Core Viewpoint - U.S. stock futures are trading higher, indicating a positive market sentiment for the day ahead [1] Company Summaries - Aecom (NYSE:ACM) is expected to report quarterly earnings of $1.17 per share with projected revenue of $3.61 billion, and its shares increased by 2.4% to close at $101.03 on Friday [1] - ON Semiconductor Corp. (NASDAQ:ON) is anticipated to post quarterly earnings of 62 cents per share on revenue of $1.54 billion, with shares gaining 0.1% to $65.23 in after-hours trading [1]

Core Insights - Aecom is a global leader in infrastructure consulting services, specializing in engineering, architecture, and construction management, competing with major players like Jacobs Engineering and Fluor Corporation [1] Price Target Analysis - The consensus price target for Aecom has fluctuated, with an average target of $135 set last month, reflecting optimism about the company's near-term performance due to its strong market position and diverse service offerings [2] - The average price target in the last quarter was slightly lower at $131.1, indicating increased analyst confidence in Aecom's future prospects [3] - A year ago, the average price target was $134.31, and the current target of $135 suggests a generally positive long-term outlook, with Citigroup setting a price target of $105, aligning with the favorable sentiment among analysts [4]

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央视网消息：北京时间2月4日3:45，意甲第23轮，AC米兰做客雷纳托·达拉拉球场对阵博洛尼亚。上半 场，奇克错失单刀良机，随后奇克破门打破僵局，恩昆库点射扩大领先优势；下半场，拉比奥特破门。 最终，AC米兰3-0击败博洛尼亚，AC米兰已保持22轮不败，继续排名联赛第二，距离榜首还有5分差 距。 责编：李磊、卢思宇 ...

Core Insights - The U.S. Navy has awarded a $150 million contract to a joint venture of AECOM and Stantec for the modernization of the Portsmouth Naval Shipyard in Kittery, Maine [2][5]. Group 1: Contract Details - The contract is a five-year, firm-fixed-price, indefinite-delivery/indefinite-quantity agreement focusing on upgrading dry docks, production facilities, utilities, and waterfront infrastructure [2][4]. - The contract includes a base year and four option years, allowing for up to 60 months of performance or until the maximum contract value is reached [4]. Group 2: Strategic Importance - This project is part of the Navy's Shipyard Infrastructure Optimization Program, aimed at modernizing public shipyards through integrated infrastructure and industrial equipment investments [5]. - AECOM's executive vice president highlighted the award as a testament to the company's technical leadership and its role in enhancing fleet readiness and operational resilience [3]. Group 3: Previous Experience - AECOM has a nearly 100-year relationship with the Navy and has recently completed an area development plan for the Pearl Harbor Naval Shipyard [6]. - Stantec has previously collaborated with NAVFAC at all four major shipyards, including ongoing contracts at Pearl Harbor and Puget Sound [7].

Core Viewpoint - Allied Critical Metals Inc. is launching a 20,000 meter drilling campaign at its Borralha Tungsten Project in Portugal, aimed at expanding high-grade tungsten mineralization and supporting economic studies [1][2]. Program Details & Objectives - The 2026 drilling program will include approximately 20,000 meters of core and reverse circulation drilling across multiple target zones within the Borralha property [2][8]. - The campaign will focus on expanding and upgrading the current Mineral Resource Estimate (MRE), testing extensions of the Santa Helena Breccia, and collecting material for advanced metallurgical test work [7][8]. - The program aims to generate data to support the anticipated Preliminary Economic Assessment (PEA) targeted for completion in Q1 2026 [7][8]. Strategic Importance - Tungsten is classified as a strategic critical material in the European Union and the United States, highlighting the importance of advancing the Borralha Project [2]. - The Borralha Project is considered one of the most compelling untapped tungsten assets in Western Europe, with confirmed bulk mineralization and higher-grade corridors suitable for future underground extraction [2][10]. Regulatory and Development Progress - The company has received key regulatory milestones that allow for the advancement of the Borralha Project through detailed engineering and permitting phases [3]. - Continued progress is anticipated alongside the 2026 drill campaign [3]. Market Context - The tungsten market is estimated to be valued at approximately USD 5 to 6 billion, with significant applications in defense, manufacturing, and energy sectors [11]. - Currently, China, Russia, and North Korea account for about 87% of the total global supply and reserves of tungsten [11].

Revenue Outlook - The company has updated its full year 2025 revenue outlook to a range of $885 to $900 million, compared to the previous range of $875 million to $925 million [1] - Projected revenue for 2026 is expected to be between $1,080 million and $1,175 million, based on assessments of international trade policies, customer spending scenarios, supply chain constraints, and tool acceptance timing [2] Growth Strategy - The company anticipates a higher revenue growth rate in 2026 due to healthy investments in production capacity and market share gains from newer products [3] - The company expects stable wafer fabrication equipment (WFE) spending from customers, with contributions from single-wafer SPM cleaning tools, Tahoe cleaning tools, and Furnace series tools [3] - Investments in Oregon are being accelerated to support the industry's shift towards domestic semiconductor production [3] Financial Reporting - The company plans to release its fourth quarter and full year 2025 financial results in late February 2026, with the 2025 revenue outlook being preliminary and subject to review and audit [3]

Core Viewpoint - AECOM has been recognized for the twelfth consecutive year on Fortune magazine's list of the World's Most Admired Companies, highlighting its industry leadership and commitment to delivering high-value professional services [1][2]. Company Achievements - AECOM's recognition reflects its progress in building a higher-value professional services business, showcasing its technical expertise, global scale, and strong client relationships [3]. - The company achieved an all-time high win rate on projects, with approximately 80% win rate on its largest pursuits [7]. - AECOM secured the No. 1 overall design firm ranking from Engineering News-Record in 2025 and reaffirmed its top rankings across primary end markets [7]. - The company launched its AI for Engineering platform and Oscar, a proprietary large language model, to transform infrastructure delivery through AI [7]. - AECOM's employee satisfaction is high, with a record 79% of employees recommending it as a great place to work [7]. Strategic Focus - AECOM's strategy is guided by its "Think and Act Globally" approach, emphasizing innovation and value in client projects [2]. - The company has expanded its Advisory organic growth platform to enhance consulting services for clients facing complex initiatives [7].

Group 1 - AECOM plans to release its first quarter fiscal 2026 earnings results on February 9, 2026, after U.S. market close [1] - A conference call and webcast will be held on February 10, 2026, at 8 a.m. Eastern Time to discuss financial results, outlook, and market trends [1] - The conference call can be accessed by dialing 800-599-5188 (U.S.) or 646-307-1591 (international) with passcode 7295287 [2] Group 2 - AECOM is a global infrastructure leader with a revenue of $16.1 billion in fiscal year 2025 [3] - The company provides professional services in various sectors including water, environment, energy, transportation, and buildings [3] - AECOM partners with both public and private sector clients to deliver innovative and sustainable solutions throughout the project lifecycle [3]

Core Viewpoint - Allied Critical Metals Inc. has received a Favourable Environmental Impact Declaration (DIA) for its Borralha Tungsten Project in Portugal, marking a significant regulatory milestone that allows the project to advance towards development and production [1][5][8]. Regulatory Milestones - The issuance of the DIA confirms the environmental acceptability of the Borralha Project and enables progression to the Project of Execution and Environmental Compliance Report (RECAPE) stage, along with subsequent licensing phases [5][8]. - The project has also received a formal Letter of Recognition from idD Portugal Defense, acknowledging its strategic importance for national defense supply chains [2][8]. Project Overview - The Borralha Project is an underground mining initiative targeting tungsten production, with by-products including copper and tin concentrates [9]. - Tungsten is classified as a critical raw material under the EU Critical Raw Materials Act, essential for various industrial and defense applications [9][10]. Environmental and Social Considerations - The environmental approval was based on a comprehensive Environmental Impact Assessment (EIA) that evaluated potential effects on environmental, social, and cultural factors, along with mitigation measures [11][12]. - The project aims to generate employment and economic activity in the Municipality of Montalegre, contributing to regional development [13]. Next Steps - Following the DIA, the company plans to implement underground mining with limited surface disturbance, develop closed-loop water management systems, and conduct environmental monitoring [15][16]. - The company will also prepare the necessary documentation for the Project of Execution and advance detailed engineering and technical studies [16].