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Hesai Falls 1.7% as Profit Declines Despite Strong Revenue and Lidar Shipment Growth Hesai Group (NASDAQ: HSAI) shares fell about

Hesai Group (NASDAQ: HSAI) shares fell about 1.7% after the company reported strong third-quarter revenue and shipment growth but lower profitability compared with the...

11-10-26

Wix Slips 0.7% as Base44 Growth Accelerates but Free Cash Flow Outlook Is Cut Wix*com (NASDAQ: WIX) shares fell about

Wix*com (NASDAQ: WIX) shares fell about 0.7% after the company reported solid third-quarter growth and strong momentum at Base44, but lowered its full-year free...

11-10-26

Liquidia Slips 0.25% as YUTREPIA Sales Surge but Litigation Settlement Drives Large Net Loss Liquidia (NASDAQ: LQDA) shares slipped about

Liquidia (NASDAQ: LQDA) shares slipped about 0.25% after the company reported strong YUTREPIA sales growth and improving adjusted profitability, while a large litigation settlement...

11-10-26

D-Wave Falls 9% as Quarterly Bookings Drop and Losses Widen Despite Strong Backlog Growth D-Wave Quantum (NASDAQ: QBTS) shares fell

D-Wave Quantum (NASDAQ: QBTS) shares fell about 9% on Tuesday after the company reported weaker quarterly bookings, sharply higher operating expenses and a wider...

11-10-26

Legend Biotech Falls 13% Despite CARVYKTI Growth and First Quarterly Profit Legend Biotech (NASDAQ: LEGN) shares fell about 13% on

Legend Biotech (NASDAQ: LEGN) shares fell about 13% on Tuesday despite strong CARVYKTI sales growth, a swing to profitability and encouraging long-term clinical data....

11-10-26

Atour Lifestyle Falls 1.8% Despite Strong Revenue Growth as Reported Net Income Declines Atour Lifestyle Holdings (NASDAQ: ATAT) shares fell

Atour Lifestyle Holdings (NASDAQ: ATAT) shares fell about 1.8% on Tuesday despite strong third-quarter revenue growth and continued expansion across its hotel and retail...

11-10-26

Scholar Rock Falls 5% as ISEMBYLD Launch Begins but Losses Remain Elevated Scholar Rock (NASDAQ: SRRK) shares fell about 5%

Scholar Rock (NASDAQ: SRRK) shares fell about 5% on Tuesday despite highlighting early demand for newly launched ISEMBYLD and progress across its international regulatory...

11-10-26

On Holding Falls 8% Despite Record Q3 Sales as Outlook Fails to Match Strong Quarterly Momentum On Holding (NYSE: ONON)

On Holding (NYSE: ONON) shares fell about 8% on Tuesday despite reporting record third-quarter sales, sharply higher margins and strong growth across regions and...

11-10-26

TransDigm Rises 1.6% as Q4 Results Top Guidance and Fiscal 2027 Outlook Signals Continued Growth TransDigm Group (NYSE: TDG) shares

TransDigm Group (NYSE: TDG) shares rose about 1.6% on Tuesday after the company reported strong fiscal fourth-quarter results, with revenue and EBITDA As Defined...

11-10-26

U.S. CPI Rises More Than Expected in October as Core Inflation Holds at 0.3% U.S. consumer prices rose 0.4% month

U.S. consumer prices rose 0.4% month over month in October, above the 0.3% forecast but slowing from September’s 0.6% increase. Core CPI, which excludes...

11-10-26

Amgen Highlights Repatha Cost-Effectiveness and Long-Term Cardiovascular Risk Reduction at AHA 2026 Amgen (NASDAQ: AMGN) presented new Repatha data at

Amgen (NASDAQ: AMGN) presented new Repatha data at the American Heart Association Scientific Sessions 2026, strengthening the case for earlier and more intensive LDL...

11-10-26

AST SpaceMobile Edges 0.03% Higher Premarket as Service Launch Nears and Funding Expands AST SpaceMobile (NASDAQ: ASTS) shares were nearly

AST SpaceMobile (NASDAQ: ASTS) shares were nearly flat, edging about 0.03% higher in premarket trading after the company outlined progress toward initial commercial service,...

11-10-26

S&P 500

U.S. CPI Rises More Than Expected in October as Core Inflation Holds at 0.3%

U.S. consumer prices rose 0.4% month over month in October, above the 0.3% forecast but slowing from September’s 0.6% increase.

Core CPI, which excludes food and energy, increased 0.3%, also exceeding the 0.2% forecast and matching the previous month’s pace.

Separately, ADP’s weekly employment measure showed private payrolls increasing by 19,800, slightly above the previous reading of 19,500.

U.S. equities traded modestly lower following the data. The S&P 500 was down 0.19%, the Dow Jones Industrial Average fell 0.35%, and the Nasdaq declined 0.06%.

The hotter-than-expected headline and core CPI readings suggest underlying inflation pressures remain persistent, potentially reinforcing expectations that the Federal Reserve will remain cautious about further monetary-policy easing.

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WS Investor 11-10-26

U.S. Jobless Claims Fall to 189,000 as Tech Stocks Slide

U.S. initial jobless claims fell to 189,000, below the 197,000 forecast and down from 195,000 previously, pointing to continued resilience in the labor market.

Continuing jobless claims, however, increased to 1.718 million from 1.695 million, slightly above the 1.710 million forecast. The combination suggests layoffs remain low, while workers already unemployed may be taking somewhat longer to find new jobs.

U.S. equities traded mixed following the data. The Dow Jones Industrial Average rose about 0.54%, while the S&P 500 fell 0.32% and the Nasdaq declined 1.12%.

The stronger initial claims reading may reinforce expectations that the labor market remains relatively firm, potentially limiting the case for faster monetary easing. The heavier decline in the Nasdaq suggests rate-sensitive technology stocks were under greater pressure, while the Dow showed relative strength.

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The Investor 11-05-26

U.S. Stock Futures Rally After Democratic Midterm Sweep as ADP Employment Matches Prior Month

U.S. stock futures moved sharply higher on Wednesday as investors digested the Democratic sweep of both chambers of Congress and a stronger-than-expected private-sector employment report.

Dow futures climbed about 2.1%, S&P 500 futures rose 1.1%, while Nasdaq futures gained 0.4%. The broader move followed confirmation that Democrats won control of both the House and Senate in the November 3 midterm elections, creating a divided government with Republican President Donald Trump.

Labor-market data also provided support. ADP reported that U.S. private payrolls increased by 86,000 in October, matching the previous month’s reading and exceeding the 67,000 forecast. The result points to continued hiring momentum, although employment growth remains relatively moderate.

The market reaction suggests investors are balancing two themes. The election outcome has increased expectations that large legislative changes may become more difficult, while the ADP report indicates the labor market has not weakened sharply. Together, those factors supported cyclical shares and helped push Dow futures substantially higher.

The Nasdaq’s smaller gain also reflects a more complicated post-election backdrop for technology stocks. Democratic victories have increased investor focus on possible tighter oversight of AI infrastructure and data-center development, particularly after election campaigns in several states highlighted concerns over energy use, utility costs and local opposition to new data centers.

Overall, the combination of greater political clarity and resilient employment data is supporting U.S. equities ahead of the opening bell. However, investors are likely to remain focused on how the new congressional balance may affect fiscal policy, AI regulation and future Federal Reserve decisions.

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WS Investor 11-04-26

U.S. Stocks Rise as Oil Plunges and ISM Manufacturing Beats Forecasts

U.S. stocks extended gains Monday as sharply lower oil prices eased inflation concerns and stronger-than-expected ISM manufacturing data supported confidence in the economy.

The Dow Jones rose 1.03% to 52,304.31, the Nasdaq gained 0.87% to 25,658.79, and the S&P 500 advanced 0.62% to 7,627.00.

Brent crude fell more than 6% to around $106.41 a barrel. The sharp decline in energy prices provides a favorable backdrop for equities by reducing concerns over fuel-driven inflation and potentially lowering costs for businesses and consumers.

Economic data also offered support. The ISM Manufacturing PMI increased to 55.5 in October, beating the 54.5 forecast and improving from 54.5 previously. The reading remained well above the 50 threshold, indicating continued expansion in U.S. manufacturing activity.

At the same time, the ISM Manufacturing Prices index eased to 75.2 from 77.9 and came in below the 77.2 forecast. Although input-price pressures remained elevated, the decline provided some reassurance on the inflation outlook. Manufacturing employment slipped slightly to 52.4 from 52.7 but remained in expansion territory.

Construction spending was the major weak point, falling 1.9% month over month in September compared with expectations for a 0.4% increase and a previous 2.0% gain.

Overall, the rise in U.S. indexes appears to reflect a combination of sharply lower oil prices, stronger manufacturing activity and some moderation in manufacturing price pressures. The weak construction spending figure limited the otherwise positive macro picture but was not enough to offset the broader improvement in investor sentiment.

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European Investor 11-02-26

U.S. Stocks Trade Mixed as Wider Trade Deficit Offsets Inventory Growth

U.S. stocks were mixed after fresh economic data showed a wider-than-expected goods trade deficit alongside stronger retail inventory growth. The S&P 500 rose 0.15% and the Dow gained 0.27%, while the Nasdaq was nearly unchanged, down 0.01%.

The U.S. goods trade deficit widened to $134.90 billion in September, larger than the $130.40 billion consensus estimate and the previous $132.07 billion deficit. The deterioration suggests imports continued to outpace exports and could weigh on the trade component of third-quarter GDP calculations.

Retail inventories excluding autos increased 0.4% in September, accelerating from 0.1% previously. Higher inventories can provide some near-term support to GDP, although persistent inventory accumulation can become a negative signal if it reflects weaker-than-expected final demand.

Overall, the releases offered a mixed economic signal: stronger inventory accumulation was offset by a larger trade deficit, helping explain the relatively subdued reaction across major U.S. equity indexes.

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WS Investor 10-28-26

Wall Street Rises as Strong Consumer Confidence Offsets Mixed U.S. Economic Data

U.S. stocks moved higher Tuesday, with the Nasdaq gaining 1.19%, the S&P 500 rising 0.66% and the Dow Jones adding 0.14%, as investors digested a mixed batch of economic data.

Conference Board Consumer Confidence climbed to 91.7 in October, well above the 81.2 forecast and up from 84.2 previously. The stronger-than-expected reading pointed to improved household sentiment and provided the clearest positive signal from the day’s releases.

New home sales also came in better than expected at an annualized 676,000 in September, compared with the 651,000 forecast, although sales edged down from 680,000 previously.

Other indicators were softer. Building permits slipped to 1.398 million, slightly below the 1.400 million forecast and 1.403 million prior reading. Weekly ADP employment growth slowed to 16,800 from 18,500, suggesting some moderation in private-sector hiring.

Durable goods orders rose 1.8% in September, a sharp improvement from the prior 0.1% increase but slightly below the 2.0% consensus estimate.

Overall, the data presented a mixed economic picture, with stronger consumer confidence and housing demand offsetting softer employment and building activity. The stronger move in the Nasdaq suggests risk appetite remained relatively firm despite the uneven macro signals.

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European Investor 10-27-26

Wall Street Falls as Mixed Jobless Claims and Surging Oil Keep Rate and Inflation Concerns in Focus

U.S. stocks traded lower after the latest labor-market data sent a mixed signal while a sharp rise in crude oil added to inflation concerns.

Initial jobless claims fell to 194,000, better than the 200,000 consensus estimate and down from 200,000 previously. The reading suggests layoffs remain relatively contained and the labor market is still holding up.

Continuing jobless claims, however, rose to 1.728 million, above the 1.720 million forecast and up from 1.703 million previously. That points to some difficulty for unemployed workers in finding new jobs even as new layoffs remain low.

Equities were under pressure, with the S&P 500 down about 0.78%, the Dow Jones Industrial Average off 0.15%, and the Nasdaq falling roughly 1.42%. The heavier Nasdaq decline suggests continued pressure on rate-sensitive growth and technology stocks.

At the same time, Brent crude climbed about 2.4% to $111.48 per barrel. Higher oil prices can complicate the inflation outlook by increasing energy and transportation costs, potentially reinforcing concerns that the Federal Reserve may need to keep monetary policy restrictive for longer.

Overall, the combination of resilient initial claims and rising oil prices appears to be weighing on risk appetite, even as the increase in continuing claims points to some underlying softening in the labor market.

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WS News 10-22-26

Wall Street Trades Mixed as Hotter PPI and Strong Retail Sales Reinforce Rate Concerns

U.S. stocks traded mixed after a batch of economic data showed stronger consumer spending, hotter producer inflation and continued labor-market resilience. The S&P 500 fell 0.26% to 7,698.99 and the Nasdaq dropped 0.86% to 26,463.05, while the Dow Jones Industrial Average rose 0.55% to 51,907.65.

September retail sales increased 0.8% month over month, well above the 0.3% consensus estimate, although growth slowed from 1.3% previously. Core retail sales rose 0.9%, also beating the 0.6% forecast but easing from 1.4%.

Inflation data were more concerning. Producer prices jumped 1.3% month over month, more than double the 0.6% expected and sharply above the prior 0.5% increase. Core PPI rose 0.7%, compared with a 0.3% forecast and 0.2% previously.

The labor market remained firm. Initial jobless claims were 199,000, matching expectations and little changed from 198,000, while continuing claims came in at 1.710 million, exactly in line with forecasts and slightly below 1.714 million previously.

Manufacturing data were also much stronger than expected, with the New York Empire State Manufacturing Index jumping to 25.5 in October from 7.6, far above the 12.1 consensus estimate.

The data combination points to an economy that remains resilient but is also experiencing renewed inflation pressure. That backdrop may reinforce expectations for interest rates to remain elevated for longer, which appears to be weighing particularly on the rate-sensitive Nasdaq even as the Dow moves higher.

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The Investor 10-15-26

Wall Street Falls as September Inflation Comes in Hotter Than Expected

U.S. stocks moved lower after September inflation data showed broader price pressures remained firmer than economists expected. The S&P 500 fell 0.76% to 7,745.85, while the Nasdaq dropped 0.99% to 26,934.31. The Dow Jones Industrial Average declined 0.14% to 51,597.18.

Headline CPI increased 0.6% month over month in September, matching expectations but accelerating from 0.4% in August. On a year-over-year basis, inflation rose to 3.7%, above the 3.6% consensus estimate and up from 3.4% previously.

More importantly for the Federal Reserve outlook, core inflation also came in hotter than expected. Core CPI rose 0.3% month over month versus the 0.2% forecast, while the annual core rate accelerated to 2.6% from 2.4%, also exceeding the 2.5% consensus estimate.

The combination of higher headline inflation and an upside surprise in core prices suggests underlying inflation pressures remain persistent. That could reduce expectations for near-term monetary easing or reinforce the case for keeping interest rates elevated for longer.

The Nasdaq’s larger decline is consistent with renewed rate concerns weighing more heavily on growth and technology stocks, while the relatively smaller move in the Dow suggests a more defensive market response.

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Global Finance News 10-14-26

Wall Street Trades Mixed as U.S. Housing Data Beats Expectations

U.S. stocks traded mixed Tuesday as investors digested stronger-than-expected housing data alongside another increase in weekly private-sector employment.

The S&P 500 slipped 0.07% to 7,801.82, while the Nasdaq Composite fell 0.11% to 27,217.00. The Dow Jones Industrial Average was slightly higher, gaining 0.04% to 51,868.87.

U.S. existing home sales increased to an annualized 3.99 million units in September, above expectations of 3.95 million and up from 3.93 million previously. On a monthly basis, sales rose 1.5%, significantly stronger than the expected 0.8% decline and reversing the previous month’s 3.2% drop.

Separately, ADP’s weekly employment measure showed private payrolls increasing by 24,800, up from 23,800 in the previous reading.

The data points to continued resilience in parts of the U.S. economy, particularly housing and employment. However, the relatively muted equity-market reaction suggests investors remain cautious about how stronger economic activity could influence the Federal Reserve’s interest-rate outlook.

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European Investor 10-13-26

11-10-26European Investor

11-09-26WS News

11-06-26WS Investor

Brent Crude

Brent Crude Falls Nearly 3% as U.S.-Iran Escalation Fears Ease Further

Brent crude futures fell nearly 3% on Tuesday, trading around $89.86 a barrel, as markets continued to unwind the geopolitical risk premium tied to the conflict with Iran.

The decline followed U.S. President Donald Trump’s decision to hold off on additional strikes against Iran, easing fears of a prolonged escalation and further disruption to Middle East oil supplies. Reuters reported that Trump adopted a more conciliatory stance after appeals from regional leaders, while maintaining the U.S. naval blockade in the Strait of Hormuz. (Reuters)

Supply concerns have also eased as OPEC production increased in October. A Reuters survey showed OPEC crude output rose by 1.38 million barrels per day to 22.87 million bpd, reaching about 90% of its pre-war February level, with Saudi Arabia, Kuwait and Iraq leading the increases.(Reuters)

Geopolitical risks have not disappeared, however. Attacks on shipping are continuing and that uncertainty around the Strait of Hormuz remains elevated.

The latest 2.9% decline therefore appears primarily driven by continued de-escalation expectations and improving supply conditions, extending the sharp retreat from Brent’s October 30 high near $118.

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European Investor 11-10-26

Brent Crude Plunges Nearly 5% as Iran Supply Fears Ease

Brent crude futures fell nearly 5% on Monday, trading around $93.60 a barrel, as concerns over an immediate escalation in the conflict with Iran eased.

The sharp decline followed comments from U.S. President Donald Trump indicating that further U.S. strikes on Iran were highly unlikely if progress continues on nuclear negotiations and efforts to reopen the Strait of Hormuz. The comments reduced some of the geopolitical risk premium that had recently pushed oil prices sharply higher. Source: Reuters, Nov. 9, 2026.

Oil prices have also come under pressure from signs that physical supply conditions are becoming less tight. Recent market indicators have pointed to easing crude scarcity, while higher prices have started to weigh on demand and raise concerns about a potential supply surplus if Middle East disruptions continue to diminish. Source: Reuters, Nov. 6, 2026.

Despite Monday’s selloff, geopolitical risks remain elevated. The Strait of Hormuz remains a major uncertainty for global oil flows, and recent incidents involving tankers and attacks in the region show that supply disruption risks have not disappeared. Source: The Wall Street Journal, Nov. 9, 2026.

The nearly 5% drop therefore appears primarily driven by a rapid unwinding of the geopolitical risk premium as markets price in a lower probability of renewed U.S.-Iran military escalation and a potentially easier supply outlook.

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The Investor 11-09-26

Gold Extends Rally While Brent Rebounds After Sharp Selloff

Gold and Brent crude both moved higher on Thursday, although the two markets were reacting to different forces.

Gold futures rose about 1.5% to $4,135 an ounce, extending the previous session’s strong advance. The move comes after gold surged alongside a softer U.S. dollar and lower Treasury yields, conditions that typically support non-yielding bullion. Safe-haven demand also remains elevated amid geopolitical uncertainty.

Brent crude futures climbed about 0.7% to $95.31 a barrel, recovering part of the previous session’s steep decline. Oil had fallen sharply as signs of possible diplomacy involving Iran reduced fears of prolonged supply disruption in the Middle East.

The rebound in Brent suggests some stabilization after the selloff, but crude remains sensitive to any change in geopolitical expectations or supply risk.

Gold, meanwhile, continues to benefit from a more supportive macro backdrop, with softer yields and persistent geopolitical uncertainty reinforcing demand for defensive assets.

The divergence remains notable: oil is attempting to recover from a geopolitically driven collapse, while gold is holding near elevated levels as investors continue to seek protection against uncertainty.

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Global Finance News 11-05-26

Brent Crude Rebounds While Gold Falls as Middle East Tensions Shift Inflation Expectations

Brent crude rose while gold moved sharply lower on Tuesday, as renewed Middle East tensions pushed energy prices higher but also strengthened concerns that inflation could remain elevated.

Brent futures climbed about 1.9% to $106.71 a barrel, reversing part of the previous session’s steep decline. The rebound followed renewed geopolitical tensions involving the U.S. and Iran, which brought supply risks back into focus after hopes for diplomatic progress had reduced the oil market’s risk premium.

Oil prices moved higher after reports of a U.S. strike on Iran’s Qeshm Island, while comments from Iranian officials suggested the two sides remain far apart on a potential agreement. The developments revived concerns over Middle East supply disruptions and restored part of the geopolitical risk premium that had been removed from prices a day earlier. (Reuters)

The move suggests traders are once again pricing in the possibility of disruptions to regional energy flows, particularly if tensions spread to shipping routes or critical oil infrastructure. Brent had fallen sharply a day earlier as expectations for negotiations increased, making Tuesday’s rebound largely a reassessment of those assumptions.

Gold moved in the opposite direction. Futures fell about 1.5% to $3,910.10 an ounce, extending pressure on bullion despite the increase in geopolitical uncertainty.

The decline appears to reflect the inflation and interest-rate implications of higher oil prices. A renewed rise in energy costs can increase inflation expectations and reinforce the case for tighter or more prolonged restrictive monetary policy. Higher interest rates and bond yields generally reduce the relative appeal of non-yielding assets such as gold.

The contrasting moves in Brent and gold highlight how the same geopolitical event can affect asset classes differently. Oil is benefiting directly from renewed supply-risk concerns, while gold is facing pressure from the possibility that higher energy prices could keep inflation and interest rates elevated.

Near-term direction for both markets is likely to remain tied to developments between Washington and Tehran. Further escalation could support crude prices, while gold may continue to depend more heavily on how the conflict affects Treasury yields, the U.S. dollar and expectations for Federal Reserve policy.

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Global Finance News 11-03-26

Brent Crude Falls 3.7% as Iran Peace Talks Ease Immediate Supply Fears

Brent crude fell sharply on Monday, trading around $109.21 a barrel and down about 3.7%, as renewed diplomatic efforts involving Iran and Qatari mediators reduced some of the geopolitical risk premium that had built into oil prices. (The Wall Street Journal)

The decline follows a strong October rally that pushed Brent to its highest level in roughly six months. With no major military escalation over the weekend and negotiations continuing, traders appear to be taking profits and reassessing the probability of further disruption to oil flows through the Strait of Hormuz. (business-standard*com)

However, underlying supply conditions remain tight. Regional disruptions have already depleted global inventories significantly, while diesel stocks remain unusually low in several markets. That means the current decline appears more related to a reduction in geopolitical risk premium and profit-taking than to a fundamental shift toward abundant supply. (Reuters)

The key near-term driver remains the Iran diplomatic process: meaningful progress could push more risk premium out of crude prices, while renewed military escalation could quickly reverse the current selloff.

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The Investor 11-02-26

Brent Crude Falls 1.8% as U.S.-Iran De-Escalation Hopes Ease Supply Fears

Brent crude fell about 1.8% to $109.68 per barrel as renewed hopes for an easing in U.S.-Iran tensions reduced some of the geopolitical risk premium that had recently pushed oil prices higher.

The move also appears to reflect profit-taking after last week’s strong rally, when concerns over Middle East supply disruptions drove crude sharply higher. Traders are now reassessing whether the recent escalation will translate into a lasting hit to oil flows.

Supply risks have not disappeared, however, and continued instability in the region is helping keep Brent elevated above $109 per barrel. That means oil prices remain sensitive to any new developments involving Iran, regional attacks or disruptions to major shipping routes.

Overall, Monday’s decline looks more like a partial unwinding of geopolitical risk premium than a major change in the underlying supply outlook.

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WS News 10-26-26

Brent Crude Jumps Nearly 4% as Middle East Supply Risks and U.S. Gulf Shutdowns Intensify

Brent crude futures surged 3.94% to around $104.15 per barrel on Thursday, extending gains as geopolitical and weather-related supply concerns returned to the forefront of the oil market.

The strongest catalyst is renewed disruption risk around the Strait of Hormuz and the wider Gulf. Shipping activity through Hormuz has fallen sharply following a fresh wave of tanker attacks, increasing concerns over the security of a route that handled roughly one-fifth of global oil and fuel flows before the current conflict. (Reuters)

Supply fears were compounded by production disruptions in the U.S. Gulf of Mexico. Offshore producers have curtailed operations as Hurricane Isaias approaches, temporarily removing part of U.S. oil and gas output from the market. U.S. crude inventories also fell by 3.2 million barrels, adding another supportive factor. (Reuters)

The sharp move above $104 suggests traders are rebuilding a geopolitical risk premium after recent attempts to ease supply pressure through strategic stock releases.

Near term, Brent’s direction will remain highly sensitive to tanker traffic through Hormuz, further attacks on regional energy infrastructure, the duration of Gulf of Mexico production outages and any escalation involving Iran.

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The Investor 10-08-26

Brent crude futures fell 1.34% to $98.98 per barrel in early trading, extending losses after briefly trading above $101 earlier in the session.

Prices moved sharply lower during the morning, slipping below the $100 level and reaching an intraday low near $99.

The move marks a notable reversal from earlier gains, with Brent giving up more than $2 per barrel from its session high.

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Global Finance News 10-06-26

Brent Crude Holds Above $102 After Sharp Intraday Volatility

Brent crude futures traded around $102.14 per barrel on Monday, down 0.11%, after a highly volatile early session.

Prices initially fell below $101 before rebounding sharply and briefly moving above $103 per barrel. Brent later gave back part of the advance but remained comfortably above the session’s early lows.

The price action suggests the oil market remains highly sensitive to shifting supply and geopolitical expectations. The rapid rebound from below $101 indicates buyers are still emerging aggressively on dips, while the pullback from above $103 shows resistance at higher levels.

Near term, the $103 area appears to be an important upside level, while the roughly $101–$102 range could provide support if volatility persists. The broader direction will remain heavily dependent on developments affecting global supply expectations and Middle East risk.

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European Investor 10-05-26

U.S. Crude Inventories Rise as Atlanta Fed GDPNow Estimate Drops to 3.7%

U.S. crude oil inventories increased by 922,000 barrels in the latest weekly report, contrary to expectations for a 700,000-barrel decline. The previous reading showed a much larger 2.969 million-barrel build.

Inventories at Cushing, Oklahoma, also rose by 553,000 barrels after increasing by 2.266 million barrels previously, adding to signs of a looser near-term crude supply balance.

Separately, the Atlanta Fed’s GDPNow estimate for third-quarter U.S. economic growth fell sharply to 3.7% from 5.0%. The previous estimate had also stood at 5.0%.

For markets, the inventory build is a negative signal for crude prices because it suggests supply exceeded expectations during the week. At the same time, the lower GDPNow estimate points to softer expected economic growth, which could further weigh on oil demand expectations while supporting expectations for a less restrictive Federal Reserve stance.

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Global Finance News 09-30-26

11-09-26WS News

11-03-26Global Finance News

11-02-26The Investor

NASDAQ:NVDA

NVIDIA Expands Korea AI Strategy With Investments in Point2, Motif, RLWRLD and Upstage

NVIDIA announced new planned investments in Korean artificial intelligence startups, expanding its exposure across AI infrastructure, foundation models, enterprise software and robotics.

The company confirmed an investment in Point2 Technology and said additional investments are planned in Motif Technologies, RLWRLD and Upstage. The announcement came during the MSIT-NVIDIA AI Startup Partnership Forum in Seoul, hosted with Korea’s Ministry of Science and ICT.

Point2 develops radio-frequency interconnect technology designed to move data between chips and racks in AI factories, offering an alternative to conventional copper and optical connections. Motif Technologies develops foundation models for AI agents, while RLWRLD is building robotics foundation models for humanoid and industrial robots performing complex physical tasks.

Upstage focuses on enterprise AI, including its Solar language models and document AI tools for extracting information and automating business workflows.

The investments broaden NVIDIA’s engagement across the full AI stack, from data-center infrastructure to software and physical AI. They also deepen the company’s relationship with Korea’s technology ecosystem, where more than 1,000 startups already participate in the NVIDIA Inception program.

The initiative reinforces NVIDIA’s strategy of supporting companies that could expand demand for AI computing infrastructure while accelerating development of agentic AI, robotics and next-generation AI factories.

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The Investor 11-09-26

NVIDIA Says Vera CPU Delivers Faster AI Agent Performance With Higher Energy Efficiency

NVIDIA (NASDAQ: NVDA) said its Vera CPU can improve both AI agent performance and energy efficiency, targeting data centers increasingly constrained by power availability as agentic AI workloads expand.

According to NVIDIA, Vera enables 1.6 times more AI agents per watt than the fastest x86 CPU while delivering industry-leading agent speed. Compared with the most energy-efficient x86 processor tested, Vera delivered roughly twice the agent speed while maintaining strong power efficiency.

The company highlighted early performance results from several partners. Perplexity reported agentic coding workloads running 1.5 times faster on Vera than traditional CPUs, while DeepInfra achieved up to 2.2 times the speed of its best x86 processor in agent orchestration workloads.

Other tests showed ClickHouse scaling nearly linearly across 176 cores, while Daytona brought 1,000 AI-agent sandboxes online in 10.8 seconds compared with 88.4 seconds using x86 infrastructure. Modal reported up to twice the sandbox throughput per core.

The results reinforce NVIDIA’s push beyond GPUs into CPUs and full-stack AI infrastructure, as data center operators increasingly seek to maximize AI workloads per watt while supporting growing numbers of autonomous agents.

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Global Finance News 11-07-26

NVIDIA will host a conference call on Tuesday, November 17, at 5 p.m. ET to discuss its financial results for the third quarter of fiscal year 2027, which ended October 25, 2026.

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Global Finance News 11-01-26

NVIDIA Unveils Minerva AIOps Platform to Improve AI Factory Uptime and Yield

NVIDIA introduced Minerva, a new AIOps platform designed to give operators end-to-end observability across large-scale AI factories and help maximize GPU productivity.

Minerva combines telemetry from GPUs, networking, storage, schedulers and AI workloads into a unified operational view. NVIDIA said the platform builds a dynamic knowledge graph that maps infrastructure components such as GPUs, SuperNICs, switches and cables together with the workloads running across them.

The platform uses supervised and unsupervised machine learning to analyze billions of data points per hour, detect anomalies, predict emerging failures and correlate related events. Rather than surfacing every individual alert, Minerva is designed to group related symptoms into a smaller number of actionable incidents with likely root causes.

NVIDIA is positioning the platform around “AI factory yield,” which includes metrics such as GPU hours, goodput, cluster uptime and token production. The company said Minerva can help extend time between interruptions, reduce repair times and filter large volumes of telemetry into more meaningful operational signals.

Minerva also includes a native AI assistant and can connect with external agentic AI tools. This allows operators to investigate cluster health through natural-language queries and receive recommended remediation steps, while still keeping humans in the loop or connecting actions to automated infrastructure systems.

IREN is already using Minerva, while Aolani, Bitdeer AI, IBM, Jio, Lambda, Quake AI and Tesla plan to deploy the platform. Dell Technologies, Lenovo and Supermicro are also expected to offer Minerva as part of their AI factory operations portfolios.

The launch expands NVIDIA’s push beyond chips and systems into the software layer used to operate increasingly complex AI infrastructure, giving the company another way to deepen its role across the AI data-center stack.

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European Investor 10-22-26

NVIDIA Launches Isaac ROS 5.0 With Agentic AI Tools for Robotics Development

NVIDIA released Isaac ROS 5.0, expanding its open-source robotics platform with new agentic AI capabilities designed to help developers build, customize and deploy robotics applications faster.

The release adds support for ROS Lyrical and Ubuntu 24.04 while introducing reusable AI-agent skills for setup, manipulation and perception tasks. NVIDIA said new agent-ready documentation and workflows can help AI agents translate developer intent into working robotics applications more efficiently.

One of the key upgrades is FoundationPose, which now includes an agent-ready inference library that can track object position and orientation up to 5.5 times faster. NVIDIA also added a standalone pick-and-place skill combining detection, depth estimation and pose output for robotics developers.

The broader ecosystem is also expanding. RealSense, Intrinsic, Magna, Flexiv, Universal Robots, Mentee Robotics and others are using Isaac ROS across applications ranging from industrial automation and machine tending to humanoid robotics and autonomous manipulation.

Isaac ROS 5.0 supports hardware ranging from Jetson Orin Nano to Jetson Thor, allowing developers to move from development to on-device deployment as robotics workloads grow more complex. The software is available now as a free and open-source release.

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Global Finance News 09-22-26

NVIDIA Launches DSX Ready Program for AI Factory Power and Cooling Systems

NVIDIA introduced DSX Ready, a new qualification program designed to help AI factory builders identify power, cooling and infrastructure products that meet applicable NVIDIA DSX reference-design requirements.

The program launches with two initial categories: battery energy storage systems and cooling distribution units. Qualified BESS products include solutions from Hitachi Energy, LG Energy Solution and Tesla, while qualified CDU providers include LG Electronics, LiquidStack and Vertiv.

DSX Ready is intended to reduce integration risk as AI data centers face increasingly tight power, cooling, water and grid constraints. NVIDIA said the broader DSX platform is designed to treat compute, networking, power, cooling, facilities and software as a single coordinated system rather than separate infrastructure layers.

For battery systems, suppliers complete qualification testing and submit supporting data for NVIDIA review. Cooling providers use a self-qualification suite to determine whether specific CDU products meet NVIDIA’s functional requirements. The company emphasized that qualification does not replace site-level engineering.

NVIDIA plans to add more infrastructure and software categories over time. The initiative reflects the growing importance of power delivery and liquid cooling as AI factories scale to support increasingly dense computing systems.

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European Investor 09-21-26

NVIDIA, Google and Emerald AI Launch Alliance to Tackle AI Data Center Power Constraints

NVIDIA, Google and Emerald AI have launched the AI Energy Management Alliance, a new coalition aimed at making large AI data centers more flexible in how they consume electricity and accelerating their connection to power grids.

Power availability has become a major constraint on the expansion of U.S. AI infrastructure. The alliance is developing a framework that would allow AI data centers to adjust electricity consumption according to grid conditions by shifting computing workloads, using energy storage or paired generation, and reducing demand during periods of system stress.

The approach could allow utilities to connect large AI facilities more quickly while reducing the need for costly grid upgrades. AEMA plans to establish standardized performance requirements covering response times, power curtailment, emergency operations and data sharing between data centers and grid operators.

The initiative brings together AI companies, data center operators, power producers, utilities and grid operators. For NVIDIA and the broader AI industry, addressing electricity constraints is becoming increasingly important as rapidly expanding AI computing capacity requires substantially more power infrastructure.

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WS Investor 09-16-26

NVIDIA Brings Perplexity’s Local AI Agent to Windows RTX PCs

NVIDIA said Perplexity Portable Computer is now available on compatible Windows PCs powered by GeForce RTX and RTX PRO GPUs, expanding access to AI agents that can perform complex tasks locally rather than relying entirely on cloud computing.

Portable Computer is a local version of Perplexity Computer designed to plan and execute multistep tasks. NVIDIA GPUs accelerate local models that can analyze data, work across files and handle recurring tasks while keeping sensitive information on the device. Tasks completed locally also do not consume Perplexity Computer cloud credits.

The platform combines local and cloud AI. For more demanding reasoning tasks, the agent can determine that cloud processing is needed and ask for permission before sending information off-device. It can also connect with services including Microsoft Outlook, OneDrive, Word, Google Drive, Gmail, Slack and GitHub.

The development highlights NVIDIA’s push to expand AI computing beyond data centers and into personal computers. Running increasingly capable AI agents directly on RTX hardware could create another source of demand for high-memory GPUs as agentic AI becomes more integrated into everyday professional workflows.

Portable Computer requires a GeForce RTX or RTX PRO GPU with at least 24GB of VRAM, while support for NVIDIA DGX Station is expected later.

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WS Investor 09-14-26

NVIDIA Says Its AI Platform Is Powering the Global Robotaxi Expansion

NVIDIA is expanding its role in autonomous transportation as robotaxi developers, mobility platforms and automakers increasingly adopt the company’s computing technologies to train, simulate and operate driverless vehicles. NVIDIA says every major robotaxi program currently operating at commercial scale uses at least part of its modular technology stack.

The platform combines three major computing layers: NVIDIA DGX systems for AI model training, Omniverse and Cosmos running on RTX PRO servers for simulation and validation, and DRIVE Hyperion with DRIVE AGX Thor for in-vehicle computing. DRIVE Hyperion 10 uses dual Blackwell-based DRIVE AGX Thor chips alongside cameras, radar, lidar and ultrasonic sensors to provide 360-degree perception and redundant computing.

NVIDIA’s ecosystem now spans many of the biggest names in autonomous mobility. Uber plans to scale NVIDIA DRIVE Hyperion-based robotaxis to 28 cities by 2028 and is working with companies including Lucid, Mercedes-Benz, Nuro, Pony*ai, Wayve and WeRide. Lyft, Bolt, May Mobility and Waymo are also using or working with NVIDIA technologies.

Automakers including Mercedes-Benz, Stellantis, Hyundai, Kia, Geely and Zeekr are also integrating NVIDIA technology into autonomous-driving programs, while Tesla uses NVIDIA supercomputers to train its autonomous-driving neural networks.

The expansion positions NVIDIA to capture computing demand beyond data centers as physical AI moves toward commercial deployment in transportation.

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Global Finance News 09-11-26

US Justice Department probes Nvidia's licensing deal with Groq amid antitrust concerns | Noah Intelligence

The US Department of Justice is examining whether Nvidia's licensing agreement with AI startup Groq was structured to evade antitrust scrutiny, signalling intensified regulation of AI industry mergers.The US Department...

(noah-news.com)

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WS News 09-11-26

11-10-26European Investor

11-09-26WS News

10-26-26WS News

NYSE:CEG

Constellation Energy Jumps 10% as Q3 Earnings Surge and 2026 Guidance Rises

Constellation Energy (NASDAQ: CEG) shares jumped about 10% after the company reported sharply higher third-quarter earnings, raised its full-year outlook and highlighted a growing pipeline of long-term power agreements tied to nuclear generation.

Third-quarter adjusted operating earnings rose to $5.06 per share from $3.04 a year earlier, while GAAP net income increased to $5.19 per share from $2.97.

Constellation raised the midpoint and narrowed its 2026 adjusted operating earnings guidance to $12.50-$12.80 per share, marking the second increase to the midpoint this year.

Growth visibility also improved through several major agreements. The company signed a 20-year, 690 MW power purchase agreement with Amazon supporting more than $3 billion of investment at Calvert Cliffs, and a separate 20-year agreement with Google supporting more than $4.3 billion of investment to add about 890 MW of nuclear capacity to the PJM grid.

Constellation also signed a conditional DOE loan commitment for up to $5 billion to support nuclear uprates and agreed to acquire the 609 MW Rhode Island State Energy Center for $715 million.

The 10% share gain appears to reflect the combination of stronger earnings, higher guidance and increasing visibility into long-term demand from large technology customers, reinforcing Constellation’s position as a major beneficiary of rising power demand from data centers and the broader digital economy.

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The Investor 11-09-26

Constellation Energy (CEG) Q1 2026: Good Results, Wrong Story

Monday, May 11, 2026

Constellation Energy is down 2.46% today after reporting a first quarter that looked strong on the surface but failed to deliver what Wall Street actually needed: a major new hyperscaler contract and cleaner guidance optics. In a stock that has already shed roughly 22% from its 52-week high, "solid" isn't enough.

The Numbers: Strong, But Not the Point

On a headline basis, the results are genuinely good. GAAP net income surged to $4.49 per share from just $0.38 a year ago, and adjusted (non-GAAP) operating earnings rose 28% to $2.74 per share from $2.14 in Q1 2025. The Calpine acquisition — completed in January 2026 for $16.4 billion — is clearly adding scale, contributing meaningfully to both earnings and operational breadth. Constellation's nuclear fleet produced 44,666 gigawatt-hours in the quarter, and renewable energy capture hit 96.7%. The company also commissioned the 105 MW Pastoria Solar Project and brought the 460 MW Pin Oak Creek natural gas facility in Texas online on April 30.

Full-year 2026 adjusted operating earnings guidance was reaffirmed at $11.00 to $12.00 per share. The company also earned the No. 1 spot on Barron's Most Sustainable U.S. Companies list for 2026.

Why the Stock Is Falling

The selloff is not about what Constellation reported — it's about what it didn't announce. The investment case hinges on a single variable: whether Constellation can translate its 147 million megawatt-hours of uncontracted nuclear capacity into long-term, premium-priced agreements with hyperscalers and enterprise customers before the market prices that optionality in. No such announcement came today.

The stock is already down roughly 22% from its 52-week high, and without new data center contracts announced, the re-rating catalyst is delayed. The market had priced in a possible upside surprise. When it didn't materialize, sellers moved.

There's also a regulatory overhang. PJM regulatory clarity on data center interconnection rules is not expected until late 2026, leaving major hyperscaler contract announcements on hold through most of the year. That's a long time to wait in a market that rewards catalysts immediately.

That said, one meaningful development did come through: the PUCT approved the net metering application for co-location of a CyrusOne data center at the Freestone site in Texas, with a 380 MW agreement in place and an exclusive on a further 380 MW for Phase 2. The broader CyrusOne relationship now covers more than 1,100 megawatts — a significant position in the AI power infrastructure build-out, even if it's not the headline hyperscaler deal investors were hoping for.

The Bigger Picture

Constellation remains the most strategically positioned clean power company in the U.S., operating the largest nuclear fleet in the country at a moment when AI data centers are desperate for reliable, carbon-free baseload electricity.

But the stock is in an awkward middle phase: post-acquisition integration, pre-contract announcement, and navigating a PJM regulatory timeline it can't fully control. Until a major hyperscaler deal lands or Crane's interconnection timeline clarifies, the stock is likely to remain range-bound — rewarding patience rather than urgency.

Today's 2.46% decline is the market saying: show me the contract.

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Global Finance News 05-11-26

More Than Just Chips: Why the AI Revolution Needs These 5 Companies

AI is not only about NVIDIA. We are more interested in who is baking the five-layer cake of artificial intelligence.

(thesmartinvestor.com.sg)

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WS Investor 01-19-26

Constellation Energy said it completed its acquisition of Calpine on January 7, 2026, making Calpine a wholly owned subsidiary.

The deal consideration included 50,000,000 newly issued Constellation shares plus $4.50 billion in cash (net of certain expenses). Constellation said former Calpine stockholders now hold about 13.8% of its outstanding common stock (based on shares outstanding as of January 6, 2026).

At closing, Constellation entered a registration rights agreement with certain former Calpine stockholders and disclosed a lock-up schedule that releases half the shares on June 30, 2026 and the remainder on June 30, 2027 (subject to exceptions). Calpine’s existing unsecured and secured notes remain outstanding under their prior indentures.

Constellation also disclosed CFO leadership changes effective at closing, naming Shane Smith as Executive Vice President and Chief Financial Officer, with Daniel Eggers moving to Senior Executive Vice President, Finance and Data Economy.

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The Investor 01-08-26

Constellation secures DOE-guaranteed 1 billion dollar loan facility for nuclear plant restart

Constellation Energy Corporation (CEG) announced that subsidiary Constellation Energy Generation, LLC entered into a 1 billion dollar loan guarantee agreement with the U.S. Department of Energy and a related note purchase agreement with the Federal Financing Bank. The financing will support the restart and repowering of the 835 MW Christopher M. Crane Clean Energy Center, a nuclear facility in Pennsylvania. Borrowings can be made through 2030, up to 80 percent of eligible project costs or 1 billion dollars. The loan carries semiannual interest tied to U.S. Treasury yields plus 0.375 percent and matures in 2055. Constellation has not yet drawn on the facility and must make an initial borrowing by May 2027 to maintain access. The obligations are currently unsecured but may require equal lien status if future secured debt is issued.

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Global Finance News 11-19-25

Constellation Energy reports Q3 2025 earnings; narrows full-year outlook

Constellation Energy Corporation (Nasdaq: CEG) reported third-quarter 2025 GAAP net income of $2.97 per share and adjusted operating earnings of $3.04 per share, up from $2.74 a year earlier. The company narrowed its full-year adjusted earnings guidance to $9.05–$9.45 per share.

CEO Joe Dominguez said the company achieved one of its strongest nuclear operating quarters and secured a major regulatory milestone with the Maryland Department of the Environment’s water quality certification for the Conowingo Dam, enabling its re-licensing and continued operation. Dominguez emphasized nuclear power’s growing role in supporting the expanding data economy and national energy reliability.

CFO Dan Eggers highlighted operational and financial strength, supported by strong nuclear and commercial performance. Excluding Salem and the South Texas Project, Constellation’s nuclear plants achieved a 96.8% capacity factor, up from 95.0% last year, while total nuclear generation rose to 46,477 GWh. The company also reaffirmed plans to close its merger with Calpine, positioning the combined entity to meet growing demand for clean, reliable power.

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European Investor 11-08-25

Constellation Energy Q1 2025 Earnings Summary

Constellation Energy reported GAAP net income of $118 million, or $0.38 per share, for the first quarter of 2025, down from $883 million, or $2.78 per share, in Q1 2024. However, adjusted (non-GAAP) operating earnings rose to $673 million, or $2.14 per share, up from $579 million ($1.82 per share) a year earlier. The company reaffirmed its full-year 2025 adjusted earnings guidance of $8.90 to $9.60 per share.

Revenue increased to $6.79 billion from $6.16 billion in Q1 2024. The nuclear fleet operated at a strong 94.1% capacity factor, and total nuclear generation reached 45,582 GWh. Natural gas and renewables output fell to 5,905 GWh from 8,274 GWh, while purchased power rose to 16,935 GWh.

Key developments:

• The Calpine acquisition remains on track for closing in Q4 2025, promising to enhance capacity and customer reach.
• The Crane Clean Energy Center was selected for fast-track grid interconnection by PJM, supporting expansion of emissions-free power.
• The dispatch match rate for the gas fleet reached 99.2%, and renewables operated at 96.2% capture efficiency.

Constellation’s cash flow from operations was $107 million, while capital expenditures totaled $806 million. Ending cash balance was $1.94 billion, down from $3.13 billion at year-end 2024, driven by investments and timing of working capital changes.

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WS News 05-06-25

Constellation Energy Corporation reported strong financial results for the fourth quarter and full year of 2024, exceeding the top end of its twice-revised guidance range. The company reported GAAP net income of $2.71 per share and adjusted (non-GAAP) operating earnings of $2.44 per share for Q4, while full-year GAAP net income reached $11.89 per share, with adjusted operating earnings at $8.67 per share.

Key highlights include:
- Affirming full-year 2025 adjusted operating earnings guidance of $8.90 - $9.60 per share.
- A definitive agreement to acquire Calpine Corporation, merging Constellation’s clean energy assets with Calpine’s dispatchable natural gas operations.
- A 20-year power purchase agreement with Microsoft to support the Crane Clean Energy Center.
- Completion of $1 billion in share repurchases in 2024, with a total of $2 billion repurchased since 2023.
- Moody’s upgraded Constellation’s credit rating from Baa2 to Baa1.
- Issued the first U.S. corporate green bond including nuclear energy.
- Increased the annual dividend by 25% and announced plans for an additional 10% increase in 2025.

Operationally, Constellation maintained its position as the nation’s top emissions-free energy producer for the 11th consecutive year and achieved a nuclear capacity factor of 94.6%. The company also contributed over $20 million to community initiatives and logged 116,500 volunteer hours.

Looking ahead, Constellation expects continued strong performance, with plans to invest over $2.5 billion in 2025 for operational reliability and growth initiatives, independent of the Calpine acquisition.

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Global Finance News 02-18-25

11-09-26WS News

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10-06-26The Investor

05-11-26Global Finance News

US

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WS Investor 11-10-26

U.S. Inflation Expectations Hold at 3.9% as Atlanta Fed Raises Q4 Growth Estimate

U.S. one-year consumer inflation expectations were unchanged at 3.9% in October, according to the New York Federal Reserve, slightly above the 3.8% forecast.

Separately, the Atlanta Fed’s GDPNow model raised its estimate for fourth-quarter economic growth to 3.5% from 3.4%, also slightly above the 3.4% consensus estimate.

The combination points to a U.S. economy that remains relatively resilient while near-term inflation expectations stay elevated.

For Federal Reserve policy, the data are modestly hawkish: stronger growth estimates and inflation expectations above forecast could reduce the urgency for additional near-term rate cuts.

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WS News 11-09-26

U.S. Consumer Sentiment Improves in November as Inflation Expectations Ease

U.S. consumer sentiment improved more than expected in November, while both short- and long-term inflation expectations declined.

The University of Michigan Consumer Sentiment Index rose to 51.0 from 48.0, beating the 48.1 forecast. Consumer expectations also improved to 50.9 from 48.8, above expectations of 49.5.

One-year inflation expectations fell to 4.3% from 4.7%, below the 4.6% forecast. Five-year inflation expectations eased to 3.4% from 3.5%, also slightly better than expected.

The combination of stronger sentiment and softer inflation expectations is broadly constructive, suggesting consumers became somewhat less pessimistic while inflation concerns moderated. For monetary policy, the decline in inflation expectations partly offsets the earlier strength in payrolls and wages, leaving the Federal Reserve with mixed signals on the inflation outlook.

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WS Investor 11-06-26

U.S. Payrolls Surge by 165,000 in October as Unemployment Falls to 4.1%

U.S. nonfarm payrolls increased by 165,000 in October, far above the 65,000 forecast and up from 60,000 previously, signaling substantially stronger-than-expected job creation.

The unemployment rate fell to 4.1%, compared with expectations for it to remain at 4.2%.

Average hourly earnings also came in stronger than expected, rising 0.4% month over month versus the 0.3% forecast and previous increase.

Taken together, the data point to a resilient labor market with stronger hiring, lower unemployment and firm wage growth. The report could reduce expectations for near-term Federal Reserve rate cuts, as persistent labor-market strength and wage pressures may keep inflation risks elevated.

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WS Investor 11-06-26

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The Investor 11-05-26

U.S. Trade Deficit Narrows in September as Exports Rise Faster Than Imports

The U.S. trade deficit narrowed to $105.0 billion in September, slightly better than the $107.9 billion forecast and down from $105.7 billion in the previous month.

Exports increased to $321.5 billion from $315.7 billion, a rise of $5.8 billion. Imports also increased, reaching $426.6 billion from $421.4 billion, but the $5.2 billion gain was smaller than the increase in exports.

The data therefore point to a modest improvement in the U.S. external trade position, with export growth outpacing import growth during the month.

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WS Investor 11-04-26

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WS Investor 11-04-26

Gold and Bitcoin Rally as Democratic Midterm Sweep Reshapes U.S. Market Outlook

Gold and Bitcoin moved sharply higher on Wednesday while market volatility declined as investors digested a sweeping Democratic victory in the U.S. midterm elections that handed the party control of both the House and Senate.

Democrats captured both chambers of Congress in the November 3 elections, creating a divided government with Republican President Donald Trump and raising expectations that parts of the administration’s legislative agenda could face greater resistance during the second half of his term.

Gold futures jumped 2.9% to about $4,055 an ounce in early trading, rebounding strongly above the $4,000 level. The move coincided with a weaker U.S. dollar and a post-election rally in Treasuries. The move is particularly notable because gold had struggled as a traditional safe haven in the weeks leading into the election. The post-election rebound suggests that falling yields, dollar weakness and renewed political uncertainty may be providing support for the non-yielding metal.

Bitcoin also recovered strongly, rising 1.6% to around $78,200 after briefly falling below $76,000 overnight. The rebound came as broader risk sentiment stabilized following the election result. Lower interest-rate expectations can provide support for speculative assets such as cryptocurrencies, although Bitcoin has also been dealing with crypto-specific volatility following recent market disruptions.

Treasury markets showed an important shift around the election. The 10-year yield had closed November 3 at about 4.95%, up 1.2% on the day, but yields subsequently moved lower as investors assessed the implications of Democratic congressional control.

Meanwhile, the CBOE Volatility Index fell 8.2% to 19.13. The decline in the VIX suggests that the removal of election uncertainty outweighed immediate concerns about political confrontation in Washington.

The market response therefore presents an unusual combination: gold is benefiting from lower yields and political uncertainty, Bitcoin is rebounding alongside improving risk appetite, and volatility is declining as investors gain greater clarity over the political landscape.

The Democratic sweep could still create significant sector-level consequences. With Congress now positioned to challenge Trump administration policies and increase oversight, markets are likely to focus increasingly on fiscal spending, tariffs, energy policy and regulation of the rapidly expanding AI and data-center industries.

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European Investor 11-04-26

U.S. Job Openings and Factory Orders Beat Forecasts in September

U.S. economic data came in stronger than expected in September, with both job openings and factory orders exceeding market forecasts.

JOLTS job openings rose to 7.523 million, well above the 7.150 million forecast and up from 7.190 million previously. The stronger reading suggests labor demand remained relatively resilient despite signs of gradual cooling elsewhere in the employment market.

Factory orders increased 1.8% month over month, also beating the 1.2% forecast and accelerating sharply from the previous 0.3% increase.

The combination of stronger labor demand and faster factory-order growth points to firmer underlying economic activity than expected. For financial markets, the data may modestly reduce expectations for aggressive Federal Reserve easing, particularly if upcoming employment and inflation indicators also remain strong.

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The Investor 11-03-26

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European Investor 11-02-26

11-08-26WS News

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NASDAQ:SPCX

US Justice Department probes Nvidia's licensing deal with Groq amid antitrust concerns | Noah Intelligence

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WS News 09-11-26

SpaceX's next trillion dollar bet has nothing to do with rockets, Musk tells staff

Elon Musk told SpaceX employees AI revenue will soon surpass Starlink and rockets combined, projecting up to $500 billion a year by 2027.

(teslarati.com)

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European Investor 08-15-26

SpaceX officially closes its Cursor acquisition

AI coding startup Cursor is now officially a part of SpaceX.

(finance.yahoo.com)

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European Investor 08-15-26

11-10-26European Investor

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NASDAQ

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WS Investor 11-10-26

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European Investor 10-13-26

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NASDAQ:ASTS

AST SpaceMobile Edges 0.03% Higher Premarket as Service Launch Nears and Funding Expands

AST SpaceMobile (NASDAQ: ASTS) shares were nearly flat, edging about 0.03% higher in premarket trading after the company outlined progress toward initial commercial service, expanded launch plans and new non-dilutive funding.

Third-quarter revenue reached $42.3 million, driven by gateway deliveries and U.S. government milestones. AST SpaceMobile reiterated its 2026 revenue guidance of $150 million-$200 million and said recent contract wins could provide upside.

Operationally, the company expects to begin intermittent nationwide service in the U.S. and other key markets before the end of 2026. It is targeting roughly 45 BlueBird satellites in orbit by mid-2027 and now has launch agreements covering more than 100 satellites expected to be deployed during 2027 and 2028.

AST also announced Blacklift, its planned 20-ton reusable rocket designed to carry up to five BlueBird satellites per launch beginning in late 2028, giving the company greater control over future deployment schedules.

Funding visibility improved as well. The company ended the quarter with about $3.2 billion in cash, cash equivalents and restricted cash, while Japan’s Ministry of Internal Affairs and Communications is providing approximately $1.0 billion in non-dilutive funding for satellite manufacturing and launch. AST also cited a pipeline of roughly $1.2 billion in additional U.S. quasi-governmental financing for 2027.

The muted premarket reaction appears to reflect a balance between strong strategic progress in service readiness, launch capacity and funding, and continued heavy spending as the company scales its constellation and manufacturing infrastructure.

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European Investor 11-10-26

AST SpaceMobile Stock Jumps 9.4% as Berenberg Sets $92 Target and UBS Turns Bullish

AST SpaceMobile (NASDAQ: ASTS) shares surged about 9.4% Wednesday following bullish analyst activity, including a new Buy rating from UBS and a $92 price target from Berenberg Bank.

Berenberg set its price target for AST SpaceMobile at $92 while maintaining a Buy rating. With the stock trading around $61.06, the target implies approximately 51% upside from the current share price.

UBS also initiated coverage of AST SpaceMobile, with analyst Christopher Schoell assigning a Buy rating. The new coverage adds another bullish Wall Street view on the satellite communications company.

AST SpaceMobile is developing a space-based cellular broadband network designed to connect ordinary smartphones directly to satellites without requiring specialized hardware. The company operates in the rapidly developing direct-to-device satellite communications market, where successful deployment could significantly expand mobile connectivity in areas with limited terrestrial coverage.

The 9.4% rise appears to reflect increased investor confidence following the two positive analyst actions, particularly Berenberg’s substantial implied upside and UBS’s new Buy recommendation.

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The Investor 09-02-26

AST SpaceMobile Stock Edges Lower Despite $1.3 Billion Backlog and Rapid Satellite Expansion

AST SpaceMobile (NASDAQ: ASTS) shares were down about 0.45% after the company reported second-quarter 2026 results, with investors weighing accelerating commercial progress and a rapidly expanding satellite network against high spending and still-modest near-term revenue.

The direct-to-device satellite communications company reported Q2 revenue of $31.5 million, generated primarily from gateway deliveries and U.S. government milestones. AST SpaceMobile maintained its full-year 2026 revenue guidance of $150 million to $200 million.

Backlog Reaches $1.3 Billion

The strongest part of the update was AST SpaceMobile's expanding commercial and government pipeline.

Revenue backlog increased to approximately $1.30 billion, including contracted commercial revenue and U.S. government awards. The company has now signed partnerships with more than 60 mobile network operators covering over 3 billion subscribers globally.

AST SpaceMobile also reported more than $125 million of U.S. government awards supporting national-security applications, while the preliminary selection of its joint venture with Rakuten for Japan's J-LEO initiative could represent as much as $1 billion in non-dilutive, non-debt government capital.

Operationally, the constellation has expanded to 13 satellites following the launches of BlueBirds 8 through 13. BlueBirds 14, 15 and 16 are expected to be ready for shipment shortly, while BlueBirds 17 through 46 are in various stages of production and assembly.

The company continues to target beta cellular broadband services during 2026 and said 3,000 digital cells have already been activated across the continental U.S.

Heavy Spending Remains a Key Issue

The financial results also highlighted the enormous capital requirements associated with building the network.

Total operating expenses reached $329.1 million in Q2, compared with $164.1 million in Q1, although the increase included a $125.9 million loss on involuntary conversion. Adjusted operating expenses increased to $119.1 million from $91.2 million.

AST SpaceMobile nevertheless enters the next phase of deployment with substantial liquidity. It held approximately $2.7 billion of cash, cash equivalents and restricted cash at the end of June and reported more than $3.7 billion on a pro forma basis following its July financing.

The company raised $1.15 billion through convertible senior notes in July, providing additional capital for satellite production, vertical integration and launch capacity.

ASTS's modest 0.45% decline suggests a relatively balanced initial reaction. The update provided substantial evidence of commercial traction, including the $1.3 billion backlog, expanding government business and accelerating satellite deployment. At the same time, investors continue to face the central question surrounding AST SpaceMobile: how quickly its rapidly expanding infrastructure and partnerships can translate into large-scale recurring revenue relative to the company's significant spending requirements.

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Global Finance News 08-11-26

AST SpaceMobile surged nearly 19% today as investors rushed into space and satellite-related stocks amid intensifying excitement surrounding the anticipated SpaceX IPO and renewed momentum across the commercial space sector.

The rally accelerated after multiple reports suggested SpaceX could move forward with what may become the largest IPO in market history, with projected valuations ranging from $1.5 trillion to $2 trillion. The potential listing has reignited speculative and institutional interest across the broader space economy, lifting companies tied to satellite communications, launch infrastructure and next-generation connectivity.

AST SpaceMobile appears to be one of the biggest beneficiaries of that enthusiasm. Investors increasingly view the company as a key player in the emerging direct-to-device satellite communications market, where smartphones connect directly to satellites without requiring specialized hardware. The company’s partnerships with AT&T and Verizon have strengthened its profile as telecom operators race to expand satellite coverage capabilities.

Momentum also received a boost following SpaceX’s latest Starship test flight, which, despite ending with the upper stage breaking apart over the Indian Ocean, successfully demonstrated upgraded systems and satellite deployment capabilities. The event reinforced optimism around the long-term growth potential of the commercial space industry and helped fuel buying across the sector.

Analysts and traders have increasingly linked AST SpaceMobile’s valuation to the broader re-rating of space technology assets ahead of the SpaceX debut. Some investors see the upcoming IPO as a “halo event” that could draw significant new capital into smaller public space companies, including AST SpaceMobile and Rocket Lab.

The stock’s sharp move also reflects continued investor appetite for high-growth, speculative technology themes tied to satellite broadband, orbital infrastructure and global connectivity.

Source: Reuters, MarketWatch, Barron’s, Moneycheck

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WS Investor 05-26-26

AST SpaceMobile (ASTS) Q1 2026: Costs Surge, Loss Widens, Stock Falls 12% in Premarket

Monday, May 11, 2026

AST SpaceMobile is down 12% in premarket trading after reporting a first quarter that revealed the steep financial cost of building a space-based cellular network at scale. Revenue of just $14.7 million against a net loss of $191 million is a jarring ratio — and while the company's operational progress is genuine, the market is repricing the burn rate risk this morning.

The Numbers: Small Revenue, Large Loss

Total revenues were $14.7 million in Q1, up dramatically from $718,000 a year ago but still a fraction of what is needed to offset a $164.1 million operating expense base. The net loss attributable to common stockholders was $191 million, or $(0.66) per share, compared to a loss of $45.7 million, or $(0.20) per share, in Q1 2025. Engineering services costs alone hit $84.1 million — more than five times revenue — driven by accelerating satellite manufacturing activity. G&A costs surged to $43.7 million from $18.4 million a year ago. A significant non-cash item also hit the quarter: an $88.7 million induced conversion expense tied to the repurchase of convertible notes, which flowed through other expenses and amplified the reported loss.

Adjusted operating expenses of $91.2 million, stripping out stock-based compensation and D&A, are a cleaner read on the cash burn — and even those are rising sequentially as the company scales its manufacturing workforce and infrastructure.

Cash is Not the Problem — Yet

The one unambiguously positive financial data point is the balance sheet. ASTS ended Q1 with approximately $3.5 billion in cash, cash equivalents, and restricted cash — up from $2.8 billion at year-end 2025, after raising $1.06 billion in new debt during the quarter. With total assets of $6.1 billion and $1.8 billion in capitalized satellite and infrastructure costs, the company has the runway to execute its build-out plan. Debt has grown significantly however, with long-term debt now at $2.96 billion, and interest expense of $24.3 million in the quarter is a growing line item. The fortress balance sheet is real, but it is increasingly leveraged.

Operational Progress: The Bull Case

The operational update is genuinely encouraging for believers in the thesis. BlueBird 8, 9, and 10 are on track for a mid-June launch on a Falcon 9. BlueBird 11 through 33 are in advanced stages of production and assembly, with phased arrays completed through BlueBird 28. The company is targeting approximately 45 satellites in orbit during 2026. A new peak data speed record of 98.9 Mbps was achieved directly to an unmodified smartphone from a Block 1 BlueBird satellite — and the Block 2 satellite in orbit today is expected to nearly double that.

The FCC has granted Supplemental Coverage from Space authorization for commercial SpaceMobile service in the United States, covering up to 248 satellites — a major regulatory milestone. The commercial partner ecosystem now spans nearly 60 global mobile network operators covering over 3 billion subscribers, with Telus in Canada the latest addition. Three new U.S. Government awards have been won since March. Full-year 2026 revenue guidance of $150 to $200 million remains intact, with roughly half backed by existing contracted backlog.

Why the Stock is Selling Off

The 12% premarket drop is a collision between two realities. The operational story — satellite manufacturing at scale, record data speeds, FCC approval, 60 MNO partners — is progressing. But the financial reality is that costs are accelerating faster than revenue, the net loss nearly quadrupled year-over-year, and the share count is expanding as the company issues equity to manage its convertible note obligations. Investors who bought ASTS as a near-term revenue inflection story are recalibrating the timeline this morning.

The Bottom Line

AST SpaceMobile remains one of the most technically ambitious companies in public markets.

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The Investor 05-12-26

AST SpaceMobile reported third-quarter 2025 revenue of 14.7 million dollars, driven mainly by U.S. Government contract milestones and gateway deliveries. The company achieved more than 1 billion dollars in aggregate contracted revenue commitments from partners, reflecting strong commercial demand as it advances toward its 2026 service rollout.

Recent milestones include long-term commercial agreements with Verizon and Saudi Arabia’s stc Group—worth 175 million dollars in prepaid services—and new U.S. Government contract awards. AST also announced plans for a new EU satellite constellation with Vodafone and upcoming service activations across the U.S., Canada, Japan, Saudi Arabia, and the U.K.

The company began its multi-launch campaign, with BlueBird 6 shipped to India for a December launch and BlueBird 7 heading to Cape Canaveral in November. It expects to launch five satellites by the end of Q1 2026, targeting a 45–60 satellite constellation by the end of 2026.

Operating expenses reached 94.4 million dollars in the quarter, up from 74.0 million dollars in Q2, due mainly to higher engineering and gateway delivery costs. Adjusted operating expenses were 67.7 million dollars.

AST reported 3.2 billion dollars in total liquidity, including cash, equivalents, restricted cash, and ATM facility availability. It raised 1.15 billion dollars from a 10-year convertible note offering at a 2% coupon and reduced its older 4.25% convertible notes to 50 million dollars outstanding. CEO Abel Avellan said the results demonstrate accelerating commercial traction and a solid balance sheet to fund its global satellite broadband rollout.

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The Investor 11-11-25

AST SpaceMobile Secures $420 Million Loan Facility with UBS

AST SpaceMobile (NASDAQ: ASTS) announced that its subsidiary BackstopCo, LLC entered into a $420 million cash-collateralized term loan agreement with UBS AG’s Stamford Branch on October 31, 2025. The loan bears interest at Term SOFR plus 2% and matures in October 2028. It is secured by BackstopCo’s assets, while AST SpaceMobile is not a borrower or guarantor. The agreement includes customary covenants and requires BackstopCo to maintain collateral equal to at least 102% of the outstanding loan amount.

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The Investor 11-04-25

AST SpaceMobile and stc Group Sign 10-Year Deal for Satellite Mobile Broadband Across MENA

AST SpaceMobile (NASDAQ: ASTS) and Saudi Arabia’s stc Group announced a 10-year commercial agreement to deploy direct-to-device satellite broadband connectivity across Saudi Arabia and select markets in the Middle East and Africa. The deal includes a $175 million prepayment from stc and a long-term revenue commitment. Under the partnership, AST SpaceMobile will integrate its space-based cellular network with stc’s terrestrial infrastructure, build three ground gateways, and establish a Network Operations Center in Riyadh. The initiative aims to deliver 4G and 5G coverage directly to standard smartphones, expanding access to remote and underserved regions. Commercial service is expected to launch in late 2026, pending regulatory approvals.

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The Investor 10-29-25

AST SpaceMobile, Inc. (ASTS) priced 1.0 billion dollars of 2.00% convertible senior notes due 2036 in a Rule 144A offering, upsized from 850 million dollars.

The notes initially convert at 10.3845 shares per 1,000 dollars (about 96.30 dollars per share, a 22.5% premium to the 78.61 dollars close on October 21, 2025) and are redeemable at the company’s option on or after January 22, 2029 if the stock trades at least 130% of the conversion price, subject to conditions. Initial purchasers have a 13-day option for an additional 150 million dollars. Net proceeds are estimated at about 981.9 million dollars (or 1.129 billion dollars with the option) for general corporate purposes, including satellite constellation deployment. Separately, the company priced a registered direct offering of roughly 2.0 million Class A shares at 78.61 dollars to help fund the repurchase of 50 million dollars of its 4.25% convertible notes due 2032.

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WS Investor 10-24-25

AST SpaceMobile announced plans for a private offering of $850 million in convertible senior notes due 2036, with an option for initial purchasers to buy up to an additional $150 million in notes. The notes will be senior, unsecured obligations, paying semiannual interest and maturing on January 15, 2036, unless converted, redeemed, or repurchased earlier. They will be convertible into cash, Class A common stock, or both, at the company’s discretion.
Proceeds will be used for general corporate purposes, primarily to fund satellite deployment for its planned global space-based cellular broadband network.

In a separate registered direct offering, AST SpaceMobile also plans to sell Class A shares to help finance the repurchase of up to $50 million of its existing 4.25% convertible notes due 2032 through privately negotiated transactions.

The offerings are independent but cross-conditional and are not registered under the Securities Act, meaning they will be sold only to qualified institutional buyers under Rule 144A.

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The Investor 10-22-25

05-30-26The Investor

05-20-26European Investor

05-12-26European Investor

NYSE:NRG

NRG Energy Jumps 8% as Q3 Earnings Surge and $4 Billion Asset Sale Boosts Capital Returns

NRG Energy (NYSE: NRG) shares jumped about 8% after the company reported sharply higher third-quarter earnings, reaffirmed its 2026 outlook and announced a $4 billion asset sale that will support additional share repurchases and debt reduction.

Third-quarter adjusted EBITDA rose to $2.01 billion from $1.21 billion a year earlier, while adjusted net income increased to $983 million from $537 million. Adjusted EPS climbed to $4.68 from $2.78, and free cash flow before growth investments increased to $1.24 billion from $828 million.

Growth was driven by contributions from the LS Power portfolio, higher realized capacity prices in the East and stronger Texas margins, including favorable weather effects.

NRG reaffirmed its 2026 guidance, including adjusted EBITDA of $5.325-$5.825 billion, adjusted EPS of $7.90-$9.90 and free cash flow before growth investments of $2.8-$3.3 billion.

The company also announced a $4 billion agreement to sell selected generation assets, with proceeds expected to support higher share repurchases and debt reduction. In addition, NRG said its previously announced 1.2 GW Bring Your Own Power data center project remains on track.

The 8% share gain appears to reflect the combination of strong earnings growth, robust cash generation and the asset sale, which increases visibility into shareholder returns while preserving capital for future data center and power-market growth opportunities.

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The Investor 11-09-26

NRG Energy, Inc. updated its 2026 financial guidance following the completion of its acquisition of an LS Power asset portfolio on January 30, 2026. The revised outlook reflects approximately 11 months of ownership of the acquired assets during 2026 and incorporates their expected contribution into NRG’s previously communicated outlook, which the company said remains unchanged.

NRG is introducing guidance for Adjusted Net Income and Adjusted Earnings Per Share for the first time, while also updating its ranges for Adjusted EBITDA and Free Cash Flow before Growth. For 2026, the company now expects Adjusted Net Income of $1.685 billion to $2.115 billion and Adjusted EPS of $7.90 to $9.90. Adjusted EBITDA is projected at $5.325 billion to $5.825 billion, while Free Cash Flow before Growth is expected to range between $2.8 billion and $3.3 billion. The midpoint of guidance implies Adjusted Net Income of $1.9 billion, Adjusted EPS of $8.90, Adjusted EBITDA of $5.575 billion and Free Cash Flow before Growth of $3.05 billion.

The company said it will provide additional detail on its long-term outlook during its full-year and fourth-quarter 2025 earnings call, scheduled for February 24, 2026.

Source: NRG Energy, Inc.

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European Investor 02-03-26

NRG Energy Q3 2025 Results: Strong Earnings, Data Center Expansion, and New $3 Billion Buyback

NRG Energy reported third-quarter 2025 GAAP net income of $152 million and adjusted EBITDA of $1.21 billion, with adjusted net income of $537 million and adjusted EPS of $2.78. Free cash flow before growth investments reached $828 million, while operating cash flow totaled $484 million.

The company reaffirmed its recently raised 2025 financial guidance and introduced its 2026 standalone guidance (excluding the LS Power portfolio), consistent with long-term growth targets.

NRG expanded its long-term retail power agreements for data centers to 445 MW with an existing customer, strengthening its foothold in the fast-growing digital infrastructure segment. The company also closed a Texas Energy Fund (TEF) loan for its 689 MW Cedar Bayou combined-cycle facility, receiving its initial disbursement, and remains on track to add 1.5 GW of new generation through the TEF program.

The acquisition of LS Power’s portfolio remains on schedule for completion in the first quarter of 2026, a move expected to enhance NRG’s generation mix and earnings profile.

NRG’s board approved a new $3 billion share repurchase authorization through 2028, with $1 billion planned for execution in 2026, underscoring confidence in cash flow strength and capital discipline.

CEO Larry Coben highlighted that the company’s customer-centric approach and strategic execution continue to drive robust financial results, positioning NRG to capitalize on rising electricity demand amid the ongoing “demand supercycle.”

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The Investor 11-06-25

NRG Energy, Inc. disclosed in its October 1, 2025 Form 8-K that its subsidiary, **NRG Cedar Bayou 5 LLC**, entered into a **$561.9 million credit agreement** with Wilmington Trust (as agent) and the Public Utility Commission of Texas (as lender). The financing will cover about **60% of eligible costs** for a planned **721 MW natural gas-fired combined-cycle power plant** in Chambers County, Texas, within ERCOT.

The loan carries **3% interest**, payable quarterly, but interest will be capitalized (paid in kind) until the project reaches commercial operation. The facility matures on **September 26, 2045**. NRG also signed an equity contribution agreement and guaranty, backing the borrower’s obligations. The deal includes covenants limiting additional debt and asset transfers, as well as mandatory prepayment triggers. A key default condition is failure to achieve commercial operation by **December 1, 2028**.

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The Investor 10-01-25

NRG Energy to Acquire 13 GW LS Power Portfolio, Launches Debt Offerings

NRG Energy, Inc. (NYSE: NRG) announced it has entered into a purchase agreement to acquire a portfolio of generation and related assets from affiliates of LS Power. The deal includes about 13 GW of natural gas-fired facilities and a commercial and industrial virtual power plant platform with 6 GW of capacity. NRG expects the portfolio to contribute roughly $1.6 billion to Adjusted EBITDA, including $800 million in anticipated revenue enhancements within 18 months of closing.

To finance the acquisition, NRG launched concurrent offerings of senior secured notes due 2030 and 2035 and senior unsecured notes due 2034 and 2036, under Rule 144A and Regulation S.

Separately, NRG secured a $216 million loan from the Texas Energy Fund (TEF) to support development at its T.H. Wharton facility and anticipates a $562 million TEF loan for its Cedar Bayou facility, both at a 3% fixed rate with long-term maturities.

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Global Finance News 09-25-25

NRG Energy Reports Strong Q1 2025 Results, Announces $6.4 Billion Acquisition and Reaffirms Guidance

HOUSTON – May 12, 2025 – NRG Energy (NYSE: NRG) reported robust financial performance for Q1 2025, with GAAP net income rising to $750 million from $511 million a year earlier. Adjusted net income surged 74% year-over-year to $531 million, with adjusted EPS at $2.68. Revenue climbed to $8.6 billion, up from $7.5 billion, supported by strong contributions across all segments, including a 91% In-the-Money-Availability rate in its generation fleet and continued growth in its Vivint Smart Home business.
The company reaffirmed its 2025 guidance, projecting adjusted EPS between $6.75 and $7.75, and free cash flow before growth investments (FCFbG) between $1.975 billion and $2.225 billion.
NRG also announced a major strategic acquisition: a $6.4 billion cash and stock deal with LS Power for a 13 GW natural gas generation portfolio and a 6 GW commercial and industrial virtual power plant platform. The deal includes assumption of $3.2 billion in debt and is expected to close in Q1 2026 pending regulatory approvals.
Other highlights include:
• Acquisition of a 738 MW Texas gas portfolio for $560 million.
• Ongoing progress on three brownfield Texas Energy Fund projects totaling 1.5 GW.
• Return of $532 million to shareholders through share buybacks and dividends as of April 30.
With $5.2 billion in liquidity and continued investment in capacity and customer services, NRG emphasized its readiness to capitalize on tightening power markets and demand growth.

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WS News 05-13-25

NRG Energy Announces Executive Leadership Transition

NRG Energy Inc. announced that Rasesh Patel, President of Consumer, will retire effective May 19, 2025. He will remain in his current role through the company’s first-quarter earnings call and continue to serve in an advisory capacity afterward to support the transition. A successor is expected to be named by the end of the second quarter.

Patel joined NRG in 2023 following the company’s acquisition of Vivint Smart Home. In 2024, he assumed leadership of the entire Consumer business, integrating Home Energy and Smart Home services. Under his leadership, NRG launched its first residential virtual power plant (VPP) and strengthened its consumer-focused platform.

Chair and CEO Larry Coben praised Patel’s contributions, highlighting his role in shaping a unified Consumer platform and driving innovation within the company.

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Global Finance News 04-08-25

NRG Energy, Inc. reported strong financial results for 2024, exceeding the top end of its raised adjusted EPS guidance and returning $1.3 billion to shareholders. The company announced a major project development agreement with GE Vernova and Kiewit to bring up to 5.4 GW of new gas-fired generation online between 2029 and 2032. It also signed letters of intent with two data center developers for NRG-owned sites, initially targeting 400 MW.

For the year, GAAP net income was $1.1 billion, GAAP EPS was $5.14, adjusted net income was $1.4 billion, adjusted EPS was $6.83, adjusted EBITDA was $3.8 billion, and free cash flow before growth investments (FCFbG) was $2.1 billion. The company reaffirmed its 2025 guidance, projecting adjusted EPS of $6.75 to $7.75 and FCFbG between $1.975 billion and $2.225 billion.

Segment results showed a decline in adjusted EBITDA for Texas due to asset sales, mild weather, and extended maintenance. The East segment improved, benefiting from higher retail power margins and customer growth. The West and Services segment increased due to better retail power margins, and Vivint Smart Home grew with over 5% net subscriber growth, a 6% margin expansion, and a 90% retention rate.

Capital allocation remained a priority, with $1.263 billion returned to shareholders, including $925 million in share repurchases and $338 million in dividends. The company plans $1.3 billion in share repurchases and approximately $345 million in dividends in 2025. Liquidity stood at $5.4 billion, up $600 million from the prior year.

NRG advanced its 1.5 GW Texas brownfield natural gas development, with 1.1 GW under Texas Energy Fund due diligence. The company also maintained strong financial and operational performance, with an 88% in-the-money availability rate for its generation fleet.

The earnings call will be held on February 26, 2025, at 9:00 a.m. Eastern, with webcast access available on the investor relations website.

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WS Investor 02-26-25

NRG Energy, GE Vernova, and Kiewit's subsidiary TIC have announced a new initiative to accelerate electricity generation capacity in response to growing demand for computing power and generative AI. The partnership aims to bring new power generation solutions to market efficiently.

GE Vernova, a global energy company specializing in power, wind, and electrification, is leading efforts to support the energy transition by providing advanced gas-powered technologies and decarbonization solutions. Headquartered in Cambridge, Massachusetts, the company has over 80,000 employees across 100 countries, focusing on affordable, reliable, and sustainable energy.

The announcement highlights GE Vernova’s continued commitment to electrification and reducing carbon emissions while addressing the increasing energy needs of modern technology.

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WS Investor 02-26-25

China

China Trade Surplus Narrows in October as Import Growth Outpaces Exports

China’s trade surplus narrowed sharply in October to $105.28 billion, well below the $126.50 billion forecast and down from $133.53 billion previously.

Imports surged 41.6% year over year, significantly stronger than the 32.0% forecast and 31.0% previous increase, pointing to a notable acceleration in domestic demand for foreign goods.

Exports also remained strong, rising 35.2% from a year earlier. That was above the 33.5% forecast but slower than the previous 36.3% increase.

The smaller trade surplus therefore primarily reflects imports growing faster than exports rather than weakness in overseas shipments. The data offer a relatively constructive signal for domestic demand, although the sharp narrowing in the surplus could reduce the net contribution of trade to economic growth.

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European Investor 11-10-26

China CPI Inflation Slows to 0.7% in October as Producer Prices Rise Faster Than Expected

China’s consumer inflation eased in October, with the CPI rising 0.7% year over year, below the 0.8% forecast and down from 0.9% previously.

On a monthly basis, consumer prices were unchanged, matching expectations but slowing from the previous 0.2% increase.

Meanwhile, producer prices rose 5.7% year over year, exceeding the 5.3% forecast and accelerating from 5.0% previously.

The data present a mixed inflation picture. Softer consumer-price growth points to relatively subdued household inflation pressures, while stronger producer-price growth suggests increasing price pressure further upstream in the economy.

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WS News 11-09-26

China Services PMI Falls to 50.8 in October, Missing Forecasts

China’s RatingDog Services PMI fell to 50.8 in October, below the 51.7 forecast and down from 51.6 in the previous month.

The reading remained above the 50 threshold that separates expansion from contraction, indicating that activity in the services sector continued to grow, but at a much slower pace.

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European Investor 11-04-26

China RatingDog Manufacturing PMI Holds at 52.0 in October

China’s RatingDog Manufacturing PMI came in at 52.0 in October, matching market expectations and edging down slightly from 52.1 in September.

The reading remained comfortably above the 50 threshold that separates expansion from contraction, indicating that manufacturing activity continued to grow.

The result suggests China’s factory sector maintained steady momentum at the start of the fourth quarter, although the slight monthly easing points to broadly stable rather than accelerating conditions.

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The Investor 11-02-26

China Keeps Loan Prime Rates Unchanged in October

China left its benchmark lending rates unchanged in October, in line with market expectations.

The one-year Loan Prime Rate was maintained at 3.00%, matching both the 3.00% consensus forecast and the previous reading.

The five-year Loan Prime Rate, which is closely linked to mortgage pricing, was also held steady at 3.50%, unchanged from the prior month and in line with expectations.

The decision indicates that Chinese policymakers are maintaining current borrowing-cost settings for now, despite continued weakness in areas such as fixed-asset investment. With the move fully expected, the rate decision itself is unlikely to create a major market surprise.

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WS News 10-20-26

China Q3 Growth Beats Expectations as Industrial Output Strengthens

China’s economy expanded 4.5% year over year in the third quarter, slightly above the 4.4% consensus estimate and accelerating from 4.3% previously.

On a quarter-over-quarter basis, GDP grew 1.2%, also beating expectations of 1.1% and improving from 0.9% in the second quarter.

Industrial production provided additional support, rising 5.5% year over year in September versus the 5.4% forecast and 5.2% previously. The unemployment rate also improved to 5.2% from 5.3%, better than the 5.3% consensus.

The main weak spot remained fixed-asset investment, which fell 7.2% year over year. While this was marginally better than the 7.3% decline expected, it was unchanged from the previous reading.

Overall, the data point to firmer near-term economic momentum in China, with stronger GDP growth, industrial activity and employment conditions offset by persistent weakness in investment.

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WS News 10-19-26

China PMIs Improve in September as Manufacturing and Services Return to Expansion

China’s September activity data showed a broad improvement across both manufacturing and services, with most major PMI readings moving above the 50 level that separates expansion from contraction.

The official Manufacturing PMI rose to 50.1 from 49.8, matching expectations and signaling a return to modest expansion. The official Non-Manufacturing PMI improved more sharply to 50.2 from 49.0, beating the 49.2 consensus.

The Composite PMI also strengthened to 50.7 from 49.5, indicating that overall business activity returned to expansion.

Private-sector RatingDog surveys were stronger. The Manufacturing PMI climbed to 52.1 from 51.5, beating expectations of 51.7, while the Services PMI rose to 51.6 from 51.4 and also exceeded forecasts.

The September readings suggest China’s economy gained some momentum at the end of the third quarter, with both factory and service-sector activity improving. For markets, the data are broadly supportive for Chinese equities, industrial commodities and other assets sensitive to Chinese growth, though investors will still watch whether the improvement is sustained in coming months.

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WS News 09-30-26

China’s Industrial Profit Growth Slows in August

China’s industrial profits rose 15.7% year to date in August, slowing from the previous reading of 17.6%.

The moderation suggests profit growth among Chinese industrial companies lost some momentum, even though earnings remained firmly positive on a cumulative basis.

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WS News 09-28-26

China Holds Five-Year Loan Prime Rate at 3.50% in September

China kept its five-year Loan Prime Rate (LPR) unchanged at 3.50% in September, matching market the previous month’s level.

The decision signals that Chinese policymakers are maintaining current borrowing-cost settings despite continued concerns about economic momentum and the property sector.

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WS News 09-20-26

China Industrial Production Beats Forecasts as Investment Weakness Deepens

China’s economic data for August painted a mixed picture, with stronger industrial activity offset by weaker investment and a slight rise in unemployment.

Industrial production increased 5.2% year over year, beating the 4.8% forecast and accelerating from 4.5% previously. The stronger reading suggests China’s manufacturing and industrial sectors maintained momentum despite broader economic pressures.

However, fixed asset investment fell 7.2% year over year, slightly worse than the expected 7.1% decline and deeper than the previous 6.7% contraction. Meanwhile, the unemployment rate edged up to 5.3% from 5.2%, also above expectations.

The figures highlight an uneven Chinese recovery, with industrial strength contrasting with persistent weakness in investment and the labor market.

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WS News 09-15-26

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05-11-26WS Investor

05-08-26Global Finance News

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