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Lakeland Financial Rises 3.8% as Record Q3 Earnings, Loan Growth and Margin Expansion Impress Lakeland Financial (NASDAQ: LKFN) shares rose

Lakeland Financial (NASDAQ: LKFN) shares rose about 3.8% after the company reported record third-quarter 2026 earnings, supported by strong loan growth and continued improvement...

10-26-26

Bank of Hawai‘i Slips 0.3% as Higher Nonperforming Assets Offset Margin Expansion Bank of Hawai‘i (NYSE: BOH) shares fell about

(NYSE: BOH) shares fell about 0.3% after the company reported modest sequential earnings growth and another quarter of net interest margin...

10-26-26

Alliance Resource Partners Rises 2% as Q3 Earnings, Coal Volumes and Royalty Revenue Strengthen Alliance Resource Partners (NASDAQ: ARLP) shares

(NASDAQ: ARLP) shares rose about 2% after the company reported stronger third-quarter 2026 earnings, improved coal operating costs and record oil...

10-26-26

MakeMyTrip Falls 3% as Currency Pressure and Weak International Travel Offset Strong Booking Growth MakeMyTrip (NASDAQ: MMYT) shares fell about

MakeMyTrip (NASDAQ: MMYT) shares fell about 3% after the company reported solid fiscal second-quarter 2027 booking growth but faced significant currency headwinds and weaker...

10-26-26

Verizon Falls 3.8% Despite Record Q3 Subscriber Growth and Higher 2026 Guidance Verizon (NYSE: VZ) shares fell about 3.8% even

Verizon (NYSE: VZ) shares fell about 3.8% even after the company reported strong third-quarter 2026 subscriber growth, record adjusted EBITDA and another increase to...

10-26-26

U.S. 2-Year Treasury Yield Falls at Auction The U.S. Treasury’s latest 2-year note auction cleared at a yield of 4.708%,

The U.S. Treasury’s latest 2-year note auction cleared at a yield of 4.708%, down from 4.787% at the previous auction.

10-26-26

Bitcoin Slips Toward $80,000 as ETF Outflows and Fed Rate Fears Weigh on Crypto Bitcoin traded around $80,265, down roughly

Bitcoin traded around $80,265, down roughly 1.3% over the past five days, as investors pulled money from U.S. spot Bitcoin ETFs and broader risk...

10-26-26

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

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...

10-26-26

German Business Confidence Improves in October as Expectations Strengthen Germany’s Ifo Business Climate Index rose to 90.2 in October, slightly

Germany’s Ifo Business Climate Index rose to 90.2 in October, slightly above the 90.0 consensus estimate and up from 89.9 previously. Business expectations improved...

10-26-26

Rockwell Automation Adds NVIDIA Nemotron Support to FactoryTalk Conductor for Industrial AI Rockwell Automation (NYSE: ROK) announced support for NVIDIA

Rockwell Automation (NYSE: ROK) announced support for NVIDIA Nemotron open models within FactoryTalk Conductor, expanding deployment options for manufacturers adopting AI across industrial engineering...

10-22-26

Adobe Partners With BWT Alpine Formula One Team to Expand AI-Powered Fan Experiences Adobe (NASDAQ: ADBE) announced a global premium

Adobe (NASDAQ: ADBE) announced a global premium partnership with BWT Alpine Formula One Team, becoming the team’s Official AI Fan Experience Partner as the...

10-22-26

Eli Lilly Breaks Ground on $5 Billion Virginia Plant to Expand U.S. Cancer Drug Manufacturing Eli Lilly (NYSE: LLY) broke

Eli Lilly (NYSE: LLY) broke ground on a new $5 billion manufacturing facility in Goochland County near Richmond, Virginia, expanding its U.S. production footprint...

10-22-26

NYSE:VZ

Verizon Falls 3.8% Despite Record Q3 Subscriber Growth and Higher 2026 Guidance

Verizon (NYSE: VZ) shares fell about 3.8% even after the company reported strong third-quarter 2026 subscriber growth, record adjusted EBITDA and another increase to full-year guidance.

Postpaid phone net additions reached 406,000, up more than 820% year over year and marking Verizon’s strongest third-quarter result in five years. The company also added 137,000 postpaid net accounts, its best performance in more than a decade, while broadband net additions totaled 314,000.

Financial performance was also solid. Total revenue increased 1.5% to $34.3 billion, while mobility and broadband service revenue rose 2.9% to $23.5 billion. Adjusted EBITDA climbed 8% to a record $13.8 billion, with adjusted EBITDA margin expanding to 40.2%. Adjusted EPS increased 8.3% to $1.31.

Cash generation remained strong, with operating cash flow of $11.5 billion and free cash flow of $7.8 billion, up 12.1% year over year. Verizon also reduced net unsecured debt to $123.7 billion from $128.7 billion in the prior quarter.

Management raised 2026 guidance for the third consecutive quarter. Verizon now expects 1.1 million to 1.2 million postpaid phone net additions, adjusted EPS of $5.04 to $5.06 and free cash flow growth approaching 12%. The company also expects mobility and broadband service revenue growth of about 4% in the fourth quarter.

Verizon additionally announced a commercial framework worth more than $2 billion with Amazon Web Services to support distributed computing and agentic and generative AI workloads.

The 3.8% decline therefore appears to reflect investor concerns outside the headline operating results, potentially including valuation, the still-heavy debt load and broader pressure on rate-sensitive telecom stocks. The quarter itself showed strong subscriber momentum, expanding margins and improving cash flow.

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Global Finance News 10-26-26

Verizon Stock Gains as Multiple Wall Street Firms Raise Price Targets After Strong Results

Verizon Communications (NYSE: VZ) shares rose more than 2% on Monday after several Wall Street firms raised their price targets following the company's latest earnings report, reinforcing confidence in the telecom giant's improving outlook.

Scotiabank raised its price target to $52.50 from $51.50 while maintaining a Sector Outperform rating. Wells Fargo increased its target to $47 from $43, Barclays lifted its target to $46 from $45, and RBC Capital Markets raised its target to $47 from $46, with all three firms reaffirming their existing ratings.

The series of price target increases reflects growing optimism about Verizon's financial performance and its ability to generate stable earnings and cash flow. Analysts have pointed to improving wireless subscriber trends, disciplined cost management, and strong free cash flow generation as key factors supporting a higher valuation.

Verizon also continues to benefit from resilient demand for premium wireless services and broadband offerings, while its ongoing investments in 5G and fiber infrastructure are expected to support long-term customer growth and profitability.

Although the price target increases were relatively modest, the broad-based support from multiple research firms strengthened investor sentiment. The coordinated target hikes suggest Wall Street remains constructive on Verizon's outlook, helping lift the stock as investors welcomed further confirmation of the company's improving fundamentals.

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European Investor 07-27-26

Verizon reported strong first-quarter 2026 results, showing continued momentum in its transformation strategy and raising its full-year adjusted EPS guidance.

The company posted revenue of $34.4 billion (+2.9% YoY) and net income of $5.1 billion (+3.3%), while adjusted EPS rose 7.6% to $1.28. Verizon also recorded its first positive first-quarter postpaid phone net additions since 2013, alongside solid growth in broadband and prepaid segments.

Driven by improved customer metrics and operational efficiency, Verizon now expects 2026 adjusted EPS growth of 5% to 6% and projects stronger customer additions in the upper range of its outlook.
Globe Newswire

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WS Investor 04-27-26

Verizon Communications announced updated 2026 financial expectations and a major capital return plan following its earnings call on January 30, 2026. The company said changes to its cost structure and market strategy are expected to support long-term investment, continued deleveraging, and up to approximately $55 billion in shareholder returns through the end of 2028 via dividends and share repurchases.

Verizon’s board declared a quarterly dividend of $0.7075 per share, payable on May 1, 2026, representing a 2.5% annualized increase. In addition, the board authorized a new share repurchase program of up to $25 billion, with the company expecting to buy back at least $3 billion of common stock in 2026. The repurchase program may be executed through open-market or private transactions and can be suspended or discontinued at any time.

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Global Finance News 01-30-26

Verizon reported strong fourth-quarter and full-year 2025 results, delivering its highest quarterly mobility and broadband net additions since 2019 and meeting its full-year financial guidance.

In Q4 2025, Verizon added more than 1 million total net subscribers across mobility and broadband, including 616,000 postpaid phone net additions, the best quarterly result since 2019. Full-year 2025 EPS was $4.06, or $4.71 on an adjusted basis, with operating revenue rising to $138.2 billion and free cash flow reaching $20.1 billion. The company also closed its Frontier acquisition in January 2026, expanding fiber access to more than 30 million homes and businesses.

Looking ahead, Verizon guided for a clear acceleration in 2026, expecting 750,000 to 1.0 million postpaid phone net additions, service revenue growth of 2–3%, adjusted EPS of $4.90–$4.95, and free cash flow of at least $21.5 billion, reflecting the early stages of its strategic turnaround.

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Global Finance News 01-30-26

Verizon Communications announced that it completed its acquisition of Frontier Communications Parent, Inc. on January 20, 2026. Under the merger, Frontier became a wholly owned subsidiary of Verizon, and Frontier shareholders received $38.50 in cash per share, with no interest, for each outstanding share not already held by Verizon or its affiliates.

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WS Investor 01-20-26

verizon issues €2.25 billion and £1 billion subordinated notes due 2056

Verizon Communications Inc. (NYSE: VZ) announced the closing of two major debt offerings on November 10, 2025. The company sold €2.25 billion of 3.9962% fixed-to-fixed rate junior subordinated notes and £1 billion of 5.7420% fixed-to-fixed rate junior subordinated notes, both maturing in 2056.

The offerings were made under Verizon’s shelf registration statement filed with the SEC on August 29, 2025. The proceeds are expected to be used for general corporate purposes.

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Global Finance News 11-10-25

Verizon Reports Strong Q3 2025 Earnings, CEO Unveils Plan to Redefine Company’s Future

Verizon Communications (NYSE, Nasdaq: VZ) reported third-quarter 2025 earnings per share of $1.17, up from $0.78 a year earlier, with adjusted EPS rising to $1.21 from $1.19. Net income reached $5.1 billion, compared to $3.4 billion in Q3 2024, while total revenue increased 1.5% year-over-year to $33.8 billion.

Wireless service revenue grew 2.1% to $21.0 billion, and equipment revenue rose 5.2% to $5.6 billion. Verizon generated $28.0 billion in operating cash flow and $15.8 billion in free cash flow during the first nine months of 2025, both higher than last year. The company also reduced its total unsecured debt to $119.7 billion, down from $126.4 billion a year earlier.

CEO Dan Schulman announced a bold transformation plan focused on building a customer-first culture, reshaping Verizon’s cost structure, and improving financial performance. He emphasized that these changes would be “aggressive, not incremental,” aiming to return Verizon to growth. The company also raised its dividend for the 19th consecutive year and reaffirmed its full-year financial guidance.

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The Investor 10-29-25

Dividend Growth Stocks: Verizon Communications Inc. (VZ) Dividend Stock Analysis

Your source for finding the best dividend growth stocks

(dividend-growth-stocks.com)

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Global Finance News 09-02-25

Verizon launched two coordinated transactions to repurchase 10 series of outstanding notes: exchange offers for qualified investors and cash offers for others. The exchange involves issuing new 2037 notes with a 5.401% coupon, capped at $2.5 billion, while the cash offers are limited to $300 million. Acceptance follows a priority-based waterfall system. Both offers expire on June 18, 2025, and include additional cash payments for accrued interest. Completion of each offer is conditional on the success of its counterpart.

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ME NEWS 06-19-25

10-26-26Global Finance News

09-14-26WS Investor

09-03-26WS News

07-24-26WS News

NASDAQ:RKLB

Rocket Lab has funded Iridium’s purchase, not its return | Noah Intelligence

The $1.944bn equity raise and retained $1.775bn term loan remove the bridge deadline. Investors still need a cash bridge from Iridium’s earnings to debt service, investment and returns.

(noah-news.com)

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The Investor 09-17-26

Rocket Lab Stock Falls 7.7% After Hours Despite Record Q2 Revenue and Backlog

Rocket Lab (NASDAQ: RKLB) shares fell about 7.7% in after-hours trading after the space company reported record second-quarter 2026 revenue and backlog and guided for another record revenue quarter.

The decline suggests investors are focusing less on the strong top-line growth and more on continued losses, elevated spending and execution risks surrounding Rocket Lab’s aggressive expansion strategy.

Revenue Jumps 62% as Backlog Hits Record

Rocket Lab reported record Q2 revenue of $234 million, up 62% year-over-year and $34 million above the previous quarter’s record.

Backlog climbed 137% from a year earlier to a record $2.36 billion. The company also said Q2 and subsequent activity brought in more than $1 billion in new contracts across launch and space systems entering the third quarter.

Launch demand remained particularly strong. Rocket Lab secured more than $437 million in new contracts across Electron, HASTE and Neutron, bringing its launch backlog to more than 90 missions.

The company is also progressing with Neutron, its reusable medium-lift rocket. Production of the first Stage 1 tank remains aligned with Rocket Lab's target of delivering Neutron to the launch pad in the fourth quarter of 2026.

Q3 Revenue Set for Another Record, but Losses Continue

For the third quarter, Rocket Lab expects revenue of $250 million to $265 million, which would establish another quarterly record.

However, profitability remains a key issue. The company expects an adjusted EBITDA loss of $17 million to $23 million, while GAAP operating expenses are projected at $143 million to $149 million.

That continued spending burden may be contributing to the negative after-hours reaction despite the strong revenue trajectory.

Expansion Strategy Adds Opportunity — and Risk

Rocket Lab has also significantly expanded its ambitions beyond launch services. The company completed its acquisitions of Mynaric and Motiv and recently announced an agreement to acquire Iridium Communications, aiming to create a vertically integrated space company capable of designing, manufacturing, launching and operating satellite constellations.

Rocket Lab is simultaneously expanding its U.S. defense exposure, including major contracts involving spacecraft for the U.S. Space Force.

The strategy substantially increases Rocket Lab's addressable market, but it also raises integration, capital requirements and execution risks at a time when the company is still operating at a loss.

The roughly 7.7% after-hours decline therefore appears to reflect a high expectations bar rather than weak headline results. Record revenue, rapidly expanding backlog and strong Q3 guidance demonstrate considerable operating momentum, but investors appear to be weighing those gains against continued losses and the financial and execution demands of Rocket Lab's increasingly ambitious expansion.

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Global Finance News 08-11-26

Rocket Lab Stock Jumps 8% as Company Announces Transformational $8 Billion Acquisition of Iridium

Rocket Lab (NASDAQ: RKLB) shares climbed about 8% on Monday after the company announced a definitive agreement to acquire satellite communications provider Iridium Communications (NASDAQ: IRDM) in a cash-and-stock transaction valued at approximately $8.0 billion. Iridium shares surged roughly 21% following the announcement as the deal offered shareholders a significant premium.

Under the agreement, Rocket Lab will acquire all outstanding Iridium shares for $54 per share through a combination of cash and Rocket Lab stock. The transaction will create one of the space industry's most vertically integrated companies by combining Rocket Lab's launch services, spacecraft manufacturing, and space systems capabilities with Iridium's global low-Earth orbit satellite network, L-band spectrum, and communications business.

The acquisition gives Rocket Lab an immediate entry into high-margin satellite communications and recurring service revenue, expanding its business beyond launch and spacecraft production. The combined company is expected to accelerate development of next-generation satellite services, including direct-to-device communications, Internet of Things (IoT), positioning, navigation, and timing (PNT), and national security applications.

Investors welcomed the deal as a strategic milestone that significantly broadens Rocket Lab's addressable market while adding a profitable, cash-generating business. Iridium generated approximately $871.7 million in revenue during 2025 with strong operating profitability, providing Rocket Lab with recurring cash flows to support future growth initiatives.

The transaction is expected to close in mid-2027, subject to shareholder and regulatory approvals. The announcement fueled strong buying interest in both companies, with Rocket Lab gaining around 8% and Iridium soaring approximately 21% during Monday's trading session.

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European Investor 06-29-26

Rocket Lab Shares Jump After KeyBanc Upgrades Stock to Overweight

Rocket Lab (NASDAQ: RKLB) shares climbed 5.7% in premarket trading after KeyBanc upgraded the stock from "Sector Weight" to "Overweight" and established a $135 price target, reflecting growing confidence in the company's position within the rapidly expanding space industry.

The upgrade highlights increasing optimism surrounding Rocket Lab's ability to capitalize on rising demand for satellite launches, space infrastructure, and defense-related space programs. Investors have become increasingly bullish on companies positioned to benefit from growing government and commercial spending in the space sector.

Rocket Lab has evolved beyond its launch business, building a diversified portfolio that includes spacecraft components, satellite systems, and space services. This broader strategy has helped reduce reliance on launch revenue alone while creating multiple avenues for long-term growth.

Analysts are also closely watching the development of Rocket Lab's larger Neutron rocket, which is expected to significantly expand the company's addressable market and strengthen its ability to compete for larger government and commercial contracts. Success in the medium-lift launch market could represent a major growth catalyst over the coming years.

The upgrade comes amid strong investor interest in space and defense-related stocks, fueled by increasing global security spending, rising satellite deployment activity, and growing demand for space-based communications and intelligence capabilities.

Rocket Lab has emerged as one of the leading publicly traded pure-play space companies, with investors increasingly viewing it as a key beneficiary of the long-term expansion of the commercial space economy.

The 5.7% premarket gain suggests investors welcomed KeyBanc's more bullish outlook, with the new Overweight rating reinforcing expectations that Rocket Lab can continue delivering strong growth as launch activity, defense opportunities, and space infrastructure investments accelerate.

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The Investor 06-15-26

Rocket Lab Surges 7.5% Pre-Market as Record Quarter and Golden Dome Selection Energize Investors

Long Beach, May 8, 2026 — Shares in Rocket Lab Corporation jumped 7.5% in pre-market trading on Thursday after the space launch and systems company reported a first quarter that broke records on virtually every key metric and delivered a string of strategic wins that signal the company is moving decisively beyond its small satellite launch origins into the heart of U.S. national security space programs.

Revenue hit $200.3 million for the first time in the company's history, up 63.5% year-over-year and surpassing guidance. GAAP gross margin reached a record 38.2%, demonstrating meaningful operating leverage as the business scales. Backlog surged to $2.2 billion, up 20.2% sequentially, and the company disclosed it has now sold more launches in Q1 2026 alone than in the entirety of 2025 — a staggering statement of demand momentum. Total contracted missions now exceed 70. Access to more than $2 billion in total liquidity, following a completed at-the-market offering, provides ample runway for continued M&A and organic growth.

The strategic headlines were equally significant. Rocket Lab was selected to directly support the Department of War's Space Based Interceptor program — a critical component of President Trump's Golden Dome for America missile defense initiative — in partnership with Raytheon. The selection leverages both Rocket Lab's launch and satellite capabilities, embedding the company in what management described as potentially the U.S. government's most important national security program. For a company of Rocket Lab's size, that kind of program association carries enormous long-term revenue implications.

The quarter also saw the completed acquisition of Mynaric, establishing Rocket Lab's first European footprint, and a signed agreement to acquire Motiv Space Systems for Mars-proven robotics and solar array drive assemblies — closing a key gap in the company's vertical integration strategy. Neutron, the medium-lift reusable rocket, continues to advance toward its debut launch later this year.

Q2 guidance of $225 to $240 million in revenue, implying continued sequential growth, rounded out a report that gave investors little to criticize.

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Global Finance News 05-08-26

Rocket Lab USA, Inc. Announces ATM Equity Offering Sales Agreement for Up to $500 Million
Long Beach, CA – March 11, 2025 – Rocket Lab USA, Inc. (Nasdaq: RKLB) announced today that it has entered into an At-The-Market (ATM) Equity Offering Sales Agreement with BofA Securities, Cantor Fitzgerald, Stifel, and TD Securities (USA) LLC (collectively, the “Sales Agents”). Under this agreement, Rocket Lab may offer and sell up to $500 million in common stock through the Sales Agents.

Key Details of the Offering:
The offering will be conducted under a shelf registration statement on Form S-3, which was filed and became effective on March 11, 2025.
Shares may be sold at Rocket Lab’s discretion, with the Sales Agents acting as agents or principals.
The Sales Agents will use commercially reasonable efforts to sell shares, following Rocket Lab’s specified parameters such as price, timing, and volume.
No obligation exists for Rocket Lab to sell any shares under this agreement.
The Sales Agreement may be terminated by either party at any time upon written notice.
Strategic Purpose & Market Impact
Rocket Lab intends to leverage this offering to support growth initiatives, research & development, and operational expansion. The company continues to solidify its position in the commercial space sector, particularly in satellite launch services and spacecraft manufacturing.

The company has filed a prospectus supplement related to this offering with the U.S.

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ME NEWS 03-12-25

10-26-26Global Finance News

10-20-26WS News

09-11-26WS News

Germany

German Business Confidence Improves in October as Expectations Strengthen

Germany’s Ifo Business Climate Index rose to 90.2 in October, slightly above the 90.0 consensus estimate and up from 89.9 previously.

Business expectations improved more clearly, climbing to 91.6 from 90.4 and beating the 90.0 forecast. The increase suggests German companies have become somewhat more optimistic about the months ahead.

However, the Current Assessment index fell to 88.8 from 89.5, missing expectations of 89.9. That indicates businesses still see present economic conditions as relatively weak.

Overall, the report sends a mixed but mildly positive signal: current conditions deteriorated, but stronger expectations lifted the headline business climate index. The data suggest sentiment toward Germany’s future outlook is improving even though near-term activity remains soft.

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WS News 10-26-26

Eurozone ZEW Economic Sentiment Falls More Than Expected in October

Eurozone investor sentiment weakened in October, with the ZEW Economic Sentiment index falling to 18.5 from 25.8 previously.

The reading came in well below the 23.6 consensus estimate, signaling a more cautious outlook among financial-market experts.

The decline suggests that expectations for the euro-area economy have deteriorated despite some improvement in current conditions in Germany.

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WS News 10-20-26

German Producer Prices Accelerate as ZEW Signals Mixed Economic Outlook

German producer prices rose 1.9% month over month in September, exceeding the 1.5% consensus estimate and accelerating from a 1.1% increase previously.

The stronger-than-expected PPI reading points to renewed upstream price pressure, which could complicate the inflation outlook if higher producer costs begin feeding through to consumer prices.

Meanwhile, Germany’s ZEW Current Conditions index improved sharply to -35.9 in October from -47.1, substantially better than the -45.0 consensus estimate. Although the index remained negative, the improvement suggests respondents viewed the present economic environment as less weak than previously.

In contrast, ZEW Economic Sentiment fell to 28.1 from 34.7 and missed the 30.2 forecast, indicating that expectations for the months ahead have softened.

Overall, the data present a mixed picture: current conditions improved more than expected, but forward-looking sentiment weakened, while stronger producer-price growth adds a more inflationary element to the outlook.

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WS News 10-20-26

Eurozone Industrial Production Falls 0.5% in August, Missing Expectations

Eurozone industrial production declined 0.5% month over month in August, weaker than expectations for no change.

The result also marked a further deterioration from the previous month’s 0.3% decline, pointing to continued softness in the region’s manufacturing and industrial sectors.

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WS News 10-15-26

German Inflation Accelerates to 3.3% in September

Germany’s consumer price index rose 0.6% month over month in September, matching market expectations and accelerating from a 0.2% increase in August.

On an annual basis, inflation climbed to 3.3%, also in line with forecasts but up from 2.9% in the previous month.

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The Investor 10-13-26

German Trade Surplus Narrows in August but Beats Expectations

Germany’s trade surplus came in at €19.5 billion in August, above the €19.0 billion market consensus but down from €21.6 billion previously.

The smaller surplus indicates that the gap between exports and imports narrowed during the month, although the result was slightly better than economists had expected.

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The Investor 10-08-26

German Industrial Production Rebounds 2.0% in August

German industrial production rose 2.0% month over month in August, significantly beating expectations for a 0.5% increase and reversing the previous month’s 1.2% decline.

The stronger-than-expected rebound suggests that activity in Germany’s industrial sector improved more sharply than anticipated during the month.

The data provides a modestly positive signal for Europe’s largest economy, although the broader manufacturing outlook remains mixed following recent weakness in factory orders and external demand.

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European Investor 10-07-26

German factory orders fell 10.6% month over month in August, sharply missing expectations for a 0.9% decline and reversing a 3.2% increase in the previous month.

The steep drop points to renewed weakness in Germany’s manufacturing sector and suggests demand conditions remain fragile.

The weaker-than-expected reading may add to concerns over the outlook for Europe’s largest economy, particularly as manufacturers continue to face soft external demand and elevated financing costs.

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Global Finance News 10-06-26

Eurozone Services Activity Strengthens in September, Led by Spain

Eurozone services activity improved in September, with the HCOB Services PMI rising to 53.0 from 51.6, matching expectations and signaling a firmer pace of expansion across the region.

Spain remained the standout performer. Its services PMI climbed to 58.3 from 57.8, beating the 57.1 consensus and pointing to strong growth in the sector.

Germany’s services PMI improved sharply to 52.9 from 49.7, moving back into expansion and matching expectations. France also returned to growth, with its services PMI rising to 51.2 from 48.0, although the reading came in slightly below the 51.4 forecast.

Italy was the main weak spot. Its services PMI fell to 51.7 from 55.2, well below expectations of 54.6, though it still remained above the 50 threshold.

The Eurozone Composite PMI increased to 53.1 from 52.0, confirming broader improvement in overall business activity. Taken together, the data point to stronger regional momentum heading into the fourth quarter, with Spain and Germany providing the clearest support.

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European Investor 10-05-26

Eurozone Inflation Accelerates to 3.8% in September, Slightly Above Expectations

Eurozone inflation accelerated in September, with headline CPI rising 3.8% year over year, above the 3.7% market consensus and up sharply from 3.2% in August.

Core inflation also edged higher, reaching 2.5% from 2.4% previously, in line with expectations. On a monthly basis, consumer prices increased 0.6%, accelerating from a 0.4% rise in August.

The data suggest that inflation pressures in the euro area strengthened heading into the fourth quarter, with both headline and core measures moving higher.

For markets, the stronger inflation backdrop is relatively hawkish for the European Central Bank. The figures could reduce expectations for near-term policy easing and support higher euro-area bond yields, while potentially offering some support to the euro.

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WS News 10-02-26

09-04-26WS Investor

01-27-26European Investor

11-21-25WS News

07-25-25WS Investor

07-21-25WS News

US Funds

Nasdaq Slides as Chip Sell-Off Accelerates, Dragging Semiconductor ETFs and AI Leaders Lower

The Nasdaq came under heavy selling pressure on Thursday after a relatively resilient start to the session, with semiconductor stocks leading a broad technology retreat. While the Dow Jones remained in positive territory, the Nasdaq fell more than 1.4% as investors aggressively sold chipmakers following their exceptional first-half rally.

The weakness was widespread across the semiconductor industry. Micron Technology (MU) dropped more than 7%, while SanDisk (SNDK) plunged over 15%, extending a sharp pullback that began after both companies posted massive year-to-date gains. Other major chip names, including Nvidia (NVDA), Advanced Micro Devices (AMD), Broadcom (AVGO) and Western Digital (WDC) also traded lower as investors continued rotating out of AI infrastructure stocks.

The sell-off was equally visible in sector exchange-traded funds. The iShares Semiconductor ETF (SOXX) fell roughly 7%, while the VanEck Semiconductor ETF (SMH) lost nearly 6%, highlighting broad-based weakness rather than company-specific concerns. The decline suggests investors are taking profits across the semiconductor sector after one of its strongest first-half performances on record.

Analysts point to a combination of factors behind the retreat, including profit-taking after extraordinary gains, concerns that AI-related chip valuations had become stretched, and signs that investors are rotating toward other parts of the technology sector. Recent reports suggesting cloud providers could optimize AI infrastructure spending have also fueled concerns that the pace of semiconductor demand growth may moderate, even as the long-term AI investment theme remains intact.

Despite Thursday’s sharp decline, many Wall Street analysts continue to view the move as a healthy correction rather than a change in the industry’s long-term outlook, arguing that AI-driven demand for advanced chips and memory products remains robust over the coming years.

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WS News 07-02-26

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The Investor 03-11-26

State Street Investment Management launched the State Street IG Public & Private ABS ETF (PRAB), an actively managed exchange-traded fund designed to give investors broader exposure to investment-grade asset-backed securities across both public and private markets.

The fund invests in securities such as collateralized loan obligations (CLOs) and residential and commercial mortgage-backed securities, aiming to provide diversified income opportunities and potentially higher yields compared with corporate bonds of similar risk.

State Street said the ETF responds to growing investor demand for access to the global asset-backed finance market, which exceeds $20 trillion but remains underrepresented in traditional bond portfolios.
Business Wire

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The Investor 03-11-26

State Street Investment Management has expanded its MyIncome ETF lineup with the launch of five actively managed high yield corporate bond target maturity ETFs, adding to what it calls the industry’s first actively managed corporate target maturity ETF suite.

The new funds — My2027 (MYHA), My2028 (MYHB), My2029 (MYHC), My2030 (MYHD) and My2031 (MYHE) High Yield Corporate Bond ETFs — provide exposure to high yield bonds with matching maturity years from 2027 through 2031. The ETFs are designed to help investors build bond ladders that manage interest rate risk while offering predictable income and liquidity.

Managed by the firm’s fixed income team, the funds aim to maximize yield while preserving capital and managing liquidity, sector and issuer concentration risks. Each ETF is structured to distribute remaining principal and liquidate around December 15 of its respective maturity year. As of January 31, 2026, assets under management in the MyIncome suite totaled $298 million.

Source:Business Wire

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Global Finance News 02-28-26

Sector Momentum Favors Defense; QQQ Yet To Break; Split NDX Breadth

The stock market is clearly in defensive mode but QQQ is still holding up, and its long-term breadth still hasn't turned bearish. Arthur Hill's analysis identifies the key levels to watch.

(articles.stockcharts.com)

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The Investor 02-20-26

State Street Investment Management has launched the **State Street Prime Money Market ETF (MMK)**, an actively managed ETF designed to provide flexible, transparent, and cost-effective cash management.

The ETF aims to maximize current income while preserving capital and liquidity, investing in short-term, high-quality debt instruments such as U.S. government securities, certificates of deposit, commercial paper, asset-backed securities, mortgage-related securities, and repurchase agreements.

With an expense ratio of **18 basis points**, MMK is among the lowest-cost active prime money market ETFs in the U.S. As of December 31, 2025, State Street’s cash team managed approximately **$599.55 billion** in assets.

Source: Business Wire.

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European Investor 02-12-26

VantagePoint A.I. Asset of the Week iShares Silver Trust ($SLV) - VantagePoint $SLV

This week's ai asset spotlight is the iShares Silver Trust ($SLV) On December 3, 2025, we put $SLV front and center as our Asset of the Week and made one thing crystal clear: silver was no

(vantagepointsoftware.com)

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WS Investor 01-15-26

I collected my first dividend from the FDVV ETF this week. It was not much—just $12—but it felt good to see the portfolio start to generate cash. Over time, I expect these payments to grow.

I am also spending time researching QQQI. It is a relatively new ETF and clearly carries more risk, especially since it focuses on large technology companies that may be somewhat overvalued right now. Still, I plan to allocate a small portion of my portfolio to it. The annual yield of around 13% is attractive, and I believe the tech and AI rally is likely to continue for at least another couple of years. If that plays out, QQQI could contribute meaningfully to overall returns.

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A Dividend Journey 12-26-25

Blackrock multi asset income monthly commentary ...

(blackrock.com)

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The Investor 12-21-25

State Street launches lowest-cost leveraged loan ETF in the U.S.

State Street Investment Management introduced the State Street SPDR S&P Leveraged Loan ETF (LVLN), giving investors broad, index-based exposure to the expanding leveraged loan market. With a 0.40 percent gross expense ratio, LVLN is now the lowest-cost leveraged loan ETF available in the U.S., according to Bloomberg data as of November 18, 2025.

The fund tracks the S&P USD Select Leveraged Loan Index, which includes U.S. dollar–denominated loans of at least 500 million dollars and applies issuer, facility and industry caps for diversified coverage. State Street says demand for leveraged loans continues to grow as investors seek income and low correlation to Treasuries and investment-grade corporate bonds.

The launch expands State Street’s fixed-income ETF lineup to include both active and index strategies targeting the rapidly growing loan segment.

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The Investor 11-18-25

10-26-26Global Finance News

10-20-26WS News

10-06-26The Investor

10-02-26WS News

09-28-26European Investor

NASDAQ:ARLP

Alliance Resource Partners Rises 2% as Q3 Earnings, Coal Volumes and Royalty Revenue Strengthen

Alliance Resource Partners (NASDAQ: ARLP) shares rose about 2% after the company reported stronger third-quarter 2026 earnings, improved coal operating costs and record oil and gas royalty revenue.

Revenue increased 5.5% year over year to $603.0 million, while net income attributable to ARLP jumped 46.8% to $139.6 million. Adjusted EBITDA attributable to ARLP rose 26.3% to $233.9 million, supported by stronger coal operations, contributions from the AllDale III & IV acquisition and higher equity-method investment income.

Coal operations improved meaningfully during the quarter. Segment Adjusted EBITDA rose 23.1% sequentially to $186.8 million, while Adjusted EBITDA expense per ton sold declined 13.1% year over year. The company also added 4.2 million committed and priced tons through 2028 and now has 31.7 million tons contracted for 2027.

Oil and gas royalties were another major growth driver. Segment Adjusted EBITDA attributable to ARLP reached $43.6 million, up 61.4% year over year, helped by $223.5 million of acquisitions completed during the quarter.

Cash generation remained solid, with distributable cash flow of $136.8 million and a distribution coverage ratio of 1.76x. ARLP declared a quarterly cash distribution of $0.60 per unit, equivalent to $2.40 annualized.

The 2% gain appears to reflect the combination of stronger earnings, lower coal costs, growing contracted volumes and an expanding royalty business. Management also said elevated crude prices could support another record quarter for oil and gas royalties, while expecting 2027 results to compare favorably with 2026.

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Global Finance News 10-26-26

Alliance Resource Partners Stock Rises 3% After Strong Q2 Earnings and Higher 2026 Guidance

Alliance Resource Partners (NASDAQ: ARLP) shares rose about 3% on Monday after the company reported stronger second-quarter earnings, record oil and gas royalty revenue, and improved cash flow metrics while updating its 2026 guidance.

ARLP reported second-quarter revenue of $551.6 million, up 0.7% year over year. Net income increased 33.9% to $79.6 million, or $0.61 per unit, while adjusted EBITDA rose 14.7% to $185.7 million.

The improvement was supported by higher coal sales volumes, record oil and gas royalty revenue, increased investment income, and the absence of a $25 million impairment charge recorded in the prior-year quarter. Coal sales volumes reached 8.6 million tons, up 8.9% sequentially, although average coal pricing declined 2.7%.

The company’s Oil & Gas Royalties segment was a major contributor to the quarter. Royalty revenue reached a record $46.3 million, up 30.5% from a year earlier, while segment adjusted EBITDA totaled $38 million. Management attributed the growth largely to stronger realized commodity prices.

Alliance also highlighted improved cash generation. Distributable cash flow reached $108.2 million, while the distribution coverage ratio increased to 1.39 times. Both measures improved 39% from the previous quarter.

The company declared a quarterly cash distribution of $0.60 per unit, equivalent to an annualized rate of $2.40. It also secured an additional 21.2 million tons of committed and priced coal sales covering deliveries from 2026 through 2031, strengthening longer-term revenue visibility.

Following the quarter, ARLP completed its $206.2 million acquisition of oil and gas mineral interests, adding approximately 48,500 net royalty acres. The transaction expands the company’s exposure to several U.S. energy basins, including the Permian and Haynesville, and is expected to be immediately accretive to free cash flow per unit.

Management said stronger productivity, lower costs and the return of the Hamilton mine to longwall production should support higher production and cash flow during the second half of 2026. The combination of rising earnings, stronger distribution coverage, record royalty revenue and improved guidance appears to have driven the positive reaction in ARLP shares.

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European Investor 07-27-26

NASDAQ:MSFT

Microsoft, Marvell and Utimaco Launch Cloud-Scale Payment Security Platform

Microsoft, Marvell Technology and Utimaco introduced Azure Payment HSM v2, a new cloud-native payment security platform designed for banks, payment processors and other financial institutions operating regulated payment workloads.

The service combines Marvell’s LiquidSecurity hardware security modules, Utimaco’s Atalla Payments Module software and Microsoft Azure into a fully managed offering. It is designed to help customers secure payment transactions, protect cryptographic keys and meet PCI security, audit and compliance requirements without deploying or managing their own physical HSM infrastructure.

The platform targets growing demand for scalable payment infrastructure as transaction volumes, fraud risks and regulatory requirements increase. Marvell provides the cloud-scale hardware security layer, Utimaco supplies payment-focused cryptographic software, and Azure delivers the solution as a managed cloud service.

Azure Payment HSM v2 is available in public preview beginning September 17 in the Western U.S. and Western Europe.

For Marvell, the partnership broadens the use of its security hardware beyond traditional data-center infrastructure and into cloud-based financial services, an area where demand for secure, high-throughput payment processing continues to expand.

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The Investor 09-17-26

Microsoft Corp. on Tuesday announced that its board of directors declared a quarterly dividend of $0.98 per share, reflecting a 7 cent or 8% increase over the previous quarter’s dividend. The dividend is payable Dec. 10, 2026, to shareholders of record on Nov. 19, 2026. The ex-dividend date will be Nov. 19, 2026.

The Board of Directors of JPMorgan Chase & Co. (NYSE: JPM) declared a quarterly dividend of $1.65 per share on the outstanding shares of the common stock of JPMorganChase, an increase from the prior quarterly dividend of $1.50 per share. The dividend is payable on October 31, 2026, to stockholders of record at the close of business on October 6, 2026.

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WS Investor 09-16-26

Microsoft Stock Jumps 8.3% as Azure and AI Growth Power Strong Q4 Earnings

Microsoft shares surged 8.3% in premarket trading on Thursday after the company reported stronger-than-expected fiscal fourth-quarter results, driven by accelerating Azure growth and continued demand for artificial intelligence products.

Revenue rose 18% year-over-year to $90.0 billion, while operating income increased 18% to $40.6 billion. GAAP net income climbed 31% to $35.8 billion, and diluted earnings per share increased 32% to $4.81. On a non-GAAP basis, Microsoft earned $4.74 per share, up 23%.

## Azure Growth Accelerates

The strongest part of the report came from Microsoft’s cloud operations. Microsoft Cloud revenue increased 27% to $59.3 billion, while Intelligent Cloud revenue rose 32% to $39.3 billion.

Azure and other cloud services revenue jumped 43%, highlighting continued demand for cloud infrastructure and AI computing capacity. Microsoft also said annual Azure revenue surpassed $100 billion for the first time.

Commercial remaining performance obligations surged 84% to $678 billion, providing investors with greater visibility into future contracted revenue.

AI adoption also continued to expand. Microsoft 365 Copilot reached more than 30 million paid seats, strengthening the company’s position as one of the leading beneficiaries of enterprise AI spending.

## Consumer and Gaming Businesses Remain Weak

Growth was less consistent across Microsoft’s consumer businesses. More Personal Computing revenue declined 4% to $12.9 billion, as Windows OEM and Devices revenue fell 7% and Xbox content and services revenue dropped 10%.

However, investors largely overlooked those declines as the performance of Azure, Microsoft Cloud and AI-related products reinforced confidence in the company’s long-term growth outlook.

Microsoft returned $10.2 billion to shareholders through dividends and share repurchases during the quarter.

## What to Watch

The sharp premarket gain reflects strong investor confidence in Microsoft’s ability to convert heavy AI investment into revenue growth. Attention will now turn to management’s fiscal 2027 guidance, capital expenditure plans and comments on whether Azure growth can remain above 40% as demand for AI infrastructure continues to rise.

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European Investor 07-30-26

Microsoft Receives Fresh Wall Street Support as Analysts Reaffirm Bullish Ratings

Microsoft (MSFT) received another vote of confidence from Wall Street as both Cantor Fitzgerald and TD Cowen reiterated positive ratings on the stock, maintaining Overweight and Buy recommendations, respectively.

The analyst updates come despite Microsoft's shares trading roughly 15% below their highs reached last year. With price targets of $502 and $540, both firms continue to see substantial upside from the current share price near $427, reflecting confidence in the company's long-term growth trajectory.

Analysts remain particularly optimistic about Microsoft's leadership in artificial intelligence, cloud computing, and enterprise software. The company continues to benefit from strong demand for Azure cloud services, expanding adoption of AI-powered Copilot products, and its strategic partnership with OpenAI.

While some technology stocks have recently faced profit-taking pressure, Microsoft's diversified business model and strong cash generation continue to make it one of Wall Street's favorite large-cap technology names. The reaffirmed ratings suggest analysts believe the recent pullback from previous highs has not altered the company's long-term investment case.

With AI investment continuing to accelerate across industries, analysts expect Microsoft to remain one of the primary beneficiaries of the ongoing digital transformation and artificial intelligence spending cycle. The latest rating reiterations reinforce the view that Wall Street remains highly confident in Microsoft's ability to deliver sustained earnings growth in the years ahead.

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WS Investor 06-04-26

Microsoft Reports 17% Revenue Growth in Fiscal Q2 2026, Cloud Tops $50 Billion

Microsoft posted revenues of $81.3 billion for its fiscal second quarter ended December 31, 2025, up 17% year over year. Operating income rose 21% to $38.3 billion, while GAAP net income jumped 60% to $38.5 billion, partly reflecting gains from its OpenAI investment. On a non-GAAP basis, net income grew 23% to $30.9 billion. Diluted EPS came in at $5.16 on a GAAP basis. Microsoft Cloud revenue crossed $50 billion for the quarter, underscoring strong demand across the company's portfolio. CEO Satya Nadella noted that Microsoft's AI business has already grown larger than some of its most established franchises.

Source: Microsoft Corp. Earnings Release, January 28, 2026

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Global Finance News 04-29-26

Microsoft Corp. on Tuesday announced that its board of directors declared a quarterly dividend of $0.91 per share. The dividend is payable June 11, 2026, to shareholders of record on May 21, 2026.

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The Investor 03-11-26

Tech stocks today: Nvidia stock rises as guidance signals AI boom alive and well

All eyes are on Nvidia's fourth quarter results, due after the closing bell on Wednesday, as AI concerns continue to grip markets.

(finance.yahoo.com)

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WS News 02-26-26

CrowdStrike (NASDAQ: CRWD) and Microsoft (NASDAQ: MSFT) have expanded their strategic alliance to make the CrowdStrike Falcon platform available on Microsoft Marketplace, allowing customers to purchase it using their existing Microsoft Azure Consumption Commitment funds.

The move enables organizations to apply pre-committed Azure cloud spending toward Falcon’s AI-native cybersecurity platform, simplifying procurement, consolidating billing, and accelerating deployment across endpoints, cloud workloads, identity, AI, and data environments.

By aligning security purchases with cloud budgets, the partnership reduces procurement friction and helps customers optimize cloud spend while strengthening security posture. Industry analysts note that transacting Falcon through Azure Marketplace can accelerate deal velocity and streamline the path from agreement to deployment.

The Falcon platform is immediately available via Microsoft Marketplace with full Azure Consumption Commitment eligibility.

Source: Business Wire

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Global Finance News 02-18-26

Azure vs AWS vs Google Cloud: Who Wins the AI Race in 2026?

Uncover insights on Azure vs AWS vs Google Cloud: Who Wins the AI Race in 2026? Discover the leaders in AI technology.

(thesmartinvestor.com.sg)

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European Investor 02-12-26

AI Boom or Bust? Here are 4 Telltale Signs

Is it AI Boom or Bust? Uncover the 4 telltale signs that differentiate real AI success from mere marketing speak.

(thesmartinvestor.com.sg)

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The Investor 02-08-26

10-26-26Global Finance News

10-15-26The Investor

10-13-26The Investor

10-02-26WS News

10-01-26European Investor

NYSE:VRT

Vertiv Stock Gains Despite KeyBanc Price Target Cut

Vertiv (NYSE: VRT) shares rose 2.8% on Thursday despite KeyBanc Capital Markets lowering its price target on the company, as the firm maintained its Overweight rating and continued to express confidence in Vertiv's long-term growth outlook.

KeyBanc analyst David Tarantino reduced the firm's price target to $325 from $360 while reiterating an Overweight rating. Although the lower target reflects a more conservative valuation, the maintained bullish rating suggests the firm continues to see meaningful upside in the stock.

Investor sentiment toward Vertiv remains supported by robust demand for AI infrastructure and data center power and cooling equipment. As hyperscale cloud providers continue expanding AI capacity, spending on critical digital infrastructure has remained a major tailwind for companies supplying thermal management, power distribution and backup power systems.

The modest reduction in the price target appears to reflect valuation adjustments following the stock's strong performance rather than a deterioration in Vertiv's underlying business fundamentals. The company remains one of the key beneficiaries of the ongoing global AI infrastructure buildout.

What to Watch

Investors will closely monitor Vertiv's upcoming earnings report for updates on order growth, backlog, margins and customer demand from hyperscale data center operators. Management's commentary on AI-related infrastructure spending, capacity expansion and future revenue guidance will remain key catalysts for the stock.

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WS Investor 07-30-26

Vertiv Stock Falls 13% Despite Strong Earnings and Higher Guidance as Investors Take Profits

Vertiv (NYSE: VRT) shares fell 13% on Wednesday despite reporting another quarter of exceptional growth and raising its full-year guidance across all major financial metrics, suggesting investors were taking profits after the stock's significant rally and exceptionally high expectations surrounding AI infrastructure.

The critical digital infrastructure provider reported second-quarter net sales of $3.27 billion, up 24% year over year, including 18% organic growth. Diluted EPS increased 53% to $1.27, while adjusted EPS surged 60% to $1.52. Profitability also improved significantly, with adjusted operating margin expanding 410 basis points to 22.6%, reflecting strong execution, productivity gains, and favorable pricing.

Cash generation remained a standout. Operating cash flow climbed to $1.1 billion, while adjusted free cash flow jumped 234% to $925 million. Vertiv also exited the quarter with a net cash position and $5.6 billion of liquidity, providing ample flexibility to continue investing in growth.

Management struck an optimistic tone, citing continued acceleration in AI and data center demand. The company said increasingly complex AI deployments are driving greater demand for power and thermal management infrastructure, while customer pipelines continue to strengthen globally.

Reflecting this confidence, Vertiv raised its full-year 2026 guidance. The company now expects revenue of $13.8 billion to $14.2 billion, adjusted EPS of $6.65 to $6.75, and adjusted free cash flow of $2.4 billion to $2.6 billion. Third-quarter guidance was also strong, calling for revenue of $3.65 billion to $3.85 billion and adjusted EPS of $1.77 to $1.83.

Despite the impressive results and higher outlook, investors appeared to focus on valuation after Vertiv's remarkable run over the past year. With expectations already extremely elevated for AI infrastructure companies, another strong quarter and guidance increase may have been largely priced into the shares, prompting profit-taking following the earnings release.

The sharp decline therefore appears to reflect investor positioning rather than any deterioration in Vertiv's fundamentals. The company continues to benefit from one of the strongest demand environments in the AI infrastructure market, with expanding margins, record cash generation, and increasing confidence in sustained long-term growth.

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The Investor 07-29-26

Vertiv said AI-driven demands are reshaping data center design and operations, citing trends such as extreme densification, gigawatt-scale buildouts, wider use of digital twins, higher-voltage DC power architectures, and adaptive liquid cooling. In its Vertiv Frontiers report, the company highlighted that digital twins will play a key role in faster, large-scale AI data center deployment, while on-site energy generation and advanced liquid cooling are becoming critical as power densities rise.

Source: Vertiv press release, PR Newswire

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WS Investor 01-08-26

Vertiv Completes $1 Billion Acquisition of PurgeRite to Expand Liquid Cooling Capabilities

Vertiv Holdings (NYSE: VRT) has finalized its approximately $1.0 billion acquisition of PurgeRite, a leading provider of mechanical flushing, purging and filtration services for data centers. The deal strengthens Vertiv’s position in thermal management solutions for high-density computing and AI-driven workloads, where liquid cooling is increasingly essential.

PurgeRite, based in Houston, brings specialized expertise in fluid management, including proprietary technologies and strong relationships with hyperscale and Tier 1 colocation operators. Its capabilities will be integrated into Vertiv’s liquid cooling portfolio, enhancing system performance, improving heat transfer efficiency, and reducing operational downtime risks.

Vertiv CEO Gio Albertazzi said the acquisition deepens the company’s fluid management services and supports end-to-end thermal solutions from facility to rack. As AI factories and HPC environments expand, maintaining ultra-clean, stable coolant loops has become a critical performance factor.

The combined offering is expected to scale globally with consistent service quality and expanded support for complex liquid cooling deployments.

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WS Investor 12-05-25

Vertiv and Caterpillar have agreed to collaborate on integrated energy optimization solutions designed for AI data centers. The partnership combines Vertiv’s power distribution and cooling technologies with Caterpillar’s and Solar Turbines’ on-site power generation systems, including natural gas turbines and reciprocating engines. The companies will deliver pre-designed, modular reference architectures that simplify deployment, reduce design cycles, and accelerate time-to-power for data center operators.

The joint offering aims to lower power usage effectiveness through coordinated, end-to-end optimization of power, cooling, distribution, and load management. Both companies will also provide global lifecycle support through their existing service networks. Executives from Vertiv and Caterpillar emphasized rising demand for scalable, resilient infrastructure driven by AI workloads and noted that on-site energy generation can help reduce dependence on the electrical grid.

The initiative is part of Vertiv’s Bring Your Own Power & Cooling strategy and aligns with Caterpillar’s focus on robust, scalable power solutions. The collaboration is expected to help operators overcome energy constraints and deploy AI-focused data centers more efficiently.

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The Investor 11-18-25

Vertiv raises annual dividend by 67% on strong performance

Vertiv Holdings Co (NYSE: VRT) announced that its Board of Directors has approved a 67 percent increase to the company’s regular annual cash dividend, raising it from 15 cents to 25 cents per share. The dividend will continue to be paid quarterly.

The first payment under the higher rate is the fourth-quarter cash dividend of 6.25 cents per Class A share, declared on 13 November 2025 and payable on 18 December 2025 to shareholders of record as of 25 November 2025.

The company said the increase reflects strong financial results and healthy cash flow generation.

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European Investor 11-14-25

Vertiv Holdings Co to acquire PurgeRite for about $1.0B cash, plus up to $250M earn-out, to expand liquid-cooling services

Vertiv Holdings Co (VRT) agreed to buy PurgeRite for approximately $1.0 billion in cash at closing, with up to $250 million additional cash tied to 2026 performance. The deal implies roughly 10.0x expected 2026 EBITDA including anticipated cost synergies and is expected to be margin-accretive to Vertiv’s Services segment. PurgeRite’s mechanical flushing, purging and filtration capabilities for liquid-cooling loops in AI/HPC data centers will be combined with Vertiv’s existing thermal portfolio to deliver end-to-end fluid management from facility to rack. Closing is targeted for Q4 2025, subject to customary approvals, including HSR review; Stifel advised Vertiv and Harris Williams advised PurgeRite.

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Global Finance News 11-03-25

Vertiv Holdings Co (NYSE: VRT) reported a strong third quarter of 2025, driven by surging demand in AI-related digital infrastructure. Organic orders rose about 60% year-on-year and 20% sequentially, while net sales increased 29% to $2.68 billion, with particularly strong growth in the Americas (+43%) and APAC (+20%). The company’s backlog grew to $9.5 billion, and its book-to-bill ratio stood at approximately 1.4x.

Operating profit reached $517 million, up 39%, while adjusted operating profit rose 43% to $596 million. The adjusted operating margin expanded to 22.3%, improving 220 basis points year-on-year and 380 basis points quarter-on-quarter. Diluted EPS climbed 122% to $1.02, and adjusted EPS rose 63% to $1.24.

CEO Giordano Albertazzi said the results highlight Vertiv’s expanding leadership in enabling next-generation digital and AI infrastructure. The company accelerated restructuring efforts in EMEA to improve efficiency and is increasing investments in manufacturing capacity, engineering, and strategic acquisitions. Executive Chairman Dave Cote added that Vertiv’s long-term investments in technology and global capacity are now “bearing fruit,” positioning the company to capitalize on the rapid expansion of the AI-driven digital economy.

Vertiv raised its full-year 2025 guidance for net sales, adjusted operating profit, adjusted EPS, and free cash flow.

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European Investor 10-22-25

Vertiv and NVIDIA Collaborate on 800 VDC Power Designs for Next-Gen AI Factories

Vertiv (NYSE: VRT) announced major progress in its collaboration with NVIDIA to develop 800 VDC power platform designs aimed at powering the next generation of AI factories. The company’s system-level infrastructure, advancing from concept to engineering readiness, will enable megawatt-scale computing for future NVIDIA Rubin Ultra platforms expected in 2027. The 800 VDC systems integrate high-efficiency rectifiers, DC busways, and converters to meet the massive energy needs of large-scale AI and high-performance computing operations. Vertiv said the platform will launch in the second half of 2026 and leverage its global service network to ensure operational safety and reliability in high-voltage data center environments.

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Global Finance News 10-13-25

Vertiv Holdings Co. (NYSE: VRT) today announced it will report its third quarter 2025 results before market open on Wednesday, October 22, 2025.

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WS Investor 10-08-25

10-26-26Global Finance News

08-24-26European Investor

08-14-26WS Investor

05-22-26European Investor

03-23-26WS Investor

COINBASE:BTCUSD

Bitcoin Slips Toward $80,000 as ETF Outflows and Fed Rate Fears Weigh on Crypto

Bitcoin traded around $80,265, down roughly 1.3% over the past five days, as investors pulled money from U.S. spot Bitcoin ETFs and broader risk sentiment remained weak.

U.S.-listed spot Bitcoin ETFs recorded roughly $773 million of net outflows over Thursday and Friday, reversing more than $1 billion of inflows earlier in the week. The abrupt shift in institutional flows has added pressure to Bitcoin after it failed to hold recent rebounds toward the mid-$80,000 range. (The edge Malaysia, crypto*news)

Macro conditions are also weighing on crypto. Investors are cautious ahead of the Federal Reserve’s October 28 policy decision after recent inflation data revived concerns that rates could remain elevated. Bitcoin has also been trading alongside weaker technology stocks, reinforcing its sensitivity to broader risk-off moves.

Leveraged long-position liquidations have amplified the decline as Bitcoin approached and briefly moved below the psychologically important $80,000 level.

Overall, the recent weakness appears to reflect a combination of ETF outflows, tighter-rate expectations and forced selling, with the upcoming Fed decision likely to remain the key near-term catalyst. (Crypto*news)

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WS News 10-26-26

Bitcoin headed 'in bullish direction' as investors bet on Fed pause: Chart of the Day

Bitcoin jumped above $86,000 on Friday after a cooler-than-expected jobs report.

(finance.yahoo.com)

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WS News 10-03-26

Gold, Silver and Bitcoin Fall as Rising Treasury Yields Pressure Alternative Assets

Gold, silver and Bitcoin moved sharply lower on Monday as rising U.S. Treasury yields and renewed inflation concerns weighed on assets that do not generate income.

Gold futures fell 3.9% to about $4,151.80 an ounce, while silver dropped 5.5% to $61.24. Bitcoin declined 1.9% to around $82,924, extending the broader risk-off move across markets.

The selloff comes as U.S. bond yields continue to climb, with the 10-year Treasury yield moving above 5.2%. Higher yields increase the opportunity cost of holding gold and silver, while also tightening financial conditions for speculative assets such as Bitcoin.

Rising oil prices are adding to the pressure by pushing inflation expectations higher. That makes investors less confident that the Federal Reserve will be able to ease monetary policy quickly and increases the possibility that interest rates remain elevated for longer.

Silver is underperforming gold because it carries both precious-metal and industrial exposure, making it more sensitive to shifts in growth expectations and market volatility. Bitcoin is also being pressured by the same higher-rate environment as investors reduce exposure to riskier assets.

The common theme across all three markets is the sharp rise in real and nominal yields. Unless Treasury yields stabilize, gold, silver and Bitcoin could remain vulnerable despite their different long-term investment narratives.

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The Investor 09-28-26

Gold and Bitcoin Rise as Investors Seek Safety and Risk Exposure After Fed Decision

Gold and Bitcoin moved higher Friday, with both assets benefiting from shifting expectations around inflation, interest rates and broader market risk sentiment.

December gold futures rose 0.60% to about $4,426 an ounce, extending gains as investors continued to assess the Federal Reserve’s latest rate increase and the outlook for inflation. Gold remained supported by demand for defensive assets, even as oil prices retreated and some immediate geopolitical supply concerns eased.

Bitcoin climbed 2.13% to around $78,019, recovering further from recent weakness. The cryptocurrency moved steadily higher through the session and briefly approached $78,500 as risk appetite improved.

The moves reflect different parts of the same macro environment. Gold is benefiting from continued demand for inflation protection and safe-haven exposure, while Bitcoin is drawing support from stronger appetite for higher-risk assets and renewed interest in crypto after the Fed’s policy decision reduced some uncertainty around the near-term rate outlook.

For both markets, the next major drivers are likely to be U.S. inflation data, Treasury yields, the dollar and any further signals from Federal Reserve officials about the possibility of additional rate increases.

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European Investor 09-18-26

Bitcoin Falls Below $76,000 After CLARITY Act Fails to Advance in Senate

Bitcoin fell 1.5% to around $75,794 on Wednesday, extending losses after the U.S. Senate failed to advance the Digital Asset Market CLARITY Act, dealing a setback to hopes for a comprehensive U.S. regulatory framework for cryptocurrencies.

The legislation failed to clear the Senate’s 60-vote procedural threshold on Tuesday. The vote was 50-49 in favor before a procedural switch, with opposition centered partly on ethics provisions and other unresolved regulatory issues. The bill was designed to establish clearer rules for digital-asset issuance and trading and clarify regulatory responsibilities between the SEC and CFTC. [Reuters)

The regulatory disappointment is being compounded by a difficult macro backdrop. Investors are awaiting Wednesday’s Federal Reserve decision, while elevated U.S. Treasury yields and expectations for a potential rate increase are supporting the dollar and pressuring risk assets including cryptocurrencies.

For Bitcoin, the combination of delayed U.S. regulatory clarity and tighter monetary-policy expectations has weakened momentum after the cryptocurrency recently traded above $80,000.

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European Investor 09-16-26

Gold and Bitcoin End Volatile Week Lower as Fed Rate-Hike Expectations Rise

Gold and Bitcoin came under pressure this week as surging Treasury yields, persistent U.S. inflation and sharply higher oil prices strengthened expectations that the Federal Reserve could raise interest rates at its September meeting.

Gold December futures finished Friday at $4,408.90 per ounce, nearly unchanged on the day but down about 1.8% over five sessions. Spot gold lost roughly 1.5% for the week, marking a third consecutive weekly decline. Rising bond yields were the main headwind, with the U.S. 10-year Treasury yield approaching 5% as investors repriced the interest-rate outlook. (Reuters)

Inflation remained central to the selloff. August CPI rose 0.4% month over month and 3.4% annually, while core prices increased 0.3%. Markets ended the week pricing an approximately 87% probability of a Fed rate increase next week. Gold nevertheless attracted dip-buying on Friday, while geopolitical uncertainty continued to provide some safe-haven support. (Reuters)

Bitcoin followed a similar risk-off pattern, falling about 2.3% over five days to around $77,300. The cryptocurrency briefly approached $80,000 before retreating toward $77,000 as higher yields reduced investor appetite for non-yielding and higher-risk assets.

Oil added another layer of pressure. Brent gained more than 8% for the week despite retreating Friday to $104.61, as Middle East supply disruptions kept inflation concerns elevated.

Next week’s Federal Reserve decision is therefore the key catalyst for both assets. A rate hike accompanied by a hawkish outlook could keep gold and Bitcoin under pressure, while a less aggressive Fed message and a retreat in Treasury yields could provide room for a rebound.

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The Investor 09-12-26

Gold, Silver and Bitcoin Fall as Higher Yields Keep Pressure on Alternative Assets

Gold, silver and Bitcoin traded lower Friday as elevated Treasury yields and persistent uncertainty over the Federal Reserve’s interest-rate outlook continued to weigh on non-yielding and risk-sensitive assets.

December gold futures fell 0.51% to $4,384.70 an ounce, although prices recovered substantially from an intraday low near $4,350. December silver declined 0.66% to $64.50 an ounce after also rebounding from earlier losses.

Bitcoin was down 1.04% over the past 24 hours at around $77,151. The cryptocurrency briefly fell toward $76,500 before recovering, but remained well below the $78,000 area seen earlier in the period.

The moves come after Thursday’s stronger-than-expected U.S. producer inflation data pushed Treasury yields sharply higher and revived concerns that the Fed could maintain a tighter policy stance. Meanwhile, oil prices remain above $100 a barrel despite Friday’s pullback, keeping energy-driven inflation risks in focus.

Investors are now turning their attention to Friday’s U.S. consumer inflation data, which could provide the next major signal for Treasury yields, the dollar, precious metals and Bitcoin ahead of next week’s Federal Reserve meeting.

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European Investor 09-11-26

Gold, Silver and Bitcoin Slide as Surging Treasury Yields Trigger Broad Selloff

Gold, silver and Bitcoin fell sharply Thursday as rising U.S. Treasury yields and renewed inflation concerns pressured both precious metals and cryptocurrencies.

December gold futures dropped 1.23% to $4,405.70 an ounce, while December silver futures plunged 4.98% to $65.23. Bitcoin fell 2.71% over 24 hours to around $77,016, briefly approaching $76,700.

The selloff came as the benchmark 10-year U.S. Treasury yield surged to around 4.92%, its highest level since late 2023. Higher yields increase the opportunity cost of holding non-yielding assets such as gold and silver and can also tighten financial conditions for risk assets including Bitcoin.

Inflation concerns intensified after August U.S. producer prices rose 0.4% month over month and 5.4% year over year, slightly above the 5.3% annual forecast. At the same time, Brent crude surged above $104 a barrel as supply disruptions and a sharp decline in Saudi production heightened fears that energy costs could keep inflation elevated.

Silver significantly underperformed gold, reflecting its greater volatility and sensitivity to both investment flows and industrial demand. Bitcoin also came under pressure as higher bond yields reduced investors’ appetite for risk.

Markets now turn to Friday’s U.S. CPI report. Another strong inflation reading could reinforce expectations for tighter Federal Reserve policy and keep upward pressure on Treasury yields, creating further headwinds for precious metals and cryptocurrencies.

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WS News 09-10-26

Gold and Bitcoin Rise as Middle East Tensions Drive Volatility Across Markets

Gold and Bitcoin moved higher Wednesday as escalating Middle East tensions, oil prices above $100 and renewed inflation concerns drove volatility across global markets.

December gold futures rose 0.77% to $4,473.10 per ounce, extending an intraday rebound as investors sought traditional safe-haven assets. Spot gold was also higher on the day as global equities declined.

Geopolitical risk remains a major catalyst. Brent crude climbed above $100 per barrel for the first time since July as renewed U.S.-Iran attacks, strikes on tankers and attacks on Saudi energy facilities intensified concerns over Middle East oil supplies. Brent reached an intraday high of $100.90, while flows through the Strait of Hormuz have fallen sharply.

Bitcoin also advanced, rising 1.76% over the past 24 hours to around $79,303 after trading below $78,000 earlier in the period. The cryptocurrency’s recovery came despite pressure on U.S. equities and rising Treasury yields, suggesting some improvement in crypto risk appetite.

However, higher oil prices create a competing risk for both assets. The energy surge is increasing inflation concerns and strengthening the case for tighter monetary policy. The U.S. 10-year Treasury yield was around 4.81%, near a three-year high, as markets await producer and consumer inflation reports later this week.

Gold is currently benefiting more directly from safe-haven demand, while Bitcoin remains sensitive to the outlook for interest rates and broader risk sentiment. Upcoming U.S. inflation data could therefore be the next major catalyst for both markets.

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WS Investor 09-09-26

Bitcoin Falls Below $79,000 as Fed Rate-Hike Bets and U.S.-Iran Conflict Weigh

Bitcoin extended its decline on Monday, falling below $79,000 as stronger U.S. interest-rate expectations and escalating tensions between the United States and Iran pressured risk appetite.

Bitcoin was trading at $78,866.34, down 1.02% over 24 hours. The cryptocurrency briefly traded above $80,000 earlier in the period before falling toward an intraday low near $78,500.

The decline follows Friday’s stronger-than-expected U.S. employment report. The economy added 162,000 jobs in August versus expectations of roughly 55,000, pushing the probability of a September Federal Reserve rate hike back toward 60%. Higher Treasury yields and tighter financial conditions tend to weigh on speculative assets including cryptocurrencies and gold.

Geopolitical risks are adding another layer of pressure. The U.S.-Iran conflict escalated over the weekend, driving Brent crude toward $97 as investors assessed the risk of further disruptions to Middle Eastern energy supplies. Higher oil prices could reinforce inflation pressures and make it harder for the Fed to adopt a more accommodative stance.

Bitcoin had climbed above $82,000 last week, but the combination of rising rate expectations, higher oil prices and geopolitical uncertainty has reversed part of that rally.

Attention now shifts to this week’s U.S. inflation data. A stronger-than-expected reading could reinforce expectations for a September rate hike and put further pressure on Bitcoin, while softer inflation could help restore risk appetite.

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WS Investor 09-07-26

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10-01-26WS News

NASDAQ:MRNA

Moderna Stock Falls 6.3% as Citi Downgrades Shares to Sell

Moderna shares fell 6.3% after Citigroup downgraded the biotechnology company to Sell from Neutral while raising its price target to $80 from $60.

Despite the higher target, the Sell rating signals a more cautious overall view on the stock relative to its current price of about $190.64.

More broadly, Moderna remains highly sensitive to expectations around its post-COVID revenue base, the commercial performance of newer vaccines and the timing and probability of success across its pipeline. Elevated research and development spending, continued cash burn and uncertainty around how quickly new products can offset declining legacy vaccine revenue are probable factors behind a more conservative stance.

The sharp decline suggests investors focused primarily on the downgrade and the large gap between the analyst’s $80 target and Moderna’s current share price.

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The Investor 09-30-26

Moderna Stock Surges 14% After Wolfe Research Upgrade

Moderna (NASDAQ: MRNA) shares surged about 14.1% on Tuesday after Wolfe Research upgraded the biotechnology company to Peer Perform from Underperform, improving Wall Street sentiment toward the stock.

Analyst Alexandria Hammond's upgrade removes Wolfe Research's bearish rating on Moderna and signals a more balanced assessment of the company's risk-reward profile.

Why Is Moderna Stock Rising?

The upgrade appears to be an important catalyst for Tuesday's sharp move. A shift from Underperform to Peer Perform suggests Wolfe Research no longer expects Moderna to materially lag comparable biotechnology stocks.

Investor attention is also increasingly focused on Moderna's pipeline beyond COVID-19 vaccines, particularly its cancer vaccine program. The company is developing an individualized neoantigen therapy, intismeran autogene (mRNA-4157/V940), with Merck's Keytruda. The program represents one of Moderna's most important opportunities to demonstrate that its mRNA technology can expand successfully into oncology.

Positive progress in cancer vaccines could significantly broaden Moderna's long-term growth profile beyond respiratory vaccines and remains an important component of the investment case surrounding the company.

## Sentiment Improves, but Rating Remains Cautious

The Peer Perform rating is not equivalent to a Buy or Outperform recommendation. Instead, it indicates that Wolfe Research has become less bearish on Moderna.

Still, the 14% rally suggests investors are responding strongly to the removal of the Underperform rating, while Moderna's cancer vaccine opportunity and broader mRNA pipeline continue to provide potentially significant long-term catalysts.

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WS Investor 08-25-26

Moderna Soars 100%, Merck Jumps 10% After Landmark Phase 3 Cancer Vaccine Results

Moderna shares surged about 100% on Wednesday, while Merck climbed roughly 10%, after the companies announced positive Phase 3 results for their personalized mRNA cancer therapy intismeran autogene in combination with Merck’s blockbuster immunotherapy KEYTRUDA.

The INTerpath-001 trial met both its primary endpoint of recurrence-free survival and a key secondary endpoint of distant metastasis-free survival in patients with completely resected Stage IIB-IV melanoma. The combination produced statistically significant and clinically meaningful improvements compared with KEYTRUDA alone.

A Major Milestone for Moderna’s mRNA Platform

The results are particularly significant for Moderna because they represent the first positive Phase 3 readout for an individualized neoantigen therapy and the first positive Phase 3 study for an mRNA-based cancer therapy. The treatment is individually manufactured using mutations identified from each patient's tumor, with the resulting mRNA therapy designed to train the immune system to recognize and attack cancer cells.

That breakthrough likely explains the much larger reaction in Moderna shares. The results potentially validate the use of Moderna's mRNA technology beyond infectious-disease vaccines and provide important clinical validation for its oncology pipeline.

The companies also said no new safety signals were observed. They plan to present detailed data at an upcoming international medical meeting and share the results with regulatory authorities, opening the path toward potential filing submissions.

Merck Gains as KEYTRUDA Franchise Could Expand

For Merck, the results strengthen the long-term position of KEYTRUDA, its cornerstone cancer therapy. The combination is the first regimen to demonstrate statistically significant and clinically meaningful improvements in both recurrence-free and distant metastasis-free survival compared with KEYTRUDA alone in this adjuvant melanoma population.

Earlier Phase 2b data had already provided encouraging evidence: at five-year follow-up, the combination showed a 49% reduction in the risk of recurrence or death and a 59% reduction in the risk of distant metastasis or death compared with KEYTRUDA alone.

The companies are now studying intismeran across a broader oncology program encompassing nine Phase 2 and Phase 3 trials, including melanoma, non-small cell lung cancer, bladder cancer and renal cell carcinoma.

With Moderna up around 100% and Merck gaining about 10%, the market reaction reflects more than a single successful melanoma trial. Investors appear to be pricing in the possibility that personalized mRNA cancer therapies could become a new treatment platform, with potentially much broader applications if ongoing trials in other tumor types are successful.

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Global Finance News 08-19-26

BioNTech and Moderna: Two mRNA Giants Chart Different Paths as COVID Revenue Fades

May 6, 2026 · Earnings Analysis

The two companies that changed the world with their mRNA COVID-19 vaccines are now deep into a painful reinvention. BioNTech and Moderna both reported first quarter 2026 results within days of each other, and while the headline numbers tell a familiar story of declining vaccine revenues and widening losses, a closer look reveals two very different bets on what comes next.

BioNTech posted Q1 revenues of €118.1 million, down from €182.8 million a year ago, with net loss widening to €531.9 million. Moderna reported $389 million in revenue, up significantly from the prior year but heavily supported by international government deliveries. Moderna's net loss of $1.3 billion was inflated by a $0.9 billion one-time litigation charge, making its underlying trajectory somewhat less alarming than the headline implies. BioNTech ended the quarter with €16.8 billion in cash while Moderna held $7.5 billion.

Where the two companies diverge most sharply is strategy. BioNTech has made oncology its singular focus, pouring resources into pumitamig, gotistobart, and a growing antibody-drug conjugate portfolio, with six late-stage data readouts expected in 2026. Moderna is playing a broader game, advancing infectious disease vaccines including the world's first approved flu plus COVID combination product, while also pursuing oncology and rare disease therapeutics. Its personalized cancer vaccine intismeran, developed with Merck, will present five-year melanoma data at ASCO in June.

BioNTech is also navigating a manufacturing restructuring affecting 1,860 jobs and the planned departure of its co-founders by end of 2026. Moderna, by contrast, is cutting costs aggressively, with R&D spending down 24% year-over-year.

Both are burning cash to fund their futures. BioNTech is going deep and narrow on cancer. Moderna is going wide across multiple disease areas. Which approach pays off will likely become clearer before the year is out.

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WS Investor 05-06-26

Moderna Shares Fall 3.4% as Earnings Highlight Losses Despite Pipeline Progress

Shares of Moderna, Inc. declined 3.44% to $44.36 on today, as investors reacted to the company’s first-quarter 2026 earnings, which revealed significant losses driven by one-time charges despite improving revenue trends and pipeline developments.

The biotech firm reported quarterly revenue of $389 million, a sharp increase compared to the prior year, largely supported by higher COVID-19 vaccine sales in international markets. Approximately 80% of total revenue came from outside the United States, reflecting the company’s growing global footprint.

However, profitability remained under pressure. Moderna posted a GAAP net loss of $1.3 billion, with a loss per share of $3.40. A major factor behind the loss was a $0.9 billion non-recurring litigation settlement charge, which significantly weighed on earnings during the quarter.

Despite the headline loss, underlying cost discipline showed improvement. Research and development expenses declined 24% year-over-year, while selling, general and administrative expenses fell 18%, indicating ongoing efforts to streamline operations following the pandemic-driven peak period.

On the strategic front, Moderna continued to advance its pipeline. The company secured key regulatory approvals in Europe, including for its flu and COVID combination vaccine, and initiated a Phase 3 trial for a lung cancer treatment. These developments underscore its transition toward a broader portfolio beyond COVID vaccines.

CEO Stéphane Bancel emphasized confidence in returning to revenue growth in 2026, supported by upcoming product launches and continued clinical progress across multiple therapeutic areas.

Looking ahead, Moderna reiterated its expectation of up to 10% revenue growth for full-year 2026, alongside plans to reduce operating expenses excluding the one-time litigation impact. The company also projected year-end cash and investments between $4.5 billion and $5.0 billion, maintaining a solid liquidity position.

Overall, while revenue growth and pipeline momentum provided some positive signals, the substantial quarterly loss and ongoing transition period appear to have weighed on investor sentiment, pushing the stock lower following the earnings release.

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European Investor 05-01-26

Recordati and Moderna Partner on mRNA Therapy for Propionic Acidemia

Recordati Industria Chimica e Farmaceutica has entered into a global collaboration and license agreement with Moderna to develop and commercialize mRNA-3927, an investigational therapy for propionic acidemia (PA), a rare inherited metabolic disorder.

Under the agreement, Moderna will continue to lead the clinical development of mRNA-3927, while Recordati will assume responsibility for global commercialization if the therapy receives regulatory approval. The collaboration brings together Moderna’s expertise in mRNA-based therapies and Recordati’s established global rare disease commercial infrastructure.

mRNA-3927 is designed to restore the activity of the propionyl-CoA carboxylase (PCC) enzyme, which is deficient in patients with propionic acidemia. The condition leads to the accumulation of toxic metabolites and can result in recurrent life-threatening metabolic decompensation events, as well as neurological and cardiac complications. Currently, no approved therapies directly target the underlying cause of the disease, and treatment options are largely symptomatic, sometimes including liver transplantation.

Interim clinical data published in Nature showed early signs of clinical improvement. The therapy is currently being evaluated in a potential registrational study aimed at reducing metabolic decompensation events, with patient enrollment completed and a data readout expected by the end of 2026.

Financial terms of the agreement include a $50 million upfront payment from Recordati to Moderna, along with up to $110 million in near-term development and regulatory milestones. Moderna is also eligible for additional commercial and sales milestones, as well as tiered royalties on annual net sales. Recordati indicated that it does not expect a significant EBITDA impact prior to a potential launch. The transaction remains subject to customary closing conditions, including U.S. antitrust clearance.

Propionic acidemia affects approximately 1 in 100,000 to 150,000 individuals worldwide and is caused by pathogenic variants in the PCCA or PCCB genes, resulting in PCC deficiency.

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Global Finance News 02-18-26

Moderna said it expects 2025 revenue of about $1.9 billion on an unaudited basis, roughly $100 million above the midpoint of the range it discussed on its third-quarter 2025 earnings call, as the company provided business and pipeline updates at the 44th Annual J.P. Morgan Healthcare Conference. Moderna also said it improved its expected 2025 GAAP operating expenses by $200 million versus its prior outlook, and raised its projected year-end 2025 cash balance to about $8.1 billion, including a $0.6 billion draw from its recently announced $1.5 billion term loan facility.

Looking ahead, Moderna reiterated its plan for up to 10% revenue growth in 2026 alongside further GAAP operating expense reductions, with 2026 GAAP operating expenses expected to be about $4.9 billion. The company also pointed to multiple potential 2026 catalysts, including possible first approvals for its seasonal flu vaccine and flu/COVID combination vaccine, and pivotal trial readouts across oncology, rare disease, and infectious disease programs.

Source: Accesswire

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The Investor 01-12-26

Moderna said it made meaningful operational, commercial and pipeline progress in 2025 despite a challenging U.S. market, according to a shareholder letter released on January 5. The company reported having three approved commercial products, improved demand forecasting in an endemic environment, and cost reductions that exceeded its original cash cost reduction target by nearly $1 billion. Moderna said disciplined execution across manufacturing, R&D and SG&A helped lower GAAP operating expenses to an expected level below $5.5 billion in 2025, down sharply from prior years.

Commercially, Moderna highlighted the U.S. launch of its updated COVID vaccine mNEXSPIKE as a key driver, noting it accounted for about 24 percent of U.S. retail COVID vaccinations in 2025 and nearly one-third of doses among adults aged 65 and older. The company also pointed to multi-year partnerships in markets such as the UK, Canada and Australia, along with new agreements in Brazil and Taiwan, as providing revenue visibility and strengthening its global manufacturing footprint.

Looking ahead, Moderna said it expects to return to revenue growth in 2026, targeting up to 10 percent growth, supported by its seasonal vaccine franchise and geographic expansion. The company reiterated its goal of reaching cash breakeven in 2028 and outlined longer-term growth opportunities in oncology and rare diseases, including late-stage programs such as intismeran autogene and mRNA-based therapies for propionic acidemia and methylmalonic acidemia.

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European Investor 01-05-26

Moderna Q3 2025 Results: Narrowed Guidance, Cost Cuts, and Pipeline Progress

Moderna reported third-quarter 2025 revenue of $1.0 billion, down 45% year over year, driven by lower COVID-19 vaccine sales. The company posted a GAAP net loss of $200 million, or $0.51 per share, compared with a $13 million profit in Q3 2024.

COVID-19 vaccines contributed $971 million in sales during the quarter, including $781 million from the U.S. and $190 million from international markets. Moderna’s new mNEXSPIKE vaccine, approved in 40 countries, has seen strong uptake among higher-risk adults. The RSV vaccine mRESVIA generated $2 million in sales.

Cost of sales fell 60% to $207 million, while R&D expenses dropped 30% to $801 million as cost-cutting and trial prioritization continued. SG&A expenses declined 5% to $268 million. The company ended the quarter with $6.6 billion in cash and investments, expecting a year-end balance of $6.5–$7.0 billion, up from prior estimates.

Moderna narrowed its 2025 revenue outlook to $1.6–$2.0 billion (previously $1.5–$2.2 billion) and lowered expected GAAP operating expenses by $0.7 billion to $5.2–$5.4 billion. It also improved its cash outlook by $0.5–$1 billion, citing cost efficiencies.

Pipeline progress included Phase 3 results for the flu vaccine (mRNA-1010) and the combined flu/COVID vaccine (mRNA-1083), with global filings expected by early 2026. In oncology, Moderna and Merck’s personalized cancer vaccine mRNA-4157 is in multiple Phase 3 and Phase 2 trials. The company is advancing treatments for rare metabolic diseases such as propionic acidemia (mRNA-3927) and methylmalonic acidemia (mRNA-3705), with the latter entering a registrational study in 2026.

CEO Stéphane Bancel said the company achieved “strong commercial and financial performance” amid its cost-reduction program and remains focused on financial discipline as it expands its mRNA-based portfolio.

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The Investor 11-06-25

Moderna Announces Results of 2025 Annual Meeting of Stockholders

On April 30, 2025, Moderna held its 2025 Annual Meeting of Stockholders, where all proposals were approved with a quorum present.

Three directors—Noubar Afeyan, Stéphane Bancel, and François Nader—were re-elected to serve three-year terms expiring in 2028. Stéphane Bancel received the most support, with over 245 million votes in favor.

Shareholders also approved, on a non-binding advisory basis, the compensation of the company’s named executive officers, with approximately 192 million votes in favor and 56 million against.

Additionally, Ernst & Young LLP was ratified as Moderna’s independent public accounting firm for 2025, receiving nearly 291 million votes in support.

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Global Finance News 05-06-25

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05-11-26Global Finance News

NYSE:BOH

Bank of Hawai‘i Slips 0.3% as Higher Nonperforming Assets Offset Margin Expansion

Bank of Hawai‘i (NYSE: BOH) shares fell about 0.3% after the company reported modest sequential earnings growth and another quarter of net interest margin expansion, but also a sharp increase in nonperforming assets.

Third-quarter net income was $64.3 million, up 0.7% from the prior quarter, while diluted EPS increased to $1.49 from $1.47. Net interest income rose 1.6% sequentially to $156.1 million, and net interest margin improved by 4 basis points to 2.82%, marking the tenth consecutive quarterly increase.

Loan growth remained positive, with total loans and leases reaching $14.4 billion, up 2.1% from year-end 2025. Commercial loans increased 3.8%, while the bank continued to benefit from fixed-rate asset repricing and new loan production at higher rates.

The main area of concern was asset quality. Nonperforming assets climbed to $43.4 million from $11.5 million in the prior quarter, pushing the nonperforming asset ratio to 0.30% from 0.08%. Management attributed the increase primarily to a single commercial mortgage placed on non-accrual status and said it did not indicate broader portfolio deterioration.

Capital remained strong, and the company repurchased $20.2 million of shares during the quarter. Its board subsequently increased the share repurchase authorization by $200 million to $268.7 million and maintained the quarterly common dividend at $0.70 per share.

The slight 0.3% decline appears to reflect a mixed reaction: improving margins, loan growth and stronger capital returns were balanced by the sizable increase in nonperforming assets and continued deposit pressure.

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Global Finance News 10-26-26

Bank of Hawai‘i Stock Falls 4% Despite Strong Earnings as Investors Focus on Deposit Trends

Bank of Hawai‘i (NYSE: BOH) shares fell about 4% on Monday despite reporting stronger second-quarter earnings, as investors looked beyond headline profit growth and focused on softer deposit trends and higher credit loss provisions.

The regional bank reported net income of $63.8 million, up 11.1% from the previous quarter, while diluted earnings per share increased to $1.47 from $1.30. Net interest income rose 1.7% to $153.6 million, supported by continued loan repricing, and net interest margin expanded to 2.78%, marking the ninth consecutive quarter of margin improvement.

Management highlighted steady balance sheet execution, with total loans and leases increasing 1.5% from year-end, driven by growth in commercial lending and residential mortgages. Asset quality also remained healthy, with non-performing assets declining to just 0.08% of total loans and leases.

However, investors appeared to focus on areas of caution within the report. Total deposits declined 1.4% from year-end, while average deposits also edged lower during the quarter. The company also recorded a higher provision for credit losses as net loan charge-offs increased compared with the previous quarter, even though overall credit metrics remained strong.

Bank of Hawai‘i maintained a solid capital position, repurchased $17.0 million of common stock during the quarter, and announced another quarterly common dividend of $0.70 per share. Management said the company remains well capitalized and continues to benefit from disciplined balance sheet management.

The stock's decline suggests investors were looking for stronger balance sheet growth and deposit momentum following the recent rally in regional bank shares. While the earnings report demonstrated improving profitability and expanding net interest margins, the softer funding trends and higher credit provisioning appeared to outweigh the otherwise solid quarterly performance.

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European Investor 07-27-26

Bank of Hawai‘i Corporation reported strong fourth-quarter and full-year 2025 results, driven by continued expansion in net interest income and margin improvement. For the fourth quarter of 2025, the company posted diluted earnings per share of $1.39 and net income of $60.9 million, representing solid growth both quarter-over-quarter and year-over-year. Net interest margin increased to 2.61%, supported primarily by lower deposit costs, while the average quarterly cost of total deposits declined to 1.43%. Share repurchases were also resumed during the quarter.

For the full year 2025, Bank of Hawai‘i delivered diluted earnings per share of $4.63 and net income of $205.9 million, up more than 37% compared with 2024. Return on average common equity rose to 13.29%, reflecting improved profitability and disciplined expense management. Management highlighted consistent growth in net interest income for the seventh consecutive quarter, stable loan and deposit growth, and continued strong credit quality as key contributors to performance.

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WS Investor 01-26-26

Bank of Hawai‘i Reports Strong Q1 2025 Results with Higher Earnings and Dividend

Bank of Hawai‘i Corporation (NYSE: BOH) posted first quarter 2025 net income of $44.0 million, or $0.97 per diluted common share, up from $0.85 in the prior quarter and $0.87 a year ago. The return on average common equity was 11.80%, improving from both the fourth quarter of 2024 and the year-ago period.

Net interest income rose to $125.8 million, a 4.7% increase from the prior quarter and 10.4% year-over-year, driven by lower interest-bearing deposit costs and stronger earning asset yields. Net interest margin improved to 2.32%. Noninterest income was $44.1 million, up 2.3% from the previous quarter, while noninterest expense rose 2.3% to $110.5 million.

Asset quality remained strong. Non-performing assets totaled $17.5 million, 0.12% of loans and leases, and net loan charge-offs were $4.4 million. The allowance for credit losses stood at $147.7 million, or 1.05% of total loans and leases.

Total assets reached $23.9 billion. Loans increased 0.3% to $14.1 billion, while deposits grew 1.8% to $21.0 billion. Commercial loans rose 1.2%, while consumer loans declined slightly.

The Tier 1 Capital Ratio was 13.93%, and the Tier 1 Leverage Ratio was 8.36%. No share repurchases were made during the quarter, with $126.0 million remaining under the buyback program.

The board declared a $0.70 quarterly cash dividend on common shares, payable June 13, 2025. Dividends were also declared for the company’s Series A and Series B preferred shares.

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WS Investor 04-22-25

Bank of Hawaii Corporation filed a Form 8-K on February 27, 2025, reporting compensation decisions for its Named Executive Officers (NEOs). The Human Resources and Compensation Committee approved performance-based bonus awards and salary adjustments for 2025. Chairman and CEO Peter S. Ho received a $1,500,000 bonus and a base salary of $925,000. Other executives, including the CFO and Chief Risk Officer, also received bonuses and salary adjustments.

The company follows a pay-for-performance approach, where executive compensation is tied to pre-established performance goals under the 2024 Stock and Incentive Plan. Restricted Stock Unit (RSU) grants were awarded to certain executives, with Peter S. Ho receiving 33,581 RSUs, and other executives receiving smaller grants.

The filing also included exhibits related to the stock and incentive plan.

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The Investor 03-05-25

The Bank of Hawaii Corporation’s 2024 Stock and Incentive Plan includes a Restricted Stock Unit (RSU) Grant Agreement for eligible executives. Under this agreement, RSUs are awarded with a vesting schedule that requires continuous employment for full vesting. The units are subject to forfeiture if employment is terminated, except in cases of death, disability, or a qualifying termination following a change in control.

The agreement specifies that RSUs will be settled in company shares after vesting, with an option for deferral under the Bank of Hawaii Corporation Executive Base Salary Deferral Plan. During the restriction period, RSUs cannot be transferred or pledged. Dividend equivalents will be credited and paid in cash until the RSUs are settled.

The agreement ensures compliance with tax regulations, including Section 409A of the Internal Revenue Code. Any changes to the agreement due to legal requirements may be made by the company without participant consent, but material adverse changes require approval. The agreement also includes provisions for data privacy and administrative processing.

By accepting the grant, the participant agrees to all terms outlined in the agreement and the broader incentive plan. The document was executed by Patrick M. McGuirk, Vice Chair of the Bank of Hawaii Corporation.

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European Investor 01-31-25

Bank of Hawai‘i Corporation reported strong financial results for 2024, with diluted earnings per share of $3.46 for the year and $0.85 for the fourth quarter. Net income for the year was $150 million, a 12.4% decline from 2023, while fourth-quarter net income reached $39.2 million, reflecting a 28.8% increase year-over-year. Total assets were $23.6 billion at year-end, and total deposits stood at $20.6 billion, with noninterest-bearing deposits comprising 26.3% of the total. The company’s net interest margin for the fourth quarter increased to 2.19%, supported by higher earning asset yields and controlled deposit costs.

Asset quality remained strong, with non-performing assets at $19.3 million, representing 0.14% of total loans and leases. Provision for credit losses for the fourth quarter was $3.8 million, reflecting an increase from prior periods. The allowance for credit losses was $148.5 million, maintaining a ratio of 1.06% to total loans and leases. Meanwhile, total loans and leases grew modestly to $14.1 billion, with a notable 6.0% year-over-year increase in commercial loans, though consumer loans declined.

The company declared a quarterly dividend of $0.70 per common share, payable in March 2025. Capital ratios remained robust, with the Tier 1 Capital Ratio at 13.95%. No share repurchases occurred in the fourth quarter, leaving $126 million in buyback authority. Preferred stock dividends were also announced, reinforcing the company’s commitment to returning value to shareholders while maintaining strong capital and credit quality metrics.

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The Investor 01-27-25

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