Top Research Reports for Amazon.com, Wells Fargo & Amgen

Thursday, October 23, 2025

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 Amazon.com, Inc. (AMZN), Wells Fargo & Co. (WFC) and Amgen Inc. (AMGN), as well as two micro-cap stocks IDT Corp. (IDT) and Village Super Market, Inc. (VLGEA). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.

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

The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.

You can read today's AWS here >>> Pre-markets Mostly Lower on Biggest Earnings Day of the Week

Today's Featured Research Reports

Amazon.com’s shares have outperformed the Zacks Internet - Commerce industry over the past year (+18.1% vs. +17.6%). The company’s top-line is driven by steady momentum in Prime and AWS. Strengthening AWS services portfolio and its growing adoption rate is contributing well to AWS performance. Ultrafast delivery services and expanding content portfolio are beneficial. 

Strengthening relationships with third-party sellers is a positive. Robust advertising business is also contributing well. Growing capabilities in grocery, pharmacy, healthcare and autonomous driving are other positives. Deepening focus on GenAI is a major plus. 

The Zacks analyst expect 2025 net sales to grow 10.6% from 2024. However, weak third-quarter operating income guidance of $15.5-20.5 billion and concerns about margin pressure from heavy AI investments totaling $100+ billion in capital expenditure plans are overhangs. Elevated operating expenses amid intensifying cloud competition remain headwinds.

(You can read the full research report on Amazon.com here >>>)

Shares of Wells Fargo have gained +33.5% over the past year against the Zacks Financial - Investment Bank industry’s gain of +36.2%. The company’s third-quarter 2025 results benefited from an improvement in net interest income (NII), fee income and lower provisions. Its earnings surpassed the estimates in each of the trailing four quarters. 

The Fed's June 2025 removal of the $1.95 trillion asset cap allows growth in deposits, loans and fee-based services. After clearing the 2025 Fed stress test, Wells Fargo raised its dividend, backed by strong liquidity and capital position. Also, strategic investments in talent and technology support long-term growth. 

Yet despite the recent Fed rate cut, NII recovery may remain slow, pressuring near-term revenue growth. The mortgage banking income remains weak amid ongoing mortgage rate volatility. Also, rising technology and compensation costs may weigh on profitability.

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

Amgen’s shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the year-to-date period (+15.4% vs. +11.1%). The company’s key medicines like Evenity, Repatha and Blincyto and newer medicines like Tavneos and Tezspire, are driving sales, more than offsetting declining revenues from oncology biosimilars and mature products like Enbrel. 

New biosimilar launches are also contributing to growth. Amgen has some key pipeline assets with a focus on the obesity candidate, MariTide. Data from studies on MariTide are expected in the fourth quarter. However, increased pricing headwinds and competitive pressure are hurting sales of many products. 

Weakness in some key brands like Otezla and Lumakras creates potential revenue strains. Sales of best-selling drugs Prolia and Xgeva are expected to decline from the second half of 2025 due to biosimilar competition. Estimates have declined ahead of Q3 results. Amgen has a positive record of earnings surprises in recent quarters.

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

Shares of IDT have gained +6.5% over the past year against the Zacks Diversified Communication Services industry’s gain of +10.2%. This microcap company with a market capitalization of $1.25 billion has scalable, high-margin platforms — NRS, BOSS Money and net2phone — which drive sustained EBITDA and cash flow growth. NRS recurring revenues rose 27% with expanding margins and POS growth, positioning for deeper monetization via digital coupons.

BOSS Money’s digital pivot lifted EBITDA, aided by margin expansion and WhatsApp integration. net2phone’s AI rollout supports 54% EBITDA growth and rising ARPU. Core communications remain a cash engine funding growth. Strong liquidity ($253.8 million, no debt) and a 43% EBITDA increase underpin flexible capital returns. 

Risks include working-capital drag, customer concentration, pricing elasticity and rising CapEx intensity. The valuation suggests investors can access strong earnings growth and cash generation at a discounted entry point, offering significant multiple expansion potential.

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

Village Super Market’s shares have gained +15.4% over the past year against the Zacks Retail - Supermarkets industry’s gain of +30.1%. This microcap company with market capitalization of $488.08 million delivered strong FY25 results, with 12% net income growth to $56.4 million, driven by 2.1% same-store sales gains, digital adoption, and pharmacy strength.

Operating margin held firm at 23.95% due to labor and occupancy efficiencies. Strategic store replacements — like the larger-format Watchung and Old Bridge locations — boosted productivity and fulfillment. FY26 includes another replacement store in East Orange. A healthy balance sheet with $110.7 million in cash and reduced debt offers financial flexibility. Dividends remain consistent and sustainable, with a low payout ratio (<25%).

Village’s mix of urban and suburban formats enables targeted customer engagement. Risks include legal disputes with Wakefern, internal cannibalization, labor contract expirations, cybersecurity dependence, and margin pressures from inflation. Shares trade at 0.18x EV/sales vs. 1.22x for peers. 

(You can read the full research report on Village Super Market here >>>)

Other noteworthy reports we are featuring today include RTX Corp. (RTX), Marsh & McLennan Companies, Inc. (MMC) and América Móvil, S.A.B. de C.V. (AMX).

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>>>

Today's Must Read

Amazon (AMZN) Banks on Prime Momentum & Growing AWS Adoption

Asset Cap Lift Supports Wells Fargo (WFC), Rising Costs a Woe

Amgen (AMGN) Well-Poised for Growth on a Solid Pipeline

Featured Reports

Defense Orders Drive RTX Corporation (RTX), Despite Supply Chain Woes
Per the Zacks analyst, RTX is likely to benefit from increasing defense order growth from the Pentagon and US allies. Yet supply chain issues result in delays and increase costs.

Marsh & McLennan (MMC) Strategic Buyouts Aid, Expenses High
Per the Zacks analyst, multiple acquisitions help Marsh & McLennan expand geographically and diversify its portfolio. However, escalating expenses remain a concern.

Smucker (SJM) to Continue Gaining from Coffee Business Strength
Per the Zacks analyst, Smucker is likely to gain from strength in its coffee business, thanks to Folgers and Cafe Bustelo brands. In first quarter, coffee unit sales grew 15% driven by solid pricing.

AI Tax Assist Benefits H&R Block (HRB) Amid Low Liquidity
Per the Zacks Analyst, integration of a generative AI-powered technology, AI Tax Assist, in H&R Block's DIY tax preparation boosts top line. Low liquidity is concerning.

Spec Home Strategy Benefits Meritage Homes (MTH) Amid Macro Risks
Per the Zacks analyst, Meritage Homes is gaining from its speculative homebuilding strategy and land investments. However, housing market weakness and high costs are a hindrance.

R&D Focus & MedTech Strength Aid Integer Holdings (ITGR), Amid Risks
Per the Zacks analyst, Integer Holdings' strong R&D focus and solid presence in the MedTech space drive optimism. However, heavy regulation, competition, and supplier dependence remain concerns.

Global Reach & Inverter Shipments Aid SolarEdge Technologies (SEDG)
Per the Zacks analyst, SolarEdge Technologies benefits from its expanding production facilities and increased global footprint. Consistent inverter shipments will boost its performance.

New Upgrades

America Movil (AMX) Gains from Rising Subscriber Engagement
Per the Zacks analyst, America Movil's performance is benefiting from an uptick in broadband client base and wireless subscribers. An augmented 5G footprint is a tailwind.

Strong Adoption of Automated Solutions Aids Teradyne's (TER) Prospects
Per the Zacks analyst, Teradyne benefits from strong adoption of automated solutions that is automating semiconductor customers' back-end processes.

Alkermes (ALKS) Rides on Robust Sales Performance of Proprietary Drugs
Per the Zacks analyst, Alkermes' top line is being driven by the sales of its proprietary drugs, Vivitrol, Aristada and Lybalvi. The company is also making good progress with its pipeline development.

New Downgrades

Liberty Energy (LBRT) Hurt by Slowdown in Industry's Frac Activity
The Zacks analyst highlights challenges for Liberty Energy's earnings growth due to slowdown in industry's frac activity including market pricing pressures.

North American Slowdown to Pressure Halliburton (HAL)
The Zacks analyst believes that reduced spending and a cautious stance by North American operators could pressure Halliburton's onshore activity and pricing.

Subdued Truck Market & Tariffs Woes to Dent PACCAR's (PCAR) Margins
Weak truck deliveries, tariff costs, and input inflation are likely to pressure PACCAR's near-term margins amid a sluggish freight recovery, making the Zacks analyst bearish on the stock.

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This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research