Market Signal Briefing

Journalist

Posted: February 6, 2026

On the macro side, the market’s risk-off mood has hit most risk assets, and short-term holders are usually the first to fold. So far in Q1, pretty much all the big-cap coins are feeling the pressure, with weak hands shaking out.

That said, any rebound really comes down to long-term holders keeping their conviction. Take Ethereum [ETH], as an example. It’s roughly 45% off its September peak at $3,500, putting a lot of LTHs underwater.

On top of that, Vitalik’s recent comments haven’t helped sentiment. His take on the “copy-paste” approach for L2s and alternative L1s has stirred some extra FUD, leaving traders unsure about ETH’s short-term direction.

Source: X

That reaction isn’t too surprising though. Lately, Ethereum, and blockchains in general, aren’t really defined by price moves. The real story is deeper adoption, which relies on solid infrastructure rather than “hype.”

Buterin’s comments fit that narrative. He recently stressed that scaling should be the focus, instead of just pumping out more L1s, even for EVM chains. The real push should be on innovation, improving privacy, building more apps etc.

In short, his vision leans towards long-term growth for blockchain and Ethereum by extension. Naturally, the question arises – Is ETH really setting the stage for the long run, with recent sell-offs just a short-term shakeout?

What Ethereum’s metrics say about the road ahead Looking at Ethereum, this breakdown isn’t just profit-taking. 

In fact, ETH has emerged as the worst-performing asset in this downturn, dropping by about 30% just this week. Consequently, the pullback seems more like a sentiment-driven crash, fueled by forced exits and panic selling.

And yet, on-chain metrics might just tell us a different story.

Ethereum’s staking rate just hit a new all-time high, with roughly 30.3% of all ETH now staked. Exchange balances have continued to fall sharply too, down to only 16.2 million ETH.

Source: CryptoQuant

Taken together, this divergence backs AMBCrypto’s thesis.

From a technical standpoint, the short-term picture is rough. Rising FUD, ETF outflows, massive deleveraging, and a plunging ETH/BTC ratio have pushed Ethereum’s market share to a multi-month low of under 11%. 

That said, falling exchange reserves and rising staking volumes (two key metrics of long-term conviction) suggest the market may still be bullish on Buterin’s vision, reinforcing confidence in Ethereum’s long-term potential.

In this light, ETH’s recent sell-offs look more like macro-driven volatility and broader risk-off fear, than a problem with Ethereum itself. This makes this pullback feel like a short-term shakeout, rather than a fundamental shift.

Final Thoughts Ethereum’s 30–45% pullback and market volatility reflect macro-driven fear and weak-hand exits, not a loss of conviction. Rising staking rates and falling exchange balances mean that long-term holders may be staying bullish on Ethereum.

Ritika Gupta is a Financial Journalist and Geopolitical Analyst at AMBCrypto, specializing in the critical intersection of world politics, economic policy, and the cryptocurrency markets. Her analysis is informed by her distinguished background, which includes professional experience at major news network. She holds a Bachelor's degree in Political Science and Psychology from Gargi College, University of Delhi. This academic training provides her with a sophisticated framework for dissecting complex issues such as international regulations, government fiscal policies, and the geopolitical forces that directly influence asset valuations. At AMBCrypto, Ritika applies this expert lens to synthesize macroeconomic data and political developments, offering readers a deeper context for market movements. She excels at explaining not just what is happening in the market, but why it is happening. Her work is dedicated to providing strategic insights that empower readers to understand the complex relationship between global events and their digital assets.

Bitcoin bounced hard on Friday, jumping back to $70,072 after coming dangerously close to dipping under $60,000 earlier this week.

That’s an 11% intraday gain, but traders are warning this might just be a temporary spike. The Volmex Implied Volatility Index jumped from 57% to 97%, showing just how unstable things are right now.

Ether has broken clean through $2,000, after falling under $1,900 just a day earlier.

But the stress is still coming from the perpetual futures market, which hasn’t recovered since a wipeout in October triggered more than $3 billion in long Bitcoin positions getting liquidated. That constant flushing of bullish bets has made it harder for liquidity to rebuild.

According to Kaiko, market depth is still down over 35% from October levels, the last time it was this low was after FTX collapsed in 2022.

And now, Bitcoin funding rates have turned negative, dropping to levels not seen since March 2023, pointing to weak demand for long positions and growing short exposure.

Meanwhile, the stock market also came alive today. The Dow surged 918 points, up 1.9%, while the S&P 500 rose 1.4% and the Nasdaq climbed 1.5%.

Nvidia jumped 6%, and Microsoft gained 1%, recovering part of the brutal selloff they both suffered earlier this week. Amazon was the only loser in the group, tumbling 10% after reporting disappointing earnings and warning of $200 billion in capital spending this year.

The company operating cryptocurrency prediction platform Polymarket has taken formal steps toward launching its own digital token by filing trademark applications for two related names with federal authorities.

Blockratize Inc. submitted paperwork to the United States Patent and Trademark Office on Feb. 4 seeking protection for “POLY” and “$POLY,” documents show.

The applications showed up on the agency’s website early Friday morning. Officials have marked both filings as active and waiting for review, meaning they meet basic requirements but haven’t been looked at by an examiner yet.

Token plans move forward amid business expansion The filings cover several categories of business activity. These include computer programs for financial trading and cryptocurrency transactions, services related to digital tokens, and online platform services for electronic trading and settlement operations. Both applications were submitted under “intent to use” rules, which means the company isn’t using these names in business yet but plans to do so.

This paperwork marks a concrete step forward for token plans that Polymarket officials have discussed publicly for months. Back in October, the platform’s marketing chief Matthew Modabber said the company would release a POLY token and give some away to users for free.

Company founder Shayne Coplan also talked about the token publicly around the same time. While the trademark documents don’t say when the token might come out or how it would work, they line up with what executives said earlier and what people following the company have been expecting.

Interest in a possible Polymarket token has grown as prediction markets have gotten much bigger. The platform has become one of the busiest worldwide, handling $7.7 billion worth of trades just last month, based on figures from The Block’s tracking system.

Polymarket has also been building business relationships and raising money lately. In October, Intercontinental Exchange, which owns the New York Stock Exchange, put $2 billion into the company. That same month, Polymarket announced deals with major names including Google Finance, Yahoo Finance, DraftKings, and the National Hockey League.

The platform has drawn more attention as prediction markets connected to politics, sports, and major world events have expanded. At the same time, regulators in the United States and other countries have been watching these markets more closely.

Legal challenges complicate return to U.S. market Company leaders said back in October that they want to get their United States app running again before they focus on releasing the token. Sources said that Polymarket won’t launch its token until it has rebuilt its presence in the American market.

The company moved closer to that target in November when the Commodity Futures Trading Commission gave it permission to operate inside the country. That approval came nearly four years after Polymarket paid a $1.4 million penalty and stopped serving U.S. customers.

But the trademark filings arrive at a difficult moment for the company. While Polymarket works to get back into the U.S. market, it’s dealing with legal problems at the state level that could hurt its main way of doing business. A Nevada state court recently issued a temporary order stopping Polymarket from offering event-based contracts in that state.

The judge found the platform’s activities probably broke Nevada’s gambling laws. Polymarket responded by moving the case to federal court, arguing that the state’s action goes against federal law, according to Daniel Wallach, who runs Wallach Legal LLC, a law firm that handles sports betting and gaming cases.

While these legal fights continue, the trademark applications sit waiting for the patent office to review them. Polymarket hasn’t made any public statements about the trademark filings and hasn’t shared more information about when the POLY token might launch.

On Myriad, a prediction market run by Dastan, users are betting there’s only a 30% chance Polymarket will announce its token before May arrives.

Source: Myriad

Big Tech companies' planned $500 billion war chest to dominate artificial intelligence could offer a lifeline to a Bitcoin mining industry teetering on the edge of capitulation.

The headline numbers are eye-watering. Alphabet, Google’s parent, alone plans to spend as much as $185 billion this year.

However, the capital surge will involve more than buying chips and servers, as Microsoft and Meta are also increasing AI budgets.

This means that the real race is now being fought over physical infrastructure, including pipelines, grid interconnections, and the scramble to secure large blocks of power capacity.

Thus, the projected spending will reshape power markets and put a premium on the one asset distressed Bitcoin miners still control: “ready-to-run” energy infrastructure.

For Bitcoin miners seeking to reinvent themselves as data center landlords, this spending surge presents a massive growth opportunity precisely when their core business is under siege.

A mining industry under severe financial stressThe timing of these firms' planned spending surge matters because miners are operating under some of the weakest economic conditions in Bitcoin’s history.

Data from CryptoQuant indicate that the recent market correction has pushed miners into what the firm describes as a phase of “miner capitulation,” a period marked by acute financial stress that has historically coincided with local market bottoms.

The pressure is visible across multiple indicators. CryptoQuant’s Miner Profit/Loss Sustainability metric has fallen to -30, indicating that miners’ daily revenue in US dollar terms is approximately 30% lower than it was 30 days earlier.

Bitcoin Miner Profit and Loss Sustainability (Source: CryptoQuant)The indicator has entered the  “extremely underpaid” zone, a level that indicates widespread unprofitability among operators.

At the same time, the Puell Multiple, another measure of miner revenue relative to historical norms, has dropped to 0.69, reinforcing the view that mining economics have deteriorated sharply.

At these levels, inefficient miners are typically forced to shut down machines, sell assets, or liquidate Bitcoin holdings to survive.

Notably, some of these miners have already been offloading their BTC holdings in the current bear market.

CryptoQuant’s Miner Position Index (MPI) and Exchange-Miner Mean Inflow metrics have both spiked in recent weeks, signaling that large mining entities are moving Bitcoin to exchanges at an accelerated pace.

In January alone, miners transferred approximately 175,000 Bitcoin to Binance, an unusually high figure relative to stable periods.

According to CryptoQuant data, the activity was punctuated by sharp bursts of outflows, with single-day transfers reaching nearly 10,000 Bitcoin.

Bitcoin Miners Transfers to Exchanges in January (Source: CryptoQuant)Such spikes point to deliberate liquidity decisions rather than routine treasury management. While transferring Bitcoin to exchanges does not guarantee immediate selling, it increases available supply on order books.

In a weak-demand environment, that supply can translate into short-term price pressure, reinforcing the feedback loop and squeezing miners’ margins.

Historically, periods when miners are “extremely underpaid” and selling pressure peaks have preceded cyclical bottoms. But the clearing process can be brutal, and not every operator survives it.

Why these AI spending changes the equationThis is the backdrop against which a big tech firm's $500 billion capital expenditure plan becomes relevant for miners.

The AI boom has created a bottleneck that GPUs alone cannot solve. Compute deployment is increasingly constrained by access to electricity, cooling capacity, grid interconnections, and permitting. Those constraints align closely with the assets miners already control.

Over the past decade, large miners have assembled power-heavy campuses designed to run dense compute loads around the clock. They have negotiated long-term power agreements, built transmission links, and learned to operate energy-intensive infrastructure at scale.

While Bitcoin mining hardware is not interchangeable with AI servers, the underlying sites are scarce and increasingly valuable.

Big tech firm's decision to press ahead with AI investment signals that demand for compute remains strong enough to justify building through those constraints rather than waiting for them to ease.

That demand directly supports the economics of converting or co-developing mining sites into high-performance computing facilities at a time when Bitcoin-derived revenue is collapsing.

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For context, Alphabet-owned Google has provided at least $5 billion of disclosed credit support behind a handful of BTC miners' AI projects.

Those backstops lower counterparty risk and make projects financeable on terms that would be difficult for miners to secure on their own, especially during a downturn.

These structures matter because they transform a miner’s profile. Instead of relying entirely on volatile Bitcoin rewards, operators gain long-duration, contracted cash flows that can be financed like infrastructure.

For an industry currently forced to sell Bitcoin to stay afloat, that stability is powerful and could provide a durable lifeline.

What the $500 billion really representsIn practical terms, the big tech firm's planned $500 billion in AI capex is positive for Bitcoin miners for three reasons.

First, it reinforces demand for AI data center capacity at a time when mining revenue metrics show miners are extremely underpaid and under pressure to capitulate.

Second, it elevates the value of miners’ core asset, power-ready campuses, precisely when on-chain data shows miners are being forced to sell Bitcoin to cover costs.

Third, through backstops and structured financing, firms like Google are effectively underwriting the transition, turning distressed crypto operators into viable infrastructure partners.

That combination explains why, in the middle of one of the harshest periods for mining profitability on record, the big tech firm's AI spending boom is being viewed by miners not as competition for power, but as a potential lifeline.

A paradox for Bitcoin’s security modelThere is, however, an uncomfortable flip side to this lifeline.

The current miner capitulation is coinciding with a structural shift in how infrastructure is utilized.

When miners temporarily shut down due to price declines, Bitcoin’s difficulty adjustment can eventually restore balance. But when sites are permanently repurposed for AI under 15-year leases, that power capacity is removed from the network’s security budget indefinitely.

Market observers note that the conversion of mining infrastructure to AI could have long-term implications for Bitcoin’s hashrate, even if the absolute security level remains high today.

A sustained reduction in marginal mining capacity increases centralization risks and lowers the cost of attacking the network at the margin.

From a market perspective, the tension reflects the stakes: Big Tech’s spending can help mining companies survive and stabilize their balance sheets, but it accelerates a reallocation of resources away from Bitcoin toward higher-paying AI workloads.

Mentioned in this articlePosted in

Strategy Inc (NASDAQ:MSTR) shares surged 22% Friday as TD Cowen maintained its $440 price target, arguing there is “no reasonable scenario” forcing the company to sell Bitcoin (CRYPTO: BTC) despite trading underwater on its holdings. The Bull Case Amid Carnage TD Cowen analysts Lance Vitanza and Jonnathan Navarrete said Strategy is “better positioned than ever” to participate in a potential recovery, even as the premise looks strained amid steep declines.

Bitcoin’s market shook hard on a single day of trading, sending prices tumbling to $65,000 and nerves flaring. Reports note the move wiped out a big chunk of recent gains and pushed many recent buyers into loss.

Price action this sharp rarely comes without a story behind it — and this one had several threads pulling at once.

Bitcoin: Capitulation And Selling Pressure According to Glassnode, the spike in forced sales is one of the biggest seen in about two years. Traders who had used borrowed money were hit first.

Liquidations swept through positions, and many coins moved from hands that bought recently to hands that sold quickly.

Realized losses climbed to the highest levels since late 2022, with close to $890 million a day recorded on a seven-day average.

The sell-off unfolded over roughly 10 hours of intense trading, with panic and program trades both playing a role.

The $BTC capitulation metric has printed its second-largest spike in two years, highlighting a sharp escalation in forced selling.
These stress events typically coincide with accelerated de-risking and elevated volatility as market participants reset positioning.… pic.twitter.com/mcvVqXJcYq

— glassnode (@glassnode) February 5, 2026

Prices Fall Below Buyer Cost Lines Reports say Bitcoin’s market price has fallen under several on-chain cost markers that many investors watch. Short-term buyers who picked up coins in recent months now sit below their purchase price.

That creates a kind of pressure where emotional selling can feed into more selling. Active investor costs and broader market averages were all above the spot price, which made the slide feel deeper.

When a market drops under the average cost of recent buyers, volatility tends to rise and traders begin hunting for the next reliable support.

Bitcoin is currently trading at $65,878. Chart: TradingView News Flow And Timing The move comes after a run of strong gains earlier in the year. Price was last at these levels back in November 2024, just before US President Donald Trump won his reelection.

That timing put the fall in sharper relief for some observers who had started to see those prior highs as a fresh floor.

Headlines and big trades added friction to the market. Social chatter and rapid shifts in order books amplified selling, and some long-term holders did move to lock in gains or cut risk.

What The Numbers Tell Us Based on on-chain measures, the recent drop forced a large group of holders to realize losses, not just paper losses but actual transactions where coins left wallets at a lower price than they were bought.

That kind of clearing can remove built-up leverage and leave a cleaner market on the other side. It also leaves fewer buyers near current levels, which means rebounds can be choppy and uneven.

Featured image from Unsplash, chart from TradingView

The LINK price is trading near $8.60, under pressure despite a fresh catalyst from the Chainlink Reserve, which added over 125,000 LINK in a single update. While broader crypto markets weaken, on-chain accumulation and ETF flows suggest a widening disconnect between price action and underlying demand.

Chainlink Reserve Growth Signals Long-Term CommitmentThe Chainlink Reserve continues to expand its footprint as a long-term sustainability mechanism for the network. According to official data, the reserve has accumulated 125,454.48 LINK, bringing total holdings to approximately 1.9 million LINK. This reserve is funded through a combination of off-chain enterprise revenue and on-chain service usage, reinforcing its role as infrastructure rather than a market-facing liquidity tool.

RESERVE UPDATE

Today, the Chainlink Reserve has accumulated 125,454.48 LINK.

The Chainlink Reserve now holds a total of 1,899,670.39 LINK.https://t.co/oxMv5N3rFC

The Chainlink Reserve is designed to support the long-term growth and sustainability of the Chainlink Network by… pic.twitter.com/uaLv42504k

— Chainlink (@chainlink) February 5, 2026 Meanwhile, this steady accumulation occurs independently of short-term LINK price USD fluctuations. That separation is notable. Historically, reserves of this nature tend to grow during periods of suppressed market confidence, when usage-driven revenues quietly outpace speculative demand.

At the same time, the reserve’s design reduces reliance on inflationary incentives, aligning with Chainlink’s broader goal of long-term network sustainability rather than cyclical price appreciation.

ETF Inflows Contrast Broader Crypto OutflowsFrom a flows perspective, Chainlink stands out. While Bitcoin and Ethereum ETFs have experienced consistent outflows during recent market stress, LINK ETF products have yet to record a single day of net outflows. Data shows cumulative inflows of $78.63 million, representing roughly 1.11% of LINK’s market capitalization.

Notably, institutional vehicles such as Grayscale and Bitwise have maintained their exposure even as volatility increased. That persistence suggests portfolio-level conviction rather than momentum-driven positioning. Still, ETF stability alone has not insulated the LINK price chart from downside pressure.

Whale Distribution Adds Near-Term PressureThat said, on-chain supply distribution reveals a more complex picture. Addresses holding between 1 million and 10 million LINK have been net sellers over the past 48 hours. This cohort historically acts as a liquidity driver during periods of market stress, and their activity aligns with recent downside moves.

Conversely, wallets holding 100,000 to 1 million LINK continue to accumulate. This divergence suggests a transfer of supply from larger entities to mid-sized holders rather than broad capitulation. Still, until selling from the upper bracket cools, downward pressure on LINK crypto markets may persist.

Technical Zones and Risk FramingFrom a technical perspective, analysts continue to closely monitor lower channel supports. If demand weakens further, $5 appears as a historically relevant zone where price compression previously stabilized. A deeper downside scenario places attention on the $1.20 region, which aligns with long-term cycle extremes rather than base expectations.

Still, the LINK price analysis suggests that these levels on chart function more as stress-test markers than forecasts. With the LINK price already down materially from cycle highs, further declines would likely require sustained macro deterioration and continued whale distribution.

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Journalist

Posted: February 6, 2026

XRP staged a sharp rebound on 6 February after suffering a steep sell-off in the previous trading session. The move highlights the fragile and highly reactive state of the broader crypto market.

During the 5 February session, XRP fell by 19.64% to trade at $1.21, sliding alongside a wider market drawdown that also pushed Bitcoin sharply lower. 

The decline was fast and disorderly, with elevated volume pointing to forced selling rather than a controlled pullback. By the end of the session, XRP had retraced to levels not seen in weeks, placing the token firmly in short-term capitulation territory.

However, sentiment shifted quickly in the following session.

A fast rebound, not a quiet recovery On 6 February, XRP surged by more than 24% intraday, rebounding to trade around $1.50 after briefly dipping to the low-$1.20s during the sell-off. 

The speed of the recovery stands out, particularly given that Bitcoin’s rebound, while notable, was comparatively restrained.

Source: TradingView

Trading volume remained elevated during the bounce, with 449 million recorded as of this writing. This suggests active repositioning by traders rather than a low-liquidity drift higher. 

This kind of price action typically reflects a combination of short-covering and dip-buying, especially after sharp downside moves flush out overleveraged positions.

Volatility still driving XRP price action Despite the rebound, the structure of XRP’s recent move points to continued volatility rather than a clean trend reversal. Momentum indicators show that while downside pressure eased, price action remains reactive and sensitive to broader market moves.

Notably, sentiment readings have stayed relatively high even after the sell-off, indicating that market confidence has not fully reset. As of this writing, the sentiment was around 78%. 

Historically, this mismatch — sharp price declines without a deeper sentiment reset — often coincides with choppy trading conditions rather than sustained directional moves.

Bitcoin stabilizes, but XRP remains the swing trade Bitcoin also recovered during the same session, climbing back above recent lows to trade at $70,000, after briefly dipping below key psychological levels. 

However, XRP’s sharper rebound underscores its higher beta profile during periods of market stress.

While this relative strength may attract short-term traders, it also reinforces the idea that XRP remains particularly sensitive to shifts in risk appetite. 

Until volatility subsides and price structure stabilizes, outsized moves in both directions are likely to persist.

Final Thoughts XRP’s rebound reflects a volatility-driven snapback after a near-20% sell-off, not a confirmed trend reversal. With sentiment still elevated, price action may remain unstable as traders react to broader market signals.

In brief South Korean exchange Bithumb mistakenly credited users with 2,000 BTC each instead of a tiny cash reward. The error was corrected within five minutes, but not before users sold an estimated $2 billion worth, per local reports. The sell-off, only on Bithumb's internal ledger and not on-chain, still triggered a sharp Bitcoin price crash on the exchange. A South Korean crypto exchange accidentally credited users with billions of dollars’ worth of Bitcoin this week, triggering a flash crash in the platform’s listed value of the token.

Instead of airdropping users 2,000 won (a sum worth $1.37 at writing), the exchange, Bithumb, reportedly sent 2,000 BTC apiece, users said. That massive sum was worth some $142 million at writing, with Bitcoin recently trading around $71,000.

According to local reports, the accidental transfers were made as part of a “Random Box” giveaway, where 96% of recipients were poised to receive the lowest-value prize (presumably, the 2,000 won).

Around 700 Bithumb users bought Random Boxes, meaning roughly 672 likely received the erroneous Bitcoin. That would put the current value of Bitcoin accidentally transferred to Bithumb customers at over $95.4 billion.

The deposits were recorded only on Bithumb’s internal ledgers, though, and didn’t involve actual on-chain transfers of Bitcoin. The irregularity was detected and corrected within five minutes, the company said today in a blog post.

But that was plenty enough time for some amazed Bithumb users to attempt to sell off the funds and make millions off the company’s error. Korean financial authorities estimate that users managed to sell off over $2 billion worth of the phantom Bitcoin in that window, per local reports.

Such a rapid sell-off immediately plunged Bitcoin's price on the exchange to $55,000—far below prices on other exchanges, despite the cryptocurrency’s recent downturn. The price of Bitcoin bottomed out around $60,000 on most exchanges Thursday before rebounding to a recent price of $71,047.

“The Bitcoin price temporarily fluctuated sharply as some accounts that received the Bitcoin sold it,” Bithumb said. “We want to make it clear that this incident is unrelated to any external hacking or security breach, and does not pose any issues with system security or customer asset management,” the company added.

Bithumb further insisted that the chain of events did not result in any customer’s loss of preexisting assets.

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Solana recorded over $300 million in long position liquidations, with the largest reaching around $6.69 million near $73, reflecting concentrated pressure in the derivatives market. During the session, traders reduced risk amid the SOL price drop, generating high daily trading volume.

Solana trades at $86.9 per token, after a 3.7% recovery in the past hours, with volume up 44% to $13.7 billion, according to CoinMarketCap. The circulating supply remains near 570 million tokens, and the market capitalization is around $47.5 billion.

Key resistance sits near $89.61. If Solana fails to surpass that level, downside targets remain at $70 and $62. On the weekly timeframe, the decline confirmed a Head-and-Shoulders pattern with a neckline at $120–$125, establishing immediate support at $100 and $80. A decisive break below $80 would open the $60–$65 zone.

The market continues to be affected by massive liquidations and active trader participation.

Source: https://x.com/SolanaFloor/status/2019735479869169923

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This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions

Solana’s price has rebounded from key support, but weak volume and heavy overhead resistance raise the risk that the current rally is only a temporary dead cat bounce.

Summary

$70 high-timeframe support triggered the bounce, but structure remains bearish Price is entering major resistance near $87, with VWAP and Fibonacci confluence Low volume weakens the rally, raising rejection and downside rotation risk Solana (SOL) price action has staged a short-term recovery after respecting a major high-timeframe support zone near $70. While the bounce has provided brief relief following sustained selling pressure, the broader technical picture suggests caution is warranted.

The recent advance has occurred on below-average volume and is now approaching a dense cluster of resistance, increasing the probability that this move may be corrective rather than the start of a sustained trend reversal.

As Solana trades higher into key technical barriers, market participants are closely watching whether buyers can generate enough momentum to shift structure, or whether sellers will reassert control and rotate price back toward recent lows.

Solana price key technical points $70 high-timeframe support has held, triggering a short-term bounce Current price is entering major resistance confluence, including VWAP and Fibonacci Low volume undermines the rally, increasing dead cat bounce risk SOLUSDT (1H) Chart, Source: TradingView From a higher-timeframe perspective, the $70 level has proven to be a significant area of demand for Solana. This zone has acted as a structural support level, and the recent defense of this region allowed price to stabilize and push higher on the intraday timeframe. Following the bounce, Solana reclaimed its local point of control, signaling short-term acceptance and encouraging a brief bullish reaction.

However, while the bounce itself is technically valid, it must be viewed within the context of the broader trend. Solana remains in a bearish market structure, and isolated rallies from support do not automatically imply a trend reversal, particularly when other confirming signals are absent.

Resistance confluence caps the upside As the price moved higher, Solana is now trading into a well-defined resistance zone around the $87 region. This area represents a significant confluence of technical factors, including the value area high, VWAP-based resistance, and the 0.618 Fibonacci retracement of the prior decline. Together, these levels form a supply zone where sellers are likely to become active.

Historically, when price rallies into such confluence zones without strong volume confirmation, the probability of rejection increases. This is especially true in bearish market environments, where rallies often serve as opportunities for distribution rather than accumulation.

Weak volume signals fragile rally One of the most important concerns surrounding the current Solana rally is the lack of bullish volume. Despite the price moving higher, participation has remained below average, suggesting that large buyers have not meaningfully stepped in. In healthy trend reversals, a rising price is typically accompanied by expanding volume, reflecting growing demand and conviction.

In this case, the lack of strong volume suggests the move higher may be driven by short-covering or opportunistic buying rather than sustained accumulation. This dynamic aligns closely with the characteristics of a dead cat bounce — a temporary recovery within a broader downtrend that ultimately fails.

Bearish structure remains intact below resistance As long as Solana remains below the current resistance cluster, the broader bearish market structure remains unchanged. Failure to reclaim and hold above this zone would keep downside rotation as the higher-probability scenario. A rejection from resistance would likely send the price back toward the $70 support, setting up a potential retest of that level.

Repeated tests of support often weaken demand, increasing the risk of a breakdown if buyers fail to defend the zone convincingly. As a result, how price reacts to any return to $70 will be critical in determining whether Solana can stabilize or if further downside is likely.

What to expect in the coming price action From a technical, price action, and market structure perspective, Solana’s current rally appears vulnerable. The combination of low volume and heavy resistance overhead suggests that downside risk remains elevated. A rejection near current levels would favor a rotation back toward $70, keeping the bearish structure intact.

For the outlook to improve meaningfully, Solana would need to break above resistance with strong volume confirmation and sustain acceptance at higher value. Until that occurs, traders should treat the current move cautiously and remain focused on price behavior as Solana navigates this critical resistance zone.

Key Takeaways Rigetti secured an $8.4M order from C-DAC to deliver a 108-qubit quantum system to a Bengaluru data center.The deal follows a 2025 MoU, showing Rigetti can convert research deals into revenue-generating system sales.While not financially transformative, RGTI's order supports a go-to-market model in government markets. Rigetti Computing’s (RGTI - Free Report) $8.4 million purchase orderto deliver a 108-qubit quantum computer from C-DAC marks a meaningful validation of its system-led scaling strategy, shifting the narrative beyond experimental cloud access toward tangible, on-premises deployments. Unlike usage-based quantum cloud revenues that remain early and volatile, this deal reflects a government-backed commitment to own and integrate quantum hardware into the national supercomputing infrastructure.

The 108-qubit system will be installed directly within C-DAC’s Bengaluru data center and is scheduled to be deployed in the second half of 2026. This matters because it shifts Rigetti’s image from a speculative research vendor to an infrastructure supplier serving national computing priorities. Government buyers typically move slower, but once they commit, contracts tend to be longer-term, more stable, and less sensitive to pricing.

More strategically, the order underscores growing confidence in Rigetti’s chiplet-based architecture, which management sees as the foundation for scaling toward error-corrected, fault-tolerant systems. By winning a follow-on order after its 2025 MoU with C-DAC, Rigetti demonstrates it can convert research partnerships into revenue-generating system sales, a key hurdle for pure-play quantum hardware companies.

While $8.4 million alone is not likely to materially change Rigetti’s financial profile, it strengthens proof-of-concept for a repeatable go-to-market motion in government and defense-adjacent markets.

Peers UpdatesD-Wave Quantum (QBTS - Free Report) recently announced a key technical milestone with the successful demonstration of scalable on-chip cryogenic control for gate-model quantum computers. This industry-first achievement addresses one of the biggest barriers to large-scale quantum systems. By dramatically reducing the amount of wiring needed to control qubits, without sacrificing fidelity, the breakthrough improves the practicality and scalability of gate-model architectures. Notably, D-Wave validated that the same cryogenic control technology already used in its commercial annealing systems can be applied to gate-model QPUs, reinforcing the company’s ability to leverage existing engineering strengths across platforms.

IonQ (IONQ - Free Report) has expanded its partnership with the Korea Institute of Science and Technology Information, unveiling plans to deploy a next-generation 100-qubit IonQ Tempo quantum system to support South Korea’s National Quantum Computing Center of Excellence. The system will be integrated into KISTI’s KISTI-6 supercomputing platform, creating the nation’s first on-premises hybrid quantum–classical computing setup and deepening quantum integration within its national HPC infrastructure.

From an investor perspective, the collaboration underscores IonQ’s growing traction with government-backed research institutions and its ability to embed quantum hardware into large-scale supercomputing environments. This enhances near-term real-world applications while strengthening IonQ’s positioning as a durable infrastructure partner as countries increasingly invest in sovereign quantum computing capabilities.

Rigetti’s Price Performance, Valuation and EstimatesShares of RGTI have lost 6.3% in the last six-month period compared with the industry’s decline of 20.4%.

Image Source: Zacks Investment Research

From a valuation standpoint, Rigetti trades at a price-to-book ratio of 13.29, above the industry average. RGTI carries a Value Score of F.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Rigetti’s 2026 earnings implies a significant 75.9% improvement from the year-ago period.

Image Source: Zacks Investment Research

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

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

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

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

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

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

POLAND - 2024/11/13: In this photo illustration, the UnitedHealth company logo is seen displayed on a smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

UnitedHealth has shown substantial rally potential, with several occurrences of gains exceeding 30% in less than two months noted in key years 2010, 2019, 2020, 2021, and 2025, notwithstanding the recent 23% drop in the last month. It is particularly noteworthy that the company experienced rallies of more than 50% on two occasions in 2020 and 2025. Should historical trends continue, forthcoming catalysts may elevate UnitedHealth stock to remarkable new heights, providing considerable profits for investors.

In particular, we identify the following catalysts:

Optum Insight Margin InflectionUnitedHealthcare Margin RecoveryAccelerating AI-Driven Cost SavingsCatalyst 1: Optum Insight Margin Inflection

Details: Incremental margins expected to rise by about 90 basis points, Earnings growth projected to exceed 4%Segment Affected: Optum InsightPotential Timeline: Through 2026Evidence: Synergy between Optum Insight and Optum Financial Services, New sales and commercialization of innovative productsCatalyst 2: UnitedHealthcare Margin Recovery

Details: Growth in operating earnings margins by 40 basis points, Approximately 13% growth in adjusted operating earningsSegment Affected: UnitedHealthcarePotential Timeline: Entire year of 2026Evidence: Intended focus on margin recovery via product repositioning and pricing adjustments, Expected operating cost reductions approaching $1 billion in 2026Catalyst 3: Accelerating AI-Driven Cost Savings

Details: Approximately $1 billion in operational cost savings projected for 2026, Enhancing operating cost ratio by 10 basis pointsSegment Affected: ConsolidatedPotential Timeline: Mid-2026Evidence: Advancements in AI and machine learning capabilities across various business sectors, More than 80% of member calls utilizing AI toolsBut The Stock Is Not Without Its Risks

We have identified specific risks:

Collapse of Medicare Advantage ProfitabilityDecelerating Growth and Margin Erosion at OptumSystemic Antitrust Challenges to the Vertical Integration ModelEvaluating historical drawdowns during market downturns offers another perspective on risk.

UNH experienced a 42% decline in the Dot-Com bubble, 72% during the Global Financial Crisis, and 36% during the Covid downturn. Even smaller events like those in 2018 and inflation reduced it by 18-24%.

MORE FOR YOU

Read UNH Dip Buyer Analyses to understand how the stock has bounced back from significant declines in the past.

Reference: Current Fundamentals

Revenue Growth: 10.5% Last Twelve Months (LTM) and 11.4% average over the last three years.Cash Generation: About 4.0% free cash flow margin and 6.1% operating margin LTM.Valuation: UnitedHealth stock is currently trading at a P/E ratio of 13.8UNH

Trefis

*LTM: Last Twelve Months | For more information, read Buy or Sell UNH Stock.

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Key Takeaways WEC Energy Group posted Q4 EPS of $1.42, beating estimates as operating revenues rose 11% year over year.Operating expenses jumped 23% in Q4, pressuring operating income, which fell 23.4% from last year.WEC plans $12.6B investment to add 6,500 MW renewable capacity in its $37.5B 2026-2030 strategy. WEC Energy Group (WEC - Free Report) reported fourth-quarter 2025 earnings of $1.42 per share, which beat the Zacks Consensus Estimate of $1.38 per share by 2.9%. The bottom line was missed by a penny, which has decreased 0.7% from the year-ago quarter’s $1.43 per share.

GAAP earnings per share in the fourth quarter of 2025 were 97 cents compared with $1.43 in the year-ago quarter.

WEC reported 2025 adjusted earnings of $5.27 per share compared with $4.88 per share in 2024, reflecting a year-over-year increase of 8.0%.

WEC’s RevenuesOperating revenues of $2.54 billion surpassed the Zacks Consensus Estimate of $2.45 billion by around 3.7%. The top line also increased 11% from $2.28 billion recorded in the year-ago quarter.

WEC reported total revenues of $9.80 billion in 2025 compared with $ 8.60 billion in 2024, reflecting a year-over-year increase of 14%.

WEC Energy Group, Inc. Price, Consensus and EPS SurpriseHighlights of WEC’s Earnings ReleaseRetail deliveries of electricity, excluding the iron ore mine in Michigan’s Upper Peninsula and in Wisconsin, increased 2.2% and 1.1%, respectively, year over year.

Electricity consumption by small commercial and industrial customers and by large commercial and industrial customers, excluding the iron ore mine, increased 1.6%, while residential electricity consumption increased 3.5% in 2025.

Total operating expenses were $2.08 billion, up 23% from the year-ago level of $1.69 billion. This was due to the higher cost of sales and an increase in other operating and maintenance expenses.

Operating income totaled $ 452.9 million, down 23.4% from $ 590.9 million recorded in the year-ago quarter.

The company incurred an interest expense of $ 227.7 million, up 7.46% from the prior-year level of $ 211.9 million.

WEC’s Financial PositionAs of Dec. 31, 2025, WEC had cash and cash equivalents of $27.6 million compared with $9.8 million as of year-end  2024.

As of Dec. 31, 2025, the company had a long-term debt of $18.50 billion compared with $17.18 billion as of 2024.

Net cash provided by operating activities during 2025 was $3.38 billion compared with $3.21 billion in the year-ago period.

Capital expenditure for the year totaled $4.40 billion compared with $2.78 billion in 2024.

WEC’s Guidance for 2026WEC reaffirmed its 2026 earnings projection in the range of $ 5.51-$5.61 per share.

During 2026, the company projects under the weather-normal retail electric sales in Wisconsin to grow 1.6% and the large commercial and industrial segment to grow 5.8% from 2025.

The company plans to invest a total of $7.4 billion in modern, efficient natural gas generation and LNG storage and $12.6 billion to add 6,500 MW in renewable energy over the 2026-2030 period.

WEC Energy expects to invest $37.5 billion in the 2026-2030 period, which supports 7-8% long-term EPS growth.

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

Upcoming ReleasesAmeren (AEE - Free Report) is scheduled to report fourth-quarter results on Feb. 12. The Zacks Consensus Estimate for earnings is pegged at 77cents per share, which suggests no change in year over year.

The Zacks Consensus Estimate for fourth-quarter sales is pinned at $2.09 billion, which suggests year-over-year growth of 7.90%.

American Electric Power (AEP - Free Report) is scheduled to report fourth-quarter results on Feb. 12. The Zacks Consensus Estimate for earnings is pegged at $1.15 per share, which suggests decrease 7.26% in year-over-year earnings.

The Zacks Consensus Estimate for fourth-quarter sales is pinned at $5.23 billion, which suggests year-over-year growth of 11.43%.

Edison International (EIX - Free Report) is scheduled to report fourth-quarter results on Feb. 18. The Zacks Consensus Estimate for earnings is pegged at $1.47 per share, which suggests increase 40% in year over year.

The Zacks Consensus Estimate for fourth-quarter sales is pinned at $4.38 billion, which suggests year-over-year growth of 9.94%.

Valmet Oyj (VLMTY) Q4 2025 Earnings Call February 6, 2026 3:00 AM EST

Company Participants

Pekka Rouhiainen - Vice President of Investor Relations
Thomas Hinnerskov - CEO & President
Katri Hokkanen - Chief Financial Officer

Conference Call Participants

Panu Laitinmaki - Danske Bank A/S, Research Division
Mikael Doepel - Nordea Markets, Research Division
Tomas Skogman - DNB Carnegie, Research Division
Sven Weier - UBS Investment Bank, Research Division
Timo Heinonen

Presentation

Pekka Rouhiainen
Vice President of Investor Relations

Good morning, everyone, and welcome to Valmet's Fourth Quarter Results Webcast. My name is Pekka Rouhiainen. I'm the Vice President of Investor Relations at Valmet. And with me today are Valmet's President and CEO, Thomas Hinnerskov; and our CFO, Katri Hokkanen.

Today, we will walk you through Valmet's fourth quarter and also highlighting some of the full year highlights, the most notable one being the full year margin, increasing to a new record of 11.9% as our strategy, delivered its first results during the second half.

The agenda for today is straightforward. First, Thomas will present the Q4 and full year highlights, including the acquisition of Severn. Next, Katri will walk us through the financial development in detail, and then Thomas will return to discuss the dividend proposal, the guidance for 2026 and the short-term market outlook for the next 6 months. And after the presentations, we'll open the lines for your questions. So thank you for joining us today and your interest in Valmet.

And with that, let's get started, Thomas.

Thomas Hinnerskov
CEO & President

Thank you, Pekka. 2025 was my full first year as CEO at Valmet, and it's been a true transformative year. We've been driving many changes and initiatives, and I'll get back to some of those later in the presentation. Therefore, firstly, I want to be thanking the Valmet team for all the hard work and commitment throughout the

Euronext announces volumes for January 2026

Amsterdam, Athens, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 6 February 2026 – Euronext, the leading European capital market infrastructure, today announced trading volumes for January 2026.

Monthly and historical volume tables are available at this address:

euronext.com/investor-relations#monthly-volumes

CONTACTS  

ANALYSTS & INVESTORS – [email protected]

Investor Relations        Judith Stein        +33 6 15 23 91 97

        Margaux Kurver        +33 6 84 16 85 03        

MEDIA – [email protected] 

Europe        Andrea Monzani         +39 02 72 42 62 13 

        Sandra Machado        +351 917 776 897

Belgium        Marianne Aalders         +32 26 20 15 01                 

France, Corporate        Flavio Bornancin-Tomasella        +33 1 70 48 24 45                 

Greece        Ioulia Zafolia         +30 694 570 1070

Ireland        Catalina Augspach        +33 6 82 09 99 70                        

Italy         Ester Russom         +39 02 72 42 67 56                 

The Netherlands        Marianne Aalders         +31 20 721 41 33                 

Norway         Cathrine Lorvik Segerlund        +47 41 69 59 10                 

Portugal         Sandra Machado        +351 917 776 897         

About Euronext  

Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway and Portugal.

As of December 2025, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal host over 1,700 listed issuers with €6.7 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.

In November 2025, Euronext successfully acquired a majority stake in the Athens Stock Exchange (ATHEX), further expanding its footprint and strengthening its pan-European market infrastructure.

For the latest news and resources, please visit the Media Centre. Follow us on X and LinkedIn for regular updates.

Disclaimer

This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.

© 2026, Euronext N.V. - All rights reserved. 

The Euronext Group processes your personal data in order to provide you with information about Euronext (the "Purpose"). With regard to the processing of this personal data, Euronext will comply with its obligations under Regulation (EU) 2016/679 of the European Parliament and Council of 27 April 2016 (General Data Protection Regulation, “GDPR”), and any applicable national laws, rules and regulations implementing the GDPR, as provided in its privacy statement available at: www.euronext.com/privacy-policy. In accordance with the applicable legislation you have rights with regard to the processing of your personal data: for more information on your rights, please refer to: www.euronext.com/data_subjects_rights_request_information. To make a request regarding the processing of your data or to unsubscribe from this press release service, please use our data subject request form at connect2.euronext.com/form/data-subjects-rights-request or email our Data Protection Officer at [email protected].

Euronext PR Volumes - January 2026

Willdan Group, Inc. WLDN has become one of the stronger performers in the Business Services space, but its valuation is now drawing closer scrutiny. With WLDN trading at about 23.75X forward 12-month earnings, well above the Zacks Business – Services industry average of 15.53X, investors are increasingly asking whether the premium reflects durable fundamentals or whether expectations are running ahead of near-term visibility.

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

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

Amazon.com Inc (NASDAQ:AMZN) shares fell more than 7% to about $205 on Friday following the company’s fourth quarter earnings report, as investors digested the $200 billion capital expenditure plan and disappointing first quarter margin guidance.

While AWS and retail results impressed, analysts from Jefferies, Wedbush, and Bank of America warned that Amazon’s towering capital expenditures could keep investors on edge.

Jefferies highlighted the need for more tangible returns from Amazon’s spending. While AWS revenue grew 24% year over year and backlog increased roughly 40%, the analysts wrote that these gains “paled versus capex growth and peers, suggesting more work ahead to regain mindshare in AI and increase confidence in capex ROI.”

They noted that AWS’s sequential backlog growth of $44 billion was smaller than Microsoft’s $233 billion and Google’s $85 billion, despite Amazon having the highest revenue base.

Jefferies maintained its ‘Buy’ rating, citing “depressed valuation, stock underperformance, and early stage of AWS acceleration,” but added that investors will want to see continued progress in AWS and AI metrics as well as more concrete evidence of capex returns.

Wedbush analysts pointed to Amazon’s continued strength in AWS and retail segments. The analysts wrote that Amazon reported “the strongest year-over-year growth within AWS over the last 13 quarters (+23.6%), ahead of estimates by ~250bps, reflecting increased capacity and encouraging demand across AI and core services.”

They noted that AWS has doubled its capacity since 2022 and is on pace to double again by 2027.

While acknowledging that Amazon’s guidance for first-quarter operating income was below initial expectations, the analysts added that “the significance of the planned level of spend is consistent with management’s longer-term positioning,” and cited multiple levers for sustainable margin improvement, including fulfillment optimization and a structural shift toward higher-margin AWS and advertising revenue.

Wedbush lowered its price target to $300 following the report but maintained an ‘Outperform’ rating.

Bank of America also focused on the implications of Amazon’s capital expenditure plans for future growth. The analysts noted that while fourth-quarter revenue and profit exceeded Street estimates, the first-quarter outlook and $200 billion capex guide “pressured stock, but we see capacity needed to maintain Cloud leadership.”

They highlighted that AWS revenue growth of 24% was above expectations and on a positive revenue revision cycle, but warned that investments will continue to weigh on margins in the near term.

The firm reiterated its ‘Buy’ rating with a $275 price objective, emphasizing that “while the capacity ramp will add margin volatility in future quarters, we think this capacity will be fully utilized as part of the AI business transformation across industries.”

Key Takeaways FTNT posted Q4 EPS of 81 cents, beating estimates by 9.46% and rising 9.5% year over year on solid execution.FTNT revenues grew 15% to $1.9B, driven by broad portfolio demand and strength in Unified SASE & Security Ops.FTNT billings jumped 18% Y/Y to $2.37B, led by Unified SASE growth and expanding large enterprise adoption. Fortinet (FTNT - Free Report) reported impressive fourth-quarter 2025 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year.

Fortinet reported fourth-quarter 2025 non-GAAP earnings per share (EPS) of 81 cents, which beat the Zacks Consensus Estimate by 9.46% and grew 9.5% year over year.

Total revenues of $1.9 billion beat the consensus mark by 2.54% and improved 15% year over year, driven by broad-based demand across the portfolio, strong execution in enterprise and robust traction in Unified SASE and Security Operations markets.

Total deferred revenues (current + long-term portions combined) came in at $7.12 billion, while the current portion was $3.63 billion as of Dec. 31, 2025.

Total billings increased 18% year over year to $2.37 billion, led by 40% growth in Unified SASE, expanding sales to large enterprises, and solid demand within operational technology (OT) and critical infrastructure markets.

FTNT's Q4 in DetailSegment-wise, Product revenues increased 20% year over year to $691.1 million, representing 36.3% of total revenues. The growth was driven by robust demand for multiproduct deals across a variety of use cases, strong momentum in OT security, and continued product refresh cycles.

Service revenues of $1.21 billion grew 12% year over year, accounting for 63.7% of total revenues. The company added 7,200 new organizations to its customer base in the quarter, demonstrating strong market penetration and expanding adoption of its Security Fabric platform. Management highlighted significant wins with large enterprises and expanding traction in AI-driven security solutions, with AI-related billings growing 6% in the fourth quarter and 22% for the full year.

Margins of FTNTTotal gross margin was 79.6%, contracting 160 basis points (bps) year over year but maintaining strong profitability through disciplined cost management and operational excellence. Product gross margin declined to 66.9%, while service gross margin held steady at 86.8%. Operating margin expanded 90 bps year over year to 33% in the fourth quarter on a GAAP basis. On a non-GAAP basis, the operating margin was 37.3%, reflecting strong operational leverage and efficient cost management despite increased investments in growth areas.

FTNT's Balance Sheet & Cash FlowFortinet exited the fourth quarter of 2025 with cash and cash equivalents and short-term investments of $3.58 billion, up from $3.12 billion reported at the end of the third quarter of 2025.

Cash flow from operations was $620.2 million for the fourth quarter of 2025, down from $655.2 million in the previous quarter. Free cash flow was $577.4 million for the fourth quarter of 2025, up from $567.5 million in the prior quarter. For 2025, free cash flow reached $2.21 billion.

FTNT's Q1 & 2026 GuidanceFortinet expects first-quarter revenues in the range of $1.7-$1.76 billion. Billings are estimated in the band of $1.77-$1.87 billion. The non-GAAP gross margin is expected to be in the range of 80-81%, while the non-GAAP operating margin is anticipated between 30% and 32%. Non-GAAP EPS is projected in the band of 59-63 cents.

For 2026, FTNT predicts revenues in the range of $7.50-$7.70 billion. Services revenues are projected in the range of $5.05-$5.15 billion. Billings are expected in the band of $8.4-$8.6 billion. The non-GAAP gross margin is expected in the range of 79-81%, and the operating margin is projected in the band of 33-36%. Non-GAAP EPS is anticipated to be between $2.94 and $3.

FTNT’s Zacks Rank and Stocks to ConsiderCurrently, Fortinet carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Computer and Technology sector include Amkor Technology (AMKR - Free Report) , Arista Networks (ANET - Free Report) and Advanced Energy (AEIS - Free Report) . While Amkor Technology sports a Zacks Rank #1 (Strong Buy), Arista Networks and Advanced Energy carry a Zacks Rank of 2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Amkor Technology shares have surged 97.6% in the trailing six-month period. Amkor Technology is set to report fourth-quarter 2025 results on Feb. 9.

Shares of Arista Networks have gained 6.1% in the trailing six-month period. Arista Networks is set to report fourth-quarter 2025 results on Feb. 12.

Shares of Advanced Energy have surged 82.1% in the trailing six-month period. Advanced Energy is slated to report fourth-quarter 2025 results on Feb. 10.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

#1 (Strong Buy) stocks have produced an unmatched +23.83% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Palantir Technologies Inc. (PLTR - Free Report) Denver-based Palantir Technologies was founded in 2003. The company builds and deploys software platforms for the intelligence community to help in counterterrorism investigations and operations across the United States and internationally.

PLTR is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. PLTR has a Growth Style Score of A, forecasting year-over-year earnings growth of 78.7% for the current fiscal year.

10 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.30 to $1.34 per share. PLTR boasts an average earnings surprise of +11.6%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, PLTR should be on investors' short list.

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.83% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Moelis (MC - Free Report) Headquartered in New York, Moelis & Company is a global investment bank that offers strategic and financial advisory services to corporations, governments and financial sponsors across diverse sectors. Its advisory expertise spans mergers and acquisitions (M&A), capital market activities, restructurings, recapitalizations, and a range of corporate finance transactions involving public and private debt and equity.

MC is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. MC has a Growth Style Score of B, forecasting year-over-year earnings growth of 14.7% for the current fiscal year.

Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.10 to $3.43 per share. MC boasts an average earnings surprise of +36.5%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, MC should be on investors' short list.