30 December 2025 US Equity Strategy Citi Research Where Macro Meets Micro – 2026 Outlook: A Persistent But Volatile Bull Scott Chronert AC Managing Director, US Equity Strategist Scott.t.chronert@citi.com +1 (415) 951-1771 Drew Pettit Director Drew.pettit@citi.com +1 (415) 951-1621 Patrick Galvin, CFA Vice President patrick.galvin@citi.com +1 212-816-5373 See AppendixA-1 for AnalystCertification, Important Disclosures and ResearchAnalystAffiliations Citi Research is a division of Citigroup Global Markets In ...

Meta Platforms, Inc. - Meta Platforms, Inc. is recommended for purchase as it is down nearly 20% from its high [1] - The company reported third-quarter earnings and expects fourth-quarter revenue between $56 billion and $59 billion, which is below the analyst estimate of $57.21 billion [1] - Meta has increased its FY25 capital expenditure guidance [1] S&P Global Inc. - S&P Global reported stronger-than-expected third-quarter results with adjusted earnings of $4.73 per share, exceeding analysts' expectations of $4.41, marking a 21.6% increase from the previous year [2] IDEXX Laboratories, Inc. - IDEXX Laboratories has broken above its 2021 high, reporting double-digit revenue growth [3] - The company reported third-quarter adjusted earnings of $3.22 per share, up 15% year over year, beating the consensus of $3.13 [3] - IDEXX's sales reached $1.105 billion, surpassing the consensus of $1.073 billion, reflecting a 13% increase overall and 12% on an organic basis [4]