Morningstar, Inc. - November 17, 2025
What to Know About the Tech Stock Selloff
Plus: 3 Warren Buffett Stocks to Buy After Berkshire’s Latest...
 Morning DigestSarah Hansen Big tech’s borrowing may be weighing on investors as policy divisions deepen at the Fed, but stocks are still up by double digits for the year. 
ADVERTISEMENT  Editor's Picks  After the historic 43-day shutdown, the window for IPOs coming to market in 2025 is small. Jacob Robbins  Albemarle stock jumps while Endava stock dips. Frank Lee  And what to know before adding these fixed-income exchange-traded funds from Vanguard and others to your portfolio. Daniel Sotiroff, Ivanna Hampton  For over 50 years, the Interfaith Center of Corporate Responsibility has engaged companies on ESG risk. Leslie Norton  If you own mutual funds in a taxable account, you may find yourself with a tax bill despite not having sold a single share. Margaret Giles Investing Insights Plus, the full list of stocks bought and sold last quarter. Susan Dziubinski Shareholder participation hits a high of 73% as questions over governance persist Lindsey Stewart Independent Franchise Partners’ picks include Warner Music and Johnson & Johnson. Gabe Alpert With outstanding long-term estimates, here’s what we think of Nvidia stock. Brian Colello The crypto investment manager’s revenue has been dropping, but its net income has increased. Michael Bodley We view this as an orderly, internally driven succession that maintains strategic continuity rather than signaling a shift in direction. Brett Husslein The October leading indicators report is expected, along with earnings from Walmart and Nvidia. Frank Lee More We think Tencent Holdings stock is moderately undervalued. Ivan Su New Stock Analyst Reports Bausch & Lomb (BLCO) introduced upcoming new products across its portfolio during its Nov. 13 investor day. It also introduced 2028 guidance for revenue, margin, and leverage ratio. Its 5%-7% annualized revenue growth goal for the next three years is in line with our original estimates. Net leverage of 3.5 times by 2028 also looks doable. Management expects adjusted EBITDA margin of 19% in 2026 and 23% in 2028, 50 and 200 basis points higher than our original estimates, respectively. New Fund Analyst Reports American Funds Bond Fund of America (ABNDX) succeeds while avoiding extremes. Aiding that avoidance is a management team composed almost entirely of generalists. Indeed, with the March 2025 swap of industry and firm veteran John Queen for mortgage-backed securities specialist David Betanzos, four of the strategy’s five named managers are now generalists. The lone exception, MBS expert Fergus MacDonald, runs his sleeve of the portfolio versus the Bloomberg Aggregate Bond Index, as do all the other managers, and has ample support from specialists in other bond sectors like corporates when he finds sectors outside mortgages attractive. The Tools You Need to Invest Like an Analyst Stay connected:
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