A shopper pushes a cart outside a Walmart store in Pittsburg, California.
(Bloomberg) — US retail sales growth likely moderated a touch in September, capping an otherwise solid quarter of spending by consumers who are nonetheless frustrated by high prices and anxious about job security.
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Economists expect a 0.4% increase in sales after the 0.6% gain a month earlier, based on the Bloomberg survey median estimate. Delayed for more than a month by the government shutdown, the Census Bureau is scheduled to issue the figures on Tuesday.
Retail demand proved resilient over the summer, probably helping to fuel an acceleration in economic growth during the third quarter. At the same time, there’s a risk that consumer outlays will cool as many employers temper hiring.
Moreover, discretionary spending is being supported mostly by upper-income shoppers enjoying the fruits of the year’s stock market rally. For those further down the income ladder, the higher cost of many staple items is taking a toll.
The latest University of Michigan data show consumers have the dimmest views of their personal finances since 2009, and see the probability of losing their jobs at the highest in five years.
In the retail space, companies including Walmart Inc. and Gap Inc. have reported strong quarterly sales as well as success in appealing to higher-income shoppers. Yet Home Depot Inc. warned that many consumers are putting remodeling projects and big-ticket purchases on hold.
Other key US data in the coming week include the producer price index and durable goods orders for September, as well as weekly jobless claims. Those reports come ahead of Thursday’s Thanksgiving holiday and Black Friday, the biggest retailing day of the year.
Meanwhile, the Federal Reserve’s latest Beige Book on Wednesday, covering October and early November, is likely to highlight weakness in employment and activity.
What Bloomberg Economics Says:
“Labor-market conditions bottomed during the summer, then improved gradually until the government shutdown began — which led to some renewed weakness in spending and hiring. Firms are mostly seeking ways to cut costs by adopting technology and trimming hiring. Altogether, we believe the Fed can and probably should cut rates in December to sustain the fragile recovery that began during the summer.”
—Anna Wong, Stuart Paul, Eliza Winger, Estelle Ou, Chris G. Collins, Troy Durie and Alex Tanzi. For full analysis, click here
Canada will release gross domestic product data on Friday. It likely grew slightly in the third quarter after contracting between April and June as US tariffs crushed exports. The Bank of Canada expects 0.5% expansion on an annualized basis, and has said it believes rates are at “about the right level” as long as the economy and inflation evolve in line with its forecasts.
Traders in overnight swaps currently see just a slim, 3% chance of a rate cut at the central bank’s Dec. 10 meeting. Still, the GDP report is expected to show a sluggish economy with a manufacturing sector hit hard by the US trade war.
Elsewhere, the long-awaited UK budget and inflation readings from Australia to Germany to Mexico will draw attention. Central bankers in New Zealand, Israel and Nigeria are likely to cut interest rates, while South Korea is expected to hold.
Click here for what happened in the past week, and below is our wrap of what’s coming up in the global economy.
Asia
Asia’s final week of November brings a dense run of price data and rate decisions that will shape how policymakers close the year.
The week begins with Singapore’s October CPI, with economists predicting an acceleration in prices, while Taiwan follows with its unemployment rate.
On Tuesday, South Korea releases consumer confidence, Japan has department-store sales, and Taiwan reports industrial production for October. The data will give a sense of how consumption and external demand are holding up across North Asia.
Attention shifts mid-week to Australia and New Zealand. Australia’s October CPI will show whether price pressures remain elevated enough for the Reserve Bank to stay on an extended hold. Third-quarter construction data, due the same day, will highlight the impact of lower borrowing costs on the building pipeline.
In Wellington, the Reserve Bank of New Zealand is expected to lower borrowing costs again to bring its official cash rate to 2.25%, a near 3-1/2 year low. Singapore’s industrial production figures and the Philippines’ budget balance are also on the calendar.
Attention turns to Seoul on Thursday, where the Bank of Korea is set to leave rates unchanged at 2.5%. The same day, New Zealand reports third-quarter retail sales and ANZ business surveys, key to measuring how easier monetary conditions are feeding through to households and firms.
The week concludes with a data-heavy Friday. Japan’s Tokyo CPI, labor-market data, retail sales and industrial production will offer a comprehensive snapshot of how households and manufacturers are coping with tighter monetary settings and a weaker yen. South Korea’s industrial production and the Philippines’ trade balance are also on tap.
Taiwan posts preliminary third-quarter GDP and India closes the week with its third-quarter growth print ahead of a long-awaited trade pact with the US.
Europe, Middle East, Africa
Public finances will dominate the headlines in Europe. Most prominent will be the UK, where Chancellor Rachel Reeves delivers a budget after weeks of speculation that have roiled financial markets and — according to survey data — unsettled business sentiment.
Reeves needs to find as much as £30 billion ($39 billion) in extra funds to restore stability to the public finances. Having floated the prospect of income tax increases that would have broken pre-election promises, she dialed back on that and is now likely to take other steps to achieve her goal.
Czech lawmakers on Wednesday will start discussing a draft budget for 2026 that may indicate an outlook for the fiscal deficit.
Meanwhile, Bulgarian lawmakers may approve their own finance bill for 2026 in the coming week — the country’s first budget to be denominated in euros — amid criticism from experts and the opposition that debt levels are rising rapidly while the deficit, at the European Union’s 3% threshold, is unrealistic.
And in Romania, the government may approve a set of reforms likely to include spending cuts for the public administration through a fast-track procedure in parliament.
Turning to the euro zone, Germany’s closely watched Ifo business confidence index will be released on Monday, with only a slight improvement in sentiment anticipated for Europe’s largest economy.
All four of the region’s biggest economies will publish inflation numbers on Friday. Germany and France are predicted to see acceleration, with no change for Italy and a slowdown in price growth in Spain.
Several European Central Bank officials are scheduled to speak, including President Christine Lagarde in Bratislava on Monday. The institution’s financial stability review comes two days later, followed on Thursday by its account of the discussion by policymakers at their Oct. 29-30 meeting.
Some monetary decisions are on the calendar in the wider region:
Israel is set to lower its key rate for the first time in almost two years on Monday as a ceasefire in Gaza tames inflation and stabilizes markets. The Bank of Israel is expected to cut by 25 basis points to 4.25%, according to economists in a Bloomberg survey.
Nigeria is poised to reduce its benchmark by 100 basis points on Tuesday, to 26%, after inflation slowed more than expected in October to 16%.
In Ghana, where annual inflation has cooled to a more than four-year low, policymakers are predicted to cut borrowing costs for a third straight meeting — by 325 basis points to 18.25% — after a surprise 350-point reduction in September.
Latin America
There’s very little chance that Mexico’s mid-month consumer prices report on Monday will either cement or derail the central bank’s 12th straight rate cut at next month’s meeting — 33 of 35 economists in Citi’s most recent survey expect just that on Dec. 18.
Headline inflation is taking a bumpy path down to Banxico’s year-end forecasts — though the core readings have been less cooperative — and policymakers are much more focused on the risk of a recession after output contracted in the third quarter.
Perhaps of greater interest to Mexico watchers, Banxico’s inflation report on Wednesday may present downward revisions to growth and inflation projections as a mix of US tariffs, trade uncertainty and fiscal retrenchment batter Latin America’s No. 2 economy.
Expect Brazil’s mid-month consumer prices data on Wednesday to offer more evidence that the central bank’s take-no-prisoners, scorched-earth monetary policy is working. Brazil will also post its broadest inflation gauge — the IGP-M general price index — for November.
The week will offer check-ins on the labor markets of four of the region’s bigger economies. Unemployment in Brazil has been running at a record low 5.6% since July, and joblessness in Mexico and Colombia are below long-term levels as well, while holding above average in Chile.
The highlight of a light week in Argentina is September GDP-proxy data, certain to reflect the sharp selloff of local assets in the run-up to the Oct. 26 midterm election.
A third-quarter contraction seems likely, and analysts surveyed by the central bank anticipate 3.9% growth in 2025, down from July’s forecast of 5%.
–With assistance from Andrew Atkinson, Carla Canivete, Jeremy Diamond, Mark Evans, Robert Jameson, Laura Dhillon Kane, Swati Pandey, Piotr Skolimowski and Monique Vanek.
Liquidation calls from the sidelines are growing louder for Strategy (MSTR) as bitcoin tumbles and the company’s common stock has plunged nearly 70% from last year’s peak, calling into question — for some — the firm’s ability to continue to meet its obligations.
Throughout 2025, Strategy has relied on perpetual preferred stock as its primary financing vehicle for bitcoin purchases, while mostly using at-the-market (ATM) common share issuance mainly to cover its preferred dividend obligations.
Led by Executive Chairman Michael Saylor, the company issued four U.S.-listed preferred series during the year: Strike (STRK) pays an 8% fixed dividend and is convertible into common stock at $1,000 per share. Strife (STRF) carries a 10% fixed non cumulative dividend and ranks as the most senior of the preferreds. Stride (STRD) also pays 10% but on cumulative terms and sits junior in the structure. Stretch (STRC), the newest series, debuted in August at $90 with a 10.5% fixed cumulative dividend and now trades just above its offer price.
As of Nov. 21 STRK trades near $73, an 11.1% current yield, with a 10% decline since issuance. STRD has been the weakest performer, falling to about $66 for a 15.2% yield and a 22% total return loss. STRF is the only series still above issue, trading around $94 and delivering roughly an 11% gain, reflecting its senior standing.
Bitcoin’s plunge over the past weeks has market participants focusing on the roughly $74,400 level at which Strategy — after more than five years of accumulation — would actually be in the red on its bitcoin holdings.
While that’s surely an important level for talking points, a decline below $74,400 surely does not mean the company would face a margin call or need to engage in forced sales of any part of its BTC stack.
The nearest structural pressure point is almost two years out on September 15 2027, when holders of the $1 billion 0.625% convertible senior notes receive their first put option.
The notes were priced when MSTR traded at $130.85 and carry a conversion price of $183.19. With the stock now at about $168, holders would be unlikely to convert and would probably seek cash repayment, potentially requiring Strategy to raise or liquidate assets unless the share price rises meaningfully before 2027.
Even if the MSTR share valuation premium to bitcoin holdings (the mNAV) collapses further and maybe even goes to a discount, Strategy still has a clear path to cover the annual preferred dividend bill.
Treatment with intraventricular HER2-directed CAR T-cell therapy, with or without lymphodepletion (LD), was safe and led to stable disease (SD) in patients with HER2-positive breast cancer with recurrent brain and/or leptomeningeal metastases, according to data from a phase 1 trial (NCT03696030) presented at the 2025 Society of Neuro-Oncology Annual Meeting.1
The most common adverse effects (AEs) included grade 1/2 headaches, nausea/vomiting, fever, fatigue, and myalgias lasting 24 to 48 hours following a dose of the therapy. Two instances of possible grade 1/2 immune effector cell–associated neurotoxicity syndrome occurred in 2 patients treated with LD and CAR T-cell therapy, with these patients developing confusion/lethargy. Within the LD plus CAR T-cell therapy cohort (n = 13), 2 dose-limiting toxicities (DLTs) were reported in the form of grade 3 headache, which prevented the administration of planned doses of HER2 CAR T cells.
In both cohorts, the best response was SD. Patients treated with CAR T-cell therapy alone (n = 10) achieved an SD rate of 44% with a median duration of SD of 56 days (range, 50-136). In patients treated with LD plus CAR T-cell therapy, the SD rate was 64% with a median duration of SD of 56 days (range, 44-134).
CAR T-Cell Therapy in Brain/Leptomeningeal Metastases From HER2+ Breast Cancer
HER2-directed CAR T-cell therapy was safe in the treatment of patients with HER2-positive breast cancer with recurrent brain or leptomeningeal metastases, with the most common AEs being grade 1/2.
Two DLTs (grade 3 headache) were reported in patients treated with LD and CAR T-cell therapy, preventing patients from receiving planned doses of CAR T-cell therapy.
Best response was SD; the SD rates were 44% in patients given CAR T-cell therapy alone and 64% in patients given LD and CAR T-cell therapy.
“This study has shown the initial safety of intraventricular administration of HER2[-directed] CAR T cells alone and with LD,” lead study author Jana Portnow, MD, said in a presentation of the data. “[The addition of] LD did not increase the durability of SD, and we saw an increase in toxicity when LD was added. However, we also saw some evidence of on-target activity when LD was added.”
Portnow is a professor in the Department of Medical Oncology & Therapeutics Research and the co-director of the Brain Tumor Program at City of Hope in Duarte, California.
How was the phase 1 study designed?
Investigators of the single-center study conducted at City of Hope enrolled patients at least 18 years of age with histologically confirmed HER2-positive breast cancer (defined as immunohistochemistry 3+ or gene amplification per fluorescence in situ hybridization) who had recurrent brain metastases after radiation or recurrent leptomeningeal metastases after intrathecal chemotherapy.1,2 Patients needed to have a Karnofsky performance status of at least 70, and there was no limit on the number of prior therapies.1 Patients were not allowed to be receiving dexamethasone at a dose higher than 6 mg per day, and patients also needed to stop systemic chemotherapy or endocrine therapy during the first 3 cycles of CAR T-cell therapy.
The HER2-directed CAR T-cell therapy was evaluated at 3 dose levels. Dose level 1 comprised 2 x 106 CAR T cells in cycle 1, 10 x 106 CAR T cells in cycle 2, and 10 x 106 CAR T cells in cycle 3 and beyond. At dose level 2, doses were 10 x 106 CAR T cells in cycle 1, 50 x 106 CAR T cells in cycle 2, and 50 x 106 CAR T cells in cycle 3 and beyond. At dose level 3, these respective doses were 20 x 106 CAR T cells, 100 x 106 CAR T cells, and 100 x 106 CAR T cells.
In the LD plus CAR T-cell therapy cohort, LD comprised cyclophosphamide at 300 mg/m2 per day and fludarabine at 25 mg/m2 per day, with each given for 3 days.
The safety of the CAR T-cell therapy, with or without LD, served as the trial’s primary end point. Secondary end points included the persistence of CAR T cells in cerebrospinal fluid (CSF) and peripheral blood; evidence of activation of the endogenous immune system; changes in cytokine levels in the CSF and peripheral blood; and central nervous system (CNS) clinical benefit, median CNS progression-free survival, and overall survival.
In the cohort of patients who received CAR T-cell therapy alone (n = 10), the median age was 49 years (range, 31-59), and 3 of these patients had leptomeningeal metastases. Patients in this cohort received a median of 6 doses of CAR T-cell therapy (range, 3-11), and they had received a median of 6 prior chemotherapies (range, 1-9). In the LD plus CAR T-cell therapy cohort (n = 13), the median age was 54 years (range, 34-76), and 6 patients had leptomeningeal metastases. Patients received a median of 5 doses of CAR T-cell therapy (range, 2-11), and these patients had received a median of 4 prior chemotherapies (range, 2-9).
What did the correlative analyses reveal from this study?
Portnow also explained that a correlative study showed modest increases in persistence of HER2 CAR T cells in the CSF with escalating doses and the addition of LD.
In a case study of the first patient to receive LD prior to CAR T-cell therapy, which involved a 54-year-old woman with HER2-positive, hormone receptor–positive breast cancer involving brain and leptomeningeal metastases only, investigators detected an increase in CAR T-cell persistence after LD. Prior to this patient’s first dose of CAR T-cell therapy, she had the presence of large, highly atypical cells that were consistent with metastatic carcinoma. After the third dose, rare large atypical cells were present, suspicious for metastatic carcinoma. After the fourth and fifth doses of CAR T-cell therapy, no malignant cells were detected on CSF cytology.
The correlative studies also revealed that the HER2-directed CAR T cells led to an increase in proinflammatory cytokines in the CSF. However, these pro-inflammatory cytokines decreased over time, and an increase in anti-inflammatory cytokines was reported.
Disclosures: Portnow did not report any conflicts of interest.
References
Portnow J, Blanchard S, Kilpatrick J, et al. A phase 1 study of intraventricularly administered autologous HER2-targeting chimeric antigen receptor T cells (HER2-CAR T cells), with and without lymphodepletion, in HER2-positive breast cancer patients with recurrent brain and/or leptomeningeal metastases. Presented at: 2025 Society of Neuro-Oncology Annual Meeting; November 19-23, 2025; Honolulu, HI. Abstract CTIM-07.
HER2-CAR T cells in treating patients with recurrent brain or leptomeningeal metastases. ClinicalTrials.gov. Updated April 13, 2025. Accessed November 22, 2025. https://clinicaltrials.gov/study/NCT03696030
Robert Garza thought he was walking into a standard salary discussion when he met with a superior at Campbell Soup Company. Instead, he sat through what he says was an hour-long tirade that left him feeling sick.
Garza suggested to Local 4 News that he felt, “something wasn’t right with Martin,” a vice president and chief information security officer at the food company (1).
What Garza heard — and also recorded — would ultimately cost him his job. Now, the Monroe, Michigan resident is suing Campbell’s, claiming he was fired in retaliation for trying to do the right thing.
Garza began working remotely as a security analyst for Campbell’s Camden, New Jersey headquarters in September 2024. Later that year, he met with Bally at a restaurant to discuss his compensation. But the conversation quickly veered off course.
According to Garza’s lawsuit filed in Wayne County Circuit Court (2), Bally launched into what the complaint describes as a “disgusting” rant about the company’s products and employees. The recording, which lasted over an hour and 15 minutes, allegedly captured Bally making racist remarks about Indian coworkers and disparaging comments about Campbell’s customers.
“We have s–t for f–king poor people. Who buys our s–t? I don’t buy Campbell’s products barely anymore. It’s not healthy now that I know what the f—‘s in it,” Bally allegedly said in the recording. “Bioengineered meat — I don’t wanna eat a piece of chicken that came from a 3-D printer.”
The rant didn’t stop there. According to the lawsuit, Bally made several derogatory comments about Indian employees, calling them “idiots” and saying they “couldn’t think for their f—ing selves.”
Garza also alleges in the filing that Bally admitted to regularly coming to work high from marijuana edibles.
“He has no filter,” Garza said. “He thinks he’s a C-level executive at a Fortune 500 company and he can do whatever he wants because he’s an executive.”
Garza kept the recording to himself at first. He said he felt “pure disgust” after the meeting and needed time to process what he’d heard. But in January 2025, he decided he couldn’t stay silent.
He went to his direct supervisor, J.D. Aupperle, to report Bally’s behavior — particularly the racist comments about their coworkers.
“He was really sticking up for other people,” said Zachary Runyan, Garza’s attorney. “He went to his boss and said, ‘Martin is saying this about Indian coworkers we have, he’s saying this about people who buy our food — who keep our company open, and I don’t think that should be allowed.’”
Twenty days later, Garza was blindsided. He was fired on Jan. 30, 2025.
“The response to Robert sticking up for other people is he gets fired, which is ridiculous,” Runyan said.
The termination was especially shocking, Garza said, because Bally had praised his work performance during that same December meeting. According to Runyan, Garza had never received any disciplinary action or write-ups. “He had never had any disciplinary action, they had never written him up for work performance,” Runyan said.
Garza said he received no follow-up from Human Resources or anyone else at Campbell’s. No investigation. No explanation. Just a termination.
It took him 10 months to find another job.
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The lawsuit accuses Campbell Soup Company of maintaining a racially hostile work environment and retaliating against Garza for raising concerns. It names the company, Bally and Aupperle as defendants. Garza is particularly frustrated by the disconnect between Campbell’s public image and how he was treated.
“They have a motto: ‘We treat you like family here at Campbell’s — come work for us,’” he said. “‘We treat our employees like family.’ That’s not the case.”
Campbell Soup Company issued a statement Thursday evening saying, “If accurate, the comments in the recording are unacceptable. They do not reflect our values and the culture of our company. We are actively investigating this matter.”
But for Garza, that response feels too little, too late. He calls the company’s handling of the situation “simply terrible.”
If you witness workplace misconduct — whether it’s discrimination, harassment or something else that violates company policy — here are some steps you can take:
Document everything. Keep detailed records of what happened, when and who was involved. If your state allows one-party consent recording, that can be powerful evidence (3).
Report through proper channels. Go to HR or use your company’s ethics hotline. Put your complaint in writing so there’s a record (4).
Know your rights. Federal law protects employees from retaliation when they report discrimination or harassment. If you’re fired or demoted after making a complaint, you may have legal recourse.
Consult an employment attorney. If you believe you’ve been retaliated against, talk to a lawyer who specializes in employment law. Many offer free consultations.
**Consider outside agencies. **The Equal Employment Opportunity Commission (EEOC) investigates discrimination complaints. You typically have 180 days to file a charge (5).
For Garza, standing up felt like the only option — even if it cost him everything. Now he’s hoping the legal system will prove he made the right choice.
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
Detroit Local 4 News (1); Law.com (2) Barrett & Farahany (3); U.S. Equal Employment Opportunity Commission (4); EEOC (5)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Korn Ferry’s consensus analyst price target has recently been adjusted downward from $83.75 to $81.00 per share, reflecting a modest shift in market sentiment. This change comes as analysts weigh both positive sector developments and ongoing uncertainties impacting the company’s growth outlook. Read on to learn how evolving analyst perspectives may shape future updates to Korn Ferry’s stock narrative and how you can stay informed as the story develops.
Stay updated as the Fair Value for Korn Ferry shifts by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Korn Ferry.
Recent commentary from analysts offers insights into how Korn Ferry is being evaluated in light of ongoing industry developments and comparable company movements. The feedback captures both positive signals as well as notes of caution regarding the company’s near-term prospects.
🐂 Bullish Takeaways
Truist highlighted the announced acquisition of Heidrick & Struggles and raised their price target to $59 per share. They described the event as “an encouraging signal” of demand trends in the executive search sector. This was referenced as a positive indicator for Korn Ferry, suggesting that healthy sector momentum may benefit KFY going forward.
Analysts are following signals of strong demand and sector confidence as key drivers of optimism for Korn Ferry. They note expectations that stable execution and market trends could support the company’s growth outlook.
🐻 Bearish Takeaways
Truist maintained a Hold rating on Heidrick & Struggles and, by extension, signaled lingering caution for Korn Ferry as well. While sector trends appear favorable, analysts remain mindful of near-term uncertainties that could limit additional valuation upside for KFY.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there’s more to the story. Head to the Simply Wall St Community to discover more perspectives or begin writing your own Narrative!
NYSE:KFY Community Fair Values as at Nov 2025
At the 2025 Annual Meeting of Stockholders, Korn Ferry stockholders approved amendments to the company’s Restated Certificate of Incorporation. These amendments limit the liability of certain officers in accordance with Delaware law.
Between May 1 and July 31, 2025, Korn Ferry repurchased 145,770 shares for $10.16 million. This reflects significant progress toward completing its long-standing share buyback authorization.
Korn Ferry issued earnings guidance for the second quarter of fiscal 2026, forecasting fee revenue between $690 million and $710 million and diluted earnings per share ranging from $1.10 to $1.16.
Consensus Analyst Price Target has decreased from $83.75 to $81.00 per share. This reflects a modest reduction in projected company value.
Discount Rate has risen slightly, increasing from 7.24% to 7.46%. This signals a higher perceived risk in the current market environment.
Revenue Growth forecast has fallen marginally from 4.33% to 3.99%. This points to tempered expectations for near-term expansion.
Net Profit Margin has improved slightly from 10.69% to 10.79%. This indicates stronger operational efficiency.
Future P/E ratio remains nearly unchanged, with a previous estimate of 16.20x compared to a current estimate of 16.19x.
A Narrative is a simple, story-driven way to connect the numbers to real-world decisions. On Simply Wall St, millions of investors use Narratives on the Community page to see not just the current valuation, but the story—your or an analyst’s perspective—that links a company’s future to its forecasts and fair value. Narratives are updated as news breaks, making it easy to decide when price and potential align.
Discover the full Korn Ferry Narrative and follow along for:
Insights on how Korn Ferry’s strategic transformation projects, AI investments, and market expansion could drive future earnings and net margins
A balanced look at margin and revenue growth forecasts, and what must happen for the stock’s fair value to rise above the current price
Regularly updated perspectives that help you keep track as the macro landscape, competition, or outlook evolves
Read the original narrative: KFY: Executive Search Sector Momentum Will Support Upcoming Profit Margins
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include KFY.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
The typically consensus-driven Federal Reserve is looking more and more divided lately, so much so that next month’s rate-setting meeting could produce a deadlock, according to Capital Economics.
After two earlier cuts, recent comments from policymakers have been leaning hawkish as inflation remains stuck above the Fed’s target, dampening hopes for more easing at the Federal Open Market Committee’s Dec. 9-10 meeting.
But New York Fed President John Williams surprised Wall Street on Friday when he said he sees “room for a further adjustment in the near term” to bring benchmark rates closer to neutral.
That boosted odds for rate cut next month above 70% from less than 40% the day before, while also sparking a broad stock market rally. But it also potentially sets up some tricky math on the 12-member FOMC.
In a note on Friday, economists at Capital Economics attempted to count votes. The four regional Fed bank presidents on the committee—Susan Collins, Austan Goolsbee, Alberto Musalem and Jeffrey Schmid—have sounded skeptical or “downright hostile” to the idea of a rate cut next month. Fed governors Michael Barr and Phillip Jefferson have also signaled caution.
On the dovish side, the three Trump-appointed Fed governors—Michelle Bowman, Stephen Miran and Christopher Waller—have been calling for rate cuts, and Williams sounded Friday like he could join them.
“That’s still only four ayes in favor of a cut and six nays against but, to the extent that Williams and Fed Chair Jerome Powell often hold the same view (and Governor Lisa Cook usually votes with Powell), we could have a six-six tie,” Capital Economics said.
“Then things would get really messy since it’s not clear that Powell has a casting vote, so the vote to change policy might simply fail to be carried.”
The Labor Department’s September jobs report released on Thursday after being delayed by the government shutdown is unlikely to tip the scales.
That’s because the mixed data showed payrolls grew by more than expected, but prior months were revised lower with August now showing a decline. The unemployment rate also ticked up to 4.4%, the highest since 2021, from 4.3%.
Separate data on weekly jobless claims still don’t indicate a spike in newly unemployed people, but the steady rise of continuing claims means jobs are difficult to find.
What if there’s a tie vote on the Fed?
There has never been a tie vote at the Fed, and the FOMC’s rules and procedures don’t discuss such a scenario.
Robert Eisenbeis, who previously served as director of research at the Atlanta Fed, told Fortune earlier this year that in the event of a tie vote, the federal funds rate would stay the same.
There is no override provision, meaning the chair doesn’t have the ability to force a different decision, he explained via email. It’s also not clear if policymakers would take another vote during that same meeting or wait until the next scheduled meeting to vote.
“There is no precedent here,” Eisenbeis said in August. “I would presume there would be the option for a revote, but if not, then no change in the funds rate. If there is no change in the rate, then the next meeting is where another review and vote would take place.”
While the Fed has never had to deal with a tie vote, it has come close a few times. According to a July note from Christopher Hodge, chief U.S. economist at Natixis CIB Americas, there have been three occasions when a decision on the FOMC passed by a one-vote majority, though the last time it occurred was in 1973.
Hodge, who previously served as principal economist at the New York Fed, previously told Fortune via email that the question of a tie hasn’t been covered in any official public documents explicitly.
Still, the chair has significant authority in guiding meetings and decisions, he said, noting that the FOMC is also a self-governing committee that has the ability to alter its rules.
“In the absence of an explicit tie-breaking rule, the chair is generally understood to have the ability to cast a deciding vote or guide the committee toward resolution, as is common in other deliberative bodies with a presiding officer,” Hodge explained in August. “This is not made explicit in any document I have seen and is more of a custom than a rule.”
If there’s a tie at the Fed, investors might look to the U.K. for guidance. The Bank of England had to navigate a historic deadlock this summer after four policymakers voted to keep rates steady, four voted to cut by a quarter point, and one voted to cut by a half point.
That prompted the bank’s Monetary Policy Committee to hold a decisive revote for the first time since it was created in 1997. The subsequent 5-4 decision lowered rates a quarter point to 4% from 4.25%.
Geriatric lung cancer care took center stage at the SIOG 2025 Roundtable Discussion “Perspectives on Complexities in Treatment Selection for Older Adults with Lung Cancer,” which brought together pulmonologists, oncologists, geriatricians, and supportive care specialists for a candid, case-based exploration of one of the most challenging areas in oncology. Chaired by Fabio Gomes (Manchester), the roundtable emphasized the nuanced decisions required when caring for older adults with lung cancer.
A Case-Based Roundtable on Geriatric Lung Cancer
The session revolved around a real clinical case of an older adult newly diagnosed with lung cancer. The case highlighted diagnostic uncertainty, comorbidity burden, functional limitations, and competing priorities that often shape treatment selection far beyond what guidelines alone reveal. Early symptoms, diagnostic findings, and initial management steps were presented to frame the discussion.
When Specialties See the Same Patient Differently
Under the moderation of Prof. Lore Decoster, panelists examined the case from pulmonology and geriatric oncology perspectives. The conversation showed how imaging choices, biopsy decisions, and risk stratification can diverge depending on the clinician’s specialty lens. It also illustrated how critical details — especially functional and psychosocial factors — may remain unspoken when geriatric insight is not part of multidisciplinary tumor board discussions.
Toxicity, Treatment Interruptions, and Lessons Learned
The patient’s treatment pathway served as a turning point. Systemic therapy had been initiated without a geriatric assessment, and the patient soon experienced significant toxicity that disrupted the plan. This opened a wider discussion on what might have been anticipated: frailty indicators, polypharmacy concerns, cognitive issues, or functional decline that routine oncology workups often miss. Panelists noted that many complications are predictable — and sometimes preventable — when geriatric principles guide decision-making.
Why Geriatric Assessment Changes the Trajectory
The session then focused on practical solutions. Siri Rostoft (Oslo) and Theodora Karnakis (São Paulo) outlined how geriatric assessment can be feasibly integrated into lung cancer care. Even brief screening tools help identify vulnerabilities that influence dosing decisions, treatment intensity, and supportive care needs. They emphasized that geriatric assessment is more than an “extra step” — it is a safety mechanism that leads to more individualized, realistic treatment plans.
Insights From Global Clinical Practice
Audience members from multiple regions shared reflections, describing cases where the absence of geriatric assessment led to overly aggressive therapy, avoidable toxicities, or missed opportunities for supportive care intervention. The discussion highlighted the shared global challenge of treating older adults with lung cancer who often present with overlapping medical, functional, and social issues.
Closing Message: Bridging the Gap in Lung Cancer Care
In his concluding remarks, Fabio Gomes returned to the central lesson of the roundtable: improving outcomes for older adults with lung cancer requires coordinated, multidisciplinary decision-making informed by geriatric principles. Diagnostics, treatment planning, and toxicity management must reflect the whole patient — not just the tumor. Integrating geriatric assessment, embedding structured pathways, and recognizing when a more measured approach may be safer are essential steps toward better care.
This roundtable made one thing clear: while complexity is unavoidable, thoughtful collaboration across disciplines can transform the treatment experience for older adults with lung cancer.
SoundHound AI (SOUN) has seen its shares slip by about 37% over the past month, leaving investors re-evaluating its current valuation. The company’s annual revenue growth remains steady, even as the stock faces continued pressure.
See our latest analysis for SoundHound AI.
After a year marked by headline-grabbing rallies and a recent slide, SoundHound AI’s share price momentum is fading, with a 1-year total shareholder return of 36% but a 30-day share price return of -36.8%. The company’s story this year is one of strong long-term gains intersecting with short-term volatility as investors weigh its growth promise against shifting market sentiment.
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With the stock now sitting over 50% below analyst targets, the big question is whether investors are overlooking SoundHound AI’s potential, or if the market is already factoring in all the future growth ahead.
SoundHound AI’s narrative price target stands substantially above its latest closing price, setting the stage for a debate about robust growth, high expectations, and what it all means for the valuation.
The rapid consumer shift toward personalized, hands-free digital experiences is compelling enterprises to integrate advanced voice solutions as a differentiator. SoundHound’s unique Voice Commerce ecosystem, agentic AI platform, and multimodal capabilities offer significant upsell and renewal potential, translating to higher net retention and increased recurring revenue.
Read the complete narrative.
Want to learn what’s driving that hefty upside? Bold revenue leaps, a future profit margin leap, and an earnings valuation multiple that raises eyebrows are the secrets underpinning this ambitious price target. Dive in to uncover which projections truly power the current fair value estimate.
Result: Fair Value of $16.94 (UNDERVALUED)
Have a read of the narrative in full and understand what’s behind the forecasts.
However, heavy ongoing losses and rising operating expenses could derail SoundHound AI’s profitability path if revenue growth slows or customer wins are not maintained.
Find out about the key risks to this SoundHound AI narrative.
Looking at SoundHound AI’s valuation using its price-to-sales ratio tells a different story. The company trades at 31.8 times sales, much higher than peers averaging 15.9 and the US Software industry at just 4.6. The market’s fair ratio for this metric is 9 times sales, suggesting investors are paying a steep premium for future growth. Does this premium mean big upside remains, or is there risk if growth slows?
See what the numbers say about this price — find out in our valuation breakdown.
NasdaqGM:SOUN PS Ratio as at Nov 2025
If you have a different angle or want to dig into the numbers on your own terms, shaping your personal view is quick and simple. Do it your way.
A great starting point for your SoundHound AI research is our analysis highlighting 1 key reward and 2 important warning signs that could impact your investment decision.
Stay ahead of the curve by actively seeking new opportunities and diversifying your strategy. Don’t let unique winners pass you by while you wait.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include SOUN.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
KLCC Property Holdings Berhad stock has seen its consensus analyst price target rise slightly from MYR 8.83 to MYR 8.95 per share. This upward revision comes as analysts factor in a lower discount rate, now at 8.56% compared to 8.82%, along with marginally improved expectations for revenue growth. To understand what is shaping this optimistic shift and how it reflects analyst views on the company’s stability and future prospects, read on to learn how you can stay ahead of changing narratives in the KLCC Property Holdings Berhad market.
Analyst Price Targets don’t always capture the full story. Head over to our Company Report to find new ways to value KLCC Property Holdings Berhad.
Analyst coverage on KLCC Property Holdings Berhad continues to inform investor sentiment, with recent target price revisions and updated commentary reflecting both the strengths and ongoing uncertainties surrounding the company’s outlook. The following sections break down the latest takeaways from the Street.
🐂 Bullish Takeaways
Some analysts are rewarding the company for improved revenue growth expectations and evidence of solid underlying stability.
Recent forecasts have incorporated a lower discount rate, which highlights increased confidence in the company’s risk profile.
Execution and cost management remain key strengths, as incremental improvements have contributed to a modest upward price target revision.
Despite cautious tones, neutral and bullish analysts acknowledge the company’s ability to maintain steady growth in challenging market conditions.
Valuation remains balanced; however, optimism is tempered by the fact that much of the perceived upside may already be reflected in current pricing.
🐻 Bearish Takeaways
Some analysts express reservations about the pace and sustainability of revenue growth and warn that near-term risks could moderate performance.
Concerns persist around whether valuations fully account for potential headwinds, and further upside could be limited if these risks materialize.
While the majority of commentary points to stability, there is an emphasis on monitoring for signals of market volatility or operational challenges that could impact the company’s forward trajectory.
Overall, analyst opinions reflect a cautiously constructive stance on KLCC Property Holdings Berhad’s valuation and growth prospects, with consensus building around steady execution while maintaining an awareness of external and internal risks shaping future performance.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there’s more to the story. Head to the Simply Wall St Community to discover more perspectives or begin writing your own Narrative!
KLSE:KLCC Community Fair Values as at Nov 2025
KLCC Property Holdings Berhad has announced the appointment of Encik Ahmad Hakimi bin Muhammad Radzi as the new Chief Financial Officer, effective 1 November 2025. He will take over the role from Encik Rohizal bin Kadir, who will be reassigned within the Group.
The Board has declared a Second Interim Dividend of 1.96 sen per ordinary share for the financial year ending 31 December 2025. This dividend is scheduled to be paid on 30 September 2025 to shareholders who are eligible as of the record date.
Consensus Analyst Price Target has risen slightly from MYR 8.83 to MYR 8.95 per share.
The Discount Rate has declined from 8.82% to 8.56%, reflecting a modest reduction in risk premium.
The expectation for Revenue Growth has increased from 3.15% to 3.24%.
Net Profit Margin is now forecasted at 45.75%, down from the previous estimate of 46.62%.
The Future P/E Ratio has risen modestly from 23.34x to 23.90x.
Narratives offer a smarter, story-driven way to invest. They let users connect the real-life story of a company to future financial forecasts and fair value, all in a single place. On Simply Wall St’s Community page, millions of investors use Narratives to see how changing news or results affect their investment decisions and to compare fair value with the current price. This helps them spot the best moments to buy or sell, with information dynamically updated as new details emerge.
Read the original narrative for KLCC Property Holdings Berhad and see what matters most right now: KLCC: Future Stability Will Depend On Sustained Occupancy And Margin Resilience
Tracks how changes in financing costs and occupancy may affect profit margins and future growth.
Summarizes the impact of KLCCP’s diverse portfolio on resilience and income amid a shifting market.
Highlights what could change the outlook, including industry shifts and how new acquisitions shape the company’s fair value.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include KLCC.klse.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
VICI Properties (VICI) has recently caught the attention of investors following its latest performance numbers. The real estate investment trust posted annual revenue growth of 3% and net income growth of 5%. These trends invite a closer look at current valuation.
See our latest analysis for VICI Properties.
This year, shares of VICI Properties have gradually lost momentum, with the 1-year total shareholder return slipping to -5.53%. The short-term share price return sits just below flat, but over the past five years, investors still hold a substantial 45% gain. Recent weakness may reflect changing sentiment or sector pressure. However, the broader picture points to solid long-term value for those who have stayed the course.
If you’re looking for more investing ideas beyond real estate, now could be the perfect time to broaden your search and discover fast growing stocks with high insider ownership
With VICI now trading at a notable discount compared to analyst targets and a strong five-year return, the question remains: Is the current price a genuine buying opportunity, or has the market already priced in future growth?
At $28.82, VICI Properties trades meaningfully below its most widely followed fair value estimate, enticing investors with the potential for substantial upside if assumptions hold true.
Inflation-protected leases, disciplined funding, and strategic acquisitions position VICI for resilient earnings, dividend growth, and long-term asset value expansion. Structural shifts in consumer spending toward experiences such as travel, sports, group events, and entertainment are expanding opportunities in VICI’s experiential and non-gaming real estate segments, creating new revenue streams, lowering tenant concentration risk, and providing a long runway for top-line growth.
Read the complete narrative.
Want to know what bold projections are powering this potential 22% upside? The linchpin of this narrative is an impressive combination of future growth, margin profiles, and a profit multiple that could reset investor expectations. Uncover which key assumptions hold the secret to this valuation; only the full narrative reveals the complete story.
Result: Fair Value of $36.91 (UNDERVALUED)
Have a read of the narrative in full and understand what’s behind the forecasts.
However, ongoing shifts toward online gaming and reliance on a handful of major tenants could challenge VICI’s future growth narrative if conditions change.
Find out about the key risks to this VICI Properties narrative.
If you have a different perspective or want to take a hands-on approach, you can quickly shape your own view in just a few minutes. Do it your way.
A great starting point for your VICI Properties research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.
Don’t let opportunities slip away. Smart investors are taking action now by expanding their search beyond the obvious. The next market winner could be just a click away on Simply Wall Street.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include VICI.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
