Morningstar, Inc. - April 27, 2026
How to Build a Portfolio: What to Own, What to Skip, and Why
Plus: Tech Sits Out the IPO Rush As Biotech and Healthcare Stocks...
 Morning DigestChristine Benz, Susan Dziubinski The difference between a well-built portfolio and a risky one often comes down to a few key choices. 
ADVERTISEMENT  Editor's Picks  Plus: a guide to Big Tech earnings, what Vanguard investors did during the war, and the case for recycled plastics. Leslie Norton  Plus, what’s likely flying under the radar. Tom Lauricella, Ivanna Hampton  The April IPO boom has been led by Kailera’s record $625 million debut. Tech startups are in wait-and-see mode ahead of SpaceX’s launch. Michael Bodley, Kia Kokalitcheva  Making choices to harness HSAs’ prodigious tax benefits. Christine Benz Investing Insights Vanguard and S&P 500 funds dominate the list of the best-performing large-blend strategies. Gabe Alpert From obesity drug sales to acquisition strategy, here’s what we’re looking for in Lilly’s upcoming earnings report. Karen Andersen With first-quarter sales exceeding guidance despite March price hikes, here’s what we think of Netflix stock. Matthew Dolgin We view V4 as a competent follow-up, not the watershed that R1 was. Ivan Su More New Stock Analyst Reports Otis OTIS posted 10% organic growth for the repair business in the first quarter, but the service segment's margin contracted 160 basis points to 23.0%, missing management's guidance. Full-year EPS guidance was cut to $4.20-$4.24, implying 4%-5% growth, versus a previously implied ceiling near $4.45. Service generates the bulk of Otis' profits and underpins the investment case. The margin miss—partly geographic mix and partly one-off costs—introduces uncertainty about the pace of margin expansion. The modernization backlog maintained 30% growth for a second consecutive quarter, and total backlog rose to $19.6 billion. Long-term demand is intact. New Fund Analyst Reports American Funds New World (NEWFX) (which includes the Capital Group New World vehicles in Luxembourg, Australia, and Japan) benefits from a seasoned management team, robust resources, and a sensible, risk-averse approach. Although the firm made some lineup changes at the start of 2026 following a comprehensive internal review, the strategy continues to benefit from a deep bench of capable managers. Two managers moved subsidiaries but continue to oversee assets, while Carl Kawaja assumed a leadership role. In addition, Rob Lovelace, who ran just 5% of assets, stepped off on April 1, 2026, while Saurav Jain was disclosed as a manager. Jain has served as a comanager on another emerging-market strategy for more than five years, so this is well within his wheelhouse. The Tools You Need to Invest Like an Analyst Stay connected:
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