Asset Management and Custody Banks

Ameriprise Financial

Costco

Conference Minutes

COST

DASH

UBER

OPEN

OPENL

OPENW

OPENZ

Below is Dolphin Research's full earnings call Trans for $Costco Wholesale(COST.US) FY26 Q1. For our First Take, see 'US Gov. shutdown victim? Is Costco's last leg down?'1) Key metrics recap. Headline results: net income of $2.001bn and diluted EPS of $4.50.Excluding tax benefits related to SBC, net income and EPS rose 13.6% YoY. Sales: net sales were $65.98bn (+8.2% YoY), with comps up 6.4%...

Costain Group PLC

Costco Wholesale

Doordash

Uber Tech

Signet

Opendoor Tech

Opendoor Tech Series A - CW26

Opendoor Tech Series K - CW26

Opendoor Tech Series Z - CW26

COST (Trans): Confident on inflation; plans to open 30 warehouses annually.

DELL

TECH

MSFT

MSFL

MSFO

MSFD

MSFU

MSFX

MSFY

COMP

The following are the minutes of Dell's FY2026 Q3 earnings call organized by Dolphin Research. For earnings interpretation, please refer to &#34;Dell DELL: Storage Price Hike Adds Pressure? AI Guidance Provides Support Again.&#34; 1. $Dell Tech(DELL.US) Key Financial Information Review 1. Cash Flow and Capital Return a. Cash Flow: Operating cash flow of $1.2 billion, with an ending cash and investment balance of $11.3 billion (an increase of $1.6 billion quarter-over-quarter). b. Shareholder Return: $1.6 billion returned this quarter (repurchase of 8.9 million shares + dividend distribution)...

Dell Tech

Bio-Techne

Microsoft

Micron Tech

C3.AI

GraniteShares 2x Long MSFT Daily ETF

YieldMax MSFT Option Income Strategy ETF

Direxion Daily MSFT Bear 1x Shares

Direxion Daily MSFT Bull 2X Shares

T-Rex 2X Long Microsoft Daily Target ETF

Kurv Yield Premium Strategy Microsoft MSFT ETF

Compass

Dell (Minutes): The company's value lies in the overall solutions at level L11 and above.

Alibaba

09988

89988

BABA

KBAB

BABO

BABX

HBBD

The following are the minutes of Alibaba's FY26Q2 earnings call organized by Dolphin Research. For an interpretation of the financial report, please refer to &#34;AI Shapes the Soul, Consumption Shapes the Root, Has Alibaba Finally Stood Up?&#34; 1. Review of Core Financial Information 2. Detailed Content of the Earnings Call Core Information from Management Statements 1. Progress of the &#34;AI + Cloud&#34; Strategy a. Performance: Driven by strong demand for AI, Alibaba Cloud's external commercialization revenue accelerated to a growth of 29%. Revenue from AI-related products achieved triple-digit year-on-year growth for nine consecutive quarters. Market share has comprehensively increased in several sub-sectors (hybrid cloud, financial cloud)...

BABA-W

BABA-WR

KraneShares 2x Long BABA Daily ETF

YieldMax BABA Option Income Strategy ETF

BABA 2x Long Daily ETF - GraniteShares

Urban Edge Properties

MediaAlpha

Alibaba HK SDR 5to1

Alibaba (Minutes): No AI bubble within three years, Flash Sale UE losses have halved from the peak

MINISO

Financial Analysis

09896

MNSO

09987

YUMC

On the afternoon of November 21st, Beijing time, $Miniso(MNSO.US) $MNSO(09896.HK) Miniso (9896.HK) (MNSO.N) released its Q3 2025 earnings. By closing inefficient small stores and focusing on larger ones, the company's same-store revenue growth further expanded after turning positive in the second quarter. However, a concerning aspect is the increased expenses associated with store openings in the United States during the third quarter, which impacted the release of profits...

TOP Fin

Miniso

YUM CHINA

YUM China

MINISO: Revenue "Money Printing Machine," Spending "Shredder"?

Kuaishou

01024

81024

00700

AIGC

TCEHY

TCTZF

80700

HTCD

The following is the content of the 3Q25 earnings call minutes for $KUAISHOU-W(01024.HK) organized by Dolphin Research. For financial report interpretation, please refer to &#34;Kuaishou: Saying Goodbye to 'Rustic' Valuation, Still Relying on KOLs.&#34; 1. Review of Core Financial Information: Total revenue for the third quarter increased by 14.2% year-on-year to RMB 35.6 billion, with core commercial business (online marketing services and other services, mainly e-commerce) revenue growing by 19.2% year-on-year. Driven by stable revenue performance, operating profit increased by 69.9% year-on-year to RMB 5.3 billion...

KUAISHOU-W

KUAISHOU-WR

TENCENT

WisdomTree Broad Commodities

Tencent

Tencent Holdings Limited

TENCENT-R

Tencent HK SDR 10to1

Kuaishou (Minutes): Impact of Competition? Kuaishou's short-term growth may slow down more than expected.

Xiaomi

HXXD

01810

81810

XIACY

The following are the minutes of Xiaomi's Q3 2025 earnings call organized by Dolphin Research. For an interpretation of the financial report, please refer to &#34;Xiaomi: Without Subsidies, Can Cars Really Hold Up the Front?&#34; 1. $XIAOMI-W(01810.HK) Core Data Review Performance Overview: Total Revenue: Reached RMB 113.1 billion, a year-on-year increase of 22.3%. This marks the fourth consecutive quarter that the group's revenue has exceeded RMB 100 billion. Group Gross Margin: 22.9%, an increase of 2.5 percentage points year-on-year, setting a new historical high. Adjusted Net Profit: RMB 11.3 billion, a year-on-year increase of 81%...

Xiaomi HK SDR 2to1

XIAOMI-W

XIAOMI-WR

Xiaomi Corporation

Hudbay Minerals

Pros

Xiaomi (Minutes): Rising storage costs have a greater impact on manufacturers with lower ASP.

HTHT

01179

On 17 November 2025 Beijing time, prior to the US market open, Huazhu (1179.HK/HTHT.O) $HWORLD-S(01179.HK) $H World(HTHT.US) released its Q3 2025 financial report. Driven by robust leisure travel demand and the advancement of its asset-light transformation strategy, the company's overall performance continued to improve, exceeding market expectations. Key highlights include: 1. RevPAR showed sequential recovery. Examining the core operational metric of revenue per available room (RevPAR)...

HWORLD-S

H World

Optical Cable

Definitive Healthcare

Huazhu: Deep Squat and Jump! Huazhu Remains the Industry Leader

Ctrip

09961

TRIP

K3RD

TCOM

TAIL

EXPE

RISE

HTGD

The following are the minutes of the FY25Q3 earnings call for $Trip.com(TCOM.US) organized by Dolphin Research. For an interpretation of the earnings report, please refer to &#34;Trip.com: Awaiting the Release of Overseas Profits.&#34; I. Review of Core Financial Information II. Detailed Content of the Earnings Call 2.1 Key Information from Executive Statements 1. Strong Market Demand: The global tourism industry is booming, with travel enthusiasm surging. Travel demand is skyrocketing, primarily driven by the robust vitality of domestic tourism in China and the steady recovery of outbound travel. Travelers are actively exploring new destinations, seeking authentic and in-depth cultural experiences...

TRIP.COM-S

Tripadvisor

TRIP ADR US+

Direxion Auspice Broad COM

Trip.com

Planet Labs

Reliance

Cambria Tail Risk

ING Groep

Expedia

Rise Oil & Gas, Inc.

Trip.com HK SDR 50to1

Ctrip (Minutes): Marketing expenses will continue to rise in the peak season of 4Q

Disney

01913

SBDS

CVAC

The following are the minutes of the 4Q25FY earnings call for $Disney(DIS.US) compiled by Dolphin Research. For a review of the earnings report, please refer to the article &#34;Disney: Short-term Pressure but Guidance Unchanged, Can Iger Turn the Tide Before Leaving?&#34;1. Review of Core Financial Information1. DTC Net User Growth Rebounds Beyond Expectations: Streaming user growth continued to rebound in the fourth quarter, with Disney+ adding 4 million net new users (bundled packages) and Hulu adding 8.6 million (driven by the resumption of the Charter partnership and global brand expansion), both exceeding market expectations. The growth was mainly driven by high-quality content...

PRADA

Solo Brands

Dayforce

Ashland

Citigroup

CureVac BV

Dominion Energy

NextDecade

PAR Tech

Disney (Minutes): Committed to double-digit percentage growth in earnings next year

应用材料AMAT

SOXS

SOXL

SOXX

CP00062

NVDA

AMAT

NVDL

07788

07388

NVDY

NVDD

NVDX

NVDQ

WEST

The following are the minutes of the AMAT FY2025 Q4 earnings call organized by Dolphin Research. For an interpretation of the earnings report, please refer to the article titled 'Storage is 'Red Hot', Can Applied Materials (AMAT) Benefit?' 1. $Applied Materials(AMAT.US) Key Financial Data Review Revenue: FY2025 revenue grew by 4% to $28.4 billion; Q4 revenue exceeded the midpoint of expectations. Revenue by business segment: Semiconductor Systems revenue grew by 4%. Applied Global Services (AGS) revenue grew by 3% to $6.4 billion...

Direxion Semicon Bear 3X

Direxion Semicon Bull 3X

iShares Semiconductor ETF

Semiconductor

NVIDIA

Applied Materials

PlayAGS

GraniteShares 2x Long NVDA Daily ETF

XL2CSOPNVDA

XI2CSOPNVDA

YieldMax NVDA Option Income Strategy ETF

Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Long NVIDIA Daily Target ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

Westrock Coffee

Applied Materials AMAT (Minutes): Stable in the first half of next year, growth concentrated in the second half.

AmTrust Financial Reports Exceeding EPS in Q3

Mapeley Financial Reduces Stake in Coca-Cola

Meri Financial Increases Stake in Salesforce

Ameriprise Financial Inc. Reduces Oracle Stock in Q2

Amperix Financial Increased Accenture Holdings in Q2

Ameriprise Financial Acquires 5.092% Voting Rights of Microlise Group PLC

Axa S.A. Reduces Stake in Ameriprise Financial; EPS Exceeds Expectations

Amperity Financial Reports Strong Q3 2025 Earnings

Quadrant Capital Increased Holdings in Ameriprise Financial

Boston Partners Increases Stake in Ameriprise Financial

Merrill Lynch Director Reports Sale of Company Common Stock

Jefferies Analyst Maintains Buy Rating on Ameriprise Financial with a Price Target of $594

AM Best Confirms Credit Ratings for Ameriprise Financial and Its Subsidiaries

Argus Research and RBC Capital Maintain Buy Rating for Ameriprise Financial