Market Signal Briefing

Tether has launched a new platform that aggregates data from multiple wearables and wellness apps into a single, locally processed dashboard, aiming to give users control over their biometric information.

The platform, called QVAC Health, aggregates data from fitness trackers, nutrition apps and other wearables into an encrypted dashboard that works offline, using on-device AI and peer-to-peer model downloads to analyze activity, meals, symptoms and medication logs without relying on external servers.

The app includes experimental computer-vision tools that can estimate calories and macronutrients from meal photos and can correlate those logs with data from multiple wearables to identify patterns in activity, recovery or sleep, all processed locally on the user’s device, according to a Wednesday announcement.

Source: QVACTether CEO Paolo Ardoino called the platform a “neutral ground for wellness data” that reflects the “company’s commitment to privacy-preserving local intelligence.”

Tether, the world’s largest stablecoin issuer, says future updates will include direct Bluetooth Low Energy connections that will let the app read data from certain wearables without routing information through manufacturer APIs or cloud services.

The platform is part of Tether Data’s QVAC project, which builds peer-to-peer, device-based AI systems designed to operate without relying on centralized platforms.

The global fitness-tracker market was valued at $52.29 billion in 2024 and is projected to grow to $189.98 billion by 2032, according to a Verified Market Research report. Major fitness-tracker manufacturers include Apple, Fitbit, Samsung, and Huawei. 

Privacy concerns drive new developments across cryptoTether’s new platform aligns with comments Ardoino made in 2024, when he argued that running local AI models directly on user devices was the only reliable way to prevent data from being harvested or exposed through centralized servers.

Former White House adviser David Holtzman told Cointelegraph in December 2024 that AI-driven data aggregation and future quantum threats make large data repositories especially vulnerable.

Holtzman noted that AI can rapidly assemble behavioral and transactional data to identify targets more precisely, while future quantum attacks could break today’s encryption standards across sectors. He said decentralized systems can help reduce these risks by avoiding large, centralized data stores.

The evolution of the internet. Source: Dock/CointelegraphThe various threats to privacy have spurred some action in the crypto community. In June, Ethereum co-founder Vitalik Buterin proposed a “pluralistic identity” model — a digital ID approach that lets people prove who they are or qualify for services without exposing all of their personal information.

In December, Fortune reported that Circle is developing a privacy-enhanced stablecoin called USDCx with Aleo, designed to give institutional users banking-level transaction privacy while preserving the ability to furnish compliance records when necessary.

Growing concerns over data exposure and surveillance have also fueled renewed interest in privacy-focused cryptocurrencies, with the Zcash protocol emerging as one of the beneficiaries.

Magazine: Meet the onchain crypto detectives fighting crime better than the cops

In recent developments, Bitcoin is showing signs of renewed vigor, with data indicating a slowdown in the transfer of large holdings to exchanges. According to a report by Cryptoquant, this trend is driven by a reduction in exchange inflows and a depletion of active sellers, suggesting that market volatility may be on the horizon.

Cryptoquant’s analysis reveals that the reduced activity from “whales”—a term used to describe large holders of Bitcoin—could portend a period of price stabilization or even an uptick in value. These holders have been less inclined to transfer their substantial Bitcoin reserves to exchanges, a move often associated with an intent to sell. This behavior shift might be pivotal in influencing market dynamics in the short term. Historically, when whales reduce their market activity, it tends to impact liquidity and volatility, often leading to price surges.

The current market context presents an interesting scenario. Bitcoin, after facing a series of downward pressures, seems to be regaining some of its lost momentum. The last few months have seen Bitcoin navigating turbulent waters, influenced by a variety of macroeconomic factors. Inflation concerns, regulatory measures in key markets like the United States, and fluctuating interest rates have all played roles in shaping Bitcoin’s recent performance.

Yet, the backdrop of this potential rebound is not devoid of challenges. While the current data suggests a temporary easing of selling pressures, the broader cryptocurrency market remains susceptible to sudden shifts. Regulatory developments, particularly in major markets such as the European Union, could introduce new uncertainties. For instance, the EU has been contemplating comprehensive regulations to govern digital currencies, which could impact investor sentiment and market operations.

Moreover, geopolitical tensions and global economic uncertainties continue to weigh on investor confidence. The performance of Bitcoin and other cryptocurrencies often correlates with broader economic indicators, such as stock market trends and fiat currency strength. Any significant economic upheaval could ripple through the crypto markets, influencing Bitcoin’s trajectory.

Cryptoquant’s findings highlight another critical aspect of the current Bitcoin landscape: the behavior of retail investors. As large holders step back, smaller investors may become more influential in determining market trends. Retail investors, often driven by sentiment and media narratives, can contribute to heightened volatility. This dynamic introduces both opportunities and risks, as retail-driven markets can experience rapid fluctuations in response to news and social media trends.

The situation also underscores the importance of understanding the flow of Bitcoin on exchanges. Exchange inflows, a critical metric for market analysts, provide insights into potential selling pressures. A decrease in these inflows, as observed by Cryptoquant, often suggests that selling momentum is waning, paving the way for price stability or appreciation. However, this metric should be interpreted with caution, as it can quickly shift in response to external factors, such as regulatory changes or macroeconomic events.

Looking ahead, the potential for volatility remains a key consideration for investors. While the current data offers a glimpse of optimism, the cryptocurrency market’s inherent unpredictability cannot be overstated. Investors should remain vigilant, considering both the opportunities and risks associated with the evolving landscape. The interplay between large holders, retail investors, and external economic forces will likely continue to shape Bitcoin’s path in the coming months.

The history of Bitcoin is marked by cycles of booms and busts, driven by technological advancements, market adoption, and speculative trading. As the market matures, understanding the nuanced behaviors of different investor groups becomes increasingly critical. Large holders, often perceived as market movers, wield significant influence, but their actions are just one piece of a complex puzzle.

One risk factor to consider is the potential impact of emerging competitors within the digital currency space. As blockchain technology evolves, new cryptocurrencies continue to enter the market, offering unique features or addressing specific industry needs. These innovations could divert attention and investment from Bitcoin, potentially affecting its dominance and market capitalization.

In conclusion, the current analysis by Cryptoquant provides a snapshot of a potentially stabilizing Bitcoin market, influenced by the strategic adjustments of large holders and the ebbing of selling pressures. However, the broader market environment remains intricate and susceptible to rapid changes. Investors and market participants should approach the evolving scenario with a balanced perspective, recognizing both the potential rewards and inherent risks of engaging with the cryptocurrency market. As always, keeping abreast of the latest developments and regulatory changes will be essential for navigating this dynamic financial landscape.

Post Views: 6

Journalist

Posted: December 11, 2025

The U.S. Federal Reserve’s final meeting of the year began on the 9th of December. The CME Group’s Fed Watch tool showed that traders and investors expect a 25 bps rate cut, while assigning only a small probability to a 50 bps cut.

Anticipated rate cuts are expected to boost the economy by lowering borrowing costs. The Fed has maintained this stance in recent months, having already announced cuts in September and October.

In a post on X, Futures trader Ardi pointed out that a rate cut might not be immediately bullish for Bitcoin [BTC]. The 25 bps rate cuts in September and October were followed by a Bitcoin price drop of 8% and 12%, respectively.

Has the FOMC announcement been priced in?
There was a pattern to the move, the analyst explained. Before the actual announcement of the easing rates, the market tends to front-run the expectation.

The actual rally would already have finished by the time of the upcoming FOMC announcement.

Source: BTC/USDT on TradingView

This helped explain the rally on Tuesday that saw Bitcoin gain 5.7% in 12 hours to reach $94k. However, as the 4-hour chart shows, the rally moved up but not beyond the supply zone (red box) in place since mid-November.

The OBV has been slowly trending higher in December. It is unclear if this buying pressure is enough to propel prices higher.

The structure was also bullish on the H4 chart, with a bullish structure break (orange) seen on Tuesday. If the buyers can keep up the pressure, it is possible to breach the $94k resistance.

As the previous post-FOMC BTC dips show, this break might need more time.

Source: BTC/USDT on TradingView

On the 1-hour chart, the bullish pressure remained intact at press time. The imbalance (white box) on this timeframe extended down to $90.6k.

Explaining the bullish Bitcoin scenario
As things stand, the bullish reaction seems delayed. It could be because the market is waiting for macroeconomic news. In this case, a move beyond $96k and a retest of the $94k-$95k area as support would offer a buying opportunity.

Bitcoin traders, stay neutral or lean bearish
The bearish scenario was the more likely outcome. The lack of a strong reaction from the retest of the H1 imbalance around $92.5k suggested that a short-term dip to $90.6k, the low of the gap, is incoming.

Traders should be wary of a move below $90.6k and $89.9k as the first clues of a deeper retracement.

The price dip could go as deep as $88k, or even $84k, before recovery begins. Traders should be prepared for either scenario, but need not rush to open positions right away.

Final Thoughts

The previous rate cut announcements were not followed by strong, sustained Bitcoin price rallies, given the longer-term downtrend in place.
Therefore, traders can remain bearishly biased now until the $96k resistance level is breached.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

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SummaryShopify is rated a 'Buy' with a $185 price target, implying 15% upside and continued market outperformance.Q3 2025 results showed 32% revenue growth and strong free cash flow, but a post-earnings sell-off reflected margin compression concerns.SHOP’s merchant solutions segment drove 38% revenue growth, while subscription solutions also expanded, highlighting a diversified, resilient business model.Despite a premium valuation at 87x–111x forward P/E, SHOP’s low leverage, robust cash position, and leadership in a rapidly growing e-commerce market justify the premium. JHVEPhoto/iStock Editorial via Getty Images

Following my last article on Shopify (SHOP), the stock price appreciated by 3%, roughly in line with the benchmark. I had guided for a $185 price target and was 1% away from the mark, reflecting the Oct. 29

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in SHOP over 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.

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The semiconductor sector delivered extraordinary performance in 2025, with AI-driven demand reshaping the competitive landscape. After analyzing recent quarterly results, profitability metrics, and strategic positioning across major chip stocks, five companies emerged as the sector’s dominant performers that defined this transformative year.

Intel Corporation (INTC)
Intel executed a credible turnaround under challenging conditions. The company reported Q3 2025 revenue of $13.7 billion, up 3% year-over-year, with non-GAAP EPS of $0.23 crushing estimates of $0.01. Client Computing grew 5% to $8.5 billion, while Data Center and AI revenue of $4.1 billion declined 1%.

Intel secured a $2 billion investment from SoftBank and announced a collaboration with NVIDIA, signaling industry validation of its foundry ambitions. However, with gross margins at 38.9% and profit margin of 0.37%, Intel remains in early recovery stages. Q4 guidance of $12.8-13.8 billion revenue suggests continued pressure, but the partnerships demonstrate its technology roadmap is gaining credibility.

Qualcomm Incorporated (QCOM)
Qualcomm’s diversification strategy paid dividends in fiscal 2025. The company posted Q4 revenue of $11.3 billion, up 10% year-over-year, with non-GAAP EPS of $3.00. QCT revenue reached $9.82 billion, up 13%, driven by 18% growth in non-Apple revenues and 17% growth in automotive to $1.05 billion.

The company’s gross margin of 55.3% and profit margin of 12.5% reflect a healthy, diversified business model. With Q1 fiscal 2026 guidance calling for $11.8-12.6 billion in revenue, Qualcomm is successfully reducing smartphone dependence while capturing growth in automotive and IoT markets. The stock trades at a forward P/E of 35.06.

Micron Technology (MU)
Micron delivered a breakout year driven by AI memory demand. Q4 fiscal 2025 revenue hit $11.3 billion, up 46% year-over-year, with non-GAAP EPS of $3.03. Net income surged 261% to $3.20 billion, demonstrating operating leverage as memory prices recovered. Cloud memory revenue reached $4.54 billion, highlighting Micron’s position as a critical AI infrastructure supplier.

The company’s gross margin of 44.7% improved substantially from the prior year’s downturn, with guidance calling for margins exceeding 50% on $12.5 billion in revenue. This represents a complete reversal from the memory market trough. Micron’s profit margin of 22.9% and forward P/E of 33.26 reflect a business hitting its stride as AI data centers demand high-bandwidth memory solutions.

Advanced Micro Devices (AMD)
AMD demonstrated aggressive execution across multiple product lines. Q3 2025 revenue reached $9.2 billion, up 35% year-over-year, with non-GAAP EPS of $1.20 beating estimates of $1.17. Net income jumped 155% to $1.97 billion, though profit margin of 10.3% trails the leaders.

Data Center revenue grew 22% to $4.3 billion, while Client and Gaming surged 73% to $4.0 billion on record Ryzen processor sales. The OpenAI partnership validated AMD’s AI accelerator strategy. With Q4 guidance projecting $9.6 billion in revenue (up 25% year-over-year) and non-GAAP gross margins at 54%, AMD is gaining share in both PC and data center markets.

AMD’s forward P/E of 35.84 versus trailing P/E of 115.43 reveals high market growth expectations. Alpha Vantage data shows quarterly earnings growth of 60.3%, supporting this premium valuation. Notably, 40 of 51 analysts rate AMD as Buy or Strong Buy, with zero sell ratings.

NVIDIA Corporation (NVDA)
Of course, NVIDIA delivered the sector’s most dominant performance in 2025. Q3 fiscal 2026 revenue hit $57.0 billion, up 62% year-over-year, with GAAP EPS of $1.30 beating estimates of $1.27. Net income reached $31.9 billion, up 65%, producing an extraordinary profit margin of 53.0% – five times AMD’s margin and more than double Micron’s.

Data Center revenue of $51.2 billion, up 66% year-over-year, dwarfs the competition. CEO Jensen Huang described Blackwell sales as “off the charts,” with cloud GPUs sold out for the foreseeable future. The company’s gross margin of 73.4% reflects unmatched pricing power in AI accelerators. Q4 guidance of $65 billion (±2%) signals no demand deceleration.

NVIDIA has beaten earnings estimates in eight consecutive quarters, with annual EPS exploding from $0.333 in fiscal 2023 to $3.16 in fiscal 2026 – nearly 10x growth in three years. The stock gained 33.27% year-to-date through December 9, building on a 22,592% return over the past decade. At a market cap of $4.50 trillion and forward P/E of 45.9, NVIDIA commands a premium valuation justified by its dominant position in the AI revolution.

While Reddit discussions in early December reflected debate over valuation and competitive threats from Google’s full-stack AI approach, the fundamentals remain unassailable. NVIDIA’s combination of revenue scale, profitability, and technological leadership positioned it as the sector’s dominant performer in 2025.

Morgan Stanley recently downgraded Tesla (TSLA - Free Report) to Equal Weight from Overweight, with a new $425 price target, citing that the stock's valuation already prices in lofty expectations for AI, robotics, and Full Self-Driving amid slower electric vehicle (EV) adoption and competition. As expected, shares of the EV-maker dipped around 3% on Dec. 8, 2025 (as per a Yahoo Finance report) following the announcement. 

This highlights how vulnerable it can be to invest in a single stock. However, investors in EV-focused exchange-traded funds (ETFs) might take this event as an opportunity to revisit their portfolios, considering that Tesla held 41% of the U.S. EV market as of the third quarter of 2025 (as per data provided by Clean Technica).    

To this end, it is imperative to mention that popular EV ETFs hold auto stalwarts, such as Ford (F - Free Report) , General Motors (GM - Free Report) and Volkswagen (VWAGY - Free Report) , in addition to Tesla, and are all ramping up EV investments. But before discussing how diversified these ETFs are and how they can cushion investors from sudden single-stock volatility, let’s take a closer look at what’s wrong with Tesla, where the company stands in the EV market and what the broader prospects for the EV industry look like. This should help an investor to make an informed decision regarding his or her asset allocation in EV-focused ETFs.

Tesla’s Downgrade & Shifting DominanceMorgan Stanley’s analysts, in addition to downgrading Tesla’s rating, also slashed the company’s delivery forecasts through 2040. Notably, the firm expects Tesla’s delivery volume to decline 10.5% in 2026 and projects an 18.5% reduction in cumulative deliveries through 2040.

This trimmed delivery forecast seems to be the result of Tesla’s eroding dominance in EV market lately. For instance, in China, the world's largest EV market, Tesla's share shrank significantly in late 2025 due to fierce competition from local brands like BYD and Xiaomi.

However, the analysts at Morgan Stanley mentioned that Tesla is "uniquely positioned to be a leader" in the humanoid robot market, thanks to its existing manufacturing abilities and technological advantage. To this end, Tesla’s CEO Elon Musk has publicly stated that he believes the company’s values to eventually be dominated by its AI and robotics initiatives, specifically the Optimus humanoid robot, rather than its EV business. This reflects the company’s strategic decision to reduce focus on EVs and increase investments in AI, robotics and robotaxis.

Therefore, for investors interested in the booming EV market, investing in EV ETFs may make more sense than investing in Tesla shares.

EV Market’s Upward TrajectoryAs the entire world steers toward a green future, the fundamental growth story for electric vehicles remains strong. Global consumer demand for EVs remains robust, with total battery electric vehicle sales in all analyzed markets having surged 35% in third-quarter 2025 compared to last year (as per an October Report from PWC). 

Growth is being driven by a surge in model availability and more affordable options. While traditional EV makers like BYD saw impressive sales results, legacy automakers have also achieved robust gains. Evidently, General Motors and Volkswagen saw year-over-year EV sales growth exceeding 100% in the third quarter. This expansion further underscores that the EV revolution is no longer dependent on just a handful of players, but is being driven by the entire industry.

Based on this, Gartner expects 116 million EVs to be on the road next year globally, reflecting a solid 30% surge.

EV ETFs: Your Diversification ShieldThe discussion and growth projections outlined above make a compelling case for keeping EV ETFs, such as those listed below, on one’s watchlist. These ETFs offer a simple way to invest in the broader thematic shift toward electrification, encompassing automakers, battery producers, semiconductor suppliers, and technology enablers.

KraneShares Electric Vehicles & Future Mobility ETF (KARS - Free Report)

This fund, with net assets worth $80 million, provides exposure to companies engaged in the electric vehicle production, autonomous driving, shared mobility, lithium and/or copper production, lithium-ion/lead acid batteries, hydrogen fuel cell manufacturing, and electric infrastructure businesses. Its top three holdings include Contemporary (4.90%), the largest EV battery maker, TSLA (4.70%) and Panasonic (3.98%), another EV battery maker. 

KARS has soared 46.8% year to date. The fund charges 72 basis points (bps) as fees.

State Street SPDR S&P Kensho Smart Mobility ETF (HAIL - Free Report)

This fund, with assets under management (AUM) worth $21.5 million, provides exposure to 79 companies whose products and services are driving innovation behind smart transportation. Its top three holdings include Lumentum Holdings (3.83%), a provider of optical and laser technology used in EV battery manufacturing, Ballard Power Systems (2.26%), a provider of hydrogen fuel cell technology used in EVs, and Garret Motion (2.18%), a provider of zero-emission technologies like electric turbochargers used in hybrid electric cars.

HAIL has surged 22.8% year to date. The fund charges 45 bps as fees.

iShares Self-Driving EV and Tech ETF (IDRV - Free Report)

This fund, with net assets worth $169.8 million, provides exposure to 46 companies at the forefront of self-driving and EV innovation. Its top 10 holdings include Albemarle Corp (6.63%), a supplier of essential lithium carbonate and hydroxide for EV batteries, PLS Group (4.21%), a provider of lithium materials used in EV batteries, and Rivian Automotive (3.92%), a maker of adventure EVs. 

IDRV has soared 33.1% year to date. The fund charges 48 bps as fees. 

Keysight Technologies, Inc. (KEYS) Barclays 23rd Annual Global Technology Conference December 10, 2025 11:40 AM EST

Company Participants

Neil Dougherty - Executive VP & CFO
Kailash Narayanan - Senior VP & President of Communications Solutions Group

Conference Call Participants

Timothy Long - Barclays Bank PLC, Research Division

Presentation

Timothy Long
Barclays Bank PLC, Research Division

We'll start it off. Maybe, Neil, I'll start with you. Maybe just give us a little -- it's been a pretty good run of recent. So maybe just high-level kind of what were some of the positive factors in '25 and what's informing the pretty good outlook you gave for next year?

Neil Dougherty
Executive VP & CFO

Yes. That's a great question. As I look back on '25, the first thing that comes to mind is building momentum, right? We had started the recovery as we were entering '25, but we really were talking about a mixed demand environment. Some of our businesses up, some of them still a bit soft. And we've really built momentum as we move throughout the year. We started with growth expectations for '25 that were at the low end of our long-term range, 5%. We took it to 6% after half, 7% after 3 quarters. We finished at 8%. And then we've guided to 10% growth here in Q1.

So we really have built momentum as this recovery has happened and as our end markets strengthened. And so I think as we enter '26, we had a great order book in Q4. We have a strong funnel, strong backlog going into the quarter. And maybe more importantly, we've got these big technological themes that are aligning positively for Keysight.

I think number one among those is the impact that AI is having on our wireline business in commercial

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, /PRNewswire/ -- Shareholders of Dogwood State Bank (OTCQX: DSBX) ("Dogwood" or the "Bank") approved the previously announced merger of Dogwood into TowneBank (NASDAQ: TOWN) at a special meeting of shareholders on December 3, 2025.

The parties expect the merger to close early in the first quarter of 2026 subject to satisfaction of customary closing conditions, including the receipt of all required regulatory approvals.

Steve Jones, CEO of Dogwood, stated, "We are pleased that our shareholders have approved the proposed merger into TowneBank. This approval marks a significant milestone, and we look forward to completing the merger and moving forward together."

About Dogwood State Bank

Dogwood State Bank is a state-chartered community bank headquartered in Raleigh, North Carolina, with approximately $2.4 billion in total assets. Dogwood provides a wide range of banking products and services through its online offerings and branch offices in North Carolina, South Carolina, and Eastern Tennessee. Dogwood also specializes in providing lending services to small businesses through its Dogwood State Bank Small Business Lending division. Dogwood is focused on becoming the bank for businesses, business owners, professionals, and their employees. and redefining what it means to Bank Local.

Forward-Looking Statements

Statements made in this press release, other than those concerning historical financial information and facts, may be considered forward-looking statements, which speak only as of the date of this press release and are based on current expectations and involve a number of assumptions. Forward-looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Our ability to predict results, or the actual effect of our future plans or strategies, is inherently uncertain and subject to a number of risks. Factors that could have a material effect on the Bank's operations and future prospects include but are not limited to: the merger of the Bank with and into TowneBank (the "merger") may not be consummated in a timely manner or at all; the regulatory approvals required for the merger may not be obtained; the combination of the businesses of the Bank and TowneBank may take longer, be more difficult, time-consuming or costly to accomplish than expected; the expected growth opportunities or cost savings from the merger may not be fully realized or may take longer to realize than expected; deposit attrition, operating costs, customer losses and business disruption following the merger, including adverse effects on relationships with employees and customers, may be greater than expected; changes in interest rates, and general economic and business conditions; legislative/regulatory changes; the monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; the quality and composition of the Bank's loan and securities portfolios; demand for loan products and other financial services in our market areas; inflation; deposit flows; competition; our implementation of new technologies and ability to develop and maintain secure and reliable electronic systems; changes in the securities markets; and changes in accounting principles, policies and guidelines.  These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. We undertake no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Dogwood State Bank

As we enter the final stretch of 2025, it's clear that this has been a strong year for equities. However, with valuations across the tech sector stretched and talk of an AI-fueled bubble growing louder, many investors are beginning to look for more stable, income-generating opportunities. 

That’s where dividends come in. Reliable income, steady cash flow, and built-in downside protection make dividend stocks a natural refuge when markets get frothy.

Get CocaCola alerts:

With that in mind, here are three high-quality names that combine dividend yield, stability, and upside potential heading into 2026. Each offers consistent earnings, strong analyst support, and valuations with plenty of room for appreciation.

Let’s jump in and take a closer look. 

Coca-Cola Offers Dividend Growth and Consumer Staples Stability
Coca-Cola Company NYSE: KO remains the world’s dominant and arguably best-known beverage company, selling hundreds of brands across soft drinks in hundreds of countries to hundreds of millions of customers each year.

CocaCola Today

KO

CocaCola

$69.86 -0.23 (-0.33%)

As of 03:05 PM Eastern

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

52-Week Range$60.62▼

$74.38Dividend Yield2.92%

P/E Ratio23.12

Price Target$78.43

After a steady 12% gain over the past year, its shares have been largely flat through the past six months. That sideways action may not sound exciting, but for long-term dividend investors, it’s the kind of consolidation that often precedes the next leg higher.

Coca-Cola currently yields 2.91%, backed by one of the longest dividend-growth streaks in the market—more than 60 years. 

Not only that, but the company consistently tops earnings expectations each quarter, and the stock is rated a solid Buy by many analysts.

Some of the more recent updates include the fresh endorsements from the team over at UBS Group last week and the team at Bank of America last month. The latter’s $80 price target implies roughly 14% upside from current levels—not bad for a company that’s also offering steady dividend income on top.

For investors seeking to reduce their tech exposure and build positions in consumer staples, Coca-Cola offers strong brand power and long-term dividend reliability, making it a compelling portfolio anchor heading into 2026.

Merck & Co. Rebounds With Strong Earnings and Dividend Upside
New Jersey-based Merck & Co. Inc. NYSE: MRK is one of the world’s leading pharmaceutical companies. Having endured a tough 2024 and first half of 2025, its shares have staged an impressive recovery.

Merck & Co., Inc. Dividend PaymentsDividend Yield3.34%

Annual Dividend$3.24

Dividend Increase Track Record14 Years

Annualized 5-Year Dividend Growth6.66%

Dividend Payout Ratio42.80%

Next Dividend PaymentJan. 8

MRK Dividend History

Despite earlier declines of more than 20%, Merck’s shares are on track to finish roughly flat after rallying 25% since the start of the quarter. This new uptrend reflects renewed investor confidence following a series of strong earnings reports, as well as an ever-increasing dividend. 

The company’s 3.36% dividend yield is among the most attractive in the large-cap healthcare sector, and it has a record of steady, sustainable increases dating back 14 years. Recent analyst updates reinforce the thesis that we’re looking at a new version of the company, set to enter 2026 on the front foot. 

Scotiabank reiterated its Buy rating just last week with a $120 price target. At the same time, Wells Fargo maintained its Overweight rating from the previous month and lifted its target to $125, pointing to nearly 30% upside potential from current levels.

For dividend investors looking to balance income with growth, Merck’s setup looks particularly strong heading into 2026.

MPLX Delivers High Yield With Infrastructure Growth Potential
Mplx Dividend PaymentsDividend Yield7.84%

Annual Dividend$4.31

Dividend Increase Track Record9 Years

Annualized 5-Year Dividend Growth5.78%

Dividend Payout Ratio91.31%

Recent Dividend PaymentNov. 14

MPLX Dividend History

MPLX LP NYSE: MPLX operates energy infrastructure, managing pipelines, terminals, and logistics services to support production of crude oil and natural gas.

It might not be a household name, but MPLX is gaining attention among investors, as its shares are currently surging to their highest levels in over a decade. 

Not only that, but MPLX also offers a downturn-busting 7.70% dividend yield. While MPLX’s earnings reports haven’t been as consistent as those of the other two companies on this list, this type of payout alone deserves attention.

Despite a Neutral rating from JPMorgan & Chase last week, broader sentiment remains bullish with positive outlooks from RBC Capital, Wells Fargo, and Barclays. For investors willing to stomach a bit more volatility in exchange for yield, MPLX offers one of the market’s more compelling income plays.

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

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CocaCola wasn't on the list.

While CocaCola currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.

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CINCINNATI--(BUSINESS WIRE)--Fifth Third Bank, National Association (Nasdaq: FITB) today announced it will decrease its prime lending rate to 6.75%, effective immediately. The rate was last changed on October 29, 2025, when Fifth Third decreased its prime lending rate from 7.25% to 7.00%. About Fifth Third Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services.

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SummaryYara International remains a 'BUY' with a retained PT, driven by premium products, global reach, and strong 3Q25 results.YARIY delivered a 40% EBITDA increase, record production, and doubled adjusted earnings but faces future AEPS declines as global fertilizer capacity rises.Despite sector volatility and energy cost disadvantages, YARIY's capital management, efficiency gains, and upcoming dividend increase support continued upside.Valuation is attractive with >15% annualized upside forecast, but risks include sector cyclicality, regulatory changes, and peer competition. chameleonseye/iStock Editorial via Getty Images

As a long-term investor in fertilizer businesses, I keep a close eye not only on my favorites, including Yara (YARIY), but also on the closest competitors. Still, it's fair to say that Yara is somewhat different from its closest peers. Most of

Analyst’s Disclosure:I/we have a beneficial long position in the shares of YARIY either through stock ownership, options, or other derivatives. 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.

While this article may sound like financial advice, please observe that the author is not a CFA or in any way licensed to give financial advice. It may be structured as such, but it is not financial advice. Investors are required and expected to do their own due diligence and research prior to any investment.
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December 10, 2025 2:51 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - December 10, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Hormel Foods Corporation (NYSE: HRL) resulting from allegations that Hormel may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Hormel securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=47180 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On October 29, 2025, The Wall Street Journal published an article entitled "Hormel Cuts Forecast on Price Pressure, Consumer Backdrop; Parts Ways With CFO." The article stated that Hormel "warned earnings in the latest quarter were squeezed by price pressures, bird flu and a fire that damaged its Arkansas peanut butter production facility. The company also said it was parting ways with its top finance executive[.]"

On this news, Hormel Foods stock fell 9.1% on October 29, 2025.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277626

Willis Towers Watson Public Limited Company (WTW) M&A Call December 10, 2025 9:00 AM EST

Company Participants

Carl A. Hess - CEO & Director
Andrew Krasner - CFO & Co-head of Corporate Development

Conference Call Participants

Michael Zaremski - BMO Capital Markets Equity Research
Elyse Greenspan - Wells Fargo Securities, LLC, Research Division
Jon Paul Newsome - Piper Sandler & Co., Research Division
David Motemaden - Evercore ISI Institutional Equities, Research Division
Andrew Andersen - Jefferies LLC, Research Division
Brian Meredith - UBS Investment Bank, Research Division
Joshua Shanker - BofA Securities, Research Division
Tracy Benguigui - Wolfe Research, LLC
Mark Hughes - Truist Securities, Inc., Research Division
Meyer Shields - Keefe, Bruyette, & Woods, Inc., Research Division
Katherine Sakys
Ryan Tunis - Cantor Fitzgerald & Co., Research Division
Mitchell Rubin - Raymond James & Associates, Inc., Research Division
Taylor Scott - Barclays Bank PLC, Research Division

Presentation

Operator

Good morning. Welcome to the WTW Acquisition of Newfront Announcement Call. Please refer to wtwco.com for the press release and supplemental information that were issued earlier today. Today's call is being recorded and will be available for the next 3 months on WTW's website.

Some of the statements in today's call may constitute forward-looking statements within the meaning of the Private Securities Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties. Actual results may differ materially from those discussed today, and the company undertakes no obligation to update these statements unless required by law. For a more detailed discussion of these and other risk factors, investors should review the Forward-looking Statements section of the press release issued this morning as well as in the company's most recent Form 10-K and other subsequent WTW SEC filings.

During the call, certain non-GAAP financial measures may be discussed. To provide direct comparability with prior periods, all commentary regarding the company's revenue growth results will be

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Blackstone , the world's largest alternative asset manager, still sees good opportunities to invest in data centers despite a rush of investment into the hardware supporting the development of artificial intelligence, its president said on Wednesday.

December 10, 2025 3:00 PM EST | Source: Rottenstone Gold Inc.
Vancouver, British Columbia--(Newsfile Corp. - December 10, 2025) - Rottenstone Gold Inc. - (CSE: SK)  - ("Rottenstone Gold" or the "Corporation" or the "Issuer") is pleased to announce that it has entered into a binding agreement dated December 9, 2025 with non-arm's-length parties (the "Vendors") to acquire various royalty interests (the "Royalty Acquisition"), along with the announcement of other below described corporate intentions revolving around the same.

Acquisition of Royalties

Under the terms of the transaction, the Issuer intends to acquire numerous royalties on projects collectively operated by (1) Kinross Gold Corporation ("Kinross"), (2) SSR Mining Inc. ("SSR"), (3) NexGold Mining Corp. ("NexGold"), (4) Champion Iron Limited ("Champion"), (5) Orano Canada Inc. ("Orano") and (6) Cameco Corp. ("Cameco") (Kinross, SSR, NexGold, Champion, Orano and Cameco collectively, the "Operators").

The royalties and the Operators are:

1) A royalty interest (the "Great Bear Royalty") on certain areas of the Great Bear Project in Ontario, Canada operated by Kinross, represented by a 0.75% NSR covering approximately 570 ha of mining leases and approximately 1,241 ha of mining claims;

2) Certain royalty interests (the "Seabee Royalties") on certain areas of the Seabee Gold Project in Saskatchewan, Canada operated by SSR, represented by a 2% NSR covering approximately 8,873 ha of mineral dispositions and a 0.5% NSR covering approximately 2,832 ha of mineral dispositions.

3) Certain royalty interests (the "Goldboro Royalties") on certain areas of the Goldboro Gold Project in Nova Scotia, Canada operated by NexGold, represented by 2.0% GSRs covering approximately 10,848 ha of mineral dispositions.

4) A royalty interest (the "Bloom Lake East Royalty") on certain areas of the Bloom Lake East Iron Project in Labrador, Canada operated by Champion (and/or its subsidiary, Quebec Iron Ore), represented by a 1% GSR covering approximately 3,800 ha of mineral claims;

5) Certain royalty interests (the "Preston Royalties") on the Preston Uranium Project in Saskatchewan, Canada operated by Orano, represented by certain NSR royalty interests ranging from 1.4% to 2.0% covering approximately 49,635 ha of mineral dispositions; and

6) A royalty interest (the "WAB Royalty") on certain areas of a Western Athabasca Basin project in Saskatchewan, Canada operated by Cameco, represented by a 1% GSR covering approximately 5,859 ha of mineral dispositions;

(the Great Bear Royalty, the Seabee Royalties, the Goldboro Royalties, the Bloom Lake East Royalty, the Preston Royalties and the WAB Royalty, collectively, the "Royalties").

The aforementioned Royalties are derived from underlying agreements operated by third parties. Accordingly, the Issuer is not disclosing any current mineral resources or mineral reserves in respect of the Operators' projects in this news release or otherwise. Readers are encouraged to refer to the Operators' public disclosures for available information regarding underlying projects.

Terms and Related Party

The Issuer intends to acquire the Royalties on an all-stock basis, with the agreement underlying the Royalty Acquisition entered into with parties related to the Issuer. As such, and among other measures, a fair market value ("FMV") on the Royalties was independently determined and supported through a recent comprehensive valuation report, which was prepared by an arm's-length valuation firm having expertise in such matters. To the same, and having consideration to its last traded market price, the Issuer plans to issue 93,225,807 common shares (the "Consideration Shares") to satisfy the FMV of the Royalties.

As at the date hereof, the Issuer has 29,236,400 common shares issued and outstanding.

No finder's fees are payable in connection with the Royalty Acquisition, nor with any other matter discussed herein.

The transaction proposed (which remains subject to conditions) and matters herein discussed have been approved by the independent Directors of the Issuer, with the related party disclosing and abstaining in the process. Certain arm's-length transaction-related expenses shall be paid for by the Issuer.

The Royalty Acquisition remains subject to various conditions including completion of satisfactory due diligence, requisite approval(s) by the Issuer's listed exchange, the satisfaction of various legal, tax and regulatory matters and shareholder approval of the Royalty Acquisition by way of a disinterested shareholder vote expected in the first quarter of 2026.

The full pro-forma capitalization of the Issuer, including the expected share ownership of the Vendors following completion of the Royalty Acquisition, will be further set out in the information circular to be mailed to shareholders in connection, inter alia, with disinterested shareholder approval of the Royalty Acquisition. If the Royalty Acquisition is approved by disinterested shareholders, the Consideration Shares are expected to be issued pursuant to available prospectus exemptions and are anticipated to be subject to applicable resale restrictions under Canadian securities laws, as well as any escrow or hold requirements that may be additionally imposed by the Canadian Securities Exchange (the "CSE"), which is the listed exchange of the Issuer.

Corporate Strategy for the Royalties

The Royalties are expected to provide durable project coverage to well-funded and institutional-grade project proponents, each of whom has the indirect capacity to further such royalty interests, by way of the underlying projects, to the forward benefit of the Issuer and its shareholders. Given the portfolio-effect, such benefit would prospectively accrue across a geographically diverse, multi-operator context presently exceeding 200,000 acres. The Issuer believes that a large-scale mining lands royalty portfolio operated by high-quality project proponents will occupy a unique market position within the public royalty marketplace, notably in the pro-forma capitalization segment of the Issuer.

Strategically, if the Royalty Acquisition is successfully completed, the Issuer would transform into a strong royalty market participant that is principally focused at the outset on mining majors and the lands selectively chosen by those mining majors for exploration and development.

Furthermore, the arm's-length determined FMV of the Royalties is majority-ascribed by independent valuation to gold and silver royalty interests, weighing the prospective forward-asset value of the Issuer to that of a precious metals royalty company.

If the matters discussed herein are successfully completed, the Issuer also intends to pursue additional royalty interests over time, including where complimentary to the nature of the inaugural royalty positioning provided by the tier-one Operators and the forward-moving royalty platform that the uniqueness of the Royalties serves to launch.

Change of Business

The Issuer anticipates that the Royalty Acquisition will, if successfully completed, constitute a fundamental change with a resulting change of business (the "Change of Business") in the Issuer and its operations.

As a result, the Issuer expects to maintain a trading-halt on its listed securities until such time as the matters described herein are successfully completed, or the Royalty Acquisition is otherwise terminated or discontinued.

With respect to the expected Change of Business, the Issuer has significant management and board experience in the mining royalty industry, including through individuals who previously built and then sold publicly-listed Gold Royalties Corp. ("Gold Royalties") to Sandstorm Gold Ltd. (recently acquired by Royal Gold Inc.), and the past establishment within Gold Royalties of a royalty acquisition agreement with Franco-Nevada Corporation, the details of which are public record. Such management and board expertise is expected to be leveraged by the Issuer moving-forward, including in conjunction with the next discussed section.

Name Change to Silver Royalties

If the Royalty Acquisition and Change of Business are successfully approved and completed, the Issuer intends to adopt, substantively or fully, the name of its existing wholly owned subsidiary, Silver Royalties Corp., either by amalgamation or otherwise, with said or like name being the Issuer's forward name of business (the "Name Change").

The Issuer believes that such a resulting corporate brand (Silver Royalties), in combination with the Royalties and their Operators, offers strong inaugural positioning under which to advance a publicly listed royalty company, particularly in a robust precious metals market.

If the corporate items outlined in this news release are successfully completed, the Issuer anticipates that it will also seek and assume a new trading symbol and new ISIN/CUSIP numbers in tandem with its resumption of trade, details of which would be provided, if applicable, in due course.

Special Meeting

In addition to various regulatory matters related to the Royalty Acquisition and the Change of Business, the Issuer will be preparing an information circular, and setting the date of a special shareholder meeting, at which disinterested shareholders will be given the right to determine if the Royalty Acquisition proceeds.

Notice of the special meeting, which may also include ordinary business by way of a regular component, and the delivery of pertinent materials, will be provided in due course.

Multilateral Instrument 61-101 Disclosure

The Royalty Acquisition is expected to constitute a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), as the Vendors are non-arm's-length parties to the Issuer. In accordance with MI 61-101, the Issuer has obtained an independent valuation of the Royalties from an arm's-length valuator with expertise in mining royalty interests. The independent directors of the Issuer have approved the Royalty Acquisition, with any interested director having disclosed their interest and abstained from deliberations and approval. The Royalty Acquisition will be subject to approval by disinterested shareholders of the Issuer at a special meeting expected to be held in the first quarter of 2026, and full particulars of the transaction and a description of any MI 61-101 exemptions relied upon, will be included in the Issuer's information circular.

In addition to procedures under MI 61-101, CSE approval is also required for completion of the Royalty Acquisition.

Qualified Person

Antonio Carteri, P.Geo., and a "Qualified Person" as defined by NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Carteri is a Director of the Issuer. For purposes of disclosure pertaining to this news release, Mr. Carteri is arm's-length of the Vendors.

Risks & Uncertainties

The Issuer is subject to a large number of risks and uncertainties, including those risks and uncertainties set out in public filings made by the Issuer, such as those identified in public filings available on SEDAR+ (www.sedarplus.ca), as well as through those materials filed at the Issuer's regulatory-obliged Disclosure Hall on the CSE website (https://thecse.com/listings/rottenstone-gold-inc/).

About Rottenstone Gold Inc. - CSE:SK

Rottenstone Gold is a Vancouver-based junior mining company. Traded on the CSE under the symbol "SK", the Corporation holds the district-scale Rottenstone Project in Saskatchewan, Canada, through which it is a large disposition holder in the Rottenstone Domain. For more information, visit http://www.rottenstonegold.com

The Corporation also holds all outstanding equity of its subsidiary, Silver Royalties Corp. For more information, visit http://www.silverroyalties.com

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Canadian securities laws. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words "anticipate," "expect," "suggest," "plan," "believe," "intend,", "intention" "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" and other similar expressions are intended to identify forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including but not limited to matters related to matters discussed in this news release, including the completion, if any, of the Royalty Acquisition, developments, if any, as relate to the Royalties, satisfaction, if any, of conditions required for the Change of Business, including without limitation both shareholder and regulatory approvals, and completion, if any, of the Name Change, as well as risks and uncertainties to all ancillary matters related to the aforementioned. Actual results may differ materially from those currently expected or forecast in such statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277610

Webster Financial Corporation (WBS) Goldman Sachs 2025 U.S. Financial Services Conference December 10, 2025 12:20 PM EST

Company Participants

John Ciulla - Chairman & CEO

Conference Call Participants

Ryan Hammond - Goldman Sachs Group, Inc., Research Division

Presentation

Ryan Hammond
Goldman Sachs Group, Inc., Research Division

All right. Up next, we are pleased to have Webster Bank joining us for the first time. I'm sure many of you are familiar, Webster is an $83 billion balance sheet bank headquartered in Connecticut and a footprint that spans the Northeastern New York to Rhode Island and Massachusetts and had certain national businesses. They focus on 3 lines of business: commercial banking, health care, financial services and consumer banking. Joining us from the company is Chairman and CEO, John Ciulla. Welcome, John.

John Ciulla
Chairman & CEO

Thanks, Ryan. Great to be here.

Question-and-Answer Session

Ryan Hammond
Goldman Sachs Group, Inc., Research Division

Thank you. Thank you for coming. Today's discussion is going to be a fireside chat. So maybe, John, kicking it off, this is obviously your first time being at the conference. Again, thank you for joining us. And well, I think most people know you guys, to the extent maybe some attendees could be less familiar with the company. Do you want to just provide a quick overview of the bank?

John Ciulla
Chairman & CEO

Sure. I think you hit the fun fact. We're an $83 billion bank headquartered in Connecticut. Our branch footprint runs really from Boston to New York City. Our middle market and commercial kind of in footprint is extended down to Philadelphia. And then we've got a number of national businesses on both the lending and the deposit gathering side. I think our real competitive advantage, and we talk about this a lot in our investor communications is our diversified funding base. We have

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By

PYMNTS
 | 
December 10, 2025

 | 

Amazon says its same-day perishable grocery delivery service has reached 2,300-plus communities.

Now, Amazon is planning additional growth in 2026 as it finds itself on track to deliver at its fastest speeds ever for Prime members worldwide for the third consecutive year, the tech giant announced Wednesday (Dec. 10).

“Over the last few months, customers have ordered fresh fruits, vegetables, dairy, meat, seafood, baked goods, and frozen foods alongside electronics, books, pantry staples and snacks, and everyday household essentials like paper towels and toothpaste,” Amazon said in a news release.

“In fact, as more customers turn to fast delivery for everyday needs, fresh groceries now make up nine of the top ten most-ordered items. Coming in at number ten, however, is a not-so-surprising everyday household essential—a 12-pack of bathroom tissue.”

The news comes a little more than a week after Amazon said it would begin testing ultra-fast delivery of groceries and essential items — that is, within 30 minutes or less — in two U.S. cities.

“Amazon is utilizing specialized smaller facilities designed for efficient order fulfillment, strategically placed close to where Seattle- and Philadelphia-area customers live and work,” the company’s announcement said.

Advertisement: Scroll to Continue

“This approach prioritizes the safety of employees picking and packing orders, reduces the distance delivery partners need to travel, and enables faster delivery times.”

Last week also saw a report that Amazon was weighing the future of its relationship with the U.S. Postal Service (USPS) after talks between the partners had stalled.

Amazon has told PYMNTS it is committed to working with the USPS and looks forward to hearing from the agency soon. But were a separation to come to pass, PYMNTS wrote, the consequences could be profound.

“The Postal Service relies heavily on parcel delivery revenue to offset the steep decline in traditional letter mail,” PYMNTS reported. “Without Amazon, many of the Postal Service’s existing ‘coopetition’ arrangements in which legacy carriers like UPS or FedEx hand off last-mile delivery to USPS could unravel.”

But for Amazon, the equation is more straightforward, PYMNTS added. In the last several years, the company has invested billions into bolstering its own fulfillment centers, sorting hubs, electric delivery vehicles and a gig-based driver network.

“Equipped with density, scale, and proprietary infrastructure, Amazon now believes it can deliver at a lower ‘all-in’ cost than shipping via the Postal Service,” the report said, noting that Amazon logistics handled almost as many packages as the postal service last year.

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Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task.

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.

However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

HealthEquity (HQY - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.

Here are three of the most important factors that make the stock of this provider of services for managing health care accounts a great growth pick right now.

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for HealthEquity is 32.9%, investors should actually focus on the projected growth. The company's EPS is expected to grow 24.8% this year, crushing the industry average, which calls for EPS growth of 17.1%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for HealthEquity is 25.9%, which is higher than many of its peers. In fact, the rate compares to the industry average of 0.7%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 19.3% over the past 3-5 years versus the industry average of 7.2%.

Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The current-year earnings estimates for HealthEquity have been revising upward. The Zacks Consensus Estimate for the current year has surged 1.9% over the past month.

Bottom LineWhile the overall earnings estimate revisions have made HealthEquity a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that HealthEquity is a potential outperformer and a solid choice for growth investors.

Key Takeaways Pagaya shows resilience across credit cycles with AI underwriting and a broad capital network.The company posted three straight quarters of positive GAAP net income with 10.5% volume growth.Pagaya expects $10.5-$10.75B in 2025 network volume as funding diversification supports results.
Pagaya Technologies (PGY - Free Report) has become one of the more stable fintech players in a market still dealing with high interest rates, changing credit conditions and uneven consumer spending. Its artificial intelligence (AI)-based underwriting and broad capital network give it the flexibility to perform well in different parts of the credit cycle, whether conditions are tight or improving.

Because Pagaya does not hold loans on its own balance sheet, it acts mainly as a technology and data platform that connects lenders with institutional investors. This model allows the company to grow loan volumes while keeping its credit risks low, helping it stay resilient even when consumer-credit pressures rise.

If we look to play PGY’s cycle-resilient story, the key is to focus on the company’s ability to expand its partner network, grow funding capacity and maintain credit performance visibility.

Thus, despite macroeconomic headwinds and regulatory risks, Pagaya’s improving credit trends and funding diversification have supported its robust results so far in 2025. The company posted three consecutive quarters of positive GAAP net income this year, a dramatic turnaround from substantial losses in the previous years. In the nine months ended Sept. 30, 2025, its year-over-year network volume growth was 10.5%, a trend the company is expected to sustain in the near term. For 2025, PGY expects network volume of $10.5-$10.75 billion.

Driven by the impressive performance, PGY shares have skyrocketed 167.3% so far this year, significantly outperforming the industry and the S&P 500 Index’s 4.2% decline and 18.7% growth, respectively. The company has also fared better than its two close peers, LendingTree (TREE - Free Report) and LendingClub (LC - Free Report) . LendingTree’s shares have jumped 41.6%, while the LendingClub stock has gained 18.7% year to date.

YTD Price Performance
Image Source: Zacks Investment Research

Now, given Pagaya’s robust performance, investors must be tempted to buy the stock immediately. But, before making any investment decision, it is better to have a detailed understanding of PGY’s fundamental strength.

Pagaya’s Positives to Note:Diversified Business Model: PGY’s core strength lies in its resilient and adaptable business model. The company has continuously been expanding beyond its original focus on personal loans, moving into auto lending and point-of-sale financing. This diversification reduces exposure to cyclical risks in any single loan category, making the business more stable across economic cycles.

Parallel to this, Pagaya has built a robust network of more than 135 institutional funding partners to support the sale of its asset-backed securities (ABS). The company leverages forward flow agreements — structured financing arrangements in which institutional investors commit to purchasing future loan originations from Pagaya’s banking partners. These agreements offer a critical alternative funding source if ABS markets face disruptions during market stress.

PGY has a competitive edge in its proprietary data and product suite. One standout offering is its pre-screen solution, which enables banks and lenders to present pre-approved loan offers to existing customers without requiring a formal application.

By analyzing the lender’s customer base and identifying qualified borrowers proactively, the company helps financial institutions deepen customer relationships and expand credit access with minimal incremental marketing spend. This marks an evolution in its value proposition from driving market share gains for partners to enhancing their share of wallet with existing customers.

Lean Balance Sheet: Pagaya operates a capital-efficient model that largely avoids holding loans on its balance sheet, significantly reducing its exposure to credit risk and market volatility. This is made possible through the company’s robust network of institutional funding partners and a focus on issuing ABS.

The capital raised in advance is held in trust and deployed only when a lending partner originates a loan through Pagaya’s AI-driven network. At that point, the loan is immediately acquired by a pre-committed funding source, either through an ABS vehicle or a forward flow agreement. As a result, most loans never reside on Pagaya’s balance sheet or only do so briefly before being transferred.

This off-balance-sheet model has proven particularly effective during periods of elevated interest rates and market stress, such as from 2021 through 2023. By minimizing credit exposure and avoiding significant loan write-downs, Pagaya has maintained its financial flexibility in turbulent environments.

PGY appears to rely heavily on forward flow agreements. These contracts provide a reliable and predictable source of capital, helping the company maintain liquidity even amid tightening credit markets and rising inflation.

Comparing PGY’s Business Model With TREE & LCUnlike PGY, LendingTree is a marketplace platform, not a lender. It matches consumers with financial product providers like mortgages, personal loans, credit cards and insurance.

LendingTree does not underwrite, originate or hold loans. Hence, its balance sheet is not credit-heavy. TREE’s balance sheet is detached from revenue generation. The company is primarily structured to support a fee-based digital marketplace, not balance sheet lending.

Similarly, unlike PGY, LendingClub uses a hybrid model. It originates consumer loans and keeps a portion on its own balance sheet while selling the rest to investors. This gives LendingClub more direct exposure to interest-rate and credit cycles but also greater control over pricing and loan mix.

Analyzing Pagaya’s ValuationIn terms of valuation, the PGY stock looks inexpensive compared with the industry at large. The stock is trading at a forward 12-month price/sales (P/S) ratio of 1.29X, below the industry average of 3.35X over the last three years.

Price-to-Sales F12M
Image Source: Zacks Investment Research

How to Approach the Pagaya Stock Now?Given its strong year-to-date performance, resilient business model and capital-efficient funding strategy, PGY stands out in the fintech space. Its AI-driven platform, diversified revenue streams and reliance on forward flow agreements shield it from market volatility and credit risks.

However, the company has been witnessing a persistent increase in expenses over the past few years. Over the last three years (2021-2024), total costs and operating expenses increased at a compound annual growth rate of 26.2%. The uptrend continued in the first nine months of 2025, mainly because of elevated production costs.

Nevertheless, analysts seem optimistic regarding PGY’s earnings growth potential. Over the past 30 days, the Zacks Consensus Estimate for Pagaya’s 2025 and 2026 earnings has been revised upward to $3.10 and $3.41 per share, respectively. The estimated numbers indicate year-over-year growth rates of 273.5% and 10% for 2025 and 2026, respectively.

PGY’s Earnings Estimate Revision Trend
Image Source: Zacks Investment Research

Also, the Zacks Consensus Estimate for the company’s 2025 and 2026 revenues, pegged at $1.32 billion and $1.57 billion, respectively, implies year-over-year growth of 28.4% and 19.2%.

PGY’s Sales Estimates
Image Source: Zacks Investment Research

Thus, with accelerating earnings and revenue estimates, along with bullish analyst sentiments, PGY is well-positioned for continued growth. Moreover, the stock trades at a discount relative to the industry at large, making its valuation attractive. For investors seeking exposure to a high-growth, tech-enabled lender with solid fundamentals, the PGY stock is a compelling buy.

At present, Pagaya carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

BlackRock plans to sell around 69 million shares in Spanish gas utility Naturgy , equivalent to 7.1% of the company, in an accelerated bookbuild placement managed by JP Morgan, the firm said on Wednesday.

U.S. Bancorp (USB) Goldman Sachs 2025 U.S. Financial Services Conference December 10, 2025 9:20 AM EST

Company Participants

Gunjan Kedia - President & CEO
John Stern - Vice Chair & Chief Financial Officer

Conference Call Participants

Richard Ramsden - Goldman Sachs Group, Inc., Research Division

Presentation

Richard Ramsden
Goldman Sachs Group, Inc., Research Division

Okay. So good morning, everybody. We're going to get started with the next presentation. Delighted to have U.S. Bancorp with us this morning. We have both President and CEO, Gunjan Kedia. You're, I guess, approaching your first year or close to the first year as CEO.

Gunjan Kedia
President & CEO

8 months.

Richard Ramsden
Goldman Sachs Group, Inc., Research Division

8 months. I guess April, yes. And John Stern, CFO, who's known -- well known to everyone. And I guess you're close to 3 years of CFO.

John Stern
Vice Chair & Chief Financial Officer

Getting there.

Richard Ramsden
Goldman Sachs Group, Inc., Research Division

And being very regular attendee at the conference. This is Gunjan's first time. Delighted to have you here for what I hope will be the first of many presentations.

Question-and-Answer Session

Richard Ramsden
Goldman Sachs Group, Inc., Research Division

So I thought I'll start off with your strategic priorities. And I think it's fair to say you've been very consistent and very clear around your strategic priorities over the course of the last 8 months, which are focusing on expenses, organic growth and payments transformation. Can you perhaps give us a scorecard on the progress you feel you have made on those priorities? And as you think about 2026, are those still the priorities that you're focused on?

Gunjan Kedia
President & CEO

Thank you, Richard, and it's a pleasure to be here to talk to you. So you remember last year at Investor Day, we articulated some

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Key Takeaways Wells Fargo expects further 2026 staff cuts as efficiency efforts and new technology reshape its operations.
AI tools boosted engineering productivity 30-35% as the bank prepares a gradual AI rollout next year.
WFC continues branch reductions and structural changes, targeting $15B in gross expense cuts by 2025-end.

At the Goldman Sachs 2025 conference held on Dec. 9, Wells Fargo & Company (WFC - Free Report) signaled that its workforce could shrink further in 2026 as part of a broader push to improve efficiency and incorporate artificial intelligence (AI) across its operations. Speaking at the conference, CEO Charlie Scharf stated that the bank expects higher severance costs in the current fourth quarter and is preparing for staff reductions as it moves into next year.

WFC: AI Rollout Set to Begin Next YearWells Fargo CEO Charlie Scharf emphasized that AI will play a central role in reshaping how the bank operates, noting that AI is “extremely significant” both for driving efficiency and for its “potential” impact on future headcount.

The bank plans to introduce AI gradually over the next year and continue expanding its use beyond 2026. Scharf characterized the transition as a “positive reality,” suggesting that AI-enabled efficiencies will support long-term operational improvements.

While acknowledging that AI is likely to contribute to workforce reductions, Scharf also pointed to significant areas of opportunity, particularly in technology roles. He noted that generative AI tools have already boosted productivity within the bank’s engineering teams by roughly 30-35%.

WFC Rationale: Unlocking Efficiency Through Structural TransformationWells Fargo is steadily advancing its multi-year transformation aimed at driving greater efficiency and operational discipline. Since 2020, the bank has pursued substantial cost-reduction initiatives —simplifying its organizational structure, consolidating branches and reducing its workforce from roughly 268,531 employees in December 2020 to about 210,821 as of Sept. 30, 2025. These changes reflect a deliberate shift toward a leaner, less bureaucratic operating model.

While discussing future growth, Scharf noted that since the removal of the asset cap in June 2025, the bank now has room to grow. But he indicated that any acquisitions or expansion will be very selective, only those offering strong returns and strategic value. He emphasized the bank is “under no pressure” to snap up firms just to boost numbers. 

Beyond workforce reductions and digital investments, Wells Fargo is also optimizing its physical footprint to further lower structural costs. The bank continues to refine its branch location strategy, with total branches declining 2.1% year over year to 4,108 as of the third quarter of 2025. Management views these actions as essential to improving long-term operating efficiency.

Collectively, these initiatives are on track to generate substantial savings, with the company expecting $15 billion in gross expense reductions by 2025-end. Taken together, they signal that WFC is repositioning itself for a future in which productivity and scalability depend less on headcount and more on streamlined processes, automation and modernized technology infrastructure.

WFC’s Price Performance & Zacks RankShares of Wells Fargo have gained 26.6% year to date compared with the industry’s growth of 34.7%.

Image Source: Zacks Investment Research

Wells Fargo currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Similar Steps By Other Finance FirmsThis month, according to Business Today news, which was published on MSN, UBS Group AG (UBS - Free Report) is preparing to cut up to 10,000 employees globally by 2027 as it advances the integration of Credit Suisse. 

Since acquiring Credit Suisse in 2023, the company has already eliminated approximately 15,000 positions, mainly from overlapping roles created by the merger. Looking ahead, workforce reduction may accelerate depending on the progress of Credit Suisse’s integration. These reductions are aimed at removing redundant positions, improving operational efficiency and supporting the broader structural consolidation required to integrate Credit Suisse’s operations fully.

In June 2025, BlackRock, Inc. (BLK - Free Report) announced plans to cut 300 jobs, affecting more than 1% of its workforce. This marked the company’s second reduction this year, following a January cut of approximately 200 positions aimed at realigning resources with the firm’s strategic priorities. 

The workforce reductions aim to streamline operations and optimize resources, supporting BlackRock’s efforts to improve profitability and integrate its recent acquisitions.

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Primerica (NYSE: PRI) pays a $4.16 annual dividend with a 1.65% yield. Based on current financial metrics, we examine whether this financial services provider can sustain this payout.

Metric
Value

Annual Dividend
$4.16 per share

Dividend Yield
1.65%

Ex-Dividend Date
November 21, 2025

Payment Date
December 15, 2025

Current Coverage Metrics Show Conservative Payout
Primerica’s current payout ratios are remarkably conservative. The company earned $21.77 per share over the trailing twelve months while paying $4.16 in dividends, producing an earnings payout ratio of just 19.1%. Current earnings cover the payout 5.2 times over.

The free cash flow picture is even stronger. In Q3 2025, Primerica generated $202.9 million in operating cash flow and spent only $12.3 million on capital expenditures, leaving $190.6 million in free cash flow for the quarter. Against quarterly dividend payments of $33.8 million, operating cash flow coverage stands at 6.0 times.

An analysis of Primerica’s (PRI) dividend safety, highlighting strong earnings and cash flow coverage, alongside a robust balance sheet, indicates a sustainable payout.

Metric
Value
Assessment

Earnings Payout Ratio
19.1%
Very Healthy

Operating Cash Flow Coverage (Q3)
6.0x
Outstanding

Balance Sheet Supports Growth
Primerica ended Q3 2025 with $645 million in cash and a debt-to-equity ratio of 0.80. The company’s insurance subsidiary maintains a risk-based capital ratio of 515%, well above the 200% regulatory minimum.

CFO Tracy Tan addressed capital strength on the Q3 earnings call: “Our capital position remains very strong […] we do have plans to increase that conversion from our insurance entities.”

The company’s return on equity of 34.0% and operating margin of 34.2% demonstrate efficient capital deployment. With a profit margin of 21.6%, Primerica converts revenue to cash effectively.

Strong Recent Performance
Primerica has demonstrated strong operational momentum. Quarterly revenue grew 8.1% year-over-year to $839.8 million in Q3 2025, while quarterly earnings surged 31.4% year-over-year to $206.8 million.

Management Commits to Returns
CEO Glenn Williams stated in the Q3 call: “We remain disciplined in our capital deployment strategy and returned a total of $163 million to stockholders through a combination of $129 million in share repurchases and $34 million in regular dividends during the quarter.”

Tan added: “We’re confident about our ability to generate cash and our ability to return a good amount of cash back to the stockholders in various ways.”

Current Dividend Coverage Assessment
Based on current metrics, the 19.1% earnings payout ratio provides substantial coverage. The company’s exceptional profitability metrics, with a 34.0% return on equity and 34.2% operating margin, support the current dividend level. Strong quarterly cash flow generation of $202.9 million against dividend payments of $33.8 million demonstrates solid current coverage. The company has demonstrated commitment to shareholder returns through both dividends and share repurchases, though the current yield of 1.65% remains modest.

U.S. forces have seized a sanctioned oil tanker off the coast of Venezuela, people familiar with the matter told Bloomberg News.

U.S. crude oil was up 10 cents, or 0.17%, at $58.35 per barrel. Brent rose 15 cents, or 0.24%, to $62.09 a barrel.

President Donald Trump has escalated pressure on Venezuelan President Nicolas Maduro in recent weeks.

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