22 February 2026 | 4:02PM EST Equity Research Microsoft Corp. (MSFT) Maia 200, an updated inference cost curve, and implications for Microsoft's internal silicon strategy MSFT 12m Price Target: $600.00 Price: $397.23 Upside: 51.0% Microsoft announced Maia 200, its updated custom accelerator for AI inference, on 1/26. Our initial understanding of Maia's benchmarks and our conversations in industry suggest that Microsoft has made meaningful progress on its internal silicon strategy over the past year. Before ...

February 19, 2026 10:37 PM GMT Knowledge Atlas Technology JSC Ltd | Asia Pacific A Global AI Foundation Model Leader with Favorable Mix Shift With leading AI foundation model capabilities and a favorable mix shift, we see rapid revenue growth ahead for Z.ai despite limited US exposure. As a pure play, we believe it also commands a scarcity valuation premium. Key Takeaways A global AI foundation model leader with deep academic roots in Tsinghua University: Z.ai (also known as Zhipu and Knowledge Atlas) consi ...

Ferretti (SEHK:09638) Q4 2025 Earnings call February 24, 2026 08:00 AM ET Company ParticipantsAlberto Galassi - CEOMarco Zammarchi - CFOMargherita Sacerdoti - Head of Investor Relations and SustainabilityNatasha Brilliant - Executive DirectorConference Call ParticipantsAdrien Duverger - Equity Research AnalystEmanuele Gallazzi - Equity AnalystMargherita SacerdotiGood afternoon, everyone, welcome to Ferretti Group 2025 preliminary results webinar. Thank you all for joining us. We appreciate your time and int ...

Ferretti (SEHK:09638) Q4 2025 Earnings call February 24, 2026 08:00 AM ET Company ParticipantsAlberto Galassi - CEOMarco Zammarchi - CFOMargherita Sacerdoti - Head of Investor Relations and SustainabilityNatasha Brilliant - Executive DirectorConference Call ParticipantsAdrien Duverger - Equity Research AnalystEmanuele Gallazzi - Equity AnalystMargherita SacerdotiGood afternoon, everyone, welcome to Ferretti Group 2025 Preliminary Results Webinar. Thank you all for joining us. We appreciate your time and int ...

Ferretti (SEHK:09638) Q4 2025 Earnings call February 24, 2026 08:00 AM ET Speaker4Good afternoon, everyone, welcome to Ferretti Group 2025 preliminary results webinar. Thank you all for joining us. We appreciate your time and interest in Ferretti Group as we share an overview of our performance over the past year and discuss the outlook for the future. Before we begin, let me introduce our speakers: Mr. Alberto Galassi, Chief Executive Officer; Mr. Marco Zammarchi, Chief Financial Officer; myself, Head of I ...

FY 2025 PRELIMINARY RESULTS unaudited data TODAY'S PRESENTERS CHIEF FINANCIAL OFFICER MARGHERITA SACERDOTI HEAD OF INVESTOR RELATIONS & SUSTAINABILITY MARCO ZAMMARCHI ALBERTO GALASSI CHIEF EXECUTIVE OFFICER TBD 2 TODAY'S AGENDA | 1 | Key Highlights | | --- | --- | | 2 | Business Dynamics | | 3 | Financial Results | | 4 | Final Remarks | | Q&A | | 3 Key Highlights 01 01 Key Highlights TURNING STRATEGY INTO RESULTS: OUTPERFORMED CONSENSUS & REFERENCE MARKET, WITH FY'25 GUIDANCE FULLY ACHIEVED ORDER BACKLOG4 R ...

Standard Chartered Investor overview February 2026 Standard Chartered history spans over 170 years We operate in the world's most dynamic markets Present in 54 markets; using the power of our network to maximise opportunities for people and businesses who trade, operate, or invest across our markets. Our diverse experience, capabilities and culture set us apart Our locations Europe and America Our Americas franchise is focused on CIB business, and our London headquarters also services our Private Bank clien ...

Standard Chartered (SEHK:02888) Q4 2025 Earnings call February 24, 2026 03:00 AM ET Company ParticipantsAman Rakkar - Director and Head of UK Banks CoverageBill Winters - Group Chief Executive OfficerChen Li - Chief Economist and Head of ResearchEdward Firth - Managing DirectorJason Napier - Managing Director and the Head of European Banks ResearchJoseph Dickerson - Managing Director and Head of European Banks ResearchManus Costello - Global Head of Investor RelationsPeter Burrill - Interim Group Chief Fina ...

Financial Data and Key Metrics Changes - The underlying Return on Tangible Equity for 2025 was 14.7%, with record annual income of $20.9 billion, up 8% year-on-year [3][5] - Profit before tax increased by 18% to $7.9 billion, with earnings per share rising by 37% [12][21] - The full-year net interest income (NII) was $11.2 billion, up 1%, while non-NII increased by 13% year-over-year [13][14] Business Line Data and Key Metrics Changes - Corporate and Institutional Banking (CIB) income was $12.4 billion, up 4%, with Global Banking up 15% and Global Markets up 12% [22][23] - Wealth and Retail Banking (WRB) income was $8.5 billion, up 6%, driven by a 24% increase in Wealth Solutions [24][30] - The affluent segment saw a cumulative total of $52 billion in net new money for 2025, reflecting a 14% growth in affluent AUM [24][30] Market Data and Key Metrics Changes - Underlying customer deposits increased by 12% in the year, with growth in CASA and term deposits across WRB and CIB [20] - Risk-weighted assets were $258 billion, up 4% in 2025, with a CET1 ratio of 14.1% [21] Company Strategy and Development Direction - The company plans to shift to reporting on a reported basis, moving away from underlying financials to provide clearer financial disclosures [6][25] - The focus remains on sustainable growth, with a commitment to maintaining a high-performance culture and optimizing resources [7][29] - The company aims to create a distinctive and high-performing institution that delivers growth across all dimensions for clients and shareholders [36] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in the resilience of global trade and capital flows despite geopolitical tensions and market volatility [2][4] - The outlook for 2026 anticipates income growth at the lower end of the historical 5-7% range, with a focus on maintaining a statutory return on tangible equity of greater than 12% [25][26] Other Important Information - A new $1.5 billion share buyback was announced, alongside a 65% increase in the full-year dividend per share [4][21] - The company has mobilized $157 billion in sustainable finance since 2021, aiming for $300 billion by 2030 [34] Q&A Session Summary Question: On investments and account opening capacity in wealth - The company is currently delivering 60,000 new clients per quarter without capacity constraints, with ongoing investments to remove bottlenecks [39][41] Question: On episodic income performance in Q4 - Q4 episodic income was weak due to large client transactions, but overall growth in financial markets remains strong [46][49] Question: On net interest income and HIBOR impact - The majority of the NII increase in Q4 was due to HIBOR movements, and Q4 should not be used as a baseline for future projections [61][65] Question: On guidance for income growth and dividend payout ratio - The company expects double-digit growth in non-interest income, with a focus on broad-based growth across all business lines [71][84]

Standard Chartered (SEHK:02888) Q4 2025 Earnings call February 24, 2026 03:00 AM ET Speaker4Good morning, and good afternoon, everyone, and welcome to our full year 2025 results call. I'm joined here in London by Pete Burrill, our interim group CFO, and Manus Costello, our global head of Investor Relations. We'll take you through our results and outlook before opening up for questions. 2025 was an extraordinary year by any measure. It tested the resilience of the global system and the relevance of instituti ...