Vallourec ( VLOUF ) has signed a Memorandum of Understanding (MoU) with Ultra Corpotech Pvt Ltd, a supplier to major oilfield services companies based in India and the United States . The implementation of this MoU is planned for late 2026, with commissioning expected in early 2027, the company said on Tuesday. By establishing a "highly efficient and streamlined supply chain," this initiative will...
Vallourec ( VLOUF ) has signed a Memorandum of Understanding (MoU) with Ultra Corpotech Pvt Ltd, a supplier to major oilfield services companies based in India and the United States . The implementation of this MoU is planned for late 2026, with commissioning expected in early 2027, the company said on Tuesday. By establishing a "highly efficient and streamlined supply chain," this initiative will offer optimized access to VAM products through certified local production. The collaboration is intended to build a closer and sustainable cooperation to better serve oilfield services customers and partners in India . The agreement reflects a broader structural transformation of the oil & gas supply chain, as major oilfield services companies continue to rebalance their manufacturing footprint globally, the companies said. More on Vallourec S.A. Vallourec: I Moved To The Sidelines On Valuation (Rating Downgrade) Vallourec S.A. (VLOWY) Shareholder/Analyst Call Transcript Vallourec S.A. (VLOWY) Q1 2026 Earnings Call Transcript Seeking Alpha’s Quant Rating on Vallourec S.A. Historical earnings data for Vallourec S.A.
Israel’s latest strikes on Lebanon and Iran have made clear that US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu, who started the war in lockstep, want different things. Trump had publicly warned Israel not to strike Beirut in its war with Iran-backed Hezbollah militants. When it did, on Sunday, Iran responded by firing ballistic missiles at Israel for the first time since ...
Israel’s latest strikes on Lebanon and Iran have made clear that US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu, who started the war in lockstep, want different things. Trump had publicly warned Israel not to strike Beirut in its war with Iran-backed Hezbollah militants. When it did, on Sunday, Iran responded by firing ballistic missiles at Israel for the first time since the April ceasefire. Israel then struck Iran, with which Trump has been engaged in weeks of...
Ratana21/iStock via Getty Images Securities lending revenues surpassed $1.7 billion during the month of May, the highest monthly total of the year so far and a 43% increase when compared with May 2025. H1 revenues also surpassed those seen in 2025 by 6.5% with June still to account for. Average fees climbed 6% year-on-year to 49 bps as balances continued to grow, topping $4.1 trillion. Average bal...
Ratana21/iStock via Getty Images Securities lending revenues surpassed $1.7 billion during the month of May, the highest monthly total of the year so far and a 43% increase when compared with May 2025. H1 revenues also surpassed those seen in 2025 by 6.5% with June still to account for. Average fees climbed 6% year-on-year to 49 bps as balances continued to grow, topping $4.1 trillion. Average balances for May 2026 were approximately $1.1 billion higher than those seen in May 2025. Across the equity markets, Asian equity revenues surpassed those of the Americas for the second month in succession, growing by 113% year over year to $487 million. Americas equities suffered from a 25% year-on-year decline in average fees, which weighed upon revenues. EMEA equity revenues continued to improve, growing 55% year on year to $266 million. Average fees and balances both trended higher, which supported returns. The increase in balances was roughly double the size of the percentage increase in lendable supply year over year, which suggests stronger demand and more limited supply. ETFs continued to show strong demand throughout the month as geopolitical events and AI investment themes remained key drivers of financial news. Revenues increased 81% to $162 million during the month of May as average fees remained elevated. Across fixed income markets, inflationary pressures as a result of the ongoing disruption in energy markets and the subsequent uncertainty being seen in future interest rate decisions pushed government bond revenues to some of the highest levels seen for many months. The asset class generated $254.3 million throughout May as average monthly balances surpassed $1.7 trillion. utilisation rates shifted higher as a result, surpassing 23.9%. Corporate bonds benefited from similar tailwinds throughout the month as revenues increased month on month to $99 million. Average fees remained flat when compared with April, but balances continued to grow, lifting revenues highe...
syahrir maulana/iStock via Getty Images Overview The U.S. stock market experienced elevated volatility in the first quarter of 2026, as investors struggled to assess a broad range of news events. The year began on an upbeat note on anticipation of improving economic growth and falling interest rates, leading to positive performance and broadening market leadership. However, the emergence of worrie...
syahrir maulana/iStock via Getty Images Overview The U.S. stock market experienced elevated volatility in the first quarter of 2026, as investors struggled to assess a broad range of news events. The year began on an upbeat note on anticipation of improving economic growth and falling interest rates, leading to positive performance and broadening market leadership. However, the emergence of worries about the private-credit space, uncertainty about the impact of artificial intelligence (AI) on the economy, and, most notably, the outbreak of the U.S. and Israel's war with Iran depressed investor sentiment and fueled a market downturn in the second half of the quarter. Despite these headwinds, the broader small-cap value category finished in positive territory on the strength of its earlier rally. Although the Wasatch Small Cap Value Fund—Investor Class gained 0.67%, it didn't keep pace with the Russell 2000® Value Index, which added 4.96%. The Fund had outpaced the Index prior to the beginning of the Iran conflict, led by holdings in more economically sensitive areas of the market. We subsequently gave back our performance advantage following the start of the war, when market leadership shifted toward commodity-driven stocks in the energy and materials sectors. We typically hold underweight positions in these areas, since it's challenging to identify companies with the ability to control their own destinies. As is always the case, we maintained steady positioning based on the fundamental outlook for our portfolio holdings, rather than attempting to chase news-driven rallies in specific areas of the market. Portfolio Managers Austin Bone Lead Portfolio Manager Gene Robin, CFA Portfolio Manager The performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the data quoted. For the most recent month-end performance data, visit wasatchglobal.com . Investment returns and principal...
Iceye Oy quadrupled its valuation to more than €10 billion ($11.5 billion) in a General Atlantic-led funding round that will help the Finnish satellite-intelligence company expand to meet demand for sovereign technology systems. The company raised €450 million in new funding from investors including Finnish state-owned firms Solidium and Tesi, the startup said in a statement on Tuesday. Finnish ne...
Iceye Oy quadrupled its valuation to more than €10 billion ($11.5 billion) in a General Atlantic-led funding round that will help the Finnish satellite-intelligence company expand to meet demand for sovereign technology systems. The company raised €450 million in new funding from investors including Finnish state-owned firms Solidium and Tesi, the startup said in a statement on Tuesday. Finnish networking company Nokia Oyj and the Qatar Investment Authority also joined the round. Including a secondary placement for existing holders, the round came to €1 billion. Iceye, which provides all-weather, day-and-night Earth observation data to governments and businesses, last raised funds at a €2.4 billion valuation in December. This latest round was initially expected to give Iceye a valuation of about €5 billion, according to a Bloomberg News report in May. Iceye has a fleet of 70 satellites that can capture data through clouds, smoke and darkness, creating high-resolution images that have been critical in Ukraine, where the company has helped identify Russian military movements since 2022. It’s now monitoring the Persian Gulf following earlier cooperation with the United Arab Emirates, as demand in the region has surged. Seven European governments have bought sovereign satellite systems from Iceye, which says it has a €1.5 billion order backlog and expects to roughly double revenue this year to more than €500 million. Pension funds Varma and Ilmarinen also joined the round, along with Finnish VC fund Lifeline Ventures and TCV.
Pro-EU Ruling Party Wins Armenia Election In Landslide, Kremlin Blasts Western Interference Armenian Prime Minister Nikol Pashinyan's party has won parliamentary elections, according to Monday's result, after a vote which has signified the small Caucasus nation's major pro-Western shift . His Civil Contract party secured 49.81 percent of the vote, while the main opposition party Strong Armenia - s...
Pro-EU Ruling Party Wins Armenia Election In Landslide, Kremlin Blasts Western Interference Armenian Prime Minister Nikol Pashinyan's party has won parliamentary elections, according to Monday's result, after a vote which has signified the small Caucasus nation's major pro-Western shift . His Civil Contract party secured 49.81 percent of the vote, while the main opposition party Strong Armenia - seen as pro-Moscow, finished a distant second with 23.29 percent . National turnout in the country of three million people was close to 60%. Pashinyan claimed a "historic victory that will ensure Armenia’s eternity and development" while also vowing to "continue the course of rapprochement with the West" - but while balancing the pursuit of positive relations with Russia. Anadolu/Getty Images: Armenian Prime Minister Nikol Pashinyan declared victory in the parliamentary elections early Monday morning. Prime Minister Pashinyan has made known his intentions for his country to eventually join the EU. However, Strong Armenia party is claiming that the winning side in reality mounted a campaign of interference and intimidation : The second-placed Strong Armenia bloc is led by Samvel Karapetyan, a Russian-Armenian billionaire who made his fortune in Russia and is under house arrest for allegedly advocating for the government’s overthrow. He has rejected the charge as politically motivated. Karapetyan called the elections "shameful" and denounced alleged violations and repression, saying dozens of his campaign staff had been arrested . Armenia’s Investigative Committee said it had opened 59 criminal cases over alleged electoral violations and detained nine people. The Kremlin itself has also pounced on this theme, with Russian Foreign Ministry Spokeswoman Maria Zakharova alleging unfair and illegal tactics unleashed by local authorities on Russia-friendly interests inside Armenia. "On June 7, parliamentary elections were held in Armenia in an atmosphere of unprecedented pressure on...
AlexSecret/E+ via Getty Images Market Review The U.S. high yield market entered 2026 with constructive fundamentals and solid yields, but the first quarter was marked by a rapid reassessment of macro risk, sector durability, and technological disruption. While defaults remained low and issuer balance sheets were broadly sound, AI emerged as a critical driver of investor sentiment during 1Q26, espe...
AlexSecret/E+ via Getty Images Market Review The U.S. high yield market entered 2026 with constructive fundamentals and solid yields, but the first quarter was marked by a rapid reassessment of macro risk, sector durability, and technological disruption. While defaults remained low and issuer balance sheets were broadly sound, AI emerged as a critical driver of investor sentiment during 1Q26, especially at the sector and issuer level. Early enthusiasm for AI-enabled growth and the value of subscription-based business models gave way to concerns around disruption, pricing pressure, and the sustainability of competitive moats, particularly in software-heavy portions of the high yield market, and, more notably, in private credit. AI-related anxiety also spilled into select financials and insurance brokerage credits. The market gave way to more volatility in March as geopolitics—most notably the escalation of the Middle East conflicts and the closure of the Strait of Hormuz—drove moves in energy prices, inflation expectations, and interest rate markets. These developments sent Brent crude prices up more than 75% in the quarter, briefly exceeding $100 per barrel. The resulting oil shock rekindled inflation fears, tightened financial conditions, and introduced renewed concerns about second-order effects on demand. Against this backdrop, high yield spreads widened, yields increased, and performance turned slightly negative by quarter-end despite robust income. While these factors introduced volatility, the broader economic backdrop remains resilient, and high yield issuers are well-positioned to navigate near-term challenges, in our view. High yield spreads widened modestly over the course of the quarter, with most of the move concentrated in late February and March. The ICE BofA U.S. High Yield Index (H0A0) began the year at a spread of 281 basis points (bps), widened by 47 bps, and ended the quarter at 328 bps. As rates increased during the quarter, the yield-to-worst fo...