Market Signal Briefing

Cracker Barrel Old Country Store (NASDAQ:CBRL) shareholders have shown strong support for CEO Julie Felss Masino after a controversial logo redesign earlier this year sparked public outcry and calls for leadership changes.

Preliminary results from the company’s annual meeting held on Thursday indicated that investors elected nine of 10 board nominees, including Masino.

Independent director Gilbert Dávila, who had overseen marketing and diversity initiatives on the board, resigned, reducing the board’s size to nine. 

Shareholders also approved all other proposals, including amendments to the company’s bylaws, executive compensation plans, and the Omnibus Incentive Plan.

“We thank our shareholders for their strong show of support today, electing nine of ten of the company's recommended director nominees, including the CEO, Julie Masino, and voting for every other proposal we put forth,” the company said in a statement.

“We are more focused than ever on delivering high-quality food and experiences to our guests while staying true to the heritage that makes Cracker Barrel so special, ensuring we are here to welcome families around our table for generations to come.”

Masino, who became CEO in 2023, led a rebranding effort earlier this year that simplified the chain’s logo, removing its longtime mascot and the phrase “Old Country Store.”

The redesign, intended to modernize the brand, drew criticism for straying from Cracker Barrel’s rustic, Americana identity. In response to customer backlash, the company reverted to its original logo and paused its remodeling initiatives.

Shares of Cracker Barrel trade down 3.9% at $26 in the early afternoon on Thursday, down 50% in the year to date.

CNH announces pricing of its offering of €500,000,000 3.625% notes due January 2033

Basildon, November 20, 2025

CNH Industrial N.V. (NYSE: CNH) (“CNH”) today announces the successful pricing of its offering of €500,000,000 in principal amount of 3.625% notes due January 26, 2033 (the “Notes”) with an issue price of 98.984% of the principal amount.

The closing of the offering is currently expected on November 26, 2025. The notes will be issued by CNH under its Euro Medium Term Note Programme. CNH intends to use the net proceeds from the offering for its general corporate purposes including repayment of existing debt. Application will be made for the Notes to be admitted to trading on the Global Exchange Market of Euronext Dublin.

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS

MiFID II and UK MiFIR professionals/ECPs-only / No PRIIPs KID – Manufacturer target market (MIFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or UK.

The notes will be offered and sold only outside the United States to institutional investors that are not “U.S. persons” (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")) and have not been and will not be registered under the Securities Act or any other securities laws. The notes may not be offered or sold in the United States or to or for the account or benefit of “U.S. persons” absent registration under the Securities Act or an applicable exemption from the registration requirements thereof.

This press release shall not constitute an offer to sell or an offer of financial products or securities, nor shall there be any sale of these notes, in the United States or any state or jurisdiction in which such an offer or sale would be unlawful. No action has been or will be taken to permit a public offering of the notes in any jurisdiction.

The offering of the Notes has not been registered with the Commissione Nazionale per le Societá e la Borsa (CONSOB), pursuant to Italian securities legislation and, accordingly, no Notes may be offered, sold or delivered, nor may copies of the Base Listing Particulars or of any other document relating to the Notes be distributed in the Republic of Italy, except: (i) to qualified investors (investitori qualificati), as defined pursuant to Article 2 of Regulation (EU) 2017/1129 (as amended, the “Prospectus Regulation”) and any applicable provision of Italian laws and regulations; or (ii) in any other circumstances which are exempted from the rules on public offerings pursuant to Article 1 of the Prospectus Regulation, Article 34-ter of Regulation No. 11971 of 14 May 1999, as amended from time to time, and the applicable Italian laws.

This press release is directed only (i) to persons who are outside the United Kingdom, (ii) to persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”) or (iii) to high net worth entities falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Financial Promotion Order (all such persons together being referred to as "Relevant Persons"). This press release must not be acted on or relied on by persons who are not Relevant Persons. Any investment activity to which this press release relates is reserved for Relevant Persons only and may only be engaged in by Relevant Persons.

In the Netherlands, this press release is directed only to qualified investors within the meaning of the Dutch Financial Supervision Act (Wet op het financieel toezicht).

This press release is an advertisement and is not a prospectus. The base listing particulars dated 12 May 2025 as supplemented on 5 August 2025 and 18 November 2025 (together, the “Base Listing Particulars”) are, and the final Pricing Supplement, when published, will be, available for viewing at https://www.cnh.com/en-US. Potential investors must note that the Base Listing Particulars, as supplemented by the Pricing Supplement, does not constitute a prospectus for the purposes of the Prospectus Regulation or for the purposes of Regulation (EU) 2017/1129 as it forms part of domestic law in the UK by virtue of the European Union (Withdrawal) Act 2018 (as amended, the “UK Prospectus Regulation”). The Base Listing Particulars, as supplemented by the Pricing Supplement, has been prepared on the basis that the offer of Notes in any member state of the EEA will be made pursuant to an exemption under the Prospectus Regulation and, in the case of the UK, pursuant to an exemption under the UK Prospectus Regulation.

CNH Industrial (NYSE: CNH) is a world-class equipment, technology and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland supply 360° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment deliver a full lineup of construction products that make the industry more productive. The Company’s regionally focused Brands include: STEYR, for agricultural tractors; Raven, a leader in digital agriculture, precision technology and the development of autonomous systems; Hemisphere, a leading designer and manufacturer of high-precision satellite-based positioning, and heading technologies; Flexi-Coil, specializing in tillage and seeding systems; Miller, manufacturing application equipment; and Eurocomach, producing a wide range of mini and midi excavators for the construction sector, including electric solutions.

Across a history spanning over two centuries, CNH has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH’s 35,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.

For more information and the latest financial and sustainability reports visit: cnh.com

For news from CNH and its Brands visit: media.cnh.com

Contacts:

Media Relations
Email: [email protected]

Investor Relations
Email: [email protected]

20251120_PR_CNH_European_Bond

Debuting at the 2025 Los Angeles International Auto Show, November 21–30

, /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced the launch of the Lucid Gravity Touring, the newest addition to its groundbreaking Lucid Gravity SUV lineup. Starting at $79,900,1 Lucid Gravity Touring now offers Lucid's signature blend of space, performance, and efficiency to a broader audience.

Customer orders are now open, with select configurations available for immediate delivery at lucidmotors.com/available-vehicles.

Lucid Gravity Touring: The Luxury Electric SUV Designed Without Compromise, Now Starting at $79,900

Lucid Gravity Touring: The Luxury Electric SUV Designed Without Compromise, Now Starting at $79,900

"The Lucid Gravity Touring unlocks a new audience for the Lucid brand in the broad and critical SUV segment," said Marc Winterhoff, Interim CEO at Lucid. "There's not another SUV in its segment that can deliver the combination of range, interior space, and driving performance found in the Lucid Gravity Touring."

Expanding the Gravity Model Lineup
Lucid Gravity redefines the SUV category with a clean-sheet design enabled by Lucid's proprietary EV technology. Lucid Gravity Touring offers the practicality of a full-size SUV within the footprint of a mid-size, seating up to seven adults and delivering game-changing versatility.

Built on the same platform as the Lucid Gravity Grand Touring, Lucid Gravity Touring features Lucid's high-efficiency battery and powertrain architecture, advanced vehicle dynamics, and native NACS compatibility for ultra-fast charging. With an 89kWh battery pack, Lucid Gravity Touring achieves an EPA-estimated range of up to 337 miles.2

Charging is seamless with access to more than 25,000 Tesla Superchargers, thousands of Electrify America DC fast-charging connectors, and a multitude of additional DC fast-charging stations across North America. Lucid Gravity Touring can charge at speeds up to 300 kW at 1000V DC fast chargers to add 200 miles in 15 minutes. When connected to a Tesla Supercharger, Lucid Gravity Touring can charge at up to 220 kW thanks to Lucid's proprietary rear motor drive unit boost charging capability, which boosts the 500V station voltage to match the high voltage of the Lucid battery pack.

Performance Meets Lifestyle Capability

The dual-motor, all-wheel-drive Lucid Gravity Touring delivers up to 560 horsepower and accelerates from 0 to 60 mph in just 4.0 seconds. Standard air suspension and an optional Dynamic Handling Package delivers refined ride quality and agile handling.

Interior configurations include five- and seven-seat layouts with up to 120 cubic feet of adaptable cargo space in the five-seat configuration. Customers can choose from six exterior colors and wheel designs ranging from 20 to 23 inches. The standard Stealth Appearance features dark polished finishes, while the optional Platinum Appearance adds bright silver accents.

The Lucid Experience
The Lucid Gravity Touring inherits the bold design and human-centric technology of the Grand Touring, including:

Clearview Cockpit: A 34-inch curved 6K OLED display, for driver visibility.
Lucid UX 3.0 + Over-the-Air Updates: A software-defined experience that evolves over time.
DreamDrive 2 Pro (Optional): Lucid's most advanced driver-assistance system with 32 onboard sensors.
The Lucid Gravity Touring can be configured at lucidmotors.com/configure/gravity.

Los Angeles International Auto Show
Lucid Gravity Touring will make its public debut at the 2025 Los Angeles International Auto Show, November 21–30. Attendees can experience the Lucid Gravity Touring, Lucid Gravity Grand Touring, and Lucid Air Sapphire at Lucid's South Hall activation. Demo drives will be available on a first-come, first-served basis.

Learn more at https://lucidmotors.com/events.

About Lucid Group 
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and Lucid Gravity SUV deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factories in Arizona and Saudi Arabia. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.

Investor Relations Contact
[email protected]

Media Contact 
[email protected]

Trademarks
This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.

Forward-Looking Statements 

This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding plans and expectations with respect to Lucid Gravity Touring, including its order timing and starting price, features, capabilities, equipment, options, configurations, range, charging performance and compatibility, access to the Tesla Supercharger network and Electrify America stations, plans and expectations with respect to the timing of Lucid Gravity Touring's public debut and experiences at the 2025 Los Angeles International Auto Show, as well as the promise of Lucid's technology. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the cautionary language and the Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2024, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

1 For U.S. customers only. Excludes tax, title, license, options, destination and documentation fees.

2 When equipped with 20"F/21"R wheels and configured as a 2-row, 5-seat vehicle. Range and battery power vary with temperature, driving habits, charging and battery condition and actual results will vary.

SOURCE Lucid Motors

Key Takeaways Copa Holdings posted Q3 EPS of $4.20, beating estimates and improving 20% year over year.Q3 revenues rose 6.8% to $913.1M as passenger revenues (which contributed 94.3% to the top line) grew 5.2%.For 2025, CPA expects capacity to grow 8% year over year and operating margin to be in the range of 22-23%.
Copa Holdings, S.A. (CPA - Free Report) reported third-quarter 2025 earnings per share of $4.20, which surpassed the Zacks Consensus Estimate of $4.03 and improved 20% year over year. Revenues of $913.1 million missed the Zacks Consensus Estimate of $915 million and inched up 6.8% year over year.

Passenger revenues (which contributed 94.3% to the top line) grew 5.2% year over year to $861.33 million. The upside was owing to an 8% year-over-year increase in revenue passenger miles (RPMs), partially offset by a 2.6% decrease in yield.

Cargo and mail revenues of $29.68 million grew 21.4% year over year, owing to higher cargo volumes. Other operating revenues of $22.13 million improved 86.3% year over year, owing to increased ConnectMiles revenues from the renewal of a co-branded credit card agreement.

CPA’s Other Financial DetailsOn a consolidated basis, Copa Holdings’ traffic (measured in revenue passenger miles) grew 8% and capacity (measured in available seat miles) increased 5.8% from the year-ago quarter. Since traffic growth outpaced capacity expansion, the load factor (percentage of seats filled by passengers) increased 1.8 percentage points to 88% in the reported quarter.

Passenger revenue per available seat mile dipped 0.5% year over year to 10.5 cents. Revenue per available seat mile (RASM) grew 1% year over year to 11.1 cents. Cost per available seat mile dipped 2.7% year over year. Excluding fuel, the metric fell 0.8% year over year. The average fuel price per gallon decreased 6.1% year over year to $2.44.

Total operating expenses increased 2.9% year over year to $700.84 million, owing to capacity growth, partially offset by lower fuel and maintenance costs.

Expenses on wages, salaries, benefits and other employee expenses rose 5.4% year over year. Sales and distribution costs increased 6.6% year over year. Passenger servicing costs grew 4.8% from the year-ago quarter. Airport facilities and handling charges grew 8.8% year over year. Other operating and administrative expenses increased 3.5% from the third quarter of 2024.

Copa Holdings exited the third quarter with cash and cash equivalents of $248.82 million compared with $236.17 million at the prior-quarter end.

During the third quarter of 2025, CPA took delivery of five Boeing 737 MAX 8 aircraft and added a second Boeing 737-800 freighter under an operating lease agreement. 

CPA’s OutlookCPA’s management expects consolidated capacity to grow 8% (prior view: up 7-8%) year over year, and the operating margin is expected to be in the range of 22-23% (prior view: 21-23%). The fuel cost is expected to be $2.47 per gallon (prior view: $2.45).

RASM is still expected to be 11.2 cents. The load factor for the current year is expected to be 87%. Non-fuel unit costs are anticipated to be 5.8 cents.

Preliminarily, for 2026, CPA currently anticipates its capacity to grow by almost 11-13% on a year-over-year basis, with unit costs excluding fuel (Ex-Fuel CASM) expected to be in the range of 5.7 to 5.8 cents.

Copa Holdings expects to end 2025 with 124 aircraft (prior view: 125 aircraft) and 2026 with 132 aircraft (prior view: 131 aircraft).

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

Q3 Performances of Other Transportation CompaniesDelta Air Lines (DAL - Free Report) reported third-quarter 2025 earnings (excluding 46 cents from non-recurring items) of $1.71 per share, which beat the Zacks Consensus Estimate of $1.52. Earnings increased 14% on a year-over-year basis due to low fuel costs.

Revenues in the September-end quarter were $16.67 billion, beating the Zacks Consensus Estimate of $15.79 billion and increasing 6.4% on a year-over-year basis. Due to improving air-travel demand, adjusted operating revenues (excluding third-party refinery sales) increased 4.1% year over year to $15.2 billion. 

J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported third-quarter 2025 earnings of $1.76 per share, which surpassed the Zacks Consensus Estimate of $1.47 and improved 18.1% year over year.

Total operating revenues of $3.05 billion surpassed the Zacks Consensus Estimate of $3.02 billion and were down 0.5% year over year. JBHT’s third-quarter revenue performance was hurt by a 1% and 4% decline in gross revenue per load in Intermodal (JBI) and Truckload (JBT), respectively, a decrease in load volume of 8% and 1% in Integrated Capacity Solutions (ICS) and Dedicated Contract Services (DCS), and 8% fewer stops in Final Mile Services (FMS). These items were partially offset by a 3 % improvement in DCS productivity, a 9% increase in revenue per load in ICS and 14% load growth in JBT. Total operating revenue, excluding fuel surcharge revenue, fell less than 1% year over year.

United Airlines Holdings, Inc. (UAL - Free Report) reported mixed third-quarter 2025 results wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.

UAL's third-quarter 2025 adjusted earnings per share (EPS) (excluding 12 cents from non-recurring items) of $2.78 surpassed the Zacks Consensus Estimate of $2.64 but declined 16.5% on a year-over-year basis. The reported figure lies above the guided range of $2.25 and $2.75.

Operating revenues of $15.2 billion fell short of the Zacks Consensus Estimate of $15.3 billion but increased 2.6% year over year. Passenger revenues (which accounted for 90.7% of the top line) increased 1.9% year over year to $13.8 billion. UAL flights transported 48,382 passengers in the third quarter, up 6.2% year over year.

Warner Music Group Corp. (WMG) Q4 2025 Earnings Call November 20, 2025 8:30 AM EST

Company Participants

Kareem Chin - Senior VP & Head of Investor Relations
Robert Kyncl - President, CEO & Director
Armin Zerza - Executive VP & CFO

Conference Call Participants

Kutgun Maral - Evercore ISI Institutional Equities, Research Division
Benjamin Black - Deutsche Bank AG, Research Division
Peter Supino - Wolfe Research, LLC
Michael Morris - Guggenheim Securities, LLC, Research Division
Douglas Creutz - TD Cowen, Research Division
Cameron Mansson-Perrone - Morgan Stanley, Research Division
Ian Moore - Sanford C. Bernstein & Co., LLC., Research Division
Kannan Venkateshwar - Barclays Bank PLC, Research Division

Presentation

Operator

Welcome to Warner Music Group's Fourth Quarter Earnings Call for the Period and Fiscal Year Ended September 30, 2025. At the request of Warner Music Group, today's call is being recorded for replay purposes. And if you object, you may disconnect at any time.

Now I would like to turn today's call over to your host, Mr. Kareem Chin, Head of Investor Relations. You may begin.

Kareem Chin
Senior VP & Head of Investor Relations

Good morning, everyone, and welcome to Warner Music Group's Fiscal Fourth Quarter and Full Year Earnings Conference Call. Please note that our earnings press release, earnings snapshot and Form 10-K are available on our website.

On today's call, we have our CEO, Robert Kyncl; and our CFO, Armin Zerza, who will take you through our results, and then we'll answer your questions.

Before our prepared remarks, I would like to refer you to the second slide of the earnings snapshot to remind you that this communication includes forward-looking statements that reflect the current views of Warner Music Group about future events and financial performance. We plan to present certain non-GAAP results during this conference call and in our earnings snapshot slides and have provided

Recommended For You

Key Takeaways OVV delivers a 7.9% gain over the past month, outpacing both its sector and sub-industry performance.Ovintiv exceeds production guidance and expands its inventory through major acquisitions.OVV faces weaker realized prices, elevated leverage and paused buybacks, pressuring outlook.
Ovintiv Inc. (OVV - Free Report) , formerly known as Encana, is a leading independent energy producer that is focused on developing its multi-basin portfolio of high-quality assets with operations across the United States and Canada. The company relocated its headquarters from Calgary to Denver and expanded its footprint through the $6 billion acquisition of Newfield Exploration in 2019. Once primarily a natural gas producer, Ovintiv has strategically shifted its portfolio toward higher-margin crude oil, solidifying its position among the top North American E&P players. The company is committed to delivering quality returns on the capital it invests in its multi-basin portfolio, anchored by its positions in the two largest remaining undeveloped oil basins in North America, the Permian in Texas and the Montney in Western Canada.

As economic signals fluctuate and industry trends evolve, choosing the right stock can meaningfully influence an investor’s overall returns. Ovintiv’s shifting portfolio strategy, ongoing efforts to rebalance its commodity exposure and a series of notable operational tailwinds add layers of complexity to its outlook. The evolving dynamics make it increasingly important for investors to reassess the stock’s risk-reward profile. Before committing new capital, holding existing positions, or choosing to lock in profits, a deeper review of OVV’s strategic direction and earnings trajectory is essential.

Where Do Price Performance & Estimates Stand for OVV?Over the past month, Ovintiv has delivered a robust 7.9% gain in its share price, outperforming both its sector’s gain of 3.9% and its sub-industry’s rise of 3.5%. This outperformance signals strong relative strength and highlights the company’s favorable positioning.

Stock Price Change Over the Past Month
Image Source: Zacks Investment Research

Meanwhile, the Zacks Consensus Estimate for Ovintiv’s 2025 earnings is pegged at $4.49 per share, indicating a 23% year-over-year decline and the consensus mark for its revenues is pegged at $8.7 billion for 2025, also implying a 5% year-over-year decline, indicating an unfavorable outlook.

OVV’s Earnings Estimate
Image Source: Zacks Investment Research

What Is Working in Favor of Ovintiv?Strong Production Performance and Consistent Outperformance of Guidance: Ovintiv continues to demonstrate strong operational execution, with third-quarter 2025 total production reaching 630,400 barrels of oil equivalent per day (BOE/d), exceeding the company’s own guidance. Oil and condensate volumes also surpassed expectations at 211.8 Mbbls/d, reinforcing operational reliability and well performance. The company’s ability to consistently meet or beat production targets indicates disciplined field execution and effective capital deployment, helping support stable cash flows even in a volatile price environment.

Strategic Growth Through Accretive Acquisitions: Ovintiv is expanding its premium inventory through highly strategic acquisitions. The 2025 Montney Acquisition added 109,000 net acres, while the newly announced $2.7 billion NuVista transaction further contributes 930 well locations, 140,000 net acres, and 100 MBOE/d of expected 2026 volumes. These acquisitions are adjacent to Ovintiv’s core operations, offering synergy potential, operational continuity and meaningfully expanding long-term resource depth.

High Liquidity and Strengthened Balance Sheet: With $3.3 billion in total liquidity, no outstanding revolving credit borrowings and declining long-term debt (down to $4.4 billion from $4.8 billion), Ovintiv maintains strong financial flexibility. A debt-to-capitalization of just 30% underscores prudent balance-sheet management. This financial strength gives the company the ability to pursue acquisitions, withstand commodity downturns and maintain shareholder returns through dividends and buybacks when appropriate.

Disciplined Capital Program Enhancing Efficiency: Ovintiv’s 2025 capital investment plan remains on track, with $544 million invested in the third quarter, consistent with guidance. The company continues to deploy advanced development models (cube development, multi-well pads, advanced completions) to improve resource recovery and reduce per-unit costs. This disciplined approach allows capital to be redirected toward high-return areas even as market conditions shift, supporting resilient free cash flow generation.

What’s Causing the Pressure on OVV Stock?Lower Realized Commodity Prices Impacting Margins: Despite strong production, realized prices remain under pressure, particularly oil, which decreased to $66.51 per barrel from $73.23 in the prior-year quarter and other NGLs at $17.22/bbl. These weaker prices weigh on revenue and margin expansion, increasing sensitivity to market conditions. The company’s profitability remains tightly coupled to commodity cycles, limiting earnings visibility.

Leverage Remains Elevated vs. Long-Term Target: While leverage has improved, total debt remains high at $5.2 billion, with management targeting a long-term level of $4 billion. Debt-to-EBITDA has risen to 1.8x, up from 1.3x a year ago, reflecting weaker earnings and price headwinds. Elevated leverage limits flexibility during commodity downturns, increases interest burden and may constrain capital allocation or delay further shareholder returns.

Heavy Capital Requirements Across Key Basins: To sustain production, Ovintiv plans $2.1-$2.2 billion in full-year capital. The Permian alone requires $1.2-$1.3 billion, while Montney and Anadarko require an additional $865-$935 million. Such high reinvestment intensity leaves the company exposed to cost inflation, rig price changes and service bottlenecks. A slowdown in drilling or cost overruns could quickly affect production momentum and free cash flow generation.

Temporary Halt in Buybacks Undermines Capital-Return Strategy: Ovintiv’s decision to pause its share buyback program for two quarters in order to help fund the NuVista acquisition raises concerns about the consistency of its capital-return strategy. Management has repeatedly signaled that the stock is undervalued and that buybacks offer a compelling return on capital, yet the suspension removes a meaningful source of near-term share-price support. This disconnect between stated beliefs and execution may frustrate investors who prefer disciplined, opportunistic repurchases — especially at a time when management itself argues the equity is attractively priced.

Final Verdict on OVV StockOVV has demonstrated a strong stock performance in the past month, supported by strong operational execution, consistent production outperformance and strategic acquisitions that deepen its high-quality inventory. Its solid liquidity and ongoing debt reduction further strengthen financial stability.

However, weaker realized commodity prices continue to pressure margins, while leverage remains above long-term targets, limiting flexibility. High capital requirements across key basins add reinvestment risk, and the temporary suspension of buybacks creates uncertainty around capital returns.

Taken together, Ovintiv offers durable fundamentals but carries enough risk to warrant a hold stance rather than aggressive accumulation or exit, making it suitable for investors seeking stability and long-term value retention.

OVV’s Zacks Rank & Key PicksCurrently, OVV has a Zacks Rank #3 (Hold).

Investors interested in the energy sector may consider some top-ranked stocks like Canadian Natural Resources Limited (CNQ - Free Report) , Oceaneering International, Inc. (OII - Free Report) and USA Compression Partners, LP (USAC - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Calgary-based Canadian Natural is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The Zacks Consensus Estimate for CNQ’s 2025 revenues indicates 5.7% year-over-year growth.

Oceaneering International is one of the leading suppliers of offshore equipment and technology solutions to the energy industry. The Zacks Consensus Estimate for OII’s 2025 earnings indicates 76.3% year-over-year growth.

USA Compression is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. The Zacks Consensus Estimate for USAC’s 2025 earnings indicates 29.8% year-over-year growth.

Kitco News

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Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

It has been about a month since the last earnings report for RTX (RTX - Free Report) . Shares have lost about 2.4% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is RTX due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for RTX Corporation before we dive into how investors and analysts have reacted as of late.

RTX Beats on Q3 Earnings & Revenues, Raises '25 EPS View

RTX Corporation’s third-quarter 2025 adjusted earnings per share (EPS) of $1.70 beat the Zacks Consensus Estimate of $1.42 by 19.7%. The bottom line also improved 17.2% from the year-ago quarter’s level of $1.45.

Including one-time items, the company reported GAAP earnings of $1.41 per share, marking an improvement from $1.09 in the prior-year quarter.

RTX’s Total RevenuesRTX’s third-quarter sales totaled $22.48 billion, which surpassed the Zacks Consensus Estimate of $21.48 billion by 4.6%. The top line also surged a solid 11.9% from $20.09 billion recorded for the third quarter of 2024.

RTX’s Operational PerformanceTotal costs and expenses increased nearly 10% year over year to $20.02 billion in the quarter. The company generated an adjusted operating profit of $2.97 billion compared with $2.48 billion in the prior-year quarter.

RTX posted an interest expense of $449 million compared with $496 million in the prior-year period.

RTX’s Segmental PerformanceCollins Aerospace: Sales in this segment totaled $7.62 billion, up 8% year over year.  This improvement can be primarily attributed to a 16% increase in commercial OE, a 13% increase in commercial aftermarket and a 6% increase in defense.

Pratt & Whitney: This segment’s sales totaled $8.42 billion, reflecting an improvement of 16% from the year-ago quarter’s reported number. Sales growth was fueled by a 5% rise in commercial OE, a 23% increase in commercial aftermarket, and a 15% gain in military sales. Commercial OE benefited from higher volumes in large engines and a favorable Pratt Canada mix, while aftermarket growth was supported by increased volumes across both segments. Military sales rose mainly due to higher F135 program volumes tied to the Lot 18 contract award.

Raytheon: This segment recorded sales of $7.05 billion, up 10% year over year. This was driven by higher volume on land and air defense systems, including international Patriot as well as higher volume on naval programs, including multiple classified programs, SM-6, and Evolved SeaSparrow Missile,

RTX’s Financial UpdateRTX had cash and cash equivalents of $5.97 billion as of Sept. 30, 2025, compared with $5.58 billion as of Dec. 31, 2024.

The long-term debt totaled $38.26 billion as of Sept. 30, 2025, compared with $38.73 billion as of Dec. 31, 2024.

Net cash flow from operating activities in the first nine months of 2025 was $6.4 billion compared with $5.6 billion a year ago.

Free cash flow totaled $4.03 billion compared with $1.97 billion in the year-ago quarter.

RTX’s GuidanceThe company now expects adjusted EPS to be in the band of $6.10-$6.20, up from the previous projection of $5.80-$5.95. The Zacks Consensus Estimate for 2025 EPS is pegged at $5.94, which is not in the raised guided range.

RTX raised its 2025 sales projection to the range of $86.5-$87 billion from the prior guidance of $84.75-$85.5 billion.

RTX still expects to generate free cash flow of $7.0-$7.5 billion for 2025.

How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.

VGM ScoresCurrently, RTX has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Following the exact same course, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, RTX has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

It has been about a month since the last earnings report for Pegasystems (PEGA - Free Report) . Shares have lost about 17.6% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Pegasystems due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.

PEGA Q3 Earnings Surpass Estimates, Revenues Increase Y/YPegasystems' third-quarter 2025 non-GAAP earnings of 30 cents per share, which beat the Zacks Consensus Estimate by 66.67% and increased 58% year over year.

Revenues of $381.35 million beat the Zacks Consensus Estimate by 7.42% and increased 17% year over year.

Pegasystems’ strong third-quarter 2025 performance is driven by its unique AI strategy, led by the Pega Blueprint platform. Growth was fueled by AI-integrated workflows, rising cloud subscriptions, and disciplined execution, resulting in higher ACV, backlog, and margin gains.

PEGA’s Quarterly PerformanceSubscription services revenues, comprising Pega Cloud and Maintenance, generated $264.2 million (contributing 69% to total revenues), up 18% on a year-over-year basis.

Subscription license revenues (16% of total revenues) were $60.6 million, representing a 33% year-over-year growth.

Total Subscription revenues, consisting of both subscription services and subscription licenses, rose 20% year over year to $324.8 million (contributing 85% to total revenues).

Consulting revenues (15% of the total revenues) were $56.4 million. The reported figure is up 4% year over year.

Perpetual license revenues (41.4% of the total revenues) were $158 million, declining 65% year over year. This segment remains a negligible contributor compared to others.

Pega Cloud's Annual Contract Value (ACV) increased 27% year over year to 815 million.

Maintenance and Subscription licenses, collectively referred to as Client Cloud ACV, rose 3% year over year to $742 million.

The company reported that Total ACV increased 14% year over year on a reported and constant-currency basis, reaching $1.557 billion.

The company's backlog grew 19% year over year on a reported basis and 18% on a constant currency basis, underscoring the sustained demand for its services and products and future revenue visibility.

Pegasystems’ Q3 Operating ResultsIn the third quarter of 2025, the gross margin expanded 190 basis points (bps) year over year to 72.3%.

Total operating expenses increased 8.7% year over year to $261 million. As a percentage of revenues, operating expenses decreased 550 bps.

The company reported an operating income of $14.5 million, down 224.1% year over year. 

The operating margin expanded 740 bps from the year-ago quarter to 3.8%.

PEGA’s Balance Sheet & Cash FlowAs of Sept. 30, 2025, cash and cash equivalents and marketable securities were $351.3 million compared with $411.6 million as of June 30, 2025.

Operating cash flow rose more than 38% year over year to $347 million, while free cash flow grew 38% to approximately $338 million.

PEGA repurchased 8.7M shares for $393 million in the year-to-date period.

How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.

VGM ScoresAt this time, Pegasystems has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Notably, Pegasystems has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

A month has gone by since the last earnings report for Omnicom (OMC - Free Report) . Shares have lost about 11.4% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Omnicom due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Omnicom Group Inc. before we dive into how investors and analysts have reacted as of late.

Omnicom Q3 Earnings and Revenues Beat EstimatesOmnicom reported impressive third-quarter 2025 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.

Earnings of $2.24 per share beat the consensus estimate by 4.2% and increased 10.3% year over year. Total revenues of $4.04 billion surpassed the consensus estimate by 0.4% and rose 4% year over year. The increase in the top line was led by a jump of 2.6% in revenues from organic growth.

OMC’s Organic Growth Across Disciplines and RegionsAcross fundamental disciplines, revenues from Advertising & Media increased 9.1% organically compared with our estimated growth of 8.7%. Precision marketing revenues jumped 0.8% compared with our estimate of 6.7% growth. Experiential revenues gained 17.7% compared with our expectation of 12.2% growth.

Public Relations revenues decreased 7.5% compared with our estimation of 1.3% growth. Healthcare revenues dropped 1.9% year over year organically compared with our estimated decline of 34.1%. Branding & Retail Commerce revenues were down 16.9% compared with our estimated decline of 10.3%. Execution and support increased 2% versus our estimated growth of 2.5%.

Across regional markets, year-over-year organic revenue growth was 4.6% in the United States and 27.3% in Latin America. Revenues gained 5.9% in the Middle East & Africa and 3.7% in the U.K.

Revenues decreased 2.4% in Other North America, 2.5% in the U.K., 3.1% in Euro Markets & Other Europe, and 3.7% in Asia Pacific.

OMC’s Margin PerformanceAdjusted EBITA in the quarter came in at $651 million, up 4.6% year over year. The adjusted EBITA margin was 16.1%, compared with 16% in the year-ago quarter. The operating profit of $530.1 million decreased 11.7% year over year, with the operating margin declining 240 bps to 13.1%.

How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.

VGM ScoresAt this time, Omnicom has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. However, the stock has a grade of A on the value side, putting it in the top quintile for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Omnicom has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

It has been about a month since the last earnings report for Matador Resources (MTDR - Free Report) . Shares have added about 3.4% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Matador due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.

Matador Q3 Earnings & Revenues Beat on Higher Production Volumes

Matador Resources reported third-quarter 2025 adjusted earnings of $1.36 per share, which beat the Zacks Consensus Estimate of $1.22. However, the bottom line declined from the year-ago quarter’s level of $1.89.

Total revenues of $939 million topped the Zacks Consensus Estimate of $883 million. The top line also increased from the year-ago quarter’s $899.8 million.

Better-than-expected quarterly results were driven by an increase in total production volumes. The positives were partially offset by lower oil price realizations and higher total operating expenses.

Upstream Business in Q3

Matador Resources is primarily involved in oil and gas exploration and production activities in the United States. The company’s overall financial performance is heavily dependent on the oil and gas pricing environment. Most of MTDR’s production comprises oil (57% of total third-quarter production), making this commodity’s price a major factor in determining the company’s earnings.

The average daily oil production was 119,556 barrels, reflecting a 2% increase from the anticipated figure. The company’s production volumes exceeded the guidance range, primarily due to the sustained outperformance of Matador’s producing wells and those brought into production in the third quarter of 2025. Additionally, MTDR’s Avalon wells in Lea County, New Mexico, contributed to the higher output.

Let us take a look at the average commodity sales price, along with production.

Average Sales Price of Commodities

The average sales price for oil (without realized derivatives) was $64.91 per barrel, down from $75.67 a year ago. The commodity price was also lower than our projection of $65.18 per barrel. The price of natural gas was $1.95 per thousand cubic feet (Mcf), up from $1.83 in the year-ago quarter. However, the figure came in lower than our estimate of $2.81 per Mcf.

Upstream Production

Matador reported oil production of 119,556 barrels per day (Bbl/D), up from 100,315 Bbl/D in the prior-year quarter. The figure also beat our estimate of 117,879.6 Bbl/D. Natural gas production was recorded at 537.8 million cubic feet per day (MMcf/D), up from 427 MMcf/D recorded a year ago. The reported figure came in higher than our estimate of 494.7 MMcf/D.

The rise in total average production can be attributed to the sustained outperformance of the company’s existing wells and the new wells brought into production in the third quarter. Notably, Matador’s non-operated wells in the Haynesville shale, where the company mainly owns mineral interest, contributed to the production increase.

Total oil equivalent production in the third quarter was 209,184 BOE/D, reflecting a 22% increase from the year-ago quarter’s 171,480 BOE/D. The figure also exceeded our projection of 200,323.6 BOE/D.

Dividend Hike

Matador Resources announced a 20% increase to its quarterly cash dividend, raising it from $0.3125 per share to $0.375 per share for the third quarter of 2025 (annualized dividend of $1.50). The dividend is payable on Dec. 5, 2025, to shareholders of record as of Nov. 10, 2025.

Operating Expenses

MTDR’s plant and other midstream services’ operating expenses decreased to $2.63 per BOE from the year-earlier level of $2.77. Our estimate for the same was pinned at $2.87.

Lease operating costs increased to $5.58 per BOE from $5.50 a year ago. Our projection for the metric was pinned at $5.52 per BOE. Production taxes, transportation and processing costs declined to $4.32 per BOE from $4.61 in the year-ago quarter. Our projection for the metric was pinned at $5.70 per BOE.

Overall, total operating expenses per BOE were $30.31, higher than the prior-year figure of $30.09 and also below our estimate of $31.64 per BOE.

Balance Sheet & Capital Spending

As of Sep. 30, 2025, MTDR had cash and restricted cash of $96.4 million and a long-term debt of $3,219.6 million. In the third quarter, the company spent $347.5 million on well drilling, completion and equipment.

Outlook

Matador Resources updated its full-year 2025 average daily oil equivalent production guidance to 205,500-206,500 BOE/d from 200,000-205,000 BOE/d. The company also expects average daily total production for the fourth quarter of 2025 to be 205,000-208,000 BOE/d. It has also increased its total 2025 capital expenditure forecast to $1.625-$1.725 billion. For 2026, the company has forecasted an organic increase in daily production to approximately 210,000 BOE. Matador expects oil production to grow 2-5% from 2025 to 2026.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in estimates review.

The consensus estimate has shifted -15.03% due to these changes.

VGM ScoresCurrently, Matador has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of A on the value side, putting it in the top quintile for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Matador has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.

A month has gone by since the last earnings report for Lockheed Martin (LMT - Free Report) . Shares have lost about 3.5% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Lockheed due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.

Lockheed's Q3 Earnings Surpass Estimates, Sales Increase Year Over Year

Lockheed Martin Corporation reported third-quarter 2025 adjusted earnings of $6.95 per share, which beat the Zacks Consensus Estimate of $6.33 by 9.8%. The bottom line increased 2.2% from the year-ago quarter's reported figure of $6.80.

The year-over-year improvement in earnings was primarily driven by higher revenues and operating profit generated in the third quarter of 2025 compared with the prior-year quarter.

Operational Highlights of LockheedNet sales were $18.61 billion, which beat the Zacks Consensus Estimate of $18.56 billion by 0.3%. The top line also inched up 8.8% from $17.10 billion reported in the year-ago quarter.

The year-over-year improvement was driven by higher sales growth registered by LMT’s business segments.

LMT’s BacklogLMT’s backlog as of Sept. 28, 2025, was $179.07 billion compared with $176.04 billion as of Dec. 31, 2024.

The Aeronautics segment accounted for $47.51 billion of the total backlog amount, while the Missiles and Fire Control segment contributed $45.91 billion. The Rotary and Mission Systems segment contributed $47.27 billion, while the Space unit accounted for $38.39 billion.

Lockheed’s Segmental PerformanceAeronautics: Sales increased 11.9% year over year to $7.26 billion. This rise was driven by higher sales volume from the F-35 program.

The segment reported an operating profit of $682 million compared with an operating profit of $659 million in the year-ago quarter. The operating margin, however, contracted 80 basis points (bps) to 9.4%.

Missiles and Fire Control: Quarterly sales improved a solid 14.1% year over year to $3.62 billion. This was on account of higher sales from tactical and strike missile programs.

The segment’s operating profit increased 11.8% year over year to $510 million. The operating margin, however, contracted 30 basis points to 14.1%.

Space: The top line improved 9.1% year over year to $3.36 billion, driven by higher sales from strategic and missile defense programs.

The segment’s operating profit increased 21.7% to $331 million. The operating margin also expanded 110 bps to 9.9%.

Rotary and Mission Systems: Quarterly revenues increased 0.1% to $4.37 billion on a year-over-year basis, driven by higher sales from Sikorsky helicopter programs.

The segment reported an operating profit of $506 million compared with an operating profit of $483 million in the third quarter of 2024. The operating margin also expanded 50 bps to 11.6%.

Financial Condition of LMTLockheed’s cash and cash equivalents totaled $3.47 billion as of Sept. 28, 2025, compared with $2.48 billion at the end of 2024.

Cash from operating activities amounted to $5.34 billion as of Sept. 28, 2025, compared with $5.95 billion a year ago.

Long-term debt as of Sept. 28, 2025, totaled $20.52 billion, down from $19.63 billion as of Dec. 31, 2024.

Lockheed’s 2025 GuidanceLockheed now expects to generate sales in the range of $74.25-$74.75 billion in 2025, narrower than its earlier estimate of $73.75-$74.75 billion. The Zacks Consensus Estimate is pegged at $74.20 billion, which lies below the midpoint of the company’s sales guidance.

LMT has raised its adjusted earnings per share (EPS) guidance. The company now expects to generate adjusted EPS in the range of $22.15-$22.35 compared with the earlier guidance of $21.70-$22.00. The consensus estimate is currently pegged at $21.86 per share, which lies lower than the company’s newly guided range.

Lockheed expects to generate cash from operations of approximately $8.50 billion.

It continues to expect capital expenditure of approximately $1.90 billion.

Lockheed expects to generate a free cash flow of approximately $6.60 billion.

How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.

VGM ScoresAt this time, Lockheed has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of B on the value side, putting it in the second quintile for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Lockheed has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

A month has gone by since the last earnings report for Halliburton (HAL - Free Report) . Shares have added about 0.6% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Halliburton due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.

Halliburton Beats on Q3 Earnings, Trims 2026 Capex PlanHalliburton reported third-quarter 2025 adjusted net income per share of 58 cents, beating the Zacks Consensus Estimate of 50 cents. The outperformance primarily reflects successful cost reduction initiatives.

However, the bottom line fell from the year-ago adjusted profit of 73 cents due to softer activity in the North American region.

Revenues of $5.6 billion declined 1.7% year over year but beat the Zacks Consensus Estimate by 4%.

Inside Halliburton’s Regions & SegmentsNorth American revenues edged down 0.9% year over year to $2.4 billion but beat our projection by more than $246 million. Revenues from Halliburton’s international operations decreased 2.3% from the year-ago period to $3.2 billion and fell short of our estimate of $3.3 billion.

The Completion and Production segment earned $514 million in operating income, lower than last year’s $669 million but topped our estimate of $449.5 million. The year-over-year decline was due to weaker completion tool demand overseas, reduced well intervention work in the Middle East and Asia, and lower cementing activity in North America. Additionally, fewer active rigs in Saudi Arabia weighed on operating income. However, stronger completion tool sales and higher artificial lift activity in North America, along with improved cementing work in Africa and Latin America, helped the segment beat our estimate.

The Drilling and Evaluation unit's profit fell to $348 million in the third quarter of 2025 from $406 million in the same period in 2024, though the figure outperformed our estimate of $339 million. The downtick was caused by reduced activity across several service lines in the Middle East and lower fluid services in North America and Europe/Africa. This was partly offset by stronger project management and wireline activity in Latin America, higher drilling demand in North America and Europe/Africa, and better software sales in Europe/Africa.

Balance SheetHalliburton reported third-quarter capital expenditure of $261 million, well below our projection of $323.8 million. As of Sept. 30, 2025, the company had approximately $2 billion in cash/cash equivalents and $7.2 billion in long-term debt, representing a debt-to-capitalization ratio of 41.1. HAL bought back $250 million worth of its stock during the July-September period. The company generated $488 million of cash flow from operations in the third quarter, leading to a free cash flow of $276 million.

Management Remarks & OutlookDuring the recently reported quarter, Halliburton implemented measures expected to generate about $100 million in quarterly savings, lowered its 2026 capital budget by around 30% to $1 billion and idled underperforming equipment. Management noted that international operations continue to perform strongly, with Halliburton’s value proposition resonating with customers and driving both onshore and offshore growth. In North America, the company is focusing on maximizing value through disciplined returns, advanced technologies and partnerships with top operators. Halliburton remains committed to returning cash to shareholders, maintaining strict cost and capital discipline, and investing in technologies aimed at sustaining long-term growth.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.

The consensus estimate has shifted 16.71% due to these changes.

VGM ScoresCurrently, Halliburton has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock has a grade of A on the value side, putting it in the top 20% for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Halliburton has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerHalliburton is part of the Zacks Oil and Gas - Field Services industry. Over the past month, Liberty Oilfield Services (LBRT - Free Report) , a stock from the same industry, has gained 11%. The company reported its results for the quarter ended September 2025 more than a month ago.

Liberty Oilfield Services reported revenues of $947.4 million in the last reported quarter, representing a year-over-year change of -16.8%. EPS of -$0.06 for the same period compares with $0.45 a year ago.

Liberty Oilfield Services is expected to post a loss of $0.21 per share for the current quarter, representing a year-over-year change of -310%. Over the last 30 days, the Zacks Consensus Estimate has changed -21.2%.

Liberty Oilfield Services has a Zacks Rank #4 (Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.

It has been about a month since the last earnings report for GE Aerospace (GE - Free Report) . Shares have added about 1% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is GE due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for GE Aerospace before we dive into how investors and analysts have reacted as of late.

GE Aerospace Q3 Earnings & Revenues Surpass Estimates, Increase Y/YGE Aerospace reported third-quarter 2025 results, wherein both revenues and earnings surpassed the Zacks Consensus Estimate.

It is worth noting that in April 2024, GE Aerospace emerged as a separate public company, following the spin-off of GE Vernova Inc. from General Electric.

Inside The HeadlinesThe company’s third-quarter adjusted earnings were $1.66 per share, which beat the Zacks Consensus Estimate of $1.46. The bottom line surged 44% year over year.

Total revenues were $12.2 billion, indicating a year-over-year increase of 24%. Total orders grew 2% on a year-over-year basis to $12.8 billion.

Adjusted revenues were $11.3 billion, marking a year-over-year increase of 26%. The metric beat the consensus estimate of $10.3 billion.

Segmental DiscussionRevenues from the company’s Commercial Engines & Services business jumped 27% year over year to $8.88 billion. The Zacks Consensus Estimate for the business’ revenues was pegged at $8.25 billion. The results were driven by higher shop visit work scope, increased revenues from spare parts and equipment and favorable pricing. Total orders in the segment rose 5% year over year to $10.3 billion.

The Defense & Propulsion Technologies segment’s revenues totaled $2.83 billion, up 26% year over year. The Zacks Consensus Estimate for the segment’s revenues was pegged at $2.52 billion. Results benefited from the strong momentum in the Defense & Systems and Propulsion & Additive Technologies businesses. Total orders in the segment decreased 5% year over year to $2.9 billion owing to timing issues across quarters.

Margin ProfileGE Aerospace’s cost of sales (comprising costs of equipment and services sold) surged 24.7% year over year at $7.76 billion. Selling, general and administrative expenses decreased 10.2% year over year to $1.2 billion. Research and development expenses totaled $415 million, reflecting a year-over-year rise of 25.4%.

GE Aerospace’s operating profit (non-GAAP) was $2.3 billion, up 26.5% year over year. The margin was 20.3%, relatively stable year over year.

GE Aerospace’s Balance Sheet & Cash FlowExiting the third quarter of 2025, GE Aerospace had cash, cash equivalents and restricted cash of $12.5 billion compared with $13.6 billion at the end of December 2024. The company’s long-term borrowings were $18.8 billion compared with $17.2 billion at the end of December 2024.

In the third quarter, the adjusted free cash flow was $2.36 billion compared with $1.82 billion in the year-ago quarter.

In the same quarter, it rewarded its shareholders with a dividend payment of $0.4 billion. The company repurchased shares for approximately $1.8 billion during the same period.

OutlookFor 2025, GE expects adjusted revenues to grow in the high-teens range from the year-ago period's actual. Operating profit is estimated to be in the band of $8.65-$8.85 billion. Adjusted earnings are predicted to be in the range of $6.00-$6.20 per share. The free cash flow is anticipated to be in the band of $7.1-$7.3 billion, with the conversion rate projected to be more than 100%.

GE Aerospace expects the Commercial Engines & Services segment’s revenues to grow in the low twenties range, whereas operating profit is anticipated to be in the band of $8.45-$8.65 billion. For the Defense & Propulsion Technologies segment, revenues are projected to increase in the high-single-digit range, whereas operating profit is anticipated to be in the band of $1.2-$1.3 billion.

How Have Estimates Been Moving Since Then?It turns out, estimates revision flatlined during the past month.

The consensus estimate has shifted 6.14% due to these changes.

VGM ScoresCurrently, GE has a nice Growth Score of B, a score with the same score on the momentum front. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for value investors.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook GE has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

It has been about a month since the last earnings report for EQT Corporation (EQT - Free Report) . Shares have added about 10.1% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is EQT due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for EQT Corporation before we dive into how investors and analysts have reacted as of late.

EQT's Q3 Earnings Top Estimates, Revenues Increase Y/YEQT Corp reported third-quarter 2025 adjusted earnings from continuing operations of 52 cents per share, which beat the Zacks Consensus Estimate of 47 cents. The bottom line increased from the year-ago quarter’s figure of 12 cents.

Adjusted operating revenues increased to $1,753 million from $1,383 million in the prior-year quarter. However, the top line missed the Zacks Consensus Estimate of $1,804 million.

The strong quarterly earnings were driven by an increase in total sales volume and a higher natural gas sales price. However, a decline in oil prices partially offset these positives.

Dividend HikeEQT announced a quarterly cash dividend of 16.50 cents per share for the third quarter of 2025 (annualized dividend of 66 cents), reflecting a sequential increase of approximately 5%. The dividend is payable on Dec. 1, 2025, to shareholders of record as of Nov. 5, 2025.

ProductionSales volume increased to 634 billion cubic feet equivalent (Bcfe) from the year-ago level of 581 Bcfe. The reported figure, however, missed our estimate of 638 Bcfe.

Natural gas sales volume was 596 Bcf, up from 547 Bcf in the year-ago quarter. The figure came in below our estimate of 604 Bcf.

The total liquid sales volume was 6,459 thousand barrels (MBbls), up from the year-ago level of 5,699 MBbls. The figure exceeded our projection of 5,748 MBbls.

Commodity Price RealizationsThe average realized price was $2.76 per thousand cubic feet of natural gas equivalent (Mcfe), up from the year-ago figure of $2.38.

The average natural gas price, including cash-settled derivatives, was $2.66 per Mcf, which increased year over year from $2.23.

The natural gas sales price was $3.24 per Mcf, higher than $2.27 recorded a year ago.

However, the oil price was $49.12 per barrel compared with the year-ago figure of $61.25. Our estimate for the same was pinned at $50.07 per barrel.

ExpensesTotal operating expenses were $1.36 billion, lower than $1.57 billion reported in the prior-year quarter.

Gathering expenses totaled 6 cents per Mcfe, down from the year-ago level of 20 cents. Transmission expenses totaled 40 cents per Mcfe, down from 43 cents recorded a year ago. Lease operating expenses amounted to 9 cents per Mcfe, flat year over year. Selling, general and administrative expenses came in at 16 cents per Mcfe, lower than the year-ago level of 15 cents.

Cash FlowsEQT’s adjusted operating cash flow totaled $1.22 billion in the reported quarter, up from $522 million a year ago. The free cash flow totaled $601 million, up from a negative free cash flow of $121 million in the corresponding period of 2024.

Capex & Balance SheetTotal capital expenditure was $618 million, higher than $558 million reported a year ago.

As of Sep. 30, 2025, the company had cash and cash equivalents of $236 million and net debt worth $7.98 billion.

GuidanceFor the fourth quarter of 2025, EQT expects total sales volume to be between 550 and 600 Bcfe. EQT updated the total sales volume forecast to 2,325-2,375 Bcfe for 2025. Capital expenditures are projected to be in the band of $635-$735 million for the fourth quarter. For the full year, total capital expenditures are expected to be in the range of $2,300-$2,400 million.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.

The consensus estimate has shifted -13.89% due to these changes.

VGM ScoresAt this time, EQT has a nice Growth Score of B, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a grade of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, EQT has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

A month has gone by since the last earnings report for Chubb (CB - Free Report) . Shares have added about 6.3% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Chubb due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Chubb Limited before we dive into how investors and analysts have reacted as of late.

Chubb Limited Q3 Earnings & Revenues Beat Estimates, Premiums Rise Y/Y

Chubb reported third-quarter 2025 core operating income of $7.49 per share, which beat the Zacks Consensus Estimate by 26%. The bottom line increased 30.9% year over year.

The quarterly results reflect strong performance across most of the segments, solid underwriting income, improved investment income, and a lower level of catastrophe.

Quarter in DetailNet premiums written improved 7.5% year over year to $14.8 billion in the quarter. Our estimate was $14.4 billion while the Zacks Consensus Estimate was pegged at $14.5 billion.

Pre-tax net investment income was $1.65 billion, up 9.3% year over year. Our estimate and the Zacks Consensus Estimate were both pegged at $1.8 billion.

Revenues of $16.1 billion beat the consensus estimate by 1.6% and improved 7.4% year over year.

Property and casualty (P&C) underwriting income was $2.2 billion, up 55% year over year. The Zacks Consensus Estimate was pegged at $1.4 billion. Current accident year underwriting income, excluding catastrophe losses, was $2.2 billion, up 10.3%.

Chubb Limited incurred a pre-tax P&C catastrophe loss, net of reinsurance and including reinstatement premiums of $285 million, which was narrower than the year-ago catastrophe loss of $765 million.

The P&C combined ratio improved 590 basis points (bps) on a year-over-year basis to 81.8% in the quarter under review. The Zacks Consensus Estimate for the combined ratio was pegged at 88.

Segmental UpdateNorth America Commercial P&C Insurance: Net premiums written increased 2.9% year over year to $5.6 billion. Our estimate was $5.4 billion. The combined ratio improved 500 bps to 81.5%. Our estimate was 85.9.

North America Personal P&C Insurance: Net premiums written climbed 8.1% year over year to $1.8 billion. Our estimate was $1.7 billion. The combined ratio improved 1,620 bps to 65.1%, reflecting lower catastrophe losses and higher favorable prior period development. Our estimate was 85.9.

North America Agricultural Insurance: Net premiums written increased 5.6% from the year-ago quarter to $1.4 billion, primarily due to an increase in exposure in the company’s crop insurance business, which more than offset year-over-year declines in commodity prices. The figure matched our estimate. The combined ratio improved 240 bps to 88%. Our estimate was 96.4%.

Overseas General Insurance: Net premiums written jumped 9.7% year over year to $3.6 billion. The figure matched both the Zacks Consensus Estimate and our estimate. The combined ratio improved 270 bps to 83.3%. Our estimate was 88.4.

Global Reinsurance: Net premiums written declined 13.5% year over year to $304 million. Our estimate was $408.4 million. The combined ratio improved 1,700 bps to 77.4%. Our estimate was 127.9.

Life Insurance: Net premiums written increased 24.6% year over year to $1.93 billion, with growth of 26.5% in International Life. Our estimate was $1.8 billion.

The Life Insurance segment income was $324 million, up 13.9% in constant dollars. The Zacks Consensus Estimate was pegged at $278 million.

Financial UpdateThe cash balance of $2.4 billion, as of Sept. 30, 2025, decreased 3.7% from the 2024-end level. Total shareholders’ equity grew 13.7% from the level at 2024-end to $77.8 billion as of Sept. 30, 2025. Book value per share, as of Sept. 30, 2024, was $182.22, up 14% from the figure as of Dec. 31, 2024.

Core operating return on tangible equity expanded 280 bps year over year to 24.5%. Operating cash flow was $3.64 billion in the quarter under consideration, while adjusted operating cash flow was $4.51 billion.

Capital DeploymentIn the quarter, Chubb Limited bought back shares worth $1.23 billion and paid $385 million in dividends.

How Have Estimates Been Moving Since Then?It turns out, estimates review flatlined during the past month.

VGM ScoresCurrently, Chubb has a subpar Growth Score of D, a grade with the same score on the momentum front. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for value investors.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook Chubb has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerChubb is part of the Zacks Insurance - Property and Casualty industry. Over the past month, Progressive (PGR - Free Report) , a stock from the same industry, has gained 0.1%. The company reported its results for the quarter ended September 2025 more than a month ago.

Progressive reported revenues of $22.22 billion in the last reported quarter, representing a year-over-year change of +14.3%. EPS of $4.05 for the same period compares with $3.58 a year ago.

Progressive is expected to post earnings of $4.39 per share for the current quarter, representing a year-over-year change of +7.6%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.6%.

Progressive has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.

A month has gone by since the last earnings report for Badger Meter (BMI - Free Report) . Shares have lost about 7.4% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Badger Meter due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Badger Meter, Inc. before we dive into how investors and analysts have reacted as of late.

Badger Meter's Q3 Earnings Surpass Estimates

Badger Meter reported earnings per share of $1.19 for third-quarter 2025, which surpassed the Zacks Consensus Estimate by 7.2%. Also, the bottom line compared favorably with the year-ago quarter’s EPS of $1.08.

Quarterly net sales were $235.7 million, up 13.1% from $208.4 million in the year-ago quarter, driven by higher utility water sales. The Zacks Consensus Estimate was pegged at $229.4 million.

Management highlighted that although the company navigates ongoing macroeconomic, trade and policy challenges, demand for its industry-leading cellular AMI and BlueEdge smart water management solutions remains robust. The company is confident that the long-term trends driving digital water technology adoption among utilities and commercial and industrial customers will sustain its revenue growth.

The company is well-positioned to invest in innovation and pursue strategic, value-driven acquisitions with another quarter of strong free cash flow. It remains on track to realize the expected sales and cost synergies from the SmartCover acquisition.

Segmental Performance

In the quarter under review, utility water sales rose 14% year over year. Even excluding SmartCover, utility water sales were up 8%. The growth was driven by higher ultrasonic meter volumes, increased BEACON Software-as-a-Service sales and stronger water quality product demand.

Flow instrumentation sales grew 4% year over year, as strength in water-related markets offset softer demand in deemphasized non-water applications.

Other Details

In the third quarter, gross profit was $95.8 million, up from $83.9 million in the prior-year quarter. Gross margin was 40.7%, up 50 basis points (bps) year over year.

Gross margin continued to benefit from ongoing structural mix improvements, while implemented price increases helped offset some tariff-related cost pressures during the quarter. Although the trade environment remains dynamic, it has raised its historical gross margin range of 38%–40% to a new normalized range of 39%–42%.

Operating earnings jumped 13% year over year to $46.1 million, while operating margin declined 10 bps to 19.6% from 19.5%.

Selling, engineering and administration (SEA) expenses rose 11.8% year over year to $49.8 million. This increase was mainly driven by the addition of SmartCover, which included $1.6 million in intangible asset amortization. Base SEA expenses rose 3% year over year, reflecting a $1.8 million benefit from a deferred compensation plan tied to the stock price change during the quarter. Overall, SEA as a percentage of sales rose slightly to 21.1% from 20.8% in the prior-year quarter.

Cash Flow & Liquidity

In the third quarter of 2025, Badger Meter generated $51.3 million of net cash from operating activities compared with $45.1 million a year ago.

As of Sept. 30, 2025, the company had $201.7 million of cash and cash equivalents and $153.4 million of total current liabilities compared with the respective figures of $165.2 million and $138.7 million as of June 30, 2025.

Outlook

The company remains confident in its long-term growth prospects, supported by a robust opportunity pipeline and strong demand for its smart water management solutions. It expects to achieve an average high single-digit top-line growth rate over the next five years, driven by continued technology adoption and strategic pricing initiatives that help offset tariff impacts.

With a raised normalized gross margin range of 39–42% and consistent free cash flow generation, the company is well-positioned to invest in innovation and pursue disciplined, value-creating acquisitions such as SmartCover. Management remains focused on executing its strategic priorities while staying agile amid evolving macroeconomic, trade and supply chain conditions.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in fresh estimates.

VGM ScoresAt this time, Badger Meter has a nice Growth Score of B, a grade with the same score on the momentum front. However, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for value investors.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Badger Meter has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Key Takeaways Jacobs reported Q4 EPS of $1.75, up 27.7%, and revenues of $3.15B, both beating estimates.J saw margin gains from favorable mix, operational efficiency & segment strength in I&AF and PA Consulting.Record backlog of $23.06B and a bullish FY26 outlook support expectations for continued growth.
Jacobs Solutions Inc. (J - Free Report) delivered a solid fiscal fourth-quarter 2025 performance, with both earnings and revenues surpassing the Zacks Consensus Estimate. Broad-based strength across Life Sciences, Data Centers, Water, Energy & Power and Transportation continued to fuel momentum, while disciplined execution supported margin expansion.

The share price of Jacobs gained more than 3.5% after the earnings release.

Revenues & Earnings: Both Metrics Beat ExpectationsFourth-quarter fiscal 2025 revenues were $3.15 billion, rising 6.6% year over year and narrowly exceeding the Zacks Consensus Estimate of $3.14 billion. Adjusted net revenue increased 5.8% year over year to $2.24 billion, reflecting healthy underlying growth across the company’s core markets.

Adjusted earnings per share (EPS) came in at $1.75, up 27.7% from $1.37 last year and well above the Zacks Consensus Estimate of $1.67. GAAP EPS was $1.05, down sharply due to mark-to-market impacts associated with Jacobs’ prior Amentum stake—an effect management noted was not reflective of underlying operational performance.

Margins Strengthen on Improved Mix and ExecutionGross profit rose to $766.9 million from $735.1 million a year earlier. Adjusted EBITDA grew 12% year over year to $324 million, supported by a meaningful margin expansion to 14.4% from 13.6% in the prior-year quarter. Adjusted operating profit climbed to $326 million from $280.5 million a year ago, with the adjusted operating margin improving to 14.5%, up 134 basis points year over year. These gains were driven by a favorable mix, operational efficiencies and stronger performance in I&AF and PA Consulting.

Segment Performance: I&AF Leads, PA Consulting AcceleratesInfrastructure & Advanced Facilities (I&AF) delivered $2.84 billion in revenues, up about 6% from last year, with adjusted net revenues of $1.92 billion. Operating profit grew to $254 million from $218.7 million a year ago, reflecting robust project execution. Operating margin expanded 130 bps year over year to 13.2%. The segment benefited from the Transportation project ramps, strong Energy & Power demand and sustained strength across Life Sciences and Data Centers. Backlog for I&AF increased to $22.65 billion from $21.47 billion a year ago.

PA Consulting generated $318.5 million in revenues, rising about 10% year over year, with operating profit improving to $72 million from $61.7 million a year ago and margins expanding 140 bps to 22.6%. The unit continued to show strong momentum, with a backlog of $415 million.

Total company backlog reached a record $23.06 billion, increasing 5.6% year over year, and the book-to-bill ratio remained healthy at 1.1X.

Balance Sheet, Liquidity & Shareholder ReturnsJacobs ended the fiscal fourth quarter with $1.24 billion in cash and cash equivalents (compared with $1.14 billion at fiscal 2024-end) and $2.24 billion in long-term debt. Liquidity remains strong, supported by disciplined cash management and lower leverage, with net debt-to-EBITDA at 0.8x, below the company’s targeted 1.0–1.5x range.

For fiscal 2025, cash flow from operations totaled $687 million, and free cash flow reached $607 million. The company returned a record $1.1 billion to shareholders, including $754 million in share repurchases and dividends.

Jacobs’ Fiscal 2025 HighlightsFull-year gross revenue rose 4.6% year over year to $12.0 billion, while adjusted net revenue increased 5.3% year over year to $8.7 billion, reflecting healthy underlying demand across key sectors such as life sciences, data centers, water, transportation and energy & power. Adjusted earnings remained strong: adjusted EBITDA grew 13.9% year over year to $1.2 billion, yielding a margin improvement to 13.9%, and adjusted EPS increased 15.9% year over year to $6.12, demonstrating expanding operating leverage.

Jacobs’ Fiscal 2026 Outlook: Revenue, Margin & EPS Growth ExpectedJacobs issued an optimistic fiscal 2026 outlook, projecting 6–10% adjusted net revenue growth, adjusted EBITDA margin of 14.4–14.7%, adjusted EPS of $6.90–$7.30, and free-cash-flow margin of 7–8%. Management highlighted continued strength in secular growth markets and the benefit of a record backlog entering the new fiscal year.

Jacobs’ Zacks Rank & Few Construction ReleasesJacobs currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

AECOM (ACM - Free Report) delivered a strong fourth-quarter performance, surpassing its raised earnings guidance and achieving its highest-ever annual margin. The company ended the year with a record backlog and pipeline, marking the fifth consecutive quarter of sequential backlog growth. It now expects to reach a 20%+ margin run rate by fiscal 2028, supported by advancements in its proprietary AI capabilities and continued growth in its higher-margin Advisory business.

AECOM also issued fiscal 2026 guidance that reflects sustained strength across all key financial metrics. AECOM expects adjusted EBITDA in the range of $1.265-$1.305. This indicates 7% year-over-year growth at the midpoint.

United Rentals, Inc.’s (URI - Free Report) third-quarter 2025 EPS missed the Zacks Consensus Estimate, while revenues beat the same. On a year-over-year basis, the top line increased, but the bottom line declined.

United Rentals reported record third-quarter revenues and adjusted EBITDA, driven by strong demand across construction and industrial end markets. Growth in both general rentals and specialty segments supported the results. Customer optimism, healthy backlogs and seasonal activity contributed to the overall strength. For 2025, United Rentals expects total revenues to be in the range of $16-$16.2 billion compared with $15.8-$16.1 billion expected earlier.

Vulcan Materials Company (VMC - Free Report) reported impressive third-quarter 2025 results, with adjusted earnings and revenues topping the Zacks Consensus Estimate and increasing year over year.

The quarterly performance of Vulcan was driven by solid contributions from its aggregates-led business, alongside effective commercial and operational execution. The market’s public infrastructure spending trends are favoring its business prospects, despite tariff-related uncertainties circling the economy. Vulcan now expects adjusted EBITDA for 2025 to be between $2.35 billion and $2.45 billion, up from $2.06 billion reported in 2024.

Want more income with less effort and capital? You'll need to choose your investments carefully, but it's possible to achieve amazing results with just $2,500 invested in a few stocks and exchange traded funds (ETFs).

The Grand Court of the Cayman Islands granted the injunction against Maple Finance completing its own liquid staking token syrupBTC. Nov 20, 2025, 3:47 p.m.

Core Foundation, the creator of the yield-bearing lstBTC token, won an injunction against Maple Finance over alleged breaches of confidentiality related to their partnership in bringing the token to market.

The Grand Court of the Cayman Islands granted the injunction against Maple Finance completing its own liquid-staking token, syrupBTC, or from dealing in CORE tokens pending arbitration proceedings, Core Foundation announced on Wednesday.

STORY CONTINUES BELOW

Judge Jalil Asif said there is evidence supporting Core's claims that Maple were informed their actions "would have the effect of causing very significant commercial damage," to Core, according to a court document dated Oct. 30.

Core Foundation and Maple teamed up early this year to develop the token, which enables holders to earn yield on their bitcoin BTC$92,123.27 holdings while their BTC is secured by custodians like BitGo, Copper and Hex Trust.

The foundation claimed Maple breached its exclusivity obligations and misappropriated Core's intellectual property and confidential information to develop their own product while amassing $150 million in client assets through the lstBTC partnership.

Core also accused Maple of creating risk to lenders by declaring "impairments to the value of millions of dollars" of BTC deposits.

"It is unclear why Maple maintains that they are unable to return the bitcoin to their lenders at this time, or if they have the right to impair them," Core said in the announcement.

Maple described Core's actions as "directly against lender interests," in a post on X.

"Maple denies any allegations of wrongdoing on its part and will be pursuing all available remedies aggressively to ensure Core Foundation is held responsible for the consequences of their actions," the Melbourne, Australia-based credit marketplace said.

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As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.View Full Report

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Tether has invested in Parfin, a London- and Rio de Janeiro-based digital asset platform, to push USDT deeper into Latin America’s institutional market and expand onchain settlement across the region.

According to Tether, the investment underscores its push to position USDt (USDT) as an institutional settlement rail for high-value activities, including cross-border payments, real-world asset (RWA) tokenization, and credit markets tied to trade finance, commercial invoices and card receivables.

Founded in 2019, Parfin builds infrastructure for institutions to custody, tokenize and transact digital assets. In October, the company secured official registration in Argentina as a virtual asset service provider and was recognized by the country’s financial regulator. It has been operating in Brazil since 2020.

Tether CEO Paolo Ardoino said the investment reflects the company’s “belief in Latin America as one of the global powerhouses for blockchain innovations.”

Tether’s USDT is the largest stablecoin in the world, with a market cap of about $183.73 billion, according to DefiLlama data. The total market capitalization of all stablecoins is currently around $303.2 billion.

Tether’s investment, the size of which was not disclosed, comes a few days after it invested in Ledn, a Bitcoin-backed lending platform.

Stablecoin market cap. Source: Defillama The rise of crypto in Latin AmericaAccording to an October report from Chainalysis, Latin America has emerged as a leading crypto hub. From July 2022 to June 2025, the region saw nearly $1.5 trillion in crypto transactions. Brazil leads with $318.8 billion in crypto inflows, nearly a third of all LATAM activity, while Argentina follows with $93.9 billion.

Year-over-year growth in crypto transactions by country in Latin America. Source: ChainalysisOne of the major drivers of crypto adoption in Latin America is the search for protection against inflation. Argentina, for example, has battled with soaring inflation for years, and in September it suffered a run on the peso that forced the country’s central bank to spend over $1 billion.

Stablecoins have proven to be one solution to the problem. A report from Mexico-based crypto exchange Bitso in March said stablecoins have become a “store of value” for many citizens in Latin America. In 2024, USDT and Circle’s USDC (USDC) comprised 39% of all crypto purchases on the platform. 

Latin Americans are also turning to crypto to fill gaps in the region’s banking systems, using stablecoins for daily payments, savings and cheaper remittances that avoid SWIFT’s high fees.

As the CEO of crypto exchange Bybit’s Latin American division told Cointelegraph in October,  “Crypto is actually changing the lives of people” in the region.

Magazine: Ethereum’s Fusaka fork explained for dummies: What the hell is PeerDAS?

Thu, 20/11/2025 - 15:59

Ripple CEO Brad Garlinghouse reacts to XRP's milestone day in the US as asset manager Bitwise's XRP ETF with ticker $XRP begins trading on the NYSE.

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

It is a big day for XRP in the U.S. as another pure-play 33 Act XRP ETF launches in the U.S. In a recent tweet, asset manager Bitwise informed the crypto community that the Bitwise XRP ETF with ticker $XRP began trading on the NYSE this morning. With the launch, investors are afforded another new way to get spot exposure to XRP.

The Bitwise XRP ETF launch comes exactly a week following Canary Capital's XRP ETF XRPC, which saw its debut on Nov. 13.

In a tweet, Ripple CEO Brad Garlinghouse reacted to the milestone. Congratulating Bitwise on the ETF launch, the Ripple CEO added: "The pre-thanksgiving rush (shall we say turkey trot) for XRP ETFs starts now."

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A couple of XRP ETFs are anticipated in the coming days. Bloomberg Intelligence analyst James Seyffart predicts that next week might be eventful as the Grayscale and Franklin Templeton U.S. ETFs are expected to go live on Nov. 24.

Seyffart wrote in a tweet: "Our base case is that Grayscale's XRP ETF will go live on Monday the 24th. So will the Grayscale Dogecoin ETF. And I think the Franklin Templeton's XRP ETF could go live on Monday the 24th as well." He added, "Lots happening next week."

XRP breaking barriersCanary Capital’s XRPC, the first U.S. XRP spot exchange-traded fund (ETF), marked an impressive debut last Thursday with $58.5 million in trading volume, which is the highest for any ETF launched this year across more than 900 fund launches, according to Bloomberg's ETF analyst Eric Balchunas.

The volume edged out Bitwise’s Solana ETF (BSOL), which recorded $57 million on its first day, suggesting institutional interest in the XRP token.

The market is closely watching the performance of the new Bitwise XRP ETF in light of this. XRP remains in the spotlight, attracting increasing social interest.

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Dogecoin shows a hidden bearish divergence, with price making a lower high while RSI makes a higher high, hinting the downtrend still has room.Long-term holders are distributing fast, with over 237 million DOGE sold in ten days, a 280% jump in selling pressure.Dogecoin price chart leans bearish unless key levels flip, with $0.150 as support and $0.163 as the line that must break to reach $0.186.Dogecoin (DOGE) is trading near $0.156, down almost 19% over the past month and 11% in the past week. While a few large-cap coins are trying to build early recovery signs, the Dogecoin price is doing the opposite. The trend still tilts lower, and the signals forming on the chart and on-chain point to weakness rather than relief.

The short-term structure shows why the Dogecoin (DOGE) price weakness may continue before any meaningful upside can develop.

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The clearest problem sits in the momentum data. Between Nov. 15 and Nov. 18, the Dogecoin price made a lower high, but the RSI made a higher high. RSI, or Relative Strength Index, measures whether buying or selling pressure is strong. When RSI climbs while the price makes a lower high, it forms a hidden bearish divergence.

Traders treat this as a continuation warning, meaning the existing downtrend still has room.

DOGE Prints A Bearish Divergence: TradingViewWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

This weakness becomes more convincing when you look at long-term DOGE holders. Glassnode’s Hodler Net Position Change shows how many coins held for more than 155 days are moving. These wallets usually sell only when conviction collapses.

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On Nov. 9, long-term holders were distributing about 62.35 million DOGE. By Nov. 19, that figure had grown to 237.20 million DOGE. That is a sharp increase of nearly 175 million DOGE in ten days, a 280% jump. This reflects a clear rise in long-term selling pressure.

HODLers Keep Dumping: GlassnodeTaken together, momentum is weakening, and holders with strong hands are stepping back. That combination makes short-term rebounds easy to fade. All while exposing downside risks.

Dogecoin Price Faces More Downside Unless Key Levels BreakThe Dogecoin price continues to lean lower along its trend structure, so the next supports come from the trend-based projection levels. The first important level sits at $0.150, which has repeatedly acted as a short-term floor. Losing this support could push the price toward $0.140 and even $0.127 if broader market sentiment softens.

On the upside, the Dogecoin price needs to reclaim $0.163 to pause the bearish pattern. A clean move above $0.163 would shift momentum enough to target $0.186, the next major resistance on the chart. Until that happens, the downtrend remains intact, and every bounce carries the risk of fading.

Dogecoin Price Analysis: TradingViewFor now, the overall picture stays simple. The trend is negative, the momentum favors sellers, and long-term holders are still distributing. Unless Dogecoin starts reclaiming key levels, the DOGE price trend is likely to continue — just not in the direction Long traders are hoping for.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Crypto pundit Andrea has shared a 3-month scenario for Bitcoin that shows the flagship crypto could suffer a massive crash. This crash is expected to follow BTC’s rebound and an end-of-year rally to new highs. 

Pundit Projects Bitcoin Crash To $60,000 After Rebound To New Highs
In an X post, Andrea shared an accompanying chart showing that Bitcoin could eventually crash to $60,000, with the crash expected sometime in mid-2026. However, before then, the crypto pundit predicted that BTC could still rally to new highs despite its recent crash below the psychological $100,000 level. 

Specifically, he revealed a potential three-month scenario for Bitcoin, stating that he expects an end-of-year rally to at least $115,000-$116,000. The crypto pundit added that if BTC can break that level, then it could push towards $135,000 and $140,000, which will mark new all-time highs (ATHs) for the flagship crypto. 

Source: Chart from Andrea on X
However, Andrea stated that the peculiarity of this pump will be with a dropping BTC dominance, with altcoins outperforming the flagship crypto. This analysis comes amid Bitcoin’s most recent crash below $90,000, which marked a seven-month low for BTC. Notably, veteran trader Peter Brandt has predicted that this decline could extend further, with the flagship crypto dropping to as low as $58,000. 

Brandt questioned whether Bitcoin’s sweeping reversal on November 11, followed by 8 days of lower highs and the completion of a massive broadening top, qualifies as a bear market. He added that the targets implied are $81,000 and $58,000. The veteran trader also remarked that those who claim they will be big buyers at $58,000 will be pukers by the time BTC reaches $60,000. 

BTC Suffers A Breakdown Of The Megaphone Pattern
Crypto analyst Colin revealed that Bitcoin has broken down from the megaphone pattern. He noted that without a quick recovery in the next day or two, this would suggest that BTC is entering a bear market. He opined that this bear market may be less intense due to diminishing returns and diminishing losses each cycle. 

The analyst reiterated that if the Bitcoin price can reclaim the 50-week moving average before the week is over, it could signal a bullish outlook for the flagship crypto. However, until then, he remarked that it is better to assume that a bear market or bigger correction is the most likely scenario. Colin also raised the possibility of BTC following the ISM (business cycle) higher in a big move next year, after this corrective period. If that happens, then the bear market may be short-lived. 

At the time of writing, the Bitcoin price is trading at around $93,000, up almost 2% in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $92,278 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pngtree, chart from Tradingview.com

Solana Price Prediction has analyzed strong SOL ETF inflows, weaker price performance, softer onchain activity and a channel breakout test near $144, while also noting traders who have rotated toward SUBBD as an alternative narrative in the current market phase and risks below $130 support.