Luke Kennard is headed to Hollywood. The Los Angeles Lakers have acquired the veteran guard from the Atlanta Hawks in a deal that sends point guard Gabe Vincent and a future second‑round pick to Atlanta, giving LeBron James and Luka Dončić another high‑level floor spacer for their playoff push.
Kennard, 29, arrives in Los Angeles with a reputation as one of the NBA’s premier three‑point shooters, while the Hawks gain a veteran ballhandler, additional draft capital and financial flexibility via a sizeable trade exception.
Trade specifics and why it happened
Multiple reports say the Lakers are sending Vincent and a 2032 second‑round pick to Atlanta in exchange for Kennard. The Hawks are expected to generate an approximately $11 million trade exception in the process, giving them added flexibility for future roster moves.
Los Angeles had been widely viewed as a team in need of more shooting around its stars, and Kennard checks that box as cleanly as almost any player in the league. Atlanta, meanwhile, gains a veteran guard who can run offense and defend at the point of attack, plus a future asset, while opening cap maneuverability going forward.
Advertisement
Lakers finally get the knockdown shooter they wanted
Kennard brings a career three‑point percentage of 44.2 percent, placing him among the most accurate long‑range shooters in NBA history. This season he has been even hotter, leading the league at roughly 49.7 percent from beyond the arc at the time of the deal, according to one report.
For a Lakers team that has often struggled with spacing in the LeBron era, the fit is obvious. Kennard’s gravity should open driving lanes for James and Dončić, as well as cleaner pick‑and‑roll reads for Austin Reaves and the rest of the backcourt. Off the ball, his ability to relocate, sprint off screens and punish even brief defensive lapses will force opponents to choose between doubling stars or staying attached to one of the league’s deadliest shooters.
According to one fantasy and transaction report, the Lakers had been “in the market for another wing” and targeted Kennard specifically for his elite perimeter efficiency. The expectation is that he will begin in a second‑unit role but could close games depending on matchups and lineup combinations.
What the Hawks gain from dealing Kennard
From Atlanta’s perspective, the trade is as much about financial and structural flexibility as it is about on‑court fit. By moving Kennard’s salary and taking back Vincent plus a distant second‑round pick, the Hawks carve out an $11 million trade exception they can deploy in future deals.
Advertisement
The organization also brings in a veteran guard in Vincent, who has experience starting and coming off the bench in big playoff environments. Though his tenure with the Lakers was marred by injuries and inconsistent play, Vincent has shown at previous stops that he can defend, space the floor and run secondary offense in the right context.
For a Hawks team still trying to find the ideal mix around its backcourt core, adding a steady, defensive‑minded guard and a future draft asset while gaining flexibility can be seen as a pragmatic move, even if it means losing the league’s most efficient three‑point shooter this season.
Kennard’s journey to Los Angeles
Kennard’s move to the Lakers adds another chapter to a career that has already taken him through several franchises. Drafted 12th overall by the Detroit Pistons in 2017, he was later traded to the LA Clippers, where he emerged as a high‑volume sniper in a contender’s rotation.
In 2023 he was moved to the Memphis Grizzlies in a three‑team deal, a stop highlighted by a franchise‑record performance in which he hit 10 three‑pointers in a single game. Kennard re‑signed with Memphis in 2024 before eventually joining the Hawks on a one‑year, $11 million deal in 2025.
Advertisement
Now, with the trade to Los Angeles, he returns to a big‑market Western Conference contender that will ask him to reprise the role he played so effectively with the Clippers: a specialist whose shooting can swing playoff games.
Role and expectations in the Lakers’ rotation
Early indications are that Kennard will “play a modest role with the second unit,” according to one report, at least initially. The Lakers already feature multiple ball-dominant stars, so Kennard will not be asked to create a high volume of offense off the dribble.
Instead, his value lies in:
Spot‑up shooting from the corners and wings.
Coming off pindowns and flares to force defensive overreactions.
Functioning as a safety valve late in the shot clock when defenses collapse on James or Dončić.
Defensively, Kennard is not known as a stopper, and Los Angeles will likely scheme to protect him by pairing him with stronger, more versatile defenders in key lineups. Still, his offensive impact could outweigh matchup concerns, particularly in series where shooting is at a premium.
Vincent’s rocky Lakers stint comes to an end
For Vincent, the trade effectively closes a difficult chapter. Signed by the Lakers with hopes he would bring toughness and shooting to the backcourt, he struggled to find rhythm amid injuries and inconsistent minutes.
Advertisement
Reports describe his Los Angeles tenure as “less than stellar,” noting that the club was eager to reset that roster spot in favor of a more reliable shooter. Moving to Atlanta offers Vincent a fresh start on a team that may be better positioned to use his defensive intensity and secondary playmaking.
How this trade shapes the Lakers’ title outlook
Whether Kennard can tilt the championship odds in Los Angeles’ favor will depend on several factors: his health, his ability to hold up defensively, and how seamlessly he meshes with the team’s existing stars.
On paper, the fit is strong. The Lakers have lacked a truly elite movement shooter in recent years, and opposing defenses frequently packed the paint against James and Dončić, daring role players to beat them from outside. Kennard’s presence should make that strategy far riskier, forcing teams to either stretch their defense to the perimeter or risk giving one of the best three‑point shooters in the league clean looks.
Analysts have already framed the move as a “favorable outcome” for the Lakers, emphasizing that they acquired the NBA’s top three‑point shooter this season without sacrificing a first‑round pick or a core young player. If Kennard delivers in the playoffs the way he has at previous stops, the trade could be remembered as a turning point in Los Angeles’ push for another title in the LeBron–Dončić era.
| Revenue of $14.97B (1.75% Y/Y) misses by $628.98M
ArcelorMittal S.A. (MT) Q4 2025 Earnings Call February 5, 2026 9:30 AM EST
Company Participants
Daniel Fairclough – Head of Investor Relations & VP of Corporate Finance Aditya Mittal – CEO & Director Genuino Christino – Executive VP & CFO
Advertisement
Conference Call Participants
Alain Gabriel – Morgan Stanley, Research Division Tristan Gresser – BNP Paribas, Research Division Ephrem Ravi – Citigroup Inc., Research Division Cole Hathorn – Jefferies LLC, Research Division Reinhardt van der Walt – BofA Securities, Research Division Bastian Synagowitz – Deutsche Bank AG, Research Division Matthew Greene – Goldman Sachs Group, Inc., Research Division Timna Tanners – Wells Fargo Securities, LLC, Research Division Philip Gibbs – KeyBanc Capital Markets Inc., Research Division Maxime Kogge – ODDO BHF Corporate & Markets, Research Division
Advertisement
Presentation
Daniel Fairclough Head of Investor Relations & VP of Corporate Finance
Good afternoon, everyone. This is Daniel Fairclough from the ArcelorMittal Investor Relations team. Thank you for joining this call to discuss ArcelorMittal’s performance and progress in 2025. Present on today’s call, we have our CEO, Aditya Mittal; and our CFO, Genuino Christino.
Before we begin, I’d like to mention a few housekeeping items. As usual, we will not be going through the results presentation that we published this morning on our website However, I do want to draw your attention to the disclaimers on Slide 26 of that presentation. Following opening remarks from Aditya and Genuino, we will move directly to the Q&A session. [Operator Instructions]
Advertisement
And with that, I will hand over the call to Aditya.
Aditya Mittal CEO & Director
Thanks, Daniel. Welcome, everyone, and thank you for joining today’s call. Before I ask Genuino to walk through our financial performance, I want to start by reflecting on the progress we have made against our 2025 priorities.
Advertisement
When I look back at the year, the achievements are clear and everyone at ArcelorMittal
An alleged attempt to detonate a homemade explosive device at a protest on Australia Day has been declared an act of terror, nine days after the incident took place.
Jason Goldberg Winnipeg has built a career around clarity. In a field known for complexity, he has focused on making big ideas work in the real world. Not with noise or headlines, but with structure, discipline, and long-term thinking.
Based in Winnipeg, Jason is a partner at MLT Aikins, the largest law firm in Manitoba and Western Canada. His work sits at the intersection of tax law, business strategy, and transition planning. Over time, he has helped shape transactions and structures that allow businesses and families to move forward with confidence.
“I’ve always believed that good ideas only matter if they can be implemented,” Jason says. “Execution is where value is created.”
grew up in Winnipeg, a city that values loyalty and community. Sports and culture were a constant presence. From the historic Winnipeg Arena to today’s Canada Life Centre, he learned early that showing up matters.
Advertisement
“Winnipeg teaches you to stay committed,” he says. “You don’t chase trends. You build something solid.”
That mindset shaped his early ambitions. In 1989, Jason received a YTV Achievement Award for Entrepreneurship. It was an early signal of his interest in how ideas become sustainable ventures.
He went on to earn a BA from the University of Manitoba in 1993, followed by a law degree from the University of Western Ontario in 1997. He was called to the Manitoba Bar in 1998.
Finding His Path in Tax and Business Law
Early in his legal career, Jason gravitated toward tax law. It was not about numbers alone. It was about how decisions ripple across time.
Advertisement
“Tax law forces you to think ahead,” he says. “You can’t just look at today. You have to understand what happens five or ten years down the road.”
To deepen his expertise, Jason completed the CICA In-Depth Tax Course in 2006, along with advanced training in corporate reorganisations and tax law. These programmes are known for their rigour and practical focus.
“You learn very quickly that precision matters,” he says. “Small details can shape very large outcomes.”
Bringing Big Ideas to Life in Practice
Jason’s work focuses on corporate tax planning, acquisitions and divestitures, reorganisations, and estate and succession planning. Much of it involves closely held and family-owned businesses facing moments of change.
Advertisement
These moments often come with pressure. Emotions run high. Timelines are tight.
“My role is to bring creativity and stamina to a complex problem,” Jason explains. “A concept needs space to be tested before they are put into motion.”
He is known for helping clients translate complex strategies into workable steps. Not by oversimplifying, but by asking the right questions early.
“Good planning is about alignment,” he says. “When structure and intent match, things tend to hold.”
Advertisement
Leadership Through Clarity and Collaboration
As a partner at MLT Aikins, Jason works closely with lawyers, accountants, and advisors across disciplines. Transactions rarely succeed in isolation.
“Everyone brings a piece of the puzzle,” he says. “Leadership is making sure those pieces fit together.”
Jason is also active in professional education. He has written papers for Continuing Legal Education and the Canadian Tax Foundation and presented for organisations such as the Business Development Bank of Canada.
Teaching, he believes, keeps his thinking sharp.
“If you can explain a complex idea in plain language, you can understand it,” he says.
Advertisement
Life Beyond the Office
Outside of work, Jason remains deeply connected to sports and the arts as a supporter. He is a lifelong fan of the NHL and NBA. At home, he supports the Winnipeg Jets. From afar, he follows the New York Rangers. The Phoenix Suns and Vancouver Canucks are also favourites.
“Sports are a shared experience,” he says. “They bring people together in a way few things can.”
That same belief draws him to the arts. Jason regularly attends the Vancouver International Film Festival and the Toronto International Film Festival. He enjoys discovering new voices and perspectives.
He also supports institutions such as the Vancouver Symphony Orchestra, Phoenix Symphony Orchestra, Vancouver Art Gallery, Phoenix Art Museum, the Scottsdale Museum of Contemporary Art and the Agassiz Chamber Music Festival.
Advertisement
“Art challenges how you see the world,” he says. “That’s valuable in any profession.”
Investing in Education and the Future
Jason is an advocate for education and youth development. He actively supports Balmoral Hall School and programmes that encourage leadership, curiosity, and character.
“Education is one of the few investments that always pays forward,” he says.
That belief mirrors his professional philosophy. Focus on fundamentals. Build with care. Let results compound over time.
Advertisement
A Career Defined by Thoughtful Execution
Jason Goldberg’s career is not defined by bold claims. It is defined by follow-through and working the details. By taking complex ideas and turning them into structures that last.
“Success is usually quiet,” he says. “If things are working, you’re probably doing something right.”
From his roots in Winnipeg to his leadership role today, Jason continues to show that innovative concepts and implementation adds value for clients.
Expanded group will focus on companies with zero-waste strategies
Allwood Recycling Solutions is based in Warwick(Image: Allwood Recycling Solutions)
A waste management firm backed by investment group Palatine has acquired a Midlands firm in a “milestone” deal that will create a £60m revenue business with more than 200 employees. Swinton’s Papilo has taken over Warwick-based Allwood Recycling Solutions in its second acquisition since it secured the backing of Palatine’s Impact Fund.
Allwood was founded in 2010 by Darren Wheeler and has been led since 2025 by Gavin Ebery. Both will continue with the Papilo group with the rest of the Allwood team.
The Midlands business focuses on the distribution and logistics sector and manages more than 150,000 tonnes of material each year.
Paul Hodgkiss, CEO of Papilo said: “The Allwood team are hugely well-regarded in the industry and I am delighted to welcome Gavin, Darren and the wider Allwood team to Papilo. They bring outstanding experience, technical knowledge and from the outset, it was clear that we share a common purpose where sustainability, and the circular economy, sit at the centre of every service.
“This is a milestone acquisition for the group and will be a major platform for growth.”
Gavin Ebery, managing director of Allwood Recycling Solutions said: “This deal brings together two purpose-driven, like-minded businesses and I’m very excited about the opportunities it will bring to our customers and our people.
“We look forward to a new phase of growth as part of Papilo in a market where increasing numbers of blue-chip companies are rolling out zero waste strategies.”
Advertisement
Greg Holmes, senior investment director at Palatine Impact Fund, said: “This is an important strategic acquisition for Papilo, broadening our service capabilities and brings new experience and technical knowledge into the business.
“We are delighted to have supported on Papilo’s second acquisition in the last eight months and look forward to identifying other suitable targets that will further enhance Papilo’s growth.”
The deal, the value of which was not disclosed, was funded by Palatine Impact II, Kartesia and Virgin Money. Papilo was advised by Gateley Plc (legal), Fellwood Advisory (debt advisory), Forvis Mazars (financial and tax due diligence) and Luminii Consulting (commercial due diligence). Advisors to Allwood included HNH Advisors (corporate finance) and Burges Salmon (legal).
The Nasdaq composite fell Wednesday as chip stocks came under fresh selling pressure and concerns lingered about potential AI disruption to software companies.
The tech-heavy index pared some losses in afternoon trading, but still finished 1.5% lower, its fourth down session in five trading days. Disappointing results from chip maker AMD sent its stock down 17%, its biggest pullback since 2017. Palantir, Micron and AppLovin all fell 9% or more.
BNP Paribas SA (BNP:CA) Q4 2025 Earnings Call February 5, 2026 8:00 AM EST
Company Participants
Jean-Laurent Bonnafe – MD, CEO & Director Lars Machenil – Group Chief Financial Officer
Conference Call Participants
Advertisement
Tarik El Mejjad – BofA Securities, Research Division Delphine Lee – JPMorgan Chase & Co, Research Division Giulia Miotto – Morgan Stanley, Research Division Chris Hallam – Goldman Sachs Group, Inc., Research Division Jacques-Henri Gaulard – Kepler Cheuvreux, Research Division Andrew Coombs – Citigroup Inc., Research Division Flora Benhakoun Bocahut – Barclays Bank PLC, Research Division Sharath Ramanathan – Deutsche Bank AG, Research Division Pierre Chedeville – CIC Market Solutions, Research Division Anke Reingen – RBC Capital Markets, Research Division Jonathan Matthew Clark – Mediobanca – Banca di credito finanziario S.p.A., Research Division
Presentation
Operator
Advertisement
Good afternoon, ladies and gentlemen, and welcome to the presentation of the BNP Paribas Fourth Quarter and Full Year 2025 results with Jean-Laurent Bonnafe, Group Chief Executive Officer; and Lars Machenil, Group Chief Financial Officer. For your information, this conference call is being recorded. Supporting slides are available on BNP Paribas IR website, invest.bnpparibas.com.
[Operator Instructions] I would like now to hand the call over to Jean-Laurent Bonnafe, Group Chief Executive Officer. Please go ahead, sir.
Jean-Laurent Bonnafe MD, CEO & Director
Advertisement
Good afternoon, ladies and gentlemen. We are pleased to present today our strong fourth quarter results, and we’ll provide some elements on our ’28 trajectory, which we are revising upwards given the strong revenue momentum at the launch of a transformation plan of our support functions.
I will start with our results on Slide 4. So our fourth quarter results confirmed the sharp acceleration we had expected. Revenues posted a strong 8% growth. Jaws effect was higher at 2.9 points and even reached 3.9 points when excluding AXA IM. Cost of fees stayed low at 34 bps well within our trajectory of below 40