-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：OpenAI和微軟宣布對其合作協議進行重大調整，允許OpenAI限制支付給微軟的收入分成，並可向包括亞馬遜和谷歌在內的任何雲端服務提供商的客戶提供服務。 OpenAI將繼續向微軟支付20%的收入分成，直至2030年，但需設定總額上限；而微軟將不再向OpenAI支付收入分成。儘管失去了獨家合作權，微軟仍保留了OpenAI智慧財產權的許可，並繼續作為OpenAI的主要雲端服務供應商，擁有優先託管新工作負載的權利。此次重組預計將透過免除向OpenAI支付收入分成來提高微軟在Copilot等人工智慧服務上的利潤率。我們認為，這種更平衡的合作結構有助於提升長期可持續性，同時，微軟持有OpenAI 27%的股份以及持續的知識產權使用權，確保其即使在亞馬遜和谷歌等雲端服務提供商的競爭日益激烈的情況下，也能憑藉OpenAI的成功而保持戰略優勢。
Related Articles
Insider Trading
Lifestance Health Group Insider Sold Shares Worth $492,400, According to a Recent SEC Filing
Robert Bessler, Director, on April 23, 2026, sold 69,899 shares in Lifestance Health Group (LFST) for $492,400. Following the Form 4 filing with the SEC, Bessler has control over a total of 1,485,228 common shares of the company, with 57,619 shares held directly and 1,427,609 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1845257/000119312526182153/xslF345X05/ownership.xml
$LFST
Australia
Celestica Q1 Adjusted Earnings, Revenue Rise; Q2 Guidance Set
Celestica (CLS) reported Q1 adjusted earnings late Monday of $2.16 per diluted share, up from $1.20 a year earlier.Analysts polled by FactSet expected $2.07.Revenue for the three months ended March 31 was $4.05 billion, up from $2.65 billion a year earlier.Analysts surveyed by FactSet expected $4.04 billion.For Q2, the company expects adjusted EPS of $2.14 to $2.34 on revenue of $4.15 billion to $4.45 billion. Analysts expect EPS of $2.13 on revenue of $4.17 billion.The company now expects 2026 adjusted EPS of $10.15 on revenue of $19 billion, revised from $8.75 and $17 billion, respectively, expected earlier. Analysts expect EPS of $8.93 on revenue of $17.34 billion.
$CLS
Research
Research Alert: CFRA Keeps Buy Opinion On Shares Of Ameriprise Financial, Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target price of $550, valuing AMP shares at 12.5x our 2026 adjusted EPS estimate of $43.84 (raised by $1.34) and at 11.7x our 2027 EPS estimate of $46.90 (raised by $0.70). This compares to the three-year average forward multiple of 12x and peer average of 15.5x. AMP posted Q1 2026 adjusted operating EPS of $11.26 vs. $9.50, a 19% rise that topped our $10.12 estimate and $10.21 consensus view. Revenue growth of 11% exceeded our forecast and our 6%-10% growth forecast for 2026, while pretax adjusted operating margins expanded 130 bps to 28% on revenue gains and cost containment efforts. We now see revenue growth of 7% to 12% in 2026 and 2027. AMP also continued its substantial capital return program, returning $936M to shareholders in Q1 (70% of adjusted operating earnings) and $3.4B in 2025 (88% of earnings). Currently trading at 10.9x our 2026 EPS estimate, and with some decent revenue and earnings momentum, we view the shares as undervalued versus peer and historical averages.
$AMP