Breakingviews-Elon Musk Engineers His Sky-High Meme Machine

Investing.com -- L3Harris Technologies Integrated Systems L.P. has been awarded a $95,573,639 cost-plus-fixed-fee contract by the U.S. Department of War for contractor logistics support.

The contract covers the sustainment of aircraft and ground stations, with work to be performed at the company’s Greenville, Texas facility. The project is expected to be completed by December 31, 2027.

This agreement involves Foreign Military Sales (FMS) and was secured through a sole source acquisition process. At the time of the award, FMS funds totaling $28,417,963 have been obligated.

The 645th Aeronautical Engineering Systems Group, based at Wright-Patterson Air Force Base in Ohio, is serving as the contracting activity for this project.

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

Investing.com -- Wells Fargo (NYSE:WFC) has approved a $40 million compensation package for Chairman and CEO Charlie Scharf for performance year 2025.

The decision was made by the independent members of the Board of Directors, following a recommendation from the Board’s Human Resources Committee after a comprehensive assessment of both company and individual performance.

Scharf’s compensation consists of a $2.5 million base salary and $37.5 million in variable compensation. The variable portion includes $9.375 million in cash and $28.125 million in long-term equity, with 65% in Performance Share awards and 35% in Restricted Share Rights awards.

The Board highlighted several achievements under Scharf’s leadership during 2025, including the closure of seven regulatory consent orders and the removal of the Federal Reserve’s asset cap. The bank also improved its financial performance, with net income reaching $21.3 billion and diluted earnings per share growing 17% year-over-year.

Wells Fargo reported a 5% increase in fee-based revenue across both consumer and commercial businesses, while maintaining disciplined expense management and making strategic investments in technology, products, and talent.

The bank returned approximately $23 billion of capital to shareholders, including an increase in quarterly common stock dividend per share by 13% and $18 billion in common stock repurchases. Return on equity improved to 12.4% in 2025, up from 11.4% in 2024.

Scharf, who has been CEO since October 2019, was appointed Chairman of the Board in October 2025. He brings more than 30 years of experience in the banking and payments industries, having previously served as CEO of Bank of New York Mellon and Visa Inc.

The bank has established a new medium-term return on average tangible common equity target of 17-18%.

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

After-hours movers:

Apple (AAPL) rose 1.8% after it published strong quarterly figures. “Today, Apple is proud to report a remarkable, record-breaking quarter, with revenue of $143.8 billion, up 16 percent from a year ago and well above our expectations,” said Tim Cook, Apple’s CEO.

Sandisk (SNDK) rose 14% after blowout quarterly results and guidance. Second quarter revenue was $3.03 billion, up 31% sequentially and above the guidance range.

Robinhood (HOOD) rose 3% after Bloomberg reported that the US is considering it as a trustee for ’Trump Accounts’ for children.

Western Digital (WDC) fell 3% despite beating consensus quarterly estimates, with expectations elevated heading into the print.

Deckers Brands (DECK) rose 15% after strong quarterly results and guidance. Deckers Brands reported Q3 EPS of $3.33, $0.57 better than the analyst estimate of $2.76. Revenue for the quarter came in at $1.96 billion versus the consensus estimate of $1.87 billion.

Investing.com -- Adidas AG (ETR:ADSGN) reported preliminary fourth-quarter results showing 10% currency-neutral growth, with 11% growth excluding Yeezy products, and a 90 basis points gross margin beat. As a result, the sportswear giant's Adidas AG ADR (OTC:ADDYY) shares rose 4% Thursday following the announcement.

Adidas also said it plans to buy back up to €1 billion worth of shares in 2026, starting in February. This marks the company's first share buyback program since 2022.

Adidas achieved an operating margin of 2.7% in the fourth quarter, representing a 170 basis points improvement year-over-year. While this margin was in line with expectations, the gross margin improved 100 basis points to 50.8%, beating forecasts by 90 basis points despite headwinds from higher tariffs and foreign exchange pressures.

The preliminary results show the Adidas brand achieved 13% currency-neutral growth for the full year, marking the second consecutive year at this level. This growth was driven by double-digit percentage increases across all markets and channels.

Morgan Stanley analysts called the fourth-quarter preliminary results "encouraging from both a quantitative and qualitative standpoint."

The company plans to finance the share buyback program through its strong cash flow generation, balance sheet strength, and management's confidence in the brand's future development. According to Bernstein, this corresponds to an up to ~10c boost to EPS.

Adidas will provide more detailed guidance during its full-year results presentation on March 4.