Morning Digest

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Editor's Picks

Investing Insights

Inside a Surprise Exit With Big Implications for Berkshire

Todd Combs’ departure narrows the circle around Greg Abel and offers a read on how the company may operate in a post-Warren Buffett era.

Susan Dziubinski, Greggory Warren, Jess Bebel

How Much Volatility Is Too Much in a Stock’s Fair Value?

What investors can learn from Oracle stock’s swings in fair value, and what a downgraded moat means for the tech giant.

David Sekera, Susan Dziubinski, Jess Bebel

What the US Could Learn From Australia’s Retirement Savings System

Australia’s employer-funded savings system is routinely cited as a model the US should emulate.

James Locke

Robinhood: Initiating Coverage with Narrow Moat Rating, But Stock Looks Expensive

We believe Robinhood has gathered the critical mass of client assets needed to achieve durable profitability.

Sean Dunlop

Netflix: Price Increases Come Sooner Than Expected but Are Consistent With Our Outlook

We maintain our fair value estimate for Netflix stock.

Matthew Dolgin

Meta: Legal Headwinds Grow but We Think the Firm Can Weather the Storm

We maintain our fair value estimate for Meta stock.

Malik Ahmed Khan

What’s Happening in the Markets This Week

March jobs report, consumer confidence, and Nike earnings coming up.

Bella Albrecht

New Stock Analyst Reports

Core & Main (CNM) reported fourth-quarter sales of $1.6 billion and EBITDA margin of 10.6%. The company's 2026 guidance is for 3% sales growth and EBITDA margin of 12.3%. End markets remained mixed in the quarter, with steady municipal volume, relatively muted nonresidential, and weakness in residential demand. These same trends are expected to persist in 2026, resulting in flat end-market volume. Compared with the company's 2026 guidance, our revenue estimate is at the high end of the range and our 12.6% EBITDA margin is above the 12.3% midpoint.

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New Fund Analyst Reports

Janus Henderson Multi-Sector Income  (JMUAX) remains a distinctive multisector bond offering, pairing a long-tenured specialist trio with an aggressive but disciplined framework that leans on securitized credit and selective spread risk. Its People rating moves to Above Average from Average because that stable leadership team now sits atop a stronger fixed-income platform.

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