JHVEPhoto/iStock Editorial via Getty Images Introduction Concentrix ( CNXC ) is one of those stocks that looks almost too cheap to ignore. The company trades at roughly 2.4x forward non-GAAP earnings and offers a dividend yield above 5%. Management also expects between $630 million and $650 million of adjusted free cash flow in 2026, which is significant relative to the company 's current market c...
JHVEPhoto/iStock Editorial via Getty Images Introduction Concentrix ( CNXC ) is one of those stocks that looks almost too cheap to ignore. The company trades at roughly 2.4x forward non-GAAP earnings and offers a dividend yield above 5%. Management also expects between $630 million and $650 million of adjusted free cash flow in 2026, which is significant relative to the company 's current market capitalization. The problem is that nearly every attractive number comes with a qualification. The earnings multiple excludes large GAAP charges, and the free cash flow is still guidance rather than a recorded result. The dividend is being paid by a company carrying more than $4.5 billion of net debt, while revenue growth is weak, several verticals are declining, and the expected margin recovery is weighted toward the second half of the year. Concentrix may be too cheap for a Sell rating, but the operating results do not justify a Buy either. Growth Remains Weak and Uneven Concentrix reported approximately $2.5 billion of revenue in Q1 2026, increasing by more than 5%, but constant-currency growth was only 1.9%. This is fairly weak for a company that 's trying to convince investors it can offset structural pressure in traditional customer-experience outsourcing. The vertical performance was mixed. Banking and financial services revenue increased 13%, while retail, travel, and e-commerce grew 6%. Media and communications revenue increased 3%. These are respectable figures, particularly in banking, where management expects growth to remain in the high-single-digit to low-double-digit range during the year. The weaker parts of the portfolio are more concerning. Technology and consumer electronics revenue declined approximately 6%, while healthcare revenue also fell around 6%. Healthcare weakness was tied to lower volumes related to Medicare membership and participation in Affordable Care Act programs. Management does not expect that vertical to return to growth for another coup...
Apple Inc. is expanding tools for parents to protect children online, a move that comes as governments around the world increasingly ban social media for young people. The iPhone and iPad maker at its Worldwide Developers Conference Monday previewed new features that will let parents better control on devices when kids can use apps, what content they can access and with whom they can communicate. ...
Apple Inc. is expanding tools for parents to protect children online, a move that comes as governments around the world increasingly ban social media for young people. The iPhone and iPad maker at its Worldwide Developers Conference Monday previewed new features that will let parents better control on devices when kids can use apps, what content they can access and with whom they can communicate. Tech companies are under growing pressure to limit children’s exposure to social media, which some psychologists have linked to mental health risks including cyberbullying, eating disorders and suicide. Apple already lets parents create special accounts for children, required for those under 13 years old and available for those up to 18. The updates are designed to help families “thoughtfully establish age-based protections and develop healthy digital habits,” Sumbul Desai , Apple’s vice president of health and fitness, said on the Cupertino, California-based company’s website. Beginning with software updates this fall, parents will be able to use children’s account features to pick which apps they can use and control which websites they can view, for example. Australia in December became the world’s first democracy to force the likes of Meta Platforms Inc. , TikTok, and Snap Inc. to kick under-16s off their platforms. The movement has since spread globally , with Indonesia, parts of India, the UK and several European countries implementing or discussing similar restrictions. Jury verdicts in the US in recent months against some of the services have increased public discussion of social media’s harms. Australian Prime Minister Anthony Albanese said Tuesday Apple Chief Executive Officer Tim Cook called him to discuss the new safety controls. “Mr. Cook told me these changes are in part inspired by Australia’s world leading social media age ban, as well as the continued research Apple is undertaking into the impact of social media on kids,” Albanese said in a statement. Apple ...
Anna Edwards, Tom Mackenzie and Adam Linton break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Anna Edwards, Tom Mackenzie and Adam Linton break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
After a first international hat-trick against Northern Ireland, former France striker Louis Saha believes Michael Olise can move into Ballon d'Or contention.
After a first international hat-trick against Northern Ireland, former France striker Louis Saha believes Michael Olise can move into Ballon d'Or contention.
The Basque government is raising €500 million ($577 million) from bonds to support the Spanish region’s industrial investment strategy. The notes, due in October 2035, are being marketed at a spread of about 9 basis points over Spanish government bonds, according to a person familiar with the matter who asked not to be identified discussing private information. The deal is expected to price later ...
The Basque government is raising €500 million ($577 million) from bonds to support the Spanish region’s industrial investment strategy. The notes, due in October 2035, are being marketed at a spread of about 9 basis points over Spanish government bonds, according to a person familiar with the matter who asked not to be identified discussing private information. The deal is expected to price later on Tuesday. The bond issue is part of the region’s Industrial Strategy 2030 and Financial Alliance’s plan to borrow €1 billion from bonds and bilateral loans, alongside a goal of attracting €3 billion of private investment, officials from the Basque finance department said at a briefing. The regional government operates differently to other parts of Spain as per an agreement to collect tax revenue and manage its own funds, known as the Concierto Económico. It pays an agreed amount to the national government in Madrid, the Cupo. Thanks to its ring-fenced finances, the region has credit ratings of A2, AA- and A+, at Moody’s, S&P and Fitch, a level higher than those of Spain. The Basque government typically raises a sustainable bond about once a year. Tuesday’s deal is additional to its regular funding, the finance team said. The region’s most recent issue, of April 2036 notes, priced in January at a yield of 4 basis points more than Spanish government bonds. Banco Bilbao Vizcaya Argentaria SA and Kutxabank SA will act as global coordinators, along with Banco de Sabadell SA, CaixaBank SA, Deutsche Bank AG, ING Groep NV and Banco Santander SA as bookrunners.
James Bidgood’s experimental DIY movie, first released in 1971, starred Bobby Kendall and was shot mostly in Bidgood’s own apartment James Bidgood’s experimental homoerotic reverie is now reissued in restored form. The film was shot mostly in Bidgood’s own New York apartment throughout the 1960s; it was finally released in 1971 with Bidgood’s name removed from the credits after an opaque dispute w...
James Bidgood’s experimental DIY movie, first released in 1971, starred Bobby Kendall and was shot mostly in Bidgood’s own apartment James Bidgood’s experimental homoerotic reverie is now reissued in restored form. The film was shot mostly in Bidgood’s own New York apartment throughout the 1960s; it was finally released in 1971 with Bidgood’s name removed from the credits after an opaque dispute with his backers and his authorship only revealed 20 years later. Pink Narcissus is a movie of garish colour, mute melodrama and dreamlike imagery which mimics early cinema, perhaps simply because the resources for recording lip-sync dialogue were not available. (The director says that Powell and Pressburger’s Red Shoes was an inspiration although the title alludes more to their nun melodrama Black Narcissus.) It interestingly merges its rather pastoral fantasies with the urban circumstances where these would be consumed – the city’s movie theatres, outside which poverty and alienation were commonplace. Some of the most interesting and successful parts of the piece are the radio soundscapes and the modelled neon skylines. Continue reading...