Market Signal Briefing

HomeMarketsU.S. & CanadaMarket ExtraMarket ExtraAny moves by the U.S. to destroy Iranian oil infrastructure appear unlikely because of the Trump administration’s focus on bringing energy prices down, says strategistPublished: Feb. 18, 2026 at 3:34 p.m. ET

Oil prices pushed sharply higher Wednesday after the U.S. said the use of military force against Iran remained an option following a lack of a breakthrough in talks over Tehran’s disputed nuclear program.

U.S. crude futures CL00 CLJ26 rose more than 4.5%, or $2.79, settling at $65.05 a barrel, the biggest daily jump since Oct. 23, for the most-active contract, according to Dow Jones Market Data. That put West Texas Intermediate crude close to its highest level of 2026, as well as in the upper end of the range in recent months when fears of another U.S. strike against Iran have been acute.

Q4: 2026-02-18 Earnings SummaryEPS of $0.49 misses by $0.02

 |

Revenue of

$137.14M

(5.84% Y/Y)

beats by $610.17K

Perion Network Ltd. (PERI) Q4 2025 Earnings Call February 18, 2026 8:30 AM EST

Company Participants

Tal Jacobson - CEO & Director
Elad Tzubery - Chief Financial Officer

Conference Call Participants

Andrew Marok - Raymond James & Associates, Inc., Research Division
Eric Martinuzzi - Lake Street Capital Markets, LLC, Research Division
Jason Kreyer - Craig-Hallum Capital Group LLC, Research Division
Steven Hromin - Oppenheimer & Co. Inc., Research Division
Laura Martin - Needham & Company, LLC, Research Division
Jeff Martin - ROTH Capital Partners, LLC, Research Division

Presentation

Operator

Hello, everybody, and welcome to the Perion Network Q4 and Full Year 2025 Earnings Call. Today's conference is being recorded, and an archive of the webcast will be posted on the company's website. The press release detailing the financial results is available on the company's website at www.perion.com.

Before we begin, I'd like to read the following safe harbor statement. Today's discussion includes forward-looking statements. These statements reflect the company's current views with respect to future events. These forward-looking statements involve known and unknown risks, uncertainties and other factors, including those discussed under the headings Risk Factors and elsewhere in the company's annual report on Form 20-F that may cause actual results, performance or achievements to be materially different and any future results, performance or achievements anticipated or implied by these forward-looking statements. The company does not undertake to update any forward-looking statements to reflect future events or circumstances.

As in prior quarters, the results reported today will be analyzed both on a GAAP and a non-GAAP basis. While mentioning EBITDA, we will be referring to adjusted EBITDA. We have provided a detailed reconciliation of non-GAAP measures to their comparable GAAP measures in our earnings release, which is available on our website and has also been filed on Form 6-K.

Hosting the call today are

Shares of office-focused SL Green have plunged this year on weaker earnings and a dividend policy shift. A rebound in Manhattan leasing and affordable valuation could reward long-term holders—but income investors face real risks.

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Carvana shares are rallying ahead of earnings. While shares opened lower, they quickly rose to about 3.7% gains and have traded in a tight range for most of the day.

However, even after today’s gains, Carvana’s stock is still down 18% across the past month. As we noted in our write-up below, management will need to firmly refute growing skepticism around the company on tonight’s call.

Carvana (NYSE: CVNA) reports Q4 2025 earnings tonight after the bell. The online used car retailer has had a monster run over the past few years, but shares have pulled back recently, down 18.7% over the past month.

The stock’s recent weakness follows fraud allegations from short seller Gotham City Research on January 28, which sent shares tumbling 14% that day. Tonight’s report will be the first chance for management to directly address those concerns.

What Wall Street Expects Analysts are looking for over 150,000 retail units sold in Q4, based on management’s guidance from the Q3 call. The company also guided to full-year 2025 adjusted EBITDA at or above the high end of the $2.0 to $2.2 billion range. Prediction markets show 56.5% probability of beating the $1.08 consensus EPS estimate, suggesting modest optimism despite last quarter’s miss.

The headline figures to watch are Wall Street consensus for revenues of $5.27 billion and EPS of $1.12. 

The key metric I’ll be watching is gross profit per unit. In Q3, non-GAAP retail GPU decreased by $77 driven by higher depreciation rates, while wholesale GPU fell $168. Management warned on the Q3 call that Q4 typically sees higher depreciation and lower demand, so sequential GPU compression is expected. The question is whether it stays manageable or accelerates.

Last Quarter’s Mixed Results Q3 delivered a revenue beat but an earnings miss. Carvana reported $5.647 billion in revenue, crushing the $5.1 billion consensus. But EPS came in at $1.03, missing the $1.36 estimate by a mile.

The company sold 155,941 retail units, up 44% year over year, and posted record $552 million in operating income and $637 million in adjusted EBITDA.

The stock sold off hard after that report, dropping 13.9% the day after filing and 18.5% a week later. It eventually recovered, but the Q3 miss broke a six-quarter earnings beat streak dating back to Q1 2024.

What to Watch Tonight Beyond the numbers, I’ll be listening for management’s tone on the Gotham allegations. The company called them “inaccurate and intentionally misleading”, but investors need more than a one-liner. Transparency around related-party transactions with DriveTime and Bridgecrest will be critical.

Operationally, watch for commentary on same-day delivery expansion. CEO Ernie Garcia highlighted on the Q3 call that 40% of Phoenix customers now get same or next-day delivery, compared to 10% nationwide. That capability is a competitive advantage, but it’s expensive. I want to hear how logistics costs per unit are trending as they scale that service.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

COHR's vertical integration, 6-inch wafer ramp, and strategic divestitures are expected to drive margin expansion and revenue acceleration in AI data center optics. Despite near-term FCF headwinds and lower operating margins than Lumentum's, Coherent's capacity expansion and increasing profitability position it for potential outperformance post-2026. Execution risks remain around InP wafer yields, fab ramp, and packaging bottlenecks, but successful scaling could justify a significant valuation re-rating.

NEW YORK, Feb. 18, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of GSI Technology Inc. (NASDAQ: GSIT) resulting from allegations that GSI Technology may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased GSI Technology 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=52527 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 February 3, 2026, a post was issued on Stockwits in which it stated that “GSI is almost certainly hiding that their chip did not run Gemma-3 at all, only the pre-generation RAG phase. APU lack the MAC units required for matrix multiplication, which is critical for AI workloads.”

On this news, GSI Technology’s stock price fell $1.08 per share, or 14.2%, to close at $6.52 per share on February 4, 2026.

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 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.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

The Telstra logo is displayed outside a store in Sydney, Australia, September 29, 2025. REUTERS/Hollie Adams Purchase Licensing Rights, opens new tab

Feb 19 (Reuters) - Australia's Telstra Group (TLS.AX), opens new tab on Thursday posted a 9.4% rise in its half-year profit, supported by steady contributions from its mobile business, while cost-cutting initiatives further boosted the company's bottom line.

The country's top telecom firm reported profit attributable of A$1.12 billion ($788.03 million) for the six months ended December 31, compared to A$1.03 billion logged last year.

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($1 = 1.4213 Australian dollars)

Reporting by Shivangi Lahiri and Nikita Maria Jino in Bengaluru; Editing by Alan Barona

Our Standards: The Thomson Reuters Trust Principles., opens new tab

The S&P High Yield Dividend Aristocrats Index recently expanded to 155 holdings after adding eight new members, all companies that have raised dividends for at least 20 consecutive years, according to S&P Dow Jones Indices.

The January reconstitution brought in six companies from the S&P 500, including Accenture (ACN), Cummins Inc. (CMI), and STERIS (STE), along with two from the S&P MidCap 400, according to the index provider. The additions highlight how two popular dividend ETFs tracking different strategies have performed over the past year.

The State Street SPDR S&P Dividend ETF (SDY), which tracks companies with 20-plus years of dividend growth, returned 10.7% year-to-date and 18.5% over one year, according to ETF Database. Meanwhile, the ALPS Sector Dividend Dogs ETF (SDOG), which selects the five highest-yielding stocks from each of 10 sectors, returned 11.1% year-to-date and 20.3% over the same period.

SDOG applies the “Dogs of the Dow” theory on a sector-by-sector basis, starting with the 500 largest U.S. stocks and selecting the highest yielders within each sector, according to ALPS. The fund equally weights 50 total holdings, with five stocks from each of the 10 sectors.

SDY takes a different path by focusing on dividend growth history rather than current yield. The index now includes 102 stocks from the S&P 500, 38 from the S&P MidCap 400, and 15 from the S&P SmallCap 600, according to S&P Dow Jones Indices. The index weights constituents by dividend yield and rebalances quarterly.

Sectors Driving Performance The sector exposure differences between the two funds may help explain their performance gap. Energy stocks gained 19.9% year-to-date while technology fell 2.7%, according to ETF Database.

SDOG maintains roughly equal 10% weightings across all sectors, with Energy holdings at 10.06% and information technology at 9.69%, according to ALPS. This balanced approach gave the fund exposure to energy’s rally through holdings like Chevron Corp. (CVX) and ConocoPhillips (COP).

SDY carries heavier weightings in industrials at 19.5%, consumer staples at 17.5%, and utilities at 14.1%, according to State Street. The fund holds just 6.35% in information technology and 3.91% in energy.

SDOG’s energy holdings also include Kinder Morgan Inc. (KMI), Oneok Inc. (OKE), and EOG Resources Inc. (EOG), according to ALPS. In the information technology sector, the fund holds Hewlett Packard Enterprise Co. (HPE), Accenture, Texas Instruments Inc. (TXN), Microchip Technology Inc. (MCHP), and HP Inc. (HPQ).

Among SDY constituents, roughly 33% have raised dividends for 20 to 24 years, while 32% have done so for 45 years or more, according to S&P Dow Jones Indices. SDY currently yields 2.60%, while SDOG yields 4.03%.

SDY charges 0.35% in annual expenses while SDOG charges 0.36%, according to their respective fact sheets. Both funds rebalance quarterly.

For more news, information, and strategy, visit the ETF Building Blocks Content Hub.

VettaFi LLC (“VettaFi”) is the index provider for SDOG, for which it receives an index licensing fee. However, SDOG is not issued, sponsored, endorsed, or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of SDOG.

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The exit velocity from 2025 is continuing into 2026. Exchange-traded funds (ETFs) have already gathered over $250 billion in inflows in the first six weeks of the new year, proving that demand for the investment vehicle remains robust despite a volatile start.

Based on the latest data from VettaFi research as of February 13, the ETF industry reached $256.04 billion in net year-to-date (YTD) inflows. ETFs attracted around $1.5 trillion inflows in all of 2025 and given the strong momentum to start 2026, it could be another record-breaking year.

Asset Class Breakdown The rapid accumulation was seen across various asset classes as both retail and institutional investors continue to prefer the ETF wrapper for its cost-efficiency, transparency, and flexibility. Again, this occurred despite the CBOE S&P 500 Volatility Index rising over 40% for the year.

Given the heavier market fluctuations, asset allocations could reflect strategic defensive moves. Equities still maintained their dominance, capturing $163.7 billion or 64% of new money.

Though the artificial intelligence (AI) hype continues to captivate investors, there are questions on whether certain stock prices reflect underlying fundamentals. As such, investors have been piling into bonds as a defensive maneuver amid the increased volatility with the fixed income asset class garnering $79.2 billion inflows. The expectation of more rate cuts may also be fueling momentum into ETFs that target other income sources outside of bonds.

Commodities strength couldn’t come at a better time as investors sought uncorrelated assets relative to the broader market amid the volatility. As a result, commodities ETFs saw $8.9 billion inflows.

International Markets, Bonds, and Energy In terms of individual ETFs, it was no surprise to see the Vanguard S&P 500 ETF (VOO) at the top of the leaderboard with $25.03 billion inflows. Rounding out the U.S. core equites category was the State Street SPDR S&P 500 ETF (SPY) with about $8.8 billion inflows. Interestingly, the Invesco S&P 500 Equal Weight ETF (RSP) saw just over $7 billion inflows, which could be an escape from volatility by mitigating concentration risk.

International diversification remains a key theme that is carrying over from last year amid weakness in the U.S. dollar. The iShares Core MSCI Emerging Markets (IEMG) secured $10.5 billion, coming in second place while the Vanguard Total International Stock ETF (VXUS) gathered almost $9 billion—both outpacing SPY.

As mentioned, a theme to start the year has been bonds serving as a ballast due to the increased volatility. This was apparent via inflows into funds like the iShares 0-3 Month Treasury Bond ETF (SGOV) with $4.9 billion and Vanguard Total Bond Market ETF (BND) with $4.2 billion.

In terms of sector-specific equities, energy was the best performer in January. As such, the Energy Select Sector SPDR (XLE) took in nearly $4 billion, proving that traditional energy sources like oil and gas remain essential despite a shift to alternative sources.

For more news, information, and strategy, visit ETF Trends.

The Nestle logo is seen at one of its plants in Konolfingen, Switzerland, September 28, 2020. REUTERS/Arnd Wiegmann/File Photo Purchase Licensing Rights, opens new tab

Feb 18 (Reuters) - Nestle (NESN.S), opens new tab is weighing a smaller presence in the ice cream business and has been reviewing options, including a possible reduction of its stake in Froneri, Bloomberg News reported on Wednesday.

The Switzerland-based food and drink maker may also consider selling some of its remaining fully-owned ice cream operations to the Froneri venture, the report added, citing people with knowledge of the matter.

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Nestle declined to comment, while Froneri did not immediately respond to Reuters' queries.

Froneri, a joint venture between PAI Partners and Nestle, secured investment from Goldman Sachs (GS.N), opens new tab and Abu Dhabi Investment Authority (ADIA) in October, valuing it at 15 billion euros ($17.69 billion).

PAI could opt to increase its stake in Froneri if Nestle decides to cut its shareholding, or the Swiss group could sell part of its stake to another investor like ADIA, Bloomberg said.

Deliberations are ongoing and there’s no certainty a deal will eventually materialize, the report added.

Froneri, the maker of ice cream brands such as Haagen-Dazs and Rowntree's, competes with the newly listed Magnum Ice Cream Company, which became a standalone business after its long-awaited split last year from Unilever (ULVR.L), opens new tab.

($1 = 0.8481 euros)

Reporting by Mihika Sharma in Bengaluru and Mrinmay Dey in Mexico City; Editing by Alan Barona and Jonathan Ananda

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Lower tariffs and higher prices are helping boost the company's margins.

Empire State Realty Trust, Inc. (ESRT) Q4 2025 Earnings Call Transcript

Nvidia Corporation remains the AI cycle's primary driver, despite recent stock underperformance and broader mega-cap tech consolidation. The multi-year Meta partnership, including large-scale Grace CPU deployment, solidifies NVDA's full-stack utility and entrenches it in Meta's $135B capex roadmap. NVDA's premium valuation, with a forward P/E of 39.4x, EV/Sales of 20.8x, hinges on sustained earnings power expansion, as PEG at 1.04x remains below the sector median.

BEVERLY, Mass., Feb. 18, 2026 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a leading provider of digital infrastructure and communications services, announced today that it will release fourth quarter and full year 2025 results on Wednesday, March 4, 2026, after market close. The Company will host a conference call to discuss its results at 10:00 a.m. ET on Thursday, March 5, 2026.

Key details regarding the call are as follows:

Call Date: Thursday, March 5, 2026
Call Time: 10:00 a.m. ET
Webcast Link: https://edge.media-server.com/mmc/p/2kqggmh2

Live Call Participant Link:
https://register-conf.media-server.com/register/BIded8ae2c416740669d62bfade91d0686 

Webcast Link Instructions
You can listen to a live audio webcast of the conference call by visiting the “Webcast Link” above or the "Events & Presentations" section of the Company's Investor Relations website at https://ir.atni.com/events-and-presentations. A replay of the conference call will be available at the same locations beginning at approximately 1:00 pm ET on the same day. The Company also will provide an investor presentation as a supplement to the call on the “Events & Presentations” section of its Investor Relations website.

Live Call Participant Instructions
To participate in the live call, you must register using the “Live Call Participant Link” above. Once registered, you will receive dial-in numbers and a unique PIN number. When you dial in, you will input your PIN and be routed into the call. If you register and forget your PIN, or lose the registration confirmation email, simply re-register to receive a new PIN.

About ATN
ATN International, Inc. (Nasdaq: ATNI), headquartered in Beverly, Massachusetts, is a leading provider of digital infrastructure and communications services for all. The Company operates in the United States and internationally, including the Caribbean region, with a focus on rural and remote markets with a growing demand for infrastructure investments. The Company’s operating subsidiaries today primarily provide: (i) advanced wireless and wireline connectivity to residential, business, and government customers, including a range of high-speed Internet and data services, fixed and mobile wireless solutions, and video and voice services; and (ii) carrier and enterprise communications services, such as terrestrial and submarine fiber optic transport, and communications tower facilities.
For more information, please visit www.atni.com.

Contact:
Michele Satrowsky
Corporate Treasurer
ATN International Inc.
978-619-1300

Adam Rogers
Investor Relations
[email protected]

Amrize AG (AMRZ) Q4 2025 Earnings Call Transcript

Devon Energy Corporation (DVN) Q4 2025 Earnings Call Transcript

CHONGQING, CHINA - AUGUST 08: In this photo illustration, a person holds a smartphone displaying the logo of Barrick Mining Corporation (NYSE: B), one of the world's leading gold and copper mining companies, with the company's initial B logo visible in the background, on August 8, 2025 in Chongqing, China. (Photo illustration by Cheng Xin/Getty Images)

Getty Images

From August 2025 to February 2026, Barrick Mining (B) experienced an 85% increase driven by record cash flow and an ambitious dividend increase, showcasing operational robustness and strategic changes. However, a recent 8% downturn suggests investor apprehension after a minor reduction in 2026 gold production forecasts.

Here is a detailed analysis of stock movement based on key contributing factors.

B

Trefis

What does this signify? The stock rose 85% as revenues increased 23% and the net income margin escalated by 47%, while a consistent P/E ratio and a modest reduction in shares illustrated solid operational improvements encouraging investor trust.

Here Is Why Barrick Mining Stock Moved

Explosive Cash Generation: Q4 operating cash flow reached an unprecedented $2.73 billion, indicating direct margin expansion from elevated commodity prices on consistent production levels.Aggressive Capital Returns: A newly established dividend policy aimed at 50% of free cash flow led to a 140% increase in dividends to $0.42/share, highlighting a fundamental shift toward shareholder returns.Copper’s Strategic Impact: Copper’s contribution rose to 30% of total EBITDA in Q4, confirming that the dual-commodity approach is significantly reducing the business’s exposure to gold price fluctuations.Unlocking Value via IPO: The board sanctioned an IPO for its North American gold assets, a tactical decision to reveal embedded value by establishing a distinct investment vehicle focused solely on core operations.Recent Trajectory Change: The stock experienced a decline of over 8% following earnings as the 2026 gold production forecast of 2.9-3.25M oz was lower than the 3.26M oz produced in 2025.Current Assessment Of B Stock

The primary investment discussion revolves around: Can unprecedented gold prices and substantial cash flow conceal the weakening core operations characterized by decreasing production and sharply increasing costs?

MORE FOR YOU

The prevailing mood seems to be negative. The impressive cash flow stems from pricing, not sustainable operational capabilities. The market reacted negatively to the stock after earnings, indicating that fading production volumes and soaring cost projections are undermining the investment thesis.

Bull View - High gold prices offer substantial margin leverage and free cash flow, making operational challenges manageable. The stock stands to gain greatly from the commodity supercycle.

Bear View - Decreasing production (FY25: -17%), diminishing reserves, and escalating cost projections (FY26 AISC +8-19%) highlight a fundamentally fragile business dependent on unstable spot prices.

Handling the contrasting bull and bear perspectives of any individual stock involves inherent volatility. Effectively managing this idiosyncratic risk requires a more comprehensive portfolio strategy.

Why HNI Portfolios Choose Multi-Asset Portfolios Over Stock Picking

In times of uncertainty that influence daily trading, wise investors concentrate on the broader perspective. Our partner’s wealth strategies assist you in navigating fluctuating market cycles.

Would a portfolio comprising 10% commodities, 10% gold, and 2% crypto offer better protection if markets faced a 20% decline? In today’s unpredictable environment, diversifying beyond stocks is essential. We have analyzed the data and concluded that multi-asset allocation is crucial. Our wealth management partner helps HNIs put these strategies into action, utilizing tools like the Trefis High Quality Portfolio to enhance the equity sector.

On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research Todd Rosenbluth discussed the NEOS Russell 2000 High Income ETF (IWMI) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF.

[cky_video_placeholder_title]

Chuck Jaffe: One fund, on point for today. The expert to talk about it. Welcome to the ETF of the Week!

Yes, welcome to the ETF of the Week. That’s where we examine trending, newsworthy, unique, and intriguing exchange-traded funds with Todd Rosenbluth. He’s the Head of Research at VettaFi, and at VettaFi.com, they’ve developed a full suite of tools that you can dig into that will make you a better, smarter investor in exchange-traded funds.

Todd Rosenbluth, great to chat with you again!

Todd Rosenbluth: It’s great to be back, Chuck.

Chuck Jaffe: Your ETF of the Week is…

Todd Rosenbluth: The NEOS Russell 2000 High Income ETF. The ticker is IWMI.

Chuck Jaffe: IWMI, the NEOS Russell 2000 High Income ETF. And if that ticker or that name rings a bell, that’s because this was ETF of the Week back in 2024, and right after it came out, because it was kind of a new-fangled fund at that time. There’s been a bunch of others and sisters and what-have-you that have come out since. But why is this fund back as ETF of the Week now?

Todd Rosenbluth: So, a few reasons. One, you’re right; we talked about it when it first came out. It now has over $600 million in assets. NEOS has roughly $20 billion—billion with a “B”—$20 billion in assets under management. They’ve had a tremendous year in the past year. Small-caps are back in focus for many investors. Small-caps tend to do well after the Fed has started cutting interest rates; investors are gravitating to small-caps.

Small-caps do better than large caps in the month of January. But what’s interesting to me is IWM, which is the iShares Russell 2000 ETF—which does not have an options overlay to it, does not generate any income—has actually seen continued net outflows, whereas IWMI has seen inflows this year and, of course, in 2025. 

So, investors are choosing the higher-income alternative to get exposure to small caps. Worth revisiting, in my opinion.

Chuck Jaffe: The consumer choosing the higher-income strategy is always something they’re going to do. I mean, I always go back to when we started seeing funds that were created that were, you know, absolute return funds, et cetera, and it’s like, who picks a one or a three when you can get a five or a seven? 

Well, it’s the same sort of thing. Who buys the index when you can buy the index with the income on it? 

But there are some folks who are concerned that the options overlay funds are maybe heading for trouble, et cetera. So one, can they handle this big influx of money? And two, have they performed to this point? Because again, we now have about a two-year track record on this fund, as you would have expected.

Todd Rosenbluth: A couple of things. One, I think this fund and NEOS can handle the flows that have been going in. NEOS has grown its team. Its grown its scale and its capabilities. And this is what they do—this being options income strategies. They do it in a tax-efficient way. They use index options. They’ve been doing this for a number of years with a number of individual strategies, coming out initially with large-cap versions as ETFs that we’ve talked about.

Small-caps don’t typically pay dividends. So the iShares Russell 2000 ETF, IWM, yields 1%, whereas IWMI, the NEOS product, is offering 14%. Now, typically in my old-school days—and maybe your old-school days—when you saw a yield that was climbing, that was a sign of potential risk, because the dividend could get cut for an individual stock or an ETF at a high dividend yield. I mean, it was investing in companies where the dividend could be cut. That’s not been the case.

NEOS has a track record for this ETF, has a track record for its broader suite of delivering income on a consistent basis. And what we find is this—actually using options income—can be downside-protecting. It isn’t the pure goal—it’s generating higher income—but it is providing some downside protection during times of volatility. There will be times of volatility for small-caps. I like that IWMI is offering that benefit of exposure.

Chuck Jaffe: We recently had on Money Life Cullen Roche from the Discipline Funds, and he’s not a big fan of these, but he’s not alone. I mean, I think the most pointed commentary I’ve seen was from Daniel Villalon, who is Cliff Asness’s partner at AQR. 

And he was looking at that claim that you get downside protection, and he said that, yes, that’s what they provide in theory, but that—and he wasn’t speaking specific to any one fund—he was saying of the funds that go back as far as 2020— so there’s about 100 of those , if you look at something with an options overlay strategy—they didn’t actually provide much downside protection and they didn’t really outperform the benchmark if their benchmark was the S&P.

So, just out of curiosity, because there is some division over these—while I know you like the structure and I know you talk with the people—is there a point for you that it has to be a certain age or what-have-you to go: ‘There, now, I’m 100% convinced, that this is the way I want to play it’, or has it reached that already and you’re not worried about the criticisms? I’m curious because, like I said, this is an area that, even since you first talked about it, we’ve had more division on my show than we have on most areas in the ETF space.

Todd Rosenbluth: I think that there’s division about options-based ETFs in general. And I think — I don’t know about Cullen’s comments, but what we saw from the other commenter that you were talking about was more concerns about downside protection and buffer ETFs than they were about higher-income ETFs. So, I mentioned downside protection; this is a secondary or tertiary benefit of investing in IWMI is that using options to generate income could provide some level of downside protection.

But what you’re really getting is that income, that 14% yield. And so since the fund has been out there, I think it’s performed relatively well. I had in front of me just a one-year chart and it’s neck-and-neck with IWM in an up market, which is a good sign to me. It’s just generating returns in a different manner.

I’ve seen the NEOS team and examples of how their other options-based products and how they’re  performing relative to other — so, NEOS’ options-based products and how they perform relative to peer options-based products that are trying to generate income. And they being the NEOS products have performed relatively well. 

I don’t think it’s as easy a comparison, or an appropriate comparison, to compare just a non-hedged or non-options or non-income-generating strategy with the one that does offer it. It’s got two different objectives. If what you, as an investor or an advisor listening to this, are looking for income in a tax-efficient manner using ETFs and you want small-cap exposure, IWMI is a great example of a fund to consider.

Chuck Jaffe: Does this discussion we’re having also kind of make sure that, look, if you’re an investor and you’re going to look at this fund, really get into understanding how the options stuff works? And especially if you’re looking at options funds generally? I mean, you bring ideas to the table and you’re always saying “look and explore.” 

But again, given the discussion that’s out there and that some of it’s the buffers, et cetera, if you’re going to dig into these newer products and you’re going to buy a sales pitch that says they’re new and improved, make sure you understand that you’re getting improvements that you trusted, right?

Todd Rosenbluth: Yes, completely. So, we’re talking about ideas here. We do this on a weekly basis. We rotate through different strategies and firms and investment styles. So I very much encourage listeners and watchers—if you’re watching a video of this—to do your homework, to do your due diligence. Visit the NEOS website. 

In fact, they also have a podcast that they do on a monthly basis talking about their strategies. Hear from them directly. You might even want to reach out to them and see if you can have your questions answered; that perhaps is possible. So, I very much encourage people to learn what they can about these products before putting IWMI into a portfolio.

But what we found is that you can complement an existing strategy. If you have small-caps and you want income, this can complement that. If you don’t have small-caps because you think they’re too risky and you want income—and a 1% yield is not good enough for you—then this could be a good way of going. NEOS has the expertise.

Chuck Jaffe: I’ve talked to a number of people who say they’re expecting the broadening, they’re expecting a small-cap rally, et cetera. I mean, you could have picked a lot of different flavors of NEOS high income. You could have gone toward something that’s more towards the Q’s and everything else. Is there a bit of a call on small-caps in here for you—that you’re in agreement with the camp that says the small-cap rally that we’ve seen a little bit of is actually going to hold this time?

Todd Rosenbluth: So, I think so, and we shall see. But we’ve seen a rally. Small-caps historically do well when the Fed has cut and might continue to cut in the future. And investors are looking for small-cap strategies. I think IWMI is a good one to consider.

Chuck Jaffe: It’s IWMI, the NEOS Russell 2000 High Income ETF. The ETF of the Week from Todd Rosenbluth at VettaFi. Todd, great stuff. We’ll see you again next week!

Todd Rosenbluth: Thanks a lot, Chuck.

Chuck Jaffe: The ETF of the Week is a joint production of VettaFi. The ETF of the Week is a joint production of VettaFi and Money Life with Chuck Jaffe. And yeah, I’m Chuck Jaffe. You can find my hour-long weekday podcast at MoneyLifeShow.com or by searching for it on your favorite podcast app.

And by the way, you know, Todd was talking about asking questions to ETF companies. You can ask them of Todd. Just send them to me: [email protected]. We’d love to get them. 

Now, if you want to get more information on the ETFs we discuss or the ones in your portfolio, go to VettaFi.com, where they’ve got a full suite of tools that will help make you a better investor. They’re on X at @Vetta_Fi. Todd Rosenbluth, their head of research, my guest—he’s there too. He’s at @ToddRosenbluth.

The ETF of the Week is here for you every Thursday. Please, don’t miss an episode. Just sign up on your favorite podcast app to get this each week. And we’ll be back with another ETF for you to consider next week. Until then, happy investing, everybody!

Note: This article was created in part through assistance from AI tools. The content has been thoroughly reviewed and edited by the author. 

For more news, information, and analysis, visit the Tax-Efficient Income Content Hub.

Fortive Corporation (FTV) Presents at Barclays 43rd Annual Industrial Select Conference Transcript

Global Payments Inc. (GPN) Q4 2025 Earnings Call February 18, 2026 8:00 AM EST

Company Participants

Nathan Rozof - Head of Investor Relations
Cameron Bready - CEO & Director
Joshua Whipple - Senior EVP & CFO
Robert Cortopassi - President & COO

Conference Call Participants

David Koning - Robert W. Baird & Co. Incorporated, Research Division
Darrin Peller - Wolfe Research, LLC
Dan Dolev - Mizuho Securities USA LLC, Research Division
Ramsey El-Assal - Cantor Fitzgerald & Co., Research Division
Adam Frisch - Evercore ISI Institutional Equities, Research Division
Tien-Tsin Huang - JPMorgan Chase & Co, Research Division
Andrew Schmidt - KeyBanc Capital Markets Inc., Research Division
Dominic Ball - Rothschild & Co Redburn, Research Division
Jeffrey Cantwell - Seaport Research Partners
Jason Kupferberg - Wells Fargo Securities, LLC, Research Division

Presentation

Operator

Ladies and gentlemen, thank you for standing by, and welcome to Global Payments Fourth Quarter and Full Year 2025 Earnings Conference Call. [Operator Instructions]. As a reminder, today's conference will be recorded. At this time, I would like to turn the conference over to your host, Senior Vice President, Investor Relations, Nate Rozof. Please go ahead.

Nathan Rozof
Head of Investor Relations

Good morning. Welcome to Global Payments Fourth Quarter and Full Year 2025 Conference Call. Joining us today is our CEO, Cameron Bready; CFO, Josh Whipple; and COO, Bob Cortopassi.

Some of the comments made during today's conference call will contain forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied and we caution you not to place undue reliance upon them. They speak only as of the date of this call, and we take no obligation to update them.

In addition, we will be referring to several non-GAAP financial measures. For a full reconciliation of the non-GAAP financial measures to our most comparable GAAP

HomeStock IdeasLong IdeasCommunication Services

SummaryAlphabet Inc. is upgraded to Strong Buy, with a $440 base case price target, reflecting robust AI-driven growth and strong Q4 results.GOOGL's search and cloud segments delivered record growth, with AI tools acting as catalysts, not cannibalizers, for core businesses.Gemini has evolved into a full AI platform, driving user and enterprise adoption, while serving costs dropped 78% in 2025, supporting margins.Despite a near doubling of FY26 capex guidance, momentum in AI monetization and cloud backlog justifies increased investment and supports valuation upside. Eloi_Omella/iStock via Getty Images

Investment Thesis The last time I wrote about Alphabet Inc. (NASDAQ: (GOOGL)), in November 2025, I analyzed the road ahead for investors post the company’s Q3 report, especially around the time that the AI trade

Analyst’s Disclosure: I/we have a beneficial long position in the shares of GOOGL, MSFT 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.

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.

New York, New York--(Newsfile Corp. - February 18, 2026) - Levi & Korsinsky notifies investors that it has commenced an investigation into Gartner, Inc. ("Gartner, Inc.") (NYSE: IT) concerning potential violations of the federal securities laws.

SEC Regulation G and Item 10(e) of Regulation S-K establish disclosure requirements for companies presenting non-GAAP financial measures. These rules require that adjusted metrics be reconciled to the most directly comparable GAAP measure and that GAAP results receive equal or greater prominence. The regulations aim to prevent companies from using adjusted presentations to obscure underlying performance trends.

Gartner's February 3, 2026 fourth quarter earnings release presented a narrative that emphasized the company's earnings-per-share beat relative to analyst estimates. However, the same release disclosed that revenue fell short of consensus expectations and that the company was issuing a full-year 2026 outlook that demonstrated a year-over-year decline. The investigation will examine the relative prominence given to each metric in the company's communications.

The company had previously guided investors to expect adjusted EPS of at least $12.65 for 2025, with CFO Craig Safian noting that the guidance was based on 78 million shares and assumed "repurchases to offset dilution." Gartner repurchased more than $1 billion of stock during Q3 2025, reducing share count by 6% year-over-year. The investigation will examine whether the EPS guidance and share-count assumptions were realistic given management's knowledge of revenue trends.

Following the earnings release, Gartner shares declined more than 20% in midday trading, reaching a new 52-week low below $160. Trading volume increased significantly above normal levels.

If you suffered a loss on your Gartner, Inc. securities and would like to explore a potential recovery under the federal securities laws, Learn More About the Investigation or contact Joseph E. Levi, Esq. via email at [email protected] or call (212)363-7500 to speak to our team of experienced shareholder advocates.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
Fax: (212)363-7171

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284374

Source: Levi & Korsinsky, LLP

CHICAGO, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Cosmos Health Inc. ("Cosmos Health" or the “Company”) (NASDAQ:COSM), a diversified, vertically integrated global healthcare group, today announced continued expansion of its United Kingdom (UK) retail footprint as its antimicrobial skin cleanser, C-Scrub Wash Chlorhexidine 4% (“C-Scrub”), is now available through Superdrug, the UK’s second-largest beauty and health retailer.

Established over 60 years ago, Superdrug is widely recognized for its leadership in health, wellness, and personal care categories and operates more than 830 stores across the UK and the Republic of Ireland, including over 200 in-store pharmacies and a growing number of health clinics, complemented by a strong online e-commerce platform.

C-Scrub Listed on Superdrug.com

C-Scrub is a powerful antiseptic wash offering reliable skin disinfectant properties. It is designed to reduce bacteria and help prevent infection, supporting effective skin hygiene. Expanding into Superdrug’s extensive retail and pharmacy network represents a strategic enhancement of Cosmos Health’s UK market positioning and further increases C-Scrub’s exposure within a focused consumer healthcare environment.

Greg Siokas, CEO of Cosmos Health, stated: “Our entry into Superdrug further reinforces the growing retail momentum for C-Scrub in the UK. Establishing presence across online, broad-based, and health-focused retail platforms significantly strengthens our market positioning. This continued expansion increases brand reach and supports the long-term development of our broader product portfolio across the region.”

About Cosmos Health Inc.
Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept® and C-Scrub®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, www.zipdoctor.co, www.cloudscreen.gr, as well as LinkedIn and X.

Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” and similar expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could,” generally identify forward-looking statements, although not all forward-looking statements contain these words. These statements involve risks and uncertainties that may individually or materially affect the matters discussed herein for a variety of reasons outside the Company’s control, including, but not limited to: the Company’s ability to raise sufficient financing to implement its business plan; the effectiveness of its digital asset strategies, including accumulation and yield-generating activities; the impact of the war in Ukraine on the Company’s business, operations, and the economy in general; and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those anticipated. Readers are encouraged to review the risk factors set forth in the Company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The Company disclaims any obligation to update or revise forward-looking statements, whether as a result of any new information, future events, or otherwise.

Investor Relations Contact:
BDG Communications
[email protected] 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/28921cdd-6f72-4904-aac4-f42521cc53b9

KP Tissue Inc. (KPT:CA) Q4 2025 Earnings Call February 18, 2026 8:30 AM EST

Company Participants

Doris Grbic
Dino Bianco - Chief Executive Officer
Michael Keays - Chief Financial Officer

Conference Call Participants

Ahmed Abdullah - National Bank Financial, Inc., Research Division
Hamir Patel - CIBC Capital Markets, Research Division
Sean Steuart - TD Cowen, Research Division
Frederic Tremblay - Desjardins Securities Inc., Research Division

Presentation

Operator

Good morning, and welcome to KP Tissue's Fourth Quarter 2025 Results Conference Call. Note that today's call is being recorded for replay. [Operator Instructions].

I will now turn the call over to Doris Grbic, Director of Investor Relations. You may begin your conference.

Doris Grbic

Thank you, operator. Good morning, everyone, and thank you for joining us to review Kruger Products Fourth Quarter 2025 Financial Results. With me this morning is Dino Bianco, the CEO of KP Tissue and Kruger Products; and Michael Keays, the CFO of KP Tissue and Kruger Products.

Today's discussion will include certain forward-looking statements. Actual results could differ materially from these forward-looking statements due to known and unknown risks and uncertainties. A list of risk factors can be found in our public filings. In addition, today's discussion will include certain non-GAAP financial measures. The reconciliation of these non-GAAP financial measures to the most comparable GAAP measure can be found in our MD&A.

The press release reporting our Q4 2025 results was published this morning and will be available on our website at kptissueinc.com. The financial statements and MD&A will also be posted on our website and on SEDAR. The investor presentation to accompany today's discussion can be found in the Investor Relations section of our website.

I will now turn the call over to our CEO, Dino Bianco. Dino?

Dino Bianco
Chief Executive Officer

Thank you, Doris. Good morning, everyone, and thank you for

Global-E Online Ltd. (GLBE) Q4 2025 Earnings Call Transcript