ZS' Z-Flex gains traction with $290M in bookings and rising multi-module deals. Can this flexible model sustain its strong revenue growth?

由于中东局势有望缓和，西德克萨斯中质原油价格跌至每桶80多美元，标普500指数和 纳斯达克 100指数期货上涨约0.8%至1.0%。 责任编辑：张俊 SF065

Exchange-traded fund investors have been pulling money out of commodities products at the fastest clip on record as the conflict in the Middle East continues to rattle markets. Roughly $11 billion has been yanked from roughly 100 ETFs spanning precious metals and broad commodity funds. While March is not over yet, the amount marks the largest monthly withdrawal, according to Bloomberg Intelligence data going back to at least 2005. The biggest outflows concentrated in gold-focused funds like the SPDR Gold Shares ( GLD ), which has seen more than $7 billion withdrawn, as well as other metals. Silver ETFs also saw redemptions of about $1.4 billion in outflows. Given gold’s strong run before the war, “people were jittery to get out and lock in those gains,” said Bloomberg Intelligence analyst Athanasios Psarofagis . “Most investors are probably up on it, and that’s who sold hardest.” Gold’s weak performance during the Iran conflict can partly be explained by a dash for cash, as the war sees investors ditch their relatively liquid and profitable positions. Expectations of higher interest rates and a stronger dollar have also added to headwinds for non-yielding bullion. Commodities markets have been upended since the US and Israel started attacking Iran on Feb. 28, with the Strait of Hormuz effectively closed off. Oil and gas markets have contributed to heightened volatility across broader financial markets. Brent oil topped $104 on Tuesday. Energy-linked products have this month experienced inflow and outflow rates not seen in years. For some market watchers, the historic outflows from the commodities cohort come as a surprise given that many of these funds are typically viewed as safe havens during periods of economic uncertainty. “Commodity ETFs are seeing record outflows during this market selloff — an unusual twist given their typical role as inflation and risk hedges,” Psarofagis added. “What’s striking is that the move is being driven largely by gold and silver, no...

有报道称美国通过巴基斯坦向伊朗提交了一份15点提案以结束敌对行动，缓解了能源价格担忧，原油价格下跌超过5%，而美国股指期货上涨。 责任编辑：张俊 SF065

Photonics companies could make the next stage of AI infrastructure development possible, and firms like Coherent and Nova could stand to benefit most.

Getty Images Since I last reported on Clear Secure ( YOU ), rating it a Buy on February 26, 2025, the stock is up 115.69% . Back then, I pushed against the prevailing narrative on Wall Street that the identity verification firm (perhaps best known for speeding up the security screening process at airports via biometrics) was seeing a broken membership model, one that would further bleed the stock in the post-"Revenge Travel" era following Covid. My own perspective was that the firm would see new traction in its "Verified Enterprise" business due to our new era of "AI and deepfakes" and that, in addition, no one was factoring in its (admittedly very) new ENVE pods as a real technological upgrade-and perhaps the new standard for "qualifying access" at public entities. Priced at $25.06 at the time, the stock was unloved and well down from its highs. It was worth the flyer. My optimism was further validated in December when it was reported that YOU had entered a contract with the Centers for Medicare and Medicaid Services to modernize its identity verification for beneficiaries and providers on Medicare. That website will integrate Clear1, YOU's secure identity platform, for all account creation, account recovery, and access to information. This was a very big deal, as CMS is the single largest payer of healthcare services in the US. Whereas airport travel might capture the business class, this verification contract touches tens of millions of Americans from every walk of life. It also puts the company in the catbird seat in terms of being the eventual arbiter of a certain type of access identity in America. This could be important because, unlike countries like Estonia or India, where identity and digital governance were brought inside state function, the US prefers a less proactive approach, letting things sort of bubble up through the private sector. Clear's biometric, customer-facing brand might help it as it moves deeper into the far more contested B2B markets of v...

Source: Bloomberg, 0:00

财联社3月25日讯（记者 刘梦然） 弘元绿能 （603185.SH）参与无锡尚德重整方案初步浮出水面。今日晚间，弘元绿能宣布，控股子公司弘元光能与无锡尚德将共同设立新尚德，新尚德注册资本为10亿元。其中，弘元光能将出资6.3亿元持有新尚德约63%的股权，并作为牵头投资人组建投资联合体，引进其他投资人。 这意味着，无锡尚德这家前代光伏龙头历经沉浮后，虽然还面临资不抵债困局，但也终于有望迎来“转生”机会。新尚德设立后，将在法院裁定批准重整计划后，向无锡尚德支付1.42亿元重整投资款，其中5000万元已作为投资保证金支付至管理人账户。 据公告披露，该笔款项主要用于收购无锡尚德运营所需核心资产，包括部分子公司股权、尚德品牌相关的商标权、专利权等各类知识产权，同时用于支付破产费用、共益债务、职工债权、相应税费及债权清偿款等相关支出。 无锡尚德成立于2001年，曾是全球知名光伏组件生产商，2005年登陆纽交所后一度风光无两，后因行业周期波动、经营决策等问题，于2013年经历首次破产重整，由顺风光电接盘。 据此前披露消息，2025年5月26日，无锡市新吴区人民法院裁定对无锡尚德进行预重整，后延长预重整期限。此次弘元绿能介入，成为其第二次破产重整的关键投资方。 作为光伏行业上下游协同布局的企业，弘元绿能主营光伏组件、光伏硅片等业务，此次参与无锡尚德重整，被业内视为其完善产业链布局、拓展品牌渠道的重要举措。无锡尚德在全球范围内仍拥有较高的品牌知名度，销售区域覆盖100多个国家和地区，尤其在欧洲市场具有较强的市场认可度。 尽管无锡尚德在品牌与渠道端价值犹存，但弘元绿能想要接住这部分资产，还面对较大的财务压力。据弘元绿能今日披露，截至2025年5月26日（法院裁定受理无锡尚德预重整之日），无锡尚德经审计的总资产为5.37亿元，总负债为45.78亿元，净资产为-40.41亿元。 对于此次参与无锡尚德重整，弘元绿能表示，是响应国家资源整合号召，结合自身经营改善态势及无锡尚德的品牌价值、技术积累、客户资源作出的综合决策，后续将通过整合双方优势，实现协同发展。 值得注意的是，弘元绿能自身近年来也面临行业低迷压力。据公司1月发布的业绩预告，预计2025年度实现归属于母公司所有者的净利润1.8亿元至2.5亿元，但扣非净利润仍为-2.5亿元至-3.1亿元。报告期内，公司转让了内蒙古鑫元硅材料科技有限公...

Tristan Roberts waited until he was 18 to buy knives, hammers and axes before murdering his mother.

Nvidia stock was rising early Wednesday as the chip maker’s shares looked past the entry of Arm Holdings into the artificial-intelligence processor market. Nvidia has been the dominant AI chipmaker for a while now, but new competitors keep arriving. Arm, which had previously licensed its designs for chips, announced a new data center central-processing unit (CPU) on Tuesday, its first foray into making its own semiconductors.

MDLZ's chocolate sales rise 11.4% in 2025 as pricing offsets cocoa cost pressure, but volume declines raise questions about how durable that growth is.

BlackRock CEO warns oil rise to $150 could trigger global recession, BBC reports Reuters

随着人口增长，以及人工智能、汽车等能源密集型产业的快速扩张，全球电力消耗迅速增加。2025年全球累计电力装机容量达到1.09万GW，其中 化石燃料发电占比约43%，太阳能、风力、水力发电占比分别约23%、12%、11% 。 在全球能源危机日益凸显及碳中和背景下，清洁能源转型已成为必然趋势。与风能、水电等相比，光伏发电具有地理限制小、分布广、成本低等优势，这也推动着光伏行业迅猛发展起来。 中国不仅是全球最大的光伏生产国，更在各个环节培育出了世界级的龙头企业，如今又有光伏产业链公司冲击IPO。 格隆汇获悉，在2025年8月递表港交所之后，近日，四川英发睿能科技股份有限公司（简称“英发睿能”）再次向港交所递交招股书，拟在香港主板上市，保荐人为中信建投国际、华泰国际。 英发睿能是专业 光伏电池片制造商 ，2025年收入超87亿，并实现扭亏。如今光伏电池片行业情况如何？不妨通过英发睿能来一探究竟。 超9成收入来自光伏电池片，深度绑定隆基绿能 光伏产业价值链的上游主要为硅料、硅片、辅材等原材料及设备，参与企业有通威股份、隆基绿能、大全能源、特变电工、协鑫科技、TCL中环等企业。 中游包含光伏电池生产及组件封装等环节， 参与者除了英发睿能之外，还有通威股份、钧达股份、爱旭股份、隆基绿能、晶科能源、晶澳科技、天合光能、阿特斯 等企业。 下游为系统集成与电站运营，包括逆变器、支架、电站开发与运营，应用场景包括集中式光伏电站、分布式光伏电站，参与者有阳光电源、锦浪科技、固德威、德业股份、国家电投、中国电建、正泰安能等。 光伏电池片可分为P型光伏电池片、N型光伏电池片。 在2024年之前，受益于技术成熟及生产成本较低，P型PERC电池片在光伏电池片市场中占据较大份额。但随着中国光伏企业不断推进N型电池片的量产，N型电池片出货量快速增长。 与P型电池片相比，N型电池片具有效率更高、温度系数更佳等多重优势，推动行业 从P型电池片向N型电池片（包括TOPCon、xBC和HJT电池片）的技术转型 。 预计未来几年，N型电池片的出货量仍将持续增长。其中，N型TOPCon电池片的全球出货量将在2031年达到961GW，2026至2031年的CAGR为8.1%。 资料来源：CPIA、EIA、弗若斯特沙利文；图片来源于招股书 2023年至2025年（简称“报告期”），英发睿能90%以上的收入来自光伏电池...

Monty Rakusen/DigitalVision via Getty Images Teck Resources ( TECK ) appears to be doing too many things at once. It is a legacy coal business with a history of large cash flow, but it is selling out of coal. It has a smallish zinc business that is still generating a bit of cash and considerable investor confusion at the same time. It has a “royalty” in Barrick’s Nevada gold mine project – the Fourmile – that is adding to the confusion because nobody is sure how to put a value on this opportunity. Most importantly, everybody agrees that copper is the next big growth story – there’s no doubt about it. It is also true that if the Anglo merger goes through, and Teck can execute, Teck will become one of the largest copper miners in the world, and its QB mine and now a number of Anglo mines will rake in billions. But there are two significant “ifs” here – the merger going through, which is the lesser “if,” and Teck executing it properly, which is the larger “if.” The market is taking a lazy view of this and discounting everything heavily. That is why the story of the merger is actually taking the stock downwards. This needs to be untangled, and TECK should be assessed as a company in transition but with a clear valuation gap moving forward. The Old Business Teck’s legacy business was steelmaking coal, and it was a massive cash generator. They are now exiting this business, so that cash flow is going away. Yet, Teck generated $4.3 billion in adjusted EBITDA in 2025. But that number now comes increasingly from copper – where Teck is still ramping up capacity – rather than from the steady, high-margin coal business that used to earlier generate revenues. Zinc still contributes its share, but not as a key driver. Teck says in its 2026 guidance that they may produce 410-460kt of zinc – along with 455-530kt of copper – which gives you enough signal on where the business is heading. This confuses investors because zinc still produces some revenue, and so does copper, but it is ...

IBM ( IBM ) and ElevenLabs on Wednesday said they are collaborating to integrate text-to-speech and speech-to-text capabilities into IBM’s watsonx Orchestrate platform, aiming to enhance voice interactions in enterprise AI systems. The integration allows businesses to deploy AI agents with multilingual voice capabilities across 70 languages, targeting use cases such as customer support, sales, and internal operations. The companies said the offering is designed to improve user experience by enabling more natural-sounding and responsive voice interactions. IBM said the addition expands watsonx Orchestrate from text-based automation to voice-enabled workflows while maintaining enterprise requirements such as security, compliance, and scalability. Features include access to a large library of synthetic voices and options aligned with standards such as PCI and HIPAA compliance. The companies said they plan to continue working together to advance voice-first AI applications for enterprise use, though no financial details of the partnership were disclosed. IBM +0.71% premarket to $242.3. Source: Press Release More on IBM International Business Machines Corporation (IBM) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript International Business Machines Corporation (IBM) Presents at Bank of America View from the Top CEO Series Transcript If IBM Can Drop 13% In A Day, What Does This Say About These Market Conditions? GTC effect: Nvidia's ecosystem partners edge higher following wave of collaborations IBM unveils blueprint to combine quantum, classical computing

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元 AASTOCKS.com

Oil pulls back on de-escalation hopes, but Hormuz, troop and Hezbollah risks keep XOM, CVX and E in focus as geopolitical volatility persists.

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元財經新聞Financial News AASTOCKS.com

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元 aastocks.com

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元財經新聞Financial News aastocks.com

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元 AASTOCKS.com

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元財經新聞Financial News AASTOCKS.com

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元財經新聞Financial News AASTOCKS.com

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元 aastocks.com

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元 AASTOCKS.com

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元財經新聞Financial News AASTOCKS.com

恆瑞醫藥：2025年淨利潤同比增長21.69% 擬10派2元 AASTOCKS.com

2026江苏省城市足球联赛（“苏超”）小微企业合作遴选25日在南京进行赞助落位抽签，32家小微企业通过公开抽签，确定各自赞助场次，来自南京和苏州的各一家小微企业喜提总决赛赞助席位。 为体现“大小品牌共赢”，进一步优化营商环境、激活市场主体活力与创造力，“苏超”组委会1月底发布小微企业商务遴选合作方案，省级层面共遴选32家，每家赞助金额5万元，享受官方赞助商同等权益。共有3582家符合条件的企业成功报名，2月底，32家小微企业通过公开摇号方式中签。 根据合作方案，32家中签企业将在常规赛每6场安排2家，共26家，2轮淘汰赛和决赛每轮安排2家，共6家。具体赞助场次同样通过公开抽签决定。25日，在南京市石城公证处监督下，32家企业代表先通过抽取序号球确定后续操作的先后顺序，随后再按照该顺序抽取比赛场序信封，确定相应的赞助场次。 最终，来自南京和苏州的各一家企业抽得总决赛赞助席位，而率先在前6场比赛亮相的将是两家苏州企业。 组委会方面表示，未来将继续秉持“资源共享、协同发展”的理念，与各方携手共进，吉祥物“苏嘟嘟”还将奔赴32家小微企业线下“探店”，通过线上线下的宣传持续为联赛小微企业发展助力。(新华社)

Just_Super/E+ via Getty Images Artificial intelligence has emerged as the dominant force shaping returns across global financial markets, according to Apollo Global Management’s chief economist, Torsten Slok. He notes that a single theme—AI—is increasingly influencing performance across equities, fixed income, and private capital, raising concerns about concentration risk for investors. In public markets, the outsized weight of large technology companies in the S&P 500 has amplified AI’s impact on equity returns. As these firms continue to lead innovation and earnings growth tied to AI, their influence on index performance has grown disproportionately. Meanwhile, in credit markets, major technology hyperscalers are issuing significant amounts of debt to fund AI-related infrastructure, further extending the theme’s reach into bond returns. The trend is even more pronounced in private markets, where AI-focused ventures now account for roughly 60% of venture capital investment. This level of concentration underscores how deeply embedded the technology has become across the investment landscape. “The bottom line is that there is one factor driving returns in portfolios, namely AI,” Slok said. Slok also cautions that such dependence on a single driver may leave portfolios vulnerable. He advises investors to diversify intentionally by allocating capital to sectors, regions, and strategies less directly tied to AI fundamentals. Market Tracking ETFs: ( DIA ), ( DDM ), ( DOG ), ( DXD ), ( SDOW ), ( SPY ), ( VOO ), ( IVV ), ( RSP ), ( SSO ), ( UPRO ), ( SH ), ( SDS ), ( SPXU ), ( QQQ ), ( QQQM ), ( TQQQ ), ( QID ), and ( SQQQ ). Artificial Intelligence ETFs: ( AIQ ), ( BOTZ ), ( DTEC ), ( WTAI ), ( XAIX ), ( WISE ), ( GINN ), ( ROBT ), ( TECB ), ( XT ), ( THNQ ), and ( CHAT ). More on markets Cantor Fitzgerald sees the current market pullback as a possible opportunity BNP Paribas raises 2026 inflation outlook as it signals a new 3% era Wells Fargo sees the U.S. economy weathe...

财联社3月25日讯（编辑 冯轶） 财联社为您带来今日港股重要公告 1）业绩速递 中国人寿(02628.HK)： 2025年收入合计6160.65亿元，同比增长16.5%；净利润1540.78亿元，同比增长44.1%。 快手-W(01024.HK)： 2025年收入1427.76亿元，同比增长12.5%；净利润186.17亿元，同比增长21.4%。主要由于线上营销服务、直播业务、电商业务及可灵AI业务的增长。 中广核电力(01816.HK)： 2025年收入约为756.966亿元，同比下降4.1%；净利润约为97.654亿元，同比下降 9.9%。 古茗(01364.HK)： 2025年收入129.14亿元，同比增长46.9%；利润31.09亿元，同比增长110.3%。 金山软件(03888.HK)： 2025年收入96.83亿元，同比减少6%；净利润20.04亿元，同比增加29%。 泉峰控股(02285.HK)： 2025年收入16.28亿美元，同比下降8.2%；净利润9760万美元，同比下降13.2%。主要由于客户采取更审慎的采购策略，收入阶段性下跌。 国泰君安国际(01788.HK)：2025年收入62.3亿港元，同比增加40.9%；净利润13.45亿港元，同比增加286.84%。 IGG(00799.HK)： 2025年收入54.97亿港元，同比减少4.19%；净利润5.8亿港元，同比持平。 英皇钟表珠宝(00887.HK)：2025年总收入为57.65亿港元，同比增长10.2%；净利润4.31亿港元，同比增长67.7%。 滨江服务(03316.HK)：2025年收入41.01亿元人民币，同比增加14.1%；净利润5.96亿元，同比增加9%。 稻香控股(00573.HK)：2025年收入23.19亿港元，同比减少4.4%；净亏损5993.2万港元，同比增加13.5%。 电视广播(00511.HK)：2025年收入31.92亿港元，同比减少2.02%；净利润5928.9万港元，去年同期亏损4.91亿元。 诺诚健华(09969.HK)： 2025年收入约23.75亿元，同比增长135.27%；净利润约6.44亿元，同比扭亏为盈。主要是由于药物销售的强劲增长，以及与Zenas Biopharma及Prolium合作所产生的许可收益。 知乎-W(02390.HK)：20...