Market Signal Briefing

On December 12, 2025, a contentious issue has emerged within the Aave community following claims that transaction fees from Aave Labs’ recent partnership with CoW Swap are allegedly bypassing the decentralized autonomous organization (DAO) treasury. This controversy ignites a broader debate about the transparency and governance within decentralized finance (DeFi) protocols.

The dispute was triggered by an Aave delegate’s assertion that swap fees generated from the integration with CoW Swap were not being funneled into Aave’s DAO treasury as expected. The delegate argued that the current arrangement undermines the decentralized governance model, which is a foundational principle of Aave and many other DeFi platforms. This development has stirred concern among community members who worry about the potential centralization of power within Aave Labs.

Aave, a pioneer in the DeFi ecosystem, is recognized for its lending platform where users can borrow and lend a wide range of cryptocurrencies without intermediaries. The project, which launched in 2017, has grown significantly alongside the broader DeFi market, which was valued at approximately $80 billion in 2021. Aave’s governance model, facilitated by its native token AAVE, enables token holders to propose and vote on changes within the protocol.

The integration with CoW Swap, a decentralized exchange protocol known for its focus on reducing slippage and optimizing trade execution, was initially celebrated for its potential to enhance user experience on Aave. By leveraging CoW Swap’s capabilities, Aave aimed to offer its users more efficient trading options, potentially increasing user engagement and protocol revenue. However, the current controversy over fee distribution raises questions about the actual financial benefits of this partnership for the Aave community.

Community members and stakeholders are now scrutinizing the terms of the CoW Swap integration. The lack of transparency around fee distribution has fueled speculation about Aave Labs’ motives and whether the integration was designed to benefit the company more than the community. This has led to calls for greater clarity on the financial arrangements and a push for a reevaluation of governance processes to ensure they remain inclusive and representative of all stakeholders.

Aave Labs, the founding organization behind the protocol, has responded to the allegations by stating that the integration with CoW Swap was conducted with the best intentions for the community at large. The company emphasized that discussions were ongoing to resolve the concerns and ensure that the benefits of the integration are equitably shared. However, critics argue that without a transparent mechanism for fee distribution, the integration might inadvertently centralize benefits, contradicting the decentralized ethos that Aave and similar platforms stand for.

This situation at Aave is not isolated. Across the DeFi landscape, governance disputes have surfaced as protocols scale and integrate new technologies. The rapid evolution of the industry often outpaces the ability of existing governance structures to adapt, leading to friction between founding teams and the broader community of token holders.

In historical context, Aave’s current predicament mirrors challenges faced by other decentralized projects that have grown substantially. Ethereum, one of the most prominent blockchain platforms, has also encountered governance issues, particularly during its 2016 DAO incident that resulted in a hard fork, creating Ethereum and Ethereum Classic. These events highlight the complexity of maintaining decentralization while pursuing growth and innovation.

A counterpoint to the current criticism is that integrations like that of CoW Swap are essential for the continuous improvement and competitiveness of DeFi protocols. In an industry characterized by rapid technological advancements and intense competition, failing to adopt new features could result in stagnation or loss of market share. Proponents argue that as long as there is a commitment to refining governance processes, such partnerships could bring long-term value.

Looking forward, the Aave community faces the challenge of balancing innovative growth with the maintenance of a robust and transparent governance framework. Addressing these governance issues is crucial not only for Aave’s future but also for setting a precedent in the broader DeFi ecosystem. As the industry continues to mature, finding effective ways to integrate new technologies while preserving decentralized governance will be pivotal.

Regulatory landscapes are also evolving, with governments around the world increasingly scrutinizing cryptocurrency projects. These regulatory pressures add another layer of complexity to governance challenges, as DeFi protocols must navigate compliance while upholding their decentralized principles. In the case of Aave, ensuring that its governance structures are both transparent and adaptable can help mitigate regulatory risks and bolster confidence among users and investors.

In conclusion, the Aave-CoW Swap integration controversy underscores the growing pains of decentralized finance projects as they scale and integrate new solutions. While the integration’s financial implications remain under scrutiny, the broader issue of governance transparency and community engagement takes center stage. As Aave Lab works towards resolving these challenges, the outcome will likely influence not only its own future but also provide valuable lessons for the DeFi sector at large.

Post Views: 4

XRP price continued its recent downtrend even after the Office of the Comptroller of the Currency granted Ripple Labs a conditional approval for a banking charter, and ETF inflows continued.

Summary

XRP price is stuck in a technical bear market after falling by ~45% from the year-to-date high.
OCC granted Ripple Labs a national banking charter.
The charter allows the company to offer custody services.

Ripple (XRP) token dropped to a low of $1.980, continuing a downtrend that started in July when it peaked at $3.6600. 

SEC grants Ripple Labs a banking license
The XRP price has dropped despite having some important news. One of the most important events happened on Friday, when the OCC granted Ripple Labs a conditional licence to run its trust bank. In a letter addressed to Brian Spahn, Ripple’s Senior Director of Compliance, the OCC said:

“The OCC has granted preliminary conditional approval only. Final approval and authorization for the Bank to commence business will not be granted until all pre-opening requirements are met.”

Receiving the banking licence is important for Ripple as it means that it can now start to diversify its revenue sources. For example, it may start to offer custody solutions to companies it bought this year, like GTreasury and Hidden Road. 

Additionally, the company will likely transition its Ripple USD (RLUSD) cash from BNY Mellon to its bank. Such a move will likely save it millions of dollars in custody fees in the long term.  

XRP price has also dropped even after the Securities and Exchange Commission approved several ETFs. Just this week, it approved the 21Shares XRP ETF, a move that will likely increase demand. 

All the existing XRP ETFs, including REX-Osprey’s XXRP, have had over $1 billion in inflows. They have never had a day of outflows, which is a major accomplishment and is a sign of resilient demand.

XRP price has also declined even as the Ripple USD gained over $1.3 billion in assets and the company achieved a $40 billion valuation. This drop is because of the broader crypto market crash, which has affected all tokens.

XRP price technicals suggest more downside 
XRP price chart | Source: crypto.news
The daily chart shows that the XRP price remains under pressure this year. It has remained below the descending trendline that connects the highest points since Oct. 2. 

The coin has moved below the 50-day moving average and the Supertrend indicator. Most importantly, it has lost the important support at $2.0.

Therefore, the most likely XRP price forecast is bearish, with the key target being at $1.5625, the ultimate support of the Murrey Math Lines tool. This price is ~20% below the current level.

CryptoNews

Regulators Greenlight DTCC Unit for Tokenization of U.S. Securities Starting 2026

TL;DR SEC Approval: DTC secured a No-Action Letter from the SEC, granting a three-year window to tokenize U.S. securities starting in 2026. Market Benefits: Depository

Companies

Coinbase Eyes Wednesday Rollout of Prediction Markets, Tokenized Stock Trading, According to Bloomberg

TL;DR Coinbase will launch prediction markets and tokenized stocks on December 17, with the infrastructure already developed. The company joined the Coalition for Prediction Markets

flash news

JPMorgan Orchestrates Galaxy Bond Issuance on the Solana Blockchain

JPMorgan Chase structured, distributed, and settled a $50 million short-term bond for Galaxy Digital on the Solana blockchain, a key step in integrating crypto with

CryptoCurrency News

From Bolívares to Blockchain: Venezuela’s Economy Turns to Crypto Amid Illegal Sanctions Pressure

TL;DR Crypto lifeline: Venezuelans increasingly rely on USDT and peer-to-peer platforms for payroll, remittances, and daily transactions. Resilient markets: Informal exchanges and hybrid wallet systems

flash news

Tether Launches QVAC Health, an AI-Powered App

Tether announced this Wednesday a significant strategic expansion into the health and artificial intelligence (AI) sectors with the launch of its new application, QVAC Health.

Real World Assets (RWA) News

Mubadala Capital Eyes Tokenized Private Market Access in Abu Dhabi

TL;DR Abu Dhabi is testing a digital infrastructure designed to open institutional access to private-market strategies through tokenization. Mubadala Capital is working with Kaio to

Key NotesVivoPower's partnership with Seoul-based Lean Ventures establishes a $300 million investment vehicle for Ripple Labs preferred shares.The deal targets South Korea's market, which holds the world's largest XRP position by value and trading volume.VivoPower anticipates $75 million in fees over three years while gaining indirect exposure to Ripple's valuation growth.
VivoPower International PLC announced the execution of a definitive $300 million joint venture agreement with Lean Ventures, marking one of the company’s most significant digital asset initiatives to date. The deal, unveiled on December 12, will allow the parties to acquire and hold a substantial portfolio of Ripple Labs shares through a newly established, South Korea-focused investment vehicle.

Lean Ventures, a licensed and prominent asset manager based in Seoul, will structure and manage the investment vehicle targeting $300 million worth of Ripple Labs equity. The firm already oversees funds for the Government of South Korea and several private limited partners, giving it a strong institutional base for the venture.

VivoPower Finalizes $300M Ripple Share Acquisition Deal
According to the announcement, Lean Ventures has also canvassed interest from both institutional and retail investors in South Korea, potentially including K-Weather. VivoPower is currently finalizing due diligence on acquiring an initial 20% stake in K-Weather as part of its strategy to expand its footprints within the region.

Under the agreement, Vivo Federation, VivoPower’s digital asset investment arm, will originate and secure Ripple Labs shares on behalf of the fund. The company confirmed receiving written approval from Ripple Labs to purchase an initial tranche of preferred shares. Negotiations are ongoing for additional purchases from existing institutional shareholders, enabling the vehicle to reach its full $300 million target.

VivoPower expects to generate $75 million in management and performance fees over three years based on the initial fund size. The joint venture structure also grants VivoPower indirect economic exposure to potential future gains in Ripple Labs’ valuation and underlying XRP

XRP
$2.01

24h volatility:
0.2%

Market cap:
$121.32 B

Vol. 24h:
$2.99 B

holdings.

Adam Traidman, Chairman of VivoPower’s Advisory Council, emphasized the strategic relevance of the South Korean market’s status as the world’s largest holder of XRP by both value and volume. He added that the partnership will offer Korean investors discounted access to Ripple Labs shares relative to XRP spot pricing. Lean Ventures’ Managing Partner Chris Kim echoed the sentiment, citing strong national demand for Ripple-linked investment products.

Founded in 2014 and listed on Nasdaq since 2016, VivoPower reported a 13% intraday surge in its share price to $2.88 following the announcement, according to Yahoo Finance data. Meanwhile, XRP remained flat near $1.98 as traders digested recent crypto-market volatility and rotation-driven losses.

VivoPower reported a 13% intraday surge | Yahoo Finance

Crypto Traders Lean Bullish as Maxi Doge Presale Nears $4.6M Target
As institutional investors like VivoPower expand their crypto portfolios with strategic plays on established assets like XRP, retail traders are turning to high-risk, high-reward opportunities in the meme coin sector and projects like Maxi Doge a meme-based leverage trading ecosystem that combines social entertainment with aggressive yield potential.

The Maxi Doge presale has now exceeded $4.3 million, nearing its $4.6 million target. The project, offering up to 1000x leverage with no stop-loss restrictions, has attracted attention from traders seeking amplified exposure to crypto market movements.

Maxi Doge presale

Each MAXI token is currently priced at $0.00027, with the next pricing tier expected to unlock within hours. Interested buyers can visit the official Maxi Doge presale website to secure early allocation and access exclusive early-joiner bonuses.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Market News

Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.

Ibrahim Ajibade on LinkedIn

Investors might want to bet on China Resources Power Holdings Co. (CRPJY - Free Report) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for China Resources Power Holdings is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for China Resources Power Holdings imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for China Resources Power HoldingsThis company is expected to earn $6.08 per share for the fiscal year ending December 2025, which represents no year-over-year change.

Analysts have been steadily raising their estimates for China Resources Power Holdings. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.5%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of China Resources Power Holdings to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Investors might want to bet on Stock Yards Bancorp (SYBT - Free Report) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.

Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for Stock Yards is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Stock Yards imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.

Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Stock YardsThis holding company for Stock Yards Bank & Trust Co. is expected to earn $4.71 per share for the fiscal year ending December 2025, which represents no year-over-year change.

Analysts have been steadily raising their estimates for Stock Yards. Over the past three months, the Zacks Consensus Estimate for the company has increased 2.6%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Stock Yards to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Investors might want to bet on Elanco Animal Health Incorporated (ELAN - Free Report) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for Elanco Animal Health is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Elanco Animal Health imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.

Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Elanco Animal HealthThis company is expected to earn $0.93 per share for the fiscal year ending December 2025, which represents no year-over-year change.

Analysts have been steadily raising their estimates for Elanco Animal Health. Over the past three months, the Zacks Consensus Estimate for the company has increased 5.3%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Elanco Animal Health to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Braze, Inc. (BRZE - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.

The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.

As such, the Zacks rating upgrade for Braze is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

For Braze, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for BrazeFor the fiscal year ending January 2026, this company is expected to earn $0.41 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for Braze. Over the past three months, the Zacks Consensus Estimate for the company has increased 2.3%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Braze to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Investors might want to bet on Amer Movil (AMX - Free Report) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.

The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for Amer Movil is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

For Amer Movil, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Amer MovilFor the fiscal year ending December 2025, this telecommunications company is expected to earn $1.51 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for Amer Movil. Over the past three months, the Zacks Consensus Estimate for the company has increased 6.9%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Amer Movil to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Key Takeaways Regions Financial approved a new $3B repurchase plan effective January 2026 through December 2027.The authorization replaces the current plan, under which 61M shares were repurchased.Repurchases will vary based on market conditions, capital generation, and loan growth.
Shares of Regions Financial Corporation (RF - Free Report) gained nearly 5.3% following the announcement of a new share repurchase program on Wednesday. The company's board of directors approved a new share repurchase program worth up to $3 billion of its common stock. The authorization should be effective from Jan. 1, 2026, and will remain in place through Dec. 31, 2027.

This new authorization will supersede the existing program, which is set to expire on Dec. 31, 2025. As of Sept. 30, 2025, RF had already repurchased approximately 61 million shares for $1.3 billion under that plan.

The timing and amount of repurchases will depend on factors such as market conditions, internal capital generation, and capital consumed through loan growth or other uses. Repurchases may be executed through open-market transactions, accelerated share repurchase agreements, or privately negotiated deals, including those conducted under Rule 10b5-1 programs.

RF's Other Capital Distribution ActionsApart from buybacks, Regions Financial continues to return capital through dividends. In July 2025, the company increased its quarterly common stock dividend by 6% to 26 cents per share. Over the last five years, RF has raised its dividend five times, with a five-year annualized dividend growth rate of 13.37%.

Based on yesterday’s closing price of $27.84, the company’s annualized dividend yield stands at 3.81%, well above the industry average of 2.33%. This reflects an attractive income stream for shareholders.

Dividend Yield
Image Source: Zacks Investment Research

RF’s liquidity position also remains sound. As of Sept. 30, 2025, the company reported $62 billion in liquidity sources, while total debt stood at $6.08 billion. Given its solid liquidity profile, the company is expected to continue with efficient capital distribution activities.

RF’s Price Performance and Zacks RankShares of RF have gained 10.4% against the industry’s 1.3% decline over the past year.

Price Performance
Image Source: Zacks Investment Research

Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Share Buyback Announcements by Other Finance FirmsA few days ago, Ally Financial Inc.’s (ALLY - Free Report) board of directors authorized a multi-year share repurchase program to repurchase shares worth up to $2 billion. The buybacks will begin this quarter, and the program does not have a set expiration date.

Although ALLY has not repurchased any shares since 2023, the company is expected to be able to sustain enhanced capital distributions in the future, supported by its robust liquidity position and earnings strength.

Last week, Raymond James Financial, Inc. (RJF - Free Report) announced a new share repurchase program alongside an 8% increase in quarterly cash dividends.

Under the buyback plan, RJF will be able to repurchase up to $2 billion worth of shares. The plan does not have an expiration date. This new program will replace the existing share repurchase plan of $1.5 billion, announced in December 2024. As of Dec. 2, 2025, roughly $105 million shares were available for repurchase.

By

PYMNTS
 | 
December 12, 2025

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Target has opened a concept store that the retailer said is part of its “design-driven future.”

The new Target SoHo officially opened Tuesday (Dec. 9) in New York City, the company said in a press release.

Target SoHo features a “Curated By” area that displays the favorite Target finds of influential voices in fashion and lifestyle; a showcase called “The Drop” that spotlights new collections of fashion, beauty, home and lifestyle items each month; a “Broadway Beauty Bar” that includes beauty products curated by top talent in the beauty space; and a “Gifting Gondola” that showcases exclusive merchandise in a “photo-ready installation,” according to the release.

In another article about the concept store, Target said that for December, The Drop includes two sections: “The Gift of Doing Nothing,” which includes sleep and lounge items, skincare gifting sets and books, and “Haute Hostess,” which spotlights party dresses, glasses, ornaments and other products for a holiday party.

In 2026, Target plans to expand the concept store’s offerings to include new experiential zones, seasonal activations, and café and event programming, per the release.

“This store is a bold reflection of our commitment to style, and it’s just one part of our larger investment in Target’s design-driven future that grows our roots even deeper in New York City,” Cara Sylvester, executive vice president and chief guest experience officer at Target, said in the release.

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Michael Arrington, director, guest marketing strategy at Target, said in the article: “This store is all about creating a destination where guests can explore, experiment and connect with Target in a whole new way.”

The retailer said in the release that Target SoHo is guided by incoming CEO Michael Fiddelke’s “vision to put style and design at the company’s forefront.”

Target announced in August that Fiddelke, the retailer’s chief operating officer and former finance chief, will begin serving as CEO on Feb. 1, 2026. It was reported at the time that his goals include reaffirming Target’s reputation as a place to get stylish, unique items.

During an Aug. 20 earnings call, Fiddelke said: “I know we’re not realizing our full potential right now, and so I’m stepping into the role with a clear and urgent commitment to build new momentum in the business and get back to profitable growth.”

PYMNTS reported Tuesday that during Black Friday, Target made modest gains among financially secure shoppers due to its image as a more upscale version of Walmart, albeit with a leaner, curated selection of goods.

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PUCT approves Cypress to Legend 500 kV transmission line, marking completion of all major project approvals for the year – to benefit all customers 

, /PRNewswire/ -- As Southeast Texas experiences rapid growth, Entergy Texas is investing in a stronger, more reliable power grid to support the region's expanding communities and economy. Through its long-term Southeast Texas Energy Plan, known as STEP Ahead, the company is advancing major projects that will enhance reliability, and strengthen the grid to ensure the region is prepared for future energy demands — all while keeping rates as low as possible.

On Friday, the Public Utility Commission of Texas or PUCT, approved Entergy Texas' Cypress to Legend 500-kV transmission line, a project spanning approximately 41 miles through Hardin and Jefferson counties. This decision follows the recent approval of the Southline-Jacinto transmission line and marks the completion of all major project approvals Entergy Texas planned for this year. Together, these projects will help strengthen the grid to meet the power needs of our growing region and improve the system to be more reliable and resilient.

"These projects are about positioning Southeast Texas for the growth ahead and supporting job creation," said Eliecer Viamontes, CEO of Entergy Texas. "By planning ahead and working closely with local leaders and community partners, our team is delivering on our commitment to strengthen the power grid, while keeping costs as low as possible for all of our customers."

With today's approval, Entergy Texas has secured all key 2025 approvals under STEP Ahead — signifying strong progress in moving major reliability projects from planning into construction.

Highlights this year that benefit Entergy Texas' customers include:

Texas Future Ready Resiliency Plan, Phase I: A $137 million effort to harden the grid against extreme weather, lower storm restoration costs and reduce outages over time.
Legend and Lone Star power stations: Adding new, 24/7 dispatchable power generation resources to help meeting growing energy needs and support thousands of construction jobs across the region.
SETEX 500-kV transmission line: Improving reliability and routing power efficiently to fast-growing communities across Southeast Texas.
Texas Energy Fund grant: $200 million in state funding to bolster grid resilience and reliability at no added cost to customers.
Legend–Sandling 230-kV transmission line: Providing essential power to support industrial growth, including Sempra's Port Arthur LNG facility.
Southline-Jacinto 138-kV transmission line: Supporting new development and everyday electricity demands as more families and businesses move into our region.

As these projects move into construction and more work begins in 2026, Entergy Texas will continue focusing on delivering energy that is affordable, reliable, and sustainable. Through long-term planning, strategic investments and close collaboration with state and local partners, we're committed to staying a STEP Ahead of Southeast Texas' growing energy needs.

To learn more about STEP Ahead, visit EntergyTexasStepAhead.com.

About Entergy Texas
Entergy Texas provides electricity to approximately 524,000 customers in 27 counties. Entergy Texas is a subsidiary of Entergy Corporation. Entergy produces, transmits and distributes electricity to power life for 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. Its customers are connected to the Midcontinent Independent System Operator Inc. power grid, which is a regional transmission organization responsible for administering the transmission systems of member utilities in 15 states stretching across the central region of the United States and Manitoba, Canada. We're investing for growth and improved reliability and resilience of our energy system while working to keep energy rates affordable for our customers. We're also investing in cleaner energy generation like modern natural gas, nuclear and renewable energy. A nationally recognized leader in sustainability and corporate citizenship, Entergy delivers more than $100 million in economic benefits each year to the communities we serve through philanthropy, volunteerism and advocacy. Entergy is a Fortune 500 company headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. Learn more at EntergyTexas.com and connect with @EntergyTX on social media.

SOURCE Entergy Corporation

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Cintas (CTAS - Free Report) . This company, which is in the Zacks Textile - Apparel industry, shows potential for another earnings beat.

When looking at the last two reports, this uniform rental company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 1.35%, on average, in the last two quarters.

For the most recent quarter, Cintas was expected to post earnings of $1.19 per share, but it reported $1.2 per share instead, representing a surprise of 0.84%. For the previous quarter, the consensus estimate was $1.07 per share, while it actually produced $1.09 per share, a surprise of 1.87%.

Price and EPS Surprise

Thanks in part to this history, there has been a favorable change in earnings estimates for Cintas lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Cintas has an Earnings ESP of +1.21% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on December 18, 2025.

With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Chewy Today

$33.59 -0.58 (-1.70%)

As of 01:20 PM Eastern

This is a fair market value price provided by Polygon.io. Learn more.

52-Week Range$29.83▼

$48.62P/E Ratio70.00

Price Target$46.72

Chewy’s NYSE: CHWY fiscal year 2026 (FY2026) Q3 results highlight why it is a good buy to hold in 2026. The company is outperforming expectations and lifting guidance amid a business growth spurt and improving operational quality. Operational quality is a critical factor as Chewy produces profits, has free cash flow, and buys back shares. The Q3 activity aided a 1.6% year-to-date (YTD) reduction in share count, and the aggressive pace is expected to continue in the upcoming quarters. What is also likely is that this company will continue to perform at the high end of its industry, take market share, improve its quality, and drive its share price higher. 

The technical outlook in mid-December is favorable. The Q3 release triggered a mild after-hours sell-off, but it was a knee-jerk reaction to soft guidance that was later viewed as cautious. The critical detail is that after-hours weakness turned to strength in the open session, with the stock price advancing more than 4% quickly after the bell. The takeaway is that this market is a little skittish, but has solid support at the cluster of moving averages, aligning with a market reversal that began in 2024. The likely outcome is that CHWY stock will continue to advance over the coming weeks, months, and quarters, potentially setting a fresh long-term high by mid-year 2026. 

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CHWY's Downside Is Limited by Analysts’ and Institutions’ Strong Support
Chewy Stock Forecast Today12-Month Stock Price Forecast:
$46.72
40.33% Upside

Moderate Buy
Based on 25 Analyst Ratings

Current Price$33.29High Forecast$52.00Average Forecast$46.72Low Forecast$42.00Chewy Stock Forecast Details

The analysts' and institutional activity align with the bullish stock price outlook. The Q4 guidance update did not trigger any price target or sentiment upgrades, but neither did it trigger any reductions. The post-release activity on the day after the release includes several reaffirmed ratings and price targets, which affirm the bullish trend. 

The bullish analysts’ trend includes increased coverage and firmer sentiment than in the previous year, a solid Moderate Buy rating from 25 analysts, and an upward price target trend. The price target is a critical factor, implying a 45% upside and potential to reach long-term highs. At approximately $47, the mid-December consensus is 11% short of the highs, an easy move, assuming that upcoming reports continue the existing business trends. 

The institutions own more than 90% of CHWY stock and has been contributing to market volatility. However, selling in Q3 is offset by a shift to buying in Q4 and a generally bullish stance for the year. The data tracked by MarketBeat shows that institutions accumulated CHWY stock at a pace of $3 bought for each $1 sold, providing solid support, as indicated by the price action. 

Chewy’s Strong Q3 Suggests Q4 Guidance Is Overly Cautious
Chewy had a great Q3 with revenue growing by 8.3% and outpacing MarketBeat’s consensus estimate. The strength was driven by a 4.9% increase in active customers and revenue per customer, with the all-important autoship segment leading the way. Autoship is critical as it provides a visible revenue stream that grew by 13.6% year-over-year, accounting for 83.9% of revenue, up 390 basis points from last year. 

Margin news is also good. The company’s top-line strength, operational quality, and improving customer quality drove margin gains at all levels. The results include a 180-basis-point improvement in net margin, a 100-basis-point improvement in adjusted EBITDA margin, and a 59% increase in adjusted net income. Other critical factors include the free cash flow, which grew at an accelerated 16% pace compared to the top line. 

As for guidance, it isn’t bad, just in alignment with consensus figures, which have trended higher over the past few months. In this light, it is slightly below expectations, which were for outperformance. Either way, the company is growing faster than its competitors and driving value for its investors. Equity, a measure of shareholder value, increased by 80% YTD at the end of Q3. 

Should You Invest $1,000 in Chewy Right Now?Before you consider Chewy, you'll want to hear this.

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About Angela Harmantas
Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. She earned a Bachelor of... Read more

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Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists.

Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth.

We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors.

The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies.

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SoFi's 82% surge in six months spotlights soaring profitability, record loan growth and sharply raised 2025 guidance that could keep momentum alive.

Kevin Mayer, Candle Media CEO, former TikTok CEO, and former Disney senior executive, joins 'Money Movers' to discuss the new Disney-OpenAI deal, how Hollywood might perceive it, and more.

RADNOR, Pa.--(BUSINESS WIRE)-- #classaction--The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against DexCom, Inc. (“DexCom”) (NASDAQ: DXCM) on behalf of those who purchased or otherwise acquired DexCom securities between July 26, 2024, and September 17, 2025, inclusive (the “Class Period”). The lead plaintiff deadline is December 26, 2025. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you suffered DexCom losses,.

NEW YORK--(BUSINESS WIRE)--Pfizer Inc. (NYSE: PFE) today announced that its board of directors declared a $0.43 first-quarter 2026 dividend on the company's common stock, payable March 6, 2026, to holders of the Common Stock of record at the close of business on January 23, 2026. The first-quarter 2026 cash dividend will be the 349th consecutive quarterly dividend paid by Pfizer. About Pfizer: Breakthroughs That Change Patients' Lives At Pfizer, we apply science and our global resources to brin.

The European Medicines Agency has recommended granting a conditional marketing authorization for ImmunityBio, Inc.‘s (NASDAQ:IBRX) Anktiva (nogapendekin alfa inbakicept) in combination with Bacillus Calmette-Guérin (BCG) for BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) carcinoma in situ.

The decision was based on a review of the results of a single-arm clinical trial in 100 adults with BCG-unresponsive NMIBC who received Anktiva in combination with BCG.

In 71% of patients, signs of cancer disappeared (complete response rate) with responses ranging up to 54+ months; these responses lasted for approximately 27 months on average.

Also Read: ImmunityBio Slapped With FDA Refusal To File Letter For Expanded Use Of Its Bladder Cancer Drug

The complete response rate of responders at 12 months was 66% and at 24 months was 42%.

As part of the recommendation, ImmunityBio will continue to follow up with trial participants and submit long-term safety and efficacy post-marketing results to the EMA.

Anktiva has been recommended for conditional marketing authorization, an EU regulatory mechanism that facilitates early access to medicines addressing an unmet medical need.

Bladder cancer ranks as the fifth-most common cancer and the seventh most frequently diagnosed cancer in men.

The European Association of Urology and World Bladder Cancer Patient Coalition estimate that more than 200,000 patients will be diagnosed with bladder cancer in 2025.

Approximately 75% of these patients (150,000) will have NMIBC, which is cancer that has grown only on the lining of the bladder and not into the muscle layer underneath, and is the most common form of bladder cancer.

The pathway allows the EMA to recommend marketing authorization when the benefit of a medicine’s immediate availability to patients outweighs the potential risks associated with the data, in this case, from a single-arm trial. The EMA’s opinion will now be forwarded to the European Commission for final approval of EU-wide marketing authorization.

IBRX Price Action: ImmunityBio shares were up 2.74% at $2.25 at the time of publication on Friday, according to Benzinga Pro data.

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Key Takeaways LULU beat Q3 revenue and EPS estimates, with 7.1% y/y sales growth and stronger international momentum.Margins contracted on higher markdowns, tariff impacts and increased SG&A expenses in the quarter.LULU raised its FY25 revenue and EPS outlook, supported by continued strength in Mainland China.
lululemon athletica inc. (LULU - Free Report) reported third-quarter fiscal 2025 results, wherein revenues and earnings per share (EPS) beat the Zacks Consensus Estimate. The company’s top line improved year over year, driven by gains in the international business. Meanwhile, the bottom line declined year over year, owing to soft margins, which were impacted by higher markdowns, tariff impacts and elevated SG&A expenses.

lululemon’s fiscal third-quarter earnings per share (EPS) of $2.59 declined 9.8% from $2.87 in the prior-year quarter. However, the bottom line surpassed the Zacks Consensus Estimate of $2.22.

The Vancouver, Canada-based company’s quarterly revenues rose 7.1% year over year and on a constant-dollar basis to $2.57 billion and beat the Zacks Consensus Estimate of $2.48 billion. On both the reported and constant-dollar basis, net revenues declined 2% in the Americas and increased 33% internationally.

Total comparable sales (comps) rose 1% year over year and improved 2% on a constant-dollar basis. Comps in the Americas declined 5% on both the reported and constant-dollar basis. Internationally, comps increased 18% on both the reported and constant-dollar basis. Our model predicted a comps decline of 2.6% for the fiscal third quarter.

The Zacks Rank #3 (Hold) company has rallied 16.9% in the past three months against the Textile - Apparel industry’s 1.9% decline.

Image Source: Zacks Investment Research

LULU’s Q3 Earnings OverviewWithin the Americas segment, revenues declined 1% year over year in Canada (flat in constant currency), and 3% in the United States, on both the reported and constant-dollar basis. In the International segment, revenues rose 46% in Mainland China (47% in constant currency) and 19% in the Rest of the World, on both the reported and constant-dollar basis. Comps improved 24% in Mainland China (25% in constant currency) and 9% in the Rest of the World, on both the reported and constant-dollar basis, in the fiscal third quarter.

In the store channel, the company’s total sales were flat year over year, on a constant-dollar basis. Digital revenues improved 13% year over year, contributing $1.1 billion, or 42%, to the total revenues.

The gross profit improved 2% year over year to $1.43 billion. The gross margin contracted 290 basis points (bps) to 55.6%, primarily affected by a 290-basis-point (bps) decline in the product margin, led by increased markdowns and tariff impacts. Notably, markdowns increased 90 bps, while currency headwinds had a 10-bps negative impact. These headwinds were partly offset by a 10-bps benefit from other smaller items in the gross margin. We expected the gross margin to contract 410 bps year over year to 54.4% for the fiscal third quarter.

However, management noted that the gross margin outperformed its guidance of a 410-bps decline, fueled by a stronger-than-expected top line, a lighter net tariff impact and disciplined control of fixed costs within the gross margin.

SG&A expenses of $988.3 million increased 8.6% from the year-ago quarter. SG&A expenses, as a percentage of net revenues, of 38.5% rose 50 bps from 38% in the prior-year quarter. The increase in SG&A expense rate was favorable versus the company’s guidance of a 150-bps increase. The better-than-expected SG&A rate was driven by prudent expense management.

Our model predicted SG&A expenses to rise 8.3% year over year for the fiscal third quarter, with a 150-bps increase in the SG&A expense rate to 39.5%.

The operating income declined 11% year over year to $435.9 million in the fiscal third quarter. The operating margin of 17% contracted 350 bps year over year. Our model predicted a 24.4% year-over-year decline in adjusted operating income to $371.1 million. We estimated the operating margin to decline 560 bps year over year to 14.9%.

Snapshot of lululemon’s Store PlansIn third-quarter fiscal 2025, LULU opened 12 net new stores, including 14 store openings and two closures. As of Feb. 1, 2026, it operated 796 stores.

In the fourth quarter of fiscal 2025, the company expects to open 17 net new company-operated stores and complete eight store optimizations. For fiscal 2025, lululemon expects 46 net new company-operated stores, which is above the prior view of 40-45 net new store openings. It expects to complete 36 co-located optimizations compared with 35 optimizations mentioned earlier.

LULU expects overall square footage growth in the low-double digits for fiscal 2025. Store openings in fiscal 2025 are expected to include 15 stores in the Americas, including about nine locations in Mexico. The rest of the store openings in fiscal 2025 are expected to occur in the international markets, primarily in China.

LULU’s Other Financial Detailslululemon exited third-quarter fiscal 2025 with cash and cash equivalents of $1 billion and no debt. The company had $593 million of capacity under its committed revolving credit facility and stockholders’ equity of $4.5 billion. At the end of the third quarter of fiscal 2025, the company’s inventories rose 11% year over year to $2 billion, with inventory units improving 4%. The capital expenditure was $167 million in the fiscal third quarter.

In the fiscal third quarter, lululemon repurchased 1 million shares for $189 million, at an average price of $181. As of Dec. 3, 2025, LULU approved a $1-billion increase to its share repurchase program. Including the new approval, the company had $1.6 billion remaining under its share repurchase authorization as of Dec. 11, 2025.

For the fiscal fourth quarter, the company anticipates dollar inventory to increase in the high-teens and inventory per unit to increase in the high-single-digits, driven by higher tariffs and adverse currency rates.

lululemon’s Targets for Q4 & FY25LULU raised its revenue and EPS guidance for fiscal 2025. LULU anticipates net revenues of $10.96-$11.05 billion for fiscal 2025 compared with the $10.85-$11 billion stated earlier. This indicates 4% year-over-year growth versus the previously mentioned rally of 2-4%. Excluding the 53rd week in 2024, revenues are expected to rise 5-6% compared with 4-6% growth mentioned earlier.

On a segmental basis, the company expects Americas revenues to be flat to down 1%, reflecting a 1% decline in the United States and nearly stable performance in Canada. Internationally, management projects Mainland China revenues to be at or above the high-end of its guidance of 20-25% increase, while revenues for the Rest of the World are expected to increase in the high-teens.

In Mainland China, the company’s fiscal third-quarter results were strong and exceeded expectations. However, management noted that the two calendar shifts, including the earlier start of the 11/11 events, which aided the fiscal third quarter, and a later Chinese New Year compared with last year, will weigh on the fiscal fourth-quarter performance. As a result, management expects fiscal fourth-quarter revenue growth to be below the fiscal third-quarter pace.

lululemon expects a 270-bps year-over-year decline in the gross margin compared with the previously mentioned 300-bps fall. The variance from the prior guidance is mainly due to the lower estimated tariff impacts. Additionally, the company anticipated markdowns of 70 bps compared with the prior stated 50 bps.

The SG&A expense rate is expected to rise 120 bps year over year for fiscal 2025, above the prior mentioned 80-90 bps. While the company continues to manage expenses prudently, it is stepping up marketing investments in the fiscal fourth quarter to drive traffic and strengthen brand awareness.

LULU expects the fiscal 2025 operating margin to contract 390 bps year over year. The company projects an EPS of $12.92-$13.02, suggesting an increase from the $14.64 reported in fiscal 2024. The revised EPS view marks an increase from $12.77-$12.97 projected earlier. The company anticipates an effective tax rate of 30% for fiscal 2025. lululemon expects capital expenditure to be near the low-end of the prior view of $700-$720 million for fiscal 2025.

For the fourth quarter of fiscal 2025, management anticipates net revenues of $3.5-$3.59 billion, indicating a 1-3% year-over-year decline. Including the 53rd week in the fourth quarter of fiscal 2024, the company expects revenue growth of 2-4%. It anticipates a 580-bps year-over-year decline in the gross margin due to higher tariff rates and the removal of the de minimis exemption, along with fixed cost deleverage and continued investment in its multi-year distribution center project. The tariff and de minimis impacts are expected to be 410 bps. Additionally, the company expects a 100-bps year-over-year increase in markdowns.

SG&A, as a percentage of sales, is expected to deleverage 100 bps year over year, driven by higher foundational investments, including related depreciation and strategic initiatives to enhance brand awareness and support growth. The operating margin for the fiscal fourth quarter is expected to decline 680 bps year over year, including a 410-bps impact of tariffs and de minimis.

EPS for the fiscal fourth quarter is expected to be $4.66-$4.76, whereas it reported EPS of $6.14 in the prior-year quarter. LULU estimates an effective tax rate of 30% for the fiscal fourth quarter.

Solid Picks in LULU’s Broader IndustryWe have highlighted three better-ranked stocks from the same industry, namely Crocs Inc. (CROX - Free Report) , Guess?, Inc. (GES - Free Report) and Kontoor Brands Inc. (KTB - Free Report) .

Crocs is one of the leading footwear brands with its focus on comfort and style. CROX flaunts a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Crocs’ 2025 sales and earnings indicates declines of 2.5% and 7.9%, respectively, from the year-ago period’s reported figures. CROX has a trailing four-quarter earnings surprise of 14.3%, on average.

Guess designs, markets, distributes and licenses casual apparel and accessories for men, women and children as per the American lifestyle and European fashion sensibilities. GES has a Zacks Rank #2 (Buy) at present.

The Zacks Consensus Estimate for Guess’ current fiscal-year sales indicates growth of 8% from the year-ago period’s reported figure. The consensus estimate for GES earnings suggests a year-over-year decline of 13.8%. GES has a trailing four-quarter earnings surprise of 45%, on average.

Kontoor Brands, a lifestyle apparel company, designs, produces, procures, markets, distributes and licenses denim, apparel, footwear and accessories, primarily under the Wrangler and Lee brands. KTB currently carries a Zacks Rank #2.

The Zacks Consensus Estimate for Kontoor Brands’ 2025 sales and earnings indicates growth of 19.4% and 12.5%, respectively, from the year-ago period’s reported figures. KTB has a trailing four-quarter negative earnings surprise of 14%, on average.

Marley Kayden breaks down Broadcom (AVGO) earnings and what investors are looking for in the future. The report was “a little more vague” than the Street was looking for, she says, especially in regards to guidance.

ONEOK, Inc. (OKE) 2025 Wells Fargo 24th Annual Energy and Power Symposium December 9, 2025 2:15 PM EST

Company Participants

Pierce Norton - President, CEO & Director
Walter Hulse - CFO, Treasurer and Executive VP of Investor Relations & Corporate Development
Sheridan Swords - Executive VP & Chief Commercial Officer

Conference Call Participants

Michael Blum - Wells Fargo Securities, LLC, Research Division

Presentation

Michael Blum
Wells Fargo Securities, LLC, Research Division

All right. This is the session for ONEOK. You've got to my left, Sheridan Swords, EVP, Chief Commercial Officer. next we've got Pierce Norton, President and CEO; and Walter Hulse, EVP and Chief Financial Officer. So thank you, gentlemen, for joining me. Appreciate it.

Unknown Executive

Thank you, Mike.

Question-and-Answer Session

Michael Blum
Wells Fargo Securities, LLC, Research Division

Welcome. This is open Q&A. So feel free to just raise your hand and any time during the session, and someone will come over with the mic and you can ask a question. So maybe I'll start -- yes, I guess I'd start just high level over the last few years, you've made some pretty significant strategic shifts in the company, diversifying your Bakken concentration, adding more basins, refined products, crude, NGLs, reducing your gas -- natural gas exposure. Maybe you could just talk through that strategic shift that you've undergone at a high level. Do you like where the company is now from a mix of assets, markets, cash flow stability? And is this kind of what you're aiming to get to?

Pierce Norton
President, CEO & Director

Okay. So I'll take that question, Michael. I'd probably start out by saying that in 2021, in the middle of the year, we had decided as a management team that we did need to take a strong look and really assess our competitive advantage. And so I'll kind

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Shares of Oil-Dri Corporation of America (ODC - Free Report) have underperformed the broader market following the release of its first-quarter fiscal 2026 results. Shares of Oil-Dri have declined 6.7% since reporting results for the first quarter of fiscal 2026. This compares to the S&P 500 index’s 0.1% rise over the same time frame. Over the past month, the stock has declined 12.6% against the S&P 500’s 1.2% growth, reflecting investor caution despite the company delivering one of its strongest quarterly profit results on record.

Earnings & Revenue PerformanceFor the first quarter ended Oct. 31, 2025, Oil-Dri reported consolidated net sales of $120.5 million, down 6% from $127.9 million in the year-ago period. The revenue decline followed a record-setting quarter last year, resulting in difficult year-over-year comparisons, particularly in certain product categories.

Net income fell 6% to $15.5 million from $16.4 million a year earlier. Diluted earnings per common share were $1.06, down 6% from $1.13 in the prior-year quarter. Income from operations declined 20% to $17 million, while EBITDA decreased 10% to $23.6 million. Despite these declines, management highlighted that the quarter represented the second-highest quarterly gross profit and net income in the company’s history.

Other Key Business MetricsGross profit for the quarter totaled $35.5 million, representing a 13% decrease from the prior year. The gross margin contracted to 29.5% from 31.9% a year earlier, driven by lower sales volumes and a 3% increase in domestic cost of goods sold per ton.

Selling, general and administrative expenses declined 5% year over year to $18.5 million, supported by lower bad debt expenses, reduced corporate bonus accruals and the absence of a foreign value-added tax assessment that weighed on the prior-year quarter. The reduction in SG&A partially offset pressure from lower volumes and higher per-unit costs.

Operating cash flow for the quarter was $10.3 million compared with $10.9 million in the prior year, while cash and cash equivalents ended the quarter at $42.4 million, down from $50.5 million at the end of fiscal 2025.

Segment Performance & Business DriversThe Business-to-Business Products Group reported net sales of $44.3 million, a 9% decline from last year’s level due to reduced volumes. Segment operating income fell 20% to $13.6 million. Within the segment, fluid purification revenues declined 13% to $26.7 million as demand normalized following elevated renewable diesel filtration activity in the prior year. Animal health revenues from Amlan International dropped 25% year over year to $4.7 million due to lower demand. These declines were partly offset by strong performance in the agricultural business, which posted record quarterly sales of $12.9 million, up 12% year over year, driven by higher demand and pricing for the Verge product line.

The Retail and Wholesale Products Group generated net sales of $76.2 million, down 4% from the prior year, reflecting lower volumes in domestic cat litter and industrial and sports products. Segment operating income declined 7% to $12.4 million, though management noted this result exceeded the prior three quarters and marked the second-highest operating income in the segment’s history.

Domestic cat litter sales, excluding co-packaging, declined 6% year over year, influenced by tough promotional comparisons and increased competitive promotional activity. However, the lightweight cat litter segment continued to outperform the broader category, with sales of Cat’s Pride Antibacterial Clumping Litter increasing 32% year over year.

Management Commentary & Influencing FactorsManagement emphasized that the year-over-year declines were largely expected, given the exceptionally strong performance in the prior-year quarter. Chief executive officer Daniel S. Jaffee pointed to continued execution of growth strategies, disciplined investment and strong cash generation as key positives.

Lower volumes in certain categories, higher per-ton costs and normalization of demand in renewable diesel filtration weighed on the results, while cost controls and growth in agricultural and lightweight cat litter products provided partial offsets. The quarter also benefited from a favorable legal settlement, contributing to a $700,000 net other income compared with $1 million in net expenses in the prior year.

Other DevelopmentsSubsequent to the quarter’s end, Oil-Dri’s board of directors approved a 14% increase in the company’s quarterly cash dividend, marking the second dividend increase in calendar year 2025. The new dividend underscores management’s confidence in the company’s financial position and long-term outlook, supported by consistent profitability and cash generation.