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Businessweek
Banking, Booze and 007’s Wheels: 10 Companies to Watch Right Now
Q3 2025
Following our list of 50 Companies to Watch in January and a quarterly update in April, here are 10 names you should know—for better or worse—specifically for the third quarter. Bloomberg Intelligence analysts have dug into their scenarios to identify the most interesting companies from a larger group of high-confidence Focus Ideas. Spanning sectors and regions, each scenario outlines a catalyst in the next few months that supports our case.
Bloomberg Terminal users can track the performance of stocks in our annual 50 Companies 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 19% in the first half, while our pessimistic list, unexpectedly, did even better—climbing 21%. Over the same period, the S&P 500 rose 5%, so you could have done worse. —Tim Craighead
For more information on Bloomberg Intelligence, please visit www.bloomberg.com/bi
AIA
Outlook ☀️
The Hong Kong-based insurer is on track to beat consensus sales estimates in the second half. It’s seeing strong demand from mainlanders for life insurance policies and annuities, which Chinese citizens view as a good way to diversify their portfolios. An expansion into new cities across China should help boost revenue, and its units in Thailand and Singapore are performing strongly.
—Steven Lam
Data Sheet
Market cap
$95B
Estimated 2025 sales
$21B
Forecast sales growth
9%
Group CEO & president
Lee Yuan Siong
Legal name
AIA Group Ltd.
Triggers
- First-half results to be released in late August should show the strength of new business growth and its impact on margins.
Aston Martin
Outlook ☁️
The maker of 007’s preferred set of wheels has an ambitious pipeline of models, but at the rate it’s burning through cash, Aston Martin may soon need a capital infusion. The full lots at its dealers illustrate how tough the competition has become, with V-12 supercars from Ferrari and Lamborghini screaming out of showrooms and Porsche’s hybrid sales growing fast.
—Michael Dean
Data Sheet
Market cap
$1.1B
Estimated 2025 sales
$2.2B
Forecast sales growth
9%
CEO & executive director
Adrian Hallmark
Legal name
Aston Martin Lagonda Global Holdings Plc
Triggers
- Results in July are likely to show further cash flow losses, which risk precipitating downgrades from credit rating agencies.
Cadence
Outlook ☀️
As a leading provider of software for designing semiconductors, Cadence’s results show the positive impact of artificial intelligence. Nvidia and Samsung have started using AI-enabled design-automation tools from the company, helping put it on track to beat consensus sales expectations for the next couple of years.
—Niraj Patel
Data Sheet
Market cap
$84B
Estimated 2025 sales
$5.2B
Forecast sales growth
10%
President & CEO
Anirudh Devgan
Legal name
Cadence Design Systems Inc.
Triggers
- Results to be reported in late July will likely showcase increasing customer adoption of Cadence’s AI tools.
Capitec
Outlook ☀️
The South African bank is on course to extend its recent record of high-teens revenue growth, even as the market is expecting a slowdown. Capitec is using its low-cost approach in retail banking—small branches, simple products and ample client-facing staff—to expand into insurance and small-business lending, which should help boost its market share.
—Philip Richards
Data Sheet
Market cap
$22B
Estimated 2025 sales
$2.8B
Forecast sales growth
19%
CEO
Gerhardus Metselaar Fourie
Legal name
Capitec Bank Holdings Ltd.
Triggers
- An anticipated 25 basis-point rate cut by South Africa’s central bank in July could increase Capitec’s momentum as the quarter closes.
Diageo
Outlook ☀️
Despite anemic US revenue growth last year and the potential impact of tariffs, pessimism about growth at the world’s largest spirits maker appears overblown. Its brands—Johnnie Walker, Talisker, Tanqueray and dozens more—are poised to benefit as more drinkers turn to pricier booze, as seen by the 6% growth in sales of existing products in the most recent quarter.
—Duncan Fox
Data Sheet
Market cap
$56B
Estimated 2025 sales
$20.5B
Forecast sales growth
1%
CEO & executive director
Debra Crew
Legal name
Diageo Plc
Triggers
- Results for the fiscal year, due in early August, will be key to understanding whether demand for top-shelf drinks remains strong.
Dick’s Sporting Goods
Outlook ☀️
Notwithstanding concerns about weary and wary consumers, sales at the largest US sporting goods chain are growing as its relatively wealthy customers keep buying its bikes, golf clubs, apparel and more. Dick’s rollout of its larger “House of Sport” stores is accelerating, with 16 locations opening this year, bringing the total to 35. Its pending acquisition of Foot Locker should add another leg to the story.
—Lindsay Dutch
Data Sheet
Market cap
$16B
Estimated 2025 sales
$13.9B
Forecast sales growth
2%
President & CEO
Lauren Hobart
Legal name
Dick’s Sporting Goods Inc.
Triggers
- A robust back-to-school season later this summer should give a lift to a September earnings release.
EasyJet
Outlook ☀️
The low-cost British airline is replacing its older Airbus A319s with A320/A321neo aircraft, which carry 50% more passengers while burning far less fuel. That’s likely to push profit margins beyond market expectations for the coming year. A continuing expansion into holiday packages is an added bonus.
—Conroy Gaynor
Data Sheet
Market cap
$5.2B
Estimated 2025 sales
$13.9B
Forecast sales growth
13%
CEO
Kenton Jarvis
Legal name
easyJet Plc
Triggers
- Summer travel trends will come into focus when easyJet releases its third-quarter financial report in mid-July.
Enphase
Outlook ☀️
With most of its manufacturing in the US, the solar equipment maker is well-positioned under new tariffs and sourcing rules that favor domestic production. And an earlier-than-expected phase-out of tax credits should pull demand forward, giving Enphase a near-term tailwind. But as incentives taper off in the coming years, the company will face increasing pressure on its margins.
—Rob Barnett
Data Sheet
Market cap
$5.2B
Estimated 2025 sales
$1.5B
Forecast sales growth
10%
President & CEO
Badrinarayanan Kothandaraman
Legal name
Enphase Energy Inc.
Triggers
- Results in July should confirm an upswing in US and European sales momentum, though the US might also pass rules that scale back solar incentives.
Keppel DC
Outlook ☀️
Asia’s first REIT focused entirely on data centers will benefit from the emergence of its home base of Singapore as a regional artificial intelligence hub. For AI-data-center leases expiring this year, Keppel DC should be able to boost rents 30% to 40%. And as it adds locations, revenue growth should follow.
—Ken Foong
Data Sheet
Market cap
$4.1B
Estimated 2025 sales
$0.32B
Forecast sales growth
37%
CEO
Loh Hwee Long
Legal name
Keppel DC REIT
Triggers
- The impact of rising rents after lease renewals should be visible in first-half earnings, due in late July.
Proximus
Outlook ☁️
The rapid growth of discount carrier Digi in Proximus’ home market of Belgium is likely to be more disruptive for the telecommunications company than the market believes. Proximus’ revenue and cash flow could disappoint for years as Digi expands after launching with mobile-service plans at two-thirds the incumbent’s price and broadband that’s 80% cheaper.
—Erhan Gurses
Data Sheet
Market cap
$3.3B
Estimated 2025 sales
$7.8B
Forecast sales growth
10%
CEO
Stijn Bijnens
Legal name
Proximus SA
Triggers
- Digi may provide more details about its plans in Belgium on its second-quarter earnings call in mid-August.