Core Insights - Loomis Sayles Global Growth Fund focuses on high-quality companies with competitive advantages and long-term growth potential, aiming for attractive cash flow and sustained value for investors [1] - The Fund reported a return of -3.05% in Q4 2025, underperforming the MSCI ACWI Index Net, which returned 3.29% [1] Company Overview: Netflix, Inc. - Netflix, Inc. is a leading internet entertainment platform and a pioneer in subscription video on demand (SVOD), with over 300 million paid subscribers globally [3] - The company operates in a total addressable market of one billion households outside of China, generating nearly 60% of its revenue from international markets [3] - As of February 12, 2026, Netflix's stock closed at $75.86 per share, reflecting a one-month return of -13.80% and a 12-month decline of 28.34% [2] - Netflix has a market capitalization of $321.79 billion [2]

Company Overview - AppLovin Corporation (NASDAQ:APP) is a software platform that assists advertisers and app developers in marketing and monetizing their content, offering advertising solutions, analytics tools, connected TV services, and mobile games [2]. Recent Performance - AppLovin was highlighted by Jim Cramer as one of the noteworthy S&P 500 stocks, experiencing a significant single-day sell-off that was described as "exaggerated" [1]. - In January, AppLovin was the worst performer in the S&P 500, with a decline of nearly 30%, reflecting investor concerns about AI displacement affecting enterprise software companies [1]. Business Focus - The core business of AppLovin revolves around advertising for mobile games, although the company has recently expanded into e-commerce advertising [1].

Core Viewpoint - Playtika Holding (PLTK) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Ratings - The Zacks rating system is based solely on a company's changing earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [1][2]. - The recent upgrade reflects an improved earnings outlook for Playtika, which could lead to increased buying pressure and a rise in stock price [3][5]. Impact of Institutional Investors - Changes in future earnings potential, as shown by earnings estimate revisions, are strongly correlated with stock price movements, largely due to institutional investors who adjust their valuations based on these estimates [4]. - Institutional investors' actions, driven by earnings estimates, can significantly influence stock price movements [4]. Earnings Estimate Revisions for Playtika - For the fiscal year ending December 2025, Playtika is expected to earn $0.47 per share, unchanged from the previous year, but the Zacks Consensus Estimate has increased by 11.6% over the past three months [8]. Zacks Rank System Overview - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks which have averaged a +25% annual return since 1988 [7]. - The upgrade to Zacks Rank 2 places Playtika in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Company Overview - AppLovin Corporation (NASDAQ:APP) is a software-based advertising and app monetization company that operates through two segments: Advertising and Apps. The company also develops and publishes free-to-play mobile games through its studios and partners [4]. Market Position and Growth Potential - AppLovin is recognized as a leading ad tech platform in mobile gaming and is emerging as a significant channel for e-commerce marketers, which is expected to enhance the company's overall market presence [2]. - Evercore ISI initiated coverage of AppLovin with an Outperform rating and a price target of $835, highlighting the platform's expanding growth opportunities as it establishes an effective advertising unit for e-commerce [1]. Financial Projections - Evercore anticipates that the combined mobile gaming and e-commerce ad expenditure will drive revenue and EBITDA growth of at least 30% annually from 2025 to 2028. This growth is supported by strong recent momentum indicated by third-party pixel tracking and industry assessments [3]. - AppLovin aims to achieve a strong single-digit to low double-digit adoption of direct-to-consumer e-commerce ad spend by fiscal year 2028, which translates to approximately $3.4 billion in revenue based on $7.5 billion in advertising expenditures [3].

Group 1 - AppLovin Corporation (NASDAQ:APP) is recognized for its strong momentum but is noted for having one of the highest price-to-earnings multiples in the market, which raises concerns about investment risk [1] - The company operates a software platform that aids advertisers and app developers in marketing and monetizing their content, offering various solutions including advertising, analytics, and mobile games [2] - AppLovin was highlighted as the eighth-best stock in the Nasdaq-100, with significant gains earlier in the year, finishing 2025 up 108%, although it has flattened out in recent months [2] Group 2 - AppLovin's earnings per share are projected to reach $9.37 for 2025, more than double the expected figure for 2024, indicating substantial growth potential [2] - The company has experienced a revenue increase of approximately threefold over the past four years, with Wall Street forecasting 37% revenue growth and 56% earnings growth moving forward [2] - AppLovin is described as having a unique market position with no identifiable competitors, suggesting a strong competitive advantage in the advertising software sector [2]

Company Overview - AppLovin Corporation (NASDAQ:APP) is a software platform that assists advertisers and app developers in marketing and monetizing their content, offering advertising solutions, analytics tools, connected TV services, and mobile games [2]. Market Position and Performance - AppLovin is recognized as the eighth-best stock in the Nasdaq-100, with significant retail following and a stock price that increased by 108% in 2025 after substantial gains earlier in the year [1]. - The company has experienced remarkable revenue growth, tripling its revenue over the past four years, and is projected to have earnings per share of $9.37 for 2025, more than double the expected figure for 2024 [1]. Valuation and Growth Expectations - AppLovin's stock is currently trading at 43 times this year's earnings estimates, which is considered expensive but relatively cheaper compared to Palantir [1]. - Wall Street anticipates continued growth for AppLovin, with expectations of 37% revenue growth and 56% earnings growth in the near future [1]. Competitive Landscape - The company appears to have a unique market position, with no identifiable competitors, suggesting a dominant presence in its sector [1].

Company Overview - AppLovin Corporation (NASDAQ:APP) provides a software platform that assists advertisers and app developers in marketing and monetizing their content, offering advertising solutions, analytics tools, connected TV services, and mobile games [2]. Investment Sentiment - Jim Cramer expressed mixed feelings about AppLovin, indicating that while the company is profitable and well-managed, its current price-to-earnings ratio of 77 times earnings is too high, suggesting a need to sell half of the stock due to the associated risks [1]. - Cramer acknowledged AppLovin as an impressive company that generates significant revenue, positioning it as a strong player in its industry, despite being in the minority among professionals who share this view [2]. Market Position and Comparisons - While AppLovin shows potential as an investment, there are other AI stocks that may offer greater upside potential and lower downside risk, indicating a competitive landscape in the tech sector [2].

Core Viewpoint - Core AI Holdings, Inc. is set to host an investor conference call on December 4, 2025, to discuss operational progress and strategic developments aimed at sustainable long-term growth [1]. Company Overview - Core AI Holdings, Inc. is a global AI-driven mobile games developer and publisher based in Miami, focusing on creating entertaining games for millions of players worldwide [2]. - The company has developed and co-developed over 2,200 games, achieving over 800 million downloads and a user base exceeding 40 million across more than 140 countries [2]. Conference Call Details - The investor conference call will take place at 4 p.m. Eastern Time on December 4, 2025, with toll-free and international call options provided [2]. - A webcast link for the conference call is available for participants [2]. - Replay information for the conference call is also provided, including toll-free and international numbers along with a passcode [2].

Core AI Holdings Overview - Core AI Holdings, Inc. has announced the formation of Core Digital, a wholly-owned subsidiary aimed at entering the digital marketing sector [1][2] - The company is focused on leveraging its AI capabilities to expand into one of the fastest-growing technology markets globally [2] Strategic Goals - Core Digital will integrate Core AI's proprietary machine learning and media analytics platform to create an AI-driven digital marketing ecosystem [2] - The initiative is part of a broader strategy to expand into high-growth digital media segments and establish a strong operational presence in Asia [7] - Core Digital is expected to be operational by the first quarter of 2026 [3] Company Background - Core AI Holdings is an international AI-driven mobile games developer and publisher, having developed over 2,200 games and achieved over 800 million downloads [4] - The company aims to harness AI to build transformative offerings across multiple verticals, with a global user base exceeding 40 million from over 140 countries [4]

Summary of Bilibili Inc. (BILI) 3Q25 Earnings Call Company Overview - **Company**: Bilibili Inc. (BILI) - **Quarter**: 3Q25 - **Revenue**: Rmb 7.7 billion, a 5% year-over-year increase Key Financial Metrics - **Non-GAAP EPADS**: Rmb 1.73, up 14% year-over-year - **Daily Active Users (DAU)**: 117 million, up 9.3% year-over-year - **Monthly Active Users (MAU)**: 376 million, up 8% year-over-year - **Advertising Revenue**: Rmb 2.57 billion, a 23% year-over-year increase - **Game Revenue**: Rmb 1.51 billion, down 17% year-over-year - **Operating Profit (adj.)**: Rmb 688 million, a 6% increase compared to expectations Revenue Breakdown - **Advertising Revenue**: Increased by 23% year-over-year, exceeding expectations by 2% [2][4] - **Live Broadcasting and VAS**: Grew by 7% year-over-year, but fell short of expectations by 3% [2][4] - **Deferred Revenue**: Increased by Rmb 189 million quarter-over-quarter [2] Strategic Focus Areas 1. **Advertising Trends**: Discussion on advertising performance during the Single's Day Festival and outlook for 2026 [3] 2. **User Feedback**: Insights on user feedback for Sanguo: NCard test and game revenue trends [3] 3. **Margin Expansion**: Potential for margin expansion and mid-to-long term targets [3] 4. **AI Strategy**: Updates on AI strategy and its benefits to the Bilibili ecosystem [3] Risks and Challenges - **Valuation Risks**: Concerns over relatively high valuation and potential de-rating risks [10] - **User Growth**: Possible slowdown in user engagement as the market matures, facing competition from short-form video platforms [10] - **Game Longevity**: Risks associated with weaker-than-expected game longevity and pipeline [10] Investment Outlook - **Price Target**: $30.00 for BILI, representing a 10.3% upside from the current price of $27.19 [11] - **Market Capitalization**: $11.4 billion [11] - **EBITDA Forecast**: Expected to grow from Rmb 2.27 billion in 2024 to Rmb 7.26 billion by 2027 [11] Conclusion - **Overall Assessment**: Bilibili Inc. shows promising growth in advertising and user engagement, but faces challenges in game revenue and market competition. The company is positioned for potential margin expansion and strategic growth in the coming years.