Boyd Gaming (NYSE:BYD): Strongest Q3 Results from the Casino Operator Group

Investing.com -- European stocks closed mostly higher on Tuesday, with key regional developments including a jump in Novo Nordisk shares after the drugmaker secured regulatory approval for its GLP-1 obesity pill, and fresh data showing a decline in Tesla’s European sales in November.

The DAX index in Germany and the FTSE 100 in the U.K. both climbed 0.2%, while the CAC 40 in France fell 0.2%.

Europe round up 

Novo Nordisk’s Wegovy pill gets FDA approval

Novo Nordisk A/S (NYSE:NVO) said that the U.S. Food and Drug Administration has approved its Wegovy pill as the first oral glucagon-like peptide-1 (GLP-1) receptor agonist for weight management.

The once-daily oral semaglutide 25 mg pill is approved to reduce excess body weight, maintain weight reduction long-term, and reduce the risk of major adverse cardiovascular events.

Tesla Europe sales contract in November, BYD gains market share

Tesla Inc’s (NASDAQ:TSLA) sales in Europe declined in November while Chinese competitor BYD Co Ltd-H (HK:1211) recorded strong growth and expanded its market share in the region.

Tesla’s sales across the European Union, the Euro Free Trade Association and the UK dropped 11.8% year-on-year to 22,801 units in November, according to data released Tuesday by the European Automobile Manufacturers’ Association.

The American electric vehicle maker’s market share in the region fell to 2.1% from 2.5% a year earlier. Despite the annual decline, Tesla’s November market share represented an improvement from the 0.6% recorded in October.

Meanwhile, BYD posted significant year-on-year growth in the European market, continuing to strengthen its position in the region’s electric vehicle sector.

Norway’s oil output exceeds forecast in November

Norway’s oil production averaged 1.882 million barrels per day in November 2025, surpassing the Norwegian Offshore Directorate’s forecast by 4.3%, according to preliminary figures released Tuesday.

The total petroleum production reached 2.09 million barrels per day, which includes oil, natural gas liquids (NGL), and condensate. NGL contributed 190,000 barrels per day to the total, while condensate added 19,000 barrels daily.

Gas sales for November amounted to 10.8 billion standard cubic meters (GSm3), representing an increase of 0.4 GSm3 compared to October’s figures.

Cevian Capital raises stake in Akzo Nobel

Activist investor Cevian Capital has increased its stake in Dutch paint manufacturer Akzo Nobel NV (AS:AKZO) to 10.15%, according to a filing published Tuesday by the Dutch market regulator AFM.

The filing revealed that the Cevian Capital II GP fund owned the increased stake in the Dulux paints maker as of December 19.

This represents a significant increase in Cevian’s position in the Dutch company, though the filing did not disclose the investor’s previous ownership level.

Ryanair fined €255 million by Italian regulator for market abuse

Italy’s Competition Authority has imposed a fine of over €255 million on Ryanair DAC and its parent company Ryanair Holdings PLC (LON:0RYA) for abusing its dominant market position to obstruct travel agencies.

The penalty comes after an investigation determined that Ryanair had implemented an abusive strategy against both online and traditional travel agencies. The anti-competitive practices occurred over a two-year period, starting in April 2023 and continuing through at least April 2025.

The Italian regulator found that the airline had used its market dominance to hinder travel agencies’ operations, though specific details of the abusive tactics were not provided in the announcement.

Investing.com -- European stocks traded mixed in early Tuesday dealings, with key regional developments including a jump in Novo Nordisk shares after the drugmaker secured regulatory approval for its GLP-1 obesity pill, and fresh data showing a decline in Tesla’s European sales in November.

As of 08:08 GMT, DAX index in Germany climbed 0.1%, the CAC 40 in France fell 0.07% and the FTSE 100 in the U.K. was flat.

Europe round up 

Novo Nordisk’s Wegovy pill gets FDA approval

Novo Nordisk A/S (NYSE:NVO) said that the U.S. Food and Drug Administration has approved its Wegovy pill as the first oral glucagon-like peptide-1 (GLP-1) receptor agonist for weight management.

The once-daily oral semaglutide 25 mg pill is approved to reduce excess body weight, maintain weight reduction long-term, and reduce the risk of major adverse cardiovascular events.

Tesla Europe sales contract in November, BYD gains market share

Tesla Inc’s (NASDAQ:TSLA) sales in Europe declined in November while Chinese competitor BYD Co Ltd-H (HK:1211) recorded strong growth and expanded its market share in the region.

Tesla’s sales across the European Union, the Euro Free Trade Association and the UK dropped 11.8% year-on-year to 22,801 units in November, according to data released Tuesday by the European Automobile Manufacturers’ Association.

The American electric vehicle maker’s market share in the region fell to 2.1% from 2.5% a year earlier. Despite the annual decline, Tesla’s November market share represented an improvement from the 0.6% recorded in October.

Meanwhile, BYD posted significant year-on-year growth in the European market, continuing to strengthen its position in the region’s electric vehicle sector.

Norway’s oil output exceeds forecast in November

Norway’s oil production averaged 1.882 million barrels per day in November 2025, surpassing the Norwegian Offshore Directorate’s forecast by 4.3%, according to preliminary figures released Tuesday.

The total petroleum production reached 2.09 million barrels per day, which includes oil, natural gas liquids (NGL), and condensate. NGL contributed 190,000 barrels per day to the total, while condensate added 19,000 barrels daily.

Gas sales for November amounted to 10.8 billion standard cubic meters (GSm3), representing an increase of 0.4 GSm3 compared to October’s figures.

Cevian Capital raises stake in Akzo Nobel

Activist investor Cevian Capital has increased its stake in Dutch paint manufacturer Akzo Nobel NV (AS:AKZO) to 10.15%, according to a filing published Tuesday by the Dutch market regulator AFM.

The filing revealed that the Cevian Capital II GP fund owned the increased stake in the Dulux paints maker as of December 19.

This represents a significant increase in Cevian’s position in the Dutch company, though the filing did not disclose the investor’s previous ownership level.

Ryanair fined €255 million by Italian regulator for market abuse

Italy’s Competition Authority has imposed a fine of over €255 million on Ryanair DAC and its parent company Ryanair Holdings PLC (LON:0RYA) for abusing its dominant market position to obstruct travel agencies.

The penalty comes after an investigation determined that Ryanair had implemented an abusive strategy against both online and traditional travel agencies. The anti-competitive practices occurred over a two-year period, starting in April 2023 and continuing through at least April 2025.

The Italian regulator found that the airline had used its market dominance to hinder travel agencies’ operations, though specific details of the abusive tactics were not provided in the announcement.

Investing.com-- Tesla Inc’s (NASDAQ:TSLA) Europe sales contracted in November, data showed on Tuesday, while Chinese rival BYD (HK:1211) logged strong year-on-year growth and a steadily increasing market share in the region.

Tesla’s sales in the European Union, the Euro Free Trade Association and the UK fell 11.8% year-on-year to 22,801 units in November, data from the European Automobile Manufacturers’ Association showed. 

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Tesla’s market share also contracted to 2.1% from 2.5% a year ago, but improved from the dismal 0.6% seen in the prior month.  

In contrast, BYD’s November sales surged 221.8% year-on-year to 21,133 units, while the Chinese automaker’s market share rose to 2% from 0.6% a year ago. BYD’s market share also improved from the 1.6% share seen in October. 

This came as overall new vehicle registrations in Europe rose 2.4% year-on-year to 1.08 million units, ACEA data showed. The rise was driven chiefly by improving sales of battery and hybrid electric vehicles, the latter of which also commanded the greatest share of the European market, at 34.6%. 

While Tesla’s sales in the region declined at a relatively smaller pace in November than that seen in prior months, they still reflected a sustained downturn for the EV maker, as it grappled with heightened competition from local and Chinese players.

Tesla was also still struggling to recover its brand image after CEO Elon Musk’s political actions alienated a large portion of the EV maker’s customer base earlier this year. 

BYD has become a main competitor to Tesla in Europe and China, with the automaker having shored up its European offerings this year. BYD was also well-received despite having to contend with high European import duties.

The Chinese automaker has put expanding into Europe and other regions at the top of its agenda, especially as sales slow in main market China. 

BYD also holds an edge over Tesla in that it sells the wildly popular hybrid category. Hybrids have become increasingly popular among cost-conscious consumers unwilling to pay the high asking price for a battery EV. 

Investing.com -- Chinese electric vehicle manufacturers continue to attract investor attention despite market volatility, with several standout performers emerging according to recent WarrenAI analysis using Investing Pro metrics.

If you want more top stock picks and premium analysis across all sectors, use WarrenAI by upgrading to InvestingPro -.

1. BYD Company Limited (SEHK:1211) stands as the clear sector leader, offering the strongest combination of growth, value, and quality fundamentals. Currently trading at HK$93.90, BYD shows significant upside potential with a fair value estimate suggesting 56.7% growth potential. The company’s impressive 24.8% return on equity and 14% EBITDA margin demonstrate financial strength unmatched by competitors. While experiencing a slight Q3 revenue decline (-3.1%), BYD’s 2024 revenue surge of 29% positions it as a cornerstone for long-term Chinese EV investment. Technical indicators suggest potential near-term improvement, with 5-minute and 15-minute signals recently shifting to "strong buy." The company’s international expansion, particularly in South Africa, further strengthens its growth narrative.

2. XPeng Inc (NYSE:XPEV) ranks second, presenting a high-growth but higher-risk profile. Trading at $18.60, XPeng has delivered remarkable 48.8% one-year returns and triple-digit revenue growth (101.8% in Q3). However, negative margins (EBITDA -11.2%) and ROE (-17.1%) highlight profitability challenges. XPeng’s international ambitions are evident through its new Malaysia plant and 95% overseas sales growth. Technical indicators show neutral 1-hour readings but "strong buy" signals in 30-minute timeframes, potentially attracting momentum traders.

3. NIO Inc (NYSE:NIO), priced at $4.93, represents a speculative turnaround opportunity. Despite concerning financials including a -143.8% ROE and negative EBITDA, recent EPS beats and a 14% one-year return suggest possible improvement. Analyst opinions remain divided, with price targets ranging from $3.00 (Barclays) to $8.10 (Citi). NIO’s projected 31% revenue growth for 2025 and 102.5% Q4 EPS growth forecast provide the foundation for its turnaround narrative.

4. Li Auto Inc (NASDAQGS:LI) rounds out the top performers at $16.19, though it shows concerning trends. Despite maintaining positive ROE (12.3%) and decent cash flow yield (10.7%), Li Auto faces significant headwinds including a -29% annual return, sharp earnings downgrades, and consistent "strong sell" technical signals. A 36.2% Q3 revenue drop and recent analyst downgrades further complicate its near-term outlook, despite a positive 24.9% analyst price target upside.

Chinese EV investors should weigh these metrics carefully when considering positions in this volatile but potentially rewarding sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Barclays said 2026 is likely to be another uneven year for global leisure, lodging and gaming, with performance increasingly driven by company specific factors and consumer value perception rather than a broad based recovery.

In its 2026 outlook, the bank said it favors digital gaming, cruise and regional gaming, is neutral on lodging overall, and remains cautious on Las Vegas. It upgraded Hyatt and Travel + Leisure to Equal Weight or higher, while downgrading MGM Resorts and Bally’s.

Barclays said a still tight consumer backdrop should lead to uneven demand across the sector. It expects digital gaming to outperform as hold improves and concerns around prediction markets fade, while cruise operators regain pricing power after near term Caribbean capacity pressure eases. By contrast, it sees Las Vegas facing a tougher road, with the value proposition at the middle and lower end hard to reset in the current macro environment.

Hyatt was upgraded to Overweight, with Barclays citing accelerating organic room growth, heavy exposure to higher end properties and a simplified business mix following the pending Playa real estate sale. The bank said Hyatt’s luxury and upper upscale focus positions it well for stronger blended RevPAR growth in 2026, helped by the World Cup and easier comparisons. It also flagged a wide valuation discount to peers despite faster unit growth, lifting its price target to $200.

Travel + Leisure was raised to Equal Weight as Barclays said execution has improved and timeshare trends appear stable. It highlighted better owner credit quality and the potential for lower reserve requirements to support EBITDA growth, while noting valuation already reflects much of the improvement.

Barclays downgraded MGM to Equal Weight, saying it has become less confident in the company’s near and medium term growth path. It pointed to soft leisure trends in Las Vegas, rising competition on the Strip and uncertainty around MGM’s digital strategy given its joint venture structure. While Macau remains a near term tailwind, the bank said increased competition could limit upside, and Japan remains too distant to anchor the investment case.

Bally’s was cut to Underweight on leverage and cash flow concerns tied to large scale development projects, particularly its planned New York casino. Barclays said funding needs and extended cash burn are likely to weigh on investor sentiment for some time.

Among its most favored names for 2026, Barclays highlighted Flutter Entertainment, Carnival and Churchill Downs, citing stronger positioning in digital gaming, cruise and regional gaming respectively.