioning issues [3][4] - Korn Ferry (KFY) has a market cap of $3.40 billion and serves major clients including 97% of the S&P 100, but trades at a forward P/E of 12.4x, suggesting potential overvaluation [5][7] Group 2: Stock to Watch - Origin Bancorp (OBK) has a market cap of $1.09 billion and provides personalized banking services across Texas, Louisiana, and Mississippi [8] - OBK has shown impressive annual net interest income growth of 11.8% over the last five years, indicating market share gains [11] - Forecasts suggest operating profits for OBK will increase as it scales, with earnings per share having grown by 19.7% annually, outpacing revenue growth [11]

Labor Market Overview - LinkedIn's jobs report indicates a 6% year-over-year decrease in hiring for October [1] - The hiring rate on LinkedIn is down more than 24% compared to pre-pandemic levels [1][3] - The job market shows stability with hiring and quits remaining consistent with September figures [2][3] - The number of available jobs relative to job seekers on LinkedIn has remained relatively stable [3] Impact on Graduates - College graduates with bachelor's degrees in entry-level roles are performing in line with the overall labor market [5] - Individuals with advanced degrees (MBAs, JDs) are experiencing worse job market outcomes [5] Industry Specific Slowdowns - Industries such as technology, media, legal, accounting, consulting, and financial services have experienced the most significant slowdowns due to rising interest rates [6] - These industries have been disproportionately affected by the labor market slowdown [6]

Core Insights - Charles River Associates (CRA) has strengthened its Forensic Services Practice by appointing David Shin as Vice President, bringing over 20 years of experience in high-stakes investigations related to cyber breaches and regulatory inquiries [2][4]. Company Overview - CRA is a global leader in economic, financial, and management consulting services, advising clients on litigation and regulatory matters, and guiding corporations through critical business strategy issues [5]. - The firm has been operational since 1965 and is headquartered in Boston, with offices worldwide [5]. Forensic Services Practice - CRA's Forensic Services Practice is recognized for handling thousands of client matters annually, focusing on areas such as cybercrime, digital forensics, forensic accounting, and eDiscovery [4]. - The addition of David Shin is expected to enhance the practice's capabilities, particularly in e-Discovery and digital technologies, which are crucial for complex litigation and merger reviews [2][4].