Core Viewpoint - Kyivstar Group has officially commenced trading on Nasdaq under the ticker symbol "KYIV", marking it as the first and only pure-play Ukrainian investment opportunity in U.S. stock markets [1][2]. Company Overview - Kyivstar Group is a leading digital operator in Ukraine, serving nearly 23 million mobile customers and over 1.1 million home internet fixed line customers as of June 30, 2025 [4]. - The company provides a wide range of services, including 4G, big data, cloud solutions, cybersecurity, and digital TV [4]. - Kyivstar Group plans to invest USD 1 billion in Ukraine from 2023 to 2027, focusing on social investments in infrastructure, technological development, charitable donations, and strategic acquisitions [4]. Leadership Statements - Augie Fabela, Chairman and Founder of VEON, emphasized that the listing symbolizes an opportunity to invest in Ukraine and contribute to its economic recovery [3]. - Kaan Terzioglu, VEON Group CEO, highlighted the significance of the listing as a reflection of years of customer focus and resilience [3]. - Oleksandr Komarov, President of Kyivstar, expressed pride in the company's role as a backbone of Ukraine's resilience and its commitment to serving customers with a growing portfolio of digital services [3]. Market Impact - The listing of Kyivstar on Nasdaq is expected to inspire American investors to engage with Ukraine's recovery and encourage Ukrainian businesses to connect with the global community [3]. - Kyivstar is scheduled to ring the Nasdaq's Opening Bell on August 29, 2025, to formally mark its public listing [3].

Core Insights - ePlus reported Q1 FY2026 results with GAAP revenue of $637.3 million, exceeding analyst estimates of $523.9 million, and Non-GAAP EPS of $1.26, surpassing expectations of $1.06, marking significant year-over-year growth [1][2] - The company set all-time quarterly records for gross billings and net sales, driven by broad-based revenue expansion primarily from services [1] - ePlus initiated its first-ever quarterly dividend and launched a new share repurchase program, enhancing its capital return profile [1][10] Financial Performance - Non-GAAP EPS increased by 24.8% year-over-year to $1.26, while GAAP revenue rose by 19.0% compared to the previous year [2] - Adjusted EBITDA reached $46.7 million, reflecting a 19.4% increase from $39.1 million in Q1 FY25 [2] - Gross profit was $148.2 million, up 16.8% from $126.9 million a year earlier [2] Business Model and Focus - ePlus provides a range of technology solutions including consulting, cloud, security, managed services, and IT infrastructure products, targeting commercial, healthcare, education, and government sectors [3] - The company has formed strategic partnerships with major technology vendors like AWS, Cisco, Microsoft, and VMware to offer multi-vendor solutions [3] Service and Product Performance - Services revenue surged by 48.8% year-over-year to $116.3 million, with professional services nearly doubling, increasing by 92.4% [5] - Cloud-related net sales climbed 50.8% to $206.996 million, while security product sales advanced by 27.3% [6] - However, networking and collaboration product sales declined by 7.0% and 43.7%, respectively, indicating a shift in customer demand [6] Strategic Actions - ePlus completed the sale of its financing business to focus on higher-growth technology solutions, marking its transition to a pure technology solutions company [4][10] - The company reduced inventory by 16.1% compared to Q4 FY2025, while trade receivables increased by 35.6% [10] Outlook - For fiscal 2026, ePlus raised its financial outlook, expecting net sales and gross profit to grow in the upper single-digit percentage range, with adjusted EBITDA projected to rise in the mid-teens [12] - Strong demand in cloud, security, and data center markets is anticipated to continue driving growth [12]

Core Points - Kyivstar Group Ltd., Ukraine's leading digital operator, has filed a Registration Statement with the SEC as part of its plans to list on Nasdaq following a business combination with Cohen Circle Acquisition Corp. I [1][2][3] - The business combination is expected to close in the third quarter of 2025, pending shareholder approval and customary closing conditions [3][4] - Kyivstar Group serves over 23 million mobile customers and 1.1 million home internet customers, and plans to invest USD 1 billion in Ukraine by 2027 [5] Company Overview - Kyivstar Group operates as a major provider of mobile communication in Ukraine, offering a range of services including 4G, big data, cloud solutions, and digital TV [5] - VEON, the parent company of Kyivstar Group, provides digital services to nearly 160 million customers across six countries [6] - Cohen Circle Acquisition Corp. I is a special purpose acquisition company formed to facilitate mergers and business combinations in the technology and financial services sectors [7][8]

Industry Overview - The technology services industry is mature with strong demand for services, and revenues, income, and cash flows are expected to gradually return to pre-pandemic levels, supporting stable dividends for most players [1] - The industry thrived in 2024 and continued its momentum into the first quarter of 2025 [1] - The global shift towards digitization is creating opportunities in markets such as 5G, blockchain, and artificial intelligence (AI), with companies rapidly adopting generative AI, machine learning (ML), and data science to gain competitive advantages [4] Investment Outlook - The Zacks-defined Technology Services industry ranks within the top 26% of Zacks Ranked Industries, indicating an expectation to outperform the market over the next three to six months [2] - Five mid and small-sized technology services stocks with strong short-term upside potential are recommended: Byrna Technologies Inc. (BYRN), Climb Global Solutions Inc. (CLMB), Adeia Inc. (ADEA), Priority Technology Holdings Inc. (PRTH), and Ivanhoe Electric Inc. (IE) [2][3] Company Highlights Byrna Technologies Inc. (BYRN) - Engaged in developing and selling less-lethal personal security solutions across multiple regions [6] - Average short-term price target indicates a potential increase of 48.6% from the last closing price of $25.53, with a target range of $33-$38 [8] - Expected revenue and earnings growth rates for the current year are 30.2% and 12.9%, respectively [9] Climb Global Solutions Inc. (CLMB) - Operates as a value-added IT distribution and solutions company [10] - Average short-term price target suggests a potential increase of 26.2% from the last closing price of $110.28, with a target range of $136 [13] - Expected revenue and earnings growth rates for the current year are 5% and 2.7%, respectively [14] Adeia Inc. (ADEA) - Operates as a media and semiconductor intellectual property licensing company [16] - Average short-term price target indicates a potential increase of 25.2% from the last closing price of $13.75, with a target range of $17-$18 [18] - Expected revenue and earnings growth rates for the current year are 9.2% and 7.1%, respectively [18] Priority Technology Holdings Inc. (PRTH) - Functions as a payment technology company with multiple segments [20] - Average short-term price target suggests a potential increase of 71.6% from the last closing price of $7.46, with a target range of $10-$16 [24] - Expected revenue and earnings growth rates for the current year are 11.4% and over 100%, respectively [25] Ivanhoe Electric Inc. (IE) - Focuses on minerals exploration and development, particularly for electrification [27] - Average short-term price target indicates a potential increase of 105.9% from the last closing price of $6.85, with a target range of $10-$20 [28] - Expected revenue and earnings growth rates for the current year are 2.6% and 51.4%, respectively [28]

Core Insights - Teradata (TDC) reported first-quarter 2025 non-GAAP earnings of 66 cents per share, exceeding the Zacks Consensus Estimate by 15.79%, with a year-over-year increase of 15.8% [1] - Revenues for the quarter were $418 million, missing the Zacks Consensus Estimate by 1.71%, and reflecting a 10% decline year over year on a reported basis and an 8% decline on a constant-currency basis [1] Revenue Breakdown - Total annual recurring revenues (ARR) at the end of Q1 declined 3% year over year to $1.442 billion, with a 2% decline at constant currency [2] - Public cloud ARR increased by 15% on a reported basis and 16% at constant currency year over year to $606 million, driven by rising demand for cloud solutions [2] - Recurring revenues, which contributed 85.6% to total revenues, fell 8% year over year on a reported basis to $358 million [4] - Perpetual software license and hardware revenues increased by 25% year over year to $10 million, while consulting services revenues dropped by 27.5% year over year to $50 million [4] Operating Performance - The gross margin on a non-GAAP basis was 60.3%, down 190 basis points year over year [5] - Selling, general & administrative (SG&A) expenses decreased by 28% year over year to $116 million, while research & development (R&D) expenses were $66 million, down 12% year over year [5] - The non-GAAP operating margin improved to 21.8%, up 270 basis points year over year [5] Balance Sheet Overview - As of March 31, 2025, Teradata had cash and cash equivalents of $368 million, down from $420 million as of December 31, 2024 [6] - Long-term debt was $449 million, slightly down from $455 million as of December 31, 2024 [6] - The company generated $8 million in cash from operating activities in Q1, a significant decrease from $156 million in the previous quarter [6] Guidance and Projections - For Q2 2025, Teradata expects non-GAAP earnings per share between 37 cents and 41 cents, with total revenues anticipated to decline by 7-9% year over year [8] - For the full year 2025, non-GAAP earnings per share are expected to be between $2.15 and $2.25, with total revenues projected to decrease by 4-7% from the previous year [8] - Public cloud ARR growth is projected between 14% and 18% year over year, while total ARR is expected to be flat to grow by 2% year over year [9]

Group 1 - Dell Technologies is initiated with a Strong Buy rating and a price target of $135, recognized as a global leader in IT infrastructure, commercial PCs, and cloud solutions [1] - The investment conviction is based on two compounding catalysts that are expected to drive growth [1] - Moretus Research emphasizes a structured, repeatable framework to identify companies with durable business models and mispriced cash flow potential, focusing on U.S. public markets [1] Group 2 - Moretus Research combines rigorous fundamental analysis with a judgment-driven process, avoiding noise and overly complex forecasting [1] - Valuation methods are based on sector-relevant multiples tailored to each company's business model and capital structure, emphasizing comparability and relevance [1] - The research coverage tends to favor underappreciated companies undergoing structural change or temporary dislocation, aiming for asymmetric returns through dispassionate analysis [1]