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While investors’ attention is focused primarily on chipmakers and data center operators, another group of winners is rising in the background. Goldman Sachs is profiting from major acquisitions, IPOs, debt issuances, shifts in investor capital, and the financing of new infrastructure. The latest results have shown just how strong a position the bank has built in this environment. Behind the record numbers, however, lies a broader story about who is actually profiting from the current investment cycle.

General Mills presents both hard numbers and an unpleasant reality. In the fourth quarter of 2026, it delivered adjusted results in line with expectations but also reported a significant accounting loss following large write-downs of brand assets, which dragged the full year into an overall loss. The company is therefore combining stable adjusted results with an aggressive plan to boost efficiency, aiming to gradually save a total of $3 billion in costs by fiscal year 2030.

Nike beat Wall Street expectations, but only at first glance, as profits were largely driven by a one-time customs refund, and the core business remains under pressure. The results for the fourth fiscal quarter of 2026 therefore do not show a clear return to growth, but rather a company that is stabilizing its margins and finances, while revenue, China, and direct sales are still lagging.

The third-quarter 2026 results showed strong earnings but a slower pace of revenue growth, and the market reacted by selling off shares. Investors thus made it clear that for a company of this type, it is no longer enough to simply exceed profit expectations; the quality of growth, the outlook, and the ability to sustain demand amid a slowdown in corporate IT budgets are also decisive factors.

CarMax has taken an important step in a challenging economic environment and released its financial results for the first quarter of fiscal year 2026. The largest U.S. used-car dealer reported solid revenue growth driven by higher demand. New CEO Keith Barr unveiled a four-pillar strategy focused on price competitiveness and operational efficiency. For shareholders, this is an important signal of the company’s ability to grow in volume while simultaneously reducing overall operating costs. This makes it all the more interesting that higher revenue did not translate into a commensurate increase in net profitability.