华尔街最受关注、最能影响市场走势的研究评级现已汇总于此。以下是由《The Fly》整理的、投资者 需了解的今日机构评级变动。 重点上调评级 责任编辑：郭明煜 华尔街最受关注、最能影响市场走势的研究评级现已汇总于此。以下是由《The Fly》整理的、投资者 需了解的今日机构评级变动。 重点上调评级 Arete 将 Spotify（SPOT） 评级从中性上调至买入，目标价 586 美元。该机构认为公司付费会员 业务毛利率持续改善，且 Spotify 面临的 AI 颠覆风险极小。 Arete 将 Spotify（SPOT） 评级从中性上调至买入，目标价 586 美元。该机构认为公司付费会员 业务毛利率持续改善，且 Spotify 面临的 AI 颠覆风险极小。 TD Cowen 在投资者日之后，将 纳斯达克（NDAQ） 评级从持有上调至买入，目标价从 105 美元 上调至 106 美元。理由是近期股价回调，且对纳斯达克平台（尤其金融科技板块）的可持续性更 有信心。 富国银行将 爱尔康（ALC） 评级从持平上调至超配，目标价从 88 美元上调至 97 美元。认为其 2026 年业绩指引存在上行空间，新产品周期正开始推动 ...

Did you know Walmart’s advertising business accounted for about 30% of the company’s operating profit last year? Did you even know that Walmart has an advertising business?That stunning fact, unknown to many people (including me), exemplifies the conclusion of a new McKinsey study, published today. In the report, Inspired for business growth: How five companies beat the market, researchers at the consulting firm examined how big companies grow both revenue and profits impressively over time—no easy task.The ...

智通财经APP获悉，在家装零售商劳氏(LOW.US)表示利率和其他压力仍在拖累房屋销售后，美国房屋 建筑商和其他房地产相关公司股价周三大幅下挫，多只股票成为当天标普500指数中百分比跌幅最大的 个股，与美股大盘0.8%的涨幅形成鲜明对比。数据显示，劳氏跌5.6%，莱纳建筑(LEN.US)跌4.9%，普 得集团(PHM.US)跌4.7%，霍顿房屋(DHI.US)跌4.0%，建筑材料公司Builders FirstSource(BLDR.US)跌 6.4%。此外，标普1500房屋建筑指数下跌3.7%，触及三周低点;费城住房行业指数下跌3%。 周三公布的数据显示，美国30年期固定抵押贷款平均利率下降8个基点至6.09%。然而，作为房地产市 场最具前瞻性的指标之一，购房贷款需求下降了4.7%。 由于供应有限、利率高企和建筑成本上升，美国房地产市场一直举步维艰，1月成屋销售降至两年多来 最低水平。美国总统特朗普在周二晚间的国情咨文中重申了限制大公司拥有住房数量的计划。对此，俄 克拉荷马州塔尔萨Longbow Asset Management首席执行官杰克·多拉海德表示："你可能会认为，总统关 于禁止大型企业购房的言论将 ...

6,623,629+$21.61+7.99%$292.18[Seagate Technology][STX]• Vol: 2,019,018+$26.19+6.61%$422.21[Corning][GLW]• Vol: 9,799,528+$9.90+6.53%$161.49## Top Losing Stocks[GoDaddy][GDDY]• Vol: 5,118,149-$14.5415.75%$77.76[First Solar][FSLR]• Vol: 6,538,924-$32.2213.25%$210.99[CoStar Group][CSGP]• Vol: 6,360,940-$5.6711.54%$43.48[Builders FirstSource][BLDR]• Vol: 933,545-$6.846.24%$102.84[Lennar][LEN]• Vol: 1,174,147-$6.785.82%$109.62 Bitcoin's Brutal Pullback Has ARKB Investors Searching for Answers - 24/7 Wall St.[S&P ...

interest rate movements.…]## Is Vanguard's Bond Fund ETF Still Worth Owning After A Horrible 2025? | BNDX[Michael Williams | Jan 1, 2025 at 8:20 AM EST When every other asset class is posting double-digit gains, a bond fund delivering 3% feels like dead weight. That's the…]## Wealthy Retirees Have A Special Loophole With A High Yield Municipal Bond ETF[Michael Williams | Jan 12, 2026 at 1:41 PM EST When retirees face higher tax brackets from pension income, Social Security, and portfolio withdrawals, every ...

Core Insights - The housing market is currently weak, facing challenges such as affordability issues, low consumer confidence, and depressed commodity prices, leading to a decline in sales and starts [2][18] - Despite macroeconomic pressures, the company remains focused on growth, operational excellence, and strategic investments to enhance its competitive position [3][4][27] - The company has successfully navigated through a challenging environment by maintaining profitability and investing in technology and value-added solutions [3][4][7] Market Conditions - The housing market is characterized by more headwinds than tailwinds, with sales falling more than expected in late 2025 due to builders delaying starts to manage excess inventory [2][18] - Economists have mixed outlooks for 2026, with some predicting further declines in single-family starts while others expect modest growth amid uncertain macro conditions [2] - Commodity prices have dropped significantly, with a composite below $350 per thousand board feet as of late 2025, impacting overall market dynamics [2] Financial Performance - For Q4 2025, net sales decreased by 12% to $3.4 billion, driven by a 15% decline in single-family sales and a 20% decline in multifamily sales [18] - Gross profit for Q4 was $1 billion, a 19% decrease year-over-year, with a gross margin of 29.8%, down 250 basis points [19] - Adjusted EBITDA was $275 million, down approximately 44%, with an adjusted EBITDA margin of 8.2%, reflecting lower gross profit margins [21] Strategic Initiatives - The company invested over $110 million in new and upgraded value-added operations in 2025, focusing on enhancing capabilities and expanding its footprint [7] - A total of 25 facilities were consolidated in 2025, with a focus on maximizing operational flexibility and reducing capital expenditures [6] - The company has made 40 acquisitions since the BMC merger in 2021, representing over $2.3 billion in annual sales, indicating a strong commitment to growth through M&A [10][11] Technology and Innovation - The company is investing in digital solutions and technology to enhance customer experience and streamline operations, processing nearly $7 billion in quotes through its digital platform in 2025 [12][13] - Ongoing implementation of SAP is expected to improve operational efficiency, with plans for broader deployment in 2026 [14] - AI initiatives are being integrated to enhance estimating processes and improve sales efficiency, although headcount reductions have not been significant [69][71] 2026 Outlook - The company expects net sales for 2026 to be in the range of $14.8 billion to $15.8 billion, with adjusted EBITDA projected between $1.3 billion and $1.7 billion [23] - Gross margin for 2026 is anticipated to be between 28.5% and 30%, reflecting the ongoing challenges in the housing market [24] - Free cash flow is expected to be approximately $500 million, influenced by a shift in working capital dynamics compared to 2025 [24][22]

Productivity initiatives delivered $48 million in savings during 2025, primarily through targeted supply chain optimizations and operational excellence.Digital platform adoption accelerated significantly, with quotes processed increasing over 130% year-over-year to nearly $7 billion through 2025.Strategic M&A remains a core growth pillar, highlighted by the acquisition of Pleasant Valley Homes to expand prefabricated, factory-built housing solutions for labor-constrained builders.The company consolidated 25 ...

Core Insights - The company reported a 12% year-over-year decline in net sales to $3.4 billion, primarily due to lower core organic sales and commodity deflation, with a sharp sales deceleration in the fourth quarter [2][5] - Core organic sales fell due to a 15% decline in single-family, a 20% decline in multifamily, and a 7% decline in repair and remodel, attributed to ongoing consumer uncertainty [1][5] - The company is managing spending and maintaining flexibility by aligning capacity, managing headcount, and reducing capital expenditures, consolidating 25 facilities in 2025 [3][5] Financial Performance - Gross profit was $1.0 billion, down 19% year over year, with a gross margin of 29.8%, down 250 basis points [8] - Adjusted EBITDA was $275 million, down about 44%, with an adjusted EBITDA margin of 8.2%, down 470 basis points [8] - Adjusted EPS decreased by 52% to $1.12 [8] Cost Management and Productivity - The company is implementing $100 million in cost actions, including $75 million in year-over-year cost reductions and $25 million in cost avoidance, primarily related to SG&A [7] - Productivity savings of $48 million were generated in 2025, mainly through targeted supply chain initiatives [9] Acquisitions and Growth Strategy - The company completed several acquisitions in late 2025 and early 2026, contributing to over $2.3 billion in annual sales since the 2021 BMC merger [10] - The acquisition of Pleasant Valley Homes is aimed at expanding the company's prefabricated component strategy [11] Technology and Digital Strategy - The company’s digital platform processed nearly $7 billion of quotes in 2025, reflecting over 130% year-over-year growth [12] - Progress was made in SAP implementation, with plans for broader deployment in 2026 [13] Cash Flow and Guidance - Fourth-quarter operating cash flow was $195 million, with free cash flow of $109 million, and full-year free cash flow of $874 million, equating to an approximately 8% free cash flow yield [14] - For 2026, the company guided net sales of $14.8 billion to $15.8 billion and adjusted EBITDA of $1.3 billion to $1.7 billion, with expectations of a gross margin of 28.5% to 30% [15] Market Outlook - The company anticipates a challenging macro environment for the first quarter, with net sales guidance of $3.0 billion to $3.3 billion [16] - Management expects a heavier contribution in the second half of 2026, with signs of stabilization in multifamily starts [17]

Core Viewpoint - ProShares SQQQ is designed to profit when the Nasdaq-100 declines, but its daily rebalancing mechanism leads to significant long-term losses, making it suitable only for short-term tactical plays [1] Group 1: Performance Metrics - SQQQ gained 6.2% year-to-date as tech stocks faced pressure from higher interest rate concerns [1] - Over the past year, SQQQ dropped 42.3%, illustrating the decay effect from daily rebalancing despite the Nasdaq-100's modest rise [1] Group 2: Market Dynamics - The performance of SQQQ is heavily influenced by the Federal Reserve's monetary policy, particularly whether it maintains a restrictive stance or signals a dovish pivot [1] - Tech valuations are sensitive to real interest rates, with higher rates leading to downward repricing of growth stocks, benefiting SQQQ [1] Group 3: Leverage Mechanics - SQQQ employs 3x daily leverage, which creates a compounding problem over time, making its performance over longer periods unpredictable [1] - The fund's daily reset means that during volatile markets, the expected returns may not align with the 3x inverse of the Nasdaq-100's movement [1]

Core Insights - Eli Lilly's Q4 earnings exceeded expectations with an EPS of $7.54 compared to the expected $6.67, and the company projected 2026 revenue between $80 billion and $83 billion [1] - The company's Mounjaro revenue increased by 110% to $7.4 billion in Q4, while Zepbound revenue rose by 123% to $4.2 billion [1] - Eli Lilly's operating margins reached 45.6% and net margins were at 31.7%, indicating strong financial performance [1] Financial Performance - Eli Lilly's stock was trading at $1,040, just 5.8% below its all-time high as of February 13, 2026 [1] - Retail sentiment shifted from neutral to bullish, with a sentiment score increase from 57.3 to 65.7 following the earnings report [1] - Analysts maintain a consensus target price of $1,201, with some projecting a higher target of $1,350 based on the company's growth potential [1] Strategic Initiatives - Eli Lilly has committed $1 billion to develop a supercomputer in collaboration with Nvidia to enhance drug discovery processes [1] - The establishment of a co-innovation lab with Nvidia aims to integrate clinical data with advanced computational capabilities [1] - The company has built a $1.5 billion stockpile of orforglipron, anticipating an FDA decision in April 2026, positioning itself for market capture [1] Competitive Landscape - Eli Lilly's GLP-1 franchise is outperforming competitors, with significant revenue growth compared to Novo Nordisk, which is facing projected sales declines of 5% to 13% in 2026 [1] - The company's quarterly revenue growth was reported at 42.6%, indicating strong momentum in its product pipeline [1]