TebNad/iStock via Getty Images The three international owners of the proposed Argentina LNG project signed a joint development agreement Thursday, which aims to unlock Argentina's Vaca Muerta shale basin and help position the country as a long-term global liquefied natural gas supplier. Argentina's YPF ( YPF ), Italy's Eni ( E ), and Adnoc investment arm XRG said the agreement was a milestone for ...
TebNad/iStock via Getty Images The three international owners of the proposed Argentina LNG project signed a joint development agreement Thursday, which aims to unlock Argentina's Vaca Muerta shale basin and help position the country as a long-term global liquefied natural gas supplier. Argentina's YPF ( YPF ), Italy's Eni ( E ), and Adnoc investment arm XRG said the agreement was a milestone for the project, ahead of an expected final investment decision in this year's H2. Under the JDA, the partners will begin front-end engineering and design and perform other key technical, commercial and financing workstreams. Argentina LNG is expected to deliver 12M tons/year of LNG capacity via two floating LNG facilities with a capacity of 6M tons/year each. " This new step marks the formal inclusion of XRG into the project we have been developing together with Eni," YPF ( YPF ) President and CEO Horacio Marín said. "These two world-class players allow us to position Argentina LNG as one of the leading LNG projects globally." More on YPF YPF Sociedad Anonima: An Asymmetric Energy Play Tied To Argentina's Normalization YPF Sociedad: The Roadmap For The Argentine Energy Boom YPF: Argentina Finally Turns A Corner And So Does Its Flagship Company (Rating Upgrade)
NVIDIA's (NVDA.US) 16-year long-term lease agreement supports data center bond issuance, as the AI infrastructure borrowing trend shifts towards the 'high-yield bond' market. 富途牛牛
NVIDIA's (NVDA.US) 16-year long-term lease agreement supports data center bond issuance, as the AI infrastructure borrowing trend shifts towards the 'high-yield bond' market. 富途牛牛
Clear Street Group Inc. , a Wall Street broker built on cloud computing technology, has postponed its US initial public offering after cutting the target by nearly two thirds. The company made the decision based on market conditions, according to a spokesperson. Clear Street had already downsized its offering Thursday to 13 million shares offered between $26 and $28 apiece. It had previously been ...
Clear Street Group Inc. , a Wall Street broker built on cloud computing technology, has postponed its US initial public offering after cutting the target by nearly two thirds. The company made the decision based on market conditions, according to a spokesperson. Clear Street had already downsized its offering Thursday to 13 million shares offered between $26 and $28 apiece. It had previously been offering 23.8 million shares for $40 to $44 each. BlackRock Inc. had expressed interest in buying as much as $200 million of the IPO shares, according to the filings. The US IPO market has been jolted over the past week as fintech AGI Inc. also slashed its listing size before the pricing, while advertising tech firm Liftoff Mobile Inc. postponed its IPO just hours before the price would have been set. Read More: Slashed Valuations, Postponed Deal Puncture US IPO Optimism Clear Street provides clients access to securities and derivatives markets. The company’s pitch to investors was that because it doesn’t rely on legacy computer systems, it can provide clients more efficient access to clearing, settlement, custody and financing than incumbent banks and brokerages, according to its filings. For the latest news on equity capital markets activity in the US, Canada and Latin America, follow the channel or visit NI BFWECMUS . To subscribe to ECM Watch , Bloomberg’s daily roundup of news from around the region, click here . Goldman Sachs Group Inc. , Bank of America Corp. , Morgan Stanley , UBS Group AG were leading the offering, along with Clear Street themselves.
South_agency/E+ via Getty Images Suzano S.A. ( SUZ ) reported the other day, and markets liked it. There was sequential improvement in the markets in terms of pricing on top of considerably more volume thanks to Cerrado and also lower average pulp costs, also thanks to the lower-cost Cerrado footprint contributing to the mix. Improvements in the market, otherwise a little bit on the down, also see...
South_agency/E+ via Getty Images Suzano S.A. ( SUZ ) reported the other day, and markets liked it. There was sequential improvement in the markets in terms of pricing on top of considerably more volume thanks to Cerrado and also lower average pulp costs, also thanks to the lower-cost Cerrado footprint contributing to the mix. Improvements in the market, otherwise a little bit on the down, also seem to be materialising as we were picking up on in our last coverage . The next year we expect around 14% FCFY just based on FY 2025 figures, which we believe will be easily on higher volumes and the slight improvement in prices towards the end of the year. Prices have been improving since then as well, and there are a few additional tailwinds that support this price increase into 2026 for pulp. Results Some of the salient points in terms of the business' development are that there are revocations of licenses in Indonesia for plantations to produce timbre eventually usable as wood chips and fibre for pulp production. Annual production is around 50 million tonnes globally and the amount affected is already 150k based on curtailments by one producer and could amount to more. With a commodity like this, even a couple hundred bps in change of supply matters. Price increases in pulp are being pushed; the $538 per tonne in the slides is already a backward looking figure . Pulp demand was up in China. The Indonesian revocations are concentrating demand on Vietnamese wood chips, which are raising those prices and affecting costs for Chinese and Japanese manufacturers and others in Asia. Cerrado is one of the most cost effective assets in the world, so higher cash costs for competitors are a good thing and are allowing price increases to be pushed onto customers. The pulp demand recovery in China is also a decent economic indicator, and paper and board production was up 17% in China, meaning end markets aren't getting worse. Pulp segment (Q4 Pres) For paper and packaging, price incre...
Turiya Advisors Asia Ltd sold its entire position in CoreCivic (NYSE:CXW) during the fourth quarter, according to a February 11 SEC filing, with an estimated transaction value of $9.75 million. According to an SEC filing dated February 11, Turiya Advisors Asia Ltd reported selling all 479,000 shares of CoreCivic in the fourth quarter. The estimated transaction value was $9.75 million. Top holdings...
Turiya Advisors Asia Ltd sold its entire position in CoreCivic (NYSE:CXW) during the fourth quarter, according to a February 11 SEC filing, with an estimated transaction value of $9.75 million. According to an SEC filing dated February 11, Turiya Advisors Asia Ltd reported selling all 479,000 shares of CoreCivic in the fourth quarter. The estimated transaction value was $9.75 million. Top holdings after the filing: Continue reading
ablokhin/iStock Editorial via Getty Images Even with the market still sour from the Stop & Shop turnaround, I said back in July I wouldn’t be shocked to see Koninklijke Ahold Delhaize N.V. ( ADRNY ) (native ticker Euronext Amsterdam: AD) trading in the $50s. We’re not quite there yet, but after the Q4 FY 2025 results , we’re knocking on the door. Ahold Delhaize managed to maintain 3.2% growth in s...
ablokhin/iStock Editorial via Getty Images Even with the market still sour from the Stop & Shop turnaround, I said back in July I wouldn’t be shocked to see Koninklijke Ahold Delhaize N.V. ( ADRNY ) (native ticker Euronext Amsterdam: AD) trading in the $50s. We’re not quite there yet, but after the Q4 FY 2025 results , we’re knocking on the door. Ahold Delhaize managed to maintain 3.2% growth in same-store sales with market share gains in the United States, as well as topping estimates for FCF by €400 million to €2.6 billion (a surprise of at least 18%). But I think we should take a step back now. After all, it's been quite a while since I covered this stock, and you might be a little lost wondering why I considered Ahold Delhaize a Top Pick in the Grocery space last year. Well, I based my decision on four specific factors: At that point, the stock was offering a shareholder yield of ~6% annually (half coming from buybacks and the other half from the dividend yield) with coverage of almost 2x the FCF for the total distribution. As a good defensive stock, the balance sheet is strong (Long-Term Debt/EBITDA TTM less than 1x and sitting on €3.8 billion in cash). They were trading at a P/E of 16.5% below the Staples median and at least ~13% below Kroger ( KR ) at the time. So, it was also a cheap stock that gave you a good margin of safety. Macro winds were blowing (a larger gap between eating out and eating at home), as well as the scale + purchasing alliance would guarantee them a good assortment of private labels (essential for surviving in a value-oriented grocery consumption) and fresh products. Seeking Alpha To recap, since my first Buy call here, we’re up a little over 18%, while the S&P 500 ( SP500 ) has returned just above 7% over the same stretch. We also seem to have outperformed other stocks in the same niche, like Kroger or regional ones like Weis Markets ( WMK ) and Village ( VLGEA ), that felt more of the pinch from hard-discounters like Aldi and Lidl. Abr...
Earnings Call Insights: Karyopharm Therapeutics Inc. (KPTI) Q4 2025 Management View Richard Paulson, President and CEO, highlighted Karyopharm entering a “defining phase, marked by important late-stage clinical milestones, continued disciplined execution and the opportunity to meaningfully expand the impact and scale of our oncology franchise.” He indicated selinexor’s “durable commercial foundati...
Earnings Call Insights: Karyopharm Therapeutics Inc. (KPTI) Q4 2025 Management View Richard Paulson, President and CEO, highlighted Karyopharm entering a “defining phase, marked by important late-stage clinical milestones, continued disciplined execution and the opportunity to meaningfully expand the impact and scale of our oncology franchise.” He indicated selinexor’s “durable commercial foundation in multiple myeloma” and identified myelofibrosis as the most significant near-term value driver, with endometrial cancer as a subsequent expansion opportunity. Paulson stated, “We remain on track to share top line data from our Phase III SENTRY trial in March,” positioning this as a key milestone. He added, “We continue to manage the business with discipline. As previously disclosed, our cash runway extends into the second quarter, which aligns with key near-term clinical milestones.” Reshma Rangwala, Executive VP, Chief Medical Officer & Head of Research, emphasized: “I’m incredibly excited by the near-term opportunity to read out two Phase III trials that could establish new standards of care in 2 areas of high unmet need.” She detailed selinexor’s mechanism and potential in myelofibrosis, referencing “a substantial body of preclinical, nonclinical translational and clinical efficacy as well as safety data sets.” Sohanya Cheng, Chief Commercial Officer, reported, “XPOVIO net product revenue grew to $32.1 million in the fourth quarter of 2025 and $114.9 million for full year 2025. We expect to continue to deliver revenue growth this year and are guiding towards $115 million to $130 million of XPOVIO net product revenue in 2026.” Lori Macomber, CFO, stated, “Total revenue for the fourth quarter of 2025 was $34.1 million, an increase of 11.8% compared to the fourth quarter of 2024. For the year, total revenue was $146.1 million, a slight increase from 2024.” She also noted, “Our loss from operations improved by approximately 43% in the fourth quarter of 2025 compared to ...
Earnings Call Insights: Diebold Nixdorf (DBD) Q4 2025 Management View Octavio Marquez, President and CEO, highlighted 2025 as a defining year, stating Diebold Nixdorf “delivered on our commitments and most importantly, demonstrated that we are now operating a sustainable free cash flow generator with significantly more stable and predictable financial profile.” He pointed to a record $239 million ...
Earnings Call Insights: Diebold Nixdorf (DBD) Q4 2025 Management View Octavio Marquez, President and CEO, highlighted 2025 as a defining year, stating Diebold Nixdorf “delivered on our commitments and most importantly, demonstrated that we are now operating a sustainable free cash flow generator with significantly more stable and predictable financial profile.” He pointed to a record $239 million in free cash flow, a doubling from the prior year, and emphasized expanded adjusted EBITDA to $485 million. Marquez noted, “We are delivering on what we said we would do quarter after quarter. This consistency is increasing predictability in our model and strengthening confidence in our long-term outlook.” Marquez described growth in both banking and retail, with banking expanding into broader branch and transaction ecosystems and retail achieving three consecutive quarters of revenue growth, particularly in North America. He cited the successful pilot and transition to live store implementations of SmartVision AI solutions with a major U.S. retailer as a significant milestone. The CEO underscored a record fifth consecutive quarter of positive free cash flow and two credit rating upgrades during the year. He affirmed that returning capital to shareholders remains central, referencing net leverage around 1x and ongoing share repurchases. Thomas Timko, Executive VP & CFO, stated: “Q4 revenue was $1.1 billion, up 12% year-over-year and 17% sequentially, driven by growth in both product and service. In banking, high-capacity fit-for-purpose ATMs and strong performance in Europe drove results. In retail, strong point-of-sale and self-checkout performance globally drove revenue increases.” Timko explained, “Q4 adjusted EBITDA reached $164 million, up 46% year-over-year with 350 basis points of margin expansion. Sequentially, we delivered 35% growth and drove an additional 200 basis points of margin improvement, bringing EBITDA margins to 14.9%.” Outlook The company introduced 202...
Earnings Call Insights: Antero Resources Corporation (AR) Q4 2025 Management View CEO Michael Kennedy began by highlighting operational resilience during a severe winter storm, noting "we did not experience any shut-in volumes during the period. In fact, our team was able to turn in line a 7-well pad during that time, a truly remarkable achievement by our people in the field, enabling Antero to de...
Earnings Call Insights: Antero Resources Corporation (AR) Q4 2025 Management View CEO Michael Kennedy began by highlighting operational resilience during a severe winter storm, noting "we did not experience any shut-in volumes during the period. In fact, our team was able to turn in line a 7-well pad during that time, a truly remarkable achievement by our people in the field, enabling Antero to deliver critical natural gas to the various regions that desperately needed it." Kennedy announced the closing of the HG Energy acquisition ahead of schedule and the sale of the Ohio Utica asset, explaining this "solidifies Antero as the premier natural gas and NGL producer in West Virginia." He referenced the issuance of inaugural investment-grade bonds and higher-than-expected free cash flow. The HG acquisition added 385,000 net acres and over 400 drilling locations, extending core inventory life by 5 years and increasing dry gas exposure. Kennedy stated, "Our larger production and inventory base positions Antero to capture the significant demand opportunities from LNG exports in the Gulf Coast and data centers and natural gas-fired power plants regionally." The transaction is expected to lower cash costs by nearly 10%, expand margins, and reduce breakeven prices. David Cannelongo, Senior Vice President of Liquids Marketing & Transportation, discussed NGL market headwinds in 2025 but pointed to improving fundamentals, forecasting "propane storage levels returning to within the normal 5-year range by the end of 2026, which should result in improving prices throughout the year." Justin B. Fowler, Senior Vice President of Gas Marketing & Transportation, emphasized strong winter residential and commercial gas demand, with storage now "approximately 140 Bcf below the 5-year level." Brendan Krueger, CFO, stated, "During the year, we generated over $750 million in free cash flow. We used this free cash flow to reduce debt by over $300 million, repurchased $136 million of stock and...
Global tension and uncertainty make this a pivotal moment to affirm regional engagement. A gathering in Jakarta this week did just that. The South China Morning Post’s China Conference: Southeast Asia 2026 brought together leaders, policymakers and businesses. It was the first time this flagship conference was held in Indonesia. The mission was to connect the world’s second-largest economy, China,...
Global tension and uncertainty make this a pivotal moment to affirm regional engagement. A gathering in Jakarta this week did just that. The South China Morning Post’s China Conference: Southeast Asia 2026 brought together leaders, policymakers and businesses. It was the first time this flagship conference was held in Indonesia. The mission was to connect the world’s second-largest economy, China, with Southeast Asia’s biggest. Both nations are at critical junctures. China is embarking on its...