――3月の米国耐久財新規受注は0.8％増加（市場予想は0.5％増）、前月は1.2％減少

Research Alert: Vmc Q1: Beats Across The Board Led By Increases In Volumes And Pricing

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Vulcan Materials delivered strong Q1 2026 results with adjusted EPS of $1.35 (+35% Y/Y, +22.4% vs. consensus) and adjusted EBITDA of $447M (+8.8%, +7.9% vs. consensus). Total revenues grew 7.4% to $1,756M (+8.1% vs. consensus), underpinned by 5% aggregates volume growth and 4% pricing gains. The aggregates strategy demonstrates effectiveness with unit profitability enhancement, as cash gross profit per ton improved to $10.93 despite cost pressures. Management reaffirmed 2026 adjusted EBITDA guidance of $2.4B-$2.6B, citing healthy demand fundamentals and strong execution momentum. Portfolio optimization includes Houston asphalt divestiture and pending California ready-mix sale, aligning with the strategy to focus on higher-return aggregates opportunities. We believe the company's robust balance sheet with 1.9x debt-to-EBITDA ratio and $217M returned to shareholders demonstrates balanced capital allocation, while strong financial flexibility supports continued value creation.

Brief: Bank of Canada Governor's Press Conference Ends

Etsy Tops First-Quarter Sales Views, Swings to Earnings

Etsy's (ETSY) first-quarter revenue rose more than Wall Street's expectations, helping the online marketplace swing to earnings.Revenue for the March quarter increased to $631.3 million from $612.2 million and surpassed the FactSet-polled consensus of $619.6 million. Etsy swung to first-quarter earnings of $0.89 per share from a loss of $0.33 per share a year earlier.Gross merchandise sales, which measures the total dollar amount of items sold on the platform, grew 5.5% to $2.46 billion on a non-GAAP basis.The metric for continuing operations, which exclude Depop's results, fell 3.9%. Etsy in February agreed to sell fashion marketplace Depop to eBay (EBAY) for $1.2 billion. Additionally, Reverb's results are included in last year's continuing operations, but not in the March 2026 quarter. Reverb was sold in June 2025.Analysts expected GMS of $2.44 billion."We are beginning to see early improvements in customer behavior that reflect progress against our strategy: active buyers grew sequentially for the first time in two years, though still down from the prior year, and we delivered year-over-year growth in new buyers, active sellers, and GMS per buyer, alongside continued momentum in our mobile app," according to a shareholder letter.Shares of Etsy were up 11% intraday Wednesday. The stock has gained about 26% so far this year.For the current quarter, the company is projecting GMS of $2.48 billion to $2.53 billion, representing a 3% to 5% year-over-year growth for the Etsy marketplace. The Street is looking for $2.45 billion."For the full year, we now anticipate that GMS growth will be in the low single-digit range, as our outlook for the Etsy marketplace has improved relative to the full year commentary provided in mid-February," the company said.The company previously anticipated "slight" year-over-year growth in 2026 GMS.Price: $67.97, Change: $+4.76, Percent Change: +7.53%