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From Feb 2024 to Apr 2025, Google $GOOGL (incl. DeepMind) filed 140 U.S. patent apps in agentic AI—70% more than $NVDA (80), and well ahead of IBM (61), Intel (43), and Microsoft (42).
Agentic AI filings are up 56% YoY. https://t.co/aq0P23JL9t
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From Feb 2024 to Apr 2025, Google $GOOGL (incl. DeepMind) filed 140 U.S. patent apps in agentic AI—70% more than $NVDA (80), and well ahead of IBM (61), Intel (43), and Microsoft (42).
Agentic AI filings are up 56% YoY. https://t.co/aq0P23JL9t
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$BABA | Alibaba Q4 FY2025 Earnings Highlights
🔹 Revenue: ¥236.45B (Est. ¥237.91B) 🔴; +7% YoY
🔹 Adj EPS: ¥12.52 (Est. ¥12.81) 🔴; +23% YoY
Segment Revenue (Q4):
🔸 Cloud Intelligence Group: ¥30.13B; UP +18% YoY
🔸 Taobao & Tmall Group: ¥101.37B; UP +9% YoY
🔹 Customer Management Revenue: ¥71.08B; UP +12% YoY
🔹 Direct Sales & Others: ¥24.50B; DOWN -1% YoY
🔸 Alibaba International Digital Commerce: ¥33.58B; UP +22% YoY
🔹 Retail: ¥27.60B; UP +24% YoY
🔹 Wholesale: ¥5.98B; UP +16% YoY
🔸 Cainiao Logistics: ¥21.57B; DOWN -12% YoY
🔸 Local Services Group: ¥16.13B; UP +10% YoY
🔸 Digital Media & Entertainment: ¥5.55B; UP +12% YoY
🔸 All Others: ¥53.99B; UP +5% YoY
Segment EBITA (Q4):
🔹 Taobao & Tmall Group: ¥41.75B; UP +8% YoY
🔹 Alibaba International Digital Commerce: -¥3.57B; loss narrowed YoY
🔹 Cloud Intelligence Group: ¥2.42B; UP +69% YoY
🔹 Cainiao Logistics: -¥606M; loss narrowed YoY
🔹 Local Services: -¥2.32B; loss narrowed YoY
🔹 Digital Media & Entertainment: ¥36M profit vs. loss YoY
🔹 All Others: -¥2.54B; loss narrowed YoY
Other Key Metrics:
🔹 Adj. EBITDA: ¥41.78B; UP +36% YoY
🔹 Operating Income: ¥28.47B; UP +93% YoY
🔹 Net Income: ¥11.97B; UP +1203% YoY
🔹 Net Income Attributable to Shareholders: ¥12.38B; UP +279% YoY
🔹 Net Cash from Operating Activities: ¥27.52B; UP +18% YoY
🔹 Free Cash Flow: ¥3.74B; DOWN -76% YoY
Dividend and Shareholder Returns:
🔹 Total Share Repurchase FY25: $11.9B (5.1% net reduction in shares)
🔹 Declared Total Dividend: $2.00 per ADS (Regular $1.05 + Special $0.95)
🔹 Aggregate Payout: ~$4.6B
CEO Eddie Wu Commentary:
🔸 "Core business growth is accelerating, driven by AI adoption and strong cloud momentum. AI-related product revenue grew triple-digits for the 7th straight quarter."
CFO Toby Xu Commentary:
🔸 "We delivered 7% revenue growth and 36% EBITA growth. Share repurchases and special dividends reflect our commitment to shareholder value."
Cloud & AI Strategic Commentary:
🔸 Alibaba Cloud named Emerging Leader in all four GenAI categories by Gartner.
🔸 Launched Qwen3 open-source AI models, including MoE architectures for hybrid reasoning.
🔸 AI product revenue continues triple-digit YoY growth across verticals including retail, manufacturing, and media.
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$BABA | Alibaba Q4 FY2025 Earnings Highlights
🔹 Revenue: ¥236.45B (Est. ¥237.91B) 🔴; +7% YoY
🔹 Adj EPS: ¥12.52 (Est. ¥12.81) 🔴; +23% YoY
Segment Revenue (Q4):
🔸 Cloud Intelligence Group: ¥30.13B; UP +18% YoY
🔸 Taobao & Tmall Group: ¥101.37B; UP +9% YoY
🔹 Customer Management Revenue: ¥71.08B; UP +12% YoY
🔹 Direct Sales & Others: ¥24.50B; DOWN -1% YoY
🔸 Alibaba International Digital Commerce: ¥33.58B; UP +22% YoY
🔹 Retail: ¥27.60B; UP +24% YoY
🔹 Wholesale: ¥5.98B; UP +16% YoY
🔸 Cainiao Logistics: ¥21.57B; DOWN -12% YoY
🔸 Local Services Group: ¥16.13B; UP +10% YoY
🔸 Digital Media & Entertainment: ¥5.55B; UP +12% YoY
🔸 All Others: ¥53.99B; UP +5% YoY
Segment EBITA (Q4):
🔹 Taobao & Tmall Group: ¥41.75B; UP +8% YoY
🔹 Alibaba International Digital Commerce: -¥3.57B; loss narrowed YoY
🔹 Cloud Intelligence Group: ¥2.42B; UP +69% YoY
🔹 Cainiao Logistics: -¥606M; loss narrowed YoY
🔹 Local Services: -¥2.32B; loss narrowed YoY
🔹 Digital Media & Entertainment: ¥36M profit vs. loss YoY
🔹 All Others: -¥2.54B; loss narrowed YoY
Other Key Metrics:
🔹 Adj. EBITDA: ¥41.78B; UP +36% YoY
🔹 Operating Income: ¥28.47B; UP +93% YoY
🔹 Net Income: ¥11.97B; UP +1203% YoY
🔹 Net Income Attributable to Shareholders: ¥12.38B; UP +279% YoY
🔹 Net Cash from Operating Activities: ¥27.52B; UP +18% YoY
🔹 Free Cash Flow: ¥3.74B; DOWN -76% YoY
Dividend and Shareholder Returns:
🔹 Total Share Repurchase FY25: $11.9B (5.1% net reduction in shares)
🔹 Declared Total Dividend: $2.00 per ADS (Regular $1.05 + Special $0.95)
🔹 Aggregate Payout: ~$4.6B
CEO Eddie Wu Commentary:
🔸 "Core business growth is accelerating, driven by AI adoption and strong cloud momentum. AI-related product revenue grew triple-digits for the 7th straight quarter."
CFO Toby Xu Commentary:
🔸 "We delivered 7% revenue growth and 36% EBITA growth. Share repurchases and special dividends reflect our commitment to shareholder value."
Cloud & AI Strategic Commentary:
🔸 Alibaba Cloud named Emerging Leader in all four GenAI categories by Gartner.
🔸 Launched Qwen3 open-source AI models, including MoE architectures for hybrid reasoning.
🔸 AI product revenue continues triple-digit YoY growth across verticals including retail, manufacturing, and media.
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Mizuho Downgrades $CRWD to Neutral from Outperform, Says Valuation Now Crowded, Maintains PT at $425
Analyst comments: "Very consistently throughout CRWD's nearly six-year tenure as a publicly traded company, this has been one of our favorite stocks. Our initial thesis—that CRWD would very successfully extend beyond its initial focus on endpoint protection—has long been proven, and we believe CRWD remains very well positioned for future growth.
That said, our recent CRWD checks have moderated while some potential risk factors have emerged, and yet the shares have remained remarkably robust, now trading above our $425 price target. As such, we are downgrading our rating on CRWD to Neutral from Outperform and recommend waiting for a better entry point."
Analyst: Gregg Moskowitz
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Mizuho Downgrades $CRWD to Neutral from Outperform, Says Valuation Now Crowded, Maintains PT at $425
Analyst comments: "Very consistently throughout CRWD's nearly six-year tenure as a publicly traded company, this has been one of our favorite stocks. Our initial thesis—that CRWD would very successfully extend beyond its initial focus on endpoint protection—has long been proven, and we believe CRWD remains very well positioned for future growth.
That said, our recent CRWD checks have moderated while some potential risk factors have emerged, and yet the shares have remained remarkably robust, now trading above our $425 price target. As such, we are downgrading our rating on CRWD to Neutral from Outperform and recommend waiting for a better entry point."
Analyst: Gregg Moskowitz
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TRUMP SAYS MY 2026 BUDGET INCLUDES SUBSTANTIAL PAY RAISES FOR SERVICE MEMBERS https://t.co/TeTXYcdrMe
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TRUMP SAYS MY 2026 BUDGET INCLUDES SUBSTANTIAL PAY RAISES FOR SERVICE MEMBERS https://t.co/TeTXYcdrMe
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DICK’S confirms $FL acquisition in a $2.4B deal, offering shareholders $24/share or 0.1168 $DKS. Foot Locker will operate as a standalone unit. The combined company aims to drive global growth, unlock $100–125M in cost synergies, and boost EPS in year one post-close. Deal expected to close H2 2025.
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DICK’S confirms $FL acquisition in a $2.4B deal, offering shareholders $24/share or 0.1168 $DKS. Foot Locker will operate as a standalone unit. The combined company aims to drive global growth, unlock $100–125M in cost synergies, and boost EPS in year one post-close. Deal expected to close H2 2025.
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EMIRATES IN TALKS WITH MUSK'S SPACEX TO GET STARLINK ON FLIGHTS https://t.co/WrKCljyBL2
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EMIRATES IN TALKS WITH MUSK'S SPACEX TO GET STARLINK ON FLIGHTS https://t.co/WrKCljyBL2
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Deere $DE trims the low end of its FY net income forecast to $4.75B–$5.5B (was $5.0B–$5.5B), citing global trade uncertainty despite easing tariffs. Q2 EPS came in at $6.64, down from $8.53 Y/Y. Ag equipment sales beat, but construction lagged. Farmers still facing pressure from weak crop prices.
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Deere $DE trims the low end of its FY net income forecast to $4.75B–$5.5B (was $5.0B–$5.5B), citing global trade uncertainty despite easing tariffs. Q2 EPS came in at $6.64, down from $8.53 Y/Y. Ag equipment sales beat, but construction lagged. Farmers still facing pressure from weak crop prices.
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$WMT | Walmart Q1'26 Earnings Highlights
🔹 Revenue: $165.6B; UP +2.5% YoY (Est. $166B) 😐
🔹 Adj EPS: $0.61 (Est. $0.58) 🟢
🔹 CFO says price hikes from tariffs could start later this month
🔸 No specific EPS or operating income guidance provided due to macro uncertainty
FY26 Guidance (Unchanged):
🔹 Net Sales Growth (cc): +3.0% to +4.0%
🔹 Adj. Operating Income Growth (cc): +3.5% to +5.5%
🔹 Adjusted EPS: $2.50 to $2.60
🔹 Effective Tax Rate: ~23.5% to 24.5%
🔹 Capital Expenditures: ~3.0% to 3.5% of net sales
Q2 FY26 Guidance:
🔹 Net Sales Growth (cc): +3.5% to +4.5%
🔸 Includes ~20 bps benefit from VIZIO acquisition
🔸 No specific EPS or operating income guidance provided due to macro uncertainty
Other Key Q1 Metrics:
🔹 Operating Income: $6.3B; UP +4.3% YoY (Adj. UP +3.0% cc)
🔹 Gross Margin Rate: UP +12 bps YoY
🔹 Operating Cash Flow: $5.4B; UP +$1.2B YoY
🔹 Free Cash Flow: $0.4B; UP +$0.9B YoY
🔹 Return on Assets (ROA): 7.5%
🔹 Return on Investment (ROI): 15.3%; UP +30 bps YoY
🔹 Share Repurchases: $4.6B (50.4M shares)
🔹 Cash & Cash Equivalents: $9.3B
🔹 Total Debt: $52.9B
🔹 Inventory: $57.5B; UP +3.8% YoY
Segment Performance:
Walmart U.S.:
🔹 Net Sales: $112.2B; UP +3.2% YoY
🔹 Comp Sales (ex-fuel): UP +4.5%
🔹 eCommerce Sales: UP +21% YoY
🔹 Operating Income: $5.7B; UP +7.0% YoY
🔹 Adjusted Operating Income: $5.7B; UP +4.4% YoY
🔸 Strongest growth in health & wellness and grocery
🔸 31% YoY growth in Walmart Connect (advertising)
🔸 Gross Profit Rate: UP +25 bps
🔸 Operating expense deleverage of 8 bps
🔸 eCommerce momentum led by store pickup/delivery and marketplace
Walmart International:
🔹 Net Sales (cc): $32.1B; UP +7.8% YoY
🔹 Reported Net Sales: $29.8B (flat YoY; currency headwind of $2.4B)
🔹 Operating Income (cc): $1.4B; DOWN -6.4% YoY
🔹 Reported Operating Income: $1.3B; DOWN -17.5% YoY
🔸 Growth led by China, Flipkart, Walmex
🔸 eCommerce Sales: UP +20% YoY
🔸 Advertising growth led by Flipkart
🔸 Strategic investments impacted margins
Sam’s Club U.S.:
🔹 Net Sales (ex-fuel): $19.7B; UP +5.5% YoY
🔹 Comp Sales (ex-fuel): UP +6.7%
🔹 eCommerce Sales: UP +27% YoY (delivery UP ~160%)
🔹 Operating Income: $0.7B; UP +11.5% YoY
🔸 Growth driven by grocery, health & wellness, and general merchandise
🔸 Membership Income: UP +9.6% YoY
🔸 Growth in member counts, renewals, and Plus membership
Advertising Business:
🔹 Global Advertising Revenue: UP +50% YoY
🔸 U.S. Walmart Connect: UP +31% YoY
🔸 Flipkart-led growth in International advertising
CEO Doug McMillon's Commentary:
🔸 "We delivered a solid first quarter in a dynamic operating environment. We’re serving customers and members in more ways, which is fueling our growth. We’re well positioned, maintaining flexibility to navigate the near-term while continuing to invest to create value for the long-term."
CFO John David Rainey's Commentary:
🔸 "Given the dynamic nature of the backdrop, and the range of near-term outcomes being exceedingly wide and difficult to predict, we felt it best to hold from providing a specific range of guidance for operating income growth and EPS for the second quarter."
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$WMT | Walmart Q1'26 Earnings Highlights
🔹 Revenue: $165.6B; UP +2.5% YoY (Est. $166B) 😐
🔹 Adj EPS: $0.61 (Est. $0.58) 🟢
🔹 CFO says price hikes from tariffs could start later this month
🔸 No specific EPS or operating income guidance provided due to macro uncertainty
FY26 Guidance (Unchanged):
🔹 Net Sales Growth (cc): +3.0% to +4.0%
🔹 Adj. Operating Income Growth (cc): +3.5% to +5.5%
🔹 Adjusted EPS: $2.50 to $2.60
🔹 Effective Tax Rate: ~23.5% to 24.5%
🔹 Capital Expenditures: ~3.0% to 3.5% of net sales
Q2 FY26 Guidance:
🔹 Net Sales Growth (cc): +3.5% to +4.5%
🔸 Includes ~20 bps benefit from VIZIO acquisition
🔸 No specific EPS or operating income guidance provided due to macro uncertainty
Other Key Q1 Metrics:
🔹 Operating Income: $6.3B; UP +4.3% YoY (Adj. UP +3.0% cc)
🔹 Gross Margin Rate: UP +12 bps YoY
🔹 Operating Cash Flow: $5.4B; UP +$1.2B YoY
🔹 Free Cash Flow: $0.4B; UP +$0.9B YoY
🔹 Return on Assets (ROA): 7.5%
🔹 Return on Investment (ROI): 15.3%; UP +30 bps YoY
🔹 Share Repurchases: $4.6B (50.4M shares)
🔹 Cash & Cash Equivalents: $9.3B
🔹 Total Debt: $52.9B
🔹 Inventory: $57.5B; UP +3.8% YoY
Segment Performance:
Walmart U.S.:
🔹 Net Sales: $112.2B; UP +3.2% YoY
🔹 Comp Sales (ex-fuel): UP +4.5%
🔹 eCommerce Sales: UP +21% YoY
🔹 Operating Income: $5.7B; UP +7.0% YoY
🔹 Adjusted Operating Income: $5.7B; UP +4.4% YoY
🔸 Strongest growth in health & wellness and grocery
🔸 31% YoY growth in Walmart Connect (advertising)
🔸 Gross Profit Rate: UP +25 bps
🔸 Operating expense deleverage of 8 bps
🔸 eCommerce momentum led by store pickup/delivery and marketplace
Walmart International:
🔹 Net Sales (cc): $32.1B; UP +7.8% YoY
🔹 Reported Net Sales: $29.8B (flat YoY; currency headwind of $2.4B)
🔹 Operating Income (cc): $1.4B; DOWN -6.4% YoY
🔹 Reported Operating Income: $1.3B; DOWN -17.5% YoY
🔸 Growth led by China, Flipkart, Walmex
🔸 eCommerce Sales: UP +20% YoY
🔸 Advertising growth led by Flipkart
🔸 Strategic investments impacted margins
Sam’s Club U.S.:
🔹 Net Sales (ex-fuel): $19.7B; UP +5.5% YoY
🔹 Comp Sales (ex-fuel): UP +6.7%
🔹 eCommerce Sales: UP +27% YoY (delivery UP ~160%)
🔹 Operating Income: $0.7B; UP +11.5% YoY
🔸 Growth driven by grocery, health & wellness, and general merchandise
🔸 Membership Income: UP +9.6% YoY
🔸 Growth in member counts, renewals, and Plus membership
Advertising Business:
🔹 Global Advertising Revenue: UP +50% YoY
🔸 U.S. Walmart Connect: UP +31% YoY
🔸 Flipkart-led growth in International advertising
CEO Doug McMillon's Commentary:
🔸 "We delivered a solid first quarter in a dynamic operating environment. We’re serving customers and members in more ways, which is fueling our growth. We’re well positioned, maintaining flexibility to navigate the near-term while continuing to invest to create value for the long-term."
CFO John David Rainey's Commentary:
🔸 "Given the dynamic nature of the backdrop, and the range of near-term outcomes being exceedingly wide and difficult to predict, we felt it best to hold from providing a specific range of guidance for operating income growth and EPS for the second quarter."
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Over half the money Americans spend on Chinese imports actually stays in the U.S. — 56%, vs. just 18% for goods from Europe. Local content like logistics, retail, and marketing captures a big chunk. https://t.co/kI8L9x5tgx
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Over half the money Americans spend on Chinese imports actually stays in the U.S. — 56%, vs. just 18% for goods from Europe. Local content like logistics, retail, and marketing captures a big chunk. https://t.co/kI8L9x5tgx
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WALMART $WMT CFO ON CNBC:
“We’re wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb... It’s more than any supplier can absorb & so I’m concerned that consumer is going to start seeing higher prices. You’ll begin to see that, likely towards the tail end of this month, and then certainly much more in June.”
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WALMART $WMT CFO ON CNBC:
“We’re wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb... It’s more than any supplier can absorb & so I’m concerned that consumer is going to start seeing higher prices. You’ll begin to see that, likely towards the tail end of this month, and then certainly much more in June.”
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Wolfe Research Upgrades $PINS to Outperform from Peerperform, Says Product Momentum and Valuation Support Upside, Sets PT at $40
Analyst comments: "We are upgrading PINS to Outperform with a $40 price target as we see: (i) macro overhang more muted than before; (ii) sustained core fundamentals from product improvements—most notably Performance+ (a 2–3 point growth contributor); (iii) third-party opportunity; and (iv) reasonable valuation for mid-teens percentage growth.
Our Outperform rating reflects the view that the performance ads product cycle is driving better advertiser attach rates, resulting in above-market growth in the mid-teens percentage range—suggesting share gains versus the broader digital market, which is growing in the low double digits. Current valuation remains undemanding at 13.5x 2026 EBITDA, a discount to the blended peer average for SNAP/TTD at 24.5x 2026 EBITDA, despite a similar growth profile.
Year-to-date, PINS shares have outperformed, up 13%, compared to SNAP (-16%), TTD (-33%), and mega caps META (+13%) and GOOGL (-13%). We expect continued outperformance based on the relative product cycle strength and valuation disconnect versus other sub-scale peers."
Analyst: Shweta Khajuria
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Wolfe Research Upgrades $PINS to Outperform from Peerperform, Says Product Momentum and Valuation Support Upside, Sets PT at $40
Analyst comments: "We are upgrading PINS to Outperform with a $40 price target as we see: (i) macro overhang more muted than before; (ii) sustained core fundamentals from product improvements—most notably Performance+ (a 2–3 point growth contributor); (iii) third-party opportunity; and (iv) reasonable valuation for mid-teens percentage growth.
Our Outperform rating reflects the view that the performance ads product cycle is driving better advertiser attach rates, resulting in above-market growth in the mid-teens percentage range—suggesting share gains versus the broader digital market, which is growing in the low double digits. Current valuation remains undemanding at 13.5x 2026 EBITDA, a discount to the blended peer average for SNAP/TTD at 24.5x 2026 EBITDA, despite a similar growth profile.
Year-to-date, PINS shares have outperformed, up 13%, compared to SNAP (-16%), TTD (-33%), and mega caps META (+13%) and GOOGL (-13%). We expect continued outperformance based on the relative product cycle strength and valuation disconnect versus other sub-scale peers."
Analyst: Shweta Khajuria
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