Market Signal Briefing

Capita PLC (LSE:CPI) received a boost after Shore Capital Markets initiated coverage of the UK outsourcing group with a Buy rating, arguing that the company’s turnaround plan could support a return to positive free cash flow and higher margins.

The broker set a fair value estimate of £5.30 a share, above the current price of 389p, and said the market was not yet pricing in the group’s full recovery potential.

Shore Capital said Capita’s strategy to return to growth and “ultimately positive cash flows” offered upside from what it described as a normalisation of the group’s profile after years of restructuring.

The analysts said the business was starting from low margins, which created operating leverage as fixed cash costs were absorbed, while a wide range of outcomes reflected both the risks and the opportunity.

Shore Capital said it expected Capita to transition to positive adjusted free cash flow from this year and to strengthen margins over the medium term as it converted its opportunity pipeline into firm orders.

The broker highlighted the Contact Centre division as central to the investment case, saying its recovery would be critical to delivering the group’s target of rebuilding adjusted operating margins to 6–8% from 4% in 2024.

If Capita succeeds in its plan, Shore Capital said adjusted operating profit could ultimately recover to £163m from £96m in 2024, with free cash flow returning to inflows after prolonged outflows.

The shares were flat at 375p.

NASHVILLE, Tenn.--(BUSINESS WIRE)--Atmus Filtration Technologies Inc. (Atmus; NYSE: ATMU), a global leader in the filtration industry, today announced the appointment of Heath Sharp to its Board of Directors.

“Sharp brings more than 30 years of hands-on leadership across manufacturing, product development and commercial execution, with a career built on scaling industrial businesses internationally,” said Steph Disher, CEO and President of Atmus. “As a seasoned global industrial leader, Sharp joins the Board during a key time when we are well positioned for Atmus’ next phase of growth.”

Sharp currently serves as Chief Executive Officer and Managing Director of Reliance Worldwide Corporation, where he has led the company’s evolution from a regionally focused manufacturer into a global, publicly listed leader in water control systems and plumbing solutions.

“We’re excited to welcome Heath Sharp to the Atmus Board at a moment when operational excellence and smart, global execution matter more than ever,” said Steve Macadam, Chair of the Atmus Board of Directors. “Heath is a proven industrial operator and engineer who has spent decades building manufacturing capability, advancing product innovation and scaling a business internationally. His perspective is shaped by leading teams across multiple markets and will be a strong complement to the Board as Atmus continues to expand its global footprint and execute on its long‑term growth strategy.”

For Atmus, Sharp’s background offers a practical, operator’s perspective on building global platforms, particularly in areas that matter most to the Company today: manufacturing excellence, product innovation and disciplined commercial expansion. His experience leading teams across Australia, the United States and the United Kingdom brings valuable insight into operating effectively across diverse markets and cultures.

“Atmus has a clear purpose and a strong platform, and I’m impressed by the company’s focus on building capabilities in innovation, manufacturing strength and customer-driven execution at a global scale,” said Sharp. “I look forward to working with the Board and leadership team to help Atmus continue to grow and deliver for customers and shareholders.”

With Sharp’s appointment, the Atmus Board has increased from seven to eight directors. He will serve as a Class III director through the Company’s next Annual Meeting of Stockholders and has been named to the Board’s Audit Committee and Nominating and Governance Committee.

About Atmus Filtration Technologies Inc.

Atmus Filtration Technologies Inc. (Atmus; NYSE: ATMU) is a global leader in filtration and media solutions. With more than 65 years of innovation and engineering expertise to deliver high-performance filtration solutions, Atmus operates through two business segments: Power Solutions, which serves global on-and-off highway equipment markets through its trusted Fleetguard® brand; and Industrial Solutions, which addresses high-growth end markets – including commercial and industrial HVAC, data centers and power generation environments – through its Koch Filter® brand. Headquartered in Nashville, Tenn., Atmus employs nearly 5,000 people worldwide who are committed to creating a better future by protecting what is important. Learn more at https://www.atmus.com.

More News From Atmus Filtration Technologies Inc.

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

Company Participants

Essi Nikitin - Vice President of Investor Relations
Heikki Vuorenmaa - Chairman of Group Management Team, CEO, President & Interim EVP of Residential Finland Segment
Markus Pietikainen - Interim CFO, Member of Group Management Team and SVP, Treasury and M&A

Conference Call Participants

Svante Krokfors - Nordea Markets, Research Division
Anssi Raussi - SEB, Research Division

Presentation

Essi Nikitin
Vice President of Investor Relations

Hi, everyone. Welcome to YIT's Financial Statements Bulletin 2025 Webcast. My name is Essi Nikitin, and I'm heading the Investor Relations at YIT. The results will be presented to you by our CEO, Heikki Vuorenmaa; and Interim CFO, Markus Pietikainen.

Without further ado, I will hand over to Heikki to go through the latest developments in the company. Please go ahead, Heikki.

Heikki Vuorenmaa
Chairman of Group Management Team, CEO, President & Interim EVP of Residential Finland Segment

Thank you very much, Essi, and welcome, everyone, to today's webcast. Today, we will have a comprehensive agenda ahead of us. First, we review our full year '25 performance. Then we will take the deep dive into the fourth quarter and following up on providing some additional details regarding the news related to earlier today.

But let's begin with the overview of the full year. So the first year of our strategy that we introduced 2024 is now behind. We made progress across the several targets, areas, including our adjusted operating profit margin, return on capital employed, gearing and the customer and employee NPS levels.

Our financial position continued to strengthen. It was supported by improved financing terms and EUR 120 million reduction in the net debt. The business segments delivered different types of performance throughout the year.

In the Residential Finland, the inventory of unsold

MIAX Exchange Group reports 25.1% year-over-year increase in multi-list options ADV

, /PRNewswire/ -- Miami International Holdings, Inc. (MIAX) (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today reported January 2026 trading results for its U.S. exchange subsidiaries — MIAX®, MIAX Pearl®, MIAX Emerald® and MIAX Sapphire® (collectively, the MIAX Exchange Group), and MIAX Futures™.

January 2026 Highlights

MIAX Exchange Group average daily volume (ADV) reached 11.1 million contracts, a 25.1% year-over-year (YoY) increase and a 20.6% increase from December 2025 MIAX Exchange Group market share reached 17.6%, a 5.5% increase YoY and a 2.8% increase from December 2025 MIAX Futures ADV reached 7,359 contracts, a 51.9% increase from December 2025 Additional MIAX Exchange Group and MIAX Futures trading volume and market share information is included in the table below. Summary statistics including trading volume and market share by business segment, as well as rolling three-month average revenue per contract and capture rates are available on the MIAX website at https://ir.miaxglobal.com/volume-rpc-reports.

Average Daily Trading Volume (ADV) (1)

Year-to-Date Comparison

Jan-26

Jan-25

% Chg

Dec-25

% Chg

Jan-26

Jan-25

% Chg

U.S. Multi-list Options

Trading Days

20

20

22

20

20

U.S. Equity Options Industry ADV (000's)

63,025

53,135

18.6 %

53,703

17.4 %

63,025

53,135

18.6 %

MIAX Exchange Group Options ADV (000's)

11,100

8,870

25.1 %

9,201

20.6 %

11,100

8,870

25.1 %

MIAX Exchange Group Options Market Share

17.6 %

16.7 %

5.5 %

17.1 %

2.8 %

17.6 %

16.7 %

5.5 %

U.S. Equities

U.S. Equities Industry ADV (Millions)

19,436

15,438

25.9 %

15,879

22.4 %

19,436

15,438

25.9 %

MIAX Pearl ADV (Millions)

161

195

-17.3 %

120

34.6 %

161

195

-17.3 %

MIAX Pearl Market Share

0.8 %

1.3 %

-34.3 %

0.8 %

9.9 %

0.8 %

1.3 %

-34.3 %

MIAX Futures Exchange 

Trading Days

20

21

22

20

21

MIAX Futures ADV

7,359

15,577

-52.8 %

4,843

51.9 %

7,359

15,577

-52.8 %

1)  Calculated as total volume for the period divided by total trading days for the period.

About MIAX
Miami International Holdings, Inc. (NYSE: MIAX) is a technology-driven leader in building and operating regulated financial markets across multiple asset classes and geographies. MIAX operates eight exchanges across options, futures, equities and international markets including MIAX® Options, MIAX Pearl®, MIAX Emerald®, MIAX Sapphire®, MIAX Pearl Equities™, MIAX Futures™, The Bermuda Stock Exchange (BSX) and The International Stock Exchange (TISE). MIAX also owns Dorman Trading, a full-service Futures Commission Merchant. To learn more about MIAX, please visit www.miaxglobal.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are based on management's current expectations and are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Additional risks and uncertainties that may cause actual results to differ materially include the risks and uncertainties listed in Miami International Holdings, Inc.'s (together with its subsidiaries, the Company) public filings with the Securities and Exchange Commission. In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise.

All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company's use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

MIAX Contacts:

Investors
[email protected] 

Media
[email protected] 

SOURCE MIAX

Here are three stocks with buy rank and strong income characteristics for investors to consider today, February 6

JOYY Inc. (JOYY - Free Report) : This social media platform company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.2% the last 60 days.

This Zacks Rank #1 company has a dividend yield of 6.2%, compared with the industry average of 0.0%.

Washington Trust Bancorp, Inc. (WASH - Free Report) : This bank holding company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.3% the last 60 days.

This Zacks Rank #1 company has a dividend yield of 6.1%, compared with the industry average of 2.4%.

Citizens & Northern Corporation (CZNC - Free Report) : This bank holding company for Citizens & Northern Bank has witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.1% the last 60 days.

This Zacks Rank #1 company has a dividend yield of 4.7%, compared with the industry average of 2.4%.

See the full list of top ranked stocks here.

Find more top income stocks with some of our great premium screens.

HomeStock IdeasLong IdeasConsumer 

SummaryEthan Allen Interiors remains resilient amid inflation and housing headwinds, leveraging operational efficiency and robust liquidity.ETD targets affluent homeowners, enabling pricing power and stable retail net sales despite weaker order volumes and macro challenges.A strong balance sheet with zero debt and high cash reserves supports sustainable dividends, with a 5.7% regular dividend yield and potential for special payouts.I reiterate my buy rating, as valuation offers upside and technicals show early signs of rebound despite prevailing bearish trends.Morsa Images/DigitalVision via Getty Images

It has been nearly four months since my previous coverage of Ethan Allen Interiors Inc. (ETD). From my cautious stance before, I was a bit too early to shift to an optimistic approach. The stock

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

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

VANCOUVER, British Columbia, Feb. 06, 2026 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQB: KNTNF) deeply regrets to report that on February 3, 2026, a contractor supporting roadwork activities near the Kumian Creek Contractor Camp, located approximately 1.5 km NE of the process plant and 8 km NE of the underground mine, suffered a fatal injury following an isolated incident on surface.

K92 Mining’s Emergency Services responded immediately to the incident, and the appropriate authorities were notified. A comprehensive investigation is underway by the contractor and relevant authorities, with full support from K92. K92 has temporarily paused this contractor’s activities at site to facilitate this process. K92 is working closely with its contractors and employees to provide the necessary support and counselling during this extremely challenging time. Safety and adherence to industry best practices remain K92’s highest priorities.

Underground mining and processing activities have not been impacted, and minimal impact is expected to project construction timelines.

John Lewins, K92 Chief Executive Officer and Director, stated, “On behalf of K92 Mining, we are deeply saddened by this incident and we extend our heartfelt sympathies and sincere condolences to the family, friends, and colleagues of the deceased during this extremely difficult time.”

About K92

K92 Mining Inc. is engaged in the production of gold, copper and silver at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The Company declared commercial production from Kainantu in February 2018, is in a strong financial position, and is working to become a Tier 1 mid-tier producer through ongoing plant expansions. A maiden resource estimate on the Blue Lake copper-gold porphyry project was completed in August 2022. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.

On Behalf of the Company,

John Lewins, Chief Executive Officer and Director

For further information, please contact David Medilek, P.Eng., CFA, President and Chief Operating Officer at +1-604-416-4445

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements include, without limitation: (i) the results of the Kainantu Mine Definitive Feasibility Study, including the Stage 3 Expansion, a new standalone 1.2 million tonnes-per-annum process plant and supporting infrastructure; (ii) statements regarding the expansion of the mine and development of any of the deposits; (iii) the Kainantu Stage 4 Expansion, operating two standalone process plants, larger surface infrastructure and mining throughputs; and (iv) the potential extended life of the Kainantu Mine.

All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors, many of which are beyond our ability to control, that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, without limitation, Public Health Crises, including the epidemic or pandemic viruses; changes in the price of gold, silver, copper and other metals in the world markets; fluctuations in the price and availability of infrastructure and energy and other commodities; fluctuations in foreign currency exchange rates; volatility in price of our common shares; inherent risks associated with the mining industry, including problems related to weather and climate in remote areas in which certain of the Company’s operations are located; failure to achieve production, cost and other estimates; risks and uncertainties associated with exploration and development; uncertainties relating to estimates of mineral resources including uncertainty that mineral resources may never be converted into mineral reserves; the Company’s ability to carry on current and future operations, including development and exploration activities at the Arakompa, Kora, Judd and other projects; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the availability and costs of achieving the Stage 3 Expansion or the Stage 4 Expansion; the ability of the Company to achieve the inputs the price and market for outputs, including gold, silver and copper; failures of information systems or information security threats; political, economic and other risks associated with the Company’s foreign operations; geopolitical events and other uncertainties, such as the conflicts in Ukraine, Israel and Palestine; compliance with various laws and regulatory requirements to which the Company is subject to, including taxation; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions, including relationship with the communities in Papua New Guinea and other jurisdictions it operates; other assumptions and factors generally associated with the mining industry; and the risks, uncertainties and other factors referred to in the Company’s Annual Information Form under the heading “Risk Factors”.

Estimates of mineral resources are also forward-looking statements because they constitute projections, based on certain estimates and assumptions, regarding the amount of minerals that may be encountered in the future and/or the anticipated economics of production. The estimation of mineral resources and mineral reserves is inherently uncertain and involves subjective judgments about many relevant factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, Forward-looking statements are not a guarantee of future performance, and actual results and future events could materially differ from those anticipated in such statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause actual results to differ materially from those that are anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This global railcar leasing firm serves industrial clients with a diversified fleet and long-term asset management solutions.

GAMCO Investors, Inc. reduced its holding in GATX Corporation (GATX +0.84%), selling 28,902 shares in the fourth quarter for an estimated $4.76 million based on quarterly average pricing, according to a February 5 SEC filing.

What happenedAccording to a filing published February 5 GAMCO Investors, Inc. sold 28,902 shares of GATX Corporation (GATX +0.84%) in the fourth quarter. The estimated transaction value was approximately $4.76 million, calculated using the average unadjusted closing price for the quarter. The fund’s quarter-end position value in GATX declined by $11.28 million, a change driven by both share sales and fluctuations in the stock’s price.

What else to knowThis was a partial sale; GATX now comprises 1.95% of 13F reportable AUM.

Top five holdings after the filing:

NYSE:MLI: $214.36 million (2.1% of AUM)NYSE:GATX: $203.12 million (2.0% of AUM)NYSE:CR: $196.42 million (1.9% of AUM)NYSE:MSGS: $158.65 million (1.5% of AUM)NYSE:HRI: $158.28 million (1.5% of AUM)As of February 4, GATX shares were priced at $186.63, up 14.9% over the past year and well outperforming the S&P 500’s roughly 14% gain in the same period.

Company overviewMetricValueRevenue (TTM)$1.70 billionNet Income (TTM)$312.80 millionDividend Yield1.30%Price (as of 2/4/26)$186.63Company snapshotGATX Corporation leases railcars, locomotives, aircraft spare engines, and liquefied gas-carrying vessels; provides railcar maintenance and regulatory compliance services.The company generates revenue primarily through long-term leasing contracts and asset management for third parties, complemented by value-added maintenance and repair services.It serves customers in the petroleum, chemical, food/agriculture, and transportation sectors across North America and international markets.GATX Corporation is a leading global railcar leasing company with a fleet of railcars and a diversified portfolio of transportation assets. The company leverages its scale, asset expertise, and long-standing customer relationships to deliver reliable leasing solutions and ancillary services. Its strategic focus on asset utilization and operational efficiency supports consistent financial performance and positions it as a key partner to industrial and logistics clients worldwide.

What this transaction means for investorsPosition trimming at this stage says more about portfolio discipline than conviction loss. GATX has already delivered much of what long-term investors typically want from an asset-heavy compounder: visible cash flows, strong pricing power, and high utilization across its core fleets. Rail North America ended the third quarter with utilization near 99%, while renewal lease rates rose more than 22%, locking in longer-term cash flow visibility at attractive economics.

The business continues to throw off durable earnings even in a choppier macro environment. Through the first nine months of 2025, GATX generated $6.46 in diluted EPS and reaffirmed full-year guidance of $8.50 to $8.90. That consistency helps explain why the stock has quietly outperformed over the past year while many industrial peers have struggled to defend margins.

The sale also needs to be viewed in context. GATX remains one of the portfolio’s largest holdings at roughly 2% of reported assets, alongside other capital-intensive names with predictable cash flows. With all this in mind, the move here looks less like an exit and more like a rebalance after a solid performance. The firm is set to report full-year earnings later this month.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Mueller Industries. The Motley Fool recommends Herc. The Motley Fool has a disclosure policy.

The AI revolution is still in the early innings. That means there are plenty of opportunities still out there.

According to a recent report by UN Trade & Development (UNCTAD), it expects the global artificial intelligence (AI) market to hit $4.8 trillion by the end of 2033. Given the hundreds of billions of dollars being plowed into AI development right now, it's reasonable to think that the market could end up being even larger. That means that investing in the best AI exchange-traded funds (ETFs) still has plenty of upside potential.

Artificial intelligence stocks had a big year in 2025. Even though they've come down somewhat off their highs, two things are still clear: The industry has a lot of growth ahead of it, and there are still opportunities to invest.

The ETF marketplace has several good options to choose from that provide varying methods of getting exposure to the sector. Let's break down some of the biggest and best.

Image source: Getty Images.

Global X Robotics & Artificial Intelligence ETF The Global X Robotics & Artificial Intelligence ETF (BOTZ 2.29%) has more of an industrial tilt than you will find in other AI ETFs. Its more specific focus on robotics means you get less exposure to the Magnificent Seven stocks and more to global manufacturers.

At roughly 10 years old, this fund was one of the first to offer some degree of AI exposure. Although others have come along since then, focused more on the semiconductor and software sides of the industry, the Global X ETF's theme is a bit narrower and, therefore, provides better diversification than other similar funds.

Today's Change

(

-2.29

%) $

-0.84

Current Price

$

35.77

First Trust Nasdaq Artificial Intelligence & Robotics ETF The First Trust Nasdaq Artificial Intelligence & Robotics ETF (ROBT 2.95%) tracks an index of AI and robotics companies that it categorizes as either "enablers," "engagers," or "enhancers."

Enablers make the building block components, such as machinery or semiconductors. Engagers are the companies that design or create the products, software, or systems. Enhancers provide value-added services to the ecosystem, but don't necessarily create their own products. About 60% of the portfolio is dedicated to the engagers. That gives the fund a robotics tilt, but not as much as in the Global X fund.

NASDAQ: ROBTFirst Trust Exchange-Traded Fund VI - First Trust Nasdaq Artificial Intelligence And Robotics ETF

Today's Change

(

-2.95

%) $

-1.49

Current Price

$

49.00

Roundhill Generative AI & Technology ETF The Roundhill Generative AI & Technology ETF (CHAT 1.82%) offers a bit more of a targeted take on the sector by betting that generative AI specifically can be used for "significantly boosting enterprise productivity, efficiency, and decision-making."

The fund only invests in about 50 companies and is actively managed. That gives it the ability to remain nimble and adjust as market conditions change, an advantage in such a rapidly evolving market. The top five holdings -- Alphabet (GOOG 0.60%)(GOOGL 0.20%), Nvidia (NVDA 1.35%), Microsoft (MSFT 4.98%), Amazon (AMZN 4.36%), and Meta Platforms (META +0.22%) -- are very familiar to tech investors. That makes it potentially not a whole lot different than investing in a diversified tech ETF, but with a 0.75% expense ratio -- the highest of the five.

WisdomTree Artificial Intelligence & Innovation ETF The WisdomTree Artificial Intelligence & Innovation ETF (WTAI 1.86%) goes for broader AI exposure. It targets companies "offering artificial intelligence (AI) technologies and contributing to the development and deployment of AI innovations."

Although it does a fairly good job of targeting some of the biggest AI businesses, it runs into some of the same issues as the Roundhill ETF. It has nearly 75% of its assets in U.S. companies, and five of the Magnificent Seven companies are in its top 10 holdings. That means comparatively less exposure to the global AI ecosystem and more reliance on a continued rally for U.S. mega-cap tech.

iShares AI Innovation & Tech Active ETF The iShares AI Innovation & Tech Active ETF (BAI 0.55%) is a relatively new entrant, having only launched in late 2024. But the iShares name brand has helped make it one of the largest, at about $8.6 billion in assets.

This fund is also actively managed and generally has a more concentrated portfolio (currently about 40 stocks). It too is focused on the U.S. mega-cap companies right now, including Nvidia, Broadcom (AVGO +0.80%), and Alphabet. I think the active management piece is preferable when investing in AI stocks, and this fund does a fairly good job of covering the bases. Still, it feels like there's some potential from overseas that's being missed out on.

Herc Holdings delivers equipment rental and specialty solutions to construction, industrial, and commercial clients nationwide.

On Feb. 5, GAMCO Investors reported selling 34,492 shares of Herc Holdings (HRI +1.73%) in a fourth-quarter SEC filing, an estimated $4.73 million trade based on quarterly average pricing.

What happenedAccording to its SEC filing dated Feb. 5, GAMCO Investors sold 34,492 shares of Herc Holdings (HRI +1.73%) during the fourth quarter. The estimated trade size was $4.73 million, based on average closing prices for the quarter. The value of the Herc Holdings stake, meanwhile, increased by $29.81 million in the period, reflecting both the share reduction and price changes (with shares up more than 25% in the period).

What else to knowFollowing the sale, Herc Holdings represents 1.52% of GAMCO’s reportable U.S. equity AUM.

Top five holdings after the filing:

NYSE:MLI: $214.36 million (2.1% of AUM)NYSE:GATX: $203.12 million (2.0% of AUM)NYSE:CR: $196.42 million (1.9% of AUM)NYSE:MSGS: $158.65 million (1.5% of AUM)NYSE:HRI: $158.28 million (1.5% of AUM)As of Feb. 4, shares of Herc Holdings were priced at $169.38, down 15.4% over the past year and well underperforming the S&P 500’s roughly 14% gain in the same period.

Company overviewMetricValuePrice (as of Feb. 4)$169.38Market capitalization$5.73 billionRevenue (TTM)$3.88 billionDividend yield1.62%Company snapshotHerc Holdings provides equipment rental services, including aerial, earthmoving, material handling, trucks, trailers, and specialty solutions such as power generation, climate control, and remediation equipment.The company generates revenue primarily through short- and long-term equipment rentals, ancillary services (repair, maintenance, equipment management, safety training), and sales of used equipment and contractor supplies.It serves a diverse customer base across non-residential and residential construction, specialty trades, industrial manufacturing, infrastructure, government, and commercial facility sectors.Herc Holdings is a leading equipment rental provider with a broad portfolio of products and services tailored to construction, industrial, and specialty markets. The company leverages its extensive branch network and value-added services to support contractors, industrial clients, and institutional customers. Its scale and focus on solution-based offerings provide a competitive advantage in meeting complex project needs and driving recurring revenue streams.

What this transaction means for investorsHerc sits at the intersection of infrastructure spending, fleet scale, and operational leverage, which helps explain why it continues to command a meaningful spot alongside GAMCO’s other industrial and asset-heavy holdings like GATX and Mueller Industries.

Operationally, the latest quarterly results reinforced that thesis. Equipment rental revenue climbed 30% year over year to $1.12 billion, pushing total revenue up 35% to $1.30 billion. Adjusted EBITDA rose 24% to $551 million, even as margins compressed due to acquisition integration costs tied to H&E Equipment Services. That pressure looks temporary; management completed full IT integration during the quarter and reaffirmed full-year guidance, signaling confidence that synergies and utilization improvements are still ahead.

The sale itself appears more like portfolio housekeeping than a shift in conviction. Herc still represents roughly the same weight as other core GAMCO positions, so exposure was effectively just reduced and certainly not abandoned. With shares down more than 15% over the past year despite accelerating revenue and reaffirmed guidance, the disconnect is notable. But ultimately, Herc remains a scaled operator benefiting from infrastructure demand and fleet economics, even as short-term integration noise creates volatility.

American Express is an advertising partner of Motley Fool Money. Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Mueller Industries. The Motley Fool recommends Herc. The Motley Fool has a disclosure policy.

, /PRNewswire/ -- Vision Marine Technologies Inc. (NASDAQ: VMAR) ("Vision Marine" or the "Company"), an electric marine technology company specializing in high-voltage marine propulsion, together with its recently acquired retail network, Nautical Ventures, an award-winning Florida-based dealership group, today announced the development of Project Pelagos, an AI-driven customer intelligence and revenue operations platform for its marine retail subsidiary, Nautical Ventures, an award-winning dealership network operating across Florida.

Project Pelagos is being designed to strengthen execution, coordination, and customer experience across the Nautical Ventures retail network by embedding artificial intelligence directly into sales and aftersales operations. Built on an enterprise CRM foundation and enhanced with a proprietary AI and data orchestration layer, the platform is intended to support improved prioritization, greater operational visibility, and more coordinated customer management workflows.

Pelagos is designed to connect traditionally disconnected systems—including Dealer Management Software (DMS), multiple MLS platforms, ticketing systems, and team communications—into a single, behavior-aware environment. The objective is to accelerate revenue execution, improve customer experience, and bring clarity and coordination across sales and aftersales operations.

As Vision Marine continues to integrate Nautical Ventures into a vertically integrated model—combining technology, retail, service, and customer access—Project Pelagos represents a key component of the Company's AI-enabled operational infrastructure. The initiative reflects the Company's focus on scalability, execution discipline, and building internal systems capable of supporting growth across an expanding retail footprint.

"Marine retail has historically relied on fragmented systems that force teams to manually interpret customer signals," said Diego Conti, General Sales Manager at Nautical Ventures. "Project Pelagos is being built with AI at its core to surface intent, reduce noise, and support more consistent decision-making across teams. The goal is not automation for its own sake, but better decisions and a more coherent customer experience across the network."

Unlike traditional CRM platforms that primarily store data, Project Pelagos is being designed as an AI-assisted customer intelligence layer. By analyzing engagement patterns across inquiries, listings, communications, and service requests, the platform is intended to support opportunity prioritization, improve internal handoffs, and reduce delays caused by disconnected workflows—while preserving human judgment where it matters most.

From an investor perspective, the integration of AI within customer operations aligns with Vision Marine's broader strategy of improving operating leverage within its retail platform. By reducing manual processes and increasing visibility into customer demand and execution bottlenecks, the Company expects the platform to support more efficient sales execution and more consistent performance as the Nautical Ventures network scales.

"AI is becoming a foundational capability for modern operating platforms," said Alexandre Mongeon, Chief Executive Officer of Vision Marine. "Project Pelagos reflects our intent to apply intelligence and structure to how customer relationships are managed across Nautical Ventures. This is about building durable internal systems that support disciplined execution and long-term scalability."

Project Pelagos is currently in active development, with a phased rollout planned across Nautical Ventures' sales and customer operations during 2026.

About Vision Marine Technologies Inc.

Vision Marine Technologies Inc. (NASDAQ: VMAR) is a marine company focused on delivering a better on-water experience through the integration of technology, retail, and service. The Company designs and develops high-voltage electric marine propulsion systems and, following the acquisition of Nautical Ventures, operates a vertically integrated retail and service platform in the United States. Vision Marine's strategy centers on combining proprietary electric propulsion technology with scalable market access across established boating segments.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. Vision Marine undertakes no obligation to update or revise any forward-looking statements, except as required by law.

SOURCE Vision Marine Technologies, Inc

February 06, 2026 05:01 ET  | Source: Shell plc

Shell plc

Outcome of audit tender process

February 6, 2026

Shell plc (the Company) announces that, following the conclusion of a competitive audit tender process initiated at the beginning of Q4 2025 and led by the Audit and Risk Committee, the Board has approved the proposed appointment of Pricewaterhouse Coopers LLP ("PwC") as its external auditor to take effect from, and including, the financial year ending December 31, 2027. The appointment is subject to shareholder approval at the Company’s 2027 Annual General Meeting.

EY will continue in its role as external auditor for the financial year ending 31 December 2026, subject to shareholder approval at the Company’s 2026 Annual General Meeting.

Notes to editors

During the past two years, only unqualified reports on the Company’s consolidated financial statements or effectiveness of internal control over financial reporting were issued by EY and there were no disagreements with EY related to accounting matters, financial statement disclosure, or their audit.The audit tender participants were informed of the tender outcome on February 5, 2026.  Further details of the audit tender process will be provided in the Company's 2025 Annual Report and Accounts and Form 20-F. Enquiries

Shell Media Relations

International, UK, European Press: +44 (0)20 7934 5550

Indonesian President Prabowo Subianto attends the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 22, 2026. REUTERS/Denis Balibouse/File Photo Purchase Licensing Rights, opens new tab

CompaniesJAKARTA, Feb 6 (Reuters) - A prominent Indonesian comedian who became the first from his country to air a special on Netflix was summoned by police on Friday over what they called public complaints about the material he used in his stand-up act.

Pandji Pragiwaksono's show appeared on Netflix on December 27 and included satirical comments on Indonesian politics and democracy, including the 2024 election.

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The election was won by former military general Prabowo Subianto, who has now become president of the world's most populous Muslim-majority country.

Pragiwaksono also criticised Indonesia's two largest Muslim organisations, Nahdlatul Ulama and Muhammadiyah, for receiving a mining concession from the government when Joko Widodo, known as Jokowi, was still president. Jokowi's son was Prabowo's running mate, and went on to become vice president.

The nearly two-and-a-half-hour show has divided opinion in Indonesia. Some have accused the comedian of insulting religious entities and state institutions, while democracy activists have defended him.

"Yes, today we are clarifying several things based on five police reports," Andaru Rahutomo, spokesperson for Jakarta police, told Reuters, confirming that Pragiwaksono was in their custody. Pragiwaksono has not been formally charged.

Two of the five police reports were filed by members of the youth wings of Nahdlatul Ulama and Muhammadiyah, complaining that the comedian had committed blasphemy and defamed their organisations.

Both organisations denied affiliation with the people who filed the police reports.

"We came here for clarification... He (Pragiwaksono) is already here, perhaps he can share his version of the story with the police," Haris Azhar, Pragiwaksono's lawyer, said before the hour-long interrogation began.

Reporting by Ananda Teresia; editing by Gibran Peshimam and Mark Heinrich

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

Goldman Sachs has been working with the artificial intelligence startup Anthropic to create AI agents to automate a growing number of roles within the bank, the firm's tech chief told CNBC exclusively.

The bank has, for the past six months, been working with embedded Anthropic engineers to co-develop autonomous agents in at least two specific areas: accounting for trades and transactions, and client vetting and onboarding, according to Marco Argenti, Goldman's chief information officer.

The firm is "in the early stages" of developing agents based on Anthropic's Claude model that will collapse the amount of time these essential functions take, Argenti said. He expects to launch the agents "soon," though he declined to provide a specific date.

"Think of it as a digital co-worker for many of the professions within the firm that are scaled, are complex and very process intensive," he said.

Goldman Sachs CEO David Solomon said in October that his bank was embarking on a multi-year plan to reorganize itself around generative AI, the technology that has made waves since the arrival of OpenAI's ChatGPT in late 2022. Even as investment banks like Goldman are experiencing surging revenue from trading and advisory activities, the bank will seek to "constrain headcount growth" amid the overhaul, Solomon said.

The news from Goldman, a leading global investment bank, comes as model updates from Anthropic, co-founded by a former OpenAI executive, have sparked a sharp selloff among software firms and their credit providers as investors wager on who the winners and losers from the AI trade will be.

watch now

Goldman began last year by testing an autonomous AI coder called Devin, which is now broadly available to the bank's engineers. But it quickly found that Anthropic's AI model could work in other parts of the bank, said Argenti. 

"Claude is really good at coding," Argenti said. "Is that because coding is kind of special, or is it about the model's ability to reason through complex problems, step by step, applying logic?"

Argenti said the firm was "surprised" at how capable Claude was at tasks besides coding, especially in areas like accounting and compliance that combine the need to parse large amounts of data and documents while applying rules and judgment, he said.

Now, the view within Goldman is that "there are these other areas of the firm where we could expect the same level of automation and the same level of results that we're seeing on the coding side," he said.

The upshot is that, with the help of the agents in development, clients will be onboarded faster and issues with trade reconciliation or other accounting matters will be solved faster, Argenti said.

Goldman could next develop agents for tasks like employee surveillance or making investment banking pitchbooks, he said. 

While the bank employs thousands of people in the compliance and accounting functions where AI agents will soon operate, Argenti said that it was "premature" to expect that the technology will lead to job losses for those workers.

Still, Goldman could cut out third-party providers it uses today as AI technology matures, he said.

"It's always a tradeoff," Argenti said. "Our philosophy right now is that we're injecting capacity, which in most cases will allow us to do things faster, which translates to a better client experience and more business."

Packages travel on a conveyor at the Amazon's fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2023. REUTERS/Mike Segar Purchase Licensing Rights, opens new tab

Feb 6 (Reuters) - Amazon (AMZN.O), opens new tab shares dropped 8% in premarket trading on Friday after the company's hefty capital expenditure plans deepened investor worries over Big Tech's spending spree on artificial intelligence.

Massive AI spending by companies - estimated to be more than $600 billion this year - have raised doubts among investors over the prospects of immediate returns from the huge capital outlays.

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They also fear that rapidly improving AI tools could eat into demand for traditional software, squeezing profit margins, resulting in a broader selloff across the tech sector.

Amazon's capex spending plans are expected to reach $200 billion in 2026. Alphabet (GOOGL.O), opens new tab said its capex could double from a year ago, while Meta (META.O), opens new tab and Microsoft (MSFT.O), opens new tab has ramped up their spending plans.

"While the rising capital intensity is not a surprise directionally, the magnitude of the spend is materially greater than consensus expected," MoffettNathanson analysts said in a note.

In contrast to Alphabet's confident tone on its spending plans, Amazon CEO Andy Jassy struck a defensive note during the post-earnings investor call.

"As a reminder," said Jassy, referring to the results of cloud platform Amazon Web Services, "it's very different having 24% year-over-year growth on $142 billion annualized run rate, than to have a higher-percentage growth on a meaningfully smaller base, which is the case with our competitors."

AWS revenue grew to $35.6 billion in the December quarter, while Google (GOOGL.O), opens new tab Cloud grew 48% to $17.75 billion. Microsoft's (MSFT.O), opens new tab Azure surged 39% in the same period.

"We do not think they would be spending $200B in FY26 if they did not have the appropriate demand signals, but the margin of error is shrinking," MoffettNathanson analysts said.

At least five brokerages have reduced their price targets on the stock following results. Amazon trades at a price-to-earnings ratio of 27.01, compared with Microsoft's 21.62 and Alphabet's 28.36.

Tech giants collectively expected to spend at least $630 billion this year on AIReporting by Kanchana Chakravarty in Bengaluru

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

The river cruise leader has some big competition from an industry giant.

Royal Caribbean (RCL 0.78%) is set to launch a river cruise business through its upscale Celebrity brand, and demand has been so strong that the cruise line doubled its expected fleet size from 10 ships to 20. Should longtime river cruise leader Viking (VIK 2.93%) and its investors be worried?

*Stock prices used were the morning prices of Feb. 3, 2026. The video was published on Feb.4, 2026.

Matt Frankel, CFP has no position in any of the stocks mentioned. Rick Munarriz has positions in Royal Caribbean Cruises and Viking. The Motley Fool recommends Viking. The Motley Fool has a disclosure policy.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of APA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

HomeIndustriesShare prices of Glencore and Rio stumble after disappointmentPublished: Feb. 6, 2026 at 5:32 a.m. ET

A merger between Glencore and Rio Tinto would have created the world's largest mining company. Photo: Getty ImagesThe decision by Rio Tinto and Glencore to abandon merger talks now has analysts divided on the companies’ prospects in what JPMorgan has called “the age of critical minerals.”

Talks between Rio Tinto and Glencore to create the world’s largest mining company were abandoned after they couldn’t reach a deal by a Feb. 5 deadline set by a U.K. regulator. The two sides were unable to agree on valuations with Glencore’s statement alleging Rio’s offer  wasn’t in the best terms of its shareholders and failed to reflect its long-term value.

U.S. stock futures advanced on Friday following Thursday's sharp sell-off. Futures of major benchmark indices were higher.

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, February 6

Washington Trust Bancorp, Inc. (WASH - Free Report) : This bank holding company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.3% over the last 60 days.

Washington Trust Bancorp has a PEG ratio of 0.76 comparedwith 1.84 for the industry. The company possesses a Growth Scoreof B.

Ciena Corporation (CIEN - Free Report) : This critical digital infrastructure technologies company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 20.2% over the last 60 days.

Ciena has a PEG ratio of 1.15 compared with 5.61 for the industry. The company possesses a Growth Score of A.

MKS Inc. (MKSI - Free Report) : This semiconductor technology solutions company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.6% over the last 60 days.

MKS's General Stores has a PEG ratio of 1.53 compared with 2.21 for the industry. The company possesses a Growth Score of B.

See the full list of top ranked stocks here.

Learn more about the Growth score and how it is calculated here.

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

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

Analyst’s Disclosure: I/we have a beneficial long position in the shares of VET either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

Alphabet's modest sell-off after its Q4 update presents a great buying opportunity.

Picky, picky. That's my take on investors selling Alphabet (GOOG 0.60%) (GOOGL 0.20%) stock after the company reported stellar fourth-quarter results on Wednesday, Feb. 4, 2026.

The good news about the Google parent's surging revenue and profits was overshadowed by its higher projected spending on artificial intelligence (AI). Alphabet's share price fell moderately on Thursday amid concerns about higher capital expenditures.

Is the selling warranted? I don't think so. Here are five reasons to buy this AI stock on the dip.

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1. AI investments are already delivering returns Anyone wondering whether Alphabet's AI investments are paying off need only look at the company's Q4 numbers. CFO Anat Ashkenazi stated in the earnings call, "The investments we have been making in AI are already translating into strong performance across the business as you've seen in our financial results." Yes, they are.

While Alphabet plans to spend even more on AI this year ($175 billion to $185 billion), I expect the additional investment will also deliver solid returns. It's essential to keep in mind where the money is going, including supporting cutting-edge research by Google DeepMind, improving the user experience to boost advertisers' return on investment, and meeting soaring demand for cloud services. It would be a mistake if management weren't investing more in these areas.

2. Google Cloud is booming Speaking of soaring demand for cloud services, Alphabet's Google Cloud business is booming. Revenue for the unit skyrocketed by 48% year over year in the fourth quarter to $17.7 billion. Google Cloud ended 2025 with an annual revenue run rate of $70 billion.

Is Google Cloud's growth in jeopardy of slowing anytime soon? I don't think so. Alphabet reported a cloud backlog of $240 billion at the end of the year, more than double the level from the end of 2024 and up 55% from the end of the third quarter of 2025.

The business is also more profitable than ever. Google Cloud's operating margin jumped from 17.5% in 2024 Q4 to 30.1% in the recent quarter.

3. Google Search growth is poised to accelerate Some doomsayers proclaimed that generative AI would be an existential threat to Google Search after OpenAI launched ChatGPT in late 2022. Those predictions have fallen flat on their face, to put it mildly.

Image source: Getty Images.

Google Search's revenue increased 16.7% year over year in Q4 to $63.1 billion. Alphabet CEO Sundar Pichai said in the quarterly update this week that Google Search usage in Q4 was higher than ever. I suspect that Google Search's growth is even poised to accelerate as, in Pichai's words, "AI continues to drive an expansionary moment."

4. Alphabet's financials are outstanding It takes money to make money. And Alphabet has a lot of money. The company ended 2025 with a cash position of $126.8 billion. Its annual revenue topped $400 billion for the first time last year.

Increasing AI capital expenditures won't cramp Alphabet's style, either. The tech giant generated $24.6 billion of free cash flow in the fourth quarter alone. Alphabet can afford additional AI-related spending.

5. Two growth opportunities ahead Google Cloud and Google Search remain the most important growth drivers for Alphabet. However, I think investors should keep an eye on two other growth opportunities.

First, Apple (AAPL 0.11%) is using Google's Gemini to develop its next-generation foundation AI models. Its next version of the Siri AI assistant will integrate with Gemini. Neither Apple nor Alphabet have revealed the financial terms of their collaboration. However, I expect the partnership with Apple will significantly boost Alphabet's revenue going forward.

Second, Alphabet owns several businesses known as its "Other Bets." Self-driving car technology company Waymo is the most promising member of the group right now. The robotaxi market has tremendous potential -- and Waymo is the leader in this market.

PARIS--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed agreements to acquire a 42.5% operated interest in PEL104 Exploration license, located offshore Namibia, from Eight Offshore Investments Holdings (“Eight”) and Maravilla Oil & Gas.

Upon completion of the transaction, TotalEnergies will be the operator of the license holding a 42.5% interest alongside Petrobras (42.5%), Namcor (10%) and Eight (5%).

Located in the Lüderitz basin, PEL104 license covers an area of around 11,000 km2 offshore Namibia.

“After the acquisition in December of a 40% operated interest in PEL83 license, TotalEnergies further strengthens its position in Namibia by entering this new exploration license as operator. While progressing towards the development of Venus and Mopane discoveries, we are very pleased to expand our portfolio and continue exploring the prolific resources of Namibia, in order to unlock further value that will benefit the country and all stakeholders”, stated Nicolas Terraz, President Exploration & Production at TotalEnergies.

Completion of the transaction is subject to customary third party approvals from the Namibian authorities and joint ventures partners.

***

About TotalEnergies in Namibia
TotalEnergies has been present in Namibia since 1964 and employs 55 people. TotalEnergies is also the 4th largest fuel distributor in the country, with 43 service stations. In line with its multi-energy strategy, the Company is looking for local opportunities to develop low carbon projects in the country.

About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

@TotalEnergies TotalEnergies TotalEnergies TotalEnergies

Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

D-Wave shareholders are betting on a company that has very little sales and that operates in an unproven market.

It's hard to ignore the long list of quantum computing stocks that have been on a tear over the past few years. One company that's benefited from all of the quantum computing hype -- because a lot of it is hype -- is D-Wave Quantum (QBTS 14.45%).

D-Wave's returns of 1,600% over the past three years are hard to ignore. But I think the recent gains are masking a significant risk for investors. Here's why.

Image source: Getty Images.

Significant quantum computing sales are years away When a company's share price is rocketing so high and so fast, some investors don't want to look at the hard truths about the company or the market it's competing in. In this case, the risk many people are ignoring is the fact that D-Wave generates hardly any revenue, and it could be years before quantum computing companies see any meaningful sales.

D-Wave recently reported its third-quarter results, and the company had just $3.7 million in sales. That's obviously a very small amount, but it looks even worse when we put it into the context of D-Wave's net loss of $140 million under generally accepted accounting principles (GAAP). This means that the gap between D-Wave's revenue and losses is very significant, and it could be years before it comes close to closing it.

While there are plenty of optimistic investors who believe that quantum computing sales will catch up with spending soon, I'm not so sure. Even big tech players like Alphabet -- which has developed its own quantum computing processor and made breakthroughs in quantum algorithms -- believe that significant commercial sales are still five to 10 years away. And management at Rigetti Computing has said that the company won't have commercial sales for three to five years.

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Making matters worse for D-Wave -- and its shareholders -- is the fact that quantum computing requires significant investments in technology and research that don't come cheap. The result of this pushed D-Wave's operating expenses up 40% in the third quarter to $30.4 million. While the company does have $836 million in cash reserves to continue funding research and keep the lights on, the ramp-up in spending means that this pile of cash may not be as large as it seems right now.

D-Wave's expensive stock doesn't help, either D-Wave's costs are rising quickly, it has significant losses, it has minimal sales, and the quantum computing market likely still has several more years to go before significant commercial sales materialize.

All this should be enough for investors to realize that D-Wave's stock is very risky. But if you need a little more convincing, consider that its massive share price returns mean that its stock now has a price-to-sales (P/S) ratio of 280 -- compared to the tech sector's average P/S ratio of just 9. That's risky indeed.

Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.