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Businessweek
Cars, Cognac and Trash: 10 Companies to Watch Right Now
Q4 2025
Following our list of 50 Companies to Watch in January and quarterly updates in April and July, here are 10 names you should know—for better or worse—specifically for the fourth quarter. Bloomberg Intelligence analysts have dug into their scenarios to identify the most interesting companies from their high-confidence Focus Ideas. Spanning sectors and regions, each scenario outlines a catalyst in the coming months that supports our case.
Bloomberg Terminal users can track the performance of stocks in our annual list with the Bloomberg Businessweek 2025 Companies to Watch indexes. The roster of companies BI deemed to have a sunny outlook would have provided a net return of 28% so far this year,* while our pessimistic list is up 20%. And both of them beat the S&P 500, which has climbed 13%. —Tim Craighead
For more information on Bloomberg Intelligence, please visit www.bloomberg.com/bi
ADCB (Abu Dhabi Comm Bank)
Outlook ☀️
A robust pipeline of building projects in the Persian Gulf region should propel strong loan growth for ADCB, one of the biggest banks in the United Arab Emirates. In September it increased its capital by $1.7 billion, giving it more lending power—which should help the bank beat management’s target of 10% growth in earnings per share through 2027.
—Edmond Christou
Data Sheet
Market cap
28
Estimated 2025 sales
5.8
Forecast sales growth
10%
Group Chief Executive Officer
Alaa Mohammed Atta Khalil Eraiqat
Legal name
Abu Dhabi Commercial Bank P.J.S.C.
Triggers
- Upgrades in 2026 profit estimates could follow ADCB’s results announcement in late October.
ArcelorMittal
Outlook ☁️
Analyst predictions that the steelmaker’s operating profit will climb next year appear overly optimistic, given soft demand in the auto and machinery sectors across Europe and the US. The prospect of rising trade barriers further dims the outlook for ArcelorMittal.
—Alon Olsha
Data Sheet
Market cap
31
Estimated 2025 sales
62
Forecast sales growth
-1%
Executive Chairman/Founder
Lakshmi Mittal
Legal name
ArcelorMittal
Triggers
- Monthly steel production statistics and trade talks between the Trump adminstration and its counterparts in Canada and the European Union should signal any change in ArcelorMittal’s business.
China Overseas Land & Investment
Outlook ☁️
As housing markets in China’s biggest cities continue to slump, new contracts for the developer risk dropping by 20% this year, with weakness continuing in 2026. This suggests sales and profit margins below the analyst consensus and management’s target.
—Patrick Wong
Data Sheet
Market cap
20
Estimated 2025 sales
26
Forecast sales growth
1%
Chairman/Exec Dir
Yan Jianguo
Legal name
China Overseas Land & Investment Limited
Triggers
- Interim financial results coming in late October will likely provide evidence of more weakness in earnings.
Rémy Cointreau
Outlook ☀️
After almost three years of declining profits, the cognac and spirits maker’s fortunes are finally starting to turn. Rémy Cointreau has managed to sell through its excess supply in the US, and fears of higher tariffs in China appear to have been overblown, auguring increased sales in both countries next year.
—Duncan Fox
Data Sheet
Market cap
2.8
Estimated 2025 sales
1.1
Forecast sales growth
-2%
Chief Executive Officer
Franck Marilly
Legal name
Remy Cointreau
Triggers
- A sales update in late October should confirm a recovery in sales growth, and earnings to be announced in November will highlight any tariff impacts.
TechnipFMC
Outlook ☀️
Orders for the pipe networks Technip supplies to link offshore oil and gas platforms are climbing, and consensus earnings estimates for 2026 don’t reflect that growth. Those contracts offer higher profit margins than onshore work: The company’s $15.8 billion in orders for such projects—95% of its total backlog—should boost profitability next year as construction progresses.
—Will Hares
Data Sheet
Market cap
16
Estimated 2025 sales
9.9
Forecast sales growth
9%
Chairman/CEO
Douglas J Pferdehirt
Legal name
TechnipFMC Plc
Triggers
- With continued growth in undersea projects, profit margins should show an uptick when Technip releases third-quarter results on Oct. 23.
The Gap
Outlook ☀️
Richard Dickson, the executive who revived Barbie at Mattel Inc., is working to repeat the feat for the clothing retailer. With Old Navy and the Gap sporting cleaner designs and sturdier quality, expectations for 2026 sales and profit margins look too low. And the company is working to offset the higher tariffs it’s facing for products made in Asia.
—Mary Ross Gilbert
Data Sheet
Market cap
7.9
Estimated 2025 sales
15
Forecast sales growth
1%
President/CEO
Richard Dickson
Legal name
The Gap Inc.
Triggers
- New collaborations, partnerships and social media campaigns in coming months hint at sales surprises.
TSMC
Outlook ☀️
The world’s leading semiconductor producer is well positioned to benefit from the vast numbers of advanced chips required for the push to build artificial intelligence data centers. TSMC’s expertise in making ultra-power-effectient processors helps support its chip prices, which signals continued sales growth and rising profit margins.
—Charles Shum
Data Sheet
Market cap
1100
Estimated 2025 sales
121
Forecast sales growth
34%
Chairman/CEO
Wei Che-Chia
Legal name
Taiwan Semiconductor Manufacturing Company Ltd.
Triggers
- In the fourth quarter, TSMC will start ramping up shipments of a new AI chip for Nvidia, opening another revenue stream.
Waste Connections
Outlook ☁️
With the economy sluggish, Americans are producing less trash, prices for recycled material are weak, and there’s less waste being produced from shale energy. That suggests Waste Connections won’t quickly bounce back from an earnings slowdown. Its profits and cash flow have expanded by 10%-plus for the past decade, but this year and next the trash hauler is more likely to see growth in the mid-single digits.
—Scott Levine
Data Sheet
Market cap
44
Estimated 2025 sales
9.5
Forecast sales growth
6%
President/CEO/Founder
Ronald J Mittelstaedt
Legal name
Waste Connections Inc.
Triggers
- Lower waste volumes and ongoing costs associated with a closed landfill at Chiquita Canyon north of Los Angeles will come into focus with results expected in late October.
Whirlpool
Outlook ☁️
A falloff in new construction, renovations and existing home sales—combined with weak overseas demand and smaller-than-expected tariff benefits for US-based manufacturers—suggests the appliance maker will miss expectations this year and next.
—Iwona Hovenko
Data Sheet
Market cap
4.3
Estimated 2025 sales
16
Forecast sales growth
-7%
Chairman/President/CEO
Marc Robert Bitzer
Legal name
Whirlpool Corp.
Triggers
- Data released throughout the fourth quarter will likely show muted housing activity in the US, indicating anemic appliance sales.
Xiaomi
Outlook ☀️
The mobile phone and consumer electronics producer has added electric vehicles to its portfolio and is quickly becoming one of China’s favorite auto brands. With a second factory in Beijing now coming online, Xiaomi’s monthly volume should double to about 50,000 cars in coming months. Production is already surpassing expectations, and EVs could account for as much as 30% of total sales in 2026.
—Steven Tseng
Data Sheet
Market cap
179
Estimated 2025 sales
68
Forecast sales growth
33%
Chairman/CEO/Co-Founder
Lei Jun
Legal name
Xiaomi Corporation
Triggers
- Quarterly results in November will likely show increasing sales of the new YU7 SUV, boosting Xiaomi’s profit margin.