Essential Properties Realty Trust (EPRT) reported fourth-quarter results on February 11, 2026, with funds from operations (FFO) of $99.7 million, or 49 cents per share, matching analyst estimates. FFO, a key REIT performance metric, adjusts net income by adding back depreciation and amortization. The company posted net income of $68.1 million, or 34 cents per share, and revenue of $149.9 million, below the $151.6 million average forecast. For the year, FFO totaled $374.6 million, and revenue reached $561.2 million. Management guidance for full-year 2025 FFO is $1.99 to $2.04 per share.

Darling Ingredients Inc. (DAR) released Q4 results: reported earnings of $56.9 million and profit of 35 cents per share, or 64 cents per share after restructuring charges. Revenue reached $1.71 billion, beating the Zacks average forecast of $1.53 billion. Year-over-year, the company posted net income of $62.8 million, or 39 cents per share, on revenue of $6.14 billion.

Darling Ingredients (NYSE:DAR) reported Q4 CY2025 revenue of $1.71 billion, up 20.6% year on year, surpassing estimates. GAAP profit of $0.35 per share met consensus. Free cash flow margins averaged 8.9% over the past two years, outpacing the broader consumer staples sector.

The company attributed the strong print to operational discipline and sequential gross margin improvement, despite lower fat prices and a challenging year for Diamond Green Diesel. Revenue growth slowed to 1.8% for the next 12 months, below the sector average, and shares fell 3.1% to $48.01 following the results.

Darling Ingredients transforms animal by-products and used cooking oil into ingredients for food, feed, fuel, and industrial applications. It posted a 2.1% annual revenue decline over the last three years, but the latest quarter marked a significant beat on both revenue and EBITDA expectations.

Copa Holdings SA (CPA) reported fourth-quarter net income of $172.6 million, or $4.18 per share, and revenue of $962.9 million, both below analyst estimates of $4.44 per share and $967.6 million, respectively. Year-over-year results: profit of $671.6 million, or $16.28 per share, and revenue of $3.62 billion.

Closing prices as of 5:30 PM EST (23:30 UTC) on February 11, 2026:

- Dow Jones Industrial Average: 39,450.75 (-12.50 pts, -0.03%)

- S&P 500: 5,123.45 (-15.67 pts, -0.31%)

- NASDAQ Composite: 15,892.34 (-32.56 pts, -0.20%)

Variance remained narrow across major indices, with the S&P 500 underperforming the Dow and Nasdaq. The close follows a range-bound session, with volatility measured by the VIX at 18.42.

AppLovin (AMLOV) reported fourth-quarter sales of $1.66 billion, missing analysts' average estimate of $1.70 billion, as heightened competition and a cautious macroeconomic environment suppressed ad demand. The company's shares fell nearly 3% in extended trading.

Demand faced stiff competition from major tech advertisers and emerging platforms, intensifying bidding and compressing net margins. Analysts at Jefferies highlighted Meta Platforms' heavy investment in Apple's iOS traffic as a significant headwind.

Enterprise spending has slowed amid macroeconomic uncertainty, with companies prioritizing AI integration and mission-critical applications. AppLovin's fourth-quarter net income rose 84% to $1.10 billion. The company forecast first-quarter sales of $1.75 billion to $1.78 billion, above estimates of $1.67 billion.

Net loss for McGraw-Hill (MHS) widened to $128 million in Q3 2026, versus a $67 million loss in the same period of the previous year, according to the company's latest earnings report released February 11, 2026. The decline followed a 10% revenue contraction to $1.22 billion, driven by softer demand in professional and educational services. CFO Mark C. Reisch said the company is implementing cost optimization measures and expects a return to positive operating performance in the coming quarters.

Google (GOOGL) expands its AI shopping capabilities by integrating contextual ads and direct purchase options within its search engine and chatbots. The update, effective February 15, 2026, aims to streamline online shopping by enabling users to buy products directly from search results and chat interfaces. The integration is expected to boost e-commerce conversion and impact advertising revenue, with early tests showing a 12% increase in click-through rates and a 7% rise in average order value.

Nabors Industries (NSC) reported a surprise Q4 profit of $194 million, ending a 12-month loss streak, on stronger oil and gas drilling demand in the fourth quarter of 2026.

The company attributed the turnaround to higher rig utilization and pricing, with adjusted EBITDA reaching $317 million, up from a loss of $185 million in Q3 2025. Revenue rose to $3.26 billion from $2.94 billion year-over-year.

CEO Mike Doughty stated, "The drilling recovery, supported by higher oil prices and improved wellhead spreads, delivered the momentum we needed to turn around our operations."

Waste Connections (WCI) reported fourth-quarter and full-year 2025 results exceeding expectations. For Q4 2025, the company generated revenue of $1.25 billion, up 12.3% year-over-year, with adjusted EBITDA reaching $294 million, a 24.1% increase. Year-to-date, revenue totaled $4.62 billion, reflecting 11.8% growth from 2024, and adjusted EBITDA was $943 million, a 23.4% improvement.

Management attributed the strong performance to higher hauling rates, expanded service areas, and the successful integration of acquired assets. The company reaffirmed its 2026 guidance, maintaining a full-year revenue target of $1.85 billion and adjusted EBITDA guidance of $330 million to $340 million.

Manulife Financial (MFC) reported higher fourth-quarter profit, up 7.2% to C$229.4 million, ending a year of mixed results. The increase followed a 12.4% rise in operating income to C$320.7 million, driven by strong insurance premium growth and cost optimization. For the quarter ended January 31, 2026, net premiums written grew 10.8% to C$1.49 billion, reflecting continued momentum in its life and health insurance businesses. The company attributed the improved results to disciplined expense management and higher investment returns.

Sun Life Financial (SLF) announced on February 11, 2026, a 12% increase in fourth-quarter profit to C$484 million, driven by higher investment returns and improved underwriting conditions. The insurer attributed the improvement to strong performance in its Canadian and U.S. markets, with net income up 11% to C$1.09 billion for the quarter ended January 31, 2026.

The company reported that its investment portfolio returned 5.2% in Q4, up from 4.8% in the same period last year. Management cited favorable interest rates and gains from its asset-liability management strategy as key contributors to the results. The Q4 increase follows a 9% rise in the prior-year period, reflecting continued resilience in the insurance sector amid macroeconomic volatility.

Manulife Financial (MFC.V) reported full-year 2025 net income of C$1.49 billion, up 1.2% from C$1.47 billion in the prior-year period. The increase followed a 2.3% rise in insurance premiums to C$10.35 billion. Operating profit for the year was C$1.16 billion, a 1.8% improvement from C$1.14 billion in 2024. CEO Dr. Paul D. Gauthier stated the growth reflects stronger underwriting and pricing, as well as improved investment performance.

Since early January, software stocks have faced a sell-off as Wall Street worries that generative AI could disrupt core operations and erode demand. The pressure spiked in late January when Anthropic released updates to Claude Cowork adding executable plugins for legal, marketing, finance, data, and sales tasks, followed by releases from OpenAI.

From Jan 29: ServiceNow (NOW-US) -22.2%, Thomson Reuters (TRI-US) -26.0%, Intuit (INTU-US) -26.0%, Snowflake (SNO-US) -18.0%, and Salesforce (CRM-US) -20.0%.

Analysts caution the reaction is overblown. AI is more likely to be integrated into existing platforms to enhance capabilities rather than replace them. However, investors are shifting toward sectors perceived as more certain, including semiconductors, memory, data centers, utilities, and HVAC.

While open-source model advantages must materialize for AI firms to displace incumbents, many enterprises will continue to favor established software solutions, integrating AI capabilities to extend functionality and value. Data governance and willingness to share internal data remain key barriers to broader displacement.

Some software companies may be left behind; those that evolve with AI and adapt to new needs are best positioned for growth.

Apple shares rose 0.67% to $275.50 as Bernstein analyst Mark Newman raised the firm’s target from $325 to $340. While memory costs for the iPhone 18 could climb 15%—with DRAM up 237% and NAND 70%—Newman sees limited EPS impact and a potential 12% average price increase. He highlights Apple Intelligence/Siri 2.0, a hybrid model combining on-device and private cloud compute with Google’s Gemini, as the key catalyst. This maintains Apple’s privacy advantage and could drive a refresh cycle, offsetting memory-driven margin pressure and outperforming rivals.

February 11, 2026 — GFL Environmental (NYSE: GFL) reported Q4 revenue of $148.7 million, up 4% year-over-year, but earnings per share (EPS) fell 13 cents to $0.14, missing a $0.25 consensus estimate. The miss reflects higher-than-expected landfill closure costs and supply chain disruptions. Management attributed the result to continued transition to green waste processing, which is less capital intensive and more margin-friendly. The company raised its 2026 guidance to $1.25 billion in annual revenue, up from $1.20 billion previously.

MSA Safety Inc. (NASDAQ:MSA) reported a 12% year-over-year decline in Q4 net income to $17.5 million, driven by supply chain disruptions and higher inventory write-downs. The company attributed the results to reduced demand in North America and a 7% drop in active safety inspection hours. Revenue for the quarter rose 4% to $312 million, reflecting growth in its global healthcare division. Management expects Q1 to see improved visibility as supply chain constraints ease, with guidance for net income of $20–$22 million.

First American Financial Corp. (FAMC) reported fourth-quarter net income of $153.9 million, up 11% from $138.7 million in the same period of 2025. The increase followed a 3.2% rise in revenue to $319.1 million, driven by gains in commercial mortgage-backed and multi-family loan origination. Management attributed the improvement to higher interest margins and continued pricing power. The company closed 2025 with total annual net income of $524.4 million, reflecting a 4.2% year-over-year growth.

Russell Metals Inc. (RMM) reported fourth-quarter earnings that beat analyst expectations, with revenue rising to $31.2M, a 12.4% increase from $28.0M in the same period of 2025. Net income for the quarter reached $3.4M, up from a loss of $1.2M in Q4 2025, reflecting stronger pricing and higher output. Management attributed the improvement to disciplined cost controls and a 20% increase in production volume year-over-year.

AppLovin (NASDAQ:AMZN) reported fourth-quarter revenue of $2.49 billion, up 26% year-over-year, on February 11, 2026. Non-GAAP net income for the quarter was $214 million, or 26 cents per share, compared to a loss of $16 million, or 19 cents per share, in the same period of 2025. The company attributed the improvement to strong mobile ad sales and an expanded global ad inventory.