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- Equifax (EFX) Q3 2026 Earnings Call Transcript
Equifax posted third-quarter operating revenue of $1.69 billion, up 10% year over year, and adjusted EPS of $2.26, up 11%, despite about $20 million of mortgage market headwinds in September. Adjusted EBITDA margin rose to 33.1% from 32.7%, with Workforce Solutions revenue of $693.9 million, U.S. Information Solutions revenue of $599.1 million, and International revenue of $399.5 million. Management cut its full-year U.S. mortgage revenue expectation by $80 million, with full-year revenue guidance at a $6.66 billion midpoint and adjusted EPS guidance of $8.50. The company also announced a pending $750 million enterprise value acquisition of Círculo Crédito in Mexico, expected to close in the fourth quarter. Management noted that 30-year mortgage rates rose to about 7.5% in September from 6.6% in July, and that employer services revenue fell 5% in the quarter.
- Why Equifax Stock Popped After Earnings
Equifax (NYSE:EFX) shares rose 11.5% by 11:25 a.m. ET on Tuesday after the company reported Q3 results above expectations: adjusted EPS of $2.26 versus analysts' forecast of $2.20, with sales in line with the $1.69 billion estimate. Revenue grew 10% in the quarter, led by a 15% rise in U.S. mortgage revenue and a 20% jump in talent solutions (employee background checks); net income climbed 32% and GAAP EPS rose 39% to $1.79. However, Equifax cut its full-year revenue guidance because high interest rates are dampening mortgage demand; the midpoint projects about $6.66 billion in revenue (9.6% growth) and adjusted EPS of about $8.50. Year-to-date free cash flow reached $763 million, about 33% above net income. The author views the roughly 21.5x current-year earnings valuation as somewhat expensive against projected 12% long-term earnings growth and says they won't chase the rally.
- 2 cash-producing stocks with competitive advantages and 1 that underwhelm
The article profiles three cash-generating companies. It labels Crocs (CROX) a stock to sell, citing a 17.4% trailing 12-month free cash flow margin, inconsistent constant currency revenue and weak operating margins; the stock trades at $117.80, or 8.3x forward P/E. HubSpot (HUBS), with a 19.4% free cash flow margin, is a stock to watch, supported by 20% annual revenue growth over two years and an 83.2% gross margin; it trades at $248.15 per share, or 3.2x forward price-to-sales. Nvidia (NVDA), with a 41.9% free cash flow margin, is described as likely to outperform, with 77.4% revenue growth over two years and buybacks lifting EPS growth to 82.6%.
- Netflix downgraded, Tesla upgraded: Wall Street's top analyst calls
The Fly’s roundup of the day’s market-moving research calls lists the top five upgrades and top five downgrades. Upgrades include CLSA lifting Tesla to Hold from Underperform with a $400 target, up from $310, citing sentiment around a potential SpaceX merger; BMO Capital moving Block to Outperform with a $100 target; and JPMorgan upgrading CME Group to Overweight with a $367 target. Downgrades include Wolfe Research cutting Netflix to Peer Perform, RBC Capital cutting Dutch Bros to Sector Perform with a $46 target, down from $70, and JPMorgan cutting Qiagen to Neutral, citing EQT’s $52.23-per-share cash takeover offer.
- Oct 20, 2026: 10 hot stocks from Vietstock's technical analysis
- Top Wall Street analysts are bullish on the growth potential of these 3 stocks
Fears about the AI trade and higher oil prices are weighing on global markets, but analysts tracked by TipRanks still see growth potential in three stocks. Morgan Stanley's Erin Wright reiterated a buy on UnitedHealth with a $529 price target after a Q3 2026 beat and raise, lifting her 2026 EPS estimate to $20.65 and 2027 to $23.24. Guggenheim's Michael Morris kept a buy on Meta and raised his target to $850 from $700, citing Muse reaching 1.3 million daily active users in five weeks, though this is under 0.05% of Meta's 3.6 billion daily active users. Stifel's Tore Svanberg reiterated a buy on Marvell with a $370 target after its Investor Day raised its TAM estimate to $400 billion by 2030 and pointed to a $30 billion FY31 Custom revenue target. Svanberg expects Marvell's XPU Attach business to grow substantially, leading to a more balanced XPU and XPU Attach revenue mix.
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Musk said SpaceX and Tesla have formed special committees to study a merger, which would be worth about $3.5 trillion combined and would be the largest corporate deal in history. SpaceX, valued at about $2 trillion after a record listing this year, absorbed Musk's AI startup xAI in February, while Tesla is valued at about $1.5 trillion. Musk holds about 82 percent of SpaceX's voting power but only about 20 percent at Tesla. Dan Ives puts the odds of a deal at 90 percent by early 2027, though Musk called the requirement of a majority of all Tesla shares 'quite a high hurdle'. Loyal retail investors hold an estimated 25 to 27 percent of Tesla shares, and legal obstacles appear slight because both companies moved their incorporation to Texas from Delaware.
- CoreWeave and Nebius Stocks Are Crashing. Time to Buy the Dip?
Shares of Nebius and CoreWeave each fell 25% in the week of October 12 to 16. The sell-off stems from the yield on CoreWeave's debt in the secondary market surging to 15%, versus roughly 5% on Treasuries, which pushes the debt into 'distressed' territory and signals doubts about its ability to meet obligations. Nebius sold off in sympathy as a fellow neocloud company. The bigger concern is that both companies must keep issuing debt to fund data centers, and if yields are high at issuance, the assumption of nearly unlimited cheap capital could be challenged. The author says it is unclear whether now is the time to buy.
- Disney’s multiplatform Super Bowl plan frustrates ABC affiliates
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Meta says Mark Zuckerberg will remain in California for eight years and has created a new stock plan that could help cover his taxes if Proposition 40, a 5% tax on Californians worth over $1 billion, passes on Election Day on Nov. 3. According to a filing released with its third-quarter earnings, Meta will issue non-voting Class C shares starting in January, and Zuckerberg can sell or transfer up to 20% of the shares granted to him without affecting his majority voting control. The filing says Zuckerberg’s leadership is crucial to the company’s growth and its AI ambitions, including Meta Superintelligence Labs. Most of the tech industry opposes the measure, while a recent Citrin-Politico poll found 46% in favor and 43% against, suggesting it may fall short of the majority support it needs.
- Nasdaq sell-off: A momentum unwind 'for the record books'
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, calls Thursday’s sell-off in the Nasdaq Composite (^IXIC) a momentum unwind “for the record books.” He says the market spent the first half of 2026 driven by a beta and momentum trade led by semiconductors, but in the third quarter, as rates rose, money shifted into quality stocks. He does not think the sell-off is justified by fundamentals, arguing that institutional portfolio managers swapping out of factor positions can drag down whole baskets of stocks. In semiconductors, spot rental rates for Nvidia Blackwell chips are higher than a month ago, showing tightening compute supply, even as financing costs rise and investors worry about neocloud business models and the rising cost of insuring their bonds.
- Dune launches real-time data feeds covering 200 onchain trading venues
Blockchain analytics platform Dune has launched real-time market data feeds covering more than 200 onchain trading venues, aiming to bring this data into the systems of traditional financial institutions. The feeds draw trade data from 12 blockchains, including Ethereum, Solana and Base, about one second after execution, covering both spot trading on decentralized exchanges and perpetual futures on Hyperliquid and Lighter. Early clients include quant funds, market makers, asset managers and bank trading desks, which use the data to assess liquidity and compare prices, though Dune did not name them. Meanwhile, the tokenized stock market has grown sharply, with distributed value reaching $3.58 billion, but 16 companies, including Microsoft, Alphabet and Goldman Sachs, have objected to their shares being traded on OKXICE’s proposed platform, and liquidity remains fragmented.
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