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Owner of T.J. Maxx, HomeGoods rings up record sales as consumers keep bargain hunting

TJX shares jumped nearly 4% Wednesday morning after the discount retailer reported strong fourth-quarter earnings results.

Nia Warfield

Shares of TJX jumped 3.5% Wednesday morning after the discount retailer dropped strong fourth-quarter earnings results. TJX, which owns T.J. Maxx, Marshall’s, and HomeGoods, and has built a strong following thanks to its popular marked-down designer merchandise. While revenue came in flat to slightly down compared to the same period last year (which included an extra week!), consolidated same-store sales grew by 5%. Adjusted diluted earnings per share reached $1.23, besting Wall Street’s estimate for $1.16.

It was a banner year for the discount retailer, which notched a record $56.4 billion in sales for the 12 months ending February 1 and opened its 5,000th store. Lower- and middle-income consumers have been moving down-market to discount retailers as they cut back on nonessentials. For its fiscal year 2026 (which started February 2, 2025), TJX projects an additional 2% to 3% jump in consolidated comparable-store sales. The company also plans to boost its dividend by 13% and repurchase $2 billion to $2.5 billion in stock for the 2026 fiscal year.

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Constellation, Talen, and NRG surge as BNP analysts see “golden (AI)ge” ahead for them

Power producers Talen Energy, Constellation Energy, and NRG jumped Wednesday, benefiting in part from a rosy write-up by analysts at BNP Paribas, who launched coverage of all three at “outperform” and argued that the AI energy trade — a big AI-related winner in recent years that has lagged a bit recently — is due for a second wind.

That view was in a broad note on the independent power producer segment of utilities industry that the analysts published Wednesday, titled “The Golden (AI)ge of IPPs.”

Here’s the gist of it:

US independent power producers (IPPs) have lagged the AI basket for 6+ months, after garnering much attention in 2023-1H25. Investors are caught up in the minutia of perceived headwinds: underwhelming pace of power purchase agreement deals, distributed behind-the-meter solutions stealing the ‘time-to-power’ edge, pressure for data centers to bring generation and not tighten the grid, etc.

And yet, as we demonstrate, despite all this noise, the wave of rising load is at the cusp of an acceleration that will nonetheless overwhelm new supply—well into the 2030s, in our view. Hop on or risk missing the resurgent AI trade this decade.

BNP’s price targets for the stocks — Constellation ($407), NRG ($232) and Talen ($549) — implied gains of 32%, 50%, and 68% respectively. (Though today’s gains would reduce those potential upside targets somewhat for new buyers.)

US independent power producers (IPPs) have lagged the AI basket for 6+ months, after garnering much attention in 2023-1H25. Investors are caught up in the minutia of perceived headwinds: underwhelming pace of power purchase agreement deals, distributed behind-the-meter solutions stealing the ‘time-to-power’ edge, pressure for data centers to bring generation and not tighten the grid, etc.

And yet, as we demonstrate, despite all this noise, the wave of rising load is at the cusp of an acceleration that will nonetheless overwhelm new supply—well into the 2030s, in our view. Hop on or risk missing the resurgent AI trade this decade.

BNP’s price targets for the stocks — Constellation ($407), NRG ($232) and Talen ($549) — implied gains of 32%, 50%, and 68% respectively. (Though today’s gains would reduce those potential upside targets somewhat for new buyers.)

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