Core Viewpoint - Volvo Group reported weaker fourth-quarter and full-year 2025 results due to tariffs and softer regional demand impacting performance [1][3] Financial Performance - Fourth-quarter net sales decreased by 11% to Skr123.8 billion ($14.07 billion), with revenue remaining flat year-on-year when excluding currency effects and the SDLG divestment [1] - Income for the fourth quarter was Skr9.61 billion, down from Skr10.81 billion in the same period last year [1] - For 2025, net sales declined to Skr479.2 billion, and annual income was reported at Skr34.70 billion, a decrease from Skr50.57 billion the previous year [3] Operating Income and Profitability - Currency shifts reduced operating income by Skr2.1 billion, while both adjusted and reported operating profit reached Skr12.8 billion, resulting in a margin of 10.3% [2] - Adjusted operating income fell to Skr51.2 billion, and reported profit decreased to Skr48.5 billion, with margins narrowing to just over 10% [3] - Earnings per share dropped to Skr4.73 for Q4 and Skr16.94 for the full year [2][3] Cash Flow and Dividends - Operating cash flow in industrial operations dropped to Skr19.3 billion for Q4 and halved to Skr21.8 billion for the full year [2][3] - The board proposed a total dividend of Skr13 per share, consisting of an ordinary dividend of Skr8.50 and an extra dividend of Skr4.50 [4][5] Regional Performance - Regional performance in Q4 was mixed, with Europe seeing a 1% increase, while North America, South America, and Asia experienced sharp declines [4] - Vehicle and service sales both declined, and truck orders and deliveries weakened year-on-year [4] Future Outlook - Volvo anticipates negative currency effects of about Skr2 billion on first-quarter 2026 operating income, alongside a full-year research and development impact that is net positive but weaker than in 2025 [5]

Volkswagen’s commercial vehicle arm Traton and PlusAI plan to expand their partnership to speed factory integration and deployment of autonomous trucks across the US and Europe. Under the proposed expansion, Traton would provide up to $25m in non-dilutive research and development funding aimed at integrating autonomous driving software developer’s SuperDrive system directly into factory production lines. The work would span vehicles built by Scania, MAN and International. Alongside PlusAI’s planned pub ...

Core Viewpoint - Volvo Group reported a smaller than expected decline in fourth-quarter operating profit and proposed a below-forecast total dividend of 13 Swedish crowns per share [1] Financial Performance - The decline in fourth-quarter operating profit was less than anticipated, indicating a potentially stronger performance than market expectations [1] Dividend Proposal - The proposed total dividend of 13 Swedish crowns per share is below market forecasts, which may affect investor sentiment [1]

Shares of semi-truck manufacturer Paccar (NASDAQ: PCAR) stock slipped 1.9% through 2:50 p.m. ET Tuesday despite delivering an earnings beat this morning. Analysts forecast Paccar to earn $1.05 per share on sales of $6.1 billion in Q4 2025, but the company actually earned $1.06 per share on sales of $6.8 billion. So why aren't investors impressed? Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the ...

Management highlighted that the Section 232 truck tariff policy, effective November 1, provided advantages for PACCAR given its “local for local” manufacturing footprint across the U.S., Canada, and Mexico. Feight also said it was confirmed late in 2025 that the 35-milligram EPA 2027 NOx limit will go into effect in January of next year, which he said helps customers finalize buying plans.Feight characterized 2025 as a “dynamic year” for the North American truck market, citing soft freight conditions, tarif ...

City Harvest Photo City Harvest will utilize their zero-tailpipe emission Volvo VNR Electric trucks to pick up excess food that would otherwise go to waste from grocers, farms, manufacturers, and restaurants and deliver it to food pantries, soup kitchens, and their own Mobile Markets®. Volvo VNR Electric Truck Photo Volvo Trucks North America will deliver three zero-tailpipe-emission Volvo VNR Electric trucks in 2026 to City Harvest, New York City’s largest food rescue organization, as part of the Br ...

Core Insights - Traton Group reported a net cash flow of 1.643 billion euros ($1.92 billion) for 2025, which is a decline from the previous year but exceeds analyst consensus estimates of 1.011 billion euros [1] Financial Performance - The reported net cash flow of 1.643 billion euros represents a decrease compared to the prior year [1] - The performance surpassed analyst expectations, indicating stronger than anticipated financial health [1]

Group 1 - PlusAI is launching Southern Europe's first program to test heavy-duty autonomous trucks in partnership with Iveco Group brand IVECO, focusing on a 300-km freight route between Madrid and Zaragoza, with tests starting in 2026 [1][2] - The trials will be conducted in collaboration with Spanish logistics operator Sesé and the regional government of Aragon, indicating a strong local partnership for the initiative [2] - PlusAI is planning a public listing on Nasdaq through a business combination with Churchill Capital Corp IX, expected to close in the first quarter of 2026, highlighting its growth strategy [2] Group 2 - Iveco is set to be delisted following Tata Motors' announcement of a 3.8-billion-euro acquisition deal, which may impact its operational strategies and market presence [3]

Core Insights - North American Class 8 truck orders surged in December, reaching the highest level in over three years, with preliminary net orders totaling 42,200 units, reflecting a 108% month-over-month increase and a 21% year-over-year increase [1][2] Group 1: Order Trends - December's Class 8 truck orders significantly exceeded the 10-year December average of approximately 29,000 units, marking the strongest monthly order intake since October 2022 [2] - The increase in orders was primarily driven by on-highway equipment, contributing to the year-over-year gains [2] Group 2: Market Conditions - Despite the strong December performance, cumulative orders for the 2026 order season, which began in September, are down 22% year over year, indicating ongoing challenges in the freight market and restrained capital spending among fleets [3] - Analysts from FTR noted that the rebound in orders does not indicate a full recovery in demand, as freight demand remains soft and fleet profitability is under pressure [5] Group 3: Regulatory Impact - The spike in December orders was attributed to improved policy clarity regarding tariffs and emissions rules, with Section 232 tariffs on Class 3-8 trucks being less severe than initially anticipated [4] - Expectations of revisions to the Environmental Protection Agency's 2027 NOx rule also contributed to reduced regulatory uncertainty, which helped explain the timing of the order surge in December rather than November [4] Group 4: Future Outlook - The order strength in December is likely a result of deferred orders and the early stages of a modest pre-buy related to the EPA 2027 NOx rule, rather than a broader demand recovery [6] - A more sustainable recovery in equipment demand will depend on improvements in underlying economic conditions and the freight market [6]

Upgrades - Bradesco BBI upgraded Volaris (VLRS) to Outperform from Neutral with a price target of $12 [2] - Loop Capital upgraded Ollie's Bargain Outlet (OLLI) to Buy from Hold with a price target of $135, increased from $130, citing underestimated comp potential in fiscal 2026 [2] - Raymond James upgraded Cummins (CMI) to Outperform from Market Perform with a price target of $585, noting a change in sentiment for the second half of 2026 despite a cautious near-term outlook [3] Downgrades - Janney Montgomery Scott downgraded Heritage Commerce (HTBK) to Neutral from Buy with a fair value estimate of $14 following an acquisition agreement with CVB Financial (CVBF) [4] - William Blair downgraded Clearwater Analytics (CWAN) to Market Perform from Outperform without a price target after a take-private deal at $24.55 per share [5] - Raymond James double downgraded Sealed Air (SEE) to Market Perform from Strong Buy without a price target, indicating reduced odds for a topping bid after the conclusion of the "go-shop" period [6] - Citi downgraded Amicus (FOLD) to Neutral from Buy with a price target of $14.50, down from $17, after BioMarin announced an acquisition for $4.8 billion or $14.50 per share [6] Initiations - Wells Fargo initiated coverage of Arcellx (ACLX) with an Overweight rating and a price target of $100, viewing its anti-cel as a future pillar in multiple myeloma treatment [7] - Jefferies initiated coverage of BlackSky (BKSY) with a Buy rating and a price target of $23, projecting sales to double to $211 million by 2028 [7] - BTIG initiated coverage of Invivyd (IVVD) with a Buy rating and a price target of $10, highlighting its effective antibody production [7] - Jefferies initiated coverage of Relmada Therapeutics (RLMD) with a Buy rating and a price target of $9, noting a transformation towards oncology and neuro pipeline [7] - Seaport Research initiated coverage of MasterCraft Boat (MCFT) with a Neutral rating and no price target, expressing caution due to competitive pressures in the marine industry [7]