A small number of Palestinians from Gaza have started crossing into Egypt for medical treatment after Israel allowed a limited reopening of the Rafah border crossing. It had been largely closed since Israeli troops seized it in May 2024, cutting off a critical lifeline for those in Gaza. About 20,000 Palestinians needing medical care hope to leave Gaza using the crossing, but only a handful have b...
A small number of Palestinians from Gaza have started crossing into Egypt for medical treatment after Israel allowed a limited reopening of the Rafah border crossing. It had been largely closed since Israeli troops seized it in May 2024, cutting off a critical lifeline for those in Gaza. About 20,000 Palestinians needing medical care hope to leave Gaza using the crossing, but only a handful have been allowed through so far. The reopening of Rafah is seen as a key step in the US-brokered ceasefire agreement as it moves into its second phase. Lucy Hough speaks to chief Middle East correspondent Emma Graham-Harrison – watch on YouTube Continue reading...
Bloom Energy stock is going gangbusters, but all the good news is already priced in. Bloom Energy (BE +6.72%) stock jumped 8% through 11:30 a.m. ET Tuesday. If you own Bloom Energy stock, you can thank Wall Street analyst Roth Capital for that. Roth Capital loves Bloom Energy stock This morning, Roth Capital publicly raised its price target on Bloom stock to $133 per share -- a 29% price target hi...
Bloom Energy stock is going gangbusters, but all the good news is already priced in. Bloom Energy (BE +6.72%) stock jumped 8% through 11:30 a.m. ET Tuesday. If you own Bloom Energy stock, you can thank Wall Street analyst Roth Capital for that. Roth Capital loves Bloom Energy stock This morning, Roth Capital publicly raised its price target on Bloom stock to $133 per share -- a 29% price target hike -- according to TheFly.com. Bloom Energy is expected to report its Q4 earnings after close of trading on Thursday, Feb. 5. The actual earnings news probably won't be great; analysts on average forecast $0.30 per share, down from $0.43 a year ago -- and these will probably be only "adjusted" earnings besides, not earnings as calculated according to generally accepted accounting principles (GAAP). According to Roth, though, that's beside the point, "given the likelihood of order announcements" and strong guidance from Bloom. We don't know precisely what Bloom will give for guidance, but Roth expects the news to be good. Expand NYSE : BE Bloom Energy Today's Change ( 6.72 %) $ 10.49 Current Price $ 166.62 Key Data Points Market Cap $37B Day's Range $ 163.59 - $ 176.44 52wk Range $ 15.15 - $ 176.44 Volume 326K Avg Vol 13M Gross Margin 33.24 % Is Bloom stock a buy? Now don't get too excited. Bloom stock is already up 575% over the past year, and even Roth has to admit that's a bit... optimistic. "Forward expectations are already factoring in very large order flow and incremental capacity growth in future years," warns the analyst, so Bloom probably won't get much of a bump after earnings. For this reason, Roth isn't recommending Bloom stock as a buy, and rates it only "neutral." That's still better than what I would recommend, however. With Bloom stock trading near 2,000 times trailing earnings, and more than 180 times next year's earnings even if it hits its targets, I still think Bloom stock is a sell.
An internal investigation into the ex-hedge fund tycoon Crispin Odey discovered at least 46 allegations of “inappropriate conduct” against female employees at his firm over a 17 year period, the UK’s financial watchdog said. The Financial Conduct Authority disclosed the findings of a investigation by Odey Asset Management as part of its legal showdown with Odey, who is currently challenging a life...
An internal investigation into the ex-hedge fund tycoon Crispin Odey discovered at least 46 allegations of “inappropriate conduct” against female employees at his firm over a 17 year period, the UK’s financial watchdog said. The Financial Conduct Authority disclosed the findings of a investigation by Odey Asset Management as part of its legal showdown with Odey, who is currently challenging a lifetime ban from financial services. The hedge fund boss argues that the FCA was pursuing an “agenda” to root out non-financial misconduct and sought a “totemic” case. A London trial is set to start in March. In a legal filing disclosed on Tuesday, the FCA said that the accusations against Odey ranged in seriousness from an allegation of sexual assault in 2005 to an incident when Odey required a receptionist to try on a recently purchased skirt and show it to him “ostensibly to see if it would fit his daughter.” Odey said at the time that he was embarrassed by the allegations and admitted that “there were certain things he had done wrong,” the FCA said. Odey’s lawyers said in a court filing Monday that the FCA took no further action into the misconduct allegations. A lawyer for Odey didn’t immediately respond to a further message seeking comment. In March last year, Odey was hit with a £1.8 million ($2.5 million) fine and ban for showing a “reckless disregard” for governance at his former investment fund. Odey’s conduct demonstrated that he was not a “ fit and proper person ” to work in the financial services industry after he moved to frustrate a disciplinary hearing into his own conduct, the FCA said. The trial next month is one of the most high-profile to go before the UK’s Upper Tribunal, and is set to shed new light on attempts by officials at OAM to deal with the allegations against the firm’s high-profile founder, once one of Britain’s most visible hedge fund managers and Brexit supporters. Odey’s lawyers said executives faced unfair pressure from the FCA to act against...
Kevin Dietsch Updates at 11:53 AM ET to confirm letter. Equifax ( EFX ) stock sank 12% in midday trading on Tuesday after a media report said Senators Elizabeth Warren (D-MA), Ron Wyden (D-OR), and Bernie Sanders (I-VT) warned the credit reporting firm against profiteering from new Medicaid work requirements. The One Big Beautiful Bill , signed by President Donald Trump in July, included new 2027 ...
Kevin Dietsch Updates at 11:53 AM ET to confirm letter. Equifax ( EFX ) stock sank 12% in midday trading on Tuesday after a media report said Senators Elizabeth Warren (D-MA), Ron Wyden (D-OR), and Bernie Sanders (I-VT) warned the credit reporting firm against profiteering from new Medicaid work requirements. The One Big Beautiful Bill , signed by President Donald Trump in July, included new 2027 work requirements for Medicaid recipients. That will result in more beneficiaries seeking employment to keep those benefits. Consequently, state governments will need to verify the work, volunteer, or school attendance of the recipients. The trio's letter to Equifax CEO Max Begor claims the company is poised to take advantage of its leading position in the market to boost prices even more. "Because Equifax is already dominant in this market, the law’s new red tape requirements allow the company to consolidate power even further, using extractive contracts to price-gouge states, squeeze competitors, and drive up profits," the letter said . "In fact, Equifax is laying the groundwork to cash in by proactively building out a platform called ‘TotalVerify,’ which is specifically marketed as a tool to help ‘Prepare Your Agency For H.R.1.' " Equifax ( EFX ) did not immediately respond to Seeking Alpha's request for comment. The Hill first reported that the senators sent the letter to the company. Despite the warning from the senators about the product's pricing, UBS analyst Kevin McVeigh sees the TotalVerify platform helping states to comply with the new 2027 work requirement and benefiting Equifax's ( EFX ) stock, he said in a note to clients. Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on Equifax Equifax Stock Faces Long-Term Headwinds Despite Positive Q4 Outlook Equifax Inc. (EFX) Presents at Goldman Sachs 2025 U.S. Financial Services Conference Transc...
Key differences in cost, sector mix, and dividend yield shape how VXUS and EEM fit into a globally diversified portfolio. The Vanguard Total International Stock ETF (VXUS +0.06%) and the iShares MSCI Emerging Markets ETF (EEM +0.54%) differ sharply on cost, market coverage, and risk: VXUS offers lower fees and broader international diversification, while EEM targets only emerging markets at a sign...
Key differences in cost, sector mix, and dividend yield shape how VXUS and EEM fit into a globally diversified portfolio. The Vanguard Total International Stock ETF (VXUS +0.06%) and the iShares MSCI Emerging Markets ETF (EEM +0.54%) differ sharply on cost, market coverage, and risk: VXUS offers lower fees and broader international diversification, while EEM targets only emerging markets at a significantly higher expense. VXUS aims to track the FTSE Global All Cap ex US Index, giving investors exposure to thousands of developed and emerging market stocks outside the United States. In contrast, EEM focuses specifically on large- and mid-cap companies from emerging economies. This comparison explores which approach may appeal depending on your goals for international equity exposure. Snapshot (cost & size) Metric VXUS EEM Issuer Vanguard IShares Expense ratio 0.05% 0.72% 1-yr return (as of 2026-01-30) 29.5% 36.8% Dividend yield 3.0% 2.0% AUM $573.7 billion $27.0 billion The 1-yr return represents total return over the trailing 12 months. EEM’s expense ratio is more than 14 times higher than VXUS, making VXUS considerably more affordable for long-term investors. VXUS also provides a higher dividend yield, which may appeal to those seeking more income from their international allocation. Performance & risk comparison Metric VXUS EEM Max drawdown (5 y) -29.43% -39.82% Growth of $1,000 over 5 years $1,297 $1,079 What's inside EEM holds around 1,200 stocks and has existed for nearly 23 years, providing targeted access to emerging market equities. Its sector mix leans heavily on technology (28%), financial services (22%), and consumer cyclicals (12%). Top positions include Taiwan Semiconductor Manufacturing (TSM 1.64%) at 12.39%, Samsung Electronics Ltd (SSNL.F +55.02%) at 4.71%, and Tencent Holdings Ltd (TCEHY 4.31%) at 4.43%, exposing investors to a concentrated group of Asian tech and internet giants. VXUS, by comparison, holds over 8,600 stocks across both developed and...
Disney announced Tuesday that Josh D'Amaro would be getting the keys to the castle. Wall Street is both pleased and unsurprised by the decision to pick the leader of its experiences business, which houses Disney's parks and cruises, to succeed Bob Iger as CEO beginning in mid-March. The 54-year-old has worked at Disney for nearly three decades. "We are positive on the potential for Mr. D'Amaro," G...
Disney announced Tuesday that Josh D'Amaro would be getting the keys to the castle. Wall Street is both pleased and unsurprised by the decision to pick the leader of its experiences business, which houses Disney's parks and cruises, to succeed Bob Iger as CEO beginning in mid-March. The 54-year-old has worked at Disney for nearly three decades. "We are positive on the potential for Mr. D'Amaro," Guggenheim Michael Morris wrote in a note to clients. Shares popped more than 1% in premarket trading on Tuesday immediately following Disney's morning announcement, but later fell 1.6% in the session. Disney's stock is coming off a drop of more than 7% in Monday's session on the back of earnings and amid some unease about what the transition would bring. DIS 1D mountain Disney, 1-day The question of who would replace Iger has been a closely followed succession story. The legendary executive came out of a short-lived retirement in November 2022 to replace his hand-picked successor, Bob Chapek. Media reports ahead of Tuesday's announcement asserted that D'Amaro would win the top job. He beat out Dana Walden, co-chairman of Disney Entertainment, after a strong showing leading the experiences unit. The division crossed the $10 billion quarterly revenue mark for the first time in the fiscal first quarter and helped the company outpace analyst estimates. What's weighing on the stock Keybanc analyst Brandon Nispel said the stock's slide is more about concerns over the company's near-term guidance rather than the D'Amaro announcement, which he described as widely expected. Disney warned that visits from international tourists to its domestic theme parks has been weak and could remain so. The experiences division is a key part of Disney's consolidated earnings, Bank of America analyst Jessica Reif Ehrlich said. For this reason, D'Amaro taking the job should go over well with stakeholders, she said. "We believe this announcement will be well received by the investment community," Ehr...
imaginima/iStock via Getty Images PJM Interconnection, the largest U.S. electric grid, forecast a nearly 30% surge in power plant outages Tuesday compared to the previous day, the result of the extended cold snap that has slowed fuel supplies for gas- and coal-fired generators. PJM, which manages electricity supply for 67M people in the Mid-Atlantic and Midwest, forecast 25.72 GW in generation out...
imaginima/iStock via Getty Images PJM Interconnection, the largest U.S. electric grid, forecast a nearly 30% surge in power plant outages Tuesday compared to the previous day, the result of the extended cold snap that has slowed fuel supplies for gas- and coal-fired generators. PJM, which manages electricity supply for 67M people in the Mid-Atlantic and Midwest, forecast 25.72 GW in generation outages, compared with Monday's level of 19.96 GW, Reuters reported, citing grid operator data. The forecast just missed the 26.1 GW of outages reached on January 22, the peak level since the start of nearly two weeks of frigid weather in the eastern half of the U.S. PJM expects generation outages to remain high throughout the week, according to its latest seven-day forecast. Gas prices, which affect the real-time cost of wholesale electricity, appeared to be easing Tuesday morning, Reuters reported; eastern gas prices in Pennsylvania fell to $3.79/MMBtu from $5.69 for Monday, and PJM West power prices in Pennsylvania and Maryland fell to $113/MWh from $196 for Monday. Major power companies and competitive generators operating within PJM Interconnection include American Electric Power ( AEP ), Dominion Energy ( D ), Exelon ( EXC ), First Energy ( FE ), PPL ( PPL ), Public Service Enterprise ( PEG ), and Vistra ( VST ). ETF: ( XLU ), ( IDU ), ( VPU ), ( FUTY ), ( FXU ) More on utilities XLU: Why Did It Top Last October? Where To Find Outperformance In 2026 The 2026 Market Derby Is Under Starter's Orders - Where To Put Your Money As The Market Rotates
Bakeoven Solar with Oregon’s Mt. Hood in the background Daybreak Solar and Bakeoven Solar, first commercial-scale solar projects in Wasco County, Oregon, deliver combined capacity of 269 MWdc (200 MWac) Projects deliver energy to Portland General Electric through Green Future Impact program, a voluntary program designed to support large industrial customers like Intel PORTLAND, Ore., February 03, ...
Bakeoven Solar with Oregon’s Mt. Hood in the background Daybreak Solar and Bakeoven Solar, first commercial-scale solar projects in Wasco County, Oregon, deliver combined capacity of 269 MWdc (200 MWac) Projects deliver energy to Portland General Electric through Green Future Impact program, a voluntary program designed to support large industrial customers like Intel PORTLAND, Ore., February 03, 2026--(BUSINESS WIRE)--Avangrid, Inc., a leading energy company and member of the Iberdrola Group, today announced it has achieved commercial operations at two new solar projects in Wasco County, Oregon – Daybreak Solar and Bakeoven Solar – both of which will deliver energy to the Portland General Electric (PGE) power grid. Daybreak Solar, with a capacity of 189 Megawatts DC (140 MWac), and Bakeoven Solar, with a capacity of 80 MWdc (60 MWac), represent new, domestic capacity that will support growing demand for electricity and bolster the region’s energy availability and reliability. "Completing these two projects marks the latest milestone in a pivotal investment in Wasco County, bringing new jobs, modern infrastructure, and a more resilient power grid for Oregon," said Avangrid CEO Jose Antonio Miranda. "Together with PGE and Intel, we’re delivering a new source of reliable power that will energize Oregon’s communities and industries for decades to come." Avangrid installed a combined 650,000 solar panels at Daybreak and Bakeoven, which are located adjacent to each other. Together, the projects are expected to produce hundreds of gigawatt-hours of electricity annually, strengthening grid reliability and supporting growing commercial and industrial demand. Construction supported over 300 construction jobs, filled mainly by local union labor. Avangrid estimates the two projects will generate approximately $40 million in tax revenue over their life span. The projects also support several permanent, full-time jobs for the ongoing operation and maintenance of the facilities, ...
Are we witnessing the birth of a biotech giant? Over the past five years, Axsome Therapeutics (AXSM +1.14%) has been on fire. The company has crushed the market in this period on the back of solid clinical and regulatory progress. At this point, it's fair to ask whether there is any upside left for the company, which is on the verge of reaching large-cap status. The good news is that there might j...
Are we witnessing the birth of a biotech giant? Over the past five years, Axsome Therapeutics (AXSM +1.14%) has been on fire. The company has crushed the market in this period on the back of solid clinical and regulatory progress. At this point, it's fair to ask whether there is any upside left for the company, which is on the verge of reaching large-cap status. The good news is that there might just be. Let's discuss why it's not too late to invest in Axsome Therapeutics. Strong sales growth Axsome's current lineup features Auvelity, a medicine approved for depression; Sunosi, which treats daytime sleepiness associated with narcolepsy; and Symbravo, a migraine medicine. The company's top line is growing at a good clip. In the third quarter, Axsome's revenue came in at $171 million, up 63% compared to the year-ago period. Symbravo was just approved in January 2025, while even Auvelity hasn't been on the market for that long -- it earned the green light in August 2022. So, these medicines should still drive top-line growth for a long time before running into patent cliffs. More approvals on the horizon Axsome Therapeutics can increase revenue by securing new approvals and label expansions. Let's first consider the latter. The company is seeking a new indication for Auvelity in Alzheimer's disease (AD) agitation. The medicine performed well in phase 3 studies and is currently being considered by the U.S. Food and Drug Administration (FDA) for this potential label expansion. Elsewhere, Sunosi completed a phase 3 study in adults with ADHD. Axsome Therapeutics plans to run several other late-stage clinical trials for this drug, including in depression with daytime sleepiness; it should eventually pursue these markets as well. Expand NASDAQ : AXSM Axsome Therapeutics Today's Change ( 1.14 %) $ 2.12 Current Price $ 188.00 Key Data Points Market Cap $9.4B Day's Range $ 188.00 - $ 190.52 52wk Range $ 86.99 - $ 191.50 Volume 6.7K Avg Vol 656K Gross Margin 90.31 % The company ...
US Speaker of the House Mike Johnson, Republican from Louisiana, speaks as he leads a news conference with House Republican leadership at the US Capitol in Washington, DC, on February 3, 2026. Roberto Schmidt | Afp | Getty Images House Speaker Mike Johnson said he's optimistic the three-day partial shutdown of much of the U.S. government is nearing an end. Johnson told reporters Tuesday morning he...
US Speaker of the House Mike Johnson, Republican from Louisiana, speaks as he leads a news conference with House Republican leadership at the US Capitol in Washington, DC, on February 3, 2026. Roberto Schmidt | Afp | Getty Images House Speaker Mike Johnson said he's optimistic the three-day partial shutdown of much of the U.S. government is nearing an end. Johnson told reporters Tuesday morning he has the votes for a key procedural vote to reopen the parts of the government, which has been shuttered since Saturday morning. Democratic Leader Hakeem Jeffries has told Johnson that Democrats will not help Republicans advance the procedure under which the government funding vote will happen, requiring Johnson to work within his own razor-thin majority to fund the government. After a new Democratic lawmaker was sworn in Monday , Johnson can only afford to lose one Republican vote on any party-line measure. "We're gonna pass the rule today, it was never in doubt to me," Johnson said in a press conference Tuesday morning. "We're governing responsibly and we're getting the job done." Read more CNBC politics coverage House hardliners complicate ending government shutdown as Speaker Johnson moves ahead Trump says U.S. and India reached trade deal, will lower tariffs immediately United Arab Emirates' 'Spy Sheikh' bought secret stake in Trump crypto company: WSJ Epstein files: Ro Khanna says DOJ's latest release is 'not good enough' Speaker Johnson: 'Confident' government shutdown will end by Tuesday Johnson spent most of Monday trying to work through rebellions in his party against ending the shutdown. Among them were conservative lawmakers demanding a vote on a controversial voter-ID bill known as the SAVE Act . The bill would fully fund the departments of Defense, Treasury, State, Health and Human Services, Labor, Housing and Urban Development, Transportation and Education through the remainder of the fiscal year on Sept. 30. Democrats in the Senate had the Department of Home...
Meryl Streep is to play Joni Mitchell in a forthcoming biopic of the singer-songwriter directed by Cameron Crowe, according to record executive Clive Davis. Davis confirmed the rumours surrounding the casting at his pre-Grammys party on Saturday, reports Rolling Stone. Last year, Anya Taylor-Joy was linked to the project in the role of the younger Mitchell, as was Streep’s Mamma Mia! co-star Amand...
Meryl Streep is to play Joni Mitchell in a forthcoming biopic of the singer-songwriter directed by Cameron Crowe, according to record executive Clive Davis. Davis confirmed the rumours surrounding the casting at his pre-Grammys party on Saturday, reports Rolling Stone. Last year, Anya Taylor-Joy was linked to the project in the role of the younger Mitchell, as was Streep’s Mamma Mia! co-star Amanda Seyfried. Crowe, whose best-known film is the music drama Almost Famous, has been attached to the project for some years, and in 2023 said that he hoped for a release date before 2026. Speaking three years ago, Crowe explained that – unlike recent films based on brief periods in the life of Bob Dylan and Bruce Springsteen – the film is not based on a biographical book about the star, but rather Mitchell’s own account of her life. “It’s Joni’s life, not [seen] through anybody else’s prism,” he said. “It’s through her prism. It’s the characters who impacted her life that you know and a lot that you don’t know. And the music is so cinematic.” Streep has previously received two Oscar nominations for playing real-life musicians: the violinist Roberta Guaspari in 1999’s Music of the Heart and the titular character in Florence Foster Jenkins, about the life of the amateur singer, in 2016.
JHVEPhoto/iStock Editorial via Getty Images Shares of Eaton Corporation ( ETN ) have been a solid performer over the past year, gaining about 14% as the electrical equipment giant has benefited from incremental data center demand. However, after a multiyear strong run, concerns have mounted that shares are priced for perfection. That concern has more credence Tuesday morning as a somewhat disappoi...
JHVEPhoto/iStock Editorial via Getty Images Shares of Eaton Corporation ( ETN ) have been a solid performer over the past year, gaining about 14% as the electrical equipment giant has benefited from incremental data center demand. However, after a multiyear strong run, concerns have mounted that shares are priced for perfection. That concern has more credence Tuesday morning as a somewhat disappointing outlook sent shares down 4% in early trading. I last covered shares in December , rating the stock a “ H old” given my view that fundamental strength was fully priced into valuation. After today’s drop, shares are up about 1%, consistent with my rating, and with updated financials, now is a good time to revisit ETN. Seeking Alpha In the company’s fourth quarter , Eaton earned $3.33 per share, which beat estimates by just a penny. Revenue was up 13%, but at $7.06 billion, it was still $30 million light. For a company with a trailing multiple approaching 30x, investors need to see clearer beats to continue buying shares. Eaton’s results were in no way poor; they simply failed to surpass sky-high expectations. EPS was still up 18% from last year, and margins of 24.9% were up 20 bps to a new record. Eaton continues to win orders more quickly than it can produce product, and with many of these data center construction projects multiple years in nature, the company is building out visible revenue for several years. Its backlog is now nearly $20 billion and continues to grow at a 20+% pace. Eaton is perfectly positioned to benefit from this multiyear cap-ex cycle that technology companies are undertaking. Eaton Corporation Data Centers and Aviation Are Driving Growth Looking first at its Electrical Americas segment, revenue surged 21% to $3.5 billion, led by 15% organic growth and a 5% contribution from M&A. Operating profit was up a more modest 14% to $1.05 billion as margins compressed 180 bps to 29.8%. Most of this margin compression is due to M&A, and as it scales up the...
Earnings Call Insights: RPC, Inc. (RES) Q4 2025 Management View Ben Palmer, CEO, reported a sequential revenue decline across most service lines in Q4, with service lines outside of pressure pumping making up 70% of total revenues and seeing a 4% sequential decrease. He highlighted "revenues increase at Spinnaker's cementing business, Patterson Tubular Services storage and inspection business and ...
Earnings Call Insights: RPC, Inc. (RES) Q4 2025 Management View Ben Palmer, CEO, reported a sequential revenue decline across most service lines in Q4, with service lines outside of pressure pumping making up 70% of total revenues and seeing a 4% sequential decrease. He highlighted "revenues increase at Spinnaker's cementing business, Patterson Tubular Services storage and inspection business and Cudd Pressure Control, snubbing and well control businesses." Palmer pointed to continued share gains for Thru Tubing Solutions with the A-10 downhole motor and expansion of the Metal Max product, allowing entry into new markets. He also mentioned ongoing marketing of the UnPlug technology, with growing adoption noted during the quarter. Cudd Pressure Controls revenues were up 1% sequentially, supported by a 13% increase in snubbing. The company expects delivery of a custom big bore snubbing unit in 2026, supporting a long-term customer in gas storage maintenance. Palmer noted that Pintail Completions, the largest wireline provider in the Permian Basin, saw a 3% revenue decline but expects 2026 to track large operator activity in the region. Pressure pumping revenues fell 6%, mainly due to holiday shutdowns and idled fleet, with no plans to reactivate until returns improve. Early Q1 has been affected by winter storms, with lost operating days impacting near-term profitability. Palmer stated, "RPC's focus remains on leveraging our strong balance sheet and maximizing long-term shareholder returns," emphasizing growth in less capital-intensive service lines both organically and via acquisitions. Michael Schmit, CFO, stated, "revenues decreased 5% to $426 million compared to Q3." Technical Services made up 95% of total Q4 revenues, down 4%, while Support Services comprised 5%, down 18%. He gave a detailed revenue mix: pressure pumping (27.6%), wireline (24.1%), downhole tools (22.4%), coiled tubing (9.7%), cementing (5.9%), and rental tools (3.4%). Schmit disclosed a change in ...
Earnings Call Insights: J&J Snack Foods Corp. (JJSF) Q1 2026 Management View Daniel Fachner, President, CEO & Chairman, stated that "our earnings recovery is underway and gaining momentum," highlighting adjusted EBITDA of $27 million on sales of $343.8 million for the quarter and a 7% increase in adjusted EBITDA compared to the prior year. He emphasized the impact of Project Apollo, noting "the ea...
Earnings Call Insights: J&J Snack Foods Corp. (JJSF) Q1 2026 Management View Daniel Fachner, President, CEO & Chairman, stated that "our earnings recovery is underway and gaining momentum," highlighting adjusted EBITDA of $27 million on sales of $343.8 million for the quarter and a 7% increase in adjusted EBITDA compared to the prior year. He emphasized the impact of Project Apollo, noting "the early benefits of Project Apollo transformation initiatives and our continued focus on operational excellence." Fachner explained that gross margin improved by 200 basis points to 27.9%, primarily driven by plant consolidation and improved product mix, while net sales declined 5.2% to $343.8 million, mainly due to focused SKU optimization and portfolio management. Fachner reported that Project Apollo delivered "over $3 million of net savings in Q1" and reaffirmed, "We remain confident in achieving $20 million of run rate operating income once all initiatives are activated." The CEO highlighted a completed $42 million share repurchase and the authorization of another $50 million repurchase program. Fachner described strong pretzel sales in Food Service, up 6.9%, and noted that "pretzel sales were up about 4%" in retail for the 13 weeks ending December, attributing the trends to new formulations and packaging. Innovation in frozen novelties was led by Dogsters, with "volume growing over 20% in the quarter," and Dippin' Dots sales up approximately 4%. The CEO noted progress in expanding ICEE at convenience and QSR, and previewed upcoming product launches including protein and whole-grain pretzels, Luigi mini pops with functional benefits, and the introduction of traditional Dippin' Dots for retail. Shawn Munsell, Senior VP & CFO, stated, "We’re pleased with our Q1 performance, which demonstrates early progress on our transformation initiatives," and detailed segment performance, cost controls, and the completion of the share repurchase authorization. Outlook Fachner indicated th...
Earnings Call Insights: Two Harbors Investment Corp. (TWO) Q4 2025 Management View William Greenberg, President & CEO, introduced the recently announced merger with United Wholesale Mortgage, stating, "This merger brings us together with the #1 mortgage originator in the country in UWM and doubles the size of the MSR portfolio to a pro forma $400 billion." Greenberg emphasized that this partnershi...
Earnings Call Insights: Two Harbors Investment Corp. (TWO) Q4 2025 Management View William Greenberg, President & CEO, introduced the recently announced merger with United Wholesale Mortgage, stating, "This merger brings us together with the #1 mortgage originator in the country in UWM and doubles the size of the MSR portfolio to a pro forma $400 billion." Greenberg emphasized that this partnership marks the culmination of the company’s business plan, offering "very powerful strategic alignment and positions the combined company for accelerated growth and enhanced outcomes, which should deliver meaningful upside to shareholders." Greenberg highlighted the company’s investment portfolio performance, reporting a total economic return of 3.9% for the fourth quarter and noting that, excluding a previously recorded litigation settlement, the full-year economic return on book value would be 12.1%. Addressing investor questions on asset management post-merger, Greenberg said, "In the short term, the answer is that we intend to manage our business in the ordinary course... we will be thoughtful about how we proceed. There are some paths that lead to selling some or all of these assets over time, and there are other paths where the combined company will need many or even more than our existing TBA and specified pool positions." William Dellal, VP & Chief Financial Officer, reported, "Our book value increased to $11.13 per share at December 31 compared to $11.04 per share at September 30. Including the $0.34 common stock dividend, this resulted in a positive 3.9% quarterly economic return." Nicholas Letica, VP & Chief Investment Officer, added, "At December 31, the portfolio was $13.2 billion, including $9 billion in settled positions and $4.2 billion in TBAs. Our primary risk metrics quarter-over-quarter were not materially different. Our economic debt-to-equity was slightly lower at 7x." Outlook Management projected that about 65% of capital is allocated to servicing with a...