Thursday, January 22, 2026

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Walmart Inc. (WMT), Morgan Stanley (MS) and SAP SE (SAP). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Ahead of Wall Street

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You can read today's AWS here >>> Jobless Claims Stay Low at +200K, Q3 GDP Up to +4.4%

Today's Featured Research Reports

Walmart’s shares have outperformed the Zacks Retail - Supermarkets industry over the past six months (+25.3% vs. +23%). The company’s performance reflects strong execution across its omnichannel model, with robust store-led fulfillment, solid e-commerce growth and sustained market share gains. 

Third-quarter fiscal 2026 results highlight robust comparable sales, broad-based traffic growth and rapidly expanding higher-margin businesses such as advertising and membership, which represent a meaningful share of operating income. Faster delivery speeds, improved inventory availability and marketplace expansion continue to support e-commerce growth. Managements raised fiscal 2026 view underscores confidence in sustaining growth. 

However, margin expansion remains constrained by elevated operating costs and tariff risks. Currency volatility, intense competition and an ongoing mix shift toward lower-margin essentials amid macroeconomic uncertainty are also concerns. 

(You can read the full research report on Walmart here >>>)

Shares of Morgan Stanley have outperformed the Zacks Financial - Investment Bank industry over the past six months (+30.6% vs. +11.3%). The company’s fourth-quarter 2025 results indicated investment banking (IB) business strength. Its focus on wealth and asset management operations, along with its strategic alliances and acquisitions, will support the top line. 

The deal to buy EquityZen will help it tap the rapidly growing private markets landscape. The performance of the IB business will continue to be driven by a strong pipeline, lower rates and the company’s global footprint. 

However, expenses will remain elevated due to expansion efforts. While trading revenues have been increasing, growth might become challenging in the future because of the volatile nature of the business. Nonetheless, the company’s efficient capital distribution activities reflect a solid balance sheet.

(You can read the full research report on Morgan Stanley here >>>)

SAP’s shares have underperformed the Zacks Computer - Software industry over the past six months (-22.5% vs. -15.6%). The company is facing weak software license revenue and stiff rivalry, along with U.S.-China trade tensions and tariffs, continue to pressure SAP’s license business.

Nevertheless, SAP is riding on healthy Cloud ERP growth and uptake of its Rise with SAP and Grow with SAP solutions amid a volatile macro backdrop. Growing traction in SAP’s Business Suite, Business Data Cloud, AI-driven solutions and integrated platform innovations bodes well. SAP’s fourth-quarter and 2026 pipeline appear strong, driven by renewed momentum across industries. 

AI is poised to be a key catalyst in fueling double-digit total revenue growth through 2027. It raised its 2025 outlook, projecting higher profitability while keeping a cautious view on cloud revenue. Cloud revenue is expected near the low end of €21.6-€21.9 billion, with non-IFRS operating profit near the high end of €10.3-€10.6 billion.

(You can read the full research report on SAP here >>>)

Other noteworthy reports we are featuring today include Uber Technologies, Inc. (UBER), Western Digital Corporation (WDC) and Arthur J. Gallagher & Co. (AJG).

Mark Vickery
Senior Editor

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>