HI-Quality Company Updates

Monday, May 4, 2026

Amazon’s-AMZN announced Amazon Supply Chain Services, its full shipping and distribution network to outside businesses. The rollout expands Amazon’s reach far beyond its own retail operations, offering companies end‑to‑end handling of freight, distribution, fulfillment and parcel delivery. In effect, Amazon is positioning itself as a one‑stop logistics provider—directly competing with established carriers and third‑party logistics firms.

Canadian National Railway-CNI is back in the spotlight after reporting a record 3.2 million metric tons of grain moved from Western Canada in April, pushing several rail‑linked transport names higher on expectations of sustained volume strength. The company said April marks its eighth straight month of strong grain movement, with seven of those months setting new records for the crop year. CNI attributes the surge to steady export demand, ample grain supply and what it describes as efficient network performance across both Canadian and U.S. corridors. The continued momentum reinforces CNI’s position as a key conduit for North American grain exports and signals that the current crop year could finish as one of the strongest on record for the railway.

Saturday, May 2, 2026

Berkshire Hathaway-BRKB reported the company’s net worth during the first quarter increased by 1.4%, or $9.8 billion, to $727.2 billion with book value equal to about $505,723 per Class A share as of 3/31/26.  Berkshire boasts the largest shareholders’ equity of any U.S. company.

Net Earnings and Investment Gains

Berkshire Hathaway’s first-quarter GAAP net earnings surged to $10.1 billion, more than doubling the $4.6 billion reported a year earlier.

However, these figures remain subject to heavy volatility due to fluctuations in the market value of Berkshire's massive equity portfolio. For the quarter, the company recorded $1.2 billion in investment losses—a combination of $7.0 billion in unrealized losses offset by $5.8 billion in realized gains—representing a significant improvement over the $5.0 billion loss in the prior year period.

As of quarter-end, Berkshire’s "Big Five" holdings accounted for approximately 61% of its total equity portfolio. Performance among these core assets was mixed:

• Chevron led the group with a 37% spurt driven by rising oil prices.
• Coca-Cola also performed well, popping 9%.
• American Express faced a sharp 18% decline as Mr. Market swiped credit card companies lower during the quarter.
• Bank of America and Apple also saw pullbacks, dropping 11% and 7%, respectively.

Revenues and Operating Earnings

During the first quarter, Berkshire’s total revenues increased 4% to $93.7 billion and operating earnings jumped 18% to $11.3 billion, driven by gains in all business segments, notably in the company’s insurance businesses.

Insurance

Berkshire Hathaway’s insurance segment delivered a powerhouse performance in the first quarter of 2026, with underwriting earnings climbing 29% to $1.7 billion. This leap was primarily driven by a "catastrophe-free" quarter, a stark contrast to the $860 million in wildfire losses that dented results in Q1 2025. Despite the overall gain, GEICO’s pre-tax underwriting earnings fell 35% to $1.4 billion due to rising costs and a competitive landscape. Berkshire’s primary and reinsurance groups saw improved results during the quarter.

Insurance investment income slipped 7% to $2.7 billion, largely due to a lower interest rate environment affecting bond and cash yields.  Berkshire's "all-important" insurance float—premiums held before claims are paid—grew by approximately $500 million during the quarter to reach $176.9 billion.  Because underwriting was profitable, the cost of this massive $176.9 billion capital pool was effectively negative.

Railroad (BNSF)

BNSF’s quarterly revenue rose 5% to $6.0 billion, fueled by a 2.2% uptick in volume and a 2.8% rise in revenue per car/unit. The growth was spearheaded by a robust 12% boost in agricultural and energy shipments, while the increase in revenue per car reflected disciplined core pricing and higher fuel surcharges.

Even more impressive was the bottom line: net earnings chugged 13% higher to $1.4 billion. This outsized profit growth was driven by a 200-basis-point expansion in operating margin (reaching 34.4%), signaling that the railroad successfully converted modest volume gains into significant profitability through enhanced operational efficiency.

BNSF still is “working on the railroad” to improve margins further as it enviously eyes Union Pacific’s 39.5% operating margin. Katie Farmer, the company’s CEO, described at the annual meeting her plan to continue to focus on operational efficiency, technological modernization and targeted capital investments.

Energy (BHE)

Berkshire Hathaway Energy delivered a 5% revenue increase to $6.7 billion in the first quarter of 2026, although net earnings growth remained muted at 1.5% ($1.1 billion). Strong performance in natural gas pipelines and federal tax credits were largely offset by continuing headwinds in U.S. utility operations.

PacifiCorp’s cumulative wildfire loss estimates reached approximately $2.9 billion by March 31, 2026, with $2.3 billion already paid. While a recent Oregon Court of Appeals ruling in April 2026 reversed and remanded a significant verdict against the company, PacifiCorp may still face material losses beyond current accruals as litigation continues

Manufacturing

Berkshire’s Manufacturing businesses reported revenues increased 10% to $20.7 billion for the first quarter with operating earnings up 13% to $3.1 billion.

The Industrial Products segment delivered robust results, with revenues jumping 24% to $11.2 billion and operating earnings rising 22% to $1.9 billion. While the Q1 acquisition of OxyChem provided a $1.2 billion boost to the top line, organic growth was led by IMC. Driven by accelerated customer purchasing, IMC’s revenues rose 21% to $1.2 billion, while pre-tax earnings hammered out a 42% gain. Notably, IMC’s global operations—including its significant manufacturing base in Israel—have remained resilient and unaffected by recent regional conflicts.

Building Products revenues declined 3% to $6.0 billion, with operating earnings falling 9% to $804 million. This performance was impacted by softer customer demand, driven by broader economic conditions and significant weather disruptions across parts of the U.S. during the first quarter of 2026.

The Consumer Products segment saw a 2% revenue decline to $3.5 billion, yet operating earnings motored 30% higher to $324 million. While lower sales volumes at Fruit of the Loom, Garan, Jazwares, and Forest River pressured the top line, these were partially offset by growth at Brooks and Duracell. The significant earnings expansion was driven by expense reductions at Forest River, robust sales at Brooks, and the benefit of tax credits at Duracell.

Service and Retailing

Service and Retailing revenues increased 4% during the quarter to $34.2 billion with pre-tax earnings dropping 9% to $1.2 billion.

The Service group delivered a standout performance, with revenues rising 17% to $6.4 billion and pre-tax earnings climbing 21% to $785 million. Growth was fueled by significant gains across the portfolio, including a 26% revenue surge at electronics distributor TTI, a 24% increase at IPS (data center construction services), and 12% growth in aviation services. Profitability gains were primarily driven by TTI’s strong performance, with additional contributions from the aviation sector.

Retailing group revenues eased 2% to $4.6 billion, while pre-tax earnings edged up 1% to $296 million. The revenue decline was largely driven by a 3% contraction at Berkshire Hathaway Automotive (BHA), which accounts for approximately 70% of the group’s top line. Despite lower vehicle sales, BHA’s pre-tax earnings rose 4%, bolstered by strong service contract performance and reduced operating expenses. Conversely, the group’s other retail businesses faced headwinds from increased competition and shifting consumer confidence, resulting in a collective 12% decline in earnings.

Pilot Travel Centers’ first-quarter revenues rose 8% to $11.2 billion, bolstered by higher fuel prices. However, the company reported a pre-tax loss of $50 million, as performance was pressured by lower gross fuel margins, elevated operating expenses, and losses from hedging contracts.

McLane’s revenues declined 2% to $11.9 billion, primarily reflecting lower sales volumes following the loss of several customers. Pre-tax earnings fell 20% to $144 million, driven by compressed gross margins and rising operating expenses.

Financial Position

As of March 31, 2026, Berkshire Hathaway maintains an exceptionally strong capital base of $727.2 billion, supported by significant liquidity. Excluding investments in railroads and energy, the company held $699.2 billion in total investments, with a heavy weighting toward cash and cash equivalents:

• Cash and Short-Term Investments: $373.5 billion (53.4% of non-operating investments).
• Equity Securities: $288.0 billion (41.1%), consisting of various marketable holdings.
• Equity Method Investments: $20.0 billion (3.0%), which includes significant stakes in:
• Kraft Heinz: 27.5% ownership.
• Occidental Petroleum: 26.9% ownership.
• Fixed-Income Investments: $17.7 billion (2.5%).

This massive liquidity position provides Berkshire with substantial "dry powder" for future acquisitions or market opportunities.

Free Cash Flow

During the first quarter of 2026, Berkshire generated $10.4 billion in operating cash flow and invested $5.0 billion in capital expenditures, including capital expenditures of $3.2 billion by BNSF and BHE. BNSF and BHE maintain very large investments in capital assets (property, plant and equipment) and regularly make significant capital expenditures in the normal course of business. BHE and BNSF forecast capital expenditures for the remainder of 2026 of approximately $12.4 billion. Free cash flow during the quarter declined 18% to $5.4 billion, reflecting investment-related items and higher income taxes.

During the quarter, Berkshire paid $16.0 billion to acquire equity securities and received proceeds of $24.0 billion from the sale of stocks, including the likely liquidation of many of the stocks previously managed by Todd Combs, the former investment manager who departed Berkshire. Berkshire purchased a net $1.9 billion in Treasury Bills and fixed-income investments during the quarter.

On January 2, 2026, Berkshire acquired Occidental’s chemicals business (“OxyChem”) for approximately $9.5 billion. On Feb. 15, 2026, PacifiCorp announced plans to sell part of its Washington operations for $1.9 billion in cash which is expected to close in the first half of 2027.

Share Repurchases

Berkshire Hathaway continues to repurchase shares when market prices fall below intrinsic value, as conservatively determined by CEO Greg Abel in consultation with Chairman Warren Buffett. During March 2026, the company repurchased 33 Class A shares at an average price of $729,701 and 431,462 Class B shares at an average price of $486.92. With the stock currently trading at a discount to these latest repurchase prices, long-term investors may find this an attractive entry point to buy Berkshire Hathaway.

 

Friday, May 1, 2026

Paychex-PAYX announced that its Board of Directors has declared a regular quarterly cash dividend on Paychex common stock of $1.19 per share, an increase of $0.11 (or 10%) from the prior quarterly dividend of $1.08 per share, payable on May 29, 2026 to shareholders of record as of May 13, 2026.

         

The War Department has signed agreements with seven leading frontier artificial intelligence companies—SpaceX, OpenAI, Google-GOOGL, NVIDIA-NVDA, Reflection, Microsoft-MSFT, and Amazon Web Services-AMZN—to bring advanced AI capabilities onto the Department’s classified networks for lawful operational use. The initiative accelerates the Department’s transformation into an AI‑first fighting force and strengthens warfighters’ ability to maintain decision superiority across all domains.

Thursday, April 30, 2026

Despite supply constraints, Apple-AAPL reported record fiscal second quarter results with revenues climbing 17% to $111.2 billion, net income rising 19% to $29.6 billion and EPS up 22% to $2.01. This was Apple’s best March quarter ever with the company generating double-digit growth across every geographic segment, led by 28% growth in Greater China. iPhone’s revenues jumped 22% to a record $57 billion, fueled by “extraordinary demand” for the iPhone 17 lineup. During the quarter, Services revenues increased 16% to a record $31 billion with broad-based growth across the company’s record 2.5 billion active devices. Apple’s retail stores generated record results with heavy global traffic in the stores as the company celebrated its 5oth anniversary.  The company ended the quarter with a strong balance sheet with $147 billion in cash and investments, $70 billion in long-term debt and $106.5 billion in shareholders’ equity. During the first half of the year, Apple’s free cash flow jumped 64% to $78.2 billion, and the company paid $8 billion in dividends and repurchased $37 billion of its common stock. Apple announced a 4% increase in its quarterly dividend to $.27 per share and an additional share repurchase program of $100 billion. As previously announced, Tim Cook will be transitioning to Executive Chairman of Apple on Sept. 1 and remains “extremely optimistic” about Apple’s future over the next 50 years and beyond. Apple's new CEO is John Ternus, a 25-year veteran of the company and former Senior Vice President of Hardware Engineering. John Ternus described Apple’s "incredible roadmap" for upcoming products and services, stating that the next few years will be the company's most exciting period in a quarter-century. Apple remains committed to its disciplined capital allocation strategy, which is first to reinvest in the business and then return excess cash to shareholders. Apple has distributed over $1 trillion to shareholders through $850 billion in share repurchases and $150 billion in dividends. The fiscal third quarter outlook is for revenues to increase 14%-17%, despite continued supply constraints, with gross margin in the 47.5% to 48.5% range and operating expenses in the range of $18.8 billion to $19.1 billion.

Broadridge Financial Solutions-BR delivered an 8% increase in fiscal third quarter revenue to $1.95 billion with net income up 13.7% to $276.3 million and EPS up 15.1% to $2.36 on fewer shares outstanding. Recurring revenues increased 7%, to $1.288 million, driven by organic growth in Investor Communication Solutions (ICS) and Global Technology and Operations (GTO) and acquisitions in ICS. Event-driven revenues increased 38% to $73 million, from a combination of higher mutual fund proxy revenues and higher equity and other revenues. Distribution revenues increased 7%, to $593 million, driven primarily by the postage rate increase. Closed sales declined 19% during the quarter to $57.5 million due to increased deal sizes which take longer to close. During the first nine months of fiscal 2026, Broadridge Financial Solutions generated $598 million in free cash flow and returned $683.6 million to shareholders through dividend payments of $330.7 million and $352.9 million in share repurchases. In addition, Broadridge invested $300 million to make four strategic tuck-in acquisitions to drive future growth. Robust cash flow generated by the company enable it to maintain its investment-grade credit rating, make internal investments to drive organic growth, pay a strong dividend growing in line with earnings, pursue attractive M&A while also buying back shares that currently offer a compelling value, according to the management team leading the earnings conference call. Broadridge ended the quarter with $304.8 million in cash, $2.7 billion in long-term debt and $2.8 billion in shareholders’ equity on its sturdy balance sheet. Based on strong fiscal year-to-date performance, the company raised its fiscal 2026 guidance with recurring revenue growth in constant currency at or above 7% and adjusted EPS growth in the 10%-12% range. The company expects its free cash flow conversion rate to exceed 100% during fiscal 2026. These results demonstrate the power of Broadridge’s strategy and proven ability to execute. 

 

ResMed-RMD reported a healthy 11% increase in revenue to $1.4 billion with net income up 9.2% to $398.7 million and EPS up 11% to $2.74. By segment, global revenue for Devices increased 9% to $735.7 million, Masks and other revenue increased 15% to $524.8 million and Residential Care Software sales increased 6% to $170.8 million.  Gross margin increased by 290 basis points primarily driven by component cost improvements and manufacturing and logistics efficiencies, as well as a small positive impact from product mix and foreign currency changes. During the first nine months of fiscal 2026, ResMed generated $1.25 billion in free cash flow, up 8% from last year, with the company returning $762.9 million to shareholders through dividend payments of $262.6 million and share repurchases of $500.0 million, including $175 million purchased during the fiscal third quarter. The company expects to repurchase at least $175 million of its shares during the fourth quarter. Management announced the acquisition of Noctrix Health, a company that targets restless leg syndrome, with higher growth and profit margins than ResMed for $340 million. ResMed ended the quarter with $1.7 billion in cash, $404.2 million in long-term debt and $6.5 billion in shareholders’ equity on its pristine balance sheet. Management remains positive about future growth spurred by numerous studies that show patients with an obstructed sleep disorder who are prescribed a GLP-1 drug are more likely to initiate PAP therapy and have higher PAP resupply rates. For the full year, expects gross margins of 62% to 63%.

RTX-RTX announced that its board of directors declared a dividend of 73 cents per outstanding share of RTX common stock, which represents an increase of 7.4% over the prior quarter's dividend amount. The dividend will be payable on June 11, 2026 to shareowners of record at the close of business on May 22, 2026.

Stryker-SYK delivered a steady start to the year, reporting total net sales of $6.02 billion, a 2.6% increase over the prior year. Reported net earnings rose 13.9% to $745 million, while diluted EPS grew 14% to $1.93. International sales increased 8.3% to $1.54 billion, while the U.S. market remained relatively flat at 0.8% growth. MedSurg and Neurotechnology led performance with 5.0% growth to $3.21 billion, driven by strong Vascular and Instruments results, while Orthopaedics was essentially flat at $2.81 billion. Notably, the apparent 98.9% decline in Spinal Implants reflects a major reporting change rather than a collapse in demand: Stryker reorganized its spine enabling technologies portfolio into the Instruments business as part of the creation of its new Ortho Tech division, which now houses Mako robotics, power tools and enabling technologies to streamline customer experience and accelerate innovation. A significant factor shaping first‑quarter results was the cybersecurity incident first reported on March 11, 2026. Stryker described the event as a global disruption caused by an unauthorized party in its environment, occurring late in the quarter and creating an outsized impact on sales through delayed shipments and deferred revenue recognition. Recovery required wiping 40,000 laptops and company phones and resulted in a three‑week production pause before full operations were restored by the week of April 1. The shutdown contributed to lower adjusted EPS, a 190‑basis‑point decline in adjusted gross margin and a 180‑basis‑point contraction in adjusted operating margin, compounded by incremental tariff costs and higher interest expense tied to debt issued for the Inari acquisition. Despite these distortions, Stryker demonstrated resilience. Free cash flow rose 227% to $415 million, supported by stronger operating earnings, improved receivables collections and reduced acquisition spending. The company returned $337 million to shareholders through dividends and reaffirmed its full‑year 2026 guidance of 8.0% to 9.5% organic net sales growth and adjusted EPS of $14.90 to $15.10. Management expects most delayed revenue to be recognized in the second quarter, with fulfillment of backlogged orders and rescheduled procedures occurring in the second half of the year. Strategic momentum remains strong, with several “turbo booster” products—including Mako Shoulder on the Mako 4 platform, the handheld Mako RPS system, the Pangaea trauma platform and the LIFEPAK 35 defibrillator—positioned to drive growth later in 2026 and into 2027. CEO Kevin Lobo emphasized robust customer support during the cyber disruption and highlighted the company’s 2.1x gross debt‑to‑EBITDA position as providing ample M&A capacity, including continued progress on integrating Inari and active evaluation of future adjacencies such as soft‑tissue robotics.

Mastercard-MA entered 2026 with strong momentum, delivering a first quarter marked by broad‑based revenue gains, expanding profitability, and continued strength across its global payments ecosystem. Net revenue rose to $8.4 billion, a 16% increase from the prior year, supported by solid growth in the core payments network and exceptional performance in value‑added services. Payment network revenue grew 12%, while value‑added services and solutions expanded 22%, reflecting heightened demand for security, digital authentication, data insights and consumer engagement capabilities. Profitability improved meaningfully as well. Net income reached $3.9 billion, up 18%, and diluted EPS rose 21% to $4.35. Operating performance was similarly strong, with operating income increasing 18% and operating margins expanding year over year to 58.4%. Underlying business drivers remained healthy. Gross dollar volume rose 7% on a local‑currency basis to $2.7 trillion, cross‑border volume increased 13% and switched transactions grew 9%. These metrics underscore continued resilience in global consumer spending and digital transaction activity. Value‑added services growth was propelled by Mastercard’s expanding suite of security tools, digital identity and authentication solutions, data‑driven insights and customer engagement offerings, as well as pricing adjustments across several service lines. The company’s cash generation remained robust. Free cash flow increased 28% to $2.8 billion, enabling significant capital returns. Mastercard repurchased $4.0 billion in shares during the quarter and paid $777 million in dividends. Mastercard raised its full‑year 2026 revenue outlook, now expecting GAAP net revenue growth at the high end of low double digits to low teens. Operating expenses are projected to rise at the high end of high single digits on a GAAP basis. For the second quarter, the company expects low double‑digit GAAP revenue growth and operating expense growth in the high single digits.

Wednesday, April 29, 2026

Meta-META generated $56.3 billion in revenue in the first quarter of 2026, up 33% year over year, driven almost entirely by the strength of its Family of Apps (FoA).  Daily active users for March averaged 3.56 billion, a slight sequential decline from 3.58 billion in the prior quarter. The company blamed this on internet disruptions in Iran and restrictions on WhatsApp in Russia. FoA  advertising delivering $55.0 billion in revenue on the back of higher ad impressions, improved pricing and AI‑driven gains in conversion performance. Other FoA revenue rose 74% to $885 million, supported by WhatsApp paid messaging and subscriptions, while high‑growth ad products continued to scale rapidly, with the value optimization suite surpassing a $20 billion run rate and partnership ads reaching $10 billion, both doubling from last year. Reality Labs revenue totaled $402 million, a slight 2% decline, as softer Quest headset sales outweighed strong momentum in AI glasses, whose daily usage tripled year over year. Profitability also strengthened. Meta reported $26.8 billion in net income, up 61%, and diluted EPS of $10.44, up 62%, aided by an $8.03 billion one‑time tax benefit tied to updated R&D tax treatment. Excluding that benefit, adjusted net income was $18.7 billion and adjusted EPS was $7.31. Operating income rose 30% to $22.9 billion, the operating margin held steady at 41% and the tax benefit pushed the effective tax rate to –23% (or 14% without it). Despite a sharp increase in capital expenditures to $19.8 billion during the quarter, free cash flow grew 20% to $12.4 billion, and Meta returned $1.3 billion to shareholders through dividends. Looking ahead, Meta expects second‑quarter revenue of $58–$61 billion and continues to project full‑year expenses of $162–$169 billion, with operating income surpassing 2025 levels. The company raised its 2026 capital‑expenditure outlook to $125 billion–$145 billion to support higher component costs and expanded data‑center capacity, and it anticipates an effective tax rate of 13–16% for the remainder of the year. Strategically, Meta is pushing toward its vision of “personal superintelligence,” exploring new AI monetization models, scaling its recommendation systems with larger language models and preparing to expand its AI‑glasses lineup. Operationally, it plans further headcount reductions and is deploying more than a gigawatt of custom silicon to improve compute efficiency, while continuing to navigate global regulatory risks.

 

Alphabet-GOOGL reported impressive first-quarter results, showcasing robust growth across its diverse business segments. Revenues rose 22% to $109.9 billion, marking a significant increase. Net income and earnings per share saw even more substantial jumps, climbing 81% to $62.6 billion and 82% to $5.11, respectively. This strong performance was fueled by double-digit growth in key areas: Google Search, YouTube ads, and Google Cloud. Specifically, Google Services revenue rose by 16% to $89.6 billion, while Google Cloud demonstrated exceptional growth of 63%, with backlog nearly doubling quarter on quarter to over $460 billion. The company also demonstrated improved profitability, with total operating income increasing by 30% to $39.7 billion. This resulted in an expanded operating margin of 36%, up from 34%, driven by healthy revenue growth and a moderation in compensation expenses. Notably, other income reflected a net gain of $37.7 billion, primarily the result of net unrealized gains on non-marketable equity securities. This was Alphabet’s strongest quarter ever for consumer AI plans, driven by Gemini App. Overall the number of paid subscriptions has now reached 350 million, with YouTube and Google One being the key drivers. Gemini Enterprise has great momentum with 40% quarter on quarter growth in paid monthly active users. Alphabet expressed satisfaction with the progress of Waymo, its autonomous car service, which surpassed 500,000 fully autonomous rides a week. Alphabet expects full-year capital expenditures in the $180 to $190 billion range, up from previous estimate of $175 to $185 billion, to now include investment related to the acquisition of Intersect, which closed in March. Alphabet is seeing unprecedented internal and external demand for AI compute resources. The investments the company is making in AI are delivering strong growth, as evidenced by the record revenue and backlog growth in Google cloud and strong performance in Google Services. As a result, Alphabet expects 2027 capital expenditures to significantly increase compared to 2026. Operationally, Alphabet generated strong cash flow, with cash flow from operations jumping 26% to $45.8 billion. Free cash flow decreased by 46% to $10.1 billion, due to a 107% increase in capital expenditures. During the quarter, the company returned capital to shareholders through $2.5 billion in dividends. Alphabet's balance sheet remains robust, with over $233 billion in cash and investments, $77.5 billion in long-term debt, and $478.7 billion in shareholders' equity. This financial strength allowed the Board to announce a 5% increase in the dividend, payable on June 15, 2026.

Microsoft-MSFT reported fiscal third quarter revenues rose 18% to $82.9 billion with net income and EPS each booting up a 23% gain to $31.8 billion and $4.27, respectively.  These results exceeded the company’s expectations across revenue, operating income and earnings per share, reflecting strong execution and growing demand for Microsoft Cloud and AI strength. Microsoft Cloud revenue jumped 29% to $54.5 billion during the quarter with commercial remaining performance obligations increasing 99% to $627 billion. The company’s AI business surpassed an annual revenue run rate of $37 billion, up 123% year-over-year. Revenue in Productivity and Business Processes (Office 365, LinkedIn, Dynamics 365) increased 17% to $35 billion. Revenue in the Intelligent Cloud segment (Azure, SQL Server, Windows Server, Nuance) rose a lofty 30% to $34.7 billion, driven by 40% growth from Azure and other cloud services. Revenue in the More Personal Computing segment (Activision, Windows, Surface, Xbox) decreased 1% to $13.2 billion. Year-to-date operating cash flow jumped 36% to $127.5 billion with free cash flow increasing 3% to $47.3 billion as capital expenditures rose 69% to $80.1 billion.  Microsoft continues to invest to meet strong demand amid the expansive cloud and AI opportunity. For the calendar 2026 year, Microsoft expects capital expenditures to top $190 billion with the company confident in earning solid returns on these massive investments as demand continues to exceed supply, leading to accelerating growth. Year-to-date, Microsoft paid $19.7 billion in dividends and repurchased $17.7 billion of its common stock, ending the quarter with a strong balance sheet with more than $78 billion in cash and investments, $31.4 billion in long-term debt and $414.4 billion in shareholders’ equity. In the fourth fiscal quarter, Microsoft expects its total revenues to increase 13% to 15% to a range of $86.7 billion to $87.8 billion with operating margin expected to increase 100 basis points. In fiscal 2027, Microsoft expects another year of double-digit revenue growth and operating margin expansion.

 

Amazon-AMZN rang up a 17% jump in net sales to $181.5 billion with net income climbing nearly 77% to $30.3 billion and EPS up 75% to $1.59. First quarter net income includes pre-tax gains of $16.8 billion in non-operating income from its investment in Anthropic. North American segment sales increased 12% year-over-year to $104.1 billion, generating 7.9% operating margins.  International segment sales increased 11% excluding foreign exchange to $39.8 billion, generating a 3.6% operating margin. AWS sales jumped 28% to $37.6 billion generating operating margins of 30.6%.  AWS backlog stood at $364 billion at quarters’ end which does not include the recently announced $100 million Anthropic deal. “We’re making customers’ lives easier and better every day across all our businesses, and their response is driving significant growth,” said Andy Jassy, President and CEO, Amazon. “AWS is growing 28% (our fastest growth in 15 quarters) on a very large base, our chips business topped a $20 billion revenue run rate (growing triple digits year-over-year), Advertising grew to over $70 billion in TTM revenue, and unit growth in our Stores reached 15% (the highest since the tail end of covid lockdowns). We also hit exciting milestones with delivery speed (more than 1 billion items same-day or overnight in 2026 and counting), Project Hail Mary (nearly $615 million at the box office to date and the second most successful non-sequel, non-franchise opening of recent memory), and Amazon Leo continues to resonate with prospective customers, with Delta Airlines the latest to sign on. We’re in the middle of some of the biggest inflections of our lifetime, we’re well positioned to lead, and I’m very optimistic about what’s ahead for our customers and Amazon.” During the quarter, Amazon generated $26 billion in operating cash flow, up 53% from last year.  Amazon invested $44.2 billion in capital expenditures, primarily related to AI buildout, up more than 75% from last year, resulting in a $18.2 billion cash outflow. Amazon ended the quarter with $143.1 billion in cash and marketable securities, $119.1 billion in long-term debt and $441.9 billion in shareholders’ equity on its solid balance sheet.  Looking ahead to the second quarter, net sales are expected to be between $194.0 billion and $199.0 billion, up between 16% and 19%, with operating income between $20.0 billion and $24.0 billion, up 14.6% at the midpoint. This guidance assumes Prime Day occurs in second quarter 2026.

Cognizant Technology Solutions-CTSH reported first quarter revenue increased 5.8% to $5.4 billion with net income essentially flat at $662 million and EPS up 3.7% to $1.39 on fewer outstanding shares. The ramp of large deals in North America, strength in financial services and a strong performance in the U.K. drove first quarter sales as well as increased demand for the company’s Intelligent Operations and Automation (IOA), AI and analytics services on higher AI readiness and innovation budgets. Cognizant ended the quarter with well over 5,000 AI engagements across its three “vectors”— AI-led productivity, industrializing AI and “agentifying the enterprise” — up from about 4,000 exiting December.  Trailing twelve-month bookings jumped 11% to $29.6 billion, representing a book-to-bill of 1.4 times.  Bookings include a 21% surge in year-over-year bookings during the first quarter including seven large deals and one mega deal above $500 million.  Gross margin declined 80 basis points year-over-year on increased headcount growth including college graduates, higher costs tied to integrated offerings and the impact from Nov. 1 salary increases. Management announced Project Leap, its transformation program aimed at accelerating AI adoption, upskilling employees and improving margins, expected to deliver $200–$300 million in 2026 savings (with full benefits in 2027) which will incur $230–$320 million of primarily severance-related costs largely in 2026.  Cognizant expects to reinvest about two-thirds of Project Leap savings into growth priorities (integrated offerings, AI capabilities and partnerships) and about one-third toward workforce upskilling. During the first quarter, Cognizant generated $198 million in free cash flow, down 39% from last year on working capital changes. The company returned $603 million to shareholders through share repurchases of $444 million and dividend payments of $159 million, ending the quarter with $1.5 billion in cash and investments, $535 million in long-term debt and $15.1 billion in shareholders’ equity on its strong balance sheet. Management announced the $600 million acquisition of Astreya, an IT managed services provider specializing in AI infrastructure build-out and managing data center infrastructure, enterprise networks, and digital workplace technology.  For the full year, management expects revenue to increase 4.8% to 7.3% with adjusted EPS increasing in the 7% to 9% range. It expects to generate cash conversion in the 90% to 100% range and return $1.6 billion to shareholders through share repurchases of $1 billion and dividend payments of $600 million.

General Dynamics-GD delivered a strong start to 2026, reporting $13.5 billion in revenue, up 10.3% from the prior year and ahead of expectations. Net earnings rose 13.2% to $1.1 billion, and diluted EPS increased 12% to $4.10, supported by a steady 10.5% operating margin and broad‑based growth across all four business segments. The company ended the quarter with a record $130.8 billion backlog, up nearly 48% year over year, reflecting exceptionally strong order activity and a 2‑to‑1 book‑to‑bill ratio. Segment performance was uniformly solid. Aerospace delivered its highest-ever first‑quarter Gulfstream volumes and expanded margins. Marine Systems was the fastest-growing business, driven by accelerating work on the Columbia‑ and Virginia‑class submarine programs. Combat Systems benefited from strong international demand and continued munitions growth, while Technologies saw healthy momentum in mission systems, cyber, and AI‑aligned programs. Management described the quarter as “powerful in all respects,” citing improved execution and sustained demand across the portfolio. Cash generation was a standout. The company produced $1.95 billion in free cash flow, a sharp turnaround from last year’s outflow and equal to 174% of net earnings. This strength supported $405 million in dividends and $217 million in share repurchases, while also allowing the company to reduce net debt. Given the strong start, General Dynamics raised its full‑year EPS outlook to $16.45–$16.55 and expects Q1 and Q4 to be the strongest quarters. Management continues to anticipate 100% free‑cash‑flow conversion for the year, with potential upside, and remains confident in segment‑level momentum as shipbuilding throughput increases, Gulfstream deliveries ramp, and defense demand stays elevated.

Automatic Data Processing-ADP reported a strong fiscal third quarter with revenues increasing 7% to $5.9 billion, net earnings processing a 9% gain to $1.4 billion and EPS up 10% to $3.38. Interest on funds held for clients increased 14% to $404 million during the quarter as average client funds balances increased 9% to $48.3 billion with the average interest yield increasing 10 basis points to 3.3%. These results exceeded the company’s expectations. The Employer Services segment experienced solid new business bookings growth, which should grow by 4% to 7% for the year. ADP also set a new all-time high in client satisfaction and retention for the third quarter. The company is leveraging its 77-year history of data advantages, domain expertise and trusted brand to lead the industry through its AI transformation. Payroll must be 100% correct 100% of the time. The payroll process can’t simply be replaced by AI bots, so ADP’s payroll processing software is “alive and well.”  AI is adding new layers of complexity to its clients’ work, and ADP is well positioned to address workforce challenges across payroll and human resources as it scales its GenAI capabilities across its service operations. Free cash flow increased 16% year-to-date to $3.9 billion with the company paying $1.9 billion in dividends and repurchasing $1.5 billion of its stock. ADP has increased its dividend for 51 consecutive years and is elevating its share repurchase program thanks to its strong cash flows and the attractive valuation of its stock. Given strong year-to-date results, ADP raised its outlook for the full fiscal 2026 year with revenues expected to increase 6% to 7% and adjusted EPS expected to grow 10% to 11% on expanding profit margins. Client funds interest revenue should approximate $1.34 billion to $1.35 billion for the year.

Canadian National Railway-CNI reported first quarter revenues declined 1% to C$4.38 billion with net income decreasing 1% to C$1.15 billion and EPS up 1% to C$1.87. Revenue ton miles (RTMs) increased 3% to 61.8 billion driven by a 13% increase in grain and fertilizer RTMs. Operating performance improved meaningfully in the quarter, with higher network fluidity driving a 6% increase in car velocity and train speed, a 4% reduction in dwell and continued gains in productivity and asset utilization. During the quarter, Canadian National generated C$826 million in free cash flow, up 28% from last year on working capital efficiencies and lower capital expenditures. During the quarter, the railroad returned C$1.4 billion to shareholders through share repurchases of C$884 million and dividends of C$558 million. Canadian National ended the quarter with C$573 million in cash, C$20.4 billion in long-term debt and C$21.5 billion in shareholders’ equity on its solid balance sheet. For 2026, management expects earnings to grow faster than volume and expects that volume growth in terms of RTMs will be flattish. The company plans to invest approximately C$2.8 billion in its capital program, net of amounts reimbursed by customers. The company also expects to continue improving free cash flow conversion throughout 2026.

Tuesday,  April 28, 2026

Visa-V delivered a strong fiscal second quarter of 2026, with net revenue rising 17% to a record $11.2 billion, its fastest organic growth since 2022. Net income increased 32% to $6.0 billion and GAAP EPS grew 36% to $3.14. Management noted that consumer spending remains resilient across income levels and categories. Core business drivers were solid: payments volume grew 9%, cross‑border volume excluding intra‑Europe rose 11%, total cross‑border increased 12% and processed transactions were up 9%. Value‑added services continued to scale rapidly, now representing 30% of revenue and growing 27% in constant dollars, fueled by strong demand for fraud, risk and marketing services. Visa emphasized its evolution into a “hyperscaler of payments,” anchored by four growth engines: expanding value‑added services; AI‑driven “agentic commerce,” including a new developer‑focused command‑line payment interface; blockchain interoperability, with more than 160 stablecoin card programs and a $7 billion settlement run rate; and new flows, where revenue grew 24% and Visa Direct reached 18 billion endpoints. Strategic wins included Wells Fargo’s migration to Pismo’s cloud‑native core, acquisitions in Argentina and partnerships with TikTok and PayPay. Free cash flow declined 4% year‑to‑date due to higher capital expenditures, but Visa returned $11.7 billion in buybacks and $2.6 billion in dividends, including a record $7.9 billion repurchased this quarter. The board also approved a new $20 billion authorization. Visa raised full‑year guidance, expecting low‑double‑digit to low‑teens revenue and EPS growth. The third quarter is expected to be the slowest quarter due to incentives and tough comps, while geopolitical uncertainty continues to affect CEMEA travel. FIFA‑related marketing is expected to be a meaningful tailwind.

Despite headwinds associated with the Middle East conflict, Booking Holdings-BKNG reported solid first quarter results with revenues traveling 16% higher to $5.5 billion with net income and EPS more than tripling to $1.1 billion and $1.36, respectively. These results reflect the 25 for 1 stock split distributed on April 2, 2026.  On an adjusted basis, EPS increased 14%. These results were driven by a 6% increase in room nights to 338 million with gross bookings up 15% to $53.8 billion. Airline tickets grew 29% to 21 million.  In the U.S., growth accelerated for the fourth consecutive quarter to low-teens growth due to strong domestic demand as the company is gaining market share. Europe and Asia generated single-digit growth during the quarter while the rest of the world (primarily the Middle East) saw a single-digit decline given the geopolitical conflict in the region. Although the conflict impacted the quarter’s results, the company’s underlying performance exceeded expectations across all key metrics thanks to the resilient and enduring demand for travel. Free cash flow dipped 2% during the quarter to $3.1 billion with the company paying $343 million in dividends and repurchasing a record $3.8 billion of its common stock. In the past 12 years, Booking has reduced its share count by 40% through substantial share repurchases at an average price of $93 per share, thereby significantly increasing shareholder value. Booking has $18.2 billion remaining authorized for future share repurchases. Given the continued fluctuations in travel demand across the Middle East due to traveler sentiment and the sustained disruption of broader inflationary pressures on jet fuel prices and airline capacity, Booking lowered its outlook for the full fiscal year. Gross Bookings Growth is expected in the still respectable high-single digits to low double-digits range. Revenue growth is expected in the high-single digits range with adjusted EPS growth expected in the low to mid-teens range.  The expanding profit margins reflect the benefit of generative AI, which is driving growth and improving efficiencies for the company and its partners. Management stated emphatically, “AI is an absolute positive for Booking, not a threat.”

Monday, April 27, 2026

Accenture-ACN announced it has deployed Microsoft 365 Copilot to 100,000 employees, with plans to scale to roughly 200,000 users as part of a broader rollout to its global workforce of 743,000. Microsoft has described the initiative as the largest enterprise Copilot deployment to date. Early results show strong impact. In a survey of 200,000 users, 97% reported completing routine tasks up to 15 times faster, and 53% saw meaningful improvements in overall work efficiency. Among one group of 200,000 licensed users, monthly active usage reached 89%, and 84% said they would “deeply miss” Copilot if it were removed.

Corpay-CPY reaffirmed its first‑quarter guidance, maintaining expectations for approximately 9% organic revenue growth at the midpoint and over 20% growth in adjusted EPS. The company continues to anticipate a strong acceleration throughout the year, driven by rising organic revenue and the realization of planned deal synergies.

Microsoft-MSFT announced an amended agreement marking the next phase of its partnership with OpenAI, designed to bring greater flexibility, clarity, and long‑term stability to how the two companies collaborate on AI. Under the updated terms, Microsoft remains OpenAI’s primary cloud partner, with OpenAI products continuing to launch first on Azure unless specific capabilities cannot be supported. OpenAI now has the ability to offer its products across any cloud provider. Microsoft will retain a non‑exclusive license to OpenAI’s IP through 2032. The company will no longer pay revenue share to OpenAI, while revenue‑share payments from OpenAI to Microsoft will continue through 2030 at the same percentage but with a total cap. Microsoft also maintains its position as a major shareholder, continuing to participate directly in OpenAI’s growth. Despite simplifying the commercial structure, both companies emphasized that their joint work remains expansive—from scaling massive datacenter capacity to collaborating on next‑generation silicon and advancing AI‑driven cybersecurity.

Johnson & Johnson-JNJ is using AI to cut in half the time needed to generate new drug-development leads, CIO Jim Swanson said at the Reuters Momentum AI event. While AI can’t yet discover and bring entirely new drugs to market, it is helping J&J rapidly screen vast sets of potential chemical and biological compounds. “We’ve cut our lead‑optimization time in half,” Swanson said, noting that the company is focusing its AI efforts on core areas such as product development, drug discovery and supply‑chain efficiency. He emphasized the stakes: “We’re trying to cure cancer. We need every tool we can leverage.” AI is also improving manufacturing by optimizing steps like solvent‑addition timing and temperature. In regulatory work, the technology has dramatically reduced the time required to prepare clinical‑trial reports, dropping from 700–900 hours to about 15 minutes. Swanson stressed that AI is augmenting employees rather than replacing them. With roughly 4,000 IT staff, he said roles are expanding: “These are ‘and’ skills, not ‘or’ skills.”

Friday, April 24, 2026

Erie Indemnity-ERIE reported first quarter revenues increased 2.3% to $1.01 billion with net income and EPS increasing 8.7% to $150.5 million and $2.88, respectively. Management fee revenue for policy issuance and renewal services increased 4.2% to $786.4 million and administrative services reimbursed declined 3.7% to $219.6 million.  Premiums written by the Exchange of $3.2 billion, which drive management fee revenues, increased 3.6% from last year’s first quarter on increased homeowners, commercial multi-peril and commercial auto premiums written. Premiums generated from new business decreased 9.5% to $345 million, primarily driven by decreased premiums written in the commercial multi-peril and personal auto lines. Contributing to this change was a 10.4% decrease in new business policies written, partially offset by a 4.5% increase in year-over-year average premium per policy on new business. Premiums generated from renewal business increased 5.4% to $2.9 billion in the first quarter, resulting from an increase of 8.7% in year-over-year average premium per policy, as well as an increase in year-over-year policies in force of 1.0%. The Exchange plans to continue its efforts to grow premiums and improve its competitive position in the marketplace.  Net investment income increased 18% to $23.6 million, boosted by an increase in bond income on higher average holdings and yields. During the first quarter of 2026, Erie Indemnity generated $91.9 million in operating cash flow, down 22% from last year, primarily due to an increase in incentive compensation paid to agents from improved underwriting profitability. Free cash flow declined by 38% to $54.5 million on a 38% jump in capital expenditures to modernize the company’s technology platform as the company focuses on embedding artificial intelligence across the organization from underwriting to claims. Over the past year, the company moved from early experimentation to scaled deployment of secure tools, including ChatGPT Enterprise.  During the first quarter, Erie Indemnity returned $68.1 million to shareholders through dividend payments and $2.1 million through share repurchases at an average cost per share of $273.38, leaving $17.6 million remaining under the current share repurchase authorization. Erie ended the quarter with $268.6 million in cash, $1.5 billion in investments, no long-term debt and $2.4 billion in shareholders’ equity on its pristine balance sheet.  

Procter & Gamble-PG delivered a solid third quarter, outperforming expectations with net sales up 7% to $21.2 billion, net income rising 4% to $3.9 billion and diluted EPS increasing 6% to $1.63. Growth was fueled by a 2% increase in volume, modest pricing gains, broad‑based category and regional strength and a one‑time gain from the dissolution of the Glad joint venture. Core EPS grew 3%, supported by strong productivity execution that helped offset unfavorable mix and higher investments in innovation and demand creation. All ten product categories and all seven global regions posted organic sales growth, underscoring the resilience of P&G’s diversified portfolio. Free cash flow rose 11% to $11 billion, enabling the company to return significant cash to shareholders: $7.6 billion in dividends and $4.2 billion in share repurchases through the first nine months of the fiscal year. Management reaffirmed its fiscal 2026 outlook, including 1–5% all‑in sales growth, up to 4% organic sales growth, and 1–6% EPS growth, along with plans to return roughly $10 billion in dividends and $5 billion in buybacks for the full year. While P&G acknowledged external pressures—about $150 million in after‑tax costs tied to the Middle East conflict and roughly $400 million in tariff‑related costs for FY26—the company emphasized its strong productivity pipeline, sustained consumer demand and continued investment in innovation. Together, these factors position P&G to navigate near‑term volatility while maintaining momentum and delivering long‑term value for shareholders.

Gentex-GNTX reported first quarter revenues jumped 17% to $675.4 million with net income up 4% to $98.5 million and EPS motoring 10% higher to $.46. The topline growth reflects the acquisition of VOXX International, which contributed $88.6 million to revenues during the quarter. VOXX revenue was 9% higher than expected due to strong performance in the Premium Audio segment of the business. One year after the close of the VOXX acquisition, the integration is going well with the VOXX business now achieving profitability. Core Gentex revenues increased 2%, despite light vehicle production declining 3% during the quarter, driven by expanding electronic content and new technologies in its products. Gentex’s core gross margin improved 80 basis points to 33.8% thanks to operational efficiencies and favorable product mix partially offset by tariff headwinds and commodity pricing. Free cash flow rose 7% during the quarter to $120.1 million as capital expenditure declined. During the quarter, the company repurchased 3.3 million of its shares at an average price of $22.01 per share for a total of $71.6 million. The company has approximately 32.6 million shares remaining authorized for repurchase. Gentex expects to continue its share repurchases as management thinks the “stock is definitely undervalued.” Gentex increased its outlook for 2026 and 2027 revenues to approximately $2.7 billion and $2.85 billion, respectively.

Kinsale Capital Group-KNSL reported first quarter revenues increased 10% to $466.7 million with net income increasing 26% to $112.6 million and EPS up 27% to $4.88. Net operating earnings — considered a more useful metric to measure underlying company performance than net income — jumped 36% to $117.8 million, or $5.11 per share. Gross written premiums dipped 0.5% to $482.0 million, primarily due to a 28.3% decline in the Commercial Property Division, one of the company’s largest divisions, driven by continued rate decreases from heightened competition, including from standard carriers. Excluding the Commercial Property Division, gross written premiums increased 6.0%, reflecting continued strong submission flow across most divisions.  Excess & Supply insurance market conditions in the first quarter continued to be competitive, with the level of competition and Kinsale’s growth rate varying from one market segment to another. Net written premiums increased 5.6% to $403.3 million, primarily due to an increase in retention on the company's reinsurance treaties effective with the June 2025 renewal. Underwriting income jumped 40% to $94.5 million, resulting in a combined ratio of 77.4% for the first quarter of 2026, compared to a combined ratio of 82.1% for the same period last year. The increase in underwriting income was largely due to growth in net earned premiums, lower catastrophe losses and higher favorable development of loss reserves from prior accident years. Net investment income increased 26.5% to $55.4 million, driven by growth in the company's investment portfolio generated largely from the investment of strong operating cash flows. Kinsale delivered a 4.5% annualized return on its investment portfolio compared to 4.3% last year. Funds are generally invested conservatively in high-quality securities with an average credit quality of "AA-" and the weighted average duration of the fixed-maturity investment portfolio, including cash equivalents, was 4.1 years. Kinsale’s float, Kinsale’s cost-free pool of capital generated from premiums collected before claims are paid, increased 4.6% to $3.26 billion. During the quarter, Kinsale generated $241.3 million in free cash flow, up 11% from last year, with the company returning $68.3 million to shareholders through dividend payments of $5.8 million and share repurchases of $62.5 million. Kinsale ended the quarter with $223.3 million in cash, $224.4 million in long-term debt and $1.87 billion in shareholders’ equity on its pristine balance sheet. "Our first quarter results demonstrate exceptional profitability," said Chairman, President and Chief Executive Officer, Michael P. Kehoe. "We have confidence in our strategy of underwriting discipline and maintaining structurally low costs. Particularly in a competitive market, we remain focused on delivering long-term stockholder value throughout the market cycle by generating consistent and attractive underwriting profits while managing our capital prudently." In addition, “We continue to work on technology innovation, including extensive use of AI models to drive automation in our business process, especially underwriting and claim handling, and throughout our software development and analytics teams. This innovation is improving efficiency, customer service, accuracy, and data collection across our business, and we have begun incorporating various AI agents into our enterprise system. With the talent of our technology professionals and our bespoke enterprise system and the lack of any legacy software, we are well-positioned to expand our tech lead to the benefit of both profitability and growth.”

Wednesday, April 22,2026

Adobe-ADBE announced that its board of directors has approved a new $25 billion stock repurchase program, authorizing the company to buy back shares through April 30, 2030. The program is intended to return value to shareholders, offset dilution from stock issuances and reduce the company’s overall share count. Adobe may repurchase shares on the open market and through structured agreements with third parties.

Alphabet-GOOGL announced a sweeping series of new and expanded Google Cloud partnerships as enterprises accelerate adoption of Gemini‑powered agentic AI. Leading global consultancies—including Accenture and Cognizant—launched major AI transformation programs built on Gemini Enterprise to help organizations scale automation, modernize operations and unlock new business value. Consumer and industrial leaders such as PepsiCo, Mars, GE Appliances and Ulta Beauty unveiled multi‑year collaborations to strengthen digital foundations and deploy AI agents that enhance decision‑making, customer engagement and productivity. Technology providers also expanded integrations to bring secure, end‑to‑end AI capabilities to enterprise data and workflows. Across sectors—from healthcare and financial services to retail, supply chain and public sector—companies are standardizing on Google Cloud’s AI infrastructure and agentic platforms to accelerate innovation and drive measurable outcomes at scale. Alphabet reaffirmed its capital expenditure plans of  $175 billion to $185 billion for 2026.

 

NVIDIA-NVDA and Google Cloud-GOOGL announced a major expansion of their long‑standing AI partnership, introducing new infrastructure designed to make advanced AI development faster, more efficient and more accessible for customers. At Google Cloud Next, the companies unveiled Google’s new A5X AI infrastructure powered by NVIDIA’s latest Rubin platform, which dramatically improves performance and reduces the cost of running large‑scale AI models. The collaboration allows Google Cloud to support clusters of tens of thousands of NVIDIA GPUs, giving enterprises the capacity to train and deploy their most demanding AI systems. Google Cloud leaders emphasized that combining Google’s scalable cloud services with NVIDIA’s industry‑leading AI technology will help customers build and run everything from frontier models to next‑generation AI agents with better speed, flexibility and sustainability. Google also expanded its lineup of NVIDIA‑powered offerings, giving organizations more choice in how they adopt and scale AI across their businesses.

Tuesday, April 21, 2026

Tractor Supply-TSCO opened fiscal 2026 with steady top‑line growth supported by new store expansion and continued digital momentum, even as profitability and cash flow came under pressure from higher costs and elevated investment levels. Net sales rose 3.6% to $3.59 billion, driven by a record 40 new store openings and strong double‑digit e‑commerce growth. Comparable store sales increased 0.5%, modestly below expectations due to softness in the companion animal category. Average ticket grew 1.6%, while transactions declined 1.0% as customers consolidated trips and remained value‑focused. Net income fell 8.3% to $164.5 million, reflecting lower operating income and a higher tax rate. Diluted EPS declined 7.2% to $0.31. SG&A expenses rose 6.1%, driven by deleverage on softer comps, accelerated store openings and continued strategic investments. Cash flow from operations declined significantly to $91.1 million from $216.8 million a year earlier, largely due to a substantial increase in inventory investment tied to new store openings, inflation, tariff impacts and the timing of spring seasonal purchases. Capital expenditures rose sharply to $202.6 million from $141.3 million, reflecting the company’s stepped‑up investment cycle. Spending increased across new store openings, supply chain expansion, existing store remodels and technology initiatives supporting digital growth and the Final Mile delivery network. Operationally, six of seven regions delivered positive comps, with rural stores outperforming urban markets. More than 200 localized stores continued to outperform the broader fleet. Tractor Supply ended the quarter with 2,435 stores and returned $118 million in share repurchases and $126 million in dividends. Management reaffirmed its full‑year outlook, expressing confidence in stronger performance later in the year. The company expects net sales growth of 4% to 6% and anticipates diluted EPS between $2.13 and $2.23.

RTX-RTX reported first quarter sales rose 9% to $22.1 billion with net income jumping 34% to $2.06 billion and EPS up 32% to $1.51. Excluding acquisition accounting adjustments and other special items, adjusted EPS increased 21% to $1.78, powered by growth in segment operating profit across all three business segments and lower interest and tax expense. Backlog grew by 25% resulting in a book-to-bill ratio of 1.14. By business segment, Collins Aerospace sales increased 5% to $7.6 billion, powered by a 15% rise in commercial OE sales, a 7% increase in commercial aftermarket sales and a 9% increase in defense sales. Adjusted segment operating margin expanded by 6% resulting in a 17.1% adjusted operating margin. Pratt & Whitney sales increased 11% to $8.2 billion, powered by a 19% jump in commercial aftermarket sales and a 7% increase in military sales, partially offset by a 1% decline in commercial OE. Adjusted operating margins jumped 21% resulting in an 8.7% adjusted operating margin for the segment. Raytheon segment sales increased 10% to $6.9 billion on higher land and air defense systems and naval munitions volume. Adjusted operating margin rose 25% resulting in a 12.2% adjusted operating margin for the segment. During the first quarter, Raytheon generated $1.3 billion in free cash flow, up 65% from last year, boosted by the jump in net income, with the company returning $915.0 million to shareholders through dividend payments. Raytheon ended the quarter with $6.8 billion in cash, $33.0 billion in long-term debt and $66.3 billion in shareholders’ equity on its mighty balance sheet. Given first quarter results and the strength in its defense business, management raised its full-year outlook for adjusted sales and EPS while maintaining its free cash flow outlook. Adjusted sales are now expected in the $92.5 billion to $93.5 billion range, representing organic sales growth of 5% to 6% with adjusted EPS expected in the $6.70 to $6.90 range, up 8% from last year at the midpoint. RTX expects to generate $8.25 billion to $8.75 billion in free cash flow during 2026.

Amazon-AMZN announced a major expansion of its partnership with Anthropic, investing an additional $5 billion—with the potential for up to $20 billion more tied to future milestones—to accelerate the development and deployment of advanced AI systems. The deepened collaboration includes Anthropic securing up to 5 gigawatts of Amazon’s Trainium AI chips and committing over $100 billion in spending on AWS technologies over the next decade, reinforcing AWS as its primary cloud and training provider. With more than 100,000 customers already running Claude models on AWS, the companies aim to scale global access to Anthropic’s Claude platform, advance frontier AI research and build some of the world’s largest AI compute clusters, marking a significant step forward in responsible, high‑performance AI innovation.

Genuine Parts-GPC reported first quarter revenues rose 7% to $6.3 billion with net income declining 3% to $188.5 million and EPS dipping 2% to $1.37. Gross margin improved 20 basis points to 37.3% with adjusted EPS up 1% to $1.77. First quarter results include $56 million, or $.40 per share, related to costs associated with the company’s global restructuring initiatives and the planned separation of the company’s Global Automotive and Global Industrial businesses. The separation is expected to be completed in the first quarter of 2027 and result in $100 million to $150 million in costs. North America Automotive sales were $2.4 billion up 4% from the prior year period. Industrial Automotive sales were $1.6 billion up, 13% and Industrial Parts sales were $2.3 billion, up 5%. While the company overall did not have a material impact from the conflict in Iran during the first quarter, the company’s business in Australia is facing the challenges of low oil supplies, higher oil prices, higher interest rates and lower consumer confidence. Free cash flow was a deficit of $34 million during the first quarter due to continued investments in the business outweighing cash from operations which is seasonally lower in the first quarter. During the quarter, the company paid $141.7 million in dividends, a 3% increase from 2025 and the 70^th consecutive year of dividend increases. Genuine Parts reaffirmed its sales and earnings outlook for 2026 with sales expected to increase 3% to 5.5% for the year generating EPS in the range of $6.10 to $6.60. On an adjusted basis, EPS is expected to increase 2% to 9% to a range of $7.50-$8.00 with cash from operations expected in the range of $1.0 billion to $1.2 billion.

Apple-AAPL announced that Tim Cook will step down as CEO on September 1, 2026, transitioning into a new role as executive chairman while longtime hardware leader John Ternus becomes the company’s next chief executive. The move follows years of succession planning and comes with strong praise from Apple’s board, which highlighted Cook’s transformative tenure—marked by major product introductions, massive global expansion, and a rise in market value from roughly $350 billion to $4 trillion. Ternus, a 25-year Apple veteran who has overseen hardware engineering across nearly every major product line, expressed gratitude for the opportunity and emphasized his commitment to Apple’s values and future innovation. Arthur Levinson will shift from non‑executive chairman to lead independent director as part of the leadership transition.

Monday, April 20, 2026

RTX-RTX is designated as one of the principal contractors for the U.S. Department of State’s approval of a potential Foreign Military Sale to the Government of Germany for an Integrated Combat System, associated equipment, and support services. The estimated value of the proposed contract is $11.9 billion. The sale is intended to advance U.S. foreign policy and national security objectives by strengthening the defense capabilities of Germany, a key NATO Ally and a contributor to stability and economic progress in Europe. The Integrated Combat System is expected to enhance Germany’s maritime readiness, bolster national and territorial defense, and improve interoperability with U.S. and NATO forces.

NVIDIA-NVDA announced the release of a new blog, “Autonomous AI at Scale: Adobe Agents Unlock Breakthrough Creative Intelligence With NVIDIA and WPP,” highlighting how agentic AI is transforming creative and marketing operations across industries. The post emphasizes Adobe’s-ADBE central role in this advancement, detailing how NVIDIA’s expanded strategic collaboration with Adobe — alongside WPP — is bringing autonomous AI agents directly into enterprise marketing workflows. By combining Adobe’s industry leading creative tools with NVIDIA’s accelerated computing and AI platforms, the companies are enabling intelligent systems that can plan, create, produce and activate content continuously while maintaining governance, control and brand integrity. As demand for personalized customer experiences accelerates, the collaboration aims to help brands generate and deliver tailored content on an unprecedented scale. The blog illustrates how a global retailer, for example, could deliver the right offer, image, copy and price across millions of product, audience and channel combinations in minutes instead of months. For marketing and creative teams, these capabilities support a shift from one size fits all campaigns to always on, highly relevant experiences powered by autonomous AI agents built on Adobe and NVIDIA technologies.

Adobe-ADBE introduced Adobe CX Enterprise, a new end to end agentic AI system designed to streamline the entire customer lifecycle, backed by decades of Adobe expertise and trusted by more than 20,000 global brands. As part of this launch, Adobe expanded its agentic ecosystem through deeper collaborations with leading AI platforms—including AWS, Anthropic, Google Cloud, IBM, Microsoft, NVIDIA and OpenAI—as well as major global agencies and system integrators to scale AI powered workflows across the enterprise. Adobe also announced significant updates to Adobe GenStudio, adding new agent-driven capabilities for cross team collaboration, campaign brief creation, automated creative production and advanced 3D digital twin workflows developed with NVIDIA. Additionally, Adobe unveiled Adobe CX Enterprise Coworker, bringing agentic AI directly into customer experience orchestration to help organizations unify content, data, decisioning and activation as they work to deliver more personalized experiences with greater efficiency.

Thursday, April 16, 2026

PepsiCo-PEP delivered a strong first quarter, with net revenue rising 8.5% to $19.4 billion. Growth reflected a 3.4‑percentage‑point benefit from foreign exchange, 2.6% organic revenue growth and a 2.5‑percentage‑point contribution from acquisitions and divestitures. In North America, both the Foods and Beverages divisions posted a sequential acceleration in reported and organic revenue growth. PepsiCo Foods returned to volume growth, supported by innovation and affordability initiatives that are beginning to gain traction. PepsiCo Beverages also saw improving volume trends, both sequentially and compared with the prior year. Internationally, performance remained strong across all segments, each of which delivered a sequential acceleration in net revenue growth. Organic revenue growth was supported by solid results in Asia Pacific Foods, Europe, the Middle East and Africa and the International Beverages Franchise, while Latin America Foods continued to demonstrate resilience. Operating profit increased, supported by productivity initiatives, revenue growth and favorable foreign exchange, partially offset by higher operating costs. Margin performance also benefited from mark‑to‑market gains on commodity derivatives and the net impact of acquisition‑ and divestiture‑related items. Net income and EPS both increased 27% to $2.3 billion and $1.70, respectively, driven primarily by operating profit growth. The company returned $2.0 billion in dividends to shareholders during the quarter and repurchased $182 million of shares. Management also confirmed the previously announced 4% increase in the annualized dividend, marking PepsiCo’s 54th consecutive annual dividend increase. PepsiCo delivered a meaningful improvement in cash generation as well. Free cash flow returned to positive territory, representing a $1.13 billion year‑over‑year improvement from the prior‑year quarter. Management indicated that while the company expects only marginal inflation this year, it has multiple levers in place to navigate the cost environment. Leadership emphasized three primary strategies: growing through inflation, driving productivity gains and optimizing price‑pack architecture. Together, these initiatives position the company to mitigate inflationary pressures over the next year. The company also noted that the ongoing geopolitical conflict has had no observable impact on demand, with consumer behavior remaining stable across key markets. Management highlighted several competitive advantages that support resilience in a volatile environment. These include PepsiCo’s global scale, which provides purchasing power and operational flexibility; hedging programs that cover the next 12–18 months, reducing exposure to commodity volatility; and the deep experience of senior leadership, which the company views as a strategic asset in navigating periods of turbulence. The company reaffirmed its fiscal 2026 guidance, including organic revenue growth of 2% to 4%, core constant‑currency EPS growth of 4% to 6%, a core effective tax rate of approximately 22% and capital spending below 5% of net revenue. PepsiCo continues to expect free cash flow conversion of at least 80% and plans to return approximately $8.9 billion to shareholders, consisting of $7.9 billion in dividends and $1.0 billion in share repurchases.

Tuesday, April 14, 2026

Johnson & Johnson-JNJ reported sales of $24.1 billion, up a healthy 9.9%, or 6.4% operationally, with net income dropping 52% to $5.24 billion and EPS down 53% to $2.14. Excluding the $7.0 billion talc reserve reversal in last year’s first quarter and other one-time items, adjusted net earnings dipped 1.5% to $6.6 billion and EPS declined 2.5% to $2.70.  Higher expenses related to the launch of new medicines, tariffs, China’s new procurement program and higher interest expense pressured first quarter earnings. Worldwide Innovative Medicines sales increased 11.2%, or 7.4% operationally, to $15.4 billion despite a 920-basis point headwind from a steep drop in sales of its blockbuster autoimmune drug Stelara on biosimilar competition. Strong demand for cancer drug Darzalex and psoriasis treatment Tremfya along with robust performance from newer launches in oncology, immunology and neuroscience drove sales growth. Worldwide MedTech sales increased 7.7%, or 4.6% operationally, to $8.6 billion, driven by continued adoption of Abiomed and Shockwave technologies in the cardiovascular market and new product launches in Europe and the U.S. Johnson & Johnson boasts of 28 products and platforms generating $1.0 billion or more in annual sales to drive future sales that are expected to grow at a double-digit rates by the end of the decade. During the first quarter, JNJ generated about $1.5 billion in free cash flow, invested $3.5 billion in R&D and paid $3.1 billion in shareholder dividends. In response to Trump administration policies, Johnson & Johnson has committed to invest $55.0 billion domestically through 2029. The company has completed $12.0 billion of that commitment with new plants slated for North Carolina and Pennsylvania that are expected to create 10,000 new jobs. Management expects to generate $21.0 billion in free cash flow during 2026.  Underscoring the company’s commitment to delivering consistent value to shareholders, JNJ raised its dividend by 3.1% in April to $5.36 per share, marking the 64^th consecutive year of dividend increases. Johnson and Johnson ended the quarter with $22.2 billion in cash and investments and $55.0 billion in debt on its AAA-rated balance sheet. Given the strong start to 2026 and its portfolio and pipeline advancements, management raised its guidance for 2026 with sales now expected in the $100.3 billion to $101.3 billion range, up 7.0% at the midpoint, with adjusted EPS in the $11.45 to $11.65 range, up 7.1% at the midpoint.

RTX-RTX announced it has signed a $3.7 billion contract to supply Patriot GEM‑T interceptors for Ukraine, a major step toward strengthening the country’s air and missile defense capabilities. Production for this order will be supported by the new GEM‑T manufacturing facility in Schrobenhausen, Germany, which is operated by COMLOG, a joint venture between Raytheon and MBDA Deutschland. The site is expected to play a central role in ensuring supply‑chain resiliency, fulfilling this direct commercial sale, and helping replenish Ukraine’s interceptor inventory.

   

Amazon-AMZN announced that they have entered into a definitive merger agreement under which Amazon will acquire Globalstar, enabling Amazon’s Leo satellite network to add direct‑to‑device services and extend cellular connectivity far beyond the reach of terrestrial networks. As part of the news, Amazon and Apple-AAPL also revealed a new agreement that will allow Amazon Leo to power satellite capabilities for current and future iPhone and Apple Watch models, including Emergency SOS via satellite. The transaction—valued at up to $90 per Globalstar share in cash or Amazon stock, subject to proration and potential adjustments—has already received written consent from holders of approximately 58% of Globalstar’s voting power and is expected to close in 2027 pending regulatory approvals and key satellite milestones. Beginning in 2028, Amazon Leo will deploy its next‑generation D2D system to deliver advanced voice, data, and messaging services, forming a unified network of thousands of low Earth orbit satellites capable of supporting hundreds of millions of devices worldwide, while continuing to collaborate with Apple on future satellite‑enabled features.

Broadridge Financial Solutions-BR is transforming how the world’s biggest banks move money, reporting that its digital Distributed Ledger Repo (DLR) platform handled a record-breaking $8 trillion in transactions this March. As traditional finance shifts toward more modern digital systems, the platform saw daily activity jump a remarkable 392% compared to last year, proving that major financial institutions are moving away from slower, paper-based processes in favor of instant, "tokenized" trading. This technology allows banks to be much more efficient with their cash, potentially reducing the liquidity buffer requirements by 8–17%. By turning complex financial trades into digital assets that move instantly, Broadridge is setting a new standard for a faster, more reliable global economy.

In his latest annual letter to shareholders, Amazon-AMZN CEO Andy Jassy offers a candid look at the company’s "squiggly line" path to growth, arguing that long-term success requires a fundamental rejection of linear progress. Using the 2025 fiscal year as a backdrop, Jassy outlines a bold roadmap for the future, centered on a massive $200 billion capital investment in AI infrastructure and custom silicon that signals Amazon’s intent to lead the next great technological inflection. From the rapid scaling of the Amazon Leo satellite network to the AI-driven "re-wiring" of Alexa and the retail experience, the letter serves as both a strategic manifesto and a defense of high-conviction spending. For investors, Jassy’s message is clear: Amazon is operating like "the world’s biggest startup," willing to endure short-term free cash flow headwinds to secure a dominant, multi-decade lead in AI, robotics, and global logistics. You can find the whole letter here.

       

Thursday, Feb. 19, 2026

Texas Roadhouse-TXRH delivered record-breaking top-line results in fiscal 2025, generating $5.9 billion in total revenue. This 9.4% annual increase was underpinned by a 4.9% rise in comparable restaurant sales, marking the brand’s 60th consecutive quarter of growth (excluding 2020 disruptions). While fourth-quarter revenue grew 3.1% to $1.48 billion, the figure was suppressed by 2024’s 14-week "extra week," which created a 9% drag on reported growth. On a normalized basis, the quarter remained healthy with a 4.2% increase in comparable sales driven by both rising guest traffic and higher average checks. Despite robust sales, the bottom line faced significant pressure. Fourth-quarter net income fell 26.9% to $84.6 million, with diluted EPS dropping 26.1% to $1.28. Full-year net income declined 6.5% to $405.6 million, while EPS finished at $6.10, a 5.8% decline. The company’s return on shareholders’ equity for the year was still a beefy 27.8%.  This contraction was largely due to the "53rd week" comparison, as well as 9.5% commodity inflation driven by a tight cattle cycle and surging beef costs. Higher labor expenses and depreciation from aggressive technology and development rollouts also weighed on margins. Nevertheless, the company still achieved the second-highest annual net income and EPS in its history. This resilience was reflected across the portfolio, with the flagship Texas Roadhouse brand reaching a record average unit volume (AUV) exceeding $8.4 million, while Bubba’s 33 and Jaggers continued to scale their footprints. The company’s cash management and efficiency metrics mirrored this period of heavy internal investment. Free cash flow declined 14.3% to approximately $342 million as capital expenditures rose to $388 million. These funds supported the opening of 28 new restaurants, the purchase of the Louisville headquarters and a nationwide digital kitchen rollout.  Despite this pivot toward growth-oriented spending, Texas Roadhouse maintained a disciplined capital allocation strategy, returning $330.3 million to investors in 2025 through $180.3 million in dividends and $150.0 million in share repurchases. For 2026, the company increased its dividend a meaty 10% to $3.00 per share on an annualized basis.  Looking ahead to 2026, momentum has accelerated significantly, with comparable sales for the first seven weeks of the year surging 8.2%. To protect margins against persistent beef inflation, which management expects to peak in the second quarter of 2026 at high single-digits, the company plans a 1.9% menu price increase in April. Beyond pricing, the company is doubling down on operational efficiency by expanding a handheld server tablet pilot and utilizing its fully-rolled-out digital kitchens to drive to-go volumes without pursuing third-party delivery. For 2026 growth, the company is targeting approximately 35 new locations, with a specific focus on a more profitable Bubba’s 33 model that utilizes conversions and new prototypes to cut build costs by over $500,000 per unit. While G&A expenses are forecasted to rise by a low double-digit percentage due to incentive-based compensation, these strategic shifts in technology and construction are designed to maintain the brand's value proposition while navigating the peak of the current inflationary cycle.

Wednesday, Feb. 18, 2026

Booking Holdings-BKNG reported fourth quarter gross bookings and revenues each rose 16% (11% on a constant currency basis) to $43.0 billion and $6.3 billion, respectively. Room nights increased 9% to 285 million during the fourth quarter with accelerating room night growth reported each quarter of the year. Fourth quarter net income soared 34% to $1.4 billion and EPS traveled 38% higher to $44.22. On an adjusted basis, EPS increased 17%. For the full year, gross bookings increased 12% to $186.1 billion with revenues up 13% to $26.9 billion. Net income declined 8% to $5.4 billion with EPS dipping 4% to $166.57, reflecting a discrete tax item. On an adjusted basis, EPS was up 22% for the year thanks to expanding operating margins. During the year, free cash flow jumped 15% to $9.1 billion with the company paying $1.2 billion in dividends and repurchasing $6.4 billion of its stock. Since early 2022, following the pandemic, the company has repurchased $29 billion of its stock, reducing its shares outstanding by 22%. The company has $21.8 billion authorized for future share repurchases. Thanks to continued confidence in the company’s strong cash flow, the company announced a 9.4% increase in its quarterly dividend to $10.50 per share. The Board of Directors also authorized a 25-for-1 stock split, with a record date of April 2, 2026. Booking Holdings has been using AI for decades. Generative AI is a huge opportunity for the company to continue to increase its pace of innovation as accelerating change across both technology and travel will make travel easier for everyone. In 2025, Booking rolled out gen-AI capabilities across brands (natural-language trip planning, smarter filters and summaries, AI agents for service, and voice) first in accommodations and then into other verticals, with a focus on measurable outcomes for travelers, partners, and the business. The company is focused on increasing value, personalization and ease of use of its products and services for its customers. The company’s Connected Trips, which includes multiple bookings for the same trip of hotels, flights and/or cars, saw transactions increase in the high 20% range last year.  The company booked 68 million airline tickets last year, a 37% increase, for $16.8 billion in total bookings. The company’s Genius Loyalty program is offered in 200 countries and rewards travelers with free breakfasts, room upgrades, etc. and has led to 50% of the room nights booked at its partner’s hotels, which increased 8% for the year to 1.2 billion room nights. Booking sees further opportunity to enhance Genius in 2026 to deepen loyalty and partner value.  Booking continues to see attractive growth opportunities in Asia with its business gaining market share and room nights expected to grow at a low double-digit rate. Management highlighted a strong supplier value proposition, particularly for independent properties (which drive the vast majority of room nights), citing capabilities in performance marketing, data insights, payments (over 100 payment methods and 50+ currencies), advertising, and 24/7 multilingual customer service as differentiators that are hard for partners to replicate. With travel demand remaining resilient across geographies, Booking’s outlook for 2026 is for double-digit growth in gross bookings and revenues with expanding profit margins leading to mid-teens adjusted EPS growth.  

NVIDIA-NVDA has significantly deepened its long-term partnership with Meta Platforms-META, marking a strategic shift toward full-stack AI infrastructure integration through the upcoming Vera Rubin platform. This multi-generational collaboration features the first large-scale deployment of NVIDIA’s Grace CPUs alongside Spectrum-X Ethernet networking and advanced GPUs. A pivotal component of the deal is Meta’s adoption of rack-scale Confidential Computing—initially for WhatsApp private processing—which highlights NVIDIA's evolution from a chipmaker to a comprehensive systems provider. While Meta continues to explore internal silicon projects, this "extreme co-design" initiative reinforces NVIDIA's competitive edge in delivering highly optimized, large-scale AI solutions for the world's leading hyperscalers.

In a regulatory filing, Berkshire Hathaway-BRKB disclosed that in the fourth quarter of 2025, it cut its position in Amazon by 80% to 2.3 million shares. Berkshire also trimmed its stake in Apple by 4% to 227 million shares and reduced its position in Bank of America by 9% to 517 million shares. Some thought that stock picker Todd Combs built the company’s Amazon stake, so the share sale may reflect his departure. Combs left in December for an investment position at JPMorgan Chase. Berkshire Hathaway also disclosed it acquired 5 million shares of the New York Times and increased its stakes in Chevron and Chubb.

Tuesday, Feb. 17, 2026

Genuine Parts Company-GPC reported fourth quarter sales of $6.0 billion, a 4.1% increase over the prior year, though the company recorded a net loss of $609.5 million with a -$4.39 diluted EPS due to $1.1 billion in one-time charges. On an adjusted basis, net income was $216.0 million, a 3.8% decline. Similarly, adjusted diluted EPS fell 3.7% to $1.55. Segment sales performance was strong: North America Automotive sales rose 2.4% to $2.3 billion, International Automotive sales grew 6.4% to $1.5 billion and the Industrial segment led the way with sales up 4.6% to $2.2 billion. For the full year, sales increased 3.5% to $24.3 billion, but GAAP net income and diluted EPS both plummeted 92.7% to $66 million $0.47, respectively.  Adjusted net income and diluted EPS both dropped about 10.0% to $1.0 billion and $7.37, respectively. Amidst these results, GPC announced a major strategic plan to separate into two independent, public companies by 2027: Global Automotive (NAPA) and Global Industrial (Motion). The company generated $420.9 million in free cash flow for the year, a 38.5% decrease from last year. The company’s adjusted return on equity was 23.1%. Shareholder returns remained a priority, with the company paying $563.8 million in dividends during 2025. The company announced a 3% increase in the dividend to an annualized rate of $4.25 per share for 2026, marking  its 70^th consecutive year of dividend increases. For 2026, GPC issued an outlook targeting total sales growth of 3% to 5.5% and adjusted diluted EPS between $7.50 and $8.00.

Friday, Feb. 13, 2026

Kinsale Capital Group-KNSL reported fourth quarter revenues increased 17% to $483.3 million with net income jumping 27% to $138.6 million and EPS up 28% to $5.99. Gross written premiums increased by 1.8% to $451.1 million despite a 28% decline in Commercial Property Division—Kinsale’s largest division that has grown “tremendously” during the past few years—reflecting lower rates and increased competition, including from standard carriers.  Excluding the Commercial Property division, gross premiums increased 10%. Net written premiums increased by 7.1% to $370.6 million due to an increase in the retention on the company’s reinsurance treaties. Net investment increased 25% to $52.3 million and underwriting income jumped 23% to $120.6 million resulting in a best-in-class combined ratio of 71.7%. For the year, total revenues increased 18% to $1.9 billion with net income increasing 21.4% to $503.6 million and EPS up 21.8% to $21.65.  The company generated an impressive 26.4% annualized return on shareholders’ equity during 2025 and ended the year with $5.2 billion in cash and investments, $224.4 million in long-term debt and $2.0 billion in shareholders’ equity on its sturdy balance sheet. Year-end float increased 24% to $3.1 billion and book value increased 33% to $84.66. During the fourth quarter, Kinsale repurchased 119,752 shares of its common stock in the open market at an average price of $417.52 per share for a total cost of $50.0 million, exhausting the initial $100 million share repurchase authorization. In December 2025, Kinsale announced a new $250 million share repurchase authorization. The company recently increased its dividend by 47.1% to $1.00 per share, reflecting continued confidence in the company’s financial position and capital generation abilities. The new share repurchase authorization and increased dividend return excess capital to stockholders while maintaining a conservative capital position.  One of Kinsale’s core competencies since inception is its proprietary tech stack featuring advanced automation, data analytics and AI to streamline underwriting, claims and policy issuance, leading to its durable competitive advantage as the low-cost producer in a commodity business. Kinsale fully embraces AI, integrating it into all aspects of its tech stack to further automate its business and become smarter about segment and price risk. "We delivered another strong quarter to close out 2025, marked by exceptional profitability resulting from continued disciplined underwriting and technology-enabled low costs in a competitive market. We remain confident that the resilience of our model positions us to deliver long-term value for our stockholders throughout the market cycle," said Chairman and Chief Executive Officer, Michael P. Kehoe.

Wednesday, Feb. 11, 2026

Amazon-AMZN announced that it will expand its Same-Day prescription delivery service to nearly 4,500 U.S. cities and towns by the end of 2026, adding nearly 2,000 new communities over the course of the year. The full-service digital pharmacy recorded faster delivery speeds in 2025 and will expand Same-Day Delivery service to nearly 2,000 cities and towns this year, bringing access to new states including Idaho and Massachusetts in 2026.

Meta Platforms-META officially broke ground on a $10 billion, state-of-the-art data center campus in Lebanon, Indiana, marking a massive investment in both infrastructure and the local community. Designed with a 1GW capacity, the facility is engineered to provide the flexibility needed to power Meta’s core products alongside intensive AI workloads. This project is set to become a significant economic driver for Boone County, supporting over 4,000 construction jobs and 300 permanent operational roles while fostering regional growth through workforce development programs, community grants and various environmental initiatives.

Tractor Supply Company-TSCO announced that its Board of Directors has increased its dividend by $0.04, or 4.3% year-over-year, to $0.96 per share on an annualized basis for 2026, marking the Company’s 17th consecutive year of dividend increases.

Friday, Feb. 6, 2025

Cognizant-CTSH partnered with Palantir Technologies to accelerate AI-driven modernization, specifically targeting healthcare and broader enterprise operations. By integrating Palantir’s Foundry and Artificial Intelligence Platform (AIP) into its TriZetto healthcare suite, Cognizant aims to optimize labor-intensive workflows and enhance its BPaaS offerings within highly regulated environments. This collaboration reinforces Cognizant's role as an AI builder, combining Palantir's frontier platforms with deep industry expertise to deliver secure, scalable, and compliant AI solutions that drive measurable business value for global clients.

Kinsale Capital Group-KNSL announced that its Board of Directors declared a cash dividend of $0.25 per share of common stock, a 47% jump year-over-year, signaling strong confidence in the company's cash flow and growth trajectory.

Thursday, Feb. 5, 2025

Amazon-AMZN reported fourth quarter revenues rose 14% to $213.4 billion with operating income up 18% to $25 billion, net income up 6% to $21.2 billion and EPS up 5% to $1.95, which included three special one-time charges. North American sales increased 10% to $127.1 billion, International sales rose 17% to $50.7 billion and AWS sales increased 24% to $35.6 billion, the fastest growth in 13 quarters. For the full year, revenues increased 12% to $716.9 billion with operating income rising 17% to $80 billion, net income jumping 31% to $77.7 billion and EPS up 30% to $7.17. Return on shareholders’ equity for the year was 18.9%. Operating cash flow increased 20% for the year to $139.5 billion with capital expenditures jumping 59% to $131.8 billion. Amazon expects to increase capital expenditures an additional 52% in 2026 to $200 billion, primarily in AWS, to support strong demand for its offerings in AI, chips, robotics and low earth orbit satellites. AWS is monetizing capacity as fast as they can install it with strong demand still exceeding supply. The company is confident in generating strong long-term returns on this invested capital, which is why it is aggressively investing to be the leader in AI. AI will provide tailwinds to all businesses, which represents an extraordinary opportunity for Amazon. Amazon is gaining market share in AI and announced new AWS agreements in the past quarter with OpenAI, Visa, Adobe, Accenture, the NBA, BlackRock, United Airlines, the U.S. Air Force, the National Bank of Canada, the London Stock Exchange and more. Amazon is gaining significant momentum with AWS custom chips with Tranium and Graviton now having a combined annual revenue run rate of over $10 billion and growing at a triple-digit growth rate over the past year. Amazon is continuing to innovate at a rapid pace in AI models, agents, building blocks and tools. At the same time, Amazon’s retail business is continuing to grow with the company increasing delivery speeds at the fastest pace ever for Prime members globally in 2025. Amazon was named the lowest-priced U.S. retailer by Profitero for the ninth year in a row, with online prices on average 14% lower than other major retailers. For the first quarter of 2026, Amazon expects net sales to grow between 11% to 15% to be between$173.5 billion and $178.5 billion. Operating income is expected to be between $16.5 billion and $21.5 billion compared to $18.4 billion in the first quarter of 2025. This includes about $1 billion of higher Amazon Leo costs, as the company plans to launch 20 satellites in 2026 and 30 in 2027.

Fastenal-FAST reported January net sales and average daily sales increased 6.9% to $697.1 million and 12.0% to $33.2 million, respectively. Sales rose in each geography with the U.S. up 10.8%, Canada/Mexico increasing 13.2% and the Rest of the World up an astounding 39.5%. By product line, Fasteners/Hardware sales led the way with 15.4% growth with Other sales up 11.5% and Safety sales up 9.4%. About 74% of the company’s Top 100 national accounts are growing compared to 58% a year ago. Fastenal’s total personnel increased 3.1% to 24,525 compared to last year.

Wednesday, Feb. 4, 2026

Alphabet-GOOGL reported full-year revenue of $402.8 billion, a 15% increase year-over-year, supported by a strong final quarter where revenue jumped 18% to $113.8 billion. Profitability significantly outpaced top-line growth, with annual net income surging 32% to $132.2 billion and diluted earnings per share (EPS) rising 34% to $10.81. This momentum was mirrored in the quarterly figures, which saw net income climb 30% to $34.5 billion and diluted EPS increase 31% to $2.82, underscoring Alphabet's success in driving aggressive margin expansion even at a massive scale. The results underscore a successful strategic pivot toward an "AI-first" ecosystem, as the company capitalizes on a critical inflection point in generative AI adoption. The primary engine of this growth remains the Google Services segment, which generated $95.9 billion in the final quarter, a 14% increase. Within this division, Google Search reached record highs for the quarter, catalyzed by the integration of AI-enhanced features like "AI Mode" that have expanded the platform's utility. YouTube also reached a significant milestone, with its combined advertising and subscription revenues surpassing $60 billion for the full year. Meanwhile, Google Cloud grew a staggering 48%, reaching $17.7 billion for the fourth quarter. This expansion was accompanied by a dramatic improvement in profitability, as operating income for the Cloud division more than doubled to $5.3 billion. Management attributed this surge to the enterprise sector's aggressive adoption of Alphabet’s AI infrastructure and specialized Gemini-based solutions. Central to Alphabet’s future-ready stance is the launch of Gemini 3. Management highlighted that this new model generation has fundamentally altered the company’s scale, with first-party models now processing over 10 billion tokens per minute via direct customer API usage. On the consumer side, the Gemini App has rapidly scaled to over 750 million monthly active users, signaling broad public acceptance of Alphabet’s AI tools. Alphabet’s financial health remains pristine even as it enters a cycle of historic reinvestment. The company’s operational efficiency reached new heights this year, generating a record $164.7 billion in operating cash flow. This fueled a free cash flow of $73.3 billion and propelled return on equity to a robust 32%. True to its commitment to shareholders, Alphabet returned over $55 billion through a combination of $10 billion in dividends and $45.7 billion in stock repurchases. Turning to the new fiscal year, Alphabet is seeing sustained momentum in Search and Cloud, bolstered by favorable currency tailwinds and high ROI for advertisers. To defend and extend this lead, management is embarking on an unprecedented investment cycle, projecting 2026 capital expenditures to reach between $175 billion and $185 billion. While this aggressive spending nearly doubles 2025 levels, it is underpinned by a massive $240 billion Google Cloud backlog, signaling impressive future demand that necessitates this rapid infrastructure build-out. This "all-in" bet on AI training and inference capacity will increase short-term depreciation and expenses, but it positions Alphabet as the primary utility provider for the generative AI era.

Corpay-CPAY reported fourth quarter revenue jumped 21% to $1.25 billion with net income increasing 8% to $264.5 million and EPS rising 9% to $3.75. Organic revenue, which excludes the impact from currency changes and acquisitions, grew 11%, driven by 16% jump in corporate payments to $473.0 million (despite a 200-basis point compression from float revenue due to the decline in interest rates), 10% gain in vehicle payments to $545.0 million, partially offset by a 7% decline in lodging payments to $112.9 million. Bookings increased 29%, same store sales inched ahead by 1% and retention remained stable at 92.3%. For 2025, Corpay reported record revenue of $4.53 billion, up 14% from 2024, with net income up 7% to $1.07 billion and EPS up 8% to $15.03. During 2025, Corpay generated an impressive 27.2% return on shareholders’ equity and $3.9 billion in free cash flow. The company returned $782.8 million to shareholders in 2025, including $500.0 million repurchased during the fourth quarter at an average cost per share of $294.12, leaving $1.5 billion remaining authorized under the current share repurchase program. Corpay ended the year with $2.5 billion in cash, $6.7 billion in long-term debt and $3.9 billion in shareholders’ equity. Looking ahead to 2026, revenues are expected to increase 16% to $5.27 billion with adjusted net income jumping 21% to $5.45.

Cognizant-CTSH reported fourth quarter revenues rose 5% to $5.3 billion with net income jumping 19% to $648 million and EPS increasing 22% to $1.34 thanks to expanding operating margins. For the full year, revenues increased 7% to $21.1 billion with net income relatively flat at $2.2 billion and EPS up 1% to $4.56, which included a one-time tax expense of $.80 per share.  Return on shareholders’ equity for the year was 15%. Free cash flow jumped 42% during the year to $2.6 billion with the company paying $610 million in dividends and repurchasing $1.4 billion of its stock. The company has $1.9 billion remaining authorized for future share repurchases. The company ended the year with a strong balance sheet with more than $1.9 billion in cash and investments, $543 million in long-term debt and $15.2 billion in shareholders’ equity.  For the year, revenue was broad-based across business segments and geographies. Cognizant has advanced its AI platform through partnerships with Anthropic, Microsoft and Adobe which helps clients scale AI across all businesses. AI is a tailwind for Cognizant’s business as they serve as a bridge to help clients implement new AI technologies to improve productivity. During the year, the company signed 28 large deals ($100 million plus), including five mega deals ($500 million plus). Bookings increased 5% year-over-year to $28.4 billion, which represented a book-to-bill of approximately 1.3x. For 2026, the company expects revenue growth of 4.9% to 7.4% to a range of $22.14 billion to $22.66 billion with adjusted EPS growth of 5% to 8% to a range of $5.56 to $5.70, thanks to continued operating margin expansion. In 2026, the company expects to return $1.6 billion to shareholders through share repurchases of $1 billion and a 6.5% increase in its dividend. Thanks to the company’s robust cash flows and strong balance sheet, Cognizant is able to invest in its business while returning significant cash to shareholders.

Tuesday, Feb. 3, 2026

PepsiCo-PEP reported fourth quarter revenues rose 6% to $29.3 billion with net income and EPS each popping 65% to $2.5 billion and $1.85, respectively. These results reflect accelerated revenue growth, strong core operating margin expansion and 16% core EPS growth aided by record productivity savings. For the full year, revenues rose 2% to $93.9 billion with net income and EPS both down 14% to $8.2 billion and $6.00, respectively. The annual results included a previously discussed $2.0 billion impairment charge related to the Rockstar brand. The company’s international business (which represented more than 40% of the company’s net revenue and operating profits in 2025) delivered more than 4% organic revenue growth and 27% operating profit growth. PepsiCo continues to see a long runway for profitable growth in the international business. Free cash flow increased 7% during the year to $7.8 billion with PepsiCo paying $7.6 billion in dividends and repurchasing $1.0 billion of its stock. The company announced a 4% dividend increase to an annualized $5.92 per share, marking the 54^th consecutive year of dividend increases. In addition, the company announced a new $10 billion share repurchase program through 2030. In 2026, PepsiCo expects to pay dividends of $7.9 billion and repurchase $1.0 billion of its stock. For 2026, the company expects organic revenue to increase 2% to 4%, leading to net revenue growth of 4% to 6%, with core EPS growth of approximately 5% to 7%. Through aggressive cost reductions and accelerated global productivity initiatives, such as automation, digitalization and simplification programs, PepsiCo aims to deliver a record year of productivity savings in 2026 and continues to expect at least 100 basis points of core operating margin expansion over the next three fiscal years. PepsiCo plans to restage four global brands—Lays, Tostitos, Gatorade and Quaker. At the same time, the company plans to introduce an expansive slate of innovative new offerings with a focus on hydration, whole grains, fewer artificial ingredients, protein and fiber. These new offerings, along with more single-serving products, will help satisfy consumers who are using GLP-1 products for weight loss.

Nvidia-NVDA is shifting its financial strategy away from a stalled $100 billion "megadeal" with OpenAI toward a more disciplined, diversified investment approach to mitigate risk. While CEO Jensen Huang confirmed Nvidia will still make its largest-ever equity investment as part of OpenAI’s new $100 billion funding round, he has privately distanced the chipmaker from the original nonbinding agreement, citing concerns over OpenAI’s business discipline and rising competition from Google and Anthropic. This pivot allows Nvidia to maintain its role as a critical infrastructure provider while protecting its $4.5 trillion market valuation from overexposure to a single customer’s massive $1.4 trillion in computing commitments. By spreading its capital—including a recent $10 billion commitment to Anthropic—Nvidia ensures its chips remain the industry standard across all major AI labs, regardless of which individual software company leads the market.

Waymo-GOOGL, the autonomous driving subsidiary of Alphabet, has secured a massive $16 billion investment round, catapulting its post-money valuation to $126 billion and signaling strong investor confidence in the commercial viability of self-driving technology. In addition to Alphabet's sustained support as majority investor, the financing was led by Dragoneer Investment Group, DST Global, and Sequoia Capital, following a year where Waymo more than tripled its annual volume to 15 million rides. Currently providing over 400,000 weekly paid rides across six major U.S. markets, the company plans to use this fresh capital to accelerate its global expansion, with a target of launching in more than 20 additional cities throughout 2026.

Monday, Feb. 2, 2026

Oracle-ORCL has launched a $45 billion to $50 billion financing plan for 2026, aimed at expanding its cloud capacity to meet a $523 billion backlog. To protect its investment-grade credit rating despite deep negative free cash flow, the company is using a balanced approach: roughly half the capital will come from a single, one-time bond issuance early in the year, while the other half will be raised through equity, including a $20 billion "at-the-market" program and mandatory convertible securities. This high-stakes pivot moves Oracle away from its legacy high-margin software model toward an asset-heavy "Stargate" infrastructure play, betting that massive upfront capital expenditures today will secure its dominance as the foundational grid for the AI era.

Friday, Jan. 30, 2026

Roche-RHHBY reported 2025 annual sales increased 7% in constant exchange rates (CER) to CHF 61.5 billion with net income and EPS increasing 56% in CER to CHF 12.9 billion and CHF 16.04, respectively. Excluding impairment charges and other special items, core EPS increased 11%. By business segment, Pharmaceuticals division sales increased a healthy 9% in CER to CHF 47.7 billion, driven by strong uptake in Xolair, Roche’s food allergy drug, and Phesgo for breast cancer alongside continued demand for its other cancer, MS, hemophilia and eye disease treatments. According to its CEO, during 2025 Roche’s growth outlook “fundamentally changed” based on 12 positive Phase III readouts across all treatment areas. In addition, a record ten unique experimental drug compounds reached Phase III status, including Roche’s obesity drugs that enable faster and deeper weight loss with no plateau after 48 weeks. During the past several years, Roche successfully prioritized its pharma pipeline, resulting in 66% of late-stage project with “best in disease” potential, a 60% increase in average peak sales per pipeline project to CHF 1.3 billion and an estimated 45% increase in total pipeline portfolio value. Roche’s Diagnostics division sales increased 2% CER to CHF 13.8 billion despite a 24% decline in China sales (Roche’s second largest market) due to healthcare pricing reforms. Excluding the hit from China, Diagnostic division sales grew by 7%. The division has a number of key product launches slated for 2026 including lab equivalent point-of care 15-minute tests for a number of diseases including Bordetella that causes 24.1 million cases of whooping cough annually resulting in about 160,000 deaths, often in young children.  During the fourth quarter, Roche signed a contract with the US government that provides it with a three-year exemption from tariffs in return for offering favored-nation pricing, direct-to-patient access to its influenza portfolio and a $50 billion commitment to US-based manufacturing, infrastructure and R&D by 2029.   During 2025, Roche generated an impressive 38.1% return on shareholders’ equity and CHF 15.1 billion in free cash flow. Free cash flow declined 9% from last year on an increase in receivables resulting from a jump in fourth quarter sales and an inventory buildup to minimize potential tariffs. Management expects these working capital demands to ease during the first few months of 2026.  Roche ended the year with CHF 15.5 billion in cash and investments, CHF 27.4 billion in long-term debt and CHF 37.9 billion in shareholders’ equity on its healthy balance sheet. For 2026, Roche expects mid-single-digit sales growth, high-single-digit core EPS growth and further dividend increases in Swiss francs.

Canadian National-CNI reported fourth quarter revenue rose 2% to C$4.5 billion with net income chugging 9% higher to C$1.24 billion and EPS rolling 12% higher to C$2.03. The company’s operating ratio improved 140 basis points during the quarter to 61.2%, helped by fuel, depreciation and ongoing labor productivity. CNI delivered high-level performance across key operating metrics during the quarter as car velocity and fuel efficiency increased and operating expenses decreased. The railroad’s ongoing focus on improving locomotive productivity is increasing asset utilization.  Volume growth was driven by strong grain demand and intermodal gains along with growth across all petroleum and chemical segments. However, cross-border forest products, steel, aluminum and automotive shipments continue to be impacted by tariffs. For the full fiscal year, revenues increased 2% to C$17.3 billion with net income up 6% to C$4.7 billion and EPS up 8% to C$7.57. Return on equity for the year was a sturdy 21.9%. Free cash flow increased 8% to C$3.4 billion with the company paying C$2.2 billion in dividends and repurchasing C$2.1 billion of stock during 2025. The company announced a 3% dividend increase for 2026, marking the 30th consecutive year of dividend increases. This demonstrates the company’s confidence in the long-term financial health of the railroad and the durability of cash flows. The Board also approved a new 24 million share repurchase program over the next 12 months as management believes the stock is undervalued. In 2026, given the current macro environment, CNI expects volume growth will be “flattish” with adjusted EPS growth expected to slightly exceed volume growth.

Roche-RHHBY reported 2025 annual sales increased 7% in constant exchange rates (CER) to CHF 61.5 billion with net income and EPS increasing 56% in CER to CHF 12.9 billion and CHF 16.04, respectively. Excluding impairment charges and other special items, core EPS increased 11%. By business segment, Pharmaceuticals division sales increased a healthy 9% in CER to CHF 47.7 billion, driven by strong uptake in Xolair, Roche’s food allergy drug, and Phesgo for breast cancer alongside continued demand for its other cancer, MS, hemophilia and eye disease treatments. According to its CEO, during 2025 Roche’s growth outlook “fundamentally changed” based on 12 positive Phase III readouts across all treatment areas. In addition, a record ten unique experimental drug compounds reached Phase III status, including Roche’s obesity drugs that enable faster and deeper weight loss with no plateau after 48 weeks. During the past several years, Roche successfully prioritized its pharma pipeline, resulting in 66% of late-stage project with “best in disease” potential, a 60% increase in average peak sales per pipeline project to CHF 1.3 billion and an estimated 45% increase in total pipeline portfolio value. Roche’s Diagnostics division sales increased 2% CER to CHF 13.8 billion despite a 24% decline in China sales (Roche’s second largest market) due to healthcare pricing reforms. Excluding the hit from China, Diagnostic division sales grew by 7%. The division has a number of key product launches slated for 2026 including lab equivalent point-of care 15-minute tests for a number of diseases including Bordetella that causes 24.1 million cases of whopping cough annually resulting in about 160,000 deaths, often in young children.  During the fourth quarter, Roche signed a contract with the US government that provides it with a three-year exemption from tariffs in return for offering favored-nation pricing, direct-to-patient access to its influenza portfolio and a $50 billion commitment to US-based manufacturing, infrastructure and R&D by 2029.   During 2025, Roche generated an impressive 38.1% return on shareholders’ equity and CHF 15.1 billion in free cash flow. Free cash flow declined 9% from last year on an increase in receivables resulting from a jump in fourth quarter sales and an inventory buildup to minimize potential tariffs. Management expects these working capital demands to ease during the first few months of 2026.  Roche ended the year with CHF 15.5 billion in cash and investments, CHF 27.4 billion in long-term debt and CHF 37.9 billion in shareholders’ equity on its healthy balance sheet. For 2026, Roche expects mid-single-digit sales growth, high-single-digit core EPS growth and further dividend increases in Swiss francs.

Stryker-SYK reported net sales reached $25.1 billion, an increase of 11.2% over 2024 and the first time the company has surpassed the $25 billion mark. The fourth quarter also showed strong momentum, with reported sales of $7.2 billion, representing an 11.4% increase compared to the same period in the prior year. Reported net earnings for the full year were $3.2 billion, an 8.5% increase. The fourth quarter was particularly explosive, with reported net earnings jumping 55.5% to $849 million. In line with the earnings growth, reported earnings per share (EPS) saw a steady rise for the year and a sharp spike in the final quarter. Reported EPS rose 8.2% to reach $8.40 for the full year, and reported EPS surged 56.0% to $2.20 for the fourth quarter. Beyond these standard reported figures, the company’s underlying operational efficiency was highly potent; when utilizing adjusted net earnings of $5.3 billion, Stryker delivered an adjusted return on equity of 23.49%, showcasing management's ability to generate significant profit from shareholder capital. The MedSurg and Neurotechnology segment served as the primary growth engine, with fourth quarter reported sales climbing 17.5% to $4.6 billion behind a 17.1% increase in Instruments and a 58.1% surge in Vascular. While Orthopaedics reported a modest 2.2% increase to $2.6 billion due to divestitures, the "Other Ortho" category grew 20.3% on the back of massive demand for Mako robotics. Geographically, the U.S. led the quarter with $5.44 billion in sales, an 11.7% increase, while international markets rose 10.6% to $1.73 billion with continued strength in Japan and South Korea. Stryker’s strong profitability translated into significant liquidity. Free cash flow was highly efficient, reaching 81% of adjusted net earnings. This robust cash position allowed the company to remain committed to its dividend strategy, paying out $1.3 billion in dividends to shareholders over the fiscal year. Entering 2026, Stryker expects to carry this momentum forward. The company has guided for adjusted net EPS between $14.90 and $15.10. Management expects a healthy capital order book and continued robotic adoption to drive another year of growth at the high end of the MedTech sector.

Gentex-GNTX reported fourth quarter revenues motored 19% higher to $644.4 million with net income up 6% to $87.7 million and EPS up 10% to $.43. VOXX, a recent acquisition, contributed $103.4 million in revenues during the quarter with core Gentex revenue approximately flat despite a 2% decline in light vehicle production in the company’s primary markets. The core Gentex gross margin increased 300 basis points during the quarter to 35.5% reflecting favorable product mix, continuing operational efficiencies and purchasing cost reduction, partially offset by tariff-related costs in the fourth quarter. This was the highest gross margin achieved by the company since 2021 and reflects the company’s disciplined focus on cost control, productivity and execution. For the full year, revenues increased 10% to $2.5 billion with net income declining 5% to $384.8 million and EPS dipping 1% to $1.74, primarily driven by tariff costs and the resulting reduction in demand for exports of the company’s products into China. Thanks to strong cash flows, the company repurchased during the year 13.6 million shares at an average price of $23.48 per share for a total of $319 million. Gentex has 35.9 million shares remaining authorized for future share repurchases. The company ended the year with a strong balance sheet with more than $424 million in cash and investments, no long-term debt and $2.5 billion in shareholders’ equity. Return on equity for the year was a solid 15.5%. For fiscal 2026, Gentex expects revenues in the $2.6 billion to $2.7 billion range with gross margin in the range of 34% to 35%. For fiscal 2027, the company expects revenues to continue to grow to the range of $2.75 billion to $2.85 billion.

Thursday, Jan. 29, 2026

Apple-AAPL reported fiscal first quarter revenues and net income each rose a shiny 16% to $143.8 billion and $42.1 billion, respectively, with EPS up 18%. This “remarkable, record-breaking” quarter was driven by unprecedented demand for the iPhone with all-time records across every geographic segment. Tim Cook described the demand as “simply staggering.” Other than Japan, each geographic segment generated double-digit growth led by 38% growth in Greater China. The strength in China was due to strong demand for the iPhone 17. Overall, iPhone revenues jumped 23% to $85.3 billion as the company gained market share with the iPhone 17 providing the best battery life, camera and design while providing consumers with incredible value. During the quarter, Mac sales declined 7% to $8.4 billion with the installed base at a record high. iPad sales rose 6% during the quarter to $8.6 billion as it remains the most popular tablet in the world. Revenues in Wearables, Home and Accessories ticked 2% lower to $11.5 billion with the health and wellness features of the Apple Watch and the amazing sound of AirPod 3, along with the live translation feature, driving growth. Services revenues grew 14% during the quarter to a record $30.0 billion thanks to growth at Apple TV (a 36% increase in viewership), Apple Music, Apple Pay, the App Store and Retail stores. Apple now has an installed base of more than 2.5 billion active devices, which is a testament to incredible customer satisfaction which hit 99% for the iPhone 17. Despite surging memory costs, Apple managed to deliver a gross margin of 48.2% during the quarter thanks to favorable product mix and leverage. These exceptionally strong financial results led to a 91% jump in free cash flow to $51.6 billion during the quarter with the company paying $3.9 billion in dividends and repurchasing $24.7 billion of its common stock. Despite a constrained phone supply, Apple still expects third quarter revenues to increase 13%-16% with gross margin expected in the range of 48%-49%. Apple is excited about its partnership with Google to increase Apple Intelligence and provide a more personalized Siri.

ResMed-RMD reported strong financial performance for the second quarter of fiscal year 2026, achieving 11% revenue growth to $1.4 billion, a 14% increase in net income to $392.6 million and EPS of $2.68. Gross margin increased by 320 basis points primarily driven by manufacturing and logistics efficiencies and component cost improvements. During the quarter, free cash flow increased 8% to $311.2 million, with the company returning $262.6 million to shareholders through dividends of $87.6 million and share repurchases of $175 million. Management expects share repurchases to exceed $600 million for fiscal year 2026. The board of directors declared a quarterly cash dividend of $0.60 per share, payable on March 19, 2026. During the quarter, ResMed published new research in SLEEP, showing in patients with OSA across all comorbidity cohorts each additional hour of PAP use linked to a 4.1%-6.2% reduction in healthcare utilization over 12-24 months. The company also announced it received FDA clearance for an AI-enabled digital medical device, to be marketed as Smart Comfort, designed to personalize CPAP comfort settings and improve patient adherence.

Visa-V rang up a 15% increase in fiscal first quarter sales to $10.9 billion with net income up 14% to $5.9 billion and EPS charging ahead 17% to $3.03.  By segment, service revenue, driven by transactional value flowing through the Visa system, increased 13% to $4.8 billion, data processing revenue, powered by the number of transactions Visa handles, increased 17% to $5.5 billion, international revenue, driven by the number of transactions crossing borders, increased 6% to $3.7 billion and other revenue, which includes licensing fees and value-added services, increased 33% to $1.2 billion. Payments volume for the quarter increased 8% over the prior year on a constant-dollar basis. Total cross-border volume increased 12% and total processed transactions increased 9% to 69.4 billion. As of 12/31/2025, 5 billion Visa cards/credentials had been issued. During the fiscal first quarter, Visa generated $6.4 billion in free cash flow, up 26.7% from last year, and representing an impressive 109% of reported net income. The company returned more than $5.0 billion to shareholders through dividend payments of $1.29 billion and share repurchases of $3.77 billion at an average cost per share of $342.13, leaving $21.1 billion authorized for future repurchases. Visa ended the quarter with $15.2 billion in cash and investments, $19.6 billion in long-term debt and $38.8 billion in shareholders’ equity on its A+ rated balance sheet. Looking ahead to the full year, Visa expects revenue and EPS growth in the low-double-digits. Ryan McInerney, Chief Executive Officer, commented, “Our purposeful investments in our Visa as a Service stack continue to position us as a payments hyperscaler to deliver technology and infrastructure that redefine what's possible in payments."

Mastercard-MA reported fourth quarter revenues charged ahead 17.6% to $8.8 billion with net income climbing 21.5% to $4.06 billion and EPS jumping 24.2% to $4.52. Payment network net revenue grew 9% on a currency-neutral basis to $4.9 billion, driven by gross dollar volume growth of 7% to $2.8 trillion, cross-border volume growth of 14% and switched transactions growth of 10%.  Value-added services and solutions net revenue jumped 22% on a currency-neutral basis to $3.9 billion, powered by Mastercard’s underlying growth drivers: digital and authentication solutions, security solutions, consumer acquisition and engagement services, business and market insights and pricing. As of December 31, 2025, the company’s customers had issued 3.7 billion Mastercard and Maestro-branded cards. For the full year, Mastercard’s revenue and net income rose 16% to $32.8 billion and $15.0 billion, respectively, with EPS up 19% to $16.52. During 2025, Mastercard rang up an impressive 27.6% return on assets and $17.2 billion in free cash flow, up 20% from last year, and representing a remarkable 115% of reported earnings. This robust free cash flow enabled Mastercard to not only invest in its business and make acquisitions to drive future growth but also return $14.5 billion to shareholders through dividend payments of $2.8 billion and share repurchases of $11.7 billion during 2025. Mastercard ended the year with $10.6 billion in cash, $18.3 billion in long-term debt and $7.7 billion in shareholders’ equity on its A+-rated balance sheet. Looking ahead to the full year, revenues are expected to growth at the high end of low-double- digits with expenses increasing at the high end of high-single-digits. Michael Miebach, Mastercard CEO, remarked, “The overall macroeconomic environment is supportive and we continue to see healthy consumer and business spending. That, together with trusted technology, constant innovation, and deep partnerships, powers our performance. Focused, agile, and diversified, we’re well positioned for the opportunities ahead in 2026.”

Tractor Supply Company-TSCO reported that fourth-quarter sales grew 3.3% to $3.90 billion, though the company faced some bottom-line pressure as quarterly net income declined 3.8% to $227.4 million. This resulted in a diluted EPS of $0.43, a 2.7% dip from the same quarter last year. Taking the full year into account, net sales increased 4.3% to $15.52 billion. Despite the quarterly fluctuations, annual net income remained stable at $1.1 billion, while diluted EPS edged up 1.0% to $2.06. Net cash provided by operating activities rose 15.1% to $1.64 billion, driven by strategic working capital management and higher non-cash adjustments. This performance resulted in a 16.3% increase in free cash flow, underscoring a disciplined approach to asset management that yielded an impressive 42.5% return on equity. This financial strength allowed the company to return $848.5 million to shareholders through $487.7 million in dividends and $360.8 million in common stock repurchases. For fiscal 2026, Tractor Supply issued an optimistic outlook targeting net sales growth of 4%–6% and comparable store sales gains of 1%–3%. Bottom-line guidance includes a diluted EPS range of $2.13 to $2.23 on net income of up to $1.17 billion, bolstered by an anticipated $375–$450 million in share repurchases.

Wednesday, Jan. 28, 2026

Microsoft-MSFT reported revenue for the quarter ended December 31 increased 17% to $81.3 billion with net income and EPS jumping 60% to $38.5 billion and $5.16, respectively. Excluding the impact from Microsoft’s investment in OpenAI, which resulted in a $1.02 gain during the second quarter of fiscal 2026 and a $0.12 loss in the same quarter last year, adjusted EPS increased 24% to $4.14.  By business segment, Productivity and Business Processes revenue increased 16% to $34.1 billion, powered by 17% growth in Microsoft 365 Commercial cloud revenue, 29% jump in Microsoft 365 Consumer cloud revenue, 11% increase in LinkedIn revenue and 19% growth in Dynamics 365 revenue. Intelligent Cloud revenue climbed 29% to $32.9 billion thanks to a 39% surge in Azure and other cloud services revenue. More Personal Computing revenue dipped 3% to $14.3 billion on a 1% increase in Windows OEM and Devices revenue, a 5% decline in Xbox content and services revenue and a 10% increase in Search and news advertising revenue. Microsoft ended the quarter with $620.0 billion in remaining performance obligations (RPO), which represents the total value of future revenue from customer contracts not yet reflected on financial statements. RPO rose 110% from last year, with 25% expected to be recognized during the next 12 months. About 45% of Microsoft’s RPO derives from its OpenAI contracts. For the six months ended 12/31/2025, Microsoft generated $80.8 billion in operating cash flow, up 43% from last year, and $31.5 billion in free cash flow, up 22% from last year, on a 60% surge in capital expenditures to build out its AI infrastructure.  This includes nearly $37.5 billion invested during the second quarter, up 66% year-over-year, to support customer demand for Microsoft’s cloud and AI offerings, which still exceeds supply. Roughly two-thirds of the capital expenditures were for short-lived assets, primarily GPUs and CPUs to support Azure platform demand, growing first-party applications and AI solutions. The remaining capital expenditures were for long-lived assets with a 15-year time horizon.  During the first half of fiscal 2026, Microsoft returned $26 billion to shareholders through $13 billion in dividend payments and $13 billion in share repurchases. Microsoft ended the quarter with $89.5 billion in cash and short-term investments, $35.4 billion in long-term debt and $390.9 billion in shareholders’ equity on its pristine balance sheet. Looking ahead to the fiscal third quarter, revenue is expected to grow 15% to 17% year-over-year with cost of goods sold increasing 22% to 23% and operating expenses increasing 10% to 11%, resulting in a slight decline in operating margins. Capital expenditures are expected to decline sequentially due to the normal variability from cloud infrastructure buildouts and capital lease deliveries.

Meta-META generated $59.89 billion in fourth-quarter revenue, a massive 24% increase over the previous year. This surge was powered by their "Family of Apps" ecosystem (Facebook, Instagram, Messenger, WhatsApp and other services) that saw daily active users climb to 3.58 billion, while ad impressions and pricing both moved steadily upward, bolstered by record-breaking holiday demand and performance gains driven by AI. Net income for the quarter rose a more modest 9% to $22.77 billion, while diluted earnings per share (EPS) grew 11% to $8.88. The gap between revenue and profit growth was largely due to a 40% surge in quarterly expenses, as the company funneled capital into its ambitious AI infrastructure. For the full year, Meta crossed a historic milestone, reporting $200.97 billion in total revenue, representing a robust 22% year-over-year increase. Despite this record-breaking sales performance, the company’s bottom line slightly dipped. Annual net income fell 3% to $60.46 billion, and diluted EPS followed with a 2% decline to $23.49. This divergence was primarily driven by a 24% surge in AI infrastructure spending and a one-time tax spike to 30% triggered by the One Big Beautiful Bill Act. CEO Mark Zuckerberg has declared 2026 the year of "major AI acceleration," shifting Meta's core vision toward building personal superintelligence. This initiative aims to move beyond "primitive" algorithms to feeds that understand specific personal goals, a vision fueled by the new Meta Superintelligence Labs. The success of this pivot is already visible in the hardware sector, where sales of Meta's AI-integrated glasses tripled in 2025, a milestone Zuckerberg compares to the arrival of the smartphone. Despite a 27% increase in operating cash flow to $115.80 billion, Meta’s annual free cash flow declined by 16% to $43.59 billion as the company nearly doubled its capital spending to $72.22 billion. Even with these massive investments, Meta maintained an impressive 28% return on equity and returned $31.6 billion to shareholders through $5.32 billion in dividends and $26.26 billion in buybacks for the year. Meta provided strong guidance for the first quarter of 2026, with revenue expected between $53.5–$56.5 billion. Growth is expected to be bolstered by new revenue levers, including the global rollout of ads on Threads and the completion of the ad rollout for WhatsApp Status. While Reality Labs losses are expected to peak in 2026, Meta is betting that its transition from a social media company to an AI infrastructure giant will define the next decade of computing.

General Dynamics-GD reported fourth quarter revenues increased 7.8% from last year to $14.4 billion with net income dipping slightly to $1.14 billion and EPS increasing slightly to $4.17 on difficult comps from discreet items that added to last year’s fourth quarter results. Fourth quarter revenue was boosted by 22% growth in Marine Systems revenue to $4.8 billion, powered by submarine programs. For the year, General Dynamics revenue increased 10% to $52.6 billion with net income up 11% to $4.2 billion and EPS up 13% to $15.45. End of year backlog jumped 30% on strong demand to $118.0 billion with a $178.9 billion total estimated contract value and a 1.5-to-1 book to bill ratio. A 60% jump in Combat Systems backlog, driven by robust international demand, and a 31% rise in Marine Systems backlog to a record $52.3 billion boosted total company backlog. During 2025, General Dynamics generated a 16.4% return on shareholders’ equity, $5.1 billion in cash flow from operations and $3.96 billion in free cash flow. During 2025, General Dynamics invested $1.2 billion in capital expenditures to support its growing business, reduced total debt by $749 million and paid dividends of $1.6 billion. The company ended the year with $2.3 billion in cash, $7.0 billion in long-term debt and $25.6 billion on its strong balance sheet. For 2026, the company expects revenue of $54.55 billion, up nearly 4% from 2025, and EPS of $16.15, up 4.5% from last year. Management expects to generate a cash conversion rate of 100% during 2026, up from 94% in 2025.

ADP-ADP reported fiscal second quarter revenues rose 6% to $5.4 billion with net income tabulating a 10% gain to $1.1 billion and EPS up 12% to $2.62. Solid and broad-based new business bookings growth enabled the company to deliver strong financial results. Internationally, the company is making progress by booking a key win with an international bank with 75,000 employees during the quarter. ADP processes payroll for one out of every six U.S. workers and serves more than 1.1 million clients worldwide with 42 million plus workers paid across more than 140 countries. ADP processes $3.3 trillion in annual payroll and taxes. Client satisfaction scores reached a new all-time high for the company during the quarter. The company’s client retention last year was a high 92.1% with a modest dip of 10 to 30 basis points expected this year. Due to working capital changes, free cash flow declined 9% during the first half of the fiscal year to $1.7 billion with the company paying $1.3 billion in dividends and repurchasing $882 million of its stock. ADP has increased its dividend for 51 consecutive years and has been named to Fortune’s Most Admired Companies ™ list for 20 straight years. Given the strong second quarter results, ADP raised its full year guidance for fiscal 2026 revenue and EPS growth with revenues expected to grow about 6% and expanding profit margins leading to 9% to 10% EPS growth, supported by a recent $6 billion increase in the company’s share repurchase program. ADP sees a stable business environment with a continued low hiring/low firing employment market with little impact from AI seen on employment levels at this time.

FactSet-FDS has entered into a multi-year arrangement with Barclays to drive the next phase of the bank’s long-term market data strategy. Through this collaboration, FactSet will deploy its advanced analytics and innovative technology to empower Barclays in delivering enhanced, data-driven solutions to its global clients. This agreement underscores FactSet’s role as a critical partner in modernizing financial workflows and providing the sophisticated tools necessary for high-level client service.

Amazon-AMZN announced further organizational adjustments aimed at reducing bureaucracy and increasing operational speed, a continuation of the restructuring efforts initiated last October. These changes will result in the elimination of approximately 16,000 roles globally, as the company seeks to flatten leadership layers and empower individual team ownership. While this transition impacts a significant portion of the workforce, Amazon is committed to providing comprehensive support, including a 90-day internal job-search period for most U.S. employees, severance packages and outplacement services. Despite these reductions, the company remains focused on long-term invention, maintaining a robust hiring pace in strategic growth areas and critical functions to capitalize on future opportunities in a rapidly evolving global market.

Tuesday, Jan. 27, 2026

Meta Platforms-META is accelerating its AI ambitions through a multiyear, $6 billion agreement with Corning to secure the advanced optical fiber and connectivity solutions required for its U.S. data center buildout. By serving as the anchor customer for Corning’s expanded North Carolina operations, Meta is not only prioritizing domestic innovation but also driving significant economic impact. The partnership is projected to boost Corning's regional employment by 15% to 20% and sustain a highly skilled workforce of more than 5,000 employees. This strategic investment ensures that Meta’s next-generation infrastructure is supported by a robust U.S. supply chain, scaling the density and capacity needed to power its suite of apps and future technologies.

RTX-RTX reported fourth quarter revenues rose 12% to $24.2 billion with net income up 9% to $1.6 billion and EPS up 8% to $1.19. For the full year, revenues increased 10% (11% on an organic basis) to $88.6 billion with net income jumping 41% to $6.7 billion and EPS up 40% to $4.96. On an adjusted basis, excluding acquisition, restructuring and other non-recurring items, EPS increased 10% for the year to $6.29. This included 14% growth in segment operating profit and 50 basis points of consolidated segment margin expansion. Return on shareholders’ equity improved to 10.3% for the year. Free cash flow jumped 75% during the year to $7.9 billion with the company paying $3.6 billion in dividends and repaying $3.4 billion of long-term debt. RTX backlog grew 23% during the year to $268 billion, including $161 billion of commercial and $107 billion of defense backlog. This strong backlog was driven by resilient end markets and the durable demand for RTX products. The company received $138 billion of new awards in 2025 with a book-to-bill of 1.56 for the year. RTX enters 2026 with great momentum and is well positioned to deliver on its 2026 financial outlook by investing in new capabilities, expanding production capacity and executing on its backlog to meet the growing needs of its customers. In 2026, RTX expects 5%-6% organic sales growth with adjusted sales expected in the range of $92 billion to $93 billion. Adjusted EPS is expected to grow 5% to 8% to a range of $6.60 to $6.80. Free cash flow for 2026 is expected to increase 4% to 11% to a range of $8.25 billion to $8.75 billion. RTX remains committed to paying its dividend while investing in capital expenditures to increase its capacity to meet the growing demand of its customers.

Monday, Jan. 26, 2026

NVIDIA-NVDA and CoreWeave have announced a significant expansion of their strategic partnership to accelerate the global buildout of more than 5 gigawatts of AI factories by 2030, bolstered by a $2 billion investment from NVIDIA into CoreWeave Class A common stock at $87.20 per share. This collaboration deepens the integration between the two companies' infrastructure and software platforms, leveraging NVIDIA’s financial strength to fast-track CoreWeave’s procurement of land, power and data center shells to meet the exponential demand for AI compute. As part of this roadmap, CoreWeave will be an early adopter of multiple generations of NVIDIA architectures, including the Rubin platform, Vera CPUs and Bluefield storage systems, while working to validate and integrate its AI-native software, such as SUNK and Mission Control, into NVIDIA’s official reference architectures for enterprise and cloud partners.

Thursday, Jan. 22, 2026

Procter & Gamble-PG reported second fiscal quarter revenues rose a modest 1% to $22.2 billion with organic sales unchanged from the prior year. Net income dropped 7% to $4.3 billion with EPS down 5% to $1.78, primarily due to restructuring charges during the quarter. Given a challenging consumer and geopolitical environment, organic volume declined 1% during the quarter with 3% growth in the Beauty segment more than offset by declines in other segments, notably the 5% decline in volume in the Baby, Feminine & Family Care segment. Gross margin declined 120 basis points during the quarter due to unfavorable product mix, product reinvestment and higher costs from tariffs. Free cash flow increased 11% during the first half of the year to $8.0 billion with the company paying $5.1 billion in dividends and repurchasing $3.5 billion of its stock. For the full year, the company expects to pay around $10 billion in dividends and repurchase approximately $5 billion of its shares. This is a tidy shareholder return yield of about 4.2% based on the current price of stock. PG reiterated this was likely the softest quarter of the year, as a challenging consumer and competitive backdrop met a tough U.S. comparison tied to last year's port-strike and pantry-loading dynamics. The company is confident that results will improve in the second half of the fiscal year as innovation ramps up. PG maintained its fiscal year sales, core EPS growth and cash return guidance. Sales growth is expected in the range of one to five percent with organic sales growth in the range of in-line to up four percent versus the prior year. EPS growth is expected in the range of one percent to six percent with core EPS growth expected in the range of in-line to up four percent. This outlook equates to a EPS range of $6.83 to $7.09.

Wednesday, Jan. 21, 2026 

Johnson & Johnson-JNJ reported fourth quarter worldwide sales increased a healthy 9.1% to $24.6 billion with net income and EPS increasing 49% to $5.1 billion and $2.10, respectively. Adjusted EPS, which excludes litigation, amortization and other one-time expenses, increased 20.6% to $2.46. By segment, Innovative Medicine sales increased 10% to $15.8 billion, driven by sales of multiple myeloma treatments Darzalex aand Carvykti. Darzalex, JNJ’s top-selling drug, boosted sales by more than 25% to $3.9 billion during the quarter.  J&J aims to be the world’s top cancer drugmaker by 2030 with a projected 14.5% average annual increase in oncology sales to $50 billion, half of which it expects from Darzalex.  MedTech sales increased 7.5% to $8.8 billion on strong execution and innovation in its three focus areas: Cardiovascular, Surgery and Vision. Management plans to spinoff its Orthopaedics division by mid-2027. For the year, Johnson & Johnson reported a 6% sales increase to $94.2 billion with net income and EPS increasing 91% to $26.8 billion and $11.03, respectively. Excluding litigation, amortization and other special items, adjusted EPS increased 8.1% to $10.79. During 2025, JNJ generated $19.7 billion in free cash flow, on par with 2024 despite increased capital investment in the US and the impact of tariffs. JNJ counts its financial strength and robust cash flow generation as a competitive advantage that allows it to invest for future growth while returning return value to shareholders. In 2025, the company invested more than $32 billion in R&D and M&A including the acquisitions of Intracellular Therapies and Halda Therapeutics while also initiating the investment of billions of dollars in new state-of-the-art manufacturing facilities in the US, which will accelerate its next wave of innovation. During 2025, JNJ returned $12.4 billion to shareholders through dividend payments. Johnson & Johnson ended the year with $20 billion in cash and securities and $40 billion in long-term debt. Looking ahead to 2026, management expects sales to increase 6.7% to $100.5 billion with adjusted EPS increasing 7% to $11.53. The company expects to generate $21 billion in free cash flow during 2026, up 7% from 2025.

Tuesday, Jan. 20, 2026

Fastenal-FAST reported fourth quarter revenues rose 11% to $2.0 billion with net income ratcheting up a solid 12% gain to $294.1 million and EPS up 13% to $.26. For the full 2025 year, revenues rose 9% to $8.2 billion with net income and EPS each up 9% to $1.3 billion and $1.09, respectively.  Return on shareholders’ equity was an impressive 31.9% for the year as return on invested capital increased over 90 basis points to 31% compared to a 10-year average of approximately 28%.  While broad market conditions remained mixed during the year due to ongoing challenges in industrial production, Fastenal’s ongoing focus on pricing and managing tariff impacts enabled the company to maintain its high profitability. Customer sentiment remains favorable despite ongoing trade and tariff uncertainty. Free cash flow increased 11.5% during the year to $1.1 billion with the company paying $1.0 billion in dividends. Fastenal recently increased its dividend 9% for 2026, reflecting its confidence in future strong cash flows. In 2026, Fastenal anticipates double-digit sales growth and operating margin improvement supported by continued market share gains through key account strategies and new contracts. To support this growth, the company expects to invest $310 million to $330 million in capital expenditures in 2026, a 30%-40% increase over last year, as the company replaces its Atlanta hub facility, increase truck spending and elevates IT spending.

Friday, Jan. 16, 2026

Paychex-PAYX announced that its Board of Directors has authorized the purchase of up to $1 billion of the Company’s common stock. The new authorization replaces the prior 2024 authorization to repurchase $400 million of the Company’s common stock. In addition, the Board has declared a regular quarterly cash dividend on Paychex common stock of $1.08 per share, which currently yields 3.9%.

Wednesday, Jan. 14, 2026

Automatic Data Processing-ADP announced that the ADP Board of Directors authorized the purchase of $6 billion of its common stock. ADP had approximately 403 million common shares outstanding as of December 31, 2025.

Johnson & Johnson-JNJ has entered a voluntary partnership with the Trump Administration to enhance medicine affordability for millions of Americans. As part of this initiative, the company will offer discounted medications through the TrumpRx.gov direct-to-patient platform and align its U.S. and Medicaid pricing with international benchmarks found in other developed nations. Johnson & Johnson is advancing its $55 billion commitment to U.S. manufacturing, R&D and technology through 2029. With a goal to produce the majority of its advanced medicines domestically, the company recently announced two new facilities in Pennsylvania and North Carolina. These projects, along with ongoing multi-billion dollar expansions in Wilson and Holly Springs, NC, are expected to generate thousands of skilled jobs and strengthen the local healthcare supply chain.

Roche-RHBBY has expanded its strategic oncology collaboration with MediLink Therapeutics by securing an exclusive global license to develop, manufacture and commercialize YL201, a B7H3-targeting antibody-drug conjugate (ADC) designed to treat multiple solid tumors. Building on their existing January 2024 partnership for the YL211 program, this new agreement includes $570 million in upfront and near-term milestone payments. By integrating YL201 into its oncology pipeline, Roche intends to leverage its global clinical and commercial infrastructure to accelerate the program toward regulatory approvals and provide a novel therapeutic option for patients worldwide.

Meta-META announced a historic expansion of its carbon-free energy portfolio through a series of multi-gigawatt nuclear power contracts designed to provide over 6 gigawatts of reliable, low-carbon electricity for its global artificial intelligence infrastructure. This sweeping initiative positions Meta as one of the largest corporate buyers of nuclear energy in American history and includes 20-year agreements with Vistra to purchase power from facilities in Ohio and Pennsylvania, as well as strategic partnerships with Oklo and the Bill Gates-backed TerraPower to develop next-generation reactor projects. By securing a massive, consistent power supply capable of supporting the equivalent of 5 million homes, Meta is addressing the immense energy demands of large-scale AI data centers while upholding its commitment to sustainability, joining fellow hyperscalers in a strategic shift toward nuclear power as a cornerstone of the future digital economy.

Canadian National-CNI announced that it set a new monthly record for grain movement in December, marking its fourth consecutive record month. CNI moved over 2.82 million metric tonnes of grain from Western Canada last month, surpassing its previous December record set in 2020 by over 80,000 metric tonnes. CNI also set a record for grain moved within a single calendar year in 2025. In Western Canada, CNI moved over 31.3 million metric tonnes, surpassing the previous record of 30.9 million metric tonnes set in 2020. Across all of Canada, CNI shipped more than 32.7 million metric tonnes of grain, exceeding the prior all-time record of 32.25 million metric tonnes established in 2024.