Morningstar, Inc. - August 21, 2025
Why 2025 Is the Year to Invest in International Stocks
Plus, 25 top picks for tax-efficient ETFs and mutual funds, and...
 Morning DigestAugust 21, 2025 Dan Lefkovitz Non-US stocks are outperforming this year, but there are both tactical and strategic reasons to buy international equities today. 
ADVERTISEMENT  Editor's Picks  These funds can help limit tax costs while providing stock and bond exposure. Christine Benz  Autocallable yield delivers high income with two big risks. Zachary Evens  The SEC relaxed limits on private fund exposure for closed-end funds. Here’s what that means for your portfolio. Jack Shannon Investing Insights High-yielding names you might have overlooked. Lan Anh Tran Funds from JPMorgan, Eaton Vance, and Morgan Stanley are among the best performers. Gabe Alpert The new OBBBA-created accounts offer tax-deferred savings for children but come with unique rules, limits, and deadlines. Denise Appleby An investor and author explains the ‘founder effect.’ Dan Lefkovitz Earnings Season With industry-leading AI capabilities, here’s what we think of Nvidia’s stock. Brian Colello We view Target stock as undervalued. Erin Lash We plan to raise our fair value estimate of Lowe’s stock. Jaime Katz New Stock Analyst Reports Jack Henry (JKHY) finished its fiscal year on a strong note as growth picked up in the fourth quarter and the company saw strong margin improvement. Adjusted revenue growth for the fourth quarter was 8% compared with the prior-year period. Core processing revenue was up 7% year over year. Adjusted operating margin improved to 23.2% from 21.7% in the prior year's quarter, as stronger growth allowed the company to leverage costs. For the full year, adjusted operating margin improved 70 basis points to 23.1%. Keysight Technologies' (KEYS) fiscal third-quarter results beat management guidance on the top and bottom lines. Revenue rose 11% year over year and 4% sequentially to $1.35 billion. Fourth-quarter guidance implies further sequential growth, with a sales midpoint of $1.38 billion. Keysight is seeing solid demand in fiscal 2025, particularly for data centers, defense applications, and chipmaking customers. While wireless and auto demand remain softer, we like the firm's diversification and ability to offset these areas of weakness, which should enable good growth. Artificial intelligence has been Keysight's most promising driver this year. New Fund Analyst Reports The American Funds Growth series (GWPAX) is overseen by a top management team that applies a measured, objectives-based approach. This series is designed for investors seeking capital growth, featuring a strong lineup of the firm’s growth-oriented strategies. Based on our assessment of the fund’s People, Process, and Parent Pillars in the context of these expenses, we think this share class will be able to deliver positive alpha relative to the category benchmark index. The Tools You Need to Invest Like an Analyst Stay connected:
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