Sun Pharmaceutical Industries Ltd. and Germany’s Grünenthal are among firms vying for New York-listed women’s health-care company Organon & Co. , according to people familiar with the matter. India’s biggest pharmaceutical firm and closely held Grünenthal are working with advisers on potential binding bids for Organon that they may submit in the coming weeks, the people said, asking not to be iden...
Sun Pharmaceutical Industries Ltd. and Germany’s Grünenthal are among firms vying for New York-listed women’s health-care company Organon & Co. , according to people familiar with the matter. India’s biggest pharmaceutical firm and closely held Grünenthal are working with advisers on potential binding bids for Organon that they may submit in the coming weeks, the people said, asking not to be identified discussing private information. Organon, which has a market capitalization of $2.4 billion, has also drawn interest from other bidders including private equity firms, the people said. The New Jersey-based company was spun off from Merck & Co. in 2021 and had total debt of about $8.8 billion as of the end of last year. Considerations are ongoing and no final decisions have been made, the people said. Sun Pharma has secured commitments from a group of overseas banks, the people said. Representatives for Sun Pharma and Organon didn’t respond to requests seeking comment. Grünenthal declined to comment. Organon focuses on women’s health in areas such as breast cancer, contraception, osteoporosis and menopause, according to its website . The Economic Times first reported Sun Pharma’s interest in the company in January .
jetcityimage/iStock Editorial via Getty Images Executive Summary & Investment Thesis Northrop Grumman ( NOC ) has one differentiation from other defense companies. It doesn't just build tactical products for the United States but also produces highly strategic products. As we are newly beginning another cold war between the United States and China, Northrop is the primary company to carry the nucl...
jetcityimage/iStock Editorial via Getty Images Executive Summary & Investment Thesis Northrop Grumman ( NOC ) has one differentiation from other defense companies. It doesn't just build tactical products for the United States but also produces highly strategic products. As we are newly beginning another cold war between the United States and China, Northrop is the primary company to carry the nuclear program and space defense systems for the United States. It produces new products for the steps of the nuclear triad . Currently, many investors miss a point. The B-21 Raider is currently causing problems and a deficit for Northrop's financials. This is because the B-21 is currently in the LRIP stage, and Northrop can't get a profit from this project currently. Therefore, when we look at the financials, the valuation of Northrop is lower than what it actually should be. The essential point to make Northrop one of the most important defense companies is its space defense system projects and the Sentinel ICBM project. Sentinel is not just a simple project, but it guarantees the future cash flow for Northrop for a long time. This is because it is the essential nuclear program for the United States. When we consider all these monopolistic points for Northrop, the base DCF value gives us $728.57, and peer valuations give us an $800+ value. So, in my model, I found that Northrop should be more valuable than the current situation. The New Nuclear Triad: Sentinel and B-21 Raider The market mostly values defense companies according to how many tactical platforms they provide to the army. However, Northrop is not just a defense company that produces tactical platforms but is also the main contractor of the new nuclear triad. Northrop has monopolistic power in this strategic project, not only for air platforms but also for ground-based platforms. Therefore, it has stable revenue for the future. The B-21 Raider: Data Cloud in The Sky Because of this, investors think that the B-21 i...
Tomohiro Ohsumi/Getty Images News I've stayed bullish on Nissan Motor Co., Ltd. ( NSANY ) ( NSANF ) (7201.T). It is expected to record a revenue decline and net losses for FY2025 (YE Mar 2026). But I'm optimistic about its future. NSANY organized a presentation outlining its "long-term vision" on April 14. These disclosures have left me with a positive impression of its financial improvement poten...
Tomohiro Ohsumi/Getty Images News I've stayed bullish on Nissan Motor Co., Ltd. ( NSANY ) ( NSANF ) (7201.T). It is expected to record a revenue decline and net losses for FY2025 (YE Mar 2026). But I'm optimistic about its future. NSANY organized a presentation outlining its "long-term vision" on April 14. These disclosures have left me with a positive impression of its financial improvement potential. My prior March 21, 2024, article touched on the firm's inorganic expansion and China prospects. Anticipating A Growth Turnaround NSANY aims to register combined unit sales of 2.55 million for the U.S./China/Japan regions in FY30. This figure was taken from the S&P Capital IQ transcript for Tuesday's event. The new volume target's implied forward five-year CAGR is +4%. That represents a reversal from the group's FY25 guided -2% volume decline in the same markets. I have confidence in NSANY's ability to perform better for a number of reasons. The company indicated at the April 14 webcast that it "will increase (future) volume per model by more than 30%." I think this is achievable, considering its proposal to pivot towards a more focused portfolio. Going forward, NSANY intends to have just a few core categories accounting for about four-fifths of total volumes. One of them is the "Compact Family" catering to demand for smaller-sized vehicles in Japan. Also, the total nameplate count is planned to be decreased by 19% to 45. I believe that the enterprise's top line can be enhanced as top executives spend less time managing an excessive number of product lines. Separately, NSANY's Tuesday briefing comments suggest that it "will equip the vast majority (90%) of its lineup with AI-driven technologies" over time. In my opinion, it is the right decision to place a greater emphasis on AI-related features. Deloitte's " 2026 Global Automotive Study " highlighted that "consumers in most markets view software-defined vehicles (SDVs) as valuable." The proportion is among the highest...
Taiwan Semiconductor Manufacturing Company press release ( TSM ): Q1 GAAP EPADR of $3.49 beats by $0.11 . Revenue of $35.9B (+40.6% Y/Y) beats by $410M . In the first quarter, shipments of 3-nanometer accounted for 25% of total wafer revenue; 5- nanometer accounted for 36%; 7-nanometer accounted for 13%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 74...
Taiwan Semiconductor Manufacturing Company press release ( TSM ): Q1 GAAP EPADR of $3.49 beats by $0.11 . Revenue of $35.9B (+40.6% Y/Y) beats by $410M . In the first quarter, shipments of 3-nanometer accounted for 25% of total wafer revenue; 5- nanometer accounted for 36%; 7-nanometer accounted for 13%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 74% of total wafer revenue More on Taiwan Semiconductor Manufacturing Company Taiwan Semiconductor Q1: Middle East War Consequences And The Zero-Availability Crisis TSMC: The AI Silicon Shortage Is About To Get Worse TSMC's AI Grip Tightens Further Taiwan Semiconductor likely to report 'strong' quarter, guidance, aided by AI: Wedbush Japan approves $4B subsidies for local chipmaker Rapidus: report
Oleksandr/iStock Editorial via Getty Images Introduction Alliance Resource Partners, L.P. ( ARLP ) is a major American thermal coal producer, with a solid portfolio of mineral interests and royalties that have been developed significantly in recent years, with investments in oil and gas but also future-facing commodities/companies and even cryptocurrency mining. ARLP is rated Buy, as even though t...
Oleksandr/iStock Editorial via Getty Images Introduction Alliance Resource Partners, L.P. ( ARLP ) is a major American thermal coal producer, with a solid portfolio of mineral interests and royalties that have been developed significantly in recent years, with investments in oil and gas but also future-facing commodities/companies and even cryptocurrency mining. ARLP is rated Buy, as even though the company depends on thermal coal, the management team has so far shown their ability to invest in higher-potential resources, while macro developments can offer a boost for thermal coal's future far beyond what the market believed some years ago. Reaping the Rewards Alliance Resource Partners, L.P. IR ARLP reported a strong Q4 and 2025 as a whole, beating the market's EPS expectations despite a slight miss on revenue, while the DCF reached $381.265 million in 2025, a small decline compared to $387.838 million in 2024 due to the macro pressure. The company also highlighted advancements in their mines (coal operations) following a renewed investing cycle thanks to the previous spike in coal prices that can significantly transform this industry despite near-term pressure. Alliance Resource Partners, L.P. IR For 2026, Alliance sees higher coal sales thanks to their robust contracting activity, citing over 93% of their projected 2026 sales tons already committed and priced at the beginning of February. Meanwhile, the CAPEX is expected to reach between $280 million and $300 million, with a slight increase compared to the $263.28 million seen in 2025 but still far below the $428.74 million spent in 2024 during the higher stage of their investing cycle. Alliance Resource Partners, L.P. IR Financially, based on ARLP's latest report , we see a strong position, with current assets covering their current liabilities more than twice, as well as most of their debt ($400 million) due in June 2029, with a net leverage ratio of only 0.56x, allowing significant flexibility and plenty of ti...
(RTTNews) - VAT Group AG (19V.F, VACN.SW) reported first quarter sales of 221 million Swiss francs, down 20% year on year, or down 9% on a constant currency basis. Order intake was 356 million francs, up 47% year on year, or was up 67% on a constant currency basis.
(RTTNews) - VAT Group AG (19V.F, VACN.SW) reported first quarter sales of 221 million Swiss francs, down 20% year on year, or down 9% on a constant currency basis. Order intake was 356 million francs, up 47% year on year, or was up 67% on a constant currency basis.
Worawith Ounpeng Arxis ( ARXS ), a portfolio company of Arcline Investment Management, priced its upsized initial public offering of 40.5M shares at $28.00 per share, raising $1.13B. Arxis ( ARXS ) designs and manufactures proprietary, mission-critical electronic and mechanical engineering components like s eals, gaskets, and metallized fabrics for aerospace and defense, medical technology, and sp...
Worawith Ounpeng Arxis ( ARXS ), a portfolio company of Arcline Investment Management, priced its upsized initial public offering of 40.5M shares at $28.00 per share, raising $1.13B. Arxis ( ARXS ) designs and manufactures proprietary, mission-critical electronic and mechanical engineering components like s eals, gaskets, and metallized fabrics for aerospace and defense, medical technology, and specialized industrial markets. Under buyout firm Arcline's ownership, Arxis ( ARXS ) has expanded through over 30 acquisitions since 2019, including the $1.8B purchase of rival Kaman in 2024. The underwriters have a 30-day option to purchase up to 6.075M shares. The IPO was upsized from an initial plan of ~37.74M shares priced between $25.00 and $28.00, announced earlier in April. The shares are expected to begin trading on the Nasdaq on April 16, 2026, under the symbol "ARXS." The closing of the offering is expected to occur on April 17. More on Arxis, Inc. Aerospace Components Supplier Arxis Files For IPO To Pay Down Debt Defense-tech IPO wave gains momentum as Arxis eyes $11B valuation Financial information for Arxis, Inc.
JHVEPhoto The U.S. government has granted a presidential permit to Enbridge Energy ( ENB ) to continue operating and maintaining three existing pipeline facilities at the U.S.-Canada border in Pembina County, North Dakota. Enbridge Energy also received U.S. presidential permits to operate and maintain pipeline facilities at the Canada border in North Dakota and Michigan . The administration issued...
JHVEPhoto The U.S. government has granted a presidential permit to Enbridge Energy ( ENB ) to continue operating and maintaining three existing pipeline facilities at the U.S.-Canada border in Pembina County, North Dakota. Enbridge Energy also received U.S. presidential permits to operate and maintain pipeline facilities at the Canada border in North Dakota and Michigan . The administration issued several pipeline permits on Wednesday, including one for the construction of a new pipeline, to facilitate the transportation of crude oil and petroleum products between the U.S. and Canada, according to documents released by the White House. The permit authorizing construction was issued to the Bakken Pipeline Company for pipeline facilities at Burke County, North Dakota. Other permits were issued for the maintenance and operation of existing pipelines at border locations in North Dakota and Michigan. More on Enbridge Inc. Enbridge: Boring Growth, Reliable Income And Why That Still Works Enbridge Could Be At Its Peak Price Enbridge: Let Your Profit Run As Dividend Growth Accelerates Enbridge targets $10B–$20B new project FIDs over 24 months as growth backlog reaches $39B Enbridge Q4 2025 earnings preview: Analyst sentiment mixed
Taiwan Semiconductor Manufacturing Co. booked a 58% surge in profit, a sign that the Middle East war in its first few weeks did not depress booming AI investment. The main chipmaker to Nvidia Corp. and Apple Inc. reported net income for the March quarter of NT$572.5 billion ($18 billion), versus the average analysts’ projection of NT$542.4 billion. TSMC this month posted a better-than-anticipated ...
Taiwan Semiconductor Manufacturing Co. booked a 58% surge in profit, a sign that the Middle East war in its first few weeks did not depress booming AI investment. The main chipmaker to Nvidia Corp. and Apple Inc. reported net income for the March quarter of NT$572.5 billion ($18 billion), versus the average analysts’ projection of NT$542.4 billion. TSMC this month posted a better-than-anticipated 35% jump in revenue. The results may help quell concerns that a prolonged crisis in the Middle East will dampen demand for power-hungry AI data centers and gadgets like the iPhone. The war has put pressure on global shipping routes and energy prices, and investors are looking for clues as to whether its impact will spread to tech giants’ spending plans. TSMC and its top customers such as Nvidia face increasing skepticism they can keep growing at current rates, despite pledges from Alphabet Inc. , Amazon.com Inc. , Meta Platforms Inc. and Microsoft Corp. to allocate $650 billion for AI expenditures this year. After explosive sales turned Nvidia into the world’s most valuable company and TSMC the biggest company in Asia, investors are seeking assurances that booming AI spending can be maintained. There is also speculation that a prolonged crisis in the Middle East could disrupt supplies of critical chipmaking components and gases such as helium. Equipment supply constraints may also cap growth for the $1 trillion chip industry, as the likes of ASML Holding NV cannot add capacity fast enough to satisfy demand for cutting-edge machines from customers including TSMC. What Bloomberg Intelligence Says Extrapolating TSMC’s March sales of NT$415.2 billion shows NT$1.13 trillion was achieved in 1Q (35% year-over-year growth), reinforcing our scenario analysis that AI-led demand for 3- and 5-nm chips is likely to keep 2Q sales growth in the high-single digits sequentially. Yet that strength may still not trigger an increase to the capital-spending budget target, as broad macroeconomic...
(RTTNews) - A jury in the U.S. District Court for the Southern District of New York found Live Nation/Ticketmaster liable for harming consumers and the live music industry through anticompetitive conduct. The jury determined that Live Nation overcharged tickets sold to consumers
(RTTNews) - A jury in the U.S. District Court for the Southern District of New York found Live Nation/Ticketmaster liable for harming consumers and the live music industry through anticompetitive conduct. The jury determined that Live Nation overcharged tickets sold to consumers