智通财经APP获悉，思科(CSCO.US)周四成为市场关注焦点。尽管这家网络设备巨头公布的业绩与指引 被部分华尔街人士评价为"稳健"，内存成本大幅上行引发投资者对毛利率的担忧，思科股价盘初跌超 10%。 美国银行分析师Tal Liani指出，思科第四财季的市场预期"偏保守"。公司给出的第三财季收入指引同比 增长9.5%，明显高于市场预期的7.3%。不过，他同时表示，更强劲的硬件增长、更高的云业务占比， 以及内存价格同比暴涨约400%，正在侵蚀公司毛利率。 Liani在报告中称，产品提价有望对冲部分成本压力。近期园区交换机与计算相关产品价格已上调约 3%，在年初至今内存价格持续走高的背景下，进一步提价的可能性仍然存在。管理层预计，毛利率压 力在短期内仍将持续，但通过运营效率提升，或可抵消影响，从而维持运营利润率的稳定。Liani维持 对思科的"买入"评级和95美元目标价，并认为公司正同时受益于强劲的硬件周期和网络升级周期。 他补充称，思科在园区网络更新周期中处于有利位置，服务器、Wi-Fi以及工业物联网解决方案有望带 来额外增长。安全业务预计全年仍将偏弱，但SASE、XDR以及升级后的防火墙等新产品需求健康，当 ...

每经编辑｜段炼 当地时间2月12日，美股三大指数高开后回落，截至发稿，纳指转跌0.71%，道指涨幅回落至0.13%，标普500指数转跌。超3200股下跌。 消息面上，美国上周初请失业金人数为22.7万人，预估为22.4万人，前值为23.1万人。 科技七姊妹走势分化，英伟达、谷歌微涨0.1%上下，特斯拉、微软、Meta、亚马逊、苹果下跌。其中苹果一度接近2%，市值跌破4万美元大关。美股存储 概念股大涨后回落，截至发稿闪迪涨超5%，美光科技涨超2%。 | 1 | | 英伟达 | 190.320 | +0.14% | | --- | --- | --- | --- | --- | | | | NVDA | | | | 2 | S | 闪迪 | 633.590 | +5.71% | | | | SNDK | | | | 3 | | 美元 | 421.430 | +2.70% | | | | MU | | | | 4 | - | 特斯拉 | 427.380 | -0.21% | | | | TSLA | | | | 5 | | 台积电 | 375.810 | +0.46% | | | | TSM | | | | 6 | ...

市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 风险提示及免责条款 标普跌0.5%，纳指跌超1%。包括华盛顿康捷国际物流公司和罗宾逊全球物流在内的卡车运输及物流相 关企业周四股价迅速下跌。 物流公司罗宾逊全球物流一度下跌13%；XPO Inc下跌2.5%，Landstar System下跌8.5%，JB Hunt运输服务下跌3.1%，华盛顿康捷国际物流公司下跌11%。 ...

Financial Data and Key Metrics Changes - The company reported consolidated revenue of $20.3 million for Q3 fiscal 2026, with total revenues for the nine months reaching over $58 million [4][13] - Adjusted EBITDA for Q3 was $2.6 million, contributing to a positive consolidated adjusted EBITDA of $1.6 million for the second quarter [13] - The company posted a net loss of $4.1 million or 37 cents per diluted share for Q3 [13] Business Line Data and Key Metrics Changes - The audio division generated $18.6 million in revenue for Q3 and $52.2 million for the nine-month period, with an Adjusted EBITDA of $2.6 million for Q3 [5][13] - PodcastOne subsidiary achieved record revenue of $15.9 million and adjusted EBITDA of $2.8 million [13][14] - Slacker subsidiary reported Q3 revenue of $2.8 million with an adjusted EBITDA of negative $0.1 million [13] Market Data and Key Metrics Changes - The company has over $125 million in net operating loss carryforwards, which represent significant long-term shareholder value and tax efficiencies [5][6] - Industry valuation dynamics are improving, with the company trading at 60% of revenues compared to the industry average of over 3x revenues [6] Company Strategy and Development Direction - The company is focused on expanding partnerships with major players like Amazon, Apple, and Tesla, aiming to launch three significant Fortune 500 partnerships [7][9] - A strategy is in place to convert over 1 million free and ad-supported subscribers into paid tiers, representing potential incremental revenue [7] - The company is also expanding its original IP, having sold its fourth television series to a major streaming platform [8] Management's Comments on Operating Environment and Future Outlook - Management highlighted that the company has emerged leaner and more disciplined after navigating various challenges, positioning itself for the next growth cycle [4][5] - The preliminary fiscal guidance for the upcoming year is set at $85 million to $95 million in revenues and $8 million to $10 million in Adjusted EBITDA [5][40] - Management expressed confidence in the company's undervaluation and the potential for significant growth driven by B2B partnerships and AI initiatives [11][12] Other Important Information - The company has streamlined its workforce from 350 to 88 members, resulting in a reduction of operating expenses by over 52% year-over-year [4] - The company is actively exploring M&A opportunities as the market stabilizes and valuations normalize [7][11] Q&A Session Summary Question: On the B2B business, can you elaborate on customization and options for customers? - Management stated that the company is uniquely positioned in the B2B space, leveraging AI for customization and offering competitive pricing [17][20] Question: What is the competitive landscape for content provision? - Management indicated that while some competition exists, the company's unique service offerings and flexibility provide a competitive advantage [29][31] Question: What is the potential for advertising revenue from Slacker's non-subscription customers? - Management noted that they are actively increasing advertising offerings and expect to convert free subscribers into paid subscriptions over time [24][26] Question: When will the 10-Qs be released? - The CFO confirmed that the 10-Qs for both LiveOne and PodcastOne would be released the following day [47] Question: How sustainable are current cost levels? - The CFO indicated that G&A and sales and marketing costs are expected to decrease further in the upcoming quarters [49][50] Question: What is the timing for revenue from the 30 million subscriber deal? - Management mentioned that revenue from this deal is expected to ramp up in the following year, with some initial revenue potentially coming in this quarter [61][63]

Innovative Aerosystems (NasdaqGS:ISSC) Q1 2026 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsJeff DiGiovanni - CFOJosh Sullivan - Managing DirectorPaul Bartolai - PartnerShahram Askarpour - CEOConference Call ParticipantsBobby Brooks - VP and Senior Equity Research AnalystDanny Eggerichs - Equity Research AnalystOperatorGood day, and welcome to the Innovative Aerosystems first quarter fiscal 2026 financial results conference call. All participants will be in listen-only mode. Should you ne ...

STAG Industrial (NYSE:STAG) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsBill Crooker - CEOMatts Pinard - CFOStephen Necks - COOSteve Xiarhos - VP of Investor RelationsConference Call ParticipantsBlaine Heck - AnalystBrendan Lynch - AnalystCraig Mailman - AnalystJohn Kim - AnalystMichael Carroll - AnalystMichael Griffin - AnalystMike Mueller - AnalystNick Thillman - AnalystRichard Anderson - AnalystVince Tibone - AnalystOperatorWelcome to the STAG Industrial fourth quarter 2025 ea ...

Financial Data and Key Metrics Changes - The company reported GAAP net income of $68.3 million and AFFO of $99.7 million for Q4 2025 [3][4] - AFFO per share totaled $0.49, representing a 9% increase compared to Q4 2024 [14] - The company increased its 2026 AFFO per share guidance range to $1.99-$2.04, implying a growth rate of about 7% at the midpoint and 8% at the high end [6][17] Business Line Data and Key Metrics Changes - The company executed a differentiated investment strategy, sourcing 85% of $296 million in investments through existing relationships [5] - Same-store rent growth was 1.6%, with strong rent coverage of 3.6 times [6][8] - The portfolio ended the quarter with investments in 2,300 properties leased to over 400 tenants, maintaining a weighted average lease term of approximately 14 years [7] Market Data and Key Metrics Changes - The company noted a stabilization in competition, which is expected to lead to a slower decrease in cap rates than previously anticipated [24][32] - The average initial cash yield for investments was 7.7%, with a compelling GAAP yield of 9.1% [6][11] Company Strategy and Development Direction - The company aims to maintain a dominant position as a real estate capital provider to middle-market operators [4] - The focus remains on optimizing cost of capital and delivering shareholder value, with a commitment to a well-capitalized balance sheet [14][17] - The company plans to continue its investment strategy without significant changes, emphasizing relationships with existing operators [32][82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the health of the portfolio, citing better-than-expected credit trends and a strong investment pipeline [21][22] - The company anticipates modest cap rate compression in the latter half of 2026, driven by market conditions [44][45] - Management remains cautious about the macroeconomic environment but believes the current strategy will support growth [82][84] Other Important Information - The company sold 19 properties for $48.1 million in net proceeds at a 6.9% weighted average cash yield during Q4 [9] - Tenant concentration continues to decline, with the top 10 tenants comprising only 16.5% of ABR [10] Q&A Session Summary Question: Changes in guidance range - The CFO explained that the guidance was adjusted due to better-than-expected portfolio credit trends and same-store rent growth [21][22] Question: Impact of competition stabilization - Management clarified that stabilization in competition does not imply a shift to a safer tenant base but indicates a slower decrease in cap rates [24][25] Question: Acquisition trends and drivers - Management noted that the strong start to the year in acquisitions was partly due to deal slippage from Q4 and emphasized the need for caution in interpreting early trends [30][31] Question: Portfolio credit events - Management confirmed that the only notable credit event was with American Signature, which is expected to recover within normal ranges [36][37] Question: Dividend growth expectations - The CFO indicated that while dividends are important, the decision on future increases will be made by the board, balancing current returns and retained capital [39][40] Question: Cap rate stabilization across industries - Management confirmed that cap rate stabilization is observed across all industries they invest in, with no significant deviations [32][33] Question: Future investment pipeline - Management expressed confidence in the investment pipeline, indicating that the opportunity set is not a constraint for future growth [96][97]

Howmet Aerospace (NYSE:HWM) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsJohn Plant - Executive Chairman and CEOPatrick Winterlich - EVP and CFOPaul Luther - VP of Investor RelationsConference Call ParticipantsDoug Harned - Managing Director and Senior AnalystJohn Godin - Equity Research AnalystLuwei Federal - AnalystPeter Arment - Managing Director and Senior Research AnalystRobert Stallard - Partner and Senior Equity AnalystScott Deuschle - Director and Senior Equity AnalystSeth ...

Sphere Entertainment (NYSE:SPHR) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsAri Danes - VP of Investor RelationsDavid Karnovsky - Managing DirectorJames Dolan - Executive Chairman and CEOJennifer Koester - resident of Sphere Business OperationsRobert Langer - EVP, CFO, and TreasurerRyan Sigdahl - Managing DirectorConference Call ParticipantsBrandon Ross - Partner and AnalystDavid Joyce - Equity Research AnalystJoe Stauff - AnalystLogan Angress - Equity Research AnalystPeter Hend ...

IPG Photonics (NasdaqGS:IPGP) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsEugene Fedotov - Senior Director of Investor RelationsMark Gitin - CEORuben Roy - Managing Director and Equity ResearchTim Mammen - SVP and CFOConference Call ParticipantsJames Ricchiuti - Equity Research AnalystRodney McFall - Equity Research AnalystScott Graham - Senior Equity Research AnalystOperatorGood morning, and welcome to IPG Photonics' Fourth Quarter 2025 conference call. Today's call is being rec ...