Associated Banc-Corp's transformation drive, loan growth, digital investment and acquisitions are lifting revenues and margins as it expands in high-growth markets.
Associated Banc-Corp's transformation drive, loan growth, digital investment and acquisitions are lifting revenues and margins as it expands in high-growth markets.
Baron Durable Advantage Fund returned 2.6% (institutional shares) in the fourth quarter of 2025, in line with the 2.7% gain for its benchmark, the S&P 500 Index. The fund, in its Q4 shareholder letter, stated that Alphabet ( GOOGL ), Taiwan Semiconductor Manufacturing Company (TSMC) ( TSM ), and Broadcom ( AVGO ) were the top contributors, while Meta Platforms ( META ), Blackstone ( BX ), and Micr...
Baron Durable Advantage Fund returned 2.6% (institutional shares) in the fourth quarter of 2025, in line with the 2.7% gain for its benchmark, the S&P 500 Index. The fund, in its Q4 shareholder letter, stated that Alphabet ( GOOGL ), Taiwan Semiconductor Manufacturing Company (TSMC) ( TSM ), and Broadcom ( AVGO ) were the top contributors, while Meta Platforms ( META ), Blackstone ( BX ), and Microsoft ( MSFT ) were top detractors for the quarter. During Q4, the fund initiated new positions in Quanta Services ( PWR ) and strengthened its holdings in Danaher ( DHR ), CME Group ( CME ), Welltower ( WELL ), TransDigm ( TDG ), and MSCI ( MSCI ). The purchases were funded by reducing seven other holdings. The fund reduced its holdings in Broadcom ( AVGO ), Mastercard ( MA ), S&P Global ( SPGI ), Intuit ( INTU ), and Arch Capital Group ( ACGL ) during the quarter. Source: Q4 shareholder letter More on Quanta Services, Broadcom, etc. Intuit Inc. (INTU) Q2 2026 Earnings Call Transcript Quanta: A Specialty Contracting Company Benefiting From Secular Growth Tailwinds Broadcom Q1 Preview: Tech Rotation Could Trigger Another Irrational Selloff Baron Durable Advantage Fund adds PWR; reduces stake in AVGO, MA, INTU among Q4 moves Intuit reaffirms 12–13% revenue growth guidance for 2026 while expanding AI-driven platforms and mid-market reach
The Green party has pulled off a landmark victory in the Gorton and Denton byelection in a major blow to Keir Starmer. Hannah Spencer, a local plumber, was elected as the party’s first MP in northern England, with Labour pushed into third place behind Nigel Farage’s Reform UK despite having a 13,000-vote majority. Lucy Hough speaks to the Guardian’s north of England correspondent Hannah Al-Othman,...
The Green party has pulled off a landmark victory in the Gorton and Denton byelection in a major blow to Keir Starmer. Hannah Spencer, a local plumber, was elected as the party’s first MP in northern England, with Labour pushed into third place behind Nigel Farage’s Reform UK despite having a 13,000-vote majority. Lucy Hough speaks to the Guardian’s north of England correspondent Hannah Al-Othman, who lives in the constituency and was at the count overnight Continue reading...
Earnings Call Insights: Morgan Stanley Direct Lending Fund (MSDL) Q4 2025 Management View CEO Michael Occi opened the call noting, "We generated solid performance in the fourth quarter. In terms of operating results, we earned net investment income of $0.49 per share as compared with $0.50 per share for the prior quarter." He highlighted confidence in MSDL’s execution and portfolio resilience, men...
Earnings Call Insights: Morgan Stanley Direct Lending Fund (MSDL) Q4 2025 Management View CEO Michael Occi opened the call noting, "We generated solid performance in the fourth quarter. In terms of operating results, we earned net investment income of $0.49 per share as compared with $0.50 per share for the prior quarter." He highlighted confidence in MSDL’s execution and portfolio resilience, mentioning that pressures on portfolio yield are easing and that credit stress has been isolated rather than systemic. Occi addressed sector-specific concerns, stating, “As we have all seen in recent weeks, the market's latest concern has been artificial intelligence as a threat to software. While we recognize that AI will be disruptive, we are confident in our underwriting process that has explicitly taken AI risk into account for a number of years.” On capital allocation and shareholder returns, Occi announced, “The Board declared a distribution of $0.45 per share for the first quarter of 2026, representing a $0.05 reduction from the prior quarter. This adjustment aligns the distribution with the normalization of short-term interest rates and implies a still robust yield on NAV of approximately 9%.” Jeffrey Day, Co-President, emphasized origination strength: “During the quarter, MSDL committed $146 million to new investments the majority of which were for new LBO transactions, underscoring our continued ability to originate and execute on unique well-structured opportunities.” Day detailed risk management, saying, “We have been utilizing a proprietary AI scorecard, which we apply to every new investment and is updated on a quarterly basis as part of our ongoing portfolio review process.” CFO David Pessah reported, “At quarter end, our portfolio totaled $3.8 billion at fair value, maintaining our strong first lien focus comprising of 96% first lien debt, 2% second lien debt and the remainder in equity and other investments.” Outlook Occi described the deal environment as impr...
Photo from the Jeffrey Epstein files released by the U.S. Justice Department showing Bill Clinton and Jeffrey Epstein. Date and context is unclear. U.S. Department of Justice Former President Bill Clinton was set to tell the House Oversight Committee on Friday morning in testimony about Jeffrey Epstein that "I saw nothing and I did nothing wrong" during their times flying together or socializing. ...
Photo from the Jeffrey Epstein files released by the U.S. Justice Department showing Bill Clinton and Jeffrey Epstein. Date and context is unclear. U.S. Department of Justice Former President Bill Clinton was set to tell the House Oversight Committee on Friday morning in testimony about Jeffrey Epstein that "I saw nothing and I did nothing wrong" during their times flying together or socializing. "First, I had no idea of the crimes Epstein was committing," Clinton planned to say during his closed-door deposition, which was underway in Chappaqua, New York. "No matter how many photos you show me, I have two things that at the end of the day matter more than your interpretation of those 20-year-old photos. I know what I saw, and more importantly, what I didn't see," Clinton said to say. "I know what I did, and more importantly, what I didn't do," he planned to say. "I saw nothing, and I did nothing wrong." "As someone who grew up in a home with domestic abuse, not only would I not have flown on his plane if I had any inkling of what he was doing — I would have turned him in myself and led the call for justice for his crimes, not sweetheart deals," Clinton planned to say. "But even with 20/20 hindsight, I saw nothing that ever gave me pause." Read more about the Jeffrey Epstein files List: High-profile people burned by past dealings exposed in the Epstein files World Economic Forum CEO quits after Epstein ties scrutinized Larry Summers to resign as Harvard professor as Epstein fallout continues DOJ withheld Epstein files about claim Trump sexually abused minor: MS NOW Former prince Andrew released by police, Trump calls his arrest 'a shame' Clinton also blasted the committee for forcing his wife, former Secretary of State Hillary Clinton, to testify about the notorious sex predator Epstein on Thursday. The committee issued subpoenas to both Clintons demanding their testimony, and threatened to hold them in contempt of Congress if they failed to comply. Hillary Clinton s...
TG Therapeutics misses Q4 earnings estimates, but total revenues surge 78% y/y on strong Briumvi sales. The company reaffirms its 2026 revenue outlook.
TG Therapeutics misses Q4 earnings estimates, but total revenues surge 78% y/y on strong Briumvi sales. The company reaffirms its 2026 revenue outlook.
In the long run, the value of a company relies on its ability to make money. However, there are different pathways to profitability for young businesses. Historically, many businesses concentrated on becoming profitable as quickly as possible, even if it meant choosing not to make certain investments that would result in faster growth. This more disciplined approach to capital allocation ensured t...
In the long run, the value of a company relies on its ability to make money. However, there are different pathways to profitability for young businesses. Historically, many businesses concentrated on becoming profitable as quickly as possible, even if it meant choosing not to make certain investments that would result in faster growth. This more disciplined approach to capital allocation ensured that shareholders got a short-term reward for their investment, but sometimes at the cost of giving up long-term opportunities. Amazon (NASDAQ: AMZN) was one of the first companies to change that long-held paradigm. Rather than emphasizing short-term profits, the e-commerce giant instead didn't hesitate to spend money toward the long-term goal of maximizing market share. And as you'll see in this second article in my three-part series on Amazon for the Voyager Portfolio , the resulting shift transformed the way that countless companies pitch their value propositions to shareholders. Image source: Amazon. Continue reading
3alexd/iStock via Getty Images Shares of Aspen Aerogels ( ASPN ) have fallen to fresh lows after the outlook for the industrial and EV insulation manufacturer remains dismal, following a huge boom-bust cycle in the past. With revenues having completely imploded now, the situation is dire, but there are some positive factors and expectations as well, although the situation remains highly speculativ...
3alexd/iStock via Getty Images Shares of Aspen Aerogels ( ASPN ) have fallen to fresh lows after the outlook for the industrial and EV insulation manufacturer remains dismal, following a huge boom-bust cycle in the past. With revenues having completely imploded now, the situation is dire, but there are some positive factors and expectations as well, although the situation remains highly speculative. A lack of execution and past disappointments make it difficult to build conviction, although the company still has time to (partially) recover from this. Some Perspective Aspen Aerogels started its corporate history as a provider of industrial insulation activities, this being a $100 million but lossmaking business when the company went public a little over a decade ago. Understanding what happened to the business is key, as multiple boom-bust cycles and strategic pivots explain why the company finds itself where it sits today. After the company failed to generate sufficient revenues to achieve profitability, the company decided to reposition its business to provide solutions for EV batteries. This made it so that a share price of just a dollar ended up rising to a high of $60 in 2021, followed by a pullback to the low single digits in 2023. This was followed by a recovery to the $30 mark in 2024, with shares now back down again at just about $3. These developments came as the company saw strong growth coming out of the pandemic. Revenues rose nearly 50% to $180 million in 2022 as growth slowed to 30% in 2023, yet growth accelerated to triple digits in 2024, which made the production capacity limits of $650 million come within sight. To facilitate further and continued growth, the company was looking to build a huge new plant, at a nearly $2 billion bill, aided by the help of the DOE and external financiers. All this was driven by a strong 2024, with revenues reported up 90% to $453 million, accompanied by an operating profit of $53 million. A Big Implosion After the com...
Former president tells House oversight committee he is cooperating in the Epstein investigation out of love of country and desire for victims to heal Sign up for the Breaking News US email to get newsletter alerts direct to your inbox James Comer, the chair of the House oversight committee, said the committee’s list of questions for Bill Clinton grew longer after Hillary Clinton’s deposition yeste...
Former president tells House oversight committee he is cooperating in the Epstein investigation out of love of country and desire for victims to heal Sign up for the Breaking News US email to get newsletter alerts direct to your inbox James Comer, the chair of the House oversight committee, said the committee’s list of questions for Bill Clinton grew longer after Hillary Clinton’s deposition yesterday, where she deferred a host of questions to her husband. “So we already had a big portfolio of questions for him, and that increased yesterday,” Comer said at a press conference outside the building where the closed-door deposition was set to begin shortly. Continue reading...
Perrigo misses Q4 EPS estimates. Its 2026 sales and profit estimates are below expectations as Infant Formula headwinds persist. Shares slide on weak guidance.
Perrigo misses Q4 EPS estimates. Its 2026 sales and profit estimates are below expectations as Infant Formula headwinds persist. Shares slide on weak guidance.
Welcome to Bay Street Edition, our weekly newsletter devoted to what’s happening in Canadian finance, covering strategy, deals, people moves and economics. I’m Christine Dobby , Bloomberg’s Toronto-based banking reporter, and you’ll find me in your inbox every Friday. This week, we’re talking about Canadian bank earnings, what the Apotex IPO could mean for the country’s capital markets and Jimmy P...
Welcome to Bay Street Edition, our weekly newsletter devoted to what’s happening in Canadian finance, covering strategy, deals, people moves and economics. I’m Christine Dobby , Bloomberg’s Toronto-based banking reporter, and you’ll find me in your inbox every Friday. This week, we’re talking about Canadian bank earnings, what the Apotex IPO could mean for the country’s capital markets and Jimmy Pattison’s apparent successor — an accountant five decades younger than him. Plus: solve a murder over cocktails on your next vacation. Please share this newsletter with your friends and colleagues, and if it was forwarded to you, sign up here to receive it every week. Good Quarter, Guys ROE is the new PCL. I made this “joke” on BNN Bloomberg Television last week and it sure held up this week as Canada’s big banks reported fiscal first-quarter results. Here’s what I meant. Return on equity (ROE) ratios took center stage as they all reported earnings that beat analyst estimates, with revenue growth coming from most of the banks’ operating businesses. Instead of provisions for credit losses (PCLs) — the money banks set aside for loans that might go bad — the focus has turned to how much profit the lenders can generate for every dollar of shareholder capital. And it was a good quarter for that. Elevated market activity continues to fuel trading desks, and asset appreciation is juicing fee revenue in their wealth management businesses. Loan growth may be slow, but domestic retail banking looks solid. Expense control has also been a theme — Bank of Montreal and Toronto-Dominion Bank each recorded about C$200 million ($146 million) in restructuring charges in the quarter, setting them up for improved returns ahead. Both lenders’ US divisions, which have faced profitability challenges, are making progress and appear poised to deliver better results. The Big Six have all done sizable stock buybacks and their ROE figures all climbed in the first quarter. In several cases, they’re ahe...
The Pentagon is poised to take unprecedented steps in its standoff with Anthropic PBC that risk touching off a massive legal fight with the $380 billion company and threaten to undermine Pentagon efforts to further adopt artificial intelligence. At the center of the escalating dispute is a 76-year-old law called the Defense Production Act, passed in 1950 to boost production for the Korean War. Def...
The Pentagon is poised to take unprecedented steps in its standoff with Anthropic PBC that risk touching off a massive legal fight with the $380 billion company and threaten to undermine Pentagon efforts to further adopt artificial intelligence. At the center of the escalating dispute is a 76-year-old law called the Defense Production Act, passed in 1950 to boost production for the Korean War. Defense Secretary Pete Hegseth has threatened to invoke the legitigation as a way of forcing Anthropic to give up guardrails it’s set around the way its Claude AI system can be used. People familiar with the matter said earlier this week that Hegseth made the threat in a contentious meeting with Anthropic Chief Executive Officer Dario Amodei . That warning — along with the threat to designate Anthropic what’s known as a supply-chain risk — raises a host of legal questions. Any such moves would almost certainly be challenged in court. The Defense Production Act was meant to make sure the government has critical resources at its disposal in the event of an emergency. President Donald Trump used it during the Covid-19 pandemic to manage distribution of protective equipment. President Joe Biden invoked it to address a shortage in baby formula. Deploying the act to strong-arm a tech startup into accepting Pentagon demands on how its software is used would be new territory. Declaring Anthropic a supply-chain risk could put limits on how other defense contractors use its services. That’s normally a designation reserved for state-backed actors in China or Russia. “It is unclear how they intend to use DPA, we don’t know which DPA authorities they will use, and we also don’t know whether this is a one-off or the first of its kind,” according to Bloomberg Economics analyst Becca Wasser . “This is akin to the uncertainty that was generated around the administration taking stakes in private companies using DPA authorities,” she said. Read More: Anthropic’s Pentagon Showdown Is About More T...
In trading on Friday, shares of Amphastar Pharmaceuticals Inc (Symbol: AMPH) crossed below their 200 day moving average of $25.98, changing hands as low as $21.82 per share. Amphastar Pharmaceuticals Inc shares are currently trading off about 14.9% on the day. The chart below
In trading on Friday, shares of Amphastar Pharmaceuticals Inc (Symbol: AMPH) crossed below their 200 day moving average of $25.98, changing hands as low as $21.82 per share. Amphastar Pharmaceuticals Inc shares are currently trading off about 14.9% on the day. The chart below